Crypto Shuttle News

Month: October 2021

Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz
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Bitcoin has been on the rise with the start of the new month. The first week of October brought with it good tidings as top cryptocurrencies in the market had begun to rally for the first time in weeks. Bitcoin hit a new 4-month high on Friday with its break above $56K. Bulls have set their eyes on new all-time highs before the end of the year and CEO of Galaxy Digital Mike Novogratz has echoed this sentiment.

New Investors Holding Up The Market

Billionaire Mike Novogratz was on CNBC’s “Squawk Box” to talk about the crypto market. Novogratz said that new investors were the reason bitcoin and ethereum price had held their high value. New investor enthusiasm has been on the rise since the bull market first slid into full gear at the beginning of 2021. But the recent turn of events in the crypto market has triggered a new wave of entrants into the space.

Related Reading | CEO Of Soros Fund Management Confirms That The Family Office Is Invested In Bitcoin

Novogratz puts the current crypto global wealth percentage at 0.5%, only a small number compared to other financial markets. Nonetheless, an impressive percentage is given that the crypto market is yet to enter its teenage years. The billionaire expects the percentage to rise well above 0.5% as more investors move into the crypto space.
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BTC price trading north of $54K | Source: BTCUSD on TradingView.com
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Speaking of new investors coming into the market and holding up the prices, the billionaire had this to say; “It’s holding because of just new money coming in. There was $17 billion of new venture capital that went into the first half of the year. It’s just a tremendous inflow of both talent and money.”

Expecting A Parabolic move

Novogratz’s firm Galaxy Digital is a well-known investor in the blockchain and cryptocurrency industry. Given this, the billionaire has always been bullish on the crypto market and has been vocal about his bullish stance. During his interview, the CEO revealed that he was expecting the crypto market to break new all-time highs through the fourth quarter of the year.

Related Reading | Investors Expect Ethereum To Outgrow Bitcoin, According To CoinShares Survey

“Not to sound like the ever bullish guy that I sometimes am accused of being, but I literally see a scenario where we take out the highs in Bitcoin and we have one of these parabolic moves in all the crypto going into the fourth quarter.”

Novogratz explained the reasoning behind his prediction using a racehorse analogy. He compared the movement of the crypto market to “the horse that turns the corner at the end” that ends up winning the race. Novogratz reiterated his bullish stance for the final quarter of the year. “The assets that are ahead in the fourth quarter usually have great finishes because everyone piles on and pushes the valuations higher.”
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Chart from TradingView.com
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October 8, 2021
Jasmy (JASMY) and is now available on Coinbase

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Starting today, Jasmy (JASMY) is available on Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store JASMY in most Coinbase-supported regions, with certain exceptions indicated in each asset page here. Trading for these assets is also supported on Coinbase Pro.

Jasmy (JASMY) is an Ethereum token that powers Jasmy, an organization that develops IoT (“Internet of Things”) platforms. Rather than coordinating networks of devices and data through centralized servers, Jasmy aims to decentralize the process via edge computing and storing data on IPFS, a decentralized storage network. JASMY can be used to transfer tokens between devices and payment for network services.

One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see JASMY), as well as a new section of the Coinbase website to answer common questions about crypto.

Customers can sign up for a Coinbase account here to buy, sell, convert, send, receive, or store e Coinbase Android and iOS apps. Coinbase customers can now trade, send, receive, or store JASMY today.

Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process.

This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.

Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.

All images provided herein are by Coinbase.

Jasmy (JASMY) and is now available on Coinbase was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

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October 8, 2021
Bitkraft VC launches $75M investment fund for blockchain gaming
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E-sports, gaming and interactive media investment platform Bitkraft VC has established a $75 million token fund for investing in blockchain gaming and digital entertainment.

The fund uses a “stage-agnostic” strategy, meaning that it will put money in companies and startups at any business development stage. Apart from equity investment, the token fund will also invest in cryptocurrencies and nonfungible tokens (NFTs).

In order to provide regulated investment opportunities, Bitkraft received an investment advisor registration from the United States Securities and Exchange Commission in June 2021.

The new token fund is led by Piers Kicks, a founding partner in the investment arm of crypto research firm Delphi Digital. Kicks joined Bitkraft earlier this year to lead the company’s investment efforts in crypto and NFTs.

Bitkraft stated that the fund has already closed six investments including projects like Yield Guild Games (YGG), Immutable, Alethea AI and Horizon Games. Both YGG and Alethea are direct token investments, Kicks told Cointelegraph. “We were only able to announce the funding after final closing, but have been actively deploying from it,” he added.

While the fund has mainly invested in startups building on the Ethereum blockchain, Kicks stated, “We adopt a chain-agnostic approach and assess each project on a case-by-case basis. We are beginning to see some exciting activity on Solana, and will be closely monitoring early gaming projects in that ecosystem.”

Related: Axie Infinity developer secures $152M in Series B funding from investors

According to Bitkraft Ventures founding general partner Jens Hilgers, the fund is looking to invest in about 25 more companies by the end of 2022. The venture capital firm has more than $540 million in assets under management as of Oct. 1, 2021, with a portfolio spanning more than 60 companies across North America, Europe and Asia.

The gaming industry has proved ripe for crypto adoption, with many new use cases for decentralized finance (DeFi) and NFTs. Blockchain game Axie Infinity has emerged as one of the most popular Ethereum-based NFT games this year, with its native token AXS reaching a new all-time high above $155 on Monday. In September, blockchain gamification platform DeFi Land raised $4.1 million to launch a new DeFi game on Solana.