IceCoin

2022-09-01 15:56:49 Market condition

The market is down today, most of the alts are in the red. BTC is now trading around $20,000, ETH is trading above $1,550.

Bitcoin dominance: 40.18%;
Fear and Greed Index: 20 (extreme fear);
Altseason Index: 92;
Market capitalization: $956 billion.

Buterin will release a book on blockchain and the creation of Ethereum.

Also, BarrelDAO has opened sales of limited-edition NFT beer

Decentralized Autonomous Organization (DAO) BarrelDAO has launched a collection of non-exchangeable tokens (NFT) that can be exchanged for a limited edition Solana Summer Shandy beer.

Cans of the alcoholic beverage are decorated with images from various Solana-based NFT collections. These include DeGods, Degenerate Ape Academy, Okay Bears, Solana Monkey Business and more.

The DAO has released 333 NFTs with the ability to exchange each one for 16 cans of beer. One token will cost 1.35 SOL (about $41.2 at the time of writing). The price includes shipping to the U.S., U.K. and Australia. Open / Comment

2022-08-31 18:38:00 ​​ Georgia approves updated legal framework for crypto regulation

The Government of Georgia has approved the updated regulatory framework of the financial sector, which regulates the sphere of digital business and cryptocurrency trading. This was announced by the Minister of Economy and Sustainable Development of Georgia, Deputy Prime Minister Levan Davitashvili.

According to the official, a package of bills has already been sent to the parliament, the amendments to which will be adopted at the autumn session. The minister explained that they provide for approximation of national legislation to three important EU directives: Tax Services Directive, Capital Requirements Directive and Virtual Asset Service Providers Directive.

The latter provides for granting legal status to persons involved in digital asset trading and defining their duties and rights. This will prevent the use of cryptocurrencies for money laundering and terrorist financing.

As Davitashvili noted, the law on the Virtual Asset Service Providers Directive is one of the most important steps taken towards sustainable regulation of Georgia's crypto industry.

The minister also emphasized that the synchronization of Georgia's financial legislation with the EU directives is only the first step, as Georgia wants to become a cryptohub in the future, as stated in the government's 2020-2025 development strategy for Georgia.

As bm.gĕ points out, after the new laws are adopted, major players in the global cryptoindustry will be able to start operations in Georgia. Open / Comment

2022-08-30 16:01:00 ​​ The head of the game project Ragnarok apologized for losing 12% of the start-up capital

The head of the game project Ragnarok under the nickname 0xfanfaron published a letter in which he apologized for his lapses in the management of the startup. In April of this year, the project raised $15.5 million for development through the sale of NFT. The management exchanged the proceeds of ETH for U.S. dollars and found this business model to be very effective.

Subsequently, the head of the company bought ETH several times when it fell in price, expecting to get a large profit. But the crisis on the cryptocurrency market dragged on, and the studio apparently found itself in a difficult situation, as money for development rapidly dried up.

The company's CEO stressed that his venture cost the firm $1.8 million. He spent almost $2 million more on hiring third-party developers, and another $7 million on salaries and compensation for developers from the core team. However, in a letter 0xfanfaron promised to compensate the company for all financial losses.

Over the next four months, the head of Ragnarok will cut $200,000 from employee salaries, and will return about $600,000 that he earned from selling NFT. Also one of the team members promised to return his compensation of $250,000 back to the project budget.

In addition, the head of the game project has published a list of wallets, which he will use to compensate the losses to confirm the transparency of his intentions. According to 0xfanfaron, the company still has about $10 million.

"My investors and I had several conversations about my management of the project. They supported me and expressed full confidence and agreement for me to continue as CEO," 0xfanfaron added.

Earlier, Polygon co-CEO Urvit Goel said that traditional game publishers are interested in the GameFi space because games using NFT have a clear advantage. Open / Comment

2022-08-29 18:40:00 ​​ The expert named the reason for the fall in the capitalization of the crypto market

Simon Dedik, co-founder and managing partner of Moonrock Capital, a blockchain investment consulting company, spoke about the reasons behind the cryptocurrency market's decline in capitalization.

The expert noted: the total supply of all virtual assets has fallen below $1 trillion. He assured that experts will call the cause of the collapse of the industry - the words of Federal Reserve Chairman Jerome Powell on August 26, 2022, about how to deal with rising inflation. He is in solidarity with this opinion.

