Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions

April 16, 2022 Bitcoin.com

Dozens of VIP backers invest $87M into crypto payment startup MoonPay

April 13, 2022 Coin Telegraph

Dozens of VIP backers invest M into crypto payment startup MoonPay

Ashton Kutcher, Gwyneth Paltrow, Justin Bieber and Snoop Dogg are among MoonPay's strategic investors that have brought the company's valuation to $3.4 billion.

In November 2021, MoonPay announced a $555 million Series A financing round that brought the crypto payment platform's valuation to $3.4 billion. On Wednesday, the fintech company revealed that $87 million of the total $555 million came collectively from more than 60 public figures and celebrities in the music, sports, media and entertainment industries.

While the Series A round was led by firms like Tiger Global Management and Coatue with participation from Blossom Capital, Thrive Capital, Paradigm and NEA, the following household names are also considered strategic investors: Gwyneth Paltrow, Maria Sharapova, Eva Longoria, Gal Gadot, Matthew McConaughey and Bruce Willis. Other "industry VIPs" like Ashton Kutcher, Justin Bieber, Snoop Dogg, Paris Hilton and Steve Aoki are all already deeply involved within the crypto and nonfungible token (NFT) space.

The company shared that this funding and the continued support from investors will enable it to accelerate its international expansion, grow the team and bring in new partners. MoonPay's longterm mission is to increase cryptocurrency access to the next 1 billion people by 2030.

Excited to transform the way creatives, artists & athletes approach

Art
Fan engagement
‍⚖️Intellectual property management

With the help of our new strategic investors. pic.twitter.com/sfeH1Hhibh
— MoonPay (@moonpay) April 13, 2022

MoonPay is best known for letting users purchase cryptocurrencies and NFTs with a credit or debit card, bank transfers or mobile wallets on Apple Pay and Google Pay. The investments have allowed the fintech startup to develop new products like NFT Checkout and MoonPay Concierge, a referral-based service for high-net-worth individuals that purchases crypto and NFTs on their behalf for a fee. For example, when actress Gwyneth Paltrow wanted a Bored Ape Yacht Club (BAYC) NFT she went to MoonPay and then thanked the company via Twitter.

Joined @BoredApeYC ready for the reveal? Thanks @moonpay concierge pic.twitter.com/gzm1JQEHHF
— Gwyneth Paltrow (@GwynethPaltrow) January 26, 2022

Paltrow, who is also the co-founder of Kinship Ventures, said in a statement that "Web3 is inspiring the entertainment industry, and commerce in general, to reimagine the way we create community, connect with fans, build value and manage intellectual property."

Rapper Post Malone even promoted MoonPay in his music video for “One Right Now” with The Weeknd by purchasing a BAYC NFT via the app onscreen. In addition to the music video, Malone recorded his purchase of two Bored Apes for a combined 160 Ether (ETH), worth roughly $682,000, in TikTok videos sponsored by MoonPay.

Apart from actors and artists, athletes like Paul George, a seven-time NBA All Star and Olympic Gold Medalist, recognized that “Crypto and NFTs will be key to maximizing the business of professional sports as we look ahead."

When asked how MoonPay plans to onboard the world to Web3, MoonPay's head of communications Justin Hamilton told Cointelegraph that the company is "Laser-focused on helping foster a healthy ecosystem of partners with reliable payment infrastructure." He added that the best way to foster adoption is by "Empowering creators to own their IP and have greater control on their creative output and financial support."

So far, 10 million customers across 160 countries have processed close to $3 billion in transactions via MoonPay through more than 250 partner sites, including Bitcoin.com and OpenSea, according to the company.

Cash App users can now invest paychecks into Bitcoin

April 7, 2022 Coin Telegraph

Coin Telegraph

The Bitcoin 2022 conference in Miami set the stage for the announcement followed by a panel with athletes Serena Williams, Odell Beckham Jr. and Aaron Rodgers.

