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DCMC launching crypto wallet with built-in DEX, inheritance, and insurance

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DCMC launching crypto wallet with built-in DEX, inheritance, and insurance

DCMC, a cryptocurrency wallet platform, recently announced the launch of its native token and new crypto wallet that features inheritance and insurance functions. Moreover, the wallet is built on top of the DCMC DEX, where DCMC token holders can share in its profit.

There are three fundamental DCMC Wallet functions:

1. Insurance

When a user is unable to access their wallet in a situation such as forgetting or losing their password, DCMC’s insurance function will cover this circumstance, and all their assets will be returned to them.

In most cases, when managing or storing assets in a general crypto wallet; management is 100% the user’s responsibility. As such, if a user cannot access their wallet for any reason; assets might never recover. DCMC Wallet enables users to ensure that their assets are safely protected.

2. Sharing ownership

In the DCMC Wallet, there is a joint ownership option. With this setting, withdrawing assets requires verification from all approved users on the account.

3. Easy transfer of assets to family members and designated people

Wallet owners can set up their wallets with specified conditions. For example, when something unexpected happens to the wallet owner; multiple approved users, such as family members, loved ones, or colleagues, can access the wallet on behalf of the principal owner.

For more information, check out the DCMC whitepaper.

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Bitcoin drops $1K in five minutes in fresh dip below $60K

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Bitcoin drops $1K in five minutes in fresh dip below $60K

Ethereum slips below $4,000 as an anticipated correction suddenly takes hold of crypto markets.

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Bitcoin drops K in five minutes in fresh dip below K

Bitcoin (BTC) fell sharply on Oct. 27 as $60,000 finally gave way to two-week lows.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin bites into major buy wal

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD nearing $58,000 at the time of writing, hitting its lowest since Oct. 15.

The move follows multiple retests of $60,000, with Bitcoin now taking liquidity in a large support wall with $57,000 as its base.

Analysts, as Cointelegraph reported, were already prepared, with some data suggesting a deeper dive to a low as $50,000 would still preserve the overall bull trend.

#Bitcoin couldn’t break through $63.6K and tests the other side of the range.

Might be dropping another time if $61.6K can’t break and then I’m looking at $58K next. pic.twitter.com/HIsvhE5ZlZ

— Michaël van de Poppe (@CryptoMichNL) October 27, 2021

Commenting on the situation meanwhile, Charles Edwards, CEO of investment firm Capriole, blamed leveraged traders for sparking the volatility.

“Basically Bitcoin looks incredible here on most metrics, but leverage traders have gone out of control,” he argued.

“We won’t get sustainable price rises until that changes.”

Data showed $500 million being liquidated in a single hour across cryptocurrency.

Altcoins lose big on trend reversal

Ether (ETH) led a bleed from altcoins Wednesday, falling below its hard-won $4,000 support line.

ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView

Related: Expanding ecosystem and $1.86B futures open interest back Solana’s $250 target

Several of the top ten cryptocurrencies by market cap saw daily losses of over 15%, including Dogecoin (DOGE) and Solana (SOL).

Shiba Inu (SHIB) was still largely in the green, up 23% on the day despite the market turnaround and continuing a wild month.

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Redditors cheer as GameStop assembles team of NFT experts

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Redditors cheer as GameStop assembles team of NFT experts

“Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” Gamestop’s Head of Web3 Gaming job listing reads.

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Redditors cheer as GameStop assembles team of NFT experts

GameStop (GME) is assembling a team of blockchain and NFT experts to work on the firm’s upcoming NFT platform.

The firm’s GME stock is a cult favorite amongst retail traders as a result of the r/wallstreetbets and Robinhood saga earlier this year. On Reddit the r/Superstonk community boasts 659,000 members, and is dedicated to hosting business and stock discussions related to GME.

A post about GameStop’s job listings yesterday has received more than 10,000 upvotes at the time of writing, with many members posting bullish sentiments over GameStop’s latest move.

GameStop quietly unveiled a bare-bones website for its NFT marketplace in May. The site currently features a Nintendo Gameboy-style gaming console with an Ethereum logo, along with a message calling out for recruits to work on the platform.

