Following the collapse of initial coin offerings, venture capital became the primary funding source for cryptocurrency projects. A slew of crypto-native funds opened their doors, one of them being Framework Ventures, a fund primarily investing in decentralized finance that was co-founded by Michael Anderson and Vance Spencer. Cointelegraph previously reported on Anderson’s philosophy of network capital, a change in investing mindset that is almost necessary in a space where decentralized protocols take the place of traditional companies and equity structures. Framework Ventures has made several investments, notably into Chainlink’s LINK…
Day: September 12, 2020
This Top Macro Analyst Is Bullish on Ethereum’s Nexus Mutual (NXM)
Ethereum’s decentralized finance space has been catching a lot of attention over the past few weeks. This is for good reason: since the start of the year, the value of tokens locked in DeFi has surged in excess of 1,000%. Certain projects, too, have come under the scope of top investors. One macro analyst, Remi Tetot of Global Macro Investor and Real Vision, thinks that Nexus Mutual, an Ethereum-based decentralized mutual, is a project with strong potential. Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Remi Tetot…
Rumors of DeFi’s demise have been greatly exaggerated: weekly recap
DeFi projects have been dominating headlines as of late, and the unexpected departure by a high-profile founder had ripple effects throughout crypto markets. Here are the top stories from the past week: SUSHI’s parabolic surge upward came to an abrupt halt when the project’s head cashed in all his chips earlier this week, and the resulting selloff knocked the rest of DeFi, ETH and Bitcoin (BTC) down from their perches, some of which were highs for the year. There is, however, a silver lining to this cloud. Cryptocurrency market weekly…
Bullish pennant hints at Bitcoin price breakout to $11,300
Bitcoin (BTC) price appears to have entered the weekend on the good foot after a relatively uneventful Friday saw the price continue to fluctuate between $10,200-$10,400. Cryptocurrency daily market performance snapshot. Source: Coin360 At the time of writing the daily chart shows the top-ranked digital asset tightening into a pennant and since making a double bottom at $9,838, BTC has etched a pattern of higher lows which have now pinched the price into a tighter range. BTC/USDT daily chart. Source: TradingView While trading volume still leaves a lot to be…
An Article About DeFi And Ethereum’s SushiSwap Just Hit Bloomberg Terminals
It’s been quite the past few days for Ethereum, decentralized finance, and the entire crypto industry due to SushiSwap. SushiSwap marked a revolution in how protocols complete; the project, forked from Uniswap, has also marked a revolution in how and if anonymous developers can operate multi-million-dollar protocols. Unsurprisingly, with the unique journey that SushiSwap has been on, it has attracted the attention of mainstream investors and reporters. On Friday, Bloomberg released an extensive report on the SushiSwap saga entitled “Crypto Exchange Gets Millions After Copy-Paste of a Rival’s Code.” Many…
Why One On-Chain Analyst is Wary About Bitcoin’s “CME Gap” Narrative
One widespread narrative that cryptocurrency investors have been closely watching as of late is regarding Bitcoin’s propensity to fill gaps that are formed on its CME futures chart. Although this trend has proven to hold true in some cases with both Bitcoin and other assets, it is important to note that the narrative is laced with flaws, as multiple existing haps have not been filled in the past. Furthermore, one on-chain analyst is now noting that the existence of a gap between $9,700 and $9,850 may help the cryptocurrency form…
Early Bitcoin Investor Sees Parallels Between Now And 2016 Bull Breakout
Bitcoin price has spent the last two years hovering around $10,000 – a key resistance level that in the past has incited serious FOMO. But according to an early Bitcoin investor who has seen a thing or two, the cryptocurrency won’t hover around that price forever and sees parallels between the current price action compared the calm before the breakout into the last bull market. Early Crypto Investor: Bitcoin Can’t Hover Around $10,000 Forever The world will know soon enough if scarcity-focused valuation methods like the stock-to-flow model continue to…
Bitcoin Holding $10,000 Could Confirm The Bull Run Is Still On
Bitcoin needs to hold the current price region where it’s at now to confirm that it remains in a bull trend, analysts say. Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Bitcoin Needs to Hold $10,000 Bitcoin must hold $10,000 in the near future to confirm that it is in a bull market, one macro analysis suggested. A cryptocurrency chartist and trader shared the chart below, which shows Bitcoin’s macro price action along with an Ichimoku Cloud indicator. Bitcoin bounced off that level multiple times over the…
It’s Make or Break for Ethereum Bulls as ETH Nears Critical Resistance
Ethereum is flashing some signs of strength today as it inches higher while caught within a short-term consolidation phase. This consolidation trend came about after the cryptocurrency rallied to highs of $380 before facing some heightened selling pressure that caused its price to retrace back down towards $360. It is now trading squarely between these two levels, with buyers and sellers largely reaching an impasse as they both attempt to gain control over the cryptocurrency’s near-term outlook. This sideways trading bout has come about, in part, due to that seen…
A Gov official in South Korea proposed the nation’s first blockchain voting platform
On September 11, the head of the Seocho regional government proposed a blockchain-powered voting platform for residents, and praised the recent influx of crypto-related developments across the country. According to UpDown Korea, Cho Eun-hee, who is the local government leader of one of Seoul’s most affluent districts, believes that it is the “right time” to start using blockchain technology, “so any citizen can easily propose their opinions.” The official from Seocho called on the country to take on a greater role in our “rapidly changing modern society” in the wake…