roadrunner

Solana, a top ten smart contracts-enabled cryptocurrency by market cap, has acknowledged it is facing a series of problems hindering the performance of its network. The official account of the status of the network, as well as the status page, reported this incident yesterday. This is the latest issue Solana is facing after experiencing several network disruptions during the past months. Solana Facing Throughput Issues Solana, a smart contracts-enabled cryptocurrency, has formally acknowledged its network is suffering performance issues affecting the throughput of the system and causing it to drop certain transactions. The report was issued by the Solana Status Twitter account of the project, which informed users of the situation yesterday. The account explained: [The network is experiencing] degraded performance due to an increase in high compute transactions, which is reducing network capacity to several thousand transactions per second. This is leading to increased loading and transaction processing times, and some failed transactions. This report was posted on January 6, 16:11 UTC and at the time of writing, the issue has not yet been solved. It was also reported that the developers were working to address these issues and solve the problem. Woes Aplenty This is not the first time that the network has faced this kind of issue. The first incident of this kind — that affected the block production of the Solana validators — happened on September 14, when the Solana blockchain slowed almost to a crawl due to a resource exhaustion problem, according to the Solana Status account The blockchain then faced another problem on December 4, when the whole network was stopped, and engineers had to restart it for it to work appropriately again. At that time, the network was halted for approximately 5 hours, with no transactions or blocks being issued during this period. The project has faced other kinds of issues with congestion due to the release of specific projects that have also crowded the network, as occurred on December 13 when the launch of a project called Solchicks affected the stability of the blockchain. Then again on January 4th, there were reports about Solana facing a DDoS attack via spam transactions. However, these reports were debunked by Anatoly Yakovenko, co-founder of Solana, who stated that “there was some congestion due to mismetered transitions, and some users experienced their txs timing out and had to retry.” However, even with all these problems, the total number of Solana transactions outpaced that of its rivals for December, registering 45 billion transactions. What do you think about Solana and the performance problems it’s been facing? Tell us in the comments section below. View the full article

A note from JPMorgan states that Ethereum might be at risk of losing defi dominance as a result of its inability to produce effective scaling solutions fast. The note, written by Nikolaos Panigirtzoglou, managing director of global markets strategy at the firm, further stated that other new smart contracts-enabled blockchains are the ones taking this market share, instead of Ethereum sidechains or other Ethereum-based solutions. Ethereum Dominance at Stake According to JPMorgan A note from JPMorgan states that Ethereum might keep losing dominance in the field of decentralized finance in the coming year. The note, written by Nikolaos Panigirtzoglou, managing director of global markets strategy at JPMorgan, states this dominance is at risk due to the problems Ethereum has had scaling its network. On this, the note stated that scaling: Which is necessary for the Ethereum network to maintain its dominance, might arrive too late. Ethereum has centered on an L2 (Layer 2)-centric roadmap, that supports the rise of rollups and sidechains to try and find alternatives to the intensive activity and high fees that are happening on its Layer 1 blockchain. Even with this strategy, the percentage of defi dominance, which was estimated at almost 100% at the start of last year, has dropped to an estimate of 70% of the market right now. The Rise of New Challengers Panigirtzoglou further explains that what’s more problematic is the fact that Ethereum has lost part of its influence in the defi arena to other chains, instead of to its own L2 scaling solutions. Solana, Avalanche, BSC, and Terra, a group of smart contracts-enabled cryptocurrencies and networks known as “ethereum killers,” have been gaining market share and creating a community behind them. This has also resulted in the price increase of their respective native tokens. While Ethereum managed to also increase the price of its network asset, ether (ETH), each one of the aforementioned tokens surpassed ETH’s performance last year. Sharding, which is the strategy Ethereum will use to scale in its L1 blockchain, won’t arrive until next year after the merge, which will change the proof-of-work (PoW) consensus to a more energy-friendly proof-of-stake (PoS) consensus. The note concluded: In other words, Ethereum is currently in an intense race to maintain its dominance in the application space with the outcome of that race far from given, in our opinion. What do you think about JPMorgan’s opinion on Ethereum and its possible future in defi? Tell us in the comments section below. View the full article

Rune Christensen, one of the founders of Maker, the decentralized autonomous organization behind the governance of stablecoin DAI, has spoken out against two competitors. He stated that UST, Terra’s dollar-pegged stablecoin, and MIM, another collateralized stablecoin, were “solid ponzis” and that the bear market would eventually lead their prices to zero. Maker Co-Founder Calls Out Competitors Rune Christensen, one of the co-founders of the organization behind the creation and development of DAI, a decentralized stablecoin, has called out two competitors. Christensen indicated that he got tired of being nagged by UST and MIM “reply guys” on Twitter, and indicated his opinion about these two relatively new stablecoins, comparing them with DAI. Christensen stated: Look, UST and MIM are solid ponzis and I respect that. You can make good money off them for sure. But they are not built for resilience and they are going to 0 once the market turns for real. Christensen elaborated by indicating that DAI was built for resilience while noting that the project is the most trustable when it comes to smart contracts and collateral security. However, UST flipped DAI as the most valuable stablecoin project back in December. Still, DAI is ranked second amongst decentralized stablecoin projects by market capitalization. Engineered Differently While MIM, UST, and DAI are all decentralized stablecoins in name, each one of them is engineered differently. While DAI and MIM are collateralized stablecoins — meaning that there are other assets backing their value in case of a selloff — UST is a pure algorithmic stablecoin, whose peg is maintained through arbitrage incentives. Criticism of these collateralized stablecoins has come from the fact that some of the funds backing the assets are composed of centralized stablecoins. In fact, according to a graphic provided by Christensen, 37.4% of DAI generated is collateralized with USDC. However, Christensen pointed out that MIM also had problems in this regard, hinting at the possibility of it having a higher percentage of its backing based on centralized stablecoins. The stablecoin sector grew massively last year, with USDT, the biggest stablecoin in the market, going from a $20 billion market cap at the start of 2020, to a near $80 billion capitalization starting in 2021. But decentralized alternatives grew even more, with UST multiplying its market cap by more than 50 times. In the same way, MIM has managed to reach a $4.6 billion capitalization since its inception last September. What do you think about the Maker co-founder’s statements on UST and DAI? Tell us in the comments section below. View the full article

U.K. police have revealed how much cryptocurrency they have seized in the past five years in response to Freedom of Information requests. The London Metropolitan Police seized more bitcoins than other police boroughs. UK Police Reveal Information About Seized Crypto Twelve of the U.K.’s 43 police forces have seized cryptocurrency worth approximately £322 million ($435 million) in criminal investigations in the last five years, New Scientist reported Thursday, citing Freedom of Information (FOI) requests it submitted. Bitcoin made up 99.9% of the cryptocurrencies seized in the U.K. However, Law enforcement also seized ethereum, monero, dash, and zcash, the publication conveyed. The police force that seized the most cryptocurrencies was the London Metropolitan Police, which seized £294 million in BTC. The Greater Manchester Police seized £25 million. Some police boroughs did not respond to the requests. Meanwhile, the U.S. tax authority, the Internal Revenue Service (IRS), revealed in November last year that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by the tax agency’s criminal investigation unit during the same time period. The agency expects to seize billions of dollars more in cryptocurrency this year. What do you think about the amount of bitcoin seized by U.K. police? Let us know in the comments section below. View the full article

