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Crypto News

Bank of America: Bitcoin is Important, The Crypto Industry is Too Large To Ignore

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“Bank of America released a report analyzing the current state and perspectives of the cryptocurrency industry, which is now “too large to ignore”.

Bank of America has published its report “Digital Assets Primer: Only the first inning,” led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy, providing an in-depth analysis of the current state of the blockchain industry from cryptocurrencies to DeFi and NFTs.

The report says that the industries of cryptocurrencies and decentralized finance services have grown to the point of being “too large to ignore.”

BofA’s researchers note that nearly 221 million users have exchanged cryptocurrencies or used a DeFi service, with steady growth. Similarly, the increased participation of institutional investors is a clear indication that cryptocurrencies are much more than a passing phenomenon driven by retailers.

Bank of America is Bullish About The Crypto Space Beyond Bitcoin

Bank of America highlights that during the first half of 2021, the DeFi ecosystem received close to $17 billion in funding from institutional investors; this contrasts with the $5.5 recorded during 2020. Similarly, mergers and acquisitions in the crypto space rose from $940 million in 2020 to $4.2 billion in 2021.”

“In an official PR, Alkesh Shah maintained an agnostic stance, asserting that there is more to cryptocurrencies than Bitcoin.

“Bitcoin is important, but the digital asset ecosystem is so much more. Our research aims to explore the implications across industries including finance, technology, supply chains, social media and gaming.”

“The team also asserts that the way we interact with the world could change radically with the advent of blockchain technologies:

“In the near future, you may use blockchain technology to unlock your phone; buy a stock, house or fraction of a Ferrari; receive a dividend; borrow, loan or save money; or even pay for gas or pizza,”

Bank of America also highlighted that the growth of NFTs was a surprise for everyone. Researchers emphasized their fear that the large valuations of some NFT pieces, such as fractionalized artworks or the NFTs from the crypto game Loot, could be a bubble that affects many investors who do not know the risks they are exposed to.” Cryptopotato

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto News

Raoul Pal LATEST – Bitcoin To 350k and Ethereum 20k In 2021

Raoul Pal LATEST – Bitcoin To 350k and Ethereum 20k In 2021 Savvy Finance

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto News

Coinbase to use Polygon’s Ethereum scaling solution to reduce prices, settlement times

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An exact date for the L2 integration has not yet been made public.

An engineering team at the U.S. cryptocurrency exchange Coinbase plans to integrate Polygon’s layer-two (L2) scaling solution for Ethereum with the exchange platform.

  • The move marks a first for Coinbase’s protocol team, which will attempt to reduce high prices and long settlement times, according to a press release on Tuesday.
  • Integrating with Coinbase will allow exchange users to withdraw directly onto a supported L2 solution.
  • An exact date for the L2 integration has not yet been made public.
  • The Coinbase  is an experienced group of engineers aiming to contribute to the scaling of blockchains and community building. The team focuses on integrating various technologies with Coinbase products.
  • The aim is to help “level the playing field” while ensuring retail users don’t get priced out of being able to participate in this budding ecosystem, according to the release.
  • “This will certainly help to improve the Coinbase user experience,” said Polygon’s co-founder Sandeep Nailwal.
  • Last month,  with rollup platform Hermez Network in a $250 million deal, marking the first complete merger of one blockchain network into another.” FxStreet

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto Data

Top-Tier Blockchain platform Comparison

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

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Crypto News

Kraken Commits $250,000 to Advancing Ethereum’s Blockchain Upgrade Efforts

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“Today we are excited to announce that Kraken has donated $250,000 to the Ethereum Foundation to support developer teams working to achieve critical milestones on the Ethereum roadmap.

We believe it’s our responsibility to support the open-source innovators who are building the next generation of Ethereum, one of the key pillars of the crypto ecosystem. 

“As the first major exchange to list ETH for trading, Kraken is proud once again to lead the way by giving back to the courageous builders who are hard at work on the front lines of crypto innovation,” said Kraken CEO and cofounder Jesse Powell.

