Connect with us

Blockchain

The decade ahead

Realities that will redefine our borders and economy

Republished by Plato

Published

on

Money talks, no more

The fall of the “untouchable” also means that there is no more a single language for business. Money talks, no more. As the world witnessed the spectacle of printing fiat currency out of thin air for COVID-19 stimulus packages, it is about time that it realizes that true wealth does not come in monetary units. Being able to interact with fellow humans is a blessing. Being able to contribute, and add value, to the society you live is as well. Governments would soon realize having a hard-working population in a healthy environment, amongst other matters, is a state interest. Politics, the “management” of interests, as per “Western” political schools of thought, would become the new currency. As such, money, and, thus, business, will become heavily politicized. We are already seeing this as Big Tech censors the president of their motherland, and major outlets report their misunderstanding of Chinese politics as they claim the “Yuan” is weaponized. The Chinese government understands that money’s value is subject to its use. That is the transactional value of money is reaffirmed, as interest have dropped to lower-than-inflation or even negative rates. As mentioned while discussing building and dismantling suprastates, the best investment is that which amplifies one’s will, or, at the mesocscale, brings him closer to his value contribution.

Value would continue to be well-rewarded

Let us start by considering the poster-child for currencies-turned-speculative assets, Bitcoin. Bitcoin is estimated to consume 77 Terra! Wh of energy annually, the CO2-equivalent of nearly 2 million transatlantic flights. On top of that, this energy consumption is by design! It would only exacerbate as the Bitcoin becomes harder to mine. We need to stop this mockery. Sure, it might serve as a hedge against inflation. After all, it hit an all-time high of $40,000, double that of its previous bull cycle in 2017, $20,000, all while the U.S. printed $3 trillion to support the fight against COVID-19. Consider this for a second, the new bull run reached double the previous peak, as the U.S. nearly doubled its printed currency from $4 to $7 trillion. And what value did Bitcoin add? Speculation itself, is perhaps akin to a do-nothing scenario, yet another feat on the climate change scene.

Speculative investment inhibits growth. Consider how harder it is to mine Bitcoin, and help the platform achieve its true goal of decentralization, after it has been propelled by speculation. Similarly, the Lebanese real estate sector demonstrated the limits of speculation, or the “Greater Fool Theory”. This is not far from the subprime mortgage crisis of the late 2000s. Such lines of thought promote rent-seeking, seeking wealth gains without productivity increase. Historically, with Germany, Japan, Singapore and others, we’ve seen that the road to economic recovery started with labour-intensive industries. Even though construction is itself labour-intensive, real-estate speculation is not.

It is important to identify the lines between the two, as a booming real estate sector penalizes growth. At the very least, the population would not be content growing with overpriced land and housing. Let us look away from real estate to the industrial sector. As General Electric (GE), for example, restructured to meet its survival goals, it had cut down the revenue share of GE Capital arm from nearly 40% in 2008 to under 10% now. Consider also the automotive sector which had its time in the limelight following the Great Recession. Companies in the sector cash in nearly 80% of their revenue from after-sales and “financial” services. However, Tesla’s valuation is more than the largest 9 automakers combined. This is because regardless what we think of the company and its founder, its adding tremendous value to the industry, and on several fronts, electrification, self-driving development, and even industrial development and automation. Remember how it has been setting up factories in record times, as an example.

We must foresee an equitable world, despite ups and downs

Sure, the stock market has been doing great after its post-lockdown recovery. Compare this to Tesla’s nearly 1000% valuation surge, however. A lot of articles going around these days speak about inflation, I will spare you the record tape. In short, the investments that are typically marketed, in an almost Soviet-style orchestrated propaganda nowadays, at best are a store of value, not wealth-minting machine. The S&P 500 is projected to rise by 14% in 2021? Well, food prices have already soared 38% amidst the pandemic. The best way to build wealth remains to contribute your share of work to society. In short, as the world figures out fiat currency is no currency at all, investment stores value, while work creates it.

