Crypto Guides, Knowledge & Insights

First EU-Regulated ETF That Tracks Bitcoin Price to Launch in France

Melanion Capital, a prominent French investment management company, is set to launch an exchange-traded fund that tracks the price of Bitcoin through a basket of equities, according to a Financial Times report.　　Its shares will be trading on the Euronext stock exchange in Paris.　　What makes this ETF stand out is its UCITS status, which means that its regulated throughout the European Union.　　While strict standards prevent Melanion Capital from offering access to the real thing, there is a 90 percent correlation ratio between its index and the price of Bitcoin.　　The fund offers exposure to such companies as Galaxy Digital, Riot Blockchain, Voyager Digital and others.　　As reported by U.Today, cryptocurrency asset management firm Bitwise launched a similar ETF that tracks the stocks of publicly listed crypto companies in the U.S back in May.

2021-08-05Deep Dive

Could Bitcoin Follow Gold’s 1970s Parabolic Rally?

Could Bitcoin Follow Golds 1970s Parabolic Rally？ Fidelity Macro Strategist Compares BTC to Precious Metal.　　Jurrien Timmer, global macro director at financial giant Fidelity, says Bitcoin could be following golds coming of age footsteps during the 1970s.　　Timmer tells his 61,400 Twitter followers that Bitcoin is an “aspiring asset class,” full of potential much like gold was 50 years ago. Timmer explains that during the 70s, the yellow metal went through a turbulent phase.　　“Even though it was a known commodity, gold was extremely volatile on its way to a 20x return and suffered large drawdowns quite regularly.”　　Looking at Bitcoin, Timmer says the leading cryptocurrency has more upside than gold had in the 1970s due to BTC‘s provable scarcity and network effects. However, the Fidelity global macro strategist highlights that Bitcoin’s upside potential comes with larger drawdowns.　　“Bitcoin, on the other hand, is a relative newcomer, with scarcity and network effects. So it makes sense to me that the upside of bitcoin is greater than gold, as are its drawdowns. That is the definition of price discovery.”Timmer said.　　Timmer traces Bitcoin‘s price action over the last two years and compares it to gold’s rise in value five decades ago.　　“Below, I show Bitcoin since its 2019

2021-08-05Deep Dive

Bitcoin SV (BSV) Hampir Musnah

Serangan itu dikenalpasti oleh platform pengurusan risiko, FARUM dan didapati serangan 51% menyebabkan 14 blok disusun semula dan tiga versi rantai dilombong secara serentak.　　Dilaporkan lebih 3 jam keseluruhan ekosistem BSV dikawal oleh penceroboh. Pengurus produk data rangkaian Coin Metrics, Lucas Nuzzi menyifatkan serangan ini bertujuan menghancurkan BSV.　　Organisasi yang menyokong pembangunan BSV, Bitcoin Adoption pada masa yang sama menggesa semua operator nod tandakan rantai ‘tipu’ sebagai ‘tidak sah’. Hanya melalui cara ini, nod dapat dikembalikan kepada rantai sebenar dan menyingkirkan rantai yang diwujudkan oleh penceroboh.　　Sehingga ketika artikel ini ditulis, masih belum dapat disahihkan sama ada serangan tersebut sudah berakhir atau penceroboh tangguh untuk sementara.　　Bitcoin SV atau dikenali sebagai Bitcoin Satoshi Vision merupakan produk kepada hard fork Bitcoin Cash (BCH) pada November 2018. Tiada perbezaan antara polisi monetari BSV, BCH dan Bitcoin (BTC) kecuali, ketiga-tiga ini ‘berpisah’ kerana perbezaan pandangan dalam komuniti Bitcoin Cash berkaitan cadangan untuk menjadikan transaksi lebih efisien.　　Sehingga kini, BSV masih dikenali sebagai salah satu blockchain terbesar dari segi nilai monetari. Dengan nilai pasarannya yang melebihi $2.6 bilion, BSV berada di tempat ke-40 di CoinMarketCap.　　Ketika penulisan, BSV didagangkan pada $138.53, susut hampir 4% dalam 24 jam. Aset ini susut hampir 72% dari paras tertinggi sepanjang masa (ATH), $491.64 yang

