Sunday , October 17 2021
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Jordan Lyanchev



Articles by Jordan Lyanchev

Bakkt Goes Public: to Be Listed on New York Stock Exchange

19 hours ago

Several months after initially outlining plans to become a publicly-traded firm, Bakkt has announced that the event will take place on Monday – October 18th. Thus, Bakkt will join the likes of Coinbase as a cryptocurrency-related company having its shares traded on giant stock exchanges.
CryptoPotato reported at the start of this year Bakkt’s intentions to go public through a merger with VPC Impact Acquisitions Holdings.
The two parties indeed merged shortly after clearing the way for ICE’s Bitcoin futures platform to have its shares traded on a US exchange with an estimated enterprise valuation of $2.1 billion.
The company published a press release earlier this week confirming that it has completed all negotiations.
Bakkt’s shares of Class A common stock and warrants will

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Bitcoin Tapped $63K Amid Latest ETF Developments: BTC Dominance at 3-Month High

1 day ago

The latest developments in the US claiming that a Bitcoin ETF might be just around the corner pushed the cryptocurrency to $63,000 hours ago. Most altcoins have failed to follow their leader north, and the BTC dominance reached a near three-month high.
Bitcoin Came $2K Away from ATH
On October 13th – just three days ago – the primary digital asset had dipped below $55,000 after getting rejected at the $58,000 level. The situation quickly changed in the following days, and BTC headed north towards new multi-month highs.
At first, bitcoin neared $58,000 once more and, after a few more attempts, managed to overcome it decisively. This came amid reports that a Bitcoin Futures ETF could launch in the US as early as next week.
While the Securities and Exchange Commission is yet

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Third-Largest Bitcoin Whale Sold at $56K and Bought Back at $57K a Day Later

3 days ago

One of the largest Bitcoin whales, who has been quite active lately, sold 1,500 coins at $56,200 yesterday. Interestingly, they bought back a third of that quantity a day later at a higher price.
As outlined by CryptoQuant’s analyst going by the Twitter handle VentureFounder, the unknown BTC whale sold a large chunk of 1,500 bitcoins on October 3rd at $56,200 per coin. In USD terms, this substantial amount totaled $84,300,000.
This coincided with their recent strategy to dispose of some of the BTC holdings. Their address shows several sales in a row, including a massive one for 3,000 BTC on October 5th.
Previously, the whale had accumulated millions of dollars worth of the primary cryptocurrency from early September. In fact, their last sale evident in this address before

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Over 85% of Circulating Bitcoin Has Not Moved in Three Months or More: Analysis

4 days ago

The recent price surge from bitcoin has not deterred long-term holders from keeping their portions. Recent data from Glassnode informed that the percentage of BTC supply that has been held for at least three months had reached a record of over 85%.
BTC Holders Refuse to Sell
Citing data from the blockchain analytics company Glassnode, the Chinese journalist Colin Wu outlined the behavior of bitcoin holders and their most recent attitude towards the asset.
As the graph below demonstrates, the percentage of holders that have not moved their bitcoins in more than ten years stands at 12.3%. Those tokens are considered dormant because of it.
Similarly, those who haven’t transferred any BTC holdings between two and three years and three and five years are 10% and 12.26%,

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Cambridge Data: The US Has Become the Leader for Bitcoin Hash Rate

4 days ago

The consequences of the Chinese ban on anything crypto, including mining, have led to a massive flippening as the USA has surpassed China in terms of Bitcoin hash rate share, showed recent data.
The Demise of the Chinese Hash Rate Empire
Although bitcoin and the rest of the cryptocurrency industry have been banned within China’s borders for almost as long as they exist, the country was responsible for the majority of the BTC hash rate for a long time.
In fact, no other nation even came close as the cheaper electricity in China lured miners in. Data from Cambridge University’s mining map exemplifies this dominance. For example, China’s hash rate share was over 75% in late 2019.
As the country was progressing with its internal bans and was successfully ousting miners,

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All Top 30 Altcoins Crashed Against BTC Weekly: Shiba Inu (SHIB) is the Only One Up 80%

5 days ago

Bitcoin has been on a roll since the start of October and the past week in particular. It traded below $50,000 on October 5th but reclaimed that coveted line in the following days and kept climbing upwards.
It charted a multi-month high just shy of $58,000 hours ago, meaning a 17% increase in the span of a week. Usually, when BTC goes up, most alternative coins tend to follow suit at least against the dollar.
This doesn’t seem to be the case now as the majority have lost ground not only against the USD but against their leader too. There’s only one exception from the top-30 largest digital assets – the high-flyer Shiba Inu.
SHIB’s Gains Against BTC
It’s safe to say that Shiba Inu and its native token have garnered the attention of the cryptocurrency community lately. Among

