Ethereum (ETH/USD) retained its bid early in the Asian session as the pair added to gains above the 4300 level after trading as low as the 4282.07 level during the European session, with the interday low representing a test of the 23.6% retracement of the recent appreciating range from 3950 to 4376.65. Strong upside buying activity emerged around the 3950 area early this week, just above recent multiweek lows around the 3915 level. Traders are monitoring price activity around the 4391.41 level, representing the 50% retracement of the recent depreciating range from 4867.81 to 3915.
Additional upside retracement levels in this depreciating range include the 4503.84, 4642.95, and 4663.91 areas. ETH/USD bulls continue to focus on upside price objectives including the 4895.12, 5035.94, 5060.87, and 5268.46 areas. Following the recent volatility, downside price retracement levels and areas of potential technical support include the 3759, 3497, 3174, and 3125 levels. Traders are observing that the 50-bar MA (4-hourly) is bearishly indicating below the 100-bar MA (4-hourly) and below the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).
Price activity is nearest the 200-bar MA (4-hourly) at 4392.37 and the 200-bar MA (Hourly) at 4220.21.
Technical Support is expected around 3515.25/ 3375.24/ 3235.23 with Stops expected below.
Technical Resistance is expected around 4895.12/ 5035.94/ 5060.87 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Market intelligence platform Blockdata has suggested in a new report Bitcoin could outstrip credit card giant Mastercard in the number of dollar transactions value processed.
Bitcoin processes more dollar value than PayPal
Just recently, Bitcoin overtook the giant payment tech company, PayPal, in terms of value transfer. At the time of writing, the Bitcoin network recorded about $489 billion in processed value per quarter while PayPal’s value was around $302 billion.
While this represents a major milestone for the crypto industry, the value pales significantly against that of Mastercard and Visa—the other leading payment companies in the world.
Per available data, the two credit card giants processed around $1.8 trillion, and $3.2 trillion worth of transactions in the previous quarter respectively.
If Bitcoin’s network value is compared against those two, it would represent just 27% and 15% of the transaction volume processed by those giant fintech companies.
“If Bitcoin were to increase its value transferred per transaction today by 260%, it would be processing an equivalent volume to Mastercard on a daily basis.”
The report also identified a rise in the price of Bitcoin as another potential factor that could send the value process of the Bitcoin network to the same level as Mastercard.
According to the report, if the flagship continues at the pace of its current growth, it would match Mastercard’s level in a couple of years, i.e. if the current pace of growth is sustained, Bitcoin could be processing the same level of transaction with the payment company by as early as 2026.
However, if Bitcoin’s yearly average price is put into consideration, it could take as long as 2060 before the network is able to match that of Mastercard.
The report concluded that even if BTC is unable to match that of those payment companies soon, it has performed admirably well for a network that began a little over a decade ago.
Kibo Finance, a startup DeFi options trading platform, has announced the closing of a $1.5M seed round. Participating investors in the round include Republic, Huobi, Gate.io, Fenbushi, AU21, Genblock, Kenetic, MGNR, GSR, DFG, Bitcoin.com, David Garcia of Borderless Capital, Sandeep Nailwal (Co-founder of Polygon), and Mirza Uddin (Co-founder of Injective Protocol).
The Kibo Finance protocol allows buying and selling of options on more underlying assets outside of Bitcoin and Ethereum, including, but not limited to, Doge, Binance Coin, Gold, and Stocks. A feature that is first being built on Ethereum and Polygon, Kibo Finance will offer auto-hedging of pools and collateral management so Liquidity Providers (LPs) can maximize rewards.
“DeFi and crypto offerings in options trading platforms are still in their infancy and have significant limitations,” said Andrew Durgee, Head of Crypto and Tokenization at Republic. “Kibo Finance is a borderless experience, which means traders will have greater flexibility on a broader range of options across more blockchains and more possible underlying assets. Kibo is the future for serious traders.”
Structured so LPs get a fair reward for providing liquidity, Kibo traders are ensured of paying a fair price. Strategies include the ability to trade the volatility of an underlying asset without taking a directional position, hedge against a drop in the market, use leverage, and cap losses while speculating.
Originating from an essay written for the “30 under 30” program at QuantMinds International, the world’s largest conference for quantitative finance, Kibo’s founding team is made up of finance, math, and blockchain developers, with backgrounds working at institutions and companies, including Deribit, Artblock, BNP Paribas, and the University of Queensland.
“I am grateful for this amazing group of investors participating in our seed round who believe in the same vision I outlined back in 2019,” said Pierre Cumenal, CEO of Kibo Finance. “As a quantitative analyst by trade, great work and detail has gone into the technical structure of the protocol and has allowed me to assemble a team of top minds that cover all aspects of DeFi options trading.”
The Algorand cryptocurrency is the new-generation blockchain network. The technology is already called “blockchain 3.0.” The reason is that it solves the most pressing problems of Bitcoin’s scalability while maintaining security and decentralization. It is assumed that this new digital network will improve the efficiency of the regular financial system, and its protocol will facilitate the smooth circulation of currencies.
Algorand Overview
Algorand is a decentralized and open blockchain system, the main goal of which is to create a blockchain platform accessible to everyone, expanding the capabilities of users.
The main features of the ALGO platform are high throughput and instant verifiability, which provide excellent transparency. Thanks to this, users can quickly and cheaply transfer ALGO cryptocurrency.
Algorand operates on Proof-of-Stake (PoS), a consensus algorithm through which holders receive rewards by simply holding cryptocurrency in their wallets or exchange balances (many crypto exchanges support such a function).
The Algorand network has its native official token. For its initial distribution, the IEO (Initial Exchange Offering) of the Binance exchange was used. Tokens were distributed through a Dutch auction because the creators were convinced that the market participants should determine the coin’s value. Dutch auction means that prices are called in descending order instead of ascending one.
Let’s take a closer look at the main features of the Algorand platform:
A decentralized economy. Decentralization is of vital importance for businesses and all consumers of goods and services. As the economy becomes more digital, seamless, and transparent, companies need to use technologies that imply decentralization to avoid losing their strategic importance and strive to preserve potential.
Security and scalability. The protocol guarantees a high payment processing speed compared to traditional financial systems.
Full completion of the transaction. It is an innovative development of Algorand. Blockchain provides instant and unconditional completion of transactions without branching. Other blockchains suffer from uncertainty and lack of transactional integrity, and here this problem is solved.
The use of scientific research and influential business partners. Algorand cooperates with proven business leaders working in world-renowned companies.
Algorand Price Analysis
Before making any investment decisions, it is necessary to carry out some kind of preparatory work. So, you should do your own research and analyze the price history to find recurring patterns and indicators so that the value of your investments would not plunge.
According to the Algorand price predictions, this digital currency may grow soon. In addition, many crypto experts positively assess the future of ALGO, and we believe that over time and with proper development, the price of Algorand will continue its growth trend.
Algorand Actual Price
As of October 18, the Algorand price today is $1.73. The price has changed by −$0.08645 in the last 24 hours. Algorand has in total 10,000,000,000 ALGO tokens in circulation. The all-time highest ALGO price is $3.674475. The lowest registered price of ALGO is $0.0988663.
If you plan to buy Algorand coins, the best and safest place for it is a global cryptocurrency exchange Changelly. At our platform for instant crypto coins purchase, best rates, profitable trading offers by our fiat-to-crypto trading partners, and professional Customer Support are guaranteed to you!
