Autor Cointelegraph By Brian Newar

Bitcoin dumps to hit six month lows near $38K

Bitcoin dumps to hit six month lows near $38K

Uverejnil používateľ | jan 21, 2022 |

Bitcoin (BTC) has dumped 7.5% in the past 12 hours, plunging to 6-month lows from $43,328 at 4pm UTC yesterday to $38,258 by 4am UTC today.At the time of writing Bitcoin was trading at $38,761 according to Cointelegraph.Today’s price crash has so far wiped about $50 billion from the overall crypto market. The total crypto market cap has been on a slow decline since early November 2021 when it reached a peak of $3 billion.Without a single bombshell piece of news that many could blame the dump on, investors are wondering what caused the price action. Some pointed to macro indicators, with tech stocks on Nasdaq entering into “correction territory” and several interest rate hikes are expected to come in 2022.But Bitcoin moves in mysterious ways. It could just as easily be the news that Bitcoin bull Raoul Pal has apparently sold all his Bitcoin and only has one left…The Rekt Capital Twitter account noted that the current pattern playing out “shares a few similarities with the price behavior of late September 2021.” At that time, Bitcoin tumbled several times from about $52,000 down to about $41,300 from Sept. to Oct. It proceeded to rise up to $69,000 by early November.The InvesetAnswers account with over 85,000 followers suggested that bears “need Bitcoin under $41,000 to pocket $132 million in gains.”#BTC up 4%, down 9% all in 12 hours. Welcome to #OptionsExpiry – bears are in control. They need #Bitcoin under $41,000 to pocket $132 million in gains. Seatbelts please or this! Welcome to Friday Expiry. pic.twitter.com/6ybAxjM5sA— InvestAnswers (@invest_answers) January 21, 2022BTC is not the only crypto to plunge today Ether (ETH), Binance Coin (BNB), Solana (SOL), Cardano (ADA), and Ripple (XRP) have all experienced a severe corrections between -6.3% to -10% in the past 12 hours. Related: BTC ‘likely’ to repeat Q4 2020 move — 5 things to watch in Bitcoin this weekAmong all the top-ten coins by market capitalization, ADA experienced the biggest overall losses as it dropped 10% to $1.21. Today’s buggy launch of SundaeSwap did not appear to help matters.Forbes contributor Billy Bambrough suggested in an article today that investors have been rattled by recent announcements from the Federal Reserve Bank that it would shrink its balance sheet and raise interest rates.

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SundaeSwap launches on Cardano but users report failing transactions

SundaeSwap launches on Cardano but users report failing transactions

Uverejnil používateľ | jan 21, 2022 |

Cardano’s first decentralized app (DApp) SundaeSwap has launched but is causing a frustration among users due to congestion, platform errors and failed transactions.Is it just a case of expected teething troubles under an influx of excited users or is there more to it?SundaeSwap is a decentralized exchange (DEX) and token staking platform. It’s mainnet launch today marks a milestone in the Cardano (ADA) ecosystem by being the first DApp of to utilize its smart contracts. The ADA price climbed 50% over the past week leading up to the launch of SundaeSwap, meaning a successful launch is a high stakes game for Cardano.Trading on the DEX started at 9:45pm UTC on Jan. 20. It took less than two minutes for users on the project’s Discord server to begin complaining about failed transactions and network congestion.Swapping is now LIVE! Head on over to https://t.co/GSGzSuqIcf and swap tokens, deposit liquidity, and enjoy! $SUNDAE Token Policy ID: 9a9693a9a37912a5097918f97918d15240c92ab729a0b7c4aa144d77#Cardano #SundaeSwap pic.twitter.com/jhLK6F8PuJ— SundaeSwap Labs (@SundaeSwap) January 20, 2022By 10:07pm UTC, SundaeSwap CEO Mateen Motavaf posted a message in bold font and all caps trying to address the volume of complaints in the server: “IF YOUR ORDER IS ON-CHAIN, IT WILL BE PROCESSED ORDERS ARE FAILING DUE TO CONGESTION, PLEASE BE PATIENT”.The SundaeSwap team hosted a Twitter Spaces AMA at about 1am UTC to further address any issues that traders were having with the platform. In light of the tremendous backlog of orders holding up swaps, or ‘scoops’ as they’re called on SundaeSwap, one user asked what the expected effect of an upcoming Cardano node upgrade would have. Chief Technical Officer Matt Ho answered:“Once the change happens on the 25th, we expect greater than a 2X throughput increase from strictly the memory bump by itself as additional protocol parameters become available.”Another user noticed that an order was filled on the DEX before it was launched on the website. A tech-savvy trader can bypass the website user interface and execute trades directly on the underlying smart contracts for any DEX.Ho responded that: “There were so many things to deal with, we didn’t believe maybe, to our naivete, that someone would have constructed a transaction by hand ahead of time.”By 2:40am UTC, users were still complaining of failed transactions and orders pending for over four hours. CIO Pi Lanningham responded on Discord: “Orders will continue to be processed (currently around 2500 orders per hour; currently ~11k orders on chain, ~1600 of them within slippage tolerance).”The SundaeSwap team has not yet responded to Cointelegraph’s request for further comment.The core team of the project expected a large backlog of orders ahead of the launch based on the performance of the testnet about one month ago. In a Jan. 8 blog post, the team wrote:“We want to inform you all that while orders may take days to process, everybody’s orders will be processed fairly and in the order they were received.”Related: Cardano goes ‘full send’ with a 50% ADA rally ahead of SundaeSwap launchBy using the performance of the SundaeSwap platform from a previous test phase, the team acknowledged the possibility of poor performance at first, but said “we’re very confident that the protocol can meet the normal day-to-day load once things settle down.”The Cardano blockchain introduced smart contracts to the platform following the Alonzo hard fork last September. Within one week, over 2,000 smart contracts were deployed on the blockchain with a timelock without becoming operational.

