JP Morgan points out the behind the scenes of BTC’s recent surges .
Liquidations upon BTC have increased over the past few weeks.
BTC legal tender adoption by El Salvador owes to be one major reason.
The Bitcoin (BTC) shook the whole crypto industry on October 6, after peeking its head above the $55K benchmark. The whole crypto industry danced in joy as many prominent altcoins too followed the surge, due to the rise of BTC.
In spite of all this, JP Morgan, America’s leading financial analyst and investment firm, shares their views and points out various aspects behind the surge of BTC.
Aspects Behind Rise of BTC
We all know that BTC reached $55K on October 6 from about $40K. This is the highest for the past few months for BTC to raise its head above $55K. In spite of all this, the JP Morgan analyst team predicted various reasons behind this recent surge.
Accordingly, they term that about three major factors are responsible for such drastic rise in BTC price.
Firstly, JP Morgan points out that the U.S has officially made certain reforms upon the cryptocurrency and BTC. All these tend to be in favour of BTC profusely. Despite China’s strict ban on BTC, the U.S seems to be not so. This is one major reason, kind of like an encouragement for people to invest in BTC.
Secondly, El-Salvador’s BTC legal tender into complete action is also another vital reason. This is due to the fact that the partner for El-Slavador’s BTC legal tender, the Lightning Network along with various other 2nd layer payment solutions altogether surged up.
Thirdly, the inflation fever has again caught up among the investors in recent times. In spite of this, the possibility of inflation of BTC has kindled the interest among investors to invest more upon BTC. Also, more investors now seek BTC as an inflation hedge evidently.
“We wanted to change Europe for a new digital world. The support of our project by so many people proves that Europe is ready to take this global step”.
Austin Welsh – CEO & Co-Founder of EuroSwap EDEX
Few crypto projects today are so punctual and responsible to their community. EuroSwap completed the very first stage of the project’s development, keeping its word on every step of progress. The final chord in the completion of Priority Session was the introduction of the project team. Getting to know the organizers, developers and top managers of the project was excellent. The EDEX leadership team was warmly received by the community.
The founder of the project was a Briton Austin Welsh, a graduate of the IET Engineering University in Britain, who worked at BACS, one of the largest financial companies in the United Kingdom. The company has been involved in the development of payment systems throughout the UK for about 50 years. This experience will certainly help in the development of the project, which is going to become a European “bridge” between crypto and the euro. Mr. Welsh reportedly developed his first digital program at the age of 13 – just a year older than Elon Musk did – and he hasn’t stopped building projects and companies since.
Mr. Welsh’s right-hand man is Frenchman Daniel Moreau, who is Chief Financial Officer and responsible for developing the commercial component of the EuroSwap EDEX project. According to the developers, the project was initially supposed to be just another decentralized exchange with a small advantage over competitors. But it was Daniel who proposed to create the first DEX with the connection of the euro fiat gateway. Since then, the project has evolved into a digital phenomenon. With a background in banking with technology & telecoms clients, Daniel is leveraging his experience to set the financial strategic objectives for EuroSwap next phases of growth.
Swedish Nathan Pierson is responsible for global marketing. Nathan is a seasoned blockchain marketing professional, as well as a crypto enthusiast and trader since early 2017. Coming from another Layer 1 DeFi project, Nathan brings a wealth of knowledge on the marketing trends in the space.
The presentation shows that the EuroSwap team is international, drawn from many European countries. This adds to the project a global vision and makes EDEX a truly large-scale European DEX exchange with a link to the euro.
The journey of the Priority Session phase
The public development of the EuroSwap EDEX project began a month ago on November 06, 2021. Everything began with the fact that the developers made publicly available a fully working technology of the EDEX smart contract, which will form the basis of the future DEX technology. The team did all the necessary tests on the BSC network and submitted the technology to the audit companies. The project expects an audit decision in very early 2022, and that will be another big confidence boost. In the first weeks, the project submitted a test Swap to exchange the first BUSD / EDEX pair. This further confirmed the technology’s readiness to process smart contracts.
