Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level

Bitcoin Follows US Stock Dive, Experts Predict $37,500 Price Level
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As Wall Street opened today, resuming April 21 market losses, Bitcoin faced selling pressure. 

Bitcoin prices fell following the stock market plunge. As a result, many experts predict that the Bitcoin price will take a hit and can dive to $37,500 per coin.

Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes

According to TradingView data, on April 22, the price of Bitcoin hit $39,197.

Bitcoin trading below the significant support level of $40,000 | Source: BTC/USD chart from Tradingview.com

The crypto market significantly increased yesterday, with Bitcoin reaching above $42,700. Unfortunately, the day had cost bulls $40,000 support, which had not yet become meaningful at the time of writing.

The Material Indicators team observed that the bids were filling at lower prices for analytics resources’ order books.

According to a chart, there were about $100 million in bids waiting on Binance between spot and $37,500.

In a tweet, Material Indicators said’

#FireCharts is showing ~$100M in #bitcoin bid liquidity between here and the $37.5k range. Expecting it to get filled, but watching to see if #BTCUSDT liquidity moves to the active buy zone or the buy zone moves to the orders resting on the @binance order book.

Stock Market Today

The U.S. stock market continued to go down today. The S&P 500 was down 1.75%, and the Nasdaq 100 was down 1.43% in the first 90 minutes of trading. 

The bond market sell-off worsened and reached “historic proportions”  in Europe. In a tweet, markets commentator Holger Zschaepitz said;

The European corporate bond market’s ongoing selloff has reached historic proportions, w/high-grade bonds losing a record 8.6% in total return terms since their Aug peak. This is now worse downturn than lows reached during early coronavirus turmoil & the GFC, BBG has calculated.

Bitcoin Price Predictions

Many traders were waiting before making any decisions about Bitcoin. As a result, the BTC/USD exchange rate was now in a critical area.

Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet

Michaël van de Poppe, CEO & Founder Eight Golbal, said;

The level has hit. Let’s see how the market will respond from this area on #Bitcoin

Cheds, a crypto funding analyst, looked at the price performance over the past few weeks and took a more ominous line.

Bitcoin may now be in more trouble than people thought because it failed to stay above its range earlier this month, he warned on April 22.

In his tweet today, Cheds said;

$BTC my belief is most market participants are underestimating the impact of this failed breakout.

Bitcoin has been experiencing a lot of pessimistic predictions about its price in the mid-term. One example is former BitMEX CEO Arthur Hayes, who believes that the price will reach $30,000 by June.

 

                    Featured image from Pixabay, chart from Tradingview.com

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Another 6 Members of Finiko Crypto Pyramid Arrested in Russia – Bitcoin News

Another 6 Members of Finiko Crypto Pyramid Arrested in Russia – Bitcoin News
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Russian law enforcement authorities have detained six more members and executives of the notorious crypto Ponzi scheme Finiko. Police in the Republic of Tatarstan and Russia proper have conducted dozens of searches as part of an ongoing investigation into the pyramid, which defrauded investors around the world.

New Arrests in Finiko Case Made in Russian Federation

The Russian Ministry of Internal Affairs, with the help of the National Guard of the Russian Federation, has taken into custody six participants and leaders of Finiko, Russia’s largest financial pyramid in recent decades. The members of the fraudulent scheme have been active between January 2018 and July 2021 in Tatarstan and other Russian regions, the ministry’s spokesperson Irina Volk told Tass.

Volk explained that they advertised the project to attract investors with promises of extraordinarily high profits in the range of 3 to 5% a day. The fraudsters asked them to convert their fiat money into bitcoin and send it to the crypto wallets controlled by Finiko. Their personal accounts were then credited with “Tsifron,” the platform’s own currency.

In reality, Finiko was never registered as a legal entity in Russia and did not make any investments on behalf of its clients. After some time, it simply stopped paying investors the promised dividends and they were unable to withdraw their funds. The complaints of more than 5,000 people are now part of the materials for the criminal case.

