Home Blog Page 30

Ether booms past $4,000, other cryptos firm

    By
    underratedcrypto
    -
    0

    Cryptocurrency ether broke past $4,000 on Monday, climbing to a new peak for a third session in a row on bets it may find new uses, lifting other digital currencies in its wake.

    Bitcoin hit a three-week high and one-time parody currency dogecoin steadied, arresting a sharp drop after comments from Tesla chief Elon Musk sent it tumbling on Sunday.

    Ether, traded using the ethereum blockchain, was last up around 6% for the day on the Binance exchange where it hit $4,119 around midday in Asia. Bitcoin rose to $59,603 and dogecoin steadied around $0.54.

    Bitcoin has doubled, ether has soared more than fivefold this year and dogecoin more than a hundredfold as a euphoric mood has spilled over from bitcoin into other crypto assets.

    “I think (crypto has) got a lot more institutional involvement than people who haven’t followed the market believe,” said Chris Weston, head of research at brokerage Pepperstone, pointing to sizeable weekend liquidity.

    “And everyone’s been in ethereum. It’s not a meme joke coin, it actually has some application use,” he added, referring to its role in the rise of non-bank facilitated transactions.

    The ethereum blockchain has been recently upgraded, which traders think might make it a central player in a trend called “DeFi” or decentralised finance, where digital platforms chip away at banks’ dominance of financial transactions.

    The sum of ether tokens in circulation is $477 billion according to CoinMarketCap, compared with $1.1 trillion for bitcoin and $69 billion for dogecoin.

    Trade in dogecoin, launched as a joke currency with a dog mascot, has concerned analysts as it is mostly impossible to spend and gains are being driven by a speculative frenzy.

    It fell by a third in Sunday trade after Musk, a crypto investor, described it as a “hustle” during a television appearance, but it seemed to find support after he tweeted that his SpaceX rocket company would accept it as payment.

    “You really couldn’t make this stuff up,” Rabobank senior macro strategist Michael Every wrote in a note to clients.

    “This is not so amusing for an SEC already flagging it will act on crypto, and watching Saturday trading…forget about space: this is a dog eat Doge world in the end.”

    Source: Reuters

    Alibaba’s ant group to allow online bank MYBank test China’s CBDC Digital Yuan

      By
      underratedcrypto
      -
      0

      Is NFL Star Tom Brady loading up bitcoins?

        By
        underratedcrypto
        -
        0

        Over the last few months, celebrities have been warming up to Bitcoin (BTC) and the recent rumor in the town is that American Football sensation Tom Brady is stacking up BTC in his wallet. Blockworks co-founder Jason Yanowitz was the first to tweet about the same.

        Referring to Tom Brady as the GOAT, Jason asked his followers on Twitter to retweet for Brady to turn ‘laser red eyes’, an investor’s sign of their support to Bitcoin (BTC). Brady sparked further speculation by asking his 1.9 million Twitter followers whether he should really turn laser eyes.

        Brady’s tossing up the speculation has driven the massive attention of some of the biggest market players. Bitcoin (BTC) evangelist and investor A. Pompliano tweeted: The internet will break if @TomBrady tweets “Pay me in bitcoin”. In the recent past, several celebrity figures have extended their support for Bitcoin (BTC).

        NFL Star Russell Okung Extends Support to Tom Brady
        Russell Okung, the NFL Star from Carolina Panthers was among the first to accept half of his salary in Bitcoin. Okung became the first major player in any U.S. sports league to be played in Bitcoin last year. The legend asked to be paid half of his $13-million salary in Bitcoin to which the Panthers had obliged.

        Since the request was accepted last December 2020, when BTC was trading around $28,000, Okung has already made a massive 100% gains as of the current BTC price. In his recent tweet extending support to Tom Brady, Okung tweets:

        After consolidating at $55,000 over the last month, Bitcoin (BTC) is once again showing momentum. Today, the BTC price is trading above its crucial resistance of $59,000 with its market cap crossing $1.1 trillion. After a month of selling, Bitcoin addresses holding between 100 to 10,000 Bitcoins have reversed the trend and started accumulating once again, reported on-chain data provider Santiment.

