Closely followed crypto strategist and trader Michaël van de Poppe is looking at what’s ahead for Ethereum (ETH) competitor Avalanche (AVAX) and four additional altcoins.
Van de Poppe tells his 567,500 Twitter followers that he’s looking at a key resistance area for Avalanche that could trigger a rally for the smart contract platform if surpassed.
“This one needs to break through the resistance at $80. If that breaks, a new run seems likely. Until then -> time to accumulate.”
Source: Van de Poppe/Twitter
Next up is Harmony (ONE), a blockchain focused on powering a decentralized economy. Looking at Harmony against Bitcoin (ONE/BTC), Van de Poppe predicts the pair is poised for a bounce after hitting support at 0.00000469 BTC or $0.18.
“This one should be having some sort of bounce from this area. My personal point of interest lies around the 350 sats [0.0000035 BTC or $0.13] region.”
Source: Van de Poppe/Twitter
Another coin on the trader’s list is payments infrastructure platform COTI (COTI). Van de Poppe says he expects COTI to print a bullish higher low setup against Bitcoin (COTI/BTC) before launching a 35% rally to his target at 0.00001 BTC ($0.38).
“This one is currently acting into resistance. Flipping that = probable trade to make. Otherwise, looking at a test around 740 sats [0.000074 BTC or $0.28] for a potential long entry.”
Source: Van de Poppe/Twitter
Van de Poppe is also keeping a close watch on the native asset of Hathor (HTR), a scalable cryptocurrency alternative that combines direct acrylic graph technology with decentralized blockchain technology. According to Van de Poppe, HTR is primed to hit a key support area against Bitcoin (HTR/BTC) at 0.0000148 BTC or $0.57.
“The range to buyHTRis coming up.”
Source: Van de Poppe/Twitter
The last coin on the trader’s radar is peer-to-peer payments network Litecoin (LTC). Van de Poppe says that while Litecoin is still in a downtrend against Bitcoin (LTC/BTC), he’s looking at a potential scenario where the pair could rally by 17%.
“Looking for a flip of the 3050-3100 sats [0.00305 BTC-0.0031 BTC or $117.01-$118.93] level for a potential long trigger. Until then -> no interest.”
Source: Van de Poppe/Twitter
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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.
Featured Image: Shutterstock/is.a.bella/Vladimir Sazonov
The financial tech company, Nuvei has announced the launch of crypto-friendly debit cards. The rollout, which involves collaboration with the American multinational payment service Visa, will target Nuvei’s partners across the European Economic Area (EEA) and United Kingdom (UK).
Crypto-Friendly Debit Cards
Simplex – Nuvei’s subsidiary – partnered with Visa to enable its clients to issue crypto debit cards back in December 2020. The fiat-on-ramp service provider is actually a principal member of the Visa network. Hence, it has permission to release Visa cards and offer consumers access to digital assets.
According to an announcement shared with CryptoPotato, the launch of new cards is expected to simplify the process of fiat-to-crypto on-ramp and off-ramp. This should, in turn, help users utilize and spend the funds from their crypto earnings.
Philip Fayer, Nuvei’s Chair and CEO, noted that the launch of branded Visa debit card is a crucial development and a huge asset for the company’s partners and their customers. He also underscored Visa’s role in expanding the ecosystem by bridging the gap between the traditional finance sector and the cryptocurrency industry.
While talking about the rising demand for cryptocurrencies, Nikola Plecas, Director of Crypto Solutions at Visa Europe, stated,
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“Awareness of cryptocurrencies has increased significantly amongst consumers across Europe, resulting in increased adoption as more people look to access crypto. We are excited to be part of this, and by deepening our relationship with Nuvei further, we are delighted to provide consumers with a simple and secure way to spend their crypto.”
The objective behind the collaboration between the two is to “optimize crypto and digital asset payments” by providing users with a simple mechanism to close the “fiat-to-crypto-to-fiat” loop since this process depends on the cooperation of the traditional financial system.
Besides, these debit cards should enable the user base of Nuvei’s partners to sell their crypto holdings seamlessly while being able to spend the resultant funds without any delay, wherever Visa is accepted. The announcement also stated that the customers using the new branded cards will have the same spending power with their crypto funds as they would with fiat currencies.
COTI, Simplex Collaboration
Earlier in September, the first batch of cards was delivered to the digital fintech platform COTI. This allowed the latter to launch cryptocurrency bank accounts as well as COTI-branded Visa debit cards.
