NFL Star Tom Brady Determined To Stake Big In The Crypto Field

The crypto bug is seemingly proving to be having a big bite on the sports industry as Tom Brady joins other sports celebrities pursuing a dream in the blockchain sector.

The quarterback of the Super Bowl champs – Tampa Bay – had for weeks indicated his enthusiasm, through several tweets about crypto before declaring his intention now to be a “pioneer” in the industry.

The Super Bowl GOAT had for a few days back told the media that he’s a “big believer” in cryptocurrencies. Also, he further disclosed he had acquired some digital coins, which he declined to reveal when asked which ones specifically.

Sports Personalities Delving Into Cryptocurrency Sector

The announcement has made this sports personality the latest entrant into the crypto-world.

This development is coming a few days after a prominent and controversial former batsman from England – Kevin Petersen – affirmed that he’s “getting closer & closer to joining the #bitcoin world.”

Related Reading | Top English Cricketer Kevin Pietersen Acknowledges Bitcoin (BTC)

Similarly, one Shoaib Akhtar, an ex-Pakistani cricketer, had before then launched the world’s first cricket-centric NFT marketplace about two weeks ago.

The FTX Company 

Following his latest crypto activities, Tom Brady has been appointed a brand ambassador for FTX. The FTX is a US-regulated cryptocurrency exchange built from the ground up.

It is a company bent on growing the digital currency ecosystem, offering the US and international traders a platform that inspires their loyalty, and becoming the market-leading US-regulated cryptocurrency exchange.

Tom Brady Met Sam Bankman-Fried

Today, during a Q&A on Twitter that the company mainly organized to promote his new role as their brand ambassador, the experienced quarterback talked with pomp over his latest partnership with the crypto exchange. But unfortunately, he also dismissively belittled the threat of the recent market doldrums.

Related Reading | Blockchain Caucus Co-Chair: Government Needs The Ability To Reverse Transactions

On being asked by his host Sam Bankman-Fried, about what exactly his recent exodus of tweets on Twitter were driving at, “I want to be a pioneer in this field,” Brady revealed.

Host Sam Bankman-Fried is the founder and CEO of the US-based digital currency company.

What Attracted Brady?

In the half-hour-long dialogue with the CEO, Brady assessed his current adventure into the blockchain industry. He equally revealed why he had chosen the FTX over others.

He revealed a “charitable mission” adoption, given the rapidly growing crypto exchange.

Indeed, a fact check shows the US-regulated exchange has obliged to donate 1% of all “net fees” to charity and has thus far put up $10 million from the pledge.

“I got a call from a guy I work with who has a lot of great knowledge about this space. He said, “I think this would be something you would be interested in.” Brady, talking about how he was intrigued to start digging into the company.

The results were his investment into the company and the ensuing ambassadorial reward, he said.

Brady, however, never ceased to give more significant credit on FTX’s charitable project, which he said endeared the company to him the most.

Tom Brady Excited To Partner With’ Charitable’ FTX

“I’m excited about the endless possibilities that we have to create things together,” Brady said, as he revealed how exciting it is for him to partner with FTX in giving back to the communities, the planet, and spreading the crypto knowledge.

The 43-year-old super bowl’s “greatest of all time” revealed his new role at FTX is inclusive of his wife.

He explained she would be working primarily on the charitable part of the partnership. She will help determine which charities to fund with the money the FTX continues to raise, Brady revealed to Sam Bankman-Fried.

Super Bowl Star Tom Brady Determined to Stake Big in The Crypto Field
The Bitcoin chart shows bears are forcing BTC to remain sluggish  | Source: BTCUSD on TradingView.com

Undoubtedly, the cryptocurrency sector is appealing and it’s gaining traction at an impressive pace. As the most renowned sports personalities show interest in Bitcoin and other digital assets, the prices are expected to skyrocket in the near term.

Featured image from Tom Brady's Twitter, Charts from TradingView.com

Bitcoin proponent Max Keiser sticks with $220,000 BTC price prediction by 2022

Bitcoin advocate Max Keiser said his price target for this year remains at $220,000, despite the FUD that has crept in over the past couple of weeks.

On that, Keiser added that volatile downswings in Bitcoin are part and parcel of its nature. But on higher time frames and over its 10+ year history, it has still provided 200% annualized gains.

Keiser guarantees Bitcoin will increase your purchasing power

Speaking about the recent crash, particularly the apparent sway held by Elon Musk to tank markets, Keiser said significant corrections are normal. Adding that the most recent one is “nothing special.”

“We’ve been doing this for ten years, we’ve had fifteen of these corrections over the past twelve years, and this current one is an average one. Nothing special. Number two, it always shakes out the weak hands…”

What’s more, Keiser points out that hodling any asset through down periods is difficult when the knives are out. He gave the example of buying Apple stock in the late-90s after the price had crashed. At the time, investors held a negative opinion of Apple. But in the long run, it turned out to be a good investment.

Keiser gave a similar account regarding Amazon, saying, in its time, $AMZN has also gone through 60%-70% corrections in its way to being one of the most valuable companies globally.

However, the critical thing to consider with Bitcoin is purchasing power, which Keiser said is guaranteed to increase over time. Unlike fiat money, which does offer stability but at the cost of decreasing purchasing power.

“So, volatility in Bitcoin is something we want because it’s a tradeoff we accept, because holding fiat money means you have stability but you’re guaranteed to lose purchasing power.

Holding Bitcoin is volatile but you;re guaranteed to increase purchasing power.”

It’s part of my act

Keiser has always been a larger-than-life character that has drawn criticism for his passionate displays. This was demonstrated during the recent Bitcoin Miami Conference.

One such instance was a video in which he tore up money while ranting about government corruption.

Setting the record straight, Keiser said that the video was actually from two years, in San Francisco, and not during the recent Miami Conference. He then said it’s all part of his act to hammer home the point that fiat is “worthless garbage.”

“I’ve ripped up money like that many many times. I think I’ve ripped up close to $50,000 over the years, it’s part of my act where I typically enter ripping up dollars… so people can understand that they’re worthless garbage.”

Love him or hate him, Keiser’s presence in the crypto space provides an element of performance that sets tongues wagging.

As for his $220,000 price prediction, a 6x move from here seems improbable. But then again, stranger things have happened in crypto.

The post Bitcoin proponent Max Keiser sticks with $220,000 BTC price prediction by 2022 appeared first on CryptoSlate.

Top Analyst Says He’s Bullish on Ethereum and Cardano – But Another Altcoin Is Looking Stronger

Cryptocurrency analyst and YouTuber Jason Pizzino is considering several crypto assets as the market bounces off of its recent lows.

Pizzino tells his 190,000 YouTube subscribers that he’s bullish on Ethereum in the long run, although he expects ETH to drop against Bitcoin in the near term.

 

“ETH, it’s one of those ones I’m happy holding…

I still think it’s got a little further to fall. It is starting to slow. I wouldn’t be so surprised if I saw a little bounce here, maybe to 6%, maybe further just to come up and test these lows again before it keeps trickling down.”

The YouTuber says that Cardano (ADA) is also on his radar given that it maintained its value better than other altcoins amid the selloff.

“Cardano is looking strong. This is one of those tokens, one of those cryptos that I would be looking at purchasing if I see a base begin to form before other cryptos. Like I said, I’m not going alt shopping, but ADA is definitely high on the radar considering how strong it has been holding up.”

Pizzino says Solana (SOL) is looking even stronger than ADA, as it has held onto its BTC value since May 15th.

“SOL/BTC is dead on the same as it was on the 15th. So we haven’t lost any Bitcoin value from that [point]… That’s strong in my opinion, and like I mentioned earlier, there are now some alts which I would consider beginning to dollar cost average into.

Solana is one of those. Cardano is potentially another, but Solana looks a little stronger here. ETH is potentially another, but I’m still waiting on that.”

 

Pizzino says he is also eyeing the utility token of the Binance cryptocurrency exchange, Binance Coin (BNB).

The cryptocurrency analyst argues that it “is a good sign” that Binance Coin on the US dollar chart (BNB/USD) is currently above the 0.618 level on the Fibonacci indicator despite having fallen by around 50% since May 15th.

“Binance, it is down 50% from the 15th. Down around 50%… It is starting to find some support at the previous re-accumulation zone before it took off to its last top. Potentially [it] could break further. I’m just pointing out the obvious here that you can see it is starting to hold up. And we’re also on our 61% level which is a good sign.”

