Day: May 26, 2021

DeFi and traditional finance could converge thanks to tokenization

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Nonfungible tokens could become a bridge to connect the legacy financial system to the emerging fintech world in the near future. During a recent interview, Adrian Lai, CEO of Liquefy — an investment firm and an incubator for decentralized finance platforms — told Cointelegraph China that synthetic assets, NFTs and digital securities are redefining the way capital markets operate.  Lai especially believes that the value of synthetic assets could give each individual in decentralized finance access to essentially any asset, as long as there is a reliable data feed. This emerging…

Ether sails past BTC’s daily volume as Grayscale ETH Trust trades at 11% premium

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Ethereum is seeing renewed interest in the aftermath of Bitcoin’s travails this week, with Ether’s 24-hour trade volume topping BTC’s by a significant margin. However it’s still a long way from doubling Bitcoin’s volume as some ETH proponents suggested. On May 25, a screenshot of CoinGecko data circulated across Crypto Twitter showing the daily volume of Ether had surpassed $115 billion while Bitcoin’s sat at nearly $53 billion. Speaking to Cointelegraph, CoinGecko’s co-founder and COO, Bobby Ong, revealed the data depicted in the screenshot was not accurate due to either…

Voyager Digital sees 16X increase in quarterly revenue, first operating profit

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Crypto asset trading firm Voyager Digital has announced financial results for the first quarter of 2021, and they are impressive. The retail crypto trading and yield platform reported another record quarter, with momentum continuing into the current quarter. Total revenue for the period came in at $60.4 million, more than a 16x increase from $3.6 million over the previous quarter. The company ended the quarter with an operating profit of $30 million and an adjusted working capital of $197 million. It was the firm’s first-ever quarter of operating profit, Voyager…

You can now buy gold-backed NFTs with the mining carbon footprint offset

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Digital asset wallet provider Lohko and London-based tech firm Mattereum have teamed up to launch nonfungible tokens, or NFTs, that are backed by gold and have carbon offsets attached. According to a May 26 announcement the tokens represent ownership over physical gold bars that are stored in a vault in Singapore managed by partner Bullionstar. Each NFT represents an underlying bar of gold, with both the token and the physical bar of gold sharing a unique serial number. The tokens are also sold with a warranty ensuring NFT’s owner “has…

Technical Breakout Suggests BTC Could Rally Above $40K

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Bitcoin price is holding gains above the $38,000 pivot level against the US Dollar. BTC is signaling more gains above the $40,000 resistance zone in the near term. Bitcoin is showing positive signs above the $37,000 and $38,000 resistance levels. The price is trading nicely above the $37,000 zone and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $38,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to accelerate higher above the…

$223M fund for Internet Computer builders — but community is wary

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Zurich-based Dfinity Foundation has announced a fund worth CHF 200 million, or around $223 million, to support development on the Internet Computer — a blockchain-based decentralized network with wildly ambitious plans to one day “replace” much of the internet. The non-profit scientific research organization announced “The Developer Ecosystem Program” on May 26, and is now accepting applicants for development grants. These grants will operate separately from the $14.5 million Beacon Fund, which was announced in September 2020, and is a dedicated venture fund that backs developers creating open internet services…

Uniswap v3 flips v2 on volume — and both versions flip Bitcoin on fee revenue

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The world’s largest decentralized exchange keeps growing and the newly-launched third iteration has now surpassed version two in terms of daily volumes. In addition to v3 topping the daily transaction volumes of v2, both have individually surpassed Bitcoin in terms of daily fee generation. The move was observed by Uniswap founder Hayden Adams who commented that both are earning more daily and weekly fees than Bitcoin miners. Data from Cryptofees showed that Uniswap v3, which was launched on May 5, generated $4.5 million with v2 generating $3.8 million in fees…