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Bitcoin News & Updates / Bullish Momentum Sees Bitcoin Break Through $60,000 Resistance

« on: April 10, 2021, 06:10:55 PM »

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News Report
BREAKING Bullish Momentum Sees Bitcoin Break Through $60,000 Resistance
By Ryan James
10 April 2021, 12:00 GMT+0000
IN BRIEF
Bitcoin surged past $60,000 on Saturday.

Strong buying pressure could see bitcoin break previous high .

Chamber of Digital Commerce predict bitcoin could reach $288,000.

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The Trust Project is an international consortium of news organizations building standards of transparency.

Bitcoin has regained bullish momentum over the weekend to climb back over the $60,000 mark on Saturday.

This week saw bitcoin try and test key resistance levels at $60,000 and fail. However the weekend has seen increased buying pressing finally push the cryptocurrency over the key resistance level.

Friday saw bitcoin recover from its bearish price action to surge over 7% heading into the weekend. The price managed to touch $61,500 on Saturday, just a mere $200 off the previous all-time high which was set nearly one month ago.

Bullish Momentum Sees Bitcoin Break Through $60,000 Resistance
https://cryptonews.net/530046/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / Theta Labs to Bring NFTs to Millions of Poker Fans

« on: April 09, 2021, 06:00:22 PM »

The World Poker Tour, one of the leading poker brands, has partnered with Theta Labs to launch its collection of non-fungible tokens.

Like NBA Top Shots, the WPT marketplace will feature a digital collection of some of the most iconic poker moments.

Late professional poker player Mike Sexton is the face of the very first drop, with Darren Elias and Tony Dunst also being featured in the “legendary” tier. There are also “rare” and “common” packs.

WPT
The WPT NFTs will be auctioned off during the live premiere of new episodes of season 18 for a limited time, according to the press release:

Each week during the episode, in-show advertisement and promotional segments will direct viewers to the NFT marketplace to queue up, purchase exclusive WPT packs for a limited time and participate in the live auction for a unique legendary poker moment.

The pricing of new the WPT NFTs remains unclear, but they are unlikely to fetch such crazy sums of money as NBA Tops Shots since poker is not as popular as basketball.

Blockchains are pivoting to NFTs
While NFTs are typically issued on Ethereum-based platforms, other blockchains are vying to chip away at its dominance.

Enjin and Theta are among the latest projects that are trying to make their presence known in the booming crypto sector.

Zilliqa is also playing catch-up, recently announcing its partnership with boxing champ Terence Crawford.

Theta Labs to Bring NFTs to Millions of Poker Fans
https://cryptonews.net/525890/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / Winklevoss Twins Nab Virtual Real Estate in 'NFT Metaverse' The Sandbox

« on: April 09, 2021, 05:52:06 PM »

Upcoming Ethereum-based game The Sandbox—a blocky, shared 3D world in which players can purchase digital land and deploy their own interactive games—revealed today that it has sold its virtual, non-fungible token (NFT) properties to an array of prominent new buyers.

Cryptocurrency exchange Gemini and its Nifty Gateway NFT marketplace lead the list, alongside their billionaire founders Tyler and Cameron Winklevoss. Galaxy Interactive, the gaming-centric arm of Mike Novogratz’s Galaxy Digital investment firm, is also on the list alongside investor Bill Lee of 21x, Ken Howery, Sundeep Madra, and many others.

Each has purchased some amount of The Sandbox’s in-game LAND, which is part of the shared in-game map, and has agreed to develop interactive experiences on their respective virtual spaces. In a release, Tyler Winklevoss said that they plan to “extend our existing platforms into The Sandbox and develop unique experiences on our properties that advance our mission of empowering the individual through crypto."

The list of new LAND buyers has a surprising curveball on it, though: heavy metal band Avenged Sevenfold sits amongst established crypto brands and investors. However, it doesn’t feel entirely out of place in The Sandbox, a game that has attracted diverse partnerships, including those with Care Bears and The Smurfs, as well as Atari, Square Enix, and Binance.

