3 key reasons why Polkastarter (POLS) price rallied 500% since December

New partnerships, interest in initial decentralized exchange offerings and the success of Polkadot back Polkastarter’s impressive 500% rally. Polkastarter (POLS) is a cross-chain token pool and auction protocol built on the Polkadot (DOT) blockchain. It launched in October of 2020 as a way for projects to raise capital in a decentralized environment and since January the token has rallied 500% to a new high at $1.78. Three possible reasons for the recent growth of POLS are the strong rally seen from Polkadot, strategic partnerships and exchange listings and an expanding…

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Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

While bitcoin and a variety of digital currencies have swelled in value, a number of critics have spread fear, uncertainty, and doubt (FUD) in regard to the energy consumption proof-of-work (PoW) cryptocurrencies leverage to produce new units of currency. Just recently the software engineer Stephen Diehl expressed his dissatisfaction over the environmental cost of bitcoin. However, cryptocurrency supporters believe Diehl failed to mention the amount of renewable energy used by a great number of mining facilities, alongside the insurmountable cost to operate today’s banking system. Bitcoin’s Waste of Energy Argument…

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Projects weigh security risks, benefits of liquidity pool token collateral

Liquidity pool token-backed collateral could bolster DeFi’s TVL, but can it be used securely? Multiple decentralized finance (DeFi) projects are moving forward with plans to allow liquidity provider tokens as collateral for stablecoin and lending services — though experts caution that the security considerations associated with using LP tokens in this manner can be complex.  LP tokens are distributed to liquidity providers on automated market makers (AMMs) to represent a provider’s stake in a liquidity pool. Providers are incentivized with trading and protocol fees that are paid out upon withdrawal.…

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Horizen Labs’ co-founder says CBDCs could raise Bitcoin awareness

Central Bank Digital Currencies, or CBDCs, will likely affect Bitcoin in some fashion. Central bank digital currencies gained traction all over the world in 2020, as all the world’s biggest economies considered producing their own digital money. But how will CBDCs affect Bitcoin (BTC) if every country comes out with its own? Dean Steinbeck, co-founder and chief operating officer of Horizen Labs, posited that Bitcoin’s core atmosphere would remain the same on the surface.  “There has recently been plenty of activity internationally with governments exploring the development of native virtual assets,”…

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xSigma Announces Its ETF-Like Decentralized Fund and Platform

PRESS RELEASE. ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN“, “ZK International” or the “Company”), a designer, engineer, manufacturer, and supplier of patented high-performance stainless steel and carbon steel pipe products primarily used for water and gas supplies, is pleased to announce its ETF-like decentralized fund and platform, which is the second DeFi project in xSigma’s ecosystem. The project’s website: https://xsigma-etf.com. The announced ETF-like protocol will be a decentralized fund based on Ethereum blockchain, that will diversify between major crypto assets related to the DeFi space. In addition, it will…

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Coinbase buying spree continues with the acquisition of Bison Trails

Bison Trails, a leading blockchain infrastructure platform, has been acquired by the San Franciso-based exchange. Coinbase, the U.S.-based cryptocurrency exchange, has made another strategic acquisition — this time in the critical field of blockchain infrastructure.  The company announced Tuesday that it had acquired Bison Trails, a fully managed blockchain infrastructure provider, in a deal that provides a “foundational element” within its growing ecosystem of products. Coinbase said: “By joining forces, we aim to bring the advanced technology that the Bison Trails team has developed — and continues to develop —…

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Enjin Coin surges 71% after becoming first regulatory approved gaming token in Japan

The asset recently received the blessing of the Japanese Virtual Currency Exchange Association. On Jan 19, Blockchain-based Enjin Coin (ENJ) became the first gaming cryptocurrency to be legally authorized for trade by the Japanese Virtual Currency Exchange Association (JVCEA). This coincided with a sudden 71% increase to the coin’s dollar value which occurred within just 9 hours, and saw the ENJ coin price jump from $0.236340, up to a 3-year high of $0.406356. ENJ/USD. Source: CoinMarketCap.com “Enjin Coin has been approved by the JVCEA and will be listed on Coincheck…

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With Record Bitcoin Buys, How Are Grayscale’s Investors Doing?

Grayscale’s Bitcoin Trust (GBTC) made headlines again yesterday with its record one-day addition of 16,244 bitcoin, adding to its stack of over 630,000 bitcoin and an assets under management (AUM) totaling about $23 billion. Evidently, business is good. So, who are Grayscale’s investors? Is GBTC’s premium an incentive, or a disincentive? And where will this fund move in the future? What Is GBTC?  Grayscale owns bitcoin in its GBTC trust and investors buy shares that represent a number of those bitcoin. There’s a 2 percent per year management fee, in addition…

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Australian Bitcoin Trader Sues Banks for Systematic Discrimination

An Australian bitcoin trader has filed a lawsuit against two of the country’s biggest commercial banks, accusing them of systematic discrimination when they closed his accounts on short notice. Allan Flynn is demanding compensation of AU$250,000 ($193,000) from ANZ and Westpac banks for closing his accounts immediately after they had been opened, the Australian Financial Review reported on Jan. 18. Flynn, who operates a registered bitcoin (BTC) exchange, has started proceedings against both banks at the ACT Civil and Administrative Tribunal. The trader alleges he is the victim of unlawful…

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Decentralization in the centers of power: Learn crypto from Biden’s SEC chair pick, part 3/3

The next leader of the U.S. securities regulator seems to be sympathetic to the mission of decentralization. This is the third article in a three-part series based on Gary Gensler’s extensive prior public statements on crypto. Here are parts 1 and 2. Cointelegraph has been busily digging through a treasure trove of likely future Chairman of the Securities and Exchange Commission Gary Gensler’s thoughts on crypto, especially from a series of lectures he gave at MIT in the fall of 2018. One especially notable element of Gensler’s thinking is his…

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