Mass adoption has been a long-term goal of the crypto industry ever since Bitcoin trading began, some 12 years ago. However, it would appear that another cryptocurrency managed to get ahead of BTC when it comes to being adopted by firms, banks, and governments — Quant (QNT).

Quant has recently attracted quite a bit of attention after announcing on its Twitter that it has already integrated with a number of central banks, enterprises, and even governments. The project noted that even Europe’s leading payment provider, SIA, also adopted the coin. As a result, the token is now connected to hundreds of banks on the continent.

The project’s team has also been interacting with a number of central banks that were open to integrating QNT into their systems. There are numerous benefits that are followed by Quant integration, such as the ability for businesses to create scalable networks, and even networks of networks.

This is possible due to the fact that the Quant network is highly interoperable, and compatible with many other networks. Not to mention that it provides a very scalable any-to-any interoperability. This means that it can integrate with any legacy system or blockchain out there.

The project also makes it a lot easier to create multi-chain dApps, and have them introduced to various blockchains.

As mentioned, Quant was also accepted by SIA, which functions as the backbone of the entire European financial market. By adding support for the coin, SIA will connect it to nearly 600 banks, including central banks.

Not to mention the fact that SIA is one of only two providers for the Eurosystem Single Market Infrastructure Gateway, with SWIFT being the other one.

On top of that, Quant is now also a guarantor of Pay.UK — the UK’s largest payment network. It is also a supplier for the UK government’s Crown Commercial Services, and it is one of the founders of the INATBA, the European Commission’s International Association of Trusted Blockchain Applications, among other things. In other words, the project is now extremely well connected, as well as adopted and approved by entire governments and their central banks, and it still seeks to enter new partnerships and collaborations down the road.

Tony Spilotro · @tonyspilotroBTC | Nov 25, 2020 | 15:00

As Bitcoin soars toward a new all-time high and has recaptured the interest of the world of finance, a sizable supply of liquidity is building on exchanges, not in BTC, but in stablecoins. The rising supply alongside surging crypto valuations suggests that the recent rally is “liquidity-driven,” according to one cryptocurrency quantitative analyst.

That liquidity as it continues to stack up on exchanges everywhere could soon bring the most “unprecedented buying pressure in history” to the crypto market. Could the likes of Tether and USD Coin be the key to unlocking the prices in Bitcoin that experts someday predict?

Bitcoin price is nearing $20,000, and at this point, the asset has gone parabolic, and most technical analysis has gone out the window. Trendlines no longer hold the unstoppable cryptocurrency back, and indicators have been overheated for weeks on end with not so much as a stumble, let alone a significant pullback.

Beyond technical analysis, fundamental analysis – consisting of quantitive and qualitative analysis – can also be used to determining the health or strength of an asset and its expected performance. Data showing that BTC was moving off of exchanges was perhaps the most useful information leading up to the recent rally.

With no BTC on exchanges to buy and a diminishing supply, a sell-side liquidity crisis played out, sending the cryptocurrency from $10,000 to $20,000 in a few months flat.

With Bitcoin still trending hard and technicals remaining unreliable, quantitative data is king. And according to a leading crypto quant analyst, there is plenty of reason for more upside. In fact, billions and billions of reasons are pilling up on exchanges right now.

According to Ki Young Ju, CEO of Crypto Quant, the stablecoin supply is growing rapidly on cryptocurrency exchanges. This liquidity, he claims, will soon drive “unprecedented buying pressure” in crypto markets. The capital pouring in tells the CEO that the current rally is liquidity-driven, and is set to continue henceforth.

The data is yet another factor backing up the theory that Bitcoin has begun a new bull trend, and could reach some of the astronomical prices that experts predict.

In the past, sharp-eyed crypto analysts notice a correlation between new Tether minted and Bitcoin rallies. That relationship is all due to the liquidity that the stablecoin supplies, which eventually flows into the Bitcoin and crypto market cap.

But liquidity pouring in like never before, things will only get more bullish for Bitcoin and crypto from here on out.

