Category: Cryptocurrency

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Digital Twins of Cigar and Watch Brand Will Be Presented
on October 1-2 in Geneva, Switzerland

GENEVA, Switzerland, Sept. 30, 2024 /PRNewswire/ — MetaMinds, a metaverse and spatialweb technology company an entity within Zilliqa Group, is excited to announce its partnership with Cyrus Watches Genève and Patoro Cigars to create a unique augmented reality (AR) experience at the Luxury Innovation Summit. The event is the 6th annual gathering by Luxury Venture Group that showcases the latest trends and technologies in the luxury industry, taking place on October 1-2 in Geneva, Switzerland. It attracts C-level executives and leadership of international brands including LVMH, Kering, Chalhoub Group, etc.

This collaboration positions MetaMinds as the technology partner and leader in creating engaging and interactive experiences that enhance brand visibility and unlocks new ways of customer acquisition, especially appealing to brands entering the ‘engagement economy’ and targeting Gen Z audiences.

In 2024, the revenue in the cigars market worldwide so far amounts to US $23.4 bn with a projected CAGR of 4.12% from 2024 to 2029. It generated the highest revenue of US $13,330 mln in the United States this year when compared globally. The total luxury goods market has declined by 1-3% according to a study by Bain and Company causing the transformation that prioritizes experiences, emotional connections, and personalization, aligning with the needs and desires of modern consumers.

“The luxury industry is facing a profound shift, and we are excited to work with Cyrus Watches and Patoro Cigars, pioneers in embracing the innovative approach required to address declining customer demand. Moreover, luxury continues to evolve and is transforming into a lifestyle, rather than a mere product. We at MetaMinds aim to close this gap for luxury brands and help them tap into the ‘experience economy’ through technological means such as bespoke virtual worlds and spatialweb XR pillars by creating the virtual user interface for a web3 integrated CX (customer experience) journey,” – mentioned Sandra Helou, CEO and Co-Founder of MetaMinds Group.

The AR experience designed aims to reflect the craftsmanship required for both the watch and cigar industries by creating new means of engagement for the growing markets and helping brands transition into experiences and the production of digital twins for education and phygital ROI purposes. This occurs through integrating gamification elements, creating crafted digital assets and facilitating user-generated content (UGC) to promote the luxury brands products through immersive experiences.

“Attendees will be able to explore exquisite digital representations of Cyrus Watches, featuring customizable colourways, and Patoro Cigars with the ability to understand more about the industry. Our vision is the “Conquest of innovation and this is the first step in embracing spatialweb technology addressing the market changes and requirements of consumer behavior,” – shared Cyrus Watches and Patoro Cigars Owner, Dr. Pablo Richard.

“We are thrilled to welcome Zilliqa Group, a web3 venture builder which MetaMinds is an entity of, for a consecutive year at our event along with LVMH, Richemont, Chalhoub Group, Kering and others. What makes the Luxury Innovation Summit unique this year is the collaboration between MetaMinds and Cyrus and Patoro that will create an immersive and unforgettable experience for our audience and a vision that we want to carry forward across our Luxury Venture Group portfolio and grow,” – said Deependra Pandey, CEO of Luxury Venture Group.

The wider public not in attendance will have a chance to experience the AR products post-event available on the MetaMinds platform. Specifically, Klepcys Dice and Klepcys GMT Retrograde collections of Cyrus Watches and Patoro Gran Añejo Reserva and Patoro Brasil Cigars.

About Metaminds Group:

Established in 2022 with headquarters in the United Arab Emirates, Dubai – MetaMinds is an award-winning ‘Metaverse as a Service’ and spatialweb (XR) technology company. Providing & developing the infrastructure required for immersive 3D experiences and bespoke virtual worlds (MaaS), spatialweb XR (AR/VR/MR), and ROI-generating engagement models helping brands tap into the ‘Experience Economy’. Their focus is on providing an end-to-end virtual world and spatialweb platform accessible through a web browser/mobile and VR and the necessary infrastructure and ecosystem toolsets.