Institutional investors are optimistic about the U.S. Securities and Exchange Commission (SEC) having more power to regulate the crypto market, a recent survey shows. They believe that if the SEC is granted extra powers, the prices of cryptocurrencies will be positively impacted. What Institutional Investors Think About Crypto Nickel Digital Asset Management, a regulated European digital asset hedge fund manager, recently released a report on the institutional adoption of crypto assets. The report includes a survey and interviews with 50 wealth managers and 50 institutional investors across the U.S., the U.K., Germany, France, and the United Arab Emirates (UAE). They collectively manage around $108.4 billion. The report explains that security concerns top the list of why institutional investors are skeptical about investing in crypto assets. According to the survey results, 79% of all respondents see asset custody as the key consideration for investing in the crypto space. The report further notes: This was followed by 67% who said price volatility, 56% who cited market cap, and 49% who said the regulatory environment. “Further 12% included the carbon footprint from Bitcoin and other cryptocurrencies in their top three reasons for not investing,” the report adds. Respondents were also asked about crypto regulation. SEC Chairman Gary Gensler has called on Congress to provide the SEC with more power to regulate crypto exchanges and activities such as trading and lending. The majority of respondents are optimistic about the prospect of the SEC being empowered with more authority to regulate crypto assets. Among them, 76% expect this will be granted this year. The report detailed: If the SEC is granted these extra powers, 73% of institutional investors and wealth managers believe this will have a positive impact on the price of crypto and digital assets and 32% believe it will have a very positive effect. Do you think the SEC should have more power to regulate the crypto space? Let us know in the comments section below. View the full article

According to the latest data from Chainalysis, the total cryptocurrency value received by illicit addresses grew to a new all-time high of $14 billion in 2021. Although the new all-time high is almost twice the $7.8 billion that was recorded in 2020, it represents just 0.15% of the 2021 cryptocurrency transaction volume. Percentage of Funds Sent to Illicit Addresses Falling The value of cryptocurrency-related crimes recorded in 2021 surged to a new all-time high of $14 billion, a figure that is almost double the $7.8 billion which was received by so-called illicit addresses in the year 2020. Nevertheless, this increase in the value of funds transferred to illicit addresses is still much lower than the average growth of the crypto economy, the latest Chainalysis data has shown. In a recent blog post breaking down the crypto economy’s 2021 transaction volume of $15.8 trillion, the blockchain analysis firm Chainalysis asserts that the growth in value of funds transferred to illicit addresses is not an indication that the space is now dominated by criminals. Rather, this growth may be a hint of just how far the crypto economy has expanded in 12 months. To illustrate, the blog post points to the 567% growth in crypto transaction volume which the analysis firm is linking to the rising adoption of cryptocurrencies. Chainalysis also offers its viewpoint on the growing gap between illicit activity volume and legitimate volume: In fact, with the growth of legitimate cryptocurrency usage far outpacing the growth of criminal usage, illicit activity’s share of cryptocurrency transaction volume has never been lower. Crypto Crime Impedes Adoption To support its position that illicit activity’s share of cryptocurrency transaction volume is on the wane, Chainalysis points to the data which shows that crime-related addresses only accounted for 0.15% of 2021 volumes. This figure is lower than the 0.62% recorded in 2020 and the 3.37% that was recorded in 2019. Despite noting the low proportion of criminal crypto transfers relative to the overall transaction volumes, Chainalysis still concedes the “criminal abuse of cryptocurrency creates huge impediments for continued adoption.” The post argues that such abuse often “heightens the likelihood of restrictions being imposed by governments, and worst of all victimizes innocent people around the world.” The blog post also suggested that law enforcement agencies are becoming more adept at combating cryptocurrency-based crimes. It cites the indictment of several crypto investment scams by the U.S. Commodity Futures Trading Commission (CFTC) as well as OFAC’s sanctioning of two Russia-based cryptocurrency platforms. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Ertha, one of the most highly-anticipated metaverse projects, recently launched it’s native ERTHA token to much success on Huobi Primelist. The play-to-earn game made huge progress in 2021 and is now poised to deliver a one-of-a-kind experience to fans of NFT gaming later this year. Thanks to the project’s meteoric rise, Ertha has attracted the attention of some of the biggest names in DeFi, bringing about high-profile investments and now, a valuable partnership with a team well renowned for its glowing reputation within the game development community. Ertha is partnering with Cryowar, a next-generation play-to-earn arena brawler powered by the Solana blockchain. The Cryowar team’s dedication to their craft and commitment to spotlighting NFT gaming combines the two teams’ shared values. The partnership will be exciting news for both sets of communities, as their exchange of ideas is sure to open up new avenues and perspectives, collectively pushing the boundaries of blockchain gaming. More About Cryowar Cryowar is an NFT-powered real-time multiplayer 1v1v1 arena brawler. Developed in Unreal Engine 4 for the Solana blockchain, the game’s closed beta has been released to excellent reviews. Players engage in fierce multi-realm battles in an expansive Medieval Sci-Fi metaverse playable on PC, Android, and iOS. The Cryowar team’s journey began during 2018’s Gamescom in Cologne, Germany. Four members of the development team were present to showcase an early build of their game to the show’s attendees. Gamescom is famous for drawing in gamers from across the world, and while pressure was high, the team’s demo impressed, setting the stage for a bright and prosperous future. Partnering with Industry Leaders Whilst an experienced team and strong fundamentals are crucial elements of any project’s success, so too are the partnerships formed along the way. Each is essential in generating the necessary exposure required to attract new players across the globe. The Cryowar teams’s success in this area has been proven through their partnerships with DeFi giants including, Mechanism Capital, GD10 Ventures, Polygon Studios, Animoca Brands, Kucoin Labs, and Alameda Research. Cross-Metaverse Promotions? Stay Tuned Ertha joins this list of prestigious partners at the opportune moment and fans should expect the collaboration to extend far beyond the exchange of ideas and concepts. There is also the exciting prospect of cross-metaverse NFTs adding extra excitement to the continued expansion of Ertha’s vast world map. Much to the delight of NFT gaming fans, Ertha has just completed its TGE debuting first on Huobi Primelist and then on PancakeSwap. It’s an exciting time for everyone associated with the project with 2022 shaping up to be a huge year for the game. To join one of the most welcoming and active communities in blockchain gaming, head over to Discord, or follow the project’s announcements on Twitter. Ertha’s Social Media Channels: Twitter : https://twitter.com/ErthaGame Discord : https://discord.gg/ertha Medium : https://erthium.medium.com/ YouTube : https://www.youtube.com/channel/UCHiXL-GSDqd9jIa1hsr20Kw Telegram : https://t.me/erthagame This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

On December 31, the software community founded in 1998, Mozilla, announced it was accepting crypto-asset donations via Bitpay. However, shortly after the announcement, a number of people complained about the decision the company made. A week later, Mozilla has announced it is backing away from digital currency acceptance for now and has “paused the ability to donate cryptocurrency.” Mozilla Revealed Crypto Acceptance Last Week and Quickly Backed Away After Backlash Last week, Mozilla, the current owners of the Gecko layout engine, the Thunderbird email client, and the Firefox web browser revealed it was accepting crypto donations via the payment processor Bitpay. “Dabble in dogecoin? HODLing some bitcoin [and] ethereum? We’re using Bitpay to accept donations in cryptocurrency,” Mozilla tweeted at the time. Mozilla co-founder Jamie Zawinski criticized Mozilla’s crypto acceptance decision immediately after the tweet. “Hi, I’m sure that whoever runs this account has no idea who I am, but I founded Mozilla and I’m here to say f*** you and f*** this,” Zawinski said. “Everyone involved in the project should be witheringly ashamed of this decision to partner with planet-incinerating Ponzi grifters.” Many others shamed Mozilla because of the crypto industry’s so-called effect on climate change. “Bitcoin is so bad for the environment,” Rich Burroughs replied to Mozilla’s tweet. “You might [want to] rethink this. Surely the planet is more important than a web browser.” April King, another former Mozilla developer and the security engineer at Dropbox, responded: Hey Mozilla. You probably don’t remember me, but I created the Mozilla Observatory, the Mozilla SSL Configuration Generator, revamped the Firefox certificate viewer, and kept Mozilla safe for a half-decade. I cannot begin to express how disappointed I am in this decision.” Mozilla Holds an ‘Important Discussion About Cryptocurrency’s Environmental Impact,’ Then Pauses Crypto Donation Acceptance It seems Mozilla did not appreciate the complaints and on January 6, 2022, the company responded to the criticism. “Last week, we tweeted a reminder that Mozilla accepts cryptocurrency donations. This led to an important discussion about cryptocurrency’s environmental impact. We’re listening, and taking action,” Mozilla said. The software company added: Decentralized web technology continues to be an important area for us to explore, but a lot has changed since we started accepting crypto donations. So, starting today we are reviewing if and how our current policy on crypto donations fits with our climate goals. And as we conduct our review, we will pause the ability to donate cryptocurrency. For quite some time now, crypto skeptics have been claiming digital assets like bitcoin are bad for the environment, specifically the proof-of-work (PoW) mining that is tied to the Bitcoin network. The environmental complaints are said to be unfounded by a number of crypto asset supporters that believe “bitcoin is one of the most environment-friendly financial networks.” In fact, many people believe governments and central banks should be blamed for hurting the environment. Crypto advocates stress that while energy concerns have increased during the last year, nobody discusses the carbon and military violence backing U.S. dollars. What do you think about Mozilla changing its decision to accept cryptocurrencies over the complaints the company received last week and so-called environmental concerns? Let us know what you think about this subject in the comments section below. View the full article

