Schlagwort: crypto business

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Multi-chain NFT platform WEYU partners with Zilliqa for free NFTs generation

Multi-chain NFT platform WEYU has partnered with Zilliqa to provide users with easy access to NFTs.

Commenting about the partnership, the head of Metaverse and NFTs at Zilliqa, Sandra Helou, said;

“Multichain integration is one way for L1 blockchains like Zilliqa to achieve greater interoperability. More importantly, it enables the value and utility that NFTs offer to extend beyond its native platform. Think about the possibilities that could unleash for creators, who now have a far wider audience to showcase their unique works too. By partnering with WEYU, Zilliqa is helping to bring more users into our ecosystem and the blockchain space in general. Ultimately we’re supporting mass adoption by making NFTs more accessible to individuals and brands through a no-code solution.”

WEYU’s YU Launch tool

By integrating with WEYU, Zilliqa’s ecosystem will become an NFT powerhouse. Zilliqa is designed as a scalable and secure platform for building decentralized applications while WEYU is purpose-built to drive the large-scale adoption of NFTs. Together the two will enable anyone to easily access, create and manage digital assets including NFTs.

WEYU has created an NFT generating tool called YU Launch that is specifically designed for the Zilliqa blockchain. This will subsequently increase the number of NFT creators joining the WEYU platform and the Zilliqa blockchain ecosystem as a whole.

One of the main advantages of this partnership is providing creators and builders to construct digital assets free of cost and within minutes using the YU Launch tool.

Commenting about the partnership, WEYU Co-Founder, Chris Dawe, said

“WEYU believes that Web3 can deliver a new chapter in accessing opportunities never before available on the internet. By building user-friendly applications on top of the greatest technology of our times, blockchain, people across the globe will be able to transact digital items of value and create new economies across the World Wide Web. By partnering with Zilliqa, a mature and attractive alternative to Ethereum and other layer 1’s, WEYU taps into a new and exciting frontier of possibilities. With our first collaboration we bring – YU-Launch – the no-code NFT generation platform but this is just the beginning! The next chapter of this collaboration is sure to attract the masses to the Zilliqa ecosystem.”

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Bitcoin climbs above $23,500 as market recovery continues

The cryptocurrency market has been performing excellently over the past few days, and the rally could continue for a while.

The cryptocurrency market has recorded sustained positive performances over the past few days. The market has added more than 4% to its value in the last 24 hours, with the total market cap now above $1 trillion.

If the market continues with its current trajectory, the total market cap could surge past the $1.1 trillion mark soon. 

Bitcoin has been performing excellently over the last couple of days. In the last seven days, Bitcoin has added more than 20% to its value. BTC is currently trading at $23,500, up by more than 7% in the last 24 hours.

If the bulls could remain in control, Bitcoin and the broader cryptocurrency could record huge gains over the next few days and weeks.

Key levels to watch

The BTC/USD 4-hour chart is positive as Bitcoin has been performing well over the last couple of days. The technical indicators show that Bitcoin is recovering from its recent bear trend.

The MACD line is above the neutral zone and continues to surge higher, indicating bullish momentum. 

The 14-day relative strength index of 68 shows that Bitcoin could enter the overbought region if the positive momentum can be maintained.

At press time, BTC is trading at $23,677 per coin. If the bulls remain in charge, Bitcoin could cross the first major resistance level at $24,756 over the next few hours. 

Bitcoin could move towards the $26k resistance level for the first time in a month if the market embarks on an extended bullish run.

However, the bears can regain control and drag BTC towards the $21,893 support level. In the short term, Bitcoin should comfortably defend its position above the $20k psychological level.

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Near protocol partners with BitGo as it targets institutional investors

Near Protocol is looking to attract institutional investors to its ecosystem thanks to this latest development.

Digital asset company BitGo announced on Tuesday, July 19th, that it will support the NEAR Foundation protocol and its assets with qualified custody services. This latest development will make the NEAR token available to thousands of institutional investors globally. 

Thanks to this latest development, institutional investors holding the NEAR token can enjoy custody services and also stake their assets via the qualified custody wallets on BitGo. 

As part of the agreement, the NEAR Foundation, a Switzerland-based non-profit that oversees sustainable development on the protocol, will also custody its own treasury with BitGo. 

