Connect with us

Blockchain

DefiPulse Reveals $4B of Total Value Locked is DeFi Markets

Avatar

Published

on

Rate this post

DefiPulse, a huge site that gives regular crypto insights and analytics has recently revealed data regarding DeFi. As per the website, currently, there is $4 billion of the total value which is locked in the DeFi markets. This increase in total locked-in value is clearly indicating that the DeFi industry is growing rapidly.

DefiPulse claims MakerDAO holds 30% of DeFi market

In short, DeFi simply means the integration of digital assets, blockchain, and smart contracts in financial services. It provides financial services like credit and lending without any intervention of any central authority. 

As per the data, this $4 billion is now locked in across the decentralized applications, smart contracts, or other DeFi protocols. DefiPulse has also specified that around 30% of the total DeFi market has been acquired by MakerDAO. DAI stablecoin of MakerDAO is holding this share in the DeFi market among all other DeFi projects. 

DeFi applications correlated with Ether price

As the DeFi market is seeing rapid growth, it has been seen that the price of Ethereum has also seen a rally recently. Currently, the price of Ethereum is at $356 which has been increased by around 7% in the past 24 hours. 

Earlier it has also been reported that there is some sort of correlation between Ethereum and DeFi applications. Even though both are not dependent on each other completely, it is quite evident that whenever there is any kind of movement in Ethereum, it is contrasted with DeFi applications. 

Recently another crypto analytics firm called Messari has also revealed data. It has specified the total share of the DeFi sector in crypto capitalization. According to the firm, the DeFi sector is holding 1.5% of the total crypto capitalization. Through this, it is quite clear that even though the sector is performing really well, it still holds a very less share in total capitalization.

Articles You May Read.

Source: https://www.cryptoknowmics.com/news/defipulse-reveals-4b-of-total-value-locked-is-defi-markets

Blockchain

GREENHEART PUNT APPROVED FOR LISTING ON LEADING GLOBAL CRYPTO EXCHANGE DIGIFINEX

Avatar

Published

on

Greenheart PUNT approved for listing on leading global crypto exchange DigiFinex  

Greenheart PUNT, the new sustainable Defi token led by Greenheart, is delighted to announce that the PUNT token has been approved for listing on the leading Singapore digital exchange DigiFinex.

DigiFinex is a Top 12 global crypto exchange and regularly trades in excess of $2 Billion dollars per day in volume and liquidity. The exchange trades approximately 200 leading coins and has over 4 million customer accounts – of which 800,000 are active daily users.

The listing on DigiFinex is in addition to Greenheart PUNT’s initial (December 1st) listing on the LAToken exchange and is designed to maximize liquidity and trading volume for PUNT token holders and investors.

The Greenheart PUNT token is scheduled to begin trading on DigiFinex on Wednesday 2nd December 2020.

Greenheart was founded two years ago in Ashbourne, County Meath, and was formed two years ago by childhood friends Mark Canavan and Paul Walsh. The company produces a full range of sustainable oils – and shortly – edibles and balms for the retail market. Although Greenheart only began selling its oils in January 2020, it already has over 1,500 customers, a customer return rate three times the industry average and over seventy trusted 5-star reviews on its website.

Before launching Greenheart, Paul and Mark spent years researching extraction methods to produce the most effective agricultural products, for the end consumer with full traceability from seed to shelf. The company is the first sustainable producer in its market to use the full scope of cutting edge technology in its cultivation and production. This includes Big Data, Artificial Intelligence (AI), Machine Learning, and Blockchain technology at each stage of the planting, harvesting, production, and retailing process.


Greenheart Punt Token 

The Greenheart Punt token is being backed by a real commodity – 1,000 liters of Greenheart’s oil in year 1 (with a retail value of $4 million US dollars) – allowing token holders to redeem their tokens directly for Greenheart oil.

The company also plans to continue deploying pioneering sustainability technology and cold press extraction, while also launching an Innovation Centre to teach farmers and the wilder public about the benefits of growing hemp and sustainable crops in Ireland.

