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In a Wednesday note, Bannister highlighted the strong correlation between bitcoin and the Nasdaq 100 since 2020 as the c...
20/06/2024

In a Wednesday note, Bannister highlighted the strong correlation between bitcoin and the Nasdaq 100 since 2020 as the cryptocurrency shares characteristics as a speculative risk-on asset more than it behaves like "digital gold."

But while bitcoin has traded lower in June to around the $65,000 level, the broader stock market continues to hit new record highs driven by gains in mega-cap tech stocks like Nvidia and Apple.

Bitcoin's inability to hit new record highs suggests the stock market is likely to play catch-up as it's set to decline in line with the cryptocurrency, according to the note.

"Recently the weakening of bitcoin signals an imminent S&P 500 summer correction and consolidation phase," Bannister said.

Deutsche Telekom, Europe's largest telecommunications provider, is set to venture into Bitcoin mining. This announcement...
17/06/2024

Deutsche Telekom, Europe's largest telecommunications provider, is set to venture into Bitcoin mining. This announcement was made by Dirk Röder, head of Web3 infrastructure and solutions at T-Systems MMS, a Deutsche Telekom-owned subsidiary, during the BTC Prague conference on Friday.

Röder, who sported a shirt featuring a pink Bitcoin graphic styled after Deutsche Telekom's logo, revealed the company's plans with evident enthusiasm. "Since 2023 we [have been] running a Bitcoin node and we are running Bitcoin Lightning nodes as well," he stated. Röder then hinted at an upcoming venture, saying, "And with a heart full of [...] pride, I would like to let you in on a little secret: we will engage in 'digital monetary photosynthesis' soon."

This cryptic announcement prompted Bitcoin influencer Joe Nakamoto to seek clarification, directly asking, "So is T-Mobile mining Bitcoin?" To which Röder responded succinctly, "We will."

CryptoPunks topped the daily sales chart with US$1.7 million, up from US$130,640 from the day prior.Ethereum-based Crypt...
08/05/2024

CryptoPunks topped the daily sales chart with US$1.7 million, up from US$130,640 from the day prior.

Ethereum-based CryptoPunks was one of two non-fungible token (NFT) collections with more than US$1 million in sales on Tuesday, from just 14 transactions, according to CryptoSlam data.

CryptoPunks’ all-time sales volume rose to US$2.82 billion, third in the all-time NFT sales.

The second-highest performer of the day was another Ethereum collection, Bored Ape Yacht Club (BAYC), which recorded US$1.05 million in sales.

The Central Bank of Nigeria (CBN) has updated the number of deposit money banks operating in the country with Fidelity B...
08/05/2024

The Central Bank of Nigeria (CBN) has updated the number of deposit money banks operating in the country with Fidelity Bank and FCMB approved to operate internationally.

This was disclosed by the apex bank on its website with the title, “list of deposit money banks and other financial institutions as at April 26, 2024’.

From the updated list, there are seven commercial banks with international authorisation, 15 lenders with national authorisation, four commercial banking licenses with regional authorisation and four non-interest banking licenses with national authorisation.

07/05/2024

DITCH THE BANK? CAN DEFI BE TRUSTED TO STAND WITHOUT THE BANKS

In recent years, the world of finance has been undergoing a revolutionary transformation because of the rise of decentralized finance, or DeFi. But what exactly is DeFi, and is it a threat or hope?

DeFi, short for decentralized finance, refers to a set of financial services and applications built on blockchain technology. Unlike traditional finance, which relies on centralized institutions such as banks and exchanges, DeFi aims to create an open and permissionless financial system that is accessible to anyone with an internet connection.

One of the key features of DeFi is its decentralization. DeFi applications are built on blockchain networks, which are decentralized and distributed across a network of computers. This eliminates the need for intermediaries and allows for greater transparency and security.

Another important feature of DeFi is its interoperability. DeFi applications are built using open-source protocols, which means that they can easily integrate and interact with each other, creating a seamless financial ecosystem.

But DeFi seems like a hope because it eliminated the need for intermediaries, and significantly reduced the cost of lending, borrowing, and trading. But could this trust be because DeFi is still in its early stages, and developers are constantly experimenting with new and innovative financial products?

Well, DeFi also faces a number of challenges and risks. These include security vulnerabilities, regulatory uncertainty, and user experience issues. However, by creating an open, transparent, and inclusive financial system, DeFi has the power to democratize finance and help individuals take control of their own finances without the banks.

The Big Question now is, can the banks be ditched? From a personal perspective, this isn’t ultimately certain, but time is the biggest storyteller of events to come. However, DeFi has and will continue to stand without the banks.

