New Opportunities for Investors and Missed Chances (Investment Digest, Oct 17)

Dragonfly Capital Partners reveals a $100M fund, ConsenSys invests $15M to Adhara, Blockfolio raises $11,5M, SportyCo to buy Hull City FC for $58.9M, US universities invest billions in crypto funds, Genesis Vision partners OKEx, CoinCola partners Dash, Nouriel Roubini's mistake

  • A crypto-centric venture capital startup, Dragonfly Capital Partners, reveals a $100 million fund reserved for digital assets. The startup intends to invest in three asset types namely crypto funds, tech startups, and DApps. Bitmain and OKEx are among its investors.
  • After the USDT price fall, Tether Limited, the issuer of the tokens, upholds in a statement that the stablecoin is sufficiently backed by USD. The coin moved faintly up in yesterday’s market but it remains under one dollar (as of its yesterday’s trading price).
  • ConsenSys invests $15 million to startup Adhara. According to Joseph Lubin, his firm invested in the startup due of its track record of delivery. Banking innovators Julio Faura, Peter Munnings, and Edward Budd are the creators of Adhara. The company intends to bring privacy to central banks.
  • Blockfolio, a free cryptocurrency tracker app, aims to expand from being a data provider into an intermediary. $11.5 million was raised in a Series A funding round. Companies who invested include Pantera Capital, DCM Venture, BitMEX, Huobi, and Block72.
  • SportyCo is gearing up to put in £45 million, an equivalent of $58.9 million to buy Hull City football club. By uniting institutional investors with the fan base, they are sure to reach a stable Hull City AFC.
  • A report released on 10 October, indicated that prominent US universities such as MIT, Harvard, and Stanford among others, have invested in one or more cryptocurrency funds. Harvard is said to have made the biggest investment amounting to $39.2 billion.
  • BK Global Consortium, a Singapore firm, endowed $353 million or 400 million won to Bithumb. Kim Byung-gun, lead of BK Global, plans to start Bithumb DEX, which is similar to Binance and Coinbase. Releasing stablecoins are also a part their expansion plan.

Partnerships

  • Genesis Vision teams up with OKEx. By creating an account on Genesis Vision’s platform, an investor can be a manager and begin their own investment curriculum. Because of the partnership, Genesis Vision will have access to the assets listed within OKEx. OKEx is considered the second largest exchange.
  • CoinCola takes-off in Venezuela. The p2p, OTC platform collaborates with Dash to expand the accessibility of cryptocurrency within the country. To commemorate the partnership, there will be no trading fee for Dash transactions until 31 October.

Bonus Track

  • Nouriel Roubini failed to foresee and join Bitcoin’s upsurge. A 2013 tweet by the economist, who predicted the market crash of 2008, was unearthed. In the tweet Roubini mentions BTC price at under $58.

BTC

4,003 USD
-1.37%

DASH

90.60 USD
-3.44%

USDT

1.00 USD
0.00%

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Tron Based ‘Stable Coin’ to Start Trading At Huobi and Okex Exchange

Okex and Huobi Global have added support for USD Tether pegged to the US Dollar built on Tron. Tron Foundation built the ‘stable coin’ collaboration with Tether. Currently, the two Exchanges support three stable coins markets USDT-Tron (TRC20), USDT-OMNI, USDT-ERC20 (Ethereum). The token will be launched on 30th April 2019 on the Okex and Huobi Global Exchanges. According to the press release by Okex: In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders. …It has a TRON deposit address and uses the TRON network for depositing and withdrawal. Rewards for Early Adopters and Tron’s Growth The annual percentage return (APR) of the USDT-TRON token has been designed to give out rewards for its early adopters. The initial APR is 20% which will, however, reduce with time. Nevertheless, the program is supposed to roll out investments for a total of 100 days. The total amount of incentives will be $20 million. The incentives will be rewarded in USDT-TRON only. Justin Sun has implored the users of the Exchanges to adapt to swap from USDT-OMNI – USDT-TRON. #Hodl USDT-TRON to earn initial 20% APR in USDT-TRON. 100 day campaign. $20M initial budget no hard cap. Just sayin'. 😎 $TRX $BTT pic.twitter.com/jyo7QcrtbE — Justin Sun (@justinsuntron) March 21, 2019 The Stable coin will be available on major exchanges, and the reward programs are lucrative. Therefore, the number of transactions on the Tron Network would increase significantly. Tron has built a vibrant ecosystem for Dapps and issuing digital asset. The move will foster the growth of Tron. It will also help the exchanges take advantage of the transaction capabilities of Tron which is considerably cheaper than Ethereum currently. The returns proposed by ARP are highly lucrative. Will you swap your stable coins to earn the rewards?  The post Tron Based ‘Stable Coin’ to Start Trading At Huobi and Okex Exchange appeared first on Coingape.
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Prominent Analyst: Bitcoin (BTC) is Likely to Surge to 400k, Does This Mean the Bottom is in?