The Fibonacci indicator is a tool used by many traders to highlight levels of interest during market pullbacks. Traders often see signs of strength in an asset if it manages to stay above the 0.618 level in times of market corrections.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto miner claims all major Yunnan operations shut down in advance of CCP anniversary

It's unclear if the shutdowns are due to orders passed down from above or the result of China's announced regulatory crackdown on crypto miners.

Reports alleged that cryptocurrency miners in China’s Yunnan province may be out of commission for a day if not longer due to the Chinese Communist Party’s 100th anniversary celebration this week.

According to Kevin Zhang, the vice president of mining infrastructure company Foundry Services, all major Bitcoin (BTC) mining farms in Yunnan have been shut down as of today. Zhang said he personally knew of at least two crypto mining sites in the southwestern region that had received orders to cut power.

The shutdowns are purportedly due to the impending Chinese Communist Party, or CCP, celebrations, which occur every year on July 1. Due to this year’s anniversary being a centennial, authorities seem to have taken stronger measures to ensure less pollution — China ranks as the 14th worst country in terms of air quality — traffic, and political demonstrations. Major industries including coal mining and steel production will reportedly be shut down for up to a week in an attempt to reduce urban smog and prevent accidents.

However, it’s unclear if the CCP anniversary is directly related to the shutdowns or Chinese crypto miners are responding to an ongoing regulatory crackdown. The State Council’s Financial Stability and Development Committee announced in May it would be curtailing BTC mining amid financial risk concerns. Several reports have surfaced since that time suggesting authorities are enforcing crypto mining bans in regions including Yunnan, Xinjiang, Inner Mongolia and Qinghai.

Related: China crackdown shows industrial Bitcoin mining a problem for decentralization

While some companies have said the mining ban is driving them to other provinces within China, a few may leave the country entirely. Many experts in the crypto space expect the regulatory crackdown will push mining firms to relocate to Texas, with abundant renewable energy and a highly deregulated power grid.

Here’s why pro traders expect further downside from Ethereum price

Ethereum's EIP-1559 upgrade is fast approaching, but derivatives data shows traders are less than optimistic about ETH's short-term prospects.

Derivatives data shows that Ether (ETH) traders are feeling less bullish when compared to Bitcoin (BTC). Even though the altcoin captured a nearly 200% gain in the first half of 2021 versus Bitcoin's modest 22% price increase, traders seem to be more affected by Ether's recent underperformance.

Institutional flow also backs the decreased optimism seen in Ether derivatives, as ETH investment vehicles suffered record outflows this past week while Bitcoin flows began to stabilize. According to data from CoinShares, Ether funds experienced a record outflow of $50 million this past week.

Ether (orange) versus Bitcoin (blue) prices. Source: TradingView

Take notice of how Ether is underperforming Bitcoin by 16% in June. The London hard fork is scheduled for July, and its core proposal — dubbed as EIP-1559 — will cap Ethereum's gas fees. Therefore, the price action could be related to unsatisfied miners as the network migrates out of Proof-of-Work (PoW).

For this reason, Ether investors have reason to fear because uncertainties abound. Perhaps miners supporting a competing smart-contract chain or some other unexpected turn of events could further negatively impact Ether price.

Whatever the rationale for the current price action, derivatives indicators are now signaling less confidence when compared to Bitcoin.

Ether's December futures premium shows weakness

In healthy markets, the quarterly futures should trade at a premium to regular spot exchanges. In addition to the exchange risk, the seller is 'locking up' funds by deferring settlement. A 4% to 8% premium in the December contracts should be enough to compensate for those effects.

A similar effect occurs in almost every derivatives market, although cryptocurrencies tend to present higher risks and have higher premiums. However, when futures are trading below this range, it signals that there is short-term bearish sentiment.

OKEx BTC (blue) vs. ETH (orange) December futures premium. Source: TradingView

The above chart shows the Bitcoin December futures premium recovering to 3.5% while Ethereum contracts failed to follow. While both assets displayed a neutral-to-bearish indicator, there's evidence that the altcoin investors are less optimistic about a short-term recovery.

Related: Key Bitcoin price indicator flashes its 'fifth buy signal in BTC history.'

Another leg down will do even more harm to altcoins

Another thesis that could negatively impact Ether's premium is the impact of a potential negative 30% performance from Bitcoin. Filbfilb, an independent market analyst and the co-founder of the Decentrader trading suite, said that a 30% crash in the Bitcoin could prompt altcoins to drop twice as hard.

Clem Chambers, the chief executive of the financial analytics website ADVFN, also predicted another potential leg down, which would repeat the late-2018 crypto winter period. Chambers claims Bitcoin could capitulate and fall back towards $20,000.

While the overall market sentiment is neutral-to-bearish, it seems sensible to predict a more daunting scenario for Ether, including uncertainties from the transition to Proof-of-Stake (POS).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

House committee reviews cryptocurrency risks, regulations in hearing

A panel of expert witnesses and members of congress discussed the risks and rewards of cryptocurrency in committee Wednesday.

The U.S. House committee on financial services held a hearing Wednesday for legislators and a panel of witnesses to discuss cryptocurrency regulation in the United States.

The subcommittee on oversight and investigations invited expert witnesses to testify before congress on the risks and opportunities of blockchain technology.

Rep. Brad Sherman (D-MN), a ranking member of the House Financial Services Committee, was not keen on the idea of investing in cryptocurrency to save for retirement:

“Cryptocurrencies are highly volatile, so if one person makes a million dollars and retires at age 45, and nine lose $100,000–– Coinbase makes money, and one millionaire goes on TV and says how wonderful it is, and nine others do not retire with dignity, but instead become eligible for Medicaid.”

He also quipped that the California lottery would make a better “bet” than blockchain: 

“Cryptocurrency is something you can bet on, but if people want to have the animal spirits to take risk, I’d prefer they invest in equity markets to support the building of American companies, or the California lottery to support the schools in my state.” 

But Rep. Tom Emmer (R-MN), another senior member of the committee, was more concerned that regulatory interference was preventing Americans from benefitting fully from crypto entrepreneurship:

“Over the last few years I’ve been fortunate to meet with many great crypto and blockchain innovators. A common refrain during our discussion is that they so badly want to develop their crypto and blockchain ideas right here in the United States. But they don’t because of continuing uncertainty with crypto regulation.”

Hard-learned lessons from the 2008 financial crisis seemed to loom large over the statements made by witnesses and members of congress. That year’s subprime mortgage crisis in real estate lending quickly spilled over into adjacent financial sectors.

When it did, a wild array of innovative–– and unwieldy–– new financial instruments wiped out huge swaths of investors and plunged the entire U.S. economy into a recession.

The structural instabilities and excessive euphoria that characterized this period’s runaway growth of new securities derivatives were exacerbated by massive amounts of leverage.

Recent years have seen the rapid proliferation of new ventures and technologies to support and expand the capability, use, exchange, and “hodling” of cryptocurrencies— and the blockchains that maintain them. Some lawmakers and regulators fear it’s like the runup to 2008 all over again.

Efforts to regulate blockchain technology, and mitigate the risks involved when trading them as securities, are a confusing patchwork as lawmakers scramble to understand the new technologies and the industry that’s building them.

Not all federal legislators are wary of crypto. Some even endorse them. In a recent CNBC interview, U.S. Senator Cynthia Lummis (R-WY) said she hopes to see bitcoin as a normal part of a diversified retirement portfolio to hedge against inflation. And earlier this month, the National Republican Congressional Committee began accepting crypto donations for campaign funds.

Coinbase to Launch Apple-Like Crypto App Store

Coinbase to Launch Apple-Like Crypto App Store

Cryptocurrency exchange Coinbase has unveiled its plan to build “the crypto app store,” inspired by how Apple Inc. built its app store. CEO Brian Armstrong said: “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps.”

  • In a blog post published on Tuesday, Coinbase CEO Brian Armstrong detailed several opportunities in the crypto space the Nasdaq-listed company is pursuing. One of them was to “Build the crypto app store.”
  • The CEO detailed, “Like the internet, or the mobile app stores, we’re seeing developers rush into the space to use these new tools to develop innovative use cases that we couldn’t have imagined before,” adding:

Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps … We’ll work to give our users easy access to all of this from the main Coinbase product.

  • Armstrong stressed: “We need to do the same [as Apple] in crypto. There is now 10s of billions of dollars of economic activity running on Dapps, and a new trend coming out every three months.”
  • He further shared:

Soon any app built on decentralized crypto rails will be accessible to users of the Coinbase app … In the future you will have the option to do self-custody of your crypto, right in the main Coinbase app.

