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SuperCharged Secret 3, Credit Card Utopia

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TURBO-CHARGED KILLER RATE SAVING INFORMATION!

Let’s just take a brief moment to recap:

If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 2 very important things:

  1. You now know how to take advantage of zero to low interest credit card offers.
  2. You now know that there is safety in numbers, and you know the magic “Who’s Who” of the major credit card companies. You know that one of them, in my opinion, stands out for consumers.

With me? Good. These are both essential foundations that you need to follow in order to live in Credit-Card Utopia.

Now, let me flavor it up for you.

What could be better than zero interest credit cards? What could be better than having the best, lowest, guaranteed credit card in your wallet?

1) How about cash? Would that work for you?

How about a big fat check at the end of the year, in the thousands and thousands and thousands of dollars?

Would you like to get PAID thousands of dollars each year, just for spending money that you ALREADY SPEND?

You might realize that I’m not talking DIRECTLY about interest rates. But listen, I can’t get much lower then zero interest. I need you to think creatively with me now.

2) Rewards Cards, otherwise known as incentive-based credit cards. Let’s start there.

These are no secret. Many of us have rewards cards. I have several, in fact, and I get many rewards for spending with them. I get airline miles, and I get gas vouchers, and I get discounts at online stores…AND…I get Cash.

But let me talk about a HUGE secret that most people are not yet fully exploiting for their personal and financial gain.

3) My family and I are just now getting into making money with Cash-Back offers:

Cash rebates, Cash-Back cards, those are the ones I want to focus on with you here, for a second.

How do these cash-back cards lower your interest rate? Well, at this stage, it’s a semantics game, but if you have 9% interest for example, and you use a cash-back credit card that pays you 3% on all transactions…Well, that’s like getting a 3% discount on the rate, so your charge is more along the lines of 6%. It’s not EXACTLY like that, but you get the point.

More importantly, let’s dig deeper.

4) I’m going to tell you how to TURBO-CHARGE this mechanism, and EXPLOIT IT FOR EVERYTHING it’s WORTH.

You see, your credit card company wants you to spend as much money as possible with their plastic.

Yes, they’d like to charge you interest on debt. But even if you pay it off every month, did you know that they still make a profit on the transaction from the Merchant fees?

Yes, the credit card charges the merchant a fee for swiping your card. It can range anywhere from 1% to as high as 6%…

It does not impact you the consumer (directly), but it does give you some insight into why you can become business partners with your credit card company.

5) Secret # 3 revealed: Here’s what my family and I are doing:

We use our cash-back credit card for EVERYTHING.

We simply have restructured our spending so that all expenses, or almost all expenses, go through our cash-back credit card.

Grocery stores, restaurants, shopping, dining, gas…Everything. In fact, as of the writing of this article, American Express® has developed a Bill-Pay type system so we are able to actually pay some of our bills using our cash-back credit card.

Can you imagine? A credit card company developing online bill-pay. Now, how SMART is that?

6) Let me ask you something. How much money do you spend every year on expenses?

Don’t get your calculator out, because the answer is simple. You basically, spend….AS MUCH AS YOU MAKE…

The vast majority of us do. So, let me ask you the same question a different way: How much money do you make?

How much is 3% to 5% of that?

I’ll give you an example. If the average household income (and expenses) were around $50,000, then that means a savvy consumer, with a cash-back credit card, could generate a check every year of between $1500 and $2500.

7) Holly Cape Canaveral, Batman!!! That’s $2500 free cash dollars, every single year!

What would YOU do with all that free money? Buy a vacation, a new TV, some jewelry?

Are you getting it, now?

You must start looking at the Cash-Back credit card as more then just an incentive or reward.

Frankly, it is a new source of income.

8) Now, here’s the nitty-gritty on how we do this. It’s simple.

