The company enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions.
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Shopify unveils tokengated commerce as part of new connect-to-consumer experience
Select merchant partners will be able to rollout exclusive goods for NFT tokenholders.
Bitcoin price rises to $20.7K as Fed's Powell says more rate hikes 'appropriate'
Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on monetary policy.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
Powell keeps quiet on Fed moves
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $20,500 at the June 22 Wall Street open.
The pair had wicked below the $20,000 mark overnight before recovering, still down from the previous day's $21,700 highs.
Markets braced for last-minute surprises from testimony to Congress by Fed Chair Jerome Powell on the day, this ultimately providing no fresh insight into the central bank's approach to taming rampant inflation.
"We anticipate that ongoing rate increases will be appropriate; the pace of those changes will continue to depend on the incoming data and the evolving outlook for the economy," a copy of Powell's testimony released before his appearance read.
Meet the Snoop Dogg impersonator who walked around NFT.NYC
Doop Snogg, the impersonator, was hired to “drum up excitement” at the NFT.NYC conference.
Bitcoin price wicks below $20K as whales send 50K BTC to exchanges
Bitcoin (BTC) saw a dramatic change of mood into June 22 as multi-day highs gave way to a fresh dive under $20,000.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
BTC could see accumulation below key trendline
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly halting its latest gains to hit lows of $19,947 on Bitstamp.
The largest cryptocurrency had passed $21,700 the day before, its best performance since June 16, but momentum waned during Wall Street trading.
For popular trader and analyst Rekt Capital, there was danger in BTC/USD being unable to reclaim its 200-week moving average (MA).
As a classic support line in previous bear markets, Bitcoin had formerly retained the 200-week MA as support with wicks below it characterizing macro price bottoms.
Roxe Holding in talks for listing on Nasdaq via $3.6B SPAC deal
The firm has entered an agreement with special purpose acquisition company Goldenstone Acquisition Ltd, through which it will pursue the listing.
Crypto resonates better with BIS’ vision of ideal monetary system
The report awarded points to the fiat ecosystem for the safety and stability policy while highlighting that “Public oversight has helped achieve safe and robust payment systems.”
Solana whale moves $25M of USDC debt from Solend to Mango Markets
The move reduces the utilization of USDC within the Solend platform and allows users to withdraw their assets once more.
Tether to launch GBPT stablecoin pegged to British pound sterling
Tether expects to be part of industry innovation in the United Kingdom as the country is planning to adopt stablecoins as a means of payment.
Blockchain isn’t as decentralized as you think: Defense agency report
The report published Tuesday highlights several scenarios in which various actors can garner excessive, centralized control of a blockchain system.
‘Disappointing:’ Cardano devs delay Vasil hard fork by a month
While IOHK admitted the news was disappointing, the firm stated it is taking an “abundance of caution” to ensure the Vasil upgrade is implemented correctly.
BIS compares projects to transfer central bank digital currencies across borders
The international bank found high technical feasibility among the projects, but significant work on legal and governance frameworks still remains to be done.
Avalanche (AVAX) price drops 45% in a month and data points to further downside
Avalanche (AVAX) is down 45% in 30 days and in the same time the cryptocurrencies total market capitalization shrank by 29%.
Despite the recent downturn, this decentralized application (DApp) platform remains a top contender in the layer-1 and layer-2 race and it ranks high in terms of smart contract deposits and active addresses. Yet, the lackluster token price is still causing investors to rethink whether the network remains a “serious” competitor.AVAX token/USD at FTX. Source: TradingView
The brutal sell-off on risk assets caused AVAX to test the $14.80 support multiple times, while the current market capitalization stands at $4.8 billion. It’s important also to note that the network’s total value locked (TVL) holds an impressive $3.2 billion.
As a comparison, Solana (SOL) offers incredibly low network fees and holds a $2.1 billion TVL. Yet, SOL token’s market cap stands at $12.9 billion, which is almost three times larger than Avalanche’s valuation at the $14.80 price level.
The TVL indicator is extremely relevant because it measures the deposits on the network’s smart contracts. If we use Polygon (MATIC), an Ethereum layer-2 solution, as a proxy, the network holds a $1.8 billion TVL while the token's market capitalization stands at $3.5 billion.
Why cross-chain interoperability matters for DeFi
With hundreds of cryptocurrency exchanges available for users to transact on, the question becomes centralized or decentralized, neither of which offers an efficient solution.
Bank of Israel experiments with central bank digital currency smart contracts and privacy
The Israeli central bank looked at trust issues and policy decisions implied in a potential digital shekel, as well as some of the technical aspects of digital currency.
Is there a way for the crypto sector to avoid Bitcoin’s halving-related bear markets?
There is good reason to be afraid. Previous down markets have seen declines in excess of 80%. While tightfisted hodling might hold wisdom among many Bitcoin (BTC) maximalists, speculators in altcoins know that diamond handing can mean near (or total) annihilation.
Regardless of one’s investment philosophy, in risk-off environments, participation flees the space with haste. The purest among us might see a silver lining as the devastation clears the forest floor of weeds, leaving room for the strongest projects to flourish. Though, doubtlessly, there are many saplings lost who would grow to great heights themselves if they had a chance.
Investment and interest in the digital asset space are water and sunlight to the fertile ground of ideas and entrepreneurship. Less severe declines better serve the market; better a garden than a desert.
A brief history of crypto bear markets
In order to solve a problem, we must first understand its catalyst. Bitcoin and the wider digital asset space have survived a number of bear markets since its inception. By some accounts, depending on one’s definition, we are currently in number five.The five Bitcoin bear markets. Source: TradingView
The first half of 2012 was fraught with regulatory uncertainty culminating in the closure of TradeHill, the second-largest Bitcoin exchange. This was followed by the hacks of both Bitcoinica and Linode, resulting in tens of thousands of Bitcoin lost and dropping the market by some 40%.¹ But, the price rebounded, albeit briefly, finding new heights above $16 until further hacks, regulatory fears and defaults from the Bitcoin Savings and Trust Ponzi Scheme collapsed the price yet again, down 37%.¹
GameFi continues to grow despite crypto winter: DappRadar report
The report seems to show that turbulence in the crypto markets has failed to rattle investments and forward movement of several GameFi and metaverse projects.
Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuation
Magic Eden accounts for over 90% of NFT trading volume on Solana.
BIS: 90% of Central Banks are researching the utility of CBDCs
The institution's future monetary vision includes exploring innovations grounded in trust in central banks' stable sovereign currencies and safe payment systems.
Japanese film studio announces the production of a series based on crypto
Animator Haruna Gohzu, who worked in popular anime like Pokémon and the Demon Slayer movie, will lead the animation in the films.