Table of Contents
Bitcoin News: 27th October 2021
- The U.S. Government To Kickstart Three-day Bitcoin Auction On Tuesday.
- Adobe Will Offer NFT Verification in Photoshop.
- Helium partners with Dish Network to expand its crypto-based distributed 5G platform
- 26 companies and advocacy groups call on Valve to reverse its blockchain games ban
- Shiba Inu Now Valued Higher Than Nissan and LG Electronics as Price Hits Fresh Record Highs, analysis today.
- Bitcoin Price Pullback To $60,000 Is An Opportunity To Buy The Dip
- Fan Receives a Bitcoin From Tom Brady after Returning 600th Touchdown Ball
- FTX buys Super Bowl ad slot to promote crypto to a TV audience of 92M
The U.S. Government To Kickstart Three-day Bitcoin Auction On Tuesday
The United States government has stated that a three-day auction of bitcoins will begin on Tuesday, October 26th. The auction will be held online, with the bitcoins being auctioned off in batches by the United States government. GSA Auctions conducts auctions on behalf of the United States government in order to remove surplus assets and equipment held by the government.
In an online event called Fall for Cryptocurrency, the bitcoins will be sold in five batches. From Tuesday, October 26th through Thursday, October 28th, there will be three days of auctions. By the end of the auctions, the US government will have sold nearly $300,000 worth of bitcoins, or 4.94 BTC, to the highest bidder.
The auction will feature five lots with opening bids for bitcoins that are all below market value. The auctions will all take place in Atlanta, Georgia, and the lots will contain varied amounts of bitcoins. With 1.50 BTC and a starting bid of $40,809, more than $20,000 less than the market price, the first lot will have the largest volume. Other lots will have a reduced bitcoin volume to varied degrees. Starting bids for each lot will be lower for lots with lower volumes.
1.25 BTC will be auctioned off in the second lot, with a starting offer of $34,008. The third lot with 1 BTC is next in line, with a starting bid of $27,206. 0.75 will be auctioned off with a starting bid of $20,405. Finally, the US government will auction 0.44 BTC for a starting price of $11,971 in the fifth lot.
Adobe has unveiled a project that would provide verification tools to NFT producers
Users can now add information to their work using Adobe’s new Content Credentials system. Despite the fact that all photos contain metadata, Adobe’s technology tries to avoid fraud by identifying the creator of a work in a verifiable and secure manner.
NFT authors will be able to leverage this capability, according to Adobe. In the metadata of a photograph, a digital artist can include their cryptocurrency address. Buyers can then verify that the address used to create the NFT matches the address used to create the picture. If the addresses are different, the minter may have plagiarised the image.
Many of Adobe’s apps, including its flagship image-editing suite Photoshop, will accept Content Credentials. According to reports, the feature will be accessible in the app’s next round of beta features as an option dubbed “prepare as NFT.”
Adobe’s social media site Behance and its photo-hosting platform Stock will both have similar functionality.
Four sites have joined with Adobe to enable the feature on the marketplace side. Rarible, KnownOrigin, OpenSea, and SuperRare will all do this by displaying metadata on NFT listings in a tab.
At the same time, Adobe executives have praised NFT.This week, Adobe executive Scott Belsky talked about the greater possibilities of NFTs. “I’ve never seen a more powerful and better-aligned structure for innovation than NFTs,” Belsky said in a Verge interview. He complimented the idea that NFT artists can earn money from both primary and secondary sales.
Due to the simplicity of copying and pasting existing artwork, Belsky brought attention to the subject of NFT theft on Twitter, saying that “artists have seen their work stolen and minted with no benefit or attribution to the original artist.” It’s unclear whether or not artists will turn to Adobe’s approach to remedying the problem.
Helium partners with Dish Network to expand its crypto-based distribution
Any cryptocurrency project’s ultimate goal is to acquire universal adoption by providing a use case that provides real-world value that can be implemented in every home throughout the world.
Helium, a 5G Internet-of-Things-focused project, made a key step toward increased acceptance on Oct. 26 when it announced a new relationship with Dish Network, thanks to its user-run wireless network.
The agreement will allow Dish Network members to run Helium nodes and earn HNT token rewards for sharing their 5G wireless service with individuals in their vicinity, according to the statement.
This is the first major carrier to integrate the Helium 5G network into its ecosystem, which is a key proof of the project’s and technology’s validity.
In an interview with Decrypt media, Helium COO Frank Mong discussed the relationship and what it means for the Helium network’s future.
Mong said,
“Dish understands the potential blockchain can have on the wireless industry, and as the first major carrier to join The People’s Network, this partnership is real validation that the HNT incentive model is a powerful tool for deploying infrastructure at scale. Together with Dish and FreedomFi, Helium 5G will have a much broader reach where the customer benefits from the flywheel of network incentives and the applications it enables.”
The Helium network is growing at an exponential rate.