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Regulation First: Elrond Aims to Acquire an e-Money Licensed Company in Romania

5 days ago

Although the regulatory approval is still pending, the popular blockchain project Elrond Network has already agreed to purchase Capital Financial Services S.A – the company licensed to operate an Electronic Money Institution (EMI) in the Euro Economic Area.
The press release shared with CryptoPotato explained that Capital Financial Services S.A. is a principal member of two of the largest global financial corporations – Visa and Mastercard.
This allows the firm to provide payment processing services to over 300 merchants, including the largest Romanian airliner – Blue Air.
In order for the acquisition to become official, Romania’s National Bank has to greenlight the move. If it does, Elrond said it would be a step of “strategic importance” for the blockchain project as it

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Despite the Recent Surge, Retail FOMO Absent From Bitcoin’s Current Bull Run

6 days ago

Although the price of bitcoin has increased by more than 35% in the past two weeks or so, retail investors have yet to return to the scene. Google trends data shows that the number of queries on the search engine is still a long way away from the previous heights.
No Retail Hype Yet: Google Trends
On September 30th, BTC dropped below $41,000 for the third time that week. Now, less than two weeks later, BTC trades above $56,000 after marking a new five-month high at $57,000 earlier today.
Such impressive price increases in relatively short time periods typically attract the masses. This doesn’t seem to be the case, now, at least according to data from Google Trends.
The number of “Bitcoin” queries on the world’s largest search engine is still relatively low and has barely

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Bitcoin Skyrockets to 5-Month High: Dominance Soars as Altcoins Lose Value Against BTC (Market Watch)

6 days ago

The price of bitcoin went on another run in the past 24 hours and briefly exceeded $57,000 for the first time in five months. Most alternative coins seem left behind as BTC’s dominance continues to increase.
Bitcoin Touched $57K
It’s safe to say that BTC has returned to its bullish trajectory after it recovered from its sub-$41,000 dips two weeks ago. In the days that followed, the cryptocurrency added a significant chunk of value, broke above $50,000 for the first time in a month, and only kept climbing.
It went above $56,000, which became a new high since the mid-May crisis, but was initially stopped there yesterday. In fact, the bears pushed it down hard as bitcoin fell below $54,500.
However, this drop seemed short-lived. BTC started gaining value once again and went

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Surpassing S&P500, Apple, Google, Gold and Silver: Bitcoin is Up 90% Year to Date

7 days ago

Bitcoin stands at $55,000 today, as of writing these lines. This means it’s about 90% up since the beginning of 2021.
While that’s impressive on its own, what’s even more notable is BTC’s performance compared to other well-known investment tools such as some of the most popular stock market indexes, the world’s largest companies, and precious metals like gold and silver.
BTC vs. all others – YTD 2021. Source: TradingViewS&P500 and Nasdaq Left Behind
The primary cryptocurrency entered 2021 at roughly $28.9k before it shot up to unseen heights in April at $65,000, which became the current all-time high. What followed were a few turbulent months prompted by FUD, initially from Elon Musk and later from China.
After it bottomed below $30,000 in July, BTC resumed its bullish run

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Bitcoin Dominance on the Rise as BTC Eyes $56K (Market Watch)

7 days ago

Following yesterday’s price slide below $54,000, bitcoin has started increasing in value once more and has neared $56,000. Although some altcoins like XRP and DOT have charted notable gains in the past 24 hours, BTC’s dominance has also risen.
Bitcoin Aims at $56K
The primary cryptocurrency exploded above $50,000 on October 5th and hasn’t looked back since. Just the opposite, it has been mainly on the offensive, which resulted in tapping $56,000 a few days ago for the first time in roughly five months.
However, breaking above that level turned out to be more challenging than expected as the bears intercepted the move and pushed BTC south. As a result, bitcoin dipped by a few thousand dollars and went below $54,000.
The situation changed once more in the past 24 hours.