Market Predictions
CoinArbitrageBot experts believe that Algorand is a promising cryptocurrency that may show new peaks. In the long term, ALGO may turn out to be a good investment. In 2022, the ALGO price might be $1.26.
According to the WalletInvestor’s Algorand price prediction, it can be a profitable investment and may be traded for $2.026 at the end of 2021 and $6.740 by the end of 2025.
As claimed by DigitalCoinPrice, ALGO’s average cost in the cryptocurrency market could be $2.2 by the end of 2021 and $4.36 by 2025.
Longforecast analysts predict that the Algorand price may reach $3.61–$4.48 by the end of 2021 and $7.89–$9.79 by the middle of 2025.
Algorand Future Price Prediction 2021-2030
In the next five years, the Algorand cryptocurrency could be listed on many cryptocurrency exchanges and trading platforms, and, as a result, the price is expected to rise. The Algorand community can attract users and marketers by certain cooperation with other projects and start-ups. While the token may sink if the bearish trend holds the market for a longer time, it is still assumed that by 2030, the Algorand price might be $60.
Algorand Price Prediction 2021
In 2021, according to the Algorand forecast and technical analysis, it is expected that the cost of the ALGO coin will cross the average level of $1.97; the expected minimum of the ALGO price at the end of this year might be $1.91. Moreover, Algorand’s price can reach a maximum level of $2.11.
Month
Minimum Price
Average Price
Maximum Price
November 2021
$1.86
$1.90
$1.99
December 2021
$1.91
$1.97
$2.11
Algorand Price Prediction November 2021
In November 2021, the price of Algorand is predicted to rise and reach the average monthly limit of $1.90, while the coin may be trading between a high of $1.99 and a low of $1.86.
Algorand Price Prediction December 2021
Algorand forecast for December 2021: the price is expected to touch the mark of $1.97, while the ALGO coin exchange rate might be between a high of $2.11 and a low of $1.91.
Algorand Price Prediction 2022
In accordance with historical data analysis, in 2022 the Algorand coin cost is expected to cross the level of $2.93. Also, the minimum predicted trading value of one Algorand coin might be $2.84 by the end of that year. Moreover, ALGO token can reach a maximum price level of $3.51 in 2022.
Month
Minimum Price
Average Price
Maximum Price
January 2022
$1.88
$2.06
$2.11
February 2022
$2.11
$2.21
$2.44
March 2022
$2.13
$2.22
$2.30
April 2022
$2.19
$2.29
$2.41
May 2022
$2.28
$2.38
$2.53
June 2022
$2.36
$2.45
$2.62
July 2022
$2.43
$2.53
$2.72
August 2022
$2.55
$2.63
$2.85
September 2022
$2.58
$2.68
$2.98
October 2022
$2.68
$2.76
$3.11
November 2022
$2.72
$2.82
$3.25
December 2022
$2.84
$2.93
$3.51
Algorand Price Forecast 2023
It is expected that the price of ALGO may cross the level of $4.43 in 2023. The forecasted minimum value of the Algorand cost might reach $4.22 in December. In addition, the ALGO coin may be trading at a maximum price level of $4.79.
Month
Minimum Price
Average Price
Maximum Price
January 2023
$2.81
$3.04
$3.17
February 2023
$3.12
$3.24
$3.35
March 2023
$3.12
$3.26
$3.38
April 2023
$3.28
$3.39
$3.51
May 2023
$3.28
$3.62
$3.71
June 2023
$3.46
$3.60
$3.82
July 2023
$3.53
$3.67
$3.97
August 2023
$3.59
$3.74
$4.15
September 2023
$3.70
$3.82
$4.30
October 2023
$3.83
$3.97
$4.45
November 2023
$3.98
$4.09
$4.59
December 2023
$4.22
$4.43
$4.79
Algorand Price Forecast 2024
The average exchange rate of Algorand cryptocurrency may cross $6.29 in 2024 in accordance with the digital asset forecast. It is expected that the minimum value of the ALGO coin by the end of that year should be $6.21. In 2024 ALGO trading rate might reach the maximum level of $7.09.
Month
Minimum Price
Average Price
Maximum Price
January 2024
$4.11
$4.37
$4.50
February 2024
$4.40
$4.59
$4.67
March 2024
$4.57
$4.79
$4.96
April 2024
$4.76
$4.93
$5.15
May 2024
$4.89
$5.03
$5.30
June 2024
$5.12
$5.33
$5.60
July 2024
$5.23
$5.44
$5.87
August 2024
$5.33
$5.55
$6.08
September 2024
$5.60
$5.77
$6.36
October 2024
$5.91
$6.13
$6.61
November 2024
$5.96
$6.22
$6.89
December 2024
$6.21
$6.29
$7.09
Algorand Price Prediction 2025
According to the forecast and fundamental analysis of Algorand crypto, it is expected that the price of ALGO might cross the average price level of $8.71 in 2025. The expected minimum value of the cost of Algorand by the end of that year should be $8.29. The token might reach a maximum price level of $10.55.
Month
Minimum Price
Average Price
Maximum Price
January 2025
$5.99
$6.62
$6.81
February 2025
$6.50
$6.75
$7.07
March 2025
$6.57
$6.89
$7.34
April 2025
$6.84
$7.09
$7.69
May 2025
$6.92
$7.23
$7.97
June 2025
$7.14
$7.45
$8.33
July 2025
$7.35
$7.60
$8.63
August 2025
$7.59
$7.90
$8.93
September 2025
$7.81
$8.06
$9.33
October 2025
$7.99
$8.30
$9.73
November 2025
$8.22
$8.47
$10.06
December 2025
$8.29
$8.71
$10.55
ALGO Price Prediction 2030
Long-term forecasting is often inaccurate because it cannot take into account many factors. The ALGO cryptocurrency has been around for quite a while, but it’s too early to calculate a long-term forecast based on historical data.
FAQ
What is the future of Algorand?
In terms of price, Algorand cryptocurrency has an outstanding potential to reach new heights. It is predicted that the cost of ALGO may increase. According to crypto experts and business analysts, the Algorand coin’s exchange rate might reach the highest price of $59.90 by 2030.
How much is Algorand worth?
Algorand cryptocurrency rate has all chances to reach $2 by the end of 2021 and may even get to $17 by 2025. The crypto market is volatile, and the price can change drastically.
Is Algorand a Cryptocurrency?
