Bitcoin News and Finance: What You Need to Know

Top-selling non-fungible token (NFT) artist Bosslogic has partnered with art collective Ether nity to deliver a 2500 piece collection of unique art. The Ethernity Chain community members can take part in an NFT auction via an online competition. Bosslogic Collaboration Decision Dovetails Surging Crypto Collectible Sales Following his recent successes in the non-fungible token (NFT) space, acclaimed artist Bosslogic has joined forces with socially-oriented NFT-issuance platform Ethernity Chain. Ethernity auctions authenticated digital art and collectibles, with proceeds benefiting various social causes while building more mainstream attention around digital art possibilities. Bosslogic has long been a fixture in art and design thanks to his acclaimed work with organizations like Marvel Studios and Disney+, among many others. His loyal following extends well beyond the crypto sphere, given his widespread popularity in the Marvel Cinematic Universe (MCU) community. A recent poster for

According to reports, Grayscale added 174,000 tokens to its litecoin holdings in the past month. This haul pushed its total holdings of the altcoin to 1.44 million. Following this acquisition, which represents 80% of all litecoin that were mined in the past month, the total value of Grayscale’s holdings of the altcoin is now just over $248 million. However, following the large acquisition by Grayscale Investments, LTC ’s price movement appears to be unrelated to changing supply dynamics. For instance, Messari data shows that the altcoin only went above the $200 mark between February 12 and 22. However, since then the price has returned to levels below $200 with February 25 being the only exception. At the time of writing, the token was trading at just above $190. In the meantime, on Twitter, some users are questioning the altcoin’s failure to pump following Grayscale’s massive buying. For instance, one Twitter user, Carolyn Bamberger asks why the price has not pumped. In response,

PRESS RELEASE. Pastel Network , the first truly decentralized and scalable blockchain project designed specifically for rare digital art, has officially announced its pending listing on Bitcoin.com Exchange , scheduled for March 5th, 2021. Pastel Network is a blockchain for rare digital art (also known as “NFTs”) that is built on the secure, battle-tested codebases of the Bitcoin, Dash, and ZCash cryptocurrency projects. Pastel introduces several important innovations to the world of blockchain art, such as the decentralized storage of art image files natively in the network, as well as a decentralized validation process for registering new artworks that prevents near-duplicate images from being added to the system. Pastel’s novel near-duplicate detection algorithm is based on robust image fingerprints that are generated using state-of-the-art deep learning image models and introduces a new form of digital scarcity which makes pixel patterns themselves “rare”. Pastel takes a differe

In the summer of 2019, our newsdesk published a step-by-step guide on how to create a non-fungible token (NFT) asset by leveraging the Simple Ledger Protocol built on top of the Bitcoin Cash blockchain. The following guide is an updated walkthrough on the process of creating an NFT collectible using the blockchain network with artwork uploaded to the Inter-Planetary File System (IPFS). How to Create an SLP-Based Non-Fungible Token Using the Electron Cash Wallet Non-fungible token (NFT) assets have become all the rage in 2020 and into the new year. In 2021, NFT sellers have sold millions of dollars worth of NFT artwork and collectibles. NFT solutions have been prominent on the ETH chain, even though the process was first popularized on the BTC chain with the original Rare Pepe collection . Token solutions and NFTs have also spread to other blockchain networks and back in 2019, news.Bitcoin.com published a walkthrough on how to leverage the Simple Ledger Protocol (SLP) in order

Banks in Germany are reportedly turning customer deposits away due to the negative interest rate imposed on them by the European Central Bank (ECB). Some banks are even offering online tools to help customers take their deposits elsewhere. Negative Interest Rates Imposed by ECB Force Banks to Turn Away Customer Deposits Banks in Germany have been telling customers to take their deposits elsewhere as they can no longer sustain the cost of parking money at the ECB, the Wall Street Journal reported Tuesday. The central bank has been imposing negative interest rates since 2014. The rate is currently -0.5%, which is unlikely to change any time soon, according to the central bank. After years of exhausting ways to pass on the costs of negative interest rates to customers, such as charging higher fees, banks in Germany are now turning away clients’ deposits, the publication noted, elaborating: Banks are even providing new online tools to help customers take their deposits elsewhere.

