State Street Global Advisors has partnered with Galaxy Asset Management to provide advanced digital asset-based strategies, expanding investor access to the digital asset ecosystem beyond cryptocurrencies and bitcoin. “We believe we are in a strong position to make digital assets more accessible to the broader investment community through the creation of new ETFs offering exposure […]
Bitcoin News
Solana Memecoin MEW Partners With LOCUS Animation Studio to Create New 3D Animated Series
PRESS RELEASE. MEW, a cat-themed token on the Solana blockchain, partners with animation studio LOCUS to create a new 3D animated series. MEW is the first worldwide entertainment brand and retail product line started by a memecoin community. LOCUS produces 3D animations and TV series primarily in the Korean market. After raising about .5 million […]
Bitcoin News
Riot Proposes Acquisition of Bitfarms to ‘Create the World’s Largest Publicly Listed Bitcoin Miner’
Riot Platforms has announced a proposal to acquire Bitfarms to create “the world’s largest publicly listed bitcoin miner.” This offer includes cash and Riot stock, representing a 24% premium. Despite the initial rejection from Bitfarms’ Board, the proposal will be directly presented to shareholders. Riot asserts that the acquisition will establish a vertically integrated, geographically […]
Bitcoin News
Report: China Could Be Hoarding Over 5,300 Tonnes of Gold, Might Create Price ‘Perfect Storm’
A recent report from Jan Nieuwenhuijs, an expert in the Chinese gold market, has found that the actual gold reserves held by the People’s Bank of China might comprise over 5,300 tonnes, dwarfing official numbers. Nieuwenhuijs explains China might be a driving force behind increasing gold prices, as the country moves to hoarding gold to […]
Bitcoin News
CONF3RENCE 2024 Unites with BLOCKCHANCE to Create Premier Web3 Event
PRESS RELEASE. CONF3RENCE 2024 and BLOCKCHANCE are thrilled to announce their union, marking the inception of a flagship Web3 event in the Ruhr area, Europe’s economic powerhouse. BLOCKCHANCE has already demonstrated the possibilities of the German Web3 ecosystem. Together, aiming to build a bridge between traditional economy and Web3, this union propels CONF3RENCE to a […]
Bitcoin News
Kremlin Reveals Plans to Create a “Politics-Free” BRICS Blockchain-Based Payments System
Yury Ushakov, an aide of Russian president Vladimir Putin, revealed plans to create a digital blockchain payment system for the BRICS bloc. Ushakov remarked that the countries of the group would benefit from implementing such a system for the use of governments, common people, and businesses, stating that it would be convenient, cost-effective, and “free […]
Bitcoin News
Disney to Acquire $1.5 Billion Stake in Epic Games, Aims to Create Joint Metaverse
Disney, one of the biggest entertainment companies, has decided to acquire a .5 billion stake in Epic Games, makers of the known persistent metaverse platform Fortnite. The companies will collaborate to develop a metaverse featuring Disney-owned intellectual properties (IPs) which will benefit from interaction and coexistence with Fortnite. The Disney Metaverse Is Coming Disney is […]
Bitcoin News
How To Create And Mint Your Own NFTs On The Ethereum Network
The allure of creating your own NFTs and BRC-20 tokens is undeniable. For artists, owning and monetizing their digital creations through NFTs offers a new level of control and potential financial reward. Beyond the realm of art, NFTs can foster passionate communities, grant exclusive access to events, and even act as fundraising tools.
However, stepping into the world of token creation isn’t without its challenges. It demands both a technical understanding of blockchain technology and smart contracts, along with a careful consideration of financial risks and potential regulatory implications. Before diving in, it’s crucial to assess your goals, resources, and risk tolerance. While the possibilities are vast and exciting, responsible and informed action is key to navigating this rapidly evolving landscape.
NFTs, or Non-Fungible Tokens, are digital assets that represent ownership or proof of authenticity for specific items or content. Unlike fungible cryptocurrencies like Bitcoin or Ethereum, NFTs cannot be exchanged on a one-to-one basis due to their unique nature.
NFTs are typically created and traded on blockchain platforms such as Ethereum, Binance Smart Chain, and decentralized marketplaces like OpenSea. These platforms utilize smart contracts to establish ownership and enable transparent and immutable transactions for NFTs.
NFTs can represent a wide range of digital items, including artwork, music, videos, virtual real estate, and collectibles. Each NFT has metadata describing the item it represents and a unique identifier that sets it apart from other NFTs
Creating NFTs On The Ethereum Network
The primary stage in the creation of NFTs involves identifying the content you wish to associate with your NFT. Consider the specific representation you desire for your NFT, whether it be digital artwork, collectibles, virtual real estate, or any other distinct digital item.
