🎰MetaMask founders compare crypto industry to casino
🗣Aaron Davis and Dan Finlay, co-founders of crypto wallet MetaMask, compared the current cryptocurrency ecosystem to a casino, adding that many projects in the industry are structured along Ponzi schemes. Davis reported that he was “100 percent not surprised” by the recent collapse of projects based on a similar investment scheme or P2E (“play to earn”) model. Finlay attributed the bankruptcy of several crypto brokers to the dishonesty of individual market players falsely positioning themselves as DeFi projects.
https://getblock.net/en/news/metamask-founders-compare-crypto-industry-to-casino
🗣Aaron Davis and Dan Finlay, co-founders of crypto wallet MetaMask, compared the current cryptocurrency ecosystem to a casino, adding that many projects in the industry are structured along Ponzi schemes. Davis reported that he was “100 percent not surprised” by the recent collapse of projects based on a similar investment scheme or P2E (“play to earn”) model. Finlay attributed the bankruptcy of several crypto brokers to the dishonesty of individual market players falsely positioning themselves as DeFi projects.
https://getblock.net/en/news/metamask-founders-compare-crypto-industry-to-casino
☝️CoinFLEX exchange resumes withdrawals in limited mode
❗️On July 15, cryptocurrency exchange CoinFLEX resumed the withdrawal function for customers in a limited mode. Users have 10% of the assets on their balances available to withdraw except for flexUSD stablecoins, which will be frozen until further notice. The remaining 90% will not be available for withdrawal, trading, or use as collateral. Herewith, the assets will be displayed on users’ accounts, the exchange’s representatives said in a blog post.
https://getblock.net/en/news/coinflex-exchange-resumes-withdrawals-in-limited-mode
❗️On July 15, cryptocurrency exchange CoinFLEX resumed the withdrawal function for customers in a limited mode. Users have 10% of the assets on their balances available to withdraw except for flexUSD stablecoins, which will be frozen until further notice. The remaining 90% will not be available for withdrawal, trading, or use as collateral. Herewith, the assets will be displayed on users’ accounts, the exchange’s representatives said in a blog post.
https://getblock.net/en/news/coinflex-exchange-resumes-withdrawals-in-limited-mode
📊Circle publishes detailed report on the USDC supply
📋️Circle has published a detailed report on the reserves backing the USDC stablecoin. As of June 30, the stablecoin had a capitalization of $55,57 billion and $55,7 billion in collateral. Of this amount, $13,58 billion in fiat is held at regulated banks: Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank, Signature Bank, Silicon Valley Bank, Silvergate Bank, and US Bancorp. Another 42,12 billion is placed in US Treasury short-term bonds, which have an average maturity of 44 days.
https://getblock.net/en/news/circle-publishes-detailed-report-on-the-usdc-supply
📋️Circle has published a detailed report on the reserves backing the USDC stablecoin. As of June 30, the stablecoin had a capitalization of $55,57 billion and $55,7 billion in collateral. Of this amount, $13,58 billion in fiat is held at regulated banks: Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank, Signature Bank, Silicon Valley Bank, Silvergate Bank, and US Bancorp. Another 42,12 billion is placed in US Treasury short-term bonds, which have an average maturity of 44 days.
https://getblock.net/en/news/circle-publishes-detailed-report-on-the-usdc-supply
♻️Ethereum’s transition to PoS scheduled for September 19-25
👥During an online conference, Ethereum developers have tentatively scheduled the blockchain’s transition from the Proof of Work (PoW) consensus algorithm to Proof of Stake (PoS) for September 19-25. The final date will depend on the results of the merger on the Goerli testnet, which is due to take place on August 11.
https://getblock.net/en/news/ethereums-transition-to-pos-scheduled-for-september-19-25
👥During an online conference, Ethereum developers have tentatively scheduled the blockchain’s transition from the Proof of Work (PoW) consensus algorithm to Proof of Stake (PoS) for September 19-25. The final date will depend on the results of the merger on the Goerli testnet, which is due to take place on August 11.
https://getblock.net/en/news/ethereums-transition-to-pos-scheduled-for-september-19-25
💰Bitfinex exchange to donate $1,3 million in cryptocurrency to El Salvador
🤝Cryptocurrency exchange Bitfinex will donate 36 bitcoins ($755 676 at the Binance rate as of July 25, 13:30 UTC) and 600 000 Tether (USDT) stablecoins to help small businesses and communities in El Salvador. The funds are primarily intended for businesses in the most socially disadvantaged areas of the country — Ilopango, Soyapango, and Apopa.
