IceCoin

2023-06-22 14:04:00 Metaverse to help tackle global warming: Study

A recent study suggests that the metaverse, a virtual 3D environment where the physical and digital worlds merge, has the potential to contribute to the reduction of global surface temperatures by up to 0.02 degrees Celsius by the end of the century.

Published in the journal Energy & Environmental Science, the study highlights the metaverse's ability to lower greenhouse gas emissions, decrease atmospheric carbon dioxide concentration.

The study emphasizes the potential benefits of metaverse-based remote working, distance learning, and virtual tourism in improving air quality.

By reducing transportation and commercial energy usage, the metaverse can also contribute to transforming energy distribution, with a greater energy supply directed towards the residential sector. Open / Comment

2023-06-21 17:46:42 Opening a SHORT position on AVAX

There is a descending triangle that must be broken downwards. Not entering on breakdown since we expect a fast impulse.

The point of invalidation is the descending resistance. If the price goes above — we will close the trade. The RR is quite good. Open / Comment

2023-06-20 17:59:41 BUSD falls to fourth position among stablecoins

After a dip of over $1 billion in the past 30 days, BUSD now sits fourth in market capitalization among stablecoins.

The United States dollar-pegged Binance USD stablecoin now sits at fourth position in market capitalization among other stablecoins, following a dip of over $1 billion in the past 30 days.

At the time of writing, the BUSD market cap stands at $4.3 billion, down 29% from $5.54 billion on May 18. The stablecoin has been in a downward trend since December 2022, when its market cap topped $23 billion.

The decline in BUSD’s market cap parallels major developments surrounding Binance following FTX’s dramatic collapse in November 2022. In December 2022, a report indicating the U.S. Department of Justice would target Binance led to net withdrawals of $3.6 billion in seven days. The exchange saw massive BUSD redemptions from market makers, including more than $245 million from Jump Finance.

A partnership between Binance and Paxos Trust created the BUSD stablecoin in September 2019. Open / Comment

2023-06-19 16:29:35 Crypto Market Regulatory Uncertainty Overshadows Blockchain Development: Bank of America

The rally in risk assets continues, but digital assets have underperformed the Nasdaq stock index by 24% since the beginning of May after gaining 52% from the start of the year, Bank of America (BAC) said in a Friday research report.

“Digital asset sentiment remains poor as the U.S. Securities and Exchange Commission’s (SEC) enforcement actions create regulatory uncertainty, pressuring token prices,” analysts Alkesh Shah and Andrew Moss wrote, adding that “digital asset trading platforms are just one piece of the broader ecosystem.”

The regulator said earlier this month that it was suing Binance, its founder Changpeng “CZ” Zhao and the operating company for BinanceUS on allegations of violating federal securities laws. A day later it sued rival exchange Coinbase on similar charges.

Bank of America says an excessive focus on regulatory headwinds, spot bitcoin exchange-traded-fund (ETF) approval in the U.S. and illicit activity is “overshadowing the rapid development and integration of distributed ledger and blockchain technology infrastructure.”

“Specifically private permissioned distributed ledgers and blockchain subnets,” that enable the tokenization of traditional financial assets, the report added.

The bank says it expects blockchain infrastructure and tokenization to “transform financial and non-financing infrastructure and markets over the next five to 10 years. Open / Comment

2023-06-18 17:48:06 SEC and Binance US strike a temporary agreement on asset access

Proposed measures include restricting Binance officials’ access to private keys and disclosing business expenses.

Binance, Binance US, and the United States Securities and Exchange Commission (SEC) reportedly agreed on Friday, June 16, to temporarily limit access to customer funds exclusively to BinanceUS employees.

According to reports, the proposed agreement, pending approval from the overseeing federal judge, outlines measures for Binance US to prevent any access by Binance officials to private keys of wallets, hardware wallets, or root access to Binance US’s Amazon Web Services tools. Additionally, the U.S.-based crypto trading platform will disclose comprehensive information on business expenses, including estimated costs, in the upcoming weeks.

The agreement has emerged as a direct response to a motion filed by the SEC seeking to freeze the entirety of Binance US’s assets during ongoing legal proceedings. The regulatory body expressed apprehension that without a granted temporary restraining order, there might be a risk of funds being transferred offshore or crucial records being deliberately destroyed.

