DASH Partners With StakeHound Enabling DeFi Users to Earn Rewards

DASH Partners With StakeHound Enabling DeFi Users to Earn Rewards

DASH Partners With StakeHound Enabling DeFi Users to Earn Rewards

StakeHound collaborates with DASH NEXT and Dash Core Group, allows Dash holders to access decentralized finance (DeFi) applications while earning staking rewards.

Newly launched StakedDASH has become a bridge between DASH and Ethereum DeFi ecosystems. It allows DASH holders to generate further yield. Through DeFi applications whereas at the same time continue receiving stable staking rewards. 

DASH NEXT Co-Founder Felix Mago said,

With DeFi, different Blockchains are finally coming together. I am very excited about this partnership as it provides DASH users the benefits of DeFi applications. Such as lending or borrowing, and Ethereum users with an easy way to use DASH’s established global payment ecosystem.

StakedDASH is tradable in major DeFi platforms like UniSwap, Curve, Aave, and others, using the Radix or Ethereum networks. They can also be converted into the original Dash tokens at any point.

In the meantime, the DASH tokens held by StakeHound will be conducted in a Dash masternode. And earn the standard rate of network rewards, which is issued to users as additional stakedDASH.

This enables Dash holders to gain the profit of network staking, but without needing to lock up the 1,000 DASH required to create their own masternode. The amount required to stake through StakeHound is a minimum of 1 DASH, at the time of writing worth $68.8.

Founder and CEO of StakeHound Albert Castellana have mentioned his intention, and dedication to explore DeFi capabilities to build and integrate DeFi on Dash Platform after the upcoming launch of mainnet.

Luxury Watchmaker Breitling Issues Blockchain Based Digital Watch Certificate

Luxury Watchmaker Breitling Issues Blockchain Based Digital Watch Certificate

Breitling has, a well-known Swiss company has become the world’s first luxury watchmaker to leverage blockchain technology digital watch certificates.

Swiss firm partner with Arianee, an open-source protocol for creating digital identities for valuable items, to issue these watch certificates. Every watch sold by the firm will come with a blockchain-based digital passport. The passport is automatically linked to Breitling’s digital warranty program. 

Breitling said:

With this blockchain-based digital passport, collectors no longer need to retain paper documents. And instead can freely consult with Breitling more efficiently and anonymously thanks to an embedded chat feature.

The digital passport will allow clients to extend their warranties, track repairs, request services. And subscribe to insurance for protection against theft. Furthermore, users could guarantee authenticity if they want to trade or sell on the secondary market.

Aside from Breitling’s latest innovation, French entrepreneurs and Tradeewatches Co-founders Guillaume Kuntz and Marc Ambrus also initiated Watch Certificate in spite of the Covid-19 pandemic. This includes a physical steel card that bears a QR code linked to a digital certificate.

This service enables clients to put a purchased watch through a detailed authentication and checking process. Kuntz explains this as the increasing creation of a passport for a luxury watch, which can be viewed through a phone app.

Moreover, the world’s biggest luxury group LVMH, collaborated with Consensys and Microsoft last year in developing its own blockchain platform AURA. Through this network, customers can access the product history and proof of authenticity of luxury goods.

 

OKEx Suspends Withdrawals Amid Security Investigation

OKEx Suspends Withdrawals Amid Security Investigation

OKEx, a leading Asian cryptocurrency exchange has caused selling panic in the crypto market. However, suddenly after suspending its service to cooperate with an investigation.

Chinese news agency Caixin reported that one of the founders of OKEx, Mingxing Xu (also called Star Xu), has been questioned by the police. Moreover, the executive was investigated “at least a week ago” and also was absent from work sometimes.

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Many top cryptocurrencies are sold out. On the news with the price of bitcoin on OKEx decreasing 3% in 30 minutes. Furthermore, touching $11,182 Friday morning, prior starting to rebound to $11,326 at last check.

In an accompanying notice on its website, the exchange displayed that one of its private key holders was “currently cooperating with a public security bureau in investigations where required.” The concerned private key holder had been out of contact with the exchange.

According to Red Li, the founder of China’s digital currency news release 8btc, OKEx had first announced it would terminate withdrawals by 15 PM but later changed it to 11 AM.

