Author: dfmines

Read the docs – I know this sounds tired, but yes, read the docs. If you sign up for an exchange, read the user-agreement, fee-schedule, terms-of-use. Yes.. really read it. You will find all the stuff out like "WTF, they can freeze my account". Calculate costs at the confirmation screen – Whether you are using…
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Bondly has announced a new functionality on the Cardano blockchain that is aimed at creators. Energy consumption has been a major problem on the Ethereum network, especially given the increased usage of the blockchain over the past couple of months. Developers behind the project have been working towards moving the network to proof of stake but that is still another year away. In the meantime, Ethereum blockchain still uses a proof of work mechanism which requires a large amount of energy for transactions to be confirmed on the network. Thus, Bondly has introduced a new solution for NFT creators who may be looking for more sustainable and eco-friendly options for their creations. But at the same time, do not want to lose the NFTs they have already minted on the Ethereum blockchain. Related Reading | Bridging Two Worlds In its announcement, Bondly says its official Ethereum to Cardano bridge will enable creators to choose a more eco-friendly blockchain for their NFTs. Creators are able to move their NFT creations from the Ethereum blockchain to the Cardano blockchain using this bridge. In terms of energy-efficiently, the Cardano blockchain is four million times more efficient than Bitcoin. Ethereum is said to use the energy equivalent of Columbia, while Cardano’s energy usage comes out to be equivalent to that of a family home. Thereby providing a greener and eco-friendly network for creators who are worried about the environmental impact of blockchain use. Related Reading | Cardano Loses 3rd Spot On Crypto Top 10, Why It May Drop Even More Bondly announced that through this partnership with IOG, it will be able to provide NFT creators a way to simply transfer NFTs minted on the Ethereum blockchain over to Cardano without the risk of losing a transaction or paying high fees for transfers. Cheaper On Cardano In addition to having their work on an eco-friendly blockchain, creators do not have to worry about the high fees that the Ethereum network has come to be known for. With the majority of NFT minting happening on Ethereum, the network fees have shot through the roof, leaving smaller creators who cannot afford these high fees out to dry. This is, however, not the case with Cardano. ADA price struggles at $2.13 | Source: ADAUSD on TradingView.com The network boasts of low fees for any transaction carried out on the blockchain. Additionally, the network also offers NFT creators price predictability and stable transaction costs, which will eliminate increasingly high fees and the fear of lost transactions due to not having enough gas fees to cover a transaction. The bridge is set to launch in 2022 and in celebration of its launch, Bondly will release a special series of eco-friendly NFT on the network. Harry Liu, CEO of Bondly, said; “The creation of a cross-chain NFT bridge between Ethereum and Cardano marks a pivotal moment in the transition from legacy blockchain technology to one of the most hotly anticipated ‘third generation’ networks. As one of the pioneers of the NFT movement, we continue to play a key role in building the infrastructure that will herald the next phase of NFT evolution.” Related Reading | Cardano Set To Enter The Babbage Era After Alonzo HFC Milestone Liu is not the only one excited about the bridge. Founder of Cardano, Charles Hoskinson, expressed support for the project. “We built Cardano with energy efficiency in mind, which is why this partnership with Bondly is so crucial,” said Hoskinson. “We believe that blockchain will only achieve mass adoption when end users have a seamless experience, regardless of which blockchain they are using, which is what bridges like this will achieve.” The founder has always believed that interoperability will be the future of the blockchain industry and this stance is reiterated with the new partnership with Bondly. Featured image from Bitcoinist, chart from TradingView.com

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Player wins a mighty big jackpot in the flashy new sequel Aloha King Elvis! on our crypto casino! A massive 1000x on the exciting Hawaiian-themed slot game The charismatic Elvis Frog has been taking a trip to Hawaii lately in BGaming’s popular new slot game on Bitcoin.com’s very own crypto casino. The titular character King […]

One of South Korea’s largest pension funds, the Korea Teachers Credit Fund (KTCU), is planning to invest in various Bitcoin (BTC) exchange-traded funds (ETFs). The public pension fund was set up to provide retirement benefits for the country’s education personnel. According to a report from the Korea Economic Daily, the KTCU says that while it…
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Bitcoin trends to the upside in the daily chart after experiencing some downside action during the weekend. As of press time, the benchmark crypto trades at $63,136 with a 3.8% profit in the 24-hour chart. The rally has been driven by an increase in institutional demand as the first Bitcoin-linked Exchange Traded Funds (ETFs) in the U.S. have been rollout. Both products experienced a record in trading volume with ProShares’ product surpassing the launch of the Gold ETF by reaching $1 billion in less than 3 days. $BITO just about at $1b in total volume today (curr $993m but trades still trickling in). Easily the biggest Day One of any ETF in terms of 'natural' volume. It also traded more than 99.5% of all ETFs (incl some bigs like $DIA, $ARKK, $SLV). It def defied our expectations.. pic.twitter.com/rWIPSAJboT — Eric Balchunas (@EricBalchunas) October 19, 2021 This propelled the Chicago Mercantile Exchange (CME) Open Interest to the stratosphere setting a new all-time high of $5.44 billion for futures contracts, a report by Glassnode indicated. The CME OI has risen by over 265% in October 2021 alone, as seen in the chart below. Related Reading | TA: Bitcoin Price Faces Hurdle, Why 100 SMA Is The Key The derivates market has been heating up across the board with the funding rates going positive as Bitcoin moves higher. This has triggered a FOMO effect which led to a correction as over-leverage traders were shaken out in the past days. Bitcoin seems to be making quick recoveries and holding on to $60,000 as critical support, but as Glassnode noted an over-heated futures sector put the entire market at risk of further downside price action. (…) funding rates remain at similar levels as observed just prior to the early September flush out. With futures open interest remaining near all-time highs, a risk of further downside to clear even more leverage does remain in play. Bitcoin Investors Expect More Gains In support of the current optimistic general sentiment in the crypto market, Glassnode noted a reduction in activity by long-term holders. These investors were taking profits for the past 2 weeks following a period of accumulation. Related Reading | Is China Considering Lifting The Bitcoin Mining Ban? The NDRC Runs Public Survey As the research firm explained, Bitcoin long-term holders (LTH) exhibited a typical behavior as BTC’s price entered price discovery. As the chart below shows, there seems to be an inverse correlation between the total BTC supply held by LTHs and the price of this cryptocurrency. Whenever there is a reduction in LTHs spending, the price of Bitcoin tends to the upside in a massive rally as seen in late January and early February 2021. Related Reading | On-Chain Data Shows Surge In Stablecoins Supply Pouring Into Bitcoin When combining the behavior of LTHs, already resuming their BTC accumulation, with that of Short-term holders (STH), Glassnode concluded that the overall sentiment is for Bitcoin to reach new highs: (…) STHs have stopped spending during this correction. With LTH supply already starting to recover, the most likely interpretation is that the vast majority of coin holders are still expecting and waiting for higher prices.

Here’s how options traders would play the “very high volatility” that Binance founder Changpeng Zhao suggested will impact the crypto market over “the next few months”.

This sub and every other crypto sub is a dangerous echo-chamber aimed at one thing, blasting you with enough information to keep you crawling back. Every post in a bull-market that is even slightly bearish gets downvoted to hell. Which leaves the remainder of posts bullish, and popular opinions. That is unsafe and dangerous. Having…
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“We are witnessing a significant shift in investor sentiment towards digital assets, and we believe that digital assets should be considered in modern portfolios,” said Greg Collett, president of the joint venture.