USDT-settled futures contracts are gaining popularity, here’s why
USDT-settled futures contracts are gaining popularity, here’s why USDT-settled futures contracts are gaining popularity, here’s why When BitMEX launched its Bitcoin (BTC) perpetual futures market in 2016, it created a new paradigm for cryptocurrency traders. Although this was not the first platform to offer BTC-settled inverse swaps, BitMEX brought usability and liquidity to a broader audience of investors. BitMEX contracts did not involve fiat or stablecoins and even though the reference price was calculated in USD all profits and losses were paid in BTC. Fast forward to 2021, and the Tether (USDT) settled contracts have gained relevance. Using USDT-based contracts certainly makes it easier for retail investors to calculate their profit, loss and the required margin required but they also have disadvantages. Why BTC-settled contracts are for more experienced traders
Binance offers coin-margined (BTC-settled) contracts and in this case, instead of relying on USDT margin, the buyer (long) and the seller (short) are required to deposit BTC as margin. When trading coin-margined contracts there is no need to use stablecoins. Therefore, it has less collateral (margin) risk. Algorithmic-backed stablecoins have stabilization issues, while the fiat-backed ones run risks of seizures and government controls. Therefore, by exclusively depositing and redeeming BTC, a trader can bypass these risks. On the negative side, whenever the price of BTC goes down, so does one’s collateral in USD terms. This impact happens because the contracts are priced in USD. Whenever a futures position is opened the quantity is always in contract quantity, either 1 contract = 1 USD at Bitmex and Deribit, or 1 contract = 100 USDat Binance, Huobi and OKEx. This effect is known as non-linear inverse future returns and the buyer incurs more losses when BTC price collapses. The difference grows wider the further the reference price moves down from the initial position. USDT-settled contracts are riskier but easier to manageUSDT-settled futures contracts are easier to manage because the returns are linear and unaffected by strong BTC price moves. For those willing to short the futures contracts, there is no need to buy BTC at any time, but there are costs involved to keep open positions. This contract doesn’t need an active hedge to protect collateral (margin) exposure, thus it’s a better choice for retail traders. It is worth noting that carrying long-term positions on any stablecoins has an embedded risk, which increases when third party custody services are used. This is one reason why stakers can obtain over 11% APY on stablecoin deposits. Whether an investor measures returns in BTC or fiat also plays a massive part in this decision. Arbitrage desks and market makers tend to prefer USDT-settled contracts as their alternative investment is either staking or low-risk cash and carry trades. On the other hand, cryptocurrency retail investors usually hold BTC or switch into altcoins aiming for higher returns than a fixed APY. Thus, by being the preferred instrument of professional traders, USDT-settled futures are gaining more traction. author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Title: USDT-settled futures contracts are gaining popularity, here’s why
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together USDT-settled futures contracts are gaining popularity, here’s why USDT-settled futures contracts are gaining popularity, here’s why was originally published here https://allthetopnews.wordpress.com/2021/02/15/usdt-settled-futures-contracts-are-gaining-popularity-heres-why/ USDT-settled futures contracts are gaining popularity, here’s why was originally published here https://amyjimenez0.blogspot.com/2021/02/usdt-settled-futures-contracts-are.html
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Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000
Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000 Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000 Altcoins plunged steeply on Feb. 14 after the price of Bitcoin (BTC) achieved a new all-time high above $49,000. The timing of the altcoin market’s drop was noteworthy because it corrected as BTC was rallying, which typically does not happen. So why exactly did altcoins crash?There are two main reasons why the altcoin market pulled back despite the strength of the dominant cryptocurrency. First, when the price of Bitcoin rallied to a new record-high, it sucked out most of the volume in the cryptocurrency market. This naturally caused the market to sway towards BTC, contributing to the pullback of altcoins. Second, Ether (ETH), which often leads the momentum of the altcoin market, fell sharply against Bitcoin.
