Popular crypto strategist and trader Michaël van de Poppe is spotlighting the key levels of support for Cardano and Chainlink as Bitcoin struggles around $30,000. In a new video, Van de Poppe tells his 108,000 YouTube subscribers that Cardano (ADA) is currently holding support above $1.00, but if that level is lost, the crypto analyst […]
The post Cardano and Chainlink Bulls Could Step In at These Crucial Levels: Analyst Michaël van de Poppe appeared first on The Daily Hodl.
Chainlink is onboarding new partners twice as fast in 2021 compared to 2020.
Leading oracle provider, Chainlink, has onboarded partner integrations at a rate of more than 1.4 daily during 2021 so far.
According to the archives of Chainlink’s ecosystem portal, 281 different crypto projects have announced integrations during 2021 so far, with the calendar currently 201 days into the year.
With all time third-party Chainlink integrations currently totaling 650, that means 43% of the project’s partners were onboarded this year. By contrast, roughly 250 partners integrated with Chainlink during all of 2020.
While many of Chainlink’s partners are little-known projects in their nascent stages, some of the crypto sector’s leading players have recently teamed up with the oracle provider, including Huobi’s ECO Chain, the Hedera Governing Council, and Alchemix.
An increasing number of projects are also utilizing Chainlink’s Verifiable Random Function (VRF), which offers decentralized applications a secure and automated solution for generating randomization.
Related: Chainlink integration means metaverse can truly reflect the real world
For example, blockchain-powered game Infinity Skies announced it had teamed up with Chainlink on July 20 to distribute its in-game “loot” in a fair manner.
“Since loot is probabilistic and NFTs hold real value to players, it is imperative that the minting of loot cannot be ‘gamed’,” Infinity Skies stated.
“Chainlink VRF provides the Infinity Skies’ smart-contract responsible for chest opening with direct access to a tamper-proof and auditable random number to determine outcomes when opening chests.”
Crypto developers have come up with a wide array of novel applications for Chainlink’s VRF functionality, with PancakeSwap also integrating VRF for its decentralized lottery application last week. Other projects are using VRF to ensure prizes and rewards are issued in a verifiably fair fashion.
Closely-followed crypto analyst Aaron Arnold is naming four digital assets that he says are more ready than any to catch fire this month. In a new video, the host of Altcoin Daily starts off his list with Cardano (ADA), which according to the analyst, currently has undeniable growth potential. Arnold takes note of Cardano leading […]
The post These Four Crypto Assets Are Primed To Erupt in July, According to Trader Aaron Arnold appeared first on The Daily Hodl.
As the new month kicks off, crypto analyst and trader Michaël van de Poppe is eyeing Cardano (ADA), Chainlink (LINK) and four additional altcoins. Van de Poppe tells his 348,000 Twitter followers that Ethereum competitor Cardano is looking strong against Bitcoin (BTC), holding support at 0.000039 (3,900 sats) on the ADA/BTC chart. The analyst is […]
The post What’s Next for Cardano and Chainlink? Analyst Michaël van de Poppe Predicts Path of Six Crypto Assets appeared first on The Daily Hodl.
After OVR announced its integration with Chainlink on June 10th, now the team is proud to explain all the rules of OVR prize distribution powered by Chainlink Verifiable Random Function. In fact, OVR decided to collaborate with Chainlink VRF to determine the winner of its $15k OVR token prize extraction reserved to treasure hunters and […]
The fate of top oracle project Chainlink (LINK) lies with Bitcoin, remarks crypto analyst Benjamin Cowen. Cowen tells his 463,000 YouTube subscribers that Bitcoin has taken over the current phase of the market. Chainlink (LINK), like other altcoins, initially had a knee-jerk reaction to BTC’s pullback last month, according to the trader. “LINK does not […]
The post Here’s How High Chainlink Will Rise This Cycle, According to Crypto Analyst Benjamin Cowen appeared first on The Daily Hodl.
A survey reveals investors are still bullish on Bitcoin and other cryptocurrencies despite the recent market drop.
Despite Bitcoin (BTC) and the wider cryptocurrency market experiencing one of its worst crashes in recent memory, investors are apparently more bullish than ever regarding the future fortunes of Bitcoin and a host of altcoins.
That’s according to the results of a Q2 retail investment survey conducted by crypto firm Voyager Digital, which polled 3,671 high-frequency traders on the Voyager platform.
