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TRENDE Secures Series B Funding, While Establishing Strategic Partnership with ITOCHU

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TOKYO, Jun 18, 2020 – (JCN Newswire) – TRENDE Inc., a renewable energy retailer in Japan, announced today that it has successfully completed a Series B funding round from ITOCHU Corporation of 1 billion yen in a combination of equity and unsecured convertible bonds.

“We’re extremely pleased to have ITOCHU as an investor and partner in our mission to accelerate the widespread adoption of renewable energy in Japan,” said Tadatoshi Senoo, CEO of TRENDE. “Bringing together TRENDE’s expertise in distributed energy with ITOCHU’s leadership in energy storage systems creates a really powerful combination. We are jointly developing a new service that combines distributed solar generation with energy storage and expect to release it later this year.”

TRENDE’s current products include “Ashita Denki,” an online service offering residential customers simple and affordable energy plans and “Hot Denki,” a service incentivizing customers to become prosumers with an innovative third-party ownership model that enables homeowners to gain the benefits of having a solar system on their roof without the upfront costs of purchasing the system. TRENDE is also developing a peer-to-peer (P2P) electricity trading system in order to further facilitate the efficient use and adoption of renewable energy.

ITOCHU is the leader in Japan’s energy storage sector. The company has sold more than 30,000 of its “Smart Star” energy storage systems as of the end of March 2020 and integrated these systems with Moixa’s “GridShare” AI software to create a next-generation energy storage system. The company’s growing energy storage systems business helps to reduce greenhouse gas emissions by increasing the ratio of renewable energy, ensuring a stable power supply and realizing a distributed energy society.

“Given the intermittent nature of many renewable sources, energy storage has a critical role to play in facilitating society’s widespread adoption of renewable energy and the shift away from burning fossil fuels,” said Hiroaki Murase, General Manager of Sustainable Energy Business Department at ITOCHU. “We are excited to partner with TRENDE and share a common vision for a distributed energy society powered by renewable energy.”

About TRENDE

TRENDE Inc. is an online renewable energy retailer selling electricity to residential customers in Japan via its Hot Denki (https://hotdenki.jp) and Ashita Denki (https://ashita-denki.jp/) service websites. TRENDE’s mission is to accelerate the widespread adoption of renewable energy and redefine the energy ecosystem in Japan with a customer-centric business model and innovative P2P platform. The company’s investors include Tokyo Electric Power, Itochu, Idemitsu and Dubai Electricity and Water Authority. For more information, please visit http://trende.jp/.

About ITOCHU Corporation

The history of ITOCHU Corporation dates back to 1858 when the Company’s founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years. With approximately 110 bases in 63 countries, ITOCHU is a major general trading company that develops a wide range of businesses globally in the fields of textiles, machinery, metals, energy, chemicals, food, living, information, and finance. In 2015 the company became the number one general trading company based on the strength of its non-resource related businesses. Consolidated net income in fiscal 2019 was 501.3 billion yen, the second consecutive year it exceeded 500 billion yen.

Source: http://www.jcnnewswire.com/pressrelease/59659/3/

Blockchain

Solana, Polkadot, Algorand: What is the Bitcoin effect on these altcoins

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With the market trading in red today pretty much all coins including Bitcoin and Ethereum are falling. However, there are some coins that made excellent gains in the last 2 months which are now facing huge price falls as well.

Which alts though?

Solana, Polkadot, and Algorand were three altcoins that successfully rallied between July and August. Polkadot rose from $12.34 all the way to $34.45 registering a 214.33% growth. Similar gains were observed for Algorand as the coin breached $2 and marked a 230.26% rise. 

The most gains were seen by Solana holders though mainly because the altcoin shot up 713.94%. An increase this high was the result of the NFT hype which took it up from $26.68 to $191.07

Solana’s 713% rise | Source: TradingView – AMBCrypto

In fact, Solana and Algorand even registered new all-time highs during this time period. But each of these coins is now observing significant price falls as well. 

In the last 24 hours ALGO fell by 15.26%, DOT came down by 14.37% and SOL lost 16.8% of its price as of press time.

A huge reason behind this fall is also their exhausted momentum since even after the September 7 fall, DOT and ALGO witnessed another price rise before they finally hit a slowdown.

Algorand’s 15.26% drop | Source: TradingView – AMBCrypto

Owing to this investors are possibly getting rid of their holdings in both spot and derivatives markets. Sell volumes at the time of this report have increased and liquidations rose to millions for all 3 altcoins. Since SOL gained the most, it lost the most as well and its liquidations touched $25 million.

Solana liquidations at $25 million | Source: Coinalyze – AMBCrypto

Can Bitcoin save them?