At the Bitcoin 2022 conference in Miami on Thursday, Cash App announced a new feature for U.S. customers that will allow them to automatically invest a portion of their direct deposit paychecks into Bitcoin (BTC). The mobile payment service run by Jack Dorsey's Block, formerly known as Square, will enable Cash App Visa Cash Card users to opt into this "Paid in Bitcoin" feature at no cost.

Cash App’s Bitcoin product lead Miles Suter, who made the announcement Thursday, explained that any percentage from 1% to 100% of their direct deposits can be automatically converted into Bitcoin, and adjusted, if needed, at any time. Additional features include the option to round up to the nearest dollar any Cash Card transaction made on a Visa debit card connected to a Cash App balance and divert the spare change into BTC.

Recently, Cash App announced compatibility with the Bitcoin Lightning Network for BTC transfers. This enables U.S. Cash App users to make faster BTC transactions across mainstream businesses. Lightning Labs, the leading developer of the Lightning Network, closed a $70 million Series B funding round this week to further faster and cheaper Bitcoin and stablecoin transactions.

Following this announcement on the main stage of the Bitcoin conference, tennis champion Serena Williams the NFL’s Odell Beckham Jr. and Aaron Rodgers, sat down with Suter to discuss Bitcoin. Both Rodgers and Beckham Jr. were among a growing list of athletes that partnered with Cash App and opted to receive a portion of their salaries in Bitcoin last year.

*From left, Odell Beckham Jr., Serena Williams, Aaron Rodgers and Miles Suter.*

Williams, who founded her own venture capital firm called Serena Ventures, announced on stage that she is working with Cash App to advance Bitcoin adoption. She revealed she has been investing in Bitcoin for the past nine years and stated that there is "still so much that needs to be done" in terms of education around Web3 to "increase access and opportunity to invest."

US grassroots adoption: the Bitcoin Lightning party in Portland

March 31, 2022 Coin Telegraph

Bitcoin Community

A grassroots Bitcoin Lightning festival in Portland, U.S. demonstrated that the Lightning Network is the perfect companion for payments.

There is “grassroots evidence” that “America is adopting Bitcoin,” according to Clay Graham, founder of Rapaygo and a Bitcoin Lightning Network (LN) enthusiast.

At a Bitcoin Lightning festival held in Portland, United States over the weekend, the Bitcoin LN clocked more than $200 (four million Sats) in just three hours.

Hailed as “Puddle Town on Lightning Rails,” Portland’s Bitcoin Party was a space where “vendors, food carts, artists all accept Bitcoin.” Graham told Cointelegraph that there was also a “food cart pod” that acted as a “business attraction destination to Bitcoin fans who want a Bitcoin beach type experience.”

*The "mobile Bitcoin development lab for embedded research and development,". Source: Graham*

Fiat money was of course, not allowed, and popular Bitcoiner Dennis Porter MC’d at the festival. In this tweet he showed how easy it is to pay for goods using the LN:

I paid ZERO fees to accept #Bitcoin instantly for my shirts. Can Visa do that? pic.twitter.com/34haSgIB6G
— Dennis Porter (@Dennis_Porter_) March 28, 2022

Graham told Cointelegraph that the event was judged to be a success if “people could spend Bitcoin freely as they would fiat.” In total there were:

"50 people spending over 4M sats in 3 hours, 3 food carts and 7 vendors selling anything they want while even supporting use cases like 'tipping the DJ'."

Graham concluded that the LN made payments at the party a breeze: it was “easier than cash, all cheaper than cards and having tons of fun on a sunny day.”

*Dennis Porter MC'ing at the event in front of 'The Bitcoin Standard' books and Bitcoin t-shirts. Source: Twitter*

A near-instant layer-2 payment network built on top of the Bitcoin base chain, the LN is ideal for a party setting. Pubinno, the company behind the Lightning pour a pint tool was built with festivals in mind, while LNBits build open-source payments tools like split payments tools and offline solutions to make payments tech even smoother.

