Analysts explained the popularity of decentralized exchanges
Decentralized exchanges rapidly gaining popularity thanks to methods of distribution of the proceeds.
This opinion was expressed by Pedro Negron, the junior analyst of IntoTheBlock in his blog.
Specifically, he drew a parallel between the centralized Coinbase exchange and Uniswap, its decentralized counterpart.
Founded in 2012, Coinbase recorded its peak trading volume in May 2021.
Back then, the total amount of money on the exchange reached the $200 billion mark.
Uniswap is a younger site compared to Coinbase, which appeared in 2018.
Deployed on multiple sidechains at once, the exchange also recorded its peak in May 2021 and processed ~$78 billion then.
Here, however, lies a key difference from the centralized exchange model.
As Negron points out, commissions from trades go not to shareholders, but to so-called "liquidity providers."
These are the people who supply cryptocurrency to the public pool of the decentralized exchange, so that transactions on the platform take place with a lower spread.
For their service, the providers receive a percentage of commissions, which makes decentralized exchanges more attractive to investors and traders.
💎 @TgBitcoin
Decentralized exchanges rapidly gaining popularity thanks to methods of distribution of the proceeds.
This opinion was expressed by Pedro Negron, the junior analyst of IntoTheBlock in his blog.
Specifically, he drew a parallel between the centralized Coinbase exchange and Uniswap, its decentralized counterpart.
Founded in 2012, Coinbase recorded its peak trading volume in May 2021.
Back then, the total amount of money on the exchange reached the $200 billion mark.
Uniswap is a younger site compared to Coinbase, which appeared in 2018.
Deployed on multiple sidechains at once, the exchange also recorded its peak in May 2021 and processed ~$78 billion then.
Here, however, lies a key difference from the centralized exchange model.
As Negron points out, commissions from trades go not to shareholders, but to so-called "liquidity providers."
These are the people who supply cryptocurrency to the public pool of the decentralized exchange, so that transactions on the platform take place with a lower spread.
For their service, the providers receive a percentage of commissions, which makes decentralized exchanges more attractive to investors and traders.
💎 @TgBitcoin
Bitcoin bull run from March 2020 to May 2021 was accompanied by supply leaving exchanges for ~2 years.
Bitcoin supply on exchanges has been in a 9 month range since then...and so has the price!
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👉🏼 @TgBitcoin
Bitcoin supply on exchanges has been in a 9 month range since then...and so has the price!
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👉🏼 @TgBitcoin
In February 2010, it was possible to earn 250 BTC in one day using a regular personal computer - that's over $10 million now.
💎 @TgBitcoin
💎 @TgBitcoin
JUST IN: Fed to ban senior officials from trading crypto among others, after a trading scandal
Most of the restrictions will take effect on May 1, 2022, although the new rules on the advance notice and pre-clearance of transactions will take effect on July 1.
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👉🏼 @TgBitcoin
Most of the restrictions will take effect on May 1, 2022, although the new rules on the advance notice and pre-clearance of transactions will take effect on July 1.
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👉🏼 @TgBitcoin
Warren Buffett's partner compared cryptocurrency to an STD
Berkshire Hathaway vice chairman and longtime partner of Warren Buffett, Charles Munger, 98, said at the Daily Journal annual meeting in Los Angeles that he was proud not to have invested in digital assets.
The businessman said he views cryptocurrencies negatively for their use by extortionists, terrorists, and tax evaders.
According to Munger, U.S. authorities should immediately ban cryptocurrency, as they have done in China.
Interesting position, agree with him?
Personally I don't, to me it looks like a logical evolution of money, just like the internet will later be Web3.
💎 @TgBitcoin
Berkshire Hathaway vice chairman and longtime partner of Warren Buffett, Charles Munger, 98, said at the Daily Journal annual meeting in Los Angeles that he was proud not to have invested in digital assets.
The businessman said he views cryptocurrencies negatively for their use by extortionists, terrorists, and tax evaders.
According to Munger, U.S. authorities should immediately ban cryptocurrency, as they have done in China.
Interesting position, agree with him?
Personally I don't, to me it looks like a logical evolution of money, just like the internet will later be Web3.
💎 @TgBitcoin
Ukraine legalizes Bitcoin as tensions with Russia persist
Ukraine has now legalized Bitcoin and cryptocurrencies after the country’s parliament approved a final reading of the “Law on Virtual Assets” bill.
The law will provide a legal framework, overseen by the National Securities Commission (NSC), covering all aspects to do with investing in this asset class.
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👉🏼 @TgBitcoin
Ukraine has now legalized Bitcoin and cryptocurrencies after the country’s parliament approved a final reading of the “Law on Virtual Assets” bill.
The law will provide a legal framework, overseen by the National Securities Commission (NSC), covering all aspects to do with investing in this asset class.
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👉🏼 @TgBitcoin
Fundstrat predicts bitcoin to rise to $200,000.
The baby boomer generation isn't investing in bitcoin at the moment, Tom Lee, managing partner at investment research firm Fundstrat Global Advisors, told CNBC.
He believes that's the main reason holding bitcoin's price back at its current level.