Funds will be awarded to developers working on nodes that support the Ethereum software over the coming months, going directly to projects that together power more than 80 percent of the distributed Ethereum network. 

Kraken clients are equally excited by, and committed to, Ethereum’s potential to shape a decentralized future. Since last December alone, our clients have staked more than 800,000 ETH – worth over $1.8 billion – to Ethereum’s Beacon Chain through their accounts, locking funds that can’t be made available until Ethereum makes essential migrations on its upcoming roadmap. 

Our donation follows our December grant to the decentralized Ethereum funding platform Gitcoin, which helped Kraken distribute $150,000 to Ethereum infrastructure projects. 

If you’re new to Ethereum and just hearing about staking, you can check out our staking guide on our Learn center. There, you’ll find details about how you can buy and stake ETH, earning rewards on your crypto on the Kraken exchange. You’ll also be able to learn about Ethereum, its transition to proof-of-stake, and other assets that you can stake on Kraken. ” Kraken

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto Data

The NFT stack: the applications and infrastructure that power the non-fungible economy

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto News

OpenSea Sees $1 Billion in Trading Volume in August

“Trading volume exceeded $1 billion.

Major non-fungible token (NFT) peer-to-peer marketplace OpenSea, has recorded a massive milestone, as its trading volume hit the $1 billion mark in August.

OpenSea’s Trading Volume Achieves Billion-Dollar Milestone

Tweeting on Tuesday (August 17th, 2021), OpenSea co-founder and CEO Devin Finzer announced the platform’s record trading volume. Earlier in August, the platform’s transaction volume saw a massive $95 million in 48 hours, which exceeded the entire volume registered in 2020.

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According to data from DappRadar, OpenSea has processed over 385,500 ETH worth $1.2 billion in trading volume in the last 30 days. This figure signals an astronomical increase of 932.68%.

Indeed, the $1 billion mark recorded on OpenSea is an indication of the growing use and adoption of NFTs. Celebrities, artists, sports clubs, musicians, among others continue to tap into the nascent industry by launching their various digital arts.ADVERTISEMENT

As reported by CryptoPotato earlier in August, New York-based American entertainment giant Marvel Entertainment unveiled the first set of NFTs of one of its comic superheroes, Spiderman, which sold out in under 24 hours. The company later launched the Captain America digital collection series.

Back in July, New York Knicks, an American professional basketball team partnered with enterprise NFT solution Sweet to launch five limited editions of 3D NFT Knicks tickets. The sector has also penetrated the government landscape, as Isreal’s new President received a digitalized copy of the original oath signed by the President’s father.” Cryptopotato

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto Data

Top 50 Crypto Performance over the last year

Top 50 Crypto Performance over the last year Blockchaincenter

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto Data

Microsoft wants to use Ethereum blockchain to fight piracy

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“The major software developer’s new plan to combat piracy relies on the transparency of blockchain technology.

Windows operating system and Office productivity suite have always been top performers on any software piracy platforms. So, it’s no wonder that Microsoft, the developer of both products, works hard to establish anti-piracy measures. 

In a new paper released by Microsoft’s research department, with the participation of researchers from Alibaba and Carnegie Mellon University, the Redmond-based software giant studied a blockchain-based incentive system to bolster anti-piracy campaigns. 

As the title of the research, “Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns,” suggests, Microsoft’s new system relies on the transparency aspect of blockchain technology. Built on the Ethereum blockchain, Argus aims to provide a trustless incentive mechanism while protecting data collected from the open anonymous population of piracy reporters.

“We see this as a distributed system problem,” the paper stated, “In the implementation, we overcome a set of unavoidable obstacles to ensure security despite full transparency.”

Argus enables backtracing of pirated content to the source with a corresponding watermark algorithm, which is detailed in the paper. Also named “proof of leakage,” each report of leaked content involves an information-hiding procedure. This way, no one but the informer can report the same watermarked copy without actually owning it. 