Think about it. I’m rather saddened by all those bright young men deluded that they will sell their lives and put it into some cryptocurrency, and live at the edge of life “until the time is right”. However, even Warren Buffet puts in hours learning and understanding the businesses he is going to invest in, only to serve on their boards and further guide the development of these businesses after he has already invested.

Source: https://medium.com/datadriveninvestor/the-decade-ahead-5e9a6216e5c2?source=rss——-8—————–cryptocurrency

Blockchain

What’s in store for SushiSwap in 2021?

Republished by Plato

Published

on

Decentralized exchanges or DEXs have been registering significant activity over the past few months and SushiSwap is right up there with Uniswap. However, the Sushi token has held its own in the market since being criticized for being another scam project.

Over the past few weeks, its performance has spoken for itself but since the collective bearish pull, few questions have again been thrown in its direction.

SUSHI registers contradictory signs

Source: Twitter

As illustrated by glassnode statistics, the transaction volume of Sushi on a 7-day average has reached an all-time high of ~$17.5 million. The transaction volume refers to the volume moved on-chain for Sushi. Higher movement on-chain is indicative of higher activity for the token but at the same time, SUSHI’s median transaction volume has reached a 4-month low, suggesting that the median value of the transaction has dropped substantially in the recent past.

Statistics drawn from Sushiswap’s website indicated that the 24-hour volume at present is around $306 million, which is still far away from its ATH of $1.6 billion registered on 23rd February. The drop in volume has been consistent with the recent pullback but over the past 24-hours, the volume is up 10.34%.

Source: Sushiswap

In contrast, total liquidity has taken a hit over the past 24-hours, dropping 13.52%, declining from $3.64 billion to $3.08 billion.

SushiSwap: Expansion is the way forward?

The on-chain metrics have not meddled with Sushi’s plan as according to Joseph Delong, CTO of Sushi.com. Sushi contracts are now deployed on different platforms which include Binance Smart Chain, Fantom, Polygon, Moonbeam, and xDai chain.

The industry is currently speculating that the move has been inspired by the current surging gas fees on Ethereum. While Ethereum is on pace to settle over $1.6 trillion in terms of transactions in Q1 2021, many projects continue to look at other scaling solutions for growth.

While Sushi will possibly continue to gain more on-chain volume from Ethereum than other platforms, its expansion to other blockchains can be taken as a sign of flexibility in terms of keeping the activity consistent for deployment.

Source: Trading View

Chart analysis suggested that the asset has dealt well during the bearish onslaught and a renewed bullish momentum may allow Sushi to scale towards a new ATH before the end of March 2021. Currently, moving above the 50-moving average, a bullish breakout could be on the cards for the token over the next few days.


Sign Up For Our Newsletter


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://ambcrypto.com/whats-in-store-for-sushiswap-in-2021

Continue Reading

Blockchain

Charted: Uniswap’s UNI Enters Top 10, Why It Could Soon Test $42

Republished by Plato

Published

on

Uniswap’s UNI climbed over 10% and it even broke the $34.00 resistance against the US Dollar. A new all-time high is formed near $34.60 and the price is likely to rise further.

  • UNI gained pace above the $30.00 and $32.00 resistance levels against the US dollar.
  • The price is trading nicely above $34.00 and the 100 simple moving average (4-hours).
  • There was a break above a key connecting bearish trend line at $28.00 on the 4-hours chart of the UNI/USD pair (data source from Kraken).
  • The pair is likely to continue higher towards the $36.50 and $40.00 levels in the near term.

Uniswap’s UNI Breaks $34

After a sharp downside correction from well above $30.00, UNI found support near the $20.00 level. It traded as low as $18.68 and it recently started a fresh increase. It broke many hurdles near $25.00 to enter a positive zone.

There was a clear break above the $28.00 resistance and the 100 simple moving average (4-hours). There was also a break above a key connecting bearish trend line at $28.00 on the 4-hours chart of the UNI/USD pair. The bulls even pushed the price above the $32.00 resistance.

Uniswap’s UNI

Source: UNIUSD on TradingView.com

A new all-time high is formed near $34.50 and it seems like the price could rise further. An immediate resistance is near the $36.50 level. It is close to the 1.236 Fib retracement level of the downward move from the $33.17 high to $18.68 low.

