Moonstake will support the staking of Orb’s official token on Moonstake Wallet.

Moonstake has signed a memorandum of understanding with Orbs, a hybrid blockchain infrastructure with enterprise-grade scale, security, and support.

Through this collaboration, Moonstake will soon support the staking of ORBS, Orbs' official token, on Moonstake Wallet, as well as participate further in the Orbs blockchain ecosystem.

The parties will also host community building programs, research, training, events, and conferences with the goal to increase awareness and adoption of blockchain and distributed ledger technology in the banking and finance industry.

Moonstake started in the staking business last year with the aim to create the largest staking network in Asia. Since then, Moonstake has developed the most user-friendly wallets for both web wallet and mobile wallet (iOS/Android) that are compatible with over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach around $1.076b (US$800m) in staked assets in six months.

Meanwhile, Orbs is a prominent hybrid network with a focus on converting businesses to blockchain. The company has partnered with industry leaders from both traditional and decentralised technology sectors, such as IBM and Consensys respectively, to bring blockchain to the field of telecommunications.

"We are very pleased to be a partner with Orbs, the biggest blockchain company in Israel. Moonstake provides easy access for staking globally. Together, we can accelerate global awareness and adoption of blockchain technology for both users and businesses," said Mitsuru Tezuka, founder of Moonstake.  

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[Blockchain Today Reporter Seung-won Jeong] On the 16th (local time), a new name rose to the top 100 in the market cap of cryptocurrency. Project Orbs (ORBS), a blockchain company that achieved a weekly growth rate of 700% after recording a 75% surge for a week, is the protagonist.

According to Cointelegraph reports, the day before Orbs was announced as Moonstake’s latest staking wallet. In an announcement on the 15th, Orbs and Moonsteak announced that “the partnership between the two companies will increase the adoption of blockchain technology in the banking and financial industries.”

According to CoinMarketCap’s data, ORBS token price rose 75% over 24 hours from the initial $0.168 range to a new all-time high of $0.295.

The Orbs broke their highs throughout the week, surpassing the previous high of $0.04, a 704% growth rate. On this day, three of the token’s five major markets came from trading pairs for the Korean won.

Orbs, headquartered in Israel in 2017, is focused on building a public decentralized blockchain infrastructure for use by businesses and enterprises. Daniel Peled, co-founder and CEO of Orbs, said, “The partnership with Moonsteak will bring more businesses to the blockchain in Southeast Asia and the Middle East.”

Moonstake is known to have paid proof-of-stake rewards to eight cryptocurrencies since its launch in the third quarter of 2020, and introduced a staked coin of $800 million.

Orbs (ORBS) is at the 104th place, down 18.94% from the previous day based on coin market cap as of 3 p.m. on the 17th (Korean time).

[email protected]

