Virginia Crenshaw: February 2021

Thursday, 18 February 2021

Ledger Nano X Reviews – The Best Crypto Hardware Wallet

Ledger Nano X Reviews – Easiest to Use Crypto Hardware Wallet – Secure and Manage Your Bitcoin, ERC Coins https://link.ws/crypto2

Slick and simple, very easy to use, terrific value and shipping was really quick. The very first hardware Wallet i purchased, it is worth the money. It little look just like a normal usb Easy to use, really security, just you own your private key. Unfortunately the ledger live app does not support the ADA wallet yet. Ideally it will upgrade quickly.

Ledger Nano X Reviews – Most Reliable Crypto Hardware Wallet With Secure Bluetooth – Secure and Manage Your Bitcoin, Ethereum, ERC Tokens https://storage.googleapis.com/cryptocurrencywallets/index.html

Best way to keep cryptos safe in your own hands off the network. Ledger Nano X was quick to move my bitcoin, Ethereum, and bitcoin cash. took a bit to establish however that is simply me. I feel better not having my crypto on an exchange or the internet in general.

Ledger Nanon X Security functions are terrific. The mobile app is easy to use too, I also use a mac desktop. Never needed tech assistance.

Great device for storing bitcoin and other online properties. It is tedious to establish at first, however this is to safeguard you and what could be a big quantity of money with Ledger Nano X.

I have actually never ever had any issues receiving or sending coins. Its only difficult to utilize if you cant take the time to check out a little handbook for the Ledger Nano.

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Ledger Nano X Reviews – The Best Crypto Hardware Wallet was originally published here https://newsarrivals.wordpress.com/2021/02/18/ledger-nano-x-reviews-the-best-crypto-hardware-wallet/

Saturday, 13 February 2021

What a short squeeze means for Bitcoin’s price

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Title: What a short squeeze means for Bitcoin’s price
Sourced From: cryptopanic.com/news/11481898/What-a-short-squeeze-means-for-Bitcoins-price
Published Date: Fri, 12 Feb 2021 15:31:44 +0000

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What a short squeeze means for Bitcoin’s price

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Ex-CFTC Chair Christopher Giancarlo Stumps for Digital Dollar

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Title: Ex-CFTC Chair Christopher Giancarlo Stumps for Digital Dollar
Sourced From: cryptopanic.com/news/11481923/Ex-CFTC-Chair-Christopher-Giancarlo-Stumps-for-Digital-Dollar
Published Date: Fri, 12 Feb 2021 15:31:42 +0000

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Ex-CFTC Chair Christopher Giancarlo Stumps for Digital Dollar

Ex-CFTC Chair Christopher Giancarlo Stumps for Digital Dollar was originally published here https://newsarrivals.wordpress.com/2021/02/13/ex-cftc-chair-christopher-giancarlo-stumps-for-digital-dollar/

Friday, 12 February 2021

Bitcoin Price Breaks $48,000 Setting New All-Time High

Bitcoin has painted yet another record, breaking the previous all-time high and setting a new one at around $48,480. This comes right after Mastercard announced they would potentially integrate cryptocurrencies in their network and the US oldest bank, BnY Mellon, revealing they would hold, transfer, and issue BTC and other cryptocurrencies on behalf of their asset-management clients.

Bitcoin’s price just painted a fresh all-time high, surpassing the previous record. At the time of this writing, the ATH sits at $48.481 on Bitstamp.
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BTC/USD, Bitstamp. Source: TradingViewWith this, bitcoin’s price is now eyeing the coveted $50K target.This comes in an impressive green candle, which spans through an intraday low of $44,040 to the current price.It’s also interesting to note that the move comes just as Mastercard, one of the largest payment processing companies in the world, announced they would potentially integrate cryptocurrencies in their network sometime this year.With this move, Mastercard becomes the latest payment processing giant to do this following Visa’s move earlier in the year.At the same time, other bullish news came from the oldest bank in the United States – BNY Mellon.The institution revealed that it would hold, transfer, and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients.In general, the past 24 hours saw around $630 million positions being liquidated across the largest exchanges.The biggest single liquidation order happened on BitMEX. It was a bitcoin position with a face value of $8.19 million.Title: Bitcoin Price Breaks $48,000 Setting New All-Time High
Sourced From: cryptopotato.com/bitcoin-price-breaks-48000-setting-new-all-time-high/
Published Date: Thu, 11 Feb 2021 15:57:39 +0000

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Bitcoin Price Breaks $48,000 Setting New All-Time High

Bitcoin Price Breaks $48,000 Setting New All-Time High was originally published here https://newsarrivals.wordpress.com/2021/02/12/bitcoin-price-breaks-48000-setting-new-all-time-high/

Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up

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Ethereum has been facing extreme network congestion once again, which has been made worse by the cryptocurrency’s rapidly increasing price.

At one point over the past week, it cost over $100 to trade on Uniswap, which caused even larger players—some that you could call “whales”—to lament about the extremely high transaction fees.

