Crypto news

Hodler’s guide to travel: Which platforms accept cryptocurrency?

The global economy is becoming increasingly digital, and it’s no surprise that cryptocurrencies and blockchain technology are starting to have an impact on the travel industry. Many travel agencies now accept Bitcoin (BTC) and other digital currencies as payment, with some even providing discounts to customers who pay in cryptocurrency. Here is a list of popular travel booking platforms that take BTC, as well as embrace blockchain technology. 1INCH Network to bring crypto payments to the travel industry The decentralized exchange aggregator 1inch Network on Thursday announced a partnership with the travel booking platform Travala.com, which will allow users to pay for their hotel bookings with cryptocurrency. Users of Travala.com can now use their favorite cryptocurrency to purchase ...

Is there a secure future for cross-chain bridges?

The plane touches down and comes to a halt. Heading to passport control, one of the passengers stops at a vending machine to buy a bottle of soda — but the device is absolutely indifferent to all of their credit cards, cash, coins and everything else. All of that is part of a foreign economy as far as the machine is concerned, and as such, they can’t buy even a droplet of Coke. In the real world, the machine would have been quite happy with a Mastercard or a Visa. And the cash exchange desk at the airport would have been just as happy to come to the rescue (with a hefty markup, of course). In the blockchain world, though, the above scenario hits the spot with some commentators, as long as we swap traveling abroad for moving assets from one chain to another. While blockchains as decentraliz...

SpaceX to follow Tesla in accepting DOGE payments for merch: Elon Musk

Just four months after EV manufacturer Tesla started accepting Dogecoin (DOGE) for merchandise purchases, Elon Musk announced his plan to extend the payment option for his space exploration company, SpaceX.  Musk, the CEO of SpaceX and Tesla, has been a staunch supporter of the DOGE ecosystem since 2019 and has since publicly revealed interest in accepting meme coin payments across his multibillion-dollar enterprises. Tesla merch can be bought with Doge, soon SpaceX merch too — Elon Musk (@elonmusk) May 27, 2022 Historically, Musk’s pro-Dogecoin tweets have had an immediate and positive impact on DOGE’s market prices as investors try to cash in on the hype. However, the recent revelation about SpaceX’s plan to accept DOGE payments for merchandise had no significant effect on the price...

Identity is the antidote for DEXs’ regulation problem

Regulators from Europe, the United States and elsewhere are busily hammering out details on how to designate decentralized exchanges (DEXs) as “brokers,” transaction agents or similar entities that affect a transfer and cooperate with each other. The U.S. called for multinational cooperation in its executive order on responsible digital asset development, as did the European Union with its recent Financial Stability and Integration Review. And that is just what’s publicly accessible.  Behind the scenes, the whisper of regulation is getting louder. Did anyone notice that all the Know Your Customer (KYC) requirements have been laid on smaller centralized exchanges in exotic locations over the past two months? That was the canary in the coal mine. With the aforementioned designation and ...

India to roll out CBDC using a graded approach: RBI Annual Report

Further cementing India’s decision to introduce an in-house central bank digital currency (CBDC) in 2022-23, the Reserve Bank of India (RBI) proposed a three-step graded approach for rolling out CBDC “with little or no disruption” to the traditional financial system. In February, while discussing the budget for 2022, Indian finance minister Nirmala Sitharaman spoke about the launch of a digital rupee to provide a “big boost” to the digital economy. In the annual report released Friday by India’s central bank, RBI revealed exploring the pros and cons of introducing a CBDC. In the report, RBI stressed the need for India’s CBDC to conform to India’s objectives related to “monetary policy, financial stability and efficient operations of currency and payment systems.” Based on this need, RBI is...

Identity and the Metaverse: Decentralized control

“The Metaverse” and “Web3” are the buzzwords of the moment, with their concepts permeating across the worlds of fintech, blockchain, and now even mainstream media. With decentralization thought to be at the core of the Web3 Metaverse, the promise of a better user experience, security and control for consumers is what’s driving its growth. But with users’ identities at the heart of the Metaverse, coupled with unprecedented amounts of data online, there are concerns over data security, privacy and interoperability. This has the potential to hinder the development of the Metaverse, but both regulated and self-sovereign identities could play an important role in ensuring that we truly own our identity and data within this new space. Related: Digital sovereignty: Reclaiming your private data in...

