Business
Wazupnaija – Naija Entertainment blogs & Forums – Business
Is $70k the next target for Bitcoin after setting a new high at $68k?
Bitcoin has reached a new all-time high above $68k and could rally higher over the coming hours if the market maintains the current momentum. The cryptocurrency market has been performing excellently over the past few hours, with Bitcoin and Ether all reaching new all-time highs. Bitcoin reached a new all-time high of $68,641 per coin, according to the data obtained from Coingecko. The leading cryptocurrency surpassed the previous all-time high of $67,257 after rising by more than 3% over the past 24 hours. At the time of writing, BTC is trading at $68,150, down by 0.7% from the all-time high price it attained a few hours ago. Key levels to watch The BTC/USD 4-hour chart is very bullish at the moment, thanks to the cryptocurrency’s performance over the past few hours. Bitcoin’s MACD line i...
Will Litecoin hit $250 after rallying by more than 16% today?
Litecoin has been struggling to hit the $250 mark in recent weeks but could reach the level after rallying by more than 16% today. The cryptocurrency market cap has hit the $3 trillion mark after numerous coins rallied over the past few days. Litecoin is one of the best-performing cryptocurrencies at the moment, rising by more than 16% over the past 24 hours. Despite its recent rally, Litecoin has struggled to break past the $250 resistance level. At the time of writing, LTC is up by 16.3% and is trading at $244.10 per coin. However, if it maintains the current momentum, then it could rally past the $250 resistance level over the next few hours. Key levels to watch The LTC/USD 4-hour chart is currently bullish, despite being 40% down from its current all-time high price. The technical indi...
Carbon neutral crypto spot ETFs to launch in Canada
Two carbon neutral cryptocurrency-backed exchange-traded funds are poised to launch in Canada offering a greener alternative for institutional investors. Canada-based asset manager Purpose Investments is readying to launch two new crypto-based ETFs on the Toronto Stock Exchange on Nov. 9, both of which offer investors a carbon offset. Purpose will launch their Bitcoin and Ethereum ETFs under the BTCC.J and ETHH.J tickers. Unlike the funds recently launched in the U.S. which are futures contract backed, these funds will be backed and settled using BTC as the underlying asset. Tomorrow @PurposeInvest is launching new share classes for their #Bitcoin and #Ethereum ETFs — $BTCC and $ETHH. They will be “Carbon Offset” share classes and will be denoted “/J”. Pages b...
Matter Labs raises $50M to build EVM-compatible zk-rollups
Matter Labs has announced a major new funding round to further develop the second version of its Ethereum-based rollups, zkSync. On Nov. 9, Matter Labs announced it had secured $50 million in a Series B round led by Andreessen Horowitz and included participation from existing investors Placeholder and Dragonfly Capital. The new round follows Matter Labs’ $6 million Series A in February, and saw participation from many new investors including Crypto.com, ConsenSys, and OKEx. The new cash injection will be channeled into further developing zkSync v2, the firm’s second-layer rollups solution for Ethereum that is currently focussed on facilitating low-cost payments. Rollups are a second-layer scaling solution that “rolls up” transactions data in batches for more efficient processing on Et...
Synapse Bridge prevents $8M USD hack
Cross-chain protocols are continuing to face challenges, with Synapse Bridge narrowly averting a multi-million exploit. On Nov. 7, Synapse Bridge announced on Discord they had prevented a hacker from draining approximately $8 million USD from the Avalanche Neutral Dollar (nUSD) Metapool. The hacker attempted to exploit a vulnerability using the bridge to transfer assets from Polygon (MATIC) to Avalanche (AVAX). Synapse is a cross-chain bridge designed to facilitate swaps and transfers between a range of layer-one and layer-two protocols using an automated market maker (AMM). Synapse Bridge stated: “Over the past 16 hours, we encountered and discovered a contract bug in the way that the AMM Metapool contracts handle virtual price calculations against the base pool’s virtual price.” As...
Ethereum Name Service’s new token already has a fully-diluted cap of $3.1T
The official announcement on Mirror from ENS states that $ENS will be used to vote on a proposed constitution and govern protocol parameters. The first issues holders can vote on in the new ENS DAO are the price oracle, and how to allocate existing and future community treasury funds. Ethereum wallet users who have created an ENS domain in the past are eligible to claim $ENS from the claims site by May 4, 2022. Unclaimed tokens will be sent to the DAO treasury. An ENS domain maps easy-to-read names that end in .eth (like “alice.eth”) onto Ethereum addresses. One-quarter of the entire $ENS supply was made available to .eth domain holders to claim in total. Each wallet received a varying quantity of $ENS based on how long they’ve held their domain, their expiry date, and whether they have se...
