Category: Cryptocurrency News

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Crypto had started to bull in 2020 at the height of the pandemic. Most thought that the financial markets would suffer greatly when most of the world went into lockdown, this would turn out to not be the case. Although the various markets had experienced price crashes at the beginning of the pandemic. Then, markets started to pick back up. Both stocks and the cryptocurrency markets had recovered even past their various points before the crash. Related Reading | Crypto Analyst Lays Out Cardano’s (ADA) Pathway To $4 The recovery was at various points attributed to governments providing relief for citizens who could not work in the form of stimulus checks. These were to enable individuals who could not afford it to be able to stay home and also have their basic needs met. Governments even went as far as announcing rent and mortgage freezes across the country. In a bid to keep everyone in a home. These checks were spent by most on food. Because in reality, the checks were meant for people whose incomes were not enough to see them through a lockdown. Others though who could afford it had either invested part or all of their stimulus checks. Some of these investments were in cryptocurrencies. Related Reading | American Rapper Tyga To Launch OnlyFans Crypto-Competitor Stimulus checks were basically regarded by some as “free money.” Money that they would do with as they pleased. While some lamented the negative effects of printing that much money in such a short time, others saw this as an opportunity. This “free money” going into the market most likely played a part in the tremendous bull run that would then follow. A bull run that saw new all-time highs across the market. But this leads to the question; if a person had invested their $1,200 stimulus checks issued by the U.S. government back in April of 2020, how much would that investor have across various assets? This report will answer that questions, putting the numbers into perspective. What A $1,200 Crypto Investment Would Net Investors To start out, we will look at bitcoin. If $1,200 was invested into bitcoin back in April 2020, in current August prices, that investment would be worth about $9,000. The price of BTC has risen over 600% since then. Related Reading | Puell Multiple: The Bitcoin Metric That Says BTC Miners Aren’t Ready To Sell Next would be Ethereum. Putting a $1,200 stimulus check in Ethereum back in 2020, at this point, the investor would have over $22,500. This is an even higher price than BTC given that the price of ETH has outperformed the price of BTC for the past year. Other altcoins besides Ethereum have also done very well in the past year. These include DOGE, ADA, SOL, and HEX. $1,200 put in DOGE would be worth over $200,000 now. A $1,200 investment ADA would be worth over $90,000. SOL would presently be worth over $120,000. And last but not least, a $1,200 investment in HEX would be worth over $300,000 in 2021. Crypto market has grown over 1,000% since April 2020 | Source: Crypto Total Market Cap from TradingView.com These numbers go to show the absolutely massive returns that the cryptocurrency market can bring. Although this is largely dependent on the investor’s ability to hold through every peak and trough until the assets get to this point. Featured image from Freekpik, chart from TradingView.com

ATOM price booked triple-digit gains after the network built out its DeFi ecosystem and works on cross-chain bridges for ETH and BTC.

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Cal Memorial Stadium has sold its naming rights to FTX during its second vital branding move. This venture was put forward after the purchase of the Miami Heat Arena’s naming rights in March. FTX is a Crypto derivative exchange that bought the Cal Memorial Stadium from California University. This move by FTX aims to introduce its brand to the stadium. This derivatives exchange owned by Sam Bankman-Fried is exploring further in sports. That is why; they have made a 10 year deal of $17M just for the university’s stadium naming rights. The stadium’s home team, the Cal Golden Bears, will now carry the new brand to create more crypto awareness. As stated by Bloomberg, from now onwards, anytime the home team will play their game this season, they will be wearing the latest FTX Field brand. Related Reading | Total Cryptocurrency Market Cap Value Surges Across $1.9 Trillion Setting A New Record Furthermore, the $17 million deal for the university’s naming rights is paid in cryptocurrency assets. This current deal is the latest inroad into sports sponsoring to create more awareness for crypto. FTX U.S. Partnered Miami Heat Basketball squad Last March, FTX.US, a North American sector of this same exchange, signed a naming rights contract with the Miami Heat Basketball squad. Due to this partnership, the stadium’s home team was rebranded to an FTX Arena. The organization also becomes the formal crypto exchange of MLB {Major League Baseball}. This is a segment of the sponsorship contract which is anticipated to remain for about 5 years. In fact, all the Major League Baseball umpire is expected to wear the firms’ mark on their respective uniforms. Countless FTX executives have time-honored ties as well with the Cal Golden Bears. For instance, Sina Nader, the COO (Chief Operating Officer), serves as a Golden Bears walk-on member during his undergraduate years. Last June, Tom Brady, the quarterback seven-time champion of the Super Bowl, and Gisele Bündchen, his wife, became Crypto derivative exchange’s partners to encourage crypto adoption. Because of this deal, Bündchen and Brady collected FTX equity stakes, each thus receiving crypto in exchange. Furthermore, according to the report from our source on the 20th of July, FTX breaks the funding record of crypto. They raised their funding to $900 million to take on an “exchange decacorn” position. This particular company is worth more than $10 billion. Related Reading | Microsoft To Fight Piracy With Ethereum, Introduces Project Argus This latest deal by FTX as the Major League Baseball official sponsor has prepared the way for a wider and acceptable awareness for digital assets. According to the tweet on Wednesday by Sam Bankman-Fried, this five-year contract may evolve to include alliances. Featured Image From Pixabay