The first step, is we gathered all our credit cards, put them in an envelope, and put that envelope in our lockbox in the attic. We replaced all our plastic in our wallet with the cash-back credit card of choice. We also put an emergency debit card in our wallet, but the primary method now for spending, is to use the cash-back card. This takes care of gas, food, restaurants, etc.

The second step, is the process of restructuring expenses through the online bill-pay system with our cash-back credit card company.

We re-route as many expenses as possible through our cash-back card. It takes a little time, and doesn’t happen in one day.

But do the legwork. Be a smart consumer like my family and I.

9) There’s a perk, too!

The perk is outstanding! Have you considered, that my family and I only really have one payment a month to make? That’s the goal we’re moving towards anyway.

So, think about how many bills you pay each month. Wouldn’t it be nice to just make one payment out for all your expenses, rather then a check to the gas-card, a check to the utilities, a check to the Credit Card Company, etc.?

Think of the convenience and time saved, to just make one payment out each month.

10) A lot of information to take in, yes? Let’s pause here:

If you’ve followed my train of thought, then you’ve come to the Secret knowledge of how to extract and exploit the power of these cash-back cards for everything they are worth. If you do this, even just the first part, you will take a money saving incentive program, and turbo-charge it into an actual income producing technology!

Pretty, cool, huh? SHHH! It’s a Utopian secret.

We’ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.

Publisher’s Directions: This article may be freely distributed so long as the copyright, author’s information, disclaimer, and an active link (where possible) are included.

Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.

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Bitcoin Bearish Signal: On-Chain Data Shows Whales Have Started Selling

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On-chain data shows whale ratio has exceeded the 0.50 mark, historically a sign that whales are dumping in the short term.

Bitcoin Whales Have Started Selling Their Coins

As pointed out by a CryptoQuant post, the Bitcoin whale ratio has started going up above the 0.50 level. This signal has usually meant a bearish outlook for the crypto in the short term.

The BTC all exchanges whale ratio is an indicator that gives an estimation of how many whales are sending their coins to exchanges.

The metric does so by taking the sum of the top 10 transactions to each exchange and dividing it with the total inflow on all exchanges.

Exchange Whale Ratio= Sum of Top 10 Exchange Inflow TXs (BTC) ÷ Total Exchange Inflows in BTC

The “inflow” is another indicator, it gives the total amount of Bitcoin entering into exchange wallets from personal ones.

When the whale ratio rises, it means the top 10 transactions to exchanges are taking up a larger part of the total BTC going into these exchanges.

This means more whales have started sending their coins to exchanges, either for withdrawing to fiat or stablecoins, or for purchasing altcoins.

On the other hand, when the value moves down, it means the general small transactions make up the majority of the inflows to exchanges, and that Bitcoin whales aren’t moving their coins around at this time.

Related Reading | Could A Bitcoin Bull Flag Leave Bears Blindsided

Here is a chart showing the trend in the value of the indicator over the past year:

The Bitcoin whale ratio has once again started climbing up | Source: CryptoQuant

As the above graph shows, the whale ratio has soared many times in the past year, and whenever it has, a crash in the price of the coin has also followed shortly after.

Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum

Looks like the whale ratio has once again started to move up as its value now crosses 0.50. This could indicate that BTC might move down next in the short term at least.

BTC Price

At the time of writing, Bitcoin’s price floats around $42k, down 3% in the last seven days. Over the last month, the crypto has lost 13% in value.

The below chart shows the trend in the price of the coin over the last five days:

Bitcoin Price Chart

BTC's price seems to have crashed down once again | Source: BTCUSD on TradingView

After showing some recovery from the crash due to news about China’s ban, Bitcoin has once again crashed down back to $42k after going up near $44.5k.

If the whale ratio is anything to go by, the price might continue to move further down in the short term. Maintaining above $40k is going to be crucial for any big moves forward.