This has caused a strong narrative shift to “alternatives” to Ethereum that can also support DeFi applications. Of course, there may be trade-offs regarding centralization and the usability of these other networks, though many seem to be willing to leave Ethereum, for now, to trade on other networks.

Ethereum “alternatives” gain traction amid congestion

Ethereum alternatives are gaining traction amid this market congestion.

Coins such as Avalanche’s AVAX, Binance Coin’s BNB, and others, which all act as payment mechanisms for transactions on other DeFi-focused blockchains, have begun to surge by literally dozens of percent over the past 72 hours as Ethereum has become congested once again.

According to CryptoSlate market data, AVAX is up 250 percent in the past seven days while Binance Coin has gained over 140 percent.

Also, the native coins of networks like Cardano, Qtum, Icon, and more have surged by over 80 percent as life is breathed back into these alternative blockchains that were dubbed Ethereum killers back in 2017.

Incoming solutions

Many argue that there are solutions that can allow Ethereum to maintain its dominance but to process more transactions and at a lower cost.

The first discussion has been to increase the block size of Ethereum blocks.

Nikita Zhavoronkov from BlockChair recently suggested that the Ethereum gas limit, which determines the block size, should be increased to 15 to 20 million from 12.5 million. That would mark an increase of 20 to 60 percent, which is quite a large range.

This would allow for a large increase in transactions. The exact numbers are unclear, as it depends on how much gas a transaction takes up.

Zhavoronkov says that this is feasible because the “uncle rate,” which is sometimes used to determine the health of mining, is low. He believes that adding this capacity won’t threaten the security of the network.

It’s time to raise the #Ethereum? gas limit from 12.5M to at least 15-20M.

It’s safe to do this because the uncle rate is at its minimum.

It’s not safe to fail to scale or introduce unpredictable fees, as seen with #Bitcoin, this pushes users to other blockchains. pic.twitter.com/rrsjGAgdLH

— Nikita Zhavoronkov (@nikzh) February 4, 2021

Many have actually pushed back against Zhavoronkov’s comments because they say that he isn’t properly assessing the potential risk of what adding more block size would do to the network.

Namely, there have been discussions around how an increase to the gas limit will result in a large increase in the “state size” of the Ethereum network, potentially causing increased latency or stress put on nodes, and as a result, more centralization.

Positively, though, there has been good progress made on the front of layer-two scaling solutions such as Optimistic Ethereum, which projects like Synthetix, Uniswap, and Rari Capital are dabbling with right now.

Disclaimer: This author is an analyst at ParaFi Capital. ParaFi Capital may hold positions in assets mentioned in this article. The views displayed in this article are opinions of the author—and the author only.

The post Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up appeared first on CryptoSlate.

Title: Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up
Sourced From: cryptoslate.com/other-defi-focused-networks-are-surging-as-ethereum-congestion-narrative-spurs-up/
Published Date: Thu, 11 Feb 2021 15:57:17 +0000

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Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up

Other DeFi-focused networks are surging as Ethereum congestion narrative spurs up was originally published here https://newsarrivals.wordpress.com/2021/02/12/other-defi-focused-networks-are-surging-as-ethereum-congestion-narrative-spurs-up/

One of the world’s biggest NFT marketplaces will soon begin minting on Tezos (XTZ)

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Prelude – OpenSea, a platform with the highest monthly volume in the NFT industry is going to be adding Tezos-based NFTs to their ecosystem. Tezos becomes the second blockchain to join the OpenSea ecosystem.

What is OpenSea?

OpenSea is an NFT marketplace with the highest monthly volume in the industry. So far, it only supported Ethereum-based NFT’s, but that’s about to change. OpenSea has just announced it will enable Tezos-based FA2 NFTs on their platform.

This means that NFT’s minted on Tezos will be able to be stored, viewed, and traded on OpenSea.

Currently, you can mint NFT’s on the Tezos-based minting platform OpenMinter. Another option to mint NFT’s on Tezos is through Hicetnunc (video tutorial here). A third option called Kalamint, will go live the 18th of this month.

Kalamint is a full NFT platform for minting and trading NFT’s. A bridge that enables you to move your Ethereum NFT’s to Tezos will also be launched soon by BenderLabs.

You should check out @BenderLabs_ , they are launching their Ethereum to Tezos bridge very soon with 20 assets. In addition, they will be implementing ethereum NFTs as well.

— Tezos Commons (@TezosCommons) February 8, 2021

Why mint on Tezos?

Tezos’ transaction fees are on average over 3,000 times cheaper than on Ethereum. So minting on Tezos is a great step forward for anyone who wants to mint quality NFT’s in an affordable way.

Minting an NFT on Ethereum can cost as much as $20-$50, however with Hicetnunc on Tezos for example the cost is closer to $0.019, a 2361x reduction on the $50 price.

Then you have transfer fees for the NFTs; currently, on Tezos, the transfer price for an NFT is around $0.01 on Hicetnunc.

This makes the cross transfers well worth the effort, especially on high fee days that are more and more common lately. Last week the difference was even more astounding: transactions on Tezos were a staggering 20,000 times cheaper.

