Crypto News 01/07: Max Keizer’s Bitcoin price target for this year remains at USD 220,000 with news from Ethereum, Ripple, Binance, USDC, NFT, Telcoin, Element, Tracer DAO, Cardano, tZeRO, Umbrella
The comment indicates that Max Keizer is maintaining a Bitcoin price target of $ 220,000 this year for a $ 22 billion hedge fund entering the crypto market. Here are some highlights from the crypto market.
Bitcoin supporter, Max Keizer said His price target for this year remains at $ 220,000.
Keizer added that bitcoin’s volatility is inherent. But on higher time frames and over the past 10 years, BTC is still seeing 200% year-over-year growth.
Speaking of the recent decline, specifically Elon Musk’s impact on the market, Keizer said these corrections were normal price movements and “nothing special”.
According to Keizer, BTC has seen more than 15 major corrections in the past 10 years and is currently only a moderate correction.
He also compared BTC to Apple stocks in the late 1990s when prices plummeted. Back then, investors had a negative view of Apple. But in the long run it is a good investment. Amazon shares have also seen a 60-70% correction and are now one of the most valuable companies in the world. .
Billionaire George Soros’ fund “gives the green light” for Bitcoin
Soros Fund Management, one of billionaire George Soros’s mutual funds, is currently quite open to Bitcoin transactions.
According to TheStreet, Dawn Fitzpatrick, Chief Investment Officer of Soros Fund Management, has given the green light to trading Bitcoin and possibly other cryptocurrencies in the past few weeks.
George Soros has given his team the green light to start trading Bitcoin.
This can be positive or negative depending on how you acthttps://t.co/fq4LsE77gx
– Pomp (@APompliano) June 30, 2021
In addition to being open to Bitcoin trading, Soros Fund Management is also able to negotiate the repurchase of shares in blockchain companies.
According to an analysis by Cryptoquant, while the Ethereum price continues to show a range, the data shows that ETH is in a long-term lockdown with large inflows of money into ETH 2.0 deposit contracts. More than 5% of the circulating supply is blocked and therefore illiquid.
Combined with the sideways movement of the ETH reserves (across all exchanges) and the falling market inflows, it seems likely that the price will continue to fluctuate in the range. However, the long-term outlook is still quite positive, although prices continue to fluctuate at important levels.
Ethereum is still locked in the long term
– CryptoQuant.com (@cryptoquant_com) July 1, 2021
SBI Remit, a subsidiary of the banking giant SBI, recently teamed up with the Japanese bank Hamamatsu Iwata to build an international transfer platform based on RippleNet.
The SBI press release emphasizes that the number of workers coming to Japan from other countries has increased significantly. A partnership was therefore set up to meet their international referral needs.
SBI Remit, a subsidiary of banking giant SBI, recently announced its collaboration with a major Japanese bank – Hamamatsu Iwata. This partnership aims to build an international remittance platform based on RippleNet. https://t.co/vPvaRFD9LK
– Michael (@ val5linx) July 1, 2021
Hamamatsu Iwata Credit Bank already operates an international remittance platform, and with this latest partnership, SBI Remit will now help the bank expand overseas.
Ripple unlocks 1 billion XRP every month
Until then, Ripple will continue to unlock 1 billion XRP per month through 2 transactions with 500 million XRP each.
Ripple Unlocks 1 Billion XRP | Source: Whale Alert
According to Messari, USDC grew much faster than Tether (USDT) in 2021 and is becoming the dominant stablecoin on Ethereum thanks to its popularity in DeFi.
Research by the analysts revealed that the demand for USD coins has increased enormously and has “snapped” a large part of Tether’s market share this year.
Researcher Ryan Watkins predicts that this could lead to Tether’s market share in Ethereum falling below 50% in the coming weeks.
In the coming weeks, it is very likely that USDT’s share of the stablecoin supply on Ethereum will drop below 50% for the first time.
USDC is quickly becoming the dominant stablecoin on Ethereum, in large part due to its growing role in DeFi.
– Ryan Watkins (@RyanWatkins_) June 29, 2021
He added that more than half of the total USDC supply is now in smart contracts, or about $ 12.5 billion.
