Day: June 3, 2021

BullPerks Raises $1.8 Million To Enhance Decentralized VC and Multi-Chain Launchpad Services

by Dailyhodl

June 3, 2021 – George Town, Cayman Islands

BullPerks is proud to announce the completion of its private funding round to the tune of $1.8 million. Numerous investors contributed to the round, enabling a smooth completion. Multi-chain launchpad services and decentralized venture capitalism solutions have tremendous potential to make a lasting impact on the cryptocurrency industry.

BullPerks is a community-dedicated decentralized venture capitalist and multi-chain launchpad for the cryptocurrency industry. This dual-pronged approach removes the illusion of VC-level investing being for early adopters only. Creating a more level playing field will bring more people to the cryptocurrency industry and innovative blockchain projects under development. Everyone has a chance to invest in supported projects.

BullPerks co-founder Eran Elhanani comments,

“We’re very pleased to close the raise from such high-quality investors. We were extremely oversubscribed in a very short time, so we had to limit ticket sizes in order to accommodate as many strategic investors as possible. This is definitely a vote of confidence of the investors in us as a team and in our project and vision.”

The team has completed a private funding round for $1.8 million. Notable investors include X21, GD10, Shima Capital, AU21, Alphabit, Genblock, Blocksync, Darkpool, Skynet Trading, Moonwhale, Sora Ventures, Faculty Capital, ThreeM Capital and more.

Investors have shown a keen interest in exploring the option of this decentralized VC solution. Moreover, the multi-chain launchpad approach by BullPerks will bring composability to the industry, something that is lacking today.

GD10 Ventures CEO and founder Deeban Ratneswaran adds,

“GD10 Ventures looks forward to supporting BullPerks’ democratization of the venture capitalist industry. BullPerks empowers small investors to compete with whales by allowing them to accrue lucrative projects at seed and private stages. We’re impressed by the strong and deeply experienced team that operates BullPerks, supported by a loyal network across multiple blockchains, their capacity to select disruptive ideas speaks for itself. All of the above gives us confidence that investors will garner a secure and equitable experience and an opportunity to level the playing field with crypto-whales.“

Sora Ventures managing partner Jason Fang states,

“As our industry demands products to be more decentralized, we see a need for platforms like BullPerks. We are extremely excited to be backing their mission as we see this to be a core element to how retailers will evaluate projects in the future.”

In the next quarter, BullPerks will integrate other chains, including Solana, Polygon, Tezos, and Cardano. The team is also pursuing multiple strategic partnerships and will enhance the investment opportunities for the decentralized VC aspect. BullPerks will also launch multiple projects on its multi-chain launchpad.

About Bullperks

BullPerks is the fairest and most community-dedicated decentralized VC and multi-chain launchpad – two projects under one roof using the same token and revolutionary tier system.

Contact

Eran Elhanani

eran@bullperks.com

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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Goldman Sachs Alum to Inject $100 Million Into Crypto

by Dailyhodl

Goldman Sachs alum Mike Novogratz is preparing to invest $100 million into crypto-based projects through his crypto-venture firm.

Co-founded in 2018 by Mike Novogratz and business partner Christian Angermayer, Malta-based Cryptology Asset Group is a leading investment company for blockchain and crypto-related businesses in Europe. 

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In a report released on Thursday, the company announced that it’s ready to support crypto venture funds and businesses globally by focusing on investments in first-time funds, emerging managers, seed rounds and GP stakes. 

Holding 85% of his multi-billion-dollar fortune in crypto, Mike Novogratz is a firebrand in the space. As a former executive at Goldman Sachs, Novogratz founded his wealth management firm Galaxy Digital in 2018. It currently manages over $1.5 billion. 

His continued efforts to support the cryptocurrency space with Cryptology are in line with a rapid shift toward digital assets, according to Cryptology CEO Patrick Lowry. Over the past three years, Cryptology increased its total capital from $33 million to over $540 million, as of June 1, 2021.

Novogratz spent the past six years trying to onboard investors into crypto. In a recent interview, he expressed the importance of providing easy avenues for investors to get involved.

“This is more than just a financial game. This is a revolution. And so I think the more people we can bring in the tent, the better. There are lots of investors whose first exposure to our space is going to be through public equities. That’s what they’re used to. That’s what they’re comfortable with.”

