Business
Wazupnaija – Naija Entertainment blogs & Forums – Business
WorldCoin Wants To Give Everyone Free Crypto if They Scan Their Irises
WorldCoin, a new cryptocurrency launched by tech millionaire Sam Altman, wants to give everyone in the world free coin — in exchange for a scan of your iris. Altman, who runs the AI research company OpenAI and who has been a familiar name in Silicon Valley tech for years, told Wired that no one has fully developed “serious plans” to distribute free money to the world’s population. The project has so far raised $25 million USD from major investors like Andreessen Horowitz and Coinbase Ventures. On its website, the company calls itself a “new, collectively owned global currency that will be distributed fairly to as many people as possible.” The company explains that less than 3% of the world’s population uses cryptocurrency, hampering efforts to digitize the global economy. “If a crypto...
Price analysis 10/22: BTC, ETH, BNB, ADA, XRP, SOL, DOT, DOGE, LUNA, UNI
Bitcoin (BTC) and Ether (ETH) have both witnessed aggressive profit-booking after hitting their respective new all-time high. This suggests that traders who had bought on rumors of a Bitcoin exchange-traded fund booked profits following the successful launch of the ProShares’ Bitcoin Strategy exchange-traded fund (ETF) (BITO). The bulls tried to stage a recovery in Bitcoin after the launch of the second BTC futures-linked ETF by digital asset manager Valkyrie on Oct. 22 but met with strong selling pressure at higher levels. The selling has pulled the greed level on the Crypto Fear and Greed Index from 84 on Oct. 21 to 75 on Oct. 22. Daily cryptocurrency market performance. Source: Coin360 JPMorgan Chase strategists said in a note that BITO was “unlikely to trigger a new phase of significan...
Altcoin Roundup: Holding Bitcoin? Here’s how to put it to work in DeFi
The long-awaited day finally came on Oct. 19 as the first Bitcoin (BTC) exchange-traded fund (ETF) went live on the New York Stock Exchange, thrusting the crypto asset into the limelight across mainstream news outlets and alternative media alike. Despite the fact that the ETF in question will hold no actual Bitcoin and is instead a futures-based instrument, investors and pundits across the ecosystem have largely hailed its launch as proof that Bitcoin has hit the big leagues and will soon surpass the coveted $100,000 price target. Many investors either don’t have access or will choose not to interact with the newly launched EFT, but holders can still use a variety of strategies to earn a yield on their BTC holdings. Here’s a look at some strategies BTC holders can use to earn a yield...
NFT studio Mojito completes $20M seed round with help from Sotheby’s
NFT development studio Mojito announced Friday that they have raised $20M in seed funding from a number of investors, including internationally known auction house Sotheby’s. According to an announcement published in Forbes, Sotheby’s auction house in partnership with Future Perfect Ventures, Creative Artists Agency and NEA’s Connect Ventures, contributed to the round at Mojito’s estimated value of $100 Million. The Delaware-based start-up indicated that it will use this new injection of capital to grow and develop its engineering teams, make a better version of its current NFT platform, and further develop its NFT trading and investment platforms. The NFT market has seen its total monthly sales drop from early September, though numbers have held at between $1.8 and $2.1 Billion for ...
Bitcoin price consolidation leans toward ‘another leg higher’
On Oct. 22 Bitcoin (BTC) price entered what some traders predict to be a “consolidation phase” as investors lock in profits following a non-stop run-up in price that began on Oct. 1 and saw BTC increase 55% in just three weeks. Data from Cointelegraph Markets Pro and TradingView shows that a wave of midday selling on Friday dropped the price of Bitcoin from support at $63,300 down to the $60,000 level. BTC/USDT 1-day chart. Source: TradingView Here’s what market analysts are saying about Bitcoin’s current price action for the short-term. “Bitcoin could be ready for another leg higher” The current price action is seen as a welcome development for crypto market intelligence firm Decentrader, which suggested that “Bitcoin is likely to progress higher through Q4 of 2021...
Crypto platform Rally commits $12M to third-party developers
Crypto-social platform Rally has earmarked $12 million for external developers to improve the functionality of the ecosystem, potentially setting the stage for new innovations that would benefit creators. The grants program will be distributed through RLY tokens, the native cryptocurrency of the Rally ecosystem, the company announced Friday. A community-elected developer council controls $5 million worth of RLY, giving it considerable sway over which types of bounties and rewards get distributed. Prior to establishing the new program, Rally awarded third-party developer grants to Bonfire, MintGate and David Young, the creator of the PLAY coin, which is built on Rally. Rally enables creators and artists to launch their own cryptocurrency and establish independent communities directly ...
