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Most Influential Asians in the Blockchain Space

Most Influential Asians in the Blockchain Space

The blockchain and cryptocurrency markets have experienced rapid expansion in recent years. The crypto market has seen an unparalleled rise in users across countries worldwide, from big institutional investors to small retail investors, users seeking huge profits to people looking for safer, less expensive alternatives to bank transactions. Asia has been identified as a center […]

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Dogecoin (DOGE) Co-Creator Issues Crypto Winter Warning As Bitcoin Rises Above $30,000

The co-creator of popular meme crypto asset Dogecoin (DOGE) is reportedly issuing a warning that crypto has not yet reached the stage of hibernation despite the massive devaluation across all assets in the space. According to a new report by Australian media outlet Crikey News, Jackson Palmer, who along with Billy Markus developed Dogecoin in […]

The post Dogecoin (DOGE) Co-Creator Issues Crypto Winter Warning As Bitcoin Rises Above $30,000 appeared first on The Daily Hodl.

Crypto News

Why Is South Korea Leading in Crypto?

Over the last few years, the astronomical growth in cryptocurrency prices facilitated the surge of crypto and blockchain technology adoption in a few key markets. South Korea is one of them. The nation has always been a leading force and major participant in the emerging digital asset economy. Even though South Korea operates in an isolated manner because of its strict capital control laws, its crypto market still grew to new heights, reaching a valuation of $46 billion at the end of 2021. According to a report, South Korea is home to roughly 5.58 million crypto users, accounting for more than 10% of the country’s population. It is impressive how South Korea’s crypto market continued to grow and advance in crypto development despite the fact that the government had imposed crypto license regulation that forced over 60 Korean exchanges to shut down and caused a dent of almost $2.8 billion to traders. South Koreans Have Always Been Early To Emerging Technologies In most countries, the younger demographic tends to explore digital assets like crypto while the older age groups shy away from high-risk asset classes. However, in South Korea, a wide range of age groups actively participate in the market. According to a survey in 2021, it is reported that nearly half the users on top Korean exchanges were in their 40s and 50s.  In 2018, when bitcoin saw a major price surge, South Korea was responsible for more than 30% of all crypto trading activities in the world. The high demand for cryptocurrencies exhausted the available supply in the country, making it impossible for investors to buy crypto assets without paying a high premium. In South Korea, this is called Kimchi Premium.  So if one bitcoin was trading at $10,000, South Koreans were paying $15,000. This opportunity was exploited by many investors worldwide, with the most well-known being the founder and CEO of FTX, Sam Bankman Fried. South Korea has also given the world some of the best DeFi protocols since the early days of crypto. Konstellation Network is one of them. Built out of the capital city, Seoul, Konstellation is developing a one-of-a-kind infrastructure using Cosmos SDK to help users explore cross-chain capital markets seamlessly. It also has a native token, $DARC, that powers the entire ecosystem. Users can stake $DARC tokens with the help of Hubble wallet and earn passive income and also use the wallet for managing portfolios across different capital markets. Such projects have put South Korea on the DeFi map and encouraged more innovation from one of the key crypto markets. Further propelling South Korea’s DeFi innovation is the nation’s pro-crypto government. The president-elect of South Korea, Yoon Suk-yeol, promised to bring crypto-friendly regulations and support companies to be unicorns in valuations. For tax policies, he vowed to not impose any capital gains tax of up to $40,000. He also plans to lift the ban on Initial Coin Offerings (ICOs), which has been in place since 2017. With proper regulation and reasonable tax rates, the South Korean market is primed to see explosive growth in terms of institutional adoption and global trading volume. South Korea is All-In South Korea has set an example for the world by efficiently adopting cryptocurrencies and adapting to this new financial paradigm. The nation’s supportive stance on cryptos is now attracting more crypto-focused companies to set up shop in this Asian subcontinent. As a means to welcome this change and further boost its digital asset economy, the South Korean government has announced its plan to support 40,000 professionals and 200 companies working on metaverse and NFT projects. Nonetheless, it remains to be seen how the government plans to prepare the regulatory framework for this new technological landscape.  

