Day: April 10, 2023

NFT and Traditional Artists Descend on New York for Babylon Art Exhibition

New York, US, April 10th, 2023, Chainwire

Babylon x NYC, an exhibition of more than 100 physical and digital artworks, will take place in New York City on April 12-13, 2023. The exhibition, set up by Babylon — a Web3 gallery specializing in primary sales of NFT editions — will showcase works by the project’s 30 Founding Artists, well-known for their impact on the NFT art space.

Also featuring, as highlights exclusive to the exhibition, are works by prominent Armenian artist Tigran Tsitoghdzyan, whose debut drop on Ethereum will be hosted on Babylon, and — for the first time on public display — the personal collection of Babylon founder Paruyr Shahbazyan.

Babylon’s Founding Artists include mainstream creators like Rik Oostenbroek, who, in a 20-year career, has worked with the likes of Mercedes-Benz, Apple, and Nike; Archan Nair, whose work has been featured in Rolling Stone and Vogue, and Terrell Jones, whose gangster film-inspired pieces have been auctioned at Sotheby’s.

The team and Founding Artists will be on hand to showcase this new NFT platform, which intends to become the home of NFT Editions, at the opening night on April 12. Babylon x NYC will then open to the public on April 13.

Babylon is a passion project of founder Shahbazyan. He has dubbed it his ikigai — a Japanese concept that means ‘your reason for being.’ Shahbazyan is considered one of the largest and most followed independent NFT collectors, whose collection is estimated at around 4,000 ETH and features rare and valuable pieces such as a 3D Glass Hoodie Punk, a Spiral Fidenza, and a Red Ringer.

He explains the significance of the Babylon x NYC exhibition:

“Art has always occupied a special part of me, but I wanted to make an impact in the space rather than remain purely a collector.”

“The emergence of NFTs has offered an opportunity to change and democratize the art world as much as printmaking did in the 18th century. Babylon is bringing in new sales mechanisms based around editions which will create an art world that is fairly distributed and open for all.”

Tickets for the Babylon x NYC public exhibition are available here, and the exhibition booklet can be viewed here.

To enquire about attending the private opening night event as a media representative, please email mia@babylon.art. 

[image 1] Tigran Tsitoghdzyan, Self Isolation IV (2021), on display at Babylon x NYC

[image 2] Rik Oostenbroek, The Indecisive (2023), NFT, on display at Babylon x NYC

About Babylon

Launched in January 2023, Babylon is a Web3 gallery specializing in primary sales of NFT editions, created and run by a consortium of Founding Artists and collectors. Our vision is to make selling and collecting art accessible to all, amplifying the inherently democratic medium that editions are via a flexible listing model and diverse sales mechanics.

Website | Twitter

Contact

Head of Comms, Mia Agova, Babylon, mia@babylon.art

The post NFT and Traditional Artists Descend on New York for Babylon Art Exhibition appeared first on CoinJournal.

Solana on-chain staking now on crypto exchange Crypto.com

Solana is a top blockchain network and its native SOL token ranks among the largest by market cap.
SOL on-chain staking is now supported on Crypto.com.
Investors can earn rewards of up to 5% when they stake SOL on Crypto.com.

Solana on-chain staking is now available on Crypto.com, a leading cryptocurrency exchange based in Singapore.

An announcement from the exchange on Monday revealed that Crypto.com now supports SOL on-chain staking. According to the crypto platform, SOL holders can now earn more SOL rewards when they stake on Crypto.com, with up to 5% APR.

There are also no fixed terms or minimum staking amount, the exchange announced via the Crypto.com Institutional Twitter account.

All about efficiency and performance? You’re gonna love this. SOL is now available for on-chain staking on the https://t.co/A7lhUEyoao Exchange. Earn more #SOL rewards when you stake now! https://t.co/w5IWWkOtqC

⬆️Up to 5% APR
🚫No fixed terms
🤏No min. staking amount@solana pic.twitter.com/QGJFFBps1c

— Crypto.com Institutional (@Cryptocom_Insto) April 10, 2023

Solana among best crypto assets for staking

Crypto staking platforms are crypto exchanges, brokers, or apps that allow users to earn rewards on their crypto assets by making it possible for them to lock the tokens in wallets or staking pools for a reward that comes after a set period.

