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Boxing legend Floyd Mayweather will release his own NFTs before the upcoming bout with Youtuber Logan Paul. The exclusive collection celebrates Mayweather’s legacy in life and sport with unique items. Floyd remained undefeated throughout his professional career after winning major titles in multiple weight classes. NFT Collection to Feature Rare Mayweather Memorabilia The NFTs will represent а digital collection of artwork, animations, and rare memorabilia offered to boxing fans and non-fungible token (NFT) collectors around the world. The exclusive pieces will be released later this month, ahead of Mayweather’s exhibition match with famous Youtuber and now boxer Logan Paul in early June. Speaking about the initiative, the boxing icon stated: I started from nothing and beat all the odds to achieve what I did in my career and I think that’s the American dream… These digital collectibles give everyone a chance to be part of the Mayweather legacy. The items in the NFT collection will be secured using blockchain technology. Non-fungible tokens (NFTs) provide a reliable means to prove ownership of various digital artifacts such as images and videos using distributed ledgers. They have enjoyed a growing popularity and Mayweather Jr. now joins an expanding club of artists, athletes, and other celebrities who have issued NFTs. Logan Paul launched his own tokens in February, reportedly making millions from their sale. 3 Crypto Companies to Facilitate Floyd’s NFT Release The pieces in the unique collection are being designed by Reality Gaming Group, a publisher of blockchain-based digital entertainment, which works in partnership with Ironbend, provider of turnkey digital NFT solutions and NFT production company Zytara Labs. The NFT drop is scheduled for May 26, ahead of Mayweather’s fight with Paul on June 6. Floyd “Money” Mayweather is coming out of his retirement with 50 wins in his professional record to face the young Youtube influencer who has over 20 million subscribers but only one professional boxing match that he lost to British Youtuber and rapper KSI. “As anticipation of the event builds, this NFT drop will offer rare, must-have digital collectibles for both NFT collectors as well as die-hard Floyd Mayweather fans from around the world,” a press release detailed. “The officially licensed content will be of the highest quality and fans can start collecting the limited-edition items secure in the knowledge that they will own a unique piece of Floyd Mayweather’s legacy,” said Reality Gaming CEO Morten Rongaard. Mayweather’s NFT endeavor is not his first foray into the cryptocurrency world. Four years ago, the boxing icon began promoting token sales in initial coin offerings (ICOs). Then in late 2018, the U.S. Securities and Exchange Commission fined the boxer for his involvement in unlawful ICO promotion and he agreed to pay over $600,000 to settle the charges. The SEC found that Mayweather had failed to disclose promotional payments he received from three ICO issuers. What are your thoughts on the NFT collection celebrating Floyd Mayweather’s legacy? Tell us in the comments section below. View the full article

The leading blockchain Virtual Reality (VR) Metaverse platform Dvision Network is set to migrate to the Binance Smart Chain network through the cross-chain bridge. Dvision Network has changed the blockchain space by offering users an ecosystem that encompasses NFTs and virtual reality. The migration to Binance Smart Chain could prove to be a masterstroke by the cutting-edge NFT Metaverse platform. Binance Smart Chain Offers Wide Range of Possibilities Dvision has already announced their readiness to launch on BSC in their blog post and also started a countdown in their website, which pinpoints to the official launch of the bridge on 20th May. Currently, Dvision Network is based on the Ethereum network, and despite the popularity of Ethereum, it has been plagued by significant problems. Ethereum current architecture is not readily scalable, which has led to congestion on its network leading to high transaction fees. This problem is quite crucial for Dvision Network, set to launch an NFT marketplace in 2021. Binance Smart Chain has emerged as an alternative to Ethereum and has attracted the crypto community since its launch in the second half of 2020. Binance Smart Chain is designed to be scalable and crucially offers low transaction fees with the same efficiency as Ethereum. BSC has overtaken Ethereum to become the largest ecosystem in the blockchain industry and outpaces its rival transaction volume. Also, BSC is compatible with the popular Ethereum Virtual Machine, making it easy to migrate projects from Ethereum to Binance. Several ethereum projects have begun to migrate to BSC. Dvision Network is seeking to expand its ecosystem with the migration to Binance Smart Chain. Dvision Network to Offer BEP-20 DVI Token One of the major ways that Dvision Network wants to leverage the Binance Smart Chain is by launching a BEP-20 version of DVI Token. The token will have similar functionality to the current ERC20 token and allow users to access features within the BSC ecosystem. DVI holders will be able to stake the BEP-20 tokens to earn yields and make swaps on popular BSC exchange PancakeSwap. The highly scalable nature of BSC means that Dvision can build Dapps and other products within a blockchain that has quick confirmation times and low transaction fees. BSC community will also be able to access a decentralized virtual reality world and enjoy the benefits of purchasing virtual space using the DVI BEP-20 Tokens. To further ensure interoperability between the two blockchain networks, Dvision Network has built a cross-chain bridge in cooperation with Curvegrid. The Bridge is built on Cuvergrid’s MultiBaas blockchain allowing smooth and convenient swaps of DVI from BEP20 to ERC20 and vice-versa. With this Bridge, it will be easy for DVI holders to swap their tokens between the blockchains to take advantage of features. The cross-chain Bridge is intuitive and allows anyone to swap between the two tokens within a few steps. More Developments for Dvision Network Dvision Network team is still working on a number of products that are expected to be launched during the Q2-Q3 2021. One of these products is the highly anticipated NFT exchange system expected to herald the development of NFTs on its platform. Dvision is regarded as one of the innovative blockchain platforms and recently auctioned a limited release of NFT characters. Its native token DVI has also been listed on top platforms like Bithumb and Coinone in recent months. The migration to the BSC ecosystem could prove to be a major game-changer for the platform in its quest for adoption. To learn more about Dvision Network visit the website. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Tether, the largest stablecoin by market cap, has reached a milestone by issuing 30 billion USDT on top of the Tron blockchain. While the stablecoin is now present on several chains, including BSC (Binance Smart Chain) most of it is now on Tron due to the blockchain’s low transaction fees, which make using it easy and cheap. Tether Reaches 30 Billion USDT Issued on Tron Tether, the biggest stablecoin in the market, has reached a volume of 30 billion USDT issued as TRC20 tokens on the Tron blockchain, being this the highest the stablecoin has issued on top of any chain so far. The announcement was made by Tron’s founder Justin Sun via Twitter, where he congratulated the company for reaching this milestone. 🎉Congrats on #TRC20–#USDT reaching the milestone of 30 Billion, as the best-performing stablecoin with immediate transactions and free handling fees on #TRON. 📢The circulation amount of #TRC20–#USDT issued by @Tether_to on the #TRON network exceeded 30.9 Billion. pic.twitter.com/HCabocSNPj — Justin Sun 🅣🌞 (@justinsuntron) May 13, 2021 Now, according to official information taken from Tether’s website, there are almost 60 billion USDT issued, with Tron as the dominant chain. Ethereum is now second, with approximately 27 billion USDT issued as ERC20 tokens. Omni, the bitcoin-based protocol, still has more than a billion USDT issued on top of it. While Tether has gone multichain since a long time ago, other chains haven’t picked up steam, being Solana the fourth one, with almost 200 million USDT issued. The issuance of Tether has ramped up since the bull market phase started, going from 10 billion USDT in August 2020 to almost 60 billion USDT today, according to data from Glassnode. This means that the quantity of Tether available in the market grew five times in less than a year, explosive growth for such a short period. The Not so Slow Migration Tether launched on Tron in April 2019, but it failed to gain notoriety until this year when it slowly took some of the market valuation from its Ethereum counterpart. Users were attracted to the Tron version of tether (USDT) due to its almost free, instant transactions. Ethereum started facing congestion issues this year, and users have had to wait hours for costly transactions. However, even with these problems, tether is still one of the most used currencies in decentralized finance (defi) platforms, with hundreds of million staked in protocols like COMP and AAVE. The dominance of tether in the cryptocurrency stablecoin market is impressive, even with all the legal troubles and the controversy it has faced. The currency was recently listed in Coinbase, a big achievement even after being fined $18.5 million by the NY Attorney General Office in a settlement in February. What do you think about Tether reaching 30 billion USDT issued on Tron? Let us know in the comments section below. View the full article

