Blockchain
Bitrise Price Skyrockets After Cardano Community Members Join
New York, New York–(Newsfile Corp. – November 15, 2021) – Cardano, a blockchain network, is hailed by the crypto community for its consistency. Since 2017 when Cardano was launched, it has been doing well in developing the biggest blockchain. The team at Cardano is building a blockchain to address shortcomings with the present system. According to the Cardano team, the Cardano blockchain is providing unmatched security and sustainability to decentralized applications and systems built on it.
Bitrise
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The Cardano team says that the Cardano platform is the first peer-review researched blockchain platform. The blockchain project promises to provide the most secure and fastest blockchain platform. As blockchain, Cardano is also affecting other products in the crypto space.
Recently, Cardano community members joined Bitrise coin, one of the fastest-growing crypto Launched on 28th July 2021. The effect this move by Cardano community members had was instant skyrocketing of the coin price. Just like Cardano, Bitrise is a coin that has been consistent in the crypto market.
The Cardano community members joined Bitrise as a major milestone for the coin. The Cardano community’s members are in the thousands, hence their impact was huge. Cardano is also a blockchain that hosts many major products used by thousands. Therefore, Bitrise coin finds itself in a good place with Cardano community members joining. The team at Bitrise is now expecting more Cardano members to join.
Like Cardano, the Bitrise team says their product would appeal to anyone, not just Cardano community members. Just like Cardano, the team says it is building the next big thing in DeFi.
DeFi is the future of the financial industry, which is why Cardano and other users are joining DeFi. Bitrise is one of the best decentralised financial systems in the making, which is why Cardano members are joining in thousands.
From tokenomics to staking, Cardano community members have huge opportunities. Cardano members joining Bitrise can enjoy rewards from staking and holding tokens.
Cardano members joining Bitrise will be entitled to token holding rewards, in BNBs. Bitrise network distributes 4% of the 12% tax charged on tokens sold to token holders, including joined Cardano members. Immediately the Cardano members buy BRISE tokens, they will receive rewards in the next 60 minutes.
Bitrise staking process is another reason Cardano community members have joined. The staking starts at the end of November 2021, a move that is attracting Cardano members and others. The 80% APY revenue share is appealing to other users as well, not just Cardano members.
Cardano community members have also mentioned the accomplishment of Bitrise. With just 3 months in, the market is delivering a lot to a point to attract communities like Cardano. Like Cardano, the team has released several products.
Already, Bitrise has Bitrise Audits, Techrate Audit and Bitrise dApp wallet. The Bitrise team is also soon launching the cryptocurrency exchange, which will increase the rewards for joining Cardano members.
The team is also positive that more Cardano investors will join after a successful staking process. The number of Cardano members joining has also been rising fast, according to the Bitrise team.
Bitrise will be launching a blockchain program. So like Cardano, Bitrise blockchain will be more than a DeFi protocol.
The upcoming Bitrise exchange and blockchain are also going to bring more members from Cardano.
Media Contact
John K
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Website: https://www.bitrisetoken.com
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Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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