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When it comes to crypto, billionaire investor and Shark Tank host Mark Cuban said ethereum might be the best bet.

"As an investment, I think ethereum has the most upside," Cuban told CNBC Wednesday. So far this year, ethereum has multiplied its price five times, and is now worth $3,751.57, according to data from Coinmarketcap.

Cuban said he wished he had bought ethereum sooner because it's the closest thing "to a true currency," he said.

Ethereum uses code stored on blockchain called smart contracts, which enable two parties to exchange money without needing a middleman. Because these contracts have multiple use cases, like NFTs and DeFi, they have changed the crypto space, Cuban said in the CNBC report.

But they are also ripe for fraud, he said last month, and need regulation such as proof of identity.

As for other cryptocurrencies, Cuban, who also owns the Dallas Mavericks, recommended investing in dogecoin for "fun" and for educational purposes, CNBC reported.

On Twitter in May, Cuban revealed he bought 3,250 dogecoins with his 11-year-old son. He also gets dogecoins from Maverick tickets and merchandise sales.

The billionaire investor has said previously the meme-inspired altcoin has the best use-case for buying goods and services because it is mined on a fixed schedule. Bitcoin, however, is more akin to gold because it's an appreciable asset, so people don't use it to purchase items, he's said.

Bitcoin has been surging this past week and is nearing its record of $65,000. It rose 5% to $57,494.38 early Thursday, according to Coinbase data.

Read the original article on Business Insider

Active user participation in Polygon explodes, giving positive cues to its native cryptocurrency MATIC.

Polygon’s count of unique daily addresses active either as sender or receiver rose to a record high of 566,516 on Saturday, surpassing Ethereum for the first time, according to data provided by polygonscan. Ethereum’s tally stood at 527,158 on Oct. 2.The number of active addresses on Polygon has grown by 168% in the past 30 days, while Ethereum’s count has gone up by a meager 0.6%, data from etherscan shows.Non-fungible tokens (NFT) adoption and gaming have fueled the growth in Polygon’s user base, according to Spencer Noon, an investor in Variant, a cryptocurrency venture capital fund.“Since July, traders on Polygon OpenSea [the NFT marketplace] have multiplied 45.5x, and NFTs sold by 17.5x,” Spencer said in the Network report published Oct. 2.“Second, gaming is taking off. Arc8 is one example, achieving 104K DAU [daily active users] days after launch,” Spencer added.Increased network usage often translates into higher demand for the native token and an increase in its price, Chainalysis’s Philip Gradwell told CoinDesk.However, the spike in active addresses has yet to give Polygon’s MATIC token a meaningful lift. While the token has risen 12% to $1.27 in the first four days of October, it is still down considerably from September’s high of $1.80.Polygon facilitates faster and cheaper transactions by running sidechains, or tangential networks, alongside the main Ethereum blockchain.Subscribe to Crypto Long & Short, our weekly newsletter on investing.

When J.R. Willett unveiled “The Second Bitcoin White Paper” – the first whitepaper that introduced the concept of initial coin offering (ICO) in January 2012, none really paid any attention to the document. It was not until 2017, where the little crazy idea of the Seattle-based software developer will give birth to the ICO craze that took the world by surprise with its outstanding crowdfunding performance.

However, the ICO trend had spiraled out of control by hype and became a speculative bubble that popped in mid-December 2017. While the marvelous achievement of ICO was short-lived, its fundamental concept has become the backbone of the crypto financing environment. From the genius of ICO, three prominent crypto fund raising mechanisms were born – STO, IEO and IDO.

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The SEC-approved benefit of Security Token Offering, STO, makes it attractive for projects to launch an ICO without legal ramification. By having a cryptocurrency exchange to conduct research on the projects, Initial Exchange Offering, IEO, gained traction and interest of retail investors as a safer alternative. Meanwhile, Initial DEX Offering, IDO, is a new concept born out of the recent DeFi craze where anyone can launch a token through a decentralized exchange with the advantages of instant liquidity, instant trading and cheaper listing cost. 

Recently, a new type of offering called Initial NFT Offering, INO, is gathering more interest among crypto retailers. This comes after the innovation of non-fungible tokens (NFT) that received support from big companies like NBA and Capcom as well as well-known entrepreneurs like Jack Dorsey of Twitter and Gary Vaynerchuk of VaynerX. 

However, the innovation of crypto crowdfunding does not stop here. A crypto project called Torum has created a modified version of INO with DeFi-infused elements for its upcoming public sale and named it Initial Staking NFT Offering, ISNO.

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Initial Staking NFT Offering, or ISNO is a new crypto funding innovation that involves offering a set of limited edition stake-able NFTs for sale. 

Unique from the other conventional INOs, the digital artworks received from ISNO can be staked to unlock a set of rewards or benefits in a project ecosystem. Aside from the inherent supply scarcity, the perks of holding the stake-able NFT can take place in many forms, including an autographed physical artwork from the original creator, an integrated equipment in a gaming platform or even the farming reward multiplier that is proposed by Torum.

In the era of utility innovation, the crypto industry is constantly looking for meaningful use cases to speed up the crypto adoption pace, including NFT. And, ISNO might just be the answer to that.

Torum is a social media platform that is specially designed for worldwide cryptocurrency users. Using social media as a foundation, the project is now expanding its ecosystem to the DeFi and NFT spaces. 

The new ecosystem will include Torum NFT Marketplace that integrates XTM, the native token of Torum and Torum Finance, a DeFi platform that will be used to organize the ISNO event.

Yi Feng Go, CEO of Torum says:

“As I was researching DeFi and NFT, I couldn’t help but think that there must be some creative ways to incorporate the both of them. Then, the public sale idea hit me like a truck.”

The Torum’s ISNO event will take place at 9 p.m. on the 10th of May with a total of 363 limited edition NFTs up for sale.

Organized on Torum Finance, there will be 5 different NFT tiers available for purchase, starting from $200 to $16,200. The digital artwork of each tier represents the 5 ecosystem eras of Torum, namely Genesis, Exorsus, Crescentia, Maturitas and Concordia.

Released in 5 different prices, the NFTs issued under ISNO can each be burned to unlock a specific amount of XTM locked in the token and comes with a permanent staking multiplier ranging from 1.05x to 1.25x. With only 363 digital artworks up for grabs, the success of Torum’s ISNO event will once again spur a new wave of blockchain innovations.

Torum is the first DeFi and NFT-infused social media platform that is specially designed for cryptocurrency users. Backed by over 18 prominent strategic investors like AU21, Consensus Lab, DFG, Waterdrip Capital and Redline Capital, Torum is now one of the fastest-growing social media platforms joined by over 38,000 crypto enthusiasts from every corner of the world.

In future, Torum strives to become the largest crypto ecosystem that connects the general public to the crypto space.

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Bitcoin’s price has risen over 40% this month, reaching a new record of $66,879 on expectations the recently listed ProShares exchange-traded fund (ETF) tied to the cryptocurrency’s futures would bring more mainstream money into the market.

Such a steep ascent often has investors assessing whether the party is coming to a close, especially when popular technical indicators like the relative strength index (RSI) signal overbought conditions, as with bitcoin.

However, blockchain metrics like the market value-to-realized value (MVRV) Z-score and a lesser-known chart-based indicator, Mayer Multiple, suggest the bull run has plenty of steam left.

The MVRV Z-score that measures the deviation of market value from realized value and is used to assess undervalued and overvalued conditions, has doubled to 3.91 this month. However, the value is nowhere close to the red zone above 5.00 that has historically marked the final leg of a bull market.

The market value represents the total network value of the cryptocurrency and is calculated by multiplying the total circulating supply by the last traded price. Meanwhile, the realized value is calculated by valuing each coin at the price it was last moved.

Although bitcoin market valuations may not be cheap, they do not appear to be overstretched either, with there being a scope for an extension of the price rally.

“When market value is significantly higher than realized value, it has historically indicated a market top (red zone), while the opposite has indicated market bottoms (green zone),” blockchain analytics firm Glassnode said in the MVRV Z-score explainer.

The Mayer Multiple, which measures the spread between bitcoin’s price and the 200-day moving average (MA), also shows the bull market is still far from peaking. While the metric has risen to a five-month high of 1.39, it is well below the 2.4 threshold, above which previous bull markets peaked.

Both indicators back up analysts’ expectations of a continued price rally toward $100,000 in the coming months. That said, it may not be a smooth ride, and the cryptocurrency may see price pullbacks depending on the degree of leverage in the market.

The cryptocurrency remains vulnerable to macro risks and potential risk-off in traditional markets.

According to Reuters, there is a growing view in the market that the U.S. Federal Reserve may soon feel compelled to scale back stimulus more aggressively to contain inflation. “U.S. traders are now pricing a full rate hike into the Fed’s September policy meeting next year. But by that time, New Zealand’s central bank would have hiked five times, Canada’s three times and England’s four times,” a Bloomberg report said.