Moonstake Partners with Hybrid Enterprise-Grade Blockchain Orbs to Soon Provide Full-Scale Support for Orbs Universe ACN Newswire   {{following ? "Following" : "Follow"}} March 16, 2021 2:30am   Comments Share: SINGAPORE, Mar 16, 2021 - (ACN Newswire) - Moonstake announces today that it has signed an MOU with Orbs, a hybrid blockchain infrastructure with enterprise-grade scale, security, and support.Through this collaboration, Moonstake will soon support the staking of ORBS, Orbs' official token, on Moonstake Wallet, as well as participate further in the Orbs blockchain ecosystem. The two parties will also host community building programs, research, training, events, and conferences with the goal to increase awareness and adoption of Blockchain and Distributed Ledger Technology in the Banking and Finance Industry. Moonstake and Orbs will discuss further potential provision of consulting services to financial institutions in the regions of Southeast Asia and Middle East.Moonstake started in the staking business last year with the aim to create the largest staking network in Asia. Since then, Moonstake has developed the most user-friendly wallets for both Web Wallet and Mobile Wallet (iOS/Android) that are compatible with over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake's total staking assets have grown rapidly to reach USD 800 Million in staked assets in 6 months. Within a year of its founding, Moonstake became ranked in the top 10 of the world's staking service providers and it continues to expand its business strongly.Meanwhile, Orbs is a prominent hybrid network with a focus on converting businesses to blockchain. The company has partnered with industry leaders from both traditional and decentralized technology sectors, such as IBM and Consensys respectively, to bring blockchain to the field of telecommunications. ORBS, the native token that fuels all activities on the Orbs blockchain including smart contracts, transaction fees, and consensus-based storage is currently ranked #5 in the Top 10 trending crypto coins by CryptoCrunchApp. Orbs' vision is to build digital trust at scale by turning the trust-enabling technology of blockchain into a viable competitive strategy for businesses worldwide. By entering into a strategic partnership with Moonstake, the two companies can collaborate to accelerate global awareness and adoption of blockchain and distributed ledger technologies in the field of finance together.Mitsuru Tezuka, Founder at Moonstake says: "We are very pleased to be a partner with Orbs, the biggest blockchain company in Israel. Moonstake provides easy access for staking globally. Together, we can accelerate global awareness and adoption of blockchain technology for both users and businesses."Daniel Peled, Co-founder and CEO at Orbs says: "Orbs is thrilled to be partnered with Moonstake, one of the top 10 staking providers in the world. Through this partnership, we will accelerate the adoption of decentralized technologies and services in the field of finance for the Southeast Asia and the Middle Eastern market."About MoonstakeMoonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies. Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia's burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan's biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry's reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake's innovative journey.With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 800 Million. https://www.moonstake.io/About OrbsOrbs is a free, open-source, public blockchain infrastructure designed for mass usage applications, providing enterprise-grade scale, security and support. Orbs blockchain network expands the offerings of public blockchains by supporting permissioned applications developed by existing for-profit businesses, while also supporting purely decentralized apps and being a prime platform for launching decentralized finance applications. Founded in 2017, Orbs is being developed by a dedicated team of more than 30 people out of its offices in Tel Aviv, Israel, London, UK, Singapore, and Seoul, South Korea. Orbs was named Gartner's "Cool Vendor in Blockchain Technology" for 2018. https://www.orbs.com/Source: MoonstakeCopyright 2021 ACN Newswire. All rights reserved. View Comments and Join the Discussion!   View the discussion thread.

Production ready environment, built entirely from new code, is the first to leverage requirement driven approach to enable real business value on the blockchainOrbs, the hybrid blockchain, announced today that the Orbs token (ORBS) has been listed on Bittrex International.The listing follows the release of the project’s enterprise-grade public blockchain in late March. The project is the first blockchain to address fundamental issues of performance and interoperability alongside the needs for true decentralization.“Following the launch of our production ready environment, we are excited to take this next step in bringing the project forward,” said Daniel Peled, Orbs President and Co-Founder. “Partnering with Bittrex International will help us better bring developers and businesses the support and product to fulfill the potential of the technology.”Bittrex International operates a secure, reliable and advanced digital asset platform built on Bittrex’s cutting-edge trading technology. Our mission is to be a driving force in the blockchain revolution, increasing adoption of this innovative technology around the world. This international trading platform operates within the regulatory framework established by the European Union and Maltese Government, including the Malta Virtual Financial Assets Act. The company will apply to the Malta Financial Services Authority to become a regulated Virtual Financial Asset exchange. Learn more at https://International.Bittrex.com.Sign up for the Orbs newsletter to get project updates.Get the latest developments straight to your inbox.Get the news that matters to blockchain businesses. Curated, analyzed & in your inbox.

A new entrant climbed into the top 100 cryptocurrencies by market capitalization on Tuesday, after a 75% overnight surge compounded 700% weekly growth for blockchain enterprise project Orbs.

