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  • Green energy crypto mining ETF launches on New York Stock Exchange

    Green energy crypto mining ETF launches on New York Stock Exchange

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    An exchange-traded fund focusing on more environmentally friendly crypto mining operations and infrastructure has been launched in the United States.

    The new Viridi Cleaner Energy Crypto-Mining and Semiconductor ETF started trading on Tuesday, July 20, on the New York Stock Exchange under the symbol ‘RIGZ’.

    The product is part of growing efforts to attract mainstream investors with a focus on environmental, social and governance (ESG) issues.

    Viridi Funds, which launched the new investment product, stated that the fund also invests in crypto mining infrastructure businesses and semiconductor companies such as Samsung Electronics, Nvidia Corp., and Advanced Micro Devices, according to Law360.

    Viridi CEO Wes Fulford, a former CEO of Bitfarms, said the fund will focus on clean energy screening. He said that the migration of mining out of China to North America was good news, as more than half of crypto mining operations in the region now use renewable energy sources:

    “Obviously, with what’s happened in China the power used is dramatically lower than it was at the beginning of June. And it’s also providing the added benefit that more computing power is finding its way to other jurisdictions, sort of decentralizing the network even further, which adds to the security.”

    Fulford added that Bitcoin and Ethereum address the ‘S’ and the ‘G’ from the ESG principles pretty well, and the new EFT will be adding the ‘E’. He stated that things are still in the early innings of this emerging asset class and a “tidal wave of institutional flows” has yet to come.

    Related: Green Bitcoin: The impact and importance of energy use for PoW

    According to a July 20 CNBC report, new data shows that Bitcoin mining isn’t nearly as bad for the environment as it used to be, thanks to older less efficient machines being switched off in China and operations moving to more environmentally friendly locations. North America has jumped from fifth to second place and now accounts for nearly 17% of all global Bitcoin mining.

    On July 18, Cointelegraph reported that large U.S.-based crypto mining operations will benefit greatly from increased market share and hash rate dominance. It named Riot Blockchain, Marathon, Hut 8, and Hive Blockchain as potentially the biggest beneficiaries of China’s great mining migration.

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  • Animoca Brands and Brinc setup new NFT accelerator: Launchpad Luna

    Animoca Brands and Brinc setup new NFT accelerator: Launchpad Luna

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    Animoca Brands, a provider of digital entertainment, blockchain, and gamification technologies, along with venture accelerator Brinc, today announced the launch of Launchpad Luna, a new accelerator program to identify, mentor, and invest in promising blockchain and non-fungible tokens (NFT) startups.

    Launchpad Luna will also accept high-potential startups seeking to adopt blockchain and NFTs into their core business. The Launchpad Luna accelerator will identify and foster NFT innovation in the fields of culture, art, entertainment, media, gaming, streaming, collectibles, insurance, finance, and data management; DeFi and additional verticals will be added in the future.

    High-potential early-stage projects and startups that are accepted into the acceleration program will receive training, a launchpad, and a monetary investment of up to USD $500,000 (or equivalent) in exchange for equity and tokens.

    The Program

    Admission to the program will be prioritized for climate-conscious projects that drive digitalization that place emphasis on proof-of-stake protocols and sidechains instead of proof-of-work, and that have lower overall physical footprints. Accepted entrants will receive training in optimizing a blockchain business to minimize energy use and carbon emissions. This is in line with Brinc’s plan to invest and support the development of more than 1,000 climate-conscious startups in the next five years.

    Startups accepted into the Launchpad Luna program will benefit from a unique combination of technical resources on product development, token design, fundraising, marketing, research, analytics support, and data management. Startups will also receive support to help them scale all aspects of their businesses; including access to world-class mentors in the crypto world along with key exchanges, chains, marketers, and investors within the networks of Animoca Brands and Brinc.

    “Launchpad Luna is an initiative that furthers our mission to enable a more inclusive digital economy and we are honored at the level of enthusiasm and support we have received from the global NFT community. We are thrilled to be doing this with Brinc, the number one accelerator in the region. Brinc’s presence and network significantly increase our pathways into Europe, the Middle East, and China. And we look forward to establishing a new ecosystem of accelerators and startups at the epicenter of regional start-up activity that will allow us to contribute to the shape of the future.”
    – Yat Siu, Co-Founder & Chairman of Animoca Brands

    Background

    In early 2021, Brinc took over management of the investments into 50 AI-focused companies from Zeroth.ai; Animoca Brands’ accelerator for artificial intelligence startups. This collaboration laid the foundation for the new accelerator program; as both organizations recognized a broader opportunity to scale value creation by leveraging each other’s expertise.

