Dogecoin is the Most Talked About Crypto on Social Media After Bitcoin

The popular memecoin Dogecoin (DOGE) suffered a loss of performance against Shiba Inu (SHIB)  However, Dogecoin may be getting ready to go back to its old days of glory  The latest social media data for DOGE implies that its popularity is back  Dogecoin (DOGE): When it comes to meme cryptocurrencies, social media interaction around the coins are important. We take a look at the meme coin with the highest market value in the cryptocurrency world – Dogecoin.  The latest social media data for the most popular meme coin has just hit the spotlight. DOGE seems to have fallen down the popularity scale compared to Shiba Inu (SHIB) recently. However now it seems that DOGE is gearing up to be as popular as it used to be.  Dogecoin Stands Out on Social Media  The number of followers of the Dogecoin official Twitter account has now surpassed three million users. It is the cryptocurrency with the most followers, after Bitcoin, with 4.5 million followers. Following closely behind is Shiba Inu, known as the Dogecoin killer, with 2.7 million followers.  The Dogecoin Twitter account has seen a 681% follower increase in just one year. Moreover, the popular meme coin also had a similar win on Reddit. Dogecoin has 2.3 million

2022-02-07Malalim na Pagsisid

US Treasury Department Concerns NFTs Crime of Money Laundering

The growing popularity of digital artworks as highly valued non-fungible tokens (NFTs) is now a major financial red flag as the United States Treasury Department believes they could be a vital tool for money laundering.   According to a new “Study of the facilitation of money laundering and terror finance through the trade in works of art” as conducted by the Treasury Department, the claim that money launderers can hide behind NFTs to move large sums of money is very high.  “The emerging online art market may present new risks, depending on the structure and incentives of certain activity in this sector of the market (i.e., the purchase of NFTs, digital units on an underlying blockchain that can represent ownership of a digital work of art),” the report reads.   NFTs became more popular in the past 2 years as collections like CryptoKitties and Bored Ape Yacht Club (BAYC) started pricing at very huge valuations. While legacy NFT marketplaces like OpenSea have hit monthly transaction values upwards of $4 billion, showing how well collectors inject capital into the market, it is not uncommon for NFT artworks to price in millions of dollars. Blockchain.News reported in March 2021 that Beeples “Everydays”, a collage of

2022-02-07Malalim na Pagsisid

Over $4.5 Billion Worth of Ethereum ($ETH) Has Already Been Burned, Data Shows

Over $4.5 billion worth of the second-largest cryptocurrency by market capitalization, Ethereum ($ETH), has been burned since the implementation of Ethereum Improvement Proposal (EIP) 1559 via the London hard fork on August 5.  According to data from tracking website Watch the Burn, a total of 1.747 million ether worth $4.58 billion has been burned since August, with an average of 307 ETH worth $800,000 being burned per hour, and 12,300 worth $32 million being burned per day.  Per day, Ethereums net issuance has dropped to around 1,100 ETH, meaning its net reduction is now over 91%. Some analysts have estimated ETH could become a deflationary currency if burns outpace net issuance, which has occurred on a few blocks.  The London hard fork included the implementation of Ethereum Improvement Proposal (EIP) 1559, which changed the way transaction fees on the network work. Instead of an auction system, users now pay a base fee for their transaction to be processed by miners, and can alternatively tip miners to get their transactions to be processed faster.  Miners aren‘t paid the base fee as it could incentivize them to artificially congest the network to keep it high and earn more. Instead, the base fee is burned, effectively removing

