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Bitcoin Crashes: Drops to $49,000 Per Unit

If we thought bitcoin was doing poorly before, we are having to redefine our ideas. It looks like the world’s number one digital currency by market cap has fallen below the $50,000 mark and at the time of writing, is trading for just over $49,000. Bitcoin Is Suffering Harder Than It Has in a While

The post Bitcoin Crashes: Drops to $49,000 Per Unit appeared first on Live Bitcoin News.

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If we thought bitcoin was doing poorly before, we are having to redefine our ideas. It looks like the world’s number one digital currency by market cap has fallen below the $50,000 mark and at the time of writing, is trading for just over $49,000.

Bitcoin Is Suffering Harder Than It Has in a While

This marks a $5,000 drop for the asset in just the past 24 hours and a fall of more than $15,000 for the currency over the past two weeks. The currency appears to be dipping into bearish territory for the first time in a while, and analysts are beginning to freak out.

As if that was not bad enough, it looks like the hype and hoopla surrounding Coinbase’s shares on the Nasdaq has died down as well. The popular cryptocurrency exchange has seen its stock fall by more than three percent in just the last day, with shares dropping to about $282 each at press time.

What could have happened to make all these falls occur so suddenly? Is it possible that perhaps the momentum surrounding both assets could have died down this quick? Are people now not interested in these assets and looking for new items to trade? Or is the regular economy tightening up now that stores are opening and the incessant lockdowns are coming to an end, thereby leading to a dip in the crypto space which tends to thrive on economic chaos?

Right now, there appear to many factors playing into the slides. One is that Turkey is considering a ban of all cryptocurrencies. Another is that the bitcoin mining sector continues to garner hate and negative attention given all the energy it supposedly uses. This has been a focal point for the last few months given that increases in bitcoin’s price usually means that it becomes more expensive to mine.

According to a report issued by the International Energy Agency (IEA) in Paris, France, the demand for energy is likely to increase by nearly five percent by the end of this year alone. The document explains:

Demand for all fossil fuels is set to grow significantly in 2021. Coal demand alone is projected to increase by 60 percent more than all renewables combined, underpinning a rise in emissions of almost five percent or 1,500 metric tons. This expected increase would reverse 80 percent of the drop in 2020, with emissions ending up just 1.2 percent (or 400 metric tons) below 2019 emissions levels.

The Futures Market Is Stalling

Nikolaos Panigirtzoglou of JPMorgan Chase believes that long positions in BTC futures may be preventing bitcoin from experiencing more bullish behavior. He states:

Over the past few days, bitcoin futures markets experienced a steep liquidation in a similar fashion to the middle of last February, middle of last January or the end of last November.

Tags: bitcoin, Bitcoin Mining, coinbase, Turkey Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/bitcoin-crashes-drops-to-49000-per-unit/

Blockchain

Ethereum Classic Price Analysis: 6 May

Ethereum Classic is currently undergoing its largest bullish rally in 2021. Since the start of May, the asset has been up by 190% in the charts, registering a new all-time high at $118. The surge has

The post Ethereum Classic Price Analysis: 6 May appeared first on AMBCrypto.

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Ethereum Classic is currently undergoing its largest bullish rally in 2021. Since the start of May, the asset has been up by 190% in the charts, registering a new all-time high at $118. The surge has been incredible and true to its altcoin nature, extremely volatile. However, there are signs that the price is going to exhibit a strong correction over the next few days, with its momentum slowly dying out.

Ethereum Classic 6-hour chart

ETC/USDT on Trading View

The present analysis does not exhibit any proper patterns so the guidelines for a short-position are based on the Fibonacci lines calculated based on its previous top at $49.8. While ETC’s price should not have surged beyond $88 in the current rally, this particular range can now be considered an appropriate range for correction.

Breaching past its -1.272 Fib line, the rally is starting to slow down. Decreasing trading volume is a decisive sign at press time, as buying pressure is seemingly reducing in the 12-hour time frame.

Market Rationals

ETC/USDT on Trading View

Relative Strength Index is also tapering at a previous high range, which may indicate an eventual dump of buying pressure. Stochastic RSI is more uncertain but the selling pressure should be kicking in anytime in the chart.

On-balance Volume is currently higher than the end of April, and the chances of buyers selling for profit at this range are more likely than a week before.

Keeping the above narratives and range in mind, a short position can be entered at $115. An appropriate stop can be placed at $128, and distinguished by the Fib-line. Profits can be taken at any range between $88 and $74, but a correction to $74 should unfold over the next few days. While the Risk/Reward ratio is 3.08x, it is important to note that it is incredibly risky to short ETC at the moment, since buying pressure may invariably return if market sentiment triggers another rally.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/ethereum-classic-price-analysis-6-may

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Major Law Firm CMS Adds Stratis (STRAX) to its Legal Accelerator Program

Blockchain-based services company Stratis was selected to become the newest member of CMS’s legal accelerator program.

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The large law firm CMS selected the blockchain service company Stratis, for its equIP legal accelerator program. As a result, Stratis and CMS will offer support and guidance to startups requiring legal counsel.