Yes, it is. The Algo is a cryptocurrency of the Algorand blockchain.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
ETHER RECOVERS MOST OF ITS LOSSES AFTER THIS WEEK'S 19% DIP
The second largest cryptocurrency by market cap ($525B with ETH dominance at 18.8% compared to Bitcoin's 40.4%) is presently trading a touch above its May ATH of $4382 although it's still 10% down from the current record price, which was set on the 10th of November at $4868. At the time of writing this article Ether (ETH/USDT) has been right in the middle of a price recovery process after briefly falling to an intraday low at $3956 during last Thursday's trading session. In our opinion an ongoing correction has been triggered by a combination of multiple factors and events: first of all the cryptomarket hadn't had any pullbacks for an unusually prolongued period of time – since September to be exact. Those of us who have been investing in crypto for longer than 6 months should already know to expect similar decreases in their assets' value especially when market sentiments remain overheated for over 5 weeks in a row as was the case until the 15th of November when the Fear & Greed Index finally got reset from over 70 all the way down to mid-30s last Friday and currently it's showing over 40, which still indicates Fear.Second factor that certainly played a role was an announcement from China that they will launch a ''full-scale'' clampdown on crypto mining. Additionally the communist state's rulers threatened that there will be serious consequences if any institution is found to be abusing its access to subsidized power in order to participate in the mining of digital assets. Now, looking at the Ethereum Network Hash Rate chart we can instantly notice a huge decline by roughly 26% back in May, when the Chinese authorities originally banned mining, which lead to a very deep correction lasting for over two months.What we don't see in the same chart is any sort of noticeable decrease that has taken place this week. In fact, the ETH Hash Rate power has been steadily increasing for nearly five straight months. Conclusion? The latest Chinese FUD mainly had a purely psychological effect on crypto investors since the great majority of mining rigs have already been moved to countries like the US, Kazakhstan, India etc. What's more, the network is more secure than it's ever been with the current Hash Rate of 846 Terahashes/s compared to May's ATH at 644 Terahashes/s, which represents an improvement by 31.3%. Another obvious factor that must have played some role in triggering the occuring adjustment in prices of digital assets was the infamous Infrastructure Bill that was expectedly signed by the POTUS Joe Biden last Monday and coincidentally that was the exact same day during which the pullback started. The legislation had been passed by the US Senate a few days earlier and we warned our readers last weekend that it was going to be a red flag for traders that were looking for a new position in the following days or even, touch wood, weeks.
In addition to all of the aforementioned possible triggers a couple of days ago we also had some admittedly worrying reports from India according to which the country's goverments aims to introduce and pass a cryptocurrency law in the parliamentary session that begins as soon as this month. Indian crypto market is one of the leading and fastest growing ones in the world with 15-20 million estimated investors so the alleged and still unofficial plans to tighten regulation of digital assets can quickly turn into another red flag.TECHNICAL ANALYSIS & ON-CHAIN DATAPhew, quite a lot of negative information so far, we had better move on to the charts now and start by saying that Ethereum has already recovered half of its losses sustained since the Monday crash. The coin's price bounced off the $4000 mark that was additionally fortified by the near presence of the 50-day MA. As a result Ether is technically still very much in an uptrend in spite of breaking down from an 8-weeks old parallel ascending channel, which was the main focus of our previous article on the asset. For the time being the main objective is to stay above token's May ATH of $4.37k and gather enough strenght to attempt an attack on $4660, which was one of Ether's previous record levels as well as a rejection point on the 3rd of November subsequently acting as decent support for five days prior to the pullback.Ultimately Ethereum's price action will obviously depend on Bitcoin (BTC/USDT) and the largest crypto is presently below many of its serious levels of resistance: $60k and 50-day MA to start with, so let's watch what happens there because a potential rejection will definitely bring down the entire cryptomarket as per usual. Last time we promised a bit of info on Ether's on-chain data, and here are some vital conclusions from our analysis:- Ethereum exchange outflows reached their all-time high this week- meanwhile the number of ETH's exchange deposits reached a 16-month low- add 2+2 and what you might see could be an incoming Supply Shock- the number of ETH addresses depositing to exchanges had a sharp spike prior to the correction but has declined since Monday- percentage of all ETH addresses that are in profit sits at 97% (from 100% a few days ago) and that's something to bear in mind. Nearly everyone could take profits at any time if they wanted to.- total number of unique addresses is on a steady increase and has just surpassed 136 million- Net Unrealized Profit/ Loss ratio is only at 0.65 compared to May's reading at 0.78 before a massive correction so still a long way to go, it would seem.All in all, the cryptomarket has been sending us really mixed signals this week: on the news front things are looking very sketchy, in the charts indecisive (20% crash followed by a solid recovery) and finally, on-chain data is pointing to Supply Shock in the following weeks/months. Regular updates on Ether each Sunday morning on cryptodaily.co.uk, so stay safe in the markets and see you again soon.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
BITCOIN IN A PIVOTAL SPOT AFTER RECENT 20% DECLINE IN PRICE
Last week on Sunday when the most recent article on BTC (BTC/USDT) was published on cryptodaily.co.uk, Bitcoin was fighting hard around the $64k mark to stay above that crucial level of support, which was where the April's ATH had been set as well. We also briefly mentioned that an overly optimistic or simply greedy sentiment of the cryptomarket had been standing out as one of the clear red flags along with the fact that there had been no proper correction for nearly two whole months, precisely since the 7th of September when ,mainly due to the China Evergrande FUD, the BTC's price declined as deep as by 25% within the following two weeks.What's more, since the very beginning of this ongoing bull-run that started on the 21st of this past July, the largest crypto by market capitalization ($1.1B, down 11% in the last seven days; current domination at 40.3%) had seen only that one single serious pullback that we've just talked about. So, in layman's terms, something had been brewing for a long time and last Monday finally a long overdue crash happened when Bitcoin lost its bloody attempt to defend $64k, which had lasted for nearly six days, but what's even worse, the price action has subsequently fallen below the ascending trendline (purple line in the chart), which originated from the 21st of July.Investors could have still hoped that the psychological $60k barrier would stop the token's value from more blood and it did at first, albeit only for a couple of days after which the downward momentum has eventually proved to be too strong as evidenced by a grim-looking red candle posted on the daily chart on Thursday. Looking at the Fear & Greed Index today it's fairly clear that market sentiments have completely flipped from 74/100, which indicated Greed last week (and Extreme Greed at 82/100 last month) to a very low reading at 34/100, which obviously represented Fear yesterday. As of now, Saturday the 20th the Index is still signalling Fear among investors at 43/100.PSYCHOLOGY, EMOTIONS, CORRECTIONS AND... STOICISMNow, the main reason we are talking in-depth about these previous price movements is simply to remind our readers that such sizeable and rapid decreases in value (which by the way can be even more brutal than the current one without necessarily signifying an upcoming trend reversal on a macro scale at all) are something that's perfectly normal and they ought to be expected at any time practically always. The more one anticipates something like this before it happens, the better they can mentally prepare and the less likely they will be to go into panic and as a result, to make some important decisions based on emotions.This approach works beautifully in investing as it does in life in general, you should try it if you haven't already and let us know in the comments section what effects you have had with that. While on the subject, the Stoic philosophy seems like a perfect tool that could be added to every investor's arsenal in order to be leveraged for making financial decisions, because it teaches the development of self-control and mental fortitude as a means of overcoming destructive emotions. Controlling one's mental state might be much more vital than any amount of TA, especially in times like these. Okay, now that's out of the way, let's change the scenery from ancient Greece back to the equally interesting contemporary Bitcoin charts, shall we?
