New Trend Will Trigger 10,000% Surge in Select Group of Crypto Assets, Says Bitcoin Bull Lark Davis

New Trend Will Trigger 10,000% Surge in Select Group of Crypto Assets, Says Bitcoin Bull Lark Davis

Bitcoin bull and crypto influencer Lark Davis is unveiling the next big thing in crypto that he believes has the potential to ignite a massive surge of 100x or about 10,000%.

Davis says the crypto market will continue to offer new and profitable opportunities as it evolves and expands beyond the red-hot decentralized finance (DeFi) sector.

“So NFTs (non-fungible tokens) is one such area that is getting a lot of attention right now and could be a big growth area, and it’s certainly an area that we, as investors, maybe want to be paying attention to.”

According to the crypto researcher, NFTs are unique tokens that represent ownership in a particular asset.

“A fungible item is one that can be exchanged for any similar item. For example, a dollar bill is fungible because it can be exchanged for any other dollar and maintain the same value. However, something like a ticket is non-fungible because even though we could, for example, trade our ticket for someone else’s ticket, well it’s not going to be exactly the same, is it? Maybe that other ticket’s for a different film, or it’s the same film but at a different time… It’s not equal, is the point. Each ticket gives you access to a unique set of experience…

If we move this idea into the blockchain setting, an NFT is thus a one-of-a-kind token, a certificate of digital authenticity verifiable on chain.”

Lark explains that NFTs offer a wide array of use cases for investors, including ownership in digital art, in-game items such as virtual lands, and skins as well as collectible items such as card decks and virtual pets.

The crypto researcher also highlights that NFTs can extend their reach beyond the realms of art and gaming. Lark sees non-fungible tokens being used in royalties, insurance, and many other enterprise solutions including tokenizing invoices in order to take out a loan.

While investors who want a position in the emerging space can simply buy NFTs, Lark emphasizes one particular opportunity that can deliver worthwhile gains.

“Perhaps the most financially lucrative use case for NFTs is going to be plugging into DeFi. Maker DAO is already working on bringing music royalties and shipping invoices into their platform… One that I’m keeping a close eye on is called Persistence. Now, this is a new player coming to Cosmos which will be focused on bringing in enterprises into both the NFT and, of course, into the blockchain world, looking at DeFi and how we can bring those NFTs into DeFi. So this is definitely one that I’m keeping an eye on…” 

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Source: dailyhodl.com


Chainlink, Cosmos, Ontology Price Analysis: 22 September

Chainlink, Cosmos, Ontology Price Analysis: 22 September

Chainlink looked poised to post further losses, as the 15% plunge over the weekend was just one of the many drops in the past month for LINK. Cosmos had been in a brief period of indecision before bears prevailed and pushed ATOM downward. Ontology validated a bearish pattern but in the next few hours has a chance to witness a bounce. In the case of the world’s most dominant cryptocurrency Bitcoin, the coin’s price did see a correction of 1 percent and is now being traded at $10,482.

Zooming out on the charts for a better perspective, the 4h chart offered some interesting hints. Using VPVR we can see that the support beneath LINK is more significant than the resistance overhead. Which is to be expected because price only traded above the $10 mark for a month before falling beneath.

The regions to watch out for to the downside are $8.5 and $7.5, while resistance lies at $10, $10.8, and $12.3.

A slide beneath $8.5 could take the price to support at $7.5 and $7.15.

In the short-term, LINK can be expected to consolidate at $8.5 before a move to either side occurs.

In other news, Orchid has extended its collaboration with Chainlink with the announcement of a second oracle, created together with Chainlink, live on the mainnet. Chainlink was chosen because it “delivers highly accurate, manipulation resistant price data.”

Support at $4.85 served well to stall ATOM’s descent in the past couple of weeks. ATOM tried to rise past resistance at $5.45 but was quickly forced under.

In the two weeks hence, the price has consistently set lower lows and lower highs and is set to continue to post losses.