The combination of these two factors, combined with the uncertainty around Bitcoin at the $50,000 resistance level, has amplified the selling pressure on the altcoin market. A pseudonymous trader known as “Kaleo” emphasized that predicting Bitcoin’s rally to $50,000 was arguably straightforward. But, whether BTC breaks past $50,000 remains an important question that would decide the direction of the crypto market’s near-term price cycle. He said: “So this move up to just under $50K was incredibly easy to spot. The real question is what happens next. I’m leaning toward brief consolidation and breaking out of the range, but I’m undecided. How long will it take? Does it get rejected? Idk.” If Bitcoin consolidates first before breaking out of $50,000, theoretically, this trend would likely benefit altcoins in the foreseeable future. During a Bitcoin uptrend, altcoins tend to surge when BTC is consolidating after an initial impulse rally. However, when BTC is rallying or seeing a slight pullback, altcoins often see large price drops against both BTC and the U.S. dollar. Bitcoin is bullish for now, which is helpful for altsFor now, Bitcoin is maintaining its bullish market structure, which would relieve some of the selling pressure on the altcoin market in the foreseeable future. Scott Melker, a cryptocurrency trader and analyst, said that Bitcoin is continuing to see consecutive bull flags.
Bull flags are a market structure in technical analysis that materialize when the asset breaks out after consolidating within a range. This typically demonstrates a staircase-like rally that is sustainable over the longer term. Melker said: “Little bull flags everywhere. Finally closed above $48,200 after 7 rejections. Consolidation below resistance usually leads to a break up.” As long as Bitcoin defends the newly established $48,200 support area and consolidates between $48,200 and $49,700, another breakout is more probable. If Bitcoin sees another breakout, this time, the altcoin market is likely to rally in tandem with Bitcoin after seeing an initial dip on BTC’s first impulse rally. Title: Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000 Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000 was originally published here https://allthetopnews.wordpress.com/2021/02/15/heres-why-altcoins-are-dropping-as-bitcoin-price-inches-closer-to-50000/ Here’s why altcoins are dropping as Bitcoin price inches closer to $50,000 was originally published here https://amyjimenez0.blogspot.com/2021/02/heres-why-altcoins-are-dropping-as.html
3 reasons why Theta price hit a new all-time high at $3.49
3 reasons why Theta price hit a new all-time high at $3.49 3 reasons why Theta price hit a new all-time high at $3.49 The sustained bullish performance from Bitcoin (BTC) and Ether (ETH) has increased the confidence of crypto investors and many are now looking deeper into projects that have strong fundamentals and offer real-world use cases. This week investors turned their attention to Theta (THETA), a decentralized network that allows users to share bandwidth and computing resources in order to stream video. In the last two months THETA price has increased by more than 350%, rallying from $0.66 on Dec.10 to a new all-time high of $3.44 on Feb.13.
Three reasons for Theta’s recent price growth include the project’s plan to engage with DeFi through its Theta DEX, the addition of smart contract capabilities and NFTs to its blockchain and a growing list of high-level partnerships that will help bring quality content to its video streaming network. Community engagement via non-fungible tokensFollowing the success of CryptoKitties during the 2017-2018 bull market, non-fungible tokens (NFT) have become a recurring hot topic in the cryptocurrency sector. Theta’s addition of smart contract functionality is an attempt to capitalize on this trend. The Theta Token Minter allows users to create new TNT-20 tokens without needing any smart contract experience. This simplifies the process of minting new assets on Theta blockchain, including custom streamer assets and new DApps with their own tokens. The token minter platform also makes it easy for users to trade and transact in their newly minted tokens. ThetaSwap DEX bring DeFi-sized yieldsDecentralized finance has rapidly become a cornerstone of the cryptocurrency ecosystem prompting projects that are serious about their long-term viability to create their own DeFi applications. Theta joined the party by launching it’s ThetaSwap v1 decentralized exchange onFeb.4. ThetaSwap allows users to swap Theta-based TNT-20 tokens and Theta Fuel (TFUEL) in a manner similar to the user experience on Uniswap and SushiSwap. The DEX allows NFT holders the opportunity to trade their collectibles in a simple and secure manner through the integration of the Theta Chrome wallet extension available on both the Chrome and Brave browsers. Future upgrades to ThetaSwap will add support for wrapped tokens, including a wrapped form of Theta similar to wETH or wBTC, along with the possible addition of several stablecoins whose issuers have already expressed interest in minting TNT20 forms of their assets. Big-name partnerships push THETA price higherThe third reason for THETA’s improving fundamentals comes from the increase in big-name partnerships. On Feb.9 the team announced that entertainment powerhouse Lionsgate, home to popular movie titles like John Wick and The Hunger Games, would be joining the Theta ecosystem. The partnership will kick off with movie night screenings beginning in March.