TECHNICAL ANALYSIS
One thing that we should notice instantly in the BTC/USDT chart is the fact that Bitcoin has lost many of its key levels of support such as: the four-month old ascending trendline, the $64k level, then $60k as well as the 50-MA. Pretty bad week admittedly but below we still have got the 100-MA (and 200-MA further down), which currently sits around the $53k mark and that level should be considered pivotal as far as maintaining the ongoing bull-cycle is concerned in our opinion. That's exactly the highest price that Bitcoin reached this past September before it went into correction but it had also acted as key support on multiple ocassions going back to April and May earlier this year.If BTC somehow loses that level, which doesn't seem very likely, then we should look at the round value of $50k for a possible strong bounce to the upside or at least to be established as a local bottom of the current Bitcoin's pullback. That understandably is a bit of a grim short-term scenario but at this point investors should be prepared for anything, even for a dip below $50k, althought the lower the price gets, the more support it should receive.Now, in order for us to become fully bullish again, BTC has got a long way to go from the current price of $58700 at the time of writing these words. First of all it has to succesfully defend $58k, then it needs to get back above the 50-MA, which should be around $60k. This still will not be enough as Bitcoin wants to return above the most important value, which had been its ATH for half a year prior to establishing the October's record, namely $64k. Once BTC does that and additionally conquers $66k once again, we could be almost certain of setting a new ATH in the weeks that follow.Hitting $70k and then $73k would be a matter of time as BTC will have established a very strong uptrend at that point. But let's not get ahead of ourselves, The King of all Cryptocurrencies is definitely not out of the woods yet, albeit it seems to be showing the required will to fight having hit the lowest point since mid-October at $55.6k during yesterday's session. Next seven days should reveal to us where the Bitcoin's price will be going in the last month of 2021, so let's keep our eyes open and emotions under control. Regular updates on BTC each week on Saturday at 10:00 AM only on cryptodaily.co.uk.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Avalanche reached its all-time high on Thursday, jumping almost 30% in less than 24 hours.
And while surges like this aren’t uncommon among high market-cap cryptocurrencies, Avalanche’s rally is unique as the token defied the overall market downfall.
Strong on-chain activity and ambitious partnerships are behind Avalanche’s rally
Launched in September 2020, Avalanche has had a hugely successful year behind it. The fast-finality smart contracts platform prides itself on offering transaction finalization in under one second and has attracted a significant number of developers and dApps.
Its 2021 rally culminated this week with an almost 30% increase that defied the wider market downfall. Its native cryptocurrency, AVAX, saw its price jump from $87 to $110 in just over $24 hours, while Bitcoin dipped dangerously below its $60,000 resistance.
Graph showing Avalanche’s price between November 15th and November 18th (Source: CryptoSlate TradingView)
The rally was partly fueled by news of Avalanche’s latest partnership—earlier this week, the platform announced that it has formed a strategic alliance with Deloitte, one of the “Big Four” accounting firms. According to the company’s announcement, Deloitte will leverage Avalanche’s blockchain platform to launch a new disaster recovery platform to help state and local governments easily demonstrate their eligibility for federal emergency funding.
1/ Ava Labs is thrilled to announce its partnership with @Deloitte to build more efficient disaster relief platforms using the Avalanche blockchain.
This effort combines the speed, resilience and adaptability of Avalanche, and Deloitte's Fortune 100 enterprise knowledge.
However, the announcement seems to have been a cherry on top of over two months of stable, organic growth the platform has seen. Avalanche has seen a 284% increase in the number of unique active addresses since September.
Graph showing the number of unique addresses on Avalanche’s C-Chain (Source: SnowTrace)
The growth in the number of users was followed by an equally rapid rise in the number of daily transactions, which increased fivefold during the same period.
Graph showing the number of daily transactions on Avalanche’s C-Chain (Source: SnowTrace)
Another major contributor to AVAX’s rally was the newly announced fund. Launched on Monday, the $200 million Blizzard fund will support emerging use cases for Avalanche, such as security token issuance, liquidity providers, and self-sovereign identity. Aside from Ava Labs and the Avalanche Foundation, Polychain Capital, Three Arrows Capital, and Dragonfly Capital contributed to the fund.
On December 25, Los Angeles’ iconic Staples Center will be renamed into Crypto.com Arena.
To claim naming rights, crypto exchange Crypto.com signed a 20-year contract worth $700 million, reported CNBC, citing a person familiar with the deal.
Crypto.com Arena
Staples Center will be renamed to Crypto.com Arena this December, as the LA Lakers host the Brooklyn Nets in the National Basketball Association’s annual Christmas Day games.
We're extremely proud to announce that Staples Center, Los Angeles' most iconic arena is getting a new name:
The deal made between Crypto.com and AEG, the owner and operator of the arena, ties Singapore cryptocurrency exchange in a partnership with the legendary basketball and hockey teams, LA Lakers and LA Kings.
According to the report, Staples paid $116 million over 20 years for the naming rights to the arena, starting in 1999.
“In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Crypto.com’s chief executive, Kris Marszalek told Los Angeles Times.
Beyond sports events, the venue hosted major events such as the Grammys and claimed an important place in the city’s cultural landscape.
Crypto mainstream adoption
“It’s a bit of a match made in heaven, when we think about the type of brands that we like to partner with,” AEG president and CEO Dan Beckerman told LA Times.
“Crypto.com is looking for the most unique branding platform to make a statement and drive adoption, and we’re looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events,” he added.
Crypto.com already has several commercial sports partnerships, but the first in the NBA go to the Philadelphia 76ers.
To tip off the deal, which made Crypto.com the team’s official jersey patch partner, the 76ers announced launching their first-ever non-fungible token (NFT), available through Crypto.com NFT.
Earlier this year, the Singapore-based crypto exchange also signed a deal with the Montreal Canadiens of the National Hockey League and secured a brand presence in the Formula 1′s Sprint series through a $100 million sponsorship.
The Mark Zuckerberg announcement on October 28 that Facebook would be changing its name to Meta, and that his company would be going lock stock and barrel into all things metaverse, may have surprised many. However, the way things have been moving in this sector, Zuckerberg and his team are nowhere near the first to get going on it.
Metaverse appears to be an unstoppable trend that is taking over the hype baton from the likes of decentralised finance and NFTs. Both of these niches are simply enormous growth areas within the crypto sphere.
Notwithstanding, the metaverse is where both will reside, as humankind starts to move more fully into an online world which will contain much of what they now get in the real world.
The key to everything though is decentralisation. Zuckerberg’s Facebook history of shoddy dealings with user data does not bode well for those wishing to enter its metaverse.
Even the regulators baulked at Facebook’s Libra stablecoin attempt, and now with its latest Diem project also struggling to get the go-ahead, it seems that MZ and Facebook have decided to pivot into the metaverse.
Nevertheless, can you see even those with a grain of sense wishing to KYC, and then have all their data harvested by such a corporation?
Luckily, we have decentralised metaverse to explore, to set up in, and to invest in. The Winklevoss twins, Marc Andreessen, Alan Howard, and other big hitters recently announced their part in a $100 million investment fund earmarked for NFT and ‘decentralised’ metaverse infrastructure.
Also, a quick look under the categories section of Coingecko reveals that the Metaverse category, well down in 21st position based on size of market cap, looks to be still fairly under represented.
In first place in the category is Axie Infinity, on the way to becoming a true gaming metaverse now that land NFTs are to become part of the ecosystem. The market cap for AXS is $9.3 billion, with Decentraland, Enjin Coin and The Sandbox taking up the next 3 places with $4.2, $2.8, and $2.4 billion respectively.
All areas in this category will be set to grow strongly over the next few months, in the variety of metaverses, size of market caps, and the position of the category itself as compared to layer 1 blockchains, NFT platforms, and stablecoins etc.
The metaverse is still in its infancy, but looking into the future, could this be what houses absolutely everything in Web 3.0?
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Polygon, an Ethereum scaling platform, today announced the addition of fiat payment onramps for its network, thanks to a new partnership with Alchemy Pay.
Alchemy Pay will create a bridge between fiat and crypto payments by embedding into the Polygon Network, enabling any Polygon-based protocol to set up a fiat on-ramp. Additionally, the move will simplify DeFi app payments on e-commerce platforms, such as Shopify and other networks.
