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DNAStar Beefs up Protein Structure Prediction With DeepMind-Powered NovaFold AI – GenomeWeb

CHICAGO This month, DNAStar formally launched NovaFold AI, an update to its NovaFoldprotein structure prediction software that incorporates the AlphaFold2 artificial intelligence system from Google sister company DeepMind Technologies. The company had introduced a beta version of the product, dubbed NovaFold AI powered by AlphaFold2, in February.

Steve Darnell, team leader of DNAStar's structural biology and protein team, called NovaFold AI a cloud version of the AlphaFold 2 pipeline. The offering lets usersaccess the AlphaFold protein structure prediction method from within DNAStar'sNovaCloud Services interface of the firm's Protean 3D visualizationand analysis suite.

He said that AlphaFold 2 is designed to help researchers without a bioinformatics background predict structures.

"This release allows customers to more tightly integrate the analysis with running the prediction," added DNAStar General Manager Shawn Grass.

Madison, Wisconsin-based DNAStar sees NovaFold AI as a growth opportunity.

"The structure market has been a little more challenging for us to get into, because when people think of us, they think of just DNA. They don't think of us in the protein area," Grass said. "Our hope is with the excitement and buzz right now about structure prediction that this will give us an opportunity to expand our reach."

DNAStar, which has been in business since 1984, is actually quite active beyond DNA.

Last year, the privately held firm introduced version 17.3 of its Lasergene software for DNA, RNA, and protein sequencing assembly and analysis. That release added viral genome analysis workflow support for Pacific Biosciences and Oxford Nanopore long-read sequences, including data from PCR-amplified fragments generated according to Artic network protocols. The update was also optimized forgenomic analysis and variant identification to support COVID-19 research.

Lasergene, which serves the molecular biology and genomics markets, is one DNAStar's two product lines. It includes a series of applications for tasks like genome visualization, sequence assembly, sequence alignment, and in silico cloning. DNAStar's molecular visualization and analysis platform, Protean 3D, is technically part of Lasergene as well.

"Protean 3D has a tight integration between its sequence representations and its structural representations through a selection model," Darnell explained.

Lasergene products are "general tools" aimed at anyone in molecular biology or genomics looking to manage pipelines and workflows, according to Grass. He said that a fair number of customers mistakenly refer to the company as Lasergene because the product name is well known in some circles.

The other DNAStar product line, for structural biology applications including structure prediction, docking, and antibody modeling, is called Nova.

NovaFold is the commercialization of I-TASSER, protein structure prediction software developed by University of Michigan bioinformatician Yang Zhang. In 2015, DNAStar licensed the exclusive commercial rights to I-TASSER and markets the technology as part of Protean 3D.

The firm also licenses technology for its NovaDock protein-protein docking software from Cancer Research UK. Darnell said that the company's products represent a mixture of DNAStar-developed tools, freely available external tools like AlphaSeek, and licensed technology.

DNAStar is not directly partnering with DeepMind, which makes some of its AlphaFold technology available through open-source channels.

Grass said that DNAStar has not made any additions or other changes to the AI that AlphaFold provides. "It's something we are always looking at, but right now, we felt it was best to leave it just how it was," he said.

What the company does offer with the new release is the ability to add AlphaFold structure predictions as templates to the core NovaFold software to guide the modeling process toward these predictions. "What we also bring to the table is the additional downstream analysis outside of just coordinate generation," according to Darnell.

Most of the tools in both product lines are integrated on DNAStar's NovaCloud infrastructure, which the firm has been building up for the last five or six years.

DeepMind's AlphaFold had the highest score in the 14th and most recent Critical Assessment of Structure Prediction (CASP) competition in 2020, in which entrants are given the amino acid sequences for about 100 proteins to then predict their structures.

"It certainly excels wonderfully at fold recognition and modeling," Darnell said. He added that AlphaFold will be entered in CASP 15 this summer, a competition that will have a greater focus on predicting multimers.

That is a direction DNAStar wants to go in with NovaFold 2.

"The direct structure prediction of multimers is definitely where I believe the field is certainly looking forward toward, as well as different and better approaches for doing multi-domain proteins," Darnell said. "A tool like AlphaFold can identify and actually model different domains in isolation within a multi-domain sequence."

