BITCOIN

PRESS RELEASE. The world of e-commerce is rapidly transitioning to that of social commerce, where demand for products is driven by videos and posts from social media. Both brands and their consumers can benefit from advertising products through social media, with stronger sales and valuable insights into product use cases, which further encourage online shopping. Video commerce already accounts for 10% of Chinese e-commerce – a trend that is already making its way to the West. That’s why we are thrilled to be hosting the seed sale of Meloot ($LADA) on the KICK.IO launchpad . Meloot is the first decentralized e-commerce platform on the Cardano blockchain, powered by its native utility token $LADA. You can think of Meloot as Amazon driven by TikTok, where e-commerce capabilities are utilised in synergy with video-based shopping, and Meloot algorithm connects people to the brands they like through an interactive medium. Meloot offers a platform for the sale and purchase of physical

Nike has filed a lawsuit against an online reseller using unauthorized Nike shoe images in non-fungible tokens (NFTs). “Those unsanctioned products are likely to confuse consumers, create a false association between those products and Nike, and dilute Nike’s famous trademarks,” Nike alleges. Nike Sues Online Retailer Over NFT Sales Sneaker giant Nike filed a lawsuit against online reseller Stockx in New York federal court last week for selling non-fungible tokens (NFTs) using unauthorized images of Nike shoes. Detroit-based Stockx, valued at more than $3.8 billion last year, began selling NFTs last month, Nike detailed, adding that the reseller has sold over 500 unauthorized Nike-branded NFTs. The sneaker giant further noted that Stockx told buyers they would be able to redeem the tokens for physical versions of the shoes “in the near future.” Nike claims that by minting “Vault” NFTs based mostly on popular Nike sneakers, Stockx is infringing upon and diluting its trademarks. Acc

U.S. Senator Ted Cruz has declared his bitcoin purchase worth up to $50,000. “I’m also particularly proud that my home state, Texas, is becoming an oasis for the blockchain community, for bitcoin miners, for innovators and entrepreneurs in the crypto world,” said the senator. Senator Ted Cruz Declares Bitcoin Purchase U.S. Senator Ted Cruz has bought the bitcoin dip. A Periodic Transaction Report filed on Friday shows that the senator from Texas personally bought bitcoin worth between $15,001 and $50,000 on Jan 25. On the date of the transaction, the price of bitcoin was hovering around $37,000 based on data from Bitcoin.com Markets. At the time of writing, the price of bitcoin is $41,708. BTC is up 10.5% over the past seven days but down 4.2% over the last 30 days. The senator from Texas has long been a vocal bitcoin proponent. In June last year, he said that people are flocking to BTC because the U.S. is on the verge of an inflation crisis. In November last year, he introd

Google has shared some details of its web3 and blockchain strategies. “As a company, we are looking at how we might contribute to the ecosystem and add value,” said Sundar Pichai, the CEO of Google and its parent company, Alphabet Inc. Google’s Web3 and Blockchain Strategies The CEO of Alphabet Inc. and its subsidiary Google, Sundar Pichai, shared some information on the group’s blockchain strategy during the company’s Q4 earnings call last week. Pichai was asked about his view on web3 and Alphabet’s approach to the industry. “Anytime there is innovation, I find it exciting,” the Google CEO began, elaborating: On web3, we are definitely looking at blockchain, and such an interesting and powerful technology with broad applications, so much broader, again, than any one application. “As a company, we are looking at how we might contribute to the ecosystem and add value,” he continued, adding: Just one example, our Cloud team is looking at how they can support our customers’ need

A few days ago, Dave Portnoy returned to Bitcoin with an almost $1.1M buy of 29.5 BTC. Today, he thinks “you are an idiot if it’s not part of your portfolio.” The Barstool Sports owner and main personality might have a point, but the whole situation is still funny. Especially, considering everything Portnoy has said about Bitcoin over the years.  Related Reading | Barstool’s Dave Portnoy Wants to Buy Bitcoin – Asks Winklevoss Twins to Teach Him The born-again Bitcoiner visited Stuart Varney in his “Varney & Co.” show at the FOX Business Network. This is what happened: Always fun joining @Varneyco to talk Bitcoin, $Penn and Brady pic.twitter.com/NNUV3ALlpW — Dave Portnoy (@stoolpresidente) February 4, 2022 What Did Dave Portnoy Tell Stuart Varney About Bitcoin? In 2020, the Winklevoss twins helped Portnoy to make his first Bitcoin investment. There was a small dip, and Portnoy panicked and sold it all. The community mocked him, and he went on to make questionable investments, b

