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You Can Now Buy Cardano Wine

You Can Now Buy Cardano Wine – With Cardano

By Daily Hodl Staff • May 14, 2021 // ALTCOINS

Cardano Estates Winery is now accepting smart contract platform Cardano’s ADA token as a means of payment for its red wines.

The Napa Valley, California-based winery says it accepts ADA on purchases made via its website or through social media channels.

Some wine enthusiasts say they’re already using the sixth-largest cryptocurrency by market cap to make purchases.

One such investor is thanking Cardano creator Charles Hoskinson for spreading the news.

The Cardano Estates’ wines available online range in price from $65 to $125, or approximately 35 to 67 ADA.

The Estates and the blockchain bear a similar name, and while Hoskinson is interested in farming, the two entities do not share an origin.

While Cardano Estates does not explicitly state on its website how its name came about, the current owner’s grandfather, Martin Garzoli, traces his roots to Cardano Al Campo, Italy, from where he emigrated over a century ago to live and work in Napa Valley. Edward Lewis Snider is the owner and winemaker.

The Cardano cryptocurrency, on the other hand, is named for Italian mathematician Girolamo Cardano.

Cardano’s ticker symbol ADA pays homage to Augusta Ada Lovelace, who is considered the world’s first computer programmer.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/DrHitch

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MicroStrategy Not Fazed By Musk-Induced Crypto Crash

MicroStrategy Not Fazed By Musk-Induced $300 Billion Crypto Market Crash – Continues To Spend Millions On Bitcoin

By Nick James – May 14, 2021

Bitcoin’s status as a viable asset hasn’t withered even as the market takes a hit from Elon Musk suspending Bitcoin payment for Tesla cars.

In fact, it seems that shrewd entities in the crypto market have grabbed this opportunity to accumulate more coins. One of the largest business intelligence firms in the world, MicroStrategy, is still buying Bitcoin.

In an announcement shared in a tweet by CEO Michael Saylor, MicroStrategy intimates that it has bought an additional 271 BTC worth $15 million at an average price of $55,387 per bitcoin.

Accelerating Pace

The continued accumulation of Bitcoin by big entities like MicroStrategy, Grayscale as well as other crypto whales is a testament to the fact that the top crypto has finally won the battle to go mainstream. MicroStrategy holds around 91,850 BTC, with about $2.241 billion spent on the purchases.

Taking into account the earlier purchases made when BTC was worth less than its current valuation, the average purchase cost of each BTC held by MicroStrategy averages around $24,403.

These details were given by the CEO in his tweet. The firm is still buying BTC despite the market seemingly dragging into a bear market. As of publication, Bitcoin is exchanging at around $50,312, a drop from earlier prices of above $52k just a few hours prior.


(Click image for larger view)

BTC Still Up There

Just like any market, the crypto market has its ups and downs. The downs have always been followed by ups. Over the years since Bitcoin debuted into the global market, people have become used to its downtimes and subsequent bullish cycles.

BTC’s price jump over the last few months is clear evidence of that, especially after the crypto spent a while in a dormant price range.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Nick James and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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Bitcoin whale MicroStrategy buys additional 271 BTC

Bitcoin whale MicroStrategy buys additional 271 BTC

CEO Michael Saylor disclosed the $15 million BTC purchase on Thursday.


Image courtesy of CoinTelegraph

            MAY 13, 2021

MicroStrategy, a Virginia-based business intelligence firm, has added another 271 Bitcoin (BTC) to its strategic reserves, underscoring CEO Michael Saylor’s growing conviction in the digital asset.

The purchases were made through May 13 for an average price of $55,387, Saylor disclosed on Thursday. MicroStrategy now has 91,850 BTC on its books for an average purchase price of $24,403.

MicroStrategy has purchased an additional 271 bitcoins for $15.0 million in cash at an average price of ~$55,387 per #bitcoin. As of 5/13/2021, we #hodl ~91,850 bitcoins acquired for ~$2.241 billion at an average price of ~24,403 per bitcoin. $MSTRhttps://t.co/EwZnRkAt6k

— Michael Saylor (@michael_saylor) May 13, 2021

MicroStrategy also disclosed the purchase to the United States Securities and Exchange Commission through a Form 8-K filing that was submitted on Thursday.