 

 

Continue Reading

Blockchain

Ripple XRP’s Skyrocketing Price Performance Is Attributed to One Key Factor, Says Blockchain Analytics

Avatar

Published

on

Ripple’s XRP token has been all the rage lately, making headlines left and right due to its relentless surge in the past week. Currently, its price has pulled back slightly, but the bull run and the talks revolving around XRP have benefited Ripple overall.

Ripple (XRP) depicted in the sky to signify its price surge

At the time of writing, Ripple’s XRP price has pulled back, down 30% on CoinMarketCap in the last 24 hours. However, blockchain analytics provider Santiment has asserted that XRP has excelled in one key area. Social discussions revolving around Ripple has escalated, especially lately.

The Ripple (XRP) effect 

For the first time since April, Ripple may have pinned investors’ interest more than Ethereum (ETH), according to behavior analysis charts. Ripple has been talked about and discussed more than Ethereum lately, and this may be significant since it may indicate that market sentiment around XRP is growing stronger, potentially surpassing Ether (ETH) as a preferred digital asset investment. Per the announcement:

“The daily social volume (mentions on #crypto platforms) of $XRP is on the verge of surpassing $ETH for the first time in 7 months. This crossover would be significant, as it signals change in interest level between the two assets, regardless of positivity.”

Santiment blockchain analytics chart

 Source: Santiment via Twitter

According to the chart illustrated above, which displays Bitcoin, Ethereum, and Ripple by social volume, or popularity, Ripple has captured increased investor interest and this digital asset may soon be mentioned more than Ethereum. The purple line is an indicator of Ripple’s social volume, with the orange one and blue one representing Ethereum and Bitcoin respectively.

The development of XRP Ledger, the underlying distributed ledger technology backing XRP, has increased in activity by five-fold, compared to 18 months ago.

Ripple’s price has gained new heights

Ripple’s social volume, as well as the technology company’s new projects, have coincided with the XRP token’s rise in price. According to CoinMarketCap, XRP gained by nearly 140% in a month. Its rise in price has been said to be influenced by many factors, per market experts.

In just a week’s time, Ripple’s XRP token outperformed both Bitcoin and Ethereum on the market, as it regained its position as the third-largest cryptocurrency by market cap, after previously having been unseated by Tether (USDT).

A stellar performance by XLM

XRP is not the only altcoin that has been outperforming lately. Recently, Stellar Lumens (XLM) recorded gains of over 155% in a week, as it went through a protocol update. This was implemented by validators on the network and will provide a more seamless experience for users on the Stellar network.

Stellar Lumens is a modified fork of Ripple. It was also initiated by one of Ripple’s co-founders, Jed McCaleb. Similar to Ripple, Stellar also operates as a payment technology designed to connect financial institutions and improve cross-border payments through lower costs and improved time efficiency.

Ethereum has something up its sleeve too

With Bitcoin’s recent bull run driving altcoins higher, who is to say whether or not Ripple may surpass Ethereum in terms of investment popularity in the long run. Currently, Ethereum awaits the launch of ETH 2.0 mainnet, which is less than a week away. With the new blockchain segment implemented on December 1, its native cryptocurrency Ether may increase in value.

Image source: Shutterstock Source: https://Blockchain.News/news/ripple-xrp-skyrocketing-price-performance-attributed-one-key-factor-blockchain-analytics

Continue Reading

Blockchain

How Charities Adapted to the Crisis and Made Donations ‘Smarter’

Avatar

Published

on

Many philanthropic organizations initially suffered due to the cancellation of in-person donations. However, the initial pause in traditional donations caused by the pandemic was seemingly momentary, as charity donors began shifting to crypto donations.

Major fundraisers across the United States had to be cancelled, causing them to lose massive amounts of tickets and revenue that would have been generated by the events. Organizations backed by government contracts feared the repercussions of the epic loss once the fiscal year ended. Furthermore, the need for social services like food banks were outpacing revenue. 

