Bitcoin enters the “top 10 assets in the world with a market cap of over $1,000 billion”

https://en.cryptonomist.ch/2024/02/20/bitcoin-enters-the-top-10-assets-in-the-world-with-a-market-cap-of-over-1000-billion/

Bitcoin has entered the ranking of the “top 10 assets in the world by market cap”, after surpassing one trillion dollars. 

Bitcoin surpasses one trillion dollars in market cap and enters the “top 10 assets in the world”

Bitcoin’s market cap has once again exceeded one trillion dollars ($1 trillion), securing a place in the ranking of the “top 10 assets in the world by market cap”. 

“There are only 10 assets in the world worth more than 1000 billion dollars. Bitcoin is one of them.”

By analyzing the ranking that involves assets of any kind, such as listed companies, precious metals, crypto, and ETFs, Bitcoin is currently in tenth place with a market cap of 1.021 trillion dollars.

At the top there is Gold with over 13 trillion dollars, followed by Microsoft and Apple with respectively over 3 trillion dollars and 2.8 trillion dollars. 

Below the podium of the top assets in the world, there are Saudi Aramco, Nvidia, Amazon, Alphabet (Google) and Silver. 

In ninth place, just before Bitcoin, there is Meta Platform with 1.206 trillion dollars and, in eleventh place, below Bitcoin, there is Berkshire Hathaway with a market cap that falls below 12 zeros. 

Bitcoin and the return to a market cap above one trillion dollars

It was Valentine’s Day, February 14th, when BTC returned above one trillion dollars in market cap.

This milestone was reached along with the bull run of the BTC price which had returned above the $51,000 levels.

Not only that, beyond the one trillion market capitalization is a figure that has not been seen since November 2021, a month in which BTC had also recorded its all-time high price of $69,000. 

The performance of BTC, being the leader of the crypto market, has also raised the total market cap of the entire crypto market, which has exceeded 2000 billion dollars. Such a figure has not been seen since April 2022.

The current situation

At the time of writing, BTC is worth $51,951 with a market cap of $1.019 trillion. 

Exactly on February 15th, the price of BTC started to exceed $52,000, reaching the peak of $52,795. 

Despite the various fluctuations, in the last week, the price remains above $50,000, also bringing the positive market sentiment

Today, Bitcoin’s Fear and Greed Index is at a score of 75/100 of enthusiasm. 

Not only that, there is optimism even with price forecasts for Bitcoin

Recently, Robert Kiyosaki, the famous businessman and author of the financial bestseller “Rich Dad Poor Dad”, shared his prediction: the price of Bitcoin will reach $100,000 by June 2024.

Bitcoin (BTC) price prediction at 100,000 USD by June 2024

https://en.cryptonomist.ch/2024/02/19/bitcoin-btc-price-prediction-at-100000-usd-by-june-2024/

Robert Kiyosaki, author of “Rich Dad Poor Dad”, has published his Bitcoin (BTC) price prediction: 100,000 USD by June 2024. 

Bitcoin (BTC) price prediction: $100,000 by June 2024, according to Kiyosaki

Yesterday, the famous author of the financial best-seller “Rich Dad Poor Dad”, Robert Kiyosaki, tweeted his price prediction for Bitcoin (BTC).

“BITCOIN at 100k dollars by June 2024”

According to Kiyosaki, there is no doubt: Bitcoin (BTC) will reach $100,000 by June 2024. 

This bullish forecast consolidates the businessman’s position as a strong supporter of crypto, and “hard assets” such as gold and silver. 

Bitcoin (BTC) price prediction at $100K by June 2024: Kiyosaki against the Fed

The current price prediction for Bitcoin (BTC) at $100,000 by June 2024, perfectly aligns with another prediction already announced by Kiyosaki.

And indeed, exactly one year ago, the author of the best-seller had shared another tweet in which he predicted that the price of Bitcoin will reach $500,000 by 2025. The reason for this bullish trend for Kiyosaki will be a massive crash that will put the Fed in difficulty

As is now known, Kiyosaki has often criticized the Federal Reserve (Fed) and its monetary policies. Specifically, the businessman often accuses the Fed of damaging the economy and favoring the wealthy.

In previous predictions, in fact, Kiyosaki had specified that it will happen that the Fed will be forced to print billions of fake dollars, just to cope with the gigantic collapse that is coming, destroying faith in the US dollar. 

In this scenario, the businessman predicts that only those who will take refuge in gold, silver, and Bitcoin will survive. That’s why his forecast sees BTC at $500,000, gold at $5,000, and silver at $500 by 2025. 

Kiyosaki had predicted in May 2022 the next bear market of Bitcoin, which led it to touch $15,000.  

Bitcoin above $52,000

In order to verify Kiyosaki’s price prediction, all we have to do is observe how BTC will perform in the coming months. 

Meanwhile, however, the queen of crypto seems to remain above $52,000, last price reached just last week (exactly on February 15).

And indeed, at the time of writing, BTC is worth $52,359, up 9% in the last seven days. 

Not only that, even Bitcoin’s market cap seems to have exceeded one trillion dollars, returning to its highs from November 2021, the month of Bitcoin’s all-time high at $69,000.

Gaming: The Cryptonomist in the Evaluation Committee for the Innovation Award

https://en.cryptonomist.ch/2024/02/19/gaming-the-cryptonomist-in-the-evaluation-committee-for-the-innovation-award/

The Cryptonomist is part of the Evaluation Committee to award the Innovation Prize, dedicated to gaming startups. This is the new Innovation District project, signed by ENADA 2024 in partnership with ANGI (National Association of Young Innovators), aimed at enhancing the excellence of the exhibiting companies in the sector. 

Gaming: The Cryptonomist in the Evaluation Committee to assign the Innovation Award

The Cryptonomist will participate in the Evaluation Committee of the new project Innovation District, signed Enada 2024, in partnership with ANGI (National Association of Young Innovators).

Specifically, the Co-Founder and Editor in Chief of The Cryptonomist, Amelia Tomasicchio, is called, along with other professionals, to evaluate the various applications. Up for grabs, there will be the awarding of the Innovation Prize in the gaming and amusement sectors.

And indeed, the project Innovation District aims to enhance the excellence of exhibiting companies in the gaming and amusement sectors. The goal is to create new business opportunities for operators present at the fair who offer technologies, services, and solutions for the sector.

To apply, you just need to be a startup registered in the business register, in the special section of Innovative Start-Ups, or be an Italian (or foreign) company participating for the first time in Enada-RAS, with innovative products. 

Along with gaming, you can also apply for other cross-cutting categories, such as game developer, innovative payment systems, cryptocurrencies, cybersecurity, AI, and more. 

Gaming: The Cryptonomist and the Innovation Award for young startups in the sector

Applications can be submitted by February 29th, by filling out the dedicated form.

Along with the physical space for exhibition, companies will have at their disposal dedicated communication before, during, and after the event. In this regard, three participation packages are provided.

The Evaluation Committee, of which Amelia Tomasicchio from The Cryptonomist is a part, will award four prizes to the declared winners:

  1. Start-Up Innovativa per il gaming;
  2. Innovative Start-Up for the amusement sector;
  3. Exhibitors Innovation Award for gaming;
  4. Exhibitors Innovation Award for the amusement sector. 

The new Innovation District project will be present at the 36th edition of Enada Primavera, the event that will take place from 12 to 14 March 2024, at the Rimini Expo Centre.

National ANGI Award 2023 in the Blockchain and Digital Industry section 

Last December 2023, The Cryptonomist had won the National ANGI Award 2023, in the Blockchain and Digital Industry section.

The award was received by Amelia Tomasicchio, who commented on the whole describing how important it is to contribute and innovate in this sector. 

Amelia emphasized the enthusiasm for the recognition obtained from The Cryptonomist, the first Italian newspaper to talk about crypto, present on the scene as a pioneer for over five years, trying to clarify the sector. 

Chainalysis and Crypto Crime Report: the chapter on money laundering

https://en.cryptonomist.ch/2024/02/17/chainalysis-and-crypto-crime-report-the-chapter-on-money-laundering/

Chainalysis, the on-chain analysis platform, has released the chapter of the Crypto Crime Report dedicated to money laundering. According to what emerged, it seems that in 2023 criminals have laundered $22.3 billion, almost 30% less than in 2022. 

Chainalysis and Crypto Crime Report: money laundering reached $22.3 billion in 2023

Chainalysis has published the money laundering chapter of its Crypto Crime Report 2023.

From what has emerged, it seems that last year 22.3 billion dollars were recycled, almost 30% less than in 2022. 

The blockchain platform highlights that this downward trend can be partly attributed to the overall decrease in the volume of both legitimate and illicit crypto transactions. 

The fact remains, however, that the decline in money laundering activities has been more pronounced. This is a -29.5% decrease in money laundering transactions, compared to a 14.9% decrease in the total volume of transactions. 

In addition, Chainalysis states that overall, centralized crypto-exchanges remain the main destination for funds sent from illicit addresses with 62%

However, the share of illicit funds allocated to DeFi protocols seems to be growing, reaching 13% in 2023.

Chainalysis on money laundering: crypto criminals diversify their activity

In addition to diversifying money laundering activities across multiple services to better conceal them, crypto criminals also appear to be using new tactics. 

And indeed, in the Chainalysis report it is highlighted that overall crypto criminals distribute their activity across multiple addresses belonging to intermediaries or wallets or, furthermore, fiat off-ramping services (such as centralized crypto exchanges).

This happens because with centralized crypto services, companies like Tether (USDT) or Circle (USDC) or CEX can directly intervene and freeze funds. On the other hand, with DeFi protocols, criminal activities can be traced and law enforcement can intervene directly. 

Not only that, crypto criminals are also changing their tactics and strategies, using bridges and mixers more often for money laundering.

For example, well-known North Korean cyber criminals associated with hacker groups like Lazarus Group, tend to use a wider variety of crypto services and protocols.

Not surprisingly, overall, bridge protocols received 743.8 million dollars in cryptocurrencies from illicit addresses in 2023, compared to 312.2 million dollars in 2022. 

Regarding the use of mixers, it seems that after Tornado Cash, hackers affiliated with North Korea preferred the Sinbad mixer in 2022, while YoMix emerged in 2023. Overall, YoMix experienced tremendous growth in 2023, with a more than 5-fold increase in inflows throughout the year.

The explosive growth of “Approval Phishing”

The preview of the Chainalysis Report, published in December 2023, highlights the explosive growth of Approval Phishing.

