LONDON, May 31, 2021 (GLOBE NEWSWIRE) — Plethori, a cryptocurrency ETF investment platform, is offering investment opportunities into leading Insurance, NFT, and Oracle sectors.
In the crypto world, investment opportunities are plenty, but can appear scattered and complex. Plethori plans to help solve this problem. As crypto becomes more mainstream, emerging projects are combining the best of the traditional and decentralized markets in order to offer the greatest investment opportunities to serious investors. One such company is Plethori, a one-of-a-kind cross-chain investment platform built on the Ethereum and Polkadot blockchains. Their goal: to deliver Cryptocurrency Exchange-Traded Funds (ETFs) to the masses via their platforms.
Plethori is a Cryptocurrency ETF Investment Platform that allows the open trading and creation of trustless ETFs by utilizing blockchain technology and layer 2 solutions. The service will allow investors to deposit capital in the form of PLE tokens and invest in a wide range of ETFs enabling investment into entire industries in cryptocurrency such as insurance, oracles, NFTs, Derivatives, Polkadot ecosystem projects, and many more.
The cross-chain investment platform recently partnered with Shield Finance — a multichain DeFi insurance aggregator. Shield Finance has developed an insurance aggregator which enables investors to protect their portfolio against ‘black swan’ events such as hacks, exploits, rug pulls, market crashes. The partnership will provide Plethori’s users with the power to insure their investments against negative price movement. Shield Finance will deploy Market Crash Protection contracts to cover the $PLE token. Holders will be able to insure their tokens against loss, giving them the ability to sell their $PLE at a guaranteed price (irrespective of current market price). Plethori also has plans to explore deploying the same insurance contracts to cover their range of available ETFs.
Plethori Brings Financial Inclusiveness
Soon to be launched on the ethereum layer 2 solution Optimism, Plethori will be able to offer their users ultra-low transaction fees and fast trading whilst maintaining high security. The platform shall also provide ERC-721 integration, rewarding ETF creation and trading achievements and gratifying investment and trading. Plethori will utilize the Ethereum and Polkadot ecosystems, empowering traders by providing a wide range of ETF tokens to trade and invest in. This will allow for the leveraging of technology from both blockchains. The service will allow investors to create fully decentralized ETFs that can then be traded which will earn creators a share of the subsequent transaction fees. The leaderboard system will reward top-performing fund creators with NFTs which give perks on the platform and partner project platforms such as early access to releases and higher staking APY.
Some of the key features on the platform include: Metamask Wallet connectivity for trustless non-custodial transactions; Blank Wallet integration for secure, private transactions; ultra-low fees on transactions; margin trading; leveraged trading; advanced charting features; detailed asset information; cryptocurrency market analytics; portfolio management tools; PLE token staking and farming and a lot more.
Plethori Governance is the governance platform and a community forum where PLE token holders will be able to submit proposals and vote on platform changes which will be vetted and executed by using governance contracts. The community will be able to communicate with other equally dedicated members in the tiered groups on the platform and coordinate and propose changes to the Plethori ecosystem.
The governance structure will be a complex but fair tiered system with each holder initially holding an equal single vote and their vote growing in value in response to certain factors relating to usage and involvement in the ecosystem.
The metrics that will influence the governance tier level and strength of vote are: length of time holding PLE; length of time staking/farming PLE; frequency of usage of the Plethori platform; level of engagement in the Plethori Governance platform, and; community contributions.
This system allows for community control, which holds true to the original cryptocurrency ideals of decentralization and democratization.
The PLE token will additionally act as a governance token for the platform giving the community the power to direct the development and advancement of their goals. PLE token holders will be able to vote on the platform to determine fund parameters and new features. They’ll also be able to influence decisions concerning the project such as ETF asset rebalancing or listing/delisting of assets. The changes proposed will be vetted and then voted on through the governance platform. Any changes will be applied automatically via smart contracts.
Plethori is bringing an era of financial inclusiveness through its cross-chain investment platform that offers several investment opportunities via Defi to one and all. Their interoperable platform allows for seamless trading between the Ethereum and Polkadot ecosystems.
The platform guarantees more than simply an aesthetically thought-out UI but also an investor-centric feel to create the perfect blend between form and functionality.
