AnRKey X Set To Launch The First Ever Refundable SHO

AnRKey X is a decentralized finance gaming platform that merges the world of decentralized finance with e-Sports and NFTs. The team behind the project has worked hard for the past few months to come up with a new revolutionary but simple product aimed at rewarding ‘addicted degens’ and competitive e-Sports gamers.

Our gDEX protocol brings the groundbreaking potential to enable full-scale real gaming industry interactive games based around DeFi liquidity mining systems, incorporating in-game and collectible NFT marketplaces — all with virtual eSports DNA at every level.

The initial token sale will be launched through the DAO Maker platform, specialized in sales and strategic consulting as well as community incubation.

The initial project valuation will be $3,493,750 with a total token supply of 200,000,000 ANRX from which 2.5% will be used in the SHO. The main goal behind a refundable SHO is that whitelisted participants can receive up to 80% of their funds in return if the project fails in the first 6 months.

The SHO started on December 7 and will end on December 13 with a price of $0.025 per token and no lock-up, but a personal cap of $500 per participant.

Youtube Endorsing Cardano (ADA) Fake Giveaways Amid 85% Price Surge

Cardano is currently the sixth-largest cryptocurrency in terms of market capitalization. Ryan Selkis, CEO and co-founder of Messari, believes that investors could stake a variety of cryptos.

Traders who are “wondering if they’re late to the party,” could earn enormous reward payout from ADA lower staking rates, as mentioned in Seliks newsletter.

The Messari co-founder believes that the upcoming Shelley hardfork plays a significant role in the growth of Cardano on July 8.

The potential discrepancy between staked and un-staked ADA however, could bode well for bulls even after Shelley goes live. While the initial staking percentage won’t be known until after launch, Cardano’s incentivized testnet saw participation from ~40% of the reported supply. If this carries over to mainnet, Cardano’s staking rates will be significantly lower than other large-cap networks like Tezos (80%) and Cosmos (71%).

Youtube Scams Promoting a Fake ADA Giveaway

Various fake ADA giveaways are surfacing Youtube. Cardano’s team has warned people about the scams, however, Youtube has not yet taken down all the videos.

It has come to my attention that a scam has been floating around using my conference keynote to promote a giveaway this is a scam. Please report it to YouTube. We will take legal action if we can against those responsible

Cardano expects to launch Shelley by the end of July.

Xiao Gang Emphasizes The Need for a Reform To Accelerate Blockchain Development

China, the emerging global powerhouse, is extensively utilizing blockchain technology in many industries. China is pushing up the development of the blockchain ecosystem and digital currencies to a great extent recently.

Xiao Gang, the China Securities Regulatory Commission former member, stated that lawmakers and government bodies need to reform rules and regulations as the country’s economy is stepping into the era of digitalization.

While attending the online conference, the 19th Pushan Lectures of China Finance 40 Forum, on July 17, Xiao said there is an instant requirement to cover digital reform:

The development of the digital capital market faces the problem of organizational change. The most typical, such as the cryptocurrency exchange, is bound to happen in the future. How to deal with such organizational change is also a problem that we may encounter.

Xiao stated that several areas require further research, including the development of trusts, the improvement of paths, and data exposure.

Xiao said:

We must adhere to the principles of openness, inclusiveness, sharing and fairness in the development of the digital capital market […] we should actively embrace new technologies, prudently innovate business models […] promote data connectivity and create a fair market environment.

Several firms in China have been employing blockchain technology to streamline digitization efforts. As reported earlier, The Public Bank of China had conducted the digital currency pilot in major cities of China, including Chengdu, Xiongan, Shenzhen, and Suzhou. However, Chinese officials haven’t given any launched date for the digital Yuan. 

Grayscale Sees Massive 50% Drop In Its Ethereum Trust Shares

Grayscale, the US-based digital asset management fund, has been steadily growing in 2020. Grayscale has been buying massive amounts of Bitcoin and Ethereum. 

According to official reports, Grayscale has acquired more than $100 million worth of Ethereum coins.

