‘No Plan to Issue CBDC’ — Bank of Japan Governor

Haruhiko Kuroda, the governor of the Bank of Japan (BOJ), has said the bank is currently not planning to launch a digital currency. The remarks come just a few days after the BOJ announced the commencement of the second phase of central bank digital currency experiments.

Role of CBDC in People’s Lives

The governor of the BOJ, Haruhiko Kuroda, recently disclosed the central bank’s stance on issuing a digital currency has not changed — it will not issue a central bank digital currency (CBDC). The governor, however, insisted the BOJ will still continue “to carefully consider the expected roles of central bank money” in people’s lives today and in the future.

In remarks made while delivering a speech at a Fintech Summit in Japan, Kuroda explained why the central bank is not rushing to launch a CBDC. He said:

We consider it important to prepare thoroughly to respond to changes in circumstances in an appropriate manner, from the viewpoint of ensuring the stability and efficiency of the overall payment and settlement systems.

Also, to help the BOJ with this process, Kuroda revealed that the central bank is “drawing on the wisdom of various stakeholders both at home and abroad.”

Feasibility of Launching a CBDC

Kuroda’s latest remarks concerning the BOJ’s intention to launch a CBDC, however, come just a few days after the central bank said it is moving on to the next stage in testing the feasibility of a CBDC. In a recent statement, the BOJ announced the commencement of the new stage wherein it will “implement various additional functions of CBDC in the test environment developed in Phase 1.”

The statement added that during this phase 2, the BOJ will also investigate the feasibility of issuing digital currency as well as the challenges that may be encountered.

What are your thoughts on this story? Tell us what you think in the comments section below.

via Terence Zimwara

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Bitcoin, Ethereum Technical Analysis: ETH Remains Above $3,400 Despite Bullish Momentum Slowing

Ethereum was trading above the $3,400 level for a third consecutive session, however bullish momentum has somewhat eased, as market uncertainty has gradually risen. With prices trading near resistance levels, bulls have pulled back, giving way to bears looking at re-entering the market.

Bitcoin

Bulls in BTC have also pulled back, as prices continue to hover close to recent resistance levels, with some fearing price reversals.

Following a high above $48,100 earlier in the week, BTC/USD traded at an intraday low of $46,620.72 during today’s session.

Bitcoin has climbed by as much as 10% in the last week, however this momentum has eased, leading to consolidation.

Some believe we could see this reversal in price strength take us back towards the $45,000 level, but this could be a short-term retreat as bulls continue to target $50,000.

Looking at the chart, the 14-day RSI has also begun to tail off, and is now close to its floor of 61, however should it not break below this level, bulls may continue to hold onto some hopes of a return to upside action.

The current move looks similar to what took place in early January, when prices were last trading at the current resistance below $48,000.

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Ethereum

ETH traded above $3,400 for the third day running, as there appeared to be more bulls still holding on to positions than in BTC.

As of writing, ETH/USD is trading 0.04% lower, as prices hit an intraday low of $3,359.95, which is marginally higher than yesterday’s low.

Typically, when there is a streak of higher lows during a falling market, it signals consolidation, prior to an extension of a bullish streak.

This is likely what remaining ETH bulls are hoping for, despite price strength still hovering in overbought territory.

As of writing, the 14-day RSI is sitting at 70.9, which is still close to multi-month highs, however moving averages are yet showing signs of further bullish pressure, both in the short and long term.

Will we see consolidation in crypto end before we start the weekend? Leave your thoughts in the comments below.

via Eliman Dambell

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Anonymous Affiliate Hacks State-Run Russian Broadcaster

NB65, a hacking group affiliated with the Anonymous collective, has allegedly breached the servers of the Russian government-controlled television and radio broadcasting company. According to social media reports, the hackers are preparing to release hundreds of gigabytes of appropriated data.

Russia’s Radio and TV Broadcaster Targeted by Anonymous

The All-Russia State Television and Radio Broadcasting Company (VGTRK) has been reportedly hacked by NB65, a group linked to Anonymous, the international hacktivist collective which declared cyberwar on Russia in response to its invasion of Ukraine.

Anonymous TV (@YourAnonTV), a Twitter account associated with the decentralized movement, broke the news on the microblogging network this week. According to its post, the hackers are going to publish almost 900 GB of leaked data on the internet.

JUST IN: Hacking group ‘NB65’ (@xxNB65), affiliated with #Anonymous has hacked and breached the VGTRK (All-Russia State Television and Radio Broadcasting Company). Total data being prepared for release is 870GB. #DDoSecrets will release it in the near future. #OpRussia #FCKPTN pic.twitter.com/W2sTvoVQG9

— Anonymous TV 🇺🇦 (@YourAnonTV) March 27, 2022

VGTRK, also referred to as Russian Television and Radio, is Russia’s largest media corporation which manages dozens of national and regional TV and radio stations as well as online outlets in Russian and other languages.

Under the company’s umbrella are the national television channels “Rossiya 1” and “Rossiya K,” the country’s first 24/7 news channel “Rossiya 24,” the sports and entertainment “Rossiya 2,” and the international service “RTR Planeta.”

Anonymous reports that they managed to hack server of the VGTRK (#Russian TV and Radio Company), whose main asset is the Russia-1 channel

Top propagandists Solovyov, Skabeyeva, and Popov host their programs on this channel.

870 GB of data will be made public in the near future. https://t.co/HFoTlp9uzi

— NEXTA (@nexta_tv) March 28, 2022

After the Russian military forces crossed the Ukrainian border in late February, Anonymous vowed to disrupt Russia’s internet space. The websites of the Kremlin, the State Duma, and the Defense Ministry were then targeted.

The group also threatened to hack Russian state-run TV channels in order “to broadcast the truth about what happens in Ukraine.” The government-funded international network Russia Today (RT) admitted it had suffered a massive DDoS attack.

Last week, Anonymous said it had hacked the Central Bank of Russia. Although the monetary authority denied the claim, the collective later released 28GB of data, allegedly belonging to the regulator, which contains many documents, including hundreds of audit reports, “secret agreements,” and information revealing bank ownership.

The hackers have also been hitting the websites of foreign companies that are still operating in the Russian Federation despite mounting Western sanctions over the war in Ukraine. The group has issued calls for these businesses to leave the country.

Do you expect Anonymous hackers to continue to target Russian organizations? Tell us in the comments section below.

via Lubomir Tassev

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APENFT Marketplace Launches Testnet With an Exciting Developer Sprint

PRESS RELEASE. Singapore, Singapore / Mar 31, 2022 / – APENFT Marketplace Testnet goes live on March 31, marking a historic moment in the evolution of the TRON NFT ecosystem.

APENFT holds unique insights into the development of the NFT markets with a long-term commitment to collecting and managing artworks and crypto collectibles. Building a pragmatic and inclusive NFT platform that engages with the larger community has always been an integral part of APENFT’s roadmap. The launch of the APENFT Marketplace Testnet is one step closer to fulfilling this mission.

To build a more inclusive and dynamic TRON NFT ecosystem and attract high-quality projects, APENFT Marketplace is establishing a $2 million prize pool for an exciting “sprint race” for all developers. This APENFT Marketplace Testnet Developer Sprint is among the many perks announced for the Testnet launch.

The Developer Sprint will adopt a multi-stage task-completion model. During the Testnet phase, APENFT Marketplace will assess all participating projects from five different angles: project quality, community & social media building, smart contract deployment, website construction, and trial feedback. Every participating project will have a chance to win up to $20,000 Testnet rewards from the total prize pool.

