Blockchain

Stocks and Digital Assets Recover from Recent Pullback

In a flash, investors have gone from running for the hills to buying the dip. We’re talking from FUD to FOMO in under 24 hours. Don’t you just love these markets?

The post Stocks and Digital Assets Recover from Recent Pullback appeared first on Bitcoin Market Journal.

Published

9 months ago

September 10, 2020

Republished by Plato

Don’t you just love these markets?

The Nasdaq Composite is down about 10% from her peak last week. The dip on ether is more like 30% from tip to trough.

Further down the ladder we have DeFi, which is a world that exists under Ethereum within the sphere of FinTech, a subset of technology that hasn’t really penetrated the NASDAQ too much to date.

The total amount of money currently deployed in DeFi contracts almost hit $10 billion at the beginning of the month, before the slide.

Total value locked DeFi

What’s most awesome about this is the dominant project now accounts for less than 18% of the total market share, which tells us that the world of decentralized finance is getting progressively more … decentralized.

In fact, there are now four separate projects with an allocation of more than $1 billion and more than half a dozen more with an allocation greater than $100 million.

This is still a pretty small market, but the progress over the last few months has been astounding. Whether this bubble is about to pop or just in its infancy is impossible to tell at this point, but one thing is for sure. It’s very exciting to watch.

Almost like that song by Fastball: The Way

Drank up the wine

If there’s something that caught my eye in the news today it’s this new ETF that just came online at the NYSE today. As someone who’s spent a copious amount of time lately researching funds and fund structures, the listing of a new fund is interesting, but what’s more interesting is what it is investing in.

On Aug. 1 last year, I wrote a post titled Probably Nothing to Worry About, in which we explored a new trend at that time called CLOs, which are basically the corporate debt version of the retail-based CDOs that played a key role in the 2008 financial crisis.

Basically, they bundle up a bunch of corporate debt and make an investment product out of it. So this new ETF will be primarily investing in those. Now, there’s probably nothing to worry about here, but it does seem a bit cheeky that the ticker for this new ETF is AAA.

Especially at this time, it’s highly likely that a whole bunch of corporate debt will eventually default. So, is this just a clever way for the big banks to offload some of their garbage onto retail investors at a time when there are so many green participants that even bankrupt companies are pumping from hype?

In any case, it does sound a bit dubious. I think we’ll be steering clear of this one.

Source: https://www.bitcoinmarketjournal.com/stocks-and-digital-assets-recover-from-recent-pullback/

Blockchain

Coin Metrics Report Details Surges in ETH, Doge Trading

Published

41 mins ago

June 13, 2021

Republished by Plato

Digital currency research firm Coin Metrics has released a new report claiming that bitcoin is beginning to lag when compared with the likes of competing altcoins such as Ethereum and Dogecoin.

Coin Metrics: Altcoins Are Taking Over

While bitcoin is still the world’s number one digital currency by market cap (it is currently trading for about $35,000 per unit), the asset has experienced some serious dips over the past month, while by contrast, Dogecoin and Ethereum have exhibited gains and are regularly moving up the digital ladder.

Coin Metrics garnered much of the information for its report by looking at data from Binance, arguably the largest and most popular crypto exchange on the planet in terms of daily trading volume. Additional statistics were gathered from exchanges such as Coinbase and FTX. Coin Metrics points out that thus far, 2021 has been the year for “smaller altcoins,” suggesting that a great many of them have surged heavily between the months of January and early May. From there, however, a serious crypto crash has taken precedence, with Coin Metrics unable to pinpoint what, exactly, might have been the cause.

For the most part, numerous altcoin pairs are offered on Binance, which explains why the company’s trading volume for many of the world’s smaller assets likely overtook that of bitcoin. The report says:

ETH volume surpassed BTC volume on Coinbase by a wider margin than on Binance. Coinbase did not offer Dogecoin trading in May (although they introduced it in early June), so it did not have a Doge rush similar with Binance, but it did have a relatively high amount of volume for some other altcoins, led by MATIC, ADA and Ethereum Classic (ETC)… Continuing the trend, ETH volume edged out BTC on FTX, although not by much, but comparatively, the top altcoins made up a lower percentage of total volume on FTX than on Binance and Coinbase.

Some of the world’s smaller exchanges – such as Huobi – also saw Ethereum and Dogecoin trading surge to levels beyond what people were doing with bitcoin. The report continues to say:

Similar with Binance, DOGE volume surged on Huobi, taking the spot as the third most traded currency by volume.

Bitcoin Hasn’t Been Fully Cut Out Yet

The only place – according to the document – where bitcoin trading appears to remain dominant at the time of writing is the CME in Chicago, Illinois. The company delves in bitcoin futures trading and has recently opened the door to ETH futures, though this is still in its early stages. Coin Metrics writes:

The markets continued to move mostly sideways over the last week. Bitcoin and Ethereum usage both stayed relatively flat, with daily active addresses dropping 2.5 percent and growing by 3.3 percent, respectively. Ethereum daily transaction fees dropped by over 35 percent week over week as gas prices continued to fall, and bitcoin transaction fees followed a similar pattern, dropping by 40.5 percent.

