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NFT Craze and Institutional Participation Fuels the Crypto World

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The cryptocurrency rally continued in Q1 2021 fueled by the craze surrounding non-fungible token (NFT) and rising participation from institutional investors, according to CoinGecko’s latest crypto report.

The CoinGecko Q1 2021 Quarterly Cryptocurrency Report, released earlier this month, looks at the state of the crypto industry, outlining the major developments and trends that emerged the past quarter.

In Q1’21, total market capitalization of cryptocurrencies broke past US$2 trillion, jumping 146% during the quarter and 900% from April 2020, while trading volume surged 155%.

Top 30 market cap and spot trading volume (Jan 2020 - April 2021), CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

Top 30 market cap and spot trading volume (Jan 2020 – April 2021), CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

More than half of the crypto market capitalization belongs to bitcoin, which recorded multiple all-time highs this past quarter and soared to more than US$64,700 in April 2021. Ether, the second biggest cryptocurrency, grew 159% in value to over US$2,100.

Despite these staggering growth rates, bitcoin and ether underperformed compared to competing networks and cryptocurrencies such as Binance Coin (BNB), which recorded a 710% growth, Cardano (ADA) at 555%, and Polkadot (DOT) at 294%.

Top 5 cryptocurrency price returns (Jan – Apr 2021), CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

Institutions, corporates drive crypto bull run

Cryptocurrencies’ current rally is fueled by institutional investors and corporate adoption. Electric carmaker Tesla bought US$1.5 billion worth of bitcoins earlier this year but recently sold 10% of its holdings, Bloomberg reported on April 27.

Fidelity Investments is looking to launch an exchange-traded fund (ETF) that tracks the price of bitcoin, a March 24 filing with the US Securities and Exchange Commission (SEC) shows. The ETF, called Wise Origin Bitcoin Trust, will aim to match an index that takes spot prices from various bitcoin markets.

Fidelity Investments was among the first major financial firms to embrace cryptocurrencies as an asset class, establishing in 2018 Fidelity Digital Assets, a subsidiary that has since deployed its cryptocurrency custody and trade execution operations.

PayPal just launched a new cryptocurrency checkout service, allowing more than 375 million customers to shop using cryptocurrencies at millions of online merchants, while Visa became last month the first major payment network to settle transactions in USD Coin (USDC), a stablecoin co-founded by Circle and Coinbase, and powered by the Ethereum blockchain.

On April 14, US cryptocurrency exchange Coinbase began trading on the Nasdaq, a watershed moment for the crypto industry which saw its first company go public.

According to the CoinGecko report, public companies are now controlling 0.95% of the total bitcoin supply, with software company MicroStrategy leading, followed by Tesla, digital assets broker-dealer Galaxy Digital Holdings, and payment company Square.

Public companies are now controlling 0.95% of the total bitcoin supply, as of April 21, CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

Public companies are now controlling 0.95% of the total bitcoin supply, as of April 21, CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

The NFT craze

Q1’21 also saw NFTs explode in popularity with total market capitalization reaching US$27.9 billion on April 01. On OpenSea and Rarible, two leading NFT marketplaces, trading volumes surged to US$187 million in March.

Sports, gaming, collectibles and metaverses, or shared virtual space, are the four major NFT categories.

Total art trading volume jumped to US$205 million in March, while aggregate sales volumes for collectibles such as CryptoPunks and CryptoKitties, surged to US$157.4 million and US$32.5 million, respectively.

Nifty Gateway currently dominates the art NFT space, accounting for most of trading volume. Nifty Gateway, a startup founded in 2018, was acquired in November 2019 by cryptocurrency exchange and custodian Gemini.

NFT art marketplaces trading volume (Jan 2020 - Mar 2021), CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

NFT art marketplaces trading volume (Jan 2020 – Mar 2021), CoinGecko Q1 2021 Quarterly Cryptocurrency Report, April 2021

NFTs became wildly popular in the early months of 2021 because of high-profiles sales: NBA Top Shot’s video clip of LeBron James sold for US$208,000 on February 22; 3LAU’s album had brought in US$11.6 million in sales, as of February 28; and digital artist Beeple’s piece sold for US$69.3 million on March 11.

The quarter saw many big brands join the NFT craze. In March, Pringles released a limited-edition flavor called CryptoCrisp. All 50 packages of the new flavor only exist as NFT artwork, and were auctioned off exclusively on the Rarible platform. Similarly, Pizza Hut Canada launched the world’s first NFT pizza as a collectible, while Taco Bell is selling taco-themed digital art.