According to Angermeyer,

“We are at the very beginning of the crypto revolution, and we strive to become one of the leading global investors in this very nascent asset class. Our fund investment strategy will focus on emerging talent, taking a global approach, and will encompass both funds investing in equity stakes of crypto and blockchain-related companies as well as funds investing in crypto assets and tokens.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Institutions Gobbling Up Cardano and Two Additional Altcoins During Crypto Market Plunge: CoinShares

by Dailyhodl

Digital assets manager CoinShares says institutional investors are buying Cardano (ADA), XRP and Polkadot (DOT) as the crypto market struggles to recover from a massive correction.

In a new report, the firm says that investors are adding positions to their crypto holdings amid the widespread plunge in the prices of digital assets.

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The report shows cryptocurrency investment products recorded a net inflow of $74 million last week after two weeks of record outflows worth $151 million. 

Data shows that Ethereum (ETH) attracted $47 million worth of investments in that period, accounting for nearly 27% of the inflows last week. 

CoinShares adds that proof-of-stake coins are the other most popular assets among crypto buyers with ADA, DOT and XRP attracting inflows worth $5.2 million, $3.8 million and $4.5 million, respectively last week.

“Investment product flows indicate that altcoins remain popular with inflows into all altcoin investment products.”

In the same time frame, Bitcoin witnessed outflows of $4 million.

Overall, the amount of ADA, DOT and XRP under management (AUM) is valued at $27 million, $41 million and $45 million, respectively.

Bitcoin (BTC) remains on top with over $30 billion in AUM, followed by ETH with $11.82 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Anchorage and Crypto-focused BankProv to Provide Ethereum-backed Loans

by Decrypt

In brief

  • Anchorage is a crypto custodian.

  • It’s expanding its product suite to provide ETH-backed loans in partnership with BankProv.

Anchorage, which holds cryptocurrency assets such as Ethereum on behalf of institutions, is letting those institutions take out a line of credit.

Via a partnership with BankProv, formerly The Provident Bank, “crypto-native funds who have investments in Ethereum and a need for capital” can soon use the ETH to secure US dollar loans.

Anchorage maintains custody throughout, so there’s no need for institutional clients to give up their ETH or buy it back. The custodian simply treats it as collateral in case a client is unable to repay the dollar loan (plus interest). Clients with a sizable amount of ETH, meanwhile, can tap into a sizable line of credit without selling their digital assets.

It’s the latest service from Anchorage, which, in addition to storing crypto from its customers, also helps them “stake” their tokens to earn cryptocurrency rewards as well as participate in on-chain governance (some tokens essentially give their holders voting rights over decisions about a platform’s development).

For lending, Anchorage Digital president and co-founder Diogo Monica told Decrypt, “All Anchorage clients go through comprehensive due diligence and are assessed by our Risk Committee to determine the amount of credit extended and collateralization terms.” 

The BankProv loans are overcollateralized, meaning they require clients to put up collateral worth more than the cost of the loan. However, Monica said, “Anchorage has other types of loans, including ETH-backed loans, that may be undercollateralized if the borrower goes through risk due diligence.”

Other crypto custodians and platforms offer similar services. Retail clients at BlockFi, for instance, can already get crypto-backed loans in Bitcoin, Ether, Litecoin, or PAX Gold. At current rates, a $20,000 USD loan from BlockFi would require 14.83 ETH, or $40,000. This is due to cryptocurrencies’ high volatility. In the past month, Ethereum has gone to an all-time high of $4,357 and as low as $1,853. Lenders, understandably, want to ensure their collateral doesn’t become worth less than the asset—or that if it does, the loan will still be paid off.

Though Anchorage is partnering with BankProv, one of the oldest financial institutions in the US, it is already a national trust bank. The Office of the Comptroller of the Currency, led by then-Acting Comptroller Brian Brooks, bestowed it with a conditional OCC trust charter in January. However, that charter places limits on its direct lending abilities.

BankProv has been making a push to recruit crypto firms as clients ever since rebanding last July. According to its website, the bank has “leveraged our innovative and adaptive DNA from an almost-200-year history to become a future ready, full-service commercial blockchain bank.”