VIDEO CREDI: STRONGHOLD

Arif Khan, the CEO and Founder of Alethea AI, leads a research and development studio pioneering the convergence of two ...
06/05/2024

Arif Khan, the CEO and Founder of Alethea AI, leads a research and development studio pioneering the convergence of two revolutionary technologies: Generative AI and Blockchain. Alethea AI's mission is to empower decentralized ownership and democratic governance of AI by harnessing the potential of these transformative technologies.

For Khan, decentralized AI is more than hype and more than abstract and more than a fashionable trend — it’s critical and it’s the future. And it can make our daily lives easier. "I think in five years, we will have autonomous on-chain AI agents doing crypto transactions, and managing a large part of our lives," predicts Khan. "In 5 to 10 years, managing our financial life, our emails, and the administrative hassle of things like paying bills. That can be done on-chain and natively."

The Nigeria Deposit Insurance Corporation (NDIC) has increased the maximum deposit insurance coverage levels for all lic...
03/05/2024

The Nigeria Deposit Insurance Corporation (NDIC) has increased the maximum deposit insurance coverage levels for all licensed deposit-taking financial institutions with immediate effect.

For commercial banks, NDIC increased the coverage from N500 thousand to N5 million offering full protection to 98.98 per cent of depositors.

For deposit money banks, coverage from N500 thousand to N5 million

For microfinance banks, coverage from N200 thousand to N2 million

For payment service banks, coverage from N500 thousand to N2 million.

The cryptocurrency market is experiencing a challenging day marked by continuous selling off. The total market capitaliz...
01/05/2024

The cryptocurrency market is experiencing a challenging day marked by continuous selling off. The total market capitalization of cryptocurrencies has declined by 5.94% in the past 24 hours and currently stands at $2.21 trillion, according to CoinMarketCap data. Furthermore, the Crypto Fear and Greed Index has shifted from greedy to neutral territory for the first time since January 2024.

The bearish trends on Tuesday are evident across the board, with every coin in the top 100 exhibiting negative performance over the past 24 hours. Cosmos (ATOM) is the best-performing token among the top 100, gaining 1.98%. This is followed by Tron (TRX), which increased 0.76%. Unus Sed Leo (LEO) rounds up the top gainers in the top 100, and is up 0.23%. Most of the 100 most valuable cryptocurrencies by market capitalization are currently recording losses, with Stacks (STX) being the worst performer, down 16.88% in the last 24 hours.

The Bitcoin and Ethereum ETFs has started trading in Hong Kong, as the city pushes ahead with plans to become a virtual ...
30/04/2024

The Bitcoin and Ethereum ETFs has started trading in Hong Kong, as the city pushes ahead with plans to become a virtual assets trading hub despite strict controls in mainland China.

Data released from London-based investment firm, Farside Investors shows that investors withdrew nearly $218 million fro...
29/04/2024

Data released from London-based investment firm, Farside Investors shows that investors withdrew nearly $218 million from Bitcoin ETFs as US Economic Growth Slows .

🇺🇸

CHOKER! CHOKER!! CHOKER!!! – A 100 VOICE ECHO-ED. That happened in Markudi’18, I already told the event in my last story...
26/04/2024

CHOKER! CHOKER!! CHOKER!!! – A 100 VOICE ECHO-ED.

That happened in Markudi’18, I already told the event in my last story. During my final phase in Uniport, for a reason, my colleagues always suggested I take the platform first, but why? I will explain, but first…

WHY AM I CALLED THE CHOKER? When choked, it’s a symbol that we need to give that thing maximum attention to be liberated (maybe a bone in the throat), or it’s a symbol that something/someone has left us breathless, marveled, or stolen our rapt attention.

Whenever I take on the stage as a Choker, it means I’m about to marvel you, trigger your chilled dopa, and exceed your expectations with my powerful combination of words, gestures, body movement, and audience engagement.

Cynthia Maduekwe timeline has exposed me to a wide range of opportunities, and her accomplishment still motivates me. I must commend her humility from the onset of knowing her. She has prepared a table before me, (representing XyciMedia) on the 9th of May, 2024.

Back to paragraph one. My colleagues always wanted me to start the presentation first because I was very good at “Choking my Lecturer”. Guess what, 3/5 times I started, I didn’t only trigger my lecturers, but I also made the entire class chant, all for the vibes fam.

DEAR UNICAL, THE CHOKER IS COMING, ARE YOU READY TO GET CHOKED? THE COMMENT BOX OPEN.

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