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In March 2020, OKEx suffered a system failure. It caused its perpetual swap order book to lag for a short duration. The exchange assured to reasonably compensate any users who had failed transactions due to the failure.

Decentralized Finance (DeFi) market cap slides 25% in a Day

Decentralized Finance (DeFi) market cap slides 25% in a Day

The decentralized finance (DeFi) assets have continued to fall by 25.1% while volumes shrunk 30% in the last 24 hours alone according to data from Santiment.

Santiment estimated that daily DeFi token trade volumes have dropped by 30% combined. However recent market leaders Sushi (SUSHI), Yearn Finance (YFI) and Uniswap (UNI) are among the hardest hit. With weekly losses of 51%, 31% and 38% respectively.

The report reads,

“The crypto market has been engulfed in a sea of red this week, with most DeFi blue chips recording double digit losses over the past 7 days.”

However noting that crypto-Twitter has already emphatically explained the death of the whole DeFi project. Santiment claims to have identified whale accumulation activity taking place around several DeFi assets including Synthetix (SNX).

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Santiment also mentioned that the combined price of DeFi assets. At the time they last moved on the MVRV blockchain has decreased. To an all-time low, “indicating undervaluation” at current price levels.

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More like Bitcoin peaked to $20,000 in a rapid climb in 2017 on a speculative aspect, the coin then fell and faced a bearish market for more than 18 months. The same may happen with DeFi. It could drop down to a low point, but then rise up again in a sustainable manner. 

 

Ethereum (ETH) Price Started Sharp Decline Towards $310

Ethereum (ETH) Price Started Sharp Decline Towards $310

Key Takeaways:

  • Ethereum (ETH) reached near the $370 resistance and dropped sharply.
  • ETH technical indicators and high trend-line.
  • Ethereum price prediction in 2021.

 

Ethereum (ETH) reached near the $370 resistance and dropped sharply towards $350 showing bearish signs and it might continue to drop down.

ETH might be somewhat less popular than Bitcoin. Unfortunately, this hasn’t stopped the second biggest cryptocurrency in the world from gaining a few profits over Bitcoin. However, according to Coingecko, ETH price is $346.6 at the time of writing. 

Ethereum (ETH) Price Analysis (Sept 28 to Oct 4)

Last week, Ethereum surpassed the resistance level of $355 and $360. In addition, ETH price failed to gain bullish momentum above the $370 and $375 resistance level. And alsoether price started a sharp decline. 

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It broke the $355 support level and moved into a negative zone. There was also a break below a major ascending channel with support near $355.

The price tested the $335 support zone, where the bulls took a strong stand. Recently, there was an upside correction above the $340 level. Ether traded above the 23% Fib retracement level of the downward move from the $369 high to $336 swing low.

If Ether fails to stay above the $335 support, there is a risk of a sharp decline towards the next major support at $315 or $310. Any further losses could affect the price towards the $300 support.

Ethereum (ETH) Technical Indicators

MACD – The MACD for ETH/USD is moving into the bullish zone slowly.

RSI – RSI for ETH/USD is well below the 50 levels.

Support Level – $335

Resistance Level – $355

Ethereum (ETH) High Trend-Line

ETH/USD has been one of the surprises of the post-March collapse. Broken above its June 2019 high, while BTC is lagging. Despite the success, there is a particular pattern that holders want to see breaking upwards.

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Higher High trend-line meet on the 1W candles of August 20, 2018, June 24, 2019 and recently August 21, 2020. The middle of the Channel will serve as a Resistance/ Support level at times. Every Higher High is on the 1.15 Fib extension of the previous Low-High leg.

Ethereum (ETH) Price Prediction 2021

For instance, zooming out and looking towards Ethereum’s macro price action. Analysts observed that ETH price may reach $5.5k in 2021. 

The Analyst mentioned in a tweet,

$ETH 2021 Chart..the overall upside momentum and possibility over the coming years could be $5500 target.

Ethereum’s firm price prediction in 2021 is $500. Furthermore, it may also reach between $600-$800 come January 2021.

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Ethereum Price Prediction 2021

Ethereum’s bullish prediction for 2021 is within $800. However, this is evident from the double in price observed from March until August. This may be possible as the DeFi market continues to thrive amid many exchange listings. Moreover, many exchanges today are supporting various DeFi activities, especially yield farming.