Although MicroStrategy’s purchase appears to have coincided with the latest correction in Bitcoin’s price, which was spurred on by Elon Musk’s sudden decision to stop accepting BTC payments for Tesla vehicles, the business intelligence firm isn’t timing the market. Saylor indicated in February that he doesn’t intend to slow the rate of his company’s BTC purchasin as he snatched up another $1 billion worth of the digital asset.

MicroStrategy sits atop the Bitcoin corporate treasuries list, accounting for 0.437% of the asset’s circulating supply.

MicroStrategy is acquiring Bitcoin on the premise that the digital asset is a dependable store of value in the face of systemic dollar debasement. It has gone as far as issuing debt to expand its Bitcoin portfolio.

The United States’ M2 money supply has exploded since the 2008 financial crisis and, more recently, since the onset of the COVID-19 pandemic. Since February 2020, the money supply has expanded nearly 30% to $19.896 trillion, according to the St. Louis Federal Reserve Bank. To put that in perspective, the year-over-year increase in the M2 money supply had never exceeded 15% until 2020.

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Original article posted on the CoinTelegraph.com site, by Sam Bourgi.

Article re-posted on Markethive by Jeffrey Sloe

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Ethereum ETH Could Close the Month of May Between 35k and 62k

Ethereum (ETH) Could Close the Month of May Between $3.5k and $6.2k

JOHN P. NJUI   •   ETHEREUM (ETH) NEWS •   MAY 13, 2021

  • Timothy Peterson has forecasted that Ethereum could close the month of May at a value of between $3,500 and $6,200
  • His analysis is based on ETH’s seasonal trend of performing well in the first half of the year
  • $4.6k is a possible mid-point value for the monthly close with the higher range of $6.2k seeming likely
  • Short-term, ETH has lost $4k after Elon Musk’s tweet of Tesla no longer accepting BTC

Bitcoin and crypto analyst, Timothy Peterson, has forecasted that Ethereum could close the month of May at a value of between $3,500 and $6,200. Mr. Peterson’s price range is based on Ethereum’s seasonal trend of performing rather well in the first five months of the year.

According to his analysis, Ethereum has a high probability of closing the month of May at the higher end of this range. Mr. Peterson shared his analysis of Ethereum’s price through the following statement and accompanying chart.

Ethereum has strong seasonal trends. Based solely on these historical trends, one could expect $ETH to end May 2021 between $3,500 and $6,200, with a midpoint value of $4,600.

2020 and 2017 were bull years, and since we seem to be in a bull year now, I’m thinking the higher end of this range is more likely.

Ethereum Loses $4k After Elon Tweets About Tesla No Longer Accepting Bitcoin

In the last 24 hours, Ethereum has dipped by 16.67% from $4,200 levels to a local low of $3,500. The pullback was the result of Elon Musk announcing that Tesla would no longer be accepting Bitcoin for car purchases due to the environmental impact of BTC mining.

At the time of writing, Ethereum has somewhat recovered from the dip and is currently trading at $3,766 with the $3,700 price area acting as short-term support. However, chances are that Ethereum revisits the local low of $3,500 as the world digests the Tesla news and realizes that Bitcoin and crypto will continue to thrive regardless of Elon’s comments.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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Quarterback Star Tom Brady Breaks Internet

Quarterback Star Tom Brady Breaks Internet After Showing Interest In Bitcoin

By Olivia Brooke – May 10, 2021

Tom Brady, the American athlete who is widely regarded as the “greatest” quarterback in NFL history is the latest celebrity to show interest in the world’s most valued cryptocurrency Bitcoin.

Brady who has a massive Twitter following of 1.9 million shocked his fans and the cryptocurrency community when he changed his Twitter profile picture to one with him wearing a hoodie, with the “laser eye” a Bitcoin trend which proponents have adopted as a manner of showing support for the asset as it heads to $100,000.


BTCUSD Chart By TradingView (Click image for larger view)

Tom Brady may be a Bitcoin lover after all

The job of influencing the football star to adopt the trend was partly one that the Bitcoin community took upon itself when they noted that rumors of the millionaire athlete buying Bitcoin had been making rounds online.

Bitcoiner Jason Yanowitz clamored for the community to come together and make it possible for Brady to see the laser eyes image. Shortly after Jason’s tweet, Brady would find the image and ask if he should actually adopt the new profile picture. Per usual, Bitcoiners unanimously cheered him on in affirmation, and almost instantly, the athlete changed his profile in support of the movement.