Darnell also expects to see more activity around protein-protein docking technology in subsequent years.

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This Week’s Awesome Tech Stories From Around the Web (Through May 28) – Singularity Hub

ROBOTICS

Dyson Reveals Its Big BetRobotsJasper Jolly | The GuardianDyson has signaled it is placing a big bet on producing robots capable of household chores by 2030, as it looks to move beyond the vacuum cleaners, fans and dryers that made its founder one of the wealthiest British businessmen. The company, founded by billionaire Sir James Dyson, on Wednesday published photographs of robot arms being used in household settings, including cleaning furniture, a claw picking up plates, and a hand-like machine picking up a teddy bear.

The Big New Idea for Making Self-Driving Cars That Can Go AnywhereWill Douglas Heaven | MIT Technology ReviewWhen [the car veered to the side], Kendall grabbed the wheel for a few seconds to correct it. The car veered again; Kendall corrected it. It took less than 20 minutes for the car to learn to stay on the road by itself, he says. This was the first time that reinforcement learningan AI technique that trains a neural network to perform a task via trial and errorhad been used to teach a car to drive from scratch on a real road.

Quantum Internet Inches Closer With Advance in Data TeleportationCade Metz | The New York TimesWhen data travels this way, without actually traveling the distance between the nodes, it cannot be lost. Information can be fed into one side of the connection and then appear on the other, Dr. Hanson said. The information also cannot be intercepted. A future quantum internet, powered by quantum teleportation, could provide a new kind of encryption that is theoretically unbreakable.

Accused of Cheating by an Algorithm, and a Professor She Had Never MetKashmir Hill | The New York TimesSuddenly [during the pandemic], millions of people were forced to take bar exams, tests and quizzes alone at home on their laptops. To prevent the temptation to cheat, and catch those who did, remote proctoring companies offered web browser extensions that detect keystrokes and cursor movements, collect audio from a computers microphone, and record the screen and the feed from a computers camera, bringing surveillance methods used by law enforcement, employers and domestic abusers into an academic setting.

Walmart Is Expanding Its Drone Deliveries to Reach 4 Million HouseholdsMitchell Clark | The VergeIt sounds like Walmarts not just trying to expand the programs footprintthe company also wants to increase the number of packages its delivering via drone. In its press release, the company says its completed hundreds of deliveries within a matter of months. With the expansion, it says itll have the ability to do more than a million drone deliveries a year.

Tiny Robot Crab Doctors Could Roam the Human Body One DayMonisha Ravisetti | CNETNorthwestern University researchers announced on Wednesday their quite adorable prototype of a crab-shaped mini-robot. It can run. It can jump. Its tiny enough to fit inside the o in this sentence. And its record-breaking. The team calls it the smallest remote-controlled walking robot ever constructed.

The Hype Around DeepMinds New AI Model Misses Whats Actually Cool About ItMelissa Heikkil | MIT Technology ReviewUnsurprisingly, de Freitass announcement triggered breathlesspress coverage that DeepMind is on the verge of human-level artificial intelligence. This is not the first time hype has outstripped reality. Other exciting new AI models, such as OpenAIs text generator GPT-3 and image generator DALL-E, have generated similarly grand claims. For many in the field, this kind of feverish discourse overshadows other important research areas in AI.

Could Nuclear Clocks Drive a Technological Revolution?Ethan Siegel | Big ThinkToday, atomic clocks play an essential role in telecommunications, financial transactions, computers, GPS satellite navigation technologies as well as a variety of scientific applications. We can synchronize clocks around the globe with ~nanosecond precisions. But still, there are limits to what we can do, and those are set by the physical limits of atoms. Yet theres a tremendous hope for surpassing all current limits by more than an order of magnitude: nuclear clocks. Heres the science of how it all works.

