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Weekly Update #28: Crypto Football Club



Crypto Football Club -

The new week has begun – so as usual, it is time to summarize the last seven days in the blockchain industry.

The previous week was pretty successful for the blockchain industry: the Bitcoin’s price reached $10,000, and we witnessed the historical milestone of half a billionth transaction.

Australia: National blockchain roadmap

This week, we have two interesting news from the smallest continent on Earth. The first one concerns the local government’s approach to the blockchain technology. The Australian Ministry for Industry, Science, Energy, and Resources has prepared a roadmap of national, blockchain-related goals for the country.

The strategy focus on three different aspects: regulations, technological development, and international investments and cooperations. As one of the potential utilization for the blockchain, Karen Andrews, Minister for Industry, Science and Technology, pointed on the ability to track national goods thanks to the global supply chain management systems.

How much for your football club?

The other Australian news goes for more specific blockchain implementation. Perth Glory, an Australian top league football club, is going to be sold to the London Football Exchange – an organization that aims to use blockchain to create “football stock exchange,” which will gather various football clubs. The chairman of Perth Glory, Tony Sage, claimed that the deal will soon be finalized. He also stated that the purchase won’t change anything in the operations of the club, besides integrating LFEC token into payment systems at the club.

Securities based on Stellar in a German bank

Bank von der Heydt, two and half-century-old banking institution based in Munich, apparently goes with the times. The institution announced the cooperation with Bitbond, blockchain financial services provider, aimed to develop a platform allowing to tokenize securities on Stellar blockchain. Bank’s client will be able to invest in securities via custody solution, already approved by German financial regulator BaFin.

North Korean Monero mining

Due to sanctions imposed on the Democratic People’s Republic of Korea, the regime of Kim Jong-un is looking for potential options to circumvent them. And apparently, many possible solutions are related to the blockchain industry. Not so long ago, Virgil Griffith got accused of helping North Korea in that process. Now, the American cybersecurity firm Recorded Future said in a report that North Korean Monero mining operations increased at least tenfold

This cryptocurrency is widely known for an anonymous character, which makes tracking its uses much harder than in the case of other decentralized currencies. Because of that, Monero is, unfortunately, a popular currency to pay for various illicit services. For Kim Jong-un’s regime, it is not unusual to use this coin – yet for the first time, the scale of North Korean operations in Monero is so significant.

Cryptocurrencies discussion in the American Senate

The topic of cryptocurrencies in the United States is a complicated matter. As we wrote in a recent article, this country, despite being the leader in new technologies, has significant problems with the utilization of decentralized money. Most of the concerns are related to regulatory issues – and this subject has once again came back in the US Senate recently. During debate on the 2021 budget, Secretary of the Treasury Steven Mnuchin stated that although the technology should move forward, the government needs to take care for cryptocurrencies not to be “the equivalent of old Swiss secret number bank accounts.”

Ukraine won’t regulate mining

In the times when most governments are at least considering various regulations, a new announcement coming from Ukraine might seem to be strange. A local Ministry of Digital Transformation has published a document that lists the main goals for the country in the field of digitalization. The government’s approach toward mining is rather surprising: it states that mining operations are already regulating themselves; thus, authority’s interference is not needed in that case. 

Bitcoin price update

Last but not least, let’s check the situation of the Bitcoin price over the previous seven days. Most of the week was favorable for the cryptocurrency. The Bitcoin keeps a good trend of earlier days and almost reaches the price of $10,500. Only on Saturday, the day after Valentine’s Day, the leading cryptocurrency has noted a $300 downfall. However, this slip does not necessarily mean the end of the bullish trend – Bitcoin keeps the price just beneath the $10,000, and it soon may increase once more.

What the new week will bring for both Bitcoin and the entire blockchain industry – we don’t know. But you can be assured that you will learn it in the next episode of the Weekly Update on

Artykuł Weekly Update #28: Crypto Football Club pochodzi z serwisu | portal with cryptocurrency bitcoin & blockchain news.



