Catégorie : Non classé

Good morning. Here’s what’s happening:

Market moves: Bitcoin retakes $36,000 as the crypto market stabilized after last week’s correction.

Technician’s take: Extreme oversold readings preceded an uptick in BTC.

Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.

Prices

Bitcoin (BTC): $36,547 +0.1%

Ether (ETH): $2,426 -4.6%

Top gainers

Asset
Ticker
Returns
Sector
Cosmos
ATOM
+5.4%
Smart Contract Platform
Bitcoin
BTC
+0.7%
Currency

Top losers

Asset
Ticker
Returns
Sector
Solana
SOL
−8.5%
Smart Contract Platform
Algorand
ALGO
−7.3%
Smart Contract Platform
Filecoin
FIL
−6.4%
Computing

Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges.

Markets

S&P 500: 4,410 +0.2%

DJIA: 34,364 +0.2%

Nasdaq: 13,855 +0.6%

Gold: $1,843 +0.4%

Market moves

Bitcoin’s price rose by as much as $1,834 on a four-hour basis during U.S. trading hours on Monday, after it briefly touched the $34,000 level during Asia’s late afternoon. The overall crypto market stabilized after the broad market correction downward in the past week.

Bitcoin is currently changing hands at around $36,400 and is up slightly in the past 24 hours, according to CoinDesk data. At the time of publication, ether was down slightly, trading at about $2,400. Most of the major alternative coins (altcoins) were in the red.

The U.S. equity market also rebounded in the late afternoon on Monday. Major stock indices tumbled earlier in the day as investors closely watch the Federal Reserve’s first meeting this year, which will take place this week.

While bitcoin and the crypto market appeared to be following the performance of the stock market recently, as CoinDesk reported, the relationship between bitcoin and the Nasdaq 100 stock index, the favored proxy for the tech sector, remains weak – a reminder there are other more important factors that could affect bitcoin and the crypto market.

“For the time being at least, one could say bitcoin’s prices are a combination of some global risk appetite and a lot of the market dynamics in China (and the aftermath of restrictions there),” CoinDesk’s Lawrence Lewitinn wrote. “Those factors’ influences aren’t static, but they explain a lot more than watching the Fed’s every move.”

According to crypto trading data analytic firm Kaiko, despite a sharp sell-off last week, bitcoin’s daily spot trading volume last week was still lower than it was during December’s price plunge.

The average daily spot trading volume of bitcoin on major cryptocurrency exchanges has mostly remained below $5 billion in the past month, down significantly since early fall, Kaiko wrote in its weekly newsletter on Monday. This is partly because Chinese exchanges OKEx and Huobi have suffered volume loss due to the crypto trading ban in China last year.

Technician’s take

Bitcoin Short-Term Bounce Faces Resistance at $40K

Bitcoin (BTC) returned above $35,000 after multiple oversold signals appeared on the charts. The cryptocurrency faces initial resistance at $40,000, which could limit upside over the short term.

Bitcoin is up 3% over the past 24 hours after rising from an intraday low near $33,000, while the broader crypto market has stabilized.

The relative strength index (RSI) on the daily chart registered the most extreme oversold reading since the March 2020 crash. The previous extreme low was on Nov. 20, 2018, which preceded a few months of rangebound price action before a rally took place.

For now, a downtrend of lower price highs since November remains intact, which means sellers could remain active at resistance levels.

Important events

8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia consumer price index (Q4, MoM/YoY)

8:30 a.m. HKT/SGT (12:30 a.m. UTC): National Australia Bank’s business conditions (Dec)

8: 30 a.m. HKT/SGT (12:30 UTC): National Australia Bank’s business confidence (Dec)

Happy Australia Day!

11 p.m. HKT/SGT (3 p.m. UTC): U.S. Consumer Confidence (Jan.)