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Robinhood crypto wallet testing is live: 1,000 users can now withdraw

Robinhood crypto wallet testing is live: 1,000 users can now withdraw

Uverejnil používateľ | jan 21, 2022 |

Online retail investing platform Robinhood has released its long awaited crypto wallet for beta testing which will finally enable users to withdraw crypto from the platform.The first 1,000 users that signed up to the waitlist for ‘Wallets’ are eligible to take part in beta testing. Wallets testers will be able to withdraw crypto valued up to $2,999 over a maximum of 10 total transactions daily. Robinhood is a financial services platform backed by Citadel Securities that offers stock and crypto trading. Robinhood’s crypto purchaser users have awaited the release of Wallets since mid 2021 when the waitlist was first created. The last public count of sign-ups to the waitlist revealed by Brown stood at 1.6 million in November, or about 7% of its total user base.While the current limit of testers is capped at 1,000, the company plans to raise the cap to 10,000 by March. A Jan. 20 announcement from Robinhood stated that:“Beta testers will help us test core functionality and provide critical feedback to inform the final version of the product.”Wallets testers will be required to perform know-your-customer (KYC) identification if they are not existing Robinhood users and use a two-factor authentication app. Robinhood’s Crypto COO Christine Brown tweeted today that while the Beta program is ongoing, the company will work “to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support.”Over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain— and more!https://t.co/db5afxwQWx— Christine (Hall) Brown (@christine_hall) January 20, 2022Up until the release of Wallets, any crypto bought on the platform could not be withdrawn nor stored privately, making it essentially a crypto transaction in name only. Now however, Robinhood’s growing crypto division is beginning to resemble a full-fledged crypto exchange that the company says will “fully connect Robinhood crypto holders to the greater blockchain ecosystem for the very first time.”Related: Robinhood hits new low as FTX.US and Bitstamp USA move into stocksMany of its traders favor Dogecoin (DOGE) as their coin of choice. DOGE accounted for 41% of Robinhood’s total revenue in Q2 2021 and 19% in Q3. There are also rumors that the company will list Shiba Inu (SHIB) since Robinhood co-founder Vlad Kardapoltsev recently commented on the rising number of SHIB token holders. Brown ha stated that listing SHIB would depend on regulatory feasibility.Robinhood (HOOD) share price has fallen to an all-time low of $13.50 in after hours trading.

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Nifty News: AMC investors get tokens, Naomi Osaka NFTs, Guy Oseary to represent World of Women

Nifty News: AMC investors get tokens, Naomi Osaka NFTs, Guy Oseary to represent World of Women

