The Crypto Institute

Home
The Crypto Institute

Bringing you the freshest Crypto News daily.
(2)

07/04/2022

Grayscale Investments announced Wednesday the quarterly rebalancing of its diversified crypto funds.

Crypto traders large and small look to the regular reshufflings for intel on which coins are popping onto the radar of one of the industry's largest asset management firms.

For the Grayscale Digital Large Cap Fund, the firm added Avalanche (AVAX) and Polkadot (DOT) to the mix without removing any assets.

For the Grayscale DeFi Fund, SushiSwap (SUSHI) and Synthetix (SNX) were removed. No new tokens were added.

For the newly launched Grayscale Smart Contract Platform Ex-Ethereum Fund, Cosmos (ATOM) was added to the fold. No tokens were kicked to the curb.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

06/04/2022

Hardware wallet provider Ledger announced a partnership with The Sandbox, the developer behind the eponymous open virtual world, which has over 2.2 million registered users and offers an NFT twist on the blocky aesthetics and survival mechanics of Minecraft.

The deal will see the two collaborate on educational content for new, potentially casual users in the Metaverse—a more immersive future internet that features interactive 3D avatars—on wallet security.

“The partnership will empower The Sandbox’s 2.2 million registered users with essential security, support, and best practices, as well as engage Ledger’s millions of users in over 180 countries to secure their metaverse holdings,” Ledger spokesperson Anastasia Golovina said in a statement.

Ledger is acquiring 36 tracts of land (represented by the token LAND) in The Sandbox virtual world, where it will create a series of unspecified play-to-earn educational games. Rogers said gamified education provided a seamless way into the industry without exposing users to, say, volatility.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

04/04/2022

Frax Finance’s FXS governance tokens have surged nearly 80% in the past week as Terra developers introduced the “4pool” liquidity pool on stablecoin swap service Curve Finance.

Sentiment among traders increased amid increased utility for FXS tokens. These tokens accrue value from the newly minted FRAX stablecoins and fees from Frax Finance. Frax founder Sam Kazemian said in a tweet that any stablecoin that uses 4Pool for its base liquidity will get direct support from both Terra and Frax.

FXS traded at $22 on Friday before the proposal was made public. Since then, it surged to as high as $44 on Sunday, before dropping to as low as $37 Monday morning as traders took profits.

4pool is composed of two decentralized stablecoins, UST and Frax’s FRAX, and two centralized stablecoins, USDC and USDT. It aims to increase the utility of Terra’s UST stablecoins through a partnership with Frax and Redacted Cartel, a tool for earning yields on locked tokens.

Decentralized, or algorithmic stablecoins, keep their dollar peg based on the value of assets, or a basket of assets that are provided by users, while their centralized counterparts rely on actual fiat backing held by their issuers.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

04/04/2022

Bitcoin (BTC) bounced off short-term support at $44,000 as momentum improved.

The cryptocurrency is up 5% over the past week, although resistance at $48,000 and $50,996 could stall the rally, similar to what occurred in September of last year.

This time, however, pullbacks could be brief, so long as buyers defend support above $43,000-$45,000.

Further, the significant loss of downside momentum, per the MACD indicator, over the past few weeks could encourage additional buying on price dips.

For now, BTC is testing support around its previous breakout point at $45,000. Upside exhaustion signals, per the DeMARK indicators provided a timely countertrend reversal set-up earlier this week, although a continuation of that sell signal has not been confirmed.

That means price action is currently neutral, pending a decisive break above or below the five-day price range.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

04/04/2022

DBS will not extend crypto trading services to retail consumers in the near future, its chief executive Piyush Gupta said at the bank's annual general meeting on Thursday (Mar 31), in what appears to be a U-turn of its stance on the asset class.

Gupta had said in February that it plans to extend crypto trading services to retail clients by the end of 2022. Its DBS Digital Exchange, launched in 2020, is currently a members-only exchange available to accredited and institutional investors. Its full-year trading volume for 2021 stood at about S$1.1 billion.