What do you think about Coinbase launching an Apple-like app store? Let us know in the comments section below.

Ripple Hires Former Mastercard Exec to Expand Its XRP-Powered Solution RippleNet

Fintech giant Ripple has hired former Mastercard executive Sendi Young as Managing Director of its European operations in a bid to expand Ripple’s global financial network technology RippleNet, which uses the XRP token for its On-Demand Liquidity (ODL) solution. In a blog post, Ripple detailed that Sendi has over fifteen years of experience in fintech, […]

U.S Senator Spots Major Loophole Following China’s Bitcoin Mining Crackdown, But Will The U.S Tap In?

Canada’s Largest Green Bitcoin Mining Firm Expands Public Trading With Nasqad Listing

Cynthia Lummis, a US senator representing Wyoming recently took to Twitter to express her opinion on the recent developments with China-based miners, who have relocated. She called the actions of the Chinese government a serious mistake, while also noting that their actions are a huge opportunity for the USA, that is if more people in government understood digital assets. “…but we must be careful not to make equally stupid mistakes in our handling of financial innovation” she added, advising the US government to really reconsider its attitude towards cryptocurrencies. 

In what is being described as the biggest infrastructural relocation experienced in any industry, Bitcoin miners shut down in China have been making their way to other countries with a more welcoming environment. 

Following the massive crackdown by the Chinese government on Bitcoin miners in the country, they have been forced to find greener pastures to establish their businesses.

While a number of them found their way to China’s nearby neighbor, Kazakhstan, a lot of them are beating a path to the USA, as well as Central Asian, Northern European, and Eastern European nations according to a CNBC report.

Notably, the places the miners are choosing to relocate to are being guided by energy costs. Bitcoin mining is an energy-consuming process, so for the miners to be competitive they need access to a cheap electricity supply. Several US states can easily pass these criteria, and reports have shown that miners are already making moves in their direction.

The benefits for the USA, or any other country that chooses to accommodate the Chinese miners, could be enormous if they take the opportunity presented by the situation. The capital investment could be very incentivizing. Also, the benefits for the power grids could include more efficient energy use as well as increased revenue, not forgetting the jobs that will be created as well.

However, one point can be raised against the US in its uncertain policies for cryptocurrencies. Chinese miners might be wary of the political climate of the USA towards crypto.

Already, several US states have shown interest in welcoming the Chinese miners and have openly extended invitations to them. Texas, Florida, Maryland, and Wyoming have all started their interest. Texas has the cheapest electricity rate of the bunch, though their power grid has been described as fragile. Despite that, it has been reported that several big mining companies have relocated to Texas including Bitmain, Blockcap, Argo Blockchain, Great American Mining, Layer1, and Riot Blockchain. 

With the current situation of things, the US can position itself to become the new hub for Bitcoin mining. However, to solidify their position, there is still work to be done. The regulatory environment for Bitcoin has already been created in several states, but at the federal level, Bitcoin still needs advocates.

Notably, with personalities like senator Lummis championing the course of Bitcoin more progress may be made toward greater adoption. Lummis earlier in May proposed an amendment to a bill to include blockchain technology in the US government’s prioritized projects in the next few years.

Rep Warren Davidson Wants Clear Crypto Regulation

Warren Davison is a Republican congressman from the state of Ohio. He serves as a ranking member of the Financial Technology Task Force and recently took part in two panels at the Miami Bitcoin Conference where he discussed the prospects of a central bank digital currency and what it should offer its users.

Davidson On the Status of Blockchain Tech

He says that any kind of digital currency should always offer security, privacy, and everything else that fiat provides. In a recent interview, he discussed his role with the task force and what the organization can potentially do for bitcoin and blockchain technology in the future. Davidson said:

The FinTech Task Force is a temporary subcommittee on the House Financial Services Committee. Its purview includes most emerging technologies in finance and the goal is to provide regulation and oversight that helps America maintain its position as the country that attracts innovators and entrepreneurs. Payment systems are facing dynamic innovation. Cryptocurrencies – and blockchain more broadly – show some of the greatest promise for revolutionizing finance and the way we live and so play a role in how the task force considers the future of finance.

Contrary to so many other analysts and alleged industry experts, Davidson is convinced that the blockchain space needs solid regulation if it is to ever expand and jump beyond where it is today. He believes that government agencies need to step in and make sure that the crypto space follows set rules to keep both businesses and traders safe. He comments:

We absolutely need a regulatory regime to clarify cryptocurrencies. The status quo is regulation by enforcement, where companies find out they have violated SEC regs when they get a demand letter. This uncertainty discourages investment in the United States. Clarifying regulations would give the US more of an advantage, because right now crypto investors are building their companies in other countries with more certainty. We want investment, innovation, and operations here. Regulatory clarity is also essential to protect consumers and investors. The absence of clear policy or regulation is being exploited by fraudsters, so failure to act is failing average consumers and investors.

These Stimulus Bills Aren’t Helping

Aside from his stance on bitcoin and digital currency technology, Davidson was also quick to take a stab at the status of the U.S. dollar. He says it is no longer sound money given the amount of stimulus bills Congress has produced. This, he says, has led to inflation because the government is spending more than what lenders can give. He states:

The Federal Reserve and Congress are destroying the value of the U.S. dollar and jeopardizing its status as the global reserve currency by spending more money than anyone will lend. To close this gap, the Fed is simply creating more money [and] increasing the supply of money.

The post Rep Warren Davidson Wants Clear Crypto Regulation appeared first on Live Bitcoin News.

Triall: Bridging the Gap Between Medical Research and Blockchain Technology

The COVID-19 pandemic has ravaged the global economy, leaving many industries re-evaluating the robustness of legacy models in times of crisis. Unsurprisingly, one of the most impacted industries has been the global healthcare industry, as governments raced to test for, treat and develop a vaccine for the fast-spreading virus. Whilst, on the whole, the testing regimes, treatments and vaccination programs have been somewhat successful in developed countries (especially the United Kingdom and Israel), existing pain points in pharmaceutical research and development have exacerbated delays according to a number of experts.

Namely, the clinical trial industry, a sector responsible for testing the safety and efficacy of new vaccines and therapeutics before these enter the market, is currently hampered by various inefficiencies. The pandemic has exemplified the need for solutions to tackle these inefficiencies and thereby help ensure an efficient influx of new medicines.

This is where Triall enters the scene.

Triall is building a global digital ecosystem for clinical trials. Capitalizing on both the rapid digitalization of healthcare and the technological advances in the blockchain and crypto space, Triall is applying blockchain-based technologies to a sector that has become increasingly complex, data-heavy and fragmented over the past decade.

Increasing Costs and Longer Development Timelines

Clinical trials are integral to the healthcare industry’s response to new and existing diseases and viruses. They involve a number of industry stakeholders, including pharmaceutical companies, contract research organizations, and hospitals, as well as external parties such as governments and regulators.The clinical trial industry plays a crucial role in ensuring that society’s unmet medical needs can be addressed, inside and outside of crisis situations like the COVID-19 pandemic.

However, the clinical trial process is currently fraught with complexity and resource-inefficiency which artificially lengthens development timelines. There are several notable reasons for this, including:

  • Fragmentation: Data is scattered across sites and systems.
  • Oversight issues: Clinical trial professionals experience a lack of oversight over their clinical trial processes and activities.
  • Inefficient record-keeping: There is no efficient and universal way to manage and store data, causing significant delays and safety risks, as well as increasing costs.
  • Data integrity issues: There are a growing number of data integrity issues being uncovered during clinical trial inspections according to the World Health Organization (WHO).
  • Low patient engagement: As much as 85% of trials fail to retain enough patients which also leads to costly delays.

Indeed, the data show that these problems are only getting worse, with the cost of clinical trials increasing up to 9% per year on average. More shockingly, the sector suffers from a development success rate of just 11%.

Upgrading Global Healthcare with Technology

Triall’s innovative new platform is laser-focussed on resolving these critical issues and shortening the time to market of new medicines. The company is building a global ecosystem for clinical research professionals that crosses organizational boundaries and domains. Participants in the platform include: clinical research professionals, medical staff, patients and software developers, as well as other contributors and maintainers such as blockchain engineers and node operators.

