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Cryptocurrency market experienced a fascinating trend in the form of meme coins. The space provides an avenue for enthusiasts to create digital currencies based on [...]
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Now that inflation expectations have begun to fall and the Federal Reserve appears increasingly likely to pivot, bullish sentiment seems to have returned to the [...]
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Urban dictionary defines “whale” as “in sales terms, a whale is a prospect that is significantly larger than an organisation’s average customer”. In cryptocurrency, a “whale” has come to mean a large holder of a particular coin. Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today. While Bitcoin is ... Read more
<p>The post Who are the biggest Bitcoin whales? 25 stats on the most powerful Bitcoin investors | Invezz first appeared on CCNC.</p>
The broader cryptocurrency is slightly bullish with most cryptos flashing green as bulls fight to undo yesterday’s losses. The flagship cryptocurrency Bitcoin (BTC) has risen [...]
It has been a volatile week for cryptocurrencies, especially Bitcoin and Ethereum, which rose following the optimistic CPI report, only to see the gains wiped [...]
Victoria VR, the metaverse company that builds the world’s first blockchain-powered realistic virtual reality metaverse, was the standout project at EGX London, the UK’s biggest gaming event, which was held between September 22 and 25.
At the event, Victoria VR garnered interest from a large number of guests as it gave them a taste of its unique metaverse project through a VR headset. The company revealed its novelties, answered questions, and presented its team to EGX visitors.
EGX (formerly known as Eurogamer Expo) is a video game event held annually in the UK and Germany. The trade fair is organized by Gamer Network, a British video game-oriented media company.
Victoria VR’s event began by holding a keynote presentation at the Czech Embassy. This decision was due to the fact that the company’s main office is in Prague, Czechia.
Yesterday was amazing! We would like to thank the Embassy of the Czech Republic for having us.??
Today @EGX London is starting and we are excited to give all visitors a taste of our project!#EGXLondon is on till 25th September, so everybody from the area is welcome. ????$VR pic.twitter.com/rn8VFHb2rr
After this presentation, Victoria VR proceeded to the convention center ExCel London, which hosted the 5-day video gaming exhibition.
Victoria VR’s booth attracted a wide range of people thanks to the excitement that surrounds its metaverse project.
It’s day 3 at #EGXLondon. ????
The number of visitors to our booth is really huge and starts with the youngest players because Victoria VR is open to all generations! ??#VictoriaVR $VR #VR #Metaverse pic.twitter.com/a2eSW3bKkM
Following this latest event, the Victoria VR team revealed that it would continue to build the world’s first blockchain-powered realistic metaverse with MMORPG (massively multiplayer online role-playing game) elements.
The team said it is dedicated to ensuring that everyone can explore and interact with this unique virtual world for free.
Victoria VR believes that it is building more than just a gaming ecosystem. The team said the virtual world could replace the current experiences of entertainment, business communication, shopping, learning, and more.
The company intends to develop a virtual realistic world where users can come to play, rest, work, shop, and learn.
Victoria VR is unique thanks to its high-quality realistic graphics powered by Unreal Engine, which has been used by reputable gaming studios in the US and worldwide.
The Unreal Engine is fully upgradeable, so gaming projects built on it can conveniently adapt to the ever-changing interests of gamers.
Victoria VR said its ecosystem would integrate online games, decentralized apps, and virtual realities. All assets will be hosted on blockchain as non-fungible tokens (NFTs).
The team said its realistic virtual world would offer many play-and-earn experiences, which is an evolution from the controversial play-to-earn (P2E) model.
According to Victoria VR co-founder and COO Adam Bém explained in a recent interview, P2E can often turn gaming into a job, taking away the fun and entertainment factor.
Victoria VR said 2023 would be an important year as it looks to release most of the content for its virtual world. Recently, Victoria VR released the VR Island Teaser, which shows its incredible realistic world with breathtaking views.
Breathtaking views, water, trees, nature, mountains, beaches, and more… it can only be one thing, our brand new Victoria VR Island Teaser is here!??
This is your world, this is Victoria VR, and we cannot wait to welcome you in.????#VictoriaVR #VR $VR #Metaverse pic.twitter.com/57nJTKb7UG
The post Victoria VR puts on a show at UK’s biggest gaming event appeared first on Invezz.
