Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale

March 5, 2021 – Beverly Hills, California

Mogul announces access pass sale details, offering behind-the-scenes access to the film industry through DeFi, NFTs and rewards.

Mogul Productions, the decentralized film financing (DeFiFi) platform, has announced the details for their upcoming access pass sale on the Ethereum mainnet.

The access pass event will happen through the Mogul platform on March 25th. The announcement of the sale follows a successful launch of their platform, which garnered nearly 6,000 users in the first 24 hours.

For a limited period, Mogul is offering tiered access pass packages through their platform. Each package consists of a non-fungible token (NFT), their STARS ERC20 token and a personalized physical package of merchandise that is sent to the purchaser.

The access pass NFT represents the purchaser’s level of access within the Mogul platform. Each level of access will have different experiences and rewards available to them related to Mogul-produced movies, which can be found on the Mogul website.

The STARS token is required for access to the Mogul platform and each user must have a minimum of one token. STARS are used as the in-app utility and governance token.

The access pass sale will occur from March 25th through April 8th, and tiers will be sold on a first come, first served basis.

STARS tokens will be immediately distributed to users’ wallets during the sale and will unlock one week following the end of the sale.

Mogul announced that their token will be used for access, governance, voting and as an in-app currency. Interested purchasers can now sign up on their platform to join the waitlist.

Full details of the Mogul access pass sale and a detailed roadmap can be found on their Medium blog.

About Mogul Productions (Mogul)

Mogul Productions is a decentralized film financing (DeFiFi) platform that connects creators, movie fans and film financiers in one space to ensure the best films get made by giving everyone a voice. By leveraging blockchain technology and a tokenized system, Mogul incentivizes participation and rewards engagement. Using the Mogul in-app payment and utility token (STARS), users can vote on, greenlight and participate in key decision-making aspects of production. Mogul’s continuous financing ensures constant liquidity, allowing financiers to redeem their stake at any time. Mogul’s production team and advisors are award-winning Hollywood veterans who have written, directed, acted in and produced a wide range of films and TV shows.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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The post Mogul Brings NFTs and DeFi to the Film Industry, Announces Access Pass Sale appeared first on The Daily Hodl.

Chainlink, Synthetix, Verge Price Analysis: 05 March

The altcoin market showed that market bears were in the ascendancy over the past week, with the same likely to continue over the next few days. Chainlink approached an area of demand at $25, while Synthetix faced rejection at the $27-level. Finally, Verge flipped the $0.019-level to support, although this development could be short-lived. Chainlink […]

Ethereum “ETH Buyback” Update Scheduled for Summer 2021

Big news for Ethereum: the network’s major EIP-1559 update is happening this summer. 

ETH Buyback Ready to Ship

EIP-1559 will go live in Ethereum’s London hard fork, expected to launch in July. 

Tim Beiko, the coordinator for the various researchers working on the update, confirmed the news on Twitter today. 

Beiko posted the update live from Ethereum’s latest AllCoreDevs call. He proposed implementing EIP-1559 as part of London, to which the other Ethereum developers on the call agreed to the update. 

Beiko recently took to Github to finalize London’s launch date; he suggested it should go live on mainnet in July. It’s set to follow Ethereum’s Berlin fork, which is happening in April. 

EIP-1559 is Ethereum’s most anticipated update since the launch of Serenity in December. It will see a portion of the gas fees on every transaction get burned, reducing the supply of ETH. Beiko told Crypto Briefing that EIP-1559 could be thought of as an “ETH buyback” proposal earlier this year. EIP-1559 could make ETH a deflationary asset. 

Ethereum developer Justin Drake recently shared a post highlighting the impact EIP-1559 could have on ETH. He used the term “ultrasound money” to compare it to BTC’s popular “sound money” narrative. 

Though EIP-1559 should solidify ETH’s economic proposition and the security of the network, it’s been a point of contention among various community members.

Certain miners have publicly opposed the update since it effectively hurts their source of revenue. SparkPool and Bitfly, two of Ethereum’s key mining pools, have regularly shared their concerns on Twitter. “We are sad to see many people only care about price now,” SparkPool said on Feb. 5. 

Meanwhile, another of Ethereum’s biggest mining pools, F2Pool, has been supportive of the update. On Feb. 25, the team penned a blog post titled “Staying on the (b)right side of history.” In it, they wrote: 

The only counter arguments have been focused on short-term miner revenue loss. Therefore, for now, we are in full support of the proposal and will help move this effort forward.” 

Disclosure: At the time of writing, the author of this feature owned ETH and several other cryptocurrencies. 

The Flash Mint is here: WETH10 turbocharges the flash loan concept

The newest Wrapped Ether has an extensive list of improvements, including the anticipated flash mint feature.

A team has released WETH10, the latest iteration of the Wrapped Ether token that allows using Ether (ETH) in a DeFi setting. WETH10 carries a host of useful features, the most notable of which is the flash mint, an evolution of the flash loan concept.

Flash loans allow users to borrow the entire liquidity pool of a protocol to use as they see fit, without posting collateral. The only limitation is that the loan must be returned in full within the same transaction, otherwise the loan will never exist in the first place.

In the DeFi community, flash loans are primarily a tool for arbitrage, as they offer an unlimited source of funds for anyone transacting entirely within the DeFi ecosystem. This includes liquidation bots, with one lucky liquidator making $4 million from scratch in November by using flash loans. Another class of flash loan users are hackers and protocol exploiters, who often use them as a source of funds for their attacks.

The flash loan’s prevalence in hacks has made the concept somewhat controversial, with some arguing that they are net negative for the ecosystem and should be removed. For others, they represent one of few meaningful DeFi innovations, which democratizes access to arbitrage.

One limitation of flash loans is that the total sum available for a transaction is limited by the liquidity locked in a particular protocol. This is where the concept of a flash mint comes into play — instead of taking funds from a liquidity pool, the mechanism mints tokens out of thin air and destroys them once no longer necessary.

The amount that can be obtained from a WETH10 mint is not really infinite, Alberto Cuesta Cañada, technical lead for Yield Protocol and developer of WETH10, told Cointelegraph:

“The only limitation to flash mints of WETH10 is that the flash minted amount can never exceed 2^112-1 at any given time.”

In decimal terms, the number quoted by Cuesta Cañada has 33 zeros, which should be enough to cover any liquidity needs in DeFi. In practice, if the user needs to unwrap the WETH for a particular use, there may be limitations due to how much ETH is stored on the WETH contract.

Most DeFi protocols actually use WETH in the backend, though they hide this from users by automatically wrapping and unwrapping it at each interaction. If they were to switch to WETH10, the flash mint could grow to its full potential.

Will projects adopt the new standard?

“The new standard will be adopted slowly, it it gets adopted,” said Cuesta Cañada. “It is not users, but applications, that might adopt WETH10, and nothing might be seen for at least a couple of months.”

Adopting WETH10 only for the risk of amplifying potential losses from coding mistakes may be a tough proposition, but the new token carries a host of other advantages. WETH10 includes the ability to make transactions free for the end user, and it skips the “approve token” mechanic to save on gas costs and avoid security threats. An additional benefit of WETH10 is that its flash mint is completely free, unlike flash loan protocols levying their own fees.

Cuesta Cañada believes that newer projects will have an easier time integrating the standard, with existing names possibly doing so in their next releases. It is yet unclear if DeFi projects believe the risks of flash mints outweigh the benefits from the new WETH standard. “No one has committed to use it yet, but we haven't gone looking for it either,” said Cuesta Cañada. He concluded:

“If the selling proposition of WETH10 is good enough, it will be adopted. If it is not, such is life, we all learnt a lot and had a great time coding it.

FCA Crypto Ban: Bybit suspends services to UK

TL;DR Breakdown

  • UK FCA bans crypto derivatives.
  • Bybit to end association with British users by March 31st.
  • British crypto traders disagree with FCA’s decision.

The crypto industry suffered a major blow recently as the UK’s Financial Conduct Authority (FCA) announced a ban on trading crypto derivatives in the region. The FCA’s crypto ban prohibits the marketing, distribution or sake of exchange-traded notes (ETNs) and crypto derivatives. Bybit, a major player in the crypto derivatives industry have, following this ban, suspended all of its activities in the UK, as well as new registrations with phone numbers or IP addresses from the UK. 

Reasons for the FCA’s  crypto ban

The FCA had cited the potential harm crypto derivatives pose to retail customers, as well as extreme market volatility and insufficient understanding as reasons for the ban. While the ban seemed to have been coming since late last year, crypto traders in the region have opposed it.  A poll conducted by the FCA revealed that about 97% of individuals disagree with this ban; regardless, the FCA went ahead with it. This crypto ban further supports calls that have been made over the regulation of the booming cryptocurrency industry.

What next for Bybit?

Bybit, formed in 2018 and headquartered in Singapore, are a major key player affected by the ban. Consequently, the crypto exchange organization announced the suspension of its service to UK-based individuals, and that UK citizens would have to close all opened positions. The organization is further expecting UK traders to have withdrawn all of their account balances by 8.00am UTC, 31st March, 2021.

