Crypto Great | Bitcoin | DeFi

2021-03-24 11:57:00 ​​Chainlink (LINK)

Chainlink is a decentralized oracle network connecting real-world data to blockchains.Importing real-world data to the blockchain is critical for expanding application use case sand ultimately helping blockchains achieve mass adoption.

There’s no doubt 2020 was the year of DeFi. Total value held on DeFi platforms grew from$650 million at the start of 2020 to $22 billion today. This means big business for Chainlink’sdata oracles.

You see, DeFi applications like Aave and Synthetix rely on off-chain pricing data to calculate lending rates or know the price of a real-world asset such as gold. Chainlink enables these platforms to securely access the off-chain data feeds needed to function. Without data oracles,much of DeFi wouldn’t be possible.

And since many of the largest DeFi applications on Ethereum rely on Chainlink for data,LINK token holders stand to benefit from the growth in DeFi.

Chainlink achieved nearly 4 million data transactions in 2020. This meant node operators purchased data using over 1 million LINK tokens. And as demand and use cases forChainlink’s data oracles continue to grow, so will the demand for LINK tokens.

We believe DeFi is not only here to stay, but its usage is about to take off. This is just one areaof blockchain technology Chainlink stands to benefit from, as demand for Chainlink’s services continues to grow. Open / Comment

2021-03-22 11:32:00 Ripio Credit Network (RCN)

Ripio Credit Network is a decentralized peer-to-peer lending platform connecting lenders and borrowers. It provides a way to extend credit to those who can’t access traditional banking services.

Last month, RCN implemented its USDC engine, which allows users to receive, repay and collect funds in the USDC stablecoin, the second largest stablecoin with a market cap of $5.1billion.

Adding USDC to RCN extends the platform’s reach to new lenders. USDC will also bring more stability to borrowers since it’s among the least volatile. This creates a safer lending environment.

Borrowers who repay their loans in USDC will pay a 0.15% fee, which will be swapped for RCN then destroyed. This means fewer RCN tokens in circulation for every repaid loan,benefiting the token price. Open / Comment

2021-03-19 11:47:00 0x (ZRX)

0x is an open-source protocol providing liquidity for peer-to-peer token exchanges on the Ethereum network. Its application programming interface (API) aggregates liquidity from 17sources to find the best possible price for its users.

The 0x API recently reached $1 billion in token swap volume 10 months after launch… And reached $2 billion just 60 days later. This accelerating growth in 0x API usage is thanks to Zapper and MetaMask implementing the DEX aggregator. MetaMask is one of the largest Ethereum wallets with over 1 million users and Zapper is a one-stop-shop portfolio manager for DeFi. These two applications have attributed roughly 16% of the 0x API token swap volume.

And this growing usage has generated roughly 267 ETH in fees for 0x token holders over the past month. That’s 95% higher than the previous month.

Looking forward, the team is working to implement 0x V4. This upgrade comes with a host of features including reduced transaction cost by almost 70% and a standard interface for additional on-chain liquidity pools.

We’re excited to see 0x usage grow as a new wave of users enter the realm of DeFi for the first time. 0x is our play on the plumbing of the DeFi landscape. As 0x protocol trading volume increases, ZRX token holders generate more profits, and this leads to higher token prices. Open / Comment

2021-03-17 12:25:00 ​​Stacks (STX)

Stacks, previously Blockstack, is bringing Ethereum-like abilities to the bitcoin network through its new Proof-of-Transfer (PoX) consensus mechanism.

In doing so, Stacks offers more functionality to bitcoin’s network and gives it more value. One feature is online identities to access applications and interact with smart contracts. This is similar to using your Google login to access many websites and making a seamless online experience.

The combination of using the world’s most secure blockchain and enabling user identities for interacting with smart contracts and its 500+ applications is a powerful one.

Stacks’ move to PoX also made the network fully decentralized. The benefit of this is U.S.investors can now purchase STX tokens, as we wrote to you in our January 14 update. The bottom line is Stacks is one of the most regulation-conscious projects we see in the space.And that’s why, in our update, we raised its buy-up-to price to $1.35. Open / Comment

2021-03-15 13:46:26 Cosmos (ATOM)

Cosmos is one of the major projects going live this year. In an upcoming event called Stargate,the network will flip the switch on what we call the internet of blockchains – and allow disparate blockchains to communicate and transact with one another.

Before that happens, Cosmos needs to upgrade to the inter-blockchain communication (IBC) protocol. It serves as a translator between different blockchains like bitcoin to Cosmos or Ethereum to Cosmos. Through the IBC, networks can communicate using a similar language.

