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2021-06-02 09:18:35 ​​Dogecoin jumps after receiving support from crypto exchange Coinbase pro.

The world's 6th most valuable cryptocurrency, Dogecoin, jumped nearly 15% on Tuesday after Coinbase Pro announced support for meme-based cryptocurrency.

The meme-based cryptocurrency Dogecoin jumped nearly 15% on Tuesday after Coinbase Pro announced support for DOGE. The US-based crypto exchange giant announced yesterday that the inbound transfers of Dogecoin are now available in the company’s supported jurisdictions. According to an official announcement, the trading of Dogecoin will start on 3 June 2021 at 9 am Pacific Time, subject to liquidity conditions. The cryptocurrency that was created as a joke now has a market capitalization of over $48 billion.
Dogecoin’s price rises after Coinbase announcement.
Dogecoin witnessed a 15% spike in its price following Coinabse’s announcement. The meme-based cryptocurrency is currently changing hands at $0.369 with a market cap of more than $48 billion. “Once a sufficient supply of DOGE is established on the platform, trading on our DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP, and DOGE-USDT order books will launch in three phases, post-only, limit-only and full trading,” Coinbase mentioned in the announcement. DOGE saw significant growth this year in terms of price and adoption. Several well-known organizations worldwide, including NBA Team Dallas Mavericks and Latvia’s airBaltic started accepting Dogecoin as a mode for payments.

Dogecoin is now more valuable than XRP.
Despite gaining so much exposure, DOGE remained extremely volatile this year as the world’s 6th largest cryptocurrency price touched a high of $0.72 and a low of $0.26 within two weeks of May 2021. Commenting about the latest volatility in Dogecoin, Brian Brooks, former Acting Comptroller of the Currency at the US OCC and current CEO of Binance US, said: “What we don’t want is a panic over Dogecoin prices to kill bitcoin or eth or some of the fundamental innovations that are going on here.” The cryptocurrency that started as a joke is now more valuable than XRP, Polkadot, Chainlink, and Bitcoin Cash. Open / Comment

2021-05-30 09:12:59 ​​Billionaire Stan Druckenmiller on Dogecoin, Ethereum: Won't Long or Short DOGE, Skeptical of ETH

Renowned investor Stanley Druckenmiller has shared his views on dogecoin and ethereum. He said he wouldn’t long or short dogecoin and laughs when the meme cryptocurrency rises in value. As for ether, he is skeptical whether it can hold its position.

Stan Druckenmiller on Dogecoin and Ether
In an interview with The Hustle last week, famed investor Stanley Druckenmiller shared his thoughts on bitcoin, ether, and dogecoin, the meme cryptocurrency that has recently taken the market by storm.

Druckenmiller founded Duquesne Capital in 1981. He managed money for George Soros as the lead portfolio manager for the Quantum Fund until 2000. He and Soros made massive profits betting against the British pound in 1992.

The billionaire investor said that dogecoin “is just like NFTs non-fungible tokens. It’s a manifestation of the craziest monetary policy in history.” He added: “I think since there’s no limit on supply, I don’t really see the utility of it right now. It’s just this wave of money in the Greater Fool Theory.” Druckenmiller opined:

Now having said that, I wouldn’t short it because I don’t like putting campfires out with my face. So I just try and pretend DOGE doesn’t exist. I think so little of it, it doesn’t even bother me when it goes up.

He continued: “When bitcoin used to go up, I’d go crazy because I didn’t own it. When dogecoin goes up, I just start laughing. Don’t go long and don’t go short. I mean, you know, unless you like going to Vegas, then I guess it’s okay.”

On the subject of bitcoin vs. ethereum, Druckenmiller said, “I think bitcoin has won the store of value game” because it is “a brand, it’s been around for 13-14 years, and it has a finite supply.” On whether other cryptocurrencies will replace bitcoin, he reiterated that BTC is “going to be very, very tough to unseat.”