CoinDesk TV

In case you missed it, here is the most recent episode of « First Mover » on CoinDesk TV:

Crypto Market Lost $1.3T in 2 Months; What’s Going On? White House Set to Release Government-Wide Strategy for Digital Assets

« First Mover » hosts were joined by Marc Lopresti, managing director at The Strategic Funds, for an in-depth analysis on the crypto markets as cryptocurrencies suffer yet another sell-off. Since November, about $1.3 trillion has been wiped out in the total market cap. Plus, what could we expect from the Biden administration’s digital asset strategy that’s reportedly set to release next month? Nyca Partners Executive-in-Residence Matt Homer and CoinDesk Managing Editor for Global Policy & Regulation Nikhilesh De provided their insights. Then CoinDesk Executive Editor Marc Hochstein explained Privacy Week at CoinDesk.

Latest headlines

Singapore VC Blockchain Founders Raises $75M for New Fund: The company has been an early investor in blockchain, crypto, Web 3 and metaverse startups.

Chinese Government Rejects Metaverse Trademark Applications: Report: Those rejected include applications by NetEase, iQiyi and Xiaohongshu.

Investors Put $14M Into Crypto Funds Last Week as Bitcoin Market Cratered: Inflows into digital-asset funds last week – after five straight weeks of outflows – suggest investors were taking advantage of the price dip.

Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency: CBDC’s are an inevitable evolution of today’s electronic currencies, the bank’s analysts said.

Biden Administration to Release Executive Order on Crypto as Early as February: Report: The directive will ask federal agencies to determine the risks and opportunities posed by digital assets.

Longer reads

Who Writes the Story of the Metaverse?: How narratives and memes shape our online future.

Today’s crypto explainer: Crypto Flash Crashes: What You Need to Know

Other voices: Blockchain beyond the hype: What is the strategic business value?

Said and heard

« Surveillance economies power our biggest tech companies. Facebook and Google track our every step to deliver surgical ad strikes that make us hungry to buy more stuff we don’t need, with money we don’t have, to impress people we don’t even know. They track where we go, what we like, who we know and love, and with whom we’re sleeping. » (Author and speaker Daniel Jeffries writing for CoinDesk) … « Well, here’s another take – it’s a bad time to be a day trader, but it’s also a bad time for NFT flippers, whose gains and losses are typically priced in ETH. Even as the price has fallen, the average amount of ETH exchanged for non-fungible tokens in top collections has stayed relatively consistent. » (CoinDesk media and culture reporter Will Gottsegen) … « That is the promise of a virtual world: that you get to be anybody you want, unhampered by flesh, gravity, environment, expectations and economics — or maybe just the record you have created. » (Vanessa Friedman/The New York Times) …

The Blockchain-Based Service Network (BSN), China’s state-sanctioned blockchain infrastructure project, said it is releasing its platform for non-fungible tokens (NFT) in the country today.

The BSN-Distributed Digital Certificate (BSN-DDC) network is a structure for building NFTs that is compliant with Chinese regulations, the organization said in a press release. Authorities in China discourage public networks like Ethereum that are commonly used in the NFT ecosystem.Instead, as CoinDesk reported in October, BSN is making 10 Open Permissioned Blockchains available on the BSN-DDC. These are localized versions of their permissionless counterparts that set restrictions on who can participate in network governance and use fiat currency for payment. DDCs are the same as NFTs, but renamed to emphasize their uses for certification.Five of the 10 chains were named: Ethereum-based Wuhan Chain, Wenchang Chain powered by Cosmos-based IRISnet, Corda-based Zunyi Chain, EOS-based Zhongyi Chain, and FISCO BCOS-based Tai’an Chain.Some platform partners were also announced: The state-owned museum and auction house Rong Bao Zhai Auction, state-backed Hainan International Culture and Artworks Exchange Center – which has acquired the first license for an NFT marketplace in China, consulting firm EY’s blockchain division, video technology provider Sumavison, electronic invoice provider Baiwang and Digital Art Fair Asia, an NFT-focused company from Hong Kong.Another 26 founding partners, as well as the roadmap and governance structure will be announced in a launch ceremony in the city of Nanjing in March.The BSN-DDC is based on the Blockchain Services Network, a platform where developers can build and deploy decentralized applications at a low cost.

