Crypto Guides, Knowledge & Insights

Nexo-backed NFT technology provider, MetaQuants, launches real-time appraisal algorithm for NFTs

Nexo-backed MetaQuants, a provider of NFT solutions, has introduced their algorithm product in order to support real-time collateral assessment for NFTs, marketplace, and wallet analytics.　　The alpha version of the new algorithm product is intended to enhance NFT lending, market, overpricing, and market manipulation penalties. As a result, the algorithm product is well-suited to Nexos planned non-custodial infrastructure.　　MetaQuants has recently launched a number of solutions aimed at increasing transparency, accuracy, and risk management in the volatile virtual world, aided by Nexos financial and strategic investments.　　Furthermore, MetaQuants has recently begun a funding round in order to raise funds to expand its staff and product offerings.　　Notably, Nexo, a leading regulated institution for digital assets, believes in a real-time mark-to-market NFT algorithm that provides efficient valuation estimates for assets susceptible to market manipulation for its retail and corporate customers. Notably, MetaQuants innovative technology enables the implementation of such a technique and may be used by Nexo.　　Over time, the company has made efforts to expand its presence throughout Asia. In July, it inked a deal sheet for a potential acquisition with Vauld, a Singapore-based blockchain firm. Furthermore, due to the market conditions devastating the cryptosphere, Nexo expressed interest in acquiring assets Celsius in June.

2022-11-05Deep Dive

What Is a SubDAO? A Way To Keep Governance Decentralized

Heavyweight DeFi protocols MakerDAO and dYdX are thinking about changing their governance structures.　　Blockchain protocols are frequently governed by decentralized autonomous organizations (DAOs), a group of individuals who manage the groups treasury in order to decentralize decision-making. However, as a protocol grows in size and more money is at stake, DAOs are being forced to incorporate bureaucracy.　　MakerDAO and dYdX, for example, have both been actively experimenting with the concept of subDAOs.　　What is a SubDAO？　　A subDAO is a novel solution to the operational challenge of delegating responsibility within a DAO while maintaining decentralization.　　The setup is similar to a startup starting to divide employees into different divisions as the company grows.　　SubDAOs have their own foundation and ownership structure but are mission-bound to the parent DAO.　　The goal of moving to a subDAO structure, according to David Gogel, head of growth and operations at dYdX, is to “drive progressive decentralization over the protocol.”　　An example of a subDAO following the Guernsey purpose trust model 　　dYdX is not unfamiliar with subDAOs.　　Its first subDAO, the dYdX grants program (DPG), was established in March through a Guernsey non-charitable purpose trust, with an eight-person multi-signature committee receiving $752,000 in DYDX tokens from the DAOs treasury to oversee grant distribution.　　Why is

2022-11-05Deep Dive

Musk's Halloween Tweet Causes a Rising trend in DOGE and SHIB

On Halloween, Musk posted a picture of a Shiba Inu dog sporting a Twitter t-shirt and a Twitter-branded pumpkin with the emoji “wink” as the text. 　　Shiba Inu and Dogecoin (DOGE), Elon Musks preferred cryptocurrency, both experienced dramatic price increases.　　Within minutes of his tweet, DOGE rose 14%. At the time of publication, the cryptocurrency had decreased to 12%.　　Although Shiba Inu didnt exhibit as strong of an upswing as DOGE, it still increased by almost 5% to reach a local high of $0.00001032. But as the initial excitement subsided, Shiba Inus upward trend gradually slowed; as of the time of publication, the pump was at 4%. The price was $0.00001287. 　　The two cryptocurrencies were already popular before to the tweet since Musk had previously made it known that DOGE would soon be integrated with the Twitter platform. 　　Musks most recent tweet was published after he successfully completed the $44 billion purchase of Twitter.　　For many years, Musk has been an outspoken advocate of DOGE. Additionally, he thinks DOGE is superior to bitcoin for making everyday crypto payments. 　　Market movers were always Musks tweets about cryptocurrencies.　　The price of DOGE earlier spiked in May when Musk tweeted that his space venture firm SpaceX would

2022-11-04Deep Dive

Employees at Bitmex will be laid off a week after the CEO departs.

