Altcoins Bitcoin Crypto News

Are Small Cap Crypto Assets Rebounding A Sign Risk Appetite Returning?

The crypto market just saw some slight recovery, but the performances are upside down. Opposite to the way sellouts usually play out, the Bitcoin dominance dropped dramatically as the asset is underperforming the Small Cap index. From last November’s $3 trillion market cap, the crypto market is now down to around $800 billion: Smaller Altcoins Make A Strong Comeback Last week the crypto market saw its bottom, followed now by some slight recovery. As per Arcane Research’s latest weekly report, the smaller altcoins have also been seeing red numbers with the Small Cap index shedding 27%, but it has been the best performer overall. In contrast, Bitcoin had dropped 35%. Through this small window of relief during June, we have seen the blue-chip coin underperform all other indexes. As a result, BTC’s dominance in the market fell -1,51% this week to 43,5% while Ether fell -0,31. The latter has been declining since May from 19.5% to 15%. What’s Making This Crypto Winter Colder The report notes that the primary driver of this crypto crash has been the hedge fund Three Arrow Capital (3AC) collapse. Having invested over $200 million in Luna Foundation Guard’s token sale, 3AC’s liquidity ended up being wiped out and its margin call was the last straw for the already pressured market. Related Reading | How Long Will The CryptoWinter Last? Cardano Founder Provides Answers As per the Wall Street Journal, the crypto hedge fund hired legal and financial advisers to help work out a solution for its investors and lenders. The firm is looking for a way out, “including asset sales and a rescue by another firm”. The prognostic is not very positive at the moment, seeing the wave of liquidations and mitigations of losses by crypto exchanges that have followed the collapse. “We were not the first to get hit…This has been all part of the same contagion that has affected many other firms,” Kyle Davies, 3AC’s co-founder, said in an interview. Arcane Research explained that “In periods of insolvency, creditors unwind the most liquid assets first, which is likely the root cause of BTC and ETH’s relative underperformance in the last week.” The report adds that “illiquid altcoins are more challenging to sell at size, particularly during pressuring times, which explains why smaller coins have experienced less excessive selling pressure in the last week”. Meanwhile, Microstrategy CEO Michael Saylor described the events around this winter as a “parade of horribles” in which the consequences of lack of regulation in the crypto field have made it possible for wash trading and cross-collateralized altcoins to weigh down on Bitcoin. “What you have is a $400 billion cloud of opaque, unregistered securities trading without full and fair disclosure, and they are all cross-collateralized with Bitcoin.” “The general public shouldn’t be buying unregistered securities from wildcat bankers that may or may not be there next Thursday,” Saylor added, slamming at the recent collapses and suggesting that future actions by regulators could prevent the level of volatility that BTC is now experiencing. Related Reading | Crypto Investors Find Safety In Stablecoins, Bitcoin, Ditch Altcoins En Masse

Altcoins

Crypto Exchange Giant Coinbase Adds Three Ethereum (ETH) Altcoins Plus One DeFi Token, Spurring Surprise Rallies

A privacy-focused scaling solution altcoin is scaling up after joining Coinbase’s roster of crypto assets. In an announcement, Coinbase says Marlin (POND) is now live across its entire platform, including on the iOS and Android apps. News of the Coinbase listing has Marlin surging by 31% to $0.013. POND was trading for as low as […]

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Altcoins

Coinbase Adds Surprise Support for New Ethereum Altcoin Backed by Investment Giant Andreessen Horowitz

A new Ethereum (ETH)-built monitoring and security altcoin is joining the leading US-based crypto exchange. In a new announcement, Coinbase says Forta (FORT) will be available to trade on the platform under the experimental label. Coinbase applies the experimental label to “assets that are either new to our platform or have relatively low trading volume […]

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Bitcoin

What Did The Francophone Bitcoiners Recommend To The Central African Republic?

Remember the francophone Bitcoiners that visited the CAR a couple of weeks ago? Well, they released a “Report from the Bitcoin Delegation in the Central African Republic” and we’re about to summarize what it says. The “Bitcoin Delegation” issued the report in Paris and it addresses President Faustin-Archange Touadéra directly. “This document will also be […]

Bitcoin Blockchain Crypto News

Hex Trust adds support for Polygon (MATIC) to enable licensed secure custody

Hex Trust, a licensed and insured provider of bank-grade custody and associated services for crypto-assets in Asia, announced today it has successfully integrated Polygon, the full-stack scaling solution for Ethereum, into its crypto-asset custody platform Hex Safe. As a result, Hex Trust now offers fully licensed and highly-secure custody for Polygon’s native token (MATIC) with […]

