Day: June 3, 2021

Korean Solana expansion gets $20 million boost

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Solana-related news has surfed a number of headlines in recent months. The blockchain now appears headed for major strides in Korea, with significant funding for its surrounding ecosystem.  “As one of the largest crypto markets globally, Korea has an extraordinarily high adoption rate of cryptocurrencies,” a representative from Korean firm ROK Capital told Cointelegraph. “By expanding the Solana ecosystem in Korea, we hope to grow the awareness and adoption of decentralized applications on the Solana ecosystem as well as encourage and incubate local teams to build on Solana.” A new…

Why Bitcoin Price Could Be Destined To Retrace To $14K

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Bitcoin price just saw the worst high timeframe correction in years, falling sharping by 50% and instilling fear across the market. The turn in sentiment has everyone guessing where the now bearish cryptocurrency could fall to, but according to past cycles, it could get a lot worse before it gets better. Here’s more on why Bitcoin price could fall back toward $14K before the bear phase is over. Bitcoin Yearly Candle Turns Bearish, But What About The Bull Market? The arguments are all similar: if that was the top in…

Security tokenization may be the next big use case for blockchain tech

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Is tokenization of securities the way of the future? In an interview with Raiffeisen Bank International, the bankers leading its blockchain research hub stated that indeed, by 2030, most securities will have been tokenized. To gain a deeper understanding of how blockchain technology can transform traditional stock exchanges, Cointelegraph Research compiled a dataset of all security token offerings and found that almost $5 billion was raised in 2020.  Cointelegraph’s first report on security tokens explains how bond and stock tokenization works, how many assets have already been tokenized, what returns…

AMC ‘meme stock’ frenzy may spill over to crypto as Bitcoin metric nears buy zone

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Bitcoin (BTC) is slowly but surely preparing to flash “buy,” a key indicator suggests as a trading frenzy reignites memories of the GameStop debacle. In its latest report on June 3, Stack Funds highlighted the Puell Multiple nearing the green “buy” zone — a signal to enter the market. Puell multiple drops to pre-2021 levels The Puell Multiple is one of the best-known BTC price tools. Its readings judge the likelihood of a sell-off or uptick based on miner profitability. Currently, it makes little sense for miners to sell unless…

Solana Launches $20M Fund with Korean VC Firm

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Share this article The Solana Foundation and South Korean blockchain accelerator firm ROK Capital are launching a $20 million fund to develop the Solana ecosystem. Ethereum Competitor Attracts Capital The Solana Foundation and ROK Capital are starting a $20 million fund, it was announced Thursday. It’s been established to support the growth of the Solana network. According to a press release, ROK Capital will use the fund to invest in “Solana-focused infrastructure projects, including those related to Web3, DeFi, and NFTs.”  ROK Capital has already invested in Solana-based projects like Mercurial…

Top blockchain mentors join forces to advise on ‘groundbreaking’ Solana projects

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Solverse, a Solana-focused accelerator program, has tapped 21 subject matter experts to advise on up-and-coming Solana projects, setting the stage for further development of the high-performance blockchain network.  Representatives from 21 companies were selected to join the Solverse mentorship program. The mentors themselves come from diverse backgrounds, including global investment banking, blockchain infrastructure and media. Representatives from Alameda Research, Axia8 Ventures, Bitscale, Lemniscape and many others will make up the mentorship panel. The infrastructure provided by Solana will bring De-Fi capacity and sophistication to the next level,” said Wayne Lin,…

Dapp for upcoming Diem blockchain raises $4.5M in seed investments

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Pontem Network, a decentralized application that seeks to connect Facebook’s Diem to public blockchains like Ethereum (ETH), has raised $4.5 million in seed investments, setting the stage for continued development of the ambitious digital currency project.  The Pontem Network is described as a Polkadot Substrate-based chain, which means it can serve as a testnet for Facebook’s Diem blockchain. By utilizing a Polkadot parachain, Pontem can introduce developers to Diem’s potential, allowing them to validate their ideas before submitting to the Diem Association. Pontem co-founder Stas Oskin said his platform’s vision…

Polkadot (DOT) and Kusama (KSM) skyrocket in price after attracting $30M in funding

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Polkadot (DOT) and Kusama (KSM) rose in tandem on June 3 as traders assessed a venture capital firm’s major investment into their blockchain ecosystems. Dubbed as Master Ventures, an Asian blockchain incubator and venture capitalist announced that it had launched a $30 million venture capital fund called Master Ventures Polkadot VC Fund. In a press release published Wednesday, the firm said that its fund would “support and finance the Parachain bids” of tier-1 blockchain projects that want to win a Parachain slot on the Polkadot Relay Chain. Master Ventures also noted…

Novogratz’s Cryptology to Invest $100M in Crypto Funds

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Share this article Cryptology says it wants to partner with its portfolio funds to invest in promising blockchain companies.  Cryptology Readies $100 Million Investment  Cryptology Asset Group, an investment firm co-founded by Mike Novogratz and Christian Angermayer, has put aside $100 million to back crypto venture funds.  The company announced the update in a Thursday press release, detailing its ambitions to build its fund portfolio by focusing on “first time funds and emerging managers.” Angermayer said:  “We are at the very beginning of the crypto revolution, and we strive to…

Specialized workforce needed as crypto and blockchain courses enter colleges

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It shouldn’t come as a surprise that the need for candidates specializing in cryptocurrency and blockchain has become more apparent than ever before. This could be attributed to the fact that major companies are announcing job positions for candidates who are knowledgeable in alternative payments and emerging technologies. For example, global software giant Apple has recently announced plans to recruit a new business development manager with alternative payment experience. Other leading companies, such as PayPal, Venmo and Tesla, have also been seeking out talent with blockchain and cryptocurrency expertise. Colleges…