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Brazil Becomes The First Country In Latin America To Approve Ethereum Exchange Traded Fund (ETF)

Mark Brennan
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Brazil Becomes The First Country In Latin America To Approve Ethereum Exchange Traded Fund (ETF)

Brazil Becomes the first country in Latin America to approve Ethereum ETF (QETH11).

The Brazilian Securities Commission (CVM) has approved the first-ever Ethereum (ETH) exchange-traded fund (ETF) just a few months after the approval of the Bitcoin ETF.

Read: Ethereum (ETH) Fees at Eight-Month Lows


Ethereum (ETF) will track the performance of the second-largest cryptocurrency. QR Asset Management will manage the fund.

QR Asset Management announced:

“Expanding the horizons for diversification, QETH11 has become an easy, secure, and regulated option for any investor to gain direct Ethereum access through their preferred brokerage firm.”

 

Local media reports claim that CVM approved a second cryptocurrency-focused, exchange-traded fund. The ticker QETH11 will be used for the Ethereum ETF, and it will appear on the country’s stock exchange B3. It will use the CME CF Ethereum reference rates used by CME Group.

Read: Goldman Sachs Report: Ethereum Has the Potential To Surpass Bitcoin As A Store Of Value

QR noted that the ETH ETF would be using “secure institutional custody” provided by Gemini, an American exchange owned by the Winklevoss Brothers.

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This is Brazil’s second-approved cryptocurrency exchange fund. The Bitcoin ETF was approved by the Brazilian securities regulator in March. Canada has three BTC ETFs that are active within its borders. All of them were approved since the start of this year.



On the other hand, US SEC continues to reject ETF applications and postpones the last attempts by VanEck Capital and SkyBridge Capital.

Read: Swiss Bank Sygnum Becomes First Regulated Bank To Offer ETH 2.0 Staking

Most Recently, Grayscale Investments selected BNY Mellon to be its asset service provider. This is a Grayscale preparation step to convert its Bitcoin Trust into a Bitcoin ETF. (Read More)

Cardano Price Prediction: A Trend Reversal Possible As ADA Is Nearing Critical Demand Zone

Albert Brown
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Cardano Price Prediction: A Trend Reversal Possible As ADA Is Nearing Critical Demand Zone

As the cryptocurrency market plunged, Cardano’s price broke the $1.24 support threshold. ADA price will likely fall into the demand zone between $1.15 and $1.19 before a trend reversal. The bullish thesis will be invalidated if buyers fail to hold $1.15 as support.

Read: Cardano Foundation Launched Cardano Developer Portal And Celebrated It By Minting World’s First NFTA On Cardano Blockchain


Cardano price has been in a downward trend since July 5, and this sell-off might be ending. A rebound from the critical demand zone will trigger a new uptrend.

cardano price prediction

Cardano’s price has fallen by 21% since July 5, after reaching $1.49. ADA is trading at $1.21, and Cardano price could reverse its current position to head higher or plunge into a support area ranging from $1.15 up to $1.19. The market structure of Bitcoin makes it likely that there will be an uptrend, no matter when it begins.

Read: Cardano Milestones: Why Cardano Is In High Demand And Popular Choice Of Retail And Institution Investors

Therefore, investors can expect buyers to grab ADA and break the immediate resistance barrier at $1.25 to enter the next demand zone that extends from $1.28 to $1.31.

Read: Cardano Founder Update On Alonzo

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A shift in momentum favoring the bulls will be confirmed by a decisive 4-hour candle closing above $1.30; this could extend the ADA uptrend towards the resistance at $1.37 and $1.45 in bullish cases. The ADA could cross $1.50 if buying pressure persists after overcoming $1.45, acting as a strong resistance.



Although the bullish scenario appears logical, a spike in selling pressure can break the demand zone of $1.15 and $1.19, which would indicate buying weakness. A decisive 4-hour candle closing below $1.15 would eliminate the bullish thesis and confirm the downtrend, potentially extending the downfall to $1, which is physiological support.

