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Bitcoin is running at full speed now. Especially yesterday, in just 24 hours, the world’s largest cryptocurrency rose by nearly $ 1,500. How come things suddenly go so fast? And what is the ceiling of this run?submitted by jakkkmotivator to thecryptobasic [link] [comments]
You look at the daily chart below. Since May, bitcoin has been moving in an upward channel, between two upward trend lines. The price has scraped against the top of this channel in recent days, and a correction was therefore expected. It never came, on the contrary. Bitcoin shot through the top trendline with a lot of violence yesterday.
But the daily chart doesn’t give you the full picture. To understand why things are going so fast now, we look at the monthly chart. The last strong resistance was USD 13,853, the green line. This was the highest monthly closing price ever, the first red arrow. In 2019 it was not possible to break this level. You can see that by the second red arrow. And the third arrow indicates that bitcoin just failed to close the month above this resistance.
Final hurdle towards all-time high
Where is the next resistance for bitcoin? For this, we switch to the weekly chart. The next resistance can be found around 16,170 dollars, the lower green line on the graph. On the chart you can see that this price has been a significant resistance at the beginning of 2018. And above that? There we come very close to the highest value of bitcoin ever. So, around $ 16,000, bitcoin finds the last real resistance towards the top.
The market is overly optimistic.
But before we talk bitcoin towards $ 25,000, it is good to take a step back and look at the market sentiment. According to the Alternative’s Fear & Greed Index, there is extreme greed right now. This figure has not been this high since June 2019.
The Fear & Greed Index is an index between 0 and 100 and gives you information about the market sentiment. The figure is a weighted average of all kinds of factors in the market, such as volatility of the price, trading volume, sentiment on social media, and bitcoin’s market dominance.
Currently, the counter is at 90, which means that there is massive greed in the market. This is often a sign that the market needs to cool down a bit. Before we make another move up, the price must correct or move sideways for a while.
What can we expect from bitcoin?
Back to the daily bitcoin chart. The price is gaining momentum. All scenarios are still on the table. To prepare you for everything, we outline two scenarios: bullish (positive) and bearish (negative).
Will bitcoin take it one step further in the coming days? We find the first resistance at USD 16,170, which corresponds to the weekly closing price of January 2018. After that, USD 18,964 is in sight, the highest ever weekly closing price of bitcoin.
In recent days, bitcoin has risen sharply in value. A correction is, therefore, also a possible scenario. The first support is the top of the channel, around $ 14,600. If there is a massive correction, bitcoin can drop back to 12,000 dollars. As long as the price finds support at the bottom of the rising channel, the upward trend will remain intact.
For us who use Decentralized Finance (DeFi) as a common term, we know it represents an enormous shift in how we transact with one another: borrowing money, exchanging currencies, how we view insurance, etc. While total assets involved in DeFi still seem to be increasing right now, there are various factors that will prevent us from growing further.submitted by BondlyFinance to u/BondlyFinance [link] [comments]
DeFi’s largest barriers for adoption
Interoperability — Right now Ethereum gas fees seem like they are always increasing and ETH 2.0 may still be 6 months or more away. We need the ability to make DeFi more accessible to individuals who can’t afford high gas prices per transaction and start including native blockchain assets that are stranded on other platforms.
Trust — Unfortunately our biggest issue is still trust. While none of us in crypto expect to know the identity of the other party, many of us just send funds to people we don’t know for vague promises of more wealth. In fact, the biggest type of fraud is still the “giveaway scam” which asks offer to send something back — but its only an offer, there is no guarantee. This is totally unsustainable.
What about doing business outside of crypto?
Ultimately, DeFi doesn’t keep going unless we create methods for non-crypto native businesses to integrate. While the community might approve sending crypto to each other without a safety in place, this will never work for 99% of online marketplaces.
So we need:
Bondly is a brainchild of over 3 years of working in fintech digital escrow payments + love for native DeFi. Adding our cumulative 13 years of traditional financial services, 6 years of eCommerce marketing, 4 years of Ethereum blockchain development, we think this will be one of the most important next steps in DeFi.
What is Bondly?Bondly is a trusted, transparent and portable swap protocol designed to make you into a marketplace.
Our family of trust-enabling, DeFi products are designed to be a part of your everyday buying and selling activities, giving you piece of mind for your next swap or online purchase.
BONDSWAP (BSWAP)Similar to Binance OTC Trading Portal but directly on-chain and can be sent via any chat app using different blockchains
Wallet to Wallet trustless Over the Counter (OTC) trades that are performed by signing a smart contract. Completely portable smart link can be sent via a chat app or on your favorite social media. It will first support all ERC-20 tokens and NFT (Ethereum) then eventually
With BSWAP you can:
BOND DEXSimilar to Mooniswap but includes rewards token provided to Liquidity Providers on top of fee share
Interoperable Decentralized Exchange (DEX) thats easy to use and blockchain agnostic. Requires liquidity provider (LP) participants to pool assets for a portion of transaction fees along with rewards APY rewards. Our pricing engine will compare major cross chain swap options and will let you know the best one to use (even if its not us). Validation is done directly within your Web3 browser (with Metamask) or polkadot.js based Native Wallet.