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3 Most Visited Cryptocurrency: BALPAC, EPICHERO, BonusCake

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3 Most Visited Cryptocurrency: BALPAC, EPICHERO, BonusCake
  • The 3 most visited cryptocurrencies are BALPAC, EPICHERO, BonusCake.
  • BALPAC is a decentralized community token.
  • A 3D NFT game that works on BSC is EpicHero 3D NFT (EPICHERO). 

The top 3 most visited cryptocurrencies are Baby Alpaca (BALPAC), EpicHero 3D NFT (EPICHERO), and Bonus Cake (BonusCake).

1. Baby Alpaca (BALPAC)

Baby Alpaca (BALPAC) is a decentralized community token. It operates on a hybrid dividend mechanism. The holders of BALPAC will receive rewards from ALPACA. Moreover, ALPACA is Alpaca Finance’s native token. Some of the features of BALPAc are Anti whale and Bot Controls. Gaming and NFTs, gaming portal, integration of polygon, fully doxed team, and some more.

As per CoinMarketCap, Baby Alpaca’s (BALPAC) price is trading at $0.0000733, with a 24-hour trading volume of $41,129.

2. EpicHero 3D NFT (EPICHERO)

A 3D NFT game that works on the Binance Smart Chain (BSC) is EpicHero 3D NFT (EPICHERO). Binance coin (BNB), offers incentives to its users. Due to the non-fungible token (NFT) reflection rewards and burning operation, it is self-described as the Safemoon of NFT. Accordingly, in EpicHero Card Marketplace, players can trade battle card NFTs via ERC-21 tokens. Furthermore, the crypto token of the EpicHero NFT game is EPICHERO.

According to CoinMarketCap, at the time of writing EPICHERO price is trading at $0.3615 with a 24-hour trading volume of $107,659.

3. Bonus Cake (BonusCake)

The 3rd most visited cryptocurrency is Bonus Cake (BonusCake). The largest CAKE reflection token on the Binance Smart Chain (BSC) is BonusCake. More so, it is one of the CAKE rewards tokens with a unique feature. BonusCake unique reward system is prompted by volume. As per CoinMarketCap, BonusCake holds the 2897th position.

At press time BonusCake’s price is trading at $0.00003939 with a 24-hour trading volume of $1,922,903. In the last 24-hour BonusCake has gained over 38%.

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COTI Price Soars Over 74% in a Week

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COTI Price Soars Over 74% in a Week
  • In the last 7 days, the COTI price soars over 74%.
  • Within seven days COTI price was gained from $0.33 to $0.57.
  • COTI has been listed in the Crypto.com App.

The first enterprise-grade fintech platform which is designed to develop the private payment solution and digitize any currency is the COTI platform. Recently COTI has reached its new all-time high (ATH) of $0.6665. And in recent days it continuously showing a bullish trend. And in the last 7 days, COTI price soars over 74%.

COTI helps companies to easily create advanced fintech products and save time, data, and money. The platform’s application COTI pay will process all types of payment both online and offline payments in crypto and stablecoins.

In the COTI platform, users can issue their own created stablecoins and get control over both their money and their data. COTI platform made the system more secure for buyers and traders. It provides users a trusted, faster and reasonable payment mechanism.

Current Market Status

At press time, the COTI price is waving at $0.5748 with a 24-hour trading volume of $627,748,180. As per CoinMarketCap, the circulating supply of COTI is 868,672,118.03 COTI. Currently, traders can trade COTI in top exchanges such as Huobi Global, Binance, Mandala Exchange, ZT, and HitBTC.

The above chart displays the 7 days price chart of COTI, it shows a continuous bullish trend. In the last 24 hours, COTI gained 12.73%. And in the last 7 days, COTI has soared over 74%. Within seven days COTI price was gained from $0.33 to $0.57.

Recently, COTI has been listed in the Crypto.com App. It supports over 100 cryptocurrencies and stablecoins that include the leading cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Chainlink (LINK), and so on.