Binance, one of the largest cryptocurrency exchanges in the world, is now being probed by the Department of Justice (DOJ) under the assumption that it could be immersed in money laundering transactions. The investigation will also include inquiries from the Internal Revenue Service (IRS), which has been recently investigating a number of crypto trading platforms. Binance Probed by US Department of Justice Today, it was revealed that Binance, one of the most popular cryptocurrency exchanges in the world, is being the subject of an investigation related to transactions involving alleged money laundering, according to an article from Bloomberg. The U.S. Department of Justice (DOJ) will be making inquiries to people with knowledge on the inner workings of the company stealthily, due to the confidentiality of the probe. The inquiry will be bolstered by an investigation by Chainalysis, which states that more than $700 million of illicit funds have gone through the exchange. The IRS is also involved in the probe and will be investigating possible tax offenses involving the exchange and its customers. Binance is a global company that restricts access to U.S. citizens, allowing Americans to trade using its alternate platform Binance U.S. only. However, Changpeng Zhao, CEO of the exchange, has repeatedly stated his company doesn’t have headquarters because Bitcoin doesn’t have a headquarters. The market reacted very poorly to this news, with most of the top cryptocurrencies dumping prices down double digits. Bitcoin fell 10% after the news, continuing the negative run it experienced after Tesla announced it would stop accepting bitcoin (BTC) as payment for its vehicles due to environmental considerations. The Exchange Answers Binance reacted fast to this news and Jessica Jung, the firm’s spokeswoman responded. She stated: We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion. We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity. But this is not the first encounter that Binance has had with the U.S. justice system. The Commodity Futures Trading Commission (CFTC) is also probing the exchange to find out if it allowed U.S. citizens to trade unregistered derivatives that are under the jurisdiction of the institution. The CFTC investigation is also ongoing at the time of writing. Exchanges seem to be the next target of regulatory agencies. Executives at Bitmex, another important crypto derivatives exchange, were indicted with money laundering charges last year. What do you think about finance being probed by the DOJ? Tell us in the comments section down below. View the full article

After bitcoin prices took a hit following Tesla’s recent u-turn, Bitcoin’s mining difficulty jumped over 25 trillion, the highest the metric has seen during the protocol’s lifetime. The mining difficulty spike follows the recent 12% difficulty drop the network experienced two weeks ago. Bitcoin’s Mining Difficulty Jumps to 25 Trillion, Could Hit 30 Trillion in Two Weeks After some issues with the Xinjiang grid in China three weeks ago, the overall SHA256 hashrate used by the Bitcoin (BTC) network dropped considerably. This in turn caused the BTC network’s mining difficulty to drop 12.6% when the hashrate lowered. Essentially, BTC’s mining difficulty is the measurement of how difficult it is to find a hash below a given target. The more hashpower there is, then the more the difficulty increases, and when the hashrate lowers, the difficulty drops as well. The difficulty system Satoshi Nakamoto crafted is meant to keep equilibrium within the mining system and fairly consistent 10-minute block intervals. BTC Mining difficulty on May 13, 2021. On Wednesday, BTC’s mining difficulty jumped to 25.05 trillion and this metric is the highest the difficulty has ever been. This means it is harder than ever before to find a Bitcoin block and reap the coinbase rewards and fees. BTC’s hashrate has been chugging along much higher since the issues in China and on May 9, 2021, it tapped 214 exahash per second (EH/s). However, since the difficulty increased and the price dropped from Tesla’s announcement, hashrate has also dropped. ASIC Mining Rigs Still Profitable Under Current Elements, Antpool Takes the Hashrate Lead At the time of writing, the Bitcoin network hashrate is around 170 to 180 exahash per second according to daily onchain statistics. Further, in 13 days if the hashrate was to remain at current levels, another increase could happen. BTC’s network difficulty could jump to 30.30 trillion in less than two weeks’ time. Still, at current BTC prices and with the 25.05 trillion difficulty jump, most ASIC mining rigs are still profitable at $0.12 per kilowatt-hour (kWh). A 100 terahash ASIC mining rig still can get between $30 to $40 per day, with current difficulty metrics and $0.12 per kWh. On May 13, 2021, there are approximately 18 mining pools dedicating hashrate to the BTC chain. Interestingly, for months on end, F2pool was the top mining operation with the most hashrate, but Antpool has recently taken the lead. Poolin follows Antpool at the time of writing and F2pool is now the third-largest mining pool on Thursday afternoon. Bitcoin proponents and investors will be watching the hashrate and mining difficulty very closely, as many believe that the hashrate follows BTC’s price and vice versa. What do you think about the recent mining difficulty spike on Wednesday? Let us know what you think about this subject in the comments section below. View the full article

Nasdaq-listed Microstrategy has bought the dip and purchased $15 million more bitcoins, taking advantage of the falling price for the cryptocurrency after Tesla CEO Elon Musk revealed that his company has suspended accepting bitcoin for payment. Microstrategy now holds about 91,850 bitcoins. Microstrategy announced Thursday that it has purchased $15 million more in bitcoin. CEO Michael Saylor tweeted: Microstrategy has purchased an additional 271 bitcoins for $15.0 million in cash at an average price of ~$55,387 per bitcoin. In the company’s filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy declared that as of May 13, the company holds about 91,850 bitcoins that it acquired for approximately $2.241 billion at an average price of about 24,403 per bitcoin. The price of bitcoin is currently $50,250 based on data from markets.Bitcoin.com. It plummeted Wednesday evening to a low of $45,700 but regained some of the losses after Elon Musk announced that Tesla has suspended accepting bitcoin payments. What do you think about Microstrategy loading up more bitcoin? Let us know in the comments section below. View the full article

Facebook-backed cryptocurrency project Diem, formerly Libra, is moving from Switzerland to the U.S. In collaboration with Silvergate Bank, the association, which oversees the development of the diem cryptocurrency, has unveiled a new launch plan. Facebook-Backed Stablecoin Has New Launch Plan The Diem Association announced Wednesday a partnership between Diem Networks U.S. and Silvergate Capital Corporation (NYSE: SI). Silvergate is a California state-chartered bank and a member of the Federal Reserve. Diem Networks U.S. is a wholly-owned subsidiary of the association. It plans to register as a money services business with the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). The 26-members association explained that “Under this partnership, Silvergate Bank (‘Silvergate’) will become the exclusive issuer of the diem USD stablecoin and will manage the Diem USD reserve,” adding: The Association is also announcing a strategic shift to the United States, resulting in a move of diem’s primary operations from Switzerland to the United States. Diem Networks U.S. will run the Diem Payment Network (DPN), a permissioned blockchain-based payment system that facilitates the real-time transfer of Diem stablecoins among approved network participants, the announcement details. The project has the backing of social media giant Facebook. The DPN “will be accessible to anyone with an entry-level smartphone and data connectivity,” the association’s website details, adding that “Diem Coins are backed by a reserve of assets made up of cash or cash equivalents and very short-term government securities.” Silvergate CEO Alan Lane commented: We believe in the future of U.S. dollar backed stablecoins and their potential to transform existing payment systems. The Diem association emphasized that the project will operate fully within the U.S. regulatory perimeter so it no longer requires a license from the Swiss Financial Markets Authority (FINMA). Therefore, its application for a payment system license from the agency will be withdrawn. What do you think about the Diem project moving from Switzerland to the U.S.? Let us know in the comments section below. View the full article

