Posted on

Bitcoin Option Traders Seem Doubtful At Entering Directional Trades

Data from Bitcoin options shows that crypto traders are currently selling out and uncertain about entering directional bets on the coin’s future transactions. This is the highest occurrence of this kind of investors’ sentiments on the coin since last year May, when more than 50% of Bitcoin’s value declined.

Arcane Research’s Report On Bitcoin

Crypto market analysis company Arcane Research had recently published a report on the performance of Bitcoin. Their research highlighted that the coin experienced low volatility of over 70%, bolstering that this is the first time options traders have gone on a long-term bearish direction since last year May.

BTC stands above $44K | Source: BTCUSD on TradingView.com

Meanwhile, Bitcoin options enable traders to trade on BTC price movements; as the coin appreciates, the price of the options increases. Consequently, the analyzed low volatility shows that investors aren’t ready to bet on the direction of the leading cryptocurrency. Also, this is the first time that the coin’s options have been this cheap since May 2021.

Related Reading | Bitcoin Dominance Will Continue To Decline In Favor Of Ethereum, Altcoins, FTX US President

In addition, Arcane Research stated that the coin’s volatility skew has peaked since last May. The volatility skew evaluates the difference between market price and call price. Generally, the call option has been more costly than the pull options, creating a downward option skew.

Moreover, the recent depreciation in BTC price, the current BTC option skew, has now surmounted to its highest since the overall crypto crash in May 2021. This suggests more sellers than buyers in the coin, resulting in a bearish market.

Presently, Bitcoin option investors are the most bearish in a long while. Also, they’re hesitant about choosing a direction they feel that the BTC coin is moving in. Furthermore, the report shows that this signals traders to purchase cheap calls.

A Brief On Crypto Options

Options enable traders to place trades on an assets’ price directions. For a transaction to be completed, the traders buy the possibilities if the digital asset reaches a predicted price. Also, it’s worthy to note that volatile assets’ options have a greater demand, as they offer better possibilities for leveraging. Consequently, crypto assets with high volatility have more expensive options.

Despite Chaos, Bitcoin Price Faces a Turnaround

Regardless of traders’ lack of confidence and hesitations in betting on the directions of Bitcoin options, the coin seems to be gaining. From the 4-hour chart, Bitcoin has created an upward triangle pattern and shown a 15% increase from its previous upper boundary.

Related Reading | TA: Bitcoin Fails to Test $45K, Why Dips Could Be Attractive

For the world’s largest crypto asset to surmount its bullish milestone, it must surpass the upper boundary of the existing chart pattern, which is above $44k.

Featured image from Pixabay, chart from TradingView.com

Posted on

Representing Lawyer of XRP Holders Predict SEC’s Next Move As Ripple Price Hikes

Ripple is one of the altcoins that has strived comparative well within the cryptocurrency space. The price-performance and the general trend in the protocol’s ecosystem have made this crypto one of the outstanding long-term and short-term investment choices.

Currently, Ripple is ranked in the 6th position according to CoinMarketCap, as it boasts a market cap of over $40 billion.

With the recent case of SEC and Ripple, several of the XRP community have some built-up tension over the possible action to expect.

Related Reading | Bitcoin Hashrate Climbs To New High As Price Recovers Above $42,000

This is after the unsealing of three different documents set by the judge. However, John Deaton, the cryptocurrency lawyer representing more than 64,000 XRP holders, put forth some possibilities to calm the situation. First, he explained that SEC is likely to make two potential moves.

From the new evidence, there’s an inclusion of the email thread and deposition notice of Brad Garlinghouse, Ripple CEO. Also, the evidence contains the line of Chris Larsen, a Ripple executive.

According to Deaton’s suggestion, substantially proving the link between Ripple’s public announcements and XRP price would be a near impossibility. Moreover, he mentioned that the SEC would have to confirm the sale of XRP tokens by Garlinghouse and Larsen in the U.S.

Furthermore, the lawyer was contemplating if SEC could lay claim of Ripple creating a secondary market for XRP. This could be their alternative approach once they fail to establish that the two Ripple executives are selling XRP in the U.S.

Deaton is yet to access the unsealed document despite his having the amicus counsel status in the case.

Ripple (XRP) Price Hikes, Aims To Touch $0.90

The price of XRP is finally skyrocketing, as shown on the 4-hour chart. Its upward trend indicates a prime surge, as its target is to hit $0.90. However, the crypto may have to face a little tussle in striving to achieve its target.

XRP rises on the daily chart | Source: TradingView.com

But through its move, the XRP price is likely to encounter a great challenge while soaring above the $0.90 level. This is mainly due to the resistant bridge from the Momentum Reversal Indicator (MRI) as the 78.6% Fibonacci retracement level.

Related Reading | These Two Altcoins Are Ready For Major Pullback, Says Crypto Analyst

Once there’s an increase in the buying orders, the bullish trend of the XRP price will likely get to a new high. But where the selling demands increase, the XRP price may have to dwindle and hit its Simple Moving Average (SMA) of $0.69.

Featured image from Pixabay, chart from TradingView.com

Posted on

Cardano (ADA) Price Touches $1.20 Aims To Regain Previous Losses

Cardano (ADA) appears to be bullish. However, the uptrend seems to experience a limitation as there are possibilities of several obstructions in its way. Thus, traders need to be cautious around the ADA coin and its forthcoming rally.

What is Cardano?

Cardano is a PoS (Proof of Stake) blockchain that is open-source and distributed. Cardano implements peer-to-peer transactions using its native token, ADA. The crypto project was developed in 2015 and released in 2017 by the former Co-Founder of Ethereum, Charles Hoskinson.

Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys

Also, Cardano is popularly known as the “Ethereum Killer” as it attempts to solve issues related to the Ethereum blockchain.

ADA provides a versatile, sustainable, and scalable network for deploying smart contracts. Using Cardano, you can develop and deploy an extensive array of dApps (decentralized applications), crypto coins, games, and other projects.

Cardano Price Continuously Appreciates

ADA price experienced a 45% downtrend between the 20th and 22nd of January, a similar experience to Bitcoin. Even though ADA dipped beneath the $1 psychological level, it didn’t create any candlestick lower than that. However, it quickly regained from this level. The ADA token leaped by 20% from its bottom price and signals that this uptrend will be consistent.

ADA ready for takeoff | Source: ADAUSD on TradingView.com

Although this uptrend is worth considering, the coin will encounter several obstructions in its way. On the contrary, this upswing appears to be limited near the $1.22 level, and this is because of the 50-day SMA (Simple Moving Average).

