Binance Launches Solana (SOL) Staking; Holders Earn Up to 43% APY Paid Daily

Binance Launches Solana (SOL) Staking; Holders Earn Up to 43% APY Paid Daily

The largest crypto exchange in the world, Binance, has launched Solana staking. Users of the exchange now have an opportunity to earn up to 43.79% per year for staking SOL tokens.

The high-speed blockchain, Solana, which states it can handle about 65,000 transactions in one second, is designed to work under a proof-of-stake design model. The network is kept running by validators who earn SOL tokens for their work.

The SOL staking will be offered on a first-come, first-served basis where the entire stakes will be locked for a time to be determined by the holder, which will range from 15 to 90 days.

The launch includes a “high-yield, safe earn” on an annual basis so long as the staked amount is only 20 SOL equivalent of $325. This translates to about $142 total earnings if the SOL tokens are locked up for one year.

Binance also announced that those staking 10,000 SOL for only 30 days would earn 14.49%, while those staking 5,000 SOL for two months (60 days) will earn 16.7%.

Although proof-of-stakes are getting popular, they come with various risks. These platforms are created using a slashing process, which means that the platform is prone to stopping or slashing the transactions initiated by a malicious validator. This means that one can lose funds permanently. However, if Binance can ensure that all its validators are online and doing nothing malicious, there is nothing to worry about.

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Author: Joseph Kibe

Celebrities from All Industries Were Pumping DOGE to the Moon Over the Weekend

The latest trip to nearly $0.09 has DOGE becoming the 10th largest cryptocurrency with a market cap of $9.62 billion, worth more than the likes of Stellar (XLM), AAVE, Uniswap (UNI), EOS, Elrond, Tron (TRX), Tezos (XTZ), and Synthetix (SNX).

The meme cryptocurrency Dogecoin (DOGE) is back to pumping. The first pump was seen at the end of January when the price of DOGE went from $0.0073 to $0.073 on Bittrex, which soon fell to $0.03, but this month, DOGE has been slowly climbing up and yesterday went to nearly $0.09. Another retracement has been seen today to $0.062, but we are currently around $0.075.

These gains have DOGE at the 10th spot with a market cap of $9.62 billion, worth more than Stellar (XLM), AAVE, Uniswap (UNI), EOS, Elrond, Tron (TRX), Tezos (XTZ), and Synthetix (SNX).

Interestingly, over the weekend, while DOGE took off, yet again, other cryptocurrencies, including Bitcoin and Ether, experienced a correction.

All of this has been started by Tesla and SpaceX CEO Elon Musk and then carried forward by other celebrities. Musk has propelled DOGE prices higher previously on several occasions with his tweets, but this time, he went on a frenzy with his tweets about the meme coin.

As we reported, on Thursday, he tweeted, “Dogecoin is the people’s crypto,” and then in a separate one, “No highs, no lows, only Doge.”

In his appearance at the clubhouse, he had said, “the most ironic outcome would be Dogecoin becomes the currency of Earth in the future.” While this continued with “Ð is for Ðogecoin! Instructional video” tweet that he shared today, this might be it for the DOGE pump from Musk, for now, as he goes “back to work.”

But his DOGE mania did bring other celebrities in. Musician Gene Simmons, who recently announced his interest in cryptocurrencies and even bought some coins also promoted DOGE.

The “seven figure” Bitcoin HODLer, said he bought “six figures” of DOGE and tweeted about the cryptocurrency going to the moon.

Soon Rapper Snoop Dogg also jumped in with Kevin Jonas, chiming in, “All I’m saying… $doge.”

“If I had to choose between buying a lottery ticket and Dogecoin …..I would buy Dogecoin,” is how Shark Tank’s Mark Cuban announced he was also onboard the DOGE train. Cuban, who found more worth in a banana than cryptos, recently revealed that he owns Bitcoin, Ether, Litecoin, and popular DeFi tokens like AAVE and SUSHi, and he’s taking a special interest in NFTs as well.

