Connect with us

Blockchain

UK savers sleepwalking into retirement six years on from Pensions Freedoms, says new study

Avatar

Published

on

Blockchain

Enjin to Tokenize Celebrity Art as a Fundraising Mechanism

Avatar

Published

on

Popular social gaming website, Enjin has partnered with popular blockchain entrepreneur, Miss Bitcoin to launch a non-fungible token (NFT) charity program.

The charity program, which is the first of its kind in Japan, will launch through Kizuna, a hub for bitcoin donations with no handling fees. 

The first campaign of the charity program will involve tokenized art created by Japanese artists. Funds raised from the campaign will be directed to the Dream Possibility (DxP), a non-profit organization providing help for teenagers facing coronavirus-related issues. 

The sale is expected to fetch over 200,000 Japanese yen (~$20,000). Notable figures will likely participate in the initiative, however, their names have not yet been released. 

The NFT charity project is based on the Japanese concept called ‘Sanpo Yoshi,’ a satisfaction of three parties. Enjin CEO Maxim Blagov commented on the partnership:

“Art tokenization is another great example of how blockchain can automate the sale and fulfillment of high-value assets. While traditional art can take years to sell, it can be minted, listed, sold, and distributed within minutes via the blockchain.”

According to Blagov, compared to traditional art which can take years before finding a seller, art tokens can be minted, sold, and distributed within minutes. 

Non-Fungible Tokens 

Non-fungible tokens (NFTs) are a particular type of crypto token that cannot be exchanged for other assets. Each NFT is unique due to how they are coded in the smart contract.

They are used to prove ownership of digital assets. NFTs exist mostly on Ethereum, NEO, and other blockchains that enable smart-contracts. 

DxP founder Noriaki Imai expressed her excitement in the future of NFT’s:

“This is my first time being involved in an NFT program. I strongly believe in the potential of cryptocurrency to change people’s lives, and I feel very honored for DxP to be part of this initiative and benefit from the application of blockchain technology.”

2021 the Year for Enjin & Non-Fungible Tokens? 

Enjin appears to be investing heavily in the NFT space. The project recently partnered with gaming icon Atari to integrate NFT’s and digital collectibles.

It seems that every year in crypto brings with it a potentially more disruptive technology. As interest in NFTs surge, this will likely be a space to keep your sights on. 

Share Article

The opinion of BeInCrypto staff in a single voice.

Follow Author

Source: https://beincrypto.com/enjin-to-tokenize-celebrity-art-as-a-fundraising-mechanism/

Continue Reading

Blockchain

Five Biggest Altcoin Gainers from Jan. 11 – 17

Avatar

Published

on

Of the five biggest altcoin gainers from last week, IOST has the potential for a continuation of its significant upward move after reclaiming a long-term resistance area.

BQX and CRV have the potential for an increase towards the closest resistance area, while HEDG has yet to break out above long-term resistance. AVAX is already at an all-time high following a parabolic support line, making its position the most precarious out of the five altcoins.

 

Biggest Altcoin Movers

During the week of Jan 11-18, the five altcoins that increased the most were:

  1. HedgeTrade (HEDG) – 275%
  2. Voyager Token (BQX) – 162%
  3. Curve Dao Token (CRV) – 154%
  4. IOST (IOST) – 147%
  5. Avalanche (AVAX) – 133%

 

HEDG

HEDG has been following a descending resistance line since reaching a high of $3.15 on June 4, 2020. HEDG has validated the line multiple times up to this point, most recently on Jan. 16, during last week’s upward movement.

Despite the significant increase, HEDG failed to break out above this line, merely validating the $2.85 area as resistance once more. Currently, HEDG is back to trading below this descending resistance line.

While technical indicators in the daily time-frame are still bullish, the long upper wick and failure to break out is a strong sign of selling pressure.

Therefore, it’s possible that HEDG drops to the 0.618 Fib retracement level before potentially making another breakout attempt.

HEDG Chart By TradingView

BQX

Beginning on Jan. 4, BQX has had a massive run-up, increasing by 933% in the process.

Despite such a considerable upward move, there is no weakness in technical indicators yet, despite all of them signaling that prices are in the overbought territory.

BQX Chart By TradingView

The weekly chart also suggests that there is room for further increases. The closest resistance area is found at $2.03 (0.382 Fib retracement level).

Weekly indicators are similarly overbought but bullish, supporting the continuation of the upward movement.

BQX Chart By TradingView

CRV

CRV has been increasing rapidly since breaking out from a descending resistance line and validating it as support on Jan. 11.

Despite the parabolic rate of increase, technical indicators are still bullish, though they are in overbought territory.

The closest resistance area is found at $2.27 (0.382 Fib retracement level). Similar to BQX, CRV is expected to reach this resistance.

