Day: November 9, 2021

Ripple Launches New Product That Allows Financial Service Firms To Offer Crypto Trading

by Dailyhodl

Ripple Labs is moving towards a “crypto-first future” with a new product allowing traditional financial institutions to offer cryptocurrency services to their customers.

In a new press release, the makers of XRP announced their newest product called the Ripple Liquidity Hub.

“[It is] a groundbreaking new way for enterprises to easily and efficiently source digital assets from the broader crypto market. 

As a crypto liquidity platform built for the enterprise, it will unleash the potential to access deep liquidity within markets, accelerating the shift to crypto.”

In a statement to Yahoo Finance, RippleNET GM Asheesh Birla says,

“Customers are coming to banks asking, ‘How can we buy Bitcoin [BTC] or digital assets?’ This is a solution that enables banking customers to do that.”

Ripple’s press release goes on to say,

“While the XRP Ledger and XRP are and will remain a native part of our tech stack, we at Ripple believe that achieving interoperability is key to unlocking crypto’s true potential.

Because of this, Ripple Liquidity Hub will initially support BTC, ETH [Ethereum], LTC [Litecoin], ETC [Ethereum Classic], BCH [Bitcoin Cash] and XRP (availability will vary by geography) with plans to add additional digital assets over time. 

In the future, Ripple plans to add functionality such as staking and yield-generating functionalities.”

Ripple is currently being sued by the U.S. Securities and Exchange Commission (SEC) under allegations that it sold XRP as an unregistered security.

The SEC announced the lawsuit in December 2020, crashing XRP’s price. Despite the unresolved nature of the charges, XRP is currently trading at $1.25, up over 500% since the initial lawsuit fallout.

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sergey Nivens

Source

Tagged : / / / / / /

Crypto Analyst Benjamin Cowen Updates Bitcoin Forecast After Top Crypto Reaches New Record High

by Dailyhodl

With Bitcoin reaching new all-time highs above the $68,000 mark, crypto analyst Benjamin Cowen says traders should consider one factor when looking at BTC’s chart.

In a new strategy session, the closely followed analyst tells his 600,000 YouTube subscribers that while Bitcoin already put in an all-time high (ATH) late last month, this week’s breakout represents the first true record high since April when taking the US dollar money supply (M2) into account.

Cowen says the amount of US dollars in circulation should be considered when trying to predict the future price of Bitcoin, and the rapidly expanding money supply suggests that BTC might have more bullish potential than traders realize.

“The whole idea is, you might as well take into account the money supply. Because we know if trillions are being printed… then perhaps we should consider that in what is theoretically obtainable for Bitcoin.

Maybe that means it can push even higher because we have a lot more money in the system. If everyone’s going to get an ‘altcoin’ USD [US dollar] airdrop of $1,200 way back when, then we should consider that some of those people might go buy Bitcoin with it.

Bitcoin has now put in a new all-time high when accounting for the money supply.”

The analyst says that although it may be easy to predict Bitcoin going to $100,000 without giving a specific timeline, he now believes it will likely break the six-figure mark this market cycle.

“The general direction is up. I do believe Bitcoin will make it to $100,000. I do believe it will make it there this market cycle.

I don’t think we have to wait many years for Bitcoin to make it to $100,000 at this point. I would think we would make it there this market cycle.

But I also would say I think we’re going to go above $100,000. I don’t even think $100,000 is the top.”

[embedded content]

o

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/MoVille

Source

Tagged : / / /

AMC Theatres Says Customers Will Soon Be Able To Pay With Shiba Inu

by NEWSBTC

Shiba Inu has begun to progress to the next stage of its evolution, being the payments space. The meme coin is taking the same route as its predecessor to being a payment token for facilitating small transactions. It has now made it into AMC Theatre’s list of cryptocurrencies that will be accepted for purchases in the coming months.

This will provide what will be a utility for the meme coin going forward. Shiba Inu which was created with no utility prospects, moved only by the power of internet hype, will see a real-world application soon.

Related Reading | AMC Theaters Considers Accepting Shiba Inu As Payment Amid Growing Interest

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

AMC Announces Shiba Inu Payments

AMC CEO Adam Aron had published a poll on Twitter on October 29th to poll the community on their thoughts on Shiba Inu. The poll was similar to the poll carried out for SHIB rival Dogecoin before the company had implemented Dogecoin payments for tickets and concessions. The poll garnered over 150,000 votes, with 81.4% of the voters voting in favor of accepting SHIB.