Officials of Eve’s Place — a non-profit that provides empowerment-based programs to victims of domestic, sexual, and teen dating abuse — had to shut down their annual charity event when the nation was placed on lockdown, and needed to find a way to counteract the loss of revenue.

Initially, the thought of welcoming digital currency had been a conversation that arose but was not considered a high priority until the lockdowns happened, sending their fundraising initiatives to a screeching halt. Then the organization received a generous $65,000 donation in cryptocurrency.

Charities are now proliferating, having adapted to the crisis and evolved their methods by accepting cryptocurrencies, because fiat is by no means the only option.

Since adapting to the current climate, there has been momentous progress in adopting cryptocurrencies and blockchain technology in the philanthropic sector by some governments and intercontinental organizations.

Overflow, an organization that helps charities accept online donations of publicly-traded stock, told BeInCrypto that it sees non-cash asset donations continuing to grow, noting the changes that have taken place this year:

“As a stock donation platform, one significant change that we noticed is that stock gifts tend to be much larger than cash donations. Compared to traditional donation platforms, we’re seeing a higher average gift per person — $2,150 vs $128 — which shows that people are much more generous when they donate stock instead of cash.” 

It’s no longer thought of as a “fringe” method of support, but is evolving into a donation method that is becoming more mainstream. In January, Deutsche Bank reported predictions that there will be 200 million global crypto users by 2030, with the crypto hardware wallet industry anticipating a continued growth by an annual 25 per cent.

Blockchain facilitates donors to view and analyze the migration of their donations, from the moment it was given to the instance the charity spent it, which purportedly safeguards a greater element of transparency and eradicates the possibility of misreporting.

The beauty of digital currencies is that it ostensibly has shown resilience during the pandemic when social-economic conditions have negatively affected nearly all facets of the natural rhythm of things. Because of its borderless, neutral nature — not to mention its ability to transcend censorship — crypto has an all-inclusive choice for use in philanthropic enterprises. 

Global crypto donations are rising

According to the Global NGO Technology Report, which interviewed over 5,000 non-profit organizations around the world, digital currency donations represent 2 per cent of payment methods used in the US and Canada, which is up by 1 per cent from the previous year. It was also found that they reach 5 per cent in Africa, 4 per cent in Asia, 2 per cent in Australia and Europe, and 1 per cent in Latin America.  

The expansion of digital currency donations, which also encompasses both bitcoin (BTC) and altcoins, is something worth mentioning. In 2018, this form of payment reportedly covered 1 to 4 per cent of donations, while this year alone it has advanced intercontinentally, reaching up to a 100 per cent increase in contrast to the previous amount in the US, Europe and Australia.

Overflow explained from their experience which is the most popular way to donate, saying:

“After cash, some of the most common ways to give are stocks and Bitcoin. Donating stock and Bitcoin can drive significant tax savings and since donors are becoming more and more tax-savvy, stock and crypto donations are also becoming more popular.”

While these payment methods remain the least used in comparison to digital wallets such as Paypal, credit and debit cards, cryptocurrencies are gaining momentum.

Benefits with tax implications

For non-profit organizations, crypto donations come with a variety of perks that go beyond the most obvious, i.e. revenue — more precisely, it is another source of revenue that supersedes dollar bills. 

Even though cryptocurrency is taxable by the Internal Revenue Service (IRS), it isn’t regulated by the Federal Reserve, nor by the stock market and other platforms fiat performs on. Accepting cryptocurrency contributions could keep non-profit organizations from sinking, possibly protecting a layer of protection against the fluctuation of traditional markets.

However, most laws that apply to other assets do apply to BTC. This means people are still accountable to tax laws, though BTC and altcoins are normally considered an intangible personal property as opposed to being thought of as currency. Therefore, they are not generally recognized as legal tender in the US or most other countries. 

The IRS explains that if the charity is recognized under IRS rules, crypto donations will not result in income, gain or loss, and thus crypto is treated as other capital assets, including stocks. Elaborating on the issue, Overflow said:

“Consider non-cash contributions to drive more tax savings and make a bigger donation to a non-profit of your choosing.”