While bitcoin, non-fungible token (NFT) assets, ethereum, and cryptocurrencies had an incredible year in 2021, none of the trends made it into Google’s “Year in Search” review. Currently, interest in bitcoin, in terms of Google searches has dropped considerably since the week of May 16th through the 22nd of last year. Search trends for the term “bitcoin” have slid 72% since it scored the highest score of 100 last May to today’s score of 28. Worldwide Search Queries for ‘Bitcoin,’ ‘Ethereum,’ and ‘Cryptocurrency’ Continue to Slide Interest in bitcoin, NFTs, cryptocurrency and ethereum has waned according to Google search trends. Essentially, the web page Google Trends analyzes the popularity of top search queries worldwide and regionally and it scores specific terms and phrases by the number of searches. Last year, crypto-assets like BTC and ETH reached all-time price highs and interest increased a great deal during those specific time frames. Typically, when the price reaches new heights, Google Trends shows that queries worldwide increase and the opposite happens when the price sinks. Metrics show that the term “bitcoin” saw a high of 100 on the week of May 16th through the 22nd, 2021. The search query “bitcoin” was also high in January and February 2021, holding above 75 points. Today, the score is 72% lower than the stats recorded in May as the term “bitcoin” currently has a score of 28. The search query “ethereum” has a score of 8 today which is 68% lower than its highest 2021 score of 25 points. The term “cryptocurrency” has a score of 3 on January 7, 2022, but in May it reached a high of 12. Search Query ‘NFT’ Taps 100 This Week, Search Phrase ‘How to Sell Bitcoin’ Dips, While ‘How to Sell Ethereum’ Increases The shortened term for non-fungible token “NFT” has just peaked at 100 this week, according to Google Trends statistics on Friday. During the first week of January 2021, the search query “NFT” only had a score of 1. The search trend for “NFT” grew slowly during the first six months, but at the end of 2021 and into the new year, it’s jumped considerably to its current all-time high. While the global cryptocurrency market valuation of the entire crypto-economy has dropped in recent times, searches using the phrase “how to sell bitcoin” are low with a score of 12 on Friday. That’s 88% lower than Google Trend’s “how to sell bitcoin” high during the week of February 14th through the 20th of last year. That week, the query for the phrase “how to sell bitcoin” reached 100, while “how to sell ethereum” scored a 12. Interest in the phrase “how to sell ethereum” has increased to a score of 15 today. What do you think about the current trend of searches for terms like “bitcoin,” “ethereum,” and “NFT”? Let us know what you think about this subject in the comments section below. View the full article

The mayor of New York City, Eric Adams, is not deterred by bitcoin’s volatility, noting that buying the dip could yield “a good profit.” He reiterated that he will receive his first three paychecks in bitcoin and will make New York City the center of blockchain technology. New York Mayor Hints at Buying the Dip The mayor of New York City, Eric Adams, is undeterred by the falling price of bitcoin. A former New York City police captain and Brooklyn borough president, Adams took office on Jan. 1 as the 110th mayor of New York City. He was asked on CNBC Thursday whether he has been paid in bitcoin since he said last year that he will take his first three paychecks in BTC. Commenting on the price of bitcoin this week and how it would have affected his paychecks if he had been paid in the cryptocurrency, the new mayor of New York City laughed and said: Sometimes the best time to buy is when things go down, so when they go back up, you’ve made a good profit. “Yes, I’m going to take my first three paychecks in bitcoin,” Adams confirmed, but noted, “I haven’t received my first check yet.” He reiterated his crypto plans: “I think we need to use the technology of blockchain, Bitcoin, [and] all other forms of technology. I want New York City to be the center of that technology so I’m looking forward to that first paycheck in bitcoin.” At the time of writing, the price of BTC has fallen more than 13% within the past seven days. It is currently $41,364 based on data from Bitcoin.com Markets. A few other U.S. city mayors have said that they also want to be paid in bitcoin, including Mayors Francis Suarez of Miami, FL; Scott Conger of Jackson, TN; and Jane Castor of Tampa, FL. Miami Mayor Suarez said last year that he wants to receive his entire salary in bitcoin. He recently accepted the role of the president of the U.S. Conference of Mayors. “I’m going to ask my friends, my brothers and sisters, the mayors of this country to sign on to a mayoral crypto compact, because we need to lead in the absence of leadership,” he said Monday. “We need to make sure that our regulatory system embodies success into the future instead of stifling success.” What do you think about the New York City mayor’s stance on bitcoin and his plan to get paid in BTC? Let us know in the comments section below. View the full article