Rapper Lil Yachty, who launched his social token in December, also said, “DOGE TO THE MOON AND WE NOT COMING BACK.”

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Author: AnTy

Bitcoin Takes Charge; Elon Musk Changes Market Trajectory with A Single Message

The Bitcoin market is roaring higher right after the largest options expiry in BTC’s history, despite the market giving signs of red, all thanks to Tesla CEO, after all, “In retrospect, it was inevitable.”

Today, it is about Bitcoin. The digital asset is back to rising higher and higher. In a big green candle, the digital asset went from about $32,000 to above $38,000.

This move came on the back of $17.84 billion ‘real’ trading volume, as per Messari, which was lower than Dogecoin initially when DOGE recorded $28.4 billion but is now slowing down.

It has been a volatile week for the leading digital asset as it dropped to about $29,000, and today it is making its way to 40,000, not far from the $42k ATH. This is to be expected with the battle going on between Wall Street and the retail investors who put Bitcoin and the world of decentralization as absolute winners.

Crypto-friendly Tesla CEO Elon Musk, who continues to pump Dogecoin, also changed his Twitter bio to simply read “Bitcoin,” much like Twitter and Square CEO Jack Dorsey.

“In retrospect, it was inevitable,” read his subsequent tweet, which the Crypto Twitter (CT) would like to believe is in regards to Bitcoin.

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While the market was looking bearish, with miners selling BTC since 34k that has the number of all miners’ deposit transactions to exchanges hit the year-high, no stablecoin inflow recorded, and exchange Whale Ratio hitting the eight-month high, a small nudge from Musk was enough to turn it bullish.

Musk’s bio change came just after the largest options expiry in bitcoin’s history and with the market expecting it to mean something – the possibility alone of Tesla potentially adding Bitcoin to its balance sheet was “enough to send the market roaring.”

Also, Bridgewater Associates founder Ray Dalio’s thoughts about Bitcoin have endorsed the digital asset to institutional investors. This is evident from the “astounding” number of inquiries One River Asset Management reported about, which is just one firm and the beginning.

BTC is looking strong, and according to Capriole Investments, “the bottom is in,” which means we need to be prepared for new highs yet again. Not to mention, the underlying Bitcoin network, number of active addresses, the hash rate, the block size, and the number of whales have been showing significant strength throughout.

“The first and most critical step for bulls is to reclaim the $33K order block,” reads the firm’s newsletter. A close above this level presents “a great long opportunity,” and should a short-term breakdown occur, “the $27K region has a high degree of price action support and Fibonacci level confluence.”

And when that dip comes, which would still be in line with the previous bull market, that is for buying because “oftentimes bargain hunters are left stranded on the side of the road in parabolic Bitcoin bull runs.”

The Macro Market

The US dollar, meanwhile, is recovering from losses it incurred earlier this month. From the low of 89.2 in the first week of January, the USD Index has strengthened to 90.7 level.

Interestingly, recently, European Central Bank policymakers agreed to open an investigation to look deeper into the euro’s appreciation against the dollar, or as an analyst, Mati Greenspan puts it, “why the US Dollar is sinking faster than the Euro.”

Policymakers are alarmed on the euro’s strength over the past year and that it will further push inflation down, which is already below zero. Commerzbank told clients.

“The ECB is joining the ranks of those central banks who – because domestic tools have largely been used up – discover the exchange rate as a monetary policy ‘tool.’”

Recently, ECBs Governing Council also noted that an increase in US market interest rates also failed to push the dollar higher. “Put simply, the bar for more policy easing to stem currency gains is very high,” said Vasileios Gkionakis, head of FX strategy at Banque Lombard Odier & Cie.

As the greenback looks strong, this week S&P 500 took its biggest drop in three months. While gold remains around $1,845 per ounce, silver jumped to almost $28 after WallStreetBets set its eyes on the precious metal, intending to pump it to $1,000.