More money goes to non-profits due to low-to-nothing processing fees. Receiving crypto donations ultimately means that more money ends up with the organization, and less ends up in taxes.

The element of transparency is revolutionary in many ways. Blockchain enables ordinary people to trace the movement of money, and makes it insusceptible to tampering without somebody noticing, as the flow of crypto is open to all eyes, without third party involvement.

Even though blockchain meticulously keeps track of transactions. The beauty of the technology is that the specific personal identities of individual crypto holders is not a necessary component in transactions.

The unique characteristics of cryptocurrencies are quite attractive, such as a layer of anonymity within a decentralized arena, which provides the opportunity to curtail banks and government regulations, which have no power over the digital currencies, since they are not regarded as legal tender.

When non-profits meet crypto

Bitcoin, as well as other digital currencies, have even begun assuming leading roles in facilitating payments that are not associated with banking systems. 

For example, Bail Bloc founder Rachel Rosenfelt launched a unique charity initiative to employ monero (XMR) mining to give underrepresented and undocumented immigrants a better opportunity at fair treatment in the US courts. 

The initiative allows the project to collect XMR to help individuals avoid pretrial incarceration for cases involving US Immigration and Customs Enforcement. Unlike traditional charity initiatives, Bail Bloc isn’t focused on utilizing the usual means to finance a charity operation, but rather the computer processing power of those who participate.  

Earlier this year, Irvine Valley College began accepting cryptocurrency donations, which put them among the first colleges that can accept donations through BitPay, a Bitcoin payment solution. Since 2017, BitPay has reportedly managed over $50 million in donations.

As per Alex Wilson, a co-founder of charity-related startup The Giving Block, “universities have received some of the largest cryptocurrency donations in the non-profit sector; however, not many universities accept Bitcoin or other cryptocurrency donations yet. According to a Coinbase study, 56 per cent of the top-50 universities now have at least one course on blockchain or cryptocurrency.”

Wilson revealed that the project has seen hundreds of millions of dollars worth of crypto donated to non-profits over the last few years, with a large portion going towards universities.

GiveTrack is another blockchain-fueled project that is supported by Bitcoin non-profit organization BitGive. It was created with the precise goal to empower donors with the ability to follow transactions on a public platform in real time, providing total transparency for donors to know where their money is going. 

Earlier this year, BitGive announced that they had partnered with Direct Relief, GiveDirectly, and One Fair Wage Emergency Fund in an effort to collectively leverage blockchain technology in administering financial assistance to individuals impacted by the pandemic.

The initiative dubbed the BitGive COVID-19 Emergency Relief Fund works to provide personal protective equipment for medical professionals, financial help to individuals, whose employment was impacted, as well as global funding for people in need.

The American Red Cross is one of the biggest and certainly most identified humanitarian organizations, and has been accepting BTC donations since 2014. This opened up the doors to allowing charity givers more flexibility in their opportunities to contribute.

Though the American Red Cross has been accepting BTC donations for a while now, earlier this year, the Italian Red Cross announced that they would also now be accepting BTC donations to raise relief funds for individuals impacted by the pandemic. All donations received from the enterprise will reportedly be utilized to establish a second-level advanced medical post.

In 2019, the International Children’s Emergency Fund (UNICEF), which is an agency of the United Nations, launched an experimental crypto fund, empowering the organization to accept contributions in BTC and ether (ETH). The organization is tasked with the responsibility of rendering humanitarian and developmental assistance to children and young people around the world. 

The first donation received by the UNICEF came from the Ethereum Foundation, which gave somewhere around $150,000 worth of BTC and ETH to UNICEF, in October 2019. Then, in January 2020, Ethereum Classic Labs donated $1 million dollars to the non-profit. UNICEF executive director Henrietta Fore said, at the time: 

“The creation of our Cryptocurrency Fund is a significant and welcome step forward in humanitarian and development work.”

The future of philanthropy

“Due to the rise of the stock and crypto markets, we believe that philanthropy will become accessible to everyone. In the past, philanthropy was mostly popular among high net worth individuals, while now more and more people are turning to charitable giving to support the causes and charities they are passionate about,” Overflow offered the projection, conceptualizing the future of philanthropy.

