Crypto
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Dominica works with Huobi for digital identity program
Cryptocurrency exchange Huobi has partnered with the Commonwealth of Dominica to roll out a digital identity and national token service that promises digital citizenship of the West Indian island nation. Not to be confused with the nearby, larger Dominican Republic, Dominica is home to some 72,000 people and is situated in the middle of the Lesser Antilles archipelago. The government is looking to explore metaverse and Web3 technology to drive its development and attract talent from the cryptocurrency and blockchain ecosystem. The island nation is one of the first Caribbean countries to adopt a citizenship-by-investment program. Dominica passports allow access to over 130 countries around the world, including mainland China, Hong Kong, the European Union, Switzerland, the United Kingdom an...
Non-whale Bitcoin investors break new BTC accumulation record
Some non-whale Bitcoin (BTC) investors seem to have had zero issues with the cryptocurrency bear market as well as fear, uncertainty and doubt (FUD) around the fall of FTX, on-chain data suggests. Smaller retail investors have turned increasingly bullish on Bitcoin and started accumulating more BTC despite the ongoing market crisis, according to a report released by the blockchain intelligence platform Glassnode on Nov. 27. According to the data, there are at least two types of retail Bitcoin investors that have been accumulating the record amount of BTC following the collapse of FTX. The first type of investors — classified as shrimps — defines entities or investors that hold less than 1 Bitcoin, $16,500 at the time of writing, while the second type — crabs — are a category of addresses h...
PlayToEarn Blockchain Game Awards 2022 Announced With $10K in Prizes
Singapore, Singapore, 27th November, 2022, Chainwire PlayToEarn.net has announced the Blockchain Game Awards 2022 with $10,000 in prizes for content creators. The public is invited to vote for this year’s best blockchain games. The flagship industry awards recognize the best gaming companies and brands as well as acknowledging outstanding content creators. The winners are determined by the public who can vote on up to five of their favorite games or content creators. For each category voted for, members of the public will receive 20 P2E points. These can be redeemed for various prizes in the P2E shop which is scheduled to launch in January 2023. The voting period starts on December 1 and ends on December 29, with the results being announced two weeks later. Primary categories and prizes in...
Decentraland vs Metacade: How Different Are They Really?
Decentraland (MANA) was an early entrant to the Web3.0 virtual universe on the blockchain. The project was gaining traction in 2020 and when the market for NFTs and digital assets soared in 2021, Decentraland saw its value rocket higher. As the market goes through a recent bear market, investors are now looking for other projects that can be metaverse leaders. Metacade has jumped onto that list and the project has just launched a presale of its MCADE utility token. What is Metacade? Metacade is creating a Web3.0 hub for developers and gamers to meet and collaborate. The project is setting out to build the world’s first community-led play-to-earn arcade on the path to being a leading Game-Fi destination. Metacade’s aim is to attract a thriving community of casual and serious gamers to ...
Metacade (MCADE) has Everything to be One of the Best Metaverse Tokens in 2023; Token Presale is Driving Significant Interest from Investors
With the metaverse tipped to be one of the biggest technological revolutions the world has ever seen, getting in early could generate life-changing gains over the coming decades. But with many new entrants to the market, it can be tricky to find the best metaverse tokens. A new token, Metacade, is currently in presale and has been attracting plenty of attention from metaverse crypto investors. In this article, we’re going to introduce you to Metacade and why it could be one of the best metaverse tokens to invest in for 2023. Why Invest in Metaverse Tokens? Before we cover why Metacade could be one of the best metaverse tokens of 2023, we first need to explain why you should consider investing in the metaverse. According to Grand View Research, the metaverse is one of the fastest-growing in...
How blockchain technology is used in supply chain management?
To trace the activities along the supply chain more efficiently, concerned parties can access price, date, origin, quality, certification, destination and other pertinent information using blockchain. Traceability, as used in the supply chain sector, is the capacity to pinpoint the previous and current locations of inventory and a record of product custody. It involves tracking products as they move through a convoluted process, from raw materials to merchants and customers, after passing through many geographic zones. Traceability is one of the significant benefits of blockchain-driven supply chain innovations. As blockchain consists of decentralized open-source ledgers recording data, which is replicable among users, transactions happen in real-time. As a result, the blockchain can build...