The next key resistance is near the $40.00 level. The next major stop for the bulls could be $42.00. It is near the 1.618 Fib retracement level of the downward move from the $33.17 high to $18.68 low.

Dips Supported?

If UNI price fails to settle above the $35.00 zone, it could correct lower. The first major support is near the $32.50 and $32.00 levels.

The main support is now forming near the $30.00 zone. A downside break below the $30.00 support might open the doors for a push towards the $27.50 support. Any more losses may possibly lead the price towards the $25.00 zone.

Technical Indicators

4-Hours MACD – The MACD for UNI/USD is gaining momentum in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for UNI/USD is well above the 70 level.

Major Support Levels – $32.50, $30.00 and $27.50.

Major Resistance Levels – $35.00, $36.50 and $40.00.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://www.newsbtc.com/analysis/uni/uniswaps-uni-enters-top-10/

Continue Reading

Blockchain

The number of BTC held on exchanges crashed 20% in 12 months

Republished by Plato

Published

on

Data from on-chain crypto information aggregator Glassnode indicates the number of Bitcoin held on centralized exchanges has fallen by roughly 20% in 12 months.

The data suggests investors are accumulating BTC and withdrawing them from exchanges into cold storage, creating a supply crunch.

On March 6, Glassnode also shared data revealing that coins purchased during 2021 were not moved at a loss during the late February dip, according to on-chain analysis.

The firm’s “Hodlwaves” metric, which measures the time since coins were last moved on-chain, also points to increasing accumulation activity.  Hodlwaves data published on Feb. 22 indicated 57% of Bitcoin’s supply has not moved in more than one year. However, more than one-third of said BTC have not moved in more than five years, suggesting that a significant portion of the coins may have been lost.

The increasing popularity of decentralized exchanges and DeFi yield protocols may also be driving the diminishing supply of BTC on centralized exchanges.

Evidencing strong demand for Bitcoin in the DeFi ecosystem, the total value locked, or TVL, of BTC tokenization protocol Wrapped Bitcoin has increased by more than $1 billion since the start of March, according to DeFi Llama.

Wrapped Bitcoin TVL: DeFi Llama

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
The Easiest Way to Way To Trade Crypto.
Check out Nord
Make your Money Grow with Mintos
Source: https://cointelegraph.com/news/the-number-of-btc-held-on-exchanges-crashed-20-in-12-months

Continue Reading
Blockchain5 days ago

Amplifying Her Voice

Blockchain3 days ago

How to Protect Yourself from the Cryptojacking Threat

Blockchain5 days ago

Will Netflix soon buy bitcoin?

Blockchain3 days ago

Experts divided on BTC predictions: Bullish or super bullish?

Blockchain3 days ago

BitGo To Introduce Crypto Custodial Services To New York Clients

Blockchain3 days ago

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

Blockchain3 days ago

Mark Cuban’s Dallas Mavericks to Accept Dogecoin Payments

Blockchain5 days ago

3 key Ethereum price metrics show pro traders are aiming for $2K ETH

Blockchain3 days ago

Ethereum gas fees drop as daily DEX and DeFi volumes decline

Blockchain4 days ago

XRP Price Analysis: 04 March

Blockchain3 days ago

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

Blockchain3 days ago

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

Blockchain3 days ago

Thailand’s largest movie theater chain accepts Bitcoin

Blockchain3 days ago

Decentralized Companies Are the New Norm and It’s the DAO Revolution That’s Making It Possible

Blockchain4 days ago

Bitcoin HODL Waves Suggest Bull Run Has Barely Started

Blockchain3 days ago

Co-founder of Floyd Mayweather-promoted ICO sentenced to 8 years

Blockchain3 days ago

Binance Coin, Neo, Enjin Price Analysis: 05 March

Blockchain4 days ago

Crypto fund KR1 makes investment in blockchain data protocol LazyLedger

Blockchain3 days ago

Blockchain Association meeting with key Biden staff about regulations

Blockchain3 days ago

Ripple’s Asia expansion unaffected by SEC lawsuit, says CEO

Trending