We’ll be hosting CoinGecko’s CEO & Co-founder in our upcoming Fintech Fireside Chat, register now to learn how CoinGecko bootstrapped the world’s best crypto aggregator out of Kuala Lumpur. 

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://fintechnews.sg/50612/blockchain/nft-craze-and-institutional-participation-fuels-the-crypto-world/

Crowdfunding

Digital Asset Firm Kraken Explains how to Securely Store Bitcoin, Ethereum, Other Cryptocurrencies

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Digital asset firm Kraken recently published a report that explains how to safely and securely store your cryptocurrency holdings.

Kraken notes in its report that if you’ve recently purchased some crypto-assets, then you might feel uneasy after hearing about the many horror stories of investors or traders losing fortunes “just by making mistakes as silly as losing the password to their crypto wallet.”

Kraken also mentioned that it’s possible new crypto investors are unable to find reliable resources that clearly explain how to securely store their coins.

According to Kraken, the truth of the matter is that the crypto space has changed quite a bit during the past few years and you need not “go down the same rabbit hole” that others had to when previously trying to store their digital assets.

Kraken Intelligence and Kraken Security Labs revealed that they’ve partnered to offer you “simple, honest advice on how you might want to store your crypto.”

As mentioned in the report, what may work for you might not work for someone else. That’s why it is important that users carefully weigh the advantages and disadvantages of how they decide to buy, store and transact with their cryptocurrency.

Since crypto-assets are more “decentralized” than traditional assets, holders have to take “precautionary measures to protect against the risk of either loss or theft,” the Kraken team explained.

They reminded users that once their crypto is lost, it’s “gone forever.”

A few examples of how crypto has been lost or stolen:

  • Human error (e.g., you “send your funds to the wrong wallet, you forget your password”)
  • Natural disaster (e.g., your house “burns down with your crypto wallet(s) stored inside it”)
  • Hardware malfunction/loss (e.g., your “computer hard drive holding your private keys is corrupted”)
  • Theft
    • Remote theft (e.g., you “fall victim to scams, an exchange hack, or a personal hack”)
    • Physical robbery (e.g., “your backpack or purse is stolen with your private keys in it”)
    • Government seizure (e.g., law enforcement “demands an exchange to freeze your account”)

As explained in Kraken’s report, digital assets are kept in wallets, which are “computer programs that allow crypto to be sent or received.” The report from Kraken also noted that “depending on whether the wallet is connected to the internet, crypto wallets are bucketed into two categories: ‘hot’ (online) or ‘cold’ (offline).”

Kraken’s report further noted that on most cryptocurrency networks, the public key serves as the “account number” while the private key is like the “password.” ”

While there are may be certain exceptions, most digital currencies like Ethereum (ETH)  work in “pretty much the same way,” the report noted.

Kraken’s report recommends that:

“Long-time holders looking to store generational wealth should custody their crypto-assets via more complex strategies, including running a full node to verify transactions, storing funds with a trusted custodian, utilizing multi-signature technology (multisig) to split private keys between trusted third parties, and/or splitting funds between multiple hardware wallets, among others.”

The report adds that market participants that come under this tier should “consult a professional for an appropriate strategy relative to their financial situation.”

As suggested by Kraken, a potential solution in this “realm” probably needs several different keys to unlock funds (i.e. multisig) in a wallet and could look like the following:

  • Your own Rube Goldberg-esque system “with separate devices on different continents, custom-written applications and laser-etched backup plates buried under your home.”
  • A professional company “storing your crypto (known as a custodian).”
  • The middle-ground – “a company that helps you to self-custody your assets (e.g., Casa custody and Unchained Capital).”

You can view the complete report here.

Kraken offers access to 57 different virtual currencies spanning over 280 markets with sophisticated trading features, robust security, and “on-demand” client service.

With its acquisition of Crypto Facilities, Kraken now provides “seamless” access to regulated derivatives on 5 digital currencies with as much as 50x leverage.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175171-digital-asset-firm-kraken-explains-how-to-securely-store-bitcoin-ethereum-other-cryptocurrencies/

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Crowdfunding

Digital Asset Firm Kraken Explains how to Securely Store Bitcoin, Ethereum, Other Cryptocurrencies

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Published

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Digital asset firm Kraken recently published a report that explains how to safely and securely store your cryptocurrency holdings.

Kraken notes in its report that if you’ve recently purchased some crypto-assets, then you might feel uneasy after hearing about the many horror stories of investors or traders losing fortunes “just by making mistakes as silly as losing the password to their crypto wallet.”

Kraken also mentioned that it’s possible new crypto investors are unable to find reliable resources that clearly explain how to securely store their coins.