IntoTheBlock’s Global In/Out Model

The transaction data gotten from the GIOM (Global In/Out of the Money) model reinforces this capping thesis for ADA’s price. The Global In/Out of the Money model, an on-the-chain trading index, displayed that about 484,540 addresses bought circa 6.2 billion ADA coins at the regular price of $1.26, and they were “Out of the Money” transactions.

Image Credit: IntoTheBlock

Thus, any day-trading purchasing pressure that rallies Cardano (ADA) into this region will encounter an enormous bearish pressure.

Also projecting that this upswing will be short-spanned is decreased number of new coin addresses entering Cardano’s mainnet from 73,780 to about 63,310 within the past month. It’s worthy to note that this 14% decrease signifies that ADA traders are less interested in the coin’s prices at its present levels.

Related Reading | Is Largely Unbanked Africa Primed for Bitcoin Adoption?

Notwithstanding the buying pressure Cardano (ADA) faces, any denial at both levels can cause the altcoin to trade as low as $1.

Image from Coingape, charts from IntoTheBlock and TradingView.com

Posted on

Increased NFT Demand Triggers Tezos Transactions And Smart Contract Activity

Recently, the Tezos network has been experiencing progressive growth in its smart contract addresses and adoption for the past 12 months.

This is majorly linked to non-fungible tokens as the primary driver for the increase. Hence, with the move, Tezos stands as viable competition to Ethereum in terms of NFT minting and its markets.

Non-fungible tokens, NFTs, are recently gaining more attention within different sectors. More businesses and even celebrities embrace this digital asset for various reasons that satisfy their purposes.

From creating expressions and awareness to generating non-profitable funds to enhancing community engagement and interactions, the use of NFTs continues.

Just like cryptocurrencies, NFTs are created with smart contract technology. So, they could maintain a decentralized character by having no interference with third parties. This has also increased the activities of some blockchains that engage in developing non-fungible tokens.

Related Reading | Bitcoin On Track To $50K, Why BTC Whales May Blaze The Trail

One of the competitive advantages for Tezo is the high fees on the Ethereum network. This pushes both NFT developers and investors to look for alternatives, of which Tezos is one of them. In addition, the Tezos network boasts a portal for all its NFT marketplaces that it professes to be Carbon-Neutral. Also, fees at the network are meager.

Moreover, there have been some controversial environmental issues surrounding NFT minting and trading on networks with Proof-of-Stake (PoS) consensus mechanism. Tezos got a wide applaud as a unique platform that handled these issues.

Impacts Of The Rise In NFT On Tezos

Recently, the report from ‘State of the Network’ of Coin Metrics disclosed that the number of smart contract transactions rose within the last 12 months from 10,000 daily as obtainable in January 2021 to over 50,000 daily. According to the report, the observable growth is attributed to some NFT platforms.

One of the great platforms is FX Hash, a generative art site that has increased interest. Also, there is Ubisoft, a gaming giant, that declared Tezos support for its gaming NFTs in December 2021.

Furthermore, Tezo’s active addresses have reached an all-time high of more than 45,000. Subsequently, there’s a tripling of active smart contract addresses, which was below 200,000 to above 600,000 for the past 12 months. This explains the surge in NFT and DApps operating on Tezos.

Inclusive in the research is the total number of daily transactions under the category of Other Transactions. The report revealed that from August 2021, there was a spike in the figure.

Tezos stands at $4.04 | Source: XTZUSD on TradingView.com

This was after Tezos launched an upgrade that splashes block times in half. This has raised the daily transaction numbers from previously being 40,000 to 250,000, and it’s still within this level presently.

Related Reading | The Bear Signal That Suggests Another Bitcoin Crash Is Coming

The report also gave a chart of addresses with a least of 1 XTZ token. It has exceeded 300,000, showing an increase of 150% of its value last year.

Launched in 2018 as an energy-efficient PoS blockchain, Tezos validates and adds new blocks to its chain known as Baking on the network.

Featured image from Nairametrics, chart from TradingView.com

Posted on

Cryptocurrency Wallet Phantom Marks $1.2 Billion Valuation Amid Recent Funding Round

Investments in cryptocurrency are incomplete without a crypto wallet to store your assets. A good crypto wallet will house your coins and provide adequate security that will be pretty difficult for external invasion. The wallet could be either online or offline storage.

Due to its relevance, several crypto exchanges offer their customers their online crypto wallet services. This means that if you intend to use such wallets, you won’t have to move your tokens from the exchange platform.

Additionally, some crypto networks now have wallets that customers could use, of which Phantom wallet from the Solana network is one of them.

With the increasing activities and growth of DeFi operations on Solana, there is a need for the network’s wallet. Moreover, it forms an excellent synchronization to the meteoric rise of the blockchain as Solana now has more than $15 billion in assets under its control.

Related Reading | Bitcoin Sees Poor Demand As Investors Try to Defend $37K, Is BTC In Trouble?

This will help customers to interact with the DeFi ecosystem through its numerous provisions fully. In addition, Phantom creates a unique integration of Solana’s nascent DEXs, liquidity pools, and even lending protocol.

The recent funding round of Phantom raised the market cap of the wallet to $1.2 billion. This new height of Phantom came with the addition of $109 million from the recently concluded Series B funding round.

Paradigm, a crypto venture capital firm, led the financing round to its enormous success. The power of Phantom’s height has changed the wallet’s status to a crypto unicorn company.

Cryptocurrency Wallet Phantom Plans To Launch IOS Application

On Monday, Phantom released an official blog post outlining how the generated funds will be utilized to improve the wallet’s technical capacity.

The deployment will enhance multiple blockchain security, boost customers’ experience, and assist users in uncovering decentralized applications. Also, it will help in the wallet team’s expansion with more growth in its customer base.

Besides Paradigm as the pioneer of the funding round, the top investors contributed to its success. Variant, Andreessen Horowitz (a16z), Jump Capital, and Solana Ventures.

Furthermore, there will be a launch of the iOS mobile app of the Phantom wallet. According to Phantom’s announcement last November, the launching of a mobile application will facilitate the rapid growth of the Solana network.

Cryptocurrency market to recover above $2 trillion | Source: Crypto Total Market Cap on TradingView.com

Users will get the proper support to seamlessly execute their transactions at any location. They could send, receive, and store tokens and NFTs. Also, they could join in the staking of SOL coins.

Additionally, Phantom bears the plan of launching its Android wallet within the year. It mentioned that this latter move would boost its mission of empowering its customer base. Also, it will offer unique opportunities for innovating on security and safety.

Related Reading | TA: Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $38K

Presently, Phantom has more than 2 million active users daily. It has over 12.4 million staked SOL tokens worth $10.4 billion. Its swapped tokens are about $1.37 billion and have executed 55.2 million DeFi, NFT and app transactions.

