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Showing posts from February, 2022

Possible Scenarios For Bitcoin, How The Market Has Reacted To Past Wars

Bitcoin has been moving sideways around its current levels as the war started by Russia with Ukraine rages on. The first crypto by market cap could see more bloody days ahead, as uncertainty about the outcome, sanctions to the Russian government, and their impact across the market increases. Related Reading | Digital “Ukrainian” for Sale: All Funds Will Be Spent on the Needs of the Army At the time of writing, Bitcoin was trading at $38,284 with 0.7% profit in the past 24-hours. However, it quickly managed to get above previous resistance and trades at $40,561 with a 7.66% profit on the daily chart. BTC bouncing back on the daily chart. Source: BTCUSD Tradingview In a recent report published by QCP Capital, the firm claims the Luna year of the Tiger has been marked by important negative events which took their toll on global markets. These include the Chernobyl Disasters, the Cuban Missile Crisis, the Korean War, and now the Russian invasion of Ukraine. Due to the international san

OVRLands Mints 778k NFTs on Polygon

And so it’s another significant feat achieved by OVRLand. OVR (a non-fungible tokens – NFTs) metaverse has hit another milestone by minting over 778k NFTs in about six days to become arguably the biggest and most active gas burner on Polygon. Currently, OVRLand has the largest owners community, more extensive than the Metaverse incumbents like the Sandbox and Decentraland. According to the team, OVR boasts the most active NFT community in the metaverse. NFTs are basically digital assets that are situated on blockchain technology. Ideally, they’re a unique set of non-interchangeable tokens that offer individuals the power to own as well as fully control a digital item. Every NFT comes with a specific digital identifier that can’t be copied, subdivided, or substituted. That way, together with the immutability that blockchain technology offers, makes NFTs valuable assets for not only certification of authenticity but also ownership. Also, OVR is a decentralized structure for AR metav

South Korea to invest $187M in national Metaverse

The government will provide $186.7 million to stimulate the growth of a Metaverse platform that it hopes businesses and industry will thrive in. South Korea’s Ministry of ICT, Science, and Future Planning pledged 223.7 billion KRW ($186.7 million) to create a broad Metaverse ecosystem to support the growth of digital content and corporate growth within the country. The Ministry wrote in an official statement on Feb. 27 that funds will be spent on completing four main objectives in creating what appears to be an all-encompassing Metaverse ecosystem titled the Expanded Virtual World . The government agency intends on using its Metaverse as a platform for expanding the virtual industrial growth of cities, education, and media. Content creators will enjoy support on multiple fronts to attract the right talent to help build the platform. The Ministry said that it will host community-oriented creative activities, a Metaverse developer contest, and a hackathon. CEO of Hashed Simon Kim

Non-zero BTC addresses hit all-time high of 40 million

The supply-side dynamics of the Bitcoin network continue to demonstrate strong adoption as there are now more addresses with a positive BTC balance than ever before. On-chain statistics through February have suggested positive sentiment for Bitcoin as addresses with a non-zero balance of BTC reached an all-time high. Additionally, those wallets with a positive BTC balance are increasingly hodling their coins. The amount of BTC circulating supply last moved between three and five years ago reached a four-year high of just over 2.8 million coins, according to data from on-chain analytics firm Glassnode . #Bitcoin $BTC Number of Non-Zero Addresses just reached an ATH of 40,276,163 Previous ATH of 40,275,801 was observed on 05 February 2022 View metric: https://t.co/VtoChZbLsa pic.twitter.com/hTnHlN9GeU — glassnode alerts (@glassnodealerts) February 27, 2022 The number of addresses with a non-zero balance was on a steep increase through 2019 and 2020 until the middle of 202

TA: Why Bitcoin Must Close Above $40K For Trend Reversal

Bitcoin is struggling to clear the $40,000 resistance zone against the US Dollar. BTC must settle above $40,000 to start a steady upward move. Bitcoin struggled to clear the $40,000 resistance zone and corrected lower. The price is trading below $39,000 and the 100 hourly simple moving average. There was a break below a short-term contracting triangle with support near $38,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a major increase if there is a close above the $40,000 resistance zone. Bitcoin Price Faces Key Resistance Bitcoin price remained in a positive zone above the $38,00 pivot level. BTC even broke the $39,500 resistance level. The bulls made a couple of attempts to clear the $40,000 resistance zone, but they failed. The recent swing high was formed near $39,888 before there was a downside correction. There was a move below the $39,000 and $38,800 support levels. Besides, there was a break below a short-term contracting tria

Are NFTs coming soon to your favorite video games?