CRV Chart By TradingView

IOST

On Jan. 15, IOST reclaimed the $0.0175 area, which had previously acted as resistance since the beginning of 2018. IOST validated the area as support after and has been increasing since.

Technical indicators are still bullish, despite being overbought, supporting the continuation of the upward movement.

Therefore, IOST is expected to continue increasing towards the closest resistance area at $0.037.

IOST Chart By TradingView

AVAX

AVAX has been increasing rapidly since breaking out from a descending resistance line and reclaiming a horizontal level on Jan. 8. Since then, the rate of increase has become parabolic.

Due to the lack of support below the current price, the rally seems a little unstable. Nevertheless, technical indicators are still bullish, supporting the continuation of the upward move.

Due to AVAX being at an all-time high, we need to use a Fib extension on the original upward move in order to determine the next resistance areas.

Doing so gives us the $16.87 and $23 levels as potential resistance areas (2.61 and 3.61 Fib extensions respectively).

AVAX Chart By TradingView

For BeInCrypto’s latest Bitcoin (BTC) and altcoin analyses, click here!

Disclaimer: Altcoin trading carries a high level of risk and may not be suitable for all investors. The views expressed in this article do not reflect those of BeInCrypto.

Share Article

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo.
In 2019, he decided to focus full-time on cryptocurrencies and trading.

Follow Author

Source: https://beincrypto.com/five-biggest-altcoin-gainers-jan-11-17/

Continue Reading

Blockchain

Kraken Becomes Latest Exchange to Halt XRP Trading

Avatar

Published

on

US residents see their options shrink even further as Kraken freezes trading of the beleaguered crypto.

Kraken announced on Jan. 15 that it would halt trading in XRP for US residents. The company made the move because of the Securities and Exchange Commission (SEC) filing against Ripple Labs.

Kraken sets parameters

The exchange specified that US residents would still be able to deposit, hold, and withdraw XRP after the freeze takes place. The action affects only US residents. “Clients residing in other countries are not affected.”

The announcement also includes a FAQ list. It covers topics such as how long the ban will last (they will adapt to any change in the SEC saga). The upcoming change to a deposit-hold-withdraw only regime may change as the situation warrants. Also, the company’s plans regarding the Spark token airdop remain unchanged.

The SEC filing

The SEC action mentioned in the announcement is the set of Dec. 23 charges laid against Ripple Labs and some of its executives. The SEC claims that the company sold $1.2 billion of unregistered securities in the form of XRP through its platform. Former CEO Christian Larsen and current CEO Brad Garlinghouse are also charged with selling another $600 million in unregistered securities in the form of XRP. 

Ripple Labs is defending itself in court and in the media. Garlinghouse in particular has taken to Twitter to explain the company’s position.

Garlinghouse points out that the Ripple platform has been out for over seven years. Furthermore, it already has government decisions in several countries, including the US, stating that XRP is a form of currency and not a security. He also drew attention to the timing of the charges, and claimed that the outgoing SEC administration essentially left a mess for the incoming Biden team to clean up.

Ripple in still waters

The market reaction to the SEC charges came swiftly. XRP sank highs associated with the Flare airdrop at the end of November. It hit a bottom of under $0.20 at the end of December, while retail investors were raising bitcoin to new highs. A January rally raised XRP into the high 20s.

Exchanges with significant US exposure also moved quickly. Garlinghouse noted that the US accounts for about 5% of XRP holders, but the exchanges kept an eye on compliance. Coingate, Coinbase, and Bitstamp are among the exchanges that have already signaled stoppages.

In one sign as to how Ripple will leave this eddy of activity, SEC Commissioner Hester Peirce, commonly known as ‘Crypto Mom’, stated in a recent interview that charges such as these often get settled out of court.

Share Article

James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

Follow Author

Source: https://beincrypto.com/kraken-becomes-latest-exchange-to-halt-xrp-trading/

Continue Reading

Blockchain

China-based BSN Readies International CBDC Platform

Avatar

Published

on

China’s initial CBDC trials captured the attention of the world’s central bankers. Now, they’re planning on going global.

China’s Blockchain Service Network (BSN) laid out its plans for 2021 on Jan. 15. The company expects to build a universal digital payment network (UPDN) over the course of five years. However, its goals for 2021 include launching a beta-test version of the UPDN in the second half of the year.

Besides the UPDN, BSN has three other primary goals for 2021. These include expanding the BSN network and overall ecosystem as well as promoting the non-CBDC private platform.

What is BSN?

Blockchain Service Network is a Chinese government-supported blockchain research and development company. It is responsible for developing and rolling out the extensive blockchain platforms serving as a digital backbone for the country. With over 34,000 blockchain companies currently working in China, the country’s use of the technology extends deep into its economic base.

