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Why Gate.io is a go-to platform for new crypto start-ups

It’s long past the age where exciting new ventures are reserved for specialized firms such as venture capital and private equity funds. New platforms are trying to democratize early-stage equity investing, but many early-stage financings lack essential liquidity and transparency. Many firms and retail investors turn to cryptocurrency exchanges and Initial Exchange Offerings, but these alternatives often fall short in terms of security and accountability. Gate.io Startup emerges to keep the best of both worlds by offering safe, trusted, and liquid early-stage investment IEO offerings with an exceptional record of high-performing startups. 


A portfolio of growth and consistency

In just a few years, Gate.io Startup projects have proven themselves with their performance since making their debut on Gate.io.  TotemFi has recorded a 45900% ROI with Cook (COOK)  coming second with a 3947.5% ROI. Some other examples include Yield, Oxycoin, and Hapi who have soared 3688%, 3391.2%, and 2367% respectively. These results represent a fraction of the many impressive turnouts of the projects that have been supported by the exchange. Gate.io doesn’t just have a few successful projects to brag about but strives to create a level of consistency across all projects. Their effort was not wasted as the average earnings rate of all projects hit 971.53%. 

Not just a filter but a partnership

Cryptocurrency is often known for its many scams or unsustainable growth. Gate.io has been enforcing a strict review process since day one and this has been received by the growing community of users who trust the platform. The platform strives to continue to protect this trust across all its services. That said, Gate.io Startup doesn’t just act as a filter through rigorous auditing but also actively helps these dedicated teams of entrepreneurs succeed through improving the security of the platform, the efficiency of the listing process, and many other seemingly insignificant but often decisive factors. One of the projects that launched on the platform early this year, the project DAO, has seen over 66x profit from only 0.1 USDT to 6.69 USDT just in a month. Gate.io Startup not only ensures the quality of the projects but strives to help these projects maximize their potential. 

Data-backed liquidy and quality of the exchange

As recorded by CryptoRank.io, Gate.io outperformed other centralized cryptocurrency exchanges with respect to the overall success of its backed startups. The exchange was ranked second only to Binance per the Average All-Time High (ATH) ROI of 151 analyzed projects. Furthermore, CoinMarketCap’s rank the exchange as the 8th largest with a liquidity score of 401, and over 565 coins listed. 

Along with the platform’s longstanding reputation and proven performance, Gate.io Startup has brought new waves of growth in Gate.io’s native token GT Token. The token has surged over 85% in the past week representing a 1498.19 increase from its lowest point a little more than a year ago. Furthermore, GT Token gives investors exclusive participation rights and benefits in the startup projects making it attractive to all investors. The growing popularity of GT Token, the reputation of the exchange, and the quality of projects generate a positive feedback cycle taking Gate.io to new heights.


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Source: Bitcoininst

The Real Reason Behind Bitcoin Explosive Rally is Not Coinbase But Inflation

Bitcoin surged past $64,500 this week, shattering yet another record-high milestone after a month of downside consolidation, over sentiments that a fresh Wall Street listing of one of the leading crypto firms, Coinbase, would attract more wealthy investors to the booming sector.

Bitcoin reaches another lifetime high. Source: BTCUSD on TradingView.com

Bitcoin reaches another lifetime high. Source: BTCUSD on TradingView.com

But the flagship cryptocurrency borrowed its bullish cues from elsewhere, as well. On Tuesday, the US Bureau of Labor released March’s Consumer Price Inflation data, showing that the index rose by its most in nearly nine years, led by pent-up demand and rising fuel prices as the US economy continued to recover from pandemic-driven lockdowns.

Beating Expectations

The labor department noted that inflation rose 0.6 percent in March than February, making its quickest pace since February August 2012. According to Reuters’ poll, the outcome beat economists’ expectations of a 0.5 percent raise. Meanwhile, the headline inflation surged 2.6 percent against the expectations of a 2.5 percent raise.

Kathy Bostjancic, the chief US financial economist at Oxford Economics, said that inflation could rise to 3.5 percent this year.

US Consumer Price Index  12-Month Percentage Change. Source: US Bureau of Labor Statistics

US Consumer Price Index 12-Month Percentage Change. Source: US Bureau of Labor Statistics

Bitcoin behaves bullishly against inflation fears. The cryptocurrency’s massive upside move after its mid-March crash came on the prospect that the US dollar — with time — would lose its purchasing power. That was due to the Federal Reserve’s decision to slash down benchmark lending rates near zero while launching an unlimited bond-buying program to cushion the US economy from the pandemic-led recession.