The staking process allows proof-of-stake blockchains to use staked coins to support and secure the network – which is different from the mining process of proof-of-work blockchains like Bitcoin.

Solana is the third-largest crypto asset by staking market cap, behind only Ethereum and Cardano. However, according to the latest on-chain data for staking, the Solana network boasts the largest market share when it comes to staking reward ratio.

Staking ratio refers to the percentage count of tokens eligible for staking that are being staked, and Solana’s ratio is currently at over 71%.

In comparison, Ethereum, which transitioned to a proof-of-stake consensus mechanism in September 2022 via the Merge, only has staked ETH at 15.64%. Ethereum staking was introduced in December 2020 with the Beacon Chain genesis.

Cardano and Cosmos have about 67% of tokens eligible for staking.

The post Solana on-chain staking now on crypto exchange Crypto.com appeared first on CoinJournal.

Bitcoin retests $29,300 as key metric signals parabolic BTC move

Bitcoin price has broken above $29k, testing the $29,300 zone.
On-chain data shows BTC holders are increasingly betting long on the asset.
A macro sentiment indicator suggests Bitcoin price is poised for a parabolic move.

Bitcoin rose more than 4% on Monday to break above $29,300 again, with data showing the gains come amid a rising count of BTC holders.

The week ahead is expected to be huge for the market in terms of the economic data releases. But even as the broader market awaits the US consumer price index report, Santiment says most trader in the Bitcoin market are increasingly looking at the asset as a long-term bet.

💰 There is a rising rate of #Bitcoin #hodlers as traders seem to have become increasingly content in keeping their bags unmoved for the long-term. We saw a similar trend from January, 2021 through April, 2021 when $BTC rose above $64k for the first time. https://t.co/xrwNhcqVLo pic.twitter.com/wYFBsx6Css

— Santiment (@santimentfeed) April 9, 2023

It’s a trend likely to buoy a new upside momentum for bulls.

Bitcoin price indicator in focus – the aSOPR

According to Bitcoin analyst Ali on Twitter, BTC is primed for a parabolic ride given the outlook of one of Bitcoin’s macro market sentiment indicators.

In a price forecast he shared as BTC entered last weekend in a tight range around $28k, the analyst pointed to the Adjusted Spent Output Profit Ratio (aSOPR). The potential movement is still in play as Bitcoin crossed above $29k again on Monday.

Another Bitcoin indicator hints at explosive growth! Historically, aSORP (90d) below 1 signals a bear market, & above 1 signals a bull market. In 2015, 2019 & 2020, it led to 6,110%, 150%, & 579% gains. aSORP recently moved above 1, suggesting $BTC readies to go parabolic,” the analyst noted.

BTC/USD currently trades around $29,200 and bulls will want to have the stubborn supply zone at $30k locked up with a major breakout performance. 

If not, the consolidation seen in the past several weeks and a possible dip below the range is likely.

The post Bitcoin retests $29,300 as key metric signals parabolic BTC move appeared first on CoinJournal.

KBW downgraded Block stock on Monday: find out why

KBW analyst now rates Block stock at market perform.
Steven Kwok still sees upside in “SQ” to $75 a share.
Block shares are currently down over 25% year-to-date.

Shares of Block Inc (NYSE: SQ) are trading down this morning after a KBW analyst downgraded the crypto company citing several “small risks”.

Block Stock could still climb to $75

Steven Kwok now rates the San Francisco-headquartered firm behind Cash App at “market perform”. His lowered price target of $75, though, still suggests about a 10% upside on its previous close.

The analyst finds Block stock a bit less attractive now that multiple risks are piling against it. His research note reads:

This big items revolve around rising competition within acquiring, and potential for regulatory scrutiny within its Cash App segment.

In February, Block Inc reported weaker-than-expected earnings for its fourth financial quarter.

Hindenburg has a short position in Block Inc

Kwok is not convinced that the company’s income from instant deposit fees or unregulated interchange are very dependable. Rising competition, he said in his research note, could also weigh on take rates, volume growth, and profitability.

Strength in its seller business is rooted in its in-store offering, and as more goods are sold online, this could shift purchase volume to marketplaces and eCommerce focused platforms like Shopify.