Should the market start pricing more aggressive Fed rate hike bets, risk assets, including bitcoin, may face some selling pressure.

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Bitcoin has risen over 40% this month, reaching a new record price of $66,879 on expectations that the recently listed ProShares exchange-traded fund (ETF) tied to the cryptocurrency’s futures would bring more mainstream money into the market.

Such a steep ascent often has investors assessing whether the party is coming to a close, especially when popular technical indicators like the relative strength index (RSI) signal overbought conditions, as with bitcoin.

However, blockchain metrics like the market value-to-realized value (MVRV) Z-score and a lesser-known chart-based indicator, Mayer Multiple, suggest the bull run has plenty of steam left.

The MVRV Z-score that measures the deviation of market value from realized value and is used to assess undervalued and overvalued conditions, has doubled to 3.91 this month. However, the value is nowhere close to the red zone above 5.00 that has historically marked the final leg of a bull market.

The market value represents the total network value of the cryptocurrency and is calculated by multiplying the total circulating supply by the last traded price. Meanwhile, the realized value is calculated by valuing each coin at the price it was last moved.

Although bitcoin market valuations may not be cheap, they do not appear to be overstretched either, with there being a scope for an extension of the price rally.

“When market value is significantly higher than realized value, it has historically indicated a market top (red zone), while the opposite has indicated market bottoms (green zone),” blockchain analytics firm Glassnode said in the MVRV Z-score explainer.

The Mayer Multiple, which measures the spread between bitcoin’s price and the 200-day moving average (MA), also shows the bull market is still far from peaking. While the metric has risen to a five-month high of 1.39, it is well below the 2.4 threshold, above which previous bull markets peaked.

Both indicators back up analysts’ expectations of a continued price rally toward $100,000 in the coming months. That said, it may not be a smooth ride, and the cryptocurrency may see price pullbacks depending on the degree of leverage in the market.

The cryptocurrency remains vulnerable to macro risks and potential risk-off in traditional markets.

According to Reuters, there is a growing view in the market that the U.S. Federal Reserve may soon feel compelled to scale back stimulus more aggressively to contain inflation. “U.S. traders are now pricing a full rate hike into the Fed’s September policy meeting next year. But by that time, New Zealand’s central bank would have hiked five times, Canada’s three times and England’s four times,” a Bloomberg report said.

Should the market start pricing more aggressive Fed rate hike bets, risk assets, including bitcoin, may face some selling pressure.

As the popular yet struggling meme cryptocurrency Dogecoin tries to extricate itself from its price woes, analysts see a massive breakout amidst the reported 70 percent of DOGE wallets turning into profitability.

Dogecoin has plummeted 2.45 percent in the last 24 hours to $0.24 on Thursday, as per Coindesk.

Dogecoin Price Preiction: DOGE Remains Premier Meme Cryptocurrency

Even with its ordeals, DOGE remains among the top cryptocurrencies and is in fact among the Top 10, according to CoinGecko (via FX Street). Dogecoin spin-offs, such as Shiba Inu, FLOKI, Baby Shib and WifeDoge, have multiplied over recent months, but they have yet to depose DOGE as the premier memecoin in terms of on-chain activity and market capitalization.

Dogecoin currently has a market capitalization of $32.29 billion, Coindesk noted.

It is worth emphasizing that Ethereum founder Vitalik Buterin has sold $1.8 million in dog-focused tokens. Buterin, who sits in the Board of Advisors in the Dogecoin Foundation, has not sold DOGE or SHIB in his decentralized trades.

Shiba Inu might have been widely regarded as the "Dogcoin Killer," but it also plummeted as it continues its precarious hold on to its slot in the top 15 list of cryptocurrencies.

Read Also: Dogecoin Price Prediction: Ethereum Co-Founder Reveals Next Step for Doge Evolution, Global Impact

Dogecoin investors are eagerly anticipating the launch of DOGE wallets on the Robinhood financial services app. This would further boost the meme crytocurrency's use cases and widen its adoption, experts noted.

FXStreet quoted the YouTuber and cryptocurrency analyst Alen as setting the bullish goal of $0.48 by the end of the year, saying there is a "good chance of getting 5,000 to 10,000 for Ethereum."

The report also noted a bullish outlook from the cryptoanalyst and Twitter user @CryptoWarrior01, who emphasized DOGE's support/resistance flip. The analyst forecasted bullish sentiment to increase as it reaches over $0.25.

Massive Dogecoin Breakout Seen

FX Street underscored that this massive breakout is ongoing after analysts studied the behavior of Dogecoin prices.

Dogecoin value increased by nearly 15 percent on Monday, beating other cryptocurrencies. While half of that increase has been retraced, bulls have showed resilience in keeping that stable $0.25 range, FX Street shared in a separate post.

According to FXStreet, Dogecoin price has the strongest multi-point setups on the $0.0005/3-box reversal Point and Figure chart, or what is called as the Triple Top. This would lead to a prediction for Dogecoin price to reach a 58-percent increase, and hit $0.37 in the coming weeks.

Dogecoin price faces two primary resistance levels to keep its current momentum. One is the weekly Tenkan-Sen or Conversion Line (indicating the mid-point of the highest and lowest prices of the token over the last nine periods) and the 61.8 percent Fibonacci retracement at $0.26. The other resistance level is the Senkou Span B, or the top of the Daily Ichimoku Cloud at $0.27, according to FX Street.

Traders are continuing to observe Dogecoin price as it moves daily. If bears have their way and close Dogecoin before the daily Cloud, then bullish sentiment will wane. Among the critical areas to watch is a possible further drop of Dogecoin to $0.23, which could further extend the woes of the meme cryptocurrency.

Related Article: Mark Cuban Gives Dogecoin Price a Boost: Why Is Doge Better Than Bitcoin?

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Decentology, a fast-growing blockchain startup, announced its plans to build the Hyperverse, an open, blockchain-agnostic, decentralized, marketplace for composable smart contracts, after raising $4.3 million in seed funding. The company is backed by top crypto investors including Dapper Labs, Borderless Capital, Good News Ventures, Berezka DAO, Synaps, Animal Ventures, and Kosmos Capital.

In addition, Decentology announced its plans for transitioning to a Decentralized Autonomous Organization (DAO) that will use a community governance model to manage the future growth and development of the Hyperverse.

“We have a bold vision to expand our innovative solutions for smart contract development, discoverability, monetization and security with the Hyperverse as we onboard the next 10 million Web 2.0 developers to Web 3.0 with the support of our community,” said Nik Kalyani, Decentology co-founder and CEO.

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The Hyperverse uses “composability,” which makes it possible for smart contracts already deployed to a blockchain to interact with each other. Decentology has built a standard set of interfaces that enable developers to easily compose new applications by connecting existing “smart modules” which are single-purpose smart contracts. This makes decentralized app development simpler, faster, and cost-effective.

“We’ve long believed composability between dapps will be the multiplier effect for innovation to compound at a rate never seen before. It’s very exciting to see amazing applications on Flow like the Hyperverse bring a new wave of mainstream developers into our space through a new incentive model,” said Mickey Maher, SVP of Partnerships at Dapper Labs.

Additionally, the Hyperverse introduces an innovative, per transaction monetization model for developers, similar to the models used by cloud providers such as Microsoft Azure and Amazon AWS.

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“Decentology’s novel method of introducing monetization for developers of decentralized apps we believe is a game changer for the adoption of blockchain and have the conviction that they are poised to win,” said Marat Mukhamedyarov, Founding Partner at Good News Ventures.

The marketplace will also leverage skilled auditors from the Decentology community to audit “smart modules” indicating their confidence in the module’s security by staking tokens.

“Staking by auditors to communicate trust in Open Source code is a new approach to security,” Kalyani said. “It adds an insurance layer that signals which modules can be trusted by customers.”

“Composability of smart contract features along with decentralized security auditing is the next frontier of blockchain development. We are excited to welcome the Hyperverse platform to the Algorand ecosystem,” said David Garcia, CEO and Managing Partner of Borderless Capital.

Decentology has already developed the Hyperverse architecture in collaboration with its community. It plans to use the seed capital to add Flow, Algorand and Ethereum blockchains to the Hyperverse. Additional chains will be added following a future token sale.

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A battle of smart contract blockchains played out in cryptocurrency markets this month as upstarts Avalanche and Solana posted double-digit returns, while the dominant Ethereum network’s ether (ETH) token suffered steep losses.

Avalanche’s AVAX token jumped 52% during the month, the top performance among digital assets with a market capitalization of at least $10 billion tracked by data firm Messari. Solana, championed by Sam Bankman-Fried, CEO of the FTX cryptocurrency exchange, saw its SOL token gain 23%. Terra’s LUNA token rose 7.5%.

