Schlagwort: blockchain markets

Pacific Medical Health Group led by Dr. Michael Omidi, a primary physician, has announced that it will start accepting Bitcoin payments. 

Early in May, the Pacific Medical Health Group had stated that it will start accepting crypto payments for its products.

Pacific Medical’s move to accept Bitcoin and other cryptocurrency payment methods comes at a time when a majority of organizations are trying to introduce the same. 

Actually, important to note that the original plan of developing these cryptos was to serve as payment tools, where they were created to push fiat currencies, credit cards, and checks to the other side. However, because of the volatility of crypto prices, it has been a challenging and relatively slow journey to achieve that.

Crypto volatility impact on payments

Since it’s hard to predict when Bitcoin and the entire crypto market will experience gains or losses, many companies and stores have been hesitant to accept the crypto payment methods.

For example, if a person buys a product worth $100 with Bitcoin and then the store or the company fails to trade the BTC into fiat immediately and in a few hours the price of BTC drops to $80, the store will incur a loss.

Cryptocurrencies are the next phase of technology

During an interview, Dr. Omidi said that the crypto markets are gaining traction daily and he is seeking to educate people on how they can utilize digital currencies as well as using them as a mode of payment.

He noted:

‘’We wish to accommodate patients that wish to use cryptocurrency on items besides investments or stocks, which is becoming standard to many businesses in the future… Cryptocurrency and blockchain backbone is the next phase of technology and will be a huge part of how businesses will be utilizing in the future.’’

However, their decision comes when companies like continental Diamond, a prominent American jewelry company, announced that will allow their customers to pay using Bitcoin and other related altcoins to pay for the jewelry.

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UniSwap Labs the main developer behind the leading decentralized protocol UniSwap has acquired the NFT marketplace aggregator Genie. The move will further incorporate NFT functionality into UniSwap Labs’ product range.

In an announcement made by UniSwap on Tuesday, the developers said the move will unlock universal ownership and exchange NFTs on the DeFi protocol.

1/ The Uniswap Universe is expanding 🦄

In pursuit of our mission to unlock universal ownership and exchange, we’re excited to share that we’ve acquired @geniexyz — the first NFT marketplace aggregator — expanding our products to include both ERC-20s and NFTs 🧞‍♂️ pic.twitter.com/vESlbE3kvy

— Uniswap Labs 🦄 (@Uniswap) June 21, 2022

The acquisition of Genie will enable UniSwap to incorporate NFT marketplaces into the UniSwap web app and also integrate NFTs into its widgets and APIs. This will make UniSwap a “’comprehensive platform for users and builders in Web3.”

Buying and selling NFTs on UniSwap

According to a tweet on a tweet thread by UniSwap, the protocol said that people will be able to buy and sell NFTs directly on the UniSwap web app starting this fall.

The tweet reads:

“Starting this fall, you’ll be able to buy and sell NFTs directly on the Uniswap web app. And we’ll integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3.”

This is not the first UniSwap is being involved with NFTs. In 2019, it launched Unisocks, which offers NFT liquidity pools backed by real-world assets. Therefore, the Genie acquisition will go a long way in bolstering the protocol’s NFT agenda.

USDC Airdrop

In line with the Genie acquisition, UniSwap said that it plans a USDC airdrop to historical Genie users claimable for up to twelve months.

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Tether has remained upbeat in its bit quest to expand its market presence amid the crypto market turmoil. Days after launching the offshore Chinese Yuan pegged stablecoin, Tether is set to launch a new stablecoin pegged on the British Sterling Pound.

The new stablecoin duped GBPT is set to be launched early next month.

The GBPT will initially be available only on the Ethereum blockchain.

The growing list of Tether’s stablecoins

The GBPT will be the fifth stablecoin that Tether is launching.

The first was the US dollar-pegged USDT stablecoin, which has become the largest stablecoin by market cap. The next was the euro-pegged EURT stablecoin. Then there is the Mexican Peso-pegged MXNT stablecoin, and the latest launched Chinese Yuan-pegged CNHT stablecoin.

Making UK a crypto hub

In April this year, the UK finance minister Rishi Sunak unveiled a plan to make the country a crypto hub and with the recent moves, Tether believes it will play a great role in helping the country achieve its ambitions.