It’s not a secret that authorities in Singapore aren’t fans of retail crypto trading. Earlier this year, regulators banned direct-to-consumer marketing for exchanges and told crypto ATM operators to turn off their machines. It also put DeFiance Capital, one of the larger crypto funds in the city-state, on an investor alert list because it was “wrongly perceived as being licensed or regulated by the Monetary Authority of Singapore.”

But Singapore hasn’t changed its tone on institutional investment in crypto. That has always been what the country has been interested in developing as a hub, not retail, which requires nanny-like regulations to ensure amateur traders leveraging their retirement savings don’t get rekt when their crypto position is liquidated. Needing to regulate with a heavy hand isn’t what Singapore wants.

If DBS were to actually launch a retail crypto exchange it wouldn’t look like what many retail traders are used to seeing. There would be a limited selection of tokens, and decentralized finance (DeFi) would definitely be out of the question. While there would undoubtedly be an element of convenience because of the integration with the bank, it would be challenged to attract significant volume because it wouldn’t be competitive with leading exchanges in terms of features.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

31/03/2022

Circle has selected Bank of New York Mellon as its primary custodian for USD Coin (USDC) reserves.

In the past six months, Circle has seen its valuation double to $9 billion and the market cap of its USDC stablecoin increase 60% to $51 billion.

Circle, Tether, and other stablecoin issuers have been under increasing pressure from U.S. lawmakers to fully back their tokens with assets like cash or Treasury bills. The fear, regulators and lawmakers have said, is that a run on tokens that aren’t fully backed by cash could be calamitous.

For its part, Circle has maintained that the majority of its USDC is backed by U.S. dollars. In July, the company released a report showing that 61% of its reserves were in cash or cash equivalents.

The last time a report included a breakdown of USDC reserves in October, accounting firm Grant Thornton said all of USDC’s $33 billion reserves were in cash or cash equivalents.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

30/03/2022

Azuki, the hottest NFT project released so far in 2022 in terms of total trading volume, has just notched a new milestone.

The Ethereum-based profile picture project, which debuted in January, saw its first secondary sale over the $1 million mark (in USD) late last night.

Azuki #9605 sold for 420.69 ETH via the OpenSea marketplace, or $1.42 million at the time of the sale. That more than doubles the previous record sale for the project, which was of Azuki #4666 for 204 ETH on February 13, or about $586,000 at the time.

Twitter user trebooomin tweeted that he and the other members of Red Bean DAO—a collector DAO focused on Azuki—sold Azuki #9605, which they had previously purchased in January for 120 ETH (about $296,000). The listed buyer goes by the name Bitcoin4Freedom on Twitter.

Azuki is a profile picture project that spans 10,000 avatars, each with a randomized array of traits and visual elements. It’s similar in approach to projects like the Bored Ape Yacht Club and CryptoPunks in that approach, albeit with a distinctly anime-inspired aesthetic.

Azuki was created by Chiru Labs, a pseudonymous four-person team of builders that purportedly includes former employees of Facebook and Google, as well as former startup founders who went through the Y Combinator accelerator program.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

30/03/2022

Ronin, an Ethereum sidechain developed for the hit NFT game Axie Infinity, has been targeted in a hack that saw an estimated $625 million worth of cryptocurrency drained from its bridge.

Developer Sky Mavis announced the news today, writing that the exploit took place on March 23 but only discovered earlier today. The attacker used “hacked private keys” to execute the exploit, per the team’s report, and thus was able to forge transactions to claim the funds.

All told, the attacker took 173,600 WETH or Wrapped Ethereum (nearly $597 million) and 25.5 million USDC stablecoin ($25.5 million), adding up to about $622 million worth of crypto funds as of this writing. Most of the stolen funds are still sitting in the hacker’s wallet.

“This traces back to November 2021 when Sky Mavis requested help from the Axie DAO to distribute free transactions due to an immense user load,” it continues. “The Axie DAO allowlisted Sky Mavis to sign various transactions on its behalf. This was discontinued in December 2021, but the allowlist access was not revoked.”

