Crypto Guides, Knowledge & Insights

The Next Move For Jack Dorsey After Stepping Down From Twitter Is To Fully Immerse Himself In BTC

Jack Dorsey has announced his retirement as CEO from Twitter, handing the reins to Parag Agrawal.　　Analysts point that Jack Dorsey now has free time on his hands to immerse himself in Bitcoin.　　The 45-year old has shown a deep interest in Bitcoin with his fintech company Square holding BTC on its balance sheets.　　Jack Dorsey steps down from his role as Twitter CEO leaving him with spare time. Analysts have pointed out that the allure of cryptocurrencies was simply hard to resist for the ex-twitter CEO.　　From Twitter To Bitcoin　　In an internal memo to the Twitter team, Jack Dorsey made known his decision to step down from his role as company CEO. he revealed that company CTO, Parag Agrawal will become the new CEO while Bret Taylor will become the board chair. Being a known Bitcoin believer, it is difficult to imagine Jack Dorsey working on something different aside from Bitcoin.　　“If I were not at Square or Twitter, Id be working on bitcoin,” said Dorsey at a Bitcoin conference this year. “If it needed more help than Square or Twitter, I would leave them for Bitcoin.”　　His interest in Bitcoin ran deep and in 2018, he referred to the Bitcoin Whitepaper as nothing but

2021-12-01Deep Dive

Softbank Set to Invest $150 Million in Female Dominated Metaverse Project Zepeto

Softbank, a Japanese multinational conglomerate holding company is reportedly the latest to join the Metaverse mania. The firm is reportedly in talks to invest $150 million in the South Korean Metaverse platform Zepeto, as per a report in WSJ.　　Zepeto is considered one of the fastest-growing Metaverse platforms in South Asia boasting 2 million daily users. The platform allows users to build a digital avatar by simply scanning a photo and roaming in the metaverse while interacting with other users. 70% of the platform users are female between the age of 13-24 years, making it one of the rare platforms dominated by female users.　　“We‘re probably the world’s largest virtual fashion marketplace,” said Rudy Lee, the chief strategy officer at Naver Z Corp., a subsidiary of the South Korean internet giant that operates Zepeto.　　Zepeto reported 47 million users on its platform in their quarter making it one of the busiest metaverse platforms. Softbank‘s $150 million investment would give it a valuation of over $1 billion, making it one of the early metaverse unicorns. Apart from Softbank, the Series B funding round saw participation from South Korea’s HYBE Co. the firm that manages the popular K-pop group BTS is set to invest nearly

2021-12-01Deep Dive

FIRST BITCOIN ETF TO PAY MONTHLY YIELD LAUNCHES IN CANADA

Canadian investors can now receive a monthly bitcoin yield through a new exchange-traded fund (ETF) listed on the Toronto Stock Exchange (TSX), reported Yahoo Finance. The Purpose Bitcoin Yield ETF employs a derivatives-based covered call strategy to pay investors a monthly yield.　　The fund was created by Purpose Investments, the asset manager that launched the first bitcoin exchange-traded fund (ETF) in North America. The pioneering product launched in February broke records in its opening week after trading $80 million worth of shares within the first hour and $200 million on its first day.　　The firms new bitcoin yield offering began trading today on the TSX under the ticker symbol BTCY.B with a management fee of 1.10%.　　Purpose Investments said it couldnt guarantee the yield paid out per month because of volatility, but it expects an annual yield of between eight and ten percent, per the report. The yield is classified as income in registered accounts.　　When asked to what kind of investor the fund would appeal, chief operating officer and head of product at Purpose Investments, Vlad Tasevski, told Yahoo Finance that investors should consider the ETF “if they want to earn yield while they hold them” as it allows the generation of “additional

2021-12-01Deep Dive

The Reasons Behind Digital Currency Group Picking Connecticut as New Headquarters