Furthermore, the users of Crypto.com can now purchase COTI using USD, EUR, GBP, and other fiat currencies. Therefore, this might be the price soar for COTI. And traders can expect more bullish in the coming days, with the upcoming updates, announcements, and upgrades.

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Over $5 Billion In Bitcoin And Ethereum Moved From Cold Wallets Amid China Crackdown

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Picture of a gold bitcoin next to a silver Ethereum coin

China continued its crackdown on crypto, leading to massive amounts of bitcoin and Ethereum being moved from exchanges. Immense pressure from Chinese central banks following the latest iteration of the China crypto ban has seen exchanges suspending operations in the region. In light of this, large amounts of crypto are being moved from exchange wallets to presumably safer wallets.

The transactions are thought to be going to cold wallet storage. Crypto crackdowns in the country caused a surge in USDT sell-offs against the Yuan as users tried to get rid of their crypto holdings before the ban takes full effect. The latest release by the Peoples Bank of China targets over-the-counter activities like those carried out on Huobi and OKEx exchanges and declared that changing fiat to crypto or crypto-to-crypto was now regarded as an illegal activity in the country.

Related Reading | Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off

$3.1 Billion in Bitcoin and $2.4 Billion In Ethereum Moved

After Huobi announced it was going to retire Mainland China’s active user accounts, the exchange had begun to move funds. The exchange had moved a total of $3.1 billion worth of BTC on Sunday. The activity was flagged by btcparser which had flagged the initial transfer of 72,999 bitcoins being moved from Huobi’s wallets. Subsequent transfers were then made in 2,000 BTC increments. 1,800 bitcoins then went to a single address and the rest got split into small wallets. This strikes as odd but could possibly be the exchange moving the funds in the way they deem the safest.

Huobi exchange moves 800K ETH | Source: Whale Alert

Related Reading | JPMorgan Analysts Say That Big Money Are Dumping Bitcoin For Ethereum

The Ethereum transfers took a different route. Wallets that had been flagged as belonging to the Huobi Exchange then began to move Ethereum into unknown wallets. By the time the transfers were done, 800K ETH had been transferred. A total of eight Ethereum transactions were made, each carrying 100K in ETH worth over $285 million on each transaction. Adding up to a total of $2.4 billion in ETH moved to unknown wallets.

Exchanges Retiring Chinese User Accounts

Exchanges, following the release of the latest ban, responded by explaining that they would begin retiring user accounts. The process was meant to happen gradually in order to ensure that users’ funds remained safe. Mainland China user accounts are scheduled to be retired on December 31, 2021, the last day of the year. This gives investors roughly three months to put their crypto affairs in order. But despite this long time frame, the rush to get rid of crypto holdings saw price quotes for USDT drop to as low as 6.12 Yuan per USDT.

This is not the first time that China has banned crypto actives in the country. And every time one of these bans was announced, it has had a negative effect on the market and the latest ban has been no different. The announcement saw a crash in prices across the crypto market. Although the market has since recovered. While the effects of the crash linger on.

Ethereum price chart from TradingView.com

ETH price down following crackdown | Source: ETHUSD on TradingView.com
Featured image from DigitalTokens.io, chart from TradingView.com
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Trace Network Offers an Extremely Rare Brew as World’s First Craft Beer NFT

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Trace Network Labs, which recently announced its foray into the world of NFT and Metaverse, is bringing its first among many Lifestyle items that can be carried to ANY metaverse. Trace has onboarded Vietnam’s award-winning 7 Bridges Brewing Company to launch limited-edition craft beer NFTs that will be metaverse-ready.

Considered one of Asia’s most innovative craft breweries, 7 Bridges Brewing Company has created the iNFTy range of beer which will be limited to only 110 bottles. Out of these, 99 bottles of extremely rare Grand Cru beer will be tokenized and made available to those who own the NFTs. The remaining 11 bottles will be held as brewer’s reserve.

