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Crypto Market Loses $250 Billion Amid Fear Of Biden Tax Blow

Mark Brennan
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Crypto Market Loses $250 Billion Amid Fear Of Biden Tax Blow

According to Coinmarketcap latest data, the crypto market fell by more than $250 billion in the last 24 hours as Bitcoin declined for the seventh time in eight days, extending losses after President Joe Biden proposed doubling the capital gains tax.

Joe Biden administration plans to raise the capital gains tax on citizens whose earnings exceed $1 million. The tax can double to 43.4% above the current rate. The S&P500 closed with a 0.9% decrease after this news. Bitcoin price fell to $ 48,381, a level not seen since the beginning of March.


Bitcoin declined by 5.9% to $48,597, as it continued to lose momentum. JPMorgan Chase & Co. and Tallbacken Capital Advisors LLC not too long ago warned that there’s potential for additional declines after the biggest cryptocurrency fell from an all-time of $64,880 on April 14 and hit key technical levels.

Bitcoin has fallen beneath 50-day moving average, which it thought of much importance throughout this rally, mentioned Pankaj Balani, CEO of Delta Exchange.

There are reports on social media that the plan is hurting cryptocurrencies, and individual traders are complaining about losses, analysts say the decline is probably going to be temporary, because of recognition of digital currencies as a legitimate asset class by retail and institutional investors.

Ethereum has considerably outperformed Bitcoin. ETH fell greater than 10% to $ 2,130 a day after hitting a record high of $2,655.87. It final traded down 6.4% to $ 2,253.86. Bitcoin also weakened, falling 3.72% to $ 49,724.97.

Matt Maley, chief market strategist for Miller Tabak + Co Said:

“One of the biggest things you have to worry about is that the things with the biggest gains are going to be most susceptible to selling. It doesn’t mean people will dump wholesale, dump 100% of their positions, but you have some people who have huge money in this and, therefore, a big jump in the capital gains tax, they’ll be leaving a lot of money on the table.”

In 24 Hours Grayscale Buys $1Billion In Crypto

Mark Brennan
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In 24 Hours Grayscale Buys $1Billion In Crypto

Grayscale tweeted Wednesday that total assets under its management were $45.8 billion compared to $44.9 billion the day before.

As of April 21, the Grayscale owns $45.8 billion worth of Bitcoin and other cryptocurrencies.

Grayscale Investments has acquired another incredible amount of crypto in just 24 hours of $0.9 billion worth of digital assets.


Grayscale has bought more altcoins to add to its already huge holdings. As of April 22, the company has acquired 519 ZEN, 967 LPT, and 29,990 LINK.

 

In the last seven days, Grayscale has acquired 71,035 XLM and 2,965 ZEN, and in altcoins based on five recently launched trusts: LINK: +42,507, BAT: + 259,421, MANA: +278,205, LPT: +20146, FIL: +3,524

While premiums for Bitcoin, Ethereum, and Ethereum Classic Trust remain negative, premiums of LTC and BCH have seen have seen a huge jump.

Litecoin Trust (LTCN) shares are trading at a whopping 859.42% premium, while Bitcoin Cash Trust (BCHG) shares are changing hands at a +239.69% premium.

Extremely high premiums in grayscale show overbought products, indicating that investors are beginning to lock in their profits.

Man Offers To Buy 111 Tesla Model 3s If Elon Musk Gets Tesla To Accept Bitcoin Cash

Mark Brennan
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Man Offers To Buy 111 Tesla Model 3s If Elon Musk Gets Tesla To Accept Bitcoin Cash

Not so long ago, the electric car manufacturer Tesla announced that it accepts bBitcoin (BTC) for payments, and also mentioned that the coins will not be sold for fiat money. Most recently, the host of a Youtube channel 1stmil.com said that he would buy 111 Tesla Model 3 cars.

Host of the educational Youtube channel 1stmil.com says he intends to purchase 111 Tesla cars if Elon Musk forces Tesla to accept payments in Bitcoin Cash.


The Youtuber has been posting videos on Youtube for three years, and his hobby is to tell others about financial freedom. The purchase price of the 111, 2021 Tesla Model 3 at a base price of about $38,500 per vehicle will be worth more than $4.2 million.

He is standing in the parking lot of a Tesla dealership and shows a wallet with BCH on his smartphone, with which you can buy up to three Tesla Model 3 cars.