After the Testnet phase, all qualified projects will be able to migrate to the Mainnet and receive development subsidies from the platform, and there will be more support programs planned out following the Mainnet launch.

In addition to providing support to excellent developers, APENFT will also reward active and premium users from the TRON ecosystem. All qualified users will receive a Genesis NFT badge, which grants them whitelist status for any future NFT drops.

APENFT will select 50 Genesis NFT badge holders who have participated in the Testnet and provided valuable feedback to the platform to receive a reward of $100 worth of NFT tokens each. APENFT will also select 100 non-badge holders providing valuable feedback to receive a total reward of $10,000 worth of NFT tokens. In general, all Testnet participants are encouraged to submit their comments or suggestions. APENFT welcomes all NFT developers and supporters to participate in the trial run. All community voices are highly valued and the platform will reward another 150 lucky users via random draws from all Testnet participants.

After the Testnet phase, APENFT and TRON DAO will be co-hosting an official virtual launch event for the APENFT Marketplace on YouTube and DLive Protocol, where H.E. Justin Sun will introduce all major features of and bonuses offered by the APENFT Marketplace. This launch event has also received strong support from Cryptovoxels, a renowned decentralized virtual world. The event, which is the first metaverse-themed livestream in the TRON ecosystem, will be going out live at TRON DAO’s headquarters on the Cryptovoxels site. This also marks H.E. Justin Sun’s debut livestream in the metaverse. All are invited!

About APENFT

Officially registered in Singapore on March 29, 2021, APENFT is backed by the underlying technology of the TRON blockchain, with additional support from the world’s largest distributed storage system BitTorrent File System (BTFS). At the core of our mission, APENFT aims to facilitate the creator economy while catalyzing both financial and cultural inclusion in the metaverse. Our vision is to integrate both the virtual and the real worlds seamlessly. APENFT Foundation is the world’s first NFT art foundation that realizes crossover purchases. We aim to bridge conversations between stakeholders in the traditional art world and the digital art community emerging around NFTs, promote inclusiveness and diversity, broaden our multimedia audience, and increase all members’ engagement. In the future, our collection will be made available for the entire community through a series of curated online exhibitions in the metaverse.

APENFT Contact:

Miles Wang

contact@apenft.io

 

 

 

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Bitcoin.com Media

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FCA Extends Deadline for Crypto Firms to Meet Regulatory Requirements in UK — 33 Firms Licensed so Far

The U.K. financial regulator, the Financial Conduct Authority (FCA), has extended its April 1 registration deadline for a number of crypto firms to meet its regulatory requirements. The British regulator has registered 33 crypto firms so far and 12 firms are holding temporary registration.

FCA Extends Deadline for Crypto Firms

The U.K.’s Financial Conduct Authority (FCA) updated information on the Temporary Registration Regime (TRR) on its website Wednesday, ahead of the April 1 registration deadline for crypto firms.

The Temporary Registration Regime was established in December 2020 to allow existing crypto businesses that applied for registration before Dec. 16, 2020, to keep operating while the FCA continues to assess their applications.

The FCA detailed:

We have concluded our assessments, and the TRR will close on 1 April, for all but for a small number of firms where it is strictly necessary to continue to have temporary registration.

“This is necessary where a firm may be pursuing an appeal or may have particular winding-down circumstances,” the regulator added.

Over a hundred companies applied for temporary permission to operate in the U.K. while waiting for the FCA to assess their applications. More than 60 firms were rejected or have withdrawn their application.

Only 12 firms remain with temporary registration, according to the latest list on the FCA website. They are BCB Group, Blockchain.com, Cex.io, Copper Technologies (UK), Globalblock, GCEX, ITI Digital, BC Bitcoin, Revolut, Moneybrain, Tokencard (Monolith), and Coindirect.

FCA Has Registered 33 Crypto Firms

A total of 33 firms have been approved. An FCA spokesperson told Yahoo Finance U.K. Wednesday: “We have been reviewing crypto asset firms’ applications to ensure they meet the minimum standards we expect — that those who run these firms are fit and proper and that they have adequate systems to identify and prevent flows of money from crime.”

The spokesperson added:

While we have registered 33 firms, we have seen too many financial crime red flags missed by the cryptoasset businesses seeking registration.

“Worse, we have seen examples where firms do not have the controls necessary to raise red flags in the first place,” the spokesperson concluded.

What do you think about the FCA extending its registration deadline for crypto firms to meet regulatory requirements? Let us know in the comments section below.

via Kevin Helms

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UAE-Based Crypto Exchange Bitoasis Obtains Provisional Approval From Dubai’s New Regulator

A major cryptocurrency exchange in the UAE, Bitoasis, has obtained provisional approval from Dubai’s new cryptocurrency regulator. Binance and FTX have also been green-lighted by the regulator.

Bitoasis Pursuing License From Dubai’s New Crypto Regulator

Bitoasis, a major crypto exchange founded and headquartered in Dubai, announced Wednesday that it has received “provisional approval” from Dubai’s new crypto regulator, the Virtual Assets Regulatory Authority (VARA).

Dubai adopted its first law to regulate the crypto sector earlier this month and established the VARA to oversee the sector.

The provisional license allows Bitoasis to continue its business operations in Dubai while undergoing an in-depth process to obtain a full license.

Bitoasis is the first virtual asset service provider (VASP) to operate from Dubai. The platform serves customers in the Gulf and Middle East. The company explained that it is registered with the central bank and is reporting anti-money laundering (AML) issues to the bank’s financial intelligence unit.

Helal Saeed Almarri, director general of the Dubai World Trade Centre Authority that houses the VARA, commented:

As an authority that is committed to nurturing UAE’s home-grown enterprises, and building strong foundations for the global future economy, the VARA is pleased to facilitate the onboarding of Bitoasis into our ecosystem.

Since its inception, the VARA has green-lighted Binance and FTX Europe “to operate within Dubai’s ‘test-adapt-scale’ virtual asset market model as a base for expansion into the region.”

In addition, this week, global exchanges Bybit and Crypto.com said they plan to establish operations in Dubai. Bybit said it has “received in-principle approval to conduct a full spectrum of virtual assets business in Dubai” while Crypto.com is planning a substantial recruitment drive in the coming months.

What do you think about Bitoasis obtaining a provisional license from Dubai’s new cryptocurrency regulator? Let us know in the comments section below.

via Kevin Helms

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Biggest Movers: AXS Falls Lower Following Hacks, While ZIL Climbs by Over 50%

AXS was trading lower on Wednesday, after it was reported that the Axie Infinity network Ronin suffered a breach, leading to hackers stealing over $620 million from the blockchain-based trading and battling game. This came as ZIL was trading by over 50% higher during the session.

Zilliqa (ZIL)

Zilliqa (ZIL) was up by over 50% in today’s session, as traders continued to react to the news that Zilliqa was partnering with Agora.

Following the news, ZIL rallied by over 200% in the past week, with today’s gains seeing prices hit an intraday high of $0.1604.

Today’s peak comes as ZIL/USD broke past its resistance level of $0.1080, pushing prices to a new record high in the process.

Looking at the chart, these recent highs have come as prices moved away from the support level of $0.0418 on March 21.

Since then we have seen a streak of higher highs from ZIL, with price strength currently tracking off the charts.

As of writing, the 14-day RSI is currently at a reading of 89.17, which is substantially above its previous high of 65.

This could be inviting to bears looking for a reversal in prices.

