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Sacramento Kings (NBA Team) Launches Crypto Token Rewards

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The Sacramento Kings, a team from the NBA in United States, is the first professional sports team from the country which has developed a crypto token for fan rewards. The team was in the crypto news lately and its CTO Ryan Montoya recently told news sites the following:

“Fans can get those points and put them in their wallets and experience it all on the blockchain platform.”

Further, the CTO announced that the token, called Kings Token, will pair with the predictive gaming platform which was developed in anticipation of the legalization of sports betting in California (for those of you who don’t know, the US Supreme Court overturned the federal restriction on sports betting in May 2018).

As the cryptocurrency news today also show, the Kings Token is a joint effort with the blockchain based event ticketing platform Blockparty.

“In our opinion, the blockchain has a role in the entire event experience,” said Vladislav Ginzburg, Blockparty’s chief development officer. “Whether it’s a sports game, music festival or Broadway show.”

Right now, Blockparty is putting together a case study on the project, as the CEO Shiv Madan added. Sacramento Kings will benefit from the platform in the hope that it is shared with other NBA teams if it is deemed a success in the future.

This is just the latest foray into blockchain technology for the Sacramento Kings team, which is based 90 miles northeast of the city of San Francisco. They are known for their announcement in 2014 which made them the first NBA team to accept Bitcoin as a payment in its arena.

Last year, the Kings became the first professional sports team that is mining cryptocurrency. Sacramento Kings then set up a platform called MiningForGood that donates the funds to charity.

The Kings Tokens will exist within a token wallet that is planed to be added to the team’s Golden 1 Center app, which is designed to track the engagement and accumulated points of fans. Speaking of, fans can earn rewards through the predictive gaming platform and redeem the points for access to unique events, signed merchandise or tickets.

Meanwhile, the ERC-2o token will run on Ethereum but will only be usable within the team’s Golden 1 Center arena at start.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Financial Giant Morgan Stanley Acquires E*Trade For $13 Billion

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If you have logged in today to see news on the topic of regulation crypto exchange and how countries are regulating crypto, this news story is quite connected and similar. As reports show, the major investment bank and financial giant Morgan Stanley is buying the online trading firm E*Trade Financial Group which would extend the bank's offerings to everyday investors. This $13 billion deal marks the largest takeover for Morgan Stanley since the crisis of 2008 which is why it is noteworthy in our cryptocurrency news. The purchase will also see the major investment bank get the 5+ million clients that E*Trade currently has as well as the $360 billion in assets and an online bank. As the Wall Street Journal reported on February 20, the financial giant Morgan Stanley will receive over 4,000 corporate customers as well as $580 billion of stock held on behalf of their employees. At the same time, the CEO of the company Michael Pizzi will retain its position and the company will keep its brand, retail storefronts as well as ad campaigns. In April 2019, E*Trade announced its official plan to begin offering digital currency trading on its platform, when it was related to the regulation crypto exchange news stories. At the time, the company was ready to offer Bitcoin (BTC) and Ether (ETH) after which it would also add other cryptocurrencies. As for the financial giant Morgan Stanley, they were in the Bitcoin news for trying to launch swaps tracking BTC futures since early fall in 2018 but did not receive a single contract by the end of that year. Nonetheless, the firm is ready to launch cryptocurrency services as soon as there is any sign of demand, according to sources familiar with the matter. The Wall Street giant postponed its plans to enter the crypto industry more actively as the value of cryptocurrencies fell at the end of 2018. One of their most recent attempts was the launch of Phemex, a new cryptocurrency derivatives trading platform in Singapore. The developers claim that this platform is ten times faster than the traditional crypto trading platforms - and offering 100x leverage to both retail and institutional investors in BTC, ETH and XRP.  
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Lumi Wallet Announces Direct Withdrawals To VISA For EU Users