The main goal behind the move was also to serve as a bridge between fiat and crypto-assets and target customers who were EU and EEA residents.
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The Index allows DeFi users to either hedge against or profit from volatility in the crypto market.
The index functions as a crypto version of the VIX (The S&P 500 Volatility Index), a real-time market index representing the market’s expectations for volatility over the coming 30 days.
COTI is the project behind the development and deployment of the CVI, which has also launched a decentralized trading system that enables a permissionless way to enter long/short positions on the index.
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CVI was developed and launched on the Ethereum MainNet on January 20th, 2021 by the COTI team in collaboration with Professor Dan Galai, creator of the VIX and part of the CVI board of advisors.
For those who are not familiar with the term, the VIX is an index that measures volatility in the stock market based on the implied volatility of S&P 500 Index options; it’s also referred to as the “Market Fear Index.”
In a similar way, the CVI helps users track and trade the 30-day implied volatility of Ether (ETH) and Bitcoin (BTC) by using the Black-Scholes options pricing model to foster an index that fluctuates between 0 and 200. Black-Scholes is a pricing model used to determine the fair price or theoretical value for a call or a put option based on six variables: volatility, type of option, underlying stock price, time, strike price, and risk-free rate.
The CVI is created by computing a decentralized volatility index from cryptocurrency option prices together with analyzing the market’s expectation of future volatility. Traders are able to use the index as a tool to either speculate or hedge on their portfolio if they think the volatility in crypto is going to increase.
As previously mentioned, the index can fluctuate between two numbers: 0 and 200. 200 will indicate the maximum level of volatility in the market whilst 0 is indicative of low volatility. Whenever we see the prices of BTC and ETH drop substantially the index will spike in the opposite direction.
Users can open a position on the CVI platform by simply connecting to their MetaMask browser extension and either selecting the buy or sell option depending on which side of the volatility they want to trade. Positions can be taken using USDC, ETH, and COTI.
Besides trading the index, users can also participate by providing liquidity to the platform. Liquidity provision is currently available in CVI/USDC and CVI/ETH and LP providers receive rewards in the form of $GOVI tokens. An interesting feature is that liquidity providers on CVI play the role of the counterpart for every trade made on the platform. In other words, if a trader bought insurance against volatility or against stagnation, the liquidity providers play the role of the insurance company. This is a great position to be in as it is much more lucrative than simply providing liquidity for a small fee and being at risk of impermanent loss.
The CVI project is governed by the $GOVI token and holders of the token are able to vote on matters such as leverage use, platform fees, deposit use, and tradable assets.
GOVI allows its holders to collect platform fees by staking the token. Initially, the $GOVI token was airdropped to $COTI holders and can only be claimed by using the CVI platform.
Since the CVI was developed entirely by the COTI team, at the beginning, COTI holders were the main gainers from the GOVI airdrop, but now every GOVI holder can earn from staking GOVI in the platform.
In order to avoid high gas fees from using the platform on the Ethereum blockchain, the team has managed to release a contract optimization model to cut down gas costs by about 40%. In addition, users can also benefit from a more cost friendly and almost instant experience by using the platform on the Polygon sidechain.
CVI uses a Chainlink-powered decentralized oracle network to aggregate options market data from multiple off-chain sources and deliver it on-chain.
In order to ensure decentralization and transparency, Chainlink architecture uses multiple independent oracles that use external adapters to retrieve trading options data from across the market in order to calculate the CVI. CVI uses Deribit exchange as its main data source for the index calculations as it is the most advanced and widely adopted platform for derivatives and options.
What does the platform hold for the future?
Along with the recent migration from USDT to USDC and a recent integration with investing.com, the founders of CVI have announced the implementation of new and exciting features for the protocol.
The first, is the launch of volatility tokens via CVOL (Crypto volatility token) and ETHVOL (Ethereum Volatility token). These tokens can be understood as being a wrapper for opening a long position on CVI and are tradable on Ethereum compatible DEXs. The tokens maintain their peg to the value of the underlying asset by following a rebase mechanism with a similar architecture to that of tokens like Ampleforth. The volatility tokens can be used to benefit from arbitrage trading strategies on other compatible DEXs.
Along with that comes the implementation of leveraged volatility tokens (ETHVOL-X2 and ETHVOL-X3) which will be supported within the same available liquidity pools and tradable in different DEX environments.