The survey’s findings revealed that 81% of respondents are more confident in the future of cryptocurrency, even after the violent price crash in April and May, which saw Bitcoin and others lose more than 50% of their value.
Many coins have since recovered significantly, although the market still remains uncertain. Despite this, 87% of the survey’s respondents said they planned to increase their crypto holdings over the next quarter — an increase on the 80% who said the same in Q1.
Some 39% of respondents said they expected the Bitcoin price to fall between $56,000 and $70,000 by the end of Q3 2021, while 28% predicted a Bitcoin price between $41,000 and $55,000. The percentage of respondents who believed Bitcoin would reach a price of $71,000 stood at 18%, down from the previous survey’s figure of 20%.
Notably, more than nine out of 10 of those polled said they thought the United States Securities and Exchange Commission would eventually approve a Bitcoin ETF — an exchange-traded fund that crypto proponents believe will boost the value of Bitcoin through exposing it to institutional investment.
Among the altcoins that respondents said they were most bullish on, Cardano (ADA) turned out to be the most popular. Some 55% said they were bullish on Cardano above any other altcoin, with Dogecoin (DOGE) coming in second (11%), followed by Chainlink (LINK) (6%) and Polkadot (DOT) (6%).
Voyager Digital CEO Steve Ehrlich said it was encouraging to see continued faith in the cryptocurrency market despite the recent crash. Ehrlich suggested the results of the survey indicate that most investors view the recent market dip as a buying opportunity, rather than a portent of worse to come.
“The fact that the vast majority of our large sample size of investors are more confident in the future of cryptocurrency, shows how people see May’s volatility in many crypto-assets as a buying opportunity,” said Ehrlich.
“Our findings show that 87% of investors are looking to increase their crypto holdings in the next quarter, a much higher percentage compared to the last survey we conducted in April,” he added.
Porsche announces NFT subsidiary, Chainlink oracles unlock special NFT content, and Mark Cuban continues to invest millions into companies targeting nonfungibles.
German sports car giant Porsche has drifted into the nonfungible token (NFT) market, with a June 14 announcement revealing the launch of an NFT collectible startup dubbed Fanzone.
However, the car manufacturer will not be looking to tokenize its luxury vehicles at this stage, instead opting to focus on soccer-themed NFT collectibles.
Fanzone, which was built from Porsche’s digital subsidiary Forward 31, has already inked partnerships with the German national men’s, women’s, and under 21 football teams. Fanzone also has a deal with the third tier of Germany's local professional league and intends to expand support to additional soccer leagues and other sporting codes in the future.
The NFTs will be ERC-20 tokens issued via the Lukso blockchain — which was founded by former Ethereum developer and creator of the ERC-20 and ERC-725 token standards, Fabian Vogelsteller.
“NFTs guarantee the rarity and identity of collectibles. Thanks to verifiable ownership, fans can benefit from value increases, for example, for limited editions,” the announcement stated.
The firm also emphasized its concerns regarding the ecological footprint of the NFT sector, stating it will donate part of Fanzone’s transaction costs to “sustainable sports and environmental projects.” Fanzone added that all of its employees currently travel to work using “emission-free” methods.
Genshiro, the Kusama-based parachain of major Polkadot project, Equilibrium, is launching a limited-edition collection of Chainlink-integrated NFTs celebrating five popular crypto assets.
The Ethereum-based NFTs depict cartoon kitties inspired by Bitcoin, Ether, Polkadot, Kusama, and Genshiro, with the Chainlink price oracle integration serving to unlock special functionality when significant price milestones are reached.
For example, golden versions of the BTC-themed kitties will be unlocked for NFT holders should the price of Bitcoin cross above $100,000.
.@GenshiroDeFi integrates #Chainlink Price Feeds into its collection of cat #NFTs, with purchases helping fund their Kusama parachain auction bid. Each dynamic NFT will mint a golden cat version if the underlying asset it represents hits a certain price.https://t.co/SZ3E2y2feR
— Chainlink - Official Channel (@chainlink) June 14, 2021
Nonfungible-focused startup, NFT, Genius has closed a seed funding round backed by a star-studded line-up of investors, including billionaire Mark Cuban, Dapper Labs CEO, Roham Gharegozlou, Bitcoin proponent and Morgan Creek Digital co-founder, Anthony Pompliano, and actor Ashton Kutcher.