We seek to invest in platforms that can distribute ownership among users: Variant co-founder
Crypto uniquely allows ownership to be distributed widely on emerging platforms In a conversation with Bloomberg’s Emily Chang, Variant Fund co-founder Li Jin stated that the venture investment firm will back projects that are looking to capitalise on the ownership economy. The remarks come weeks after Variant announced the creation of a $110 million fund for cryptocurrency and blockchain-based start-ups. Describing the relevance of the ownership economy, Jin stated that all next-generation internet platforms are going to be built, operated and developed by their users. She believes that projects which are equipped to offer distributed ownership are likely to experience faster and larger growth than those with centralised models. Cryptocurrency uniquely enables such decentralisation by all...
Analysts expect parabolic Bitcoin price move after the ‘last’ resistance at $67K falls
The bulls are on the march again and this time they’ve set their sights on a new all-time high for Bitcoin (BTC) price which is within striking distance of the $67,000 level. Data from Cointelegraph Markets Pro and TradingView shows that a late-night surge on Nov. 7 catapulted the price to an intraday high at $66,557 and at the time of writing trading volume continues to increase as bulls attempt to secure a daily close above $66,000. BTC/USDT 4-hour chart. Source: TradingView Here’s a look at what analysts are saying about today’s rally and where BTC price might head in the short-term. There’s just one final resistance level Independent market analyst Rekt Capital posted the following chart highlighting his point-of-view that there is “one final resistance left before BT...
OTOY’s Render Network plans to render the metaverse on Solana
Jules Urbach, the CEO and founder of OTOY, wants to democratize content creation, specifically as it pertains to virtual assets. OTOY’s technology intends to fulfill the promise of an open cloud-based metaverse via the Render Network — the first decentralized GPU rendering network & 3D marketplace built on OTOY’s OctaneRender NFT ecosystem. While at the inaugural Solana Breakpoint conference in Lisbon, Portugal, Urbach announced Render Network’s integration with the Solana blockchain, as well as a partnership with NFT minting platform Metaplex. Urbach noted that the project’s recent move to Solana happened for a variety of reasons. He mentioned that Solana runs on high-performance code at a fast enough speed to handle scene graph changes on chain without sacrificing securit...
ESG oriented blockchain wants on-chain ‘nutrition labels’ for every commodity exchanged
The Watr Foundation, in partnership with blockchain platform Algorand, recently launched a project to provide ESG scoring for different commodities with a special focus on climate change. While the project has a clear environmental focus, the platform will also include labeling for everything from how a company treats its workers to the number of people participating in an asset’s ecosystem by gender. Watr Foundation council president Maryam Ayati said in a statement: “We believe this next iteration on resource models should be co-created in mutually-owned profit models. It is a privilege and comfort to be collaborating with the pioneers of decentralized technology, blockchain, industry, and environmental products in bringing this blockchain ecosystem to life.” Algorand CO...
3 reasons why Kadena (KDA) price went on a 500% parabolic frenzy
Proof-of-work (POW) blockchain networks were all the rage in the early days of cryptocurrency when Bitcoin (BTC) set the standard for security and other projects followed suit in various attempts to offer a robust, scalable network that would either support payments of efficiently transmit data. Most protocols have now shifted to proof-of-stake but Kadena (KDA), a scalable layer-one blockchain protocol is still operating on the old proof-of-work model. According to the project, the network is capable of processing up to 480,000 transactions per second thanks to the use of “braided chains”. Data from Cointelegraph Markets Pro and TradingView shows that in the last two weeks, KDA price has rallied 1,124% to a new record high at $25.94 on Nov. 7 as its 24-hour trading volume spiked...
Gabby Barrett, Blanco Brown & More Among 2022 CRS New Faces of Country Music Finalists
This year, Barrett earned her second No. 1 hit with a three-week run at the pinnacle of Billboard‘s Country Airplay chart with “The Good Ones.” Also among those earning No. 1 hits on Billboard‘s Country Airplay over the past year were Brown (“Just The Way,” with Parmalee), Moon (“Good Time“), Shane (“My Boy“), Wilson (“Things a Man Oughta Know“), McCollum (“Pretty Heart”), and Rodgers (who earned his second No. 1 hit with “Cold Beer Calling My Name” featuring Luke Combs). Hayes, who released his debut single in 2010, has earned one of the biggest all-genre hits of the year with “Fancy Like,” which has reached No. 1 on several Billboard charts, including Hot Country Songs and Cou...