“The achievement of a fully interoperable blockchain network, through our collaboration with Quant Network, is another key element in our path of bringing innovation and state-of-the-art technologies for supporting banks, financial institutions, corporates and public administration bodies to extend their capabilities in integrating different DLT business applications,” said Daniele Savarè, Innovation & Business Solutions Director SIA. Described as a ‘breakthrough’ by SIA, the achievement came with integration of Quant Network’s Overledger technology into the SIAchain private blockchain infrastructure. This leveraged 580 European network nodes within SIAnet (a 200,000km fibre optic network with high-speed and low-latency). The integration makes it possible to bridge permissioned blockchain instances between SIAchain and other external networks – ones which could not be previously connected. The effect is to have cross-platform applications and services delivering (for example): The development of the solution began in mid-2019. The program of testing involved: Quant Network and SIA will now work together on a go-to-market approach. They hope to develop and implement additional use, and applications, which explore blockchain interoperability challenges. “The partnership between Quant Network and SIA has been extremely positive and productive from the very start,” said Gilbert Verdian, CEO, Quant Network, “and both companies are confident that this development will play an integral part in building the financial infrastructure of the future globally.” SIA designs, creates and manages technology infrastructures and services for financial institutions, central banks, enterprises and the public. Among its offerings are solutions for: The SIA Group provides its services in >50 countries. An example of activities is its digitalised (sic) management of sureties based on blockchain technology. Sureties requested by law are mandatory for certain types of economic transactions like calls for tenders in the public sector, supply contracts between companies and payment of advances for the purchase of properties under construction between private individuals. Sureties are often linked to problems involving: SIA’s use of DLT makes it possible to: SIAchain is the private infrastructure created by SIA to develop, in a secure and protected manner, blockchain applications based on DLT. It is a partnership between SIA and R3 aimed at speeding up the global development and adoption of blockchain applications. Quant Network developed its own blockchain operating system – Overledger. It not only interconnects blockchains, but also legacy networks to blockchain. The problem Overledger seeks to solve is that ‘traditional’ DLT lacks seamless inter-communicability internally among ledgers and externally with existing networks. This limitation forces distributed applications to be single-ledger-dependent. From a technology perspective, the fact that distributed or decentralised applications are single-ledger-dependent makes them difficult to select for a specific business purpose.  The Overledger OS proposes to remove this single-ledger dependency, by introducing an approach which enables the design, deployment and execution of multi-ledger decentralised applications. While other approaches exist (for example, Interledger), most such solutions only allow communication between two blockchains at the same time. Overledger, as demonstrated with SIA, is different because it can conduct operations across multiple blockchains In this way, Overledger connects all blockchains and can add an arbitrary hash of a message to a host. By introducing a multi-layer approach via Overledger, Quant Network says it moves information in the layers above, thereby creating a common interface among ledgers. Quant Network and SIA believe their partnership is an important milestone for the finance sector. Their approach will allow banks and financial institutions – through the SIAchain infrastructure – to: These are big claims, and there is a dearth of detail about what has been achieved and how. In addition, the partners will have to contend with offerings from the like of Kadena, LedgerConnect or Polkadot.

With many Bitcoin bulls and hodlers feeling vindicated after the rally to above $19,000 this year, the CEO of blockchain analytics firm CryptoQuant says whale activities are decidedly bearish.

On a new episode of The Coinist Podcast, Ki Young Ju says a key whale ratio is above 95%, which indicates sideways or selling pressure will continue in the short term.

“The whale ratio is calculated by the top ten transactions from users on exchanges divided by the total inflows, and it indicates how many whales there are and how many Bitcoins are deposited from whales. When this value goes above 95%, it means 95% of deposits are from the top ten deposits, and the market is likely to be bearish or going sideways according to historical data.”

Ki Young Ju says that some of the bigger miners are likely influencing some selling pressure with the hopes of keeping the price at a level that discourages other miners from entering the industry.

“Even if I were an OG whale, I wouldn’t want to sell at this price and liquidate just yet, but it looks like some OG whales are trying to sell some Bitcoins. I would say that would be some miners who want to keep prices lower than $20,000. For example, miners have to keep Bitcoin price levels below $20,000 since they don’t want new competitors joining the mining industry. Or some whales, some market manipulators, they want more consolidation.

We can’t understand the purpose of those selling… On-chain data can’t tell us the inflows of institutional spot beats, but it tells us it’s a battle of OG whales versus retail investors.”

The quant analyst goes on to reveal the key things that he would want to see before going long on Bitcoin.

“I think when the whale ratio goes below 95%, and if there are no significant changes on exchange inflows and outflows, especially inflows, and when the whales start withdrawing from exchanges, that’s going to be a short-term bullish signal I would say…

I’m still short-term bearish or going sideways, but the thing that makes me worried is that on-chain data can’t see the spot beat inflows from institutional investors like MicroStrategy and others, so the buying pressure from those spot beats inflows and also sentiment from people… People are [FOMOing]. It’s really scaring me so I’m thinking of closing my shorts if the price is going sideways for about three days.”