MetaMinds is a member of Zilliqa Group, a web3 venture builder which owns and operates Zilliqa Technology a world-leading Layer 1 from Singapore known for its fast, scalable and secure network within the industry.

Connect with Metaminds Group:

Website | YouTube | LinkedIn | Email

Photo – https://megastockalert.com/wp-content/uploads/2024/10/MM_x_Patoro_x_Cyrus_PR_Post.jpg

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Coinbase Global Inc. (NASDAQ:COIN) saw a significant uptick in its stock price following the announcement that the U.S. Department of Justice (DOJ) has appointed Coinbase Prime as its custody partner. This new development is expected to strengthen Coinbase’s position in the market by providing robust custody solutions to the DOJ, thus enhancing trust and reliability in its services.

The news has been well-received by investors and market analysts alike. The appointment by the DOJ is seen as a strong endorsement of Coinbase’s security protocols and operational capabilities. By securing this partnership, Coinbase is likely to attract more institutional investors who prioritize security and regulatory compliance.

Coinbase Prime is a comprehensive platform designed specifically for institutional investors, offering a suite of services including secure custody, trading, and data analytics. The platform’s focus on high-level security measures makes it an ideal partner for government entities and large financial institutions.

According to industry experts, this partnership could set a precedent for other government agencies to follow. As regulatory bodies begin to recognize and adopt cryptocurrency solutions, the market is expected to see increased legitimacy and stability.

Moreover, this move by the DOJ aligns with its broader strategy to integrate blockchain technology into its operations. By leveraging Coinbase Prime’s secure infrastructure, the DOJ aims to enhance its operational efficiency and data security. This partnership also highlights the growing acceptance and adoption of cryptocurrency solutions by mainstream institutions.

In response to the announcement, Coinbase’s stock experienced a notable surge. The market’s reaction underscores the significant impact that institutional endorsements can have on the cryptocurrency sector. Investors are optimistic that this partnership will lead to further growth and development for Coinbase.

The cryptocurrency market, known for its volatility, often responds dramatically to news related to regulatory developments and institutional adoption. Coinbase’s recent stock performance is a clear example of how positive news can drive investor confidence and market value.

Looking ahead, Coinbase plans to expand its institutional services and continue building partnerships with key stakeholders. The company is committed to enhancing its platform to meet the evolving needs of its clients, ensuring that it remains at the forefront of the cryptocurrency market.

This partnership with the DOJ not only boosts Coinbase’s market position but also reinforces the credibility of the cryptocurrency industry as a whole. As more government entities and financial institutions recognize the value of secure, compliant cryptocurrency solutions, the market is poised for sustained growth and innovation.

In conclusion, the appointment of Coinbase Prime as the DOJ’s custody partner marks a significant milestone for both Coinbase and the broader cryptocurrency market. This development underscores the importance of regulatory compliance and security in driving institutional adoption and market confidence.

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Today marks a significant milestone in the crypto market as Spot Ether ETFs start trading. This development is anticipated to open new avenues for investors looking to diversify their portfolios with cryptocurrency assets. The introduction of these ETFs is expected to provide a more regulated and accessible way for investors to gain exposure to Ether (ETH), the second-largest cryptocurrency by market capitalization.

Spot Ether ETFs are designed to track the price of Ether directly, unlike futures-based ETFs that track the price of Ether futures contracts. This means that investors can now gain direct exposure to the price movements of Ether without having to purchase and store the cryptocurrency themselves. This is particularly appealing for those who are wary of the complexities and security risks associated with holding digital assets.

One of the key players in the launch of Spot Ether ETFs is VanEck, a global investment management firm. VanEck’s Spot Ether ETF is listed on the NASDAQ stock exchange under the ticker symbol ETHX. This ETF aims to provide investors with a seamless and cost-effective way to invest in Ether, leveraging the security and regulatory framework of traditional financial markets.

Another noteworthy entrant is WisdomTree, which has also launched its Spot Ether ETF on the NYSE Arca under the ticker symbol ETHE. WisdomTree’s offering is designed to appeal to institutional investors, providing them with a secure and liquid vehicle to invest in Ether. The ETF will hold Ether directly, ensuring that its performance closely mirrors the price of the underlying asset.