The NFT Beer

As a part of the collaboration, Trace Network will introduce 99 unique 3D object artworks created by 7 Bridges as NFTs, each representing a bottle of extremely rare beer brewed from a special recipe that will never be used again.

Each NFT artwork representing a bottle of iNFTy Craft Beer is unique and numbered. The artworks capture the deeper meaning of its numeral, drawing inspiration from history, science, pop culture and mysticism. The corresponding bottle, represented by the NFT will feature the unique artwork label and be cellared in ideal conditions until physically claimed by the owner.

Owning the NFT

To own the treasured bottles of 7 Bridges iNFTy craft beer, users have to participate in the upcoming global auction on Trace Network’s Bling platform – a luxury and lifestyle NFT marketplace. The auction winners will not only become eligible to gain possession of the extremely rare beer and enjoy it but also carry them into any metaverse. They can also trade or transfer these NFTs like any other ERC token.

Enabling an Experience

Trace Network Lab’s partnership with 7 Bridges Brewing Company is the latest in a string of collaborations with premium lifestyle brands the platform has forged in recent days.

Trace aims to enable the metaverse “residents” gain limitless experience in different virtual worlds by helping them use “wearable” and “consumable” luxury & lifestyle NFTs that are created by brands as a digitized version of their real-world products offerings.

By enabling brands to create NFTs and cater to the metaverse users’ aspiration to own their products not only in the physical but also the virtual world, Trace Network has become the de-facto gateway between these two worlds for luxury and lifestyle products.

 

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Crypto Roundup: September 27, 2021

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Crypto Roundup: September 27, 2021

Another week of wild volatility has hit the cryptoasset market, as China’s latest ban collides with accelerating adoption to catalyze big market swings.

First, fears of the financial collapse of Chinese developer Evergrande sent crypto sliding last Monday, before the market turned around as Twitter added Bitcoin tipping. El Salvador’s President Bukele then bought the dip, only for the gains to be erased on Friday as Chinese authorities announced yet another crypto crackdown.

When the dust settled, Bitcoin and Ethereum were both sitting slightly higher with 2% and 5% weekly gains respectively. DeFi tokens however, enjoyed even bigger wins in anticipation of more Chinese users being forced into the DeFi wilderness. Exchange protocol Uniswap has risen 23%, while up-and-coming platforms Tezos and Cardano are celebrating 25% and 8% gains.

This Week’s Highlights

  • China ban fails to sink Bitcoin
  • Twitter accelerates crypto adoption
  • eToro launches DeFi Portfolio

China ban fails to sink Bitcoin

Digital asset traders were left with déjà vu on Friday as Chinese authorities announced yet another crypto crackdown.

The Chinese central bank said in an announcement that all crypto-related activities are now illegal, including exchange services between cryptoassets, and between fiat currencies and cryptoassets.

Bitcoin tumbled on the news, but soon recovered on a wave of optimism about the opportunity for adoption elsewhere. Weighing in on Twitter, U.S. Senator Pat Toomey said that “China’s authoritarian crackdown on crypto” represents “a big opportunity for the U.S.” to take part in what is “arguably the most exciting innovation in finance in decades.”

Twitter accelerates crypto adoption

Twitter has taken crypto another step closer to full-blown mainstream adoption by enabling Bitcoin tipping, and revealed plans to roll out an NFT authentication feature.

Tipping, which is currently only available on iOS, uses Bitcoin Lightning Network to allow anyone to receive direct donations from profile visitors. NFT authentication on the other hand, is expected to allow users to connect their wallets to showcase their NFT collections.

Alongside Reddit’s Moon Tokens on Ethereum, and Facebook’s ongoing Diem project, crypto now looks set to be a permanent feature of social media. This could lead more otherwise uninterested social media denizens to develop cravings for cryptoassets over the next few years.

eToro launches DeFiPortfolio

The DeFi revolution has begun, and the dizzying pace of innovation is making it difficult for even the most informed investors to keep up.

eToro is now offering an easy way to stay ahead of the growing decentralized finance movement. The DeFiPortfolio bundles together the top decentralized finance projects, giving you exposure to every corner of the ecosystem — from Uniswap to Yearn.Finance and more — without having to spend hours on research.