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Bit2Me to collaborate with DFG to assist crypto startups in the Spanish and Portuguese markets

Bit2Me, a Spanish crypto exchange that last year launched its native B2M token, announced today it has reached an agreement with Digital Finance Group (DFG), a Singapore-based investment firm specializing in blockchain technology and cryptocurrencies. DFG has invested in some of the most notable crypto projects, participating in the launch of the USDC stablecoin, and […]

The post Bit2Me to collaborate with DFG to assist crypto startups in the Spanish and Portuguese markets appeared first on CryptoNinjas.

Crypto News

YashaDAO Promises A Community-Driven Incubator For Crypto Projects

The global blockchain market hit a record high valuation of USD 4.9 billion in 2021, gaining traction across many major industries. Institutional venture capitalists and retail investors are fueling this trend and pumping capital into crypto startups and projects. By 2028, it is predicted to increase at an annual rate of 82.4 percent and soar to a market value of USD 394.60 billion! Despite the highs that the crypto sector has achieved and the potential, it holds for transformation, it is nascent and volatile. Due to the lack of regulations and oversight in this space, investors fall prey to fraudulent Initial Coin Offerings (ICOs), shitcoins, and pump and dump schemes. These scams have made investors apprehensive about investing in even seemingly valuable projects. This has also led to difficulties in raising capital for high-quality crypto startups. If this is left unchecked in the long run, it will certainly harm the industry and hinder the widespread adoption of cryptocurrency. YashaDAO entered the scene to foster a healthy crypto investment ecosystem by solving the twin problems of capital fundraising and vetting genuine projects. But what is it all about? And does it match up to its promises? Read on to find out! YashaDAO: A Snapshot Of The Project YashaDAO is a decentralized finance (DeFi) protocol built on the Ethereum network. YashaDAO appears to have a solid foundation rooted in strong fundamentals of investments and due diligence. Memecoins can often be an extremely risky venture with massive losses, frauds, and exploitations. One of the largest scams that befell the crypto community was the Squid Game token where investors were rekt from a rug pull of USD 3.4 million in a matter of minutes! In January 2022 alone investors lost over USD 4 million to scam crypto projects and this figure does not include the money lost to hacking attacks. Such is the magnanimity of the situation. YashaDAO, according to its Whitepaper, is here to “transform the meme coin space forever and for good”. Being built on the Ethereum chain, its purpose is to serve as a vetting and contribution program for bootstrapping high-quality potential new token projects, charities, and not-for-profit organizations that want to raise capital or funds from the community. YashaDAO itself has undergone a smart contract audit by DeFi contract audit firm, Nebula, to prove its trustworthiness. According to the audit report, YashaDAO’s smart contracts are “well- designed and engineered” with “no critical or high issues” found related to business logic, security, or performance thus providing transparency to its users from the start. What Segments Does YashaDAO Offer? The YashaDAO project is divided into three parts: the Yasha Incubator, an incubator for crypto startups, Yasha DAO, the community of investors who also govern the platform, and the YashaPAD, a launchpad that provides safe, handpicked projects for investors. The YashaDAO platform aims to connect investors and credible startups by offering a healthy, scam-free investment environment in the form of an incubator cum launchpad. Thus, the “IncuLaunch” serves benefits to all stakeholders in the crypto investment space. How Does YashaDAO Help Crypto Startups And Investors? From the crypto fundraising front, the team behind YashaDAO has created the Yasha Incubator which is dedicated to evaluating and assessing novel blockchain initiatives and ventures. New projects who wish to list themselves on the YashaDAO platform will submit an application listing all particulars and relevant documentation. The project then reaches the YashaPAD where they are vetted by the team and community. The launchpad has strict due diligence processes in place such as live recorded video calls, 2FA with phone numbers, watch list checks, and background checks prior to listing. Once these checks are completed, the project moves on to the next phase where the YashaDAO members vote on the project assessing its viability and credibility for it to be listed. Only if the project passes all of these checks do they get approved to be listed on the YashaPAD and given access to a pool of potential investors or grants. In this sense, YashaDAO has the potential to transform the crypto investments space by offering reliable projects only to be listed and for investors to fund noteworthy projects. Few projects such as Guzzler, an NFT based car racing game, $CLIFF, a hyper deflationary token have already launched successfully on the platform and are performing well in secondary markets. Further Pochi Inu, a unique metaverse pet token launched on YashaDAO shortly after them. What Lies Ahead For YashaDAO? YashaDAO will remarkably propel the DeFi revolution if it achieves its goals. Without being tied to traditional venture capitalists, any protocol, NFT game, or token initiative, the crypto community now has a fighting chance to obtain funding in a way like never before. With the YashaPAD and incubator segments, crypto-themed companies in the Web 3.0 space can fund their ventures without approaching veteran venture capitalists and raise funds in a community-driven way.  