https://getblock.net/en/news/bitfinex-exchange-to-donate-13-million-in-cryptocurrency-to-el-salvador
🤝Cryptocurrency exchange Bitfinex will donate 36 bitcoins ($755 676 at the Binance rate as of July 25, 13:30 UTC) and 600 000 Tether (USDT) stablecoins to help small businesses and communities in El Salvador. The funds are primarily intended for businesses in the most socially disadvantaged areas of the country — Ilopango, Soyapango, and Apopa.
https://getblock.net/en/news/bitfinex-exchange-to-donate-13-million-in-cryptocurrency-to-el-salvador
👍Central African Republic to launch Sango bitcoin sidechain
🚀On July 25, the Central African Republic (CAR) plans to launch Sango, a bitcoin sidechain, The Block reports, citing a letter from the developers. The platform will have built-in bitcoin interoperability through a two-way peg mechanism. Users who deposit BTC into the Sango sidechain will be able to mine Sango Bitcoin (s-BTC), a wrapped version of bitcoin. To participate in the project, users will need to go through the know your customer (KYC) procedure.
https://getblock.net/en/news/central-african-republic-to-launch-sango-bitcoin-sidechain
🚀On July 25, the Central African Republic (CAR) plans to launch Sango, a bitcoin sidechain, The Block reports, citing a letter from the developers. The platform will have built-in bitcoin interoperability through a two-way peg mechanism. Users who deposit BTC into the Sango sidechain will be able to mine Sango Bitcoin (s-BTC), a wrapped version of bitcoin. To participate in the project, users will need to go through the know your customer (KYC) procedure.
https://getblock.net/en/news/central-african-republic-to-launch-sango-bitcoin-sidechain
⚡️DeFi market capitalization down by 74% in three months
📉The decentralized finance (DeFi) market capitalization fell by 74,6% during the second quarter of 2022, from $142 million to $36 million. One of the reasons was the May collapse of the Terra ecosystem and its UST stablecoin, according to a report by crypto market data aggregator CoinGecko. Another factor was the rise in hacks of DeFi platforms. Analysts believe that the hacking attacks have negatively affected the value of tokens as investors have lost faith in the projects affected by the hacks.
https://getblock.net/en/news/defi-market-capitalization-down-by-74-in-three-months
📉The decentralized finance (DeFi) market capitalization fell by 74,6% during the second quarter of 2022, from $142 million to $36 million. One of the reasons was the May collapse of the Terra ecosystem and its UST stablecoin, according to a report by crypto market data aggregator CoinGecko. Another factor was the rise in hacks of DeFi platforms. Analysts believe that the hacking attacks have negatively affected the value of tokens as investors have lost faith in the projects affected by the hacks.
https://getblock.net/en/news/defi-market-capitalization-down-by-74-in-three-months
💥 Cryptocurrency rate dynamics 19.07.2022💥
Most crypto-assets that are in the top 10 by market capitalization are in the "red zone" today:
⬇️ the largest drop over the day showed - Ripple: -1.7%.
🔴 BTC - $ 20,603.35 (-0.2%)
🟢 ETH - $ 1,208.83 (+0.5%)
🔴 BNB - $ 235.31 (-1.1%)
🔴 XRP - $ 0.335213 (-1.7%)
🔴 ADA - $ 0.436737 (-1.3%)
🔴 SOL - $ 36.81 (-0.7%)
🔴 DOGE - $ 0.062066 (-0.8%)
🔴 DOT - $ 6.67 (-0.8%)
🔴 SHIB - $ 0.00001064 (-0.1%)
🔴 TRX - $ 0.066440 (-1.4%)
Most crypto-assets that are in the top 10 by market capitalization are in the "red zone" today:
⬇️ the largest drop over the day showed - Ripple: -1.7%.
