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The #BFC2017 Interviews – Giovanni Lesna of Hedge Token

This is part of our series of article’s and interviews from this year’s Blockchain For Finance Europe 2017  conference at the Aviva Stadium on 3rd & 4th of October. Click here to see the full list On a bright and actually not bad Dublin morning on the 3rd of October, I attended Blockchain for Finance Europe at the invitation of organisers Fintech Network on behalf of BitcoinsInIreland.com. While not the largest event by European standards, and also clashing for attention with an event in Barcelona, nonetheless about 250 people joined a host of local and international people from a cross

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This is part of our series of article’s and interviews from this year’s Blockchain For Finance Europe 2017  conference at the Aviva Stadium on 3rd & 4th of October. Click here to see the full list


Giovanni Lesna of Hedge Token

On a bright and actually not bad Dublin morning on the 3rd of October, I attended Blockchain for Finance Europe at the invitation of organisers Fintech Network on behalf of BitcoinsInIreland.com. While not the largest event by European standards, and also clashing for attention with an event in Barcelona, nonetheless about 250 people joined a host of local and international people from a cross section of the blockchain sector. Among the booths, with the fantastic backdrop of the Aviva Stadium’s pitch, I sat down to talk with Giovanni Lesna, a South African gentleman who is Business Development Manager in the Hedge Crypto team based in the blockchain friendly canton of Zug in Switzerland. He was in Dublin to network, showcase his brand, and also meet with some of the many in attendance as they look for a retail partner.

Their token sale is running until October 15th at https://www.hedge-crypto.com/crowdsale/. The current crowdfund has already exceeded it’s soft-cap of $1.5m which it reached a number of days ago, and has 48 hours to go at time of writing ending on 15th October at noon CET. On how Giovanni found running an ICO, he said it was many things, plus little sleep.

He introducing their platform, Hedge, which provides publicly available market data on cryptocurrencies and companies using different post-ICO ERC-20 and other forms of tokens, and an index called the CCX30 to give a S&P500 style index to enable those interested in the sector to benchmark and evaluate the top performing cryptocurrencies. They also have a strategic partnership with Rialto to use their infrastructure and services. This is the first with an official public rulebook explaining how the index is calculated, and adjusts to changes in market capitalisation. They have signed deals with Reuters and Morningstar to have their CCX30 listed on the respective tickers, as well as now running the Buchman Crypto 30 Index (factsheet). They are also integrated with the Icon Trading platform from the UK, where people can pull in data from the index and monitor in real time.

Their crypto top 30 represents 90% of the total cryptocurrency market capitalisation, which now numbers approximately 1,000 different altcoins, each with their own applications or uses, and new being added every day.  Funds raised from the crowdfund will be going into product development to be one of the first EU Regulated, KYC/AML compliant EFT’s on the European market, and building out the team & trading platform, security, escrow and multi-sig wallets to ensure a safe and secure end-user experience. They are also building an underlying platforms to enable people to trade all of the different coins on the index, with their distributed team, 60% based in Slovenia, with team members in Zug, Switzerland, the UK and South Africa.  Later in the road map, they also plan to develop tools for derivatives and options, as well as different tools to enable investment diversification.

As with every person running an ICO, I asked what the point of the token was then? Giovanni explained that it is a utility token to transact on the platform. Every time you choose to buy an index, you can use the tokens for the purchase and to pay transaction fees, which are competitively priced at less than 1%. Similar to passive investment offerings like Vanguard, iShares or Blackrock, this would enable investors who have an interest in cryptocurrencies to narrow down their investment choices with vetted and screened cryptocurrencies with a strong underlying point giving them value.

So best of luck to them with the project, and we hope they had a nice couple of days in Dublin. Over the coming weeks we’ll be publishing a series of articles and interviews on the BFC2017 show, click here to see the full list.

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Source: https://bitcoinsinireland.com/the-bfc2017-interviews-giovanni-lesna-of-hedge-token/

Blockchain

Bad guys can’t cash out their loot in 2016 Bitfinex hack

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Assets stolen from Bitfinex crypto exchange in a hacking incident back in 2016 will take over a century to be cashed out, blockchain intelligence firm Elliptic said in its latest report.

On Thursday, the company published a statement about the infamous hack that resulted in Bitfinex losing 120,000 bitcoin (valued today at around $7 billion). It detailed nearly 80% of the illegally obtained funds are still in the hacker(s) wallet.

The remaining 21% have been moved around by the malicious cyber attackers that have only managed to launder 4% of their total haul, which is approximately $270 million.

A roadblock for the attackers

Elliptic pointed out that the reason for their thesis is the evolution of crypto tracking tools, regulations, and law enforcement methodologies that make stolen or ill-gotten digital assets very challenging to cash out today.

The intelligence company explained that the hackers used “peel-chains” to exchange the stolen funds. In this method, crypto tokens are moved around numerous times, moving fast from wallet to wallet, and only a small amount of the bitcoin is “peeled off to their actual destination along the way.”

Back then, it was extremely hard to track crypto-assets laundered using this method. But today, the emergence of automatic tracing systems capable of determining the ultimate source or funds in an address makes the job a lot easier for the authorities.

The hacker after the cyber attack

After the successful attack on Bitfinex in 2016, the laundering process started in 2017 through the largest darknet market that time – Alphabay. Later that year, it was shut down by law enforcement, prompting the move to Hydra – the biggest illegal marketplace today.

