A leading player in the Brazilian Web2 finance sector, Acura Capital, with a robust portfolio of $1.8 billion in managed assets and an additional $3 billion in custody, is thrilled to announce its upcoming collaboration with a paramount Web3 partner, Patex. This partnership heralds the launch of a novel offering aimed squarely at the burgeoning blockchain landscape of Latin America, marking a significant milestone in the region’s digital financial ecosystem.
Transforming Digital Banking in Latin America
Acura Capital is setting the stage to introduce a pioneering digital banking solution, crafted with the digital era’s demands at its core. This new venture is set to revolutionize the banking sector by focusing on enhancing security measures, boosting operational efficiency, and expanding access to financial services.
Destined to transform the digital banking landscape in Latin America, this innovative digital bank is tailored to cater to the region’s specific financial nuances. It seamlessly merges the reliability of traditional banking with the agility of modern cryptocurrency functionalities.
Transforming Digital Finance Across the Continent
By combining Acura Capital’s financial experience with Patex’s blockchain knowledge, the venture is poised to address the distinct economic challenges prevalent in Latin America. The digital bank is designed to offer a broad spectrum of digital and crypto banking solutions, catering to an expansive user base of over 670 million across the region.
A Spectrum of Innovative Services:
- Digital wallet. This feature offers a secure and user-friendly platform for managing digital currencies and financial assets, utilizing advanced encryption for unparalleled safety and privacy. Its intuitive design enables swift transactions, supporting a multitude of currencies for a consolidated portfolio management experience.
- RWA tokenization. Patex integrates tokenized real-world assets into the $6 trillion Latin American economy. The bank assists in converting physical assets into tradable securities on conventional stock exchanges. These securities subsequently underpin the development of tokenized assets, set to be launched via security token offerings and tradable on a secondary market, with the assurance of compliance through KYC/AML protocols.
- Floating rates. Offering dynamic interest rates for savings and loans, this service adjusts to market fluctuations, ensuring optimal terms for clients. It promotes transparency in financial dealings — a much-valued trait in today’s market.
- Currency exchange. The bank’s exchange platform allows for the efficient conversion of various currencies, including fiat and cryptocurrencies. It guarantees competitive rates and minimal fees, operating non-stop to deliver real-time market insights for strategic trading.
- Patex Tokens for Payments. Pix, the instant payment system launched by the Central Bank of Brazil, has quickly become notable for its efficiency and user-friendliness. Utilizing blockchain technology, Pix transactions can now be conducted with Patex tokens, representing digital assets securely held in blockchain wallets.
- Instant transfers. Facilitating immediate money movements 24/7, this service ensures transactions are processed within seconds, significantly reducing the wait times associated with traditional banking methods.
- Crypto cards. Extending the utility of traditional payment cards, these cryptocurrency cards enable a wide range of transactions, including retail purchases and online payments, with seamless integration into digital wallets like Apple Pay and Google Pay.
- E-commerce integration. Tailored for online merchants, this feature enhances transaction speed and includes tools for sales monitoring, revenue management, and instant financial reporting.
- Personal loans. The bank offers competitive personal loans with flexible terms and an easy application process, prioritizing rapid approval and minimal paperwork.
- Wealth management. Clients can access bespoke financial planning and investment management services, leveraging state-of-the-art tools and insights to foster asset growth and strategic wealth accumulation.
A Unified Vision for Innovation and Security
Fernando Luiz de Senna Figueiredo, the Management Director at Acura Capital, envisions the partnership with Patex as a perfect alignment of strengths, creating a digital banking solution that expands the horizons of technological innovation while catering to the unique needs of Latin American consumers.
“By combining our respective strengths, we’re creating a digital banking platform that pushes the boundaries of what’s possible with technology. Our teams also deeply understand how to cater to the needs of Latin American users,” Fernando Luiz said.