2022-02-04Malalim na Pagsisid

Tezos Secures Sponsorship Deal With Manchester United

It‘s been a pretty productive start to 2022 for Tezos, particularly when it comes to new partnerships. While the blockchain had it’s most notable deal up until last year with Red Bulls F1 racing team, Tezos is building out new brand partnerships, new NFT roll-outs, and now a new sports sponsorship deal with European football club Manchester United.  Tezos & Man U  While Tezos flagship deal was arguably the aforementioned Red Bull partnership, the energy-efficient blockchain also has deals with the MLB‘s New York Mets, McLaren Racing, and most recently, esports organization Team Vitality. The deal with Vitality was the org’s biggest sponsorship yet, and the biggest splash into esports for Tezos to date – kicking off 2022 in full gear.  Tezos is continuing to build on those strong partnerships with this weeks announcement, pairing up with powerhouse European football club, Manchester United. The deal is reportedly a multi-year partnership, with Tezos shelling out north of $27M annually, according to The Athletic.  The deal comes at a time when European clubs are facing increased scrutiny around potential crypto and blockchain partners. In November, neighboring club Manchester City faced public pushback after reports that the club did not conduct its full due diligence in partnering

2022-02-04Malalim na Pagsisid

Kraken Passes Reserve Audit Proof, Allowing Customers to Verify Crypto Balances

Kraken exchange has passed a crypto audit by Armanino LLP, allowing customers to verify cryptocurrency balances.  Krakens Proof of Reserve Audit is designed to allow customers to prove that their Bitcoin and Ethereum balances are safe and provable on the platform.  The US-based crypto exchange, founded in 2011, provides crypto to fiat trading pairs and currently has more than $19 billion worth of bitcoin and ether. Krakens secure on-chain staking service holds $3.5 billion worth of ether.  Armanino Accounting will conduct a cryptographic proof-of-reserves audit of the Kraken exchange on a semi-annual basis according to the attestation standards used by the American Institute of Certified Public Accountants.  Jeremy Welch, Kraken‘s chief product officer, said that customer security has always been a top priority for the company, and that regular reserve proof audits can mitigate significant risks to customer funds, thereby protecting the safety of users’ funds.  He added that:  “Security and transparency for our customers has been at the core of our culture as a company, and the core of our practices and operations from the very beginning,”  Kraken will minimize exposure to customer data privacy, using anonymized balance information, meaning no sensitive customer data will be exchanged.  On December 24, U.S.-based cryptocurrency exchange Kraken announced that it

2022-02-04Malalim na Pagsisid

Meta Shares Down 20% After Facebook's Pivot to Metaverse

By building a metaverse, Facebook is pausing the pursuit of immediate profit.  Judging by the drop in stock price today, investors are not convinced by Facebook‘s plans to dive into the metaverse. Shares of Facebook’s parent company Meta are down more than 20% today in aftermarket trading after it released its 2021 Q4 earnings report.  Facebook cited stagnant user growth in its earnings report as it took its eye off of flagship products and pivoted to creating a metaverse—an internet where people use digital avatars to interact, often with virtual and augmented reality headsets. Several blockchain projects are competing to build an open-source metaverse, powered by cryptocurrencies and Web3 technologies.  The drop is just the latest in bad news for the tech company. Last month, the Diem Association (formerly Libra), spearheaded by Facebook to govern what was meant to be a global digital currency, sold its assets to Silvergate bank for $200 million, effectively ending the social media giants stablecoin ambitions.  That project, launched in June 2019, faced pressure out of the gate from regulators and U.S. Senators Sherrod Brown (D-OH) and Brian Schatz (D-HI), among other lawmakers. In its early days, the association saw the exit of several founding members, including PayPal, Visa,

2022-02-03Malalim na Pagsisid

Disney's New NFT Job Openings Hint At Future Metaverse Plans

The American titan of multinational entertainment Walt Disney Company is looking for NFT experts with a diverse set of skills, a few job openings indicate. The descriptions of the postings hint at the companys larger plans.  Disney To Explode The NFT Space  The media conglomerate currently has four job openings in its careers website that require expertise in the non-fungible tokens ecosystem. Three job openings include “Knowledge of and passion for Digital and NFT categories” as a basic qualification.  It looks like they are looking for “music, entertainment, and technology industries” to intertwine. Sounds like the very beginning of the entertainment giants own metaverse.  Although there is no much information about it yet, lets break down what these job openings can tell us.  Director, Sales & Digital Marketing  This job looks for an expert that can act as key point of contact for “all social media and emerging technology partnerships” and lead DMG efforts for emerging technologies, including “AR/VR, Filters, NFTs, Livestreams, and, more.”  This team is resposible for responsible for the “creative marketing and commerce efforts across key partners like YouTube, VEVO and Social Media.”  Culture Trend Marketing Manager  This job opening is quite interesting because it expands to Disney‘s umbrella of affilates and subsidiaries. The post states

