Hedge Funds to Financially Empower Blockchain Startups While Incubators Implement Subtle Refinements to Them

Hedge Funds to Financially Empower Blockchain Startups While Incubators Implement Subtle Refinements to Them

BlockSafe seeks $27M, Bitmain sponsors NBA team, Swiss Blockchain Incubator to raise $100M, $15M for MakerDAO, Travis Kling plans a $100M hedge fund

  • Cybersecurity solutions company, BlockSafe, initiated the presale of its token aiming to cobble together $27 million. BlockSafe aspires to use this fund to commercialize and market their blockchain security solutions, and reincarnate the trust and security in this technology.
  • AntPool, run by Bitmain, to sponsor the Houston Rockets, a Texan NBA team, and also invest $500 million in the state’s economy. The sponsor amount remains unspecified, however, the deal’s duration is set for the whole of 2018-2019 season.
  • Crypto Valley Venture Capital to launch the first blockchain incubator in Switzerland and aims to raise $100 million. They launched the initial 'Genesis Hub' incubator in Zug, the heart of Swiss crypto valley. There are also plans to replicate this incubator in different parts of the world to create a global network in the years to come.
  • The $300 million hedge fund, a16z, invested $15 million in MakerDAO hence buying 6% of the total MKR tokens. According to Katie Haun, general partner at Andreessen Horowitz, 'the future economy would belong to decentralized stablecoins'.
  • $100 million hedge fund in the mind of Travis Kling, a former executive at Steven Cohen’s Point72 Asset Management. As Bloomberg predicts, the fund may go live as soon as  2 weeks from now. Named ‘Ikigai’, the fund will be backed by capitals from anonymous partners.

Maker

MKR
Price
747.25 USD 2.17%
0.08543320 BTC -1.79%
Volume, 24h
536,456 USD
0.00%
Marketcap
746,958,200 USD
0.27%
Emission

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MakerDAO Launches Its New DAI Token Today, Multi-Collateral Dai (MCD)

MakerDAO, the organization behind the DAI stablecoin, has just launched a new DAI token now. Named as Multi-Collateral Dai (MCD), the new cryptocurrency will also be a stablecoin in the same way that the old DAI was. This new token will be backed by several kinds of assets, a contrast with the single-collateral DAI (SCD), […]
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Maker Price Analysis MKR / USD: Positive Dynamics

Maker has a bullish short-term and medium-term trading outlook The four-hour time frame shows a large inverted head and shoulders pattern The daily time frame shows an even larger inverted head and shoulders pattern Maker has seen a rapid change to its short and medium-term trading status, with the cryptocurrency adding over 25% to its trading value so far this month. Towards the end of October, the MKR / USD pair started to receive buying interest again, after enduring four-consecutive months of heavy trading losses. October’s bullish monthly reversal candle hinted that a medium-term price floor may have been established, while the 45% trading gains since October 25th appear to have confirmed it. The four-hour time frame shows that an inverted head and shoulders pattern has been formed, with the bullish pattern holding substantial upside potential. The daily time frame shows that the cryptocurrency is trading above its 200-day moving average for the first time since July and has rallied by over 38% since reclaiming its technically bullish status. A large inverted head and shoulders pattern is also present on the daily time frame, with the $800 resistance level the neckline of the bullish reversal pattern. A rally above the $800 level would be extremely bullish for the cryptocurrency, as the inverted head and shoulders pattern on the daily time frame has an upside projection that would add around 90% to the value of the MKR / USD pair. According to the latest sentiment data from TheTIE.io, the short-term sentiment towards Maker is bullish, at 66.00 %, while the overall long-term sentiment towards the cryptocurrency is neutral, at 56.00%.   MKR / USD H4 Chart by TradingView Upside Potential The four-hour time frame shows that a large inverted head and shoulders pattern is forming, with the $720 level the neckline of the large bullish pattern. Key technical resistance for the MKR / USD pair above the $720 level is currently located at the $800 and $850 levels.   MKR / USD Daily Chart by TradingView Downside Potential The four-hour time frame is showing that the MKR / USD pair has strong short-term technical support around the recent swing-low, at $565. Key technical support for the MKR / USD across the medium-term is located at the $500 and $438. Summary Maker has strong upside potential over the medium-term, if buyers can trigger the large bullish inverted head and shoulders pattern on the four-hour and daily time frames. Going forward, the MKR / USD pair could add over 90% to its trading value if the $800 level is overcome.   For a brief outline of Maker and MKR, check out our coin guide here. Maker ChartChart byCryptoCompare baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[ scripts.length - 1 ]; var cccTheme = { "General":{"borderWidth":"0px","borderColor":"#FFF","showExport":true}, "Tabs":{"borderColor":"#FFF","activeBorderColor":"rgba(28,113,255,0.85)"}, "Chart":{"fillColor":"#222","borderColor":"rgba(28,113,255,0.85)"}, "Conversion":{"lineHeight":"10px"}}; (function (){ var appName = encodeURIComponent(window.location.hostname); if(appName==""){appName="local";} var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl+'serve/v3/coin/chart?fsym=MKR&tsyms=USD,EUR,CNY,GBP'; s.src = theUrl + ( theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); #ccpw-ticker-24523 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24523 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24523 a.tabperiods.tabperiods_active, #ccpw-ticker-24523 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24523 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24523 .coin-container:after, .ccpw-container_four #ccpw-ticker-24523 .coin-container:after {border-color:#ccc !Important;}   The post Maker Price Analysis MKR / USD: Positive Dynamics appeared first on Crypto Briefing.
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MakerDAO launches Multi-Collateral Dai as MKR holds steady

