Cryptocurrency
Apple co-founder’s crypto gains over 1,300% within a few days after launch
The fast-rising crypto, WOZX has just hit a market capitalization of over $1 billion within days of launch which is over 10x the value of its listing price.
A pretty unknown crypto technology known as Efforce, co-created by Apple’s co-founder, Steve Wozniak, designed a system to leverage the power of blockchain in democratizing access to energy efficiency projects, investment opportunities, and its token is known as WOZX.
READ: Stripe plans corporate banking services for merchants, vendors
What you should know about WOZX
The fast-rising crypto, WOZX has just hit a market capitalization of over $1 billion within days of launch, which is over 10x the value of its listing price.
- WOZX is currently trading at $1.4840 per coin on HBTC, up 1,300% from its initial price of $0.
- Wozniak, the celebrated co-founder of Apple and the crypto project Efforce (WOZX token) spoke on the need for operational efficiency, as the world embraces energy conservation.
READ: U.S investment giant, with $295 billion assets plans to buy Bitcoin
Wozniak further disclosed this through his involvement in Efforce.
He will continue to support business efficiency, by expanding its access to energy developments as well as public access to energy efficiency investments.
Wozniak said, “Energy consumption and CO2 emissions worldwide have grown exponentially, leading to climate change and extreme consequences to our environment. We can improve our energy footprint and lower our energy consumption without changing our habits. We can save the environment simply by making more energy improvements.
READ: Rich Bitcoin investor moved $175 million worth of BTC for just $0.84
“We created Efforce to be the first decentralized platform that allows everyone to participate and benefit financially from worldwide energy efficiency projects, and create meaningful environmental change,” said Wozniak.
“In these difficult times, many small companies are struggling. They can’t afford to switch to LED lighting, streamline production processes, or even insulate to conserve heat, all of which could save them money in the long term.
READ: The plot behind Access Bank’s Mareva injunction against Seplat and Cardinal Drilling
“Efforce allows business owners to safely register their energy upgrade projects on the web and secure funding from all types of investors around the world. The companies will then have more available cash to use for other critical projects such as infrastructure or hiring.”
READ: Amaechi proposes a capital budget of N205 billion for Ministry of Transportation in 2021
How Efforce works
Efforce helps by evaluating the investment required, calculating the expected return, and creating an Energy Performance Contract (EPC) that reveals the savings and the periodicity of the returns for its investors and the business.
- The crypto structure then lists the project for crowd contribution.
- Stakeholders can buy into the project using fractional or whole WOZX tokens.
- Efforce measures energy savings on these projects through smart meters attached to the blockchain. The savings data are loaded to the investor’s profile as an energy credit for use or sale by the investor.
- Energy credits are distributed in megawatt-hours.
Cryptocurrency
Unknown Bitcoin whale moves $714 million, Bitcoin stays above $60,000 mark
The flagship crypto traded at $60,514.60 on the FTX exchange with a daily trading volume of $45.5 billion.
Bitcoin whales are moving the vastly used treasury crypto in large amounts amid price volatility and bullish rush, as Bitcoin bulls regain control above the $60, 000 mark.
Data retrieved from BtcBlockBot an advanced crypto blockchain tracking and analytics firm, an anonymous cryptocurrency user revealed someone (possibly http://coinbase.com) moved 11,901 BTC $714 million in block 678,688.
Whale alert! 🐋 Someone (possibly http://coinbase.com) moved 11,901 BTC $714 million in block 678,688
READ: XRP surges by 150% in 7 days as Ripple posts early victories against SEC
Whale alert! 🐋 Someone (possibly https://t.co/jIWhXDP3O5) moved 11,901 BTC ($714M) in block 678,688 https://t.co/harpPfXLjD
— Bitcoin Block Bot (@BtcBlockBot) April 11, 2021
The tracker further disclosed that the whale may have come from the world’s pioneer crypto exchange, Coinbase.
Nairametrics’ research has recently seen the surge in unknown crypto transactions involving Bitcoin, Ethereum, and other top crypto assets at levels not previously seen in the cryptoverse suggesting that more institutional players are getting into the game.
At the time of writing, the flagship crypto traded at $60,514.60 on the FTX exchange with a daily trading volume of $45.5 billion. Bitcoin is down 0.04% for the day.
READ: Why Bitcoin is still going up
During bull trends in the cryptoverse, these large entities can take profit on their positions, especially if the futures market is overcrowded.
Wealthy investors reducing their crypto exposure to rebalance their portfolios can cause high price swings in the market, especially when accompanied by cascading liquidations.
However, recent data suggests otherwise as data retrieved from Glassnode points at entities holding more onto the world’s most popular crypto, rather than selling; as data shows Bitcoin balance on Crypto Exchanges just reached a 2-year low of 2,337,271.262 BTC.
A previous 2-year low of 2,338,724.621 BTC was observed on 08 April 2021.
READ: FG moves to recover N5.2 trillion debt owed by firms, individuals
📉 #Bitcoin $BTC Balance on Exchanges just reached a 2-year low of 2,337,271.262 BTC
Previous 2-year low of 2,338,724.621 BTC was observed on 08 April 2021
View metric:https://t.co/9vOOAmwh32 pic.twitter.com/sV3lhECEGU
— glassnode alerts (@glassnodealerts) April 11, 2021
Cryptocurrency
XRP surges by 150% in 7 days as Ripple posts early victories against SEC
This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.
Amid the strong bullish rally at play in the cryptoverse, Ripple’s XRP looks to be leading the way with a push as it almost triples in value following a series of legal victories and social media rumours of relisting at some crypto exchanges like Coinbase.
This surge has pushed the fast-rising crypto into the top 5 cryptos by market value, behind only Bitcoin, Ethereum and Binance Coin.
At the time of writing this report, XRP traded at $1.47 with a daily trading volume of $29.3 billion. XRP is up 147% for the week with a current market value of about $67 billion.
READ: Why this unknown crypto with over 600% gain in 3 months, might still explode
The surge in this crypto asset is coming amid a lawsuit from the SEC which accused XRP’s $1.3 billion initial coin offering of being an “unregistered securities offering.” The allegation led most American crypto multiple exchanges to delist the crypto and XRP lost its place as the 3rd largest crypto by market value.
That being said, crypto traders appear to be backing the crypto asset amid credible reports suggesting that Ripple lawyers have posted two victories in their legal tussle against the powerful American regulator, including gaining access to internal Securities Exchange Commission discussion history regarding crypto assets.
READ: XRP stands firm, investors wait on Ripple’s legal outcome
What this means
Such access by Ripple’s lawyers to these records would offer them insights into why the Securities Exchange Commission has not deemed Bitcoin and Ethereum a security asset.
1 Comment