Ki Young Ju, the CEO of on-chain and market analytics tools provider CryptoQuant, predicts that we will see an ETH ATH before a new BTC ATH
Ki uses exchange flows and cryptocurrency reserve amounts as an indicator for his prediction
Ethreum is underground a bigger supply shock than BTC, with London upgrade, Eth2 staking contract, and DeFi applications shrinking the circulating supply of available tokens
According to Ki Young Ju, CEO of on-chain and market analytics tools CryptoQuant, we are more likely to see Ethereum reach its all-time high before Bitcoin does. Ki points to the fact that ETH’s sell-side liquidity crisis is still intensifying, while BTC hit its lowest reserve levels on crypto changes back in May, to support his prediction.
Bitcoin exchange reserves have experienced a sharp decline from over 2.71M BTC in September 2020, to 2.39M BTC at the lowest point in May 2021. After bottoming out the reserve grew in June and July, before a considerable drop heading into August.
On the other hand, Ethereum exchange reserves have seen a continuous linear drop that saw the ETH reserve amount drop from 26.2M ETH in Aug 2020, to 19.4M on Aug 17th, which signifies a 28% year-over-year decrease and at the same time a renewed two-year low.
According to CryptoQuant’s CEO, who has amassed a community of 230K Twitter followers and has over the years become a renowned figure in the cryptocurrency space, the Ethereum supply shock is more severe as can be deduced from the images of exchange flows above.
Eth2 staking contract, London upgrade and DeFi-related use-cases have shrunk the amount of available ETH
EIP-1599 went live as a part of the London upgrade and introduced Ether burning and thus brought additional deflationary pressure on EHT. Furthermore, with the Ethereum 2.0 upgrade reportedly coming sometime by the end of this year, the number of ETH tokens staked in the ‘2.0’ contract is immense. According to analytics provider Nansen, Eth2 staking contract holds 6.73 million ETH, which are worth more than $20 billion at current prices.
Additionally, there is 9.6 million ETH locked in Aave, Maker, Compound and other popular DeFi protocols, which provide an added layer of pressure on the Ethereum supply. At the moment, Ethereum is retesting the $3,000 support level that was breached on August 7.
Press Release: Molecule, a decentralised biopharma marketplace, has developed a novel IP-to-NFT framework with Web3 technology innovator Nevermined. In a historic transaction, the first biopharma IPNFT was successfully transferred to research collective VitaDAO to fund novel longevity therapeutics at the University of Copenhagen.
18th August 2021, Basel, Switzerland — For the first time in history, NFTs are being used for a transfer of IP ownership in medical research. This unique milestone is a result of a partnership between biopharma IP marketplace Molecule, and VitaDAO, a decentralized collective (DAO) funding longevity research, and the University of Copenhagen. This innovation is enabled by a groundbreaking data storage solution developed by web3 technology innovator Nevermined.
VitaDAO, Nevermined and Molecule Overcome Biopharma Industry Challenges
Early-stage biopharma research is the lifeblood that fuels advances in medicine. However, many domains in biopharma suffer from chronic underfunding or commercialisation challenges that prevent innovation from reaching patients. Legal complexity, illiquidity of IP assets and lack of access to investors contribute to the problem for researchers.
By applying Web3 technology, Molecule is enabling a world where researchers get access to an open marketplace that makes novel research and IP discoverable, universally fundable and distributes ownership. Nevermined’s data storage and access control frameworks create entirely new ways of how the data rights surrounding this IP can be transacted with and accessed.
VitaDAO recently became the first benefactor of this advancement. The collective used Molecule’s protocol and IP NFT framework to acquire IP resulting from longevity research run at the Danish Scheibye-Knudsen Lab and transferred ownership to VitaDAO. Molecule CEO Paul Kohlhaas stated:
“This NFT transfers marks a historic milestone for both the NFT and biopharma space. It’s the first time real-world pharma IP is transacted on a blockchain, while also moving into custodianship of a DAO.”
Combining Legal Frameworks with Web3 Interoperability
The early-stage research phase is plagued by a phenomenon coined the Valley of Death – where funding is hard to obtain, meaning many promising discoveries never make it to market. Molecule is building a marketplace for biopharma IP.