More than 4,000 hosted apps within Polygon’s DeFi ecosystem will now be able to enact transactions on their DeFi apps via direct fiat on-ramps to traditional financial payment platforms like Visa, Mastercard, PayPal, and multiple local payment channels.
Currently, Alchemy Pay handles $5M in daily transactions, mostly from Asia and Europe. A higher volume of U.S. transactions is foreseen after Shopify completes integration with Polygon by the end of 2021.
“DeFi protocols have been flourishing but challenges with Ethereum’s usability at a global scale have slowed development. Scaling solutions are vital to DeFi’s ability to go mainstream. Polygon is already solving the problem of Ethereum’s slow and costly transactions, and now thanks to Alchemy Pay, we can provide an essential gateway between fiat and crypto transactions. This development opens up new capital inroads that will propel users of polygon’s DeFi ecosystem onto the next level in their commercial development.” – Sandeep Nailwal, Co-Founder of Polygon
As a full-stack scaling platform, Polygon has become a leading solution in reducing congestion on Ethereum. In September, the number of daily active users on Polygon regularly surpassed those on Ethereum. Yet, rather than being a competitor to Ethereum, Polygon facilitates activity on Ethereum.
Still, DeFi advocates acknowledge that Ethereum needs to find ways to accept fiat into the ecosystem. The network’s ability to manage transactions between fiat and crypto will be crucial for drawing users.
“The integration of fiat payment options is key to the goal of a frictionless payment experience on crypto networks. It will reduce the tendency of users to hold tokens long term and make it more appealing to use them within dApps. This, in turn, will appeal to developers who want to build DApps that people can actually use. Both Polygon and Alchemy Pay enable people to use blockchain apps and DeFi platforms rather than just speculate on the tokens.” – John Tan, CEO of Alchemy Pay
Moreover, Polygon and Alchemy Pay are also both part of a newly-forming Blockchain Infrastructure Alliance (BIA) of leading blockchain infrastructure builders. The BIA is made up of crypto exchanges, stablecoin issuers, DeFi platforms, payment solutions, and other vital roles to promote and drive the growth of the cryptocurrency and blockchain space. The BIA funds research and nurtures projects that seek to optimize DeFi and blockchain infrastructure.
AlphaPoint, a white label software company powering crypto exchanges, has announced its membership in the Bermuda Monetary Authority (BMA) Innovation Hub, an innovation track formed by the BMA.
Participation in the Innovation Hub will provide AlphaPoint interested member companies with access to industry-leading financial technology solutions, primarily white label software for launching and operating crypto and digital asset marketplaces.
The BMA, the regulatory body overseeing Bermuda’s financial services sector, originally launched the Innovation Hub initiative in April 2018 in recognition of the growing importance of disruptive innovation in the insurance industry. Now, the Innovation Hub has expanded to include a breadth of technology partners that play critical roles in improving efficiency and driving competitiveness in evolving markets.
“On behalf of the Bermuda Government, I’d like to congratulate AlphaPoint on their membership in the BMA’s Innovation Hub. By expanding upon the services available to participants in this initiative, AlphaPoint is showcasing one of many ways by which Bermuda, as a jurisdiction, is progressing towards the integration of digital asset business activities into traditional financial infrastructure.” – Premier David Burt
Offering a comprehensive set of white-label software, AlphaPoint’s solutions include Exchange Technology, Liquidity Solutions, Custody, and Yield. These tools have been used to deliver innovative financial products and services to over 150 clients including Exchange Operators, Brokerages, OTC Desks, Liquidity Providers & Market Makers, and Security Token (STO) Exchanges.
“Bermuda and the BMA have provided strong and clear guidelines for digital asset businesses that have attracted many global players to operate under their framework, and AlphaPoint is proud to be the first white-label exchange software provider of institutional-grade marketplace infrastructure to join the BMA Innovation Hub.” – Igor Telyatnikov, AlphaPoint CEO & Co-Founder
OroPocket, an app that allows users to trade crypto and other real-world assets via on-chain synthetics, announced today that it has established a partnership with Onfido, an identity verification, and authentication platform, to implement safe and fast identity verification for user onboarding.
Onfido uses artificial intelligence (AI) and facial biometrics to validate identities, providing a better user experience for OpenDeFi users while decreasing fraud. The integration automates user onboarding and streamlines Know Your Customer (KYC) requirements.
By integrating Onfido’s identity verification solution, investors can now sign up on OroPocket by simply taking a photo of their government-issued identity document (ID) and selfie. Onfido checks that the ID is genuine and ensures the person presenting the identity is the legitimate owner and is physically present.
“As OpenDeFi expands into new markets, they can now perform customer verification at scale, and Onfido’s comprehensive coverage—spanning over 2,500 document types in 195 countries—will be there to help make the OroPocket app more accessible to Indian as well as global investors via their platform.” – Harvinder Singh, VP, Sales & Operations (APAC) at Onfido.
OpenDeFi, the company behind OroPocket provides 100% asset-backed banking and fiat on-ramps on its blockchain-based OroPocket app. Within the app, users can invest in multiple asset classes, and enjoy 100% liquidity—all on the blockchain.
“This collaboration offers OpenDeFi the identity verification technology and experience it requires to maintain its industry-leading position. We have great plans, and we’re thrilled that Onfido’s ground-breaking fraud detection technology will help us achieve them.” – Tarusha Mittal, Co-Founder at OpenDeFi by OroPocket
The Algorand cryptocurrency is the new-generation blockchain network. The technology is already called “blockchain 3.0.” The reason is that it solves the most pressing problems of Bitcoin’s scalability while maintaining security and decentralization. It is assumed that this new digital network will improve the efficiency of the regular financial system, and its protocol will facilitate the smooth circulation of currencies.
Algorand Price Today
Algorand Overview
Algorand is a decentralized and open blockchain system, the main goal of which is to create a blockchain platform accessible to everyone, expanding the capabilities of users.
The main features of the ALGO platform are high throughput and instant verifiability, which provide excellent transparency. Thanks to this, users can quickly and cheaply transfer ALGO cryptocurrency.
Algorand operates on Proof-of-Stake (PoS), a consensus algorithm through which holders receive rewards by simply holding cryptocurrency in their wallets or exchange balances (many crypto exchanges support such a function).
The Algorand network has its native official token. For its initial distribution, the IEO (Initial Exchange Offering) of the Binance exchange was used. Tokens were distributed through a Dutch auction because the creators were convinced that the market participants should determine the coin’s value. Dutch auction means that prices are called in descending order instead of ascending one.
Let’s take a closer look at the main features of the Algorand platform:
A decentralized economy. Decentralization is of vital importance for businesses and all consumers of goods and services. As the economy becomes more digital, seamless, and transparent, companies need to use technologies that imply decentralization to avoid losing their strategic importance and strive to preserve potential.
Security and scalability. The protocol guarantees a high payment processing speed compared to traditional financial systems.
Full completion of the transaction. It is an innovative development of Algorand. Blockchain provides instant and unconditional completion of transactions without branching. Other blockchains suffer from uncertainty and lack of transactional integrity, and here this problem is solved.
The use of scientific research and influential business partners. Algorand cooperates with proven business leaders working in world-renowned companies.
Algorand Price Analysis
Before making any investment decisions, it is necessary to carry out some kind of preparatory work. So, you should do your own research and analyze the price history to find recurring patterns and indicators so that the value of your investments would not plunge.