Digital yuan

BSN’s plans take part in the Chinese government’s rollout of the digital yuan. The introduction of the digital yuan was a event in the CBDC sector. It eclipsed by far the efforts of the European Central Bank in both scale and scope.

While the ECB experimented with payments in France in 2H2020, the Chinese airdropped digital yuan, engaged citizens in contests to win the CBDC, launched P2P transfers and enabled retailers to accept it.

Do BSN’s plans pose a threat to other countries? They do say that they foresee expanding Public City Nodes for their blockchains in 50 cities, “covering most developed countries” and well-growing developing countries. This is a BSN blockchain network development goal, not a CBDC goal.

However, the ECB broadcast its fears of foreign digital intervention on the currency markets. In November, 2020, the ECB laid out its “Reinvention of Money” strategy. One reason for the introduction of the digital euro, ECB Executive Board member Fabio Panetta declared, was the introduction of foreign CDBCs and the possible threat to Europe’s currency sovereignty.

Meanwhile, in America

On Thursday, Jan. 14,Chair of the US Federal Reserve Jerome Powell stated during an interview on Yahoo Finance that the development of a US CBDC is not something to do in a hurry. Also, he sees the US as having a first-mover advantage in that the dollar is the world’s reserve currency.

Powell stated that it would take years for a US CBDC, not months. That said, he also pointed out that it is something that needs to be done, and done right.

Share Article

James Hydzik is a finance and technology writer and editor based in Kyiv, Ukraine. He is especially interested in the development of regulation in the face of increasingly rapid technological change. He previously covered the CEE region for Financial Times banking and FDI magazines. An ardent believer in gut renovating eastern Europe one flat at a time, he currently holds more home renovation gear than crypto.

Follow Author

Source: https://beincrypto.com/china-based-bsn-readies-international-cbdc-platform/

Continue Reading
NEWATLAS2 hours ago

72-ft autonomous Saildrone sets out on seafloor-mapping mission

NEWATLAS2 hours ago

Quantum communication network goes long with help of drones

NEWATLAS4 hours ago

Lobster shells inspire stronger 3D-printed concrete

SPACS5 hours ago

With the Boom in SPACs, Private Companies Are Calling the Shots

SPACS5 hours ago

SPACs 101 FAQ: A Primer on Today’s Hottest Exit Strategy

SPACS6 hours ago

Why Clover Health Chose a SPAC, Not an IPO, to Go Public

NEWATLAS6 hours ago

Contents of ancient Maya drug vessels revealed by new analytic method

NEWATLAS7 hours ago

Nanoparticle injections into arthritic knees could slow cartilage loss

NEWATLAS7 hours ago

MIT’s hybrid electric plane concept captures its own harmful pollutants

NEWATLAS8 hours ago

Nissan concept van supports digital nomads with open-air office pod

NEWATLAS8 hours ago

Virgin Orbit’s LauncherOne reaches orbit on second attempt

NEWATLAS9 hours ago

COVID-19 pandemic triggers largest drop in US life expectancy in decades

Blockchain10 hours ago

Mitsubishi and Tokyo Tech Tap Blockchain for P2P Energy Trading Network

Blockchain10 hours ago

Robbers steal $500,000 in cash from crypto trader in Hong Kong

Blockchain11 hours ago

Good Griefing: A Lingering Vulnerability On Lightning Network That Still Needs Fixing

Blockchain11 hours ago

New Highs Inbound: Ethereum is About to See an Explosive Rally Against BTC

Blockchain11 hours ago

Underground stolen card forum to close after making profits during Bitcoin rally

Blockchain11 hours ago

Litecoin, Crypto.com Coin, Ethereum Classic Price Analysis: 18 January

NEWATLAS11 hours ago

Carbon fiber bike light powers up with a magnetic mount

Blockchain12 hours ago

XRP Price Analysis: 18 January

Blockchain12 hours ago

CBDCs Are Not Real Money, Says IMF Survey Respondents 

NEWATLAS12 hours ago

New technique converts microplastics into CO2 and H2O

Blockchain12 hours ago

GateHub Launches ‘Wallet Protect’ for XRPL Users

NEWATLAS13 hours ago

Juno to explore Jupiter’s rings and moons during new mission extension

Blockchain13 hours ago

Stellar Lumens, Aave, BAT Price Analysis: 18 January

Covid1913 hours ago

Mapped: The 50 Richest Women in the World in 2021

Blockchain13 hours ago

Litecoin Price Analysis: 18 January

Blockchain14 hours ago

Chainlink Wealth Gap Widens as Top 1% Own Over 80% of LINK

Blockchain14 hours ago

Binance Coin, Zcash, FTX TokenPrice Analysis: 18 January

Blockchain14 hours ago

PayPal May Earn $2 Billion in Revenue from Bitcoin Alone By 2023

Trending