Only in 2023, in fact, it seems that 374.6 million dollars were stolen through this crypto scam technique, which is part of the “romantic scams”. 

And indeed, with phishing approval, scammers trick the user into signing a malicious blockchain transaction

This user’s signature gives the scammer’s address approval to spend specific tokens within their wallet, allowing them to empty the victim’s address of those tokens at their discretion. 

The strong growth of approval phishing could be due to the increase in decentralized applications (dApps) that require approval signatures, to authorize smart contracts. 

GameStop (GME): the meme crypto on Solana records a -70% dump

https://en.cryptonomist.ch/2024/02/16/gamestop-gme-the-meme-crypto-on-solana-records-a-70-dump/

In the last seven days, the crypto meme GameStop (GME), based on Solana, has experienced a price dump of -70%. In just the last 24 hours, GME has recovered by +50%. 

GameStop (GME): the price of the meme crypto on Solana is on a roller coaster

Looking at the price chart of GameStop (GME), the Solana meme crypto, it feels like being on a roller coaster. 

And indeed, GME is down 70% in the last seven days and up 50% in the last 24 hours. 

At the time of writing, GME is worth $0.0034, while 7 days ago the price was $0.0089 and 24 hours ago it was $0.0022

After all, this February is the first month of life for the Solana-based crypto meme. Its all-time high, in fact, was reached on February 7th at $0.135.

GME wants to be the crypto meme dedicated to the community, without manipulation and any restriction.

GameStop (GME): the Solana-based meme crypto and its price performance 

Obviously, GameStop (GME) does not seem to have any affiliation with the video game retailer GameStop Corp, even though the ticker is still GME. 

And indeed, looking at the price trend of the Solana-based crypto meme, these roller coasters are not present instead for the price of GameStop Corp.’s GME stocks. 

The actions of the videogame retailer are currently worth $14.51 and have increased by 1.11% in the last 7 days, and by 0.69% compared to yesterday. 

Not only that, this price trend of the GME meme crypto does not even reflect that of Solana (SOL).

At the time of writing, SOL is worth $113, up +7% from seven days ago and down -2% from yesterday. 

Contained percentages, therefore, those referring to the trend of GME stock prices and SOL crypto. Different from the -70% and +50% of the GME meme crypto. 

Too young for the category ranking

At the moment, GameStop in the crypto-meme format, is not even listed in the category ranking.

Who knows if it’s because of its youth or its current market capitalization, which seems to be $26.3 million. 

Anyway, GME is still far behind category queens like Dogecoin (DOGE) with 12.48 billion dollars and Shiba Inu (SHIB) with 5.8 billion dollars. 

Not only that, GME is also far from the first crypto meme Solana-based Bonk (BONK), which holds a whopping $873 million market cap. 

And speaking of BONK, here too there has been a price dump of -70% from its all-time high recorded in mid-December, which seems to still need to be recovered.

OKX, Crypto.com, and Halo become partners of the Mocaverse metaverse

https://en.cryptonomist.ch/2024/02/16/okx-crypto-com-and-halo-become-partners-of-the-mocaverse-metaverse/

OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet become partners of the Mocaverse metaverse, with users being able to request their unique Moca IDs in-app. 

OKX, Crypto.com and Halo are new partners of the Mocaverse metaverse

OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet have become the new strategic partners of the Mocaverse metaverse, with the goal of expanding the Moca ID ecosystem. 

“Mocaverse joins forces with @okxweb3, @cryptocom & @HaloDotSocial to expand the Moca ID ecosystem and redefine the #Web3 network effect through the continuously expanding Mocaverse Partner Network (MPN).”

Mocaverse is the associative network project of Animoca Brandes and has embarked on a new journey with leading Web3 wallets, to bridge the gap between centralized finance (CeFi) and the on-chain cultural economy.

In practice, users of OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet will be able to request their unique Moca IDs in-app to enter the Mocaverse ecosystem. This way, users can access various cultural and entertainment experiences.

The Moca ID is used, in fact, to easily explore various Web3 cultural experiences, including PointFi, GameFi, and SocialFi.

OKX, Crypto.com and Halo: Web3 wallets enter the metaverse

Moca ID holders, including users of OKX Wallet, Crypto.com DeFi Wallet, and Halo Wallet who request it, can earn Realm Points through active participation and engagement in partner ecosystems and experiences. 

Not only that, these points can be redeemed to receive, in exchange, exclusive access to real-life benefits and rewards provided by Mocaverse and Animoca Brands.

In this regard, Kenneth Shek, project lead of Mocaverse, said:

“We are incredibly excited to announce the partnership with OKX Wallet, Halo Wallet, and Crypto.com Wallet, some of the leading wallet providers in Web3. This partnership embodies the values and mission we set out when we envisioned Moca ID, which is to make interoperability a new standard for engaging new users and redefining the impact of the Web3 network through the Mocaverse Partner Network.”

Even Jason Lau, Chief Innovation Officer of OKX, has released his statements on the matter: 

“OKX Wallet is the best way to discover and explore the growing realm of Web3 gaming, culture, and entertainment experiences. Our collaboration with Mocaverse to support Moca ID provides our users with the seamless experience and interoperability they expect from OKX Wallet. This integration is just the beginning, and we look forward to working with the teams at Animoca Brands and Mocaverse to bring more users into Web3.”

The activations and marketing initiatives with each partner will start in the first quarter of 2024.

Animoca Brands and Non-Fungible Tokens as a pillar of digital capitalism

Recently, the founder of Animoca Brands, Yat Siu, commented on Non-Fungible Tokens, stating that NFTs are an important component of digital capitalism.

The fact that these tokens give users ownership of digital or tangible assets allows them to transform entire sectors, such as rights management and education. 

Specifically, Siu said that NFTs can revolutionize the distribution of educational content, offering significant financial opportunities, especially in less wealthy regions. According to Siu, the foundations of democracy are property rights and capitalism.

That being said, at the moment, the founder of Animoca Brands, argues that NFTs are still underutilized. Moreover, Siu argues that the blockchain acts as a sort of political system, favoring a democratic process based on consensus. 

Revolut: AI against fraud on customers’ payment cards

https://en.cryptonomist.ch/2024/02/15/revolut-ai-against-fraud-on-customers-payment-cards/

Revolut, the super financial app, has announced the launch of an Artificial Intelligence (AI) based feature to detect fraud on customers’ payment cards. 

Revolut: a new AI-based feature against customer card fraud

Revolut has announced today the launch of a new AI anti-fraud feature, which protects its customers from payment card scams.

In practice, the new feature uses sophisticated machine learning (ML) to detect if a customer is being scammed and then break the spell of the scammer, before the victim sends their money to the criminal. 

This functionality has been developed internally by Revolut’s financial crime team. 

In addition to determining whether there is a likelihood that a customer making a payment with a card is falling for fraud, the functionality acts by refusing the payment, if necessary.

In this way, the customer is protected from making further suspicious payments and is included in the in-app anti-fraud intervention flow.

Here, the customer is required to provide additional information about the transaction in order to verify whether they are a victim of a scam or not. 

The new AI anti-fraud feature is active in the Revolut app and available to customers worldwide.

Revolut and the new AI feature to protect customers from scams

Revolut chooses to use Artificial Intelligence technology to protect its customers from payment card fraud.

Not only that, since the introduction of the feature, Revolut has observed a 30% reduction in reported fraud amounts towards those merchants who are more commonly involved in fraud.

In this regard, David Eborne, Head of Fraud at Revolut, stated:

“We are very excited to launch our new AI anti-fraud feature that implements advanced technology to prevent scammers from taking advantage of ordinary people. We have spent months innovating and testing the product to ensure that customers can continue to spend and send money safely. For example, an increasing number of banks are tightening or heavily restricting the ability to make payments with a card on cryptocurrency and investment websites. With this advanced feature, instead of completely blocking such transactions, we ensure that customers who want to make legitimate payments can continue to do so, while at the same time we can intervene to protect those who are being led by criminals to engage in fraudulent activities, giving our customers freedom and security at the same time.”

The 2022 annual report and the closing for the year 2023

In late December 2023, Revolut app published its 2022 annual report and added its financial forecasts for the closing year 2023.

Already in 2022, Revolut has seen revenue increases from cards and interchange of 105%, for a total of $369 million. Subscriptions have also increased by +48% compared to the previous year. 

Also in 2022, the number of customers reached almost 10 million globally, increasing annual deposits by +71%. 

For 2023, the company had invested in the future growth of the app for a value of 259 million dollars in various activities. For example, 145 million dollars went to the “Sales and Marketing” department, over 78 million dollars in “New products and global expansion”, while the remaining amount went to the “customer experience” sector. 

The investment seems to have yielded an increase in the number of customers, reaching over 35 million, and in the number of employees (there are over 8,000). Moreover, the app has become the most downloaded in the “Finance” category in nine countries and among the top three in 15 countries in Europe. 

Anyway, Revolut’s stated goal was to close 2023 with $2 billion in revenue and achieve a double-digit net profit margin. 

Telefónica integrates Chainlink to counter hacks like “SIM Swap”

https://en.cryptonomist.ch/2024/02/15/telefonica-integrates-chainlink-to-counter-hacks-like-sim-swap/

Telefónica has announced a new partnership with Chainlink (LINK), to ensure security against hacks, such as “SIM Swap”. 

Telefónica and Chainlink: increased security against SIM Swap hacks

Telefónica, the renowned telecommunications service provider, has announced its partnership with the decentralized oracle network Chainlink.

The goal is to increase security against hacks and exploits related to Web3, including “SIM Swap” attacks.

With “SIM Swap”, we mean a form of hacking based on identity theft and false impersonation of the owner of a financial account. 

Specifically, the Telefónica and Chainlink alliance will enable the secure connection of Web3 smart contracts with other APIs of the GSMA Open Gateway.

The GSMA is an organization that brings together over 1,000 mobile operators and companies and has launched the GSMA Open Gateway: the APIs to help bring telecommunications technologies into the Web3 ecosystem. 

The initiative aims to prevent exploits such as “SIM Swap” through the use of the GSMA Open Gateway SIM SWAP API, which will introduce an additional level of security in blockchain transactions. 

Telefónica with Chainlink Labs leverages Chainlink Functions, the market-leading Web3 connectivity solution, to safely connect any API on GSMA Open Gateway to the Polygon PoS blockchain network. 

