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New to the Street – March 28th | Tonix Pharmaceuticals, Winston Gold, Ehave Inc, Paypolitan

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Tonix Pharmaceuticals with Dr. Seth Lederman, CEO and President. Doctor Seth discusses with Jane the ongoing development of TNX-1800 and the positive results after vaccination of non-human primates.

Winston Gold with CEO Murray Nye and Executive Chairman Joseph Carrabba discuss underground stope development. They also are increasing from the current 90 to 120 tons per day. Murray also goes on talking about getting the mill up to that rate. Joseph updates on the mill and equipment upgrades including a new wilfley table and expanding to 7 days a week with a night shift. Joseph also talks about finalizing the contracts for the upcoming sale of gold, silver and copper.

Ben Kaplan CEO of Ehave Inc. talks about digitizing health records and how Ehave is using blockchain and smart contracts to protect and award consumers for their data.

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Source: https://exploringtheblock.com/new-to-the-street-march-28th-tonix-pharmaceuticals-winston-gold-ehave-inc-paypolitan/

Blockchain

Our Man in Shanghai: Coinbase listing scorned, graphics cards seized, nostalgia coins rule

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It was a relatively quiet week in China’s blockchain space as events were overshadowed by the surge in the BTC price and the Coinbase direct listing in the U.S. Many locals reacted with surprise to the news, showing that exposure to cryptocurrencies is still relatively isolated in the world’s most populous country.

Many netizens responded skeptically to the Coinbase story, with news aggregation account “Jiemian” on Weibo calling Bitcoin a scam, highlighting its connection to terrorists, and encouraging investors to stick to China’s A-shares. (For a quick comparison, the Shanghai composite index is down 2.13% this year, while Bitcoin has a YTD return of over 116%.) Jiemian has over 10 million followers on Weibo, but caters to a more traditional audience. The takeaway here is that despite China’s aggressive adoption of DCEP (Digital Currency Electronic Payment, also known as the digital yuan), other digital payments, and internet technology, cryptocurrency acceptance remains relatively isolated.

Some experts on China’s blockchain industry spoke to Cointelegraph regarding DCEP on April 10th, discussing how the digital yuan has affected the space. Kevin Shao, co-founder of Bitrise Capital, summed up the situation by stating that “overall, China’s digital currency still serves the central bank’s monetary policy and monetary functions.” It’s safe to say that the rapid DCEP advancement has little cross-over with the country’s active blockchain space, and probably will remain independent for the foreseeable future.

While all that was going on, volumes were spiking on cryptocurrency exchanges around the world. Huobi, China’s largest exchange by liquidity, experienced a wave of trading on more established tokens. The top seven most traded on Thursday were BTC, DOGE, ETH, XRP, FIL, TRX and BCH. All of these projects have roots in previous bull runs, showing that nostalgia is not lost on Chinese investors.

Graphics cards seized by Hong Kong Customs

Customs in Hong Kong have busted a smuggling operation involving nearly 300 graphics cards, which are suspected to be Nvidia CMP 30HX models and worth about 2 million RMB, or $300,000. There were no labels on the front of the graphics cards, and this particular model comes without a video output port, and is built exclusively for cryptocurrency mining. According to a source, this is the first time that Hong Kong Customs has seized graphics cards smuggled for the purpose of mining.

The state of media blockchain content

Finally, in policy news, The State Administration of Radio, Film and Television issued standards for blockchain-related media content. The standard system is intended to promote healthy and sustainable content pertaining to the use of blockchain in industries such as auditing systems, business processes, food safety and management. The State Administration is very proactive with its standards, detailing how technologies, trends, and other themes should be portrayed in the media.

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

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Source: https://cointelegraph.com/news/our-man-in-shanghai-coinbase-listing-scorned-graphics-cards-seized-nostalgia-coins-rule

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Blockchain

Rothschild Investment Corp snaps up quarter of a million shares in Grayscale ETH Trust

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Chicago-based financial institution Rothschild Investment Corp, has acquired 265,302 shares in Grayscale’s ETH trust, according to a filing on April 15 with the United States Securities Commission or SEC.

The firm also added more Grayscale Bitcoin trust shares to its holdings, with the latest SEC filing revealing that it increased its tally from 30,454 in January up to 38,346 this month.