Fundamentally, the platform allows for the efficient exchange of clinical trial data leveraging blockchain-enabled technologies and open standards for identity and access management. Triall will implement Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) to integrate the severely fragmented landscape of industry stakeholders in the clinical trial sector. As a result, Triall’s platform will ensure clinical trials can be conducted smarter, safer and more-efficient due to more closely integrated workflows.

Speaking about Triall’s driving philosophy, the company’s CEO, Hadil Es-Sbai had this to say:

“We believe state-of-the-art Information Technology and scientific insights make a difference. Our passion lies in advancing clinical development, consolidating the unconnected, and fostering a global ecosystem that promotes trust and reliability throughout all phases of clinical development.”

The Future of Clinical Trials

Combining this driving philosophy with the rapid digitization trends resulting from the pandemic, Triall is positioned to take a leading role in revolutionizing the clinical trial space.

In addition to its unique approach, Triall also leverages a breadth of experience in the field. The Triall team has managed over 100 clinical trials in more than 30 countries. Accordingly, the company has curated a strong and global network of stakeholders that will be instrumental to driving its platform’s development. Moreover, with 250+ peer reviewed papers published in various top-tier scientific journals, Triall also brings a wealth of academic knowledge, combining academic experts from several medical disciplines that support the shaping of its platform’s features. These include experts on topics such as immunology, infectious diseases, vaccinology, microbiology, eHealth technologies, drug and vaccine development.

Finally, Triall is already more than just a proof of concept. Its first application Verial eTMF, a blockchain-integrated document solution, was piloted in the summer of 2019. According to the team, this was the world’s first implementation of blockchain in a live and running clinical trials. The commercial version of Verial eTMF is now being onboarded in 6 clinical trial projects around the world. Indeed, this serves as the ultimate mark of validation, from both the market and industry.

For more info on how Triall is bridging the gap between the healthcare and crypto domains, visit their website here


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Indian Investors Are Toppling Their Counterparts And Spearheading Crypto Adoption In Asia

Coinbase’s plan to establish an outpost in India may clash with anti-crypto laws

Indians are favoring investing in cryptocurrencies as data has shown that crypto investments in the country have surged significantly in the past year.

According to our recent report, data from Chainalysis has shown that crypto investments in India have grown approximately 900%. The volume of Indian cryptocurrency trades which was valued at $200 million 12 months ago, is currently valued at $40 billion.

Furthermore, the report also noted that though Indians most commonly invest in gold, the 18-35 demographic of India were showing more interest in investing in cryptocurrencies, as the investment process is way simpler compared to investing in the precious metal. 

The phenomenal surge in crypto investments is commendable for India, especially in light of all the uncertainty surrounding the regulation of cryptocurrencies in the country.

It’s not news that the Indian government along with the Indian Reserve Bank (IRB) have been going back and forth with their stances on crypto-assets. Earlier in March, it was revealed that India was to propose a major cryptocurrencies ban that would make the possession, issuance, mining, trading, and transferring of crypto-assets illegal in India. If the bill sees the light of day, India will become the first country to make being involved in cryptocurrencies a crime. 

Also, In 2018, the RBI banned local banks from relating with cryptocurrency exchanges and facilitating crypto-trading-related transactions. Most recently though, it seems to have taken a different stance as it asked banks to resume facilitating crypto-related transactions. So far, banks have refused to follow the new directive.

Sathvik Vishwanath, the CEO, and co-founder of cryptocurrency exchange Unocoin who believes that banks taking a step back into serving crypto firms might be detrimental for investors is quoted saying:

“While RBI has clarified its stance that the banks can provide services after their due diligence, it is abruptly insane for these banks to take their foot back. These kinds of reactions also alarm the investors of cryptocurrencies for the wrong reason.”

Despite all these developments, investors are hopeful the government will come around to support cryptocurrencies in the long run.

With most countries’ governments giving mixed signals about cryptocurrency regulation, the defiant reaction from Indians to their governments’ back and forth reinforces the narrative that the country’s citizens are spearheading cryptocurrency adoption at a faster rate in Asia, than many of their counterparts.

The future of Cryptocurrencies in India seems to be promising and as residents have been chanting for months “Indians want Crypto.”

Coins Driver: A DeFi Exchange Platform Announces Commencement of Public Sales

Coins Driver: A DeFi Exchange Platform Announces Commencement of Public Sales

Coins Drivers, a power exchange decentralized finance platform that services retail and institutional investors has announced in a recent press release, the commencement of its public sale.

With the speed at which cryptocurrencies seem to be gaining gross acceptance and approaching mainstream adoption, Coins Drivers in its amazing DeFi and exchange services considers it necessary to introduce the public sale of its native token dubbed $CODS.

According to the announcement, the public sale for $CODS had begun a few days ago, being the 22nd of June, and was built on Binance’s BEP-20 standard.

Hence, the first phase of the public sale offering would continue until June 31st, 2021.

Coins Drivers Provides Top-Notch Services to Retail And Institutional Traders

In a bid to service retail and institutional traders and investors in the best way possible, the platform seeks to integrate all forms of assets belonging to both retail and institutional users into a unified blockchain.

This way it can initiate a secure, useful, and easy-to-use model which would support the integration of easy cryptocurrency payments and a digital arbitration system.

This distinguishes Coins Drivers from other exchanges of its kind as they provide separate entities for retail and institutional traders and investors.

Coins Drivers adopts a model that solves issues of discrimination between both users (retain and institution), as it equalizes all users regardless of their trading or investment capacities. Thus, portraying a decentralized mode of operation.

Coins Drivers adopts a mechanism that supports diverse kinds of transactions with cryptocurrencies. More so, it supports these transaction diversities with high security and low transaction costs.

More precisely, it offers its customers the access to perform high-volume transactions with speed and zero form of interruptions, alongside low transaction costs.

Following the public sale, the platform revealed there will be a total of 200,000,000 tokens up for grabs. Hence urging users to acquire the token.

“Users can pay in the top three cryptocurrencies namely ETH, USDT, and BNB to buy the $CODS token,” it further explained.

TeraBlock partners with Binance Cloud to deliver industry-leading technology, liquidity, and security solutions to users

TeraBlock Partners with Binance Cloud to Make Ease and Secure Crypto Trading

TeraBlock, a cryptocurrency trade automation exchange, has now joined forces with Binance Cloud, a comprehensive open-platform solution that facilitates the building and launching of cryptocurrency exchanges. Binance Cloud accomplished this function by leveraging modern technology, liquidity, and security.

With the partnership, TeraBlock will be able to stay focused on enterprise development in addition to its operations. Binance Cloud will take over TeraBlock’s exchange technology creation and maintenance. It will also handle user registration and security which ensures safe trading around the clock. Lastly, Binance Cloud will handle TeraBlock’s liquidity, thereby keeping the exchange from suffering from liquidity issues as many start-ups do in the early stages.

Shivam Tandon, CEO, and founder of TeraBlock expects the platform to attract new users into the cryptocurrency ecosystem.

“After announcing the successful completion of our recently conducted IDO on BSCPad, our users will benefit directly from the Binance Cloud partnership. The upcoming TeraBlock exchange, powered by Binance Cloud, enables our users to experience the better trading depth, security, and transaction speed,” Tandon said. “We hope to bring a renewed interest and experience like never before to the crypto space,” he added.

TeraBlock has a user-friendly interface for managing and trading digital assets with state-of-the-art technology. It was designed to become a one-stop solution for crypto newbies where they can purchase sell, hold, exchange and manage their crypto assets.

Through machine learning-driven algorithms, the platform protects users from the adverse effects of market volatility. The algorithms also enable TeraBlock to provide crypto asset managing tools for both inexperienced and advanced traders. Personalization of an automated crypto portfolio further enables these functions.

TeraBlock platform is powered by TeraBlock Token (TBC) through which funds were raised to the tune of $2.94 million during its IDO. The token is currently in use in 39 countries with about 3870 investors. Already 74 million tokens have been emitted. The TBC token can be traded on PancakeSwap and Uniswap.

Binance Cloud, on the other hand, leverages the best technology, security, and liquidity from Binance. In this way, Binance Cloud can provide the requisite infrastructure to crypto exchanges. Moreover, collaborations with it allow partners to put more energy into business development and operations.

Binance Cloud simply reflects the main functionalities of the Binance exchange and brings them to other digital asset exchanges. Such features include trading risk controls, a big data security system, a robust machine engine, market depth, and also liquidity.