Grayscale Going For Bitcoin Exchange Traded Fund (ETF)

Mark Brennan
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Grayscale Going For Bitcoin Exchange Traded Fund (ETF)

Grayscale Investments selected BNY Mellon to be its asset service provider. This is a Grayscale preparation step to convert its Bitcoin Trust into an ETF.

Read: Satoshi-Era BTC Wallet Containing 791 Bitcoin Finally Woke up After Nine Years Of Inactivity


Grayscale continues to convert GBTC into Bitcoin ETF and is now partnered with BNY Mellon ETF service provider.

Grayscale published a press release stating that BNY will provide Grayscale funds accounting and administration services starting October 1. BNY Mellon will also offer ETF services to Grayscale as part of Grayscale’s ongoing efforts to transform Bitcoin trust into an exchange-traded fund (ETF).

BNY Mellon is active in the cryptocurrency industry over recent months. In February, they started offering Bitcoin storage, claiming that crypto is mainstream. They also invested in Fireblocks, the industry’s most trusted digital asset storage, and settlement platform.

Read: Apple Co-Founder, Steve Wozniak: “Bitcoin Is The Most Amazing Mathematical Miracle”

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Grayscale Announced:

“BNY Mellon was selected as the service provider for Grayscale Bitcoin Trust. This is a significant milestone in our efforts to convert GBTC into an ETF.”

 

Michael Sonnenschein, Grayscale Investments CEO, stated:

“Engaging BNY Mellon is an important milestone as part of our commitment to converting Grayscale Bitcoin Trust into an ETF; BNY Mellon has a long-standing reputation as a trusted provider and has established one of the first teams dedicated to servicing the growing digital currency asset class. We are pleased that BNY Mellon will join a group of Grayscale’s best-in-class service providers, helping us deliver a seamless, industry-leading investment experience.”

Read: Twitter And Square CEO Jack Dorsey Confirms Square Is Building a Bitcoin Hard Wallet



SEC recently approved Grayscale as an SEC-reporting company for its large-cap Digital Fund of Bitcoin and Ethereum, Bitcoin Cash, Ethereum Classic, and Litecoin.

As an SEC-reporting company, a lock-up period for trust shares is reduced from twelve to six months. The Trust will need to provide quarterly and annual filings via Forms 10-K, 10-Q, and 8-K. Grayscale shareholders and management are required to report beneficial ownership according to sections 13 and 16 of 1934’s Securities Act.

Satoshi-Era BTC Wallet Containing 791 Bitcoin Finally Woke up After Nine Years Of Inactivity

Mark Brennan
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Satoshi-Era BTC Wallet Containing 791 Bitcoin Finally Woke up After Nine Years Of Inactivity

After nearly ten years of inactivity, the Satoshi-Era Bitcoin wallet finally “woke-up.”



Whale Alert, a popular cryptocurrency-tracking Twitter bot, has deducted a Bitcoin wallet which has been inactive for more than nine years.

Whale Alert Writes:

“A dormant address containing 791 BTC (26,147,621 USD) has just been activated after 9.1 years!”

 

It has 791 BTC. This is equivalent to USD 26,147,621 fiat at the current BTC price.

The wallet was created just after Satoshi Nakamoto disappeared. However, the shadow of Satoshi Nakamoto’s presence is still felt.

Some Twitter users made jokes about the wallet owner that he finally remembered the passwords after trying unsuccessfully to recover it for 9.1 years.



In February and March of this year, large amounts (5,000 BTC and just under 2,000 BTC) of bitcoins were moved by their owners. These amounts have not changed since Satoshi’s era. The BTC exchange rate fluctuated in the past when miners transferred large amounts from their old wallets.

World Artificial Intelligence Conference (WAIC) Officially Indexed VeTrust Built On VeChain as “Innovative Frontrunner of Blockchain Application 2021”

Albert Brown
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World Artificial Intelligence Conference (WAIC) Officially Indexed VeTrust Built On VeChain as “Innovative Frontrunner of Blockchain Application 2021”

Recently Vechain foundation announced that VeTrust, built on VeChainThor, is officially indexed as ‘Innovative Frontrunner of Blockchain Application 2021’ by WAIC. The committee recognized VeTrust as a perfect example of merging public blockchain with the public sector, connecting all stakeholders from government to citizens.

