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Ether (ETH) Continues to Inch Toward $3,000 Amid Rising Institutional Interest

There are now 40 million #Ethereum addresses holding #ETH

There are now 40 million #Ethereum addresses holding #ETHEther (ETH) rise over $2,700 to record a new ATH. Ether Demand Continues to Grow At the time of writing, ETH is trading at $2,716, according to data from CoinGecko. The world’s second-largest cryptocurrency now commands a market cap of over $314 billion with a 24-hour trading volume of more than $41 billion. While the

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Ether (ETH) rise over $2,700 to record a new ATH.

Ether Demand Continues to Grow

At the time of writing, ETH is trading at $2,716, according to data from CoinGecko. The world’s second-largest cryptocurrency now commands a market cap of over $314 billion with a 24-hour trading volume of more than $41 billion.

While the price of ETH in USD pair is definitely encouraging, analysts might only be seeing the tip of the iceberg if they are not following the ETH/BTC pair price action.

In the bitcoin pair, ether is currently closing on on 0.05ETH per BTC.

According to data from CoinGecko, ETH’s ATH value against BTC was close to 0.15ETH at the peak of the 2017-18 crypto bull run. In that regard, in the current rally, ether is yet to triple in value from here just to reach its previous ATH against bitcoin.

Once the previous ATH against BTC is broken, the sky is the limit for ETH.

What’s Causing the ETH Rally?

While the overall crypto market continues to witness new all-time-highs in terms of user adoption and market cap, ether’s rally has been somewhat slow and steady. However, it has been the most resilient among all cryptos courtesy of its exponentially growing use-cases and approval from regulatory bodies.

The rise in ETH price could be attributed to numerous catalysts.

First, the anticipation for ETH2.0. ETH2.0. promises to bring a whole lot of improvements and performance enhancements to the Ethereum network. While the Beacon Chain for the network was launched in December 2020, there are still several upgrades to be achieved in order to run a fully functional ETH2.0.

For instance, pretty much the entire cryptoverse is eagerly waiting for the implementation of the highly contentious EIP-1559 which would essentially make ETH a deflationary asset thereby putting upward pressure on its price.

Further, the excitement toward staking ETH for passive rewards is higher than ever. As recently reported by BTCManager, U.S.-based cryptocurrency exchange Coinbase started sending out invitations to customers on the waitlist to stake their ether.

With the eventual launch of Layer-2 scaling solution Optimism primed in July, ether could surprise many with its unfathomable price action.

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Blockchain

VulcanVerse’s Marketplace Volume Triples from $5m to $15m, $20M Giveaway to Follow

Press Release: Newly-launched decentralized gaming platform, VulcanVerse, offers $20m giveaway as volume on its in-game marketplace triples.  11th May 2021, Cardiff, United Kingdom – Decentralized gaming platform, VulcanVerse is launching into the online gaming world, with record growth in users following a successful token sale.  The gaming platform is positioning itself as a pioneer in […]

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Press Release: Newly-launched decentralized gaming platform, VulcanVerse, offers $20m giveaway as volume on its in-game marketplace triples. 

11th May 2021, Cardiff, United Kingdom – Decentralized gaming platform, VulcanVerse is launching into the online gaming world, with record growth in users following a successful token sale. 

The gaming platform is positioning itself as a pioneer in NFT-based gaming, an area that has recently seen a huge surge in interest as a result of the wider NFT-mania that permeated the cryptocurrency market earlier this year. VulcanVerse expects to capitalize by converting this newly-found interest in online gaming into increased adoption for its own unique virtual world. 

With that aim, VulcanForged, the project behind VulcanVerse, has made several integrations with other blockchain-based platforms, including Polygon (formerly Matic), to broaden its reach. The team recently completed a sale for the platform’s native token, PYR, aimed at stimulating activity in its in-world marketplace. VulcanVerse wants to establish itself as a leader in decentralized gaming.

VulcanVerse In Demand 

Indeed, both have increased demand for VulcanVerse’s fantasy platform. PYR completed a successful token sale just over three weeks ago which led to a threefold increase in the volume from $5 million to $15 million on the platform’s marketplace, Vulcan Marketplace. The marketplace, which allows users to trade NFTs used in the fantasy game, is now one of the top five NFT marketplaces in the cryptocurrency space as a whole. 