“As you can see, I’m back at Tesla again, They don’t know I’m here, and I want to surprise everyone at Tesla, especially Elon Musk. As a special celebration of 10x in [bitcoin cash], me and a friend of mine who is a major promoter of bitcoin cash came up with great ideas on how to get Elon Musk to accept Bitcoin cash for payments.”

Watch Video:

On Earth Day Ripple Co-Founder Chris Larsen Says Bitcoin Should Switch to Proof-of-Stake

Mark Brennan
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On Earth Day Ripple Co-Founder Chris Larsen Says Bitcoin Should Switch to Proof-of-Stake

In a recent Earth Day blog post, Ripple co-founder Chris Larsen urges Bitcoin miners, and core developers to consider abandoning the Proof-of-Work consensus mechanism.


Let’s work with the people who create and contribute to the Bitcoin code, key miners, exchanges, and core developers-to consider opting out of PoW.

Larsen argues that such a change would be very important for Bitcoin to remain the dominant cryptocurrency.

He warns that institutional investors will undoubtedly face pressure from regulators to sell their assets because of PoW’s huge carbon footprint.

He adds that Ethereum should be praised for its decision to switch to Proof-of-Stake.

Larsen argues that Bitcoin should move to either PoS, which now accounts for 43 percent of the total cryptocurrency market capitalization, or the Federated Consensus XRP Ledger.

The ex-CEO of Ripple when said that China could eventually destroy Bitcoin. His statement drew widespread criticism in the crypto community.

 

Chiliz CEO Alexandre Dreyfus Announced Working On Chiliz Chain V.2

Mark Brennan
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Chiliz CEO Alexandre Dreyfus Announced Working On Chiliz Chain V.2

Chiliz CEO Alexandre Dreyfus has announced that they are working on the next version of Chiliz Chain. With the new version, users will be able to generate various tokens such as non-fungible tokens (NFT) and fan tokens.

Alexandre Dreyfus Explained that new features will be added to the Socios.com application in the next 2 weeks.


Chiliz Chain currently operates as a side-chain using the Ethereum infrastructure and proof-of-authority (PoA) algorithm. It is said that non-fungible tokens and fan tokens can be minted in Chiliz Chain v2.0, which is under development.

Dreyfus said that all the establishment they have achieved over time, but they are “at the beginning of the road”.

According to Dreyfus’s statement, the default token of Chiliz Chain v2.0 will remain CHZ. While no date was given for Mainnet, it was stated that testnet will be ready very soon.

Working in compliance with ERC-20 and BEP-2 standards, CHZ was launched in February 2018 at a price of $0.0215. The price hit a record $0.878 on March 13, 2021, according to CoinGecko.

 

Binance list FC Barcelona Fan token

Mark Brennan
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Binance list FC Barcelona Fan token

Cryptocurrency exchange Binance has announced that it will list the FC Barcelona Fan Token (BAR). The BAR will initially be listed in the exchange Innovation Zone.


Users will be able to purchase BAR tokens using BNB at a 30% discount prior to the trading start time. The subscription period will start shortly at 2021-04-21 5:00 AM (UTC) and will be open for 3 hours.

Binance users will be able to start trading with BAR/BTC, BAR/BUSD and BAR/USDT pairs on 2021-04-21 11:00 AM (UTC).

Chiliz launched the FC Barcelona fan token, which it developed with FC Barcelona on June 2020.

BAR Discount Sale Details:
  • Token Name: FC Barcelona Fan Token (BAR).
  • Discount Sale Hard Cap: 2,000,000 USD.
  • Discount Sale Token Price: 1 BAR = 0.04512816 BNB (26.761 USD, using a BNB price of 593 USD).
  • Hard Cap Per User: 112.10 BAR (3,000 USD or 5.05902192 BNB, using a BNB price of 593 USD).
  • Tokens Offered: 74,735 BAR (0.19% of Total Token Supply).
  • Total Token Supply: 40,000,000 BAR.
  • Current Circulating Supply: 2,950,648 BAR (7.4% of Total Token Supply).
  • Discount Sale Format: Subscription.
  • Supported Sessions: BNB only.

Source: https://www.binance.com/en/support/articles/bc5b4c305f0a4dcdbef2796b39e252d3

Gaming Giant Ubisoft Has Become A Validator In Tezos Network

Jakkk
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Gaming Giant Ubisoft Has Become A Validator In Tezos Network

The French gaming giant Ubisoft, known for Assassin’s Creed and Far Cry, has joined the ecosystem of the Tezos blockchain platform as a corporate validator.