On this subject, the press release reads:

“This collaboration marks a significant step in integrating Telco capabilities into the blockchain sector and demonstrates the need for secure oracle networks to provide real onchain data. This interconnected ecosystem enhances the functionality and security of Web3 applications, contributing to a more robust and verifiable digital landscape.”

Telefónica and Chainlink: the first use case of the GSMA Open Gateway API against SIM Swap hacks

The first operator to market the new GSMA Open Gateway API against SIM Swap hacks is Vivo, which is Telefonica Brazil.  

In this regard, Yaiza Rubio, Chief Metaverse Officer at Telefónica, stated: 

“Telefónica is pleased to strengthen our relationship with industry leader Chainlink and to present the first use case of the GSMA Open Gateway SIM Swap API, which positions us as an enabler of Web3 and will allow us to guide developers towards the web of the future.”

Even Johann Eid, Chief Business Officer of Chainlink Labs, has released his comments on the matter: 

“Our collaboration with Telefónica on the OpenGateway initiative extends the ways in which the industry-standard Chainlink platform supports security in the blockchain ecosystem. Bringing Telefónica’s OpenGateway APIs onto the blockchain with Chainlink Functions unlocks new use cases and increased security for our industry, ultimately better protecting users and their assets. We are excited to join Chainlink and leading telecommunications like Telefónica in promoting the vision of a verifiable web where users maintain control”.

The report on crypto scams and the new 2024 collaborations of Chainlink

In December 2023, Chainlink had published a preview of its “2024 Crypto Crime Report”. A kind of analysis of crypto scams and their numbers, in anticipation of the new year.

The preview focused particularly on the explosive growth of Approval Phishing, a technique used in romantic scams, which in 2023 alone resulted in the theft of 374.6 million dollars in the crypto sector.  

Stepping away from the scam talk, hacker attacks, and exploits, Chainlink seems to have started its 2024 with a multitude of new partnerships.

Besides the present with Telefónica, the Chainlink oracles have recently been integrated into the PancakeSwap DEX on Arbitrum.

Not only that, Chainlink is also in partnership with Circle, for the implementation of Circle’s cross-chain transfer protocol (CCTP) in its CCIP system. This is a new integration that allows Chainlink to securely manage USDC transfers on different blockchains.

Starknet (STRK): starting from February 20th, the distribution plan of the native crypto begins

https://en.cryptonomist.ch/2024/02/15/starknet-strk-starting-from-february-20th-the-distribution-plan-of-the-native-crypto-begins/

Starknet will begin distributing its native crypto STRK starting from February 20th, with nearly 1.3 million wallets considered eligible to receive the rewards. 

Starknet (STRK): revealed who can already claim the rewards of the crypto airdrop

The long-awaited crypto Starknet (STRK) airdrop is almost here. Starting from February 20th, over 1.3 million eligible wallets will be able to claim their rewards in the native STRK token.

“gm STRK.

Let us introduce: The Starknet Provisions program. The refund request starts on February 20, 2024, at 12:00 UTC. Check your eligibility.”

Currently, the Starknet Foundation has revealed that among the eligible for the program there are the first users of the dapps in the ecosystem, network contributors, Ethereum builders, and external open-source developers to web3.

Specifically, this is a first round of the Starknet Provisions Program, which involves the allocation of Starknet Tokens (STRK) to the community.

In practice, a portion of the 900 million STRK dedicated to the Provisions program (out of a total of 1.8 billion STRK dedicated to the community) will be distributed. 

Starting today, anyone can verify eligibility on the Provisions portal, while airdrop requests will be possible for 4 months after the program launch, specifically until June 20th.

Starknet (STRK): how does the project work and its native crypto?

Starknet is an Ethereum Layer-2 network, which leverages a ZK-Rollup solution to scale decentralized applications. 

The STRK will be used to pay for transaction fees, for staking, and to shape the long-term evolution of the Starknet protocol through participation in governance voting.

The Starknet Foundation believes it is important to involve the Starknet community as much as possible. In this regard, Diego Oliva, CEO of the Starknet Foundation, said:

“The STRK token was created so that scaling based on STARK can occur in a more decentralized manner. The token’s design helps Starknet be community-managed, and Provisions is a powerful means to achieve this goal.”

The STRK tokens that are not claimed during the dedicated four months (from February 20th to June 20th) will be recovered in the pool and distributed in future rounds and/or programs.

Bitcoin (BTC): the market cap exceeds one trillion dollars

https://en.cryptonomist.ch/2024/02/14/bitcoin-btc-the-market-cap-exceeds-one-trillion-dollars/

The Bitcoin (BTC) bull run seems unstoppable, in fact, at the current moment, the price of BTC has surpassed $51,000. Not only that, the total market cap of BTC has returned to its November 2021 highs, surpassing one trillion dollars. 

Bitcoin (BTC): market cap above one trillion dollars as of November 2021

The total market cap of Bitcoin has once again surpassed one trillion dollars. It has been since November 28, 2021, that BTC has reached this figure in terms of market capitalization.

November 2021, is also the month in which BTC reached its all-time high price of $69,000, reaching a market cap peak of $1.220 trillion. 

Big numbers that also reflect Bitcoin’s price performance, which, at the time of writing, is $51,800. Again, the same price was last reached at the end of November 2021. 

Not only that, being bitcoin the leader of the crypto market, its milestone is also increasing the total market cap of cryptocurrencies, which has surpassed 2 trillion dollars. This figure has not been seen since April 2022. 

Market cap and BTC price have increased by 3.6% in the last 24 hours, while the trading volume of the queen of crypto is up by 6.40%. 

Bitcoin: as BTC’s market cap rises, market sentiment is also optimistic

Just today, it has been reported also the Fear and Greed Index for Bitcoin which seems to be stuck at a score of 74.

This index measures the overall market sentiment for BTC of the previous day, and it seems that since the end of January it has consistently been in the greed zone (enthusiasm). 

Specifically, the score of 74 had not yet been reached during the price rally that brought BTC from $30,000 to $40,000. Surpassing $50,000, the current score is higher in the excitement zone.

This optimism can also come from the hypothesis that a new major bull run for Bitcoin has started. This hypothesis is supported by users who have bet on BTC at $65,000, $70,000, or even $75,000 on the specialized crypto derivatives exchange, Deribit.

The meme of the US President with bitcoiner laser eyes

In these days, a new tweet has appeared on the official account of Joe Biden, the President of the USA, with an image depicting the President with laser eyes, typical of a bitcoiner.

Seeing the image, the natural question arose whether Biden had become a supporter of Bitcoin or not. 

Apparently the definitive answer seems to be a no. However, the team in charge of social media on behalf of the President wanted to copy the crypto aesthetic for political reasons. 

The laser eyes of the bitcoiner, in fact, are focused on Biden to refer to the “Dark Brandon”, the meme that Democratic activists are trying to push.

Sandbox (SAND) and ApeCoin (APE): what impact will the token unlock have on the price?

https://en.cryptonomist.ch/2024/02/14/sandbox-sand-and-apecoin-ape-what-impact-will-the-token-unlock-have-on-the-price/

Both Sandbox (SAND) and ApeCoin (APE) are about to activate the “token unlock”, releasing additional units into the market that will be added to the current circulating supply.

What effect will this event have on the price of the two cryptocurrencies?

Sandbox (SAND) and ApeCoin (APE): the situation before the token unlock

Sandbox (SAND) and ApeCoin (APE) are unlocking tokens, releasing a cumulative value of 125 million dollars in tokens on the market. 

Specifically, SAND has already been released for a value of 95 million dollars, while APE will be released on February 17th for a value of almost 25 million dollars.

So, at the time of writing, the SAND tokens have already been unlocked by sliding the price of SAND from $0.48 to $0.46, and then recovering in the last few hours. At the time of writing, in fact, SAND is worth $0.48.

The unlock represents 10% of the total SAND supply and will bring the total supply in circulation to almost 90%.

As for ApeCoin, the unlocking of tokens will take place on February 17th, and represents just over 2.5% of the circulating supply.

During this waiting period, APE seems to record a +4.45% price pump in the last 24 hours. Currently, in fact, APE is worth $1.57. 

Sandbox (SAND) and ApeCoin (APE): how does token unlocking work?

In reality, when the unlocking of crypto project tokens occurs, what can happen is an increase in selling pressure, if the demand for the token does not keep up. 

And in fact, unlocked tokens become available for trading, buying and selling after the end of their maturity period. Not only that, these tokens are typically matured for early investors, treasury, and public sale investors.

The short-term sale that usually occurs in these cases has been well managed by SAND, which is already in the recovery phase. 

To be discovered, instead, will be what will happen to APE since the crypto is already now in a price pump. 

Real-time competition in gaming and the launch of the Accelerator

Recently, The Sandbox announced its collaboration with Unstoppable Domains, to organize a first real-time competition dedicated to award-winning professionals of the game studio. 

This is Unstoppable Experience, which also wants to inaugurate the entry into the decentralized metaverse of the leader in the supply of Web3 names and domains.

The experience includes a live multiplayer game, where up to four players compete to achieve the highest score by painting the most tiles in the MetaCube with their own avatar. 

Going back in time to October 2023, ApeCoin instead launched its official Accelerator together with Forj, the subsidiary of Animoca Brands. The goal is to strengthen the ApeCoin ecosystem and improve opportunities for APE holders.

Crypto.com presents Prime and Cronos (CRO) records a +10% pump

https://en.cryptonomist.ch/2024/02/14/crypto-com-presents-prime-and-cronos-cro-records-a-10-pump/

Crypto.com has launched the new Prime program, which offers benefits such as an unsecured 1% deposit bonus. Prime is dedicated to high net worth traders, as the minimum deposit is 1 million dollars. 

Meanwhile, this week, Cronos (CRO) recorded a pump of +10% but it is still far from the levels of early December 2023. 

Crypto.com and the launch of the Prime program 

This week, the renowned Crypto.com platform has launched Prime: the program to build a generational wealth. 

“Introduction of http://Crypto.com Prime, designed for those building a generational wealth. Exclusive to high net worth traders, Prime offers: Unrestricted 1% deposit bonus; Institutional-level trading; Customized tax and succession services; Dedicated 24/7 support and much more. Currently by invitation only.”

In practice, Crypto.com Prime wants to give recognition to high net worth traders, to build wealth that lasts for generations.

Specifically, for members of the new program there are exclusive benefits at stake. 

