Crypto Guides, Knowledge & Insights

What you need to know about Binance Coin’s road to $1000

The demand for Binance coin has surged considerably in the past 4 weeks and this has resulted in delays across the entire network. It has caused a challenge for retail traders, however, despite working at full capacity, the transactions are nearly smooth for BNB. BNB has come a long way in the past 6 months and the current price action looks like a wave before a final, mega, blow-off top where traders anticipate that the price may be pushed beyond $1000.　　Source: Lunarcrush　　The above chart shows that the social volume is increasing, again, since the price has a high correlation with the social volume. The price is currently above the $684 level and a month or so before BNB breaks its ATH, there may be a rapid advance in the price rally.　　BNB is currently, unarguably the dominant altcoin across exchanges following Dogecoin. In terms of demand across exchanges, social volume, BNB is number two on derivatives exchanges. This is based on data from Coingecko. HODLing BNB is ideal for traders in the short term since the altcoin hit a new ATH over the weekend.　　Source: Messari　　Based on the above chart, in the short-term (30-days), the ROI is nearly 50%. ROI is higher

2021-05-11Deep Dive

Binance Lists SHIB, Will It Become The Next DOGE?

With a 146.3% rally in the daily chart and high volatility across the board, Shiba Inu (SHIB) has been listed in Binance, Huobi, and FTX. Almost immediately after the announcement, Dogecoin (DOGE) “evil” version saw new all-time highs and has been moving to lower lows and higher highs, as the news of its listing spread.　　SHIB operates under the standard ERC-20 with around 1.000.000.000.000.000 coins in its total supply. However, data from CoinGecko indicates that Shiba Inus actual supply is unknown. Previously, it was available on decentralized exchange Uniswap.　　According to the official listing announcement by Binance, SHIB and DOGE have similarities, they are both considered “meme” coins and apparently have strong support from their respective communities.　　Unlike DOGE, Shiba Inu is ShibaSwap‘s native token and will be part of the incentives users will receive to trade on this decentralized exchange. Binance claims that Shiba Inu’s total supply is already in full circulation.　　The exchange clarified that around 60% of its supply is held by the top 5 wallets. Therefore, it has a highly centralized supply, like DOGE.　　SHIB, The “Dogecoin Killer”？　　According to its official website, Shiba Inu is a “spontaneous” community project with the potential to be a “Dogecoin Killer”. The Shiba Inu ecosystem

2021-05-11Deep Dive

Swiss bank UBS ponders offering Bitcoin investments to wealthy clients

Major Swiss investment banking company UBS is currently in the “early stages of planning” to offer its rich clients some options to invest in cryptocurrencies, knowledgeable sources told Bloomberg today.　　At the moment, it is unclear what crypto investment instruments UBS is exploring as the firm eyes several alternatives, sources told the outlet. However, they added that it has already been decided that any potential crypto-related services will be only offered to very rich clients.　　Thanks to this, any investment offering that UBS could roll out will amount to only a fraction of its clients wealth. In no small part this is dictated by the risks and high volatility usually associated with cryptocurrencies, sources explained. Additionally, UBS is also exploring the possibility of offering its clients an option to invest in digital assets via third-party investment vehicles.　　“We are monitoring the developments in the field of digital assets closely. Importantly, we are most interested in the technology which underpins digital assets, namely the distributed ledger technology,” UBS said in a statement earlier.　　More institutions adopt crypto　　As CryptoSlate reported, John Dalby, who worked at UBS for over two decades (most recently as the chief financial officer of UBS Americas), recently went to work full-time on

2021-05-11Deep Dive

Paul Krugman Continues to Dismiss Crypto as "Techno Babble"

Prominent economist Paul Krugman is not budging on his cryptocurrency skepticism.　　During his recent CNN interview, American economist Paul Krugman made it clear that he still wasnt a fan of crypto in spite of the massive rally.　　The Nobel laureate called the new asset class “a combination of libertarian derp and techno babble.”　　Krugman emerged as one of Bitcoins harshest critics as early as 2011 with New York Times op-ed called “Golden Cyberfetters.”　　As reported by U.Today, Krugman claimed that Bitcoin never fulfilled its promise of being money during his December interview. Krugman also recently told Business Insider that the supporters of Modern Monetary Theory and crypto are the hardest groups of people to talk to:　　“The two groups of people that are not all that political who I find the hardest to talk to are supporters of MMT and cryptocurrency.”

2021-05-11Deep Dive

Google search interest in Dogecoin outstrips Bitcoin for first time

Global public interest in Dogecoin (DOGE), as measured by internet search statistics, has exceeded that of Bitcoin (BTC) for the first time. According to data from Google Trends, values assigned to each cryptocurrency for May 2–8 stand at 56/100 points for DOGE versus 48/100 for BTC.　　As the chart below shows, search interest in DOGE over the past 12 months has often closely correlated with peaks and troughs in public interest in Bitcoin, although the interest in the two coins has previously diverged. This week, however, shows not only a strong non-correlation but a higher level of interest in DOGE in absolute terms.　　Google Trends search data comparison between DOGE (red) and BTC (blue) over the past 12 months　　As previously reported, DOGE has had nothing if not a dramatic 2021. In mid-April, the coin gained 80% in value in just one day to cap 5,000% in year-to-date returns. As a quintessential meme cryptocurrency, much of the assets dizzying price hikes have been fueled by social media sentiment and, arguably, its frequent, if jocular, endorsement by Tesla CEO Elon Musk.　　Yet as noted already in April, high levels of public interest in the asset arent necessarily indicative of its good fortune on the markets.