The day prior, the project's ORBS token had been announced as the latest addition to Moonstake’s staking wallet, which returns interest to users who stake their cryptocurrencies. The partnership between Orbs and Moonstake will also see the pair combine to increase the adoption of blockchain technology in the banking and finance industry, according to a Monday announcement.

From a starting price in the $0.168 range, the value of the Ethereum-based ORBS token increased 75% over 24 hours, briefly hitting a new all-time high of $0.295, according to data from CoinMarketCap.

Orbs struck new all-time highs all week, soaring past its previous top of $0.04 on the way to 704% growth over seven days. As of publication, three of the top five markets for the token came from trading pairs against the South Korean won.

Orbs was founded in 2017 with main offices in Israel and focuses on building public, decentralized blockchain infrastructure for use by businesses and enterprises. Orbs co-founder and CEO Daniel Peled said that the partnership with Moonstake would bring more businesses onto the blockchain in Southeast Asia and the Middle East.

Moonstake provides proof-of-stake rewards for eight cryptocurrencies, reportedly bringing in $800 million in staked coins since launching in the third quarter of 2020. 

Bitcoin, the most valuable cryptocurrency in the world, is currently trading near $53,000 with a market cap of approximately $990 billion. Bitcoin whales are moving the digital currency in large amounts amid price volatility.

According to the latest data published by Whale Alert, a blockchain tracking and analytics firm, an anonymous cryptocurrency user moved 12,000 Bitcoin worth more than $620 million. The transaction was executed on 25 March at 20:58 UTC.

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The latest transfer was recorded on blockchair.com. Whale Alert has reported a surge in unknown cryptocurrency transactions involving Bitcoin, Ethereum, XRP and other digital currencies. Finance Magnates earlier reported about massive Bitcoin outflows from the digital currency exchange Coinbase.

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More than $1 billion worth of Bitcoin has left Coinbase within the last few days. BTC’s liquid supply at leading cryptocurrency exchanges is plunging.

“Mind-blowing how Bitcoin supply just keeps drying up more despite recent price volatility. The fundamental dynamics seem different this time around compared to the last cycles,” Jan & Yann, Co-founders of crypto analytics provider, Glassnode mentioned on Twitter.

BTC whales are not selling their digital assets as only 36% of the Bitcoin supply has moved in the last 6 months.

Apart from the latest Bitcoin transfer, Whale Alert reported about a massive Ethereum transaction. An unidentified ETH user moved 197,656 Ethereum to an unknown crypto wallet. The total value of the transaction stood at around $317 million at the time of the transaction. Additionally, the blockchain firm reported a transfer of around 80 million USDC. Unknown crypto transactions are having a direct impact on the price of digital currencies. The cryptocurrency market has seen a volatile week as Bitcoin lost nearly 10% of its value in the last 7 days, and Ethereum is down nearly 12% this week. Tether has regained the position of the world’s 3rd largest cryptocurrency after reaching a market cap of $40 billion. Binance Coin is the 4rth largest digital currency in the world with a market cap of around $37 billion.

Cryptocurrency services provider, imToken announced that the company has raised $30 million in a Series B funding round to accelerate the development of its next iteration, imToken 3.0.

According to the official announcement, the latest funding round was led by Qiming Venture Partners. IDG Capital, Breyer Capital, HashKey, Signum Capital and Longling Capital, which also participated in the Series B funding.

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imToken became the latest cryptocurrency wallet provider to receive funding. Blockchain.com, a leading crypto wallet provider announced earlier this month that the company has secured $300 million funding at a valuation of over $5.2 billion.

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Founded in 2016, imToken has more than 12 million users in over 150 countries. The cryptocurrency platform is planning to use the latest funds to build a dedicated research arm.

Commenting on the latest announcement, He Bin, CEO and Founder of imToken, said: “We are thrilled to be partnering with such a savvy and experienced group of investors from both inside and outside of the crypto space. Beginning with our inception five years ago, we recognized the huge potential of blockchain technology as well as the challenges faced by the industry with regards to a need for improved user experiences, secure key management and scalable network. With our investors’ support, we are well-positioned to tackle these challenges and grow our platform beyond our cryptocurrency wallets.”