The firm which currently has over 1 million registered clients on its platform is expected to continue its in-roads into other countries following this ban. Late last year, the company established a partnership with German football club, Borussia Dortmund: a multi-year partnership based on mutual brand outreach and marketing. Despite the ban, Bybit’s growing reach should expand, as the digital asset derivative company continue to explore other regions outside of the UK.

Why there’s more to Chainlink’s growth than what meets the eye

After a collective collapse a week ago, the digital asset industry recovered somewhat, before falling once again. However, it would seem that Chainlink missed the memo in the first place. In fact, AMBCrypto had recently reported about LINK’s inability to pull-forward without the assistance of strong on-chain fundamentals. While its long-term credentials remain golden, during […]

Microstrategy Acquires Another $10 Million in Bitcoin, Company Balance Sheet Nears 100K BTC

Microstrategy Acquires Another $10 Million in Bitcoin, Company Balance Sheet Nears 100K BTC

On Friday, the incorporated and publicly listed business intelligence (BI) firm, Microstrategy announced the company has acquired an additional $10 million in bitcoin. The company’s CEO Michael Saylor revealed the latest purchase on Twitter with a link to a Form 8-K Securities and Exchange Commission (SEC) filing registered on March 5, 2021.

Microstrategy’s Bitcoin Buying Spree Continues

Microstrategy continues its bitcoin (BTC) buying spree announcing it bought an additional $10 million worth on Monday. The BI company’s CEO revealed the new acquisition on Friday, March 5, when he tweeted about the latest purchase on Twitter. “Microstrategy has purchased an additional ~205 bitcoins for ~$10.0 million in cash,” Saylor wrote. “At an average price of ~$48,888 per bitcoin,” he explained to his 598,000 Twitter followers.

Saylor added:

As of 3/5/2021, we hodl ~91,064 bitcoins acquired for ~$2.196 billion at an average price of ~$24,119 per bitcoin.

In addition to the tweet, Saylor also left a Microstrategy link that leads to a press release or scanned picture of the Form 8-K SEC filing. Of course, the Bitcoin community looked at the purchase as a positive and many people replied to Saylor’s latest announcement. “Should someone tell him the meme is ‘Stacking sats’ and not ‘Stacking 200 bitcoins?’ the popular Twitter account dubbed ‘Documenting Bitcoin’ wrote.

‘Microstrategy Discovered Bitcoin’s Potential Ahead of the Sleeping Herd’

Other people wrote that Saylor and Microstrategy have already seen the potential Bitcoin has to offer, and they want “to monopolize the bitcoin market.” “He has discovered the potential ahead of the sleeping herd will reap the rewards more,” Yasir Shaikh tweeted in response to Saylor’s $10M in bitcoin purchase statements. “I Believe soon Microstrategy will have as big a market cap as FAANG,” Shaikh added.

Microstrategy currently commands 0.4336% of the entire 21 million bitcoin supply cap and the firm is nearing the 100k BTC milestone. It is the fourth largest entity listed on the web portal behind Grayscale, Mt Gox, and respectively. After the latest Microstrategy purchase some even jokingly said that Saylor and Microstrategy were addicted to purchasing BTC.

First, you start with sats, then you start stacking a full bitcoin and can’t stop,” an individual wrote in response to Saylor’s BTC purchase announcement on Friday morning.

What do you think about Microstrategy’s recent $10 million purchase of bitcoin and the company’s current stash of 91,064 bitcoins? Let us know what you think about this subject in the comments section below.

How Paradox Group Is Helping DeFi

Created in 2018, The Paradox Group is the current number one blockchain advertisement agency in the UK. The purpose of the company is to offer high-quality marketing services, geared towards crypto entrepreneurs and established companies in the crypto and fintech industries. Projects in Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), recent innovations in the crypto sphere, are currently among the top priorities of the Paradox Group.

What is DeFi?

Thanks to smart contract technology, introduced with the release of Ethereum back in 2015, the crypto space flourished with new possibilities and potential applications. Many innovations in financial technology followed, but none can compare with DeFi.

DeFi, also known as decentralized finance, offers the same services as traditional finance. This includes crypto-backed loans, savings through yield farming protocols, or even insurance services. The only difference is that the services are decentralized, meaning there aren’t any banks or financial institutions acting as middlemen. The financial services are provided by decentralized platforms in a transparent and cost-effective manner.

Decentralized exchanges (DEX) are an excellent example for illustrating how DeFi works. Unlike all the major centralized exchanges, which act as intermediaries whenever any crypto asset is bought or sold, in DEX the network is peer-to-peer, meaning that traders buy and sell from each other directly.

Crypto advertisement challenges

Mainstream media occasionally covers crypto, mostly when Bitcoin’s value reaches new all-time highs. But lack of coverage from mainstream media is not the real issue, the problem is that that crypto advertisement is banned from all the major social media platforms Facebook, Twitter, Reddit, Youtube, and mainstream advertising networks like Google Adsense, have all established strict bans on crypto ads.

One of the main reasons for the bans was due to a hectic market that saw many low-quality projects. While the market has since then matured, its past still crippled legitimate crypto projects who now have a harder time receiving the necessary funding to drive the industry forward.

Paradox solves that issue

Paradox’s aim is to bridge this gap in blockchain advertisement, connecting projects in need of marketing with well-established companies in the crypto space. With several successful campaigns in its record, Paradox is the one-stop-shop for DeFi and crypto projects looking to get their name out there

There is a wide range of available services and flexible options. Customers can choose to work directly with Paradox, counting on the expertise and know-how of the team to design tailor-made marketing campaigns, which are sure to offer the best long-term results.

Paradox also has its own marketplace, where it is possible to buy multiple marketing packages and services such as banners, press releases, sponsored articles and reviews, email marketing, and customizable Cost per thousand (CPM) and Cost per click (CPC) options.

Once you choose a product, you can count on advanced tracking software to offer live results. This will be an invaluable tool to allow any tweaks to be made on the spot. There will also be a personal account manager allocated specifically to you to offer support.

Partnerships and client base

These services are provided by many prominent publishers in the crypto space. The list of partnerships is one of the strong points of Paradox and includes major companies such as Cryptocompare, NewsBTC, Bitcoinist, CryptoSlate, CoinGecko, Coinmarketcap, and many others. These publishers are among the biggest in the industry and are responsible for over 100 million monthly impressions.

But if there are still any doubts about Paradox, the quality of its services is perhaps best reflected by its long list of high-profile clients. From DeFi platforms to casinos, exchanges to brokerages, and asset managers, many projects from different fields of Fintech have already used Paradox services. Among its most renowned clients are eToro, Nexo,, and Diginex.

Use Paradox to help grow your DeFi projet

The Paradox Group is constantly networking and looking to expand its list of partnerships and clientele. It has a proven track record, having successfully run thousands of advertisement campaigns, and offers some of the best return on investment and Click-through rates (CTR) in the industry. This makes it the company to look for if you want to take your DeFi project to the next level.

The expertise of the Paradox team and capacity to apply traditional marketing strategies to a newer industry such as crypto, coupled with the quality of its publishers, will surely help your product or service reach the right audience. Register and try out the exposure calculator, which will give you an estimate of how many impressions you can get on your investment.

CoinLoan: A One-Stop Cryptocurrency Powerhouse

[Featured Content]

Cryptocurrencies are growing in popularity as the market has entered a parabolic state, attracting more investors by the day.

This is true for both retail and institutional participants as the interest from both is skyrocketing. As CryptoPotato reported earlier in February, “buy crypto” searches on Google have reached a new all-time high record and it continues to grow.

With the above in mind, CoinLoan is a comprehensive platform that offers a variety of tools targeted at investors, providing them with various capabilities to engage with the cryptocurrency market.

Enhanced Security and Trust

Right off the bat, the digital assets on CoinLoan are stored at one of the most reputable and qualified market custodians – BitGo. They are protected under a $100 million insurance provided by Lloyd’s. In terms of the fiat deposits, they are held at a crypto-friendly Swiss-based bank called InCore Bank.

The platform also boasts a zero-incident track record since its inception back in 2017 as it has never been breached. CoinLoan operates in accordance with the regulatory requirements – it holds licenses for digital and fiat assets that are supervised by the Financial Intelligence Unit of Estonia. It’s worth noting that the platform was able to renew its financial licenses with ease, despite the fact that Estonia revoked as many as 500 licenses for cryptocurrency-related companies.

Striving to always one-up its security, CoinLoan also runs a bug bounty program for security researchers for more than a year, providing incentives to ethical hackers for finding vulnerabilities on the platform.

Some of CoinLoan’s Products

CoinLoan is not an exchange or a custodian – it delivers a comprehensive set of products that are aimed at making the cryptocurrency journey of the investor entirely fulfilled.

With this said, some of the products offered by the company include the following.


Interest Accounts

With the notion of negative interest rates looming over traditional financial markets, cryptocurrency-based interest-yielding accounts are booming in popularity as investors seek ways to protect their capital.

CoinLoan offers interest accounts that enable investors to compound their yields by storing assets. The loans are funded with assets acquired at the interest accounts.

The interest is accrued daily and is paid out monthly as there are no lockups and users can withdraw their assets at any time for their convenience. The supported cryptocurrencies are also plenty and include ETH, BTC, EUR, XRP, XMR, USDT, USDC, TUSD, and so forth.

There are no deposit or withdrawal fees when it comes to cryptocurrencies and fiat, meaning you can withdraw the earnings without having to pay anything. The standard earning rate for stablecoins, British pound, and euro is 10.3% APY while for cryptocurrencies like BTC it’s about 5.2% APY. It’s also possible to increase this rate by as much as 2% with CLT staking.

Crypto Loans

This is another very popular endeavor in the cryptocurrency field as crypto-backed loans provide traders and investors with additional means of increasing their exposure without having to convert their digital assets in fiat.

CoinLoan has a maximum loan-to-value (LTV) ratio of 70% which is more compared to some of the competitors. The annual interest rates start at 4.95% but when borrowing at a lower LTV ratio, it can go up to 11.95% (at the maximum LTV ratio).

The minimum loan period is seven days while the maximum one is set to three years. Borrowers can also repay early without having to worry about any penalties and they would only have to pay the interest for the period of usage. It’s also worth noting that loans can be repaid with different assets. For example, a loan in EUR can be repaid using BTC.

Cryptocurrency Exchange

This particular service allows anyone to buy, sell, and trade cryptocurrencies with a single click. There are plenty of different cryptocurrencies that are supported at good exchange rates. The execution is instant while the workflow is both simple and convenient.

This is an important tool in the ecosystem because it’s critical to have the ability to navigate within the dynamic market and respond to fluctuations.

All in all, CoinLoan provides a very convenient experience for anyone who wants to get involved with the cryptocurrency market through a variety of means. They support many assets, offer fast and friendly customer support, while also offering their platform on every device – it’s available for Web, iOS, and Android.

Breaking: Bitcoin Mining Firm Cipher Set to Go Public at $2 Billion Valuation With SPAC Merger


Cipher Mining, a bitcoin mining subsidiary of mining hardware manufacturer Bitfury is all set to go public with a $2 billion valuation. The firm would merge with Special Purpose Acquisition Company (SPAC) Good Works Acquisition Corp for its public listing. SPACs have become quite a rage over the past year and crypto companies seem to be taking the same route for their public listing instead of direct listing.

The merger and subsequent listing are expected to commence by the second quarter of 2021 making it the second crypto company after Bakkt to go public via the SPAC merger. J.P. Morgan Securities LLC is serving as the exclusive advisor and lead placement agent to Good Works, and Wells Fargo Securities, LLC is serving as lead financial advisor to Cipher Mining.

Good Works Co-Chairman Doug Wurth said,

“We were attracted to Cipher Mining as we believe the Bitcoin mining space represents a compelling way to gain risk-adjusted exposure to the growing crypto ecosystem,”

Cipher Mining Would Become the Largest Bitcoin Mining Firm in the US

Cipher Mining with an estimated valuation of $2 billion would become the largest bitcoin mining company in the US with a potential capacity of 745MW (Megawatts).  The CEO of Cipher Tyler Page believes the US could become the Bitcoin mining hub as it offers low-cost reliable power and a stable and secure regulatory and corporate environment. Page said,

The combination of various factors positions the US to become the leading Bitcoin miner and also enables future vertical integration opportunities across the Bitcoin ecosystem,

The recent crackdown on Bitcoin mining farms in China which is currently the epic center of Bitcoin and cryptocurrency mining could also help the US Bitcoin mining market to grow further and subsequently decentralize the mining operations concentrated in China. Many other nations including Iran, Kazakstan, and few others with abundant clean energy supply are working towards favorable regulations for Bitcoin mining to lure more companies.

The post Breaking: Bitcoin Mining Firm Cipher Set to Go Public at $2 Billion Valuation With SPAC Merger appeared first on Coingape.

Ternoa Democratizes The Blockchain and Revolutionizes NFTs

The text below is an advertorial article that was not written by journalists. Even though blockchain technology is becoming more and more popular worldwide, a true understanding of its complexity is not yet within everybody’s reach. Still misunderstood and often denigrated in the mainstream media, deciphering the technology requires time, personal investment and knowledge of how

Cover Protocol Slides 40% Following Breakup with Yearn Finance (YFI)

Yearn Finance (YFI) and Cover Protocol (COVER) announced today that the merger process between both, initiated last November, will come to an end. The breakup between both has resulted in a big hit for the price of COVER.

Yearn Finance Breaks up With Cover Protocol

In November 2020, Yearn Finance’s founder and arguably one of the most influential figures in the field of decentralized finance (DeFi) announced that they will join forces with the market coverage provider Cover Protocol.

Today, however, the team announced its decision to end the merger process.

We have decided to end the previously announced merger process of Yearn and Cover. Both protocols will continue to operate independently. yVault depositors who have previously purchased Cover protection are unaffected by this.

In a now-deleted tweet, Cronje remarked that “this was very sad to see. I had very high regard, trust, and faith in the Cover team. Lesson learned. Won’t trust them again.”

Shortly after that, however, he removed it and said the following:

On the other side, the team behind Cover Protocol hasn’t provided any commentary on the matter at the time of this writing. They just said that they’ve “parted ways with Yearn” while clarifying that users can still buy Yearn coverage on Cover Protocol.

COVER Price Tanks as a Result

COVER’s price has been on an impressive run in 2021 as its price increased from around $380 at the start of the year to an all-time high of around $1,700 about two weeks ago. Since then, it’s been mainly down hill.

Nevertheless, the news of the ‘divorce’ definitely took a toll on COVER’s dollar value. The cryptocurrency is currently down about 40% at the time of this writing.

COVER/BUSD. Source: TradingView

Microstrategy Now Hodls 91,064 Bitcoins at $24,119 Per BTC

Microstrategy Now Hodls 91,064 Bitcoins at $24,119 Per BTC 4

In summary:

  • Microstrategy has purchased 205 additional Bitcoin for $100 million bought at $48,888 each
  • The company now holds 91,064 Bitcoin at an average entry of $24,119
  • The $47k Bitcoin price area is a level of macro support that has seen the movement of 500k BTC
  • If Bitcoin fails to hold $47k, chances are that $42k is next

The software company of Microstrategy has purchased an additional 205 Bitcoins for roughly $100 million. Each BTC was purchased at an average value of $48,888 bringing the total of Bitcoin owned by Microstrategy to 91,064 BTC.

The CEO of Microstrategy, Michale Saylor, made the announcement of the recent purchase via Twitter and also added that the average entry of the 91,064 Bitcoin is approximately $24,119 per BTC.

Institutions Continue to Accumulate Bitcoin around the $47k – $48k Price Area

Microstrategy announcing the purchase of 205 additional Bitcoins comes less than 48 hours after the CEO of CryptoQuant, Ki Young Ju, identified massive institutional buying around the $48k price area. According to Mr. Ju, whales are purchasing Bitcoin at this level via Coinbase and eventually sending them to cold storage. He explained:

Whales accumulating $BTC. They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k. Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price.

The Co-Founder and CTO at Glassnode, Rafael Schultze-Kraft, made a similar observation surrounding the $47k price area. According to his analysis, over 500k Bitcoin has been transacted at around $47k thus proving that this price area is a crucial one. He also cautioned that failure by Bitcoin bulls in defending this area will ultimately result in a dip to the next logical support of $42k. He shared his analysis via the following statement.

Very strong on-chain support at $47k – around 500,000 $BTC have been moved at that level. Imo important that we hold it, otherwise we could see low forties quickly before the next upwards movements.

Microstrategy Now Hodls 91,064 Bitcoins at $24,119 Per BTC 3

GameStop tale exposes regulatory paternalism and DeFi’s true value

GameStop brings forward the prospect of a paradigm shift that challenges existing regulations: decentralization.

Though seemingly coming from nowhere for many, the themes behind the Reddit-fueled r/Wallstreetbets pump of GameStop feel familiar. Watching it unfold, I tried to figure out just why it had captured my interest to such a degree, and, to me, it was a spillover into the traditional markets of some pervasive themes driving crypto.

Despite some competition in the narrative, I view the motivating force — and by it, I mean the social media-fueled spread of the message that drew enough widespread interest to have an impact in the market — behind the GME pump as analogous with what, at one point, was an impetus behind Bitcoin (BTC). It is a driver for (depending on your level of cynicism) the crypto markets more broadly and the decentralized finance movement — a desire for the “democratization of finance.” Behind that movement is the view that finance and financial products should be open-sourced, accessible to all, as opposed to hinging on whether you are an accredited (read: high-net-worth) or an institutional player.

Related: Time to shine? Crypto should be given a chance after GameStop drama

Accredited investor rules, long the subject of critique, were recently expanded in 2020. Far short of a revolution, the amendment allowed additional classes of investors with certain financial credentials, like a Series 7 and knowledgeable employees of PE funds, to meet the definition among other changes that did not amount to anything meaningful. See the Securities and Exchange Commission’s press release describing the recent amendments to the definition.

There was a folkloric element to the narrative, a David and Goliath tale of sorts, where the everyday man was able to pull off a coup in inspiring a sizable crowdfunded movement in the market. Yet, while it evoked some degree of euphoria, the episode also brings to the forefront some of the simmering underlying tensions in U.S. society, including a strong sense of paternalism toward the poor, in this case, the retail investor, and mounting generational tensions.

Related: GameStop saga reveals legacy finance is rigged, and DeFi is the answer

The regulatory paternalism

In the United States, as a somewhat toxic offshoot of self-determination, there is the underlying bias or presupposition that those who are wealthy became so because of their personal attributes and, likewise, those who are poor will remain poor as a result of some personal failing on their part. Outside the academic setting, policy toward retail hasn’t reflected much exploration into the social and economic factors that allow people to accumulate wealth and the feeling that “the game is rigged” through increasing barriers to achieving upward mobility in the United States.

This manifests itself in regulatory paternalism, the government imposing limitations on who it deems able to afford to make investments or has access to certain financial products. Most visibly, this has left those who are non-accredited without access to early-stage investments. Many have argued that the wealth test systematically disenfranchises any and all investors capable of understanding risk despite their income level, making an argument that I agree with, that “being wealthy is no proxy for financial sophistication.”

But at the same time, this allows access to casinos and lottery tickets, payday loans and other predatory financial instruments, such as reverse mortgages, presumably where a competing interest, such as state budgetary shortfalls or effective lobbying on the part of industry, won out.

What you end up with is a system that seems engineered to reinforce class-based barriers — where the wealthy get to shape law and dictate the narrative as well. This is most starkly evidenced by the Melvin Capital sympathetic content that ran on CNBC portraying the hedge funds as the protagonists, leveraging the dogmatic network-wide belief system that, somehow, Melvin’s actions were good for society and universally just.

This was juxtaposed against a characterization of the Redditors as huddled, unwashed masses who, through chaos and destruction, embarked like lemmings on a path toward personal financial ruin and created a situation where there was some sort of systemic risk created by touting a random low volume stock. Not to put too fine a point on it, but while rich people lost some money here, among others, it is not exactly the financial apocalypse it was portrayed to be.

To me, putting aside the unending joy of having mainstream finance publications quote Reddit netizens like u/DadBod39 and prompting untold memes around Robinhood changing its name to Prince John’s Trading or RobingtheHood, this episode in the stock market captured my attention by highlighting the above-described tension, as well as a generational shift to social-media-based messaging, where the internet can be leveraged widely to produce decentralized market forces.

A paradigm shift

Fueled by (semi)-anonymous decentralized actors, this episode brings forward one of my core fascinations with crypto: the prospect of a paradigm shift that challenges existing regulations. Much like the regulatory challenges applicable to decentralized finance, how do you address a movement of the masses when law presupposes there is a central figure with more culpability than Keith Gill, to which you can attach liability? Addressing this poses a conundrum, as regulators are increasingly faced with cutting heads off hydras with the prospect of more growing back.

Most recently, the House Committee on Financial Services had a post-mortem hearing on GameStop and the surrounding market volatility, and while I always go into these with the lowest of expectations, I come out each time with a sense of renewed nihilism and hopelessness. While the recent House hearing on Feb. 18, 2021, provided an opportunity for a rehashing of the r/Wallstreetbets pump from those with a first-row view of the events that transpired and gave legislators the opportunity to saber rattle and virtue signal to their respective constituents, there were no clear signs of a path forward.

Related: Twitter, GameStop… enough! The world needs true decentralization

There was a cursory discussion of the merits of reducing settlement time (and yes, blockchain), the downsides of relying on high-growth fintech startups to provide market infrastructure type services, and the balancing act, as Sean Casten put it, of trying to democratize finance while not “being a conduit to feed fish to sharks.”

It was also an opportunity for legislators to play “who can be the most tone-deaf to the underlying market incentives” that fuel today’s ad tech and surveillance-driven economy, questioning whether this was indeed a free service for consumers — in this case, retail investors (breaking news, it isn’t) while remaining a for-profit institution. One House member asked if Robinhood would stop the practice of earning revenue by allowing Citadel to “pay for order flow” and allowing for the institutional players to front-run retail, pointing out that the practices that Robinhood engages in are legal, with disclosure, and certainly not unique, and are used by Fidelity, E-Trade, Charles Schwab and TD Ameritrade, among others, according to SEC Rule 606 disclosures. The answer was clearly and universally no, or, as Casten, cited earlier, put it: “There is a tension in [Robinhood’s] business model.”

This is the same legislature that has stalled in an attempt to stem consumer data from being bought and sold as a business model, thereby achieving peak-level hypocrisy in the triple threat of: (1) allowing the monetization of violations of privacy and somehow both; (2) blaming free-market actors for making money off acts that are legal; and (3) also suggesting at times that regulation was the cause of the harm that was done.

In a particularly depressing segment of the hearing, Robinhood was all at once villainized for not providing the committee with disclosure forms that are publicly available; for not foreseeing a tenfold spike in the capital it would need; and for taking emergency steps to meet capital requirements, which involved some degree of discretion in how to address but not as much as House members insinuated.

Others suggested that Robinhood should be responsible for the relative gains in its users’ portfolios, and still, others decried that there were capital requirements for Robinhood in the first place, suggesting that regulations were the root cause of the capital crunch. Altogether, the hearing left no discernable path forward except that we should expect more hearings.

In all, the fallout continues, with a couple of indications that there is certainly more to come. Maxine Waters has stated that regulators will be present to testify at additional hearings of the House Financial Services Committee, and class actions have been filed naming Keith Gill.

I view this as likely a beginning rather than a one-off, where we can look forward to additional skirmishes breaking out with increasing frequency as well as corresponding pressure on regulators to address them. Though I am not hopeful there will be any more movement in the accredited investor definition, maybe it is an opportunity for market regulators to reexamine underlying regulatory bias, as this has shone a spotlight on the need to create new opportunities for younger generations to build wealth.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Sarah H. Brennan is counsel and leader of the digital assets and disruptive technologies practice at Harter Secrest & Emery LLP. Sarah has a broad range of experience in corporate and transactional matters. She focuses primarily on corporate and securities law, representing public and private companies, venture capital and private equity firms, investors, and clients in every stage of the corporate life cycle.

Ethereum Price Analysis: 05 March

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice There were some clues from a dropping Open Interest that Ethereum could see a short-term correction back under the $1600-level. Subsequently, ETH dipped below the $1580-mark and retested it as resistance, before falling even […]

Ethereum Price Analysis: 05 March

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice There were some clues from a dropping Open Interest that Ethereum could see a short-term correction back under the $1600-level. Subsequently, ETH dipped below the $1580-mark and retested it as resistance, before falling even […]

No more ‘Bitcoin effect’? MicroStrategy stock falls by 50% in 17 days

The excitement around Bitcoin has spilled over beyond spot price, data shows, with MSTR going from above $1,300 to $629 in just 17 days.

The Bitcoin (BTC) price correction isn't just hurting individual hodlers — the biggest players are suffering in more ways than one.

Data from markets on March 5 revealed that MicroStrategy, which owns over 91,000 BTC, has seen its stock price dive by more than half in just three weeks.

MicroStrategy keeps buying BTC

On the day that the company confirmed that it had added another 210 BTC to its reserves at a cost of $10 million, MicroStrategy's stock hit local lows of $628. At its peak in February, MSTR traded at just over $1,300.

The volatility is a commentary on the ups and downs of Bitcoin in its latest bull run, which has been characterized by wild swings in both directions.

$MSTR (red) vs. BTC/USD (blue) chart. Source: Tradingview

Since beginning to add Bitcoin to its balance sheet in August last year, however, the overall impact on MSTR remains transformative. Prior to the move, it barely traded above $100.

"They now hold 91,064 bitcoin on their balance sheet," Morgan Creek Digital co-founder Anthony Pompliano commented on the latest buy.

"This may be one of the greatest displays of conviction in public market history."

Hayes: Bond resurgence could make investors "exit Bitcoin"

That "conviction" may serve the company well far beyond the short term as Bitcoin's bull cycle is being challenged by macroeconomic headwinds

For Arthur Hayes, former CEO of derivatives giant BitMEX, central bank policy could, in extreme circumstances, cause capital to drain from cryptocurrency altogether. 

The reason, he explained in a new blog post this week, is that the Federal Reserve could choose to hike rates, causing pain for investors across the board, but also see periods of record low rates, creating a swell of volatility.

"I do not have a model for an estimate of the ratio between the two, but at a high level if global fiat liquidity can earn a real return again in government bonds, it will exit Bitcoin / crypto," he wrote.

"The whole point of this exercise is to preserve / grow purchasing power against energy. If that can be done in the most liquid asset, government bonds, then liquidity will take the easy option."

Should such an event occur in the future, Bitcoin would be more dependent on its technological premise, something which Hayes believes will be decidedly underwhelming without the big money on board.

"The amount of remaining technological value is beyond my skills to estimate," he warned.

"However, it is much lower than the current fiat price of Bitcoin today."
Arthur Hayes' anti-inflation options chart. Source: David Venturi/ Twitter

To counteract the risk, investors should take advantage of both cryptocurrency's unparalleled potential and future rate volatility.

XRP ledger that supports CBDC coming soon

TL;DR Breakdown

  • Central Banks could leverage Ripple’s XRP ledge interoperability.
  • CBDCs continue to gain worldwide acclamation.
  • Ripple undeterred despite legal battle with U.S. SEC.

With the world edging closer to the creation and adoption of central banks digital Currencies (CBDC), the Ripple team have announced that it is on course to introduce an XRP ledger that will support CBDC. This announcement is coming on the back of an ongoing legal battle between Ripple and the United States Securities and Exchange Commission (SEC).

Brad Garlinghouse, Ripples’ CEO, had previously stated last year that the interoperability feature of the XRP puts the cryptocurrency at an advantage compared with developing CBDCs. He had said in his statement that the CBDCs wouldn’t be a threat to Ripples’ cross border payment system.

The Development of CBDCs

While several nations’ central banks have been making strides towards CBDCs, it appears that the People’s Bank of China (PBoC) currently leads the way. The PBoC digital Yuan has already entered its trial stages as the central bank continues to distribute it to different Provinces, with the latest being Chengdu.

It has been suggested by many calling for worldwide crypto regulation that the introduction of these currencies will assist in this regulation. Thus, many central banks around the world continue to intensify their efforts towards CBDC actualization.

Ripples’ XRP Ledger and CBDCs

However, Ripple has raised concerns over the interoperability of these developing digital currencies. They have suggested the need for open bridges which would be available to optimize the digital assets as regards cost, speed and scalability.

Open bridges would help release capital and support value transfers between digital currencies of different nations, according to Ripple. As such, the crypto giants have proposed the XRP as ideal for bridging national digital currencies.

It is upon this information that Ripple seek to introduce an XRP ledger fully focused on CBDC, in order to provide national central banks with a controlled, secure and flexible solution that will enable them to effectively issue and manage their digital currencies. 

Zcash Price Prediction 2021 – 2025

There are countless cryptocurrencies in existence, according to a report, over a thousand. Given the fact that the first, Bitcoin, made its code an open-source one, all the rest had to do was just copy and adapt as they liked.

The proliferation of cryptocurrencies means they all don’t get the same publicity. There are even those that get no publicity at all. The common ones are usually those with the highest value or market cap, like Bitcoin, Ethereum, Tether, XRP, Litecoin, etc. Or the ones that have been hyped by the internet, such as Dogecoin. 

But there are cryptocurrencies that are making good returns for their investors without generating so much noise. An example of such a digital asset is Zcash or ZEC. This digital asset is a lot like Bitcoin and has a lot of potential too.

Determining its potential is not easy, and if you are planning to invest in Zcash, that’s something you will want to know. Fortunately, we have examined the digital asset using experts’ opinions and analysis. Here, we discuss the future prices of Zcash and if it is worth investing in.

What is Zcash?

Zcash is not your popular digital asset, and unless you are looking for it, you are unlikely to come across a piece of news about its price. That is why it is necessary to explain what it is all about before we start examining its price prediction.

ZEC coin was introduced as a digital currency with its first mining in October 2016. But development started as far back as 2013. It was led by Matthew Green, the John Hopkins professor, along with some graduate students. Later on, the Zcash Company, led by Zooko Wilcox, will complete the work with over $3 million raised from venture capitalists.

The initial hype surrounding the digital asset was very high. Within a week of its first mining, a token was already worth $5000. Zcash was developed using Bitcoin codebase, so it is not surprising that it is similar to bitcoin in many ways. For example, it has a maximum supply of 21 million tokens too.

However, what Zcash uses as a unique selling point is the anonymity of transactions. According to the creators, the privacy of transactions on Zcash is exceptional. While it also posts transaction data on a public blockchain, there is an option for confidentiality.

This option comes in the form of a shielded transaction that makes it possible to have financial privacy. It integrates Zero knowledge proof, a feature that makes it possible to verify transactions without knowing how much is sent, the recipient, or the sender. This feature is an optional one as transparent transactions are also very possible. It is also possible to have selective disclosure where a user can determine which of the transaction details they wish to make public or share.

The Zcash Company changed its name to Electric Coin Company in 2019. It did this, claiming its official name has always been Zerocoin Electric Coin Company which will now be known as ECC.

Although the creators have said the privacy features of the currency are not designed for illegal activities, the privacy features continue to be investigated. In a paper titled Alt-Coin Traceability and released in May 2020, it remains questionable if Zcash is as private as it claims to be. Recently, ECC announced plans to donate all the company shares to a non-profit organization known as the Bootstrap Project.

According to the creators, Zcash is built on rigorous science. The tokens fall into either the shielded pool or transparent pool. Observations show that most users do not make use of the privacy options available on the network. It is why it is regarded as the privacy coin.

ZEC addresses are of two types – the T-addresses and the Z-addresses. The T-addresses are transparent, while the Z-addresses are private. Beyond the privacy of Zcash, another significant feature is its fast transactions that attract very low fees.

Now that you have a concrete idea of what Zcash is all about, it is time to dive into the price, from price history to price prediction.

Price History

When Zcash was first launched in 2016, it garnered attention which worked in its favour. Within the first few weeks, it reached an incredibly high price of around $6000. But this didn’t last long. It later came down drastically to stabilize at between $40 to $70. The price of Zcash has always been fluctuating; for instance, it was worth about $900 in 2018.

Coinmarketcap rates ZEC as the 35th most valuable cryptocurrency by market cap. However, its fluctuations and, most importantly, the slump from thousands to below hundred is worth looking into. 

To understand the price history of Zcash coin, it is necessary to understand the factors that influence the increase in the value of cryptocurrencies. Generally, the excitement of its launch and similarities with Bitcoin must have helped it during its launch to achieve the incredibly high value.

After that, the token would have a quiet year till May 2017. This was the year the developers partnered with JP Morgan to introduce Zcash privacy technology to the JP Morgan blockchain platform. The partnership led to a spike in price, with Zcash trading for about $400 by June of that year. Its market value also increased, and it entered the top ten cryptocurrencies by market capitalization. The price later returned to its regular value below a hundred.

In 2018, the price increased again thanks to the crypto boom that started in late 2017. The price increased to about $900, but this didn’t last long. With the end of the crypto boom also came a fall in value for the currency. In June 2018, it rose above $100 again.

It took until February 2020 for the price to increase again, thanks to the efforts of crypto bulls. By August, it has managed to cross the $100 mark once again. It will later drop in value but was able to maintain stability at a level above its previous lows. 

Throughout this period, the ZEC protocol has improved tremendously. However, its first halving in 2020 has a significant effect on the price, just like it does with other cryptocurrencies.

Now that we have an overview of what the price has been in the past years, it is time to look at what it would be worth in the coming years.

Zcash price prediction 2021

Khani predicts Zcash Possible targets for 2021

TARGET1: $220
TARGET2: $350
TARGET3: $680
TARGET4: 2190

We can see that the stoploss is dynamic. If the price falls below the stoploss line, it should be exit due to the formation of a wedge pattern.

Zcash Price Prediction 2021 - 2025 1
ZCASH Possible targets for 2021 Trading View

The one quality that almost all cryptocurrencies have in common is their volatility. It is why retail investors get involved hoping to make some massive gains. It is also why institutional investors shun them. But most importantly, it is why predicting the future value is tricky.

Doing so requires technical analysis and studying market trends, but sometimes, that isn’t enough. There are just so many variables involved. For instance, no one knew that Doge would reach the new highs it has managed to reach simply because no one could have predicted that Elon Musk will encourage people to buy Dogecoin. 

That said, the best way to determine the future price of a cryptocurrency is to examine different expert opinions on its price. Using these, it is easy to have a general outlook of how things will turn out. This is what we do here.

Currently, the price of Zcash is $170.86, which is contrary to the opinion of many prediction platforms. For example, Wallet Investor predicts that the price at the end of the year would be $55.304. This would mean a massive drop in price.

Zcash Price Prediction 2021 - 2025 2

It is not only WalletInvestor that has this pessimistic view. DigitalCoinPrice also shares the same outlook. In its opinion, ZEC price will not increase in 2021, and it could sink to as low as $7.36. It, however, predicts that it bounces back to reach above $50 before settling in the $30 to $40 range for the year.

Zcash Price Prediction 2021 - 2025 3 also expects ZEC price to drop to $57 this year.

Zcash Price Prediction 2021 - 2025 4

Looking at all these predictions, it appears that analysts have a particularly bearish. This shows how the volatility of the market can make the price predictions to be very inaccurate. 

Since the time when these predictions were made, a lot of factors have come to play, leading to the price of Zcash increasing gradually. It has now crossed the $100 and $150 mark, inching closer to $200. With these changes, many crypto price prediction sites have changed their forecasts.

For instance, DigitalCoinPrice now expects that Zcash will keep rising and should cross the $200 mark by April 2021. It expects that it will remain above $200 till October and will peak at $235.99 in September. However, it predicts a drop towards the end of the year, with a forecast of Zcash finishing the year at $194.23.

However, WalletInvestor does not appear to share the optimism. It remains stuck on poor performance for Zcash in 2021. According to its new predictions, the digital asset price will be much lower than its current price for most of the year.

Even though it predicts that Zcash will peak at $282.58 by October 2021, this is merely a massive fluctuation in price. It expects it to drop to below $100 by the middle of the number. All these are, however, average prices.

On the maximum price level, it predicts that Zcash will pass the $500. But don’t get too excited; the minimum price is predicted to be $0.000001 with a peak at $25.377.

While WalletInvestor might be playing the devil’s advocate, there are others who have a more optimistic view. Previsioni Bitcoin, crypto platform has a very positive outlook for Zcash despite the poor performance in recent years.

Zcash Price Prediction 2021 - 2025 5

According to its predictions, Bitcoin will reach $566.035 by December. This predicted growth is widely optimistic when one considers how static ZEC price prices have been in recent years. But it is the crypto market, after all, and anything could happen.

Previsioni predicts that the price of Zcash from July to September would be around $284.075, and it will continue to increase till it achieves over $500 in December, making it more than double in value.

Another Zcash prediction is that of Long Forecast, which believes that Zcash could be worth as much as $350 by the end of the year. Apart from February, where it predicts that ZEC price could fall to $85, the outlook for every other month is bullish.

It predicts Zcash coin to hit $300 as early as April. However, it will be within the $200 to $280 range for most of the year before crossing the $300 mark again in October and finishing the year on a high note.

Thus, the highest projeted price for 2021 is $350 but it could go as low as $7.36 too.

Zcash price Predictions 2022 to 2025

Beyond 2021, the long-term prediction of Zcash also gives insights into whether it is a worthwhile investment vehicle. 

DigitalCoinPrice predicted a poor outlook for Zcash back in November 2020. According to its prediction, Zcash could crash to as low as -$3.62 by May 2023. However, it has changed its tune for a more positive one following the encouraging performances.

Its update Zcash price prediction forecasts the average price of ZEC to be $257.39 in 2022, $299.75 in 2023, $274.24 in 2024, and $428.81 in 2025. The most notable thing about this prediction is how it is overwhelmingly positive, with climbs throughout except in 2024. Even the drop in 2024 is followed by a powerful rise in value by 2025.

This gives investors the optimism and confidence they need to put their money into the Zcash. Even though predictions are not always accurate, this one suggests that the price will not crash in the next five years.

Trading Beasts also have a similar although less positive outlook. It predicts that the price of Zcash in 2024 would be around $234.1 at its peak. This prediction was made when Zcash was worth $142.53, and even then, the average prices were disappointing.

 It predicts an average price of $159.1 in 2024. When one compares that with the current price above $170, it is a drop. Making the outlook to be negative in the long run.

A more optimistic outlook is that of Coinliker. The platform is known for its optimistic predictions, and it does the same for Zcash. It predicts the price to peak at $252.86 between 2021 and 2022, $424.29 between 2022 and 2023, and $921.43 by 2025.

It has explained that its price prediction is not a wild assumption but based on the unique algorithmic analysis. In their opinion, the increased adoption and technological developments would be the two major factors that will push the price.

If this happens, Zcash would see a level of unprecedented growth unlike any before. This would, of course, benefit investors who will appreciate a change from the slow movements of the price. 

It also predicts that the cryptocurrency would perform excellently as a long-term investment. According to its data, ZEC prices could hit $231 by December 2021, peak at $320 in 2022, and by 2025, achieve an average price of $650.

Other platforms have also made predictions on the likely price of Zcash in the next few years. The one thing they all seem to have in common is that they are positive. Even WalletInvestor predicts that Zcash would be worth $361 by 2025. 

For 2023, Previsioni Bitcoin believes Zcash would be worth $592.70, and Cryptoground predicts a whopping $1358.81. The only negative outlook is that of Long Forecast, which predicts that Zcash would drop to $90 by 2023.

Judging by all these price predictions, there is a generally positive forecast as to the performance of Zcash in the coming years.

Technical Analysis of Zcash price

Having a precise outlook of what Zcash could be worth in the future is important for investors. To do this, it is not enough to just look ahead; it is important to look behind and around too.

At present, Zcash is enjoying one of its best price forms in a long time. It has reached $190 before dropping to $171 and has been able to withstand going below the $100 mark. Not dropping below $100 is essential for the currency if it wishes to build on its recent gains.

For a token that launched at over $2000, Zcash has been very disappointing for a while now. When it entered the market, investors were very excited about it, and it shows in its value at that time. For some moments in October 2016, it was the most valuable cryptocurrency.

Whether it will ever reach those heights again, remain very questionable, but its current run is worth watching. Many believe that this price form is motivated by the crypto bull run. While this is true, Zcash is a late beneficiary in that run.

Several other cryptocurrencies have been enjoying the perks since late 2020, but it took the new year for Zcash to catch up with the trend. No one knows how long this will sustain, but one thing looks certain, Zcash stands to benefit a lot more if the bull run should continue.

Factors influencing Zcash Price

Volatility is a dominant feature of digital assets. However, this volatility doesn’t just happen; it is motivated by certain variables. Identifying and observing these variables will help in predicting the prices.

The factors could be external or internal. For Zcash, here the factors motivating its prices

Demand and Supply

Nothing affects any market, like demand and supply. For a digital asset like Zcash with limited supply, the effect is more visible. These two factors work hand in hand to determine the worth of Zcash.

However, demand and supply too are influenced by other factors. Thus, it can be seen as an overarching factor. It is important to study and pay attention to demand and supply, especially when you are investing.

When there are more people looking to buy than sell, the price will definitely go up and vice versa. Ironically, the higher the price goes, the more interested people are in buying, and the more people want to hold.

Investor Confidence and Social Buzz

The public or media attention on a crypto asset usually affects its price. An easy way of seeing this is with Dogecoin, which increased in value solely on the back of internet mentions and tweets. 

The logical explanation for this is that the more people talking about it, the more people are interested. Cryptocurrencies have thrived on social buzz, which investors interest and confidence.

Zcash’s entry into the market represents a textbook example of this. The expectations and excitement were incredibly high. In the end, it influenced the price massively.


Halving is a phenomenon that applies to cryptocurrencies that are mined. It means that every four years, the reward for mining would be slashed by half. This is a way to control inflation and the total units in circulation.

The first halving for Zcash happened in November 2020. Generally, halving leads to an increase in price as the supply will decrease. This has happened with Bitcoin on multiple occasions.

With Zcash’s first halving, it also experienced something similar as the price increased from $61.50 to $76.39 between November 9 and 23.

Technological Improvements

Another factor that influences the price is the updates of the underlying technology for the cryptocurrency. It has been observed that even the mere announcement of future updates could drive the price up.


Closely related to social buzz is adoption. One of the factors that have continued to increase the price of Bitcoin is its adoption. As more investors, especially institutional ones, get involved, the price goes up.

This doesn’t just touch on the increase in demand but also the increased confidence that many investors will get from such adoption. Those who are not already invested too will want to get involved to avoid missing out.

Zcash: To invest or not to invest?

The decision to buy Zcash is a personal one that predictions and data will only help you with it. On a short-term projection, investing in Zcash looks tricky. This is because price predictions are not uniform.

While some believe it will increase, others think it is a bad short-term investment. 

However, the opinions on long-term investment are quite uniform. Almost every prediction platform, including WalletInvestor, expects an increase in price in two to five years. The predictions are already fully explained above, and you can study them to make your decision.

If you choose to invest, there are lots of crypto exchange platforms that list Zcash.

Final thoughts

Price predictions are a good place to start when investing, but it is important to know that the market can change anytime. The volatility of the market means it is important to stay up to date if you’re planning to invest.

In the end, it all boils down to taking calculated risks. You can study the forces that influence prices and study the market before making the final decision.

‘Better as friends’: DeFi protocols Yearn and Cover announce cessation of merger

The relationship is "c-over" between Yearn Finance and Cover, an emotional split related to a new protocol from Cover developers.

Decentralized finance (DeFi) protocols Yearn Finance and Cover have announced today the end of a protocol merger process initiated in November last year. 

The two protocols were initially linked during a spree of a half-dozen Yearn acquisitions, mergers, or collaborations, the exact term depending on the project. The split comes as a surprise to many, given that Cover, a protocol that provides coverage or insurance for DeFi deposits, was a natural fit for yield vault provider Yearn. The teams had also collaborated in crisis situations in the past, such as when Cover experienced an “infinite mint” hack in late December 2020.

Following the hack of Yearn’s DAI vault earlier this month the team also announced that coverage from Cover would become standard across all vaults. According to Cover core contributor “DeFi Ted”, Yearn will now be moving forward independently with their own insurance offering. 

Both teams confirmed that users can continue to purchase coverage for Yearn deposits, and that current coverage will be unaffected.

Comments from both teams indicate that the cessation was an emotional, potentially snap decision — one rooted in potential conflicts of interest related to Cover’s new protocol, Ruler.

Emotional responses

In a since-deleted Tweet, Yearn founder Andre Cronje weighed in in the split, portraying it as a breach of trust:

“Personally, this was very sad to see. I had very high regard, trust, and faith in the Cover team. Lesson learned. Wont trust them again.” 

He’s since followed up with another, similarly cryptic Tweet: 

DeFi Ted told Cointelegraph that the two teams had recently met to discuss providing coverage for Yearn’s vaults, and the Yearn representatives reached out shortly after to reveal they would be building their own insurance/coverage offering. 

Ted added he was personally “a bit blind sided” by the decision, which he says was given with four hours notice prior to the Yearn announcement on Twitter. On official social channels Cover team members characterized the split as a “difference of opinion,” and likened it to a romantic relationship in which both parties discover that they’re “better as friends.”

“Honestly feel a little lost right now sir,” said Ted.

A core Yearn operations contributor declined to comment.

Can’t fork and be friends

Some community members have speculated that Yearn’s decision is related to the launch of Ruler Protocol, a lending solution from core Cover contributors that kicked off a liquidity mining program this week. The Yearn ecosystem already includes one lending platform, CREAM Finance, and core contributor “banteg” has hinted on Twitter that the team isn’t appreciative of competitive overlap from collaborating teams:

Ted confirmed to Cointelegraph that the split is related to Ruler, but said that there’s “no conflict” between the various protocols, and instead that there was concern from Yearn about the Cover team “running two projects.” 

“In fact, we have a great relationship with Leo and CREAM, don't be surprised to see us do something with them,” he said.

The price for Cover’s native governance token, $COVER, has plummeted on the news, down 35% to $605 at the time of publication.

Nonetheless, Ted and other team members say they remain resolute in building, and that the split is just another chapter in what has been a tumultuous history featuring multiple forks and re-launches. 

“The COVER journey has definitely been unique.”

Iran Lends Plans to Engage in Bitcoin Mining To Avoid International Sanctions

The Iranian Center for Strategic Studies has released a detailed report highlighting the urgency for the state to venture into cryptocurrency. The exclusive report emphasizes the need for cryptocurrency adoption and setting up mining in the region to boost revenue generation. The strategy thinktank of the nation has advocated that the use of virtual currencies …

Crypto Pepes: What does the frog meme?

When BarnBridge founder Tyler Ward decided to change his profile pic a few weeks ago, he inadvertently created a Pepe the Frog NFT meme craze embraced by celebrities and the DeFi community that was on track to reap more than $60 million in sales on the OpenSea auction platform.

Then the wheels fell off rather spectacularly. Magazine chats with Ward on Monday, Feb. 22, after the first 20 of 1,069 Non-Fungible Pepes were sold at an average price of $62,671 each, and he cant quite believe it.

We sold like $1.3M worth of Pepes, like 20 of them,” he says. “One of them went for $200,000!

All these celebrities have gotten involved like Diplo, just signed up to be a part of the movement. Everyone in crypto is a part of it.

All the Defi protocol founders, even Vitaliks dad, got behind it. Dillon Francis, he’s a pretty famous musician in the US, hes actually been going pretty hard on all of this stuff. I wasn’t expecting it. I mean, its truly blown up over the weekend.



Origins lost in the mists of time

Way back on Feb. 12, Ward asked his in-house designer to knock up an image of sad-faced frog Pepe in the low-res style of CryptoPunks for use as his Twitter profile pic. Handed a few different examples, he sent them off to friends including Synthetix founder Kain Warwick and illustrator and art collector Tim Pang.

Everybodys just like You gotta do this, this is really fun, he says. Of course, while Pepe is a beloved crypto meme, its also widely associated by normies with racism and sexism and the alt-right edgelords from the badlands of 4chan. This pisses Ward off.


I mean were all pretty progressive. The Ethereum community is not alt right, but we very much have grown a fondness for this frog, he says, adding: The frogs background was never alt right. We were using it in crypto way before the alt right was.

In its OpenSea listing, the project said it was explicitly about trying to help rehabilitate the melancholy frogs Nazi image:

We are here to reclaim the humor of the meme through our shared love for NFTs and having some fun. If our Pepes are used for racism, bigotry, or anything terrible we will shame you and Kek will have vengeance on your soul.

Ward says he was inspired by Tyler Winklevoss idea that Bitcoin is actually a social network, inspiring millions to spread the gospel of Bitcoin by enabling them to share in its value.

I thought: what is the best way you can get everybody to band around the idea that Pepe is not racist? If we mint a bunch of them and give them some degree of value, then people will want them for more than just a profile picture. It creates a digital scarcity and I think that as a result of that theyll care about what they own and theyll care about trying to clean up the image of what it represents. Lets make the movement about taking Pepe back.

Despite having zero marketing budget and no time to even set up a website, the NFT Pepes meme took off across social media, with 2,000 members pouring into the hastily thrown-together Discord channel and almost 5,000 following the new Twitter account.

I started this as a joke. I was trying to change my Twitter profile picture. But that anti racism message really resonated because Im not the only person in crypto apparently, who thought Pepe was cool, and thought it was messed up that we couldnt use them because of racist people.



There was just one slight problem: Ward was not aware that the meme frog even had a creator, or that artist Matt Furies life has been all but ruined by alt-right edgelords appropriating his frog, as outlined in the excellent new documentary Feels Good Man.

This became clear when Galaxy Digitals Mike Novogratz tweeted about the insane $210,000 (110 ETH) price that one of the NFPs (PepeIsLyfe #38) went for, and the documentary makers pointed out that the knock-off Pepe had brought in almost as much as the films entire budget.


The Non-Fungible Pepe Twitter account quickly posted it was halting all sales while the team frantically tried to get in touch with Furie to seek his blessing. That blessing was not forthcoming.

I asked him if he wanted to be involved and he said no I dont and I also dont want you using Pepe, Ward explains via WhatsApp earlier this week. So instead of seeing how I could maximize profit and be a jerk, I refunded sales to people who felt slighted and I did what Matt asked me to do. Within a few days, theyd refunded 80% of the $1.8 million worth of WETH taken in the auctions.

Ward believes that legally speaking, the project was on solid ground. I dont think Matts legal position is very sound but it came down to me respecting him as an artist and the hell Pepe has put him through and I dont want to be a part of either ripping someone off even if its 2% their work what made this successful or 200%.

At the end of the day, the more I learned since starting this, that frog has made his life a living hell and had I known that starting this I wouldnt have done it, he admits. The project has since been transformed into Non-Fungible Universe, with 69 original characters and its own currency called KEK.



Pepes past

Pepe the Frog began life innocently enough in Furies 2005 comic book series Boys Club as a laid back frog with the catchphrase feels good man. Sure, there was psychedelia and drugs and stuff, but Pepe was a good guy, and Furie would post the comics to his MySpace page.

Memes featuring Pepe then became widespread on MySpace, Tumblr and 4chan. Over the next nine years, the frogs popularity grew to the point where influencers were doing Pepe makeup videos and mainstream pop stars like Katy Perry and Nicky Minaj were tweeting out the meme.


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According to The Daily Beast, in 2015, the anon army from one of 4chans more out there forums, /R9k/, decided to reclaim Pepe from the normies by pushing them away with a barrage of edgy Pepe memes featuring ironic racist, homophobic and antisemitic stuff. A member of the board tweeting as JaredTSwift told the news outlet: We basically mixed Pepe in with Nazi propaganda, etc. We built that association.

The joke became less and less ironic as Donald Trump campaigned for the presidency and Pepe became the house mascot of MAGA and white nationalists. Remember that whole punch a nazi meme? That began when alt-right figurehead Richard Spencer was punched in the face on camera while trying to explain the meaning of his Pepe badge. That same year, the Anti-Defamation League listed Pepe as a hate symbol, even though it explicitly pointed out:

The majority of uses of Pepe the Frog have been, and continue to be, non-bigoted.

The ADL launched a #savepepe campaign with creator Matt Furie, who said: As the creator of Pepe, I condemn the illegal and repulsive appropriations of the character by racist and fringe groups. The true nature of Pepe, as featured in my comic book, Boys Club, celebrates peace, togetherness and fun. I aim to reclaim the rascally frog from the forces of hate.



Rare Pepes were the original NFTs

4chan also had a hand in how Rare Pepes, essentially the original NFTs, came about. They trace their origins to a 2015 inside joke about an autistic kid who would exchange Good Boy Points for chicken tendies. Then people started exchanging Rare Pepes for tendies, which led to the idea that Rare Pepes had value.

This inspired some people to create unique tokens on the Counterparty platform to represent ownership of Rare Pepe trading cards, which were traded for PepeCash. Interestingly, rules were brought in to ensure content was original and didnt relate to alt-right, white supremacist or pro-Donald Trump content.

Pepe trading enthusiast Django Bates told the Daily Dot at the time: Most of the community dont think Pepe is an alt-right thing. Some (like me) think that we should Make Pepe Great Again and free him of that connotation. He adds further: Also, you have to be aware that Pepe as a symbol of hate and racism by alt-rights is a merely North American thing. The rest of the world does not see Pepe in that context.



Rare Pepe Wallet was set up as a platform to trade the tokens, with the phenomenon culminating in a live auction in 2018 that saw a Homer Pepe sell for around $38,500 in Pepe Cash. In an interesting postscript, earlier this week on March 1, owner Peter Lamborghini resold it for 205 ETH, or almost $300,000.



Chainlink frog army

The association of Chainlink, the ninth-largest cryptocurrency project, with Pepe is thanks to 4chans slightly less awful /Biz/ forum, which features a deep vein of dank meme-powered crypto shilling. It was here that a Q-style prophet/insider named Assblaster dropped hints and clues about LINK in the early days, claiming both that he was under an NDA and also dropping large amounts of free alpha about the project into the forum.

When Chainlink started doing well it just became this cultish prophecy of 4chan, and 4chan really likes Pepe the frog so it was kind of this merger, says Ward. A lot of people that posted about Chainlink would post with Pepe the Frog and they kind of became intertwined.

LINK Marine Albert Nazarov, who spends around four hours per day reading and tweeting about Chainlink, discovered the currency via 4chan.

Things like racism and sexism etc are prevalent, he concedes. But ironically, 4chan is basically a crucible of raw thoughts, the best and balanced make it to the top. Its almost anything goes there, and it trains the brain to decipher good info from bad stuff.



Nazarov says that for a while there, Pepe was bad for our optics, so the community tried to distance itself by dressing up as LINK gentlemen in suits etc. However, Pepe just cuts through better.

The main power of Pepe is relatability, he says, pointing out that the character is humanoid enough to express emotion but cartoonish and abstract enough to make great memes. And great memes helped supercharge Chainlink.

It no longer bears alt right connotations in my opinion, he concludes, while pointing out further:

Oracles and decentralised middleware is not sexy and its quite laborious to read about. Whilst a Pepe meme spreads the same message to a wider audience. Its basically the distillation of knowledge into a relatable form. A five-year-old could understand LINK through a meme for example.



Synthetix founder Kain Warwick currently sporting a Non-Fungible Pepe profile pic says he doesnt detect any trace of alt-right thought among the frog army.

Theyre all Chainlink memes, theyre very Chainlink focused, he says. And I dont think that theres a particular sort of alt right bent to the Chainlink community. I just think that theyve taken that meme as a funny meme.

But he adds there had been a long debate in the Synthetix Discord about the use of Pepe on social media about whether the crypto community has been able to reclaim the frog. And theyd come to the conclusion it has.

I think there is a bit of co-option of those images and reusing them for crypto memes and personally Im a fan of that. The Pepe meme was co-opted by the alt right so for it to be re co-opted by some other group and used in different contexts I think is a powerful way of undermining those sorts of things.

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway

The U.S. Federal Reserve is in a predicament as fiscal deficits erode the American economy and the nation is seeing a spike in benchmark 10-year Treasury yields. Meanwhile, Federal Reserve Chairman Jerome Powell expressed zero worries about inflation during an interview at a Wall Street Journal Jobs Summit on Thursday. Powell didn’t explain when the easy-money policies would end and after his commentary, U.S. bonds and stocks saw a massive sell-off.

The US Fed Juggles Shaky Treasury Yields and Easy-Money Policies

On March 3, 2021, Reuters reported on how the benchmark 10-year U.S. note saw some steep declines for three days straight ahead of the Federal Reserve Chairman Jerome Powell interview at the summit. But then Treasury bond yields spiked, which gave market investors the impression that easy-money policies would be stifled. Moreover, Fed Governor Lael Brainard discussed the concerning bond yields before Powell’s summit interview as well. This was after the fact that Powell sat in front of the Senate Banking Committee and the Chairman dismissed Treasury yield concerns.

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway
Jerome Powell showed no signs of stopping the easy-money policies the Federal Reserve has put into place since well before the first Covid-19 outbreak in the United States.

The following day, Powell exchanged dialogue with Wall Street Journal (WSJ) reporters and again shrugged off the worry over Treasury yields. Stocks and Bonds sold off almost immediately in a market downturn, as Nasdaq was down -274, NYSE -239, and the Dow Jones Industrial Average -345. Powell’s lack of concern and his commentary in regard to the Treasury yields and inflation was highlighted in a WSJ report that followed the Fed Chairman’s statements.

“We expect that as the economy reopens and hopefully picks up, we will see inflation move up through base effects,” Powell said during the conference. “That could create some upward pressure on prices. Today we’re still a long way from our goals of maximum employment and inflation averaging 2% over time. We’d want to see inflation sustainably above 2% and we’d want to be on track for inflation to run sustainably above 2%,” Powell added. Without the market getting reassurance from the Fed Chairman, participants sold treasuries and equities at a rapid rate.

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway
On Thursday gold spot prices and futures took a small percentage dip following the bond sell-off.

Interestingly, Powell’s statement’s affecting the market negatively, also seemingly trickled into precious metals and cryptocurrency markets as well. Gold prices were down on March 4, to $1,693 per ounce and silver prices were also down to $25 an ounce.

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway
Bitcoin (BTC) also dropped close to 5% on Thursday afternoon (New York Time) to the $46k range by the evening trading sessions. BTC has regained some momentum on Friday morning as the price nears the $48k zone again.

Billions of dollars in value were also shaved off the crypto-economy on Thursday as BTC dropped from $51k to above $48k during the early morning trading sessions, and then to $46.5k by the evening trading sessions (ET). 24-hour stats show bitcoin (BTC) lost around 9% since Powell’s statements.

Despite the market sell-off, particularly in the precious metals (PMs) arena, the Crescat Capital portfolio manager Otavio (Tavi) Costa believes that PMs will see a “secular bull market.” Furthermore, Costa shows how the Fed’s irresponsible monetary habits leave the central bank in a “trapped” position.

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway
Crescat Capital portfolio manager Otavio (Tavi) Costa explains that the U.S. Federal Reserve is “trapped” and has no choice but to issue a massive amount of Treasuries in weeks to come. “The Fed is trapped,” Costa says. The year is just getting started and US fiscal deficits already reached another record. Now at its worst level in 70 years. The current fiscal spending path will lead to record Treasury issuance this year,” the Crescat executive insists.

First off, Costa’s Twitter thread explains that U.S. fiscal deficits are at their worst level in 70 years. So horrible in fact, that Costa thinks this will spur a “record Treasury issuance this year.” He noted how the Fed alongside U.S. lawmakers already stacked up $2.2 trillion with the CARES Act bill.

“Then, an additional $900 billion of stimulus in December,” Costa says. “With the decline in tax revenues and other discretionary and non-discretionary outlays, the government had to issue $4.4 trillion of net new debt in 2020 to fund these programs,” the portfolio manager adds. “To fund this operation, the Fed purchased $2.4 trillion of these Treasuries or 54% of the total issuance. Equating to an average of $197 billion per month.”

Costa added:

In 2021, if the Fed decides to stick with the $80 billion/month plan, it would be 60% less than what they did last year. The math does not add up. Fiscal spending is likely to be significantly higher. The Biden administration is now planning on a two-stage stimulus package: rescue and recovery. The ‘rescue’ will be close to $1.9T.

Biden’s Recovery Package Needs to Pass Soon, U.S. Federal Net Receipts Roll Over

With all the Fed’s cards on the table, Biden’s recovery package “needs to be passed in the coming weeks before unemployment benefit programs are exhausted of money. In other words: A tsunami of Treasury issuances is likely underway,” Costa said.

He also highlighted that U.S. Federal net receipts are rolling over which is putting the Fed in another pickle. The Crescat executive believes that foreign investors and U.S. banks won’t be able to fund all this debt. “The ball is clearly on the Fed’s court,” Costa insisted.

‘The Fed Is Trapped’- Erratic Bond Markets, Exhausted Supplies, Analyst Says Tsunami of Treasury Issuances Underway
“The government cannot afford this ‘money party’ to stop,” Costa emphasizes. “This is not like the disinflationary times we had after the global financial crisis. It is quite the opposite. Today, we have inflationary pressures on both the demand and supply side of the economy. It’s about fiscal recklessness. Massive debt buildup. Monetary dilution to suppress interest rates. Lack of fundamentally cheap assets that yield more than inflation. A worsening current account deficit issue (…)”

Because the American populace continues to allow financial irresponsibility, the current and the next generations of U.S. taxpayers will pay the toll for these debts.

“In our analysis,” Costa writes. “The Fed will have no choice but to substantially increase its planned quantitative easing. After all, the central bank is the lender of last resort. But U.S. taxpayers will also be on the hook. Throughout history, an increase in income tax rates tends to follow a period of large government spending. It is only a matter of time until this becomes an even more discussed topic,” the Crescat analyst details.

Goldman Sachs’ executive Andrew Tilton told CNBC that markets predicted a Fed tightening prematurely. As 10-year notes spiked, people suspected that Chairman Jerome Powell may change his tune toward current fiscal policies.

“The earliest the Fed will start talking about tapering [monetary easing policies] is late 2021, with any discussion of interest rate hikes only coming a year after that,” Tilton explained. Meanwhile, all of these factors have hardened the mindsets of BTC bulls and precious metals fans alike. Some PM fanatics like Peter Schiff believe only PMs like gold and silver will benefit from the unprecedented monetary stimulus.

Nevertheless, there are plenty of crypto proponents that believe the Fed’s easing programs will bolster BTC and the digital asset economy. While others think that there’s room for both precious metals and cryptocurrencies in a world dominated by central planners who don’t take responsibility for their reckless spending.

What do you think about the Fed’s predicament and central planners’ massive monetary irresponsibility? Let us know what you think about this subject in the comments section below.