Day: May 12, 2021

Vitalik Buterin Has Dumped His Unsolicited Doge-Clones

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Key Takeaways Ethereum creator Vitalik Buterin has dumped several unsolicited Dogecoin knockoffs that recently arrived in his wallet. Various projects gave their tokens to Buterin in order to “burn” the coins, but Buterin never agreed to participate in the plan. So far, Buterin has given away more than 50 trillion SHIB tokens and donated more than $60 million in ETH. Share this article Ethereum creator Vitalik Buterin has sold and given way several of the Dogecoin lookalike tokens sent to him in recent weeks. Buterin Sells Off Tokens Over the…

Double Bottom On The Dollar Could Be The End Of Bitcoin Rally

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Bitcoin, Ethereum, and just about every other asset on the planet trades against the dollar on its most liquid trading pair, and the greenback is the base currency that all exchanges rates are based on. The power and influence of the almighty dollar cannot be understated, and the crypto market could soon feel the surprising sting of the global reserve currency. A double bottom could be forming on the dollar, with a hidden bullish signal that could bring a hurting to the currently overheated stock and crypto market. Here’s a closer…

Christie’s $17 Million CryptoPunks Sale Sparks Criticism

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Key Takeaways Nine CryptoPunks, including a rare Alien Punk, went on sale at Christie’s on Monday, fetching $16.9 million for the lot. Miniature physical versions of the Punks were hidden around the Christie’s gallery ahead of the auction, leading many NFT fans to criticize the gallery’s non-prominent display. The sale, conducted in fiat, was overshadowed by a Basquiat piece that sold for $93.1 million alongside other notable works. Share this article Nine rare CryptoPunks sold for $16.9 million at Christie’s on Monday as part of the art brokers’s latest auction…

MoneyGram to Offer Bitcoin at 20,000 U.S. Kiosks

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Key Takeaways MoneyGram is partnering with Coinme to allow customers to buy Bitcoin with cash. The service will roll out at 20,000 outlets across the U.S. this year. Bitcoin has enjoyed a wave of mainstream adoption this year, with major banks and firms starting to adopt the asset. Share this article Further proof that Bitcoin has hit the mainstream.  MoneyGram Adopting BTC MoneyGram will start offering Bitcoin to customers, the firm announced Wednesday.  The U.S. company, best known for facilitating wire transfers, is partnering with Coinme to allow customers to…

Move Over Chainlink, UNI Might Offer a Better Oracle

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Key Takeaways UNI tokens could be used to relay a secure price feed for ETH/USD due to Uniswap’s high market cap. A higher market cap means acquiring enough UNI tokens to create an oracle attack would be too expensive for hackers. Vitalik Buterin said Chainlink’s current incentive system is not perfect and Chainlink is better used on more complex issues. Share this article The co-founder of Ethereum argued for the necessity of a centralized price oracle with a high market capitalization to make any attack prohibitively expensive. In this case,…

ETH Becoming “Ultra Sound Money,” Says Vitalik Buterin

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Key Takeaways Vitalik Buterin has shared his thoughts on ETH’s potential as a form of money in a podcast about “legitimacy.” Buterin argued that legitimacy and social contracts control resources associated with blockchains like Ethereum. He also said that NFTs have played a key role in giving Ethereum legitimacy. Share this article Is ETH money? Vitalik Buterin seems to think so.  Vitalik Buterin Discusses Ethereum’s “Legitimacy”  On the latest Bankless podcast, Buterin discussed Ethereum and “legitimacy,” following a March blog post the Ethereum co-founder had penned titled “The Most Important…

Do 46 million Americans really own crypto?

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Crypto social media was abuzz after Newsweek published the article headlined “46 Million Americans Now Own Bitcoin, As Crypto Goes Mainstream” on May 11. The impressive figure was re-posted by notable Bitcoiners including MicroStrategy CEO Michael Saylor who tweeted: “The finance industry is taking crypto mainstream by building Bitcoin into their insurance, banking, & investment products. Newsweek says 46 million Americans now own Bitcoin.” The finance industry is taking crypto mainstream by building #Bitcoin into their insurance, banking, & investment products. @Newsweek says 46 million Americans now own Bitcoin.https://t.co/Wj6Ymk0hYU —…

Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

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Bitcoin (BTC) gained 4.3% on May 12 as cryptocurrencies recovered losses despite increasing turmoil on global stock markets. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview BTC price reverses upwards Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD erasing almost all the previous day’s losses on Wednesday to trade above $57,500 at the time of writing. The move came amid concerns over froth in tech stocks, fueled by problems in Taiwan which saw the country’s equities index post its biggest one-day loss in history.  Bitcoin and altcoins had sold off with…

Ethereum Overcame Odds With New High, Here’s Why ETH Could Test $4.5K

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Ethereum started a fresh increase and it traded to a new all-time high above $4,250 against the US Dollar. ETH price is now showing signs of more upsides towards $4,500. Ethereum found support near $3,700 and it surged to a new all-time high near $4,280. The price is trading well above $4,200 and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $4,045 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher towards…

9 CryptoPunks sell for $17M at Christie’s auction house

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Despite the recent NFT frenzy starting to cool, prized nonfungible tokens with historical significance are still fetching multi-million dollar prices. On May 12, famed New York-based auction house, Christie’s, tweeted that an auction for nine tokens from pioneering NFT CryptoPunks had cleared for nearly $17 million combined. Despite the tokens fetching millions, some Twitter users speculated that the winning bidder scored a bargain. I thought they’d go for more myself also. — VeryBadAcid (@acid_very) May 12, 2021 CryptoPunks were launched by LarvaLabs in 2017, and were limited to 10,000 tokens…