The price of bitcoin is down 16% over the last 30 days and since the crypto asset’s all-time high (ATH) on November 10, 2021, bitcoin has lost more than 38% since it surpassed $69K per unit that day. Meanwhile, crypto advocates are furiously debating whether this is a bitcoin bear market or if the bull market is still intact. To many observers bitcoin’s current market cycle is not complete, as no solid peak had formed, and speculators still expect another bubble to come to fruition. The Four Phases of the Price Cycle — Bitcoin Traders Debate Cycle Position, Trader Insists ‘Early February Will Be the Move’ Many digital currency traders pay attention to tops and bottoms and the four stages of the market cycle. The stages include the accumulation phase, the uptrend phase, the distribution phase, and the downtrend or capitulation phase. One could say that the accumulation phase took place 666 days ago on March 12, 2020, when the price of bitcoin slipped below the $4K per unit zone. On that day in March, the World Health Organization (WHO) announced the world was dealing with the Covid-19 outbreak and dubbed it a “pandemic.” If you were wondering why this cycle's bull run looks a little different from the previous ones. It's just the beginning. 🚀 #Bitcoin pic.twitter.com/q3X3z51x6X — Bitwatch 🟠 (@TheBitwatch) January 3, 2022 On that day, otherwise known as ‘Black Thursday,’ global markets worldwide were roiled and the crypto economy shed billions in a matter of no time, but the crypto economy recovery and accumulation phase started the very next day. The price of bitcoin (BTC) continued to uptrend and moved steadily into the markup phase as BTC had finally surpassed the $20K 2017 all-time high. By January 7, 2021, BTC’s price touched $40K for the first time in history. In mid-May, BTC’s price made it to the $66K zone for the first time and slipped below that region shortly after. Bitcoin’s price slid below the $40K zone around September 21, 2021, and people claimed that the price top was not in yet. They were correct as 50 days later, the price of bitcoin (BTC) hit a lifetime price high at $69K per unit on November 10, last year. Still, crypto advocates believe that the bull cycle is not over and one more parabolic uptrend may be in the cards. Most bitcoiners try to measure cycles by leveraging the time between BTC’s halving cycle. In the 1st and 2nd #Bitcoin halving cycles, price hit a linear 4.236 fib extension before finding support near linear 2.618 and moving higher. In the 3rd #Bitcoin halving cycle, price has hit a linear 4.236 fib extension and is trying to find support near linear 2.618. pic.twitter.com/7EbsaaXRAA — TechDev (@TechDev_52) January 5, 2022 Typically, because of bitcoin’s scarcity, the price rises before the reward halving, and the next halving is expected 850 days from now on May 6, 2024. That’s still more than two years away and people wholeheartedly believe that the bull market that led BTC to $69K is still in play. Bitcoiners are still expecting a double-bubble similar to 2013 where the price exceeds the $69K zone and peaks higher. Crypto market pundit Bobby Axelrod thinks that in early February observers will witness the next big move. “This next leg up, this next 60-day cycle beginning,” Axelrod tweeted. “Early February will be THE MOVE. Where bitcoin’s price ends up after the next move should be the cycle top IMO. At least I will be treating it as such.” Crypto Advocates Expect a Bitcoin Price Rebound — ‘Price Crash Means the Upside Surge Is Sooner to Come’ Crypto supporter Colin, host of the Youtube show “Colin Talks Crypto” thinks the market cycle has been lengthened. “Because of the apparent lengthening cycle of this bull run, I now think it is *more likely* for us to see a $300,000 bitcoin price than a mere $100,000 bitcoin price,” the Youtuber said on January 5. The same day, Colin tweeted: I’m happy that the bitcoin price is crashing— not because I like the price to go down, but because it means the upside surge is sooner to come. It’s like, ‘let’s get this crash over with so we can move into more bullish territory!’ Many other crypto supporters feel the same way. The Twitter account dubbed “Wicked Smart Bitcoin” wrote: “Perfect place to bounce IMO. Rekt everyone who longed at $43k and now everyone short (expecting a break down to $40k) will get rekt. Choppity chop chop. Don’t trade or use leverage. Just buy spot, self custody, and HODL for a cycle or two. Let hyperbitcoinization do its thing.” ‘The Midpoint Puke’ The Twitter account called @therationalroot shared a chart of all the bitcoin price cycles and the all-time high (ATH) price positions that were recorded within the cycles. “The 2021 cycle so far gave us 32 blue dots (ATH’s),” the bitcoin advocate said. “We had 72 in the 2017 cycle and 52 in the 2013 cycle. Let the fireworks for 2022 begin.” The trader, entrepreneur, and investor Bob Loukas described the cycle as a “midpoint puke.” Loukas said: Day 31 of the bitcoin Cycle, the midpoint puke. The overlay is the Cycle from May 23rd – July 20th 2021. Not a fan of overlays, I don’t trade off them, but similar conditions. I think $40k was always the more important level. More important is the early [February] timing. Currently, bitcoin’s logarithmic growth curve shows three bull runs with extreme peaks yet the current cycle looks incomplete and almost undecided. The chart shows that there have only been two times in bitcoin’s price history where it slid below the yellow low dev line, and the last time it happened was on March 12, 2020 (Black Thursday). The end of the chart and the yellow low dev line indicates that BTC’s price won’t go lower than $25K if it maintains the power-law corridor model without deviation. It’s safe to say that most bitcoiners even with the most advanced technical analysis skills are unsure of where bitcoin’s price is headed. Tai Zen, the crypto trader, entrepreneur, and CEO of the trading web portal cryptocurrency.market says people should wait until the bear market to acquire altcoins. “Bitcoin is on sale under $50K (laser eye price),” Zen tweeted. “We do not recommend buying any coins during the middle of a bull market. However, if u have extra cash & itching to jump into crypto, then the only coin I would buy is BTC [and] nothing else,” Zen added. What do you think about bitcoin’s current price cycle? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. We work harder every year to increase production of the consumer goods that meet everyone’s needs, but in many parts of the world, water pollution, over-fishing and environmental degradation are making the job increasingly difficult (and dangerous). The world’s population is growing and the oceans are becoming increasingly polluted. Our oceans have become “plastic soups”. In addition, the environmental effects of processing cryptocurrencies, due to the enormous consumption of electricity, have already been reported. For this reason, more environmentally friendly solutions are being sought to reduce the energy impact. Global Innovative Solutions is taking action by launching GSI, the Green Token that helps clean up the planet’s pollution (for real). Global Innovative Solutions: The GREEN revolution The company has undoubtedly distinguished itself from the many projects in the crypto market with an innovative and valuable initiative. GSI finances and develops ecologically sustainable and nature-friendly activities using blockchain technology. Essentially, it is a decentralized finance project that has loudly announced its goal to “fight global pollution, token by token”. But how does it do it? GSI Token: How it works Global Innovative Solutions is responding to the pollution problem by launching GSI Token on the cryptocurrency market. The aim is to drive its mass adoption to help save the planet from pollution while ensuring a gradual and progressive increase in the value of the token. This is made possible by the numerous ‘Green Partnerships’. Partner companies, such as those involved in wastewater treatment, are at the heart of the project. In this particular case, Global Innovative Solutions acts as a broker between the partner companies and its customers. Orders that arrive at the partner companies are taken over by them. Global Innovative Solutions pays exactly half of the invoiced amount to the partner company immediately (by bank transfer). The other half is paid out in the form of GSI Tokens purchased on the market. In practice, every time a request for services is taken over from the partner company, there will be a strong impact on the market and consequently there will be an inevitable increase in the price of the Token. The focus, however, is on the actual and tangible reduction of pollution through the installation of green systems by the partner companies. This is clearly a sign of how much the company cares about its mission. How blockchain can help reduce water pollution Every GSI token issued in the market is backed by concrete results. There is no way to generate money if it is not matched by a real and tangible reduction in global pollution. Each transaction certifies the real environmental benefit and this is recorded on the blockchain. Certification of pollution reduction is therefore documented by payment. Only when these particular conditions are met will the owners issue the tokens. In addition, GSI has thought about rewarding its holders: For every ton of Co2 saved by the installation of the partner companies’ systems, 221,000 tokens will be mined (estimated amount of Co2 saved in one month). Of these, 22% will then be distributed to holders in proportion to the amount of tokens already held. Therefore, blockchain technology comes to our aid because through it we can verify and monitor the actual benefit that the GSI ecosystem is having on the planet. GSI’s strengths GSI’s Tokenomics was created to not depreciate over time, in fact it is quite elaborate. Global Innovative Solution has innovated in the crypto sector by introducing several mechanisms to prevent token loss of value. We are talking about: Buy-Back Program Global Innovative Solutions will reinvest 21% of the profits generated each month in the purchase of GSI tokens at market price. In this way, the company will constantly provide liquidity, preventing the price from losing significance over time. Unlocking at 1% Tokens purchased in the pre-launch phase will be released monthly at a rate of 1%, in proportion to the number of GSI held in the wallet, thus avoiding depreciation and ensuring a long-term, secure, passive income. Charity Global Innovative Solutions will donate 2% of profits each month to charity for water purification and pollution reduction in line with the 2030 Agenda goals. Conclusions With the help of blockchain, we can now dramatically and visibly reduce the pollution of our planet. GSI is committed to creating innovative and sustainable solutions that help people reduce waste and environmental pollution. To learn more about the project visit https://www.gsi.finance/ and join the Green Community: https://t.me/gsitoken This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Boba Network, an L2 (layer 2) expansion layer for Ethereum, has announced the launch of what it calls “Wagmi” options as a way of incentivizing builders and supporters to be invested in the project. The incentive programs will be distributed amongst different projects on the chain and will be based on various indicators such as active wallets and project-specific total value locked (TVL). Wagmi Options to Serve as Incentives for Building on Boba Boba Network, an optimism-based L2 (layer 2) solution for Ethereum, has announced the launch of an incentives program using Wagmi options. These options, according to the Boba team, will be a different solution from what other chains have tried before. With Wagmi options, which will depend on network parameters such as total value locked (TVL), or specific project developments, the team hopes to keep the momentum going inside of its network. On this, the Boba team explained: Traditional liquidity mining programs are zero-sum: users come to collect high rewards and are incentivized to keep those rewards. WAGMI farming turns this model on its head by being positive sum: users are incentivized to evangelize and encourage behaviors that grow Boba. These options will have different versions and are to be adopted by several projects that apply to include them in the coming weeks. Liquidity Incentives Several chains have tried to incentivize builders and developers to construct apps on top of their chains. Avalanche, Harmony, Cardano, and BSC are just some of the players in the market that have applied this technique to increase activity and bring users to their chains, with different results. Boba Network seeks to turn this into a “positive-sum, sustainable mechanism.” Boba’s mainnet was launched in September last year, and it managed to rise as one of the leading L2 networks, reaching the second spot in TVL among these on November 28, only behind Arbitrum. However, since then, the network has lost some steam, falling to fourth place while being surpassed by Loopring and Dydx, according to the info at L2beat, an L2 statistics monitor. The team behind this initiative states this will be the first time that options farming is implemented in any network and that they hope this initiative could also set a trend for other projects to take advantage of options to better distribute incentives. What do you think about Boba Network’s Wagmi incentives program? Tell us in the comments section below. View the full article