Solana (SOL)

AAVE, HNT, and VET were all big movers today, with most of these climbing by over 10%, however the most notable secondary mover today was SOL.

SOL/USD climbed to an intraday high of $124.29 during today’s trading session, as it replaced LUNA as the world’s eighth-largest cryptocurrency.

This move from SOL came as the price broke out of the long-term resistance level at $113.70, hitting a six-week high in the process.

The surge in price on Wednesday, which took prices to their highest since February 7, came as the 14-day RSI moved past its long-term ceiling.

Looking at the chart, the resistance of 65.9 on the indicator was broken for the first time since November and now tracks at 74.4.

With price strength now clearly overbought, we may be set for some consolidation, that potentially leads to a reversal in price, as bulls exit, and bears look to enter.

Will SOL remain above LUNA for the remainder of this week? Let us know your thoughts in the comments.

via Eliman Dambell

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As Bitcoin’s Hashrate Remains Elevated, BTC’s Mining Difficulty Expected to Reach a Lifetime High

During the last month, Bitcoin’s hashrate has been coasting along above the 200 exahash per second (EH/s) zone, minus a number of drops here and there above and below that range. Following two difficulty changes that saw the difficulty decrease by 1.84%, the network’s difficulty is expected to increase 4.24% within the next 13 hours.

Bitcoin’s Difficulty Expected to Reach All-Time High

Bitcoin miners caught two breaks during the last month when the difficulty dropped two times in a row. The first 1.49% drop occurred at block height 725,760 on March 3, 2022, and the second decrease was a 0.35% drop, which occurred at block height 727,776 on March 17, 2022.

The two consecutive drops made it 1.84% easier for all the mining participants to find BTC blocks. While the difficulty was 27.97 trillion prior to the two reductions, the current difficulty is 27.45 trillion on Wednesday morning at 8:00 a.m. (ET). Within the next 13 hours, the difficulty is expected to increase this time around, jumping 4.24% higher if current estimations are correct.

With an expected 4.24% difficulty increase taking place, Bitcoin’s network difficulty will break records by reaching an all-time high (ATH). If the difficulty increases 4.24%, then the difficulty will be 28.62 trillion for the next two weeks that follow. Miners will deal with the hardest difficulty parameter they have ever dealt with in their mining careers.

Moreover, the difficulty changes that have taken place since January 1, 2020, after block height 610,848, moved at the fastest pace in the network’s lifetime. For instance, it took 4,015 days to get to a difficulty rating of 13.80 trillion, or over ten years. From that point after block height 610,848, with a difficulty rating of 13.80 trillion, it took only 820 days or just over two years to reach the current 27.45 trillion.

At the time of writing, the network’s hashrate is coasting along at 204.27 EH/s and has remained high during the last two weeks. While the hashrate has been fluctuating it has tapped a low of 153.97 EH/s on March 6, and a high of 246.88 EH/s on March 22. At the same time, the top mining pool on Wednesday is Foundry USA with 17.54% of the global hashrate. Foundry USA has 35.88 EH/s of hashpower and has found 77 blocks during the last three days.

In terms of global hashrate positions, Foundry USA is followed by Antpool, Binance Pool, Poolin, and F2pool, respectively. Over the last 30 days, Foundry USA and Antpool have been the top two mining pools finding the most blocks (1,480 blocks combined) last month. It will be interesting to see how the mining pools deal with the upcoming difficulty ATH. Observers will be watching to see how bitcoin miners and the hashrate react to the epoch difficulty change.

What do you think about the network’s upcoming difficulty change? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Solidus AITECH Founder Paul Farhi Talks Artificial Intelligence and High-Performance Computing

Using the world’s first AI utility token AITECH, Government Authorities, Megacorps, SMEs, and Professionals will be able to acquire AI services through Solidus’ Artificial Intelligence infrastructure. AITECH can be purchased, staked, or held as a long-term investment.

Paul Farhi is the Founder and Head of UK Operations of Solidus AITECH. He recently joined the Bitcoin.com News Podcast to talk about the crypto business, play-to-earn games, metaverse, NFTs and much more:

Paul is a born achiever and has very high standards in everything he does. He is a passionate entrepreneur and established himself as a successful investor very early on in his career. His main focus was on Property & Fine Art until he was introduced to Bitcoin in 2015 and since then has never looked back. During his career Paul has built a solid network and was instrumental in securing the partnership between Solidus Technologies and Soft Galaxy international.

Paul is a forward thinker and identified very early on that Ethereum will be moving from proof-of-work to proof-of-stake which means that mining would no longer be the future for Solidus Technologies and began his research into Artificial Intelligence. Since then he has studied Artificial intelligence at the London Business School and has identified key areas that will be significant for Solidus AITECH in the near future. Paul also owns a Fine Art Company who are taking a serious look at the NFT space. Paul also oversees the overall Marketing efforts of Solidus AITECH.

Solidus Technologies began as a cryptocurrency mining company in December 2017, with a focus on mining Ethereum (ETH) with GPU-based mining rigs. Following the financial crash of 2020 and a large increase in demand for AI services, the corporation turned its core focus to Artificial Intelligence and formed Solidus Ai Tech to serve as the company’s AI arm.

To learn more about the project visit www.ai-tech.io and follow the team on Twitter.

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The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play.

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Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Below Key Resistance Levels

Following strong gains during Wednesday’s session, bitcoin and ethereum both saw prices consolidate below key resistance levels. BTC remained marginally above $47,300, with ETH trading close to $3,400. The global crypto market cap was 0.48% lower as of writing.

Bitcoin

Bitcoin saw its price consolidate during Wednesday’s session, following strong gains on Tuesday, which saw BTC rise to multi-month highs.

However on Wednesday, BTC/USD fell to an intraday low of $46,746.21, as prices failed to sustain a breakout of the $48,080 ceiling.

Today’s drop came as prices rose to a peak of $47,938.21. However, bullish momentum somewhat eased as bulls likely secured some earlier gains.

Now the question will be whether or not these drops in price will persist, with bears looking to enter the market in order to lead a reversal in price strength.

Looking at the chart, the 14-day RSI has also begun to tail off, and now tracks at 69, which is still overbought.

Should bears look to move prices lower, this could be a factor, with the 61 RSI floor being a point they could be targeting, thus pushing BTC towards $44,000.

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Ethereum

Despite also falling in today’s session, ethereum continued to hover marginally above the $3,400 level.

As of writing, ETH/USD was trading 1.70% lower, as prices hit an intraday low of $3,349.24, following on from an earlier high of $3,466.67.

Wednesday’s decline in price comes less than 24 hours after the world’s second largest cryptocurrency rose to a nearly four-month peak of $3,483.

Looking at the chart, one of the reasons for the decline is the fact that price strength is deeply overbought.

This comes as the 14-day RSI is still tracking above 70, which is close to its highest point since September last year.

Bulls likely saw this as an opportune time to liquidate their positions, while bears viewed it as an ideal point to push prices lower.

Can ETH bears continue to push prices lower, despite the current momentum being bullish? Leave your thoughts in the comments below.

via Eliman Dambell

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Dubai Café Accepts Cryptocurrency as Payment, Owner Hints at Paying Employee Salaries in Crypto

Bake N More, a Dubai-based cafe, has become the latest company from the region to add cryptocurrency as a payment option. According to the company’s owner, Mohammad Al Hammadi, Bake N More hinted at possible plans to pay employee salaries in cryptocurrency as well.