If baby boomers start buying bitcoin en masse, its price will rise to $200,000, Lee argues.
"76% of all wealth in America is controlled by people over the age of 65. Nearly $100 trillion is owned by people thinking bitcoin is still a kind of hobby," explained the managing partner of Fundstrat Global Advisors.
CNBC
💎 @TgBitcoin
The baby boomer generation isn't investing in bitcoin at the moment, Tom Lee, managing partner at investment research firm Fundstrat Global Advisors, told CNBC.
He believes that's the main reason holding bitcoin's price back at its current level.
If baby boomers start buying bitcoin en masse, its price will rise to $200,000, Lee argues.
"76% of all wealth in America is controlled by people over the age of 65. Nearly $100 trillion is owned by people thinking bitcoin is still a kind of hobby," explained the managing partner of Fundstrat Global Advisors.
CNBC
💎 @TgBitcoin
Switzerland's Crypto Valley:
- 1,128 companies
- 6,002 employees
- 10 Unicorns (+$1B)
- 2 Decacorns (+$10B)
- 1 Hectocorn (+$100B)
- Combined value of $611.8B
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👉🏼 @TgBitcoin
- 1,128 companies
- 6,002 employees
- 10 Unicorns (+$1B)
- 2 Decacorns (+$10B)
- 1 Hectocorn (+$100B)
- Combined value of $611.8B
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👉🏼 @TgBitcoin
UAE Prepares to Launch Nationwide Crypto Licensing System in Line With Global Standards
The United Arab Emirates (UAE) is getting ready to start issuing federal licenses to cryptocurrency service providers in the first quarter. The UAE crypto regulation will take a hybrid approach. The government hopes that a nationwide crypto licensing system will attract big companies to the region.
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👉🏼 @TgBitcoin
The United Arab Emirates (UAE) is getting ready to start issuing federal licenses to cryptocurrency service providers in the first quarter. The UAE crypto regulation will take a hybrid approach. The government hopes that a nationwide crypto licensing system will attract big companies to the region.
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👉🏼 @TgBitcoin
Meet . He tries investing in the hype cryptocurrency TON and checks what will happen.
In he takes apart all the prerequisites for growth or decline and reveals almost all the insides of the TON team.
Advise you to and follow Alex, as everyone saw the large-scale ad of Durov's legacy, thus the lamb is not far off:)
💎 @TgBitcoin
In he takes apart all the prerequisites for growth or decline and reveals almost all the insides of the TON team.
Advise you to and follow Alex, as everyone saw the large-scale ad of Durov's legacy, thus the lamb is not far off:)
💎 @TgBitcoin
Analyst predicted the surge of Bitcoin and Ethereum competitor
Cryptoanalyst Smart Contracter wrote the price of Avalanche first among the top 20 cryptocurrencies with the largest market capitalization would set a new historical high.
Avalanche is a cryptocurrency based on the platform of the same name.
According to the developers, it benefits from a higher transaction speed.
Thus, the official website of the project states 4.5 thousand transactions per second.
For comparison, bitcoin's rate is 6 transactions per second.
Analyzing the dynamics of altcoin, Smart Contractor concluded that AVAX not only rebounded from the Fibonacci level of 0.618, but also broke through the downtrend.
The expert is convinced Avalanche would demonstrate better results compared to its rivals in the future.
💎 @TgBitcoin
Cryptoanalyst Smart Contracter wrote the price of Avalanche first among the top 20 cryptocurrencies with the largest market capitalization would set a new historical high.
Avalanche is a cryptocurrency based on the platform of the same name.
According to the developers, it benefits from a higher transaction speed.
Thus, the official website of the project states 4.5 thousand transactions per second.
For comparison, bitcoin's rate is 6 transactions per second.
Analyzing the dynamics of altcoin, Smart Contractor concluded that AVAX not only rebounded from the Fibonacci level of 0.618, but also broke through the downtrend.
The expert is convinced Avalanche would demonstrate better results compared to its rivals in the future.
💎 @TgBitcoin
EU Is Open to Cryptocurrency But With Regulation, Top Official Says
The European Union is open to cryptocurrencies including Bitcoin or a digital euro but regulations must first be strengthened to prevent fraud, EU Commissioner for Home Affairs Ylva Johansson said at the Munich Security Conference Friday.
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👉🏼 @TgBitcoin
The European Union is open to cryptocurrencies including Bitcoin or a digital euro but regulations must first be strengthened to prevent fraud, EU Commissioner for Home Affairs Ylva Johansson said at the Munich Security Conference Friday.
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👉🏼 @TgBitcoin
A Hacker Is Actively Stealing High-Value NFTs From OpenSea Users
A hacker or hackers are actively stealing and flipping high-valued NFTs from users on OpenSea, the world’s largest NFT exchange, causing chaos and confusion in the broader NFT community.
OpenSea says: “We are actively investigating rumors of an exploit associated with OpenSea related smart contracts. This appears to be a phishing attack originating outside of OpenSea's website.
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👉🏼 @TgBitcoin
A hacker or hackers are actively stealing and flipping high-valued NFTs from users on OpenSea, the world’s largest NFT exchange, causing chaos and confusion in the broader NFT community.