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Bitcoin Consolidates as Shiba Inu (SHIB) Explodes 35% Daily Again (Weekend Watch)

8 days ago

After touching $56,000 for the first time in five months, bitcoin retraced slightly and currently stands around $55,000. Most altcoins continue with indecisive moves in either direction, except for Shiba Inu, which has gone on the offensive once more with a 35% daily surge.
Bitcoin Stalls at $55K
The past week or so showed once more how quickly the landscape could change in the cryptocurrency markets. Bitcoin entered October at around $45,000 after recovering $4,000 in days following the late-September crash to $41,000.
It started to increase in value rapidly and, in just a few days, knocked on the $50,000 door. Although the first attempt was not successful, BTC came back again and, this time, brought it down.
The bulls had more to give and kept pushing the asset north. As

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US SEC Approves an ETF Tracking the Performance of Bitcoin-Investing Companies

9 days ago

Just four months after the application, Volt Equity’s Volt Bitcoin Revolution ETF has received the green light from the US Securities and Exchange Commission. It will provide investors the option to invest in companies with direct exposure to BTC, such as MicroStrategy.
Back in early June this year, the California-based firm Volt Equity filed with the Commission documents to launch a different type of exchange-traded fund with indirect exposure to BTC.
The filing described the organizations included in the ETF as “Bitcoin Revolution Companies” since they have allocated significant portions in the cryptocurrency or are involved in it through developing or mining.
Under “normal circumstances,” the Fund will invest at least 80% of its net assets in domestic and foreign

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Leading Indian Short Video App Chingari Raises $19M to Complete its Solana-Based Token

9 days ago

One of the largest short-videos sharing platforms in India – Chingari – has successfully raised $19 million from investors such as Kraken, Alameda Capital, Galaxy Digital, and more. The company aims to launch its own token, enter the NFT world, and tap into the Solana blockchain.
Chingari Raises $19M
The press release shared with CryptoPotato explained that aside from the aforementioned investors participating in the fund round, other prominent names included Republic Crypto, LD Capital, Solana Capital, Valor Equity Partners, and Blackpine.
The company intends to utilize the substantial amount towards the growth of its existing products and the development of new ones. Chingari saw a massive redesign last year following the TikTok ban in India. Consequently, it managed to

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Binance to Close Down Derivatives Services for South African Users

9 days ago

Binance users based in South Africa will have until January 6th next year to manually close their derivatives positions as the exchange is halting these services. This is the latest action by the world’s leading crypto trading platform in its efforts to comply with local regulators.
As announced earlier on October 8th, Binance has alerted its South African customers that it will cease offering any derivatives services. More precisely, those are trading of futures, options, margin, and leveraged tokens.
Effective immediately, users based in the African nation will not be eligible to open new accounts for those products.
Existing clients will have 90 days to “reduce and close their positions” manually. They will still be able to top-up margin balances to prevent margin calls

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3 Possible Reasons Behind Bitcoin’s Surge towards $56k

10 days ago

After weeks of struggling and rapidly losing value, bitcoin exploded in the past few days and neared $56k – its highest price line since mid-May. Yesterday alone, the cryptocurrency gained more than $5,000 of value in hours.
While the bulls celebrate, it’s worth exploring potential reasons why that might be and could there be more similar developments hiding behind the corner.
Reason 1: Whale Purchases
Being an asset with a maximum supply of just 21,000,000 tokens with a large percentage of the existing ones lost or in the hands of long-term holders, the price of BTC could fluctuate hard whenever the so-called whales make substantial purchases (or sales).
Data presented by CryptoQuant’s CEO – Ki-Young Ju – provides a similar example. The purchase came roughly 24 hours ago

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Paysafe’s Neteller and Skrill Add Solana (SOL) Trading

11 days ago

Two of the largest digital wallet providers, namely Skrill and Neteller, will enable their millions of customers to buy and sell Solana’s native token – SOL. This addition comes amid the blockchain project’s rapid rise in terms of adoption and SOL’s price surge as of late.
SOL on Skrill and Neteller
Aside from allowing customers to interact with SOL, the announcement shared with CryptoPotato explained that both companies will provide direct fiat purchases due to the crypto integration services from Paysafe – the company that operates Neteller and Skrill.
The statement added that the decision has come following the substantial growth of the blockchain project, which has become the home of many DeFi and NFT protocols.
Now, Skrill and Neteller users will be able to manage

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Arab Bank Switzerland Enables Tezos Staking, Trading, and Storing as XTZ Charted New ATH

12 days ago

Arab Bank Switzerland will enable its institutional clients to store, stake, and trade XTZ – the native cryptocurrency of the popular blockchain project Tezos. This announcement comes amid the token’s recent price surge, which led it to a new all-time high.
The press release seen by CryptoPotato reads that the banking organization, founded in 1962, has selected Tezos to develop a new set of “innovative and compliant” on-chain digital financial products.
The private bank will also allow its customers to stake, store, and trade the XTZ token on its institutional-grade platforms.

“Digital assets are a cornerstone of our strategy, requiring strong agility while complying with the highest security standards. Our mission is to bridge tradition and cutting-edge innovation.