Featured Image: Shutterstock/Maria Harvey

Three notable products of the Quant network are GoVerify, Atlas, and TrustTag.

GoVerify serves to verify that any email, SMS, or phone call is legitimate.

Atlas enables cross border open banking. Many of you crypto enthusiasts out there may not like banks. However, banks are currently some of the most powerful and well-funded organizations in the world. As has been evidenced with Ripple, any solution which solves problems for banks can have massive potential.

Enterprises do not want to spend the money, time, or exercise the effort needed to run a node on a new blockchain in order to access multiple other blockchains. The Overledger creates an easy and realistic way for them to quickly access multiple blockchains and internet of things applications with one Operating System.

Think of Overledger like the App Store or the Play Store for multiple blockchains and/or multiple existing types of institutional infrastructure. It has the potential to connect and make use of almost any type of digital system you can think of to another, it’s not limited to just blockchains.

Most enterprise interoperability solutions target just permissioned, centralized blockchains. The Overledger creates a network between enterprise permissioned blockchains, public decentralized, permissionless blockchains, and existing networks.

Connecting existing networks is huge because it means that Overledger is not limited to just crypto to crypto use cases.

The Overledger OS is centralized in that only they have access to their backend and their patented technology. Nevertheless, they enable developers to create MApps connecting decentralized, permissionless blockchains. In this sense, they are using a centralized technology to help spread the use of decentralized technology.

The MApps that Quant Network talk of stand for Multi-chain or Multi-protocol applications. This means that developers can use Overledger to create applications that for example leverage the security of Bitcoin and the smart contract capabilities of Ethereum.

We’ve talked about how Quant is interoperable and simple to use. Like pretty much all crypto projects, they claim to be stable and secure. The difference here is that we have to trust them because their backend code is proprietary meaning no one but them can prove that it is stable and secure until their technology is used on a mass scale by external parties. They further claim that it is fast and scalable. Finally, they call their operating system “future proof”. This aspect is important as blockchains and tech is constantly changing so it’s paramount that the Overledger system maintains its compatibility.

Du Capital Pte Ltd is looking for an expert with a crypto enthusiast. This position is located in Singapore.Company Name:Du Capital Pte LtdLocation:SingaporeJob Description :Crypto Jobs : As a Crypto Quant Trader, you work in a fast-paced, high-intensity environment. Being a trader is for brilliant minds, independent thinkers, energetic doers,. Apply Directly: If you think this is of interest to you, you can apply now directly! Visit. Set up your Resume:Go to our Menu Bar and upload a resume so employers can find you.Stay connected:Follow us to get the latest blockchain job market updates and news from us. Connect with us on:Twitter : / thecryptostreetInstagram : / thecryptostreet Facebook / thecryptostreet

The analyst who first applied the stock-to-flow model to Bitcoin says the top cryptocurrency’s bull market is just getting started despite its recent struggle to stay above $60,000.

In a new tweet, PlanB tells his 347,400 followers he believes that BTC’s current boom cycle is far from over.

“In my opinion, we are only about 4 months into the bull market and nowhere near the end of it. Bitcoin is just getting started.”

The quantitative analyst looks at Bitcoin’s historical performance in terms of momentum to support his argument. According to PlanB, BTC’s relative strength index (RSI), which measures the pace of price movements for a given asset, has not yet reached its peak.

“Bitcoin monthly RSI is not even 95. In 2011, 2013 and 2017 bull markets we had at least 3 months above 95. Still early.”

While PlanB is long-term bullish on the leading cryptocurrency, he says Bitcoin is still facing significant headwinds.

“There are also some real risks left (goverment ban, quantum computing) that have to be dealt with.”

The quant analyst adds that a Bitcoin supercycle, where the largest cryptocurrency would ascend to $1 million, is currently out of the question as he believes that most market participants are irrational.

“In my opinion, markets are not completely rational and thus will not front-run next halving cycle or the S2F (stock-to-flow) model. Greed and fear will take over from ratio at some point.”

Featured Image: Shutterstock/YIUCHEUNG

Bitcoin price is back in the mid-$50,000 range, unable to push any lower despite bears best efforts and overheated technical indicators pointing to a potential trend reversal. However, several fundamental factors are proving to be too strong, and are setting the stage for the next leg up in the ongoing cryptocurrency bull trend instead.

Here’s what rising stablecoin supply says in the face of diminishing BTC reserves on exchanges, and what it could mean for all of crypto.

