|All Time High:|
|Market Cap: |
|The price of #GO today is $0.00540 USD.|
The lowest GO price for this period was $0, the highest was $0.00540, and the exact current price of one GO crypto coin is $0.00539633.
The all-time high GO coin price was $0.12.
Use our custom price calculator to see the hypothetical price of GO with market cap of ETH or other crypto coins.
|The code for GoChain crypto currency is #GO. |
GoChain is 5 years old.
|The current market capitalization for GoChain is $6,601,816.|
GoChain is ranked #1091 out of all coins, by market cap (and other factors).
|There is a modest volume of trading today on #GO.|
Today's 24-hour trading volume across all exchanges for GoChain is $12,047.
|The circulating supply of GO is 1,223,389,676 coins, which is 100% of the total coin supply.|
|GO is the native coin for the GoChain blockchain.|
View the full list of GoChain blockchain tokens.
|Note that there are multiple coins that share the code #GO, and you can view them on our GO disambiguation page.|
GoChain 2022: Year in Review
A Look Back On 2022 Dear GoChain Community, As we approach the end of what has been an unprecedented year for blockchain and crypto, the time has come again to pause and reflect on this year’s work and progress. GoChain had another productive year despite the considerable challenges and headwinds encountered throughout the year. The GoChain ecosystem continues to steadily grow through real-world use cases and enterprise adoption. GoChain’s layer 1 blockchain protocol and novel “Proof of Reputation” consensus mechanism continues to resonate with organizations and enterprises, which seek a scalable, affordable, and sustainable blockchain solution. Our mission remains unchanged — driving the adoption of impactful technology for the betterment of society and our habitat. Some highlights and stats for 2022 follow: Highlights GO Protocol, Governance, & Network: Select stats (CYE2022): - No of transactions: 22.4 million+ (since inception) - Circulation: 1.2 billion+ $GO - Burned: 180,659 $GO - $GO (high): $0.039 (Jan 2022) - $GO (low): $0.005 (Nov 2022), Staking Rewards program: - Staked: 115.5 million+ $GO - Rewarded: 20 million+ $GO (since inception), Hafthor Fork (GIP-35) — completed on 23 February, 2022 (Block 23817200), Node Validators: New — 4 (The Dian Fossey Gorilla Fund, the National Livestock Producers Association, The Detox Project, Upbring); Retired — 1 (KuCoin), Listing(s): New ...
Upbring Joins The Gochain Blockchain Network As A Signing Node
Upbring is now operating a node of the GoChain public blockchain network. ST. KITTS & NEVIS | TEXAS, USA — NOVEMBER 17, 2022 — Upbring, a leading nonprofit child wellbeing organization in Texas, and the GoChain Foundation (GoChain), the developer of the GoChain blockchain protocol, today announced the signing of a Node Operating Agreement where Upbring is now operating a signing node in support of the global GoChain blockchain network. As a signing node, Upbring will be one of a maximum of fifty (50) highly reputable enterprises and organizations to run specialized servers that facilitate GoChain’s novel Proof of Reputation (PoR) consensus algorithm and to validate the blocks of transactions produced on the GoChain blockchain network. Upbring joins other world-class organizations and entities as node signers on the GoChain network including Penn State University, Lenovo, Dish, the University of Nicosia, the Royal Melbourne Institute of Technology, and Conservation International. Most recently, GoChain announced The Detox Project, the Dian Fossey Gorilla Fund and the National Livestock Producers Association (NLPA) as the latest node signers to join the GoChain blockchain network. Upbring is a Texas-wide organization focused on the implementation of generational innovation to advance child wellbeing resulting in positive shifts for generations to come. It is a direct-action organization dedicated to advancing i...
What’s New With GoChain — November 2022 Edition
What’s New With GoChain — November 2022 Edition - It’s been quite a year in the world of crypto with the total market cap dropping by 2/3rds its value seemingly overnight, many major projects collapsing like the Terra Luna Fiasco, some of the biggest crypto companies going bankrupt like Celsius, 3AC and Voyager. It’s hard to see the light at the end of the tunnel. But it’s there. For some Ukrainians, it’s the only money that works. Blackrock, one of the world’s largest investment services firms, started offering Bitcoin to its clients. Countries like Sweden are starting to use it for other proof of ownership use cases like their land registry and the Government of Colombia is using it to issue and transfer mining titles. As you may know, GoChain is focused on enterprise, NGOs and government use cases. GoChain provides a 100% Ethereum compatible chain with a very low carbon footprint making it usable by organizations with sustainability requirements. — New Use Cases - New real-world use cases continue to pop up on GoChain, including: — US Endowment Chooses GoChain for ForesTrust Blockchain. — The US Endowment will utilize GoChain to track and trace paper and pulp products for ForesTrust members, starting with Domtar, to prove provenance, account for carbon, and validate sustainability claims. Retail customers will eventually be able to verify the provenance and learn about other details o...
The Detox Project Joins The Gochain Blockchain Network As A Signing Node
The Detox Project is now operating a node of the GoChain public blockchain network ST. KITTS & NEVIS | BULGARIA — SEPTEMBER 01, 2022 — The Detox Project and the GoChain Foundation (GoChain), the developer of the GoChain blockchain protocol, today announced the signing of a Node Operating Agreement whereas The Detox Project is now operating a signing node in support of the global GoChain blockchain network. As a signing node, The Detox Project will be one of a maximum of fifty (50) highly reputable enterprises and organizations to run specialized servers that facilitate GoChain’s novel Proof of Reputation (PoR) consensus algorithm and to validate the blocks of transactions produced on the GoChain blockchain network. The Detox Project joins other world-class organizations and entities as node signers on the GoChain network including Penn State University, Lenovo, Dish, Goldbell, the University of Nicosia, the Royal Melbourne Institute of Technology, and the Global Roundtable for Sustainable Beef. Most recently, GoChain announced the Dian Fossey Gorilla Fund and the National Livestock Producers Association as the latest node signers to join the GoChain blockchain network. The Detox Project is a research and certification platform that encourages transparency in the food and supplement industries on the subject of toxic chemicals. Involved in a number of groundbreaking studies over the last few years particularly...
