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Philips to Accept BTC and ETH in a Banksy Auction

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Philips will be auctioning a world-famous artwork called “Laugh Now Panel A” created by the anonymous street artist Banksy. Jonathan Crockett – Asia Chairman at the company – announced that BTC or ETH would also be accepted as a means of payment on the auction.

Philips Enters the Crypto Community

In a recent Bloomberg interview, Jonathan Crockett highlighted that Philips would accept the largest cryptocurrencies – bitcoin and ether – to purchase Banksy’s ”Laugh Now Panel A”. The executive revealed that the seller insisted on the move as it would grant him more potential buyers and a higher price as an outcome:

”We’re really doing this because the seller was open to the idea of opening bidding to a new pool of potential buyers and therefore achieving a higher sale price as a result.”

Additionally, Crockett outlined cryptocurrencies’ recent success as many investors gained profits from their growth in terms of USD prices throughout the years. He went further, stating that Philips’ move was ”inevitable.”

The Asia Chairman clarified that the buyers would not be able to use various digital assets to conduct the purchase of the piece of art, but only the top two by market capitalization – bitcoin and ether. In any way, the standard way of payment remains Hong Kong dollars for those who prefer fiat money. The price of Banksy’s ”Laugh Now Panel A” is estimated to range between $2,820,000 to $4,100,000.

Crockett agreed that many Asian companies had shown interest lately in the potential of cryptocurrencies. He noted that the technology giant Philips is only testing the matter with this move as they have never dealt with digital assets before:


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”This is very much us dipping our toes in the water.”

Art for Crypto

In yet another auction, presented by Goldin Auctions earlier this year, an anonymous buyer purchased a signed football card of Tom Brady for about $1.68M worth of the cryptocurrency Litecoin (LTC). The company revealed that this is the most expensive item to be paid in digital assets since it started accepting such payments.

Back then, Ken Goldin – Founder of Goldin Auctions – stated that his firm would continue to accept cryptocurrencies as the buyers prefer it as a way of payment:

”Trading cards and crypto are now two of the most rapidly growing alternative asset classes and we know there is a lot of overlap between the communities.”

Tom Brady’s card is regarded as the ”Holy Grail” of the collecting industry. In fact, a similar card of the legendary quarterback from the 2000 Playoffs still holds the pricing record as it was sold for $2.25M at Lelands Auctions.

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Source: https://cryptopotato.com/philips-to-accept-btc-and-eth-in-a-banksy-auction/

Blockchain

Palestine Reportedly Working On Its Own Digital Currency

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Cryptocurrencies are back in the geopolitical scenario. The Palestinian Monetary Authority is reportedly working on issuing a digital currency as a strategy to achieve a higher level of financial independence.

This effort would put Palestine on the same list as other nations like Venezuela, the Marshall Islands, the Bahamas, China, and the latest endeavors of El Salvador, who are interested in the power of the blockchain to improve the efficiency of their financial infraestructure —and gain a little more independence from other economic powers, bypassing their sanctions since we’re there.

A Palestinian Sovereing Digital Coin: Practical Solution Or Political Statement?

Palestine has a rather peculiar political situation, although 138 of the 193 United Nations (UN) recognize it as an independent country, the United States and Israel (two of its mort important political rivals to say the least) do not recognize its existence, and Israel currently excercizes an important militar and even financial control on the region.

Countries that recognize Palestine as a free country (Green) vs Countries that do not (Grey). Image: Wikipedia
Countries that recognize Palestine as a free country (Green) vs Countries that do not (Grey). Image: Wikipedia

And this is where the blockchain comes in as a possible relief valve or perhaps a means of political protest by Palestine agains Israel. Palestine does not have its own currency and instead relies on a mixed economy in which Israeli shekels, Jordanian dinars, and U.S. dollars move in and out.

So, with an economy controlled by a rival third party, it is almost impossible for palestinians to have any financial sovereignty when Israeli banks dictate their movements.


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Currently, Israel prohibits banks from conducting large cash transactions. It also imposes limits on the amount of money Palestinians can transfer to Israel each month.

According to a Bloomberg report, this hinders financial transactions between Palestinians and could be one of the most important practical reasons for trying to create a sovereign currency free from Israel’s influence.

As a result, they [the palestinians] sometimes have to borrow to cover foreign exchange payments to third parties and are stuck with a glut of Israeli banknotes. That could be one reason a digital currency would be attractive to the Palestinian monetary system.

Experts Don’t Expect Much

Palestinians might be optimistic, but many experts don’t see much hope for the Palestinian efforts. Among this group is Raja Khalidi, director of the Palestine Economic Policy Research Institute, who believes that it is practically impossible for the Palestinian cryptocurrency to see the light of day.