Niantic Positions Itself as a Capable Rival to Apple, Meta in Coming AR WarsMark Sullivan | Fast CompanyiAbout once a decade for the last 70 years, a new computing platform arrives and changes the way we work, play, communicate with each other, and lead our lives, Niantic founder John Nanke said of AR during his keynote Tuesday in San Francisco. Were now at the beginning of another one of those shifts, and it could be the most consequential one yet. This transition will truly blend the real and the digital world.i

Scientists CRISPRd Tomatoes to Make Them Full of Vitamin DEd Cara | GizmodoThe tomatoes of the future could help boost your levels of the sunshine vitamin. Researchers in the UK say theyve developed genetically edited tomatoes that can produce high levels of vitamin D with just an hour of ultraviolet light exposure. These edited tomatoes would ideally help provide a rich and plant-based source of the essential nutrient, which is commonly lacking in much of the population.

World Builders Put Happy Face on Superintelligent AIEliza Strickland | IEEE SpectrumOne of the biggest challenges in aworld-building competitionthat asked teams to imagine apositive future with superintelligent AI: Make it plausible. Were not trying to push utopia, [the Future of Life Institutes Ann Yelizarova] says, noting that the worlds built for the contest are not perfect places with zero conflicts or struggles. Were just trying to show futures that are not dystopian, so people have something to work toward, she says.

Humans Could Go Extinct. Heres How and Whos Trying to Stop ItErin Carson | CNETiThe end of the world is such a great concept for giving shape to history, says [Oxfords] Anders Sandberg. We want to know how it ends. We want there to be a meaning or a tragedy or a comedy. Maybe a laugh track at the end of the universe. It turns out, scientists, scholars, policy experts and more are studying this question, trying to decipher how humanitys end could come about, and whether theres anything that can be done to prevent it.

Image Credit: niloy tesla / Unsplash

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Bitcoin vs Ethereum Forbes Advisor UK – Forbes

Bitcoin and Ethereum are the Coca-Cola and Pepsi of the cryptocurrency space. As the number one and two biggest names in the market, theyre often compared against one another.

From premise to prices, the two concepts are very different. However, there are many similarities to be found. Heres a look at how the two systems compare.

Bitcoin and Ethereum are systems, whereas bitcoin (lower case b) and Ether are the cryptocurrencies used by those systems. When comparing the two ecosystems, we need to be clear whether were comparing the technology, the assets or both.

In this article, we will refer to the systems by name and the currencies by their stock symbols. For bitcoin, thats BTC. For Ether, its ETH.

Bitcoin and Ethereum are fundamentally different because the former was designed to enable decentralised finance while the latter was designed to also enable apps and contracts.

While Ethereum does enable payments using its internal ETH cryptocurrency, its scope is much broader than Bitcoins by design.

Both systems use blockchain technology to validate and record transactions, but the way in which they do it is different, with consequences for speed, sustainability and accessibility.

The difference lies in whats known as a consensus mechanism.

A consensus mechanism is a computer algorithm that makes a blockchain viable. It does this by solving whats known as the double spend problem.

A 10 note, once spent, no longer belongs to you, so you cant spend it again. A BTC is a string of computer code, and could be copied infinitely. In theory, this means you could make yourself as rich as you liked by simply making copies of your BTC and spending it over and over again.

However, when you send someone a BTC, your copy is destroyed and a new version of it is created in the recipients account.

This is all recorded on a distributed ledger for the world to see. Since everyone can see on their copies of the ledger that youve spent your BTC, you cant attempt to spend a copied version of it the consensus of ledger holders would be that you were trying to pull a fast one.

Doctoring one transaction is hard enough, but youd actually also have to change every subsequent transaction since each one references its forerunners.

This would take an incredible amount of computing power and effort, plus youd need to control 51% of the distributed ledgers on the network to get the consensus necessary to etch your fake history of transactions onto the blockchain and take your freshly mined crypto as reward.

Bitcoin and Ethereum use different consensus mechanisms.

Bitcoins is called proof of work while Ethereums is called proof of stake.

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This consensus mechanism asks participants to carry out complex computations for the chance to become the user who gets to validate a bunch of transactions and add them to the blockchain earning a set amount of crypto in the process..

The work involves guessing, as closely as possible, a unique, alphanumeric string of 64 characters.

There are trillions of possible combinations to these strings, so those with the most powerful computer hardware can make the most guesses per second within the 10-minute window of opportunity, and have the best chance of being the chosen validator.

