Crypto Guides, Knowledge & Insights

GrowthDefi Offers The Best Yields On Wheat Token

GrowthDeFi is a decentralized ecosystem that focuses on capital efficiency and maximizing returns through a variety of products. The GrowthDefi ecosystem comprises efficient blockchain technologies to optimize token holder value and maintain the best yields and products in the market.　　One of the outstanding features is the deflationary mechanism, meaning the value of the token can increase over the long term regardless of macroeconomic conditions. All the tokens on the ecosystem are underpinned by this deflationary aspect. For clarity, tokens are a type of cryptocurrency that can be an asset or hold a specific value. They can be used for trade or investment purposes.　　GrowthDefi employs decentralized finance methods and blockchain technology to introduce a comprehensive yield farming offering.　　GRO, WHEAT, and gROOT are the three tokens available in the GrowthDefi ecosystem. The GRO token is the core as it has governance rights over everything and it gets a percentage from the revenue of anything that is built. GRO can be staked for more GRO (stkGRO) or for BNB (GRO Yield).　　The gROOT token is a diversified way to invest in more products such as strategy tokens, gROOT can be staked in gROOT harvest for BNB.　　 Deflationary mechanisms　　The WHEAT token incentivizes the products on

2021-06-15Deep Dive

Solanax: Redefining the DeFi Sector

The DeFi sector has undergone somewhat of a boom over the last years. The advancement in blockchain technology and a global distrust of the traditional banking system, has meant that the Decentralized Finance sector, according to Statista, had more than 80 billion USD of crypto locked in during May 2021, a sizeable leap from the 15 billion USD locked in as of December 2020, just six months ago.　　It is no coincidence that as crypto boomed so has DeFi. More and more people, financial institutions and even Governments have joined the DeFi evolution, with El Salvador most recently becoming the first country to adopt Bitcoin as legal tender.　　The booming DeFi continues to see innovations and new projects which make transactions faster, cheaper and more accessible. One such project is Solanax.　　Solanax is an exciting new decentralized blockchain-based automated market maker (AMM) built upon the innovative Solana protocol. Its vision is to take DeFi to new levels by providing the fastest, cheapest decentralized exchange without the need for any third-party involvement, ensuring users in the Solanax ecosystem can trade without censorship or risk losing ownership of their assets.　　The Solana Effect　　Solanax manages to provide the solution to existing issues surrounding DeFi. Everybody knows that

2021-06-15Deep Dive

The Bitcoin Water Trust Announces New Charity Model ‘HODL MODL’

The charity will take donations in Bitcoin, hold them until 2025 and use the earnings to bring drinking water to those that do not have it.　　The Bitcoin Water Trust is a newly formed trust from Charity: Water and is aimed directly at bringing drinkable water to places that have no access to it currently. The trust was established last week by the charity at the Bitcoin 2021 Conference.　　Now, the trust is looking to add some trendy terms to their project in the hopes of gaining more interest. The new charity model, HODL MODL, uses the popular acronym HODL or “hold on for dear life,” which has been a popular mantra for many crypto investors.　　That pretty much sums up the charitys plan for their BTC donations, as they plan to leave it untouched until 2025. The idea is that giving today will yield a more significant impact in a few years if invested in bitcoin.　　Charity: water will utilize Geminis cryptocurrency wallet to accept donations of bitcoin along with holding said donations until the agreed-upon time. Additionally, co-founders Cameron and Tyler Winklevoss have pledged to match the first 50 BTC donated to The Bitcoin Water Trust.　　The pair, along with the project they

2021-06-15Deep Dive

MicroStrategy May Sell $1 Billion in Stock to Buy More Bitcoin

MicroStrategy may be gearing up to buy more Bitcoin—as much as $1 billion worth.　　The cloud software company today filed paperwork with the Securities and Exchange Commission (SEC) for a proposed public sale of class A common stock via an Open Market Sale Agreement. This type of open-ended agreement allows the firm to sell stock “from time to time” depending on its needs.　　“We intend to use the net proceeds from the sale of any class A common stock offered under this prospectus for general corporate purposes, including the acquisition of bitcoin,” the firm wrote in the filing.　　Though MicroStrategy doesnt definitively say it will use the proceeds to purchase Bitcoin, thats been the firms modus operandi since CEO Michael Saylor caught the BTC bug last year. The firm owns 92,079 BTC ($3.7 billion), which accounts for the majority of its treasury. It sold $500 million in corporate debt last week so it could add to that total.　　The risky strategy has caught the firm some flak—and the “forward-looking statements” section of the SEC filing show its well aware of that.　　“The concentration of our bitcoin holdings enhances the risks inherent in our bitcoin acquisition strategy,” it writes, adding: “Servicing our debt will require a