“We’re confident that our digital bank will deliver a secure, intuitive, and comprehensive banking experience that bridges the gap between traditional financial services and the digital economy in such a promising region like Latin America.”
About Acura Capital
Acura Capital stands as an investment, portfolio analysis, and risk management service provider, managing $1.8 billion and holding a steadfast commitment to innovation, aiming to provide top-tier financial solutions to its clientele.
About Patex
Patex, the leading blockchain ecosystem in Latin America, plays a crucial role in the region’s blockchain domain, particularly in the evolving crypto market. Its comprehensive offerings, including the Patex Network, C-Patex Exchange, and Patex Campus, position the company to effectively tackle the financial and technological challenges of Latin America, ranging from infrastructure lack in launching Central Bank Digital Currencies (CBDCs) to enhancing blockchain literacy among the populace.
Several crypto traders have observed a promising pattern on the Bitcoin dominance chart, hinting at a possible increase in Bitcoin’s share of the crypto market.
This pattern, known as an ascending triangle, suggests that Bitcoin’s market dominance might be on the rise.
This technical analysis tool is identified by a chart pattern where the price moves within a confined area, marked by a rising trendline support and a flat resistance line, indicating potential upward momentum in Bitcoin’s market share.
Benjamin Cowen, a notable figure in the crypto community and the founder of Into The Cryptoverse, expressed his optimism regarding Bitcoin’s dominance, telling his substantial audience of over 810,000 on X on March 27, “The BTC dominance train is about to leave the station.”
This sentiment is echoed by other traders who see the pattern as a bullish sign for Bitcoin.
Another prominent voice in the crypto space, a trader known as Beanie, shared with his nearly 195,000 followers on X that Bitcoin’s dominance is “coming back in a big way.”
Beanie pointed out that in bear markets, Bitcoin often becomes a refuge for investors, attributing to its perceived stability compared to other, more speculative assets.
This shift towards Bitcoin in uncertain times is not unprecedented, as Beanie compared the current market conditions to the bear market of 2018, contrasting it with the bull market of 2021 where Bitcoin’s dominance saw a significant decline from 70% to 40%.
The landscape of Bitcoin’s market dominance has seen dramatic shifts over the years, from a commanding 85% in March 2017 to a record low of 32.45% by January 2018. As of the latest data from CoinStats, Bitcoin’s dominance stands at 50.1%.
However, not all traders are convinced of this bullish outlook.
Some, like Zero Ika, who has a following of 43,500 on X, argue that Bitcoin’s dominance is on a “long-term downtrend” from a macro perspective, suggesting a more cautious view of Bitcoin’s market share moving forward.
This divergence of opinions highlights the speculative nature of the crypto market and the varying interpretations of market data among investors.
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In a significant move within the cryptocurrency community, a notable Bitcoin whale, identified only as “37X,” has shifted an enormous sum of over $6 billion in Bitcoin to three separate addresses, marking the first such transaction since 2019.
This transfer saw the whale relocating nearly its entire stash of 94,500 Bitcoin, valued at $6.05 billion as of March 23, leaving a mere 1.4 BTC in the original wallet.
The details of this massive transaction were shared by Arkham Intelligence on March 25, stating, “$5.03B BTC was sent to bc1q8yj, with addresses bc1q6m5 and bc1q592 receiving $561.46M and $488.40M in BTC respectively. bc1q592 has since sent those funds onwards.”
This whale activity coincided with a surge in Bitcoin interest from institutional investors, partly fueled by the anticipation of the upcoming Bitcoin halving event set for late April.
This event is expected to cut the reward for mining new blocks in half, a significant change that has historically impacted Bitcoin’s price.
Despite Bitcoin achieving a record price level prior to this halving, experts believe the market has yet to fully account for the impending reduction in supply.
A D8X co-founder and former UBS executive director highlighted to Cointelegraph that the price increase does not fully reflect the anticipated supply squeeze.
The timing of the whale’s transfer was also noteworthy, occurring just as Bitcoin surpassed the $70,000 mark on March 25 after a 10-day absence from this price point.