According to the Algorand price predictions, this digital currency may grow soon. In addition, many crypto experts positively assess the future of ALGO, and we believe that over time and with proper development, the price of Algorand will continue its growth trend.
Algorand Actual Price
As of October 22, the Algorand price today is $1.86. The price has changed by −$0.050 in the last 24 hours. Algorand has in total 10,000,000,000 ALGO tokens in circulation. The all-time highest ALGO price is $3.674475. The lowest registered price of ALGO is $0.0988663.
If you plan to buy Algorand coins, the best and safest place for it is a global cryptocurrency exchange Changelly. At our platform for instant crypto coins purchase, best rates, profitable trading offers by our fiat-to-crypto trading partners, and professional Customer Support are guaranteed to you!
Market Predictions
CoinArbitrageBot experts believe that Algorand is a promising cryptocurrency that may show new peaks. In the long term, ALGO may turn out to be a good investment. In 2022, the ALGO price might be $1.26.
According to the WalletInvestor’s Algorand price prediction, it can be a profitable investment and may be traded for $2.026 at the end of 2021 and $6.740 by the end of 2025.
As claimed by DigitalCoinPrice, ALGO’s average cost in the cryptocurrency market could be $2.2 by the end of 2021 and $4.36 by 2025.
Longforecast analysts predict that the Algorand price may reach $3.61–$4.48 by the end of 2021 and $7.89–$9.79 by the middle of 2025.
Algorand Future Price Prediction 2021-2030
In the next five years, the Algorand cryptocurrency could be listed on many cryptocurrency exchanges and trading platforms, and, as a result, the price is expected to rise. The Algorand community can attract users and marketers by certain cooperation with other projects and start-ups. While the token may sink if the bearish trend holds the market for a longer time, it is still assumed that by 2030, the Algorand price might be $60.
Algorand Price Prediction 2021
In 2021, according to the Algorand forecast and technical analysis, it is expected that the cost of the ALGO coin will cross the average level of $1.97; the expected minimum of the ALGO price at the end of this year might be $1.91. Moreover, Algorand’s price can reach a maximum level of $2.11.
Month
Minimum Price
Average Price
Maximum Price
November 2021
$1.86
$1.90
$1.99
December 2021
$1.91
$1.97
$2.11
Algorand Price Prediction November 2021
In November 2021, the price of Algorand is predicted to rise and reach the average monthly limit of $1.90, while the coin may be trading between a high of $1.99 and a low of $1.86.
Algorand Price Prediction December 2021
Algorand forecast for December 2021: the price is expected to touch the mark of $1.97, while the ALGO coin exchange rate might be between a high of $2.11 and a low of $1.91.
Algorand Price Prediction 2022
In accordance with historical data analysis, in 2022 the Algorand coin cost is expected to cross the level of $2.93. Also, the minimum predicted trading value of one Algorand coin might be $2.84 by the end of that year. Moreover, ALGO token can reach a maximum price level of $3.51 in 2022.
Month
Minimum Price
Average Price
Maximum Price
January 2022
$1.88
$2.06
$2.11
February 2022
$2.11
$2.21
$2.44
March 2022
$2.13
$2.22
$2.30
April 2022
$2.19
$2.29
$2.41
May 2022
$2.28
$2.38
$2.53
June 2022
$2.36
$2.45
$2.62
July 2022
$2.43
$2.53
$2.72
August 2022
$2.55
$2.63
$2.85
September 2022
$2.58
$2.68
$2.98
October 2022
$2.68
$2.76
$3.11
November 2022
$2.72
$2.82
$3.25
December 2022
$2.84
$2.93
$3.51
Algorand Price Forecast 2023
It is expected that the price of ALGO may cross the level of $4.43 in 2023. The forecasted minimum value of the Algorand cost might reach $4.22 in December. In addition, the ALGO coin may be trading at a maximum price level of $4.79.
Month
Minimum Price
Average Price
Maximum Price
January 2023
$2.81
$3.04
$3.17
February 2023
$3.12
$3.24
$3.35
March 2023
$3.12
$3.26
$3.38
April 2023
$3.28
$3.39
$3.51
May 2023
$3.28
$3.62
$3.71
June 2023
$3.46
$3.60
$3.82
July 2023
$3.53
$3.67
$3.97
August 2023
$3.59
$3.74
$4.15
September 2023
$3.70
$3.82
$4.30
October 2023
$3.83
$3.97
$4.45
November 2023
$3.98
$4.09
$4.59
December 2023
$4.22
$4.43
$4.79
Algorand Price Forecast 2024
The average exchange rate of Algorand cryptocurrency may cross $6.29 in 2024 in accordance with the digital asset forecast. It is expected that the minimum value of the ALGO coin by the end of that year should be $6.21. In 2024 ALGO trading rate might reach the maximum level of $7.09.
Month
Minimum Price
Average Price
Maximum Price
January 2024
$4.11
$4.37
$4.50
February 2024
$4.40
$4.59
$4.67
March 2024
$4.57
$4.79
$4.96
April 2024
$4.76
$4.93
$5.15
May 2024
$4.89
$5.03
$5.30
June 2024
$5.12
$5.33
$5.60
July 2024
$5.23
$5.44
$5.87
August 2024
$5.33
$5.55
$6.08
September 2024
$5.60
$5.77
$6.36
October 2024
$5.91
$6.13
$6.61
November 2024
$5.96
$6.22
$6.89
December 2024
$6.21
$6.29
$7.09
Algorand Price Prediction 2025
According to the forecast and fundamental analysis of Algorand crypto, it is expected that the price of ALGO might cross the average price level of $8.71 in 2025. The expected minimum value of the cost of Algorand by the end of that year should be $8.29. The token might reach a maximum price level of $10.55.
Month
Minimum Price
Average Price
Maximum Price
January 2025
$5.99
$6.62
$6.81
February 2025
$6.50
$6.75
$7.07
March 2025
$6.57
$6.89
$7.34
April 2025
$6.84
$7.09
$7.69
May 2025
$6.92
$7.23
$7.97
June 2025
$7.14
$7.45
$8.33
July 2025
$7.35
$7.60
$8.63
August 2025
$7.59
$7.90
$8.93
September 2025
$7.81
$8.06
$9.33
October 2025
$7.99
$8.30
$9.73
November 2025
$8.22
$8.47
$10.06
December 2025
$8.29
$8.71
$10.55
ALGO Price Prediction 2030
Long-term forecasting is often inaccurate because it cannot take into account many factors. The ALGO cryptocurrency has been around for quite a while, but it’s too early to calculate a long-term forecast based on historical data.
FAQ
What is the future of Algorand?
In terms of price, Algorand cryptocurrency has an outstanding potential to reach new heights. It is predicted that the cost of ALGO may increase. According to crypto experts and business analysts, the Algorand coin’s exchange rate might reach the highest price of $59.90 by 2030.
How much is Algorand worth?
Algorand cryptocurrency rate has all chances to reach $2 by the end of 2021 and may even get to $17 by 2025. The crypto market is volatile, and the price can change drastically.
Is Algorand a Cryptocurrency?
Yes, it is. The Algo is a cryptocurrency of the Algorand blockchain.
Right after the 2018 crypto market plunge, there was great doubt whether crypto was even a valid concept. Three Belgians set out to tackle what they believed to be the greatest hurdle for crypto adoption: security.