The company launched imToken Ventures in 2018 to invest in startups working in the cryptocurrency wallet ecosystem. The blockchain firm mentioned that one of its incubated projects Tokenlon facilitated more than $10 billion in trading volume.

“We have had our eye on imToken since the early days of our involvement in the cryptocurrency space, and we have been extremely impressed with what they’ve accomplished to-date. We believe much of their success can be attributed to their disciplined focus on user experience and ease-of-use, and we look forward to helping them apply that same focus to a wide range of services beyond their core wallet offerings,” said Guo Yihong, Partner at IDG Capital.

Benjamin Reynolds, the mastermind behind a massive bitcoin Ponzi scheme, must pay the CFTC a whopping $572 million in penalty and restitution after a federal judge in New York entered a default judgment against him.

The US Commodity Futures Trading Commission accuses Reynolds of running a pyramid scheme called Control-Finance, which was fraudulently promoted as a UK-based cryptocurrency investment company.

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In a complaint filed in 2019, the agency said the fictional CEO obtained and misappropriated more than 22,800 bitcoin (worth more than $1.24 billion) from more than 1,000 customers.

In order to extract bitcoin from investors, Control-Finance lured them with promises of guaranteed 1.5 percent a day, or 45 percent a month, which they described in weekly fabricated trade reports.

The fraudulent scheme operated between May and September 2017, advertising profits from a trading pool that never actually generated any returns.

For new participants, they were assured to receive guaranteed annual returns, while they were actually duped into a Ponzi scheme. ‎

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“While Reynolds represented that he would return all bitcoin deposits to customers of Control-Finance by late October 2017, he never did and instead retained the deposits for his own personal use. Customers lost most or all of their bitcoin deposits as a result of the scheme,” the CFTC said.

The watchdog said Reynolds’ Control-Finance in reality did no trading and made no profits for customers. Instead, they laundered the stolen funds through thousands of circuitous blockchain transactions. In the course of his scheme, the defendant transferred part of the stolen assets to bank accounts in offshore tax havens like the Seychelles islands.

In addition, the court papers allege that the Ponzi-scheme creator forged the UK Companies House documents to convince their victims that they were operating a regulated business.

In September 2017, Control-Finance shut down its social media pages, but the CFTC failed to locate Reynolds since it uncovered the illicit enterprises in June 2019. As such, the agency asked the New York court to settle the case in his absence.

Today’s default order enables US authorities to pursue any available assets, especially those in the United States, to satisfy the judgments.

As the scam’s director has vanished, the CFTC cautions victims that restitution orders may not result in the recovery of any money lost because the wrongdoers may not have sufficient funds.

Grayscale, the world’s largest crypto asset manager, announced yesterday that the company has more than $38 billion worth of Bitcoin under management. Grayscale’s Ethereum (ETH) Trust remained the second-most valuable investment trust for the company with nearly $5.8 billion worth of ETH under management.

According to the official announcement, the total value of the company’s digital assets under management crossed $45.2 billion on 30 March. The asset manager has more than 651,000 Bitcoin under management.

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The total value of the company’s digital assets received a push from the recent surge in Bitcoin and Ethereum. Visa announced earlier this week that the company is planning to allow settlement of fiat transactions on the Ethereum blockchain. Payments giant, PayPal announced the launch of the ‘Checkout with Crypto’ service yesterday to allow US-based consumers to pay merchants through cryptocurrency assets.

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Bitcoin is currently trading near $59,000 with a market cap of more than $1.1 trillion. Grayscale accelerated the accumulation of the world’s largest cryptocurrency in the last quarter of 2020. The crypto asset manager started this year with approximately $20 billion in digital assets under management.