Featured image from Computer World, chart from TradingView.com

Posted on

Fintech Firm Milo To Provide Cryptocurrency Mortgage Services

More innovations keep springing up to fascinate and intrigue digital investors with increased cryptocurrency adoption. In line with that, Milo, a fintech startup based in Miami, introduced the first global crypto mortgage.

Through the bank’s offer, digital investors have the opportunity of buying real estate in the U.S. by using their cryptocurrencies.

Crypto market stands at $1.6 trillion | Source: Crypto Total Market Cap on TradingView.com

The offer from Milo, a digital bank, runs as 30-year mortgage loans. These are currently accessible to customers that could place collaterals with Bitcoin. This offer is open to both Americans and other investors to acquire real estate in the United States.

Related Reading | Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go

According to the official website of Milo, the bank advises that customers don’t have to qualify for the mortgage through the sale of their crypto holding for a down payment. Instead, using a crypto mortgage will help you leverage your assets to invest in real estate.

Some customers have received loan grants from Milo as part of an early-access stage. Subsequently, the digital bank anticipates that its service will get to most applicants on its waiting list.

In January 2021, the digital bank generated $6 million from investors. Including Metaprop, 10X Capital, and QED Investors in seed funding.

Currently, the amount of BTC for footing a loan or the collateral to balance the volatile nature of the cryptocurrency is unknown. Unfortunately, Milo is yet to disclose this information.

What Inspired The Cryptocurrency Mortgage?

Milo’s CEO and founder, Josip Rupena, mentioned the origin of the vision for the crypto mortgage. He said that it came from the numerous experiences of customers who cashed out their Bitcoin token for buying property. However, they will later discover a rise in the value of BTC after their cash out.

Furthermore, the digital bank already has millions of dollars generated from its other mortgage solution for international customers. This now has several applicants from more than 63 countries. Through this service, non-U.S.-based users can remotely close their housing loans. They do not need to move to the U.S. or any embassy.

The Mayor of Miami, Francis Suarez, stated that the BTC mortgage stands as a milestone to enhance U.S. dominance with the Bitcoin ecosystem.

Mayor Suarez said this on Monday during an introduction of Rupena at the North American Bitcoin Conference. Moreover, commended Milo for its innovative ideas, saying that it’s one of the companies needed to push Miami as the Capital.

Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC

Before Milo, there has been a previous move towards a crypto mortgage. United Wholesale Mortgage, in August 2021, initiated an action for crypto mortgage repayments in its pilot program that was using both BTC and ETH. However, the company later abandoned its plans by October due to uncertainty in regulation.

Featured image from Bitcoin Magazine, charts from TradingView.com

Posted on

USDC Leaves Tether Behind In Terms Of Market Cap And Becomes First On Ethereum

There are have always been tussles recently between the top two most popular stablecoins, USD Coin (USDC) and Tether (USDT). But recently, USDC is creating a notable milestone as it out-runs Tether on the Ethereum network in terms of the total supply.

Since 2016, Tether seems to be the top stablecoin, ranking the most popular. This is after its market sharing with BitUSD and NuBits (USNBT). From its launch in 2014, Tether operated on Omni.

However, it later emerged in the limelight as BitUSD and NuBits lost their shedding users and dollar peg, which threw them into obscurity.

Related Reading | Why The Ethereum Foundation Launched A Client Incentive Program

In 2018, USDC came into view as a solid competitor for Tether. While Tether seems to be under a cover due to some uncertainties with its backing, USDC appears with more transparency and adequate regulation.

The current supply of USDC and USDT on Ethereum is 40.6 billion and 39.82 billion, respectively. This now puts USD Coin ahead of Tether on the network.

However, Tether still stands as the most notable stablecoin having a total supply of 78.5 billion tokens. In addition, the asset has about 38.7 million tokens on the Tron network representing almost half of its total supply. Also, Tether tokens are available on Solana, BSC, Polygon, Huobi ECO Chain, Avalanche, and other 13 Chains, as well as L2 solutions.

Contributory Factors To Tether (USDT) Decline

Over the years, the gradual decline of Tether’s public images is attributed to lots of doubts surrounding its backing. Eyebrows have been raised on both the collateralization of the stablecoin and the management strategy of its reserved funds.

In its move to clear the numerous doubts, double Consolidated Reserves were issued. These reports came from Moore Caymon, an accounting firm, in 2021 concerning the financial reserves of Tether.

The latest financial report of the stablecoin disclosed its $30.8 billion holdings in an unclear commercial paper. This was in addition to other assets which are backing USDT.

On its part, USDC boasts of a total supply of 45.7 billion tokens running across 21 different Chains and L2 solutions. In addition, USDC has two key issuers; Circle and Coinbase, a digital payments service. Moreover, Circle is backed by China Everbright Bank, Bitmain, and eight other companies.

The Circle depicts high transparency on its reserves; it is still below the expectation of some critics. Following an announcement in August 2021 from Emile Choi, the President of Coinbase, there was a complete shift to cash and US Treasury bonds in the USDC reserves backing.

Related Reading | Ethereum Foundation Devs Discuss ETH2 Launch & Economics

A report from an Independent Accountant by Grant Thornton showed that the implementation of the shift took place on October 27, 2021.

On their centralized stablecoins, the top three remain USDT, USDC, and BUSD. However, there has been an increase in the proliferation of decentralized stablecoin versions.

USDT stabilizes on the daily chart | Source: USDT/USD on TradingView.com

Featured image from Pixabay, chart from TradingView.com

Posted on

Indonesia Based Boy Named Ghozali Becomes Millionaire By Selling Selfies On OpenSea As NFTs

Non-fungible tokens, NFTs, continue to make waves within the crypto ecosystem as an excellent means for profitability. As a result, many new and recent collections are rising as headlines through their massive accumulation of funds.

One of the trendy NFTs is Ghozali’s from an Indonesian youth who has sold over 1,000 selfies as NFTs on OpenSea. The selfies have been his daily collection for the past five years.

The Indonesian boy, Sultan Gustaf Al Ghozali, is 22 years old and held from Semarang. Ghozali, currently studying computer science, decided to take daily selfies some years back. Through this everyday action that he kept from 2017 to 2021, the boy now has more than 1,000 photos.

Related Reading | Cardano Enters The Basho Stage: How It Improves Performance

Reporting through his official Twitter account, Ghozali disclosed that his aim for taking his selfies for five years is to create a unique video. He said that the video would be done after his college graduation.

With the emergence and popularity of NFTs, Ghozali made a twist in his plan and decided to mint his photos into NFTs. This led to his subsequent sales of the NFTs on OpenSea.