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DOJ to Give Ransomware Attacks Same Priority as Terrorism: Report

by Decrypt

In brief

  • The US Department of Justice will elevate ransomware hacks with to a similar priority level as terrorism, Reuters reports.

  • Recent high-profile ransomware attacks have affected the supply of meat and gas nationwide.

In the wake of ransomware attacks against Colonial Pipeline and the meat processing company JBS, the US Department of Justice will elevate ransomware to a similar priority level as terrorism, Reuters reports.

Ransomware is a type of malicious software that can freeze or otherwise disable a network until a ransom is paid. A Russian hacker group called DarkSide used ransomware against Colonial Pipeline last month, taking out much of the East Coast’s oil and gas supply. The company reportedly paid a multi-million dollar ransom in Bitcoin.

Earlier this week, another Russian group called REvil used ransomware against JBS, taking out meat plants nationwide. The company has not disclosed whether it paid out a ransom.

Ransomware hackers tend to demand payment in cryptocurrency, since it’s relatively easy to obscure the paper trail. DarkSide reportedly takes payment in both Bitcoin and Monero (a privacy coin). According to data from the blockchain analytics firm Chainalysis, the amount of crypto extorted from ransomware attacks grew 311% last year alone.

Reuters also reports that US attorney’s offices across the country are being told to coordinate their ransomware investigations with a “recently created task force in Washington.”

Speaking on the Russian origin of the JBS hack, White House Press Secretary Jen Psaki said that President Biden plans to bring up the issue of ransomware attacks with Vladimir Putin at an upcoming summit.

“Responsible states do not harbor ransomware criminals,” she said.

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Interview: Surfing The Bitcoin Wave With Bethany Hamilton And Adam Dirks

by Bitcoin Magazine

Professional surfer Bethany Hamilton and her husband Adam Dirks joined Matt Odell on the “Bitcoin Magazine Podcast.”

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For this special edition of the “Bitcoin Magazine Podcast,” Matt Odell sat down with Bethany Hamilton and her husband Adam Dirks.

Hamilton is an American professional surfer who survived a 2003 shark attack in which she lost her left arm, before ultimately returning to professional surfing. Hamilton and Dirks both take faith very seriously and when they read “Thank God For Bitcoin” by Jimmy Song and several other Bitcoiners, they started to understand the case for why corrupt money is bad for humanity and how Bitcoin redeems sound money for the world.

“There’s something interesting about Bitcoin where you have to be almost ready for it, ready to hear it,” Dirks explained. “And what it took was that kind of ‘rock bottom’ moment in life and for us that was the pandemic hitting and then our salary getting cut in half. We started questioning everything that’s going on in the government and then we started going down the rabbit hole.”

Both Hamilton and Dirks started taking Bitcoin much more seriously after the book and have recently come out publicly in support of the Bitcoin movement. To Hamilton and Dirks, Bitcoin offers common sense in a financial world that has lost its way.

Please enjoy this wide-ranging conversation between Hamilton, Dirks and Odell.

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Coinbase Is Giving Away $1.2 Million in Dogecoin

by Decrypt

In brief

  • Coinbase users will be eligible to sign up for a Dogecoin sweepstakes in coming days.

  • The news comes as users will finally be able to trade Dogecoin on all Coinbase’s platforms.

Coinbase added Dogecoin to its exchange on Thursday and, to gin up publicity for the event, declared the company would begin giving away $2 million worth of the novelty token to customers in the coming months.

“Dogecoin is now on Coinbase, and we’re giving away $1.2 million in prizes to celebrate,” said the company.

The news was relayed in a tweet with a link to further details that explained would-be winners must buy or sell $100 in DOGE by June 2021 to be eligible to win. The prizes will consist of $300,000 award, plus 10 smaller awards of $30,000 and 6000 of $100.

The giveaway is likely to please fans of the Shiba Ina-themed currency, who have long clamored for the exchange to add Dogecoin—in part to reap the so-called “Coinbase effect,” which describes the price pump that has occurred when it has added other coins.

So far, however, the Coinbase listing has failed to lift the token with the price of Dogecoin actually falling around 6% on Thursday:

Dogecoin’s price movements are similar to what occurred prior to Tesla CEO Elon Musk’s much-hyped Saturday Night Live appearance last month, which saw the price fall significantly after a frantic build-up—a phenomenon that has led some crypto pundits to opine “buy the rumor, sell the news.”