    Brinc and Animoca Brands bring together leading experts in their respective fields. Brinc has made over 160 investments and is one of the world’s leading venture accelerators. Animoca Brands has invested in more than 60 businesses that are built around the use and/or trade of NFTs and has launched various blockchain projects including The Sandbox metaverse and the REVV Motorsport token and platform.

    “As we bring Launchpad Luna to market, we could not think of a better partner than Animoca Brands; which has proven successes with projects like REVV Motorsport and The Sandbox. Given the rapid evolution of this market; startups need a support system to navigate the shifting landscape of platforms, chains, and go-to-market strategies. While investors need confidence that the projects they are backing have solid foundations and are ready for growth and scale.”
    – Manav Gupta, Founder & CEO of Brinc

    The accelerator has support from various mentors and partners with an interest in the NFT space including AppWorks, Blockparty, Dapper Labs (the company behind CryptoKitties, NBA Top Shot, and Flow Blockchain), EllioTrades, Featured by Binance, Gabby Dizon (co-founder of Yield Guild Games), Harmony (ONE), Hedera Hashgraph (HBAR), Mai Fujimoto (Miss Bitcoin), Mateen Soudagar (DCLBlogger), Metakovan (Metapurse), Mindfund, Sebastien Borget (co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance), Virtually Human Studio (creators of ZED RUN), WhaleShark, and others.

    For those interested, Launchpad Luna is now accepting applications.

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  • Bitcoin Grinds Lower, Why BTC Bears Aim Larger Decline

    Bitcoin Grinds Lower, Why BTC Bears Aim Larger Decline

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    Bitcoin price extended its decline below the $31,200 support against the US Dollar. BTC remains at a risk of a larger decline below the $30,000 support zone.

    • Bitcoin remains in a bearish zone and it even broke the $31,000 support zone.
    • The price is now trading well below $32,000 and the 100 hourly simple moving average.
    • There is a major bearish trend line forming with resistance near $31,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair is likely to accelerate lower below the $30,500 and $30,000 levels in the near term.

    Bitcoin Price Extends Losses

    Bitcoin price remains in a downtrend and it is now trading well below the $33,000 pivot zone. BTC extended its decline below the $31,200 support zone and it settled well below the 100 hourly simple moving average.

    The price extended its decline and it even traded below $30,650. A low is formed near $30,445 and the price is now consolidating losses. It corrected a few points above the $30,500 level. However, there was no proper follow through above the 23.6% Fib retracement level of the recent drop from the $31,901 swing high to $30,445 low.

    An immediate resistance on the upside is near the $31,200 level (the recent breakdown zone). It is near the 50% Fib retracement level of the recent drop from the $31,901 swing high to $30,445 low.

    The next key resistance is near the $31,500 level. There is also a major bearish trend line forming with resistance near $31,550 on the hourly chart of the BTC/USD pair. The trend line resistance at $31,500 is also close to the 100 hourly SMA.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    A close above the trend line resistance could initiate a decent recovery above $32,000. Besides, a proper break above the $32,000 level may push the price towards $33,000.

    More Losses in BTC?

    If bitcoin fails to recover above the $31,200 and $31,500 resistance levels, there is a risk of more losses. An initial support on the downside is near the $30,500 level.

    The first major support is now near the $30,200 zone. The main support is now near the $30,000 level. A close below the $30,000 level could spark a steady decline in the near term.

    Technical indicators:

    Hourly MACD – The MACD is slowly gaining pace in the bearish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.

    Major Support Levels – $30,500, followed by $30,000.

    Major Resistance Levels – $31,200, $31,500 and $32,000.

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  • DeFi app KeeperDAO adds smart contract borrowing, liquidation protection

    DeFi app KeeperDAO adds smart contract borrowing, liquidation protection

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    KeeperDAO, an MEV protection protocol on Ethereum, announced today a major update to its DeFi platform. KeeperDAO has introduced a smart contract-based borrowing and liquidation protection service; that gives borrowers the most profitable way to open or upgrade a borrow position on Compound.