Now that September has begun, markets seem to be just reeling from the Federal Reserve’s more hawkish stance than they expected.
In sync with the stock market, the crypto market tumbled after the Federal Reserve expressed its hawkish views on Friday, August 26. During the Jackson Hole economic symposium in Wyoming, Fed Chairman Jerome Powell said the Fed will keep raising interest rates until inflation is contained. He pointed out that history cautions against prematurely easing policy, citing the June FOMC projections for a federal funds rate slightly below 4 percent by 2023.
The Federal Reserve learns three lessonsAccording to Powel, the Fed learned three lessons from inflation in the 1970s and 1980s. To begin with, the central bank must take responsibility for ensuring low and stable inflation. Next is an interesting one – if consumers expect inflation to be low and stable, it will be. In plain English, if you convince people that everything will be alright, it will be alright. Here’s some evidence to support this theory – consumer confidence in the US rose for the first time in four months in August, according to the latest Conference Board report.
The third lesson is to keep going no matter how long it takes – stay focused on your chosen path.
Powel continued by explaining that the pain associated with rate hikes, a slowdown in economic growth (probably a carefully chosen phrase for describing a recession) and a softer labor market would all be better than the pain if the Fed had not taken such an aggressive approach.
“These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain,” he said. Well, that does make sense. There’s no pleasure without pain, after all.
The Dow slumped 3% following Powell’s path of pain scenario, while the S&P 500 and Nasdaq Composite dropped even more. Bitcoin also dropped 6% for the day, following the trail of its traditional market counterparts.
There was some hope for investors in the data out prior to the Fed’s decision, when consumer spending edged up slightly and inflation eased, suggesting the central bank may consider easing its monetary policy. However, those hopes were dashed, and the markets reacted accordingly.
Recessions usually begin with some of the most typical preludes such as macroeconomic uncertainty, geopolitical instability, inverted yield curves, and a perception of impending recession – they are all intensifying at the moment.
We’re seeing a deepening inversion of the yield curve, with higher yields for 2-year government bonds and lower yields for 10-year bonds, although the latter carries higher risk.
Source: Fred.stlouisfed.org
As an example of how deep it could sink, early in the 1980s, when Paul Volcker raised interest rates to 20% to fight inflation, the yield curve fell to more than 200 basis points below zero.
Markets are now pricing in higher interest rates, so will selling pressure continue? The S&P 500 averaged a 0.6% loss in September since 1945, historically the worst month for the index. Bitcoin has also been in the red in September for most of its history.
Source: Coinglass.com
Prior to the highly anticipated US August jobs report, a number of economic reports will see the light of day, including US construction spending and vehicle sales, affecting stock markets and thus cryptos. It is therefore worthwhile to pay attention to these.
The Merge’s contribution to the crypto marketAround September 15th, Proof-of-stake (PoS) Beacon Chain (ETH2) will swallow Ethereum (ETH1). What will this mean for the crypto market?
First of all, the argument that Ethereum, DeFi, and NFTs are harmful to the environment will be put to rest. Consequently, ESG-compliant institutions will find Ether an appealing investment.
The Merge will also result in fewer ETH tokens being issued. There is currently a 4.3% increase in the supply of ETH every year, which incentivizes miners to secure the blockchain. The Merge will give the validators exclusive control over block creation, reducing the energy required for Ethereum. With a decrease of ETH issuance, supply and demand will take over, driving the ETH price up. Beacon is secured by ETH staking and users are rewarded with block rewards for staking. Staked ETH cannot be withdrawn until six months after the Merge, which reduces its circulating supply as well.
From the perspective of the average user, although Ethereum is switching from proof-of-work to proof-of-stake, its entire history remains intact – your ETH funds in your wallet before The Merge will remain accessible following The Merge. You are not required to upgrade.
In addition to this, the Merge will allow users to protect the network at home instead of having to rely on institutions and large miners to do so. It will allow the network to become more decentralized and thus more resistant to attacks.
From the perspective of miners, it will be very difficult for them to choose whether to continue mining the current/ then old Ethereum chain and face numerous challenges or abandon it entirely and lose their profits.