Voting on the IBC upgrade will end January 28. So far, 100% of the submitted votes are in agreement, so we expect it to be implemented soon. Stargate will enable transactions to take place from one blockchain to another. This means the ATOM token will accrue the value from this event, and by taking a stake early, we’ll be ready to benefit when it does. Open / Comment

2021-03-12 12:11:00 ​​Zcash (ZEC)

Zcash is a peer-to-peer currency with built-in privacy features. Basically, Zcash is to crypto as HTTPS is to the internet. HTTPS allows users to communicate securely on the internet.Without it, anyone could access and collect your data, communications, and transactions. Zcash brings a similar level of privacy to crypto.

In November 2020, ZCash hit its countdown timer. The amount of new Zcash minted perblock decreased from 6.25 to 3.125.

Bitcoin had a similar reduction with its halving event in May 2020. Since then, prices are up320%. We anticipate similar results for ZEC in 2021.

Looking forward, ZCash will introduce a new shielded-transaction protocol. This is a complex feature for a decentralized system like ZCash. Bottom line: It will create a trusted, standard set of rules for communication while preserving privacy.

This will make Zcash an even more trusted network overall. And it should bring more users to the network looking for true privacy like HTTPS offers internet users today. Open / Comment

2021-03-10 13:45:15 Loki (LOKI) / Oxen (OXEN)

Loki recently rebranded to Oxen, and some exchanges, including our recommended exchange KuCoin, are starting to use the new OXEN token symbol. We’re updating it in our model portfolio as a result.

Oxen is an early stage bet on what could become the world’s first end-to-end privacy ecosystem, from web browsing and web hosting, to online payments and secure messaging.

The team recently showcased its capabilities with Mumble. Mumble is an open-source voice chat platform. It’s recognized as the best software for in-game chatting. Using Oxen’sanonymous routing (similar to the popular TOR network), users can enjoy a completely anonymous chat experience with Mumble without sacrificing speed or reliability.

As a reminder, Loki’s rebrand to Oxen doesn’t require you to take any action. Your tokens will get updated automatically. After the rebrand fully rolls out, Oxen will feature all its privacy tools to help newcomers and spread awareness of its technology. Open / Comment

2021-03-09 13:31:42 Less than a week to go before the QDAO airdrop begins! To claim your tokens, connect your wallet to Q DeFi Rating and follow @platinumqdao (twitter) so you don’t miss any announcements. The rewards will be distributed based on how active you are in the crypto space. Open / Comment

2021-03-08 12:52:37 ​​Dash (DASH)

Dash is a peer-to-peer cryptocurrency focused on payment solutions. And it’s ready for its biggest network upgrade to date, Dash Platform.
The upgrade brings a significant boost in functionality, speed, and security to the network and the Dashpay payment app. Once it’s in place, Dash will come closer to being the de facto payment solution in the world.

Dash Platform can accommodate applications that use services like Amazon Web Service or Google Cloud Platform. This means Dash will allow decentralized application (dApp) data storage and enter the $258 billion cloud service market.

To keep most cloud storage activity from slowing down the network, Dash will use a second layer. This will keep it from jeopardizing transactions speeds and enable transactions with user IDs instead of long cryptographic addresses. Additionally, users won’t need to download the entire blockchain before sending a payment nor rely on a third party.

Dash Platform is undergoing stress testing and should hit mainnet in the coming weeks.

This is one of Dash’s main catalysts in 2021, and it’ll coincide with Dash’s countdown hitting zero. When it does, we’ll see new coin issuance into the market drop. Meaning as demand increases as a result of Dash Platform, supply will be dropping. This should result in higher prices for the DASH token. Open / Comment

2021-03-06 14:39:18 Compound (COMP)

Compound is a decentralized protocol on Ethereum that enables users to borrow and lend from a pool of assets. Like Aave, Compound removes middlemen, leading to greater profits for lenders and more favorable terms for borrowers.

We’re starting to see centralized finance (CeFi) platforms, such as some crypto exchanges,integrate with DeFi protocols like Compound. This benefit for CeFi platforms is they can offer their users industry-leading lending rates in a friction less way. This is a turning point for DeFi integration. Users are now interacting with DeFi protocols without needing the technical skills or know-how.

Two examples are the OKCoin exchange and Crypto com wallet. Both recently integrated Compound into their platforms. By plugging into Compound, OKCoin and Crypto com users can easily generate yield on their assets with just a few clicks.

These integrations are great for Compound since it means more available funds and lower interest rates for borrowers. This will spur lending activity, translating to more profits for COMP token holders.

Since recommending Compound last month, total assets held on the platform climbed 83%and reached an all-time high of $3.3 billion. The platform is off to a hot start this year and looking to improve upon its performance from last year. Seeing the success of Compound’s lending platform and vision to improve the DeFi landscape, we’ve decided to raise our buy-up-to price to $300. Open / Comment