Officially recognized losses exceed 5 billion rubles ($65 million) but the actual total may be much higher. According to a report by blockchain forensics firm Chainalysis, the scam had received over $1.5 billion worth of bitcoin in 800,000 separate deposits between December 2019 and August 2021. Citizens of Russia, Ukraine and other former-Soviet republics, several EU member states, and the U.S. are among the victims.

A number of Finiko’s top figures were arrested last year, including the pyramid’s founder and mastermind Kirill Doronin, two of its vice presidents, Ilgiz Shakirov and Dina Gabdullina, as well as Lilia Nurieva, who rose to the rank of a so-called “10th Star.” In November, Doronin offered to testify against 44 of his accomplices. His close associates Zygmunt Zygmuntovich, Marat Sabirov and Edward Sabirov, left Russia as the crypto scheme collapsed last summer, avoiding detention.

Irina Volk noted that property belonging to the accused worth more than 1.3 billion rubles has been confiscated. Representatives of the Russian interior ministry’s Investigative Department have carried out over 70 searches alongside the latest arrests, seizing documents and computer equipment as evidence for the case.

Tags in this story
arrests, Case, Crypto, crypto pyramid, Cryptocurrencies, Cryptocurrency, detention, Executives, financial pyramid, Finiko, Fraud, fraudsters, Investigation, investment scheme, members, Ponzi Scheme, Pyramid, russian, Suspects, tatarstan

Do you expect Russian authorities to arrest more suspects as part of the investigation against Finiko? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

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KyberSwap Launches on BitTorrent Chain With $1.5M in Liquidity Mining and Incentive Rewards – Sponsored Bitcoin News

KyberSwap Launches on BitTorrent Chain With $1.5M in Liquidity Mining and Incentive Rewards – Sponsored Bitcoin News
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Kyber Network and BitTorrent have announced the integration of KyberSwap with BitTorrent Chain (BTTC) as their 11th chain integration, with more than $1.5M in liquidity mining and trading incentives available to users immediately.

The partnership will accelerate DeFi’s adoption with the combined benefits of best trading and earning rates, ease of use, security, and multi-chain capabilities.

Making Liquidity Mining Attractive

KyberSwap is the leading multi-chain DEX and is the best place to trade and earn the most excellent rates in DeFi. As of March 2022, KeyberSwap was the #7 DEX in terms of TVL growth and facilitated over US$8B of the trading volume. BitTorrent is an EVM cross-chain designed protocol that adopts the PoS (Proof-of-Stake) mechanism and leverages sidechains to scale smart contracts. For the next 4 months, from 21st April, users of KyberSwap and BTTC can participate in more than US$1.5M of liquidity mining incentives.

Will KyberSwap become the de-facto DEX with the most liquidity and swaps on BTTC and cross-chain bridging with Ethereum, BNB chain and Tron network? The partnership certainly hopes so.

Why add liquidity on KyberSwap? KeyberSwap allows liquidity providers (LPs) to maximize returns with the best trading rates, attractive incentives and yields.

  • Amplified Liquidity Pools have extremely high capital efficiency; fewer tokens are required to achieve better liquidity and rates than AMMs.
  • Dynamic Fees that react to market conditions and optimize returns for LPs.
  • Better Reliability & Security: Audited by ChainSecurity and insured up to $20M by Unslashed Finance.
  • Fully Permissionless: Anyone can easily add liquidity for any token pair to KyberSwap pools, while any taker (e.g. Dapp, aggregator, or end-user) can access this liquidity.
  • No Centralized Oracle: No third-party or centralized price feed oracle risks. Oracles refer to a middle software that shares info between non-blockchain sources and blockchain sources (central software that connects blockchain to the outside world)

With KyberSwap, BTTC users can trade and earn with the best rates and access the full spectrum of multi-chain DeFi capabilities. With monthly trading competitions, community giveaways, and an exclusive airdrop for all users who participate on-chain, KyberSwap is making it more attractive to add liquidity and maximize returns using its platform; and that’s not all! Even more integrations, features, and rewards will be coming up soon!