This resurgence is part of a broader trend of Bitcoin accumulation off exchanges, with Coinbase’s Bitcoin supply dropping to a nine-year low.
According to CoinMarketCap, Bitcoin’s price saw a 6.4% increase in the 24 hours leading up to March 25, reaching $71,222.
The current Bitcoin rally is largely attributed to halving anticipation and increased institutional investment, including from traditional financial institutions launching Bitcoin-related products.
Ten Squared’s partner, Christopher Cheung, mentioned to Cointelegraph, “The involvement of traditional financial institutions like BlackRock and Fidelity in launching BTC products is further legitimizing cryptocurrency as an alternative asset class.
“This reduces the ‘career risk’ for investors who were previously hesitant to enter the crypto market.”
The growth in Bitcoin ETFs, with a combined total of $58.3 billion in on-chain holdings, underscores the increasing acceptance of Bitcoin as a legitimate asset class among investors.
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The International Monetary Fund (IMF) has highlighted the potential of digital currencies, including stablecoins and central bank digital currencies (CBDCs), to enhance financial inclusion and improve financial services in the Pacific Islands.
A report released by the IMF on March 25 delves into the impact these digital currencies could have on the economies of these remote and dispersed nations.
The 58-page document crafted by IMF’s senior economists identifies significant challenges for the Pacific Islands, emphasizing the importance of financial services for overcoming poverty and inequality.
A particular concern for these nations is their heavy reliance on remittances and the detrimental effects of reduced correspondent banking relationships.
The IMF sees digital currencies as a means to develop payment systems, broaden financial inclusion, and address these banking challenges.
Though the report leans towards the advantages of CBDCs, a preference of the IMF, it doesn’t disregard the role of private stablecoins, specifically those backed by foreign currencies.
However, it advises against smaller Pacific Island countries issuing their own stablecoins due to the potential lack of regulatory oversight.
Tether, a well-known private stablecoin, is specifically mentioned within this context.
For countries with their own national currencies and established banking systems, the report suggests a dual-structure CBDC model.
This approach involves the central bank issuing the digital currency while entrusting its operation to private entities.
On the other hand, for nations without their own currencies, the IMF considers foreign currency-backed stablecoins as a viable option, contingent on strict regulation and supervision.
The report acknowledges that none of the Pacific Island countries currently use private cryptocurrencies or stablecoins officially.
However, a few, including Fiji, Palau, Solomon Islands, and Vanuatu, are exploring the possibilities of adopting a CBDC.
The IMF has been a staunch advocate for the adoption of CBDCs globally. In November 2023, its managing director, Kristalina Georgieva, emphasized the importance of the public sector preparing to implement CBDCs.
She posited that CBDCs could not only replace cash but also serve as a “safe and low-cost alternative” to private money, underlining the IMF’s support for digital currency initiatives as a means to foster financial inclusivity and resilience among the world’s most isolated economies.
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The first phase of the Driving Cats NFT Club sale will be available to all members of the public, and it will get underway at 8:30 AM (GMT) on 29 March.
Many crypto investors have been pouring money into altcoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and Pepecoin (PEPE) in search of higher gains than what they’re likely to achieve holding Bitcoin (BTC) or Ethereum (ETH).
While these altcoins can deliver significant returns in the next bull run – potentially over 200% – investing in NFTs at the beginning of the drop can potentially generate even higher returns, in a much shorter period of time.
One such opportunity that is emerging is the Driving Cats NFT Club (DCNC.)
The first phase of the public sale of Driving Cats NFT Club will be available to all members of the public, and it will get underway at 8:30 AM (GMT) on 29 March via OpenSea.io.
During the first phase, each of the 999 NFTs that make up this collection will be available to buy for just 0.07 ETH (around $240).
Once the first phase of the public sale ends in mid-April, each NFT will be priced at 0.25 ETH – over four times its price during the first phase.
