Crypto News 06/05: Bitcoin is likely to drop further with news from Ethereum, NFTS, Cardano, eToro, Chainlink, Bitmex, Kattana, KardiaChain, UNI, Dogecoin
From predicting that Bitcoin could fall further before it stabilizes, to Coinbase giving away the $ 1.2 million DOGE. Here are some highlights from the crypto market.
The past six weeks have been one of the worst in Bitcoin history. Although the world’s most valuable digital currency has only existed for 12 years, it has seen gloomy days with sharp fluctuations in exchange rates.
However, according to a report Fresh from financial giant JPMorgan, Bitcoin’s price, which has plummeted in recent weeks, could fall further before stabilizing.
JPMorgan strategist Nikolaos Panigirtzoglou said Bitcoin price could fall further before stabilizing after a correction.
Bitcoin’s price has been volatile since its steep drop in May, reaching as high as $ 30,000, after peaking at $ 64,000 in the region in April.
BTC Price Chart | Source: TradingView
According to the study, Bitcoin, the world’s largest cryptocurrency by market capitalization, has a medium-term fair value in the range of $ 24,000 to $ 36,000.
One of the reasons JPMorgan seems to believe Bitcoin could fall further is because the institutions have stopped buying the asset.
Bitcoin could be adopted en masse in the next 10 years
Bitcoin (BTC) may only be 10 years away from mass adoption in what is known as “hyperbitcoinization”.
During the Bitcoin 2021 conference, Saifedean Ammous from The Bitcoin Standard spoke; Unchained Capital Business Development Manager Parker Lewis and Kraken Lead Developer Dan Held both say Bitcoin will effectively take over the global financial world within the next 10 years.
Square plans to develop a Bitcoin hardware wallet ví
Twitter co-founder and CEO of payment company Square, Jack Dorsey, announced that his company is considering working with the community to develop a Bitcoin hardware wallet.
Square is considering a hardware wallet for #bitcoin. If we did this, we would be developing it completely openly, from software to hardware design and in collaboration with the community. We want to get this thinking right: by sharing some of our guiding principles.
– latch (@ latch) June 4, 2021
On Friday, Jack Dorsey tweeted about Square’s ability to create a Bitcoin hardware wallet and discussed some of the principles the company is using as a guide in approaching the subject. The founder of Twitter and Square stated that the company would develop an “open” product, noting that “Bitcoin is for everyone”.
According to the SpaceChain Foundation, aerospace company SpaceX brought an Ethereum node to the International Space Station (ISS) yesterday.
Nexus, a SpaceChain customer, provided the ISS with the necessary installation solution for the Ethereum node.
– SpaceChain Foundation (@SpaceChain) June 3, 2021
The node will be installed on the YAM-2 satellite carried by a SpaceX Falcon 9 rocket in the ridesharing program. This mission is carried out by Loft Orbital.
News chain link
The Chainlink (LINK) development team has announced New partnership with the globally recognized Society of Electrical and Electronics Engineers (IEEE) to develop standards for the introduction of decentralized Oracle networks.
In addition, the Chainlink Community Grant was awarded to a new research team tasked with establishing best practices for setting up Dapps with the combined Oracle network and smart contracts. The research team will include international engineers, companies and academic institutions.
eToro, the second largest exchange in the world by weekly visitors, notification They began looking for office space for 50 people in Miami to share with their current US office location in Hoboken, New Jersey.
EToro’s announcement follows news that the top 15 exchanges will be relocating their US headquarters from New York to Miami, with plans to create 300 jobs over the next 18 months.
NFT Stars (NFTS) has announced Integration and strategic investment of Avalanche (AVAX)
NFT Stars will be integrated with Avalanche to support the multi-chain NFT marketplace in the third quarter of 2021.
To accelerate the growth of Dapps, the Avalanche Foundation has made a strategic investment in NFT Stars as part of the growth of the digital and NFT ecosystem on Avalanche.
