CoinJar, an Australian headquartered cryptocurrency exchange, announced today that its office in the United Kingdom, CoinJar UK Limited, has been officially registered by the Financial Conduct Authority (FCA) as a Cryptoasset Exchange Provider and Custodian Wallet Provider. In January 2020, new regulatory powers were introduced to allow the FCA to supervise how UK crypto-asset businesses…
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According to Polygon’s co-founder, Sandeep Nailwal, it is only a matter of time before Ethereum overtakes Bitcoin as the dominant layer-1 protocol.
Bitcoin investing is arguably one of the most talked-about investment in the finance industry at present. The returns on the digital asset have seen people allocating more of their investment budgets to bitcoin. But for people who may not have as much fiat as they would like to invest in the asset, borrowing has been a way to get more money to invest. Related Reading | Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown Individuals are also not alone when it comes to borrowing to invest in bitcoin. Institutional investors have also historically borrowed to invest in BTC. A notable example of this is MicroStrategy, the leading institutional BTC investor, which borrowed $600 million back in February in order to buy more bitcoin. This has been a growing trend in the crypto market to borrow to invest. But JPMorgan CEO says borrowing to invest in bitcoin is foolish. Don’t Borrow Money To Buy Bitcoin In an interview conducted by the Times Of India, JPMorgan CEO Jamie Dimon talked about bitcoin. On its popularity, Simon said he believed that people were wasting “too much time and breath” on the digital asset, after stating that he does not care about the cryptocurrency. He revealed that he personally does not invest in the digital asset. Further stating, “I think if you borrow money to buy bitcoin, you’re a fool.” BTC price trading above $42K | Source: BTCUSD on TradingView.com The CEO also believes that the government will eventually regulate the cryptocurrency since they “regulate just about everything. Crypto regulation has recently been a hot topic for the SEC recently. And Dimon believes that though he’s not exactly sure how or under what umbrella cryptocurrencies will be regulated, the government will regulate it. This regulation, the CEO believes, will constrain the asset. Asset May 10X In The Next Five Years Since its inception, bitcoin has recorded tremendous success. The asset has grown over 400,000% since it was first launched a little over a decade ago. Its past growth lends credence to the future price predictions placed on bitcoin. And although not a big believer in the digital asset, the CEO believes that the digital asset has the potential to grow 10 times in the next five years. Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum However, the CEO notes that there is no telling where the asset might end up in the next couple of years. He cited other investments that were once hot on the market and how they are now worth nothing years later, such as internet stocks and the popular beanie babies. Dimon also noted that speculation is bound to happen in every market and it is what drives financial markets. “So, I don’t know why there is a surprise with a lot of speculation, particularly when there’s as much liquidity in the system,” the CEO said. Featured image from Seeking Alpha, chart from TradingView.com
Americans are not only worried about future inflation, but they are also dealing with dwindling purchasing power in real-time. Meanwhile, on Thursday, Federal Reserve chairman Jerome Powell plans to address the Senate Banking Committee and discuss inflation. In the remarks pre-published from Powell’s speech, the Fed chair noted that the recent inflation spike may last […]
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“We believe NFTs embody the promise of tokenization and represent a tipping point for its embrace by the mainstream,” said Ripple.
In a recent report, nonfungible.com noted that over $2 billion was spent on NFTs during the first three months of 2021, marking a 2,100% increase over the fourth quarter of 2020. Per DappRadar, NFTs generated more than $1.2 billion in sales in July 2021 alone, more than half of the cumulative sales volume between January and June of 2021. The milestones mentioned above are just the tip of the iceberg as the NFT ecosystem continues to expand, setting new records with every passing day. Between 2020 and 2021, NFTs have established themselves as one of the most prominent sectors within the decentralized finance (DeFi) economy, enabling thousands of creators globally to start a parallel (and recurring) source of income. However, getting started with NFTs isn’t everyone’s cup of tea. Besides blockchain’s steep learning curve, the complications of creating multiple wallets, purchasing the required tokens to pay gas costs, and identifying the right marketplace for affordable NFT listings all make it difficult for artists to mint their own NFTs.AF The process of minting NFTs may vary broadly, primarily due to the availability of several blockchain platforms that support NFTs and the rise of hundreds of new marketplaces. Moreover, most platforms bump up against limitations or face challenges when dealing with a surge in NFT demand. For instance, at present, the vast majority of NFTs and NFT marketplaces are built on the Ethereum network. Due to the influx of artists and collectors, the Ethereum network has come under unprecedented pressure, resulting in network congestion, low throughput, and rising gas fees. A Fully-Featured Platform For NFTs While several alternative blockchain solutions like Binance Smart Chain, Polkadot, and more have started supporting NFT solutions, not all offer native support. In fact, most underlying blockchains are totally oblivious to the available NFT assets minted or traded on their platform, as related activities like registering wallets, purchasing tokens, and trading is made possible using smart contracts constructed by third-party developers. Relying on smart contracts built by third-party developers may lead to several problems, including security risks, higher costs, and increased centralization. This is where Ardor emerges as an impressive solution for developers and individual artists, conveying several features designed specifically to support NFT tokens and assets. Conceived by the team behind Jelurida and Nxt, Ardor is a multi-chain proof-of-stake (PoS) blockchain platform with a unique parent-child chain architecture alongside extremely powerful customization features. Ignis, the child chain of Ardor, delivers out-of-the-box features and supports advanced privacy mechanisms like coin shuffling and encrypted messaging for secure sharing between third parties. Unlike existing blockchains that support NFTs via smart contracts, Ardor and Ignis support a built-in transaction type to deliver rich functionality while offering the flexibility required to facilitate a wide range of use cases for NFTs. With Ardor, features such as NFT registration, trading, and transfers are supported natively by the core platform’s decentralized asset exchange. The cloud data feature handles NFT storage, and other activities like account registration, ownership validation, transfer, and other related aspects are overseen by Ignis. Additionally, all of these actions can be orchestrated within full-fledged dApps using Ardor’s energy-efficient PoS-based smart contract mechanism and a built-in hierarchical deterministic (HD) wallet, ensuring lower transaction fees and enhanced user experience. Several notable projects like NFT Magic, DeFiMAGIC, Cycle4value, TreeCoin, Triffic GeoMorfs, Sigbro, Mythical Beings, among others, are already harnessing the power of Ardor. Together with the parent-child architecture, myriad functionalities, and support for real-world use cases, Ardor has emerged as a capable platform for native NFT support, complete with high-grade security, lower fees, and a better user experience.
As this sub likes fascinating SafeMoon stories, here's one I discovered a short while ago: Yesterday a Whale tried to cause a SafeMoon selloff by dumping 2 Trillion tokens as follows 1.91 Trillion @ $1,962,546 (https://bscscan.com/tx/0x48bb55db67207f23c01c5d88906c6503e973dc0588f7c8cd9732789cb237bb2c) But after noticing his cunning plan had failed, he rebought 30 minutes ago – and received a…
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