As well as arctic as the native currency for the Vulcan Marketplace, PYR is also a utility token that can be used for staking, fee settlements, DeFi game launchpads, platform pools, and play-to-earn benefits as well as discounts for items on the Vulcan Marketplace. PYR is now available on Uniswap and Quickswap DEX.

In addition to sound economic performance, both for PYR and the platform’s own marketplace, VulcanVerse’s team has been pushing ahead with a number of integrations to sure up the platform’s infrastructure, as well as attract new users. The team has partnered with several leading blockchain platforms, Arkane Network and Polygon. The most recent Polygon partnership sees PYR launched on the Polygon network via an adapted version of the network’s Plasma feature, a layer two solution that aims to fix Ethereum’s scalability issues. The objective is to ensure VulcanVerse’s infrastructure can handle any increased output generated by an expected influx of users as the game expands as well as gain support from more established projects.

In a bid to incentivize even more growth, the VulcanVerse team is conducting a $20m PYR giveaway, the details of which can be found here

Navigating the VulcanVerse

As well as good macro-performance, VulcanVerse’s gaming world is a carefully scripted and rich environment itself. Land is integral to the in-world gameplay, with users able to buy plots of 20×20 square meters to build on or sell later at a higher price. Although new users can explore the universe without owning land, certain features of play are only available to landowners in order to encourage the evolution of the environment through building. 

Each plot of and the tools used to build on land are associated with specific “levels” all themed after Greek mythology. Users unlock these levels in gameplay, with each new level producing higher-value land and a more complex set of building tools.

As well as land, the VulcanVerse hosts NFT-based creatures called Vulcanites. Each Vulcanite is unique, has a tailored lore and set of skills that can be upgraded. They can be used to forage materials, compete for exclusive NFTs during treasure hunts or participate in community-led mini-games and side-quests. To balance world-building and interactivity, they provide benefits for their owners and help them level up but cannot be used to negatively affect others (e.g. they cannot attack players unless it’s part of an event). 

Vulcanites can be traded as 2d game cards on the VulcanMarketplace where users can browse other users’ Vulcanite stats. 

About VulcanVerse

VulcanVerse is a virtual world set in the Greco-Roman era. It is a stand-alone game that uses blockchain technology to enable users to truly own their land and assets. Its detailed lore is written by the authors of Fighting Fantasy, a series of successful single-player role-playing gamebooks created by Steve Jackson and Ian Livingstone. Additionally, the virtual world boasts complex gaming tools and multiplayer game-playing functionalities. 

VulcanVerse is blockchain-based, with key items in the virtual world existing as NFTs on a purpose-built blockchain. Its virtual world can be accessed via a downloadable application that recently became available on Google’s Play Store. 

The team behind the virtual world consists of a number of veteran online gaming developers and enthusiasts, selected from a wide cross-section of gaming companies including Vulcan Forged, Serv Reality, Spark Labs, and Fabled Lands Ltd.

For more information on how to become part of the VulcanVerse, visit their website here.

VULCANVERSE is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. 

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Source: https://bitcoinist.com/vulcanverses-marketplace-volume-triples-from-5m-to-15m-20m-giveaway-to-follow/?utm_source=rss&utm_medium=rss&utm_campaign=vulcanverses-marketplace-volume-triples-from-5m-to-15m-20m-giveaway-to-follow

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Blockchain

Introducing CoinWind: Smart Yield Optimizer on BSC and HECO

Singapore, May 10, 2021 – Currently supported on HECO (Huobi Eco-Chain) and BSC (Binance Smart Chain), CoinWind is a smart yield farming platform that automatically matches pledged tokens to maximize all user revenues. In the increasingly competitive landscape of DeFi (decentralized finance) yield farming, CoinWind effectively solves issues of both low revenues from single-token mining […]

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Singapore, May 10, 2021 – Currently supported on HECO (Huobi Eco-Chain) and BSC (Binance Smart Chain), CoinWind is a smart yield farming platform that automatically matches pledged tokens to maximize all user revenues.

In the increasingly competitive landscape of DeFi (decentralized finance) yield farming, CoinWind effectively solves issues of both low revenues from single-token mining and high risks from impermanent losses on LP (liquidity pool) mining. Currently the TVL (Total Volume Locked) on the platform is an impressive USD 2.69 Billion.

A Smart Decentralized Finance Management Platform

Positioned as a smart decentralized finance management platform and not simply an aggregator tool, CoinWind focuses on optimizing users’ yields.