In an effort to make the user experience more affordable without sacrificing the underlying security features of the Ethereum mainchain, the team is also planning to deploy CVI on to the Optimistic Rollup chain Arbitrum. Finally, the project’s roadmap also plans to increase cooperation and integration with additional on-chain data oracles other than Chainlink, create the GOVI DAO to give the GOVI token holders the opportunity to decide on the direction of the CVI platform, and implement an impermanent-loss protection system for DEX users.
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A popular crypto strategist and trader is updating his analysis on three altcoins he says are primed to hit all-time highs.
The pseudonymous crypto analyst known as Capo tells his 183,700 followers that he’s still “all in” on altcoins.
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The trader expects DOT, the native asset of smart contract platform Polkadot, to “outperform all the majors.”
DOT is trading at $43.12 at time of writing, according to CoinGecko. Capo predicts it could surge past $250.
$DOT
Very bullish. It should outperform all the marjors.
Main targets are $250 and $650
I’m long on PrimeXBT: https://t.co/1YWbBb6qTE https://t.co/cP6eOk7v4e pic.twitter.com/GtH7zxZln2
— il Capo Of $NOIA (@CryptoCapo_) October 28, 2021
The trader is also bullish on the Cardano-backed altcoin project Coti (COTI).
COTI is an enterprise-grade platform that allows organizations to build their own payment solutions and digitize any form of currency using the networked datastructure protocol Trustchain.
The 182nd-ranked asset by market cap is trading at $0.55 at time of writing, up nearly 9% in the past week. Capo says COTI’s “minimum target is $1.70.”
$COTI chart update
Nothing has changed. It’s consolidating above the previous highs.
Minimum target is $1.70 pic.twitter.com/VfXuwPBX0x
— il Capo Of $NOIA (@CryptoCapo_) October 28, 2021
Capo is also optimistic about NOIA, the native token of the Syntropy ecosystem. Syntropy is an open-source protocol aimed at improving the internet via encryption and optimized performance.
NOIA is trading at $0.36 at time of writing, up 12.5% in the past seven days. Capo predicts the 331st-ranked asset by market cap will be trading between $1-2 at some point in December.
$1-2, and above $3 for the end of the cycle
— il Capo Of $NOIA (@CryptoCapo_) October 28, 2021
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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.
Featured Image: Shutterstock/breakermaximus/Sensvector
Digital fintech platform COTI (Currency of the Internet) has announced that it will be launching its long-anticipated mainnet 2.0 next month.
COTI Mainnet 2.0 Set to go Live
The company shared the news about its upcoming mainnet version 2.0 launch with CryptoPotato, stating that the upgrade will feature scalability and speed capabilities, as well as an optimum COTI platform.
“The release of Mainnet 2.0 will allow COTI’s network to grow further, supporting a wide range of financial technologies and use cases for enterprise and merchants, as well as for COTI users,” the project said.
According to the announcement, the new version of the network has been in the works for over a year, with lots of resources, including thousands of man-hours dedicated to ensuring the upgrade is successful.
Notably, COTI’s dedication targeted towards the development of its mainnet 2.0 has paid off, as the upgrade will go live on November 2, 2021, at 2 PM UTC, the company noted.
Upon launch, users will be able to enjoy the new service, which is poised to offer an enhanced and reliable digital platform, without having the need for any prior tech knowledge.
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Boosting Transaction Speed
Although COTI’s Trustchain infrastructure, which is integrated into the current mainnet, is capable of processing over 100,000 transactions per second (TPS), the project has made significant changes to its database to achieve faster transaction processing in version 2.0.
Some of the updates made to the database to improve transaction confirmation speed were carried out on the network’s storage engine RocksDB and the Queue management system, among others.
The upcoming upgrade will also provide fixes to some of the bugs found in the current version.
In preparation for the release, COTI noted that it successfully conducted a pilot program by moving its node operators to the new version’s testnet in order to ensure a smooth transition when it will officially migrate to mainnet 2.0.
COTI Provides Payment Services for Clients
The development comes less than a month after COTI partnered with Simplex to provide bank accounts and visa debit cards to its customers.
Per the announcement, the service will easily grant users access to the global monetary ecosystem and also bridge the gap between fiat and cryptocurrencies.
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A popular crypto strategist and trader says six mid-to-large cap altcoins will likely shine brighter than Bitcoin (BTC) in the coming months.
The pseudonymous crypto analyst known in the industry as Capo tells his 173,000 Twitter followers that he expects big moves from the smart contract platform Cardano (ADA).
