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ARK Sells Tesla Shares Worth $99.5 Million To Buy Another $64 Million In Coinbase Shares

Mark Brennan
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ARK Sells Tesla Shares Worth $99.5 Million To Buy Another $64 Million In Coinbase Shares

According to the firm’s daily trading summary, ARK funds bought more shares of crypto exchange Coinbase Global Inc on Friday, selling shares of electric car maker Tesla.


On Friday, ARK bought 187,078 shares of Coinbase, which debuted on the Nasdaq earlier this week, for nearly $64 million at the day’s closing price of $342.

There were 134,541 Tesla shares sold at the end of Friday for $99.5 million. Tesla still holds the leading position among the company’s fixed assets by value.

The funds were added to ARK’s innovation fund, the Next-generation Internet ETF, and the Financial Technology Innovation ETF.

Coinbase’s purchases add up to 341,186 shares purchased on Thursday and 749,205 shares purchased on Wednesday.

ARK sold shares of Tesla from its flagship fund and the Next Generation Internet ETF.

Betting on Coinbase gives ARK more indirect access to cryptocurrencies in addition to its big bets on companies like Tesla, which recently invested in Bitcoin and said it would accept Bitcoin as payment for its cars.

Bitmain Announced The Release Of New ASIC Miner For Ethereum Mining

Jakkk
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Bitmain Announced The Release Of New ASIC Miner For Ethereum Mining

The manufacturer of mining equipment Bitmain will release a new model of the device designed for mining the second-largest cryptocurrency Ethereum.


The AntMiner E9 model is compatible with the Ethash algorithm. The company did not disclose detailed technical specifications and the cost of the device.

 

According to journalist Colin Wu, Bitmain’s AntMiner E9 hashrate could be around 1,500 MH/s. In February 2021, the revenues of Ethereum miners reached a new record, exceeding the $1 billion mark. More than half of this amount came from transaction fees.

 

In March, the miners of the second largest cryptocurrency by capitalization earned $1.37 billion. The share of transaction fees in the revenue structure was 47%.

Recall that on April 15, the Berlin hard fork took place on the main Ethereum network on block #12 244 000. Four proposals have been implemented, including changes to the gas cost calculation algorithm (EIP-2565 and EIP-2929), as well as new transaction types (EIP-2930 and EIP-2718).

Berlin did not include EIP-1559, which implies burning part of the transaction fees. Its activation was planned in the London hard fork, which is scheduled to take place in July.

Binance Burned $600 Million BNB Making A Record In Dollar Terms

Mark Brennan
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Binance Burned $600 Million BNB Making A Record In Dollar Terms

Cryptocurrency giant Binance has announced that it has burned 1,099,888 BNB for the first quarter of 2021, equivalent to almost $600 Million, setting a record in dollar terms.

Binance burns Binance Coin every quarter of year. The burning process covering the first quarter of this year was in block 157215916.



A transaction fee of 0.002 BNB was paid for the 15th burning operation in which more than 1 million BNB were burned.

Visit Binance explore:

https://explorer.binance.org/tx/935071F4B3EA9BC0104C23DEAEF5919BD0C0B5AD9E780701FC0547E575E1D52E

It makes almost 600 million in dollars.

In two years Binance burned more than 2.2 million BNB. The number of tokens burned in the first quarter of 2021 are 1,099,888, that makes a a new record in dollar terms.

 

 

Dogecoin Marketcap Surpasses Southwest Airlines And Rumors Arise Robinhood’s Restricting Dogecoin Trading

Mark Brennan
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Dogecoin Marketcap Surpasses Southwest Airlines And Rumors Arise Robinhood’s Restricting Dogecoin Trading

The market capitalization of the  Dogecoin (DOGE) which rose more than 300% this week surpass Southwest Airlines, the world’s largest low-cost carrier airline.


Dogecoin reached a new all-time high of $ 0298 at 2: 35 a.m. Universal Time Coordinated (UTC) on the Binance exchange, and its market capitalization exceeded $39 billion.

The cryptocurrency inspired by the Internet meme “Doge” remains significantly larger than Litecoin (LTC) and Uniswap (UNI), firmly holding the eighth place on CoinMarketCap.

The monster’s latest move was prompted by another tweet from Tesla CEO Elon Musk.

 

The WallStreetBets Reddit group, which temporarily lifted the ban on discussing Dogecoin could also contribute to the resurgence of Dogecoin.

