Crust Network, a decentralized storage protocol based on IPFS that delivers file storage and hosting, today announced that it is launching an External Adapter on the Chainlink Network, the foremost decentralized oracle solution. Through Chainlink, smart contract developers are easily able to access IPFS-based decentralized data storage for their applications and seamlessly pull that data…
Read more
submitted by /u/sasha_sh [link] [comments]
According to CertiK, investors should be highly skeptical of free NFT giveaways, as well as small peculiarities in sites they interact with.
As much as it's amazing to finally have some small relief rally and finally be a bit more over the crucial 28k area, this green weekly close does not mean that we are completly out of the bear run or even in the slightest way. But many seem to be celebrating it as a "change…
Read more
submitted by /u/pannagasamir [link] [comments]
Kalush Orchestra, the winners of the Eurovision Song Contest 2022, have successfully auctioned off an NFT for charity. The auction was held on MetaHistory — the official Ukrainian charitable NFT museum – and raised $900,000 in cryptocurrency for Ukraine. MetaHistory and Kalush Orchestra’s NFT Charity Auction The largest European crypto exchange originating from Ukraine, WhiteBIT […]
Ethereum is back on another winning streak as it breaks above $1,900. This follows a weekend that was mostly characterized by low momentum but would eventually turn for the better. In the wake of this, there have been a lot of short liquidations in the market due to the recovery. However, the liquidations in Ethereum hit a new three-year high when thousands of short positions were liquidated on the Bitfinex cryptocurrency exchange. Bitfinex Short Liquidations Grow The Bitfinex crypto exchange is one of the largest exchanges in the world and is highly favored by both amateur and professional traders. This is why liquidation volumes are oftentimes pronounced on the platform. However, Monday’s liquidations would pose a new record for the market given that Ethereum liquidations alone had surged past $600 million. Related Reading | Bitcoin Dominates Derivatives Market To End May On A High Note This pushed the digital asset into the largest daily liquidations in three years. In total, there were more than $690 million in Ethereum shorts liquidated across various exchanges. Shorts made up 99.5% of these liquidations that were recorded over a four-hour period. However, the majority had come from the Bitfinex crypto exchange. It came out to almost $670 million liquidated on the exchange as ETH had barreled past the $1,900 level. Other cryptocurrencies such as Bitcoin had taken a hit in the same timeframe but none close to the degree to which Ethereum traders had been liquidated. It shows that sentiment is turning towards the positive it comes to the long-term for the digital asset. Ethereum Standing Its Ground Ethereum has been on a recovery trend alongside Bitcoin. This has shot the digital asset above its 20-day moving average. Making its way above $1,900 remains an important point for ETH which has recently been struggling with the $1,700 level. It also marks the only green close in recent weeks for the digital asset as it had been closely trailing the price of Bitcoin. ETH price breaks above $1,900 | Source: ETHUSD on TradingView.com Liquidations in Ethereum have eased up, however. The four-hour period where the Bitfinex short liquidations had rocked the market had quickly passed, paving way for more reasonable liquidation volumes. Presently, liquidations across the crypto market sit at less than $130 million for the last 24 hours. Related Reading | Institutional Investors Turn To Competitors As Ethereum Tumbles Ethereum has since gone back to trailing behind Bitcoin when it comes to liquidations. The pioneer digital asset has seen traders lose $44.4 million in the past one day at the time of this writing while ETH traders have recorded $32 million in losses. A total of 48,219 traders have been liquidated and Bitfinex still maintains the largest single liquidation with a total of $2.06 million from a single trade. Featured image from CNBC, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Should we pour some Hennessy on the ground or follow the etherean playbook? deny make excuses for forget Also, the SD of NY called a conference for tomorrow (same day Bill is getting unveiled) between SEC and Ripple: https://twitter.com/digitalassetbuy/status/1533790737346793472?s=20&t=AJEFR0lSIcR4oAAzD_fBag Senator Lummis, would you like to comment on all this? https://preview.redd.it/j9wha6us61491.jpg?width=500&format=pjpg&auto=webp&s=899636c1af856898ed6fdac25de7e51ec97f3a3b submitted by …
Read more