2021-05-10Deep Dive

Here’s what has contributed to institutions taking Bitcoin, Ethereum, and other cryptos

Over the past year, Grayscale has become synonymous of sorts with Bitcoin and cryptocurrencies, at least from a mainstream, institutional investor perspective. In fact, the numbers tell the same story as well, with the assets under management growing from just under $2 billion at the beginning of 2020 to over $50 billion, at press time.　　That is a steep rate of growth, especially for the institutional side of the market. However, which entities exactly have been parties to the aforementioned surge？ Well, according to Phil Bonello, Director of Research at Grayscale Investments, most of the institutional interest coming its way is being “dominated by hedge funds and family offices.” While the exec did comment on growing enthusiasm among pensions and endowments, Bonello was quick to underline their nature as “slow-moving institutions.”　　A similar point was made by crypto-investment firm Copper‘s Asen Kostadinov recently, with the official going on to speculate that Coinbase’s IPO is only going to spur more institutional interest from these very actors.　　What have been the reasons behind the said growth, however？ Bonello, during a recent appearance on Thinking Crypto, commented that what has happened over the past few months is that the narrative of monetary inflation has gathered steam.

2021-05-10Deep Dive

Crypto Long & Short: Why Bitcoin’s Taproot Upgrade Matters

The most important impact for the investing market overall: Its a reminder that Bitcoin is a technology. Plus: Whats next for dogecoin？　　You might have noticed some green squares floating around Twitter. Like the laser eyes, they are part of the insider signaling that creates a sense of cause and belonging. Unlike the laser eyes, they are not directly about the price – they signal support for the proposed Taproot upgrade for the Bitcoin network.　　Why is this important？ Its not just the benefits the upgrade brings, which are significant. Taproot is important because it reminds us of what Bitcoin is.　　The good stuff　　Before we dive into why this matters, lets look at some of the main benefits of the proposed upgrade:　　1.Increased privacy. This does not refer to Bitcoin addresses or enhanced anonymity; it refers to types of transactions. Taproot will make complex transactions, such as those requiring multiple signatures or those with delayed release, indistinguishable from simple transactions in terms of on-chain footprint.　　2.Lower fees. The data size of complex Bitcoin transactions will be reduced, which will lead to lower transaction costs.　　3.More flexibility. A new type of signature will enhance smart contract functionality in Bitcoin, making it easier and cheaper for users to

2021-05-10Deep Dive

Literally to the moon — SpaceX payload funded by DOGE plans to reach lunar orbit in 2022

“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce,” said SpaceXs Tom Ochinero.　　Canada-based manufacturing and logistics firm Geometric Energy Corporation will be launching a Dogecoin-funded payload on one of SpaceXs first rockets to the moon.　　In a Sunday announcement from Geometric Energy Corporation, the company said its commercial satellite could be traveling to the moon as early as the first quarter of 2022 aboard the SpaceX Falcon 9 launch vehicle. Weighing 40 kilograms — roughly 88 pounds — the payload is designed to “obtain lunar-spatial intelligence from sensors and cameras on-board with integrated communications and computational systems.”　　“Having officially transacted with DOGE for a deal of this magnitude, Geometric Energy Corporation and SpaceX have solidified DOGE as a unit of account for lunar business in the space sector,” said Geometric Energy CEO Samuel Reid.　　Tom Ochinero, VP of Commercial Sales for SpaceX, added:　　“This mission will demonstrate the application of cryptocurrency beyond Earth orbit and set the foundation for interplanetary commerce.”　　Neither SpaceX nor Geometric Energy specified how Dogecoin (DOGE) was used to fund the endeavor. The cost may refer in part to the development of the payload or include the funding to send it to

2021-05-10Deep Dive

Our Future with High Public Debt

Many countries are experiencing a combination of high public debt and low-interest rates. This was already the case in advanced economies even prior to the pandemic but has become even starker in its aftermath. A growing number of emerging market and developing economies are likewise enjoying a period of negative real rates—the interest rate minus inflation—on government debt. The IMF has called on countries to spend as much as they can to protect the vulnerable and limit long-lasting damage to economies, stressing the need for spending to be well-targeted. This is especially critical in emerging market and developing economies, which face tighter constraints and associated fiscal risks, where greater prioritization of spending is of the essence.　　But what should eventually be done about the high levels of public debt in the aftermath of this crisis？ In an earlier paper we showed that, provided fiscal space remains ample, countries should not run larger budget surpluses to bring down the debt, but should instead allow growth to bring down debt-to-GDP ratios organically. More recently, the IMF has stressed the need to rethink fiscal anchors—rules and frameworks—to take account of historically low interest rates. Some have suggested that borrowing costs—even if they move up—will

2021-05-10Deep Dive

South Korea to Crack Down on Phishing Websites Attacking Crypto Users

South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year.　　Seoul Strengthens Monitoring of Crypto Phishing Scams　　Rising market prices have led to an increased number of phishing attempts targeting investors and users of cryptocurrency in South Korea. The government in Seoul announced its strengthening its monitoring system to quickly detect such threats. It will also work closely with the Korean National Police Agency (KNPA) to prevent fraud.　　The Korean Ministry of Science and Information and Communications Technology said its receiving an increasing number of reports of phishing attempts. Attacks are often conducted via text messages convincing crypto traders to enter their exchange usernames and passwords on fake websites. The perpetrators can then access their accounts and steal their holdings.　　The department has found and blocked 32 phishing websites only in the past three months, Yonhap News Agency reported. That compares to a total of 41 sites identified during the whole 2020. Fake web pages often have domain names that look similar to those of real platforms. One of them

2021-05-10Deep Dive

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