Why crypto strategists predict Ethereum to cross the $5000 mark before 2022

A new survey by Finder.com found several financial strategists peg a price target of $5,000 for Ethereum, more than 100% of its current value.  According to the forecast, fintech panelists have opined that the prices of Ethereum will continue to soar as 80% of applications are built on the Ethereum blockchain.  The panelists have also stated that Ethereum has carved its independent niche amongst other cheaper, faster blockchain networks like Avalanche and Solana, and are anticipating that the said crypto will maintain its usual pace by the end of this year.Ethereum Price Prediction for the year 2021  Three panelists—Julian Hosp, CEO of Cake DeFi, Joshua Fraser, head of the blockchain at Realfevr Pedro Febrero, and co-founder of Origin Protocol are of the view that Ethereum will remain bullish for the rest of the year, each anticipating its prices to close at a striking $10,000 mark.  “Ethereum at present is accommodating a large alternative financial system in DeFi which will continue to grow. It is set to become the main financial settlement layer of the world which will eventually reflect in its prices in the future,” said Fraser in a comment.  Out of five panelists, two of them have stated that Ethereum might have a bearish

2021-10-28Deep Dive

NFT featuring candid photos of Donald Trump is up for sale for 240 Ethereum

Creatd has announced its second NFT drop featuring three photographs of Donald Trump, including the one that displays him signing a chest of a model, as its website.  The NFT is currently priced at 240 Ethereum which is roughly $1 million in US prices.  Headquartered in New Jersey, Creatd has managed to draw considerable attention from Wall Street by selling an NFT featuring young Donald Trump. The digital image will include three natural photos of Trump, clicked long before his official runs as a former US president.  Non Fungible Tokens, or NFTs, are soaring high in value and have become increasingly popular among the masses. A non-fungible token is a unique digital identifier that cannot be replicated or copied and provides authentic sole ownership of digitized products such as images, audio, files, videos, and artworks to consumers.Creatd share prices receive a powerful boost amidst its latest NFT drop  The companys stock is heading 7.5% higher at present. The NFT will include a high-resolution JPEG and the buyer will also get a large 1/1 print of the said photograph in a gilded frame.  Creatd will be selling its collection of NFTs on a popular NFT marketplace called OpenSea. The photos of Trump have come from the

2021-10-28Deep Dive

Ankr launches $10 million fund to support DeFi and Web3 growth

Blockchain protocol Ankr today introduced Ankr V2, a decentralized web service (DWS) portal for Web3 development that empowers builders to create multi-chain systems, products, and services.   Ankr also announced that it will distribute more than $10 million in grants over a period of two years to bolster the growth of a distributed supercomputer and reward the creation of tutorials and education around Web3 development.  “Ankr is focused on improving the principles of autonomy and decentralization that are foundational to the success of blockchain technology. We believe the crypto economy needs a decentralized and trustless network where individual operators are incentivized to support blockchain networks and build better products”, noted Josh Neuroth, Head of Product at Ankr.What Ankr does and how the fund helps  Since 2018, Ankr has operated as a traditional service provider, deploying full nodes and validator nodes on behalf of users and networks, and offering hosting, public RPCs, APIs, and staking solutions.   Today, it serves more than 50 blockchains and L2 solutions, Ankr has launched more than 25,000 node end-points to 75,000 developers and processed more than $1 billion in crypto transactions monthly. Ankrs staking node infrastructure has over $500 million in total locked value, with over 200 node operators