Crypto-related profits, such as those resulting from the trading of digital currencies, will be taxed at a rate of 15%, a finance ministry official has revealed to the local press in Thailand. After last year’s significant market growth, the department intends to improve surveillance of crypto trade in 2022. Thailand Urges Crypto Traders to Report Profits on Tax Returns The Ministry of Finance in Thailand advises investors to indicate their income from crypto holdings when they file their tax declarations this year, the Bangkok Post reported on Thursday. Capital gains from cryptocurrency trading will be subject to a 15% tax, the newspaper added, quoting a source from the ministry. The obligation concerns all taxpayers who made a profit from transactions with cryptocurrencies, including investors and operators of crypto mining facilities, the official clarified. Digital asset exchanges, however, will be exempt from the levy. Profits from cryptocurrency trading are considered assessable income under Section 40 of the Royal Decree amending Revenue Code No. 19, the report explains. In view of the significant expansion of the digital asset market in 2021, financial authorities now plan to improve their oversight over coin trading activities in the country. Not all aspects of crypto taxation are clear though, as a representative of the industry has pointed out. Akalarp Yimwilai, co-founder and chief executive of crypto exchange Zipmex, remarked that many questions remain regarding how to calculate profits. One of them is whether gains from a price increase as the U.S. dollar strengthens are considered a profit. He further elaborated: Tax methods and calculations should be more concise, clear and easy to understand. Many people I know want to pay taxes, but don’t know how to calculate them. He added that Zipmex has been trying to develop a system that would allow its customers to estimate their profits and losses but the task has proved difficult to solve. “If the Revenue Department really has such an advanced data analytics system that it can precisely calculate gains from cryptocurrencies, it would be a great benefit to share it with the industry,” he noted. Authorities in Thailand, a major tourist destination, have been trying to demonstrate a friendly attitude towards the growing number of cryptocurrency users, especially among visitors. In September, the country’s tourism authority announced it wanted to foster what it described as a “cryptourism atmosphere” and in November its governor emphasized that Thailand must become a “crypto-positive society.” Last month, Bank of Thailand officials stated that crypto payments are not illegal. Do you think authorities in Thailand will further clarify taxation rules for cryptocurrency investors? Tell us in the comments section below. View the full article

A Nasdaq-listed company has announced that shareholders can receive dividends in bitcoin. The company claims to be the first one to pay dividends in the cryptocurrency. ‘First-Ever Dividend Payable in Bitcoin by a Nasdaq-Listed Company’ Blockchain company BTCS Inc. (Nasdaq: BTCS) announced Wednesday “the first-ever dividend payable in bitcoin by a Nasdaq-listed company.” BTCS refers to the dividend as Bividend. Charles Allen, BTCS’ CEO, commented: We are the first Nasdaq-listed company to pay a Bividend, a dividend payable in bitcoin at the option of our shareholders. “BTCS intends to pay $0.05 per share in bitcoin, based on the bitcoin price on the ex-dividend date. Investors who do not elect to receive the Bividend in bitcoin will receive a cash dividend of $0.05,” the company detailed. The Nasdaq-listed blockchain company is developing a proprietary staking-as-a-service platform to allow users to stake and delegate supported cryptocurrencies through a non-custodial platform. BTCS’ proprietary digital asset data analytics platform currently supports six exchanges and over 800 digital assets. The company plans to broaden its suite of performance-tracking tools. Do you think all companies should offer shareholders the option of receiving dividends in bitcoin? Let us know in the comments section below. View the full article

On Wednesday, the non-fungible token (NFT) data and analytics platform Cryptoslam raised $9 million in a capital funding round led by Animoca Brands. Cryptoslam detailed that Mark Cuban participated in the financing and Ashton Kutcher’s and Guy Oseary’s Sound Ventures joined in as well. Cryptoslam Reveals $9 Million Capital Raise, Animoca Brands Leads Investment Non-fungible tokens (NFTs) have become a big deal and a billion-dollar industry since the boom started last year. On January 5, 2022, the NFT-centric data and analytics platform Cryptoslam revealed the company raised $9 million from strategic investors. According to the announcement, Animoca Brands led Cryptoslam’s capital raise, but Mark Cuban and Sound Ventures also participated. The aforementioned investors have been investing a great deal of funds into NFT projects and blockchain startups. For instance, at the end of November, the NFT protocol Unicly raised $10 million from Animoca Brands and Blockchain Capital. Cryptoslam’s founder and CEO, Randy Wasinger, said the company was thrilled to get investors like Animoca Brands and Mark Cuban onboard. Wasinger also insists that NFTs are not going anywhere any time soon, as the blockchain trend is here for good, the Cryptoslam founder opined. “NFTs entered the mainstream this past year and are here to stay,” Wasinger said in a statement following the capital raise. “Since 2018, we’ve been laying the groundwork to provide ultimate transparency for the NFT industry, and this strategic capital raise marks a key milestone for us as we continue to grow along with it. We’re blessed to have Animoca Brands, Mark Cuban and an incredible list of other strategic investors aligned with us as we take this next step forward.” Co-Founder of Animoca Brands: ‘Cross-Chain Aggregation and Analysis of NFT Data Are Services Essential’ The well known investor and billionaire Mark Cuban is a fan of NFT technology and owns a valuable collection. In fact, Cuban owns Cryptopunk #869 that currently has a valuation of around 126.58 ether or $432K, according to today’s metrics. Furthermore, Cuban also owns Bored Ape Yacht Club (BAYC) #1597, which has a floor value of 67.89 ether or $232K at the time of writing. Cryptoslam says its NFT collection rankings are recognized as a “leading cross-blockchain indicator of interest in NFT collections, much like Coinmarketcap is for cryptocurrencies.” Yat Siu, the executive chairman and co-founder of Animoca Brands agrees with Cryptoslam and says that a reliable cross-blockchain indicator in the industry is needed. “Cross-chain aggregation and analysis of NFT data are services essential to the development of the open metaverse, and Cryptoslam has clearly established itself as a leader in this area. We’re thrilled to support this talented team,” Siu remarked during the announcement. There are a number of cross-chain aggregation competitors and NFT metrics providers these days, as NFT data has become very popular. Users and spectators are getting their NFT data and analytics from providers like Dune Analytics, Defillama, Dappradar, Nonfungible.com, and more. What do you think about Cryptoslam raising $9 million from strategic investors? Let us know what you think about this subject in the comments section below. View the full article

