Bitcoin Cash price prediction: BCH rejected at $1,600, what’s next?

TL;DR Breakdown

  • Bitcoin Cash price is expected to rise to $1450.
  • The closest support level lies at $1350.
  • BCH faces resistance at the $1400 mark.

Bitcoin cash price has finally broken above the $1000 mark and strong bullish momentum has carried the price to challenge the $1324 mark. Bitcoin Cash price records an over 60 percent price hike across the last seven days showing strong bullish dominance. However, the sharp bullish activity leaves room for a volatile price movement.

The broader cryptocurrency market enjoys a bullish sentiment across the last seven days with most major cryptocurrencies recording profits across the timeframe. Major player includes Ripple’s XRP, and ADA that record a 17.36 and a 7.36 percent increase respectively. Meanwhile Bitcoin and Ethereum record a 6.57 and a 24.93 percent hike.

Technical indicators for BCH/USDT

Bitcoin Cash price prediction: BCH rejected at $1,600, what's next? 1
Technical indicators for BCH/USDT by Tradingview

Across the technical indicators, the MACD shows a declining bullish momentum. While the histogram is still green at the time of writing, the histogram’s size has decreased significantly as the Bitcoin Cash price struggled to climb above the 103 mark. Across the EMAs, the 12-EMA still trades above the 26-EMA, the difference between the two is significant and the chances of them showing a reversal are low.

The RSI broke out of the neutral region on May 5th but has since dropped back into the neutral zone. The indicator currently trades just below the 68.00mark and is moving upwards again suggesting a bullish presence at the current price level. Meanwhile, the RSI trades with a steep slope suggesting the buyers appear to be fighting back.

The Bollinger bands are currently wide but are converging rapidly as the bears take charge of the market momentum. The bands’ convergence suggests a drop in volatility for the BCH price in the short term. However, as the price is consolidating above the bands’ mean line, the bands will be leaning upwards for the next few candlesticks.

Overall the 4-hour technical analysis issues a buy signal with 14  of the total 26 major technical indicators suggesting their support for a bullish movement. On the other hand, only two indicators issue sell signals suggesting a bearish retracement. Meanwhile, ten indicators sit on the fence issuing no support for either side of the market.

The 24-hour technical analysis shares this sentiment and also issues a buy signal with 15  of the 26 indicators suggesting a bullish movement against only three indicators suggest a bearish retracement. Meanwhile, eight  indicators remain neutral and do not issue any signals at the time of writing

What to expect from Bitcoin Cash price?

Bitcoin Cash price prediction: BCH rejected at $1,600, what's next? 2
4-hour price chart by Tradingview

Traders should expect the Bitcoin Cash price to recover to the $1,450 mark as the price action shows strong buyer pressure. The technical indicators are bullish and the mid-term technical analyses also support this notion, suggesting a breakthrough above the $1450 mark. However, the price action still faces bearish pressure and struggles to climb above the $1400 mark.  As such, traders can expect brief consolidation at the current price level before upwards movement.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Ripple Labs reports double the XRP sales in Q1, 2021.

Blockchain firm Ripple Labs has reported that for the first three months of 2021, its total sales of XRP were $150.34 million, 97% higher than the $76.27 million reported for Q4, 2020. The report revealed that the increase in sales figures was led by the growing demand for RippleNet’s On-Demand Liquidity or ODL service. Earlier, […]

New Class of Altcoins Are Ready for Lift-Off, According to Crypto Trader Tyler Swope

Crypto analyst and influencer Tyler Swope says he believes a new hot subsector is on the verge of taking over the crypto markets.

Swope tells his 236,000 YouTube subscribers that the next group of altcoins set to rally after the decentralized finance (DeFi) and non-fungible token (NFT) waves took over this winter and spring, are decentralized autonomous organization (DAO) projects.

“First DeFi coins had the hype. Then it was NFT cryptos. DAO altcoins are the next hype and are going to surge.”

DAOs operate in such a way that protocol upgrades are voted upon and decided by token holders.

The cryptocurrency influencer points out that the total value locked (TVL) in DAOs was a little more than $55 million about nine months ago, and has now swelled by about 1,800%.

“As of last August, DAOs TVL was just over $55 million. Through the nine months to today, DAO TVL has been growing and is now settling at just under $1 Billion.”

Swope reasons that given the precedent set by DeFi, DAO altcoins will surge as the two subsectors move in tandem.

“…DeFi and DAOs go hand in hand. Thus in my opinion, TVL in DAOs is going to have its breakout this year. Because almost every DeFi protocol is moving towards the DAO model…”

The YouTuber says one of his favorite DAO-based project is the domain-specific rollup Habitat (HBT). A rollup reduces fees and congestion on the Ethereum blockchain by aggregating transactions off-chain.

Per Swope, the main advantage of Habitat over other rollups is that it cuts fees by over 90% and improves transaction speeds substantially.

“Habitat is creating a rollup that is domain and application specific… What does that mean!? Well, each domain is sovereign, DAO or application specific. They host their own nodes for transactions, votes, governance and the like, which means these are easily scalable, low gas fees (96% cheaper) with almost instant speed.”

Swope also mentions the DAO creation and maintenance platform Aragon (ANT), describing it as ‘one of the most popular’ projects in the subsector.

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The post New Class of Altcoins Are Ready for Lift-Off, According to Crypto Trader Tyler Swope appeared first on The Daily Hodl.

Coinbase Announces San Francisco HQ Shutdown by 2022

coinbase

Coinbase, the most prolific U.S.-based cryptocurrency exchange, has announced it will close the doors of its former San Francisco HQ by 2022, in its push to go 100% remote. Earlier the company had announced its intention of ditching the traditional office-based model to decentralize its operations and instead impulse work from home politics as part of its response to Covid-19.

Coinbase to Shutdown Former San Francisco HQ Office by 2022

Coinbase has announced today it would shut down its former San Francisco HQ office via its official Coinbase News Twitter account. The company is transitioning from a traditional work model to a remote-first company since the Covid-19 epidemic last year. This move is yet another action that the exchange is taking to show its compromise with decentralization, stating that no location is more important than the others. Coinbase stated:

Closing our SF office is an important step in ensuring no office becomes an unofficial HQ and will mean career outcomes are based on capability and output rather than location.

However, the company will not leave its workers stranded, offering to open a smaller subset of offices that can be leveraged by their workers around the world to be used as bases if they choose to do so.

This seems to mimic what Binance, the biggest cryptocurrency exchange, has also been doing since time ago, with its CEO Changpeng Zhao declaring they had no headquarter because bitcoin didn’t.

Coinbase Remote First Work Policy Explained

While this decision can be seen as revolutionary by some for a company that just had a direct listing on NASDAQ with a valuation of $100 billion at its launch, it is just a continuation of a policy it had defined last year as a consequence of the Covid-19 epidemic.

Brian Armstrong, CEO of the exchange, declared this new approach had interesting advantages, including the possibility of hiring employees in cities and countries where they didn’t have a real foothold, getting interesting talent from all over the world instead of just in San Francisco.

Armstrong and Coinbase’s top brass are leading by example, as none of them actually reside in the city or commute there to the former San Francisco HQ offices. According to him:

This is one of the most powerful things we can do to keep Coinbase from inadvertently returning to an in-office culture.

In the future, we might see other exchanges and cryptocurrency-related companies go decentralized and remote-first after the Covid-19, even when this presents a new debate about how disputes will be solved with a headquarters-less company.

What do you think of Coinbase’s decentralized location policies? Let us know in the comments section below.

Implications of Lack of Liquidity of a Crypto Exchange

Benefits of liquidity and how Aurix Is implementing a highly sophisticated and liquid digital currencies ecosystem

Orders will go through quickly on an exchange with high liquidity. Liquidity is the ease of converting an asset into liquid cash, or one digital currency to another.

This is a very significant aspect of the cryptocurrency market. And as the market has kept on growing, the scale and traffic of transactions have guaranteed digital currency traders with high liquidity.

But a big problem exists among upcoming exchanges with low usage numbers, and those trying to gain traction.

It turns out these new exchanges are unlikely to command a followup because new users are likely to exit immediately when they come in due to these exchanges’ associated low liquidity level.

There are three major liquidity challenges Aurix Chain Ecosystem seeks to solve: Market, asset, and exchange liquidity.  

Majed Mohsen, with a strong background in computer science, embarked on a journey to solve the world’s toughest problems in Fintech.

A journey that gave birth to the Aurix Chain Ecosystem; a blockchain meant to deploy various Fintech solutions under one package.

Lack of liquidity affects cryptocurrency exchange and so, we look at how Aurix intends to solve the problem of liquidity and cashless transactions. 

Implications of lack of liquidity on exchanges

  1. Lack of market stability — The lower the liquidity, the higher the volatility of a market. This also means traders have to wait around the order book for their trades to be fulfilled. Sometimes, a trader has to raise/lower a digital asset’s overall price and also the bid-ask spread.
  2. Control by Whales — An exchange’s market could be controlled by a single act, conducting a large transaction where the market lacks liquidity. 
  3. Slow transactions —Transactions take more time in an illiquid market. This is a limiting factor that could lead to loss. Traders require a highly liquid exchange and market to open and exit from trading positions, quickly and frequently.
  4. Tough to conduct technical analysis — a highly liquid market is easy to analyze both technically and fundamentally. Charts for illiquid markets are slow and boring, while more liquid markets have highly precise and developed charts. 
  5. Loss during big market swings — Low liquidity is detrimental to a trader’s profits. Traders have to wait for long  periods in a less liquid market, which could make dips, devastating than in a highly liquid market. 