Such gains came as ether lost 23% during the month. Bitcoin, the largest cryptocurrency by market value, whose network isn’t considered a smart contract blockchain, slid 12% in September.

Smart contracts are taking center stage while there’s speculation over which network will play host to the fast-growing businesses that developers are building on these blockchains, from decentralized finance to non-fungible tokens (NFTs).

Increasing activity on these chains and surging fees, or “gas prices,” on Ethereum might be eroding the sector leader’s dominance, according to a report from Ryan Watkins, a research analyst at Messari.

“Unsurprisingly, speculators are piling into these platforms’ corresponding tokens as Ethereum’s dominance gets thrown into question,” Watkins said.

Traders’ recent preference for Ethereum competitors contrasts with the situation earlier this year, when the dominant network’s fast growth riveted investors, and ETH staged a rapid rally. Its market share has risen rapidly and now accounts for 26% of investment products, compared with 11% in January, said James Butterfill, an investment strategist at CoinShares.

Ether’s price is still up nearly fourfold this year, versus a 46% for bitcoin. But Avalanche’s AVAX has jumped 20-fold this year, for a market capitalization of $14 billion. And SOL has multiplied 74-fold, to $41 billion.

“Investors really liked the world computer idea of Ethereum,” Butterfill said. “But due to price rises it has revealed an inefficient network and high gas fees.” This is why there’s a spillover of interest into rival networks, particularly ones that don’t have high transaction costs, he added.

Below the $10 billion threshold, smart contract blockchains also outperformed in September. Algorand’s ALGO token jumped 38%, and Cosmos’s ATOM was up 35%. Tezos (XTZ) rose 10%.

Ironically, Cardano, which implemented its long-awaited smart contract functionality earlier this month, was one of the biggest losers. The blockchain, whose development is led by a former Ethereum developer Charles Hoskinson, saw its ADA token plunge 28%.

Analysts have said that Cardano’s downturn might be a case of buy the rumor, sell the fact, because speculators had bid up the price in anticipation of the upgrade.

Some of the gains were perhaps driven by the rollout of incentive programs, including rewards for users – sometimes akin to free money for those willing to take the time – as well as grants for coders to build or advance new applications. On Sept. 16, Avalanche completed a $230 million private sale of AVAX tokens to crypto funds. Alogrand launched a $300 million fund to support decentralized finance (DeFi) innovation.

“Blockchains are competing to attract talent,” said Denis Vinokourov, head of research at Synergia Capital. “One of the easiest ways to incentivize software developers to build on one chain versus the other is to help with funding,”

Martin Gaspar, a research analyst at CrossTower, attributed the surge to “rising investor optimism on smart contract chains (AVAX and ALGO),” in an email to CoinDesk.

Without developers, according to Vinokourov, there won’t be new projects or new prospective users. Developers are particularly scarce at the moment, he said, and so those incentives are being pushed.

“It goes to show that there is a lot of money sitting on the sidelines,” Vinokourov said.

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Prepare for the "doge" days of fall as dogecoin's dog days of summer fade in the rearview mirror.

Dogecoin, a cryptocurrency created as a joke in 2013, has made serious gains in 2021. It's up 20% in October and nearly 5,200% this year as momentum builds for digital tokens, despite the fact that not even its creator, Billy Markus, believes in the "meme coin."

That hasn't stopped an army of small-time retail investors from rallying behind the Shiba Inu-inspired token and knockoffs, including none other than the shiba inu coin. Their mission to send doge from $0.25 to $1 will succeed, David Gokhshtein, a longtime crypto bull and the CEO of PAC Global, said.

"I firmly believe it will go to a dollar," Gokhshtein told Insider in a recent interview. "You have Vitalik, who's on dogecoin's foundation now. If ethereum helps out with building or correcting something within doge's ecosystem, there's no limit. It just doesn't stay at a dollar — it goes further."

Dogecoin can rise twelvefold to hit $3, Gokhshtein said, but only if it gains more real-world utility. The coin can facilitate online transactions, though most people who buy the token are speculators simply hoping to flip it for a quick buck. 

Rival tokens have more promising use cases, powered by automated "smart contracts" that proponents say can execute a wide variety of tasks, from protecting medical data to limiting fraudulent insurance claims. Dogecoin can reach its potential if it follows suit, Gokhshtein said.

As the nascent cryptocurrency space develops, daredevils are steadily extending the digital asset risk curve. Bitcoin (BTC) and ethereum (ETH), the two largest cryptocurrencies, once epitomized volatile, high-risk assets — and while the two still see sizable price swings, they pale in comparison to smaller altcoins, which can multiply or crash far more easily.

A familiar pattern has emerged in the world of digital assets: Crypto newcomers first hear about bitcoin — the digital-asset gateway drug — and decide to dip their toe in the water before learning about ethereum, then about altcoins that some have labeled as "ethereum killers."

Interest shifting away from bitcoin and toward riskier assets can serve to legitimize the original cryptocurrency, both by making it seem safer by comparison and by bringing cryptos into the mainstream as people make accounts on Coinbase and Robinhood, Gokhshtein said.

"People that want to make a quick buck, they're searching for just meme tokens or NFTs because they've heard that, 'Oh, my God, I can get into an NFT and I can go ahead and flip it," Gokhshtein said. "They're not going into ethereum. They're not going into bitcoin to go ahead and get rich overnight. That's not what their friends are telling them."

With the "alt season" lifting small and large cryptocurrencies to astronomical heights, even Gokhshtein acknowledged that the bullish sentiment was a bit out of whack.

"I'm watching a few of these things that are going up. They have nothing behind it except hopes and dreams," Gokhshtein said. "You stare at it — it's baffling. ... We have to be honest: If that digital asset does not have a real utility or a real any sort of use case to it, it's not going to survive. It won't be around in three years."

Below are five altcoins that Gokhshtein believes will succeed in the long term, along with each coin's symbol, market capitalization, use case, and analysis from Gokhshtein. He said he owned all five, plus bitcoin and ethereum.

Symbol: ADA

Market cap: $73.5 billion

Use case: A proof-of-stake platform that looks to empower innovators to build decentralized apps on its blockchain.

Quote: "With the congestion on ethereum, the way I see cardano, it's a complement," Gokhshtein said in a recent interview. "I know that cardano is going after ethereum, but right now, it's a complement to ethereum. I think that with the smart contracts coming out, and they've actually been delivering, I personally really do see it putting up really good numbers."

Symbol: DOT

Market cap: $34 billion

Use case: A multichain protocol designed to connect blockchains with different technical attributes and properties that could allow for the cross transfer of messages and assets.

Quote: "Gavin Wood, one of the founders of ethereum, he's behind the project," Gokhshtein told Insider in a previous interview. "That has me excited. When you look at the project, some die-hards will say it's something that might take over for ethereum. To me, I see it as a complement to ethereum."

Symbol: SOL

Market cap: $46.6 billion

Use case: An open-source project intended to improve scalability with proof-of-history and proof-of-stake consensus mechanisms.

Quote: "If anyone wants Web 3.0, they're looking at solana," Gokhshtein told Insider in a previous interview. "I don't even know why people are just getting to the point of talking about that project, highly underrated — and undervalued."

Symbol: LUNA

Market cap: $18.6 billion

Use case: A system that promises to peg stablecoins to fiat currencies to create a stable digital asset-payment infrastructure, while offering speed, affordability, and censorship resistance.

Quote: "Anything that Daniel or Do are in — basically, those are the founders — it's kind of like Gavin," Gokhshtein said in a recent interview, referring to Daniel Shin, Do Kwon, and Gavin Wood. "I believe that the platform that they're building here it's really going to perform well."

Symbol: LINK

Market cap: $12.4 billion

Use case: A decentralized oracle network that provides external data to blockchains.

Quote: "Chainlink is, like, the one that really bothers me because it shouldn't be at this current price point," Gokhshtein said in a recent interview. "They've built a phenomenal platform. They have a phenomenal use case. I see things in the market going up, which have, you know, promises where chainlink has the solution ready."

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Originally published in The Conversation, under Creative Commons licence CC-BY-ND. Updated here by the author.

Mainstream commentators are often dismissive of the people who buy bitcoin, writing them off as naive victims of a fraudulent bubble. But if we look more carefully, we can trace the history of bitcoin, and its growing acceptability, through the arrival of different kinds of buyers. Each group has been drawn by a different narrative of bitcoin’s value, and it is these groups and narratives that have gradually contributed to its long-term growth.

The Idealists

Bitcoin arose from a tiny group of cryptographers, known as “cypherpunks,” who were trying to solve the “double spend” problem facing digital money: “cash” held as a digital file could easily be copied and then used multiple times. The problem is easily solved by financial institutions, who use a secure central ledger to record how much everyone has in their accounts, but the cryptographers wanted a solution that was more akin to physical cash: private, untraceable, and independent of third parties like the banks.