DOGE grew by more than 5,000 percent in 2021, dwarfing Bitcoin’s seemingly impressive gains over the same time period.

Rumors Arise As Robinhood’s Restricting Dogecoin Trading

The popular cryptocurrency and stock trading platform Robinhood has found itself at the center of controversy.

There are rumors on social media that Robinhood is restricting Dogecoin (DOGE) trading on its platform just as it did with GameStop (NSE: GME) earlier this year in January 2021.

However, Robinhood clarified in a tweet:

 

Social media rumors began to spread when Dogecoin (DOGE) investors failed to cash out from their Robinhood trading accounts. As most users were willing to lock in profits as DOGE surged more than 250% in just the last three days.

Cryptocurrency Performance Report Of The First Quarter Of 2021

Albert Brown
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Cryptocurrency Performance Report Of The First Quarter Of 2021

CoinGecko, one of the largest data sources in the industry, published the first quarter performance of some of the biggest cryptocurrencies. According to Coingecko, Terra (LUNA) and Pancakeswap (CAKE) gained 2900% in three months.

CoinGecko published its first quarter report today, divided the major crypto coins into four different categories and evaluated their performance from January 1 to March 31.

Categories with 5 tokens in each consisted of DeFi tokens, centralized exchange tokens, decentralized exchange tokens, and the largest market cap cryptocurrencies.

 


DeFi Tokens

Uniswap (UNI)

  • January: +241%
  • February: +26%
  • March: +27%
  • Year-to-date: +442%

ChainLink (LINK)

  • January: +101%
  • February: + 9%
  • March: +19%
  • Year-to-date: +159%

Terra (LUNA)

  • January: +125%
  • February: +265%
  • March: +248%
  • Year-to-date: +2761%

AAVE

  • January: +239%
  • February: +17%
  • March: +9%
  • Year-to-date: +332%

Synthetix Network Token (SNX)

  • January: + 140%
  • February: + 8%
  • March: -5%
  • Year-to-date: + 145%

Central Exchange Tokens

Binance Coin (BNB)

  • January: +18%
  • February: +374%
  • March: +44%
  • Year-to-date: +710%

Crypto.com (CRO)

  • January: +6%
  • February: +117%
  • March: +60%
  • Year-to-date: +268%

OKEx (OKEX)

  • January: -26%
  • February: +172%
  • March: +9%
  • Year-to-date: +118%

FTX Token (FTT)

  • January: +92%
  • February: +133%
  • March: +54%
  • Year-to-date: +591%

Huobi Token (HT)

  • January: +57%
  • February: +100%
  • March: +14%
  • Year-to-date: +257%

Decentralized Exchange Tokens

Uniswap (UNI)

  • January: + 241%
  • February: + 26%
  • March: + 27%
  • Year-to-date: + 442%

PancakeSwap (CAKE)

  • January: + 222%
  • February: + 372%
  • March: + 94%
  • Year-to-date: + 2843%

THORChain (RUNE)

  • January: + 256%
  • February: + 48%
  • March: -3%
  • Year-to-date: + 412%

SushiSwap (SUSHI)

  • January: +207%
  • February: +21%
  • March: +82%
  • Year-to-date: +578%

0x (ZRX)

  • January: +97%
  • February: +73%
  • March: +56%
  • Year-to-date: +431%

Largest Cryptocurrency By Market Cap

Bitcoin (BTC)

  • January: +14%
  • February: +36%
  • March: +31%
  • Year-to-date: +103%

Ethereum (ETH)

  • January: + 78%
  • February: + 8%
  • March: + 35%
  • Year-to-date: + 159%

Binance Coin (BNB)

  • January: +18%
  • February: +374%
  • March: +44%
  • Year-to-date: +710%

Cardano (ADA)

  • January: + 90%
  • February: + 77%
  • March: -9%
  • Year-to-date: +555%

Polkadot (DOT)

  • January: + 72%
  • February: + 107%
  • March: + 10%
  • Year-to-date: + 294%

Main Points Of CoinGecko Report

  • Cryptocurrency Market Capitalization broke past $2 trillion.
  • Bitcoin continues to soar as it broke its previous ATH to $62,907 in April 2021.
  • In Q1 2021 alone, CAKE and LUNA rose up to 2,900% return.
  •  BSC’s TVL three-fold to $20 billion within 3 months, CAKE leading the way.
  •  PancakeSwap became the second-largest DEX .
  •  NFT flipped DeFi in term of Google Trends.
  •  CEXs spot trading volume recorded $1.44 trillion, 59% of which belongs to Binance.