“The macroeconomic conditions don’t exist to allow a Palestinian currency — digital or otherwise — to exist as a means of exchange.

For his part, Barry Topf, former senior adviser to the Bank of Israel governor, assured that this currency will fail to fulfill two of the main functions of money:

“It’s not going to replace the shekel or the dinar or the dollar. It’s certainly not going to be a store of value or a unit of accounting.”

However, Palestine seems determined to pursue a venture in which it has nothing to lose. Two cryptocurrency studies are currently underway to help experts understand the landscape. In the end, much of its success will depend on the support it receives from other international bodies, and especially from other states.

And this is a matter of discussion for political analysts, not crypto enthusiasts.

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Source: https://cryptopotato.com/palestine-working-digital-currency/

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Blockchain

Own the Platform That Lets You Be a Bookmaker of Your Favorite Sports Events

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Imagine being part of the ownership of top bookmakers such William Hill or Bet365. To most of us, this will remain just that, the stuff of imagination. Well, not for long. Not with blockchain technology – through the newly launched decentralized stakes platform, Chipz – continuing its major disruption in the betting and gambling sector.

Chipz will allow users to become bookmakers for sports events and own part of the platform once it’s completely decentralized.

How will Chipz work

The Chipz ecosystem will run through their ERC-20 utility token, known as CHPZ. The CHPZ token will be used to create the sportsbooks and stake bids on the platform through smart contracts. Besides, all earnings on the staked bets will be deposited to user wallets in CHPZ.

Once a user already has CHPZ in their preferred ERC-20 wallet, Chipz provides multiple avenues to earn more CHPZ on the platform. For starters, you can become a bookmaker, where you create events with various outcomes and allow bidders to stake on their preferred outcome. The stakers will pay you a set fee in CHPZ.

On the other hand, a user can stake their CHPZ on sports and esports events listed on the platform through Chipz oracle explorer. If your staked outcome wins, the smart contract disperses your earnings in CHPZ to your wallet automatically.

Being Part of Chipz Governance

Based on Chipz’s roadmap, the developers’ ultimate goal is for the platform to achieve true decentralization. The CHPZ token will be used as a governance token.  Here, users who bought CHPZ tokens in the early stages of the platform, as well as verified bookmakers, get to be part of Chipz’s platform decision-makers.

As a CHPZ holder, you’ll be allowed to post and vote on the platform’s proposals and future fees. What’s more, verified bookmakers – highly ranked and trusted Chipz users who have earned a reputation of creating trustworthy bidding instances based on Chipz oracle explorer sporting events – will be allowed to create multiple outcomes on virtually anything beyond the oracle’s data.

Hence, the verified bookmakers will be involved in Chipz governance and create events on absolutely anything with an uncertain outcome that bidders can stake on.

Even better, Chipz developers claim that verification of bookmakers doesn’t involve requesting users for KYC. Rather, the platform will attach a user’s wallet address to their bookmaker profile then monitor the profile based on the bidding instances they set. What’s more, bidders will be able to downvote or upvote a bookmaker hence maintaining accountability in the Chipz community.

Where to buy CHPZ today

Early adopters of the Chipz platform – both bidders and bookmakers – will be rewarded with CHPZ tokens once the platform achieves true decentralization.

Luckily for interested investors, Chipz is still on its 1st version; hence holding CHPZ today makes them early adopters. Currently, you can buy the CHPZ tokens on Bounce as a presale investor at $0.03 per token. There are 15,000,000 CHPZ listed for public presale.

You can also wait for CHPZ public listing on Uniswap scheduled at 6 PM UTC on 6th Aug, 2021 and buy the token at $0.05 per token. The platform plans to list 10,000,000 CHPZ on Uniswap.

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Source: https://www.newsbtc.com/news/company/own-the-platform-that-lets-you-be-a-bookmaker-of-your-favorite-sports-events/

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Blockchain

Kraken Daily Market Report for June 24 2021

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Overview


  • Total spot trading volume at $1.02 billion, the 30-day average is $1.49 billion.
  • Total futures notional at $332.0 million.
  • The top five traded coins were, respectively, Bitcoin (+2.9%), Tether (0%), Ethereum (+1.0%), Cardano (+8.7%), and Dogecoin (+12%).
  • Strong returns from Tron (+14%), Dogecoin (+12%), and Siacoin (+11%).