In this article, we will use illustrations from OpenSea to guide you on the steps you need to create your own NFTs. OpenSea stands as a leading decentralized marketplace built on the Ethereum blockchain, dedicated to NFTs. It creates a space where users can engage in buying, selling, and discovering an extensive array of digital assets, encompassing artwork, virtual real estate, collectibles, and more.
OpenSea delivers a user-friendly interface, showcasing a vast selection of NFT listings curated from diverse creators and projects. Through OpenSea, users gain the ability to explore the NFT community, partake in auctions, and securely manage their digital assets. With a commitment to fostering the expansion and accessibility of the NFT market, OpenSea ensures a seamless experience for enthusiasts and collectors alike.
This step-by-step guide covers how to create an NFT collection and mint directly to your wallet.
First, visit the original OpenSea website, and click on the “Login” button at the top to connect your preffered wallet.
To figure out the best wallet to use on the Ethereum network, check here.
Next, click on your “Profile Icon” at the top right of your OpenSea interface in order to deploy a smart contract and select “Studio” through the pop-up options.
To initiate the creation of a fresh NFT, simply click the “Create” button located at the top right corner.
When you explore the options, you will find the choice to either Drop a collection or Create/Mint an NFT. Selecting “Create an NFT”. This will enable you to mint an NFT directly into your wallet.
Once you proceed, a fresh “Create an NFT” screen will be presented. If you are using OpenSea Studio tools for the first time to create an NFT, select “Create a new collection.” You will be able to add one NFT to this collection initially, with the option to include more NFTs at a later stage.
After selecting “Create a new collection,” you will be guided through the steps on your screen to deploy a smart contract. This process will enable you to create NFTs for your newly created collection.
To customize your contract, you need to add a logo image, choose a contract name, and designate a token symbol. Additionally, you will need to choose an EVM blockchain. It’s important to note that deploying a smart contract incurs gas fees, and the estimated fees for each blockchain will be displayed. If the fees are higher than anticipated, you can revisit the process at a later time, as they are subject to change based on network activity.
When you are prepared, proceed by clicking on “Continue”. This action will prompt a transaction signature request in your wallet, which will necessitate gas.
Once the process is finalized, you will receive a confirmation message. Proceed to the next step by selecting “Create an NFT” as shown below. :
Having successfully created a smart contract, you are now prepared to generate an NFT. It is important to note that once your item is minted, further editing becomes impossible as it permanently resides on the blockchain. In this case, you will be creating an ERC-1155 NFT, which allows for the creation of multiple copies of the same item.
To begin this phase, upload the media for your NFT, which represents the artwork associated with it. Next, choose the collection in which you wish to mint your NFT.
Subsequently, provide a name for your item and set the desired item supply. The item supply determines the number of copies you wish to mint for the NFT. If you choose 1, then the item will be a one-of-one.
Next, click on the “Create” button at the bottom right, as shown in the above image. A loading message will appear as the item is being minted. To proceed with the minting process, you will need to approve the transaction using your wallet.
Congratulations! You have successfully minted your very first NFT!
Conclusion
Although NFTs and BRC-20 tokens have distinct functions and operate on separate blockchains, they both contribute to the growing realm of blockchain-based digital assets. NFTs have captured widespread interest for their exceptional nature and capacity to represent ownership of digital assets.
Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?
BNB, the native token of the Binance Smart Chain, experienced a drop on Friday, showing a huge red candlestick after opening at around 5 and moving downward toward 7.93.
This downward move began with a rejection at 2.53 on Wednesday, thereby creating resistance at the same level. At the time of writing, the price still shows strong signs of moving downward to its previous support level of 0.
If this support level is unable to hold, then the price might continue downward to the next support level at 3.93. But, if the support does hold, we might see the price bounce back and move upward to create a new high for the year. However, the price is still above the 100-day moving average, which is usually a bullish sign for the price.
Technical Indicators Point Toward Sustained Downtrend For BNB
To figure out where the BNB price might be headed next, several indicators can be used to examine the chart;
4-Hour MACD: We can see that the histogram is below the zero line, thereby suggesting a downward trend.
SOURCE: Tradingview
We can also see that the MACD line has crossed below the signal line, pointing toward a sustained bearish trend.
1-Day MACD: From the daily chart, we can confirm that both the MACD line and signal line have crossed and are heading toward the zero line, while the histogram is already below the zero line, indicating further downward movement.