Cryptocurrencies, like all free markets, are driven by the dynamic forces of supply and demand. Other factors, such as regulatory, political, environmental, and economical issues can also have a dramatic impact.

Two examples of one extreme or another, include the Black Thursday market crash due to pandemic panic, and the polar opposite move to the upside due to a BTC supply shock.

A shift in avalaible supply and increasing demand for Bitcoin, has brought the price per coin to more than $60,000 at the high. Technicals have been mostly overheated the entire way up, and are reaching a boiling point.

Yet prices still aren’t falling any deeper than the mid-to-low $50,000 range, and it could be due to just how strong fundamental factors are currently.

Among the factors keeping Bitcoin price action afloat despite technical momentum indicators turning sharply down, is the continued lack of BTC on crypto exchanges. The liquidity crisis that has driven up prices so far, remains a vital factor in the buoyancy.

Next, stablecoin supply has been steadily rising again, one of the primary factors behind each bullish impulse on the way up. Quant analysts have said that fresh USD was necessary to push higher, however, an increase in stablecoins could shift more capital into Bitcoin, and have a similar impact.

If the leading cryptocurrency by market cap can sustain the current support levels and keep several bearish technicals at bay, then another leg up is the only way ahead. A continued rise could squeeze shorts at current all-time highs, causing prices to return to their parabolic trajectory.

If not, however, technicals will have outweighed fundamentals for the first time during the bull market, and it could result in the first more sizable correction since it all first began.

Will the increasing supply of stablecoins and low BTC reserve be enough to shake off momentum flipping bearish?

A minor Bitcoin ‘flash crash’ on Wednesday caused BTC to fall roughly $2000 in five minutes, triggering a wave of liquidations. According to CoinTelegraph, the crash from $59,350 to $57,000 was somewhat unusual on an otherwise calm day in crypto markets.

The flash crash was bad news for long traders. The crash, which lasted just over an hour, caused liquidations of long positions worth some $600 million. Over the 24-hour period preceding the crash, crypto markets saw a total wipeout of $1 billion.

Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen!

— Michaël van de Poppe (@CryptoMichNL) March 31, 2021

The flash crash was a disruption in the bullish run that Bitcoin has enjoyed this week after news of Paypal and Visa entering the crypto sphere in more serious ways.

Quant analyst PlanB wrote on Twitter that the crash helped to eliminate unwanted leverage in the markets, and therefore may have been ultimately healthy for Bitcoin. “Beautiful stop loss hunting… again,” PlanB wrote on Twitter. “Now that all leveraged longs are liquidated, we finally have room for breaking $60K in April.”

But, could Bitcoin really break $60K in April? Many analysts seem to agree that it is possible. However, the short-term path forward is a bit unclear.

Want to Stay Ahead of the Curb in 2021? You’ll Need Your Data in Real TimeGo to article >>

— Chris Dunn (@ChrisDunnTV) March 30, 2021

CoinTelegraph reported that: “funding rates across derivatives platforms were higher on the day, reaching as high as 0.375% on Huobi, a classic sign that downward pressure is incoming.”

However, if Bitcoin can manage to break through its most recent all-time high, some analysts agree that BTC could go parabolic. Earlier today, Finance Magnates reported that $73,000 and $92,000 will become Bitcoin’s next ‘points of interest’ if the price breaks above its current all-time high of roughly $61,000.

– No, this bull-run isn't close to being over – Yes, the insanity for Altcoins yet have to come pic.twitter.com/bN5CCYca3f

— CryptoAmsterdam (@damskotrades) March 31, 2021

Approximately three hours after the flash crash began, Bitcoin appeared to be on the road to recovery. At press time, BTC was changing hands at $58,276.40.

