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TRON 4.0 Will Officially Launch on July 7th

TRON blockchain founder Justin Sun has officially announced the launch date of TRON 4.0. In a medium post titled “An open letter to the community”, Justin Sun confirmed the launch of TRON 4.0 mainnet as the 7th of July 2020. The official launch of TRON 4.0 signifies the stunning transformation of TRON from being a […]

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TRON blockchain founder Justin Sun has officially announced the launch date of TRON 4.0. In a medium post titled “An open letter to the community”, Justin Sun confirmed the launch of TRON 4.0 mainnet as the 7th of July 2020.

The official launch of TRON 4.0 signifies the stunning transformation of TRON from being a blockchain-centered project to an industry trendsetter. It illustrates the evolution of TRON, from achieving smaller victories, to being a sector leader and innovator.

quoted from Justin Sun’s announcement

The TRON 4.0 launch will introduce a new Smart Contract Privacy Protocol using zK-SNARKS protocol which stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge,” and refers to a proof construction where one can prove possession of certain information, e.g. a secret key, without revealing that information, and without any interaction between the prover and verifier.

In an elaborate blog post, the TRON Foundation has explained all the key features that the 4.0 upgrade will bring to the TRON mainnet. More specifically, it elaborates that major upgrades that smart contract protocol will bring to the platform. This includes diverse and shielded transactions, efficient smart contracts, verifiable transactions, etc.

The post TRON 4.0 Will Officially Launch on July 7th appeared first on TheCoinsPost.

Source: https://www.thecoinspost.com/tron-4-0-will-officially-launch-on-july-7th/

Blockchain

Marc Andreessen: Bitcoin Is a Fundamental Technological Transformation

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The co-founder of Andreessen Horowitz – Marc Andreessen – highlighted cryptocurrencies and blockchain technology as a financial revolution. He also praised bitcoin, saying it is not only a digital asset but a network providing numerous options to investors.

Cryptocurrencies Can Build Trusty Relationships

During an interview for Bloomberg, the American entrepreneur Marc Andreessen revealed his reasons what makes digital assets an enduring investment option. He stated that one of their main qualities is that they can “form trusty relationships in an untrusty environment.” He went further, opining that virtual currencies represent a “fundamental technological transformation:”

“We view it as a fundamental technological transformation. So there’s a fundamental breakthrough that has actually happened. So it’s the ability for a lot of people and software on the Internet to be able to form trusty relationships in an untrusty environment.”

Andreessen Horowitz’s co-founder said that the asset class could be kind of confusing for investors. To him, it is like “the parable of the blind man and the elephant,” and that is one reason why some people get distracted and carried away. Still, he outlined that cryptocurrencies and the underlying blockchain technology are superior to fiat money.

“Many of the smartest people in computer science are going into this field and they are pushing it forward in a really rapid rate, ” he added.

Andreessen spoke about bitcoin, too, describing it as “an internet computer that’s spread out across hundreds and thousands of physical computers all over the world.” It is a decentralized transaction processing system that can employ various financial operations besides just exchanging money.

Subsequently, he opined that keeping the identity of Bitcoin’s creator as a secret is “one of the most amazing things.” The top executive pointed out that the mysterious Satoshi Nakamoto knew from the very beginning how important this move would be and called it “double amazing” how he/she or they could maintain it undisclosed all this time.


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Marc Andreessen
Marc Andreessen, Source: Wikipedia

Andreessen Horowitz to Launch a $2.2B Cryptocurrency Fund

The Silicon Valley venture capital firm Andreessen Horowitz (a16z) recently showed its support towards the digital asset industry and announced its intentions to launch a $2.2 billion fund. The company plans to distribute the amount across blockchain and cryptocurrency start-ups. Katie Haun and Chris Dixon – the leaders of the organization’s virtual assets arm commented:

“The size of this fund speaks to the size of the opportunity before us: crypto is not only the future of finance but, as with the internet in the early days, is poised to transform all aspects of our lives.”

In addition, a16z had hired numerous new personnel for the initiative, including former Securities and Exchange Director Bill Hinman.

Featured Image Courtesy of Stanford.Edu

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Source: https://cryptopotato.com/marc-andreessen-bitcoin-is-a-fundamental-technological-transformation/

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Here’s how Options traders can take advantage of Bitcoin’s window

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It is exciting to see market sentiments in a volatile crypto-environment. The past couple of weeks, for instance, have seen Bitcoin and most altcoins at their bullish best. However, the aforementioned period has also seen these assets face a steady stream of drawdowns.

Consider this – Bitcoin is currently undergoing corrections and a mixed response should have been expected from traders. Alas, that hasn’t been the case.

Are traders too bullish at the moment?

Source: Skew

Put/Call Ratios today touched a level of Open Interest last seen back in early January. At the time, it was a key bullish signal, one which led Bitcoin all the way to $42k by mid-February.