Today, with average transaction costs of $17.43 on #Ethereum, it’s time to do the math again: #Tezos is $17.43 : $0.00088 = 19,806 times cheaper then #ETH
And on this day, we expect wrapped ETH to go live on https://t.co/gVs0KZt2bA. Built on @tezos. #DeFi

— Allen Walters (@IgnoranceIt) January 5, 2021

Fully functional PoS (Proof of Stake) also means that Tezos’ carbon footprint is a lot lower than Ethereum’s, with a fraction of the energy requirement of PoW (Proof of Work).

In a recent analysis on the energy an average NFT on Ethereum uses, it was found that a single Ethereum NFT’s total footprint was:

…equivalent to a EU resident’s total electric power consumption for more than a month, with emissions equivalent to driving for 1000Km, or flying for 2 hours.

Now there is an option to mint and transfer NFTs in a much more energy-efficient way, with no miners involved.

Now that Tezos is also connected to the largest NFT ecosystem by transactions it makes even more sense.

OpenSea has a bright outlook for Tezos

Tezos has important qualities that can be similarly valued by Ethereum’s standards. High decentralization and thus safe, secure and trustless. Tezos combines that quality with fast transactions and a high TPS (~121).

OpenSea commented:

“We also find Tezos attractive because of its under-the-radar growth in developer activity. Tezos development teams are rapidly advancing Tezos with network upgrades every three months.

This upgrade cadence is possible because Tezos significantly lowers the coordination costs of executing network upgrades in a decentralized manner at scale”.

This post originally appeared on XTZ.news.

The post One of the world’s biggest NFT marketplaces will soon begin minting on Tezos (XTZ) appeared first on CryptoSlate.

Title: One of the world’s biggest NFT marketplaces will soon begin minting on Tezos (XTZ)
Sourced From: cryptoslate.com/one-of-the-worlds-biggest-nft-marketplaces-will-soon-begin-minting-on-tezos-xtz/
Published Date: Thu, 11 Feb 2021 15:57:12 +0000

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One of the world’s biggest NFT marketplaces will soon begin minting on Tezos (XTZ)

One of the world’s biggest NFT marketplaces will soon begin minting on Tezos (XTZ) was originally published here https://newsarrivals.wordpress.com/2021/02/12/one-of-the-worlds-biggest-nft-marketplaces-will-soon-begin-minting-on-tezos-xtz/

Kraken launches venture unit to invest in crypto and fintech startups

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Title: Kraken launches venture unit to invest in crypto and fintech startups
Sourced From: cryptopanic.com/news/11476666/Kraken-launches-venture-unit-to-invest-in-crypto-and-fintech-startups
Published Date: Thu, 11 Feb 2021 15:57:01 +0000

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Kraken launches venture unit to invest in crypto and fintech startups

Kraken launches venture unit to invest in crypto and fintech startups was originally published here https://newsarrivals.wordpress.com/2021/02/12/kraken-launches-venture-unit-to-invest-in-crypto-and-fintech-startups/

Cryptoverse and the Beauty of Mathematics: Interview with Analyst Benjamin Cowen

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Title: Cryptoverse and the Beauty of Mathematics: Interview with Analyst Benjamin Cowen
Sourced From: cryptopanic.com/news/11476662/Cryptoverse-and-the-Beauty-of-Mathematics-Interview-with-Analyst-Benjamin-Cowen
Published Date: Thu, 11 Feb 2021 15:56:57 +0000

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Cryptoverse and the Beauty of Mathematics: Interview with Analyst Benjamin Cowen

Cryptoverse and the Beauty of Mathematics: Interview with Analyst Benjamin Cowen was originally published here https://newsarrivals.wordpress.com/2021/02/12/cryptoverse-and-the-beauty-of-mathematics-interview-with-analyst-benjamin-cowen/

Thursday, 11 February 2021

LATAM crypto exchange Bitso acquires Quedex trading platform

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CryptoNinjas » LATAM crypto exchange Bitso acquires Quedex trading platform

Bitso, a Latin American-based crypto exchange company, today announced that it has acquired Quedex, a regulated, Europe-based crypto derivatives trading platform. This acquisition will integrate Quedex’s team and trading technology, as Bitso continues to expand throughout Latin America and globally.

“We’re thrilled to announce the addition of the Quedex team and technology to Bitso,” said Daniel Vogel, CEO, and Co-Founder of Bitso. “We plan to continue expanding our product offering for all our users who use crypto in their daily lives. This acquisition is a testament to our commitment to continue to grow and to our mission of making crypto useful for everyone.”

Founded in 2016 and headquartered in Gibraltar, Quedex is known for its high-performance, low-latency, and high-throughput trading engine built using cutting edge technology, which supports leveraged trading in cryptocurrency futures and options. Additional trading features include portfolio margining and a Liquidator Risk Transfer risk management system compliant with regulatory standards.

Notably, Quedex was the first cryptocurrency derivatives company to be regulated in Gibraltar under the GFSC DLT license: the same framework that regulates Bitso. Quedex’s board of directors has stepped down and a new board was appointed.

