January 15, 2021 — Every person you ask will say the same thing: 2020 is unlike any other year.
The cryptocurrency industry felt the full brunt of the pandemic, as evidenced by the March 2020 crash. Nine months, one Bitcoin halving and a couple of institutions later, the industry sees a resurgence in interest brought about by Bitcoin hitting and breaking the psychological all-time high at $20,000 and reaching a new one of $42,000.
Table of Contents.
What is the 2020 Year in Review?
BitPinas sought the opinion of key crypto and blockchain leaders/influencers in the Philippines and abroad on what they think about 2020 in general and what they look forward to in 2021. Today, we feature Colin Goltra from Binance sharing his thoughts about cryptocurrency in the Philippines, crypto art, and leading and expanding the #CryptoPH ecosystem.
What does your organization do and what is your role in it?
Colin Goltra: As Director of Growth for Southeast Asia and Country Director for the Philippines, I am tasked with expanding Binance’s presence in Southeast Asian markets, including/especially the Philippines. Binance is the world’s largest cryptocurrency exchange and CZ has given us the mandate that in order to expand into the mass market we must have strong local executives and teams in our key markets. I’m focused on building great teams and proliferating our products and services throughout the region.
Outside of my day job, I’m also very involved in the broader #CryptoPH ecosystem movement and an avid collector of Crypto Art.
Professionally in 2020, the big one for me was that I joined the team at Binance and have really focused on building out an excellent team. We are already starting to see some great wins throughout the region, including the success of our Binance P2P marketplace in the Philippines.
As a business, 2020 has been a huge year for Binance. Due to market conditions, continued product innovation, and aggressive expansion into local markets, CZ seems to announce new records in volume, activity, and other all-time highs on a daily basis on Twitter now. Binance is really surfing well in the high tide right now.
In addition to the professional highlights, the other big ones for me were helping to expand the #CryptoPH community via Telegram and Discord communities and establishing a name for myself as a Crypto Art collector via platforms like SuperRare. I wrote a blog post in the crypto art community (“Unholy Unions“) that seemed to really resonate well with both the artist and collector community, and have continued to contribute my thoughts into that fast growing space.
What do you think is the most important blockchain/crypto development in the Philippines and globally in 2020?
The big one I was a part of was the proliferation of Binance P2P as a top PHP crypto market, really competing well locally on price and ultimately allowing Filipinos to have better access to Binance’s global services.
In the local ecosystem (#CryptoPH), it was definitely the rise of crypto-based play-to-earn gaming here in the Philippines, with significant growth and coverage of Filipinos playing games like Axie Infinity. I think this is a true crypto-native use case and the Philippines is really at the forefront of a major crypto movement here, unlike with a lot of other prior crypto movements.
Globally, a lot has been said about DeFi, I think that has definitely been a huge story for 2020, but it’s also already been talked about at length.
How did the pandemic change how your organization operates? Or how you’ve changed your approach?
I joined Binance during the pandemic and I think they were very well adapted to the changes. There’s a natural decentralized and remote-first ethos to the company and most people were already working from home to begin with. I haven’t met most of my new teammates in person yet, which can sometimes make it hard to gel as a group, but overall I think we’ve taken it in stride as well as we could have.
What is your fearless 2021 crypto prediction or forecast?
Overall, I’m fully aware that predictions are inherently fragile, but I do think there are common patterns that happen the year-or-so after the halvening and we are already seeing them play out big time. We are well past the prior all-time high in BTC and it seems that ETH also has the momentum to pass its all-time high. These big price movements will attract a broader interest base and likely lead to a continued frenzy in the market for some time.
Globally, some things I think we will see in 2021 as a result of this:
- Continued price mania for a bunch of different coins
- Continued exploration and investment by institutions into mainstream crypto assets
- Continued exploration into other asset classes like NFTs, gaming items, and crypto art/collectibles
- I think we will see multiple works of crypto art go for more than $1million USD
Locally, I think we will see:
- Expansion of new crypto services in the Philippines by mainstream players like Binance and Coins.ph
- The Philippines, via communities like #CryptoPH, will contribute leadership in the global crypto ecosystem in a way that it hasn’t previously. Due to wages in markets like the Philippines, we will be right at the forefront of “use case” verticals like gaming and art where extra crypto earnings go much further – and there will be individuals and companies from the Philippines that that are globally recognized as leaders in these spaces
- I think we will see a lot of new PH crypto startups and projects that work more closely at the protocol level (as opposed to new exchanges and wallets) and break onto the scene as major players -> we already have The Yield Guild, and will hopefully see many others
- I think we will see new individual Filipinos become leaders in our community and help us spread crypto to more varied and targeted Filipino audiences -> like Kookoo, Spock, and others
What do you personally look forward to in this space?
At Binance, I think there’s a lot more we would like to do to expand our presence in the Philippines and I hope to achieve many of those roadmap goals in the coming year.
Overall, I think I am just more excited about the home grown PH crypto scene really coming into its own this cycle and having a much more collaborative tone than in prior bull market years. It’s a great community and I think it can do a great job spreading the word about crypto throughout the Philippines.
This article is published on BitPinas: Colin Goltra | Binance | 2020 Year in Review
Kraken Daily Market Report for May 14 2021
- Total spot trading volume at $3.17 billion, 5.3% higher than the 30-day average of $3.01 billion.
- Total futures notional at $638.8 million.
- The top five traded coins were, respectively, Ethereum (+2.3%), Bitcoin (-1.4%), Tether (0%), Dogecoin (12%), and Polkadot (-0.6%).
- Strong returns from Dogecoin (+12%) and Synthetix (8.5%).
|May 14, 2021
$3.17B traded across all markets today
Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD
#####################. Trading Volume by Asset. ##########################################
Trading Volume by Asset
The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.
Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (May 14 2021)
Figure 2: Mid-size trading assets: (measured in USD) (May 14 2021)
Figure 3: Smallest trading assets: (measured in USD) (May 14 2021)
#####################. Spread %. ##########################################
Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.
Figure 4: Average spread % by pair (May 14 2021)
#########. Returns and Volume ############################################
Returns and Volume
Figure 5: Returns of the four highest volume pairs (May 14 2021)
Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (May 14 2021)
###########. Daily Returns. #################################################
Daily Returns %
Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (May 14 2021)
###########. Disclaimer #################################################
The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.
Ternoa Blockchain’s NFT-based data transmission project gets LVT Capital as a partner
Ternoa Blockchain has found a new partner as it introduces its NFT-based data transmission service to the market.
The company received an investment from Australia-based private equity firm LVT Capital to form a strategic partnership aimed at enhancing the sustainability, innovation, competitiveness, and dependability of Ternoa’s services that allow users to build time capsules for safely transmitting their memories and important data to their descendants even after death.
Building on LVT’s Expertise
With its focus on blockchain, crypto, and tech projects, LVT Capital has already proven its expertise in these areas with its numerous collaborations and investments. The company has already made investments in more than 40 top-caliber crypto, real estate, finance, education, and cybersecurity firms with 200 more under evaluation for potential collaborations.
LVT Capital has the market and technology expertise as well as the resources to enhance Ternoa’s unique service and promote it to boost the company’s competitiveness. For instance, LVT Capital has its own media & marketing services and an online publishing arm focused on blockchain, technology, and business, which makes the firm a perfect fit for Ternoa.
Ternoa Blockchain Offers Customizable Time Capsules
Ternoa Blockchain found a new way to use NFT and blockchain technologies to help people handle their data storage and transmission needs, which is one of the reasons for LVT Capital’s decision to invest in its business. With its Polkadot-powered, NFT-based customizable time capsules, people can securely transmit their memories such as photos, videos, and other important data to future generations or simply use the platform as a secure storage solution.
Ternoa’s platform is flexible enough and gives users several options on how they wish their data to be retrieved by their intended recipients. The available transmission protocols are Safe Protocol, Consent Protocol, Death Protocol, D-day Protocol, and Countdown Protocol.
- Safe Protocol – Data owners can retrieve data at any time, which makes use of Ternoa as a secure and portable storage solution.
- Consent Protocol – Recipients can access the time capsule as long as the original owner does not use his veto option.
- Death Protocol – The time capsule will be delivered to the beneficiaries upon the death of the creator based on local death registries APIs.
- Countdown Protocol – Introduces a countdown feature which can be set to1 month, 1 year, or 10 years. The time capsule will be delivered to the recipient if the countdown reaches the limit. The creator can reset the countdown at any time.
- D-day Protocol – Time capsule can only be accessed on a specific date, which is set by the creator.
While the loss of data is always an issue for other data storage solutions, Ternoa eliminated this risk by making copies of the files inside the time capsule, which are stored in other dex storage blockchains. At the moment, Ternoa sends these copies to Aerweave, Sia, and Storj while keeping the original version in its network. To learn more about the project, click here.
IMPORTANT NOTE: This is a paid press release, which BitcoinerX has posted as part of a commercial agreement. BitcoinerX is not responsible for producing this content and does not endorse the products or services mentioned. It is the responsibility of the company posting the press release to ensure the material is credible and accurate. BitcoinerX is not responsible for any damage or loss caused to anyone who chooses to use the company, product or services mentioned in the press release. BitcoinerX does not recommend using the information in the press release to form the sole basis of investment decisions.
Altcoins pop while Bitcoin looks for support near $50,000
Bitcoin (BTC) continues to look for direction but as this occurred, Ether and altcoins bounced higher from the May 13 sell-off. Dogecoin shocked investors with its 47% rally that kicked off after Coinbase announced that it would list (DOGE) in the coming months. Doge price also rallied after Elon Musk tweeted that he was “Working with Doge devs to improve system transaction efficiency. Potentially promising.”
While many altcoins have seen double-digit gains during the recovery the price of Bitcoin (BTC) has continued to languish near the $50,000 level as whale wallets containing at least 1,000 BTC have declined by 4.7% compared to the previous month, indicating possible profit taking or a rotation into different assets.
Data from Cointelegraph Markets and TradingView shows that while the Bitcoin recovery has been muted, demand for Ether (ETH) led to an 18% rally as the altcoin notched an intraday high at $4,173 on May 14.
Gains in the top altcoin come amidst mixed fundamental developments, with data from Glassnode showing that wallets holding at least 32 ETH have been steadily declining in recent months suggesting that fewer people are interested in becoming “full validators” for the network’s upcoming proof-of-stake blockchain.
Altcoins rally higher
While the debate about whether or not the market is officially experiencing an altseason rages on, one of its trademark characteristics is a sideways trading Bitcoin that leads to traders refocusing their attention on the altcoin market and leading to a decline in Bitcoin dominance.
One of the breakout stars of 2021 is Polygon (MATIC), which has seen its price rally 60% over the past 24-hours to reach a new record high at $1.75.
Another project whose price surged 45% from the lows on May 13 is iExec RLC (RLC), a decentralized cloud computing network that got a boost of adrenaline earlier in the week after Coinbase revealed that it would list the token.
Other notable performances include an 80% increase in the price of Ergo (ERG) and a 48% increase in the price of Sora (XOR) which lifted the token’s price back above $800.
The overall cryptocurrency market cap now stands at $2.307 trillion and Bitcoin’s dominance rate is 40.3%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
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