Miners Earned $166M ETH Fees Were Six Times More Than BTC

Miners Earned $166M ETH Fees, Six Times More Than BTC

Glassnode data shows Ethereum’s total transaction fees recorded their highest-ever earnings in September 2020, stood at an all-time high of $166 million for the month which is more than the $26 million taken in Bitcoin fees.

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Glassnode Tweet on Ethereum Transaction Fees

The major factor behind this rise is the growth of the decentralized finance (DeFi) market in the crypto space. Moreover, miners are individuals or entities who use computing rigs to maintain and mine blocks on proof-of-work cryptocurrencies for rewards.

Some miners explained that much of the growth came as increased trading activity in low-cap DeFi projects and non-fungible tokens. For instance, the Ethereum price is at $352.45 with a 24-hour trading volume of over $14.1 billion, according to Coingecko.

As per data, in March and April Ethereum miners made an average of $4 million in fees. However, Miners pocketed $22 million and $32 million in June and July respectively as the DeFi industry started to gain steam due to the launch of lending protocol Compound. 

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Total Transaction Fees: Ethereum vs Bitcoin (Source: Glassnode)

At the start of 2020, the monthly Ethereum fees were just $1.5 million. This is similar to total value locked (TVL) in DeFi, which first broke the $1 billion in February but surged over $11 billion in summer, according to DeFi Pulse.

XRP Investors Reveals Strategy to Identify Highly Profitable Crypto

XRP Investors Reveals Strategy to Identify Highly Profitable Crypto

  • Crypto Bitlord identifies macro trends as part of his strategy to identify highly profitable cryptocurrencies.
  • According to the analyst, Polkadot and Kusama could be projects with great potential.

The early XRP investor, Crypto Bitlord, remembered in the 70th edition of Going Parabolic the days before the all-time high of the Bitcoin price and spoke about his experience in identifying trends and crypt0currencies with the potential to achieve exorbitant returns.

Crypto Bitlord entered the crypto market in 2012 and was one of the investors who bought the digital asset XRP for $0.008. At an all-time high, XRP rose 50,000% to $3.84. The investor said that before this rally, the community focused its attention on individual aspects of the fundamentals that make up the value of XRP:

It was going through all of that period of everybody just, all the Bitcoin people just hating on it, destroying it, slandering it left, right, and center, and I’m saying ‘Look, it doesn’t matter what you want to think of a banker’s coin. It’s the fucking dumbest thing I’ve ever heard. Just have a look at what they’re doing here. There’s some potential here. Back it.

Crypto Bitlord collects information, reviews, fundamentals, and other data that supports the value of an asset and its potential to rally. The investor stressed the importance of waiting for the right moment in the market. In addition, he considers the most popular tokens currently being traded to be scams. In reference to the growth of the DeFi sector on Ethereum, the investor added:

But the thing is that sometimes you trade these things. That’s how it is, if you want to make a living trading this stuff. Look at the stock market, there are scams there. The thing is, you have to know how to do it. That’s crypto, a lot of things are scams. Some people argue that XRP is a scam.

New projects with the same potential as XRP

The investor believes that the world is on the verge of massive adoption of Bitcoin, XRP, and other cryptocurrencies. Therefore, he has continued his strategy of looking at market trends at a macro level. The investor claims that market activity has been slow in 2020. Therefore, he has focused on finding a “blue chip” in new projects like Polkadot and Kusama.

Like Ethereum, these projects have features that make them stand out from the competition and help investors distinguish them from scams. For example, the investor claimed that these projects have community support, developers, infrastructure, and financing:

You’re really investing in the team, not just the idea. When you have a solid team, when you have something solid like Polkadot or Kasama you have little chance of losing everything. I call them blue chips. You can put money in there for a year.

Source: https://www.crypto-news-flash.com/early-investor-of-ripple-xrp-reveals-strategy-to-identify-highly-profitable-cryptocurrencies/

Beowulf Blockchain List its Own Token on Bittrex

Beowulf Blockchain List its Own Token on Bittrex

Beowulf Blockchain has announced the listing of its own coin on Bittrex Global exchange starting on September 24, 2020.

Beowulf, a business-to-business decentralized cloud network for communication services. The company brings transparency and immediately-available solutions for all users and business customers in many fields.