Later, the Federal Open Market Committee ruled out that it wants to push inflation above 2 percent in the future. That further prompted investors to increase their exposure in the Bitcoin market thanks to its limited supply cap of 21 million tokens. Even firms like Tesla and MicroStrategy added billions of dollars worth of bitcoin tokens to their otherwise cash-based balance sheets.

Preparing Grounds for Bitcoin Adaption

Meanwhile, mainstream financial services saw potential demand for bitcoin from institutional investors. In turn, Morgan Stanley and Goldman Sachs announced crypto-enabled investment services for their wealthy clients. Global payment giant PayPal allowed bitcoin checkout on its legacy payment platform in addition to the option of buying, selling, and storing the cryptocurrency.

Bitcoin’s latest climb above $64,500 came on the heels of confirmed inflation growth.

Investors continue to watch whether the rising prices are transitionary or are here to stay. They attempt to realize how long the Fed could continue its ultra-accommodative stance, including a $120bn monthly purchase of government bonds and mortgage-backed securities. So far, the central bank has clarified that it does not wish to raise rates until 2024.

The stance remains long-term bullish for Bitcoin.

Photo by Jp Valery on Unsplash 

Source: Bitcoininst

NFT Game Chainbinders by Doki Doki Raised $5 Million in Under Two Hours

The Chainbinders game based on a liquid NFT economy has attracted over $5 million in investments over the first two hours of its liquidity generation event. A total of $3.8 million equivalent in the game’s native BND utility tokens were sold in under 15 minutes. The project found immense success among crypto users as the team managed to raise $6,2 on the first day of the LGE due to the project’s high production quality, innovative game-theory mechanics, and a hyper-deflationary tokenomics model.


Chainbinders is the latest NFT product by Doki Doki DeGacha inspired by the popular Japanese Gachapon ( ガチャポン), where players receive random collectibles from vending machines. Roy Blackstone, Creative Director at Doki Doki, explained that Chainbinders combines the elements of game theory, art collecting, gacha, and anime. He added:

“At its core though, Chainbinders is an NFT game experience the likes of which has never been experienced before, and likely never will be experienced again. We’re creating original IP and characters (a massive cast of 15 of them!), giving them each their own backgrounds, lore, stories, motivations, and then gamifying them on the marketplace with some clever token mechanics to make sure these NFT’s have instant liquidity and actual value.”

The game is a post-apocalyptic metaverse with 15 unique characters called Chainbinders, who acquire mystical powers that have allowed them to survive after chaos gripped their homeworld. The Chainbinders seek their collectors – individuals with the ability to restore the characters to their full strength. More than 50 people ranging from artists, writers, musicians, and blockchain developers are said to be involved in the production of Chainbinders.

Players will be able to use the native BND utility tokens for rolling in-game Chainbinders Gacha – online vending machines. The BND tokens used for each roll are permanently burned as part of the token’s hyper-deflationary economy. Such an approach is intended to ultimately reduce the amount of BND in circulation after launch, increasing their end-value for players.

Each Chainbinders Gacha offers players a choice of over 100 cards of in-game universe items and characters, with 15 of them being Legendary-level Chainbinders of extreme rarity. The limited card quantities, roles, backstories, items, extensive lore, and abilities of each Chainbinder make them highly sought-after characters, and players have the ability to further augment them using more than 100 of the unique artifacts and items attributable to each.

A percentage of total liquidity pool reserves maintains the value of all Chainbinders cards with the rarity of each raising its percentage proportionally. The token economy also includes novel token-burning mechanisms that activate on-demand liquidity for each of the NFTs, allowing players to burn their tokens or instant value and receive 85% of money spent back. The irreversible nature of the process decreases the total quantity of tokens in circulation, thus generating greater returns for holders in the future.

The LGE will continue under May 1, with all BND tokens to be made accessible to players in-game immediately afterward.


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

 

Source: Bitcoininst

Daily Bitcoin Transaction Volume Thriving, Nears Milestone $10 Billion

Bitcoin price is booming but there’s still the same old argument that remains: “nobody uses the top cryptocurrency for actual transactions.” While the claim has long been solid due to the asset acting more so as a store of value, daily transaction volume has also been soaring, nearing a milestone $10 billion.