Liquidity solution as proposed on the Aurix chain whitepaper

The Aurix Chain Ecosystem intends to solve the problem of liquidity by admitting a large user base into its exchange. 

Unlike other exchanges which charge transaction fees and have high hidden fees/commissions, Aurix is based on the premise that Fintech solutions should be cheap, easy, and efficient.

For this reason, the exchange employs a cashback strategy, which pays back a particular percentage of a trader’s bid, depending on the trader’s membership tier. 

This ecosystem also has its native token, the Aurix Token (AUR). The token can be exchanged for other cryptocurrencies, cutting down transaction fees for committed users, providing discounts, and finally for staking among investors. 

Aurix will be the go-to system for seamless trading activities

You will find an intuitive user experience that takes into consideration both, the starting trader and pro trader. This is a platform you can use on the go because it comes with the flexibility of a web version and a mobile version.

Besides, you can use a debit/credit card ( from Visa or Mastercard) to make payments on the exchange, on the go.

Zapping Out High Trading Fees In Crypto Exchanges

The limitations of high transaction fees

The efficiency of a typical economic setting prevails once transaction fees are low or nil. Costs of transacting on the blockchain have been rising as a result of more  users that are joining the crypto wagon. Scalability issues, coupled with fees charged on digital asset exchanges, have rimmed down the amount of profits generated by cryptocurrency traders. 

Today, transaction fees remain a key determinant of a cryptocurrency trader’s net returns.

For this reason, Mahjed Mohsen set out to build a digital currency exchange, to eliminate the problem of high trading fees. His efforts gave birth to the Aurix Chain Ecosystem, which rose into existence in 2016.

Presently, the exchange is a Fintech powerhouse that deploys multiple financial solutions under one roof. Majed, who serves as the CEO of the ecosystem, believes financial solutions in this age should be simple, affordable, and efficient.

In comparison with other cryptocurrency exchanges, Aurix Chain employs a simple trading fee structure with no hidden fees. The system puts transparency and efficiency first and ensures newbies can easily navigate the crypto industry. 

Fees structures across leading exchanges and the Aurix Chain

The Aurix Whitepaper acknowledges that over 1.7 million transactions occur daily, commanding an estimated market capitalization of $10 billion. The involved parties in these transactions need a platform that offers them cheap conversion rates with no hidden fees/commissions. Aurix does that, and in this section, we’ll discuss the fee structure of Aurix and compare it with the existing exchange platforms.

Here are key facts to note about transaction fees on Coinbase: one of the leading cryptocurrency exchanges in the world.

  1. When buying Bitcoins (BTC) through Coinbase, fees are deducted automatically from the total ordering amount.
  2. Selling Bitcoins (BTC) through Coinbase will have the trading fees automatically deducted from the entered amount. 
  3. It doesn’t matter, whether you are buying or selling cryptocurrencies through Coinbase, the platform will always deduct fees. Here are the flat fees for transacting on the exchange:
  4. Trading crypto of less than $10.99, the fee is $0.99.
  5. Trading crypto of $11 – $26.49, the fee is $1.49
  6. Trading crypto of $26.50 – $51.99, the fee is $1.99.
  7. Trading crypto of $52 – $78.05, the trading fee is $2.99.

Aurix cashbacks, transaction costs, and membership tiers

Aurix aims at providing its users with the best user experience to the extent of even paying users for trading on the platform. In this section, I will dissect the various cashbacks and how they apply to every tier of users, and the reward for each tier. 

There are 7 membership tiers on Aurix exchange that define the user experience of each site user. These memberships are labeled from VIP 0 to VIP 6. Each member is awarded membership to a particular tier, depending on their volume of trades in the past 30 days. Here is a table outlining the membership tiers, their requirements, and their inherent benefits.

Zapping Out High Trading Fees In Crypto Exchanges 1

(Source: Aurix Official Whitepaper)

Bottom Line

The Aurix Chain Ecosystem will help users navigate the complicated features of on-chain payments, simply and affordably. It’s a platform anyone can use on the go, for it comes with a mobile version of a debit/credit card issued by either Visa or Mastercard.

Dogecoin Price Forecast: DOGE holds onto $0.5 key support; how soon will the uptrend to $1 resume?

Dogecoin [DOGE] Price On Leap As Largest Exchange Bid To Support DOGE on Official Wallet

Dogecoin recently achieved the wish of April’s failed “Doge day” as users and speculators pumped the price to $0.7. The primary mission was to pull DOGE above $1. However, it appears that profit-taking took precedence, adding weight to the overhead pressure.

A retreat came into the picture with Dogecoin diving under $0.6. Support seems to have been established at $0.55, and if it is strong enough, the potentially massive correction will be avoided altogether.

Dogecoin technical picture flipping bearish

The Moving Average Convergence Divergence (MACD) has also started to drop from the recent high of 0.075. As the indicator closes the mean line (0.00) gap, bearish pressure intensifies. Moreover, the MACD line (blue) has crossed beneath the signal line and is currently widening the gap. A more extensive divergence also implies that the sellers’ influence in the market is growing.

Simultaneously, the Relative Strength Index (RSI) has been ejected from the overbought area and is fast approaching the midline. The sharp drop reflects the increase in seller dominance. A continued movement toward the oversold could trigger massive losses.

DOGE/USD four-hour chart

DOGE/USD price chart
DOGE/USD price chart by Tradingview

Note that support at $0.5 must hold to avert the potential losses and perhaps mark the resumption of the uptrend. Bulls must focus on settling above $0.6 to allow the focus to shift to $0.7 and $1, respectively.

Dogecoin intraday levels

Spot rate: $0.59

Trend: Bearish

Volatility: Low

Support: $0.5, the 50 SMA and $0.4

Resistance: $0.7

The post Dogecoin Price Forecast: DOGE holds onto $0.5 key support; how soon will the uptrend to $1 resume? appeared first on Coingape.

BSCTrades: All-in-one trading platform to enhance trading performance on BSC Network

Patna, India / 4 May 2021 / All-in-one trading platform BSCTrades launches two very important tools in the form of the limit order tool and token launch snipper. BSCTrades is the all-in-one trading platform that integrates the best trading practices and tools to help the traders on its platform to make the most of the current bull run.

BSCTrades will be adding the token launch Snipper to enable users and holders of the $BSCTD to stay informed and get into new listings on pancakeswap first to enable them to profit maximally. Getting to keep track of new tokens listed on pancakeswap may be difficult due to the number of new tokens listed daily. To be able to access this feature a user would need to hold a minimum of 5 $BSCTD.

The platform has also added the limit order tool to the BSCTrades platform. To be able to use this feature, one need to hold a minimum of 5 $BSCTD. Users and traders can enjoy the platform as they utilize the limit orders on pancakeswap as it is fast, effective, and scalable. These will be active and useable on Launch.

BSCTrades: The all-in-one trading platform

This bull season Binance’s native chain called Binance Smart Chain has emerged as one of the fastest-growing blockchains with millions of customers base. In light of growing gas fee on the Ethereum network BSC chain emerged as the sole alternative for many traders and defi protocols which were barely usable at the peak of the high transaction fee. As a result, BSC became the choice of bothering the spot ERC-20 traders as well as different Defi protocols. The surging popularity of the BSC chain could be understood from the fact that at its peak its was processing nearly 4X the volume of the Ethereum network. The popularity of Defi protocols on BSC can also be understood from the fact that the TVL on BSC has grown over $45 billion over the past couple of months.

As BSC continues to make new historical highs, the BSCTrades platform has come in to offer the much-needed assistance to traders to make the most of the ongoing bull run. As has been the case with this bull season most of the Defi tokens within hours of launch on the BSC have gained millions worth of liquidity and its price has skyrocketed in a matter of days as well. Thus, it becomes very important for anyone to keep an eye on new listings on the chain, the earlier a trader is to discover a new token, the better chances they have to make the best profit.

Why Choose BSCTrades?

Amid the growing popularity of the BSC network as the go-to trading network, BSCTrades has come up with a comprehensive platform comprising of several tools and services to enhance ones trading experience as well as performance. Some of the key features that would enable traders using the platform to make the most would include

●      The addition of the token launch Snipper to enable users and holders of the $BSCTD to stay informed and get into new listings on pancakeswap first to enable them to profit maximally. To be able to access this feature users would need to hold a minimum of 5 $BSCTD.

●      The platform has also added the limit order tool to the BSCTrades platform. Users and traders can enjoy the platform as they utilize the limit orders on pancakeswap as it is fast, effective, and scalable.

One of its kind platform designed to ensure traders are given a perfect trading interface and tools to maximize profitably. On the BSC trading platform, traders can analyze trades, develop strategies and utilize trading bots for effective trading.

Some of the key features of the platform include,

●      Real-time chart.

●      Multiple device compatibility

●      Modern Comprehensive trading tools

●      Launchpad for upcoming projects on the BSC space

BSCTrades seeks to create value and provide a sustainable ecosystem for its stakeholders. Investors and community members rest assured that all projects launched are strictly evaluated by the team to avoid scam projects and projects going rug at an early stage. All projects and transactions are safe and secured as the team makes sure the investors maximize profits.

BSCTrades, a Platform cum Launchpad For New Projects 

The platform is not just limited to BSC traders in fact with a launchpad and IDO integrated into the system it also becomes quite a prominent attraction for investors in different decentralized projects as well. Investors and projects accepted profit extensively from the ecosystem’s services and benefits. BCS Trades is devoted to creating value for all stakeholders, and this commitment manifests through exclusive services and rewards.

Some of the key investor benefits of the platform include an exclusive initial private offering round for every accepted project on BSCTrades and every IDO holder must airdrop 5% of the total BNB raised to $BSCTD token which in turn guarantees that BSCTrades accepted projects undergo strict identity-proofing and auditing requirements.