Satoshi Nakamoto’s solution was the Bitcoin blockchain, a cryptographically-secured public ledger that records transactions anonymously and is kept as multiple copies on many different users’ computers. The first narrative of bitcoin’s value was built into Nakamoto’s original “white paper.” He claimed that bitcoin would be superior to existing forms of electronic money such as credit cards, providing benefits like eliminating chargebacks to merchants and reducing transaction fees.

The Libertarians

But from an early stage, Nakamoto also marketed bitcoin to a libertarian audience. He did so by stressing the absence of any central authority and particularly bitcoin’s independence from both states and existing financial institutions.

Nakamoto criticised central banks for debasing money by issuing increasing amounts of it and designed bitcoin to have a hard limit on the amount that could be issued. And he stressed the anonymity of bitcoin transactions: safe, more or less, from the prying eyes of the state. Libertarians became enthusiastic advocates and buyers of bitcoin, more as an act of autonomy than for financial reasons. They have remained highly influential in the Bitcoin community.

The HODLers

These, however, were small constituencies, and bitcoin really started to take off in July 2010 when a short article on Slashdot.org (“news for nerds”) spread the word to many young and technically-savvy buyers. This community was influenced by the “Californian ideology” – belief in the capacity of technology and entrepreneurs to transform the world.

Many bought small quantities at a low price and were somewhat bemused to find themselves sitting on significant investments when the price multiplied. They became used to huge fluctuations in the price and frequently advocated “HODLing” bitcoin (a misspelling of “hold,” first used in a now iconic message posted by an inebriated user determined to resist constant “sell” messages from day traders). The HODLers insisted, half seriously, that bitcoin was going “to the moon!” and talked of buying “lambos” (lamborghinis) with their gains. This countercultural levity generated a sense of community and a commitment to holding bitcoin that helps stop its value from sinking to zero when sentiment turns against it.

The Gamblers

The more recent groups that have contributed to bitcoin’s history are more conventional. The fourth group consists of individual speculators who have been attracted by the volatility and peaks in bitcoin prices.

On the one hand, we have day traders, who hope to exploit the volatility of bitcoin’s price by buying and selling quickly to take advantage of short-term price movements. Like speculators in any other asset, they have no real interest in the larger picture or of questions of inherent value, but only in the price today. Their only narratives are “buy” and “sell,” often employed in an attempt to influence the market.

On the other hand, we have those who are drawn in by news of price bubbles. Ironically, bubble narratives in the press, often designed to deter investors, can have the opposite effect. These investors join what Keynes called a “beauty contest” – they don’t care about long-term or intrinsic value but only about what other people might be prepared to pay for bitcoin in the short- to medium-term future.

The Portfolio Balancers

Bitcoin started to become more attractive to more sophisticated investors when narratives of its value as a useful element in a larger investment portfolio started to emerge. These investors buy bitcoin to hedge against wider risks in the financial system. According to modern portfolio theory, investors can reduce the riskiness of their portfolios overall by holding some bitcoin because its peaks and troughs don’t line up with those of other assets (i.e., bitcoin became known as an “uncorrelated” asset), providing some insurance against stock market crashes. This is arguably the narrative that started to break down the barriers to bitcoin’s acceptability among mainstream investors: they often take the view that risk, rather than something to be avoided, is something to be embraced as a source of high returns in a properly-balanced portfolio.

The Corporate Enthusiasts

Most recently the continuing upward progression of bitcoin’s price plateaus and market value have started to make it attractive to corporate investors. Initially this has been driven by enthusiasts in senior positions in a few large corporations who have made very large purchases of bitcoin to hold as part of the corporation’s own portfolio of assets. These purchases have enhanced the narrative of bitcoin as a mainstream investment, but they also contribute to a different narrative about the value of the corporation’s own shares. When a company’s bitcoin holding becomes a significant part of its assets, its own shares can be positioned as bitcoin-like investments, which should rise in price when bitcoin does, and vice-versa. They therefore become more attractive to investors who want some exposure to bitcoin but are wary of buying it themselves – or are legally prevented from buying it, like some mutual funds.

Where Next?

As bitcoin becomes attractive to more and more constituencies of buyers, the major financial institutions are becoming increasingly eager to get in on the act. We can expect them to package up new financial products, including derivatives, that give investors indirect exposure to the bitcoin market. In a narrative that has been bubbling under for some time, they are preparing to position bitcoin-related products as a routine element of institutional portfolios. If they succeed, the packagers will also have to buy bitcoin themselves to hedge against their commitments to buyers of their financial products. The irony, of course, is that these recent developments tie bitcoin ever tighter into the financial institutions that Nakamoto designed it to escape from.

Bitcoin’s value, then, has been built on an evolving series of narratives which have drawn in successive waves of buyers. While mainstream commentators are often dismissive of bitcoin as lacking inherent value, all asset market values depend on narrative processes like these, so bitcoin is much more like conventional assets than they are prepared to admit. Of course, bitcoin prices may well collapse again, but so may those of any other financial asset. Investing in bitcoin is arguably neither more nor less risky, for example, than investing in the latest technology company to be launched on the stock market without ever having made a profit.

This is a guest post by Dave Elder-Vass. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.

When the stock market sells off sharply — as it did on Monday during the Evergrande meltdown — bitcoin and other cryptoassets often sell off too.

This always surprises people. Skeptics come out of the woodwork and shake their heads, noting sarcastically: “I thought cryptoassets were supposed to be uncorrelated.”

I find this baffling.

If there is one thing everyone agrees on about crypto, it’s that it’s a risky investment. Why, then, are we surprised when crypto sells off during risk-off moments?

I know that crypto gets billed as an uncorrelated asset, and it is: Over any meaningful period of time, the correlation between crypto and the stock market is about 0.2, which is very low. But a general lack of correlation doesn’t guarantee crypto will zig when the market zags over the short term. It means it will offer uncorrelated returns over months and years, which it has, historically.

The people who expect crypto to precisely offset the market fail to understand what actually drives crypto performance. In reality, there are three main drivers of crypto returns. If you want to understand why different crypto assets move the way they do, you have to understand how these three main drivers interact.

Driver 1: Risk-On/Risk-Off Appetite

The first major driver of crypto returns is risk appetite. As mentioned, cryptoassets like bitcoin are risky investments. When investors get nervous, they sell risky assets. When they get bullish, they buy.

That’s true of all risky assets, and that’s what we saw on Monday, when crypto traded down in line with stocks. You see the same effect on other risky areas of the market, including in the “disruptive technology” ETFs offered by Cathie Wood and ARK Invest.

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Crypto responds to risk-on/risk-off dynamics.

Driver 2: Industry-Wide Factors

The second major driver of crypto returns is industry-wide factors. That means news and developments that impact the entire crypto industry, or certain sectors of the industry.

Regulation is a good example. Regulators in Washington and elsewhere today are debating issues like how to regulate stablecoins, crypto exchanges, and the DeFi space. Good news on the regulatory front would lift the price of the crypto market as a whole, while concerns about overreach could drive the market lower. You’re seeing that today as the market reacts to China’s ban on crypto trading.

Another example is education. I’ve been on the road for the past two weeks speaking to literally thousands of institutional investors and financial advisors about crypto at multiple conferences. This kind of education — multiplied by all the other people doing the same thing — has an industry-wide benefit and is a long-term driver of returns. Knowledge breeds confidence. 

Driver #3: Asset-Specific Drivers

The third driver of returns is factors that impact individual cryptoassets and their use cases. 

For example, the price of ether is up significantly this year due in part to booming interest in NFTs, or non-fungible tokens, which are tied to the Ethereum network. Bitcoin’s price is up less in part because it’s not exposed to the NFT boom. 

By comparison, bitcoin’s price is more responsive to central bank activity and concerns about inflation than ether’s, since bitcoin’s primary use case is as digital gold.

Different cryptoassets and their related blockchains provide different services and are targeted at different markets. As they succeed or fail … and as those markets grow or ebb … the returns of the specific asset feel the impact. 

What This Means for Investors

Understanding the interplay between these three factors is key to understanding how cryptoassets perform.In the early days of crypto, investor risk appetite was the only factor that mattered. Crypto was extremely speculative at the time and use cases were abstract. As a result, risk-off sell-offs (and risk-on bull runs) were extreme. Cryptoassets regularly moved 10% or more on individual days.

Today, industry and asset-specific drivers have come to predominate. There are days — like Monday — when risk factors can overwhelm the market, but on most days, crypto is driven by factors like regulation and institutional adoption. This is why crypto exhibits low correlations with stocks and other markets when measured over time, even if correlations can spike to 1 during risk-off moments.