Digital Currency Group (DCG) is moving to Connecticut, and with this relocation, the company aims to generate over 300 jobs over the next five years. Barry Silbert cited the proximity to major metropolitan areas, infrastructure, talent, business-friendly environment, and facilities as the reasons behind the move.　　Cryptocurrency behemoth Digital Currency Group (DCG) announced relocating to Stamford, Connecticut, from its New York headquarters. Founded by Barry Silbert in 2015, DCG has emerged as a prominent investment company in the crypto sector, having invested in over 200 blockchain platforms.　　Digital Currency Groups (DCG) Objectives　　Going forward, Digital Currency Group plans on attracting new investment and creating job opportunities in Connecticut. For this purpose, it will reportedly get more than $5 million from the state contingent or the Connecticut Department of Economic and Community Development (DECD).　　The official reports also stated that DCG won‘t be the only one relocating. Four of its subsidiaries, such as the leading asset manager – Grayscale Investment, institutional trading platform TradeBlock, DSG Real Estate, and DSG’s new wealth management business, are also following along.　　Elucidating more on why DCG chose Stamford as the new base, the CEO of the Bitcoin and blockchain tech company, Barry Silbert, stated,　　“Its proximity to major metropolitan areas combined

2021-12-01Deep Dive

Top 5 DApps By Monthly Active Users

DApp developers must ensure their application secures traction in the blockchain world. As new models come to light, specific applications will prove more successful than others. Interestingly, three prominent use cases have become apparent in this industry, although blockchain games have made their mark.　　PancakeSwap (DeFi)　　Although many people would put PancakeSwap in the “exchange” category, the platform has become so much more than that. For all intents and purposes, it is a decentralized finance platform providing many use cases to users globally. Moreover, PS leverages the Binance Smart Chain, allowing for more efficient transactions. With 5.26 million active users this past month, it is the cream of the crop where DApps are concerned. Its monthly volume of $36.1 billion is also very impressive.　　Alien Worlds (Gaming)　　As one of three blockchain games in the DApps top five, Alien Words seems to attract more users than its competitors. That is a bit surprising, although a healthy sign for the industry. Alien Worlds resides on the WAX blockchain, which is rarely mentioned in App discussions these days. Its 1.64 million users generated $20.1 million in volume, both of which are more than healthy statistics.　　Axie Infinity (Gaming)　　Axie Infinity is by far the most talked-about gaming DApp

2021-12-01Deep Dive

Retail Giant Newegg Unveils Shiba Inu Support on Massive Billboard: SHIB to Be Accepted for Payments

A leading tech-focused retailer, Newegg, has announced its support for the meme cryptocurrency shiba inu (SHIB) with the launch of a massive billboard ad campaign. Newegg says it is set to accept shiba inu for payments in early December, which would be sooner than when AMC Theatres plans to add SHIB.　　 Newegg Launches Massive Ad Campaign for Shiba Inu　　Major online retailer Newegg (Nasdaq: NEGG) announced its plan to accept the meme cryptocurrency shiba inu (SHIB) for payments Tuesday.　　Newegg is one of the leading tech-focused online retailers in North America, with a global reach in Europe, Asia Pacific, Latin America, and the Middle East. Its platform focuses on computer parts, PC components, laptops, gaming systems, automotive parts, and office supplies.　　The announcement explains:　　“Newegg will begin accepting SHIB in early December, further cementing Newegg.com as a preferred destination for online shoppers who want to pay with cryptocurrency.”　　SHIB will be accepted “as a form of payment on its platform in time for the holidays,” Newegg emphasized. Tuesdays announcement follows a tweet the company made on Friday stating that SHIB is “coming soon” to Newegg.　　The SHIB acceptance announcement was made “on a grand scale with a massive digital out-of-home (DOOH) campaign displayed on The Reef,

2021-12-01Deep Dive

New Grayscale Solana Trust Set to Offer Exposure to SOL for More Investors

The major digital asset investment firm Grayscale has launched a new solana (SOL)-backed regulated investment product in the US, opening up exposure to the smart contract and decentralized finance (DeFi) space for more investors.　　The new product, known as the Grayscale Solana Trust, is already listed among Grayscale‘s other digital asset investment products on the company’s website. According to the listing, the fund already has USD 9.5m under management, and comes with a 2.5% annual management fee.　　The trust will “solely and passively hold the underlying asset,” while assets will be raised for the trust through a regular private placement offering, Grayscale wrote in an announcement of the new product today. The Solana Trust is only available to accredited investors (institutional investors, as well as some high-net worth individuals) and will also require a USD 25,000 minimum investment.　　Commenting on the new investment product to Forbes, Grayscale CEO Michael Sonnenshein said that there is “a continued appetite to invest in Solana” among investors, and that it is “a more cost-effective blockchain” than Ethereum (ETH).　　“Whats been interesting about Solana is that it gives users the ability to learn, experiment, and build,” Sonnenshein was quoted as saying. “They generally have more budget to experiment on