 

For The First Time Grayscale Surpassed $50 Billion In Cryptocurrency Assets Under Management

Mark Brennan
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For The First Time Grayscale Surpassed $50 Billion In Cryptocurrency Assets Under Management

The total amount of assets in the Grayscale Crypto Investment funds reached $50.6 billion. $41.4 billion of the total amount is invested in the Bitcoin trust. The value of the Ethereum-based fund is $7.4 billion.

 

In total, the company manages 14 trusts, five of which Grayscale launched in March 2021. The new products provided the opportunity to invest in Basic Attention Token, Chainlink, Filecoin, Litecoin and Livepeer.



At the beginning of the year, the firm liquidated the XRP-based trust, substituted by Litecoin (LTC) trust . The decision was influenced by the lawsuit of the US Securities and Exchange Commission (SEC) against Ripple.

Grayscale also intends to convert a Bitcoin trust into an exchange-traded fund (ETF).

Grayscale CEO Michael Sonnenshein tweeted that he believes the Grayscale Bitcoin Fund, or GBTC, is likely to surpass the GLD fund by market cap in a few months.

Grayscale doesn’t just deal in Bitcoin, with almost 20% of the company’s AUM spread across a dozen other cryptocurrencies including Ethereum ($7.4b), Litecoin ($405m), Ethereum Classic ($267m), and Bitcoin Cash ($234m). In the last month, five more trusts were created — Decentraland’s MANA ($18.6m), Livepeer ($13m), Filecoin ($7.7m), Basic Attention Token ($4.8m) and Chainlink ($4.5m).

Binance List the Coinbase Stock Token (COIN)

Mark Brennan
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Binance List the Coinbase Stock Token (COIN)

Binance will list the Coinbase Stock Token (COIN) following Coinbase’s official listing on NASDAQ, COIN/BUSD trading pair will be open. Users will be able to trade fractional Coinbase stock on the Binance exchange.


Binance Stock Tokens are zero-commission digital tokens fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Holders of stock tokens qualify for economic returns on the underlying shares, including potential dividends.

 

Changpeng Zhao said that many exchanges refuse to list Binance Coin thinking BNB as a competitor. But Binance will not miss out on good volumes coins that are loved by crypto community.

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to be listed on April 14.

According to the official publication of Nasdaq, the reference stock price is set at $250 per Share.

Nasdaq has given Coinbase’s stock, COIN, a reference price of $250. The stock will officially be listed today, April 14.

Read More: https://thecryptobasic.com/2021/04/14/coinbase-stock-hits-the-market-and-gets-reference-stock-price-of-250-from-nasdaq/

6 Blockchain Business Use Cases You Should Know

Jakkk
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0
6 Blockchain Business Use Cases You Should Know

The potential of the distributed ledger technology (DLT) — an umbrella term of which blockchain is the most popular kind — is enormous. Businesses can use blockchain to secure data, handle supply management, fight copy fraud, automate processes, and so on.


Blockchain may have a major impact on businesses thanks to its unique capabilities to enable transactions and operations without a single authority and unnecessary intermediaries. Many companies are successfully integrating the DLT.

2017 and 2018 were the years of blockchain business trials, as many traditional companies were testing it for various business processes. Today, this technology is already an indispensable part of many businesses.

In the present article, we will go through the six most popular and successful use cases. For the sake of diversity, we’ll discuss a use case for every major blockchain platform available out there.

  1. Moderna to Use Blockchain for Vaccine Distribution (IBM Blockchain)

IBM Blockchain is one of the most reliable and widely used blockchain platforms aimed at enterprises. It is used in supply chain management, healthcare, banking, media, and other sectors.

At the beginning of March 2021, biotech firm Moderna, whose mRNA-based COVID vaccine has been approved in the US, the UK, and many other countries, said that it would apply DLT and AI in the vaccine distribution.

Blockchain will help the company provide vaccine traceability. This will enable governments and healthcare provides to check the current status of specific batches as they move through the supply chain.

Moderna is already using IBM’s Digital Health Pass, a vaccine and COVID test credentials verification system that also leverages blockchain.