It’s a broad mix of brands and individual LAND collectors alike in the Metaverse, and buyers will soon get another chance to purchase some digital real estate. The Sandbox has announced its next public LAND sale for April 14, with “premium” LAND located on the map near the plots of these newly-revealed partners. Each piece of LAND will come with “exclusive premium NFTs” that owners can use to create their in-game locations and experiences.

Winklevoss Twins Nab Virtual Real Estate in 'NFT Metaverse' The Sandbox
https://cryptonews.net/527958/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / Stratis announces plans to launch an artist-focused NFT platform

« on: April 09, 2021, 05:41:32 PM »

e platform will help artists create NFTs seamlessly by lowering entry fees.
Despite this news, STRAX price continues trading sideways with little movement.
The NFT race is intensifying as artists and fashion houses scramble to issue NFTs.
Stratis, a powerful and versatile blockchain development platform that aims to address the inefficiencies of real-world enterprise and financial services, is planning to launch an NFT platform. The firm unveiled this news on April 8 through a tweet, noting that the platform would focus on artists. Allegedly, the NFT platform will be decentralised and will charge low fees to let artists onboard the NFT space.

Stratis announces plans to launch an artist-focused NFT platform
https://cryptonews.net/527980/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Avalanche AVAX Forum / AllianceBlock brings DeFi product suite to Avalanche

« on: April 08, 2021, 03:42:37 PM »

AllianceBlock, a decentralized layer-2 solution bridging traditional finance and DeFi, has announced major product integration with Avalanche, the up-and-coming “Internet of Finance” protocol.

Once completed, the product integration will allow users to access AllianceBlock’s DeFi Investment Terminal, P2P financial services, nonfungible token capabilities and KYC solutions directly on Avalanche. The partnership also includes development work with Ava Labs, the #DevelopmentTeam behind Avalanche.

Rachid Ajaja, founder and CEO of AllianceBlock, says both organizations share a common mission in promoting the growth of a compliant DeFi ecosystem:

“Avalanche’s mission of empowering people to build an open, simple, and democratic internet of finance is right in line with what we are doing at AllianceBlock; our multifaceted blockchain-agnostic protocol enables banks and their clients to simply, safely, and legally trade any crypto product.”
Avalanche has enjoyed considerable success since the launch of its Avalanche-Ethereum Bridge, or AEB, in February 2021. Since launch, transactions have increased by nearly 2,000% to over 1.1 million. Over 62,000 unique wallet addresses have been created.

The price of AVAX, Avalanche’s native cryptocurrency, has surged as a result. AVAX peaked near $60 in mid-February but has since pulled back to around $30. At current values, AVAX has a total market capitalization of $3.7 billion, placing it 35th among active projects.

The broader DeFi ecosystem has also registered significant growth amid the bull market, with total value locked exceeding $100 billion earlier this week. The sector’s TVL was less than $21 billion at the start of 2021.

AllianceBlock brings DeFi product suite to Avalanche
https://cryptonews.net/522810/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

DeFi tokens / ChainSwap raises $3M from investors including Alameda Research and NGC Ventures

« on: April 08, 2021, 03:39:24 PM »

Cross-chain asset bridge and application hub ChainSwap has closed a $3 million strategic funding round with participation from some of the biggest names in decentralized finance and the crypto industry.

In an April 7 announcement, ChainSwap stated that it raised the funds in order to accelerate its vision of creating a multi-chain and multi-asset application hub.

Participants included some big names in crypto and DeFi such as Alameda Research, OKEx’s venture arm OK Block Dream Fund, NGC Ventures, Spark Digital Capital, Metaconstant Ventures, CMS Holdings, Rarestone Captial, SRC Capital, DAO Ventures, and a number of others.

The ChainSwap platform allows projects to seamlessly bridge between Ethereum, Binance Smart Chain, and the Huobi Eco Chain (Heco). It plans to add cross-chain solutions for Bitcoin, Polkadot, and Solana in the future and has already begun with a Polkastarter bridge launched on March 21.

