Monthly Archives: September 2021

COC#4: On-Chain Silence Before The Storm

Low on-chain activity raises questions regarding current investor demand for bitcoin, but patient investors are increasingly accumulating. September 1, 2021 Cycling On-Chain (COC) is a monthly column that uses on-chain and price-related data to better understand recent market movements and estimate where we are in bitcoin’s market cycle. This fourth edition briefly reflects on the recovering hash rate and then takes a more in-depth look at the relatively low on-chain transfer activity on Bitcoin. After introducing several contributing factors, we discuss to what extent low on-chain activity […]

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Are NFT Sales Susceptible to Shill Bidding? NFT Skeptics Think It’s Possible

In 2021, there’s no doubt that non-fungible token (NFT) collectibles have been extremely popular and NFTs have made billions in sales during the last year. For instance, in the last month Opensea saw $3.44 billion in NFT sales, Axie Infinity saw $838 million, and the pixelated NFTs Cryptopunks saw $653 million in sales. However, there are plenty of NFT skeptics who wonder why JPEGs are selling for millions in ether, and some have suspected auctions and sales could be bolstered by shill bidding or rigging. While NFT […]

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Gary Gensler Speaks To The European Parliament On Bitcoin And Crypto Regulation

The Chairman of the U.S. Securities and Exchange Commission, Gary Gensler, delivered remarks about Bitcoin before the European Parliament. Today, the Chairman of the U.S. Securities and Exchange Commission, Gary Gensler, delivered remarks before the European Parliament which equated Bitcoin to the early internet in terms of world-paradigm-shifting technology. Speaking virtually, Gensler told the European Parliament’s Committee on Economic and Monetary Affairs that Bitcoin is effectively bringing European and American markets closer together, The Block reported. “I think the transformation we’re living through right now could be every […]

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Mayoral candidate pledges to make NYC ‘most cryptocurrency-friendly city in the nation’

Some mayors of cities large and small in the U.S. have been pushing for the adoption of cryptocurrencies or otherwise taking a position in favor of digital assets. Curtis Sliwa, a beret-wearing Republican running to be the mayor of New York City, said one of the goals of his campaign is to focus on crypto. In a Wednesday tweet, Sliwa said he would be focusing on creating greater financial inclusivity in New York City by opening more crypto ATMs and incentivizing businesses to accept cryptocurrency. According to […]

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Bitcoin bulls target $50K as Friday’s $655M BTC options expiry approaches

$655 million in BTC options expire on Sept. 3, and data suggests bulls may be motivated to break the $50,000 resistance prior to the expiry. Bitcoin (BTC) failed to break the critical $50,000 psychological barrier on Aug. 23 and has since then retested the $47,000 support. If historical data plays any role in Bitcoin price, the month of September presented negative performances in 4 of the previous 5 years. Cointelegraph contributor and market analyst Michaël van de Poppe recently said that Ether’s (ETH) break above $3,500 could […]

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El Salvador police arrested and released Bitcoin detractor without a warrant

The National Civil Police later released a statement saying Mario Gómez’s detainment was related to an investigation for financial fraud. An El Salvadorian news outlet has reported that local police arrested a computer and cryptocurrency expert who was critical of the country accepting Bitcoin as legal tender for hours before later releasing him. According to multiple interviews conducted Wednesday by La Prensa Gráfica, the San Salvador police arrested computer specialist Mario Gómez today without a warrant, seizing his phone and attempting to take possession of a computer […]

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Fractionalizing the Doge NFT, Cryptopunk 543 Gets Chopped and Sold for $1 per Share

This week a project called Pleasrdao announced that a notable Doge non-fungible token (NFT) that sold in June 2021 for 1,696.9 ether or over $3.6 million at the time of sale, will be fractionalized. At the time of sale, the Doge NFT was a historic sale and the NFT’s owner wants others to enjoy the ownership. Furthermore, Cryptopunk #543 is being fractionalized as well and sold at $1 per share. Fractionalizing the Doge NFT Into $DOG A project called Pleasrdao wants to sell shards of the Doge […]

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Expanding ecosystem and LedgerX acquisition send FTX Token (FTT) to a new ATH

FTT price soared to a new all-time high after FTX exchange added LedgerX to its ever-expanding list of acquisitions and partnerships. Real-world adoption and brand awareness are one of the best ways for a blockchain project to increase its value and attract new users to users to its ecosystem.  One project that has seen massive growth throughout 2021 thanks to its increasing public exposure and exciting protocol launches and partnerships is FTX, a crypto-derivatives trading platform founded by Sam Bankman-Fried and Gary Wang. Data from Cointelegraph Markets […]

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BlockFi board of directors replaces ‘Crypto Dad’ after four months

“I’m looking forward to continuing to advise this impressive group of leaders, as they work to bridge the worlds of traditional finance and blockchain technology,” said Christopher Giancarlo. Former Commodity Futures Trading Commission chair Christopher Giancarlo, also known as “Crypto Dad,” will be leaving crypto lending firm BlockFi’s board of directors, but continuing to advise the group on digital assets. In a Wednesday announcement, BlockFi said Ellen-Blair Chube, a managing director and client service officer at investment banking firm William Blair & Company, would be replacing Giancarlo. […]

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Internet Computer to release 10,000 free NFTs in debut drop

Dfinity’s clown-based collectables are seemingly inspired by musical duo Insane Clown Posse, and the early NFT project, Cryptopunks. Dfinity’s Internet Computer has announced the release of 10,000 non-fungible tokens, or NFTs. Users are eligible to claim their free token Wednesday at 8pm UTC . Conceptualised by brothers Przemek and Tomasz Chojecki, alongside Adam Stępnik, the trio were inspired to create the avatars following acronym comparisons to the 90’s hip-hop duo Insane Clown Posse, and the overwhelming success of the legendary Cryptopunk NFTs. Following a series of exclusive […]

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