Marc P. Bernegger started his first internet company in 1999 and had two successful exits. He began working with Bitcoin in 2012, is on the board of Crypto Finance Group, Swiss Blockchain Federation and CfC St. Moritz and is a member of the World Economic Forum’s (WEF) Expert Network for blockchain. The recent CoinDesk opinion article “10 Reasons Quant Strategies for Crypto Fail” by Jesus Rodriguez makes for a great headline, but it overlooks relevant developments and key data in the sector.  While Rodriguez makes reasonable points about the weakness of quant technology for crypto, a growing number of professional crypto quant fund managers address these through their strategies, demonstrating clear success. Going forward, crypto assets are set to become the perfect asset class for quant strategies. By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.See also: Crypto Long & Short: The Surprisingly Sunny Outlook for Crypto Hedge Funds The 2020 PwC–Elwood Crypto Hedge Fund Report says the most common crypto hedge fund strategy (48% of those surveyed) is quantitative (or taking a systematic approach to the market in either a directional or a market neutral manner), followed by discretionary long only (19% of funds; meaning funds that are long only and whose investors have a longer investment horizon), discretionary long/short (17% of funds; meaning funds that cover a broad range of strategies including: long/short, relative value, event driven, technical analysis and some strategies that are crypto specific, such as mining), and multi-strategy (17% of funds; meaning funds adopting a combination of the above strategies). To understand why almost half of all crypto hedge funds worldwide are focused on quant strategies requires a look at the broader (crypto) hedge fund sector. It is important to note that the models used by quantitative funds usually extend beyond digital asset datasets. Many quantitative crypto fund managers come from the traditional finance world, their strategies are defined based on decades of data from traditional asset classes, and these strategies are tested thoroughly before being applied to the crypto market.  Additionally systematic strategies are superior to human decision-making procedures in an environment of irrational and volatile markets, which is definitely the case with most cryptocurrencies. The crypto market is still dominated by traders making decisions by monitoring the price action on the charts. This increases the strength of trends and favors a quantitative approach based on time series analysis. Traders can retrieve a vast amount of  information by analysing digital asset datasets – particularly when taking on-chain metrics into account (e.g. transaction values, miner fees, etc.). That can be used by quantitative funds to garner some element of predictability instead of relying on technical price data alone. While Rodriguez makes reasonable points about the weakness of quant technology for crypto, a growing number of professional crypto quant fund managers address these through their strategies. With outliers, most quantitative strategies can take advantage of the short-term inefficiencies presented by digital assets and actually profit from the outlier events. The key attraction of many quantitative funds is their informational market advantage and the hedging capabilities they offer, particularly during down-markets. As such, outliers may present a challenge, but these periods have been proven quite profitable for some quantitative crypto funds as evidenced by their track records. Quant funds that generally trade very liquid exchange-listed crypto assets provide better liquidity to investors than a fundamental investor targeting early-stage projects or a multi-strategy, where the fund manager needs to consider the various strategies and instruments in its portfolio. Most serious and regulated systematic crypto hedge funds are quite transparent with their numbers so investors are able to find actual assets under management or monthly performance figures on platforms like Barclay Hedge or Nilsson Hedge. Based on available data, systematic crypto funds are outperforming “passive HODLing strategies” (meaning long only), discretionary long/short and multi-strategies significantly and generate sustainable alpha: In 2019, the average crypto hedge fund performance by strategy was as follows: Quantitative +58%Discretionary Long/Short +33%Discretionary Long Only +42%Multi-strategy +19%  In 2018, which was a very challenging year for digital assets, quant trading was the only strategy generating positive returns: Median quant fund +8%Median all funds -46%Median fundamental fund -53%Median discretionary fund -63%Bitcoin -72% So looking at the performance of crypto hedge funds in 2018 and 2019, it is obvious that crypto quant funds are working. A growing number of investors, including more and more fund of funds, are investing in systematic crypto hedge funds and crypto quants exclusively, which enables the whole ecosystem to evolve quickly. With most regulated crypto hedge funds that accept money from external investors being quite transparent about fund performance and assets under management, the growth in investments is becoming apparent. Increases in assets being allocated to crypto hedge funds in the last few months and increasing indications that bitcoin is a digital store of value and a new hedge against inflation, show that the demand from investors is accelerating. A majority of today’s crypto hedge funds, including crypto quants, were created less than three years ago, illustrating that this industry is still very young. See also: Jesus Rodriguez – 10 Reasons Quant Strategies for Crypto Fail Assets under management of crypto funds worldwide doubled from 2019 to 2020 (from $1 billion to $2 billion) and there are clear indications that they will roughly triple till the end of this year. A big part of this new money will be allocated to systematic crypto funds. As CoinDesk’s Noelle Acheson wrote recently, “the outlook for crypto hedge funds is sunny.” Investing in a crypto hedge fund instead of direct investment in the market is a more attractive option for many investors: they do not need to worry about custody, best execution, or liquidity crunches. These elements can be especially important for traditional investors, who are not deeply involved in the underlying technology and look at crypto assets primarily as a new alternative asset class to diversify their existing portfolio. With these arguments, and professional crypto quant fund managers that address known challenges with their strategies to achieve both performance and growth today, the potential for systematic crypto funds to surpass other investment strategies and outperform the market by the end of 2020 looks increasingly probable. Opinionquantitative financeDisclosureThe leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.What is undefined?