The Ethereum Merge and How it Affects GoChain
Ethereum is switching to Proof of Stake in what is called the Ethereum Merge. The goal is to reduce their environmental impact which is notoriously bad and consumes a significant percent of the world’s electricity. It is also supposed to lay the groundwork for future scaling and lower fees, but scaling and lower fees will not happen immediately. The fees will still be high and it will still be slow until future upgrades in 2023 and beyond. — @VivekVentures GoChain has always been green. We started green and we continue to be one of the cleanest blockchains around. GoChain already has very low fees. GoChain fees are a fraction of a penny vs dollars or tens of dollars on Ethereum. GoChain is at least 100x cheaper even on the cheapest day on Ethereum, 1000x cheaper on an average day and 10,000x cheaper on a bad day. GoChain is already scalable, 100x more scalable than Ethereum. You can use GoChain as an Ethereum Layer 2 blockchain (L2) by using the GoChain bridge at chainswap.org to transfer tokens to GoChain and back to Ethereum, to take advantage of the super low fees and scalability of GoChain. Of course, if you want to be end-to-end sustainable you can use GoChain as your layer 1 chain and deploy your smart contracts on GoChain from the start. — How GoChain Solved the Issues Ethereum 2.0 is Supposed to Solve - GoChain was started over 4 years ago to solve these very issues. It’s literally t...
The GoChain Newsletter
What’s happening with GoChain? Catch up on all the latest developments and recent announcements with The GoChain Newsletter.The GoChain network is the fastest, most sustainable, web3 compatible blockchain. Dear GoChain Community: Despite the ongoing uncertainties and increased volatility in the global markets, the GoChain team remains focused and hard at work to further expand the network and drive adoption of the GoChain blockchain. In recent months, we proudly added two new highly reputable node validators: the Dian Fossey Gorilla Fund and the National Livestock Producers Association (NLPA). We are on track to exceed our node onboarding goals for this year. Today, GoChain has validator nodes in every continent with the exception of Antarctica. Additionally, with GIP-35 approved and the Hafthor Fork completed in Q1, we now offer additional utility to our community via full staking benefits with 50% of node validator rewards distributed to stakers daily. Moreover, we continue to drive adoption and usage of the GoChain protocol. Both the Zeromint NFT Marketplace and Chainparency continue to grow with exciting new customers and projects built on our highly scalable, low-cost and environmentally-friendly protocol. Chainparency is increasingly emerging as a leader in blockchain traceability to ensure transparent, responsible, and auditable global supply chains. Our collective work has not gone unnoticed and more enterprises and ...
The National Livestock Producers Association Joins The Gochain Blockchain Network As A Signing Node
The NLPA is now operating a node of the GoChain public blockchain networkThe NLPA joins the GoChain blockchain network as a signing node. RENO, NV | COLORADO SPRINGS, CO — FEB 28, 2022 — The National Livestock Producers Association (NLPA) and GoChain, the developer of the GoChain blockchain protocol, today announced the signing of a Node Operating Agreement whereas the NLPA is now operating a signing node in support of the GoChain blockchain network. As a signing node, the NLPA will be one of a maximum of fifty (50) highly reputable enterprises and organizations to run specialized servers that facilitate GoChain’s novel Proof of Reputation (PoR) consensus algorithm and to validate the blocks of transactions produced on the GoChain blockchain network. The NLPA joins other world-class organizations and entities as node signers on the GoChain network including Lenovo, Dish, Goldbell, the University of Nicosia, and the Global Roundtable for Sustainable Beef (GRSB). Most recently, GoChain announced the Dian Fossey Gorilla Fund (DFGF) as the latest node node signer to join the GoChain blockchain network — GoChain’s first node in Africa. The NLPA was founded 100 years ago in 1921 in the United States and organized to represent the interests of its livestock members and cooperatives. Today, NLPA’s mission is to protect, provide a “strong voice”, and to ensure a positive and fair business environment on be...
How to Stake $GO
taking.gochain.io GoChain is now giving 50% of all node rewards to $GO stakers, providing a great way for GoChain supporters to earn while holding GO. This was implemented after a recent community vote on GoChain Improvement Proposal 35. GO is the token that powers the GoChain network, you can read more about it here. — How to Stake - Staking is simple, just follow the steps below: Head over to staking.gochain.io, Connect your wallet (eg: MetaMask), Click Stake, Choose how much you want to stake and submit the transaction, That’s it! NOTE: Minimum amount to earn rewards is 50,000 GO — Distributions - Rewards will be distributed daily directly to the staking wallet. No action is required. Distributions will begin on March 1st or earlier. — Unstaking - To unstake/withdraw your staked GO, just click the unstake button. GoChain Staking How to Stake $GO was originally published in GoChain on Medium, where people are continuing the conversation by highlighting and responding to this story.
The Dian Fossey Gorilla Fund Joins Gochain Network As A Signing Node
The Fossey Fund is now operating a node of the GoChain public blockchain networkThe Dian Fossey Gorilla Fund joins the GoChain blockchain network as a signing node. RENO, NV | ATLANTA, GA — FEB 15, 2022 — The Dian Fossey Gorilla Fund, founded by pioneering primatologist and scientist Dr. Dian Fossey, and the GoChain Foundation, the developer of the highly scalable and green GoChain blockchain protocol, today announced the signing of a Node Operating Agreement whereas the Dian Fossey Gorilla Fund is now operating a signing node in support of the GoChain blockchain network. As a signing node, the Fossey Fund will participate as one of a maximum of 50 highly reputable enterprises and organizations to run specialized servers that facilitate the GoChain Foundation’s network’s Proof of Reputation (PoR) consensus algorithm and to validate the blocks of transactions produced on the GoChain blockchain network. The Fossey Fund joins other world-class, high impact organizations and universities including Penn State University, Conservation International, the Royal Melbourne Institute of Technology, Dish, and the Global Roundtable for Sustainable Beef (GRSB) to support GoChain’s Proof of Reputation network. The Dian Fossey Gorilla Fund (originally the Digit Fund) is dedicated to the conservation, protection and study of gorillas and their habitats in Africa. The Digit Fund was originally founded by Dr. Fossey, who was a...
Hafthor Fork set for February 23rd
Implements GIP-35 for Staking Rewards. — GIP-35 will go live on February 23rd at block 23817200. This means 50% of the node validator rewards will be distributed to $GO stakers.22 million GO per year will distributed to stakers. Follow our Medium here and Twitter to find out when and how to stake your $GO. GoChain - 100% Ethereum Compatible, 100x faster Hafthor Fork set for February 23rd was originally published in GoChain on Medium, where people are continuing the conversation by highlighting and responding to this story.
More GoChain (#GO) News
|Coinbase is About to Go to Court With the SEC: Brian Armstrong
Coinbase is on the brink of legal warfare with the Securities and Exchange Commission (SEC) to reach long-awaited clarity on how federal securities laws apply to the crypto industry, according to CEO Brian Armstrong.