Uverejnil používateľ | jan 20, 2022 |

AMC shareholders gifted free NFTThe AMC movie theater chain dropped NFTs to all AMC shareholders on Tuesday.As part of the reward, AMC CEO Adam Aron tweeted that the NFT and a WAX wallet in which to hold it will be free to claim for up to a year. Emails detailing how to claim your AMC Investor Connect “I Own AMC” NFT will be sent next week on Jan 18, to all in the U.S. and globally who enrolled by 12/31/21. The NFT and a WAX wallet for up to a year are free to you. TY to our passionate shareholders. Own this NFT proudly! pic.twitter.com/veo5hSYCkr— Adam Aron (@CEOAdam) January 13, 2022The NFTs, dubbed ‘I Own AMC,’ show a sizable cordoned off medal with the company’s namesake across the middle as a grandiose kind of thank-you.AMC has embraced cryptocurrency more and more since its stock (AMC) became the target of a retail stock buying craze led by r/Wallstreetbets that started with GameStop. In Sept. 2021, Aron tweeted that the company would begin accepting Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH) as payment at its theater locations by the end of 2022.Aron has been teasing Doge and Shiba fans about adding their favorite memecoin as a payment option. On Jan. 7, he tweeted that his company was “well on track for the promised Q1 implementation” of accepting Dogecoin (DOGE) and Shiba Inu (SHIB) as payment.Puppy Bowl 2022 NFT sale raises funds for Ariana Grande’s animal charityThis year’s Puppy Bowl on Animal Planet will include an NFT sale to help raise funds for Ariana Grande’s Orange Twins Rescue animal rescue organization. The Puppy Bowl is an event that airs on Super Bowl Sunday and depicts puppies playing within a small stadium. This year, the Puppy Bowl will air on Feb. 13 on the cable network.The NFTs depict the puppies competing in the Puppy Bowl as trading cards and show their breed, hometown, and personality type.The sale began with a free drop for early visitors to the Chronicle NFT marketplace. The official sale began on Jan. 14 with the ‘Common’ items, and will end on Feb. 13 with the ‘Immortal’ items at a higher price and rarity.Organizers of the Puppy Bowl from Animal Planet signaled environmental awareness by stating that the NFTs were generated by “solutions that are Proof of Stake-driven, and with a commitment to reduce their carbon footprint.”Naomi Osaka to launch third NFT collection with her sisterThis week, the defending Australian Open tennis champ Naomi Osaka is launching a new NFT collection designed by her sister, Mari Osaka. The “Resolve: The Naomi Osaka Manga Collection” collection will be sold on the Autograph NFT marketplace.Osaka’s collection consists of 11,000 NFTs made from 10 different drawings. They will be available for early access starting Jan. 18. The NFTs and any special rewards for early buyers will not be fully revealed until Jan. 25. This will be Osaka’s second collection on Autograph and her third NFT collection overall. NFL star Tom Brady’s Autograph marketplace specializes in offering NFTs based on entertainment and sports stars. It features collections on Tom Brady, Derek Jeter, The Weekend, and many others. Autograph recently closed a funding round worth $170 million.Osaka won the 2021 Australia Open and is defending her title at the 2022 Open this week. Guy Oseary to represent World of WomenTech investor Guy Oseary has added another NFT project to his portfolio by agreeing to represent World of Women, a popular female empowerment NFT collection.Oseary plans to help World of Women capitalize on film, TV, music and gaming opportunities. He also represents the popular Bored Ape Yacht Club NFT collection.World of Women is a collection of 10,000 pictures depicting “diverse and powerful women” on OpenSea. The collection has a trading volume of 43,500 ETH on the world’s largest NFT marketplace with a floor price of 7.85 ETH ($24,552).Other Nifty NewsLindsay Lohan signed on to Superfandom experiential NFT marketplace to offer her own experiences for fans and to serve as an advisor. She will help garner interest in the platform and find more talent to offer experiences as NFTs.Microsoft bought Activision Blizzard for $69 billion earlier this week. This gives it ownership over wildly popular gaming titles such as Call of Duty, Overwatch, and World of Warcraft. The plan is to tie its gaming services into a framework that will “provide building blocks for the Metaverse,” according to Microsoft CEO and chairman Satya Nadella.

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Lindsay Lohan offering ‘experiential NFTs’ on Superfandom

Lindsay Lohan offering ‘experiential NFTs’ on Superfandom

Uverejnil používateľ | jan 20, 2022 |

Lindsay Lohan will issue “experiential nonfungible tokens” on the Superfandom platform. The Hollywood star will also act as an advisor to the platform to help it attract more artists and entertainment figures.”Experiential NFTs” give fans the opportunity to interact with their favorite entertainers in real life by meeting them virtually or in person. In the case of celebrity chefs for example, they could even cook a meal for a fan.Other stars offering NFTs on the platform include Home Improvement star Richard Karn, movie stars Jake Busey (Starship Troopers) and Riya Sen (30 Minutes), and Hunava Mere singer Jubin Nautiyal. Superfandom is a subsidiary of Rare Sense, which is backed by developerHiro, and emerged from the first cohort of the Stacks Accelerator. Stacks is a layer-1 open-source blockchain that settles transactions on Bitcoin.CEO Sophia Perez told Cointelegraph, “These aren’t your typical CryptoPunk or Bored Ape type of art NFT.” “Experiential NFTs are more suitable for creators because digital art [NFTs are great] if you’re an artist, but what if you’re a chef or an actor?”1990s TV star Karn is offering fans NFTs that enable them to be his golfing buddy for a day or to have the actor appear alongside them in a video. Experiences with other stars so far include a gym session, acting coaching, or just hanging out.Perez indicated that the platform would go live within the next two weeks, enabling fans to begin buying experiential NFTs.Since a fan will not be eligible to repeat most experiences, Perez said “getting a secondary market out for us is a big priority.” This will enable experiential NFTs to be re-sold and experienced by a new owner.Related: Year of sponsorships: Celebrities who embraced crypto in 2021This will continue Lohan’s long foray into the NFT space. She has already released a music single as an NFT and sold a Daft Punk-themed NFT on Rarible.There is no confirmation yet as to what experiences Lohan will offer on the platform.

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