Cryptoplanetry

  Floyd Mayweather, the boxing icon with 0 defeats against his name has become the latest pro-athlete to join the NFT mania as he is all set to drop a   limited-edition digital collection in association with IronBend, a popular NFT solution provider known for its association with many prominent personalities. The NFT collection would be developed by Reality Gaming Group another known brand in the blockchain domain and each digital artwork would be celebrating the legacy of Floyd Mayweather’s life and career that would include rare memorabilia from the legendary boxer’s personal keepsakes.  The NFT collection is scheduled to launch on May 26th ahead of the much-hyped fight between him and popular Youtube star Logan Paul. Talking about the upcoming NFT collection, Mayweather said,   “I started from nothing and beat all the odds to achieve what I did in my career and I think that’s the American dream. I don’t look at myself as a celebrity – I look at myself as an l...

Ethereum fundamentals signal $2,000 ETH price is closer than it seems Both on-chain and trading metrics indicate Ether dips are meant for buying as ETH eyes $2,000. In the early hours of Feb. 15, Ether (ETH) price plunged to $1,660, followed by a 9% recovery within 10 hours. The move triggered $280 million in futures contracts liquidations, indicating excessive leverage from longs. Although the initial anxiety regarding CME's ETH futures launch on Feb. 8 seems to have faded, sustained excessive transaction fees might have undermined investors' confidence. Nevertheless, the fundamentals behind Ethereum remain solid, indicating ETH price should promptly recover from eventual dips.                  Ethereum median transaction fee, USD. Source: BitInfoCharts Even though the above metric might be interpreted positively, not every user can afford a $12 fee. A simple token swap on decentralized exchanges (DEX) can cost hundreds of dollars in ga...

Battle of the whales as $50K Bitcoin hinges on 'Coinbase premium A negative premium implies that accumulation will last a little longer, meaning that $50,000 as support may have to wait too. Bitcoin (BTC) has already hit $50,000 on some exchanges but needs to get whales on its side to flip it to definitive support, data suggests. In a tweet on Feb. 16, Ki Young Ju, CEO of on-chain analytics service CryptoQuant, highlighted the so-called "Coinbase premium" as one of the final hurdles for BTC/USD. Negative premium slows upward grind On Tuesday, a clear battle was emerging within Bitcoin trading as $50,000 stayed de facto out of reach for bulls. Analyzing the premium, which pits the Coinbase BTC/USD price against the Binance BTC/USDT pair, Ki argued that the until it neutralized, higher levels would remain unlikely.                                    Coinbase premium vs. BTC/USD. Source...

Could block reward halvings scheduled for the coming year prove beneficial for the valuations of these four cryptocurrencies? Block reward halvings cut the rate at which new coins are generated on a given blockchain by 50%. Such events, known jokingly as “halvenings,” have long been anticipated by cryptocurrency traders as catalysts for pushing up the price of their cryptocurrency holdings. Past attempts to predict when Bitcoin’s (BTC) price would increase in relation to halvings have proved inconsistent at best. However, few would be willing to quickly discount the mechanisms described in the law of supply and demand. All things being equal, as the number of coins available on the market decreases, the demand for those coins — and thus, the price of each — increases. With that in mind, here are four cryptocurrency projects that are due to undergo block reward halvings in the coming year, when their issuance rate will be cut in half. Verge (XGV) Verge  (XVG) is set t...

In what started as a speculation or fake news but turned out to be a shocking truth on Friday, that the Apex Bank in Nigeria, the Central Bank of Nigeria (CBN) has ordered banks and other financial institutions to shuts the accounts of crypto currency exchanges and end all crypto trading, buying and selling and other crypto related activities. Details of this new stringent regulations are contained in a circular issued by the Apex Bank which has now circulated all over the internet. What does the regulation mean? The new regulations released on the official website of the Apex Bank by Mr Bello Hassan, Director of Banking Supervision, and Mr. Musa Jimoh, Director of Payments System Management, mean that you will not be able to use a card from a  Nigerian bank or any other financial institution in the country to process any transactions on a crypto exchange . In other words, while virtual currencies remain legal, trading them through an exchange in Nigeria is now almost impossible. T...

  The ECB President gives the impression that central banks will avoid copying institutions in hoarding cryptocurrency. The head of the European Central Bank (ECB) thinks that central banks worldwide will not be holding Bitcoin (BTC) any time soon. In a conference call with The Economist on Feb. 10, Christine Lagarde showed herself to be firmly risk-off when it came to decentralized cryptocurrencies. "Out of the question" "It's very unlikely — I would say it's out of the question," she responded when asked about central bank Bitcoin uptake. Lagarde has long derided Bitcoin, which has surged at a time when the ECB prints huge amounts of liquidity in an attempt to shore up its financial jurisdiction after a year of government-imposed lockdowns. The ECB is nonetheless "doing its best" to promote Bitcoin by accident, bestselling author of "The Bitcoin Standard" Saifedean Ammous says. He referenced another ECB event this week which yielded sig...

MasterCard will allow its almost one billion users to spend cryptocurrencies at more 30 million merchants, although it hasn’t specified which coins will be supported. MasterCard has announced plans to support cryptocurrencies in 2021, paving the way for its nearly one billion users to spend digital assets at more than 30 million merchants. The firm believes this may open merchants up to new customers and build loyalty with existing customers who are already migrating to digital assets over traditional fiat options. “It’s about choice. MasterCard isn’t here to recommend you start using cryptocurrencies. But we are here to enable customers, merchants and businesses to move digital value” While the global payments giant noted it is planning to support stable coins due to their “reliability and security,” Mastercard declined to name any specific cryptocurrencies it will integrate. However, Mastercard offered four core criteria by which it will be assessing prospective assets: robust consum...

The private sector invests enormous resources to help the government combat crypto crimes, U.S. Treasury Secretary Janet Yellen said. United States Treasury Secretary Janet Yellen is concerned about crypto's supposed criminal element.  In Feb. 10  remarks  to a financial sector innovation roundtable, United States Treasury Secretary Janet Yellen stated that the misuse of cryptocurrencies and virtual assets has been a growing problem alongside cyber attacks triggered by the global pandemic. Secretary Yellen said that despite the potential of new technologies like crypto, such assets are still associated with major risks. “I see the promise of these new technologies, but I also see the reality: cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism,” Yellen stated. According to the official, the private sector has been making a significant contribution to the government’s efforts to combat these cr...