Details are sparse on what the funding will go towards, however, the firm currently has three NFT projects in the works, including “Gaia” — a music-focused marketplace slated for launch on Dapper’s Flow blockchain, cannabis-themed collectibles dubbed “Cryptobuds,” and “Sidekick” — comic-inspired NFTs designed by award-winning comic book writer, Paul Jenkins.
The company also plans to expand the Gaia marketplace to host NFTs from the sports, gaming, and comedy niches in the future.
Despite officially still under development, NFT Genius launched the collectible series “Bitcoin Origins” in October 2020 — featuring tokenized collectibles celebrating major moments in Bitcoin’s history.
According to data from Crypto Slam, Bitcoin Origins’ tokens have generated more than $440,000 in sales on secondary markets over the past 30 days.
The composer behind Mad Max: Fury Road and Zach Snyder’s Justice League, Tom Holkenborg, is auctioning off an NFT offering the highest bidder a custom 20-minute musical score inspired by their life story.
The auction, titled “Soundtrack of Your Life,” is set to go live on Tezos backed NFT marketplace AmplifyX on June 17 and will have a starting price of $1,000.
The listing states that the original score will be informed by “a series of interviews that encapsulates the unique victories, heartbreaks, memories and emotions that make up their lives.”
Related: Nifty News: Doge NFTs much wow, Paris Hilton is an NFT advisor, NFT game raises $3M
AmplifyX will also host Holkenborg’s NFT drop “Despite All That Was,” which offers three open-edition digital artworks depicting UFO-like spacecraft designed by pseudonymous visual artist, “Space Renders,” accompanied by original music from Holkenborg.
The artworks are priced between $100 and $300 each. Collectors who obtain all three NFTs will unlock additional music composed by Holkenborg.
Crypto strategist and trader Michaël van de Poppe is unveiling the five altcoins that he is betting on this June. In a new video, Van de Poppe says he is keeping an eye on liquidity aggregator Orion Protocol as he sees the low-cap altcoin holding up well against Bitcoin (ORN/BTC) despite overall market volatility. “The […]
The post Top Trader Is Buying the Big Dip on These 5 Altcoins appeared first on The Daily Hodl.
Looking to build a diversified crypto portfolio? DeFi, stablecoins and oracles are three cornerstone sectors to consider.
Welcome to Cointelegraph Market’s Altcoin Roundup, an in-depth newsletter that focuses on investing from the perspective of fundamental analysis and seeks to identify emerging blockchain projects and tokens that fill niche demands within the growing cryptocurrency market.
The concept of multi-sector investing has long been advocated in traditional finance as the conventional approach to building a balanced portfolio. Typical allocations include representation of stocks, government and corporate bonds, commodities and real estate.
Now that the cryptocurrency market has grown to a multitrillion-dollar ecosystem with numerous emerging assets, clear sectors are beginning to emerge. Savvy crypto investors looking to apply portfolio diversification practices to their holdings should begin to pay attention.
The previous Altcoin Roundup discussed some of the top layer-one solutions and coins like Polkadot/DOT, Cosmos/ATOM and Solana/SOL that have been gaining prominence over the past year, but these projects could also fall under the large-cap investment umbrella alongside high-profile assets like Bitcoin (BTC), Ether (ETH) and Cardano’s ADA.
Once an investor has an adequate representation of blue-chip projects, other emerging sectors like decentralized finance (DeFi), oracles and stablecoins can be considered.
Decentralized finance emerged during the summer of DeFi in 2020, and the sector helped kick off the current bull market by bringing a new level of excitement to the crypto ecosystem, which was in need of the next big innovation.
One of the best metrics used to demonstrate the rising success of DeFi as a whole is the total value locked (TVL) ranking, which collectively reached an all-time high at $157.63 billion on May 14, according to data from Defi Llama, and stands at $116.62 billion at the time of writing.
The release of Uniswap’s decentralized exchange (DEX) interface — which enabled new projects to immediately launch and made tokens available to the general public — helped ignite a wave of growth and innovation across the market that continues to expand to this day.
In less than a year, Uniswap evolved into the top DEX serving the crypto community, seeing an all-time record of $5.74 billion in 24-hour trading volume during the market sell-off on May 19 and $5.37 billion in total volume locked on the platform.