OpenSea says: “We are actively investigating rumors of an exploit associated with OpenSea related smart contracts. This appears to be a phishing attack originating outside of OpenSea's website.
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👉🏼 @TgBitcoin
UAE authorities to grant licenses to cryptocompanies operating in the country
The United Arab Emirates hopes to attract more cryptocurrency companies to the country by issuing them special licenses.
The regulatory system is already in the final stages of development, authorities announced.
The new approach will take into account the experience of the U.S., U.K. and Singapore.
The Securities and Exchange Commission and the Central Bank will be in charge of overall control, while regional financial centers will deal with issuing licenses, Bloomberg said.
The official position of Abu Dhabi is to provide the most favorable climate, including for cryptocurrency mining.
Who's going where, but I'm heading to the UAE...
💎 @TgBitcoin
The United Arab Emirates hopes to attract more cryptocurrency companies to the country by issuing them special licenses.
The regulatory system is already in the final stages of development, authorities announced.
The new approach will take into account the experience of the U.S., U.K. and Singapore.
The Securities and Exchange Commission and the Central Bank will be in charge of overall control, while regional financial centers will deal with issuing licenses, Bloomberg said.
The official position of Abu Dhabi is to provide the most favorable climate, including for cryptocurrency mining.
Who's going where, but I'm heading to the UAE...
💎 @TgBitcoin
SafeMoon pump and dump lawsuit targets Jake Paul, Soulja Boy, and others
The new proposed class action alleges that SafeMoon recruited a number of celebrities to lure investors in with misleading promotions.
SafeMoon, a Binance Smart Chain-native cryptocurrency, allegedly recruited a number of celebrities to lure investors in with misleading promotions. Some of the prominent names roped in by the class action include musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips.
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👉🏼 @TgBitcoin
The new proposed class action alleges that SafeMoon recruited a number of celebrities to lure investors in with misleading promotions.
SafeMoon, a Binance Smart Chain-native cryptocurrency, allegedly recruited a number of celebrities to lure investors in with misleading promotions. Some of the prominent names roped in by the class action include musicians such as Nick Carter, Soulja Boy, Lil Yachty and YouTubers Jake Paul and Ben Phillips.
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👉🏼 @TgBitcoin
JPMorgan cautions crypto investors about huge losses
The cryptocurrency market likely to further decline as the U.S. Federal Reserve raises interest rates, JPMorgan Chief Global Strategist David Kelly told Business Insider.
He said the Fed's action would end an era of "insane speculation" in the digital asset market.
"I expect a huge decline in the cryptocurrency market because there's nothing there," Kelly noted.
The JPMorgan strategist explained that when interest rates rise, investors quit investing in "crazy ideas" as they prefer projects that produce real economic returns.
💎 @TgBitcoin
The cryptocurrency market likely to further decline as the U.S. Federal Reserve raises interest rates, JPMorgan Chief Global Strategist David Kelly told Business Insider.
He said the Fed's action would end an era of "insane speculation" in the digital asset market.
"I expect a huge decline in the cryptocurrency market because there's nothing there," Kelly noted.
The JPMorgan strategist explained that when interest rates rise, investors quit investing in "crazy ideas" as they prefer projects that produce real economic returns.
💎 @TgBitcoin
Despite Recent Threats From Canadian Officials, ‘Real Crypto’ or Decentralized Assets Cannot Be Frozen
Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, cannot be frozen directly within the network. However, the Canadian government can flag specific digital currency addresses and take it even further, by asking centralized entities like crypto exchanges and payment processors to freeze the funds.
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👉🏼 @TgBitcoin
Over the last week, there’s been a lot of discussion about Canada ‘freezing’ digital currency accounts that are associated with the Canadian trucker’s Freedom Convoy. Amid the topical conversation, it should be stressed that decentralized cryptocurrencies like bitcoin and ethereum, cannot be frozen directly within the network. However, the Canadian government can flag specific digital currency addresses and take it even further, by asking centralized entities like crypto exchanges and payment processors to freeze the funds.
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👉🏼 @TgBitcoin
Metamask suggest making a hardware wallet out of an old phone you no longer use.
Anyone care to give it a try?
Personally, I feel it's more reliable to use a real hardware wallet.
💎 @TgBitcoin
Anyone care to give it a try?
Personally, I feel it's more reliable to use a real hardware wallet.
💎 @TgBitcoin
“You want to talk about Bitcoin going to ... $300K, it's going to happen when institutions can finally buy it,” said Kevin O’Leary.
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👉🏼 @TgBitcoin
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👉🏼 @TgBitcoin
Next bitcoin bull run won't happen until end 2024, says top crypto exchange co-founder
Bitcoin may not see a bull market until late 2024, when the next "halving" event is scheduled to take place, Huobi co-founder Du Jun said.
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👉🏼 @TgBitcoin
Bitcoin may not see a bull market until late 2024, when the next "halving" event is scheduled to take place, Huobi co-founder Du Jun said.
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👉🏼 @TgBitcoin