Tag: Xtzusd

Societe Generale Issues a Security Token on the Tezos Blockchain

by CryptoPotato

The third-largest bank in France, as well as one of the leading banks in the whole world, Societe Generale, has issued its first structured product as a security token. The bank has chosen Tezos’ blockchain as the underlying network.

  • Following the first covered bond security token issuance for 100 million euros on Ethereum’s blockchain back in April 2019, Societe Generale issued its first structured product as a security token registered on the Tezos public blockchain.

  • According to a press release shared with CryptoPotato, the securities have been fully subscribed by Societe Generale Assurances.

  • Per the release, the “transaction completes a new step in the development of Societe Generale  Forge,” which is a regulated subsidiary of Societe Generale Group.

  • The aims of the latter are to offer crypto asset structuring, issuing, exchange, and custody services to its professional clients by 2022.

  • The issuance has been performed in accordance with the best market practices, and it showcases the regulatory, operational, and legal feasibility of issuing complex financial instruments on public blockchains.

It leverages on this disruptive technology which enables increased efficiency and fluidity of financial transactions: unprecedented capacity of product structuration, shortened time-to-market, automated corporate actions, increased transparency and speed in transactions and settlements, as well ass reduced cost and number of intermediaries. – Further reads the release.

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Tezos (XTZ) Price up 25% in a Week Following Tenderbake Testnet Release

by CryptoPotato

Tezos saw notable gains over the past seven days as the price of its native cryptocurrency, XTZ, surged by around 25%. 

This comes amid news of the release of the Tenderbake testnet – a new algorithm adapted to handle an arbitrarily large number of validators. 

Tezos Tenderbake – What is it All About?

The update was introduced in a whitepaper called Tenderbake – A Solution to Dynamic Repeated Consensus for Blockchains. 

According to the official Medium release, the algorithm is a product of global collaboration between academic researchers and engineers, and it was also supported by the formal verification of Theorems 5 and 6 in the paper. 

Tenderbake takes advantage of the classical style of BFT consensus algorithm adapted to handle n arbitrarily large number of validators. In this, it’s different from the current Emmy+ algo that Tezos runs, and replacing them represents a major change to the network, bringing some notable advantages. 

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Described as a major step forward, with Tenderbake, a block that has just been appended to the chain of some node is known to be final as soon as two additional blocks appear on top of it, irrespective of network latency or chain splits. Referred to as deterministic finality, this means that chain forks will resolve after just two blocks, regardless of chain splits or network latency. 

According to the team, this might be the biggest update on the horizon for Tezos in the past three years. 

XTZ Price Reacts Positively

Being in a wild bull market, the price of the native cryptocurrency of Tezos, XTZ, spiked positively on the announcement of the Tenderbake testnet. 

In the past seven days alone, XTZ is up by 25%, bringing the total by-weekly increase to over 50%. In the past month, the cryptocurrency increased its dollar value by as much as 60%. 

xtzusd_chart
XTZ/USD. Source: TradingView

Data from CoinGecko positions Tezos as the 32nd-largest project by means of total market capitalization, sitting on a formidable $4.89 billion. 

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Bitcoin Explodes Above $60K: Ethereum & BNB Break ATHs

by CryptoPotato

After failing to overcome its round-numbered nemesis of $60,000 for weeks, bitcoin has finally broken above it. Most alternative coins are also well in the green, with ETH and BNB surging to new ATH records at just shy of $2,200 and $485, respectively.

Bitcoin Skyrockets Above $60K

Bitcoin was unable to continue north following its all-time high in mid-March at $61,800. Just the opposite, the cryptocurrency reversed its trajectory and a few weeks later even threatened to dump below $50,000.

Although it tried on several occasions to reclaim $60,000, it failed, and every rejection drove it further south. However, the situation has changed in the past 24 hours.

It all seemed somewhat familiar as BTC struggled around $58,000 when the bulls took control and initiated an impressive leg up. The asset gained over $3,000 in a matter of a few hours and surged to roughly $61,200 (on Bitstamp).

Despite retracing slightly since coming just $600 away from its all-time high record, the primary cryptocurrency still stands above the coveted $60,000 level.




