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Crypto-backed lending service CEX.IO LOAN, launched in October 2020, has been experiencing major demand, receiving over $100M worth of loan requests to date. Most of the requests came from institutional investors, despite the service’s popularity among retail clientele, as well.
According to CEX.IO LOAN, such an increase in demand can be attributed to the institutionalization of the crypto-industry. Institutional investors in possession of cryptocurrencies regard it as collateral for borrowing funds and use it as such.
They prefer the company’s service due to the convenience it offers to users. On the CEX.IO LOAN platform, customers can borrow cash against their cryptoassets in a quick and simple manner, without having to deal with credit checks or any unnecessary paperwork.
CEX.IO LOAN serves various cryptocurrency market participants, from retail investors and traders to startups and large enterprises. Users can borrow any amount between $500 and $100,000 at competitive interest rates starting at 8.75% per year and the loan duration ranging from seven days to one year.
The service has already experienced high demand from VIP clients, with 41% of all CEX.IO LOAN customers borrowing cash against Bitcoin, 53% – against Ethereum, and 6% – against decentralized finance (DeFi) tokens.
While retail investors borrow $1,400 on average, VIP clients request larger-sized loans, with the typical amount being $1 million or higher. Institutional clients also need the funds for more extended periods (usually, 6-12 months), which indicates a long-term asset management strategy.
“As institutional investors find the digital asset industry increasingly attractive, it’s a pleasure to serve them with our enterprise-grade instant crypto-backed loan platform. Security, convenience, and compliance are key priorities for corporate clients, which are features that we have been providing to all our clients in the rapidly growing CEX.IO ecosystem,” Anton Chashchin, Commercial Director for the CEX.IO LOAN service, stated.
About CEX.IO LOAN
CEX.IO LOAN is a part of the CEX.IO Group. Founded in 2013, CEX.IO operates one of the largest international exchanges of the cryptocurrency market, which has been featured among Crypto Compare’s ten best exchange services. With offices in the UK, USA, Ukraine, Cyprus, and Gibraltar, CEX.IO serves over 3 million customers worldwide. From entry-level users to professional traders, as well as institutions and businesses, CEX.IO suits the needs of various crypto market participants with a reliable, high-security digital asset service.
Blue Ridge Bank has announced that for the first time in U.S. history a commercial bank is providing access to Bitcoin at its branch locations. Cardholders can purchase and redeem Bitcoin at 19 Blue Ridge Bank ATM locations, consisting of both branch and off-site ATMs.
“Blue Ridge Bank is excited to continue its evolution to serve the growing needs of our current and future customers,” said Brian K. Plum, Chief Executive Officer of Blue Ridge Bankshares, Inc. (NYSE American: BRBS), the parent company of Blue Ridge Bank. “The ATMs remain able to serve cash-based and inquiry activity, so this is simply layering on more services and reinforces our commitment to the future of banking for all customers.”
BluePoint ATM Solutions CEO Wade Zirkle commented, “We are proud to partner with Blue Ridge Bank and LibertyX to provide ATM management services that are Bitcoin-capable. We predict that more community banks and credit unions will demand innovative fintech solutions like this at their branches, and we are excited to be a leader in this space.”
“We’re honored to work with Blue Ridge Bank and BluePoint. For years, consumers have been asking for the ability to buy bitcoin from their banks. We are proud that BRB is the first bank in the nation to offer bitcoin services on their ATMs,” said Chris Yim, LibertyX Co-Founder & CEO. “LibertyX provides consumers with the trust and ease of going to 8,500 ATMs at local convenience stores, pharmacies, and gas stations. Now they can also buy bitcoin at their local bank ATM.”
Blue Ridge Bank, N.A., is the wholly-owned banking subsidiary of Blue Ridge Bankshares, Inc. Through its subsidiaries and affiliates, Blue Ridge Bank provides a wide range of financial services including retail and commercial banking, payroll, insurance, card payments, wholesale and retail mortgage lending, and government-guaranteed lending. The bank provides commercial banking services to customers located throughout Virginia and North Carolina.
BluePoint ATM Solutions is one of the largest privately-held ATM management companies in the U.S., with offices in Virginia and Colorado. BluePoint ATM Solutions specializes in providing efficient, outsourced ATM services to Community Banks and Credit Unions across the U.S. and providing customized ATM services to the retail and hospitality industries.
In 2020, TruckPay introduced the first multi-currency, multi-lingual, and multi-metric fleet management logistics platform to serve the needs of the aggregates, asphalt, scrap metal, recycling, demolition, agricultural, and landfill industries. TruckPay has now announced that cryptocurrencies, such as Bitcoin, Ethereum, and Stellar Lumens will be able to be used to facilitate payments on both its TruckPay Fleet Management and MyTruckScales platforms.
Truck Pay’s CEO and President, Barry Honig said, “Given the growing acceptance of cryptocurrency, with companies like Tesla preparing to accept Bitcoin as payment, we feel that it is time to allow users of our platforms to pay their subcontractors and independent owner-operators in a variety of cryptocurrencies, if they so choose.” Benjamin Honig, TruckPay’s CTO said, “I’ve been active in the crypto industry for the last 4 years and over that time, I have developed a deep knowledge of the space. I appreciate how cryptocurrencies can be used to help serve some of our underbanked drivers and contractor companies, especially ones in places like Latin-America and Africa, that have unstable fiat currencies.” Benjamin went on to say, “I have also established an extensive network of resources in the crypto software development space that will allow TruckPay to not only initially allow crypto payments on the platform, but will also, eventually, allow us to offer other related value-added services. Barry Honig concluded by saying, “By offering our customers cryptocurrencies as an additional payment method, combined with our multi-lingual and multi-metric features, we will be able to fully realize TruckPay’s goal of making our products accessible to any job creating company, subcontractor, driver, and truck scale owner anywhere in the world.”