2021-08-04Deep Dive

US banks urged to include Bitcoin, crypto in their plans for this crucial reason

In a new report titled “Understanding Crypto: What banks need to know,” the American Bankers Association (ABA) has urged banks across the country to partner with crypto firms.　　The need for banks to partner with crypto firms, according to the report, is due to the increased profitability of the sector and rising client interest.　　In the 20 page report, while suggesting various crypto use cases for banks with revenue models and regulatory issues for each use case, the group provided a high-level overview of crypto with a glossary, which maps crypto business activities to bank products and services.　　American Bankers Association Advises Banks on Crypto Relations　　With the increasing profitability of the crypto industry, banks have found it more lucrative to take crypto companies on as partners and their customers as clients while crypto companies need banks to provide access to the payments system to onboard and offload fiat deposits, ABA said in the report.　　Some of the suggested partnerships for the banks include payment systems where a blockchain-powered payment network would allow for faster and more efficient international transactions or how the blockchain technology could be utilized to allow for cheaper and secure lending processes.　　Other activities that the bank could find indispensable include KYC/AML,

2021-08-04Deep Dive

South Korea’s Ruling Party Hints at Increased Crypto Leniency

The ruling South Korean Democratic Party‘s crypto task force is discussing a plan to “institutionalize corporate transactions” on crypto exchange platforms with the nation’s nine leading exchanges – a further sign, perhaps of an impending regulatory climbdown.　　More details of a key meeting held last month between the exchange chiefs and the task force have revealed that the party may be ready to make a number of concessions to the sector.　　Per Herald Kyungjae, the exchanges‘ CEOs, present at the meeting “strongly criticized the government’s regulatory measures,” which have imposed a set of banking, information management, and anti-money laundering regulations on trading platforms.　　The CEOs accused the government and the party of effectively driving them to the brink of closure – with none of the exchanges yet fully compliant with all of the regulations.　　Regardless, the task force has pledged to do all in its power to help bolster the industry – painfully aware that many of its key supporters are crypto investors rapidly losing faith in the party ahead of next years general elections.　　Exchanges agreed that the government and the industry needed to come to a consensus on how to deal with corporate clients and their transactions, as well as foreign (non-Korean) trading

2021-08-04Deep Dive

CryptoPunks Menggila Lagi, Jumlah Dagangan Meningkat Lebih 1,200%!

CryptoPunks merupakan koleksi non-fungible token (NFT) dalam format piksel 8-bit 2D yang meraih populariti pada awal 2021.　　Menurut DappRadar, rekod dagangan CryptoPunks mencecah $120 juta dengan lonjakan 1,270% dalam tempoh lebih seminggu sahaja.　　Menariknya tentang koleksi CryptoPunk, salah satu projek NFT pertama di Ethereum (ETH) adalah ia diinspirasikan oleh gerakan punk London pada 1970. Setiap satu CryptoPunk sangat unik, memiliki ciri berbeza di antara satu sama lain.　　Setakat ini, jumlah keseluruhan jualan CryptoPunks yang direkod oleh pencipta CryptoPunk, Larva Labs bernilai 264,740 ETH (sekitar $684.93 juta).　　Kegilaan terhadap CryptoPunks bermula pada Jumaat apabila didapati ada whale yang cuba untuk membeli seni digital itu dan telah membelanjakan sekitar 24 ETH sehingga 29 ETH untuk mendapatkan satu karakter. Larva Labs mendedahkan whale tersebut kini memiliki 104 karakter CryptoPunks.　　Pada hari yang sama juga karakter CryptoPunk#5217 dijual pada 2,250 ETH (sekitar $5.45 juta) dan CryptoPunk#2140 terjual pada 1,600 ETH (sekitar $3.76 juta). Kedua-duanya merekodkan jualan ketiga dan keempat terbesar dalam sejarah CryptoPunks　　Sementara itu, rekod dagangan keseluruhan pasaran NFT mencecah $1.5 bilion, meningkat 2,627% tahun ke tahun bagi suku pertama. Walaupun momentum sektor NFT sedikit mendatar menjelang Mei, tidak dinafikan pasaran ini berjaya menyaksikan jumlah transaksi mencapai nilai $2.5 bilion bagi separuh pertama 2021.

2021-08-04Deep Dive

Pantera boss: Upcoming Ethereum catalyst could cause ETH to outperform Bitcoin

Dan Morehead, the Chief executive officer of Pantera Capital, an American hedge fund that focuses on crypto investments, has said that Ethereum could outperform Bitcoin in the near future. He made this disclosure during a recent interview with Reuters.　　Ethereum holds enormous potential　　According to Morehead, Ethereums potential, plus the number of applications that run on its blockchain coupled with its lower environmental impact could help it flip its more illustrious counterpart.　　The Pantera CEO continued that the Ethereum Improvement Proposal (EIP) 1559 upgrade that is scheduled to go live on Wednesday will help the second largest crypto asset by market cap to become a tradable “fixed asset.”　　According to him, people looking to use cryptocurrencies as a store of value would begin to see Ethereum as a more viable option than Bitcoin. In his words, “youll see a transition of people who want to store wealth, doing it in ETH rather than just Bitcoin.”　　EIP 1559 is an Ethereum upgrade that looks to help reduce the huge transaction fees that ETHs blockchain tends to charge. It is also looking to move the network to a Proof of Stake (PoS) network which would drastically reduce the level of energy usage during mining of the asset.　　