2021-10-28Deep Dive

Crypto.com taps Hollywood actor Matt Damon to attract new users

Hollywood actor Matt Damon will join crypto services firm Crypto.com as a brand ambassador as the crypto exchange seeks to popularize its services among mainstream audiences in the US and beyond.   The move is part of a broader global marketing push for Crypto.com, which has grown its user base by ten times since 2020 amid rising interest in cryptocurrencies like Bitcoin.   Crypto.com will spend more than $100 million on the campaign, as ads starring Damon and directed by cinematographer Wally Pfister are to air in more than 20 countries.  “I‘ve never done an endorsement like this,” said Damon in an interview. “We’re hoping this is the beginning of a great long-term collaboration.” Crypto.com has also brought on mixed-martial artist Ronda Rousey, basketball star Carmelo Anthony, and snowboarder Lindsey Jacobellis.   Despite the endorsement, Damon, whos also an investor in Crypto.com, said he is rather conservative with his money and will typically “ride or die with the economy.”  Crypto.com is now linked with Formula 1, the Ultimate Fighting Championship, and Italy‘s top soccer league. It also has dealt with French soccer club Paris Saint-Germain, the Philadelphia 76ers, the Montreal Canadiens, and Formula 1’s Aston Martin Cognizant.  Cryptocurrency platforms like Crypto.com, FTX, and Coinbase are pumping

2021-10-28Deep Dive

India’s crypto law is expected in February 2022

India is in the process of introducing a new law that promotes cryptocurrency trading in the country. As per local news outlet Business Today Television, the country would most likely introduce its first crypto law in February.  A legal framework comprising essential regulatory laws is already in the making as the country plans to encourage crypto activities instead of imposing an outright ban on them.  The law intends to regulate cryptocurrencies as an “asset” class under the commodities section with clear clauses stating ethical taxation of transactions and gains.Indian crypto law could come in February  India‘s new crypto framework might be introduced along with the nation’s general budget. Officials at the Reserve Bank of India (RBI) have stated that the legal infrastructure of the law is already in its last stages. The watchdog is also in the process of fine-tuning the clauses involved to avoid any pitfalls.  Indian Finance ministry officials have also stated that the regulatory framework seeks an independent law that promotes cryptocurrency trading like any other investment, and is also making sure that the framework includes all necessary elements that would ensure safeguarding investors interest at all costs.  At present, India has no official regulatory body that directs cryptocurrency trading. The Indian

2021-10-28Deep Dive

BITCOIN HITS NEW ALL-TIME HIGH. SEC YET TO APPROVE PURE BITCOIN-BACKED ETF.

Bitcoin price hit a new all-time high of $67,000 on Oct. 20, The new high was slightly above the $64,895 high that was created in April 2021. But, the price turned for worse as the market deepened back to the $60,000 support. The bulls found it hard to hold the price at the new all-time high, and this raised concern about the market strength.  Data from TradingView revealed that BTCUSD hit a low of $59,953 on Bitstamp, losing over 7% in two days.  The price found support just below the $60,000 price level and rebounded quickly, but caution remained the name of the game as the price hovers around $61,000.  The price of Bitcoin is presently trading at $61,262 at publishing time.  The $62,000 zone was a crucial level to hold the price. And as the market went below it, a correction is still in place. The market had already created a lower high sequence at $65,000 and $63,700 on the 4hr chart.  $55,000 - $57,000 price zone is a good buy spot for Bitcoin as the correction deepens.  Being optimistic, as is customary, can only come from those adopting a long-term perspective. Popular Twitter analyst, TechDev, stressed that 2021 was still conforming to historical bull

2021-10-28Deep Dive

Wharton Business School to Accept Tuition Payment in Bitcoin, Ethereum

In brief  The crypto payment option is a first for U.S. universities.  The payment option relies on Coinbase Commerce.  The option is limited for now to a single course.  The Wharton business school at the University of Pennsylvania is launching an executive education program in blockchain and, fittingly enough, will let students pay for it in crypto—making it just the second American college to accept Bitcoin.  Starting today, students will be able to choose crypto from a tuition payment menu that also includes PayPal and credit cards. Those who do will be able to pay using Bitcoin, Ethereum or the USDC stablecoin.  Wharton will rely on Coinbase Commerce to process the payments. Coinbase charges merchants a 1% fee to use the service, but the school is not passing on the fee to students. According to a Coinbase spokesperson, payments can be made with any on-chain wallet.  For now, the crypto payment option is limited to those who enroll in the six-week executive education course, titled “Economics of Blockchain and Digital Assets,” which is offered online and aimed at professionals from the world of finance.  “It costs less than one Ethereum [token] at current prices,” notes Reed Cataldo, one of the course administrators.  The broader Wharton business school has yet

