Why Bitcoin is Continuing to Climb, from More Solid Ground Than Ever
Last night saw Bitcoin once again soaring up the market, with a 6% increase over the course of three hours. This continues a fantastic start to the year for the world’s largest decentralized currency, which is up 30% since January 1st, and pulling along with it several other primary cryptocurrencies, including Ether, Litecoin, Ripple, and Dash.
A Significant Moment for Bitcoin
January 2020 is certainly proving highly significant for Bitcoin. The sharp increases and painful falls of the past pale into comparison with now, as the current increase seems to come from a far better-established position with much more stability. Furthermore, the activity around Bitcoin is expanding in exchanges, banks, and other financial institutions, together with its legitimacy and relevancy.
World Economic Forum
Last week, at the World Economic Forum annual summit at Davos, Switzerland, Bitcoin, cryptocurrencies, and blockchain technology were honored guests. Many of the billionaires, bankers and treasury ministers who gathered in Davos are still fairly skeptical about the decentralized economy, but despite this, they also realize that they cannot stop it.
The World Descends into Chaos, And Bitcoin is on the Rise
It seems that the more agitated the world agenda, the more Bitcoin’s popularity grows, and strengthens its status as a hedge against the traditional markets. The continuous climb of the stock exchanges is increasing concerns of a coming crisis, but in January there were new worries blending with the slow growth in the global economy, the unstoppable printing of fiat money, and the huge debts in the balance sheets of the biggest countries.
Crisis as a Catalyst
Things happen so fast in today’s world that it’s hard to remember that the geopolitical turmoil between the United States and Iran was only three weeks ago. These led to plummeting world exchanges, and a flood of investors running to safe havens, such as Bitcoin whose price jumped sharply in early January – initiating the strong trend for the month. The latest potential crisis is the coronavirus, which is causing the spread of red screens in stock exchanges all over the world, as the number of victims increases. The concern regarding a global epidemic grows – a situation that is seriously hurting China, but more importantly, an effect that far transcends its borders.
The Age of CBDC
One important sign of the growing recognition in the crypto market is the discussions about national digital money, dubbed Central Bank Digital Currency (CBDC). The Chinese are continuing to prepare for the launch of a digital Yuan later this year. As expected, from the moment China announced its intention to launch CBDC in 2020, many countries that had previously been at a standstill on the issue, have now stepped up their efforts. Canada, England, Japan, Sweden, Switzerland, and the EU have set up a CBDC launch group, and other countries are also moving towards this.
While CBDC is not a cryptocurrency, and in some ways is actually the opposite of crypto due to its centralized control by governments, it has a very positive effect on the decentralized market. CBDC speeds up the understanding among users and decision-makers at the government and financial level about the digitization process that is underway in the investment and payments world.
One of the clear, albeit somewhat concealed, motivations driving central banks and governments to issue CBDC is to compete with the usability and innovation of crypto. They fear the moment when the public will increase the usage of the cheap and efficient solutions that the crypto world can offer.
Furthermore, the platforms that will be built to distribute CBDC are expected to enable collaboration with blockchain platforms, thereby accelerating their use. The existence of government-controlled digital money is sharpening the need for financial tools that are censorship resistance, private and safe, much like Bitcoin and other cryptocurrencies.
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…
My Crypto Heroes Announces Issuance of MCH Governance Token
Tokyo, Japan, 24th November, 2020, // ChainWire //
My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH.
My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.
What is MCH Coin?
MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.
Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.
The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:
During December 2020 the first governance…
Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving
Singapore, Singapore, 23rd November, 2020, // ChainWire //
Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).
StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.
“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.
“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”
Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…