Month: Januar 2023

• Yield App, a digital wealth platform, has acquired Trofi Group, a platform offering structured solutions for cryptocurrencies.
• The acquisition brings four new structured products to the Yield App product suite, offering customers more options.
• The team at Trofi Group has 30 years experience in derivatives desks at JP Morgan and HSBC, providing Yield App with a superior suite of products.

Yield App, a leading digital wealth platform, has recently announced the acquisition of Trofi Group, a platform offering structured solutions for cryptocurrencies. The acquisition brings four new structured products to the Yield App product suite, giving customers more options to choose from.

The team at Trofi Group is experienced in derivatives desks at JP Morgan and HSBC, giving Yield App an edge in the development of best-in-class crypto-structured products. This move makes Yield App one of the few platforms to bridge the gap between traditional finance and crypto.

Commenting on the acquisition, the CEO of Yield App, Tim Frost, said: “The acquisition of Trofi Group establishes Yield App as a pioneer within the crypto-structured products arena, making us one of only a few platforms to bridge the gap between traditional finance and crypto. We are grateful to the team at Trofi for trusting us to continue their excellent work in bringing enhanced yield structured products to crypto. We look forward to leveraging our combined expertise to provide investors with the best digital asset products available today.”

The addition of Trofi Group’s products to Yield App’s suite brings a host of new opportunities for investors. Not only do they get access to a wider range of products but they also get access to more secure and reliable digital wealth management services.

Yield App is constantly striving to make digital asset investments more secure and accessible to everyone. With the acquisition of Trofi Group, they are one step closer to achieving that goal. The combination of Yield App’s expertise in digital asset management and Trofi Group’s expertise in structured products is sure to provide customers with the best experience possible.

Overall, the acquisition of Trofi Group is an exciting development for Yield App, as it will allow the platform to offer a wider range of products and services to its customers. It is also a great opportunity for investors to access more secure and reliable digital asset investments.

• Enjin Coin (ENJ) has been in an unstoppable bull run in 2023, jumping in all but two days this year.
• Short liquidations have jumped to the highest level in months and the producer price index (PPI) dropped in December.
• Metaverse tokens like Decentraland and Sandbox have also surged, leading to the rise of Enjin Coin.

Enjin Coin (ENJ) has been on an incredible bull run in 2023, soaring in all but two days this year and reaching a high of $0.47 on Thursday. This surge is largely due to the increase in short liquidations, which have jumped to the highest level in months, as well as the drop in inflation, which was revealed by the producer price index (PPI) on Thursday. The rally has also been driven by the performance of metaverse tokens such as Decentraland and Sandbox, which have seen a sharp rise in value.

The surge in short liquidations is largely due to the macroeconomic issues that have been taking place in the past few weeks. Data from CoinGlass shows that over $539k worth of short sales were liquidated on Thursday, an increase from the $257k that was liquidated on Wednesday. This upward trend is being seen as inflation continues to remain under pressure, with the PPI dropping in December.

The performance of metaverse tokens also has a major influence on Enjin Coin’s price. Decentraland’s MANA and Sandbox’s SAND tokens have seen a sharp increase in value, which has had a positive effect on the price of ENJ. The rising demand for NFTs and virtual assets has also been a driving factor in the rally.

Overall, the combination of short liquidations, falling inflation, and rising metaverse tokens has been a major driver of Enjin Coin’s price. With the digital asset continuing to make strong gains, it will be interesting to see how this trend continues in the coming weeks.

• Avalanche price soared 16% after Ava Labs announced a partnership with Amazon Web Services (AWS).
• This collaboration will accelerate blockchain adoption for enterprises, institutions, and governments.
• AWS will support Avalanche’s network infrastructure and decentralised applications (dApps) ecosystem.

Avalanche, the open-source blockchain platform, has seen its native token AVAX soar 16% after the company announced a partnership with Amazon Web Services (AWS). The partnership will make it easier for Avalanche users to deploy and manage nodes and strengthen the layer-1 blockchain network.

Avalanche, which was founded by Cornell professor Emin Gun Sirer and his team of blockchain engineers, is a smart contracts platform that enables developers to create high-performance, trust-minimized applications. It is currently one of the most popular blockchain protocols and its native token AVAX is now one of the top 10 cryptocurrencies by market capitalization.