Ubisoft representatives said that the company continues to study the blockchain through the Strategic Innovation Lab.

As a validator on the Tezos network, the company plans to experiment with the liquid proof-of-stake (LPoS) consensus mechanism and explore the potential of the technology for the future of gaming.

Previously, the satker in the Tezos network was a division of the French energy company EDF Group.

In March 2021, the European insurance firm Wakam also joined the platform ecosystem as a corporate validator.

Recall that the financial firm Societe Generale has released the first structured product in the form of security tokens on the public Tezos blockchain.

PR – Ubisoft x Tezos_VEN

 

Newegg An Online Retail Giant Started Accepting Dogecoin As Payment Method

Mark Brennan
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Newegg An Online Retail Giant Started Accepting Dogecoin As Payment Method

Newegg, an online electronics retailer, has started accepting Dogecoin (DOGE) as the official payment method with BitPay.

Before the official announcement, the company began teasing the news on Twitter, asking Tesla CEO Elon Musk if he would shop with them if they added his favorite cryptocurrency.

The online retailer from the US claims that this ad is intended to celebrate Doge’s Day, a fictional holiday that is celebrated on April 20, as it is assumed that the Doge will reach the $1 mark.


 

Sr. Brand Manager, Andrew Choi, of Newegg said:

“The excitement and momentum around CRYPTOCURRENCY are undeniable, and the recent surge in Dogecoin value underscores the need to make it easier for customers to make purchases with this popular CRYPTOCURRENCY,”

He said further:

“We’re committed to making it easy for our customers to shop however works best for them, and that means letting them complete transactions with the payment method that suits them best. To that end, we’re happy to give Dogecoin fans an easy way to shop online for tech.”

Prior to Newegg, Mark Cuban of the Dallas Mavericks stated that the NBA team would allow people to pay Dogecoin (DOGE) to purchase tickets and merchandise through a partnership with BitPay.

Hooks Add Smart Contract Functionality To XRP Ledger

Mark Brennan
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Hooks Add Smart Contract Functionality To XRP Ledger

Hooks add smart contract functionality to the XRP Ledger: ‘layer one’ custom code to influence the behavior and flow of transactions. Hooks are small, efficient pieces of code being defined on an XRPL account, allowing logic to be executed before and/or after XRPL transactions.


The XRP ledger is known and is being appreciated for its transaction throughput, speed and the low fees. Combined with available advanced transaction types like multi sign, escrows, payment channels and even a decentralized exchange (all on ledger, out of the box, without requiring smart contracts) the XRPL has a lot to offer businesses and (creative) developers.

Hooks add smart contract functionality to the XRP Ledger: ‘layer one’ custom code to influence the behavior and flow of transactions. Hooks are small, efficient pieces of code being defined on an XRPL account, allowing logic to be executed before and/or after XRPL transactions. These hooks can be really simple, like: “reject payments < 10 XRP”, or “for all outgoing payments, send 10% to my savings account” or more advanced.

By allowing hooks to not only execute efficient logic but also to store small, simple data objects, one could define a hook like: “for incoming payments transactions, check if the sending account is in a list maintained by another hook, and if present: reject the transaction”.

Hooks are deliberately not Turing-Complete. While often touted as the holy grail of smart contracts, Turing-Completeness is actually inappropriate for smart contracts.

Hooks are currently live on a public testnet. It’s time for testing, coding, having fun & breaking things, so a future amendment to add Hooks to the XRP Ledger livenet can be drafted with confidence, hopefully at the end of 2021.

6 Exciting Altcoin News To Follow This Week

Albert Brown
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6 Exciting Altcoin News To Follow This Week

The total value of the cryptocurrency market has again gone over $2 trillion after Sunday fall. While the market dominance of Bitcoin is staying at 52.2. Some altcoin prices have started to rise again after a tweet from FXHedge that erased $288 billion from crypto market.

Read More: Shady Twitter Account Fxhedge Tweet Erased $288 Billion From Crypto Market


Cryptocurrency investors are preparing for a new week after the market drop. The 6 altcoins to follow this week are IOTA, Tezos, PancakeSwap, Avalanche, TrustSwap and Elrond, respectively.

IOTA (MIOTA)

News This Week: With Chrysalis just around the corner, the team is heads down in the final bits and pieces to make everything as smooth as possible both on April 21 and April 28

Why To Follow: Tests are being run on multiple instances of infrastructure to test all the migration scenarios. Iota Team has also already deployed the Chrysalis Mainnet infrastructure that will replace the current Mainnet. This will be reset on the day of launch, April 28, and will turn the current Mainnet into legacy Mainnet. Migration is being tested via Firefly builds in both an internal and external group of users.

