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What Changed in Crypto Markets While You Were Sleeping — April 29

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BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Bitcoin update

BTC has been increasing since bouncing on April 26. The bounce began at a strong support level between $46,900-$47,725. The support is created by the 0.5 long-term Fib (orange) and 0.786 short-term Fib (black) retracement levels. 

However, BTC reached a high of $56,428 before decreasing.

While the MACD has given a bullish reversal signal, both the Stochastic Oscillator and the RSI are bearish. More specifically, the latter was just rejected by the 50-line and is now decreasing.

Until the price manages to reclaim the current resistance area near $56,000, we cannot consider the trend bullish.

BTC Bounce
BTC Chart By TradingView

Altcoin movers

The cryptocurrency top-10 by market cap remains unchanged since yesterday. The market is mostly green today following some general recovery in both ETH and BTC. The total cryptocurrency market cap is back to $2.08 trillion after falling to $1.7 trillion last week.

Fantom (FTM) is today’s biggest altcoin gainer by far. It’s up more than 44% in a move to $0.69. The pump has propelled FTM into the #71 spot after an 82% total gain in the past week.

Not many cryptocurrencies are in the red today. WAVES is the biggest loser of the day, although at the moment, it’s only down by just over 3%. This seems like just a normal correction considering that WAVES has added more than 32% in the past seven days.

In other crypto news

  • The U.S. Securities and Exchange Commission (SEC) has deemed it necessary to take more time to make a decision on the approval of the VanEck Bitcoin ETF application.
  • The Polygon blockchain protocol has announced a new decentralized finance (DeFi) fund with the aim of bringing the fledgling financial sector to a wider user base.
  • Regulators in Europe have announced their investigation into Binance over its recent stock token launches.

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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Migrated from the East Coast USA to South-East Asia after graduating from East Stroudsburg University. Began trading and writing about cryptocurrencies in 2016, and have been an avid investor in stocks and precious metals since my teens.

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Source: https://beincrypto.com/what-changed-crypto-markets-while-sleeping-april-29/

Blockchain

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.

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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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Carole Baskin of Big Cat Rescue Talks to BIC on $CAT Coin

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Big cat activist and CEO of Big Cat Rescue, Carole Baskin, recently launched the altcoin $CAT. This is just the beginning, as she plans to move into NFTs next.

Best known for her appearance in the Netflix documentary Tiger King, Baskin made headlines with the announcement of the coin. BeinCrypto spoke to Baskin about her new coin, plans for non-fungible tokens (NFTs), and interest in cryptocurrency as a hedge against the U.S. dollar.

Getting that $CAT

Baskin explains that she’s been interested in emerging technologies for a while. As interest in cryptocurrencies picked up again recently, following the bitcoin bull run, Baskin thought it was a great time to launch her own coin with Rally.io.

“I was so happy to be able to get the name Cat. I just love that I think you can’t have enough cats on the internet, and there should absolutely be a Cat Coin.”

While an altcoin, Baskin’s new crypto isn’t designed to be an investment mechanism. Rather, she sees it as a way for people to engage with each other in like-minded communities. The $CAT coin specifically enables community building for those interested in her work with big cats.

“I think these all coins are really interesting in that I don’t see it as a currency so much as a way of engaging with our audience and giving them a way that they can share back and forth.”

So far the $CAT coin is sitting at number 10 on the site’s list of creator coins, with 990 supporters and a price of $15 per coin.

A triumphant return to crypto

This isn’t Baskin’s first time dealing with crypto. In 2018, she says she became involved in Crypto Kitties. As a result, she bought some ethereum and bitcoin as well.

Despite losing her seed phrase almost immediately, she recovered it this year and found her investment had grown pretty well. This prompted her to invest a bit more into bitcoin.

In addition, Baskin’s interest is supported by her concern about the United States’ rate of printing money.

“I think we need to be banking revenue in other ways and cryptocurrencies so that we have some kind of a hedge against what I expect is going to be an absolute implosion because of the way we are currently printing fiat money.”