Read: Vechain And Shopping.Io Became Partners To Enable Vechain Holders To Shop On Amazon, Ebay, Walmart And Etsy Using VET Token


 

Vechain CEO, Sunny Lu also attended WAIC and spoke on WAIC regarding VeChain’s mainstream adoption in the business world.

Highlights of Sunny Lu speech “How Blockchain Empowers Enterprises in the Digital Economy Era”:

“Hello everyone, I am glad to be here again at the World Artificial Intelligence Conference. I participate every year and talk about blockchain. The development of blockchain is also extremely fast and rapid. 

Read: Vechain Real World Transactions: 20K+ Enterprise NFT Transactions And Over 50K Transactions For The San Marino Digital Covid Certificates

Due to the development of the epidemic, the global digitalization process has been accelerated very rapidly. During this period, the process of digitization has been inseparable from the blockchain, because the blockchain solves the problem of “trust” in the process of digitization or in digital cooperation. So what is the very simple logic? That is, the whole world needs digitization, and enterprises are the backbone of the digitization process. Digitalization requires blockchain, and companies must now embrace blockchain.

Read: How Vechain Blockchain Can Be Useful In Dairy Products Market

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VeChain has also undergone many transformations. After doing about 70 or 80 enterprise cases, we have summarized the three major directions of enterprise application of blockchain technology for your reference. I believe that every enterprise will find its own suitable situation.

Read: San Marino Approves Vechain Powered National Digital Vaccination Passports And Why It Matters?

We divide Vechain technology into three layers. The bottom layer is called the BaaS layer. We found that it is extremely difficult for most companies to build their own blockchain, and a blockchian team to keep it functional. So to overcome this problem, BaaS platform allows companies to directly use public smart contracts, browsers, wallets, etc., and can also help companies develop customized smart contracts, and finally deliver an API interface, allowing companies to use the blockchain more quickly.

Read: VeChain Blockchain Milestones In Epidemic Prevention

We call the middle layer the PaaS platform. This is our innovative attempt-low-code PaaS. Because we have found that many companies will definitely produce new business scenarios or new business value when they use or try to build blockchain applications. At this time, you don’t want to change the original business system too much. Businesses want to build a new application. This is a very common situation. So we have PaaS platform, allowing enterprises to implement new applications. It is especially useful for multi-participating companies, that is, putting the part of the logic that everyone cooperates on this platform and implementing it in a low-code form. This greatly reduce costs and improve efficiency.

Read: A Comprehensive Long List Of Vechain Food Safety Use Cases

The top layer is SaaS, which requires various front-end interfaces to interact with users. Usually this part will need to be integrated into some business logic or new business innovation scenarios, usually with our partners, such as large partners such as PricewaterhouseCoopers, and small partners such as Suzhou Weixin to build new applications.

Read: Sunny LU, VeChain CEO: What VeChain Is Offering To Different Level Of “Developers”

Now will talk about some cases that are supported by Vechain. Previous DNV guests talked about My Story™, a digital product based on VeChain PaaS. In fact, this product is very interesting and has greatly changed the TIC industry. My Story™ has greatly helped DNV’s global digitalization process during the epidemic. 



Non fungible Tokens (NFTs) are hot these days. We feel that at present, NFT is more important to focus on usage scenarios. Recently, we also used the PaaS platform to quickly develop a vaccine passport to serve the Republic of San Marino.

Recently Suzhou City Launched “Changan Code” Based On Vechain Toolchain Covering More Than 300,000 Local Residents.

Reda More: Suzhou City Launched “Changan Code” Based On Vechain Toolchain Covering More Than 300,000 Local Residents

Therefore, I believe that more and more companies will embrace blockchain technology, and more and more businesses will be on Vechain. As each enterprise has its own different needs We can speed up the implementation of blockchain applications together. Thank you.”

