GENERAL BYTES, a bitcoin and crypto ATM manufacturer, has announced this week the launch of its newest model, the BATMTwoUltra. This latest machine is loaded with the newest features while offering operators the same qualities they are familiar with from the BATMTwo series. Benefits The BATMTwoUltra comes with the additional option to configure the ATM…
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Bitcoin records a 7% drop in the last week as yesterday’s Federal Open Market Committee (FOMC) hints at a more aggressive U.S. Federal Reserve. As investors reacted to a tougher monetary policy, selling pressure rejected BTC’s price from the mid area around its current levels. Related Reading | The Bitcoin Resistance Level That Just Won’t Budge At the time of writing, Bitcoin trades at $43,400 with a 3% loss in 24-hours and with potential to re-test more areas of support. Investment firm Cumberland believes the FOMC minutes were directly responsible for the BTC’s bearish price action. Part of a “broader risk-off move”, the announcement affected several sectors across the macro markets. Bitcoin’s recent weeks relief rally was triggered by the FED as well. Investors were expecting an increase in interest rates at around 25 bps. The financial institution announced this increase back in March meeting expectations. This provided more clarity to market participants. However, the FED turned more aggressive on its approach as a result of a persistent inflation. In that sense, the financial institution has forced market participants to adjust their views potentially shaking speculators from their positions. Cumberland said: At this point, one has to wonder whether the Brainard/FOMC commentary which triggered this move represents new & meaningful information that should be factored into the market in the form of lower prices, or if instead this selloff is really just a classic case of weak hands rushing for the exits in a crowded trade. The investment firm believes the second option is more likely. Therefore, they claimed the current downside price action could offer long-term traders with a buy the dip opportunity. At these levels, as Bitcoin moves in a tight range between $48,000 and $37,000, without new macro-factors to oppose a rally, the market could offer a high reward/low risk scenario. The investment firm added: (…) If we approach those lows in the absence of a fresh geopolitical catastrophe, risk/reward associated with adding more length seems attractive. The Macro Outlook And Its Potential Impact On Bitcoin A Senior Economist at Natixis, a global financial services company, claimed the FED has accelerated its monetary tightening. This could lead the institution to sell part of their balance sheet and keep the price of risk-on assets down. 3 shocks hitting Asia economies:a) Tightening of financial conditions, led by the Fed hike of both the price of the USD, leading to not just direct credit shocks but also relative & risk aversion or deleveragingb) China zero Covid (demand)c) Supply shocks — Trinh (@Trinhnomics) April 7, 2022 The U.S. FED announcement combined with a slowdown in China’s economy, the analyst claimed. The Asian giant has begun to tighten its monetary policy which indicates market participants could become more risk adverse and to an overall deleveraging. However, this situation could become unsustainable in the short term and could force China to lose its monetary policy. The region currently faces economic weakness, the analyst said. Related Reading | TA: Bitcoin Prints Bearish Pattern, Why BTC Could Drop To $42K This could allow for risk-on asset like Bitcoin to reclaim previous highs. The analyst added: Let me put this another way, with external financial conditions tightening, led by the Fed tightening aggressively in May & more, the question is whether Asian economies can follow & if they can’t follow due to economic weakness, then there’s policy divergence & asset implications.
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More and more celebrities are joining in on buying and creating NFTs. But where can you actually buy a celebrity NFT? And what does it achieve? During your morning social media scroll, you may have noticed, among all the selfies and vacation photos, the messages from celebrities endorsing NFTs. NFTs are assets on the blockchain that are unique thanks to their identifying information recorded in smart contracts. Creators may tokenize anything from music and photographs to videos or illustrations using NFTs. Most of the discord surrounding NFTs goes down on Twitter since the platform supports NFTs being used as profile pictures in hexagonal frames instead of the typical circle frames everyone else has to use. As the hype grows, celebrities like Paris Hilton, Justin Bieber, and Gwyneth Paltrow have joined the bandwagon. If you have the rare privilege of owning a Bored Ape Yacht Club NFT, you know you get exclusive access to communities and digital rooms where your favorite celebrity hangs out and talks to fans. But it’s not just about buying the latest ape from the Bored Ape Yacht Club or nabbing the latest XCOPY artwork. Celebrities are now creating their very own NFT pieces; Snoop Dogg, for example, has his collection up on OpenSea, and Paris Hilton has teamed up with Superplastic to curate the “Past Lives, New Beginnings” collection. Canadian musician, Grimes, has sold $6 million worth of digital artworks owing to the fact that she was among the first to cash in on the NFT game. Her WarNymph collection of 10 artworks made Grimes among the best-selling NFT creators in the world, successfully creating enough hype and demand for her work. Even Eminem jumped on the bandwagon when he released his “SHADYCON” collection on Nifty Gateway, raising $1.8 million selling digital action figures and instrumental tracks. The problem here, of course, is that not everybody can get their hands on a piece of art created by their favorite star. When they miss out on upcoming celebrity NFT drops, they miss out on the chance to connect with these celebrities. This creates an untapped potential in the space, and one company has figured out how to capitalize on it while giving fans a chance to get closer to their idols. With so many celebrities emerging as voices for cryptocurrencies and NFTs today, there is a need to create a space for singers, actors, and sports stars where they may produce and host their collections for a wider audience. Making it easier for them to join in the blockchain revolution may even encourage long-time fans of these artists to take the plunge into cryptocurrency and NFTs themselves. This platform for celebrities will be hosted by nOFTEN, a brand-new NFT marketplace bringing the luxury gallery experience to the digital world. This digital gallery, however, will only feature collections curated by celebrities for fans to trade, share, buy, sell, and experience special moments never seen before. The platform serves as a medium to connect artists with their fans, creating a simple way for them to engage with dedicated fans and reveal exclusive content in the form of NFTs. These contents would include a personalized video, a new song, a chance to dine with a celebrity, and a video call, among other prizes. All of the above would be supported by the blockchain network, Etherlite, and incorporating these along with the website will tie the whole project together and encourage both communities – artists and fans – to participate and engage with each other. The digital gap is closing as people move to the metaverse for everything from work and school to grocery shopping and sports. nOFTEN closes the gap further by connecting artists with their adoring fanbase, providing both with an opportunity to learn, marvel at the art, and grow.
No official public announcement was made regarding the large sum donation.
Ethereum classic was easily the biggest gainer in the top 30 on Thursday, as the global crypto market was trading 0.9% lower as of writing. ZEC was also higher on the day, in what was a choppy session, as volatility remained higher, following a recent decline in prices. Ethereum Classic (ETC) Ethereum classic (ETC) was […]
I am very much interested in the web3 field, but way more into the product side of the industry. I would offer my PM knowledge to any startup/one-person start-up out there – for nothing in exchange. I am keen to learn more about the space and love getting involved into it. Maybe this could turn…
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