The collaboration between Avalanche and Amazon Web Services (AWS) will provide users with the ability to launch validator tools and its Subnet deployment feature on the AWS Marketplace. This will increase the flexibility for developers to build applications on the Avalanche blockchain, allowing for faster and more secure transactions.

The partnership will also strengthen the layer-1 blockchain network as well as increase its flexibility for developers. AWS will support Avalanche’s network infrastructure and decentralised applications (dApps) ecosystem, which will include one-click node deployment via the AWS Marketplace. This will make it easier for developers to build and deploy applications on the blockchain, further driving its adoption.

Aside from its collaboration with AWS, Avalanche is also working with other major companies such as Microsoft Azure, Google Cloud Platform, and Oracle Cloud. Through these partnerships, Avalanche is aiming to make it easier for developers to build and deploy applications on the blockchain.

In addition to its collaboration with major cloud providers, Avalanche is also working on other initiatives in order to increase adoption of its blockchain platform. The company is developing a range of tools and resources to help developers build on the Avalanche blockchain. It is also investing in research and development to improve its platform and create more use cases for its technology.

Overall, the partnership between Avalanche and Amazon Web Services is a major step forward for the Avalanche blockchain and its native token AVAX. The collaboration will make it easier for developers to build and deploy applications on the blockchain, increasing its adoption and driving up the price of AVAX.

• Coinbase has announced that it is laying off 950 employees, which accounts for about 20% of the company’s workforce.
• This move is due to the ongoing bear crypto market and the broader macroeconomy.
• CEO Brian Armstrong has assured the public that the crypto exchange is well capitalized and added that crypto is not going anywhere.

Coinbase, one of the largest cryptocurrency exchanges in the world, has recently announced that it will be laying off 950 of its employees, which accounts for around 20% of the company’s total workforce. This decision has been taken in order to reduce the exchange’s operating costs by 25%.

The news was announced by Coinbase CEO Brian Armstrong, who stated that the bear crypto market, which has been ongoing for some time now, as well as the broader macroeconomy, are the main reasons why the exchange had to make such a difficult decision. He also assured the public that Coinbase is well capitalized and that the crypto market is not going anywhere.

Armstrong said that this is the first time the exchange has gone through a bear market that is coupled with a global economic meltdown. He added that reducing their expenses was the only way for Coinbase to increase its chances of succeeding in all scenarios. He said that while it was always painful to part ways with the company’s colleagues, there was no other way to reduce the expenses significantly enough without the layoffs.

The exchange has also stated that it will be providing assistance to all the affected employees. This assistance includes a severance package and outplacement services, as well as a continuation of certain benefits for a certain period of time.

Coinbase is just one of a number of companies that have resorted to layoffs in order to reduce costs. Many other cryptocurrency exchanges, such as Huobi, have also made similar announcements. Despite this, Armstrong has confidence in the future of the crypto market and has said that the exchange is well capitalized.

• Cryptocurrency prices drifted downward on the final week of the year as concerns about a global recession and high interest rates took hold.
• Mirror Protocol (MIR) was one of the best-performing cryptocurrencies in the final week of the year, spiking to a high of $0.24, or 173% above the lowest level this year.
• Analysts suggest that MIR price may remain under pressure as sellers target the key support at $0.1225.

The final week of the year was a tumultuous one in the cryptocurrency market, with prices drifting downwards as concerns about a global recession and high interest rates took hold. Bitcoin darted lower, reaching a low of $16,485, while other coins like XRP, ETH, and ADA dropped as well.

One of the best-performing cryptocurrencies in the last week of the year was Mirror Protocol (MIR), which spiked to a high of $0.24, or 173% above the lowest level this year. Mirror Protocol was an important part of Terra’s ecosystem, as it used its technology to make it possible for people to buy and sell financial assets in a tokenized manner. For example, it was possible for people to buy Apple shares in a token form. The benefit of this was that users could trade these tokens on a 24-hour basis.

At present, the price of MIR has moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved to the neutral point at 50. Analysts suggest that MIR price may remain under pressure as sellers target the key support at $0.1225.