Data from Cointelegraph Markets Pro shows that Theta’s price was decreasing on Feb.6 following a bullish breakout which appears to be the result of ThetaSwap’s release on Feb.5. The VORTECS score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity. On Feb.9 news of the Lionsgate partnership broke and by Feb.10 the VORTECS score increased to 80, a move which was followed by THETA’s current rally to its all-time high at $3.49. Other noteworthy Theta partners include NASA, which hosts a channel that live streams rocket launches and most recently a live feed from a Mars rover. World Series of Poker has also joined with Theta and its channel offers non-stop coverage of the world poker tour. rising tide lifts all boats Theta’s entrance into DeFi, the steady addition of big-name streaming partners and the strength of the current crypto bull market all point to a growing ecosystem that is only beginning to display its true potential. With Delaware’s Department of State showing a recent filing for a Grayscale Theta Trust LLC, the altcoins price appreciation may just be getting started as Bitcoin and altcoins are increasingly catching the eye of the mainstream investor. com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Title: 3 reasons why Theta price hit a new all-time high at $3.49
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together 3 reasons why Theta price hit a new all-time high at $3.49 3 reasons why Theta price hit a new all-time high at $3.49 was originally published here https://allthetopnews.wordpress.com/2021/02/14/3-reasons-why-theta-price-hit-a-new-all-time-high-at-3-49/ 3 reasons why Theta price hit a new all-time high at $3.49 was originally published here https://amyjimenez0.blogspot.com/2021/02/3-reasons-why-theta-price-hit-new-all.html
Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply
Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply Institutional investors are rapidly gobbling up Bitcoin, and at the time of writing, nearly 3% of the Bitcoin (BTC) in circulation are locked up in long-term holdings by these investors. Data shows that 24 entities have amassed more than 460,500 BTC, which is equivalent to $22 billion at Bitcoin’s current price. According to Michael Novogratz, this figure excludes the 3 million BTC forever lost, who estimates that a supply shortage could occur shortly if institutions keep up their current buying spree. The current list of holders includes MtGox K K, which has close to 141,690 BTC ($6.6 billion). Next is Block.one with an estimated 140,000 BTC $6.5 billion). MicroStrategy also has about 71,000 BTC ( $3.3 billion) and this week Tesla bought 38,500 BTC (about $1.8 billion). Analysts now expect that holding Bitcoin in treasury will soon become a corporate standard as there are multiple technical reasons for viewing Bitcoin as an inflation hedge. First, BTC has a finite supply in circulation, mimicking gold’s store of value use. Furthermore, there is no way to accelerate Bitcoin’s new supply through additional mining. Large holders further reduce the circulating supply by buying significant quantities from the market and placing them in cold storage. This long-term holding culture among most crypto participants reduces the already small supply, creating a vicious circle. For savvy chief financial officers, having a portion of Bitcoin’s treasury provides some regulatory hedge and arbitrage as governments cannot freeze funds. What is surprising about Tesla’s decision to buy Bitcoin is the timing, as the decision happened after the BTC price hiked 250% in four months.
This week’s move caused BTC’s market capitalization to surpass Tesla’s, reaching the ninth position among all tradable assets. In the past, buying Bitcoin may have been viewed as an incredibly bold move, but now it’s becoming common sense for institutional investors. With about a rough estimate of $10 trillion of corporate treasury worldwide, even a 3% allocation into BTC represents $300 billion, which is about a third of Bitcoin’s aggregate value in liquid cash. Considering that over 60% of the Bitcoin supply hasn’t moved in more than a year, a $300 billion inflow is nearly unimaginable for an asset with a $355 billion free float. Moreover, newly minted BTC by miners adds up to 341,640 annually, a mere $16.3 billion. Therefore it is safe to conclude that the steady allocation of BTC to corporate treasuries could more than double the current price of Bitcoin. author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision. Title: Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply was originally published here https://allthetopnews.wordpress.com/2021/02/14/bitcoin-goes-mainstream-as-institutions-hold-3-of-btcs-circulating-supply/ Bitcoin goes mainstream as institutions hold 3% of BTC’s circulating supply was originally published here https://amyjimenez0.blogspot.com/2021/02/bitcoin-goes-mainstream-as-institutions.html
ATOM rallies 100% in a week: What’s behind the rerating of Cosmos?
ATOM rallies 100% in a week: What’s behind the rerating of Cosmos? ATOM rallies 100% in a week: What’s behind the rerating of Cosmos? ATOM, the native cryptocurrency of the Cosmos blockchain protocol, has rallied by over 100% in the past week. Analysts are attributing the rally of ATOM to two major fundamental factors. First, in recent weeks, layer one blockchain protocols, like Avalanche (AVAX) and Polkadot (DOT) have gone through a major rerating. Second, the utility of ATOM that enables holders of the cryptocurrency to earn through swap, gas, and transaction fees could make it more compelling for investors.
