A bullish case for Moons everyone seems to be missing

Ursprünglich erschienen auf: https://www.reddit.com/r/CryptoCurrency/comments/j2mblg/a_bullish_case_for_moons_everyone_seems_to_be/

I know that we had more than enough Moon posts in the past few days but none of them mentioned the innovation that comes with Moons. Just like Uniswap, Reddit rewarded their community members retroactively which is only the beginning of tokenizing activity on centralized platforms. All big names in the industry would be dead platforms without their users. Now that crypto has invited people to think about their contribution to certain projects/platforms more and more big names will have to do the same. I am only glad that Reddit stepped in first. Now on to the point.

1. Regardless of what people think about community points, they WILL increase content quality over time.

At first, it may look like they incentivize shitposting but don't forget that more and more users are learning that their upvotes have a monetary value. They will be more diligent over time and only upvote comments and posts that deserve their upvote. If given enough time, I am confident that quality can only go up, rather than going down.

2. Demand for Moons is already here.

Even though you can only convert them for Reddit-specific services right now, don't forget how large our community actually is. If we see the main net launch you can definitely expect all big exchanges to list Moons asap because they want to cash in on trading fees and they want more users on their platforms. The same goes for online markets that accept crypto. If Moons can be traded for other crypto and cash like right now on Honeywasp, why wouldn't someone add Moon payments to their website? It would bring more users to their website, more exposure, and of course, revenue.

3. More users will be coming to /r/cryptocurrency due to free Moon distribution.

Most news stories, price analysis, and many other crypto-related debates can be found on external sources for obvious reasons. They want to share their news in our community, but they want us to read them on their websites because of ad revenue. With Moons, independent journalists and researchers now have more incentive to post in our subreddit directly because their quality content will be rewarded with Moons. I can easily see this becoming a standard in the near future where every publication will have an active account on Reddit.

This is just the tip of the iceberg. I don't want to go around sparking fairytale ideas about Moons here but I do find them fascinating in one way or another. The sole fact that you can stake them right now combined with a limited supply makes me confident about the future of Moons. Please, don't take this as financial advice. I am only trying to create a debate here and hear other opinions on this particular subject.

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A Drop Under $300 Is the Path of “Least Resistance” for Ethereum

Ursprünglich erschienen auf: https://thebitcoinnews.com/a-drop-under-300-is-the-path-of-least-resistance-for-ethereum/

  • Ethereum could drop even lower than it has over the past few weeks as it faces strong resistance.
  • Analysts say that the crypto asset is vulnerable to a drop under $300 in the coming weeks.
  • The asset is running up against critical resistances around $360-375.
  • The coin will need to surmount this region, then hold it if it is to confirm more upside.

Ethereum Could Soon Drop Under $300, Analysts Fear

Ethereum is primed to drop lower as the cryptocurrency faces strong resistances above its current price, analysts say. One trader shared the chart below on September 29th, noting that ETH is likely to move lower as opposed to higher from here.

His sentiment seems to suggest that the resistance Ethereum is currently facing above its price is far more notable than the supports below. So much so that the trader said that the coin could reach $275-300 in the near future.

“I’ve been trying to fight it but I think $275 to $300 $ETH is the path of least resistance. The weekly is just a struggle. I’m an aggressive buyer at the 200 week MA.”

Chart of ETH's price action over the past few months with analysis by crypto analyst Ledger Status (@Ledgerstatus on Twitter). Chart from TradingView.com

He’s not the only one that thinks that Ethereum will move lower.

Michael Van De Poppe, a crypto analyst and trader at the Amsterdam Stock Exchange, recently said that the asset’s inability to pass the crucial hurdle of $366-375 will be disastrous for bulls. As reported by Bitcoinist previously, he said:

“All right, this one is moving upwards and that’s good. However, the crucial hurdle is around $366-375 to break. If that breaks, $ETH is ready for $415. If not, I assume $280 as a likely possibility for further corrective movements in Q4.”

Image

Chart of ETH's price action over the past few months with analysis by crypto analyst Michael Van De Poppe. Chart from TradingView.com

Fundamentals of ETH Strengthen

Despite this price action, the fundamentals of the Ethereum network are strong.

