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Australian Firm NYBlue Secures Over One Million Carats of Blue Zircon, Launches RWA Token

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[PRESS RELEASE – Brisbane, Australia, August 7th, 2024]

Australian gemstone company NYBlue Pty Ltd has emerged as a key player working to redefine the global gemstone market. The company’s strategic venture involves a plan to secure control over the world’s blue zircon supply, a move that holds the potential to reshape the value dynamics of the global gemstone market.

Previously this month, the company released its whitepaper, detailing its current pre-sale and subsequent public float of its ‘real world asset’ cryptocurrency, following its announcement of holdings of more than one million carats of the rare gemstone.

NYBlue’s primary strategy lies in systematically increasing its current holdings, to continue acquiring all available Cambodian blue zircons, establishing control over the supply chain and potentially influencing the future value of these precious stones.

Earlier today company representatives were interviewed on CryptoBanters’ Town Hall podcast, to announce the launch of their RWA token pre-sale which has garnered considerable interest from the crypto community since being announced earlier this year.

A video released by NYBlue questions rhetorically “What would be a more appropriate display of affection, for your significant other; a piece of compressed, common, carbon, or instead something more ancient than Earth, exceedingly rare, and twice as brilliant as diamond?

NYBlue majority shareholder, Mitch Brownlie has stated “We believe that Cambodian blue zircon deserves recognition as one of the most extraordinary, underappreciated and undervalued gemstones on the market”

The Australian company NYBlue; is financed by Australian AgTech founder & former political advisor; Mitch Brownlie, who has recently discussed the project on various podcasts; often comparing the NYBlue project with a previous gemstone rally; when the African gemstone ‘tanzanite’ surged from obscurity, to reach parity with Diamond.

Tanzanite Spot Price – An inspiration for NYBlue.

NYBlue draws inspiration from the historical trajectory of the tanzanite market, where prices experienced a tenfold increase over three years. The company anticipates a similar trajectory for zircons, aligning its strategy with past successes to project a potential surge in value.

NYBlue, has previously announced its plan to launch its gemstone-backed cryptocurrency codenamed ZIRC where each token is fully backed by and redeemable for a 1-carat blue zircon gemstone. This approach allows consumers to benefit from the rise of blue zircon without the risks of volatility associated with traditional cryptocurrencies. Owners of Zirc tokens will have the option to redeem their cryptocurrency for gemstones at any time, ensuring a stable, arbitrage-enforced peg between the two assets.

NYBlue aims to acquire the majority of globally available gem-quality blue zircons, effectively positioning itself as a dominant force in the market. This approach is designed to exert influence over the supply chain, creating a ripple effect on the market value of blue zircons across the industry.

NYBlue’s strategic initiative is not a short-term play; it is an ambitious endgame to secure a controlling stake in the multi-billion-dollar gemstone market. With a collection of gemstones valued at around $300m, NYBlue aspires to redefine the gemstone narrative on a global scale. This venture positions the company as a significant player, with the potential to impact the industry’s landscape for years to come.

In their quest for dominance in the gemstone market, NYBlue has announced a new and highly disruptive initiative; the launch of a blockchain-backed cryptocurrency named ZIRC, with each unit of the blockchain being fully backed by; and redeemable for a 1 carat blue zircon gemstone. This innovative approach allows individuals to participate in the potential rally of blue zircon values, by offering exposure to the underlying commodity without the inherent risks associated with traditional highly volatile cryptocurrencies.

Buyers have the option to redeem their ZIRC tokens for actual gemstones at any time, effectively eliminating the possibility of the token’s value dropping below the market price of the gemstone itself, providing consumers with a tangible and secure asset. This strategic integration of blockchain technology not only enhances transparency and security but also democratises access to the exclusive world of the international gemstone trade.

NYBlue’s PreSale is now live on Zir.co.nz

About Zirc

Zirc offers a cryptocurrency fully backed by blue zircon gemstones. Each ZIRC token is redeemable for a 1-carat blue zircon, providing a stable and tangible asset. The platform aims to integrate blockchain technology to enhance transparency and security, making it accessible for individuals to participate in the gemstone market without the risks associated with traditional cryptocurrencies. Zirc’s approach democratizes access to blue zircons and offers a unique investment opportunity backed by real-world assets.

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Cryptocurrency

Bitcoin Price Recovery Begins With Jump to $106K as Monero Marks 5% Increase (Market Watch)

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Following a dull weekend marked by a notable price dip to $103,000, bitcoin’s price has recovered some ground and reached $106,000 earlier today.