Fractional ownership has become a hot topic in the decentralized world. Now that many industries have integrated blockchain technology, which are the latest industries jumping aboard the trend of fractionalization? How can it improve accessibility to the market of high-end collectibles? Read on to find out. Driven by fast-paced blockchain technology adoption, the concept of fractional ownership has had a recent increase in its usage and familiarity on the world scene. As a result, what was once an idea understood mainly by those operating in the stock market is now part of the vernacular of newcomers to the world of investments and crypto. The world has just begun getting used to the idea of ownership of digital assets via NFTs, but typically that ownership would pertain to only one buyer at a time. Last March, history was made when a Beeple NFT was sold for $69 million to collector MetaKoven. While attention was drawn to the price tag, it was also interesting that MetaKoven had bought several of Beeple’s works before the record-breaking piece, only to divide the ownership into blockchain-based tokens then and sell them to the public. It was a prime example of fractionalizing a digital asset, and we’re about to see a lot more of these types of investment opportunities on offer in the years to come. In addition to NFTs, the aviation space is also making waves by using fractional ownership to offer on-demand flight services to multiple investors of unique luxury aircraft. For example, VoltAero, a French hybrid-electric aircraft developer, has launched a fractional ownership program for its five-seat Cassio 330, eventually followed by two follow-on models with more seating space. Jean Botti, former Airbus chief technology officer, commented, “Cassio will open a new era of highly sustainable air transportation in Europe with on-demand flight services for those who join our fractional share ownership.” The critical aspect of NFTs is their ability to be used to establish authenticity and the transference of rights. Therefore, there’s a window of opportunity for entrepreneurs looking for new industries to innovate in through the capacity of NFTs and blockchain tech. For example, traditional and digital real estate in the Metaverse has been some of the main spaces allowing NFTs to fuel the incorporation of fractional ownership in the modern world. Right now, deeds serve the function of representing ownership of property in the real world. However, now that NFTs can also be used to represent ownership of real-life properties, there’s the potential for NFTs to bypass trusted intermediaries in property purchases, such as title insurance companies, escrow holders, and lawyers. In addition, since investing in real estate can require substantial funding, some entrepreneurs use NFTs and crypto to raise capital for their projects. For example, in 2018, the St. Regis Aspen Resort sold an 18.9% ownership stake in the hotel through token sales of “Aspen Coins.”, which could be bought with U.S. dollars, Bitcoin, or Ethereum. A new alternative asset exchange has recently entered the Web3 stage – Jupiter Exchange. By digitizing and fractionalizing iconic real-world assets on the blockchain, the platform allows passionate collectors to own a piece of objects previously reserved only for a select few. What’s more, Jupiter differentiates itself from other alternative asset exchanges by adding liquidity to the selected assets and creating a much larger pool of sellers and buyers. Jupiter Marketplace creates iconic products as single NFTs, which then are fractionalized into a number of ownership tokens of equal worth. Once the ownership tokens are sold, they can be traded on Jupiter Exchange with a real-time pricing model. Whether one is a passionate collector or a retail investor looking to diversify their portfolio, Jupiter Exchange is the platform to watch. Having recently raised $5 million in seed funding, Jupiter Exchange is set to launch very soon. Collecting comes with several challenges, and Jupiter Exchange aims to reduce the collectors’ pain points. Even high-profile individuals like NFT/Pokémon card collector Logan Paul ran into a scam after paying $3.5 million on what he thought was a “sealed & authenticated box of 1st Edition Pokémon cards”, only to find that was not the case. Interestingly, the box had been validated as authentic by the Baseball Card Exchange. Bolillo Lajan San, the well-known and respected card collector who sold him the box, also believed it was legitimate – clearly showing the need for NFTs in the world of both physical and digital collectibles.
Layer 2 chains have their own native tokens, right, but when rolling up transactions to layer one, the gas fees still need to be paid in Ether. If the end user is paying for gas in the native layer 2 token, where does that Ether come from? Initially I thought the layer 2s might have…
Read more