 

 

Cardano Foundation Launched Cardano Developer Portal Bringing Unique Features, Brand New Content And Resources

Mark Brennan
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Cardano Foundation Launched Cardano Developer Portal Bringing Unique Features, Brand New Content And Resources

Cardano ecosystem keeps on growing, with so much happening in Cardano. Recently Cardano foundation announced the launch of Cardano Developer Portal, bringing new features and lot of ease for ADA developers.

Read: Cardano Milestones: Why Cardano Is In High Demand And Popular Choice Of Retail And Institution Investors


Cardano Foundation Said:

“The Cardano Developer Portal is live! Rocket. To celebrate, we minted the world’s first NFTA on the Cardano blockchain. Building on Cardano is now easier with brand new content and resources.”

 

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Main Features:

Main features of Cardano Developer Portal are:

Integrate Cardano:

Users can Explore Cardano Wallets and learn how to integrate Cardano into applications and websites.

Read: Cardano Founder Update On Alonzo

Operate a Stake Pool:

Users can learn what it takes to become a stake pool operator from a technical and marketing perspective.

Discover Native Tokens:

Users can read what native tokens are, how to mint them, ways to create NFTs and why there is no need for smart contracts for all this.

Read: Cardano Foundation Long Term Plans

Fund your Project:

Understand Project Catalyst and how users can use it to fund their projects if build on Cardano.



Build with Transaction Metadata:

Get familiar with transaction metadata is, how to add it to a transaction, how to view the metadata and what potential use cases are.

For more details please visit: https://developers.cardano.org/docs/get-started/

Read:

Skybridge CO, Troy Gayeski: “Bitcoin Is Setting Itself Up For Some Supply Shock”

Mark Brennan
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Skybridge CO, Troy Gayeski: “Bitcoin Is Setting Itself Up For Some Supply Shock”

Troy Gayeski a Co-Founder and Senior Portfolio Manager at SkyBridge recently told Bloomberg, that Bitcoin is preparing for “some supply shock”, similar to that which occurred in November.

Read: Apple Co-Founder, Steve Wozniak: “Bitcoin Is The Most Amazing Mathematical Miracle”


Gayeski claims that many strong holders are reasserting themselves based on BTC on-chain data. He adds that Bitcoin risk reward is now more upwardly biased.

He Said:

“The On-chain data is basically telling you that lot of strong holders are reasserting themselves and accumulating from those that got into the market last year, And BTC is setting itself up for some type of supply shock very to similar to what we had in last October-November And we think the Risk-Reward is skewed again to the upside.”

Read: Twitter And Square CEO Jack Dorsey Confirms Square Is Building a Bitcoin Hard Wallet

SkyBridge Capital launched a Bitcoin fund at the close of 2020. Gayeski claims that the firm was forced to reduce its position due to falling prices and invested some of its capital into Ethereum.

Gayeski believes that bitcoin will continue to be the most valuable store of value.

The US Securities and Exchange Commission delayed a decision last week on a Bitcoin exchange-traded funds (ETF) filed in May by SkyBridge Capital.

Bitcoin is trading in the same range for many weeks, as bears and bulls continue their tug of war.

Read: A New Bill Submitted By Argentine Lawmaker Propose Bitcoin Salaries

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According to Pete Humiston, Manager of kraken Intelligence, BTC Bollinger Bands that are used by traders to measure volatility have been the tightest since October 13.

Tight range Bollinger Bands history suggest that high volatility is coming soon.



Watch Bloomberg Video:

Cardano Milestones: Why Cardano Is In High Demand And Popular Choice Of Retail And Institution Investors

Mark Brennan
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Cardano Milestones: Why Cardano Is In High Demand And Popular Choice Of Retail And Institution Investors

Cardano is in high demand, and altcoin is a popular choice for American investors. Cardano potential use cases and high staking returns are the key factors behind the popularity of Cardano. Demand is expected to rise more with the Alonzo hard fork coming with smart contract functionality.


eToro American users popular choice is Cardano; ADA demand has exceeded BTC on eToro. Despite the delayed arrival of Alonzo much-anticipated hard fork, the number of ADA holders has increased.