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Crypto News

Registrations Kick-off for Digital Asset Marketplace STRMNFT

StreamCoin Starts Off Registration for STRMNFT. STRMNFT is a digital asset marketplace that aims to revolutionize Video NFTs. CEO Michael Ein Chaybeh and the team are thrilled about the developments. Blockchain company StreamCoin has officially announced the start of registrations for its much-awaited STRMNFT marketplace. This is the newest in the company’s long list of achievements including listing its token on over 100+ exchanges. Launched on May 31, 2022, the STRMNFT marketplace boasts a user-friendly interface that has been designed keeping in mind users new to the crypto space. Michael Ein Chaybeh, StreamCoin’s CEO, remarked on this choice by saying: “As per our approach towards developing an ecosystem from user to tech, we designed STRMNFT to be an easy-to-use marketplace and an open space for all types of users. With our platforms and services, we aim to draw the line between the crypto enthusiasts and the modern Web 2.0 users who have not experienced blockchain or crypto before.” The STRMNFT team also adds that as a preliminary offer, STRMNFT features a free digital asset minting until July 2022. StreamCoin encourages all users to grab the chance and register on STRMNFT for free. According to the information shared with CoinQuora, the StreamCoin team is also conscious of the environmental impacts of their technology. Staying true to their eco-friendly vision, they leverage the Proof of Deed (PoD) approach to save power and resources. Addressing the energy concern of blockchain tech, Chaybeh was quoted saying: “As we observe how the planet is being consumed every day by operating high-capacity servers, power-consuming blockchain networks, and other high carbon-emission platforms, we came up with a new, responsible, eco-friendly solution that doesn’t compromise the speed and efficiency, and at the same time, contributes to a better future for our planet.” On a lighter note, the StreamCoin team was excited to share more details of the exciting features they have to offer. Through STRMNFT, users can follow their favorite content creators, create playlists for the video NFTs, and also sort the content based on categories. Users will even have their own personal channel with options to make their content available for public or private views. Following the STRMNFT launch, TNC Group, one of StreamCoin’s leading partners and investors, released an exclusive Lady Apes NFT collection. TNC Group states that they will be offering discounts on these collections to all who participated in StreamCoin’s ICO and staking portal.

Altcoins

Coinbase Custody Adds Support for 16 Altcoins, Including 13 Ethereum-Based Tokens

Coinbase continues to expand its crypto footprint in a major way by extending custodial services support to more than a dozen altcoins. In a new announcement, the US-based cryptocurrency exchange says it’s adding 16 new cryptocurrencies to its roster of 200+ assets that are part of the Coinbase Custody cold storage trust, a baker’s dozen […]

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Crypto News

With 12 Key Measures of Prices, Truflation’s Revamped Dashboard 2.0 Independently and Accurately Assesses Real-Time Inflation Rates

Truflation’s newly revamped dashboard provides data on 12 key cost categories to more accurately measure inflation rates as compared to many government consumer price indicators Truflation, a decentralized, blockchain-based inflation index initiative, has announced the release of a new and redesigned UI for its dashboard, complete with a new set of features, functions, and capabilities. This new “Dashboard 2.0” revises the six standard expenditure categories used by many official government consumer price indexes (CPIs) and adds six new categories as well, bringing the total number of cost categories covered by the platform to 12. With this new update, Truflation hopes to significantly improve the accuracy and relevance of inflation data that is available to private and public markets and enterprises. Truflation has also revised the respective weights of each cost category to more accurately reflect changing tastes, trends, and macroeconomic movements that affect consumer spending behavior. The release of Dashboard 2.0 is a major development that takes Truflation away from the current CPI model which uses only six cost categories to cover all areas of consumer spending. By breaking up these major cost categories, revising the weights of each category, and adding new categories that are relevant to today’s consumers, Truflation hopes to provide users with better and deeper data insights, more comprehensive and accurate breakdowns of price changes, and independent assessments of price action in the categories that matter most to people and businesses – all securely and transparently stored and provisioned to users via the blockchain. Stefan Rust, the Founder of Truflation, commented on the new update by saying: “The release of Dashboard 2.0 will represent a huge leap for Truflation. Our goal is to provide the best economic insights possible to users all around the world. With independent demographic data, more relevant cost categories, and real-time data feeds from a wide range of reliable providers, we can provide direct and accurate information on what households actually spend money on. We can also measure inflation more accurately. This information can then be used for everything from procurement to supply chain optimization to resource planning, marketing, pricing, and more. We are excited about expanding into new markets and bringing this value-added service to people and businesses operating in a wide range of different industries.” Mr. Rust is a former CEO of Bitcoin.com and has an exceptionally talented team with over five decades of data science experience working on Truflation. The team recently acquired a vast data trove on global household expenditure data. This data will be used to build Truflation’s index of what households actually buy and spend money on throughout the year. Since Truflation can update data weights in real-time based on newer data, it can accurately calculate inflation rates for different geographic areas and provide deeper insight into the 12 key cost categories of consumer spending. Thanks to standardization and seamless integration with data feeds, Truflation’s indices can be easily scaled and rolled out across different countries, markets, and geographies using the same reliable methodology. Cost categories and basket weights can also be adjusted and updated over time to improve both the accuracy of results and comparability across different regions and time periods. This level of flexibility and relevance is in contrast with many current systems that use non-standard approaches to calculating inflation rates, which makes comparisons and analysis harder to perform. At present, Truflation uses consumer data for multiple household income levels and uses census, mini-census, and consumer and merchant surveys for price information, which makes Truflation’s empirical data not only very granular but highly comprehensive as well.  

Altcoins

Little-Known Altcoin Built on Ethereum Explodes 407% As Coinbase Adds It to Listing Roadmap

One decentralized finance (DeFi) altcoin is surging as top US crypto exchange Coinbase puts four new crypto assets on the path to joining its roster. In an announcement, Coinbase says it plans to add DeFi Yield Protocol (DYP), along with three other altcoins to the trading platform in the future. Assets added to the roadmap […]

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