2021-10-28Deep Dive

Why Shiba Inu Is Far Better Than ‘Boomer Memecoin’ Dogecoin, According To Bloomberg Editor

Dogecoin was everyones favorite internet pup for a while. But Shiba Inu (SHIB) has taken over as the latest white-hot crypto asset. The price of SHIB has also enjoyed a dizzying rise in recent weeks, attracting the attention of many in the crypto community.  Joe Weisenthal, a Bloomberg Markets editor, and podcast host has suggested that SHIB is superior to Dogecoin. He highlighted the reasons he believes the self-proclaimed “Dogecoin killer” arguably takes the cake in a series of tweets on October 27.  SHIB Has Several Advantages Over DOGE  Mr. Weisenthal indicated that he wrote about Dogecoin in his latest newsletter, describing it as the “boomer meme coin”. In other words, Dogecoin has become boring while other meme coins like Shiba Inu take over.  He pointed out some advantages that make SHIB so much better than Dogecoin, including the fact that the crypto is undergoing development observing a fast-paced roadmap, it boasts its own decentralized exchange, has non-fungible tokens (NFTs), and cutting-edge smart contract functionalities.  Weisenthal also said one SHIB is nominally less expensive compared to one DOGE. For perspective, it costs roughly $0.23 to purchase one DOGE and $0.00005111 for a SHIB coin. Notably, nominal cheapness was DOGE‘s key selling point for a while

2021-10-28Deep Dive

Disney And VeVe Announce NFTs For Disney IP

VeVe has secured some massive IP partnerships in its early inception. This week, you can add Disney to that growing list.  Let‘s take a look at VeVe’s most recent announcement, and what it means for the broader landscape of digital collectibles.  Diversify The Disney Offering  What started as just a Marvel collaboration between VeVe and Disney is quickly expanding into more digital collectible rights for the platform. Expected IP has been highlighted to include the likes of Disney properties such as Star Wars, Pixar (Toy Story, Cars, etc.), and more. The announcement was first made public on VeVes Medium page.  The NFTs of Disney characters will be utilized as a promotional tool for Disney+. Which characters the partners will implement is yet to be released. Additionally, the NFTs will be described as “Golden Moments,” as the characters will include golden versions as NFTs.  VeVe is expected to begin unrolling these NFTs leading up to November 12 (which is ‘Disney+ Day’). NFT purchasers, for at least a select amount of the NFTs offered by VeVe, are expected to include a three-month promotional Disney+ subscription for individuals who arent already subscribed. Individuals who purchase the “Ultra-Rare” digital collectibles included in the release will received an extended promotional

2021-10-28Deep Dive

Bitcoin ATMs Double This Year, Exceed 30,000 Globally

Locations providing crypto ATM services have increased exponentially this year, according to data compiled by a major tracking site. Bitcoin ATMs have doubled in number since January and close to 80 countries now host teller machines exchanging cryptocurrencies with fiat money.  Over 30,000 Bitcoin ATMs Operate Around the World  In a year when cryptocurrency markets broke all-time highs, the availability of digital coins has increased and bitcoin ATMs have contributed greatly. Their number has recently exceeded 30,000 — more than double the count at the beginning of 2021.  Data collected by Coin ATM Radar shows that on Jan. 1, there were 14,016 registered locations supporting automated teller services for leading cryptocurrencies. And, as of Oct. 27, their number has reached a staggering 30,011.  Source: Coin ATM Radar  These Bitcoin ATMs and other crypto teller services are spread across 76 countries and run by 628 operators, according to the tracking website. The United States is the pronounced leader with more than 26,000 locations while neighboring Canada has a little less than 2,000, and the whole European Union hosts only 1,353.  Crypto teller devices have increased in Spain (155) and bitcoin-friendly Switzerland (130) but not all trends have been positive. Their numbers have declined in some other major

2021-10-28Deep Dive
1
...
407409
...
737