Grayscale expanded its portfolio with the launch of Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT) investment trusts earlier this month. The latest numbers from Grayscale show that the company has attracted substantial investments in its newly launched investment trusts. Despite the reason that Bitcoin and Ethereum account for nearly 95% of the company’s total digital assets under management, Grayscale has a substantial amount of Litecoin (LTC) and Ethereum Classic (ETC) under management. The company has nearly 1.5 million LTC under management with a total value of approximately $293 million. Grayscale’s Ethereum Classic (ETC) assets under management are valued at $158 million.

Bitcoin Cash (BCH) is the 5th largest holding of Grayscale as the asset manager has nearly 290,000 BCH valued at more than $150 million.

Celsius, a cryptocurrency lending and borrowing platform, today said its users can now instantly purchase cryptocurrency inside the app using Apple Pay.

The development came as Simplex has recently added Apple’s digital payment service to the available payment methods. This has allowed users of its partners to use the popular digital payment app to buy several associated tokens more simply.

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With the integration, Celsius is thus expanding its potential user base as the payment option is particularly popular in the US, where nearly half of Americans own an Apple device. Additionally, Apple is dominating 11% of the world mobile market, having grown its user base to more than 520 million people worldwide.

Simplex provides fiat on-ramp infrastructure for several cryptocurrency exchanges, brokers and wallets. The Israeli-based startup combines crypto payment processing with fraud prevention technology and also provides a KYC opt-out feature for purchases less than $150.

“Adding Apple Pay in our app makes cryptocurrency purchases easy, immediate and even more accessible to the Celsius community. Thanks to our partnership with Simplex, we’re continuing to build Celsius into the ultimate one-stop-shop for owning, earning and lending cryptocurrency,” says Alex Mashinsky, CEO of Celsius.

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This integration will improve security for Celsius customers as using Apple Pay does not require them to provide their credit card information over the internet.

Earlier this month, Celsius said it has surpassed over $10 billion in total cryptocurrency deposits in less than three years after launching its mobile app.

This announcement comes on the heels of Celsius saying it has acquired more than 145,000 new clients, totalling over 485,000 active users worldwide and was the first crypto platform to surpass $1 billion in total assets.

Furthermore, the crypto lender allows clients to access several services, such as instant depositing of digital assets in the Celsius wallet and using their cryptocurrencies as collateral to get fiat loans.

Celsius’ native token has seen significant growth, which was traded in early January at a new all-time high of $6.38 and is part of the Coinmarketcap’s top 70 list.

The authorities of one of the Canary Islands, an autonomous offshore territory of Spain, have issued an order to all public offices to sell their Bitcoin investments on ethical grounds, according to local news outlet  El Economista .

Pedro Martín, who is the president of the Island Council of Tenerife and hails from the Spanish Socialist Worker’s Party (PSOE), issued the order to sell the crypto investments made through the Technological Institute of Renewable Energies (ITER). 

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Martín’s predecessor ordered the local bodies to invest in digital currency. Though the exact amount of the crypto investments are not known, the report highlighted that the liquidation could yield around 1 million euros.

The divestment order came after an audit of 70 local public companies, which might have led to some irregularities using Bitcoins. Among many arguments, the President considers Bitcoins to be ‘opaque’ and not suitable for tax purposes. 

“I was surprised by the possibility that we could have a bitcoin bank at ITER, a kind of possibility to have a warehouse. These are very strange situations. That’s not one of the biggest problems: Bitcoins. This is part of a series of problems that we have been encountering,” Martín said earlier.

“I believe that it is a currency that is not accountable to the treasury. I do not think it is appropriate for a Cabildo of the island to manage it.”

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However, the move was criticized by many on social media.

— Isidro Quintana (@isidro_quintana) March 22, 2021

While the island is off-loading its crypto investments, many corporations in the United States and Europe are heavily investing in Bitcoin. Institutional demand also soared, which is driving the BTC prices even higher.

A private agency in the Canary Islands even started selling properties in exchange for cryptocurrencies.