Dedick stressed that all the attention of the Federal Open Market Committee (FOMC) has been focused on bringing inflation down to the 2% target. According to the financier, the recent statements of the Fed representatives have prompted many traders to leave the market, not only traditional, but also cryptocurrency.

Investors fear for their funds amid general economic instability. This has caused a drop in interest, liquidity and the total supply of coins.

According to Dedik, it will take some time for price stability to return. It may take a sustained period of below-trend growth to bring inflation down.

While higher interest rates and softer labor market conditions will reduce the rate, they will also cause some inconvenience to households and small and medium-sized businesses.

Powell stated that the Fed would continue to tighten monetary policy and that is what spooked investors and traders.

Many analysts began to say that the value of bitcoin, and then other cryptocurrencies, will only start to rise in 2 years. The talk is that this will happen after another BTC halving. Open / Comment

2022-08-28 18:48:00 ​​ Web3-registrar of domains ETH.linĸ will lose access over the domain

Cryptocurrency project ETH.linĸ may lose its domain in September because its registrar was in jail

A decentralized autonomous organization (DAO) called ENS DAO may lose the domain for its website eth.linĸ due to the fact that its registrar Virgil Griffith ended up in prison. This was reported by domain name provider GoDaddy.

According to the press release, some parties are already interested in buying the domain, but it's not clear who exactly is in question. GoDaddy added that they will open the domain registration on September 5, when the insurance freeze on the domain expires.

According to Hori Whittaker, executive director of ENS, Griffith was the first member of the ENS DAO, so the rights to the eth.linĸ domain belonged only to him. The cryptocurrency community is now advised to use the domain eth.limö.

ENS DAO is an organization that operates the Ethereum Name Service protocol, a Web3 domain registry. The protocol itself is used to register name wallets in the .eth zone.

Recall that former Ethereum developer Virgil Griffith was sentenced by U.S. authorities to a long prison term in mid-April 2022. He is accused of helping North Korea circumvent sanctions.

Read also: What is Ethereum Name Service (ENS) in simple terms

The BeInCrypto editorial board previously told us that Griffith was arrested in 2019 after he visited North Korea to attend a cryptocurrency conference in Pyongyang. Authorities emphasize that Griffith made the trip despite the U.S. State Department's earlier refusal to grant him permission to visit the DPRK.

The prosecution said Griffith gave technical advice to more than a hundred people, including those associated with the North Korean government, advising them how to use cryptocurrencies to evade sanctions and money laundering. Open / Comment

2022-08-27 15:35:00 ​​ Crusoe Energy, which uses gas to mine BTC, sues competitor

Crusoe Energy, a company that uses associated gas to mine bitcoin, has filed suit against Alkane Midstream. The organization is asking the Denver Division of the Colorado federal court to order Alkane to stop infringing two patents.

The lawsuit alleges that Alkane took away Crusoe's work because the two gas and oil processing facilities reneged on agreements made with Crusoe in November 2021.

Alkane infringed on Crusoe's Colorado patents and interfered with the organization's current and future business relationships, the company's lawsuit says.

In addition, the document states that Alkane employees "committed, aided, abetted or participated in sensitive patent infringement."

Alkane CEO Ryan Blazzi called the lawsuit an unexpected disappointment. Blazzi said Alkane worked with Crusoe Energy before the filing, and there were no claims. The lawsuit cites two patents: U.S. Patent No. 10,862,307 (patent 307) and U.S. Patent No. 10,862,309 (patent 309).

In addition to the alleged patent infringement, Crusoe alleges that the president of Colorado Producers stated that the firm's services were no longer needed because the firm had contracted with Alkane. Therefore, monetary damages and termination of patent infringement are demanded. Open / Comment

2022-08-26 15:28:00 ​​ Xbox director speaks out about meta universes and Play-to-Earn games

In a conversation with Bloomberg, Phil Spencer talked about his attitude towards meta universes. He claims that gamers have been in meta universes for about 30 years.

Each game presents its own three-dimensional world where people can interact and have a gaming experience, whether it's World of Warcraft, Roblox, or regular racing.

"It doesn't surprise me at all that many gamers don't understand how meta universes are different from games. In regular games, everyone has an avatar too, they can walk around in a shared game space, turn on their voice and interact with other participants from wherever they are," Spencer said.

Microsoft CEO Satya Nadella said earlier this year that meta universes help unify the computer world and the real world.

Spencer confirmed that commercial use of the meta-universe has continued to generate interest from Microsoft in recent times.

The Xbox executive noted that he remains wary of Play-to-Earn (P2E) games because of speculation in the NFT market.

