Crypto News

  • LUNA Outperforms Bitcoin’s Rally, Why It’s Ready For Massive Gains

    Bulls are in control as Bitcoin and the crypto market break every all-time high, coming into the top 10 is Terra’s native cryptocurrency LUNA with a 12.9% rally in the daily chart. Trading north of $40, at press time, this cryptocurrency has outperformed BTC and major altcoins in lower timeframes. However, LUNA could be just firing up its engines and getting ready for a fresh leg-up in the short term. The Terra ecosystem has been implementing major improvements to its ecosystem in the past months. Related Reading | Why The Terra Ecosystem Delayed A Major Mainnet Upgrade For Late September Therefore, LUNA could have multiple bullish reasons to continue to outperform the market. As researcher Ryan Watkins recently indicated, Terra is closed to implementing all 3 massive upgrades on its infrastructure. The Colombus-5 and Wormhole V2 upgrades have gone live, and the Inter-Blockchain Communication (IBC) protocol upgrade is set to roll out today, October 20th. As NewsBTC reported in August, Columbus-5 was delayed providing every actor on the Terra ecosystem with more time to prepare for the upgrade. Designed to introduce a deflationary mechanism for LUNA, this upgrade will increase Terra’s interoperable capabilities while creating more demand for its underlying asset. In the meantime, the Wormhole upgrade will operate as the communication component between Terra, Ethereum, Solana, Binance Smart Chain, and potentially more blockchains in the future. Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program In addition, the upgrade introduced a user interface that will remove friction between the network value transfer capacity. Finally, the IBC protocol will allow Terra to benefit from “permissionless trans of tokens across chains”. The team behind Wormhole celebrated the achievement: Terra is known for its vibrant ecosystem, #LUNAtic community, and its decentralized stablecoin, $UST. Terra has grown at a dramatic rate in recent months, and we’re excited to unleash Terra innovation on the SOL, ETH, and BSC communities! LUNA Ready For Take-Off? Bull Market In Its Early Days Historically, tokens with interoperable capacities have performed well. Binance Smart Chain token BNB, integrated with its own burn mechanism, went from a low below $30 in 2020 to an all-time high above $600 on the back of its CeDeFi utility. Related Reading | Can LUNA Reach $170? This VC Fund Thinks It Has The Fundamentals Terra has another secrete weapon in its stablecoin UST. Talking about recent developments, Watkins claimed that the Terra ecosystem has built the potential for a new cross-chain trade boom. In September, the researcher made the following prediction: With Colombus-5 and Wormhole V2 going live in the coming weeks, UST growth will likely accelerate, setting it up to challenge DAI for the top spot among decentralized stablecoins. As seen in the chart below, Terra’s native UST has taken the decentralized stablecoin market by storm. Since February 2021, its dominance over this sector has skyrocketed and seems poised to continue the trend with an upgraded ecosystem. As Watkins pointed out, there are two main trends that will allow UST and Terra to grow: new capital coming into the ecosystem due to the upgrades, UST moving onto new platforms. In totality these catalysts could all drive a ton of new demand for UST in the coming months, which has already been the fastest growing decentralized stablecoin in 2021. — Ryan Watkins (@RyanWatkins_) September 15, 2021

  • Medical Firm In Mexico To Introduce COVID-19 Testing Through Blockchain

    Blockchain technology remains the revolutionary aspect of cryptocurrency and the entire digital assets as a whole. It brought more innovations and popularity to the industry, which have attracted more users and developers. The use of blockchain technology is erupting within several mainstreams and sectors of the global economy. Recently, this amazing technology has found a useful application in the medical field. A Mexican medical firm, MDS, has launched a coronavirus testing service that utilizes blockchain technology to confirm its results. A local media report, iProUP news reported that MDS Mexico launched a digital result-profiled platform. This will enable its patients to access their results as updated in real-time. Furthermore, the physical delivery of the results comes with a QR code. Related Reading | Bitcoin ETF Check, What’s Next For BTC This enables scanning for the verification of the results. Also, from MDS Mexico’s blockchain, it’s very easy to access the vaccination history of a patient. Purpose For Blockchain Adoption According to its report, MDS mentioned that adopting blockchain technology is a means of safeguarding all the results of its clinical tests. Also, it will protect the personal data of patients as well prevent COVID test result falsification. The company explained that it commenced the certification of the SAR-CoV-2 detection tests via cryptographic signature and blockchain technology. This move eliminates the possibility of getting falsified negative results. Thus, the QR Code, which remains unalterable, unique, and immutable, protects the information and is verifiable globally. Moreover, the medical firm’s blockchain has uploaded testing results that contain a doctor’s cryptographic signature. This must be the doctor that verified the result of the test. Before now, there have been other companies in Mexico using digitized covid test results. One of such moves is the April announcement from Mexico’s National Chamber of Commerce (CANACO) of a state-sponsored initiation. According to CANACO, the initiative is a collaboration with Xertify, a private technology company, for the digitalization of vaccination passports. For this initiative, there are some requirements from the beneficiary. These include their official means of identification and proof of the vaccination from the Ministry of Health. Crypto market is at its all-time highs | Source: Crypto Total Market Cap on Also, a representative from the Xertify firm disclosed that his company is in charge of the vaccination receipt digitalization. He mentioned that this would help in its authentication in another language without falsification. Related Reading | Grayscale Investments Set to File for Bitcoin Spot ETF as Competition Heats Up Similarly, an Australian firm in August facilitated the use of a vaccine registry based on blockchain technology. The company opted for such an introduction to cut down the proliferation of counterfeit coronavirus vaccination certificates floating online. Through the blockchain-based registry, there will be a stop to the involvement of fraudsters selling fake COVID-19 certificates. Featured Image From Pexels and Chart From