The first bitcoin exchange-traded fund (ETF) in North America now holds over 11,000 bitcoins. Purpose Bitcoin ETF saw strong interest at launch. An ETF researcher explained that the surge in interest was evidence of some combination of pent-up demand, the price of bitcoin, and investors switching from other means of getting cryptocurrency exposure. First North American Bitcoin ETF Holding More Than 11K Bitcoins The first approved bitcoin exchange-traded fund (ETF) in North America, Purpose Bitcoin ETF, is holding 11,141.2363 bitcoins as of March 2. According to Purpose Investments, which manages the fund, the bitcoin ETF currently has CA$669 million ($530 million) in assets under management. Purpose Bitcoin ETF gained widespread attention when it launched on Feb. 18 on the Toronto Stock Exchange (TSX). The fund saw more than $165 million in trading volume on the first day . The ETF trades under the symbols BTCC.B (Canadian dollar-denominated ETF non-currency hedged units) and BTCC.

The creator of the notorious stock-to-flow model (S2F), Plan B has recently detailed that the price of bitcoin has surpassed the S2F model price by 26%. The strong momentum has a number of crypto enthusiasts thinking that bitcoin prices reaching the $100k to $288k range by the year’s end is possible. Price of Bitcoin 26% Higher Than S2F Trajectory Plan B’s stock-to-flow model otherwise known as (S2F or S2FX) is a popular chart that measures the existing number of BTC in circulation (stock) and pairs it against the number of issued coins minted during mining (flow). To many crypto enthusiasts, the S2F model so far has been fairly consistent and following along the mapped trajectory Plan B and others have estimated. In November 2020, the S2F creator doubled down and told the public that there was “no doubt whatsoever” in his mind that his S2F model was “correct.” Plan B shared a chart on Wednesday that shows his S2F model has been “spot on” since he created the S2F model back i

Ripple is piloting a private version of the public, open-source XRP Ledger that provides Central Banks a secure, controlled and flexible solution for the issuance and management of digital currencies. With over 80% of Central Banks actively exploring some form of sovereign-backed cryptocurrency, the arrival of the world’s first Central Bank Digital Currency (CBDC) is … Continued The post Ripple Pilots a Private Ledger for Central Banks Launching CBDCs appeared first on Ripple. http://dlvr.it/RtvSxq

Citigroup says bitcoin is at a tipping point and the cryptocurrency could become “the currency of choice for international trade.” The firm wrote in a report that “we could be at the start of massive transformation of cryptocurrency into the mainstream.” Bitcoin Is at the Tipping Point, Citi Says Citigroup’s Global Perspectives & Solutions (GPS) team released a 108-page report Monday entitled “Bitcoin At the Tipping Point.” The Citi GPS report explains that “the biggest change with bitcoin is the shift from it being primarily a retail-focused endeavor to something that looks attractive for institutional investors.” The firm attributes the change to “Specific enhancements to exchanges, trading, data, and custody services” that are “increasing and being revamped to accommodate the requirements of institutional investors.” Highlighting “the advantage of bitcoin in global payments, including its decentralized design, lack of foreign exchange exposure, fast (and potentially cheape

Gary Gensler, President Joe Biden’s pick to lead the U.S. Securities and Exchange Commission (SEC), has revealed his policies on bitcoin and other cryptocurrencies if confirmed as the SEC chairman. Gensler is a professor at MIT who teaches cryptocurrencies. He previously served as the chairman of the Commodity Futures Trading Commission (CFTC). SEC Chair Nominee Gary Gensler Talks About Bitcoin Regulation Professor Gary Gensler has spoken about what his focus will be regarding bitcoin and other cryptocurrencies if he is confirmed as chairman of the SEC. His statements were made during his confirmation hearing before the Senate Banking Committee on Tuesday. Gensler is a professor at the MIT Sloan School of Management, where he is also co-director of Fintech@CSAIL and senior advisor to the MIT Media Lab Digital Currency Initiative. He teaches blockchain technology, digital currencies, financial technology, and public policy. Gensler is also a former Goldman Sachs partner who served a