Rothschild Investment has been accumulating GBTC since 2017, and the latest filing shows the firm’s appetite for crypto exposure is not slowing down. Ether proponent Ryan Adams, the founder of crypto investment firm Mythos Capital and Bankless, commented on the latest move noting that “BTC is the gateway drug to ETH.”

The brokerage firm’s history spans back to 1908, and it has been investing in crypto for a relatively long time when compared to the mass inflow of institutions who have swooped in during the past 12 months. An SEC filing showed that the firm owned $210,000 worth of GBTC in July 2017, when BTC was priced around $2000.

Founding members Monroe Rothschild and brother in-law Samuel Karger reportedly have no relation to the famed Rothschild family dynasty, much to the confusion of the crypto community despite the New York Times publishing an article that clarified the situation in 1995.

Grayscale is the leading U.S. digital asset manager that offers institutional exposure to crypto, the firm holds roughly 660,000 BTC, which accounts for 3.5% of BTC in circulation.

The firm revealed yesterday that its total assets under management has now reached $50.6 billion, its ETH trust, or ETHE, is now up to more than $7 billion worth of AUM, with its shares currently trading at around $24. GTBC has surpassed $41 billion in AUM, and shares are trading at around $59.

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Source: https://cointelegraph.com/news/rothschild-investment-corp-snaps-up-quarter-of-a-million-shares-in-grayscale-eth-trust

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Blockchain

Shift toward full decentralization pushes Maker (MKR) price above $4K

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Stablecoins have become a significant foundational piece for the cryptocurrency sector because they serve as a deeply liquid base pair for most assets and also offer investors a secure place to capture gains. Data also shows that stablecoins play a significant role in functioning as a gateway for capital inflow to the crypto ecosystem.

While the largest stablecoins in the market are currently controlled and issued by centralized entities like Tether or Circle, DAI and its issuer Maker (MKR) is one stablecoin project that keeps with the ethos of decentralization that the cryptocurrency community is founded on.

Data from Cointelegraph Markets and TradingView shows that the price of MKR has increased by almost 100% in the past week, rallying from a low of $2,011 on April 7 to a new all-time high at $4,096 on April 15 on surging trading volume.

MKR/USDT 4-hour chart. Source: TradingView

Momentum for MKR has been on the rise in recent weeks as the ecosystem thanks to a focus on making the protocol fully decentralized and community governed.

Governance has emerged as one of the sought-after features in the 2021 bull market as part of the wider decentralized finance (DeFi) movement, and MakerDAO provides one of the most active governance experiences across the crypto sector.

Holding MKR is required in order to participate in the governance of the protocol and the increasing number of governance proposals to vote on has led to a higher demand for MKR, pushing its price higher.

Demand for DAI boosts Maker price

As previously mentioned, one of the primary tasks of MakerDAO is to govern the DAI stablecoin, which has seen significant growth in its total supply in 2021 as the algorithmically controlled stablecoin became better at maintaining its peg to the U.S. dollar.

DAI supply vs. price. Source: Coin Metrics

The growth in the supply of DAI is in part due to its use across a number of DeFi protocols including AAVE, Compound (COMP) and Cream Finance (CREAM) as the go-to option for a decentralized stablecoin.

New DAI are created by locking collateral like Ethereum (ETH) or ChainLink (LINK) into a MakerDAO vault and generating DAI against it.

Due to this mechanism, the rising supply of DAI has coincided with a surge in the total value locked (TVL) in the Maker protocol which has made the project the second-ranked DeFi protocol behind Compound which has a $9.28 billion TV.

Total value locked on MakerDAO. Source: Defi Llama

As the TVL on MakerDAO steadily climbed alongside the rising supply of DAI, fundamental indicators including increases in social media activity began signalling an approaching price move.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for MKR on April 13, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. MKR price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for MKR climbed into the green on April 12 and reached a high of 80 on April 13, around 31 hours before the price rallied 65%.

With altcoins now on the move again and the DeFi sector heating up as evidenced by rising TVL across the ecosystem, MakerDAO could rally further as it is the go-to choice for investors looking to interact with Ethereum network-based DeFi protocols.

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.

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Source: https://cointelegraph.com/news/shift-toward-full-decentralization-pushes-maker-mkr-price-above-4k

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