Read more: BSN Architect Red Date to Launch NFT Infrastructure in China

YouTube is considering offering non-fungible tokens (NFTs) as a way “to help creators capitalize on emerging technologies including things like NFTs, » CEO Susan Wojcicki wrote in an open letter about the video streaming platform’s 2022 priorities.

Wojcicki said her team is looking ahead to the future and has been following everything happening in Web 3 “as a source of inspiration to continue innovating on YouTube.”“The past year in the world of crypto, non-fungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans,” Wojcicki wrote.On Thursday, social media platform Twitter released an official verification mechanism for NFT profile pictures. This involves users linking their Ethereum wallet to Twitter and using an NFT as a profile picture.CoinDesk contacted Google, which owns YouTube, for further comment but did not hear back at press time.

Good morning. Here’s what’s happening:

Market moves: Bitcoin was trading at over $36,000 on Sunday after continuing its recent decline earlier in the weekend.

Technician’s take: BTC is stabilizing on intraday charts, although $30,000 is a more significant level to watch given the decline in long-term momentum.

Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.

Prices

Bitcoin (BTC): $36,202 +3.4%

Ether (ETH): $2,532 +5.4%

Top gainers

Asset
Ticker
Returns
Sector
Cosmos
ATOM
+3.4%
Smart Contract Platform
`

Top losers

Asset
Ticker
Returns
Sector
Internet Computer
ICP
−9.2%
Computing
Litecoin
LTC
−9.2%
Currency
Filecoin
FIL
−9.0%
Computing
`

Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges.

Markets

S&P 500: 4,397 -1.8%

DJIA: 34,265 -1.3%

Nasdaq: 13,768 -2.7%

Gold: 1,834 -0.2%

Market moves

Bitcoin capped a forgettable three days, dipping below $34,400 at the start of the weekend, before mounting a small comeback on Sunday.

At the time of publication, the world’s largest cryptocurrency by market capitalization was trading well above $36,000, a nearly 3.4% gain over the previous 24 hours but well off its all-time high near $69,000 set in early November. Trading volume was light with many investors continuing to assess troubling economic conditions and a pronounced decline in equities markets.

The tech-heavy Nasdaq fell 2.7% on Friday as investors continued to veer away from stocks that led recent years’ charge in stocks. Two other major indexes, the Dow Jones Industrial Average and S&P 500 fell 1.3% and 1.8%, respectively. The market slump has stemmed from widespread concerns about interest rates, supply chain inefficiency and the ongoing coronavirus, which has been gathering strength in many parts of the U.S. even as it wanes in others.

Ether dipped below $2,400 on Saturday before returning to a base camp above that level, where spent the remainder of the weekend. At the time of publication, the second-largest crypto by market cap, was trading above $2,500, an almost 5.5% rise. Most of the major altcoins spent Sunday in the red.

« The market is holding its breath as investors look to the opening of the Asian markets for a sign of what equities will do this week, » Joe DiPasquale, the CEO of crypto fund BitBull Capital, told CoinDesk. « If Asian markets open strong, we can expect demand for crypto to go up, and even more so if the U.S. markets have a strong Monday.

DiPasquale added that « crypto is still finding its way as to whether it is a digital gold-like hedge that moves inversely with equities, or whether it’s a risk-on asset that will fail if equities continue to fail on Monday as many equity indexes did on Friday. While those most bullish on the investment case for crypto cite longer-term data that point to bitcoin not being correlated with other asset classes, data over the last two years has shown a correlation in the price of bitcoin and equities. »

Technician’s take

Bitcoin Sell-Off Deepens Below $40K; Minor Support Nearby

Bitcoin (BTC) failed to hold short-term support at $40,000 as sellers maintained the two-month long downtrend.

Intraday oversold signals were not enough to sustain bids, which means longer-term indicators are more reliable to determine bitcoin’s price direction.