Bitcoin Could 14x to $3 Trillion Says Ark Invest Analysis

Bitcoin correlation with different asset classes, Ark Invest.Ark Invest, which focuses on investing in disruptive innovation like AI and biotech, thinks bitcoin could more than 10x in the next five years from the current $200 billion market…



Ark Invest, which focuses on investing in disruptive innovation like AI and biotech, thinks bitcoin could more than 10x in the next five years from the current $200 billion market cap to $3 trillion.

In a comprehensive analysis they suggest bitcoin can capture numerous markets, starting with settlement networks for value exchange. They say:

“In the United States alone, deposits totaling $14.7 trillion generate $1.3 quadrillion in settlement volumes between and among banks each year.

If it were to capture 10% of those settlement volumes at a similar deposit velocity, we believe the Bitcoin network would scale more than 7-fold from roughly $200 billion to $1.5 trillion in value.”

They don’t quite explain why banks would use bitcoin to settle instead of their own Fed systems, but another potential market is asset protection.

“With good public and private key management, we believe bitcoin cannot be seized,” they say. Thus:

“In our view, a sensible allocation to bitcoin would approximate the probability that a corrupt or misguided regime will confiscate assets – whether by fiat money inflation or by outright seizure – during an individual’s lifetime.

If that probability were 5% on average globally, bitcoin’s market capitalization, or network value, could vault more than 10-fold from $200 billion to $2.5 trillion.”

This is further complemented by bitcoin being better than gold in the view of Ark Invest, stating:

“Supporters often refer to bitcoin as digital gold because it improves upon many of physical gold’s characteristics.

Not only is bitcoin scarce and durable, but it also is divisible, verifiable, portable, and transferable, all of which protect from the threat of centralization.

According to our research, if it were to take 10% share of the physical gold market, bitcoin’s network value could increase nearly $1 trillion, 5 times its $200 billion base today.”

This somewhat overlaps with the inflation related potential market, especially in medium to under developed countries:

“While Bitcoin has not evolved enough to service an entire economy, we believe demand for bitcoin in emerging markets should increase as its infrastructure reaches critical mass.

If bitcoin were to capture 5% of the global monetary base outside of the four largest fiat currencies – US dollar, yen, yuan, euro – its market cap could increase by $1 trillion, as shown below, a 6-fold increase from $200 billion today to roughly $1.2 trillion.”

Then we get to the most interesting part of the analysis which is worth reading in full because our highlights can’t do justice to that thorough analysis of bitcoin as a strategic investment.

“Untethered from traditional rules and regulations and, generally uncorrelated to the behavior of other asset classes, bitcoin could serve as a strategic allocation in well-diversified portfolios, despite its volatility.

We believe the low correlations among traditional asset classes and bitcoin should minimize idiosyncratic risks and lower overall volatility, resulting in higher risk-adjusted returns.

To illustrate bitcoin’s low correlation relative to other asset classes, we calculated the 90-day rolling correlation between bitcoin and nine other assets over the 10 years from May 2010 through June 2020, [pictured, featured image]. As suggested by this sample, for the most part bitcoin has been uncorrelated to traditional asset classes and various stocks.”

This quality of bitcoin as an uncorrelated asset class has long been established now with this report also concluding “the correlations for each asset tend to center around zero, indicating little to no correlation.”

But then they look at other factors which an interested institutional investor might consider, like trading volumes. They say:

“Aggregated in different ways, bitcoin’s trading volume ranges from $200 million to $12.4 billion per day.

For a buy-side institution deploying fresh capital, U.S Dollar Markets on major exchanges is perhaps the most relevant. Given $200 million in daily trading, a buy-side institution limited to 10% of the volume could deploy roughly $20 million per day.

Including the major fiat currencies, however, bitcoin’s daily trading volume triples to $600 million, the U.S. dollar accounting for roughly half of the total.

Stablecoins more than triple bitcoin’s daily trading volume once again to $1.9 billion, thanks primarily to Tether. Adding cryptocurrencies to the mix increases trading volume by $700 million.

Finally, accounting for nearly 80% of the total, derivatives expand bitcoin’s daily volume more than five-fold to $12.4 billion, giving institutions limited to 10% of the volume an opportunity to deploy $1.2 billion per day.”