With BOND DEX you can:
BOND PROTECT (BPROTECT)Similar to Paypal/AliPay Express Buyer Protection combined with Escrow.com with a simple UX like Zapper.fi or Zircon
This is our most revolutionary product that we feel will have the largest impact to the eCommerce market.
PROTECT is decentralized escrow and buyer protection for customers of crypto friendly marketplaces.
How does BOND PROTECT work?For individual OTC Trades:
Bonding with PolkadotAs our ‘sibling’ projects Darwinia and Bifrost have realized, Polkadot and using Substrate represents a phenomenal step forward in interoperability.
In a future article we will talk more about our Kusama testnet release.
Whats next for BONDLY?BONDSWAP for Ethereum, the first formal product release, will be available soon (so hold off on your OTC transaction until then). This will include support for the Bondly staking program. Detailed roadmaps for the other products will be announced soon!
In the meantime we will be making additional articles (but not limited to) the following topics:
Can the early success of major crypto exchanges propel them to winning the broader consumer finance market?submitted by mickhagen to genesisblockhq [link] [comments]
This is the first part of Crypto Banking Wars — a new series that examines what crypto-native company is most likely to become the bank of the future. Who is best positioned to reach mainstream adoption in consumer finance?
While crypto allows the world to get rid of banks, a bank will still very much be necessary for this powerful technology to reach the masses. We believe a crypto-native company, like Genesis Block, will become the bank of the future.
In an earlier series, Crypto-Powered, we laid out arguments for why crypto-native companies have a huge edge in the market. When you consider both the broad spectrum of financial use-cases and the enormous value unlocked through these DeFi protocols, you can see just how big of an unfair advantage blockchain tech becomes for companies who truly understand and leverage it. Traditional banks and fintech unicorns simply won’t be able to keep up.
The power players of consumer finance in the 21st century will be crypto-native companies who build with blockchain technology at their core.The crypto landscape is still nascent. We’re still very much in the fragmented, unbundled phase of the industry lifecycle. Beyond what Genesis Block is doing, there are signs of other companies slowly starting to bundle financial services into what could be an all-in-one bank replacement.
So the key question that this series hopes to answer:
Which crypto-native company will successfully become the bank of the future?We obviously think Genesis Block is well-positioned to win. But we certainly aren’t the only game in town. In this series, we’ll be doing an analysis of who is most capable of thwarting our efforts. We’ll look at categories like crypto exchanges, crypto wallets, centralized lending & borrowing services, and crypto debit card companies. Each category will have its own dedicated post.
Today we’re analyzing big crypto exchanges. The two companies we’ll focus on today are Coinbase (biggest American exchange) and Binance (biggest global exchange). They are the top two exchanges in terms of Bitcoin trading volume. They are in pole position to winning this market — they have a huge existing userbase and strong financial resources.
Will Coinbase or Binance become the bank of the future? Can their early success propel them to winning the broader consumer finance market? Is their growth too far ahead for anyone else to catch up? Let’s dive in.
BinanceThe most formidable exchange on the global stage is Binance (Crunchbase). All signs suggest they have significantly more users and a stronger balance sheet than Coinbase. No other exchange is executing as aggressively and relentlessly as Binance is. The cadence at which they are shipping and launching new products is nothing short of impressive. As Tushar Jain from Multicoin argues, Binance is Blitzscaling.
Here are some of the products that they’ve launched in the last 18 months. Only a few are announced but still pre-launch.
Can they create a cohesive & united product experience?
Binance WeaknessesBinance is strong, but they do have a few major weaknesses that could slow them down.
Binance Wrap UpI don’t believe Binance is likely to succeed with a homegrown product aimed at the consumer finance market. Their current product — which is focused heavily on professional traders and speculators — is unlikely to become the bank of the future. If they wanted to enter the broader consumer market, I believe it’s much more likely that they will acquire a company that is getting early traction. They are not afraid to make acquisitions (Trust, JEX, WazirX, DappReview, BxB, CoinMarketCap, Swipe).
However, never count CZ out. He is a hustler. Binance is executing so aggressively and relentlessly that they will always be on the shortlist of major contenders.
CoinbaseThe crypto-native company that I believe is more likely to become the bank of the future is Coinbase (crunchbase). Their dominance in America could serve as a springboard to winning the West (Binance has a stronger foothold in Asia). Coinbase has more than 30M users. Their exchange business is a money-printing machine. They have a solid reputation as it relates to compliance and working with regulators. Their CEO is a longtime member of the crypto community. They are rumored to be going public soon.