The Japanese entertainment conglomerate and video game company, Konami Holdings Corporation, has revealed a non-fungible token collection in order to celebrate the 35th anniversary of the firm’s franchise “Castlevania.” Konami follows the slew of gaming giants like Ubisoft and Square Enix that have shown a strong interest in developing NFT technology. Konami Unveils NFT Collection Dedicated to the Castlevania Video Game Franchise The gaming giant Konami has leaped into the NFT world faster than pressing up, up, down, down, left, right, left, right, B, A. On Thursday, Konami launched the Castlevania 35th Anniversary NFT collection web portal and the collection will be auctioned on the leading marketplace Opensea. #悪魔城ドラキュラ シリーズ35周年を記念して、過去作品のゲームシーンやBGM、メインビジュアル等を用いたNFTアートのオークション販売が決定しました！ NFTは全14種各1点ずつ。詳細は公式サイトでご確認ください。https://t.co/AZXKsPCvm2 オークションは1月13日7時より開始予定です！#Castlevania pic.twitter.com/B7dVK5ZYwo — KONAMI コナミ公式 (@KONAMI573ch) January 6, 2022 Konami is a well known video game software manufacturer and the owner of popular franchises including “Castlevania,” “Contra,” “Frogger,” “Metal Gear,” “Silent Hill,” “Parodius,” “Gradius,” “Yu-Gi-Oh!,” and “Suikoden.” The gothic horror action-adventure video game series Castlevania debuted 1986 on the Nintendo Entertainment System (NES). According to statistics, Konami’s Castlevania franchise has sold more than 20 million copies. Konami Joins Square Enix’s Metaverse Discussions and Ubisoft’s NFT Entry Konami’s Castlevania NFT collection consists of 14 pieces of art and the sale will begin on January 12. Konami’s entry into the crypto space follows the president of Square Enix discussing NFTs and the metaverse in a new year’s letter. Ubisoft, another video game franchise competitor, has already launched NFTs that can be used in Tom Clancy’s Ghost Recon Breakpoint on a personal computer (PC). Ubisoft received backlash over the NFTs and the company was criticized over the inclusion of NFT elements or NFT items’ utility. Konami’s NFTs are simply collectibles that feature “game scenes, background music (BGM), and newly drawn visuals.” Furthermore, Konami’s approach has been more silent with less talk about creating NFT collectibles and simply launching the NFT products. Some video game fans have been mocking Konami’s entry into the NFT space and discussions about the company’s NFTs are littered all over social media on Thursday. “Konami doing NFTs now?” one gamer wrote on Twitter. “Instead of doing anything actually worthwhile with Castlevania? Why am I not surprised?” What do you think about Konami getting into NFTs and releasing a collection for the 35th anniversary of Castlevania? Let us know what you think about this subject in the comments section below. View the full article

From the moment you minted the selected AOZ citizen NFT, we believe a bond has been created between you and this particular PFP artwork, or a persona of the digital world. Digital doesn’t make it less real. There is something about it that strikes you, and you’d believe that it has a particular character you’d also seen in yourself beneath its colorful skin. Now you’ve got a chance to bring your AOZ citizen persona to life. The cooperation jointly announced by Mirrorworld and Metaverz Studio (who has created and launched the AOZ project) on January 6th, 2022 will enable you to mint a SOUL for your AOZ persona. What is a Soul? A Soul is a dialogue chip powered by artificial intelligence to make your NFT more engaging and interactive. Every Soul NFT can be incorporated into an existing NFT to bring it to life. More specifically, Soul NFT consists of 6 levels of dialogue. Mirror World commercialized the world’s first intelligent NFT in May 2021. How do you claim a Soul? Website: https://mirrorworld.fun/ Start time: 8 AM UTC, January 6, 2022 AOZ launched public minting on December 15, 2021, hitting milestones of 1500 NFTs for public mint. All our AOZ NFT holders are eligible for a complimentary Mirror World Soul. First, visit the Mirror World website, select “SOUL” on top, and click the “Claim” button. Next, connect your MetaMask wallet and make sure it’s operating on the Mainnet. Then, proceed with the Soul Claiming process by clicking the “Confirm” button in the MetaMask wallet. Holders are responsible for the gas fee for minting. Guide: https://assets.mirrorworld.fun/doc/Soul_Claiming_Guide_EN.pdf Binding your Soul: After you have claimed your Soul, you can bind it to your AOZ NFT by clicking the “Bind now” button. Once the binding process completes, you can communicate with your AOZ NFT as it’s now endowed with intelligence. If you happen to have more than one AOZ NFT, you can release your Soul and bind with anyone you desire. Guide: https://assets.mirrorworld.fun/doc/Soul_Claiming_Guide_EN.pdf Stay Tuned In Q1 2022, AOZ will introduce a community creation feature enabling AOZ holders to develop derivatives of their Citizens. Community governance will be established for holders to discover new opportunities to use their NFTs in Defi and gaming. A liquidity pool will be set up to stabilize AOZ NFT prices, coming from 5% of sales. In Q2 2022, AOZ will launch the Metaverse of Decentropolis and introduce AOZ gamefi. Decentropolis is vulnerable to aliens, and all citizens must combat these invaders and restore the city together. Users will explore the interactive metaverse with NFT avatars and enjoy an incredible multiplayer experience. About AOZ Launched by Metaverz Studio, Age of Z (AOZ) is a revolutionary Photo For Profile project that incorporates the Gen Z community’s principles and values: inclusivity, privacy, and free will. AOZ comprises 1993 hand-drawn “Citizens”, each with its own set of futuristic qualities. All citizens are committed to establishing a self-sufficient, autonomous, and harmonious new world in which innovative and collaborative solutions are adopted to protect and enhance privacy. The AOZ metaverse is an open and decentralized community featuring cyberpunk and contemporary art. About Mirror World Mirror World is a virtual world on blockchain-powered by artificial intelligence and other technologies. It integrates multiple games and experiences and gives users access to various gaming scenarios by utilizing interconnected and independent economic systems. There are AI virtual creatures capable of exercising their wills, along with real-world users. Users can communicate with them in the Mirror World and interact with them in social, gaming, and other scenarios. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

A crackdown on bitcoin mining by China has led to an increase in the number of Thai investors that have acquired and are operating mining rigs, a report has said. The report adds that many of these investors are currently earning between $30 and $40 per day from each mining rig. Chinese Crackdown and the Effect on Mining Rig Prices The number of bitcoin miners in Thailand surged in 2021 after China’s ongoing crackdown on bitcoin mining forced major players in the industry to quit or to ship their equipment to countries with friendlier regulations. As explained in an Aljazeera report, a brief price drop that followed the restrictions made it possible for many smaller investors to acquire the mining gear from the fleeing, China-based miners. Although prices of mining rigs have since returned to more than $13,000 for each new machine, it’s suggested that demand for the machines has not waned. To support the assertion that Thai investors are still buying the mining gear, the report quotes Pongsakorn Tongtaveenan, a businessman who has been buying the Antminer SJ19 Pro from miners fleeing China and selling these to local investors. In the report, Tongtaveenan offers his thoughts as to why his fellow countrymen are investing in the mining rigs. He said: Bitcoin is the gold of the digital world. But a mining rig is like gold mining stocks: you’re paid dividends according to the gold price. There’s around 100,000 Thai miners now. Thai Investors Eye Mining in Laos According to the report, some of these miners are earning between $30 and $40 from running the machines. For others, like one unnamed bitcoin enthusiast-turned-miner, the Chinese crackdown proved to be an important turning point. “The moment China banned crypto, we were ecstatic. I made it all back in three months,” said the miner who claims to have used $30,000 to kickstart his solar-powered mining operation. Meanwhile, bigger Thai investors are reportedly considering setting up operations in neighboring Laos, which recently gave mining licenses to six companies and where the cost of electricity is cheaper. However, just like other potential investors, Thai investors that wish to invest in Laos will have to meet the initial terms which include buying electricity worth $1 million from the Laotian state grid per annum as well as paying a large operating fee. What are your thoughts about this story? Tell us what you think in the comments section below. View the full article