Despite the recent downfall of the crypto market, the projection of Bitcoin (BTC) to cross the $100k threshold remains seen as a matter of time. Back in December, Bloomberg Intelligence indicated that the anticipated mark would happen eventually “due to the economic basics of increasing demand vs. decreasing supply,” and new data shed some light on that idea. Bitcoin Vs. Crude Oil In a new Bloomberg Intelligence report, data shows trends that could favor Bitcoin and Ethereum prices. The report noted that “Representing advancing technology, Bitcoin is gaining traction as a benchmark global digital asset, while oil is being replaced by decarbonization and electrification.” Lack of supply elasticity is an attribute shared by Bitcoin and Ethereum that “sets them apart from commodities”. For commodities, “rising prices thwart demand and increase supply”, but the top cryptocurrencies might tell a different story. “Increasing Bitcoin and Ethereum demand, and adoption vs. diminishing supp

The Ascent Award has recognized KuCoin as the best cryptocurrency application for enthusiasts in 2022, praising the cryptocurrency exchange for low commissions, high-security measures, transparency, and customer orientation in operations. The mobile application of the global KuCoin cryptocurrency exchange has been recognized as the best application for enthusiasts by an annual survey conducted by The Ascent. Among the other cryptocurrency exchanges noted by The Ascent were Gemini, Coinbase, Binance.US, Crypto.com and FTX, all of which were noted for outstanding achievements in ensuring high accessibility and convenience to digital assets. The Ascent has highlighted KuCoin’s significant user base growth and trading volumes, which have exceeded $1 trillion in cumulative terms in 2021, and $3 billion in daily turnover for Futures and Spot Trading. Such recognition comes weeks after KuCoin announced that it surpassed the 10 million users threshold in late 2021. The statistics place KuCoi

Ethereum Classic had experienced a sharp fall in prices on the 17th January, however, at press time ETC was seen recovering. Over the last 24 hours, ETC had gained close to 7% and was seen trading at $28. In the past week, ETC logged gains of about 17% and had broken past the $25 price mark. ETC struggled near the aforementioned price level for the past few weeks. However, with close to 17% gains in the past seven days ETC has now managed to break the downtrend. Bitcoin was bordering $39k at the time of writing. As Bitcoin had climbed up on its chart, major altcoins followed the same price movement. Price Analysis: ETC/USD Four Hour Chart Source: TradingView ETC/USD At the time of writing, ETC was priced at $28. In the past trading sessions, the coin was seen oscillating between $25 and $27 price levels respectively. Immediate resistance for ETC was at $30.31 and additional resistance marks for the coin stood at $34.22 and then at $38.68. On the flipside, ETC was resting in the supp

On-chain data shows the Bitcoin NVT ratio currently has values that would suggest the crypto is undervalued at the moment. Bitcoin NVT Ratio Is Moving On A Downtrend Right Now As pointed by an analyst in a CryptoQuant post, the BTC NVT ratio currently has low values that would mean the coin is undervalued right now. The “Network Value to Transactions” (or NVT in short) is an indicator that’s defined as the ratio between the Bitcoin market cap and the transacted volume during a specific time period. Basically, the metric evaluates the value of the crypto using its transaction volume. When the NVT value is high, it means BTC is currently overvalued compared to the ability to transact coins. Such a trend can be bearish for the crypto On the other hand, when the value of the the indicator is low, it implies Bitcoin may currently be undervalued at the moment. This kind of trend can be bullish for the price of the crypto. Related Reading | Bitcoin Market Dominance Hit Highest Since Nove

Private individuals mining cryptocurrency may expect a higher tax burden than businesses involved in the industry, a high-ranking member of the Russian parliament has indicated. While the extraction of digital currencies is yet to be regulated in Russia, authorities lean towards recognizing it as an economic activity, which will allow the government to tax mining profits. Profits from Cryptocurrency Mining in Russia May Be Taxed Like Those From Securities The personal income tax levy for individual crypto miners withdrawing their profits into the traditional financial system cannot be less than 15%, the head of the Industry Committee at the State Duma , Vladimir Gutenev, has recently stated. The lawmaker added that the minimum tax rate for companies or sole traders engaged in the minting of digital currencies as a business activity should be at least 6%. Quoted by the business news portal Finmarket, Gutenev explained at a press conference that if cryptocurrencies are to be treated