Today, after years of research and development as well as raising $450,000 in the most successful crypto wallet pre-order campaign, NGRAVE reaches a new milestone: the global shipping of its flagship product ZERO, the coldest wallet.
ZERO is not only the first EAL7 certified crypto hardware wallet, but is also the world’s first financial product to achieve the highest formal level of security.
NGRAVE is a Belgian blockchain and digital asset security provider making highly secure and user-friendly products.
“Having experienced a USD 10 million hack with my previous blockchain project, I asked my NGRAVE co-founders a simple question: ‘Where can one store their crypto and be able to sleep at night?’ We had no answer. So we decided to build it ourselves,” explains Xavier Hendrickx, NGRAVE’s CTO.
NGRAVE benefits
NGRAVE offers crypto users a complete product suite. ZERO, the offline touch-screen hardware wallet allows users to securely store and transact their crypto. GRAPHENE, the stainless steel encrypted backup solution ensures that users never lose their keys. It is not only made to withstand extreme conditions but also designed to be recoverable in the event of a loss.
“Sales reflect our clients’ appreciation of GRAPHENE’s added security layers, with 85% opting for the COMBO,” shares Edouard Vanham, Co-founder & COO.
The heart of the solution is the NGRAVE Perfect Key. “When looking into existing key creation processes, we realized there were serious security gaps. So we reinvented the way keys are generated and also overcame the limitations of today’s widely used mnemonic wallets,” adds Ruben Merre, Co-founder and CEO of NGRAVE.
There’s also the firm’s LIQUID product, a convenient mobile app that connects users in real-time to the blockchain without ever exposing their private keys.
“What sets NGRAVE apart is the seamless integration of these three products, never compromising on security, always achieving a frictionless experience,” explains Jean-Jacques Quisquater, the second reference Bitcoin whitepaper.
Subspace Labs, a distributed research and development company behind the Subspace Network, today announced the appointment of Dr. David Tse to its advisory board. Tse, who is also a distinguished professor of electrical engineering at Stanford University, brings extensive expertise as a leading researcher in the areas of blockchain scalability, security, and sustainability.
A scalable platform for storage and computation, the Subspace Network is designed to fully resolve the blockchain trilemma.
Already having incorporated many of Dr. Tse’s ideas into the design of the Subspace Network, Subspace Labs will now work with him more directly to properly implement key elements of his research.
The blockchain trilemma is a term coined by Vitalik Buterin to describe the challenge of creating a scalable, decentralized, and secure blockchain – stating that only two out of these three features may realistically be achieved. Subspace provides a solution to this problem by combining its own novel consensus algorithm with a host of cutting-edge academic proposals Dr. Tse has co-authored, which allow for maximizing vertical and horizontal scalability without compromising security or decentralization.
“It’s such a privilege to work with a researcher as brilliant as David; we are so excited to have him personally involved in the application of his ideas,” said Jeremiah Wagstaff, Co-Founder & CEO of Subspace Labs. “Since auditing David’s graduate course on scaling blockchain last year, much of his research has been built into Subspace, now we can be sure it’s implemented correctly.”
“While Subspace is an interesting protocol in its own right, it has been even more exciting to see how they have adapted and extended the body of work I’ve contributed to,” said Dr. David Tse. “I look forward to collaborating more closely to help realize the dream of a secure, scalable, and decentralized blockchain!”
Subspace Labs was founded in 2018 by Wagstaff and Nazar Mokrynskyi with a shared vision of creating a scalable base layer for Web3, where users can control their data, and the Internet can work without relying on centralized servers or data centers controlled by tech monopolies. Wagstaff and Mokrynskyi set out to build a platform that would make it easy for anyone to build decentralized applications at scale.
After years of research, largely funded via a grant from the US National Science Foundation, Subspace Labs raised a $4.5M seed round in June 2021 led by Hypersphere Ventures and Stratos Technologies. Currently, the Subspace blockchain is under active development and is built with Parity Substrate, the same framework used to build Polkadot. An early version was funded by a Web3 Foundation Grant.
Consensus in Subspace is based on storage capacity. Farmers (not miners) store as many provably unique segments of the blockchain history as their disk space allows through Proofs-of-Archival-Storage (PoAS), a novel consensus algorithm described in their technical white paper.
PoAS is specially designed to resolve the Farmer’s Dilemma, a mechanism design challenge that limits the scalability of Proof-of-Space blockchains like Chia or Filecoin. Since farming is based on storage, it is eco-friendly and accessible to anyone with a hard drive. Subspace further organizes farmers into a permanent distributed storage service, inspired by the BitTorrent Network, which allows the Subspace blockchain to bloat massively without sacrificing decentralization.
Resolving the Trilemma
Dr. Tse’s research resolves a key aspect of the blockchain trilemma by allowing for secure scaling with decentralized participation in consensus but it does not account for the problem of decentralized storage and synchronization of the blockchain history, often referred to as blockchain bloat.
This problem stood out as a central issue during the Bitcoin Civil War and is a key reason why Ethereum has since resisted attempts to increase on-chain transaction throughput. Because Subspace’s PoAS consensus already handles blockchain bloat, when combined with Dr. Tse’s research, it is the first protocol that is able to fully resolve the blockchain trilemma.
Subspace is a layer zero protocol interoperable with any layer one, allowing it to serve as an infrastructure layer for the Web3 ecosystem. Based on years of original R&D, Subspace aims to be the first protocol to resolve the blockchain trilemma, providing an open, scalable platform for storage and compute.
Currently, Subspace supports Polkadot and Kusama, with more networks coming soon.
Crypto adoption and growth has continued at pace in 2021 as the amount institutional investors have invested in the industry this year is already 30% higher than the amount they invested in the whole of 2020. This was revealed by a report released by popular digital asset manager CoinShares.
Bitcoin remains number one
The Coinshare’s report, released on November 1, revealed that investment into the crypto industry in the preceding week was around $288 million which took the total amount of inflow the space has seen this year to $8.7 billion —a figure that is 30% higher than all what was seen last year.
According to the report, Bitcoin continues to top the chart of crypto assets with the highest institutional inflows. Last week alone, $269 million was invested into the flagship digital asset by institutional investors.
Though this current number pales significantly against what was seen a fortnight ago when investments into BTC was over $1 billion due to the approval of a Bitcoin futures ETF by the United States Securities and Exchange Commission (SEC).
Altcoins performance also picks up
On Altcoins, CoinShares investment strategist James Butterfill wrote that this asset class also performed admirably well.
Ethereum, for instance, was able to finally see some level of inflows after it had three straight weeks of outflow. Per the report, the total institutional inflow into Ethereum this year is now $1 billion. The value of the second largest crypto asset by market cap has since set a new ATH following in the footsteps of its more illustrious counterpart.
Other digital assets like Solana, Cardano, and Polkadot saw inflows totaling $15 million, $5 million, and $6.2 million respectively.
Speaking on the behaviors of investors, it was noted that “investors are currently preferring single-line exposure and are becoming more discerning over their altcoin exposure” because “multi-asset investment products saw outflows totaling a record US$23m, in what is now a 3 week run of outflows.”
Crypterium, a cryptocurrency wallet app with over 400,000 clients in over 170 countries, has recently been registered by the UK’s Financial Conduct Authority (FCA) to provide cryptocurrency services to UK citizens and companies (registered firm), one of only a small handful of companies to have passed the registration process from almost 200 that have so far applied.
This registration ensures that as Brexit measures kick in, Crypterium can continue to provide its crypto wallet services, including its crypto Visa cards and exchange functions, to practically everybody in the UK.