Cryptocurrency crimefighter, Chainalysis has raised $100 million in a Series D round that values it at $2 billion. The private valuation comes barely four months after the NY company attained the ‘unicorn’ title for the first time when it collected $100 million in a Series C financing back in November.

Behind the latest cash injection was Paradigm, a crypto-focused investment firm based in San Francisco. It was also joined by previous investors Ribbit and Addition, a new venture capital firm led by Lee Fixel who was a former top investor at Tiger Global Management.

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Additionally, Chainalysis raised a further $13 million in July 2020 to expand the company’s Series B round to $49 million. The company initially nabbed a $30 million investment in February 2019, led by venture firm Accel, a growth-stage venture capital firm, then it raised a further $6 million from two major Japanese investors in April.

“Paradigm is passionate about investing in companies that enable the future of money. Chainalysis provides key data infrastructure and software for the cryptocurrency ecosystem, and as cryptocurrency adoption grows, so will demand for Chainalysis offerings,” said Fred Ehrsam, Co-Founder at Paradigm.

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The 75-person startup, which has offices in New York, Washington DC and Copenhagen, provides financial institutions, cryptocurrency exchanges and law enforcement with a platform to detect and investigate cryptocurrency money laundering, fraud and compliance violations.

Additionally, Chainalysis is selling its bitcoin-tracing technology and compliance software to banks and brokers to monitor and link digital identities to cryptocurrencies.

The blockchain intelligence platform said last month it has grown the number of its customers by 65 percent over a year thanks to higher demand for its investigative technology from public sector agencies. Without revealing the exact figures, the crypto tracer stated that it had doubled its quarterly revenues during the July-September period.

US authorities disclosed that they leveraged Chainalysis investigative assistance to seize more than $1 billion worth of bitcoin associated with Silk Road, the shady dark web marketplace that it took offline in 2013.

The Department of Justice (DOJ) said it was assisted in seizing the Bitcoins by Chainalysis to identify and investigate the cryptocurrency wallets used in that case. The department estimates that Silk Road generated around 600,000 Bitcoins in commissions for facilitating narcotics sales of illegal drugs, weapons and other nefarious goods.

Avanti Financial, a US-based financial services provider, announced that it has raised $37 million in its Series A funding round ahead of the launch of a cryptocurrency bank. Several family offices, institutional investors and cryptocurrency companies participated in the latest funding round.

According to the official announcement, Avanti is planning to use the latest funds for the company’s regulatory capital requirements and its other operating expenses. Avanti has raised a total of $44 million since its inception.

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The cryptocurrency services provider highlighted the participation of several institutional investors in the Series A funding round, including 1843 Capital, AP Capital, Banca del Ceresio, Binance US, Coinbase Ventures, ECMC Group, Equity Management Associates, Greybull Stewardship, Hard Yaka, HashKey, Holon Global Investments, Lemniscap, Madison Paige Ventures and Morgan Creek Digital.

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Commenting on the recent announcement, Caitlin Long, Founder and CEO at Avanti Financial Group, said: “We thank our investors for helping Avanti build a new breed of bank that services cryptocurrency Bitcoin and also offers meaningful API capabilities for US dollar transactions to tech-savvy customers. We have received more than 2,500 inbound customer inquiries since announcing receipt of our bank charter in October 2020, and we look forward to being able to service customers later this year. We expect to provide more details about our launch soon.”

Finance Magnates earlier reported about Avanti’s $5 million funding round in 2020.

The digital asset ecosystem has grown significantly in the last few years. Avanti became the latest cryptocurrency services provider to raise funds for expansion. Anchorage, a US-based cryptocurrency custodian, recently announced the raise of $80 million in a Series C funding round led by Singapore’s sovereign wealth fund, GIC.

“As Bitcoin and cryptocurrency markets mature and financialization network effects take root, there is a tremendous need for both well-crafted laws and experienced competent operators. When surveying the globe, in my opinion, Wyoming best meets these needs generally,” Trace Mayer mentioned in the official press release.