Two streams of passive income exposure to potentially profitable projects with minimized risk. Projects accepted to be launched on the BSCTrades launchpad will gain access to exclusive resources to ensure IDO success. 

Media Contact :

Company Name : BSCTrades

Contact Person : Himayu

Email : Support@bsctrades.app

Phone Number : +91 9835470747

City : Patna

Country : India

Website : https://bsctrades.app/

Twitter : https://twitter.com/BSC_trades

Telegram : https://t.me/bsctrades

Medium : https://medium.com/@bsctradenow Github : https://github.com/bsctrades/web

Plethori: The World’s First Crypto ETF Creation and Trading Platform — Powered by Polkadot

It is Q2 2021, and the true era of decentralized finance has now begun. It is safe to say that the rough terrain has been chartered and that DeFi is here to stay.

With a solid foundation formed, the time has come for serious investors to enter the realm of decentralized finance. And with them comes the increase in demand for bona fide financial products and services.

Complex traditional investment structures will soon begin to enter the crypto space. With incredible foresight, PLETHORI has risen to meet these demands, and will soon be launching cryptocurrency’s premier ETF Creation and Trading Platform.

ETFs

Exchange-traded funds (ETFs) are investment funds made up of multiple assets within a particular industry. Their value is derived from the index value of the group of assets contained within it. Advantages include lower fees, diversification of one’s portfolio, and the ability to invest in the strength of a sector, rather than relying on the success of individual projects.

The current value of all ETFs worldwide is over $7.7 trillion, and as traditional financial markets begin to feel the pressure of a declining global economy, investors all over the world are turning their attention to the rapidly expanding decentralized alternative. This increase in demand has opened the market to the idea of accommodating some of the more complex instruments that have previously only existed within the traditional financial industry.

Plethori’s Platforms

V1 Platform

Plethori’s debut product, the V1 Platform, will offer investors the opportunity to buy and sell a wide range of crypto-based exchange-traded funds (ETFs).

How will it work?

The V1 Platform will provide a variety of ETFs, each made up of a select portfolio of tokens from different cryptocurrency sectors, for example — NFTs, Polkadot projects, Layer 2s, Insurance projects, Oracles, high market caps, low market caps, etc. Full details on each available ETF will be provided before the platform’s launch.

Users will be able to buy and sell Plethori’s ETFs on the exchange platform. The sole market will be ETH initially and a DOT market will be integrated later in 2021. Holding the PLE token will be the only pre-requisite to gaining access to the platform.

No user account is necessary. Simply connect your wallet containing PLE and you will gain full access to all of the platform’s features.

Platform Features

  • The Exchange : The V1 Platform is essentially a decentralized exchange where users will be able to buy and sell the wide range of ETFs available.

    After connecting one’s wallet, users will be able to: place market orders; place limit orders; view their portfolio; check out their P&L and trade history; and follow all of their favourite ETFs closely, enjoying the full range of available statistical data for each.

    Users will also be able to chart all listed pairs on the 1m, 5m, 15m, 30m, 1hr, 4hr, 12hr and 24hr time frames. The platform, available in both Day and Night modes, will have a range of charting tools and indicators and users will be able to select either bars, lines or candlesticks to suit their preference.
  • Low Fees : Rather than paying 10 transaction fees (for example) to purchase 10 different tokens, ETFs allow investors to purchase all 10 different tokens for just 1 transaction fee. With the increasingly high fees on various networks (not mentioning any names!), traders often have to allocate inordinate quantities of their available capital toward fees. Plethori’s ETF structure means that more of your money will be actively invested, rather than disappearing into network miners’ wallets.
  • Diversification : ETFs facilitate portfolio diversification with a single purchase. Rather than relying on the success of an individual project, ETFs spread the risk by indexing the value of multiple tokens across a sector or industry.

ETFs are an essential component of any strong investment portfolio. Their ability to provide instant diversification with minimal exposure to trading fees is a great way of hedging risk whilst simultaneously freeing up capital.

Bringing ETFs to crypto like never before, Plethori’s V1 Platform delivers a unique product to a market hungry for such innovation. And with its very well thought out UI and clean and professional design, investing has never been easier on the eye than it is with Plethori.

V2 Platform

Plethori’s V2 Private Funds Platform is set for launch later in Q2 2021. For the first time, investors will be able to create and manage their own decentralized exchange traded funds. Tradeable on the V2 exchange, these unique ETFs will not only provide creators with a passive income, but introduce gamification through leadership boards and rewards, with NFTs playing a key role.

How will it work?

The V2 Platform will allow users to stake collateral in exchange for the ability to create personalized ETFs with their own unique portfolio of tokens. Once created, these unique ETFs can be published and made available for purchase by other potential investors. Fund creators will earn a percentage of all transaction fees associated with the purchase and sale of their unique ETFs. The better the performance of the ETF, the higher up the leader board the fund manager ranks and the more likely other users are to purchase their ETFs.

“Gosh, I wish I did. If I had a tenth of a basis point of the ETF business, believe me I’d be out there sailing a yacht.” — Nathan Most, commenting on the fact that he never received a dime in royalties for creating ETFs.

Platform Features

The V2 Platform boasts all of the same elegant features as the V1 platform, with the addition of the ability to create and trade custom-made ETFs.

  • The Exchange : As with Plethori’s V1 Platform, the V2 will also act as a decentralized exchange. Once users connect their wallets via the Web3 app they will be able to place market orders, limit orders and set stop losses, engage in margin trading and leverage trading, view their portfolio and check their trade history.
  • ETF Creation : All platform users will have the ability to create their very own customized ETFs and release them onto the exchange. All projects that are built on Ethereum or Polkadot will be offered for inclusion in the ETFs, with Cardano and Bitcoin in the pipeline.
  • Passive Income : Whenever an ETF is bought or sold on the V2 platform, the creator of that ETF will receive a percentage of the transaction fees. The more popular your ETF, the more transactions are likely to occur.
  • Leader Boards : The highest ranked ETFs and their creators will be displayed on the V2 leader boards. NFTs will be awarded for “levelling up” as the fund managers achieve certain milestones.

NFT Integration and Gamification

Plethori’s V2 Platform will integrate ERC-721 Non-Fungible Tokens (NFTs) which will take on a very important function — the gamification of Plethori.

NFTs will play a variety of roles within the Plethori ecosystem. They will be:

  • Awarded as badges to top performing fund managers based on achievements and rankings;
  • Given as perks that provide benefits within the platform and other partner projects’ platforms; and
  • Traded within the platform as a value-holding asset.

The much awaited V2 platform will be Plethori’s defining product. The opportunity to create customized cryptocurrency ETFs is an industry first, and Plethori have found a way to make this not only accessible but actively enjoyable. With a ground-breaking platform, reward incentives and gamification, this really is a project to get excited about.

Plethori Key Features:

  1. Cross-Chain Functionality

The need to build a cross-chain project has never been more crucial. This is due to the recent surge of unaffordable fees charged by networks such as Ethereum which can make trading and investment opportunities seemingly unprofitable to small-scale investors. Despite the high network fees, Ethereum maintains its title as the home of DeFi, due primarily to its scalability and developer saturation. Eth Layer 2 Optimism provides a solution to the fee dilemma, and Plethori will be amongst the first who will be using the new technology.

Polkadot was chosen primarily because of its aim to build on top of Ethereum, as well as the fact that it boasts smart contract functionality and compatibility via the Ethereum Virtual Machine (EVM), where the bulk of traded DeFi assets are native.

One of the most striking advantages of Plethori’s cross-chain protocol is the cheap cost to users, allowing users to invest additional funds that would otherwise be used on transaction fees. Functionality is maintained at a near optimum level as service lag caused by singular network congestion using their cross-chain protocol is mitigated.

  1. Non-Fungible Tokens (NFTs)

Gamification will be another important key feature of the Plethori ecosystem. Its role within the crypto space has grown exponentially in recent times. ERC-721 integration will provide for the delivery of NFTs to reward fund managers as they “level-up” through the ranks.

  1. Layer 2 Solution

Ethereum is the undisputed home of DeFi, but due to the recent sharp rise in network fees, Plethori will be employing the ETH Layer 2 solution, Optimism.

  1. Fiat Gateway

Plethori’s fiat gateway integration will allow users to easily invest in crypto funds via the platform, facilitating fiat to token investing and creating a bridge to the world of traditional finance. This will be achieved quickly and seamlessly within the platform.

Governance

Their PLE token will also be used as a governance token, giving the community the power to directly influence the development and advancement of the project. PLE token holders will be able to submit proposals and vote on platform changes which will be vetted and executed by governance contracts.

Plethori’s community will be able to communicate with other equally dedicated members in the tiered groups on the platform and coordinate and propose changes to the ecosystem. There will be a weighting system in place to ensure that voting power is dependent upon level of involvement within the ecosystem, and not based merely on holding a large quantity of tokens.

Conclusion

Plethori CCO, Callum Mitchell-Clark, commented: “Up until now, the world of decentralized finance has been rudimentary. The more complex investment structures are now ready for adoption. We at Plethori have chosen to lead the next wave as we single-handedly bring ETFs to crypto. Utilizing the trustless immutability of the blockchain, we will develop a secure ETF Creation and Trading Platform, the likes of which have never before existed. The strategic decision to build on the Polkadot network will allow us near limitless scalability, providing us with access to tokens across multiple blockchains. Through our platform we will be providing a proven and very successful investment structure. And we will be providing it to a completely untapped market.”