Brady is also a huge fan of NFTs

It comes as no surprise to many that Brady is showing interest in Bitcoin, as he had previously been a key partner with Grayscale Investment, which had previously worked with the NFL for its first major collaboration. Brady continued to reveal his interest in NFTs as he disclosed a while back that he would be launching his own NFT platform dubbed “autograph”.

Fans would be able to purchase digital art from celebrities who would be given access to the platform to create their own NFTs. Brady is not the only high-profile athlete to enter the cryptocurrency industry. A while ago, NFL player Russell Okung who has been a longtime Bitcoin supporter had sought to convert $6.5 million from his $13 million pay to Bitcoin.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe

Galaxy Digital To Acquire BitGo

Galaxy Digital To Acquire BitGo In $1.2 Bln Cash, Stock Deal

By RTTNews Staff Writer   | Published: 5/7/2021 11:02 AM ET

Michael Novogratz’s Galaxy Digital Ventures has agreed to acquire U.S.-based digital asset services firm BitGo in a cash and stock deal valued at about $1.2 billion to become the first full-service financial platform for digital assets. The consideration consists of 33.8 million of newly issued shares of Galaxy Digital common stock and $265 million in cash.

Galaxy Digital will also issue incremental shares of its common stock to BitGo’s shareholders in exchange for BitGo’s net digital assets at close.

“The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalize digital asset ecosystems and blockchain technology,” said Novogratz, CEO and Founder of Galaxy Digital.

BitGo’s product suite is complementary to Galaxy Digital’s existing offerings across Asset Management, Trading, Investment Banking, and Mining. The combined business will be uniquely positioned to serve the entirety of clients’ financial services needs, whether they are storing assets or transacting.

The acquisition will also expand Galaxy Digital’s geographic reach, with the addition of a West Coast office in San Francisco, as well as global offices and a significant international client base.

BitGo shareholders will own approximately 10 percent of the pro forma company. Galaxy Digital will retain substantially all current BitGo employees and enter into employment agreements with key members of the management team.

Upon closing, BitGo CEO and Founder Mike Belshe will join as Deputy CEO of Galaxy Digital and will become a member of the company’s Board of Directors.

The transaction, approved by the boards of directors of both Galaxy Digital and BitGo, is expected to close in the fourth quarter of 2021, subject to closing conditions and regulatory approvals.

Galaxy Digital’s shareholders will also have to approve its domestication as a Delaware corporation and the internal restructuring. Following domestication, it plans for a U.S. listing later this year.

BitGo was the first independent regulated custodian, purpose-built for digital assets. It is a leading custody provider with over $40 billion of assets under custody, serving over 150 exchanges and over 400 institutional clients. BitGo processes over 30 billion monthly transactions and supports the custody of more than 400 coins and tokens

BitGo was granted a DFS Trust Charter license under New York Banking Law by the New York State Department of Financial Services in March this year. It was backed by Galaxy Digital and Goldman Sachs, among others.

For comments and feedback contact: the RTT Staff

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Original article posted on the RTTNews.com site, by RTTNews Staff Writer.

Article re-posted on Markethive by Jeffrey Sloe

Dogecoin dumps

Dogecoin dumps following mention from Elon Musk on Saturday Night Live

While the crowd seemed to enjoy his performance, DOGE traders soured on Elon Musk's shout-out.


Image courtesy of CoinTelegraph

            MAY 09, 2021

Meme cryptocurrency Dogecoin finally got its long-awaited shoutout on Saturday Night Live — but despite hodler hopes, the immediate result has been a violent dump.

First teased by entrepreneur and DOGE cheerleader Elon Musk in late April, the Tesla CEO finally mentioned the digital asset on live television tonight in his opening monologue of the sketch comedy show. The reference was a throwaway line from Musk's mother, who joined him onstage and asked if her Mother's Day gift would be Dogecoin; Musk replied that it would be.

An hour before the episode began, the price of DOGE sat at $.66, down from an all-time high of $.72. A pair of bearish headwinds may have shared responsibility for the pullback: Musk himself seemed to try and get ahead of the hype, urging followers in a Tweet to “invest with caution,” and a host of new data indicates that many investors may be rolling their DOGE profits into other, largecap digital assets.