PARSIQ’s IQ Protocol Mainnet Launch Draws Near

PARSIQ’s IQ Protocol Mainnet Launch Draws Near

PARSIQ, a data and automation platform that connects blockchain activity to real-world applications is happy to announce that it will soon be launching its protocol to the public on June 30, 2021.

According to the platform, PARSIQ will be launching its DeFi-oriented IQ protocol to the mainnet. Notably, the launch will also usher in the PARSIQ 2.0 tokenomics.

Following the launch, users can test the changes and provide liquidity. In addition, about a week after the launch, PARSIQ clients will also have an opportunity to begin borrowing. 

The IQ Protocol is a completely new piece of technology for the DeFi world. While it might be built by PARSIQ and its partners from the ground up, tested, and audited by Hacken the protocol has relied heavily on feedback from customers. The IQ Protocol is about to complete its test run process that has been taking place on has Ethereum.  Notably, the protocol creates an economic model that brings together the IQ Protocol, PARSIQ, and PARSIQ’s native PRQ token. 

Andre Kalinovski PARSIQ co-founder explained:

“We believe that, for blockchain to achieve mainstream adoption, transparency is crucial. Being able to monitor and analyze the blockchain, and verify transactions in real-time, will help to build trust for users and improve the understanding of how blockchain works. PARSIQ will not only enable this type of monitoring but continue to innovate and provide improved capabilities in future so that the blockchain is accessible for all.”

The IQ Protocol is a unique innovation that promises to provide risk-free lending and borrowing within the DeFi market. The protocol is an open-source and decentralized creation that will allow for ample customization in regards to tokenization models. 

Another notable benefit the protocol has to offer is that lenders who supply their tokens through the protocol can earn passive income. The protocol will allow users to borrow or ‘rent’ expirable versions of these tokens to access ecosystems products or services. In other words, the protocol eliminates the need for a user to buy tokens on the secondary markets to sell them later. 

One thing to note is that once launched, other eight projects will leverage the IQ Protocol for their tokenomics changes and models. So far, Mysterium Network has already announced it will be using the protocol for a tokenomics upgrade of its platform.

US senator encourages Bitcoin investment, warns against dollar depreciation

TL;DR Breakdown

  • Senator Lummis calls for BTC investment among Americans
  • Lummis predicts imminent fall in the value of USD

Cynthia Lummis, a US politician, and senator has urged Americans to try and invest in Bitcoin as a hedge against dollar depreciation.

She held that a falling value for the dollar is imminent, calling for Bitcoin investment. While outlining her support for the currency, she held that she owns five Bitcoins purchased eight years ago for $300 a piece.

Why Lummis wants Americans to make Bitcoin investment

While the senator was speaking on CNBC‘s Financial Advisor Summit, she publicly reiterated her belief in bitcoin as an investment tool and store of value.

She said that the digital asset should have a place in broader portfolios, especially oriented for the long run.

“I would like to see cryptocurrency, like Bitcoin, become part of a diversified asset allocation that is used in retirement funds and other opportunities for people to save for the future. So whether you’re an employee with a retirement fund, I’d like to see those retirement funds invested in bitcoin and other cryptocurrencies that are good stores of value.

The former US attorney also spoke about El Salvador’s recent actions to adopt BTC as legal tender as important news coming from a country that could benefit from it.

She said citizens of superpowers like the US could also gain from utilizing BTC especially after the unprecedented monetary policy undertaken by the Fed last year.

Lummis pointed at the fact that Congress spends trillions and trillions of dollars and floods the economy and the world economy with dollars. To her, there’s no way that the value of the USD would not debase.

Lummis crypto holding

She revealed she had five BTC, which she purchased in 2013. She never revealed if she bought more, however.

During the CNBC broadcast, though, the US Senator noted that she still holds five BTC bought eight years ago at $300 per one.

Renewed Hype? Twitter Unveils NFT Collection on Ethereum-Based Rarible

Twitter has become the latest entity to drop its own NFT collections despite a decrease in the hype surrounding non-fungible tokens.

Announcing the development today, the social media platform revealed that it has created 140 NFTs, which will be distributed freely to 140 users. While the NFTs are free, about seven of them have already been listed on the Ethereum-based platform, Rarible, with a “not for sale” disclaimer. At the time of writing, the bidding price for each of the listed NFTs was 1 mETH.

The new NFTs are different from the NFT Tweet, which was auctioned by Jack Dorsey in March. At the time, Dorsey digitized his very first tweet and auctioned it on Valuables, a platform that allows users to tokenize and sell tweets, with the Twitter boss being the first prominent figure to do so on the platform.

The newly launched Twitter digital arts include Reply Guy (the faceless man behind the mansplaining), Vitamin T (Vitamin Twitter), Furry Twitter, twttr jggl, Rare Form, Building Characters, and First Born, but to mention a few.

Sharing insight on the development, Cinneamhain Ventures partner Adam Cochran noted that the move “looks like Twitter finally noticed some unique ETH value,” while adding that maybe Jack Dorsey “is slowly going to migrate to being a crypto maxi in general.”

In recent times, Dorsey has shown more interest in the crypto industry and even said he would leave Square and Twitter for Bitcoin if it needed him more.

A Renewed NFT Hype?

Twitter’s move to launch a free NFT collection comes at a time when the craze surrounding non-fungible tokens has begun to wane. However, the hype seems to have been renewed, and the crypto community could see some of the Twitter NFTs sell for ridiculous prices, as seen in the past.

Between late last year and April 2021, the NFT sector recorded massive investments, with the most expensive NFT of Beeple selling for $69 million. As the NFT mania continued to spread, celebrities around the world, like FC Barcelona’s player Gerard Piqué and Hip Hop’s Titan Eminem, joined the bandwagon, either launching their own NFT collections or advising NFT-related projects.

The growth has forced onlookers to ask if NFTs are in a bubble while comparing it to the old days of  ICO. An earlier report confirmed that the NFT hype had peaked, and it surpassed the ICO’ madness of 2017 and 2018.

Dexlab Raises $1.44M to Ease Token Issuance On Solana

Dexlab Raises $1.44M to Ease Token Issuance On Solana

The token minting platform Dexlab has raised $1.44 million in private investment to develop a gateway to the Solana ecosystem. The platform is Minting Lab’s developer, a turnkey solution for issuing tokens, managing them, and deploying smart contracts.

The funding round became possible through grants from Solana and Eco Serum, in addition to backing from leading blockchain VCs. These included Parataxis Capital, Genesis Block Ventures, CMS, and NGC Ventures. Other supporters of Dexlab’s vision of decentralized exchange and token minting framework on Solana were Ledger Prime, Arca, DFG, Bixin, Sonic Capital, Race Capital members, Evernew Capital, VTG, Genblock, and Dragon Roark. More participants were Rok Capital, 499Block, Axia8 Ventures, Cryptomeria Capital, M6, and PetRock Capital.

Dennis Lee, founder, and CEO of Dexlab spoke saying:

“I am grateful to all our investors for seeing the same potential in Solana as us, and for believing that Dexlab is the best team to turn this into a reality…We are excited for the future of decentralized finance on Solana and for helping projects see the Minting Lab as their jumping-off point for exploring the many possibilities for token issuance and smart contract creation.”

GBV’s co-founder Leslie added:

“Dexlab’s Decentralized Finance as a Service platform is tailored for the Asian market, which is also where GBV has its roots. With Serum integration, Dexlab becomes a strong “lego” towards making financial services more equitable globally.”

Investors of Dexlab will not only provide the capital necessary for developing its token issuance solution but also provide mentorship. The latter will focus on enterprise development, hiring, treasury, and also financial management.

Korean-based Dexlab team members will work on incorporating new projects on the Solana blockchain within the Asian region. More so, Dexlab aims at cutting down on the barriers to entry into the Solana ecosystem. The platform supports developers in creating new DeFi primitives powered by native tokens that are underpinned by strong fundamentals. Network effects will, therefore, be strengthened and incentives aligned between users.

Dexlab is a decentralized exchange designed for users to mint and list Solana Program Library (SPL) Tokens. In addition to a cluster of advanced DeFi tools, Dexlab utilizes an advanced Graphical User Interface (GUI) with a friendly user interface (UI). All these facilitate SPL tokens coinage, management, and listing of both SPL tokens and NFTs, fully side-stepping the need for coding.

Finally, Dexlab’s Minting Lab enables users to manage everything to do with token issuance in addition to the deployment of plug-and-play smart contracts.