While acknowledging that “the lead in smart contracts and that kind of stuff would be ethereum,” he noted:

I’m a little more skeptical of whether it can hold its position. It reminds me a little of Myspace before Facebook. Or maybe a better analogy is Yahoo before Google came along.

He described, “Google wasn’t that much faster than Yahoo, but it didn’t need to be. All it needed to be was a little bit faster and the rest is history.”

What do you think about Stan Druckenmiller’s views on dogecoin and ether? Let us know in the comments section below. Open / Comment

2021-05-26 20:08:49 ​​Nebraska Can Now Issue State Charters for Crypto Banks

A bill allowing for state-level crypto banks in Nebraska has been signed into law.

LB649, or the Nebraska Financial Innovation Act, was introduced in January by the newly-elected state senator Mike Flood. According to a press release, the legislation was drafted by a Japan-based crypto company called Telcoin, which promised to relocate to Nebraska if the bill became law.

"I am excited to welcome Telcoin to Norfolk, Nebraska,” said Flood in a statement.


Flood also introduced a second crypto-oriented bill in January, LB648, which deals with smaller-scale changes to regulations for crypto companies, and has yet to gain traction.

Wyoming passed similar legislation last year, paving the way for Kraken to become the first official state-level crypto bank in the US.

The Office of the Comptroller of the Currency is the agency that handles banking charters on the federal level. Under former Comptroller Brian Brooks (once an executive at Coinbase, and now the head of rival exchange Binance.US), the office granted charters to crypto custodians like Anchorage, Paxos, and Protego.
 
Now under new leadership, the OCC is rethinking whether it should be handing out these digital asset charters so freely. Acting Comptroller Michael Hsu has ordered a review of Brooks’ actions regarding crypto banks, and suggesting that they don’t “appear to have been part of a broader strategy related to the regulatory perimeter.”

A recent letter from Sen. Sherrod Brown (D-OH), who chairs the Senate Banking Committee expressed similar concerns. "A firm that cannot meet the rigorous requirements applicable to other banks should not be allowed to present itself to the public as a bank," wrote Brown. "Paxos, Protego and Anchorage seek to broaden access to cryptocurrencies and other risky and unproven digital assets and emerging technologies to traditional bank customers." Open / Comment

2021-05-23 14:15:46 ​​Musk Backs Crypto Over Fiat as Market Decline Continues

Tesla CEO Elon Musk Elon Musk has endorsed cryptocurrencies over fiat currencies despite the continued market sell-off

The billionaire has come under heavy criticism recently. Musk had previously stated that Tesla would no longer be accepting BTC as a form of payment. The change in stance was attributed to environmental concerns when mining bitcoin.

China crackdown hurting bitcoin
Following the announcement by Tesla, bitcoin began to see a sell-off in price. The price of bitcoin has continued to decline following China’s recent moves to crack down on BTC mining within the country. Citing similar concerns related to carbon emissions, as well as protecting the country’s financial system.

The country has also announced it will be prohibiting financial institutions from participating in crypto services.

While bitcoin and the entire crypto market has seen one of its worst weeks this year, twitter users reached out to Musk for comment regarding his opinions on how he felt regarding crypto users being angry at him due to his removal of bitcoin payments.

Musk still backs crypto
Musk commented on the question, saying “The true battle is between fiat & crypto. On balance, I support the latter.”

Musk has also previously stated that has not sold any of his DogeCoin (DOGE) holdings, saying “I haven’t & won’t sell any Doge.” Open / Comment

2021-05-22 07:03:42 ​​South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country

Regardless of the political turmoil that arose in South Korea due to the crypto-related regulations, a leading politician had come forward to reveal that he had made investments in virtual currencies publicly. Won Hee-ryong, the Governor of Jeju Island, unveiled that he invested in four different cryptocurrencies.

