Vaneck Bitcoin Futures ETF Gets Green Light from SEC — Fund to Join Proshares BTC ETF Listing on NYSE

Vaneck Bitcoin Futures ETF Gets Green Light from SEC — Fund to Join Proshares BTC ETF Listing on NYSEThe wealth manager Vaneck will be launching its bitcoin futures exchange-traded fund (ETF) in the United States following the Proshares ETF listing that launched on Tuesday. According to the post-effective filing with the U.S. Securities and Exchange Commission (SEC), the Vaneck bitcoin futures ETF launch is approved to be listed after October 23. Vaneck’s Bitcoin […]

As Bitcoin Makes New ATH, Netflow Hints BTC Will Explode Here

The history of the Bitcoin netflow indictor may suggest that the current market is ready for the next major price swing up as the crypto makes a new ATH. Bitcoin Netflow Has Historically Approached Zero Before Major Price Upswings As explained by an analyst in a CryptoQuant post, there seems to be a relationship between BTC netflows and price swings upward. The Bitcoin netflow indictor is defined as the difference between the inflows and the outflows, and it shows the net amount of the crypto entering or exiting centralized exchanges. When the metric takes on negative values, it means there are more investors withdrawing their coins compared to those depositing. Sustained such a trend can be bullish for BTC as holders usually take their crypto off exchanges for hodling or selling through OTC deals. On the other hand, when more coins are flowing into exchanges than those flowing out, the netflow shows positive values, which may be bearish as it implies investors are sending their Bitcoin to exchanges for withdrawing to fiat or for buying altcoins. Now, here is a chart that shows the trend in the value of the indicator over the last year: The relation between BTC price and the netflows | Source: CryptoQuant In the above graph, the analyst has marked the behavior of the indicator compared with the Bitcoin price. As is apparent, the netflow always touched the zero mark right before a big price move up. A netflow value of zero means the investors taking out their coins from exchanges are balanced by those putting them in. Related Reading | Bitcoin Futures ETF Exceeds Expectations, Trades $1 Billion On Day One This trend seems to have been followed during the bull run earlier in the year, and so far the current rally has also followed it. Right now, the netflow is right at zero, which makes the current point suitable for making another big move up. And it seems to have already begun as… BTC Price Makes New All-Time High! Bitcoin has reached a new ATH today as the crypto trades at $66k at the time of writing. The below chart shows the trend in the price of BTC over the last 24 hours. Related Reading | Ethereum Breaks $4,000, All-Time High Unavoidable? BTC breaks past $65k to make a new ATH | Source: BTCUSD on TradingView Bitcoin is now heading into unknown territories as every move up now will result in a new ATH to be reached. Knowledge of past bull runs hints that the volatility will probably shoot up now and the crypto will experience wilder price swings. And if the netflows are anything to go by, BTC looks ready to explode from this point. Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

HUMBL To Use BLOCKS To Initiate Strategic Collaboration on Blockchain Initiatives

In the blockchain industry, partnerships and strategic collaborations are essential for industry growth and expansion. With the boom of the relatively young decentralized finance (DeFi) and non-fungible token (NFT) market, projects need to collaborate to consolidate on the rise and further drive the market higher. There have been several notable partnerships within the blockchain industry, but the newest that has been making waves is the collaboration between BLOCKS and HUMBL. Both are currently experimenting with the use of sidechains and bridges to minimize the cost fees on NFTs by close to 98%. With this partnership, HUMBL has become the first among the growing number of companies within the Blocks Builders to leverage the various Blocks Builder’s Modules to build better using BLOCKS. The Goal of the Collaboration Between BLOCKS And HUMBL There are lots of things that will be achieved through this collaboration. Both platforms are already working on improving the non-fungible token (NFT) metadata storage across projects like music and video. They are also trying to develop a better “verified by BLOCKS ” registry built to enable users to authenticate, track, and verify their NFT holdings irrespective of their location. Both BLOCKS and HUMBL are also experimenting with BLOCKS builders blockchain plugin modules that include ticketing, real estate, payments, etc., on the HUMBL Wallet and the HUMBL platform. In the words of Adam Wolfe, the lead blockchain consultant at BLOCKS, “Whether it was Cisco packaging router and switches, or Apple packaging megabytes and cell minutes on their partner networks, every technology cycle has paired consumer packaging companies and the network they run on. The HUMBL and BLOCKS Network teams hope to do the same thing here, in giving global consumers a smarter blockchain grid and simple packaging layer on top of it.” What is BLOCKS? BLOCKS is the first legally registered Wyoming DAO LLC in the blockchain industry. They are currently an open-source software stack for DAOs, including a library of governance protocols and friendly interfaces to build and manage DAOs. The team is also open to partnering, collaborating, or joining forces with like-minded entities, individuals, as well as network participants to set the standard for a legally registered DAO LLC. The BLOCKS platform is poised to connect industries and enterprise-grade technologies to the blockchain network by employing an industry and blockchain agnostic approach. Working closely with Wyoming legislatures, BLOCKS is able to build the first legally registered decentralized autonomous organization (DAO) in the world. The team believes that BLOCKS DAO is a beacon of the future and critical to their journey of progressive decentralization. According to the information available on the BLOCKS website, they will pave the way for DAOs across the world as a model of compliance and accountability. You can also join the BLOCKS waitlist to enjoy these services. At the heart of the BLOCKS, DAO, and Builder Program is the BLOCKS Token. The token powers everything from on-chain governance to enterprise transactions happening within the BLOCKS Builder’s partnerships. More details about the BLOCKS can be accessed on the BLOCKS blog page. Overview of HUMBL HUMBL is a consumer blockchain company that works to simplify the use cases of blockchain technology. The company simplifies blockchain use cases across verticals such as payments, ticketing, non-fungible tokens, and real estate. HUMBL is connecting consumers and merchants in the digital economy. The HUMBL ecosystem is being developed to support the over 162 million freelancers in Europe and the United States. For freelancers, HUMBL makes it possible for them to receive payment from wherever they are and whenever they need them. It gets more interesting with HUMBL; anybody can become a merchant in just a day without additional hardware or even strict contracts. HUMBL also designed a payment app for consumers across borders and currencies. For more details, you can read the HUMBL blog.  

Treasury Says Crypto Reduces Efficacy of US Sanctions, Seeks More Funding

Treasury Says Crypto Reduces Efficacy of US Sanctions, Seeks More FundingThe U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of American sanctions. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions,” the Treasury Department explained. Treasury Says Crypto Threatens Efficacy of U.S. Sanctions […]