Nano, a relatively obscure cryptocurrency, managed to catch the spotlight yesterday due to its singular transactional proposal. But, what is Nano really, and why did the token manage to skyrocket more than 60% in just a few hours? Nano and Its Fee-Free Approach Nano, a fairly unknown cryptocurrency for people not directly related to the crypto world, that features a fee-free transactional method, managed to catch the spotlight yesterday. Nano’s price raised more than 60% in just a few hours, surprising investors who normally don’t take it as a particularly important currency for speculating. But what is nano (NANO) and why it experienced this price intense fluctuation? Nano is a cryptocurrency created in 2015 by Colin Lemahieu, that has its own blockchain structure called “block-lattice,” where each wallet has its own blockchain, constituted by the ledger of transactions. However, blocks are not mined, because Nano uses proof-of-stake (PoS) as a consensus algorithm, and transactions are resolved via delegated voting. Unlike most of the PoS-based cryptocurrencies out there, the distribution of nano was made online. People could receive it by just solving a captcha on a web page, which made it relatively popular for newcomers in 2017. Due to its nature, nano transactions don’t pay mining fees, and the system is optimized to run in low-end computing equipment. Why Is Nano Pumping? Nano proponents have always raved about the ecological character of their favorite cryptocurrency and how it is very light on the environment. The whole network spends a negligible amount of energy to work, unlike its proof-of-work-based counterparts. But this had fallen on deaf ears, at least until yesterday when Tesla announced it was withdrawing bitcoin (BTC) as a payment method citing environmental issues. Elon Musk doubled down on the subject today, tweeting a graphic that shows the enormous energy consumption spike that the Bitcoin network has experienced since its inception. But, more importantly, the company declared it was looking for other cryptocurrencies that use less than 1% of Bitcoin’s energy per transaction. While no one really knows what this means, the market surely took it as a signal that a cryptocurrency like nano, which has always promoted its green and ecologic premise, could be favored in the short run by the company. Some speculators considered it could be chosen as a possible replacement for bitcoin as the preferred crypto alternative to pay for Tesla vehicles. This sent nano prices through the roof, going from eight dollars to more than $17 after the announcement. Since then, however, nano prices have dropped a few percentages. If the narrative changes and the ecologic PoV manages to take the center stage, nano (NANO) and other proof of stake-based currencies could grow even more. What do you think about the recent Nano price pump? Let us know in the comments section below. View the full article

The U.S. Securities and Exchange Commission (SEC) has brought 75 enforcement actions against companies and individuals in the crypto industry so far, according to a new report by Cornerstone Research. The agency also brought 19 trading suspension orders against digital asset market participants, and 43 were litigated in U.S. district courts. 75 Crypto Enforcement Actions by SEC Cornerstone Research published a report entitled “SEC Cryptocurrency Enforcement” on Tuesday. The report analyzes 75 crypto-related enforcement actions brought by the SEC starting with the first one in July 2013 to Dec. 31, 2020. It found: During that time, the SEC brought a total of 75 enforcement actions and 19 trading suspension orders against digital asset market participants. Besides the 75 enforcement actions, the SEC also brought a number of subpoenas and follow-on administrative proceedings on crypto companies and individuals. The first enforcement action was in July 2013 against Trendon T. Shavers and his company. “Of the 75 enforcement actions, 43 were litigated in U.S. district courts, and 32 were resolved within the SEC as administrative proceedings,” the report describes. “Of all enforcement actions, 21 administrative proceedings and 31 litigations alleged an unregistered securities offering violation.” As for initial coin offerings (ICOs), the report states that “Among these alleged violations under Sections 5(a) and 5(c) of the Securities Act, 39 actions were related to ICOs, which represent 52% of all enforcement actions.” The report details that out of the 75 crypto-related enforcement actions, “allegations of fraud and unregistered securities offerings were the most frequent.” There were 39 enforcement actions (52%) that contained an allegation of fraud. “In 52 (69%) of the 75 enforcement actions, the allegation was an unregistered securities offering violation under Sections 5(a) and 5(c) of the Securities Act,” the report notes, adding that “In 28 actions (37%), the violation of an unregistered securities offering was alleged in combination with a fraud allegation.” The entire report can be found here. What do you think about all these enforcement actions against crypto firms taken by the SEC? Let us know in the comments section below. View the full article

Beyond expanding the reach of blockchains’ functionality, projects are striving to improve upon existing technologies with their capital injections to build a more safe, secure, and seamless user experience that will drive the next generation of products and services. Moma Protocol Receives $2.25 Million to Pursue Infinite Liquidity As the number of different decentralized finance (defi) lending protocols explodes, Moma Protocol aims to help the ecosystem scale infinitely by bringing aggregating liquidity and markets through its smart contract factory. Part of this undertaking is designed to bring more liquidity to long-tail digital assets and expand the defi ecosystem’s overall appeal. The latest $2.25 raised by Moma Protocol was led by Fundamental Labs and Sevenx Ventures and joined by 17 other major investors in the blockchain arena. The company intends to leverage these funds to help facilitate infinite expanded liquidity and lending diversity in the defi space. The protocol will officially be launched during the second quarter of 2021, with a beta version currently live. Metis Lands $4 Million to Launch Layer 2 Solution As the demand for blockchain scalability and cost-efficiency rises further, Metis is stepping up to the challenge with its layer 2 solution known as Metis Rollup. The new layer will enable the development and management of decentralized apps (dapp), especially defi-focused applications, in an environment that is designed to be exceptionally user-friendly and low-cost. The latest $4 million raised from a consortium of investors including AU21, Block Dream Fund, DFG, Master Ventures, Parsiq, Titan Ventures, community supporters, and many more follows $1 million in funding realized to date through initial seed, angel, and private investors. Metis will initiate an initial DEX offering (IDO) via the IGNITION Launchpad and Gate.io starting May 13th. QAN Platform Raises $2.1 Million to Develop and Promote its IP Infrastructure continues to be a serious attraction for investors as QAN Platform’s quantum-resistant hybrid blockchain closes a $2.1 million funding round from Black Dragon, Delta Hub Capital, Fairum Ventures, and Insignius Capital. Investors were selected based on their community-driven focus, which remains a key value supported by QAN Platform’s leadership. QAN Platform aims to make blockchain technologies more accessible for developers delivering proofs of concept and minimum viable products by emphasizing security, rapid cloud platform deployment, a planned launch of multi-language smart contract development, and its proof-of-randomness (PoR) algorithm. The platform’s native token will be listed on Uniswap starting May 21st. Shield Finance Closes $780K to De-Risk Defi With Insurance Defi continues to attract a surge in participation from crypto enthusiasts and investors alike, yet holes in the ecosystem have caused investor losses. Between rug pulls, exploits, and hacks, many risks can capsize a defi portfolio. Shield Finance intends to address these risks through its forthcoming insurance aggregation platform. After meeting its $780,000 funding hard cap from a group of investors including DAO Maker, GD10 Ventures, Master Ventures, NGC Ventures, PAID Network, Spark Digital Capital, Titan Ventures, and Zokyo, Shield Finance is preparing to launch its platform via IDO. The platform’s two-pronged approach intends to make defi insurance much cheaper and accessible for chains that currently include Ethereum, Polkadot, Binance Smart Chain, and Solana. Bitrue Unveils $50 Million Investment Fund Crypto financial services platform Bitrue is rolling out a freshly conceived investment fund to help entrepreneurs and projects seeking the capital needed to realize their goals. The capital will primarily be aimed at initiatives with immense potential to advance the overall blockchain industry, in keeping with the company’s mission to rapidly develop new features needed to provide services to the growing digital economy. The fund, which is 70% backed by USD Tether (USDT) and 30% backed by Bitrue Coin (BTR), will be accepting pitches from projects alongside nominations from their own community. Moreover, the exchange and financial services platform will also be independently pursuing projects that fit with its mandate. Applications for the fund’s capital will be open for the next three years. JUR Collects $1 Million Seed Round From Draper Associates As blockchain seeks to disrupt the multi-billion dollar arbitration industry, one company has already attracted the attention of one of the ecosystem’s most famed investors. Jur, which aims to launch a blockchain-based arbitration platform, has just landed a $1 million fundraising round from Tim Draper’s seed fund ahead of a planned public beta launch scheduled for this summer. The initiative will focus primarily on commercial and civil disputes ranging from $5000 to $1.5 million. Besides the tapping into an area most arbitrators ignore, Jur aspires to shorten the settlement timeline from an average of 600 days to just 2-3 months, helping parties save immensely on costs. Moreover, by standardizing arbitration settlements according to the UN’s New York Convention, Jur can offer its services in 168 signatory countries, removing many of the geographic restrictions preventing more widespread service coverage. Jenny Hauls In $7 Million to Support DAO’s NFT Collection As NFT enthusiasm steadily climbs, one decentralized autonomous organization (DAO) is taking shared ownership of these non-fungible collections to a whole new level. Just ahead of its planned token launch on Unicly beginning May 13th, community-controlled Metaverse DAO Jenny has successfully added another $7 million in capital. The latest round was led by Ascensive Assets, Animoca Brands, Metapurse, and Multicoin. Jenny will leverage the funds to fractionalize collections of NFTs, and the accompanying community may vote to undergo liquidity events, with proceeds going to a multisignature DAO address to be allocated according to community decisions. Already, 70% of proceeds from existing Jenny token sales have been allotted to acquiring NFTs. The Unicly protocol’s smart contracts will be used to store the NFTs, before being released when the DAO votes to sell or resell works to other parties. Investors Allocate $1.9 Million to the Dapp List As blockchain advocates try and eliminate the nefarious actors and initiatives that result in rug pulls and other scams, The Dapp List is attempting to remedy this reality with a module that will empower the community to curate Web3 apps by listing or delisting projects. This planned system will be based on a system of checks and balances accomplished by dividing the community into hunters and voters through the platform’s Explore module. Fresh off a successful $1.9 million capital raise from a group of investors, including Bitscale Capital, BR Capital, CMS Holdings, Double Peak, Gen Block, LD Capital, and SL2 Capita, the multi-chain ecosystem will allocate these funds towards ecosystem development. Moreover, The Dapp List aims to attract high-quality developers and communities to the ecosystem through the BUIDL module, helping the platform position itself as an effective Web3 adoption hub. Do you think all this money injected into the “blockchain space” will contribute to wider adoption of the technology beyond crypto? Let us know in the comments section below. View the full article