Should the regulator situation not improve, the executive said the exchange would consider relocating away from the United States.
Will Coinbase Move Abroad?
In an interview with CNBC on Tuesday, Armstrong called out “certain regulators” for taking a “regulation by enforcement approach” to crypto in the US – a term he’s previously used to describe the SEC’s treatment of the industry. Given this aggressive approach, he admitted that Coinbase was already assessing other countries for potentially setting up new headquarters.
“The UK is actually a very good one for us,” said the CEO. The region, he noted, is Coinbase’s second-highest revenue country, and its leaders have expressed promising interest in turning the nation into a Web3 hub.
Coinbase in particular is under fire from the SEC, which issued the firm a Wells Notice earlier this month, which is a notice warning of the intention to sue the company. It stated that Coinbase had violated federal securities laws, which Armstrong suspects are related to the assets listed on the exchange, as well as its staking as a service product.
The CEO said that the SEC had never notified the exchange about what it could be doing better to...
|Here's How Low XRP Can Go if $0.5 Fails to Hold (Ripple Price Analysis)
Ripple went through a considerable increase, but its upward trend slowed down upon reaching the critical resistance level of $0.58. Nevertheless, it appears to have a bullish perspective on the weekly timeframe.
Technical AnalysisBy Shayan
The Weekly Chart
After a significant spike, XRP has successfully broken through the multi-year descending trendline, a key level on the weekly timeframe, providing a positive market sentiment.
However, the price now faces two substantial barriers: the $0.53-$0.58 range and the 100-week moving average positioned at $0.63.
If XRP manages to surpass the $0.53-$0.58 zone, a rally toward the 100-week moving average becomes likely. Conversely, if the price fails to break above this range, the descending trendline will serve as Ripple's primary support level.
The 4-Hour Chart
XRP's price attempted to break the $0.58 level but was met with resistance, resulting in a reversal and a steady decline. However, after falling to $0.48, it entered a consolidation phase with low volatility.
During this period, the price formed an ascending flag pattern and is currently testing the lower threshold. Presently, XRP faces two crucial support levels: the $0.48 minor support and the flag's lower trendline.
In summary, if the price drops below the lower trendline, the minor $0.48 zone will become Ripple's primary support in the 4-hour timeframe. Conversely, if Ripple can achieve another significant surge and break past the $0.58 resistance leve...
|Ethereum's Shapella Upgrade to Enable Staking Withdrawals Set to Go Live...
The Ethereum blockchain is set to undergo its next major update since the network switched from proof-of-work to proof-of-stake through The Merge. The upcoming upgrade, dubbed 'Shapella,' which combines the Shanghai and Capella validator changes, is expected to take place on April 12, 2023. While most users will not be affected by the change, the hard fork aims to enable staking validators to withdraw their staked ethereum.Shapella Network Upgrade to Activate on the Ethereum Network at Epoch 194048
Members of the crypto community have eagerly awaited and discussed the upcoming Shapella upgrade, scheduled for April 12, 2023. According to statistics, the upgrade is just over 24 hours away. The Shanghai and Capella upgrades will occur simultaneously, with Shanghai upgrading the network's execution clients and Capella focused on the consensus layer or consensus clients.
According to Ethereum Improvement Proposal (EIP) #4895, the purpose of Shapella is to enable staking validators to withdraw their funds for the first time. Currently, $34 billion or 18.14 million ether is locked into the Beacon chain contract. After Shapella takes place, these validators will be able to withdraw their funds, subject to specific thresholds built into the rules, such as 1,800 validator cap per day. Additionally, specific validators must designate a valid withdrawal address for full withdrawals, and there are two types of withdrawals.
Ethereum chart by TradingView
|Cardano (ADA) Whales Go on an Accumulation Spree: Data
Over the years, the Cardano ecosystem has come under significant criticism for continued delays and network updates. But ADA whales remain unfettered.
In fact, the top whales have been amassing ADA even as the token struggled to break above the crucial resistance mark of $0.40.
More Gains for ADA?
According to on-chain data shared by crypto analyst and trader Ali Martinez, ADA whales are on an accumulation spree over the past two weeks. During this period, this cohort of token holders (holding between 100 million to 1 billion ADA) has managed to scoop up 560 million ADA, worth around $218.4 million.
Cardano's price trajectory, for one, has improved since the beginning of the year, pushing its YTD gains to 56% from $0.25 to the press time price of $0.39. The token was up by nearly 26% in the past month alone despite a major drawdown in the second week of March.
The launch of Cardano's native Djed stablecoin played a major role in improved investor sentiment. Following the launch, ADA's volume in whale transactions saw a sudden spike. Such an abrupt activity tends to dwindle easily, but whale activity has defied the norm and instead remained steady at high volumes.
As the broader market recovered in the later part of March, the accumulation picked up pace as well. A persistent high whale activity signal increased utility for transactions. It is, hence, a bullish sentiment that could possibly bolster investor confidence in ADA's growth potential.
Diving deeper into ITB's chart d...
|Bitcoin Price Could Go Either Way if Dimon's Recession Warnings Come Tru...
Economic, financial, and business analysts have been on the lookout for an imminent recession since late 2022. The only question in a field of certainty that a mild recession is looming is where?
Jamie Dimon: Bank Failures Could Lead to Recession in 2023
Will the recession emerge from a financial crisis? Will oil or some other commodity trigger it? Could it start in housing as it did with the Great Recession? The critical weakness in banking that became evident to markets in Q1 of this year signals it could start with a bank meltdown.
The IMF warned this week of 'shadow banks,' or non-bank financial companies that endanger financial stability as well. Jamie Dimon, longtime CEO of JPMorgan Chase and Co, warned in a recent letter it will be nothing like 2008, but the next recession will last for years:
'As I write this letter, the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to come. But importantly, recent events are nothing like what occurred during the 2008 global financial crisis (which barely affected regional banks).'
If Dimon is right and the economy is more apt to fall into recession, it could be a macro headwind. Bitcoin price could face unstoppable resistance until the cycle flips. But it could be a tailwind for Bitcoin. It just depends on how the disruptions to the economy shake out.
Recession: a Bitcoin Price Headwind or Tailwind?
A recession this year could easily put an end to the Bitcoin price rally....
|Paxful Co-Founder Will Repay Users With His Own Money: Doesn't Wanna Go ...
If you have been in the crypto sphere for some time, there are two things you should already know: you should never want to invest more money than you can afford to lose, and you will never want to read the words 'Please bear with me; I don't wanna go to jail,' from the CEO of a major exchange - for example, Paxful.
