Tezos
Nifty News: Building bridges in the Metaverse, elaborate Apes scam and more
South Korea’s Gyeongbuk Province has announced plans to use Web3 technology to expand its economic relations with Vietnam. In a Dec. 19 announcement, the province’s governor Lee Cheol-woo said the metaverse project would focus on “growing economic, cultural, commercial, and people-centered contacts with Vietnam.” Back in June, the province announced it would invest $13.8 million to establish itself as a hub for metaverse innovation in the hope of growing the local economy. South Korea has been very active in metaverse development since the beginning of 2022 and it aims to become the fifth most metaverse-ready country in the world. It has allocated $186.7 million to create an all-encompassing metaverse platform known as the Expanded Virtual World. 14 Bored Apes stolen in phishing scam ...
Here is why a 0.75% Fed rate hike could be bullish for Bitcoin and altcoins
The S&P 500 and the Nasdaq Composite index suffered their worst weekly performance since June as investors remain concerned that the Federal Reserve will have to continue with its aggressive monetary policy to curb inflation and that could lead to a recession in the United States. Bitcoin (BTC) remains closely correlated to the S&P 500 and is on track to fall more than 9% this week. If this correlation continues, it could bring more pain to the cryptocurrency markets because Goldman Sachs strategist Sharon Bell cautioned that aggressive rate hikes could trigger a 26% fall in the S&P 500. Crypto market data daily view. Source: Coin360 The majority expect the Fed to hike rates by 75 basis points in the next meeting on Sept. 20 to Sept. 21 but the FedWatch Tool shows an 18% probab...
Fake Manchester United token soars 3,000% after Elon Musk jokes about buying team
Manchester United Fan Token (MUFC) is a dead coin and not related to the sports franchise, but one Elon Musk tweet was enough to revive it on Aug. 17. Also, I’m buying Manchester United ur welcome — Elon Musk (@elonmusk) August 17, 2022 Fake Man U token pumps after Elon Musk’s tweet To clarify, MUFC is not an official Manchester United crypto token. It came to life in August 2021 after a team of programmers, who are said to be hardcore Manchester United fans, falsely claimed that holding MUFC would give buye influence on the football club’s decisions. The team later conducted an “airdrop” round of 10,000,000,000 MUFC in November 2021, promising to provide 10,000 MUFC to users who followed its official social media handles. The prospects of getting free MUFC tok...
All ‘Ethereum killers’ will fail: Blockdaemon’s Freddy Zwanzger
Blockdaemon’s ETH ecosystem lead Freddy Zwanzger believes Ethereum will retain its leadership position in the crypto ecosystem over the coming years due to its utility as a smart contract platform and upgrades to the network following the Merge. Speaking to Cointelegraph during the Ethereum Community Conference (EthCC) this week, Zwanzger said: “It’ll continue to be a leader. I mean, obviously, the first and most important smart contract platform, and that’s not going to change.” Blockdaemon is an institutional-grade blockchain infrastructure platform that offers node operations and infrastructure tooling for blockchain projects. The Blockdaemon employee also took aim at so-called “Ethereum killers” — competing Layer 1 blockchains — which have tried to topple Ethereum fro...
Top 5 cryptocurrencies to watch this week: BTC, FTT, XTZ, KCS, HNT
Bitcoin (BTC) is threatening to drop to its worst weekly close since December of 2020. The crypto markets are in are held firmly in a vice grip and the selling accelerated following a higher-than-expected inflation report from the United States on June 10. It is not only the crypto markets that are facing the brunt, even U.S. equities markets finished the week ending June 10 with sharp losses. Risky assets may remain volatile in the near term as traders await the outcome of the U.S. Federal Open Market Committee meeting on June 14 and June 15. Crypto market data daily view. Source: Coin360 Bloomberg Intelligence senior commodities strategist Mike McGlone warned that if the stock markets continue to drop, then it will signal that most assets may have seen their peak exuberance in the ...
Top 5 cryptocurrencies to watch this week: BTC, ETH, XTZ, KCS, AAVE
After declining for eight successive weeks, the Dow Jones Industrial Average rebounded sharply last week to finish higher by 6.2%. However, Bitcoin (BTC) has not been able to replicate the performance of the United States equities markets and is threatening to paint a red candle for the ninth week in a row. A positive sign is that Bitcoin whales have been buying the market correction. Glassnode data shows that the number of Bitcoin whale wallets with a balance of 10,000 Bitcoin or more has risen to its highest level since February 2021. The accumulation in the whale wallets suggests that their long-term view for Bitcoin remains bullish. Crypto market data daily view. Source: Coin360 Blockware Solutions highlighted that the Mayer Multiple metric which compares the 200-day simple moving aver...