Here’s a closer look at how the ecosystem is thriving , from miner revenues and much more, and how they all factor into the cryptocurrency’s continued global dominance.

Bitcoin Transaction Uptick Brings Network Near Milestone $10 Billion

The recent ongoing crypto market rally has cemented the asset class as a real contender in the finance space, with Bitcoin dealing a major blow to gold and setting sights on the dollar itself.

Bitcoin was designed initially to replace cash, acting as the first ever digital system for such built on a peer-to-peer network. In its early days, the cryptocurrency was used to buy things like pizzas or drugs on the dark web, but once it started to show its value, people instead began to store it, or what the crypto community calls “HODL.”

RELATED READING | EASY AS PI: BITCOIN INDICATOR SAYS THE TOP IS IN

That has left most pundits sticking to the asset’s biggest flaw: few are using it for actual transactions. However, that’s all changing. Today, the Bitcoin network is sending larger transactions than ever before at a high price per coin. The average transaction made in BTC now averages around half a coin, or around $32,746 – up 20% from just one week ago.

bitcoin daily transactions volume

The Bitcoin network is as healthy as ever, according to most standards | Source: Arcane Research

Total daily transaction volume is also now approaching more than $10 billion each day sent across the network. The number of transactions each day is also up slightly, adding to the metrics.

Data: Diving Deeper Into The Cryptocurrency Network Ecosystem

Miners are also now taking in roughly $5.5 million each day in revenue from fees generated in BTC – a now booming business opportunity. According to ByteTree, nearly all major blockchain network metrics are in the green, with 30-day volatility notably down.

bitcoin trasnactions btc

Bollinger Bands could soon release volatity, right as a top signal has appeared | Source: BTCUSD on TradingView.com

That volatility should soon see a storm of change one way or another soon enough. From a technical standpoint, the Bollinger Bands are at historical tightness, coiling up for what should be an enormous move. Another technical tool says the top could be in, but that doesn’t mean the cryptocurrency can’t surge another almost 100% from current levels before its all said and done.

RELATED READING | DATA: BITCOIN BULL RUN MAY BE LESS THAN ONE-QUARTER COMPLETE

With the Coinbase listing within hours, Bitcoin now well above $60,000 and so much going on fundamentally in the world of crypto, a transformative breakout that defies all technical odds could be next.

Featured image from ShutterStock, Charts from TradingView.com

Source: Bitcoininst

DeFi Is Changing: And It’s for the Better

As the term suggests, decentralized finance is the rapidly growing field of decentralized financial tools and platforms — many of which provide access to crucial services that are scarcely available in many regions. As a rapidly growing industry, the DeFi landscape is iterating at a pace that few can keep up with — with increasingly novel applications and products seemingly emerging on a daily basis.  But amidst the mania, several trends are beginning to emerge in the DeFi space, which looks likely to set the tone of what lies ahead. 


Real-World Value

Until only recently, decentralized finance was the domain of cryptocurrencies and tokens (both fungible and non-fungible). Beyond simple links to the world of traditional finance (TradFi) through oracle services and fiat to cryptocurrency gateways, there was little connection between DeFi and TradFi.  But that’s beginning to change as a number of promising upstarts look to bridge the two financial spheres to produce a range of ever-more capable DeFi applications. 

Among these, BondAppétit is emerging as an innovator. The platform offers a USD-pegged stablecoin that is backed by real-world debt instruments that generate a fixed income. The stablecoin, known as Appetite USD (or USDap), is unique in that has liquidity pools supported by real cash flow — ensuring users are safe in the knowledge that their funds are backed by more than simple dollars depreciating in a custodial account somewhere. 

Though cryptocurrencies can be valuable due to their scarcity, utility, collectability, and myriad other reasons, retail investors, firms, and governments are accustomed to more traditional financial instruments. By bridging these to the blockchain through a range of novel DeFi applications, we may open it up to more legacy financial players — which have the capabilities to help it expand to the masses. 

Composability in DeFi

Composability has become somewhat of a buzzword lately. Without getting into too much detail, it’s the property that allows different DeFi applications, products, tools, and services to be connected to form more elaborate application networks — which can achieve more than any single application operating alone. 

It’s also becoming a major focus of both newer and established DeFi applications, which look to stack with other applications to offer additional functionality to users and explore increasingly innovative use cases. Being decentralized, users can leverage the capabilities of multiple DeFi applications in tandem to do more with their cryptocurrencies — maximizing their yields, boosting security, and managing their assets in ways that were previously not possible. 