Cross border remittances into Zimbabwe surged to $1 billion in 2020, more than a 36% increase from the $636m that was recorded in 2019. This surge in remittances occurred despite the “steep decline in economic activity in host countries, which in turn made it difficult for migrants in the diaspora to send money home.” Effects of Pandemic on Remittances According to a report, this increase only applies to money transfers sent via formal channels. The same report also attributes the surge to the mobility restrictions that were imposed in response to the spread of the Covid-19 pandemic. The report said: The surge in remittance inflows could be a result of many Zimbabweans in nearby countries, such as South Africa, Malawi and Botswana, shifting to formal money-transfer channels owing to the effect of the coronavirus (Covid-19) pandemic, as travel across international borders was curtailed for much of 2020. Before the imposition of lockdowns, Zimbabweans working abroad would resort to informal remittances channels such as cross border buses, truck haulage trucks, and private couriers when sending money home. However, the closure of border entry points at the start of Q2 of 2020 forced migrants to return to traditional sending channels. Informal Channels Cheaper The report also explains why Zimbabweans and other African migrants use informal remittance channels despite these being prone to theft or fraud. According to the report, migrants preferred informal channels because the “service fees (charged) were usually lower than those imposed by the official money-transfer agencies (therefore) making these informal channels more appealing to the diaspora.” As previously reported by Bitcoin.com News, Zimbabwe is located within a region that has the highest money transfer costs globally and this may partly explain why informal channels are still popular. Meanwhile, also gaining popularity are remittances channels that use cryptocurrency rails. For instance, some Zimbabweans working in South Africa resorted to using BTC when sending money during the lockdown period. Referring to this use of informal or alternative channels by migrants, the report concludes that Zimbabwe’s “headline figure of higher remittance inflows in 2020 could be a misleading representation of the true picture.” In fact, the report suggests that “actual remittances inflows probably declined from the levels of previous years, owing to the fallout of the pandemic.” Do you agree that informal remittances into Zimbabwe could be higher than formal ones? Tell us what you think in the comments section below. View the full article

A crypto stealer seems to have spread through a massive spam campaign across several countries, including the United States, Australia, Japan, and Germany. The malware dubbed “Panda Stealer” has been spotted by a cybersecurity company. It is reportedly also distributed on Discord channels. Malware Can Also Steal Data From Telegram and Discord Apps According to the report published by Trend Micro, the stealer is a variant of another malware named “Collector Stealer,” which utilizes the same algorithms to bypass most detection tools. The malware is contained within a malicious Excel file in a .xlsm format. Once the victim executes a series of Powershell scripts in the infected document, Panda Stealer deploys its malicious processes. It collects sensitive crypto-related data, including private keys and records of past transactions performed with wallets from virtual currencies like dash (DASH), litecoin (LTC), ethereum (ETH). Researchers from Trend Micro provided further technical details on the malware’s similarities with other ones: Panda Stealer was found to be a variant of Collector Stealer, which has been sold on some underground forums and a Telegram channel. Collector Stealer has since been cracked by a Russian threat actor called NCP, also known as su1c1de. (…) Like Panda Stealer, Collector Stealer exfiltrates information like cookies, login data, and web data from a compromised computer, storing them in an SQLite3 database. It also covers its tracks by deleting its stolen files and activity logs after its execution. But the stealer is not limited to catching digital asset-related data from victims. In fact, the study revealed that it has the technical capabilities to steal credentials from Telegram, Nordvpn, and Discord, among others. Moreover, Panda Stealer can take screenshots from the users’ computers and catch encrypted data in browsers, such as credit card information. Recent Crypto Malware Stealers Spotted Bitcoin.com News has reported the surge of crypto-malware over the past few months. Recently, a cryptocurrency-related malware program named “Westeal” has been advertised on darknet forums as the “leading way to make money in 2021,” raising alarms among the cybersecurity community. The system has the resources to steal bitcoin (BTC) and ethereum, but the malicious code works under a subscription model. What do you think about the study revealed by the cybersecurity firm? Let us know in the comments section below. View the full article

PRESS RELEASE. Newly-launched decentralized gaming platform, VulcanVerse, offers $20m giveaway as volume on its in-game marketplace triples. Cardiff, United Kingdom – Decentralized gaming platform, VulcanVerse is launching into the online gaming world, with record growth in users following a successful token sale. The gaming platform is positioning itself as a pioneer in NFT-based gaming, an area that has recently seen a huge surge in interest as a result of the wider NFT-mania that permeated the cryptocurrency market earlier this year. VulcanVerse expects to capitalize by converting this newly-found interest in online gaming into increased adoption for its own unique virtual world. With that aim, VulcanForged, the project behind VulcanVerse, has made several integrations with other blockchain-based platforms, including Polygon (formerly Matic), to broaden its reach. The team recently completed a sale for the platform’s native token, PYR, aimed at stimulating activity in its in-world marketplace. VulcanVerse wants to establish itself as a leader in decentralized gaming. VulcanVerse In Demand Indeed, both have increased demand for VulcanVerse’s fantasy platform. PYR completed a successful token sale just over three weeks ago which led to a threefold increase in the volume from $5 million to $15 million on the platform’s marketplace, Vulcan Marketplace. The marketplace, which allows users to trade NFTs used in the fantasy game, is now one of the top five NFT marketplaces in the cryptocurrency space as a whole. As well as acting as the native currency for the Vulcan Marketplace, PYR is also a utility token that can be used for staking, fee settlements, DeFi game launchpads, platform pools, and play-to-earn benefits as well as discounts for items on the Vulcan Marketplace. PYR is now available on Uniswap and Quickswap DEX. In addition to sound economic performance, both for PYR and the platform’s own marketplace, VulcanVerse’s team has been pushing ahead with a number of integrations to sure up the platform’s infrastructure, as well as attract new users. The team has partnered with several leading blockchain platforms, Arkane Network and Polygon. The most recent Polygon partnership sees PYR launched on the Polygon network via an adapted version of the network’s Plasma feature, a layer two solution that aims to fix Ethereum’s scalability issues. The objective is to ensure VulcanVerse’s infrastructure can handle any increased output generated by an expected influx of users as the game expands as well as gain support from more established projects. In a bid to incentivize even more growth, the VulcanVerse team is conducting a $20m PYR giveaway, the details of which can be found here. Navigating the VulcanVerse As well as good macro-performance, VulcanVerse’s gaming world is a carefully scripted and rich environment itself. Land is integral to the in-world gameplay, with users able to buy plots of 20×20 square meters to build on or sell later at a higher price. Although new users can explore the universe without owning land, certain features of play are only available to landowners in order to encourage the evolution of the environment through building. Each plot of and the tools used to build on land are associated with specific “levels” all themed after Greek mythology. Users unlock these levels in gameplay, with each new level producing higher-value land and a more complex set of building tools. As well as land, the VulcanVerse hosts NFT-based creatures called Vulcanites. Each Vulcanite is unique, has a tailored lore and set of skills that can be upgraded. They can be used to forage materials, compete for exclusive NFTs during treasure hunts or participate in community-led mini-games and side-quests. To balance world-building and interactivity, they provide benefits for their owners and help them level up but cannot be used to negatively affect others (e.g. they cannot attack players unless it’s part of an event). Vulcanites can be traded as 2d game cards on the VulcanMarketplace where users can browse other users’ Vulcanite stats. About VulcanVerse VulcanVerse is a virtual world set in the Greco-Roman era. It is a stand-alone game that uses blockchain technology to enable users to truly own their land and assets. Its detailed lore is written by the authors of Fighting Fantasy, a series of successful single-player role-playing gamebooks created by Steve Jackson and Ian Livingstone. Additionally, the virtual world boasts complex gaming tools and multiplayer game-playing functionalities. VulcanVerse is blockchain-based, with key items in the virtual world existing as NFTs on a purpose-built blockchain. Its virtual world can be accessed via a downloadable application that recently became available on Google’s Play Store. The team behind the virtual world consists of a number of veteran online gaming developers and enthusiasts, selected from a wide cross-section of gaming companies including Vulcan Forged, Serv Reality, Spark Labs, and Fabled Lands Ltd. For more information on how to become part of the VulcanVerse, visit their website here. Follow VulcanVerse on Twitter Join the VulcanVerse community on Telegram Like VulcanVerse on Facebook Stay up to date via VulcanVerse’s Discord Learn more about the virtual universe on VulcanWiki VULCANVERSE is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 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