Cryptoslate cited part of the report from Elliptic, stating, “After a hiatus in 2019, the launderers returned to Hydra in 2020 and are currently depositing $3 million of the stolen bitcoin every month.”

According to the report, to date, there is now approximately $72 million worth of the stolen cryptocurrency sent to Hydra.

 

Image courtesy of Cointelegraph News/YouTube

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinerx.com/blockchain/bad-guys-cant-cash-out-their-loot-in-2016-bitfinex-hack/

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Blockchain

Three reasons why Cardano is going on this price trajectory

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Rising trade volume across spot and derivatives exchanges have supported Cardano’s ongoing price rally over the past few weeks and months. The altcoin, at the time of writing, was trading at the $2.32-level, with the crypto gaining by 20% in 24 hours to touch one ATH after the other. The aforementioned hike in price and trade volume were evidenced by the increase in market capitalization as well.

Thanks to the aforementioned factors, Cardano is now ranked third among the market’s top-10 altcoins, based on data from CoinMarketCap.

What’s more, based on the attached chart, currently there is more ADA staked than in the past 30 days. In fact, it is at nearly half a million. With 100% of its HODLers profitable at the press time price level, ADA’s rally is likely to be a long one, especially with the altcoin’s staking rewards data offering a similar conclusion. With a relatively high percentage of ADA staked, a direct relationship has emerged between staked ADA and ADA’s price.

While the current on-chain sentiment is slightly bearish, the net network growth stood at a positive 5%. Further, while there has been a slow drop in large transactions, that could mean that more retail traders are buying ADA v. HODLers and institutions. Unless trade volume drops and cascading sell-offs occur, the price is likely to hold at its current price level.

In the case of Cardano, the concentration by large HODLers has remained largely below 30% and this is key to its ongoing rally. Top memecoins and altcoins that are rallying like DOGE, LINK, BNB, and ETH, among others, have a high concentration by large traders. This is essential to supporting the price at its key levels.

$80 billion worth of large transactions have transpired over the past week and the inflows are anticipated to increase even more. Less than 15% HODLers have held ADA for over 12 months, despite YTD gains of over 500%. And, ADA’s HODLers are lower in numbers than expected. Ergo, the short-term ROI could be the key reason for the short HODLing duration.

Based on data from Messari, the ROI over the past week was nearly 40%.

Why Cardano's price rally is a long one

ADA short-term ROI || Source: Messari

In the past year, the ROI was over 700%. This is a relatively high gain for HODLers, despite several dips.

ADA’s latest developments and the increasing demand in the second phase of the altseason make it one of the hottest altcoins to buy and HODL. In fact, one can argue that ADA continues to remain undervalued at the press time price level.


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Source: https://ambcrypto.com/three-reasons-why-cardano-is-going-on-this-price-trajectory

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Data shows the ‘Bitcoin price drops ahead of CME expiries’ claim is a myth

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Historically, activity surrounding the Bitcoin (BTC) monthly futures and options expiry has been blamed for weakening bullish momentum. A few studies from 2019 found a 2.3% average drop in BTC price 40 hours before the CME futures settlement date. 

However, as Cointelegraph reported in June 2020, the effect faded away. While 2020 seems to have rejected the potential negative impact of CME expiries, so far, the current year appears to validate the theory. Bitcoin’s price has been suppressed ahead of futures and options expiry in the first three months of 2021.

Bitcoin performance before and after CME expiry, USD. Source: TradingView

Some investors and traders have pointed out that Bitcoin’s incredible rally after the recent futures and options expiry dates has become a trend.

BTC has effectively rallied in the days following the expiry, but expanding this analysis uncovers a less-than-satisfactory trend.

Three consecutive events don’t prove a trend

The past 13 months have been nothing short of spectacular for Bitcoin, as the cryptocurrency posted 788% gains. August 2020 turned out to be the worst month, as BTC presented a 7.5% negative performance. Thus, choosing random starting points within the month will likely show a similar positive trend.

For example, if one uses the “last quarter” moon phase as a proxy, the odds that a rally takes place after each event are very high.

Bitcoin performance after “Last Quarter” moon, USD. Source: TradingView

As depicted above, indeed, Bitcoin rallied after five out of the last six instances. The only conclusion might be that positive trends are the norm rather than the exception during bull runs.

Although there might be some explanation to the reason behind Bitcoin’s end-of-the-month underperformance, these are only hypotheses.

While market makers and arbitrage desks could benefit from suppressing the price after a rally, other forces, including leverage futures longs and call option holders, would balance that out.

Bitcoin price did not drop in three of the last seven expiries

Therefore, it makes sense to analyze the potential price suppression ahead of the expiry instead of looking for explanations for a rally during a bull market.

Bitcoin performance before and after CME expiry in 2020, USD. Source: TradingView

Both October and December 2020 expiries failed to present any negative pressure ahead of such dates. Meanwhile, the 12% positive performance on the five days that preceded the most recent April 30 expiry also puts a big question mark on how meaningful the CME event really is.

Considering there hasn’t been a price decrease ahead of monthly futures and options expiries in three of the last seven instances, this evidence should put a nail in the coffin of the unfounded myth.

As mentioned earlier, trying to develop theories on why sellers acted more aggressively on specific dates is unlikely to yield results.

As shown above, Bitcoin’s price failed to underperform in three out of the last seven expiries. A 57% success rate should not define a trend when a positive performance after a specific date has been proven common during a bull run.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/data-shows-the-bitcoin-price-drops-ahead-of-cme-expiries-claim-is-a-myth

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