The company further listed three main reasons why the philanthropy world started changing so rapidly:

  • Millennials are more socially aware than the prior generations as they grew up in the age of digital and social media. As a result, donating to charity makes people feel more connected to their communities and gives them a higher sense of purpose.
  • It is now possible to make donations online and choose from numerous donation types, such as cash, stocks and cryptocurrencies. An abundance of donation options is making philanthropy accessible to people of all income brackets and asset classes.
  • People are becoming more aware of the significant tax benefits that charitable donations can drive. Charitable giving is becoming a popular way for people to support their favorite causes and save on taxes.

Speaking about how to make donations “smarter,” Overflow said that there are several strategies that can help people maximize their impact as well as their tax deductions. According to the organization, it is necessary to “always check whether your company offers a matching gift program. This way, you’ll be making two donations instead of one!”

Overflow continued, saying:

“Imagine a scenario in which you sell your securities first and donate the proceeds to a non-profit. After selling the stock, you will have to pay a capital gains tax, which can be anywhere from 15 per cent to 20 per cent depending on your tax bracket. As a result, you will end up paying a massive tax and making a donation that is 20 per cent less than you would have made had you donated your securities directly to the charity.”

“Always research the organization you’re supporting. It’s important to know how your donations will be used and what portion of the non-profit’s budget is going towards their charitable programs. One of the most transparent non-profits we know is the New Story Charity that separates all donations for their home building programs from any operational expenses.”

The world has changed, and is changing. While the future at this juncture in time still remains uncertain, innovators around the globe have pushed the envelope, so to speak, escalating yesterday’s technological limitations, breaking barriers and opening up the door to new possibilities. So that life can continue moving forward undeterred, while we experience what appears to be a new era in innovation.

Share Article

Jesse McGraw is a writer, information security researcher, and a prison reform activist. He is also a former black hat hacker and founder of the hacktivist group known as the Electronik Tribulation Army. He is also known by the moniker “Ghost Exodus.” He has holdings in stocks and in Bitcoin, but nothing worth writing home about.

Follow Author

Source: https://beincrypto.com/how-charities-adapted-to-the-crisis-and-made-donations-smarter/

Continue Reading

Blockchain

Coinbase Refutes Upcoming NYT Racial Discrimination Story

U.S. crypto exchange giant Coinbase may once again be in the news for a social engineering-related issue related to claims of racial discrimination in the workplace. Never far from controversy, the company may once again be at the center of a politically-charged issue. Coinbase Racial Bias Story Unsubstantiated According to Coinbase, The New York Times … Continued

The post Coinbase Refutes Upcoming NYT Racial Discrimination Story appeared first on BeInCrypto.

Avatar

Published

on

U.S. crypto exchange giant Coinbase may once again be in the news for a social engineering-related issue related to claims of racial discrimination in the workplace.

Never far from controversy, the company may once again be at the center of a politically-charged issue.

Coinbase Racial Bias Story Unsubstantiated

According to Coinbase, The New York Times (NYT) plans to publish an article that paints the crypto exchange in a bad light on issues concerning racial discrimination. The platform shared an internal email sent to employees on Nov. 26 pre-empting the story while attempting to address the issues at hand.

The New York Times is reportedly going to publish a story about the alleged mistreatment of some black ex-employees of the company.

According to Coinbase, the NYT story will allude to discriminatory practices at the firm.

An excerpt from the email reads:

Overall, we expect the story will paint an inaccurate picture that lacks complete information and context, despite our best efforts to fact-check details of the story with the reporter. That said, we know the story will recount episodes that will be difficult for employees to read […] No organization is ever as perfect as the media suggests in the most glowing article, or as bad as the media alleges in the most negative article.

Reacting to these allegations, Coinbase says the complaints captured in the upcoming article were previously investigated by the company. Inquests by two different external investigators also reportedly deemed the alleged racial discrimination claims as having no substance.

