Crypto Fight

2021-08-04 20:00:33 ​Crypto Loans Still Booming, Bitcoin Losing Its Share

Digital currency prime brokerage Genesis said its new loan originations increased almost 700% year-over-year to an all-time high of USD 25bn in this year's second quarter and were also 60% higher than in the first quarter this year. Also, bitcoin (BTC) is losing its share in their portfolio.

"This marked our thirteenth consecutive quarter of strong lending growth," the firm said, adding that this also brings the cumulative originated value to USD 66bn since the launch of the Genesis lending business in March 2018.

The Q2 2021 Market Observations Report stated that, despite a 41% decline in the BTC price over Q2, the company's total Active Loans Outstanding decreased by only 8% to USD 8.30bn.

Per the loan portfolio composition, BTC accounted for 42% at the end of the second quarter, compared with 54% at the end of 2020.

"Since our weighted average cost of capital (WACC) on crypto assets was significantly lower than our cost in USD, Genesis had more room to lend crypto at lower rates, even when spreads were much tighter," the firm said.

Additionally, bitcoin trading accounted for some 47% of the firm’s overall spot trading activity, down from roughly 80% in Q2 2020. Ethereum (ETH) took most of that share, accounting for some 25% of overall volumes on the desk.

There's also a noticeable continued demand for altcoins, the report said.

According to Matt Ballensweig, Head of Institutional Lending at Genesis, trends in Genesis's activity and the broader market "confirm the changing role of bitcoin as the industry's gateway asset, and highlight the emerging protagonism of Ethereum and decentralized finance" (DeFi).

Bitcoin's market dominance declined from over 70% at the end of 2020 to under 45% at the end of Q2, he said, while ETH and "most of the main" DeFi tokens more than doubled in price since the beginning of 2021. Open / Comment

2021-08-03 13:37:39 $PHTR Liquidity Mining Programme

We are excited to launch liquidity mining for our native token $PHTR. It provides a much-needed boost in on-chain liquidity, which is key to the smooth operation of our ecosystem.

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https://twitter.com/phuturedao/status/1422270676719718422?s=21 Open / Comment

2021-08-02 11:07:03 https://twitter.com/DogemonGoApp/status/1422063623011282944?s=20 Open / Comment

2021-08-01 13:21:48 https://twitter.com/wsgtoken/status/1421767831566311428?s=21 Open / Comment

2021-07-31 21:15:00 ​Large VCs are sidelining smaller crypto investors, PwC crypto lead says.

Inflated valuations for crypto businesses have raised the bar for small investors to participate in the ongoing innovation.

As cryptocurrency continues to take over mainstream finance, formerly cautious investors across the globe are rethinking their stance of counting crypto as a bad investment. This change of heart leads to a higher market valuation of crypto businesses due to increased funding from goliath investors.

Citing this trend, PricewaterhouseCoopers crypto leader Henri Arslanian claimed that larger players from venture capital, private equity and pension funds are outplaying smaller boutique firms and family offices from participating in the latest innovations around crypto.

Arslanian sided with smaller VC firms as he shared an example stating that a deal worth $10 million is now seeing “large VCs come in and put a bid in for a higher valuation.” He opined:

“This is happening a lot with very early-stage companies, say, $5 million to $20 million — the prices are being inflated.”
As the crypto ecosystem continues to redefine the future of the asset class, Arslanian highlighted the recently doubled volume of crypto mergers and acquisitions. He underscored how this year crypto businesses were able to raise 2020’s M&A value of $3 billion in just three months.

“If your minimum ticket size is around $50 million, there aren’t that many companies that have that status yet, Arslanian explained: "If you’re a large pension fund and you decided to make a crypto allocation, there are no more than two dozen companies around the world that are investable, looking for capital and could absorb $100 million.”

Along similar lines, Cointelegraph reported on FTX’s recent record-breaking funding round of $900 million. The funding, which resulted in FTX’s valuation growing from $1.2 billion to $18 billion, saw the involvement of large VC firms including Softbank, Sequoia Capital, Coinbase Ventures, Multicoin, VanEck and Paul Tudor. Open / Comment

2021-07-30 12:01:00 An incredible AMA with S-WALLET will be held on the NEIRONIX analytical agency platform on August, 1!

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TELEGRAM CHAT Open / Comment

2021-07-29 17:34:08 https://twitter.com/wsgtoken/status/1420735745376010242?s=21 Open / Comment

2021-07-28 22:00:21 ​India to use Ethereum blockchain to verify diploma certificates.

A new partnership with LegitDoc places India among early adopters to implement an e-governance system for higher education.

The Government of Maharashtra recently announced a partnership with Indian blockchain startup LegitDoc to implement a credentialing system powered by Ethereum (ETH) for providing tamper-proof diploma certificates.

To counter the rise in document forgery, the Maharashtra State Board of Skill Development (MSBSD) goes against India’s crypto ban narrative to use Ethereum-based public blockchain. In an exclusive statement with Cointelegraph, LegitDoc CEO Neil Martis highlighted that while the certificates are verified using the traditional manual methods, MSBSD will start advocating only the digital verification method for all the manual verification requests from the next year.

Showcasing interest from other local government authorities, Martis added: “We have an active work order from the Govt of Karnataka (Dept of Information Technology and Biotechnology). We are in talks with the Government of Telangana (school education dept) and Higher & Technical education dept of Maharashtra to implement LegitDoc for their student community.”

The partnership with LegitDoc places India among early adopters to implement an e-governance system for education with the Massachusetts Institute of Technology (MIT), Malta and Singapore.

Citing blockchain’s capability in curbing the frauds related to document forgery, Chairman of MSBSD Dr. Anil Jadhao pointed out:

“In the last 10 years, there has been a rampant increase in forgery of government-issued documents which have caused huge financial & reputational losses to the stakeholders involved.” Open / Comment

2021-07-28 16:57:03 ​What makes you more successful than the others? You know what to do

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2021-07-28 13:00:42 AMA Announcement

Token Map will host an AMA Session with ESP in Crypto Fight + ESP chat.

START 4PM UTC 28.07.2021

Prepare your best questions and be ready to participate in time, see you soon.

Please make sure to follow Telegram group @espcoin_chat

Website - http://www.espcoin.io Open / Comment