2021-11-30Deep Dive

8 of the top 10 NFTs sales last month have been Bored Apes and CryptoPunks

In the last 30 days, eight of the 10 highest NFT sales have been four Bored Apes and four CryptoPunks, according to NonFungible.com. The other two NFTs sold were a plot of land in Decentraland and a digital art piece created by XCOPYART called “A Coin for the Ferryman” for 1,330 ETH ($6 million, becoming the highest sale).　　The highest Bored Ape (#544) was sold for 675.01 ETH ($2.81 million) on November 22 and the highest CryptoPunks was sold for 500 ETH ($2.38 million) on November 11.　　In fact, according to OpenSea, the Bored Ape Yacht Club was the highest-selling NFT collection based on the monthly volume traded on their platform with a total volume of 44.8 thousand ETH (approximately $193 million) as referenced below.The most popular NFT collections — CryptoPunks and Bored Ape Yacht Club　　The CryptoPunks NFT collection was created in 2017 by Larva Labs as 10,000 uniquely generated pixelated characters on the Ethereum Blockchain. Minting was available for free to anyone with an Ethereum wallet. CryptoPunks are known as one of the earliest NFT projects. Celebrities such as Jay Z and Snoop Dog have acquired punks, and two months ago, Larva Labs announced a deal with one of the top

2021-11-30Deep Dive

8 of the top 10 NFTs sales last month have been Bored Apes and CryptoPunks

In the last 30 days, eight of the 10 highest NFT sales have been four Bored Apes and four CryptoPunks, according to NonFungible.com. The other two NFTs sold were a plot of land in Decentraland and a digital art piece created by XCOPYART called “A Coin for the Ferryman” for 1,330 ETH ($6 million, becoming the highest sale).　　The highest Bored Ape (#544) was sold for 675.01 ETH ($2.81 million) on November 22 and the highest CryptoPunks was sold for 500 ETH ($2.38 million) on November 11.　　In fact, according to OpenSea, the Bored Ape Yacht Club was the highest-selling NFT collection based on the monthly volume traded on their platform with a total volume of 44.8 thousand ETH (approximately $193 million) as referenced below.　　The most popular NFT collections — CryptoPunks and Bored Ape Yacht Club　　The CryptoPunks NFT collection was created in 2017 by Larva Labs as 10,000 uniquely generated pixelated characters on the Ethereum Blockchain. Minting was available for free to anyone with an Ethereum wallet. CryptoPunks are known as one of the earliest NFT projects. Celebrities such as Jay Z and Snoop Dog have acquired punks, and two months ago, Larva Labs announced a deal with one of the top

2021-11-30Deep Dive

The adoption of enaira in Nigeria: the journey so far.

There is generally a very poor acceptance of the CBDC introduced launched last month by the Nigerian government amongst the Nigerian citizens. Many believe that there exists no difference between its structure and function with the normal online banking app. Critics rather consider it as a subtle means intended to generate income for the government to the detriment of the citizens. The illiterate class on their part have refused to welcome it for fear of fraud and Yahoo guys dealings within the country. All eyes are on the Nigerian government to redefine the functions and structure of the CBDC to suit the demand of the global Cryptocurrency operations and not just an ordinary fiat for online transaction with subtle cost attached.　　Nigeria with the introduction of the central bank digital currency (CBDC) has become the first country in Africa to launch its own central bank digital currency. Officially Nigeria has commenced the use of the CBDC dubbed eNaira which was unveiled at State House by President Muhammadu Buhari last month on Monday 25 October.　　The CBDC has been designed to increase remittances, foster cross-border trade, improve financial inclusion and enable the government to make welfare payments more easily.　　What is the eNaira？　　The eNaira

2021-11-30Deep Dive

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