The CEO of the world’s largest movie exhibition company, AMC Entertainment, says his company is on track to accept meme cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB) in the first quarter of this year. Dogecoin and Shiba Inu Coming to AMC Theatres Soon The CEO of AMC Theatres, Adam Aaron, has provided an update on his company’s progress in accepting meme cryptocurrencies dogecoin (DOGE) and shiba inu (SHIB). AMC Entertainment Holdings (NYSE: AMC), aka AMC Theatres, is the largest movie exhibition company in the U.S., Europe, and the world. The company owns or operates approximately 950 theaters and 10,500 screens globally. Aron tweeted Thursday that he has been asked repeatedly when AMC expects to accept dogecoin and shiba inu cryptocurrencies “for any and all payments made via the AMC website and mobile app.” He clarified that he is being told that AMC is still “well on track” for the promised Q1 implementation, noting that the exact month is most likely March. The AMC executive announced in November last year that his company will accept DOGE and SHIB via Bitpay. At that time, Bitpay had not started supporting shiba inu. Aron claimed that the crypto payment processing company decided to start supporting SHIB at his request. Aron also said at the time that AMC will start accepting shiba inu in Q1 this year. In early December, Bitpay, which already supported DOGE, started supporting SHIB. What do you think about AMC Theatres accepting dogecoin and shiba inu? Do you think all vendors should accept the two meme cryptocurrencies? Let us know in the comments section below. View the full article

PRESS RELEASE. Pocket Network exceeded $56,000,000 in monthly revenues in December placing it in the Top Five revenue producer for blockchains globally surpassing many well known chains. Tampa Bay, Florida, U.S.A – 6th January 2022 – Pocket Network – an infrastructure middleware protocol that provides decentralized cloud computing and abundant bandwidth on full nodes to other applications across 20 blockchains, including Ethereum, Polygon, Solana and Harmony has closed a strategic round of $10 Million led by Republic Capital, RockTree Capital, Arrington Capital and C2 Ventures, as well as other notable participants such as Coinshares, Decentral Park Capital and Dominance Ventures. Pocket Network has gone from tens of thousands of weekly relays at the start of 2021 to over two billion relays in a single week in December and is rapidly scaling as demand from L1s and dApps for its services increases. For the month of December, relays were 5.5 Billion compared to 89M 12 months earlier. Since July, Pocket Network’s usage has more than doubled monthly, measured in “relays” which are API calls processed by the protocol. Just this past week, it broke its average daily record by serving 300M+ relays. The growth in network usage has resulted in corresponding node growth on a network now served by over 18,000 nodes run by hundreds of independent community parties and providers. With total network revenue exceeding $56 Million in the month of December, Pocket Network is already comparatively amongst the Top 5 revenue producers for all blockchains and blockchain applications globally (source data from Token Terminal*), while remaining relatively under the radar until now, including having revenues surpassing that of Solana, Elrond, Harmony, and most DeFi protocols. “Today in blockchain, the valuation of a project is based on its actual performance and real metrics. In Pocket Network, we have uncovered a gem that is scaling at warp speed and its performance is measurable onchain. Many exchanges and dApps are still reliant today on Web2 centralized cloud computing and hosting providers which can cause costly outages when they go down. RockTree believes Pocket Network is critical infrastructure for the Web3 revolution, that offers true decentralization and constant uptime for a multi-chain blockchain future. Just look at the onchain data” said Omer Ozden, CEO of RockTree Capital, a fund and merchant bank focused on projects at the nexus of Asia and North America. “I want to add that it is Pocket’s high quality team and leadership that has made it an easy choice for RockTree to be their Asia partner and invest.” Building on its already large community of thousands of node runners Pocket Network aims to scale into the trillions of relays per day, spread across hundreds of thousands of full nodes within the next 5 years. “We’re incredibly excited to support Pocket Network in its mission to incentivize L1 decentralization. We are believers in many different ecosystems — including Terra, Algorand & Polkadot — and understand the need for wide node distribution at the base layer. Ultimately, POKT is critical to enhancing the long-term robustness and antifragility of the entire crypto-ecosystem”, said Michael Arrington, Founder of Arrington Capital. “Pocket Network’s market-based approach to infrastructure properly demonstrates how Web3-native services can outcompete Web2 incumbents both in economics and performance. For blockchain app developers and node runners alike, Pocket is a clear no-brainer.” added Alex Ye, Managing Director, of Republic Crypto. “We announced earlier this year the strategic partnership with Rocktree Capital, who is helping lead the global acceleration of our presence into all of the major blockchain markets. Today we are excited to announce the continued acceleration of this plan through the strategic partnerships formed in this sale with Republic, Arrington Capital and many high impact players providing value to the whole Pocket Network ecosystem.” – Michael O’Rourke, CEO of Pocket Network Pocket Network is targeting increasing developer adoption and node coverage through multiple initiatives, including an extensive multi-jurisdictional expansion into the Asia-Pacific region in the coming year. About Pocket Network *Token Terminal will publish full revenue data for Pocket Network on January 5th Pocket Network, a blockchain data ecosystem for Web3 applications, is a platform built for applications that uses cost-efficient economics to coordinate and distribute data at scale. It enables seamless and secure interactions between blockchains and across applications. With Pocket, the use of blockchains can be simply integrated into websites, mobile apps, IoT and more, giving developers the freedom to put blockchain enabled applications into the “pocket” of every mainstream consumer. RockTree Capital, a merchant bank and fund based in China focused on blockchain projects and mobile e-commerce companies, with offices in Beijing, Shanghai, New York and Toronto. RockTree Capital invests into top-tier blockchain projects and accelerates their growth in Asia. Arrington Capital is a digital asset management firm primarily focused on blockchain-based capital markets. The firm, founded in 2017 by TechCrunch and CrunchBase founder Michael Arrington and TechCrunch CEO Heather Harde, has over $1 billion under management and has invested in hundreds of startups across the world. Republic Capital is a leading investment platform that provides access to startup, real estate, crypto, and gaming investments for both retail and accredited investors. Republic has facilitated over $700 million in investments by our global community of over one million members C2 Ventures is a chain-agnostic venture fund, focused on empowering builders with capital as well as operational expertise to develop and scale the next generation of leading Web3 and Metaverse applications. For more information, visit: Pocket Network This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

