Connect with us

Blockchain

Anchorage raises $80 million in series C round

Republished by Plato

Published

on

Crypto custodian and banking company Anchorage has raised $80 million in a series C funding round, which was led by GIC, Singapore’s sovereign wealth fund. Other participants in the round included a16z, Blockchain Capital, Lux, and Indico

Anchorage aims to use the new capital to scale to meet rising demand for participation in the digital asset space. The firm noted a surge in demand, particularly among corporations, and traditional financial institutions. This new round of funding will allow Anchorage to help institutions participate in “new ways — by bringing crypto to their users.” Especially, by diversifying their corporate treasuries, and by “enabling a wide range of emerging use cases.” 

Anchorage co-founders Diogo Mónica and Nathan McCauley said in a release shared with AMBCrypto:

Today, with banks and corporations seeking exposure to the space for themselves and for their customers, we expect the meaning of participation to expand once again. 

The team at Anchorage stressed that the firm has always focused on enabling institutions to participate in the crypto asset space. 

They found that at first, such participation translated to secure custody that clients could use. However, this has since grown to mean a wide range of crypto-native financial products and services, such as staking and governance, to financing and lending, trading and DeFi.

The firm happens to be one of the first crypto-native companies to receive a federal banking charter from United States OCC. 

In the coming months, Anchorage team expects to offer at-launch support for new protocols and support emerging corporate use cases, among others. 

The firm intends to offer custody support for DeFi tokens, bringing wrapped layer-one protocols to Ethereum, and supporting Bitwise in the launch of the first DeFi crypto index fund.

Source: https://eng.ambcrypto.com/anchorage-raises-80-million-in-series-c-round

Blockchain

Solana (SOL) price rises as airdrops attract new users to the network

Republished by Plato

Published

on

Over the past six months blockchain projects that have issued token airdrops have re-emerged. Most notably, the airdrops by Uniswap (UNI) and MEME will be remembered as recipients were rewarded with gains ranging from $20,000 to $600,000 simply for holding the tokens.

One Ethereum (ETH) competitor that has seen numerous projects launch with airdrops in the past three weeks is Solana (SOL), an open-source project that focuses on utilizing blockchain technology to provide decentralized finance solutions.

While Solana isn’t explicitly making a concerted effort to launch these projects, the protocol’s main decentralized exchange Serum (SRM) was responsible for the recent COPE airdrop which distributed 2,000 tokens to users who participated in the joint DeFi hackathon held by Solana and Serum.

After the airdrop, COPE eventually listed on Serum for $0.50 on March 30 and the price of the token surged to a high of $5.43 on April 11, rewarding holders with a $10,860 reward.

SOL/USDT 4-hour chart. Source: TradingView

The success of the COPE airdrop prompted a series of token launches and airdrops with similar-sounding names including HOPE, ROPE and KOPE, whose launches on the Solana blockchain have coincided with a 55% rise in the price of SOL since the start of April.

Airdrops on the network may have played a small role in the recent price appreciation due to users needing SOL to receive airdropped tokens but this is not possible to ascertain based on the available data.

Interactions on the Solana blockchain, including the addition of new tokens to the Sollet wallet, require small amounts of SOL to complete the contract executions. Thus, users rushing to sign up for airdrops before they filled up would have needed to purchase SOL and fund their wallets in order to create new addresses for the airdropped tokens.

Analysts expect the airdrop trend to continue

For those worried that they missed out or that the ‘airdrop season’ is over, a recent tweet from Solana’s Twitter feed suggests that the Solana ecosystem is just getting started, meaning the likelihood of future airdrops remains high.

New users are the lifeblood of successful blockchain networks, and the use of airdrops continues to be one of the most utilized methods for drawing attention to fledgling projects and sapping liquidity from one protocol to another.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/solana-sol-price-rises-as-airdrops-attract-new-users-to-the-network

Continue Reading

Blockchain

Why Bitcoin below $60K could be a great buying opportunity

Republished by Plato

Published

on

Bitcoin seems to be losing steam as it trades back and forth between $59,000 and $60,000. In the daily chart, BTC is moving sideways (0.3%) after a week with modest gains of 4.9%.

Bitcoin BTC BTCUSD
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview

Trader Josh Rager has set support for BTC at $59,000. Holding this level could give it enough momentum to retest the $60,600 area. The trader expects “new highs” by Wednesday.

On-chain data seems to support this prediction, as shown by CryptoQuant shared by “Byzantine General”. BTC reserves for the spot market continue their downtrend and indicate a “consistent demand”. This trader said:

Except for those 2 inflow outliers most significant flows have been outflows. This massive consolidation range that we’re in sure looks a lot like re-accumulation.

Further evidence suggests that Bitcoin’s current price action is driven by institutions unlike the previous bull-run in 2017. Besides from Google search volume for “Bitcoin” is at a relatively low, Coinbase trading volume has skyrocketed since Q3 and Q4, 2020.

However, on this metric, the percentage of retail investors has trended downwards, as the following graph demonstrates. The trader said:

Last bull run we were talking about institutions coming, but now they’re actually here, and they’re buying.

Bitcoin BTC
Source: IntoTheBlock

Bitcoin 4 years cycles could change

On April 14, crypto exchange Coinbase will go public on the U.S. stock market. Under the ticker » Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>COIN, the trading platform will be one of the first major crypto companies on the traditional market.