However, Binance US’s legal representatives strongly opposed the notion, contending that imposing a complete freeze on all assets would essentially be equivalent to administering an excessively severe “death penalty” upon the company. Open / Comment

2023-06-17 17:23:37 MATIC

I saw a bunch of SHORT setups on MATIC in the crypto space recently. And we also opened a SHORT position on this coin a month ago that was closed in a good profit.

But let's take a look at the bigger picture. There is a MASSIVE ascending trend line that exists from the March 2021 and didn't let the price to dump below.

In my opinion, it is time to accumulate because the RR is extremely good. Long-term advise. Open / Comment

2023-06-16 17:57:05 Cardano (ADA) Among Celsius' Sell-off List: What to Expect?

Celsius, a notable player in the cryptocurrency lending and borrowing sector, has recently publicized its decision to liquidate its customers' altcoin holdings. The divestment will commence on July 1, sparing only Custody and Withhold accounts. This development is particularly significant given that Cardano (ADA), Polygon (MATIC) and Solana (SOL) constitute the largest portion of the platform's altcoin reserves.

Cardano has been hailed as a transformative force within the blockchain realm. However, the announcement arrives on the back of a disappointing price performance by ADA and SOL, both having experienced an approximately 30% devaluation in recent days.

Celsius will be selling all altcoins from all customers (except Custody and Withhold accounts) starting July 1st and will be converting them into Bitcoin and Ethereum.

— Celsians (CelsiansNetwork) June 15, 2023
The decision has provoked a wave of discontent within the cryptocurrency community, with critics accusing Celsius of potential market manipulation and a failure to uphold its fiduciary duties. The primary concern is that other market participants might capitalize on this publicized sell-off by "front-running" — selling these coins before Celsius can execute its planned liquidations, thus triggering a further decline in prices.

The potential ramifications of Celsius' divestment are substantial. Large-scale liquidations can exert significant downward pressure on the prices of the targeted altcoins. This development could, in turn, trigger a cascade effect, compelling altcoin holders across various platforms to sell their assets in anticipation of further depreciation.

Conversely, for investors with a bullish long-term outlook on these altcoins, the sell-off might present a compelling buying opportunity. As prices decrease, the potential for future returns grows proportionally for investors with the fortitude to buy these assets at a discount. Open / Comment

2023-06-15 14:10:12 Polygon, Flipkart, Hang Revolutionize Loyalty Programs with FireDrops 2.0

Polygon Labs, Flipkart, and Hang are collaborating to develop an innovative brand-first loyalty program, FireDrops 2.0, to introduce millions to Web3.

FireDrops 2.0 will transform brand loyalty programs by utilizing NFT technology for rewards, improving the user experience, and enabling easy ownership and redemption of rewards.

FireDrops aims to provide immersive experiences to users, combining Flipkart’s extensive reach with Polygon protocols’ scalability and Hang’s expertise in delivering next-generation loyalty solutions.
In an unprecedented partnership, Polygon Labs, Flipkart, and Hang are joining forces to redefine loyalty programs through a brand-first approach. FireDrops 2.0, the product of this collaboration, is set to bring the power of Web3 and NFT technology to millions of users.

FireDrops 2.0, powered by Hang’s loyalty platform, aims to revolutionize user-brand engagement. The program uses NFT technology for rewards, incentivizing brand loyalty through gamification and community involvement. This innovative approach is anticipated to enhance the user experience significantly. Open / Comment

2023-06-14 13:33:16 SPX UPDATE

Despite the fact that recently the correlation between the stock and crypto markets has decreased in value, I do believe that strong movements will bring their impact!

As you can see, the S&P500 Index is moving positively and now facing the 4325 resistance.

Breakout of this level will lead to the positive movements on the crypto market. Open / Comment

2023-06-12 15:43:25 FTX Exchange Objects to Prolonged Mediation Talks with Bankrupt Genesis – Here's the Latest

FTX and its affiliates have objected to extending court-mediated settlement talks for bankrupt crypto lender Genesis.

In a recent court filing, FTX said it had not been invited to a court-appointed mediation in May that involved Genesis, its parent company Digital Currency Group, and creditor Gemini Trust Co, despite being a major Genesis creditor.

The bankrupt crypto exchange also objected to a motion filed by Genesis Global that sought to estimate the FTX debtors’ claims at $0.00, claiming that it was the largest creditor in Genesis’ Chapter 11 proceedings with claims worth a whopping $3.9 billion. Open / Comment