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DeFi Project KingSwap launches Visa Debit Card Globally

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KingSwap’s Visa debit card offers no annual fees or foreign transaction fees, with rewards of up to 3% back on all deposits

SINGAPORE, Jan. 18, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) – DeFi project KingSwap (https://www.kingswap.io/) today announced the launch of its Visa debit card, available globally. The card offers no annual fees or foreign transaction fees, with rewards of up to 3% back* on all deposits. Accepted anywhere that Visa is accepted, KingSwap’s debit card uses a tier one bank and its distributors for payment processing and banking solutions.

KingSwap’s Visa debit card features a sleek, high-end metal design and entitles card holders to perks including high-yield rewards. By owning one of these debit cards, users will be able to purchase cryptocurrencies with lower fees on the KingSwap platform. They’ll also gain access to benefits and products through KingSwap’s partnerships.

KingSwap’s Visa debit cards are limited in quantity, and available on a first-come, first-serve basis for users who have completed KYC verification and begun staking on KingSwap. To request a KingSwap Visa debit card, users can sign up here and complete ID verification. Applicants will be notified when their card is ready to ship.

KingSwap will release four tiers of Visa debit cards, starting with the King’s Royal Black Card, followed by the Queen Platinum Card, Royal Knight Gold Card, and Blue Squire Card. To acquire a KingSwap Visa debit card in the King’s Card tier, users are required to stake a minimum of 1 King NFT, with an additional 1,000,000 $KING Tokens staked on the KingSwap decentralized exchange (DEX). Queen Platinum Cards require a minimum stake of 1 Queen NFT and 100,000 $KING tokens. KingSwap’s Royal Knight Card and Blue Squire Card offer a lower entry point to the KingSwap ecosystem, allowing users to stake a small amount of $100-$500 USD and still see significant rewards, including 1 percent back on all deposits.

KingSwap Visa Debit Cards are loaded with fiat rather than digital assets, and all transactions are denominated in fiat currency. Use of the card is subject to terms and conditions of the applicable cardholder agreement, and may be subject to fees such as ATM fees.

KingSwap was founded by a team of experienced leaders in banking, finance, and crypto, including Dr. Anish Mohammed, who has advised and worked for companies including HSBC, Lloyds, and Zurich, and was an early advisor to Ripple and Ocean Protocol; Dunstan Teo, Chief Architect of the Fido Protocol and President of Sanctum Pte Ltd.; and Ho Chin Shin, who previously worked as a director at Standard Chartered Bank; Nomura, Japan’s largest investment bank; and the Bank of Singapore.

Prior to KingSwap’s public launch in October 2020, venture capital firms and cryptocurrency investors participated in a private fundraising round, raising more than $20 million USD in funding and liquidity support. KingSwap’s backers include Plutus VC, Hashstreet VC, Alpha Sigma Capital, Tradecraft Capital and 7CC.

ABOUT KINGSWAP
KingSwap (https://www.kingswap.io/) is a DeFi project based out of Singapore with a regulated** token that introduces a liquidity pool platform with possible fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles.

Source: https://e-cryptonews.com/defi-project-kingswap-launches-visa-debit-card-globally/

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SingularityNET Partners With Ocean Protocol Prior to the AI-Based DeFi Fund Launch

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[Press Release – Amsterdam, Netherlands, 18th May 2021]

SingularityNET’s first DeFi spin-off project, SingularityDAO, is announcing today their partnership with leading decentralized data provider Ocean Protocol.

The collaboration will see the OCEAN token’s inclusion in SingularityDAO’s index fund/investment portfolio. Moreover, SingularityDAO is designed to leverage AI at multiple levels: AI manages dynamic token-sets, executes predictive market-making strategies to provide liquidity for these token-sets on DEXs, and predictively models hedging strategies.

All this AI requires a lot of data to learn and improve, which is why SingularityDAO is a natural user of Ocean data sets – data sets published via Ocean Market (and other Ocean-based markets) into the Ocean ecosystem. The Ocean ecosystem is host to many diverse and varied trading and DeFi data sets. These make excellent candidates for consumption by SingularityDAO’s AI agents to enhance its financial modeling.

I’m really excited by the opportunity to work together with Ocean Protocol, one of the most respectable projects in crypto that has been constantly delivering community-driven, decentralized data solutions. SingularityDAO will constantly make use of data to train our ML and I can’t think of a better partner than Ocean Protocol. – Marcello Mari, CEO at SingularityDAO

The news follows the successful completion of a total of $5.2 million raised in three different rounds for the highly anticipated Governance Generation Event on MANTRADAO, which reached its hard cap within less than 2½ hours.