Sky Mavis said that it has tapped law enforcement, forensic cryptographers at Chainalysis, and its own investors to “make sure all funds are recovered or reimbursed.”

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

29/03/2022

Crypto exchange Bybit on Monday said it will open its global headquarters in Dubai and crypto platform Crypto.com said it would establish a regional hub there, the latest moves in the UAE's drive to become a centre for the virtual asset sector.

Dubai, one of the UAE's seven emirates and the region's trade hub, this month issued its first law governing virtual assets and formed the Virtual Asset Regulatory Authority (VARA) to oversee the sector.

"Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai," the company said in a statement, adding that the headquarters is expected to commence operations in April.

Dubai this month granted virtual asset licences to Binance, the world's largest cryptocurrency exchange, and FTX Europe, a subsidiary of one of the largest crypto exchanges FTX. FTX will set up a regional headquarters in the city.

Crypto.com, a major crypto exchange based in Singapore, in a statement said it wanted to establish a significant presence in the UAE and would be launching a substantial recruitment drive in coming months. The UAE has been pushing to develop the virtual asset sector and regulation to attract new forms of business as regional economic competition heats up.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

28/03/2022

Bitcoin (BTC) appears to be overbought on intraday charts, which typically leads to a short-term pullback in price. The cryptocurrency faces initial resistance near $46,000, which is the top of a three-month long trading range. Still, support between $40,000-$42,000 could stabilize pullbacks.

On the weekly chart, BTC established a higher price low relative to the June 2021 bottom around $28,800. The latest cycle low was achieved this year on Jan. 24 at $33,100, indicating renewed buying strength. Further, momentum signals are on the verge of turning positive, which could support a short-term relief rally.

Stronger resistance is seen at $50,996, which is a 50% retracement of the prior downtrend. At that point, BTC's rally could stall, similar to what occurred in September 2021. This time, however, seasonal strength between April and May could keep buyers active, albeit within a year-long trading range.

On the monthly chart, momentum signals remain negative. That means upside is limited because of strong overhead resistance emanating from the April and November price peaks.

   

28/03/2022

Cryptocurrency exchange Coinbase Global (COIN) will soon require its customers in Canada, Japan and Singapore who send cryptocurrency to another financial institution or exchange to provide the name, address and, in the case of Japan, the destination wallet of the recipient. The move does not seem to be going over well with Coinbase customers in those countries, who value the built-in pseudonymity of cryptocurrency transactions.

According to a FAQ provided by Coinbase, for Canadian users, sending more than CAD $1,000 ($798) in crypto to a financial entity or other crypto exchange will require the name and address of the recipient. This will take effect starting April 4, Coinbase said, citing Canada's FINTRAC rules as reasons for the change.

For users in Singapore, all crypto transfers from a Coinbase user's exchange wallet to an outside address will require the recipient's full name and country of residence. This will take effect on April 1, with Coinbase citing local Singaporean regulations.

And in Japan, all transfers of crypto assets to recipients outside of Japan must include the recipient's name, address and destination wallet, according to the English translation of rules established by the Japan Cryptocurrency Trading Association (JVCEA). This will take effect on April 1.

   

25/03/2022

Faced with stiffening sanctions from Western countries over its invasion of Ukraine, Russia is considering accepting bitcoin as payment for its oil and gas exports.

In a videotaped news conference held on Thursday, the chair of Russia’s Duma committee on energy said in translated remarks that when it comes to “friendly” countries such as China or Turkey, Russia is willing to be more flexible with payment options.

Chair Pavel Zavalny said that the national fiat currency of the buyer — as well as bitcoin — were being considered as alternative ways to pay for Russia’s energy exports.

“We have been proposing to China for a long time to switch to settlements in national currencies for rubles and yuan,” Zavalny said in translated comments. “With Turkey, it will be lira and rubles.”

He didn’t stop with traditional currencies. “You can also trade bitcoins,” he said.

