Prior to the launch of the Proshares Bitcoin Strategy ETF (BITO), open interest in bitcoin futures products has been surging since the start of the month, according to data from the Coinbase Institutional arm Skew Analytics. Binance and FTX command the lion’s share of bitcoin futures’ open interest with 40.67% of the market. Moreover, data […]
“This is Chainalysis’ first acquisition of cryptocurrency, and we will continue to pursue other digital assets as potential future investments,” said CEO Michael Gronager.
Here are just three examples of the sub’s most mentioned coins back in the previous bull run. 1 – Waltonchain: ATH $41.15. Today $0.99. Rank: 782nd “Waltonchain partners with China Telecom (China's largest telecom)” “Lmao at all these guys still questioning Waltonchain's legitimacy.” “Waltonchain (WTC) Wins the 2018 Outstanding Blockchain Company Award at the 1st…
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ADA price has been struggling against the U.S. dollar in October.
Binance has successfully carried out another quarterly scheduled burn. This marks the 17th routine burn that the cryptocurrency exchange has carried out since it had launched its native token back in 2017. Binance has not missed a single scheduled burn since that time and will continue to carry out these burns every quarter. Binance burns 20% of its quarterly earnings, which suggests how much the crypto exchange has brought in that quarter. The latest burn suggests that the company may have made over $4 billion in the 3rd quarter of 2021. Burning Millions Worth Of BNB The cryptocurrency exchange announced in a blog post on Monday that it had burned 1,335,888 BNB in its 17th burn. This came out to approximately $640 million worth of coins burned, according to the price of BNB at the time of the burn. In addition to this, Binance had also burned 17,839 BNB in its Pioneer Burn Program. This program was created to help its users who had lost their assets in uncommon circumstances. Related Reading | Why We Could See The First Approved U.S. Bitcoin ETF In October In its burn history, the crypto exchange has burned millions of BNB tokens. The record for the highest number of BNB tokens burned at a single time was the 12th burn. This saw 3,477,388 BNB burned. While the lowest number of tokens burned was during the 8th burn, where only 808,888 BNB tokens were burned. In total, Binance had burned over 31 million BNB tokens over the history of its scheduled burns. And the crypto exchange will keep burning BNB tokens quarterly until 50% of the total supply is taken out of circulation. Binance Sticking To The Original Plan Binance has maintained its promise to burn a percentage of BNB until the total circulating supply is halved. This would mean that the crypto exchange would have to burn approximately 100 million BNB to achieve this aim. So far, with about 31.6 million tokens already burned, the crypto giant is not even halfway through to its goal. Related Reading | Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals The Binance team holds about 40% of the total BNB supply, which goes towards the scheduled quarterly burns. The crypto exchange said that the team would not sell any tokens out of this stash and has maintained that they have never sold a single BNB out of it. BNB trading below $490 | Source: BNBUSD on TradingView.com After the burn was carried out, the price of BNB saw an uptick in the price. BNB trended towards $500 in the early hours of Tuesday, peaking at $497. It has since trended back down but has only lost about $10 off the value of its price in the downtrend. The price of the asset sits at $488 at the time of this writing and is up 4.34% in the last 24 hours. Its current market cap is $81 billion and BNB has reclaimed its position as the 3rd largest cryptocurrency by market cap. Featured image from CoinFunda, chart from TradingView.com
Blockchain technology is coming to Formula 1™ as Pierre Gasly partners with Fantom to bring NFTs to the world’s fastest sport Non Fungible Tokens (NFT) have taken the world by storm in 2021. The previously maligned sector of the cryptocurrency market which was known for clogging the Ethereum network with CryptoKitty’s has emerged as the fastest-growing subset of the crypto market with billions of dollars in transactions happening monthly. Slow transaction speeds coupled with unpredictable and high transaction fees have rendered the Ethereum network all but inaccessible to the average user and highlighted the strengths of newer smart contract platforms. Among these next-generation protocols, Fantom stands out for its 1-second transaction times and consistent, low to no cost transactions. Fantom’s capabilities have not gone unnoticed by the wider crypto community, and popular NFT projects like Pumpkittens have embraced the user-friendly network with much success. The ecosystem has also caught the eye and garnered the respect of well-known influencers and sports personalities including Grand Prix-winning Formula 1™ driver Pierre Gasly, who recently announced a partnership with Fantom to offer fans the chance to purchase NFTs tied to physical assets that commemorate the highlights of Gasly’s career. As the world’s fastest-moving sport, Formula 1™ has entertained and thrilled fans for decades but is usually enjoyed on television screens that don’t offer the same excitement that going to a race in person and meeting popular drivers firsthand offers dedicated followers. Now, thanks to blockchain technology and the power of smart contracts, fans have a new way to show their love for Formula 1™ and hold a piece of rare history while also entering for a chance to meet their favorite driver in person. This groundbreaking partnership makes Gasly the first Formula 1™ driver to release NFTs for fans. The sale is set to go live on Wednesday, October 20th with the auction of three unique, 1-of-1 NFTs that represent each time Pierre stepped onto an F1 podium. Each of these NFTs will be redeemable for both unique physical objects and real-life experiences, including the chance for a VIP experience with Pierre during race weekend. There will also be an additional fourth NFT that is composed of 350 separate tokenized pieces available for purchase beginning at 2 pm UTC on Friday, October 22 that also link with special edition merchandise. Fans who are interested in these limited edition items can access them on the Artion NFT marketplace, where users can use wFTM to make bids on all four pieces while the Fantom-based tokens ZOO and TOMB can also be used to purchase individual pieces of the fourth NFT. All auctions will close at 2 pm UTC on Saturday 23rd October 2021. With 80 Formula 1™ Grand Prix races under his belt, the 25-year-old from Rouen, France is uniquely positioned to help introduce the world of NFTs and blockchain technologies to Formula 1™ fans. According to Gasly, who is a well-known crypto and NFT enthusiast, “We’ve been planning this NFT drop together with Fantom for quite some time now, but as often with innovative projects, our initial excitement hides the level of complexity behind it.” With the finished product now on the starting line and ready for its public debut, both Formula 1™ fans and the Fantom network are about to kick fan interaction and engagement into high gear.
An $80,000 price target for Bitcoin implies 28% more upside from current levels — a move that would be highly favorable for altcoins as well.
Tendermint, an open network infrastructure provider with a focus on the Cosmos blockchain ecosystem, and the Interchain Foundation (ICF) today announced a partnership with Forte, an organization building a blockchain platform for video games. As core contributors to the Cosmos Network, Tendermint’s partnership with Forte creates accessibility to blockchain gaming for all developers and gamers…
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