Hilbert Group forms COIN360 JV with Cointelegraph and Chiron Partners
Sweden-based Hilbert Group AB, United States-based Cointelegraph and Asia-based investment group Chiron Partners will join forces to launch a new business of COIN360. Under this joint leadership, COIN360 will expand its product suite to become a full-service market data provider covering the full spectrum of digital assets — including decentralized finance (DeFi), nonfungible tokens (NFTs) and security token offerings — for both institutional and retail traders. Under the new arrangement, COIN360, the crypto market data provider with 4 million monthly visits known for its iconic heatmap, will become a joint venture of the three parties. Hilbert Group AB, which will list on Nasdaq First North on Oct. 27, is now the majority owner of COIN360, with 60% of the shares. “Given the large volume o...
Polygon pays $2M bounty on bug which could have compromised $850M in user funds
White hat hacker Gerhard Wagner has earned $2 million after reporting a solution to a potentially costly “double-spend” bug on the Polygon network. In an Oct. 21 blog post from Immunefi, a security service that helps facilitate bug reports in decentralized finance projects, Polygon network’s Plasma Bridge was at risk of having $850 million removed by a knowledgeable hacker. According to the project, the vulnerability would have allowed attackers to exit their burn transaction from the bridge up to 223 times, quickly turning an amount like $4,500 into $1 million profi. Immunefi reported the double-spend exploit worked by first depositing Ether (ETH) through the Plasma Bridge and starting the withdrawal process after the transaction was confirmed. A hacker could then wait a week and resubmit...
Analysts hold their $250K Bitcoin price target even as BTC falls below $60K
Bitcoin (BTC) briefly fell below $60,000 on Oct. 22 as a correction after all-time highs deepened concerns about the market’s strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader eyes $56,000 minimum BTC buy-in Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $59,930 on Bitstamp, down another 6% on the day. A rebound took the pair back above the $60,000 mark, but caution remained the name of the game as the week saw the price slide below $61,000. “Was watching that $64K zone as a crucial level to break and the market has failed, so a corrective move is taking place,” Cointelegraph contributor Michaël van de Poppe summarized about the situation. “Overall; looking at $56-59K as a good spot to buy Bitcoin.&...
Weekly report: Bitcoin’s price reaches a new all-time high
The cryptocurrency market cap touched the $2.7 trillion mark for the first time as Bitcoin and others rallied. Bitcoin touches a new all-time high The past few weeks have seen the leading cryptocurrency rally against the US Dollar. It was in a bearish trend in the second and third quarters of the year. However, BTC has turned things around since the start of the fourth quarter. Earlier this week, BTC reached a new all-time high above $67,200. This is the first time Bitcoin is setting a new all-time high since April 2021. The price dropped by nearly 50% at some points earlier this year. However, with the latest rally, many expect Bitcoin to attempt to reach the $100k level before the end of the year. The week of the Bitcoin futures ETFs Bitcoin reached a new all-time high this week, and som...
17% of addresses snapped up 80% of all Ethereum NFTs since April
Open source blockchain analytics firm Moonstream published a report which found that around 17% of addresses control more than 80% of all NFTs on Ethereum. The report was published on Oct. 21 and the analysis was conducted on more than 7 million NFT transactions on the Ethereum blockchain between April 1 and Sept. 25, 2021. The report found that whales, NFT platforms and exchanges which comprise the top 16.71% of all addresses, own 80.98% of NFTs on Ethereum. The remaining 83.29% of NFT owners were only able to snap up “a handful of tokens” during that time frame. “This latter statistic does require a little more nuance in its interpretation, however, as many of those owners are marketplaces and clearinghouses like OpenSea, Nifty Gateway, and other platforms of the same ilk,” Moonstr...
Every spectactor in a section of FTX Arena handed $500 in crypto at season opener
Major cryptocurrency exchange FTX has given $500 in crypto to every spectator sitting in one section of the FTX Arena at Thursday’s Miami Heat season opener game against the Milwaukee Bucks. As well as the crypto giveaway, every fan in the stadium received a T-shirt with a QR code giving access to an exclusive ‘Opening Night FTX Arena NFT’. Free NFT-shirt? Say no more! All @MiamiHEAT fans in attendance at tonight’s game will receive a free “You In, Miami?” t-shirt! By scanning the QR code on the back, they’ll unlock this free, limited edition FTX Arena NFT. The future is here. You in, Miami? #FTXMIA pic.twitter.com/0t3ruJbWN7 — FTX – Built By Traders, For Traders (@FTX_Official) October 21, 2021 Fans will no doubt be wondering if the free crypto giveaway will become a regular o...