Bitcoin trading volumes are however small compared to an entire asset class like equities which handle about half a trillion a day with bitcoin’s trading volumes being more like that of a stock, higher than Google for example but lower than Facebook.

In addition, “bitcoin often is more liquid than the average publicly traded equity,” they say.

Then they analyze what all this means in their view regarding capital allocation in line with the modern portfolio theory.

“With hindsight, to construct a portfolio with bitcoin while maximizing the Sharpe Ratio or minimizing volatility at the efficient frontier, an investor would allocate between 0.27% and 6.55% to bitcoin,” they say. Looking forward:

“According to three 5-year simulations, each a function of bitcoin’s total addressable market (TAM) opportunities,

  1. 1% of TAM, or $1.1 trillion
  2. 5% of TAM, or $5.5 trillion
  3. 10% of TAM, or $11 trillion

…the suggested bitcoin allocations range from 0.03% to 26%.

Based on this analysis, investors seeking to minimize volatility would allocate between 0.03% and 1.28% to bitcoin.

Investors seeking to maximize Sharpe Ratio would allocate between 4.8% and 25.78% to bitcoin.”

A quarter of the portfolio is at the low end for many cryptonians, but for investment managers dealing with billions or even trillions, it sounds like the low end for the braver ones is 5%.

So general advice now perhaps should evolve to allocating between 1% to 5% of investable capital for maximum potential reward while minimizing potential risk.

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Cosmos, Dogecoin, XRP Price Analysis: 20 September



XRP, at the time of writing, was showing no signs of price movement in either direction in the near-term. Similarly, Cosmos was likely to be neutral or bearish, until overall market conditions took a turn towards the bullish side. Dogecoin, the popular meme-coin, was also stagnant across its price charts.


XRP, Cosmos, Dogecoin Price Analysis: 20 September

Source: XRP/USD on TradingView

XRP is the fourth-largest cryptocurrency in the market with a market capitalization of $11.27 billion. It was trading at $0.25, at press time, with the crypto-asset’s level of resistance laying at $0.267, while the support was at $0.23.

The MACD highlighted a bearish crossover and gave a sell signal. However, the Signal line and the MACD line have been moving quite close to each other for the past few days, indicating a lack of strength in the market. The Awesome Oscillator concurred, as its histogram gave a sense of weak bullishness.

A strong move above or below $0.25 could set the stage for XRP’s next move.

In related news, a report compared the function of XRP in 2017 to USDT in 2020 and found that stablecoins like Tether have been adding $100 million in market cap each day for the past several months. Since its launch, XRP has aimed to be the future of digital payments in cryptocurrency, but it appears that Tether has surpassed it in both adoption and market capitalization.

Cosmos [ATOM]

XRP, Cosmos, Dogecoin Price Analysis: 20 September

Source: ATOM/USD on TradingView

At the time of writing, the latest candle on ATOM’s price charts was suggesting that a possible surge towards $5.45 may be forthcoming.

However, this is unlikely. The OBV showed the steady sale of ATOM, highlighted by the lower highs formed. Further, the Chaikin Money Flow was exhibiting significant fluctuations in recent days, flipping from bullish to bearish territory multiple times, as buyers and sellers wrestled for control.

Overall, it is more likely that ATOM will head south.

Dogecoin [DOGE]

XRP, Cosmos, Dogecoin Price Analysis: 20 September

Source: DOGE/USDT on TradingView

Ranked 51st on CoinMarketCap, Dogecoin appeared to have ended its slump from mid-August. It has been noting a period of consolidation since the first week of September and could continue to float languidly around $0.028 in the coming days.

The RSI was moving irregularly around the neutral 50 zone, a sign of the market’s choppiness and indecision.

Dogecoin took a baby step towards recovery after ending its downtrend from August. A close above $0.029 would be another bullish step.


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Over 140,000 addresses have claimed their 400 UNI token airdrops

Nearly three-quarters of claimable UNI tokens have been obtained thus far.

The post Over 140,000 addresses have claimed their 400 UNI token airdrops appeared first on The Block.



Over 140,000 addresses have claimed their 400 UNI token airdrops – The Block

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