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As Solana Flips XRP, Market Pundits Ponder On The Possibility Of Ether Becoming Next In Line

Sol flips XRP as price targets $250, is Ether next in line?

Solana (SOL) isn’t slowing down in its journey to the top. The altcoin has been blazing through the market, sustaining significant gains and breaking its own all-time highs. The bullish wave has now successfully pushed SOL all the way up to the 6th spot, making it the sixth most valued asset by market cap.

Solana fiercely leads altcoins to the frontlineThe “Ethereum rival” as many have branded it seems to be taking out weaker competitors in the market. This time, XRP had to give way for Solana to claim the 6th position, as the latter’s market cap value soared past $50 billion. On the other hand, XRP is a couple of billion short of that value.

Solana (SOL) has also seen price value shoot up significantly. Interestingly, SOL imitated a trend pattern that was previously pulled by Cardano (ADA) back in May when the market plunged. While Bitcoin and other altcoins were recoding losses that went as high as 20%, ADA bulls defied the bearish trend and maintained price value all the way through. The market observed SOL doing the same this week when the market selloff sent Bitcoin and a handful of altcoins down, with the big bull losing over 11% in price value. 
Tron Exchange-Traded Product To Be Listed on Europe’s Biggest Stock Exchange

Open blockchain platform TRON (TRX) will join mutual fund VanEck as part of an upcoming listing on the Deutsche Börse German stock exchange.

The new product is an exchange-traded note (ETN) called VanEck Vectors TRON ETN (VTRX). It will debut on Europe’s largest stock venue tomorrow, with further expansion to Zurich, Paris, and Amsterdam expected.

 The TRON (TRX) protocol was founded in 2017 by Chinese-American tech entrepreneur Justin Sun, and aims to allow content creators to sell directly to their consumers.

Martijn Rozemuller, CEO at VanEck Europe, explains the firm’s motivation for establishing the TRON partnership.
Italian Luxury Fashion House Dolce & Gabbana Sells NFT Collection for $5.7 Million

On September 30, the Italian luxury fashion house Dolce & Gabbana sold an NFT collection for $5.7 million or 1,885 ether. The designers’ Collezione Genesi collection was sold via the platform UNXD, a Polygon network-powered marketplace.

Dolce and Gabbana’s Collezione Genesi Rakes in 1,885 EtherDolce and Gabbana’s first-ever non-fungible-token (NFT) drop, Collezione Genesi raked in a whopping 1,885 ether or $5.7 million, using ethereum (ETH) exchange rates at the time of sale on Thursday. Two notable NFTs brought in the most funds, “The Doge Crown” and “The Glass Suit.”“The Glass Suit” NFT was personally designed by Domenico Dolce and Stefano Gabbana and the suit is both an NFT and a physical version tailored specifically for the winner. There were also two versions of an NFT called “Dress from a Dream” in the 9-piece “one-of-a-kind collection.”“In a historic moment for the NFT ecosystem, Collezione Genesi is the first luxury NFT collection that involves both digital and physical works, truly bridging the physical and the metaphysical,” Dolce and Gabbana’s NFT web portal says.

The UNXD Culture Fund, Other Fashion Maisons Delving Into NFTs
BitMEX CEO Predicts Five Developing Countries Will Accept Bitcoin As Legal Tender Next Year – Here’s Why

BitMEX chief executive officer Alexander Höptner is predicting that five developing nations will follow in El Salvador’s footsteps and adopt Bitcoin (BTC) as legal tender by next year.

In a blog post, the head of the crypto exchange says BTC will help citizens of developing countries financially by reducing the transaction fees associated with sending money across the globe.

 “Remittances made up an astounding 23% of El Salvador’s GDP (gross domestic product) in 2020. Across the world, it’s nearly 10% of GDP in the Philippines, which has over 10 million overseas Filipino workers. According to World Bank data, low and middle-income countries receive about 75% of total global remittances.

This money has got to find a way home somehow. But the current system of remittances is…charging [people] an average of 10% just to send money home the next business day… People deserve better. So is it any surprise that Bitcoin – with its near-negligible fees and quick 24/7/365 transactions – would pique the interest of countries reliant on remittances?”
Forwarded from TrendGuru AI
​​A lot of good deals in September. Look at one more of them. As always, excellent performance from our TrendGuru AI.

💵💵💵
Closed deal FTM/USDT
Open: $0.26867, 06.08.2021
Close: $1.3955, 08.09.2021
Profit: +419.41%
Duration: 33 days
💵💵💵

What Is FTM?

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.

The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.

Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.
The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional PoS algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Subscribe to @TrendGuruBot and earn hundreds of percent on such projects with our AI.
CEX.IO Exchange has reduced the fees for withdrawal to Visa cards to 2.5%

Currently, this is the lowest commission for withdrawal to Visa cards among all cryptocurrency exchanges. This promotion will not last long, so hurry to take advantage of this opportunity and register right now!
Here’s What’s Next for Chainlink, Curve, Skale, The Graph, THORchain and VeChain, According to Analyst Michaël van de Poppe

Crypto strategist and trader Michaël van de Poppe has high hopes for a handful of altcoins amid Bitcoin’s (BTC) recent rally to new all-time highs.

