Kategorie: Crypto News

• deVere CEO Nigel Green says institutional investors understand the value of cryptocurrency’s future-focused technology.

• He says crypto is the inevitable future of money and wonders why the IMF is pressuring El Salvador into dropping Bitcoin as legal tender.

Institutional investors have increasingly looked to add to their crypto exposure because they understand that digital currencies are the “inevitable future of money,” says deVere Group chief executive officer Nigel Green.

‏‏According to him, this understanding is one of the reasons that Wall Street giants and other institutional investors across the world are “sensibly increasing their exposure.”

He says the appeal of cryptocurrencies is why household name investors and some of the world’s largest multinational corporations are investing in crypto. It is why several mainstream companies have added digital assets to their balance sheet, and are putting in resources and expertise to help the industry grow.

“They understand and value the key characteristics of Bitcoin and cryptocurrencies are designed for this century and, therefore, are growing in appeal,” Green said.

Commenting on some of the key features that make crypto attractive as the money of this century and beyond, the deVere chief pointed to their borderless and digital nature. This makes crypto perfectly suited for global commerce and trade amid the increased digitalisation of the global economy.

Green also noted that demographically, the younger generations are more likely to embrace Bitcoin and other crypto-assets than the older ones, a scenario he feels works in favour of cryptocurrency.

The IMF is “wrong” on El Salvador Bitcoin demand

Green’s comments also included a criticism of the International Monetary Fund (IMF), which recently urged El Salvador to remove Bitcoin as a legal tender in the country.

He opined that the IMF’s move puts the institution on the “wrong side of history,” for asking a sovereign nation to drop Bitcoin while seemingly insisting it continues to rely on another country’s currency.

According to him, El Salvador’s adoption of Bitcoin as legal tender means the country is looking to leverage “future-focused financial policy” that could see it come out of financial instability and overreliance on the US dollar.

In light of the IMF’s call to El Salvador, Green wonders if the Washington DC-based financial institution is “scared of the future of finance.”

Baffling for IMF not to see Bitcoin’s value

Crypto has been highlighted as a tool that could see financial inclusion and freedom seep into every aspect and sector of society. The IMF realises as much as noted in their recent consultation with El Salvador, but Green says the demand to have Bitcoin dropped is „baffling.“

“Why do they continue to want to pile on debts to poorer countries that they know are unlikely to be able to repay using traditional currencies? Is the IMF worried about the domino effect of nation-state adoption that might weaken their dominant global influence?” he wondered.

He notes that as baffling as the IMF request to the central American country is, its reaction Green sees as a “warning shot” to other countries.

Green believes that institutions such as the IMF ought to work with developing countries on ways geared towards getting out of debt. 

He says this would be possible with future-focused policies as “past methods, clearly, haven’t been as successful as they should have been.”

The deVere CEO however notes that it is important to carefully monitor El Salvador’s situation, with the goal of ensuring the country’s Bitcoin move benefits the citizens as intended.

The post Wall Street’s increased exposure shows institutions understand Bitcoin’s value, says deVere Group CEO appeared first on Coin Journal.

The majority of top 10 cryptos showed gains over the past 24 hours. The US economy smashed expectations in the fourth quarter of 2021 despite a surge in Omicron coronavirus cases.

The Commerce Department reported yesterday that growth increased at an annualized rate of 6.9% in the three months to the end of December, up from 2.3% the previous quarter. 

Despite the good news, US stocks slumped in afternoon trading yesterday as investors digested warnings of rising interest rates and GDP data.

While growth stocks were hammered, Netflix (+7.36%) stood out in front after billionaire investor William Ackman revealed he had built up a $1.1 billion stake in the ailing streaming giant.

Top cryptos

At the time of writing, Bitcoin was up around 3%, Ethereum climbed more than 2%, and 5 other top 10 cryptos were also in the green.

The remaining top 20 cryptos by market cap were mostly flat at the time of writing with the exception of two notable losers: Terra (-13%) and Cosmos (-9%). Both are swiftly reversing recent gains.

Top movers

Most top 100 coins added or lost 1-4% of their value today. FTX Token has surged on news of lucrative partnerships concluded by its issuer, the dynamically developing crypto exchange FTX. It has gained about 5% today.

Gala is reversing yesterday’s gains. It has lost 10% today, approaching an all time low. It has lost just under 70% of its value in one month.

Convex Finance, a platform enabling users to deposit Curve LP tokens to earn Curve trading fees, boosted CRV and CVX tokens, has shed 14% of its value in the last 24 hours.

Finally, Bora is inching its way up the top 100 chart. It currently ranks #86 with 8% added today, bringing its gains to 20% over the past 7 days. It is the only coin on the chart with a positive balance for the past week apart from Helium (less than +2%) and a few stablecoins.

