Crypto Guides, Knowledge & Insights

Forked DEX On Binance Chain Tests Uniswap & Legal Limits

Major decentralized exchange Uniswap (UNI) has been put to another test, as the crypto industry is waiting how the platform will react to its copy that has appeared on the Binance Smart Chain (BSC).　　“Holaswap is 100% fork of Uniswap V3 on BSC thats 100% community owned and governed,” the new player said.　　According to the project, it has USD 10,990 total value locked (TVL) as of 7:43 UTC on Monday, with a 24h volume of USD 1,400.　　Uniswap v3, or the third version, has been deployed to the Ethereum mainnet on May 5. The team behind the project stressed that “Uniswap v3 Core will launch under the Business Source License 1.1—effectively a time-delayed GPL-2.0-or-later license. The license limits use of the v3 source code in a commercial or production setting for up to two years, at which point it will convert to a GPL [General Public License] license into perpetuity.”　　Therefore, the Cryptoverse is now waiting to see how Uniswap responds to this, given that that response “is going to set a precedent for years to come,” as Nansen analyst Ling Young Loon said.　　How would Uniswap stop an anonymous project from copying it, and what are the legal implications for both those who

2021-06-08Deep Dive

The when and why behind Ethereum breaking above $3000

It is difficult to navigate through a choppy cryptocurrency market. With a lack of direction on either side of the trend, Ethereum is finding a bit of a bullish push yet again. For Ethereum Classic, there is a considerable lack of volatility, which is keeping the price at bay. Theta, on the other hand, enjoyed plenty of positive volatility over the past week, which has momentarily allowed the asset to recovered above 40%.　　While a clear trend is yet to appear in the longer time frame, we analyzed these assets to understand whether a sharp movement is brewing on the side or not.　　Is a break above $3000 on for Ethereum now？　　ETH/USDT on Trading View　　On 3rd June, the rejection was met at $2900 and on 5th June, $2800 followed. With exhausted bullish momentum, Ether seemed destined to re-test $2250, but support at $2550 has held. Now, within 48 hours, the price is back above $2800 which is a strong indication that $3000 can still be attained.　　At the moment, strong indicators are backing ETHs price action as well.　　Source: Santiment　　As observed in the above chart, Ethereum‘s NVT ratio is currently on a rise over the past few days, but its average has remained low.

2021-06-08Deep Dive

There’s A Massive Bitcoin Adoption Trend About To Thump The Philippines

As the Bitcoin adoption rate surges across the globe, many parts of the Asian continent remain committed to grabbing a piece of the Bitcoin pie before the industry gets saturated. While the Chinese and Japanese governments have been adopting strict cryptocurrency policies that have forced leading firms to migrate, the Philippines is opening its arms to the leading cryptocurrency.　　Millions of Philippines residents may finally gain access to Bitcoin for the first time　　In the heat of the weeks chaotic events, it may have been easy to overlook the reports made by insiders on the leading Philippines mobile wallet Gcash. The firm which is currently the biggest in the Philippines is reportedly considering adopting Bitcoin by integrating the asset into its booming platform. A lot of the Bitcoin payments recorded in the country can be traced back to Gcash users, who use the platform for transactions on a daily basis.　　GCash, which is the short form of Global Cash, is a payment platform that was created by the Philippines‘ top telecommunications conglomerate. The app allows users to have access to a wide range of services. Users can make payments for utility bills, malls, bank transfers, and restaurants. Should Gcash step into the Bitcoin

2021-06-08Deep Dive

Will The Miami Bitcoin Conference Herald A Cryptocurrency Tsunami?

