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Digital Asset Daily: Uncertainty Abounds

Reduce physical contact. Reduce travel. Don’t attend large gatherings. If you feel sick, stay at home. Wash your hands. These

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Reduce physical contact. Reduce travel. Don’t attend large gatherings. If you feel sick, stay at home. Wash your hands.
These are some of the top advice from experts to reduce the spread of coronavirus. In some places where the affects are particularly rough, a full neighborhood or city might go on total lockdown. The economic impacts of such activities at this point are far from known, as is the severity of the virus itself and how far it might spread. Uncertainty abounds.
The old tools of Quantitative Easing simply isn’t enough to battle the current crisis. Those are tools for the rich, whereas the virus is affecting everyone. Therefore, what’s needed here is something different. Something that will allow poor people who are sick to stay at home. We discussed Hong Kong and helicopter money in an article two weeks ago. More recently, we’ve seen a great example of this from Italy…
This is a huge step int the right direction. Almost makes the last 10 years of stimulus look like an unnecessary free handout.
We’re expecting a huge press conference from the United States later today. However, in a preemptive statement, Treasury Secretary Mnuchin has said not to expect broad stimulative measures.

Coordinated Measures

Not to make light of the situation, but one thing that’s happening as a result of the fast spreading coronavirus is the level of cooperation around the world seems to be increasing. Globalization is toast and many supply chains may see irreparable damage but from a policy point, we might just see something emerge that economists have been calling for over the last decade but have yet to really see, until today.

See, the problem with quantitative easing is that it’s only a temporary solution from the central bank but what’s really needed to make it effective is fiscal stimulus from the government itself. In most cases, politicians are unwilling or unable to take these measures because it means taking on large amounts of debt.

Today in the UK, something unique was seen. The conjunction of monetary and fiscal policy acting in unison to cushion the side-affects of the virus.

For the first time, we’ve seen simultaneous action from a central bank and their government counterpart. The Bank of England announced an emergency rate cut of 0.5%, going from.75% to just 0.25%. A few hours later, the Chancellor of the Exchequer announced a special stimulus package to the tune of £30 billion.
It’s a shame that it took a global pandemic to bring us to this situation, and that by the time we got here the affects will no doubt be dampened by years of unchecked central bank only stimulus, but as far as economic leadership is concerned Great Britain is certainly a stop ahead.
Tomorrow, it will be the ECB’s turn to make their move. Hopes are high in anticipation but Lagarde will really need to pull a rabbit out of a hat in order to please the markets. First off, the Eurozone already has negative interest rates making it a lot more difficult to perform an emergency cut. Second, unlike the UK, the political structure of the EU is quite fractured, making it extremely difficult if not impossible to coordinate such action.

Trading Levels

For anyone asking about bitcoin and the emerging market of digital assets, this just might not be the time to think about it. We can pretty much close the entire case by saying that bitcoin is being swept up by everything that’s happening with traditional markets and being placed in the same speculative basket as the stock markets.
So, we should be looking at the stocks right now to figure out how to trade cryptocurrency. At least until we see a significant decoupling between the two. This might come later on, once we understand more about the economic impact and how long it might take to see some sort of recovery. Or, it could come for other reasons that are yet unknown. There’s too much uncertainty right now to make any type of forward-looking statements. 
At this point, I myself am having trouble keeping on top of all the information. Between analyzing the markets, trading the markets, building a business, and raising a family, I’ve been having a lot of fun lately.
Speaking of which, I want to wish a very warm welcome to Pedro Febrero, who joins Quantum Economics as our first Analyst. Please feel free to reach out to Pedro directly on his Twitter or LinkedIn.
Speaking of the markets though, I think the most relevant thing that we need to look for is fresh lows. The S&P 500, for example, has found itself a very logical line of support at exactly 2,700 points. Should this level break, it’s uncertain just how much further south things might go.
For anyone trading these markets, I highly recommend to use the short term charts and consider implementing trailing stops and of course proper money management.
If you found this letter interesting and/or useful, please send over your feedback as many of you already are. If you’re just seeing it for the first time make sure to subscribe so you never miss an episode and always feel free to share on social media and in your chat groups. Have an awesome day!
Best regards,
Mati Greenspan
Analysis, Advisory, Money Management

Source: https://www.cryptomorrow.com/2020/03/11/digital-asset-daily-uncertainty-abounds/

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Axie Infinity Records Holders ATH: 420% Year to Date Growth

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Popular non-fungible token (NFT) gaming platform Axie Infinity continues to see increased adoption from users, following exponential growth in the number of wallet addresses.

Axie Sees Surge in Address Holders

According to data provided by IntoTheBlock on Tuesday (September 28, 2021), Axie Infinity Shards (AXS) ownership is on the rise, with 17,480 address holders. This figure represents a new all-time high (ATH) and a 420% increase year-to-date (YTD). Meanwhile, this growth is indicative of the rising popularity of Axie Infinity and play-to-earn non-fungible token (NFT) gaming.

Back in July, CryptoPotato reported that the value of the AXS token skyrocketed nearly 400% within one month, leading to a market capitalization of over the $1 billion mark. Later in August, AXS was among the assets listed on the major cryptocurrency exchange Coinbase Pro, which also gave it an immediate boost.

Axis Infinity, developed by Sky Mavis and released in 2018, arguably popularised the play-to-earn trend and has recorded a number of impressive milestones in recent times. Data from DappRadar revealed that the project recorded over $2 billion in NFT sales volume, solidifying Axie’s place as the most valuable NFT collection, thereby surpassing major names such as CryptoPunks, Art Blocks, and NBA Top Shot.

