Crypto Guides, Knowledge & Insights

BitPay wallet integrates 1inch Network DEX aggregator

1inch Network, a major decentralized exchange (DEX) aggregator and automated market maker, is broadening its reach by partnering with veteran crypto wallet provider BitPay. 　　The two companies announced that 1inchs DEX aggregation functionality is available for all users of the BitPay wallet — an app that allows individuals to manage, convert and spend 12 different cryptocurrencies through integrations with ATMs, Apple Pay, Google Pay and Mastercard. 　　The 1inch Network partnership enables BitPay wallet users to use the DEX aggregator directly. 1inch Network announced wider integrations with different decentralized finance (DeFi) protocols and DEXs this year to strengthen its liquidity pools for its users. 　　The network uses an algorithm called Pathfinder to search over 60 different liquidity sources on Ethereum, over 30 on Binance Smart Chain and over 20 on Polygon and Optimistic Ethereum. Over the past two years, the DEX aggregator has exceeded $65 billion in total volume on the Ethereum network, according to Tuesdays announcement. In the winter of 2020, it secured funding from the likes of Pantera Capital and multiple crypto venture funds.　　1inch Network co-founder Sergej Kunz stated that the partnership with the BitPay wallet app provides an opportunity for the DEX aggregator to reach out to new

2021-08-31Deep Dive

Cryptocurrency Prices Today on August 31: Cardano plunges nearly 5%

Cryptocurrency prices continue to be in the red on August 31. The global cryptocurrency market cap is $1.98 trillion, a 5.19 percent decrease over the last day, while the total crypto market volume over the last 24 hours is $103.08 billion, which makes a 14.10 percent increase.　　The volume of all stable coins is now $77.53 billion – 75.22 percent of the total crypto market 24-hour volume. Bitcoins price is currently $46,808.39 and its dominance is currently 44.46 percent, an increase of 0.78 percent over the day.

2021-08-31Deep Dive

Morgan Stanley: One of the Biggest US Bank buys a quarter Billion GBTC.

Morgan Stanley: One of the wealthiest US Banking giant has purchased a total of $253.17 million Grayscale Bitcoin (GBTC) shares which is just a quarterly division of a billion dollar worth of purchase. This US banking giant which has been the first bank equally reported previously last few months to commence offering its private investors access to Bitcoin funds made the purchase of this huge amount of GBTC with four different funds within its control.　　The Crypto market capital has further seen a great upliftment over the weekend with Morgan Stanley one of the wealthiest US Bank moving to buy over $250 million worth of Grayscale Bitcoin (GBTC) shares.　　This giant back has stood out among others in promoting Crypto trading, recall that early this year this same Bank has been reported as the first big U.S. bank to offer its wealthy investors access to bitcoin funds.　　The details of this purchase following the filings from the U.S. Securities and Exchange Commission (SEC) shows that this giant banking institution worth over $4trillion from the investment entrusted to it by investors had proceeded to invest in GBTC through four different funds in the orders below:　　The investment banks Insight Fund – which has over $10

2021-08-31Deep Dive

Bitcoin Price Today Drops Near $47,000 but Ether is Up. Know Top Cryptocurrency Rates

Bitcoin prices further fell to $47,055, down 2.82 per cent. Ether was trading at $3218.52, up 0.83 per cent. Within last two weeks, the bitcoin touched over $50,000 and came down to $47,000. Some positive developments led to a sharp rally in bitcoin prices, however comments made by renowned people about the Bitcoin or cryptocurrency at large is pulling down the prices of it. And in latest twist and turns, billionaire hedge fund manager, John Paulson said that there is no intrinsic value attached with cryptocurrencies except for a “limited amount.” He said that the entire segment is “too volatile” and that Bitcoin went from US$5,000 to US$45,000 within a short period. “Cryptocurrencies, regardless of where they‘re trading today, will eventually prove to be worthless. Once the exuberance wears off, or liquidity dries up, they will go to zero. I wouldn’t recommend anyone invest in cryptocurrencies,” Paulson said. However, yesterday Raghuram Rajan, former RBI governor,said, “Crypto currencies, which are yet to gain the status of legal tender in most parts of the world, have a ”potential future if they are well regulated.　　Cardano, another cryptocurrency was down by 1.49 per cent at $2.80.The market cap of cardano stands at $89 billion.

