Aavegotchis sell out in under one minute as NFT euphoria continues

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IOTA and Horizen Partner to Maximize IOTA Oracles Adoption by New Blockchains

IOTA and Horizen Partner to Maximize IOTA Oracles Adoption by New Blockchains

Horizen, a technology platform that enables businesses and developers to create their public or private blockchains, announced a partnership with IOTA. The partnership will see the newly launched IOTA Oracles’ functionality and introduce oracle capabilities to the Horizen sidechain and scaling protocol, Zendoo. 

IOTA Partnership Plans

IOTA is a cryptocurrency built to operate as the anchor of the Internet of Things economy. It is specially designed to offer a solution to this problem by creating a fee-free cryptocurrency that can run on the most humble devices.

IOTA Oracles were built to bring off-chain data to decentralized applications and smart contracts on the IOTA network. They securely bridge both the digital world and the physical world in a feeless and decentralized way. 

The partnership’s initial goal was to introduce IOTA Oracles functionality into Zendoo, Horizen’s fully decentralized and customizable sidechain protocol. In detail, the integration takes place in two stages: First, Zendoo will add the power of IOTA Oracles to its POC side chain. Second, the IOTA oracle submission is integrated directly into the Zendoo SDK

Horizen’s Zendoo makes the IOTA oracle available to any blockchain or Horizen-based decentralized program. It allows businesses and developers to spin-up their customizable blockchain.

With the successful changes to Chrysalis, an intermediate step before Coordicide, the IOTA network is preparing digital tokens at some point in the first half of 2021. IOTA is now focused on connecting different ecosystems with unique valuable offerings and practical applications.

Chrysalis is the most significant improvement in IOTA’s history and covers all aspects of the protocol, library, portfolio, and software implementation developed by the IOTA Foundation. It is truly a significant step for IOTA as it is ready for production and the foundation for upcoming features such as smart contracts and tokenization.

Tokenization Centers IOTA’s Plans

The increasing demand for DLT solutions led IOTA to develop solutions that further boost acceptance. Consequently, they published various tools, libraries, and frames for the ecosystem to thrive when they get the most out of their knitting.

The detail of a digital asset framework is the first step in a larger scheme. Tokenization connects many parts of a mobile network, including smart contracts. The free and easy tokenization of the scalable machine platform opens up new possibilities in NFT and others that the user can explore.

Instead of a blockchain, IOTA is supported by a DAG called Tangle. The IOTA team chose to use DAG over blockchain because they felt it would help solve many of the scalability and cost issues associated with blockchain. With Tangle, each transaction can be processed individually rather than concurrently, and it can even be processed asynchronously.

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Sony Europe joins Theta blockchain validator program

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Blockchain is Finally Becoming What Was Promised

Ten years ago, Bitcoin emerged as the first cryptocurrency. It brought with it the promise to resolve some of the major challenges that come with regular fiat currencies like the US dollar (USD) and Chinese yuan (CNY) — including rampant inflation, counterfeiting, and centralization.

But despite this, it isn’t Bitcoin that is poised to reshape finance as we know it, but its underlying technology known as ‘blockchain’. This decentralized ledger technology has gone through several iterations in the past decade, and one of the most recent forms looks set to radically shake up the way we interact with our money.

The Era of Decentralized Finance

Parity Labs’ Substrate is currently the most advanced blockchain platform. (Image: Parity Labs)

The first generation of blockchains brought incredible security, transparency, and efficiency that has yet to be matched by legacy financial technologies.

These first-generation blockchains are used to power platforms like Bitcoin (BTC) and Litecoin (LTC) — which are capable of transferring value across borders in minutes, at a tiny fraction of the cost of traditional remittance firms and are practically unhackable.

Ethereum (ETH) and Cardano (ADA) introduced the second generation of blockchain-based platforms. For the first time, these were able to host self-executing scripts known as smart contracts, which run on the blockchain and automatically execute based on defined parameters. These were used to be a dazzling array of blockchain-based applications, some of which offer features that replicate traditional financial infrastructure — like investment platforms, trading apps, and open lending platforms.