Coinbase also affirmed its zero-tolerance policy for harassment and discrimination while adding that it is committed to promoting inclusion and diversity in the workplace.

Navigating Social Issues

Back in September, Coinbase caused a stir in the crypto space when its CEO Brian Armstrong announced an apolitical stance for the company. For Armstrong, Coinbase eschewing social activism was a reinforcement of the company’s focus on the crypto business.

The exchange also offered an exit package for employees not in alignment with its zero-politics policy. Shortly after the announcement, about 60 staff members departed the company with other crypto firms reportedly rushing to snapping up these free agents.

Share Article

Osato is a reporter at BeInCrypto and Bitcoin believer based in Lagos, Nigeria. When not immersed in the daily happenings in the crypto scene, he can be found watching historical documentaries or trying to beat his Scrabble high score.

Follow Author

Source: https://beincrypto.com/coinbase-refutes-upcoming-nyt-racial-discrimination-story/

Continue Reading
Energy9 hours ago

Ballard Closes US$402.5 Million Bought Deal Offering of Common Shares

Energy9 hours ago

Lithium-ion Battery Market Size USD 129.3 Billion By 2027 At A CAGR of 18.0% | Valuates Reports

Energy9 hours ago

CBAK Energy and Kandi Group Signed Supply Framework Agreement

Energy10 hours ago

Level Sensors Market worth $6.1 billion by 2025 – Exclusive Report by MarketsandMarkets™

Energy10 hours ago

Rescheduling of Work Commitments in Corentyne Block, Guyana

Cyber Security11 hours ago

Technological Innovations at the Tokyo Olympics

Gaming14 hours ago

The Basics: Popular Casino Games You Should Play

Press Releases15 hours ago

The International Vaccine Institute Supports a Global Campaign to Reduce the Spread of Covid-19

Esports16 hours ago

T1 re-signs top laner Canna, extends contract until 2022

Energy16 hours ago

JinkoSolar to Report Third Quarter 2020 Results on December 7, 2020

Energy16 hours ago

EWPG Holding AB: Interim report for the period 1 January – 30 September 2020

Esports17 hours ago

Khan joins DAMWON as team’s new top laner

Cyber Security18 hours ago

Different ways tech plays a key role in securing igaming platforms

Energy22 hours ago

LONGi suministra 273MW de sus módulos solares a la mayor planta solar del Sureste de Asia

Ecommerce23 hours ago

ADvendio Celebrates 10 Years of Product Excellence and Growth

Esports23 hours ago

Super Smash Bros. Melee Slippi mod launches broadcast feature early in response to #FreeMelee

Esports23 hours ago

The 7 best low-back gaming chairs

Denmark
Esports24 hours ago

Heroic move past Endpoint in BLAST Premier Showdown

Esports1 day ago

Na’Vi brings Mag back from inactive roster to coach Dota 2 team

Esports1 day ago

Fantasy games live for DreamHack Masters Winter and Flashpoint 2 playoffs

Energy1 day ago

Worldwide Hybrid Diesel Genset Industry to 2026 – Key Drivers and Restraints

Energy1 day ago

The Neutrino Energy Group Transcends the Theoretical to Transform Practical Energy Use Worldwide

Esports1 day ago

How to activate crossplay on Rainbow Six Siege

Esports1 day ago

Pokémon teases 25th-anniversary celebration during Macy’s Thanksgiving Day Parade

Energy1 day ago

ChemPoint es seleccionado como distribuidor de los productos de Soluciones Especializadas de DuPont para México

Esports1 day ago

Apex Legends Dev Believes Wattson Isn’t ‘Useless’

Esports1 day ago

Horizon Voice Actor Shows What it Was Like to Record During the Pandemic

United States
Esports1 day ago

Liquid edge past MAD Lions in BLAST Premier Fall Showdown

Energy1 day ago

Europe Excavator Market Outlook Report 2020-2025 Featuring Prominent Players – Caterpillar, CNH, John Deere, Kobelco, Liebherr

Esports1 day ago

League’s original 17 champions and how different they were 11 years ago

Trending