Twitter is giving away 140 non-fungible tokens (NFTs) through the rarible marketplace.
The social media platform shared a series of tweets with a number of different images featuring the Twitter logo and the Tamagotchi, a virtual pet.
140 free NFTs for 140 of you, besties pic.twitter.com/0Pm0tNhIRg
– Twitter (@Twitter) June 30, 2021
Last week, Rarible announced that it was raising capital to hire more staff and launch its marketplace on the Flow blockchain.
Binance has restore supports GBP withdrawals via Faster Payments, the UK’s high-speed banking network. Deposits in pounds are suspended for bank cards and faster payments.
The crypto exchange suspended GBP withdrawals “for maintenance” on Monday, 2 days after the Financial Conduct Authority prevented Binance Markets Limited, the UK company it acquired from Binance in 2020, from operating in the country.
Telcoin has announced the provision of a “V3” version of its proprietary decentralized financial platform with two new products, the Send Money Smarter (SMS) Network and TELxchange.
In addition to being an update, V3 marks a major development milestone for Telcoin and begins a journey focused on the evolution of financial inclusion.
Not only does Telcoin provide a low-cost 24/7/365 money transfer network with instant global payments, it also decentralizes the platform’s liquidity engine for users.
Launch of the world’s first user-owned, decentralized financial platform! V3 launches two core layers of the Telcoin platform, two #DeFi Products and much more. Send #MoneySmarter and #Pay yourselfhttps://t.co/9Ijp9rI0TO pic.twitter.com/r08YIogLDg
– Telcoin (@telcoin_team) June 30, 2021
The Decentralized Financial Protocol (DeFi), Element, began on the Ethereum mainnet to offer a higher fixed rate of return than existing platforms.
in the notification On June 30th, Element Finance announced that after almost a year of research and development, it was officially deployed on the Ethereum mainnet.
The protocol aims to deliver a high fixed rate of return for DeFi while maximizing capital efficiency. Users can buy BTC, ETH and USDC at a discount without being locked for a fixed term.
News Tracer DAO
Tracer DAO decentralized derivatives platform has successfully raised $ 4.5 million to expand its product and development team.
The project hopes to bring innovative derivatives to the market for “any market with an oracle price feed”.
We’re excited to announce that Tracer DAO raised $ 4.5 million in a strategic round! Supported by @hiFramework, @DigiAssetFund, @ Maven11Capital, Apollo Capital, distributed worldwide, @TheLAOOOfficial, @GSR_io, @bairesdao and @efrontier_io.
Continue reading: https://t.co/7Zyri7iRUw
– Tracer (@tracer_dao) June 29, 2021
Many large crypto venture capital firms participated in this funding round, including Framework Ventures, Maven 11, DACM, and Apollo Capital. Investors share 10% of the project’s governance token offering.
IOHK announced that Cardano (ADA) is now integrated into Nexo’s financial services.
Customers can add ADA to the Nexo Wallet by purchasing it through the Nexo Exchange. The ADA deposit and withdrawal process is temporarily unavailable, but this feature will be incorporated in the near future.
– input output (@InputOutputHK) July 1, 2021
tZERO, an alternative security token trading system, announced a partnership with real estate crowdfunding firm NYCE Group to tokenize $ 18 million worth of shares in the company.
NYCE stock will be tZERO’s first publicly traded property since launching the ASPN product in August 2020 that represents partial ownership of a ski resort in Colorado.
According to the notification On June 30, tZERO will support secondary trading of NYCE token common stocks, subject to regulatory approval.
Umbrella network notification, the project was officially operated in the BSC Mainnet.
Umbrella on BSC can benefit from lower operating costs, around 1% compared to Ethereum, and pass these cost savings on to end users.
This rollout will allow Umbrella to work with various partners to begin integrating the Oracle rack feed for the project.
$ 22 billion hedge fund enters the crypto market
The hedge fund Point72 Asset Management of New York billionaire Steven Cohen is supposed to search “Cryptocurrency Manager”.
Cohen, also known as the “Hedge Fund King”, founded Point72 in 1992 and has assets of around 22.1 billion US dollars.
Point72 seeks managers related to the cryptocurrency sector as the company prepares to enter the market.
According to Bitcoin Magazine