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ADA is currently trading at $2.28, virtually the same from a week ago after battling back from a low of $2.13 on Wednesday.
Capo, who uses Elliot Wave theory for much of his analysis, says ADA and a number of additional crypto assets appear to be at the start of a fresh altcoin season.
Elliot Wave theory is a form of technical analysis that aims to predict future price movements by identifying collective trader psychology that appears on charts in waves.
He points to a new bull wave that appears to be starting in the Altcoin Perpetual Futures Index as one sign of what’s to come.
“ALTPERP bullish trend is intact too. It’s also forming a potential cup and handle, whose minimum extension is very high. Maybe the w3 is starting here because many altcoins are starting their w3.
Source: Capo/Twitter
Capo is also looking for NOIA, the native token of the Syntropy ecosystem, to outperform BTC in the weeks and months ahead. Syntropy is an open-source protocol aimed at improving the internet via encryption and optimized performance. NOIA is priced at $0.40 at time of writing, up 14% over the past week, according to CoinGecko.
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Next on the analyst’s list is COTI, an enterprise-grade platform that allows organizations to build their own payment solutions and digitize any form of currency using the networked datastructure protocol Trustchain. CoinGecko pegs COTI at $0.52, down 14% from $0.60 a week ago.
Next up is the decentralized machine-learning network Fetch.ai. The FET token is valued at $0.75, down 35% from its all-time high of $1.17 in early September.
The Ethereum-based virtual world known as The Sandbox is also on Capo’s list of coins that appear ready to outrun Bitcoin. The platform’s native token SAND is designed to allow users to monetize their gaming experience. SAND currently sits at $0.79, having ranged between $0.76 and $0.88 since last Friday, according to CoinGecko.
Last on Capo’s list is the eSports and blockchain-based video entertainment protocol Verasity. Its native token VRA is up 60% over the last week to $0.05, including a 30% surge over the past 24 hours.
Capo further explains in a lengthy thread why he’s seeing a new altcoin season in the making. He says Bitcoin appears to be targeting the six-figure mark.
“During bull markets money tends to flow from Bitcoin to altcoins, because people [are] greedy and always want more profits.
Now Bitcoin is confirming the bullish scenario, and $100k and higher targets are likely to happen in the next few months. This would create the perfect scenario for people to get comfortable and start speculating on altcoins.”
He is also seeing signs that Bitcoin’s dominance of the overall crypto market cap will lower but does warn of the potential of a major correction in early 2022, which might end the altseason as well as the overall crypto bull cycle.
“Huge hidden bearish divergence showing up, and the green support is getting weaker.
In my opinion, it will take the 2018 lows (36.50%) and the altseason could end there.”
Source: Crypto Capo/Twitter
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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.
Featured Image: Shutterstock/tunnelmotions/Dario Lo Presti
COTI is set to launch bank accounts and Visa debit cards for its users. The company which is building the very first stablecoin on the Cardano blockchain is moving forward with new products to expand its service offerings to its clients. COTI had announced that it had partnered with Simplex to bring this project to the fore, which would enable users to operate bank accounts and debits cards on the platform.
COTI has long been working on being a bridge between the finance and crypto world. Its services marry traditional finance offerings with the cutting-edge technology that comes out of the crypto industry. The partnership with Simplex enables COTI to provide its users with crypto-friendly bank accounts and debit cards, which the users will be able to operate and spend globally.
COTI Brings Crypto To Banking
Using the COTI bank accounts and debit cards makes it easy for users to spend their crypto. The bank account provides easy conversion of the crypto to fiat, which can then be spent by the user. In addition to funding their accounts with crypto, users can also load up using swift, SEPA, and cards. This makes it easy for users to spend their crypto no matter where they are in the world.
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Related Reading | EMURGO To Invest $100 Million In Cardano To Bolster DeFi Adoption
The bank accounts also provide its users with IBANs and customers can withdraw funds from their bank accounts using SEPA transfers, SWIFT, and ATM withdrawals. With plans to allow users to buy and sell crypto directly from their accounts with the VIPER wallet currently in the works. The accounts are available to customers who reside in the EEA (European Economic Area) and in the U.K.
COTI debit cards are issued by Visa and so the cards can be used anywhere Visa cards are accepted. COTI plans to release its debit cards in more countries as time goes on.
