Crypto Shake

2023-03-26 14:15:00 ​‘If a government bans drugs, it should also ban crypto’ — Belgium’s former finance minister.

Members of the European Parliament have been discussing the impact of the failure of Silicon Valley Bank, Signature Bank and Silvergate Bank on markets in their jurisdictions.

Johan Van Overtveldt, a member of the European Parliament and the former Minister of Finance of Belgium, has called for a “strict ban” on crypto as a result of the current banking crisis.

In a March 17 tweet, Overtveldt suggested lawmakers should consider banning cryptocurrencies as a “lesson” from the collapses of Silicon Valley Bank, Signature Bank and Silvergate Bank in the United States, referring to digital assets as “speculative poison.” Members of the European Parliament have been discussing the impact of the failure of these banks on markets in its jurisdiction. Open / Comment

2023-03-24 20:12:55 Millix is a novel open-source cryptocurrency project. Millix is fully decentralized, designed for simplicity, energy efficiency, and low cost.

Unlike blockchain cryptocurrencies, millix is built on the logic of Directed Acyclic Graph (DAG) to transact at very high speed and very large scale. The millix ecosystem is powered by MLX token. Wrapped MLX (WMLX) bridges the millix ecosystem with the ethereum network.

Millix is original work and was not built on a copied code base of existing work. It has no points of centralization, no designed bottlenecks, or a hierarchy of participants of capabilities. millix data is natively sharded.

Wrapped Millix to be listed on the P2B exchange on March 28, 2023.

For more information about this impressive project, visit the website https://millix.org/ and https://twitter.com/MillixOrg Open / Comment

2023-03-22 14:15:00 ​NFT wash trading increases by 126% in February.

The NFT market saw an uptick in wash trading following a recovery in NFT marketplace trading volume which hit $1.89 billion in February.

The top six nonfungible token (NFT) marketplaces saw a rise in NFT wash trading for the fourth straight month with a total volume of $580 million.

According to a new report from CoinGecko, February 2023 witnessed a 126% increase from the previous month’s volume of $250 million. As for a reason for the jump, the report points to a correlation with the overall recovery of NFT marketplace trading volume, which hit $1.89 billion in February.

The six marketplaces included in the report were Magic Eden, OpenSea, Blur, X2Y2, CryptoPunks and LooksRare. X2Y2, Blur and LooksRare played the largest roles in February’s volume for NFT wash trading with $280 million (49.7%), $150 million (27.7%) and $80 million (15.1%), respectively. Open / Comment

2023-03-20 12:15:00 ​Underground Crypto Mining Farms Shut Down Across Russia

Police and power suppliers have uncovered and dismantled illegal crypto mining installations in Siberia and Southern Russia, local crypto news outlets reported this week, quoting authorities. In one of the cases, the organizers of a mining enterprise have been charged with stealing large amounts of electricity.

Employees of Rosseti North Caucasus found a fairly large improvised mining farm in Shpakovsky district of the Stavropol Krai. Together with law enforcement, they confiscated 66 ASIC miners, the region’s power electric company announced on Friday.

A resident of the village of Nadezhda, who placed the equipment in his house and connected it to the grid, may now face criminal liability for running the underground facility. Power engineers have estimated that it burned 954,000 kWh of electricity for over 6 million rubles ($78,000). Open / Comment

2023-03-16 22:31:43 ​Less than 0.5% Nigerians have used the country's CBDC e-Naira a year after its launch

Nigeria’s Central Bank Digital Currency (CBDC) e-Naira is failing because of low adoption rates while the government is trying to drive adoption higher, Bloomberg News reported.

The E-Naira was launched in October 2021 and has been live for 14 months as of December but the adoption rate remains low.

Current numbers indicate that only one in 200 people are using the e-Naira, which equates to less than 0.5% of the population. Within the first eight months after its launch, only 700,000 users created an e-Naira wallet.

According to the report, the government is trying to drive adoption by offering a 5% discount on e-Naira payments in Keke Napep, the country’s most widely used transportation system.

Talking about the desired future of the e-Naira, Nigeria’s Central Bank Governor Godwin Emefiele said:

“The destination, as far as I am concerned, is to achieve a 100% cashless economy in Nigeria,”

Meanwhile, the country’s central bank has taken a hands-off approach toward crypto. Nigerian financial institutions are banned from creating and managing crypto-related accounts but trading and owning crypto remains legal in the country.

However, in a recent turn of events, the Nigerian Securities and Exchange Commission said on Dec. 19 that it is set to recognize crypto as an investment class. Open / Comment

2023-03-14 21:52:36 Aussie Digital—a game-changing e-commerce ecosystem powered by a Digital Token, AUDcoin. The ecosystem consists of all the tools you need to build and maintain an online business.

The ecosystem includes the following projects:
E-commerce platform "Tradezy" ;   https://tradezy.io
Exchange Platform "Tradedo" ;        https://tradedo.io
Social media platform "Chatezy".    https://chatezy.io

Until AUDcoin, most entrepreneurs had to go through multiple hurdles to set up and scale up their online businesses. Aussie Digital provides plenty of support to the users, thus preparing them for this next level of business.

If you are interested in the topic of cryptocurrencies, online business and e-commerce join AUD community. Follow the link:  https://t.me/AUDOfficialGroup  Open / Comment

2023-03-13 13:00:19 ​Aavegotchi bonding curve closes on exact day of DAI depeg.

The price of GHST was supported by that of DAI stablecoin for over two years.

According to play-to-earn nonfungible tokens (NFT) protocol Aavegotchi on Mar. 11, the entity closed the bonding curve defining the exchange rate between its namesake token (GHST) and the DAI U.S. dollar stablecoin (DAI). The same day, the DAI stablecoin depegged as part of the ongoing USD Coin destabilization, which was, in turn, caused by $3.3 billion in stuck stablecoin collateral deposits owed to its issuer Circle by now-defunct Silicon Valley Bank.

GHST is described as an "entry ticket" into Aavegotchi, where users can use the token to purchase NFT portals, wearables, consumables within the Aavegotchi game, stake to farm rewards, or participate in DAO governance. The Aavegotchi bonding curve was created on Sept. 14, 2020, with an opening price of 0.2 DAI per GHST. Open / Comment

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2023-03-10 12:30:00 ​Like Venezuela, Some Retailers in Argentina Are Now Pricing Items in Dollars

Some retailers in Argentina are already pricing imported items in U.S. dollars, according to reports from local news outlets. The idea behind this would be to keep prices stable and avoid repricing articles each day, a practice that has already been adopted in other Latam countries like Venezuela, which present high levels of inflation.

The U.S. dollar is starting to make inroads in Argentina as a unit of account. According to reports from local outlets, some Argentine stores and retailers are pricing their goods in dollars, seeking to avoid constant repricing due to the devaluation of the national fiat currency, the Argentine peso.

According to reports from La Nacion, these prices are mostly associated with clothing, including sneakers, and branded t-shirts and caps, that are mostly imported from other countries. However, to purchase these articles, customers can also pay with Argentine pesos, using the informal exchange rate, called “blue,” as a reference to calculate the final price in local currency. Open / Comment

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