Connect with us

Blockchain

Token of Bitcoin-based protocol Sovryn (SOV) begins trading after $9M investment

CryptoNinjas » Token of Bitcoin-based protocol Sovryn (SOV) begins trading after $9M investment

Sovryn, the Bitcoin-based decentralized finance (DeFi) protocol, announced it has agreed to a $9M investment from a consortium of partners, vetted for their strategic contribution and led by Anthony Pompliano’s Pomp Investments after its proposal was formally accepted by the Sovryn community. Tuesday, April 13th, will see the first day of Sovryn (SOV) trading, exclusively on […]

CryptoNinjas » Token of Bitcoin-based protocol Sovryn (SOV) begins trading after $9M investment

Avatar

Published

on

Sovryn, the Bitcoin-based decentralized finance (DeFi) protocol, announced it has agreed to a $9M investment from a consortium of partners, vetted for their strategic contribution and led by Anthony Pompliano’s Pomp Investments after its proposal was formally accepted by the Sovryn community.

Tuesday, April 13th, will see the first day of Sovryn (SOV) trading, exclusively on the Sovryn platform, before it becomes available on other exchanges.

Of the groups that applied to invest, those which were vetted and accepted include representation by leading exchanges such as Cadenza (a BitMEX affiliated venture fund) and AscendEX (BitMax), and Gate.io as well as blockchain miner Blockware Solutions.

These market players will bring their reputations and deep balance sheets to bear on the corporate aspects of the Sovryn project and will in time look to build software to adopt and integrate with the Sovryn protocol. Secretive DeFi whale investor 0x_b1i is part of the consortium, as is institutional markets maker Consolidated Trading, which will help pass the benefits of DeFi to the world of traditional finance, among others.

Sovryn

Bitcoin is not only the most secure blockchain, it is also the most scalable, because it is focused on fundamentals and is extremely simple, designed to do only one thing – to secure Bitcoin transactions. Sovryn extends the functionality of Bitcoin; it uses the same proof of work, is mined and secured by Bitcoin and the transactions that occur on the sovereign system are paid in Bitcoin fees to Bitcoin miners so it extends that security. The way that the Bitcoin world scales is by adding additional layers of technology to Bitcoin’s simple, basic blockchain. This contrasts with the Ethereum network where modifications are made to its base layer, which increases its complexity and its cost.

Source: sovryn.app

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.cryptoninjas.net/2021/04/14/token-of-bitcoin-based-protocol-sovryn-sov-begins-trading-after-9m-investment/

Blockchain

Dogecoin Spinoff SHIB Tanks After Ethereum Founder Vitalik Buterin Dumps Tokens

Shiba Inu is in the doghouse. Vitalik Buterin might be as well.

Avatar

Published

on

In brief

  • Some crypto projects gave Vitalik Buterin a lot of tokens, hoping that it would add to their legitimacy.
  • Maybe that wasn’t a great idea.

So, remember when Vitalik Buterin got a bunch of those Shiba Inu tokens? And then some folks warned that he could rug pull the Dogecoin-wannabe?

Well, it kinda just happened.

A wallet attached to the Ethereum creator today removed over 2 trillion in Shiba Inu tokens ($40+ million) from Uniswap, according to data from block explorer Etherscan, helping propel the token into a nosedive; SHIB has lost 20% of its value in the last hour, per Nomics.

Vitalik removing SHIB liquidity from Uniswap. Source: Etherscan

Shiba Inu, a Dogecoin knockoff, is a meme coin that calls itself an “experiment in decentralized spontaneous community building.” Unlike Dogecoin, it runs on the Ethereum network, where it has helped contribute to a surge this week in the price of transactions. 

SHIB’s developers sent more than half of the total tokens to Buterin. They figured that meant the tokens were practically “burned,” or removed from the market as a means of decreasing supply and upping demand. Buterin instead burned SHIB holders by removing the SHIB from a liquidity pool on Unsiwap.

The autodidactic developer wasn’t done, as he continued dumping Shiba Inu in favor of Ethereum. 

Taking the opportunity to clean out his crypto wallet, Buterin then traded 50 billion Akita Inu tokens for ETH, according to information on Etherscan, causing that dog token to crater by 30% in an hour. Forty trillion Dogelon Mars (ELON) tokens got the same treatment, getting swapped for 619 ETH. That’s down a whopping 90% this hour.

