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Digital Asset Daily: Stocking UP

Digital Asset Daily: Stocking UP with Mati Greenspan Images of barren shelves have been flooding in over the weekend. As

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Digital Asset Daily: Stocking UP with Mati Greenspan

Images of barren shelves have been flooding in over the weekend. As it seems, some consumers are getting Coronavirus fever and rushing out to stock up on staples.
In an effort to gauge the impact of the panic, I put out a post on social media last night asking for people to report what they’re seeing. So far, 271 people have confirmed that they are indeed seeing signs of a frenzy.
The good news is that reading through some of the comments there does seem to be a method to the madness. In places where it’s warm right now, there doesn’t seem to be much panic or shortages at all. In the places that are seeing the worst of it, it’s the common sense items that are running low. Hand sanitizer, bottled water, and toilet paper top the list, followed closely by long lasting food items like pasta and rice.
So clearly some people are panicking off the back of this media fueled frenzy. From this we can also see that most shortages in goods are likely coming from the demand side and not from any sort of supply shock. Clearly, retail sales numbers are going to be through the roof!
Enjoy the market volatility and don’t forget to wash your hands.

Stock Recovery Underway

After one of the most violent stock slides in recent history, it seems like we’re coming in for a bounce today. Whether this is sustainable or not is irrelevant for now. There’s certainly enough cash on the sidelines ready and waiting to buy the dip.
The recovery comes despite some dismal data out of China. As we can see here, the manufacturing numbers for the month of February just narrowly avoided a multi-decade decline.
Asian stocks didn’t seem too affected by this though. The Shanghai composite index is now resting pretty much exactly where it was before the Lunar New Year Celebrations.
A large driver of the new direction of course are the central banks who are now responding to the panic in kind. The People’s Bank of China has been pumping money in since the start of this and we now have a commitment from the Bank of Japan that they’re ready to act with further stimulus. 
In the United States even though the Fed hasn’t expressly said anything on the matter, the market now fully expects them to take drastic measures at their upcoming meeting on March 18th. 
Before that though, tonight it will be the Reserve Bank of Australia who takes the stage at 2:30 PM in Sydney. Analysts seem to be forecasting an emergency rate cut from 0.75% to 0.50%. Will they give into the fear and pressure?

Risk-On Digital Too

Right in line with the risk-on feel in the rest of the markets, the digital asset market is having it’s own rally today with many of the altcoins gaining 5% or more in the last 24 hours.
It’s about time for a bounce too. After taking the entire weekend to test the bottom between $8,200 and $8,500, bitcoin is seeing a strong tug north today. A move that does seem to be supported by the mining community before the halving.
As we can see in this chart, the short term hashrate has leaped to a brand new record high…
What exactly this might mean for the price is unclear to say the least. Perhaps some new rigs have come online, or perhaps miners are running their machines extra hot going into the halving. It could also be a factor of block-times. As we’ve seen recently, short term hash data can be fairly unpredictable. 
In any case, it does make for a nice narrative for a rally. Let’s hope it lasts.
Best regards,
Mati Greenspan
Analysis, Advisory, Money Management

Source: https://www.cryptomorrow.com/2020/03/02/digital-asset-daily-stocking-up/

Blockchain

Bitcoin Halving: Definitive Guide (In Just 5 Minutes)

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Bitcoin halving is often referred to as “Halvening”, it’s a formulated reduction in the reward coins offered to the miners using a predefined blockchain algorithm.

Bitcoin halvings take place once in every four – 4 years approximately, or for every 210,000 block transactions.

The process of halvening started in the year 2012, approximately after 4 years of the invention of bitcoin i.e 2008, but practically bitcoins came into play in the year 2009.

After the first bitcoin halving, the block reward of 50 bitcoins per transaction were reduced to 25 bitcoins per block or transaction, later this reward was further reduced to 12.5 and it has now fallen to 6.25 after halvening in 2020.

The main idea of halvening is to create scarcity for the coins and to control inflation, as bitcoins issuance is limited to 21 million coins as per the idea of Satoshi Nakamoto, inventor of Bitcoin.

The production of 21 million bitcoins involves 32 halvenings, we are now done with two halvenings and this might continue till or come to an end in the year 2140.

Investors from all over the world are excited and waiting for the Bitcoin price to increase, and the demand for bitcoins in the online gambling industry is high. Bitcoins are widely accepted at Bitcoin Casinos as they collect deposits in the form of cryptocurrency from their players.

To know the overview of Bitcoin Halving (Just in minutes), check out the following infographic developed by Abishai James at WinBTC.net in partnership with ACMarket.

bitcoin halving
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Santiment Reveals Top 10 Ethereum Projects by Developer Activity

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Despite record highs for network charges in February, development on some of the industry’s leading Ethereum based projects has continued unabated.

The research stated that development activity is an often-underrated indicator of project success. It demonstrates the ongoing commitment to creating a working product, continuously polishing and upgrading its features, and staying true to the long-term roadmap.

The research focused solely on pure ERC-20 projects that are currently committed to developing on Ethereum. It has used 30-day Github activity to track development status and action.

The Ethereum Project Top Ten

At the top of the list for developer activity in February is the decentralized prediction market platform Gnosis. Despite a 28% slide in GNO token prices for the second half of the month, the Gnosis team has been busy working on the product.

Gnosis launched on the xDai Ethereum sidechain, joined the Open DeFi alliance, and launched a new collaborative grants initiative for Gnosis Safe Apps last month.

Status was the second most developed Ethereum based project with a number of updates for the open source mobile dApp browser and messenger. SNT prices hit a three-year high of $0.125 in February.

Virtual metaverse and NFT protocol Decentraland was third in the list of developer activity with a number of features introduced to improve user experiences.

DeFi synthetic asset protocol UMA came in fourth with two main focuses for the month; getting some major protocols out the door, and there was a collaboration with BadgerDAO.

Coming in at number five for developer action was Chainlink which announced the official mainnet launch of Off-Chain Reporting (OCR). This significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90%, it added.

“The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.”

DeFi Dominates

These were the five most developed platforms in the Ethereum ecosystem for February 2021, and they were dominated by DeFi.

Also featuring in the top ten list was Skale Network, a decentralized modular cloud for running Ethereum-based dApps. MakerDAO, which is consistently in the top ten for development, was in seventh place.

Decentralized data exchange protocol Ocean, computing sharing economy Golem, and analytics platform Santiment itself rounded out the top ten.

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Source: https://cryptopotato.com/santiment-reveals-top-10-ethereum-projects-by-developer-activity/

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Blockchain in Sports Betting

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Wanna enter the Sports betting industry? Are you worried about the transactional data, security and entry charges?

Just relax and lean on to your chair. The amazing features of blockchain technology have reshaped the sports betting industry. It enhances safe and secure transactions as it is an open source decentralized network.

Basically, blockchain offers tremendous features like transparency, fast payouts, speedy transactions, independent in nature, etc. The most effective feature is the player’s account will not be restricted or blocked either personally or professionally  due to extreme winnings.

Blockchain is the most prominent technology ruling today’s betting industry. It’s advancement in the sports industry has laid a pavement for its enormous growth in recent times.

To get detailed information, checkout the following Infographic developed by WinBTC.net in Partnership with MrBet.me.uk.

Blockchain In Sports Betting Infographic
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