TruckPay provides highly secure, mobile and cloud-based, paperless, enterprise truck fleet and scale management platforms. The powerhouse father-son team and company co-founders are Barry and Benjamin Honig. Barry is blind and brings many years of technology and business experience, eliminating paper tickets from trading in the financial services industry to automating logistics. Barry’s son, Benjamin, is a two-time Apple WWDC Scholarship winner. Benjamin has a remarkable talent for creating very user-friendly apps.
VBit Technologies, one of the only U.S.-based companies developing and hosting Bitcoin mining operations, based out of Philadelphia is expanding its mining business into Montana. Known as the “Known Technology Frontier”, Montana provides access to cheap electricity plus cooler conditions making it an ideal place to turn dormant manufacturing plants into server farms to mine Bitcoin. Yesterday, CEO of Tesla, Elon Musk, announced that it had bought $1.5 billion worth of Bitcoin, and would start accepting Bitcoin as a payment method for its products. Some are crediting Musk with raising the price of cryptocurrencies. As of today, Bitcoin has broken another all-time high at $48,200 per Coinable price index, so as the market is growing, Bitcoin mining is too.
VBit already has existing mining locations in Calgary and Colorado and is expanding into Montana while actively looking for new locations in Western Pennsylvania as well. Montana with its inexpensive and vast amounts of hydroelectric power and large vacant facilities that have their own power substations and is a prime location for expansion to mine Bitcoin. VBit will deploy its new mining hardware in a data center that is 100% powered by hydroelectricity.
According to bitcoinenergyconsumption.com, the total power consumption of Bitcoin mining in 2020 is estimated at 77.8 TWh per year which is the equivalent of the entire country of Chile. A single mining transaction uses 686.5 kWh which equates to 23.3 days of power for an average US household (Bitcoin Energy Consumption Index – Digiconomist). This amount of power generation is estimated to add over 36.9 metric tonnes of carbon dioxide to the atmosphere which is the same as New Zealand in a year.
Don Vo, CEO and founder of VBit Technologies, said, “Crypto as an industry has now come of age, and is now firmly in the mainstream – it is here to stay, and so is VBit Technologies. From an environmental standpoint, it’s therefore important for Bitcoin mining to move to a more eco-friendly energy source that not only reduces the cost of electricity consumption but also generates it from renewable sources making it environmentally friendly. In addition, VBit is exploring new liquid immersion cooling technology that will allow for a more reliable mining environment with less failure. If there’s an hour of downtime from a failure, it means we’re losing money, so we need to keep the equipment optimized for profitability and customer satisfaction.”
VBit Technologies has a brand called VBit Mining that provides Bitcoin mining services to thousands of people worldwide, and is on its way to becoming one of the largest Bitcoin mining operations in the world.
The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers’ other, more traditional holdings—from Treasurys to technology stocks—using a platform that is now in prototype. The bank is already discussing plans with clients to bring their digital currencies into the fold.
It was announced within the past 24 hours that Tesla has used $1.5 Billion of its “cash that is not required to maintain adequate operating liquidity” to buy Bitcoin. The company stated it had done so in order to “maximize returns on our cash,” as stated in the company’s most recent 10-K filing with the SEC. The filing revealed that in addition to the massive purchase of Bitcoin, the company also expects to start accepting Bitcoin as payment for its automobiles “in the near future.”
We observe that Elon is guilty of “talking his book.”
What is “talking your book?”
An decade-plus old article from Abnormal Returns, titled “Everybody talks their book, everybody” explains it this way:
Talking your book is a phrase used to describe what portfolio managers are doing when they discuss their portfolio holdings. It is generally assumed that this discussion is to create interest (and buyers) of these securities.
This will ultimately benefit the price of the security and the manager’s portfolio. The more cynical out there might see any sort of stock rise as an opportunity to exit a position as well.
Even that might be too simple an explanation. A manager might take the opposite tack an bad mouth a position hoping for a drop in price to allow further accumulation.
To summarize and simplify the above quote, “talking your book” basically means that a money manager will talk glowingly about an asset he wants to sell (in order to get the highest price possible), and conversely will talk negatively about an asset he is in the process of buying (in order to drive the price down to provide a better entry price).
Did Elon do that?
It certainly seems that way to us. Have a look at his tweet from December 20, 2020:
Bitcoin is BS?
Yes, so says Elon when he is trying to buy.
And after his purchase is complete, then he adds Bitcoin to his twitter profile, his car company announces it has bought a gigantic amount of Bitcoin, and will be taking the cryptocurrency as payment for its autos in the near future.
It seems Bitcoin is only BS to the wealthy when they’re trying to buy it.
“As institutional demand for transparent, exchange-listed crypto derivatives continues to increase, we are pleased to launch our new Ether futures contract,” said Tim McCourt, CME Group Global Head of Equity Index and Alternative Investment Products. “The addition of Ether, along with our liquid Bitcoin futures and options, will create new opportunities for a broad array of clients, whether they are looking to hedge ether positions in the spot market or gain exposure to this cryptocurrency on a regulated derivatives marketplace.”
“Just like in other capital markets, derivatives have become the avenue of choice for institutions to access cryptocurrencies,” said Sui Chung, CEO of CF Benchmarks. “Our status as a U.K. FCA regulated benchmark provider, whose compliance is regularly audited by Deloitte, gives institutions further confidence to enter the cryptocurrency space via the CME Ether futures contact based on our CME CF Ether-Dollar Reference Rate. For the first time, investors can gain exposure to the second-largest cryptocurrency by market cap via a U.S.-regulated futures contract. Just as Bitcoin futures paved the way for institutions to enter the crypto market in 2017, so CME Ether futures will allow CME Group clients to gain even greater exposure to the asset class.”