A specialised technical framework combines legal agreements such as IP licenses with the novel technology of NFTs and decentralised secure data storage networks that are coupled with the NFT. By ledgering ownership rights on Ethereum, Molecule is building a marketplace for liquid biopharma research data and IP via NFTs. Researchers and biotechs list their projects and discoveries, receive funding via DeFi and can connect directly with patients. Paul Kohlhaas added:
“IP NFTs could effectively replace patent models and become new value drivers thanks to Nevermined’s data storage frameworks. We hope to enable a myriad of use cases like this, first focusing on longevity and mental health and then broadly becoming a sort of “OpenSea” for Biotech NFTs that helps empower new research organizations like VitaDAO.”
Simultaneously, new vehicles to collaborate and fund research are forming in the web3 space. VitaDAO is a “Decentralised Autonomous Organisation” that collectively funds early longevity research projects via its community contributors. In June 2021, it raised $5 million from hundreds of individuals via a Gnosis batch auction – placing the organisation directly into the hands of its community. Now it is on a mission to finance the most promising longevity research endeavours and decentralise their ownership.
Want to Live Forever? There’s an NFT for That
The complex requirements for storing, transferring and accessing IP-related files require more than just a standard NFT. Nevermined implemented its Access Control module to create NFTs on steroids with Molecule. These novel NFTs enable the transacting parties to engage with the underlying protected research data via federated access control. This use case has a wide range of applications in the pharmaceutical industry.
Nevermind CTO Aitor Argomániz stated:
“Access Control allows creators and owners of digital assets to attach conditions to an NFT. Think of things like pricing, verified users, privacy parameters, etc.. At the same time, it acts as a Gateway to guarantee that only parties that fulfill certain conditions can get access to the underlying documents.”
The module is also cross-tech-compatible. This allows apps to make secure, critical connections between Ethereum, the cloud (e.g AWS) and decentralised hosting (e.g Arweave). This is the only way to guarantee a Certificate of Authenticity with permanence, traceability and privacy built-in..
Media Contact Details Contact Name: Oana Ionescu Contact Email: oana@keyko.io
Molecule is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
CoinZoom, a U.S. based cryptocurrency exchange and leading fintech company, today announced the launch of the CoinZoom OTC (over the counter) Desk offering deeper liquidity and a private, personalized service to institutions and high net-worth individuals needing to fill large orders. The CoinZoom OTC Desk trades in over 140 markets and has streaming liquidity from the largest market makers in the world.
“We’ve seen a lot of interest from Institutions looking to execute major trades,” said CoinZoom CEO, Todd Crosland. “Whether institutions are buying or selling 100, 1,000, or 10,000 Bitcoin our global network of the largest cryptocurrency liquidity providers can fill any sized order. In addition to Bitcoin, we offer trading in over 140 markets. We’re eager to offer this service to those institutions with top tier personalized assistance and security measures.”
In addition to the newly launched OTC Desk, CoinZoom offers Institutional investors CZ-Prime’s FIX integration, where institutions can take advantage of minimal latency, secure connection and full-time access around the clock. Institutions have access to market rates, trading with full order books from CoinZoom’s over 140 markets, and the most popular order execution types.
Clients utilizing the OTC Desk will also be able to earn up to 7.5% APY on their crypto holdings by utilizing CoinZoom’s Earn service.
“We believe our experience in investment banking and digital assets trading along with the technology and security measures we have in place, put is in a unique position to service this group of investors,” Crosland added.
CoinZoom, with customers in 192 countries, is the next generation digital asset exchange that uses the team’s vast experience in providing superb trade quality, customer-focused tools, and technology that help customers become successful traders. CoinZoom offers services in buying, selling, and spending Bitcoin, Ethereum, and over 28 top digital currencies. CoinZoom’s premier product is its CoinZoom Visa card, which allows customers the ability to instantly convert crypto to fiat and spend it at over 53M merchants globally. CoinZoom also offers global customers a premier Peer-to-Peer payments system called ZoomMe. CoinZoom customers can send fiat and crypto anywhere in the world, instantly for free. The team’s decades of experience in financial technology security are equally important in safeguarding customer funds and customers’ digital currency positions. CoinZoom is a U.S. registered Money Services Business with FinCen in all 50 states and territories. CoinZoom is also a U.S. registered Money Transmitter, available for trading in 48 states. CoinZoom also has subsidiaries in Australia and Ireland. CoinZoom Australia PTY LTD is registered as a Digital Currency Exchange with AUSTRAC and CoinZoom Europe Limited, is registered in Ireland.