A Hub for Crypto Users in UAE

A Dubai-based cafe, Bake N More, has become the latest company to add cryptocurrency as another payment option available to customers. Despite taking this step, Bake N More will nonetheless continue to accept cash and credit card payments, the owner said.

According to his remarks published in a report by Khaleej Times, owner Mohammad Al Hammadi suggested the decision to add crypto to the list of payment methods was made in order to expand Bake N More’s reach. Al Hammadi also claimed the decision was because they “want Bake n More to be a coffee and pastry hub for crypto users in UAE.”

Elsewhere in the report, Al Hammadi is quoted explaining how Bake N More would charge clients that buy a cup of coffee using cryptocurrency. He explained:

Our payment system does the conversion accordingly as it is linked to the price charts. For instance, if a bottle of water cost Dh5 [$1.36], the system divides it by the chart rate, we can assume 3.68, and calculates the cost based on that will be 1.35 UST.

Converting to Fiat

Meanwhile, Al Hammadi revealed that his company is currently storing digital currency and will only engage the relevant exchange platforms when it needs to convert to fiat. He also hinted that his company may in the future pay employee salaries in crypto.

As different authorities in the UAE continue to open up to cryptocurrencies, more companies are embracing them as well. For instance, Bitcoin.com News recently reported that the hospitality brand Stella Stays now accepts cryptocurrency.

What are your thoughts on this story? Tell us what you think in the comments section below.

via Terence Zimwara

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DeFi Kingdoms Integrates Ramp to Take in-Game Payments to the Next Level

PRESS RELEASE. London, UK: 30 March 2022 – Play-to-earn game, DeFi Kingdoms, has partnered with crypto payments infrastructure platform, Ramp to bring an even greater in-game payment experience to players. For one week only* players can enjoy zero fees when purchasing AVAX through Ramp.

DeFi Kingdoms has been wildly popular, generating more than $1.6 billion in transactions in January 2022 alone. Today’s Ramp announcement comes as DeFi Kingdoms implements its cross-chain expansion to Avalanche.

Originally built on the Harmony blockchain platform, DeFi Kingdoms plays out in a nostalgic form of fantasy pixel art. The DeFi Kingdoms ecosystem includes a game, an exchange, a native token, hero Non-Fungible Tokens (NFTs), and a liquidity pool.

Through the Ramp partnership, DeFi Kingdoms players can enjoy multiple fiat-to-crypto payment options and top up their wallets or dApps instantly within the game. In particular, it will give players a fast and secure way to make in-game purchases on Harmony ONE, the platform on which the game’s governance token – JEWEL – can be traded.

“DeFi Kingdoms is all about experience. As part of that, we wanted a frictionless onboarding journey for new users and a reliable, fast payment solution for existing players. We researched on-ramps and Ramp stood out for its customer focus, ease of implementation, global reach and track-record with compliance,” said DeFi Kingdoms President, Dreamer.

Ramp has partnered with the world’s most popular NFT-based games, including Axie Infinity and fantasy football game, Sorare. In the case of Axie Infinity, Ramp’s integration saw onboarding times fall by 90%, while reducing costs to the end user dramatically. Meanwhile, Ramp’s integration on Sorare made the process of buying cards 40% faster and more streamlined than before.

“Combining NFTs with the creation of virtual worlds is hugely appealing to gamers. DeFi Kingdoms does this beautifully. Yet barriers to the mainstream adoption of play-to-earn games remain high when the user experience is slow and complex. Players want to top up instantly inside their wallets or dApps, and that’s exactly what Ramp facilitates,” said Jacques Whales, Chief Meta Officer at Ramp.

DeFi Kingdoms players will be able to enjoy fast fiat-to-crypto payments via Ramp, effective immediately.

 

* The zero fee promotion will run for seven days from 10 am MST on 30 March 2022, or until the allocated liquidity pool is finished, whichever comes first.

 

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This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Bitcoin.com Media

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Russian Ministry of Energy Calls for Urgent Legalization of Crypto Mining

The legal vacuum in the crypto mining sector must be filled “as soon as possible,” according to a statement by Russian Deputy Minister of Energy Evgeniy Grabchak. The government official also called for introducing regional quotas for crypto farms instead of regulating their business at the federal level.

Russian Official Proposes Regional Energy Quotas for Crypto Miners

Cryptocurrency mining needs to be regulated soon, Evgeniy Grabchak insisted during Russia’s first national conference of legal bitcoin miners, held recently in Irkutsk. The Siberian oblast, where electricity rates start at just $0.01 per kWh, has been dubbed “the mining capital of Russia” as coin minting in the region spiked after China cracked down on the industry last May. Quoted by Tass, Grabchak elaborated:

The legal vacuum makes it difficult to regulate this field and establish transparent rules of the game. It needs to be eliminated as soon as possible… We have no other options in the current reality. The legal regulation, fitting the concept of mining into the regulatory framework must be implemented.

Russia’s deputy minister of energy further suggested that it would be more expedient to determine sites for mining facilities and the available energy capacities at the regional instead of federal level. These quotas must be in compliance with the development plans of the Russian regions, other industries, and the energy system, he added.

Authorities in Irkutsk and elsewhere have previously stated their readiness to provide sites for the industrial extraction of cryptocurrencies, if the business is recognized as an entrepreneurial activity as a growing number of officials have been suggesting. Calls in that direction have been issued by the chairman of the parliamentary Financial Market Committee, Anatoly Aksakov, Deputy Prime Minister Alexander Novak, and the Governor of Irkutsk Oblast, Igor Kobzev.

Amid mounting western sanctions over the invasion of Ukraine, Russia has seen an opportunity to use cryptocurrencies to regain access to global finances, while Moscow is considering accepting bitcoin for its energy exports. Despite the strong opposition of the Bank of Russia to legalizing a range of crypto activities, including mining, government efforts to regulate the country’s crypto space have resumed.

Most institutions have sided with the Finance Ministry’s approach which favors regulation under strict oversight, over a blanket ban. In February, the department submitted a new bill “On Digital Currency.” In January, President Vladimir Putin urged the government and the central bank to resolve their differences and highlighted Russia’s competitive advantages as a mining destination.

Do you expect Russia to regulate its crypto mining sector soon? Tell us in the comments section below.

via Lubomir Tassev

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Argentinian Tax Agency Amps Up Scrutiny for Crypto Traders and Holders With New Requirements

The Argentinian Tax Agency (AFIP) is watching the movements of cryptocurrency traders and holders, to tighten its control over their transactions. The institution is now sending emails to Argentinian citizens asking for a series of data regarding supposed cryptocurrency operations made in their names. The agency requires the public keys of the citizen and a list of transactions made during a certain time period.

Argentinian Tax Agency to Scrutinize Crypto Users

The AFIP, the Argentinian tax watchdog, has decided to take the battle against cryptocurrency tax evasion directly to users of these currencies. While the agency had required information from exchanges before, the responsibility is now directed to certain users that have received a requirement to answer a series of questions regarding their history with digital assets.

The requirement compels users to deliver data like the public keys of the wallets they are currently managing, and a list of digital asset movements that must include dates, the cryptocurrencies involved, the amounts moved, and the kind of operation. Furthermore, the citizens must justify the origin of the funds used to perform these transactions and the complete crypto savings held.

The required info is to include transactions that go back to 2018, so the numbers could be very high, according to Germán Nlhoul from Criptocontador.