The protocol currently supports 18 tokens from various platforms including stablecoins RAI and FEI, Polkastarter’s POLS, Vortex VTX token, Strongblock’s STRONG, and a number of more obscure listings which can be seamlessly swapped between the three currently supported blockchains.

It plans to launch its own token which will be airdropped for protocol users and holders of the AntiMatter token, MATTER. AntiMatter Finance is a lightweight on-chain DeFi perpetual derivative protocol currently running on testnet.

ChainSwap is one of a number of multi-chain platforms entering the DeFi space in recent months. Decentralized liquidity network THORChain will be launching what it calls a “multichain chaosnet” (MCCN) on April 13.

The multi-chain AMM will compete with the likes of Uniswap v3 when it goes live in early May. Thor’s native token RUNE rallied to all-time highs in late February after Multicoin Capital revealed it had accumulated a large position.

ChainSwap raises $3M from investors including Alameda Research and NGC Ventures
https://cryptonews.net/523546/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

DeFi tokens / DeFi lending protocol, CREAM Finance is introducing protocol-to-protocol flash l

« on: April 08, 2021, 03:37:26 PM »

There’s a reason decentralized finance (DeFi) is one of the hottest phenomena in the crypto sphere. It presents a myriad of seemingly endless opportunities that make up this new frontier in finance. The latest to strike another goldmine is the popular lending platform, CREAM Finance.

Its Iron Bank will introduce protocol-to-protocol flash loans to DeFi. The concept is an industry’s first of its kind and will open a new chapter in the booming market.

CREAM Finance expects protocol-to-protocol lending to burgeon in the coming months, beyond the traditional peer-to-peer market. It also expects cross-protocol corporate lending soon as DeFi continues to stake claims in global finance. Iron Bank aims to meet these prospective needs in the fast-changing business world.

CREAM Finance to Introduce Protocol-to-Protocol Flash Loans
https://cryptonews.net/524556/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Bitcoin News & Updates / Bitcoin Drops 6% in Korea, Shrinking the 'Kimchi Premium

« on: April 07, 2021, 03:00:23 PM »

Bitcoin’s Kimchi premium, or the difference between prices on South Korean exchanges and other global avenues, declined on Wednesday as the cryptocurrency lost ground against the Korean won (KRW).

The price gap narrowed to 16% during the European hours, as bitcoin fell by over 6% to KRW 70,412,000 on Upbit exchange – the largest in South Korea as per trading volumes, according to data source CoinGecko.
The price pullback happened after the exchange suspended KRW withdrawal and deposit service at 14:47 local time (5:47 AM UTC).

"Bitcoin dropped after Upbit announced withdrawal suspension," Ki-Young Ju, CEO of the Korea-based blockchain analytics firm CryptoQuant told CoinDesk in a Telegram chat.
"But there's also the possibility that someone figured out how to arbitrage the Kimchi premium opportunity," Ju added.
The Kimchi premium had swelled to a three-year high of 22% early today in a sign of retail frenzy.
However, executing a classic arbitrage strategy by purchasing bitcoin on western exchanges and dumping on Korean platforms is quite challenging because local exchanges only allow trading in KRW pairs, as discussed on Tuesday.
Some whales have been depositing coins on Korean exchanges, as tweeted by Ju. Investors typically move coins to exchanges when they want to liquidate their holdings.
Analysts say a potential dump in South Korea may not significantly impact bitcoin's global average, as the Asian giant now contributes less than 2% of the worldwide trading volume versus 8% in 2017.
Bitcoin is currently trading near KRW 73,000,000 on Upbit and changing hands at $57,500 on major western exchanges – down 1% on the day, as per CoinDesk 20 data.

Bitcoin Drops 6% in Korea, Shrinking the 'Kimchi Premium'
https://cryptonews.net/521154/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Bitcoin News & Updates / Bitcoin Weakens Amid Slower Volume; Support Around $54K

« on: April 07, 2021, 02:58:35 PM »

Sellers remained active during Asia hours as bitcoin (BTC) trades below its 50-period volume-weighted moving average on the four-hour chart. Resistance around $60,000 has set the tone for profit taking, with lower support seen around $54,000.