The introduction of Spot Ether ETFs is expected to bring several benefits to the market. Firstly, it could lead to increased demand for Ether, as more investors gain exposure to the asset through these regulated financial products. This, in turn, could drive up the price of Ether, benefiting existing holders of the cryptocurrency. Secondly, the availability of these ETFs could enhance market liquidity, making it easier for investors to buy and sell Ether without significantly impacting its price.

However, there are also potential risks associated with investing in Spot Ether ETFs. One of the primary concerns is the volatility of Ether’s price. Cryptocurrency markets are known for their high volatility, and investors in Ether ETFs should be prepared for significant price fluctuations. Additionally, regulatory changes could impact the availability and performance of these ETFs. It is essential for investors to stay informed about the regulatory landscape and any potential changes that could affect their investments.

Despite these risks, the launch of Spot Ether ETFs represents a positive step for the cryptocurrency market. It signifies growing acceptance and integration of digital assets into the traditional financial system. As more investors gain access to Ether through these ETFs, it could lead to greater adoption and utilization of the cryptocurrency, further solidifying its position in the financial ecosystem.

In conclusion, the introduction of Spot Ether ETFs is a landmark event that has the potential to significantly impact the crypto market. By providing a regulated and accessible way for investors to gain exposure to Ether, these ETFs could drive increased demand and liquidity for the cryptocurrency. While there are risks to consider, the overall outlook for Spot Ether ETFs appears promising, making them an attractive option for investors looking to diversify their portfolios with digital assets.

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The cryptocurrency market has seen notable fluctuations today, with various digital assets experiencing significant price movements. Bitcoin (BTC-USD), the leading cryptocurrency, has shown a 2.5% increase over the past 24 hours, reaching $30,000. This rise is attributed to renewed investor interest and positive market sentiment.

Ethereum (ETH-USD), the second-largest cryptocurrency by market capitalization, has also seen an upward trend. Ethereum’s price surged by 3.1%, trading at $1,800. This increase is partly due to the growing adoption of decentralized finance (DeFi) applications, which continue to attract more users and developers to the Ethereum network.

Another notable performer is Ripple (XRP-USD), which recorded a 4% increase, bringing its price to $0.65. Ripple’s recent price hike can be linked to positive developments in its ongoing legal battles, which have given investors renewed confidence in the asset.

However, not all cryptocurrencies have experienced gains. Dogecoin (DOGE-USD) saw a 1.8% decline, dropping to $0.20. This decrease is mainly due to a lack of significant news or developments related to Dogecoin, causing some investors to shift their focus to other assets.

In addition to these major cryptocurrencies, several altcoins have also shown noteworthy movements. Cardano (ADA-USD) rose by 2.7%, reaching $1.25, thanks to the continued progress of its smart contract capabilities. On the other hand, Polkadot (DOT-USD) has experienced a slight dip of 0.9%, trading at $14.50. Despite the minor decline, Polkadot remains a popular choice among investors due to its interoperability features.

Overall, the cryptocurrency market continues to be highly volatile, with prices subject to rapid changes based on market sentiment, technological advancements, and regulatory developments. Investors are advised to stay informed and exercise caution when trading digital assets.

The increasing interest in cryptocurrencies is reflected in the rising trading volumes on exchanges. As more institutional investors enter the market, the demand for reliable and secure trading platforms has grown. This trend is likely to continue as traditional financial institutions recognize the potential of digital assets and blockchain technology.

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On July 24, 2024, the cryptocurrency market experienced significant fluctuations. Bitcoin (BTC) saw a notable rise, climbing 3.5% to reach $31,200. This uptrend was attributed to renewed institutional interest and positive market sentiment. Ethereum (ETH) also followed suit, increasing by 2.8% to hit $1,950, driven by advancements in its network upgrades and growing DeFi activities.

Among the altcoins, Cardano (ADA) surged by 5.2% to $0.38, buoyed by developments in its smart contract capabilities. Solana (SOL) saw a 4.3% rise, trading at $24.50, as it continued to attract developers and projects to its ecosystem. However, not all cryptocurrencies enjoyed gains; Ripple (XRP) experienced a slight dip, falling by 1.2% to $0.68 amid ongoing legal challenges.