Boasting one of the top matching engines around, Goldexcoin will facilitate convenient trading features with an order matching speed of 1.6M per second. Traders can complete their crypto purchases through bank accounts, wallets, and visa debit cards to access a bevy of trading options ranging from standard spot trading to advanced options.
Goldexcoin boasts a wealth of experience in building full-scale financial systems with KYC checks as a core part of its security offerings. With over 24 years of experience in the finance sector, the team’s crypto experiences spanning from 2013 enable it to provide streamlined liquidity across several strategic partners to overcome a significant barrier facing illiquid trading platforms.
The team also plans to expand its trading options by onboarding legitimate tokens backed by solid community and liquidity to accommodate its global aspirations to provide multi-language support across key demographics in North America, Europe, and Asia.
GLDX is capped at a maximum supply of 33M and backed by asset algorithms that safeguard against market manipulation. Holders can maximize utility such as payments for all exchange services and platform fees.
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PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS 200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 41 different languages Marketing and community support in 8 key languages
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The deployment on Optimistic Ethereum (OΞ) will help to substantially increase transaction speeds and lower gas fees for 1inch users.
As the 1inch Network continues to expand, the 1inch Aggregation Protocol has been deployed on the OΞ mainnet, an L2 solution on Ethereum provided by Optimism.
“Optimistic Ethereum is a highly promising L2 solution focused on scalability, and the 1inch launch on Optimistic will facilitate a dramatic increase in transaction speed,” says Sergej Kunz, co-founder of 1inch Network.
At the initial stage OΞ’s throughput will be limited to 0.6 transactions per second. However, transactions on Optimistic are set to become faster as the project’s team tests and optimizes its infrastructure as part of a strategy to build a low-cost, high-speed solution perfectly suited for DEX trading.
“It’s been a pleasure getting to know the incredible technical minds on the 1inch team, and now we are so stoked for the launch of 1inch on OΞ,” says Jing Wang, co-founder of Optimism. “This integration brings users the best prices across multiple DEXes at the fastest speeds on OΞ. We couldn’t be more excited for everyone to try it out!”
1inch users can already start migrating assets to the Optimistic network through the Optimism Gateway. OΞ is compatible with a range of the most popular wallets, including MetaMask and WalletConnect, as well as with Etherscan and The Graph.
Deposits from the Ethereum network to the Optimistic mainnet will be instant. But withdrawals from OΞ to Ethereum will take 7 days until a fast withdrawal service is launched.
Meanwhile, moving forward, the Optimism team has plans for further improvements, such as extra scaling, smart wallet EOAs enabling paying for gas in any token and decentralization of the transaction sequencing operation. All these improvements will certainly benefit 1inch users.
Stay tuned for more cool news and updates from the 1inch Network!
With an ever-increasing share of consumers willing to pay for goods and services on online platforms, the security aspect of transactions is getting more and more important
The online gambling industry is uniquely positioned to benefit from a growing number of users who are willing to use cryptocurrencies to pay for goods and services online
Cryptocurrencies protect the consumer from hacking attacks as well as from shady business practices
One of the key features of every blockchain, be it Bitcoin or Ethereum, is the inability of a third party to falsify or in any way tamper with the transaction data stored on the network. The so-called immutability is one of the core aspects of blockchain technology and a cornerstone on which trust in the crypto industry is built upon.
Why is immutability such an important concept?
Over the last decade, but particularly in the time period since the first Covid-19 related lockdowns started, various online businesses experienced a massive increase in user growth. While a growing share of users is not concerned about using credit cards to pay for goods and services provided over the internet, there are some who are still wary of sharing their personal financial information of any kind on the internet, and for good reason.