Quedex’s technology was built by an in-house expert team of software engineers and quants. The whole team has joined Bitso and will continue supporting the development of its trading technologies.

“We’re excited to join the Bitso team to bring our tech to Latin America,” said Wiktor Gromniak, former CEO of Quedex and incoming Head of Trading Engine at Bitso Alpha. “Bitso and Quedex are united in our missions to make crypto useful. Bitso has done an excellent job of doing that, both for the mass market and for professional traders. This is a mutually beneficial development for both of our companies’ users.” Wojtek Kostrzewa, Quedex’s previous Chairman emphasized that “all co-founders at Quedex have decided to take equity positions in Bitso and intend to support its further development.”

2020 marked a year of significant progress for Bitso, as it expanded into several major Latin American markets and crossed the one million user landmark. In February 2020, Bitso launched its services in Argentina, capturing nearly 80 percent market share by the end of the year. In December, the company announced a $62 million Series B round led by distinguished investment firms Kaszek Ventures and QED Investors — both firms’ first investment in the crypto space. Bitso plans to use these funds to grow its presence in Brazil, the newest market for the company.

CryptoNinjas » LATAM crypto exchange Bitso acquires Quedex trading platform

Title: LATAM crypto exchange Bitso acquires Quedex trading platform
Sourced From: http://www.cryptoninjas.net/2021/02/11/latam-crypto-exchange-bitso-aquires-quedex-trading-platform/
Published Date: Thu, 11 Feb 2021 15:56:46 +0000

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LATAM crypto exchange Bitso acquires Quedex trading platform

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Testnet for THORchain decentralized exchange goes live; to support BTC, BCH, LTC, BNB, ETH

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CryptoNinjas » Testnet for THORchain decentralized exchange goes live; to support BTC, BCH, LTC, BNB, ETH

THORchain, a decentralized liquidity network, has announced its multichain exchange testnet is now live at https://testnet.asgard.exchange. Agard.Exchange is the primary interface for the multichain testnet until the Asgard desktop client is released later this week.

Asgard Exchange is a community built entry point to THORChain and supports BTC and BNB chains, plus native RUNE. The other chains will be supported soon.

Next Milestones

Release ASGARDEX desktop client (this week)Asgard.Exchange support for ETH, LTC, BCH, and others (1–2 weeks)Asgard.Exchange community reskin (1–2 weeks)Multichain support on community products including: runestake, runedata, runebalance, etc. (ensuing weeks)

What To Test

Wallet functionality worksPools are shown correctlySwaps are processedAdding & withdrawing liquidity is processedSend functionality worksPrices are calculated correctlySlippage is correct & price protection works

Issue Handling

Issues are expected during public testnet. Prior to submitting any issues, search the @thorchain_org Telegram chat using the hashtag #issue to see if anyone else has logged that issue.

Testers can submit an issue by filing it on the following GitHub repo: https://github.com/asgardex/asgard-exchange/issues.

CryptoNinjas » Testnet for THORchain decentralized exchange goes live; to support BTC, BCH, LTC, BNB, ETH

Title: Testnet for THORchain decentralized exchange goes live; to support BTC, BCH, LTC, BNB, ETH
Sourced From: http://www.cryptoninjas.net/2021/02/09/testnet-for-thorchain-decentralized-exchange-goes-live-to-support-btc-bch-ltc-bnb-eth/
Published Date: Wed, 10 Feb 2021 15:57:43 +0000

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Testnet for THORchain decentralized exchange goes live; to support BTC, BCH, LTC, BNB, ETH

Testnet for THORchain decentralized exchange goes live; to support BTC, BCH, LTC, BNB, ETH was originally published here https://newsarrivals.wordpress.com/2021/02/11/testnet-for-thorchain-decentralized-exchange-goes-live-to-support-btc-bch-ltc-bnb-eth/

Crypto payment gateway COINQVEST gets EU provider license

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CryptoNinjas » Crypto payment gateway COINQVEST gets EU provider license

COINQVEST, a cryptocurrency payment gateway, and API solution, today announced the approval of its application for the European Union Virtual Currency Service Provider License from the Estonian Government. In addition to its current suite of online payment services, this allows COINQVEST to operate compliantly and provide custodial wallet solutions to clients as well as offer cryptocurrency and fiat exchange or cross-border remittance.

“It has always been one of our goals to provide compliant cryptocurrency payment processing in order to increase transparency and trust in blockchain-based payments in general, and our solution in particular. Obtaining a crypto license is a major cornerstone in the organizational development of COINQVEST and will help us build new business relationships faster.”
– COINQVEST Co-Founder, Stefan Schneider

COINQVEST offers an online cryptocurrency payment processor service for merchants looking to accept cryptocurrency payments. The product converts sales in cryptocurrencies such as bitcoin to a fiat currency stablecoin; then is transferrable to a non-custodial crypto wallet or exchanged and deposited to a bank account. With this license, COINQVEST can now also provide secure and convenient custodial wallets for merchants, complying with mandatory regulations as well as AML/KYC standards.

