CRYPTOGALACTIC

2023-05-09 16:38:12 Blur NFT lending protocol gets mixed reactions from the community

Nonfungible token (NFT) marketplace Blur recently launched its collateralized lending protocol called Blend, allowing a buy now, pay later approach to purchasing NFTs. Members of the community had varying reactions. Some believe that it’s a massive development for the space, while others called on the United States Securities and Exchange Commission (SEC) to protect users against such products.

On May 1, Blur launched a peer-to-peer perpetual lending protocol called Blend, a platform it developed with the help of venture capital firm Paradigm. The protocol supports NFT collateral, and the team claims it would collect zero fees from lenders and borrowers. The community member may be referring to the dwindling number of NFT buyers in April. According to data from the analytics platform NFTGo, sellers dominated the NFT market in the month. Open / Comment

2023-05-08 16:26:56 SEC has 10 days to respond to Coinbase complaint: Legal exec

Coinbase’s legal battle for regulatory clarity over the trading of digital crypto assets saw a development as a U.S. court responded to its complaint against the SEC.

According to a May 4 announcement from Coinbase chief legal officer Paul Grewal, the United States Court of Appeals for the Third Circuit responded to the complaint against the U.S. Securities and Exchange Commission (SEC) regarding the need for clear rules for trading digital assets. This marks a development in the legal battle for regulatory clarity.

According to Grewal, the court’s response to their complaint against the SEC was a text-only order. The court has instructed the SEC to respond to Coinbase’s writ of mandamus within ten days. A writ of mandamus is a court order addressed to an inferior government official, ordering them to fulfill their official duties properly. Open / Comment

2023-05-07 20:02:08 ETH has hit 0.0671 level, but hasn't fixed above. Without that fixation I can't consider Ethereum bullish! Open / Comment

2023-05-06 17:29:08 The U.S. White House released the National Standards Strategy for Key and Emerging Technologies, offering key support for eight technologies, one of which is digital identity infrastructure and distributed ledger technology, on the grounds that this technology will impact a number of key economic sectors, becoming increasingly large. Open / Comment

2023-05-05 15:24:39 The overall Ethereum supply has decreased by 0.199% over the recent 231 days (since The Merge happened).
Meanwhile, using the PoW model, the overall supply would have increased by 3.321%.

This is an official WIN by PoS model. Open / Comment

2023-05-04 21:25:12 $3.23 Million Worth Of NFTs Were Stolen In April, The Lowest Level At The Moment

Non-fungible tokens (NFTs) have spurred renewed interest in blockchain technology. Although this market has been slowly losing its traction recently, scam activity is not the same, this April, the level of theft on popular NFT markets has decreased but is more concentrated in Blur.

According to PeckShieldAlert’s early warning and monitoring, in April 2023, NFTs worth approximately $3.23 million were stolen, a decrease of 68% from the previous month. The recent theft of MAYC №8530, an NFT, has reignited these fears. In this post, we will go into the specifics of the robbery, the blockchain community’s reaction, and what it implies for the future of the NFT business. MAYC №8530, an NFT, was allegedly unsold for 528 days before being stolen.

The most recent transaction prior to the heist was for 7.45 ETH, which is equal to $14,195.30. The MAYC №8530 sold for a 10.7 Blur Pool shortly after PeckShield’s notice. Regardless of one’s feelings about theft, it is evident that security will remain a big problem in the NFT industry. As the value and ubiquity of NFTs rise, it is expected that hackers and other harmful actors will become more focused on exploiting system weaknesses. Open / Comment

2023-05-03 14:31:44 Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries

International analysts have called out the supposed use of the national security policy of the U.S. as a tool to justify the establishment of blockades and economic sanctions against countries like China and Russia.

While U.S. Treasury Secretary Janet Yellen has recognized that a decoupling of the economies of the U.S. and China would be “disastrous,” the U.S. government is said to be putting its security policies over this concern.

Several analysts have referred to the usage of the U.S. national security policy as a pretext to establish economic sanctions and take unjustified measures against other countries. Open / Comment

2023-05-02 15:22:26 William Shatner Warps Into Web3 With ‘Infinite Connections’ NFT Release

The original "Star Trek" captain and longtime Twitter crypto guy officially dropped his non-fungible token (NFT) release, Infinite Connections, during CoinDesk’s Consensus 2023 conference. Infinite Connections comprises two collections: Cosmic Explorer, with 2,500 NFTs that feature a Shatner 3D avatar paired with artwork that explores scientific themes like quantum physics and sonic vibrations.

Each one also includes a physical action figure of Captain James T. Kirk, the role for which Shatner is best known, each hand-signed by Shatner with a quote from the character. The other collection is Timeless Voyager, which includes 1,000 NFTs of 2D artwork of future tech and the cosmos. There’s no action figure included, but “select” holders will have access to unspecified IRL opportunities. Open / Comment

2023-05-01 13:40:23 46% of millennials across major economies own crypto

The study featured over 255,000 respondents across 26 countries in four age groups.

A new survey suggests that 46% of millennials across major population countries, such as the United States, China, Japan, Germany, Indonesia and Nigeria, own cryptocurrencies.

The study, conducted between July 2022 and January 2023 and published on April 28 by cryptocurrency exchange Bitget, featured approximately 255,000 adult respondents from 26 countries, with around 10,000 respondents per country. The survey revealed that 46% of millennial respondents owned cryptocurrencies, compared with 25% of Gen X, 21% of Gen Z and 8% of baby boomers. The confidence interval for the study is 95%, with a margin of error of ± 0.1%.

In addition, 4% of baby boomers, 6% of Gen X, 27% of millennials and 36% of Gen Z respondents said they considered cryptocurrency regulation an important factor when voting for political candidates. Bitget staff wrote:

"By the beginning of the next decade, demographic processes may lead to a dramatic shift towards increased acceptance of cryptocurrencies as a higher proportion of younger generations continue to exhibit strong demand for crypto, despite the slowdown in population growth."

Other studies also suggest that Gen Z and millennials tend to have the highest adoption rates for cryptocurrencies out of all population groups. In October 2022, a Charles Schwab survey revealed that almost 50% of Gen Z and millennials want crypto in retirement funds. The survey also found that 43% of Gen Z and 47% of millennials already invest in cryptocurrencies outside their 401(k) retirement accounts. Open / Comment

2023-04-30 18:54:58 ALTCOIN DOMINANCE GLOBAL UPDATE

As you can see, an Altcoin Dominance moves quite symmetrically and cyclically. There is an ascending channel that started forming back in 2016 and is still valid.

Currently, we are close to the down border of the channel. I told that altcoins moves "cyclically" because they are also play around the Bitcoin's Halving:

- Usually, they reaches the bottom 8-9 months before the halving and the top 11 - 12 months after the halving. At the moment we have 11 months left before the 2024 halving.

At the moment we just need to wait for the dominance to reach the bottom of the ascending channel. Once it will be done, we will need to look for a new narrative that brings us the biggest profits! We are close. Open / Comment