Bitcoin on Monday suffered its biggest single-day price decline in more than two weeks, after the fizzing of a retail trader-driven rally over the weekend that analysts said was notable for its lack of participation by institutional investors. 

At press time, bitcoin’s price was changing hands around $56,671.15 after it tumbled to $54,790.33 during Asian trading hours earlier Monday, down 11% from Saturday’s record high at $61,556.59.

Read more: Nearly $40B in US Stimulus Checks May Be Spent on Bitcoin and Stocks: Mizuho Survey 

“This sell-off happened right around the start of trading hours in Asian capital markets,” John Willock, chief executive at digital asset exchange Blocktane, said. “So it is likely that traders there repositioned themselves for the start of the week, post run-up.”

According to data from crypto derivatives analytics site Skew, bitcoin futures open interest on major retail platforms reached new all-time highs over the weekend. On the institution-driven CME’s bitcoin futures contract, however, open interest was lower compared with levels at the end of February, when bitcoin’s price pierced $58,000 for the first time.

“The fresh all-time high on Saturday above $60,000, coupled with the closure of traditional markets that has recently kept bitcoin yoked, meant a hopeful chase by retail participants,” Singapore-based quant firm QCP Capital wrote in its weekly market update on March 15. Funding rates on bitcoin perpetual futures – the fees traders pay for the leverage embedded within the trading instruments – rose to 200% on an annualized basis, considered an “unsustainable” level, according to QCP.

The lack of support from institutional investors in the recent rally was also apparent from the so-called Coinbase premium. The indicator, as tracked by the South Korean blockchain data-analysis firm CryptoQuant, measures the spread between Coinbase’s BTC/USD pair and Binance’s BTC/USDT pair. Over the weekend, it went negative, implying weak institutional demand.

Read more: DeFi Projects Cream Finance, PancakeSwap Hit With ‘DNS Hijacks’ 

That dynamic contrasted with the apparent surge in institutional participation during a rally last month. 

After bitcoin broke above key psychological levels at $30,000 in January and $50,000 in February, the Coinbase premium saw huge jumps, showing a strong follow-up demand from institutions, according to Du Jun, co-founder of crypto exchange Huobi.

Trading volume during the rally over the past few days was muted, based on data from eight major spot crypto exchanges tracked by CoinDesk. It was nothing like the surge in volume that came with last month’s price swings.

Ether (ETH) was down on Monday, trading around $1,789.53 and sliding 4.13% in 24 hours as of 20:00 UTC (4:00 p.m. ET).

The No. 2 cryptocurrency by market capitalization is still largely driven by bitcoin’s price action.

The ether-to-bitcoin ratio dropped to near 0.030 since the weekend, after it rose to 0.046 in the beginning of February, the highest since August 2018.

Read more: ‘Analysis Ongoing’: Nifty Gateway Addresses NFT Security Concerns

“Ether, taking cue from bitcoin, failed just under the huge $2,000 spot level,” QCP wrote in the market updates. “We expect it to largely underperform bitcoin from here.”

Similar to bitcoin, ether’s spot trading volume remained flat after it spiked in late February – a low-volume price rise is usually short-lived.

On the derivatives market, ether futures contracts open interest on major exchanges – although higher to around $6.3 billion – was not nearly as high as the $7.1 billion level during ether’s last big rally to about $2,000.

Digital assets on the CoinDesk 20 are mostly in red Monday. Notable winners as of 20:00 UTC (4:00 p.m. ET): 

Notable losers:

Reading: Ethereum Just Shot Up $250 But Don’t Bet on That Resistance Breaking Ethereum 2.0 seems to be confirmed to happen soon as deposits in the contract spike. Ethereum 2.0 Nears as Deposits Spike There is now 80% of the ETH needed to launch the upgrade by... Nick Chong | 10 hours ago Analysts think that Ethereum is primed to press higher despite last night’s $40 drop. One analyst noted that Ethereum remains in an extremely advantageous position on a macro... Nick Chong | 5 days ago Ethereum could undergo a stronger drop in the days ahead, analysts say, as the cryptocurrency slides below key support levels. Ethereum Loses Key Support Level on a Short-Term Basis...

Nick Chong | Dec 08, 2020 | 10:00

Bitcoin has undergone an extremely strong rally since the March lows. The coin has moved from the $3,000s to $19,900 at the local high for a rally of nearly 500%.