The overall market capitalization of the cryptocurrency market grew by 3%, reaching $1.35 trillion. This growth was reflected in the increasing trading volumes across major exchanges, indicating heightened investor interest. Analysts suggest that the recent price movements could be a precursor to a more sustained bullish trend, especially if macroeconomic conditions remain favorable.

Despite the positive movements, market experts remain cautious. The volatility of the cryptocurrency market means that prices can change rapidly, influenced by factors such as regulatory news, technological advancements, and macroeconomic trends. Investors are advised to stay informed and consider the inherent risks associated with cryptocurrency investments.

Looking ahead, the market is closely watching the upcoming Ethereum upgrade, which promises to enhance scalability and reduce transaction fees. Additionally, regulatory developments in major economies could play a critical role in shaping the future of cryptocurrencies. The market’s response to these events will likely influence price trends in the coming months.

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In a significant move to bolster its cryptocurrency holdings, Marathon Digital Holdings (NASDAQ:MARA) announced the purchase of $100 million worth of Bitcoin. This acquisition is part of the company’s broader strategy to become one of the largest and most efficient Bitcoin mining operations in North America.

Marathon Digital, a leading digital asset technology company, disclosed the purchase in a recent press release, stating that the transaction was completed on the open market. The company now holds approximately 8,133 BTC, valued at over $400 million at the time of writing. This substantial increase in Bitcoin holdings underscores Marathon’s commitment to its long-term investment strategy in the cryptocurrency sector.

The decision to acquire more Bitcoin comes as part of Marathon’s strategy to enhance shareholder value and increase its exposure to the cryptocurrency market. According to Marathon’s CEO, Fred Thiel, the company believes in the long-term potential of Bitcoin and is confident that its value will continue to appreciate. Thiel emphasized that this purchase aligns with their strategy to build a highly efficient and cost-effective mining operation.

Marathon Digital has been actively expanding its mining capacity to achieve its goal of becoming one of the largest Bitcoin miners globally. The company has entered into several agreements to purchase state-of-the-art mining equipment, which will significantly increase its hash rate and mining efficiency. Marathon expects to have over 133,000 miners in operation by mid-2022, which will generate a hash rate of approximately 13.3 EH/s (exahashes per second).

The acquisition of Bitcoin is also seen as a hedge against potential inflation and currency devaluation. By holding Bitcoin, Marathon aims to protect its assets from the volatility and uncertainty associated with traditional fiat currencies.

This move by Marathon Digital is reflective of a broader trend among institutional investors and publicly traded companies who are increasingly adopting Bitcoin as part of their treasury management strategies. Other notable companies, such as MicroStrategy (NASDAQ:MSTR) and Tesla (NASDAQ:TSLA), have also made significant investments in Bitcoin, further legitimizing the digital asset as a viable investment option.

Despite the volatility inherent in the cryptocurrency market, Marathon Digital remains optimistic about the future of Bitcoin. The company continues to invest in infrastructure and technology to support its mining operations, ensuring that it remains competitive in the rapidly evolving digital asset landscape.

In conclusion, Marathon Digital’s $100 million Bitcoin purchase is a strategic move to strengthen its position in the cryptocurrency market. By increasing its Bitcoin holdings and expanding its mining operations, the company aims to maximize shareholder value and capitalize on the long-term growth potential of digital assets.

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The cryptocurrency market has experienced significant price movements today, driven by a variety of factors ranging from regulatory news to market sentiment. Bitcoin (BTC), the leading cryptocurrency by market capitalization, saw its price fluctuate dramatically, reflecting the volatile nature of the market.

Ethereum (ETH) also experienced notable price changes. The second-largest cryptocurrency by market cap witnessed an upward trend, attributed to the growing interest in decentralized finance (DeFi) applications. This surge in interest has been a major driver for Ethereum’s price increase.