“CME Group has been an integral participant in the continued institutionalization of this asset class, and the launch of Ether futures is yet another milestone,” said Michael Moro, CEO of Genesis Global Trading Inc. “Genesis is excited to continue to work closely with CME in this effort.”
“The launch of CME Ether futures is an exciting addition to the digital assets ecosystem as it evidences the ongoing maturation of the asset class as a whole,” said Michael Sonnenshein, CEO of Grayscale Investments. “At Grayscale Investments, we’ve seen enormous growth in investor interest for Ethereum and we’re excited to see the growing list of financial product offerings expanding access to digital currencies.”
CME Ether futures are cash-settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the U.S. dollar price of Ether. Ether futures are listed on and subject to the rules of CME.
As the world’s leading and most diverse derivatives marketplace, CME Group enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The company offers futures and options on futures trading through the CME Globex® platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform. In addition, it operates one of the world’s leading central counterparty clearing providers, CME Clearing. With a range of pre- and post-trade products and services underpinning the entire lifecycle of a trade, CME Group also offers optimization and reconciliation services through TriOptima, and trade processing services through Traiana.
The World Economic Forum has recently released a report that suggests cryptocurrencies have a very prosperous future. The report, titled “Crypto, What Is It Good For? An Overview of Cryptocurrency Use Cases,” is rabidly optimistic about the future role of cryptocurrencies in the world’s economic and financial systems.
Here are some various quotes from the report:
Over a decade ago, a white paper by Satoshi Nakamoto was distributed to a cryptography mailing list outlining a novel proposal for a “peer-to-peer electronic cash system” called bitcoin. This innovation spurred a new, global industry and asset class that has created hundreds of billions of dollars in value, and inspired a generation of entrepreneurs and innovators.From the foreword
Another pro-crypto statement:
The World Economic Forum Global Future Council on Cryptocurrencies represents a broad cross-section of experts working to make cryptocurrencies useful across a wide range of use cases.From the foreword
And one more:
Cryptocurrencies have reached a point of inevitability. We have dedicated our careers to advancing the adoption and use of cryptocurrencies because we believe they represent an enormous opportunity to grow the global digital economy and benefit consumers and businesses across the world.From the foreword
When on reads the report, it becomes very clear that the World Economic Forum clearly believes that cryptocurrency will permeate all economic and financial transactions globally.
These specific cryptocurrencies each have a dedicated segment in the report: Bitcoin, Ethereum, Ripple, Tezos, Celo, Litecoin, Zcash, Filecoin, and Arweave. These second layer protocols also have their own segments in the report: Bancor, Lightning, Compound Protocol, Uniswap, Etherisc, and OMG Network.
This report is more evidence that the world is heading towards mass adoption of blockchain.
We pointed out how closely 2021 price behavior is following 2017 price behavior:
This year, Bitcoin reached its high on January 8, only 3 days later than it did in 2017.
In 2017, the previous 4th year of the Bitcoin cycle (2021 is also a 4th year of the Bitcoin cycle), Bitcoin made an intermediate high on January 5 and an intermediate low on January 25.
This year, Bitcoin made an intermediate high on January 8, and made an intermediate low on January 28 – again, exactly 3 days later than it did in 2017.
The timing of these swing lows and highs is remarkable.
Using this data, we predict that February will not see a new all time high for the price of Bitcoin.
If the pattern continues to follow 2017 this precisely (at some point it will diverge, markets don’t repeat so precisely for extended periods of time), the new all time high for Bitcoin will not arrive in February, as the pattern in 2017 saw Bitcoin top its early January high on February 28th of that year.
Comparing 2021 to 2017, the cycle has been experiencing a 3 day delay, which would suggest a new all time high for Bitcoin will not be reached this year until March 3.
Of course, this forecast is not guaranteed. Highly charged positive crypto news events could cause Bitcoin to surge to new highs sooner, while the unexpected appearance of negative Bitcoin news sphere could delay the timing of a new all time high for Bitcoin.
We are quite certain, however, that a new all time high for Bitcoin is only a matter of time.
Created by experienced automotive professionals, Carnomaly harnesses the limitless potential of the blockchain and cryptocurrency to provide innovative solutions for some of the most pressing problems in today’s automotive industry. Carnomaly can solve numerous industry inefficiencies, such as undervalued trades, high-interest rates, overpaying for vehicles, a confusing purchase process, and inaccurate vehicle histories with its fleet of technology solutions: the CARR token, CarrChain, and CarrDefi.
To fund its development and the global reward program, Carnomaly created CARR tokens. The Ethereum network hosts the token exclusively through its ERC-20 smart contract. Utilizing only the Ethereum network makes it simple to analyze how many tokens each member holds and the membership level each member has achieved.
CarrChain is a web-based application through which vehicle owners can easily manage and update their vehicle’s online profile. The better updated an owner keeps their vehicle’s profile, the more points they can earn towards the car’s reputation score. When the time comes to sell the car, this gives a competitive edge to the seller.
Essential Benefits of CarrChain:
- Achieve real-time vehicle sales by eliminating lengthy title transfers
- Replace confusing, incomplete vehicle maintenance paper records
- Notify dealers and private buyers of possible weather damage to a vehicle through the Natural Disaster Bulletin
- Provide complete historical records for the dealer when it’s time to sell
- Increase the value of the car
- Discover service gaps in maintenance to improve the lifetime performance of the vehicle
CarrDefi is a crypto-powered solution from Carnomaly to eliminate outdated and inflexible auto lending. It utilizes a decentralized blockchain system where loans and assets can be purchased or sold without a bank. Carnomaly members can use CarrDefi to securely connect with borrowers and lenders through loan pools created by Carnomaly’s financial experts.