In a new strategy session, the prominent trader begins by outlining his latest analysis on the native asset of the decentralized price feed service Chainlink (LINK).

 “At this stage I think that Chainlink is still in the area of interest if you want to get a position on this one. I think that’s completely fine, it’s just ready for a breakout.”

At time of writing, LINK is valued at $28.79, up 5% on the day but flat over the past week, according to CoinGecko.
The largest crypto casino 7BitCasino gives out free bonuses to newcomers

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Bitcoin Sidechain Protocol Mintlayer Set To Launch Testnet On November 10

Mintlayer, a blockchain for participating in trustless staking, lending, and borrowing with Bitcoin, has announced that it is going to launch its testnet on November 10, 2021. Thereby enabling asset tokenization, staking, lending, and decentralized exchanges for native Bitcoin.

With the aim of scaling the decentralized financial ecosystem layered on the Bitcoin network, Mintlayer has as a result received notable backings. Among the notable partners include Alphabit, Launchpool, A195, Moonwhale, X21, Iconomy, and Lotus Capital.
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Virtual Land Adjacent to Snoop Dogg’s Sandbox Estate Sells for $450K in Ethereum

The popular American rapper Snoop Dogg revealed at the end of September that he acquired land in the blockchain-based virtual metaverse The Sandbox and had plans to recreate his mansion. On December 2, The Sandbox held a “Snoopverse Land Sale,” which allowed participants to purchase land adjacent to the famous hip hop star’s virtual estate.

Plot of Land Next to Snoop’s Virtual Mansion in The Sandbox Metaverse Sells for Six-DigitsTwo days ago, The Sandbox disclosed it was selling virtual plots of land that are located next to Snoop Dogg’s virtual property. Snoop has been a cryptocurrency advocate for quite some time and in recent days, he revealed he was a non-fungible token (NFT) whale called “Cozomo de’ Medici.”

Then at the end of September, Snoop partnered with The Sandbox, a gaming ecosystem where people can create, share and monetize NFTs and gaming experiences on the Ethereum (ETH) network.
Ohio Republican Josh Mandel Takes Flak Over BTC Social Media Post

Josh Mandel – a Republican senate hopeful running in the state of Ohio – is taking flak for a tweet he posted which seems to compare bitcoin support with support for Christianity.

Josh Mandel Loves Bitcoin, but Not Everyone Thinks AlikeTo be fair, Mandel has long been a bitcoin and cryptocurrency proponent. He has spoken in favor of the asset on social media, though one tweet is landing him in some hot water with followers and haters alike.
Stellar Lumen (XLM) Price Aims Larger Increase To $0.28

Stellar lumen price is trading in a positive zone above $0.2000 against the US Dollar, similar to bitcoin. XLM price must settle above $0.2300 to continue higher.

Stellar Lumen Price Analysis (XLM to USD)After a major decline, stellar lumen price found support near the $0.1680 zone against the US Dollar. The XLM/USD pair started a decent increase above the $0.1700 and $0.1750 resistance levels.

The pair gained pace after it cleared the $0.2000 and $0.2020 levels. Besides, there was a break above a major bearish trend line with resistance near $0.2065 on the 4-hours chart. The pair even broke the 38.2% Fib retracement level of the downward move from the $0.2915 swing high to $0.1678 low.
Demand for UST Keeps Rising, Luna Foundation Guard to Burn 4.2 Million LUNA From Treasury

The Luna Foundation Guard (LFG), a nonprofit organization, has announced new measures to keep the supply of UST, the flagship stablecoin of the Terra ecosystem, liquid in secondary markets. The protocol has already reached the max issuance of UST per day, but demand is strong enough that the foundation will have to burn more LUNA to guarantee the supply of UST in these markets.

Luna Foundation Guard to Burn 4.2 Million LUNA for USTThe Luna Foundation Guard, an organization dedicated to supporting projects from the Terra ecosystem, has decided to act to increase the supply of UST in secondary markets. The most common way of obtaining UST, the dollar-pegged stablecoin of the Terra ecosystem, is to burn LUNA in the protocol treasury. However, due to the increased demand for UST, the maximum quantity of the stablecoin is being issued each day, leaving a lot of investors without access to the currency.

These investors then have to go to secondary markets such as exchanges and decentralized finance applications to satisfy demand. As such, the Luna Foundation Guard council voted in favor of burning 4.2 million LUNA to UST and selling it to markets like Curve, whose stablecoin pools have been losing balance due to the high demand.

Anchor AttractionThis is the second time that the organization has decided to step in to restore the balance in Curve pools this month. Just recently, the foundation decided to act in the same way, announcing they had decided to burn 5 million LUNA to issue UST that was used to fix these imbalances.

The proceedings of that operation were used to buy bitcoin for the treasury, and the Luna Foundation Guard also decided to use funds from this latest operation to buy more bitcoin for the forex reserve used to support UST’s price in moments of market stress.

