Monthly Archives: September 2022

Blockchain.com, London-based crypto exchange, has been granted a provisional regulatory approval by the Virtual Assets Regulatory Authority (VARA), Dubai. With granted provisions, institutional and retail clients can use the crypt platform in the United Arab Emirates (UAE).

Blockchain.com, via ablogpost, stated that the organization is in the process of setting up a local office in the area. Furthermore, the company has full intentions of hiring for the same. The platform also underlined the importance of the licensing process as critical to its commitment to global compliance and regulation.

Peter Smith, CEO and co-founder, Blockchain.com appreciated the efforts of the local team via Twitter.

It was on 9 March 2022 that HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai approved the crypto assets law. Furthermore, with the establishment of VARA the goal of establishing the UAEs position as a global player in the virtual assets industry becomes easier.

The countrys crypto assets law necessitates cryptocurrency exchanges and users to register with the regulatory body before engaging in crypto-related activities, such as operating a crypto exchange, transferring crypto assets, and trading tokens or other assets. Since then, a number of cryptocurrency exchanges have been granted regulatory approval in the UAE by VARA.

Furthermore, on 3 June, Crypto.com received provisional approval of its Virtual Asset MVP from VARA. Thus, allowing crypto.com to offer crypto products and services. On 21 June, Hex Trust received a provisional approval from VARA.

On 14 July, crypto trading application OKX was provided a provisional virtual assets license by VARA. On 29 July, FZE, a division of the cryptocurrency exchange FTX, received the Minimal Viable Product (MVP) license by VARA. This proves that the country is open to offering virtual asset exchange products and services in the UAE.

In July, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced a new metaverse strategy. This strategy aims at increasing the number of blockchain and metaverse companies by 5x in the next five years.

The plan also aims to generate $4 billion. He further added that the move will help Dubai become a metaverse leader in the region. Thus, making it one of the 10 leading economies, besides generating 40,000 virtual jobs.

On 2 August, Blockchain.com successfully registered itself in the Cayman Islands to offer a range of crypto services to institutional clients. Soon after, the company secured regulatory approval from Italys Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Blockchain.com said that the company is actively pursuing additional licenses in other countries as well. These include Germany, the Netherlands, France, Spain, and Ireland.

The crypto firm operates several offices in North America, Europe, South America, and Singapore.

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This cryptocurrency exchange becomes the latest to set up shop in the UAE - AMBCrypto News

The primary objective of decentralised finance (DeFi) has been to simplify the exchange and trading of digital assets. This occasionally can be too technical for the average user, and it doesn't offer anything else that makes it appealing. Crypto fans are currently looking for alternatives that can provide significant gains in the future due to the current bear market. A lot of support and a quick increase in value is anticipated for cryptocurrencies in the presale stage. Although new to the market, Big Eyes Coin has had one of the most successful presales in the crypto market.

Addresses owning Ethereum (ETH) will receive an equivalent amount of ETHW on the branched blockchain after the cryptocurrency is forked.

Although miners are preparing a Proof-of-Work fork, Ethereum is transitioning to Proof-of-Stake. After the Merge next week, a group of anonymous developers with the backing of numerous significant Ethereum miners is anticipated to hard fork the Ethereum blockchain, maintaining a portion of the network using the current Proof-of-Work (PoW) consensus mechanism while the main blockchain switches to Proof-of-Stake (PoS).

The ETHPoW fork, which has the same transaction history as the main Ethereum network, will produce its own blocks upon activating the Merge update.

The pre-Merge state of the Ethereum network will be used as the starting point for the PoW split, meaning all token balances and smart contracts will also be carried over. As a result, everyone who now has ETH on-chain will end up with an identical amount of ETHW on the ETHPoW chain. Only the PoW fork will have native ETHW, which will be a distinct asset from the original ETH on Ethereum.

The PoS chain is now almost universally supported by DeFi, NFT, and network infrastructure protocols, which puts the PoW fork in a vulnerable position. Decentralised exchanges on the fork will probably stop operating when it launches, and centralised stablecoins like USDC and USDT will lose all of their value. This might lead to widespread liquidations and disrupt numerous DeFi protocols.