Carnomaly will offer 250,000,000 CARR tokens in three separate IEOs, the first of which launched on Jan.26. To ensure stability for token holders, Carnomaly is dedicated to listing on some of the top exchanges with the highest liquidity. Once the final IEO sale has concluded, Carnomaly will lock company funds for 90 days.
Carnomaly is the future of the automotive industry. Their fleet of tech solutions will bring digital innovation to the automotive industry through the power of blockchain technology. CarrChain, CarrDefi, and the Carnomaly marketplace will change the way we buy, sell, shop, report, and finance new or used vehicles.
Several of our news articles this year – as well as several from last year – included details regarding the 4 year cycle in cryptocurrency prices. The editors at Top5Cryptos are strongly of the opinion that the entire cryptocurrency market is correlating to the previous 4 year cycle patterns in excess of 90%.
Our cryptocurrency price predictions for 2021 are base upon the correlation to the 4 year cycle, among other specific factors.
Using this year cycle pattern, we are going to predict the general price action of the crypto market for the months of February and March.
First, though, we will look at the crypto price behavior during the previous 4 year cycle top of 2017.
Bitcoin Price Performance In Early 2017
Bitcoin started the first day of 2017 at $1,003. It rose rapidly, gaining nearly 19% by January 5th.
Bitcoin then fell by 24% to reach a low on January 25.
From that date, Bitcoin basically bounced up and down in price without going much in either direction. Prices were choppy from January 25 until February 16.
From February 16 to February 24, Bitcoin had a sustained upward movement in price, reaching the same price that it had attained on January 5 of that year.
From February 24 until March 1, the price of Bitcoin remained near the high of January 5. However, on March 2, Bitcoin broke out above the high of January 5, rising about 8% above the peak price attained in early January.
Bitcoin then suffered a 20% correction into a low on March 19.
Bitcoin then again experienced choppy sideways price action until March 30.
April was the month that the climb in the Bitcoin price really kicked into high gear and Bitcoin left for good the trading range it had been in the first 3 months of the year.
Here is what the Bitcoin chart looked like for the above described time period in 2017:
Using this price behavior taken from the previous 4 year cycle time frame, we are going to compare it to the price behavior of Bitcoin this year.
This year, Bitcoin reached its high on January 8, only 3 days later than it did in 2017.
Since then it has been following the same type of price action that transpired in 2017.
We have no reason to believe that the price of Bitcoin will stray much from its previous price behavior.
Our Bitcoin Forecast For February and March
Using the data above, the price of Bitcoin should get back to the $42,000 range around February 23 – 26.
From there, it should make a new all time high around $45,000 to $47,000 the first week of March.
After reaching a new all time high in early march, Bitcoin will likely fall to the range of $30,000 around the 3rd week in March.
The the fun REALLY begins for crypto bulls.
Of course, we are not lawyers, and this is not legal advice. As always, consult a legal professional for all legal matters and advice.
That being said, the changes to the Bittrex Terms of Service wording has us quite concerned. Here is a quote from the Terms of Service, Version 4, amended 1/21/2021:
RISK DISCLOSURE: BY ACCESSING OR USING ANY BITTREX SERVICES YOU ARE VOLUNTARILY CHOOSING TO ENGAGE IN SOPHISTICATED AND RISKY FINANCIAL TRANSACTIONS. YOU ARE FURTHER ACKNOWLEDGING THAT YOU ARE AWARE OF THE MANY RISKS ASSOCIATED WITH THE USE OF THESE SERVICES AND WITH ENGAGING IN TRANSACTIONS IN CRYPTOCURRENCIES, INCLUDING BUT NOT LIMITED TO, RISKS OF FINANCIAL LOSS, TECHNOLOGY GLITCHES (INCLUDING BUT NOT LIMITED TO PROBLEMS WITH THE BLOCKCHAIN TECHNOLOGY), AND HACKING. BITTREX WORKS HARD TO PROVIDE STATE-OF-THE-ART SYSTEMS AND SECURITY. NONETHELESS, CERTAIN ISSUES AND RISKS ARE UNAVOIDABLE, AND IF SUCH ISSUES OR PROBLEMS ARISE IN CONNECTION WITH YOUR USE OF BITTREX’S SERVICES, INCLUDING TECHNICAL DIFFICULTIES WITH DEPOSITING OR TRADING CRYPTOCURRENCIES, IT MAY TAKE DAYS, WEEKS, OR MONTHS TO RESOLVE, AND SOME ISSUES MAY NOT BE RESOLVED AT ALL. BY AGREEING TO THESE TERMS, YOU ACKNOWLEDGE THAT BITTREX IS NOT RESPONSIBLE FOR THE AFOREMENTIONED RISKS, AND YOU VOLUNTARILY ASSUME AND ACCEPT SUCH RISKS IN DECIDING TO ENGAGE IN CRYPTOCURRENCY TRANSACTIONS ON THE BITTREX PLATFORM.
Sometimes legal wording/disclaimers can be extra wordy and confusing. Often, this is done on purpose.
This updated terms of service can be broken down into 3 parts:
- There are risks in cryptocurrency transactions.
- Bittrex has told you about the risks.
- If you continue to use Bittrex knowing these risks, the responsibility for these risks are yours and not Bittrex.
While those 3 points seem sensible and realistic at first glance, but, as the saying goes, the devil is in the details.
Let us quote directly from the above language, only we will take out much of the wordage – without changing any of it – just to make a point:
YOU ARE AWARE OF THE MANY RISKS ASSOCIATED WITH THE USE OF THESE SERVICES… INCLUDING …. HACKING. IT MAY TAKE DAYS, WEEKS, OR MONTHS TO RESOLVE, AND SOME ISSUES MAY NOT BE RESOLVED AT ALL. BY AGREEING TO THESE TERMS, YOU ACKNOWLEDGE THAT BITTREX IS NOT RESPONSIBLE FOR THE AFOREMENTIONED RISKS, AND YOU VOLUNTARILY ASSUME AND ACCEPT SUCH RISKS.