The data also showed that more than 600,000 users traded Axis Infinity NFTs, resulting in 4,887,645 transactions. The project currently boasts over 1.5 million daily active users.


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According to Jeff Zirlin, co-founder of Axie Infinity, half of the platform’s users got to interact with cryptocurrency and blockchain for the first time through Axie, while 25% of them did not own a bank account.

The Growth of NFT Gaming

The NFT industry is becoming popular with celebrities, major sports leagues, and companies buying digital art in whatever form, or selling them. However, blockchain-based games are seeing a special kind of attention.

A report by DeFiPrime stated that the NFT Gaming market has a total market valuation of nearly $180 billion as of August 2021, with the value estimated to rise to $196 billion. An excerpt from the report reads:

“NFT games may have the potential to become the standard for the gaming market if it sees enough attention and popularity. Already they have made major changes to games and made it much more fun for players. From there, it could be a very major change to the way people play games and could be as major as Doom was to the market or 3D was for environments.”

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Source: https://cryptopotato.com/axie-infinity-records-holders-ath-420-year-to-date-growth/

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Bitcoin, Ethereum will draw their market strength from this key aspect

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Bitcoin and Ethereum are currently surviving a bearish scare, with both assets just about holding a position above their immediate supports. For Bitcoin, the $41,000-level is establishing a strong bounceback range while Ethereum has managed to remain above $3000.

On the contrary, some altcoins have recorded strong recoveries, with Solana, Bitcoin Cash, and Uniswap hiking by more than 10% in one 24-hour window.

Now, these altcoins seemed to have the relative edge at press time. However, there are a couple of key metrics which may allow us to evaluate the actual strength of Bitcoin, Ethereum as the market goes forward.

How much importance should be given to utility?

Source: Sanbase

Over the past few years, market stability has been dependent on different aspects. During the bullish rally of 2017, investor sentiment was key and when major traders started to become bearish, the digital assets collapsed.

Then, it was constructive institutional inflows at the beginning of 2019. At the time, it was suggested that institutions can allow tokens such as BTC, ETH to hold higher price positions. The price fell in 2020, irrespective of rising interest.

However, one key idea missed by most speculators might be the utility side of things, which is presently one of the most important functionality. Gone are the days when astute marketing allowed assets such as TRON to climb into the top-10.

Now, according to Santiment, Bitcoin has hit a two-month high in terms of circulation. What’s more, if the chart is closely observed, the average BTC transferred has risen consistently over the month of September.

Source: Sanbase

Similarly, Ethereum hit a similar feat but its 1-day circulation index was at a 3-month high, indicative of high token utility and movement.

Ethereum’s price has dropped sharply over the course of the past few weeks, but circulation has remained high.

Bitcoin, Ethereum spaces have evolved

Now, to be fair, it is important to account for volatility and the fact the circulation isn’t as high as it was during May 2021. However, maintaining a development and transaction-intensive ecosystem, one which allows the price to be built on strong foundations, is eventually advantageous.

Now, with respect to the assets that have grown over the past few days, besides BCH, both Solana and Uniswap are extremely utilized tokens. While one is the native token of a major DEX, another asset is currently responsible for bringing better L2 solutions.

Likewise, for Bitcoin and Ethereum, higher utility and circulation should keep the asset relevant, and progressively exhibit significant recoveries over Q4 of 2021.

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Source: https://ambcrypto.com/bitcoin-ethereum-will-draw-their-market-strength-from-this-key-aspect

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Swaps.app Offering Seamless Crypto Swaps With No KYC Process

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Swaps.app Offering Seamless Crypto Swaps With No KYC Process

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Swaps.app is simplifying how users are converting Bitcoin and other cryptocurrencies by eliminating the current barriers available in the market.

The EU-regulated company is changing how people swap cryptocurrencies for money with its “swap’n’Go” approach. The platform is a user-friendly space that allows anyone around the globe to effort conduct various trading activities.  

Swaps.app has various unique features. The platform notably offers low commissions and a faster transaction experience to its users compared to many other venues in the market.

Swaps.app offers the lowest fees in the industry while at the same time offering the best buying rates. Transactions performed on the Swaps.app employ price execution from top liquidity providers. In turn, this assures that Swaps.app customers get the best price possible for their purchase.

In addition, transactions on the platform take about 3 minutes. This is because there is no Know-Your-Customer (KYC) process and allows transactions to take three minutes to complete. This is a breath of fresh hair since the registration process associated with cryptocurrency exchanges is usually lengthy and cumbersome compared to most. The process has notably caused many people not to engage in cryptocurrency trade. 

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Another notable feature is that coins get to users’ digital wallets within 15 minutes of payment approval. Swaps.app has two currencies available for purchase, including Tether (USDT) and Bitcoin (BTC). Currently, the platform is accepting two payment methods, Visa and MasterCard debit and credit cards. Users can purchase varying amounts of cryptocurrencies up to €1,000 per month.

To merchants and developers, Swaps.app provides a convenient order widget that can be integrated into any webpage with just a few clicks.

In addition to being regulated by the authorities, Swaps.app integrates a full 3-DS V2 for safe and secure transactions. Reportedly, card purchases that use PCI DSS Level 1 certification will be authorized by code and verified by Visa or Mastercard ID Check.

Swaps.app is now available to over 160 plus countries and is available 24/7 throughout the year. The platform is owned and operated by Octo Liquidity, based in Tallinn, Estonia.

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Source: https://zycrypto.com/swaps-app-offering-seamless-crypto-swaps-with-no-kyc-process/

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