Monat: Januar 2024

Veröffentlicht am

Novogratz foresees Bitcoin ETF Battle: does fractional vacation home ownership offer an alternative?

The recent regulatory green light for 11 Bitcoin spot exchange-traded funds (ETFs) has triggered fierce competition among asset management giants. Mike Novogratz, CEO of Galaxy Digital, anticipates a showdown between Invesco, Fidelity, and BlackRock, whose IBIT traded $7.5M shares in the first 10 minutes of the launch

Amidst this crypto turbulence, Everlodge, a disruptor in fractional vacation home ownership, is making waves with its ongoing ELDG token presale.

Bitcoin ETF war unleashed

The approval of 11 Bitcoin spot ETFs has set the stage for a high-stakes battle among industry behemoths. According to Mike Novogratz, a prominent figure in the crypto sphere, the ETF landscape is becoming a hotbed of competition. In a recent CNBC interview, Novogratz highlighted that success in this emerging market depends on execution, liquidity, and hidden fees, rather than just focusing on expense ratios.

Novogratz’s insights stem from his experience, as Galaxy Digital, his firm, has partnered with Invesco to launch its cryptocurrency ETF. He predicts a fierce struggle for dominance, emphasizing that the ETF market is not one-size-fits-all. The recent regulatory approvals have ignited a race for customers, with Invesco, BlackRock, and Fidelity emerging as key contenders in the crypto showdown.

Everlodge: unlocking vacation home ownership

In a parallel narrative, Everlodge is disrupting the vacation home industry with its ongoing ELDG token presale. This innovative platform allows users to invest fractionally in hotels, luxury villas, and vacation homes on the blockchain. Everlodge’s approach to fractional investing eliminates the complexities associated with traditional real estate investment, providing a seamless experience for users.

The ELDG token, designed as a genuine utility token, incentivizes and benefits the Everlodge community and investors. Early adopters stand to gain from features such as passive income through staking, exclusive monthly rewards, and eligibility for the Everlodge private members club. Token holders can also leverage their ELDG tokens for discounts on trading fees and purchases within the Everlodge ecosystem.

Is Everlodge a good investment?

The question on many minds is whether Everlodge and its ELDG token represent a sound investment opportunity. Everlodge’s unique approach to democratizing vacation home ownership, coupled with the integration of blockchain technology, positions it as a disruptor in the industry. The ongoing ELDG token presale provides early investors with a chance to participate in this groundbreaking venture.

Investors looking for an alternative asset class may find Everlodge appealing. The platform’s emphasis on providing passive income, discounts, and exclusive rewards adds an attractive layer to the investment proposition.

However, as with any investment, potential participants should conduct thorough research, considering factors like market trends, Everlodge’s roadmap, and broader economic conditions.

Conclusion

The cryptocurrency landscape is witnessing macro-level battles among industry giants like Invesco, BlackRock, and Fidelity, and micro-level disruptions through innovative platforms like Everlodge. The regulatory approval of Bitcoin spot ETFs has not only intensified competition but also highlighted the evolving nature of the crypto market.

As investors navigate this dynamic environment, Everlodge is a testament to the ongoing transformation in how people invest and engage with emerging technologies in the digital age.

The post Novogratz foresees Bitcoin ETF Battle: does fractional vacation home ownership offer an alternative? appeared first on CoinJournal.

Veröffentlicht am

Hedera and Algorand forge an alliance for crypto recovery

  • Hedera and Algorand jointly launch Decentralized Recovery (DeRec) protocol for robust digital asset security.
  • DeRec protocol uses trusted entities, secret sharing, and automatic confirmations for enhanced recovery.
  • The Hedera and Algorand alliance aligns with industry needs for improved safety standards.

In a groundbreaking collaboration, blockchain ecosystems Hedera and Algorand, including the HBAR Foundation and Algorand Foundation, have united forces to address the challenges of decentralized wallet recovery.

The newly formed Alliance, consisting of key figures from both ecosystems, introduces an innovative Decentralized Recovery (DeRec) protocol. This protocol sets out to enhance digital asset security and recovery, offering a robust solution to a critical need in the blockchain industry.

The DeRec Alliance

The DeRec Alliance was unveiled at the Crypto Finance Conference in St. Moritz by Dr. Leemon Baird, the co-founder of Hedera, and John Woods, the CTO of the Algorand Foundation.