However, he acknowledged that monetization of games has been around for years, so P2E-based games could still find interesting uses.

Not all cryptocurrency enthusiasts share the same viewpoint. For example, American billionaire Mark Cuban said that buying real estate in meta universes is a very stupid idea. Open / Comment

2022-08-25 18:27:00 ​​ Bitcoin market five days can not decide on the vector

According to Material Indicators, over the past five days the volume of orders to buy and sell bitcoins on the major cryptocurrencies is kept in parity, which on the one hand does not allow the price of the asset to move clearly in one direction or another, on the other hand, this situation is not comfortable for large investors, who would prefer to clarify the vector of market conditions.

In the meantime, there was a slight shift to the green zone at the end of August 24 and beginning of August 25, which was connected with the growth of appetite for risky financial assets, which was shown by the dynamics of Wall Street.

As expected by Michael van de Poppe, a trader on the Amsterdam stock exchange, after the Nasdaq Composite went up (+0.41% at the end of August 24), bitcoin price also entered the green zone, trading in the beginning of August 25 at 21.7 thousand dollars, thereby overcoming the value of 21.5 thousand dollars.

However, a strengthening of the DXY dollar index, which recovered from a slump earlier in the week amid data on a decline in U.S. manufacturing activity, could put pressure on the bitcoin dollar price. DXY reached 108.9, its highest level since 2002.

It is worth noting that Wall Street is once again seeing a new influx of investment in bitcoin mining stocks.

The rise in the rate of such securities overnight in New York surpassed the rise of the Nasdaq Composite: HIVE Blockchain (+10.75%), Marathon Digital (+6.03%) and Bitfarms (+5.07%). Open / Comment

2022-08-24 16:29:00 ​​ Hashribbon indicator indicates the growth of bitcoin

The Hashribbon indicator, which is used in the mining market, says Bitcoin (BTC) is growing for the foreseeable future.

Bitcoin may rise in the near future. This is indicated by the cryptocurrency crossing the Hashribbon indicator.

Hashribbon is an indicator that is used in the mining market. It also acts as a leading indicator in the cryptocurrency spot market.

In June 2022, the first bitcoin crossed Hahribbon, which started the cryptocurrency's deep decline. Now, however, BTC is crossing the indicator in the opposite direction. This means that in the near term, the BTC exchange rate may be headed upward.

Hashribbon reflects the hash rate - the processing power - of the Bitcoin network. When the hash rate heads up, the Hashribbon moves up as well.

Two lines are used to build the indicator - the short-term (30-day) and long-term (60-day) moving averages. When the long-term moving average crosses the short-term one from top to bottom, it is considered as a positive signal for bitcoin price.

The idea behind the indicator is that miners are the most stable category in the crypto-asset market. They are little exposed to short-term fluctuations in the market. Therefore, a sharp change in the hash rate serves as an important signal for the rise or fall of the digital asset. Open / Comment

2022-08-23 18:16:00 ​​ CHZ, EOS, BCH, LDO, ATOM and CRV became more expensive by 10% or more

Market analysts noted that six cryptocurrencies became more than 10% more expensive in the last 24 hours. They were Chiliz (CHZ), EOS (EOS), Bitcoin Cash (BCH), Lido DAO (LDO), Cosmos (ATOM) and Curve DAO Token (CRV).

The leader of the day in terms of profitability was CHZ. This cryptocurrency added 14.01% in price over the past day. It was trading at $0.218, with a capitalization of $1.31 billion. The volume of daily transactions amounted to $711.73 million.

The second line was issued for EOS. This virtual asset gained 13.65% in value, reaching a price target of $1.72. The total supply of coins on the market was $1.72 billion, with trading volumes of $1.57 billion in 24 hours.

The third line was recorded for BCH. The digital coin added 11.49% in value and traded at $131.38. The cryptocurrency's market capitalization was $2.52 billion, with $377.4 million worth of transactions made in a 24-hour period.

Next in the yield ranking was Lido DAO. The native token of the decentralized service rose by 11.04%, with a capitalization of $675.56 million. It was sold at an average price of $2.16.

The cryptocurrency asset ATOM was available for purchase at $11.41, up 10.69% from 24 hours ago. The total supply of virtual tokens on the market was $3.27 billion

Finally, Curve DAO Token was available for purchase at $1.11, up 10.27% from the previous day. Cryptocurrency CRV reached the market capitalization level of $583.79 million. Open / Comment