The system also has incentive-reducing safeguards to prevent an informer from reporting the same leaked content over and over under different aliases. “With the security and practicality of Argus, we hope real-world antipiracy campaigns will be truly effective by shifting to a fully transparent incentive mechanism,” the report stated.

Detailing the issue of Ethereum network fees, the paper explained that the team optimized several cryptographic operations “so that the cost for piracy reporting is reduced to an equivalent cost of sending about 14 ETH-transfer transactions to run on the public Ethereum network, which would otherwise correspond to thousands of transactions.” Cointelegraph

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Crypto Data

TOP Altcoin Picks 2021 Q3: SOLID Potential!! 💯

TOP Altcoin Picks 2021 Q3: SOLID Potential!! 💯

~~~~~ ⛓Pick 1⛓ My first crypto pick for the rest of 2021 is Ethereum, and ETH is a big part of my personal cryptocurrency portfolio 👨‍💻Pick 2👨‍💻 My second crypto pick for the rest of 2021 is Cardano, and ADA is also part of my personal cryptocurrency portfolio ☀Pick 3☀ My third crypto pick for the rest of 2021 is Solana, and SOL is a more recent addition to my personal cryptocurrency portfolio 📐Pick 4📐 My fourth crypto pick for the rest of 2021 is Polygon, and MATIC is one of the few cryptocurrencies that I regret not buying sooner Better late than never though, and that’s why I will be adding MATIC to my personal cryptocurrency portfolio 💱Pick 5💱 My fifth and final crypto pick for the rest of 2021 is Terra, and though I’m not currently planning on picking up any LUNA, I am seriously considering it 🕵️‍♂️Previous Pick Update: Monero🕵️‍♂️ Back then, XMR was around 130 dollars, and it reached a high of around 480 dollars in mid-May this year. That’s roughly a 3.5x, which is good, but not great 👨‍🏫Previous Pick Update: Algorand👨‍🏫 Back then, ALGO was around 30 dollars, and it reached a high of around a dollar 70 in early February. That’s roughly a 5.5x, which is better, but still far behind what other cryptos gained during that time 📺Previous Pick Update: Theta📺 Back then, Theta was around 70 cents, and hit an all time of over 14 dollars in mid-April this year. That’s a clean 20x move 📊Previous Pick Update: Injective Protocol📊 Back then, INJ was around 2 dollars, and it hit an all time high of over 24 dollars in mid-April this year. That’s a solid 12x move 🧱Previous Pick Update: BarnBridge🧱 BarnBridge is backed by DeFi giants like Aave and Synthetix, and it’s suite of DeFi services have seen hundred of millions of dollars in total value locked since its launch. ~~~~~ 📜 Disclaimer 📜 The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Coin Bureau

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Crypto Data

A First Look at Post-EIP 1559 Ethereum

“At block 1,265,000, Ethereum pushed its London upgrade with the long-awaited EIP 1559. The upgrade went off without a hitch and had thousands tuning in to watch parties celebrating the occasion.

In this article we look at data from the blockchain in its first 2 days after London. Key highlights include:

  • Burnt Fees
  • Gas Prices
  • ETH Inflation
  • EIP 1559 Transactions

Burnt Fees

The key metric in most people’s minds. In the first 2 days post-London, Ethereum has already burnt close to 9,200 ETH, approximately 0.01% of total supply. It has burnt ETH at a rate of 3.19 ETH per minute.

The 10 largest blocks burning ETH at the time of writing were all mined shortly after the upgrade. Continuing a trend prevalent throughout the last month, these congested blocks were caused by yet another NFT airdrop.

COVIDPunks the guilty part this time.

Gas guzzlers are contracts that consume the most gas due to their users’ interactions. After the London upgrade, they are also the largest burners of ETH. The top 10 entities to guzzle gas have burnt more than 4,500 ETH in the first 2 days since London.

Chart based on the entities making up the top 25 gas guzzler addresses.

Breaking these addresses down by type, we see that NFTs lead the way, followed closely by decentralized exchanges (DEX). These addresses make up more than 2/3 of top gas guzzlers burning ETH.