Again, we’re not lawyers and this is NOT legal advice. As non-lawyers, we read the above statement and conclude that Bittrex is telling you that if they get hacked, the losses “MAY NOT BE RESOLVED AT ALL,” and that “BITTREX IS NOT RESPONSIBLE,” and finally, you “ASSUME AND ACCEPT SUCH RISKS.”
If our understanding is correct, that means that if Bittrex loses any of your money in any type of “hacking,” you’re out and you cannot hold Bittrex accountable for the losses.
Would you deposit into a bank if the bank’s legal disclaimer told you that if the bank gets robbed, you’re money is gone and you cannot hold the bank responsible?
That sounds exceptionally risky.
Leading Estonian high-tech cryptocurrency exchange service, NordikCoin, is announcing that it will start accepting customers from Asian markets. The company will first begin accepting customers in selected jurisdictions, while further expansion is expected to continue in 2021. Whilst expanding its global reach, the company itself and its day-to-day operations will continue to be domiciled in global cryptocurrency haven Tallinn, Estonia.
Bitcoin on the rise
Bitcoin has been in the limelight for over a decade now, rapidly expanding its scope of applications, and continuously rising in value. On January 8th 2021, Bitcoin hit a new milestone by surpassing $42,000 in value, proving that its popularity is steadily increasing.
To support the rise in demand, Estonian cryptocurrency exchange NordikCoin will apply its European KYC and AML rules to customers from new Asian jurisdictions, with the main focus on security and compliance. NordikCoin’s AML/KYC policy stands for Anti-Money Laundering and Know Your Customer and was designed to prevent and mitigate possible risks of money laundering and terrorism financing.
NordikCoin aims to be one of the fastest and most hassle-free ways of buying Bitcoin. The exchange supports all major credit cards, whilst crypto wallets are provided free of charge to its customers. Due to the innovative use of electronic ID solutions, users from supported jurisdictions can set up their accounts in under five minutes – after which they can start trading Bitcoin immediately. The company is known for bringing innovation into the cryptocurrency space, being one of the first Bitcoin exchanges with Lightning Network protocol support.
Inevitably, one of NordikCoin’s main priorities has been to follow all the latest cybersecurity standards and best practices, ensuring that the cryptocurrency exchange environment is safe and reliable for all users across the globe. This is, in part, due to the fact that the team behind NordikCoin is comprised of experienced lawyers, auditors and technologists from around the world.
Japan next for rapid expansion
One jurisdiction which is being considered for NordikCoin’s Asian expansion is Japan. The country has witnessed a notable surge in Bitcoin holdings by 11%, suggesting that it’s the perfect launchpad. Several crypto exchanges are already present and thriving in the Japanese market, regardless of current COVID-19 restrictions and difficulties. Key exchanges include Okcoin, Bitflyer, Bitbank and Btcbox, among others.
David De Marco, CEO of Omni Matrix Ltd, the parent company of NordikCoin.com, shares his excitement for the Asian expansion plans:
– Our expansion into the Asian market marks a unique opportunity for the company to present its innovative cryptocurrency trading services globally. We are thrilled to announce that we will be expanding our customer onboarding processes to facilitate clients from Asian markets. We are confident that this is the perfect stepping stone for the new era of cryptocurrency exchange with NordikCoin leading the way.
Asia has been dominating the cryptocurrency market in the past couple of years, with financial giant SBI taking a lead. The company made a series of crypto moves recently including a planned 2022 launch of a digital exchange with Switzerland’s SIX, a partnership with Ripple and, most recently, the acquisition of U.K.-based cryptocurrency trading firm B2C2. Asia has been found to adopt blockchain technology much faster than many Western countries, incorporating innovations quickly and efficiently. NordikCoin’s expansion plans seem to be a great way for Europe and Asia to join forces and increase efforts of pushing Bitcoin and cryptocurrency into the limelight.
Prime Trust, the leading provider of all-in-one, financial infrastructure for fintech innovators today reported 2020 numbers, with strong growth across crypto, crowdfunding and BaaS markets. It further detailed the fintech roadmap priorities for the year ahead. Additionally, Prime Trust celebrated its year-end with continued team expansion – hiring more than 100 new members in 2020; despite the challenges of the pandemic.
Prime Trust executives attribute the company’s growth to the acceleration of alt-banking and the next-generation of alternative trading systems. Additional highlights from the year include:
- Crypto – $12 billion in settlements and more than 3.4 million counterparty transactions
- Crowdfunding – more than $650 million invested, with 460,000 transactions in 648 offerings
- Financial Infrastructure – more than 140 API customers, $22 billion funds processed and 600,000 AML checks
“What a year! Despite a lot of uncertainty caused by COVID-19, I am in awe of our team and how they persevered as business accelerated beyond our wildest expectations,” said Scott Purcell, CEO of Prime Trust. “We moved quickly to develop technology and add exceptional team members with expertise across regulation, banking, business and tech to service our API customers.”
Prime Trust will continue full steam ahead for 2021, with a host of priorities and initiatives across the board from enhancing bank crypto services to securing impactful certifications. The company will continue to thrive in the new year as the all-in-one, financial infrastructure for quick, easy, and reliable deployment to help fintech innovators launch in a customizable way.
“It’s a really exciting time to be in fintech, and a fantastic time to provide financial infrastructure to a huge variety of innovators,” Purcell said. “Our customers are doing incredible things with our technology and 2021 is going to be an amazing year of innovation and disruption – I can’t wait.”