BTC was trading around $36,200 at press time and is down 17% over the past week.

The slowdown in upside momentum on monthly and weekly charts has been a persistent theme since December. As the long-term uptrend weakens, sellers typically outweigh buyers despite occasional oversold signals.

Further, when drawdowns (percent decline from peak to trough) become severe, short-term traders tend to reduce their position sizes and tighten trade parameters around intraday support and resistance zones.

Bitcoin is roughly 40% below its all-time high of $69,000, which is a significant drawdown. The previous drawdown extreme was in July when BTC settled near $28,000 after falling roughly 50% from its peak.

For now, initial support is around $35,000-$37,000, which could stabilize the current sell-off. The relative strength index (RSI) on the daily chart is the most oversold since May 19, which preceded two months of sideways trading before a rebound occurred.

If selling pressure accelerates this week, BTC could find stronger support around $30,000.

Important events

8:30 a.m. SGT/HKT (12:30 a.m. UTC): Jibun Bank manufacturing purchasing managers index (PMI) (Jan. preliminary)

5 p.m. SGT/HKT (9 a.m. UTC): Euro Zone Markit Manufacturing PMI (Jan. preliminary)

10:45 p.m. SGT/HKT (2:45 p.m. UTC): U.S. Markit Manufacturing PMI (Jan. preliminary)

11:30 p.m. SGT/HKT (3:30 p.m. UTC): Dallas Fed manufacturing index (Jan.)

CoinDesk TV

In case you missed it, here is the most recent episode of « First Mover » on CoinDesk TV:

Bitcoin Drifting Below $40K, Fed Releases White Paper on Central Bank Digital Currency, SEC Chair Gary Gensler Wants More Control of Crypto

« First Mover » hosts were joined by Rep. Tom Emmer (R-Minn.) as he introduces a new bill aimed to limit the Federal Reserve’s ability to issue a digital currency. This comes as the Federal Reserve has just released a long-awaited white paper on the digital dollar. Bitcoin crashed to a five-month low. Managing Director of MarketGauge Group Michele Schneider provided her analysis. Plus, former SEC Commissioner and Patomak Global Partners CEO Paul Atkins gave his take on the latest regulatory signal from Securities and Exchange Commission Chair Gary Gensler.

Latest headlines

Bitcoin Heads for Worst Week in 8 Months as Traders Lament ‘Pikachu Pattern’: The price appeared to stabilize around $35,000, but gallows humor filled social-media sites as more than $1.5 billion of tradition positions were liquidated.

No, Tech Stocks Aren’t Driving Crypto Prices: The relationship between bitcoin and the Nasdaq is there, but it isn’t as strong as some suggest.

Here’s Why Bitcoin Tumbled 11% in 24 Hours: Bitcoin is currently trading around 45% below its all-time high of $68,700.

Crypto Market Cap Falls Below $2T Amid Sell-Off: As bitcoin and ether breach $40,000 and $3,000 support levels, some altcoins are trading 60%-80% down from cycle highs.

Ethereum Could Hold Lead as Dominant Smart-Contract Blockchain: Coinbase Analysts: The only real “ETH killer” might end up being Ethereum 2.0, according to analysts for the U.S. exchange Coinbase.

Crypto Trader Tantra to Liquidate After ‘GBTC Discount’ Widens to Record: The Grayscale Bitcoin Trust (GBTC) has been trading at a steep discount since last February, but a further widening proved too much for one trading firm.

Twitter Seeks Senior Crypto Role on Heels of NFT Verification Announcement: The job posting advertises “NFT tooling, membership tokens, DAOs and more!”

Longer reads

Simpin’ Ain’t Easy: The Business Sense Behind IreneDAO: Crypto seems poised to magnify existing financial relationships between influencers and their obsessive fans.

