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KuCoin to Airdrop Kratos’ KTS Test Token, Launch the Velo IEO on their 3rd Anniversary

KuCoin — a global cryptocurrency exchange based in Singapore with a presence in over 100 countries and serving more than five million clients, is today marking its third business anniversary. To celebrate, it is closely working with KuChain — a financial public blockchain under development by KuCoin Group, to airdrop KTS tokens to dedicated clients. 

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KuCoin — a global cryptocurrency exchange based in Singapore with a presence in over 100 countries and serving more than five million clients, is today marking its third business anniversary. To celebrate, it is closely working with KuChain — a financial public blockchain under development by KuCoin Group, to airdrop KTS tokens to dedicated clients. 

Kratos (KTS) Details

KTS is the native coin of the KuChain Testnet, Kratos.

Kratos is cordial with KuChain in terms of architecture, design, and concept, designed to be a testing environment for decentralized finance product pioneers tagging secondary benefits of trying out KuCoin’s other functionalities like governance and staking.

KuChain is now conducting the KTS initial coin distribution following the successful launch of the KuChain Betanet Events Phase I in July 2020.

To earn KTS test tokens, users should participate in a Lockdrop on the Pool-X platform ahead of the scheduled opening of the Betanet Events Phase II. Once Kratos officially launches, KTS test tokens will be upgraded as a coin priming the mainnet.

KuCoin Milestones Since 2017

After launching operations in September 2017, its customer base is growing at a steady rate. The on-demand and regulatory compliant cryptocurrency exchange continue to register success as it adapts to the evolving cryptocurrency market and changing customer needs. 

Notably, KuCoin provides a series of cryptocurrency-related financial services. Traders can link their bank accounts to the exchange’s wallet allowing them to directly deposit or withdraw funds. Besides, there is support for crypto-to-crypto trading, P2P trading, derivatives, staking support, lending, and a token launchpad for blockchain projects seeking to crowdfund from a secure and trusted ramp. 

Driving this is the exchange’s unwavering angling for quality and the adoption of a layer-1 security layer of a strict vetting process for projects seeking to list to cushion the end-user against fraudulent open systems chiefly characterized by weak security measures or a lack of a developed ecosystem. 

To counteract malicious attacks, KuCoin has an in-house WAF protection system. Since launch, it has safeguarded the exchange, successfully deterring over 10 billion attempts in the last three years alone. 

As part of their stringent quality control and assurance, KuCoin has a dedicated team of experts who spent hours every day scouring the blockchain space for top-notch quality projects.

This explains why KuCoin supports 250+ high-quality blockchain projects supplemented by innovative products such as KCS bonuses, KuCoin Lending, Pool-X, among others, directly benefiting their diverse clientele. 

These complementing ancillaries have seen KuCoin clients reap more than 5 million USDT in profits. Other than incentivizing programs and easy-to-use features, KuCoin’s derivatives platform is powered by a Level-3 trading mechanism allowing for transparent and near-instantaneous order execution.

Despite their overwhelming success and solutions that resolve previous pain points, KuCoin continues to explore other verticals to provide even more lucrative opportunities for their clients. 

Kratos to Resolve DeFi Pain Points, KTS Airdrop

KuCoin’s gravitation to decentralized finance and the airdropping of the KTS is advised from positive developments around open finance.

Lauded by financial analysts, the vibrant and fast-paced sub-sector continues to draw liquidity to DEXes, triggering another wave of IEOs as ambitious DeFi projects search for the best means of raising capital and achieve their goals. 

Thus far, the transformative DeFi scene continues to expand, locking billions worth of tokens–of which most are in Ethereum. However, the pioneer smart contracting is faced with unprecedented scaling challenges forcing transaction fees through the roof.

In a bid to resolve this nagging issue, KuChain is building a high-performance public chain. Kratos will be the testing environment building a four-layer network to sufficiently serve and satisfactorily meet the needs of a modern-day DEX, eventually resolving problems rampant in the DeFi field.

Additionally, Kratos will modularize its functions and protocols, while concurrently working towards improving its use case.