Through the listing, Beowulf will decentralize the ownership of the blockchain. It will also provide a unique opportunity for people and organizations around the world to become supernodes. However, allowing the Blockchain to distribute 100 million BWF coin (worth $1M USD) to the community within two weeks after the listing. 

Moreover, Beowulf will work with the exchanges to establish a supernode network. Users can stake their holdings together to form supernodes. Therefore, earning block rewards (BWF coins) and transaction fees from the company is simple and seamless.

Beowulf Blockchain CEO Dr. William H. Nguyen said,

“With the support of industry-leading partners, Beowulf Blockchain will be able to completely disrupt the enterprise communications industry by providing a better video-quality, more efficient, and lower-cost video conference services to end-users worldwide.”

Recently, Beowulf Blockchain has also partnered with FHL Games, the leading games and digital content distributor in Latin America. The company also forged partnerships with many prestigious educational organizations and corporations worldwide to deploy QUICKOM, TUTORICA, BIPLOMA, and other advanced technology platforms.

Seoul Police Seized South Korean's Crypto Exchange Bithumb for Third Time

Seoul Police Seized South Korean’s Crypto Exchange Bithumb for Third Time

Bithumb, the largest cryptocurrency exchange in South Korea, was reportedly raided for the third time, by Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit.

Police reportedly seized a number of shares in Bithumb Holdings. Despite this, the holdings belongs to Bithumb Korea Director Kim Byung-Geon. In contrast, the seizure action granted by the Seoul Central District Court on September 14.

Hence, the investigation was after it allegedly sold its native BXA tokens for over 30 billion won ($25 million). Although, the sale is based on a former takeover deal with the Bithumb Korea Group. 

As per the Blockchain Transparency Institute (BTI) report, Bithumb was ranked fourth in the world. Furthermore, second in Korea based on the daily trade volume. According to Coingecko, the exchange supports 108 cryptocurrencies and 109 trading pairs. Despite, with a 24-hour trading volume of $235 million, at the time of writing.

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Exchange Ranking By 24-hours Volume (Source: BTI)

At the beginning of September, the trading volume of Bithumb was over 600 million. Currently, the trading volume reduced to 250 million.

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Bithumb Trading Volume 14-Days (Source: Coingecko)

The exchange’s initial raid happened on September 2, and the second raid on September 7. Samjong KPMG, beginning of this month completed a letter of intent (LOI). By the way, explaining that it planned to sell its own stake in Bithumb Holdings.

Likewise, last month South Korean cryptocurrency exchange Coinbit was seized by police. For allegedly making false transactions to obtain 100 billion won ($84m). 

Fisco Sued Binance for Illegal Laundering Over $9M

Fisco Sued Binance for Illegal Laundering Over $9M

Fisco representatives filed a complaint on Binance in the Northern California District Court for the stolen funds from Zaif seeking the return of over $9 million.

In the 2018 hack, Fisco, the Japanese exchange has lost nearly $60 million worth of crypto. This includes some units of Bitcoin (5966), Bitcoin Cash, and Mona coin is Japan’s first native cryptocurrency.

However, the hackers sent 1,451 bitcoin to an address that belongs to Binance. Binance, the world’s largest cryptocurrency exchange. The total bitcoin worth was $9.4 million at that time. Zaif is the name of exchange during the hack.

Fisco explains that Binance uses Amazon Web Services (AWS). AWS is to host the exchange’s servers. It has the ability to select whichever AWS data center for its operations. Since most of the infrastructure is in California the jurisdiction was in Northern California District Court.

The laundering happened due to Binance’s allegedly lax know-your-customer (KYC), and anti-money laundering (AML) protocols. These do not measure up to the industry standards. 

Fisco said,

“Binance failed to implement security measures that were standard throughout the industry.”

Either intentionally or negligently Binance did not stop the transfers. Even though it had the chance to do it. Fisco demands Binance to pay for its loss of the laundered funds. Zaif, and its customers suffered financial losses as a result of Binance’s lack of action.

Similarly, the Financial Action Task Force (FATF) found that Binance has weaker regulation. This has been singled out by them for often moving to avoid stronger regulatory oversight.

Binance has involved in a series of recent class-action lawsuits. One among them was the class-action lawsuit against the exchange was filed in the Southern District of New York. Recently, Binance has also delisted the exchange’s own native token BNB.