Crypto News

Mark Cuban Claims Bear Market Will End After Crypto-Apps Become Handy

The declining crypto market has raised lots of concerns among investors. Through several analyses, this prevailing price fall seems to be the worst in history. The crisis keeps raging with numerous losses recorded and more panic sell-off from traders. As a result, many people present ideas that could yield solutions to the situation. One of the trending reports is the statement of billionaire entrepreneur Mark Cuban concerning the bear market. Cuban, popularly known as the top investor in Shark Tank, a reality TV show, believes in the role of applications. He mentioned that proper focus on applications with utility is the solution. Related Reading | Extreme Fear Remains: Recapping What’s Behind The Crypto Market Panic The billionaire is convinced that applications with utility would create a turnaround in the prevailing market stance. Currently, most of the applications are geared toward collectibles and financial technology. But in Cuban’s opinion, the market needs a different spark that business-focused apps could bring. Cuban cited an instance with the decentralized brand of QuickBooks. According to him, such an accounting management software that is business based created a difference. Hence, he argued that a similar projection in the crypto market would lift the bearish trend. The Bankless Podcast episode on June 23 featured Cuban. While answering the question on the lasting period for the crypto bear market, the billionaire stated it would continue till the emergence of a catalyst. According to Cuban, that catalyst has to be an application; otherwise, prices would get even lower. In his past statement, Cuban had kept up to 80% of his non-Shark Tank funds in cryptocurrency. Cuban Said Crypto Market Is Still Not Cheap In Cuban’s opinion, the crypto market is yet to reach its low price. This contradicts most of the predictions for BTC and other crypto tokens. Many analysts have already concluded that digital assets have reached the bottom line. Cuban x-rays the high market cap for most crypto protocols while stating they are still not cheap. To him, having market caps worth billions of dollars is not cheap. He mentioned that during DeFi Summer, most protocols recorded market caps within the cycles of hundreds of millions of dollars. Related Reading | Mining Operators Fret As Bitcoin Looses Ground, What Lies Ahead For The Mining Community Also, their token prices were just around a few pennies. But he still complained about the lack of utility even with low market caps. In further explanation, Cuban anticipates a robust crypto industry through mergers of blockchains and protocols. To him, it’s a great consolidating move that could occur in any industry. When it comes to making a choice based on his optimism in different tokens, Cuban went for carbon offset DeFi tokens. According to him, it’s a measure to offset his carbon footprint when he burns them. Featured image from BBC, chart from TradingView.com

Altcoins Ethereum

Solana (SOL) vs. Near Protocol (NEAR) – Coin Bureau Host Analyzes Top Ethereum Rivals

The host of popular YouTube channel Coin Bureau is comparing Ethereum challengers Solana (SOL) and Near Protocol (NEAR) amid mounting uncertainty in the crypto markets. In a new video, analyst known as Guy tells his 2.06 million YouTube subscribers that SOL has preferable tokenomics to NEAR.  “Tokenomics is where Solana shines. I don’t know what […]

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Crypto News

Chainge Finance officially becomes the most liquid cross-chain crypto trading venue on the market

