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Coinbase Trends On Twitter For Downtime During Bitcoin Break Above $40K

Bitcoin momentarily blasted above $40,000 today, doubling its previous peak set back in 2017. A huge rejection took place shortly after the level was overcome, prompting a $4,000 drop near instantly. But as eager buyers stepped in to “buy the dip” on Coinbase, they were met with frustration and disrupted services. And because Bitcoin is […]

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Bitcoin momentarily blasted above $40,000 today, doubling its previous peak set back in 2017. A huge rejection took place shortly after the level was overcome, prompting a $4,000 drop near instantly.

But as eager buyers stepped in to “buy the dip” on Coinbase, they were met with frustration and disrupted services. And because Bitcoin is trending on Twitter, Coinbase is now also but for all the wrong reasons. Here’s why Coinbase needs to shape up its act before the bull run enters the next phase.

Bitcoin Bull Run Then And Now: 2017 Versus 2020

Coinbase was the poster child of the 2017 bull market. The iOS app was trending on the Apple App Store for iPhone as the top way many investors were buying Bitcoin back in 2017.

With the cryptocurrency market reentering a bullish cycle, Bitcoin today set a high that is double the 2017 peak that put both the asset and the exchange on the map initially.

Related Reading | Bullish For Bitcoin: US Inflation Expectation Breaks Out From Decade Long Downtrend

Now the two are major brands in finance and are beginning to mature. Bitcoin is suddenly the investment focus of the ultra-wealthy, who are seeking to protect that wealth from the impact of inflation. Their money has pushed the cryptocurrency to recent highs and did so incredibly quickly.

The asset is now outperforming its 2017 rally by a large margin and is the second most powerful rally in history. It has resulted in dips being bought up much faster because institutions know they are in competition with others, and retail investors are fighting for their share too.

Which is why there’s so much outrage on Twitter regarding outages on Coinbase experienced today during Bitcoin’s pump.

bitcoin 40k coinbase twitter

Bitcoin shattered $40,000 briefly causing Coinbase to struggle | Source: BTCUSD on TradingView.com

Coinbase Can’t Keep Up With Crypto Volatility, Trends on Twitter

Bitcoin has grinded its way up steadily from $30,000 to $40,000 in just seven days to start 2021. The move culminated today with a strong push above $40,000, but it was rejected harshly after setting a peak of $40,412 on Coinbase.

Unless orders were already placed, however, few were able to actually buy or sell any BTC during the frenzy on Coinbase. Users report all kinds of issues, from server outages, an inability to log in, withdrawals not working properly, and much more.

Related Reading | Analyst: Bitcoin Parabolic Trend Is “Close To A Breakdown”

The issues were just as frustrating on the Coinbase Pro platform which is designed for institutional investors. Users were so upset about it all, they took to Twitter to vent.

coinbase bitcoin twitter

Bitcoin and Coinbase were both trending in the US on Twitter | Source: Twitter

Bitcoin was trending on Twitter at the same time due to the strength of the record-setting move. Coinbase, however, was trending for its lack of performance during the high-volume blitzkrieg.

Coinbase continues to be the “go-to” for institutions, and are planning on launching an IPO this year. If they can’t get the most basic functionality of their platform to work regularly and during when it matters the most, they could squander what positive reputation they have with the public eye during this current crypto bull run.

Featured image from Deposit Photos, Charts from TradingView.com

Source: https://www.newsbtc.com/analysis/btc/coinbase-trends-on-twitter-for-downtime-during-bitcoin-break-above-40k/

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Profiting from Crypto: Here’s a tool that’s actually useful

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Introduction to Profit Farmers

It’s no hidden secret that Bitcoin has been on a record-breaking bull-run ever since PayPal announced they’d offer their users the ability to use Bitcoin and other altcoins for transactions.

This has led to numerous altcoins rising in value too, riding in the slipstream of Bitcoin’s big rush.

With all these crazy gains being reported, many of us are left wondering;

“How can I best capitalize on crypto’s opportunities without rushing in and making mistakes?”

Well, that’s precisely the question I’ll attempt to answer today.

