“We simply attempt to be fearful when others are greedy and greedy when others are fearful” Warren Buffet’s quote may sound like a cliche when discussing risk management in a crypto portfolio, nevertheless, it is true. Recently, on-chain analyst @DaanCrypto suggested risk management techniques for crypto traders in a long twitter thread. Source: Twitter While...Read More
Time and again, the digital assets industry has witnessed a domino effect. In case you missed it, on 21st September, Bitcoin’s price declined by 6.46%, falling from $10996 to $10286. A little recovery was observed on the 22nd, but on the 23rd, the asset shaved another 3.82 percent. The bearish floodgates in the crypto market...Read More
This year witnessed close competition between major assets raking in great profits. However, the actors who also contributed to the smooth transfers of most major cryptos were stablecoins, which have also witnessed exponential growth in the year 2020. The total volume of stablecoins in circulation has reached $20 billion, as USDC carves a higher share....Read More
In what seems like a perfectly normal day in the defi landscape, another project was exploited. Andre Cronje’s gaming project – Eminence was pre-launched without his knowledge and a bug in the ecosystem was exploited that cost its users $15 million. This, coupled with low defi volumes, and a few other things indicate that the...Read More
Comparison between Bitcoin and the U.S dollar is an unavoidable plot in the current financial industry. With the increased interest in the Bitcoin market, the asset is currently more defined and credible than in the past and its movement has often been the bud of many discussions. With the U.S dollar index recently rising, an...Read More
The International Blockchain Monetary Reserve (IBMR), a microfinance economic development agency, today launched what it claimed to be the world’s first “microequity” exchange – MESE.io. According to a press release sent to AMBCrypto, the platform, which runs on the Algorand blockchain protocol and ChainUP’s cloud exchange technology, will allow users to trade global tech stocks...Read More
Lately, there seems to be a lot of good news when one looks at the on-chain metrics for Bitcoin. Earlier the price briefly moved above $11K but fell back down to $10,700 as of Tuesday morning – the price moving seemingly in tandem with the stock market. Bitcoin: Glassnode Network Index Source: Glassnode As per...Read More
With defi frenzy coming to palpable levels, all seemed well until a new project by Andre Cronje went awry. This has resulted in a loss of $15 million in funds, out of which $8 million was sent to Cronje’s yearn deployer account as a “sorry” note. Eminence is/was an unfinished game with an in-game economy...Read More
Members of the Young Entrepreneurs Network Africa in Nairobi, Kenya are developing the YENTS stablecoin, a native token of the entrepreneurs’ Network which is expected to launch in November this year, according to the report. YENTS token will be pegged to the Kenyan shilling or equivalent US dollar amount, on a one to one basis,...Read More
Despite high price turbulence and trend concerns, Bitcoin noted a major milestone over the past 24-hours. According to data released by Messari, Bitcoin completed its longest-ever period above $10,000, crossing its previous record of 62 days that spanned over 1 December 2017 and 31 January 2018. While comparisons with Bitcoin’s most bullish period are good...Read More
Digital payments platform Wirex, which runs on Ripple has raised £1.2 million ($1.5 million) during its securities offering today, with nearly 2000 investors pooling in the first £1 million in an hour and a half via crowdfunding platform Crowdcube, according to a release. The release further stated that Wirex planned to use the crowdfunding round...Read More
Legal authorities in South Korea have ruled in favor of the crypto exchange, Bithumb, ruling that it need not compensate a crypto investor who filed a lawsuit against the exchange who claimed to have lost 470 million won (approximately $ 402,000), during the 2017 Bithumb hack, according to local news source, Yonhap. The legal community,...Read More
Decentralized storage network, Filecoin today announced that it has started its pre-mainnet phase, coined as ‘Mainnet Ignition’ and that the Filecoin community has a “few weeks” left to initialize, set up systems, and optimize deployments. According to the release, Filecoin is expected to launch its mainnet between Oct 19 -23. 3…2…1… Countdown to liftoff! Filecoin...Read More
Bitcoin has been pulled out of cryptocurrency exchanges since the start of 2020, while its price has surged by 32% year to date. At first, it may seem counterintuitive that Bitcoin is being pulled out of exchanges while there is an uptrend in prices, especially since while the price has risen by 63% since 2019,...Read More
DeFi protocols have seen rapid adoption, growth, and an exponential rise in TVL in 2020. The latter is an especially good metric since while a high number of daily/monthly active users is not a direct indicator of a project’s growth, Total Value Locked is, when gauging how well a DeFi project is doing. Source: DefiPulse...Read More