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South Korea Has A New President – And He Likes Crypto

Yoon Suk-Yeol, a conservative presidential contender, has officially been elected as the new president of South Korea. According to news reports, Yoon of the People Power Party defeated his politically progressive opponent, Lee Jae-Myung, by less than 1%. In South Korea, cryptocurrency dominated the election discourse, with both candidates launching NFTs connected to their campaigns. They have acquired popularity among the younger, more crypto-enthusiastic public because of their pro-crypto viewpoints, which contrast with former president Moon Jae-ban In’s stance on bitcoin exchanges. Bitcoin-Friendly President Of South Korea Throughout his campaign, Yoon promised to de-regulate the bitcoin market. In January, he declared at a crypto conference that rules “far from reality and absurd” must be revised to “realize the infinite potential of the virtual asset market.” Yoon has declared a goal to recruit and build cryptocurrency “unicorns,” or startup companies worth $1 billion or more. He also committed to increasing the planned capital gains tax level before it goes into force. In addition, he suggested that he might revisit a 2017 ban on initial coin offerings (ICOs) and revive the controversial fundraising mechanism. Related Article | Leading News Outlets In Ukraine Aim To Secure $1 Million By Selling NFTs A corporate entity may utilize ICOs to raise funding by minting and selling cryptocurrencies; however, ICOs are plagued with fraud, with coin issuers disappearing after the transaction is completed, causing a detrimental effect on the blockchain and cryptocurrency in general. During their annual shareholder meetings, several of South Korea’s major entertainment and gaming firms showed interest in cryptocurrencies, pledging to build non-fungible tokens (NFT) or play-to-earn games. Proposed Crypto-Market Taxation Cryptocurrencies and exchanges are not yet recognized as “legal currency and exchanges” in South Korea since they are not subject to a solid regulatory framework. Because bitcoin is neither cash nor a financial asset in South Korea, cryptocurrency transactions are now tax-free. As per the Ministry of Strategy and Finance, the South Korean government is contemplating levying a tax on cryptocurrency transactions and intends to implement a taxation framework in 2022. SoKor’s $46 Billion Crypto Market In its latest estimate of the nearly $46 billion bitcoin market in South Korea, the Financial Intelligence Unit has presented its findings. KRW-to-crypto market accounted for barely 27% of the global market, although the global market average is almost 60%. Cryptocurrency trades in South Korea are worth an average of $9.4 billion per day. Local crypto investors in their 30s, 40s and 20s make up 31% of the population, according to a recent survey. No. 16 In The World South Korea ranks 16th in global cryptocurrency adoption, with nearly 2 million individuals, or 3.8% of its total population of 55.7 million, owning some crypto-asset. Meanwhile, Yoon has committed to increase the capital gains tax threshold on Bitcoin and other cryptocurrencies from $2,000 to $40,000, establishing one of the most generous tax-free allowances in the world. Related Article | Bitcoin On Course To Hit $100K Nine Months From Now, Bitbull CEO Predicts Featured image from TheBitTimes.com, chart from TradingView.com

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Factors Leading to Distribution Interests in Blockchain and Gaming Projects

Factors Leading to Distribution Interests in Blockchain and Gaming Projects

For quite a while now, blockchain technology and the applications anchored on it have been the hottest trends in business and finance. The increase in popularity of cryptocurrencies, especially after the COVID pandemic, has created new business models and investment opportunities. Generally speaking, there are two broad categories for investors to put their money in: […]