It has already been announced by some exchanges that they will list a possible ETH POW coin after the Merge. From what we know so far, Poloniex, BitMEX, MEXC Global, Gate.io, and OKX will list ETHW. There is a possibility that DEXes like Uniswap may list ETH POW tokens even before CEXes. Additionally, traders can trade ETH POW futures similar to those offered on BitMex. This is a purely speculative market – it isn’t even guaranteed that the ETH POW token will exist.
Source: Ethereum.org
It is clear from Ethereum Classic’s continued existence that old and unused chains can still be valuable. However, contrary to previous Ethereum forks, this one comes with a large ecosystem of apps and tokens. There will be ETH-backed assets in an alternate network that miners will continue to carry on their shoulders. The Merge, for example, will result in you owning twice as much USDC and twice as much Ethereum NFTs. However, there has been widespread support for the POS chain from major exchanges, so it doesn’t matter in practical terms. All POW tokens, except for Ethereum POW itself, are likely to become worthless following The Merge.
Final thoughtsDoomsayers are always predicting a collapse during major market developments like The Merge or pressuring factors such as the Fed’s aggressive monetary policy. Crypto proponents have proven these doomsayers wrong as the market doesn’t die, and even attracts new investors. With $10 trillion in assets, Blackrock, the world’s largest investment manager, has entered the Bitcoin space. It would not have done so if Bitcoin’s value was zero. Cryptocurrency closely tracks stock market movements, but they are not the same in essence – crypto is a network similar to the internet rather than a firm with earnings and assets.
As Ethereum’s development progresses, it will also contribute to the adoption of itself and other cryptocurrencies.
In addition, all of this is happening during highly uncertain times, with inflation peaking, a recession already underway or imminent, and global financial disruptions, all of which are expected to drive up the adoption and prices of Bitcoin and Ethereum in the long run.
The post The Fed Policy and The Merge: Crypto’s two biggest moments? appeared first on Invezz.
A rapidly growing crypto market means that hacks and scams are accounting for less overall activity, and their percentage of total usage continues to decline.
Solana, NEAR and AVAX were all trading over 20% lower on Wednesday, as global crypto markets continued to fall on hump-day. The cryptocurrency market cap is currently down 6.35%, as traders continued to digest the recent crash in the price of LUNA and UST. Solana (SOL) Solana was down by over 20% during Wednesday’s trading […]
Will the XRP price go up in 2022? Is Ripple losing against SEC? Today we are joined by Ben of BitBoy Crypto to talk bitcoin, cryptocurrency, altcoins, & more! Subscribe to BitBoy: https://www.youtube.com/channel/UCjemQfjaXAzA-95RKoy9n_g All persons in this video are not financial advisors. The conversations are only opinions. Investing in cryptocurrency is very risky. DYOR. Follow […]
Stablecoins are an extremely interesting group of cryptocurrencies that are playing an enormously important role with the increasing institutional adoption of cryptocurrencies. They protect investors with a stable exchange rate against FIAT currencies. Their importance should continue to increase in the future.
If you are not yet familiar with this type of cryptocurrency, you should do so to understand the functions of the main stablecoins. We provide a top 5 guide that will tell you about the major stablecoins in the market.
What are stablecoins?Stablecoins are digital currencies whose price is tied 1 to 1 to another financial asset. The most popular of these coins are pegged to the US dollar. This gives investors in crypto assets the opportunity to convert their money into a more useful form in a market that is highly volatile. Before the introduction, converting FIAT money into cryptocurrencies was much more difficult.
How do Stablecoins work?When it comes to stablecoins pegged to the US dollar, there are 3 different types of stablecoins:
Tether was originally launched as a real coin in 2014. It is the largest and most well-known stablecoin on the market. Tether has a market cap of $80.88 billion, making it the 4th largest cryptocurrency. It is available on 400+ crypto exchanges.
Despite its excellent functionality and status as a market leader, Ether has recently come under fire as the company has repeatedly denied investigations and had to pay fines for criminal activities in the US. Despite these difficulties, Ether has performed excellently as a stablecoin since its inception.