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Bullish? Bitcoin Long-Term Holder Supply Shock Ratio Goes to New Highs

13 days ago

The Bitcoin Long-Term Holder Supply Shock Ratio has gone into its highest territory in years, shows on-chain data. Historic comparisons reveal that this could mean that the price of the cryptocurrency could soon head upwards once more.
LTH Supply Shock
Citing data from the analytics company Glassnode, popular crypto strategist Will Clemente recently outlined the significant trend change of long-term holders and their behavior towards the primary cryptocurrency.
This coincides with numerous previous reports claiming that such investors, typically regarded as those who refuse to sell their coins for one year or more, have retained their BTC portions even in times of enhanced volatility.
Bitcoin Long Term Holder Supply Shock Ratio. Source: GlassnodeThe metric – Long-Term

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3 Factors That Could Initiate the Next Bitcoin Price Leg Up

14 days ago

Bitcoin’s price is more than 60% up since the start of the year. Yet, it’s nearly 30% down since the April peak. With just a few months left until the end of the year, predictions are flying left and right about the asset’s price tag at that point.
One of the most popular models – the Stock-to-Flow – sees BTC tapping into a six-digit territory by December’s end. If bitcoin is to go into such unseen and unimaginable (until recently, at least) heights, it would have to more than double its value in a few months.
As such, the creator of the model recently outlined some of the potential reasons that could propel such an impressive surge.
Bitcoin ETF Approval in The US
Perhaps one of the most discussed topics in the cryptocurrency space in the past year or so is whether the US

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Chinese Users of KuCoin Exchange Forced to Close Their Accounts Till End of 2021

14 days ago

Mainland Chinese users of KuCoin will have to withdraw all their funds and close their accounts by the end of the year, said the exchange earlier today. This is a direct consequence of the latest crackdown from the People’s Bank of China.
Citing the regulatory pressure from the Chinese authorities, KuCoin announced earlier on October 3rd that all local users will have to close their existing positions and withdraw the remaining funds out of the exchange before 24:00 (UTC +8) on December 31st, 2021.
More precisely, the company blamed this decision on the most recent crackdown initiated by the Chinese government.
As reported in late September, the nation’s central bank doubled down on its digital asset ban by prohibiting all locally operating organizations from dealing with

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Bitcoin Consolidates Amid $48K: Terra (LUNA) Soars 20% to New ATH (Weekend Watch)

14 days ago

Following the past few days of marking gains, bitcoin has calmed a bit around the $48,000 mark. Some alternative coins have kept climbing, though, with Solana surging 8% and Terra jumping to a new all-time high after a 20% daily increase.
LUNA Marks New ATH: Sol 8% Up
The alternative coins have been on a roll in the past few days after the mid-week price drops. Ethereum had dipped to $2,900 following the latest Chinese Fud. However, ETH has reclaimed more than $500 since then and currently stands at a multi-week high of over $3,400.
Cardano also fell hard and was close to breaking below $2. Now, though, ADA stands at nearly $2.3. Binance Coin has reclaimed $430 after another 4% daily increase. Minor gains are evident from Ripple, Polkadot, Dogecoin, and Uniswap.
Solana has

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The Analyst That Nailed Aug and Sep Bitcoin Closing Price Predicts BTC at $63K in October

15 days ago

Bitcoin’s price closed in September at a lower level than it did in August. While that may sound like a negative occurrence for BTC bulls, the popular cryptocurrency analyst PlanB actually saw this happening months ago and predicted the exact closing price.
Furthermore, he provided even more favorable prices for the end of October, November, and December.
Bitcoin to Close Oct at Near ATH?
BTC went through a roller-coaster in the past few months after the peak, which it reached in mid-April of $65,000. The subsequent retracement, caused initially by Elon Musk and later by the latest Chinese ban on the crypto industry, drove the asset south hard. In the following months, bitcoin had lost more than 50% of its value and dumped below $30,000 on numerous occasions.
The latest

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A Month Later: Cream Finance Reports Recovering $16M of the Stolen Funds

15 days ago

Roughly a month after getting exploited for the second time this year, Cream Finance has reported that it has recovered more than $16 million of the funds.
CryptoPotato reported on August 31st this year when the decentralized finance protocol Cream Finance suffered another security breach – this time, roughly $25 million in ETH and AMP were stolen.
At the time, the team behind the project promised to investigate the manner and provide frequent updates.
Now, approximately a month after the incident, Cream outlined a positive outcome, at least for a large chunk of the stolen funds.
The team asserted that its full commitment to retrieving those funds has led to the recovery of over 5,150 ETH. With today’s prices, this amount represents more than $16 million. Nevertheless,