Wong Plans to Keep Updating People via Youtube About His Crypto Holdings Status
According to Chosun, the politician, who is the leader of a semiautonomous province in the country, admitted that he bought a total of 1 million won ($885) worth in bitcoin (BTC), ethereum (ETH), somesing (SSX), and the Kakao-issued klay (KLAY) token. Won justified his purchases by saying that he thought, “I had to do it.”

With such an announcement, Jeju Island governor becomes the first politician that publicly discloses its crypto holdings in South Korea. Interestingly, Won commented:

Although more than 5 million people are already trading virtual assets, various damages are occurring one after another due to inadequate related laws and policies. I will try to do it myself, communicate with the public and find alternatives about what the problem is and how to develop the field of virtual assets.

He praised the fact that virtual currency trading can be made on holidays. In fact, Wong revealed that he bought his cryptos on Buddha’s Birthday.

Moreover, one of his plans regarding digital assets is to provide updates on his holdings through a Youtube channel and open the door to discuss “blockchain and the 4th industry with experts.”

Special Legal Status in the Island Allows ICO Projects to Launch
The governor has been well-known in the country for its crypto endorsement, driving him to launch projects within the semiautonomous province.

In 2018, months after he was elected, Won wanted to work on an initial coin offering (ICO) project to lead to the Jeju Coin token’s launch.

Although ICOs are banned in South Korea, the island has a special legal status, allowing the governor to bypass such legal barriers. As of press time, there are no further developments on the matter. Open / Comment

2021-05-11 00:11:21 ​​African crypto exchange registers $3.2B in transactions ahead of global expansion

After a successful run in Nigeria, Quidax announces global expansion plans and the launch of its native token, QDX.

NEWS
After nearly three years in operation, Nigerian cryptocurrency exchange Quidax has reported more than $3.2 billion in transactions, underscoring the rapid adoption of digital assets in Africa’s largest economy.
Since launching in August 2018, Quidax has amassed over 400,000 customers across 72 countries, the company disclosed Monday. The figures were published alongside an announcement that the exchange plans to further expand its crypto trading operations beyond Africa.

In addition to its expansion plans, Quidax announced the launch of QDX, its native token, on the Binance Smart Chain. The BEP20 token “will power all the functions within the Quidax ecosystem from trading fees on the exchange, to staking, governance, and all financial products,” the company said.

CEO Buchi Okoro said Quidax is “set to become the global home of BEP20 tokens,” adding:

“This means that anyone in the world can trade over 100 cryptocurrencies in the Binance Smart Chain ecosystem on Quidax.”

Cryptocurrency adoption has taken off in Africa thanks to the growing utility of Bitcoin (BTC) and other digital assets. Nigerians are embracing cryptocurrencies to combat double-digit inflation and to skirt capital controls in the country. Between 2015 and 2020, Nigerians traded 60,500 BTC on Paxful, a peer-to-peer trading platform.

Nevertheless, digital asset regulation remains a legal grey area in the country after the Central Bank of Nigeria banned financial services companies from dealing with crypto exchanges. Deputy governor Adamu Lamtek later clarified that the regulator didn’t ban citizens from trading or holding digital assets. Open / Comment

2021-05-07 11:45:48 ​​Ethereum And The Undeniable Signs Of A Bull Market

In the middle of an outstanding bull market for the whole crypto space, Ethereum stands out in a big way. And it’s easy to see why. On one hand, we have the rise of DeFi and the NFT craze. On the technical side, we have the EIP-1559 update coming in July. And on the corporate side, Visa settling transactions in USDC, the EIB’s €100M digital bond, and the release of CME Ethereum Futures.

Besides that, ETH’s price kept going up while BTC stumbled. That is unprecedented. It was a crypto rule that Altcoins followed Bitcoin wherever it went. Bitcoinist reported the phenomenon as it happened:

Mira Christanto, a researcher at Messari, registered a negative correlation between Bitcoin and Ethereum in the daily chart. With a -4% and a +7%, respectively, Christanto highlighted that this is an unusual event and could be “indicating a start of a new phase”.