🔴 BTC - $ 20,603.35 (-0.2%)
🟢 ETH - $ 1,208.83 (+0.5%)
🔴 BNB - $ 235.31 (-1.1%)
🔴 XRP - $ 0.335213 (-1.7%)
🔴 ADA - $ 0.436737 (-1.3%)
🔴 SOL - $ 36.81 (-0.7%)
🔴 DOGE - $ 0.062066 (-0.8%)
🔴 DOT - $ 6.67 (-0.8%)
🔴 SHIB - $ 0.00001064 (-0.1%)
🔴 TRX - $ 0.066440 (-1.4%)
☝️BitMEX analysts predicted bitcoin recovery in early 2023
📊Representatives of crypto exchange BitMEX believe that the bitcoin rate will begin to recover in early 2023. The experts’ assumption is based on an analysis of changes in the market value to realized value (MVRV) ratio of the asset during previous bear cycles.
https://getblock.net/en/news/bitmex-analysts-predicted-bitcoin-recovery-in-early-2023
📊Representatives of crypto exchange BitMEX believe that the bitcoin rate will begin to recover in early 2023. The experts’ assumption is based on an analysis of changes in the market value to realized value (MVRV) ratio of the asset during previous bear cycles.
https://getblock.net/en/news/bitmex-analysts-predicted-bitcoin-recovery-in-early-2023
Bitcoin
On the daily timeframe, bitcoin is approaching the global downtrend, which has repeatedly worked out and caused the cryptocurrency’s rate to crash. If in case the wedge is realized, the support level of around $19 000 will not be able to restrain the fall, the asset will start to decline to the next key support, which is around $13 000.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-16072022
#BTC #Analytics
On the daily timeframe, bitcoin is approaching the global downtrend, which has repeatedly worked out and caused the cryptocurrency’s rate to crash. If in case the wedge is realized, the support level of around $19 000 will not be able to restrain the fall, the asset will start to decline to the next key support, which is around $13 000.
The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.
https://getblock.net/en/market-analysis/btc-review-dated-16072022
#BTC #Analytics
⬇️Coinbase has left the top 10 crypto exchanges in terms of trading volumes
📃Cryptocurrency exchange Coinbase has dropped out of the top 10 digital asset exchanges in terms of trading volume, moving up to 14th place. Since 2021, Coinbase was ranked 4th, Bloomberg reports, citing a report from Mizuho Securities USA.
https://getblock.net/en/news/coinbase-has-left-the-top-10-crypto-exchanges-in-terms-of-trading-volumes
📃Cryptocurrency exchange Coinbase has dropped out of the top 10 digital asset exchanges in terms of trading volume, moving up to 14th place. Since 2021, Coinbase was ranked 4th, Bloomberg reports, citing a report from Mizuho Securities USA.
https://getblock.net/en/news/coinbase-has-left-the-top-10-crypto-exchanges-in-terms-of-trading-volumes
🗣Arthur Hayes calls the condition for the bitcoin rate rise
💰Arthur Hayes, the co-founder and former head of the BitMEX exchange, believes that the US Federal Reserve System (Fed) will soon start printing money again if the dollar continues to strengthen against international currencies. In his view, this will have a positive impact on the bitcoin rate. Hayes urged to keep an eye on the Japanese yen and the euro. He expects a currency intervention to weaken the US dollar if it strengthens above 150 Japanese yen, or if the euro falls below $0,9.
https://getblock.net/en/news/arthur-hayes-calls-the-condition-for-the-bitcoin-rate-rise
💰Arthur Hayes, the co-founder and former head of the BitMEX exchange, believes that the US Federal Reserve System (Fed) will soon start printing money again if the dollar continues to strengthen against international currencies. In his view, this will have a positive impact on the bitcoin rate. Hayes urged to keep an eye on the Japanese yen and the euro. He expects a currency intervention to weaken the US dollar if it strengthens above 150 Japanese yen, or if the euro falls below $0,9.
https://getblock.net/en/news/arthur-hayes-calls-the-condition-for-the-bitcoin-rate-rise
✍️Russian President signs law on DFA regulation
🚫Russian President Vladimir Putin has signed a law on the regulation of digital financial assets (DFAs). The document imposes a ban on payments for goods, services, and works with DFAs, excluding certain cases stipulated by federal laws. The main provisions of the new law come into force upon its official publication.
https://getblock.net/en/news/russian-president-signs-law-on-dfa-regulation
🚫Russian President Vladimir Putin has signed a law on the regulation of digital financial assets (DFAs). The document imposes a ban on payments for goods, services, and works with DFAs, excluding certain cases stipulated by federal laws. The main provisions of the new law come into force upon its official publication.