The COINQVEST platform is built on the Stellar Network, a leading blockchain in the market. Many companies, looking for solutions to bridge the gap between traditional and modern financial tools, choose Stellar as a foundation. Its transaction speed, native decentralized exchange (DEX), and secure protocols make it the ideal ecosystem for COINQVEST’s financial service.

CryptoNinjas » Crypto payment gateway COINQVEST gets EU provider license

Title: Crypto payment gateway COINQVEST gets EU provider license
Sourced From: http://www.cryptoninjas.net/2021/02/10/crypto-payment-gateway-coinqvest-gets-eu-provider-license/
Published Date: Wed, 10 Feb 2021 15:57:39 +0000

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Crypto payment gateway COINQVEST gets EU provider license

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Crypto exchange CoinTiger launches inverse perpetual contracts

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CryptoNinjas » Crypto exchange CoinTiger launches inverse perpetual contracts

CoinTiger, a bitcoin/crypto exchange company, has announced the launch of inverse perpetual contracts, in order to bring a better trading experience for users.

A coin-margined contract on CoinTiger is also called an inverse contract, and is settled in BTC, ETH, etc. CoinTiger coin-margined perpetual contracts support 1–100x leverage; which is freely adjustable.

To start off, CoinTiger first launched coin-margined contracts for BTC, ETH, DOT, LINK, LTC, DOGE, and other popular cryptocurrencies.

The coin-margined perpetual contract trading service will only be opened for some users at the initial launch stage. Those interested can apply to use the service on this form. The CoinTiget team will then review it and the service will be opened in 24 hours if a review is passed.

CryptoNinjas » Crypto exchange CoinTiger launches inverse perpetual contracts

Title: Crypto exchange CoinTiger launches inverse perpetual contracts
Sourced From: http://www.cryptoninjas.net/2021/02/10/cointiger-launches-inverse-crypto-perpetual-contracts/
Published Date: Wed, 10 Feb 2021 15:57:36 +0000

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Crypto exchange CoinTiger launches inverse perpetual contracts

Crypto exchange CoinTiger launches inverse perpetual contracts was originally published here https://newsarrivals.wordpress.com/2021/02/11/crypto-exchange-cointiger-launches-inverse-perpetual-contracts/

Bitcoin (BTC) Whales “Bought the Dip,” Glassnode Data Says

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Title: Bitcoin (BTC) Whales “Bought the Dip,” Glassnode Data Says
Sourced From: cryptopanic.com/news/11471497/Bitcoin-BTC-Whales-Bought-the-Dip-Glassnode-Data-Says
Published Date: Wed, 10 Feb 2021 15:57:25 +0000

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Bitcoin (BTC) Whales “Bought the Dip,” Glassnode Data Says

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Perspective: Long-Term Bitcoin Chart Shows How Far Away The Top Could Be

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Title: Perspective: Long-Term Bitcoin Chart Shows How Far Away The Top Could Be
Sourced From: cryptopanic.com/news/11471485/Perspective-Long-Term-Bitcoin-Chart-Shows-How-Far-Away-The-Top-Could-Be
Published Date: Wed, 10 Feb 2021 15:57:21 +0000

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Perspective: Long-Term Bitcoin Chart Shows How Far Away The Top Could Be

Perspective: Long-Term Bitcoin Chart Shows How Far Away The Top Could Be was originally published here https://newsarrivals.wordpress.com/2021/02/11/perspective-long-term-bitcoin-chart-shows-how-far-away-the-top-could-be/

Wednesday, 10 February 2021

Tezos Shoots for All-Time Highs After Joining Largest NFT Marketplace

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Title: Tezos Shoots for All-Time Highs After Joining Largest NFT Marketplace
Sourced From: cryptopanic.com/news/11471506/Tezos-Shoots-for-All-Time-Highs-After-Joining-Largest-NFT-Marketplace
Published Date: Wed, 10 Feb 2021 15:57:18 +0000

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Tezos Shoots for All-Time Highs After Joining Largest NFT Marketplace

Tezos Shoots for All-Time Highs After Joining Largest NFT Marketplace was originally published here https://newsarrivals.wordpress.com/2021/02/11/tezos-shoots-for-all-time-highs-after-joining-largest-nft-marketplace/

Grayscale CEO: Firms race to buy Bitcoin as mood shifts from ‘why’ to ‘why not?’

Grayscale CEO Michael Sonnnenshein says institutional demand for Bitcoin (BTC) has only increased, moving into 2021, following a record-breaking year that saw Grayscale’s assets under management soar to new heights.

Sonnenshein told CNBC’s Squawk Box on Feb. 10 that the record inflows witnessed last year have continued, and interpreted this as a sign that Bitcoin’s current upsurge could continue.

Contrary to narratives emanating from government entities, Sonnenshein says regulation is not a concern for would-be investors, many of whom, he claimed, are satisfied that enough regulatory clarity has been provided.