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Naturally, its market capitalization also benefited, which is now well above $1.1 trillion, while the market dominance has remained stuck around 55%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

New ATHs for BNB and ETH

Most of the altcoin market outperformed its leader in the past several days. With BTC’s notable surge now, some have joined the race and registered new records.

Ethereum leads with a 4.5% surge on a 24-hour scale. As a result, the second-largest cryptocurrency has broken its previous ATH by peaking at nearly $2,200 for a new record.

Binance Coin, arguably the best top 10 performer in the past week or so, has also doubled down on its bull run. BNB has exploded by more than 14% since yesterday and painted a new ATH at $485 minutes ago. Just six days ago, the asset had corrected to about $310.

Ripple (4%), Polkadot (3%), Cardano (2%), Uniswap (1.5%), Litecoin (3%), and Chainlink (0.5%) are also in the green from the top ten.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident for KuCoin Token (40%), Waves (28%), 0x (18%), Basic Attention Token (18%), PancakeSwap (16%), VeChain (15%), Filecoin (14%), Tezos (11%), and Avalanche (10%).

Ultimately, the cumulative market capitalization of all digital assets has also gone for a new record at nearly $2.1 trillion after adding more than $200 billion in two days.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Altcoin Season 2021 Booming as Bitcoin Dominance at 1-Year Low (Market Watch)

by CryptoPotato

After dipping below $57,000, bitcoin initiated another leg up but failed to challenge the coveted $60,000 price line. In contrast, most alternative coins have surged in value, including a new ATH for Binance Coin and a massive increase for XRP, which has further decreased BTC’s dominance over the market, which is currently at a one-year low.

Altcoins in Green; BNB Eyes $400

As reported yesterday, most larger-cap alternative coins were somewhat stagnant, except for XRP. Ripple’s native cryptocurrency had a substantial double-digit gain, and the asset has only doubled down on its increase in the past 24 hours.

Another impressive surge of 27% has taken XRP to a yearly high of over $0.90 reached minutes ago. It’s worth noting that this is XRP’s highest level since mid-2018.

Another notable gainer from the past 24 hours is Binance Coin. BNB has surged by 12% and marked a new all-time high well above $380. Ethereum (5%), Polkadot (5%), Cardano (3%), Uniswap (4%), Litecoin (10%), and Chainlink (6%) are also in the green.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Further gains are evident from Stacks (103%), Bitcoin Gold (35%), Fantom (25%), Neo (19%), Tezos (19%), Ontology (17%), Ethereum Classic (16%), Avalanche (15%), Qtum (12%), Huobi Token (12%), and more.




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Ultimately, the cumulative market capitalization of all cryptocurrency assets also registered a new record yesterday by breaking above $2 trillion for the first time.

Bitcoin’s Dominance Keeps Suffering

The primary cryptocurrency is also ahead on a 24-hour scale price-wise. Bitcoin dropped to below $57,000 yesterday but has also initiated a notable leg up.

In the following hours, BTC added roughly $3,000 of value. This resulted in reaching an intraday high of approximately $59,500 (on Bitstamp).

However, the asset couldn’t proceed any higher. The bears took control and pushed it down by several hundred dollars, and BTC currently stands around $59,000.

Bitcoin’s inability to break above $60,000 and head into uncharted waters continues to cost it some of its market dominance. The metric comparing BTC’s market capitalization with all other cryptocurrencies has dropped below 55%, according to CoinMarketCap. Just a few weeks ago, bitcoin’s dominance was above 62%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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After Cardano: Wolfram Blockchain Labs Also Teams Up With Tezos

by CryptoPotato

A few months following a Cardano integration, the DLT project Wolfram Blockchain Labs (WBL) has done the same with Tezos. As a result, developers working on blockchain analytics and computational contracts will be able to employ the Tezos network.

WBL Integrates Tezos

WBL is a provider of distributed ledger technology (DLT) solutions that support the development of a wide variety of smart contracts and decentralized applications. It’s the blockchain subsidiary of Wolfram Research – the creator of Mathematica, Wolfram|Alpha, and the Wolfram Language.