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Big Eyes Coin (BIG) wants to enter what it sees as a "billion-dollar market" by developing a unique mascot. The project team is fully aware of how crucial tangible evidence is to guaranteeing the project achieves a favourable response rate. BIG has had a very successful presale raising $1 million in the first week.

Big Eyes Coin (BIG) is a community-driven currency that will redistribute wealth within the decentralised financial ecosystem. Big Eyes intends to donate 5% of its profits to a non-profit organisation to safeguard sea life and its ecosystems.

One of Big Eyes Coin's most important advantages is the end of taxes! As the platform acquires more popularity, the capability will unquestionably attract more market future investors. The taxation system will initiate various automated changes, including purchasing the liquidity pool, the auto burn, and the marketing wallet. Big Eyes Coin (BIG) wants to provide an environment where its user base is actively encouraged to participate in daily activities.

Goals for its marketing strategy include the creation of a green, organic community and major contributions to the DeFi environment.

If interested, you can instantly buy the BIG Token online with a debit or credit card. Users can also use the USDT or ETH tokens from Tether or Ethereum to pay for it.

A MetaMask wallet must be installed on your browser, or you must use one of the wallets that Wallet Connect supports to proceed. When the public presale closes, users can claim the BIG Tokens on the claims website.

Learn more about BIG down below:

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin

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The reader is further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

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Meme Coin Big Eyes Ready To Follow The Second Biggest Cryptocurrency Ethereum | Mint - Mint

Everything indicates that good times are coming for the cryptocurrency market and Bitcoin,

At least thats how Ivan Tello of Decrypto.la analyzes it. But also, he says, there are high risks for Uncertainty generated by next Ethereum merge, What do we do with the weights? (A24), highlights that These last 90 days have been more than good for crypto. Many have gone up to 70%. Ethereum, for example, has practically started at a low of $800 and climbed up to $2,000. The market is slowly starting to reverse the trend, largely thanks to Ethereum, which has taken a huge hit. In fact, it has grown a lot more than bitcoin at least over the past few weeks and there are good opportunities starting to emerge.

expert refers Next Ethereum Mergeannounced for the next September 15The date on which your mining system will change. That innovation will be responsible for the growth of other cryptocurrencies.

Bitcoin: It did not achieve what Ethereum did. However, It remains positive in last 90 days after 5% fall it had suffered, While it remains within those limits, it has begun to exhibit at least a firm hold on these values.

chiliso: in August climbed 78 percent. This is because it is the platform through which clubs can obtain their fan tokens. really, The Argentina national team has direct links with all the clubs and mainly with the World Cup in Qatar.

Matic: It went up over a 25%, It deals with smart contracts. And, fearing what is happening in Ethereum, many people are starting to move their smart contracts to other options within Ethereum. It increased its value from US$0.32 to over US$1 in just 90 days.

Ethereum: The changes announced for this month are some good and some bad. When talking about cryptocurrencies, immutability stands out as its fundamental premise, that is, it does not change the rules of the game while one is playing. However, this is the second time in its history that will change all of its currency theory. The merge is going to change the mining system to make it more eco-friendly, its going to improve the emissions system to make it deflationary, but it also has a negative consequence. Tello warned.

It could be that miners dont support this and a fork occurs, a split of the original chain into two ethereums like this one. This has already happened in 2016. During the last fork, Ethereum Classic emerged. This version is still traded in the market today; The one who had Ethereum in 2016 had two as of July 20Yes from a series that continued and a classic. It was thus that the fork suddenly found itself with the two currencies with different quotes, the Decrypto.la co-founder explained.

Thats why investors saw a great opportunity and started buying in large quantities. Today the classics have grown more as they seek alternatives to smart contracts. Everyone holding NFTs by September 15th will have 2, who will have $1 virtual for a chain, will have $2, so this change is a social experiment that could go exceptionally well or generate a huge debacle. Is. For this reason investors are starting to migrate to other smart contract processing coins.Tello concluded.

