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| Here is a look at the hits from today's Inside Cryptocurrency briefing: - Coinbase Wallet's new feature that allows users to transfer crypto through a link,
- The nationwide expansion of Nova Labs' blockchain-based mobile plan,
- Anotherblock's plans to release Michael Jackson's first-ever studio recording from 1967 on the blockchain, and more.
Enjoy your reading! Doğa
p/dogayurduneri | |
| 1 | | Coinbase, the largest U.S. crypto exchange, has rolled out a new feature to allow users of its digital wallet app, Coinbase Wallet, to transfer crypto with a link that can be sent through social media platforms, messaging apps, and email. The firm said users can now send crypto to each other on any platform where they can share a link, such as WhatsApp, Telegram, iMessage, Facebook, Instagram, TikTok, and Snapchat. More: - The feature requires both the sender and the recipient to have a Coinbase Wallet account to complete the transfer.
- The recipients who do not possess a wallet on Coinbase will be directed to their devices' app stores to download the app and create a wallet when they click on the link.
- If the recipient does not claim the funds within two weeks, they will be automatically returned to the sender.
- All the transfers made through a link will be settled instantly and for free.
- Coinbase also launched a new simple mode on Coinbase Wallet that only shows basic functions like buying, sending, receiving, and viewing assets on the app.
- Both features aim to make Coinbase Wallet more accessible.
Zoom Out: - Coinbase Wallet is currently available to users across more than 170 countries.
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What the numbers say: Bitcoin (BTC) has started ranking among the world's top 10 assets by market cap following a recent upward trend in its price. The popular token placed ninth with its $855.76B market cap, ahead of 10th-place Meta Platforms. The top five spots were occupied by Gold, Apple, Microsoft, Saudi Aramco, and Alphabet, respectively. The ranking covers all asset classes, including public companies, precious metals, cryptocurrencies, and exchange-traded funds (ETFs). Bitcoin has become the only cryptocurrency to have managed to rank among the top 10 so far. Relevance: Bitcoin's rise among the world's most valuable assets followed a recent price rally that also triggered an increase in the token's market cap. The popular cryptocurrency's price recently surpassed the $44,000 level for the first time since April 2022, hitting a nearly 20-month high. Then, the token also managed to stick to the $44,000 level without seeing a major decline in its value. The new price mark represents an increase of over 165% from the $16,000 level at the beginning of the year. Brands that should care: On the other hand, Bitcoin also surpassed several giant brands in market cap as an asset class, removing some of them from the top 10, with the impact of the latest price rally. These brands include American conglomerate Berkshire Hathaway, electric vehicle (EV) giant Tesla, the pharmaceutical company Eli Lilly, and the payment processing firm Visa. | | | |
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| 3 | | The U.S.-based tech giant IBM has launched a new cold storage solution dubbed IBM Hyper Protect Offline Signing Orchestrator (OSO) for digital assets. The new end-to-end encryption service will allow clients to store and manage their crypto funds offline, addressing common vulnerabilities in typical cold storage solutions. More: - IBM said the new storage tech is currently used by several leading banks and Swiss crypto custody firm Metaco, backed by payment protocol Ripple.
- The firm pointed out that the typical cold storage solutions come with limitations stemming from human interaction, such as privileged administrator access, operational costs, errors, coercion attacks, and the inability to truly scale.
- The OSO aims to address these vulnerabilities by removing the manual processes and functions of initiating and conducting transactions.
- The system is also designed to only send transactions between cold storage and blockchain at specific times and through authorization by multiple parties.
- In this way, bad actors are forced to initiate the transaction only during approved times and wait until the transaction is approved to steal the assets, even if they could somehow access the system.
Zoom Out: - Cold storage solutions allow users to store their crypto assets without internet connectivity, making the process less susceptible to hacks and online attacks and more suitable for long-term storage.
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| 4 | | Nova Labs, a U.S.-based blockchain startup developing a decentralized wireless network, has announced that it would expand its blockchain-based mobile plan nationwide from just one city. The plan will offer access to unlimited text, talk, and data to customers across the U.S. using blockchain technology for $20 a month. More: - The mobile plan was previously limited to only Miami residents and launched with a monthly price tag of $5 in August under the firm's Helium Mobile brand.
