MDEX, a well-known DEX on both HECO and BSC chain, announced its collaboration with Alpaca Finance, the largest lending protocol allowing leveraged yield farming on Binance Smart Chain recently, by which users from Alpaca Finance can benefit from farming liquidity pools with massive rewards on MDEX. The first rounds of pool integrations will take place on 30th September, 5th October and 7th October respectively.This is a win-win collaboration for MDEX and Alpaca Finance. MDEX is the second-largest decentralized trading app in terms of TVL with a total lock-up asset of $2.3 billion (24th Sep 2021) and occupied the first for a long time a few months ago. Alpaca Finance is the largest lending protocol that attracts assets with a total amount of $1.41 billion (24th Sep 2021). MDEX and Alpaca Finance are two stars that have significant market shares in their respective sectors in the Defi space where DEX and leveraged yield farming protocol are naturally combinable. Alpaca Finance will generate more liquidity incentives for users, while the TVL on MDEX will increase to result in a better liquidity performance as multiple pools are integrated with leverage, and the asset exchange involved in several pools will become smoother and more cost-effective for traders.In the announcement published by Alpaca Finance, it revealed the reasons for this collaboration which is MDEX is the second-largest DEX in terms of TVL and daily trading volume of hundreds of millions of dollars per day and the APR on MDEX are higher for most of the pools Alpaca Finance had added. As MDEX focuses on stablecoin asset pools, Alpaca Finance’s cooperation with MDEX will bring users higher annualized returns (APR). In particular, this integration will utilize the AUM of Alpaca Finance in all safe pools on MDEX and create larger buybacks, burns, and performance fees for…
Archives for September 2021
MyNeighborAlice Price Prediction
ALICE is a governance token and an in-game currency of My Neighbor Alice — one of the freshest NFT (and DeFi!) games around. My Neighbor Alice is being developed by Antler Interactive, planning to release the game on Steam in the spring of 2022. The pre-alpha version of the game is currently available to ALICE holders for playtesting.My Neighbor Alice (MNA) is part of the latest trend on the crypto market — NFT gaming. It’s a multiplayer builder game inspired by titles like Animal Crossing, which gained its popularity not only thanks to its gameplay mechanics but also its quaint graphic style.Like in Animal Crossing, MNA’s world consists of several islands where a player’s character, or avatar, can own land, build and improve on it, go through quests, buy a character some clothes and cosmetic items, etc. What makes MNA different, though, is that every item in the game is an NFT. They can be bought and sold on the in-game marketplace or outside of it, like any other NFT.NFT items in-game can be purchased with ALICE tokens. Those can also be used as governance tokens or for staking, which in MNA has some DeFi features. There’s yield farming and collateralizing NFTs, as well as NFT lending using ALICE. ALICE coins can be purchased on the open market or earn in-game.After starting strong — almost at $29 — during its launch in March 2021, My Neighbor Alice token price has quickly slumped quite a bit. Although the price went up above $19 briefly at one point in May, ALICE has spent a lot of time in the spring and summer of 2021 trading between ~$3.5 and ~$8.ALICE’s price started picking up steam again in mid-July 2021, together with the crypto market which was rallying at that moment. It touched $15…
Gnosis Price Prediction
Gnosis is a decentralized prediction platform utilizing GNO as one of its two tokens (the other being OWL). Gnosis was launched in 2017 and is based on Ethereum.Gnosis utilizes a principle defined by prominent market theorists like Hayek. It states that markets are, above all, very effective tools for spreading information: they base their existence on encouraging participants to acquire information and share it with others by making market decisions. This leads to the continuous adjustment of market entities’ value, which allows the public to form opinions on who’s the best and most useful.The Gnosis team’s opinion is that this principle could work well outside the “traditional” market areas. In particular, Gnosis’ focus is prediction markets, also known as information markets. Instead of buying a stake in, say, a company, a prediction market participant can buy “a stake” equal to the probability of a particular outcome of some event. The idea is that the same market forces described above will do their work, eventually letting the truest results rise to the top through the “wisdom of the crowd”. Gnosis provides the infrastructure for the developers to build dApps for various kinds of prediction markets.GNO tokens were sold during Gnosis’ ICO and are used primarily for staking to earn the second type of token on the platform — OWL. GNO token supply decreases with time, increasing value.GNO’s price almost reached $300 in the bull run of early 2021, peaking in early May. From mid-May until late August, GNO token price went through a slump, mostly trading in the $180–$200 range with occasional dips towards ~$135.This changed at the end of August when the token was listed on Binance: GNO’s price has reached $422.95 on August 31. Since then, its price fell a bit, still hovering around the $300 mark. Those movements,…
Will Consumer Spending Justify Investors’ Expectations? Is There Really “Pent-Up” Demand?