  • Crypto Fraudsters Who Raised $24,000,000 for Fictitious Bitcoin-Mining Facility Face 5 Years in Jail for Tax Evasion

    Two founders of a cryptocurrency firm that defrauded investors are facing up to half a decade in prison for tax evasion. According to the U.S. Attorney’s Office in the Northern District of Texas, Bruce Bise and Samuel Mendez founded crypto company Bitqyck and held an initial coin offering (ICO) in 2016, raising approximately $24 million The post Crypto Fraudsters Who Raised $24,000,000 for Fictitious Bitcoin-Mining Facility Face 5 Years in Jail for Tax Evasion appeared first on The Daily Hodl.

  • Bitcoin and Crypto Will Devour Gold and Other Assets, Says Bloomberg Commodity Strategist Mike McGlone – Here’s Why

    Bloomberg Intelligence’s senior commodity strategist Mike McGlone says that Bitcoin (BTC) adoption will continue to siphon off market share from more traditional assets such as gold. In a new interview with BNN Bloomberg, the analyst says he is not completely bearish on gold, but recognizes that Bitcoin is the currency of the younger digital generation. The post Bitcoin and Crypto Will Devour Gold and Other Assets, Says Bloomberg Commodity Strategist Mike McGlone – Here’s Why appeared first on The Daily Hodl.

  • As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

    The history of the Bitcoin netflow indictor may suggest that the current market is ready for the next major price swing up as the crypto makes a new ATH. Bitcoin Netflow Has Historically Approached Zero Before Major Price Upswings As explained by an analyst in a CryptoQuant post, there seems to be a relationship between BTC netflows and price swings upward. The Bitcoin netflow indictor is defined as the difference between the inflows and the outflows, and it shows the net amount of the crypto entering or exiting centralized exchanges. When the metric takes on negative values, it means there are more investors withdrawing their coins compared to those depositing. Sustained such a trend can be bullish for BTC as holders usually take their crypto off exchanges for hodling or selling through OTC deals. On the other hand, when more coins are flowing into exchanges than those flowing out, the netflow shows positive values, which may be bearish as it implies investors are sending their Bitcoin to exchanges for withdrawing to fiat or for buying altcoins. Now, here is a chart that shows the trend in the value of the indicator over the last year: The relation between BTC price and the netflows | Source: CryptoQuant In the above graph, the analyst has marked the behavior of the indicator compared with the Bitcoin price. As is apparent, the netflow always touched the zero mark right before a big price move up. A netflow value of zero means the investors taking out their coins from exchanges are balanced by those putting them in. Related Reading | Bitcoin Futures ETF Exceeds Expectations, Trades $1 Billion On Day One This trend seems to have been followed during the bull run earlier in the year, and so far the current rally has also followed it. Right now, the netflow is right at zero, which makes the current point suitable for making another big move up. And it seems to have already begun as… BTC Price Makes New All-Time High! Bitcoin has reached a new ATH today as the crypto trades at $66k at the time of writing. The below chart shows the trend in the price of BTC over the last 24 hours. Related Reading | Ethereum Breaks $4,000, All-Time High Unavoidable? BTC breaks past $65k to make a new ATH | Source: BTCUSD on TradingView Bitcoin is now heading into unknown territories as every move up now will result in a new ATH to be reached. Knowledge of past bull runs hints that the volatility will probably shoot up now and the crypto will experience wilder price swings. And if the netflows are anything to go by, BTC looks ready to explode from this point. Featured image from, charts from,

  • Losing Everything in Vegas Is Legal, but Heaven Forbid We Buy Crypto Assets: Raoul Pal to SEC

    Macro guru Raoul Pal says that federal regulations on crypto investing are inconsistent with existing laws in other areas. In a new interview, the Real Vision chief executive officer says that it makes little sense for regulators to allow consumers to risk losing all of their money in Las Vegas while also keeping a close The post Losing Everything in Vegas Is Legal, but Heaven Forbid We Buy Crypto Assets: Raoul Pal to SEC appeared first on The Daily Hodl.

