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With Traditional Markets in Turmoil, AlphaPoint Transforms Assets

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This is a sponsored article provided by AlphaPoint.

In 2013, blockchain technology was in its earliest stages. The Bitcoin white paper, ushering in this underlying technology along with the world’s first cryptocurrency, had been published only five years before and was just beginning to gain traction in the wider world. At this dawning moment, AlphaPoint began its own journey to decentralize assets of all kinds and transform the traditional market into one that is more secure, transparent and suited for the future.

AlphaPoint is a white label exchange and brokerage technology service that has reached more than 150 customers across 35 countries, ultimately serving more than 1 million end users and facilitating more than 100 million yearly trades for its clients. In this way, it is a proven and established portal for accessing the future of wealth, asset ownership and decentralization by facilitating the tokenization of assets and launch of needed marketplaces.

“Our white label exchange software means that we have developed software that our customers can use to launch their own exchanges and brokerages around the world quickly and with their own branding,” explained AlphaPoint CEO Igor Telyatnikov. “We were pioneers in the industry and were the first to provide such a solution in this space almost seven years ago.”

The Advantages of Decentralized Assets

Among the customers who have taken advantage of AlphaPoint’s offerings to build novel token economies is First Bullion. Operating under regulations from the Cagayan Special Economic Zone (CEZA) in the Philippines, First Bullion is leveraging tokenization to open up a traditional asset market, enabling more fluidity, efficiency and inclusivity in the network and expanding investor participation. It has conducted a successful token raise for a plantation of agarwood — one of the most precious and expensive natural resources in the world.

By unlocking new value creation opportunities, and by simply improving the traditional process of asset distribution that financial institutions have relied on for decades, AlphaPoint is offering solutions to an economic system that is betraying cracks and inefficiencies now more than ever.

“Traditional markets have exchanges, brokerages, clearinghouses, custodians and market makers, and we see those players more and more getting involved in the cryptocurrency space,” Telyatnikov said. “At this moment in time, we are forcing the global population to go digital to an extent never before seen in history. It’s an interesting experiment, driven by a global health crisis we are watching closely to see the current financial infrastructure being tested significantly.”

Improving the Financial World in a Time of Crisis

Illustrated by the traditional market turmoil caused by the coronavirus outbreak, unprecedented stimulus from centralized forces like the Federal Reserve and the eradication of traditional savings assets, the world is ready for an alternative way to invest in and secure wealth.

“Securing and standardizing proof of ownership of assets is a huge advantage that could eventually resolve many issues globally and drive significant efficiency in commerce,” said Telyatnikov. “Exchange of digital currency and assets can automatically track and audit transactions, follow approval workflows and eliminate the need for title insurance in the future.”

If and when the coronavirus epidemic is curbed, there will still be no putting the genie back in the bottle — the ruptures in our traditional financial system have given way to a new era. People around the world are being forced to decentralize, economic stimulus is occurring at unprecedented rates and we are all looking at financial assets in new ways.

“We believe the coming months and potentially years will put significant strain on national currencies and financial institutions which will make Bitcoin and cryptocurrencies attractive as countries grapple with recoveries for their local economies,” Telyatnikov concluded. “Our core mission is to enable access to digital currencies and the demand for those services has grown over the last seven years and will likely accelerate in the next seven.”

The post With Traditional Markets in Turmoil, AlphaPoint Transforms Assets appeared first on Bitcoin Magazine.

Source: https://bitcoinmagazine.com/articles/with-traditional-markets-in-turmoil-alphapoint-transforms-assets?utm_source=rss&utm_medium=rss&utm_campaign=with-traditional-markets-in-turmoil-alphapoint-transforms-assets

Blockchain

Bitcoin Difficulty Ribbon Could Indicate Imminent Price Increase

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One is called the difficulty ribbon, and it has just broken out of the green buy zone for the first time since March in terms of compression. The metric was reported by analytics provider Glassnode, which added that historically, these had been periods characterized by a positive momentum indicating significant price increases.

Historical Bitcoin Buy Signal

The Bitcoin difficulty ribbon was created by chartist Willy Woo. It consists of simple moving averages of network difficulty enabling the rate of change of difficulty to be easily seen. Periods of high ribbon compression, such as the current situation, have been historically good buying opportunities.

There have been several significant price increases over Bitcoin’s lifespan that followed this ribbon compression breaking out of the green zone. The most recent was around April 2019 when BTC prices surged from below $5k to top out over $13k just three months later.

It was also observed that there had been a massive divergence in difficulty ribbon compression and Bitcoin price over the past six years. However, the chart has used a logarithmic price chart, which may have caused that anomaly.

Bitcoin’s hash ribbon is a similar metric, and CryptoPotato reported that it was flashing buy signals back in July. In the five weeks that followed, BTC price surged 34% to make its 2020 high.

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BTC Price Action Update

Looking at the shorter term, Bitcoin’s price chart has just printed another ‘Bart Simpson’ pattern with a sharp 2.3% decline in just over an hour, wiping Monday’s gains.

Prices had recovered to $10,725 at the time of writing, and sentiment appears to be bullish for BTC, according to a recent poll by analyst and trader Josh Rager.

Bitcoin is currently trading right on the 50-day moving average, which is acting as resistance at the moment. The next step above this is a break above $11k, while on the low side, there is strong support at the $10k level. Analyst ‘CryptoHamster’ added:

“After the breakout the resistance line became support. Now it is getting tested. If it holds, it would be a very nice sign. But it has to hold, otherwise the whole growth is just a short squeeze.”