Because of this, DeFi is becoming more like world traditional finance services, in that using one service (e.g. PayPal) automatically opens access to dozens of others — such as e-commerce, personal payments, online insurance services, and more. This has the knock-on effect of both reducing exclusivity and increasing utility for users of all the services involved in a DeFi application stack.

All in all, it makes the cryptocurrency industry more accessible and intuitive to get around. 

Now, there are numerous platforms building composability into their modus operandi — including Kira, a blockchain that lets users stake assets from a wide range of other blockchains; and Premia — a platform that allows users to create and trade options for a range of supported cryptocurrencies as Lego-like ERC1155 tokens, which can be used in external DeFi apps. 

Security Is Coming into Focus

The cryptocurrency industry is built on the premise of security and self-sovereignty above all else — it’s the reason why cryptocurrencies like Bitcoin (BTC), Monero (XMR), and Terra (LUNA) have achieved such astounding success. 

But though the technicalities of keeping a blockchain secure largely rely on the strength in numbers approach offered by battle-tested consensus mechanisms like Proof-of-Work (POW) and Proof-of-Stake (POS), the security of DeFi applications also relies on the integrity of the underlying code — which can vary considerably in its scope and effectiveness. 

Audit reports are a simple way to gauge the safety of a DeFi protocol. (Image: Certik)

Audit reports are a simple way to gauge the safety of a DeFi protocol. (Image: Certik)

As a result of this variability, a number of poorly secured DeFi applications have been exploited in the last six months, including PAID Network, Dodo, and Pickle Finance — all of which suffered multi-million dollar losses as a result. The culprit? Poor code (in most cases). 

However, for the industry to grow stronger, an example must always be made of platforms that don’t go far enough to secure users or their funds. The failure (and potential recovery) of these platforms then sets the tone for other innovators — who know to buckle down and prioritize security prior to launch, rather than leaving it as an afterthought. 

Thankfully, the pace of such attacks has slowed markedly in 2021, as users demand proper code review, extensive security audits, and real purpose before using new applications. 

Source: Bitcoininst

The Simplest Bitcoin Analysis as BTC/USD Refreshes Milestone High

A quick look into the world’s leading cryptocurrency Bitcoin and what’s ahead for it as it achieves another lifetime high.

And So It Goes, And So It Goes

In retrospect, the BTC/USD exchange rate reached $62,750 ahead of the European opening bell on Tuesday. Some traders really showed their conviction for an extended bullish bias in the Bitcoin market. The previous top, near $61,778, now looks less like resistance and more like support, preparing the price for another leg up towards $65,000, $70,000, and maybe even $100,000.

On the other hand, the prospect of traders securing profits near local tops offset upside convictions. As the bitcoin price rallies monumentally, it becomes riskier for some to buy it at sessional peaks. Bitcoin’s response to parabolic upside moves throughout its twelve-year lifetime has resulted in yearlong bear markets.

Of course, this time, Bitcoin appears more mature as an investment asset thanks to the influx of many corporates and financial services into the cryptocurrency sector. For instance, the cryptocurrency looks definitely overbought based on its technical indicator readings.

Bitcoin Relative Strength Indicator is above 70, altering about overvaluation risks. Source: BTCUSD on TradingView.com

Bitcoin Relative Strength Indicator is above 70, altering about overvaluation risks. Source: BTCUSD on TradingView.com

Nonetheless, any attempt to correct the bitcoin price by more than 30 percent from its sessional top prompts intervention from MicroStrategy, a Nasdaq-listed business intelligence firm now holding more than 91,000 BTC on its balance sheet.

The Lion Still Has Claws

The Michael Saylor company buys Bitcoin every time its price even attempts a bigger and better bearish breakdown. It even raised a billion dollars through private debt sale with a clear intention to use the proceed to buy bitcoin.

MicroStrategy’s last popular bid for the cryptocurrency was just shy of $59,500. So, from what it appears, the company won’t like it when retail traders/investors would want to take the prices anywhere below $59,500. That makes the level fundamental support, given Mr. Saylor manages to raise more funds to protect the support with another big BTC buyout.

But even if the CEO outright ignores a breakdown below $59,500, given MicroStrategy has almost more than doubled its bitcoin investments in the US dollar terms, the cryptocurrency expects to survive a bloodbath scenario by holding $59,000. Here’s what Crypto Cred, an independent market analyst, has to say about the next potential sell-off.