Expert Opinion Differs

The opinion of experts in the country is divided regarding this new move of the AFIP. Some think that the institution has the right to require this information from crypto users. This is the case with Juan Manuel Scarso, a fintech tax expert who explained:

[The AFIP] has broad powers to verify, at any time, including with respect to current fiscal periods, the compliance that the obligors or those responsible give to the laws, regulations, resolutions and administrative instructions, supervising the situation of any alleged responsible.

However, others differ in their views and state that the Argentinian Tax Agency might be overreaching by requiring some of this data from the citizens, without stating the purpose of these requirements clearly. This is the case with Mariano Neira, who stated:

Among the requirements on crypto assets that are circulating, an excessive request for information and also a clear affectation of patrimonial intimacy can be observed.

This information is already required by the organization from the exchanges, which must comply with this requirement by law. However, some have speculated that this pivot is due to the exchanges being non-compliant with the regulation, forcing the agency to look for the info from other sources.

What do you think about the Argentinian Tax Agency probing cryptocurrency holders and traders? Tell us in the comments section below.

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Axie Infinity Loses $620 Million After Hacker Compromised Ronin Validators

According to Sky Mavis, the creators of the blockchain NFT game Axie Infinity, the Ronin network has been attacked, and a hacker has managed to siphon 173,600 in ethereum and 25.5 million usd coin (USDC). The attacker has obtained roughly $620 million worth of crypto assets, and the Ronin bridge and Katana Dex have been paused.

The Largest NFT Blockchain Game Axie Infinity Suffers From a $620 Million Hack

The largest non-fungible token (NFT) blockchain game, Axie Infinity, has suffered from an attack on Tuesday after the Ronin network validators were compromised. Sky Mavis, the company behind the Axie Infinity project, explained that the validators were compromised as early as March 23.

The funds were drained in two transactions (transaction 1 and transaction 2) and Sky Mavis discovered the attack after a user complained that they could not withdraw 5,000 ether from the Ronin bridge.

“The attacker used hacked private keys in order to forge fake withdrawals,” Sky Mavis’s post mortem statement discloses. While the Ronin bridge and Katana Dex has been halted, Sky Mavis also said: “We are working with law enforcement officials, forensic cryptographers, and our investors to make sure all funds are recovered or reimbursed. All of the AXS, RON, and SLP on Ronin are safe right now.”

The team further explained that the project uses nine validator nodes to run Ronin, and in order to deposit or withdraw, five out of nine are needed to process a transaction.

“The attacker managed to get control over Sky Mavis’s four Ronin Validators and a third-party validator run by Axie DAO,” Sky Mavis said. “The validator key scheme is set up to be decentralized so that it limits an attack vector, similar to this one, but the attacker found a backdoor through our gas-free RPC node, which they abused to get the signature for the Axie DAO validator.”

What’s worse is that Sky Mavis notes that the attacker got away with it because of a change made back in November 2021, and they discontinued the “Axie DAO allowlisted” scheme the very next month.

However, the “allowlist access was not revoked” the team said, and Sky Mavis added that “once the attacker got access to Sky Mavis systems they were able to get the signature from the Axie DAO validator by using the gas-free RPC.” Sky Mavis’s post mortem continued:

We have confirmed that the signature in the malicious withdrawals match up with the five suspected validators.

The attack against Ronin is one of the largest hacks against a crypto protocol this year, as it surpassed the attack against the Wormhole bridge. That specific attack against the Wormhole bridge saw the loss of $320 million, but the funds were replaced by Jump Crypto. Sky Mavis explained on Tuesday that the team is working with law enforcement in order to “ensure the criminals get brought to justice.”

Moreover, the team is in the process of discussing with stakeholders and talking about how to make sure users are compensated. “Sky Mavis is here for the long term and will continue to build,” the team’s post mortem concludes.

What do you think about Axie Infinity losing $620 million to someone who found a validator exploit? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Biggest Movers: WAVES up 50% on Tuesday, as RUNE and LUNA Move Higher

WAVES was undoubtedly Tuesday’s biggest gainer, climbing by as much as 50% during the session. Gains in WAVES came as well, as LUNA once again overtook SOL as the world’s eighth-largest cryptocurrency. RUNE was also a big mover today.

WAVES

WAVES was easily the biggest gainer during Tuesday’s trading session, as it rose to a new all-time high.

This was the second consecutive session in which WAVES rallied, further cementing itself as the world’s 32nd largest crypto.

Today’s peak saw WAVES/USD surge to an all-time high of $53.81, following a low around $31.9 in Monday’s session.

Looking at the chart, these recent highs have come as prices moved beyond recent resistance of $33.71, which was in place for roughly ten days.

Another ceiling which was broken was that of the 14-day RSI, where price strength rose past the resistance of 80.75, and now tracks at 89.38.

It is clear that prices are currently overbought, however, while tracking at these levels in the past, we still saw further highs.

This will likely create uncertainty for those looking to take positions going forward.

Thorchain (RUNE)

RUNE rose on Tuesday, following two days of declines, with prices gaining by as much as 20% during the session.

Following a low of $10.00 to begin the week, RUNE/USD climbed to a peak of $12.82 today, breaking out of its $11.09 resistance in the process.

Tuesday’s move has now pushed RUNE to its highest level since November 26, as bulls continue to target the all-time high.

This would be the $17.86 point, which was established in early November, and looks to be the price in which bulls are trying to recapture.

As of writing this, RUNE is up by 20.58%, with the 14-day RSI hovering around its ceiling of 80, which is within the overbought zone.

Although momentum could continue upwards, there are several signs that a reversal could be on the cards.

Can RUNE hit a new record high in April? Let us know your thoughts in the comments.

via Eliman Dambell

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The ‘Growth Collection’ — Ross Ulbricht to Auction Bitcoin-Backed NFTs on Satoshi’s Birthday

Following Ross Ulbricht’s non-fungible token (NFT) sale that raised 1,446 ether or $6.27 million at auction, Ulbricht is dropping another NFT compilation called the “Growth Collection.” According to the announcement, the NFTs will be minted using the Bitcoin blockchain and will be auctioned at the Bitcoin22 conference in Miami on April 6-8.

Ross Ulbricht Is Preparing Another NFT Auction That Includes Four Physical Oil Paintings and One Hand-Drawn Animation

Ross Ulbricht is preparing to auction a new NFT collection on Satoshi Nakamoto’s birthday, according to an announcement sent to Bitcoin.com News. The latest NFT collection follows Ulbricht’s last NFT auction which was sold for 1,446 ether, or $6.27 million at the time of settlement. That specific collection was acquired by the Pleasrdao project and the collection was later fractionalized. The fractionalized NFT collection is the 9th-largest fractionalized NFT project with a market capitalization of around $2.68 million.

On October 1, 2022, Ulbricht will begin his 10th year in prison as he was handed a double life sentence without parole for his involvement with the Silk Road marketplace. The investigation into Ulbricht’s case was a travesty filled with controversy and rogue officers, and the following trial was considered by many to be a miscarriage of justice. Ulbricht and his family have been fighting for his freedom ever since, and currently Ulbricht has a clemency petition hosted on change.org that’s nearing 500K signatures as the petition currently has 474,438 signatures at the time of writing.

The latest Ulbricht NFT collection will be auctioned at the Bitcoin22 conference in Miami on April 6-8. The auction will take place on Satoshi Nakamoto’s birthday and instead of leveraging Ethereum, the Growth Collection will be minted on the Bitcoin blockchain via Counterparty. The collection will be auctioned on Scarce.City, a bitcoin (BTC) and Lightning Network-native auction platform. The Growth Collection will include “four physical oil paintings and one hand-drawn animation and five corresponding Bitcoin NFTs with Bitcoin-tokenized certificate of authenticity (COA).”