Coinbase StrengthsLet’s look at what makes them strong and a likely contender for winning the broader consumer finance market.
Coinbase WeaknessesLet’s now look at some things that could hold them back.
Coinbase Wrap UpAt Genesis Block, we‘re proud to be working with Coinbase. They are a fantastic company. However, I don’t believe that they’ll succeed in building their own product for the broader consumer finance market. While they have incredible design, there are no signs that they are focused on or capable of internally building this type of product.
Similar to Binance, I think it’s far more likely that Coinbase acquires a promising young startup with strong growth.
Honorable MentionsOther US-based exchanges worth mentioning are Kraken, Gemini, and Bittrex. So far we’ve seen very few signs that any of them will aggressively attack broader consumer finance. Most are going in the way of Binance — listing more assets and adding more pro tools like margin and futures trading. And many, like Coinbase, are trying to attract more institutional customers. For example, Gemini with their custody product.
Wrap UpCoinbase and Binance have huge war chests and massive reach. For that alone, they should always be considered threats to Genesis Block. However, their products are very, very different than the product we’re building. And their approach is very different as well. They are trying to educate and onboard people into crypto. At Genesis Block, we believe the masses shouldn’t need to know or care about it. We did an entire series about this, Spreading Crypto.
Most everyone needs banking — whether it be to borrow, spend, invest, earn interest, etc. Not everyone needs a crypto exchange. For non-crypto consumers (the mass market), the differences between a bank and a crypto exchange are immense. Companies like Binance and Coinbase make a lot of money on their crypto exchange business. It would be really difficult, gutsy, and risky for any of them to completely change their narrative, messaging, and product to focus on the broader consumer market. I don’t believe they would ever risk biting the hand that feeds them.
In summary, as it relates to a digital bank aimed at the mass market, I believe both Coinbase and Binance are much more likely to acquire a startup in this space than they are to build it themselves. And I think they would want to keep the brand/product distinct and separate from their core crypto exchange business.
So back to the original question, is Coinbase and Binance a threat to Genesis Block? Not really. Not today. But they could be, and for that, we want to stay close to them.
Other Ways to Consume Today's Episode:
Download the app. We're a digital bank that's powered by crypto: https://genesisblock.com/download
vipmex.comsubmitted by VipMex to u/VipMex [link] [comments]
A new trading platform called VipMex has entered the market, allowing users to invest in cryptos and futures contracts with ease.
About the Company
Hong Kong-based VipMex is a company specialized in providing all-inclusive financial investment options and management for crypto assets and futures.
The team behind VipMex is made up of many highly educated professionals with a background in various advanced technologies. Their main goal is to develop accessible futures and cryptocurrency options by establishing a secure investing environment which can be navigated by clients of all levels of experience.
This cryptocurrency exchange relies on a powerful trading system that serves as the basis of a comprehensive and strong trading environment. VipMex focuses on providing low cost and easy to use crypto investment alternatives that can be accessible to all users.
VipMex Risk Strategy
The VipMex exchange was built on providing exposure to cryptocurrency markets for all kinds of investors at competitive and low rates.
Usually, when the clients have opposing positions, let’s say one Bitcoin contract is long and the other Bitcoin contract short, both sides of the trade are covered, with the exchange making its profits from the fees of the trades.
If most clients trade in the same position, VipMex will hedge in the underlying market or derivates markets, meaning they might actually buy Bitcoin or long Bitcoin futures if the majority of clients take long positions on Bitcoin contracts. This allows the platform to pay out all its clients if their positions turn out to be correct.
In case of unforeseen market developments, the exchange will store a certain percentage of its profit in a Risk Reserve Fund to always pay out the revenues of their clients.
USDT Base Currency
On the VipMex crypto exchange, the Tether (USDT) stablecoin is used as the base currency, meaning that the exchange rates of the other digital assets are generally quoted against Tether. USDT is the most popular and used stablecoin in the crypto market, having its value pegged to that of the US dollar. The coin recently surpassed XRP and became the world’s third-largest crypto according to a market cap of $8.805.483.772. USDT is also the most traded crypto based on its 24-hour volume, surpassing even Bitcoin.
With the occasion of platform launch, VipMex is giving 346 USDT to users who register on the crypto exchange and perform trading activities.
Fees and Discount Bonus
VipMex users can withdraw USDT from their account without having to pay any fees. A one-time transaction fee which is 0.05% becoming the best cost-effective comparing with Binance, Huobi, SnapEx, OKEX etc. for each position opened.
The crypto exchange offers zero spread accounts, which have no difference between the bid and ask price. This allows traders to know their entry and exit levels when they open a position.
There are no slippage costs (the difference between the projected price of a trade and the price at which the trade is completed) and no clawback (take back money as a form of taxation).