Why This U.S. Congressman Compared Bitcoin Investment With Playing The Lottery

The U.S. Congress Oversight and Investigations Subcommittee held a hybrid hearing on Bitcoin and cryptocurrencies. The institution summoned Alexis Goldstein, Director of Financial Policy for the Open Market Institute, Sarah Hammer, Managing Director at the Stevens Center for Innovation in Finance, Peter Van Valkenburgh, Director of Research at Coin Center, and others.

Adam Cochran, a partner at Cinneamhain Ventures, made a detailed summary of the event. The members of the Committee made their opening statements with Congressman Tom Emmer defending Bitcoin and the potential of blockchain technology to create more trust and transparency in traditional systems.

Similarly, Emmer criticized the lacked clarity on regulation and the danger of U.S. companies leaving to other territories consequently. The representative called for answers on a key topic: the classification of digital assets and whether they will be treated as securities, commodities, or currencies.

However, not every member of the Committee was an advocate of Bitcoin. Representative Brad Sherman claimed that “he would rather people make ‘bets’ in equity markets or the California lottery” than invest in BTC or cryptocurrencies. He added:

(…) the only advantage of crypto is avoiding KYC and its supported by anarchists for tax evasion.

Representative Anthony Gonzalez seemed to support cryptocurrencies and encouraged everyone to listen to the opinions of all the members in the Committee and not just the hostiles ones. He classified the idea of investing in the California lottery over Bitcoin as “ridiculous”.

Does Bitcoin Need New Regulations?

Amongst the speakers, Valkenburgh’s presentation highlighted the importance of Bitcoin as a tool that aids different human rights causes around the world. He cited the Nigerian Feminist Coalition in Nigeria to demonstrate the power of receiving money with a censorship resistance network anywhere in the world.

Valkenburgh believes there is sufficient regulation in the crypto industry. His argument had two main points: over the past 10 years, several federal and local governments issued their own legislation towards this new asset class. He added that technologies within the blockchain are a type of regulation.

(…) onramps, offramps and exchanges, are money transmitters, banks and trusts, and are all under the BSA, report to FINRA and require KYC/AML.

In BTC’s decade of existence, there have been no reports of a U.S.-based exchange that has suffered major losses. Regulators in this country have swiftly punished fraud, money launders, and other crimes related to the industry.

Valkenburgh thinks that central bank digital currencies (CBDCs) from China and other “totalitarian governments” will launch in the coming years. Thus, he called on the U.S. Congress to accept financial inclusion or “cede” the influence of these governments. Representative Warren Davidson agreed.

At the time of writing, BTC trades at $34,856 with losses in the lower timeframes. The first cryptocurrency by market cap has experienced a downtrend in the past days and could face further unless it makes a significant push towards former highs.

Bitcoin BTC BTCUSD
BTC moving sideways in lower timeframes. Source: BTCUSD Tradingview

A Digital Gaming Affiliate Program Now Available On Crypto Million Lotto

A Digital Gaming Affiliate Program Now Available On Crypto Million Lotto

Crypto Millions Lotto, a gaming platform based in the United Kingdom is proud to announce the launch of its highly attractive digital gaming affiliate program.

As per the announcement, the digital gaming affiliate platform has a lot in store for the Crypto Millions Lotto community. The program, which is backed by a world-class affiliate management team offers attractive commissions.

Notably, the program offers an industry first of its kind commission bonus that entails giving a 5% bonus of the jackpot won to the affiliate who introduced the player to the program. The platform also offers 15% of gross revenue to top-line sales. For casino games, the platform offers a 25% share on monthly net revenue up to $2,000, a 30% share on monthly net revenue between $2,000 and $5,000, and a 35% share on monthly net revenue above $5,000.

While commenting on the launch, Sulim Malook CEO of Crypto Millions Lotto explained:

“We’ve already shown that we intend to do lottery differently, and now we’re going to do affiliate marketing differently too. We see this as one of the primary routes to market and we’re going to give it the resource and support it needs to be a huge success”.

Crypto Million Lotto pays out winners daily in bitcoin for the lottery while casino games winners get their winning 48 hours after the end of the month. 

Another notable advantage of the platform is that it offers first-time players six free plays- one for each of the six international lotteries.  New players also gets a 200% introduction offer given for the first deposit made. The offer comes as a gift card (a Lucky Gift Card). 

Currently, Crypto Million offers its services to over 180 countries across the globe. Users have access to professionally designed marketing materials that goes a long way in helping them navigate the platform, participate in the lotteries and also market the platform in any social media channels. 

Crypto Millions Lotto reportedly makes the biggest lotteries on the planet plus some of the most exciting casino games accessible to everyone. The website reads in part:

“We’re the first and only online website that lets people play (and win) these lotteries and casino games using bitcoin. We’re blazing a trail and we need your help to spread the word!”

Analyzing The Critical Bitcoin June 2021 Monthly Close

Today, June 30 marks the last day of the month, and after around 8PM ET the Bitcoin monthly candle will come to a close. This monthly candle isn’t anywhere as damaging as this past May, which historically was one of the worst on record.

However, there’s no denying that this month was also still fairly nasty and has left the market in a state of indecision. Here’s what past moments of indecision say about the current market cycle, and what could come next depending on which side of the trade gains control over the next month in Bitcoin.

Stalemate Between Bulls And Bears Results In Sideways Action

From the local top to the recent bottom, Bitcoin has collapse by nearly 60% and its only taken three months in full. Q2 2021 is now destined to be the bloodiest on record, with May nearly breaking records for the worst monthly drop ever.

Despite the violent drawdown, the cryptocurrency bull market still could very well still be on. The market knows this, so investors and traders are still cautiously buying the dip.

bitcoin monthly close ichimoku

Price action is trapped between the Tenken-sen and Kijun-sen | Source: BTCUSD on TradingView.com

At the same time, panic sellers are being shaken out with each failed attempt to push lower. The sideways price action can be explained best due to price action – currency forming a red doji candle on the monthly – being sandwiched between the Tenken-sen and Kijun-sen.

Related Reading | Could The Golden Ratio Provide Clues To The Bitcoin Bottom?

The two span lines make up a small portion of the tools the Ichimoku indicator offers. The Relative Strength Index, pictured below, shows a bearish divergence across the most recent peak and the last bull market top.

bitcoin monthly close indicators

Technical signals are a mixed bag but mostly lean bearish | Source: BTCUSD on TradingView.com

The miss of the higher, dotted trendline on the RSI could suggest another push higher is still possible, however, falling so deep out of the bull zone isn’t good for Bitcoin. At the same time, the Parabolic SAR has been tagged suggesting a major trend change, and the LMACD has begun to turn downward.

The LMACD hasn’t yet crossed bearish yet, and ahead of any cross happening bulls could push another wave higher. The histogram on the monthly MACD also hasn’t switched red just yet, which could prevent further downside if the green bars grow again.

Bitcoin And The Red Doji: What Could Come Following This Monthly Close

Interestingly, red doji candles, which indicate indecision between bulls and bears, have typically resulted in some of the largest bullish impulses in the months following.

bitcoin monthly close doji

Red doji often lead to reversals in cryptocurrency markets | Source: BTCUSD on TradingView.com

The red doji could suggest that bears are failing to continue to bring prices to lower support levels, and bulls might be able to regain the upper hand.

Related Reading | Institutional Bitcoin Selloff Leaves Retail With Bloody Aftermath

After such an enormous selloff market structure is typically damaged to the point of no return. Bulls best hope to hold out for is a repeat of the 2013 final wave up, which instead had a green doji to pin-point the exact bottom before a reversal to new highs.

bitcoin monthly close doji fractal

Bulls best hope is for a repeat of something like 2013, but is hope enough? | Source: BTCUSD on TradingView.com

If Bitcoin can regain lost highs, another final leg up could bring the leading cryptocurrency by market cap to the final cycle high, and set another bull market peak.

The importance of this monthly close to the bull cycle continuing cannot be understated and is one that anyone in crypto should be paying. close attention to.

Featured image from iStockPhoto, Charts from TradingView.com

Crypto Adoption Gets Big Boost From Bitcoin-Friendly Payments Giant NCR With Onramp for 24 Million Customers

Atlanta-based payments giant NCR will soon enable over 24 million customers at 650 banks to buy Bitcoin.

As part of its deal between NCR and digital asset management firm NYDIG, community banks will be able to offer Bitcoin purchases through mobile applications built by the payments provider. 

 

NYDIG says the new partnership that will power wider adoption of the world’s leading cryptocurrency.