In a statement sent to Bitcoin.com News, Ross Ulbricht wrote that working on the NFT projects has invigorated him. “We can look more broadly at making the whole system just, rather than focusing just on me,” Ulbricht said. “That is as it should be. There is a lot of work to do…All of this has brought a new spark to my life. I have direction and purpose and I feel like I can make a difference again. The more money we raise the more good we can do. I have put my heart, soul, and mind into this collection, and I am really looking forward to unveiling it to you.”

What do you think about the upcoming Ross Ulbricht NFT collection sale at the Bitcoin22 conference in Miami? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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DCG Mining Subsidiary Foundry Joins Texas Blockchain Council to Help Shape Crypto Public Policy

On Tuesday, Digital Currency Group’s (DCG) mining subsidiary, Foundry Digital, announced the company has joined the Texas Blockchain Council (TBC), a nonprofit industry association in the state of Texas. Foundry detailed the newly formed alliance is aimed at Foundry’s efforts to “help shape the regulatory landscape for digital assets” in North America.

Foundry Becomes a Texas Blockchain Council Strategic Partner Member

The digital asset mining, staking, and advisory services firm Foundry Digital has announced it has joined the Texas Blockchain Council (TBC). The organization TBC is a group of individuals and companies dedicated to bitcoin and blockchain-related advocacy and public policy initiatives.

“We exist to amalgamate the influence of our members, to advocate for blockchain-centric public policy initiatives, to educate members of government about the benefits of blockchain technology, and to provide subject matter expertise on topics related to blockchain and distributed ledger technology,” the TBC website details.

“Foundry is one of the most well respected names in the bitcoin mining industry,” TBC president Lee Bratcher said in a statement sent to Bitcoin.com News. “Their suite of tools from marketplace intelligence to mining pools to equipment financing are world-class. The Texas Blockchain Council is honored to announce Foundry as our newest strategic partner member,” Bratcher added.

In terms of other TBC strategic partner members (SPMs), the list includes well-known crypto firms like Marathon Digital Holdings, Argo Blockchain, Blockware Solutions, and Core Scientific. Furthermore, other SPMs include Cholla Petroleum Inc., Rhodium, Hyland, and Vantage Bank Texas. Corporate members of TBC include Deloitte, Compute North, Luxor, Steelhead Capital Management, and Blockfills.

In August 2021, after the passage of the U.S. government’s infrastructure bill, TBC formed a Texas Blockchain Committee PAC. Prior to the alliance with TBC, Foundry announced on March 3, that it joined the 70+ member organization the Blockchain Association. Foundry’s reasoning for joining the Blockchain Association is so the company can “bring its expertise and insight to Washington to shape the regulatory future of the crypto industry.”

Foundry has had a track record of significant deals and milestones during the last year. The same week Foundry joined the Blockchain Association it completed a 12-megawatt (MW) co-location deal with the bitcoin mining operation Mawson Infrastructure Group (MIGI). Last November, Foundry launched a range of services for a number of crypto staking networks and in December, the company revealed a mining machine marketplace.

Foundry USA, the firm’s bitcoin mining pool, has been the largest mining pool for the last three months, capturing 2,367 mining rewards during that timeframe. Kyle Schneps, the director of public policy at Foundry, believes joining the Texas Blockchain Council will be helpful to the crypto industry. “This membership will help us continue to diligently shape the policy narrative for our industry,” Schneps remarked during the announcement on Tuesday.

What do you think about Foundry becoming a TBC strategic partner member? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Bitcoin, Ethereum Technical Analysis: BTC Hits $48,000 as ETH Nears January High of $3,500

Bitcoin briefly hit a high above $48,000 on Tuesday, as prices of the world’s largest cryptocurrency rose for an eighth straight day. ETH was also trading higher during the session, with prices nearing their highest since January 5.

Bitcoin

Bitcoin reached the $48,000 level today, as the world’s largest cryptocurrency climbed higher for an eighth consecutive session.

On Tuesday, BTC/USD rose to an intraday high of $48,086.84, as prices rose to their highest point since New Year’s Eve.

Today’s move comes as bitcoin has sustained its upward momentum since breaking out of the then ceiling of $42,500 on March 22.

Now on the cusp of yet another resistance at $48,200, BTC’s recent streak will likely be tested, as bears will look to short at this point.

Looking at the chart, history shows us that there have been previous bearish runs at this point, similar to January 2, and with prices currently overbought, there is some reason as to why a reversal could occur.

Bulls will likely not give way without a fight, however, as longer-term investors sense a real opportunity to move towards $50,000.

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Ethereum

In addition to BTC, prices of ethereum also climbed on Tuesday, as the global crypto market cap rose by almost 2% as of writing.

ETH/USD climbed to an intraday high of $3,470.19 during today’s session, which is its highest level since January 6.

Today’s move now means that ethereum’s price has risen for 13 of the last 15 days, gaining close to 20% in value within that period.

The rally which took place today saw ETH breakout of its resistance level at $3,380, following a break beyond the $3,170 mark only two days prior.

As such, price strength continues to surge, with the 14-day RSI now tracking at 74.39, which is a multi-month high.

Although some will continue to anticipate a reversal, the momentum of the moving averages shows no sign of slowing down, which could lead to further gains.

Could we see the $3,500 level hit as early as today? Leave your thoughts in the comments below.

via Eliman Dambell

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Coinbase Set to Close Deal to Acquire 2TM, Parent Company of Latam’s Biggest Exchange, Mercado Bitcoin

Coinbase, a leading U.S.-based cryptocurrency exchange, is reportedly close to acquiring 2TM, the unicorn company that owns Mercado Bitcoin, the biggest crypto exchange in Latin America (Latam). The exchange has reportedly been in talks to acquire the company since last year, and the deal could be closed in April according to local media, seeing Coinbase expand its operations to Brazil.

Coinbase Targets Expansion With 2TM Acquisition

Coinbase, one of the first cryptocurrency exchanges traded on traditional stock markets, is aiming to expand its operations to Latam through purchases. According to reports coming from Estadao, a Brazilian publication, the company is in talks to acquire 2TM, the parent company of Mercado Bitcoin, a reference for cryptocurrency exchanges in Latam.

The two companies are said to have been in talks since last year, and the deal might be closing next month, though there have not been leaks about the amount Coinbase has decided to pay for the Brazilian unicorn. However, 2TM was valued at more than $2 billion in its latest Series B funding round, which had the participation of companies such as Softbank, 10T, and Tribe Capital. This would be part of the expansion policy of Coinbase to bring more economic freedom to the world, as the exchange mentioned in a shareholder letter in February.

The report also stated that Coinbase shifted its interest to Mercado Bitcoin after conversations broke down surrounding the acquisition of Bitso, a Mexico-based exchange with a presence in Latam.

Exchanges Entering Latam Through Brazil

The latest developments suggest that, while other countries may have a more developed cryptocurrency framework, or a more vibrant crypto community, exchanges and companies are turning to Brazil as a door to enter and offer services in Latam. Binance, another leading cryptocurrency exchange, is also investing in Brazil. The company announced this month it had signed a memorandum of understanding with the goal of acquiring Sim;paul Investimentos, a regulated brokerage firm, also as a part of its investment expansion policy.

2TM currently has more than 3.2 million customers that, depending on how Coinbase manages this acquisition, could be directly handed to the company. At the same time, 2TM had expansion plans to reach other regions of the continent, including Mexico, Argentina, Chile, and Colombia, which might remain or change if the acquisition goes smoothly and the talks conclude next month.