To learn more about Plethori, visit Plethori.com

Twitter : https://twitter.com/plethori

Telegram : https://t.me/plethori

Medium : https://medium.com/plethori

TeraBlock’s Exchange Onboards Newcomers to the Cryptoconomy

Everyone’s crypto journey has to start somewhere. Where did yours begin, and how did you fare in those initial weeks and months? The answer is probably “falteringly,” as you took one step forward only to take two backward, realizing how much you still had to learn. Like ascending a vertiginous mountain peak, the higher you climb in crypto, the more you discover the distance you still have to go.

No sooner have you learned how to send and receive cryptocurrency than you are having to familiarize yourself with crypto exchanges, order books and all manner of bewildering phenomena, from TA to FA. It is a lot to learn, especially for casual crypto fans who just want to explore the digital landscape and hopefully make some money along the way.

To lend these intrepid souls a helping hand and guide them on their maiden journey, TeraBlock has created a gateway for newcomers who are unsure of where to start. Using some clever tech, which we will get to in a moment, it manages crypto assets on the user’s behalf, helping to grow their portfolio with no manual adjustment required.

The idea is that while your crypto education is in its nascent stages, TeraBlock will implement the best strategy for growing your wealth and granting you exposure to the leading crypto asset classes. In the process, you will expand your knowledge while gaining an appreciation of how the pieces that make up the crypto landscape fit together.

Automation for beginners

The automated component of TeraBlock’s crypto gateway entails machine learning (ML) to manage a portfolio of assets on the user’s behalf. Normally, it falls to the end-user to weigh the pros and cons of various cryptocurrencies and determine which ones to buy. TeraBlock aims to take the guesswork out of this process by enabling anyone to select from simple—yet highly effective—pre-built strategies that optimize for specific outcomes.

This is done via four crypto indexes that are based on total market cap, asset performance, project overview and statistical data. Real-time and historic trading data for each of these indexes can be viewed at a glance before allocating your assets to your preferred index in a couple of clicks. Once you have selected your desired index, the assets it contains will be purchased on your behalf, proportional to the amount you have invested.

Through owning a weighted portfolio of assets, the reasoning goes, you will gain exposure to a basket of cryptos while being spared the complexity and costs associated with purchasing and monitoring each one individually. But the automated investment strategy does not end there: the moment market conditions take a downturn, the algorithm will exit the index and wait for the opportune moment to buy back in. This system promises to save novice users from much of the volatility that is inherent in crypto, minimizing the downside risk while maximizing the upside.

Crypto does not have to be complex

TeraBlock has additional products catered to intermediary cryptocurrency holders, including drag-and-drop portfolio trading. This enables users to select an existing trading strategy or to create rules of their own that will dictate when particular assets are bought and sold in line with market conditions.

It is the crypto indexes that are likely to be TeraBlock’s primary driver of new users, enticed by the proposition of an automated strategy that takes the guesswork out of trading. No system is 100 percent foolproof, and an algorithm will not make you stupendously rich overnight—or even over the course of many nights when initiated with a modest principal investment.

However, if TeraBlock can save beginners from the sort of mistakes that every crypto rookie makes—overtrading, panic selling, FOMO, over-exposure to high-risk assets—it will have proved its worth.

Collaborative NFT Art Project dCanvas Opens Limited Allocation Of 256 NFTs To The Public

dCanvas, the largest collaborative NFT art project, is finally opening its gates to the public. The company will be allocating 256 public release NFTs in its huge community pixel board. Each NFT gives its owner full control over pixel colors at a specific location on the canvas board. Moreover, NFT holders may participate in community-based, NFT-backed art piece creations through an independent DAO, giving the community control over the project and its future.

Please Note: This is a Press Release

As the NFT industry continues to grow by leaps and bounds, the time has come to focus on community-oriented features. dCanvas, the world’s largest NFT collaborative art project, enters the next stage of its evolution.

dCanvas has already seen tremendous adoption, having distributed roughly $500,000 in NFTs to numerous strategic investors, brands, and early adopters.Participating private investors include Leia from Unic.ly, Kyle from NeptuneDAO, Joyce from Global Coin Research, and Queen Mei the number one NFT collector on Quidd. Sebastien Borget, COO and Co-Founder of The Sandbox, has also joined as a project advisor.

A limited allocation of 256 public release NFTs will be made available to users on May 6, 2021. Every NFT consists of 16 pixels which can be filled in with the owner’s artistic vision.It is the second time dCanvas opens NFTs for sale and allocation to the public. Previously, 1024 NFTs were made accessible, all of which were sold out in less than 5 days. With a much smaller sample size to go around this time, time is of the essence for those who want to get in on the action.

The NFT sale can be accessed on the dCanvas app and transactions will occur via OpenSea, in order to minimize gas fees for all users to have the optimal experience. Only a one time authorization fee for OpenSea is required. After that, everyone can purchase NFTs through the app and use their new acquisitions immediately after receiving them without further gas costs.

All NFT owners can create a public profile to show off their ownership. Additionally, owners can message one another to have meaningful discussions and collaborate. Projects like these need to fuel community-based activities and engagement.

dCanvas prioritizes three crucial pillars to shape the future of its NFT collaborative art project; community, value, and social good.

By allowing NFT holders to shape and influence their NFT and redefine the limits of collaborative art for social good, dCanvas goes in a very different direction from most NFT projects and brings unique value to the space. Moreover, dCanvas plans to donate a significant portion of all proceeds to charity organizations, further strengthening the appeal and potential of the Non-Fungible Token industry as well as the historic significance of the project.

About dCanvas

dCanvas is building the largest collaborative art project in the world in the name of social good. Inspired by the Reddit Place experiment, the dCanvas project leverages the Ethereum blockchain to connect online communities through the world’s largest, decentralized digital art canvas. Built by two doctors, the central mission of dCanvas is to redefine the limits of collaborative art while acting as a powerful catalyst for social good. Join the hundreds who have already signed up to make digital art history happen.

Contacts

  • Andrew Chen
  • team@dcanvas.co

Earn bitcoins per day by mining

Sign up and get free $30 coupon and $5 bonus with Nhash Cloud Mining services 

Earn bitcoins per day by mining 1

Nhash has emerged as one of the top cloud mining platforms with years of experience providing top-notch cryptocurrency mining systems. The platform offers computer power to users to mine bitcoin, litecoin, ethereum, and other cryptocurrencies. 

Nhash has an entire team of engineers, developers, and specialists that ensure that all runs properly and investors are offered the best possible mining pools to reap sustainable rewards. Nhash website is user-friendly and easy to use for the average crypto enthusiast. 

The cloud mining platform offers some of the most affordable pricing plans that ensure users can begin mining without a huge capital. With as low as $70 you can purchase a mining plan that offers a 1-day contract with no maintenance fee and fixed income of up to 3% on investment. 

Earn bitcoins per day by mining 2

Other plans include the $200 plan, a 7-day contract with returns of $12. The mega plan costs $2000 with a 30-day contract and returns of $2000+500, and the 5000$ plan offers a 45-day contract with no maintenance fee and expected returns of $5000+2000.

What is unique about NHash is that it offers cloud mining services without charging maintenance fees that is the norm on other platforms. It also provides a higher return on investment than other platforms, and investors are guaranteed their funds, you’ll get 2% of the quantity of hashpower purchased by your referral. For example, if someone purchases a $100 contract using your referral code, you’ll get $2 for free. It’s a win-win situation!

Nhash has an active customer support system available on live chat and email to resolve problems, while the FAQ section helps users fix common issues. The process of registration on NHash is also quick, and it only takes a few minutes to register. 

If you want to enjoy quick, affordable cloud mining,earn a fixed return every day,you can take advantage of the current promotion offered by Nhash. New users that signup are granted a free $30 coupon and $5 bonus when they purchase any cloud mining plans. To learn more about NHash and purchase cloud mining plans, please click the PRICING button on the top right of the website to learn more about investment details.

Bitcoin Price Analysis: BTC treading on shaky ground as hope for $60,000 diminishes

bitcoin

Bitcoin shot up from support established at $53,000. The approached to $60,000 was gradual but steady. Bulls took down several resistance levels, including the 100 Simple Moving Average (SMA), the 50 SMA, and the 200 SMA. However, an immense seller congestion zone at $58,000 became a hard nut to crack.

According to data by CoinGecko, the flagship cryptocurrency has lost 2.4% of its value in the last 24 hours. It has sustained a 4% growth in seven days but lost nearly 4% in the previous 30 days. Bitcoin’s trading volume across numerous platforms averaged at $66 billion and boasted of a $1 trillion market cap.

Bitcoin price correction could extend to $50,000

The bellwether cryptocurrency has corrected from the resistance at $58,000 and currently teeters at $55,630. Two tentative support levels have been lost, including the 200 SMA and the 50 SMA.

Note that the slightest resistance path appears to be downward based on the Moving Average Convergence Divergence (MACD) bearish impulse. The indicator is almost crossing into the negative region. Simultaneously, bearish pressure soar as the MACD line (blue) strikes under the signal line.

BTC/USD four-hour chart

BTC/USD price chart
BTC/USD price chart by Tradingview 

Similarly, the Relative Strength Index (RSI) reinforces the bearish outlook while dropping toward the midline. It also features a bearish divergence from the price.

Therefore, support at the 100 SMA is crucial to the resumption of the uptrend. If push comes to shove, $53,000 must hold to avert the potential losses to $50,000.

Bitcoin intraday levels

Spot rate: $55,630

Trend: Bearish

Volatility: Growing

Support: $55,000 and $53,000

Resistance: $56,000 and $58,000

The post Bitcoin Price Analysis: BTC treading on shaky ground as hope for $60,000 diminishes appeared first on Coingape.

