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South Korean crypto exchange Korbit launches NFT marketplace

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Korbit, a South Korean crypto exchange, has announced the launch of its new NFT marketplace service. Firstly, any Korbit user can join the marketplace and participate in auctions after creating an Ethereum-based NFT wallet. Secondly, anyone can join as an NFT author and upload their work for auction.

NFTs

An NFT or Non-Fungible Token is a token irreplaceable to any other tokens. NFTs are a cryptographic technology that utilizes blockchain to give each piece of content a unique mark. NFTs are being most actively used in the field of art; as it accurately recognizes the original author of the work, changes in its ownership and any issues involved with its current owner. Notably, a unique feature of an NFT is that a certain amount of royalties can be paid to its original author whenever ownership changes.

Source: nft.korbit.co.kr

Source: https://www.cryptoninjas.net/2021/05/31/south-korean-crypto-exchange-korbit-launches-nft-marketplace/

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BTC Lender Celsius Joined BlockFi On New Jersey’s Target List: Report

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The BTC lender Celsius Is joining BlockFi on the list of companies geting scrutiny from state securities regualtors as we are reading more today in our crypto news.

BlockFi is a New Jersey-based crytpo lendign paltform and it faced a lot of scrutiny from the state securities regualtors all summer and Coinbase also was warned by the US SEC that it will be sued if it launches its high-yield Lend program. Now the BTC lender Celsius, is catchign up on the regulatros’ target list. The New Jersey Bureau of Secrutieis filed a cease and desist order against the company to stopofferign high itenrest accounts to all New Jerseycustoemrs by the end of OCtober. Today, the Texas State Securites Board also ordered the company to appear for an administrative hearing and even threteaned to issue its own cease and desist orders against the company to stop serving the clients in the state. The order also reclares that fines and resittuions are one of the possible remeidies.

Celsius Holds Over, bitcoin, btc,

The issues are Celsius’s crypto interest accounts. Clients are able to sign up for the platform and to deposit cryptos they own with Celsius which loans them out. In return, the clients recieve itneret rates for higher than the rates from traditional bank savings accounts. The network advertises returns of up to 17% but ther ates are updated every week and vary from asset to asset. Right now, stablecoins like Tether and USDC fetch 8.88% while Ethereum and BTC got interest worth about 5-6% per year.

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Texas and New Jersey noted that the Celsius API partner program is reaching for these accoutns because the API partners canthen offer and sell the unregistered Celsius Earn Interest-Bearing Accoutn to their clients. None of this according to the regulators is sanctioned by the state bcause Celsius has not registered with the agencies nor with the SEC to start selling securities whcih are tradeble investment products. Most lawyers that specialzie in digital assets see this yield products as securities because they function an unsecured bond where the borrower agrees to pay someone back without having to provide collateral.

kentucky joined, blockfi, states, account

The same issue was with BlockFi which recieved a cease and desist order from the NEw Jersey attorney general’s office which was followed by a cease and desist order from Texas, Kentucky and Vermont. As a result, BlockFi’s market coverage is getting smaller and it no longer offers its BlockFi Interest Accounts to the Texas residents and has to stop serving in New Jersey as well.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

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Source: https://www.dcforecasts.com/bitcoin-news/btc-lender-celsius-joined-blockfi-on-new-jerseys-target-list-report/

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TIME100: Why Ethereum’s Vitalik Buterin Deserves The Spot

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TIME100: Why Ethereum's Vitalik Buterin Deserves The Spot

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The annual ultra-prestigious Time 100 Most Influential List is out featuring everyone from Apple’s Tim Cook to Tesla’s Elon Musk and the World Trade Organization’s first female boss Ngozi Okonjo-Iweala. The cryptocurrency industry had just one slot and 27-year-old billionaire and Ethereum co-founder, Vitalik Buterin clinched the spot.

Nominated by Reddit’s co-founder, Alexis Ohanian, Vitalik made his debut on the influential list under the innovators’ category for his magnificent strides in the world of blockchain through the creation of Ethereum. Ohanian, who has been an ardent follower of Buterin from the infant stages of his career, was quick to add:

“No other person could have possibly come up with all of the uses of Ethereum, but it did take one person’s idea to get it started. From there a new world has opened up, and given rise to new ways of leveraging blockchain technology — some of which I’ve invested in.” Ohanian said in response to the global strides of Ethereum. “Whether it is start ups like Sorare reinventing fantasy sports or Rainbow users showing off their NFT collections, none of this would’ve existed without Vitalik’s creation.”