On the official website, these advantages are listed and include 1% unlimited deposit bonus; near-zero trading fees; institutional-level trading and deep liquidity; $1 million account protection; unlimited fiat transfers; customized tax and succession services; dedicated relationship manager; Crypto.com Prime card and much more.

Currently, Crypto.com Prime is available in the United States, Canada, Singapore, United Kingdom, Brazil, Argentina, European Economic Area (EEA), and South Africa.

Not only that, in order to access the new program, a minimum deposit of 1 million dollars is required, as well as obtaining the invitation. 

Crypto.com Prime and the price performance of Cronos (CRO)

Regarding Crypto.com Prime, Kris Marszalek, CEO of Crypto.com, wanted to comment as follows:

“Prime will offer retail customers with a high net worth a product with advantages typically reserved for institutional traders. We have built a completely new trading flow that aggregates multiple order portfolios to offer hypercompetitive prices with commissions close to zero. We are also offering an unlimited 1% deposit bonus and in the near future we will add features such as margin trading for Prime users.”

It has already been a week since the announcement of Crypto.com Prime started circulating online, and, looking at the crypto market, it seems that investors have appreciated it.

And indeed, Cronos (CRO), the native crypto of Crypto.com, has recorded a +10% pump in the last seven days. At the time of writing, CRO is worth $0.09.

The 42nd crypto by market cap, however, has recorded a volume decrease in the last 24 hours, amounting to -30%. 

The Dubai VASP license and the CRO price of November 2023

Among the latest news from Crypto.com, we remember the latest license obtained by the crypto-exchange directly in Dubai, as a provider of virtual asset services (VASP).

This license gives a sense of expansion to the crypto-exchange that, like all others, cannot rely on US regulation in the crypto field. 

It was November 2023, and even after that announcement, CRO had recorded a price pump reaching a peak of $0.12. However, immediately after, CRO returned to $0.08.

Compared to that November, however, Cronos (CRO) seems to have dropped in the crypto ranking, despite its market cap increasing from 2.23 to 2.27 billion dollars. Today CRO is in 42nd place, while in November 2023, it was in 30th place. 

Peter Thiel: the former CEO of PayPal’s fund has invested $200 million in Bitcoin and Ethereum

https://en.cryptonomist.ch/2024/02/13/peter-thiel-the-former-ceo-of-paypals-fund-has-invested-200-million-in-bitcoin-and-ethereum/

The Founder’s Fund, led by Peter Thiel, former CEO of PayPal, has invested a whopping $200 million in Bitcoin and Ethereum in 2023. 

Peter Thiel: The former CEO of PayPal’s fund has invested in Bitcoin and Ethereum in 2023 

Last year, Peter Thiel’s fund, former CEO of PayPal, invested a whopping 200 million dollars in Bitcoin and Ethereum. 

It is revealed by Reuters, which claims that the venture capital company founded by billionaire Peter Thiel, Founders Fund, would have invested a substantial amount between summer and autumn 2023.

A renewed interest from Silicon Valley in the crypto-market, therefore, with the investment taking place before the latest price surge of cryptocurrencies. 

The Thiel fund has invested $200 million, half ($100 million) in BTC and the other half ($100 million) in ETH. 

The present investment in crypto is not the first by Founders Fund. In fact, already in 2014, the fund would have started aggressively buying Bitcoin, but they were liquidated before the November 2022 crash, from which approximately $1.8 billion in profits were made.

Peter Thiel: the former CEO of PayPal is once again profiting from investments in Bitcoin and Ethereum

At present, therefore, the former CEO of PayPal’s fund seems to still be profitable

And indeed, last summer, Founders Fund began buying Bitcoin when it was below $30,000. In the following months, additional BTC along with ETH were purchased. 

Looking at the charts both for BTC and ETH, the trend appears to be bullish for both. 

Specifically, since the end of October 2023, BTC has started its bull run which has seen it surpass $50,000 just yesterday. 

As for Ethereum (ETH), on the other hand, the bull run started in mid-November, with the price going from $1900 to over $2600 today. Last summer, the price of ETH remained below $2000.

Investments in the crypto sector

Peter Thiel seems to be a major investor in crypto projects. In April 2022, during the crypto winter, the Founders Fund together with Pantera Capital, led a $20 million Series A funding round for Ondo Finance.

Actually, Ondo Finance’s was the first time Peter Thiel’s fund led an investment in a token-based project. 

Not only that, in May 2021, Peter Thiel, through his Thiel Capital, would have invested to support the crypto-exchange Bullish, created by Block.One..

This involvement of the billionaire in the crypto world responds to Thiel’s own statements that, in February 2021, he explicitly expressed himself bullish on Bitcoin.

Joe Biden Bitcoin supporter? The meme of the US President with laser eyes

https://en.cryptonomist.ch/2024/02/13/joe-biden-bitcoin-supporter-the-meme-of-the-us-president-with-laser-eyes/

The President of the United States, Joe Biden, appeared yesterday on X with his laser-eyed image, typical of Bitcoin supporters. 

Biden has become a bitcoiner? Apparently not. But the team in charge of social media on behalf of the President wanted to copy the crypto aesthetic for political purposes. 

Joe Biden and the meme about X with laser eyes: is the President of the USA a supporter of Bitcoin?

Yesterday, a meme with his image and laser eyes, typical of a bitcoiner, was posted on the official X account of the President of the USA, Joe Biden. The natural question arises: Has Biden become a supporter of Bitcoin?

“Just as we designed it”

According to what is reported by CoinDesk, it seems that Biden has not suddenly become a supporter of Bitcoin

In practice, the image shared by the team of the President of the USA refers to the “Dark Brandon”, a meme that Democratic activists are trying to push.

These are therefore issues outside the crypto space, although today, Bitcoin (BTC) has surpassed the $50,000 threshold.

Joe Biden did not become a supporter of Bitcoin

To know more about what lies behind the Biden meme with laser eyes on X, it seems to be a response to the Kansas City Chiefs’ defeat against the San Francisco 49ers on Sunday. 

In practice, Biden with inflamed eyes would be a response to the right-wing conspiracy theory, according to which the Biden administration would have rigged the Super Bowl to secure the support of billionaire superstar Taylor Swift.

In this regard, as reported by Mashable, the President would have posted the unsettling portrait that liberals have reinterpreted and used since 2022, to depict Biden as a superhero.

“The genesis of the Dark Brandon meme is an internet peak, which means that its story is obscure and difficult to trace. As explained by Vox in 2023, the meme seems to have originated during a NASCAR Xfinity Series race in October 2021, when NBC journalist Kelli Stavast interpreted the crowd chants of “F**k Joe Biden!” as “Let’s go Brandon!” during a live interview with the winning driver Brandon Brown”.

Not by chance, Swift has already campaigned for Biden in 2020, and has recently started dating Travis Kelce of the Kansas City Chiefs. 

In addition to this, Swift’s current fame, with her Eras tour considered the highest-grossing of all time, could be a strong support for Biden’s party. 

BTC surpasses the $50,000 wall

The +5% pump in the last 24 hours has brought the price of Bitcoin to exceed the $50,000 threshold.

At the time of writing, in fact, BTC is worth $50,070. But that’s not all. This price is a figure that has not been seen since December 2021, the month following BTC’s all-time high of $69,000.

We are at a -27% level to reach the ATH (All-Time High) of Bitcoin. This is why some people believe that in 2024 it will be easy for BTC to surpass its own all-time high.

Jito: new delegates to crypto governance include Coinbase Cloud, Solana, and others

https://en.cryptonomist.ch/2024/02/13/jito-new-delegates-to-crypto-governance-include-coinbase-cloud-solana-and-others/

The Solana-based crypto project, Jito (JTO), has appointed the new 17 delegates to its governance, including individuals from Coinbase Cloud, the Solana Foundation, and its own community.

Jito Foundation has allocated 12 million JTO for the new 17 delegates as cumulative voting power. 

Jito: the crypto project announces 17 governance delegates including Coinbase Cloud, Solana Foundation, and others

The liquid crypto staking platform, Jito, announced today 17 new delegates to its governance, including individuals from Coinbase Cloud, the Solana Foundation, and its own community.

“We are pleased to announce the initial cohort of delegates to the governance of the Jito Foundation! These 17 delegates include representatives from various cryptocurrency companies, service providers, node operators, and development teams.”

In practice, the Jito Foundation evaluated the delegates based on perceived alignment with the future of the Jito network, independence from the Jito team, history of participation in governance, and expertise in the field. 

Not only that, to ensure a range of opinions, other protocol representatives and developers, node operators, and community members have also been included in the selection. 

In the list of 17 new delegates to the governance of Jito, therefore, there are people from Coinbase Cloud, such as Andrew Allen, and from the Solana Foundation, such as Ben Hawkins. Furthermore, the list also includes the research company Gauntlet, the infrastructure platform Chainflow, and the marketing agency Flipside.

Jito: 12 million JTO allocated for governance delegates like Coinbase Cloud and Solana Foundation

The Jito Foundation has also declared to have allocated 12 million JTO tokens as cumulative voting power that will be distributed fairly among the 17 delegates. This amount represents 10% of the circulating supply of JTO tokens. 

In this regard, Lucas Bruder, Core Contributor of Jito Network, said:

“Historically, Solana’s governance has not been as active compared to other chains. We hope that the Jito Foundation’s delegation program can establish a new benchmark for governance on Solana.”

The delegates will use their voting power to guide the future direction of the project through the governance forum. 

The public staking project and the price of JTO

Jito is a liquid staking project developed on Solana that allows you to stake your SOL on the protocol, and earn JitoSOL, which can then be used to optimize your profits by receiving MEV rewards.

Its current Total Value Locked (TVL) is over 868 million dollars. In the ranking of Top DeFi Projects on Solana Blockchain, Jito is in fourth place with 2.65k UAW.

With a total market capitalization of over 250 million dollars, the Jito (JTO) token is ranked 194th in the overall crypto ranking. 

The price of JTO is currently $2.14, up +20% in the last seven days, but still down -20% compared to a month ago. 

Nigeria: crypto regulation requested to stop bad actors and more

https://en.cryptonomist.ch/2024/02/12/nigeria-crypto-regulation-requested-to-stop-bad-actors-and-more/

The co-founder of A&D Forensics, Adedeji Owonibi, stated that there is a need for crypto regulation in Nigeria to stop bad actors and financial crimes. 

Nigeria: crypto regulation necessary to stop financial crimes

According to reports, it seems that a request for crypto regulation has been made in Nigeria, in order to stop financial crimes such as money laundering. 