Canada crypto regulation: Bitcoin ETFs, strict licensing and a digital dollar
In October, Toronto-based Coinsquare became the first crypto trading business to get dealer registration from the Investment Industry Regulatory Organization of Canada (IIROC). That means a lot as now Coinsquare investors’ funds enjoy the security of the Canadian Investment Protection Fund in the event of insolvency, while the exchange is required to report its financial standing regularly. This news reminds us about the peculiarities of Canadian regulation of crypto. While the country still holds a rather tight process of licensing the virtual asset providers, it outpaces the neighboring United States in its experiments with crypto exchange-traded funds (ETFs), pension funds’ investments and central bank digital currency (CBDC) efforts. An era of restricted dealers Coinsquare, which...
How low can the Bitcoin price go?
Bitcoin is a “buy the dip” opportunity with the BTC price at $16,000 or a bear market capitulation waiting to happen, depending on who you ask. Bitcoin (BTC) has spent over a year in a downtrend since its $69,000 all-time highs in November 2021. BTC price performance has given investors up to 77% losses, but how much lower can BTC/USD really go? Bitcoin traders and analysts have long agreed that 2022 is the year of the largest cryptocurrency’s newest bear market. After coming off all-time highs to start the year at around $46,000, BTC/USD has offered little relief and has since returned to levels not seen since November 2020, data from Cointelegraph Markets Pro and TradingView confirms. That has placed the pair in historical bear market bottom territory — having lost a maximum ...
Alameda Research withdrew $204M ahead of bankruptcy filing – Arkham Intelligence
According to analysis from blockchain firm Arkham Intelligence, over 50% of the funds transferred after Nov. 6 were in US pegged stablecoins. Alameda Research withdrew over $200 million from FTX.US before it filed for bankruptcy, according to analysis from blockchain firm Arkham Intelligence disclosed on Nov. 25. In a Twitter thread, Arkham revealed that Alameda Research, FTX’s sister company, pulled $204 million from eight different addresses of FTX US in a variety of crypto assets, the majority of them stablecoins, in the final days before the collapse. Arkham analysed flows from FTX US in the final few days before the collapse, finding that Alameda withdrew the most funds, at $204M. Below is a diagram of withdrawals to Arkham-identified entities from FTX US. n.b. this thread rega...
$15.5K retest is more likely, according to Bitcoin futures and options
Bitcoin (BTC) has been trading near $16,500 since Nov. 23, recovering from a dip to $15,500 as investors feared the imminent insolvency of Genesis Global, a cryptocurrency lending and trending company. Genesis stated on Nov. 16 that it would “temporarily suspend redemptions and new loan originations in the lending business.” After causing initial mayhem in the markets, the firm refuted speculation of “imminent” bankruptcy on Nov. 22, although it confirmed difficulties in raising money. More importantly, Genesis’ parent company Digital Currency Group (DCG) owns Grayscale — the asset manager behind Grayscale Bitcoin Trust, which holds some 633,360 BTC. Contagion risks from the FTX-Alameda Research implosion continue to exert negative pressure on the markets, but the industry is w...
DeFi sparks new investments despite turbulent market: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The prolonged crypto winter aided by the collapse of FTX has kept investors from backing a new protocol that merges DeFi and the foreign exchange market. A new Cosmos blockchain-based DeFi protocol has caught the eyes of investors who have put $10 million behind the project. Cardano-based leading stablecoin ecosystem Ardana abruptly stopped its development after several launch delays. However, the project remains open-source for others to add to it until they restart the development process. Aave community has now proposed a governance change after a failed $60 million short attack. The short attack was later trac...
Binance proof-of-reserves is ‘pointless without liabilities’: Kraken CEO
Disclaimer: The article has been updated to reflect Binance CEO CZ’s response to the concerns raised by Kraken CEO Jesse Powell. The collapse of the crypto exchange FTX revealed the importance of proof-of-reserves in avoiding situations involving the misappropriation of users’ funds. While exchanges have proactively started sharing wallet addresses to prove the existence of users’ funds, several entrepreneurs, including Kraken CEO and co-founder Jesse Powell, called the practice “pointless” as exchanges fail to include liabilities. According to Powell, a complete proof-of-reserve audit must include the sum of client liabilities, user-verifiable cryptographic proof that each account was included in the sum and signatures proving the custodian’s control over the wallets. Whil...