2021-06-15Deep Dive

Hedge Funds Expect to Hold $312 Billion in Crypto by 2026

Hedge funds expect to hold 7 percent of their assets in cryptocurrencies by 2026, according to a Financial Times report that cites a recent survey of chief financial officers conducted by Intertrust. Based on the forecasts, this could translate into roughly $312 billion worth of crypto.　　North American CFOs have a stronger-than-average appetite for the novel asset class, expecting it to reach a 10.6 percent share of total holdings.　　Their European counterparts are more conservative, settling with an average exposure of 6.8 percent.　　As reported by U.Today, Paul Tudor Jones, one of the most successful hedge fund managers on Wall Street, said that he wanted a 5 percent Bitcoin allocation on June 14.　　Stanley Druckenmiller, another prominent investor, also touted Bitcoin in a recent interview while predicting that a new cryptocurrency could overtake Ethereum.

2021-06-15Deep Dive

“Bukele Effect”: Denmark To Revise Crypto Tax Law

Cryptocurrencies are costing governments a huge chunk of revenue as users capitalize on their decentralized nature to avoid taxation.　　 Denmarks Tax Ministry is looking to curb the situation by revamping its old tax laws to include cryptocurrencies.　　 Toothless legislation？ Users may attempt to dodge the legislation by using privacy coins like Monero and ZCash.　　 In other developments, the governor of Denmarks Central Bank has stated that cryptocurrencies are not a threat to the bank.　　The cryptic nature of cryptocurrencies has made it very possible for users to obscure their finances and falsify tax returns. The government has lost out on potential revenue streams due to the rise of crypto and its outdated tax laws that do not account for a technology such as cryptocurrencies to be covered by pre-existing tax brackets. Denmark has followed the lead of the United States and Australia by vowing to update its tax laws to include cryptocurrencies.　　The Australian Tax Office announced that it has the capacity to monitor crypto exchanges and calculate the correct amount of tax that a given user is required to remit, as it aims to catch its 600,000 active crypto traders in the tax net. The Danish tax body will revamp

2021-06-15Deep Dive

Apabila Bitcoin mencapai $40,000 lagi, penganalisis mengagak $50,000

Selepas hujung minggu yang tidak menentu, Bitcoin sekali lagi melepasi $40,000, mencapai tahap tertinggi dalam lebih dari dua minggu. Kripto terbesar di dunia memperoleh sebanyak 4.5% pada hari Isnin kepada $41,020, memperpanjang kenaikannya pada hari kedua. BTC telah meningkat sekitar 9% sejak hari Jumaat. Indeks WikiBit yang lebih luas, yang menjejaki beberapa cryptocurrency utama, juga maju, menambah sebanyak 7,7% pada satu ketika.　　Dengan Bitcoin melepasi ambang $40,000, banyak penganalisa chart melihat $42,500 sebagai tahap penting seterusnya untuk dilanggar. Angka tersebut secara kasar mewakili purata bergerak 200-hari dan memuncaknya itu bermakna duit syiling naik ke arah $50,000.　　“Bitcoin akan sentiasa berubah-ubah dan jangkaan manik yang kita miliki tidak pernah berkekalan. Persoalannya ialah di mana kita menyelesaikannya？ Apa support terbaru dalam Bitcoin ？, ”kata Tom Essaye, bekas peniaga Merrill Lynch yang mengasaskan buletin“ The Sevens Report ”. “Agar Bitcoin dapat meneruskan pergerakan itu, saya rasa anda perlu melihat penerapan sah yang lebih meluas.”　　Cryptocurrency berada di bawah tekanan dalam beberapa minggu kebelakangan ini, dengan Bitcoin kehilangan sekitar 30% sejak pertengahan April, ketika mencecah rekod hampir $ 65,000. Jual beli baru-baru ini telah diperburuk oleh teguran awam dari Tesla Inc. Elon Musk, yang mengkritik jumlah tenaga yang digunakan oleh pelayan yang menyokong token dan menolak tawaran