Today’s crypto explainer: What is SegWit

Other voices: Money in the Metaverse

Said and heard

« What we would hope is that, as we get into the next weeks to month or so, we’ll see throughout the entire country the level of infection get to below what I call that area of control. » … (Anthony Fauci on ABC’s This Week) … « Now some executives say supply challenges are worse than ever. The lack of workers leaves a broader range of products in short supply, food-industry executives said, with availability sometimes changing daily. » (U.S. Food Supply Is Under Pressure, From Plants to Store Shelves/The Wall Street Journal) … « Hunt offers an analogy here: Our future engagement with the metaverse could mimic how, with the help of science, we came to accept the real existence of an unseeable “microverse:” that realm of viruses, parasites and other microbes that we’ve since learned how to manipulate, sometimes in sinister ways. » (CoinDesk Chief Content Officer Michael Casey) … « Many altcoins are into support at their summertime 2021 lows, making it critical that bitcoin holds support as it sets the tone for the cryptocurrency space. » (Katie Stockton, managing director of Fairlead Strategies, quoted by CoinDesk)

Good morning. Here’s what’s happening:

Market moves: Bitcoin retakes $36,000 as the crypto market stabilized after last week’s correction.

Technician’s take: Extreme oversold readings preceded an uptick in BTC.

Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.

Prices

Bitcoin (BTC): $36,547 +0.1%

Ether (ETH): $2,426 -4.6%

Top gainers

Asset
Ticker
Returns
Sector
Cosmos
ATOM
+5.4%
Smart Contract Platform
Bitcoin
BTC
+0.7%
Currency

Top losers

Asset
Ticker
Returns
Sector
Solana
SOL
−8.5%
Smart Contract Platform
Algorand
ALGO
−7.3%
Smart Contract Platform
Filecoin
FIL
−6.4%
Computing

Sector classifications are provided via the Digital Asset Classification Standard (DACS), developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets. The CoinDesk 20 is a ranking of the largest digital assets by volume on trusted exchanges.

Markets

S&P 500: 4,410 +0.2%

DJIA: 34,364 +0.2%

Nasdaq: 13,855 +0.6%

Gold: $1,843 +0.4%

Market moves

Bitcoin’s price rose by as much as $1,834 on a four-hour basis during U.S. trading hours on Monday, after it briefly touched the $34,000 level during Asia’s late afternoon. The overall crypto market stabilized after the broad market correction downward in the past week.

Bitcoin is currently changing hands at around $36,400 and is up slightly in the past 24 hours, according to CoinDesk data. At the time of publication, ether was down slightly, trading at about $2,400. Most of the major alternative coins (altcoins) were in the red.

The U.S. equity market also rebounded in the late afternoon on Monday. Major stock indices tumbled earlier in the day as investors closely watch the Federal Reserve’s first meeting this year, which will take place this week.

While bitcoin and the crypto market appeared to be following the performance of the stock market recently, as CoinDesk reported, the relationship between bitcoin and the Nasdaq 100 stock index, the favored proxy for the tech sector, remains weak – a reminder there are other more important factors that could affect bitcoin and the crypto market.

“For the time being at least, one could say bitcoin’s prices are a combination of some global risk appetite and a lot of the market dynamics in China (and the aftermath of restrictions there),” CoinDesk’s Lawrence Lewitinn wrote. “Those factors’ influences aren’t static, but they explain a lot more than watching the Fed’s every move.”

According to crypto trading data analytic firm Kaiko, despite a sharp sell-off last week, bitcoin’s daily spot trading volume last week was still lower than it was during December’s price plunge.

The average daily spot trading volume of bitcoin on major cryptocurrency exchanges has mostly remained below $5 billion in the past month, down significantly since early fall, Kaiko wrote in its weekly newsletter on Monday. This is partly because Chinese exchanges OKEx and Huobi have suffered volume loss due to the crypto trading ban in China last year.

Technician’s take

Bitcoin Short-Term Bounce Faces Resistance at $40K

Bitcoin (BTC) returned above $35,000 after multiple oversold signals appeared on the charts. The cryptocurrency faces initial resistance at $40,000, which could limit upside over the short term.

Bitcoin is up 3% over the past 24 hours after rising from an intraday low near $33,000, while the broader crypto market has stabilized.