The central bank of Israel has offered a glance at what a digitalized version of the national fiat currency may look like. According to a released “draft model” of the coin, Israelis should be able to use the digital shekel in payments, even offline, and convert it to cash at any moment. The Israeli central bank digital currency (CBDC) will provide some privacy, but not anonymity. This Is What the Digital Shekel Should Look Like The Bank of Israel is getting ready to jump on the CBDC bandwagon with a plan to issue a digital currency of its own, after examining the issue for years. Dozens of central banks around the world are already working on similar projects in response to developments in the payments market, not least related to the growth and the spread of cryptocurrencies. The final decision is yet to be made, according to a report by the bank’s Steering Committee, but the project is already taking shape. The published draft opens the door for public discussions and suggestions. At this stage, the central bank’s intention is to create a “digital commitment” on its behalf, similar to the “physical commitment” it has towards the public in the form of banknotes and coins. Cash is different from commercial bank money, or the money stored in bank accounts and used in transfers and cards. The latter is recorded digitally and represents an obligation on the part of a commercial bank to its customers, not the central bank, business news outlet Calcalist noted in a relevant article. Israel’s CBDC will be digital too, but its concept differs from that of commercial bank money. The “digital shekel” will be a form of electronic cash, representing a digital commitment by the Bank of Israel towards the country’s citizens. According to the document, Israelis will be able to convert the digital currency to actual paper cash and commercial bank money at any time and its transactions will not necessarily require connection to the internet. This Is How the Bank of Israel Coin Would Work The payment infrastructure of the digital shekel will function similarly to existing digital wallets and payment apps. According to the plan, Bank of Israel will launch the CBDC and transfer it to payment service providers such as banks, credit card issuers, fintechs, and even large high tech companies who will in their turn provide the digital shekels to their customers. However, these entities will not be allowed to lend in the digital currency. The central bank is yet to decide whether to employ a centralized model to issue its digital currency or use a decentralized system, one that relies on distributed ledger technologies (DLT). In any case, an important distinction from cryptocurrencies is that although the digital shekel will ensure a certain level of privacy for its users, its transactions will not be anonymous. The government actually hopes that the digital coin will help to reduce the use of paper cash and shrink the shadow economy. Bank of Israel noted: While central banks may use DLT such as blockchain when designing and establishing CBDC systems, there are essential differences between a CBDC and cryptocurrencies such as bitcoin. The Bank of Israel Steering Committee has also outlined several key benefits the digital shekel could bring to the Israeli economy. Its members believe that the coin will provide an advanced and secure alternative that will be up and running even during emergencies or breakdowns. It will also ensure that the country’s payment system adapts to the needs of the digital economy and create an efficient and inexpensive infrastructure for cross-border payments as well. What do you think about Israel’s plan to launch a digital shekel? Share your thoughts on the subject in the comments section below. View the full article

Bitcoin Cash Argentina, a nonprofit organization whose objective is to promote the use of Bitcoin Cash, has started a flipstarter campaign that seeks to raise funds to explain the use cases of this cryptocurrency in the country and boost its adoption. Argentina’s economy has been severely affected by inflation and devaluation, the reason why interest in cryptocurrencies and how these can be used is growing fast. Bitcoin Cash Argentina Raising Funds to Boost BCH Adoption in the Country Bitcoin Cash Argentina, an organization that deals with promoting the use and adoption of the said cryptocurrency in the country, is now raising funds to further increase their reach and boost adoption through a series of activities. The fundraising is being conducted through Flipstarter, a BCH-specific tool that allows anyone to collect funds for a determined objective. The funds won’t be released until a certain goal is reached. While Bitcoin Cash Argentina started just six months ago, it has managed to grow as a team capable of organizing meetups and onboarding merchants, growing the Bitcoin Cash user base significantly. According to its Flipstarter PR statement, the team was keen on doing this to show the community what they could do, to fundraise then with a proven record. Help us make the original Bitcoin (BCH) great again in Argentina!https://t.co/Z4bK104xq5#BitcoinCashArgentina #BitcoinCash #BCH — Bitcoin Cash Argentina (@BCHArgentina) May 10, 2021 And it managed to do so. Bitcoin Cash Argentina’s first goal proposed to onboard 50 merchants in the country with self-provided funds. This goal was partially met, with 45 merchants onboarded between March and May. The team also hosts monthly meetups where they explain how Bitcoin Cash works to new users and the benefits of using it on a daily basis. If its campaign succeeds, BCH Argentina plans to ramp up its activities, expanding its first phase goal to reach 100 merchants onboarded. Part of these funds would be donated to users who would have the experience of spending them on local merchants. This would encourage the creation of a circular economy. The campaign has been well received by the community, reaching more than 80% of the goal with 12 days still left to be completed. Key members of the community like Roger Ver and Marc De Mesel have already chipped in substantially, adding to the legitimacy of the project. Argentina’s Crypto Journey Argentina is a country that’s relatively new to the cryptocurrency scene. Interest in cryptocurrencies started booming just recently, due to the economic hardships the country has faced. The currency exchange control was one of the main reasons for Argentinians to seek an alternative to the U.S dollar. Citizens accustomed to changing their wages and savings to dollars were now unable to do so due to these controls. Now, hit with Covid-19 related problems, and fighting inflation rates of 50% annually, Argentina is a hotbed for cryptocurrency adoption. Key exchanges like Ripio and Bitso have reached record levels of users, and this trend is unlikely to change in the short term. What do you think about Bitcoin Cash Argentina’s flipstarter campaign? Let us know in the comments section below. View the full article