The rerating of layer-one blockchainsThe term rerating is used in the cryptocurrency market to describe when the value of a cryptocurrency rises rapidly after stagnating for a prolonged period. Typically, rerating occurs when the market finds that a cryptocurrency is undervalued due to fundamental reasons or a certain catalyst buoys the potential of the blockchain protocol. Cosmos is primed for a rerating because other layer-one blockchain protocols, like Polkadot, have seen massive rallies throughout January and February. Currently, as of Feb. 13, the valuation of Cosmos hovers at around $5 billion. In comparison, Polkadot’s valuation is at around $27 billion, more than five times higher. More importantly, compared to other layer one blockchain protocols, Cosmos has major decentralized platforms and blockchain projects launched on top of it. Projects on top of Cosmos valued higher than ATOMMost notably, Terra and Binance Smart Chain are both based on the Cosmos blockchain. The valuation of the two blockchain projects alone are above $22 billion. Technically, BNB is the native token of both Binance Smart Chain and the Binance ecosystem, but nonetheless, the valuation of the two projects alone surpass that of Cosmos. A pseudonymous DeFi investor known as “SpiderCrypto” said ATOM is undervalued compared to other blockchains. The investor said: “Also @cosmos $ATOM is undervalued relative to other blockchains. So many great projects using tendermint / cosmos and you don’t even know anon. $10b marketcap and will explode like $avax.” A pseudonymous Cosmos validator Immasssi also emphasized that the tokenomics of ATOM, which allows users to benefit from the fees generated from the Cosmos ecosystem, makes ATOM more attractive. Similar to DeFi projects that have cash flow and a token that lets users earn through staking, the validator said ATOM holders will earn transaction fees from packets routed through the Cosmos hub. He said: “$ATOM holders will earn tx fees for packets that are routed through the hub. This includes all #data. Additionally atom holders will earn swap fees, gas fees & tx fees from the upcoming AMM. Furthermore earning from shared security. Once you realize what that means for ATOM.” Additionally, the long-term sentiment score for ATOM has risen significantly this year alongside Terra LUNA’s, suggesting that the rerating of Cosmos may continue, particularly if the DeFi sector continues to grow. Title: ATOM rallies 100% in a week: What’s behind the rerating of Cosmos?
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together ATOM rallies 100% in a week: What’s behind the rerating of Cosmos? ATOM rallies 100% in a week: What’s behind the rerating of Cosmos? was originally published here https://allthetopnews.wordpress.com/2021/02/14/atom-rallies-100-in-a-week-whats-behind-the-rerating-of-cosmos/ ATOM rallies 100% in a week: What’s behind the rerating of Cosmos? was originally published here https://amyjimenez0.blogspot.com/2021/02/atom-rallies-100-in-week-whats-behind.html
Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline
Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline On Feb. 12 Bitcoin (BTC) price hit a new all-time high at $48,985 before pulling back to the $46,000 level. A quick glance at the 4-hour chart shows the top-ranked cryptocurrency trading in what appears to be a brief phase of consolidation but BTC is still maintaining its bullish momentum through a pattern of higher highs and higher lows. If BTC can maintain its current pace and structure, a move to the $50,000 level could possibly occur before the weekend ends.
A report released by analysts at Decentrader shows that as Bitcoin’s liquid supply has been decreasing, demand for the top cryptocurrency has been increasing as the number of BTC that have not moved on-chain for an extended period of time also rises.
As can be seen on the chart above, BTC currently has a liquid supply of roughly four million coins and the figure has been steadily decreasing since June 2020 as whales and institutional investors increase their exposure to this nascent asset class. Further evidence of the growth of big-money players can be found by looking at the surge in wallets holding more than 1000 BTC.