Learn more about eToro’s newly launched DeFiPortfolio.

Week ahead

As September draws to a close, analysts including Galaxy Digital’s Mike Novogratz are anticipating a bullish fourth quarter.

In October, the biggest upcoming price catalyst could be the approval of a Bitcoin ETF. Bloomberg analyst Eric Balchunas gives this a 75% chance.

On the bearish side, Washington now has crypto firmly in its regulatory crosshairs. Jake Chervinsky, crypto lawyer at Compound, expects enforcement activity from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) in the next two weeks as the agencies seek to boost performance before the end of the fiscal year.

 

Image by Gerd Altmann from Pixabay

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Crypto Market Analysis: September 27, 2021

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Crypto Market Analysis: September 27, 2021

Crypto markets were rocked on Friday as it emerged that China was implementing a full ban on cryptoasset trading inside the country. Despite it having announced the ban previously, markets reacted badly with big falls in BTC and other altcoins.

BTC entered last week on a downward trend and had already hit a low of $40,500 by Wednesday morning, but it was recovering steadily until the news from China knocked it down more than 8% on Friday. The price then stabilised before a jump on Sunday and returned to over £44,100 this morning.

ETH likewise hit a weekly low on Wednesday, touching £2,700 before a climb back up to over $3,100. Following its own fall of over 9% on Friday, ETH then stabilised along with BTC over the weekend and was trading again at over $3,100 this morning after strong gains on Sunday.

Twitter launches crypto features

Social media platform Twitter has launched a series of crypto-related features on its platform.

Users will now be able to tip popular tweeters in bitcoin through Strike, a third-party payments app built on the Bitcoin Lightning Network. iOS-based Twitter users will now be able to access the Tips feature while the platform says it will roll out Android functionality soon.

The company is also looking to make non-fungible tokens (NFTs) more prominent on the platform, giving creators more tools and moderation functions. Twitter says it is exploring NFT authentication which would let users connect their crypto wallets directly to their social media accounts in order to display their owned artwork on their profiles.

Sorare secures bumper $680 million SoftBank funding

NFT marketplace Sorare announced on Wednesday that it has secured a mega $680 million funding round led by high-profile Japanese tech investment house SoftBank.

Sorare is a marketplace for non-fungible tokens (NFTs). The platform is now valued around $4.3 billion after the Series B funding round. SoftBank led a previous round of investment in July, injecting $532 million. The firm plans to use the fresh cash injection to expand its sports NFT offering.

The firm will expand its football portfolio of NFTs by seeking partnerships with football leagues and associations. It has already secured deals with French heavyweight team Paris Saint-Germain, English Premier League champions Liverpool and the Spanish-based La Liga league.

Sorare is also looking at diversifying its NFT offering, exploring sports beyond football. Issues have arisen among other sports, however, as major leagues such as the NFL in the US specifically proscribe players and clubs from creating or selling NFTs.

Evergrande causes rollercoaster week for crypto markets

The news has been heavily focused on events in China in the past week, with crypto not immune from the permutations.

Early in the week, news began to emerge of the Evergrande crisis which sent contagion spiralling through all markets. Cryptoassets felt the effects as the broad-base selloff took hold on Monday.

Evergrande has massive debt exposure – over $300 billion – and has failed to make payments on time to its creditors. The implications for wider crypto markets are not direct, but with debt fears looming, cryptoassets such as Tether could be affected.

Stablecoins like Tether are pegged to fiat currencies such as the US Dollar. But to maintain the peg they require holdings to match the value of the cryptoasset. Many can’t hold large amounts of cash and instead use commercial paper – a form of short-term debt – to account for the value.