*The LN tech used at the festival, enabling fast print outs of receipts. Source: Twitter*

Tiago Vasconcelos, cofounder of Aceita Bitcoin and an LNBits FOSS contributor told Cointelegraph:

“With the LN the only thing you need is an internet connection! No card swipe hardware, no need for cash, no need for changing currency [even] if the venue is international and with lots of foreign people.”

Built on the LN, LNBits’ free open source solutions are closely competing with Visa and Mastercard. Vasconcelos adds that the “network fees are near to zero, or even zero, and ultimately are paid by the customer, not the merchant!” Plus, “using LN reduces the costs, and risks, of using Visa or Mastercard.”

Ultimately, some Bitcoiners are even keen for scammers to learn about the LN, and for Graham:

“The LN is so fast and transactions can clear as fast as faster than cards so both the buyer and seller don't feel that ‘where has my money gone’ feeling when they are just trying to have fun on a sunny day.”

*Snacks and trinkets featuring LN QR codes at the festival. Source: Graham*

Plus, it’s a payment network that supports “artists, people who made stuff with their own hands and small businesses.” And there’s more of a local connection to money–and more sovereignty–because for the Portland Bitcoin Party, “the nodes that routed payments for the LN are mostly made liquid in Portland.”

Following Portland's success, Graham added that “Kansas city has already reached out on how to boilerplate this party," using his company's solutions.

“Remember that within a year of Bitcoin beach el Salvador announced legal tender. Now we can have Bitcoin beach in every town.”

Alchemy Pay gains 77% after exchange listings and cross-chain integrations

February 9, 2022 Coin Telegraph

Coin Telegraph

A fresh round of exchange listings and a cross-chain launch on the Binance Smart Chain have boosted ACH price by 77%.

The cryptocurrency ecosystem has come a long way since the launch of Bitcoin (BTC) and in the last few years smart contracts have revolutionized the industry. With that said, there is still plenty of progress to be made when it comes to integrating blockchain technology to peer-to-peer, business to business and business to consumer payment systems.

Alchemy Pay aims to further the adoption of cryptocurrencies through its hybrid payments system and in the last week its ACH token gained 77% to trade at $0.0625 on Feb. 9.

*ACH/USDT 4-hour chart. Source: TradingView*

Three reasons for the uptick in ACH price include the cross-chain launch of ACH on the Binance Smart Chain (BSC), multiple new exchange listings that have helped expand access to the token and the integration of Alchemy Pay with multiple blockchain projects across the ecosystem.

ACH joins Binance Smart Chain

The most significant development for the Alchemy Pay protocol was its launch on the Binance Smart Chain at the end of January.

$ACH is live on the Binance Smart Chain!

ACH (BEP-20) staking campaign to earn $STORE announced soon!

Get your ACH ready (refer to comments):
1. Cross-chain via @MultichainOrg
2. Swap via @PancakeSwap

BSC Contract Address: 0xbc7d6b50616989655afd682fb42743507003056d pic.twitter.com/DLJNguOd9f
— Alchemy Pay | $ACH (@AlchemyPay) January 30, 2022

Aside from allowing for cheaper transactions for ACH users, the cross-chain integration also helped increase the pool of available investors in ACH through the listing of tokens on BSC-based decentralized exchanges like PancakeSwap.

Alchemy Pay also partnered with Bit.Store to conduct an airdrop of the project's STORE token as a way to reward community members and encourage future collaborations.

Fresh exchange listings tend to boost altcoin prices

A second factor helping boost the momentum in the price of ACH has been its listing on multiple exchanges, including Binance on Jan. 10.

#Binance will list @AlchemyPay $ACH and @Immutable $IMX https://t.co/smkEblDzRP
— Binance (@binance) January 10, 2022

Other notable exchange listings over the past month include WazirX, CoinEx Global, MEXC Global, ONUS Finance, Tokocrypto and XT Exchange.

Several exchanges, including Binance, have also introduced high-yielding staking products to help attract liquidity and Gate recently added a 3X leveraged ACH instrument.