SOURCE: Tradingview
4-Hour Alligator Using the alligator indicator to examine the chart on the 4-hour timeframe, we can see that the jaw, the teeth, and the lips are all facing downward and are separated from each other. This has historically been a bearish signal and suggests further downward momentum.
SOURCE: Tradingview
1-Day Alligator: Also, looking at the alligator indicator from the daily chart, it can be seen that the alligator lip [green line] and the teeth [red line] are showing signs of cross over the jaw [blue line], suggesting a downward movement
SOURCE: Tradingview
Final Thoughts
Although the MACD and the Alligator are popular indicators, it should be noted that they are not infallible, and traders frequently combine them with other technical analysis tools to help them make better trading decisions.
Furthermore, false signals can happen, particularly in erratic or sideways markets, so it’s critical to take the larger market context into account.
These Events Will Create A Bitcoin Crash In March: Arthur Hayes
Arthur Hayes, the founder of BitMEX, in his latest essay, presents a foreboding prediction for the Bitcoin market in March, anticipating a severe correction of 30-40%. His detailed analysis, rooted in a deep understanding of market dynamics, outlines the complexities and driving factors behind this expected crash, respectively healthy but deep correction.
Hayes begins his discourse with a cautionary reminder of the nascent state of the crypto bull market, warning enthusiasts not to be overly carried away. “The crypto bull market is in its early stages, and we must not get carried away with our enthusiasm,” he says, highlighting the uncertain journey towards the inevitable collapse of the fiat financial system.
Why The Bitcoin Price Could Fall 40% In March
His prediction revolves around three key financial events and indicators converging in March. Hayes first points to the anticipated decline in the Reverse Repo Program (RRP) Balance to a critical level of 0 billion, a scenario he believes will trigger market anxiety about future sources of dollar liquidity. He describes this threshold as a moment of reckoning, “When this number gets close to zero… the market will wonder what is next,” underscoring the gravity of this anticipated development.
The second pivotal factor is the fate of the Bank Term Funding Program (BTFP), which is due to expire on March 12th. Hayes portrays this as a significant test for the financial system, speculating on the decision-making process of the US Treasury in the face of potential liquidity crises among banks. He articulates the market’s anticipatory stance, suggesting that “the market will start getting inquisitive many weeks before about whether or not the banks will continue receiving this lifeline.”
The final piece in Hayes’ forecast is the Federal Reserve’s meeting on March 20th, where a rate cut is expected. This decision, in Hayes’ view, is crucial for setting market expectations and influencing the dynamics surrounding dollar liquidity provision by the Fed and the US Treasury Department.
Hayes then delves deeper into his tactical trading strategy in response to these events, detailing his plans to short the crypto market using Bitcoin puts. He articulates his approach, saying, “I will look to buy a sizable put option position on Bitcoin around this time,” signaling his preparedness to leverage the anticipated market shift.
An important aspect of Hayes’ analysis is the potential impact of the US-listed spot Bitcoin Exchange Traded Funds (ETFs). He argues that the anticipation of substantial fiat capital inflows into these spot ETFs could initially propel Bitcoin’s price to soaring highs. However, he warns that this upsurge could be followed by a dramatic correction, exacerbated by a liquidity squeeze.
“Imagine if the anticipation of hundreds of billions of fiat flowing into these ETFs at a future date propels Bitcoin above ,000,” he says, illustrating the potential for a steep decline. Hayes explains that a market already heightened by ETF speculation would be particularly vulnerable to a sharp correction, potentially worsening the downturn to 30-40% in the event of a liquidity crunch.
How Hayes Will Trade This Scenario
Hayes then shifts to discuss his tactical trading decisions in response to these indicators. He shares his plan to initially short the crypto market using Bitcoin puts, followed by a return to selling US Treasury bills and acquiring more Bitcoin and cryptocurrencies. In explaining his approach, Hayes states, “I will look to buy a sizable put option position on Bitcoin around this time,” indicating his readiness to capitalize on the predicted market downturn.
Furthermore, Hayes details his strategy for Bitcoin puts, explaining the rationale behind choosing puts expiring on June 28th and his approach to selecting the strike price. He emphasizes the importance of timing and market dynamics, noting, “I expect Bitcoin to experience a healthy […] correction from whatever level it has attained by early March.”
In his conclusion, Hayes contemplates various scenarios that could play out differently from his predictions. He considers the implications of a slower decline in the RRP, a potential extension of the BTFP by Yellen, or alternative outcomes of the Fed’s March meeting. He notes that each of these scenarios could lead to different market behaviors, necessitating adjustments in his trading approach.
At press time, BTC traded at ,940.