After the MVP of the project was submitted, the developers started to raise investments for further development. In fact, they launched a startup on the ready-made BSC contract system and invited the so-called Business Angels – participants of the project’s early venture investment stage – to participate in the project. The investors were offered favorable conditions for participation, as well as large shares of EDEX digital bonds, which guaranteed participation in the company’s profits. Thus, the EDEX project attracted more than 500 Business Angels in just one month.
EuroSwap created information zones on the majority of media platforms: Telegram, Twitter, YouTube, Medium, Reddit. The project ran a large-scale promotional campaign in major media outlets. It attracted the attention of hundreds of thousands of Europeans, and about 10,000 subscribers already follow the project’s social networks.
EDEX starts a new stage of development with a huge speed
This weekend the Priority Session was finished and started the main stage of EDEX token distribution. Now the team will focus on improving the security and credibility of the project. They started the new phase by introducing the main members of the project team. And that decision opens the door for them to apply to be added to Coinmarketcap Calendars & CoinGecko lists. If EDEX appears on even one of these lists, it will mean that the project has undergone a rigorous compliance review by fundamental crypto market analysts.
The main argument in favor of early participation in the EuroSwap EDEX project can be the unique Early Staking with rewards of up to 150% p.a. This means that any EDEX token holder will be able to earn extra income even at the Early Staking stage. The developers state that this tool will be fully available as early as January 2022. Until then, the project is expected to see several more gradual price increases. At this stage, early transitions to the next phases of development are possible, if demand greatly exceeds supply. In total, less than 15% of the entire 746,000,000 EDEX token issue is allocated to EDEX Early Sale. About half of that volume has already been received by EuroSwap Business Angels.
Crypto asset trading has continued to skyrocket in 2021, hitting new and unprecedented records:
Volumes reached $3.8 trillion in April 2021 when bitcoin hit its all-time high.
Between August 2020 to 2021, the traded value on large decentralized exchanges (DEXs), like Curve, Uniswap, and PancakeSwap grew by about 550%
Major centralized exchange (CEX) Binance’s spot cryptocurrency trading volumes totaled $789 billion in September, versus $454 billion (€390.7 billion) in July, while derivatives volumes jumped almost 25% to $1.7 trillion.
DEXs have been gradually grabbing market share from CEXs:
One of the major drivers of this trend is the perceived superiority of DEX on many fronts:
DEXs replace a centralized authority with automated protocols that enable trading and direct swapping of tokens, while CEX users give up control of their assets to the exchange’s servers.
DEXs provide the user full control of their assets, eliminating jurisdictional constraints, and negating the need for KYC procedures.
DEXs generally have lower trading fees compared to CEXs.
Despite their ongoing success, DEXs are still affected by a series of significant challenges.
Moreover, DEXs have been the subject of a growing number of cyber thefts and hacks:
In March 2021, the DODO DEX experienced a smart contract hack, with the attackers stealing approximately $3.8 million in cryptocurrency.
DEXs have not been able to solve the many security challenges of CEXs. As the crypto trading sector continues to expand, there is a strong market demand for a definitive trading solution – one with all the advantages of DEXs, without its weaknesses. This solution is about to come to market, and its name is Secretum.
Secretum: Crypto Trading, Reinvented.
Secretum is the world’s first and only fully decentralized, encrypted, and secure trading DApp built on the Solana Blockchain. The major innovation of Secretum is enabling the trading of all crypto assets (fungible and NFTs) directly between users, via a hybrid messaging + trading function. The defining features of Secretum are a game-changer for crypto trading.
A secure and anonymous sign-up process, which only needs the user’s crypto wallet address – no emails, names, or other personal data.
An easy, intuitive, and purely P2P trading interface to send and receive cryptocurrencies and NFTs.
A unique search function to locate the owners of specific NFT assets, enabling two parties to connect to each other solely via wallet address and trading.
Secretum’s advantages over DEXs are significant:
No risks of sensitive data leaks and full protection of the identity of crypto-asset owners. All data is stored on the independent and verified nodes in the Secretum network, with no central point of failure.
