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TAG Heuer has announced that it has enabled a crypto payment option for customers who prefer to pay for goods on its pla...
22/05/2022

TAG Heuer has announced that it has enabled a crypto payment option for customers who prefer to pay for goods on its platform. The company is a powerhouse that creates, designs, and sells wristwatches and other fashion ornaments. Some days ago, it made the announcement stating that traders can leverage up to five top digital assets and five stablecoins to pay for their goods on its online platform.
TAG Heuer wants an immersive Web3 experience
According to the statement, TAG Heuer announced that it had inked a deal with Bitpay, which will make the crypto company the facilitator of all crypto-related transactions. The watchmaking outfit also said this signals its core move to make a grand entrance into the Web3 sector.
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The burn mechanism was specially designed to allow crypto fans to decrease the circulating supply of their coins by lock...
16/05/2022

The burn mechanism was specially designed to allow crypto fans to decrease the circulating supply of their coins by locking them in unspendable addresses to make those coins more scarce. The more scarce a coin gets, the bigger chances it gains to rise in value on the market.

Whales' SHIB supply shrinks as they sell
While the community keeps removing SHIB from circulation, whales seem to be losing interest in this meme token. Data shared by WhaleStats crypto tracking platform shows that the supply of SHIB held by the top 100 Ethereum wallets has been decreasing significantly.
Earlier today, WhaleStats reported that Ethereum whales are holding a total of $703,261,525 worth of SHIB.
However, update info from the website of the platform shows that this figure has by now shrunk to $566,404,165 worth of Shiba. That comprises 11.22% of their portfolios.
Last week, SHIB also slid from the number one holding by USD equivalent to spot three. First place on the list is now held by FTX Token (FTT), and the second one belongs to the USDC stablecoin. The choice of whales regarding USDC has probably been caused by the recent collapse of UST stablecoin based on the Terra chain.
Image via WhaleStats
ETH whales now hold $967,331,029 worth of FTT (19.17% of their portfolios), while the amount of USDC held in their wallets totals $845,544,217 (16.76% of portfolios).
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Algorand (ALGO-USD) is an open source, decentralized blockchain network using a two-tier structure. Released almost rece...
16/05/2022

Algorand (ALGO-USD) is an open source, decentralized blockchain network using a two-tier structure. Released almost recently in 2019, the coin climbed its way into becoming one of the top 30 cryptos as per market cap.
Overall, as far as self-sustaining blockchain projects go, Algorand is one I think has tremendous long-term potential. Those looking to buy this market dip may want to put this token on their watch list.
Cardano (ADA-USD) is one of the largest blockchains to have successfully proven that proof-of-stake consensus mechanisms could work. Unlike Bitcoin and Ethereum (though Ethereum is shifting in this direction), Cardano uses staking as a primary method of validation and security on this blockchain. This greatly reduces the environmental impact other proof-of-work (mining) networks provide.
Accordingly, for those thinking long-term, Cardano may look attractive, considering the more than 80% drawdown from its peak this token has seen.
Near Protocol (NEAR-USD) is a project that was crafted to become a faster and more efficient alternative to Ethereum. Like other “Ethereum killers,” NEAR-USD has seen impressive interest of late. That’s despite what many consider to be a pivotal upcoming moment, with the Ethereum merge.
What is even more interesting is that Near is planning to create the decentralized and permission-less “open web.” This would mean that no government, company or individual entity will be able to shut it down

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The Treasury Department of the UK has expressed its reaction to the recent USDT and LUNA crash by affirming the regulati...
16/05/2022

The Treasury Department of the UK has expressed its reaction to the recent USDT and LUNA crash by affirming the regulation of stable coins. The move is not what was speculated by the crypto community; after one of the most trusted stable coins crashed.
As per the Telegraph, HM Treasury of the U.K. Treasury Department is moving forward with plans to regulate payment stablecoins. The spokesperson said—
Legislation to regulate stablecoins were used as a means of payment, will be part of the Financial Services and Markets Bill which was announced in the Queen’s Speech
The spokesperson further said that the move must create suitable conditions for service providers and issuers to grow and operate in the UK. It would also guarantee high regulatory standards and financial stability for such upcoming technologies to be used safely and reliably.
Two of the many bills put forward by Prince Charles at the Queen’s speech also mention crypto assets. An indication of what the UK has in its mind for crypto.
The British chancellor of the exchequer, Rishi Sunak said the Treasury’s plan will ensure that financial services in the UK are at the “forefront of technology and innovation.” However, the Treasury has made it clear that it will not include algorithmic stablecoins (like USDT) in the legislation. It said the coins do not guarantee stability.
The ministry has further detailed that the UK government has been clear that certain stablecoins do not make the cut to be suitable for payment purposes. The authorities will continue to monitor the broader crypto market and will take further regulatory action if and when needed.
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