https://getblock.net/en/news/russian-president-signs-law-on-dfa-regulation
👍1
📉Bitcoin miners’ prices slump to one-and-a-half-year low
⛏Bitcoin mining equipment’s prices have fallen to December 2020 levels. According to Luxor Mining’s Hashrate Index service, the price of flagship ASIC miners, whose power efficiency ranges between 38 J/TH and above, has dropped to $41 per 1 TH of power. Bitmain’s Antminer S19 and S19 Pro are on sale for $20-23 per TH, CoinDesk reports. MicroBTC’s Whatsminer M30 line models are being sold in roughly the same price range.
https://getblock.net/en/news/bitcoin-miners-prices-slump-to-one-and-a-half-year-low
⛏Bitcoin mining equipment’s prices have fallen to December 2020 levels. According to Luxor Mining’s Hashrate Index service, the price of flagship ASIC miners, whose power efficiency ranges between 38 J/TH and above, has dropped to $41 per 1 TH of power. Bitmain’s Antminer S19 and S19 Pro are on sale for $20-23 per TH, CoinDesk reports. MicroBTC’s Whatsminer M30 line models are being sold in roughly the same price range.
https://getblock.net/en/news/bitcoin-miners-prices-slump-to-one-and-a-half-year-low
⚠️Celsius accused of running Ponzi scheme for the second time
⚖️The Celsius lending platform has been accused of running a Ponzi scheme for the second time. According to a class action lawsuit filed by investor Taylor Goines in New Jersey, the company made about $10 billion by trading in unregistered securities and attracting new investors with the promise of paying higher interest rates. Earlier, KeyFi, a staking software and investment firm, filed a complaint with similar allegations against Celsius in a New York court.
https://getblock.net/en/news/celsius-accused-of-running-ponzi-scheme-for-the-second-time
⚖️The Celsius lending platform has been accused of running a Ponzi scheme for the second time. According to a class action lawsuit filed by investor Taylor Goines in New Jersey, the company made about $10 billion by trading in unregistered securities and attracting new investors with the promise of paying higher interest rates. Earlier, KeyFi, a staking software and investment firm, filed a complaint with similar allegations against Celsius in a New York court.
https://getblock.net/en/news/celsius-accused-of-running-ponzi-scheme-for-the-second-time
💰Unknown user transferred $1,34 billion worth of bitcoins with $16 fee
💻On July 15, an unknown user transferred 64 300 BTC ($1,34 billion at the time of the transaction), while a transaction fee was 0,00077850 BTC ($16,1). Of this amount, he sent 10 000 bitcoins ($206 million) to the Bitfinex cryptocurrency exchange. As of July 16, 09:55 UTC, the asset is trading at $20 617, down by 1,47% in 24 hours, according to Binance.
https://getblock.net/en/news/largest-btc-holder-increased-investments-in-cryptocurrency-to-275-billion
💻On July 15, an unknown user transferred 64 300 BTC ($1,34 billion at the time of the transaction), while a transaction fee was 0,00077850 BTC ($16,1). Of this amount, he sent 10 000 bitcoins ($206 million) to the Bitfinex cryptocurrency exchange. As of July 16, 09:55 UTC, the asset is trading at $20 617, down by 1,47% in 24 hours, according to Binance.
https://getblock.net/en/news/largest-btc-holder-increased-investments-in-cryptocurrency-to-275-billion
😱Hackers stole $150 000 worth of NFTs with artist DeeKay’s Twitter account
💰On July 15, hackers hacked into the Twitter account of South Korean artist and animator DeeKay Kwon, known by his nickname DeeKay. The attackers posted a phishing link on his behalf to an audience of around 180 000 followers under the pretext of an NFT airdrop from a new collection. However, a malicious smart contract had been activating on the website after the transaction was signed, opening up access to the wallet. The hackers thus managed to steal about 65 NFTs worth $150 000 in five hours before Kwon regained access to the account.
https://getblock.net/en/news/hackers-stole-150-000-worth-of-nfts-with-artist-deekays-twitter-account
💰On July 15, hackers hacked into the Twitter account of South Korean artist and animator DeeKay Kwon, known by his nickname DeeKay. The attackers posted a phishing link on his behalf to an audience of around 180 000 followers under the pretext of an NFT airdrop from a new collection. However, a malicious smart contract had been activating on the website after the transaction was signed, opening up access to the wallet. The hackers thus managed to steal about 65 NFTs worth $150 000 in five hours before Kwon regained access to the account.