Prime Trust is the leading provider of all-in-one, financial infrastructure for fintech innovators. Their proprietary Universal Asset Platform, Prime Core, is a modular platform that allows fintech startups and established financial institutions to scale and enter new markets, quickly and simply. The firm powers mobile financial apps, crypto exchanges, securities exchanges, OTC desks, portals, platforms, brokers, investment advisors, exchanges, real-estate syndicators, and others with smart API solutions to create world-class financial services at scale. Services provided by Prime Trust include institutional and retail account types including custodial, IRA, trust, and escrow, coupled with funds processing, AML and KYC compliance, asset custody, counterparty settlement systems, transaction technology and tax reporting.
LiteLink Technologies Inc. (OTC: LLNKF), a company focused in emerging technologies across growth sectors including: cryptocurrencies, blockchain, AI and cloud technologies, has announced that it has signed a Letter of Intent to complete an equity investment in CatalX Exchange Inc. (“CatalX”), Canada’s premier cryptocurrency exchange with over 40+ Altcoins available for purchase on CatalX.io.
CatalX is a Canadian-based FINTRAC registered and compliant digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. CatalX has developed a scalable and modularized platform with a trading engine that can scale to millions of users in real time and cutting-edge cyber security system CyberSmoat®, which is patent pending.
Features of the CatalX platform include:
- Fully featured exchange order book
- $0 deposit fees and immediate funding (post-KYC)
- 0.15% trading fees
- Tightest buy and sell spreads in Canada under 0.1%
- Lowest rates to buy BTC in Canada
The proposed equity investment will be satisfied through the issuance of 37,500,000 common shares of LiteLink to CatalX and a cash payment to CatalX of C$500,000, and would result in LiteLink having ownership and control over 19% of the outstanding share capital of CatalX. In conjunction with closing of the investment, LiteLink will also pay a finder’s fee to an arm’s length party of 1,875,000 common shares of LiteLink. All securities issued in connection with the investment in CatalX will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities law.
“We are very excited to make this investment into CatalX, Canada’s leading cryptocurrency exchange, and gaining a stake in the expanding cryptocurrency market,” said LiteLink CEO Peter Green. “CatalX has had an outstanding year and continues to grow. In January 2021 alone, the company experienced 80% growth in new registrations quarter-over-quarter and has already clocked in $1.05 million in deposits in the first 21 days of January.
“In the last five days, CatalX has seen $525,000 in deposits, signaling big things to come moving forward as more and more businesses and investors turn their attention towards the crypto market.”
“CatalX has also experienced significant growth in its trading volumes, with average monthly volume hitting $1.37 million in December 2020. In the first 3.5 weeks of January, the trading volume was sitting at $2.85 million and is projected to reach $5 million for January, a 590% increase from its October/November average of $725,000. In the last five days alone, the trading volume was $1.36 million. In short, this company is growing very quickly.
“It isn’t surprising when you look at the growth of the overall market. Bitcoin just closed out one of the biggest years in its history and is expected to continue rallying in 2021 thanks to a surge of new developments coming into the crypto space this year, including the launch of Facebook’s bitcoin-inspired cryptocurrency and the US cryptocurrency regulations.
“Despite recent price volatility, Bitcoin is still up over 290% in the last year and is expected to stay elevated thanks to growing adoption of crypto among payment giants like PayPal and Square and rising interest among institutional investors.
“At the same time, the world’s second-largest cryptocurrency Ethereum has skyrocketed 300% over the last 12 months amid a flurry of interest in decentralized finance (DeFi)—using crypto technology to recreate traditional financial instruments such as loans and insurance with many DeFi projects built on top of the Ethereum network.
“Cryptocurrency is clearly here to stay, so we are very excited about building a strong relationship with Canada’s leading cryptocurrency exchange.”
The Company is at arms-length from CatalX. Completion of the investment in CatalX is subject to a number of conditions, including, but not limited to, completion of due diligence, negotiation of definitive documentation and the receipt of any required regulatory approvals. The proposed investment is not expected to constitute a fundamental change for the Company, nor is it expected to result in a change of control of the Company, within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.
LiteLink would also like to announce that it has engaged North Equities to provide and manage a comprehensive six-month digital media marketing campaign for the Company for a total cost of $100,000. The Company has also engaged Djordje Kovic for a digital media and marketing campaign for four months for a total cost of $45,000.
LiteLink Technologies Inc. is a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.
CatalX.io is a Canadian-based is a digital asset exchange platform that specializes in cryptocurrency trading, blockchain and cybersecurity technology. As a fully regulated Cryptocurrency exchange with FINTRAC, CatalX has the highest standards in security and compliance and is partnered with world-trusted names in Blockchain technologies, risk management and financial solutions including Bittrex, Prime Trust, Trulioo and Stably to provide their users with a trusted, secure platform.
It’s January and today we’re adding our EOS price prediction to the list of coins that we’ve already made a 2021 forecast for. Later on down the page we’ll explain more about EOS and our reasons for being so bullish on it, but you’re here for the price prediction and we’ll jump right to it.
As always, we like to review price forecasts made by others in the crypto industry before we provide our own. This gives you a reference for easy comparison.
Diverse EOS Price Forecasts For 2021
Capital.com shares these EOS price predictions:
According to TradingBeasts, the EOS price in December 2020 will reach a maximum of $3.4, after which the forecasting service expects it to drop back down to $2.7, on average.
In January 2021, its EOS crypto price prediction shows the coin remaining near this level, at around $2.7, later expecting it to experience a slow but steady rise throughout the year, with the coin having the potential to hit a high of $3.9 next December. The average price of EOS is predicted to reach $4.07 in December 2022, and then $5.03 in December 2023.
Wallet Investor also expects the currency’s price to rise in early 2021, although their EOS coin forecast says that the asset will see a price crash in the second half of the year. The event will potentially lead EOS down to $1.2 one year from now.