The relative strength index (RSI) on the daily chart registered the most extreme oversold reading since the March 2020 crash. The previous extreme low was on Nov. 20, 2018, which preceded a few months of rangebound price action before a rally took place.

For now, a downtrend of lower price highs since November remains intact, which means sellers could remain active at resistance levels.

Important events

8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia consumer price index (Q4, MoM/YoY)

8:30 a.m. HKT/SGT (12:30 a.m. UTC): National Australia Bank’s business conditions (Dec)

8: 30 a.m. HKT/SGT (12:30 UTC): National Australia Bank’s business confidence (Dec)

Happy Australia Day!

11 p.m. HKT/SGT (3 p.m. UTC): U.S. Consumer Confidence (Jan.)

CoinDesk TV

In case you missed it, here is the most recent episode of « First Mover » on CoinDesk TV:

Crypto Market Lost $1.3T in 2 Months; What’s Going On? White House Set to Release Government-Wide Strategy for Digital Assets

« First Mover » hosts were joined by Marc Lopresti, managing director at The Strategic Funds, for an in-depth analysis on the crypto markets as cryptocurrencies suffer yet another sell-off. Since November, about $1.3 trillion has been wiped out in the total market cap. Plus, what could we expect from the Biden administration’s digital asset strategy that’s reportedly set to release next month? Nyca Partners Executive-in-Residence Matt Homer and CoinDesk Managing Editor for Global Policy & Regulation Nikhilesh De provided their insights. Then CoinDesk Executive Editor Marc Hochstein explained Privacy Week at CoinDesk.

Latest headlines

Singapore VC Blockchain Founders Raises $75M for New Fund: The company has been an early investor in blockchain, crypto, Web 3 and metaverse startups.

Chinese Government Rejects Metaverse Trademark Applications: Report: Those rejected include applications by NetEase, iQiyi and Xiaohongshu.

Investors Put $14M Into Crypto Funds Last Week as Bitcoin Market Cratered: Inflows into digital-asset funds last week – after five straight weeks of outflows – suggest investors were taking advantage of the price dip.

Bank of America Says US CBDC Would Preserve Dollar’s Status as World’s Reserve Currency: CBDC’s are an inevitable evolution of today’s electronic currencies, the bank’s analysts said.

Biden Administration to Release Executive Order on Crypto as Early as February: Report: The directive will ask federal agencies to determine the risks and opportunities posed by digital assets.

Longer reads

Who Writes the Story of the Metaverse?: How narratives and memes shape our online future.

Today’s crypto explainer: Crypto Flash Crashes: What You Need to Know

Other voices: Blockchain beyond the hype: What is the strategic business value?

Said and heard

« Surveillance economies power our biggest tech companies. Facebook and Google track our every step to deliver surgical ad strikes that make us hungry to buy more stuff we don’t need, with money we don’t have, to impress people we don’t even know. They track where we go, what we like, who we know and love, and with whom we’re sleeping. » (Author and speaker Daniel Jeffries writing for CoinDesk) … « Well, here’s another take – it’s a bad time to be a day trader, but it’s also a bad time for NFT flippers, whose gains and losses are typically priced in ETH. Even as the price has fallen, the average amount of ETH exchanged for non-fungible tokens in top collections has stayed relatively consistent. » (CoinDesk media and culture reporter Will Gottsegen) … « That is the promise of a virtual world: that you get to be anybody you want, unhampered by flesh, gravity, environment, expectations and economics — or maybe just the record you have created. » (Vanessa Friedman/The New York Times) …

Pluto Digital, a crypto venture company, agreed to buy investment company NFT Investments in a reverse takeover that will see it gain a listing on the Aquis Stock Exchange Growth Market in London.