This is Adedeji Owonibi, co-founder of A&D Forensics, who accuses the lack of crypto regulation in the African country is allowing all forms of practices to go unchecked.

In this regard, Owonibi spoke during a training course organized by Blockchain & Digital Forensic for cryptocurrency compliance specialists:

“Nigeria should fully regulate crypto-assets within the country and establish laws for this purpose, because without law, there is no crime.”

Basically, recently, the Central Bank of Nigeria (CBN) has revoked the ban on crypto transactions, allowing banks to manage accounts for Virtual Assets Service Providers (VASP).

At the same time, however, Owonibi emphasizes that there is no control and that banks can be used as a means to launder money and perpetrate other criminal activities. 

Here, in fact, is how Owonibi’s speech continues:

“Financial institutions, such as banks, need to ensure that the VASPs for which they open accounts are compliant exchanges and not gateways for people trying to launder money, sell drugs, or finance terrorism worldwide. If a platform allows this to happen, the Central Bank says it is guilty as an accomplice. Therefore, these financial institutions must try to ensure that all the money passing through their exchange is not used for criminal activities, and one way to do this is to hire the services of a compliance officer who will use the necessary tools to report them immediately.”

Nigeria: Owonibi believes the government needs to do more on crypto regulation

Owonibi then emphasized that the Nigerian government needs to do more in terms of crypto regulation.

Being an expert in training, Owonibi also refers to training all security officials in the country to combat financial crimes.

In this regard, the co-founder of A&D Forensics claims to have hosted law enforcement crypto agents in his training courses, including police officers and members of the Economic and Financial Crimes Commission (EFCC). 

Not only that, Owonibi has also declared to collaborate with the Nigerian Financial Intelligence Unit. 

Despite this involvement, Owonibi emphasizes that it must be the government of the country that must do something more to create and implement clear regulation on cryptocurrencies. 

CBN guidelines for banks opening crypto accounts

Staying on the topic of crypto regulation in Nigeria, last month news leaked that the CBN has published guidelines for banks opening crypto accounts.

Actually, the circular with the new guidelines on the crypto topic had been sent on December 22, 2023, but the Central Bank of Nigeria made it public only at the beginning of 2024. 

This move is in line with the recommendations of the FATF (Financial Action Task Force) of the G7, which calls for the regulation of VASPs. 

Among the various news, the ban on banks holding or trading cryptocurrencies on their own behalf remains in force. In this sense, the guidelines only refer to the accounts of their customers. 

Not only can these customers carry out crypto-related transactions, but they cannot withdraw cash. Additionally, VASPs will have to provide information about the nature of their relationship with banks. 

In this way, the CBN provides minimum standards and requirements in order to monitor the activity of VASPs. 

Ethereum: the waiting list for validators is growing along with the interest in staking

https://en.cryptonomist.ch/2024/02/12/ethereum-the-waiting-list-for-validators-is-growing-along-with-the-interest-in-staking/

The waiting list for Ethereum validator nodes has risen to 7,045, signaling a renewed interest in staking.

Ethereum and the increase in the waiting list to become a network validator

According to ValidatorQueue’s data, it seems that the waiting list to become new Ethereum validators has increased to 7,045. This value is the highest since October 6, 2023.

This means that the number of users who have joined the queue to register as validators of the network has increased, which will only be possible by staking their ETH.

Not only that, the current long waiting list seems to represent over 225,000 ETH, equivalent to 562 million dollars. In general, it will take about 48 hours to clear the registration queue. 

And in fact, Ethereum limits the number of new validators that can join the network for the time it takes to process blocks on the blockchain. In practice, this moment lasts approximately 6.4 minutes.

The limit causes a backlog of registrations that leads to a waiting list for new validators, who are already ready to stake their ETH. 

Specifically, to become an Ethereum validator, it is necessary to stake at least 32 ETH, in order to participate in the execution of the blockchain through Proof-of-Stake. Each validator, in exchange for the staked amount, receives a constant yield rate. 

Ethereum: the increase in waiting validators signals a renewed interest in staking

The long waiting list for the new Ethereum validators, in a way, also signals a renewed interest in thestaking activity.

To confirm this theory is David Lawant, research manager at institutional crypto-exchange FalconX. In this regard, Lawant says:

“The resumption of staking activity on Ethereum indicates the first signs of renewed vitality”

What is perplexing, however, is that this rush to stake future Ethereum validators is not improving the percentage of return obtained. 

And indeed, this yield percentage on ETH in staking is still 4%. 

The price of ETH recovers ground and forecasts 

At the time of writing, ETH has a price of $2,477, up +7% in the last week, and down -1.8% in the last 24 hours. 

In reality, looking at the monthly chart, it seems that ETH is recovering ground, trying to reach again the $2,600 mark of mid-January 2024, which represents the highest price of the last year. 

Anyway, there are those who remain super positive about ETH price predictions, expecting a doubling by the end of 2024. This is the survey conducted by Fintech, which revealed the responses of 40 crypto industry experts who are optimistic about the future of Ethereum.

And indeed, the forecasts speak of $5000 by the end of 2024, but also of figures exceeding four zeros within the next six years. 

Bitcoin news: MrBeast’s millionaire investment

https://en.cryptonomist.ch/2024/02/12/bitcoin-news-mrbeasts-millionaire-investment/

Latest Bitcoin news: MrBeast, the famous YouTuber, is also a BTC holder for millions of dollars since 2021. The current price of $48,260 has returned to be higher than the value of his initial investment, which was $46,300.

Bitcoin news: YouTuber MrBeast is a holder of millions of dollars worth of BTC

It was September 2021, when the famous YouTuber, MrBeast, declared in an interview with Logan Paul, to be a Bitcoin investor.

Specifically, MrBeast, whose real name is Jimmy Donaldson, had confirmed that he had invested 1.5 million dollars in Bitcoin eight months earlier, when the price of BTC was $46,300. 

Looking at the Bitcoin price chart, it is easy to notice how the investment of the YouTuber known for his flashy stunts and expensive content took place around the beginning of February 2021.

And indeed, during that period, the first price increase of Bitcoin ever started, reaching $63,500 in April 2021. This price then dropped and rose again in November 2021, reaching the absolute ATH – All Time High of BTC at a price of $69,000.

At the time of writing, therefore, with BTC worth $48,260, we are once again surpassing for the first time since 2021, the initial investment price level of MrBeast of $46,300. From here, this is how MrBeast is once again a holder of millions of dollars worth of Bitcoin. 

Bitcoin News: BTC price above $48,000

At the time of writing, the price of Bitcoin (BTC) is $48,260, which represents the highest price of the past year. 

And indeed, the current bull market sees the price pump of Bitcoin at +121% in the last year, and +5% in the last month. Not only that, BTC is experiencing a pump of +13% in the last seven days. 

A moment of total green for the queen of crypto, which sees its total market cap approaching one trillion dollars. And indeed, Bitcoin’s market cap is currently 946 billion dollars. 

The last time Bitcoin surpassed $48,000 was in March 2022, immediately triggering the “crypto winter”. 

MrBeast and Bitcoin in the bio on X

Just as he made his $1.5 million investment in Bitcoin in February 2021, MrBeast had also included Bitcoin in his bio on his Twitter profile, like Elon Musk.

It was a simple bitcoin hashtag that the YouTuber had exposed to his over 9 million followers on Twitter at that time. 

As of today, MrBeast’s followers on X have increased, reaching 28.6 million, but there is no trace of the bitcoin hashtag in the profile. 

Anyway, MrBreast’s “Elon Musk-style” move has been replaced by a pinned tweet from the YouTuber, which shows a conversation between him and the owner of X. 

Crypto horoscope from February 12th to 18th

https://en.cryptonomist.ch/2024/02/11/crypto-horoscope-from-february-12th-to-18th/

New week, new crypto horoscope dedicated to the upcoming week from February 12th to 18th.

This week will be characterized by three transits:

  • Mars enters Aquarius from Tuesday 13/2;
  • Venus enters Aquarius from Friday 16/2;
  • Stellium in Aquarius.

For several months now, we have been dedicating space to the crypto horoscope written by Stefania Stimolo, an expert in astrology and blockchain. It is a weekly column with the horoscope for each zodiac sign available every Sunday only on The Cryptonomist. 

In our slogan of “Telling the Future”, we wanted to delve into the topic, jokingly speaking, with this entertainment column. 

The crypto horoscope

We call it crypto horoscope simply because it uses industry terminology. 

Words like NFT, metaverse, and Over-The-Counter to describe actions and scenarios, but also trading terminology like bullish, bull run, bear market, or dump to identify the mood of each zodiac sign during the days of the week.

Obviously, the famous to-the-moon cannot be missing to indicate the mood of that sign! 

In general, you may experience a period of “hard-fork”, meaning an inner split, or pass your lightning torch to the next zodiac sign, considering that the Sun is transitioning to the next sign. 

Or, simply, you need to reflect on some situations that are in “verify”, that is when the planet is in dissonance with the zodiac sign. Not only that, with each new change of guard of the Sun through the constellations of the zodiac, the roadmap of each sign will touch a new step. 

Obviously no investment advice is given, in fact, it is pure entertainment, just like any other horoscope. It must be said that there are many beginners in the field who have understood the specific crypto terminology also thanks to the horoscope on The Cryptonomist. 

“Don’t Trust, Verify”

Astrology is not an exact science, but it wants to predict the future in its own way. So why not associate the typical phrase of the blockchain “Don’t Trust, Verify” here as well. 

And indeed, what the author wants to propose is her interpretation of the planetary transits that occur during the week, describing the reaction of each zodiac sign, following the “logic” of traditional astrology. 

For those who are astrology enthusiasts, they could stay updated even just on the transits that are communicated weekly, which somehow influence us. A Mercury Retrograde, as well as the days of the Full Moon. 

Others, on the other hand, may access the dedicated page, which is updated every Sunday, and read the horoscope of their zodiac sign, their rising sign, or why not, even the horoscope of friends and loved ones. 

And so, just for entertainment purposes, don’t waste time and click here to read your horoscope for this week!

Ethereum at the forefront among the blockchains most affected by crypto scams

https://en.cryptonomist.ch/2024/02/10/ethereum-at-the-forefront-among-the-blockchains-most-affected-by-crypto-scams/

A new report reveals that Ethereum has been the most affected blockchain by crypto scams in the last year, with a value of £576.6 million stolen.