Additionally, Barry Silbert — the founder and CEO of Digital Currency Group, the parent company of crypto investment vehicle company Grayscale — announced a public short on DOGE via the FTX exchange. In a series of follow-up Tweets, he revealed that the position was $1 million in size, and that any proceeds or remaining funds after closing the short would be donated to charity.

(It’s unclear if Silbert was is using “we” in reference to Digital Currency Group, one of its portfolio companies, or is simply and bizarrely using a plural pronoun in reference to himself).

Many DOGE investors were nonetheless holding out hope for a high-profile shoutout on what looked to be a major pop culture event. NBC, the studio behind SNL, chose for the first time ever to live-stream the episode on Youtube, per the Wall Street Journal.

Even a mention could have significant impact on the price of DOGE as well: the meme currency has proven to be susceptible to price movements based on positive social media volume, and multiple studies have shown that Tweets from Musk often lead to price appreciation. A mention on an even bigger platform was thought to potentially lead to even greater gains.

Leading into the premier of the episode, Alameda Research trader Sam Trabucco (who said in a previous Tweet that he was “studying the typical SNL episode structure to try and understand when a DOGE mention would be the most natural”) speculated that if a joke or mention didn’t come in Musk’s opening monologue, it would be “all over.”

Despite arriving during the monologue, traders nonetheless responded negatively. It remains to be seen if a DOGE-centric skit later in the show can perhaps turn the speculative asset's fortunes around.

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Original article posted on the CoinTelegraph.com site, by Andrew Thurman.

Article re-posted on Markethive by Jeffrey Sloe

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Ethereum ETH has a 19 Probability of hitting 6k

Ethereum (ETH) has a 19% Probability of hitting $6k by End of 2021

JOHN P. NJUI   •   ETHEREUM (ETH) NEWS •   MAY 8, 2021

  • Ethereum has a 19% chance of hitting $6k by the end of 2021
  • Demand for Ethereum has led VanEck to apply for an ETH ETF with the SEC
  • Ethereum markets have had record activity this week with OI on Futures hitting $10 Billion
  • Ethereum on exchanges continue to drop and could signal a new round of growth by ETH

The second most valuable digital asset of Ethereum has a 19% chance of hitting $6k by the end of 2021. The probability of Ethereum hitting this milestone was shared by the team at Unfolded through the following tweet and accompanying chart.

VanEck Files for an Ethereum ETF with the SEC

Demand for Ethereum in the crypto and traditional markets has led to the asset management firm of VanEck filing for an ETH ETF with the SEC.

According to the filing by VanEck to the SEC, the proposed Ethereum exchange-traded fund will not provide direct purchasing and selling of ETH. Instead, the ETF will offer shares that will be traded on the Cboe BZX Exchange. The shares will be backed by Ethereum and their value based on the reported MVIS CryptoCompare Ethereum Benchmark rate.

The SEC is yet to approve any crypto-based ETF in the United States. In addition, the regulatory agency still has several pending Bitcoin ETF applications. Therefore, the chances of an Ethereum ETF being approved immediately are considerably low.

Ethereum Futures Open Interest Hits $10 Billion

In terms of trading activity, the ETH markets continue to break records since the digital asset broke the $3k ceiling with the new month of May. According to data from Skew, total open interest on Ethereum futures has hit $10 billion for the first time as demonstrated through the following chart.

Ethereum Held on Exchanges Continues to Drop

At the same time, on-chain metrics continue to indicate that investors and holders of Ethereum are continually moving their ETH out of exchanges. Such activity is causing a supply shortage of Ethereum and will probably result in a knee-jerk reaction in the form of a price increment. This scenario was forecasted by crypto community member @JA_Maartun as seen in the following screenshot.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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DOGE Becomes a Top 3 Crypto

Dogecoin (DOGE) Becomes a Top 3 Crypto at $0.77, Flippening BNB

JOHN P. NJUI   •   ALTCOIN NEWS   • BINANCE (BNB) NEWS •   MAY 6, 2021

  • Dogecoin is now ranked 4th on Coinmarketcap
  • DOGE has edged out heavyweights such as XRP, Tether (USDT), ADA and Polkadot
  • Dogecoin (DOGE) could become a top 3 digital asset at a value of $0.77
  • This is based on the assumption that BNB’s market cap stays at $100 Billion
  • Dogecoin is once again be set for a pullback but Elon Musk’s SNL appearance might offer additional bullish momentum

The popular meme-coin of Dogecoin (DOGE) is now ranked 4th in terms of market capitalization. At the time of writing, Dogecoin is trading at $0.615 with a market capitalization of $77.92 Billion as seen through the following screenshot courtesy of Coinmarketcap.com.