Investors should be aware that Mirror Protocol is a relatively new asset and is yet to be listed on major exchanges, meaning it may be difficult to access for some. Additionally, the cryptocurrency market is often volatile and unpredictable, and so investors should always be aware of the risks associated with any investment.

• BitMEX and Kraken have scored highly in an assessment of proof-of-reserves attestations by major crypto exchanges.
• Binance scored relatively low for its ‚incomplete‘ PoR.
• Nic Carter sees the momentum as a good signal for cryptocurrencies, terming it „a genuine silver lining from the FTX debacle.“

At the end of 2022, two of the most popular crypto exchanges, BitMEX and Kraken, have scored highly in an assessment of proof-of-reserves attestations. The assessment, performed by one of the most widely respected Bitcoin advocates, Nic Carter, provides an in-depth look at the various metrics used to evaluate the reserves of leading crypto trading platforms.

Carter’s “The Status of Proof of Reserve as of Year End 2022” sheds light on the results of the assessment, which show that both BitMEX and Kraken scored highly in the PoR criteria. However, the world’s largest crypto platform, Binance, posted a relatively low score due to its “incomplete” PoR.

Carter believes that the momentum of crypto exchanges releasing their proof of reserves is a good sign for the industry. He sees it as a “genuine silver lining from the FTX debacle,” and believes that we may well emerge from this crisis with a major step forward in exchange credibility.

The proof-of-reserves assessment looked at various metrics, such as the accuracy of the exchange’s reported balances, whether it has disclosed its full balance sheet, and whether it has made its cold wallet addresses public. Both Kraken and BitMEX scored highly on these criteria, while Binance was found to have an incomplete PoR.

Carter notes that the extra layer of transparency provided by proof-of-reserves attestations is a major step forward in restoring trust in the crypto industry. “The release of meaningful proof-of-reserves attestations is a major step forward in restoring trust to the cryptocurrency industry,” he wrote.

In conclusion, the proof-of-reserves assessment by Nic Carter showed that BitMEX and Kraken scored highest amongst the major crypto exchanges. Although Binance scored relatively low, Carter believes the momentum of exchanges releasing PoRs is a good sign for the industry. He sees it as a “genuine silver lining from the FTX debacle” and believes that the extra layer of transparency provided by these attestations is a major step forward in restoring trust in the crypto industry.

• Crypto prices dropped in the final week of the year as concerns of a global recession and high interest rates were felt.
• Mirror Protocol (MIR) was one of the best-performing coins, spiking to a high of $0.24, which was over 173% higher than its lowest point this year.
• The Relative Strength Index (RSI) has moved to the neutral point at 50, suggesting that the MIR price will remain under pressure as sellers target the key support at $0.1225.

Cryptocurrency prices experienced a major drop in the final week of the year as global economic uncertainty and high interest rates weighed on the markets. Bitcoin dropped to a low of $16,485, with other coins such as XRP, ETH, and ADA experiencing similar declines. Among the cryptocurrencies that managed to remain relatively stable was Mirror Protocol (MIR), which experienced a 173% jump from its lowest point this year to a high of $0.24.

Mirror Protocol was part of the Terra Protocol ecosystem, which enabled users to buy and sell financial assets in a tokenized form. It was possible to buy Apple shares, for example, in token form and trade them on a 24-hour basis. Unfortunately, the collapse of Terra Protocol and the Terra USD stablecoin led to Mirror becoming obsolete. Despite this, the coin has managed to remain stable, with its price moving above both the 25-day and 50-day moving averages.

The Relative Strength Index (RSI) has also moved to the neutral point at 50. This suggests that the MIR price will remain under pressure as sellers target the key support at $0.1225. Unfortunately, MIR is yet to be listed on major exchanges, making it difficult for traders to take advantage of its potential.

Overall, the cryptocurrency markets have been volatile in the last week of the year as economic uncertainty and high interest rates continue to weigh on the markets. Mirror Protocol, however, has managed to remain relatively stable, with its price above the 25-day and 50-day moving averages. The RSI is at the neutral point at 50, suggesting that MIR price could remain under pressure as sellers target the key support at $0.1225.