Crypto.com (CRO) platform co-founder Gary Or is launching Particle B, a decentralized finance (DeFi) project incubator. This startup accelerator will focus on projects built on Crypto.Com Chain and Ethereum.
Feeding the Crypto.com ecosystem
Gary Gold , co-founder and CTO of Crypto.com, just founded Particle B . This startup accelerator will help projects based on Crypto.com Chain and Bitcoin Era to grow.
This initiative follows the explosion of the decentralized finance sector, on which Crypto.com intends to bet in 2021 . Over the past 12 months, DeFi has grown at a staggering rate, with its Total Locked-In Value (TVL) hovering around $ 15 billion this month. As a reminder, DeFi’s TVL in 2019 at the same period amounted to $ 700 million.
In addition, the Crypto.com blockchain is preparing to deploy its mainnet , which, according to initial results, is capable of processing several thousand transactions per second with a confirmation time of a few seconds.
With such capabilities, Particle B will therefore support DeFi application developers wishing to deploy their products on Crypto.com Chain. Thus, from 2021, Particle B plans to launch at least 1 DeFi project per quarter .
Although its primary interest is the development of decentralized finance, Particle B even plans in the future to incubate startups working on projects related to Bitcoin (BTC):
“Gary is one of the brightest minds in crypto, and his contributions to Crypto.com are unparalleled. We are extremely excited about his decision to found Particle B, which will help energize the Crypto.com Chain ecosystem, vvv, ”added Kris Marszalek, CEO of Crypto.com.
The support of Particle B will benefit the entire Crypto.com ecosystem and its users, who will discover new DeFi products at a steady pace. It should be noted that Crypto.com has already taken several steps towards DeFi, most notably with the introduction of Supercharger , a platform for cultivating DeFi tokens by providing liquidity in a pool .
The crypto-card of Crypto.com
With the deployment of the mainnet of its blockchain which is approaching and the arrival of DeFi applications, holding CRO tokens on Crypto.com offers more and more advantages.
The platform notably has its famous crypto-card, which allows you to obtain 1 to 8% cashback on all purchases . This percentage changes depending on the number of CRO tokens that the user stakes on the platform.
Depending on the model, other benefits are added to the cashback, such as the full refund of Spotify, Netfix or Amazon Prime subscriptions.
In addition, under certain conditions and using the link below, each user can receive a $ 25 bonus by ordering one of the crypto-cards from the Metal range.
For example, to receive Ruby Steel – the first card in the Metal range – it is necessary to deposit 2,500 CRO tokens on the platform. At the time of writing, that corresponds to € 118 . Using this card allows you to get 2% cashback on all purchases, as well as the refund of a Spotify subscription.
From Binance they explain what makes this time different from other bullish cycles that have had the price of Bitcoin.
In the last few hours, the price of Bitcoin reached an all-time high of $20,000, which represented a growth of almost 180% since the beginning of 2020 and marked this year as one of the most successful in the history of cryptomoney. This was pointed out by Binance, with an analysis shared with Cointelegraph en Español, from Argentina.
What makes this time different from other upward cycles that cryptomoney has had? In response to this question, they stressed that, first of all, there is the interest that public and private institutions are showing in including Bitcoin among their assets, including investment firms, hedge fund administrators and even companies that are quoted on the stock exchange. This has encouraged the organic growth of its value.
Another example of this was the announcement of PayPal, which will allow customers to buy and sell Bitcoin on its platform, awakening the interest of a more massive audience and raising the issue in the press and public opinion, thus increasing the knowledge and confidence of new users.
„This last movement towards the rise, finishes consolidating what was already glimpsed in the last weeks. Bitcoin had been testing a ceiling of USD 20,000 and managed to break it. The improvements in the markets in general, that the companies that invested in Bitcoin have bought back, as is the case of Microstrategy, which after buying 550 million dollars, has bet another 650 million, with an average price above 19,200 dollars, were factors that strongly influenced to break that ceiling,“ said Maximiliano Hinz, Latam Operations Director of Binance.
On the other hand, they also pointed out that, according to Google Trends, the number of searches for the terms „bitcoin“ and „price“ is far from reaching the massiveness levels of late 2017 (remembered as the last great rise of the cryptomone) which suggests that the growth of 2020 is not based on a frenzy of more novice investors looking to be part of the hype, but is most likely being driven by corporate investors and the consolidation of their participation within the cryptomone sector.