Among the altcoins, Ripple (XRP) and Litecoin (LTC) showed mixed results. Ripple faced a slight decline due to ongoing legal challenges, while Litecoin saw modest gains as it benefited from increased adoption and transaction volume.

Regulatory news has played a crucial role in the market’s movements. Recent announcements from the Securities and Exchange Commission (SEC) regarding potential regulations for cryptocurrency exchanges have created uncertainty. This has led to heightened volatility as investors react to the possibility of stricter regulatory oversight.

Market sentiment remains a key factor influencing price movements. Positive sentiment surrounding the potential for mainstream adoption of cryptocurrencies has fueled bullish trends. Conversely, negative news such as security breaches or market manipulation reports can trigger sharp declines.

Bitcoin’s price fluctuation is particularly significant given its influence on the broader market. As the flagship cryptocurrency, Bitcoin often sets the tone for other digital assets. Its recent price swings have been attributed to a combination of profit-taking by investors and macroeconomic factors such as inflation concerns and interest rate changes.

Ethereum’s price rise is closely linked to its role in the DeFi space. DeFi platforms, which operate on the Ethereum blockchain, allow users to engage in a range of financial activities without traditional intermediaries. The growing popularity of these platforms has increased demand for Ethereum, driving up its price.

Ripple’s legal challenges, stemming from a lawsuit filed by the SEC, have created uncertainty around its future. The outcome of this case could have far-reaching implications for XRP and other cryptocurrencies. Investors are closely monitoring developments, and any news related to the lawsuit can cause significant price movements.

Litecoin, often considered the silver to Bitcoin’s gold, has seen increased usage in transactions due to its faster block generation time and lower fees. This has made it a popular choice for everyday transactions, contributing to its recent price gains.

Overall, the cryptocurrency market remains highly dynamic, with prices subject to rapid changes based on a multitude of factors. Investors should stay informed about regulatory developments, market sentiment, and technological advancements to navigate this volatile market effectively.

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The cryptocurrency market has been characterized by significant volatility in recent weeks, with Ethereum (ETH) seeing notable fluctuations. Despite the turbulence, there has been a positive turn in ETF inflows for Ethereum, marking a significant shift in investor sentiment.

Recent data indicates that inflows into Ethereum ETFs have turned positive after a period of outflows. This change is indicative of renewed confidence among investors, who are once again seeing the potential in Ethereum’s long-term value proposition.

Ethereum, often considered the second most important cryptocurrency after Bitcoin, has faced its share of challenges. However, its underlying technology, particularly the Ethereum blockchain and its smart contract capabilities, continues to attract interest from institutional investors.

One of the key factors contributing to this positive inflow is the growing adoption of decentralized finance (DeFi) platforms, many of which are built on the Ethereum blockchain. These platforms offer a range of financial services without the need for traditional intermediaries, making them attractive to a tech-savvy and financially innovative audience.

Furthermore, the anticipation of Ethereum 2.0, an upgrade intended to improve the scalability, security, and sustainability of the network, has been a strong driver of market sentiment. This upgrade is expected to transition Ethereum from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, reducing the environmental impact and potentially increasing the network’s efficiency.

In the broader market, cryptocurrency prices have been affected by various factors, including regulatory developments, macroeconomic trends, and technological advancements. For instance, recent regulatory scrutiny in major economies has created a cautious environment, yet it has not dampened the enthusiasm for Ethereum ETFs.

In addition to the positive inflows, the market has seen increased interest in Ethereum-based products from institutional investors. This trend is likely to continue as more financial instruments linked to Ethereum become available, offering diversified exposure to the cryptocurrency market.

The performance of Ethereum ETFs is also closely monitored by analysts who consider them a barometer of broader market trends. The positive inflows suggest that, despite short-term volatility, the long-term investment thesis for Ethereum remains strong.

In summary, the turnaround in Ethereum ETF inflows signifies a renewed confidence among investors in the potential of Ethereum. As the cryptocurrency market continues to evolve, Ethereum’s role as a foundational technology for decentralized applications and financial innovation places it in a strong position to benefit from future growth.