Sonnenshein said, “Conversation point number one starts around regulatory concerns, and actually, a lot of those conversations are characterized by a lack of regulatory concerns. A lot of the folks making decisions around this realize how much regulatory clarity has been provided around this.”

In the same week that Tesla invested $1.5 billion into Bitcoin, Sonnenshein says most institutional investors are happy to edge into Bitcoin over time, rather than throwing all their eggs into one basket.

“I think the second piece of the conversation is around sizing and timing. So you’re seeing corporations think about anywhere from, on the low end, 25 basis points, to, on the higher end, maybe 100 or 200 basis points over time. And they recognize that they don’t need to get invested all at once.”

For context, Tesla recently invested roughly 770 basis points, or 7.7% of its gross cash holdings, into Bitcoin. Sonnenshein said the investment strategy taken by MicroStrategy might be more typical of future buyers. MicroStrategy bought $1 billion worth of Bitcoin across the span of 2020.

“They’ve seen other corporations like MicroStrategy legging into this trade over time, and they ultimately believe in the growth of this. So buying Bitcoin whether it’s here, ten percent higher, or ten percent lower, ultimately, is not going to matter if they think Bitcoin is going to have the type of growth they think it is going to have over time,” he stated.

According to Sonnenshein, the question surrounding Bitcoin is changing from “why?” to “why not?,” as the leaders of major tech companies like Tesla and Twitter flood into the cryptocurrency market. Sonnenshein thinks more “visionaries” will follow the likes of Elon Musk in buying Bitcoin. He said:

“I wouldn’t be surprised to see there being almost some sort of a race now — you have Elon Musk, you have Michael Saylor, Jack Dorsey. You’re gonna see a lot of other visionary leaders in disruptive companies actually realizing that it’s really moved from ‘why’ to ‘why not’, and see which companies are next to get involved in having Bitcoin as part of their treasury program.”

The signals all look good for 2021, according to Sonnenshein, who says institutional inflows have already gained momentum since the start of the new year.

“If flows are any indication of investor interest on the heels of a record-breaking 2020, I’m very pleased to say, and encouraged that that momentum is not only continuing this year, but is actually accelerating. So we’re seeing very very sustained and growing demand from a lot of institutional players at the moment,” he concluded.

Title: Grayscale CEO: Firms race to buy Bitcoin as mood shifts from ‘why’ to ‘why not?’
Sourced From: cointelegraph.com/news/grayscale-ceo-firms-race-to-buy-bitcoin-as-mood-shifts-from-why-to-why-not
Published Date: Wed, 10 Feb 2021 13:53:19 +0000

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Grayscale CEO: Firms race to buy Bitcoin as mood shifts from ‘why’ to ‘why not?’

Grayscale CEO: Firms race to buy Bitcoin as mood shifts from ‘why’ to ‘why not?’ was originally published here https://newsarrivals.wordpress.com/2021/02/10/grayscale-ceo-firms-race-to-buy-bitcoin-as-mood-shifts-from-why-to-why-not/

Parabolic growth puts Total Value Locked (TVL) in DeFi at record $35.8B

The U.S. dollar value of cryptocurrency liquidity locked in decentralized finance (DeFi) hit $35.8 billion. What’s more, this growth came about not from the usual suspects, such as Link or Aave. Instead, a raft of lesser-known DeFi protocols has been dominating the market over the last seven days.

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Source: defipulse.com

The Total Value Locked (TVL) in DeFi

The Total Value Locked (TVL) in DeFi serves as a high-level valuation metric to determine the amount of assets currently staked in the DeFi space as a whole.

“TVL measures the total value of the tokens locked within these dapps with the argument going that the higher the value locked up in a DeFi dapp, the better.”

Since DeFi burst onto the scene back in August 2017, the TVL has risen exponentially. At the end of 2018, TVL was around $300 million. By 2019 it was $800 million. However, the end of 2020 saw an astonishing year-end close of around $15 billion.

The rate of growth over time has shocked many observers leading some to believe DeFi is a bubble primed to pop. But Justin Banon, CEO of Boston Protocol, argues that its disruption of centralized finance is what will continue to drive growth.

“It is all about unbundling the tightly controlled monoliths of the incumbents and allowing the brightest and the best to build the products that are useful to them, while opening up access for everyone — not just the privileged few — to gain access to the data and opportunities that can give them the best returns.”

Today’s $35.8 billion valuation represents +132% growth in the five weeks since the start of 2021.

Currently, the top three protocols are Maker, Aave, and Compound, which account for $6.03B, $5.66B, and $4.15B of the TVL in DeFi. Interestingly, all three are lending protocols.

Decentralized exchanges make up the next biggest category. With Curve Finance ($3.85B), Uniswap ($3.67B), and SushiSwap ($3.13B) way ahead of the rest of the pack.

Which DeFi tokens are riding high at the moment?

The total crypto market cap pushed to a new all-time high today at $1.3 trillion. A good proportion of this growth has come from the performance of DeFi tokens over the last week or so.

While Maker and Aave have done their part, gaining 79% and 78% respectively since last Monday, small-cap offerings led the charge.