As the number of large wallets grows, the number of smaller wallets has remained flat or decreased, indicating that “larger players are scooping up bitcoin off smaller players.” PayPal delves deeper into cryptocurrencyAdditional bullish news for the cryptocurrency sector came as PayPal announced that it plans to extend its crypto services to residents of the United Kingdom. This marks the first time users outside of the U.S. will be able to purchase crypto through the platform which should be available on the PayPal and Venmo apps by the end of Q2 2021. In an effort to keep up with the likes of PayPal and the Cash App, Apple Pay has unveiled a new partnership with BitPay that will allow Apple Wallet users to use their BitPay card to make purchases. It has also emerged that Grayscale Investments may soon bring a new level of exposure to decentralized finance as a newly filed corporate registration in the State of Delaware shows that the asset manager is considering Yearn Finance as a potential future offering. Choppy trading sets the tone in traditional marketsTraditional markets faced early pressure on Friday following the Feb.11 announcement that federal regulators have launched probes into Robinhood and Reddit for signs of market manipulation related to the recent wild moves seen in stocks like GameStop and AMC. After weathering the early downturn, all three major indices managed to climb higher and finish the day in the positive with the S&P 500 and NASDAQ closing out the session at record levels, up 0.47% and 0.50% respectively. The Dow also managed to squeeze out a positive gain of 0.09%. The wider cryptocurrency market continued its bullish upsurge as multiple projects saw double-digit gains and new all-time highs.
Ether (ETH) ventured deeper into uncharted territory on Friday by setting and set a new all-time high at $1,863, while Polkadot (DOT) was the best performing top-10 coin, experiencing an increase of 21% overnight for a new high at 29.52. Other notable performers include the pure proof-of-stake protocol Algorand (ALGO), which increased 38% for a 2021 high at $1.84, and Tezos (XTZ), which saw its price increase 23% for a new record high of $5.41. The overall cryptocurrency market cap now stands at $1.48 trillion and Bitcoin’s dominance rate is 60.4%. Title: Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline was originally published here https://allthetopnews.wordpress.com/2021/02/13/bitcoin-bulls-eye-50k-as-data-show-btcs-liquid-supply-in-steady-decline/ Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline was originally published here https://amyjimenez0.blogspot.com/2021/02/bitcoin-bulls-eye-50k-as-data-show-btcs.html
PayPal CFO Says The Company Might Not Convert Cash Into Crypto
PayPal CFO Says The Company Might Not Convert Cash Into Crypto PayPal CFO Says The Company Might Not Convert Cash Into Crypto PayPal will probably avert from investing its cash into Bitcoin. Despite the recently expanding interest from institutions in digital assets, the US payment giant will not get into the crypto whirlpool, said the firm’s Chief Financial Officer. dmitting Cryptocurrency’s Values but Still Won’t Invest Although it sees enormous opportunity in the development of digital wallets, PayPal will most likely not allocate portions of its cash into Bitcoin or other cryptocurrencies. According to a recent news report, PayPal’s CFO John Rainey said that the company does not have any interest in buying cryptocurrency. Instead, the firm prefers to invest in services that improve the network it offers. The company has admitted its belief in the transition to digital forms of currencies and considers it inevitable. In December, PayPal CEO Dan Schulman addressed digital wallets as “a natural complement to digital currencies” and affirmed that the company maintains and serves 360 million digital wallets. “We’re not going to invest corporate cash, probably, in sort of financial assets like that,” said John Rainey during the interview, adding, “but we want to capitalize on this growth opportunity that’s in front of us.” Furthermore, Rainey noted that PayPal had mapped some plans to invest its funds in companies that provide “complementary assets to the platform” and bring growth. The firm would also introduce its “buy, sell, and hold” crypto services to the United Kingdom. “The types of services that we’re providing, like buy now, pay later [and] crypto as an example — even offline QR code — those are the types of things that we want to continue to invest in, be it organically or even inorganically when we see opportunities in the ecosystem,” explained the CEO.