Integrations across the crypto ecosystem

A third development that has solidified support for ACH has been the integration of Alchemy Pay with multiple blockchain networks and this should speed up the launch of fiat payments.

Networks and protocols that have integrated Alchemy Pay since mid-December include IoTeX, Avalanche, Polygon, Algorand, NIUM, MakerDAO and SimpleHold.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ACH on Feb. 8, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical 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. ACH price. Source:* *Cointelegraph Markets Pro*

As seen in the chart above, the VORTECS™ Score for ACH spiked into the green and reached a high of 74 on Feb. 8, around four hours before the price increased 55.5% over the next day.

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

Upcoming Apple iPhone feature to give merchants a way to accept crypto payments

February 9, 2022 Coin Telegraph

Apple

Apple Pay users will technically be able to use iPhone’s Tap to Pay feature to make crypto payments across mainstream merchants and businesses.

Apple announced plans to launch Tap to Pay for its iPhone, a new feature that effectively turns the smartphone into a point-of-sale device for businesses and merchants. So, what’s in it for crypto?

The announcement explains that with Tap to Pay, iPhone-owning merchants receive contactless payments by using their mobile devices as a point-of-sale machine thanks to the near-field communication technology, or NFC.

According to Apple, the soon-to-be-launched Tap to Pay feature will extend support to “Apple Pay, contactless credit and debit cards and other digital wallets.” It basically means that unless Apple places a direct barrier for it, customers who are using Coinbase Card, Crypto.com Visa Card or a similar payments card would be able to use their cryptocurrency holdings to make payments via Tap to Pay.

We just introduced Tap to Pay on iPhone, a great way for millions of small businesses to accept contactless payments right from their iPhone. It’s easy, secure, and will be coming out later this year. https://t.co/w6P6oS7grm
— Tim Cook (@tim_cook) February 9, 2022

While Apple has announced Stripe, an Irish-American fintech, as the first platform to offer the Tap to Pay feature on the iPhone, the company clarified that “additional payment platforms and apps will follow later this year.”

Back in August 2021, major crypto exchange Coinbase integrated with Apple Pay and Google Pay, allowing users to purchase crypto assets on its platform. As Cointelegraph reported, the move allowed United States-based customers to purchase crypto using bank-issued debit and credit cards via mainstream payments platform Apple Pay.

In June 2021, Coinbase launched Coinbase Card, enabling users to spend cryptocurrencies across mainstream avenues:

“Coinbase will automatically convert all cryptocurrency to US Dollars and transfer the funds to your Coinbase Card (less conversion fees) for use in purchases and ATM withdrawals.”

Following suit, crypto exchange Crypto.com launched a similar offering named Crypto.com Visa Card, which can be added to Apple Pay and other major digital wallets. Apple said in the announcement:

“Tap to Pay on iPhone will work with contactless credit and debit cards from leading payment networks, including American Express, Discover, Mastercard and Visa.”

Considering Coinbase’s capability to convert a user’s crypto holdings to fiat in real-time for payments, Apple Pay users will be able to use iPhone’s Tap to Pay feature to make crypto payments across mainstream merchants and businesses.

While Apple Pay will most likely not allow direct purchase of goods and services via Bitcoin (BTC), it will convert the user’s crypto holdings to match the dollar amount requested by the merchant’s point-of-sale machine to make the purchase.

Let’s also not forget that in November 2021, Apple CEO Tim Cook revealed the personal purchase of cryptocurrencies as “part of a diversified portfolio” while highlighting no immediate plans to accept crypto as a means of payment for Apple products.

Apple intends to roll out the Tap to Pay feature on Apple Stores, iPhone XS and later devices.

Cash App, a mobile payments service developed and owned by Twitter co-founder Jack Dorsey’s Block, announced compatibility with the Bitcoin Lightning Network for BTC transfers.

Lightning Network is now available on Cash App. It's the fastest, free way to pay anyone in bitcoin.

