Connect with us

Blockchain

Bank of Lithuania Teams Up With NEM Blockchain To Launch LBCoin For Coin Collectors

The Bank of Lithuania is all set to explore the opportunities and offerings of the crypto domain by the launch of its highly anticipated venture, the LBCoin Project, in collaboration with the NEM blockchain network. The product will take pride in being the world’s first digital collector coin released by the banking institution as an …

Republished by Plato

Published

on

The Bank of Lithuania is all set to explore the opportunities and offerings of the crypto domain by the launch of its highly anticipated venture, the LBCoin Project, in collaboration with the NEM blockchain network. The product will take pride in being the world’s first digital collector coin released by the banking institution as an ode to celebrate the Act of Independence of 16 February 1918 and the contribution of the 20 original signatories who aided in the expansion and development of the Lithuanian region.

According to the official announcement, the Bank of Lithuania, through the LBCoin initiative, will be issuing 24,000 blockchain-powered digital tokens and 4,000 physical silver collector coins for the coin lovers. Each token issued on the LBCoin Platform will depict one of the 20 signatories and will be segregated into six different categories based on their profession. A total of 4,000 tokens shall be reserved for each of the six groups. On purchasing the digital coin, the purchasers will get six randomly selected digital tokens. A collector having a token from each of the 6 categories will be allowed to redeem a physical silver coin that will not be out for sale for the public.

These digital coins will be stored in a highly secured wallet system available for access at the LBCOIN e-shop. They can be used by the owners as a gift or can be exchanged with other collectors or transferred to a public NEM wallet, which can be redeemed as a physical silver coin at any time of convenience by the holder.

Through the digital collector coin, the bank is striving to uplift the Central Bank and international organizations’ trust, understanding, and usage of virtual currencies. It helps to do research and testing of blockchain-based services on the financial space. The team aims to enrich a better and in-depth knowledge of the numismatics arena and lay special emphasis on imbibing the habit of coin collection in the younger generation through gamification and play activities for them. The digital collector issuance is a strategic step in the field of innovation and fintech.

The NEM team is happy to work closely with the SI partners of bank of Lithuania, iTree Lithuania, and SuperHow to fuel digital currency adoption and tokenization rate via its NEM NIS1 chain ecosystem. NEM Symbol APIs offer easy collaboration with present enterprise systems catering to the needs of the developers. LBCoin Platform will transition to Symbol in the later phase of 2020 when its public version becomes accessible for the public.

You can choose the service offered by the ‘Bitcoin Circuit’ trading software to enjoy profitable investments. The automated trading software studies the market trends and helps users take advantage of potent offerings without missing any lucrative chance of earning.

Source: https://www.cryptonewsz.com/bank-of-lithuania-teams-up-with-nem-blockchain-to-launch-lbcoin-for-coin-collectors/

Blockchain

Bitcoin Exchange Outflow Continues as On-Chain Support Settles at $47K

Republished by Plato

Published

on

On-chain analytics provider, Glassnode, has revealed that there is solid support at the $47,000 level for Bitcoin. It came to this conclusion in its latest ‘Week on Chain’ report using analysis from chart guru Willy Woo and data scientist Rafael Schultze-Kraft (@n3ocortex).

It added that Woo noted a significant volume of BTC was transacted on-chain around $45,000, forming an on-chain support level late last week.

Schultze-Kraft highlighted that this support level has actually strengthened to rest above $46.6k, with 1.2 million BTC, or 6.5% of circulating supply, transacting in this zone.

Is BTC Accumulation Increasing?

Glassnode pointed out that the patterns suggest an increase in accumulation interest at these levels:

“When a large volume of coins move on-chain and an on-chain support level holds, it suggests that there is significant accumulation interest and buyers see it as a ‘value’ entry point.”

However, it also noted that should price fall below this support level, it would become a level where overhead supply may form equally strong resistance.

ADVERTISEMENT

Using the UTXO Realized Price Distribution metric, which shows which prices the current set of Bitcoin unspent transaction outputs were created, the on-chain support level at $47k is the largest since prices were $11k, it added.