cknowledging Bitcoin and Cryptocurrencies in General In times when institutional investors and big names like Tesla and MicroStrategy are making their initial steps investing in Bitcoin and crypto, PayPal apparently won’t follow the current flow. However, the company still shows quite the trust in the digital assets. As CryptoPotato reported, the firm marked massive gains in its 4th quarter of its fiscal 2020, after including cryptocurrency trading in their list of services. The giant leap came shortly after the company received a conditional license from the New York State Department of Financial Services (NYDFS) US, allowing users of its Venmo service to trade cryptocurrencies. The payment processing company reported the following surge as its strongest financial year, with high payment volume and new onboarded accounts to further strengthen its scale. Furthermore, the firm announced its active users’ number jumped to 16 million in Q4 2020 alone. As a whole, in 2020, the company has added 72.7 million net new active accounts, reaching its active account base to a total of 377 million. Featured Image Courtesy of CNBC Title: PayPal CFO Says The Company Might Not Convert Cash Into Crypto
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together PayPal CFO Says The Company Might Not Convert Cash Into Crypto PayPal CFO Says The Company Might Not Convert Cash Into Crypto was originally published here https://allthetopnews.wordpress.com/2021/02/13/paypal-cfo-says-the-company-might-not-convert-cash-into-crypto/ PayPal CFO Says The Company Might Not Convert Cash Into Crypto was originally published here https://amyjimenez0.blogspot.com/2021/02/paypal-cfo-says-company-might-not.html
Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano
Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano SingularityNET, an artificial intelligence (AI) solution built on Ethereum, has begun the second phase of its migration to Cardano. The company’s AGI cryptocurrency will be the first major token release on the Cardano Native Assets platform and the largest democratic exercise in the history of decentralized AI. major decentralized AI network is coming to Cardano SingularityNET, a decentralized artificial intelligence (AI) solution created by Dr. Ben Goertzel, has entered into the second phase of its migration to Cardano. The network’s departure from Ethereum was announced back in early October 2020, citing the academic rigor and formal methods behind Cardano as the main reason for migrating to the platform. At the time, the company said that the core technology developed by IOHK was “closely in line” with the deep scientific background of the SingularityNET’s team. Dr. Ben Goertzel, the founder and CEO of SingularityNET, said that the decision on whether or not to migrate to Cardano was left to the community. The voting process took place earlier this month and lasted for four days. With 187 million votes in favor of the proposal to migrate and only 20 million votes against it, SingularityNET will now officially be a Cardano-based platform. SingularityNET’s AGI becomes the first major token to launch on CardanoAs part of the migration, SingularityNET’s native AGI tokens will be issued on Cardano. According to an official announcement from the company, 1 billion tokens will be issued in total, with the first issuance consisting of 15 million AGI. The rest of the tokens, called AGI-ADA will be issued gradually each month, with the issuance reate decreasing 1.5 percent each month. In a recent YouTube video, Dr. Goertzel said that the total issuance will take 91 years to complete. He explained that the slow issuance process will enable the company to allocate more resources to develop the platform. The old AGI ERC-20 token will remain on Ethereum, with users being able to swap back and forth between AGI ERC-20 and AGI-ADA. After SingularityNET migrates to Cardano, the next step in the platform’s development will be to strengthen its governance model through the tools provided on the Cardano blockchain. IOHK, the company behind Cardano, said that having AGI on the blockchain will be the first major token release on the Cardano Native Assets platform. It will also be the “largest democratic exercise in the history of decentralized AI,” the company added. “The AGI SingularityNET Phase Two proposal represents a major new step for Dr. Ben Goertzel’s decentralized AI project and an intensification of the Cardano partnership,” IOHK said on Twitter. The post Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano appeared first on CryptoSlate. Title: Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano was originally published here https://allthetopnews.wordpress.com/2021/02/13/ben-goertzels-singularitynet-begins-second-phase-of-migration-from-ethereum-to-cardano/ Ben Goertzel’s SingularityNET begins second phase of migration from Ethereum to Cardano was originally published here https://amyjimenez0.blogspot.com/2021/02/ben-goertzels-singularitynet-begins.html
Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend
Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend Shortly after Tesla announced that it will allow customers to buy products withBitcoin (BTC), a curious job posting from Amazon suggests that the company could also be working on a platform that will allow customers in Mexico to use digital currencies for making payments. If Amazon jumps on the crypto bandwagon, it will immensely strengthen the possibility of cryptocurrencies going mainstream across the world.
Today Bitcoin price is showing a new spark of optimism after the Bank of New York Mellon announced that it would hold, transfer and issue Bitcoin on part of its clients. The bank is also said to be developing a platform that will process and custody digital currencies alongside traditional assets like treasuries and stocks. Bitcoin’s future of becoming a widely accepted medium of exchange and investment vehicle appears to be becoming etched in stone. Meanwhile, several altcoins have been rising, buoyed by strong use cases and protocol upgrades. Let’s analyze a few of the top performing tokens of this week. QTUM/USDAirdrops are an easy way to make some extra money, hence they remain extremely popular with investors. Qtum (QTUM) holders will receive an airdrop of Qi, the native cryptocurrency of the decentralized exchange QiSwap which is built on the Qtum blockchain. With crypto volumes rising and the demand for DEX’s picking up, the proposed airdrop scheduled from Feb. 14 may have attracted fresh buying from several investors. The protocol has identified decentralized finance as a focus area and is taking steps to attract new DeFi projects. Qtum is planning a hard fork that will reduce its block spacing from 128 to 32 seconds in order to support the faster transaction speeds needed in DeFi. Qtum is also developing Neutron, an agnostic interface that allows virtual machines to run on Qtum and other blockchains. The aim is to build a low-cost entry platform that is also easy to use. With an eye on DeFi, the Qtum protocol seems to be taking the necessary steps to attract projects and investors alike. QTUM surged from an intraday low at $3.18 on Feb. 1 to an intraday high at $8.82 today, a 177% rally within two weeks. The breakout of $5.90 has completed a long-term bottoming formation, indicating the start of a new uptrend. A long base readies a strong launchpad for the start of the next trending move. The longer the base, the stronger is the breakout from it.
