Crypto Mountains

2024-01-01 19:00:00 Crypto Ban in Nigeria Stalls eNaira Adoption Despite Global Recognition

Chinedu Albert, a legal expert specializing in Nigerian tech and innovation, has attributed the challenges facing the adoption of the eNaira, the Central Bank of Nigeria’s digital currency (CBDC), to a previous crypto ban.

In an exclusive interview with Cointelegraph on December 29, Albert described the eNaira as an ambitious concept. However, he observed that it reflects the government’s response to its “ill-advised” decision to enforce a sweeping ban on cryptocurrencies and other virtual assets on February 5, 2021.

In 2021, Chainalysis data revealed that Nigeria secured the sixth position in the Global Crypto Adoption Index, boasting an overall score of 0.26%, slightly surpassing the United States at 0.22%.

Despite this seemingly commendable standing, Albert argued that the eNaira faces challenges due to its vulnerability to government policies and inflation, key factors contributing to its subdued adoption. Open / Comment

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2023-12-29 18:01:30 Hong Kong-Based Value Partners Plans to Tokenize 3 Tons of Gold and Roll Out Cryptocurrency ETFs

Value Partners, a Hong Kong-based company says it has plans to tokenize gold assets and also make an entry to the much anticipated Exchange Traded Fund (ETF) market.

According to a report from local media sources, Zhao Shande, a senior strategist of the firm’s ETF business spoke on the United States inflation policies such as raising interest rates and its impact on the economy.

The analyst expects gold prices to rise and maintain this year’s momentum as investors turn to the asset to avert negative macroeconomic conditions. Asserting his bullish gold stance, he projects prices of $2,300 per ounce advising classes of investors to withdraw from stocks and increase their gold exposure.

“Market expectations for an early interest rate cut in the United States are rising, but Zhao Shande believes that the U.S. economic data is still inconsistent and the Federal Reserve will adopt a cautious approach when deciding whether to cut interest rates. Judging from the current situation, according to his assessment, the chance of a soft landing for the US economy is “50:50…” Open / Comment

2023-12-26 18:01:13 Bitfinex Market Analysts Predict $3.2 Trillion Crypto Market Capitalization

Bitfinex analysts say the digital asset market capitalization could hit $3.2 trillion if bullish factors remain amid soaring prices towards the end of the year.

In a new market report, the firm made market projections ahead of the new year with present market forces and indices highlighting the growth recorded so far amid regulatory challenges in several jurisdictions.

According to the report, 2024 is met with a positive outlook from several quarters in the industry because of the drive of investors and asset prices pushing through despite a shaky start of the year.

Market analysts at the company predict the total market capitalization to tap $3.2 trillion with present bullish sentiment trickling into the new year. With the current market cap at $1.6 trillion, an uphill run hinged on several factors including institutional inflows on the back of a spot Bitcoin ETF.

The report touches on how wider macroeconomic conditions can affect the prices of crypto assets, noting a positive outlook ahead. Citing wages, demand, and inflation, cryptocurrencies can expect more inflows after a horrid 2022 riddled with plunging asset prices and gripping macroeconomic factors. Open / Comment

2023-12-25 18:00:09 xChief Grand "Gold Whale" Contest

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2023-12-23 21:00:21 BarnBridge DAO and Founders Agree to $1.7 Million Settlement with SEC

BarnBridge DAO and its two founders are set to pay the SEC over $1.7 million to settle allegations of neglecting to register the offer and sale of BarnBridge’s structured crypto asset securities.

In a press release published on Friday, the Securities and Exchange Commission (SEC) announced that BarnBridge DAO, and its two founders, Tyler Ward and Troy Murray, will pay more than $1.7 million after failing to register the offer and sale of BarnBridge’s SMART Yield bonds, its own version of structured crypto asset securities.

The SEC has additionally charged BarnBridge and its two founders with violations related to the operation of BarnBridge’s SMART Yield pools, alleging that they functioned as unregistered investment companies.

In order to resolve the charges brought forth by the SEC, BarnBridge has agreed to yield almost $1.5 million in proceeds from the sales. Additionally, both Ward and Murray have individually agreed to pay civil penalties amounting to $125,000 each.