A large part of Terra’s attraction for investors seems to be Anchor, a protocol that lets its users earn interest of almost 20% on the UST deposited. At the time of writing, Anchor has amassed almost 10 million UST in deposits. LUNA, the stabilizing partner token of the Terra protocol, has also benefited from this action. LUNA is now sitting at almost $100, with a rise of more than 50% in value in the last 30 days, according to data from Coingecko.
Tanzania Officials Want Global Clarity on CBDCs and Crypto Assets

Officials from Tanzania’s financial sector have called for a clearer global consensus on central bank digital currencies (CBDCs) and crypto-assets. The officials agreed that more discussions still need to be carried out before a final decision is made.

Interoperability of CBDCsJust under a year after the Tanzanian President Samia Suluhu Hassan asked the country’s finance chiefs to prepare for cryptocurrencies, officials from the country’s financial sector are now calling for a clearer global stance towards central bank digital currencies (CBDC) and crypto-assets.

The officials, the Finance and Planning Minister, Mwigulu Nchemba and the central bank governor, Florens Luoga, have both reportedly agreed that further discussions around the two topics are needed before any decision is made.
Square Enix Closes $300 Million Sale of Western Studios to Bankroll Blockchain Pivot

Square Enix, the influential Japanese gaming and publishing company, has sold its Western studios and some of its Western intellectual properties (IPs) to Embracer Group. The deal, which values these properties at $300 million, will allow the company to focus on the development of new businesses more aligned with the refined direction of the company, which includes blockchain, the cloud, and AI as core elements.

Square Enix Sells Assets to Refocus Its BusinessSquare Enix, one of the most recognized Japan-based game publishing and development companies, announced the sale of part of its assets earlier this week to finance new operations that include blockchain-based endeavors. The creator of franchises like Final Fantasy, Kingdom Hearts, and Dragon Quest, is shedding its Western studios and IPs to the Embracer Group.

The deal, which includes the sale of studios like Crystal Dynamics and Eidos, makers of Tomb Raider, is valued at $300 million, and also includes more than 50 game IPs. On the objective of this sale, the company stated in a press release that:

The transaction will assist the company in adapting to the changes underway in the global business environment by establishing a more efficient allocation of resources, which will enhance corporate value by accelerating growth in the Company’s core businesses in the digital entertainment domain.

Furthermore, the company explains that this transaction “enables the launch of new businesses by moving forward with investments in fields including blockchain, AI, and the cloud.” The deal aims to aid in the management of the company, which will now be comprised almost entirely of Japan-based development studios, retaining some minimal businesses abroad.

Blockchain PivotThis move is being directed to put ideas into play that Square Enix president Yosuke Matsuda has been announcing since last year, when the company included blockchain as an important part of its midterm business plan. The executive has declared the company is very interested in the application of blockchain technologies to gaming and the benefits this might have for players who contribute actively to these experiences.

On the relevance of such new technologies, Matsuda has declared that by applying blockchain tech to incentivize modders of games, the creation of more original content can be brought about, hinting at the application of token economies in these games. Square Enix has been one of the most optimistic companies about blockchain and the play-to-earn model, alongside Ubisoft, which has also started to include NFT elements in some of its games.
Coinweb is one of the most promising projects

Now the price of CWEB token on exchanges Gate.io and Kucoin grows against the market. The project is the killer of DOT and similar services. Now its price is only $0.02, although at the start of trading a few months ago it was worth more than $0.2. Analysts agree that the token could be worth more than $0.5 by the fall, and will reach $1 in 2023.
Bitcoin Cash Analysis: Bulls Face Hurdles Near $200

Bitcoin cash price is struggling below $200 against the US Dollar, similar to bitcoin. BCH/USD could start a fresh decline if it stays below $200.

Bitcoin Cash Price AnalysisBitcoin cash price made a few attempts to gain strength above $210 and $215. However, BCH failed to gain pace and started a fresh decline below the $200 level.

There was a move below the $188 level and the 55 simple moving average (4-hours). Besides, there was a break below a key bullish trend line with support near $189 on the 4-hours chart of the BCH/USD pair. The price even traded below the $185 support and formed a low near $182.
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Three Arrows Capital Files for Bankruptcy in the US to Protect its Assets from Liquidators.

Summary:

Three Arrows Capital has filed for Chapter 15 bankruptcy in New York3AC filing for bankruptcy comes less than a week after a British Virgin Islands court ordered the hedge fund into liquidation.The financially embattled crypto hedge fund of Three Arrows Capital has filed for Chapter 15 bankruptcy in New York. According to a report by Bloomberg, the move will protect its US assets while liquidation is carried out in the British Virgin Islands, where a court gave the go-ahead for Teneo Restructuring to carry out the process.

Three Arrows Capital was founded by long-term friends Su Zhu and Kyle Davies. The duo both studied at Columbia University before working briefly for Credit Suisse. They would go on to found Three Arrows Capital, estimated to manage as much as $10 billion in cryptocurrency assets at its peak.