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CryptoCasinos predicts crypto-gambling trends for 2021

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The 2020 COVID-19 pandemic proved the crypto-market’s volatility wasn’t as unpredictable as traders initially assumed. Cryptocurrencies are a growing trend among online casino and sportsbook operators, and it’s easy to see why digital currencies have experienced such remarkable success.

Bitcoin casino sites and betting platforms exclusively using cryptocurrencies for transactions face fewer fees and are outside institutions’ regulations. Blockchain brought a secure and untraceable ledger to the online gambling industry. Outside regulators cannot track blockchain transactions, adding appeal to the security digital currency offers.

Will Crypto Gambling Continue After COVID Disappears?

People are hopeful that cryptocurrency gambling will remain popular, even after eradicating COVID-19 with a vaccine. Without COVID-19 posing health dangers, loyal brick and mortar casino gamers are expected to make their way back into land-based establishments. Cryptocurrency is transitioning from being available exclusively online to the mainstream market. Crypto gambling has caused a commotion among lawmakers and financial institutions who cannot reap crypto’s benefits, thanks to blockchain’s decentralized platform.

Sportsbooks have enormously benefited from blockchain’s lack of regulations. Since most sports betting platforms don’t want to involve third parties anyway, blockchain and cryptocurrencies presented an opportunity that couldn’t go overlooked. Cryptocurrency has added competition within the casino industry and virtual sports betting community by introducing crypto-exclusive casinos and gambling venues.

For the first time, players had an advantage above the house, in addition to a higher return rate. Blockchain and crypto gambling revolutionized the online casino sector.

Bringing Crypto Sports Betting to the Futures Market

Wall Street has notoriously manipulated the futures market to act as its personal casino for gainful profit. Ties between the finance and sports betting sectors were inevitable, thanks to recent attempts to regulate the market. If crypto sports betting is added to the futures market, traders are expecting more outside interference from centralized parties. Crypto sports betting is a hot and controversial topic among financial moguls and institutions. Lawmakers have extended their reach to ban gaming contracts that benefit sports leagues, but cryptocurrency and blockchain transactions aren’t subject to the same rules as fiat currency.

ErisX leaders have raised concerns about crypto sports betting meeting the criteria for fortunes. ErisX believes crypto sports betting futures deserve a rightful place within the market, so it formally submitted a request to the Commodity Futures Trading Commission for approval. If ErisX’s proposal is approved, the crypto market’s foundation will experience an unprecedented shock.

Sportsbook players have criticized ErisX’s proposal, stating the measure would trigger further third-party regulations. Regulating blockchain’s platform and introducing cryptocurrencies to the mainstream market would ruin crypto sports betting’s best features.

Technology fueling advancements in Online Casinos and Sports Betting Exchanges

Experts predict that the online crypto casino and sportsbook market will increase by fifteen percent by 2025. Small entrepreneurs seemingly have taken to producing privately owned cryptocurrencies with the hopes of taking the market by storm.

Dogecoin initially began as an internet joke, but thanks to Elon Musk and Reddit crypto traders, its value spiked. The gambling industry continually strives to keep up with technology’s incredible advancements to empower the community for years to come.

Blockchain’s platforms have introduced new possibilities to prediction markets for e-sports and similar betting platforms. Ethereum’s blockchain enables sportsbook players to use real-time data to make strategic bets. CryptoCasinos.com is the best place to find essential updates regarding several areas of crypto gambling. Besides slowly showing their worth to worldwide markets, cryptocurrencies are also demonstrating their clear dominance in the field.

Disclaimer: This is a paid post and should not be treated as news/advice

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/cryptocasinos-predicts-crypto-gambling-trends-for-2021

Blockchain

Cathie Wood’s Ark Funds Now Hold Over One Million Coinbase Shares 

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Cathie Wood’s Ark funds has purchased a total of $352 million worth of Coinbase shares, two days after making its debut on the Nasdaq stock exchange under the ticker, COIN. 

Ark Funds’ COIN Acquisition Spree

Citing data received by email, Bloomberg reports today that Wood’s funds, including the Ark Innovation ETF, Ark Fintech Innovation ETF, and Ark Next Generation ETF together added 341,186 COIN to their holdings yesterday. 

This is the second investment in a roll that Wood’s Funds have made in Coinbase. Ark’s funds earlier purchased 749,205 Coinbase shares moments after it went live on Nasdaq. The shares were acquired at approximately $250 million, with each unit priced around $333.67. 

With the latest acquisition, Wood’s funds now hold a combined 1,090,388 Coinbase shares, valued at around $352 million, at the time of writing. 

According to Bloomberg, the emailed data suggests that Ark funds sold some of its stake in New York Stock Exchange owner Intercontinental Exchange for two consecutive sessions. 