However, as the NFT collection is expected to sell out during the first phase, and as most buyers will likely hold onto their NFTs rather than trying to flip them in the secondary market, the price of each NFT could rally much higher than 0.25 ETH.
For early buyers, the Driving Cats NFT Club could be a great investment, potentially delivering much higher returns than if you were to invest in Shiba Inu (SHIB), Dogecoin (DOGE), Pepecoin (PEPE), Bitcoin (BTC), or Ethereum (ETH.)
Institutional investment in Bitcoin mining by large public companies has notably impacted the landscape for individual and small-scale miners, with significant consequences for the network’s dynamics, according to a Bitfinex report on the cryptocurrency mining ecosystem ahead of the Bitcoin halving.
The study reveals a shift from the decentralized vision of Bitcoin, where individuals contributed to network security, to a scenario dominated by corporate entities.
These entities prioritize shareholder returns, operating on a much larger scale with different priorities than smaller miners.
The report emphasizes their focus on profitability and managing investor expectations, often sidelining the community’s more altruistic values such as network security, egalitarian access, and censorship resistance.
The entry of Wall Street funding into Bitcoin mining has professionalized the sector, leading to increased hashing power that could theoretically enhance network security and stability.
However, concerns arise about centralization and corporate influence, which could diverge from Bitcoin’s original ethos of being open, borderless, and resistant to control by any single entity.
The Bitfinex analysis notes that the consolidation of mining operations by these large companies could potentially threaten Bitcoin’s decentralized nature, as they are able to scale operations more effectively, secure cheaper energy, and invest in the latest technologies, making it difficult for smaller miners to compete.
The infusion of institutional capital has altered the incentive structure within the network, favoring those who can operate on a large scale.
This shift raises questions about the future of Bitcoin’s decentralized ethos and whether the increased centralization could impact network security and the distribution of mining rewards.
The survival of independent and hobbyist miners now depends on their ability to innovate and collaborate.
Mining pools are suggested as a solution, allowing for the pooling of resources to stay competitive.
Moreover, the sustainability of hobby mining is contingent on the development of more efficient mining technologies and the utilization of renewable energy.
Geographical diversification of mining operations is also highlighted as vital for maintaining the network’s decentralization.
Emerging markets with renewable or untapped energy sources are seen as promising locations for new mining ventures.
The report concludes that, while the landscape is evolving, the core community values and decentralized nature of Bitcoin must be preserved to ensure the network’s integrity and resilience.
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The Shiba Inu cryptocurrency experienced a 7% increase in its value over the last 24 hours, with its price reaching $0.00002995 at 03:51 a.m. EST, based on a trading volume that saw a 42% rise to $2.2 billion.
This surge comes as SHIB successfully breached the $0.00003 price mark, boasting a 211% rise within just 30 days, hinting at a potential rebound to its annual peak of $0.00004563, recorded on March 5.
March was a significant month for Shiba Inu, marked by considerable gains and a stark increase to a resistance level at $0.00004568.
However, facing resistance led to a correction, mirroring a broader market downtrend.
Despite this, SHIB supporters have rallied from lower support levels, notably around $0.000020, propelling the cryptocurrency above a declining wedge pattern.
This movement is backed by a broader market recovery, fueling bullish momentum.
Technical indicators underscore the bullish outlook, with Shiba Inu standing above both the 50-day and 200-day Simple Moving Averages (SMAs), indicating sustained upward momentum.
The Relative Strength Index (RSI) reflects this optimism, showing a rebound from the 50-midline level at 56, aligning with SHIB’s breakout above the falling wedge pattern’s upper boundary.
The Moving Average Convergence Divergence (MACD) presents a bullish narrative as well, with a blue line crossover above the orange signal line, further affirmed by rising green bars on the histogram indicating positive momentum.
These indicators suggest a strong bullish bias, with targets set beyond the immediate resistance towards $0.000040.