The project announced its latest blockchain partnership in a press release shared with CryptoPotato. It informed that the popular blockchain project Tezos has become the latest to be fully-integrated into WBL’s DLT ecosystem.

Apart from enabling developers working on analytics and computational contracts to utilize the Tezos blockchain, the partnership has also led to the establishment of a designated oracle providing Wolfram Alpha data to smart contract developers.

Furthermore, Tezos has utilized Nomadic Labs’ Mi-Cho-Coq formal verification framework to ensure that the oracle displays the same predictable behavior every time.

The statement also highlighted that products employing the Tezos blockchain will be “much more secure” because of the formal verification. It’s a process that “proves the correctness of properties of a smart contract to help mitigate the risks of bugs and other vulnerabilities.”

“Tezos is an exciting third-generation blockchain that features a number of services and functions that will expand what’s available to our developers. We’re thrilled to work with TQ Tezos on bringing the WBL ecosystem of tools to the Tezos blockchain.” – commented WBL CTO Johan Veerman.

Following Cardano’s Steps

Prior to the Tezos integration, WBL partnered with another popular blockchain project – Cardano. Back in late December 2020, the two parties announced the collaboration, which operates in a somewhat similar way.

WBL began implementing Cardano’s DLT data into Wolfram Alpha, thus enabling developers to integrate external data into smart contracts on the Charles Hoskinson-founded project.

Further plans included the development of dApps to enable blockchain-based commerce and business model transformation and using some Cardano-specific content in an educational course material published by WBL.

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StablyUSD (USDS) Launches On The Tezos Blockchain To Lower Transaction Costs

by CryptoPotato

The regulated stablecoin fully backed by the US dollar, Stably USD (USDS), will launch on the popular public blockchain – Tezos as a part of an ongoing collaboration between the two parties. The stablecoin issuer aims to target lower fees with the Tezos network, which recently went through an upgrade that decreased the costs by about 75%.

USDS Comes To Tezos

Issued until now on the Ethereum blockchain, Stably USD (formerly known as StableUSD) is a US dollar-pegged stablecoin fully backed 1:1 and redeemable for the greenback in an FDIC-insured trust account managed by Prime Trust.

However, the project announced the transition to the Tezos blockchain in a press release shared with CryptoPotato. It reads that the two parties have entered into a collaboration and the launch of USDS on Tezos is the first initiative.

The stablecoin issuer targets lower fees as the Ethereum network has been congested lately, and the costs skyrocketed to all-time high levels last week.

In contrast, Tezos recently introduced the Delphi network update, which went live in November 2020. Upon its release, Tezos reported that the gas consumption had decreased by about 75%, thus “enabling more complex smart contracts to be used in advanced on-chain applications.”

Additionally, the Tezos integration will allow USDS users to automatically mint and redeem tokens via Stably Prime later in February. As of now, they can request these processes by a manual mechanism after creating a Stably Prime account and contacting the support center.

The project also plans to enable users to acquire and swap USDS on decentralized exchanges (DEX) like Dexter and QuipuSwap in the following weeks.

Stability And Gas Fees

The CEO and co-founder of Stably, Kory Hoang, confirmed that the project aims to decrease the transaction costs with the Tezos integrations. He also added that the Tezos blockchain provides various qualities needed in the growing cryptocurrency ecosystem.

“Tezos provides a lot of the stability, security, and speed needed for financial use cases, while the singular ability for the Tezos protocol to continually evolve to meet the needs of developers and users without opening itself up to security risks is a major advantage over competing blockchains.”

Hoang further explained that the Tezos integration will allow USDS to provide banking services to people globally while “maintaining rigorous compliance and security standards.”

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Grayscale Breaking Records: Bitcoin Trust Adds Over $1 Billion in a Week

by CryptoPotato

Grayscale continues to break records with its Bitcoin Trust as the company has attracted inflows of over $1 billion in BTC from institutional clients in a week.

Additionally, the company seems to be preparing to launch several new cryptocurrency trusts for Chainlink, Tezos, and more.

Grayscale’s BTC Trust Inflows To A New Record

CryptoPotato reported earlier that the leading digital asset manager registered its best quarter to date in Q4 2020 with the most substantial inflow quantities. Naturally, the Bitcoin Trust was responsible for the majority of those funds.