Moreover, VipMex also introduced a system where users can gather bonus for missions or trading and then use these bonus to deduct their margin.
VipMex supports the trading of multiple digital assets and commodities from one single account. This means that users do not have to go and create multiple accounts to hold and manage different cryptos or futures. All trading can be done from one account, simplifying matters for investors who want a diverse trading portfolio.
In addition to cryptocurrencies, users can also trade using fiat by making deposits on the platform’s Over The Counter exchange. This way, those who are new to crypto and do not yet own the assets can still invest by using their fiat funds.
Up to 500x Leverage
VipMex users can engage in margin trading and leverage anywhere from 10x to 500x. While margin trading is riskier compared to other types of trades, it can bring higher rewards.
The trading platform incorporates a unique “close all” function. Also, in order to protect clients’ profitability and hedge against risk exposure, in certain extreme market conditions, VIPMEX might temporarily prevent clients from opening new positions in a single direction until it is safe to open trades on that position again.
Accurate Price Listing
VipMex displays its crypto prices by using a K-line weighted average based on the data sourced from 3 of the biggest crypto exchanges on the market, namely Binance (30%), OKEx (40%), and Huobi (30%). This is done in order to feature cryptocurrency prices in the most accurate way. Binance is the world’s first crypto exchange in terms of 24-hour trading volume, while OKEx is sixth.
VipMex is ready to help investors find easy crypto trading solutions, as well as futures contract options, and help them get the best profits by adopting risk-mitigating strategies.
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Bitcoin Ticker - Tick by tick, real time updates. All data is indicative. Options Last Updated: seconds : Time between graph updates : ms: Play sound on each trade . Round Bids/Asks to 0.500 . Animate Depth Movements . Highlight BTC bids/asks above : Alert if price falls below: Alert if price climbs above: Alert if price change +/- : Sound Alert . Desktop Alert . Show Personalized Content ... Earlier yesterday, the team at Binance announced that they had opened an Over-the-Counter (OTC) trading desk to provide additional liquidity for their high-volume users. The tweet making the announcement also referenced the recently concluded Binance blockchain event in Singapore that ran from the 19th to the 22nd of this month. "#Binance has launched an crypto OTC desk providing additional ... Today, Binance- the world-leading crypto exchange posted on its official twitter handle about the exciting countdown for the Bitcoin Halving. As per the post, there are two hundred nineteen days left for the next Bitcoin Halving event. The Bitcoin Halving will take place on the Block Number- 630,000. Ideally, it should reach this bock number by May 24, in the coming year. The last observed ... Binance is happy to announce the launch of our crypto-to-crypto over-the-counter (OTC) trading desk. Our OTC desk allows Binance users to trade larger amounts of many cryptocurrencies listed on the exchange, with transactions being settled via their Binance accounts. Binance’s United States arm has launched an over-the-counter portal for trades worth $10,000 or more, according to an official announcement on Monday. OTC desk and Binance.US’s requirements OTC trades are negotiated directly between the buyer and the seller and do not show up in exchange’s public order books, the cryptocurrency platform clarified in an FAQ. It is facilitated with a combination of over-the-counter trades, off-platform swaps, and illegal over-the-counter cryptocurrency brokers that are tied to terrorism and arms dealings. Bitcoin Is Property. All cryptocurrencies are property, and are subject to law as property. When you purchase coins (bitcoin) from Binance, and it is mixed with the criminal funds that have flowed through the same ... PayPal akzeptiert Bitcoin: Warum jetzt sehr viel auf dem Spiel steht; Bitcoin-Gebühren in 13 Tagen um 628 Prozent gestiegen; Abverkauf bei Ethereum, Iota und Ripple lässt Kursphantasien vorerst platzen ; Jetzt handeln: Plus500. Schnelleinstieg für den Handel von Krypto CFDs. Kryptowährungen handeln bei einem der führenden Anbieter für Krypto CFDs. Bitcoin $ 13,787.75 0.47%. Ethereum ... Laut Chainalysis lagen im Jahr 2019 auf etwas mehr als 300.000 Einzelkonten bei Binance und Huobi Bitcoin aus kriminellen Quellen. Der Großteil der Beträge, nämlich 75 Prozent, verteilt sich ... Trade over 40 cryptocurrencies and enjoy the lowest trading fees in America. Die Bitcoin-Börse Binance hat den Start einer OTC-Plattform bekannt gegeben. Der US-Ableger der weltweit größten Bitcoin–Börse Binance hat ein Over-the-Counter-Portal für Handelsabwicklungen in Höhe von 10.000 US-Dollar oder mehr eingerichtet. Der offiziellen Ankündigung zufolge werden die OTC-Geschäfte direkt zwischen Käufern und Verkäufern ausgehandelt, ohne dabei in den ...
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