The Level Of Consumer Spending Plays A Major Role In The EconomyPhoto by Michael Longmire on UnsplashThe consensus opinion supporting the current level of investor optimism currently reflected by markets rests largely on the expectation that consumer spending will produce strong economic growth in the years…
Twitter Rolls out Bitcoin Tips, China Cracks Down on Crypto Again — Analysis, 27 Sep
Last week the cryptocurrency market started on a positive footing backed by positive news. For example, on September 23rd, Twitter announced it would integrate Bitcoin tips through the use of a Bitcoin address or Lightning Network-enabled wallet:Source: TwitterThe crypto community welcomed the news, claiming that Twitter will facilitate the mass adoption of cryptocurrency and Bitcoin will become the native currency of the internet:Source: TwitterAnother positive news was that just for the first month of accepting Bitcoin in El Salvador as legal tender, the adoption rate in the country reached 1.6 million citizens and surpassed the number of bank accounts:Source: TwitterHowever, in the second half of the week, the market sentiment changed. Reuters announced that China’s top regulators would ban crypto trading and mining:Source: TwitterChina’s news dragged down the price of Bitcoin from €38,500 to €34,500 just within a couple of hours because the FUD spread across the cryptocurrency space almost immediately.However, during the weekend, the market started to recover because the crypto community realized that the China FUD is not something new to the market:Source: TwitterHashcash inventor Adam Back even underlined that news such as ‘China bans Bitcoin’ is a clear buy signal:Source: TwitterAfter a quite volatile week, the Monday market starts with a solid intra-day price rebound. According to Coin360.com, one Bitcoin costs €37,319.08 (+5.18%), one Ethereum — €2,640.58 (+11.03%), one DOGE — €0.1703 (+5.93%), and one UNI — €20.79 (+37.28%):Source: Coin360.com (Daily crypto market performance)Now, let us analyze the price charts of the leading cryptocurrencies against the euro in the most noteworthy time frames.BTC/EURIn the weekly time frame (1W), BTC/EUR has formed two subsequent Bearish Engulfings:According to the Technical Analysis theory, a Bearish Engulfing is a trend reversal pattern that occurs at the end of some upward price moves. That is why the bulls should be very cautious…
The Reason Why China Will Fail at Banning Bitcoin Again…
by Elena Obukhova, Founder & CEO at FAS | Fintech Advisory ServicesAll the news outlets are saying China banned Bitcoin, but does this ban actually change anything? Let’s start with remembering what Bitcoin is. It is a decentralised peer-to-peer currency that was designed to give people financial freedom. The immutability of Bitcoin is what protects people from the government taking control over their funds. However, the Bitcoin price still has room for market manipulation.China is ranked 13th at “The 2021 Global Crypto Adoption Index Top 20” (Chainanalysis) and is leading in on-chain transactions. This data, of course, does not include an enormous transaction volume at the OTC market. Since 2018 China has had annual withdrawal limits of RMB 100K (~$15.5K), and the government can ask for approval or additional information even for smaller amounts. Imagine how complicated and long the process can be when you’re doing business with an overseas company or simply sending money to your kids who are studying abroad. Thus, the volume at the crypto OTC market started increasing significantly following such restrictions. It’s quite common to hear of an OTC deal for a few million US dollars happening in China.All WeChat payments (along with other centralised mobile payment apps) and bank transfers can easily be traced, however, not all crypto transactions can be. The fear of money getting out of control is forcing some governments to take action against cryptocurrencies. At the same time, other governments are accepting the new economic transition and building a framework for it.China has been banning Bitcoin (and other cryptocurrencies) for years. The price does react in the short term but doesn’t seem to be affected much in the long term. This ban won’t help to fight against untraceable OTC transactions. On the contrary, the OTC market will grow even more.…
Is Binance closing in Singapore?
In the future, Binance customers in Singapore will lose access to spot trading in cryptocurrencies. Deposits with fiat money will also no longer be possible. The ability to buy cryptocurrencies through liquid swap or fiat channels will also go away. All of this goes into effect on October 26.The world’s largest crypto exchange stated on its website:Binance is constantly…
DeFi Connect Warms up for DefiPay Launch for More Convenient Payments
DeFi Connect, the African DeFi startup, is excited to announce the coming launch of its payment platform. According to a recent announcement made by its CEO at a conference, DefiPay will be rolling out in the coming weeks.The project is claiming the attention of the blockchain space with its various real-world use cases. DefiPay will be a pathway for merchants to efficiently run their e-commerce businesses. According to the platform’s team, it works similar to Paystack but runs solely on cryptocurrency payments.Furthermore, other users can leverage the platform to pay for several services, including shopping, hospital bills, and transport, among others. It will release a mobile application that users can scan goods for the pricing. DefiPay will be usable across the DeFi Connect network to increase the usability of its platform.DefiPay is the tip of the icing as DeFi Connect has other features on its platform for user convenience. Other exciting news is Hotbit’s upcoming listing of DeFi Connect’s token, DFC, set for September 29. According to the recent announcement made by Hotbit, the DFC/USDT deposit function will launch at 5.00 am. while the trading function starts at 7.00 am. UTC on the same day. Hobbit stands as the third platform listing DFC besides Latoken and PancakeSwap.Revamping Blockchain TechnologyThe DeFi Connect platform prides itself as a uniting power for users while offering lucrative opportunities for businesses. It leverages the positive characteristics of blockchain technology, including safety, scalability, decentralization, and real-life use cases.The platform hopes to shift the dynamics of the global financial sector through innovation. However, finance is not the only sector the platform wishes to revamp. Its extensive usability is spreading into logistics, transport, and health. In the future, it hopes to explore more possibilities through its straightforward implementation capabilities.One advantage that the platform offers its users is indiscriminate…
The Velocity Of Money Is At Its Lowest Level Since The Great Depression
What Are The Likely Consequences?Photo by Blogging Guide on UnsplashThe velocity of money sits near all-time lows and is slowing, a result of ballooning money supply and the waning of the stimulus effects on the economy.The velocity of money reached a peak in the late 1990s before declining in response to the crash of the…
The Secret to Crypto Investing is Acting Like Patrick Star
This Simpleton Figured It Out Before YouThe Great Snail Race on SpongeBob.Disclaimer: This is not financial advice. I am not an expert. And you should do your own research.Cryptocurrency is the wild west. Lots of opportunity. Lots of risk.The media loves telling you about the success stories. The teenager that turned…