Bitcoin’s price action over the past year and a half has been quite the rollercoaster, with many investors incurring nearly instant wealth in late-2017, followed by tremendous losses for those who continued to hold their Bitcoin or other crypto investments. Despite this, those who held and are still holding are doing so either because of a fundamental belief in the technology, or at the very least a belief that the markets will eventually surge back to, or above, their previously established all-time-highs. That being said, recent comments from a prominent analyst about the potential Bitcoin’s price has to surge significantly higher will certainly be reassuring for embattled crypto investors who have been discouraged by the recent market conditions. Bitcoin (BTC) Drops to $4,000 as Support Level is at Risk of Being Broken At the time of writing, Bitcoin is trading down over 1% at its current price of $4,015, just a hair above its recently established support level at $4,000. Yesterday, Josh Rager, a popular cryptocurrency trader on Twitter, explained that the lack of buying pressure above $4,000 is likely to lead BTC’s price to $3,500, which may be reached soon if the crypto’s bulls are unable to keep Bitcoin’s price above $4,000. “$BTC Weekly Chart. Gandalf is holding $BTC below the mid $4,200 level. Bitcoin shall not pass the current resistance. So my target for the next drop has an aim at previous support near mid $3,500s,” he explained. $BTC Weekly Chart Gandalf is holding $BTC below the mid $4,200 level Bitcoin shall not pass the current resistance So my target for the next drop has an aim at previous support near mid $3,500s pic.twitter.com/BGUWMmAl4V — Josh Rager (@Josh_Rager) March 20, 2019 Naeem Aslam, the chief markets analyst at Think Markets U.K., recently spoke about the importance of the $4,000 level, noting that it will set the trend for which direction the markets head next. “Questions are being asked constantly when it comes to Bitcoin’s battle with the $4000 mark. The result of this battle sets the tone for a bullish or bearish trend,” he explained, further noting that this price level has become a “matter of death or life for crypto traders.” Could Bitcoin Surge to $400,000 Next? Although Bitcoin’s instability around its current price levels does seem to be significant in the short term, in the long term it may be very insignificant, as Aslam believes that BTC could eventually surge as high as $400k. “I personally believe that each Bitcoin can go up as much as $400K and if history repeats itself, this number is not a fool’s paradise. This is a simple math calculation: approximate percentage projection of the price which we experienced during the last bull run,” he bullishly explained. Keeping that in mind, for traders who are waiting to buy the bottom, the risk / reward ratio simply doesn’t make sense. Ryan Selkis, a popular figure within the crypto industry, spoke about the absurdity of trying to purchase a bottom when there is such a massive potential upside for BTC in a recent tweet. “I’d be extremely surprised if the bottom wasn’t in for this $BTC bear market. If you’ve been on the sidelines, what are you waiting for if not now? If you’re a long-term bull, the 5 year EV is 25-50x, and you’re going to wait to time an entry that’s 20% more attractive?” He noted. I'd be extremely surprised if the bottom wasn't in for this $BTC bear market. If you've been on the sidelines, what are you waiting for if not now? If you're a long-term bull, the 5 year EV is 25-50x, and you're going to wait to time an entry that's 20% more attractive? — Ryan Selkis (@twobitidiot) March 21, 2019 As the market’s price action continues to unfold, traders and investors should keep in mind the massive potential Bitcoin and the entire markets have to surge significantly higher in the next few years. Featured image from Shutterstock. Prominent Analyst: Bitcoin (BTC) is Likely to Surge to 400k, Does This Mean the Bottom is in? was last modified: March 21st, 2019 by Cole PetersenThe post Prominent Analyst: Bitcoin (BTC) is Likely to Surge to 400k, Does This Mean the Bottom is in? appeared first on NewsBTC.
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