This moment converges with VISA testing stablecoins, PayPal expanding its crypto services, Tesla integrating Bitcoin as a payment method. The above could play an important role during this week as the 14th approaches. The trader said:

That doesn’t mean there won’t be any corrections anymore. Of course not, I mean we’ve seen three massive (liquidations) corrections this year alone. But, this bull run could be different. Maybe the 4 year cycle structure that we’re used to from bitcoin could break.

Two additional key metrics are the percentages of BTC trading above 1 Trillion USD market cap and the amount of BTC on exchanges. The former is estimated at 11% as BTC’s price trades above $53,000 which points to a “validation” of the current price, as stated by analyst William Clemente.

Bitcoin BTC
Source: Glassnode

On the latter, there is a correlation between the miners and long-term holders keeping their BTC and the increased supply outflow from the trading platform. Clemente added:

In combination with exchange withdrawals, supply is becoming increasingly illiquid. This means the new wave of institutional demand (just beginning) must compete for the mere 2.3M coins left on exchanges.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.newsbtc.com/news/why-bitcoin-below-60k-could-be-a-great-buying-opportunity/

Continue Reading

Blockchain

Reddit reminisces defunct ‘Bitcoin faucet’ website that gave away 19,700 BTC for free

Republished by Plato

Published

on

Reddit’s r/Cryptocurrency community revived an interesting piece of Bitcoin (BTC) history on Sunday, with a new thread reminiscing about the time that American software developer Gavin Andresen gave away 19,700 BTC. 

A thread started by “uGroundbreakingLack78” took the Reddit community all the way back to June 2010 when Andresen first launched the so-called Bitcoin faucet website. Using the domain “freebitcoins.appspot.com,” Andresen allowed users to earn 5 BTC per day just by solving a captcha, which is a program intended to distinguish human from machine input.

User “uGroundbreakingLack78” explained:

“To fuel the first faucet, Andresen loaded it with 1,100 BTC of his own. After these were given away, the faucet was reloaded, with early bitcoin miners and whales also donating coins.”

The faucet’s creator announced his “really dumb” idea of giving away free BTC on the now infamous Bitcointalk forum in a post that appeared June 11, 2010. His motivation: “[…] I want the Bitcoin project to succeed, and I think it is more likely to be a success if people can get a handful of coins to try it out.”

Andresen played a major role in development during Bitcoin’s formative days. He was the main software developer for BTC’s reference implementation, having joined the core development team in 2012 after Satoshi Nakamoto, Bitcoin’s pseudonymous founder, announced they would be leaving the project.

Although the Bitcoin faucet website is no longer functioning, a screengrab of the domain’s homepage revealed a very basic setup where users can earn BTC and set up their digital wallet. The Bitcoin faucet reportedly gave away 19,700 BTC to users just for solving a captcha. Those BTC are worth almost $1.2 billion at today’s prices.

The Bitcoin faucet website, as it appeared sometime in 2010. Image via Reddit

With Bitcoin in the midst of yet another bull market, many investors would love to get their hands on just 5 BTC. However, that’s easier said than done at current values. Given the apparent shortage of BTC on major exchanges, the flagship digital currency could be poised to go higher in the short term. On-chain data reveals that Bitcoin’s moonshot could still be months away, which means investors remain overwhelmingly bullish.

The Bitcoin price peaked just below $62,000 in mid-March before the rally paused and altcoins played catch-up. At current values, Bitcoin’s market capitalization exceeds $1 trillion. Major institutions and corporations have invested in the digital asset as a hedge against currency debasement, among other motivations.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/reddit-reminisces-defunct-bitcoin-faucet-website-that-gave-away-19-700-btc-for-free

Continue Reading
Blockchain4 days ago

Decentralized oracle solution Umbrella Network adds Huobi as validator node

Blockchain3 days ago

XRP Price Analysis: 08 April

Blockchain3 days ago

$48B Asset Manager Millennium Management Dabbles With Bitcoin

Blockchain3 days ago

Binance Smart Chain Daily Transactions 200% More Than Ethereum’s

Blockchain4 days ago

Digital yuan campaign planned for contested island in the South China Sea

Blockchain3 days ago

America’s Second-Oldest Bank State Street to Enable Crypto Trading on its Platform

Blockchain4 days ago

Tesla’s landlord accepts crypto; will Elon Musk pay rent in Bitcoin?

Blockchain3 days ago

Polkadot Price Analysis: 08 April

Blockchain4 days ago

Why JP Morgan’s CEO calls Bitcoin regulation a “serious issue”

Blockchain3 days ago

Bitcoin exchanges just saw massive Tether stablecoin deposits

Blockchain4 days ago

Bitcoin Miners Hit Jackpot as Hash Rate Peaks Again

Blockchain4 days ago

Miners are hoarding Bitcoin from record daily earnings

Blockchain4 days ago

Crypto sentiment falls even as Bloomberg tips Bitcoin will hit $400K

Blockchain4 days ago

Revolutionizing the crypto-market in India with CryptoBiz exchange

Blockchain4 days ago

Phemex Launches OTC Trading, Enables Crypto Purchase with Bank Transfers

Blockchain3 days ago

Man Gets 12 Years in Prison After Trying to Buy Lethal Chemical Weapon With Bitcoin

Blockchain3 days ago

Cardano’s Anti-Counterfeit Solution Sees First Successful Implemetation

Blockchain4 days ago

Tendermint acquires B-Harvest, creator of Cosmos-based Gravity DEX

Blockchain4 days ago

Ontology’s cross chain DeFi lending platform Wing is now live on Ethereum

Blockchain3 days ago

Ether price takes on Bitcoin — What’s behind the sharp rise in demand?

Trending