Buy tacos, tip your favorite Twitter comedian, or send a friend money abroad—anywhere that accepts lightning. pic.twitter.com/65TXSJ6yL6
— Cash App (@CashApp) February 7, 2022

With the launch of the new feature, Cash App users can make faster BTC transactions across mainstream businesses. As Cointelegraph reported, the company has made the feature available everywhere in the United States apart from New York.

PayPal stablecoin: What it could mean for payments

January 29, 2022 Coin Telegraph

Bitcoin Payments

PayPal has confirmed it is exploring a stablecoin. Here’s how experts see the potential impact of a PayPal Coin.

PayPal confirmed on Jan. 8 it is “exploring a stablecoin” that could be called PayPal Coin after a developer found evidence of such a stablecoin within the source code of the company’s iPhone app.

PayPal senior vice president of crypto and digital currencies Jose Fernandez da Ponte said at the time that if the company plans to move forward with the stablecoin, it will do so while working closely with relevant regulators — an approach that could help the fintech firm avoid the wrath of United States senators that doomed Meta’s Diem cryptocurrency project.

The company has clarified that the source code found on its iPhone app was developed in an internal hackathon. When Cointelegraph contacted PayPal to learn more, a spokesperson confirmed the previous reporting but did not offer any additional commentary.

The potential impact of a PayPal stablecoin in payments overall and in the cryptocurrency industry is hard to estimate, and while some experts see the firm’s move as an extremely positive one for the space, others believe the stablecoin would be more of the same.

Could PayPal Coin normalize crypto payments?

It’s clear that a traditional finance company moving into the cryptocurrency sector and launching its own stablecoin differs from a crypto-native firm launching a stablecoin. Traditional finance companies serve users who aren’t necessarily already dealing with cryptocurrency wallets or the volatility in this space.

PayPal itself has well over 350 million active users and already lets users in the U.S. and United Kingdom buy, sell and hold Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH) and Litecoin (LTC) while enabling payments in these crypto assets. While it’s unclear how many of PayPal’s users have paid with cryptocurrency, it’s well-known that stablecoins are mostly a tool used to trade and take advantage of opportunities in the decentralized finance space.

PayPal further pushing into the cryptocurrency industry through the launch of a stablecoin could see other traditional banking and payments companies explore blockchain technology more, according to Marwan Forzley, CEO of online payments platform Veem. Forzley told Cointelegraph that stablecoins will “likely become a part of the global payment scheme,” as moving money in a secure environment with on- and off-ramps with different applications “is a major need of small businesses.” Forzley added:

“PayPal Coin could fuel general interest in payments overall. Consumers and small businesses alike are looking for a safe and reliable alternative to traditional currencies and payment networks.”

Max Galka, CEO of blockchain search engine Elementus, seemed to agree with Forzley’s assessment, noting that with globally recognized platforms such as PayPal supporting cryptocurrencies, stablecoins are immediately put in a “trusted realm for a large swath of the population.”

To Galka, PayPal launching its own stablecoin would “definitely open up cryptocurrency to more people” who “have not had the inclination to really figure out this niche space.” Galka told Cointelegraph:

“Right now, there aren’t that many well-established, trusted organizations in this space where trust is such a critical component. PayPal would be one of the first major financial companies to embrace crypto.”

He said it’s a “very natural fit for PayPal to develop a stablecoin,” as the move puts the firm “squarely on the map as a cryptocurrency company,” which could boost its other cryptocurrency offerings, while the trust people have in the firm could see PayPal Coin “serve a lot of additional purposes from what traditional stablecoins can offer by using that [trust] as their payment rails.”

Arbel Arif, founder and CEO of crypto marketplace Shopping.io, told Cointelegraph he applauds PayPal’s move into the crypto sectors and added that having “big players enhancing the e-commerce crypto transactions brings us a step closer to the new era of commercial trading.”