Many of these decentralized applications (dApps) fit into the category of ‘decentralized finance (DeFi)’ — since they provide features that allow users to retake control of their finances and better make use of their cryptocurrencies.

But now, with the advent of Substrate — a third-generation blockchain platform — DeFi is set to go mainstream; since projects will be able to build interoperable applications that leverage the unique properties of individual blockchains to provide solutions that were simply not possible before.

Clover is the platform at the epicenter of this revolution. Built on Polkadot (a Substrate-based platform), it benefits from extreme scalability and security, while also enabling a degree of interoperability between applications that has not yet been seen before in a blockchain system. It’s used by projects to easily build and deploy highly capable decentralized applications that can serve practically any purpose.

With it, the next generation of blockchain-based dApps will be deployed, potentially ushering in the age of mainstream decentralized finance.

The Power of Programmable Money

Platforms like Convergence can be used to tokenize and trade real-world assets. (Image: Convergence)

Although blockchain technology is the main star of the burgeoning crypto industry, cryptocurrencies are also going through an evolution of sorts. What were once static digital assets that served a single purpose, have now evolved into programmable units that have the capacity to way to reshape the way we think about money.

Nowadays, cryptocurrencies can be more than simple stores of value or currencies, and can represent practically anything — ranging from fiat currencies to commodities and real estate, to works of art and even traditional shares. This has enabled the advent of so-called ‘synthetics issuance’ platforms, like XinFin and Synthetics — which allow almost anything to be tokenized and represented as a blockchain-based asset.

But more than this, programmable money can also represent even more complex asset types, whereby a single unique could represent the ownership or transfer or multiple units at once, i.e. basket assets like BLEND, or derivative positions — like leveraged futures products, options, and more. As you might imagine, these digital assets provide a great deal more flexibility than is possible with simple cryptocurrencies like BTC or LTC — since they can represent anything, whether real or virtual.

This programmable money is currently being used to build increasingly capable decentralized financial products, that in time, could eventually replace stock exchanges, clearinghouses, banks, and practically all of the intermediaries we are accustomed to dealing with when managing our finances.

As a result, the combination of decentralized finance and programmable looks set to return power to the individual, while eliminating costly, time-consuming, and inefficient intermediaries that profit from users while giving little in return. And given the current pace of change in the industry, this might happen sooner, rather than later.


China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year

China’s Inner Mongolia Plans to Shut Down Bitcoin Mining Operations by April This Year

Inner Mongolia, an autonomous region in northern China, is planning to shut down all cryptocurrency mining activities in the area by April 2021, as part of efforts to improve energy efficiency.

Regulating the Electrical Consumption in Inner Mongolia

The government of Inner Mongolia will also stop approving new projects in energy-intensive industries such as steel and coke production, Reuters reported on Mar. 1, citing a draft policy to regulate energy consumption in the region.

Chinese journalist “Wu Blockchain” tweeted that the decision might be due to China’s need to meet its carbon emissions commitments under the U.N. climate change treaty. Much of the energy produced in Inner Mongolia is coal-based, a major source of climate-changing greenhouse gas emissions. China, the world’s second-largest polluter after the U.S., aims to achieve carbon-neutrality by 2060.

Together with the likes of Sichuan and Xinjiang provinces, Inner Mongolia is a favorite destination for miners looking to extract bitcoin (BTC) at low electricity prices. According to Cambridge University’s Bitcoin Electricity Consumption Index, Inner Mongolia accounts for eight percent of the global hash power total, and China 65%, though these figures have been brought into question.

Beijing’s Energy Consumption Targets Carbon Neutrality Before 2060

However, the region drew criticism from the central government in September after it failed to meet Beijing’s energy consumption and energy intensity targets in 2019. It was the only one of 30 Chinese mainland areas that failed to do so, according to the Reuters report.