Additionally, the GBPT comes at a time when the UK government is seeking to have stablecoins recognized as a valid mode of payment an initiative that Tether believes will make the UK a key destination for crypto innovation.

Speaking of the new stablecoin, the CTO of Tether Paolo Ardoino said:

“We believe that the United Kingdom is the next frontier for blockchain innovation and the wider implementation of cryptocurrency for financial markets. We hope to help lead this innovation by providing cryptocurrency users worldwide with access to a GBP-denominated stablecoin issued by the largest stablecoin issuer.”

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The crypto market is bullish today, with all top 100 cryptos in the green at the time of writing.  

Top cryptos

Solana stood out, gaining more than 15%, followed by Cardano, Ethereum, and BNB, all gaining more than 7% over the past 24 hours. Bitcoin was trading above $21,000 at the time of writing, up more than 4% over the past 24 hours. 

Cryptos outside the top 10 also fared well. Polkadot jumped more than 7%, but the standout is Polygon with 14%.  

Top movers

Outside the top 20, the tendency was similar, with most coins adding 5-9% to their value. Notable standouts include Chainlink, up 12%, Aave with 14%, and Waves with 18%.

Elrond gained another 15% today. It has been rallying since announcing a major partnership with an institution of the Romanian government. 

Stacks is up 16% and 1inch Network gained 17%. Atomic swaps on 1inch and CurveFinance registered an average of 100 million in daily volume recently. 

Zilliqa is one of the biggest winners, up 22% in the last 24 h. This is likely due to its affiliation with XCAD, which launched the first single-asset staking farm with a static APR on Zilliqa in January this year. 

XCAD Network is an NFT and fan token platform for YouTubers. It allows Youtubers to issue their own fan tokens. Zilliqa’s rally is supported by XCAD’s participation in a very successful, recent live event in NYC. 

The big winner is Celsius with gains of 49%. Although Celsius Network is struggling, efforts to stabilize the system are apparently effective or are at least (evidently) having a bearing on the coin’s value.  

Compound rounds out the winners’ list at #100 with gains of 26%. The Compound III alpha version app is now available for the community to explore.  

Trending

The biggest winner today is PetSneakers, a virtual world where you can train pets and work out yourself. The platform records workout results and converts them to PSC tokens, which you can stake to get more profit. PSC is up 363% today. 

The post Highlights June 21: Celsius up almost 50%, rest of cryptos also in the green appeared first on CoinJournal.

Realized loss for Bitcoin investors hit a historic $7.3 billion over just three days last week, according to data from analytics firm Glassnode.

Per the firm’s data, investors reeling from sustained sell-off pressure exited positions they had taken at much higher prices, leading to the huge realized loss. In terms of definition, Glassnode looks at realized loss based on when a coin moves and what price it moves – basically it tells the difference in last price versus current price.

The last three consecutive days have been the largest USD denominated Realized Loss in #Bitcoin history.

Over $7.325B in $BTC losses have been locked in by investors spending coins that were accumulated at higher prices.

A thread exploring this in more detail 🧵
1/9 pic.twitter.com/O7DjSK2rEQ

— glassnode (@glassnode) June 19, 2022

Long-term holders selling

As Bitcoin price crashed, investors quickly sold off roughly 555,000 BTC in the $23,000-$18,000 price range.

Notably, this included 178,000 BTC held by Long Term Holders, with some of the coins sold acquired at $69,000 – the price that marked Bitcoin’s all-time high in November 2021. The group of sellers took a -75% hit to their investment.

On average, LTH sold 1.31% of their total holdings, with aggregate long term investor balances shrinking to levels last registered in September last year.

“If we assess the damage, we can see that almost all wallet cohorts, from Shrimp to Whales, now hold massive unrealized losses, worse than March 2020. The least profitable wallet cohort holds 1-100 $BTC, and have unrealized losses equal to 30% of the Market Cap,” Glassnode wrote.

Bitcoin was trading around $20,190 on Monday evening, with intraday lows of $19,700 and intraday highs of $20,900 making the $21,000-$23,000 level a potentially new resistance zone.

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