What do you think about Coinbase’s acquisition of 2TM, the parent company of Mercado Bitcoin? Tell us in the comments section below.

via Sergio Goschenko

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NFT of Nelson Mandela’s Arrest Warrant Raises $130,000

A South African museum, Liliesleaf Museum Heritage Site, recently raised $130,000 via the auction of a non-fungible token (NFT) created from an arrest warrant issued against Nelson Mandela in 1962.

Proceeds From NFT Sale to Fund Museum Activities

A non-fungible token (NFT) minted from the former South African President Nelson Mandela’s warrant of arrest was recently auctioned for $130,000 (1.9 million rands), a report has said. The proceeds are expected to help bankroll Liliesleaf Museum Heritage Site, an organization that documents South Africa’s fight for freedom and democracy.

According to a Bloomberg report, Liliesleaf Museum Heritage Site had initially received the original document in 2004 as a donation. The warrant itself was issued in 1962 by South Africa’s then minority rulers after they accused Mandela of conspiring to overthrow the government.

After holding the document for nearly 18 years, Liliesleaf Museum Heritage Site has again raised funds using an NFT which depicts an object once associated with South Africa’s freedom fighters. Before the latest auction, the heritage site had previously received about $50,000 after it auctioned an NFT of a pen gun that was owned by another South African freedom fighter, Oliver Tambo. In both instances, Momint — a South African NFT marketplace — handled the auctions.

The Pivot to NFTs

Commenting on the latest NFT auction, the CEO of Momint, Ahren Posthumus, is quoted in the report explaining why museums are pivoting to NFTs. He said:

Museum sites stay afloat. They have been badly affected by the lack of tourism due to Covid. So this is a way to revitalize their flow and keep history alive.

In addition to museums, conservancies like the Black Rock Rhino have used proceeds from NFTs to pay for some of the sanctuary’s day-to-day expenses. The pivot to NFTs by charitable organizations comes after one study suggested that more South Africans are buying or are interested in buying NFTs.

What are your thoughts on this story? Tell us what you think in the comments section below.

via Terence Zimwara

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Meta Brings Metaverse-Like 3D Ads to Facebook and Instagram

Meta is bringing interactive 3D ads to Facebook and Instagram feeds, inspired by the metaverse pivot the company has begun to execute since its name change. This is possible due to a new integration in Meta’s AR (Augmented Reality) publishing library with a development from a company called Vntana.

Vntana Integrates 3D Ads in Meta’s Apps

Publishers will now be able to include 3D models in their ads on platforms like Facebook and Instagram, that belong to Meta. This innovation will allow any publisher to include these metaverse-inspired ads in the feeds the platforms, with users being able to interact with the objects. The innovation was presented by a company called Vntana, which acts as a service provider so other companies can include their 3D assets in social feeds.

According to a press release issued by the company, Vntana has exclusive access to Meta’s AR API to integrate their services to be able to achieve this goal. “Just like regular ads, 3D ads appear in users’ Facebook and Instagram feeds displaying interactive 3D models that users can tap and interact with – moving the product around to view all angles,” the release details.

Metaverse Monetization

This innovation might be part of the first monetization strategies that include metaverse-like elements in Meta-owned platforms. On this, Ashley Crowder, co-founder and CEO of Vntana, stated:

3D and AR technology in online ads is the next frontier for brands looking to connect with the digital consumer and is a great first step into the metaverse.

She further stated that this release might bring democratization to the ad space in these platforms, given that now more companies can bring their products to pontential customers. Customers are also said to benefit because they can see a more detailed model of these products in a 3D, metaverse-like view.

Chris Barbour, director of Augmented Reality Business Development & Partnerships at Meta, declared:

3D and AR open a new door of advertising possibilities for retail and e-commerce brands, improving the customer experience from the point of acquisition.

Meta’s flagship AR app, Horizon Worlds, which offers a set of metaverse experiences for users, is currently not being monetized by the company. This technology might be used in the future to allow Meta to monetize and include ads from different brands in these spaces.

What do you think about Meta having the possibility of displaying metaverse-inspired ads on its platforms? Tell us in the comments section below.

via Sergio Goschenko

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An In-Depth Look at Satoshi Island — A Crypto-Centric Residential Community in Vanuatu Where Land Titles Are NFTs

According to reports, there’s a 32 million square-foot island located in Vanuatu that’s in the midst of being constructed into a crypto-centric residential community by the island’s owners: Satoshi Island Holdings Limited. So far, more than 50,000 individuals have applied to live on Satoshi Island, and land rights will be minted in the form of non-fungible token (NFT) assets.

After Construction Completes, Satoshi Island Aims to Be the ‘Crypto Capital of the World’

There’s an island located in Vanuatu, between Australia and Fiji, that’s currently being transformed into an island for cryptocurrency and blockchain advocates. Vanuatu is an archipelago that consists of 83 islands that originally stemmed from volcanic impacts.

Reports in the past show that farmland was being sold in Vanuatu for bitcoin (BTC) over six years ago in 2016. The nation of islands’ government is well known for being crypto friendly. Satoshi Island is also selling land in Vanuatu, as the region aims to develop “into a real-world crypto economy and blockchain based democracy.”

The website explains that the island is owned by Satoshi Island Holdings Limited and the island’s goal is to become “the crypto capital of the world.” The company managing the project claims the island build has been given the green light by the Vanuatu prime minister and the nation’s minister of finance.

Planning and development of Satoshi Island is being provided by the architectural firm James Law Cybertecture. Satoshi Island architects are leveraging a modular development that the website calls “sustainable smart building.” Module living units can be positioned any way the owner wants and they can be combined as well.

Modules are built off-island and shipped to Vanuatu, and when they arrive and are placed into position, island residents can officially move in. Satoshi Island Holdings explains that the team chose the nation of Vanuatu because the “government supports innovation and has crypto friendly laws.”

Satoshi Island will be built with sustainability in mind as the island’s power systems will utilize renewable energy methods. So far, there’s been a lot of interest in the crypto-focused island, as reports disclose that the company says 50,000 people have applied for residency.

Satoshi Island Land Titles Will Be Minted in the Form of NFTs, Island’s Public Opening Estimated to Begin in Q1 2023

Additionally, interested residents will purchase their land titles in the form of a non-fungible token (NFT). The company fully understands that “owning a Satoshi Island NFT requires a level of responsibility not usually associated with NFT ownership.” So beneficiaries will be used similarly to a last will and testament.

“Beneficiaries are applied to all Satoshi Island NFTs and holders are required to confirm wallet access periodically by calling a function in the smart contract,” the website explains. If an unforeseen circumstance occurs to the landowner the firm says:

If they cannot [call a function in the smart contract], their beneficiary will be able to claim their NFTs to ensure the assets are not abandoned. In the event that no beneficiary is set, the NFTs will be subject to a decentralized redemption period of 12 months, where previous owners can retrieve their NFT if a mistake was made. Once lapsed, NFTs will be the responsibility of a DAO controlled by the Satoshi Island community.

In addition to the land NFTs, Vanuatu citizenship will cost roughly $130,000. The island will be open to 21,000 crypto residents when the region officially opens to the public. Modular construction begins in the third quarter of 2022, and by the fourth quarter, a private opening for verified citizens of the island will be held. Satoshi Island Holdings estimates that the public opening will take place in Q1 2023 and residents can live in their homes for short and long-term periods and rent them, too.