2021-08-31Deep Dive

What do IMF’s concerns about Bitcoin being an ‘inadvisable shortcut’ actually reveal

The growing popularity of Bitcoin has resulted in many countries adopting the digital asset and the International Monetary Fund [IMF] has not been happy with it. The Washington DC based organization once again expressed concerns about Bitcoin and other cryptos becoming national currencies.　　Its latest tweet noted,“Privately issued crypto-assets like Bitcoin come with substantial risks. Making them equivalent to a national currency is an inadvisable shortcut.”　　The IMF was more concerned about the countries adopting Bitcoin and recognizing it as their national currency, like El Salvador. Earlier when the country had first announced its plans to making Bitcoin legal tender, the IMF had mentioned that the use of crypto would threaten “macroeconomic stability” and also potentially harm financial integrity, through use in illicit activities.　　However, the countries that were embracing crypto barely cared for IMF‘s opinion. Other countries like Honduras installed their first crypto ATM this week. Meanwhile, Cuba became another country to recognize and regulate cryptocurrencies such as Bitcoin. As it moves forward in recognizing crypto, Cuba may reportedly be able to bypass the United States embargo, which prohibits the island’s international commerce and remittances.　　The post attached to the IMF tweet also mentioned,“Some countries may be tempted by a shortcut: adopting crypto

2021-08-31Deep Dive

IS A BITCOIN PRICE "DOUBLE BUBBLE" IMMINENT?

With the price of bitcoin hovering near $50,000, momentum has returned to the market and strong hands have accumulated more bitcoin than ever. A 2013-style double bubble is in the cards.　　The 2013 cycle saw the price of bitcoin draw down 75% from the highs before rallying a staggering 1,750% in less than six months. We arent suggesting that the rally will occur again with the same performance, but rather an explosive “double bubble” within the traditional four-year boom-and-bust cycle.　　The market has gone through quite a similar cycle compared to 2013 as well, with an initial parabolic run up, a large amount of coins becoming liquid before an aggressive reaccumulation and parabolic run up.　　Bitcoin: Illiquid Supply Change 2013　　If bitcoin continues to transfer to strong hands at the current pace, a parabolic run-up will commence that most in the world cannot fathom. Bitcoin, at nearly a $1 trillion asset today, can elevate to a $5 trillion asset in 2022 with relative ease.　　After all, $1 of capital that flows into bitcoin adds far more than just $1 of market cap to the asset, and during a bull market when most market participants are holding, the market value to realized value of bitcoin explodes

2021-08-31Deep Dive

Non-Fungible Tokens Vs Semi-Fungible Tokens: What’s the Difference?

NFTs are digital certificates of authenticity associated with any digital piece of data.　　SFTs combine the features of fungible and non-fungible tokens and improve the biggest weaknesses of them both.　　Non-fungible tokens (NFTs) conquered the world like a storm. The hype surrounding NFTs is enormous, the prices keep breaking new records and they are dominating the headlines each day.　　Away from the spotlight, another tokenized asset class is emerging: semi fungible tokens (SFT). Much more flexible than fungible and non-fungible tokens, SFTs are here to merge the two worlds into one, solve insufficiencies and open new possibilities.　　The problem is – SFTs are much less known. Meet both of them in this article and quickly learn why and how they are different.　　 What are Non-Fungible Tokens (NFTs)？　　NFTs are digital certificates of authenticity associated with any digital piece of data. This could be anything digital: image, video, audio etc.　　The key word here is ‘non-fungible’, meaning that each NFT cannot be exchanged into any other NFT without a change in its value. For example, each movie ticket is unique, especially in terms of seats and rows; if you want to exchange it for another ticket, the seats will differ.　　Contrary to cryptocurrencies, NFTs cant be divided into