On Wednesday, Ethereum’s Vitalik Buterin took control of his stack of Shiba Inu, a dogecoin ERC20 token, and donated more than 1 billion dollars worth of the currency to India’s Crypto Covid Relief Fund. The fund is an initiative that seeks to help people suffering from the covid-19 outbreak that India is experiencing right now. Buterin also sold Akita and Dogelon, other similar currencies, causing a slide in market prices. Vitalik Buterin Donates $1 Billion Worth of Shiba Inu Tokens to India’s Crypto Covid Relief Fund Vitalik Buterin, the popular founder of Ethereum, started selling some of the meme coins that were sent to him by some projects, donating 10% of his Shiba Inu stack to India’s Crypto Covid Relief Fund. These dogecoin ERC20 tokens were given to him to “burn” them, under the assumption he wouldn’t touch them or sell them. However, against all popular belief, Buterin decided to put these funds to good use. The transaction of Shiba Inu tokens worth more than a billion dollars today to the aforementioned Covid Fund, which was founded by Sandeep Nailwal, co-founder of Polygon, a second layer protocol for Ethereum. However, this is not the first donation Buterin makes to this particular fund. Five days ago, Buterin also donated three million dollars in dogecoin (DOGE) to this same charity. (Transparency Update) We thank @VitalikButerin for his donation of 50,693,552,078,053 SHIBA to @CryptoRelief_ . We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals. We have decided to convert the donation slowly over a period of time. (1/x) — India's Crypto Covid Relief Fund 🇮🇳 (@CryptoRelief_) May 12, 2021 This is one of the biggest donations made by any cryptocurrency personality to help people affected by the Covid-19 pandemic, dwarfing the donations of Justin Sun and Balaji Srinivasan who also contributed to the cause. But not all were happy with this news: Shiba Inu prices slid after the fact, with members of the community stating this was a low blow to retail buyers, and others calling it a rug pull. Other Charities Also Received Donations But Buterin didn’t stop there: he also proceeded to dump other meme coins to donate more money to other charities. According to his transactions record on Etherscan, Buterin donated almost 14,000 Ether to Givewell, a non-profit institution that rates charities and distributes donations based on its rank. Vitalik also gave important contributions to Gitcoin, an organization that funds open-source software projects, and to the Machine Intelligence Research Institute. After Buterin sold most of these currencies and made the donations, his personal wallet address was flooded with incoming transactions of other meme coins, a sign that shows this new way of launching currencies is far from over. What do you think about Vitalik Buterin dumping these meme coins to make donations? Let us know in the comments section below. View the full article

Tesla has suspended accepting bitcoin for vehicle purchases, CEO Elon Musk has announced. The company cited concerns “about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.” Tesla Stops Accepting Bitcoin Tesla CEO Elon Musk announced on Twitter Wednesday that his electric car company has suspended accepting bitcoin for vehicle purchases. The message reads: Tesla has suspended vehicle purchases using bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. The notice continues: “Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at great cost to the Environment. Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use less than 1% of Bitcoin’s energy/transaction.” Tesla began accepting bitcoin in March after the company revealed its bitcoin holdings in a filing with the U.S. Securities and Exchange Commission (SEC) earlier this year. Musk has also changed his official title from CEO to Technoking of Tesla. In its Q1 filing, Tesla revealed that its bitcoin holdings had grown to $2.5 billion after the company “sold 10% of its holdings essentially to prove liquidity of bitcoin as an alternative to holding cash on balance sheet,” explained Musk. Meanwhile, Musk put a poll on Twitter Monday asking his followers if Tesla should accept dogecoin. 78.2% said yes. What do you think about Tesla’s bitcoin announcement? Let us know in the comments section below. View the full article

A European country in the Balkans region could start regulating the crypto environment within its territory. A bill is being drafted in Bosnia and Herzegovina that would establish a regulatory framework for cryptocurrencies for the first time in the country’s history. Bill Aims to ‘Attract Entrepreneurs’ to the Country According to Klix, the Union for a Better Future (SBB) of Bosnia and Herzegovina (BiH), a Bosniak political party, is set to draft a crypto bill after forming a group to research “technological, economic progress, and market modernization.” The plan includes digital asset development, and thus, crypto-related rules are required to make it possible. The report states that Vedad Mešanović, a local financial expert, will lead the drafting of the bill. Mešanović – who was recently included in the Forbes list of the 30 most influential people under the age of 30 – stressed the need to regulate the virtual currency sphere in Bosnia and Herzegovina, as state laws “do not follow the development of the cryptocurrency market” across the board. He added: My job will be to prepare a draft of this law, to work out the details so that we can best bring a large number of companies and entrepreneurs here who would pay taxes here, that is, to create a good environment. With this draft, SBB’s job will be to use its strength to propose that law and to vote. Croatia and Serbia Used as a Reference for the Crypto Bill Per the report, the draft bill will also consider some regulations enacted in Serbia and Croatia. Of particular interest are those that regulate crypto miners and traders, who are required to pay taxes on capital gains, plus a city-specific surtax. There is no timeline on when the bill will be discussed and the question is whether state parliamentarians will be ready to take a step forward to regulate the crypto industry, said the financial expert. Moreover, the Banking Agency of the Federation of Bosnia and Herzegovina, a state agency responsible for domestic bank regulations, said: The use and operation of cryptocurrencies are not regulated by the current legislation in the Federation of BiH. The issue of the use of digital money and cryptocurrencies is a special challenge in other regulated financial systems, except in cases where central banks issue cryptocurrencies. What are your thoughts on the upcoming cryptocurrency regulation in Bosnia and Herzegovina? Let us know in the comments section below. View the full article

The government in Budapest has put forward measures aimed at streamlining taxation and reducing the tax burden on businesses and citizens. As part of the package, Hungary plans to cut the tax levied on capital gains from cryptocurrency transactions, expecting to increase budget revenue with the move. Tax Cut to Attract Cryptocurrency Traders to Hungary Hungarians now pay 30.5% on profits made from cryptocurrency transactions, but their government wants to reduce the tax rate to 15%. The primary goal is to minimize tax evasion, but the lower tax rate could also attract more crypto traders and investors to country. The Hungarian government believes this will generate “several billion forints” in additional budget receipts. The crypto tax cut was announced in a video address posted by Hungary’s Finance Minister Mihály Varga on Facebook, along with other steps to kick start the country’s economy following the Covid-19 crisis. The measures will soon be proposed to Hungarian lawmakers. If the new legislation is approved by the parliament, the changes will take effect in 2022. Budapest Takes Steps to Relaunch Economy After Pandemic Varga also revealed that the government wants to reduce the payroll tax to 15% from next July, Daily News Hungary reported. It currently stands at 15.5% but employers are also obliged to contribute a fixed share of payroll, 1.5%, to a training fund. The vocational training contribution will be added to the payroll tax, the minister explained, and then the rate will be dropped by two percentage points. The adjustment should save businesses 250 billion forints annually (around €698 million). The new tax policies could also affect 70,000 sole proprietors in Hungary as the legislation would make it easier for them to opt for flat-rate or lump-sum tax forms. Under the new eligibility thresholds – ten times the annual minimum wage (50 times for retail activities) – they will get an exemption from their personal income tax of up to a half of the minimum wage. Another important proposal is to do away with the sectoral tax that capital fund managers and stock exchanges are required to pay now. Starting from next year, the tax cut is expected to support market participants who are actively involved in the efforts to relaunch the Hungarian economy after the pandemic. Another step aiming to reduce overhead costs is to allow energy suppliers to deduct losses from their pre-tax profit for the next five tax years. What’s your opinion on the proposed tax cuts in Hungary? Share your views on the subject in the comments section below. View the full article