Since then the firm has held its cards close to its chest, however on Oct. 25 it listed a total of eight jobs for crypto-friendly candidates, including three roles for NFT experienced software engineers, three jobs for product marketers and with two roles focused on Web3 based gaming.

One of the listings for the Head of Web3 Gaming job says that GameStop is looking for someone with experience with “Ethereum, NFTs and blockchain-based gaming platforms.” The firm has also hinted that there are some plans related to the Metaverse in the works.

“GameStop is looking for a unique individual who can help accelerate the future of gaming and commerce. In this future, games are the places to go, and play is driven by the things you bring. Future creators won’t just build games but also the components, characters, and equipment. Blockchains will power the commerce underneath,” the job listing reads.

Web3, billions in revenue, NFTs, Ethereum Layer 2. probably nothing. $GME pic.twitter.com/s3PiaqtWQl

— Chris SilvΞstro (@vestro) October 26, 2021

Related: Reddit may be preparing to launch its own NFT platform

Members of the r/Superstonk community were singing the firm’s praises yesterday, with “Triaspia2” calling it one of the “best job listings” they had seen, while pledging to buy more GME as it was a “bullish signal.”

Redditor “Donnybiceps” was equally bullish, noting that:

“NFTs are the future and people who haven’t gotten on board the GME train while knowing all these clues then you should be blaming yourself for not thinking this through.”

GME has had a volatile performance in October, going as low as $166 before bouncing to around $187 and subsequently crashing down again. However, according to data from Tradingview, the price of GME has still gained 2.8% this month to sit at $178 at the time of writing. The year-to-date gain for GME is a whopping 844%.

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Citi’s bullish Coinbase target: ‘Buy crypto’s general store’

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Citi’s bullish Coinbase target: ‘Buy crypto’s general store’

Multinational investment bank thinks Coinbase stock is worth 30% more than its current price.

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Citi's bullish Coinbase target: 'Buy crypto's general store'

Financial services multinational Citi initiated coverage of U.S. crypto exchange Coinbase’s stock this week with a very bullish price target.

Citi analyst Peter Christiansen told investors that they could “buy crypto’s general store,” in a research note published on Tuesday, Oct. 26. Citi has given COIN a bullish price target of $415 which is substantially higher than Monday’s closing price of $319.

The analyst stated that the stock offers investors “direct exposure to increased retail and institutional adoption of cryptocurrencies.”

The multinational banking giant sees the potential in Coinbase as the company makes continued efforts to expand its operations beyond just a crypto exchange and into other areas such as NFTs and cold wallet storage.

The company accrued more than a million applications for its NFT platform waiting list within a day or so of its announcement on Oct. 13. Christiansen recommended the company, “for its position within the crypto value chain, a ‘networking-based’ business model and strategy, the undeniably very large opportunity set … yes, we believe COIN is investable.”

He also considers Coinbase’s “lean forward approach to regulatory compliance” a competitive advantage.

“To a degree, we think rising regulations could be a positive for Coinbase’s competitive positioning, particularly versus business models that predominantly rely on markets being unregulated.”

Christiansen added that the stock is in place to make “higher highs and higher lows” as crypto asset adoption increases. U.S. investment bank Piper Sandler also raised their target price for the stock to $360.

Not every analyst is on board with JPMorgan’s Kenneth Worthington raising his price target on COIN only slightly to $375 from $372. However Lisa Ellis, senior Equity Analyst at MoffettNathanson said COIN was a “must-own stock” that could go to $600 in light of its recent partnership with Facebook on its Novi crypto wallet.

Coinbase went public in April with an opening IPO price of $381, it surged to a peak of $430 on the day before retreating. COIN hit a monthly high of $326 on Monday this week but has fallen 4.3% since to an after-hours trading price of $312 according to MarketWatch.

Related: Reports suggest that a mainstream tech giant holds shares of Coinbase stock

Shortly after it was listed, reports emerged that Coinbase insiders and executives had begun dumping the stock. The company made around $1.6 billion in profit in Q2, a large portion of that coming from its higher than industry average transaction fees. The Q3 report comes out on November 9.

In August, CNBC ‘Mad Money’ host Jim Cramer recommended Coinbase stock suggesting investors allocate 5% of their portfolios to crypto assets.

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