Speaking to Cointelegraph Tim Frost, founder and CEO of wealth management platform Yield App, said that cryptocurrency payments are “finding their way into the mainstream” as a “number of companies now allow digital asset owners to pay with digital currencies using standard Visa or Mastercard.”

To Frost, whether or not PayPal launching its own stablecoin would jumpstart a transition to a more cryptocurrency payment-focused world isn’t clear, although he does believe it has the potential to do so.

Not everyone agreed that PayPal Coin could be revolutionary, however. Speaking to Cointelegraph, Rytis Bieliauskas, chief technology officer of cryptocurrency payment gateway CoinGate, said he does not see how a PayPal stablecoin is “fundamentally different from what PayPal already does,” assuming it’s “centrally controlled” and has its value guaranteed by the firm.

Bieliauskas added that it’s “interesting to see that PayPal wishes to use crypto as a positive PR move,” which, to him, suggests the public now sees cryptocurrencies as something positive, rather than negative.

Overcoming regulatory challenges

While PayPal made it clear it would be working with relevant regulators on its stablecoin if and when it moves forward with the project, it will still have to overcome regulatory challenges because of the scope of its business.

That’s according to Eli Taranto, chief business development officer at EQIBank — a licensed digital bank working with corporations and high-net-worth individuals. Taranto told Cointelegraph that PayPal’s geographical footprint will see it face “worldwide regulatory issues” when it comes to crypto, which will “be quite interesting and a necessary challenge.”

To Taranto, PayPal’s revenue coming from transactions means it will “have to connect as many tokens and chains as possible, building faster, better, fully automated cross-chain instruments along the way.” He added:

“This may eventually serve as a catalyst for mass adaptation of crypto and give the crypto processing industry a boost, as venture capital will begin to flow to this relatively new sector.”

Taranto said that if PayPal manages to appease regulators, it will affect other institutions, which will “see it as a sign that a path to global regulatory compliance has been created.”

Stablecoin issuers have notably not only faced scrutiny from regulators, as the cryptocurrency community often pressures them to be as transparent as possible about the backing of their stablecoins. Launching a stablecoin will see PayPal deal with heightened scrutiny, so it’s worth asking, What’s in it for them?

How PayPal benefits from a stablecoin

Ultimately, PayPal issuing its own stablecoin is an improvement to its bottom line. Caleb Silver, editor-in-chief at financial information portal Investopedia, pointed out that in the third quarter of 2021, transaction-related expenses cost PayPal $2.7 billion according to its most recent quarterly filing.

The use of a high transaction throughput blockchain like Solana could see PayPal save a very significant amount in transaction-related expenses. The firm currently does not allow users to buy or sell Solana (SOL) on its platform, and on which blockchain it would deploy its stablecoin is unclear.

Speaking to Cointelegraph, Jerald David, president of digital asset investment firm Arca, said PayPal is “uniquely positioned to adopt cryptocurrencies due to their captive client audience and because this potential product offering is an enhancement to their existing core business.” David added:

“By marrying the efficiencies of blockchain technology with their existing business model, they can help instill and solidify the confidence of individuals and small businesses in the digital asset industry.”

To Arca’s president, it’s likely that if people are going to end up adopting digital assets one day, they’ll be doing so through a third party that has earned their trust, just like PayPal.

What’s known about PayPal’s stablecoin plans is very little. Steve Moser, the developer who found PayPal Coin’s code on the company’s iPhone app, revealed later on that PayPal had references to stablecoins linked to the pound and euro within the application, suggesting PayPal would launch various stablecoins linked to different fiat currencies.

What if PayPal Coin is something separate from Paypal’s USD stable coin? What if PayPal was also working on stable coins for the Pound and the Euro? #PayPalCoin $PYPL $PYPLUSD https://t.co/vyBmMCmp7f pic.twitter.com/qRJ0IrbBBJ
— Steve Moser (@SteveMoser) January 10, 2022

Shortly after PayPal Coin started making headlines, however, PayPal removed images for its euro- and pound-linked stablecoins. A reference to Neo within the code stayed, suggesting it may also be on the firm’s radar.