Traders are able to contact each other directly and find hidden liquidity in crypto markets – improving execution times and prices.
Secretum is ready to unleash its platform at a time where major DEXs are reaching valuations well into the billions of dollars:
As crypto trading continues to grow, hacking attacks and cyber theft will become an even larger threat in terms of frequency and size. Investors will therefore highly value a superior trading and private messaging platform with unrivaled security features. By leveraging the power of the Solana Blockchain to offer unique benefits to crypto traders, Secretum is positioning itself to be that platform. Secretum litepaper.
Yield is everything when finding the best crypto-assets for your portfolio, and there is no substitute for BNBPeach.io. As always, let us not forget the power of blockchain, the magic of smart contracts, and lately, the growth of Binance Smart Chain (BSC) as fuel for the Dapp market.
High-Yield Farming: All You Need to Know
Long-time DeFi investors know the power of patience. The global cryptocurrency market is expected to gain a significant leg-up this year and the next (Source: Goldman Sachs), leaving Dapps to leverage this potential source of growth.
There is no denying it has been a rough stretch for cryptocurrencies. But investors would be wise not to leave the smart contracts market for dead. In fact, yield farming looks attractive right now relative to its crypto counterparts.
Yield farming is, quite simply, a chance for crypto investors and enthusiasts to win big. It is an investment strategy that holds out for larger-than-life returns than the conventional investment offers these days.
The ‘use crypto to earn more crypto’ model is all the talk of investors. Put simply, it is taking a broad approach to protecting portfolios. Besides, when a crypto-firm manages to raise its yield year after year, it is making a powerful statement.
BNBPeach is the crème de la crème of yield farming Dapps that raise pay-out like clockwork day after day. The company has one principle fuelling its rise as the fastest-growing ROI-based yield farming Dapp – Binance Smart Chain (BSC).
It may sound strange, but you have to remember that unlike the big market cap cryptos such as bitcoin, the road to higher valuations is a tricky balancing act. The value of a currency is tied to the growth of its user base. Frankly speaking, building a user base takes time and a lot of funds.
More precisely, every cryptocurrency startup has an incentive to flood the market with new unit issues to grow the base. The downside: such a flood is more likely to erode away more value than it would gain.
BNBPeach offers ROI from 7.8% to 17% in seven to thirty days, depending on the investor’s deposit. It is also true to say the ROI to 119% to 234% in total. Such Dapp values are where the big money places its bets.
Sounds impressive and here’s how it all works. BNBPeach is a smart contract-based platform built as a Dapp on the Binance Smart Chain.
The idea is to leverage the value proposition of Binance Smart Chain in the most efficient way possible. In a year when high-flying cryptos have grabbed a huge chunk of headlines, investors would do well to remember that what really moves the market is yield farming.
To top it off, these smart contracts allow you to invest as little as 0.01 BNB to get started. But that’s not all, BNBPeach allows investors to withdraw at any time. It is an open-end platform with no restrictions for investment redemption.
So what could go wrong? There is theft, for one. But BNBPeach has been very meticulous about the safety of the smart contract, going as far as to commission an audit. The verdict: there are no vulnerabilities, backdoors, or scams.
In the event that you run into some headwinds on BNBPeach, you can always get in touch with the customer support teams 24/7. Like any other Dapp, BNBPeach is also cultivating a community on Telegram to deal with every query and concern.
BNBPeach is in pursuit to become a leading DeFi platform. What’s more, this DeFi is relatively low-risk, making it ideal for a market approaching its prime.
The cryptocurrency market has a lot of potential, but the volatility and high risk are a hard pass. BNBPeach is emerging as the most secure DeFi protocol on the Binance Smart Chain, where the users can simply deposit BNB for compound returns with a margin of safety.
BNBPeach has turned a smart contract into a savvy investment move. A big part of the Dapp’s success can be attributed to the success of Binance Smart Chain. And, it wouldd make for a great addition to any portfolio.