However, after the breakout from a long basing formation, the price retests the breakout level. The long wick on today’s candlestick suggests profit-booking at higher levels and the deeply overbought level on the relative strength index (RSI) also points to a possible correction. The price may now dip back to $5.90. If the bulls can flip this previous resistance to support and the price rebounds off it sharply, it will increase the prospects of the resumption of the uptrend. The first target on the upside is $10.30 and then $14.7. Contrary to this assumption, if the price drops and sustains below $5.90, it will suggest the current rally was a bull trap. The QTUM/USD pair could then dip to the 20-day moving average ($4.46). SNT/USDThe recently proposed changes in the WhatsApp privacy policy triggered outrage among users and resulted in millions of users switching to other messaging platforms. While a few users shifted to other centralized apps, others who wanted to keep their privacy in their hands opted for Status App. This app has witnessed a sharp increase in the number of downloads on Android, which crossed above 600,000 recently. The latest update in Status allows users to bookmark their favorite DApps, enabling one-tap access to some of the popular DeFi projects. Along with its features on mobile, Status Network (SNT) also rolled out Beta versions of its Desktop app that allow users to stay connected even from their laptops. The Nimbus team also rolled out a new release that aims to increase sync speed by 50% while reducing CPU utilization by half and providing protection against accidental slashings. Nimbus will eventually be integrated into the Status-desktop and Status mobile app in order to improve the user experience. SNT rose from $0.0465 on Feb. 1 to an intraday high at $0.1260 today, a 170% rally within two weeks. However, the long wick on the day’s candlestick suggests traders are booking profits at higher levels.
The SNT/USD pair may now drop to the 38.2% Fibonacci retracement level at $0.0935 and then to the 50% retracement level at $0.0835. If the price rebounds off either level, it will suggest that traders are buying on dips. They will then try to resume the uptrend. If the bulls can propel the price above $0.1260, the uptrend could reach $0.1786 and then $0.20. This bullish view will invalidate if the bears pull the price below $0.0835. Such a move will suggest that supply exceeds demand and that may result in a drop to the 20-day EMA ($0.066). A deep fall is likely to be followed by a range-bound action before the next trending move starts. MIOTA/USDIota recently launched its oracles to bring off-chain data to smart contracts on its network. An oracle is only as valuable as the quality of data it streams and in order to reduce the possibility of data manipulation, Iota will use First Party Oracles, which only reflect the data submitted by the data issuer. This will reduce the possibility of data tampering. Modern technology relies on various data sources for taking automated decisions, hence the data should be trustworthy. To ensure this, Iota and Dell Technologies partnered on a demo project called Alvarium. The platform ensures that the data’s journey from initiation to its final destination is given a trust rating to increase the confidence in the data in a measurable way. This can have real-world use cases in industries that need a high degree of compliance and security. Expanding its offering, Iota partnered with the South Korean Observer foundation and Tanglehub to apply for smart city projects in Asia and Europe in 2021. Along with these new offerings, the protocol is also getting ready to launch the second part of its Chrysalis upgrade, which according to Iota is the most extensive in its history. With the launch of the new update, the community can build scalable Automated Market Makers, fee-free decentralized finance platforms, and smart contracts to leverage the protocol. Chrysalis will also introduce steps needed for the removal of the coordinator and bring in a greater amount of decentralization. Iota had been stuck in a bottoming formation for over two years. It rallied from $0.4367 on Feb. 5 to $1.29 today, a 197% gain within seven days. The altcoin picked up momentum after it broke above the resistance at $0.55.