Moneygram will start letting customers buy and sell bitcoin at 12,000 locations, thanks to a partnership with Coinme. The collaboration “will bring bitcoin to thousands of new point-of-sale locations in the U.S. with plans to expand to select international markets in the second half of 2021,” the companies say. Bitcoin at Moneygram Locations Moneygram International Inc. and Coinme, a licensed crypto-to-cash exchange in the U.S., announced Wednesday the “launch of a new partnership to enable the cash funding and payout of digital currency purchases and sales.” A global leader in cross-border P2P payments and money transfers, Moneygram serves nearly 150 million people across the globe over the last five years. Coinme is a crypto exchange and ATM operator that currently powers over 20,000 physical locations to buy and sell bitcoin using cash through partnerships with Coinstar and Moneygram. The collaboration “will bring bitcoin to thousands of new point-of-sale locations in the U.S., with plans to expand to select international markets in the second half of 2021,” the companies detailed. The new service will create “global cash on and off-ramps” to “ensure access to bitcoin.” According to the announcement: The Moneygram and Coinme integration will provide a fast and easy way for customers to purchase bitcoin with cash and withdraw bitcoin holdings in cash. Initially, the service will be available at select Moneygram locations in the U.S. in the coming weeks. However, the companies plan to add more countries and cryptocurrencies shortly thereafter. According to Coinme’s website, the service is “available at 12,000 Moneygram locations.” Bitcoin buying and selling are available at 12,000 Moneygram locations. Source: Coinme The companies noted that the new service “is specially designed for customers who may be interested in utilizing bitcoin for the first time.” Alex Holmes, Moneygram’s CEO, opined: This innovative partnership opens our business to an entirely new customer segment as we are the first to pioneer a crypto-to-cash model by building a bridge with Coinme to connect bitcoin to local fiat currency. What do you think about Moneygram’s new bitcoin service? Let us know in the comments section below. View the full article

Last week, ethereum options volume surpassed bitcoin’s for the first time on the digital currency derivatives exchange Deribit. Further, the trading platform recently introduced a $50k ETH strike for March 2022 and explained the $50k call is “gaining immediate buy traction.” Ethereum Options Volume Grows Exponentially, $50K Strike Flexes Muscle When it comes to bitcoin (BTC) derivatives, the trading platform Deribit captures the lion’s share of today’s options volume. The cryptocurrency exchange also features bitcoin futures and ethereum options as well. During the first week of May, Deribit’s ethereum (ETH) options surpassed bitcoin (BTC) options for the first time. Skew analytics data shows while BTC had $880 million on May 3, ETH options saw $1.3 billion. The volume continued that week as the analytics company Skew tweeted about the staggering ETH options volume last Thursday. “Ether markets seeing record activity this week across spot, futures and options,” the analytics firm tweeted. “Options traders’ anticipations of ether volatility relative to bitcoin are rising,” Skew added the next day. On May 10, the crypto derivatives exchange Deribit said: “ETH Option flows now dominating BTC. And not just Fast money.” During the last six months, Deribit has captured the largest number of BTC and ETH options in terms of volume and open interest. “Action across maturities, with Deribit listing the ETH Mar22 50k Call (really!), gaining immediate buy traction. In general, Calls rolled up to keep/add exposure; decent 2-way Put action, but few reducing upside,” Deribit added. Institutional Investors Fueling Ethereum Markets, $5K Strikes See Build-Up Since ethereum has recently obtained all-time price highs on spot markets, traders and speculators have been focused on the top two leading crypto assets’ dominance levels. The leading digital asset bitcoin (BTC) has 42.1% dominance in terms of market cap compared to the entire crypto economy ($2.29T). Ethereum on the other hand has a dominance level of roughly 19.8% at the time of writing. “The second-largest crypto asset by market capitalisation has been moving in a sharp upwards trajectory since its latest hard fork as it continues to prove its use-case,” Simon Peters, the crypto asset analyst at the multi-asset investment platform Etoro wrote to Bitcoin.com News. “The number of decentralised applications continues to grow on the platform. Demand from institutional investors is fuelling this latest move higher as large-scale buyers diversify their exposure in this emerging asset class, with ethereum the natural next pick,” Peters added. In another tweet on May 11, Skew analytics mentioned ethereum (ETH) was seeing large “open interest build up on $5k strike.” Deribit further explained in its Twitter thread that ethereum term structure is in backwardation and BTC in contango. “BTC term structure is in contango. We would expect this from relative RV movement. But BTC IV is nudging higher in sympathy with ETH, on low volumes. Either expectation is of BTC move, or perhaps a shift of MM collateral to the action,” the exchange noted. What do you think about the $50k ethereum options strike? Let us know what you think about this subject in the comments section below. View the full article

The U.S. securities watchdog has announced it will scrutinize mutual funds that include investments in bitcoin futures markets to verify funds that comply with the Investment Company Act. The institution warned about the dangers of investing in bitcoin futures markets due to the implicit volatility of the underlying asset. SEC Warns Funds About Bitcoin Futures Yesterday, the Securities and Exchange Commission (SEC) released a public statement titled “Staff Statement on Funds Registered Under the Investment Company Act Investing in the Bitcoin Futures Market,” where the institution announced they would ramp up vigilance for funds that have invested in Bitcoin Futures Markets as part of their speculative strategies to maximize profit. The Division of Investment Management, a section of the SEC that oversees mutual funds and other investment products, would be the institution in charge of watching the behavior of these funds. The public statement also warns these funds about the implicit volatility of bitcoin, and consequently, about the volatility of bitcoin futures markets. The statement argues that: Investors should consider the volatility of Bitcoin and the Bitcoin futures market, as well as the lack of regulation and potential for fraud or manipulation in the underlying Bitcoin market. The statement highlights the lack of protection and price manipulation from third parties that the underlying asset can experience, affecting said markets. The Division of Investment Management announced it would be vigilant on several issues, including analyzing the liquidity of the market to verify if it has the liquidity to sustain these funds. Alongside this, monitoring the impact of these funds on the price of bitcoin, and analyzing the possibility of fraud or manipulation affecting these investment structures. A Bitcoin ETF Could Be Approved Shortly The statement mentions it will assess through thorough investigation if the market can support the launch of a Bitcoin ETF. The SEC stressed that they would: Consider whether, in light of the experience of mutual funds investing in the Bitcoin futures market, the Bitcoin futures market could accommodate ETFs, which, unlike mutual funds, cannot prevent additional investor assets from coming into the ETF if the ETF becomes too large or dominant in the market Several proposals for approval of a bitcoin ETF have been filed and rejected by the SEC during the last few years, with its former Chairman Jay Clayton being considered as a bitcoin skeptic in crypto spheres. However, now that Clayton has abandoned his position in the institution, it seems that at least they are considering it. This year, a plethora of bitcoin ETF applications have been filed, as a result of the rising interest for bitcoin due to the bull market, and even an ethereum ETF has been proposed. However, the tone in which this statement is written is not too optimistic, which might mean it could take some more time before a cryptocurrency-based ETF gets approved in the United States. What do you think about the SEC scrutinizing funds invested in Bitcoin Futures? Tell us in the comments section below. View the full article