The Eight Spotlight: Velo

Aside from the Airdrop, KuCoin will officially launch the eighth IEO project, Velo, via its Spotlight launchpad on Sep 5. 

After activation in March 2019, seven blockchain projects have successfully raised funds directly from KuCoin clients with KCS token as a funding conduit through the Spotlight. In essence, the goal of Spotlight is to help the project raise funds, access immediate liquidity, and build influence cheaply and efficiently.  

Velo is the largest DeFi project in South East Asia and will become the eighth project to raise funds through KuCoin’s Spotlight. The DeFi giant wants to build a decentralized settlement network where trusted partners can, promptly, securely, and transparently transfer value by leveraging smart contracts.

Their immediate focus is to onboard remittance and money transfer agencies in South East Asia before expanding to the whole of Asia.

The success of Spotlight’s projects translates to positive gains of KuCoin’s native token, KCS. Reflecting on the popularity of the exchange, not only has KuCoin helped two quality projects crowdfund, but KCS continues to outperform those from competing exchanges. 

Since KCS is needed to participate in an IEO, it is highly likely that the KCS token will rise in tandem.

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Source: https://btcmanager.com/kucoin-airdrop-kratos-kts-test-token-launch-velo-ieo-3rd-anniversary/

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TA: Bitcoin Price Back Below 100 SMA, Why BTC Could Retest $45K

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Bitcoin price failed to stay above $50,000 and $49,000 against the US Dollar. BTC is now below the 100 hourly SMA and it is likely to continue lower towards $45,000

  • Bitcoin started a fresh decline below the $50,000 and $49,000 support levels.
  • The price is now trading well below $50,000 and the 100 hourly simple moving average.
  • There is a connecting bearish trend line forming with resistance near $49,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could extend its decline towards $45,000 as long as it is below $50,000.

Bitcoin Price Turns Red

After forming a short-term top near the $52,600 level, bitcoin started a fresh decline. BTC traded below the $51,200 and $50,000 support levels to move back into a negative zone.

There was also a break below a major bullish trend line with support near $49,500 on the hourly chart of the BTC/USD pair. The pair even broke the $48,000 support level. There was a clear break below the 50% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.

It is now trading well below $50,000 and the 100 hourly simple moving average. It seems like the bulls are trying to protect the 61.8% Fib retracement level of the upward wave from the $43,050 swing low to $52,650 high.

Bitcoin Price

Source: BTCUSD on TradingView.com

If they fail and the price trades below $46,500, there are chances of more losses. The next key support is near the $45,000 level, below which the bears might aim a test of the $43,000 support zone.

Fresh Increase in BTC?

If bitcoin stays above $46,500, it could correct higher. An initial resistance on the upside is near the $48,000 level. The first major resistance is near the $49,000 level and the 100 hourly simple moving average.

There is also a connecting bearish trend line forming with resistance near $49,000 on the same chart. To move into a positive zone, the price must clear the trend line resistance and then gain pace above the $50,000 barrier.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.

Major Support Levels – $46,500, followed by $45,000.

Major Resistance Levels – $48,000, $49,000 and $50,000.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-could-retest-45k/

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Analyst tells Tesla to dump Bitcoin for buybacks as shares plunge alongside MSTR’s

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A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares.

The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition.

MicroStrategy’s shares have fared even worse in the short term. The company, which is headed by Bitcoin bull Michael Saylor and just completed its latest acquisition of $15 million in BTC on Mar. 3, is now down 50% from its all-time high of $1,315 from Feb. 9.

Tesla’s share market woes are likely due to a number of factors. In early February, it was reported that Tesla had been reprimanded by the Chinese government over quality control issues after receiving consumer complaints. The broader stock market has also experienced volatility, with the S&P 500 down 4.1% in the last 30 days. 

But the tweet from longtime Tesla analyst Gary Black, who has several decades of financial management experience, sparked a debate on whether Tesla’s purchase of $1.5 billion in Bitcoin last month had benefited investors.

“I don’t want them buying back stock,” said Twitter user Techgnostik. “I want them investing in growth, and making another billion on their BTC position.”