But what has drawn the attention of these investors to consider Bitcoin as an investment? What are the factors that have led Bitcoin to gain the trust of more traditional investors?
Binance pointed out that first of all, you have to look at the pricing history. „BTC started the year above $7,000 and in two months touched the $10,000 level. Then there was a pandemic-driven drop in global markets, which also affected Bitcoin and brought its price down to about $4,000. What followed was a steady return to pre-collapse levels in just two months, followed by stability near the $10,000 level, with lateral stocks in the middle, before the sustained rise in the last few months and the arrival of a record high in the last few hours,“ they detailed.
Another factor that according to this company has influenced the growth is the understanding of Bitcoin as a reserve of value with similar characteristics to gold.
„Some observers see BTC as a digital version of the precious metal, with similar scarcity properties that make both assets good deposits of value. However, Bitcoin outperforms gold in some features, such as counterfeit resistance, fungibility, portability, security, and more, making it generally less expensive and simpler to handle than gold,“ they said.
„Similar to the previous point, the understanding of Bitcoin as a negotiable asset compared to stocks has helped to understand the digital asset as a medium and long term investment worth considering. Other observers compare the rise and volatility of Bitcoin to the stock market, only with lower entry and maintenance thresholds, as well as a 24/7 market with a growing global user base. That’s why Bitcoin and other crypto-currencies have proven to have the potential to offer returns similar to those of the traditional stock market, while being more useful from an individual and institutional point of view,“ they added.
Bitcoin’s flight to new heights continues, now breaking through the US$24,000 mark.
Bitcoin (BTC) has reached a new record high today, December 19. So as the weekend approaches, the market-leading cryptocurrency is on the upswing again, adding the next milestone to its current run of highs.
From record high to record high
As data from Cointelegraph Markets and Tradingview shows, Bitcoin today jumped to $24,210, breaking the previous new record high set just this week.
After surpassing the previous best of 23,777 US dollars, it went up a bit more before ending at the new high and going down again. From the price data, it can be seen that there is a lot of selling pressure at the psychologically important $24,000 mark.
„Can we make another record high this weekend?“ as Cointelegraph Markets analyst Michaël van de Poppe asks questioningly. Bitcoin investors seem to be taking up the challenge, as the bulls continue to push higher.
Buy and sell ranges for bitcoin.
Expert warns of retracement
Today’s bounce continues the highs of the past few weeks, with significant gains also coming on weekends, and not just during the week as is usually the case.
Meanwhile, on Saturday, Van de Poppe warned that a support is only at 18,500 US dollars again. So any retracement would be unchecked until then.
„Such vertical upswings often don’t last very long. At some point, there will be a downturn again. When that downturn will come, no one can say. Bitcoin could first climb to 30,000 US dollars before it then goes down again by 30%,“ as the expert summarizes the current situation.
„BAM!“ – Stablecoin Tether cracks record $20 billion mark.
The market-leading stablecoin is being pulled to new heights in Bitcoin’s slipstream.
The market-leading stablecoin Tether (USDT) has reached a market capitalization of over $20 billion for the first time.
As the stablecoin’s data showed on Dec. 18, Tether is now worth $20 billion, further solidifying its position as the fourth-largest cryptocurrency.
Tether doubled in value since September
„Tether has just cracked a market cap of $20 billion,“ according to the related announcement on Twitter. And further:
„This fantastic milestone is further confirmation that Tether has extended its leading position as the cryptocurrency with the highest liquidity, stability and trustworthiness!“
The stablecoin’s market capitalization has been growing at a record pace recently, breaking the then-record of $10 billion just three months ago.
Tether CTO Paolo Ardoino euphorically underscores the new record with a simple „BAM!“ on Twitter.
Tether’s ever-increasing creation of new currency units, known as „minting,“ has been a source of contention in the past, with some market researchers fearing that it artificially inflates the price of Bitcoin (BTC). In addition, allegations against iFinex, the company that operates both Tether and the Bitfinex crypto exchange, persist, adding further fuel to the fire.
Demand for Tether is nonetheless unabated, as the stablecoin is an important bridge to other cryptocurrencies and DeFi tokens. In the process, USDT has now further extended its market leadership among the „stable value“ coins.