It can be a bullish signal this time too. It might help Bitcoin break the $42k barrier once again, an essential range to recover in terms of market structure.

Source: Skew

Bitcoin Options Open Interest were resoundingly bullish, with call buys dominating both short-term and long-term expiries. Here, it’s worth paying attention to the 297 BTC expiring tomorrow at $40,000.

Does Options Interest matter that much?

A clearer picture in that regard can be underlined by Deribit’s recent Institutional newsletter. According to Deribit, the total turnover was $40.4 billion in July, 24% lower than the turnover in June 2021. Total Options turnover also dropped by 23%, registering a figure of $14.6 billion.

Source: Deribit

The letter added,

“295,920 BTC and 1,991,591 ETH options contracts were traded in July 2021, down 25% and 8% versus June 2021.”

Back in July, Bitcoin was consolidating between $35000 and $30000 until the last week, when a bullish breakout unfolded.

 But, has Bitcoin confirmed a rally yet?

Source: TradingView

Rallying and confirming a bull rally can be considered two different things, technically. One has more direction than the other. For example, a bull rally can be close to being confirmed once Bitcoin closes above $42,000 on the daily chart. It isn’t doing so right now but still, it is rallying somewhat, right?

But, a ‘rally’ might not be the reason why Options traders are so bullish. It might just be a strategy.

The Bull-Call Spread and its limited action

Now, a bull-call spread is an Options strategy that takes advantage of a limited increase in an asset’s value. Traders set up two Options where one is a Call Option at a lower strike price and a Sell Option at an upper strike price. Here, both are meant to expire on the same date. It is a reduced risk strategy that caps gains, but limits massive losses. Without getting into the technicals, here is how it works.

Bring those 297 BTCs expiring with a strike price of $40,000 on 5 August into play. Now, the play here would be to set another Sell Option at the strike price of $41,000. Now, if BTC touches $40,000 and goes beyond, the trader would sell a Call Option at a higher strike price that has the same expiration date as the first Call Option and collect the premium.

If the price of Bitcoin does not go above $40,000, then the Options strategy expires worthlessly and the investor loses the net premium paid at the onset. But, it is limited since there are two opposing contracts at play.

Moral Point?

If that bit of information got a little dizzy, then here is the shorter version – There is a possibility that traders are bullish on Bitcoin for a limited time period to cover the bullish spread. Bitcoin is in play for them, but they are acting in particularly bullish windows.

Hence, Bitcoin Options traders might not be overly bullish, just momentarily.

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Source: https://ambcrypto.com/heres-how-options-traders-can-take-advantage-of-bitcoins-window

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Why it’s best Cardano’s traders remain on the lookout

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

While some altcoins have been quite volatile over the week due to Bitcoin’s hike above $42,000 and its subsequent retracement, the same cannot be said for Cardano.

Broader market cues did not seem to have a drastic effect on ADA’s price as it remained gridlocked between the strong resistance of $1.38-$1.40 and support at $1.25. However, tracking its movement since 19 May highlighted the formation of a pennant and a potential swing could be in store over the coming week. The question is – In which direction?

Cardano Daily Chart

Source: ADA/USD, TradingView

Since the 19 May sell-off, Cardano has formed four higher lows at $1.95, $1.86, $1.49, and $1.38. An upper sloping trendline was used to plot these points on the charts. Similarly, a lower trendline was plotted along the slightly higher lows of $0.95, $1.0, and $1.02.

This created a pennant pattern which indicated two possible outcomes going forward.

Bullish Outcome 

Let’s discuss a bullish outcome first since this seemed achievable with one simple development. Buyers need to target a hike above the $1.38-$1.40 resistance – A result that could trigger a near 40% surge in value towards the highest point in ADA’s pattern at $1.88. Excited? Well, it wouldn’t be that plain and simple.

This scenario would require ADA to close above its weekly 20-SMA (red) (not shown) which has run bearish since 5 July. Moreover, the Visible Range noted a decent number of sellers at ADA’s aforementioned resistance zone.

Bearish Outcome

Quite a few developments need to take place for this result. For starters, ADA would need to drop below its daily 200-SMA (green) and Visible Range’s POC at $1.21. Ideally, ADA would find support at the higher low at $1.05, but a close below this level might lead to a sharp sell-off in the market. The 23 April swing low of $0.92 would be in focus in such a situation.

Winner?

At press time, the buyers were at an advantage. The RSI was above 60 – A sign of bullish strength in the market. The Squeeze Momentum Indicator noted upwards pressure, while the MACD maintained its northbound trajectory, albeit with some choppy movement. However, the indicators had not yet matured to levels to indicate a clear winner in this battle.

Conclusion

ADA did flash positive signals as it traded close to the resistance zone of $1.38-$1.40. Traders should be on the lookout for a break above or below key levels to ascertain ADA’s next destination over the coming weeks.

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Source: https://ambcrypto.com/why-its-best-cardanos-traders-remain-on-the-lookout

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