        Source: CoinGape

        Rari Capital losses $11m in the latest DeFi exploit

          By
          underratedcrypto
          -
          0

          Rari Capital has become the latest decentralized finance (DeFi) project to suffer an attack, losing $11 million.

          Rari Capital suffers $11m loss in a high-profile exploit

          Decentralized financial platform Rari Capital has revealed that it suffered a high-profile exploit, losing an enormous amount. Rari Capital has now become the latest DeFi project to suffer from hackers.

          The DeFi platform revealed this in a tweet yesterday, stating that “There has been an exploit in the Rari Capital ETH Pool related to our @AlphaFinanceLab integration. The rebalance has removed all funds from Alpha in response. We are currently investigating the situation, and a full report will be shared once we assess everything.”

          Rari Capital is a DeFi platform builds optimized yield vaults and boutique lending pools. The exploit is an “evil contract,” a hack designed to trick a contract into thinking a hostile contract should be granted access or permissions.

          According to Alpha Finance, the hack was related to Rari Capital’s interest-bearing ibETH vault. However, Alpha’s funds were safe following the attack. “Funds are SAFE on #AlphaHomora. We are notified that @RariCapital has suffered from an exploit that was because of the incorrect assumption when using HomoraBank contract, as they were setting up an ibETH pool on their platform. #Alpha team is here to help,” the Alpha team tweeted.

          Following the attack, the hacker’s wallet held over 4,005 ETH worth over $15,000,000. However, the attacker has withdrawn most of the funds, and the wallet currently holds less than 1 ETH.

          Crypto platforms still suffer from occasional hacks

          Cryptocurrency platforms have lost billions of dollars to hackers over the past decade. Rari Capital’s attack shows that security should remain a priority for cryptocurrency-focused platforms, both centralized and decentralized ones.

          Most platforms have compensated users who lost their funds in an attack. However, the Rari Capital team is yet to reveal its plans for the lost funds. RGT, Rari’s governance token, dipped by nearly 20% since the attack and is currently trading close to $15.

          Source: Cryptonary

          Asian auction house Phillips will accept crypto at auction for a physical piece of banksy art

            By
            underratedcrypto
            -
            0

            The well-known Phillips Auction House has announced the company plans to accept cryptocurrency for the first time in a physical art auction set for June 7-8. Phillips will auction a world-famous piece of artwork called the “Laugh Now Panel” created by the anonymous street artist Banksy.

            ‘Laugh Now’- Phillips to Accept Cryptocurrency at a Banksy Auction in June

            Whether Banksy likes it or not, his artwork has been tied to blockchain technology and sold for crypto assets in recent times. Additionally, the infamous street artist’s work was even burned after it was transferred into a non-fungible token asset. The NFT sold for more money in an auction than the physical piece itself. Phillips Auction House has decided to accept cryptocurrency for the first time during a Banksy auction on May 7-8.

            Phillips’ entry into the crypto space is a bit behind, in comparison to world-renowned auction houses Christie’s and Sotheby’s. In fact, Sotheby’s announced last week it was auctioning a physical piece of artwork created by the notorious Banksy.

            Sotheby’s detailed on Tuesday that it would leverage the exchange Coinbase in order to sell Banksy’s “Love is in the Air” image. The “Love is in the Air” print has an estimated worth of around $3-5 million. The Banksy possessed by Phillips is the street artist’s famous print called the “Laugh Now Panel.”

            Banksy’s art “Laugh Now” contains a picture of a monkey in the artist’s signature monochrome stenciled style. The monkey is wearing a sandwich board around his neck and it says: “Laugh now, but one day we’ll be in charge.”

            According to Phillips, the “Laugh Now Panel” created by Banksy has an estimated worth of around $2.8 to $4.1 million. The art panel is also on tour right now in Beijing, Shanghai, Shenzhen, Taipei, Taichung, and Hong Kong ahead of the June auction.

            The First Major Auction House in Asia Accepting Bitcoin and Ether

            “This marks the first time a major auction house in Asia will accept Bitcoin or Ether as a payment option for a physical work of art,” Phillips announcement says. Banksy has been a disruptor in the art world with his distinctive oeuvre characterized by dark humor, satire, and political commentary,” the company’s announcement stresses.

