Crypto news
Crypto seen as the ‘future of money’ in inflation-mired countries
Last year, cryptocurrencies reached a “tipping point,” according to Gemini’s 2022 Global State of Crypto report, “evolving from what many considered a niche investment into an established asset class.” According to the report, 41% of crypto owners surveyed globally purchased crypto for the first time in 2021, including more than half of crypto owners in Brazil at 51%, Hong Kong at 51% and India at 54%. The study, based on a survey of 30,000 adults in 20 countries over six continents, also made a strong case that inflation and currency devaluation are powerful drivers of crypto adoption, especially in emerging market (EM) countries: “Respondents in countries that have experienced 50% or more devaluation of their currency against the USD over the last 10 years were more than 5 times as...
Mastercard files 15 metaverse and NFT related trademarks
Payments giant Mastercard has filed 15 nonfungible token (NFT) and metaverse trademark applications with the United States Patent and Trademark Office, or USPTO. Highlights of the filings include plans for a virtual community for interacting with digital assets, the processing of payment cards in the Metaverse, an online marketplace for buyers and sellers of downloadable digital goods, virtual reality events and more. One trademark filing for the company’s “Priceless” slogan consists of multimedia files such as artwork, text, audio and video that are authenticated by NFTs. Another application illustrates plans for its red and yellow “Circles” logo to process card transactions used for payment of goods and services in the Metaverse and other virtual worlds. An additional patent &...
Terra price key support level breaks after 30% weekly drop — more pain for LUNA ahead?
Terra (LUNA) price slid on April 11 as a broader correction across crypto assets added to the uncertainties concerning its token burning mechanism. Bitcoin (BTC) and Ether (ETH) led to a decline in the rest of the cryptocurrency market, with LUNA’s price dropping by over 8% to nearly $91.50, and about 30% from its record high of $120, set on April 6. The overall drop tailed similar moves in the U.S. stock market last week after the Federal Reserve signaled its intentions to raise interest rates and shrink balance sheets sharply to curb rising inflation. Arthur Hayes, the co-founder of BitMEX exchange, said Monday that Bitcoin’s correlation with tech stocks could have it run for $30,000 next. In other words, LUNA’s high correlation with BTC so far this year puts it at risk...
Fortnite creators Epic Games raise $2B from Sony and LEGO to fund metaverse plans
Epic Games, the video game publisher behind the popular PC and console game Fortnite, announced a $2 billion funding round with plans to accelerate the company’s vision to make its mark in the Metaverse. The deal, which is still subject to customary regulatory approvals, would bring Epic’s equity valuation to $31.5 billion. This round includes a respective $1 billion investment from existing investor Sony Group Corporation and from KIRKBI, the holding company behind the LEGO Group. Sony, the company behind PlayStation consoles, also invested $200 million into Epic in April 2021. According to a statement, the three partners plan to combine expertise and technologies to influence the future of entertainment and digital play by developing new virtual production initiatives and digi...
Should you buy these AMM tokens: UNI, CAKE, SUSHI and 1INCH
Uniswap (UNI), PancakeSwap (CAKE), Sushi (SUSHI), and 1inch (1INCH) are all AMM tokens. Each token has showcased signs of growth. All of these tokens have the potential to reach new heights in terms of their value. Uniswap (UNI), PancakeSwap (CAKE), Sushi (SUSHI), and 1inch (1INCH) are all automated market maker (AMM) tokens, and all of them have huge potential for growth. We will be going over all of these tokens individually so you can have a heightened perspective of how far they can grow in value. Should you buy Uniswap (UNI)? On April 11, 2022, Uniswap (UNI) had a value of $9.34. When we look at its ATH value, Uniswap (UNI) had a value of $44.92 on May 3, 2021. Going over the performance in March, Uniswap (UNI) had its lowest value on March 7 at $8.20. Its highest point was on M...
Bitcoin loses support above $42,000 as crypto markets turn red
Bitcoin is trading below $42k for the first time in almost three weeks Altcoins led by Ether have shed some of the gains from the rally at the end of March A sharp fall in the prices of the majority of the top cryptocurrencies on Monday has pushed the total crypto market capital below $2 trillion. The dip, which started late yesterday, continued overnight and has been the theme throughout the day. Red is the order of the day The market leader, Bitcoin, glided under $42,0oo earlier today and was last observed trading at $41,030. These figures reflect a downward movement of 3.7% on the day and 10.85% over the week. Market data shows BTC/USD hasn’t retouched the current level since March 22. Ether price has moved down 6.25% in the last 24 hours and the token appears likely to fall below $3,00...