NFT Investments (AQSE: NFT) will issue GBP96 million ($130 million) of shares to Pluto investors, giving them a 70.5% stake in the new entity, NFT Investments said in a statement.In the last 12 months, Pluto Digital has established Pluto V, a venture capital arm that has made investments in various Web 3 projects and non-fungible token assets. Last March, it raised a $40 million fund, attracting London-listed bitcoin miner Argo Blockchain (LSE: ARB) as its lead investor.NFT Investments’ executive chairman, Jonathan Bixby, is one of Argo’s founders.The firm is listed on the Aquis Stock Exchange Growth Market (AQSE) in London, trading on which will be suspended until the proposed acquisition is completed.

Read more: Crypto Miner Argo Diversifies Into Non-Mining Blockchain Business

The Blockchain-Based Service Network (BSN), China’s state-sanctioned blockchain infrastructure project, said it is releasing its platform for non-fungible tokens (NFT) in the country today.

The BSN-Distributed Digital Certificate (BSN-DDC) network is a structure for building NFTs that is compliant with Chinese regulations, the organization said in a press release. Authorities in China discourage public networks like Ethereum that are commonly used in the NFT ecosystem.Instead, as CoinDesk reported in October, BSN is making 10 Open Permissioned Blockchains available on the BSN-DDC. These are localized versions of their permissionless counterparts that set restrictions on who can participate in network governance and use fiat currency for payment. DDCs are the same as NFTs, but renamed to emphasize their uses for certification.Five of the 10 chains were named: Ethereum-based Wuhan Chain, Wenchang Chain powered by Cosmos-based IRISnet, Corda-based Zunyi Chain, EOS-based Zhongyi Chain, and FISCO BCOS-based Tai’an Chain.Some platform partners were also announced: The state-owned museum and auction house Rong Bao Zhai Auction, state-backed Hainan International Culture and Artworks Exchange Center – which has acquired the first license for an NFT marketplace in China, consulting firm EY’s blockchain division, video technology provider Sumavison, electronic invoice provider Baiwang and Digital Art Fair Asia, an NFT-focused company from Hong Kong.Another 26 founding partners, as well as the roadmap and governance structure will be announced in a launch ceremony in the city of Nanjing in March.The BSN-DDC is based on the Blockchain Services Network, a platform where developers can build and deploy decentralized applications at a low cost.

Read more: BSN Architect Red Date to Launch NFT Infrastructure in China

A bug on the non-fungible tokens (NFT) marketplace OpenSea has allowed at least three attackers to secure massive discounts on several NFTs and make a huge profit.

The bug, which was discovered as early as Dec. 31, 2021, allowed the attackers to buy NFTs at older, lower prices, and sell them for a hefty profit. Blockchain analytics firm Elliptic wrote in a blog post that one attacker called jpegdegenlove « paid a total of $133,000 for seven NFTs – before quickly selling them on for $934,000 in ether. Five hours later, this ether was sent through Tornado Cash, a ‘mixing’ service that is used to prevent blockchain tracing of funds. »NFTs are digital assets on a blockchain that represent ownership of virtual or physical items. OpenSea is one of the largest marketplaces for NFTs.Elliptic estimates the market value of the affected NFTs to be over $1 million.Jpegdegenlove partially reimbursed two of the victims, sending them back a total of $75,000 on Monday, Elliptic said.Some users have been transferring their listed assets to other wallets to take them off the market place whilst avoiding the delisting fee, founder of NFT project freshdrops_io tweeted back in December.But even though the item may appear to be off the OpenSea front end, it is still accessible on OpenSea APIs and Rarible, another NFT marketplace.CoinDesk could not reach OpenSea for comment on this story.One NFT from the popular Bored Ape Yacht Club (BAYC) collection was listed under its July 2021 price of 23 ether, and the attacker was able to sell it for 135 ether, making a quick profit of more than 100 ether, tweeted Tal Be’ery, Chief Technology Officer of ZenGo crypto wallet.Asked about the bug, an OpenSea Discord admin confirmed to CoinDesk that « if you had an open listing that you never cancelled, or didn’t hit its expiration, it still exists. » »The thief had a bot to scan the blockchain for pending transactions that had low floor pending and bought them, » Joe Vargas, an influencer who also runs his own NFT project, told CoinDesk.Bored Ape Yacht Club, Mutant Ape Yacht Club, CyberKongz and Cool Cats NFTs have been affected.One collector, who saw their BAYC sell for 0.77 ether, went on Twitter to express his shock when he realized his NFT had disappeared.