Even still, analysts are hopeful that further growth is on the horizon for the flagship cryptocurrency. One top Bitcoin quantitative analyst “PlanB” recently noted that Bitcoin’s price action in relation to its 200-weekly moving average (simple MA) looks similar to how it did in late 2016 or early 2017:

As many remember, BTC rallied from around $800 at the start of 2017 to $20,000 by the end of the year. BTC looking structurally similar now may suggest that a similar or comparable spurt of growth is on the horizon.

Another chart the analyst shared recently also shows that Bitcoin’s relative strength index (RSI) looks extremely similar to where it was at the start of the parabolic phase of the last cycle.

Bitcoin is also at a similar point to 2017 from a cyclical perspective, namely in that the halving before last took place in mid-2016 and the last halving took place in mid-2020. The cyclicality of Bitcoin suggests that it will soon begin a similar rally.

Core to PlanB’s bullish sentiment is the stock to flow price model, which basically suggests that BTC’s price action is related to its inverse inflation rate. The scarcer the BTC, the higher the price, the model suggests.

His original model predicts that Bitcoin’s market capitalization will hit $1 trillion, or $55,000 per coin, in 2021:

An updated model of his estimates a $100,000 price by the end of 2021, just 12 months away.

Some have pushed back against the model, though many do agree that an increase in demand meeting a decreasing supply should result in higher prices over time.

The world’s most popular crypto attracts significant buying pressure from leading global brands.

Long-time investors of the world’s most popular Crypto are refraining from selling their holdings amid the fact that Bitcoin has rallied by more than 800% within a year.

According to Glassnode’s “BTC Percent Supply Last Active 2+ Years” indicator, Bitcoin was last moved well over two years ago and reached a three-month low of 45.364%.

READ: Bitcoin posts highest monthly transfers ever

This comes as no surprise as the world’s most popular crypto attracts significant buying pressure from leading global brands that include Tesla, Microstrategy, and Square.

Also, research by Nairametrics reveals that oftentimes, when this type of investors deposit Bitcoin on Crypto exchanges to sell immediately, they eventually don’t sell these assets as the number of entities holding them remain concentrated.

Adding credence to such bias is data from Crypto quant revealing that another $654 million worth of Bitcoin (12,300 BTC) has left Coinbase.

READ: Bill Gates says he doesn’t own Bitcoin, remains neutral about crypto

— Bloqport (@Bloqport) March 26, 2021

The number of retail investors keen on holding the world’s most popular crypto asset is on record high as Bitcoin’s number of addresses holding 0.1+ Coins just reached an all-time high of 3,223,643.

View metric:https://t.co/hZY8dBLpzX pic.twitter.com/CudvF5MHrO

— glassnode alerts (@glassnodealerts) March 29, 2021

As Bitcoin’s Percent Unspent Transaction Output in Profit (7d MA) just reached a 1-month low of 96.606%.

The $trillion dollar crypto asset at the time of writing this report traded at $56,186.41 with a daily trading volume of $48 Billion. Bitcoin is up 0.17% for the day.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

Crypto traders and investors can trade these sports tokens on Crypto exchanges like Chiliz.net, Binance and others.

A growing number of football teams are now venturing into crypto for obvious reasons. With a Covid-19 battered global economy, football teams have had their stadium gates closed in compliance with lockdown measures aimed at curtailing the spread of the virus, leading to billions of dollars in losses.

Data from Deloitte, revealed that major football league clubs will have lost over €2 billion in revenue by the end of the 2020/21 season, including amounts foregone in respect of 2019/20, as a result of the COVID-19 pandemic, primarily due to:

READ: Cristiano Ronaldo becomes first footballer to earn Crypto

Taking into account that the top 20 football clubs generated a combined €8.2 billion in 2019/20, down 12% on the prior season (€9.3 billion), it then becomes unsurprising that football clubs would be searching for other revenue channels and innovative strategies to keep their fans engaged.

Sports teams take advantage of the feeling of ownership exhibited by their fans. It is logical, therefore, for football teams to explore avenues that strengthen fan loyalty and their passion for the game.

Juventus the best-supported football club in Italy became the first team offering the world’s first fan token.

Holders of the Juventus Fan Tokens ($JUV) will be able to vote on some specific decisions made by the club, such as changes to the club’s jersey. They can also earn rewards while doing so, as well as access exclusive content and memorabilia.

READ: Ex-Real Madrid Striker, David Barral becomes first-ever footballer to be bought with Bitcoin

Recall that the world’s highly respected footballer, Cristiano Ronaldo collected about 770 Fan Tokens ahead of Juventus’ match against Benevento some weeks ago, as a way of marking his record-breaking goal milestone.

