ValteFri, Oct 1, 2021 7:21 AM
Weekly Digest: Cardano's First Stablecoin & Coingecko NFT Conference
Every week we make a digest about the most significant news in crypto with bloggers and crypto community members, but this week we decided to find out what companies’ representatives and media think about all things crypto.
Please enjoy and don’t forget to add your favourites to your CoinJoy Feed!
After the significant downfall from $350 in May Zcash now is following a weird price pattern, being in the uptrend at the first part of the year and then was moving with quite an average speed for the next 50 days. In the last few months though, the crypto lost in trading volume and accumulation. In the second half of May, there was a big downtrend spike and after that, the price struggled to create an uptrend moment. And if it will follow the same tendency Zcash investors need to be careful with their holding and new investments. Cryptonewsz suggests investors take a profit as soon as the volatility increases again.
“During times of uncertainty in cryptocurrencies, investors can trade smartly by allocating a small percentage of their portfolio depending on their risk appetite.” — Cryptonewsz
KuKoin global leading cryptocurrency exchange aiming to lower the threshold for anyone to enter cryptocurrency is launching Crypto Friday — Black Friday for the crypto holders with a prize pool of 1,000,000 that will happen from September 29 till October 10. The goal of this event is to further promote and popularize the cryptocurrency in an exciting and favorable way, so it offers to buy preferred cryptos for competitive prices. Users get access to allowances, special discounts, sales, and presales by taking part in some activities. The total pool prize is 1 million Tether (USDT) for both trading and non-trading activities so it covers the investors with the different profiles.
“With the inevitable trend towards the exponential growth of the crypto industry, we believe that social interaction is the key to empower the industry development.” — Johnny Lyu, CEO of KuCoin
Swiss regulatory body Financial Market Supervisory Authority (FINMA) approved the country’s first-ever crypto-dedicated fund — Crypto Market Index Fund. It is available only for qualified investors in the category of alternative investors. According to the FINMA representative, the fund will be regulated according to the existing provisions law, though it will be applied in a technology-neutral way to provide the possibilities to innovations. To decrease the risks, the new fund will mainly invest in assets with a high trading volume.
The world’s largest independent crypto data aggregator CoinGecko announced its first-ever virtual conference ‘GeckoCon – NFTs Gone Wild’ that will be held on 17-18 November. It will include presentations, fireside chats, and workshops with a lot of NFT’s from art, music, gaming, sport, and other industries. There also will be Virtual After Parties, competitions, and powwows in the Metaverse, so every participant will get the chance to win $50,000 worth of prizes. Over 150 key leaders in NFT space will take part in the conference, including Alexander Larsen, co-founder of Axie Infinity, Patricio Worthalter, founder of POAP, Alexei Falin, co-founder of Rarible.
Chinese retailer giant Alibaba will prohibit sales of crypto miners and suspend categories for blockchain miners and any related accessories from the platform on October, 8. Moreover, Alibaba will ban any user from selling crypto assets through their website. The restrictions also include tutorials, guides, and strategies related to mining and cryptocurrency. From October 15th whoever doesn’t follow the rules will be obliged to pay the penalty. The policy change happens as a response to compliance issues in listing products and performing transactions when the Chinese government applied a set of new measures making all the crypto transactions illegal in the country.
“We will keep track of policy changes in each country and adjust our control policies accordingly,” — Alibaba
COTI, a software development company is issuing its first stablecoin on Cardano (ADA) blockchain, called Djed. It will promote the ecosystem which became even more important since the blockchain has started supporting smart contracts. The value of the asset will be kept stable by an algorithm that leverages smart contracts on Cardano to keep the price as close to $1 as possible. There also will be other versions of Djed — a minimal one designed to be a medium of exchange and an extended one for maintaining continuous price structure and fees to react faster.
“I believe that adding the Djed stablecoin to the Cardano blockchain will significantly improve how transactions are settled on the platform.” — Shahaf Bar-Geffen, The Chief Executive of COTI Group
The Spanish Amusement and leisure park, PortAventura World will become the first in the field to accept Bitcoin payments from the next season starting in early 2022 and will make crypto settlements possible at resort hotels. The customers will have an extra payment option and the new software is being developed to provide it.
“The push for initiatives such as this one allows us to become aligned with the latest trends and satisfy the needs of our guests” — David García Blancas, CEO of PortAventura World
The record transaction fee of 22.5 ETH worth almost $70, 000 was paid by the user who tried to purchase Time Magazine NFT “TIMEPieces” that consists of previously created cover pages of the magazine. From September 23 the collectors could get random NFTs out of 4676 items each one of which price 0.1 ETH.