CMS Adds Stratis to Accelerator Program

Founded in 1999, CMS is an integrated, multi-jurisdictional organization of law firms that offers full-service legal and tax advice. The firm has more than 70 offices in over 40 counties with nearly 5,000 lawyers.

In a press release shared with CryptoPotato, Stratis announced a partnership with CMS. The former is a blockchain-based project offering enhanced security, reliability, and performance through its DLT system.

This means that Stratis will join the law firm’s legal accelerator program called CMS equIP. The integration will enable the blockchain-based service company to “easily tap into CMS’s expert legal teams across the firm’s 70 offices worldwide.”

Stratis will also enjoy “steep” discounts and will be able to access the law firm’s network of investors, tech companies, and startups.


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The CMS equIP program will offer support to startups requiring legal counsel. However, they would need to pass “stringent” selection processes.

“We are please do welcome Stratis to the CMS equIP fold. It has and continues to set a remarkable track record in supporting new businesses and startups that are being built by some of the brightest minds in the country.

As we build a center of excellence for legal services specifically for blockchain companies, and in EmTech generally, Stratis will form an important part of this.” – commented Charles Kerrigan, CMS Partner.

Crucial Importance for Stratis

The statement outlined the “critical” benefits coming in Stratis’ way after receiving access to the “best legal advice in the world.” Furthermore, the partnership could also serve as a major first step towards bridging the gap between companies from within and outside of the cryptocurrency industry, especially in times when global regulations are looming.

Stratis Founder and CEO Chris Trew also highlighted the significance of this integration for this company:

“Being selected to become a member of CMS’s exclusive equIP program is a tremendous achievement for Stratis and a testament to the fantastic technology we have built and delivered. As the first blockchain-based project to be admitted to the program, I look forward to exploring opportunities and collaborating with other innovative equIP members.”

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/major-law-firm-cms-adds-stratis-strax-to-its-legal-accelerator-program/

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Blockchain

Moma Protocol Completes $2.25M Round to Create Infinite Liquidity for DeFi Lending Markets

[Press Release – Singapore, Singapore, 6th May, 2021] Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollar round of funding led by Fundamental Labs and SevenX Ventures. Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart […]

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[Press Release – Singapore, Singapore, 6th May, 2021]

Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollar round of funding led by Fundamental Labs and SevenX Ventures.

Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart contract factory, creating an ecosystem that allows for the infinite expansion of lending liquidity and market diversity. Moma Protocol was incubated and supported by Lichang, a community App with over a million registered users. Since the protocol’s concept inception, the concept of “improving the scalability of the DeFi lending market” has been favored by the crypto market and recognized by the community.

The investors in this round include Fundamental Labs, a highly reputable blockchain fund that has invested in Coinbase, and also SevenX Ventures, which has over 100 successful investments in it’s portfolio, as well as other investors including AU21 Capital, Blocksync Ventures, BuildingBlocks, Coins Group, Consensus Investment, DFG Capital, FBG Capital, Finlink Capital, Lotus Capital, Magnus Capital, Moonrock Capital, Moonwhale Ventures, Oasis Capital, Spark Digital Capital, Waterdrip Capital, X21 Digital and Zee Prime Capital.  (Participating institutions in alphabetical order).

As an ecosystem with unlimited expansion of lending liquidity and market diversity, Moma Protocol can enrich the DeFi lending market by opening up new lending markets for long-tail digital assets.

SevenX’s spokesperson points out the reason for his bullish view on the Moma Protocol: “As the most important foundation pillar of DeFi architecture — the lending agreement, Moma has made a unique and permissionless innovation here, which greatly enriches the diversity of the market. It has huge potentials to become a scalable platform covering both the mainstream and long tail digital assets.”

Commenting on the investment in Moma Protocol, FBG’s founder Shuji Zhou said, “The DeFi market has seen explosive growth over the past year, with more and more assets being swept up in the DeFi wave. Moma Protocol meets the lending needs of long-tail assets by providing a proprietary smart contract factory that combines the strengths of Uniswap and Compound, to produce an unlimited number of customizable lending pools, thereby bringing more assets into the current lending market to increase the liquidity, diversity and scalability of the DeFi ecosystem, which is something to look forward to. ”

Moma Protocol’s Founder and CEO, Ocean Liao: “I believe that the goal that Moma Protocol wants to achieve is to create an expandable, scalable and flexible infrastructure for the DeFi world in 5-10 years, in a way that everyone can freely participate. I am optimistic about the DeFi ecology and the lending scenario, and I am happy to be able to drive Moma Protocol to explore the future with the infinite liquidity-generating factory model that fascinates me the most. We are ready to set sail!”

About Moma Protocol

As a solution to meet users’ demand for liquidity, scalability, and speculation needs in the DeFi lending markets, Moma Protocol produces, manages, accelerates and aggregates the lending market through a proprietary smart contract factory, creating an ecosystem that can expand infinitely in lending liquidity and market diversity. The beta version of the product has currently been online and the official version of the product will be live in Q2 2021.