“We have a weekly [support] level at $59,000 […] On the daily timeframe, we can see – by the miracle of science — that that weekly level is also the daily level.”

Bitcoin holds $59,000 as support on daily charts. Source: BTCUSD on TradingView.com

Bitcoin holds $59,000 as support on daily charts. Source: BTCUSD on TradingView.com

So, for now, the $59,000-level, with some help from bitcoin superhero Mr. Saylor, are holding Bitcoin from going anywhere lower. Mr. Cred, however, mentions that a potential sell-off that leads the cryptocurrency below $59,000 would have it test the next levels near $57,000 and $54,000.

That’s all, folks!

Photo by Hello I’m Nik on Unsplash

Source: Bitcoininst

Bitcoin Price Breaches $61,000 Ahead of Key Inflation Figures; What’s Next?

Key Bitcoin Price Outlook

  • The bitcoin price briefly surged above $61,000 on Tuesday.
  • The climb surfaced as a part of an upside weekly session, as traders’ appetite for safe-havens surged ahead of key US inflation data.
  • Technically, the cryptocurrency shied away from confirming a price breakout to the upside.

Bitcoin rallied above $61,000 on Tuesday.

The flagship cryptocurrency’s upside move was brief but left traders more confident about extended gains. Changpeng Zhao, the CEO of Binance, noted that the traffic volume peaked on their trading platform following Bitcoin’s spike. That indicated that more traders rushed to online exchanges to buy Bitcoin or sell it to secure short-term profits.

Michaël van de Poppe, an Amsterdam-based market analyst, hinted that traders would willingly buy Bitcoin at its fresh highs. The social media influencer, followed by more than 210,000 entities online, said in a tweet that the bitcoin price could log a new record peak on Tuesday.

Bitcoin Against Key Inflation Data

Calls for a higher bitcoin price comes from investors and traders who believe the cryptocurrency would become a global safe-haven asset against inflation. Rising consumer prices are one of the biggest fears investors have from the post-pandemic market. If the inflation runs higher than anticipated, it could tarnish asset values, limit buying power, and sap corporate margins.

Bitcoin believers project it as a hedge against rising inflation, citing its 21 million supply cap as a viable tool against the Federal Reserve’s relentless quantitative easing policy. Later on Tuesday, the March Consumer Price Inflation data expect to report a 0.2 percent spike in core inflation, according to economists surveyed by Dow Jones.

Meanwhile, the March headline inflation expects to hit 2.5 percent, up from 1.7 percent in February. It was 2.5 percent last in January 2020.

Consumer Price Index (all items) 12-month percent change. Source: US Bureau of Labor Statistics

Consumer Price Index (all items) 12-month percent change. Source: US Bureau of Labor Statistics

John Authers, senior editor for markets at Bloomberg, cited BCA Research’s Dhaval Joshi comments on Bitcoin in his recent opinion editorial.

Mr. Joshi stressed that the Bitcoin price has risen in the previous 12 months due to its anti-fiat features. It is popular because of its “libertarian anti-government ideas” and its simpler-to-procure talents — the latter has made bitcoin a viable competitor to shiny metal gold, another hedging asset but with poor performance on record against rising inflation fears.

Technicals Watch Fundamentals

At least Wall Street is taking notice. The past few months have witnessed the arrival of new investors in the form of Tesla, MicroStrategy, Square, and other corporates. They have also seen investment giants like Goldman Sachs and Morgan Stanley announcing new bitcoin-enabled investment products for their wealthy clients.

Meanwhile, PayPal has announced support for cryptocurrencies via its legacy platforms. Bank of New York Mellon will also launch a bitcoin-based custodianship service later this year. Payment processing services Mastercard and Visa are also experimenting with cryptocurrencies, with the latter having performed a stablecoin transaction atop its existing money transmission layer.

Bitcoin awaits ascending triangle breakout to the upside. Source: BTCUSD on TradingView.com

Bitcoin awaits ascending triangle breakout to the upside. Source: BTCUSD on TradingView.com

Technically, the bitcoin price has not confirmed a bullish breakout move yet. The cryptocurrency continues to trade inside a bullish continuation pattern, nonetheless, instilling hopes that it would rise by another $20,000 in the coming session.