The issue here is that, with Evergrande creating 2008-style contagion risk for debt markets, stablecoins could run into trouble were the commercial paper they hold to lose value. Unfortunately, as such a crisis is unprecedented, it remains to be seen what will happen next.

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as a reliable indicator of future results.

All contents within this report are for informational purposes only and does not constitute financial advice. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly available information.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework. Your capital is at risk.

 

Image by Roy Buri from Pixabay
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Morgan Stanley Bags Over 58,000 GBTC Shares As Bitcoin Price Shakes

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Morgan Stanley Bags Over 58,000 GBTC Shares As Bitcoin Price Shakes

As Bitcoin and other cryptos gain more credence, many top shots in diverse industries embrace the crypto community.

Many companies, including Tesla, had accepted BTC payments once, and even a country like El Salvador is now using it as a legal tender. So, it’s not surprising that Morgan Stanly, an extensive American Investment bank, will buy shares of a Bitcoin Trust.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

In a recent development, the bank acquired 58,000 shares of Grayscale Bitcoin Trust. It had previously owned some shares of the Trust, including the 28,289 shares bought earlier in 2021. This latest addition has increased the number of shares that the bank holds across many portfolios.

The investment bank disclosed this latest purchase through an SEC filing showing that it bought the shares on July 31, 2021. At the time of writing, the price of Grayscale BTC Trust stands at $32.55. The bank “Insight Fund” holds 928,051 shares which depicts a $31.7 million worth of shares for one of Morgan Stanley’s portfolios.

The Grayscale Bitcoin Trust is currently trading in a downward momentum | Source: GBTCUSD on TradingView.com

The bank’s announcement in April 2021 has added Bitcoin assets to at least 12 of its funds through the Grayscale BTC Trust plus Cash-settled Futures. The accumulated figure shows 6.5 million GBTC shares.

Companies Holding Grayscale’s Bitcoin Trust

Apart from Morgan Stanley, another investment bank pushing into BTC exposure is JP Morgan. It is the second-largest GBTC shareholder, while Cathie Woods Ark Investment remains in the first position to date.

Related Reading | Bitfinex To Roll Out Security Token Offerings (STOs) Platform In Kazakhstan

The firm disclosed in July that it had added over 450,000 GBTC shares in two purchases. Many others with GBTC shares include Goldman Sachs, JP Morgan, and BlackRock.

Featured Image from Pixabay, chart from TradingView.com

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Zoracles to Launch Unibond Financial NFT Marketplace

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A credit score is a statistical value or number that helps lenders assess the creditworthiness of their customers based on their past credit and repayment history. Zoracles has developed an on-chain solution called the Zora Score to calculate the creditworthiness of an Ethereum wallet based on factors such as the age of the wallet, DeFi activity, and loan repayment.

Credit scores are standard in traditional finance and are necessary for making and issuing loans. Zoracles has developed an API for Zora Score that allows decentralized crypto lending platforms to not require collateral due to their algorithmic scoring. This was the first in cryptocurrency projects and protocols.

The Zoracles product team will implement the Zora Score in an NFT marketplace to serve as a data point for buyer and seller reputation. Hacks are common in DeFi, and this metric protects market participants from transacting with people with a bad DeFi reputation or in connection with banned wallets.

Zora Score was very different from the typical scoring system of a rating agency. Consumers have the opportunity to enhance their traditional creditworthiness with complementary products and services from companies like Credit Karma and credit partners like banks.

In this era of financial uncertainty and rapid advancement, the pace of crypto protocol development is no different. Zoracles has contacted several major protocols that have requested submission of their Zora score before implementation. The team then developed an NFT exchange product to meet the needs of more extensive lender protocols and generated a lot of interest in the standalone product. The product has evolved and includes not only exchanges of NFTs, but also data analysis to assign value to these NFTs.