Bitcoin (BTC) Realized Cap Shows Steep Increase Against Market Cap, Bull Run to Continue

Bitcoin

Bitcoin (BTC) hasn’t participated much in the recent market as it has been an altcoin-driven rally off lately led by Ethereum (ETH) and Dogecoin (DOGE). The BTC price has been consolidating for a long time around $55,000 and holding its market cap just above $1 trillion.

However, if we look at the steep increase in the Bitcoin (BTC) realized cap, the picture is very much clear suggesting that the Bitcoin bull run will continue here onwards. While the market cap considers total BTCs that have been minted, the realized cap takes a more nuanced approach.

The realized cap eliminates the impact of lost or dormant coins that haven’t been moved for long. As opposed to the current Bitcoin value, it measures each unspent transaction output (UTXO) based on the value moved last.

Glassnode CTO and co-founder Rafael Schultze-Kraft show that there has been an unprecedented capital inflow into Bitcoin (BTC) based on its realized cap. Over the last 6 months, the realized cap has jumped a massive 200% by another $250 billion.

Fall In the Bitcoin MVRV (Market Value/Realized Value) Ratio

Over the last month, BTC price has seen solid consolidation and its market cap has remained stable or “flat”. At the same, the BTC realized cap has increased steeper which has led to a fall in Bitcoin’s MVRV value. This is a bullish indicator suggesting strong fundamental build-up for Bitcoin (BTC). Let’s take a look at the chart here.

  • BTC’s MVRV-Z score at the same price in Feb 2021 was 7.6.
  • The current MVRV-Z score is 4.4.
  • Bitcoin’s MVRV during its previous price tops has reached above 10.
Courtesy: Glassnode

Well, it is clear that the BTC realized cap has completely replaced what was Bitcoin’s “market cap” six months back. Although Bitcoin has been consolidating over the last few weeks, GoinGape reported how its on-chain fundamentals continued to improve. Some of the positive pointers:

  • Bitcoin (BTC) whale accumulation was strong during this consolidation period.
  • Bitcoin’s NVT ratio suggests undervaluation at the current price point.
  • Bitcoin’s funding rate at exchanges remains low suggesting a slowdown in profit-booking.

The post Bitcoin (BTC) Realized Cap Shows Steep Increase Against Market Cap, Bull Run to Continue appeared first on Coingape.

Latam Based Exchange Bitso Gets Unicorn Status After $250 Million Funding Round

unicorn

Bitso, one of the biggest cryptocurrency exchanges in Latam, has reached unicorn status after a funding round that managed to raise $250 million with the participation of some big names in the cryptocurrency world. The company announced it would use these resources to expand its operations and keep growing in its core markets, including remittances.

Bitso Reaches Unicorn Valuation After Series C Funding Round

Mexico-based exchange Bitso has become the first LATAM cryptocurrency unicorn, after getting a valuation of $2.2 billion on its Series C funding round. The round got participation from important names in the investing sphere, being led by New York-based privately-owned hedge fund Coatue Management LLC and Tiger Global, another top investment firm. The round managed to raise $250 million and included other investors like Pantera Capital and Paradigm.

The company declared that it would use these resources to strengthen its core business in Latam and expand to other markets. Bitso is in a very comfortable position in Latam, where it is very popular in certain countries. While making inroads to Argentina during the last cryptocurrency boom in that country, Bitso is especially strong in its home country, Mexico, where it is looking to take a significant part of the business of remittances in the area.

How Bitso Got Here

Bitso, founded in 2014, has gone through a long and winding road to get here. The company carried its early founding round circa 2016, getting an early investment of $2.5 million by Digital Currency Group, the company that owns Coindesk and Grayscale Investments. Its next influx came in its Series A funding round, which raised $15 million during October 2019, followed by another influx of $62 million in December 2020, which was led by Kaszek Ventures and QED Investors.

Bitso also stamped a partnership with Ripple, the cryptocurrency company, that allowed them to leverage Ripple’s liquidity for doing quick remittances. This made Bitso is the biggest exchange partner of MoneyGram for Mexican pesos-based remittances. The advantage of Bitso is that the percentage of banking users in the region is very low, so this has allowed them to grow pretty fast, taking advantage of how cryptocurrency works and its cheap costs for remittances.

But Bitso is not only about remittances in Mexico. The exchange is focusing to expand its reach to other Latam countries, and it has been elected as one of the approved crypto companies to conduct tests in Colombia while also recently launching operations in Brazil.

What do you think about Bitso reaching unicorn status? Let us know in the comments section below.

Ivanka Trump’s luxury Miami apartment block accepting crypto for condos

With the cheapest condo listed for more than $10 million, Miami’s Arte Surfside luxury apartments are now aimed at crypto millionaires and billionaires.

Luxury Miami apartment Arte Surfside will now accept cryptocurrency as a form of payment for its remaining luxury residences — including the Villa Nove penthouse, currently listed for $38 million.

The firm has partnered with trading platform SolidBlock, allowing potential buyers to pay in multiple cryptocurrencies, including Bitcoin and Ether.

The region’s "most exclusive" condominium is already home to Ivanka Trump and Jared Kushner, as well as fashion blogger Arielle Charnas from Something Navy. It’s now attempting to appeal towards crypto millionaires and billionaires attracted by Miami's Bitcoin-friendly reputation. 

According to the announcement, the cheapest condo available starts at $10.3 million with spaces ranging from three to five bedrooms, with access to a 75-foot indoor pool, meditation pond, rooftop tennis court, and private temperature-controlled parking spaces. The highest sale to date was $33M for the penthouse condo — the same one that has just been relisted at $38 million.

Developers Sapir Corp noted that a number of top Silicon Valley companies and venture capital firms had moved to the city and this played a role in the decision to accept cryptocurrencies.

Miami Mayer Francis Suarez has already met with 'Dogecoin CEO' Elon Musk, Twitter CEO Jack Dorsey, and Google CEO Eric Schmidt in an effort to convince them to move operation to the sunny state. Cryptofinance firm XBTO Group has a new office there, Scott Minerd from global investment firm Guggenheim Partners and Peter Thiel-associate Keith Rabois have bought property, and VC Delian Asparouhov joked on social media about moving Silicon Valley to Miami. 

Chairman of Sapir Corp Alex Sapir said the company supported Mayor Francis Suarez’s vision to make Miami a cryptocurrency and technology hub.

"As the most exclusive luxury building in the city, we're positioning ourselves for a future where half the world's billionaires are crypto billionaires, which will happen once Bitcoin reaches $200,000. With cryptocurrencies already creating incredible worldwide wealth, it's real estate that will sustain that wealth and provide buyers with a legacy.”

Over the last year, Suarez has made it clear that he wants to landmark Miami as the country’s crypto center and he hailed Arte's announcement as the first of many.

"The embrace of cryptocurrency and emerging technologies across all sectors of industry is precisely how Miami will become the city of the century," said Mayor Francis Suarez. "Arte is setting an important precedent and I won't be surprised to hear similar stories in the near future."

A resolution for a new cryptocurrency task force passed on May 6, looking at the feasibility of allowing the Miami-Dade county to accept cryptocurrencies as a form of payment for taxes, fees, and services.

Next month, Miami will host the world’s largest Bitcoin conference, Bitcoin 2021 conference.

Ripple sold twice as much XRP this quarter, as demand grows for its ODL service

Ripple’s XRP sales are up 97% in Q1, with the firm attributing the growth to its focus on RipplesNet’s On-Demand Liquidity service.

Despite the ongoing legal battle with the Securities Exchange Commission, Ripple reported a 97% increase in sales of XRP for Q1.

Ripple posted its Q1 markets report on May 6th and revealed that total sales net of purchases had gone from $76.27 million in Q4 2020, to $150.34 million in Q1 this year.

Ripple noted the surge in sales was led by the growing demand for RippleNet’s working capital service On-Demand Liquidity or ODL:

“The increase in XRP sales can be attributed to deeper engagement from key ODL customers. For well over a year, Ripple has not sold programmatically.”

The firm added: “Ripple continued to engage in sales to support ODL and key infrastructure partners as part of providing increased XRP liquidity to improve the ODL experience of certain customers, eliminating the need for pre-funding and enabling instant global payments.”

According to CryptoCompare, total sales by Ripple accounted for just 0.07% of global XRP volume.

According to Ripple, ODL enables RippleNet clients to source instant liquidity in XRP that can be converted into international currencies within three seconds, removing the need to hold pre-funded accounts for international payments.

The company also reported that over the quarter, three billion XRP had been released from its massive escrow holdings — however 2.7 billion XRP had been returned to new escrow contracts.

Some have attributed XRP’s recent resurgence in part to Ripple labs’ purchase of a 40% stake in cross-border payments firm Tranglo, which was acquired to expand its ODL service into Southeast Asia.

Sheraz Ahmed, the host of the Crypto Valley Association podcast and managing partner at Storm Partners, a crypto and blockchain solutions provider, told Cointelegraph on April 9th that:

“XRP’s upward momentum is fueled by Ripple’s newly announced 40% stake in Asia’s leading cross-border payment processor, Tranglo. The partnership will undoubtedly increase Ripple’s exposure to the Asian market.”

Additionally, wallets holding between 1 million to 10 million XRP grew by 6.3%, up from 1,125 in Q4 to 1,196 in Q1.

The SEC case alleging Ripple Labs of selling unregistered securities worth $1.3 billion, does not appear to be preventing big players from increasing their holdings. The report revealed that the number of XRP whales had increased 3.5% in Q1. The firm posted data via Santiment, which showed “whale wallets'' holding 10 million XRP or more increased from 308 in Q4 2020, to 319 in Q1 2021.