The sharp rally has pushed the RSI above 91, which suggests the rally is overextended in the short term and may witness a minor correction or consolidation. If the MIOTA/USD pair turns up from the 38.2% Fibonacci retracement level at $0.94, it will suggest strength. The bulls will then try to resume the uptrend. If the buyers push the price above $1.29, the pair could extend its rally to $2.00 and then to $2.60. As the price has spent a long time in a basing pattern, the rally is likely to surprise to the upside. Contrary to this assumption, if the price turns down from the current level and breaks below the 50% Fibonacci retracement level at $0.83, the pair may drop to the 61.8% retracement at $0.72. Such a deep fall will suggest the momentum has weakened. Title: Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend was originally published here https://allthetopnews.wordpress.com/2021/02/12/qtum-status-snt-and-iota-miota-rally-after-breaking-multi-year-downtrend/ Qtum, Status (SNT) and Iota (MIOTA) rally after breaking multi-year downtrend was originally published here https://amyjimenez0.blogspot.com/2021/02/qtum-status-snt-and-iota-miota-rally.html
Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up
Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up Ethereum has been facing extreme network congestion once again, which has been made worse by the cryptocurrency’s rapidly increasing price. At one point over the past week, it cost over $100 to trade on Uniswap, which caused even larger players—some that you could call “whales”—to lament about the extremely high transaction fees. This has caused a strong narrative shift to “alternatives” to Ethereum that can also support DeFi applications. Of course, there may be trade-offs regarding centralization and the usability of these other networks, though many seem to be willing to leave Ethereum, for now, to trade on other networks. Ethereum “alternatives” gain traction amid congestionEthereum alternatives are gaining traction amid this market congestion. Coins such as Avalanche’s AVAX, Binance Coin’s BNB, and others, which all act as payment mechanisms for transactions on other DeFi-focused blockchains, have begun to surge by literally dozens of percent over the past 72 hours as Ethereum has become congested once again. According to CryptoSlate market data, AVAX is up 250 percent in the past seven days while Binance Coin has gained over 140 percent. Also, the native coins of networks like Cardano, Qtum, Icon, and more have surged by over 80 percent as life is breathed back into these alternative blockchains that were dubbed Ethereum killers back in 2017. Incoming solutionsMany argue that there are solutions that can allow Ethereum to maintain its dominance but to process more transactions and at a lower cost. The first discussion has been to increase the block size of Ethereum blocks. Nikita Zhavoronkov from BlockChair recently suggested that the Ethereum gas limit, which determines the block size, should be increased to 15 to 20 million from 12.5 million. That would mark an increase of 20 to 60 percent, which is quite a large range. This would allow for a large increase in transactions. The exact numbers are unclear, as it depends on how much gas a transaction takes up. Zhavoronkov says that this is feasible because the “uncle rate,” which is sometimes used to determine the health of mining, is low. He believes that adding this capacity won’t threaten the security of the network. It’s time to raise the #Ethereum? gas limit from 12.5M to at least 15-20M. It’s safe to do this because the uncle rate is at its minimum. It’s not safe to fail to scale or introduce unpredictable fees, as seen with #Bitcoin, this pushes users to other blockchains. pic.twitter.com/rrsjGAgdLH — Nikita Zhavoronkov (@nikzh) February 4, 2021 Many have actually pushed back against Zhavoronkov’s comments because they say that he isn’t properly assessing the potential risk of what adding more block size would do to the network. Namely, there have been discussions around how an increase to the gas limit will result in a large increase in the “state size” of the Ethereum network, potentially causing increased latency or stress put on nodes, and as a result, more centralization. Positively, though, there has been good progress made on the front of layer-two scaling solutions such as Optimistic Ethereum, which projects like Synthetix, Uniswap, and Rari Capital are dabbling with right now. Disclaimer: This author is an analyst at ParaFi Capital. ParaFi Capital may hold positions in assets mentioned in this article. The views displayed in this article are opinions of the author—and the author only. The post Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up appeared first on CryptoSlate. Title: Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up
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Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up was originally published here https://allthetopnews.wordpress.com/2021/02/11/other-defi-focused-networks-are-surging-as-ethereum-congestion-narrative-spurs-up/ Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up was originally published here https://amyjimenez0.blogspot.com/2021/02/other-defi-focused-networks-are-surging.html |
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My name is Amy Jimenez, and I am the main writer behind the” allthetopnews.com” for the ground-breaking and most fragile bits of knowledge into the most recent news in the services sector. I began my voyage of work as an autonomous investment advisor. I had around 4 years of involvement in this field. I am a free soul so; my energy for investigating the world has taken me to the countries over the globe and allowed me to report for a part of the best news affiliations. At present, I am a full-time manager as experienced in the account and began to utilize my capacities. Archives
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