As for CryptoGround, they have a very bullish EOS prediction. In fact, their EOS forecast claims that the coin will simply keep climbing, with its value reaching $4.17 in six months, $4.7 in one year, and $21.4 by December 2025.
EOS doesn’t have much price history to analyze for repeating patterns, however, the symmetrical triangle the asset has been trading within for its entire lifecycle was preceded by a powerful rise.
After a breakout of resistance and signaling the end of the bear market, EOS could experience another extremely powerful burst upward, returning to prices near $15 per EOS in 2021 or 2022.
Coinfan sees EOS reacing $47 in December of this year, after a string of months with constant gains.
Algorithm at Tradingbeasts.com has a much more conservative approach to EOS price, putting it at $7 at the end of the year which still represents more than double of its current price.
EOS will be levitating around $4.70 according to the Cryptoground algorithm.
Lastly, Trading-education.com chimes in with these two EOS price predictions for 2021:
EOS price forecast for 2021
What are crypto experts forecasting for EOS in 2021?
Now that we’ve explained a bit more about EOS, let’s look forward to 2021 and see what some of the top crypto analysts believe could happen to EOS price. According to DigitalCoinPrice, the outlook for EOS is promising:
As we can see from this chart, DigitalCoinPrice has forecast that the price of EOS will increase before the end of 2020. Its January 2021 predictions place the price at $6.07, which is more than double its current price of $2.64. The platform believes that the price will then rise to $7.49 in February before slipping down to its lowest point of 2021 in April when it could be worth just $5.47. However, this dip won’t last long. For the rest of the year, DigitalCoinPrice predicts that EOS will swing between $6.20 and $7.39, ending the year on a brief bullish trend.
If you’re wondering ‘is EOS a good investment?’, this outlook is reasonably optimistic. It shows that the price of EOS will go up from 2020, but that its progress won’t be linear throughout the year. Those who like to make short-term trades could see the chart above as an opportunity to cash in on short-term fluctuations — for example, by selling in March, buying in April, and selling again in June.
Let’s move on to the platform WalletInvestor to see whether its predictions align with those given by DigitalCoinPrice. We can see its forecasts represented in this graph:
At the start of the year, the pattern we can see on WalletInvestor’s graph is not unlike that on the graph from DigitalCoinPrice. Both feature a sharp rise at the start of the year followed by a dip around May, before climbing up again in June. They even give very similar values for its yearly ATH, suggesting that EOS will start to approach prices of just under $8.
The key difference between these predictions is evident in the second half of the year. Whereas DigitalCoinPrice believes that the price of EOS will ultimately close 2021 on an upwards trend, WalletInvestor foresees a very pessimistic bearish run, with its price crashing down to below $1. This is undoubtedly bad news for any investors wondering ‘will EOS go up?’.
These EOS end of the year price forecasts range from about $1 to $47. That’s quite a range!
Our 2021 EOS Price Prediction
We’ve been repeating ourselves somewhat, but it needs to be said again: there is a 4-year price cycle in cryptocurrencies. This cycle is most likely – or at least partially – caused by the Bitcoin halving cycle, which itself is a four year cycle.
To date, no major studies have examined this cycle in detail.
This cycle has existed the entire life of the cryptocurrency market. While it certainly could disappear, we see no reason for this cycle to suddenly vanish.
This 4 year cycle, which has existed in the cryptocurrency market since day one, suggests that 2021 is going to be another roaring year for crypto prices.
Previous 4 Year Cycle Tops
The previous two topping patterns of the 4 year cycle were 2013 and 2017. The next cycle peak is due around Christmas time in 2021.
Bitcoin has been through two complete 4 year cycles. EOS was released in January of 2018, and thus we don’t have any previous cycle price patterns for reference. Price history only goes back to mid January of that year.
What Multiple For EOS?
We are predicting bitcoin to go up in price by a factor of 15.4 times to reach its high at the end of this year.
We are predicting Stellar Lumens to go up in price by a factor of 20 to 74 times to reach its high at the end of this year.
We are predicting Ethereum to go up in price by a factor of 18 to 34 times to reach its high at the end of this year.
EOS started 2021 at a price of $2.64 on January 1.
EOS 30x This Year
We believe that the price performance of EOS this year will mirror that of XLM and ETH. As such, we are going to use a multiplier of 30x.
Using this multiplier, we predict a price high for EOS at the end of this year to be $79.20.
Our EOS 2021 Price Prediction: $79.20
That’s our EOS prediction. While it may seem unreasonably high, let us remind you that at that price the total Market Cap of EOS would only be about $79 billion. As of press time, Ethereum has a total market cap of $150 billion. We believe it is reasonable to forecast EOS could reach this size of a market cap.
An Introduction to EOS For Newbies
EOS is actually the indigenous cryptocurrency underpinning the EOS.IO blockchain protocol. EOS.IO is actually an intelligent contract platform for decentralized applications and protocol designed as an enterprise solution for scaling computer resources, emulating computer processing hardware, storage, and other things. EOS was developed, including several high cryptocurrency projects, to resolve the speed, flexibility, and high fees and scalability issues in both Ethereum and Bitcoin.
EOS is actually based on a white paper released in 2017, created by the Dan Larimer and Brendan Blumer lead Block.One. The EOS first coin offering launched in June 2017 and concluded in the following June in 2018. The ICO broke records for probably the largest length of capital raised in an ICO, pulling in more than $4.197 billion.
EOS is actually a blockchain based decentralized platform which allows the development, hosting, and also execution of decentralized applications (dApps). It’s existed for many years, and also like some other crypto project which focuses on development, rather compared to payments – it was influenced by Ethereum.
Nevertheless, EOS has an objective of being better, faster, more scalable and providing greater plus more complex services, making it Ethereum’s rival.