#2 USD Coin (USDC)The USD coin was introduced by the Coinbase exchange in 2018 . USDC is now the second largest stablecoin with a market cap of $52.6 billion. This puts him in 5th place behind Tether at Coinmarketcap.
The USDC is available on almost 300 exchanges and works extensively with financial institutions and regulators. Unlike Tether, monthly investigations take place at the USDC.
#3 Binance USD (BUSD)After Coinbase launched USD Coin, the world's largest crypto exchange Binance followed soon in 2019 when it launched its own stablecoin. The market capitalization is 17.66 billion US dollars. This makes BUSD number 12 on Coinmarketcap. BUSD is only available on just over 100 exchanges but benefits from powerhouse Binance.
Binance users benefit from 0% transaction fees on BUSD. Furthermore, they can earn an income of up to 15% per year through lending. Among the top 3 stablecoins, BUSD is the only one allowed by WallStreet regulators.
4. Terra USD (TUSD)The Terra USD is the most recently launched and the fastest-growing stablecoin among this selection. The launch took place in September 202 on the Terra Blockchain. Right now, the algorithmic stablecoin is #4 among stablecoins and #14 overall, with a $15.68 billion market cap.
The Terra USD is kept stable by algorithms on the Terra Blockchain. It is a true decentralized stablecoin, unlike the top 3, as it is not backed by equivalents held centrally. Investors can earn up to 20% annual returns on TUSD using the Terra Anchor Protocol. You can find more information about Terra in this article.
5. Dai (DAI)Dai is the most popular collateralized stablecoin. At $9.92 billion, DAI ranks 19th among all cryptos by market cap. The Dai is available on over 200 exchanges.
The Dai is the product of the Maker Protocol, a decentralized application based on the Ethereum blockchain. The DAI uses smart contract to bind other crypto assets like Ethereum and generate new stablecoins through this security.
Are Stablecoins a Good Investment?You can buy stablecoins if you want to start with cryptocurrencies but are afraid of the high volatility first or want to get to know the processes first. However, of course, they do not bring in any income, since their value is stable against the US dollar.
You can make money from stablecoins over the long term, but it's just a slightly riskier alternative to a savings account. A diversified portfolio with "regular" cryptocurrencies is a better choice.
What are the risks of stablecoins?Since stablecoins have a "stable" price, they are generally considered the safest form of investment among cryptocurrencies. However, as an investor, you should know that stablecoins are typically highly centralized compared to "real" cryptocurrencies, which are completely decentralized. Tether, USD Coin, and Binance USD are all wholly owned by their parent companies.
The financial organizations that issue stablecoins accumulate power and money similar to normal banks, but without having to follow the normal regulations in the classical financial market. In recent years, the market capitalization of all coins has increased massively in a short time. As these types of cryptocurrencies become more and more involved in traditional financial markets, calls for more regulation are getting louder. They are also more vulnerable to a financial crash.
Concepts like the Terra USD are therefore becoming increasingly popular. The decentralized aspect of cryptocurrencies can also be used with stablecoins. However, this new form still offers the important price stability.