2021-08-31Deep Dive

Three Arrows Capital execs launch NFT fund

Executives hailing from Singapore-based fund manager, Three Arrows Capital (3AC), have launched a fund focused on collecting premium digital art in the form of nonfungible tokens (NFTs).　　The fund, dubbed Starry Night Capital, was founded by Three Arrows Capitals CEO, Su Zhu, 3AC co-founder, Kyle Davies, and the pseudonymous NFT collector, Vincent Van Dough.　　Van Dough announced the fund via an Aug. 31 tweet, stating: “Our thesis is simple, we believe the best way to gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets.”　　Zhu shared the tweet, adding: “Excited to make history together.”　　3AC is a digital asset-focussed fund manager that was founded in 2012. The firm has made investments in leading layer-one blockchains including Ethereum, Avalanche, and Polkadot, in addition to building an expansive DeFi portfolio including blueships Aave, Synthetix, and Balancer.　　While details on the new funds roadmap are sparse at this stage, Van Dough revealed that Starry Night Capital hopes to launch a physical gallery “in a major city,” launch an NFT education portal, and explore other community-building initiatives by the end of the year. He added:“The NFT space is not a zero-sum game, it is driven by

2021-08-31Deep Dive

Cryptos Consume more Energy than Expected

On 8 January, the value of Bitcoin, the world’s leading cryptocurrency peaked at over $41,000 for the first time. It has since lost $10,000 in a characteristic swing of volatility. Over 2020, the price of bitcoin soared over 300%, with the price of many other cryptocurrencies also rising sharply. Ethereum, the second largest cryptocurrency grew by over 400% in 2020. The market capitalisation of Bitcoin amounts to over $700 billion.　　The rise has sparked interest from speculators and investors in search of quick profits in times of economic uncertainty. In October, PayPal enabled its customers to hold Bitcoin as well as other virtual currencies in their digital wallets as well as use it to pay merchants who accept Paypal transactions. However, Bank of England Governor Andrew Bailey cautioned over Bitcoin’s use as a payment method. “I have to be honest, it is hard to see that Bitcoin has what we tend to call intrinsic value,” he said. “It may have extrinsic value in the sense that people want it.”　　Regardless of how it is used, Bitcoin is consuming more and more energy. Without a centralised authority, the blockchain technology – the underlying technology on which Bitcoin is based – rests on a

2021-08-31Deep Dive

Pundit On Why Advancing ADA’s Regulatory Compliance May Have Been A Bad Move From Cardano

The Cardano Foundation – the non-profit that leads the development of the Cardano blockchain network – has taken a step towards better regulatory compliance by announcing the integration of Anti-Money Laundering analytics firm, Coinfirm, into the Cardano ecosystem.　　The firm confirmed the move in an announcement on Tuesday where it revealed that it would deploy its world-class advanced AML/CFT analytics that would ensure that Cardano can be in full compliance with the FATFs (Financial Action Task Force) guidelines, 6AMLD, and other supranational and national regulations.　　This move is likely to yield benefits for the blockchain in the form of increased confidence from government, institutions, as well as private users, that reasonable measures have been taken to reduce the risk of transactions being exposed to illicit or illegal behavior.　　Coinfirms head of marketing, Sachin Dutta highlights this saying:　　“Coinfirm is excited to integrate the Cardano protocol with our AML Platform to ensure that counterparties using the ADA cryptocurrency and other assets created on Cardano are not tainted by illicit funds. This provides a seamless transition for financial institutions to uptake the protocol with scale, reducing the concern of AML/CFT compliance.”　　However, the action has received a clap back from some members of the crypto-community who think

2021-08-31Deep Dive

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