The Dish Network agreement is the latest in a year of rapid expansion for the Helium network, which now has over 256,000 unique nodes controlled by 93,561 people around the world.
A community vote in April allowed the addition of a second 5G capable network to the protocol through a collaboration with FreedomFi, making this relationship with Dish Network possible. Helium will be able to support devices such as smartphones, tablets, and laptops as a result of this.
26 companies and advocacy groups call on Valve to reverse its blockchain games ban
“The potential blockchain gaming ecosystem will grow to be orders of magnitude larger than it is now, by the end of this decade,” said Enjin chief technology officer Witek Radomski.
Fight for the Future, the Blockchain Gaming Alliance, Enjin, and 26 blockchain game firms have criticised video game company Valve for refusing to allow material relating to cryptocurrencies or nonfungible tokens (NFTs) on its Steam platform.
The firms and projects are urging that Valve rethink its decision to “prohibit an entire category of software from the Steam platform” and take a risk on crypto and blockchain technology, according to an open letter issued by Fight for the Future on Monday.
“Blockchain games are pioneering a lot of new concepts that will energise the gaming industry for both players and publishers,” said Sebastien Borget, the Blockchain Game Alliance’s president. “Ignoring the incredible progress we’ve made this year while providing unfair market access for incumbents, cutting off this blossoming sector at such a critical stage of growth is to overlook the remarkable progress we’ve made this year.”
Decentralized autonomous organisations (DAOs) and non-federal trusts (NFTs), according to Fight for the Future, can help build blockchain games “more decentralised, democratic, participatory, user driven platforms.” According to the group,
“Please consider changing your stance on this issue and permit tokens and, more broadly, the use of blockchain tech on the Steam platform. Don’t ban blockchain-based games on Steam.”
In Q3 2021, there were 754,000 active wallets associated to gaming decentralised applications. Many games allow players to earn real-world token prizes and exchange in-game NFTs, perhaps paving the way for greater crypto adoption.
In a Reddit AMA, Witek Radomski, chief technical officer of Enjin, remarked, “With blockchain, you can’t put the genie back in the bottle and try to centralise it.” “In order to thrive, blockchain gaming need interoperability.”
He continued,
“The potential blockchain gaming ecosystem will grow to be orders of magnitude larger than it is now, by the end of this decade. It’s in everyone’s best interest to work together to create well-thought-out, interoperable standards so the multiverse isn’t too fragmented.”
On its Steam store, Valve has already targeted cryptocurrency and blockchain. In 2018, the firm took down a game that purportedly mined cryptocurrency on customers’ computers. Valve declared in 2016 that it will accept Bitcoin (BTC) payments, but later discontinued doing so due to high costs and volatility.
Shiba Inu Now Valued Higher Than Nissan and LG Electronics
Shiba Inu has recently eclipsed Nissan in terms of valuation, and it is halfway to eliminating another zero from its price tag.
According to CoinGecko data, the price of Shiba Inu (SHIB) touched a new high of $0.00005364 earlier today.
Shiba Inu has surpassed Japanese car maker Nissan ($19.9 billion) and South Korean electronics company LG Electronics ($19.88 billion) in terms of market capitalization.
This week alone, the meme coin has increased by 87 percent, continuing its run of massive increases.
Despite investors’ hopes, the corporation failed to clear the air on the problem.
The trading app’s CEO, Vlad Tenev, said the company was “carefully” reviewing new coins: “We feel very comfortable about the coins that we’re now listing on our platform, and any new coins that we add, we want to feel equally, if not more happy about.”
In after-hours trading, Robinhood’s stock dropped more than 8% after the firm reported that its cryptocurrency-based revenue had dropped by a higher-than-expected 78 percent.
Despite Bitcoin’s decline, Shiba Inu has maintained its upward trajectory, breaking beyond $0.00005 for the first time in its history. Following the slowdown of Dogecoin, the meme-based coin has become a popular among investors.
Shiba Inu is currently trading slightly above $0.000053, with bulls pushing for even more gains. The main goal is for the Dogecoin spinoff to ‘remove’ another zero and trade for more over $0.0001.
The Moving Average Convergence Divergence (MACD) is climbing further above the mean line, favouring the bulls for the time being. Since the beginning of October, a purchase signal has been maintained, indicating that bulls have the upper hand.
Bulls will be able to plan and execute their next mission to $0.0001 with higher support, preferably over $0.00005.
Bitcoin Price Pullback To $60,000 Is An Opportunity To Buy The Dip
Bitcoin fell below $60,000 over the weekend, but quickly recovered, reaching highs of $63,675 on Monday. On Tuesday, rising overhead pressure made it more difficult for bulls to maintain the rise.
Bitcoin has dropped 3.5 percent in the last 24 hours, according to CoinGecko’s live price statistics, but has lost 5.5 percent in the last seven days. The fall has tested support near $60,000, but a trend reversal appears to be underway.