Team

CEO Ocean

Master Degree at Fudan University, senior programmer, serial entrepreneur in the blockchain industry with solid experience in initiating projects such as Gravity (300,000 users), Lichang (1 million users), TokenUp wallet (100,000 users); respected veteran in the Chinese community.

CTO V.C

Master Degree at Fudan University, senior blockchain developer, independently led the development, testing, and deployment of two Ethereum-based DeFi projects, and was involved in the launch of the mainnet and application development of blockchain projects such as EOS, Platon and Worbli.

CMO Virginia

Co-founder of Coins Group, a crypto fund based in Hong Kong, 12 years of experience in digital marketing and internet start-up building; 4 years of experience in blockchain investment and project incubation, invested in over 30 blockchain projects

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/moma-protocol-completes-2-25m-round-to-create-infinite-liquidity-for-defi-lending-markets/

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Blockchain

Moma Protocol Completes $2.25M Round to Create Infinite Liquidity for DeFi Lending Markets

[Press Release – Singapore, Singapore, 6th May, 2021] Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollar round of funding led by Fundamental Labs and SevenX Ventures. Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart […]

Avatar

Published

on

[Press Release – Singapore, Singapore, 6th May, 2021]

Moma Protocol, an innovative solution to solve scalability, liquidity and speculation needs in the current DeFi lending market, has completed a $2.25 million dollar round of funding led by Fundamental Labs and SevenX Ventures.

Moma Protocol creates, manages, accelerates, and aggregates lending markets through a proprietary smart contract factory, creating an ecosystem that allows for the infinite expansion of lending liquidity and market diversity. Moma Protocol was incubated and supported by Lichang, a community App with over a million registered users. Since the protocol’s concept inception, the concept of “improving the scalability of the DeFi lending market” has been favored by the crypto market and recognized by the community.

The investors in this round include Fundamental Labs, a highly reputable blockchain fund that has invested in Coinbase, and also SevenX Ventures, which has over 100 successful investments in it’s portfolio, as well as other investors including AU21 Capital, Blocksync Ventures, BuildingBlocks, Coins Group, Consensus Investment, DFG Capital, FBG Capital, Finlink Capital, Lotus Capital, Magnus Capital, Moonrock Capital, Moonwhale Ventures, Oasis Capital, Spark Digital Capital, Waterdrip Capital, X21 Digital and Zee Prime Capital.  (Participating institutions in alphabetical order).

As an ecosystem with unlimited expansion of lending liquidity and market diversity, Moma Protocol can enrich the DeFi lending market by opening up new lending markets for long-tail digital assets.

SevenX’s spokesperson points out the reason for his bullish view on the Moma Protocol: “As the most important foundation pillar of DeFi architecture — the lending agreement, Moma has made a unique and permissionless innovation here, which greatly enriches the diversity of the market. It has huge potentials to become a scalable platform covering both the mainstream and long tail digital assets.”

Commenting on the investment in Moma Protocol, FBG’s founder Shuji Zhou said, “The DeFi market has seen explosive growth over the past year, with more and more assets being swept up in the DeFi wave. Moma Protocol meets the lending needs of long-tail assets by providing a proprietary smart contract factory that combines the strengths of Uniswap and Compound, to produce an unlimited number of customizable lending pools, thereby bringing more assets into the current lending market to increase the liquidity, diversity and scalability of the DeFi ecosystem, which is something to look forward to. ”

Moma Protocol’s Founder and CEO, Ocean Liao: “I believe that the goal that Moma Protocol wants to achieve is to create an expandable, scalable and flexible infrastructure for the DeFi world in 5-10 years, in a way that everyone can freely participate. I am optimistic about the DeFi ecology and the lending scenario, and I am happy to be able to drive Moma Protocol to explore the future with the infinite liquidity-generating factory model that fascinates me the most. We are ready to set sail!”

About Moma Protocol

As a solution to meet users’ demand for liquidity, scalability, and speculation needs in the DeFi lending markets, Moma Protocol produces, manages, accelerates and aggregates the lending market through a proprietary smart contract factory, creating an ecosystem that can expand infinitely in lending liquidity and market diversity. The beta version of the product has currently been online and the official version of the product will be live in Q2 2021.

Team

CEO Ocean

Master Degree at Fudan University, senior programmer, serial entrepreneur in the blockchain industry with solid experience in initiating projects such as Gravity (300,000 users), Lichang (1 million users), TokenUp wallet (100,000 users); respected veteran in the Chinese community.

CTO V.C

Master Degree at Fudan University, senior blockchain developer, independently led the development, testing, and deployment of two Ethereum-based DeFi projects, and was involved in the launch of the mainnet and application development of blockchain projects such as EOS, Platon and Worbli.

CMO Virginia

Co-founder of Coins Group, a crypto fund based in Hong Kong, 12 years of experience in digital marketing and internet start-up building; 4 years of experience in blockchain investment and project incubation, invested in over 30 blockchain projects

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/moma-protocol-completes-2-25m-round-to-create-infinite-liquidity-for-defi-lending-markets/

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