Crypto Shuttle News

Tag: boost

  • Boost Insurance unveils product covering retail users against crypto theft

    Boost Insurance unveils product covering retail users against crypto theft

    [ad_1]

    Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

    Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

    The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

    Boost + Breach

    While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

    Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

    “Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
    – Eyhab Aejaz, Co-Founder & CEO at Breach

    To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

    “With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
    – Alex Maffeo, CEO & Founder of Boost

    In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

    “Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
    – Joe Ziolkowski, CEO at Relm

    [ad_2]

    Source link

  • Altcoins sell off while exchange listings boost COTI and Conflux Network

    Altcoins sell off while exchange listings boost COTI and Conflux Network

    [ad_1]

    Bears pressed harder on the market on Aug. 26 after Bitcoin (BTC) continued its pullback to an intra-day low at $46,250 and altcoins nursed near double-digit losses.

    While most of the market is seeing red, a few altcoins managed to notch notable gains due to exchange listings and new staking opportunities.

    Top seven coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

    Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were COTI, XYO Network (XYO) and Conflux Network (CFX).

    COTI rallies after listing on Coinbase

    The top-performing coin over the past 24 hours was COTI, an enterprise-grade fintech platform focused on decentralized payments.

    VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for COTI on Aug. 22, prior to the recent price rise.

    The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

    VORTECS™ Score (green) vs. COTI price. Source: Cointelegraph Markets Pro

    As seen in the chart above, the VORTECS™ Score for COTI turned solidly green on Aug. 22 and proceeded to climb to a high of 79 on Aug. 25, around two hours before the price increased 81% over the next day.

    The burst of momentum for COTI came after it was announced that the token would be listed on Coinbase Pro and Huobi, two of the largest cryptocurrency exchanges by daily trading volume.

    XYO volume surges

    The XYO Network is comprised of a network of devices that anonymously collect and validate data with a geographic component (geospatial). All data obtained from the tracking devices on the network are stored on the XYO blockchain.

    VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for XYO on Aug. 21, prior to the recent price rise.

    VORTECS™ Score (green) vs. XYO price. Source: Cointelegraph Markets Pro

    As seen in the chart above, the VORTECS™ Score for XYO climbed into the green zone on Aug. 21 and reached a high of 72, around 67 hours before its price increased 36% over the next two days.

    Related: Forget Lambos, NFTs are the new crypto status symbol

    Conflux Network expands its NFT ecosystem

    The Conflux Network is a public, permissionless blockchain network that has the goal of bridging the communities and economies of Asian and Western societies in order to facilitate the secure and interoperable flow of assets and data.

    Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.269 on Aug. 25, the price of CFX rallied 40% to an intraday high at $0.377 on Aug. 26 as its 24-hour trading volume surged by 242% to $66 million.

    CFX/USDT 4-hour chart. Source: TradingView

    The sudden price surge comes as the CFX ecosystem works on building out its NFT ecosystem, and the token appears to have also benefited from recently being listed on the Mexo and Tokocrypto exchanges.

    The overall cryptocurrency market capitalization now stands at $1.993 trillion, and Bitcoin’s dominance rate is 41.2%.

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.