NCR reaches 24 million consumers through its digital banking platforms and our partnership will offer turnkey access to Bitcoin for Main Street banks. Forbes covers how we’re working to expand customer access to the Bitcoin network.” 

While the consumer will feel like they’re transacting directly with their bank to buy Bitcoin, instead of going through banks that must meet cumbersome regulatory requirements in order to hold cryptocurrencies, purchased assets will pass through NCR and will rely on NYDIG’s custody services. 

According to a report by Forbes, NYDIG president Yan Zhao suggests the partnership with NCR is a boost for banks that can now provide their own crypto services. 

“A lot of these banks have seen that one of the biggest outflows from their depositors is moving money from the bank to exchanges like Coinbase, and so that’s part of why banks are so excited to have this capability for themselves and for their consumers.”

NCR offers financial services in 160 countries. It offers digital banking options, ATMs and restaurant point-of-sale kiosks.

In addition, NCR, founded in 1884, is the largest global provider of point-of-sale software to grocery and other retail stores, with a 45% market share, according to research firm RBR.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Crypto Adoption Gets Big Boost From Bitcoin-Friendly Payments Giant NCR With Onramp for 24 Million Customers appeared first on The Daily Hodl.

Polish Miner Uses Solar Panels to Mine Bitcoin, Heat His House

Seeking to reduce the carbon footprint of his Bitcoin (BTC) mining operations, as well as cut his electricity bill, Paweł Wojciechowski has reached for photovoltaic (PV) modules to mine the cryptocurrency, using the excess heat to warm the water in his household. Wojciechowski, who runs an IT company in Gniezno, in Poland’s western part, told Polish news site Onet.pl that

3 key areas traders are watching as Bitcoin’s monthly close occurs

As the month of June comes to an end, traders are asking the Magic 8-Ball for answers to the question of where Bitcoin's price will go next.

Bitcoin's (BTCwhipsaw volatility has been on full display throughout June, leaving traders confused and in search of the latest technical indicator or major news announcement that might provide some hint at which way the price will move. 

As the month of June comes toward an end, traders are now focused BTC's on the monthly close to determine if the forward outlook is tilted toward bulls or bears.

BTC/USDT 1-month chart. Source: TradingView

At the time of writing, Bitcoin price is still 47% away from its all-time high at $64,873 and analysts have a mixed view on whether or not the bullish momentum will return in the short term. Here are three perspectives analysts have in mind as the market prepares to head into the month of July.

Bitcoin needs to hold the $34,500 support

A survey of crypto Twitter shows that many chart watchers have identified $34,500 as a crucial price level that needs to be defended to establish the bull case for Bitcoin moving forward.

According to Rekt Capital, a pseudonymous trader on Twitter, a close near this level would put the market on a similar trajectory to the BItcoin price pattern seen during the 2013 bull market which included a mid-cycle correction before price broke out to a new all-time high later in the year.

From this bullish perspective, the price of Bitcoin should soon continue the uptrend that began in late 2020 and will theoretically lead to a new all-time high later in 2021 or early 2022 which is projected to surpass $100,000 according to the Bitcoin stock-to-flow model.

Bitcoin stock-to-flow model. Source: Lookintobitcoin

Despite the widespread acceptance and faith in the S2F model, Bitcoin's recent price action led even Plan B, the creator of the popular model, to feel “uneasy” about BTC's most recent dip to the lower bound of the model.

Signs of a bearish breakdown

While bull market advocates look for any sign to validate a move higher, the price action on June 30 caught the eye of another pseudonymous Twitter analyst called John Wick. According to the analyst, there is a bearish topping pattern that can be se in the most recent BTC chart.

According to Wick, Bitcoin now needs to hold support at $34,000 or the market could be in for another extended period of sideways, range-bound trading rather than a fledgling move higher.

Bearish sentiments were also highlighted in the following tweet from the Twitter personality Nunya Bizniz, who points out that BTC would need to close above $37,400 to avoid three consecutive down months, which has historically indicated more downside in the future.

Signs of rising sentiment

While the debate about a bullish or bearish future rages on, there are several indicators pointing to the possibility of rising sentiment amid the noise.

Twitter personality 'Bitcoin Archive' pointed to the Grayscale Bitcoin premium approaching zero and renewed buying activity by the Purpose Bitcoin ETF as evidence that sentiment is on the rise.

Related: NYDIG set to bring Bitcoin adoption to 650 US banks and credit unions

On-chain analyst William Clemente III also posted the following chart to highlight the fact that long-term BTC holders have been accumulating since late May after the price of Bitcoin bottomed out below $29,000.

Bitcoin supply held by long-term holders. Source: Glassnode

Clemente said:

“Bitcoin is cheap and Long-Term BTC Holders know it. They've added 741,363 BTC to their holdings since the initial price drawdown in late May.

For a simplified explanation of important levels to keep an eye on, John Bollinger, a technical analyst and creator of Bollinger Bands,  simply said that $41,000 and $31,000 are the key "logical levels" to watch and he also cited the $35,000 to $36,000 zone as crucial support levels to monitor. 

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

George Soros’ investment fund is reportedly trading Bitcoin

In addition to trading crypto, Soros Fund Management is said to be in discussion to acquire blockchain-focused firms.

Soros Fund Management, the private investment firm of billionaire George Soros, is reportedly trading Bitcoin (BTC) as part of a broader exploration of digital assets, according to financial news website TheStreet. 

People familiar with the matter told author Michael Bodley that Dawn Fitzpatrick, the chief investment officer for Soros Fund Management, gave the green light to trade Bitcoin and possibly other cryptocurrencies in the last few weeks. Speaking on condition of anonymity, the sources said Fitzpatrick and her team have been exploring cryptocurrencies for some time and that the latest venture is “more than just kicking the tires” on digital assets.

A spokesperson for Soros Fund Management was contacted by TheStreet but declined to comment.

Fitzpatrick is also reportedly in conversations about acquiring a private stake in leading blockchain-based enterprises, though the names of these companies weren’t provided. As Cointelegraph reported, Soros Fund Management was one of several firms behind the $200 million funding of New York Digital Investment Group, better known as NYDIG. MassMutual, Morgan Stanley and Stone Ridge Holdings Group also participated.

At the time, NYDIG co-founder and CEO Robert Gutmann said the investment round was evidence that institutional adoption of Bitcoin was on the rise.

TheStreet's report has already circulated on Twitter, with several prominent industry voices joining the discussion. 

Related: Financial advisers lead the institutional push toward crypto adoption

It’s not entirely clear how Soros Fund Management intends to trade Bitcoin, if at all. An investment stake in the digital asset shouldn’t necessarily be viewed as bullish given that Soros earned his reputation for shorting the British pound in 1992 and effectively ‘breaking the Bank of England.’

Nevertheless, Fitzpatrick has spoken favorably about Bitcoin in recent months. In March, she said cryptocurrencies like BTC are at an “inflection point” that could catalyze greater adoption in the future.

"We've been making some investment into that infrastructure and we think that is at an inflection point," she told Bloomberg in March.

Strategist Stands Firm Over Bitcoin Price Prediction Despite Clear Struggles

Why The Winklevoss Twins Are Doubling Down On Their $500,000 Bitcoin Price Prediction

BTIG strategist Julian Emanuel reckons the price of bitcoin could return to levels north of $50,000 by the end of the year, despite the currency’s present struggles. The crypto market has been put through a major ordeal in recent weeks, one which saw BTC drop from over $63,000 to just above $30,000 in just a few days.

This image has an empty alt attribute; its file name is uWcA1G1t.png
BTCUSD Chart By TradingView

The downward move has prompted several investors to dump their holdings yet many remain intransigent and continue to retain ownership.

Sticking To The Prediction

Bitcoin’s plunge is the result of several factors. However, Elon Musk’s very public opinions are considered to be the main cause of the ongoing volatility. China’s renewed negative stance on bitcoin and the mining thereof is also responsible.

There are many experts who reckon the asset will be worth $500,000 in the near future. The Winklevoss twins, who made millions as early crypto adopters, have indicated that they will not sell until the currency reaches the half-a-million mark

It was predicted that bitcoin’s price would surpass $100,000 by the end of 2021 but that now appears to be more wishful thinking than anything else; the bar has been placed lower as a result. According to Emanuel, there’s every chance BTC returns above the $50,000 mark by the end of the year, while Ethereum is expected to see its value rise above $5,000.