There’s a crypto trading tool called ProfitFarmers that claims it can help you make more profitable trades without all the stress, staring into charts, and the years of experience otherwise needed.

Their website boasts no commissions or fees on your trades, complete honesty on how their tool functions and a 100% money-back guarantee in the event their tool doesn’t offer you profitable opportunities.

In light of that, you’d be wise to set aside the next 5 short minutes to look into ProfitFarmers with me!

What is ProfitFarmers? 

Put simply, ProfitFarmers is a subscription-based service that produces trading signals, which are complete instructions for trading a given coin pairing from entry to exit.

ProfitFarmers is integrated with Binance through an API, so all your trades and profits actualize within your own account on Binance. This also makes it possible for PF to place trade orders on your behalf, saving you time, hassle and preventing accidental errors!

PF’s integration with Binance means you only need to click on a signal from their dashboard, enter how much you wish to trade with, and let ProfitFarmers’ software handle the rest!

ProfitFarmers will perform your trade from entry to exit based on the information programmed within the trading signal.

This also includes a stop-loss function where ProfitFarmers will place an order to sell your coins if the price takes a turn in the wrong direction. Perfect for anyone looking to make their risk management less of a headache to keep ‘on good terms’ with!

With absolutely no commissions or fees on your trades, ProfitFarmers is one of the few platforms where you can make trades knowing 100% of the profits you make are 100% yours to keep.

Better yet, thanks to their 100% money-back guarantee, you can join ProfitFarmers with the assurance that you WILL be presented with a fair amount of trading signals that offer a profitable opportunity each month.

Tools for more experienced traders: 

Besides from the main features described above, ProfitFarmers entails a host of tools designed for the more experienced and active traders to make use of. These tools are the Price Action Scanner, RSI Scanner, and a manual trading terminal linked directly to the Binance Exchange.

Maximize your profitability with the manual trading terminal by using some basic chart analysis to achieve close-to-perfect entry and exit points on your trades!

Results 

On a bi-weekly and monthly basis, Matthew Tansley (ProfitFarmers founder) creates a video breaking down their trading signal’s performance for everyone to digest.

These breakdowns are particularly beneficial for members, as the videos give valuable insights on what signals, strategies, and coin pairings are trending with the highest profitable performance.

For 6 months their Signal win rate has NOT been below 70%! That’s really impressive…

ProfitFarmers’ signal results & performance breakdowns dating months back are publicly accessible for everyone to go through on their website.

For the month of November, ProfitFarmers produced 256 trading signals, of which 81% hit target 1 (of 4 targets, where the higher the target hit, the higher the % peak gains offered).

Perhaps even more enticing is the fact that 61% of November’s signals hit targets 2,3 or 4, offering even higher money-making opportunities.

Here is the “Average Profit % Per Target” breakdown for the month of November: 

Read more about ProfitFarmers results on their website here

Conclusion: 

Would you like to instantly increase your chances of making more profitable trades today?

If you don’t want to spend years learning and hours stressing & staring into price charts all day, then I’d say ProfitFarmers is your best bet moving forward.

This platform offers tech-savvy answers to some of the biggest questions and pain-points involved with trading crypto. Save yourself the time and hassle by utilizing a tool that has been proven to do a majority of the ‘heavy lifting’ in trading for you.

With trade signals boasting a 78% all-time historical win rate and ProfitFarmers 100% money-back guarantee if that number ever falls below 60%, you can try ProfitFarmers with more peace of mind than any other tool I’ve seen on the market.

To start using ProfitFarmers or learn more about what they do, visit their website here!

Let me know about your experience with ProfitFarmers in the comments below.

Source:

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How Top U.S universities are privately increasing their Bitcoin holdings

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How Top U.S universities are privately increasing their Bitcoin holdings

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Over the years, the acquisition of Bitcoin amongst investment companies has become a common practice, but the industry looks to be expanding as universities are now securing their spot in the Bitcoin market. According to Coindesk, sources aware of this activity have disclosed that leading U.S institutions have quietly been increasing their Bitcoin assets over the past year.