The vast array of liquidity pools is the primary allure for investors looking to diversify their crypto portfolio. Through these pools, stakers have the ability to earn a yield by providing liquidity for the exchange in return for a portion of the trading fees. A number of pools offer staking returns ranging from 25% to 2,000%, and traders are able to select pools based on a variety of factors, including their appetite for risk.
While Uniswap has led the way for DEXs, there are other options like Aave’s lending platform that has emerged as the highest-ranking DeFi protocol by total value locked, with more than $14.1 billion in TVL at the time of writing.
Aave’s recent decision to offer layer-two (L2) access on Polygon has brought renewable energy to the AAVE ecosystem, as traders and liquidity gladly migrated to the lower-fee environment offered on Polygon. This resulted in a significant boost in TVL for both AAVE and Polygon’s native token, MATIC, which is now the second-ranked protocol by TVL, with $11.08 billion locked on the protocol.
Every balanced portfolio also has a small 1% to 5% allocation reserved for higher-risk assets, and the crypto market has no shortage of high-risk, high-growth assets.
For tokenholders who are open to a little more risk in return for higher yields, the Binance Smart Chain-based PancakeSwap boasts a TVL of $7.67 billion, and offers annual percentage rates (APR) of up to 482.54%, according to the project’s website, with all rewards paid out in the protocol’s native CAKE token.
Though a token that stays pegged to a fixed value may not sound like the most attractive opportunity for investors, stablecoins have evolved to play a crucial role in the functioning of the wider cryptocurrency ecosystem.
Stablecoins often serve as the backbone of trading pairs on centralized and decentralized exchanges, as well as offering traders a simple way to lock in gains.
The two most prominent stablecoins are Tether (USDT) and USD Coin (USDC), which have circulating supplies of $60.9 billion and $21.6 billion tokens, respectively. Tether is currently the most traded crypto token, boasting 24-hour trading volumes that range from $100 billion to $290 billion.
Other popular stablecoins include Binance USD (BUSD), the stablecoin created for use within the Binance Smart Chain ecosystem, as well as the algorithmically controlled stablecoin DAI, which is minted via pledging collateral on the Maker protocol.
For those looking to earn a little extra yield while in the safety of stablecoins, there are multiple options available such as depositing tokens into a lending protocol like AAVE to earn up to 5% on deposits or the decentralized stablecoin exchange Curve, which offers yields of up to 50% for some stablecoins pools offered.
Other popular options include supplying liquidity for the various decentralized exchanges like PancakeSwap, which offers 8.64% for its DAI-BUSD liquidity pool, or QuickSwap, which offers a reward plus fee of the annual percent yield of 15.01% for its USDT-USDC pool and 26.75% for its DAI-USDC pool.
In a world that is becoming increasingly dominated by digital data, no cryptocurrency portfolio would be complete without access to an oracle provider. These entities are the industry’s heavyweights that facilitate the secure exchange of data and information within the cryptocurrency ecosystem, as well as wider financial markets.
Currently, Chainlink is one of the most dominant oracle projects and a key player that comprises a thriving open-source community of data providers, node operators, smart contract developers, researchers and security auditors.
We're half way through May and $LINK already boasts 35 integrations!
— TheLinkMarine 2.0 (@TheLinkMarine1) May 18, 2021
I see an integrations all time high being smashed with ease this month.
With #Chainlink you just win, in every possible aspect.
View all Chainlink integrations at: https://t.co/vb2t14UStM pic.twitter.com/ERd2xgeDdc
While the Chainlink network doesn’t currently offer a direct way to earn a yield through a simplified staking or governance mechanism, it is easy for tokenholders to put their stash to work in DEX liquidity pools and DeFi protocols like Aave.
For investors who are not ready to trust decentralized exchanges and DeFi platforms, centralized yield-bearing companies like Nexo, Celsius and BlockFi are also available for crypto investors looking to earn a return on their holdings.
Centralized exchanges like Coinbase and Binance also offer direct staking capabilities. For example, investors could stake BAND for up to 11.7% APR on major exchanges.
As a result of the May sell-off, which saw more than $1.2 trillion in value wiped out of the cryptocurrency market, many of the top projects are now well below their all-time high values and trading at what some investors would describe as “bargain bin” prices.
While market participants remain unsure as to which way prices are headed in the short term, it would be wise to investigate these opportunities sooner rather than later, as the notoriously volatile crypto market can make significant moves at the drop of a hat.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