Bitcoin price action decouples from stock markets, but not in a good way

This week the stock markets began to flash a little green and Bitcoin (BTC) is decoupling from traditional markets but not in a good way. The cryptocurrency is down 3% while the Nasdaq Composite tech-heavy stock market index is up 3.1%. May 27 data from the United States Commerce Department shows that the personal savings rate fell to 4.4% in April to reach the lowest level since 2008 and crypto traders are worried that worsening global macroeconomic conditions could add to investors’ aversion to risky assets. For example, Invesco QQQ Trust, a $160 billion tech company-based U.S. exchange-traded fund, is down 23% year-to-date. Meanwhile the iShares MSCI China ETF, a $6.1 billion tracker of the Chinese shares, has declined 20% in 2022. To get a clearer picture of how crypto traders are posi...

JPMorgan sees higher BTC price potential, a16z unveils $4.5 billion crypto fund and PayPal hints at more crypto involvement: Hodler’s Digest, May 22-28

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind and more than double the amount of its third crypto investment fund. With $3 billion earmarked for venture investments and $1.5 billion for early-seed projects, the fund will look to invest in companies at various stages in their life cycle. Andreessen’s new fund provides a strong indicator that ...

Terra (LUNA) 2.0 relaunches according to Do Kwon’s revival plan

Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem.  Kwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing LUNA tokens to existing investors based on a snapshot before the death spiral bled the LUNA and UST markets — effectively resulting in unrecoverable losses for investors. Pheonix-1 mainnet is now live and producing blocks – public node services, wallets and explorers should be going live shortly. pic.twitter.com/cpxiNKl6aX — Do Kwon (@stablekwon) May 28, 2022 Dubbed Phoenix-1, the Terra 2.0 mainnet went live today, May 28,  as per the original timeline set by Terra developers and started producing blocks. ...

NFT 2.0: The next generation of NFTs will be streamlined and trustworthy

Nonfungible tokens (NFTs) have been in the headlines for the past few years. While swaths of the population have tried to get their head around why NFTs exist, demand has soared, institutions have been built, and the lingo has entered our collective consciousness. There is an elephant in the room, though: NFTs are difficult to use and a majority of them are digital snake oil. But these problems create the opportunity to provide answers. The accessibility and legitimacy of NFTs are both ripe for change. As funding pours into the space, the market is starting to mature, and that change is gaining momentum. We’re entering a new era of NFTs — NFT 2.0 — where the technology will be more easily accessible by the mainstream, and the underlying value proposition of the NFTs will be more transparen...

The key technologies that power the Metaverse

The latest development of the Metaverse was made possible due to technologies like artificial intelligence (AI), the Internet of Things (IoT), AR, VR, 3d modeling, and spatial and edge computing. Artificial intelligence AI paired with Metaverse technology ensures the Metaverse infrastructure’s stability while also delivering actionable information for the upper layers. NVIDIA technologies are a good example of how AI will be crucial in developing digital spaces where social interactions will occur in the Metaverse. Internet of things While IoT will allow the Metaverse to study and interact with the real world, it will also serve as a 3D user interface for IoT devices, allowing for a more personalized IoT experience. Both the Metaverse and the Internet of Things will assist organizati...

STEPN rebounds sharply after falling 80% in a month — is GMT price bottoming out?

A massive downtrend in the STEPN (GMT) prices witnessed in the last 30 days appears to be nearing exhaustion. GMT’s price has rebounded by nearly 35%—from $0.80 on May 27 to $0.99 on May 28. Interestingly, the upside retracement started after the price fell in the same range, which had acted as support before GMT’s 500% and 120% price rallies in March and early May, respectively. GMT/USD daily price chart. Source: TradingView Additionally, the rebound further preceded an 80% drop from its record high of $4.50, established on April 27, which left GMT oversold, per its daily relative strength index reading that slipped below the oversold threshold of 30 on May 26. The technical support, in addition to oversold RSI, suggests GMT is in the process of bottoming out. GMT price levels...