If fees are no good, and volume is misleading, how do we judge cryptos objectively? submitted by /u/RDQ_Esq [link] [comments]

Just curious, my wife has no idea what is really going on through my head when it comes to crypto. She knows about Moons but thinks crypto is a big scam and doesn’t want to hear a thing about it. So I don’t/can’t talk with her about it. I have this online community of like-minded…
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Kraken and five other DeFi projects contribute $250,000 each to support the teams that work on the Ethereum upgrade. In addition, they donated the sum to the ETH Foundation to develop the network’s version 2.0. Open-source developer teams like Erigon, Besu, Nimbus, Geth, and Nethermind will join the ETH Foundation in the donation. 1/ A diverse execution-layer client ecosystem is at the heart of all that we’re building together. Today, we're excited to announce that @compoundgrants, @krakenfx, @LidoFinance, @synthetix_io, @graphprotocol & @Uniswap are donating $250K each to support #Ethereum client teams. — Ethereum (@ethereum) August 24, 2021 The Ethereum Foundation announced the source of the donations. They mentioned that the tips came from crypto exchange Kraken, Synthetix, the Graph, Compound Grants, and Uniswap Grants. Related Reading | Blockchain Startup In Pakistan Dubbed Bazaar Secures $30 Million In Funds The donations will add to the funds the Foundation provided earlier back the layer teams of ETH execution. The Funds Aim To Empower The Ethereum Team The Foundation of what we build together incudes the various client ecosystem of Ethereum. It consists of the consensus layer clients and the execution layer; both are vital aspects of future Ethereum mergers. The announcement also reads: “The donation sums up to $1.5 million and goes to open-source developer teams like Nimbus, Besu, Geth, Erigon, and Nethermind”. The developer team is to make provision for the network’s critical infrastructure to see the transition of ETH. The ETH is to transit to proof-of-stake mechanism from a proof of work. An August 24th post on the Ethereum web page reads: “In the heart of what we are developing together is a broad execution-layer client ecosystem. So today, we gladly announce that Kraken-fx, Uniswap, synthetix_io, graph-protocol, compound-grants, LidoFinance, and donates $250K each to support ETH 20 client teams.” ETH is trading in a sideways momentum on the daily chart | Source: ETHUSD on TradingView.com Jesse Powel, the co-founder and CEO of Kraken, says that the company is proud to give back to valiant builders who work hard on cutting-edge crypto innovation. Kraken proposed that the exchange users would have staked up to 800,000 ETH in Eth2 by July. This is worth about $2.5 billion with current prices. The network platform had given out 25,300ETH as rewards emerging from staking when it started initially. Related Reading | Kraken To Re-Enter The European Market By Applying For A New License This project portrays an effort to ensure the security of Ethereum’s consistent growth and decentralization. Each of the elements is exemplified by the diversity of clients, our belief in Ethereum’s continued success, and the strength of the teams. The announcement revealed. Etherscan Reports The ETH Improvement Proposal (EIP) 1559 upgrade was launched early this month. It introduces a burning mechanism as an aspect of its regulated gas fee structure. According to Etherscan data, about 4.85 ETH worth almost $15,300 are burned every minute as of writing. Over 70,000 Ethereum (ETH) has been burned or removed from the network’s circulation. Etherscan is a Block Explorer and Analytics Platform for Ethereum, a decentralized smart contracts platform. As of August 12, 31,792.48 ETH has been burned via Etherscan, amounting to $99,871,306.11. Featured image from Pixabay, chart from TradingView.com

Earlier today, I went to purchase a game on g2a and saw that they accepted bitcoin. Interested, I sent the specified amount to the given address and waited. After about 20 minutes, I wasn't sure if it had properly worked. I thought maybe the amount had changed slightly and I hadn't send enough. Eventually, it…
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