According to a document produced by a Pakistani policy advisory board, the country is likely to earn billions of dollars from crypto-asset holders. Yet for this to happen, the country first needs to create the appropriate regulatory framework for crypto assets. Cryptocurrencies Could Boost Reserves Pakistan may potentially raise billions of dollars from crypto assets held by its nationals or by residents with dual citizenship, a policy document produced by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has said. According to a report in The Business Recorder, the document titled “Prospect of Cryptocurrencies: A Context of Pakistan Policy Brief” asserts that Pakistan could also use the crypto assets to help boost the country’s reserves. However, before it adopts the recommendations of the policy document, Pakistan needs to craft a regulatory framework as well as a national cryptocurrency strategy. This, according to the report, must be done in order to protect the country’s economic interests. Concerning the volatility of cryptocurrencies, the policy document reportedly recommends their recognition as an asset class. In addition, the report also explains how cryptocurrency exchange-traded funds (ETFs) are likely to attract both domestic and foreign investors. Such a crypto ETF could ostensibly help the Pakistan Stock Exchange regain its position among emerging economies. On the other hand, the report argues that Pakistan’s failure to adopt crypto could result in cryptocurrency holders moving their assets to countries that are more friendly to digital currencies. The Business Recorder report reveals that the Financial Action Task Force (FATF) has similarly called on Pakistan authorities to consider regulating cryptocurrencies. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Minutes from the U.S. Federal Reserve’s policy meeting on December 14-15 show that the central bank is being persistent about unwinding quantitive easing (QE) tactics and that it views ultra-low interest rates as no longer necessary. Global markets immediately dropped after the news was published as stock markets roiled, crypto markets shed billions, and precious metals like gold slipped a hair in value as well. US Central Bank Policy Meeting Suggests the QE and Low-Interest Rate Fiesta Is Coming to an End, Global Markets Lose Billions Recently published notes from the Fed meeting last month indicate that the U.S. central bank thinks the economy is healthy enough to unwind major asset purchases and increase the benchmark interest rate. Mizuho Bank’s Vishnu Varathan wrote in a report that the minutes update from the Fed “bludgeoned the markets” after it was published. Barron’s financial author Randall W. Forsyth wrote that investors being “surprised, is somewhat surprising.” Fed chair Jerome Powell gave no details on when the interest rate hike will begin and when it comes to QE, Powell said it was “best to take a careful, methodical approach.” Powell insisted that the cautious attitude toward tapering is because “markets can be sensitive.” Stock markets were sensitive on January 5, after the Fed minutes were published, and the crypto economy shed billions in value as well. Gold shed 1% and silver shed 3% in value during the last 24 hours after the Fed minutes were published. Asian stocks fell during the overnight (EST) trading sessions as well following Wall Street’s plunge. On Thursday, Wall Street’s top indexes picked up some gains as the Nasdaq and NYSE were up some percentage points in the morning, but the Dow Jones index was still down 100 points. Digital currency markets across the board are down 8.3% as the crypto economy is valued at $2.17 trillion today. The last Fed minutes meeting indicated that the level of inflation in the U.S. has increased a great deal but the strength of the economy was considered healthy. Fed participants wrote that they wanted to “begin to reduce the size of the Federal Reserve’s balance sheet relatively soon after beginning to raise the federal funds rate.” The next U.S. central bank meeting is slated for January 25-26. What do you think about the Federal Reserve’s latest minutes report and the market changes that ensued shortly after? Let us know what you think about this subject in the comments section below. View the full article

Measures imposed by authorities to quell mass protests in mining hotspot Kazakhstan are affecting cryptocurrency markets and the Bitcoin network hashrate. To deal with the civil unrest caused by rising fuel prices and a worsening economy, the government restricted access to the internet and closed down local banks. Fears are rising that the turmoil may spark another major migration of miners now that some are already leaving the country, which also faces power shortages. Government Takes Country Offline as Protests Rage in Major Cities, Russia Sends Troops Thousands of Kazakhstanis took to the streets this week to express their anger over the socioeconomic conditions in their country after the government removed a cap on prices of natural gas and other fuels. Protests erupted in the country’s largest city, Almaty, the capital Nur-Sultan, and in the western Mangistau province. Authorities have imposed a state of emergency. Over 1,000 citizens have been injured, official media reported, during the demonstrations in which government offices were attacked, guns fired, and people killed both among protesters and law enforcement officers. On Jan. 5, President Kassym-Jomart Tokayev dismissed the government, blaming ministers for the situation that threatens to spiral out of control. Russia has already sent “peace keeping” troops after Tokaev asked the allied country for help in the face of a “terrorist threat.” Новые видео из Казахстана. Алмата. #Kazakhstan #назарбаев #токаев pic.twitter.com/jn9aba2J6t — Протесты в мире (@worldprotest_tg) January 4, 2022 Kazakhstan has been largely offline in the past couple of days, with disruptions affecting phone connections as well. The monitoring group Netblocks revealed on Wednesday that the country is in an internet blackout. On Thursday, the state-run Khabar 24 TV news channel confirmed that access to the world wide web has been restricted with users being unable to reach social media platforms and messaging apps. Meanwhile, all bank offices across the nation have been closed down, according to a representative of the National Bank of Kazakhstan quoted by the Russian Interfax news agency. The official, Olzhas Ramazanov, explained that the regulator has made the decision after “taking into account temporary internet interruptions as well as to protect the health and life of employees of financial institutions and consumers of financial services.” Kazakhstan Unrest Hits Crypto Markets, Bitcoin Hashrate The rapidly developing events in Kazakhstan affected cryptocurrency markets and the price of bitcoin (BTC) fell below the $44K mark on Wednesday when the crypto economy shrank by around 4.5% to $2.25 trillion, as Bitcoin.com News reported. The cryptocurrency with the largest market capitalization is trading under $43,000 per coin at the time of writing on Thursday. Amid the crackdown on crypto mining launched by the Chinese government in May, Kazakhstan became a magnet for companies involved in the minting of digital currencies, thanks to its capped electricity rates and generally positive attitude towards the industry. The country’s average monthly hashrate share exceeded 18% last year, with the Central Asian country turning into a major mining hotspot. Starting the new year at almost 229 exahashes per second (EH/s) on Jan. 1, the mean hashrate of the Bitcoin network fell below 170 earlier this week. It currently stands at 167.86 EH/s, at the time of writing. Members of the crypto community have expressed fears that a further deterioration of the situation in Kazakhstan could affect the indicator even more as miners may begin to relocate to jurisdictions with a more stable political environment and power supply. While Kazakhstan initially welcomed mining companies and has taken steps to regulate the sector, authorities have blamed the country’s growing problems with electricity shortages on the influx of mining companies. The power deficit exceeded 7% in the first three quarters of 2021 and interruptions in energy supply have already forced some businesses to shut down crypto farms and move equipment to other mining destinations such as the U.S. Do you think the crypto world will witness another major migration of miners in 2022 due to the events in Kazakhstan? Share your expectations in the comments section below. View the full article

On January 5, digital currency markets shed a great deal of value as bitcoin dropped below the $44K handle during the late afternoon (EST) trading sessions on Wednesday. Nearly every coin has shed 24-hour value, but a slew of crypto assets have seen double-digit gains and have managed to stave off the crypto economy downturn. This Week’s Double-Digit Crypto Gainers At the time of writing, the crypto economy is down more than 7% to a low of $2.16 trillion on Thursday, January 6, 2022. The price of bitcoin (BTC) has lost 7% this week as well as it dropped below the $44K zone from the $46K region where it sat 24 hours prior. BTC’s current 24-hour range is between $46,901 per unit and a low of $42,466 per unit. Other top crypto assets have shed significant value as well as ethereum (ETH) is down more than 10%, binance coin (BNB) has lost over 8%, and solana (SOL) has dipped more than 11% in USD value. Weekly metrics were recorded on January 6, 2022, at 9:45 a.m. (EST). Despite the major drawdown across most of the 12,000 crypto assets in existence, a number of digital coins have seen double-digit seven-day gains against the U.S. dollar. For instance, osmosis (OSMO) is up 41.3% this week, and cosmos (ATOM) has jumped 34.9%. Those two tokens are followed by fantom (FTM) (+32.5%), ravencoin (RVN) (+27.7%), and internet computer (ICP) (+25.9%). MIOTA, SPELL, SUSHI, KDA See Double-Digit Losses This Week Harmony (ONE) jumped 25.7% this past week, chainlink (LINK) is up 23.5%, and yearn finance (YFI) has increased 23.3% in seven days. In addition to the aforementioned gainers, celo, curve, mina protocol, near, klaytn, thorchain, stellar, helium, kucoin token, bittorrent, and oasis are still up this week with 1% gains or higher. The biggest loser during the last seven days was iota (MIOTA) as the crypto asset shed 19.5% in value. MIOTA is followed by spell token (SPELL) (-18.8%), sushi (SUSHI) (-18.5%), and kadena (KDA) (-16.7%). At the time of writing, more than a dozen stablecoins are the only tokens that managed to stave off the 24-hour slide due to their fiat pegs, and all of them command roughly $98.2 billion in global trade volume. Statistics show that 61.95% of all the trades on January 6 are against the myriad of stablecoin crypto assets. What do you think about this week’s double-digit crypto asset gainers? Let us know what you think about this subject in the comments section below. View the full article