Friday, 12 November 2021

Market Summary

Market Summary 12 November 2021

Ethereum Name Service Market Cap Hits $1 Billion—Just Days After ENS Airdrop

  • The Ethereum Name Service, or ENS, is the Web 3 version of the domain name system, a method for cataloging the internet and making it easily searchable for users. Unlike DNS, ENS boasts censorship resistance through its .eth domains, which can also be used as crypto addresses for sending and receiving Ethereum-based assets.
  • Anyone who had an ENS name by October 31 can receive the ENS governance tokens at any point until May 4, 2022, and become a member of the DAO. They then use their tokens to delegate power to another user, who will vote on their behalf on issues related to pricing, protocols and treasury usage. In short, it’s like a representative democracy.


Doctors Without Borders is now using blockchain tech for medical record storage

  • At a November 11 press conference, blockchain- based document security company Transcrypts announced a partnership with Doctors Without Borders, or DWB, that began on October 14th. Working together, they have already uploaded 6500 immunization records to the blockchain, with a goal of 76000 by 2022.
  • Most of the recorded immunizations are COVID 19 vaccines, but the company stated that the eventually the goal is to store all patient medical records on the blockchain, where they will be accessible from a patient’s phone. The nascent California based startup was founded last year by Zain Zaidi — then still an electrical engineering student at San Jose State University. The company now counts Paychex, ADP, Zoom, Spirit Airlines and Oracle as its clients.


Universal Forms Metaverse Band Based on Bored Ape Yacht Club NFTs

  • Reimagining the virtual band playbook of Gorillaz with a crypto twist, major music label Universal Music Group announced today that it has formed a “metaverse group” featuring a quartet of characters depicted in the Bored Ape Yacht Club NFT collection.
  • The band, Kingship, is composed of characters pulled from NFTs owned by noted collector Jimmy “j1mmy” McNelis, who recently sold another one of his Bored Ape NFTs for $3.4 million at a Sotheby’s auction. Universal’s “next-gen label” 10:22PM will spearhead the effort.
  • The label will develop music for the band to “perform” in animated and virtual world settings as the online metaverse grows and evolves. Universal also plans to release NFTs based around the band, which can be used for exclusive access into events, and will let existing Bored Ape Yacht Club NFT holders have a first crack at purchasing them.


Miami’s mayor says residents will receive a bitcoin dividend in a MiamiCoin wallet

  • Miami is giving its residents a bitcoin dividend, according to Mayor Francis Suarez.
  • The Miami Mayor announced on CoinDeskTV today that a yield from the staking of the city’s MiamiCoin will be paid directly to residents who acquire a wallet, register for the dividend and pass a verification process. 
  • MiamiCoin is the city’s token derived from the CityCoins protocol, a Stacks-based protocol that allows residents to hold and trade their city’s token. The protocol generates revenue for the city when residents mine tokens, with those running the software receiving 70% of the coins they mint and 30% returning to the municipality in a city wallet.


EPNS Collaborates With World’s Fastest IoT Blockchain IoTeX

  • Under this pilot program, EPNS is building a dedicated channel for IoTeX (see the EPNS litepaper for definitions of channels, services, and more). IoTeX users can subscribe to the IoTeX channel to receive customized notifications to their wallets. Through collaboration with the IoTeX team, we will gain insight into the push notification needs of users of IOT blockchain services and what they want from the EPNS protocol.
  • Decentralized notifications will allow enterprises to actively respond to real world data interactions with IoT devices and smart contracts, receive notifications of IoTeX staking rewards, and reply in a timely manner to governance notifs. Meanwhile, all users can continue to operate within the private, secure ecosystem of IoTeX across different chains, without having to deal with integration pains across many different device and data services. Likewise, all push notifications will now be integrated into the IoTeX ecosystem.


Amid regulatory woes, Binance CEO details France HQ ambitions

  • Binance co-founder and CEO Changpeng Zhao has said that he hopes to obtain digital asset service provider status in France in 2022. The exchange is a leading player in the market globally, accounting for 70% of crypto exchange transactions. 
  • Following Binance’s $116 million initiative with nonprofit French Fintech to build a research hub and accelerator in France, the company now appears to be looking to settle down in the country. This is despite telling Reuters last month that Ireland was a part of its HQ plans. 


Crypto Firm Grayscale Hits $60 Billion AUM, Overtaking Top Gold ETF

  • Digital asset manager Grayscale has topped $60 billion in assets under management (AUM), surpassing the AUM of SPDR Gold Shares, the largest and most liquid gold exchange-traded fund (ETF) in the world.
  • According to the firm’s Wednesday update, Grayscale now controls $60.8 billion in AUM, compared to SDPR Gold Shares’ current AUM of $58.3 billion.
  • The Grayscale Bitcoin Trust (GBTC) accounts for the lion’s share of Grayscale’s AUM, at $43.6 billion, while the Grayscale Ethereum Trust holds $14.9 billion in AUM.


Elon Musk offloads $1.1B in Tesla stock

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