  • U.S. Treasury Department Warns Digital Currencies Are Thwarting Sanctions Efforts

    The U.S. Treasury Department is contending that cryptocurrencies stunt sanctions efforts and threaten national security, foreign policy, and economic interests. The warning comes after a six-month Treasury Department review of the country’s sanctions program and policies. The seven-page report details how international actors are already reducing their exposure to the US financial system. “American adversaries – The post U.S. Treasury Department Warns Digital Currencies Are Thwarting Sanctions Efforts appeared first on The Daily Hodl.

  • HUMBL To Use BLOCKS To Initiate Strategic Collaboration on Blockchain Initiatives

    In the blockchain industry, partnerships and strategic collaborations are essential for industry growth and expansion. With the boom of the relatively young decentralized finance (DeFi) and non-fungible token (NFT) market, projects need to collaborate to consolidate on the rise and further drive the market higher. There have been several notable partnerships within the blockchain industry, but the newest that has been making waves is the collaboration between BLOCKS and HUMBL. Both are currently experimenting with the use of sidechains and bridges to minimize the cost fees on NFTs by close to 98%. With this partnership, HUMBL has become the first among the growing number of companies within the Blocks Builders to leverage the various Blocks Builder’s Modules to build better using BLOCKS. The Goal of the Collaboration Between BLOCKS And HUMBL There are lots of things that will be achieved through this collaboration. Both platforms are already working on improving the non-fungible token (NFT) metadata storage across projects like music and video. They are also trying to develop a better “verified by BLOCKS ” registry built to enable users to authenticate, track, and verify their NFT holdings irrespective of their location. Both BLOCKS and HUMBL are also experimenting with BLOCKS builders blockchain plugin modules that include ticketing, real estate, payments, etc., on the HUMBL Wallet and the HUMBL platform. In the words of Adam Wolfe, the lead blockchain consultant at BLOCKS, “Whether it was Cisco packaging router and switches, or Apple packaging megabytes and cell minutes on their partner networks, every technology cycle has paired consumer packaging companies and the network they run on. The HUMBL and BLOCKS Network teams hope to do the same thing here, in giving global consumers a smarter blockchain grid and simple packaging layer on top of it.” What is BLOCKS? BLOCKS is the first legally registered Wyoming DAO LLC in the blockchain industry. They are currently an open-source software stack for DAOs, including a library of governance protocols and friendly interfaces to build and manage DAOs. The team is also open to partnering, collaborating, or joining forces with like-minded entities, individuals, as well as network participants to set the standard for a legally registered DAO LLC. The BLOCKS platform is poised to connect industries and enterprise-grade technologies to the blockchain network by employing an industry and blockchain agnostic approach. Working closely with Wyoming legislatures, BLOCKS is able to build the first legally registered decentralized autonomous organization (DAO) in the world. The team believes that BLOCKS DAO is a beacon of the future and critical to their journey of progressive decentralization. According to the information available on the BLOCKS website, they will pave the way for DAOs across the world as a model of compliance and accountability. You can also join the BLOCKS waitlist to enjoy these services. At the heart of the BLOCKS, DAO, and Builder Program is the BLOCKS Token. The token powers everything from on-chain governance to enterprise transactions happening within the BLOCKS Builder’s partnerships. More details about the BLOCKS can be accessed on the BLOCKS blog page. Overview of HUMBL HUMBL is a consumer blockchain company that works to simplify the use cases of blockchain technology. The company simplifies blockchain use cases across verticals such as payments, ticketing, non-fungible tokens, and real estate. HUMBL is connecting consumers and merchants in the digital economy. The HUMBL ecosystem is being developed to support the over 162 million freelancers in Europe and the United States. For freelancers, HUMBL makes it possible for them to receive payment from wherever they are and whenever they need them. It gets more interesting with HUMBL; anybody can become a merchant in just a day without additional hardware or even strict contracts. HUMBL also designed a payment app for consumers across borders and currencies. For more details, you can read the HUMBL blog.  

  • Under-the-Radar Catalyst Could Secretly Spark Huge Long-Term Bitcoin Rally, Says Crypto Analyst Benjamin Cowen

    Popular crypto analyst Benjamin Cowen says that one overlooked catalyst could ignite a big long-term rally for Bitcoin (BTC). In a new strategy session, the analyst takes a look at the dollar index (DXY), which compares the US dollar against a basket of other major fiat currencies. Generally speaking, a weaker dollar can often imply The post Under-the-Radar Catalyst Could Secretly Spark Huge Long-Term Bitcoin Rally, Says Crypto Analyst Benjamin Cowen appeared first on The Daily Hodl.