On April 6, Ray Youssef, CEO and co-founder of Paxful, a US-based P2P Bitcoin exchange, announced that he is working on a plan to reimburse users' funds using his own money in an effort to comply with the law and avoid getting into deeper legal issues following the sudden shutdown of his exchange.
Youssef stated that he is at risk of going to jail for failing to comply with court orders concerning the return of Paxful's frozen funds, which led him to take such a drastic measure.
The Paxful co-founder explained he is taking such a risk because, otherwise, funds might 'fall into oblivion,' and users might never be able to recover them. However, he asked the community for patience while carrying out this task.
Updated on frozen funds: I am working now clear a plan with the court where *I* will make users whole out of my pocket. I am already in danger of being held in contempt of court. I always put user funds first. Please bear with me. Don’t wanna go to jail but still swinging !
— Ray Youssef (@raypaxful) April 6, 2023
Paxful and Youssef Were Sued by a Former Partner
Youssef said in an interview that his troubles are largely due to a legal dispute wit...
|The Binance Lawsuit: Its Implications Go Beyond the CFTC Case
The recent lawsuit against Binance, filed by the U.S. Commodity Futures Trading Commission (CFTC), appears to have wider implications than just a single case. While the lawsuit alleges that Binance had illegally allowed U.S. residents to trade on its platform, the case has raised questions about the broader regulatory environment for cryptocurrency exchanges in the United States.
Many experts believe that the lawsuit against Binance is just the tip of the iceberg, and that other exchanges may soon face similar regulatory scrutiny. This could lead to a significant shift in the cryptocurrency exchange landscape in the United States, as regulators crack down on non-compliant exchanges.
The case also highlights the need for clearer regulations and guidelines for cryptocurrency exchanges in the United States. Currently, the regulatory framework for cryptocurrency exchanges is unclear and varies from state to state, leading to confusion and uncertainty among industry participants.
Despite these challenges, many in the cryptocurrency industry remain optimistic about the future of cryptocurrency exchanges in the United States. The increasing institutional adoption of cryptocurrencies and growing interest from mainstream investors are expected to drive demand for regulated exchanges in the country.
Overall, while the lawsuit against Binance is just the beginning, it underscores the need for clearer regulations and guidelines for cryptocurrency exchanges in the United States. As the in...
|Bitcoin Will Go Substantially Higher According to Novogratz, Here's Why
Mike Novogratz - the CEO of Galaxy Digital - opined that China's less hostile stance on the crypto industry could be one reason behind bitcoin's possible price increase in the next several months.
The Hong Kong subsidiaries of some leading Chinese banks have recently offered their services to local cryptocurrency businesses.
Novogratz's Bullish Forecast
The American investor believes certain factors could trigger a further price rally for the cryptocurrency market. For one, he argued that 'all the selling that needed to get done was done.'
Recall that the countless adverse events in the sector last year, including the Terra crash, the 3AC bankruptcy, and the FTX meltdown, hampered investor interest and caused many people to part with their holdings.
Another bullish indicator could be the positive winds coming from China. Beijing has recently given its green light on the crypto developments happening in Hong Kong, while the Bank of China, the Bank of Communications, and the Shanghai Pudong Development Bank have already started offering their services to domestic digital asset entities.
Novogratz thinks the crypto market could surge 'substantially' in the following months should the trend remains the same. He also predicted that bitcoin could tap $30,000 by the end of this month.
While highlighting the efforts of the Chinese banks, the businessman regretted that the American regulators have recently tightened the noose on the crypto universe:
|Meta to Let Go of 10,000 Employees to Boost Efficiency
In the face of economic challenges in the US, Meta, the social media behemoth, has announced job cuts to stay competitive and continue to invest in the metaverse. On March 14th, Meta CEO and founder Mark Zuckerberg revealed that the company will dismiss 10,000 employees to increase efficiency in 2023.
Zuckerberg stated that Meta's primary goals are to enhance its technology prowess and improve financial performance amid the harsh economic climate in the country. These actions align with the company's long-term vision.
He further explained that the company must bolster productivity and developer tools to attain its goals. It also must eliminate unnecessary processes and non-essential roles by streamlining its operations.
'In the coming months, our organizational leaders will unveil restructuring plans aimed at flattening our organizations, scrapping lower-priority projects, and lowering our recruitment rates. Given this hiring reduction, I have made the tough decision to further cut down the size of our recruiting team.'
Massive Layoffs Begin Tomorrow
Meta's CEO announced that the most recent of a larger wave of layoffs affecting 10,000 employees will begin tomorrow, with the dismissals spanning three months. The company also revealed that it would shut down 5,000 positions.
'Overall, we anticipate reducing our team size by roughly 10,000 people and closing about 5,000 other unfilled positions.'
As a result, a significant portion of the recruitment team may lose their jobs, an...
|Shark Tank Star Kevin O'Leary Says Most Crypto Tokens Are Worthless &mda...
Shark Tank star Kevin O'Leary, aka Mr. Wonderful, says that most crypto tokens are worthless and they will eventually drop to zero in value. He added that he now owns seven cryptocurrencies and he is getting the same volatility he did when he owned 32 crypto tokens prior to the collapse of crypto exchange FTX.O'Leary: Most Crypto Tokens Are Worthless
Kevin O'Leary shared his view on cryptocurrency investing in an interview with Scott Melker on the Wolf of All Streets podcast, published Tuesday. He said:
10,000 tokens, most of them worthless. They'll eventually just go to zero because of lack of volatility and lack of volume. They are irrelevant.
According to some data providers, there are currently about 10,000 cryptocurrencies. Coinmarketcap, however, shows a total of 22,476 crypto tokens.
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, also said on several occasions that most crypto tokens will fail. He recently urged investors not to get caught up in the fear of missing out (FOMO).
O'Leary added that he marked all his crypto investments down to zero when FTX filed for bankruptcy in November last year. The Shark Tank star solely used FTX because he was a spokesperson for the exchange. FTX paid him $15 million to be its spokesperson.
While the FTX bankruptcy case is still going on, Mr. Wonderful said: 'In the interim, to bring back our allocation, we simply went into the market and bought new positions in bitcoin, p...
|Ethereum Price Won't Go Down Quietly: Key Supports To Watch
Ethereum started another downside correction below $1,600 against the US Dollar. ETH is trading above $1,550, but it might face resistance near $1,600.
Ethereum is correcting gains from the $1,650 and $1,660 levels. The price is now trading below $1,620 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support at $1,575 on the hourly chart of ETH/USD (data feed via Kraken). The pair could attempt a fresh increase if there is a clear move above the $1,600 resistance. Ethereum Price Starts Correction
Ethereum price made another attempt to clear the $1,660 resistance zone. However, ETH failed to surpass the $1,660 and started a downside correction, similar to bitcoin.
