bookmark_borderBitcoin on ‘inevitable path’ to reach gold’s market cap – Mike Novogratz

Galaxy Digital’s billionaire CEO told CNBC he’s shocked at the speed of cryptocurrency adoption.

Galaxy Digital CEO Mike Novogratz believes Bitcoin (BTC) is on track to meet or exceed gold’s market capitalization amid a rapid wave of retail and institutional adoption of the digital asset. 

In an interview with CNBC’s Squawk Box, Novogratz said cryptocurrency “adoption’s happening much faster than I predicted,” adding that “it’s shocking to me how fast people are moving into the system.”

Novogratz, who has been involved in Bitcoin since 2013 when the digital currency was valued at around $100, explained that his previous BTC price target of $60,000 was too conservative. The initial target was based on Bitcoin achieving roughly 10% of gold’s market capitalization.

“At the beginning of the year, I thought $60,000 was my target because that would have been 10% of gold,” he said. “But I told myself and our investors that once it gets to 10% we’re all going to say it’s going to 20%, and then when it gets to 20% it’s going to go to 50% and then 100%.”

Bitcoin’s emergence as “digital gold” has strengthened Novogratz’s conviction that the cryptocurrency will eventually reach or exceed bullion’s market value:

“I do think bitcoin is on an inevitable path to having the same market cap and then a higher market cap as gold.”

Current estimates place the total market capitalization of gold at roughly $10.7 trillion. Bitcoin, by contrast, has a total market value of $1.1 trillion.

Bitcoin appears to be outshining gold in the battle of the safe havens, with some prominent analysts claiming that BTC is taking market share away from the yellow metal. In December 2020, JPMorgan Chase strategists said Bitcoin’s ascendance would serve as a headwind for bullion in the short term

One Bitcoin is currently worth 34.49 ounces of gold. This time last year, the ratio was around 4.19 ounces.

bookmark_borderEnjin secures $18.9M funding for Polkadot-based NFT blockchain

Amid the expanding nonfungible token metaverse, Enjin is set to debut the first-ever NFT blockchain built on Polkadot.

Crypto exchange platform Crypto.com has reportedly led an $18.9 million private funding round for Enjin’s new NFT blockchain platform.

Enjin announced the news on Wednesday with DFG Group, BlockTower and Arrington XRP Capital among other investors in the private sale.

Dubbed “Efinity,” the platform is an NFT blockchain built on Polkadot that will reportedly offer greater scalability for participants in the expanding NFT space.

Detailing the technical specifications of the new NFT blockchain, the announcement stated that Efinity will have an initial throughput capacity of processing transactions every six seconds. The project team plans to utilize proof-of-stake consensus to achieve scalability to the tune of 1,000 transactions per second.

Apart from scalability, Enjin will also look to engineer cross-chain interoperability in the NFT space as part of efforts to create a true NFT metaverse.

Thus, Enjin is working on a new token standard called “Paratoken” touted to deliver cross-chain functionalities for NFTs. With Paratokens, market participants will be able to bridge digital collectibles from other blockchains to the Efinity ecosystem.

According to Enjin, Paratokens push the envelope of the ERC-1155 token standard created by the company back in 2018. Commenting on the importance of cross-blockchain functionality for NFTs, Enjin co-founder and chief technology officer Witek Radomski stated:

“Digital assets should exist in a metaverse of blockchains. Opening up liquidity across multiple blockchains and use-cases will connect a broad ecosystem of creators, buyers, and sellers.

The Efinity blockchain will also have its own native token called Efinity Token (EFI). Enjin Coin (ENJ) holders can stake ENJ to earn EFI which serves as the fuel to processing transactions on the new NFT network. EFI will also serve as the governance token for the Efinity community.

Enjin Coin has enjoyed massive price returns in 2021 amid the growing interest in NFTs. ENJ token rallied more than eight-fold in March and is up more than 1,700% year-to-date.

bookmark_border公链项目 CasperLabs 正式启动主网

链闻消息,公链项目 CasperLabs (CSPR)宣布于 3 月 31 日 23 时正式启动主网,产出首个创世区块。Casper 的 54 个创世节点同时一起启动,随着主网上线,更多 Casper 验证节点也会启动。

CasperLabs 已于上周在 CoinList 上通过公募共售出 16 亿枚 CSPR,筹集到 3200 万美元。

原文链接:公链项目 CasperLabs 正式启动主网

bookmark_border加密货币衍生品交易所 Deribit 推出比特币波动率指数 DVOL

链闻消息,加密货币衍生品交易所 Deribit 推出比特币波动率指数 DVOL,DVOL 指数利用相关到期日期权的隐含波动率,计算出 30 天年化波动率的衡量标准。DVOL 指数反映的是比特币的隐含波动率走势,称为「行动指数」,因为比特币期权的偏度通常为正值,并且比特币价格向上和向下的波动都很大。

DVOL 展示了市场对于比特币波动率的预期,是期权定价的核心,也代表了市场对于比特币走势的预期,举例来看,比如 DVOL=90,用 DVOL 除以 20 则比特币的预期日波动率为 4.5%(90/20)。比如当下 BTC 的价格在历史新高 63000,DVOL>80 则代表市场极其贪婪。

原文链接:加密货币衍生品交易所 Deribit 推出比特币波动率指数 DVOL

bookmark_borderAustralians can now exchange solar energy credits for beer with blockchain

Victoria Bitter has partnered with blockchain energy trading platform Power Ledger to allow customers to earn beer with surplus solar energy.

Asahi’s Australian lager beer subsidiary Victoria Bitter has taken a step toward sustainability by allowing customers to earn a pint with solar energy via blockchain.

According to a Wednesday announcement, Victoria Bitter has partnered with major blockchain energy firm Power Ledger to unlock a new program allowing participants to exchange excess solar energy for slabs of beer.

“The only thing better than drinking the Big Cold Beer in the Aussie sun is earning beer while you do it. Plus it’s a real win-win for beer lovers and the environment,” Victoria Bitter’s general manager of marketing Brian Phan said.

The new Solar Exchange program allows customers to track how much beer they have earned based on the number of solar energy credits exchanged with Victoria Bitter. “Every $30 worth of credit can be exchanged for a slab, which is then delivered straight to your door,” the company said in the announcement.

Power Ledger founder Jemma Green explained that their blockchain platform will be responsible for tracking how much power customers feed to the grid. “You can see how many bottles of beer you’ve earned every 30 minutes,” Green said. Using solar credits obtained in the program, Victoria Bitter will re-invest them back into the program or towards the business’ broader sustainability goals.

Power Ledger provides peer-to-peer energy trading services based on blockchain technology. Last year, the firm started rolling out its blockchain-based solar energy platform in Western Australia, allowing users to track energy consumption and sell their surplus solar energy to other residents.

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