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Square, Paradigm, Fidelity, and Coinbase Establish Crypto Council to Lobby Regulators

The new cryptocurrency council aims to serve as the growing industry’s voice to advocate for the economic and social benefits of crypto assets and related technologies.

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Crypto venture capital firm Paradigm, Square, Fidelity Investments, and Coinbase crypto exchange have established a new cryptocurrency council to lobby policymakers to support the rapidly growing crypto industry.

The aim of the newly formed trade group “The Crypto Council for Innovation” is to ensure that policymakers understand the significance of the crypto innovation and develop favourable regulations that would enable the industry to thrive.

“The Crypto Council for Innovation” aims to shape the manner in which crypto assets are regulated and it seeks to demonstrate the “transformational promise of crypto and communicate its benefits to policymakers, regulators, and people around the globe.”

Fred Ehrsam, the co-founder of Paradigm investment firm told The Wall Street Journal that “cryptocurrency is at mainstream inflection point.”

He further added:

“It’s in its very early stages and, much like the internet (once was), it’s very fragile while it’s in that stage. It’s challenging because policy makers want to balance risk and reward, and even people who spend time in this space would struggle to predict where this will go in the coming decade. It was very hard to say where the internet was going to go.”

The council is planning to assemble a board of representatives from each of the four initial members. The council will also create an executive team.

Cryptocurrencies Helping Global Economy

The formation of the crypto council comes at a time when prices of several cryptocurrencies have risen, attracting interest from mainstream investors as well as brokers and banks which serve them. At the beginning of this year, the total market capitalization of Bitcoin climbed to $1 trillion for the first time.

Cryptocurrency is a new industry as many people are still not sold on the market’s future. Crypto evangelists claim that crypto assets and blockchain technology have the capacity for job creation and extension of financial services to consumers living anywhere across the globe at little to no cost.

Cryptocurrencies have the potential to enable economic and social growth throughout the world, including in developing nations, by providing easier access to capital and financial services. Therefore, regulators and policymakers across the globe will play a prominent role in shaping the future of crypto assets.

Image source: Shutterstock

Fred Ehrsam, the co-founder of Paradigm investment firm told The Wall Street Journal that “cryptocurrency is at mainstream inflection point.”

Source: https://blockchain.news/news/squareparadigm-fidelity-coinbase-establish-crypto-council-lobby-regulators

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ChangeNOW Announces the Release of Its NOW Wallet

High speed crypto exchange platform ChangeNOW has announced the launch of its own non-custodial NOW Wallet

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High speed crypto exchange platform ChangeNOW has announced the launch of its own non-custodial NOW Wallet. The wallet is available in beta version on iOS and Android devices and offers users the ability to make transactions in over 20,000 currency pairs regardless of geolocation.

Quick and easy to use crypto exchange platform ChangeNOW has unveiled NOW Wallet, a non-custodial wallet that brings all the convenience and security of the ChangeNOW platform to the tips of your fingers. Culling insights into optimal exchange performance and unmet user needs from the ChangeNOW team’s wealth of experience in the crypto space, the wallet was developed with the goal of providing users with the most convenient and useful exchange experience on the market.

As of press time, NOW Wallet is already up and available in the App Store and on Google Play. There is no registration required for the wallet so users can download it and immediately start transacting. NOW Wallet is the newest addition to ChangeNOW’s stable of crypto products, joining the NOW Tracker app, NOW Payments, NOW Nodes, the ChangeNOW App and more.

NOW Wallet: a new, comfortable way to trade

NOW Wallet is a secure non-custodial wallet that allows users to quickly and conveniently trade over 20,000 cryptocurrency pairs. As with the desktop version of ChangeNOW, NOW Wallet supports bank account and credit card integration. Users can buy and sell cryptocurrency hassle-free for fiat linking their credit cards or bank accounts. Security is always a priority with ChangeNOW and NOW Wallet is no exception. As a non-custodial wallet, NOW Wallet gives users complete control over their funds and exchange transactions are protected by ChangeNOW’s stalwart security measures.

Users of NOW Wallet are privy to a refined in-app experience that has been carefully calibrated to maximize ease of use and comfort, while also making no privacy or security concessions. NOW Wallet supports all the major cryptocurrencies, including BTC, DOGE, ETH, ADA and BNB, as well as all ERC-20 and BEP2-based tokens. As a community-first platform, ChangeNOW encourages existing and potential users to share what other coins they would like to be supported as the platform plans to add additional coins to the roster over the coming weeks.

Beyond the intuitive in-app experience, NOW Wallet makes it possible for users to make transactions with anyone, at any time, and from any location. There are no geographical restrictions to use and there are no hidden fees for users to worry about. ChangeNOW has partnered up with payment providers Guardarian and Simplex to make fiat to crypto transactions a cinch. Thanks to that collaboration ChangeNOW users can buy crypto with MasterCard or Visa cards.

Regarding the launch of the new wallet, Mike Ermolaev, Head of PR at ChangeNOW, had this to say:

“NOW Wallet is something that we’ve been working on for quite some time now, and we are ready to present the beta version of the product. Key to the process was making sure that the final product was going to be something that the average user would find convenient and useful. In order to achieve that, we brought our community in on the process and tailored the wallet to their wants and needs. We are proud of the final product and really believe that our existing users and new users are going to love it.”

Community-Inspired Wallet

The ChangeNOW Team sought to make NOW Wallet a crystallization of what the average crypto user would want in a wallet and exchange experience. To do that they did extensive research and invited their own active community to take part in the formation of the wallet by providing their feedback. Though the wallet is already available, the ChangeNOW team is still inviting feedback from the community on how to improve the product. Interested users can visit the NOW Wallet page to learn how they can help upgrade features of the wallet and improve the user experience.

