Author: dfmines

Cardano managed to enter the top 5 cryptocurrencies by market cap and take the number 4 position, not including USDT. The cryptocurrency has seen important appreciation in 24 hours (5%) and during the past week (25%) following an explosion in its ecosystem. Related Reading | Cardano’s Ecosystem Explodes, Why ADA Could Be Quick To Resume Bullish Trend As of press time, ADA trades at $1.47 as it bounces up its lows in the 4-hour chart. Cardano was heavily impacted by recent months price action in the crypto market. After reaching an all-time high north of $2,20, the cryptocurrency lagged and dipped back into its critical support zone just above $1. Economist Michaël van de Poppe believes ADA has begun an upward trend after bouncing back from the lows with continuation but could yet present a buying opportunity. The analyst has been bullish on ADA for a while and believes $1 will remain critical support. As seen below, Cardano (ADA) has constantly bounce back from these levels on every major dropped including March and July 2021 when the entire crypto market saw a crash of over 50%. At the moment, ADA’s price approaches resistance near $1.53 and could yet give traders an opportunity to take a long position. Van de Poppe claimed the following on Cardano’s potential future price action: If you want to get into Cardano and you didn’t really get the chance you were looking for (…). In that case, we are looking at long entries at the lower boundaries so around $1.3. We are looking at support here on a daily timeframe. On lower timeframes, van de Poppe believes traders shouldn’t be chasing positions, but $1.41 could provide an “aggressive” opportunity to take a long. In that sense, Cardano must break above $1.55 to continue its bullish momentum. Cardano Experiences Ecosystem Explosion Even if ADA manages to break above the aforementioned resistance, the price could form a consolidation zone above those levels which could present a more efficient opportunity to take a long position. Should Cardano sustain those levels, its price could start targeting former highs at around $2 and $2.33. Although Cardano has been trading with more strength than some of the other cryptocurrencies in the market, Bitcoin must maintain its current levels or trend upside to prevent ADA for re-testing its support levels. At the moment, Bitcoin seems to be leaning for more downside for the short term. ADA’s recent bullish price action seems to have been driven due to a growth in the number of projects building on the network. As NewsBTC reported a week ago, there are currently over 200 projects leveraging the network smart contract capabilities. Related Reading | Cardano Set To Enter The Babbage Era After Alonzo HFC Milestone

EIP-3668: CCIP Read: Secure offchain data retrieval with Nick Johnson Follow the recording for an overview & demo presented on EIP-3668 by Nick Johnson on PEEPanEIP with Ethereum Cat Herders. EIP-3668: CCIP Read is in "Last Call" with deadline ending on Jan 24. Should you have any thoughts, questions on the proposal, share it with…
Read more

Title says it all, for all you new investors that are probably holding portfolios in the red right now and are worried about continuing to DCA into your coins because there are people claiming that 'the markets are absolutely going to crash' were probably the same people that predicted that BTC will absolutely hit $100k…
Read more

We've seen this happen almost every time Crypto dipped in the past. Those who followed their original strategy and didn't panic, were the ones who eventually got the most out of the market. People that panic not only leave the market with losses, they kill off future potential gains too. Meanwhile, people that accumulate during…
Read more

