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By using blockchain technologies, the YellowHeart Protocol is transforming what tickets can do and how they are created, sold and resold. Through the protocol, tickets are now offered as non-fungible tokens (NFTs) and enhanced with new capabilities enabled by the HRTS (pronounced “Hearts”) utility token. In contrast to traditional tickets, NFT tickets offer music, video, and engaging experiences. They enable artists to communicate directly with their fans and provide artists and venues with a share of the proceeds any time a ticket is resold.

The YellowHeart Protocol was created to bring together an entire ecosystem – composed of fans, artists, sports teams, brands, venues, event promoters, and more – to participate in this leap forward. This community comes together at the YellowHeart NFT marketplace, which can be accessed online at yh.io or via the YellowHeart mobile app for iOS and Android.

“In addition to ticket NFTs, the YellowHeart marketplace also offers music NFTs, collectible NFTs and community NFTs. It is already the premier place for musicians to participate in the NFT revolution, where artists like Maroon 5, The Beatles and XXXTentacion are being joined by a rapidly growing community of creators. With the launch of the HRTS token anyone can now join this community; HRTS token holders will be able to engage with each other in innovative ways, creating a decentralized, peer-to-peer platform for ticketing and entertainment. We are proud to be the YellowHeart ecosystem’s founding member and technology provider,” said Josh Katz, founder and CEO of YellowHeart LLC.

“We are pleased to have selected YellowHeart as the first project to be launched on Starting Block. It displays strong signs of promise in the new world of Web 3 ticketing and music, and we are happy to support and generate more awareness around this project through our IEO platform,” said Stephen Stonberg, CEO of Bittrex Global.

“After our team drove an exhaustive, multi-month IEO qualification process, HRTS was selected as the first project to debut on Starting Block for many reasons, including the quality of its token utility value, fully-diluted valuation, circulating supply and demand balance, product roadmap, team experience, brand, and partner accomplishments. We’re excited for the future of the YellowHeart Protocol and think the addition of the HRTS token to the Bittrex Global ecosystem will add significant value for all of our users, especially for those who are lucky enough to get into the IEO,” said Chris Sinkey, Listing Director and Chief Business Officer at Bittrex Global.

Emerging projects looking to IEO can utilize and leverage Bittrex Global’s reputation as one of the most secure digital asset exchanges in the world, committed to using advanced security protocols while remaining compliant with the wide range of regulatory measures across the globe.

The YellowHeart Protocol (HRTS) token sale will launch at 13:00 UTC on May 10, 2022 on Bittrex Global Starting Block.

Learn more:

Disclaimer:

This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933. Any public offering of securities to be made in the United States would be made by means of a prospectus that could be obtained from the issuer or selling security holder and that would contain detailed information about the issuer, as well as financial statements. There is no present intention to register any part of the present or proposed offering in the United States.

ABOUT YELLOWHEART PROTOCOL

The YellowHeart Protocol uses blockchain and NFT technologies to disrupt the ticketing industry and transform how artists and fans connect.

ABOUT YELLOWHEART LLC

YellowHeart LLC is the technology provider and launch partner for the YellowHeart platform. Its marketplace for ticket NFTs, music NFTs, and community tokens attracts premier artists such as the Kings of Leon, Maroon 5, XXXTentacion, Brandi Carlile, ZHU, and more.

ABOUT BITTREX GLOBAL

Bittrex Global, the most secure digital asset exchange in the world, serves both retail and institutional clients, globally. Committed to helping users build wealth, Bittrex Global facilitates the purchase and trade of over 250 tokens. Through its use of cutting-edge technology, advanced security protocols, and a sophisticated elastic multi-stage wallet strategy the company provides a high-level experience for professional and novice customers alike. Bittrex Global is a key player in driving widespread adoption of secure and decentralized methods to building wealth while remaining compliant and adhering to the wide array of regulatory measures across the globe.

Bittrex Global GmbH is registered with the Financial Market Authority under Law of 3 October 2019 on Tokens and TT Service Providers (TVTG) in Liechtenstein to operate as a TT Exchange Service Provider, TT Token Depositary, and Token Issuer on behalf and for the account of third parties. Bittrex Global (Bermuda) Limited is regulated by the Bermuda Monetary Authority and licensed as a Class F Digital Asset Business under the Bermuda Digital Asset Business Act 2018 to operate as a digital asset exchange, provide custodial wallet services, and operate as a digital asset derivative exchange provider.

Shiba Inu still remains a whale favorite going by the activities of the top Ethereum whales in recent days. These whales seem to be undeterred by the low prices of the meme coin and rather continue to buy the digital asset in the millions. The latest purchase from an Ethereum whale has the community at the edge of its seat as one whale singlehandedly bought almost $5 million worth of the cryptocurrency, showing that interest in it has far from waned.

Ethereum Whale Hoards SHIB

A report from WhaleStats showed an enormous Shiba Inu purchase by an Ethereum whale. This whale known as “Bluewhale0073” made the purchase on Monday and has bought 193,098,244 SHIB in the transaction. It came out to a total dollar value of $4,821,938 at the time of this purchase.

🐳 ETH whale “BlueWhale0073” just bought 193,419,098,244 $shib ($4,821,938 USD).