  • Blockchain Firm Chainalysis Is Adding Bitcoin To Its Balance Sheet

    Chainalysis has announced that it plans to add bitcoin to its balance sheet. The news came as a surprise to crypto investors as it is usually expected that a firm so deeply ingrained in the blockchain technology ecosystem would own some crypto. According to the blog post on its website, the firm had previously not owned any cryptocurrencies and this will be the first time Chainalysis is purchasing BTC. Bitcoin has been purchased as an investment strategy by companies who are in and out of the blockchain space. The digital asset presents an alternative means of investment for people who want to have total control of their assets. With its recent purchase, Chainalysis joins the ranks of companies who are holding BTC for the long term, according to statements on the post. Chainalysis Takes The Leap With Bitcoin Chainalysis revealed in the post that it was buying bitcoin to put on its balance sheet. The company which is valued at $4.2 billion will put the purchased BTC in its corporate investment portfolio and intends to hold for the long term. Related Reading | Number Of Bitcoin Whales On The Rise As BTC Chases New All-Time High The company provides valuable software analysis software that helps exchanges comply with regulations. Its software is also used to assess risk and identify illegal activities that are being carried out on the blockchain, helping law enforcement to track the perpetrators. Co-founder and CEO of Chainalysis, Michael Gronager, said, “Chainalysis is laser-focused on its commitment to building trust in cryptocurrency as a digital asset and we are thrilled to be adding bitcoin on our corporate investment portfolio.” Speaking on this being the first cryptocurrency purchase on the part of the firm, Gronager added, “This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments.” BTC surges past $64K | Source: BTCUSD on Partnership With NYDIG In order to purchase and custody the bitcoins, Chainalysis had expanded its partnership with bitcoin technology and financial services firm NYDIG. Both firms have been working together since they announced that Chainalysis would be NYDIG’s compliance technology partner in 2018. The BTC was purchased through the financial services firm and NYDIG will custody the digital assets on behalf of Chainalysis. Related Reading | Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin “Our expanding partnership with Chainalysis is a mutually beneficial relationship. Chainalysis has long been building trust in the digital asset ecosystem, and this investment shows their belief that bitcoin is a sound investment for the future. We are happy that they trusted our platform to safeguard their assets.” – Nate Conrad, Head of Asset Management, NYDIG The acquisition highlights Chainalysis’ long-standing faith in BTC as a long-term investment strategy. Bitcoin has been a profitable investment venture for companies that have invested in the digital asset in the past and Chainalysis stands to profit from the asset’s growth in the future. Featured image from Bitcoin News, chart from

  • Brazilians Have Invested Over $4,000,000,000 in Crypto This Year, According to Central Bank: Report

    Brazil’s top bank is revealing that Brazilians have purchased billions of dollars worth of cryptocurrencies this year, according to Portal do Bitcoin. The Central Bank of Brazil says that year-to-date, Brazilians have bought crypto assets worth $4.27 billion. The largest monthly crypto purchase of 2021 occurred in May when Brazilians acquired $756 million worth of The post Brazilians Have Invested Over $4,000,000,000 in Crypto This Year, According to Central Bank: Report appeared first on The Daily Hodl.

  • Polygon-Based Multi-Region Fantasy Game Gaia EverWorld Closes $3.7 Million Seed Round

    October 20, 2021 – Tortola, British Virgin Islands Gaia EverWorld, an immersive, multi-region fantasy world where players are able to build their own kingdoms, has already secured $3.7 million in funding from prominent blockchain industry investors via a private sale. Inspired by classic games like ‘Pokémon,’ ‘Clash of Clans’ and ‘Age of Empires,’ Gaia EverWorld The post Polygon-Based Multi-Region Fantasy Game Gaia EverWorld Closes $3.7 Million Seed Round appeared first on The Daily Hodl.

  • Reinventing Stablecoins?

