Crypto News June 27: CEO Celsius aims to reach Bitcoin to USD 160,000 this year with Theta, KILT protocol, NFT and Mercuryo
From predicting that Bitcoin will still hit $ 160,000 this year, to Andreessen Horowitz, who is launching a $ 2.2 billion fund to invest in the crypto market. Here are some highlights from the crypto market.
Although Bitcoin (BTC) is still around $ 30,000, industry experts remain optimistic over the long term.
To make this clear, Alex Mashinsky, CEO and co-founder of the centralized crypto lending platform Celsius, said that Bitcoin will still hit $ 160,000 this year.
Mashinsky believes the 2021 peak is yet to come as the crypto market will be forced to make a correction if it pegs ATH above $ 63,000.
“If prices rise too fast and too high, the market has to correct. You can see that in both March and February my tweets often refer to this correction. “
He once predicted the market would correct itself to $ 30,000 and said Bitcoin was like a feather, we stretched it too much and used too much leverage. Too many people were greedy.
Any Bitcoin owner who has held their BTC for the past 3+ years has a huge profit
Here is the information share from Pantera Capital CEO Dan Morehead in his most recent blockchain letter to investors, in which he also referred to three events for Bitcoin’s ongoing withdrawal.
First, Morehead stated that the current volatility is due to China banning bitcoin mining. Next, the recently ended tax season in the US put pressure on BTC to sell. Finally, Bitcoin was negatively impacted when Tesla stopped using it as a means of payment.
Bitcoin has a strong correlation with corruption tham
Johns Hopkins University professor of applied economics Steve Hanke said that bitcoin has a strong correlation with corruption when it comes to El Salvador’s legal tender for this asset class.
#EconWatch: How #El Salvador assumes #Bitcoin, 5 other Latin American countries are considering similar initiatives. Like El Salvador, all of these countries score extremely poorly on global corruption indices. #BTC strongly correlates with a high level of corruption. pic.twitter.com/EGToWp2bPk
– Steve Hanke (@steve_hanke) June 26, 2021
Through his Twitter account, Hanke said that the other five Latin American countries that want to declare Bitcoin legal tender, like El Salvador, all have corruption problems.
He found that five countries, including Argentina, Brazil, Panama, Mexico and Paraguay, have extremely poor corruption indices.
Bitcoin is completely untouched as a number of miners move mining facilities to new regions
Documentation from Bitcoin, which specializes in the BTC market, states that the biggest infrastructure change in history is taking place, with about 45% of the Bitcoin mining industry moving to new territories.
This can cause users to temporarily take an extra minute to mine blocks. Bitcoin is also completely untouched.
The largest infrastructure relocation in modern history is taking place – about 45% of the of #Bitcoin Mining is shifting continents.
Does this affect users?
– Document Bitcoin (@DocumentingBTC) June 26, 2021
Earlier this week, the Theta Network (THETA) team notification that the United States Patent and Trademark Office cleared the project’s patent application.
Patent number 17 / 218,245 or ‘THETA-1003’ in the field of technology developed by Theta Network for decentralized digital rights management (DRM) using NFT in a decentralized network.
According to the Theta Network team, the technology will benefit many areas of the entertainment and creative industries, such as live performances, concerts and ticketing events, where NFTs can be used as proof of digital ownership.
Messages KILT protocol
KILT protocol today announced can be integrated into Subscan, the blockchain browser developed for substrate-based networks.
Subscan supports Polkadot, Kusama, Kulupu, Darwinia, Edgeware, Centrifuge and now KILT Protocol as well as other networks.
Subscan can be used to search, analyze and visualize different types of blockchain data. In addition, Subscan’s design is compatible with desktop and mobile users.
The KILT protocol is used to output remote identifiers and login information. In addition, the protocol also brings real information (passport, driver’s license, certificates) into the digital world, while the data remains private and proprietary
Sotheby’s auction house will to use cryptographic technology to connect a real work of art with its digital version. The technique is being used for the first time in a Picasso painting that will be auctioned on June 29th.
Tying NFTs to a real asset is nothing new as Nike has filed a patent for blockchain-based sneakers called CyptoKicks, which can be used to attach a digital asset to any shoe.
In the art world, APENFT sells an NFT based on artwork by Andy Warhol.
Cryptocurrency infrastructure firm Mercuryo announced that it has raised $ 7.5 million in a Series A funding round led by Target Global.
Mercuryo plans to use the capital to expand into new markets and bring business solutions to the market that will allow any company to enter the fintech industry without any problems or obstacles.
???? We’re excited to announce a new $ 7.5 million Series A round led by Target Global.
We plan to use the capital to expand into new markets and bring business solutions to the market that will allow any company to become a fintech without complications. https://t.co/YDx596xE5j pic.twitter.com/qSuHOxIS3p
– Mercuryo (@Mercuryo_io) June 25, 2021
Andreessen Horowitz is raising a $ 2.2 billion fund with the aim of investing in the crypto market
Venture capital company Andreessen Horowitz has Hor notification on raising a new $ 2.2 billion fund to invest in the cryptocurrency market.
In the blog post, the Coinbase and Facebook-supported company said the fund will help find the next generation of visionary crypto founders.
The fund will support projects at all stages, from the first round of investment to the full development of the networks at a later date, the post said.
FV Bank cooperates with Fireblocks
FV Bank, a digital bank based in San Juan, Puerto Rico, will leverage Fireblocks’ digital asset custody platform for their network infrastructure and unique MPC wallet.
FV Bank integrates Fireblocks platform for securing cryptos @fvbankus @FireblocksHQ #Blockchain #DigitalAssets #Crypto #Bitcoin #Ether #Cardano #Tezos #DeFi #DigitalCustody #CryptoCustody https://t.co/K4jlYaJfrj
– AlexaBlockchain (@AlexaBlockchain) June 26, 2021
According to the announcement, the Fireblocks infrastructure will be seamlessly integrated into FV Bank’s online systems for use by international customers. This move will allow FV Bank to scale, improve and add new products to its offering.
According to Bitcoin Magazine