2. ING, BNP Paribas, Citi, Societe Generale, Shell, Others Use Ethereum for Commodities Trading (Ethereum)

While Ethereum is powering most of the Decentralized Finance (DeFi) space and a great number of DLT crypto assets, the network is used by traditional businesses as well. More than two years ago, a consortium comprising banks and other major companies launched komgo SA, a commodity trading platform that relies on Ethereum.

komgo SA is a platform that speeds up the flow of physical commodity operations. It has two main products: one for KYC (know your customer) processes and another one for digital letters of credit.

ING, one of the key members of komgo SA, is also using Ethereum as part of a payment settlement consortium called Fnality.

Ethereum introduced smart contracts and many other features aimed at enterprises. The Enterprise Ethereum Alliance (EEA) now has over 200 member companies, including JP Morgan, Samsung Group, Mastercard, and Microsoft.

The Enterprise Ethereum Alliance (EEA) now has over 200 member companies, including JP Morgan, Samsung Group, Mastercard, and Microsoft

https://media.consensys.net/6-questions-to-ask-when-considering-blockchain-solutions-for-enterprise-10616a0c63c4

3. SIX Stock Exchange Uses DLT Solutions for Stock Trading, Settlement, and Tokenization (R3’s Corda)

SIX Group, which operates the Swiss Stock Exchange, launched SIX Digital Exchange in 2019, which relies on R3’s Corda Enterprise platform. The blockchain solution is used to run its digital asset trading platform, which operates with tokenized shares. With the help of Corda, the digital exchange is clearing, settling, and providing custody solutions simultaneously.

R3 also runs a consortium that includes many banking giants and other companies testing its Corda platform. Besides the SIX Group, it also includes Barclays, BNP Paribas, Deutsche Bank, HSBC, UBS, and Credit Suisse.

4. Walmart Uses Blockchain for Food Supply Chain (Hyperledger Fabric)

Retail giant Walmart has been using DLT solutions for its food supply chain management. For example, it relies on Hyperledger Fabric’s blockchain infrastructure to trace the origin of over 25 food products from five different suppliers. Initially, Walmart tested the system with its partner IBM. During the trial, the retailer traced mangos sold in the US stores and pork sold in its China stores.

Blockchain is very popular in supply chain management, as it helps businesses monitor and trace the products conveniently.

Hyperledgeris hosted by Linux Foundation and is one of the oldest open-source blockchain efforts. It manages a consortium comprising over 180 companies.

Hyperledger Fabric’s blockchain infrastructure

https://www.hyperledger.org/learn/publications/walmart-case-study

5. Italian Copyright Collection Agency SIAE Uses NFTs to Manage Authors’ Rights (Algorand)

Some of the most interesting DLT use cases relate to non-fungible tokens (NFTs), which are booming right now. SIAE (Società Italianadegli Autoried Editori), Italy’s most dominant copyright collecting agency, uses Algorand’s blockchain to create NFTs representing the rights of authors who are members of the organization. In this way, it aims to fight copyfraud and other forms of copyright infringement as well as help authors monetize their work.

SIAE, which was founded more than 130 years ago, has over 95,000 member authors, most of whom are composers, music authors, book authors, and publishers.

In mid-March, SIAE issued more than 4 million NFTs representing the rights of its member authors. The agency picked Algorand as the main blockchain infrastructure for its databases of millions of authors’ rights. While NFTs are surging in popularity thanks to crypto art, SIAE has been collaborating with Algorand since 2019 for the project.

6. Fundraising Platform Republic Uses Blockchain-Based Authorization and Authentication System (AIKON)

Blockchain business applications are still quite sophisticated, as most companies don’t focus on user experience, which hinders the technology’s wider adoption. To solve this, AIKON’s ORE ID is helping businesses developing blockchain applications onboard their existing client base through a familiar process.

Fundraising platform Republic, which helps startups secure capital from institutional and individual investors, is using ORE ID to onboard its non-technical retail investors to its blockchain application that revolves around Republic Note — a proprietary profit-sharing digital security token. On a side note, Republic is building its blockchain application on Algorand, but it uses AIKON’s authentication platform for the onboarding process and identity management.

ORE ID is a blockchain authentication system that helps users access blockchain applications by email, phone, or social media accounts.

Republic relies on AIKON’s passwordless authentication solution to enable users who are not tech-savvy to access blockchain DApps in one click.