Contact: Callum Mitchell-Clark
Email: [email protected]
Cardano Price Analysis: ADA Bears Take Control, Will $1 Hold?
ADA/USD – ADA Plummets Beneath The 100-day MA
Key Support Levels: $1.07, $1.00, $0.913.
Key Resistance Levels: $1.20, $1.30, $1.42.
ADA fell beneath the 100-day MA at $1.42 over the weekend and has since plummetted as low as $1 today.
The cryptocurrency was trading inside a symmetrical triangle pattern and broke toward the downside of the consolidation on Saturday. Yesterday, ADA slipped from the 100-day MA and fell beneath $1.20.
It continued today as ADA broke support at $1.12 (long-term .618 Fib) and dropped into $1 (short-term .886 Fib).
ADA-USD Short Term Price Prediction
Looking ahead, if the bears break $1.07, the first major support lies at $1.00 (200-day MA). This is followed by support at $0.913 (May lows), $0.847 (downside 1.272 Fib Extension), $0.8, and $0.75 (.786 Fib).
On the other side, the first resistance lies at $1.20. This is followed by $1.30 (bearish .236 Fib & falling trend line), $1.42 (100-day MA), and $1.50 (bearish .382 Fib).
The daily RSI reached extremely oversold conditions today, indicating that the sellers must be reaching exhaustion soon. The RSI is now the most oversold since September 2020.
ADA/BTC – ADA Loses 50-day MA and Drops To .5 Fib Support
Key Support Levels: 3440 SAT, 3200 SAT, 3070 SAT.
Key Resistance Levels: 3600 SAT, 3800 SAT, 4000 SAT.
ADA also lost crucial support at 3820 SAT (.382 Fib) this week. It had established this support in June and managed to close each daily candle above it through the month. ADA bounced higher from it over the weekend and climbed above the 50-day MA.
Unfortunately, it was unable to close above the 50-day MA at 4000 SAT and dropped lower from there yesterday as it fell beneath 3820 SAT (.382 Fib). Today, it continued until added support was found at 3440 SAT (.5 Fib).
ADA-BTC Short Term Price Prediction
Moving forward, the first support lies at 3440 SAT (.5 Fib). This is followed by 3200 SAT, 3070 SAT (.618 Fib & 100-day MA), and 3000 SAT.
On the other side, the first resistance lies at 3600 SAT. This is followed by 3800 SAT, 4000 SAT (50-day MA), and 4190 SAT (20-day MA).
The RSI is in bearish territory and is still not oversold. This indicates that there might be some more selling pressure on the way.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
War on Illegal Bitcoin Mining: Iran Confiscates 7,000 BTC Mining Machines
Iranian authorities have confiscated about 7,000 cryptocurrency mining machines. The latest development is in line with Iran’s crackdown on illegal bitcoin mining activities.
- According to Reuters on Tuesday (June 22, 2021), General Hossein Rahimi, Tehran police chief, revealed that the computer miners were found at an abandoned factory in Iran’s capital, which was used to carry out illegal cryptocurrency mining activities.
- The latest seizure is the largest ever carried out by Iranian authorities. Back in January, the Iranian government confiscated over 1,500 unlicensed crypto mining farms. In the same month, authorities seized 45,000 bitcoin mining rigs.
- Iran’s cheap electricity has seen an influx of bitcoin miners to the country. A study by Elliptic, a blockchain and crypto analytic firm, showed that Iran accounts for over 4% of bitcoin mining.
- However, the government seems to have come down hard on the bitcoin mining sector, with various operations targeted at illegal BTC miners. According to Iran, bitcoin mining activities allegedly affected the country’s electricity supply.
- As reported by CryptoPotato in May, the Iranian government placed a temporary ban on BTC mining untill September 2021. The country earlier stated that it would fine miners using household electricity for bitcoin mining.
- While Iran is clamping down on illegal bitcoin mining activities, China is carrying out a nationwide crackdown on the sector. Regions like Xinjiang, Mongolia, Qinghai, and Yunnan have issued notices for miners to shut down operations.
- The clampdown on Chinese bitcoin miners has consequently led to a sharp drop in hashrate by nearly 50%.