According to a tweet on January 10, 2022, Ghozali has commenced uploading his selfies on the OpenSea platform with a project name, ‘Ghozali every day.’ This post revealed that the cost of each picture is 0.001 ETH.

Despite its lack of significant artistic value, the project maintains a floor price of 0.42 ETH. Furthermore, Ghozali every day currently has over 355 ETH of traded volume. About 498 addresses now own an NFT from the project’s collection.

ETH follows bearish trend | Source: ETHUSD TradingView
IreneDAO NFTs Follow The Same Success Trend

In a similar wave, Irene Zhao’s NFT initiative is taking more ground among the top topics within the last week. Irene Zhao, a prominent personality within the crypto space, is an advisor at Konomi Network.

Her recent NFT initiative project, tagged IreneDAO, aims to become a global grassroots movement that will disrupt the creator economy. Currently, the project collection comprises Zhao’s photos with transcriptions on them inspired by memes.

Related Reading | Cardano Hits Bottom? What You Should Consider Before Rushing Into ADA

Reports from OpenSea revealed that the floor price of the IreneDAO collection has been below 0.2 ETH for a few past days. However, it is presently sitting at 3.59 ETH. Moreover, its traded volume has moved over 1,800 ETH from its time of initiation.

Featured Image from Shutterstock and Charts by TradingView

Posted on

Cardano Backed Metaverse Project Pavia’s Land Price Skyrockets

Last week, Cardano network launched Pavia, a gaming application on the Metaverse. This stands as the first metaverse project operated on the Cardano blockchain.

The use of non-fungible tokens (NFTs), which operate with the same blockchain technology as cryptocurrencies, is increasing. They enable investors to get tokenized assets of their favorite art items, idols, places, etc. NFTs create representations of both tangible and non-tangible items.

According to its design, Pavia has about 100,000 land parcels issued. Each land parcel’s minting is a non-fungible token, NFT, that possesses individual coordinates.

Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

The pre-selling of the parcels kick-off since 2021 with more than 60% done between October and November. Also, there is a rush for the remaining portions which will be on sale within the first quarter of 2022.

The functionality of Pavia’s native token is as an in-game asset. An airdrop of Pavia’s native token was made to NFT landholders. This was after the blockchain’s snapshot in December 2021.

According to data from MuesliSwap, a Cardano-based exchange, Pavia tokens are selling around 20 cents per coin at the press time. Also, it has a market cap of more than $107 million.

ADA shows a 6% decline on daily chart | Source: ADA/USD on TradingView.com

Furthermore, Pavia landowners are more than 8,300. The data has it that the users were unable to deploy assets over their land on Monday. Caution documents from Pavia have warned customers that they can neither visit nor deploy content to the plots. This was due to the development stage of the land parcels.

More Craving For Metaverse Projects On Cardano

The emergence of Pavia on Cardano is during the period of incredible carvings for virtual parcels of land. Presently, the sale of virtual plots of land runs into millions of dollars on several blockchains such as Ethereum.

The value for land plats on Pavia runs as huge as 30,000 Cardano on CNFT, the Cardano NFT marketplace. This amount is equivalent to about $45,600 at the press time.

The Metaverse is recently getting more attention. It is a virtual world that provides people with unrestricted interactions like the real world.

This distinguishing factor is its digitalization of operations. The functionality of the Metaverse is attracting several firms as they intend to create their appearance on the platform.

One of the companies interested in the Metaverse includes Binance.US, developing on Portals, an office. Portals is a Solana-based metaverse project.

Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means

Also, Samsung, a global electronics maker, launched a metaverse brand of its New York City flagship store. This launching took place this January on Decentraland.

Featured Image From Britannica and chart from TradingView.Com

Posted on

Australian Football League Bags $25 Million Sponsorship Deal With Crypto.com

Sponsorship deals have become part of the measures that crypto-related companies employ in widening the knowledge and acceptance of cryptocurrency, one of the recent deals in the Australian Football League (AFL) and Crypto.com.

Most of these sponsorships have been on sporting teams, with more football and basketball.

This deal comes as the number 1 primary crypto sports sponsorship for AFL as this deal with Crypto.com will be backing its women’s league (AFLW).

The sponsorship deal, about $25 million, is expected to last for five years. It depicts an increase from the current $18.5 sponsorship contract AFL has with Toyota.

Related Reading | Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block

This Crypto.com partnership with AFL represents its first sponsorship for an Australian sports team. Also, it stands as the initiating move from the crypto exchange in supporting an elite women’s sports competition globally.

Reacting to the milestone created by the sponsorship, Kylie Rogers confirmed that she is proud to be a part of it.

The general manager said that the AFL is proud of receiving the honor as the first Australian Sports league and the global elite women’s competition to partner with Crypto.com. She stressed their excitement in working with a company with the same passion. And for the progress and sustainability of elite sports and technology.

Reason Behind Sponsorship Deal With Crypto.Com

Karl Mohan, the general manager of Asia and Pacific of Crypto.com, is on his part. He revealed that his company’s attraction came from the high volume of interested women in cryptocurrency.

Mohan stated that their latest research on their Australian customers revealed female investors in cryptocurrencies were over 53%. The general manager mentioned that such a discovery is quite encouraging.

According to Mohan, this indicates that crypto adoption in Australia cuts across all levels without any inhibition from either gender or background. So, Crypto.com is pleased to serve as their beck-on-call platform for any of their crypto-related activities.

In August, a survey from CNBC disclosed that women’s participation in crypto investments is far below half of their male counterparts. The report indicated that while 16% of men were involved, only 7% were recorded.

The Singapore-based crypto exchange, Crypto.com, provides many crypto services to its customers. These include digital wallets, crypto-backed debit cards, and others.

In addition, the crypto exchange has had several sponsorships deals from sports brands within the past few months which amounts to more than $1.5 billion.

Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means

Crypto.com, in June ending, bagged a $100 million sponsorship deal with Formula 1. This was followed closely with its July partnership with the UFC worth over $175 million.

Furthermore, mid-November saw the company with a new agreement of renaming the Staples Center in Los Angeles to the Crypto.com Arena. The deal worth over $700 million is expected to cover the next 20 years.

The total crypto market cap stays below $2 trillion | Source: TradingView.com
Featured image from Pixabay, chart from TradingView.com

Posted on

Crypto.com Adds Jon Russell As Asian Based General Partner

The Singapore-based company, Crypto.com, has hired the former TechChurch and The Ken reporter, Jon Russell as their Asian-based general partner. And with this new development, they hope to expand Fund further.

Crypto.com’s $200 million Web 3 fund came into existence in March 2012. As of Monday, intending to expand via the venture arm of investing in Series A stages, project at seed and crypto startups, has grown expectedly.