The project started the ICO of its back on June twenty six, 2017, and it ran until June one, 2018. Before, it was probably the longest ICO of all the time, as well as among probably the most successful. After the year long ICO was concluded, EOS emerged with the raised $4.1bn, which quickly attracted attention to the venture.
Like the majority of ICO projects, EOS was launched on Ethereum’s network, from which it later migrated upon creating its own blockchain of late. Sad to say, the project faced quite a great deal of problems if the time for the mainnet launch of its had arrived, receiving a large amount of criticism. After delays, the mainnet finally discovered the launch in mid June, just to purchase frozen 2 days later.
Nevertheless, despite the rocky start, EOS ultimately managed to pull itself collectively, launching rather a skilled blockchain.
EOS is actually among the more debatable crypto tokens across the crypto sector, but due to the disruptive technology of its might have among probably the largest long term profit potential. The blockchain technology behind the EOS.IO protocol has the potential to substantially alter the future of computer resources and applications and improve upon a number of companies and industries. Because of the effective impact EOS might have, it is long term value might increase exponentially.
Using important analysis to forecast the long term view of the crypto asset, and providing complex analysis from specialists from across the industry, long-term price predictions are able to assist an investor decide whether EOS is actually a great investment decision.
Mercuryo offers seamless fiat-to-crypto payment gateway solutions to corporate and consumer clients. Since its launch, Mercuryo has been serving over 600,000 users and 180 crypto projects and prominent enterprises, becoming a leading digital asset payment gateway provider in Europe.
Mercuryo features two flagship solutions: a digital asset wallet and a widget service. While the wallet provides access to seamless crypto-to-fiat and fiat-to-crypto transactions, businesses can integrate the widget directly into their apps or websites. With just a few clicks customers can purchase digital assets in their local currencies via Visa and Mastercard cards. The widget also supports Apple Pay and Google Pay services, so clients can buy cryptocurrency this way too.
“We are excited about entering the US market. We are observing an interest from this region – 41% of payments on our platform are made in US dollars. Our vision is to build a financial infrastructure that provides customers worldwide with easy and fast access to cryptocurrencies,” says Petr Kozyakov, Mercuryo’s CBDO and co-founder.
Mercuryo’s partner firm is a registered Money Service Business under the oversight of FinCEN and a licensed Money Transmitter in over 40 US states, allowing the company to offer regulated payments solutions for all its customers across the country.
“We are pleased that Mercuryo is leveraging the Zero Hash compliance and technology infrastructure to service US customers. We empower innovators such as Mercuryo who are building Finance 2.0 by providing a turnkey and totally customizable solution for transactions in a regulated ecosystem,” Edward Woodford, Zero Hash’s CEO, stated.
The company’s ecosystem has achieved significant growth last year. Its turnover went up 50 times, reaching $75.5M in Q4 2020. The number of employees has also doubled.
Founded in 2018, Mercuryo.io is a global cross-border payments network that allows businesses to send and receive transactions for products and services using cryptocurrencies. The firm operates a leading digital asset payment gateway in Europe and has partnerships with over 150 market makers.
Ibanera, a licensed global fintech company, today announced a partnership with Fireblocks, a leading enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets.
The Ibanera platform provides account issuance, cross-border transfers, and currency exchange services to both corporate and retail customers. Ibanera customers will now be able to leverage the Fireblocks Network to safely transfer cryptocurrency funds in real-time. Fireblocks’ technology uses multiparty computation (MPC) and patent-pending chip isolation technology (SGX) to protect users’ private keys, deposit addresses and API keys.
The rising adoption of cryptocurrency has led to demand for trusted digital wallet infrastructures that offer efficiencies in payments and managing assets. Fireblocks provides secure rails for funds to be easily transitioned from cold storage or any other storage solution. The platform currently supports twelve blockchain protocols and over 300 tokens.
“We are thrilled to have Ibanera join the Fireblocks Network,” said Michael Shaulov, CEO of Fireblocks. “Providing support for Ibanera gives us the opportunity to extend our secure MPC wallet services to an innovative, licensed provider that services a multitude of industries globally.”
“Fireblocks is a global leader in digital asset security. Our partnership provides another layer of protection for customers using various cryptocurrencies for cross-border payments and balance transfers,” said Bjorn Snorrason, General Manager of Ibanera.
Ibanera is a global fintech firm regulated in the United States, Canada, Europe and Singapore. As an innovative financial services platform, Ibanera provides businesses and individuals a seamless, user-friendly banking experience in a modern digital and global environment.
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing and issuing digital assets. Fireblocks enables exchanges, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through patent-pending SGX & MPC technology. They have secured the transfer of over $9 billion in digital assets and have a unique insurance policy that covers assets in storage & in transit.
The data encompasses results from November 2019 to January 2021 – making it the most comprehensive cryptocurrency study to date. Moreover, our data hits on topics that resonate with consumers, academia, and the private industry. The results shed light on a new narrative that has not been covered – one that reveals rampant disparity.
Here is a quick snapshot of what the industry-leading research reveals:
Cryptocurrency Criminal Activity: Just 0.34% of Crypto’s Transaction Volume was Used for Criminal Activity. This equates to roughly 10 billion dollars.
Male vs Female Bitcoin Awareness: According to another survey, 78% of male survey respondents reported being aware of Bitcoin, while only 71% of females were aware of this particular digital asset (18+ or Older).
The Top 100 Richest Wallet Addresses Hold 13.56% of Bitcoin’s Total Supply: It’s common for whales to spread their ownership over several addresses, so it’s unclear the number of individuals who control the top 100 richest wallet addresses.
You can read the complete study results here: https://simplemoneylyfe.com/cryptocurrency-statistics
Simplemoneylyfe.com is a leading financial website that covers the blockchain, financial, and credit industries.