Well since Bitcoin’s price movement commands the market’s movement it is obvious that BTC needs to reduce losses first. But more importantly, these assets’ correlation to Bitcoin will determine how much they will be affected by BTC. Right now Algorand is at the lowest at 0.57, followed by Solana at 0.7, and at the highest is Polkadot (0.88)

However, surprisingly, investors are most positive about Algorand of all three hoping for a recovery soon.

Investor sentiment | Source: Santiment – AMBCrypto

Once Bitcoin and Ethereum change their movement, other coins would follow suit. And that’s when some recovery can be expected.

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Source: https://ambcrypto.com/solana-poladot-algorand-what-is-the-bitcoin-effect-on-these-altcoins

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Blockchain

Kraken Daily Market Report for September 19 2021

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Overview


  • Total spot trading volume at $598.4 million, the 30-day average is $1.36 billion.
  • Total futures notional at $223.4 million.
  • The most traded coins were, respectively, Bitcoin (-2.2%), Ethereum (-3.1%), Tether (0%), Solana (-9.9%), and Cosmos (+8.8%).
  • Cosmos continues its hot streak, up 8.8%. Also strong returns from OMG (+10%).

September 19, 2021 
 $598.4M traded across all markets today
 Crypto, EUR, USD, JPY, CAD, GBP, CHF, AUD 
BTC 
$47237. 
↓2.2% 
$159.9M
ETH 
$3328.3 
↓3.1% 
$112.5M
USDT 
$1.0001 
↓0.01% 
$66.5M
SOL 
$152.62 
↓9.9% 
$39.4M
ATOM 
$44.205 
↑8.8% 
$34.8M
ADA 
$2.2816 
↓3.7% 
$33.9M
DOT 
$33.828 
↓2.9% 
$28.0M
USDC 
$1.0 
↓0.01% 
$19.8M
ALGO 
$1.975 
↓4.8% 
$16.0M
XTZ 
$6.5085 
↑1.1% 
$16.0M
XRP 
$1.0480 
↓2.5% 
$11.6M
LINK 
$27.364 
↓3.3% 
$8.56M
DOGE 
$0.2329 
↓3.3% 
$7.51M
LTC 
$181.89 
↑0.24% 
$7.26M
OMG 
$9.6562 
↑10% 
$6.8M
KSM 
$400.45 
↓4.2% 
$6.65M
EOS 
$4.912 
↓9.9% 
$4.86M
CRV 
$3.0345 
↑5.8% 
$4.84M
BCH 
$610.63 
↓3.2% 
$4.79M
DYDX 
$14.288 
↓12% 
$4.55M
MATIC 
$1.3112 
↓4.1% 
$4.14M
XLM 
$0.3134 
↓2.7% 
$3.04M
MOVR 
$387.12 
↓2.1% 
$2.95M
MINA 
$5.38 
↑1.7% 
$2.88M
ZEC 
$133.55 
↓3.8% 
$2.77M
TRX 
$0.1037 
↓2.0% 
$2.4M
AAVE 
$339.02 
↓4.5% 
$2.29M
SC 
$0.0180 
↓5.1% 
$2.02M
XMR 
$260.10 
↓4.2% 
$1.99M
FLOW 
$20.114 
↓2.9% 
$1.93M
DAI 
$1.0002 
↑0.01% 
$1.85M
ANT 
$5.9664 
↓3.2% 
$1.76M
MLN 
$123.19 
↑2.4% 
$1.72M
SNX 
$12.82 
↑1.7% 
$1.47M
DASH 
$192.81 
↓3.6% 
$1.32M
NANO 
$5.5184 
↓0.9% 
$1.31M
OXT 
$0.3665 
↓2.7% 
$1.29M
ETC 
$55.316 
↓2.8% 
$1.26M
SRM 
$9.8570 
↓8.9% 
$1.23M
KAVA 
$6.0120 
↓4.3% 
$1.09M
CQT 
$1.193 
↓2.6% 
$907K
ICX 
$1.7976 
↓6.7% 
$837K
SDN 
$5.84 
↓2.7% 
$819K
KEEP 
$0.4473 
↓6.4% 
$809K
UNI 
$23.906 
↓2.3% 
$807K
WAVES 
$27.5 
↓5.1% 
$798K
KAR 
$9.941 
↓11% 
$790K
FIL 
$83.437 
↓1.0% 
$725K
YFI 
$32933. 
↓2.6% 
$649K
COMP 
$392.7 
↓2.1% 
$599K
QTUM 
$12.145 
↓3.3% 
$577K
OCEAN 
$0.7578 
↓5.7% 
$577K
SUSHI 
$12.017 
↓5.3% 
$513K
REN 
$0.8905 
↓5.9% 
$501K
GRT 
$0.8017 
↓3.4% 
$429K
RARI 
$19.69 
↓7.9% 
$406K
KNC 
$1.7345 
↓3.5% 
$339K
STORJ 
$1.3421 
↓3.9% 
$318K
PAXG 
$1763.7 
↓0.21% 
$305K
BAT 
$0.7403 
↓1.3% 
$269K
CTSI 
$0.6513 
↓3.6% 
$268K
AXS 
$63.35 
↓2.2% 
$245K
ENJ 
$1.5619 
↓4.9% 
$220K
LSK 
$3.6100 
↓0.6% 
$216K
ZRX 
$1.047 
↓5.4% 
$207K
EWT 
$10.199 
↓4.7% 
$197K
BAL 
$24.71 
↓3.9% 
$191K
MIR 
$3.6362 
↓3.0% 
$177K
CHZ 
$0.3165 
↓3.6% 
$156K
1INCH 
$2.9619 
↓4.3% 
$142K
GNO 
$265.44 
↓5.0% 
$141K
PERP 
$14.055 
↓5.7% 
$139K
MANA 
$0.7986 
↓2.8% 
$136K
BADGER 
$20.576 
↓8.8% 
$136K
OGN 
$1.0027 
↓5.0% 
$125K
MKR 
$2730.0 
↓2.9% 
$115K
INJ 
$10.950 
↑2.0% 
$99.1K
REP 
$25.857 
↓1.8% 
$95.5K
LPT 
$18.11 
↓4.2% 
$89.2K
ANKR 
$0.0947 
↓0.3% 
$76.3K
LRC 
$0.4531 
↓1.5% 
$71.4K
GHST 
$1.6867 
↓1.2% 
$56.2K
BAND 
$8.852 
↓4.2% 
$48.2K
SAND 
$0.7381 
↓4.7% 
$43.9K
TBTC 
$48240. 
↓3.4% 
$32.5K
REPV2 
$25.234 
↓3.7% 
$27.3K
BNT 
$3.923 
↓1.3% 
$15.5K
WBTC 
$47699. 
↓0.4% 
$12.3K