Black countered by suggesting TSLA would also draw inclusion by more fund managers with a share buyback program, considering it of greater value to the investor than buying BTC “with excess cash.”

Some users on Twitter agreed that a stock buyback seemed to be a more appropriate use of funds, while others felt too much attention was being paid to what Tesla did with 8% of their cash reserves.

It’s not easy to ascertain the impact buying Bitcoin has had on a company’s bottom line. While MicroStrategy’s share price has halved in a month, shares of MSTR are still up 340%, (from $146.63 to $645.66), since the company announced its first purchase of 21,454 BTC on Aug. 11, 2020. The price of BTC is currently up 310% from the same date.

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Source: https://cointelegraph.com/news/analyst-tells-tesla-to-dump-bitcoin-for-buybacks-as-shares-plunge-alongside-mstr-s

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Experts divided on BTC predictions: Bullish or super bullish?

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Despite the current battle between Bitcoin bulls and bears around the $50,000 price mark — and an 8.7% pullback over the past 24 hours — a raft of analysts and commentators have got out their crystal balls to tip a glittering future for Bitcoin prices.

On Mar. 4, Senior Commodity Strategist for Bloomberg Intelligence Mike McGlone pointed to historical data to suggest that Bitcoin is on the way to $100,000.

McGlone’s logic revolves around the growing discount for shares in the Grayscale Bitcoin Trust which is at the same level as last year’s Black Thursday collapse. The discount refers to when shares in the Grayscale Bitcoin Trust trade for less than the value of the underlying Bitcoin (normally they trade at a premium).

Looking at historical data, said that

Twitter user “Lee Hendricks” wasn’t convinced, suggesting the catalyst for Grayscale’s discount could be the result of pressure from upcoming ETFs and other crypto funds. (Although that’s arguably bullish too.)

The Bloomberg strategist isn’t the only expert with high expectations for BTC, with influencer and YouTuber Lark Davis stating on Mar. 4 that “we are just now past the first major price wave,” with two more, larger waves to come.

On March 2, technical analyst Kaleo posted a chart predicting BTC will hit $100,000 near the start of April this year.

It’s a follow-up on his “Bitcoin Halving Reward Era Price” analysis chart two years ago predicting the price would reach $200,000 around mid-2021. He tweeted two weeks ago that he still has faith in it:

“It is by far the most accurate, long-term chart prediction I’ve ever seen for Bitcoin… $BTC will hit $200K+ this cycle.”

Another analyst who goes by the Twitter name MasterChangz, told his 10,000 followers he believes Bitcoin will hit the $200,000 mark even earlier than mid-2021, potentially at the start of April. The next rise, he said, is to $77,000 over the next two weeks.

Other predictions are even bolder with Kraken CEO Jesse Powell stating the cryptocurrency could reach $1 million or even “infinity” in a Bloomberg television interview on Mar. 4, adding that it will eventually become the world’s currency.

“We can only speculate, but when you measure it in terms of dollars, you have to think it’s going to infinity,” he said. “The true believers will tell you that it’s going all the way to the moon, to Mars and eventually, will be the world’s currency.”

Kraken Head of Growth Dan Held, echoed this prediction on Mar. 5, claiming on Twitter that:

“Bitcoin is more likely to hit $1,000,000 than $0.”

Even past Bitcoin skeptics are becoming crypto converts with investment firm Sanders Morris Harris CEO George Ball admitting to Yahoo Finance on Mar. 4 that he believes cryptocurrencies are now “attractive” as a “small part” of any portfolio.

“With the cryptocurrencies, I think there is a fundamental hydra-headed shift that makes them attractive as a part, a small part, of almost any portfolio,” Ball said.

Despite this wave of optimism, history also suggests March could be a bloody month, with Bitcoin’s price falling across the month in six of the past nine years by an average of 5.8%. The most recent of these occurred last year on Black Thursday when the price plunged by 50%. That said, the second-biggest monthly candle in BTC history happened in March 2013, when the price shot up 179%.

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Source: https://cointelegraph.com/news/experts-divided-on-btc-predictions-bullish-or-super-bullish

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