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Author: AnTy

China’s Central Bank Successfully Completes Its Largest CBDC Pilot Program In Shenzhen

China’s Central Bank Successfully Completes Its Largest CBDC Pilot Program In Shenzhen

  • China’s central bank completes a second successful test on its digital currency project in Shenzhen.
  • Over 140,000+ transactions were completed, $3 million given away, and 100,000 residents participated in the test.

The People’s Bank of China (PBoC) completed its largest digital currency electronic payment (DC/EP) test in Shenzhen. Over $3 million of the central bank’s digital currency was given away to over 100,000 residents in Shenzhen via a red envelope lottery, a WeChat post confirmed. The 10-day long test, which began on January 7th, saw over 140,000 transactions completed at points of sale designated to accept the digital yuan.

As we reported, the first test in Shenzhen saw over $1.3 million worth of digital yuan disbursed to over 47,000 consumers in the Luohu district during the week-long trial. According to the report by PBoC, over 2 million people applied to the first lottery, with a total of 50,000 red envelopes, for a chance to win 200 digital yuan.

According to the post, 1.8 million residents applied for the ‘red envelopes’ in the latest lottery, with 95,628 winners receiving the digital yuan in their wallets. A total of 139,794 transactions were made during the 10-day trial period, totaling $2.8 million spent by the residents. Residents deposited a further 1.51 million digital yuan (approx. $232,000) to their DC/EP wallets during the trial period.

In November, local reports from China confirmed that the PBoC worked on launching trials and piloting the digital yuan project to other provinces starting with Suzhou in Xiangcheng. Suzhou trials will be carried out similarly to Shenzhen ‘red envelope’ trials but are expected to feature offline payment channels and a smartphone touch feature.

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Author: Lujan Odera

Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset

Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset

Cryptocurrency exchange Kraken has become the latest platform to halt XRP trading for US residents from January 30, 2021, at 1:00 UTC due to SEC filing against Ripple Labs. For those users residing in other countries, XRP markets will continue to operate uninterrupted.

US residents with open XRP spot positions on the margin on Kraken are also required to satisfy their margin obligation by January 28, 2021, at 11:59 pm PT, or their positions will be liquidated.

While US residents won’t be able to trade XRP, these users will still be able to deposit, hold, and withdraw XRP on the exchange. Also, this will not affect Spark token airdrop.

As the list of crypto outlets suspending XRP trading for US users continues to get bigger, the digital asset continues to lose its value.

Among the top 100 crypto assets, XRP is not only the one with over 50% losses in the last 30 days but is also among a handful of cryptocurrencies that are experiencing a downtrend.

Since Bitcoin took to ranging this week after the pullback, altcoins are using this opportunity to rally and DeFi tokens have simply exploded so much that Polkadot (DOT) has replaced XRP as the fourth largest cryptocurrency by a market cap of $14.48 billion XRP 0.78% XRP / USD XRPUSD $ 0.28
$0.000.78%
Volume 4.09 b Change $0.00 Open $0.28 Circulating 45.4 b Market Cap 12.72 b
8 h Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset 1 d Ripple to Hire Managing Director For RippleNet Payment Network in Europe 2 d Grayscale Investments Buys 2,170 BTC, No ETH Yet While Dissolving XRP Trust Altogether
. Polkadot has been enjoying an uptrend lately, hitting an all-time high at $18.30 in the process DOT 38.25% Polkadot / USD DOTUSD $ 18.16
$6.9538.25%
Volume 8.76 b Change $6.95 Open $18.16 Circulating 900.81 m Market Cap 16.36 b
8 h Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset 1 d Fireblocks Introduces Crypto Staking for Institutional Investors; Ethereum, Tezos and Polkadot 1 d 150-Year Old Insurance Company, Metlife, Talks About The New Kids On The Block; The ‘Altcoin Revolution’
.

XRP is currently trading at $0.289 with a market capitalization of $13 billion.