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The multicurrency wallet known as Lumi Wallet has recently announced that it will allow users in the European Union to directly withdraw their Bitcoin (BTC) to the Visa credit cards they own. As we can see from the Bitcoin price news, the situation is not that good but features like these are certainly shaping up the regulaiton in a good way. Lumi Wallet also said that the new feature has been built with simplicity in mind and an easy-to-follow Know-Your-Customer (KYC) procedure. Transactions can be initiated quickly, which means that crypto enthusiasts don't need to jump through endless hoops. As the company noted, the current methods of converting crypto to fiat are not that practical. They are creating a "perplexing affair" which is not too dissimilar from the arduous process of getting refunds from an online retailer. Lumi Wallet is certain that selling cryptocurrency is the simplest way to exit a position. However, finding a willing buyer can be difficult and even in that case, the price they are willing to pay might not be reflective of the real price of the asset at the given moment. Additionally, the company behind the wallet says that there are a lot of safety concerns if a would-be buyer has dishonest intentions and by the time a transaction has been finalized, volatility in the market might mean that your crypto is worth substantially less. Ultimately, the issue that Lumi Wallet is trying to face is that middleman appear to have embedded themselves in the process of buying and selling cryptocurrencies. When it comes to exchanges, the company believes that there are several downsides having a negative impact on consumers. The team behind the wallet acknowledges that crypto can be intimidating for newcomers and adds that the goal is to demystify the burgeoning industry and make it accessible for everyone. Through a dedicated blog, the company has made a concerted effort to offer a back-to-basics education for people who are exploring the blockchain and cryptocurrency space for the first time - offering posts which explain everything from how decentralized finance works to the key distinctions between types of crypto wallets and other topics. As Lumi Wallet said, all of this could help and build the levels of confidence and credibility that crypto needs and encourage people to purchase coins and tokens for the first time.
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Buy Top Products From Taiwanese Brands With Gifto (GTO)

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Gifto is one of the coins that is shining in 2020 and getting popular literally everywhere. Aside from proving that cryptocurrencies can be used in the common day-to-day transactions, Gifto (GTO) proves that people need a coin which they can use to buy products through eCommerce. In the crypto news today, we are reviewing how you can use GTO to buy top products from Taiwanese brands. In 2020, Gifto is out to change the narrative with the launch of its eCommerce platform where goods from top Taiwanese brands can be purchased with only the press of a button. From cheesecakes to tea, gift cards and other items, Gifto (GTO) is the main currency which is used directly from the project's innovative web wallet and website. The best part, as the news show, is that you should never visit an exchange or set up a Coinbase account. As long as the user has access to their web wallet, they have direct access to the store, too. The project is using its backing by the Asia Innovations Group (AIG) in order to sidestep the convoluted exchange gateways which keep crypto out of the hands of the general market. Gifto leverages Uplive which is AIG's mobile live streaming product and is now able to place its web wallet within the app and give 5 million Taiwanese Uplive users access to its growing catalogue of eCommerce offerings. Aside from giving people the chance to buy top products from Taiwanese brands, Gifto is also looking to untangle the web of processes involved when purchasing cryptocurrencies by providing a direct fiat gateway to GTO with ACE exchange in Taiwan. The team behind this project is already popular in the altcoin news, taking advantage of Taiwan's crypto friendly market and the crypto friendly regulations to increase access to the token and drive its usage. With eCommerce now in place, Gifto is building a network of value in Taiwan that it expects could lead to mass adoption in 2019. Now, Gifto is in an elite class of tokens like Bitcoin where real-world applicability moved beyond the white paper and into the business of providing services for customers. The market has reacted positively and responded to the eCommerce development well, and Gifto (GTO) profile has raised rapidly in both trading volume and rankings.
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Bitcoin Gold Is Being Manipulated By A Whale Who Owns Half Of Its Supply

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The price of Bitcoin Gold is being manipulated in the cryptonews now by a whale who is controlling close to half of its circulating supply. These findings were evaluated in a research which was conducted by an independent trader and analyst who preferred to remain anonymous. The trader published his findings in a blog post where he said why he believes that a single group of people accumulated their way into a huge Bitcoin Gold position and are now using the supply to control the market. It all started in August 2018, when Bitfinex margin long positions began their sharp ascent to include almost two million Bitcoin Gold (BTG) in the altcoin news. The exchange makes its margin data information available to the public, which can help gauge the general trader sentiment in a particular coin - for example by comparing the ratio of short and long positions. in the case of Bitcoin Gold, the strong increase in margin positions was accompanied by lackluster price action. While the coin generally followed the broader crypto market, the price eventually spiraled downwards. Besides stating that Bitcoin Gold is manipulated now, the analyst estimated that the 1.9 million BTG held at some point in Bitfinex represents between 38% and 48% of its total circulating supply. For those of you who don't know, Bitcoin Gold was born in 2017 as a network fork from Bitcoin (BTC) created it. The analyst elaborated on how he reached that figure, stating:
“Over 11 million Bitcoins (BTC) haven’t moved in the last year. Considering big wallets’ unwillingness to claim their coins due to fear of private key leak for a minimal return, it can be argued that a number even larger than 11 million BTGs are inactive or lost forever.”
Then, he said that Bitcoin Gold is manipulated and estimated a figure of 4 to 5 million active BTG. When asked about the media why he is so certain that this is the work of one whale, he explained:
“The accumulation was very consistent and systematic over the course of almost a year, it would be almost impossible for it to be a coincidence that multiple entities were using the exact same system to accumulate.”
Along with this, the analyst conducted a manual analysis of the average entry price for the whale, arriving at a figure of $22.86 as the break-even price for the altcoin now.
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