Yooo guys! Idk what just happened by why did my ape just sell for .77?????

— TBALLER.eth (@T_BALLER6) January 24, 2022

Read more: OpenSea Says It Patched an NFT Phishing Vulnerability

UPDATE (Jan. 24 17:56 UTC): Adds details from Elliptic’s analysis.

Non-fungible tokens (NFT) marketplace OpenSea launched a new listing manager, among other measures, to mitigate a user interface flaw that saw over $1 million worth of NFTs sold at prices far below their market value.

On Monday, three attackers were able to take advantage of the bug and buy popular NFTs at older, lower prices, and sell them for a massive profit.An OpenSea spokesperson told CoinDesk via email that « this is not an exploit or a bug » but rather « an issue that arises because of the nature of the blockchain. »The marketplace launched a new listing manager early on Tuesday, adding a dashboard that shows all of one user’s inactive listings where they can cancel each listing with one click. »The fix only handles and solves for new users, as it only fix the facade (web app) and not the vulnerable contract itself, » said Tal Be’ery, chief technology officer of crypto wallet ZenGo, told CoinDesk via Twitter. « Old users that re-listed their NFTs on OpenSea in the past are still vulnerable to such attack, » whereas new users « simply cannot re-list NFTs without cancelling previous lists explicitly, » he added.On top of the new dashboard, OpenSea has been reaching out to and reimbursing affected users, the spokesperson said, adding that they have not « communicated broadly about this issue » to avoid bringing it to the attention of bad actors.OpenSea also changed its default listing duration from six months to one month, and started notifying users if they have an active higher price listing when they reduce the price for the same item, the marketplace told CoinDesk.In the next two days, OpenSea will ship another two features to address the listing issue, the company said. The first feature is that when a user transfers an NFT out of their wallet for which they have an active listing, OpenSea will notify them that the NFT in question is an active listing, giving the users an option to cancel the transfer. The second feature is to email users when they transfer an NFT into a wallet with an active listing for that NFT.

Read more: OpenSea Bug Allows Attackers to Get Massive Discount on Popular NFTs

UPDATE (Jan. 25, 19:11 UTC): Adds more details about OpenSea’s current and future changes in the last two bullet points.

John Lennon’s son Julian is selling a collection of Beatles memorabilia as a set of non-fungible tokens (NFT).

The centerpiece of the « Lennon Connection » is some notes jotted by Paul McCartney while writing « Hey Jude, » one of the Beatles’ most famous songs. The song was said to be penned by McCartney to comfort the young Julian during his parents’ divorce.

The collection also includes clothing worn by John Lennon in the Beatles’ films and various guitars given to Julian Lennon by his father. The NFTs take the form of audio-visual collectibles, each accompanied with narration by Julian.

The auction will take place on NFT marketplace YellowHeart on Feb. 7. YellowHeart is a startup that uses Ethereum and Polygon integrations to offer tickets and other music-related items as NFTs. Last March, it hosted the release of Kings of Leon’s album as an NFT, a first for a rock band.

NFTs saw a dramatic surge in interest in 2021, with trading volume reaching $10.7 billion in the third quarter, driven by a record-breaking August that saw over $5.2 billion in trading.

The availability of NFTs related to the Beatles, one of the most iconic rock bands of all time, may trigger renewed attention toward the use of the technology for the sale of music-related memorabilia.

Julian is not the first member of the family to be associated with crypto and blockchains. His half-brother Sean Ono Lennon has made himself known as a bitcoin advocate, saying in a podcast in November 2020 that the world’s largest crypto is « one of the only things » that gives him optimism about « the future and humanity in general. »

Read more: Music NFTs Are Set for an Explosive 2022