2021-06-15Deep Dive

Allianz Chief Economic Advisor Says Elon Musk has a Huge Influence on Bitcoin Adoption

IN BRIEF　　Allianzs chief economic advisor says there is a tug of war going on between Bitcoin regulations and adoption.　　He also said the impact of Elon Musk on the adoption side of the market is significant.　　Mohamed A. El-Erian, the chief economic advisor for Allianz, an asset management and insurance firm recently appeared on CNBC‘s Squawk Box, where he talked about Fed’s recent meeting, Bitcoin and Elon Musk. The chief economic advisor said Bitcoin is currently in a tug-of-war between regulation and adoption. He said Elon Musk, the Tesla CEO has a huge impact on the adoption side.　　El-Erian pointed towards today‘s Bitcoin price gain of over 10% post Musk’s Tweet about the top cryptocurrency.　　Musk while responding to an allegation of pumping and dumping the Bitcoin market reinstated that Tesla has only sold 10% of its $1.5 billion purchase and willing to reconsider Bitcoin payment for the car purchase if Bitcoin mining becomes greener.　　El Erian said,　　“Musk has a huge impact on the adoption side, first he said Tesla would accept Bitcoin as a payment implying it is a ”currency,“ then said he is not sure and today he again hinted at using it as a form of payment.”　　Musk has quite a love-hate

2021-06-15Deep Dive

Crypto is the next step toward a cashless society

It will take some time for consumers to warm up to crypto, but education is the key to its mass adoption.　　From QR code payments to mobile banking apps, consumers worldwide are increasingly reliant on digital payment solutions, especially as mobile technology becomes more ubiquitous. Government-led efforts in driving cashless economies have been a key factor, with countries such as Singapore or the Philippines seeing their central banks driving the adoption of contactless payments during the height of the COVID-19 pandemic. As a result, usage rates for digital payments platforms have recorded promising growth, even as high as 5,000% in the Philippines alone.　　This unprecedented rise in cashless payments is also paving the way for the broader adoption of crypto, with the number of crypto users worldwide hitting around 106 million in January. While this marks an impressive 15% month-on-month growth, it is still just a drop in the ocean when compared to the 4.7 billion people who have access to the internet.　　But as crypto continues to command headlines, what will it take for mass adoption to happen？　　A new model of financial accessibility　　Today, billions of people worldwide are unable to access even the most basic financial services via traditional means, and thus

2021-06-15Deep Dive

Kenapa Anda Perlu Beli Binance Coin Dari Sekarang!

Harga semasa Binance Coin adalah $339.12 dan ia mencapai tahap tertinggi sepanjang masa pada $606 pada 21 April 2021. Dengan had pasaran $51,940,319,129, Binance Coin adalah cryptocurrency terbesar keempat di dunia.　　Sebab mengapa Binance Coin meningkat adalah disebabkan oleh Binance Smart Chain (BSC), rantai selari untuk dApps dan DeFi Services. Menurut sebuah laporan, yuran transaksi Ethereum Tinggi sering disebut sebagai alasan utama mengapa penggunaan BSC meningkat begitu banyak. Sebab lain ialah peningkatan aktiviti perdagangan Binance Coin. Juga, penggunaan Binance Exchange yang tinggi akan meningkatkan permintaan untuk BNB dan meningkatkan harganya.　　Binance Coin mempunyai potensi besar dan sangat tinggi dengan kekuatan Binance Smart Chain. Kenaikan harga menunjukkan potensinya sejak pelancaran, dan kemungkinan DeFi menggantikan kewangan tradisional akan lebih menguntungkannya.　　Semua faktor di atas menjadikan Binance Coin sebagai peluang pelaburan yang hebat di antara cryptocurrency lain. “Tetapi beberapa masalah perlu ditangani juga. Yang terbesar adalah bahawa pasaran DeFi sebenarnya boleh memakan Binance Exchange. Binance sedang berusaha untuk memegang peranan utamanya dalam pasaran aset digital kerana projek DeFi yang dimulakan seperti Uniswap, Curve, Balancer dan SushiSwap menarik bahagian perdagangan industri yang lebih besar ”, menurut Muyao Shen dari CoinDesk.

2021-06-15Deep Dive

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