According to data from CoinGecko, the price of XRP is up 648% in the past 12 months. John Wagster, an attorney at Frost Brown Todd spoke with Cointelegraph on April 18th and attributed XRP’s mammoth gains to the bullishness in crypto markets in general, rather than to the firm's recent set of legal wins in its defense of the SEC case.

In the past 24 hours more than $14 billion XRP changed hands and currently sits at a price of $1.59, with a market cap of $73 billion.

Square Reports Record-Breaking Revenue, Driven by Bitcoin Purchases

The electronic payments fintech Square Inc. proved with numbers that Bitcoin is good for business, and its financial results are the best evidence.

Square Inc.’s quarterly sales more than tripled, thanks mainly to the recent interest in cryptocurrencies by the general public.

Bitcoin Means Business

In a letter to its shareholders published this week, Square Inc. revealed that in the first quarter of 2021, it achieved a gross profit of $964 million, representing a 79% increase year over year. The company also reported that sales processing revenues totaled $468 million, up 32% year over year and that Cash App generated a gross profit of $495 million, which was 171% more year over year.

Square Financial Report
Square Financial Results. Image: Square

The company revealed that much of its revenue is due to the growing attractiveness – and price – of Bitcoin:

In the first quarter of 2021, total net revenue was $5.06 billion, up 266% year over year, and, excluding bitcoin revenue, total net revenue was $1.55 billion, up 44% year over year.

The financial results show that Square’s bet was successful, and the risk taken was worth it, considering that it managed to generate in one year what would be expected for 3 continuous years of activity.

Square’s Bitcoin gross profit was only $75 million, mainly due to the profits obtained from payment processing:

During the first quarter of 2021, we saw significant growth in bitcoin revenue year over year. While bitcoin revenue was $3.51 billion in the first quarter of 2021, up approximately 11x year over year, bitcoin gross profit was only $75 million, or approximately 2% of bitcoin revenue.

However, Square Inc. recognized that such results are not always replicable. As a result, what it earns from its bitcoin trading activities will depend mainly on its users’ price, interest, and habits.

The Love Story of Square and Bitcoin

Square is an openly pro-bitcoin company. Its CEO, Jack Dorsey, who is also CEO of Twitter (the leading social network in the crypto-verse), is a confessed bitcoiner who has assured on several occasions that Bitcoin could eventually be a globally adopted cryptocurrency in the internet of the future.

In October 2020, Square announced the purchase of 4,709 bitcoins for a total of $50 million. This decision was crucial for Bitcoin’s historic bull run that took it to new highs.

Other major companies like PayPal -which announced support for the purchase and sale of cryptocurrencies— soon replicated this move. MicroStrategy and Tesla sealed Bitcoin’s fate shortly thereafter, fueling a surge of unique dimensions in Bitcoin’s history.

Later on, in february of 2021 Square purchased an additional $170 million in Bitcoin, increasing its holdings to over 8.000 BTC —which is over $450 million today.

Pretty good eye for business opportunities.

Here’s two important reasons why Cardano (ADA) hit an all-time high today

Cardano (ADA) posted a new all-time high today of $1.68. Several events have contributed to this. Most recently, U.S. exchange Kraken announced the addition of ADA staking on its platform. There’s also the feel-good factor still lingering from the Africa deals.

With parent company IOHK pushing to roll out the Alonzo smart contract protocol by August, things are shaping up nicely for Cardano. The question is, can it continue to sustain this momentum? And if so, what might that mean for its price?

Kraken adds Cardano staking

Late Tuesday evening UTC saw Cardano staking go live on Kraken. The firm posted a tweet announcing the news. On offer is a return of between 4-6%, which is slightly less than the 7.26% rate per stakingrewards.com. But still in line with the real-world returns reported by delegators.

Receive initial annual staking rewards between 4-6%, issued weekly with instant stake & unstake.

Staking is a way to actively participate in validating transactions on a Proof-of-Stake (PoS) network. By locking tokens in a staking protocol, users help to secure the network. In return, passive rewards are earned in a relatively low-risk manner.

Last month, data analytics firm CryptoDiffer compiled information showing Cardano was the industry’s biggest staking platform, with $29.5 billion staked. Three weeks on, and this figure is up almost 30% to $37.54 billion.

As the fourth largest crypto exchange by volume, Kraken’s support of the Cardano staking ecosystem is expected to accelerate this trend further.

What’s next for ADA?

Cardano’s YTD gains come in at +860%. Whereas rival smart contract platform Ethereum had +380% gains over the same period. However, both performances pale by comparison to Dogecoin’s near 12,000% growth since the start of the year.

Mid-April this year saw ADA undergo a period of consolidation as it ranged from $0.88 to $1.50. The announcement of partnering with the Ethiopian government coincided with a downward trend reversal.

Before ADA breakout, @rektcapital posted a tweet of his technical analysis on a weekly chart yesterday. He highlighted the $1.40 level as a major resistance zone. Adding that once broken, ADA will be free to explore price discovery.

For how much longer will this final major resistance be able to hold ADA back from breaking out into new All Time Highs and Price Discovery?

Cardano TA
ADA/USD via TradingView

Having cracked that zone soon after posting the tweet, it remains imperative for ADA to stay above it.

If ADA can do that, YouTube channel The Coin Bureau puts a price prediction of $3, maybe more, in the near term. But, as mentioned by host “Guy,” this is relative to Alonzo shipping on time.

The post Here’s two important reasons why Cardano (ADA) hit an all-time high today appeared first on CryptoSlate.

Saylor Reacts To Taunts That Bitcoin Has Become The MySpace of Crypto

MicroStrategy CEO Michael Saylor responded to a tweet implying that Bitcoin’s days are numbered. In it, the poster likened the leading cryptocurrency to MySpace. Saylor answered by saying BTC trade volumes equal MySpace’s peak valuation every few hours.

With some now calling Bitcoin “boomer crypto,” due to it being relatively unexciting compared to the others, is there any truth in the MySpace allegations?

Is Bitcoin Becoming The MySpace of Crypto?

Defending Bitcoin over claims it is becoming irrelevant, Saylor said the leading cryptocurrency had grown faster than any company in history. He added that Bitcoin towers over MySpace in terms of valuation.

At its peak, MySpace was valued for a day in a single private transaction at less than .06% of #Bitcoin which has grown faster to a larger market capitalization than any company in the history of the world. We trade one lifetime worth of MySpace in $BTC every few hours.”

MySpace was the first social network to reach a global audience. It was the dominant platform between 2005 and 2008, serving 100 million users a month.

By May 2009, Facebook’s number of monthly users exceeded that of MySpace for the first time. This was the beginning of the end, and its user count continued to fall off despite several site overhauls. Even so, it continues to this day with around 7 million users a month. In comparison, Facebook pulls in 2.7 billion users a month.

According to Lifewire, MySpace’s downfall was due to several factors, but its failure to innovate and keep pace with competing platforms was chief among them.

“one argument held that the company never figured out how to innovate well enough to keep up with the competition.”

While Saylor may argue that BTC trade volumes are substantial relative to MySpace, some would say he didn’t address the point of the argument. Bitcoin is often accused of being an innovation graveyard.

Taproot Upgrade Already In-Play

The last major Bitcoin innovation came in 2017 with the SegWit soft fork, enabling transactions to be split into blocks by separating signatures. SegWit was intended to avoid accidental transactions and make the network run faster and more efficiently.

Earlier this week, developers merged Bitcoin’s Taproot upgrade with the source code. It will make Bitcoin multi-signature transactions cheaper, more private, and easier to deploy.

“It is intended to increase Bitcoin’s fungibility, improve the functionality of smart contracts, and boost privacy by making all transactions look the same to outsiders.”

Miners who approve of the upgrade can signal their support by including particular data, known as a “signal bit,” in their mined blocks. If 90% of the mined blocks up to the cutoff point of August 11 include the Taproot signal, the upgrade gets locked for activation in November.

The majority of mining pools have already signaled their approval of Taproot. But as far as crypto innovations go, some would say Taproot is still a relatively conservative innovation.

Bitcoin daily chart

Source: BTCUSD on TradingView.com

Shanghai Man: VeChain on TV, DOGE flips BTC volume, Hotbit hack and more …

DOGE leading in volume and search hits, VeChain’s blockchain solution on state run CGTN, and HOO launches a smart chain of its own

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.

Will DOGEmania ever stop?

Dogecoin has officially flipped Bitcoin in a few categories here in China, with DOGE trading volume on leading Chinese exchange Huobi surpassing that of leading assets ETH and BTC. On May 6th, according to CoinGecko, DOGE volume made up more than 15% of total exchange volume, whereas BTC and ETH were around 8% each. Searches for ‘Dogecoin’ on WeChat surpassed searches for Bitcoin, with 2.3 million versus 1.7 million on May 5th. Dogecoin has become increasingly appealing to the Chinese retail community since earlier this year as many are attracted to the virality and get-rich-quick potential of the colorful DOGE community.

Hacking attempt fails, but causes a major ruckus

Centralized exchange Hotbit was the victim of a hacking attempt on April 30th. The good news was that assets appear to be safe on the platform. The bad news was that user data was compromised, leading to a corrupted database. Trading, deposits and withdrawals have all been paused while the exchange attempts to restore normality. The Chinese exchange has been communicating actively via Twitter, with the interrupted service lasting potentially another week. Hotbit is well known for listing a diverse range of assets, making it a popular spot among more risk averse investors.