Russell, during an interview, made known that the fund is believed to rise to double its current size and will be announced in a few days.

Crypto.com is still hiring GP’s, but with the help of Russell, the fund’s acknowledgment will extend to that Asia-based project. Though Bobby Bao, Crypto.com co-founder, currently runs the fund.

Things To Know About Jon Russell

Jon Russell is a Uk citizen based in Bangkok. He has lived in Thailand since 2008. In 2014 Jon Russell became a reporter for TechChurch focused on all tech-related issues in Asia. Especially all the major names in India, China, and Southeast Asia.

Related article | Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack

With this, he changed the daily life of people across Asia. And his knowledge and influence in the tech and crypto field are precisely one of the reasons Crypto.com has hired him as one of their General partners in Asia.

Crypto.com Expansion in Asia

The Capital prior investment of Crypto.com comprises liquidity provider Woo Network and the first fractional-algorithmic stablecoin protocol Frax Finance.

VCs to allocate stock to the ecosystem regardless of the bear market. This leaves Sino Global Capital opening to outside investors through a $200 million fund and FTX ascertaining a $2 billion investment.

On June 17, 2021, Crypto.com was integrated into the biggest and most effective digital asset transfer network for institutions, Fireblocks Network.

And this helper, Crypto.com, reaches about 400+ institutional participants in their network, thereby helping them grow trading volume and global level. In addition, one of the largest banks in the Singapore region, DBS Bank, is now operating a crypto trading desk.

And recently, a majority stake in Thai cryptocurrency exchange Bitkub was amassed by Siam Commercial Bank (SCB), Thailand’s bank.

Innovation Officer Mukaya Tai and SCB 10x Chief Venture have proclaimed that she foresees world DeFi protocols have interposed banks. Huge institutional yearning for digital assets is quickly growing in Asia.

Related article | Largest DeFi Hack Yet? BadgerDAO Hack Results In Loss Of $120M+

Crypto has earned about 2 million transactions and USD 1 billion in TVL and spotlighting projects like VVS Finance and a couple of others. Moreover, Crypto.com motivated developers to build on Cronos via the Cronos Bounty Programme. It will grant USD 1,337,133.7 as the biggest reward and a Hackathon.

Featured Image From Twitter

Posted on

Thailand Government Disperses Confusion Surrounding Cryptocurrency Taxation

Before now, some countries have mapped out some crypto taxes for transactions on cryptocurrency assets within their jurisdiction. Thailand is one of the countries that proposes some taxation plans.

As the new year begins, the revenue department of Thailand is setting up its measures for implementing its tax plans on crypto traders this January. The move is to provide more clarifying information on the tax over crypto-related activities.

According to the director-general of the revenue department, this month will mark the finalizing of the criteria for tax calculations which will be on crypto trading profits. The statement’s release was one week following its government’s disclosed plans to levy crypto miners and traders with a capital taxation gain of 15%.

The total crypto market cap falls below $2 trillion | Source: TradingView.com

A Bangkok Post article on Tuesday reported the instruction of Prayut Chan-o-cha, the Thai Prime Minister, to the revenue department. He told the department to analyze the issue and map out the taxation plans for the investors and the entire public.

Related Reading | Upside Potential in NFTs is Massive Says, Gary Vaynerchuk

Following the Prime Minster’s instructions, the department has engaged the Bank of Thailand in a discussion. The talk is also the country’s Stock Exchange and Security and Exchange Commission.

Cryptocurrency Investors React On Taxation Plan

The Thai Digital Asset Association, while seeking clarifications, got in touch with the revenue department on Sunday.

A local media reports that the association seeks to know more concerning withholding taxes and capital gains. Suppakrit Boonsat, the President of the Association, stated that many cryptocurrency investors accept the taxation. However, their concern is making moves that may violate the Revenue Code.

Some traders are worried that there could be back taxation or penalties to trades and profits in previous years.

According to a spokeswoman from the government, the authorities are not posing any hindrance to industrial development and innovation with fintech included. However, she warned that a rush to accept crypto trading without a thorough understanding could lead to a crypto crisis.

Thailand intends to place its new taxation only on profits from miners and traders. In addition, there is an exemption of the country’s digital asset exchanges. With the largest affiliated with commercial banks and billionaire business tycoons.

Related Reading | January Proves Turbulent For Investors But NFT And GameFi Seems To Be Eating Good

According to the latest filing requirements, those that fail to comply with the rule will be heavilThethe move. In addition, they issued some warnings to individual businesses and commercial banks concerning adopting the country’s digital assets as pa through the movement options.

In December, through the move Bank of Thailand mentioned its plan of drawing out measures for regulating crypto-related activities. The regulation, which was tagged ‘Red Lines,’ will cover both businesses and individuals within the crypto industry.

Featured image from Pixabay, chart from TradingView.com

Posted on

Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack

The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack.

Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer.

An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else.

With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093.

Lympo Team To Fix Grudges

Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption.

Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action.

With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss.

Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that.

Another Crypto Hacking On Hot Wallet

Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange.

Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ.

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack.

Featured Image from Pexels

Posted on

Joe Rogan Holds High Hopes For The Cryptocurrency Industry

There have been several reactions and comment from prominent personalities about the trend of cryptocurrency from the beginning of 2022. The world’s most prominent controversial podcaster and comedian, Joe Rogan, has just expressed his ‘hope’ for digital assets. He made this confession during a recent podcast interview.

On January 8, Rogan, through the 1760th episode of his podcast ‘The Joe Rogan Experience,’ deliberated on the crypto future. This discussion was with Adam Curry, his fellow podcaster.

The estimated number of listeners for every episode of Rogan’s podcast is about 11 million. This is significantly high irrespective of the moves from Spotify in censoring some offensive episodes. Also, Rogan’s podcast bagged the top position of the most popular during 2021 on Spotify.

The world’s most prominent podcaster stated that cryptocurrency would either entirely fall or become an opportunity for sailing to a better future for human lives.

Curry stated that several young individuals are moving out on his part. Such moves could be for developing parallel networks and systems. He confirmed his loyalty to Bitcoin by stating that he’s on the BTC train to provide more security for his funds. He lamented the broken money system, causing misery, inflation, and even wars due to its link to oil.

Related Reading | How the CFTC fine on Coinbase could affect future crypto company listing

Curry has been the host of ‘No Agenda,’ a right-wing podcast that has received criticisms from the medical community and mainstream media. They believed that Curry has been promoting conspiracy theories.