Surprising the world, Fidelity predicts what Bitcoin’s game theory implies. It’s as Satoshi Nakamoto said, “It might make sense just to get some in case it catches on.” That’s the exact same conclusion that Fidelity reaches in its “Research Round-Up: 2021 Trends And Their Potential Future Impact” report. Take into account that Fidelity is a multinational financial services corporation, it doesn’t get more mainstream than this. I agree with @Fidelity, of course, but still astonishing to read this on Bitcoin adoption game theory in such a mainstream financial report: pic.twitter.com/7zRO9rEele — Alex Gladstein 🌋 ⚡ (@gladstein) January 13, 2022 What did Fidelity say about Bitcoin adoption at the nation-states and central bank level?  They put it very clearly: “We also think there is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers. Therefore, even if other countries do not believe in the investment thesis or adoption of bitcoin, they will be forced to acquire some as a form of insurance. In other words, a small cost can be paid today as a hedge compared to a potentially much larger cost years in the future.”  In other words, It might make sense just to get some in case it catches on. And, as Stacy Herbert said, “First mover advantage goes to El Salvador”. At least if we’re talking out in the open, because other countries might be accumulating Bitcoin on the down-low. For example, Venezuela seized a lot of ASICs from private miners. Chances are those are active in a warehouse somewhere. And, of course, there are rumors that the USA is already mining. Fidelity is one of the biggest asset managers in the world They see what ID-10ts fail to understand First mover advantage goes to 🇸🇻 Game over for fiat, game on for #bitcoin 🌋🇸🇻 pic.twitter.com/I0Jlp8baVY — Stacy Herbert 🇸🇻 (@stacyherbert) January 13, 2022 In any case, what does Fidelity conclude? “We therefore wouldn’t be surprised to see other sovereign nation states acquire bitcoin in 2022 and perhaps even see a central bank make an acquisition.” If those players do it in the open, it will probably trigger a race like no other. A race in which it will be too risky not to participate.  Speaking About Bitcoin Mining… Fidelity’s report summarized 2021, it goes through most of the major stories that NewsBTC has covered ad nauseam. The company doesn’t try to figure out why did China ban Bitcoin mining, but it highlights how fast the hashrate recovered.  “The recovery in hash rate this year was truly astounding and one that we think demonstrates several issues that will be important to keep in mind for 2022 and beyond.” The Fidelity report also highlighted how well the network responded. “This has now been tested and bitcoin’s network performed perfectly.” BTC price chart for 01/17/2022 on Eightcap | Source: BTC/USD on TradingView.com What Does Fidelity Say About The Ecosystem In General? The report wasn’t exclusively about Bitcoin, they also identified the biggest trends in the wide crypto sphere. “The biggest non-Bitcoin themes put on display this past year included the massive issuance of stablecoins, the maturation of decentralized finance, and the early days of non-fungible tokens.” And about those trends, Fidelity predicted: “The growth in interconnectivity between siloed blockchains” “Traditional fintech companies partnering or building capabilities to interact with DeFi protocols” “The dawn of decentralized algorithmic stablecoins has officially begun.” Responding to the “growth in demand for more regulated, centralized stablecoins.” “While the long-term value of these NFTs is not known, the impact of increased digital property rights for art, music, and content is likely to be meaningful in some form.” In general, Fidelity thinks that investment in digital assets will keep growing: “Allocating to digital assets has become far more normalized over the past two years for all investors. The Fidelity Digital Assets 2021 Institutional Investor Survey found that 71% of U.S. and European institutional investors surveyed intend to allocate to digital assets in the future. This number has grown across each individual region of the survey for the past three years, and we expect 2022 to show another year of higher current and future asset allocations to digital assets amongst institutions.”  However, something has to happen to catalyze widespread institutional adoption. “The key to allowing traditional allocators to continue to pour capital into the digital asset ecosystem revolves around regulatory clarity and accessibility.” Is 2022 the year of regulatory clarity? What will happen first, institutional adoption of cryptocurrencies or nation-states adoption of Bitcoin? What central bank will earn first-mover advantage? Burning questions for the year ahead. Featured Image by Damir Spanic on Unsplash | Charts by TradingView

It puts things into perspective. What even is money if it can come and go so easily? Crypto is so relentless in how volatile it is, sometimes you wonder if you'll wake up and be more successful than you ever could imagine. Does anyone else relate? I got back into this ages ago, and I've…
Read more

Under the handle “Paco De La India”, the YouTuber said he planned to visit 40 countries, often using Bitcoin transactions to pay for everything he needed.

OK, I've not studied it a lot yet, but: So some hot takes to burn me with: 1) if coupled with large inflation disadvantages passive holders. 2) if coupled with voting rights disenfranchised those who can not lock. 3) pulls tokens out of market liquidity – thin markets may discourage some entry. 4) 4 year…
Read more

Despite the fact that regulations have tightened and bureaucrats worldwide are scrutinizing cryptocurrency usage, a few privacy coins have jumped considerably higher in value over the last week. Monero jumped 13% during the last seven days, while the token secret increased 50%, and dusk spiked by 47% this past week. Monero, Secret, Dusk Network Values […]