Action in the Ethereum ecosystem
Bitcoinist also reported that de two biggest players in de DeFi space recently surpassed the $1B in Total Value Locked. And Ethereum is supposed to surpass the $1B in TVL by itself in the near future. Even though that’s a drop of water to the sea that is the global financial system, it’s important to remember that the whole DeFi space has only existed for a couple of years. 

On the other hand, when the EIP-1559 update is in place, the Ethereum Virtual Machine will burn a portion of each transaction’s fees. That will make ETH a disinflationary asset. Miners are already rallying against the update, which they feel will rob them of a piece of their earnings. The real question, though, is how will that affect the price? Only time will tell.

Institutional Acceptance 
One of the crypto space’s big stories from the last few months is how global finance embraced Bitcoin. Nevertheless, making less noise, Ethereum also gained ground in institutional acceptance. The credit card giant Visa will not only accept USDC for settling transactions, the company will also run its own Ethereum nodes. 
Just last week, the European Investment Bank announced the creation of a two-year Ethereum digital bond. In a timely manner, Bitcoinist reported:
Citing undisclosed sources familiar with the matter, notes will be registered on the Ethereum blockchain using smart contracts, and the sale itself will be managed by banking giants like Goldman Sachs, Banco Santander SA, and Societe Generale. The tokenized bonds could then theoretically be issued to buyers via an Ethereum wallet. 

That’s a huge sign of acceptance by respected global financial institutions. Back in February, we received another sign. The Chicago Mercantile Exchange or CME released ETH futures in their platform geared towards financial institutions and big players. Some analysts think that this is the moment that Ethereum’s unprecedented bull-run started. 
The product keeps gaining ground against the CME Bitcoin futures, as Bitcoinist reported:
During the first seven days of trading, ETH futures volume on CME was only $23 million. Recent data shows one-week volumes are now totaling $353 million – a new all-time high record that keeps getting broken again and again.
Figures provided by CryptoCompare, reveal that CME ETH futures represented 1.36% of their BTC equivalent to start, but since spiked as high as 9.36%.
In conclusion, we’re in the middle of “a MAJOR bull market,” as Peter Brandt said. And it’s Ethereum’s time to shine. Open / Comment

2021-05-03 20:22:48 ​​Ebay exploring crypto payment options and NFT auctions

According to CEO Jamie Iannone, eBay will be "exploring opportunities" to enable nonfungible tokens.

Major online marketplace eBay will be pursuing crypto payment options for its customers along with exploring ways to introduce nonfungible tokens on the platform.
In an interview with CNBC today, eBay CEO Jamie Iannone said the company will "continue to look" at payment options like crypto. In addition, he said eBay will be "exploring opportunities" to enable nonfungible tokens, or NFTs, on the platform "in an easy way," comparing the digital offerings to collectibles.
“One of the great things about eBay is when there’s a new trend, it just shows up on eBay,” said Iannone. “That’s what we’re seeing in areas like NFT, which we’re looking at how can we explore that better.”
The CEO said parts of NFTs were "already transacting" on the platform now but eBay had not yet simplified the process for buyers and sellers. Some users are also able to list Bitcoin (BTC) for sale on the platform seemingly without eBay specifically sanctioning such auctions. 
Executives at the online marketplace have previously hinted that eBay could be open to accepting crypto payments. Three years ago, a senior vice president at the firm said eBay was "seriously considering" integrating BTC into its platform as a payment method.
The platform also partnered with PayPal to facilitate payments prior to the payments provider announcing it would allow crypto trading last year. The firm is slowly transitioning from using PayPal to e-commerce firm Adyen. As of the first quarter of 2021, eBay has roughly 187 million active buyers. Open / Comment

2021-05-03 08:37:50 ​​Ether Hits $3,000 as Vitalik Buterin Officially Becomes Billionaire. Is $10,500 Possible?