Aroon indicator has indicated a strong downtrend for the past month, broken in brief intervals but in general a market trending lower. At press time, it indicated more of the same, with the price registering new (recent) lows and consequently, Aroon Down (blue) crossing and staying above Aroon Up (orange).

After forming the Adam and Adam double top, highlighted by the cyan arrow, ONT was projected to drop to $0.66. ONT was trading at $0.63 at press time.

RSI showed a value of 28. A bullish divergence, highlighted by the white lines, was spotted. Price made lower lows while RSI made higher lows, suggesting a bounce was likely imminent.

Yet the overall outlook for the asset remains bearish, with the next level of support at $0.545.

Source: cryptotimeless.com

Author: by admin


Crypto VC Thinks Yearn.finance (YFI) is the

Crypto VC Thinks Yearn.finance (YFI) is the “Future of DeFi”

Yearn.finance (YFI) has been one of crypto’s biggest success stories of recent months. Since launching in June for free, the cryptocurrency has rocketed as high as $44,000, becoming one of the fastest cryptocurrencies to reach $1 billion in market capitalization of all time.

YFI has undergone a strong decline over recent weeks in tandem with Bitcoin, Ethereun, and other DeFi coins.

However, a prominent venture capitalist in the space thinks that YFI is the future of DeFi, thus making it also the future of finance.

This is a sentiment in line with many other analysts in the space who see Yearn.finance as a

Lou Kerner, partner at CryptoOracle, thinks that Yearn.finance is the future of DeFi and finance.

He recently published an extensive blog post on the matter on September 20th, in which he stated that YFI is the “most interesting and expansive project” he’s ever seen in the crypto space:

“Yearn is so impressive because it takes the massive opportunity and remarkable complexity of DeFi, makes it simple to use, while deeply integrating with leading DeFi protocols (e.g. Uniswap & Curve), and leveraging community as a powerful moat.”

In the 3+ year I’ve been crypto 24/7, yearn is the most interesting and expansive project I’ve seen https://t.co/cRQL9kVPUu

— Lou Kerrrrnerrrr (@loukerner) September 21, 2020

What future awaits cryptocurrencies?
GOODBAD

A key reason why he’s so optimistic about Yearn.finance and YFI is due to a new product announced by the project’s founder, Andre Cronje. The product is StableCredit, a “single sided decentralized lending protocol.”

Kerner thinks that if StableCredit is properly executed, ” it will be a game changer, and a blackhole for liquidity.”

With Yearn.finance’s fundamentals stronger than ever, it’s worth asking what price YFI will reach over time. The coin has already seen an exponential explosion in its value but there are some think it has room to run.

Mechanism Capital, a crypto-asset fund headed by Andrew Kang, recently tackled this question in an extensive blog post. The firm found that by applying an opimistic discounted cash flow model for YFI, it can be said that the coin will reach over $300,000:

“Our bullish DCF case yields prices of $241k and $315k, depending on whether a performance fee is applied to yToken revenue. A TVL of over $150 billion by the end of 2024 is certainly aggressive — that’s almost 3x the current market cap of ETH! — but given the growth of stablecoins & vaults that we have already witnessed and the fact that we have only implemented a fraction of potential strategies that are planned we do not believe that this scenario is out of the question. We also don’t want to forget that tokenized real world assets are beginning to enter DeFi.”

Source: www.newsbtc.com

Author: Nick Chong


African Crypto Adoption Causes

African Crypto Adoption Causes “Raised Brows” Over Regulation –

News |

September 23, 2020

African crypto adoption has boomed beyond expectation in 2020 and is causing a bit of stir of about the somewhat overbearing regulatory response.

2020 has seen an acceleration in African crypto adoption, with the continent emerging as the second-largest region for peer-to-peer (P2P) trading, and two African nations ranking in the top eight of the Chainalysis crypto adoption index.

However, the booming growth has caught the attention of Africa’s financial regulators, sparking concerns that a rush to introduce heavy-handed oversight could quell innovation in the local crypto industry.