The Final Note

Some notable mentions of major enterprise-oriented blockchain platforms that were not discussed in the article are Ripple, EOS, and JPMorgan’s Quora, which is a version of Ethereum.

In conclusion, blockchain, along with artificial intelligence (AI), the Internet of Things (IoT), augmented reality, and cloud, is spurring the fourth industrial revolution, which revolves around speed, automation, cyber-physical systems, decentralization, and many things with the smart prefix.

Blockchain is about to transform businesses the same way the Internet did. In a few years, the technology will be omnipresent.

Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

Mark Brennan
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Europe’s Largest Digital Asset Investment Firm CoinShares Launches XRP Exchange Traded Product (ETP)

CoinShares, a major British cryptocurrency investment company, has announced it plans to list XRP (Ripple) exchange-traded fund (ETP) on the SIX Swiss Exchange.

This ETP product will be listed as a ticker symbol called “XRPL”. The listing date is not specifically mentioned. XRPL will initially be listed on the regulated SIX Swiss Exchange. Each unit of XRPL is backed with 40.0 XRP at launch, providing investors with passive exposure to XRP.


 

 

CoinShares is Europe’s largest cryptocurrency investment company, managing crypto assets worth about 5.4 Billion USD. Few days before Litecoin ETP was announced.

Read details: CoinShares Launches Physically Backed Litecoin ETP

This is not the first time XRP ETP product will be launched. In 2019, Amun AG of Switzerland launched an ETP called “AXRP”.

Coinshares XRP ETP Details:

  • Product Name: CoinShares Physical XRP
  • ISIN: GB00BLD4ZN31
  • Ticker: XRPL
  • Base Currency: USD

Head of Product Townsend Lansing commented:

“We excited are bring XRP to our physically-backed ETP platform. At CoinShares, we build innovative products in response to demand from our clients. Once we determine that a professional-calibre product is feasible, and it appears that demand exists to make a liquid market for trading the product, we bring the product to fruition leveraging the extensive trading, custody, and compliance capabilities of the CoinShares Group.”

CoinShares is Europe’s largest digital asset investment house, managing billions of assets on behalf of a global client base. CoinShares’ investment products provide exposure to Bitcoin (BTC), Ethereum (ETH) and now, Litecoin (LTC) and are available to eligible institutional and individual investors throughout Europe.

Merchant token ico

In January 2021, CoinShares released the first such bitcoin-based product. The tool received the ticker BITC.

CoinShares is believed to have announced the launch of XRP ETP as a global asset in compliance with national regulatory policies.

Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Mark Brennan
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Coinbase Stock Hits The Market And Gets Reference Stock Price of $250 from Nasdaq

Nasdaq has released the figures for the reference stock price of Coinbase, the largest cryptocurrency exchange in the United States, which is scheduled to be listed on April 14.

According to the official publication of Nasdaq, the reference stock price is set at $250 per Share.


Nasdaq has given Coinbase’s stock, COIN, a reference price of $250. The stock will officially be listed today, April 14.

coinbase reference stock price of $250

Nasdaq has given Coinbase a reference stock price of $250, according to new information on the San Francisco-based exchange’s listing. Nasdaq listed the stock on April 14, after weeks of high anticipation.

The reference price was given as a result of regulation, which determines price when there has not been sustained trading in a private market. The exchange has been given a valuation of $90 billion, based on prior private sales.

Before Coinbase went public, it traded on the Nasdaq private market for about $343.5. There is a clear difference compared to the reference stock price of $250. Cryptocurrency derivatives exchange FTX traded Coinbase shares for over $ 600.

Expert Opinion

Since Coinbase listing is the first case of any crypto exchange listing on Nasdaq, it is attracting attention not only in the cryptocurrency industry but also in Wall Street finance.

Mike McGlone, senior commodity strategist at Bloomberg, believes that Coinbase listings could have as much impact on the market as Tesla’s Bitcoin buying news as a tailwind for Bitcoin (BTC) to rise to $70,000.

 

CNBC financial show host Jim Cramer anticipates the future of Coinbase, saying:

 

John Street Capital analyzes the financial report released by Coinbase. It points out that it is a company that is larger than the user base of Cash App and Venmo and is already making a big profit.

 

Prior to listing on the Nasdaq, Coinbase granted more than 1,700 employees 100 shares per person.

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