Metaverse And Cryptocurrency Vision From Podcasters

The discussion between Rogan and Curry transcended to the potential of digital Metaverse that Silicon Valley controls. Also, they talked about NFTs and their role within the crypto space.

The crypto total market cap stays above $2 trillion | Source: TradingView.com

Rogan composed a theory for the future where firms could devise their digital tokens. Hence, buying their products will demand that customers utilize the tokens.

He cited that Apple could achieve that with ease. Rogan explained that the process would be first to buy the digital coins you will use to buy the company’s products. He said that the process is similar to stocks.

Reacting to that, Curry expressed his disagreement by saying that Rogan’s explanation is different from the plan. Instead, Curry stated that powerful governments and institutions are expected to focus on their Central Bank Digital Currencies, CBDCs.

He mentioned that individuals would have crypto tokens and wallets allocated from the Federal Reserve. Hence, retail banking will have little or no use.

Irrespective of the positive vibes from the podcasters in appreciating cryptocurrency, lots of crypto community members are pretty skeptical.

Related Reading | Did US Regulators Began Offensive Against Crypto Platforms? CFTC Fines Kraken

The two podcasters, Rogan and Curry, stand within the crypto space as being highly controversial. Rogan is famous for his kicks against ‘political uprightness. So, he had gained past criticism for his jokes that depicts racism, sexism, and transphobia.

Rogan received payment from CashApp in July 2021 to advertise Bitcoin to his listeners. Also, in November, he got $100,000 as a BTC payment.

Featured image from Pixabay, chart from TradingView.com

Posted on

Coinbase Chief Of Product Predicts Major Advances For Ethereum In 2022

Ethereum is one of the prominent blockchains in the crypto industry that established smart contract technology. This helped consolidate decentralized finance and checkmate third-party interference in cryptocurrency transactions. But in the past, its main challenge and setback were linked to scalability and speed in executing transactions.

As the months and years roll by, Ethereum is making tremendous progress in tackling scalability issues. This led to the rolling out of the layer-two version of the blockchain.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

With the new year’s kick-off, many individuals have shared their predictions and expectations for the crypto industry in 2022. Some of these individuals include investors, analysts, and industry leaders. Among the several comments comes the latest publish from Surojit Chatterjee, the Chief Product Officer of Coinbase.

Chatterjee predicts major advances for the scalability of Ethereum. Sharing his predictions on Tuesday through a company blog post, the CPO expressed his confidence in Ethereum. He mentioned that the blockchain’s scalability would push it ahead of Web3 and the crypto economy.

Ethereum struggles to rise again | Source: ETHUSD on TradingView.com

Furthermore, he was confident that there would be an improvement in Ethereum’s scalability. Also, he stated possible traction for alternative layer-one networks.

Further in his post, the CPO commented on the emergence of newer layer-one networks based on social media and gaming. He explained that advancing from layer-one to layer-two bridges will propel a vast improvement for scalability. Moreover, he anticipated a situation where the industry has a desperate search for advancement in speed and the utility of cross-L1 and L1-L2 bridges.

Benefits Of Cross-Bridges For Ethereum Scalability

Using these bridges will facilitate the easy transfer of tokens from a layer-one (L1) network like Ethereum to a layer-two (L2) network like Arbitrum. Also, it enables reverse transactions between the bridges.

For companies like Matter Labs, 2021 saw its tremendous advancement. The firm developed and deployed its layer-two platform based on zkSync rollup to achieve its great feat.

Generally, 2021 was a year of massive expansion for the layer-two ecosystem as all the major platforms have a surge in adoption. The tracker for layer-two ecosystems, L2beat, reports almost an 11,000% increase in total value locked for the past year. This brought the value by 2021 to $5.5 billion against $50 million by January 2021.

Concerning scaling technologies, Chatterjee picked out zk-Rollups as he mentioned their attractive capacity for users and investors. He explained that the scalability of Zero-knowledge compiles transactions data in batches. This will enable efficiency in their processing on L1 of Ethereum.

Furthermore, Coinbase CPO foresees the emerging of more privacy-focused applications. However, he mentioned that it would lead to more attention from the regulatory bodies since there are enforced restrictions through KYC and Anti-Money Laundering (AML).

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Chatterjee has other predictions, including increased industry regulations, more DeFi insurance, and more institutional involvement in DeFi. Others are shifts to Web3 by Web2 companies, more brand participation in metaverses, and non-fungible tokens (NFTs).

Featured image from Pexels, Charts from TradingView.com

Posted on

Binance Backs WOO Network With A $12 Million Strategic Investment

Binance is the largest exchange platform in trading volume within the crypto industry. Through its user-friendly interface, the exchange has over 20 million users. In addition, the platform supports several cryptocurrencies that would boost an investor’s portfolio.

In its move to enhanced performance and services to customers, Binance has a strategic investment of $12 million through its venture capital arm. The investment is in a liquidity platform, WOO Network. This liquidity platform connects users to exchanges, DeFi networks, and other institutions.

Binance Labs, which kicked off in 2017, has committed relationships through early-stage investments in several companies.

Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K

Some include DoraHacks, the hackathon organizer, and LayerZero, an interoperability start-up. Also, Binance took part in bigger fundraising rounds like the $10 million Series C fundraising round for Figment, a crypto staking company. Thoma Bravo was in the lead of this fundraising project.

Through a press release, Binance Labs Investment Director Peter Huo put forth his reactions to the company’s investment. First, he acknowledged WOO Network’s remarkable impact on the entire crypto ecosystem using its features and functionality. Also, he mentioned the Network provision of zero-fee trading through on-chain and off-chain and deep liquidity.

Furthermore, Huo expressed his company’s excitement through its long-lasting relationship expansion. The Binance Director commented that the company uses the investment to explore its collaborations further.

Binance Invests in WOO Due To Impressive Growth

WOO Network supplies liquidity to over 40 exchanges, institutions, wallets, trading teams, and other DeFi applications as a liquidity platform. In addition, the network boasts some outstanding products such as the WOO Trade and WOO X.

WOO falls by 6% in the last 24 hours | Source: WOOUSDT on TradingView.com

The WOO Trade is a platform institutional investors use for their crypto transactions. On the other hand, WOO X focuses on retail by combining deep liquidity and zero-fee trading.

The services of WOO Network for liquidity provision on Binance Smart Chain commenced last year with WOOFi Swap launching. The WOOFi Swap employs both the market-making technique from the institution and the network’s liquidity to reduce slippage and enhance pricing.

Moreover, other decentralized protocols get their liquidity supplies from WOO Network. Such DeFi projects include Matcha, DYDX, DODO, ParaSwap, and 1inch.