The centrepiece of the DeRec Alliance is the Decentralized Recovery (DeRec) protocol, a pioneering approach to managing digital secrets. This open-source protocol is grounded in the concept of secret sharing among trusted entities, such as friends or businesses. Users can recover their secrets with the assistance of these trusted entities, ensuring security without any single party having complete access to the information.

The DeRec protocol includes automatic confirmations to guarantee that helpers retain shares of secrets. Moreover, it facilitates automatic resharing in response to changes in secrets or modifications in the helper group. Crucially, the identities or the number of helpers involved in the process remain confidential, adding an extra layer of security and privacy.

Addressing DeFi security challenges

This strategic initiative by Hedera and Algorand addresses ongoing security challenges in the decentralized finance (DeFi) space. The DeRec Alliance’s efforts align with the broader industry’s need for improved security measures, echoing recent recommendations from regulatory bodies like the United States Commodity Futures Trading Commission.

Dr. Leemon Baird emphasizes the importance of collaboration across the industry to establish unified standards and open-source code, aiming to bolster safety within the Web3 environment.

With banks, credit unions, and various wallet software projects already participating, the DeRec Alliance indicates a growing interest in developing a more secure and user-friendly framework for digital asset management. This collaborative effort marks a significant leap forward in establishing a standardized, decentralized recovery protocol, potentially setting a new industry standard for wallet safety and trust in digital asset technologies.

By forming the DeRec Alliance and introducing the innovative DeRec protocol, Hedera and Algorand are laying the foundation for a more secure and user-friendly DeFi ecosystem.

The post Hedera and Algorand forge an alliance for crypto recovery appeared first on CoinJournal.

Veröffentlicht am

BTC surges as BlackRock’s IBIT trades $7.5M shares in first 10 minutes

  • Bitcoin (BTC) price surged to above $48,000 again on Thursday as spot Bitcoin ETFs made their market debut following SEC’s approval on January 10, 2024.
  • BlackRock’s Bitcoin ETF ($IBIT) traded $7.5M shares within the first 10 minutes as spot ETFs roared into the ecosystem.

Bitcoin’s price shot past the $48,000 level on Thursday as the market opened to welcome the first trading day of spot Bitcoin ETFs in the US.

The benchmark cryptocurrency’s price was up 8.8% to $48,875 at the time of writing, with a market capitalization of about $950 million. The price surge coincided with a stellar start to Bitcoin ETFs trading as BlackRock’s IBIT recorded an impressive $7.5 million traded shares within the first 10 minutes of going live.

BlackRock’s $IBIT on fire

With 20 minutes in, Bloomberg ETF analyst Eric Balchunas pointed out that volume was “big” and was set to outpace the record the ProShares Bitcoin Strategy ETF (BITO) set when it went live in October 2021. BlackRock’s IBIT, with over $292 million in shares at the time, was on track to surpass $1 billion, the analyst noted.

Other Bitcoin ETFs, including Grayscale’s GBTC, Ark Invest’s ARKB and Fidelity’s FBTC, were also heating up as trading showed demand could pick up as momentum builds. Balchunas added that “almost all the volume in first few days will convert to inflows.”

“While focus has been on bitcoin, a big takeaway is that ETFs continue to show they can handle just about anything,” the ETF guru noted in an earlier post on X. He explained this with a comparison chart showing the trading profile of spot Bitcoin ETFs in Europe.

“Spreads and prem/disc have tightened,” he wrote, adding that he expected the same outlook in the US over time.

As the ETFs markets heats up on the debut day, the uptick in BTC price has market observers pointing to a potential continuation. With the sell the news idea floated before the approval likely not happening, Bitcoin could retest the $50k level before accumulating at support levels for a new leg.

The upcoming BTC halving is another huge catalyst waiting in the wings, which analysts say could combine with overall bullish sentiment to catapult prices beyond $100k in 2024.

The post BTC surges as BlackRock’s IBIT trades $7.5M shares in first 10 minutes appeared first on CoinJournal.

Veröffentlicht am

ATH Vodka unveils Tidepay-powered crypto rewards App for exclusive experiences

  • ATH Vodka launches ATH Rewards app with Tidepay, leveraging web3 for exclusive lifestyle rewards.
  • ATH token serves as primary incentivization, offering discounts, event access, and more.
  • Commitment to web3 optimization includes 10% revenue allocation for ATH token buyback and burn.