It’s been a while since the crypto market has seen such a promising project, something that has a clear basis on a real market need and a long-term plan to stay relevant and bring value to customers, investors, and users alike. Uniqly.io aims to do exactly that, giving real-world value to digital items. Veterans of the space already know what non-fungible tokens are, and why they cost so much, but the mainstream market perception of them is poor at best. Without tangibility and actual “proof” it’s difficult to understand why that particular string of pixels may be worth so much, and as such, even with people like Beeple making millions out of their work, NFT has been already categorized as a fad by a lot of so-called “experts”. This can’t be further from the truth, as the expansion of the digital market is an unstoppable force, but to see a team recognize how to bridge that last connection between digital and physical goods, and act on it in less than 6 months is quite impressive. Even more when you consider how the community reacted to this particular project. Uniqly Answer to Community Backing You don’t see many projects be in such direct contact with their community. Following the overwhelming response of their user base, the Uniqly team moved up their first item drop, giving birth to the first physical NFT collection ever. After a whitelist event, the 10 k t-shirt drop is planned to happen on the 12th of May, bringing to everyone the possibility to acquire limited edition NFT art printed on shirts. This will be just the first of many more rewards to come, but its significance can’t be understated, giving the public a perspective on how Uniqly listens actively to its community and tries to tie its project to actual demand from customers and investors alike. Each design will be unique, just like its digital signature, and given the great success of previous FCFS sales, Uniqly will keep using this format, giving people that got on the whitelist a 30 minutes headstart to buy their favorite selection of shirts from the drop. While it’s not the first time you see NFT being auctioned, it’s the first time that each item has real-world value, directly correlated to the unicity given by being an NFT item. This not only ties well into a transition to the mainstream market, but it also gives a real-life example of what Uniqly is doing: filling a gap in the current market. Uniqly Features: The Dilemma of Niche Selection Looking at a lot of other crypto-based NFT projects, the public perception can get lost. People are riding this Bullrun, trying to quickly profit from a fad, and giving birth to single-purpose tokens with one-trick ponies projects. Uniqly decided from the start to structure itself as a long-term project, with clear goals in mind, a plan behind them, and the willingness to take the time to perfect each of their steps towards the creation of their ecosystem. Because just like the big names in crypto, what the people behind UNIQ are developing is a wide-facing marketplace full of high-value features. While their website offers a full roadmap and a well-structured white paper providing users with detailed information, a mention of their services is still needed. With the escrow and marketplace, Uniqly plans to have a continuous cash flow on their platform feeding the cycle of organic growth, and gaining in this way both a customer base of their own and develop a connection between peers. This is crucial for community development and longevity, and seeing it already being implemented in the earlier stages is reassuring. From the generator and materializator comes the user value: the ability to both create new NFT, or transform physical items in NFT and vice versa is crucial at the moment, taking the entire NFT ecosystem and giving it a funnel into the mainstream market. The amount of uses a service like this has is staggering, and it’s a scalable service that will just get better as time passes. What is starting as a digital artist’s dream may branch in a lot of directions, each one more profitable than the last. The staking pools are a treat for investors, closing the ecosystem of Uniqly three-pronged approach: high value to sellers and buyers, high value to artists and consumers, and high value to investors and partners. All specifics about bonuses, can be found here. By combining some practices from well-established companies with the uniqueness of the NFT world, Uniqly selected method for vesting and staking are some of the most solid found on today’s market. Uniqly Early Days Weaving a web of connections to ensure a smooth transition to the following phases, the Uniqly team has allocated a sizeable chunk of their timeline to interactions with collaborators, sponsors, private groups, and partners. During this initial phase, the team also handled some of the most delicate aspects of launching a project: funding, publicity, and community building. And that’s where the real surprise comes: after the less demanding seed and private sale allocation, both UNIQ public sales crushed all expectations, managing to get to their hard cap in less than 10 minutes for their first sale, and in less than 4 for their second sale, which was also 300k USD higher than the previous one. All detail can be found on their medium, and even more impressive than the community response was the team answer to such a massive outreach. The first sale smoothness was praised both by investors and users, the telegram community expressed their satisfaction towards the Uniqly customer service team and the whole staff. The second sale had a Hiccup in the form of their website crashing due to the massive volume of users, an issue that came as a surprise for a lot of people after the recent website update and its optimization. The reason for the crash becomes clear when looking at the stats. The user demand was so staggering that 980k USD of UNIQ tokens went out in less than 4 minutes, making the sale even more successful than the last. Uniqly team swiftly handled the problem, with the deployment of smart contracts via email lists gathered during the whitelisting process of the sale. The community response was also really positive, making it the second consecutive success of the team. Already delivering on their promises, on April 15th the UNIQ token was officially listed on Uniswap, and despite the technical difficulties that ensued due to the ETH network changes after the Berlin hard fork happened on the 14 of April, Uniqly still did amazingly well, going from the listing price of 0.40 USD to the peak of 5.21 USD per token in the first 20 minutes. A really important metric, and the reason why everyone is so sure about the potential value of this particular project, is another one, and the Uniqly team can safely say that they aren’t worried about it in the least. With a staggering increase of more than 120%, the number of UNIQ holders has gone from less than 800 to more than 1.6 k in less than 48 hours. The planning behind the project, the information available to the users, the transparency and capability of the team coupled with the current market condition are perfect for Uniqly to bloom, and smart investors are recognizing the value in holding the token.. This is a really good sign, and if the team will keep maintaining those standards the current landscape of the NFT world will change drastically once all features are deployed on the uniqly website. They also don’t seem to slow down, as they kept releasing promising pieces of information. Staking is planned to come to their platform soon, as announced here, so let’s wait for another successful display by Uniqly. Too Good to Be True A well-laid plan, clear roadmap explained on their website, a competent and transparent team, various proven successes, great support from the community, all backed by a brilliant idea that exactly fills a real market gap that has become apparent in the NFT space. While it seems too good to be true, sometimes things are just what they appear to be, and in this case, there are no indicators of the contrary. For sure, it’s too early to tell, but with such a promising start, expecting great things from Uniqly is not that far off the mark. To make a more educated decision, waiting for things to develop more and see how the team handles the next few weeks will be crucial, but for now, the future is rosy, assuming the team will be maintaining this level of competence going forward. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Vanda Research has warned of a broad correction in the cryptocurrency market. Ben Onatibia, the firm’s partner and senior strategist, said that the surge in cryptocurrency prices this year is reminiscent of bitcoin’s rally in 2017. A Correction in Crypto Market Appears to Be Brewing, Says Analyst Vanda Research published a report Monday warning of a broad correction in the cryptocurrency market. The firm’s partner and senior strategist, Ben Onatibia, explained that in 2017 the bitcoin price rise was followed by a correction and a jump in interest in then-lesser known cryptocurrencies. He added that “a broader correction” in crypto markets appears to be brewing. “The meteoric rise in cryptocurrencies has a whiff of deja vu,” Onatibia described, adding that in 2017 when the bitcoin rally started to wane down, “investors rotated to lesser-known altcoins like ripple and ethereum.” Noting that during that time XRP peaked on Jan. 8 while ETH held onto its gains for another week or two, he described: In the months that followed, cryptocurrencies cratered as retail investors rushed to the exit. The analyst explained that now the crypto market is in “precisely the same hot potato game” that took place in 2017. He detailed that “Under the pretext of institutional support, retail investors started rotating out of speculative retail stocks and pouring their money into bitcoin.” Vanda Research said in its note that following the most recent peak, retail buyers have flocked to dogecoin and ether, similar to what happened in 2017. Onatibia pointed out that despite Tesla CEO Elon Musk’s attempt to boost dogecoin with tweets and mentions on Saturday Night Live (SNL), dogecoin has failed to fully recover. “If and when ethereum suffers the same fate, the cryptocurrencies will likely face a wave of redemptions,” said the macro strategist. Emphasizing that “open interest data from different crypto exchanges shows that there has been a rotation from bitcoin to ethereum since the Coinbase IPO,” the strategist opined: We think a correction in crypto would push retail investors back into equities, where some of their favorite stocks are now trading at a significant discount vis a vis the February highs. Do you agree with the analyst about an incoming correction in the crypto market? Let us know in the comments section below. View the full article

A new cryptocurrency exchange called “Bullish” will be launched this year by Bullish Global, a subsidiary of Block.one. It is backed by a number of prominent investors, including Peter Thiel, Alan Howard, Louis Bacon, Richard Li, Mike Novogratz, Christian Angermayer, and investment bank Nomura. Bullish Global Launching Bullish Exchange Block.one, the software company behind the EOSIO open-source software, announced Tuesday the launch of a newly formed subsidiary, Bullish Global, which is capitalized with over $10 billion in cash and digital assets. Bullish Global operates as an independent entity and is focused on launching a new cryptocurrency exchange called Bullish. It is “designed to combine the performance, user privacy, and compliance offered by central order book technology with the vertically integrated user benefits of decentralized finance (Defi) market architecture,” the announcement notes, adding: The Bullish exchange will offer new automated market making, lending, and portfolio management tools to its users to deliver functionality that has previously been monopolized by incumbent players in traditional finance, while driving deeper liquidity to digital assets. The company further explained: “Bullish will utilize EOSIO and the EOS Public Blockchain to produce a cryptographically validated, provable, and immutable audit trail of all transactions processed on the Bullish platform.” Following the Bullish exchange launch news, the price of EOS jumped almost 50% in the past 24 hours. It currently stands at $13.63 per coin. Bullish Global’s $10 billion initial funding from Block.one comprises $100 million, 164K BTC, 20 million EOS, and a $300 million strategic investment round. Among the renowned investors leading the capital raise were Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, Mike Novogratz’s Galaxy Digital, and global investment bank Nomura. Peter Thiel, Alan Howard, Richard Li, and Christian Angermayer will also serve as senior advisors to the company. What do you think about this cryptocurrency exchange Bullish? Let us know in the comments section below. View the full article