    The KeeperDAO borrowing platform is composed of three unique products that form the pillars of their engine: a smart contract NFT that can be used with any activated borrowing platform, a collateral booster that helps stave off unnecessary liquidations, and a wrapped version of an underlying borrowing protocol.

    To begin interacting with KeeperDAO’s platform, users mint a Hiding Vault, a modular smart contract NFT that allows them to open or migrate borrow positions from any protocol that KeeperDAO supports.

    Feature: Hiding Vaults

    Hiding Vaults also allow users to easily transfer positions between different addresses; as well as isolate riskier loans from each other while still using the same Ethereum address. This is a major improvement compared to other liquidation protection services, which spread out the risk across all users, which may result in a user losing funds due to someone else’s risky behavior.

    When a loan approaches liquidation, KeeperDAO’s new Just-In-Time Underwriter (JITU) activates. JITU will borrow liquidity from one of KeeperDAO’s deep liquidity pools to protect at-risk Hiding Vault positions.

    Providing a temporary loan to buffer a borrower’s position makes the loan appear healthier and prevents an outside liquidation. JITU is able to remove the buffer if the health of the loan improves or the borrower deposits additional collateral. If the loan’s health continues to decline, JITU will perform a liquidation.

    The first enabled borrowing protocol for the Hiding Vault is a wrapped version of Compound, which KeeperDAO calls kCompound.

    kCompound lets users deposit collateral and borrow assets as they normally would on Compound to create a position, or simply migrate their entire Compound position over to a Hiding Vault. kCompound gives users all the benefits of Compound, including APYs and COMP rewards, while also rewarding open loans with a tertiary yield, paid out in ROOK.

    Roadmap Ahead

    The KeeperDAO team is also developing borrowing protection for additional protocols beyond kCompound for the Hiding Vault. They recently announced the successful completion of their kAave Solidity Competition. Two community members were able to successfully simulate the liquidation call function in Aave; a key step in the Hiding Vault’s functionality.

    KeeperDAO, with their Hiding Vault borrowing engine and gas-free limit order exchange, aims to increase offering back user’s MEV that is created by their trades and loans and will continue to advance the MEV protection space. Moreover, KeeperDAO is currently designing ways for market makers to coordinate in redistributing MEV from miners through their upcoming Coordination Game.

    “Prior to KeeperDAO’s inception, there was no solution for Ethereum users losing MEV. We are providing the infrastructure to align incentives between users, keepers, borrowers, DeFi products, and liquidity providers. We are leading the charge in protecting and bringing MEV back to users. So far it is greatly succeeding at improving the quality of life for the ecosystem.”
    – Joey Zacherl, Founding Partner at KeeperDAO

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  • Arsenal FC to launch AFC Fan Token on Socios

    Arsenal FC to launch AFC Fan Token on Socios

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    English Premier League stalwart Arsenal F.C. is launching a new fan token in partnership with Socios, giving its supporters the ability to influence club decisions and access team-related content. 

    The partnership makes Socios the main digital meeting place for Arsenal’s fanbase, according to a Monday announcement from Chiliz, the exclusive cryptocurrency of the Socios platform.

    By holding AFC Fan Tokens, Arsenal fans will have “countless engagement opportunities” with the club, Chiliz said, including “the chance to influence the club in a series of interactive polls across a variety of decisions every season.”

    No timetable was given for the launch of AFC Token, though Chiliz indicated it would become available soon. Fans who are currently signed up for My Arsenal Rewards, a fan-centric rewards program, have the option to receive a free AFC Fan Token.

    “We are excited to launch this partnership with Socios.com that will bring our huge global fan base even closer to the club,” said Peter Silverstone, commercial director at Arsenal. “Socios.com are leading the way in blockchain in the sports industry, as we have seen from their relationships with other leading European clubs.”

    Related: Argentinian league rebrands to Torneo Socios.com with new partnership

    Chiliz has become a popular engagement platform for professional sports teams and leagues. In May of this year, three Formula 1 racing teams announced exclusive fan tokens on the Chiliz blockchain. During the same month, the Ultimate Fighting Championship, better known as UFC, announced it would launch its own blockchain-based fan token.

    As Cointelegraph reported, Chiliz is expanding its operations in the United States to pursue more fan-token engagement opportunities. CEO Alexandre Dreyfus told Cointelegraph in March that the organization’s forthcoming New York office will be a launch pad for engagement with local leagues and sporting franchises.