Don’t worry, though, shitcoin speculators. Your loss is a charity’s gain.

Vitalik sent 500 of his just-bought ETH (over $2 million) to a wallet associated with the India Covid-Crypto Relief Fund and another 1,000 ETH to a Coinbase wallet for the Methuselah Foundation, a medical charity for extending human life. GiveWell received $53 million in ETH, while Gitcoin, an Ethereum-based foundation for open-source development, received over half a billion dollars’ worth of AKITA tokens.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/70672/dogecoin-spinoff-shib-tanks-after-ethereum-founder-vitalik-buterin-dumps-tokens

Continue Reading

Blockchain

This Bitcoin bull on XRP supporters: They just don’t look at the truth sometimes

The last couple of months for XRP have been noteworthy, to say the least, from the latest developments of the ongoing XRP vs SEC lawsuit to its surging price rally, The asset was trading at $1.52 at p

The post This Bitcoin bull on XRP supporters: They just don’t look at the truth sometimes appeared first on AMBCrypto.

Avatar

Published

on

The last couple of months for XRP have been noteworthy, to say the least, from the latest developments of the ongoing XRP vs SEC lawsuit to its surging price rally, The asset was trading at $1.52 at press time.

Mike Novogratz, the CEO of Galaxy Digital had a different take on XRP’s sudden rise and the asset’s community.

During a recent interview, Mike Novogratz slammed XRP supporters or the so-called ‘XRP army’. He compared them to conspiracy theorists in an interesting analogy during this ‘Earn your Leisure’ interview. He stated:

“Over the years, the XRP army has built up a real community of people that really want to believe it…You could tell them anything. It’s like 9/11 conspiracy theories. There’s a little bit of that in crypto. They just don’t look at the truth sometimes.”

He made a unique remark about the XRP supporters, drawing parallels with the former US president’s supporters. He stated:

“This community reminds me of the former President, Donald Trump’s supporters, who continue to deny the legitimacy of the 2020 election.”

Statistics from Bitinfocharts paint a different picture. According to this, Tweets per day related to XRP amounted to 19,392 at the time of writing.

Source: BitInfoCharts

Furthermore, XRP supporters had recently taken to Twitter to urge crypto exchanges to “Relist XRP” a hashtag that went viral on the social media app in the recent past. Meanwhile, Google Trends data recorded a surge in the ‘relist XRP’ search term, over the past month. An important reason for the surge can be credited to the publicity gained from the lawsuit filed by the SEC.

Just two days after the lawsuit was filed, the crypto had lost almost 50% of its value in 24 hours. It’s no wonder skeptics question the rise of the digital asset, despite the lawsuit.

So what did fuel this spike? Was it the XRP supporters, the whales, public sentiment? The right answer could be a combination of everything, including rumors about a possible Ripple IPO.


Sign Up For Our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/this-bitcoin-bull-on-xrp-supporters-they-just-dont-look-at-the-truth-sometimes

Continue Reading

Blockchain

Bitwise Launches Crypto Company ETF on New York Stock Exchange

The ETF will track 30 companies heavily invested in crypto.

Avatar

Published

on

In brief

  • Crypto asset manager Bitwise today announced the launch of a new ETF.
  • The ETF will track the value of 30 companies that are involved in crypto—such as Coinbase.
  • But the ETF is still not the crypto ETF that many companies are hoping to get approved.

Asset manager Bitwise today announced the launch of a new exchange-traded fund (ETF) that will give investors exposure to companies heavily involved in cryptocurrency

The ETF, Bitwise Crypto Industry Innovators ETF, will be listed on the New York Stock Exchange (NYSE) under the ticker BITQ. The idea is that those who want to put money in the crypto world but are perhaps put off by the complex technological side of things can do so by buying shares.

ETFs are a big deal for investors. They track or follow the price of an underlying asset and allow people to buy shares of it, without having to own any of the asset themselves. ETFs can track anything from gold and foreign currencies to, most recently, Ethereum

In this case, Bitwise’s new ETF will track the Bitwise Crypto Industry Innovators 30 Index, a list of public companies that have significant exposure to crypto. The companies include cryptocurrency exchange Coinbase, business intelligence firm Microstrategy and Bitfarms, a Bitcoin mining firm—all of which own lots of Bitcoin and other digital assets. 