Long term, as the markets mature, I expect asset-specific drivers to become the dominant or at least a larger driver of returns. You can already see this in markets, where assets like Solana are showing spectacular returns (up more than 9,000% year-to-date) as they are increasingly perceived by investors as an alternative to the overcrowded Ethereum blockchain. I expect the correlations between different cryptoassets to decrease as their distinct characteristics and use cases become more evident. There is no particular reason why bitcoin (which acts as digital gold) should be highly correlated with ethereum (which is the platform for DeFi, NFTs, and other applications) over the long term. It is today, because they are both buffeted by significant industry-wide forces and risk-appetite dynamics. But in a mature, steady state, they should have fairly distinct return patterns.

Meanwhile, don’t let short-term returns fool you: Cryptoassets trading down on risk-off days are just a reminder that it’s still early in crypto, and that crypto is a risky asset. This risk factor can overwhelm the industry and asset-specific drivers in the short term. But over the long term, crypto has demonstrated a low correlation with other assets, and that lack of correlation seems likely to persist over time.

Follow me on Twitter. Matt Hougan…

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Decentralized finance, or DeFi, is a system by which financial products become available on a public decentralized blockchain network. That makes them open to anyone to use, rather than going through middlemen like banks or brokerages. Unlike a bank or brokerage account, a government-issued ID, Social Security number, or proof of address are not necessary to use DeFi. More specifically, DeFi refers to a system by which software written on blockchains makes it possible for buyers, sellers, lenders, and borrowers to interact peer to peer or with a strictly software-based middleman rather than a company or institution facilitating a transaction.

Multiple technologies and protocols are used to achieve the goal of decentralization. For example, a decentralized system can consist of a mix of open-source technologies, blockchain, and proprietary software. Smart contracts that automate agreement terms between buyers and sellers or lenders and borrowers make these financial products possible. Regardless of the technology or platform used, DeFi systems are designed to remove intermediaries between transacting parties.

Though the volume of trading tokens and money locked in smart contracts in its ecosystem has been growing steadily, DeFi is an incipient industry whose infrastructure is still being built out. Regulation and oversight of DeFi are minimal or absent.

Key Takeaways Decentralized finance, or DeFi, aims to use technology to remove intermediaries between parties in a financial transaction.The components of DeFi are stablecoins, use cases, and a software stack that enables the development of applications.The infrastructure and use cases for DeFi are still in development. What Is DeFi?

The use of technology in financial services is not new. Most transactions at banks or other financial services companies are accomplished with the help of technology nowadays. However, the role of technology is restricted to being a facilitator of such transactions. Companies still have to contend with navigating the legalese of jurisdictions, competing financial markets, and different standards to make a transaction possible. With its stack of common software protocols and public blockchains to build them on, DeFi places technology at the front and center of transactions in the financial services industry.

DeFi is commonly placed in the domain of blockchain and cryptocurrencies. But its scope is much wider. To understand the thought processes that led to the development of decentralized finance, it is important to understand the current state of the finance ecosystem.

Modern financial infrastructure is built on a “hub and spoke” model. Key economic centers of activity, such as New York and London, function as operational hubs for the financial services industry and influence economic activity at spokes—regional centers or financial powerhouses like Mumbai or Milan that may not be as globally important as hubs but still function as nerve centers for their respective economies.

Economic prosperity or hardship radiate outward from hubs to spokes and toward the rest of the global economy. This model of interdependency is repeated in the functioning of global financial services corporations. They have headquarters in hubs and local branches, partnerships, or investments across the world. The sprawl of their operations means that the organization itself is subject to a phalanx of laws and regulations in each of its financial jurisdictions. Their reach has made such institutions systemically important to maintain the global economy’s balance and necessary to maintain or create new financial services infrastructure.

Though this model worked well in the last century, the financial crisis and, subsequently, the Great Recession, revealed the flaw in this architecture. The balance sheet problems for a couple of large financial institutions produced a domino effect of tumbling economies and the onset of the global recession.

Decentralized finance uses technology to disintermediate centralized models and enable the provisioning of financial services anywhere for anyone regardless of ethnicity, age, or cultural identity. DeFi services and apps are mostly built on public blockchains, and they either replicate existing offerings built on the rails of common technology standards or they offer innovative services custom-designed for the DeFi ecosystem. At the same time, DeFi applications provide users with more control over their money through personal wallets and trading services that explicitly cater to individual users instead of institutions.

What Are the Components of DeFi?

At a broad level, the components of DeFi are the same as those for existing financial ecosystems, meaning they require stable currencies and a wide variety of use cases. DeFi components take the form of stablecoins and services like crypto exchanges and lending services. Smart contracts provide the framework for the functioning of DeFi apps because they encode the terms and activities necessary for the functioning of these services. For example, a smart contract code has a specific code that establishes the exact terms and conditions of a loan between individuals. If certain terms or conditions are not met, collateral could be liquidated. All of this is conducted through specific code rather than manually by a bank or other institution.

All components of a decentralized finance system belong to a software stack. Each layer’s components are meant to perform a specific function in the building of a DeFi system. Composability is a defining characteristic of the stack because the components belonging to each layer can be composed together to fashion a DeFi app.

Outlined below are the four layers that comprise the DeFi stack:

The Current State of DeFi

Decentralized finance is still in the beginning stages of its evolution. The total value locked in DeFi contracts is more than $41 billion, as of March 2021. The total value locked is calculated by multiplying the number of tokens in the protocol and their value in USD. Though the total figure for DeFi may sound substantial, it is important to remember that it is notional because many DeFi tokens lack sufficient liquidity and volume to trade in crypto markets.

The DeFi ecosystem is still riddled with infrastructural mishaps and hacks. Scams also abound in the rapidly evolving DeFi infrastructure. DeFi “rug pulls,” in which hackers drain a protocol of funds and investors are unable to trade, are common, though there are well-established protocols that can reduce this risk significantly.

The open and relatively distributed nature of the decentralized finance ecosystem might also pose problems to existing financial regulation. Current laws were crafted based on the idea of separate financial jurisdictions, each with its own set of laws and rules. DeFi’s borderless transaction span presents important questions for this type of regulation. For example, who is culpable in a financial crime that occurs across borders, protocols, and DeFi apps?

Smart contracts are another area of concern for DeFi regulation. Aside from Bitcoin's success, DeFi is the clearest example of the “code is law” thesis, wherein law represents a set of rules that are written and enforced through immutable code. The smart contract’s algorithm is encoded with the necessary constructs and terms of use to conduct transactions between two parties. However, software systems can malfunction due to a wide variety of factors.

For example, what if an incorrect input causes a system to crash? Or, if a compiler (which is responsible for compiling and running code) errs. Who is liable for these changes? These and many other questions need to be worked out before DeFi becomes a mainstream system used by the masses.

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In only 12 years, the cryptocurrency market has gone from a fringe niche known only around tech circles to a global phenomenon revolutionizing the traditional finance industry. It’s not only the finance industry as the technology behind these digital currencies; blockchain is seeing many use cases in other sectors such as health care, supply chain, and so on. Cryptocurrency projects rely on tokens to govern and fuel them, and the explosion of utility tokens on various platforms has created an opportunity for many. Early investors in most projects have seen their fortunes change for the better as the tokens have grown in value due to increased adoption. 

Today to get a whole Bitcoin , you need at least $56,000. Just 8 years ago, the same coin was available for less than $100. Buying a whole Bitcoin and a few other top coins is out of reach for most individuals, and it’s easy to feel like you missed out on a golden opportunity. However, did you know it’s possible to earn cryptocurrency and multiply your capital without investing even a cent? Below let’s take a look at how this is possible.

There are many ways you can earn crypto without having to buy the tokens using your cash. The first and easiest method is through crypto bounty campaigns. Platforms such as BountyMarketCap tracker will list all bounties taking place, offering an easier alternative for users to discover new bounties compared to trying to do it manually. You will find projects running bounty campaigns on the platform, and you can sort various crypto startups according to their bounty market cap. You can cash out on your bounty immediately if you like by selling the stake you have earned. This happens by visiting BountyMarketCap, clicking on your bounty, and then clicking on the sell button in front of your bounty stakes title.

The tokens you win on various bounty campaigns can be used to earn yourself even more crypto tokens. As a holder, you can earn passive income by lending or borrowing using your tokens as collateral. The solution is provided by Tokpie, the first cryptocurrency exchange platform that supports bounty stakes trading. On the platform, everything works on a peer-to-peer (P2P) mode using promissory notes. This allows participants to exit the transaction at any given moment.

There are a few advantages of trading your bounty tokens on TOKPIE, such as getting access to competitive rates since you get to decide what interest you would like to borrow or lend thanks to the auction trading of bills of exchange which are discounted in a standard stock exchange. This allows for determining the fairest cost of funding.

Also, you can close a trade at any time without being penalized. As a lender on the platform, you can take back the borrowed cryptocurrency at any given time by selling the previously purchased promissory notes. Likewise, the user that had borrowed can settle his or her obligations at any moment by buying back the promissory note from the market.