2022-02-03Malalim na Pagsisid

Ascent Award Recognizes KuCoin As Best App of 2022 For Enthusiasts

The Ascent Award has recognized KuCoin as the best cryptocurrency application for enthusiasts in 2022, praising the cryptocurrency exchange for low commissions, high-security measures, transparency, and customer orientation in operations.  The mobile application of the global KuCoin cryptocurrency exchange has been recognized as the best application for enthusiasts by an annual survey conducted by The Ascent. Among the other cryptocurrency exchanges noted by The Ascent were Gemini, Coinbase, Binance.US, Crypto.com and FTX, all of which were noted for outstanding achievements in ensuring high accessibility and convenience to digital assets.  The Ascent has highlighted KuCoins significant user base growth and trading volumes, which have exceeded $1 trillion in cumulative terms in 2021, and $3 billion in daily turnover for Futures and Spot Trading. Such recognition comes weeks after KuCoin announced that it surpassed the 10 million users threshold in late 2021. The statistics place KuCoin in the top five crypto exchanges on CoinMarketCap and Coingecko.  KuCoin positions itself as the exchange “by the people for the people”, oriented at altcoin trading. The exchange offers over 1,100 trading pairs and has hosted the listing of over 640 cryptocurrencies, which have later been recognized as gems. In an effort at achieving higher metrics, KuCoin has recently

2022-02-03Malalim na Pagsisid

Coachella Will Issue NFTs in Partnership With FTX.US

The music festival is offering memorabilia and virtual passes as non-fungible tokens.  The California music festival Coachella is planning to issue a series of non-fungible tokens, according to its website.  Collection Includes Passes, Posters, Photos  Coachella is getting into the NFT business.  Coachellas NFT collection will include ten “key” NFTs that serve as lifetime passes. The passes will grant access to annual festivals each April as well as access to online concerts. These NFTs do not have a set price but will be auctioned to the highest bidder.  The series also includes two larger NFT collections. The “Sights and Sounds” collection will include 10,000 tokens featuring photos and music from past festivals. These will be priced at $60 each.  There will additionally be 1,000 NFTs in the “Desert Reflections” collection, which features ten digital posters from past Coachella concerts. NFTs in this series will be priced at $180 each.  Buyers of these NFTs will be able to redeem their purchase for physical prints of the respective poster or photograph.  Coachella will mint its NFTs on the Solana blockchain. Festival representatives noted in various statements that Solana is a sustainable blockchain. Unlike Ethereum, Solana does not rely on mining and uses very little energy.  Sales will begin on February 4

2022-02-02Malalim na Pagsisid

Bitcoin Options Traders Turn Bearish: Report

Options traders are demanding put options over calls, but are generally hesitant to bet on Bitcoins next movements, according to a report from Arcane Research.  Arcane Research, a cryptocurrency market analysis firm, notes that Bitcoin options traders are “bearish, but hesitant” in a newly released report. Following Bitcoin‘s slump through December and January, it claims that investors haven’t been this long-term bearish since the crash of May 2021—when the price of BTC dropped to $30,000 from its then-record high of $64,000 a month prior.  The report relies on implied volatility, which forecasts the range in which traders believe a security or cryptocurrencys price is likely to move, to come to this conclusion.  Options allow traders to bet on the price movements of an underlying asset. They buy the option to make a transaction if the asset reaches a target price. Options for volatile assets have higher demand, since they present more potential for profit. Therefore, when assets are highly volatile, options for them are more expensive.   Implied volatility for Bitcoin is currently sitting at its lowest level since May 2021, at about 70%. That percentage refers to a statistical probability within one standard deviation that BTCs price will change by 70%; during 2021,

2022-02-02Malalim na Pagsisid
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