Ethereum Investment Trust Plummeted 50%

Grayscale shares in ETHE, which invests in the second-largest cryptocurrency, has dropped around 50% in value this week on over-the-counter markets.

Grayscale Ethereum shares dropped from a high of $204 to $80 but bounced back up above $100. Furthermore,  premiums suffered a noticeable drop. Within a few weeks, shares fell to 360% from 750%.

Many ETHE shares that were only available on Grayscale’s primary market became unlocked after the incident. The termination of this session made more offers being accessible to OTC markets.

It’s important to remember that ETHE crash doesn’t directly affect the price of Ethereum as it continues on its bullish path.

DeFi Bubble: Newly Launched Balancer Token follows COMP Token’s Explosive Price Action

DeFi tokens have presented great potential so far in 2020, greatly outperforming leading cryptocurrencies like Bitcoin. Enthusiasm for DeFi tokens has given a significant lift by the introduction of Compound token, which surged almost 500% a week ago.

Recently. Balancer Labs has distributed its Balancer token (BAL) on the Ethereum mainnet. Balancer’s decentralized finance token followed excitement generated by the distribution of COMP token, and made tremendous gains. After the launch, Uniswap and Balancer opened up for BAL token for trading. 

In just a day of trading, BAL price bounced from $7 to $22. Currently, BAL is trading at $20.

DeFi Tokens Reach New Heights 

CoinMarketCap analysis shows that Ren (REN), Synthetix (SNX), and Aave (LEND) had also marked substantial growth. 

Aave token price has surged roughly 3,900%. After trading close to $0.01 for a year, LEND price initially rallied to $0.05 in May, then jumped to $0.16 on June 21. 

However, the newly launched Balancer has quickly become one of the most expensive networks in the space. BAL token value has grown over 220% since its deployment on the Ethereum mainnet.

DeFiMarketCap recently listed Balancer and Compound on its website. After recent value growth following their token distributions, both DeFi tokens have spotted the top positions. 

According to DeFiMarketCap analysis, DeFi tokens had recently crossed the $2 billion target just a couple of weeks ago, but the recent Defi token growth had pushed the total DeFi market cap above $7 billion.

Bitcoin Breaches $9,700 Due To PayPal Offering Crypto Rumors

PayPal, the most popular online payment service in the world is reported to be working on the integration of crypto to the platform. The platform was already working with major cryptocurrency firms like Coinbase since 2014.

According to Ian Allison report, PayPal and Venmo are shaping the plans to propose crypto service to users. However, market sources haven’t disclosed which cryptos will be supported. It seems the firm “would be working with multiple exchanges to source liquidity.” 

An industry source told CoinDesk:

My understanding is that they are going to allow buys and sells of crypto directly from PayPal and Venmo. They are going to have some sort of a built-in wallet functionality so you can store it there.

Speculations About PayPal Integrating Crypto Prompted A Quick Market Recovery

PayPal has not published an official statement on the rumors yet but according to Coindesk, the news are confirmed by three different sources.

After trading sideways for the past week, Bitcoin had a 4% price surge on June 22 right after the rumors, blasting through all the previous daily resistances and eying up $10,000 yet again.

Will Bitcoin finally crack $10,000 or will it get rejected once more?

Ethereum Ready To Hit $250 and a 2020-high In Anticipation to ETH 2.0

Ethereum, the second-largest crypto in terms of market cap, is exhibiting a positive sign as more than 80% of its supply moved in profit on June 10.

As per Glassnode recent market analysis chart, back to back for the 3rd time in 2020, Ethereum supply has jumped over 80%, “Last time the Ethereum’s supply in profit was significantly above 80%, ETH was priced at around $700,” as mentioned in the report.

Furthermore, the crypto analytics firm Glassnode chart shows that Ethereum has entered a positive zone. Similar zone from where ETH had started its bullish phase last time. On prior events when ETH reached the 100% mark, it was supplanted by an abrupt change.

However, data demonstrated that the firm solely recounted Externally Owned Accounts for this analysis.