In the top spot is Anyswap, a fully decentralized cross-chain swap protocol, with close to 500% gains. It recently registered a new all-time high, at $1.51 on February 5th. At the start of 2021, ANY was trading for just $0.16.

In amongst the mix of small-caps is Fusion, which describes itself as an all-inclusive blockchain-based financial platform offering cross-chain, cross-organization, and cross-data source services through smart contracts. FSN also posted unbelievable gains this past week, with almost 200% growth in its price.

Top ten DeFi gainers over the last seven day. Source: coinmarketcap.com

Today, average Ethereum gas fees are down to $16.27. The YTD high was $25.19 on February 5th.

For more information, explore all DeFi coins on CryptoSlate.

The post Parabolic growth puts Total Value Locked (TVL) in DeFi at record $35.8B appeared first on CryptoSlate.

Title: Parabolic growth puts Total Value Locked (TVL) in DeFi at record $35.8B
Sourced From: cryptoslate.com/parabolic-growth-puts-total-value-locked-tvl-in-defi-at-record-35-8b/
Published Date: Tue, 09 Feb 2021 14:33:59 +0000

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Parabolic growth puts Total Value Locked (TVL) in DeFi at record $35.8B

Parabolic growth puts Total Value Locked (TVL) in DeFi at record $35.8B was originally published here https://newsarrivals.wordpress.com/2021/02/10/parabolic-growth-puts-total-value-locked-tvl-in-defi-at-record-35-8b/

Elon Musk gets “congratulated” by Michael Saylor after Tesla’s $1.5 billion Bitcoin splurge

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The electric carmaker purchased over 37,000 Bitcoin, filings from today showed. And the firm’s CEO is getting congratulated by an institutional Bitcoin bull.

Congrats, Musk!

MicroStrategy CEO Michael Saylor is a happy man. The Bitcoin convert has picked up over a billion dollars worth of the asset last year, majorly through his company’s treasury and a minor portion for personal accounts.

He’s been preaching the Bitcoin cause strongly in the past week. Saylor considers it to be the ultimate hedge against global inflation, a bleak economy, and falling yields across traditional asset classes such as bonds and equities.

Today, Saylor extended his regards to Elon Musk, minutes after the latter almost broke the internet today after a recent development amidst relentless tweeting of meme coin Dogecoin in the past week.

As CryptoSlate reported this morning, electric carmaker Tesla, the firm chaired by Musk, was found to have purchased over $1.5 billion worth of Bitcoin in the past months, a filing made to the US Securities and Exchange Commission showed.

“We invested an aggregate $1.50 billion in Bitcoin under this policy,” read Tesla’s Form K-10, referring to a policy change that stated Tesla would further diversify and maximize returns on its cash and was not required to maintain “adequate operating liquidity.”

The firm, and Musk, received a welcome of sorts to the Bitcoin side by Saylor. “Congratulations & thank you to Elon Musk & Tesla for adding Bitcoin to their balance sheet. The entire world will benefit from this leadership,” he tweeted, suggesting the move was a door for many other companies to follow in Tesla’s footsteps.

Congratulations & thank you to @elonmusk & @Tesla on adding #Bitcoin to their balance sheet. The entire world will benefit from this leadership.https://t.co/FVTepBqAI2

— Michael Saylor (@michael_saylor) February 8, 2021

Tesla to soon accept Bitcoin?

As such, the move came on the back of Saylor’s own Bitcoin “playbook,” a set of guidances and conferences designed to help company executives and investors into their first Bitcoin purchase. It includes legal, regulatory, and technical information—It’s the same groundwork that MicroStrategy followed for its own purchase.

Meanwhile, Tesla might just start taking Bitcoin as a payment for its electric vehicles.

“Moreover, we expect to begin accepting Bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt,” the filing read.

Whoever said Bitcoin would never see the light of the day?

The post Elon Musk gets “congratulated” by Michael Saylor after Tesla’s $1.5 billion Bitcoin splurge appeared first on CryptoSlate.

Title: Elon Musk gets “congratulated” by Michael Saylor after Tesla’s $1.5 billion Bitcoin splurge
Sourced From: cryptoslate.com/elon-musk-gets-congratulated-by-michael-saylor-after-teslas-1-5-billion-bitcoin-splurge/
Published Date: Tue, 09 Feb 2021 14:33:56 +0000

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Elon Musk gets “congratulated” by Michael Saylor after Tesla’s $1.5 billion Bitcoin splurge

Elon Musk gets “congratulated” by Michael Saylor after Tesla’s $1.5 billion Bitcoin splurge was originally published here https://newsarrivals.wordpress.com/2021/02/10/elon-musk-gets-congratulated-by-michael-saylor-after-teslas-1-5-billion-bitcoin-splurge/

Canadian bank says Apple could be next to buy Bitcoin, build crypto exchange

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Is the world’s biggest company by market cap looking to add the world’s biggest cryptocurrency to its treasury reserve? One bank seems to say so.