Tags: bitcoin, Coin Metrics, dogecoin, Ethereum Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/coin-metrics-report-details-surge-in-eth-doge-trading/

Blockchain

Bitcoin Taproot upgrade finally achieves activation lock-in!

Published

1 hour ago

June 13, 2021

Republished by Plato

The much-anticipated Bitcoin Taproot upgrade passed the Speedy Trial, which was a signaling period which gauged support for the upgrade from bitcoin’s mining sector. Since SegWit, Taproot has been touted as the next significant upgrade for Bitcoin.

Data from Taproot.watch, a webpage created by Bitcoin developer Hampus Sjöberg, released an interesting yet hilarious video to announce the completion of the lock-in stage.

WE HAVE LOCK IN! 🟩 #Bitcoin #Taproot

Video by: @TheGuySwann!https://t.co/rCUp5VNCBX pic.twitter.com/YFLMTenWW0

— Hampus Sjöberg 🥕🟩 (@hampus_s) June 12, 2021

On the official page, it read:

“This period has reached 1815 Taproot signaling blocks, which are required for lock-in.”

Different mining pools tweeted their support for the upgrade on their respective platforms with Slush Pool being the first to do so.

TAPROOT LOCKED IN AT BLOCK 687285 BY SLUSHPOOL 🟩 pic.twitter.com/FFDdibtmGt

— pourteaux (@pourteaux) June 12, 2021

AntPool also supported the upgrade.

What’s next?

Bitcoin core developer Pieter Wuille further elaborated on the path leading to the full activation step for Taproot in a series of tweets. He stated:

“As of block 687284, Taproot signalling has reached 1815 blocks this period, guaranteeing that absent very deep reorgs, it is guaranteed to lock in. Following that, it will activate at block 709632, probably around mid-November 2021.”

He also addressed that ‘there is a lot of work left of course’, which included:

a) PSBT extensions to communicate Taproot keys/scripts/signatures,

b) MuSig2 standardization so the software can cooperate in signing,

c) Output descriptors,

Why is it so important?

Fred Thiel, CEO of Marathon Digital Holdings stated:

“With this upgrade, you’ll see Bitcoin to be the settlement network. Funds are transferred from one institution to another, say one bank to another.”

He added,

“The update would lower the data size of smart contracts, in turn lowering transaction costs. Taproot is also expected to enhance smart contract functionality and efficiency.”

Jeremy Rubin, a Bitcoin Core contributor and founder of Judica projected a similar optimistic narrative,

“With taproot, you get optimization of Bitcoin, much different from how people know Bitcoin today- little too inefficient or reveal too much information about what you’re trying to do. Taproot helps to be private and efficient.”

Subscribe to our Newsletter

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-taproot-upgrade-finally-achieves-activation-lock-in

Blockchain

Next-Gen Decentralized NFT Platform, NEFTiPEDIA Announces Launch of its ICO In 3 Days

Published

2 hours ago

June 13, 2021

Republished by Plato

Advertisement & &

NEFTiPEDIA, a next-generation decentralized NFT platform that operates in a way that contributes to the elevation of digital artists, creators, and investors has announced the launch of its ICO which is set to happen in 3 days.

NEFTiPEDIA has designed a commission-free platform to enable its artists to maximize income, following its aim to help them increase revenue via NFTs.

Following NEFTiPEDIA’s plans to storm the marketplace while launching its ICO, it aims to serve the marketplace with different categories of products including cosmetics, vehicles and property.

“….we believe NEFTiPEDiA will become a community-run marketplace and the industry will make our project as a kind and remarkable one in the world,” the announcement reads.

The development will see the platform provide a decentralized marketplace for Artists, where they can sell and validate their NFT links to fans and interested buyers.

Advertisement & &

NEFTiPEDIA Offers Exciting Prizes to Users

The team behind the project have allotted a total of 250,000,000 $NFT tokens for its users to enjoy in the upcoming ICO.

To further celebrate the intended development, the platform has proposed a referral scheme where winners can enjoy amazing and exciting prices.

Users who wish to participate in the program are required to sign up for the platform’s ICO panel and get a referral code.

The code can as well be shared with friends, giving users the opportunity to win exciting prizes.

A minimum of 5 referrals is required for participants to be considered for winning.

“Only those referrals ended in purchase will be added to the count. After the completion of ICO in 30 days, winners will be announced. Notably, winners will bear all the applicable tax.” The team further elaborated on the conditions for winning.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/next-gen-decentralized-nft-platform-neftipedia-announces-launch-of-its-ico-in-3-days/