In early 2009, Bitcoin trading was peer-to-peer, initially via PayPal. However, it only took a few months before the first ramp was launched. Mt Gox and earlier variants were, as expected, rudimentary and centralized. Fast-forward less than a decade later, and crypto trading is a vibrant industry with billions moved every day. Exchanges are critical channels for moving billions of assets between users and chains. As the industry expands and crypto finds adoption, their role will only be magnified. This rise is especially when decentralized finance (DeFi) is at the fore, dangling irresistible offers. DeFi and the Role of Liquidity Aggregators In less than three years, DeFi commands billions in Total Value Locked (TVL), with demand stemming from the sub-sphere’s value proposition. DeFi is, as the name suggests, decentralizing finance using smart contracts, allowing users from across the globe to access funds. Exciting as it may be, there must be reliable ramps with acceptable levels of liquidity for smooth trustless swapping of tokens. Decentralized exchanges (DEXes) are launched from leading smart contracting platforms like Ethereum and the BNB Chain and have relatively high levels of liquidity. However, since there are more than a dozen blockchains with active crypto projects whose tokens command hundreds of millions in market cap, most traders have been manually hopping between exchanges or using liquidity DEX aggregators. Aggregating DEXes, for example, 1Inch, enables smooth swapping of different tokens listed in various DEXes from one user interface. By doing this, liquidity aggregating DEXes saves time and resources, encouraging more users to channel funds into DeFi. Nonetheless, while liquidity aggregating DEXes play a massive role in DeFi, most are single-chain and a few multi-chain, allowing its users to bridge their assets, but none have cross-chain aggregation capabilities. As a result, traders receive fewer tokens than they would if they could access liquidity on multiple chains at the same time… Oh, wait. Now they can. Chainge Finance: Best Pricing, Cross-Chain, and Swift Settlement There’s a huge problem that Chainge Finance is currently tackling. The cross-chain liquidity DEX aggregator’s developers have released a blockchain-based trading venue laser-focused on ensuring traders swap assets in the most liquid environment ensuring the best rates. Swapping tokens via Chainge Finance is non-custodial and offered through a simple-to-use mobile interface. The platform also features useful asset management tools used by over 400k users for a combined TVL of more than $160 million and a total aggregated liquidity of over $40 Billion. Distinguished tools available in Chainge Finance include a spot, futures, and options DEX, universal digital assets with cross-chain roaming capabilities, a time-framing module, and more. Every order initiated from Chainge Finance will be queried in all 20 supported DEXes and “crawled” for the best prices. Once the chords are struck, the order is split across multiple liquid chains for the trader to receive the best prices. The part taken can be conveniently viewed in the app’s order details section. Chainge Finance does this through its proprietary smart-router that leverages DCRM technology and a swap pathfinder algorithm. The Smart Router tool searches integrated DEXes across multiple chains for the best rates for lower slippage while also establishing a route for a swift settlement. Practical example When a user wants to swap token A for token B, the smart router will query the DEXs and determine real-time liquidity for the A/B pair in all DEXs on each chain. Taking gas cost into consideration, the smart router will return the best route to execute the order.   For instance, the fixed amount of A tokens to swap on the Ethereum in Uniswap DEX + the fixed amount of A tokens to swap on the Ethereum chain in Sushiswap DEX + the fixed amount of A tokens to swap on the BSC chain in Pancake DEX, and more until the total swap amount is reached. After the user places the order, the following steps will be executed: Token A is wrapped into the fusion chain (no matter what chain token A is on) The transaction to burn all token A universal assets on fusion is signed The burn receipt is used to call different proxy swap smart contracts on each chain to use token A on those specific chains to execute the swap. Within the slippage margin, the swap order will be executed. NB: If the slippage margin is exceeded, the swap deal will be only partially completed and the user will immediately get the remaining portion of A tokens back. This use case should render obvious the huge advantages of using the Chainge Finance cross-chain liquidity aggregator aka the most liquid DEX on the market. Chainge Finance has Incorporated over 20 DEXes and 1 aggregator across 9 chains Notably, Change Finance’s DCRM Technology is patented and developed by Fusion Foundation in partnership with some of the world’s leading security and cryptography experts, including Louis Goubin, Professor of Computer Science at the University of Versailles, and Pascal Paillier, Ph.D. Chainge Finance has already integrated with more than 20 DEXes and 1 aggregator across 9 popular blockchains, (with lots more to be gradually added). For example, on Ethereum, Chainge Finance integrates 1inch, Uniswap and SushiSwap. Meanwhile, in the Cronos blockchain, they have chosen VVS and Cronaswap. This DeFi protocol is well-thought-out and is a cut above the rest. It is purposefully designed to resolve existing pain points of inconveniently low liquidity resulting in unfavorable swapping rates as well as eliminating the need to use cross-chain bridges. Ultimately, Chainge Finance has designed a platform where traders can confidently swap cross-chain assets at the best swapping rates in highly liquid environments and manage their crypto assets backed up by top-grade security protocols.

Altcoins Bitcoin

Coin Bureau Updates Outlook on Top Ethereum Rival Avalanche (AVAX)

The host of popular YouTube channel Coin Bureau is giving his outlook on Avalanche (AVAX) amid a bear market that he warns could last for another two years. In a new video, the closely followed crypto analyst known as Guy tells his 2.06 million YouTube subscribers that AVAX is doing well considering its big sell […]

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