Category: crypto

The global cryptocurrency market is gradually moving away from the pluralist model of multi asset interaction and is starting to become more centric, revolving around an established and highly capitalized hub of recognized and applicable cryptocurrencies. With the utility token having proven its inability to act as a store of value, the coins and stablecoins are turning into the hub of investment and capital activity on the market. The likes of Bitcoin, Ethereum and USDT Tether are currently holding the position of said hub, with the multiple other altcoins acting as the spokes, revolving around the mainstays, affected by their price movements and developments.

Stablecoins have received considerable traction over the last couple of years in light of the many events that have shaken the foundation of the global economy and undermined the reliability of many global fiat currencies. With fiat devaluing and losing its qualities as a store of value against the background of mounting geopolitical tension and rising inflation, the stablecoin is taking on the mantle of a haven for storing accumulated value and savings in an immutable fashion on the blockchain.

However, the stablecoin market is considerably overheated. The main problem is the presence of a single dominating stablecoin – Tether, which is a systematic risk for the entire industry. Statistics indicate that Tether constitutes 65% of daily trading volumes of all stable tokens, standing at over $155 billion. The world’s largest stablecoin is not very stable, as a Small Taiwanese bank that is fully controlled by Tether Ltd Caribbean Bank is used to store all of its US Dollar reserves. The legal tribulations around Tether go much deeper, as Tether paid an $18 million fine to settle NYAG cryptocurrency cover-up charges. It has also been accused of having no direct connection between the custodian bank and its infrastructure and distributed ledger. With its fully manual issuance of tokens, the system is completely dependent on the reliability of its staff. The latter factor casts serious risks of fraud on Tether, as any misuse on the [art of the administrators would potentially result in the additional issuance or burning of the coins.

The inherent weakness of a legal status of Tether extends to the lack of rigorous KYC/AML procedures leading to a systematic risk for the stablecoin and its custodian, including risk of reserve funds blocking. So far Tether has defaulted on many promises to deliver transparent audits, as publicly available data suggests that the token is 49% backed by unspecified commercial papers.

Such risks compile and undermine both the integrity of Tether as a reliable stablecoin and result in significant risks for those relying on it as a secure store of value for their savings and as a trading instrument.

The solution lies in the creation of a truly reliable and credibly backed stablecoin that would be able to offer its holders an undisputed degree of transparency and integrity as a digital currency retaining value on the basis of the inherent qualities of the blockchain. The AAD project is creating such a solution in the form of digital cash — stable and liquid as fiat money, boundless and immutable as cryptocurrency – the world’s first digital cash built right.

The AAD project intends to maintain all of its reserves in a Swiss bank with Cryptographic Proof of Reserve backing. The merger of real-world finance and decentralization means that the coins may not be issued, or burned without the approving cryptographic signatures of AAD and the repository Bank, thus confirming that the account balance has been changed. All AAD coins will be maintained at a 1 to 1 ratio in US Dollars deposited on the reserve account and coins in circulation.

The underlying Cryptographic Proof of Intent algorithm means that the coins are issued or retired only in case of the corresponding intent registered by a customer on a public blockchain. The 1 to 1 intent-issue amount and intent-burn amount ratio is cryptographically verified, meaning that issuance without reserve and retirement without withdrawal is impossible due to cryptographic restrictions.

Application of mandatory KYC and AML procedures will add a much-needed layer of security and legality to the AAD stablecoin, as all new clients will be obliged to pass it prior to the purchase or sale of any tokens. A progressive legal framework set in Zug, Switzerland, supervised by Swiss authorities will complement the basis of the AAD infrastructure built on the Ethereum blockchain and its scaling to other major DeFi platforms.

As the world’s first digital cash built right, AAD will launch a strategic initiative aimed at achieving listing on the most prominent global exchanges, thus becoming available for the broader crypto community. AAD will move towards becoming an enabling technology for payment systems, remittance payment solutions, e-commerce platforms and other value exchange systems.

Considering that the main users of Tether are exchanges, arbitrage traders and members of the crypto community, AAD intends to develop a solution that will cater to all layers of the decentralized market audience, thus providing them with a reliable and credible stablecoin. The project will ensure that all the fundamental problems of the stablecoin market are addressed, while rapidly gaining traction and broad adoption within both the crypto and fiat domains. By combining excellent technical expertise, partnership with a Swiss bank and full transparency on the basis of impeccable Swiss regulation, AAD intends to become the go-to stablecoin solution on the market.

The tokenomic model of the AAD project is based on the mechanism of generating revenue from commissions for each transaction carried out with the use of the AAD token. The commission is paid in AAD tokens at a fixed rate of 0.2% per transaction. The AAD project’s business development team will be fully focused on promoting the token as a means of payments in the e-commerce retail sector, while attracting active market traders who are currently largely exposed to Tether. With the annual turnover of stablecoins in 2021 on-chain standing at $2.5 trillion, AAD foresees that the introduction of its solution and its integration into such off-ramp systems of Visa and Mastercard as a means of payment will result in an immediately addressable market of around $20 trillion.