Coinbase’s Dogecoin giveaway follows a similar promotion earlier this year when it announced a sweepstakes to giveaway $500,000 worth of Bitcoin to mark its listing as a public company.

The Coinbase listing and sweepstakes marks another high water mark for Dogecoin, which launched as a meme-fueled joke in 2013 but has gained mainstream attention in recent months thanks to legions of Robinhood buyers and celebrity endorsements from the likes of Musk.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Automata Network Raises $2.4M in Funding Ahead of Binance Launchpad Release

by CryptoPotato

Decentralized service protocol, Automata Network, will be launched on Binance Launchpool and also managed to raise $2.4 million from investors in a just-concluded funding round.

According to a press release shared with CryptoPotato, the fresh capital is of $1 million raised during a seed round conducted in March. 

Binance to Lists Automata (ATA) on June 7

Automata’s debut on Binance Launchool will allow users to easily earn the project’s native token, ATA, via staking. Currently, users can stake their BNB, BUSD, and DOT in different pools to farm/earn ATA tokens on the platform. The ATA token will be officially listed on Binance on June 7.

Automata’s completed funding round was led by several institutional investors including the European digital investment company KR1, an early-stage fund for decentralized protocols, IOSG Ventures, and the US-based proprietary trading firm, Jump Trading.

A Network for Keeping dApps Private

Automata is a decentralized service protocol that provides privacy “middleware” services for decentralized apps (dApps) that helps them to maintain a high level of privacy and at the same time, allow frictionless integration onto platforms like Ethereum and Polkadot.

The project’s co-founder, Deli Gong, said:

“At a time when privacy continues to be held in theoretical regard everywhere, it is also a dismaying fact that practical adoption on the ground continues to be slow, if not negligible. We believe that making a break away from centralized infrastructure is only the beginning, and that offering developers and users an intuitive, seamless experience to make privacy a built-in option is the only way to move forward.”

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Dogecoin Price Predictions for 2021

by Dailyhodl
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Dogecoin has been at the center of the crypto bull run. While it started just as a meme, or joke rather, DOGE has grown to become one of the top 10 cryptocurrencies. For instance, it has received massive support from Elon Musk through his series of tweets.

Like other cryptocurrencies, Dogecoin experienced a remarkable period in the last half of 2020. But it did not stop there. The meme token continued its massive increase throughput in 2021, rising from a mere less than a penny to $0.72 in five months. But the big question is – will the cryptocurrency sustain its uptrend in the future?

If you plan to invest in Dogecoin, you will want to know whether the price will dip or proliferate. In this article, we take a look at Dogecoin in 2021 from leading prediction sites.

WalletInvestor

According to WalletInvestor, Dogecoin is an ‘outstanding’ long-term investment. The platform projects Dogecoin’s opening in June at an average price of $0.42. Additionally, the projections show that the price may average between $0.36 to $0.50 throughout June.

The cryptocurrency price is expected to rise in July to a maximum of $0.51 before reaching $0.52 in August. WalletInvestor expects the price of DOGE to go through a roller coaster of ups and downs while maintaining an uptrend through September and October.

In November, the opening price is expected to average $0.471 before reaching the highest price on the 27th to trade at $0.54. Similarly, the coin is expected to maintain an upward trajectory in December, ranging between $0.41 and $0.54. To be precise, the cryptocurrency is expected to close the year trading at an average price of $0.48.

Long Forecast

According to Long Forecast predictions, DOGE is expected to range between a maximum of $0.32 and a minimum of $0.92 in 2021. The site predicts the cryptocurrency will average $0.50 in June before closing the month at $0.40.

In the following month of July, Long Forecast predictions estimate DOGE will open the month at $0.34, which will also mark the minimum price for the month. However, the price is expected to increase significantly to a maximum price of $0.42 before retracing to close the month at $0.39. In August and September, the forecast expects the cryptocurrency to average $0.42 and $0.48, respectively.

Long Forecast systems project Dogecoin to average between $.50 and $.62 in October and close the month at $0.58 per coin. The uptrend is expected to continue in November, where a DOGE coin is expected to hover between $0.72 and $0.58. The average price forecast for December is predicted to be $0.74 and close the year at $0.78.