UTU and Ocean Protocol Partner to Enhance Trust in the Data Economy
[PRESS RELEASE – Please Read Disclaimer]
Nairobi, Kenya, June 21, 2021 – UTU, a decentralized trust infrastructure provider building new models of digital trust via artificial intelligence and blockchain, has partnered with Ocean Protocol to launch its trust infrastructure on the Ocean Market.
Ocean Protocol is an ecosystem that unlocks the value of data. Data owners and consumers use the Ocean Market app to publish, discover, and consume data assets in a secure, privacy-preserving fashion.
UTU’s trust infrastructure will create trust signals for each data provider, consumer, and dataset based on platform activity and user ratings and reviews. This will lead to increased trust and transparency for Ocean Market and help users easily discover quality datasets from trusted data providers.
UTU and Ocean will also explore ways to share data between their protocols, including putting publicly-available, on-chain UTU data on the Ocean Market and purchasing datasets on the Ocean Market.
“Ocean Protocol’s mission is all about creating a trustless system for sharing data, so we’re very excited about our joint venture with UTU,” Manan Patel, Ocean’s Growth Accelerator noted. “It’ll allow good actors on Ocean Market to display the trust they’ve earnt in the marketplace, which in turn will incentivize others to trust those actors again and again – a virtuous cycle of transparency and trust without centralized intermediaries.”
Jason Eisen, UTU’s Co-founder and CEO, agreed: “UTU and Ocean Protocol share the beliefs that 1) data is a new asset class and 2) data privacy is of utmost importance. We’ve studied their data models in the past and are impressed by the ecosystem that they’ve built. This is why we’re so excited to partner with them to increase trust in their data marketplace and facilitate data sharing between our platforms in a privacy-preserving way.”
UTU is building the trust infrastructure of the internet to help businesses and consumers engage and transact in an easier, safer, and more trustworthy way.
Our AI-based API products collect and analyze data to create trust signals and personalized recommendations that help consumers and businesses make the best decisions for their situation. The UTU blockchain protocol rewards users for trustworthy actions and compensates them for sharing their data in a privacy-preserving way.
Sichuan Shutdown Order Cripples Chinese Bitcoin Mining Pools
Coin Cloud Set to Operate 2000 Crypto Kiosks This Year
Paraguayan Official Confirms: In July We Legislate Bitcoin
Global Financial Indexes Provider MSCI Plans to Launch Crypto Indexes
This Bitcoin HODLer Metric Has Just Flipped Green For The First Time In 8 Months – Here’s What This Means
Ethereum On-Chain-Analyse: Interesse trotz Drop groß
U.K’s crypto-users are growing in number, but do they even understand the asset class?
The End of NFTs? NFT Sale Transaction Volume Down 95% Since Early May
WAVES Technical Analysis: Price Can Move Either Ways
Tezos, Algorand, Zcash Price Analysis: 19 June
What governments don’t realize is going to happen with Bitcoin
When does Naraka: Bladepoint release?
Top DeepMind AI Products Revolutionizing The World
Sichuan province in China asks crypto miners to shut down operations
Alstef Group launches new software suite
Alinity talks ASMR meta, Amouranth and indiefoxx Twitch bans
Banks Afraid Of the Risks Associated With Crypto Assets Call for Regulation
Call of Duty League Stage 4 Major Standings
Legends: The premium NFT minting platform
Crypto Analyst Predicts Bitcoin Price Will Reach ‘$150,000 by December 15th, 2021’
Blockchain5 days ago
GSA To Add Litecoin For The First Time In Upcoming Cryptocurrency Auction
1 week ago
Valorant Ep. 2 FORMATION Player Card: How to Claim
News1 week ago
The World Economic Forum’s Cryptocurrency Guide Lists Its Choice Of “Winning” Projects
Uncategorized6 days ago
The World Bank wants no part in El Salvador’s Bitcoin revolution
Uncategorized1 week ago
Mark Cuban: DeFi could be the ‘next great growth engine’ for the US
Blockchain6 days ago
Survey: Hedge Funds Intend To Hold $300 Billion In Crypto Within 5 Years
Uncategorized6 days ago
Healthcare: A trillion dollar opportunity for blockchain?
Uncategorized1 week ago
Banks Should be Scared of DeFi Warns Mark Cuban