It is the first time a footballer has been rewarded with Crypto, which is becoming a prominent feature in the interaction of fans with the world’s most popular sport.

A growing number of fans holding the leading Italian football team’s token are obviously smiling to the bank. At the time of writing this article, the fan token has already generated returns of about 596.98% within a span of 11 months according to Coinmarketcap.

Barcelona FC has also seen its token rise by over 1,500% since its launch at $2; and now trades at about $35 (at the time of writing this article), posting massive gains to holders of such asset.

Manchester City Football Club is the latest football club exploring sports fan tokens. Registered Manchester City fans can use these tokens to get rewards or giveaways organized by the football club, play mobile games, access promos, and vote on the club’s polls.

READ: Cryptos likely to gain at least 1000% very soon

Besides Manchester City Football Club, Barcelona and Juventus, other clubs that have signed deals with Socios.com, a first-of-its-kind mobile app for football fans to vote on club-specific decisions, include AC Milan and Paris Saint-Germain.

Manchester City Football Club has announced that it will be rewarding all registered fans with free $CITY Tokens. Such offering is seen as a reward for fan loyalty and, therefore, increases the clubs’ engagement with their fans. Other teams like Liverpool Chelsea, Arsenal, and Manchester United are also towing the path.

The use of crypto in sports will also address geographical challenges and trigger the global expansion of sports and teams. Football clubs are now using blockchain to facilitate better experiences for their fans and presently, Chiliz is the crypto used in buying these sports fan tokens.

Crypto traders and investors can trade these sports tokens on Crypto exchanges like Chiliz.net, Binance and just recently, HitBTC added AC Milan (ACM), Juventus (JUV) and Paris Saint-Germain (PSG) fan tokens to their platform.

We have successfully added AC Milan (ACM), Juventus (JUV) and Paris Saint-Germain (PSG) Fan Tokens to our platform.

Trade $ACM, $JUV and $PSG against $USDT, visit: https://t.co/nGfrMnquKU pic.twitter.com/DpeoEAoojJ

— HitBTC (@hitbtc) April 2, 2021

Nairametrics anticipates that such engagements with these football clubs via blockchain will open more economic opportunities and leverage the wider audience via collaboration with the industry’s global brands.

However, as this market segment grows and becomes increasingly concentrated, Crypto education also becomes necessary. Supporters of the most popular sport games need to adapt and work adaptively with their respective football teams in utilizing these tokens more efficiently rather than for just speculating price movements.

A crypto expert has highlighted 2 crypto assets that he expects would likely push higher in the near term.

Tyler Swope a highly revered crypto trader recently announced some relatively unknown crypto assets via his YouTube channel that he anticipates would likely push higher in the near term.

On the YouTube video, he started by endorsing Chainlink’s (LINK) node service provider LinkPool (LPL), adding credence to its strong structure within the niche segment it occupies.

His next pick was Alchemist Coin (MIST) a non-fungible token (NFT) project, on account that it could permit early users to get limited edition NFTs known as crucibles. These first version non-fungible tokens could help owners with major value in the future as the protocol grows, notes Swope.

READ: Investor buys first Crypto artwork for $70 million

“The proposal is overwhelming, yes, and ended today. It proposed, that v1 (first version) crucibles be limited to those using the terminal or PowerShell… a.k.a technical user. Once the frontend UI (user interface) launches, those users will get v2 (second version) crucibles using that interface. The crucibles, are NFTs, thus having a v1 limited edition could be a valuable thing down the road.”

Davis, a top crypto strategist also highlighted his bias that altcoins could provide investors with incredible returns and why investors should not just focus on the flagship crypto.

“2021 is seriously one of the biggest opportunities of your financial life. The potential for life-changing money to change your financial destiny in 2021 is incredible.

“But here is the truth, if you just buy Bitcoin, you are not going to see the exponentially huge gains. You will get decent returns but if you want to make the big money you got to invest in altcoins.”

Du Capital Pte Ltd is looking for an expert with a crypto enthusiast. This position is located in Singapore.Company Name:Du Capital Pte LtdLocation:SingaporeJob Description :Crypto Jobs : Establishing connectivity to crypto exchanges and assist with data pipelining. Keeping up to date with the latest trends and staying knowledgeable in the. Apply Directly: If you think this is of interest to you, you can apply now directly! Visit. Set up your Resume:Go to our Menu Bar and upload a resume so employers can find you.Stay connected:Follow us to get the latest blockchain job market updates and news from us. Connect with us on:Twitter : / thecryptostreetInstagram : / thecryptostreet Facebook / thecryptostreet