Photo by Jp Valery on Unsplash 

Source: Bitcoininst

Unicly To Allow Users To Combine, Fractionalize, And Trade NFTs With Guaranteed Liquidity

Capitalizing on blockchain technology, Unicly is deploying a novel protocol to fractionalize and pool liquidity for NFTs, allowing users to own portions of collections and resell them as fungible tokens.


A New Means To Combine And Split NFT Collections

Interest in NFTs has skyrocketed over the last few months, increasing the overall NFT market capitalization to more than $430 million. Several renowned personalities, including artists, performers, and content creators, are embracing this new way of monetizing their creations, collectibles, and artworks.

Although non-fungible token auctions have surpassed seven-figure bids, it isn’t accessible to a larger audience due to the rising costs of ownership. NFTs come in several different forms and representations with different values and varied demand levels, making it complicated to match buyers and sellers. Also, the fact that there can only be one of each NFT makes it considerably less liquid than fungible tokens. 

To overcome the drawbacks and make non-fungible tokens easily accessible for all, 0xLeia, the pseudonymous founder behind Unicly, has developed a unique protocol to combine, fractionalize, and trade NFTs with guaranteed liquidity. 

Unicly Redefines Ownership of NFTs

Unicly’s self-funded project implements sharding, a method of splitting large tables into smaller bits (shards) to ensure different sections of the current blockchain network. This methodology improves transaction speeds and adds scalability, allowing users to own portions of any set of NFTs and sell this fractional ownership as fungible tokens.

Unicly is an open, decentralized, and community-governed platform where NFTs meet DeFi. The platform’s new protocol enables the sharding of collections containing multiple NFTs using Ethereum ERC-721 and ERC-1155 standards. Every non-fungible token within a sharded collection will be treated as equal, unique, and irreplaceable items. 

Anyone with NFTs can create their uToken, representing a collection or bundle of NFTs. After the respective NFTs are deposited and locked into the smart contract, the owner of the uToken adds liquidity and the percentage of uTokens needed to unlock the NFTs. Once the preset percentage value is met, the NFTs are opened for bidding.

Solving The Significant NFT Liquidity Problem

Real-time market liquidity is one of the biggest problems surrounding the NFT ecosystem. Unicly’s novel protocol, built on top of previous attempts at fractionalized NFTs, delivers the long-awaited solution. Unicswap, its unique AMM DEX version of the famous Uniswap protocol,  will allow users to create their uToken collection, assign liquidity to the uTokens, and mine UNIC tokens through the UnicFarm liquidity pooling.

Since Unicly launched its mainnet a few days ago, the platform has become a hot topic in the blockchain ecosystem. Recent figures indicate that Unicly has already attracted $3.5 million liquidity for whitelisted pools in just four days. 

Additionally, the 24-hour volume of more than a million dollars places Unicly in direct competition with platforms like SuperRare, Rarible, and KnownOrigin. Since passing a major milestone in just days, Unicly’s overall capitalization of NFTs listed on its platform has now exceeded $20 million.

Backed by other major non-fungible token projects such as Animoca, Aavegotchi, and Sandbox, Unicly solves the liquidity problem of matching individual buyers and sellers by allowing uToken holders to vote and decide if they want to sell an NFT. 

The proceeds from the sale are then shared equally among all uToken holders. It eliminates incentives for NFT collections to depreciate through selective inventory churning while rewarding the best NFT collections through whitelisting, allowing the liquidity pool to mine the UNIC governance token.

With this potential in mind, several globally acclaimed collections have already joined the platform. Collections like uMask experienced rapid growth after NFTs were listed on the platform. Following an initial figure of $1 million, this collection of 85 Hashmasks saw its value rise 16-fold. 

Other popular brands and personalities already associated with Unicly include the award-winning national geographic photographer Chris McCann, who exhibits his uCM collection, and collections from DokiDoki, MoonCats, WAIFU, and the Nubians.


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.

Source: Bitcoininst

Easy As Pi: Bitcoin Indicator Says The Top Is In

Bitcoin price has finally closed a weekly candle over $60,000 on Binance for the first time in the asset’s history, marking the highest weekly close ever. However, just as such a moment is realized, a highly accurate top-sniping indicator with a three for three success rate has called the top of the current crypto market cycle.

But could picking the top in the powerfully trending cryptocurrency really be easy as Pi?