Last month, short seller Hindenburg Research also took aim at the crypto company, alleging that its Cash App has a lot of fake/duplicate accounts, many of which were involved in criminal activities.

Year-to-date, Block stock is down more than 25% at writing.

The post KBW downgraded Block stock on Monday: find out why appeared first on CoinJournal.

Wemade launches Web3 live chat app Tangled on NFT platform NILE

Wemade says Tangled features an AI-based verification system to enhance safety for the Web3 live chat users.
Users can accumulate time points and swap them for utility tokens like WEMIX.
Wemade is making giant steps in bridging traditional gaming to Web3 and blockchain.

Wemade, a leading South Korean based gaming and blockchain company, has today launched the new Talk to Earn (T2E) decentralised application dubbed Tangled on its DAO and NFT Platform NILE.

The popular video game developer, whose The Legend of Mir title is one of the biggest gaming hits, shared the news via a press release on Monday. 

According to Wemade, the Web3 live chat dApp uses AI-based AI-based verification to ban fake gender accounts or profiles. The artificial intelligence helps to ensure dApp users enjoy the highest standards of safety and chat experiences, the firm noted.

Live chat and earn points

Tangled users will have an opportunity to chat with others across the globe. The chat application has a built-in mechanism that allows users to earn time points as other users accept their chat offer.

Accumulated points are then saved in native Tangled NFT called Tangled Timepieces. The NFTs are in three grades – Luxury, High-End, and Zenith. A user can fuse same grade NFTs to achieve a higher grade NFT. Higher graded pieces mean more time points and longer live chat times.

Users can also exchange time points for TIPO, a utility token that one can then swap for other digital assets such as WEMIX.

Microsoft-backed Wemade has been aggressive in its blockchain and Web3 strategy since CoinJournal reported on the firm’s “blockchain facelift” for Legend of Mir in 2020. 

The company recently partnered decentralised warehousing provider Space and Time to help power its blockchain gaming platform WEMIX PLAY. The collaboration will see Wemade help the next wave of GameFi development, Wemade announced.

The UNI token also rallied last July when Wemade announced it would add liquidity to Uniswap. The Korean game developer’s interest via the WEMIX/USDC pool on Uniswap V3 saw huge volume spikes, aiding the uptick in UNI price.

The post Wemade launches Web3 live chat app Tangled on NFT platform NILE appeared first on CoinJournal.

Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip

Chiliz price drifted sideways on Monday as the price of key fan token dropped sharply. The CHZ token was trading at $0.1297, where it has been in the past few days. This price is about 37% above the lowest level this year and ~26% above March’s low.

Fan token prices retreat

Chiliz is a leading platform in the blockchain industry. It is a unique platform in the entertainment and sports industry. Its primary platform is known as Socios, which helps people trade fan tokens of some of the biggest teams in the world.

Chiliz also provides a smart contract platform that makes it possible for teams to build fan tokens.Today, data compiled by Fan Market Cap shows that there are 82 fan tokens that have a combined market cap of more than $382 million.

In most periods, Chiliz tends to do well when fan tokens are rising. In the past few days, some fan tokens have done well, with OG’s token jumping by over 257%. Other top fan tokens like Manchester City and Alpine have risen by 16% and 51%, respectively in the past 7 days.

However, most of these tokens are some of the worst performers in the past 24 hours. OG price has dropped by 20% in the past 24 hours while Alpine, Arsenal, Inter Milan, and Atletico Madrid have dropped by double-digits in the same period. 

Another reason why the CHZ price is struggling is that the overall volume has dropped in the past few days. The token’s volume jumped to a high of 319.85 million on April 8, the highest level since February 22. This volume has dropped to ~83 million on Monday. 

Chiliz price prediction

So, is it worth it buy Chiliz? The daily chart shows that the CHZ price has been in a tight range in the past few days. This price is consolidating at the 50-day and 25-day moving averages. It has moved above the ascending trendline that connects the lowest level since June last year. The Relative Strength Index (RSI) has moved below the key level at 60.

Therefore, the token will likely remain in this range for a while and then retest the ascending trendline at $0.10. A move above the key resistance at $0.1432 will invalidate the bearish view.