In order to get a doctored copy of the ledger validated and added to the block, youd need to control at least 51% (a consensus) of the computing power of a network, which would be astronomical. This is how the consensus method prevents fraud.

This work used to be done by hobbyists at home, but the processing power needed increases over time, so the mining process is now the reserve of companies and specialist organisations i.e. those who can afford the hardware and the power needed to run it.

Proof of work systems such as Bitcoin have drawn a lot of criticism for the amount of energy expended by the computer hardware involved. Bitcoin currently uses 19 terawatt hours (TWh) of electricity per year. Thats just under the amount used by the entire nation of Norway.

This consensus mechanism asks participants to stake their own money for the chance to validate transactions and add a block to a blockchain, rather than carry out complex computations.

The more crypto someone stakes, the greater their chances of being chosen to validate a block of transactions to a blockchain and earning a set amount of crypto. The system also discourages bad actors with financial penalties.

Proof of stake stacks the deck in favour of people with more money, but protects against people adding fraudulent records to the blockchain because theyd need to stake at least 51% of the money in the network to control a consensus.

Without the need for powerful computer hardware, proof of stake is considered a more environmentally friendly consensus mechanism than proof of work.

Bitcoin was developed solely to facilitate decentralised payments, that is, to allow people to send and receive payments without an intermediary such as a bank. Ethereum, on the other hand, was designed to do more than just send and receive ETH.

Using blockchain, which provides an immutable record of transactions, Ethereum was designed to facilitate decentralised software such as smart contracts and distributed apps (dApps).

A smart contract is a digital agreement between two or more parties that will execute itself once certain conditions are met.

For example, Account A will release Asset X once it has received Asset Y from Account B. This could be used to make property sales and the transfer or ownership faster and less liable to fraud.

A dApp is an application that isnt controlled by a central authority. Twitter is an example of a centralised app, with users relying on it as an intermediary to send and receive messages. As such, users play by the rules it enforces and the algorithm it uses to control content.

A dApp is distributed on a blockchain, with users able to send and receive data directly without the need for an intermediary. Peepeth is a Twitter-like dApp. It claims that as an app it doesnt optimise for advertising revenues, an issue it says users of centralised apps suffer from.

So while you could say that Bitcoin is larger, but Ethereum is faster, the two arent strictly in competition with each other because theyre designed to do different things. BTC and ETH, on the other hand, are directly comparable.

BTC has certainly been more valuable than ETH, peaking at around $64,000 in November 2021. ETH on the other hand peaked at around $4,600 in the same month.

Despite the stark difference in their values, the two cryptocurrencies values have historically shown strong positive correlation to each other, trending between 0.7 and 0.8 for much of that time (with 1.0 representing the strongest possible correlation) according to coinmetrics.io data.

Regardless, and as is the case with all cryptocurrencies, BTC and ETH are both volatile. Prices are unpredictable and prone to crashes.

The cryptocurrency market is unregulated in the UK. The UK financial watchdog the Financial Conduct Authority (FCA) has issued repeated and stark risk warnings to people thinking of investing in cryptocurrency, saying they should be prepared to lose their entire investments with no recourse to compensation.

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Billionaire Bill Miller Says Upcoming Ethereum Upgrade Will Leave Bitcoin With One Massive Advantage Over ETH – The Daily Hodl

Legendary investor Bill Miller says the upcoming Ethereum (ETH) switch to a proof-of-stake network will saddle Bitcoin (BTC) with one huge advantage over the top altcoin.

In a new interview on The Investors Podcast Network, the billionaire investor says ETHs switch from a proof-of-work to a proof-of-stake consensus mechanism could increase financial inequality, a problem that wouldnt be found on the top crypto asset by market cap.

The other thing with proof of stake is one of the big problems that people talk about as a problem in the United States is inequality. Well, proof of stake basically is the most unequal thing you can imagine, because the rich people make all the decisions.

And if you have more stakes, if you have more Ethereum at stake, meaning you own more of it than somebody else, you get whatever the votes are. Its like if you own more shares than If you own 50% of the shares of Berkshire Hathaway, you can determine whats going to happen with Berkshire Hathaway.