According to a study conducted by Javelin, about 5% of consumers are victims of fraud incidents ranging from fraudulent account openings to full takeovers of checking and investment accounts. Credit card fraud is especially rampant. Fraudsters may hack a victim’s computer or gain vital personal information via phishing attempts to gain unauthorized access to a credit card account.
“One of the key features of every blockchain, be it Bitcoin or Ethereum, is the inability of a third party to falsify or in any way tamper with the transaction data stored on the network.”
While every kind of business venture that has an online presence can benefit from online transactions being more secure, the gambling industry is uniquely positioned to benefit from the rise of cryptocurrencies and the general populace’s growing willingness to use crypto as a payment method.
The reason for this is simple as the workflow of the gaming industry, such as crypto casinos, highly depends on the security of transactions. In order for an online casino to flourish, users must be in control of their funds at all times and be certain that their funds are safe.
Cryptocurrencies provide a solution on both ends. They offer superior security. Crypto wallets are way harder to crack than conventional online banking accounts. Not only are crypto assets more secure in regards to various malicious attacks, but they also can’t be tampered with by a business with nefarious ulterior motives.
Looking back at the Full Tilt Poker fiasco with a new perspective
One example of a business that definitely had ulterior motives for its customer’s funds was Full Tilt Poker. In 2009, then one of the biggest US-based online poker sites, started showing signs that something shady was going on. Players were reporting missing funds, withdrawals were canceled without explanation and many of the sponsored pros started distancing themselves from the site.
“After “Black Friday” hit, it became apparent that players were defrauded of more than $300 million.”
On April 15, 2011, which later become known as “Black Friday”, the US Department of Justice shut down the online poker sites that were operating within the country’s borders on charges of bank fraud, money laundering and violating the UIGEA. In the following months, it became apparent that Full Tilt Poker was running a sort of a Ponzi Scheme as the site never kept player’s funds segregated and in fact used them for daily business expenses and for paying out sponsorship contracts.
When Black Friday hit, the site was simply not prepared for a massive increase in withdrawal orders, which led to players being left unable to cash out their account balances. The CEO of Full Tilt Poker at the time, Raymond Bitar, was arrested for siphoning more than $430 million from users’ accounts to board members and owners, while the users were left waiting for a cumulative $300 million in withdrawal claims.
Benefits of using cryptocurrencies
If player account balances were stored in cryptocurrencies, a Full Tilt Poker-like scenario would be much harder to unfold. Since blockchain immutability provides the ability to audit all historical transaction data at any point in time, Full Tilt’s inappropriate handling of funds would become known much sooner.
In recent years, we have experienced a growing trend of online casinos implementing cryptocurrency-related solutions into their platforms. While Bitcoin transaction speeds can be a hindrance at times as the network can process only up to seven transactions per second, there are numerous benefits to using Bitcoin instead of fiat.
“Bitcoin transactions are pseudonymous, have no third-party interference and are completely transparent.”
Bitcoin withdrawals are often less expensive than international bank transfers and are usually processed more quickly despite the network’s limitations since they don’t require the bank’s approval, which can often take up to several business days. Additionally, Bitcoin transactions are pseudonymous, have no third-party interference and are completely transparent.
Due to a long list of benefits, many well-established businesses, such as Tesla, PayPal, KFC and many others have started accepting Bitcoin payments over the last couple of years. Going forward it is all but certain that the list of major companies that accept Bitcoin will continue to grow.
Bitcoin Press Release:1xBit is inviting its users to become part of an exciting experience at Endorphina and take part in Endorphina’s Splash, a competitive tournament that will leave even the most serious and high-stake slot players in awe.
17th August 2021, Limassol, Cyprus — Endorphina is an online casino that believes in both luck and strategy, by offering one of the most enjoyable, rewarding platforms in the digital space.
Endorphina’s Innovative Standards
Being one of the most reputable slot providers in the industry, players can expect slot games to be innovative, accurate, and satisfying. The slots are made using the latest technologies, rich graphics, and optimized gameplay so that games operate well across all devices.
The games developers also take the time to understand different cultural interests across the globe, which explains their diverse range of slot games. From Book of Santa and Satoshi’s Secret to Slotomoji and Taboo, there is bound to be a game that will excite all types of players.
