crypto blog
Safex market expands its lens: announces new vendor partnership with online retailer focus camera
Miami, Florida, 17th May, 2022, Chainwire Safex Market, the decentralized cryptocurrency e-commerce platform on the Safex Blockchain, has just announced a new vendor partnership with Focus Camera, an online retailer from Brooklyn, New York that has been in business of new and used camera gear since 1966. The Camera retailer joins the crypto marketplace with full use of their 30,000 SKUS in inventory. The Focus Camera onboarding comes swiftly behind several other major online retailers partnering with the decentralized marketplace. With its blockchain secured platform committed to maximizing benefits for both the buyer and the seller at every stage, Safex Market continues to attract online retail giants to the platform. Safex Market is disrupting the status quo for cryptocurrenc...
Smart Token Labs supports Carla Chan and La Prairie in First NFT Drop
Manly, Australia, 17th May, 2022, Chainwire Bringing Art and Beauty Lovers Into Web3 The first NFT art collection from the world’s leading luxury skincare brand La Prairie in collaboration with world renowned digital artist Carla Chan – is notable for more than the innovative and inspiring art that it represents. “Space Beyond” by Carla Chan involves 365 + 1 editions of unique, forever-changing artworks generated in real-time with weather and demographic data. Each artwork represents a day in the year of the 31 most populated cities across the globe. The artwork will be dropped on May 18 at FRIEZE New York and proceeds will benefit the preservation of glaciers around the world. The drop can be accessed at www.nft.carlachan.com from 11am EDT on May 18. Smart Token Labs is supporting Carla C...
Bloomberg strategist compares Bitcoin’s declining volatility to Amazon stocks in 2009
The Fed’s position against risk-on assets is purging the most speculative assets, such as meme coins. The senior commodity strategist at Bloomberg Intelligence, Mike McGlone, has forecasted the declining volatility against stock markets will allow Bitcoin and Ethereum to come out ahead While crypto markets have suffered greatly since the start of May, bearish conditions can only last finitely and there are signs the downturn is coming to an end or at least abating. In a recent interview with Yahoo Finance, Mike McGlone, the senior commodity strategist at Bloomberg Intelligence, has expressed his belief that even as the nascent crypto markets suffer alongside the S&P 500, the former will come out on top. Fed measures against inflation fuelled the recent crash McGlone explained that the ...
NFT prices take a gut punch as the crypto bear market deepens
Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. Nonfungible token (NFT) investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s LUNA and UST-based platforms collapsed and traders came to terms with the reality that the entire sector could be in a bear market. Things aren’t as bad as they were in 2018, but the NFT market isn’t as seasoned. Despite this, investors are already strapping up for potential future profits and ways to survive the current market downturn. Will blue-chip tier NFTs hold the line? Week after week, most blue-chip tier NFTs main...
Crypto users react to Terraform Labs legal team purportedly leaving company
The ongoing saga with Terraform Labs, the blockchain developer behind Terra (LUNA), took a turn following a supposed change in employment status for many on the firm’s legal team. According to their LinkedIn profiles, Terraform Labs general counsel Marc Goldich, chief litigation and regulatory counsel Noah Axler and chief corporate counsel Lawrence Florio have all stopped working for the blockchain firm as of May 2022. Goldich started at Terraform Labs in August 2021 while Axler and Florio joined in January 2022. The change in employment status for three members of Terraform Labs’ legal team followed major volatility in the crypto market after the price of LUNA collapsed to $0.00 within two weeks. Stablecoins including Tether (USDT) depegged from the U.S. dollar, while the price of TerraUS...
Bitcoin is discounted near its ‘realized’ price, but analysts say there’s room for deep downside
There are early signs of the “dust settling” in the crypto market now that investors believe that the worst of the Terra (LUNA) collapse looks to be over. Viewing Bitcoin’s chart indicates that while the fallout was widespread and quite devastating for altcoins, BItcoin (BTC) has actually held up fairly well. Even with the May 12 drop to $26,697 marking the lowest price level since 2020 multiple metrics suggest that the current levels could represent a good entry to BTC. BTC/USDT 1-day chart. Source: TradingView The pullback to this level is notable in that it was a retest of Bitcoin’s 200-week exponential moving average (EMA) at $26,990. According to cryptocurrency research firm Delphi Digital, this metric has historically “served as a key area for prior...