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ADA price recovers above $2.2 | Source: ADAUSD on TradingView.com
Releasing Cardano’s First Stablecoin
It was announced at the Cardano Summit which concluded last week that the foundation had formed a new partnership with COTI. This partnership will see the first stablecoin being created on the Cardano blockchain. Djed, a stablecoin that utilizes smart contracts, will be developed and released by the COTI Group as the first official stablecoin of the Cardano ecosystem.
Related Reading | Charles Hoskinson To Launch Three-Time Grammy Nominee Paul Oakenfold’s Album On Cardano
Djed will serve as an alternative way to pay transaction fees on the blockchain. As the first of Cardano’s decentralized finance (DeFi) protocols are set to debut on the network soon, using a stablecoin to carry out transactions will ensure that fee structures are transparent and more predictable for users. “I believe that adding the Djed stablecoin to the Cardano blockchain will significantly improve how transactions are settled on the platform,” said Shahaf Bar-Geffen, CEO, COTI Group.
A launch date is yet to be announced for the Djed stablecoin. But the COTI group will work in conjunction with the Cardano Foundation to bring this project to life on the blockchain.
Featured image from Forbes, chart from TradingView.com
Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter.
DYdX surpassed Coinbase in daily trading volume for the first time this week. Read on to discover why this was a seminal moment for the project’s founder.
What you’re about to read is the concise version of this newsletter. For the full breakdown of DeFi’s developments over the last week — released with more anticipation than a layer-two airdrop — register below.
dYdX surpasses Coinbase in trading volume for first time
Decentralized derivatives exchange dYdX has risen to prominence through 2021 as an alternative to the hegemony and governmental transparency of centralized exchanges. It was revealed that dYdX surpassed the daily trading volume of crypto exchange stalwart Coinbase for the first time in its history.
Analytical data from CoinGecko revealed that dYdX facilitated in excess of $4.3 billion trading activity on Sept. 26, eclipsing Coinbase’s output of $3.7 billion by almost 15%.
This marks a full-circle moment for dYdX founder Antonio Juliano, who previously applied his trade at Coinbase. He recalled a time when he first spoke to CEO Brian Armstrong about his ambitions to launch a company in the future, receiving the response, “That’s awesome, let’s see how we can help you do that.”
Juliano celebrated the landmark in a series of tweets last Sunday:
5 years ago I left @coinbase and eventually founded dYdX
Today, for the first time, @dydxprotocol is doing more trade volume than Coinbase pic.twitter.com/QzoKAUpH29
— Antonio | dYdX (@AntonioMJuliano) September 26, 2021
Cardano to enable new DeFi stablecoin with Coti
It was announced this week that Cardano’s payment gateway provider, Coti, is expected to issue a new stablecoin called Djed to support the ecosystem’s ambitions in ensuring price stability and increasing the transparency of gas fees on the network.
According to Djed’s research paper released in August, its stablecoin protocol will behave like an “autonomous bank that buys and sells stablecoins for a price in a range that is pegged to a target price.” The stablecoin will operate by maintaining a reserve of base coins while minting and burning various other stable assets and reserve coins.
Cardano founder Charles Hoskinson believes that the Djed stablecoin could be revolutionary for the crypto space, as it appeals to an “entirely new audience at a time when the industry is already experiencing astronomical growth.”
White hat hacker paid DeFi’s largest reported bounty fee
Automated market maker protocol Belt Finance offered the largest reported bounty in the history of DeFi this week to a white hat hacker responsible for discovering a bug that, if exploited, could have exposed $10 million in assets.
For his good-willed efforts, industry programmer Alexander Schlindwein received a generous compensation of $1.05 million, $1 million of which was granted by software security platform Immunefi, while the additional $50,000 was offered by Binance Smart Chain’s Priority One program upon which Belt Finance is built.
Cointelegraph spoke to Schlindwein for an exclusive insight into the timeline of events, as well as the wider implications of bounty programs on DeFi’s security landscape:
“I am strongly convinced of the importance of bug bounties and initiatives such as bounty funds. Bug bounties are the last line of defense should an issue slip through the overlying layers with the potential to prevent a devastating hack while instead seriously fixing the issue and compensating the finder.”
Schlindwein concluded, “It’s great to see hundreds of projects launching their bug bounty nowadays, which will certainly bring DeFi security forward in the long run.”
Token performances
Analytical data reveals that DeFi’s total value locked has increased 15.34% across the week to a figure of $121.41 billion.