Additional benefits include a lack of minimum deposit requirements allowing users to lend and borrow crypto starting from any amount. Also, there is no identity verification required to participate and enjoy the platform, and most incredibly, the exchange offers the highest loan to value ratio in the market. Users can attain up to 90% of the value of their assets which they give out as collateral. That is 40% more than most platforms will offer crypto borrowers.

Bounties represent an easy way to earn crypto for free. However, there are a few other methods for achieving the same goal without spending your money. Some of the most popular include doing microtasks where you are paid in tokens, participating in surveys, creating content for crypto, helping projects with marketing campaigns, and so on.

Disclaimer: ZEXPRWIRE Staff may not have modified or edited the content body. The views and facts appearing in the articles do not reflect the opinions of ZEXPRWIRE, also ZEXPRWIRE does not assume any responsibility or liability for the same.

Market capitalization can be an important factor for stock market investors. But it’s not quite the same for crypto investors.

While stock market capitalization — the total value of a company’s total shares of stock — can help investors build and maintain a balanced investment portfolio, experts say those rules don’t exactly apply for crypto investors.

Here’s what crypto investors should know about market cap, and how it should (or shouldn’t) factor into your strategy.What Is Cryptocurrency Market Capitalization

Crypto market capitalization is the total value of a cryptocurrency. Where stock market capitalization is calculated by multiplying share price times shares outstanding, crypto market capitalization is calculated by multiplying the price of the cryptocurrency with the number of coins in circulation. 

For example, Bitcoin’s market capitalization is found by multiplying the current number of coins in existence — over 18 billion — with Bitcoin’s price at a given time. As Bitcoin’s price fluctuates, which it does frequently, so too does its market capitalization. In the past few weeks, Bitcoin’s price has been between around $45,000 to $55,000, which translates into a significant range in market capitalization:

$45,000 x 18.8 million = $846 billion$50,000 x 18.8 million = $940 billion$55,000 x 18.8 million = $1.034 trillion 

For comparison, here’s how Ethereum stacks up against Bitcoin in market cap: At a price of $3,000 and circulation of about 117 million, Ethereum has a market capitalization of about $351 billion. Even though there are many more Ethereum coins in circulation, Bitcoin’s value makes its market capitalization larger.What Does Crypto Market Cap Mean for Investors?

In the stock market, knowing a company’s market capitalization classifies it into an investment category: small cap, mid-cap, or large-cap. An investor might choose to divide their investment into these groups for different reasons, so knowing market cap is important. Market cap is often used to refer to how much a company is worth, and this value can be reflected in how risky it is to invest in the company. Large-cap stocks are often less risky, but slower-growing than mid- or small-cap stocks. 

However, cryptocurrency is new. So new, in fact, that these types of categories haven’t yet been formed. And since experts say you should stick to Bitcoin and Ethereum, and not let crypto represent more than 5% of your total portfolio, there is less need to use market cap in determining investment decisions. 

Knowing cryptocurrency market cap might be interesting if you wish to know the scope or potential of a certain token, but it shouldn’t be as big a factor with your investing decisions as it might be in the stock market. With crypto, “It’s very important to recognize that it’s completely different from the stock market,” says Jully Alma-Taveras, the personal finance expert behind “‘Investing Latina”’ on Instagram. “It’s a completely different world.” 

While market capitalization has a more limited application with crypto investing, there is one way it can potentially help guide the way you invest in Bitcoin and Ethereum. How to Use a Crypto Weighted Market Cap Strategy

A weighted market cap strategy can help investors even if they are only investing in Bitcoin and Ethereum, says Jeremy Schneider, the personal finance expert behind Personal Finance Club told us recently. 

A weighted market cap strategy means you put a proportional investment into each asset based on market cap. So if you take the total market capitalizations of both Bitcoin and Ethereum, then divide out the percentages each individual crypto holds in that total, you’d end up with about 71% Bitcoin and 29% Ethereum. 

This approach can help you determine how to invest $100 in the two biggest cryptocurrencies: You’d invest about $71 in Bitcoin and $29 in Ethereum.

While the experts say you shouldn’t bother with other altcoins (anything that’s not Bitcoin), the same philosophy can in theory be used for whatever you wish to include into your portfolio. Just allocate how much of a total investment amount you wish to put into each coin based on its proportional market capitalization. At the very least, this ensures you are putting much smaller amounts in other cryptos, and larger amounts in the relatively safer Bitcoin and Ethereum.

[READ MORE:] Does Crypto Belong In Your Investment Portfolio? These 4 Questions Can Help You Decide

It’s also important to remember that because crypto prices fluctuate so dramatically, market capitalization is constantly changing. This fluctuation — along with the potential for the market to drop out entirely — is also why experts recommend keeping any investment extremely limited, and only to invest what you’re OK with losing. 

Metrics are numbers that investors use to decide whether to buy, sell or hold a cryptocurrency. There are 6,317 cryptos being actively traded across 405 exchanges! This makes it hard to quickly decide whether a cryptocurrency is worth investing in, and so, If you are a serious investor, you must know about these 5 types of metrics:

R = ROI and risk  O = Open-High-Low-Close prices H = Holders Stats A = Amounts S = Speed

Yes, I know that I have managed to build this around my name again, but hey, it's easy to remember, right? Let's dive in!

R = ROI and risk

Let's talk about Return on investment (ROI), and risk metrics.

Return on Investment (ROI) measures the amount of return on a crypto investment, relative to its cost.

ROI = Profit / Cost

The graph below shows the RoI on Bitcoin through the years.

Cryptocurrency prices are notorious for large upward and downward swings. The 2 important crypto risk metrics are volatility and Sharpe ratios.

Volatility

Volatility measures the price fluctuations of a crypto. If a crypto has higher volatility, its value can be spread out over a larger range. The value of volatile cryptos can massively change in a short period.

Conversely, a crypto with lower volatility is likely to be stable and subject to smaller swings.

Volatility is usually measured using variance and standard deviation.

The graph below shows the Volatility of four cryptos — Bitcoin, Ether, Tether, and XRP. As expected Tether (USDT), which is a stablecoin, has virtually zero volatility. 

Sharpe Ratio

Sharpe Ratio is the average return earned in excess of the risk-free rate per unit of volatility. While calculating the ratio, we subtract the risk-free rate from the mean return. This allows us to calculate profits associated with the risk-taking activity.

The risk-free rate of return is the return on an investment that has zero risks, such as a Treasury bond. A positive Sharpe Ratio implies that the returns are higher than the amount of risk.

O = Open-High-Low-Close prices

OHLC is a type of bar graph that shows the open, high, low, and closing prices for a crypto for a particular time period — an hour, a day, or even a year. Other price metrics are all-time-high (ATH) and all-time-law (ATL). As the name suggests, ATH is the highest price a crypto has ever reached and ATL is the lowest. 

Example: Ether (ETH) hit an all-time high of Rs. 318,620.83 on May 12, 2021. Its all-time low was Rs. 30.74 on Oct 21, 2015. You should also check out the high and low prices over the last 24 hours, 7 days, 30 days, 90 days, and 52 weeks. You can track this data on this Bitcoin price history page.

H = Holders Stats

You've probably heard of the term "whales". They are addresses that own more than 1 percent of the circulating supply of a crypto.

Some of the important metrics related to holders of crypto are:

The total number of unique addresses that hold assets in the network. Addresses that have been active over the last 24 hours and 7 days Transactions carried out by the top addresses by balanceA = Amounts

Here we are going to talk about supply and market capitalisation.

Circulating Supply

This is the number of coins/tokens that are circulating in the market and are in public hands. Usually, the lower this number, the higher the prices are likely to be. 

Example: The circulating supply of Bitcoin (BTC) increases approx every 10 minutes as new Bitcoins are generated with every block that is mined. The crypto with the highest circulating supply is SHIBA INU with 394,796,000,000,000 SHIB.

Maximum supply

This is the maximum number of coins/ tokens that will ever exist in the lifetime of a crypto.

Examples: The maximum supply of Bitcoin (BTC) is 21 million while that of Ether (ETH) is unlimited!

Total supply

The number of coins/ tokens that have been already created, minus coins/ tokens that have been "burned".

Examples: In the case of Bitcoin (BTC), the circulating supply is equal to the total supply. Binance Coin (BNB) regularly "burns" coins and this helps maintain its price.

Market Capitalisation

The total market value of a crypto's circulating supply. The Market Capitalisation is the Circulating Supply multiplied by Current Price. Historically, Bitcoin (BTC) has always had the highest market capitalization and Ethereum the second highest.

Fully Diluted Market Capitalisation (FDMC) is the market capitalisation if the maximum supply was in circulation, or Price multiplied by Max Supply.

If the maximum supply is unknown or unlimited, like in ETH, then FDMC is the Price multiplied by total supply. If the maximum supply and total supply are both unlimited, then we can't calculate the FDMC.