The high-yield, safe and reliable platform places tokens deposited by users into the different pools, and mobilizes funds from certain token pools to participate in different liquidity minings, all according to a combination of project selection and mining strategies.

At the same time, this is combined with token price hedging strategies to mitigate impermanent loss in liquidity mining so as to ensure the safety of funds.

The aim is to maximize the rate of returns for users while reducing unpredictable losses.

High Yield Products: Single-Token and LP Farms

Currently launched on HECO and BSC, CoinWind plans to integrate other chains such as ETH and OKT in the future.

According to Musk, Head of CoinWind Community, CoinWind’s competitive edge is in offering low user thresholds and maintaining high yields that work together to attract liquidity providers. In the Chinese DeFi space, the platform is one of the most popular in terms of single-token mining.

Professional project selections include screening audited, popular and relatively stable projects, combined with mining strategies to optimally match up with high-yield pools for highest profit returns as well as hedging strategies to reduce impermanent losses, a frequent concern in yield farming.

CoinWind offers both Single-token (or Single-Asset) mining and LP (liquidity pool) mining opportunities, offering attractive APY (annual percentage yield) with flexible staking.

For single-token mining opportunities, there are currently 16 tokens on HECO and 14 on BSC. Some APY highlights would include MDX token (208.99% on HECO and 305.67% on BSC), USDT (30.08% on HECO and 35.37% on BSC), DOGE (44.85% on HECO), HUSD (33.87% on HECO), UNI (31.44% on HECO), HDMX (140.23% on BSC), BUSD (44.27% on BSC) and WBNB (37.57% on BSC), amongst many others.

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For liquidity pool mining opportunities, there are currently 15 pairs on HECO and 15 pairs on BSC. Some APY highlights would include MDX-USDT (215.38% on HECO and 278.73% on BSC), MDX-WHT (207.72% on HECO), MDX-WBNB (376.08% on BSC), MDX-BUSD (402.76% on BSC), MDX-HBTC (191.33% on HECO), MDX-BTCB  (341.53% on BSC), WBNB-USDT (74.79% on BSC) and MDX-ETH (232.58% on HECO), amongst many others.

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Automatically Reinvests Profits

CoinWind also does not let the income generated in the LP pool lie idle. Every 5 – 10 minutes, it automatically reinvests the profits into high-yield projects and this process is continuously repeated so that incomes are efficiently used to generate optimal profits and it also saves time for the user who would otherwise have to manually process this.

As of this writing, total user revenues have reached USD 85,578,977.14.

Strong Growth Potential MDX Token as Target Value

CoinWind currently uses the MDX token as the target value, a nod to MDEX, the largest platform on HECO and performing well in the competitive BSC environment. The leading DEX (decentralized exchange) implements a unique strategy of dual mining, combining liquidity and transaction mining. This has led to an explosive growth in its platform trading volumes.

Recognizing the stellar performance and strong growth potential of the MDEX platform, CoinWind’s utilization of the MDX token as a core value of exchange on its platform is yet another astute move.

For more info about CoinWind, visit the official website: https://www.coinwind.com

CoinWind official channels:

Twitter: https://twitter.com/coinwind_com

English Telegram: https://t.me/CoinWind

Chinese Telegram: https://t.me/coinwind_cn

Medium: https://mdex.medium.com/

Media Contact

Cecilia Wong, yourPRstrategist.com

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Source: https://bitcoinist.com/introducing-coinwind-smart-yield-optimizer-on-bsc-and-heco/?utm_source=rss&utm_medium=rss&utm_campaign=introducing-coinwind-smart-yield-optimizer-on-bsc-and-heco

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FTX Trading Volume Surpassed $400 Billion in April

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FTX has become one of the world’s largest cryptocurrency exchanges after surpassing $400 billion in trading volume in April.

Last month, the exchange also saw $14 billion in average daily volume, with open interest peaking above $10 billion. This represents 25-fold year-on-year growth compared to April 2020. FTX is also the world’s fastest growing exchange in terms of market share and new products added. It currently has around one million registered users.

FTX’s development

After a three-year stint at the quantitative-trading firm Jane Street Capital, and starting Alameda Research in late 2017, Sam Bankman-Fried started FTX two years ago. The digital-assets trading platform celebrated its two-year anniversary on May 8.