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Bitcoin Reached $48K: AXS Skyrockets 50% to New ATH (Market Watch)

15 days ago

Following yet another price surge in the past 24 hours, bitcoin neared and even briefly exceeded $48,000. The alternative coins are also well in the green, with ETH closing down to $3,300. However, AXS is the most significant gainer once more, with a 50% surge to a new ATH.
Bitcoin Tapped $48K
A lot can change in the cryptocurrency space in just a few days. Back on September 29th, bitcoin struggled with its third consecutive drop below $41,000.
However, the bulls intercepted the move and pushed the asset north. In just a few hours, BTC had already added around $2,000 of value. That was not all, though. Promising news from the US emerged when Fed Chair Jerome Powell said the country had no intentions of banning digital assets.
Bitcoin spiked to around $47,000 almost

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Coinbase Admits Getting Compromised: At Least 6,000 Users Affected

16 days ago

The largest US-based cryptocurrency exchange has admitted to being exploited earlier this year when hackers stole assets from approximately 6,000 users. The company vowed to reimburse all affected users.
According to a copy of the letter sent to the affected customers, which was available on the website of California’s Attorney General, the exploits took place somewhere between March and May 20th this year.
It reads that an unauthorized third party had gained access to the accounts of at least 6,000 Coinbase clients and drained an undisclosed amount of funds from there.
The exchange explained that the security breach became possible because the perpetrators had “prior knowledge of the email address, password, and phone number” associated with each account.
The letter said

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Ripple to Launch a $250M Creator Fund to Bring NFTs to XRP Ledger

18 days ago

Ripple has announced the establishment of a new fund worth $250 million to support the building of non-fungible token projects on its XRP ledger. The company promised to provide artists with the necessary support.
Ripple took it to Twitter earlier on September 29th to outlined its newest endeavor, which this time will focus on the NFT industry.
The new product, dubbed the $250M Creator Fund, is set to “enable creators to explore new use cases for NFTs on the XRPLedger and engage more deeply with the communities they care about.”
To do so, Ripple plans to work with artists and marketplaces to provide them with the financial, creative, and technical support they might require.
The new initiative comes through a partnership with the creative agency VSA Partners and NFT

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Miami Working on Allowing Tax Payments in Bitcoin, Promised Mayor Suarez

19 days ago

A few months after hinting that Miami residents could soon be able to pay their taxes with bitcoin, the city’s mayor – Francis Suarez – said the process has begun as his team will issue the request in October.
Separately, Suarez also touched upon the most recent actions undertaken by the Chinese government, adding that the US could take advantage of this “huge mistake.”
Miami Citizens to Pay Taxes in BTC?
Being a BTC and ETH holder for a while, Francis Suarez has become one of the most popular political names in the cryptocurrency community in the past year or so. His significantly more open stance in regards to the industry resulted in holding the largest Bitcoin conference in his city earlier this year.
Appearing on Anthony Pompliano’s Best Business Show, Suarez received

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Ethereum’s Second-Largest Mining Pool to Shut Down on Sept 30 Amid China Regulatory Pressure

20 days ago

The second-largest ETH mining pool – Sparkpool – has announced that it has halted access to new users in Mainland China. Furthermore, the organization plans to abandon all of its services as of September 30th.
Based in Hangzhou, China, Sparkpool is the second-largest Ethereum mining pool responsible for more than 20% of the total hash rate, as the picture below demonstrates.
Ethereum Hash Rate Distribution. Source: EtherscanHowever, the company plans to seize all operations due to the most recent Chinese crackdown. The announcement published earlier this week reads that it has suspended access to new users who are located in Mainland China as of September 24th.
This part might be expected to a large extent because of the nation’s openly hostile stance against the

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Emurgo Launched $100 Million Investment Fund to Power DeFi and NFT Projects Building on Cardano

20 days ago

Emurgo, the commercial branch of the Cardano ecosystem, has released a new product focusing on investing in startup protocols that want to build on the Cardano blockchain. This comes after several notable announcements from Charles Hoskinson’s team in the past few days.
The official press release reads that the new investment vehicle, which will be a wholly-owned subsidiary of the parent company Emurgo, will have two separate branches with distinctive approaches.
Emurgo Africa will “support more than three hundred regional startups through seed funding and incubation, to ultimately have Cardano’s blockchain adopted as the technological platform standard in Africa for socially impactful solutions.”
This will continue Cardano’s already started initiatives in the continent.

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