2021-08-04Deep Dive

DeFi attracts 2.91M Ethereum addresses, according to ConsenSys

The Ethereum (ETH) network continues to be a major driving force behind decentralized finance, or DeFi, signaling the continuation of a trend that began around mid-2020, according to a new quarterly DeFi report by ConsenSys.　　Toward the end of June 2021, 2.91 million unique Ethereum addresses interacted with at least one DeFi protocol, representing 65% growth from the previous quarter. “As community driven education, simple user interfaces, appealing yields and general awareness around DeFi best practices increased throughout the quarter, so too did the number of new addresses,” the report read.　　ConsenSys cautioned that non-custodial wallets like MetaMask make it easier for people to create and fund multiple accounts, which means the number of addresses and users is not perfectly aligned. Nevertheless, MetaMask can be seen as another important gauge for identifying trends in DeFi. As ConsenSys noted, by June 1, the monthly active users on MetaMask surpassed 7.3 million. At the time of writing, ConsenSys counts 8.5 million monthly active MetaMask users. The report explained:　　“This is in part due to the growth of DeFi applications on other Ethereum Virtual Machine compatible networks that users can access via MetaMask, like BSC and Polygon.”　　MetaMask, which was launched by ConsenSys in 2016, has become

2021-08-04Deep Dive

HSBC Sekat Pembayaran Kepada Binance

Keputusan diambil didorong oleh bank di Scotland, NatWest yang memiliki 12.5 juta pengguna, termasuk bank UK, Barclays dan Spanish Bank Santander yang terlebih dahulu membuat sekatan pembayaran kepada Binance pada bulan lepas.　　Menurut jurucakap HSBC, mereka tidak teragak-agak untuk bertindak tegas terutama apabila melibatkan standard anti penggubahan wang haram (AML) dan kenali pelanggan anda (KYC). Mereka juga mengikut rapat perkembangan, permintaan klien, dan perubahan undang-undang di dalam pasaran ini.　　Bermula pada Jun lagi Binance bergelut dengan sekatan demi sekatan daripada beberapa buah negara: Afrika Selatan, Jepun, UK, dan yang terbaru, Malaysia.　　Setakat ini, Binance masih belum menunjukkan usaha untuk ‘menyejukkan’ keadaan.　　Sebelum ini CEO Binance, Changpeng Zhao atau lebih mesra dikenali sebagai CZ mengumumkan perletakan jawatan, jika sudah ada pengganti untuk menggantikan posisi semasanya. Jelasnya, dia mengharapkan syarikat pengurusan matawang kripto itu dapat dinaungi oleh seseorang yang memiliki latar belakang dalam perundangan berkaitan sektor kripto.　　CZ juga ada meluahkan hasratnya untuk Binance bekerjasama dengan pihak penyelia:　　“Mesejnya sudah jelas yang penyelia mahu mengetatkan undang-undang dalam sektor ini. Dari perspektif kami untuk Binance, satu perubahan besar perlu dilakukan dari sebuah startup teknologi kepada syarikat perkhidmatan kewangan.”

2021-08-04Deep Dive

Ethereum London Hard Fork Incoming: How Binance and OKEx are Preparing

The Ethereum blockchain is scheduled to undergo the London hard fork, and several exchanges are taking precautions to ensure users funds remain secured once the hard fork is successfully deployed.　　At block height 12,965,000, estimated to take place tomorrow (August 8th, 2021), Ethereum was scheduled to undergo the hard fork, and two scenarios are likely to occur; either the chain is split, and theres a competing network with a new token or no new token is created, and most exchanges will resume ETH and ERC-20 tokens operations like withdrawals and deposits after the hard fork.　　How Are Exchanges Preparing for the Hard Fork？　　Binance announced it will suspend ETH and ERC-20 tokens deposits and withdrawals at 2021-08-05 11:45 (UTC). This is to ensure that trading risks are reduced if a new token is created during the hard fork, which could lead to extreme price volatility.　　Some Binance products like Spot and Margin trading will be unaffected — however, the exchange warned users to take their precautions as price volatility is often high during a hard fork. Binance Crypto Loans will be suspended for 42 hours.　　Crypto exchange OKEx said that if ETH splits and a new token is created, the platform will credit users with

2021-08-04Deep Dive

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