Ethereum is the blockchain most affected by crypto scams

According to an analysis of the REKT database, by Smart Betting Guide, it seems that Ethereum is leading the ranking of the most affected blockchains by crypto scams in the last year.

This study has taken into account the most common scams, cumulative losses, and vulnerable blockchains.

In this sense, Ethereum has seen £576.6 million stolen, taking into account all the funds returned (£152.2 million), with losses exceeding 605% compared to the average of the blockchain.

The report also adds that the crypto scam that has resulted in the highest loss for the Ethereum blockchain is the one involving access control exploits. In this type, scammers exploit a vulnerability in the system to gain direct access to user credentials or data.

Apparently, however, Ethereum doesn’t seem to be the only blockchain most affected by crypto scams. 

Ethereum and the ranking of the most affected blockchain by crypto scams in the last year

The report has published a real ranking, with the top 10 blockchains with the highest losses in 2023. 

After Ethereum, in fact, the Bitcoin Blockchain takes the podium with over 209 million pounds, followed by Polygon with over 98 million pounds stolen.

Right below the podium, there are Centralized, Cardano, and Binance. Here, the most common detected crypto scams were respectively “access control exploit” for the first two and “rug pull exit scam” for Binance.  

In the last four positions of this ranking, there are then Arbitrum with over £63 million stolen, Avax with £15 million, Optimism with £14 million, and Heco with £6 million stolen. 

Another ranking, then, sees the top 5 biggest crypto scams in 2023, based on funds lost. Here, in first place, there is the crypto scam “access control” which has seen more than £665 million lost and the most affected blockchain is once again Ethereum. 

Following, the crypto scam of “rug pull” saw a total loss of £110 million in 2023, with the most affected blockchain being Binance. In third place, the crypto scam “oracle issue” was identified, with over £104 million stolen, mainly on the Polygon blockchain. 

The “flash loan attack” and “phishing” are the crypto scams that managed to steal a whopping 77.5 million and 58.8 million pounds during 2023. The most affected blockchains are Arbitrum in the first case, and Ethereum for phishing.

How not to fall into traps

As cryptocurrencies grow in popularity, crypto scams are also experiencing a strong growth. However, it is possible to protect oneself from scams by identifying warning signs. 

In this regard, Zigmas Pekarskas, CEO of Smart Betting Guide, stated:

“The most obvious sign is if someone is typing to access your private information, such as security codes or login data. Do not share your personal information unless you are 100% sure that the request is secure, especially if you have been contacted randomly via SMS or email. Also be wary of returns, discounts, or tokens that seem “too good to be true.” If you know that a cryptocurrency is particularly volatile, be cautious before accepting investment support. Make sure you understand how cryptocurrencies and blockchains work so that you can identify any discrepancies that may allude to ulterior motives. Make sure to only operate through reliable exchanges and always use a secure electronic wallet to store funds.”.

In the special case of approval phishing, recently Eric Jardine, the Cybercrime Research Lead at Chainalysis, has also expressed his opinion, describing the crucial aspects.

And indeed, Jardine has described how in this crypto scam, the scammer specifically chooses their victim (as in the case of romance scams), building a relationship with them to gain their trust. Once gained, the scammer will be able to get the fraudulent transaction signed and approved. 

According to Jardine, a solution to the problem should be that the crypto sector, and therefore the projects, should educate their users more, in order to protect them from cryptocurrency thieves. 

DeFi: Pendle one step away from reaching 1 billion dollars of TVL

https://en.cryptonomist.ch/2024/02/09/defi-pendle-one-step-away-from-reaching-1-billion-dollars-of-tvl/

The DeFi Pendle platform is one step away from reaching 1 billion dollars of Total Value Locked (TVL). The surge of interest has come in these first months of 2024. 

The DeFi Pendulum and the $1 billion Total Value Locked horizon 

Pendle, a decentralized finance (DeFi) platform that offers returns in the form of tradable digital tokens, is one step away from reaching 1 billion dollars of Total Value Locked (or TVL). 

“2nd metric unicorn just in time for New Year’s Eve. Many more to come in the future”

On DefiLama, at the time of writing, Pendle’s TVL has reached $992 million. But looking at the chart, it is clear that this surge of interest has exponentially increased since the beginning of this 2024.

Specifically, on January 1, 2024, Pendle’s TVL was at $233 million, marking the start of the race to a million. In just one month, Pendle’s TVL tripled, reaching $611 million by early February. 

Not only that, the graph shows an even steeper rise for these first 10 days of the month, which in fact sees it approaching 1 billion dollars. 

Pendle as a pioneer in Liquid Restaking Token Finance (LRTFi) DeFi 

The current strong interest in Pendle seems to reevaluate its work, emphasizing the Liquid Restaking Token Finance (LRTFi).

This is a new sector of DeFi that allows liquidity of staked assets through the issuance of liquid restaking tokens (LRT), allowing users to earn rewards while their original assets are locked to ensure network services.

In this regard, the developer of Pendle RightSide said:

“The influx of interest in Liquid Restaking Tokens has been the main driver of Pendle’s recent growth […]. Pendle is one of the early pioneers of LRTfi and offers users a unique proposition to speculate on yields and EigenLayer points.”

The addition of “innovation zone” on Binance and the launch of the Real-World Asset (RWA) based product

The race to increase Pendle’s TVL, albeit at a slower pace, began in the summer of 2023. 

Specifically, during the month of July, the Pendle token (PENDLE) was added to Binance’s “innovation zone” program. This caused the price of PENDLE to fluctuate like a roller coaster, jumping from $0.8 to $1.3 in a few minutes, then dropping to $1 and back to $0.8.

At that moment, even Pendle’s TVL had risen from 123 to 153 million dollars in just one month. 

Not only that, in the month of August 2023, Pendle then announced the launch of its first product based on real-world assets (RWA).

This is a combination of MakerDAO’s Boosted Dai Savings (sDAI) and Flux Finance’s stablecoin fUSDC. 

Through RWA, Pendle has started offering users the usual returns in the form of tradable tokens but with additional earnings derived from traditional sector revenues. In fact, it is the sDAI and fUSDC that generate returns from traditional financial sectors. 

Returning to the present day, at the time of writing, PENDLE is worth $2.90, with a pump of +132% in the last month, and +3080% in the last year. 

Bitpanda: the cryptocurrency exchange eliminates deposit and withdrawal fees

https://en.cryptonomist.ch/2024/02/09/bitpanda-the-cryptocurrency-exchange-eliminates-deposit-and-withdrawal-fees/

Bitpanda, the cryptocurrency exchange, is making several new changes to the platform, including the removal of deposit and withdrawal fees for all currencies. 

Bitpanda and the new changes to the exchange: zero fees on withdrawals and deposits for all cryptocurrencies

Bitpanda is making new changes to its crypto trading platform. The most striking one, announced at the beginning of this month, is the elimination of all deposit and withdrawal fees for all currencies.

“We are always looking for ways to make investments even easier, so you can maximize your potential returns. That’s why we’re excited to announce that you can now make free deposits and withdrawals from your Bitpanda account in all currencies and with all payment methods.”

A move that aims to allow its users to make more flexible decisions, and choose to invest in the 2800 assets available on the crypto-exchange. 

On Bitpanda, therefore, withdrawals and deposits become zero-fee, regardless of whether you use PayPal, recently added as a payment method, Apple Pay, or credit and debit cards. 

Not only that, the Austrian broker has also increased the payment limits on the entire platform. For example, the daily limit for credit cards has been raised from €10,000 to €20,000, well above market standards. 

Bitpanda: the changes of the cryptocurrency exchange to create a new European standard

With these changes, Bitpanda becomes the European broker that now offers one of the highest daily and monthly limits available in Europe. 

In this regard, Eric Demuth, CEO and co-founder of Bitpanda, commented: 

“Bitpanda is the leader in the European market and we are accustomed to taking bold steps on behalf of our customers. The elimination of all deposit and withdrawal fees sets a new standard and ultimately will provide investors with an even better user experience.”

Not only that, Bitpanda has also announced that it will add several new local verification methods. The idea is to undertake greater localization in various key markets throughout the year.

Even here, Demuth commented as follows:

“To be successful, we must be a local actor in every market we operate in. This means being more local and more accessible to everyone, regardless of their location. Our field teams in each market make on-the-spot decisions to convince a unique target group. It starts with using the most common local verification method and ends with the most widespread payment method in that market. We are able to eliminate payment fees for one reason: Our users always demand the best once they decide to trust Bitpanda.”

The partnership with the traditional bank RLB NÖ-Wien

Last month, Bitpanda announced its partnership with the traditional bank Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien), to offer crypto trading.

In practice, through the mobile banking app “Mein ELBA”, bank users can digitally invest in cryptocurrencies, precious metals, and other asset classes. 

The user-friendly white-label integration of Bitpanda aims to make “trading for everyone” possible by providing a clear and understandable overview of all assets within the app. 

Coinbase: crypto to save $74 billion in credit card fees

https://en.cryptonomist.ch/2024/02/08/coinbase-crypto-to-save-74-billion-in-credit-card-fees/

Coinbase has published a report revealing that, in 2022 alone, Americans could have saved $74 billion if they had paid with crypto instead of credit cards. 

Coinbase and the report on crypto vs. credit cards

The latest State of Crypto Report by Coinbase focuses on the traditional financial system vs. the use of blockchain and crypto.

What emerged is that only in 2022, Americans could have saved 74 billion dollars in credit card transaction fees by using blockchain technology. 

“Only in 2022, Americans could have saved $74 billion in credit card transaction fees by using blockchain, which is $600 per family. But it’s not just about saving money. It’s about giving everyone control and ownership of their own money.”

This figure of $74 billion, is equivalent to an average of $600 per family, used therefore to maintain the traditional financial system that involves intermediaries in payments. Not only that, merchants have also spent over $126 billion in fees to process credit card transactions.

By using blockchain technology, and therefore cryptocurrencies, all these expenses would have been saved. 

The crypto-exchange also relied on the collaboration of The Block, to describe in more detail how the problem is not only about “wasted” money. It is indeed a discontent also about transaction waiting times and the difficulty of accessing, for example, traditional financial applications. 

Here’s how Coinbase describes the current traditional financial situation:

“System users, both consumers and small businesses, have to pay, then wait, then pay again while their money goes through intermediaries who add fees and time to the process”

Coinbase: at least 3 out of 5 Americans feel more satisfied with cryptocurrencies than with credit cards

A new survey, then, has revealed that at least three out of five Americans would like updates to the current system, making it cheaper, faster, and easier to access. 