Next Evolution: Unibond

In early May, Uniswap v3 introduced a concept called concentrated liquidity positions, expressed as NFT. Generally, liquidity providers are tasked with specifying a price range for their token pairs. These positions are converted to NFT based on the unique parameters underlying each asset.

Uniswap v3 NFT is currently an underserved market, while art and collectibles NFTs will have sales of more than 2.3 billion in 2021.

Zoracles plans to use as much data analytics as possible to help buyers and sellers fix the price of your liquidity positions based on the percentage of time spent in the area and other factors the team is currently considering, including historical APY. This would resolve an essential missing piece that other Uniswap NFT Assets NFT markets have that do not guide the price of this new asset class.

 

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Acala Partners With Blockdaemon To Launch Staking Derivatives For DOT, KSM

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Acala Partners With Blockdaemon To Launch Staking Derivatives For DOT, KSM

Acala, a DeFi platform that is built on the Polkadot ecosystem, announced its partnership with Blockdaemon. This partnership with a leading blockchain infrastructure platform is to support its first liquid staking derivatives for DOT and KSM.

Significantly, Acala’s DOT and KSM Liquid Staking, the first staking derivatives in Polkadot and Kusama ecosystems. It brings a new class of financial products and creates new cases for DeFi users and developers. The product which was released today is Acala’s Kusama-based blockchain, whereas the Polkadot-based blockchain is soon to be launched.

Additionally, over $21 billion in liquidity is staked on the Polkadot ecosystem currently. Whereas, Kusama has about $2 billion but these assets are locked which is unable to benefit from other DeFi applications. On the other hand, users have to wait for a long-period to redeem their assets. Polkadot (DOT) users have to wait 28 days and Kusama (KSM) users have to wait for 7 days. The significant reason for the Acala team to launch staking is to address these challenges and unlock billions of dollars in liquidity for DOT and KSM networks.

Acala partner Blockdaemon recently became a unicorn raising over $155 million in Series B funding round, with a $1.255 billion valuation, establishing it as the world’s largest blockchain infrastructure company. This funding round was led by SoftBank Vision Fund 2* while the participants were Matrix Capital Management, Sapphire Ventures, and Morgan Creek Digital.

More so, the latest round funding will aid Blockdaemon’s international expansion, which allows the firm to hire high-class talents. Furthermore, the new funding will enable the firm to make strategic acquisitions to supplement its already robust technology stack.

First Liquid Staking Product

A product which is launched today on Karura parachain is the first Liquid Staking product of Acala. It is KSM Liquid Staking (LKSM), which allows users to stake their KSM while maintaining access to its liquidity.

Moreover, users will receive LKSM when they stake KSM on Karura but then it also includes staking rewards. Currently, those who stake KSM for LKSM will earn approximately 16% APR in staking rewards. On the other hand, they can also enjoy the benefit from LKSM being an unlocked token that offers access to KSM liquidity for other DeFi uses.

In addition, LKSM offers low staking minimums, where early unbonding allows users to exit staking positions instantly. Users don’t require to wait for 7 days unbonding time, since users can unbound any time for a small fee.

Acala Partners Blockdaemon As First Validator

Blockdaemon is the top blockchain infrastructure platform for node management and staking. Exchanges, custodians, crypto platforms, financial institutions, and developers use Blockdaemon to bridge stakeholders to blockchains. It enables users to transact, earn and stake via nodes with security, scalability, and reliability.

Acala announced the first validator in its Liquid Staking Validator Program, Blockdaemon which will run validators for the KSM Liquid Staking pool. From today, Blockdaemon offers the KSM Liquidity Staking pool participants low commissions and no-slash guarantee.

However, the Acala team is kicking off a new liquidity mining program to reward the community. Users can earn rewards in two ways, where they can stake KSM for LKSM and earn by staking newly minted LKSM or offer liquidity for new LKSM/KSM pair. Moreover, the participants who want to join the Liquid Staking validator program can apply and validate on Polkadot and Kusama.

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