Crypto Guides, Knowledge & Insights

Revuto Private Sale Totals $1.7M Ahead of Cardano Launch

Revuto, a subscription management service accepting crypto payments, has raised $1.7 million in a private sale. The round was led by BlackDragon VC and included a series of angel investors who contributed to the haul over the space of a week.　　Revuto is now preparing for a launch on Cardano as the first dApp to run on the new blockchain. Revuto can count this sale as yet another feather in its cap after gaining over 1 million pre-launch sign-ups based on referrals over a two-week period.　　Driving Cryptocurrency Mainstream　　Delighted by the recent turn of events, Revuto CEO Josipa Majic said, “We‘re grateful to our private investors, including BlackDragon, for believing in Revuto’s team and tech, and for sharing our vision of making crypto spendable in everyday life. Having the right funding and investors that back our long term vision is crucial, and thus we are delighted to achieve this milestone and are excited for what lies ahead.”　　The use of cryptocurrency as payment for services has been limited to a few vendors who have taken the risk of accepting the digital currencies, comprising local businesses for the most part. With Revutos token payment option, a wide range of digital assets can be converted

2021-05-18Deep Dive

How Turning Stock Sentiment Could Deal A Death Blow To Bitcoin

Bitcoin is now trading in the low $40,000 range after a swift and sharp sentiment change. With the top cryptocurrency on the ropes currently, a massive breakdown in the stock market could be the fatal blow that puts the final nail in the bull market coffin.　　Heres how turning stock market sentiment, a change in risk appetite, regulation, and much more could be devastating for Bitcoin.　　The Dow Jones Looks Heavy, Why It Could Weigh On Crypto Bulls　　It hasn‘t just been crypto that’s been setting new high after high. The stock market has also been in a full “froth” with explosive runs in company shares like GameStop, to hot button IPOs, and SPACs left and right.　　Stimulus money flowing let risk appetite grow ravenous, pushing top stock indices and the biggest cryptocurrencies like Bitcoin and Ethereum to record highs.　　But thanks to a number of factors, risk appetite is quickly turning, it is has the Dow Jones – a barometer of the success of the stock market and economy – looking heavy.　　Factors include recent comments from Fed Chair Jerome Powell, and warnings from economists that the bubble was boiling over. Even the SEC issued a warning about speculative assets like Bitcoin. With the forceful

2021-05-18Deep Dive

EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

Ernst & Young is investing $100 million into targeting enterprise DeFi with its latest suite of Blockchain Analyzer products.　　“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications.　　On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications.　　“The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY announced, adding:　　“It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”　　Yael Tamar, the co-founder of asset tokenization firm, SolidBlock, recounted using the new studio to review smart contracts for property-backed security tokens, stating: “It was very beneficial to simulate how our contracts could perform on the network prior to deployment and test the contracts against widely known attacks in this market.”　　EY also revealed that Italian beer company, Birra Peroni, is using its Ethereum-based supply chain solution, “EY Opschain Traceability.” Peroni is

2021-05-18Deep Dive

Xinjiang Police Vow to Fight Crypto Fraud, Launch Public Awareness Drive

The police in the Xinjiang Uyghur Autonomous Region, China, have launched a campaign that they hope will help wipe out crypto scams.　　Per the Legal Daily, the police are concerned that “illegal fund-raising, online pyramid schemes and other cases of economic fraud” are on the rise in the region. The police added that crypto-related fraud and illegal loan services were on the rise and could end in “disastrous” results for those who fall for them.　　The police have sought to fight back with a large-scale public awareness campaign in Ürümqi, the regions capital and largest city, held over the weekend. Officers took to the streets to hand out flyers, brochures, and other promotional materials to citizens. The material, police said, was created in an effort to help residents in the region to learn how to spot pyramids or crypto scams, as well as other online fraud.　　Illegal multi-level marketing (MLM) schemes have experienced a boom in popularity of late in China – with many taking a distinctly crypto and blockchain flavor this year, as crypto prices have risen and even Chinese companies have cautiously moved into the crypto space.　　A huge glut of bogus digital yuan scams have also appeared throughout the nation –

2021-05-18Deep Dive

How Fish.Pro Will Help Traders To Maximize Their Profits

The crypto market can be uncertain and unpredictable. Many of the best crypto traders remain profitable by sharing alpha information on potential plays, exciting projects, and relevant data. Fish.Pro is a new revenue-sharing platform, created with the objective of becoming the go-to hub to discover crypto treasure islands. Hidden gems that would otherwise go unnoticed.　　Launch on May 13th, Fish.Pro is set to be a portal to meet the demand of crypto users and attract new ones into the crypto space. The project will build products to disrupt the model used by trading platforms in the crypto industry.　　In doing so, they will tear down the barriers, pain points, and obstacles that crypto traders face today. Thus, Fish.Pro has features that will allow users to share revenues and discover valuable projects to optimize their gains.　　The exchange will support Bitcoin, Ethereum, Litecoin, Dogecoin, Cardano, EOS, and many of the most popular cryptocurrencies in the industry. Unlike traditional trading platforms, where positions and trades are isolated, Fish.Pro will have interactive channels for the community to share data, personal opinions, and create teams. The platform will consider the opinion of users for improvements.　　Fish.Pro And A New Wave Of Adoption　　Fish.Pro was built by a team of

2021-05-18Deep Dive

Coinbase Announces Its Intention to Raise $1.25 Billion. Will It Mirror MicroStrategy?