Commenting on the fundamentals of the entire crypto space with an Ethereum undertone, Spencer Noon, head of DTC Capital, said:

The strong fundamental backdrop to #crypto — which is unlike any bull market previously — is that there are billions of cryptodollars coming on-chain to use #DeFi. Unless that shows signs of slowing, we are on track for a multi-trillion dollar aggregate marketcap for the space.”

Noon has explained that the cryptocurrency market has better fundamentals than ever before. Ethereum has much to gain from these fundamentals, especially as there is high yield-offering opportunities based on the network.

Featured Image from Shutterstock
Price tags: ethereum, ethusd, ethbtc
Charts from TradingView.com
A Drop Under $300 Is the Path of "Least Resistance" for Ethereum

Post source: A Drop Under $300 Is the Path of “Least Resistance” for Ethereum

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Juggernaut: A Trust-less Network Allowing Users to Run Businesses and Create Synth DeFi Assets

Ursprünglich erschienen auf: https://thebitcoinnews.com/juggernaut-a-trust-less-network-allowing-users-to-run-businesses-and-create-synth-defi-assets/

The beauty of Juggernaut is that it allows the users to develop customized DeFi assets conducive to their business. In other words, Juggernaut takes the financial operations and understanding of the community to the next level.

This is done by allowing users to provide unique synthetic derivatives to the customers or their specific users. Presently, the platform has been developed to provide the synthetic assets only, but the developments are ongoing to add more tools and integrations to the system.

The benefits of building a DeFi community are manifold. These systems allow investors to invest in various assets and not stick to one particular trade. Secondly, it also allows an everyday investor to transact with the platform the same way as an institutional investor.

Customization Creates the Way for Endless Possibilities

The concept of tailor-made DeFi integrated with a business idea is highly lucrative, scalable, and a revolutionary aspect of Juggernaut. Such a model will not only bring more liquidity into the hands of investors but shall continue to do so for a long period of time.

Thereby, with Juggernaut’s customized DeFi abilities, business owners, investors, and traders are looking at a sustainable growth model, revenue generation with less intensity of speculation in the synthetic derivatives market.

Furthermore, the users stand to gain heavily from the staking and lock-in incentives. Due to the lock-in incentivization, $7.7 billion has been locked in with Juggernaut until before the mid of September 2020.

Every business owner can create, modify, and modularize the synthetic derivatives proffered by the JGN ‘j’ tokens. This means that since the platform will expand and diversify in the future, there can be more series of tokens that will address the different aspects of a business.

Similarly, JGN will provide users with next-gen DeFi infrastructure that has an extensive network of DeFi capabilities.

Usage of ‘j’ Tokens on the JGN Ecosystem

The ‘j’ tokens can be used to create, customize, and modularize the business operations via DeFi synthetics. Apart from this, the users can also regularize acceptance, allocation, and distribution of the profits among the users.

It can also help streamline the payment of commissions and dividends generated from swaps, stops, options, and calls. Furthermore, all the users are rewarded as per their activity and performance levels.

Another good thing about working with Juggernaut is that the business owners can also propagate the synths to be traded on other platforms powered by the Ethereum blockchain. So, it is not necessary to confine the trading options on a single platform. The users can take it forward, and because Juggernaut is a DeFi community, it is trustless, immutable, and a highly secure platform.

This is because crypto assets back all the synths that a business owner can generate on Juggernaut. Thus, these assets boast better liquidity and are easy to operationalize.

The First Operational Business Case on JGN

The very first business operating on the JGN network goes by the name of SKM. SKM leverages the communication and networking power of the DeFi community, combined with JGN’s ability to allocate the resources and allow SKM to reward the network operators and miners.

SKM or Skrumable Network is a P2P network structure that allows seamless, secure, and fast communication between the nodes via a hashed message protocol. Here, two types of nodes help run the communication network wherein the peer nodes broadcast, send, and receive messages while the validator nodes help create data blocks.

In short, SKM provides a system for inter-node and inter-validator communication that is highly secure and authenticated.

