The “tokenization of everything” hits a speed bump
“TOKENIZE THE WORLD” was the ICO battle cry of 2017 and the subsequent drive to democratize art, real estate, cars, securities, and more, has enabled people to buy a token representing the value of any asset you can care to imagine.
So why are we talking about detokenization? The Digipulse CEO recently announced that 98% of all tokens connected to the project would be burned because the issued tokens are being used for speculative investment and not the built in platform. This is an issue for MANY tokenized projects. Will other companies follow suit? Read our entire piece Is Mass Detokenization On The Way.
The overall cryptocurrency market was rather stable this week floating between $205bln to $207bln representing a 1% increase, with an obvious pump and dump yesterday. Fun times ya’ll. But look closer and you will note the top 5 struggled, being held up by the King, Bitcoin.
Bitcoin (BTC): Crypto twitter was all over the place this week. $3k Targets, $11 targets, people capitulating, etc. Very entertaining. Week to week price action found a channel between $6,300 and $6,500, then pumped to $6,680 and subsequently dumped back to $6,400. Not taking into account the PnD Bitcoin experienced 1.5% growth.
Ethereum (ETH): There’s been little love for Ethereum this month. Down 45% since July 24th, there doesn’t seem to be any reprieve in sight for Vitalik’s love child. ETH currently sits at $274 as of this post experiencing a decline of 6% week to week. Curse you ICOs!!
Project of the week QUIZANDO (QUIZ): Social platforms have provided creative people with a soapbox in which to spread their views, opinions, likes and dislikes across the world. To make any revenue from the audiences they need to work hard at getting endorsement deals, look for related affiliates and constantly promote products.
This is where Quizando comes in. The Quizando project is a state-of-the-art quiz delivery system enabling players to participate in a gaming ecosystem that rewards them with cash prizes. Quizando wants to help influencers monitize their influence easily and without the need to be a business expert or turning their channels into a constant adverts.
Want to learn more? Check out our feature on What is Quizando, and learn how you can put your Quiz knowledge to work for you. Intelligence Pays! Sponsored Content.
WHAT’S NEW AT CRYPTO IS COMING
What Is Quizando? – The Quizando project is a state-of-the-art quiz delivery system enabling players to participate in a gaming ecosystem that rewards them with cash prizes. Are you a quiz master?
What is ChromaWay and Are Hybrid Database The Future? – ChromaWay is a Swedish blockchain startup that has been working on secret blockchain related research and projects since 2011.
Is Mass Detokenization On The Way? – For the last while, the “tokenization of everything” has been a constant theme in crpytocurrency, and it’s had people justifiably excited. So why are projects bruning their tokens?
Blockchain company Seven Stars Cloud Group signs exclusive $24b deal with China’s Largest Electric Bus Operator – A groundbreaking $24 billion deal between China’s largest electric bus operator (NTS) and Seven Stars Cloud Group (Nasdaq:SSC) was recently signed which will create financing products through SSC’s blockchain ecosystem.
What is Neon Exchange (NEX) – NEX is a platform for payment services and decentralized crypto trade. NEX aims to combine the performance of centralized exchanges with the trust and security features of decentralized exchanges
Blockchain Law Study group Formed in South Korea – In South Korea, lawmakers, industrial experts and judges are teaming up to form a fresh working group which will endeavor to discuss and propose solutions for issues surrounding the blockchain technology.
South Korea Still Unsure on How To Handle Cryptocurrencies – South Korea just held a session of its National Assembly with the sole purpose of discussing blockchain adoption and ICOs guidelines.
Ever Wonder Why Governments Tend to Bully Cryptocurrencies? – Stop picking on crypto, you bullies!
Bitmain Expansion: Multi Billion IPO on the Horizon – Cryptomining giant Bitmain is about to go public in what could be one of the biggest Initial Public Offerrings ever.
Kuwait Finance House Becomes First Bank Using Blockchain in The Country – The Kuwait Finance House (KFH) has confirmed it completed a cross-border transaction with the use of Ripple technology.
Hacker ordered by Federal Court to pay the bail in cryptocurrency – Cryptocurrencies are getting steady acceptance in judicial quarters. In a recent case, a Federal judge allowed an accused hacker to pay bail amount in cryptocurrency.
CRYPTOCURRENCY NEWS FROM AROUND THE INTERNET
SEC Denies Nine More Bitcoin ETFs – Please, we all knew this was gonna happen. The U.S. Securities and Exchange Commission (SEC) on Wednesday rejected applications for nine bitcoin-based exchange-traded funds (ETF) from three separate companies.
China shuts down blockchain news accounts, bans hotels in Beijing from hosting cryptocurrency events – The two incidents are the latest instances of China’s continuing crackdown on cryptocurrencies, which began last September with bans on local exchanges and ICOs.
AppleJeus: macOS users targeted in new Lazarus attacks – Researchers have uncovered a new campaign by the infamous Lazarus group which targets cryptocurrency exchanges in order to spread malware to Windows and macOS users.
Half Of The Remaining Non-Minted Bitcoin Supply Is ‘Spoken For…’ – The CoinShares team analyzed data from an ING survey and found that there are 99 million people who intend to own Bitcoin but don’t yet.
90% of Employees at Major Crypto Exchange Binance Receive Salary in BNB – At the Liechtenstein Cryptoassets Exchange (LCX), Binance CEO Changpeng Zhao told TechCrunch founder Michael Arrington that 90 percent of the exchange’s employees receive their salaries in BNB.
‘Bitcoin Jesus’ Is Having a Hard Time Winning Over True Believers – Roger Ver, the virtual currency advocate often referred to as Bitcoin Jesus, is finding it tough to win converts to the supposed second coming of the the world’s biggest cryptocurrency.
Big Investors Deny Involvement In Crypto Miner Bitmain’s Pre-IPO Funding – SAY WHAT?! Tencent Holdings and SoftBank Group are both disputing their involvement in a widely reported pre-IPO investment round for Chinese cryptocurrency mining giant Bitmain.
SoftBank Denies Reports of Bitmain Deal; Bitmain Still Silent – Hmmm this is not looking good for Bitmain. Japanese telecom giant SoftBank has denied media reports of its involvement in a pre-IPO funding round of bitcoin mining rig manufacturer Bitmain.
Here’s How You Can Validate An ICO Using Your Chrome Browser – Cryptocurrency and blockchain is a world filled with excitement and new technology, but like your Mother always warned, if something seems too good to be true then it probably is.
Wall Street’s Crypto Caution Risks Coinbase Gaining ‘Unassailable’ Position – Cryptocurrency trading revenue is primed to explode within the near future, and Wall Street is running out of time if it hopes to stop industry giant Coinbase from gaining an indomitable market position.
Nvidia is sliding after cutting its guidance and saying its crypto boom is over (NVDA) – Nvidia shares are down more than 4% Friday on trading after the chip maker cut its third-quarter revenue guidance and warned that it’s crypto business is going to zero.
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