Play Splash at 1xBit Casino
At 1xBit, Endorphina is at its best with its immersive games, and now invites everyone to plunge into this refreshing experience and put your skills to the ultimate test – feel the excitement of the Endorphina Splash tournament!
In order to participate, just play any slot game by Endorphina. Take your time to browse through their massive collection, try out games that intrigue you the most, and play them to collect tournament points. The more points you get – the higher your prize is!
1xBit will reward players resilience and consistent gameplay with the following rewards: – 1st place – 50 mBTC – 2nd place – 20 mBTC – 3rd place – 15 mBTC – 4th place – 10 mBTC – 5th place – 5 mBTC
More Offers from 1xBit
At 1xBit, we are always looking to improve our user’s gameplay experience. Here are only SOME of the benefits we have to offer: – Welcome bonus. All newcomers can claim up to a 7BTC welcome bonus for the first 4 deposits. – Instant payouts. You don’t have to worry about waiting around to have your transactions or funds processed. You get to access instant payouts! – VIP cashback. Didn’t win? No problem! You can still count on the 1xBit casino cashback that goes up to 11%.
1xBit is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
Walmart, the world’s biggest retail corporation with over 10,000 stores and more than 2.2 million employees spanning across 24 countries, is looking for an expert capable of leading the company’s nascent cryptocurrency department.
The position will be instrumental in building Walmart’s “digital currency strategy and product roadmap” and will be responsible for overseeing “crypto-related investments and partnerships,” according to Linkedin post.
The company is looking for someone with at least 10 years worth of experience in a similar role and with exhaustive knowledge of the cryptocurrency industry and blockchain technology.
Walmart thus becomes the latest Fortune 500 company to embark on the cryptocurrency train.
The pace of news about institutional investors and celebrities getting involved with crypto seems to be rapidly increasing. Whether it is Wells Fargo providing Bitcoin exposure to wealthy clients, or famous athletes like Mike Tyson launching an NFT collection, the general acceptance of crypto is steadily growing.
Bullion custodial service Cache Gold and its CGT tokens backed by 1 gram of physical gold are now trading live with a BTC market on ProBit Global which currently accommodates nearly 35% of all CGT volume.
With the bullion market currently at $11.391 T, Cache Gold targets the significant overlap between gold and digital asset markets through cost-efficient services including tokenizing gold deposits and facilitating CGT token redemptions to alleviate the myriad issues related to transporting, insuring, and storing physical gold.
Gold holders can physically exchange their assets at partnering vaults The Safe House and Silver Bullion through the transfer in feature to receive the equivalent amount of CGT.
A key feature behind Cache Gold’s ability to accommodate the intersection of gold and cryptocurrency is the Proof of Reserve asset tracking system, which ensures that the circulating supply remains in step with the actual assets held in physical vaults throughout Singapore, Switzerland, and the US.
Powered by Chainlink, the Locked Gold Oracle performs a set of checks and balances to ensure that the amount of gold locked on the freight tracking platform Gramchain reflects total reserves which currently holds 71.673K grams valued at $4.136 M.
Cache Gold’s explorer displays a wealth of information such as RFID and serial ids, photos, valuation, custodial information, purity, and other key metrics to provide a level of unmatched transparency in comparison to legacy solutions.
ABOUT CACHE GOLD CACHE Gold Token (CGTX) transparently combines the unique qualities of gold with the benefits of a modern crypto asset. Fully backed, redeemable, regulated and with worldwide liquidity, one CGT represents 1 pure gram of gold. https://cache.gold
ABOUT PROBIT GLOBAL ProBit Global is a Top 20 crypto exchange worldwide servicing crypto enthusiasts with unlimited access to trade and buy Bitcoin, Ethereum and 600+ altcoins in 1000+ markets.
PROBIT GLOBAL IS A BRAND TRUSTED BY MILLIONS OF USERS 200,000+ community members 1,000,000+ monthly active users 3,000,000 monthly web visitors 50,000,000 users on partnering aggregators and wallets such as CoinMarketCap User interface of Multilingual website supporting 41 different languages Marketing and community support in 8 key languages
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