Bitcoin is up close to 4% over the last 24 hours to about $44,000. The price of the cryptocurrency spiked around the time that news reports of Zavalny’s remarks first crossed.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

24/03/2022

Bitcoin (BTC) pullbacks have been limited during the Asia trading day, suggesting that buyers could remain active above the $40,000 support level.

There is room for additional upside, although resistance at $46,700 could stall the price bounce.
Bitcoin's trading volume remains low relative to prior highs, although a decisive breakout above $46,000 could encourage additional buying activity.

For now, BTC remains in a month-long trading range and is attempting to reverse a four-month long downtrend.

Elsewhere, the recent outperformance in alternative cryptocurrencies (altcoins) such as ether (ETH) relative to bitcoin indicates bullish sentiment among traders. That means higher trading ranges are expected over the short term.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

24/03/2022

Today, South Korean game publisher Krafton, Inc. revealed a long-term agreement with Solana Labs, with plans to work together to develop and market blockchain and NFT-driven games that run on the Solana network. The firms also plan to explore co-investment opportunities.

Krafton is the company behind PUBG: Battlegrounds (originally PlayerUnknown’s Battlegrounds), a popular battle royale shooter franchise that spans multiple platforms.

Krafton has yet to announce whether it will bring PUBG or another franchise into the Web3 space or create new IP for NFT-driven blockchain games on Solana. While PUBG is Krafton’s best-known IP, the publisher also owns franchises such as Subnautica and Tera, and publishes mobile games like Golf King and Bowling King.

In February, Krafton revealed other Web3 initiatives, including equity investments of $2.5 million in online auction platform Seoul Auction Blue and $4.1 million in its XBYBLUE subsidiary. Krafton will work with Seoul Auction Blue and XBYBLUE to develop NFT-related projects.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

23/03/2022

Crypto exchange Crypto.com has made another splash in the world of sports partnerships, announcing Tuesday it will be an official sponsor of the 2022 FIFA World Cup.

The partnership will put the exchange’s branding all around the tournament’s Qatar venue, as well as within the stadium’s broadcast view. The total compensation for the deal was undisclosed.

"No sport brings the world together like football, and no sporting event brings the world together the way FIFA World Cup does,” Crypto.com CMO Steven Kalifowitz said.

“Only a few brands have the privilege to participate as official sponsors, and we jumped at the opportunity to be the first brand to represent the crypto industry in this historic month-long event.”

Crypto.com made headlines in November when it acquired the naming rights to the iconic Staples Center in Los Angeles, renaming it Crypto.com Arena. The deal was estimated to cost $700 million, which makes it the largest naming rights deal in sports history.

The exchange said in a Tuesday press release that it serves more than 10 million customers and has over 4,000 employees across offices in the Americas, Europe and Asia.

   

22/03/2022

Bitcoin (BTC) is consolidating around the $41,000 price level amid declining trading volume.

The cryptocurrency is roughly flat over the past 24 hours, and pullbacks could be limited toward a strong support base at $37,000.

Further, the relative strength index (RSI) on the four-hour chart is declining from overbought levels, which reflects a loss of upside momentum. On the daily chart, the RSI is holding above the 50 neutral mark, which means buyers could remain active at lower support levels.

On the weekly chart, technical indicators are improving, similar to what occurred in August 2021, which preceded a 60% price rally. This time, however, there is negative momentum on the monthly chart, which typically precedes rangebound or negative price action. That means upside could be limited around the $46,000-$50,000 resistance zone.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute

      

22/03/2022

Goldman Sachs is pushing further into the nascent market for derivatives tied to digital assets. The firm is the first major U.S. bank to trade crypto over the counter, CNBC was first to report. Goldman traded a bitcoin-linked instrument called a non-deliverable option with crypto merchant bank Galaxy Digital, the two firms said Monday.

The move is seen as a notable step in the development of crypto markets for institutional investors, in part because of the nature of OTC trades. Compared with the exchange-based CME Group bitcoin products Goldman began trading last year, the bank is taking on greater risk by acting as a principal in the transactions, according to the firms.