The foundation will also stake part of this treasury using BitGo wallets. While commenting on this latest development, BitGo’s vice president of product Nuri Chang stated that the new partnership would enable developers working on projects such as exchanges and protocols to add support for the NEAR token using BitGo’s programmatic wallets. He said;

“We’re also building BitGo staking support for NEAR in and of itself. What that means is clients can stake NEAR directly from a BitGo wallet with literally a few clicks.”

NEAR Protocol has been around since 2018 and is one of the leading cryptocurrency projects in the industry. 

Marieke Flament, CEO of the NEAR Foundation, commented that the partnership with BitGo indicates NEAR’s commitment to widening its ecosystem. She said;

“This is a significant step for NEAR and its foray into the world of institutional investments.”

Near Protocol has recently focused on cross-chain interoperability. Last year, the team launched Rainbow Bridge, allowing its users to transfer ERC-20 tokens between the Ethereum and NEAR blockchains. 

NEAR currently occupies 25th place in the cryptocurrency market in terms of total market cap. At press time, NEAR is trading at $4.46, up by more than 2% in the last 24 hours.

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SkyBridge Capital suspends funds withdrawal amid liquidation fears

The cryptocurrency and stock market had had a meltdown as the Federal Reserve raises interest rates to combat the rising inflation. As a result, several companies/firms have experienced financial instability with SkyBridge Capital being the most recent victim; something that has forced it to suspend the withdrawals.

The current situation within the financial market has destabilized the operations of many companies, especially those dealing with cryptocurrencies. Some like Voyager and Celsius have already filed for Chapter 11 bankruptcy as they seek to restructure their financial income methods to remain afloat. Others especially capital funds and crypto exchanges like CoinFLEX have resulted in suspending withdrawals.

On their part, SkyBridge has chosen to restrict its customers from withdrawing from one of its funds. The fund is following right in the steps of Celsius which started by suspending withdrawals as it sought to tidy out its financial mess. The main reason for suspending withdrawals is because of the prolonged decline of the cryptocurrency and stock markets.

SkyBridge liquidation fears

SkyBridge Capital is one of Anthony Scaramucci’s funds established in the United States. Anthony Scaramucci once worked as the White House Communication Director in 2017 although his tenure only lasted 10 days before being fired by Donald Trump.

When SkyBridge ventured into crypto, Peter Schiff, a well-known opponent of cryptocurrencies warned that “SkyBridge Capital’s foray into the bitcoin market will occur at its height.” Afterward, major players were allowed to sell their interests to SkyBridge for cash, and Legion Strategies is one of the funds that grabbed the opportunity.

One-fifth of the Legion Strategies fund is however made up of private enterprises and they are challenging to sell. But about a quarter of Legion Strategies’ net assets are already invested in additional funds containing cryptocurrencies and other digital assets that are managed by SkyBridge Capital.

SkyBridge Capital is also said to have taken part in an investment round conducted by FTX, which is one of the leading cryptocurrency exchanges.

But despite all the negative sentiments within the cryptocurrency market, SkyBridge has assured its clients (investors) that there is no need to worry about liquidation since it is unleveled.

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Crypto.com secures regulatory approval to operate in Italy

Crypto.com, one of the world’s largest cryptocurrency exchange platforms, has received regulatory approval to offer its services in Italy.

The platform said in an announcement on Tuesday that it had secured the nod from the Organismo Agenti e Mediatori (OAM).

Regulatory approval is ‘a major step forward’

The approval allows Crypto.com, which has seen aggressive expansion over the past several months, to offer its suite of crypto products and digital wallet services in the country. The milestone means the exchange’s activities will comply with local regulations.

“We are excited to receive this registration in Italy and view it as a major step forward for Crypto.com,” said Kris Marszalek, the exchange’s co-founder and CEO.

Marszalek, commenting on his company’s move to get registered, added:

“We are committed to building lasting growth in the region and will continue working with regulators to deliver a wide range of products and services to our valued customers.”

Crypto.com, founded in 2016 and currently counting over 50 million users globally, has added the Italian registration to the one recently received from Greek authorities.

The platform also has an in-principle approval from the Monetary Authority of Singapore, and a provisional Virtual Asset License from Dubai’s Virtual Assets Regulatory Authority (VARA).

The regulatory greenlight sees Crypto.com join other top cryptocurrency firms Binance and Coinbase in seeking registration and getting approval in Italy.

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