Bitcoin’s nosedives continued in the past 24 hours as the asset dipped as low as $53,000 – representing a near $9,000 drop from the latest ATH. BTC’s dominance over the market has also decreased as most alternative coins have halted the value losses.

As reported over the weekend, the primary cryptocurrency headed towards new highs and registered a new record at $61,800. As it all seemed quite bullish for BTC, the bears took control and completely reversed the price trajectory.

Yesterday bitcoin slumped to $55,000 in a $7,000 drop. Although it initially bounced off, the asset continued heading south shortly after, which led to an intraday low of $53,200 (on Bitstamp).

Nevertheless, the cryptocurrency has reacted positively since the latest drop and has added about $2,000 of value to its current level of over $55,000. With this increase, BTC’s market cap has reclaimed the coveted $1 trillion mark again.

However, bitcoin’s losses in the past 48 hours are significantly more damaging than the altcoin market.

Consequently, BTC’s dominance over the market has suffered. The metric comparing bitcoin’s market capitalization with all other cryptocurrencies has fallen below 61%, while it went as high as 62.5% on Saturday.

After mimicking their leader during the weekend, most alternative coins have either stalled or painted some gains in the past 24 hours. Ethereum has stayed at approximately the same price level as yesterday – around the $1,800 mark.

Binance Coin is also calm around $250. Cardano has marked minor gains to $1.03, while Litecoin and UNI have decreased slightly. Polkadot is the most significant loser from the top ten with a 5% decline to below $34.

However, Ripple has added the most value – 15%. As a result, XRP has neared $0.50.

As usual, the situation within the lower and mid-cap altcoins is substantially more volatile. Orbs entered the top 100 after a 50% surge in a day and a whopping 650% increase in the past seven days to $0.27.

Siacoin (40%), Ravencoin (22%), Reserve Rights (17%), NEM (15%), Terra (15%), Ontology (15%), and Nexo (10%) follow.

In contrast, Harmony has lost the most value – 17%. Holo (-15%), Hedera Hashgraph (-14%), Chiliz (-12%), and Pundi X (-10%) are next.

Source

KiwiSaver Growth Fund, an investment fund in New Zealand, has reportedly allocated around 5% of its overall investment to Bitcoin. James Grigor, Chief Investment Officer at NZ Funds said that Bitcoin will feature in more KiwiSaver schemes within the next five years.

According to a report published by Stuff, a news agency based in New Zealand, the investment firm purchased Bitcoin for the first time in October 2020 when the world’s largest cryptocurrency was trading at around $10,000.

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Bitcoin touched an all-time high of $61,000 earlier this month. As of writing, the digital currency is currently trading near $53,000, which means that the KiwiSaver fund has already registered substantial gains on its BTC holdings.

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“If you are happy to invest in gold, you can’t really discount bitcoin. Our KiwiSaver is majority built up through traditional assets classes, your bonds, and shares, and they will always be the asset classes that compound over time to give people the best retirement they can get. But, there’s going to be times when it’s not always going to be plain sailing. You may still have a positive view of those asset classes, but other opportunities present themselves,” Grigor told Stuff.

Grigor compared Bitcoin with gold and termed BTC as a commodity and a good store of value. He added that the digital currency has many characteristics like gold. Ray Dalio, an American Hedge Fund Manager and Founder of Bridgewater associated mentioned in December 2020 that the world’s largest cryptocurrency has established itself over the last 10 years, and BTC is similar to gold. The latest announcement from KiwiSaver Growth Fund came after several institutions around the world revealed their BTC exposure. MicroStrategy, Square, Tesla and Grayscale are holding Bitcoin in large amounts.

Financial giant Fidelity revealed earlier this week that the company is planning to launch a Bitcoin ETF. According to the SEC filing, Fidelity’s Wise Origin Bitcoin Trust will provide direct exposure to BTC.