How to buy Chiliz

Bitstamp

Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


Buy CHZ with Bitstamp today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


Buy CHZ with Binance today

The post Chiliz Price Recoils as JUV, Alpine, ATM, OG fan tokens slip appeared first on CoinJournal.

South Korean crypto exchange GDAC hacked for $13 million

South Korean exchange GDAC reported the hack early Monday.
The exchange said the hackers stole nearly 61 BTC, 350.5 ETH, 10 million WEMIX tokens and 220,000 USDT.
On-chain data shows the hacker has swapped USDT for ETH and sent 461 ETH to a crypto mixer.

Crypto news out of South Korea is that hackers stole nearly $13 million from the crypto exchange GDAC. The exchange reported that the incident occurred on Sunday.

According to the exchange’s security update, the hackers transfered roughly 61 bitcoin, 350 ether, 10 million WEMIX tokens and 220,000 USDT from its hot wallet.

In total, the hack left GDAC with a $13 million or so hole in stolen crypto, with the lost funds accounting for 23% of the exchange’s total custodial holdings.

As a result of the hack, GDAC suspended its wallet system, pausing deposits and withdrawals. The exchange also announced it had reported the hack to the South Korea police, requesting for a cyber investigation.

Hacker sends 461 ETH to Tornado Cash

GDAC said the assets were taken from its hot wallet, with the hackers transferring the coins to an unknown crypto wallet. 

While GDAC says its working with Korean security experts and authorities in a bid to recover the funds, crypto market intelligence firm Arkham reports the hacker has swapped the USDT into ETH. 

The blockchain intelligence platform revealed on Monday that the attacker had already sent approximately 461 ETH to the crypto mixing platform Tornado Cash.

The post South Korean crypto exchange GDAC hacked for $13 million appeared first on CoinJournal.

Bitcoin price prediction: Watch out for CPI event this week

Bitcoin price hovers above $28k with a ranged trading over the past month.
Analyst Michael van de Poppe says the US consumer price index report out this week could be a big market mover.
Bitcoin’s volume weighted average price (VWAP) is a metric to also watch.

Bitcoin price continued its ranged trading this past weekend, with bulls retesting the $28,500 area. As the week starts, the top cryptocurrency could see an injection of volatility.

Indeed, crypto analyst Rekt Capital says bitcoin remains “well positioned for mid- to long-term upside”, particularly as the cryptocurrency moves towards its next halving event. 

#BTC is very well-positioned for mid- to long-term upside

It would be a shame to miss out on the exponential post $BTC Halving gains#Crypto #Bitcoin pic.twitter.com/FE1j3nCTmN

— Rekt Capital (@rektcapital) April 9, 2023

But what about the next few days? Below is what analysts say about Bitcoin price this week.

Bitcoin price prediction ahead of CPI data this week

According to crypto analyst Michael van de Poppe, BTC is still in consolidation – which has stretched from around mid-March. But with big economic news on the cards this week, the market could be in for a bit of movement.

In a comment on Bitcoin price he shared on Monday, van de Poppe said the upcoming Consumer Price Index (CPI) data expected on 12 April is a “big event this week.” 

If buyers manage to retest the $28,600 level, its likely BTC will break higher.

Bitcoin is still stuck in the range. Good move overnight to $28,500 and back to consolidation. Big event this week with CPI, probably the market mover. If another test of $28,600 takes place, I’m assuming we’ll be breaking out upwards,” the analyst noted.

Here is the analyst’s Bitcoin price chart.

#Bitcoin is still stuck in the range. Good move overnight to $28,500 and back to consolidation.

Big event this week with CPI, probably the market mover.

If another test of $28,600 takes place, I’m assuming we’ll be breaking out upwards. pic.twitter.com/soCWROaeDy

— Michaël van de Poppe (@CryptoMichNL) April 10, 2023

Trading volume metric and BTC price outlook

Pseudonymous analyst bitcoindata21 also says the CPI news this week will likely be a major market catalyst. However, he also highlights Bitcoin’s Volume Weighted Average Price (VWAP), which he says currently sits on the benchmark cryptocurrency’s all-time highs.