She feels that people should consider ways to decrease their reliance on fiat currency alone. As part of a recent fundraiser, she offered $CAT coins to those who donated more than $500.

“I feel like it’s important for them to explore these different types of currencies because I am concerned about the US dollar.”

Crypto for non-profits

Overall, the non-profit sector has been one of the most receptive to cryptocurrencies. Opening up their donations to cryptocurrencies before most businesses or governments.

Baskin asserts that crypto is beneficial because it allows people to create their spaces to build and expand without being dictated to by the standard restrictions found on current social media platforms.

“This gives everybody kind of a currency, or we’re calling it a “purr-ency,” for them to be able to interact with each other and tip each other and donate to Big Cat Rescue. So, I see this as a kind of gateway to a much, much bigger thing that I want to do for the cats, and I could see any charity as kind of building their own metaverse where they attract people of like minds together.”

Part of the metaverse Baskin is planning includes the introduction of NFTs, alongside her coin. She confirmed that a range of cat NFTs will be released on May 26 on a platform that she couldn’t name just yet.

Baskin explained that she had even been discussing combining the NFTs with an airdrop of the coin depending on the price range they are bought at.

“I think that’s a great way to get more adoption of these kinds of coins and how you can actually use them for something that’s meaningful to you. I was up at four o’clock this morning because I was so excited I couldn’t sleep. All this I was going through my head, and I don’t know anything about coding, so I’m really dependent on everybody around me for that kind of guidance, but I’m so excited about the space, and I think every charity should be looking into this.”

Alongside helping her rescued cats, Baskin sees the combination of technology and her work as a way to bring about the change when it comes to big cat treatment.

For example, she is currently working on getting a bill passed in the U.S to stop cub petting and phase out private ownership of big cats. Baskin sees the expansion into crypto and technology as a way to reach the people who can help her achieve her cosnervation goals.

“I think there’s a lot of very smart people who can bring to fruition the kind of world I want to see, and I need them to know why it’s so important.”

Crypto, the environment, and cats

A significant part of Baskin’s vision is to build on technological innovations to improve the lives of big cats in the wild.

Through virtual reality, she is aiming for a world where people can come home, put on a VR headset, and be transported, through live cameras, into the habitats of big cats without disturbing them or causing them harm. This is part of a larger vision to increase interest and protection for these animals and their habitats.

However, she acknowledges a few issues relating to crypto and the environment that need to be addressed.

“I think there are a lot of things that need to be worked out as far as the cryptocurrencies, the main cryptocurrencies,  go because of the energy resources they require.”

“I’m thrilled to be working with Rally.io and this other company, it’s about the amount because they’re on a side chain, which is like 300 times more cost-effective than the current blockchain schemes are,” she explains.

“So by being so much cheaper I think it sets a model or creates a model for ways that we can make those other more energy hog things more energy-efficient,” she says.

The future of $CAT

The immediate positive response to the coin has been promising. Transactions continue at a steady pace, over a week after it was initially launched. Baskin’s plans for the coin means it is likely to continue to attract attention and interest beyond the current crypto hype wave.

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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After working in news and lifestyle journalism, Leila decided to bring her interest in cryptocurrencies and blockchain to her day job. She now runs the Features and Opinions desk at BeinCrypto which fits perfectly with her enthusiasm for crypto’s social and political impact.

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Source: https://beincrypto.com/carole-baskin-of-big-cat-rescue-talks-to-bic-on-cat-coin/

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Fork of Pancake Bunny on Polygon

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At first, all DeFi protocols were running on the Ethereum blockchain. Millions of transactions and hundreds of projects have overloaded the network, giving developers a difficult task for years. In a result more centralized, and therefore fast, Binance Smart Chain network arose and “add-ons” appeared on the Ethereum blockchain: layer 1 and layer 2 solutions, for example, Polygon (MATIC). 

A year ago, farmings, landing protocols and DEXs appeared on the Binance Smart Chain (BSC) network. The young and promising blockchain was attracting more and more liquidity. Then the Polygon (MATIC) network entered the scene.