Related Reading | President Bukele Predicts BTC At $100k With Hope That More Countries Adopt It As Legal Tender

The Series A fundraising round of WOO Network in November 2021 closed with a whopping amount of $30 million. The fund inculcates investments from Bit Torrent, Avalanche, Three Arrows Capital, and Crypto.com.

According to CoinGecko, WOO tokens have made a price hit of a 10% increase within the last 24 hours. Also, the Network recently recorded a market cap of about $1 billion.

Featured image from Binance, Charts from TradingView.com

Posted on

Melania Trump Congratulates Bitcoin On 13th Anniversary Of Bitcoin Genesis Block

Cryptocurrency and Bitcoin investors spread to almost every sector and among different personalities. With the increase in the adoption of digital assets, most people are joining the investment train to reap enormous potential growth. Celebrities and government officials from both past and present governments globally are not left behind.

The former US first lady, Melania Trump, just gave her congratulatory message to Bitcoin on its 13th birthday. A little after launching her personal ‘nonfungible token (NFT)’ in December 2021.

Related Reading | Ripple Had Its Strongest Year Ever Despite The Sec’s “Attack On Crypto”

Mrs. Trump released her message through Twitter on Monday to the world’s largest digital asset as it celebrates its 13th anniversary.

The past first lady remarked on Bitcoin’s market cap, over $1 trillion in her message. Then, she wished the Bitcoin Genesis Block a happy celebration on its anniversary.

Reactions To Former First Lady’s Bitcoin Applause

Mrs. Trump’s tweet has received over 8,000 retweets and 30,000 likes in the press. Furthermore, the post has attracted reactions from the cryptocurrency community. This includes the likes of Anthony Pompliano, the Co-founder of Morgan Creek Digital. Pompliano envisaged that the former first lady is likely a Bitcoiner or connected with the BTC industry.

From the CoinGecko records, BTC has a market cap of about 880 billion at the press time. Moreover, the digital asset last got a market value above $1 trillion as of the beginning of December 2021.

Bitcoin remains low on the daily chart Source: BTCUSD Tradingview

More reaction on the former first lady’s post outlined some anti-BTC comments from her husband, former US President Donald Trump.

Some retweets recalled how former President Trump consistently slammed Bitcoin. He vehemently took his stand as an anti-Bitcoin fan and other cryptocurrencies. He mentioned that due to the high volatility of the cryptocurrency value, it is a scam based on thin air.

Besides BTC, former President Trump lashed on Facebook Libra, predicting less dependability and stability for the digital currency. He stated that if Facebook desires to operate a bank, it should follow the recognized and regulatory procedure.

One of the Twitter observers, while comparing the different actions of the Trump couple, posted the entire scenario to be a ‘cryptic divorce announcement.

Related Reading | XRP Builds Momentum With 7% Increase As Ripple Launches New ODL Partnership

Before now, Mrs. Trump officially publicized December 2021, her nonfungible token (NFT) platform. However, she equally laid down her foremost digital collectible known as Melania’s Vision.

From the former first lady’s official website, Solana blockchain handled her NFT sale. Also, the sale auction will be concluded on Friday.

Featured image from Pexels, charts from TradingView.com

Posted on

Grayscale Removes Bancor (BNT) And Universal Market Access (UMA) From Its DeFi Fund

The Grayscale Investment manager undertakes another phase of balancing its Grayscale DeFi fund. This round of rebalance inculcate the adjustment of the project’s Digital Large Cap Funds. This move marks its second balancing process after its launch in July 2021.

An announcement on January 3 revealed the in-depth adjustments to Grayscale’s two funds. The first rebalancing employed the Flexa payment network’s native collateral coin.

Related Reading | Could Kazakhstan Turmoil Cause Another Bitcoin Hash Crash?

Hence, Grayscale DeFi Fund’s weighting was rebalanced with the addition of AMP. Conversely, the rebalancing process led to the removal of Universal Market Access (UMA) and Bancor (BNT).

Though Grayscale created some adjustments to its funds’ weightings, the Grayscale Digital Large Cap Fund (GDLC) suffered no alteration to its token list. According to Grayscale’s announcement, the rebalancing process is the time to include AMP within a Grayscale investment vehicle.

Using its native token, Flexa can collateralize crypto payments and engage in fiat settlements. Thus, merchants and other users could quickly receive cryptocurrencies without delays.

Significance Of Grayscale Rebalancing Process

Following this second rebalancing process, the addition of AMP brings the number of crypto assets within the Grayscale DeFi Fund to nine in the DeFi ecosystem. Also, the alteration to the Grayscale Fund reflects the changes on the DeFi Index (DFX) of CoinDesk. Among the components of crypto assets that made the Fund, the highest weighting goes to Uniswap (UNI) with 42.33%. The newly added AMP takes up 7.39% of the Fund’s weighting.

Having its popularity as Grayscale Bitcoin Trust, Grayscale now has about $30.1 billion assets under management (AUM). The share trading at $34.27 shows a 23% up from July 14, 2021, and a 59.16% up within the last 12 months.

The share price of Grayscale DeFi Fund at the press time is $5.56. This depicts an 11.2% rise from its launch price of $5 on July 14, 2021. Moreover, the Fund’s assets under management as of its launch period were $11.6 million with a share outstanding of 2.08 million.

Related article | Only In Crypto: A Croissant Breaks Down How GameStop & NFTs Will Boost Ethereum

The ‘s performanceGrayscale Bitcoin Trust’s performance and its DeFi Funds is highly above the DeFi Pulse Index (DPI), which is the biggest retail DeFi Index based on the market cap from July 14. However, despite the huge trading volume of the DPI, it still indicates a dip of about 2% within the same interval.

Bitcoin continues to drop | Source: BTCUSD on TradingView.com

Among all spot Bitcoin ETFs and Corporations, Grayscale possessed the most significant upsurge of BTC holdings through 2021. By the end of the year, the Fund accrued 645,199 BTC. This explains 71% of the corporate market and spot ETF BTC holdings.

Featured image from Pexels, Charts from TradingView.com

Posted on

Five Best Meme Cryptocurrencies To Keep An Eye On In 2022

Meme tokens are cryptocurrencies with increased popularity within a short period. The remarkable acceptance of this type of cryptocurrency comes from the activities of retail investors or influencers. As a result, the meme cryptocurrencies have experienced tremendous growth throughout 2021. This explains the new market capitalization of the coins, which is more than 43 billion.

The meme cryptocurrencies are gaining more adoption in different sectors, of which Dogecoin and Shiba Inu are the top tokens with astronomical increases. In addition, some companies like AMC Theatres, Guaranty Escrow, EasyDNS, and others now accept Dogecoin for payment.