    Ruling the headlines on the BSC network is now a norm for the Mars Ecosystem. Armed with some of the highest APRs in the DeFi space and an ever-growing TVL, the team recently earned a Monthly Star in the Binance Smart Chain “Most Valuable Builders” program and is working towards reinventing the utility of Stablecoins. With BSC supporting Mars’ products and technology, it adds a layer of credibility to the constantly evolving Mars ecosystem. In this write-up, we will deep dive into stablecoins and what Mars Ecosystem means to the future of DeFi and crypto. Stablecoins were first introduced as a blend of stability of fiat currency and mobility of cryptocurrencies. Generally, they are backed by underlying assets or algorithms. Stablecoins ensure that money is borderless and accessible to everyone without the need for a bank or a central authority. Simply put, if Bitcoin is decentralized gold, then stablecoins are decentralized currencies. However, with time and usage, specific attributes of stablecoins have turned them into the antithesis of decentralization. Also, they have ignited the fire for the genesis of the Mars Ecosystem and its vision to reinvent stablecoin with decentralization and scalability intact. Current Landscape of Stablecoins The market cap of all stablecoins is worth nearly $128 billion with Tether (USDT) accounting for more than half of the value. Despite not having one decentralized stablecoin that fulfills the basic requisites, the stablecoin market enjoys a huge upside, courtesy of DeFi. Every decentralized stablecoin protocol needs 1. Price stability, 2. Overall decentralization, and 3. Scalability. Today, most of the stablecoins are overcollateralized which directly affects their scalability. Also, many stablecoins are pegged to assets deposited in centralized systems which effectively goes against the ethos of blockchain technology and DeFi. Though Algorithm-based stablecoins do away with the collateral issues, their price stability is a huge concern. Major Concerns of Stablecoins Currently, every stablecoin protocol has its share of tradeoffs with regards to the three properties. However, all the issues boil down to two key concerns. They are 1. The positive externality problem, 2. The integration problem. The positive externality problem reflects the imbalance in efforts to reward ratio for the stablecoin protocols. The cost of producing and maintaining stablecoins is borne by the protocol and its users. However, stablecoin’s value is generated in DeFi applications. The financial incentive for the stablecoin protocol is minimal which often ends up with a shortage of supply. The integration problem is quite similar to the previous concern of how stablecoins’ value is solely decided by DeFi apps. Stablecoins are impacted by their ease of integration with various DeFi protocols. If a stablecoin cannot be integrated with a certain DeFi protocol easily, the stablecoins’ stability is affected. To resolve these, Mars Ecosystem stands apart as a decentralized stablecoin paradigm with an all-inclusive system to capture the true utility of stablecoins. Mars Ecosystem 101 As a potential solution to the positive externality and integration concerns Mars Ecosystem presents a three-part system. Their efforts are concentrated on producing a stablecoin ecosystem with high price stability, high decentralization, and scalability potential. These efforts have been recognized by the Most Valuable Builder (MVB), an initiative by Binance Smart Chain to support innovative projects. The Mars Ecosystem was one of the winners of the MVBIII – September Monthly Stars. Also, the Mars Ecosystem will receive key support from BSC, not limited to financial influx. The mentoring and technical assistance provided can be a gamechanger for the Mars Ecosystem. The three cores of the Mars Ecosystem are; Mars Treasury This is the foundation on which the Mars Ecosystem resides and grows. Its building blocks are $USDM or USD-Mars (Mars Ecosystem stablecoin) and $XMS or Mars Ecosystem Token (Mars Ecosystem governance token). Their treasury is built to support multiple types of cryptos from the likes of BTC to DeFi blue chips. The team is equipped with minting and redemption mechanisms for the circulation of $USDM. With a set 1:1 ratio, users can deposit their assets into the Mars Treasury to mint $USDM and vice-versa. The circulation of $USDM fuels the value of $XMS which can be used to participate in the governance of the protocol. Mars Stablecoin $USDM stablecoin can be minted with $1 worth of any of the Mars Treasury white-listed assets. The maximum supply of the $USDM is relative to the market cap of $XMS. This cap in supply is part of their mintage control mechanism which accounts for users’ behavior to ensure the price of $USDM is always stable. Also, an anti-bank run mechanism has been enabled to protect $USDM from mass shorting and a potential collapse. This is ensured by incentivizing the holding time of the token. Malicious actors trying to encash on the difference in the collateral ratio of $USDM and $XMS fail in their efforts as quick sales are burdened with slippage losses. This makes bank runs an unfeasible activity in the Mars Ecosystem. Mars DeFi Protocols This is a series of functionalities being added to the Mars Ecosystem to facilitate transactions, improve liquidity, and enhance $USDM’s utility as a medium of exchange and store of value. First in the series of DeFi protocols is Mars Swap which is an automated market maker-powered DEX similar to Uniswap. Mars Swap This DEX is designed to provide 24/7 liquidity for $USDM and other DeFi protocols that adopt $USDM as a token of exchange. Also, the transaction fees generated on Mars Swap are pushed back into the Mars Treasury where liquidity providers and $XMS holders and stakers are awarded. Since $USDM users earn without leaving the ecosystem, the positive externality issue is resolved. Also, the value generated here incentivizes the holding of $XMS which in turn stabilizes $USDM as the latter’s supply is based on the former’s market cap. Staking and Liquidity Provision September saw the launch of Mars Ecosystem liquidity farms and pools. Currently, the total locked value has crossed $250 million with the average APR being more than 1000% Already, eight pools have been created for users to stake their $XMS and earn BNB, ETH, CAKE, or more XMS as per their preference. Alongside, more than 10 yield farms have been set up for liquidity provision. 0.25% of the transaction fees on Mars Swap go directly to liquidity pools. Also, the team is introducing many liquidity pools and farms in unison with other projects in the BSC network. Venus Protocol, Kalata Protocol, ForTube, Helmet Insure are some of the projects they have partnered with in creating liquidity pools and farms. Apart from this, they have coupled sustainability with the growth of farms and pools using a linear vesting period. Simply put, the $XMS token allocated to investors (8%) and the team (10%) will be slowly released. This means, as per $XMS’s total supply, 180 million $XMS will be released for periods of 18 (investors) and 36 (team) months. The vesting period will start from our genesis launch which will be held in a month. Future of Mars Ecosystem Community-first is how the Mars Ecosystem team is approaching the future. Special emphasis will be placed on the direction that their community wants to take, in unison with their roadmap that includes launching more DeFi protocols and incubating nascent projects. Everyone holding $XMS tokens can participate in MarsDAO and contribute to the evolution of the Mars Ecosystem. Also, they will be opening their NFT collection to the community to purchase alongside a few airdrops for lucky winners. The Boarding Pass NFT and the Captain NFT have been designed to reward those who have contributed to the initial MarsDAO community. They believe that ‘To the Mars’ will be the new ‘to the moon’ in the crypto and DeFi community. But, in place of the volatility, we will see if the stablecoin $USDM will grow into being the reserve currency of the DeFi world.   Image by WikiImages from Pixabay