            Phillips further says:

            Many of Banksy’s iconic original murals were transformed into canvas and editioned prints by the artist, allowing for the dissemination of his mischievous and satirical messages to wider audiences. By offering participants this new payment option to gain Laugh Now Panel A, Phillips connects Banksy’s bold creations with tech-savvy collectors eager to quickly adapt to new technological advances.

            The Banksy auction follows Phillips getting into the non-fungible token art space when it sold Mad Dog Jones’ multi-generational NFT, REPLICATOR for over $4 million. Like Sotheby’s, the Asian auction house Phillips will leverage Coinbase as well to conduct the crypto transaction settlement.

            The auction of “Laugh Now” will be conducted in Hong Kong dollars, and then the buyer will be able to choose to pay via the crypto exchange’s payment service.

            Source: news.bitcoin.com

            Ebay opens the doors to accepting cryptocurrencies in the future, exploring NFTs

              By
              underratedcrypto
              -
              0

              eBay Inc (EBAY. O) is open to the possibility of accepting cryptocurrency as payment in the future and is looking at ways to get non-fungible tokens (NFTs) on its platform, the company said on Monday.

              A growing number of companies have accepted virtual currencies as payment, taking an asset class that had been shunned by major financial institutions a few years ago, a step closer to becoming mainstream.

              Tesla Inc (TSLA. O) is already accepting bitcoin as payment for its electric cars, while payments giant PayPal (PYPL. O) last year started allowing customers to buy, sell and hold cryptocurrencies using its online wallets. read more

              “We are always looking at the most relevant forms of payment and will continue to assess that from now on. We have no immediate plans, but it (cryptocurrency) is something we are monitoring,” eBay said in a statement to Reuters.

              In an interview with CNBC, Chief Executive Officer Jamie Iannone said that accepting virtual currency was an option the company was looking at.

              eBay, which disappointed investors with a weak second-quarter profit forecast last week, said it was looking at a “number of ways” to get into the NFT space. read more

              NFTs, a type of digital asset that exists on a blockchain, has exploded in popularity this year, with NFT artworks selling for millions of dollars and musicians such as the Kings of Leon rock group embracing them for their latest album. Read more.

              “We’re exploring opportunities on how we can enable it (NFTs) on eBay easily,” Iannone said on CNBC.

              “Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades.”

              (This story refiles to correct CEO name in paragraphs 5 and 8 to Iannone; Corrects typographical errors in paragraphs 1, 3 and 4.)

              “Everything that’s collectible has been on eBay for decades and will continue to be for the next few decades.”

              Source: Reuters

              Elon Musk’s SpaceX accepts dogecoin as a payment for sending a satellite to the moon

                By
                underratedcrypto
                -
                0

                While it’s still anyone’s guess whether the price of dogecoin (DOGE, -13.14%) is heading to the moon, a Canadian-based company is using the Shiba Inu-represented cryptocurrency to pay SpaceX to take a satellite there.

                Calling it the first-ever commercial lunar payload in history paid entirely with dogecoin, Geometric Energy Corp. said the DOGE-1 Mission to the Moon will launch aboard a SpaceX Falcon 9 rocket in Q1 2022.

                “This mission will show the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” SpaceX Vice President of Commercial Sales, Tom Ochinero said in the release. “We’re excited to launch DOGE-1 to the Moon!”

                The payload will get lunar-spatial intelligence from sensors and cameras on-board using communications and computational systems, GSC said in the statement.

                SpaceX is helmed by billionaire Elon Musk, the most well-known advocate for dogecoin, a meme-based cryptocurrency started as a joke in 2013. Propelled by Musk’s tweets, the price of doge coin has risen over 11,000% year to date. As a result, dogecoin has seen increased adoption and use cases, including now payment for a trip to the moon.

                Source: CoinDesk

                Y combinator backed globe announces balancer LBP for their upcoming platform token

                  By
                  underratedcrypto
                  -
                  0

                  Globe is excited to announce the upcoming Balancer Liquidity Bootstrapping Pool for GDT tomorrow, May 10, 2021. Following the successful triple IDO and IEO, it is essential to bring the token to as many users as possible. As part of Globe’s commitment and reputation for fairness, an LBP event on Balancer allows for fair price discovery, opportunity to take part and fair distribution of the GDT supply.