CryptoPredictions

CryptoPredictions base their predictions for DOGE on multiple sources, mostly on renowned investors and traders in the space. The website provides both technical and fundamental analysis – with interesting facts, like rapper Snoop ‘Doge’ tweeting a picture of his newly released album cover with a picture of Doge replacing his image on the album.

When we take a look at their predictions, we can see that they are positive for Dogecoin. According to the site, the coin is predicted to continue a strong uptrend in Q4 and hit a new all time high of $1.20. They expect the price of DOGE to drop by the beginning of 2022 to $1.05. They expect that the biggest factor influencing the price of Dogecoin will be Elon Musk and his massive support of the coin.

TradingBeasts

TradingBeasts provides forecasts for over 2,500 coins, including DOGE. They combine polynomial and linear regression with historical data to provide up-to-date predictions. According to TradingBeasts’ projections, Dogecoin is expected to hit $0.57 by the end of this month.

The price is expected to rise in July, ranging between $0.49 to $0.72, and close the month at $0.05. The Dogecoin uptrend is expected to continue gradually in August and September and trade between $0.50 and $0.74 in October.

TradingBeasts’ projections forecast DOGE to reach an opening price of $0.59 at the beginning of November before rising to a maximum price of $0.74 and eventually closing the month at $0.59. As per the predictions, Dogecoin is expected to close the year in an uptrend, reaching a maximum price of $0.75. The predicted price range in December is between $0.51 and $0.75.

Digital Coin Price

DOGE ranks in the top 10 list of leading cryptocurrencies in terms of market capitalization. As a result, it has attracted the attention of investors. However, like Bitcoin, Dogecoin is experiencing a downtrend. This could be a small retracement before resuming the massive bullish run it has experienced beginning around the middle of last year. The big question is – what will be the likely price of Dogecoin for the rest of 2021?

Well, according to Digital Coin Price predictions, DOGE is expected to increase in the future. According to their forecast, the current price of Dogecoin is likely to double in the next year to reach $0.72. Additionally, the site expects Dogecoin to reach an all-time high of $2.09 some time in the future.

Digital Coin Price predicts that Dogecoin will average $0.67 in June. The expected average price for Dogecoin in July is $0.61. The cryptocurrency is forecasted to trade at an average price of $0.60, $0.59 in August and September, respectively. In October, the average price of Dogecoin is expected to proliferate to $0.70 before falling to $0.56 in November. Dogecoin is expected to regain its upward trend in December and close the year at an average price of $0.67.

Cryptocurrency Price Prediction

Predictions from the above sites project a rising Dogecoin price in 2021. The Cryptocurrency Prediction Price platform has a similar forecast. However, Dogecoin is expected to trade over $1.00 as early as June. To be precise, the projected Dogecoin price in July is $1.69. The cryptocurrency is expected to trade at $1.86 and $1.97 in August and September, respectively. As per the forecast, Dogecoin is expected to cross the $2 mark in October and rise to $2.80 in November. The predictions show that Dogecoin will close the year trading at $2.99 in December.

Final words

Crypto investors have greatly benefited from the cryptocurrency bull run experienced during the better part of 2020 and the few months of 2021. However, most virtual currencies, including Dogecoin and Bitcoin, have experienced a significant dip in the past few days. It is not yet clear whether it is just a minor pullback or a major retracement. However, most prediction platforms hold that Dogecoin will regain its uptrend and experience a price increase for the rest of the year. While Dogecoin seems like a good short-term and long-term investment, it is imperative that you incorporate other analysis tools before arriving at your final investment decisions.

Michael Kuchar is a cryptocurrency trader and blockchain enthusiast. He is the creator of a popular educational trading-orientated blog called TradingBeasts, which primarily focuses on day trading CFDs on cryptocurrencies, forex, shares and other asset classes. Michael also stands behind one of the most popular cryptocurrency prediction systems out there, which has been featured on popular cryptocurrency blogs like Coinspeaker, Cointelegraph and NewsBTC. If Michael is not trading or blogging, he is most likely studying other new ways we can use blockchain technology and decentralized applications to our benefit.

 

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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