According to Kraken, the truth of the matter is that the crypto space has changed quite a bit during the past few years and you need not “go down the same rabbit hole” that others had to when previously trying to store their digital assets.

Kraken Intelligence and Kraken Security Labs revealed that they’ve partnered to offer you “simple, honest advice on how you might want to store your crypto.”

As mentioned in the report, what may work for you might not work for someone else. That’s why it is important that users carefully weigh the advantages and disadvantages of how they decide to buy, store and transact with their cryptocurrency.

Since crypto-assets are more “decentralized” than traditional assets, holders have to take “precautionary measures to protect against the risk of either loss or theft,” the Kraken team explained.

They reminded users that once their crypto is lost, it’s “gone forever.”

A few examples of how crypto has been lost or stolen:

  • Human error (e.g., you “send your funds to the wrong wallet, you forget your password”)
  • Natural disaster (e.g., your house “burns down with your crypto wallet(s) stored inside it”)
  • Hardware malfunction/loss (e.g., your “computer hard drive holding your private keys is corrupted”)
  • Theft
    • Remote theft (e.g., you “fall victim to scams, an exchange hack, or a personal hack”)
    • Physical robbery (e.g., “your backpack or purse is stolen with your private keys in it”)
    • Government seizure (e.g., law enforcement “demands an exchange to freeze your account”)

As explained in Kraken’s report, digital assets are kept in wallets, which are “computer programs that allow crypto to be sent or received.” The report from Kraken also noted that “depending on whether the wallet is connected to the internet, crypto wallets are bucketed into two categories: ‘hot’ (online) or ‘cold’ (offline).”

Kraken’s report further noted that on most cryptocurrency networks, the public key serves as the “account number” while the private key is like the “password.” ”

While there are may be certain exceptions, most digital currencies like Ethereum (ETH)  work in “pretty much the same way,” the report noted.

Kraken’s report recommends that:

“Long-time holders looking to store generational wealth should custody their crypto-assets via more complex strategies, including running a full node to verify transactions, storing funds with a trusted custodian, utilizing multi-signature technology (multisig) to split private keys between trusted third parties, and/or splitting funds between multiple hardware wallets, among others.”

The report adds that market participants that come under this tier should “consult a professional for an appropriate strategy relative to their financial situation.”

As suggested by Kraken, a potential solution in this “realm” probably needs several different keys to unlock funds (i.e. multisig) in a wallet and could look like the following:

  • Your own Rube Goldberg-esque system “with separate devices on different continents, custom-written applications and laser-etched backup plates buried under your home.”
  • A professional company “storing your crypto (known as a custodian).”
  • The middle-ground – “a company that helps you to self-custody your assets (e.g., Casa custody and Unchained Capital).”

You can view the complete report here.

Kraken offers access to 57 different virtual currencies spanning over 280 markets with sophisticated trading features, robust security, and “on-demand” client service.

With its acquisition of Crypto Facilities, Kraken now provides “seamless” access to regulated derivatives on 5 digital currencies with as much as 50x leverage.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175171-digital-asset-firm-kraken-explains-how-to-securely-store-bitcoin-ethereum-other-cryptocurrencies/

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Crowdfunding

Digital Asset Firm Kraken Explains how to Securely Store Bitcoin, Ethereum, Other Cryptocurrencies

Avatar

Published

on

Digital asset firm Kraken recently published a report that explains how to safely and securely store your cryptocurrency holdings.

Kraken notes in its report that if you’ve recently purchased some crypto-assets, then you might feel uneasy after hearing about the many horror stories of investors or traders losing fortunes “just by making mistakes as silly as losing the password to their crypto wallet.”

Kraken also mentioned that it’s possible new crypto investors are unable to find reliable resources that clearly explain how to securely store their coins.

According to Kraken, the truth of the matter is that the crypto space has changed quite a bit during the past few years and you need not “go down the same rabbit hole” that others had to when previously trying to store their digital assets.

Kraken Intelligence and Kraken Security Labs revealed that they’ve partnered to offer you “simple, honest advice on how you might want to store your crypto.”

As mentioned in the report, what may work for you might not work for someone else. That’s why it is important that users carefully weigh the advantages and disadvantages of how they decide to buy, store and transact with their cryptocurrency.

Since crypto-assets are more “decentralized” than traditional assets, holders have to take “precautionary measures to protect against the risk of either loss or theft,” the Kraken team explained.

They reminded users that once their crypto is lost, it’s “gone forever.”