Many protocols, especially farming, have switched to a new network, which is much more convenient and cheaper than the parent Ethereum and centralized BSC.

Everyone knows PancakeSwap and Pancake Bunny. Users of these services earn thousands of percent for yield farming on BSC. Over the year, network fees have grown and many are thinking about the Layer-2 solutions prospects. AAVE is one of such protocols.

TVL of this project reached $1 billion in ten days after the launch of the version of AAVE on Polygon. The popular DEX SushiSwap has also integrated the Polygon network along with many other blockchains.

QuickSwap DEX is an authentic project that focuses exclusively on Polygon. Another basic Polygon protocol is QuickDuck.finance, which works similarly to Pancake Bunny, but on a new network with instant transactions and less gas fees.

QuickDuck is the new Polygon Network Revenue Aggregator (MATIC). The project has implemented the best mechanisms of the largest farming protocols: Pancake Bunny, PancakeSwap, QuickSwap, Uniswap.

QuickDuck offers users the chance to earn thousands of percent of farming with compounding strategies in 100 QuickSwap pools. After Farming launch on May 12, 2021 between five and ten pools will be available, then their amount will gradually increase. Another great feature of the project is the complete lack of unsecured tokens in the model. The initial platform balances are created from the personal team funds.

QuickDuck’s unique tokenomics allow random farmers all extra profit from red-hot first pools. An honest financial model for farmers is lying under whole economic strategy:

  • No pre-sale: fair start
  • No pre-mine: only primary liquidity in LP and Airdrop
  • No deposit commissions *
  • No withdrawal commission *

* premine only for primary liquidity and AirDrop

*Early withdrawal commission of 0.5% is charged within 72 hours. It is a protective measure against liquidity outflow

For more information on QuickDuck visit quickduck.finance

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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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Source: https://beincrypto.com/fork-of-pancake-bunny-on-polygon/

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ILUS Coin Presale Announced

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Panama, May 10, 2021 – The public company ILUS International Inc., and Toto Capital announced that their native coin, ILUS, is currently in their presale. The ILUS coin is the world’s first recognized coin to contribute towards a safer and more sustainable world, while also providing incentives and upside to ILUS coin holders. 

The ILUS Group of Companies manufactures and distributes proprietary emergency response and life safety equipment and services worldwide.

The ILUS Token will enable the necessary equipment and services to be distributed to countries and organizations that need it most through revolutionary lease contracts. ILUS token holders will be able to govern and influence such decisions by being part of the ecosystem.

Nicolas Link, the founder and CEO of ILUS, said “When you buy ILUS Coins, you will play a vital role in enabling ILUS customers to save lives and assets. Not only would coin holders benefit from the substantial social responsibility fulfillment but there are significant financial rewards too by our staking mechanism.”

The presale of the ILUS coin can be purchased on the ILUS website, at a discounted rate of 23%. It is available on Trust Wallet, Coinbase, and Metamask. The presale will end on May 14, 2021 or when 10 million coins are sold.

ILUS will be listed to the public on UniSwap on May 17, 2021 at an increased listing price followed by two leading centralized exchanges within the next several months. There is a limited supply of 100 million tokens available for users to buy.

Benefits of the ILUS token:

  • Rewards: for a limited time, ILUS coin holders can earn as much as 15% interest on staking. After financing contracts, coins will be burned, increasing the scarcity and value. The public company will also pay a quarterly dividend to Toto Capital which will be distributed to the coin holders to buy back and burn coins depending on the coin holding community’s votes.
  • Giving back to the community: the primary intent behind ILUS is to provide the economy with a much needed product offering which in turn will save lives and provide a more sustainable world.
  • Governance: investing in ILUS coins will provide coin holders with the opportunity to influence and vote for certain proposals such as when to buy more equipment and where to utilize it. 

For more information on the ILUS Coin, visit https://ilus-coin.com

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Source: https://beincrypto.com/ilus-coin-presale-announced/

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