In a statement, Bankman-Friend noted how the firm began by identifying what appeared to be a niche in the market. “We took a look at the state of the world’s crypto exchanges and identified a gap in the marketplace for a reliable and secure platform robust enough to meet the needs of institutional traders and other power users,” he said. “Two years later, FTX has established itself as a leading crypto exchange offering innovative and industry-leading products.”

In one of the largest transactions of last year, the company acquired portfolio tracking app Blockfolio for $150 million. At the time, Bankman-Fried said FTX would not liquidate the company, but committed to making Blockfolio “massively bigger.” FTX also began offering its users a mobile app at the beginning of the year.

FTX Foundation

The announcement also noted the progress of the FTX Foundation, highlighting that Bankman-Fried is a supporter of “effective altruism.” FTX established its foundation in February 2021, with the mandate to direct 1% of FTX fee revenue “to organizations offering the greatest positive impact on the world.” 

Since then, the foundation has donated $730,000 to organizations such as GiveDirectly, Clean Energy Innovation, and Oxygen for India. The foundation earmarked another $7.4 million to charitable endeavors since its inception. However, these funds predominantly came from users of the platform.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage. He can best be described as an optimistic center-left skeptic.

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Source: https://beincrypto.com/ftx-volume-surpassed-400-billion-in-april/

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Bank Of Israel Bypasses Bitcoin With Plans For Digital Shekel

2020 brought Bitcoin and other cryptocurrencies to the forefront of finance. Corporations have been buying, hedge funds are swapping gold for BTC, and banks and brands have taken a “can’t beat ’em, join ’em” stance against the emerging asset class. However, according to The Bank of Israel’s plan, the central bank will increase efforts around […]

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2020 brought Bitcoin and other cryptocurrencies to the forefront of finance. Corporations have been buying, hedge funds are swapping gold for BTC, and banks and brands have taken a “can’t beat ’em, join ’em” stance against the emerging asset class.

However, according to The Bank of Israel’s plan, the central bank will increase efforts around examining the possibility of issuing a digital shekel.

The Bank Of Israel Rolls Out Model Plan For Digital Shekel

Following the lead of China and other nations exploring the validity of issuing a central bank digital currency, The Bank of Israel steering committee has published a draft model outlining what a digital shekel could behave like.

The committee was quick to stress that no firm decision yet has been made regarding if The Bank of Israel would eventually issue such a currency.

Related Reading | Bank Begins Blocking Shares Of Companies Who Buy Bitcoin

“A digital shekel could generate various benefits for the Israeli economy, but issuing it also involves risks,” a representative for The Bank of Israel explained.

“The Bank of Israel is preparing an action plan so that if conditions develop in the future that lead to a Bank of Israel assessment that the benefits of issuing a digital shekel outweigh the costs and potential risks, the Bank of Israel will be prepared to put this plan into action,” the representative concluded.

CBDCs Are Coming: Why Bitcoin Is Their Biggest Threat

The Bank of Israel has completely bypassed Bitcoin in favor of exploring their own central bank-issued digital currency. However, that shouldn’t come as a surprise.

Israel only this month saw Apple Pay roll out across the country. Adopting decentralized cryptocurrencies is far more daring of a venture.

Less risky, however, is exploring a central bank-issued digital currency, and The Bank of Israel is still being overly cautious and taking its time in regards to developing a digital shekel.

Related Reading | IRS To View Bitcoin Exchange Records, “Taxman” Is Coming “For Crypto” 

What’s notable about the change of tune, is that even the reluctant can’t continue to deny the disruptive potential and enormous value blockchain and crypto-based technologies provide.

And this all began with Bitcoin. The first ever cryptocurrency also came with the technology that allows individuals to be their owns banks.

China was the first major country to issue its own digital version of the yuan, but several other countries are also planning to follow suit. However, despite the coming global digital currency arms race, the biggest risk to any central bank issued digital currencies, is Bitcoin itself.

If Bitcoin became the global reserve currency in the end anyway, there could be a lot of risk put forth by central banks for very little reward.

Featured image from iStockPhoto, Charts from TradingView.com

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Source: https://bitcoinist.com/bank-of-israel-bypasses-bitcoin-with-plans-for-digital-shekel/?utm_source=rss&utm_medium=rss&utm_campaign=bank-of-israel-bypasses-bitcoin-with-plans-for-digital-shekel

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