Trending

The biggest gainer today is DIFX, the token of Digital Financial Exchange. Compatible with the Ethereum Mainnet and Binance Smart Chain, it is ERC-20/BEP-20 compliant and decentralized.

DIFX’s value is dependent in part on the reputation of its crypto exchange. DFE is a fully data-encrypted cryptocurrency exchange and insured global trading platform. The token has gained 538% today.

Tectonic is a decentralized money market protocol that allows users to participate as liquidity suppliers or borrowers. It started rallying after a Crypto.com listing at the beginning of this month. It is also a big gainer today, having added 29% to its value in 24 h.

The post Market highlights January 28: Cryptos mostly higher, US GDP beats all expectations appeared first on Coin Journal.

Tectonic is a decentralized money market protocol that allows users to participate as liquidity suppliers or borrowers. It started rallying after a Crypto.com listing at the beginning of this month.

It is also a big gainer today, having added 29% to its value in 24 h. Look no farther than this short, but informative article to find out where the best places to buy Tectonic now are.   

Top places to buy Tectonic now

What is Tectonic?

Tectonic is a protocol, within which suppliers provide liquidity to the market to earn a passive income, while borrowers are able to borrow liquidity in an over-collateralized fashion.

Tectonic’s protocol design and architecture references Compound, a proven and audited protocol. It is complemented with an attractive incentive program powered by $TONIC, the native token of Tectonic protocol.

In summary, Tectonic protocol aims to provide secure and seamless cryptocurrencies money market functionalities, enabling multiple use cases for its users.

Hodlers can generate additional returns from interest by supplying assets to the protocol without having to actively manage their assets.

Traders can borrow certain cryptocurrencies to capitalize their short-term trading view or yield maximizing opportunities.

Users can obtain access to other cryptocurrencies for multiple purposes without having to liquidate their original assets.

Should I buy Tectonic today?

Before you commit to an investment, take the time to read at least several price predictions and study the market. The amount you invest depends on your risk tolerance.    

Tectonic price prediction

Tech News Leader predicts Tectonic can reach $0.00000150 in one year, which is more than double its current price. It will be worth $0.00000421 in 5 years and $0.00002595 in 10.   

Tectonic on social media

1 week Tectonic post-launch update:

🔥Total Supply: $500m
🚀Total Borrow: $314m
🪐Biggest Money Market on @cronos_chain

Insane numbers in just under a week. What a way to end 2021, thank you Tectonians 🌋 pic.twitter.com/GCJmrYLCn2

— Tectonic (@TectonicFi) December 29, 2021

The post You can now buy Tectonic, which is shaking market foundations: here’s where appeared first on Coin Journal.

Frax Share (FXS) is the native token of Frax Protocol, the first fractional-algorithmic stablecoin system in history. It is performing splendidly, up 24% today alone.

If you want to know more details about Frax Share, if it’s worth investing in, and the top places to buy it now, you’ve come to the right place.

Top places to buy Frax Share now

As FXS is such a new asset, it’s yet to be listed on major exchanges. You can still purchase FXS using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy FXS right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for FXS

Now that you’re connected, you’ll be able to swap for 100s of coins including FXS.

What is Frax Share?

Frax is open-source, permissionless, and entirely on-chain, currently implemented on Ethereum. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.

The protocol incorporates the concept of fractional algorithm. Frax is a unique stablecoin with parts of its supply backed by collateral and parts of the supply algorithmic.

The ratio of collateralized and algorithmic depends on the market’s pricing of the FRAX stablecoin.

If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.

It is community governed and emphasizes a highly autonomous, algorithmic approach with no active management.

Should I buy Frax Share today?

Frax Share can be a lucrative investment, but it’s important to read at least several price predictions and take all investment advice with a grain of salt.   

Frax Share price prediction

Price Prediction forecasts the price of Frax Share will be at least $35 in 2023. The Frax Share price can reach a maximum level of $43.24 with the average price of $35.90 throughout 2023.

In 2024, they predict the price of Frax Share will be at a minimum of $49.23. It can go up to as much as $60.63. The next year, 1 FXS will trade for at least $70.00.  

Frax Share on social media

Small #Crypto (by mkt cap)#NEM $0.12(⇑2.5%)#Pax Dollar $1.0(⇑0.13%)#Frax Share $29.91(⇑2.6%)#Compound $174.94(⇑1.04%)#Huobi BTC $43255.63(⇑2.08%)#Gatechain $7.15(⇑1.14%)#SafeMoon V $0.0(⇓1.24%)https://t.co/vl4PEew7Gt

— Raj Agrawal (@Agrawal_Raj) January 20, 2022

The post Frax Share added 24% to its value in 24 hours: top places to buy Frax Share now appeared first on Coin Journal.