Shenzhen-based HOO launches Smart Chain contender

Hoo.com became yet another exchange to launch an Ethereum Virtual Machine, or EVM-based, smart chain, attempting to bridge their CeFi users into the DeFi space. The chain, currently in testnet, boasts low fees of just 0.001 USD per transaction and over 500+ transactions per second, as well as compatibility with Ethereum, BSC, and HECO. Since the start of the year, Hoo’s token has increased by over 350%. Other Chinese exchanges, including OKEx and Gate, have also launched smart chains. Smart chains are proving an attractive way to let users maximize yield while still letting the exchange capture value from the process.

VeChain on national TV

English-language and state-run business channel CGTN created a short expository video on blockchain’s growth post-COVID19. The video and article featured a close look at VeChain’s progress in developing business solutions, explaining how the technology could be applied to the food safety and infection control industry. The media company shot a short video inside the office and interviewed a few of the developers, indicating that the company has done well to comply with regulatory requirements in the tightly run country. It’s no secret that VeChain has a top position and close relationship with many government backed organizations, which is an enviable position for any enterprise Blockchain-as-a-Service provider.

Rising salaries for blockchain devs

The Beijing Human Resources and Social Security Bureau recently released the 2021 Beijing Human Resources Market Salary Survey Report (First Quarterly)". According to the report, new and hot jobs, which included the tech space, had a median average monthly salary mainly in the $3,000 to $4,600 range. Blockchain engineers comfortably eclipsed that with a wage of $6,700 per month, showing the growing demand for the skills. By contrast, the average annual salary of a blockchain developer in the U.S. often exceeds $12,500 per month, according to recruitment firm Hired.com, nearly double the going rate in Beijing.

Miners back up and running... away?

Mining appears to have resumed as normal following the outages after a deadly coal mine accident last month. The incident required rigorous inspections of mining facilities, forcing many ASIC miners to turn off their machines. Hashrates have currently recovered to near the rates they were prior to the incident in the middle of April. One interesting shift, however, is that the industry appears to be gradually shifting from China to North America. F2Pool founder Chun Wang noted that for the first time in 8 years, more than half the BTC hashing power was coming from outside of China. This may have been partially tied to the incident, but is a trend that many experts are following as mining regulations in China appear to be growing stricter.

US mulls regulating crypto exchanges

TL;DR Breakdown

  • Garry Gensler proposes regulating crypto exchange in the US
  • Why regulators ‘may’ want to regulate crypto firms

The newly appointed chairman of US Security and Exchange Commission (SEC), Gary Gensler, has told the congress (House Financial Services Committee) to consider regulating crypto exchanges in the US.

Gensler explains the move is to protect investors that invest in these exchanges. He emphasizes that crypto exchanges do not have any regulatory framework at the SEC and the CFTC (Commodity Futures Trading Commission), which could instill confidence in investors.

He also said that there are no protections against fraud and manipulation as he convinced congress to act on the situation.

The SEC chair hearing was mainly on the fallout from January’s GameStop short squeeze. It was called “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.”

During the hearing, Rep. McHenry asked Gensler how his led SEC would bring more regulatory clarity to crypto and blockchain.

What is it with crypto exchanges, crypto coins, and regulators?

To many, the lack of government interference in crypto operations is a positive thing for the industry. A class of the crypto community best described as the libertarian-leaning Bitcoin-like the lack of guardrails.

However, the missing government oversight functions in the space is part of why the market remains risky.

Both the SEC and CFTC oversee cryptos in some instances. However, with BTC, ETH, and other digital assets not categorized as securities, Crypto exchanges that trade these coins can be independent of the SEC.

However, regulators remain worried about happenings in the space owing to the spate of crime and the prospect of illegalities the industry can harbor.

A recent report from the blockchain analytics firm CipherTrace pointed to an “inevitable” expansion of illicit activity in crypto as space continues to grow. These reasons leave regulators concerned about the space and seek measures to bring crypto exchanges and the entire crypto space into the fold.

Stellar To Power VISA’s New Partnership, XLM Begins Breakout

Stellar follows the general market sentiment with green indicators across the board. XLM’s price seems to be positively reacting to the increase in USD Coin (USDC) liquidity on top of its blockchain. Additionally, the Stellar Development Foundation (SDF) made a potential groundbreaking announcement.

Alongside VISA, Tala, and Circle, one of the companies behind USDC, the cooperation aims to provide access to digital assets in emerging markets. Initially, Tala will enable unbanked users to access this stablecoin in a digital wallet.

Thus, they will be able to make cross-border transactions and access fiat to crypto services. In addition, Visa will issue cards with funds linked to the wallet. In doing so, these users will have the capacity to spend their crypto balance in over 70 million merchants around the world.

Visa has doubled down on their crypto strategy in 2021 and seems like more integrations are to come. The company is exploring new ways to leverage digital assets in its payment platform. The head of Visa’s crypto department, Cuy Sheffield, said the following:

(…) we’ve been really interested to see how they could have the potential to help consumers in markets where they don’t have great access to financial services.

Shivani Siroya, Tala’s CEO, claimed that their main goal is for people to send remittances at a low cost. The Santa Monica-based company has clients in Mexico, Kenya, India, and other countries in the Asian continent. The cooperation with the SDF, Visa, and Circle is Tala’s first jump into the crypto space. SDF’S CEO, Denelle Dixon, said the following on the cooperation:

By working with innovators like Tala mobile, Visa, Circle who share our vision that financial inclusion is a right, not a privilege, we can bring the benefits of tech to emerging markets & take a step closer to our mission of equitable access to the global financial system!

Stellar (XLM) On A Bullish Trajectory

Stellar Lumen native token XLM seems to be positively reacting to this announcement. At the time of writing, XLM trades at $0,65 with a 13.4% rally in the daily chart. In the higher timeframes, the cryptocurrency seems more bullish with a 31.7% and 23.4% rally.

Stellar XLM XLMUSDT
XLM moving sideways in the daily chart. Source: XLMUSDT Tradingview

Trader Pentoshi took the opportunity to take a long position. The operator believes XLM’s rally has gone unnoticed after it managed to break out of its 680-day range. Pentoshi added the following:

XLM beginning its breakout. There’s little to no resistance built because of the inefficiencies on the moves shown. Probably goes higher than people think because of the 680-day range. Holders outperform traders.

The trader expects XLM to reach a new high in the short term and added: “When something breaks out of a multi-year range. It tends to go much higher than people think”.

XLM Stellar Lumens
XLM breaking multi-year range. Source: Pentoshi

Coinbase falls to its lowest level since it went public

TL;DR Breakdown

• Coinbase system has a shares loss of 8.16% today.
• Binance is Coinbase’s number one rival for its cryptocurrency policies.

Shares held by Coinbase fell to the lowest level since trading on Nasdaq in mid-April. The American exchange system’s share price is under by 8.16%, which is $251.85 after passing the middle of this Thursday. This would be the fourth day that the Coinbase shares price has fallen, which is unfavorable for the company.

Aptus Capital Advisors analyst David Wagner opined: “Coinbase, from the view of its shares, has entered a bear market.”

Although the Coinbase open showed volatile trading on the day, the company retained a valuation of $86 billion as the session ended. Its shares had a reference value of $250 and started at $381 before reaching an intraday value of $429.54. However, the course was reversed to capitalize at $310.

Wagner notes that institutional traders will be concerned about the plataform’s involvement because of its high shares. He also highlights that the absence of a leisurely period may be because this gives investors few guarantees.

The platform is the first public cryptocurrency exchange system that shows its milestone for the digital ecosystem. This exchange source stands out for its advancement in the traditional and crypto financial markets.

Coinbase restricts volatile currencies like Dogecoin

Coinbase

Coinbase have restricted the trading of cryptocurrencies that have had price explosions these days, such as Dogecoin, the meme currency. DOGE has had a 13,000% profit in the last 12 months, which turns out to be abysmal.

Binance Coin is also restricted by this company, due to its sudden rise in capitalization. This cryptocurrency is in third place for $99 billion in market cap.

Oanda Market Analyst Edward Moya told Insider: “Coinbase has been falling non-stop since its opening because traders are using other altcoins that it does not accept, while on the other hand, people choose to keep their cryptocurrencies in their wallet.”

Coinbase has a lot of competition

Gemini, a New York-based exchange system, was recently trending for accepting Dogecoin cryptocurrency trading. This platform joined others such as Robinhood and Kraken that accept more new cryptocurrencies every day.

The competition the company has is also worrying. Its closest rival, Binance, has notified that it will not go public. But Kraken said that it could lend operations until next year due to the explosion with trading in Bitcoin.

The only way that this platform can bounce back on the downside is by increasing its flexibility. The company’s policies have to be renewed so it can adopt cryptocurrencies that are trending today. With this absorption of new crypto, perhaps the market will get back to its rhythm, while generating incredible profits.

Crypto Whales Buying Massive Amounts of Ethereum As Retail Traders Eye Several Altcoins: Santiment

Crypto analytics firm Santiment is analyzing new trends in the market as Ethereum draws in whales and heads to a fresh all-time high.

Santiment says that as ETH hit a new high of $3,524 this week, large whales appeared to be accumulating. The firm notes that whale addresses on top exchanges continue to shed ETH – a sign that investors are buying the top crypto asset and then moving it over to their personal wallets.

“Ethereum touched yet another all-time high of $3,524 a few hours ago before dropping on a mild market-wide correction. Top 10 non-exchange whale holdings have doubled in the past 8 months, while the top 10 exchange whales halved in the past 7 months.”

Source: Santiment

According to the firm’s data, Ethereum is also one of Santiment’s ‘top trending assets,’ along with meme coin Dogecoin (DOGE), decentralized finance (DeFi) coin Safemoon (SAFE), Ethereum hard fork Ethereum Classic (ETC), digital mobile operator Dent (DENT) and Coinvest (COIN).