There was a move below the $1,640 and $1,620 support levels. There was also a break below a major bullish trend line with support at $1,575 on the hourly chart of ETH/USD. The pair even spiked below the $1,550 level and traded as low as $1,530.
Ether price is now trading below $1,620 and the 100 hourly simple moving average. There was a minor recovery wave above the $1,550 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,659 swing high to $1,530 low.
An immediate resistance is near the $1,580 level. The next major resistance is near the $1,600 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the downward move from the $1,659 swing high to $1,530 low.
Source: ETHUSD on Tradi...
|Matrixport Joins Growing List of Crypto and Blockchain Companies Letting...
The crypto firm Matrixport, led by former Bitmain CEO Jihan Wu, is laying off 10% of the company's staff, according to reports published on Friday. Matrixport's COO, Cynthia Wu, cited a 'shift in the regulatory climate' and 'industry-wide capitulations' as reasons for the layoffs.Matrixport Lays Off 10% of Staff as Crypto Winter Continues
Jihan Wu's Matrixport is letting go of 10% of the firm's employees, according to multiple reports on Jan. 27, 2023. Bloomberg details that unnamed sources say the company's head of business development and investor relations has left. The news follows another Bloomberg report, published in Nov. 2022, that said Matrixport was seeking $100 million in financing from investors.
At the time, the company told the publication it was engaging with investors. In addition to sources from Bloomberg on Friday, the company's COO, Cynthia Wu, confirmed to Coindesk's Omkar Godbole that the 10% cut in staff mainly stemmed from Matrixport's marketing department.
'We've sharpened our strategic focus towards accredited investors given the significant shift in the regulatory climate following the industry-wide capitulations. Our teams have been aligned to reflect this change,' Wu told Godbole. “We continue to hire in the areas of compliance, legal, and product development, with reductions in marketing impacting 10% of our headcount.'
Matrixport's layoffs amid the crypto winter are among the many cryptocurrency and blockchain companies letting employees g...
|Polkadot Hints At Price Recovery – Can DOT Go Past 15% Weekly Ceil...
Polkadot (DOT) is in the green (see image below) and going steady. Could this hint at price recovery? Even though Polkadot’s funding rate plunged for a while, it is showing some improvement at the time of writing.
Here's a quick look at DOT price movement:
Polkadot price is up by 14.9% in the weekly
DOT low in market cap dominance
DOT shows a spike in development activity
According to Coingecko, DOT price has skyrocketed by 4% in the last 24 hours, and trading at $6.50 as of press time.
Polkadot Eco-Friendliness To Drive Positive Momentum
January was phenomenal for most cryptocurrencies that are enjoying a price rally, but DOT was seen struggling and was unable to reach its pre-FTX levels.
On a positive note, DOT was the only asset that consumed the least electricity when pitted against other cryptocurrencies. This eco-friendly quality of DOT can drive positive momentum for the coin.
POLKADOT - THE ECO-FRIENDLY BLOCKCHAIN
Thanks to CCRI Report 2022, we found @Polkadot was ranked #2, only followed by US Household in terms of the total yearly electricity consumption
Let's see more details below #Polkadot $DOT #AVAX #ALGO #BTC #ETH #SOL #ADA pic.twitter.com/S5WxxvJSA0
— Polkadot Insider (@PolkadotInsider) January 25, 2023
Even though the weighted sentiment on Polkadot remained to be negative last December, its low electricity consumption can drive a change in public sentiment, switching it to positive which is great news for Polkadot.
|Bitcoin Bullish Signal: Whales Go On $1.4B Buying Spree
On-chain data shows Bitcoin whales have accumulated $1.4 billion in the asset during the last two weeks, a sign that could be bullish for the coin.
Bitcoin Whales Added 70,000 BTC To Their Holdings In Two Weeks
As pointed out by an analyst on Twitter, BTC whales have been showing accumulation behavior recently. The relevant indicator here is the 'Bitcoin Supply Distribution,' which is a metric from on-chain analytics firm Santiment that tells us which wallet groups in the market are holding what amount of the crypto right now.
Wallets are divided into these groups based on the total number of coins they are holding currently. For example, the 10-100 coins cohort includes all wallets that are carrying a balance of at least 10 and at most 100 BTC. The Supply Distribution metric for this specific group would then show the combined number of coins that are present in these wallets at the moment.
In the context of the topic at hand, the wallet group of interest is the 1,000-10,000 coins group. Here is a chart that shows the trend in the Supply Distribution for this Bitcoin cohort over the past month:
The 1,000-10,000 coins wallet group is an important cohort for BTC as it includes addresses belonging to the whales. Since the balances of these investors are huge (the lower and upper bounds of the range convert to $22.9 million and $229 million, respectively, at the current exchange rate), movements from this cohort may sometimes have visible effects on the price of the crypto.
|Crypto.com Decides To Let Go 20% Of Its Current Workforce
The crypto industry continues to stagger under a massive wave of layoffs that have been occurring in recent times. Among the recent companies from the sector, Crypto.com has planned on axing 20% of its workforce.
The Singapore-based company, Crypto.com, has confirmed its decision via a blog post. According to Co-Founder and CEO Kris Marszalek, the platform must let go of 20% of its current employees.
Crypto.com has faced significant criticism after attempting to reassure investors that the crypto exchange is in good financial health and has nothing to worry about.
The reason for the layoffs is the current economic headwinds and industry situation. This will be the second major layoff carried out by the company. Crypto.com laid off nearly 260 employees in 2022, accounting for nearly 5% of its workforce.
Crypto.com CEO Kris Marszalek stated:
We grew ambitiously at the start of 2022, building on our incredible momentum and aligning with the trajectory of the broader industry. That trajectory changed rapidly with a confluence of negative economic developments.
The exchange platform has not specifically mentioned the positions that were laid off. The decision to fire employees has been attributed to broader market weakness and the FTX crash. The crash caused a misappropriation of customer funds and eventually bankruptcy, which has gone on to affect the industry considerably.
Crypto.com Says That It Continues To Perform Well
Kriz Marszalek had initially mentioned that the exchang...
|Bullish Signal: Bitcoin Whales Go On 20,000 BTC Buying Spree
Bitcoin whales have now started accumulating BTC once more. This comes at a time when the crypto market is seeing struggling prices marked with low momentum. Now, with these large investors picking up the pace with their investments, there could be more movement on the horizon for bitcoin.