Cardano is the leading stake able digital asset in front of ETH 2.0, Polkadot, and others, with more than 70 percent of total Cardano supply locked in the ADA network for staking.

The amount staked in Cardano (ADA) network has increased to more than $31 billion. Cardano has also achieved a new milestone; ADA staking addresses have crossed 660,000, with more than 50,000 staking addresses have joined Cardano in the last few weeks.

Cardano staking is worth about $31 billion. Total active addresses are 671,254, active pools are 2669, and 71% is of the total Cardano supply is in staking.

Cardano’s retail and institutional demand are on the rise. The demand from institutions for Cardano has increased significantly in the last few months. 

Recently, Grayscale, the Leader in Digital Currency Investing, announced that they had added Cardano to their Crypto trusts. Cardano became the Grayscale third-biggest holding with a 4.26 per cent share only behind BTC and ETH.

Read: Grayscale Adds Cardano To Their Product Family

American retail investors are also becoming more confident in Cardano’s potential. ADA has become the most popular cryptocurrency on eToro and replacing BTC.

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Cardano demand increased by 51% on the social trading platform in the last quarter.

Simon Peters, eToro’s crypto market analyst, stated:

“Cardano revealed a more detailed roadmap for the upcoming Alonzo hard fork in the second quarter. This will allow smart contracts functionality to be written and deployed on the Cardano blockchain for the first time. This update is significant because it will enable developers to create projects on Cardano network, which will help Cardano position itself as a true competitor of Ethereum.”

Peters stated that Alonso’s hard fork shortly is good news for investors. When smart contract functionality is enabled, a wide variety of Defi applications can deploy on the Cardano network.

Vitalik Buterin, the founder of Ethereum, seems to be impressed by the efforts made by IOHK to make Cardano more useful.

Buterin stated:

“There are interesting ideas in there. I think Cardano takes a bit of a different approach than Ethereum in that they emphasize having these big academic proofs for everything. In contrast, Ethereum tends to be more okay with heuristic arguments. In part because [Ethereum is] just trying to do more faster. But there are very interesting things that come out of IOHK Research.”

In Cardano Foundation Long Term Plans, the foundation announced to Onboard Ten Fortune 500 Companies,1 Billion Users, And 50 Banks in five years.

Read: Cardano Foundation Long Term Plans

 

Santiment: Ethereum (ETH) Fees at Eight-Month Lows

Mark Brennan
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Santiment: Ethereum (ETH) Fees at Eight-Month Lows

According to Santiment, The average transaction fee on Ethereum (ETH) has fallen to its lowest level since December 2020.

Read: Swiss Bank Sygnum Becomes First Regulated Bank To Offer ETH 2.0 Staking


Previously Ethereum (ETH) network was congested, transactions were slow and expensive, making them unaffordable for many small investors. Because of ETH high fees many users and developers have moved to other blockchains, but now Ethereum fees have fallen to multi-month lows.

According to Santiment latest tweet, the average transaction fee for Ethereum (ETH) has dropped to levels that were not seen sinceDecember 2020.

Read: Goldman Sachs Report: Ethereum Has the Potential To Surpass Bitcoin As A Store Of Value

Santiment writes: 

“Ethereum’s average fees are down to $2.19, which is the lowest the #2 market cap asset has been since December 2020. This is a promising sign that ETH’s utility can rise with little impact of fees standing in the way of healthy circulation.”

The average transaction fee for an Ethereum (ETH) transaction is as low as $2.19 in mid-July 2021. Other trackers found that the average transaction fee for Ethereum (ETH) is $2.75.

 

The average fees are at their lowest level in multi-months. The average commission per Ethereum transaction (ETH) is below $1.40.

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What Does This Signify?