In addition, all users are invited to request coins be added to the wallet via the ChangeNOW Twitter page. The next poll to see what new coins will be added to the wallet is set to take place shortly after the release.

Friendly reminder: since NOW Wallet is non-custodial, the user is responsible for the access to their funds. Please, don’t forget your seed phrase.

About ChangeNOW

ChangeNOW is a limitless crypto exchange offering fast crypto swaps with no hidden fees. It remains one of the biggest proponents for crypto adoption among mainstream audiences and aims to provide a safe, private, and user-friendly environment as part of a larger string of efforts to push the crypto industry into the future.

Transacting on ChangeNOW is fast, cheap, and transparent; you can swap crypto not only through the ChangeNOW website, but also via the platform’s apps for iOS and Android devices, available on the AppStore and Google Play.

Image source: changenow.io/blog

Source: https://blockchain.news/analysis/changenow-announces-the-release-of-its-now-wallet

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Crypto Market Roundup: Top Earners and Losers for Today

Cardano and The Graph are the top gainers today, while the performance of Shiba Inu and IoTex hit the worst to become the biggest losers today.

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The selling pressure in the global crypto market was stumped on Friday as several coins began paring off their losses from the previous day.

Bitcoin’s market strides were visible as the largest cryptocurrency surged 1.72% to $46,146.24 at the time of writing. Ethereum (ETH) is also favoured by the bulls, inching a 3.04% gain to $3,237.66, according to CoinMarketCap.

Amidst the broader rise in price, here are the top gainers and losers for today, August 13.

Top Gainers

The Graph (GRT) is leading the altcoin surge today after the coin’s buyers pushed the price to $0.9413, atop an 18.30% gain. At this pace, The Graph is on track to break the $1 resistance level and journey down toward its 90-day high of $1.42. The Graph’s use case permits an increased embrace. It plays a role as an indexing protocol for querying data for networks like Ethereum and IPFS, supporting many applications in DeFi and the broader Web3 ecosystem.

Meanwhile, Cardano (ADA) has also shifted its price to its highest price gains of all time, surging above the $2 psychological level for the first time in 3 months. With several test nets deployed, the coin has enjoyed increased sentiment from buyers as the broader digital currency ecosystem prepares for the arrival of the Alonzo upgrade that will aid the emergence of smart contracts and DApps on the Cardano blockchain. The token has been tagged as undervalued. However, we may begin to see the coin’s true worth come to life with the new upgrade.

Top Losers

The majority of the tokens are paring off their losses. However, meme token Shiba Inu (SHIB) is the biggest loser amongst the altcoins topping the chart after inking a 0.50% slip in price to $0.00000795. IoTex (IOTX) was down 3.36% to $0.1102 during the intraday.

The momentum in the market may drive in such buying volatility that will stir these coins off the red zones. The global crypto market is currently on track to re-register a $2 trillion market cap to cover the weekend.

Image source: Shutterstock

The Graph (GRT) is leading the altcoin surge today after the coin’s buyers pushed the price to $0.9413, atop an 18.30% gain. At this pace, The Graph is on track to break the $1 resistance level and journey down toward its 90-day high of $1.42. The Graph’s use case permits an increased embrace. It plays a role as an indexing protocol for querying data for networks like Ethereum and IPFS, supporting many applications in DeFi and the broader Web3 ecosystem.

Source: https://blockchain.news/analysis/crypto-market-roundup-top-earners-and-losers-today

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Ethereum is Expected to Undergo a 90% Daily Emission Reduction Following ETH 2.0 Upgrade

Market analyst Lark Davis believes that Ethereum 2.0 upgrade will prompt a 90% daily emission reduction from 12,800 to 1,280.

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Ethereum (ETH) was up by 9.72% in the past week to breach the psychological price of $2K during intraday trading. ETH’s price stood at $2,056 as the second-largest cryptocurrency continues to gain momentum.

Market analyst Lark Davis believes that the upgrade of Ethereum 2.0 will prompt a 90% daily emission reduction from 12,800 to 1,280. He explained:

“The other wildly important aspect of The Merger is that ETH will undergo a 90% reduction in daily emission. Basically from 12,800 a day to 1,280 a day. Yearly inflation from 4.3% down to 0.43%. This is equivalent to 3 Bitcoin halvings, and is only months away.”

Ethereum 2.0, also known as the Beacon Chain, was launched in December 2020 and was regarded as a game-changer that seeks to transit the current proof-of-work (POW) consensus mechanism to a proof-of-stake (POS) framework.

Davis also noted that Ethereum would experience “Triple Halving” as part of the ETH 2.0 upgrade, a highly significant economic event for the asset’s price in the coming years.

Ethereum whales cumulatively hold 60.52 million ETH

According to on-chain metrics provider Santiment:

“Ethereum whales that hold between 10k and 1 million ETH in their respective wallets now own a cumulative total of 60.52m coins. This is the highest amount held by this tier since in 5 weeks, and represents a 1.65million ETH accumulation in the past 6 days.”

Image

Therefore, ETH whales continue investing in this asset, which indicates high confidence levels.

Ethereum has been making headlines based on its notable strides. For instance, ETH has had an impressive return on investment (ROI) of 171% this year compared to tech stocks like Microsoft, Facebook, and Apple. Furthermore, Davis had previously noted that Ethereum was settling three times more value on-chain than Bitcoin daily.

Image source: Shutterstock

“The other wildly important aspect of The Merger is that ETH will undergo a 90% reduction in daily emission. Basically from 12,800 a day to 1,280 a day. Yearly inflation from 4.3% down to 0.43%. This is equivalent to 3 Bitcoin halvings, and is only months away.”

Source: https://blockchain.news/analysis/ethereum-is-expected-undergo-a-90-percent-daily-emission-reduction-following-eth-2.0-upgrade

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