Read More: https://blog.iota.org/dev-status-update-april-2021/

Tezos (XTZ)

News This Week: Tezos Domains Launch, Tezos Domains will be available to everyone from April 21st.

Why To Follow: Tezos Domains is a project similar to Ethereum Name Service. People will be able to match their Tezos addresses with a domain name through the auctions here. When a transaction is to be made, a name such as “blockchain.tez” can be used instead of the wallet address that seems complicated. This is expected to provide convenience to many people who deal with Tezos in general, especially for decentralized application (dApp) users.

Read More: https://tezos.domains/about/schedule

PancakeSwap (CAKE)

News This Week: PancakeSwap will reduce the token supply in the biggest ever cake token burning.

Why To Follow: PancakeSwap, who burns tokens weekly, said on April 19, “Today’s burning will be the biggest ever.” During last week’s burning, 4,842,540 CAKEs were destroyed, worth more than $119 million at that time.

 

Avalanche (AVAX) and TrustSwap (SWAP)

News This Week: Avalanche (AVAX) & Trust Swap (SWAP) have joined forces to bring the first-ever Launchpad to Avalanche.

Why To Follow: The TrustSwap Incubator Program is a brand new initiative assisting innovative and emerging ideas to be transformed into some of the most notable crypto startups in the industry. TrustSwap is the one-stop-shop for accelerating the growth of new crypto projects, embedding professional consultation throughout the full implementation process and the innovative TrustSwap Launchpad as the capital-raising platform.

Read More: https://trustswap.medium.com/the-trustswap-incubator-430c91bc00ef

Elrond (EGLD)

News This Week: EGDL owners will be able to claim MEX tokens.

Why To Follow: MEX is a token of Maiar Exchange, an automated market maker (AMM). Almost half of the MEX, with a supply of 1 billion, will be distributed to owners of Elrond (EGLD) token holders. During the snapshot, the EGLD amount people hold in Maiar or in wallets such as Ledger will be counted. MEX will be the first token of the Elrond ecosystem.

 

Other Altcoin Updates (Top 100)

Chainlink (LINK) and ILLUVIUM (ILV)

  • 19 Apr 2021
  • Live AMA with Chainlink
  • “Tune in on Mon, April 19, 2021 7:00 AEST to catch @KieranWarwick on @Chainlink Live’s Video Q&A.”

Source:

Hedera Hashgraph (HBAR)

  • 20 Apr 2021
  • Virtual Meetup
  • “A Virtual Meetup about the details of the upcoming NFT auction. This includes how to mint an NFT with Hedera Token Service.”

Source: https://www.meetup.com/Hedera-Hashgraph-Virtual-Meetup/events/277450060/?isFirstPublish=true

Hedera Hashgraph (HBAR)

  • 22 Apr 2021
  • Testnet V0.13.0 Release
  • “Scheduled (Apr 22, 2021, 18:00 UTC): Hedera will be upgrading the Testnet to v0.13.0.”

Source:

Binance Coin (BNB), Litecoin, DASH, And Waves

  • 21 Apr 2021
  • Blockchain Life 2021

  • “Blockchain Life 2021 is the main industry event of the year to take place in offline format.”

Source: https://blockchain-life.com/europe/en/

Polkadot (DOT)

  • 21 Apr 2021
  • Polkadot Learn Pathway
  • “Funded by Polkadot’s Treasury, the Polkadot Learn Pathway is one of the fastest ways for developers to learn how to build within the Polka”

Source:

Horizen (ZEN)

  • 22 Apr 2021
  • ZEN 2.0.22 Deprecation
  • ZEN 2.0.22 deprecation will happen on block #920000 (April 22nd).

Source: https://horizen.libsyn.com/horizen-weekly-insider-79-15march2021

ICON (ICX)

  • 25 Apr 2021
  • Balanced DeFi Launch
  • “Balanced: coming to you live, April 25 at 6pm PDT.”

Source:

Theta Network (THETA) and Theta Fuel (TFUEL)

  • 25 Apr 2021
  • NFT MARKET PLACE
  • “NFT + DIGITAL ASSETS NFTs Market Place Powered by Theta Native Chain.”

Source: https://thetadrop.com/

 

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