KyberSwap is excited about this partnership. The team is holding a sure-win trading contest with a $30,000 KNC reward pool to kick things off! Winning is straightforward; just follow the steps:

Step 1: Visit kyberswap.com

Step 2: Ensure you are on the BitTorrent Chain and have some BTT tokens in your wallet for gas fees.

Step 3: Perform ANY token swap. The minimum trade volume is $100.

  • All trades must be carried out on kyberswap.com. From 21st to 30th April, simply perform any token swap on BTTC to get your share of the rewards pool.

For The Love of BTTC & KyberSwap

The partnership between BTTC and KyberSwap brings attractive incentive campaigns for all users who love the two platforms. BitTorrent will be enhancing liquidity on KyberSwap with a $1.5 million liquidity mining campaign. Over the next four months, starting from April 21st SGT, liquidity providers can add any liquidity to the 13 eligible pools on KyberSwap on BTTC; to unlock their share of $1.5M in BTT and KNC rewards.

BTTC farms on KyberSwap will be allocated over $1.5M in BTT and KNC rewards over four4 months. The following farms listed below will go live on Thursday, April 21st, 2022, at 20:00 GMT+8, and other farms to be announced.

Saving the best for last and putting the cherry on top of this fantastic partnership, in their upcoming Gleam Campaign, there’s also $200 KNC to give away to five lucky winners! You have to follow some simple tasks, and five lucky winners will be selected at random to win $200 each in KNC!

Full details will be announced later, so stay tuned to the announcements to avoid missing out!

How to Start Liquidity Mining With BTTC

In order to start farming $BTT and $KNC all you have to do is:

Step 1: Visit kyberswap.com

Step 2: Make sure you are on the BTTC network and have some BTT tokens for gas transaction fees.

Step 3: Visit the Pools page and add liquidity into the eligible pools. Eligible Rainmaker pools are identifiable by a raindrop 💧 icon. You will receive Liquidity Provider (LP) tokens representing your pool share after you add liquidity.

Step 4: Go to the Farm page and click Approve on the farm you wish to add liquidity to. Once approved, stake your LP tokens on the farm and you will start receiving BTT and/or KNC rewards, which can be harvested anytime. There is no vesting period!

Make sure to check out the Kyber Network’s Medium post on the matter for the full details and explanations.

To learn more visit Kyberswap.com and join the community on Twitter.


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Digital Peso to Be Launched in Three Years According to Governor of Banxico – Bitcoin News

Digital Peso to Be Launched in Three Years According to Governor of Banxico – Bitcoin News
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Banxico, the Central Bank of Mexico, has announced it expects the development of its central bank digital currency (CBDC), the digital peso, to be completed in about three years. Victoria Rodríguez Ceja, the governor of Banxico, reported this before the Mexican Senate and added that the new currency should fulfill the three traits of money to create more financial inclusion.

Governor of Banxico Reports CBDC Advancements

Banxico has given a status update on its CBDC, the digital peso. The governor of Banxico, Victoria Rodríguez Ceja, informed that the bank had a rough approximation of the time it will take to complete and launch the currency. During the bank’s visit to the Senate to render its annual report, Rodríguez Ceja stated:

We estimate that in this process we will take around three years for its definitive operation.

The governor also stated this currency could be used as a means of exchange, as a unit of account, and as a store of value — three traits of money. The development of this currency was announced back in December 2021, when the governor, also before the Senate, talked about the possible functions that such a currency could have.


Financial Inclusion and Payments

Rodríguez Ceja compared cryptocurrencies and the CBDC that is in process of development, explaining the differences between the two. She stated that the upcoming digital currency was backed by the central bank, and will be part of the monetary base of the country. However, about cryptocurrencies, she warned:

Crypto assets are unsupported assets, they are not legal tender currencies and due to variability they can be a risk for individuals who decide to have access to them.

Banxico expects the future digital peso to be useful for improving the financial inclusion of more people into the banking system. In this sense, the currency is also being designed to provide another alternative for making payments. Rodríguez Ceja stated that this new currency does not have the goal of substituting the current system, but will serve as a tool to provide more opportunities to the underserved.