However, there remains a risk of bearish pressure that could see prices retract to support levels if current momentum wanes.
Amidst this climate, Dogecoin20 emerges as a noteworthy mention, with its launch scheduled for April 20, following a highly successful presale phase that quickly raised $10 million.
Dogecoin20, viewed as an evolution of the DOGE meme coin, is anticipated to outperform predecessors like Shiba Inu and Dogecoin itself.
The project aims for environmental friendliness and introduces on-chain staking with a compelling 98% annual percentage yield (APY), allocating 15% of its 140 billion total token supply for staking rewards over two years.
Marking April 20 as International Doge Day, the Dogecoin20 team aligns its launch with a day celebrated by enthusiasts, offering a strategic investment window for those eager to participate.
The presale’s extension provides a final opportunity to purchase DOGE20 tokens at $0.00022 each, with transactions facilitated through ETH, USDT, or bank cards, urging quick action from interested investors before the close.
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Attention all thrill-seekers and speed demons: the clock is ticking, and the race is on! Cardano Racers, the pulse-pounding NFT gaming project set to dominate the Cardano blockchain, is about to close the doors on its exclusive whitelist presale – but fear not, because the ride is far from over.
With the whitelist presale winding down, now is your final opportunity to secure your spot on the starting grid as the public presale kicks into high gear. But don’t wait too long, because once the public presale ends, the discounts disappear, and the prices go back to normal.
On March 28, 2024, at 10:30 PM UTC, the gates will swing open for the public presale, giving adrenaline junkies from around the globe the chance to join the race and experience the thrill of Cardano Racers for themselves. And with prices discounted by a huge 25% off normal prices, there has never been a better time to fuel your passion for NFTs and blockchain gaming.
To secure your spot in the public presale, simply head over to www.cardanoracers.com/presale and prepare to embark on the ride of a lifetime. From high-speed racers to adrenaline-fueled thrill-seekers, there’s a place for everyone in the Cardano Racers community – and it’s waiting for you to claim your spot on the starting grid. More details can be found by joining our discord group at Cardano Racers.
But that’s not all – the excitement is set to reach new heights on March 31, 2024, as Cardano Racers speeds towards its mainnet release. With the target date just around the corner, the countdown to history in the making has officially begun.
So don’t miss your chance to be a part of the action – join the revolution today and let the racing begin! With Cardano Racers, the future of NFTs has never looked faster, fiercer, or more exhilarating. Strap in, rev your engines, and get ready to experience the ride of a lifetime.
The race to greatness starts here – are you ready to ride? Stay ahead of the curve with Cardano Racers! Follow us on X @CardanoRacers or join our Discord group Cardano Racers for the latest updates and exclusive sneak peeks. Don’t miss out on the ultimate racing revolution – your journey to victory starts now! www.cardanoracers.com/presale
In the recent financial landscape, the United States spot Bitcoin exchange-traded funds (ETFs) have witnessed a remarkable resurgence in investment, marking a significant turnaround after experiencing a series of net outflows over five days.
This rejuvenation was particularly evident on March 26, when the 10 newly sanctioned spot Bitcoin ETFs collectively attracted a net inflow of $418 million, as reported by Farside Investors data.
Among these, BlackRock’s and Fidelity’s funds were at the forefront, channeling robust inflows that underscored investor confidence.
Fidelity’s Bitcoin ETF, in particular, showcased its strongest daily inflow since March 13, securing an impressive $279.1 million on March 26.
This surge was accompanied by the acquisition of an additional 4,000 BTC, marking the fund’s second day of inflows surpassing the $260 million threshold.
Meanwhile, BlackRock’s Bitcoin ETF also drew significant attention with inflows of $162.2 million, despite these figures not matching the higher inflow rates seen earlier in the month, which averaged over $300 million daily.
The investment enthusiasm extended beyond these two giants, with the Ark 21Shares Bitcoin ETF recording its most substantial day since March 12, amassing $73.6 million in inflows.