“Though regulatory uncertainty in the U.S. and elsewhere remains, BTIG Strategy and FinTech [teams] see the long-term case for digital assets – the transformational power of blockchain, a store of value in an increasingly uncertain and inflation prone world – stronger than ever, and we reiterate our year-end 2021 price targets for bitcoin, $50,000, and Ether, $5,000 and would take advantage of the present weakness to add to core holdings,” he wrote as part of a research note to BTIG clients, per Yahoo Finance.

A Positive Bounce

Bitcoin is still making waves in terms of its popularity, in spite of the volatility, and is growing at a faster pace than the internet in its infancy. The price went up over 15% over the weekend and, at the time of writing, had gone up 5.56% over a 24-hour span, with the value at $34,552.54.

“The bounce is “positive”…but since it has only taken bitcoin back into the middle of its range…it’s not necessarily “bullish,” Miller Tabak Chief Markets Strategist Matt Maley pointed out. “In other words, the crypto bulls have got to be relieved that bitcoin did not drop below the bottom end of its range, but the rally has not been enough to give them any signals that it will break out to the upside any time soon.”

There’s quite a lot that could happen between now and the end of the year. After all, BTC experienced a drop of over 40% in a matter of days. There’s really no telling what could happen within the run-up to 2022.

Formula 1 Secures Multimillion Crypto Sponsorship Deal

Formula 1 Secures Multimillion Crypto Sponsorship Deal

Formula 1, the international auto racing organization, has found a new sponsor from the crypto industry. The long-term deal will provide a digital asset trading platform with brand presence at F1 events while the car championship hopes that the partnership will allow it to “explore the world of cryptocurrency.”

Crypto.com to Support Formula 1 as Part of Reported $100 Million Sponsorship Agreement

The deal between Formula 1 and Crypto.com, which was announced on Tuesday, has been negotiated with the help of sports firm Creative Artists Agency. The terms were not immediately disclosed but according to CNBC, quoting sources familiar with the details, the five-year agreement has a price tag of over $100 million.

Crypto.com, a platform with a claimed 10 million users, will become a global partner for Formula 1 races, including the new Sprint series. The qualifying format will be employed to determine the starting positions in some races, with the first such event to be held at Silverstone Circuit in July, ahead of the F1 Pirelli British Grand Prix 2021. Sprint Qualifying will debut at three Grands Prix this year.

The crypto company will also unveil a new award at the Belgian Grand Prix in August and become its non-fungible token (NFT) partner. Crypto.com will have trackside slots at all F1 races for the rest of the season as part of the agreement with Formula 1, which takes effect on July 17.

Commenting on the deal, F1 Director of Commercial Partnerships Ben Pincus stated that the racing entity is planning to use Crypto.com’s expertise “as we explore the world of cryptocurrency, an area we are very interested in.”

Formula 1 is the world’s leading auto racing competition, sanctioned by the Fédération Internationale de l’Automobile (FIA), or the International Automobile Federation. The ‘formula’ in its name refers to a set of rules to which all participating teams must conform. In 2016, F1 was bought by Liberty Media Corporation for $4.4 billion.

In a press release published on its website, Crypto.com reminded this is not its first sponsorship in sports. The platform, which allows users to buy and sell cryptocurrencies, also had a partnership deal with F1 team Aston Martin Cognizant Formula One which commemorated their return to Formula 1 with NFTs. It’s also a partner with NHL team Montreal Canadiens as well as the major Italian soccer league, Lega Serie A.

What do you think about the sponsorship agreement between Formula 1 and Crypto.com? Tell us in the comments section below.

Michael Saylor Condemns China’s BTC Ban

Michael Saylor of MicroStrategy fame is convinced that China is making a huge mistake by not allowing bitcoin operations to continue within its borders.

Michael Saylor Is Critical of China’s Decisions

Over the past few days, bitcoin has experienced something of a surge. It was trading for about $29,500 just over a week ago, and yet today, the currency has risen to roughly $36,000. While this is by no means a heavy boom, the currency is doing considerably better, and the asset appears to be slowly getting back on track.

Despite this, China is moving forward with its bitcoin ban. The country is stopping all miners from operating on its turf, and it is also disallowing all banks and standard financial institutions from offering their services to bitcoin and blockchain firms. Saylor is convinced that this move is going to be very costly and that it will relieve China of trillions of dollars. In a recent interview, he states:

I think, given the bitcoin growth rate, this will prove to be a trillion-dollar mistake for China… It is a tragedy for Chinese miners [and] it is a geopolitical mistake for China the country, but I suppose they could afford to make a trillion-dollar mistake.

At one point, it was widely believed that China played host to anywhere between 65 and 75 percent of the world’s bitcoin and cryptocurrency mining operations, though it looks like that is going to end in the coming weeks. China is moving fast, having recently shuttered as much as 90 percent of the bitcoin mining operations stationed within the Sichuan province, which is what allegedly caused the BTC price to sink to new lows last week.

Saylor explains:

It is a nuisance and a dislocation for bitcoin in the near term. You can see the trading volatility. A lot of Chinese had to sell bitcoin under forced liquidations and with a timeframe because they had to get out of the country and all their loans got pulled, so that has been a big opportunity for western investors.

If anything, Saylor is convinced that this move will be great for North America, as many of the operations that were formerly stationed in China are now looking at regions of the western continent to set up their companies. He says:

It is a great windfall for North American bitcoin miners whose costs are the same and they are going to generate 50 or 75 percent more revenue for a while because the China business has been taken offline.

A Major Buyer

MicroStrategy is arguably bitcoin’s biggest institutional supporter, having purchased more than $2 million worth of the asset at press time. Saylor mentioned:

Companies like mine bought bitcoin in the $30,000 range. We would have paid double or even triple that if it had not been for the China exodus.

The post Michael Saylor Condemns China’s BTC Ban appeared first on Live Bitcoin News.

Crypto mindsets, ETH 2.0, and solving real-world issues with Sandra Ro

Sandra Ro is CEO of the Global Blockchain Business Council, serving the council and crypto community to foster education and build bridges across enterprises, governments, and start-ups to help fulfill the potential of blockchain technology to solve real-world problems and help society.

Ro was named to the Innovate Finance, Women in Fintech 2016 Power List and holds directorships/founding memberships on several industry boards as well as advises several emerging tech start-ups. 

She previously served as a former Treasurer and founding board director of the Enterprise Ethereum Alliance (EEA) and founding member of the Post Trade Distributed Ledger Group (PTDL), founding member of Linux Foundation’s Hyperledger.

Today, Ro sat down with Alex Fazel, host of crypto edutainment show CryptoNites, to discuss all things crypto, blockchain, and trending topics like Ethereum 2.0, e-money, the need for decentralized identifies, and several other crucial ideals.

Here’s a snippet of what they discussed!

Crypto wealth and mindsets

Fazel kicked off the show with a question on how Ro would like to see the general mindset evolve in crypto circles.

“We have this view that we want to bring the brightest minds and the best, you know, the kindest hearts together because together, you can make money, be successful, create opportunities, but also solve real-world problems that frankly, and be a voice to folks in society who don’t have a voice,” Ro said.

She added, “So what can you do to help solve that, whether you care about climate change, or empowering women and girls, or whatever the topic is, find something that means something to you, and help the people who don’t have that voice and the influence and the money to be able to make that change.”

“And I think, you know, I wouldn’t be very careful not to be judgmental, because people could do whatever they want with their wealth. But I would hope as a community, we’re not going to do the same things that the former generations did.”

The conversation shifted to ETH 2.0, Ethereum’s long-awaited, upcoming move to proof-of-stake from its current proof-of-work consensus design. While the genesis for ETH 2.0 was launched back in 2020 and the protocol is already live on the Ropsten testnet, it remains plagued with continuous delays (considered both the scale and the complexity of the move).

Here’s Ro’s thoughts on the matter: “I know we’ve all been waiting for a long time. And it’s difficult. You know, I’m not one sitting there developing, I’m certainly not going to make a comment on how hard everyone’s working to get this done.”

“And there are just so many challenges. But we just had a conversation actually yesterday with Joe Lubin of consensus. I think there’s growing optimism, cautious optimism that we’ll get there this year. I think we really need it as a community. And, you know, let’s face it, a lot of people are building on Ethereum,” she added.

“And it’s really critical infrastructure at this point, it’s not an option. It’s really like, we need it.”

(Want to know what Ro says about government interferences in the crypto space, altcoins, and ‘e-money’? Catch the rest of the interview right below, available for streaming in its entirety!)

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