The firm is also interested in startups and established companies setting up shop on the island. “Companies of all sizes are welcome and we have dedicated co-working space to suit start-ups, all the way up to entire campuses where large projects can build satellite offices, company retreats, or even permanent headquarters,” the website details.

While some reports indicate 50,000 applicants have applied to live on Satoshi Island, other reports have said: “80,000 people have already applied to receive NFT citizenship on Satoshi.” That claim is according to the Sydney-resident and operations and logistics director for Satoshi Island, Denys Troyak. The report published by ABC interviewing Troyak said that the Vanuatu Financial Services Commission (FSC) put out a press release saying that it had not granted licenses to Satoshi Island.

The FSC press release has since been deleted from the web, but was saved on archive.org. However, three days ago on March 25, 2022, Cointelegraph’s Joseph Hall reported that the Vanuatu Financial Services Commission has officially approved the Satoshi Island residential community project. Hall writes that Bob Loughman, the prime minister of Vanuatu, has “officially given the green light to Satoshi Island.” In the report written by Hall published on Friday, the owners of Satoshi Island are also quoted as saying:

With this full endorsement from the prime minister of Vanuatu in hand, we can show everyone that Satoshi Island is as real as it gets, and the kind words of the PM inviting our community to their home could not be a warmer welcome.

What do you think about Satoshi Island in Vanuatu and the NFT land title concept? Let us know what you think about this subject in the comments section below.

via Jamie Redman

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Biggest Movers: SOL Moves Past LUNA, as EOS and FIL Lead Monday’s Gainers

Solana reclaimed the eighth position in the crypto top ten, as ADA and DOT were both over 10% higher to start the week. Despite this, it was EOS and FIL which led today’s gainer, with FIL gaining over 30% in the session.

Filecoin (FIL)

FIL rallied by as much as 30% to start the week, as cryptocurrencies rose across the board during Monday’s session.

The global crypto market cap was 6.5% higher on Monday, led by gains in FIL, which rose to an intraday high of $25.62.

Today’s peak follows yesterday’s lows which saw FIL trading below the $20 level, following recent rallies from support of $17.50.

From this support, FIL/USD continued to move beyond the resistance level of $23.30, with today’s high hitting its highest point since February 8.

Looking at the chart, prices are currently overbought, as the 14-day RSI indicator is tracking at 75.10.

This is the highest reading since September 6, and as such bears may be looking for an opportune time to push prices lower.

EOS

Although ADA, DOT, and SOL were all almost 9% higher as of writing this, none rose as much as EOS on Monday.

Following a low of $2.56 to begin the session, EOS/USD climbed to a peak of $3.17, breaking out of its long-term resistance in the process.

Monday’s move saw the world’s 49th largest cryptocurrency surge past its ceiling of $2.77, on its way to its highest point since January 5.

Today’s three-month high came as readings on the RSI indicator were off the charts, as price strength also rose to multi-month highs.

As of writing this, the 14-day Relative Strength Index has a reading of 77.91, which is its most since August 15.

Similar to FIL, EOS bulls now have a conundrum, close positions and accept current gains, or go through the market uncertainty that is coming due to prices being overbought.

Is there more upside momentum in EOS despite current highs? Let us know your thoughts in the comments.

via Eliman Dambell

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Report: Digital AUM Surged to $48.7 Billion in March, Average Weekly Flows Turn Negative

The total aggregate digital assets under management (AUM) surged to $48.7 billion in March, up from the $43.9 billion that was recorded in January, the latest data from Crypto Compare has shown. In contrast, the average daily trading volumes fell by 29.6% to $259 million during this period.

BTC and ETH Products Lag Behind

According to the latest data from Crypto Compare (CC), the total aggregate digital assets under management (AUM) topped $48.7 billion in March 2022. This latest AUM number represents an increase of $4.8 billion, or 11.1%, from the $43.9 billion recorded in January, the data shows.

In its report, Crypto Compare also noted the surge in the total aggregate AUM had coincided with a period when bitcoin and ethereum-backed products had lagged behind. The report explains:

Interestingly, Bitcoin and Ethereum backed products lagged behind others and basket, which saw the largest relative increase of 17.5% to $1.81bn and 9.46% to $773mn respectively. Meanwhile BTC and ETH based ETPs [exchange-traded products] rose only 7.7% (to $33.6bn), and 9.1% (to $12.6bn) respectively.

Further breaking down the data, Crypto Compare also said it had seen a change from previous months “with ETFs [exchange-traded funds] seeing the largest gain of 14.3% to $3.39bn (6.95% of total AUM).”

Negative Average Weekly Inflows

In terms of the average net weekly inflows observed in March, Crypto Compare, which is a Financial Conduct Authority (FCA) authorized benchmark administrator, said these had “turned negative again” in March. In this period, average net weekly inflows were averaging $9.9 million.

“Ethereum products saw the largest decline in weekly flows, averaging an outflow of $14.2mn per week. This was followed by bitcoin products, which saw average weekly outflows of $2.5mn. The multi-asset based products saw the largest weekly inflow during March with $7.0mn,” the report said.

Meanwhile, according to CC’s latest digital asset management review, during this period the average daily aggregate trading volume went down by 29.6% to $259 million. This drop, according to CC, was the “fifth consecutive month in which trading volumes failed to break this trend.”

Contributing to the significant decrease in the average daily aggregate trading volume was 3iq’s Ethereum Product (QETH), which fell 61.1% to $892K. Coinshares’ Physical Bitcoin Product (BITC) had a decline of 77.2% — translating to $469K — while XBT Provider’s Ether Tracker Euro (ETH/EUR) had biggest margin drop in exchange-traded commodities (ETCs) after it fell 44.5% to $3.19 million in March, the CC report said.

What are your thoughts on this story? Tell us what you think in the comments section below.

via Terence Zimwara

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Bitcoin, Ethereum Technical Analysis: BTC, ETH Close to 3-Month High to Start the Week

Bitcoin and ETH rallied on Sunday evening, as prices approached their highest level in almost three months. BTC climbed above $47,000, while ETH moved past the $3,300 point to start the week.

Bitcoin

Bitcoin started the week in strong fashion, with prices rising past $47,000 for the first time since the beginning of the year.

On Monday, BTC/USD rose to an intraday high of $47,245, as prices rose to their highest point since January 2.

Today’s move took place following the breakout of the $44,950 resistance level during Sunday’s session, with prices now targeting yet another ceiling.

Bitcoin bulls will likely be looking towards the $50,000 mark as their next target, however they must first overcome resistance at $48,200.

However, looking at the chart, the 14-day RSI indicator is now deeply in overbought territory, tracking at nearly 70, which is its most since October.

This will likely be a huge obstacle for bulls to overcome, as price strength appears to have peaked, with bears possibly waiting for the perfect time to enter the market.

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Ethereum

ETH has also rallied to multi-month highs on Monday, as the world’s second-largest cryptocurrency extended its recent gains.

Today’s gains saw ETH climb to an intraday high of $3,351.07, which is the most the price has hit since January 16.

Current ETH bulls may however become slightly nervous, as the upcoming ceiling of $3,390 could get in the way of further upwards momentum.

Similar to BTC, the 14-day RSI on ethereum is currently overbought, with it currently tracking at 71, which is the highest point since September.

The upcoming ceiling is likely one of the main hurdles standing in the way of ETH, as it looks to climb back towards the $4,000 level.

Will we see further gains, despite prices being overbought? Leave your thoughts in the comments below.

via Eliman Dambell

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