  • Shabangrs: Revolutionizing the Photography Space with NFTs

    A few years ago, if someone asked you the monetary value of an internet meme or Jack Dorsey’s first tweet, you’d have found it strange. After all, what value can a mundane tweet or a meme hold? But today, they can be worth thousands of dollars, thanks to non-fungible tokens, a.k.a. NFTs. By creating on-chain, unique representations of everyday things like music, art, videos, and memes, NFTs catapulted their value from almost nothing to millions of dollars. So naturally, the trend spread like wildfire, opening new opportunities for artists and creative professionals across the globe to gain recognition like never before. Artists can now claim ownership of their work and make a sustainable living through NFTs. From their supporters’ point of view, they get exclusive access to their favorite artist’s work in the form of NFTs. As the NFT world keeps evolving to different dimensions, we see the launch of new NFT projects every single day. But one novel project that has the potential to make a mark of its own in the NFT space is Shabangrs. For Photographers by Photographers When compared to a regular NFT project, Shabangrs has quite the unique approach to NFTs. For starters, it is a photography-inspired collection of 10,000 NFTs created in honor of photographers from across the globe. While artists and creators have long been recognized in the NFT space, photographers and their art are still on the back burner, and now, Shabangrs aims to change that. But that’s not all. Alongside being a futuristic NFT project, Shabangrs is also building a photography metaverse called Shabangrsville. This ambitious project was envisioned by the renowned photographer Peter Hurley who realized that the next step in the evolution of photography was going to be on the blockchain via NFTs. And Shabangrs is the first step in that direction. The vibrant collection of 10,000 photography-inspired NFTs brings the best of photography onto a single platform. Not just photographers but anyone even remotely interested in photography would be able to find and own a uniquely curated piece of art. Everyone who owns an NFT on this platform is automatically considered to be a citizen of Shabangrsville, giving them access to the best photographers, creatives, and resources in the world. Apart from this, these NFTs are dynamic in nature and come with exclusive lifetime perks that the NFT owners can claim. These perks include special offers, giveaways, access to official merchandise, and headshot crew memberships. Users have the choice to choose whether or not they want to claim the perk, where claiming the perk reduces the rarity. In turn, the value of the NFT also decreases, but the perks are worth the trade-off. However, if the user chooses not to claim the perk, the value of the NFT and its rarity are retained and can be sold on NFT marketplaces. The cherry on the cake is that a percentage of all NFT sales will be directed towards a charity that teaches photography to refugee children. An NFT project like this could be truly revolutionary for the photography space, recognizing the work of photographers and giving a platform for them to truly shine. The project has a robust roadmap in place to ensure speedy development and distribution of perks. When 25% of the NFTs are sold, Shabangrs will donate $5000 to the United Nations Association of Tampa Bay’s Picture My Life annual program. And when the sales hit 50%, $10K will be donated to the same program. Along with this, Rarity tools listing, OpenSea verification, and the grand opening of Shabangrsville are planned for the near future. Unleashing the NFT Power Within just a couple of years, NFTs went from being a hidden part of blockchain technology to taking the center stage in decentralized operations. These digital diamonds have laid the path for the transformation of the art, music, films, and the creative world as a whole with revolutionary use-cases. Now, as Shanbangrs unleashes the power of NFTs in the world of photography, the revolution that photographers hoped for could unfold, taking the value of their art to the moon.