Providing an indication of a rollup/sidechain-centric future of Ethereum were the two bridge contracts of Polygon’s POS chain and Axie Infinity’s Ronin chain.

Conversely, gas spenders are entities that have spent and burnt the most gas. By far the leading ones are Binance and Coinbase. In total, the top 10 spenders have burnt close to 600 ETH in London’s first 2 days.

Looking at gas spenders by type, centralized exchanges dominate the pie, making up almost 90% of the top 25 addresses. Mining pools Spark Pool and Ethermine burnt a fair amount of ETH distributing mining profits to their miners, as they are now unable to do so by spending negligible gas prices.

Gas Prices

EIP 1559 changed the transaction mechanism in Ethereum from a first price auction to relying on a protocol base fee + user-selected priority fee. Etherscan users may have noticed this additional information displayed on the site.

ETH Inflation

Another popular misconception is that EIP 1559 necessarily results in a deflationary supply of ETH. Without the deployment of Proof of Stake (POS) and a subsequent drop in block rewards, Ethereum will overall remain inflationary. However, short periods with high base fees will result in a temporary deflation in ETH.

EIP 1559 Transactions

As most wallet providers have not switched to using EIP 1559-style transactions, they have made up less than 10% of transactions so far. A full analysis of EIP 1559 will likely be possible only after a majority of transactions have flipped from Legacy to EIP 1559.

COVIDPunks (culprit of the spike in base fees) were a primary beneficiary of these savings, experiencing the highest savings per transaction so far while minting new NFTs.”

More on Etherscan Blog

Harith Kamarul

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Crypto Data

Real Vision Exchange Week 20/21 Crypto Porfolio Allocation

Source : Real Vision Exchange

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Crypto Data

Top 50 performance over the last 30 days

Top 50 Cryptocurrencies performance over the last 30 days

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Crypto News

Ethereum’s London Hard Fork Expected to Launch on Aug. 4

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“Ethereum’s long-awaited London hard fork is likely to launch on Aug. 4 between 13:00 UTC (9 a.m. ET) and 17:00 UTC, with block 12,965,000. Many Ethereum enthusiasts are excited for the delayed release, while some are watching on with “cautious optimism.”

As a part of a roadmap designed to lead up to the release of Ethereum 2.0, which will replace Ethereum’s current proof-of-work protocol with proof-of-stake, the London hard fork has been implemented into various testnets. After successful activation on the Ropsten and Goerli testnets, the final hard fork release date was decided.

The protocol update includes five Ethereum Improvement Proposals (EIPs), most notably EIP 1559 and EIP 3554, that aim to counter various inefficiencies:

  • EIP 1559 introduces a new fee structure to make Ethereum less inflationary. This protocol change is highly controversial because it aims to burn part of the fees, hence decreasing miner revenue.
  • EIP 3554 delays Ethereum’s difficulty bomb to Dec. 1. This mechanism will incrementally increase the difficulty of mining on the Ethereum network, effectively “freezing” proof-of-work in preparation for Ethereum’s move to proof-of-stake.” Coindesk

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News

India to use Ethereum blockchain to check diploma certificates

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“The Government of Maharashtra recently announced a partnership with Indian blockchain startup LegitDoc to implement a credentialing system powered by Ethereum to provide tamper-proof diploma certificates. “

“We have an active work order from the Government of Karnataka (Department of Information Technology and Biotechnology). We are in talks with the Government of Telangana (school education department) and the Higher & Technical education department of Maharashtra to implement LegitDoc for their student community.” Cointelegraph