The AAD project development team also foresees considerable demand from groups that perform arbitrage trades between exchanges. The basis of AAD as a secure, transparent and liquid means of payment shall attract more retail users and new entrants into the decentralized assets market seeking reliable value storage instruments.

The ultimate goal of AAD is to become a means of exchange for payment systems, empowering developers from across the globe to build their payment solutions with AAD at its core.

There is immense verifiable demand for stablecoins, however, related projects currently operating on the market have provable design flaws, which have led to explicit technical and credibility issues, including investigations, legal actions, over issuance of coins, and others. A true stablecoin has to consist of a combination of unique blockchain characteristics, such as immutability, a lack of intermediaries, instant settlements, and fiat stability, while maintaining the functionality of a store value and a means of payment.

The AAD project has combined all the necessary elements to build a true stablecoin relying on a recognized legal framework, a competent team with extensive professional experience, a Swiss banking partner, and legal supervision. The given factors, and the existing market makeup give the AAD project the necessary bedrock to develop and scale in an aggressive fashion that will attract investor involvement and bootstrap user engagement.

LINK:

Site: https://aadollar.ch/

Twitter: https://twitter.com/aad_token
Telegram channel: https://t.me/aad_official
Telegram community: https://t.me/aadtoken_channel

Let Fidelity take the wheel and drive you through the wonderful world of volatility. Bitcoin critics wield one of the asset’s main characteristics as an unsolvable failure, but, is it? According to Fidelity, “bitcoin is fundamentally volatile.” That doesn’t deter it from fulfilling “its ultimate investment objective of preserving wealth over long time periods.” 

Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC

The company said all of that in Fidelity ‘s latest edition of “The Research Round-Up.” In their much longer analysis, they use oil and gold as examples to explain the whole volatility process. We’re in the summarizing business, though. Here at NewsBTC, we will distill their article, state the main points, and briefly comment on them.

Fidelity Explains Bitcoin’s Fixed Supply

• “Bitcoin is unique in that it is a good whose supply is completely inelastic to changes in price. In other words, supply does not (and cannot) change in response to price.”

There will only ever be 21 million bitcoin and that’s that. With other goods, there’s a cycle. “Going back to economic principles, we know that when demand increases for a good, in the short-term the price will rise. However, the higher price then incentivizes suppliers to produce more. More supply will then bring down the price.” This doesn’t happen in bitcoin. 

• “With bitcoin, supply cannot change regardless of what price does. Therefore, any change in demand, short-term as well as long-term, will have to be reflected by changes in price.”

It’s only logical. The laws of supply and demand can only affect the price, and so they do. “There is no change in supply to dampen the effect of price moves, even over the longer-term.” Mix that with an ever-decreasing supply of new coins, due to the halvings, and you have a perfect recipe for what bitcoiners call “number go up technology.”

Fidelity summarizes the phenomenon with a quote from Parker Lewis: 

“Bitcoin is valuable because it has a fixed supply and it is also volatile for the same reason.”

Those two characteristics come in the same package. 

BTC price chart for 03/09/2022 on FX | Source: BTC/USD on TradingView.com
Bitcoin As A Store Of Value

• “Something that has low volatility is not necessarily a good store of value in the long run, while something that has high volatility does not mean that it can’t be a good store of value in the long run.”

It’s easy to get scared by volatility. Investors, traders, and even true believers let their feeling get in the way and exit the market with every little bump in the road. However, there’s no one that has holded bitcoin for more than four years and is in the red. Literally no one. 

Related Reading | Bitcoin Volatility Drops To 15 Month Low; What This Could Mean

Let’s get an obvious example from Fidelity, “The U.S. dollar is not volatile but has also not been a good store of value in terms of purchasing power, while bitcoin is considered very volatile, but has been a much better store of value over the past ten and even five years.”

• “Volatility is a byproduct of price discovery, and there is no other way for price discovery to happen in a free market.”

Even though bitcoin is 13 years old, it’s still going through a price discovery process. How much is bitcoin really worth? We won’t know for years, even decades. “This process of individuals all coming to adopt bitcoin in different ways and timeframes necessarily must produce volatility,” completes Fidelity. 

Fidelity Thinks Bitcoin’s Volatility Is Decreasing

• “The limited historical evidence we do have so far appears to be showing volatility declining over the long-term.”

Bitcoin Volatility decreasing | Source: Fidelity

The graph clearly shows that volatility is slowly fading. This is only logical. Fidelity explains, “as gold went through a major price discovery process in the 70’s, which then resulted in amassing a larger base of investors, volatility naturally declined.” We’re still early, though. This is not financial advice, but, for now, you should learn how to ride volatility and use it in your favor.

Featured Image by Chris de Tempe on Unsplash | Charts by TradingView and Fidelity

According to a report by wax, 75% of online gamers want to exchange virtual assets for a currency that they can use on other platforms and in real life.

In the past, players could only play online games for the fun of it; there was no way for them to convert that thrill to ‘earnings.’ The virtual world (that includes games) was utterly distant from the physical world.