Gamers love digital collectibles, but they aren’t fawning over NFTs. What gives? And what does this mean for the future of gaming? In 1996, when the Nintendo 64 was first launched in the United States, it sold 1.6 million units (worth $200 each) in its first quarter. Its closest competitor for the holiday season was a $30 Tickle Me Elmo doll, which sold around a million units in the same window. More than 20 years later, when Nintendo’s $300 Switch sold 1.5 million units in its first week, there was a lot more competition, and not just for the holiday season. The business of gaming has changed dramatically since its early days. From basic monetization through the sale of physical and digital copies of games to in-game monetization through microtransactions, the widespread adoption of the internet has caused a pronounced shift in the gaming landscape. While the previous millennium’s video game studios depended on revenue from selling games and gaming hardware, today’s goliaths don’t

Top 5 cryptocurrencies to watch this week: BTC, LUNA, AVAX, ATOM, FTM

Crypto markets are expected to remain volatile for the foreseeable future, but BTC’s battle to reclaim $40,000 could be followed with rallies from LUNA, AVAX, ATOM and FTM. The geopolitical news flow is likely to result in volatile moves in Bitcoin ( BTC ) and altcoins in the next few days. News of Russian President Vladimir Putin ordering the nuclear deterrence forces on high alert may be viewed as a negative, but reports of talks between the warring nations could be positive as it raises hopes of an end to the conflict. The crypto community came into focus as the Ukrainian government called for help and sought crypto donations. Some individuals on social media said their Ukrainian credit cards had stopped working and they were not able to withdraw money from their banks. They highlighted how crypto was the only money left with them. Crypto market data daily view. Source: Coin360 While some analysts are projecting that Bitcoin may have bottomed out, Cointelegraph contributo

Why decentralization isn’t the ultimate goal of Web3

Decentralization of Web3 infrastructure is critical to its success as it gives us back the freedom that we are currently paying for using Web2. The transition from Web2 to Web3 is inevitable. Yet, as the demand for decentralization gains momentum, several important questions are being raised about the current state of blockchain technology and its promised “decentralization.” Vitalik Buterin responded with a confession that “a lot of it comes down to limited technical resources and funding. It’s easier to build things the lazy centralized way, and it takes serious effort to ‘do it right.’” Or, Jack Dorsey’s recent tweet where he claimed that it’s actually the venture capitalists who own the networks that exist today. You don’t own “web3.” The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity with a different label. Know what you’re getting into… — jack⚡️ (@jack) December 21, 2021 Their comments make it clear that with the

Ukraine accepts Bitcoin, Ethereum, USDT donations to fund ongoing war

The Ukrainian government has reached out to the crypto community on Twitter to raise funds to support its civilians and troops. Within the first week of the Russia-Ukraine war, the Ukrainian government has reached out to the crypto community on Twitter for raising funds to support its civilians and troops. Ukraine has now started accepting Bitcoin ( BTC ), Ethereum ( ETH ) and Tether ( USDT ) as donations. As Russia threatens to take over Ukraine’s capital city of Kyiv, the government of Ukraine sought help from numerous international organizations to overpower the imminent threat. However, considering time is of the essence, the official Twitter account of Ukraine extended its call for help to Crypto Twitter. Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT. BTC - 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P ETH and USDT (ERC-20) - 0x165CD37b4C644C2921454429E7F9358d18A45e14 — Ukraine / Україна (@Ukraine) February 26, 2022 Additiona

DAO is the major concept for 2022 that will disrupt many industries

We are still scratching the surface of the enormous possibilities DAOs hold, and many more industries will be disrupted starting this year. The blockchain and cryptocurrency rave is not ending anytime soon. And as more people are being introduced to revolutionary technologies in the digital space, new improvements upon these technologies are also being introduced. In the last couple of years, the DeFi and NFT industries have experienced immense levels of growth and, currently, metaverses and Web3 are the technologies making the digital space light up.  It is not yet clear where these disruptive technologies will lead us, but we are sure that there will be much value up for grabs. At the convergence of Web3 and NFTs lie many platforms looking to leverage technology and infrastructure to make the NFT ecosystem more decentralized, structured and community-driven. Using both social building and governance, the decentralized autonomous organization disruption is a notch higher. The DAO

An overview of the blockchain development lifecycle

This guide on blockchain application development presents eight steps for developing apps that are to live on the blockchain. How long does it take to create a blockchain? The development phase for blockchain applications can take a few months to a year or longer. It’s important to be strategic and delineate a roadmap. Developers must understand how much time is required to dedicate to each step before proceeding to the next stages. Some questions to ask when going through this step include the following: What are the real-world use cases for this project?  Does the project use smart contracts ? How soon should early versions be released to attain an MVP? In what ways will blockchain technology integrate into this project? What blockchain programming language, external database and servers will the application use?  How will this blockchain application interact with off-chain systems? Will the blockchain application feature hybrid components for both off- and on-chain appli

Are crypto and blockchain safe for kids, or should greater measures be put in place?

Age verification and educations around the implications of blockchain technology should be enforced for minors dabbling in the crypto space. Crypto is going mainstream, and the world’s younger generation, in particular, is taking note. Cryptocurrency exchange Crypto.com recently predicted that crypto users worldwide could reach 1 billion by the end of 2022. Further findings show that Millennials — those between the ages of 26 and 41 — are turning to digital asset investment to build wealth. For example, a study conducted in 2021 by personal loan company Stilt found that, according to its user data, more than 94% of people who own crypto were between 18 and 40. Keeping children safe While the increased interest in cryptocurrency is notable, some are raising concerns regarding the ways those under the age of 18 are interacting with digital assets. These challenges were highlighted in UNICEF’s recent “Prospects for children in 2022” report, which examines the impact that global tr