Bitcoin Whales Fill Up Their Bags
Data from on-chain aggregator Santiment shows that large bitcoin whales holding between 1,000-10,000 BTC are accelerating their accumulation. Over the last five days, these large investors have added more than 20,000 BTC to their balances, making it a significant accumulation trend.
As a result, these bitcoin whales now hold a total of 4.57 million BTC. This figure represents 23.7% of the total circulating BTC supply as of this moment, suggesting that this accumulation may have factored into the recovery trend recorded by bitcoin over the last two days.
The accumulation trend comes hot on the heels of low activity recorded by these large bitcoin whales. As Bitcoinist reported, large whale transactions fell to only 19% of total bitcoin transactions indicating fatigue on the part of these large wallets.
However, the new accumulation of data points to a more long-term play on the parts of these whales. It also shows a willingness to buy at current levels which could mean that large BTC whales could believe that the price of the digital asset may have hit its bottom.
Will BTC Continue Uptrend? Bitcoin is now trading comfortably above the $17,000 level ...
|Solana Foundation Run RPCs Go Offline, Exec Weighs In
Solana Foundation's Remote Procedure Call (RPC) endpoints went offline on January 8th as a result of a bug in the Validator client’s test release 1.14.
According to an update by Solana Status, the bug affected those nodes that adopted the latest test release and advised those operating on the node to change over to 1.13. RPC endpoints are essentially the nodes that connect decentralized applications (DApps) and wallets to the blockchain.
The incident, however, did not impact Solana’s block production as opposed to previous cases of outages that froze the network's ability to produce block for hours.
'Mainnet beta Explorer and Solana Foundation Public RPC endpoints are currently offline as RPC node software is upgraded, following a bug in test release 1.14. Block production has not been impacted and the Solana network has not been impacted.'
The bug only affected the RPCs run by the foundation, while the private ones offered by firms, including Triton, QuickNode, and Alchemy, on the other hand, remained operational.
While clarifying that the affected RPCs represent just a tiny subset of Solana's RPC infrastructure, Austin Federa, Solana Foundation's Head of Strategy & Communications, stated,
'The Solana Foundation's RPCs are a severely rate-limited service that's not meant for anything production-grade, just testing and casual use. Solana Foundation's RPC infra is intentionally on the bleeding edge of release candidates to do just this - find bugs in low-impact...
|Elon Musk: Recent Fed Rate Hikes Might Go Down in History as Most Damagi...
Tesla CEO and Twitter chief Elon Musk says the Federal Reserve's recent rate hikes 'might go down in history as most damaging ever.' The billionaire has urged the Fed to cut interest rates immediately, emphasizing that the U.S. central bank is 'massively amplifying the probability of a severe recession.'
Elon Musk on Fed Rate Hikes
Tesla, Spacex, and Twitter boss Elon Musk warned Thursday about the damaging impact of the Federal Reserve rapidly raising interest rates.
His warning was in reply to a tweet by former investment manager Genevieve Roch-Decter stating that 'the Fed has never raised rates faster' than this year. Musk wrote:
At the risk of being repetitive, these Fed rate increases might go down in history as most damaging ever.
Roch-Decter also included a chart with her tweet showing that the Fed has hiked interest rates further and faster this year than at any other time in modern history.
Many people agreed with Musk. 'I agree, Elon. The mortgage industry is taking a blood bath. Good professionals like me (marketing) laid off. Applications at historic lows. This is a disaster,' one Twitter user wrote. Another described: 'This is what happens when the government artificially infuses $3.5 trillion into the U.S. economy. The Fed makes up for it in damaging interest hikes ... It's going to get worse.'
Musk also blamed the Federal Reserve for Tesla's loss of market value. Investment advisor Ross Gerber tweeted last week: 'Elon has now erased $600 billion of Tesla weal...
|AVAX Eyes The Next Resistance, Is It Time To Go Long?
The Avalanche (AVAX) price has been undetermined for quite a number of weeks now. The altcoin is now logging gains on the daily chart as it rose over 3% in that time frame. The coin shows signs of optimism ever since it moved up from the $12.90 support mark.
The technical outlook for AVAX displayed signs of demand and buy signals for traders. If demand continues to rise and buying sentiment increases over the immediate trading sessions, the chance of AVAX piercing through other resistance levels will strengthen further.
As the coin continues to secure higher highs and higher lows, the bulls still remain in charge of the asset. However, if AVAX starts to consolidate below the $13 price level, then the altcoin can register depreciation.
Progressive price momentum demands AVAX breach the $14.30 resistance mark. Once AVAX successfully manages to challenge that level, the bulls will stick around for longer. The market capitalisation of the altcoin already registered an upsurge which is tied to an increase in accumulation.
Avalanche Price Analysis: One-Day Chart
The immediate overhead price ceiling that Avalanche price needs to breach stood at $13.90. This move would ensure another rally to $14.60. Once the coin moves past that level, accumulation will increase considerably.
Traders had ample entry points in the market; for instance when AVAX dipped to $12. Over the upcoming trading sessions, investors can manage to see returns on the chart.
On the other hand, if due to lack of d...
|CZ Binance Spats With SBF, Crypto Markets Go Back and Forth, More Proof ...
With certain slight exceptions, the cryptocurrency market is found more or less where it was during the same time last week. The total capitalization sits at around $890 billion, according to data from CoinGecko and Bitcoin's dominance is at 37%.
Speaking of Bitcoin, the primary cryptocurrency went back and forth (just like the rest of the market, dipping below $17K on a few occasions throughout the week. However, the bulls were successful in reclaiming this important level, and the price is now found above it for an increase of 1% throughout the past seven days.
Most of the major cryptocurrencies are trading roughly at similar prices compared to last week, with certain exceptions. For example, DOGE is down 5%, and XRP is down 3%. On the other hand, Uniswap's UNI and Avalanche's AVAX are up by 6.4% and 4.9% respectively. In any case, the BTC dominance remained at 37%, which shows that there's no serious imbalance in the market between the primary cryptocurrency and altcoins.
Perhaps more interestingly, the FTX drama rages on. Earlier on Friday, 3AC's co-founder - Zhu Su, took a stab at SBF (the exchange's former CEO) for allegedly exercising pressure over media. The latter denied categorically.
A few hours later, the CEO of Binance, Changpeng Zhao, had another go at SBF and people who used to represent FTX. More precisely, CZ was talking about Kevin O'Leary and the way he looks at the whole fiasco. SBF responded, acknowledging again that CZ 'won,' causing many to believe that...
|BCH Price: Investors May Not Want To Go Long Yet On BCH – Here's W...