“This range now represents one of the largest on-chain BTC accumulation levels in history, certainly the largest since the last cycle’s $20k ATH was breached.”

The balance of Bitcoin on exchanges also continues to decline which could indicate readying to sell or hodling in cold wallets. The report added that throughout February the rate of miner sales was declining, whereas today, it is almost net neutral meaning that miners could be accumulating also.

Bitcoin Price Update

At the time of press, Bitcoin was changing hands for $54,150 according to Tradingview which has reported a 24 hour gain of almost 7%.

It is the highest the asset has traded since Feb. 22 when it was falling back from the all-time high of $58,250 the previous day. Bitcoin is currently facing resistance here and needs to break above $55,900 to make a move towards a new ATH.

On the downside, support can be found in the $48,000 region however BTC is currently in the process of forming its fifth green candle in a row so the bulls are running the show at the moment.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://cryptopotato.com/bitcoin-exchange-outflow-continues-as-on-chain-support-settles-at-47k/

Continue Reading

Blockchain

Coinbase is Valued at $100 Billion Before Direct Listing on the Nasdaq

Republished by Plato

Published

on

Coinbase has yet to go public, and the markets are already on fire in anticipation of the most awaited direct listing in the cryptocurrency world and the what will be the first major listing ever recorded on the Nasdaq.

An independent valuation based on the price of its shares in private markets determined that Coinbase has a potential valuation of between $90 billion and $100 billion before its direct listing.

During its Pre-Listing Days, Coinbase Went Up

According to activity in late February, this price would far exceed a previous valuation of $77 billion. At the time, confidential sources told Coindek that as the “big day” approached, speculators were bidding higher and higher on the stock.

“The third weekly transaction closed on Friday and the clearing price was $303 a share. The first week it was 200 bucks a share, the second week it was $301 a share, and the third week it was $303 a share. So you can kind of see price discovery happening.”

Bloomberg reported that, during the last day of private trading before the direct listing, investors traded Coinbase stocks at a range between $350 to $375, which would raise Coinbase’s valuation by as much as 33% in a matter of weeks, and over 300% higher than what analysts expected for its IPO (priced at just $28 million).

Before going public, credited investors could trade Coinbase shares on the Nasdaq Private Market, a restricted market with low volume and high volatility, where a limited number of participants can speculate on the price of some shares of companies that are not yet publicly traded.

ADVERTISEMENT

The numbers, however, do add up to its expected performance. After registering a bad year during the bear period of the crypto markets back in 2018, Coinbase grew to become the colossus it is today.

A Small Step for a Crypto Exchange, a Giant Leap for the Crypto Industry

Due to its characteristics, the private market is not necessarily an accurate indicator to determine what will happen when Coinbase becomes publicly available; however, it is an excellent reference to see what the markets expect to happen… And the future looks promising.

And we’re not just talking about Coinbase, but almost the entire cryptocurrency ecosystem. Coinbase going public is one of the most significant supports for the crypto industry in recent times.

The United States is one of the countries with the highest volume of exchange trading, has one of the world’s largest GDPs, concentrates a significant number of cryptocurrency startups, and yet is known for having strict laws when it comes to digital assets.

A stock exchange listing could provide an additional layer of legitimacy in the eyes of potential new users, stimulating the growth of its customer base. This would simply accelerate a trend that has been growing over time, especially in the aftermath of the COVID-19 market crisis.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://cryptopotato.com/coinbase-valuation-100-billion-usd-before-direct-listing-nasdaq/

Continue Reading

Blockchain

Bitcoin price cracks major resistance as analyst eyes $70K ‘destiny’

Republished by Plato

Published

on

Bitcoin (BTC) tackled pivotal $52,000 resistance overnight on March 9 to come within 6% of historical all-time highs.

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

BTC price hits 2-week highs

Data from Cointelegraph Markets and Tradingview showed BTC/USD hitting local highs of $54,500 on Tuesday.

The latest attempt to break out of its sideways trading corridor, the move was still consolidating at the time of writing. Amid heavy volatility, a retracement on the day targeted $53,500 — still above crucial resistance.

