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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Is Bitcoin changing hands or being exchanged for altcoins?

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HODLers are known to sell at the top of the market cycle. However, since the price rally in July 2020, dormant coins from 2017 and 2018 are selling at the current price level. Pioneer of on-chain analysis, Willy Woo recently tweeted saying,

Is BTC changing hands or being exchanged for altcoins?

Source: Twitter

In several instances in 2014, 2017, and 2018, HODLers have booked unrealized profits. However, Bitcoin’s price was an ATH in that case. Currently, the price is above $11300 and dormant coins getting sold at this price level may indicate the possibility of an upcoming drop in price. 

On the contrary, since the second week of October 2020, several altcoins have been performing well. Offering double-digit returns in a week or a 24 hour period and this is lucrative to HODLers. Based on CoinMarketCap’s on-chain analysis, 88% of HODLers have unrealized profits in their portfolio. In anticipation of a Bitcoin price rally, HODLers may book a couple of tranches of profits and wait. They may buy altcoins like ADA, XLM, or FIL based on their weekly and 24-hour returns and book profits in the short-run.

Is BTC changing hands or being exchanged for altcoins?

Trade Volume of FIL || Source: Coinmarketcap

This is evident from the sudden and unpredicted increase in the trade volume of FIL, in the past 5 days. From 31 million it increased to 155 million in a single day. Corresponding to this increase in trade volume, the price has increased by nearly 22% in one week. 

Altcoins are a lucrative option for another reason, Bitcoin’s volatility and volume are low. The recovery is taking longer than expected, even with the ushering in of smart money. It may be long before HODLers who purchased above $10000 would see an ROI of 100%. In the meanwhile, the ones who have persevered through $3k-$9k level are selling and turning in.

Is BTC changing hands or being exchanged for altcoins?

Map of spent HODLer BTC || Source: Whalemap

Holding an asset long enough comes with an opportunity cost. HODLers who are aware of Bitcoin’s potential long-term return have paid this cost and may be ready to take by selling Bitcoin and trading in Altcoins, or reducing risk exposure and switching to Bitcoin options. This move by HODLers does not signal towards a price drop. There is an equal possibility that this builds a bullish case for Bitcoin in the longterm and altcoins in the short term.

Source: https://eng.ambcrypto.com/is-bitcoin-changing-hands-or-being-exchanged-for-altcoins

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Founder of DeFi’s Yearn.finance (YFI) just launched another Ethereum experiment

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Yearn.finance (YFI) founder Andre Cronje is full of ideas, even after he managed to roll out one of the most successful crypto projects in history.

The DeFi innovator recently unveiled his latest experiment, a network called the Keep3r Network, whose native token is KPR.

Unfortunately, like his other recent experiment, some participants got burned as they bought the token of the project without thinking, then got dumped on by bots and power users that managed to accumulate large swaths of this asset.

Here’s a recap of Cronje’s latest project, including what it is and what went down after he released it.

What is the Keep3r Network?

According to Cronje’s Github, which published for this new system on Oct. 19, Keep3r Network is a decentralized marketplace where projects can post jobs and where users can take jobs.

Jobs can be anything as “simplistic as calling a transaction, or as complex as requiring extensive off-chain logic.” A sample job Cronje mentioned was calling the “harvest” function in a Yearn.finance Vault, which collects and liquidates the coins farmed by the invested capital.

The idea with Keep3r is to allow projects strapped for manpower, such as Yearn.finance perhaps, to offload some of the work or maintenance to a group of freelancers.

To ensure that the user is right for a job, job posters can “specify a minimum bond, minimum jobs completed, and minimum Keeper age required to execute this function.”

In this system, the reward for each job being completed is meant to be paid in KPR tokens.

Job posters can pay out KPR by providing KPR-ETH liquidity on Uniswap.

There is no formal user interface for this network, with Cronje using the term “beta” in the project’s readme document.

A stealth launch

Like with Eminence and Liquidity Basic Income — Cronje’s two prior experiments released in the past month — Cronje directly interacted with the Keep3r Network contracts, signaling to Ethereum users that it is him behind this project.

Unlike with Eminence and Liquidity Basic Income, though, this project flew under the radar.

Cronje did not tweet about it, nor did he publish a Medium blog on the matter.

This meant that the only ones who know of Keep3r Network existence for a long time were those that followed Cronje’s GitHub, or those that tracked his Ethereum address. Twitter, which catalyzed the hype around Eminence and Liquidity Basic Income, did not pick up on this stealth launch.

As a result, little capital flowed into the KPR token itself.

However, there was some money that found its way into KPR.

By the evening of Oct. 19, KPR traded for $2,000 — 200,000 percent than its starting price just shy of $1.

But as quickly as it rallied, the original KPR dumped back under $100.

The reason: Cronje redeployed the Keep3r contracts a number of times, seemingly to iron out bugs in the network.

He continues to test KPR’s functionality with new contracts. But for some reason, bots or users experiencing FOMO continue to buy the coin anyway as they seek to capture the next coin that rallies 1,000,000 percent.

Posted In: , DeFi

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Source: https://cryptoslate.com/founder-of-defis-yearn-finance-yfi-just-launched-another-ethereum-experiment/

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