The real impact a PayPal Coin may have will depend on the company’s implementation of the stablecoin. While it has the potential to ingrain crypto into traditional payment systems, it also has the potential to be “just another” stablecoin. The best-case scenario is seemingly one crypto enthusiasts dreamed about years ago, before Bitcoin traded in five-figure territory, which shows just how far we’ve come in only a few years.

Altcoins surge even as Bitcoin and Ethereum price fall toward key support levels

November 5, 2021 Coin Telegraph

Bitcoin Price

Altcoins like XYO, CRO and WNXM are capitalizing on BTC and ETH’s consolidation by moving higher.

Price action in the crypto market has not been for the faint of heart over the past 48-hours and it's clear that volatility following Bitcoin (BTC) and Ether’s (ETH) breakouts to new all-time highs.

While the top two cryptocurrencies fight to hold key support levels, the altcoin market has seen a handful of tokens post double-digit gains on Nov. 5 and Cointelegraph Markets Pro’s altseason indicator suggests the current market conditions line up with previous altseason price moves.

*Top 7 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 XYO Network (XYO), Crypto.com Coin (CRO) and Wrapped NXM (WNXM).

XYO lists on Crypto.com

The XYO Network is a blockchain-based geospatial oracle network that taps into decentralized devices that anonymously collect, validate and record data on the XYO blockchain.

According to data from Cointelegraph Markets Pro, market conditions for XYO have been favorable for some time.

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

As seen in the chart above, the VORTECS™ Score for XYO began to pick up on Nov. 2 and reached a high of 77 around four hours before the price surged 103% over the next two days.

The spike in price of XYO comes as the token was listed on the Crypto.com app and a liquidity mining pool was launced on Gate where depositors can earn a 543.22% return on their investment.

CRO benefits from the Coinbase bump

CRO is the native token of the Crypto.com ecosystem and users can stake CRO alongside other cryptocurrencies on its app to earn rewards, as well and utilize their holdings to make everyday purchases via the Crypto.com Pay mobile payments app.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CRO on Nov. 3, prior to the recent price rise.

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

As seen in the chart above, the VORTECS™ Score for CRO began to pick up on Nov. 3 and reached a high of 76 around two hours before the price increased 64% over the next two days.

The strengthening momentum for CRO comes following the token's Nov. 3 listing on Coinbase and the signing of a multi-year contract with esports tournament host Twitch Rivals.

Nexus Mutual launches a new Shield campaign

WNXM is the wrapped version of the NXM governance token for the Nexus Mutual protocol. Nexus Mutual is a decentralized insurance protocol on the Ethereum network that offers users the ability to take out cover on smart contracts through the use of its native NXM token.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CRO on Nov. 4, prior to the recent price rise.

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

As seen in the chart above, the VORTECS™ Score for CRO began to pick up on Nov. 3 and reached a high of 74 on Nov. 4, around one hour before the price spiked 47% over the next day.

The jump in the price of WNXM comes following the launch of a new shield mining campaign for the Premia Finance (PREMIA) project and the platform’s progress toward launching Nexus V2 which will enable the fund to pay out on partial claims.

The overall cryptocurrency market cap now stands at $2.702 trillion and Bitcoin’s dominance rate is 42.6%.

Stablecoin launch and NFT integration back COTI’s rise to a new all-time high

September 28, 2021 Coin Telegraph

Altcoin Watch

COTI price rallied to a new high after a series of partnerships, exchange listings and a pivot toward NFTs lure new investors to the project.

The blockchain ecosystem has evolved significantly over the past decade as smart contract capabilities have moved the industry from being a simple medium of exchange to a bustling ecosystem full of decentralized finance (DeFi) and nonfungible tokens (NFT).

One project that has benefited from the increased capabilities of blockchain technology and the recent launch of smart contracts on Cardano is COTI (COTI), an enterprise-grade fintech platform focused on helping organizations create their own payment solutions and digitize any form of currency as a way to facilitate decentralized payments.