Ethereum (ETH) fees have fallen 97 percent since their peak. Analysts at Santiment see this as a positive sign of the Ethereum (ETH) network.

Lower fees mean more convenient transactions and more users on the Ethereum network (ETH).

This signifies that ETH’s utility could increase with little impact of fees that discourage healthy circulation.

Read: Less Risk Of Major Sell off As Ethereum Balances See Big Drop On Exchanges

Many decentralized applications were ported to other smart contract environments by their teams in the wake of the high Ethereum (ETH) network fees. But now things are changing, and low fees will encourage more dapps to adopt Ethereum. ETH ecosystem will grow more speedily when small and medium-size investors are encouraged to use ETH more frequently because of its falling fees. 

Previously the primary beneficiaries of congested Ethereum were Polygon (formerly Matic Network) and Binance Smart Chain (BSC).

Cardano Price Prediction: Top Crypto Analyst Highlighted Main Point That Could Push Cardano To Reach $5 By 2022

Mark Brennan
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Cardano Price Prediction: Top Crypto Analyst Highlighted Main Point That Could Push Cardano To Reach $5 By 2022

The Cardano ecosystem has received some big headlines weakening the bear cycle. There is no doubt that Cardano is a top altcoin, and the crypto community is showing great interest in ADA as the blockchain is on the verge of becoming a smart contract compatible with the Alonzo update scheduled for next month.

Read: Cardano Founder Update On Alonzo


If we look at Cardano ecosystem, there is so much going on. In Cardano Foundation Long Term Plans, foundation announced to Onboard Ten Fortune 500 Companies,1 Billion Users, And 50 Banks in five years.

Read: Cardano Foundation Long Term Plans

Recently Grayscale that is Leader in Digital Currency Investing announced that they have added Cardano to there Crypto trusts and Cardano became the Grayscale third-biggest holding with a 4.26 percent share, only behind BTC and ETH.

Read: Grayscale Adds Cardano To Their Product Family

Also Cardano is the leading the stake able digital assets in front of ETH 2.0, Polkadot and all others, with more than 70 percent of total cardano supply locked in ADA network for staking.

Read: Cardano Gets On The Top Of Stakeable Assets List With More Than 70% Of Total ADA Supply Is Now In Staking

As all eyes have turned to the fifth rank altcoin, popular crypto analyst Nicholas Merten also turned his attention towards Cardano. Nicholas Merten also known as DataDash is a well know You tuber with above 462k YouTube followers. He has been in crypto since early 2012 and is widely known for his crypto analysis.

Merten, in a recent Youtube video, “Cardano | Is It Set For A Supercycle?” identified one critical catalyst that he says should push Cardano to new all-time highs.

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According to Merten, Cardano strong price surge is just one bullish catalyst away:

“Gotta say, this chart (ADA/USDT) looks good, and it shows me in this general case that over the next couple of weeks to the next two months that there’s going to be some catalyst that’s going to carry price higher.”

Merten said that the bullish point that will push ADA price to a new all-time high is the completion of Goguen. The Goguen update enables Cardano to integrate smart contracts capability. According to Merten, this is a highly-anticipated development that can push Cardano to greater heights against USD, BTC, and ETH.

Read: Cardano Price Analysis: ADA Bulls Need To Show Up As Bears Are Defending $1.45 Resistance

He said:

“So with this potential launch in August, this is the perfect macro-catalyst to leapfrog all of these charts, to get market dominance climbing up to higher single digital territory, to get ADA/ETH starting to build up for that next breakout to revisit those highs and maybe claim an even higher point in the ratio. ADA is climbing to $3, even as high as $5, into the later stages of the bull market.” 

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He further said:

“This is probably the most conservative element here if we’re just following the higher lows and higher highs for the dollar chart.”

He also highlighted that investors have a deep interest in Cardano and are waiting anxiously for Cardno to perform.

“Now it’s finally time to see the materialization of that hard work. It is, in my opinion, now or never. Cardano is in the spotlight here. It’s got a lot riding on it, and investors are waiting to see it.”

Watch Video:

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