On data provider Messari, even Cardano ADA 14.96% Cardano / USD ADAUSD $ 0.35
$0.0514.96%
Volume 4.39 b Change $0.05 Open $0.35 Circulating 31.11 b Market Cap 10.75 b
8 h Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset 1 d 150-Year Old Insurance Company, Metlife, Talks About The New Kids On The Block; The ‘Altcoin Revolution’ 5 d Cardano (ADA) Passes Polkadot (DOT) As Largest Cryptocurrency Staking Network
has jumped above XRP at the 5th spot with Liteocin LTC 2.35% Litecoin / USD LTCUSD $ 143.53
$3.372.35%
Volume 7.13 b Change $3.37 Open $143.53 Circulating 66.29 m Market Cap 9.52 b
8 h Kraken Halts XRP Trading; DOT Replaces the Digital Asset as 4th Largest Crypto Asset 1 d 150-Year Old Insurance Company, Metlife, Talks About The New Kids On The Block; The ‘Altcoin Revolution’ 4 d Grayscale Reopens Deposits for New Investors In Its Crypto Trusts; Excludes Ethereum & XRP
ready to take even the 6th spot from XRP.

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Author: AnTy

Gnosis Safe Is Now The 4th Largest Ethereum Wallet Address; Adds 1.5M ETH In A Day

Crypto Custodian, Gnosis Safe Is Now The 4th Largest Ethereum Wallet Address; Adds 1.5M ETH In A Day

Gnosis Safe added over 1.5 million Ethereum tokens in a single day. The value of the ETH and ERC20 tokens stored soared to $2.3 billion, making the firm the fourth largest custodian of ETH.

In a tweet sent out on Thursday, Gnosis Safe, an Ethereum digital assets custodian, confirmed over 1,500,000 ETH (~$1.8 billion) was added to their safe on Jan 14. This brings the total amount of ETH stored on Gnosis wallets to slightly above 2% of the total supply of ETH.

Just a day earlier, the crypto custodian announced they had reached a million ETH stored in their safe after a 600,000 ETH deposit by an unknown account. The latest transaction is also unknown but is widely speculated to institutional money – a bullish indicator for ETH price in the future ETH -1.86% Ethereum / USD ETHUSD $ 1,162.91
-$21.63-1.86%
Volume 35.74 b Change -$21.63 Open $1,162.91 Circulating 114.27 m Market Cap 132.88 b
2 h Fireblocks Introduces Crypto Staking for Institutional Investors; Ethereum, Tezos and Polkadot 4 h Crypto Custodian, Gnosis Safe Is Now The 4th Largest Ethereum Wallet Address; Adds 1.5M ETH In A Day 7 h DeFi Project CREAM Reinventing with Zero Collateral Protocol-to-Protocol Lending Platform
.

According to Etherscan’s ‘Rich List‘ –ranking the top account addresses by value – Gnosis Safe is the fourth largest account with 2.5 million ETH held in the account or 2.18% of the total ETH supply. Only Wrapped ETH deposit contract address (4.59%), Binance ETH address (2.53%), and Ethereum 2.0 deposit contract address (2.19%) have larger amounts of ETH tokens than Gnosis Safe. Back in August of 2020, the wallet had just toppled $1 Billion AUM.

Gnosis Safe is a smart contract powered platform that provides users with a safe and secure multi-signature wallet solution to retail and institutional holders. Individual users will need to sign the transactions from multiple wallets or devices, while institutions can choose to delegate several employees to sign the transactions.

Safe replaced the Gnosis Multisig wallet in 2019, enhancing its infrastructure, security, and users’ functionality. The custodian also launched its iOS and Android mobile apps on its mainnet and Rinkeby testnet platforms.

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Author: Lujan Odera

IGT Gets Regulatory Approval to Use Bitcoin & Crypto’s at Slot Machines

The world’s largest slot machines’ maker, International Game Technology Plc, is looking at offering cryptocurrency as a payment option on its casino games like Wheel of Fortune and Megabucks.