However, the miners need to stake JGN for getting to the mining machines in SKM. Plus, to receive a bonus reward, the miners need to stake for a designated time. However, the reward distribution can change as per the market forces.

JGN Fares better than other similar systems

With Juggernaut, the users and crypto-asset owners have access to a wide gamut of services and provisions that makes the success seem easy and approachable. With functions like collateral token (meaning JGN aims to allocate some percentage of the JGN tokens into every project).

Added to this, synthetics customization, ability to pay attention to the business, modern DeFi systems, and a higher market cap are available while working on the network.

Token Distribution and Supply

There are 150,000,000 tokens in supply from the JGN network, and they have made a sorted plan to distribute the tokens among the network smartly. These tokens can be bought or swapped from Uniswap, Balancer, and DeXs. But only 1% of the tokens are available on these platforms without any lock-ups.

4% of the tokens will be given under a private sale with a 3-month lockup period. 5% is with the advisers and teams for a 24 months lock-up period. Partners of JGN will be allowed to take 10% of the token supply, 20% with the foundation, and the rest 60% is available for yield farming.

To sum it up

Juggernaut is different from other DeFi systems. Not only is it secure, fast, and reliable, but it also helps businesses expand, sustain, and scale as needed. Creating custom synthetics backed by verifiable assets and the ability to offer the user-generated custom synth and offer them to the world to purchase males JGN unique and a highly profitable platform.

Post source: Juggernaut: A Trust-less Network Allowing Users to Run Businesses and Create Synth DeFi Assets

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Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

Ursprünglich erschienen auf: https://thebitcoinnews.com/uniswap-captures-2-billion-locked-dex-volume-outpaces-second-largest-centralized-exchange/

The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2 billion in total value locked (TVL) this week. Tuesday’s data shows out of all the decentralized finance (defi) application’s Uniswap dominates the $11 billion landscape by over 18%.

Just recently, the defi space has touched a few new milestones as the ecosystem’s TVL this week has topped $11 billion. The dex Uniswap is dominating the defi landscape by 18.65% with over $2 billion TVL to-date.

Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

Uniswap is followed by Makerdao ($1.9B), Aave ($1.56B), Curve.fi ($1.22B), and the Wrapped Bitcoin (WBTC) project ($990M). The Uniswap trading platform has captured a massive amount of demand this week with 104,324 unique users during the last seven days.

Today according to stats, the Uniswap dex is moving just as much trade volume as some of the top centralized exchanges (cex) globally. On Tuesday, Binance has the top trade volume as far as cex trade volumes are concerned with $2.5 million in 24-hour volume.

Coinbase Pro is the second-largest cex in terms of trade volume on Tuesday with $343 million trades during the last 24 hours. Uniswap is well above Coinbase Pro with $398 million today, making the dex the second-largest crypto exchange worldwide in terms of trade volume on September 29.

Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

Dex volume in general has been quite large this week and during the last seven days Dune Analytics data shows 13 dex platforms saw $3.7 billion in trades. $2.3 billion of those swaps took place on Uniswap as it currently captures 63.7% of the trailing seven day average.

Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

Cumulatively, all 13 dex platforms saw a whopping $24 billion in swaps during the last 30 days. Dex platforms following Uniswap’s trade volume lead include Curve.fi, 0x, Balancer, Kyber, Synthetix, Dydx, and the Bancor Network respectively.

Uniswap’s weekly and 24-hour trade volume has been a topical conversation on social media and crypto-related forums. A number of crypto enthusiasts wonder if dex volumes will someday supersede cex volumes entirely.

Ethereum proponents believe the rise of stablecoins and dex platforms like Uniswap are starting to prove ETH skeptics wrong.

“In the last bull market, critics said ETH had no use case besides scammy ICO’s,” the CTO and analyst Leon Fu from the web portal cryptocurrency.market recently told his 19,000 Twitter followers. “With the rise of stablecoins, Uniswap, and other protocols [that] enable actual utility [and] have nothing to do with ICO’s. Clearly, ETH skeptics were wrong,” he added.

What do you think about Uniswap’s massive trade volume this week and during the last 24 hours? Let us know what you think about this subject in the comments below.

The post Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange appeared first on Bitcoin News.

Post source: Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

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