Nigeria has led the continent’s growth in 2020, posting weekly P2P volumes of between $5 million to $10 million, followed by Kenya and South Africa with between $1 million and $2 million a week each.

Speaking to Cointelegraph, a representative of top P2P exchange Paxful stated that Africa has been its strongest growing region in 2020, noting there was also dramatic growth in smaller economies like Ghana, and Cameroon.

Centralized exchanges have also reported a spike in trade activity, with Luno reporting $549 million worth of combined volume from Nigerian and South African customers last month — a 49% increase compared to the start of 2020. The exchange also notes that new customer sign-ups have increased by 122% from the fourth quarter of 2019 until Q2 of 2020.

Marius Reitz, Luno’s general manager for Africa, told business publication Quartz that the increasing demand for crypto is being driven by the benefits that virtual currency offers over the notoriously exclusive local banking sector.

Reitz notes that crypto assets are seeing increasing popularity among Africa’s large community of workers who live away from their home countries, with the steep fees on foreign exchange across the continent driving these migrants to explore crypto assets.

“The demand we see now is a result of the challenges that people experience across Africa.”

Lagos-based BuyCoins exchange has also noticed growth in “people trying to move money in and out of the country” with the exchange hosting $110 million in crypto volume this year, up from $28 million during the entirety of 2019.

However, the increasing popularity of crypto has also brought greater regulatory scrutiny — with African lawmakers analysts appearing divided on how to best respond to the crypto phenomenon.

In April, South African regulators proposed regulations that would impose strict licensing and monitoring requirements but do not recognizeng crypto assets as legal tender. Last week, Nigeria’s Securities and Exchange Commission (SEC) proposed guidelines that would treat all crypto assets like securities by default.

Stephany Zoo of the Kenya-based exchange Bitpesa welcomed the consumer protections that will come from increased regulation. “It is important that the space is regulated and properly guided by the financial authorities to ensure confidence and protection of the consumer,” he said.

But Reitz warned that hasty, heavy-handed regulation could crush innovation within the sector:

“What we’d like to see is a phased approach. It can be very easy for regulators to want to regulate the entire industry from the onset but it could stifle innovation. Once governments regulate better, there’s more chance of opening up integration with traditional financial infrastructure and there would be more mass adoption as well.”

This article is sourced from:https://cointelegraph.com

Source: africancryptonews.com

Author: Comfort Obey


Litecoin Successfully Activates Segwit

Litecoin Successfully Activates Segwit

September 23, 20200 Comments

Litecoin is the biggest digital currency to successfully activate segwit which went live around 6 PM London time on the 10th of May 2017 with segwit transactions now available for use depending on the litecoin wallet.

The upgrade was overall smooth, despite a slight hiccup with one miner, F2Pool, which for a brief period returned a BTC template to LTC miners, an oversight that was quickly fixed with no known problems at the time of publishing.

It is now immediately available to use if your service provider has upgraded to support segwit with Charlie Lee, Litecoin’s founder, tweeting out the first segwit transaction minutes after its activation.

First SegWit transaction on Litecoin!https://t.co/QTJAMDlC8s

— Charlie Lee [LTC⚡] (@SatoshiLite) May 10, 2017

The transaction is somewhat heavy, taking up 3KBs of space when average transactions use around 300-400 bytes. However, Marek Palatinus, Slush Pool founder, tweeted out a segwit transaction undertaken by a Trezor hardware wallet which had an average size.

The Lightning Network (LN) is now to be deployed, a second layer protocol on top of litecoin which can handle thousands of transactions per second by using the base, on-chain layer, only as a settlement for payments.

Charlie Lee publicly stated there were around six LN versions working on litecoin, including from developers at MIT and Blockstream. Most of them are however at command interface levels with GUI wallets expected soon.

After LN deployment, the roadmap of Bitcoin Core developers is expected to be followed. That is further capacity compression through Schnorr signatures which aggregates signature data, MAST, which aggregates scripts, and other optimizations mainly focused on complex multi-signature transactions to support layer two protocols.