And if you own 50% of the Ethereum, you decide whats going to happen with it, and nobody else can say it. Thats a problem that Bitcoin doesnt have. Its truly democratic.

Miller goes on to say he considers BTC as a sort of insurance against an economic meltdown, citing the political situations of Venezuela, Nigeria, Lebanon, Ukraine, and Afghanistan as examples.

If you had Bitcoin, you were fine. Your Bitcoin is there. You can send it to anybody in the world if you have a phone. And so I consider Bitcoin basically an insurance policy against financial catastrophe of one sort or another.

Miller revealed in January that half of his net worth was invested in Bitcoin.

Bitcoin is changing hands at $28,607 at time of writing, down 1.34% in the last 24 hours, while Ethereum is trading for $1,732, a 1.16% drop over the same timeframe.

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Bitcoin could fall to $8,000, a more than 70% plunge, Guggenheim’s Minerd says – CNBC

Bitcoin could drop further and fall to $8,000 from its current levels, Guggenheim Chief Investment Officer Scott Minerd predicted Monday.

That would represent a more than 70% drop to Monday morning's price of just over $30,000.

"When you break below 30,000 [dollars] consistently, 8,000 [dollars] is the ultimate bottom, so I think we have a lot more room to the downside, especially with the Fed being restrictive," Minerd told CNBC's Andrew Ross Sorkin in a "Squawk Box" interview at the World Economic Forum in Davos, Switzerland on Monday.

Minerd is referring to the U.S. Federal Reserve's hiking of interest rates and tightening of monetary policy.

Since falling below $30,000 earlier this month, bitcoin has struggled to rally substantially above that level. It has regularly dipped below $30,000.

Scott Minerd,Guggenheim Partners LLC Global Chief Investment Officer, at the WEF in Davos, Switzerland on May 23rd, 2022.

Adam Galici | CNBC

If Minerd's forecast comes true, it would inflict further pain on bitcoin and the broader cryptocurrency market which has seen around $500 billion wiped off its value in the past month. Bitcoin is down around 24% in the last 30 days alone.

The CIO also said that most crypto is "junk" but that bitcoin and ethereum will survive.

"Most of these currencies, they're not currencies, they're junk," he said.

Even so, he said, "I don't think we've seen the dominant player in crypto yet."

Minerd compared the current situation to the dotcom bubble of the early 2000s.

"If we were sitting here in the internet bubble, we would be talking about how Yahoo and America Online were the great winners," he said. "Everything else, we couldn't tell you if Amazon or Pets.com was going to be the winner."

"I don't think we have had the right prototype yet for crypto," he said, saying that currency needs to store value, be a medium of exchange and unit of account.

"None of these things pass, they don't even pass on one basis," he said. Minerd added that additional technological advances could change that and help create an ecosystem where people get used to using cryptocurrencies for transactions and are confident they will hold their value.

Minerd's comments come after European Central BankPresidentChristine Lagarde said cryptocurrencies are "worth nothing."

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Luxury Vacation Rental Platform Swish Now Accepting Bitcoin through partnership with NordikCoin – GlobeNewswire

MARBELLA, Spain, May 28, 2022 (GLOBE NEWSWIRE) -- Swish (https://swishmarbella.com) is a luxury rentals platform based in Marbella that offers an exclusive collection of high-end homes. Swish's mission is to open the doors of the most beautiful homes, enabling the global traveler to live countless love stories, without the commitment. Swish has now partnered with licensed Estonian cryptocurrency exchange NordikCoin (https://nordikcoin.com) to offer Bitcoin as a valid payment option for its clients. NordikCoin is operated by OmniMatrix O, fully licensed as a crypto exchange in Estonia since 2019. The new collaboration will allow sunseekers to pay for their luxury vacation rentals using Bitcoin.

The client booking a luxury rental on the Swish platform gets quoted a sum in Bitcoin, at which point the rate is locked until the transaction is completed. As a regulated financial institution with strict license requirements, NordikCoin will oversee the transaction, ensuring it follows the highest KYC and AML standards. This also acts as a safeguarding measure for the client.