Leading altcoin Ether surpassed $3,000 for the first time at 1:38 p.m. UTC on the Bitstamp exchange. 

Ethereum co-founder Vitalik Buterin now holds over $1 billion worth of ETH in his main address, which he disclosed back in October 2018. The 27-year-old visionary also owns some other tokens.             
Buterin has some other undisclosed addresses on top of this main one, but he claimed that they were "quite small."            
Nevertheless, his official wallet already makes him the second-youngest self-made billionaire (behind only Luminar Technologies CEO Austin Russell).

Russell replaced makeup mogul Kylie Jenner after she was removed by Forbes last year because of her family’s riches.

Fundstrat says Ether could hit $10,500

Ether is up a whopping 316 percent in 2021, significantly outperforming Bitcoin.

In spite of its stellar gains, Fundstrat believes that it has much more room to run. Tom Lee’s market research firm continues to stand by its prediction that Ether could hit $10,500, according to its recent research note. Open / Comment

2021-04-25 09:50:26 ​​Lending giant Aave set to launch liquidity mining program

Can governance token distribution help Aave overtake Compound?

NEWS
With a liquidity mining program set to launch on Monday, Aave could be on the cusp of becoming the dominant decentralized finance (DeFi) ledning protocol. 
Earlier today, Aave Improvement Proposal (AIP) 16 reached quorum, meaning that starting on Monday, 4/26 liquidity providers and borrowers in Aave’s USDC, DAI, USDT, GUSD, ETH, and WBTC pools will earn stAAVE rewards in addition to their standard interest yield.
Per AIP 16, providers and borrowers in these pools will split 2,200 stAAVE tokens per day from the protocol’s current 2.9 million AAVE Ecosystem Reserve, currently worth nearly $1 billion.
The proposal, written by Aave investor Parafi Capital’s Anjan Vinod, notes that the goal of the program is to “drive lending and borrowing activity across markets,” as well as increase the decentralization of the protocol’s governance by distributing governance tokens to more users.
The move is something of a novelty for Aave. The lending platform has consistently been ranked among the largest DeFi protocols, despite not having a liquidity mining program like many of its competitors. Per their respective apps, Compound is currently the top lending protocol with over $15.4 billion in total value locked (TVL) across their markets, while Aave counts $6.8 billion across their Polygon, Ethereum v1, Ethereum v2, and AMM LP token markets.
Aave co-founder Stani Kulechov told Cointelegraph that he expects that the added incentives will bolster the protocol’s TVL significantly.
“The proposal allocates most of the rewards on stablecoins meaning that we will see substantial increase in TVL,” he said.
As the governance proposal notes, the lack of a liquidity mining program has historically put Aave at something of a competitive disadvantage. For instance, at the time of writing money market Compound offers 3.31% yield on stablecoin USDC, along with 2% in COMP governance tokens for a total of 5.51% yield. Aave’s market, meanwhile, also currently offers an identical 5.51% in pure interest yield.
A recent Tweet from Aave developer Emilio Frangella indicates that the new program will bolster yields by orders of magnitude, and notably offers yield to borrowers — yield which, at current rates, would well outstrip the APR borrowers owe on their loans.

While the current program is slated to end 07/15/2021, the door is open to some form of liquidity mining continuing for the protocol for the foreseeable future. Per Vinod, “this program is being proposed as a beta to further investigate how the inclusion of liquidity mining rewards will benefit the Aave ecosystem,” and at the 2,200/day rate of distribution, the program would deplete only 5% of the Ecosystem Reserve tokens per year. 
When first proposed in governance forums, liquidity mining only received 60% support from the community. Kulechov believes that the turnaround is due in part to the community seeing other liquidity mining programs successfully play out.
“Aave community has for and against views on the topic previously, against mainly because Aave Protocol has been successful in organic growth. However, since now liquidity mining network effects are proven to work, it gives an opportunity to experiment it in Aave and that might been grounds for the swing.” Open / Comment