Global spirits brand ATH Vodka is revolutionizing customer engagement with the launch of the ATH Rewards app, powered by Tidepay. This innovative loyalty program leverages web3 technology and the ATH token to offer users a range of exclusive lifestyle rewards.

Beyond its renowned premium vodka, ATH is breaking new ground in incentivization, bringing a fresh perspective to the intersection of luxury spirits and cutting-edge blockchain solutions.

Unlocking exclusive rewards with ATH Rewards App

ATH Vodka’s ATH Rewards app is set to redefine brand loyalty, utilizing the ATH token as the primary mechanism for incentivization. Users can accumulate ATH tokens through various activities, notably by purchasing ATH Vodka products.

From discounts on ATH Vodka offerings to access to live events, music festivals like Strawberries and Cream, supercar trips with Cannon Run, weekends away, and even yacht hire – the ATH Rewards app transforms every bottle of ATH into a gateway for exclusive rewards. This decentralized approach, powered by blockchain, ensures a seamless and transparent rewards system for ATH Vodka customers.

Web3 optimization and social responsibility

In a strategic move, ATH Vodka pledges to allocate 10% of its revenue towards buying back and burning ATH tokens. This initiative not only increases demand for the token but also demonstrates a commitment to optimizing the brand’s web3 strategy. Simultaneously, a portion of ATH Vodka’s profits will be directed towards charitable causes, aligning the brand with social responsibility while harnessing the potential of blockchain technology.

The ATH Rewards app is a testament to how traditional brands can seamlessly integrate with emerging technologies to deliver unparalleled value to their customers. By utilizing Tidepay’s B2C engagement solution and the power of the ATH token, ATH Vodka is at the forefront of an industry-wide transformation, setting a precedent for other global brands looking to explore the limitless possibilities of web3.

This synergy between a luxury spirits brand and cutting-edge blockchain technology not only enhances customer loyalty but also exemplifies the potential for diverse industries to embrace and benefit from the decentralized revolution. The ATH Rewards app stands as a testament to innovation and commitment to creating memorable experiences for ATH Vodka enthusiasts, firmly establishing the brand in the ever-evolving landscape of digital incentives and exclusive rewards.

The post ATH Vodka unveils Tidepay-powered crypto rewards App for exclusive experiences appeared first on CoinJournal.

Veröffentlicht am

South Korea won’t allow crypto ETFs despite US approval, official says

  • South Korea’s Financial Services Commission (FSC) will not allow crypto ETFs despite SEC’s approval of spot Bitcoin ETFs.
  • An FSC official says the ban on financial instutitions with regard to cryptocurrencies remains.

Despite the eventual approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC), it does not change South Korea’s regulatory approach on these products.

An official of South Korea’s Financial Services Commission (FSC) told a local news outlet on January 11, a day after the SEC’s spot Bitcoin ETF approval, that financial institutions are banned from investing in cryptocurrencies.

TAccording oto the FSC official, there are no policy changes regarding virtual currencies and that the US move isn’t new. Spot ETFs have been allowed in Hong Kong, Germany, Canada and other jurisdictions. But that does mean South Korea will follow suit.

Also, as it stands, the law does not allow financial institutions to launch ETFs or participate in the buying, selling or trading of crypto in the country. The South Korean government continues to stand firm as it looks to “stabilize the financial market and protect investors,” the official said. 

Notably, financial institutions have been banned from holding and investing in cryptocurrencies since December 2017.

Will SEC allow ETH, XRP ETFs?

The FSC official’s remarks come as the crypto market shifts focus from the spot Bitcoin ETFs to Ethereum spot ETFs.

Multiple issuers have already applied to list a spot ETF based on the world’s second-largest cryptocurrency by market cap. There is also speculation on what SEC’s approval means for XRP, which was declared not a security by a US court in July 2023.

Market reaction has seen prices of Ethereum spike to above $2,600, buoying altcoins as Bitcoin hovered near $46,000. XRP price has crossed above $0.60, while Ethereum Classic is one of the biggest gainers in the past 24 hours after its price jumped more than 35% to trade near $30 on Thursday.

The post South Korea won’t allow crypto ETFs despite US approval, official says appeared first on CoinJournal.