June 24, 2021 
 $1.02B traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
BTC 
$34664. 
↑2.9% 
$344.5M
USDT 
$0.9999 
↓0.03% 
$275.9M
ETH 
$1988.1 
↑1.0% 
$165.3M
ADA 
$1.3586 
↑8.7% 
$63.5M
DOGE 
$0.2635 
↑12% 
$46.6M
USDC 
$1.0 
↑0.0% 
$37.4M
XRP 
$0.6701 
↑4.6% 
$31.6M
DOT 
$16.218 
↑2.6% 
$21.9M
LINK 
$19.029 
↑3.4% 
$13.1M
LTC 
$134.44 
↑4.2% 
$10.3M
SC 
$0.0115 
↑11% 
$7.74M
XMR 
$225.31 
↑3.1% 
$6.9M
KSM 
$205.14 
↓0.29% 
$6.88M
BCH 
$486.82 
↑2.9% 
$6.11M
TRX 
$0.0660 
↑14% 
$6.0M
EOS 
$3.9205 
↑6.8% 
$4.61M
AAVE 
$209.93 
↑0.8% 
$3.91M
FLOW 
$8.71 
↑1.7% 
$3.59M
XLM 
$0.2685 
↑5.0% 
$3.39M
DAI 
$1.0003 
↓0.0% 
$3.2M
FIL 
$57.137 
↓2.6% 
$2.87M
MINA 
$1.76 
↓2.8% 
$2.67M
MATIC 
$1.2027 
↑2.3% 
$2.57M
ATOM 
$10.358 
↑7.8% 
$2.16M
UNI 
$18.041 
↑1.4% 
$1.97M
OXT 
$0.2463 
↑3.2% 
$1.9M
NANO 
$5.0086 
↑7.7% 
$1.8M
ALGO 
$0.8725 
↑4.8% 
$1.75M
KAVA 
$3.5567 
↑5.0% 
$1.61M
KEEP 
$0.2697 
↓0.5% 
$1.55M
ANT 
$3.5411 
↓0.9% 
$1.5M
SOL 
$31.19 
↑3.1% 
$1.49M
XTZ 
$2.8275 
↑5.2% 
$1.34M
ETC 
$43.079 
↑5.2% 
$1.26M
OMG 
$3.8772 
↑3.4% 
$1.23M
DASH 
$131.23 
↑3.0% 
$1.22M
YFI 
$31305. 
↑1.0% 
$1.21M
MANA 
$0.5238 
↑4.8% 
$1.13M
ZEC 
$112.63 
↑0.8% 
$1.03M
COMP 
$256.34 
↑5.9% 
$942K
SNX 
$6.5814 
↓1.4% 
$772K
ICX 
$0.8113 
↑3.4% 
$724K
WAVES 
$13.517 
↑2.9% 
$678K
QTUM 
$6.1507 
↑4.7% 
$635K
BAT 
$0.5719 
↑3.9% 
$523K
GRT 
$0.6017 
↓0.23% 
$522K
MLN 
$66.198 
↓0.6% 
$514K
CRV 
$1.6669 
↑11% 
$504K
PAXG 
$1779.5 
↓0.14% 
$427K
OCEAN 
$0.4304 
↑4.7% 
$409K
BAL 
$17.98 
↑6.2% 
$400K
REPV2 
$12.863 
↑8.7% 
$353K
STORJ 
$0.6808 
↑2.7% 
$349K
KNC 
$1.4049 
↑4.0% 
$341K
RARI 
$8.02 
↓11% 
$338K
MKR 
$2235.8 
↑3.2% 
$265K
LPT 
$23.16 
↓4.9% 
$231K
SRM 
$2.9789 
↑2.4% 
$226K
EWT 
$6.2520 
↑5.6% 
$184K
LSK 
$2.0937 
↑5.3% 
$166K
GNO 
$148.32 
↑0.4% 
$150K
ANKR 
$0.0783 
↑1.8% 
$146K
REP 
$18.633 
↑3.1% 
$131K
SUSHI 
$6.99 
↑0.9% 
$96.2K
REN 
$0.3520 
↑1.4% 
$82.5K
SAND 
$0.2019 
↑4.2% 
$37.2K
ENJ 
$1.07 
↑2.0% 
$36.6K
GHST 
$0.9626 
↓1.8% 
$21.9K
ZRX 
$0.66 
↑3.3% 
$18.6K
TBTC 
$35310. 
↑10% 
$4.22K
BNT 
$3.1430 
↑4.0% 
$1.99K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (June 24 2021)



Figure 2: Mid-size trading assets: (measured in USD) (June 24 2021)


###########. Daily Returns. #################################################

Daily Returns %


Figure 3: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (June 24 2021)


###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

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Source: https://blog.kraken.com/post/9743/kraken-daily-market-report-for-june-24-2021/

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