                  The Balancer Liquidity Bootstrapping Pool event is an excellent way to buy GDT at preferred prices. As an ERC20 utility token, GDT provides discounts on trading fees and also naturally decentralizes long term ownership of the token away from Globe and to its community via buy & burn so that every trade uses some GDT as fuel. In a future version, users can pay their trading fees with the token.

                  As Balancer is a well-respected name in the cryptocurrency industry, it provides an excellent outlet to bring GDT to a broader audience. Balancer has a strong reputation for facilitating LBP events and strong token performance. As Globe wants to prioritize fairness and transparency, fair price discovery is essential for new and upcoming tokens.

                  The Balancer LBP event will take place after Globe has successfully completed its triple IDO on Ignition, Superfarm, and DODO. The team also completed an Initial Exchange Offering–IEO–on Gate.io earlier with nearly $30m of interest in just 4 hours. These token sales contribute to the fair distribution of the GDT token and provide people with multiple options to gain Globe’s utility token.

                  GDT Will make its way to exchanges come May 12, 2021. More information on exchange listings will be announced via Globe’s official social media channels in the coming days.

                  About Globe

                  The Globe’s fairest & fastest derivatives crypto exchange backed by Y Combinator alumni. Trade BTC, ETH, and DeFi Tokens with more leverage via perpetual futures contracts.

                  Decentralized storage project ColdStack becomes first IDO on SuperStarter launchpad

                    By
                    underratedcrypto
                    -
                    0

                    Tallinn, Estonia, 9th May, 2021,

                    SuperStarter, the curated token launchpad recently inaugurated by SuperFarm, announced the first project to hold an Initial DEX Offering (IDO), which will be ColdStack, an up-and-coming decentralized storage project that promises to drastically lower storage costs compared to even centralized competitors.

                    Registration for the IDO whitelist opened on May 4th, at 8 PM UTC, and closed on May 6th at the same time. The token distribution event will occur on May 10 at [time]. To join the CLS token IDO, prospective buyers must register to the whitelist through a dedicated form.

                    The CLS token is the native token for ColdStack, used for paying platform fees when storing data. The fees are paid by users who store and retrieve their data, and can be awarded to miners who run ColdStack Nodes and store the data. Besides storage requests, CLS will be required to sign and allow transactions on ColdStack, as well as pay for NFT issuance and other related operations. The CLS token will also entitle holders to take part in the DAO, letting them take part in platform governance, including admitting new nodes to the network and handling disputes.

                    The CLS token will be launched with an initial market capitalization of $737,500 with 1,475,000 CLS circulating supply. Private and Strategic investors receive a further 10% allocation each, with a one month cliff and a nine months linear vesting. Team tokens are locked for 12 months and subject to a linear release schedule in the next 12 months. Tokens in the public sale are fully unlocked, while the rest of the 50 million CLS supply will be distributed to the community through liquidity mining and to the DAO ecosystem fund.

                    “We are excited to be bringing the first project to SuperStarter, our new platform for listing tier-one IDOs,” said Elliot Wainmann, Founder of SuperFarm. “Just as we promised, we focused on quality over quantity and expect ColdStack to become the aggregator for all decentralized storage platforms, with enormous potential to surpass all existing solutions on the market.”

                    SuperFarm published an in-depth research into ColdStack, which served as the basis for deciding to list the project. ColdStack is an aggregator of all existing decentralized storage networks under one dApp, enabling seamless access to the storage potential of Web3. Live on Polkadot’s ChaChaCha parachain testnet, ColdStack is poised to go live on mainnet together with the rest of the Polkadot parachain network. Several prominent investors backed ColdStack in its bid to aggregate Web3 storage, including GBV, Spark Capital, Black Edge Capital, AU21 and many more.

                    “The IDO marks the beginning of an exciting new era for ColdStack, and we are proud to be making the debut on SuperStarter,” said Alexander Shishow, CEO of ColdStack. “With the backing of our investment partners and — — the community, we are ready to revolutionize decentralized storage.”