As Cointelegraph reported, analysts were eyeing $52,000 as a line in the sand for securing the next stage of the Bitcoin bull run.

While the weekend produced healthy upside, Bitcoin had still to cement even $50,000 as strong support as the week’s trading began.

On the back of 24-hour gains topping 8%, however, the picture on Tuesday was fast improving, after evidence showed that $47,000 had become conspicuously strong support.

“Bitcoin jumps >$54k aided by more signs of institutional interest in the largest cryptocurrency,” markets commentator and contributor to German news daily Die Welt, Holger Zschaepitz, summarized to Twitter followers.

“Institutional interest sets the latest bull run apart from 2017’s retail-driven surge, Goldman says. Much of the institutional demand has been driven by fears around asset devaluation.”

Zschaepitz was referencing findings from Goldman Sachs, which among other things also revealed that 40% of its own clients already have exposure to cryptocurrencies.

Analyst on $70,000 Bitcoin: “Destiny awaits”

The institutional picture became even more bullish on Monday after one of Norway’s richest people launched a Bitcoin-focused spin-off firm using BTC as its sole treasury asset.

“Bit­coin can be ver­i­fied, di­vid­ed, re-as­sem­bled, stored, and trans­port­ed at vir­tu­al­ly no cost. It’s the per­fect scarce digi­tal as­set. By de­sign,” Kjell Inge Røkke wrote in a widely-circulated shareholder letter.

“All that’s re­quired to keep the net­work run­ning, is al­lo­cat­ing the cheap­est elec­tric­i­ty in the world. Elec­tric­i­ty se­cures the net­work. No trust­ed par­ties or peo­ple with guns are need­ed. I call that progress.”

Elsewhere, hodlers were watching a bullish setup unfold in Bitcoin’s daily moving average convergence/ divergence (MACD) indicator, which on Monday was primed to repeat behavior which previously resulted in February’s march to $58,300 record highs.

BTC/USD 1-day candle chart (Bitstamp) with Fibonacci levels. Source: filbfilb

“Destiny awaits,” Cointelegraph Markets analyst filbfilb added in an update to Telegram channel subscribers, highlighting a target area of $70,000 and higher using Fibonacci levels.

Invest w Mintos
Source: https://cointelegraph.com/news/bitcoin-price-cracks-major-resistance-as-analyst-eyes-70k-destiny

Continue Reading
Blockchain4 days ago

How to Protect Yourself from the Cryptojacking Threat

Blockchain22 hours ago

ETC Group adds Ethereum ETP on Deutsche Borse

Blockchain4 days ago

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

Blockchain4 days ago

Experts divided on BTC predictions: Bullish or super bullish?

Blockchain4 days ago

BitGo To Introduce Crypto Custodial Services To New York Clients

Blockchain4 days ago

Ethereum gas fees drop as daily DEX and DeFi volumes decline

Blockchain4 days ago

Mark Cuban’s Dallas Mavericks to Accept Dogecoin Payments

Blockchain5 days ago

XRP Price Analysis: 04 March

Blockchain16 hours ago

NYDIG raises $200 million from strategic partners to work toward Bitcoin-focused initiatives

Blockchain4 days ago

Analyst tells Tesla to dump Bitcoin for buybacks as shares plunge alongside MSTR’s

Blockchain4 days ago

Thailand’s largest movie theater chain accepts Bitcoin

Blockchain4 days ago

TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

Blockchain4 days ago

Decentralized Companies Are the New Norm and It’s the DAO Revolution That’s Making It Possible

Blockchain4 days ago

Binance Coin, Neo, Enjin Price Analysis: 05 March

Blockchain22 hours ago

Norwegian Oil Mogul Sets Up $58 Million Entity to Buy Bitcoin

Blockchain4 days ago

Co-founder of Floyd Mayweather-promoted ICO sentenced to 8 years

Blockchain5 days ago

Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

Blockchain3 days ago

PAID Crashes 70% In Minutes as Network Purportedly Exploited

Blockchain1 day ago

Charted: Uniswap’s UNI Enters Top 10, Why It Could Soon Test $42

Blockchain1 day ago

What’s in store for SushiSwap in 2021?

Trending