Now, China’s second-largest coal-mining region is going all out to cut consumption from sectors considered to be using a lot of electricity, including bitcoin mining. Crypto mining, which requires large amounts of computing power, will be shut down by April this year. Other affected industries have until the end of 2022 to wind down their operations.

Per the Reuters report, Inner Mongolia “aims to cap energy consumption growth at around five million tonnes of standard coal equivalent in 202.” It also plans to cut “the amount of energy consumed per unit of economic growth, by three percent from 2020

“[(Inner Mongolia] will tighten its energy control measures and bear the targets throughout all economic and social aspects,” said the draft policy. The region’s energy intensity rose by 9.5% during the period 2016-2019.

What do you think about the impending closure of crypto mining in Inner Mongolia? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Nearly 20% of Bitcoin Supply Hasn’t Budged In 7 Years

bitcoin supply seven years btc


Nearly 20% of Bitcoin Supply Hasn’t Budged In 7 Years

Bitcoin price is appreciating at full steam because the market consists of nothing but buyers at the moment. Those who already own the abundance of the currently circulating supply are holding strong and refusing to sell. However, data shows that nearly 20% of the entire circulating supply hasn’t moved in seven years. Are those coins held by the strongest holders yet, or are there other reasons the large share of BTC supply hasn’t moved in so long?

Almost 20% Of BTC Supply Hasn’t Moved In Seven Years Or More

Bitcoin is struggling to get back above $50,000 currently, but it might not be long before it does so. The available supply of BTC on cryptocurrency exchanges is at an extreme low, and what little supply is available is being bought by institutions at a rate of 13,000 BTC per week on Coinbase Pro alone.

Corporations are buying BTC by the thousands, planning to hold the volatile asset as an alternative to cash reserves at risk of inflation. Those that do buy into Bitcoin, typically do have a plan to hold for a set amount of time, or have a certain price in mind.


Most crypto believers and financial analysts who understand the asset’s digital scarcity expect the price per BTC to reach hundreds of thousands by the time the current bull cycle is over. With investors knowing this, they’re not selling at any price below it. Miners have been selling, but even that has begun to dry up.

glassnode bitcoin hold waves

Bitcoin "HODL" Waves show how long the supply has been held for | Source: glassnode

Still, the ultimate goal with Bitcoin for most participants is to try to sell as close to each top as possible, taking as much profit as they can. That makes the holding threshold roughly four years or less.

However, data shows that as much as 17.87% of the circulating Bitcoin supply has been held for as long as seven years or more. But why?

Lost Bitcoin, Or The Strongest Holders Crypto Has Ever Seen?

At some point during that time, the cryptocurrency would have gone through two bear and bull cycles, and appreciated from $1,000 or lower to now $50,000 per coin.


Perhaps those holding these coins are poor at timing the top, and end up getting stuck holding on the way down. Maybe they’ve got a long term plan or price point in mind, and after seven years it still hasn’t been reached.

bitcoin btc supply coins

Anyone holding seven years or longer bought before that line | Source: BTCUSD on TradingView.com

The most likely answer, however, is that these coins are lost – forever. A sizable portion of those holding seven years or more, have actually been at it ten years or more. The longer the coins have been held, the more likely the chance they’re locked away and inaccessible.

Even Satoshi’s coins, spread among wallets said to contain more than 1M BTC, haven’t moved in that long and could be gone forever. In the rare event that the coins are still accessible, after seven or more years of price appreciate, are bound to be worth a fortune.

Featured image from Deposit Photos, Charts from TradingView.com

As BTC Rally Resumes, Peter Schiff Says Wall Street Firms ‘Now Advocate Buying Bitcoin’

Bullish comments/moves in recent days by several major financial institutions such as Citigroup, the Goldman Sachs Group, Fidelity Investments, and JPMorgan Chase, are legitimizing Bitcoin’s store of value narrative, as well as making some perma-bears, such as Peter Schiff, extremely frustrated.