                    About SuperFarm

                    SuperFarm is a cross-chain DeFi protocol designed to bring utility to any token by turning it into an NFT farm with no code required. SuperFarm provides a bridge between current crypto ecosystems and the explosive gaming industry. NFTs from SuperFarm and Official Partner Farms will gain utility within real AAA video games. In this ecosystem, NFTs are no longer just pixels on a screen, but hold power to unlock unique digital experiences.

                    About ColdStack

                    ColdStack is a Decentralized Cloud Aggregator: it is the world’s first service that aggregates Decentralized Data Storages such as Filecoin. By optimizing storage solutions with its AI-based pipeline, ColdStack provides users with the most cost-efficient and secure way to store their files. ColdStack features a unified Amazon S3 compatible API which allows users to easily access decentralized storage solutions. ColdStack focuses on providing bulk storage for data which is not accessed regularly, but is still required to be stored perpetually. Our tokenization system also allows users to easily create and store their own NFTs, and use these assets on any NFT marketplace.

                    Canada’s exchange traded fund has accumulated over 31K Ethereum in this mega bull run

                      By
                      underratedcrypto
                      -
                      0

                      Amid massive institutional interest, the crypto ETFs in the Canadian market is buzzing with massive investments. Well, thanks to the prudent regulatory approach of this North American country. Having tasted the success with its Bitcoin ETF earlier this year, Purpose Investments is making massive accumulation in the Ether ETF.

                      Having launched its Ether ETF just three weeks back on April 20, Purpose has been on a massive ETH accumulation spree. As per popular crypto Twitter handle Bloqport, purpose has accumulated over 31,000 ETH coins just in the last 20 days.

                      If we look at the monthly ETH chart, the ETH price rally has been phenomenal since April 20. As we can see, ETH was trading around $2100 levels on April 20. Earlier today, ETH touched its new all-time high of $3975, meaning a massive 90% return in just the last 20 days since the launch of Purpose Ether ETF.

                      Apart from Purpose Investments, Ether ETFs develop Funds and CI Galaxy digital have been listed on the Toronto Stock Exchange (TSX) and live over the last 20 days. All these three are physically backed Ether ETF investing directly into physical ETH coins. Here’s what each of these ETFs have been up to.

                      Develop Ether ETF $ETHR: $32.29 Million

                      Purpose Ether ETF $ETHH: $135.1 Million

                      CI Galaxy Ethereum $ETHX: $293.9 Million

                      Seeing the success in the Candian market, American financial giants have also jumped into the game. Just a day before, CoinGape reported that asset management giant VanEck has filed for the first U.S. Ether ETF.

                      The rising institutional demand for Ethereum (ETF)

                      Looking at the response this Ether derivative products have received, institutional players are already big-time into this game. We at CoinGape reported several such incidences of Ethereum institutional buying over the last few days.

                      During the recent Ethereum price rally, the Coinbase Premium has also surged significantly, suggest institutional buying.

                      Massive Ethereum outflows from exchanges in recent times suggest higher institutional accumulation.

                      Investmentment giants are lining up for Ethereum-based derivative products. Two weeks back, the CI Global asset management launched the world’s first Ethereum Mutual Fund–CI Ethereum Fund.

                      At press time, Ethereum (ETH) is trading at 8% up at $3845 with a market cap of $443 billion. The immediate price target for Ethereum (ETH) looks to be $4000.

                      1...293031...35Page 30 of 35
                      MicroStrategy’s Bitcoin holdings close to $3 billion after buying $177m worth of bitcoins
                      Uncategorized

                      MicroStrategy’s Bitcoin holdings close to $3 billion after buying $177m worth...

                      underratedcrypto - 0
                      MicroStrategy is one of the largest corporate holders of Bitcoin, and the company has now added more bitcoins to its balance sheet. MicroStrategy purchases $177...
                      Bitcoin bulls aim for $50K ahead of Friday’s $675M BTC options expiry

                      Bitcoin bulls aim for $50K ahead of Friday’s $675M BTC options...

                      Binance ends South Korean Won trading pairs and payment options

                      Binance ends South Korean Won trading pairs and payment options

                      Kryptoin files for an Ether ETF with the US SEC

                      Kryptoin files for an Ether ETF with the US SEC

                      This is why SushiSwap did not scale on Optimism

                      2022 | © Underratedcrypto