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Cryptocurrency And Bitcoin: What Will Be The Impact Of The Coming Changes - Nation World News

Bitcoin price: The leader of the cryptocurrency market, Bitcoin made a strong rally on Friday with the coin skyrocketing more than 11% in 24 hours. The rally can be attributed to an easing in the US dollar that has kept other currencies under pressure since the start of this year. Also, investors took a breather from concerns of a further aggressive monetary policy approach from the US Federal Reserve. The US inflation data scheduled next week will give more clarity on the intensity of the Fed's rate hike trend going forward.

Led by broad-based buying sentiment, Bitcoin traded at $21,192.54 up by 10.37% with a market cap of more than $405.75 billion. The coin has touched a 24-hour high of $21,279.27 - climbing by over 11% so far in the day.

Counterpart Ethereum also picked up momentum. It was trading at near $1,710 rising by around 6%. The coin's market cap is around $211.62 billion.

At the interbank forex market, the US dollar currency has plunged by as much as 1% against the pound and euro. The dollar pulled back from its two-decadal peak in the second half of this week.

Dileep Seinberg, Founder & CEO, MuffinPay, Bill Payment & Utility Crypto said, "With this rise, the crypto market extended its gains for the second straight session and the total Market capitalisation raced past the $1 trillion mark once again. This rally can be attributed to the ease of the US dollar which had been hurting the sentiments of the other currencies. The dollar index, after hovering near multi-year highs, took a breather and sparked a rally in other assets including cryptos."

The US is set to announce its August inflation data on Tuesday next week -- which is likely to provide more translucency on the US Federal Reserve's hawkish stance on keeping high-interest rates to fight inflation at cost of economic growth. In July 2022, the US consumer price index slowed better-than-expected at 8.5% -- pulling back from a four-decadal high of 9.1% in June this year.

On Thursday, James Knightley, chief international economist at ING wrote in his note, that Federal Reserve Chair Jerome Powells comments to the Cato institutes conference today on monetary policy are clearly supportive of a third consecutive 75bp interest rate hike on 21 September.

ING economist further wrote, "there is no hint that he supports moderation, arguing that we need to act now, forthrightly, strongly as we have been doing and we have to keep at it until the job is done". There is also the usual mention of inflation expectations and the need to anchor them in order to ensure inflation doesnt become ingrained."

However, the economist believes the rate cut scenario is high in 2023. He said, "With recessionary forces intensifying, we expect inflation to fall relatively swiftly next year thanks to lower gasoline prices feeding through more broadly, weaker wage pressures and declining input costs combined with falling house prices depressing the rental components of CPI. We are currently pencilling in a rate cut in June with further easing through the second half of 2023."

The performance of Bitcoin has been co-related to US stocks amidst the country's inflation data. Especially, since mid-May deep depression due to macroeconomic uncertainties has led to the co-relation between Bitcoin and stocks higher.

"Investors shrugged off Federal Reserve Chairman Jerome Powell's pro-liquidity tightening stance. Cryptocurrencies strengthened from sliding inflation expectations and prospects of renewed monetary easing next year," Seinberg added.

Om Malviya President, Tezos India said, "In my opinion, its just a basic market short-relief and one should refrain from believing that the bull market is over. Had there been any substantial reason behind this, it could have been crystal clear. Such market volatility is akin to Crypto and a much clear image will appear to post the Ethereum Merge."

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Bitcoin crosses $21k, rises over 11% in 24 hours: Here's what to expect ahead | Mint - Mint

By Anuj Yadav

The crypto market is renowned for its wild volatility, which often becomes the roadblock to broader adoption of crypto & utilising its virtues. The investors need the best of both worlds i.e agile features of crypto and the stability of traditional finance. The concept of stablecoins forms a bridge between the crypto & fiat world as their value is linked/ pegged to more stable reference assets like other currencies, commodities, etc. Most cryptocurrencies are lucrative for traders & speculators due to their high volatility but they fail to become a risk-averse medium of exchange. Stablecoins are designed to reduce the volatility of crypto and to make them the store of value and digital money to facilitate day-to-day commerce/exchanges.