Bitwise CIO Matt Hougan said: “Until recently, most great crypto innovators were private companies, but that’s changing rapidly. Today, there’s a growing set of public companies capitalizing on crypto, and more to come. BITQ aims to identify these businesses and give investors access.”

The company’s CEO, Hunter Horsley, added that the ETF’s goal was to make investing in crypto available via “traditional investing platforms.”

But Bitwise’s NYSE listing still isn’t a crypto ETF in the truest sense—something that cryptocurrency investors in the US have anticipated for years, and which investors in other parts of the world have shown a strong hunger for.

There are currently nine companies hoping to get a Bitcoin ETF approved by the Securities and Exchange Commission (SEC). 

The SEC is currently in the process of reviewing three of them. Previously, however, the governmental body has rejected every attempt at crypto ETF while citing the need to protect investors from a Bitcoin market that can still be easily manipulated.

But in Canada, regulators have not only approved crypto ETFs, they have been extremely popular: there are eight Bitcoin and Ethereum ETFs in the country and all have sold eye-watering amounts of shares. When Purpose, the first Canadian Bitcoin ETF launched, it sold $80 million in just one hour.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://decrypt.co/70649/bitwise-crypto-company-etf-nyse

Continue Reading
Blockchain3 days ago

Post the SNL dump, is it time to convert your Dogecoin to bitcoin?

Blockchain4 days ago

OKB Technical Analysis: Strong Support Zone of $32.281

Blockchain4 days ago

Opimas estimates that over US$190 billion worth of Bitcoin is currently at risk due to subpar safekeeping

Blockchain4 days ago

VanEck Files For an Ethereum ETF With The SEC

Blockchain4 days ago

BSCTrades Introduces Limit Order Tool and Token Launch Snipper

Blockchain3 days ago

Yieldly announces IDO

Blockchain4 days ago

Ripple Compelled to Produce Evidence of Legal Advice about XRP Sales

Blockchain4 days ago

Bitcoin’s Halving May Not Pump Price Like Last Time – Here’s Why It Doesn’t Matter

Blockchain4 days ago

Bullish ETH Sets New All-Time High as It Touches $3,800

Blockchain3 days ago

Bitcoin Casinos are on the Way to Accept Dogecoin

Blockchain4 days ago

Trudeau’s Half-brother Is An Anti-vaxxer, Bitcoin Entrepreneur & Affectionate Critic of the Prime Minister

Blockchain3 days ago

ADA Leapfrogs USDT as New All Time High Reaches $1.78

Blockchain5 days ago

Crypto Market Cap Added $300B in 7 Days as Altcoins Explode: The Weekly Recap

Blockchain5 days ago

VanEck Files For an Ethereum ETF With The SEC

Blockchain5 days ago

JOSÉ FONTE AND EDER BECOME THE FIRST FOOTBALLERS IN THE WORLD TO LAUNCH NFTs

Blockchain3 days ago

Decentralized Storage Project ColdStack Becomes First IDO on SuperStarter Launchpad

Blockchain4 days ago

Latest ATH for Dogecoin Ahead of Musk SNL Appearance

Blockchain4 days ago

BSCTrades Introduces Limit Order Tool and Token Launch Snipper

Blockchain4 days ago

Exploring the Complicated Relationship Between SEC and Crypto

Blockchain4 days ago

Icecap Relocates to Dubai and Launches NFT Diamond Collection

Blockchain3 days ago

Robinhood Got Overwhelmed Again, This Time By DOGE Selloff

Blockchain3 days ago

Bank of England Governor: Prepare to Lose Money if You Invest in Bitcoin

Blockchain2 days ago

NYC Comptroller Candidate Suggests Crypto Investments as Inflation Hedge

Blockchain4 days ago

VirgoCX to Hold a Crypto Holiday Fundraiser in Support of SickKids Foundation

Blockchain3 days ago

Bitcoin’s Halving May Not Pump Price Like Last Time – Here’s Why It Doesn’t Matter

Blockchain5 days ago

DOGE Co-founder Reveals the Reasons Behind its Price Rise

Blockchain5 days ago

DappRadar Announced $5 million Raise in Series A Funding

Blockchain4 days ago

VanEck Submits SEC Filing to Create an ETH-Centered ETF

Blockchain4 days ago

TrustSwap (SWAP) and Wanchain (WAN) Technical Analysis: What to Expect?

Blockchain3 days ago

Ethereum Price Surges to New All-Time High Above $4,100

Trending