According to the World Bank, Mexico lags in financial inclusion, with only 37% of adults having access to a bank account in 2021. In the same way, only 32% have made or received digital payments. This puts Mexico at a disadvantage when compared to similar countries in the area. The digital peso aims to improve this situation, with commercial banks also proposing to help in the design of the currency to fulfill its goals.

What do you think about the statements of Victoria Rodríguez Ceja about the digital peso? Tell us in the comments section below.

sergio@bitcoin.com'
Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

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Solana Prices South Bound; Will It Revisit $80 Soon?

Solana Prices South Bound; Will It Revisit $80 Soon?
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Solana depreciated by almost 6% over the last 24 hours as the broader market started to get choppy. Bitcoin was seen trading below the $40,000 mark while Ethereum broke the support level of $3,000.

The global market currency cap stood at $1.94 Trillion after a fall of 6% over the past day.

Solana had depicted considerable recovery on charts as it broke subsequent price ceilings over the past week.

The coin had managed to revisit the $110 level which the coin hovered near thrice in the past week or so. Following the recent dip, buyers decided to exit the market as the coin witnessed a sell-off as seen on the four-hour chart.

Solana Price Analysis: Four Hour Chart

Solana is nearing its immediate support level on the four-hour chart. Image Source: SOL/USD on TradingView

Solana was priced at $100 at the time of writing. The altcoin lost close to 6% of its value over the last 24 hours. SOL had noted a sharp recovery on the 18th of April and it challenged its resistance mark of $110.

At press time, SOL was aiming for its nearest support level of $96. The coin was trading in a descending trendline, which signifies that SOL could continue in its downward trajectory. From the four-hour chart, it signalled that Solana was undergoing a price correction.

If the bears continue to exert dominance, Solana would immediately fall by 4%. A fall from the $96 price level would push prices to $87 and then finally undergo a depreciation of 18% and land at $80.

Trading volume had dipped but was in the green, which could also mean that buying pressure was increasing at the time of writing.

Related Reading | Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes

Technical Analysis

Solana
Solana recieved increased selling pressure on the four-hour chart. Image Source: SOL/USD on TradingView

Solana had experienced a bout of buying pressure when the coin soared on April 18th. At the time of writing, the coin witnessed a surplus of sellers.

On the Relative Strength Index, the indicator was seen below the the half-line which is indicative of increased selling strength, however there was a slight uptick on the RSI. This uptick could mean that buying strength would pick up over the next trading sessions.

On the 20-SMA, SOL was placed underneath the 20-SMA line. This referred to sellers driving the price momentum in the market.

Solana
Solana continued to depict downtrend on the four-hour chart. Image Source: SOL/USD on TradingView

Solana was on a continued price correction as seen from the above chart. MACD which is responsible for determining the market momentum indicated bearishness in the market. On the aforementioned indicator, the coin displayed a bearish crossover at the time of writing.

It also displayed small red histograms which signified that SOL would continue on a negative price action. Investing in Solana at the moment doesn’t seem to be a wise decision. For the coin to see some respite, it had to break above the $110 price mark and trade over it for a considerable period of time.

The Parabolic SAR which determines a stop-loss order, has demonstrated dotted lines above the price candlesticks which is synonymous to a negative price movement.

Related Reading | Bitcoin Under Pressure Near $40K, Here Are 2 Reasons Why That Could Change Soon

Featured image from Unsplash.com, charts from TradingView.com

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Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requirements – Regulation Bitcoin News

Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requirements – Regulation Bitcoin News
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Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as legal entities.

Crypto Industry’s Letter to EU Policymakers

Forty-six European crypto businesses and organizations have sent a letter to 27 EU finance ministers regarding disclosure requirements for crypto transactions, Reuters reported this week, noting that it has seen the letter.

In the letter, dated April 13, the businesses and organizations asked EU policymakers to ensure their regulations do not extend beyond the existing rules that are in line with the standards set by the Financial Action Task Force (FATF).

They raised concerns about the rules requiring crypto firms to obtain information on parties involved in digital currency transfers. Specifically, they asked that the EU excludes decentralized projects, including decentralized finance (defi), from the requirements to register as legal entities. They also noted that certain decentralized stablecoins should not be subject to the Markets in Crypto Assets (MiCA) regulatory framework.