MakerDAO announced the release of Multi-Collateral Dai (MCD). The move is going to bring a wide range of new features to the Maker protocol, including Dai Savings Rate (DSR) and additional collateral asset types. Despite the major announcement, MKR’s price remains stagnant.  The new Multi-Collateral Dai Over a month ago, MakerDAO disclosed a change in the terminology of its products and services. Collateralized Debt Position (CDP) was renamed Vault while Dai (Single-Collateral Dai) was replaced with Sai, and MCD-generated Dai was named Dai. The idea was to get users familiar with the new developments that were going to be released.   Now, anyone can upgrade their Sai to Dai using the Migration app developed by the firm. A number of cryptocurrency exchanges, including Coinbase, announced their support for the new Dai. And, have offered to make the upgrade from Sai to Dai automatically.  MakerDao’s new terminology. Source: MakerDao With the release of the new Multi-Collateral Dai, the decentralized autonomous organization will offer a range of new services to its users.  MCD brings with it the much-anticipated Dai Savings Rate (DSR) mechanism. This allows Dai holders to lock up their tokens in a smart contract and earn additional Dai in the meantime. Although MKR holders will decide the initial rate, the risk management lead at the Maker Foundation, Cyrus Younessi, believes that it would likely be around 2 percent.  According to Younessi: “Given the absence of any empirical data, it is difficult to select a precise starting DSR value. However, a DSR of 2% is likely to be competitive with the broader DeFi ecosystem, which currently offers a ~6% (and dropping) savings rate on Sai.” Mockup of the Dai Savings Rate dApp. Source: MakerDao Additionally, the upgrade introduces a wider range of collateral assets, which were previously limited to Ethereum only. At the moment, the Maker community is evaluating seven cryptocurrencies, including  Augur (REP), Basic Attention Token (BAT), DigixDAO (DGD), Ethereum (ETH), Golem (GNT), OmiseGo (OMG), and 0x (ZRX). Out of all of these tokens, the first two being considered for their low risk of integration are BAT and ETH.  Despite the positivism seen across the market regarding the Multi-Collateral Dai, Udi Wertheimer, a bitcoin developer, criticized the move to back Dai with “illiquid shitcoins.” Wertheimer said: “Imagine you’re not going through life constantly reading crypto twitter and smart contracts. You believe DAI is a stablecoin backed by ETH (fairly liquid and a bit less volatile than other shitcoins). You go to an exchange to buy some. Oops! Here’s a [Basic Attention Token]-backed shitcoin instead.”  As more people in the crypto community start to understand the impact of the recent announcement, MKR is holding steady without much volatility.  MKR technical analysis Over the last few weeks, MKR saw its price rise over 67 percent from a low of $412 on Sept. 24 to a high of $690 on Nov. 11. The move was succeeded by a 19 percent correction that took this cryptocurrency down to $561, four days later.  Now, the 50 and 61.8 percent Fibonacci retracement levels appear to be containing the price of Maker as it awaits for a spike in volume that will determine where it would head next.  Based on its 12-hour chart, MKR is trading in a no-trade zone. The lower and upper Bollinger bands, sitting at $601 and $690, respectively, define this range. Trading within these support and resistance levels poses high-risk exposure. This is a result of the inability to determine in which direction the trend will result. As the Bollinger Bands squeeze on MKR’s 12-hour chart, the odds for a breakout increase. Thus, it will be wiser to wait for a clear move outside of this range before entering a trade. On the upside, if Maker closes above resistance it would signal a move up to the 78.6 percent Fibonacci retracement level, at $794. However, a spike in the selling pressure behind this crypto could take it to close below the support level. If this happens, MKR would likely plummet to the 38.2 percent Fibonacci retracement level, at $541.  MKR/USD by TradingView Moving forward The recent announcement by MakerDAO is generating significant buzz around the community. Even Reuters ran a story dedicated to how Dai is planning to “change the stablecoin game.” However, there are those who believe that the move to back Dai with a number of cryptocurrencies that present high levels of illiquidity could be extremely dangerous. As there are different sentiments about the Multi-Collateral Dai, MKR could be preparing to make a significant price move soon. On the upside, it could surge to nearly $800 while on the downside, it could plunge to $541.  The post MakerDAO launches Multi-Collateral Dai as MKR holds steady appeared first on CryptoSlate.
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