Coinbase‘s IPO was great news for cryptocurrency enthusiasts. Still, since that time, the company’s share price has done nothing but slide. In the midst of that collapse, the leading U.S. cryptocurrency exchange is looking for an even more significant cash infusion.　　As per a P.R. published a few hours ago, the U.S. company revealed its intention to offer $1.25 Billion of Convertible Senior Notes Due 2026.　　Coinbase Wants To Speed Up Its Growth　　The offering would be private and accessible only to institutional investors pursuant to Rule 144A promulgated under the Securities Act of 1933, i.e., those managing at least $100 million in securities issued by other companies.　　Coinbases decision comes just days after it reported over $1.8 billion in total revenue for the first quarter of 2021. Convertible bonds are debt securities in which an investor acquires the power to demand payment in cash with interest or convert the value of their notes for the equivalent in shares of the company that issued the debt.　　Coinbase did not disclose any specific purpose for raising so much money, but the markets did not take too kindly to the announcement. The stock fell 3% throughout the day, touching a low of $238 before bouncing back a

2021-05-18Deep Dive

1.1M noobs panic sell, but Bitcoin hodlers DGAF

While new entrants to Bitcoin markets have been panic selling at a loss, the recent market slide has not vexed the old hands.　　Heavy selling in response to hints from Elon Musk that Tesla may soon sell its BTC stash saw Bitcoin prices tumble to their lowest levels in 20 weeks as the markets found support near $42,000 on Monday, May 17.　　According to on-chain analytics provider, Glassnode, the crash predominantly saw newer traders exiting from their positions at a loss while long-term hodlers stood their ground.　　Glassnoded noted Bitcoins adjusted Spent Output Profit Ratio (aSOPR), a metric that shows whether BTC was in profit or at a loss when it was last transacted on-chain, fell below 1.0 amid the dip. An aSOPR of less than 1.0 indicates aggregate losses have been realized on-chain and are most pronounced in short-term holders (coins younger than 155-days) — traders that purchased during the 2021 bull market.　　The total number of addresses holding a non-zero BTC balance has also retreated by 2.8% from its recent all-time high of 38.7 million as more than one million traders liquidated their positions. Glassnode stated:　　“A total of 1.1M addresses have spent all coins they held during this correction, again providing evidence

2021-05-18Deep Dive

What is Bitski & Why Does Jay-Z Want To Invest In It?

What Is Bitski？　　Imagine that an iOS game wants to reward players with digital items or tokens. On Ethereum, users would have to set up an entirely new wallet, struggle with credentials, or use another solution like a clumsy web browser plugin. They would also have to own Ethereum already to pay the Ethereum “gas” price to cover the transaction on the blockchain. Then the developer would have to personally approve sending the item.　　To overcome these problems, Bitski has created a completely automated and integrated NFT platform where users can approve receiving tokens from a developer. From then on, developers can pay the gas on users behalf while triggering transactions programmatically. In simple terms, this means that using blockchain apps and playing blockchain games becomes a lot more streamlined and fun. Bitski will also assist with the mass adoption of NFTs, as users will be able to mint and trade NFTs without needing any technical knowledge.　　What Is Unique About Bitski And How Does It Work？　　In a world where dealing with NFTs is extremely complicated and requires weeks of research, Bitskis goal is to provide a simple platform for game developers, brands, and average consumers to create, buy, and sell NFTs.　　Bitski makes

2021-05-18Deep Dive

23% of Gen Z is investing in memes like Dogecoin (only 9% in NFTs)

Nearly a quarter of young, new crypto investors are actively investing in meme-driven cryptocurrencies like Dogecoin, a survey by betting app Gamblers Pick found recently.　　Meme narratives have spruced up the crypto space massively in the past few months driven by the likes of Dogecoin (and celebs like Elon Musk continuously shilling such coins). The ‘meme’ sector, as CryptoSlate data shows, commands over 3.43% of the entire crypto market cap and is worth over $70 billion at press time.　　Choose memes, choose Dogecoin　　The study asked 872 people about their investment strategies to explore how different generations were investing across financial markets.　　Twenty-four percent of those respondents were ‘Gen Zers’ (born between late 1990-early 2010s), 27% were millennials (born between 1980-1995), 25% were Gen Xers (mid-1960s to early 80s), and 24% were baby boomers or older (post the world wars and 1960s).　　Overall, a quarter of respondents admitted to investing frequently and said that it was a relatively popular activity among them, as only 12% said they rarely did it. On a generational level, Gen Zers couldnt get enough of the practice, with over 28% said they were constantly investing.　　IMAGE: GAMBLERS PICK SURVEY.　　A staggering 55% of Gen Zers, as per the survey, said they were

2021-05-18Deep Dive

Ethereum Network Revenue Set to Smash Monthly Record of $722 Million

Total Ethereum transaction fees have never been higher, thanks to a combination of network use (and the ensuing congestion) and historically high ETH prices.　　Transaction fees for May 2021 are on track to break the current monthly record of $722 million at some point today, according to statistics from Coin Metrics, with two full weeks left to go in the month. If the trend continues, the blockchain network will pass its Q1 network revenue totals of $1.7 billion in ETH before the end of May.　　The previous high was set just three months ago, in February 2021.　　Ethereum total transaction fees per day in USD. Source: Coin Metrics　　Every time someone uses the Ethereum network to send funds or utilize a smart contract (automated code they interact with to, for example, place a bid on an NFT at auction or swap assets on a decentralized exchange), they must pay a fee, which ultimately goes to miners along with a block subsidy of freshly minted ETH.　　Transaction fees are constantly changing depending on network congestion; the more transactions being made, the higher they can go if users are willing to pay a premium. This months record fees, denominated in dollars, are thus an indication of total

2021-05-18Deep Dive

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