Most altcoins are with minor gains today, including HYPE, which has posted a 3% increase. XMR leads the larger-cap alts with a 6% surge.

BTC Aims at $106K

The all-time high registered on May 22 was followed by a violent correction on the following day when US President Trump warned that the EU might face another set of tariffs. Although the two parties reached some sort of an agreement and the tariffs were delayed for over a month, BTC failed to recapture its momentum and was stopped at $110,000 on a couple of occasions during the previous business week.

It continued to trade sideways until Friday evening, when Trump blamed China for violating their trade agreement. Beijing responded almost immediately, and bitcoin slumped by several grand. The culmination transpired on Saturday when BTC slipped to $103,100, which became a 12-day low.

However, it maintained that level on Sunday and even recovered some ground to around $104,000. During the Monday morning Asian trading session, BTC added a few more grand and tapped $106,000, where it faced some rejection and now sits about $500 lower.

Its market cap has risen to $2.1 trillion on CG, while its dominance over the altcoins is up to 61.5%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

XMR Pumps

Most altcoins have marked insignificant gains over the past 24 hours, such as XRP, BNB, SOL, DOGE, TRX, ADA, and SUI. HYPE stands out as the top performer from the largest 20 alts, while ETH has slipped inches below $2,500.

Monero’s native token has gained the most from the top 60 alts, as a 5.4% increase has pushed it to over $345. Other impressive performers include FLR, SPX, and FARTCOIN.

The total crypto market cap has increased by around $30 billion since yesterday and is up to $3.41 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Cryptocurrency

Modest Strategy Bitcoin Acquisition Brings Stash to Almost 581,000 BTC

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The world’s largest corporate holder of bitcoin continues with its BTC accumulation strategy, this time with a relatively modest purchase.

Announced just minutes ago, Michael Saylor’s brainchild has spent $75.1 million to acquire 705 BTC at an average price of $106,495 per bitcoin.

This week’s announcement is a lot smaller than almost all made since the US elections at the end of last year. Since then, the company has made countless purchases, many of which were in the billions of dollars.

Nevertheless, Strategy’s stash continues to increase and is now at 580,955 BTC, bought for $40.68 billion or an average price of just over $70,000 per BTC. This means that the current value of the holdings is well above $60 billion, given today’s bitcoin prices (or a paper gain of around $40 billion).

Earlier today, another big BTC accumulator, Metaplanet, announced its latest acquisition, which was even bigger than that of Strategy.

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Hope for Altcoins? Analysts Predict Epic Finale to This Bull Cycle

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A lot of market dynamics witnessed in past bull cycles have played out differently in this one. One of them is the on-chain patterns and trends that precede altcoin seasons, which refer to periods when alternative cryptocurrencies outperform bitcoin (BTC).

While traders are skeptical that the market will witness an altseason before this cycle is over, analysts at the on-chain data intelligence platform CryptoQuant believe that all hope is not yet lost. Investors still stand a chance to make profits with altcoins in this cycle.

Not Time to Lose Hope

In previous cycles, BTC rallies were preceded by a steady decrease in the proportion of mid-to-long-term holding volumes. With new capital flowing into the market at the time, altcoins eventually surged towards the end of those cycles. However, the opposite has been the case this time; mid-to-long-term holding volumes have surged each time BTC rallies to new highs.

According to pseudonymous analyst Crypto Dan, the price movement of altcoins in this cycle has tallied with that of BTC. Bitcoin has constantly faced corrections after small gains in this cycle, and during those dips, altcoins have also suffered significant declines, indicating overall weakness.

The current bull cycle is nearing its final stages, and at this phase, it is almost impossible for investors to make profits with altcoins. However, since altcoin rallies have corresponded with BTC surges, Dan insists there is still hope.

When Altseason?

Bitcoin is yet to experience its final leg for this cycle, which means the asset’s dominance is likely to decrease. If the market plays out as Dan predicts, then altcoins may experience higher rallies than seen in previous patterns when bitcoin’s dominance plummets, marking the end of the cycle. Hence, all indicators point to bitcoin’s next upward move, which could occur at any moment from now.

“It’s not time to abandon hope just yet. Since we’re already in the latter half of the cycle, it’s worth waiting for Bitcoin’s next upward move,” Dan stated.

It is worth mentioning that Dan is not the only analyst who believes altcoins still stand a chance. CryptoPotato reported that many other traders and analysts believe this altseason will be epic, making the rally seen in 2021 seem tiny.

However, some have warned that not all tokens will go up during the altcoin season. Only a few chosen assets will record significant gains as they attract new liquidity.

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