Analytical data on Cointelegraph Markets and TradingView reveals that DeFi’s top 50 tokens by market capitalization largely struggled across the last seven days, with a handful of prominent exceptions.
DYDX secured the podium’s top spot with an impressive 82.39%. UNI came a respectable second with 23.88%, while PERP bagged third with 21.45%. Fourth and fifth place were claimed by FTM and XTZ with 11.62% and 8.67%, respectively.
Extra DeFi stories from the week:
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically evolving ecosystem.
The digital fintech platform COTI has announced its latest products that will provide Visa debit cards and bank accounts to users. Its partner in the initiative is the financial institution Simplex.
COTI’s New Services
COTI (Currency Of The Internet) – a blockchain platform allowing organizations to build their own payment solutions – has expanded its product line. According to an announcement shared with CryptoPotato, it teamed up with the fintech firm Simplex to introduce Visa debit cards and bank accounts to customers.
The new services would help users to access the monetary ecosystem easier and would serve as a bridge between fiat currencies and digital assets.
Clients would be able to open a new bank account with an IBAN and order a COTI Visa debit card. On it, they could convert crypto to fiat for global spending. Cash withdrawal from ATMs, both in SWIFT and SEPA regions, as well as topping up the account with crypto assets would also be possible.
The debit card would be implemented into COTI Pay. The blockchain platform added that in the future, it would integrate other features and loyalty-based plans into the offering.
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COTI revealed that it would roll out the cards on two rounds. It will send out 3,000 cards during the initial one, while 5,000 more will be available a month later.
The team behind the blockchain project assured it would distribute the solution to various regions around the globe. As of the moment, though, it applies only to EU and EEA residents.
COTI’s Other Partnerships
Recently, the enterprise-grade fintech platform announced another collaboration. This time with Cardano’s stablecoin hub, Ardana.
The alliance ensured crypto-to-fiat payments aimed at the Cardano community, in addition to consumers and merchants worldwide. Shahaf Bar-Geffen – COTI’s CEO – confirmed the move:
“Today, COTI is doing its first steps in Defi over Cardano, which we believe will be huge. We are happy to collaborate with the remarkable team of Ardana to bring new Cardano Native Assets to ADA Pay and scale up our operations.”
The news caught the attention of the crypto community. What’s more, COTI’s token price spiked by roughly 50%, hitting an all-time high (ATH) of $0.60. It tapped yet another record yesterday at $0.66 but has retraced now to approximately $0.62.
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While most of the crypto market continued to suffer through a correction over the past week, a handful of low-cap altcoins skyrocketed in value.
DESO, the native token for Decentralized Social, surged by more than 90% over the past seven days. The 75th-ranked asset by market cap is trading at $140.16 at time of writing, according to CoinGecko.
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According to the project website, Decentralized Social aims to be a “blockchain custom built from the ground up to power and scale a new category of decentralized social applications to one billion users.”
Last week when DESO launched, entrepreneur and software engineer Nadir Al-Naji revealed he was also the creator of BitCloud, and previously known only as Diamondhands, The Block reports.
Al-Naji has received $200 million of investment capital for the new project from a number of venture firms, including Andreessen Horowitz, Sequoia, Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Polychain Capital, Pantera Capital, and Arrington Capital.
The native token for the financial technology (fintech) payment solutions platform COTI (COTI) skyrocketed by 86.6% in the past week. The 140th-ranked asset by market cap is trading at $0.586221 at time of writing. Coinbase added support for COTI across all its platforms last month.
DYDX, the native token for the decentralized margin trading platform dYdX, also surged by 86.6% over the past seven days. The 91st-ranked asset by market cap is trading at $21.98 at time of writing, according to CoinGecko.
Activity on DeFi trading platforms has ballooned in the wake of China’s latest ban on cryptocurrency, CoinDesk reports.
CELR, the native token for the layer-2 scaling platform Celer Network, has skyrocketed by 76.9% in the past week. The 104th-ranked asset by market cap is trading at $0.156322 at time of writing.
Celer Network’s multi-chain network cBridge doubled its transaction volume in the past week, according to the project.
Today Celer’s cBridge surpassed $200M in total transaction volume a week after hitting $100M. No sweat. Just a start🏃. Our community can expect more from us.
🌉cBridge supports the most number of chains with the lowest fee in fully non-custodial mode. https://t.co/35fICZsz3A🔖 pic.twitter.com/n0JI06TFva
— CelerNetwork (@CelerNetwork) September 25, 2021
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