As for Bitcoin, despite the recent dip below $54,000, Santiment notes that the flagship cryptocurrency is receiving plenty of interest from crypto whales.

“Bitcoin has slid these past couple days, but as the crowd shows mild concern, new whale addresses have been created.

The number of 1,000+ BTC addresses has jumped back to 2,234, with the largest single-day growth in new addresses (7) since March 31.”

Source: Santiment

Additionally, existing Bitcoin addresses have been quite active of late, ringing in the highest network activity since March.

“Bitcoin quietly saw its largest daily active address day in 3 weeks, and 4th largest day of 2021.

The 1.27m unique address transacting on the $BTC network is a welcome sight after major lows took place right before the dip. See if this rise continues.”

Source: Santiment
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Crypto Whales Buying Massive Amounts of Ethereum As Retail Traders Eye Several Altcoins: Santiment appeared first on The Daily Hodl.

Altcoins rally as bulls pile into large-cap tokens and layer-1 projects

EOS, LTC, ETC and ETH are just a few of the altcoins that chased after new multi-year highs as layer-1 projects saw an increase in trading volume.

The cryptocurrency market provides investors with another day of 'altseason' as the majority of altcoins in the top 100 on CoinMarketCap rallied today.

Several large-cap tokens reached multi-year highs and this all took place as Bitcoin (BTC) price struggles to hold any of the news-event-driven gains that it has accrued throughout the week. 

One of the most notable performances has been put on by Ethereum Classic (ETC), the “unaltered” Ethereum (ETH) fork that has been gaining traction over the past week as its dedication to a proof-of-work consensus mechanism attracts the attention of miners and retail 'Robinhood' investors.

ETC/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets and TradingView shows that after hitting a low at $86.12 in the early trading hours on Thursday, the price of ETC jumped 81% to reach a new all-time high at $179.83 as the 24-hour trading volume spiked to a record $39.1 billion.

Several large-cap cryptocurrencies have seen significant gains recently including, Litecoin (LTC) which hit a one-year high compared to BTC, and a 68% rally in Bitcoin Cash (BCH) which spiked above $1,500 for the first time since May of 2018.

Layer 1 solutions soar as trading volumes increase

Ether also hit a new all-time high at $3,605 as excitement continues to build ahead of the London hard fork and the implementation of EIP-1559, which is expected to take place in July.

Cardano’s ADA token is another top 10 project that saw its price reach a new all-time high at $1.69 and Tezos (XTZ) rallied 23% after the start of the trading day to reach a new record high at $8.05.

Several of the ‘Ethereum Killers’ that arose out of the 2017-2018 bull market saw double-digit gains including EOS, whose price rallied 50% intraday to a peak of $12.57, and Neo (NEO), which spiked to a high above $128 before a general market pullback led to a dip in the majority of prices.

Bitcoin dominance drops to new lows

The steady strength shown from altcoins has led to a steady decline in Bitcoin dominance over the past month, which dropped to a low of 45.25% on May 6. According to analysts, this is yet another sign that an altcoin season is in full effect.

BTC market cap dominance 4-hour chart. Source: TradingView

While institutions appear to heavily favor Bitcoin and to a lesser degree Ether, retail traders have been drawn to lower-priced tokens that offer the possibility of larger gains, as evidenced by the recent price explosion in Dogecoin (DOGE).

If this trend continues, it's likely that Bitcoin's dominance rate could continue to slide lower as new funds coming into the cryptocurrency ecosystem through stablecoins are more widely distributed.

The overall cryptocurrency market cap now stands at $2.346 trillion and Bitcoin’s dominance rate is 45.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

IDEX’s ‘hybrid liquidity pool’ aims to tackle some of DeFi’s biggest problems

DeFi’s tremendous growth hasn’t come without obstacles; the nascent industry still struggles with high costs, failed trades and front-running.

IDEX, a San Francisco-based decentralized exchange, has unveiled new protocol upgrades designed to solve two of the biggest issues with DeFi — slippage and front-running. 

The exchange claims that its Hybrid Liquidity protocol solves these challenges by combining an order book and trading engine with the liquidity pools of an automated market maker, or AMM.

“The novel exchange design protects users from the most glaring pitfalls of AMMs, including failed trades and front-running, by instantly executing trades against the best combination of limit orders and pooled liquidity,” the company said, adding:

“This approach generates higher returns for liquidity providers while also allowing for more advanced trades like stop-loss and limit orders.”

IDEX cites research from Dune Analytics showing that up to 5% of transactions on Ethereum-based decentralized exchanges fail due to complications like “too much slippage or insufficient gas prices.” Data from Etherscan and Dune Analytics also show that roughly 22% of Uniswap transactions between Apr. 15-21 failed.

Uniswap is the second-largest decentralized exchange by trading volume, according to Coingecko. Mdex takes the top spot, based on 24-hour transactions as of Thursday.

DeFi, which stands for decentralized finance, is one of the biggest trends in the cryptocurrency market, but the industry’s rapid growth over the past 12 months hasn’t come without complications. Exorbitant costs, smart contract risks and the higher likelihood of user error are just some of the biggest pain-points dragging on adoption. Security is also an issue, as evidenced by the theft and exploitation of hundreds of millions of dollars worth of DeFi assets.

Nevertheless, DeFi remains on track to grow considerably during the next leg of the bull market. Currently, more than $137 billion has been locked into the ecosystem, according to industry data.

Bitcoin Cash: Know more about this cryptocurrency

TL;DR Breakdown

• Bitcoin Cash increased transactions per second.
• Bitcoin Cash has lower transaction fees than Bitcoin.

Bitcoin Cash has entered the list of the ten best cryptocurrencies for passive investments. This digital currency has a source code similar to Bitcoin. But, its payment processing is faster than BTC.

BCH is going through its prime, rising 11% more this Thursday from 300% so far this year, according to Coinbase figures.

What is Bitcoin Cash?

Bitcoin Cash

The cryptocurrency was developed in 2017 as a fragment of Bitcoin, gained fame for its fork in crypto. Based on Blockchain technology, Bitcoin accepts only seven transactions per second, causing conflicts for daily transactions.

Alex de Vries, an economist at Bitcoin Cash, told CNN Business: “BTC Cash is the alternative to Bitcoin with which it is expected to increase the transaction limit.”

The founders of the cryptocurrency aimed to upgrade the size of the Bitcoin blockchain by 1MB every 10 minutes. “Bitcoin transactions only reach 8MB every 10 minutes,” de Vries pointed out.

“The BTC Cash creators made an update to the Bitcoin software, which increased its transaction limit. Thus the cryptocurrency was born,” said de Vries.

All Bitcoin Cash split into two parts for 2018; in a similar context, they made another fork named “Bitcoin SV.” This other fork topped $8 billion, ranking in the top 19 of the most popular cryptocurrencies as indicated by Coinbase.

How is Bitcoin Cash different from Bitcoin?

Just as Bitcoin Cash looks a lot like Bitcoin, it also has its differences, and not just in its capitalization. Bitcoin has more demand than its fork, and that is why it maintains the top position. According to Coinbase, the market value in Bitcoin exceeds $1trillion.

A Bitcoin Cash portion also passed into Litecoin to gain momentum and take a good position. Although both cryptocurrencies have 18.7 million tokens on the market, the demand for BTC Cash differs from for Bitcoin.

The CEX.IO director told CNN Business that: “Bitcoin Cash has shown that it is a resilient cryptocurrency in today’s ecosystem.”

Although this statement is true, it does not mean that the cryptocurrency could reach a greater capitalization than BTC. BTC Cash would increase transaction speed, but this did not turn out as expected.

Although BTC Cash had a failure in the reason for its experiment, it has achieved success in other aspects. The transaction fees forthe cryptocurrency are lower than in Bitcoin; according to BitInfoCharts, and do not exceed $0.28. While the transaction fees on Bitcoin could be up to $60, as indicated by Coindesk.

With these points clear, Bitcoin Cash has become another alternative to Bitcoin, including Litecoin. The cryptocurrency has also been engulfed in the price bubble that affects other tokens such as Dogecoin, Ethereum, and Bitcoin.

ConsenSys exec joins CoinFund to assist early-stage blockchain firms

“My team will serve as partners who support and guide founders and their teams during their journeys from early-stage to growth-at-scale,” said Vanessa Grellet.

Vanessa Grellet, a five-year veteran of Ethereum software company ConsenSys, will be joining crypto investment group CoinFund as its new head of portfolio growth.

In an announcement from CoinFund today, the investment group said Grellet would be responsible for guiding its portfolio of more than 50 companies and projects. The new head of portfolio growth will be aiming to “bridge the gap between the worlds of traditional companies and decentralized networks” by forming alliances between blockchain projects and protocols.

“My team will serve as partners who support and guide founders and their teams during their journeys from early-stage to growth-at-scale,” said Grellet. “The firm’s investment in our Portfolio Growth team [...] demonstrates our dedication to meeting the needs of early-stage companies as well as our long-term commitment to the blockchain industry.”

CoinFund has invested in many popular projects in the crypto space. In September, the firm backed non-fungible token-based digital art marketplace Rarible, after which its governance token doubled in price. The investment group was also behind funding for Delta Exchange's expansion into Indian markets last May.

A financial analyst and lawyer, Grellet previously worked as a corporate strategy executive at the New York Stock Exchange. She currently sits on the boards of the Arts and Antiquities Blockchain Consortium and the Accounting Blockchain Coalition and is the president of Blockchain for Social Impact Coalition.