Here are a few examples of Wall Street’s seemingly much more positive stance toward cryptocurrencies in general and Bitcoin in particular:

  • JPMorgan Chase. Per a report published by Bloomberg, on February 24, Joyce Chang, Global Head of Research at J.P. Morgan, discussed cryptocurrencies in a note to clients, where she wrote: “In a multi-asset portfolio, investors can likely add up to 1% of their allocation to cryptocurrencies in order to achieve any efficiency gain in the overall risk-adjusted returns of the portfolio.
  • Citigroup. On March 1, Citigroup’s premier thought leadership product, Global Perspectives & Solutions (Citi GPS), released a 108-page report on Bitcoin titled “Bitcoin: At the Tipping Point”, in which the authors wrote that Bitcoin could “become the currency of choice for international trade.”
  • Fidelity Investments. On March 1, Jurrien Timmer, Director of Global Macro at Fidelity Investments, published a 12-page research paper on Bitcoin (titled “Understanding Bitcoin: Does bitcoin belong in asset allocation considerations?”), where he said “bitcoin has gone mainstream, already considered a legitimate asset class by more and more investors” and that “bitcoin is gaining credibility, and as a digital analog of gold but with greater convexity… bitcoin will, over time, take more market share from gold.
  • The Goldman Sachs Group. According to a report published by Reuters yesterday, Goldman Sachs has “restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients from next week.”

Peter Schiff, who is one of Bitcoin’s harshest critics, is the CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, and founder and Chairman of SchiffGold, a full-service, discount precious metals dealer. As you read the two tweets shown below, you can almost hear a sigh of exasperation from Schiff as he objects to what seems to be the start of Wall Street’s love affair with Bitcoin:

Regardless of what Schiff thinks, the fact that even a perma-bear like him is conceding that Wall Street is recommending investment in Bitcoin as part of a multi-asset portfolio seems very bullish, and all this positive news is currently (as of 15:28 UTC on March 2) helping Bitcoin to comfortably stay above the $48,000. Data from TradingView tells us that the Bitcoin price reached today’s intraday high of $50,250 at 00:24 UTC.

According to data by CryptoCompare, as of 15:32 UTC on March 2, Bitcoin is trading around $48,710, down 1.18% in the past 24-hour period, but up 68.12% in the year-to-date period.

Earlier today, popular crypto analyst and trader Michaël van de Poppe offered this technical analysis of Bitcoin’s price action:

Finally, as Huobi Research pointed out earlier today, according to the website “Bitcoin Treasuries“, currently we know of at least 42 companies that are holding a total of 1,350,063 BTC (the number has gone up since Huobi Research posted their tweet).

Featured Image by “SnapLaunch” via Pixabay.com

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

Evolves files for Ether ETF with Canadian regulators

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Huobi Futures Makes its Partnership Program More Profitable with Transaction Fee Rebate Boost


Huobi Futures Makes its Partnership Program More Profitable with Transaction Fee Rebate Boost

Huobi Futures has seen significant demand over the last year with its annual trading volume ranks first globally. Open interest and trading volume have been soaring, and new user registrations are increasing by the day.

To share the runaway success with the cryptocurrency community and to contribute towards growth across the ecosystem, Huobi Futures has made its “Invite Friends” partnership program even more lucrative than before with a transaction fee rebate increase.

Here’s more about the rebate appreciation and the program itself.

Invite Friends” Incentives Boosted From 40% To 60% Contract Rebates

Huobi Futures, a leading cryptocurrency derivatives provider, has expanded upon its “Invite Friends” program for the first time, raising the partnership incentives from 40% in contract transaction fee rebates to 60%.

The partnership program has always been a “win-win” for the industry, boosting the development of DeFi and accelerating the adoption of digital finance and assets while also rewarding users who contribute to growth.

All About The Upgraded Contract Transaction Fee Rebate Offer

Interested parties can apply to the referral program via the registration form in just a few clicks and only a few moments of worthwhile time spent. Huobi evaluates the qualifications of all applications within ten business days or in as little as 24 hours.