For this reason, these people are in line with the use of crypto,  thanks to their ease of use, economic accessibility, and lean, completely digital and legacy-free nature. 

Also to consider, there is the generational issue. Consumers who have grown up with the Internet, for example, expect to be able to make transactions at Internet speed, globally and at any time. No access obstacles or delays due to working hours or cross-border times. 

Even here, therefore, Americans aged between 18 and 40 are much more likely to own cryptocurrencies, compared to older Americans.

In Coinbase’s Q3 2023 Report on crypto adoption, it emerged that over 50% of Americans between the ages of 18 and 40 do not use or only occasionally use the traditional financial system. 

Not only that, in the Q2 2023 Report on business adoption, it is shown that more than half of Fortune 100 companies are developing blockchain initiatives to remain competitive. 

The situation in Singapore

Unlike the USA, it seems that in Singapore the consideration for cryptocurrencies is of stronger interest. 

And indeed, recently, Coinbase together with Seedly, conducted a new survey in Singapore, which reveals that 57% of the interviewed citizens are crypto holders.

Out of 2006 adults interviewed, of all ages and income levels, it seems that 46% are optimistic about cryptocurrencies for 2024, while 56% believe that cryptocurrencies are the future of finance. 

The trust in cryptocurrencies by Singaporeans, then, has also been confirmed by their holdings. In practice, 56% of the 2006 respondents stated that they own from $1000 to $24,999 in cryptocurrencies. 

Animoca Brands: NFTs are an important component of digital capitalism

https://en.cryptonomist.ch/2024/02/08/animoca-brands-nfts-are-an-important-component-of-digital-capitalism/

The founder of Animoca Brands, Yat Siu, commented on Non-Fungible Tokens, stating that NFTs are an important component of digital capitalism. 

Animoca Brands: NFTs as pillars of digital capitalism, according to Yat Siu

In an interview with CoinDesk, the founder of Animoca Brands, Yat Siu, commented on what Non-Fungible Tokens mean to him, which are tokens that provide users with ownership of digital or tangible assets.

In practice, for Siu, NFTs are still underutilized, while they can become an important component of digital capitalism, transforming sectors such as rights management and education. 

Not by chance, by using NFTs, the blockchain would act as a sort of political system, favoring a consensus-based democratic process.

In this regard, Siu said:

“NFTs can revolutionize the distribution of educational content, offering significant financial opportunities, especially in less wealthy regions. […] Property rights and capitalism are the foundations of democracy.”

To give a practical example on this matter, the founder of the Web3 giant highlights his company TinyTap, acquired in 2022 and specialized in information technology. On this platform, teachers can monetize their content, overcoming traditional barriers such as publishers. 

The key to disrupting the multi-billion dollar industry of rights management and content distribution, which affects all sectors, remains the ability to have proper digital ownership on the blockchain. 

Animoca Brands and NFTs: genuine interest in the utility of technology

Looking at the numbers of the NFT market, it is clear that compared to the bull market of 2021, the sector is currently experiencing a certain decline.

Actually, for Siu, these current lower valuations of NFTs indicate a healthier and more genuine interest in the utility of the technology. Moreover, this situation could be crucial in addressing global financial inequality and promoting financial literacy.

In this regard, Siu argues that without speculators, the only people left are those who are truly interested in technology, strengthening its foundations. 

Not only that, the founder of Animoca Brands also spoke about the different legal frameworks around the world related to the sector. About the USA, for example, Siu explained that there is still a need for evolution to support the idea that NFTs are the antidote to inequality. In fact, according to Siu, in the United States there is a rejection of digital capitalism.

On the contrary, Siu speaks about Asia as follows:

“In Asia, NFTs and blockchain cryptocurrencies are popular because they are seen as an extension of digital capitalism. The biggest threat I see now is that we don’t understand capitalism and therefore when we see what happens in the world with money, we think it’s unfair.”

The 2023 report: volume is decreasing but not users

A few days ago, NFT18 published its annual report for 2023 regarding the performance and key metrics of the NFT market.

In general, the report highlights how 2023 has been a year of significant decline for the NFT market, but despite the bear market and massive losses, the community has remained active. 

To confirm this theory, there seems to be a 62% reduction in the overall volume of trades, which dropped to 10 billion dollars, offset by a decrease of only 10% in the number of active wallets, both compared to 2022. 

In practice, despite the decrease in interest, the number of active addresses for NFTs is still a solid 2 million. 

The report also specifies that the NFT Art, which refers to artworks in the Non-Fungible Token format, is losing the largest market share. 

Not only that, looking at the annual trend of 2023, the fourth quarter instead showed signs of recovery both in terms of the number of active wallets and the volumes traded. 

Thailand: cryptocurrencies become VAT-free with the immediate removal of the tax

https://en.cryptonomist.ch/2024/02/08/thailand-cryptocurrencies-become-vat-free-with-the-immediate-removal-of-the-tax/

The Ministry of Finance of Thailand has decided to eliminate the VAT tax on crypto trading, with immediate effect. 

Thailand and VAT-free crypto: 7% tax on trading profits eliminated

According to what is reported, it seems that in Thailand, the intention is to become a benchmark country for crypto-assets.

The Ministry of Finance, in fact, has decided to eliminate the VAT tax on earnings from cryptocurrency trading, making cryptos VAT-free.

This is an extension of the tax exemption that will be used to revitalize the country’s economy, following last year’s slow growth. 

In practice, the Ministry of Finance will eliminate the obligation to pay a 7% value added tax on earnings derived from cryptocurrency trading and digital tokens. 

Paopoom Rojanasakul, the Secretary of the Minister of Finance, stated that this move will serve to encourage digital assets as an alternative fundraising option. 

Thailand and VAT-free crypto: the elimination of the tax will be indefinite

The tax exemption on cryptocurrency trading had already been established previously and was set to expire at the end of 2023. 

Therefore, this news is about an extension that seems to be applied indefinitely. 

Specifically, all authorized crypto-exchanges, brokers, and dealers are the subjects of ‘crypto VAT-free’. All those who carry out cryptocurrency transactions through these operators will not have to pay the tax permanently. 

Not only that, starting from this January 2024, the securities regulatory authorities had already introduced more favorable rules on cryptocurrencies. 

On the contrary, what Thailand still deals with a more cautious approach are crypto payments. The fear, in this case, is that crypto payments could harm the country’s financial health. 

The donation of 10,000 BAHT in CBDC format

Just to stay on the crypto theme, last August, the political party Pheu Thai Party had proposed a donation of 10,000 BAHT for every citizen over the age of 16, in CBDC format.

The purpose of this move was to revive digital wallets as a strategy for the country’s economic recovery. 

In fact, this distribution of CBDC would have taken place through an app that contains the digital wallet. 

Here too, Rojanasakul had stated that if someone did not have access to the app, the alternative would be to use their national identity card to obtain a personal code. 

At that time, 10,000 BAHT had a value of 280 USD, and the idea was that they had to be spent within a radius of 4 km from the recipients’ homes, within 6 months of their receipt. 

GoDaddy chooses Ethereum Name Service (ENS) to connect domains and Web3 addresses

https://en.cryptonomist.ch/2024/02/07/godaddy-chooses-ethereum-name-service-ens-to-connect-domains-and-web3-addresses/

GoDaddy has entered into a partnership with Ethereum Name Service, allowing its millions of customers to use ENS domains and access the Web3 ecosystem for free.  

GoDaddy and Ethereum Name Service (ENS): customers will be able to access Web3

GoDaddy, the world’s largest domain registration company, has partnered with Ethereum Name Service (ENS) to bring its millions of customers into Web3. 

“We are excited to announce our partnership with @GoDaddy. Millions of customers can now use their DNS domains in the ENS ecosystem! Let’s find out what this means.”

In practice, GoDaddy has added a new section within the domain management interface. In this way, its customers will be able to easily and for free associate an Ethereum address to their domain names.

With this integration, the same customers will be able to access the entire Web3 ecosystem. Specifically, once configured, the domain name can be used instead of an Ethereum address in a range of web3 applications, including wallets, block explorers, NFT markets, etc.

GoDaddy and the partnership with Ethereum Name Service (ENS): the gateway to Web3 is now free

In its blog post, Ethereum Name Service announces that DNS names have always been able to be imported into ENS, but only by paying high transaction costs.

This new gateway to Web3 for GoDaddy customers, instead, turns out to be free. 

And indeed, precisely from January 29, 2024, with the approval of EP5.1 by the ENS DAO, Ethereum Name Service has launched Gasless DNSSEC. This is a new feature that allows using DNS domains in ENS without incurring any transaction costs. 

In this sense, the top domain registration company in the world, GoDaddy, is the first to integrate with this new feature.

In this regard, ENS announces its mission to integrate with the existing Internet infrastructure. 

The price pump of ENS

The news of the partnership with GoDaddy seems to have been appreciated by crypto-investors. In fact, ENS has recorded a price pump starting from Monday, February 5th. 

Specifically, ENS has gone from a price of $17.12 on Sunday, February 4th, to almost $24, and has now settled at $20 at the time of writing. 

Currently, the price pump of ENS in the last seven days is therefore 13%. ENS is ranked 91st in the overall crypto ranking, with a total market cap of over 643 million dollars.

This pump adds to another one that occurred at the end of January 2024, when Vitalik Buterin, co-founder of Ethereum, publicly praised the decentralized protocol of Ethereum Name Service.

And indeed, ENS has experienced another pump of about 50%. Buterin would have emphasized its importance in the Web3 landscape, stating that nowadays it is necessary for this service to be available on all layer-2. 

Bitget: the crypto-exchange reveals its monthly Proof of Reserve (PoR)

https://en.cryptonomist.ch/2024/02/07/bitget-the-crypto-exchange-reveals-its-monthly-proof-of-reserve-por/

Bitget, the crypto-exchange famous for copy-trading, has published its monthly Proof of Reserve (PoR), which shows a total reserve ratio of 159%. This above-average figure serves to ensure the users’ funds. 

Bitget: the crypto-exchange shows its monthly PoR with a total reserve ratio of 159%

Bitget has released its latest Proof of Reserve, or PoR, monthly, revealing that the crypto-exchange’s total reserve ratio is 159%.

This is a periodic information that Bitget intends to provide to show its transparency and commitment in guaranteeing more than 100% of its users’ funds. 

In general, the total reserves of the crypto-exchange exceed $1.7 billion, including important cryptocurrencies such as BTC, ETH, USDT, and USDC. 