Cryptocurrency has become a ‘game changer’ in recent years, creating an avenue for players to collect and trade the collectibles they’ve earned while playing games, and has ushered in a new era in the gaming industry widely referred to as GameFi. In this article, we would look at The Wasted Lands, a blockchain-based metaverse game set in the post-apocalyptic world,and how it intends to propel the GameFi industry with its recent listing on Kucoin amongst other things.

The Wasted Lands Gaming Metaverse

The Wasted Lands is a pioneer sci-fi game to integrate multiple exciting gaming elements into its role-playing gameplay within a post-apocalyptic metaverse, The Wasted-Verse. With distinctive gaming features revolving around its metaverse ecosystem such as Match 3 Puzzle RPG, Racing and Shelter Building game, The Wasted Lands is fully equipped to provide an engaging player experience.

The Wasted-verse’s avatar NFTs collection allows players to morph into their own unique game personas and start exploring this fantasy world, which further enhances their immersion in the game.

The Wasted Lands will be one of the first blockchain games to be listed on Apple App Store and Google Play Store. The game will be made available for download on these platforms starting from around mid-March.

$WAL, Native Token Of The Wasted Lands Gets Listed On Kucoin

The Wasted Lands announces its Kucoin listing after raising $3 million in Funding Rounds and reaching over $2 million in NFT Sales. Its gaming $WAL token is now available to trade on one of the world’s top cryptocurrency exchanges, KuCoin, as of 7 Mar 2022, 10:00 UTC.  KuCoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown to become one of the most popular crypto exchanges with over 10 million users active across 207 countries. The exchange houses over 600 digital assets and 1100+ trading pairs. Currently, the platform offers P2P fiat trading, staking, spot trading, lending, crypto derivatives and margin trading.

The launch of the $WAL token on Kucoin is an important step in The Wasted Lands’ effort to boost the game’s visibility among the GameFi community and Play-to-earn enthusiasts.

Alpha Testing Program

After a successful Alpha Testing with over 2,000 players, The Wasted Lands team has improved the game, creating a more seamless game play experience, all thanks to user contributions. To show the team’s gratitude and appreciation, a total prize worth of $60K was awarded to 1,000 of their valued contributors.  The Wasted Lands’ presence continues to resonate among major gaming guilds in the community, including YGGSEA, GGG, MGG, AGU, Avocado and Polkastarter Gaming, etc. The game is also getting positive reviews from various gamers from the West like BHS, Coin Muhn, Crypto Knowledge Tamil, Crypto Rank,… to the East like GTA, Crypto Ryan, AnhReview, Modern Mulan,… To date, more than 15,000 scholars have registered to play the game, while the trade volume warrior on the marketplace has surpassed 1,000 BNB.

Its first ever PvP season is expected to take place on March 15. Soon enough, players will be able to join the official version of the game on iOS, Android and Desktop with the chance to win a total prize of $500.000 from this first PvP season.

Being a highly anticipated and promising project, The Wasted Lands differs from other conventional games by its captivating world and story of the post-apocalypse coupled with the exciting and diverse gameplay. Through the partnership with Kucoin and their other trusted partners, The Wasted Lands is set to position itself as one of the leading metaverse games.

For more information on The Wasted Lands, visit

• Website: https://thewastedlands.io
• White-paper: https://thewastedlands.io/white-paper
• Discord: https://discord.com/invite/thewastedlands
• Twitter: https://twitter.com/thewastedlands
• Telegram: https://t.me/TheWastedLands

Ethereum started a decent increase above the $2,600 resistance against the US Dollar. ETH price is gaining pace and could even rally above the $2,720 zone.

• Ethereum formed a base above $2,500 and started a fresh increase above $2,600.
• The price is now trading above $2,600 and the 100 hourly simple moving average.
• There was a break above a major bearish trend line with resistance near $2,580 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could accelerate higher above the $2,720 and $2,750 levels in the near term.

Ethereum Price Gains Pace

Ethereum remained well bid above the $2,450 level. ETH stared a decent increase and formed a base above the $2,500 level. There was a break above the $2,550 resistance zone and $2,580.

There was also a break above a major bearish trend line with resistance near $2,580 on the hourly chart of ETH/USD. Ether price settled above the $2,600 level and the 100 hourly simple moving average. The bulls pushed the price above $2,700 and a high is formed near $2,728.

The price is now consolidating gains near the $2,700 level. It is also trading well above the 23.6% Fib retracement level of the upward move from the $2,445 swing low to $2,728 high.

Source: ETHUSD on TradingView.com

On the upside, an initial resistance is near the $2,725 zone. The first major resistance is seen near the $2,750 level. The next major resistance might be near the $2,800 level, above which the price could accelerate higher. In the stated case, the price might rise towards the $2,880 level.

Fresh Decline in ETH?

If ethereum fails to continue higher above the $2,725 level, it could a downside correction. An initial support on the downside is near the $2,660 level.

The next major support is near the $2,640 level and the 100 hourly simple moving average. The main support is now forming near the $2,580 level. It is near the 50% Fib retracement level of the upward move from the $2,445 swing low to $2,728 high. Any more losses might call for a move towards the $2,500 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 60 level.

Major Support Level – $2,580

Major Resistance Level – $2,725