Shiba Inu price chart from TradingView.com

Get 110 USDT Futures Bonus for FREE!
SHIB price maintains low momentum | Source: SHIBUSD on TradingView.com

Fast forward to November and AMC held its quarterly earnings call on Monday. The earnings had more than 10,000 people listening, where CEO Adam Aron announced that the theatre chain would be accepting Shiba Inu as a payment method in the future.  Theatre-goers would be able to purchase tickets and concessions as they would be able to with other cryptocurrencies.

The company, however, did not reveal a time frame for when SHIB payments would be accepted on its platform, but it is expected that the meme coin will go into effect alongside cryptocurrencies scheduled to be implemented for payments in 2022.

AMC Growing Its Lineup

The addition of Shiba Inu as an expected payment method has brought the total to six cryptocurrencies set to be accepted at the theatre chain. CEO Adam Aron had previously disclosed that the entertainment giant was working to implement crypto payments for its services. Initially, bitcoin was the only cryptocurrency announced. But as time went on, other cryptocurrencies were added to the lineup.

Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens

Ethereum, Bitcoin Cash, and Litecoin were further added to the list to help provide more options for users when paying with cryptocurrencies. Then in October, Aron announced that the theatre chain would begin accepting Dogecoin, bringing the total to five.

Dogecoin payments were implemented after the CEO carried out a poll that saw the overwhelming majority voted for Doge to be added to the lineup. On October 5th, Dogecoin payments were officially announced, allowing users to purchase gift cards of up to $200 a day using the cryptocurrency.

Featured image from CNBC, chart from TradingView.com

Source

Tagged : / / / / / / / /

Ethereum Name Service Airdrops DAO Token, ENS Price Up 160% After Launch

by CryptoPotato

Ethereum Name Service (ENS) – a popular system for decentralized naming – has just airdropped its new governance token on existing name registrants. Twitter is bustling with excitement as some name holders rake in incredible gains from its fast appreciating value.

The Purpose of ENS Token

On November 1st, Brantley.Eth – director of operations at ENS – announced and explained the recent airdrop. In the name of decentralization, he said the team would be “passing ENS governance over to the community” through their new governance token, ENS. Starting then, community members could start applying to be ENS delegates.

“Specifically, we wish to have the ENS root multisig pass over control of the existing ENS treasury, its future funds, and control of the .ETH registrar contract that is in charge of the pricing and registration mechanism for .ETH names,” reads the post.

People didn’t need to apply to receive their ENS airdrop, however. The governance tokens were airdropped to those who had purchased at least one ENS domain. Brantley encouraged holders that had no intention of voting independently to offer their tokens to these delegates. Over Twitter, he confirmed later that over 137k accounts were eligible for the airdrop, with no “investors” to take any cut of them.

ENS Upon Launch

The token then launched a week later, on Monday, beginning at an $18 valuation according to CoinGecko. It then began a steady climb throughout the day, peaking at $54. It has since drifted back to $47, which is still 160% up from where it started.

So far, the token has a market cap of $627 million, meaning more than half a billion dollars has been awarded to eligible accounts. Users all over Twitter have been celebrating the value of the tokens they’ve received. For example, Tonyherrera.eth said he was eligible for 1500+ tokens upon launch, now equal to over $60 000.

ADVERTISEMENT



Ethereum Name Service is designed to attach human-readable names to cryptocurrency addresses and other machine-readable identifiers. ENS is meant to be the Web 3.0 equivalent Domain Name Service (DNS), but with different capabilities.

SPECIAL OFFER (Sponsored)


Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:






Source

Tagged : / / / / /

Bank of England Says CBDC Could Launch by 2030

by Cryptobriefing

Key Takeaways

  • The Bank of England and HM Treasury have announced the next steps in exploring plans for a CBDC stablecoin.

  • This will involve a consultation in 2022, which will decide whether to begin a several-year-long development phase.

  • The development phase, if successful, could lead to the launch of a CBDC between 2025 and 2030.




Share this article



The Bank of England and HM Treasury (HMT) have announced that they will continue to explore a CBDC or national stablecoin.

Consultation Will Begin In 2022

HMT and the Bank of England will launch a consultation in 2022 to assess the case for a U.K. central bank digital currency (CBDC).

Though the two entities have not yet made a final decision, this consultation will decide on whether a development process can begin in the future. This development phase would involve the creation of a technical specification and design testing.