A few examples of how crypto has been lost or stolen:

  • Human error (e.g., you “send your funds to the wrong wallet, you forget your password”)
  • Natural disaster (e.g., your house “burns down with your crypto wallet(s) stored inside it”)
  • Hardware malfunction/loss (e.g., your “computer hard drive holding your private keys is corrupted”)
  • Theft
    • Remote theft (e.g., you “fall victim to scams, an exchange hack, or a personal hack”)
    • Physical robbery (e.g., “your backpack or purse is stolen with your private keys in it”)
    • Government seizure (e.g., law enforcement “demands an exchange to freeze your account”)

As explained in Kraken’s report, digital assets are kept in wallets, which are “computer programs that allow crypto to be sent or received.” The report from Kraken also noted that “depending on whether the wallet is connected to the internet, crypto wallets are bucketed into two categories: ‘hot’ (online) or ‘cold’ (offline).”

Kraken’s report further noted that on most cryptocurrency networks, the public key serves as the “account number” while the private key is like the “password.” ”

While there are may be certain exceptions, most digital currencies like Ethereum (ETH)  work in “pretty much the same way,” the report noted.

Kraken’s report recommends that:

“Long-time holders looking to store generational wealth should custody their crypto-assets via more complex strategies, including running a full node to verify transactions, storing funds with a trusted custodian, utilizing multi-signature technology (multisig) to split private keys between trusted third parties, and/or splitting funds between multiple hardware wallets, among others.”

The report adds that market participants that come under this tier should “consult a professional for an appropriate strategy relative to their financial situation.”

As suggested by Kraken, a potential solution in this “realm” probably needs several different keys to unlock funds (i.e. multisig) in a wallet and could look like the following:

  • Your own Rube Goldberg-esque system “with separate devices on different continents, custom-written applications and laser-etched backup plates buried under your home.”
  • A professional company “storing your crypto (known as a custodian).”
  • The middle-ground – “a company that helps you to self-custody your assets (e.g., Casa custody and Unchained Capital).”

You can view the complete report here.

Kraken offers access to 57 different virtual currencies spanning over 280 markets with sophisticated trading features, robust security, and “on-demand” client service.

With its acquisition of Crypto Facilities, Kraken now provides “seamless” access to regulated derivatives on 5 digital currencies with as much as 50x leverage.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175171-digital-asset-firm-kraken-explains-how-to-securely-store-bitcoin-ethereum-other-cryptocurrencies/

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MakerDAO and Aave Integrated DeFi Protocol Centrifuge’s Token Sale to Launch on CoinList

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Digital asset platform CoinList recently announced the Centrfuge Token Sale.

CoinList‘s management noted (on May 6, 2021) that they’re pleased to  confirm that the registrations for the Centrifuge sale on CoinList is now open.

As noted by the CoinList team, the sale has two options with different terms and conditions:

  • Option 1 will “run from May 26 2021, 17:00 UTC to May 31 2021, 14:00 UTC”
  • Option 2 will “run from May 26 2021, 23:00 UTC to May 31 2021, 14:00 UTC”
  • The registration “deadline for the Centrifuge sale is May 21 2021, 23:59 UTC.”

As mentioned in the update:

“Additionally, Centrifuge is offering Tinlake users access to a whitelisted, invite-only option at $0.38 per token with a 2 year unlock schedule. Invitations to that option will be emailed directly to eligible participants.”

You may register here.

As explained by CoinList, Centrifuge is “one of the first protocols to connect (decentralized finance) DeFi to the real-world as it brings the untapped, multi-trillion market of real-world assets (RWA) on-chain.”

Companies or businesses are reportedly using Centrifuge today to gain access to the liquidity that DeFi provides.

A few “reasons” why CoinList claims it’s “excited” about Centrifuge are as follows:

  • TVL Doubling Every Month: Centrifuge has “entered a new category of Total Value Locked (TVL) growth: real-world asset (RWA) TVL.” The protocol “tokenizes real-world assets by converting them into NFTs on the Centrifuge Chain.”
  • Breaking Ground in Polkadot: Centrifuge chain is “built on Polkadot for speed and low fees, while its financing Dapp, Tinlake, is built to access the massive liquidity on Ethereum.” The native token CFG has “its own bridge to Ethereum.”
  • Integrated with DeFi Industry Leaders: Directly integrating into other DeFi protocols such as MakerDAO and Aave “allows Centrifuge users to get instant liquidity and makes DeFi protocols more secure against destabilizing events by adding uncorrelated collateral.”

You may register here.

CoinList clarified that this offer is not available for residents and citizens of the United States, China, Canada, Switzerland, South Korea, British Virgin Islands, and “certain jurisdictions.”

Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/05/175168-makerdao-and-aave-integrated-defi-protocol-centrifuges-token-sale-to-launch-on-coinlist/

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