These are not just any institutions; In fact, these are some of the universities with the highest endowment funds in the United States. Harvard (over $40 billion), Yale (over $30 billion), and Brown ($4.7 billion) are three out of the eight ivy league colleges in the country that are said to be a part of the list. The highly reputable Michigan University ($12.5 billion) is also said to be following in the footsteps of the Ivies. Apparently, Coinbase has been the middleman facilitating the transactions. It was revealed that these institutions have been buying directly from the Coinbase exchange. 

The spokesperson who asked to be anonymous told Coindesk that there are a sizeable number of institutions currently pouring funds into crypto assets. “There are quite a few. A lot of endowments are allocating a little bit to crypto at the moment.”

But the interest in cryptocurrencies began in 2019 and Coinbase is being speculated to have held the funds for the institutions for as long as 18 months, according to the source, who notes that said institutions are likely cashing in on a decent return on investment and could possibly make their Bitcoin acquisitions public this year. The source is quoted saying;

“It could be since mid-2019. Most have been in at least a year. I would think they will probably discuss it publicly at some point this year. I suspect they would be sitting on some pretty nice chunks of return.”

Another source who is a part of the crypto hedge fund industry asserted that public pension plans are soon to begin allocations in the coming months.

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 “We are seeing defined benefit pension plans getting close to making allocations. We are seeing public pension plans getting close to making allocations,”

Ari Paul, the cofounder of BlockTower Capital chimed in saying; “If I had heard that three years ago, I would have said it was wrong,”.

“But a lot of institutions are now comfortable with Bitcoin. They understand it and can just buy it directly, as long as it’s from a regulated entity like Coinbase, Fidelity or Anchorage.”


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DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/how-top-u-s-universities-are-privately-increasing-their-bitcoin-holdings/

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DeFi Trading Platform dYdX Raises $10m in Latest Seed Round

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Venture capital coin is flowing into DeFi like never before as another trading platform hits its target for fundraising. The non-custodial Ethereum-based exchange dYdX has announced that it has raised a $10 million Series B round led by Three Arrows Capital and DeFiance Capital.

New investors include Wintermute, Hashed, GSR, SCP, Scalar Capital, Spartan Group, and RockTree Capital. The announcement added that it had continued support from a16z, Polychain Capital, and Kindred Ventures among others.

Millions Pouring into DeFi

dYdX is geared towards more experienced derivatives traders rather than DeFi degens token swapping on Uniswap. Its infrastructure combines non-custodial, on-chain settlement with an off-chain low-latency matching engine with order books to deliver an institutional-grade, liquid, and low slippage trading experience.

Its user base and trade volumes have grown significantly in 2020 as bigger players tend to get more out of DeFi operations than the smaller traders getting stung on gas fees. It added that cumulative trade volume across perpetuals, margin, and spot trading increased 40 times, reaching $2.5 billion in 2020, up from $63 million in 2019.

In terms of users, unique wallets depositing funds into the exchanges’ smart contracts increased by almost five times from 8,000 wallets to 38,588 wallets through December 31. It added that since the start of 2021, the total cumulative trade volume has surpassed $3.5 billion. According to Defipulse.com, the exchange was listed at eighteenth on the TVL list with a near all-time high of $145 million locked.

In February 2021, dYdX will launch Layer 2 solution with StarkWare using zk-Rollups for perpetual contracts.

The announcement added that the funding will be used to decentralize more parts of the stack and hand over more control to users in addition to adding new assets and features to its perpetual contracts. dYdX will also be strategically investing in international growth markets such as Asia, with a focus on China.

The Decentralization Debate

There has also been much debate about whether projects can really call themselves ‘decentralized’ if they’re backed by venture capitalists that will be entitled to a share of any tokens or rewards. In reality, they’re just like corporations with shareholders and the whales will control governance votes and the future direction of the protocol.

Last week, Uniswap founder Hayden Adams responded to a thread started by Synthetix founder Kain Warwick on exactly this subject;

DeFi analyst Chris Blec, who has been highly critical of any form of crypto centralization, aptly commented that VC involvement inevitably leads to decisions that are good for founders and strategic investors, but bad for users.

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Source: https://cryptopotato.com/defi-trading-platform-dydx-raises-10m-in-latest-seed-round/

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