That phase would also last several years. If it were successful, it would lead to the launch of a CBDC between 2025 and 2030.


The Bank of England writes that a CBDC would serve as “a new form of digital money,” and that it would be used by individuals and businesses “for their everyday payments needs.” It would not replace cash and bank deposits but would work alongside them.

The CBDC would be issued by the Bank of England itself. Presumably, it would be tied to the value of the British pound sterling, though this is not explicitly stated in the announcement itself.

Earlier this year, the Bank and HMT created a joint task force to explore the possibility of a CBDC, which led to today’s news.

Other Countries Are Also Exploring CBDCs

England is one of several countries that are exploring the possibility of a CBDC. Most notably, China has made significant progress with its own CBDC, even adding support at many ATMs this year.



Other countries that are examining or launching CBDCs include the United States, Nigeria, Canada, Ghana, and others.

Approximately 89 countries are currently exploring the technology, according to the research center Atlantic Council.

Disclaimer: At the time of writing this author held less than $100 of Bitcoin, Ethereum, and altcoins.

This news was brought to you by Phemex, our preferred Derivatives Partner.

Phemex


Share this article



The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.



BIS, IMF, World Bank Planning for Interoperable CBDCs

A joint committee of the BIS Innovation Hub, the International Monetary Fund (IMF), and the World Bank has proposed keeping interoperability in mind while designing central bank digital currencies (CBDCs)…

China, UAE’s Central Bank Take on SWIFT With Global CBDC Payment…

China and the UAE’s central bank have joined a cross-border payment network called the “multiple CBDC (m-CBDC) bridge.”  Powering Cross-Border CBDC Payments The Digital Currency Institute (DCI) of the People’s…

How Bumper’s Price Protection Helps DeFi Users Earn Yield on Their A…

Is it possible to build a DeFi protocol that counters crypto’s inherent volatility while also letting holders enjoy the upshot of their assets? Bumper Finance is a DeFi price-protection protocol that aims…

China Reports First CBDC Money Laundering Case

Chinese officials have detained 11 suspects in the first-ever money laundering case involving its central bank digital currency (CBDC). 11 Arrested For Illicit Use of Digital Yuan Chinese investigators have…



Source

Tagged : / /

Democratic challenger to crypto-friendly senator’s seat is interested in space

by Cointelegraph

Morgan Harper, a former senior advisor at the Consumer Financial Protection Bureau, is coming out as ‘crypto curious’ in her race to be the Democratic nominee for one of Ohio’s United States Senate seats.

In a Tuesday thread on Twitter, Harper said she was interested in the possibilities Bitcoin (BTC) and other cryptocurrencies could mean for policy in Ohio. According to the Democratic candidate, Bitcoin can take the place of many functions of traditional banks by passing on “the wealth of the network” to all users rather than a handful of large shareholders.

“There are crypto projects out there that want to compete with basically every facet of what a bank or social media company does,” said Harper. “Their basic model is more inclusive than a corporation. I’ve heard anecdotes & seen some stats about how many young people & people of color use #bitcoin, which makes sense — historically, we’ve been locked out of traditional forms of investment.”

The 38-year-old Harper added she would be “in learning mode” on the crypto space and encouraged any of her roughly 24,000 followers to submit comments on how lawmakers might “keep bad actors out while encouraging innovation.”

Officially announcing her candidacy for the U.S. Senate on Aug. 18, Harper is running for the Democratic nomination against House Representative Tim Ryan, treasurer of the Cuyahoga Soil and Water Conservation District Demar Sheffey and others. If chosen to be the Democratic candidate and elected, she would serve with fellow Democrat Sherrod Brown, up for re-election in 2024.

Harper could potentially replace Senator Rob Portman, who announced in January he would not be seeking re-election due to it being “harder and harder to break through the partisan gridlock and make progress on substantive policy.” During his time in office, Portman has been outspoken in certain pieces of legislation proposing regulations on cryptocurrencies. In April, he suggested a bill to better define reporting crypto for U.S. taxpayers.

Related: House passes $1T infrastructure bill with crypto tax for Biden’s approval

In the recent debate on infrastructure, Senator Portman initially backed an amendment put forth by his colleagues that suggested striking the definition of brokers in the bill to no longer include developers, transaction validators and node operators. The infrastructure bill passed both the House of Representatives and the Senate without additional clarification on crypto brokers and is currently awaiting approval from President Joe Biden.