The protocol, described as ‘DeFi meets decentralized AI,’ held the event exclusively for SingularityNET $AGI holders and attracted 5,800 registrations in one week. The token sale raised $1.6 million (8,000,000 SDAO).
The successful Governance Generation Event follows a recent private sale wherein SingularityDAO raised $2.7 million of funding from a number of top-tier investors such as AlphaBit, Marshland Capita, GBV, and SMO Capital. SingulariyDAO’s governance token has been generated on May 13th and distributed on the same day. It is currently trading on Uniswap.

About SingularityDAO

SingularityDAO is a decentralized platform, governed by the SDAO token, tasked with governing DynaSets. DynaSets are diversified baskets of cryptocurrency assets dynamically managed by AI and curated by the protocol. SingularityDAO brings the financial sophistication of AI-managed funds to DeFi, deploying SingularityNET’s AI technology to navigate complex markets.

About Ocean Protocol

Ocean Protocol’s mission is to kickstart a Web3 Data Economy that reaches the world, giving power back to data owners and enabling people to capture value from data to better our world.
Data is a new asset class; Ocean Protocol unlocks its value. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/singularitynet-partners-with-ocean-protocol-prior-to-the-ai-based-defi-fund-launch/

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Bought the Dip? MicroStrategy Purchased $10M in Bitcoin at $43.6K

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Michael Saylor’s NASDAQ-listed company continues with its initiative to purchase sizeable amounts of bitcoins at frequent intervals. The firm said earlier today it had allocated another $10 million in cash in BTC, and its total stash is over 92,000 coins.

  • The founder and CEO of the business intelligence giant announced the latest purchase on Twitter earlier on May 12th.
  • It reads that the firm has bought 229 bitcoins for $10 million in cash at an average price of $43,663 per coin.
  • Keeping in mind the multiple purchases made since August 2020, the firm holds 92,079 bitcoins. MicroStrategy has paid $2.251 billion for its stash, with an average price of $24,450 per token.
  • Although this is far from being the largest single acquisition, as the company once bought more than $1 billion worth of BTC, this one actually comes in a compelling moment.
  • In fact, buying 10 million coins at an average price of $43,663 means that MicroStrategy has taken advantage of a popular narrative in the crypto community – buy the dip.
  • The price of the primary cryptocurrency has suffered severely in the past week or so after Elon Musk announced that Tesla has stopped receiving BTC payments for its electric vehicles.
  • In a matter of days, bitcoin fell from over $58,000 to a three-month low of $42,000.
  • Although losing $16,000 of value in less than a week could be considered a major blow, and some investors disposed of their coins even at a loss, MicroStrategy has reaffirmed its promise to continue buying bitcoin as part of its reserve treasury strategy.
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/bought-the-dip-microstrategy-purchased-10m-in-bitcoin-at-43-6k/

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Bitcoin’s price could drop to $29,000, claims CNBC’s Carter Worth.

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In an appearance on the CNBC network’s Fast Money segment on Monday, Carter Worth, chief market technician of Cornerstone Macro, warned that the BTC bottom might be far from in. Bitcoin could drop to $29,000 and still be testing current support in line with past dips, he claimed. Analyzing recent price activity and comparing it to past Bitcoin bottoms, Worth said that current levels at around $45,000 represent the top of a support zone.

$45,000 represents the top of a support zone. 

“Were we to go down 55%, we’d be in the lower end of support,” Carter Worth summarized. “I think we’re in support — it’s fighting, but my hunch is it goes lower.” A 55% drop from current all-time highs would mean BTC to bottom out at just above $29,000. For Worth, this is a useful reference point, as 55% marks the average of every major price dip of 30% or more since 2011. However, as Twitter users noted, his calculations include events such as the 80% decline from all-time highs in 2017 — a process that took over a year to unfold.

Elon Musk’s tweets continue to trigger bitcoin prices. 

Elon Musk’s tweets once again seem to trigger the price of the leading cryptocurrency bitcoin and other cryptocurrencies. Earlier, Tesla CEO Elon Musk had announced that Tesla has decided to suspend short-lived bitcoin payments for its electric vehicles. The announcement caused bitcoin’s price to fall. However, this was not the only instance that triggered bitcoin prices. Later, Elon Musk replied to a tweet claiming Tesla might sell its bitcoin holdings by saying “indeed,” which started rumors about Tesla selling off its bitcoins holdings. However, Elon Musk later clarified that Tesla had not sold its bitcoin holdings.   

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://chaintimes.com/bitcoins-price-could-drop-to-29000-claims-cnbcs-carter-worth/

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