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Ethereum Competitor Announces $230,000,0000 Token Sale After Surging 80% This Week

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An Ethereum competitor has surged nearly 60%, hitting its all-time high this week, even while the majority of other crypto projects have moved sideways on the price charts.

The smart contract platform Avalanche (AVAX) is trading at $65.02 at time of writing, having achieved an all-time high of $68.34 at one point on Thursday, according to CoinGecko.

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The Avalanche Foundation also announced on Thursday that it had completed a $230 million private token sale to a slew of blockchain asset investment firms, crypto hedge funds, angel investors, and family offices, including Polychain Capital and Three Arrows Capital.

The foundation plans to allocate this money into expanding decentralized finance (DeFi), enterprise applications, and other use cases on the Avalanche public blockchain. The sale was completed in June.

According to Avalanche Foundation director Emin Gün Sirer,

“Despite being years younger than its peers, Avalanche has quickly turned promise and potential into real-world impact and value creation for DeFi users and developers.

The community of builders rallying around the network is a testament to its competitive edge, and there is still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.”

Recent research from the early-stage venture capital firm Outlier Ventures indicates that Avalanche has demonstrated explosive growth in terms of developer activity during the past year.

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Source: https://dailyhodl.com/2021/09/17/ethereum-competitor-announces-2300000000-token-sale-after-surging-80-this-week/

Blockchain

Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Peter Thiel, the billionaire founder of Palantir and co-founder of PayPal, is doubling down on Bitcoin. 

Peter Thiel: Bitcoin Is The “Most Honest Market”

Bitcoin has climbed back past $60K after its early 2021 parabolic run slowed. The bitcoin price has added 2.79 percent over the last 24 hours, taking it within touching distance of its all-time highs. BTC hit $64,490 on Tuesday — just shy of the 64,804 high set in April.

BTCUSD Chart by TradingView

Thiel claimed that the world’s largest cryptocurrency by market cap topping the $60,000 mark was a very optimistic signal.

“I don’t know that you should put all your money into bitcoin at $60,000 a bitcoin right now. But surely the fact that it is at $60,000 is an extremely hopeful sign,” Thiel said recently during a conference hosted by the Stanford Federalist Society.

Bitcoin’s fresh rally comes as the first-ever bitcoin-linked exchange-traded fund (ETF) is greenlighted in the United States. The ProShares Bitcoin Strategy Fund launched on the New York Stock Exchange under the ticker BITO with an opening price of $40.88. The bitcoin futures-based ETF registered over $1 billion of trading volume on its first day, making it the largest in terms of “natural” volume. 

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The venture capitalist went on to describe bitcoin as the “most honest market” in the U.S. He touted the crypto’s latest price rise as the “canary in the coal mine”, which might suggest that the current “decrepit” regime is on the verge of exploding. 

“It’s the canary in the coal mine. It’s the most honest market we have in the country, and it’s telling us that this decrepit regime is just about to blow up.”

Thiel, an outspoken Silicon Valley supporter of former US President Donald Trump, harbors the opinion that the Biden administration is shaping up as an absolute “catastrophe”.

Thiel has been known for his interest in the crypto space. His billion-dollar big data analytics company Palantir already accepts bitcoin as a payment option. Moreover, he earlier declared that Bitcoin could become a financial weapon for China against the United States. Thiel has also opened a Bitcoin mining facility in West Texas.

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Source: https://zycrypto.com/billionaire-peter-thiel-thinks-bitcoin-crossing-60000-is-a-pretty-hopeful-signal-heres-why/

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Blockchain

XRP Lawsuit: XRP Holders approach the court regarding the expert discovery extension dispute

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The latest development in the XRP lawsuit saw Attorney Deaton write to Judge Torres on behalf of Movants (XRP Holders) to consider the community’s “meaningful perspective” to aid the Court in “reach[ing] a proper decision” in Expert discovery deadline extension dispute. The letter noted that while the court formerly denied Movants’ Motion to Intervene in lieu of SEC’s argument that it will “hopelessly delay” the final verdict, the plaintiff now itself is appealing for a two-months delay with the extension.

XRP Holders appeal access to their funds

Deaton’s letter also refers to Ripple’s opposition to the commission’s expert discovery deadline extension request. According to the letter, Ripple’s argument regarding the “freezing” of XRP markets within the United States impacts Ripple, however, it also directly impacts the XRP holders. Deaton cited Ripple’s argument that “nearly every digital asset exchange in the United States” has de-listed or suspended trading of XRP, leaving XRP holders helpless.

Furthermore, a large sum of XRP Holders holds XRP in retirement brokerage accounts, which have also been “frozen” because of the SEC’s claims, alleging XRP to be an unregistered security. XRP holders are unable to touch their funds in any manner, including the inability to withdraw, due to the ongoing lawsuit.

“The lack of liquidity within the United States, coupled with the mass de-listings prevents XRP Holders from trading, selling, transferring, or converting their XRP. It is because of this de facto in place seizure of their property that XRP Holders took the extraordinary step to seek intervention as defendants… Any delay in the underlying action marks yet another day XRP Holders do not have access to their funds.”

Ripple opposition letter mentions frozen XRP markets

Following the SEC’s letter seeking a two-month extension of the Court-ordered expert discovery deadline, Ripple filed an opposition letter on October 18, requesting the court to deny SEC’s extension appeal to prevent further delay in the final verdict. Ripple asserted that extending expert discovery to January 2022 will “unduly prejudice” Ripple and continue to “freeze” XRP markets in the United States.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Source: https://coingape.com/xrp-lawsuit-xrp-holders-approach-the-court-regarding-the-expert-discovery-extension-dispute/

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Blockchain

Facebook is Planning a Rebranding of its Name, Here’s the Crypto Connection

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Facebook, the world’s largest social media platfrom is reportedly looking for a rebranding of its name in the coming week, as per a report published in The Verge. The Verge report cited an insider with direct knowledge of the matter. The report indicates that Mark Zukerberg is focused on rebranding Facebook to project it more than just a social media platform, with the main focus on Metaverse.

Metaverse seems to have got Zukerberg’s attention completely and insiders claim he wants to be known as the key architect of the metaverse. Metaverse is the next level in the NFT mania where everything would have a digital avatar rather than just specific brands. The rebrand would reportedly place Facebook’s iconic blue app among several others under a parent company.

Zukerberg seems to be smitten by the crypto bug since 2019, but after the failure of Diam previously known as Libra, Facebook aims to become a leader of the metaverse. The social media giant has already hired 10,000 staff that are working towards the development of consumer hardware like AR glasses that Zukerberg believes would be as common as smartphones in the age of Metaverse.

Facebook Keeps its Crypto Dreams Alive

The first digital asset from the social media giant that also involved a rebranding didn’t go as planned. The Libra stablecoin project from Facebook was launched with a similar hype and promises to change the digital asset market but it never lifted off despite industry big wigs such as Paypal and Mastercard being key partners.

While Libra faced critical bashing from the US Congress and regulators around the world, Metaverse dreams could give the much-needed breakthrough in the digital decentralized world. Facebook launched its digital wallet service NOVI earlier today which would play a key role in the metaverse. However, Facebook must be wary of the regulators as US Congress asked the social media giant to give up on its digital dreams deeming it non-trustworthy.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coingape.com/facebook-is-planning-a-rebranding-of-its-name-heres-the-crypto-connection/

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