Not only that, but Crypterium’s B2B offering can provide the same level of functionality to UK businesses. FCA crypto registration is an extensive, detailed process, taking almost 18 months of policies and processes assessment before approval is granted.
“Becoming an FCA-registered firm is a fantastic opportunity. From now on, interested parties will view Crypterium in a new light, a company that puts user security and accessibility first. Not only do we provide an excellent set of services, but now we can show that these are done with full compliance of some of the toughest assessment criteria.” – Crypterium CEO, Steven Parker
Cryptocurrencies have forever changed the way we think about personal finance and doing business. For many years, they have caused controversy while being criticized, accompanied by failures, generating crime, yet giving an opportunity to earn well.
Despite the numerous advantages, digital money has a number of disadvantages as well. Naturally, they are common to all financial markets, but in the case of using cryptocurrencies, the risks are doubled due to their specific features.
Arguments Against Cryptocurrency
Today, a great number of news channels daily cover news about cryptocurrency, and the definitions of “mining,” “blockchain,” “bitcoin” are included in the everyday speech of people who do not always even understand their essence. In other words, cryptocurrency is becoming an everyday thing nowadays. The growing popularity and sometimes the value of certain currencies attract great public interest.
Cryptocurrencies are based on blockchain technology. This is a set of consecutive records that allows users to track all operations taking place on the network, from the most recent ones to the very first transactions. This information is not confidential: each participant of the network can always check any operation. To view a Bitcoin transaction, you can use online Block Explorers to get information about a specific Bitcoin address, transaction hash, or block number by simply entering it in the search box.
However, at the same time, cryptocurrencies are much more anonymous than traditional money. The fact is that it is almost impossible to identify the owner of the wallet conducting some transaction. To use cryptocurrencies, one does not need to provide one’s name, passport details, or other personal information.
The main purpose of digital money is considered to be the anonymous purchase of goods and services, but so far, this functionality has been in little demand. According to many crypto experts, at the moment cryptocurrencies are more likely to act as profitable long-term or short-term investments due to the instability of their exchange rate.
Being a mathematical code and existing only in digital form, cryptocurrency is a next-generation means of payment. The first works of this kind appeared back in 1998, and in 2008 a person or a group of people under the name of Satoshi Nakamoto published a document transmitting the idea of the world’s first full-fledged crypto asset — Bitcoin.
Cryptocurrencies have already become an unprecedented yet controversial phenomenon of the twenty-first century. Despite the undoubted advantages of digital money, there is still a flip side of the coin. Let’s take a closer look at the downsides of crypto.
The main significant disadvantage of cryptocurrencies is the long time required for transactions processing (e.g., in the Bitcoin network, it takes on average about 8-10 minutes to complete a transaction). To solve this problem, the so-called Bitcoin forks were carried out; think of Litecoin (where the processing time was reduced to 2 minutes 40 seconds). Therefore, it is more convenient to use these systems for payments than for speculation.
The next weak point is reliability. Despite the complexity of the system, hypothetically, blockchain can be rewritten. This is called a 51% attack: if more than half of the market players unite, they would be able to create the longest parallel chain and rewrite all the information in the blockchain. However, for Bitcoin, this problem is hardly relevant because there are many market participants who keep savings in this cryptocurrency, so they are not interested in its destruction.
Finally, the threat is also posed by ordinary cyberattacks, including those on cryptocurrency exchanges. As a result of such attacks, participants’ funds are withdrawn from the exchanges, and it’s not always possible to return them. No one acts as a guarantor of the safety of the cryptocurrency. In addition, you can lose the actual “wallet” — that is, the login credentials: one could forget one’s password or ID or lose a smartphone. However, then no one will ever use the lost crypto coins.
Arguments For Cryptocurrency
Cryptocurrencies have competitive advantages in comparison with other payment methods. The first one is the use of blockchain technology, which allows users to transfer and store information. This is crucial: money in economic theory represents the memory that the counterparty acted in good faith, fulfilled its obligations, and received a reward for it. If the counterparty has money, then it is reliable: money has preserved the memory of its reliability. Blockchain technology performs the same function, although cryptocurrencies reflect the memory of everything that happened to them. Therefore, blockchain and cryptocurrencies have a huge potential in the field of simplification of contractual procedures with the help of smart contracts.
A smart contract is a contractual condition that is written digitally into the blockchain. The parties who sign it, when executed, must exchange certain assets, such as currency, shares, etc. This decision cannot be annulled or substituted. The program tracks the fulfillment of conditions automatically, so people do not participate in the process and do not control it. In other words, smart contracts are executed directly, and intermediaries are excluded.
Cryptocurrencies are also convenient in executing cross-border transactions without financial intermediaries. In addition, digital money has great potential in crowdfunding and attracting investments through ICO (Initial Coin Offering) when investors are invited to buy a fixed amount of new cryptocurrency.
Another promising direction for the development of the crypto economy is decentralized finance, which gives users full control over their money, without the participation of governments and banks. Now it is a small world in the financial sector, which is being built over cryptocurrencies, and so far it has not been affected by regulations.
Whatever drawbacks and crypto-winters are experienced by digital assets, they will not collapse to zero. Moreover, in the long term, crypto coins are likely to become more expensive. There are fundamental reasons for such confidence:
– Limited emission. There will never be more than 21 million Bitcoins. Now 18.5 million have already been mined, of which several million have been lost forever. However, even after the last Bitcoin is mined (according to the calculations it will probably happen around 2140), there is a high probability that the demand for this asset will persist, which means that its price will go up.
– Mining. Mining new coins is a very energy-intensive activity. The more expensive it costs to mine one Bitcoin, the higher the price at which miners will be willing to sell it.
– Decentralization. This is a unique property and advantage of cryptocurrencies as they are not issued by anyone.
– Developed infrastructure. For instance, in 2021, Bitcoin has already acquired legal status in a number of developed countries — that is, no one is going to ban it. Moreover, among the companies that already work with Bitcoin today are those with billion-dollar infrastructure: AT&T, Microsoft, computer manufacturer Dell, Burger King, Starbucks, etc.
– Big players. The fall of Bitcoin is not beneficial to large players, the so-called “whales,” who have invested tens of billions of dollars in BTC.
– Growing acceptance. Bitcoin and other digital assets are increasingly expanding their presence in the real economy with millions of people using it every day. Payment services launch options to pay not only with Bitcoin but also with other popular cryptocurrencies, which makes them available to hundreds of millions of users around the world. For example, there is a successful case of implementing blockchain technology into the agriculture section (the Australian agtech company AgriDigital). It allows users to connect to the global grains industry. Users can take control of logistical, risk, and customer issues. Read more about implementing blockchain technology in the Agriculture and Food Industry, and Healthcare.
Conclusions
Capitalization of the cryptocurrency market is still highly dependent on the attitude of regulators, but the decentralized nature of most projects gives the market stability and independence from external factors.
The variety of crypto projects is great: with a general drop in capitalization, there will be coins that will show growth and remain promising in the future. As the crypto market “matures,” it will become less volatile and more resistant to certain stressful scenarios.
Cryptocurrency is something new to the modern economy, which, according to forecasts, will continue to develop. Despite all the pros and cons of crypto money, it is very similar to the real currencies we are familiar with. Crypto has a number of features that allow it to gain momentum and popularity, making us believe that the future is somewhere nearby.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
(@el33th4xor) 