Investors and market participants will be watching closely to see how Ethereum performs amid ongoing market developments and the upcoming Ethereum 2.0 upgrade. The positive inflows into ETFs are a promising sign that, despite the challenges, Ethereum continues to hold a significant place in the world of digital assets.

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The Federal Reserve’s recent rate cuts have far-reaching implications, particularly for stablecoin issuers. These issuers, who traditionally rely on earning interest from reserves, may face a significant decrease in income. With interest rates dropping, the return on reserve assets held in traditional banks and financial institutions diminishes. This reduction in revenue could lead stablecoin companies to explore alternative revenue streams or cost-cutting measures to maintain profitability.

Stablecoins like Tether (USD₮) are pegged to traditional currencies and backed by reserve assets. The interest earned on these reserves is a substantial income source for these issuers. For instance, if a stablecoin issuer holds a billion dollars in reserves, even a small interest rate reduction can translate to millions in lost income annually. As a result, issuers might need to adjust their financial strategies to adapt to this new economic environment.

Moreover, the broader cryptocurrency market could experience ripple effects from these changes. Reduced income for stablecoin issuers might lead to higher transaction fees or other costs being passed onto consumers, potentially affecting the overall adoption and usage of stablecoins in everyday transactions. Companies deeply integrated with stablecoins, such as exchanges and payment processors, may also feel the financial strain.

It’s worth noting that while the current economic outlook seems challenging, it might also spur innovation within the stablecoin sector. Issuers may seek to diversify their portfolios or invest in higher-yielding assets. Additionally, the potential for regulatory changes could influence how these companies operate and manage their reserves.

In the end, the Federal Reserve’s monetary policies play a crucial role in shaping the financial landscape. For stablecoin issuers, staying agile and responsive to these changes will be essential for long-term sustainability.

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Bitcoin is once again flirting with the $70,000 mark as signs of inflation easing have provided some relief to investors ahead of the Federal Reserve’s upcoming meeting. This renewed interest in the cryptocurrency market comes amid broader economic signals suggesting a potential slowdown in inflation, which has been a significant concern for the global economy.

Over the past few weeks, Bitcoin has seen a surge in demand, driven by the anticipation of a less aggressive monetary policy stance from the Federal Reserve. The central bank’s next meeting is expected to provide further insights into their strategy for managing inflation and interest rates, which could have substantial implications for both traditional and digital markets.

Investors are closely watching the Federal Reserve’s moves, hoping for indications that the era of aggressive rate hikes may be coming to an end. Such a shift would likely benefit riskier assets like Bitcoin, which have been under pressure as interest rates have risen. The prospect of a more dovish Fed has already led to a rally in equity markets, with tech stocks and other high-growth sectors experiencing significant gains.

In addition to macroeconomic factors, Bitcoin’s recent price action has been influenced by several positive developments within the cryptocurrency industry. Notably, there has been a wave of institutional interest, with major financial firms exploring ways to integrate Bitcoin and other digital assets into their offerings. This growing acceptance is seen as a crucial step toward the mainstream adoption of cryptocurrencies.

Moreover, regulatory clarity in various jurisdictions has helped alleviate some of the uncertainties that have previously weighed on the market. For instance, the approval of Bitcoin exchange-traded funds (ETFs) in multiple countries has opened new avenues for investment, attracting a broader range of market participants.

Despite the bullish sentiment, some analysts caution that Bitcoin’s volatility remains a significant risk. The cryptocurrency market is known for its rapid price swings, and past rallies have often been followed by sharp corrections. Investors are advised to approach the market with caution and consider the potential for both substantial gains and losses.

Looking ahead, the outcome of the Federal Reserve’s meeting will be a critical determinant of Bitcoin’s trajectory. If the central bank signals a willingness to pause or slow down rate hikes, it could further fuel the cryptocurrency’s upward momentum. On the other hand, a more hawkish stance could dampen enthusiasm and lead to a pullback in prices.

Overall, Bitcoin’s flirtation with the $70,000 level highlights the complex interplay between macroeconomic trends and the evolving cryptocurrency landscape. As inflation concerns persist and the Federal Reserve’s policy decisions loom large, investors will continue to navigate a dynamic and often unpredictable market environment.

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