BTC has traded in a range between $50,000 and $60,000 over the past month and has since retraced about 20% of the rally from the March 25 price low.
Volume has significantly slowed over the past two weeks, which is typical of a consolidation phase and could lead to sharp price moves.
On the daily chart, trading volume peaked on January 11 and has since declined despite the continued price rise. This indicates slowing upside momentum and is consistent with lower highs on the 14-day relative strength index (RSI) explained in previous posts.
Selling pressure should continue to cap upside moves on intraday charts as buyers await stronger support around $54,000 and $50,000.

Bitcoin Weakens Amid Slower Volume; Support Around $54K
https://cryptonews.net/521466/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Bitcoin News & Updates / Bitcoin Rangebound With Support Near $57,900

« on: April 06, 2021, 03:25:34 PM »

Bitcoin (BTC) traded lower during Asia hours as buyers took profit near the $59,000 resistance zone. But selling pressure was limited near $57,900 support. Momentum signals are neutral over the short-term as BTC continues to consolidate.

The relative strength index (RSI) on the hourly chart signaled overbought conditions yesterday. This preceded a near 3% selloff during Asia hours.
Buyers continue to defend rising support levels from the April 3 price low around $56,500.
For now, BTC continues to trade above its 50-period volume weighted moving average on the hourly chart, which helps to define support and resistance levels during intraday price swings.
BTC has retraced roughly half of its near 6% selloff from April 1, although price action has been rangebound over the past month.
“A consolidation phase is underway as overbought conditions are absorbed,” wrote Katie Stockton, managing partner of Fairlead Strategies. “A breach of the 50-day moving average near $54,000 would be a reason to manage risk of a pullback given the first major support is uncomfortably far below near $42,000.”

Bitcoin Rangebound With Support Near $57,900
https://cryptonews.net/518542/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Crypto Exchanges / Bitcoin miner firm Ebang launches Ebonex crypto exchange

« on: April 06, 2021, 03:23:48 PM »

Ebang, a publicly-listed company providing mining hardware for cryptocurrencies like Bitcoin (BTC), has officially announced the launch of its own crypto exchange.

According to an announcement on Monday, qualified investors will be soon able to register and trade on Ebang’s cryptocurrency exchange dubbed Ebonex.

Ebang CEO and chairman Dong Hu said, “In recent years we have made a considerable investment in R&D talent recruiting, as well as product innovation and iteration. The launch of our cryptocurrency exchange business will not only expand the revenue sources from our cryptocurrency business, but also optimize the development of our blockchain industry chain.”

Ebonex supports major cryptocurrencies like Bitcoin and Ether (ETH), as well as stablecoin Tether (USDT). Other supported coins include Litecoin (LTC), Cardano (ADA), Zcash (ZEC), Dash (DASH), Tezos (XTZ), EOS and Monero (XMR).

The exchange initially launched in an invite-only beta phase in mid-March.

The announcement did not mention which jurisdictions are eligible to trade on Ebang’s new crypto exchange. Ebang did not immediately respond to Cointelegraph’s request for comment.

As previously reported by Cointelegraph, Ebang was listed on the Nasdaq Global Market under the ticker EBON in June 2020, becoming the second Bitcoin miner manufacturer to go public on a United States stock exchange after Chinese crypto mining firm Canaan.

Bitcoin miner firm Ebang launches Ebonex crypto exchange
https://cryptonews.net/515846/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

Bitfinex / Bitfinex Pauses XLM Withdrawals Due to Issues on Stellar Blockchain

« on: April 06, 2021, 03:21:04 PM »

The CTO of Bitfinex and Tether, Paolo Ardoino, has just tweeted that the Bitfinex exchange has held up XLM withdrawals due to issues on the Stellar blockchain.

According to the announcement made by the Stellar team, there are some issues with the Stellar Horizon service. Some validators have dropped out of the network. The team is working to solve this problem.