The proposals leading to public disclosure of transaction details and wallet addresses “will put every digital asset owner at risk” by reducing crypto holders’ privacy and safety, the letter’s organizers noted.

The European Parliament voted to advance the MiCA bill last month without the provision that would have effectively banned proof-of-work-based cryptocurrencies. The EU introduced MiCA to regulate all crypto issuers and service providers in the region.

Coinshares CEO Jean-Marie Mognetti, one of the letter organizers, noted that European crypto regulations are currently more complex than other regions. She stressed that tough regulations have deterred businesses from expanding in Europe.

Another letter organizer, Diana Biggs, chief security officer at Defi Technologies, opined:

There hasn’t been strong enough or coordinated efforts across our industry in Europe.

Do you think EU policymakers will loosen the disclosure requirements as requested? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

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Kadena Launches $100 Million Grant Fund to Develop Web3 Experiences – Bitcoin News

Kadena Launches $100 Million Grant Fund to Develop Web3 Experiences – Bitcoin News
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Kadena, a proof-of-work-based cryptocurrency that also has the possibility of supporting smart contracts, has announced a new set of grants directed to incentivize the creation of Web3 experiences. This $100 million grant fund is part of the Kadena Eco initiative, whose objective is to offer builders a complete suite to deploy their solutions on top of the chain.

Kadena Grants Seek to Attract People to Ecosystem

Kadena, a top-100 cryptocurrency project that is based on proof-of-work (PoW) consensus but also offers the possibility of executing smart contracts, has revealed a new set of developer grants seeking to attract builders to its chain. The grant program, which will have $100 million available for interested teams, is part of the Kadena Eco program, which presents a set of other initiatives directed to help teams, companies, and startups to produce Web3 experiences.

The Kadena Eco program includes several other aspects that are to be developed in the near future. Among them are an incubator for growing the skills of more developers in different projects, an accelerator to power other projects, and even a venture fund that aims to “propel companies using or pivoting to Kadena’s blockchain platform to realize their vision.”

Regarding this full global support that Kadena seeks to offer builders, Stuart Popejoy, founder and CEO of Kadena, stated:

We’re empowering builders to pioneer new projects that transform the world, and we’re doubling down on our promise to make that happen by actively and responsibly deploying our treasury resources to ensure long-term sustainability of our ecosystem.


Grants Process and Similar Programs

The grants program is already open and receiving proposals. The press release from the Kadena team explains that each of the proposals will be examined taking several key aspects into consideration that include: technical strength, detail of specifications, team experience, and usefulness for its ecosystem. The team will be receiving proposals in the areas of gaming, metaverse, NFT, Web3, DeFi, and DAOs.

However, recipients of this grant will have to also abide by Kadena’s requirements, and contribute to the ecosystem by producing material directed to teaching other members of the community about the programming of their products.

Web3 has become a very important focal point for many companies and funds that are investing and offering incentives for builders. Griffin Gaming Partners announced one of the biggest funds for Web3 and gaming in March, raising $750 million at that time. The Avalanche Foundation also launched a $200 million fund called Blizzard last November, which seeks to invest $200 million in innovations built on top of Avalanche.

What do you think about Kadena’s $100 million Web3 development fund? Tell us in the comments section below.

sergio@bitcoin.com'
Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

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The Nightly Mint: Daily NFT Recap

The Nightly Mint: Daily NFT Recap
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A mint fee that got lost in the… ether? We save our puns for Friday. A new NFT project had a contract bug that is resulting in tens of millions of dollars potentially locked for eternity.

The Nightly Mint

Latest Mint: AkuDreams & A Stuck Contract

Over 11,000 ETH was seemingly permanently locked in new NFT collection, AkuDreams, after a programming error left the contract stuck – unable to be retrieved both by individuals and by the dev team. We’ll spare the technical details, but the development around a ‘processRefunds()’ function, paired with a griefer who took advantage of the sloppy code, resulted in the contract being permanently stuck.