The options trades are “much more systematically relevant to markets compared to cleared futures or other exchange-based products,” Vanderwilt said. “At a high level, that’s because of the implications of the risk banks are taking on; they’re implying their trust in crypto’s maturity to date.”

Hedge funds have been seeking derivative exposure to bitcoin, either to make wagers on its price without directly owning it, or to hedge existing exposure to it, the firms said. The market for these instruments is mostly controlled by crypto-native firms including Galaxy, Genesis and GSR Markets.

For the daily scoop on crypto news & market data, come join our telegram channel for more exciting news & info :

https://t.me/thecrypto_institute  

   

19/03/2022

Today, C2X operator MetaMagnet Ltd. announced that it has sold $25 million worth of its token at that half-billion-dollar valuation in a round led by FTX Ventures, Animoca Brands, and Jump Crypto. FTX Ventures is the investment arm of crypto exchange FTX.

Other participants in the private token sale include Terra, Hashed, Crypto.com, Galaxy Interactive, Huobi Ventures, and The Walking Dead IP holder Skybound. FTX held a brief initial exchange offering (IEO) for C2X’s token (CTX) today, with a public listing scheduled for March 21.

Beyond those investors, other participants in the private token sale include Terra, Hashed, Crypto.com, Galaxy Interactive, Huobi Ventures, and The Walking Dead IP holder Skybound. FTX held a brief initial exchange offering (IEO) for C2X’s token (CTX) today, with public listing scheduled for March 21.

The firm’s notable games include licensed titles like MLB 9 Innings 22 and NBA NOW 22.

   

18/03/2022

ApeCoin, the token linked to the popular Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, is down about 80% in its first two hours of trading.

The token was airdropped to Bored Ape NFT owners this morning after being announced yesterday as a part of a larger ApeDAO campaign, but holders quickly selling the coin have sent its price plummeting.

The token has fallen from its highest price of $39.40 to a now stable $8.90, trading for as low as $6.48, according to CoinMarketCap.

The total market cap for the token now sits at a whopping $2.4 billion, making it currently the 49th-largest coin.

If earlier airdrops are any indication, however, that ranking isn’t likely to stick.

Owners of Bored Ape NFTs were airdropped 10,000 ApeCoins a piece, with 15% of the total supply being available to claim this morning.

Of the remaining supply, 47% will be sent to the Ape DAO treasury, 16% to parent company Yuga Labs, 8% to the BAYC founders and 14% to launch contributors.

   

18/03/2022

Bitcoin (BTC) continues to hover around the $40,000 price level amid choppy trading conditions. The cryptocurrency faces strong overhead resistance, which could stall the recent upswing in price. Still, lower support at $35,000 and $37,000 could stabilize pullbacks into the Asia trading day.

The relative strength index (RSI) on the four-hour chart is approaching overbought levels, similar to what occurred earlier this month, which preceded brief pullbacks in price. On the weekly chart, however, the RSI is rising from oversold levels, decreasing the likelihood of a significant price sell-off.

Typically, BTC consolidates for about two months following an extreme upswing or downtrend. That means the current trading range between $30,000 and $40,000 could persist until a decisive breakout or breakdown occurs.

   

18/03/2022

We at the crypto institute knows how difficult it can be to navigate the market at times, thus we have prepared two daily documents free of charge on our telegram group :

t.me/thecrypto_institute

Come join us for all the market data & crypto news to prepare you for your day!

17/03/2022

WHY IS BTC DOMINANCE IMPORTANT?

Bitcoin Dominance is a measure of how much of the total market cap of crypto is comprised of Bitcoin. It can help you understand the trend of BTC and alts.

The most important thing about Bitcoin Dominance is that it can help you understand if altcoins are in a downtrend or uptrend against BTC.

1) When BTC Dominance goes up, alts, on the whole, lose value against BTC.

2) When BTC Dominance goes down, alts on the whole, gain value vs BTC.