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Interviews News

The Best Time to Prepare For a Crash – Robert Kiyosaki Updates

The Best Time to Prepare For a Crash – Robert Kiyosaki Updates
The Rich Dad Channel

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Crypto News

Ethereum gained 300+ average monthly developers

Believe it or not, more than 90 of the top 100 crypto projects are built on ETH, with more than: -3,000 dapps & -200K ERC20s Still not impressed? Well, a large majority of these projects also include extensive use cases for ETH Croissant Eth

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Crypto Data

Top 30 Trending from 12 – 19 Jul 2021.

Top 30 Trending Searches on @coingecko from 12 – 19 Jul 2021. Coin98Analytics

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Crypto Data Crypto News

Crypto Fear & Greed Index

As you can see today we are currently at extreme fear July 16th 2021 on the Crypto Fear & Greed Index

“Why Measure Fear and Greed?

The crypto market behaviour is very emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in irrational reaction of seeing red numbers. With our Fear and Greed Index, we try to save you from your own emotional overreactions. There are two simple assumptions:

  • Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.
  • When Investors are getting too greedy, that means the market is due for a correction.”

From https://alternative.me/crypto/

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Crypto News youtube

TOP 10 BIGGEST Crypto Partnerships in 2021!! 🤑

TOP 10 BIGGEST Crypto Partnerships in 2021!! 🤑

” 👨‍🏫Types Of Crypto Partnerships👨‍🏫 Crypto partnerships typically fall in to one of four categories: crypto to crypto, crypto to private sector, crypto to public sector, and sponsorships. Crypto to crypto don’t really improve adoption or exposure 👨‍💻Reddit And The Ethereum Foundation👨‍💻 The goal of this partnership is to create a specialized scaling solution for Ethereum that will be used to distribute community points to Reddit’s 430 million monthly users 🏦Visa, Circle, Crypto.com and Anchorage🏦 The goal if this partnership is to make it possible for select Crypto.com clients to pay for goods and services in USDC directly using their Visa crypto debit cards 💱NYDIG And NCR💱 The goal of this partnership is to make it possible for every American to buy and sell cryptocurrencies directly from bank accounts 🌟Stellar And Ukraine🌟 The goal of this partnership is to develop a central bank digital currency or CBDC for Ukraine’s 44 million citizens 🆔Cardano (IOHK) And Ethiopia🆔 The goal of this partnership is to create a digital identity system for over 5 million students and teachers in the country to keep track of grades 💸Strike And El Salvador💸 The goal of this partnership is well known, and that’s to make Bitcoin legal tender. El Salvador’s Bitcoin law was passed just one day after it was proposed 🏒Crypto.com Sponsors Montreal Canadiens🏒 While the exact details of the partnership have yet to be defined, Crypto.com’s logo will be front and center at the Bell Center, which is the home turf 🏎Tezos Sponsors Redbull F1🏎 This sponsorship is a bit closer to a partnership as it will not only see the Tezos logo on the side of Red Bull’s cars but will also see Red Bull NFTs minted on the Tezos blockchain ⚾FTX Sponsors MLB⚾ This sponsorship will see the FTX logo embroidered into the jersey of every umpire in the league 🤼‍♂️Crypto.com Sponsors UFC🤼‍♂️ This sponsorship will see the Crypto.com logo added to everything, really ~~~~~ 📜 Disclaimer 📜 The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. ” by Coin Bureau

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Crypto News youtube

HUGE MOVE COMING FOR CRYPTOCURRENCY!

HUGE MOVE COMING FOR CRYPTOCURRENCY! WHALES BUYING ETHEREUM, BITCOIN, & MORE! CARDANO NEWS!

ank of America Creates a Cryptocurrency Team! Fidelity To Offer Ethereum! Whales Bitcoin Holdings Hits 27-Month High! Grayscale REVEALS Big Move Behind The Scenes! Hit Like, Share, and Subscribe for more daily cryptocurrency news Altcoin Daily, the best cryptocurrency news media online! by Altcoin Daily