Commissioner Kristin Johnson to sponsor CFTC Market Risk Advisory Committee
United States Commodity Futures Trading Commission (CFTC) commissioner Kristin N. Johnson was named the sponsor of the agency’s Market Risk Advisory Committee (MRAC) on Tuesday. She replaced CFTC chair Rostin Behnam in that role. Johnson was nominated to be a CFTC commissioner by U.S. President Joe Biden in September 2021, concurrent to the nominations of commissioner Christy Goldsmith Romero and acting chairman Behnam as the permanent chair. Johnson was sworn in on March 30. She moved into the position after spending over a decade as a law professor. Johnson is the author of academic papers in which she has advocated for stricter controls over cryptocurrency. Johnson said in a statement: “Having spent my career in risk management oversight, I appreciate the MRAC’s significant and cri...
Bitcoin clasping to remain above $30k as Solana leads altcoins in recovery
Bitcoin has mounted a slight recovery following last week’s crash to a multi-month low of $26,350 Many altcoins have charted green candles today, with Solana leading the way among the top ten coins by market cap Leading a recovery upwards of $30k this week, Bitcoin lost ground after briefly hovering above $31k yesterday. The leading digital asset had built momentum from $28,700 last Saturday, climbing as high as $31,305 early Monday before retracing as far as $29,260, CoinMarketCap data shows. The pioneer crypto has since recorded a series of minor gains and is now pushing towards $31,000 again. However, the ascent above $30,000 has not been without opposition from bears. At the time of writing, Bitcoin is exchanging hands at $30,215 – having gained approximately 1.77% in the last 24...
FTX CEO favours PoS chains over Bitcoin for payment
Sam Bankman-Fried caused a stir on social media following remarks on Bitcoin’s inability to efficiently support millions of transactions per second He, however, believes the flagship cryptocurrency can serve as a store of value FTX CEO Sam Bankman-Fried, earlier this week, weighed in on the Bitcoin utility discussion. The crypto entrepreneur remarked that the notion that Bitcoin could facilitate payments into the future is a flawed one. In a recent interview with Financial Times, Bankman-Fried explained that Bitcoin lacks the measure of scalability desired to achieve adoption as a payments network on a mass scale. “Things that you’re doing millions of transactions a second with have to be extremely efficient and lightweight and lower energy cost. Proof of stake networks...
BitMEX to diversify by offering spot crypto trading services
The Seychelles-based crypto exchange unveiled its spot trading platform today The BitMEX founding trio was recently fined $30 million for conducting business in the US illegally BitMEX exchange now allows traders to buy and sell crypto assets offered on its newly launched spot trading platform. Prior to today, the exchange did not support spot crypto trading despite being founded more than half a dozen years ago and having spread to over 100 countries. “Today, BitMEX is one step closer to providing our users with a full crypto ecosystem to buy, sell, and trade their favourite digital assets,” CEO Alexander Höpner said. “We will not rest as we aim to deliver more features, more trading pairs, and more ways for our clients to take part in the crypto revolution.” Seven crypto products tr...
Fireblocks introduces Web3 Engine with developer tools to accelerate ecosystem growth
As the world accelerates towards a decentralized future, Fireblocks, a digital assets custody platform, announced the launch of their new Web3 Engine to help foster the development of the Web3 ecosystem. The company announced on Tuesday that the dedicated Web3 engine includes a set of tools for developers to create products and services in decentralized finance (DeFi), GameFi and nonfungible tokens (NFTs). Fireblocks has also opened up a world of decentralized apps (DApps), exchanges, NFT marketplaces and more for alternative asset managers and capital market participants. “Web3 is the future,” said Michael Shaulov, CEO of Fireblocks, adding that “we’ve already entered a new era of the Internet.” Shaulov said that for the Web3 ecosystem to continue to develop, the communi...
Spotify reportedly tests NFT galleries on musician profiles
Major music streaming platform Spotify is reportedly testing the option of nonfungible tokens (NFTs) galleries on musicians’ profiles. Should the tests appear successful, the embedment of NFTs would serve to improve artist and fan experiences. Reports surfaced on Friday that Spotify is running a test for select users of the platform’s Android app in the United States. These users can see the NFT previews on the artists’ profiles. Currently, there are only two such artists, DJ and producer Steve Aoki and indie rock band The Wombats — both are known for their adoption of NFTs. There is no possibility for a direct buy, but after reading about the NFT and getting the enlarged preview, the user can tap to be redirected to the OpenSea page where he could purchase the item....