“We are pivoting from our Beyond Derivatives strategy and will return much of our focus aiming at providing the crypto derivatives trading experience people will turn to,” as per Bitmex. 　　The corporation launched an effort into spot trading, brokerage, and custody services as part of its “beyond derivatives” strategy: “We are going to refocus on liquidity, latencies and a vibrant derivatives community, including BMEX Token trading.”　　Around 180 employees were recruited at Bitmex as of September.　　　　Bitmex later confirmed that the figure was smaller. Originally, it was stated that 30% of the workers had been laid off. The business hasnt disclosed a precise figure, though. After abandoning its bid to acquire the German bank Bankhaus von der Heydt, the firm earlier cut 75 workers. 　　The company is planning to concentrate on liquidity, latencies and a dynamic derivatives ecosystem incorporating BMEX Token trading, according to their statement.　　The companys primary concern, they continued, is to ensure that all workers who may be disrupted get the assistance they need. 　　Following its founding in 2014, Bitmex was the first cryptocurrency exchange to provide crypto derivatives.　　The termination came a week after Bitmexs CEO Alexander Höptner left the company after less than two years, at which point Chief

2022-11-04Deep Dive

Huobi wants to relocate its headquarters from Seychelles to the Caribbean.

According to the Financial Times, Justin Sun, the founder of the Tron ecosystem, has cited the “very friendly” crypto legislation, the English acceptance rate, and its standard legal systems as reasons why the area is a desirable location for the exchange to locate its new operations headquarters.　　After founder Leon Li opted to sell his stock in the company, About Capital Management last month purchased Huobi Exchange. There have been rumors at the moment that Justin Sun had purchased the exchange, but the crypto inventor and billionaire refuted this.　　　　It was then revealed that Sun had been designated as a special adviser to the Huobi Global board and has since had a significant influence on choices relating to the operational effectiveness of the trading platform. Although the specific Caribbean nation has not yet been determined, Panama, Dominica, and the Bahamas continue to be at the forefront of the list, according to Sun.　　As Grenadas official representative at the World Trade Organization, Justin Sun has been expanding his presence throughout the Caribbean during the past year (WTO). In a very positive development for the ecosystem, Sun claimed to have met with Dominicas prime minister Roosevelt Skerrit and that Huobi will assist the island nation

2022-11-03Deep Dive

CEO CZ of Binance reveals that the company may consider investing $1 billion in banks.

The billionaire said he was interested in minority investments or full takeovers but did not name any specific targets. Zhao also noted that Binances decision to pursue investment banking was a wise one since, when working with banks, Binance frequently draws a large number of new customers, which raises the banks perceived value.　　CZ stated during a discussion at the Lisbon Web Summit: 　　“There are people who hold certain types of local licenses, traditional banking, payment-service providers, even banks. Were looking at those things.”　　Zhao has previously stated that Binance seems to have more than $1 billion available for purchases, with its concentration on markets like DeFi and NFTs.　　　　He emphasized that traditional financial institutions and the cryptocurrency market in general are now much more closely related. Despite the harsh winter the cryptocurrency market has had as a result of several circumstances, such as interest rate rises, he claimed that the relationship among digital assets and traditional finance, or “TradFi,” is still growing. There are numerous well-known traditional financial services firms, such as Goldman Sachs Group Inc. and BlackRock Inc.　　According to two persons with knowledge of the situation, Goldman Sachs Group Inc., a major American investment bank, expressed interest in buying ailing cryptocurrency

2022-11-03Deep Dive

Singapore wants to be a hub for blockchain in finance, just not speculative crypto trading

Singapore still wants to be a hub for digital assets, but not for cryptocurrency speculation, according to Ravi Menon, managing director of Singapores central bank, the Monetary Authority of Singapore.　　“If a crypto hub is about experimenting with programmable money, applying digital assets for use cases, or tokenizing financial assets to increase efficiency and reduce risk in financial transactions, yes, we want to be a crypto hub,” Menon said on Thursday during his opening address to the Singapore Fintech Festival 2022.　　The process of tokenizing a financial asset entails transforming its ownership rights into digital tokens.　　DBS Bank is putting Singapores first digital money live pilot for government vouchers to the test, allowing businesses to program and self-execute distribution and usage.　　“However, if it is about trading and speculating in cryptocurrencies, that is not the type of crypto center we want to be,” Menon said.　　Singapore aspires to be a worldwide crypto hub, but the government has been cracking down on the business after many retail investors lost their life savings to crypto trading. Due to its volatile and speculative nature, the city-state has frequently warned that cryptocurrency trading is “extremely dangerous and not fit for the general public.” It even outlawed crypto advertising in