VWAP takes into account the average price of a trading asset as weighted by its total trading volume. 

The metric helps analyse and forecast price movement based on the average value over a given period. In this case, bitcoindata21 highlights the 30-day VWAP on 15 April, with a potential upward crossing on 13 April.

The chart below bitcoindata21 shared on Twitter shows a comparison of the 2019 and 2023 price movements.

Bitcoin price VWAP historical data outlook comparing 2019 and 2023. Source: bitcoindata21 on Twitter.

The 1-month sideways trading along the VWAP is similarly positioned as was in 2019 before BTC went on to hit a new all-time in the last bull market.

The post Bitcoin price prediction: Watch out for CPI event this week appeared first on CoinJournal.

Bitget starts a new $100M fund targeting Asian Web3 startups

Crypto projects are seeking non-US jurisdictions
There has been a surge in crypto-targeted crackdowns by authorities in the US.
On the contrary, East Asian countries have been making strides to promote crypto in the last few months.

Seychelles-based crypto exchange Bitget has launched a new $100 million Asia-Focused Web3 Fund. The cryptocurrency exchange aims to take advantage of the recent strides by a majority of Asian countries to promote cryptocurrencies over the last months as opposed to the recent crypto crackdowns in the United States according to recent crypto news.

The exchange seems to follow in the footsteps of the Huobi cryptocurrency exchange, which IN February intends to expand into Hong Kong by seeking a license to operate in the country.

Hong Kong is seemingly easing its crypto regulations while Japan recently approved a whitepaper for Web3 development.

In a statement sent to media outlets, Gracy Chen, the Managing Director of Bitget, said:

“Despite the bear run, Bitget has always been supporting promising and innovative projects and the development of the Web3 environment with a focus on BUIDL. The launch of Bitget Web3 Fund is a continuation of our ongoing efforts to drive the adoption of crypto and Web3, reflecting our ‘Go beyond derivative’ strategy in 2023.”

A self-funded fund

According to a spokesperson at Bitget, the newly unveiled fund will be self-funded. The spokesperson said:

“Bitget is debt-free with adequate cash flow, thanks to its steady development and fast-growing business.”

Bitget exchange seems to be on an investing spree since the launch of this fund comes days after the exchange made another $30 million investment into the decentralized multi-chain wallet BitKeep.

The post Bitget starts a new $100M fund targeting Asian Web3 startups appeared first on CoinJournal.

Report showing Binance.US unable to find bank partners in the US

The recent failures of Silvergate and Signature Bank left Binance.US without banking services.
Binance.US is looking for a new bank partner to serve as a fiat on-ramp and off-ramp for its clients in the US.
A WSJ report has however indicated that the exchange is facing challenges in identifying the bank partner.

Binance.US, the United States arm of global crypto exchange Binance, is in the process of identifying a new bank partner that will serve as a fiat on-ramp and off-ramp. The crypto exchange was left with a bank partner after the collapse of the Silvergate and Signature Bank.

However, according to a report published by the WSJ on April 8, Binance.US has been facing challenges in establishing a new bank partner. According to the report, the exchange has been depending on middleman banks to store funds.

Currently, Binance.US is holding customer funds through the financial technology firm Prime Trust’s banking partners.

Regulatory crackdown on banks with crypto clients

Binance.US has had a number of attempts in establishing a direct banking relationship with the likes of Cross River Bank and Customers Bancorp, but they have all failed.

The regulatory crackdown in the US on banks with cryptocurrency clients is seen as a major factor contributing to the struggles the exchange is facing in identifying a new banking partner.

Binance has been the focus of the US Commodity Futures Trading Commission (CFTC) investigation since 2021. The CFTC sued Binance Holdings and its CEO, Changpeng “CZ” Zhao, last month for alleged trading violations. And although CZ issued a statement refuting CFTC’s allegations, the lawsuit has had a significant effect on the exchange including leading to a drop in the exchange’s crypto market share.

The absence of a direct bank has greatly affected Binance.US customers, especially after Binance said that some US dollar deposit services would be temporarily affected as it transitions to new banking and payment service providers over the next few weeks.

The post Report showing Binance.US unable to find bank partners in the US appeared first on CoinJournal.


Verified by MonsterInsights