Pi Cycle Top Indicator Says It’s Game Over For Currency Crypto Market Cycle

Bitcoin price is clearly at an inflection point. After rising from $4,000 to more than $60,000 per coin in under a year, the uptrend has taken a long pause, sticking around the resistance level for several weeks now. Technical indicators are and have been extremely overheated; volume and volatility are dropping. All signs are pointing to a sizable correction, yet fundamentals in crypto are the strongest ever.

RELATED READING | BITCOIN WEEKLY MOMENTUM INDICATOR FLIPS BEARISH FOR FIRST TIME SINCE 2020

Even the most bullish on the industry are suddenly finding themselves wondering if a top of the current cycle could be in – even if if the market isn’t behaving like a normal top. Signs are mounting by the day, but picking a peak in each Bitcoin cycle isn’t easy. Or is it?

According to a highly cited “Pi Cycle Top Indicator” on TradingView, the highly accurate tool was able to just about perfectly call all three previous Bitcoin tops – and it has just appeared again with last night’s weekly close.

bitcoin btc pi cycle top indicator

The Pi Cycle Top indicator has given its only fourth ever signal in Bitcoin | Source: BTCUSD on TradingView.com

Bitcoin Market Cycles Tell A Tale Of A An Ultimately Bullish Endgame

Each time in the past, the signal has marked the peak of each cycle on higher timeframes. If the Pi Cycle Top Indicator goes four out of four for picking Bitcoin peaks, that doesn’t mean all is lost for the first ever cryptocurrency.

The most recent peak in 2017 saw the signal appear just one day ahead of the high for the cycle, and was within striking distance from the high. Very few moments passed between the time the signal appeared and the exact high.

bitcoin 2017 pi cycle top

The 2017 "bubble pop" was a near flawless call | Source: BTCUSD on TradingView.com

In 2013, the Pi Cycle Top Indicator missed the exact top, instead appearing on the second “double top” formation, before entering the longest bear market yet.

RELATED READING | STOCK-TO-FLOW CREATOR: BITCOIN CYCLE “NOWHERE NEAR THE TOP”

The anomaly that’s in bull’s favor, is the first 2013 peak. The signal arrived too early, and the trending crypto asset surged another 85% after the indicator said the top was in.

When the first ever cryptocurrency did eventually peak, it saw an enormous rejection, sending the price tumbling a full 82% in four days. Yes, only four days. An 80% correction in four days would see Bitcoin back at $12,000 for a brief point in time.

bitcoin 2013 pi cycle top 2

In 2013, Bitcoin kept going before an 82% correction. Then it did another 3-4x | Source: BTCUSD on TradingView.com

Considering the strong fundamentals and presence of institutional investors, anything that severe of a drop would likely be bought up in a fury, much like it was on Black Thursday just one year ago. Such a strong correction could purge all overheated indicators, shake out any remaining weak hands, and reignite interest for another more powerful leg up.

The Pi Cycle Top Indicator appearing in that case, wouldn’t be all that bad. If another 2013-like scenario plays out, Bitcoin would see a stomach-churning correction any day that would most certainly have the market thinking the peak was in.

If buyers stepped back in like they did in 2013, after short-term bottom Bitcoin rocketed back up another three to four times in price beyond the previous year’s high. In a similar scenario, the leading crypto asset could correct, but then after getting back above $60,000, would eventually see more than $100,000 per coin – a target that is more in line with analyst expectations.

Interestingly, the first 2013 Pi signal took place in April of that year, within two days from the signal appearing in 2021. Whatever the case may be, volatility is about to pick up in Bitcoin just as this top signal has appeared. Knowing all the past scenarios, which is the most probable to occur? Or is this time just pain different?

Featured image from Deposit Photos, Charts from TradingView.com

Source: Bitcoininst

Top Blockchain “Easter Egg” Projects to Look Out For

The crypto market has been experiencing an unparalleled amount of growth over the course of the last few months, as is best highlighted by the fact that since the start of 2021, the total amount of money that has made its way into the blockchain space has increased from around $760 billion to a whopping $1.95 trillion, thereby showcasing a growth of over 2.x.

However, despite this meteoric rise, there are still a number of quality projects that have continued to fly under the radar for one reason or the other. These platforms not only feature an amazing value proposition but also come laden with exciting technical frameworks, making them prime candidates for continued adoption as well as exponential monetary growth in the near future. So without any further ado, let’s take a look at some of the most underrated projects in the market today.