Data from Cointelegraph Markets Pro and TradingView shows that since bottoming out at a low of $0.0884 on July 20, the price of COTI has rallied 652% to reach a new all-time high at $0.6665 on Sept. 25 as its 24-hour trading volume surged to a record $917 million.

*COTI/USDT 4-hour chart. Source: TradingView*

Three reasons for the steady rally in COTI include its launch of the Djed stablecoin on the Cardano network, a series of exchange listings and the launch of COTI’s NFT game which appears to be bringing new users to its ecosystem.

COTI launches a stablecoin on Cardano

COTI recently announced that its platform would be the official issuer of the Djed stablecoin on the Cardano network and the price continued its upward move on that news.

Stablecoins have emerged as one of the key components of the cryptocurrency ecosystem as a whole and for decentralized finance, in particular, because they provide sufficient liquidity for the market and create a safe haven during times of volatility.

Aside from its DeFi applications, the Djed can also be used to pay transaction fees on the Cardano network as a way to help prevent high gas fees and make the cost of conducting transactions more predictable.

New exchange listings boost trading volume

A second factor behind COTI's price growth is the token’s listing on several large exchanges, including Coinbase, the most active U.S.-based cryptocurrency exchange.

This announcement kicked off a series of exchange listings for COTI, including being added to Huobi, Crypto.com, the decentralized exchange 1inch and Celsius, which is an all-in-one banking and financial services platform.

To go along with these exchange listings, the team at COTI also revealed that it has started the process of inviting beta testers to apply for the COTI bank account and debit card for final testing before the full launch of the protocol’s banking solution.

NFT opportunities encourage invest hodling

A third factor helping to boost the value and activity within the COTI ecosystem is the project’s ongoing NFT activities, including the COTI NFT Game and the network’s future plan to help support NFTs on Cardano.

NFTs have been one of the hottest sectors in the cryptocurrency ecosystem throughout 2021 and protocols that offer a lower fee environment have seen increased activity in recent months.

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

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

As seen in the chart above, the VORTECS™ Score for COTI climbed into the green zone on Sept. 21 and reached a high of 77 around ten hours before the price increased 135% over the next five days.

Digital payment ecosystem MobileCoin raises $66M

August 18, 2021 Coin Telegraph

Digital payment ecosystem MobileCoin raises M

Coin Telegraph

Venture capital continues to back promising blockchain and crypto plays. Some of the industry’s biggest investors participated in MobileCoin’s Series B.

MobileCoin, a crypto-focused digital payment ecosystem, announced Wednesday that it has concluded a $66 million funding round as part of a wider effort to bring more of its products and services to market.

The Series B had participation from several leading venture funds from within the blockchain and cryptocurrency industry, including Alameda Research, BlockTower Capital and Coinbase Ventures. Berggruen Holdings, General Catalyst, Vy Capital and TIME Ventures also participated. Several entrepreneurs and investors also contributed to the funding round.

MobileCoin said the funding will be used to further develop its core crypto offerings, including MOBot, which is described as the “first cryptocurrency chatbot payment system.” The company also plans to expand its merchant services and introduce a new dollar-pegged stablecoin.

While many people view cryptocurrencies as an alternative asset class, the technology is considered a major catalyst for enabling seamless transactions on a global scale. The concept of peer-to-peer payments, for example, was an important part of Satoshi Nakamoto’s now famous Bitcoin (BTC) whitepaper. Today, several companies and protocols are working towards unlocking the value of crypto-based payment systems.

Companies that have long dominated the payment arena, such as Mastercard and PayPal, have already begun accepting cryptocurrency payments for their customers. During Mastercard’s second-quarter earnings call in August, CEO Michael Miebach said his company has to be in the cryptocurrency space “because people are looking for answers.”

As Cointelegraph reported, Visa has also reaffirmed its commitment to building crypto payment onramps. The payment giant is ultra bullish on stablecoins for their ability to transform global commerce.

Mobile Payments