Bullish Phase Short-Lived for Ethereum

In May, ETH rallied between $250–$252 could be the initial signs for the bullish phase. However, this surge has also fueled the transactional gas to reach a new height. The network’s overall gas has surged from $0.08 to $0.41.

Although Ethereum presented positive signs, somehow its bullish phase was short-lived. Currently, ETH is trading at $235. The crypto analyst believes that Bitcoin’s recent volatility played a significant roll in the price fall of ETH.

Bloomberg Report: Tether (USDT) Will Surpass Ethereum In Terms of Market Capitalization

Tether is getting closer and closer to beat Ethereum and surpass it in terms of market capitalization. According to a recent Bloomberg report, USDT coins are getting issued at an exponential rate.

USDT has already surpassed XRP and it’s currently the third-largest asset in the market with a cap of $8.7 billion. Furthermore, the crypto expert that created the report also believes that due to abrupt growth in stablecoins, investors’ interest in digital currencies has surged.

We see little upside in the ETH price absent a rising tide from Bitcoin. The pre-eminent crypto is breaking away from the pack in terms of adoption and is supported by almost-ideal macroeconomic conditions for stores-of-value amid quantitative easing

Tether Is Dominating Stablecoins

The report clarifies that dollar-pegged digital assets are rising as the US dollar is also rising against other fiat currencies.

USDT is now essential for the crypto market even though there are plenty of other stablecoins available, most people use USDT which now has a ton of liquidity across all exchanges.

In fact, Tether transactions have surged from $17.4 billion daily to over $55 billion.

BREAKING: Canada Recognizes Crypto Firms as Money Service Businesses

According to a new institutional law, the crypto firms based in Canada will be officially acknowledged as Money Service Businesses (MSB).

Francis Pouliot, the CEO of BullBitcoin, has been working very to legitimize cryptocurrencies and cryptocurrency businesses in Canada.

On May 29, Francis Pouliot tweeted: 

Today is my last day as an unregulated dealer in virtual currency. As of June 1, 2020, Bitcoin exchanges and payment processors are officially regulated as Money Services Businesses in Canada.

Pouliot announced that the new law is a result of over half a decade of his efforts. “I’ve been closely involved with the process, starting in 2014, collaborating particularly with the Ministry of Finance and FINTRAC. Our stance never changed: Bitcoin is money, it should be regulated like other money, no more no less,” he added.

Crypto Firms Will Need to Register With FINTRAC

According to the new law, Crypto firms will need to register with the FINTRACT and notify them of all transactions that surpass more than $7,000.

Pouliot highlights that the new rules and regulations will mainly support crypto activities related to cash like Bitcoin ATM operators, adding that “most Bitcoin businesses already had KYC measures in place […] because they were required to do so by their banking or payment processing partners.”

Ripple Breaks Into Brazilian Remittance Market, Ahead of $10B IPO

Ripple is looking to explore new opportunities in Latin America by offering new services. Last year, the firm had introduced its Sao Paulo office with the intention to expand on Latin America specifically,  Brazil.

In December 2019, the general director of the firm, Luiz Antonio Sacco, stated that Ripple was aimed to set up a new collaboration with institutional firms and banking sectors throughout 2020.

Ripple’s primary focus is the remittance market. The firm is planning to offer new services for Latin American users that could facilitate them in cross border transactions by utilizing XRP. Currently, Brazil remittance streams are estimated at more than $2.5 million.

Ripple Secured New Partnership to Expand its Platform

According to recent information disclosed by the financial institution’s website, Brad Garlinghouse along with other firm’s officials had a closed-door video conference with the Central bank of Brazil to bring “institutional matters” under to light.

The United States Consumer Financial Protection Bureau has also acknowledged Ripple and XRP performance in cross-border transfers. 

However, Ripple (XRP) seems to be losing its ground as adoption amid retail investors is fading away. As reported earlier, USDT has now surpassed XRP and it’s ranked 3rd by market capitalization. XRP has dropped from almost $130 billion to somewhere under $9 billion mcap.