However, the griefer’s motives were unintentional, according to a tweet thread from the AkuDreams team; nonetheless, it seems that the contract code is still resulting in 11K+ ETH locked.

Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet

Over 11,000 ETH are seemingly locked as part of a faulty contract error in new NFT project, AkuDreams. | Source: ETH-USD on TradingView.com

RTFKT’s New Release… Underwhelms?

RTFKT has been building hype over it’s upcoming Monolith (MNLTH) release, and the official reveal finally dropped today with new NFTs of digital sneakers. RTFKT first made headlines last year after being acquired by Nike. So it shouldn’t be too shocking to see Nike’s first real attempt at digital sneakers coming to life – after all, the company has previously shown efforts to pursue legal battles against StockX to protect digital IP usage of the Nike swoosh. Nonetheless, NFT collectors had a pretty high bar of expectations set around MNLTH.

While public feedback seemed to show some essence of disappointment, the MNLTH floor is still above 10 ETH at time of writing.

The ‘Minty Fresh’ Take

Who could’ve fathomed?

Related Reading | Cardano (ADA) Is One Of The Worst Performing Crypto In Terms Of Profit

Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

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NFT Project Tori Zero Announces a Strategic Partnership With Wirex – Press release Bitcoin News

NFT Project Tori Zero Announces a Strategic Partnership With Wirex – Press release Bitcoin News
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PRESS RELEASE. On 22 April, Tori Zero announced the strategic partnership with Wirex. The first collaboration will focus on a new product developed by Wirex – the Wirex Wallet. Tori Zero will be the first group of NFT projects integrated into this new wallet.

Tori Zero is the first virtual idol project in the blockchain industry and the first NFT project that utilises motion capture and facial motion capture technologies. The character has a great background story and comes with a unique virtual idol economic model, which empowers its long-term potential. The collaboration with Wirex is a cross-industry partnership and the first presentation of Tori in Web 2.

Wirex is a digital payment platform headquartered in London. It operates globally with teams and offices in different countries and has over 5 million users in more than 130 countries. The new product – Wirex Wallet, will be a cross-chain wallet used for DeFi and NFTs.

The initiation of this partnership between Tori and Wirex will be focusing on the digital wallet, but they have also disclosed potential collaborations in cross-branded products or payment solutions.

Website: https://torizero.com/#/
Twitter: https://twitter.com/ToriZero_REDLAB
Website:

 

 

 


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.

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Saudi Arabia Exploring Possibility of Implementing Blockchain in Government – Featured Bitcoin News

Saudi Arabia Exploring Possibility of Implementing Blockchain in Government – Featured Bitcoin News
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The Kingdom of Saudi Arabia is looking into the possibility of implementing blockchain technology across its government as well as allowing the use of cryptocurrencies. However, an official said the kingdom can only successfully build blockchain-based solutions if it hires people that are proficient in this technology.

Government Needs to Hire Talented Individuals

Saudi Arabia is considering putting into action the use of cryptocurrencies in the kingdom as well as the adoption of blockchain, a report quoting a government official has said. In addition, the report says the kingdom has also been discussing Web3 technologies and how these can be utilized.

The official, Prince Bandar Bin Abdullah Al Mishari, an assistant to the Minister of Interior for technology, is nonetheless quoted in an Unlock Media report suggesting that more needs to be done before Saudi Arabia can successfully build blockchain-based solutions. He said:

There have been several meetings, webinars that have discussed the implementation of blockchain in government, yet in my opinion, all these studies, and regulations cannot build solutions on blockchain, unless we have innovative talented people within these entities who can develop solutions utilizing blockchain, Web3 and crypto currencies.

Al Mishari, in the meantime, suggested the kingdom needs to not only hire blockchain experts but must “work with universities to develop [a] curriculum in blockchain and Web3.”

While the Saudi government has yet to make a decision concerning the use of cryptocurrencies, a recent survey suggested more than half of the country’s residents believe digital currencies should be used for payments. Bitcoin.com News reported that the residents cite the ease of sending funds across borders as well as the low cost of moving funds as their reasons.

What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.














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