BCH (Bitcoin Cash) saw its chance to recover as the crypto market's capitalization still hasn't made that much recovery. After stalling for a few candles at or near its pre-FTX collapse price level, the Bitcoin hard fork continued its descent.
CoinGecko reports that Bitcoin Cash has greens on the weekly and biweekly timelines, but reds on the daily and monthly charts.
Here's a quick glance at BCH movement:
When dealing with BCH, caution is advised
There are conflicting signs coming from bitcoin cash
Bulls must keep an eye on the 50 Fib retracement line
This may indicate that trading BCH in the long term is not a good idea. At least, not yet.
The Bitcoin Correlation
As was said, the correlation between Bitcoin and Bitcoin Cash was exceptionally high during the aforementioned market correction. Its pullback showed considerable significance as it fluctuated in the 0.90s.
It's possible that BCH will experience more losses in the near and medium term as it breaches the rising triangle pattern.
When this was written, the coin's value was trading at around the 50 percent Fibonacci retracement level. There are additional breaks in the lower part of the regression channel. It suggests the downward trend could be more pronounced than initially thought.
Volatility is reflected in the Bollinger band's expansion, but it's also providing dynamic resistance. As the band widens, the orange middle band, currently at $112.7, acts as a downward pressure on the price.
|Genesis Will Go Bankrupt Without Fresh Funding: Report
Genesis, the crypto brokerage platform that froze withdrawals last week, may resort to bankruptcy if it fails to raise money from potential investors, according to people familiar with the matter.
As reported by BNN Bloomberg, Genesis has spent the past several days attempting to raise $1 billion in capital from potential investors. This backs up a Wall Street Journal report from Friday, which claimed the trading firm was unsuccessful in its endeavor.
Bloomberg stated that Genesis was in talks with Binance for a potential investment, but funding is still “yet to materialize.”
“We have no plans to file bankruptcy imminently,” a representative for Genesis said in an emailed statement to Bloomberg. “Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”
Genesis’s lending arm froze redemptions last week after another arm of the company revealed it had lost $175 million within FTX. The latter exchange filed for bankruptcy earlier this month when it couldn’t honor a flood of withdrawal requests made days prior.
FTX now faces a reported shortfall of over $8 billion that it owes to depositors, which include retail clients, institutions, and celebrities alike.
The fallout has caused other firms to suspend withdrawals as well, including BlockFi and Liquid. The former is also exploring potential bankrupt...
|Ethereum Struggles To Hold Above $1,000 As Bears Push Harder; Will Price...
ETH's price lost its demand zone as the price struggled to break above $1,250.
ETH's price continues to look bearish with the market's current state, as things look uncertain for most traders and investors.
ETH's price looks weak as the price struggles to hold above $1,100, with the possibility of reclaiming the daily 50 Exponential Moving Average (EMA) remaining bleak. The price action displayed by Ethereum (ETH) has remained disheartening, with the FTX effect affecting small crypto projects like Genesis as the market continues to look weaker with each passing day, indicating that the bottom has not yet been reached, resulting in the price of many altcoins, including Ethereum (ETH), battling for survival. The domino effect of the FTX saga and other large investors has brought the market to a halt, as the market has yet to make a significant move after the price of ETH performed well in previous weeks. Most altcoins have lost key support and have traded at a loss of more than 90%, with many hoping for a crypto revival. (Data from Binance)
Ethereum (ETH) Price Analysis On The Weekly Chart
The crypto space has seen a lot of turbulence in the last few days, with many altcoins struggling to show strength after losing key support that was holding off price declines.
|Polkadot Snags No. 1 Spot In Dev't Activity This Month – Time To G...
Certainly a welcome change for those who work in crypto. Despite widespread doom and gloom, Polkadot native coin, DOT, has become the most discussed cryptocurrency in the community. Still, that's not the end of the good news.
A recent tweet by @PolkadotInsider explained how Polkadot has more active developers than Ethereum. This demonstrates the ecosystem's widespread appeal within the cryptocurrency sector as Polkadot is able to secure the top top spot in terms of development activity this month.
However, the question of whether or not DOT is a solid buy in the present needs to be addressed. In the meantime, with this decent achievement - is it a good time to go long on the crypto?
TOP #Polkadot #DOT Ecosystem Coins by Social Activity
19 November 2022$DOT $CELR $LIT $KSM $DIA $PHA $CQT $EWT $ANKR $OCEAN pic.twitter.com/2cLLptJBve
— CryptoDep #StandWithUkraine (@Crypto_Dep) November 19, 2022
Polkadot Falls Short In Hitting New Peaks
The crypto market, as you may be aware, is now witnessing a bearish market mood takeover due to external factors of uncertainty and doubt.
All expectation of a DOT-beneficial relief rally in the near future has been dashed.
DOT's value has decreased significantly over all time frames, but it has lost 23.7% in the past two weeks, as measured by CoinGecko.
As of right now, the token is selling for $5.15, which is a loss. Correlations with Bitcoin and Ethereum, two of the most popular cryptocurrencies, show that its price ...
|Ethereum Price Won't Go Down Quietly: Risk of Bounce Grows
Ethereum is forming a base above the $1,265 level against the US Dollar. ETH could start a steady increase if there is a clear move above the $1,300 resistance zone.
Ethereum is holding the main breakdown support at $1,265. The price is now trading below $1,310 and the 100 hourly simple moving average. There is a new connecting bearish trend line forming with resistance near $1,295 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent upward move if there is a clear move above $1,300 and $1,320. Ethereum Price Remains Supported
Ethereum attempted a fresh increase above the $1,300 level, similar to bitcoin price. ETH struggled to gain pace for a move above the $1,320 level.
The price traded as high as $1,310 and started a fresh decline. There was a move below the $1,300 support zone. It retested the $1,265 support zone. A low is formed near $1,270 and the price is now consolidating losses. Ether price is now trading below $1,310 and the 100 hourly simple moving average.
An immediate resistance on the upside is near the $1,290 level. It is near the 50% Fib retracement level of the downward move from the $1,310 swing high to $1,270 low.
Source: ETHUSD on TradingView.com
The first major resistance is near the $1,295 level and the 100 hourly simple moving average. There is also a new connecting bearish trend line forming with resistance near $1,295 on the hourly chart of ETH/USD. A clear upside break above the $1,300 resistance zone could open the ...
|Kevin O'Leary Expects Bitcoin to Go up When Stablecoin Transparency Act ...
