Month: April 2021

Social Trading Platform Enso Finance Raises $5M in Funding Round 

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Key Takeaways Enso Finance has raised $5 million from Polychain, Dfinity Beacon Fund, Multicoin Capital, and other key industry players. Enso Finance is a DeFi tool for creating permissionless trading strategies. It’s hoping to make DeFi more frictionless and accessible. The project will initially launch on Ethereum, though it has plans for “multi-chain support” to follow. Share this article Soon-to-launch social trading platform Enso Finance gets a cash injection.  Enso Finance Closes Funding Round  Enso Finance has closed a $5 million funding round. Polychain and Dfinity Beacon Fund led the…

Crypto.com will provide liquidity to Finxflo in new partnership

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Cryptocurrency exchange platform and card issuer Crypto.com will be providing liquidity in a new partnership with Singapore-based hybrid liquidity aggregator Finxflo. In an announcement today, Crypto.com said it would be joining Finxflo as the firm’s first liquidity provider, reportedly allowing the exchange to increase its transaction volume and mitigate market volatility. In general, liquidity aggregators may allow crypto traders to take advantage of deeper liquidity pools and more advantageous price execution. “We want to eliminate the hurdles associated with crypto trading, and streamline the experience for new retail investors,” said…

Linux Foundation launches blockchain-based platform for insurance

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The Linux Foundation, the nonprofit technology consortium that supports the Linux operating system, is backing a new blockchain-based project for the insurance industry. On Monday, the foundation announced the launch of the Open Insurance Data Link platform, a project that aims to reduce the cost of insurance reporting and create a standardized insurance data repository using distributed ledger technology. OpenIDL is a joint initiative of the Linux Foundation and the American Association of Insurance Services, a national insurance advisory organization in the United States. The open-source project brings together major global insurance…

DeFi Project Spotlight: Bancor, The Dark Horse Decentralized Exchange

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Share this article In 2017, Bancor pioneered automated market makers (AMMs) to replace order books using a native reserve asset, the BNT token. After losing ground to other decentralized exchanges such as Uniswap or Sushiswap, Bancor’s v2.1 showed that the project is far from over.  Re-Introducing Bancor Understanding Bancor can be tricky because of the system’s complexity, but there is a reason why the total value locked in the protocol has skyrocketed in 2021. Bancor’s USD monthly volume. Data from Dune Analytics In October 2020, Bancor released v2.1 to an…

Ethereum Consolidates Gains, Here’s What Could Spark A Fresh Rally

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Ethereum is struggling to clear the $2,200 resistance zone against the US Dollar. ETH price is now consolidating and it is likely to start a strong rally above $2,200. Ethereum is trading in a positive zone above the $2,100 and $2,080 support levels. The price is now trading well above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,125 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains well bid and it is likely to…

40K investors rush to buy RLY despite price pump

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Social token platform Rally has completed its first “liquid token sale” on crypto asset issuance platform CoinList, with 40,000 investors snapping up RLY tokens for $0.60 each between April 1 and April 4. The sale saw tokens distributed to investors at a set price despite RLY trading on exchanges since October, 2020. Token pricing was determined by a 20-day trailing average from March 11, 2021 to March 30, 2021 minus a 30% markdown to compensate for the RLY being locked up for 12-month a linear release. However, investors had the opportunity…

Bitcoin Prepares For its Next Move: Where is the 100 SMA, the Key BTC Level?

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Bitcoin price is consolidating above the $59,500 support zone against the US Dollar. BTC is now showing a few positive signs, but it must clear $61,200 for a fresh rally in the near term. Bitcoin is holding gains above the $60,000 and $59,500 support levels. The price is now trading well above the $59,500 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $59,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

USDT, USDC, and BUSD represent 93% of stablecoin market cap

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Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap. Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market. By contrast, six months ago the combined stablecoin capitalization for those three was less than one-third of its…

NYSE celebrates historic ‘first trades’ with NFT series

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The New York Stock Exchange, or NYSE, has jumped on the NFT bandwagon by minting nonfungible tokens celebrating the first trade made in the shares of prominent U.S. companies. In an April 13th announcement, NYSE’s president, Stacey Cunningham, described NFTs as a “new, fun way to mark the moment” of a company’s first trade on the NYSE. The first six NYSE NFTs commemorating the first trades for Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang, with Cunningham confirming “there will be many more NYSE NFTs to come.” The first NFTs are already…

The Rate Bitcoin Must Climb To Reach $100K By July

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Bitcoin is a numbers game through and through. There are only 21 million BTC. The code and its consensus algorithm are both made up of complex math. The total coins are slashed in half every four years, and so on and so fourth. Most important of all, here’s the growth rate Bitcoin price must hit steadily to reach $100K per BTC by July 2021 according to one crypto capital manager – as well as the one thing that could get in the way. Bitcoin Price Growth Rate Should Take Crypto…