Day: April 13, 2021

Record $8B open interest on Ethereum futures shows the pros are ‘here’

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The price of Ether continues to push higher, and many analysts are calling for $3,000 as a short-term target. All of this “success” takes place in the face of Ether (ETH) being in a bottleneck regarding high fees, network congestion and a tense situation with miners.  With decentralized finance (DeFi) applications taking center stage and the aggregate volumes at exchanges surpassing $4 billion per day, Ether’s price has rallied over 200% since the start of the year, marking a new all-time high at $2,300 on April 13. This impressive price…

Signal Mentions Zcash, Lightning As Possible Options

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Key Takeaways Signal has published an update on its efforts to implement MobileCoin (MOBI) cryptocurrency payments. It addressed some of the criticism that the cryptocurrency has received, such as high fees and price volatility. It also discussed the possibility of future crypto integrations such as Zcash and Bitcoin via the Lightning Network. Share this article Signal announced last week that it plans to introduce cryptocurrency payments. Now, it has published further details on those plans. More Than Just MobileCoin? Last week, Signal announced support for MobileCoin (MOBI) payments. That cryptocurrency…

Dogecoin (DOGE) hits a new ATH as Bitcoin bulls try to flip $63K to support

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The price of Dogecoin (DOGE) experienced a strong 36% rally on April 13 and established a new all-time high at $0.0961. While the exact reason for the rally is unknown, the crypto market’s most popular meme coin now finds itself on the shortlist of cryptocurrencies being considered as a payment option in today’s post-pandemic business reopenings.  Data from Cointelegraph Markets and TradingView shows that DOGE rose 36% from a low of $0.07 in the early hours on April 13 to an intraday high of $0.0961 on $5.4 billion of trading…

NFTs by mail? US Postal Service plans to support postage tokens

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The United States Postal Service will soon be stepping into the nonfungible token market. Not to release artwork or music, but rather to help customers purchase postage. In an announcement on Tuesday, communications-as-a-service platform CaseMail said the USPS had certified its postage nonfungible tokens, or NFTs, for use in the United States. The tokens are digitally stamped on the USPS’ ePostage labels and the physical item being mailed, creating a verifiable chain of custody for digital and physical assets, as all data is recorded on the blockchain. “Using NFTs to…

Nvidia triples revenue forecast for crypto mining GPU sales

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Nvidia says the positive performance of its various market segments has seen the company revise its initial forecasts for Q1 of fiscal 2022. The company made this known during its annual investor day on Monday revealing total revenue for Q1 is already tracking above the $5.30 billion forecast included in its previous end-of-year earnings call. This positive market performance has also extended to Nvidia’s graphics processing unit, or GPU, sector with the company raising its Q1 revenue estimate for its cryptocurrency mining processor, or CMP, product three-fold to $150 million.…

JPMorgan, Mastercard lead $65M ConsenSys raise

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ConsenSys, a prominent blockchain software company, has raised $65 million in strategic investments from major financial institutions including JPMorgan Chase, Mastercard and UBS, offering yet another sign that traditional finance is entering the crypto space. The investment round will aid ConsenSys in expanding its enterprise blockchain infrastructure solutions to enable more DeFi and Web3 applications on Ethereum (ETH), the company announced Tuesday. After a year of significant growth, ConsenSys is now focusing on accelerating mainstream adoption of Web3, which is considered to be the next phase of the internet’s evolution.…

Social Trading Platform Enso Finance Raises $5M in Funding Round 

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Key Takeaways Enso Finance has raised $5 million from Polychain, Dfinity Beacon Fund, Multicoin Capital, and other key industry players. Enso Finance is a DeFi tool for creating permissionless trading strategies. It’s hoping to make DeFi more frictionless and accessible. The project will initially launch on Ethereum, though it has plans for “multi-chain support” to follow. Share this article Soon-to-launch social trading platform Enso Finance gets a cash injection.  Enso Finance Closes Funding Round  Enso Finance has closed a $5 million funding round. Polychain and Dfinity Beacon Fund led the…

Crypto.com will provide liquidity to Finxflo in new partnership

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Cryptocurrency exchange platform and card issuer Crypto.com will be providing liquidity in a new partnership with Singapore-based hybrid liquidity aggregator Finxflo. In an announcement today, Crypto.com said it would be joining Finxflo as the firm’s first liquidity provider, reportedly allowing the exchange to increase its transaction volume and mitigate market volatility. In general, liquidity aggregators may allow crypto traders to take advantage of deeper liquidity pools and more advantageous price execution. “We want to eliminate the hurdles associated with crypto trading, and streamline the experience for new retail investors,” said…

Linux Foundation launches blockchain-based platform for insurance

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The Linux Foundation, the nonprofit technology consortium that supports the Linux operating system, is backing a new blockchain-based project for the insurance industry. On Monday, the foundation announced the launch of the Open Insurance Data Link platform, a project that aims to reduce the cost of insurance reporting and create a standardized insurance data repository using distributed ledger technology. OpenIDL is a joint initiative of the Linux Foundation and the American Association of Insurance Services, a national insurance advisory organization in the United States. The open-source project brings together major global insurance…

DeFi Project Spotlight: Bancor, The Dark Horse Decentralized Exchange

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Share this article In 2017, Bancor pioneered automated market makers (AMMs) to replace order books using a native reserve asset, the BNT token. After losing ground to other decentralized exchanges such as Uniswap or Sushiswap, Bancor’s v2.1 showed that the project is far from over.  Re-Introducing Bancor Understanding Bancor can be tricky because of the system’s complexity, but there is a reason why the total value locked in the protocol has skyrocketed in 2021. Bancor’s USD monthly volume. Data from Dune Analytics In October 2020, Bancor released v2.1 to an…