Top 5 cryptocurrencies to watch this week: BTC, ALGO, XMR, XTZ, THETA
The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure. Bitcoin has extended its decline during the weekend and is now on track for its sixth successive weekly loss, the first such occurrence since 2014. The weakness in Bitcoin has pulled down the entire crypto markets, whose market capitalization has dipped below $1.6 trillion. Crypto market data daily view. Source: Coin360 When the sentiment is bearish, traders sell on every negative news. The de-peg of Terra’s U. S. dollar stablecoin TerraUSD (UST) also appears to be increasing sell pressure across the crypto market. After Bitcoin’s s...
Tezos co-founder Arthur Breitman discusses the untapped potential of DeFi
Arthur Breitman, the co-founder of layer-1 protocol Tezos (XTZ), spoke with Cointelegraph’s Jackson DuMont at the Paris Blockchain Week Summit (PBWS) last week about what it would take to unlock the true potential of decentralized finance, or DeFi. Breitman delivered a keynote speech following this interview about the company’s strategy. Related: Paris Blockchain Week, April 14: Latest updates from the Cointelegraph team on the ground According to Breitman, “people haven’t really tapped into DeFi for real-world assets being tokenized.” When he says real-world assets, he means stocks, real estate, digital art or “anything you can think of.” While calling for a merge of traditional financial securitization and DeFi applications, Breitman also be...
Manchester soccer rivalries commence in field of Web3
Leading English soccer club Manchester City has announced an inaugural partnership with cryptocurrency exchange OKX across both its men’s and women’s teams, as well as the club’s emerging esports ventures. According to the club’s press release, the collaboration will focus on “exclusive experiences for OKX’s global customer base, in addition to an in-stadium presence across the Etihad Stadium and Academy Stadium.” OKX, which rebranded from OKEx earlier this year, is the second-largest spot exchange in the industry, reportedly having reportedly over 20 million customers and facilitating over $4.3 billion in normalized trading volume over the past 24 hours. This total places it ahead of Coinbase, which is in third at approximately $3.3 billion, but a ways behind Binance’s dominance...
Top 5 cryptocurrencies to watch this week: BTC, LEO, MANA, KLAY, XTZ
Russia’s massive build-up of soldiers, warplanes, equipment and extended military drills near Ukraine’s borders increased fears of a possible invasion within the next few days. That could have renewed selling in Bitcoin (BTC), which plummeted below the strong support at $39,600. Among the gloom and doom, there is a ray of hope for crypto investors because data from Glassnode shows that more than 60% of Bitcoin supply has not been used in any transaction for more than a year. This suggests that long-term hodlers are not dumping their positions in the downtrend. Crypto market data daily view. Source: Coin360 Mike McGlone, chief commodity strategist at Bloomberg Intelligence, warned that Bitcoin could be in for a “rough week ahead” and cautioned that “inflation is unlikely to drop...
Man United onboards Tezos as its official Web3 and training kit partner
Manchester United, one of the oldest soccer clubs in the world, has confirmed its partnership with blockchain firm Tezos as the official training kit and technology partner. The soccer club aims to introduce its fans to the decentralized Web3 tech amid growing focus from mainstream firms and brands. The team would make its first appearance in the new kit on Saturday against Southampton. Manchester United’s previous sponsorship deal with Aon expired last month, and Tezos will be paying 33% on top of the previous agreement at $27 million yearly. Tezos will help the soccer club gain more exposure to Web3 technologies and might play a key role in launching various digital fan merchandise and collectibles soon. A majority of global sports brands are experimenting with blockchain- and Web3-cente...
Swiss bank to offer Tezos staking, XTZ clears $4.00 for the first time in over two weeks
Tezos has been trading below $4.00 since 20th January Last week, one of Switzerland’s leading banks announced it is offering Tezos staking Tezos, like most of the crypto coins in the market, is trading in the green with approximately 22% of gains over the past seven days. The price of the crypto asset surged past $4.00 earlier today but has since retreated slightly to $3.98. The last time Tezos traded in this range was during the third week of January. The latest price development comes less than a week after CCRI ranked Tezo as one of the lowest energy-consuming networks. Tezos is only second to Polkadot in lowest energy consumption A report shared by the research firm Crypto Carbon Ratings Institute (CCRI) last week shows that Tezos consumes less electricity than the majority of th...
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