The Cardano community on Reddit has now surpassed 500,000 subscribers after the proof-of-stake blockchain exploded earlier this year.
Number of people participating in the Cardano community on Reddit | Source: / r / cardano
The top community posts are about Cardano CEO Charles Hoskinson, who praises the energy efficiency of the blockchain, the ADA list on Coinbase Pro …
Bitmex derivatives platform, has cooperate with Astrobotic Technology’s space robotics company to send 1 physical bitcoin to the moon.
Astrobotic will send its first commercial lander to the moon in the fourth quarter of this year, and physical bitcoin will be part of Peregrine-1’s cargo manifest.
According to the Bitmex team, the physical coin will also be similar to the 2013 Casascuis coin, holding a bitcoin at an address that’s under the hologram overlay. The coin displays “the BitMEX name, task name, mint date and Bitcoin price at the time of minting”.
Kattana (KTN) has announced Cooperation with Polygon (MATIC)
Kattana will support decentralized exchanges based on polygon. This event opens up even more features to users as Kattana is no longer limited to Ethereum and BSC.
The Synthetic Team-based KardiaChain development team, a streamlined, interoperable blockchain ecosystem, has announced V1 launched by KAIDEX, a decentralized exchange (DEX) for KRC20 and KAI tokens.
The introduction of KAIDEX V1 marks the end of phase 4 of the KAIDEX roadmap. KAIDEX is currently available with a web version, a browser extension and in the Kardia wallet in the mobile app.
KAIDEX V2 with cross-chain trading functions will be introduced later this month.
In this V1 introduction, the features available from KAIDEX include: Full support for KRC20 tokens and KAI trading pairs, custom slippage, liquidity pool management.
Coinbase listed Dogecoin on Thursday, and to promote the event, the company announced that it will be giving away tokens worth $ 1.2 million to customers in the coming months.
“Dogecoin is now live on Coinbase and we’re giving away $ 1.2 million in prizes to celebrate.”
It’s raining DOGE!
Dogecoin is now on Coinbase and we’re giving away $ 1.2 million to DOGE to celebrate. Register and then buy or sell $ 100 in DOGE on Coinbase by 10/6/2021 to get your chance of winning. Limit one entry per person.
– Coinbase (@coinbase) June 3, 2021
Winners must buy or sell $ 100 in DOGE by June 2021 to be eligible for the prize. The prize pool will be $ 300,000, with 10 smaller prizes of $ 30,000 and 6,000 prizes of $ 100.
Glassnode says the number of UNIs moving in 7 days (7 days MA) is 219,423. just hit a 4 month low
The previous 4-month low of 219,435 was observed on April 10, 2021
???? $ UNI Number of transfers (7d MA) just hit a 4-month low of 219,423
Previous 4-month low of 219,435 was observed on April 10, 2021
– Glasnode warnings (@glassnodealerts) June 5, 2021
Russian central bank prevents investors from Bitcoin
Oliver Hughes, CEO of the digital bank Tinkoff, said “Russian investors absolutely want to invest in Bitcoin. However, the central bank’s tough stance on digital assets has prevented banks like Hughes from offering these services.
“There is currently no mechanism for banks to offer investment products to users in Russia as the central bank is very strict about the market,” said Hughes.
At the same time, he admitted that the central bank’s concerns about cryptocurrencies being used for money laundering are relatively justified. Digital assets can pose significant financial risks to retailers.
China blocks a number of KOL crypto accounts
A large number of crypto KOL accounts have been banned on Weibo (China’s Twitter). This is the toughest crypto exposure in history and could be in response to Beijing’s repressive policies. This also includes China’s most famous DeFi leaders.
Breaking: A large number of cryptocurrency KOL accounts have been banned on Weibo (China’s Twitter). This is the toughest crypto exposure in history and could be a response to Beijing’s reform policies. pic.twitter.com/QaYehR3NnV
– Wu-Blockchain (@WuBlockchain) June 5, 2021
According to Bitcoin Magazine