  • Analytics Firm Glassnode Tracks Investor Behavior As Bitcoin Shatters All-Time High

    Crypto insights firm Glassnode is keeping a close eye on Bitcoin investor behavior as the largest crypto asset smashes through its all-time high, reaching $66,813 according to CoinGecko. In a new edition of its weekly newsletter, Glassnode says it is looking at the activities of long-term Bitcoin holders – entities that have kept their BTC The post Analytics Firm Glassnode Tracks Investor Behavior As Bitcoin Shatters All-Time High appeared first on The Daily Hodl.

  • Crypto Wealth Protection in Spotlight Amid Surging Institutional Demand

    Asset managers, hedge funds, and high net-worth individuals (HNWIs) have been dipping their toes in cryptocurrencies. DeVere Group CEO Nigel Green recently said that there is a “growing retail and institutional demand for cryptocurrencies because it is becoming increasingly clear that the shift towards borderless, global digital currencies is inevitable.” Convenience and security With institutional investors flocking to own digital assets, security measures have come into the spotlight. Though the blockchain itself is highly secure, hackers frequently manage to steal funds by exploiting human errors, blind spots, and other weaknesses. Institutions are extra cautious with their assets because the stakes for them are much higher than for an average Joe. When it comes to the custody of their crypto assets, users have a wide variety of options to choose from. Hot wallets such as desktop wallets, online wallets, and mobile wallets are always connected to the Internet. They are convenient, but highly risky because they are an easy target for hackers. Cold wallets such as the Trezor and the Ledger Nano X are much more secure. They are not always connected to the Internet. You have to connect them to the Internet when it’s time to execute transactions, which is when the attackers could target your wallet. Also, it’s not uncommon for hardware wallets to get stolen, suffer from software issues, or deteriorate over time. From wallets to vaults Institutional investors prefer to keep the cryptocurrencies they don’t need for immediate use in vaults rather than wallets. Vaults bring additional security layers and require multiple approvals to make withdrawals, which makes them more suitable for high-balance accounts and long-term storage. Third-party crypto custodians are combining innovations in cryptography and digital security with physical security and regulatory compliance to woo institutions. Spain-based security firm Prosegur has launched its crypto custody arm to bring high-security vaults for digital assets. Prosegur secures about $400 billion worth of cash, gold, jewelry, and physical assets. Its vault, named Crypto Bunker, uses the Israeli cybersecurity firm GK8’s patented cryptography that eliminates the need to be online while executing transactions. With Crypto Bunker, institutions can create, sign, and send blockchain transactions through a unidirectional connection. However, even highly secure vaults are vulnerable to human errors and physical tampering. Prosegur claims that it uses its decades-long experience in physical security to prevent physical extortion and robbery, both by insiders and outsiders. Prosegur Crypto CEO Raimundo Castilla said, “The combination of bank-level physical security and new generation cold storage technology means that Prosegur Crypto is the safest place to store crypto assets for institutions, businesses, and any other entity requiring secure cold storage.” As institutional interest in cryptocurrencies balloons, the custodial services, as well as crypto exchanges, must address users’ concerns about safety and fraud prevention. Ben Caselin, Head of Research & Strategy at AAX, said in a statement to NewsBTC, “As the market for digital assets continues to grow in both size and sophistication, the need for institutional-grade custody solutions has become more pressing. Regulated crypto custodians have the technical know-how to safely handle digital assets for their clients and are able to meet complex regulatory requirements around risk-management, reporting and transparency.” Caselin believes that custodians could also facilitate communication between regulators and participants in crypto. Citing the example of Asian digital asset custodian Hex Trust, he said, “In the Asia region, we have Hex Trust which is licensed in Singapore and aims to connect the digital asset ecosystem to traditional finance. They work with family offices, other funds, but also entrepreneurs and blockchain projects. In that sense, custodians can also play a key role in raising the profile of crypto projects in terms of trust and transparency.” Speaking at the SALT Conference in New York, Brett Tejpaul, the head of institutional sales at Coinbase, said, “It’s up to the crypto custodians to promote that they can provide the same types of institutional infrastructure to custody crypto that are there for any other asset classes.” Wrapping it up The emergence of high-security crypto custody solutions is a major step in making the ecosystem safer than ever before. While hot wallets offer convenience and cold wallets are good enough for most small investors, institutional investors need added layers of security. The entry of giants like Prosegur, which focuses on both digital as well as physical security, could shake things up.

  • SEC Requests Court To Extend Discovery Phase of Lawsuit With Ripple for Two Months

    The U.S. Securities and Exchange Commission (SEC) is requesting that the court extend the discovery phase of its lawsuit against Ripple Labs by an additional two months, according to new case documents. The discovery phase is a pre-trial stage of a lawsuit where both parties present relevant information and evidence. The SEC wants to extend The post SEC Requests Court To Extend Discovery Phase of Lawsuit With Ripple for Two Months appeared first on The Daily Hodl.

  • Ethereum Breaks $4,000, All-Time High Unavoidable?