At the moment applicants receive approval, they can begin leveraging the transaction fee rebate they get from their invitees. The contract rebate is currently applied to both coin-margined futures and coin-margined swaps offered by the derivatives platform.

Rebates are generated from each invitee’s net transaction fees. More invitees would result in a larger revenue stream. Three levels are offered for one year, two years, and permanent, each providing different maximum earnings thresholds per invitee and channel. Levels reached depend on the number of invitees with active trading accounts, and accumulative trading volume.

Addition rules relate to risk controls, code of conduct, and more apply, meaning that applicants must maintain specific integrity standards, ensuring that the program itself is well represented in the crypto community and finance world.

Why Choose the Rebate Program of Huobi Futures?

Joining the Transaction Fee Rebate Program of Huobi Futures indicates that you can not only receive the 60% fee rebate from your friends, but also enjoy the below benefits with your friends:

  • an excellent liquidity;
  • a comprehensive product line covers coin-margined futures/swaps, USDT-margined swaps and USDT-quoted options;
  • a mature risk-control system and top-level technique to ensure asset safety;
  • abundant innovative functions like “Locked Margin Mechanism” and “Ratio-based Take Profit & Stop Loss”;
  • VIP+1 policy with evaluation based on USD instead of BTC;
  • 7*24 point-to-point service on this one-stop derivatives trading platform.

How to Learn More and Become a Huobi Partner

Who we want:

  1. KOLs, media or institutions with rich resources;
  2. Huobi’ followers who hold a similar value with Huobi Futures;
  3. Any users who have a huge interest in our referral program.

How to register:

Users can register to take advantage of this exciting expanded offer by using the Huobi “Invite Friends” registration form or by emailing app@huobi.com.

Emails must include “Huobi UID, business country and region, own resources and background, brief business plan, self-introduction, personal WeChat/Telegram or mobile phone number and other information.”


For more information, visit Huobi Global.

Cryptos Rally off Equity Markets and Institutional Interest


Cryptos Rally off Equity Markets and Institutional Interest

The Crypto market rose on Monday as new macro factors and institutional interest weighed in.

Cryptos Recover from Selloff

Following last week’s sell-off, Bitcoin and the broader crypto market rallied alongside the US equity markets. Bitcoin (BTC) retraced back up to $49,000, with Ethereum (ETH) recovering to $1,500. The biggest crypto names all recovered to varying degrees, except for Cardano (ADA) which saw a small dip to $1.24 earlier today. In the equity markets, the Dow soared 603 points and NASDAQ 496 points respectively, as treasury yields cooled and the Congress revealed that the stimulus package was well on its way. 

The stimulus package may also turn out to be a significant boon to the Bitcoin rally. The $1,400 direct payments to all eligible Americans will likely find its way to the crypto markets. Historically speaking, this has been the case. When the past two stimulus checks were passed by regulators, exchanges surged in usage. 

In 2020, CoinTelegraph reported that deposits equal to stimulus check payouts appeared across crypto exchanges. An analyst team from Bank of America stated in late January that a dramatic increase in retail activity was imminent with another round of stimulus checks.

With a renewed public interest in Bitcoin and altcoins, the stimulus injection will most likely serve as another catalyst for the continued bullish trend well into the 2nd quarter of 2021. 

Major Bank Revamps Crypto Trading Desk

Per Reuters London, Goldman Sachs Group Inc restarted its cryptocurrency trading desk, selling bitcoin based financial products to clients starting from next week. With more institutions taking advantage of Bitcoin and other fast-growing digital assets, Goldman is rebooting its operations from 2018. They will offer derivatives based on Bitcoin futures and explore a potential crypto exchange traded fund (ETF).

As new opportunities in the blockchain space arise with the likes of the Central Bank exploring a potential Central Bank Digital Currency, the bank looks to reestablish its crypto-based offerings and infrastructure. Goldman Sachs is one of the first major banks to offer crypto-tied financial products to its clients, and without a doubt, many more will likely follow. 

Featured Image from UnSplash