2022-11-03Deep Dive

Shiba Inu on Course to Follow Dogecoin Rally Despite Musk's Twitter Purchasing

Data from Santiment suggests that Shiba Inu is starting to gain traction after demonstrating strength in its Bitcoin pair (SHIB/BTC).　　“Whatever side of the fence you are on with meme coins like DOGE and SHIBA, there is no denying that they have had their pump moments. Shiba Inu has historically followed Dogecoin pumps. Watch trading volume on our chart,” tweeted by Santiment.　　With a rise of 50.34% over the previous day, Dogecoin is currently the highest gainer among the major coins. Additionally, over the last week, Dogecoins value increased by 131.23%. The issue was covered by Blockchain.News on Sunday. 　　Shiba Inus are also functioning reasonably effectively at this time. Shiba Inus price, which at the time of publication was $0.000012 USD, had increased 17% in the previous day, making it, after Dogecoin, the coin with the second-fastest rate of growth among the top 20 cryptocurrencies. Shiba Inus pricing performance over the previous week has been outstanding, rising by 24%. With a live market cap of $6,526,276,821 USD, CoinMarketCap now ranks 13th.　　The two meme coins had the biggest increases, in part because of Elon Musks most current efforts regarding the Twitter purchase and in part because of market momentum. As of Thursday, the

2022-11-02Deep Dive

Cardano is surpassed by Dogecoin as it moves up to eighth place among cryptocurrencies.

In the last seven days, the cost of Doge has increased by 131.23%. With a 24-hour trading activity of $15,024,853,397 USD, the Dogecoin price was $0.1344, up 50.34% in the previous day as of the time of publication. 　　Doge is presently positioned #8 with a live market valuation of $17,968,371,819 USD, ahead of Cardano, who is now in ninth place, and Solana, who is presently in tenth place, both with $14.4 billion and $11.9 billion.　　　　The meme currency increased on Monday after speculations that Tesla Motors CEO Elon Musk was planning to purchase Twitters social media network surfaced. Doges bullishness persisted over the course of the week, supported by two essential elements. 　　With the currency selling at $0.072, the price of Dogecoin increased by 14.52% on Wednesday, bringing the 24-hour increase to 21.22%. This week, DOGE has risen as a result of the cryptocurrency market cap growing and surpassing $1 trillion.　　Aside from that, Elon Musks efforts to finalize the Twitter takeover agreement greatly aided Doges rise. On Wednesday, the billionaire showed up at the Twitter headquarters, and on Friday, October 28, the sale was finalized, ending the six-month saga. The problem was discovered by Blockchain.News.　　Due to the possible influence of its

2022-11-02Deep Dive

Is Bitcoin Getting Ready to Leave the Current Bottom?

During intraday trade, Bitcoin increased by 6.6% over the previous seven days to reach $20,626, according to CoinMarketCap. 　　Bitcoin is currently closing in on the lower bound of the achieved price, which is currently set at $21,111. The realized price is the actual acquisition price per coin. It would indicate remarkable strength if it broke above it.　　There is still wealth redistribution. 　　The transfer of coin wealth typically occurs during the Bottom Discovery phase as a result of declining investment profitability forcing weak hands to capitulate under intense financial pressure. 　　　　The existing bear market may still necessitate more consolidation and duration, according to Glassnode, who used the UTXO Realized Price Distribution (URPD) indicator. This is due to fewer coins going to the government than during the 2018–2019 bottom discovery phase, when 22.7% of the available quantity was divided up. 　　The market insight provider noted:　　“Performing the same analysis in 2022, we can see that around 14.0% of supply has been redistributed since the price fell below the Realized Price in July, with a total of 20.1% of supply now having been acquired in this price range.”　　Although Bitcoin is about to leave below bottom, the bear-to-bull shift has not fully developed because there

2022-11-01Deep Dive

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