S = Speed

Here we are going to talk about volume, speed, or velocity. Volume measures how much of a crypto was traded in a specific time period, such as within 24 hours, or 7 days. The speed or velocity of a crypto measures the rate at which the crypto is exchanged globally and is calculated as the 24 hour volume divided by the circulating supply.

Cryptos can be of various types, most commonly store of value, medium of exchange, and utility cryptos. For these cryptos, velocity is a very useful metric. The image below shows the velocity of some of the fastest cryptos as of 2nd September. 

There are also wrapped cryptos that are pegged to assets like commodities, equities, intellectual property, and so on. Since these are totally dependent upon the pegged assets, their velocities may not be very relevant. The same could be said for governance tokens, dividend-paying cryptos, and security tokens.

Rohas Nagpal is the author of the Future Money Playbook and Chief Blockchain Architect at the Wrapped Asset Project. He is also an amateur boxer and a retired hacker. You can follow him on LinkedIn.

Your daily snapshot from the OnChainFX markets dashboard.THIS WEEK IS THE LAST WEEK you can subscribe to UO for just $1 / day.We’re ramping up subscriber perks in anticipation of our Q2 market intelligence beta. Starting 3/25, rates go up to $699 / year and $75 / month to access our:Daily email access to our team’s top insights from the crypto marketsWeekly subscriber-only analyst calls with our research team200+ community analyst Discord group where you can join the daily conversationEarly beta access! The professional charting / dashboarding tools you’ve neededThis week only, we’re sharing our subscribers-only briefs with you to try before you buy. Like what you see? Democratic Presidential candidate Andrew Yang recently got me thinking about what sectors of the economy would get a boost if his plan for a $1000/mo “Freedom Dividend” (i.e. Universal Basic Income) for every American over the age of 18 were to get implemented. I conducted a very scientific poll of the crypto-community on how much of that $3T/year might flow into crypto:My followers (almost all crypto folks) were unsurprisingly bullish on their assessments. Maybe the more interesting question is: “How much would UBI inflows move total crypto marketcap”?New entrants to the crypto-community (or finance in general) might think that if $10B were used to buy bitcoin, then bitcoin’s marketcap might also go up by $10B. Traders, though, will quickly tell you this is almost never the case, at all, in any market, ever. Here’s an example to illustrate…Say the current price of some asset, YangCoin (YGC), is $10.00, and there are 1 million YGC in existence. The marketcap, price times supply, is $10 million. Now someone places an order to sell 5 YGC for $10.10, and I decide to buy it. It costs me $10.10 * 5 = $50.50 to buy that order, and now the last price quote is $10.10.Marketcap now reads as $10.10 * 1,000,000 = $10,100,000. I just spent fifty bucks to increase marketcap by a hundred grand! (TBI Note: This is also why many crypto folks say “marketcap” is bullshit as currently defined, and that “liquidity” is what actually matters….keep your eyes on OnChainFX for new metrics dealing with this soon.)Trading prices and marketcaps are often calculated in ways that smooths these extreme effects, but you get the idea: every incremental dollar invested will usually have a much bigger effect on marketcap than $1. This has been an open question that analysts have tried to tackle at various times over the years. It’s impossible to tell exactly (as you’d have to have perfect knowledge of all exchange and mining activity ever), but there are reasonable ways to estimate it. For example, in late 2017, Placeholder General Partner Chris Burniske used some basic assumptions and polls to estimate the number of new exchange users over a certain period, as well as how much crypto they tended to buy. He showed that new money yielded an “inflow-multiplier” effect of anywhere between 2x and 25x. That is, every dollar used to buy a cryptoasset contributed between $2 and $25 to total marketcap over the period he reviewed.From a later post in 2018 that addressed this from the opposite perspective (net outflows due to tax payments), Chris and co-author Jonathan Cheesman wrote:Historically, the fiat amplifier has been stubbornly hard to pinpoint given the fragmentation of fiat onramps, and lack of standardization around exchange reporting. As shown above, however, this tax crisis gives us an opportunity to quantify a large, specific flow and examine the fiat amplifier effect. And in crypto we’ve learned to never let a good crisis go to waste[…]Turning to the current bear market, we can divide the loss in network value thus far in 2018 by the estimated tax liability outflow, to define a maximum fiat amplifier. Dividing the $590bn drop from early January highs to present, by our estimate of $14bn net outflows, yields a maximum fiat amplifier of 42x. If instead we use the more aggressive $29bn estimate of outflows, then the maximum fiat amplifier drops to 20x. It is important to recognize these amplifiers represent the maximum, as if net outflows have been greater due to FUD, then that would dampen this ratio by increasing the denominator.Again, we’re looking at potentially double-digit multipliers. Goes to show you how little it would take (in institutional investment terms) to spark a new bull run. How about a little more very-scientific twitter polling?The crowd pegs the range at 4x-20x, which dovetails nicely with the estimates above. This is a huge range by financial standards, but like many things in crypto, just getting to a somewhat justifiable ballpark range means you’re probably way ahead of the pack.Now, for fun, let’s go back to our original question: how would President Yang’s $1000/month “Freedom Dividend” - some $3 trillion per year - impact crypto markets?If we neutered crypto-twitter’s bullish assessment, and assumed just 1% of UBI went to crypto (I know many of us would be auto-exchanging 100% of this garbage fiat), and assumed the multiplier was 10x, we’d see $30 billion per year in net new inflows with a $300 billion increase in marketcap.That’s 3x today’s market size, and would get us back to levels not seen since Feb 2018.Maybe it’s not institutional money, ICO FOMO, or a global macro event that triggers the Next Crypto Bull Market™ after all. Maybe it’s “free” money that actually flows to people vs. banks.P.S. Spread the love. Tweet at Messari for requests, feedback, comments, or questions.Content and thoughts from around the web as summarized by the Messari team.Few things are more stressful than cryptocurrency tax filings, and the questions taxpayer have are nearly as numerous as the advice other professionals are willing to offer. But a lot of that advice needs to be taken with a proverbial grain of salt, explains Katya Fisher. As she addresses some specific advice she takes exception to published by a digital asset financial firm, she more broadly explains that not everything you read about taxes should be accepted as true. Ultimately, she advises to be sure to “talk to an experienced advisor” about crypto tax questions because bad advice can make something already complicated and frustrating into something exponentially more painful. (share or read more)Understanding the differences between protocols, applications, and the financial tools that can be leveraged to incentive participation and user growth is critical to comprehending why certain products create native tokens, make certain design decisions, and build atop a given platform. Will Warren explains and differentiates these building blocks to give observers and investors a better idea of how to categorize and value different projects building with "smart contracts", specifically on Ethereum, because current terminology can be confusing and ambiguous and needs improvement. Ultimately, Warren wants to communicate that "app coins" and "protocol tokens" are two completely separate classes of digital assets with different use cases and unique value propositions. (share or read more)📆 Coinbase has changed its exchange structure features to increase liquidity, price discovery, and price movement smoothness. Five total updates were made including changing the fee structure, updating order maximums, and turning off stop market orders. The new rules will go into effect March 22nd. (share or read more)👩‍⚖️ Law firm Stewart McKelvey has withdrawal from the QuadrigaCX case being heard by the Nova Scotia Supreme Court. Ernst & Young Inc., the court appointed monitor, had expressed concern over possible conflict of interest, although no information was disclosed. The firm will continue to represent the estate of deceased CEO Gerald Cotten and his wife, Jennifer Robertson. (share or read more)🚀 Donut, a startup addressing mass tokenization, has finished a $1.8 million seeding round supported by Redalpine and TinyVC. The project, which did not exist ten months ago, is building systems and applications for saving and investing in the new token economy. Donut is using the funds to expand its team and launch its 'Donut Test Kitchen' this summer. (share or read more)👩‍💻 Six banks have signed letters of intent to join IBM's World Wire, a stablecoin backed remittance and foreign exchange system run on the Stellar Lumens ($XLM) public blockchain. World Wire is still awaiting regulatory approval in many places, such as the U.S. in which IMB expects a late 2019 endpoint launch. IBM is also testing its 'pay-as-you-go' revenue model to increase profitability with the service. (share or read more)🇮🇱 An Israeli court has blocked Union Bank of Israel from closing an account linked to cryptocurrency mining firm Israminers Ltd. The judge ruled that the closure was unreasonable based on occupation of the depositor alone. Forced closure based on money laundering concerns was deemed permissible. (share or read more)💭 Over the last year, the number of blockchain-related lobbyists has tripled in Washington D.C. According to disclosures, only 12 blockchain-related firms were lobbying in Q4 2017 while Q4 2018 had 33. Those familiar with the scene believe the chief cause is lack of regulatory clarity regarding the SEC's securities laws. (share or read more)Send me the link, your twitter handle and your best imitation compression algorithm write up. If I like it, I’ll include your bit next issue (with attribution).Should your colleagues read daily? We now offer discounts for corporate access. Email us, and we’ll onboard your whole team.