The upgrade has generally been uncontroversial in the litecoin community and seemingly overwhelmingly supported by litecoin users. After some public debate between miners and developers, they all agreed to upgrade the network on the condition that on-chain capacity would be increased if blocks reach 50% capacity.

Soon after that agreement, segwit was locked in two weeks ago with almost all of the hashrate support, turning the upgrade into a flag-day event. In anticipation, price increased by 40% yesterday, from around $22 to a high of $38.

Once segwit was activated, the price fell to a low of $28, somewhat stabilizing today at around $32. That’s after rising from around $4 two months ago once the segwit activation process began.

The upgrade has gained the attention of the bitcoin community due to their own scalability debate which remains unresolved after two years. Litecoin hopes to show them how LN works in practice, but whether that will make any difference remains to be seen.

Jonas Borchgrevink edited this article for CCN.com. If you see a breach of our Code of Ethics or find a factual, spelling, or grammar error, please contact us.

Source: cryptonewshubb.com

Author: by admin


Apex Crypto News - Are we dumb? Financial illiterates ‘twice as likely to own crypto’

Apex Crypto News – Are we dumb? Financial illiterates ‘twice as likely to own crypto’

A report from Canada’s central bank shows that while most Canadians are knowledgeable about basic finance and Bitcoin, few actually hold any crypto assets.

According to the results of Bank of Canada’s 2019 Cash Alternative Survey published in August 2020, financial literacy is positively associated with the awareness of cryptocurrencies but negatively associated with ownership.

The bank considers financial literacy as a basic understanding of investing and saving for retirement, with 47% of respondents from August to September 2019 estimated to have a high level of financial literacy and 18% a low level. The results suggest that Canadians with a lower level of understanding of finance could be twice as likely to invest in crypto assets.

“93 percent of Canadians with high financial literacy are aware of cryptocurrencies, as opposed to only 72 percent of those with low financial literacy,” the survey results stated.

“Conversely, 8 percent of those with low financial literacy reported they own cryptocurrencies compared with 4 percent of Canadians with high financial literacy.”

Based on the survey, the bank estimated that roughly 84% of Canadians overall have at least heard of cryptocurrencies, with 5% owning Bitcoin (BTC) or altcoins.

“Awareness and ownership tend to be highest among young, male, university-educated or high-income Canadians,” the bank stated.

This data is supported by a Feb. 2020 report from financial group ING’s Think Forward Initiative, which is based on a 2018 survey of people from 15 different countries including the United States, Australia, the United Kingdom, and members of the European Union.

“Our estimates reveal that the more financially literate are less likely to own cryptocurrencies,” the report stated. “They are more likely not to intend to own them in the future.”

Specifically, the group estimated that a “one standard-deviation increase” in a participant’s financial literacy score — based on knowledge of inflation, simple interest, compound interest, and financial risk — decreased the predicted probability of owning crypto assets from 8.63% to 5.7%. In addition, a similar increase in the score showed the chances of those surveyed intending not to own any crypto in the future also increased.

“A large part of the cryptocurrency market [is compromised] of unsophisticated investors with lower financial literacy skills. These investors are likely to overestimate the reward prospects in cryptocurrencies and underestimate the risk involved in related investment.”

However, some data suggests that many investors are shying away from crypto due to a lack of cryptocurrency literacy. Trading and investment platform eToro conducted a survey in 2018 that revealed that 44% of online investors polled were not trading crypto because they felt they lacked the proper education. A similar study conducted by Grayscale in 2019 found that U.S. investors would be more likely to invest in Bitcoin if there were more educational resources available on crypto.

And there is also evidence that some of the most financially literate people in the world are investing into cryptocurrencies. Research from Fidelity Digital Assets shows that 36% of nearly 800 institutional investors polled are invested in digital assets. A whopping 80% of those surveyed find at least something appealing about crypto.

Source: apexcryptonews.com


New Trend Will Trigger 10,000% Surge in Select Group of Crypto Assets, Says Bitcoin Bull Lark Davis


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