Superfarm 

Best thought of as a cross-chain DeFi platform that helps convert any crypto-asset into a Non-Fungible Token (NFT), Superfarm is unique in the sense that it allows users to deploy NFT farms without them having to know anything about coding or other technical matters related to this space.  In this regard, one can see that within just a few month’s time, the NFT market has grown quite exponentially in value, with some experts projecting its total cap to currently be in excess of the $1 billion mark.

Lastly, from the outside looking in, it appears as though SuperFarm is looking to tap into the global gamer market, which is currently touted to be 2.6 billion strong. It also bears mentioning the company has entered into a partnership with Animoca Brands, a prominent video game developer/publisher, that has helped create a number of popular NFT-centric crypto gaming titles such as F1® Delta Time, and the Tower Franchise.

Terra Virtua

In its most basic sense, Terra Virtua can be thought of as a blockchain-based digital collectibles platform that allows users to deploy various AR/VR-based features as well as provides them with a range of unique social, gaming, and creative experiences. The project has been gaining a decent amount of traction since the start of the year, with Binance announcing its decision to launch Terra Virtua (TVK) trading by offering users the TVK/BTC and TVK/BUSD pairs.

GoodDollar

With 1.7 billion people unbanked and living outside the formal financial system, GoodDollar is on a mission to stop an inequality gap from forming in the digital asset space. Led by the team at eToro, and Anna Stone, GoodDollar is primed to be one of the projects that continues to push the blockchain space forward.

So far, over 50,000 have been claiming their GoodDollar universal basic income (UBI) in 180+ countries. They’re definitely one to keep an eye on, especially if you have a soft spot for financial inclusion and projects that are oriented towards making massive social impact.  

ethbox

In its most basic sense, ethbox can be envisioned as being a smart contract-based escrow platform that users can employ in order to transfer ETH in a highly safe and secure manner. Thanks to its completely trustless design, the platform is able to deliver a high level of transparency, and accessibility all while allowing users to minimize the possibility of any transaction errors. 

Another core aspect of ethbox is that it utilizes an intermediary smart contract to facilitate customer transactions. In this regard, the contract holds on to any funds while it verifies the details of the recipient and sender, making sure that the wallet address inputted by the sender always matches the details of the intended recipient.

Pylon

Pylon is an interesting crypto project that allows users to not only invest in the ever-evolving DeFi market but also enables them to mine ETH. In this vein, it should be pointed out that the company currently boasts of one of the largest Ether mining operations in the United States today.

Also, it bears pointing out that Grim Reaper, the pseudonymous creator of Pylon.finance, believes that the upcoming Ethereum Improvement Proposal (EIP 1559) — which seeks to cut miner reward ratios by 50% — may not be the best way to mitigate the platform’s existing gas fee/congestion issues and that he is ready to embrace whatever decision the ETH dev team takes, even transitioning to mining other tokens when Ether finally switches over to a Proof-of-Stake structure.

Orbs

It is no secret that up until now most liquidity pools have required users to provide asset backing on both tokens that they may be using as pairs (i.e. USDT and ETH). However, with Orbs, users can simply provide liquidity for one pair, while someone takes care of the other pair, thereby minimizing risks related to impermanent loss. For example, one user can supply USDC to a particular pool while another individual can supply ETH, all while allowing both users to reap yields that match their expectations. This type of innovation is what makes Orbs an Easter Egg project to keep your eye on. 

Additionally, Orbs has been listed on top exchanges like KuCoin, FTX, and more lately which ultimately stabilizes their entire network as a PoS system. 

CVI

Crypto VIX is a first-of-its-kind index that tracks the volatility of the crypto market. Not only that, it also doubles up as a DeFi platform that provides traders with a set of advanced tools. The platform comes replete with its very own governance token — called GOVI — which participants can use to vote on the structure of the index as well as on the platform’s fee-sharing structure. That being said, probably the core benefit of owning GOVI is that it allows participants to get rewarded for contributing liquidity to the CVI ecosystem. 

KIWIE

A relatively lesser-known NFT project when compared with its contemporaries, KIWIE is the brainchild of a Latvian street artist who goes by the same name. He is currently on a mission to go around the world and spray paint his famous ‘Fat Monster’ character across 1001 unique locations globally and minting a geo-tagged NFT for each of these separate creations. The first batch of 5 NFT’s will list on Rarible come April 13th. 


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Source: Bitcoininst