The first successful stablecoin, Tether launched in 2014 and the idea of stable digital currencies captured global attention. The popularity of stablecoins grew exponentially over the years and 2020 observed a booming growth in the stablecoin market. As per a recent estimate by CoinMarketCap, their market capitalization reached approximately $167 billion in May 2022 viz. approximately 3000% increase since the beginning of 2020. The strong fundamentals & potential innovative use cases of stablecoins made them an integral part of the crypto ecosystem and enhanced the adoption rate globally. Recently, many countries and their respective central banks are engaging in discussions to consider launching their own stablecoins. In Davos at WEF 2022 discussions, CBDC (Central Bank Digital Currencies) was among the main agendas of discussions on the crypto ecosystem.

The year 2022 started on a promising note with a 15% increase in the stablecoin market in the first quarter of the year but the catastrophic meltdown of the Terra Luna decided otherwise. Although the crash of Terra Luna lost billions from the market and raised questions over the stability of stablecoins, its failure pushed the market towards maturity. It helped in weeding out the existing bad actors in the crypto market & educating the investors. It highlighted the shortcomings of algorithmic stablecoins and raised awareness among investors about the fundamentals of stablecoins. Algorithmic stablecoins are not backed by any collaterals, they maintain their value pegged to fiat by using complex algorithms. These are not stable in the true essence as their price derives from the supply and demand of investors. However, all other collateralised stablecoins such as fiat-collateralized (eg. Tether- USDT), crypto-collateralised (eg. Makers DAOs Dai- DAI), Commodity- collateralised (eg. Tether Gold- XAUT) stablecoins are stable & safe crypto investment options as they are always backed with the stable reference assets. They also conduct regular audits to ensure that their reserves are in line with the stablecoin circulation.

Stablecoins successfully retained the faith of investors and survived the crash due to its strong fundamentals. They are more than just investment instruments. Stablecoins have the potential to bring revolution to the payment industry by facilitating cross-border payments. Traditional methods take up to a few days to process the wire transfer and they also impose a heavy transaction fee on international transactions. Whereas stablecoins can make these payments quick & affordable for users by reducing the transaction time and fee significantly. Due to underlying potential various governments worldwide are exploring ways of integrating & regulating the stablecoins. Japan has recently passed a stablecoin bill for investor protection whereas there are ongoing discussions in regulatory bodies to bring a robust regulatory framework for stablecoins in the EU and countries like the UK and the US etc.

Gradually stablecoins have become an integral part of the crypto ecosystem and they are steadily rising in the market. There are more players entering into the stablecoin space which indicates the increased confidence of institutional investors in the idea of stable digital currencies. Recently Tether announced to launch of a new stablecoin (GBPT) pegged to the British pound and Shytoshi Kusama announced that the Shiba Inu community is also planning to launch their stablecoin.

The future of stablecoins seems promising but it certainly depends on the factors like regulatory policies & legal acceptance worldwide. The stablecoin market is still in the nascent stage, the rate of mass adoption in coming years will be the key factor to determine the fate of stablecoins.

The author is co-founder and CTO, Kassio

Also Read: Crypto fraud: Man held for duping Meerut bizman of Rs 1.84 crore

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What are the implications of stablecoins growth in the cryptocurrency market - The Financial Express

Over the past 24 hours, Cosmos Hub's ATOM/USD price has risen 10.24% to $13.22. This continues its positive trend over the past week where it has experienced a 8.0% gain, moving from $12.2 to its current price. As it stands right now, the coin's all-time high is $44.45.

The chart below compares the price movement and volatility for Cosmos Hub over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has increased 41.0% over the past week while the overall circulating supply of the coin has increased 0.41% to over 292.59 million. The current market cap ranking for ATOM is #23 at $3.87 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Cosmos (ATOM/USD) Cryptocurrency Cosmos Hub's Price Increased More Than 10% Within 24 hours - Benzinga