"We are happy to set a new standard in the luxury vacation rental market," says Karen Ayat Issa, CEO of Swish Marbella.

"We believe Bitcoin can have a transformative effect on global commerce; especially in the high-end market. At Swish, a typical lease is between 10,000 to 100,000 EUR per week. These are large transactions which often take days to clear and create sizable transaction costs for our clients.Here, Bitcoin serves a clear purpose, by offering fast, seamless international payments. What's more, with the recent influx of Bitcoin millionaires, it's an interesting market opportunity for us."

David De Marco, CEO of NordikCoin's parent company OmniMatrix, is also enthusiastic about the deal: "We are ecstatic to be working together with a company like Swish. They are best in what they do; offering luxury rentals to a global audience. We are really impressed with what they have managed to build in a short period of time and look forward to opening up the Bitcoin market together for international high-end travelers."

The Swish-NordikCoin agreement officially starts 1st of June and is available for all new and present customers of Swish.

Press contact:

Karen Ayat IssaCo-founder and CEOkaren@swishmarbella.com

Related Images

Image 1: Swish leads in the High End Travel Sector by Accepting Bitcoin Payments

Swish leads in the High End Travel Sector by Accepting Bitcoin Payments

This content was issued through the press release distribution service at Newswire.com.

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Ill Be Buying Bitcoin at the Top Forever: MicroStrategy CEO – U.Today

Yuri Molchan

Michael Saylor is determined to keep buying Bitcoin

During his recent appearance at Fox News, co-founder and chief executive of MicroStrategy, Michael Saylor, shared whether his view on Bitcoin has changed recently.

Saylor is a renowned Bitcoin evangelist, who believes BTC is an ultimate safe haven and an inflation hedge.

Answering the questions of the Fox News anchor Tucker Carlson, Saylor shared that since 2020, when the pandemic broke out, the leading digital currency has demonstrated a staggering growth of 229 percent, while the US money supply has been increased by 36 percent, gold gone up 7 percent, S&P 500 is up 29 percent, and the Nasdaq 100 has risen 19 percent.

Therefore, Saylor, is certain that if you are able to handle the volatility and take a long-term view, Bitcoin is a safe haven.

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When asked about the current strategy of the company, Saylor stated that MicroStrategy is not selling any of its BTC, but they are buying more of it whenever there is any spare cash. What is more, the CEO added that they plan to be buying at the top forever.

As of April 5, the business intelligence software producer MicroStrategy holds a comprised 129,218 Bitcoins worth $3,723,248,686 at the time of writing.

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Bitcoin, Telegram, Slack, Reddit, and Twitter- Decoding latest mystery of social volume – AMBCrypto News

Social volume is considered an integral part of the cryptocurrency market. This happens to be an extremely important indicator for traders/investors to determine future profitability.

Telegram, Slack, Reddit, and Twitter are used by the crypto teams to communicate updates, announcements, and roadmaps with the rest of the community. The latest status check has a lot of interesting revelations.

The crypto market has witnessed a massive correction and sell-offs in the month of May. Given the sentiment, even overall discussion levels on social media platforms have continued to decline.

But heres a small twist that could help revive the network. Overall social volume across Telegram, Reddit, and Twitter now show differing behaviors.

Source: Santiment

The on-chain analysis platform, Santiment in a 28 May tweet stated,

As crypto market caps continue to wane, were watching the differences in overall discussion levels on Telegram, Reddit, and Twitter. Twitter has the highest rise in crypto interest since 2021, while Telegrams more anonymous platform has fallen.

To better understand this effect, lets consider the largest coin, Bitcoin. The king coin maintained a direct relationship with social sentiments. Social volume can have a snowball effecton price movements, both to the upside and downside.

Looking at social volume (the sum count of content that mentions Bitcoin-related terms at least once, particularly on Reddit, Twitter, and Telegram), one could see a positive correlation.

Likewise, consider the active Telegram users in correlation with Bitcoin- even though the outcome remains a bearish one, but at least the relationship remains strong.

At press time, Bitcoin suffered yet another correction of 2% as it traded around the $28k mark. The correlation stood strong.