The Polygon network surpassed the popular Ethereum Blockchain network in terms of user base with over 566,516  active users recorded on the platform, revealed a research report by Polygonscan on October 2. On the other hand, Ethereum’s tally stood at 527,158.

Data from Etherscan shows that the number of active addresses on the Polygon network has grown by 168 per cent in the last 30 days, while Ethereum’s count has gone up by a meager 0.6%. This is the first time ever that the number of users of the Polygon network has exceeded that of Ethereum.

Ethereum is an open-source public blockchain network that enables people to send cryptocurrency to anyone for a fee. This blockchain network had led the charge against competitors when it came to user interactions in crypto gaming. However, new numbers have revealed that more users are interacting with the Polygon chain rather than the Ethereum Mainnet.

https://images.indianexpress.com/2020/08/1x1.png

Read more |Rapid growth, increasing adoption of crypto assets pose financial stability challenges: IMF

Ethereum suffers from slow transactions and at times high transaction costs have prohibited users from interacting with the coin. Meanwhile, on the Polygon network, the transaction fee is very less and offers high security too.

According to Spencer Noon, a cryptocurrency venture capital fund, Non-fungible tokens (NFT) adoption and NFT based fantasy gaming have fueled the growth in Polygon’s user base. “Since July, traders on Polygon OpenSea [the NFT marketplace] have multiplied 45.5x, and NFTs sold by 17.5x,” Spencer said in the Network report published October 2.

The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards. © IE Online Media Services Pvt Ltd Tags:cryptocurrencyethereum

Cryptocurrencies were up on Monday morning as bitcoin continued to hold above a key level of $50,000 (£36,653).

Bitcoin (BTC-USD) was up 1.5% to trade at $56,509 — less than 15% away from the all-time highs of $63,000 seen in April.

Ethereum (ETH-USD), the world’s second largest crypto by market cap, was up 0.7% to trade at $3,611.

Analysts are predicting a record rally to end 2021. "I’m still confident that if the current momentum in prices continues, we could see the bitcoin price hit new all-time highs of $100,000 this year,” said Nigel Green, CEO of deVere Group.

Over the weekend, investor Michael Burry said meme token Shiba Inu (SHIB-USD) is "pointless", criticising its supply.

The hedge fund manager and founder of private investment firm Scion Asset Management is know for forecasting the 2008 financial crisis. 

He is profiled in the book The Big Short by Michael Lewis, which was made into a movie starring Christian Bale.

On Saturday, Burry shared cryptocurrency exchange platform Coinbase’s description of Shiba Inu on Twitter, which says: “Shiba inu (SHIB) is a token that aspires to be an Ethereum-based alternative to dogecoin (DOGE-USD), the popular meme coin. Unlike bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with a circulating supply of one quadrillion.”

In the now deleted tweet, Burry criticised the supply of the token: "Just saying, one quadrillion seconds is about 32 million years. One quadrillion days is 2.7 trillion years, or all of time, from the beginning of the universe, multiplied by 71,000. In other words, pointless."

Several people responded to Burry on Twitter saying that the circulating supply of Shiba Inu is no longer one quadrillion.

Burry has previously warned about investing in cryptocurrencies. In June, he predicted the “mother of all crashes”, saying that “the problem with crypto, as in most things, is the leverage”.

Read more: Bitcoin’s price is up as analysts predict ‘ludicrously strong’ Q4

Shiba Inu was up 3.7% to trade at $0.000028 on Monday morning.

The token surged last week after Tesla (TSLA) CEO Elon Musk tweeted a photo of his puppy, which is the same breed the token is named after. However, it was down almost 27% on Friday.

Mark Cuban said ethereum has the "most upside" in the crypto world, CNBC reported.

The billionaire investor said dogecoin is "fun" and educational.

The meme-inspired coin also has the best use-case for buying goods and services, he said previously.

When it comes to crypto, billionaire investor and Shark Tank host Mark Cuban said ethereum might be the best bet.

"As an investment, I think ethereum has the most upside," Cuban told CNBC Wednesday. So far this year, ethereum has multiplied its price five times, and is now worth $3,751.57, according to data from Coinmarketcap.

Cuban said he wished he had bought ethereum sooner because it's the closest thing "to a true currency," he said.

Ethereum uses code stored on blockchain called smart contracts, which enable two parties to exchange money without needing a middleman. Because these contracts have multiple use cases, like NFTs and DeFi, they have changed the crypto space, Cuban said in the CNBC report.

But they are also ripe for fraud, he said last month, and need regulation such as proof of identity.

As for other cryptocurrencies, Cuban, who also owns the Dallas Mavericks, recommended investing in dogecoin for "fun" and for educational purposes, CNBC reported.

On Twitter in May, Cuban revealed he bought 3,250 dogecoins with his 11-year-old son. He also gets dogecoins from Maverick tickets and merchandise sales.

The billionaire investor has said previously the meme-inspired altcoin has the best use-case for buying goods and services because it is mined on a fixed schedule. Bitcoin, however, is more akin to gold because it's an appreciable asset, so people don't use it to purchase items, he's said.

Bitcoin has been surging this past week and is nearing its record of $65,000. It rose 5% to $57,494.38 early Thursday, according to Coinbase data.

Read the original article on Business Insider

When J.R. Willett unveiled ‘The Second Bitcoin White Paper’ – the first whitepaper that introduced the concept of initial coin offering (ICO) in January 2012, no one really paid any attention.

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It wasn’t until 2017, where the little crazy idea of a Seattle-based software developer gave birth to the ICO craze that took the world by surprise with its outstanding crowdfunding performance.

However, the ICO trend had spiralled out of control by hype and became a speculative bubble that popped in mid-December 2017. While the marvellous achievement of ICO was short-lived, its fundamental concept has become the backbone of the crypto financing environment. From the genius of ICO, three prominent crypto fundraising mechanisms were born: STO, IEO and IDO.

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The SEC-approved benefit of Security Token Offering (STO) makes it attractive for projects to launch an ICO without legal ramification. By having a cryptocurrency exchange to research the projects, Initial Exchange Offering (IEO) gained traction and interest of retail investors as a safer alternative. Meanwhile, Initial DEX Offering (IDO) is a new concept born out of the recent DeFi craze where anyone can launch a token through a decentralized exchange with the advantages of instant liquidity, instant trading and cheaper listing cost. 

Recently, a new type of offering called Initial NFT Offering (INO) is gathering more interest among crypto retailers. This comes after the innovation of non-fungible tokens (NFT) that received support from big companies like NBA and Capcom as well as well-known entrepreneurs like Jack Dorsey of Twitter and Gary Vaynerchuk of VaynerX. 

However, the innovation of crypto crowdfunding does not stop here. A crypto project called Torum has created a modified version of INO with DeFi-infused elements for its upcoming public sale and named it Initial Staking NFT Offering (ISNO).

Initial Staking NFT Offering or ISNO is a new crypto funding innovation that involves offering a set of limited edition stake-able NFTs for sale. 

Unique from the other conventional INOs, the digital artworks received from ISNO can be staked to unlock a set of rewards or benefits in a project ecosystem. Aside from the inherent supply scarcity, the perks of holding the stake-able NFT can take place in many forms, including an autographed physical artwork from the original creator, integrated equipment in a gaming platform or even the farming reward multiplier that is proposed by Torum.

In the era of utility innovation, the crypto industry is constantly looking for meaningful use cases to speed up the crypto adoption pace, including NFT.

ISNO might just be the answer to that.

Torum is a social media platform that is specially designed for worldwide cryptocurrency users. Using social media as a foundation, the project is now expanding its ecosystem to the DeFi and NFT spaces. 

The new ecosystem will include Torum NFT Marketplace that integrates XTM, the native token of Torum and Torum Finance, a DeFi platform that will be used to organize the ISNO event.

Yi Feng Go, CEO of Torum says: “As I was researching DeFi and NFT, I couldn’t help but think that there must be some creative ways to incorporate the both of them. Then, the public sale idea hit me like a truck.”

The Torum’s ISNO event will start on May 10, 2021 with a total of 363 limited edition NFTs up for sale.

Organized on Torum Finance, there will be 5 different NFT tiers available for purchase, starting from $200 to $16,200. The digital artwork of each tier represents the 5 ecosystem eras of Torum, namely Genesis, Exorsus, Crescentia, Maturitas, and Concordia.

Released at 5 different prices, the NFTs issued under ISNO can each be burned to unlock a specific amount of XTM locked in the token and comes with a permanent staking multiplier ranging from 1.05x to 1.25x. With only 363 digital artworks up for grabs, the success of Torum’s ISNO event will once again spur a new wave of blockchain innovations.

For more information, visit torum.com

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. SponsoredShare ArticleBeInCrypto Staff

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