The most eagerly anticipated Bitcoin conference since the advent of the number one cryptocurrency ended yesterday. Some earth-shattering statements, such as that of the president of El Salvador, Nayib Bukele, promising to introduce legislation to make Bitcoin a legal form of payment in his country, made this a landmark conference for the advancement of cryptocurrency.　　A year in the making, the Bitcoin 2021 Conference, held in Miami, could be said to be a resounding success. The conference began during a period of fairly extreme negativity for the number one cryptocurrency. A two month slide in the Bitcoin price, from its high in April, led to a halving in its value by mid-May.　　China, Elon Musk and other factors, had led to the major price plummet. However, some commentators had speculated that the bull trend which began in March of 2020, had risen too much, and far too quickly.　　Francis Suarez, the Mayor of Miami, kicked off the conference by declaring that he wanted his city to embrace crypto and become a city that focuses on technological advances.　　Ron Paul, congressman, ex-presidential candidate, and renowned libertarian, spoke on the principles of liberty and monetary freedom. He explained the difference between freedom and “free money”, alluding

2021-06-08Deep Dive

The First NHL Team To Accept Crypto Is Here

The NHL‘s San Jose Sharks have announced that they’ll be accepting crypto for payments as early as June 15th – the first NHL team to do so. Cryptocurrency will be accepted for season tickets, luxury boxes and sponsorships.　　The Future Of Crypto In Hockey　　“We‘re accepting PayPal, so then by definition, we’re accepting cryptocurrency,” Sharks president Jonathan Becher said regarding the news. “Why not embrace it and make it more visible as opposed to just doing it through a third party？”　　The team partnered with BitPay to accept a variety of cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and more. Becher elaborated on Twitter with further comment, adding that “Initially well accept cryptocurrency for season tickets, suite leases, and partnerships. Other use cases – including single-game tickets, F the NHLs New Jersey Devils signed a deal with Socios.com and Chiliz around marketing efforts to integrate blockchain technology in audience monetization and engagement. Other major teams and leagues have partnered with the blockchain company to launch their own fan tokens as well.　　Chiliz and Socios.com are becoming a focal point in fan tokens - a popular way for major league teams to utilize blockchain technology to engage with fans. | Source: CHZ-USD on TradingView.com　　Beyond The NHL: Crypto

2021-06-08Deep Dive

Proposed New Law Would Allow Russians to Inherit Bitcoin and Co.

Senior Russian lawmakers are set to push ahead with the creation of a new law that would allow citizens to inherit bitcoin (BTC) and other cryptoassets, include it in their wills and divorce settlements – and allow creditors to access tokens in successful bankruptcy claims.　　Crypto currently has a decidedly grey legal status in Russia. Although the nation‘s first-ever crypto-related bill promulgated this year, in essence, all it effectively did in terms of the nation’s law was outlaw the use of tokens in payments.　　And while the government seems keen to press forward with crypto tax legislation in time to launch next year, critics have claimed that this will be problematic due to the fact that crypto has no legal status in Russia, where it is covered neither by asset laws nor property rules.　　This means that courts have often been powerless to rule in cases of token inheritance, while lawyers have been powerless when dealing with requests to include crypto holdings on wills.　　But per RBC, the head of the State Duma‘s Committee on State Construction and Legislation Pavel Krasheninnikov stated that he was hopeful changes could be made to the nation’s inheritance law and civil code before the end of the current

2021-06-08Deep Dive

Paraguay joins the crypto train, says ‘Bitcoin to the moon’

Paraguay is setting an important project in motion this week, hinting at Bitcoin (BTC) and its legal tender status, announced congressmen Carlitos Rejala in a tweet.　　Only a day after the announcement made by the El Salvador President Nayib Bukele on Twitter, it seems Paraguay is going to be the next country racing to legalize Bitcoin.　　Laser eyes　　The Chamber of Deputies representative Rejala updated his profile photo on Twitter and added laser eyes to the picture as he made an announcement implying that Bitcoin could be considered legal tender soon.　　“As I said a long time ago, our country needs to go hand in hand with the new generation. The moment has come, our moment. We start this week with a valuable project that will renew Paraguay in front of the world,” said Rejala on Twitter, adding “to the moon #btc & #paypal” to the end of his announcement.　　Bitcoin adoption took a dramatic spin as politicians in Latin America started declaring the region is ready to open up to crypto.　　The drums began rolling when the president of El Salvador, Nayib Bukele, disclosed plans to give Bitcoin the status of legal tender. Bukele revealed his plans at the Miami-based Bitcoin 2021 conference over the