Twitter saw the highest rise in crypto interest since 2021. The other platforms cant be seen in competition with the microblogging site.

Furthermore, one should also take note here that for BTC, the number of coins held on exchanges has declined, and reached an 18-month low of 2,208.613 as per data provided by blockchain analytics firm Glassnode.

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Galaxy Capital’s Mike Novogratz Believes Bitcoin Will Lead the Next Rally When the US Fed Pauses its – Ethereum World News

Summary:

The CEO of Galaxy Digital, Mike Novogratz, has forecasted that Bitcoin will lead the next rally once the US Federal Reserve eases its monetary tightening policy set to start next week. According to Mr. Novogartz, his forecast of a Bitcoin rally will be followed by that of digital assets linked to good projects.

He also explained that the crypto-verse would not go away, and the current pullback results from the industry adjusting to the popping of the asset bubble caused by the same US Fed. He said:

BTC will lead the next rally when the Fed pauses/flinches. Good projects will follow suit.

This industry will not go away.

We are just adjusting to the popping of an asset bubble caused by the Fed. Building revolutionary tech and change isnt supposed to be easy.

In an earlier Tweet, Mr. Novogratz pointed out that the ongoing crypto-market pullback will test investors convictions until it finds a bottom.

Furthermore, unlike traditional finance, crypto does not have the corporate buybacks and giant pension rebalancing that are currently causing a short squeeze in the equities market. He shared his insights on the ongoing crypto-market pullback through the following statement.

Crypto trades poorly. This is going to be a period that tests peoples convictions. We will find a bottom when we do. The break from trade-fi markets is because we dont have corporate buybacks and giant pension rebalancing that is causing this squeeze in equities.

Concerning when the US Fed might pause its monetary tightening policy that begins on June 1st, a recent report by Reuters anticipates that its monetary policy tightening might be paused in September if there is an economic deterioration and inflation subsides.

The pause will also probably happen at a time when interest rates will be ranging between 1.75% and 2%.The report by Reuters also quoted a note from Bank of America strategists, which further explained the possibility of a pause by the Fed through the following statement.

We have recently seen a tenuous but remarkable change in Fed communications, where some Fed officials suggest the option of downshifting or pausing later in the year as they reach 2% given the challenging macro backdrop, tightening of financial conditions, and potentially softening inflation.

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Russia Actively Discussing The Use Of Cryptocurrency In International Trade: Report – Bitcoin Magazine

Russias Ministry of Finance is considering allowing the use of cryptocurrencies for international trade, local news outlet Interfax reported on Friday.

The issue of using such digital currencies as barter transactions for international settlements is being actively discussed, said Ivan Chebeskov, director of the financial policy department of the Ministry of Finance, per the report.

Russian officials have teased at this possibility a couple of times this year.

In March, the chairman of the countrys Congressional energy committee, Pavel Zavalny, said in a press conference that Russia was open to accepting bitcoin for its natural resources exports. Zavalny explained that only friendly countries like China and Turkey would be given the option, as President Vladimir Putin had said the day before that unfriendly countries should pay for Russian gas in rubles.

In April, Russias tax authority proposed that legal entities in the country should be able to accept bitcoin and other cryptocurrencies as payment in foreign trade contracts. The comment came as a suggestion for the nations overhaul cryptocurrency draft bill, presented in February by the Ministry of Finance.

The finance minister appears to have played a big role in stirring the country away from a complete ban on Bitcoin. Its proposed draft legislation came after an intense dispute with the Bank of Russia, which held an opposing view regarding the optimal future of bitcoin and cryptocurrency regulation in the country.

Now, the ministry is considering bringing the broader group of digital currencies under the allowed payment methods for international trade as the country faces continued Western sanctions that began in February, when U.S. President Joe Biden blocked five of the biggest Russian banks and froze all assets they held in America, worth over $1 trillion.

If the digital currency is recognized as property, in principle, within the framework of barter transactions with such a digital currency, it will be possible to carry out operations on foreign economic activity, Chebeskov said, per Interfaxs Friday report. This topic is being discussed and, it seems to me, deserves attention, given that we have limited possibilities for settlements in the classical, traditional payment infrastructure.

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