Bitcoin is expected to close at $70,000 in the next days, with some experts and enthusiasts forecasting that the bellwether cryptocurrency will end the year around $100,000. As a result, holders are currently using pullbacks to stockpile more BTC amid predictions of another massive upswing.
It’s uncertain whether BITC will need to retrace further before making the final jump to $70,000. On the daily chart, the Moving Average Convergence Divergence (MACD) indicator is displaying a sell signal.
The 12-day exponential moving average (EMA) crossed below the 26-day EMA, signalling a sell signal. Furthermore, as the MACD approaches the mean line, the negative trend will gain traction. It’s important to know that this technical gauge calculates momentum by following the asset’s trend.
Bears have the upper hand, according to the Relative Strength Index (RSI), and are becoming more aggressive by the hour. The RSI, like the MACD, tracks BTC’s movement and determines the strength of bulls and bears. As the RSI falls from overbought territory, it indicates that sellers have more clout. Nonetheless, these falls will continue to make Bitcoin more appealing to investors, allowing them to buy at a lower price while anticipating larger gains.
Now over to our next headline, We all know how good gifts are, but have you ever been gifted around 60000 dollars by someone who is not related to you, wait even my blood relatives would think two times before gifting something like that to me, that’s what we carry in our next segment let’s look into it. People are indeed become richer day by day, and I’m here spending my day completing my notes.
Fan Receives a Bitcoin From Tom Brady after Returning 600th Touchdown Ball
A Tampa Bay Buccaneers fan was rewarded with a Bitcoin from Tom Brady after returning the ball following Brady’s 600th touchdown throw, which was completed by Mike Evans, on a historic night.
After guiding Tampa Bay to a 38-3 victory over the Chicago Bears at Raymond James Stadium, Brady became the first player in NFL history to throw for 600 touchdowns.
After catching touchdown number 600 with six seconds left in the first quarter, Evans handed the ball to Noah Reeb, a nine-year-old seated in the end zone seat.
According to reports, the ball might fetch anywhere between $500,000 and $900,000.
Brady, a seven-time Super Bowl champion, offered Reeb 1 Bitcoin – around $62,081 at the time of writing – in exchange for the historical keepsake via a tweet after nearly losing possession of the ball.
Brady is a part-owner in Sam Bankman-FTX Fried’s Trading Ltd and one of many crypto-friendly professional athletes.
FTX responded to Brady’s Tweet by saying they’re ready to make the transaction.
It’s not every day you’re handed the ball from Tom Brady’s 600th touchdown throw and asked to return it, and it’s not every day you’re given a Bitcoin, according to Bankman-Fried. “FTX was delighted to assist Tom in thanking this generous fan.”
FTX has quickly risen to become one of the world’s leading cryptocurrency exchanges since its inception barely two years ago. In a recent investment round, the company raised more than $420 million, bringing its valuation to $25 billion.
Brady hopes to auction the ball as an NFT after launching his own nonfungible token platform, Autograph.
Brady is not only the all-time leader in touchdown passes, but he is also the NFL season leader with 21 touchdown passes and only three interceptions through seven games.
He’s already off to one of the best beginnings of his illustrious career at the age of 44.
FTX buys Super Bowl ad slot to promote crypto to a TV audience of 92M
FTX, a cryptocurrency exchange, has earned an advertisement slot in one of America’s most watched events, the National Football League’s championship game, which will take place in February 2022.
According to a Bloomberg storey, FTX purchased an ad in this year’s Super Bowl LVI because of the large audience.
The Super Bowl is invariably the highest-rated television programme of the year, accounting for 28 of the top 30 broadcasts in the United States. History of television.
Sam Bankman-Fried, the founder and CEO of the FTX exchange, has prioritised football as part of a marketing plan that emphasises sports as the fastest-growing consumer base for crypto adoption. He stated, “
“There is no bigger, more mainstream event than the Super Bowl to deliver a message like that.”
Brands such as Hyundai, Pepsi, Coke, and Budweiser dropped out of this year’s Super Bowl in February, making room for emerging players who excelled during the pandemic and became first-time marketers for Super Bowl LV.
Fast casual and delivery services (Chipotle, DoorDash), e-commerce (Vroom), job-seeking services (Indeed, Fiverr), and even home improvement firms (Scotts Miracle-Gro, Hellmann’s) are just a few of them. With the rise in interest in crypto as many began to work from home during the epidemic, it’s only right that a crypto exchange be included in the lineup for the upcoming event.
Although neither the substance of the spot nor the amount paid by FTX have been revealed, NBC’s standard pricing for a Super Bowl ad next year is $6.5 million. A 30-second advertisement at the 2021 event cost $5.5 million.
During the Miami Heat’s season-opening game last week, the worldwide cryptocurrency exchange rewarded every fan in one section of FTX Arena $500 in cryptocurrency.
With a multi-year collaboration agreement with the NBA and WNBA as the only bitcoin platform partner, Coinbase has followed FTX’s footsteps into sport-related sponsorships.