Related article | Only In Crypto: A Croissant Breaks Down How GameStop & NFTs Will Boost Ethereum

Here are some of the meme tokens you can include in your digital portfolio.

Dogecoin (DOGE)

Dogecoin has taken the lead is the top and most profitable meme coin for your investment. With the influence of Elon Musk, the CEO of Tesla and SpaceX, Dogecoin, witnessed significant growth in 2021. Furthermore, the billionaire CEO, Musk, announced in December 2021 that Tesla adopted Dogecoin as one of the payment options.

Besides Tesla, other companies are interested in this fast-growing dog-themed meme coin. For example, AMC Theatre, one of the prominent theatres with the most significant number of branches, indicated its acceptance of DOGE as a payment method.

DOGE currently is facing a dip | Source: DOGEUSD on Tradingview.com

The move of this number meme token has put its market cap at 22.7 billion while its price at the time of writing is $0.1582 showing a dip of 7% within the last seven days. Dogecoin had its all-time of $0.73 on May 3, 2021. Analysts predict that this meme coin will hit $1 in a few months from its price performance.

Shiba Inu (SHIB)

Shiba Ina Coin has made a remarkable increase making its way to the top ten cryptocurrencies. SHIB stands as one of the top meme tokens for profitable investment with its price performance.

SHIB follows a downward trend | Source: SHIBUSD on Tradingview.com

It has competitively raced with Dogecoin to emerge as ‘the most searched cryptocurrency for 2021’. Coinmarketcap gave a record of more than 188 million views for Shiba Inu as the top as Bitcoin follows behind it with about 145 million views.

This meme coin has a market cap of over $18.2 billion. Its price at the time of writing is $0.000033, indicating a dip of 2.19% within the last 24 hours. Shiba Inu hit an all-time high of $0.00008 in October 2021.

Dogelon Mars (ELON)

Dogelon Mars is derived by joining Dogecoin and Tesla’s billionaire CEO, Elon Musk, promoted Dogecoin. As a result, this meme coin has risen to be number 3 meme tokens and stands as an excellent investment means for profit.

ELON stays in red zone | Source: ELONUSD on Tradingview.com

By following the steps of Dogecoin, Dogelon Mars has become one of the top meme coins that are highly sought for. Some crypto exchanges such as Huobi, Gemini, Crypto.com now support the meme coin on their platforms.

The dog-themed coin boasts a market cap of about $869 million. Its price is $0.000001328 showing a drop of 5% within the last 24 hours at the time of writing.

Samoyedcoin (SAMO)

Samoyedcoin shares some similarities with the Solana Network. However, the meme coin enables high scalability, speedy transactions, and low fees.

Samoyedcoin loses ground as BTC fall | Source: SAMOUSDT on Tradingview.com

Furthermore, the meme coin ensures scarcity through its token burns three times from its launch time. The last destruction in November 2021 resulted in the burning of up to 500 million SAMO tokens.

This meme coin has a market cap of about $124 million. At the time of writing, SAMO is $0.03174 showing a drop of 3.36% within the last 24 hours.

MonaCoin (MONA)

Created in December 2013, Monacoin operates as an open-source p2p network.

MONA attempts to rise | Source: MONAWETHon Tradingview.com

This meme coin was developed in Japan as the first altcoin. It later boomed after being used in an advert for buying land in Nagano.

Related article | Why was 2021 an important year for NFT?

Monacoin currently has a market cap of about $77 million. Its price at the time of writing is $1.11, with a 1.95% dip within the last 24 hours. The meme coin had its all-time high in 2017 and is considered one of the investment tokens to boost your profit.

Featured image from Pexels, Charts from TradingView.com

Posted on

Floki Inu To Feature Its Logo On S.S.C. Napoli’s Match Stadium And Jersey

The popularity and influence of digital assets keep surging as different sectors keep sticking to them. Among other mainstreams involved in cryptocurrency, the sporting portals and industry as a whole are not left out.

Recently, S.S.C. Napoli, an Italian football giant, signed a Floki Inu (FLOKI) token sponsorship deal. This deal will enable the cryptocurrency to feature its logo on both the team’s jersey and stadium.

Founded in 1926, S.S.C. Napoli is among the prominent and leading Italian professional teams. In 1987, Diego Maradona, the legendary football icon, led the team to its first victory in Serie A title. Presently, the group maintains the first position in the 2021-2022 league session.

The route of Floki Inu in football partnership with clubs has a similar trend as that of FTX, a top crypto exchange. The latter made numerous partnership involvements with sporting clubs this year.

Related Reading | Bitcoin Mining Firm Argo Blockchain To Raise $57.5M Via Senior Notes Offering

Through this recent sponsorship deal, Floki Inu just included Napoli to its football clubs’ list. The Cadiz in Spanish La Liga and the Kerala Blasters in the Indian Super League are other clubs on the list.

Also, earlier in the month, Floki Inu completed an endorsement deal with Tyson Fury, a boxing star. The terms included a promo to feature the two-time world heavyweight champion in Floki’s upcoming NFT play-to-earn game, Valhalla.

FLOKI trading in the green | Source: FLOKIUSDT on TradingVieew.com

An announcement from the football team on Tuesday disclosed the featuring of the Floki Inu logo at the back of the team’s jerseys. Also, some LED signs within Napoli’s home stadium will display the logo, serving as a reminder of the ongoing league session. The logo will comprise a Shiba Inu dog that wears a Viking helmet.

One of Napoli’s supporters, Jay Cassano, expressed his excitement about the sponsorship and the club’s involvement with cryptocurrency. He mentioned that such partnerships create the right pathway for increased mainstream adoption of cryptocurrency. He recalled the recent interest from some crypto firms on sports teams.

 Floki Inu Sponsorship Terms Still Unknown

There’s still no disclosure of Napoli specifying if the sponsorship is a multi-year deal. Also, the amount that Floki Inu invested in the deal is still unknown.

However, the marketing department of Floki Inu acknowledges in the announcement the company’s move as part of the project’s goal. This was to push the cryptocurrency as the global most used and known digital asset.

Since last September, the Floki team has maintained a high marketing push for the project’s promotions. The team has about $1.5 million in allocations for its campaigns on adverts.

Related Reading | Bitcoin Mining In The U.S.: 4 States Attract The Most Miners

One of its key target locations is London, as it features its branding through several transportation services within the city. However, the advertising move created controversies by attracting the Advertising Standards Authority (ASA), the country’s advertising regulatory agent.

BBC’s Friday report revealed that ASA had commenced a review of Floki’s ads. This will help the watchdog to ascertain if the firm broke any advertising rules. On its part, the Floki Inu team insists that its ads had legal clearance with disclaimers.

Featured Image GameRevolution