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Wood Receives Indirect Bitcoin Exposure

Despite its large purchase of Coinbase shares, Tesla stock (TSLA) remains the top holdings of Wood’s funds even after selling about $170 million worth of shares of the electric car company. 

Ark funds’ investments in Coinbase and Tesla, increase their indirect exposure to bitcoin and other cryptocurrencies. 

As reported, the American electric car company had purchased $1.5 billion worth of bitcoin in February 2021, thus boosting the cryptocurrency’s popularity among various institutional investors and wealth managers. 

Coinbase Performance on Nasdaq

Coinbase has continued to gather attention globally following its direct listing on Nasdaq on Wednesday. Even after getting a reference price of $250 for a unit of its share, COIN opened at $381 and subsequently surged to $429.54, before retracing back to $310. 

The share closed around $328.28 on Wednesday, which saw the popular crypto trading firm’s market cap set at $85.8 billion. 

Unfortunately, the stock slumped further on Thursday and closed 1.7% lower, bringing the exchange’s value below 43% of the $112 billion it hit in its debut.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/cathie-woods-ark-funds-now-hold-over-one-million-coinbase-shares/

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Turkey to Ban Cryptocurrency Usage as Payment Instruments From April 30

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Turkey’s government has introduced a new regulation that will prohibit cryptocurrency assets from being used as payment methods as of April 30th, citing significant risks. Nevertheless, banks are excluded from the legislation, meaning that users can still deposit the Turkish Lira on crypto exchanges through their banking accounts.

Turkey’s Ban on Crypto Usage as Payment Methods

According to the official statement from the Central Bank of the Republic of Turkey, the country plans to implement a new regulation on interacting with cryptocurrencies starting from April 30th.

Essentially, it will prohibit cryptocurrency investors from utilizing their holdings as instruments for payments or to use them “directly or indirectly in the provision of payment services and electronic money issuance.”

The last part means that payment providers will also be banned from providing cryptocurrency-related services. The bank listed numerous security risks connected with digital assets as the primary reasons behind the new regulation.

Those include lack of “regulation and supervision mechanisms,” severe market volatility, alleged usage in illicit activities, and irrevocable transactions.


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“Recently, some initiatives have emerged regarding the use of these assets in payments. It is considered that their use in payments may cause non-recoverable losses for the parties to the transactions due to the above-listed factors, and they include elements that may undermine the confidence in methods and instruments used currently in payments.” – reads the statement.

It’s worth noting that banks are exempt from this regulation, and users can still deposit the Lira on exchanges using wire transfers from their banking accounts.

CryptoPotato recently reported the rapidly increasing demand for bitcoin in Turkey. After President Tayyip Erdogan removed the governor of the central bank, the Lira plummeted by 15% in a day against the dollar. At the same time, the number of BTC Google searches and transactions on peer-to-peer exchanges skyrocketed.

Turkey Behind Today’s Price Slumps?

Shortly after the statement from Turkey’s central bank today, the cryptocurrency market sharply tanked in value, raising the question if the FUD coming the country could be behind the adverse developments.

Bitcoin traded at nearly $64,000 before a sharp price drop drove it south by roughly $3,000. Ethereum followed with a nosedive of its own, and so did most alternative coins. Ultimately, the cumulative market capitalization of all crypto assets lost more than $80 billion since yesterday’s high and dipped beneath $2.2 trillion briefly.

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Source: https://cryptopotato.com/turkey-to-ban-cryptocurrency-usage-as-payment-instruments-from-april-30/

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$600 Million in BNB Gone: Binance Completes the 15th Token Burn

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Binance announced the completion of the 15th BNB burn earlier today of just shy of 1.1 million tokens. Although the amount in coins has substantially declined compared to the past several such events, it set a record in terms of USD with almost $600 million. 

  • The announcement from the Malta-based cryptocurrency exchange from earlier today reads that the company has completed the 15th quarterly BNB token burn “in accordance to the Binance whitepaper.” 
  • The amount of coins destroyed is 1,088,888. Interestingly, this is actually the fourth-smallest amount burnt in terms of BNB and is considerably less than the previous event – 3,619,888 BNB. 
  • However, the price growth of Binance’s native token has helped it set a new ATH in terms of the US dollar. The company said the 15th BNB token burn was worth $595.3 million.  
  • The popular crypto exchange has vowed to buy and destroy BNB worth a certain percentage of its quarterly profits until it brings down the token supply to 100 million. After the latest event, the BNB supply is down to 154.5 million.  
  • Binance Coin is among the best performers price-wise since the start of the year. BNB entered 2020 beneath $40 but has rapidly appreciated in value. 
  • CryptoPotato reported the latest record reached earlier this week when the cryptocurrency skyrocketed to $640.  
  • Although BNB has fallen by more than $100 since then and currently trades just shy of $520, it’s still up by about 1,200% YTD. 
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/600-million-in-bnb-gone-binance-completes-the-15th-token-burn/

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