    The Ethereum rally continues and seems to be moving into FOMO levels. At press time, the second crypto by market cap has blasted through the major resistance at $4,000 and moves fast into price discovery. Related Reading | Ethereum Looks Set To Explode As 400,000 ETH Exits Coinbase Ethereum records 4% and 14% in the daily and weekly charts, respectively. The euphoria in the market seems to be driven by the launch of a Bitcoin-linked ETF in the U.S. The market has positively responded to this event and has allowed Ethereum and Bitcoin’s price to surge with a spike in institutional demand, as several experts have pointed out. Unlike some predictions, the ETF event doesn’t seem to be operating as a “Buy the rumor, sell the news” or a trigger for another capitulation event. In lower timeframes, Ethereum must hold above current levels to turn $4,000 into support and allow the rally to follow through in case of potential downside risk. As pointed out by pseudonym analyst John Wick, Ethereum entered a “volatility squeeze shading” with a bullish trend, as indicated in the image below. The analyst added: Squeeze shadings precede violent moves that are often the start of new trends. Green bars say probability to the upside! In that sense, losing the $3,000 area could signal a potential trend reversal to the downside. However, the second cryptocurrency by market cap could make a 5x profit from here. Related Reading | Ethereum Supply Shock Grows As Reserves Decrease, ETH 2.0 Contract Increases Ethereum ETF On The Way, Bulls With More Ammo In-Store Analyst Justin Bennett believes the key for more upside actions relies on Bitcoin. If the benchmark crypto can continue its upwards trend uninterrupted, Ethereum could follow right into its May trend line, as the analyst claimed. This could send Ethereum as high as $20,000 for 2022. In support of this theory, QCP Capital recorded an increase in ETH-based options with $10,000 to $50,000 strikes to be expired by March 2022 on the rise. Related Reading | TA: Ethereum Breaking This Barrier Could Spark a Significant Surge With the launch of the Bitcoin ETF, QCP Capital noted the following on the future of Ethereum: As we mentioned in our previous post on ETFs, long-term attention seems to be shifting from BTC to ETH with potential ETH ETF release after BTC, coupled with ETH V2 catalyst.

  • Bitcoin Price Sets New All-Time High Above $65,000

    Bitcoin price has done it and made a higher high, setting a new all-time high record above $65,000 according to several exchanges and the TradingView BTCUSD Index. What exactly does this mean for the first-ever cryptocurrency and the current market cycle? Read on to find out. Bitcoin Price Sets New Record ATH Above $65,000 The number one ranked cryptocurrency by market cap has just set another major milestone, and proven to the market that the bull cycle isn’t yet finished. It also means that the April 2021 “top” was nothing more than a mid-cycle pullback before the coin reached its final destination target closer to $100,000 or higher. Related Reading | Bitcoin “Supertrend” Begins As Buy Signals Stack On All Major Timeframes Targets for the cryptocurrency reach as high as several hundred thousands per coin at the conclusion of this cycle. Future estimates have reached as much as $10 million per BTC based on the stock-to-flow model. The recent Bitcoin ETF approval ended any second guessing or speculation over whether or not the bull market had ended, or if a bear market had began. Bear markets don’t have dead cat bounces that lead to new all-time highs. The higher high also keeps the uptrend in tact by the pure definition of the term. There you have it, folks: A new all-time high is set. Where does it end? | Source: BTCUSD on BTC Back In Price Discovery, What Happens Next? Technicals have suggested this push higher was coming. The monthly Bitcoin RSI is back in the bull zone, and most other technical indicators are leaning bullish on high timeframes. What has thrown many market participants off, has been an overheated technical picture on the daily that is heavily dominated by the higher timeframe signals. Related Reading | Bitcoin Price Prepares To Blast Off Back Into RSI “Bull Zone” With no resistance above, the market will be less likely to sell or go short, because there is no telling how high Bitcoin price could go from here. Each successive peak will cause the same wide-sweeping question if the top is in, until it is. This could make for a final leg up that moves faster than most are expecting, with very few or limited pullbacks to buy in. What’s worse, is that the final leg of a bull run usually does mean a bear market is coming, and is due to arrive the moment the actual peak is in. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from

  • Bitcoin Futures ETF Becomes Second-Biggest Launch of All Time With Nearly $1,000,000,000 Worth of Volume on First Day

    ProShares’ Bitcoin futures exchange-traded fund (ETF) is exploding onto the market with the second-biggest ETF launch of all time. Eric Balchunas, a senior ETF analyst at Bloomberg, says on Twitter that the ProShares Bitcoin Strategy ETF (BITO) had more than $993 million in total trading volume on its first day of availability. Balchunas says that The post Bitcoin Futures ETF Becomes Second-Biggest Launch of All Time With Nearly $1,000,000,000 Worth of Volume on First Day appeared first on The Daily Hodl.