The SDF horizon endpoint will be the first to restore.

Bitfinex Pauses XLM Withdrawals Due to Issues on Stellar Blockchain
https://cryptonews.net/518518/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / Mark Cuban, Snoop, Ashton Kutcher Team for NFT Twist on Shark Tank

« on: April 06, 2021, 03:18:30 PM »

Mark Cuban, the billionaire investor and Dallas Mavericks owner, is about to merge two of his side gigs: judging reality competitions and promoting crypto innovations.

Cuban will be taking part in a reality competition held by Ashton Kutcher’s and Guy Oseary’s Sound Ventures. Only instead of judging new inventions, Cuban will be evaluating potential NFT businesses.

Working on NFTs? Pitch your idea LIVE to me @guyoseary @WhaleShark_Pro @mcuban @3LAU @SnoopDogg @Metakovan @ljxie. $1,000,000 will be invested to discover/support the most innovative. Apply by 4/12 https://t.co/VunVElSWYC

— ashton kutcher (@aplusk) April 5, 2021

Sound Ventures, an LA-based startup investment firm, is throwing $1 million behind “NFTs: The Pitch,” a behind-closed-doors (virtual) competition that’s currently taking applications for a pitch session to be held April 21. It was founded in 2015 by Kutcher and Oseary, an entertainment industry insider who has managed U2, served as Madonna’s business partner, and helmed Maverick Records as it developed Alanis Morissette into a household name.

Cuban will join Oseary and Kutcher in judging the competition, along with NFT-producing musicians Snoop Dogg and 3LAU, pseudonymous NFT art collectors Whale Shark and Metakovan (who was recently revealed to be Vignesh Sundaresan of Portkeys Technology), and Scalar Capital co-founder Linda Xie.

Sound Venture’s NFT page says the competition is open to “anyone around the world who is innovating with NFTs whether it's just an idea or a product in market.” It’s not looking for one-and-done NFT ideas, however. “Those applying should be interested in building a company over the long-term,” the FAQ reads.

NFTs, or non-fungible tokens, are blockchain-based digital assets that prove ownership of unique or rare items. They’re predominantly used in conjunction with digital art, music files, and collectibles.

And they’re very popular, as Kutcher, Snoop Dogg, and Cuban’s participation would suggest. Cuban, in particular, has been investing a lot of money into cryptocurrency and NFTs of late. He, along with Sound Ventures and others, contributed to a $9 million Series A for NFT art marketplace SuperRare last week. He’s also put his money into NFT-base social media platform Nifty’s as well as DeFi and NFT data platform Esprezzo.

He’s clearly aware of the trend. Three top NFT marketplaces for March—basketball trading card marker NBA Top Shot, pop art site CryptoPunks, and fantasy soccer game Sorare—combined for more than $310 million in sales last month. That’s without counting figures from NFT art marketplace OpenSea, collectible marketplace Nifty Gateway, or even Christie auction house’s standalone $69 million sale of a Beeple original to Metakovan.

Given those figures, $1 million may not be enough.

Mark Cuban, Snoop, Ashton Kutcher Team for NFT Twist on Shark Tank
https://cryptonews.net/517038/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / F-ck a Museum’: CryptoPunks NFTs Hit the Streets of Miami

« on: April 06, 2021, 03:17:14 PM »

Non-fungible tokens (NFTs) might be selling for outrageous sums, but don’t worry: you’ll soon be able to see them in all their glory—for free—plastered around Miami, Florida.

As of next week, CryptoPunks, one of the most popular (and expensive) NFTs, will be billboarded all over the Magic City in a month-long exhibition, Pixelated.

In partnership with SaveArtSpace, a nonprofit that launches art exhibitions in the place of advertisements, 96 of the Ethereum-based digital characters will be on show.

But what’s an NFT? And why is everyone going nuts for them?

NFTs are unique digital token">tokens, mostly on the Ethereum network, that can represent just about anything online, such as artwork, audio or video content. A boom in interest in them has led big spenders to splash tens of millions of dollars on the digital goods.