These record inflows from institutional investors drove Grayscale to accumulate massive quantities of BTC. As such, the company’s holdings account for over 3% of all bitcoins ever to exist.

Grayscale’s recently-appointed CEO, Michael Sonnenshein, exemplified the significant demand from institutional clients for the Bitcoin Trust. He shared a filing with the SEC, claiming that such investors have allocated almost $1.3 billion in GBTC in the span of just one week.

This is a record for the Trust, as the average amount raised on a weekly base stood at $217 million through the company’s best quarter – Q4 2020.

Interestingly, though, the premium on the Bitcoin Trust has fallen beneath 3% for the first time in over a year, shows data from Ycharts. This is a substantial decline from a month ago when the premium was over 40%.

Grayscale Premiums Chart. Source: YCharts
Grayscale Premiums Chart. Source: YCharts

This could suggest that some accredited investors have cashed out GBTC positions. As GBTC is an SEC reporting product, investors have their holdings locked up for six months. After this period expires, they have the right to dispose of their positions, which could affect the premiums.

Grayscale Looks Into New Assets

Apart from the Bitcoin Trust, the asset manager provides products for several other cryptocurrencies. These include Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and more. Recently, the company decided to dissolve the XRP Trust following the SEC charges against Ripple.

However, the firm could be adding more products for its institutional customers soon. The Delaware Trust Company, listed as Grayscale’s “statutory trustee” for Delaware, has filed documents with the state’s corporations registry to establish trusts for five digital assets.

Namely, those are Chainlink, Tezos, Decentraland, Livepeer, and Basic Attention Token.

However, the documents haven’t disclosed when any of these cryptocurrencies will have their own Grayscale Trust.

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LINK Soars 25% To New ATH As Bitcoin Recovers $5000 (Weekend Watch)

by CryptoPotato

After a few consecutive days of price drops, bitcoin has regained some value and has jumped to around $33,000. However, most alternative coins have outperformed their leader with massive gains and have reduced BTC’s dominance over the market to 64%.

Exploding Alts, New ATH For LINK

The past several days have been rather harmful to the altcoins as the cumulative market capitalization lost about $200 billion to beneath $900 billion.

However, most alts have bounced off hard in the past 24 hours with impressive gains.

Ethereum has surged by 8.5% to above $1,270. Ripple has added 4% of value and has neared $0.28. Bitcoin Cash (4%), Binance Coin (4.6%), and Litecoin (2.5%) are also well in the green.

Cardano and Polkadot have increased by approximately 10% to $0.35 and $18, respectively.

However, Chainlink is the best performer from the top ten with a surge of 20%. Thus, LINK surpassed its previous ATH marked earlier this month. As of now, LINK’s new price records stands above $24 (on Bitstamp).

crypto_heatmap
Cryptocurrency Heatmap. Source: Quantify Crypto

More gains are evident from lower and mid-cap altcoins. Decentraland leads with a 42% increase to $0.20. Curve DAO Token (30%), Basic Attention Token (23%), NXM (23%), The Graph (22%), THORChain (20%), Market (19%), Tezos (16%), and NEAR Protocol (16%) follow.

BTC Recovers Some Value But Losses Dominance

The primary cryptocurrency was also slipping in value since it failed to breach above $38,000 earlier this week. Moreover, bitcoin even dropped below $30,000 for the first time since the first week of January.

Some of the price losses could be explained with the FUD that emerged following false reports that there was a double-spending on the Bitcoin network. However, these rumors were debunked by some of the industry’s most prominent names.

As such, the asset managed to reclaim some ground in the past 24 hours and reached a high of almost $34,000. Since then, BTC has retraced slightly and currently trades just below $33,000.

The skyrocketing altcoins, though, have reduced bitcoin’s dominance over the market. The metric that compares BTC’s market cap with all alternative coins has fallen to 64%. This means a 6% decline in about a week.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.




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Bitcoin (BTC) $ 26,582.12 0.11%
Ethereum (ETH) $ 1,593.25 0.08%
Litecoin (LTC) $ 64.96 0.11%
Bitcoin Cash (BCH) $ 208.76 0.06%