Short term charts suggest price could go either way, but longer-term on-chain analytics, such as the difficulty ribbon, are more bullish.

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Source: https://cryptopotato.com/bitcoin-difficulty-ribbon-could-indicate-imminent-price-increase/

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Bulgarian National Convicted For His Role in a Bitcoin-Related Crypto Exchage Scam

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The owner of a cryptocurrency exchange has been recently convicted in a transnational scheme of defrauding people through an online auction fraud. Court says the scam reached a multi-million dollar scale.

At Least 900 Americans Victimized

As per a recent report, people who suffered from the fraud were probably more than 900 American citizens. According to the official statement, 53-years-old Rossen Iossifov, formerly of Bulgaria and reported owner of a Bulgaria-based Bitcoin exchange R.G. Coins, was convicted of both conspiracy to commit racketeering and money laundering. After a two-week trial, the jury in Frankfort, Kentucky and U.S. District Judge Robert E. Wier scheduled the sentencing to Jan 12, 2021.

Reportedly, some of the Romania-based members of the group posted a false advertisement to promote an online auction and sales websites, among which Craigslist and eBay. The ad promised its victims high-cost goods (typically vehicles) that did not exist.

As per the release, members of the scam would use stolen identities to promote and convince their victims to send money for the advertised items via “persuasive narratives”. For example, some of the ads had impersonated a military member in need of selling the advertised item before deployment.

The scammers also provided invoices with trademarks of reputable companies to their victims, making the transactions seem legit. The legal document also reveals that members of the conspiracy set up call centers, offering customer support. This way they would provide advice to client questions and “alleviate concerns over the advertisements”.

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Converting The Stolen Funds Into Crypto Assets

According to the official statement, once Iosiffov received the victims’ funds, he and his fellows would convert them into crypto assets and transfer them to off-shore money launderers.

As per the court documents, “since at least September 2015 to December 2018, the Bulgarian exchanged crypto assets into local fiat currency on behalf of his Romania-based partners in the scam, knowing that Bitcoin presented the proceeds of illegal activity.”

According to the court statement, in just two and a half years, Iossifov exchanged more than $4.9 million worth of Bitcoin for only four of the members of the criminal team.

A total of seventeen defendants have been convicted in the case. Three others are fugitives. Police departments in the U.S. and Romania have led the procedures on the case.

It’s worth noting that the US DOJ is becoming increasingly active in pursuing crypto-related fraud. As CryptoPotato reported earlier, it went after 280 cryptocurrency accounts related to hackers from North Korea.

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Source: https://cryptopotato.com/bulgarian-national-convicted-for-his-role-in-a-bitcoin-related-crypto-exchage-scam/

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Aave Governance is Now on Mainnet: Incoming 100:1 Token Split For LEND?

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The Aave Money Market DeFi protocol is now about to be more decentralized than ever. In an announcement published on its official blog on 25th September 2020, the team reported on the successful launch of the Aave Governance on the mainnet.

This means that users of the protocol will now be able to vote on critical decisions for the project’s future. As Aave explains, the governance implementation was active in the Kovan and Ropsten testnets, giving users the ability to experiment with how to participate in the voting process for various improvement proposals, known as AIP.

Bye LEND Welcome AAVE tokens: Aave’s First Proposal

Unlike testnet implementations, the effects of launching governance on the mainnet are now more formal and reflect the commitment of the development team to empowering the community. The first AIP for which users will be able to vote involves a token migration and the total supply reconversion.

Should the first AIP be approved, the LEND tokens will become AAVE tokens, and the total supply will drop by 100:1. While this may give the impression of less liquidity, the reality is that the value or market cap should, in theory, remain the same as the AAVE holdings in the owners’ wallets would also decrease proportionally.

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“The major benefits of the migration is that we activate the Safety Module, meaning that AAVE token holders can stake their AAVE and earn,” told us Aave CEO, Stani Kulechov.

These modules are created to secure the protocol and would be used to recapitalize the platform in case of a deficit.

Will exchanges support the Lend – Aave migration? According to Kulechov, “Major exchanges will support after the migration is complete; however, they will separately announce on the support.”

More Incentives for the Community

The Aave team also plans to put under consideration the possibility of including part of the fees within these Safety Modules. In this way, it is guaranteed that the security of the protocol increases with its usability.

stani
Kulechov, Aave CEO. Source: Twitter

“The SM will act as a recapitalization mechanism, so in the case of a shortfall event, your stake may be slashed up to 30% to cover the deficit. The idea behind “safety mining” is to reward community members who stake their AAVE to promote the safety of the protocol.

In addition to the Safety Incentives, users would have the opportunity to earn Ecosystem Incentives (EI) for supplying and borrowing assets from within the platform. They hope that the community will also be able to decide how to distribute specific incentives in the near future.

Aave is one of the longest-running DeFi protocols in the ecosystem. It allows users to lend and borrow certain assets, putting others as collateral. However, interests are automatically determined by supply and demand according to parameters coded within the protocol.

Besides, Aave became famous for allowing flash loans. This mode allows a person to take an unsecured loan on the condition that it is repaid before the next block is mined.

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Source: https://cryptopotato.com/aave-governance-is-now-on-mainnet-incoming-1001-token-split-for-lend/

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