The visual art side of NFTs is probably the most lucrative. Proof of how seemingly out-of-control the craze is? One digital artist, Mike Winkelmann (better known as Beeple), last month sold an image file for $69 million.

CryptoPunks also go for a lot. One of the first NFTs to be created back in 2018, the 10,000 unique collectible characters have proof of ownership stored on the Ethereum blockchain">blockchain. And people love them: one computer-generated avatar of a pipe-smoking alien once sold for $7.5 million. All in all, CryptoPunks generated $96 million in sales last month.

Punk 1886 has a new bid of 350 ETH ($734,478.50 USD) placed by 0xa524d8. https://t.co/myXCAaxa6E #cryptopunks pic.twitter.com/LXicChVMEr

— CryptoPunks Bot (@cryptopunksbot) April 5, 2021

One of the organizers of Pixelated, Gmoney, a pseudonymous investor with an interest in Ethereum and NFTs, told Decrypt: “By displaying punks in the real world, we want to show the world subset of people in society who have found value in punks.

“People either love NFTs or hate them. This is a way to showcase that they are art and that they’re a new medium for creators to showcase their work.”

The idea came about thanks to artist and SaveArtSpace Co-founder Justin Aversano who wanted to introduce the public to the world of Ethereum-based digital art. He got in touch with Gmoney to curate it.

Punks Miami Takeover April 12

— gmoney.eth (@gmoneyNFT) April 5, 2021

“I thought, fuck a museum—why not put CryptoPunks on billboards,” Aversano told Decrypt. “The idea is to marry the digital and physical worlds by displaying public art.”

Why the NFT Boom Feels So Much Like Gambling
The two art and crypto lovers raised the cash for the exhibition via donations from CryptoPunk buyers. Over $96,000 was raised to allow for the show to go ahead.

The art will be shown on billboards and bus shelters around Miami from April 12 for at least one month.

A pop-up exhibition will also take place on April 15 at 69 East 41st St. Miami, Fl.

‘F-ck a Museum’: CryptoPunks NFTs Hit the Streets of Miami
https://cryptonews.net/517094/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared

NFTs & Collectibles / NFTs Slammed by Legendary Investor Naval Ravikant, Here's Why

« on: April 05, 2021, 05:25:51 PM »

Naval Ravikant, legendary angel investor and entrepreneur, has taken to Twitter to share his views on the red-hot segment of non-fungible tokens.

NFTs lack provable scarcity
In his latest thread, Mr. Ravikant compared NFTs to Bitcoin (BTC) and other mainstream cryptocurrencies. He admitted that the nature of NFT scarcity is different from that of its predecessors.

NFTs are monetized memes
Any owner or creator of off-chain artwork or documents that is represented by an NFT can corrupt it. Thus, only a passionate surrounding community can verify the intrinsic value of this or that non-fungible token.

Just as HODLers imbue Bitcoin with value, and developers infuse Ethereum with value, collectors, admirers, and users imbue NFTs with value. NFTs gain value when displayed, used, and promoted within vibrant and growing communities.

As a result, when the community around NFTs is active and growing, the value and prices of NFTs soars. Otherwise, if community interest plummets, the whole segment starts bleeding.

So, for Mr. Ravikant, NFTs are more about multilateral social contracts between their creators, traders, intermediary platforms and enthusiasts. This is in contrast to the "don't trust, verify" motto of the decentralized segment.

"Very little value"
Therefore, mostly, non-fungible tokens will have very little value. Meanwhile, as with "physical" artwork, some of them will be easily recognizable. Should this be true, every physical object will eventually mint its own blockchain-based avatar, Mr. Ravikant concluded.

He added that this take is influenced by the Winklevii twins, American crypto billionaires.

As covered by no link shorteningday previously, Bloomberg indicated the decline in public interest in NFTs. That immediately resulted in a freefall of the price.

In early April 2021, the average NFT price is down 70 percent compared to the February peak.

NFTs Slammed by Legendary Investor Naval Ravikant, Here's Why
https://cryptonews.net/515698/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared