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Chainlink Enters Top 5! Yet Analyst Predict the Bearish Trend

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Chainlink Rebounds With Boomerang Effect to Enter the Top 5 The past week witnessed an unpleasant run for the digital asset, with a plunge of more than 20 percent. Chainlink recorded a drop from over $15 to less than $10 gradually. But it grabbed everyone’s attention by recovering and jumping above $12 in less than …

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Chainlink Rebounds With Boomerang Effect to Enter the Top 5

The past week witnessed an unpleasant run for the digital asset, with a plunge of more than 20 percent. Chainlink recorded a drop from over $15 to less than $10 gradually. But it grabbed everyone’s attention by recovering and jumping above $12 in less than 24 hours.

link price chart

The whole crypto space including other DeFi tokens witnessed a plunge in the past week. However, while the altcoin market just initiates its recovery, Chainlink bounces aggressively. It is currently trading at $12.70 with a change of 8.65 percent.

In fact, the digital asset managed to enter the world’s top cryptocurrency list, settling in the fifth position. It surpassed Bitcoin Cash and Polkadot that recently featured in the top five list. 

Also Read: Top Defi Gainers on September 7th: BAND 21%, LINK 20%, FXC 14%

Its a Buy Signal for Link!

Santiment, an on-chain analysis and insight provider has speculated that the digital asset has indicated a ‘buy’ with a dip surrounding $10. It also shared a chart, noting that LINK’s 30-day MVRV suggests that there is an opportunity to buy low.

This recovery of the token was followed by an attack by a spammer targeting a few node operators of Chainlink. The attempt to disrupt the network through an unnecessary influx of on-chain computation. 

Chainlink nodes are oracles that allow the smart contracts on Ethereum to interact with the external software. In fact, the attempt was failed by the Chainlink’s monitoring system and in the due process, nearly 700 ETH were lost from the hot wallets of node operators.

Interesting Read: Top Crypto Losing Value: BTC, ETH, LINK – Opportunity to Buy?

What’s Coming Next for Link?

The analysts and researchers carry different opinions over the predictions for the digital asset. Some say the LINK will have a bull rally, while others say LINK would surge till some highs and plunge back surrounding $10. But some say it would go down below $5 to reach $3.

With the surge in the LINK price, a bull run is anticipated by many. A popular YouTuber, Ben Philips tweeted that LINK could make the holders ‘millionaire’.One of the influencers on twitter, Kevin Svenson said that during the dip, he doesn’t wish to sell off his LINK holdings

On the other hand, a full-time trader and technical analyst, Crypto Micheal have predicted a decline for LINK after it attains $14.50.  He shared a graph, according to which LINK is expected to reach $14.50, followed by a plunge which could dip the LINK price to $10 -$10.50.

Surprisingly, a user named TheWolfofwAllStreet predicted a bearish rally for Chainlink with a sharp decline and set the target at $3.

Collectively, chainlink’s remarkable bounce-back has been the prime focus of the crypto and DeFi space. The top DeFi token is anticipated to have a major bull run in the coming days, but some also predict a downtrend for the digital asset.

 Will Chainlink attain a new ATH or faces a dip below the support level? Tag us with your response.

Also Read: Bullish Trend Awaits the Crypto Space With Bitcoin Price Going to the Moon

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Chainlink Enters Top 5! Yet Analyst Predict the Bearish Trend

Article Name

Chainlink Enters Top 5! Yet Analyst Predict the Bearish Trend

Description

Chainlink surges more than 25 percent as the altcoin market recovers with the start of the week
However, misty clouds surround the future of the digital asset in the short-term.
The token rose despite a failed attempt to disrupt the network with unnecessary on-chain computation,

Author

Sara

Publisher Name

Coinpedia

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Source: https://coinpedia.org/news/chainlink-enters-top-5-yet-analyst-predict-the-bearish-trend/

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Bitcoin’s Market Cap Now Bigger Than Visa and MasterCard Combined

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Apart from surpassing the $1 trillion level, bitcoin’s market capitalization is now worth more than two of the largest financial service companies – Visa and MasterCard – combined. Moreover, BTC’s market cap is also higher than several of the largest US-based banks, including JPMorgan, Bank of America, and Citigroup.

Bitcoin Above Visa and MasterCard

The previously referred to as “magical internet money” has been on a mind-blowing bull run since early October when it dabbled with $10,000. In a matter of months, the asset’s price skyrocketed more than six-fold. Naturally, it also impacted the cryptocurrency’s market capitalization, which is well above $1 trillion.

On its way up, bitcoin’s market cap surpassed those of notable names such as Netflix, Walmart, Samsung, Alibaba, Berkshire Hathaway, Tesla, Facebook, and more.

While the community anticipates another run that could take down Google, it’s worth comparing BTC’s rise with some of the most well-known financial organizations, as bitcoin is a financial asset intended to be a peer-to-peer electronic cash system.

Namely, those are the giant US multinational services corporations Visa and MasterCard. According to AssetDash data, Visa is currently the 13th largest asset by market cap with $490 billion, while MasterCard takes the 18th position with $374 billion. Put together, the market capitalizations of both are worth $864 billion.

Meaning that bitcoin is larger than the two of them combined. In fact, BTC’s market cap is nearly $200 billion more, with $1.133T as of writing these lines.

Interestingly, Visa and Mastercard have taken pro-cryptocurrency approaches since recently as both announced plans to enable direct digital asset purchases on their platforms.

Bitcoin Bigger Than JPM, BOA, Citi

While still comparing bitcoin with financial giants, let’s take a swing at US-based banking behemoths – those who have criticized the primary cryptocurrency the most throughout the years.

JPMorgan Chase & Co, whose CEO once called bitcoin “fraud” and later had to apologize, has a market cap of $473 billion. Bank of America, most recently saying BTC is impractical and too volatile, has a market cap of $345 billion.

Meaning, their combined number is $818 – as mentioned above, significantly lower than bitcoin. So, let’s add more. With the addition of the next two banks from AssetDash – Wells Fargo ($167 billion) and Citigroup (151 billion) – they are finally able to match BTC’s market cap at over $1.1 trillion.

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Source: https://cryptopotato.com/bitcoins-market-cap-now-bigger-than-visa-and-mastercard-combined/

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MicroStrategy Directors Now Receive Board Fees in Bitcoin

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MicroStrategy, a publicly-listed company spearheaded by Michael Saylor, who’s arguably one of Bitcoin’s biggest proponents, will now pay the board fees to its non-employee directors in bitcoin.

  • According to a new filing with the United States Securities and Exchange Commission (SEC), MicroStrategy has modified the compensation arrangements for non-employee directors.
  • Per the document, they will “receive all fees for their service on the Company’s Board in bitcoin instead of cash.”
  • Going even further, the filing reads that “in approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy.”
  • As to the technicalities of the payments, the amount of the compensation payable to each non-employee director will remain unchanged and nominally denominated in USD. However, at the time of payment, the fees will be converted from USD into bitcoin using a payment processor and deposited to the wallets of the applicable non-employee directors.
  • With this move, the company cements its already bullish stance on Bitcoin and highlights its strong belief in the primary cryptocurrency and the technology that underpins it.
  • The company is also getting closer to owning almost 100,000 bitcoins.
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Source: https://cryptopotato.com/microstrategy-directors-now-receive-board-fees-in-bitcoin/

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ConsenSys-Backed Virtue Poker Closes $5 Million Strategic Investment Round

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Virtue Poker, a project backed by the blockchain mogul ConsenSys, has completed a strategic investment round of $5 million.

Strategic Investment Ahead of Mainnet Launch

The news comes ahead of the mainnet launch, which is scheduled to happen in May 2021.

Virtue Poker is the only blockchain-based company that’s received an official license from the Malta Gaming Authority, Virtue Poker has closed a $5 million strategic investment round led by notable investors ConsenSys, DFG Group, Pantera Capital, and Jez San from FunFair.

In a press release shared with CryptoPotato, the project’s CEO, Ryan Gittleson, said:

“After years of consultation, in-person meetings, and effort, Virtue Poker can proudly say we are the only licensed blockchain-based poker application in the market.”

The project tackles some of the pressing issues that are currently riddling major poker platforms by leveraging the capabilities of distributed ledger technology.


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“Blockchain technology provides modern and secure payment infrastructure that provides global accessibility to consumers, unlike our competitors.

By working with regulators to become a licensed online gambling company, Virtue Poker now has the legitimacy to crossover and compete for customers from legacy providers to bring blockchain-based wagering mainstream.”

The Virtue Poker team, as well as the Malta Gaming Authority (MGA), worked together for more than two years in establishing a regulatory framework that’s suitable for blockchain-based gambling applications. The company is now allowed to operate legally and compete in most global markets to deliver the promise of fair pair playing, as well as transparency to mainstream adoption.

What’s Next?

Next in the pipeline for Virtue Poker is the release of the mainnet, which is scheduled for May 2021. Phil Ivey, the legendary player and member of the Poker Hall of Fame, who’s also a stakeholder in Virtue Poker, said:

“I’ve been working with the Virtue Poker Team for over 3 years,” says Ivey. “Their innovative blockchain platform can be a major part of poker’s future.”

The project is among the first ones to be incubated by ConsenSys – it was founded not much after the debut of Ethereum.

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Source: https://cryptopotato.com/consensys-backed-virtue-poker-closes-5-million-strategic-investment-round/

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