Similarly, Invesco Galaxy, Franklin Templeton, and Valkyrie each experienced inflows exceeding $26 million in their respective funds.
In contrast, Grayscale’s Bitcoin Trust (GBTC) faced a significant outflow of $212 million on the same day.
Despite this, the cumulative net inflows into other funds overwhelmingly counteracted GBTC’s losses.
Since transitioning from a trust to an ETF on January 11, Grayscale has witnessed a dramatic reduction of 277,393 BTC, equating to an approximate value of $19.5 billion.
Highlighting the significance of these developments, Bloomberg’s senior ETF analyst Eric Balchunas pointed out the inclusion of Bitcoin ETFs among the largest 30 asset funds within their initial 50 days of trading in a post on X (formerly Twitter) on March 26.
BlackRock’s IBIT and Fidelity’s FBTC stood out, with Balchunas noting their exceptional performance.
He also mentioned that the Bitwise Bitcoin ETF, despite being the 18th largest in terms of assets under management, surpassed the world’s largest SPDR Gold Shares fund in size.
Adding to the evolving Bitcoin ETF landscape, Hashdex emerged as the 11th issuer of spot Bitcoin ETFs in the U.S. on March 26, transitioning its futures fund into a spot product now trading under the ticker DEFI.
This strategic move further underscores the growing embrace and diversification of Bitcoin-related investment products in the financial market.
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Texas-based Bitcoin miner Giga Energy has taken a significant step towards global expansion by establishing operations in Argentina, leveraging the often-wasted energy from natural gas flaring in the country’s oil fields.
Brent Whitehead, Giga’s co-founder, expressed enthusiasm about this venture in a LinkedIn post on March 26, highlighting it as a pivotal development for the company.
He stated, “This move not only broadens our operational landscape but also aligns with our vision to mitigate flaring globally.”
The process of gas flaring involves burning off the natural gas that emerges during oil extraction, releasing methane.
Giga Energy’s innovative approach converts this methane into electricity, which is then used to power its Bitcoin mining rigs.
A novel aspect of Giga’s operation in Argentina involves placing a large shipping container filled with Bitcoin miners atop an oil well, using the excess gas to generate electricity for mining activities.
This system, as reported by CNBC on March 26, is set to significantly enhance Giga’s mining capabilities.
Located in the province of Mendoza, Giga’s Argentinian mining site began testing in December and has mined Bitcoin worth between $200,000 and $250,000.
Despite this early success, co-founder Matt Lohstroh told CNBC that the operation is awaiting the importation of additional equipment to fully scale its activities and achieve profitability.
READ MORE: Bitcoin Surges Past $71,000 as Whales Accumulate, Pre-Halving Dip Possibly Over
Argentina is notable for having the world’s second-largest shale gas reserve, a factor that underscores the potential of Giga’s venture in the country.
Beyond economic benefits, the operation aims to reduce methane emissions, contributing to environmental sustainability.
Brent Whitehead emphasized the ecological impact, noting that by harnessing stranded natural gas for energy-intensive computing, Giga is actively reducing global methane emissions.
Collaborating with IT services company Exa Tech for onsite operations and Phoenix Global Resources for gas supply, Giga Energy is set to make a considerable impact.
CMC Data: Bitcoin (BTC) – Ethereum (ETH) – Shiba Inu (SHIB) – Dogecoin (DOGE) – Fetch.ai (FET)
Since its inception in 2019, Giga has installed 150 megawatts of mining containers in Texas and Shanghai.
This expansion coincides with the anticipation of the Bitcoin halving event, expected to occur around April 20, which will reduce the mining reward and possibly shift global mining activities to regions with lower electricity costs.
Jaran Mellerud, founder and chief mining strategist at Hashlabs Mining, identified Argentina and Paraguay as promising locations for Bitcoin mining in South America, reflecting the strategic importance of Giga Energy’s new venture.
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