https://getblock.net/en/news/hackers-stole-150-000-worth-of-nfts-with-artist-deekays-twitter-account
🔮Analyst Plan B predicts likely bitcoin’s value at the end of July
📢Anonymous analyst PlanB has called the likely price of bitcoin at the end of July. On his Twitter, he noted that in June, BTC closed below its 200-week moving average (MA) for the first time ever. Herewith, the asset immediately bounced up after reaching such a low level. PlanB added that he “would not surprise” if the first cryptocurrency’s rate exceeds the $22 000 mark at the end of this month. As of July 16, 10:30 UTC, the asset is trading at $20 647, down by 0,97% overnight, according to Binance.
https://getblock.net/en/news/analyst-plan-b-predicts-likely-bitcoins-value-at-the-end-of-july
📢Anonymous analyst PlanB has called the likely price of bitcoin at the end of July. On his Twitter, he noted that in June, BTC closed below its 200-week moving average (MA) for the first time ever. Herewith, the asset immediately bounced up after reaching such a low level. PlanB added that he “would not surprise” if the first cryptocurrency’s rate exceeds the $22 000 mark at the end of this month. As of July 16, 10:30 UTC, the asset is trading at $20 647, down by 0,97% overnight, according to Binance.
https://getblock.net/en/news/analyst-plan-b-predicts-likely-bitcoins-value-at-the-end-of-july
💡UN recommends developing countries impose registration of bitcoin addresses and exchanges
📃The United Nations Conference on Trade and Development (UNCTAD) has released a report noscriptd “All that glitters is not gold,” recommending that developing countries should ban bitcoin advertising. The document also said that all addresses and exchanges associated with the digital asset should undergo mandatory registration. The UN acknowledged that the first cryptocurrency has some advantages, but the disadvantages far outweigh them.
https://getblock.net/en/news/un-recommends-developing-countries-impose-registration-of-bitcoin-addresses-and-exchanges
📃The United Nations Conference on Trade and Development (UNCTAD) has released a report noscriptd “All that glitters is not gold,” recommending that developing countries should ban bitcoin advertising. The document also said that all addresses and exchanges associated with the digital asset should undergo mandatory registration. The UN acknowledged that the first cryptocurrency has some advantages, but the disadvantages far outweigh them.
https://getblock.net/en/news/un-recommends-developing-countries-impose-registration-of-bitcoin-addresses-and-exchanges
🎥Car manufacturer Kia releases commercial with NFTs
🚙Car manufacturer Kia has released a commercial featuring characters from the Dead Army Skeleton Club (DASK) NFT collection. The campaign, created by creative agency David&Goliath, is timed to coincide with the launch of the new Kia Soul model. US viewers will be able to receive non-fungible tokens by scanning a QR code from the ad. The project is implemented in collaboration with the Sweet marketplace and the NFTs received will be sent to the wallets of the platform’s users.
https://getblock.net/en/news/car-manufacturer-kia-releases-commercial-with-nfts
🚙Car manufacturer Kia has released a commercial featuring characters from the Dead Army Skeleton Club (DASK) NFT collection. The campaign, created by creative agency David&Goliath, is timed to coincide with the launch of the new Kia Soul model. US viewers will be able to receive non-fungible tokens by scanning a QR code from the ad. The project is implemented in collaboration with the Sweet marketplace and the NFTs received will be sent to the wallets of the platform’s users.
https://getblock.net/en/news/car-manufacturer-kia-releases-commercial-with-nfts
📊Survey: analysts predict ADA token to rise by 570% by 2026
📈Cryptocurrency analysts believe that the rate of the native token of the Cardano (ADA) blockchain will rise by 570% to $2,93 by the end of 2025. This data follows a survey of 53 experts by research firm Finder. They predict that the asset will be worth $0,63 by the end of this year and $6,53 by 2030. Thus, Paul Levy, a University of Brighton senior lecturer, believes that despite ADA’s recent volatility, it is “well placed.”
https://getblock.net/en/news/survey-analysts-predict-ada-token-to-rise-by-570-by-2026
📈Cryptocurrency analysts believe that the rate of the native token of the Cardano (ADA) blockchain will rise by 570% to $2,93 by the end of 2025. This data follows a survey of 53 experts by research firm Finder. They predict that the asset will be worth $0,63 by the end of this year and $6,53 by 2030. Thus, Paul Levy, a University of Brighton senior lecturer, believes that despite ADA’s recent volatility, it is “well placed.”
https://getblock.net/en/news/survey-analysts-predict-ada-token-to-rise-by-570-by-2026