Ranked #5 on WhaleStats:

Transaction: https://t.co/dcjl0mldog#SHIB #ShibArmy

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 18, 2022

Related Reading | TA: Ethereum Reaches Key Inflection Zone, $3,100 Is The Key

This purchase had brought the total amount of SHIB held by the top 1,000 Ethereum whales to $1,602,881,412. This makes it the most widely held token by the top Ethereum whales. Additionally, the Shiba Inu contract had made it onto the list of the top 10 contracts that the whales had interacted with for the past day. 

The token is now ahead of FTX Token as the highest holding by dollar value. It is also 5th on the top 10 most purchased tokens by the top 1,000 ETH whales in the last 24 hours.

On Monday, another Ethereum whale, known as “Bombur” had also purchased 50,520,317,707 SHIB for $1,241,789. This marks an accumulation trend among these top whales when it comes to Shiba Inu.

🐋 ETH whale “Bombur” just bought 50,520,317,707 $shib ($1,241,789 USD).

Ranked #20 on WhaleStats:

Transaction: https://t.co/ctZQVa0naq#SHIB #ShibArmy

— WhaleStats – BabyWhale ($BBW) (@WhaleStats) April 18, 2022

Shiba Inu On The Charts

Despite the reviewed interest in the cryptocurrency, it is not faring as well as expected on the charts. Shiba Inu continues to trend around the $0.00002 level, showing reduced momentum at this point. This has put the digital asset below its 50-day moving average. And for an asset like SHIB which thrives on hype, falling below this point can signal more downtrend to follow. 

SHIB trending at $0.000025 | Source: SHIBUSD on TradingView.com

A flash dip in the early hours of Monday had seen its price dip to $0.000023 but presumably, the activity from the Ethereum whales had helped boost the price back up. Nevertheless, the meme coin continues to trade more than 60% below its previous all-time high.

Related Reading | Crypto Market Cap Falls By $80 Billion In A Day As Bitcoin Dumps Below $40K

At the time of this writing, SHIB is trending at $0.000025 with a total market cap of $13.7 billion. It is now the 15th largest cryptocurrency by market cap, having fallen behind competitor, Dogecoin.

Featured image from Watcher Guru, chart from TradingView.com

The 12th president of the Federal Reserve Bank of St. Louis, James Bullard, thinks the U.S. central bank can increase the benchmark bank interest rate by 75 basis points this year. Bullard believes the Fed could raise rates to 3.5% by the fourth quarter of 2022 to combat the red hot inflation plaguing the U.S economy.

James Bullard Says ‘Inflation Is Far Too High,’ St. Louis Fed Chief Hopes to See Large Interest Rate Increases Going Forward

On March 16, Bitcoin.com News reported on the Federal Reserve raising the benchmark bank interest rate for the first time since 2018. At the time, the Federal Open Market Committee (FOMC) and Fed chair Jerome Powell raised the rate from near zero to 0.25% in order to target 0.25% and 0.50%. Still, inflation in the U.S. continues to run rampant, as statistics from the March Consumer Price Index (CPI) report indicated that U.S. inflation is currently running at 40-year highs.

This week, the St. Louis Fed chief James Bullard explained on Monday that inflation in America was “far too high,” during a virtual presentation managed by the Council on Foreign Relations. After the Fed raised interest rates in mid-March, the FOMC noted that “ongoing increases…will be appropriate.” Bullard wholeheartedly agrees and he further explained that increases could be even higher than 50 basis points. The St. Louis Fed chief explained how Fed Chair Alan Greenspan increased the benchmark rate by 75 basis points in 1994.

“More than 50 basis points is not my base case at this point,” Bullard stressed during the Council on Foreign Relations’ virtual event on Monday. Bullard further noted that Greenspan’s decision helped bolster a significant rebound in the American economy. “That one was successful, and did set up the U.S. economy for a stellar second half of the 1990s — one of the best periods in U.S. macroeconomic history,” Bullard remarked during the presentation. Bullard added:

And in that cycle, there was a 75 basis point increase at one point, so I wouldn’t rule it out.

Report Highlights the Fed ‘Creating More Inflation by Expanding the Central Bank’s Balance Sheet,’ Bullard Hopes to Put ‘Further Downward Pressure on Inflation’ by Q3

Despite Bullard saying inflation was “far too high,” the economist and gold bug Peter Schiff has asked why the U.S. central bank’s balance sheet keeps increasing. For instance, a report published on Schiff’s website explains that “in the week ending April 13, the balance sheet grew by $27.9 billion, hitting a new record of $8.965 trillion.” Schiff’s findings highlight that the balance sheet is up $3 billion from the high recorded in March.

“For all the talk of fighting inflation and shirking its balance sheet, the Fed continues creating more inflation and expanding its balance sheet,” Schiff’s blog post explains.

The St. Louis Fed branch president did not expand upon the Fed’s balance sheet and much of the inflation blame game was placed on Covid-19 and the current Ukraine-Russia war. Bullard stressed during his talk that he would prefer to see the benchmark rate hiked up to 3.5% by the year’s end. Currently, the Fed has six remaining FOMC meetings in 2022 and Bullard thinks that half-percentage-point increases or larger are feasible.

“What we need to do right now is get expeditiously to neutral, and then go from there,” Bullard insisted during his presentation on Monday. “I’ve even said we want to get above neutral as early as the third quarter, and try to put further downward pressure on inflation at that point,” the St. Louis Fed branch president concluded.

What do you think about the St. Louis Fed branch president’s recent statements on how the Fed should tackle inflation by raising benchmark interest rates? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.