#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset


The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (September 20 2021)



Figure 2: Mid-size trading assets: (measured in USD) (September 20 2021)



###########. Daily Returns. #################################################

Daily Returns %


Figure 3: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (September 20 2021)



###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

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Source: https://blog.kraken.com/post/11070/kraken-daily-market-report-for-september-19-2021/

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‘Cryptos are Not Currencies,’ Says ECB’s Lagarde

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European Central Bank (ECB) President Christine Lagarde recently emphasized that cryptocurrencies are not actually currencies, but “highly speculative assets.”

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“Cryptos are not currencies, full stop,” Lagarde stressed. “Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not.” Although not a currency, she did say that they were “highly speculative, suspicious occasionally, and high intensity in terms of energy consumption.

Stablecoins and CBDCs

Despite her disdain for cryptocurrencies, Lagarde is more open to stablecoins, as they could facilitate central bank digital currencies (CBDCs). However, as they continue to spread, she believes they and the companies issuing them need more regulation.

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“You have those stablecoins that are beginning to proliferate, which some big techs are trying to promote and push along the way, which are a different animal and need to be regulated, where there has to be oversight that corresponds to the business that they’re actually conducting, irrespective of how they name themselves,” Lagarde said.

To this end, the ECB under Lagarde launched its digital euro projects this year in response to private-sector digital currencies. “I was keen to push the issue, the CBDC issue, on our agenda because I believe that we have to stand ready for that,” she said. Despite the push, the ECB President previously said that a digital Euro could take up to four years to produce. She remarked upon being “prompted by a demand of customers to produce something that will make the central bank and central bank digital currencies fit for the century we are in.”  

CBDC need

The Bank of International Settlements (BIS) shares Lagarde’s perspective about the need for CBDCs to stand up to the rise in privately issued cryptocurrencies. It also believes that without CBDCs, digital money would become increasingly dominated by big tech firms. This could potentially happen primarily by them leveraging their enormous social media user base.

In its latest Annual Economic Report, released earlier this summer, BIS dedicated a chapter to CBDCs. While applauding advancement in the payment systems, the report said that their benefits would depend on their structure and governance. On the one hand, the technology could enable a “virtuous cycle” of broader access, lower costs, as well as better services.

However, the report notes the potential for a “vicious cycle” of data silos, market power, and anti-competitive practices. “CBDCs and open platforms are the most conducive to a virtuous circle,” the report notes.

What do you think about this subject? Write to us and tell us!

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All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Source: https://beincrypto.com/cryptos-are-not-currencies-says-ecbs-lagarde/

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