The dedication of Bitget to transparency is in line with its focus on maximization

of user protection. 

In this regard, Gracy Chen, Managing Director of Bitget, stated:

“Bitget is committed to providing maximum security and transparency to its users, emphasizing financial stability and technical resilience to establish unwavering trust in the platform. We are very proud to maintain the strongest reserve ratio among the top exchanges, solidifying Bitget’s position as a reliable and credible cryptocurrency exchange. This constant dedication to financial stability further strengthens the trust of Bitget users in the platform’s reliability.”

Bitget: the crypto-exchange remains above the 100% total reserve threshold

The current monthly total reserve ratio of 159% is yet another data point that shows how Bitget manages to stay above the 100% threshold required to ensure user funds. 

That being said, there have been months in which the crypto-exchange, famous for copy-trading and other features, has more than doubled the threshold. 

And indeed, it was July 2023, when his monthly PoR report demonstrated that Bitget held a total reserve of 223%.

In that case, it was a record of the reserves of the crypto-exchange, with a balance of reserves that was over 1.44 billion dollars in 31 popular digital assets

To verify Bitget’s Proof-of-Reserve, the Merkle Tree proof is used, which ensures transparency and maximum accuracy of information. 

The Protection Fund

Always in pursuit of its mission to protect its crypto-investors, Bitget had also established a $200 million Protection Fund in August 2022. 

This fund aims to have funds to cover any force majeure incidents, such as hacker attacks or extreme market situations. 

Here too, Bitget provides information on this fund monthly. So in November 2022, while FTX was crashing, Bitget had decided to increase this fund to over 300 million dollars, including a diversified portfolio of cryptocurrencies such as BTC, USDT, and USDC. 

Still in July 2023, Bitget managed to increase the amount of this fund to over 368 million dollars.

The Protection Fund is insured against any decrease, for a period of three years without any withdrawal. 

Binance: the crypto-exchange delists Monero and XMR drops by -19%

https://en.cryptonomist.ch/2024/02/06/binance-the-crypto-exchange-delists-monero-and-xmr-drops-by-19/

The famous crypto-exchange Binance announced today the official delisting scheduled for 20/2 of four cryptocurrencies, including Monero (XMR). The news has shocked investors, to the point that XMR has recorded a price dump of -19% in the last few hours.

Binance announces the official delisting of Monero (XMR) from the crypto-exchange

Today, the famous crypto-exchange Binance announced that starting from February 20th there will be a delisting of four cryptos: Aragon (ANT), Multichain (MULTI), Vai (VAI), and Monero (XMR).

“Binance will delist the following tokens on February 20, 2024: $ANT, $MULTI, $VAI, and $XMR. Complete details here.”

Specifically, Binance has specified that the trading pairs that will be removed are: ANT/BTC, ANT/USDT, MULTI/USDT, USDT/VAI, XMR/BNB, XMR/BTC, XMR/ETH, XMR/USDT. 

The motivation behind this choice involving one of the oldest and most popular privacy cryptocurrencies, Monero, is that the cryptocurrency no longer meets the standards of the crypto exchange. 

Binance has also highlighted the factors it considers when deciding whether to delist a crypto-asset or not. 

Among others, the crypto-exchange has highlighted the team’s commitment to the project, the level and quality of development activity, the volume of trades and liquidity, the stability and security of the network against attacks, etc. 

Anyway, Monero and the other 3 cryptocurrencies will be removed not only from the trading platform, but also from Simple Earn, Auto-Invest, Loans, the Margin function, Gift Card, and more. 

Binance delists Monero and XMR drops by -19%

Just on this rather dark day for Monero, its crypto XMR has recorded a price dump of -19%.

At the time of writing, XMR is worth $132 compared to the $165 a few hours ago, just before the Binance news.

This is a stormy collapse for the 35th cryptocurrency by market capitalization, considering that in the last month, XMR seemed to be recording a bullish trend. In fact, in the last few days, it seemed that the price of Monero was returning above $170. 

Not only that, in the last 24 hours, in addition to the price dump, there has been a 127% increase in XMR trading volumes, which suggests there are sales.

The privacy crypto

This announcement is not really news. Last June 2023, in fact, Binance had already announced its intention to delist high-profile privacy-related cryptocurrencies. Even at that time, Monero had been mentioned in the list.

Not only that, at the beginning of January 2024, Binance had placed “tracking tags” on Monero and other cryptocurrencies, precisely to announce that there would be, sooner or later, a verdict on their continuous listing. 

This Binance tracking tag arrived at the same time as another crypto-exchange, OKX, had already announced the delisting of trading pairs that also include XMR.

Donald Trump: there are those who bet on crypto memes and NFTs before the presidential elections

https://en.cryptonomist.ch/2024/02/06/donald-trump-there-are-those-who-bet-on-crypto-memes-and-nfts-before-the-presidential-elections/

In these months leading up to the American presidential elections, there are those who are betting everything on crypto memes and Donald Trump-themed NFTs. The idea of the crypto fund Mechanism Capital is to profit from the excitement surrounding the presidential candidate. 

Donald Trump and the bet on crypto meme and NFT dedicated to him

Mechanism Capital has shared its strategy for accumulating crypto meme and Donald Trump-themed NFTs, in anticipation of the upcoming American elections. 

Andrew Kang, founder of the crypto and DeFi investment company, has published a tweet describing his basic theory, stating that he has accumulated the first new positions of 2024.

In practice, Kang predicts that the news cycle about presidential candidate Trump has just begun, and it will increasingly be the center of attention, causing a surge in tokens dedicated to him. 

Here’s how Kang describes his bet on crypto memes and Trump-themed NFTs on X:

“[..] This bet is not just about whether Trump wins or not. Surveys indicate that it is very likely that he will win, but that is not the point: the point is that he will always be in the headlines and people will constantly talk about Trump. His strategy is to be provocative, to say outrageous and funny things, things that keep people engaged. There are not only elections, but also legal cases and indictments that are about to go to trial, which act as catalysts/events to increase attention.”

Donald Trump and the prediction of a surge in crypto meme and NFT dedicated to him

The same Kang, continues in his tweet to describe his research on which crypto meme and Trump-themed NFTs to bet on. 

And indeed, there are several Donald Trump-themed tokens developed on Ethereum, Solana, and other blockchains. At the time of writing, some of these have recorded a 100% surge in the last 24 hours, thanks in part to Mechanism Capital’s position. 

In this regard, Kang states that only Trump tokens with the highest market capitalization will have a certain longevity and will serve as a gathering point for all speculations related to the candidate. 

Anyway, Mechanism’s bet seems to be on the specific meme coin TRUMP, offered by @MAGAmemecoin.

TRUMP has a market capitalization of over 90 million dollars and has recorded 3.3 million dollars in trading volumes in the last 24 hours, according to the data from DEXTools. The issuance of the TRUMP token, or any other meme token, has nothing to do directly with the former president of the United States.

The story of TRUMP’s airdrop to the address of the former US President

The crypto meme TRUMP was launched in August 2023 by the crypto project Maga and depicts a caricature of the former President of the USA with the famous laser eyes typical of the Bitcoin community. 

The same crypto project wanted to then send several tokens to former US President Donald Trump, as a marketing strategy, in order to be more appealing to the public.

In practice, the transfer was executed via airdrop to Trump’s wallet, whose address was publicly known, after Trump deposited some information about his financial statement with the competent authorities on August 14th. 

The fact is that the 579,281 TRUMP sent to Trump’s address between August and October 2023, went from having a value of just $5.7 thousand to exceeding one million dollars by the end of January 2024. 

Donald Trump has never sold or moved any of these coins, but given their current value, who knows, he might change his mind. 

MultiversX (formerly Elrond): crypto data available on Google BigQuery

https://en.cryptonomist.ch/2024/02/06/multiversx-formerly-elrond-crypto-data-available-on-google-bigquery/

MultiversX, formerly known as Elrond, the crypto of sharding on distributed public networks is now available on Google BigQuery. All users who have an account on the Google search engine can now obtain information about the blockchain. 

MultiversX (formerly Elrond): the sharding crypto incorporates its data on Google BigQuery

Important crypto news for MultiversX, previously known as Elrond, which sees its blockchain data embedded in Google BigQuery. 

This is a significant milestone that opens access to blockchain data in a simple way. In fact, the search engine giant, Google, incorporates MultiversX blockchain data streams on the Internet and makes them readily available. 

In practice, anyone with a Google account can now obtain information about the MultiversX network. 

On the page of the MultiversX dataset, there are some sample queries for quick use, in order to understand how it works.

So it is possible to obtain information about details on the latest blocks, the count of daily transactions, the largest EGLD transfers in a specific period of time, or the most used smart contracts.

MultiversX (formerly Elrond): the crypto embedded in Google BigQuery

Thanks to the new integration, developers and projects using MultiversX to perform and record actions on the chain now have access to a new important tool for their toolkit. 

And in fact, with the help of Google BigQuery, they can perform a thorough analysis of the product to understand their users’ behavior and evaluate what the product development priorities are.

In this regard, Lucian Mincu, CIO of the MultiversX Foundation, said: 

“The analysis and interpretation of data to reveal insights and useful information about product usage is a relatively unexplored science compared to its potential usefulness for the web3 space. Having Google solve a large part of the problem for MultiversX projects is an important step in making dApps better, more useful, and more appealing to the masses.”

The service is provided through MultiversX ETL, a tool developed by the central team of the Layer 1 smart contract platform, which extracts, transforms, and feeds Google BigQuery with blockchain data at hourly intervals.

MultiversX also involves Google Cloud, collaborating on various Web3 acceleration initiatives dedicated to startups, developers, and hackathons. The former Elrond project is also a partner at the Google Cloud booth at GITEX Global, Dubai 2023.

EGLD Price

At the time of writing, EGLD is worth $53.41, a middle ground between the Christmas 2023 highs above $72, and the October 2023 lows, when the price of EGLD reached $22. 

The price trend of MultiversX (EGLD) has been very jagged in the last month, ranging from peaks of $59 to $46. 

EGLD is ranked 51st in terms of market capitalization, with a current total market cap of 1.4 billion dollars. In the last 24 hours, trading volumes have increased by 12%. 

Last November 2023, EGLD was in 48th place in terms of popularity, despite the price at that time was $40.31. In that month, the crypto project had announced that it was dedicating itself to the construction of its own hub in Seoul, South Korea.