2021-06-08Deep Dive

London wealth manager made $1B profit from $600M BTC investments

London wealth manager made $1B profit from $600M BTC investments　　London Asset Manager, Ruffer, is open to making more Bitcoin trades in the future after profiting $1billion in less than six (6) months.　　Ruffer made over $1 billion in profit from a %600 million Bitcoin investment made in November 2020.　　In his interview with The Times, the investment director at the London-based asset management firm, Hamish Baillie, revealed that Ruffer closed out its Bitcoin position for more than $1.1 billion in profit during April:　　“When the price doubled we took some profits for our clients in December and early January. We actively managed the position and by the time we sold the last tranche in April the total profit was slightly more than $1.1 billion.”　　According to Cointelegraph - “Baillie claims Ruffer became one of the first fund managers to buy BTC in what was a rare short-term investment for the company. At the time of the investment, Bitcoins price had cleared $15,000 and was pushing up to test the then all-time highs near $20,000 that had been set in 2017.”　　“The investment director attributed Bitcoins late 2020 parabolic price rally to the pandemic lockdown and stimulus payouts in the United States. He said the company

2021-06-07Deep Dive

Latest Market Updates and Forecast: Bitcoin and Altcoins.

Latest Market Updates and Forecast: Bitcoin and Altcoins.　　1.0 Investors Panic over Delays in the Approval of Bitcoin ETF:　　Investors and Hedge fund managers have waited long for the Securities and Exchange Commissions (SECs) approval of a Bitcoin Exchange Trading Fund (ETF).　　However recent remarks from SECs Chairman Gary Gensler suggests the approval may not be granted immediately.　　Bitcoin ETF applications have been under review by the SEC for months now and awaiting a final approval.　　Further tension was raised when Gensler told Congress recently that “there are many challenges and gaps for investor protection in [crypto] markets,” adding that “none of the exchanges trading crypto tokens has registered yet as an exchange with the SEC.”　　Probably, it is evident that SEC wants to impose more regulations on Crypto currencies following the crash last month before it approves a Bitcoin ETF.　　Advantages of Approving a Bitcoin ETF and its effects on the Crypto market:　　A Bitcoin ETF is one that mimics the price of the digital currency, allowing investors to buy into at will into the market without trading Bitcoin itself.　　Investing in a Bitcoin ETF cuts out most issues of complex storage and security procedures required from cryptocurrency investors. Further enhancing a Dex trading.　　More so, an ETF is

2021-06-07Deep Dive

U.S. Senator blames crypto for rising ransomware attacks

Ransomware has been around for decades, but trust political figures to blame crypto for its rise. This weekend on NBC News Meet the Press, US senator Roy Blunt alleged the privacy offered cryptocurrencies were fuelling the recent spate of hacking attacks.　　“It took gasoline and beef for us to think this is really a serious problem,” he said, adding that the anonymity provided by cryptocurrencies was a negative feature as they allow for untraceable ransom payments.　　Charge on crypto　　The comments came after recent attacks on the US gas pipeline system Colonial Pipeline and meatpacker JBS—both instances seeing hackers demand Bitcoin after compromising passwords in a cyberattack. The move caused a widespread gas shortage and meat-plant shutdowns and was one of the biggest such attacks of its kind.　　Colonial paid over $4.4 million in Bitcoin to regain access to its crucial systems, while JBS ransom payment is unclear as of press time.　　But while ransomware has been around for decades (via e-payments and cash), the usage of Bitcoin and other cryptocurrencies has suddenly come under focus. “We have a lot of cash requirements in our country, but we havent figured out in the country or in the world how to trace cryptocurrency,” said Blunt, adding

2021-06-07Deep Dive

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