This means in most cases you’ll want to be in Bitcoin (or cash) when Bitcoin Dominance is in an uptrend, and then want to be in alts (including ETH, large caps, mid caps, low caps, etc) when Bitcoin Dominance is in a downtrend.

In most cases, a steep and consistent downtrend in dominance happens in crypto bull markets, because intense bull markets tend to propel alt capitalisations higher than Bitcoin. Likewise, a pullback of this trend is typically a sign of a bear market.

It is almost that easy. Of course, Bitcoin Dominance can have different implications on different time frames, and it is ultimately only one tool in a trader’s toolkit.

Stay tuned for more tips by The Crypto Institute!

   

17/03/2022

Bored Ape Yacht Club NFT holders are about to get yet another reward for being in the club: ApeCoin (APE), which launched on Wednesday.

Notably, the token was not created by Yuga Labs, the developer behind BAYC. It was created by ApeCoin DAO in an effort to show decentralization.

That being said, ApeCoin sports the BAYC skull logo, and Yuga Labs is adopting ApeCoin “as the primary token for all new products and services” including its blockchain game coming later this year, according to a press release. And on March 17, the Animoca Brands blockchain game Benji Bananas will also implement ApeCoin.

While there are a total of 1 billion ApeCoins in existence, many have already been distributed to interested parties. According to ApeCoin’s website, 9.75% of tokens will be held by Yuga Labs, 14% are being given to “launch contributors,” 8% are being given to the four founders of Yuga Labs specifically, and another 6.25% is being donated to the Jane Goodall Legacy Foundation.

Bored Ape and Mutant Ape NFT holders will also be able to claim a share of the ApeCoin supply. BAYC holders can claim about 10,000 APE per BAYC NFT, while MAYC holders will only be able to claim about 2,000 APE per NFT.

   

16/03/2022

Bitcoin (BTC) is recovering after multiple setbacks from the $40,000 resistance zone.

Technical indicators are mostly neutral and trading volume is low, suggesting a breakout or breakdown is likely this week.

So far, buyers have maintained a strong support base around $37,000, which could limit pullbacks over the short term.

The significant loss of downside momentum on the weekly chart could also encourage buying activity, especially if a breakout above $40,000 occurs.

On the monthly chart, however, momentum signals are negative, which means upside could be limited toward the $46,700 resistance level.

   

16/03/2022

Mark Zuckerberg, CEO of Instagram’s parent company Meta, confirmed on Tuesday that non-fungible tokens, better known as NFTs, will be coming to the picture and video sharing app. Zuckerberg made the announcement at the SXSW conference, but did not provide a specific date for when NFTs might drop on Instagram.

During his speech, Zuckerberg said he hopes one day that users will be able to mint the clothes of their digital avatars as NFTs, but admitted there is still work to do before that can happen.

More recently, during a virtual event last October, Zuckerberg announced that Facebook would be rebranding to Meta, saying its focus will be to bring the metaverse to life and help people connect.

Investors have reacted poorly to the news of Facebook's rebrand and pivot to the metaverse. Since the announcement, Meta's shares have tanked more than 20%.

Tuesday’s news of the Instagram NFTs appeared to trigger little response from investors. Meta’s shares closed up around 3% on a day when the overall market was up about the same.

   

Address

Website

https://t.me/thecrypto_institute

Alerts

Be the first to know and let us send you an email when The Crypto Institute posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Address
Alerts
Claim ownership or report listing
Want your business to be the top-listed Media Company?

Country:

City:

07/04/2022

06/04/2022

04/04/2022

04/04/2022

04/04/2022

31/03/2022

30/03/2022

30/03/2022

29/03/2022

28/03/2022

28/03/2022

25/03/2022

24/03/2022

24/03/2022

23/03/2022

22/03/2022

22/03/2022

19/03/2022

18/03/2022

18/03/2022

18/03/2022

17/03/2022

17/03/2022

16/03/2022

16/03/2022

Address

Website

Alerts

Shortcuts

Share