stablecoin© CryptotickerThe famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has made some gloomy predictions about the economy and the future of cryptocurrency. Besides warning that we are in the biggest bubble in world history, Kiyosaki has predicted that the government will seize all cryptocurrencies. Robert Kiyosaki Warns of the Biggest Bubble, […]
The City of Lugano in Switzerland, the most important Italian-speaking city outside of Italy, is not playing around. The goal of their “Plan B” is to “make Lugano the blockchain hub for the entire Europe,” according to Tether’s Paolo Ardoino. And it will probably succeed. The city wants to attract investment and talent, attract wealth and smart minds, and they’re putting their money where their mouth is. Why do they have to brand their plan using bitcoin’s name, though? In NewsBTC’s previous article about the project we were very critical, and even raised the possibility of this being an affinity scam. Bitcoin name is heavily used in all promotional materials, but the protagonists talk about blockchain and crypto like there’s no tomorrow. Why would Tether Ltd. and its partners not make this a crypto project and call it a day? We closed said article giving them the benefit of the doubt: “And here comes the Mayor of the city of Lugano and Tether to sing bitcoin’s praises. A “blockchain not bitcoin” guy and the organization behind the most controversial stablecoin. Even though it’s suspicious, let’s give them the benefit of the doubt and hear what they have to say. They might surprise us at the March 3rd conference. Maybe Lugano has a Plan B after all.” Do they have a Plan B? Let’s find out. Bitcoin Legal Tender In Lugano. And USDT. And LVGA The story’s headline is that Bitcoin, Tether, and LVGA, the city’s own cryptocurrency, will be legal tender in Lugano. Residents will be able to “pay all personal and corporate municipal taxes” in any of those cryptocurrencies. Besides that, the city’s authorities have already onboarded 200+ shops and businesses to accept them. There’s more though. You’ll be able to use bitcoin, USDT, and LVGA to pay for: public services, parking tickets, dog taxes, ID and passport issuance fees, naturalization fees, construction permit fees, boat docking fees, tuition and meal fees, garbage taxes, signature authorization, access to public infrastructure, access to public events, rental spaces for events, and cemetery taxes. Who Presented The News And What Did They Say? The panel consisted of: Michele Foletti, the city’s Mayor, who spoke in Italian. Jan Ludovicus van der Velde, CEO of Tether, who spoke via video. Pietro Poretti, economic development division for the City of Lugano. Paolo Ardoino, CTO of Tether The Mayor said that “Lugano is, historically, a land of technological innovation and freedom.” He believes that “Bitcoin, blockchain, and crypto” should be “disseminated and accessible to all.” And he’s convinced “that this journey will bring benefits to all the citizens and that’s why this is our commitment.” Jan Ludovicus van der Velde briefly recapitulated bitcoin’s history and talked about the value of open-source software. About cryptocurrencies, he said that while the adoption is wide scaled, in practice, “we lack the ability to exchange with the local bakeries and tailors. We lack the ability to pay for higher education or automobiles. We’re stuck waiting for the world to catch up to the future of financial freedom.” About “Plan B” specifically, van der Velde said, “We envision blockchain touching every facet of this city.” NEW: Switzerland's City of Lugano will "roll the red carpet" for #Bitcoin businesses and enthusiasts ?? pic.twitter.com/2hujg4V4wm — Bitcoin Magazine (@BitcoinMagazine) March 3, 2022 Paolo Ardoino stated that “with this Plan B we want to show that the tooling, the instruments, that we’re creating can be actually put to work in a local, controlled, vibrant environment like the City of Lugano.” While Pietro Poretti said that the plan was to “create the ideal conditions for companies to thrive.” They both carried the conference and announced everything else in this article. Ardoino also explained why they chose Lugano. Among other things: It’s in the center of Europe. Switzerland is safe and secure. The city is near big airports. It has forward-looking institutions and administration. BTC price chart for 03/04/2022 on Coinbase | Source: BTC/USDT on TradingView.com What Does Lugano ‘s “Plan B” Consists Of, Exactly? The only mention of something bitcoin-specific goes to Paolo Ardoino, who sang the Lightning Network’s praises and expressed his wishes for Lugano to be the “first wide adopter.” We know he meant after the legendary Bitcoin Beach in El Salvador, of course. Ardoino also announced a 100 million CHF fund “for start-ups that want to relocate here and want to put their headquarter here.” “Infrastructure partners like Polygon” made the fund possible. One of USDT’s versions runs on the Ethereum Layer 2 chain, and in this conference, we learned that LVGA, the city’s coin, also runs on Polygon rails. Besides that fund, Lugano’s “Plan B” consists of: A “Start-up hub for 25+ innovative companies” A “space for meetups and workshops open to the public.” “3+ million CHF investment into practical grassroot blockchain projects” “500+ student grants for education in bitcoin and decentralized technologies.” According to Poretti, this whole thing isn’t possible without “synergy with academia.” Announcing The Bitcoin World Forum From October 26th to 28th, at Lugano’s Palazzo dei Congressi, there will be a huge conference. So far, the confirmed speakers are Blockstream’s Adam Back, bitcoin ambassador Samson Mow, and the controversial Max Keiser. More guests are to be announced. Keep your eye on NewsBTC for following stories about the Bitcoin World Forum and Lugano’s “Plan B.” Featured Image: Lugano's Plan B announcement, screenshot from the video | Charts by TradingView
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