It has been only last year that the Nevada Gaming Commission made it easier for casinos to introduce cashless systems and now IGT has gained regulatory approval for using cashless wallets on slot machines.

The company received a patent this week for the means to transfer crypto between a player’s account on the gaming-establishment and an external crypto account, reported Bloomberg.

This would allow players to move BTC and other crypto assets into their digital wallets on a slot machine through their phones. Company spokesman Phil O’Shaughnessy said,

“IGT secured this patent to bolster its industry-leading patent portfolio in anticipation of any possible future direction in regulated gaming involving cryptocurrency.”

Going the crypto route certainly makes sense especially to attract the younger gamblers. According to IGT, a third of guests at Caesars Palace in Las Vegas are between the ages of 21 and 40.

Now that Bitcoin, Ethereum, and other altcoins prices have started rallying like crazy, everyone wants a taste of cryptocurrencies.

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Author: AnTy

Top Argentinian Crypto Firm Purchases Second Largest Bitcoin Exchange In Brazil

Top Argentinian Crypto Firm Purchases Second Largest Bitcoin Exchange In Brazil

  • Argentina’s crypto firm, Ripio, is set to purchase Brazil’s second-largest cryptocurrency exchange, BitcoinTrade. Ripio aims to expand its market presence and the prevalence of digital assets across Latin American countries.

According to a local Argentinian newspaper Ambito, Ripio, one of the leading crypto firms in the country has purchased BitcoinTrade, reportedly the second-largest exchange in Brazil. The purchase aims to increase Ripio’s market presence and strengthen its operations across Latin America as the leading digital assets service firm.

Ripio, the largest digital asset exchange in Argentina, announced at the end of 2020 that it had reached close to 1 million active users on its platform. Having entered the Brazil market in 2019, Ripio boasts as one of the fastest-growing crypto companies in the country – a clear indication of why the purchase of BitcoinTrade is important. Sebastián Serrano, CEO at Ripio said,

“We have been following the growth of Bitcoin Trade for a long time and we are convinced that we will overcome greater challenges by working now towards the same goal.”

Launched in 2013, Ripio is one of the oldest, and heavily resourced crypto companies in the Latin American region with over 150 employees across the region. The company will expand its digital assets services to the region to increase the adoption of crypto, Serrano further said;

“We seek to expand access to the world of digital assets, building simple tools and enabling reliable information for decision making.”

BitcoinTrade, launched in 2017, grew to become the second-largest crypto exchange in Brazil in volumes and user activity. As of today, the company joins the Ripio family working to expand digital asset services to Brazilian and Latin American people.

The purchase is set to open up new horizons in the crypto ecosystem in Latin America, Carlos Andre Montenegro, founder of BitcoinTrade said,

“We are convinced that Ripio is the best company to extend the path we have built with BitcoinTrade in Brazil.”

Ripio joins Bitso, a Mexico-based crypto exchange, in the push to capture the hugely underdeveloped Brazilian crypto market. Bitso recently announced a $62 million funding round to expand its services across the Latin American region – with a keen eye on Brazil. Ripio also raised $44 million through VC investment including a $37 million initial coin offering (ICO).

Serrano believes the two companies have enough market to share in Brazil, given the largely underdeveloped crypto industry in the country. He further said,

“Bitso and ourselves are the two really well-funded companies with access to venture capital. There are no companies in that position in Brazil. But, really I think the opportunity is about growing the entire Latin America market.”

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Author: Lujan Odera

World’s Largest Asset Manager, BlackRock, to Hire a VP to ‘Drive Demand’ for Crypto Offerings

World’s Largest Asset Manager, BlackRock, to Hire a VP to ‘Drive Demand’ for Crypto Offerings

The New-York VP of blockchain requires experience in the technological foundations of blockchain technology who will be devising fundamental valuation methodologies for crypto-assets.