According to the findings of a joint Arcane Research and Bistamp study, bitcoin’s unique characteristics, which include it being “the most portable asset”, are the likely contributing factors behind the increasing use of the crypto as a collateral asset. Bitcoin Unmatched This is evidenced by the study’s data which shows that approximately “420,000 bitcoins were used as collateral in various loans in the lending markets in Q4 of 2020.” This figure is nearly double the 213,000 bitcoins that were used as collateral in Q4 of 2019. In another boost to the case as the best collateral asset, the study findings suggest when compared to traditional assets like “government bonds and cash-based securities,” the leading crypto asset is unrivaled. For instance, the findings assert that only bitcoin ( BTC ) “is an asset without both counterparty risk and credit risk.” Additionally, BTC is “available for trading 24/7, 365 days a year, all over the world.” In touting the superiority of some of

PRESS RELEASE. BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of OMI Tokens (OMI) under the trading pair of OMI/USDT on March 2nd at 9:00 a.m. EST. ECOMI is leading the way in the mass market digital collectible space. Its app, VeVe, offers the most comprehensive digital collectible experience, with premium format 3D digital collectibles from the world’s leading brands. The OMI token underpins the economy of ECOMI Collect and is needed for the sale and purchase of digital collectibles and other digital goods within the VeVe App. Digital streaming, gaming, in-app purchasing are all multibillion-dollar markets, and the next one to join this digital trend is the pop culture and collectibles industry. VeVe brings the physical world of collecting into the digital realm and offers collectibles in premium digital format as limited- edition 3D models, which users can place in virtual showroo

A think tank affiliated with the Iranian Presidency has unveiled a study report that encourages the use of cryptocurrencies in circumventing sanctions against the country. In addition, the report also claims the government could potentially “generate US$2 million a day and $700 million a year in direct revenue from cryptocurrencies.” Employment Opportunities Meanwhile, as reported by one local media outlet, the authors of the report say Iran can increase employment opportunities across its economy if it enables the creation of more bitcoin mining farms. In their report , the authors assert that: If large mining farms are established, the need to employ manpower for monitoring and repair, security, electrical engineers and technical staff related to hardware and software equipment will increase, which leads to more job opportunities in other sectors. The authors then go on to suggest that “for every megawatt of electricity consumption about nine people are directly employed.” H

The publicly listed Canadian bitcoin mining operation Bitfarms has announced the firm is purchasing 48,000 Microbt Whatsminer mining rigs in order to expand capacity. Bitfarms highlights the acquisition of new miners will up the company’s hashpower by approximately 5 exahash per second (EH/s). Bitfarms to Acquire 48,000 High-Powered Bitcoin Miners from Microbt The Canadian bitcoin (BTC) mining company Bitfarms (TSXV:BITF, OTC:BFARF) announced on Tuesday the company has entered an agreement where it plans to purchase 48,000 mining rigs manufactured by Microbt. The China-based firm Microbt is the manufacturer of Whatsminer devices, which are some of the most powerful application-specific integrated circuit (ASIC) machines in the world. For instance, the company’s Whatsminer M30S++ is the most-profitable SHA256 ASIC miner on the market today according to current data. Bitfarm’s announcement on Tuesday explains that Microbt has become the firm’s “supplier of choice.” During the las

Wolfram Blockchain Labs (WBL) and Tezos are forging a full integration of Tezos into Wolfram Language and Wolframalpha. The integration gives easy access to developers that want to interact with the Tezos blockchain and their smart contracts. WBL-Designed Oracle Expands Tezos Developers’ Computational and Analytical Capabilities Amid the accelerating race to simplify smart contract deployment, Tezos continues to build on its latest momentum after integrating Wolframalpha and the Wolfram Language via Wolfram’s blockchain. Wolfram, a renowned computational technology provider, supplies computational languages and answer engines via its own distributed ledger technology. The two-way integration orchestrated by Wolfram Blockchain Labs (WBL) and the TQ Tezos is intended to allow both blockchains to pull and push data from each other. This integration is made possible by a Wolfram-designed blockchain oracle that allows Tezos developers to tap into Wolframalpha data and computation