The Inland Revenue Department of New Zealand has re-ignited its interest in crypto-assets and its investors after it asked companies dealing with them to hand over customer details. The guidelines in question present a set of requirements which include the customer’s personal details, as well as info on the type of crypto-assets they are holding....Read More
When it comes to cryptocurrency adoption, the past year has been dominated by the fact that institutional investors are now pouring into the digital asset market. In light of growing regulatory clarity and products like those offered by Grayscale that make traditional investors feel right at home when dealing with crypto, the last 12 months...Read More
Let’s face it, no one wants to buy Bitcoin. Let me explain. What I mean is, no one wants to buy Bitcoin at its current price, whatever its price may be. We always tell ourselves, “maybe tomorrow it will have fallen some more, and then I’ll buy it.” And oftentimes, tomorrow doesn’t come. However, some...Read More
Over the past ten years, crypto-exchanges have emerged to become extremely crucial, not just with regard to adoption levels, but also when it comes to directing the overall growth of the industry. The previous year saw a lot of interest in greater levels of decentralization, an interest that contributed to the DeFi boom and renewed...Read More
The importance of this current week has been fairly downplayed. Years down the line, the global payments system might look back at this particular period and suggest that this is where it all started. Let’s jog our memories on what actually happened. In two ‘un-correlated’ announcements, the People’s Bank of China-controlled finance magazine stated the importance...Read More
Samsung SDS, the IT arm of the South Korean multinational business Samsung group will begin testing a blockchain-powered distribution system that will offer better management of pharmaceutical drugs, according to a local news source, Yakup. The pilot project which is called ‘Disruptive innovation technology for tracking drug distribution history’ will be rolled out in November...Read More
Bitcoin has shown immense promise to the investors over the years, even though its growth may have currently been restricted due to a consolidating market. Despite the stagnated growth period, the coin has been returning 49% in YTD. Due to a strong correlation between BTC and most major alts along with other cryptocurrencies, the overall...Read More
Blockchain-backed, decentralized video platform, Theta Network will collaborate with Chainlink to build a new blockchain-based platform to solve the “multi-billion dollar Ad fraud problem” one that scams people through coin giveaways, the firm said in an announcement today. The project which is currently live on its testnet, uses Google’s Big Data solution, BigQuery, and would...Read More
Bitcoin’s on-chain metrics suggest that the market is overly bearish. This has been the case for most of 2020. Source: Coinmarketcap Up till now, on-chain metrics are considered a reliable source of data for predicting Bitcoin’s market sentiment and price. It is assumed that the Bitcoin Network needs sufficient on-chain volume in order to fuel...Read More
Blockchain tech company ConsenSys announced that it would work on the second phase of ‘Project Inthanon-LionRock,’ which will allow the firm to design a proof-of-concept for CBDCs. This project was launched in 2019 by the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) to “study the application of a CBDC to cross-border...Read More
DeFi is the latest hype machine in the crypto-market. It has evolved from simply earning interest by locking crypto to Governance tokens and being able to trade these derivatives. As of 01 January 2020, the total value locked [TVL] in DeFi was just around $675 million. However, as DeFi, governance tokens, and yield farming mania...Read More
Cryptocurrency exchange Gemini announced that the platform will now enable trading and custody for seven new DeFi tokens such as Balancer (BAL), Curve (CRV), Ren Network (REN), Synthetix Network (SNX), Uma (UMA), Uniswap (UNI), and Yearn.finance (YFI). In addition to this, Gemini stated that five other tokens namely, Decentraland (MANA), Kyber Network (KNC), Maker (MKR),...Read More
Binance exchange has added another important asset to Cross Collaterals- Ethereum [ETH]. Ethereum was the third asset to be added to this list after Bitcoin [BTC] and Binance USD [BUSD]. With Ethereum as another option to choose from, it would allow users to collateralize their crypto assets to borrow against ETH. The release from Binance...Read More
According to a local news report, four members from the Yisrael Beiteinu political party in Israel have submitted a new bill that proposes to recognize Bitcoin (BTC) as a digital currency instead of an asset, at Knesset, the legislative branch of the Israeli government. The reason for this amendment to BTC’s current regulation stemmed from...Read More
Russia’s Ministry of Finance has prepared a new version of Russia’s laws that introduce stringent measures regarding the usage of crypto wallets, a local media outlet RBK, reported today. The announcement follows an earlier attempt to ban crypto transactions in Russia, however, the report stated that this new amendment will come into force in January...Read More