Cryptocurrencies a better bet than EV for Apple

Consumer technology firm Apple could be the next big enterprise to buy Bitcoin, as per a recent note by Canada’s largest bank, the Royal Bank of Canada (RBC). The note comes as electric carmaker Tesla said it picked up over $1.5 billion in Bitcoin in the past month.

RBC’s Mitch Steves, an analyst in the bank’s capital markets division, said the next opportunity for Apple was in cryptocurrencies and not the electric car sector—the latter a strategy weighted by Apple in the past few years.

Apple is rumored as the next company to buy #bitcoin

— Documenting Bitcoin ? (@DocumentingBTC) February 8, 2021

The opportunity, he noted, lay in Apple building out a cryptocurrency exchange as retail demand for accessing the sector grows in the coming years. And for the company, the next step could be to also consider adding Bitcoin or another digital currency to its balance sheet, the bank said.

“This would send even more users to Apple Exchange and would likely further boost Bitcoin prices,” the bank wrote in its client note.

Steves said Apple could leverage its in-built wallet application, used by millions around the world daily, into an app that accepts, stores, and transfers cryptocurrencies. “The wallet initiative appears to be a clear multi-billion dollar opportunity for the firm (potential for well over $40 billion in annual revenue with limited R&D),” he said in the note.

The note came a few days after Hyundai Motor Co. and Kia Motors Corp. said that they were not in talks with Apple to develop an autonomous vehicle, despite popular reports and rumors stating otherwise.

Many are gonna hate me for this but here:

Apple followed Tesla with the Electric car. it’s a no brainer that at some point in the future they’ll follow with a move on bitcoin. but here is the thing, apple users are top buyers. when apple announces something like this you sell.

— BitBit.BTFD (@BitBitCrypto) February 8, 2021

The move was said to be well-received among investment circles. But for RBC, the shift to the EV business is a “higher-risk proposition than crypto.”

In a gold rush, sell the shovels

The note comes on the back of companies like Square and PayPal offering cryptocurrencies to their large userbase—allowing retail investors to use a trusted app to purchase crypto instead of using an unregulated platform.

Apart from traditional finance business, Coinbase, one of the most-used crypto exchanges in the US, has already filed its plans for an upcoming initial public offering (IPO), meaning the exchange sector is one that’s just beginning to heat up.

As such, RBC’s comments come at a time when traditional companies, hedge fund managers, and family offices have been increasingly showing more interest in Bitcoin and other cryptocurrencies.

The rush can be traced back to Paul Tudor Jones moving 1% of his assets into Bitcoin investments, following by MicroStrategy’s three BTC purchases. Square picked up $50 million worth of the asset in October as well, and now with Tesla on the bandwagon too, who could be next?

The post Canadian bank says Apple could be next to buy Bitcoin, build crypto exchange appeared first on CryptoSlate.

Title: Canadian bank says Apple could be next to buy Bitcoin, build crypto exchange
Sourced From: cryptoslate.com/canadian-bank-says-apple-could-be-next-to-buy-bitcoin-build-crypto-exchange/
Published Date: Tue, 09 Feb 2021 14:33:55 +0000

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Canadian bank says Apple could be next to buy Bitcoin, build crypto exchange

Canadian bank says Apple could be next to buy Bitcoin, build crypto exchange was originally published here https://newsarrivals.wordpress.com/2021/02/10/canadian-bank-says-apple-could-be-next-to-buy-bitcoin-build-crypto-exchange/

Bitcoin (BTC) Closed its Largest Daily Candle Thanks to Elon and Tesla

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Title: Bitcoin (BTC) Closed its Largest Daily Candle Thanks to Elon and Tesla
Sourced From: cryptopanic.com/news/11466132/Bitcoin-BTC-Closed-its-Largest-Daily-Candle-Thanks-to-Elon-and-Tesla
Published Date: Tue, 09 Feb 2021 14:33:42 +0000

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Bitcoin (BTC) Closed its Largest Daily Candle Thanks to Elon and Tesla

Bitcoin (BTC) Closed its Largest Daily Candle Thanks to Elon and Tesla was originally published here https://newsarrivals.wordpress.com/2021/02/10/bitcoin-btc-closed-its-largest-daily-candle-thanks-to-elon-and-tesla/

Tuesday, 9 February 2021

Oracle Rumored to Be Next Corporation to Get into Bitcoin: Max Keiser’s Source

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Title: Oracle Rumored to Be Next Corporation to Get into Bitcoin: Max Keiser’s Source
Sourced From: cryptopanic.com/news/11466148/Oracle-Rumored-to-Be-Next-Corporation-to-Get-into-Bitcoin-Max-Keisers-Source
Published Date: Tue, 09 Feb 2021 14:33:36 +0000

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Oracle Rumored to Be Next Corporation to Get into Bitcoin: Max Keiser’s Source

Oracle Rumored to Be Next Corporation to Get into Bitcoin: Max Keiser’s Source was originally published here https://newsarrivals.wordpress.com/2021/02/10/oracle-rumored-to-be-next-corporation-to-get-into-bitcoin-max-keisers-source/