Why Buterin? Well, here are the top reasons we think.

A builder of builders

In one of Ohanian’s remarks, he referred to Vitalik as a builder’s builder and it’s not so hard to see. With a solid $400 billion community harboring a plethora of life-changing DeFi’s and pleasure-giving NFTs, the Ethereum blockchain has successfully set the ball rolling for one of the most ingenious use cases for blockchain.

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Beyond payment solutions and cryptocurrencies, newer startups are developing tools that leverage blockchain technology in areas of real estate, supply chain management, voting, user privacy and security, statistics, etc. There are now close to a 3.5 million registered DeFis and over 2000 registered DApps fully operational and domiciled on the Ethereum mainnet.

A hub for all

Bitcoin may have the magic of low transaction fees and more popularity but Ethereum has the record for the largest number of innovative developers on a single platform. There are over 40 million unique addresses with over 250,000 developers working out close to half a million daily transactions amounting to approximately $1.5 billion per day in volume. This makes Vitalik’s Ethereum the busiest tree for many birds in the crypto ecosystem. 

Bitcoin’s Satoshi Nakamoto and Cardano’s Charles Hoskinson may have earned premium accolades within the community for bringing up the first crypto and becoming the first to deploy its technology to Africa on a significant scale respectively, but Vitalik’s achievement stands true. It’s been a phenomenal year for the 27-year-old, first stepping into the Forbes billionaire club back in March and now cementing his place as an undeniably global person of influence — and he’s only 27 yet.

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Source: https://zycrypto.com/time100-why-ethereums-vitalik-buterin-deserves-the-spot/

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Ethereum’s Rival AVAX Hits ATH After $230M Token Sale

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Ethereum’s Rival AVAX token hit an all-time high after the recent $230 million token sales and it seems that the price only keeps on rising thanks to the Polychain and Three Arrows token sale so let’s read more in our latest altcoin news today.

Blockchain network Avalanche raised $230 million from a private token sale led by Polychain Capital and Three Arrows Capital and now, Ethereum’s rival AVAX token is setting new ATHs of $65 following the news and marking a 400% increase since the beginning of August. Avalanche became one of the most prominent so-called ETH killers over the past year and the blockchain networks designed for decentralized applications saw its native AVAX crypto rise to new highs. The price keeps increasing as the Avalanche Foundation announced an infusion of $230 million in a new token sale but after the news was revealed, AVAX hit a new ATH of $65 per coin according to CoinGecko. It is up by 22% over the past day and it is now the 12th biggest crypto by market cap with $14 billion at the time of writing.

avax token
AVAX 24-hour Price Chart (Source: Coingecko)

the private token sale was completed in June but only revealed today that was led by the Polychain Capital and Three Arrows Capital which provides a huge chunk of Capital for Avalanche as the ecosystem keeps on expanding to challenge the Ethereum dominance in teh space as well as to fight off the other Ethereum rivals. Teh foundation plans to support all Avalanche-based projects via grants, token purchases, tech support, and investments. Just like Ethereum, Avalanche is a blockchain that is designed for running smart contracts which are only bits of code that perform set instructions and are the backbone for dapps as well as decentralized finance protocols, NFTs, and more.

Ethereum leads the smart contract blockchain space by a huge margin but the platform is now hampered by the high congestion and the sizeable transaction fees. The upcoming ETH 2.0 upgrade could help with that while the layer-2 scaling solutions which work on top of ETH are also going to play a key role.  Alternative platforms are also surging lately like Solana for example. Solana was one of the biggest winners recently with a surging price amidst rising network activity but this week’s downtime could have put a hamper on its momentum and Cardano is another rival that only just yet rolled out smart contract capabilities. Algorand and Polkadot also saw the rising value and network activity lately.

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avax weekly
AVAX 7-Day Price Chart (Source: Coingecko)

Avalanche’s price saw more than 400% rise from the start of August to a new ATH set today according to CoinGecko and jumped from under $13 per coin to the current price near $65. DeFi Activity on the platform is also increasing with more than three times the amount of AVAX locked up compared to a month ago according to DeFiLlama. Avalanche has $2.6 billion worth of assets locked up in DeFi protocols and if you compare it to the $125 billion worth of Ethereum, the discrepancy is more than clear. However, Avalanche is much newer and rises in popularity faster.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

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Source: https://www.dcforecasts.com/altcoin-news/ethereums-rival-avax-hits-ath-after-230m-token-sale/

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