Shark Tank star Kevin O'Leary, aka Mr. Wonderful, expects the price of bitcoin to go up when the Stablecoin Transparency Act passes, which he believes could be soon after the November midterm elections. O'Leary emphasized that crypto cannot be stopped, stating: 'You either join the wave or get lost.'
'Regulations Come, Bitcoin Goes Up'
Shark Tank star Kevin O'Leary, the chairman of O'Shares Investment Advisers, shared his reason why investors should long bitcoin on the Crypto Banter Youtube channel Friday.
Mr. Wonderful explained that there is a bill called the Stablecoin Transparency Act that has a chance of getting passed by the U.S. Congress after Nov. 8, when the midterm elections take place. The Shark Tank star explained:
This Act is very simple in nature which is why it may pass. It's being supported by both parties and the reason that's the case is that it makes, effectively, the U.S. dollar the default payment system worldwide.
He proceeded to describe why the passing of this Act will boost the price of bitcoin. 'Even though it has nothing to do with bitcoin, that will be the first regulation passed by U.S. regulators, and I would argue you want to be long bitcoin going into that outcome,' O'Leary emphasized. 'You're going to see a lot of interest in institutional capital coming into' stablecoins, he added.
'If institutions smell policy, then you've got a real move up, and that's when you break out of the $19,000 to $22,000 trading range against the U.S. dollar. I thi...
|Argentina Introduces New Exchange Rates to the Mix — 'Qatar' and '...
The government of Argentina, which is currently applying dollar exchange controls, has added two new dollar exchange rates into its arsenal: the 'Qatar' and 'Coldplay' dollars. However, Kristalina Georgieva, managing director of the International Monetary Fund (IMF) has made declarations against these measures, stating they are not a substitute for 'sound macroeconomic policies.'
Argentina Introduces 'Qatar' and 'Coldplay' Into Its Dollar Exchange Rate Arsenal
While Argentina has been applying dollar exchange control measures since some time ago, the government is establishing even more types of rates for different purposes, making it more expensive for the Argentine people to acquire certain services or goods. This time, the government has introduced two new exchange rates, popularly known as the 'Qatar dollar' and 'Coldplay dollar,' due to their functionality and applications.
The Qatar dollar rate will be applied to the purchases of luxury goods and services that go over the $300 mark made with credit cards outside or inside the country. The denomination is linked to the usage that many Argentines will make of this exchange rate to purchase airline tickets and pay for hotels in the upcoming Soccer World Cup, to be celebrated in Qatar.
This denomination includes a group of taxes that are already discouraging national and international tourism, according to Despegar, an Argentine online travel agency. The company stated:
Recently announced measures further discourage ...
|IMF Warns of Bad Recession, Could BTC Go On Sale? (Opinion)
The IMF downgraded its projections for the global economy Tuesday, warning in stark terms:
'The worst is yet to come, and for many people, 2023 will feel like a recession.'
As the old joke goes: 'A recession is when your neighbor loses their job. A depression is when you lose yours.' If 2023 feels like a recession for many people, as the IMF warns, financial markets are apt to go risk off. That could mean a discount on the prices of stocks and crypto.
Bitcoin Price Remains Correlated with Stocks
The bitcoin price has been thoroughly correlated with stocks for over a year and a half now. There are many theories about the factors behind that correlation.
It may just show what markets for securities inevitably do when they reach a certain threshold of liquidity. Or it could be an indicator that institutional money has made up a sizable portion of capital inflows.
Regardless of the causative factors, the bitcoin price is likely to face a strong and persistent headwind. If the world economy stumbles into a recession, BTC could fall as investors pull their cash in close.
Bitcoin's price went down during the flash pandemic recession in 2020, along with stocks. Crypto markets sold off along with equities in Dec 2021 and May 2022 as well.
Long-Term Bullish Outlook for BTC
Now, on the other hand, it is possible that the bitcoin price gets a boost from Fed intervention. If the Federal Reserve and other banks lower rates to fight the recession, then BTC would likely rally.
In either case...
|Can Crypto Go Green? Learn About IMPT Exciting Plans for the Planet
With the negative stigma surrounding the amount of energy cryptocurrency uses, it's about time crypto projects step up and start to make a difference from inside the industry. One project that entirely focuses on helping crypto go green is IMPT - a blockchain-based carbon credit ecosystem.
Putting Carbon Credits on the Blockchain
IMPT's mission is to positively impact the environment by connecting socially responsible brands with businesses and individuals seeking to reduce their carbon footprint. In addition, they intend to provide a straightforward method for users to buy, sell, and retire carbon credits online.
Carbon credits are permits that represent carbon emissions removed from the atmosphere, with one carbon credit representing one ton of carbon dioxide removed.
By law, large companies are often required to purchase carbon credits to offset their carbon footprint that results from their industrial output. However, although large companies have obligations to buy carbon credits, small businesses and individuals are often hesitant to enter the market due to its fragmented and complex structure.
IMPT is an ecosystem that seeks to change the carbon credit market by helping users easily buy, sell, and retire carbon credits
The ecosystem is comprised of the following;
A Carbon Marketplace
A Shopping Platform
A Social Platform
Carbon Credit NFTs
Users can purchase carbon credits directly from the Carbon Marketplace when it launches in 2023.
As mentioned, today's carbon cre...
|Bitcoin Mining Company Rhodium Looking to Go Public Via SilverSun Merger
The Texas-based bitcoin mining giant is entering a merger agreement with SilverSun Technologies, a publicly-traded business technology solutions provider, as Rhodium is planning to list on Nasdaq after an initial delay.
Meanwhile, the fall in the price of BTC and the ongoing crypto winter has caused bitcoin mining companies to struggle to stay afloat.
Rhodium Makes Another Shot to go Public
In an announcement on Thursday (September 29, 2022), the merger between SilverSun and Rhodium saw unanimous approval from the Board of Directors of both companies.
Part of the terms of the deal includes each SilverSun shareholder will receive a cash dividend of a minimum of $1.50 per share, approximately equal to $8.5 million. The shareholders will also get one share of a stock dividend in a newly created SilverSun subsidiary called SWK Technologies.
Commenting on the latest development, Rhodium's Chairman and CEO Chase Blackmon said:
'We believe this strategic transaction will unlock long-term accretive value for Rhodium's shareholders. We believe access to U.S. capital markets is paramount to sustainable, long-term success in our capital intensive industry.'
The CEO of SilverSun, Mark Meller, was also optimistic that the merger agreement would benefit the company's shareholders, customers, and employees. Meller further said of the proposed deal:
'We also believe that it provides our stockholders with the opportunity to realize a substantial upfront cash payment while continuing t...