Weekly Report: Robinhood wallet goes live, Binance has both feet in Dubai and more
Here are the top headlines that you might have missed from the last week throughout to the weekend: Block, Blockstream and Tesla collaborate to achieve scaled Bitcoin mining using entirely renewable energy Abu Dhabi grants Binance in principal approval as a digital assets broker-dealer Robinhood’s crypto wallet is live but does not support NFTs and some cryptocurrencies, including Solana and Tether Pether Thiel terms Buffet, Dimon, and Fink as members of the “finance gerontocracy” holding back Bitcoin Coinbase has halted deposits via India’s UPI payment instrument Blockstream and Block launch a joint solar-powered Bitcoin mining initiative in Texas Blockstream co-founder Adam Beck on Friday announced during the Bitcoin 2022 Conference in Miami that his firm was launching a collaborative ve...
Content creators introducing a new paradigm with NFTs
Nonfungible tokens (NFT) have created an environment where artists can take control of their work and finances. Experts agree that artists and creators that tokenize their work and issue it as NFTs no longer have to deal with third-party intermediaries. Although galleries have traditionally done the leg work in attracting buyers, they are seeing their utility diminish as cheaper decentralized apps (DApps) make it easy for investors to connect directly with their favorite artists. This is creating a new paradigm in the creator economy driven by NFTs. As the creator economy has topped $100 billion with plenty of upsides, and NFT marketplaces OpenSea and LooksRare doing over $100 million in daily volume according to market tracker DappRadar, it makes a lot of sense for creators to figur...
Cathie Wood’s Ark Invest dumps PayPal, favoring Bitcoin-friendly Cash App
Crypto investment company Ark Invest founder Cathie Wood has dumped all of the firm’s holdings of PayPal and showed greater confidence in the long-term growth of the Cash App payment system which uses the Bitcoin (BTC) Lightning Network. Wood explained her firm’s move at the Miami Bitcoin 2022 conference which wrapped up on Saturday. The Lightning Network (LN) is a layer-2 solution for Bitcoin meant to facilitate faster and cheaper transactions. Financial technology company PayPal operates the payment app Venmo as a direct competitor with Block’s (formerly Square) Cash App. “@ARKInvest has sold, completely got out of Paypal, whose Venmo is a big competitor to Cash App. (Cash App has) much more conviction – especially when it comes to bitcoin.” pic.twitter.com/mUGkdWGMFX — M...
BTC stocks correlation ‘not what we want’ — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts the second week of April with a whimper as bulls struggle to retain support above $40,000. After a refreshingly low-volatility weekend, the latest weekly close saw market nerves return, and in classic style, BTC/USD fell in the final hours of April 10. There is a feeling of being caught between two stools for the average hodler currently — macro forces promise major trend shifts but are being slow to play out. At the same time, “serious” buyer demand is also absent from crypto assets more broadly. However, those on the inside show no hint of doubt about the future, as evidenced by all-time high Bitcoin network fundamentals and more. The combination of these opposing factors is price action that simply does not seem to know where to go next. Can something change in the ...
Nifty News: AC Milan launches NFT collection, Magic Eden accepts Solana projects’ tokens and more
Italian professional soccer club AC Milan will be releasing its first-ever nonfungible token (NFT) project in collaboration with the BitMEX crypto exchange. Proceeds will go to Fondazione Milan, the clubs’ charity arm. The limited-edition collection will feature 75,817 NFTs, a number representative of the capacity of the club’s home ground, San Siro stadium. It will depict a 3D image of a jersey found in South Sudan by Danish war photographer Jan Grarup who was in the country documenting widespread flooding last December. BitMEX partnered with AC Milan to contribute to the project by providing trading discounts and “other benefits” to the first 10,000 pre-orders. BitMEX will also donate to Fondazione Milan by purchasing a “large number” of the NFTs. As per the announcement, the club says t...
Solana NFT marketplace integration and DApp metrics shine even after SOL’s 20% drop
Solana (SOL) price reached $143.50 on April 2 after an incredible 82% rally over a 20 day period. This positive performance can be attributed to recent NFT markets-related news and a marketwide bounce, but the current 22.7% decline could have investors confused. Solana/USDT at FTX. Source: TradingView The rally started after Coinbase Wallet added support for SOL and other Solana-based blockchain tokens on March 18. The crypto exchange also outlined plans to “further integrate” with Solana by connecting the Coinbase Wallet with the decentralized applications (DApps) and nonfungible tokens (NFTs) hosted on the network. The expectation of OpenSea’s integration of the Solana network also excited investors. This means Solana will join Ethereum, Polygon and Klaytn as the ...