- Nova Labs CEO Amir Haleem said the plan's success in Miami paved the way for the new $20 nationwide offering.
- The network is mainly powered by wireless hotspots owned by individuals and businesses across the U.S.
- Outdoor versions of the hotspots can be bought for $499, while the indoor version is priced at $249.
- The hotspot owners earn 50 cents in MOBILE tokens for each gigabyte of data provided to the customers.
- When the phones are out of the coverage area of a hotspot, they automatically switch to the wireless network of T-Mobile, the second-largest U.S. carrier.
Zoom Out: - Nova Labs, previously known as Helium Inc., was founded in 2013 and shifted its focus to crypto in 2018.
- In addition to the Helium Mobile service, the firm also offers connectivity for wireless devices like pet-tracking collars and environmental sensors, rewarding hotspot owners in crypto for offering coverage.
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| 5 | | Dogecoin (DOGE), the ninth-largest cryptocurrency by market cap, has celebrated its 10th anniversary today with a more than 16% price increase. The latest rally caused the popular meme coin to surpass the $0.10 mark for the first time in a year. More: - Dogecoin was launched on Dec. 6, 2013, by its creators, Billy Markus and Jackson Palmer.
- The last time DOGE hit $0.10 coincides with the token's previous anniversary a year ago on Dec. 7, 2022.
- However, the popular cryptocurrency is still 86% below its all-time high of $0.73 in May 2021.
- Amid a broader upward trend in the crypto market, several other meme coins, including Shiba Inu (SHIB) and Pepe (PEPE), also experienced notable price surges within the last 24 hours.
- The total market cap of all meme coins recently reached $23.4B, with $14.4B occupied by Dogecoin alone.
Zoom Out: - A meme coin is a type of cryptocurrency originating from an internet meme and mostly having some humorous characteristics.
- Dogecoin was the first meme coin and was created as a parody of Bitcoin (BTC), the largest cryptocurrency by market cap, though it later became enormously famous in its own right.
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| 6 | | Swedish blockchain-based music platform Anotherblock has announced that it would release the legendary musician Michael Jackson's first-ever studio recording, which was kept hidden for over five decades, on the blockchain on Dec. 7. The recording of the track titled Big Boy (One-Derful Version) will be available for 48 hours as an open and limited edition. More: - The recording, captured on July 13, 1967, features 8-year-old Michael Jackson singing the song with his brothers in their first studio session at One-Derful in Chicago.
- The track will be released as a digital vinyl, which refers to a digital recording directly transferred from the mastering in the studio.
- Users will be able to access the track through Anotherblock's player, along with the images of the master tape and song stems.
- The release will be the product of a partnership between Anotherblock and Recordpool, the owner of the recording.
- Michael Jackson's mother, Katherine Jackson, said the move demonstrates that her son's story remains timeless.
Zoom Out: - Anotherblock also previously worked with some of the other most famous musicians, including Rihanna, Justin Bieber, and The Weeknd.
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| 7 | | Quick Hits: - The Kubernetes Cookbook is your comprehensive companion, equipping you with the knowledge and techniques to harness the full potential of Kubernetes.*
- Société Générale, France's third-largest bank, has debuted its native euro-pegged stablecoin, EUR CoinVertible (EURCV), on the Luxembourg-based crypto exchange Bitstamp.
- Speaking at a recent interview, crypto exchange Binance's new CEO, Richard Teng, has stated that the company's compliance systems were inadequate in the past and the previous management made mistakes.
- Utah-based crypto company Digital Licensing Inc., operating as DEBT Box, has asked the court to dismiss the U.S. Securities and Exchange Commission's lawsuit against it several days after Judge Robert Shelby discovered notable discrepancies in the case.
- Toast to 2024: Key affiliate marketing trends to help your campaigns start off on the right foot in the new year. Get the free report.*
*This is a sponsored post. | | | |
 | Staff Writer | | Doga is a tech and science editor who has been writing news for nearly 10 years. She worked for leading tech platforms and mainstrem media channels as an editor and presenter throughout his career. Then, she carried her know-how to more than one platform. She is a part-time cat lover and binge-watcher, and also fond of science, space, and emerging tech. She always has a story to tell. She is a bit addict to the laughter and -unfortunately- the '90s culture. | | This newsletter was edited by Aaron Crutchfield | |
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