Well, no surprise there.

Given that everyone is jumping on the bitcoin and cryptocurrency bandwagon, this is to be expected. BlackRock, which has about $7 trillion assets under management, has been turning Bitcoin-friendly.

It all started in November when BlackRock CIO of Fixed Income Rick Rieder not only said that Bitcoin and cryptocurrencies are here to stay but that digital gold can replace yellow metal someday.

A few days back, Reider also said that there is “clearly greater demand than supply.”

At the beginning of this month, CEO Larry Fink talked about Bitcoin catching the attention of people which can possibly evolve into a global market asset that is while questioning the US dollar’s status as a reserve currency.

And now, BlackRock is hiring a vice president to “drive demand” for its crypto offerings.

As per the job vacancy, the New-York VP of blockchain will have at least one year of experience in the technological foundations of blockchain technology including cryptographic hash functions, distributed network consensus mechanisms, and public-private key cryptography.

The candidate will be creating and articulating fundamental valuation methodologies for digital assets; evaluating game theory and decentralizing governance models; and work with key drivers of blockchain networks’ design and their impact on speed, scalability, privacy, and security.

He/she has to “create and implement strategies designed to drive demand for the firm’s offerings and enhance the value proposition to clients of the firm’s investments and technology offerings,” reads the description.

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Author: AnTy

Here’s Why Coinbase Exchange IPO is ‘Huge’ News for the Crypto Market

The largest cryptocurrency exchange in the US, Coinbase, announced Thursday that it had filed confidentially with regulators to go public. It did not specify whether the exchange plans to go with an initial public offering (IPO) or other listing routes.

The day Coinbase divulged the information, the Bitcoin price also hit a new record of $23,800.

As per the official announcement, Coinbase Global, Inc. has confidentially submitted a draft regeneration statement on Form S-1 with the Securities and Exchange Commission (SEC), which is currently under the process of review.

The news of the San Francisco-based exchange going public is significant for the cryptocurrency market. Coinbase has long been rumored for a public listing for one of the best-known companies in the industry. Jake Chervinsky, the General Counsel at Compound Finance, said,

“If it wasn’t obvious, this is huge news.”

“Sure, there are other publicly-traded companies in the USA with a stake in crypto, but none remotely like Coinbase. The fact that a crypto exchange is suitable for public listing sends a massive signal of legitimacy to the finance world.”

Founded in 2012, Coinbase has been slowly growing its suite of tools, catering to both the retail and institutional investors.

The company is “spiritually” built to go public via an offering that involves digital tokens on a blockchain, said Coinbase co-founder Fred Ehsram in a recent interview with Fortune.

During the company’s last fundraising round for $300 million in 2018, Coinbase was valued at nearly $8 billion, which in the current hot crypto market, has now swelled to $28 billion on the back of an estimated 13,000 retail customers a day and custodying $25 billion of customer funds across 35 million customers. Mira Christanto of crypto data provider Messari noted,

“Following Coinbase’s IPO announcement, we value the company at $28 billion. Coinbase is one of the most prominent exchanges with $1 billion daily volume in Dec-20.”

This IPO will be an opportunity to cash out not only for the early shareholders, including CEO Brian Armstrong and the backers, venture firm Andreessen Horowitz, Y Combinator, and Greylock Partners but also for the employees the means to start their startups. MacroScope, involved in institutional trading and asset management, said,

“Getting major flashbacks right now to Amazon’s IPO in the 1990s, when I was a trader on a big sell-side desk. Feels very similar in several ways including industry backdrop and public sentiment, the latter of which included a huge amount of skepticism and scorn.”

Besides legitimizing the crypto industry, the Coinbase IPO is expected to present another opportunity to jump on the cryptocurrency bandwagon. Some feel this “watershed moment” may even clear how the SEC can approve a Bitcoin ETF.

However, the crypto market wants Coinbase to go public early in the bull run and not run the risk of the top the market.

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Author: AnTy