“The use of blockchain technology for the unregistered offer and sale of structured finance products to retail investors runs afoul of the securities laws,” said Gurbir S. Grewal, director of the SEC’s Division of Enforcement. “This case serves as an important reminder that those laws apply to all who wish to access our capital markets, regardless of whether they are, or purport to be, incorporated, decentralized or autonomous.” Open / Comment

2023-12-22 18:00:08 $MEAN ready for a new ATH - can do +80% from here

Mean Finance $MEAN broke out of a 9-month accumulation with strength – no resistance between here and the ATH at 0.104. That would be a 100% pump in spot, but $MEAN can definitely go higher.

Plan C (orange) is possible if we get a deep BTC retracement on some ETF news. In that case, better to DCA and hold this Solana OG token until mid-2024 at least.

Could easily go from $6 mil market cap to $100 mil, because Mean Finance has something that 90% of tokens on Solana don’t: real utility.

— Treasury management (crypto payroll, taxes, revenue from token sales etc.)
— Multisig + token vesting for projects
— 100+ treasuries already
— 16 institutional backers


https://meanfi.com/
Twitter
$MEAN on Gate.io Open / Comment

2023-12-20 20:31:02 7RCC Applies for an ESG-focused Spot Bitcoin ETF

Asset manager 7RCC has formally submitted a spot Bitcoin exchange-traded fund (ETF) application focused on environmental, social, and governance (ESG) principles to the Securities and Exchange Commission (SEC). As detailed in the proposal filed on December 18, the ETF is structured to appeal to ESG investors. In line with this commitment, the application will consist of 80% Bitcoin (BTC) and 20% carbon credit futures.

The Bitcoin component provides exposure to the cryptocurrency market while including carbon credit futures, reflecting a dedication to supporting environmentally responsible initiatives. The 7RRC proposal adopts a balanced approach, aiming to appeal to investors seeking financial returns and a portfolio aligned with their ESG values.

If approved, the asset manager will create a novel investment opportunity under the ticker name BTCK, which will merge digital assets and sustainable finance. However, the S-1 filing doesn’t address the ongoing debate about the preferred mechanism, “cash or in-kind,” for licensed participants to create and redeem shares of the Bitcoin ETF. Open / Comment

2023-12-17 18:00:00 Red Bull Formula 1 Team Launches NFT Collection on Sui Blockchain

The Red Bull Formula 1 team has dropped an exclusive NFT collection on the Sui blockchain after a dominant performance in the 2023 Formula 1 season.

The team announced in a press release Friday that fans would be able to mint the collectibles free of charge exclusively on Sui, the team’s official blockchain partner, for a limited time.

The NFT drop comes on the heels of Oracle Red Bull Racing’s hugely successful year, marked by a range of unprecedented achievements. The team set a record for the highest number of championship points in a single season, led the most laps, achieved the Team’s inaugural one-two individual driver finish, and witnessed driver Max Verstappen securing the highest points tally ever in a single Formula 1 season.

Verstappen finished with a remarkable 575 points, more than double that of his teammate Sergio Perez’s 285.

“After such an incredible and record-breaking season, we are excited to be working in close collaboration with our partners Sui and Bybit to offer fans a unique part of the Team’s history, with our celebratory digital memorabilia,” said Dan Mitchell, Senior Marketing Manager of Oracle Red Bull Racing. “It is important that we continue to engage and connect with fans around the world in new and innovative ways, and this collaboration takes this to the next level: giving our fans access to digital collectibles and virtual experiences.” Open / Comment

2023-12-14 20:00:07 $UNILAPSE: New ATH for Christmas?

Impressive chart - $UNILAPSE is already trading higher than the listing pump.

But you know what?

You haven’t seen the real pump yet!

Once staking + airdrop start on Dec 18, $UNILAPSE should go to at least $0.04 as per the Fib extensions - that’s a new ATH.

Unilapse also has strong fundamentals to match the TA:

Popular South Korean NFT marketplace
The only platform with both NFT staking and token staking
Multichain: ETH, BNB, MATIC, KLAY
NFT membership sales are about to start
An airdrop for stakers!

Trade UNILAPSE on MEXC
Official Telegram Open / Comment