From the Coinmarketcap rankings, it can be observed that Dogecoin has leaped past crypto heavyweights such as XRP, Tether (USDT), Cardano (ADA) and Polkadot (DOT), on its way to the number 4 spot.

Furthermore, and assuming Binance Coin maintains its market cap at $100 Billion, Dogecoin will become the third most valuable digital asset at a value of $0.77.

The possibility of DOGE flippening Binance Coin (BNB) was explored by CZ who pointed out that such a feat would only be possible through the decentralization aspect of the crypto-verse. His exact statement was as follows.

In crypto, an abandoned meme coin over takes many hard working projects, and currently barking at the top 3 spot. haha…

There are many things in crypto that I don’t understand. Such is the power of decentralization. I like BTC, ETH, BNB, DOGE and more.

John Bollinger Warns of Another Dogecoin Top

However, the inventor of Bollinger Bands, John Bollinger, has once again warned that Dogecoin (DOGE) might have hit a top with the recent all-time high of $0.69663 – Binance rate. Mr. Bollinger shared his analysis of DOGE through the following tweet.

Elon Musk to Host the Saturday Night Live Show on May 8th

To note is that the unofficial CEO of Dogecoin (DOGE), Elon Musk, is scheduled to host Saturday Night Live this Saturday, May 8th.

Therefore, speculation is high that Mr. Musk will probably mention DOGE during the show and introduce the digital asset to millions of viewers in the US and globally. Such a possibility has led many traders to believe that the $1 Dogecoin price target might be achieved on this date.

As a precaution, traders and investors are reminded that DOGE hardly follows technical analysis 100%. Its wild price swings are based on social media discussions and adoption as seen with the Dallas Mavericks. Therefore, trading DOGE on spot markets is highly recommended rather than using high leverage on futures.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe

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The Bitcoin Bull Market

What The ‘Second Leg’ Of The Bitcoin Bull Market Will Look Like

By Olivia Brooke – May 6, 2021

The first phase of the Bitcoin bull market kicked off late last year when Bitcoin crossed $20,000 for the first time since its conception. The market went ballistic as Bitcoin hit $21,458 on the 16th of December and only shed less than $200 at the close of the day.


BTCUSD Chart By TradingView (Click image for larger view)

It was up from then on, and as though Santa was waiting patiently for the bulls, an early Christmas present came in for Bitcoiners on the 2nd of January this year when Bitcoin crossed $30,000 for the first time. At this point, analysts and investors had begun to predict the road ahead.

Bitcoin’s bull market: The journey so far

The general sentiment was bullish and industry players created an entry point around that level, in hopes that Bitcoin would hit the rooftop in the months to come. The coming months were a dream come true for the market as Bitcoin took off meteorically.

The bulls first flirted with $40,000, then $50,000, and continued in that manner until the market hit $60,000 and a mild bear trend took over. The bulls seem to be on pause at the moment, but analysts have argued that the market is moving exactly as it should, and now the founder of the Bitcoin Stock-to-Flow model, PlanB has revealed that there is indeed an incoming phase that the market could witness in the coming months.

The Second Phase of the Bitcoin bull run, and its “second leg”

Per PlanB’s recent analysis, the market is nowhere near its peak, as it has only just begun the journey into new levels.

“Just to confirm that both S2FX model and on-chain signal indicate we are only halfway into this bull market and nowhere near the top.” -PlanB.


(Click image for larger view)

In his most recent assertion, PlanB notes that the bull market has a second leg. From the stock to flow chart above, the “second leg” is used to describe Bitcoin’s price movement pattern over the last decade.

We can see Bitcoin headed to a new level. So, not only is Bitcoin expected to hit $100,000 this year, the asset could swoop in significant gains above that level. More bullishly, the “second leg” shows itself to be the key demarcator between Bitcoin hitting a price of $100,000 and $1,000,000.

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DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Olivia Brooke and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

Visit MarketHive to learn more: http://markethive.com/jeffreysloe