A trillion dollars has been wiped off the crypto market since the highs we saw in November
2021. The markets overall have been witnessing a broad tech based sell-off with the NASDAQ
experiencing it’s worst week of trading since March 2020 when the pandemic restrictions
started to cause havoc globally. Intel being one of the only tech stocks showing some resiliency.
You’ll never find your gold on a sandy beach, unless you have a metal detector. You won’t
find your oil on a busy street, unless of course you mean, Wall Street? At least we
don’t have to dig that deep to mine crypto. In today’s show we’ll investigate into
Netki and Chivo wallet in El Salvador, Chia Network, Chain token, Singularity DAO, XYO
Network, what Coincover is doing for network security, blockchain in the EV market and
what’s trending from the NFT space. So, keep watching till the end.
Most crypto based stocks like Microstrategy, Hive Blockchain and Galaxy Digital have all
been experiencing slumps. The Treasury yields have increased since December but although
steadying, most of the market including the crypto segment still remains in correction
territory. Many business leaders and economists are criticising the Fed saying that they have
acted too slowly to ease the 7% high inflation levels they are experiencing in the US. But
amidst all this the macro fundamentals still prove bullish for crypto in the long term
although the sector is at present being hacksawed. And you know what they say about catching
knives? There has been a significant amount of institutional investment in crypto even
from the banks researching into blockchain technology. Ripple one of the top 10 crypto
platforms who is awaiting the end of litigation hearings with the SEC has investment from
major banks such as Bank of America and Royal Bank of Canada. Coinbase a popular crypto
exchange has seen investment from Australian Big 4 bank Westpac whose investment proved
lucrative for the financial institution in 2021.
The hawkish outlook from the Fed and regulatory headwinds could be partly responsible for
the current market conditions. But traditionally higher interest rates are meant to be good
news for bankers. central banks raise the rates when the economy shows signs of strength
such as a healthy jobs market, high spending and inflation which puts borrowers in good
positions to pay back loans from lenders. The correlation between Bitcoin and Gold as
a hedge against inflation is interesting to look at. The gold metal price today is approx.
$1842 a year ago it was $1855. According to Goldprice.org. Whereas Bitcoin is still about
14% up from a year ago. The price of BTC today during the Asian mid-market session is $36693
up 1.3%. Over the past 30 days it is down 27.7%. (Coingecko)
Bitfury’s CEO Mr. Brian Brooks relayed his thoughts on the matter to CNBC:
“Bitcoin is now 20% of the total global store of value market as compared to gold––20%
as compared to the gold market. That’s insane,” “What that [report from Goldman Sachs] predicts
is a future where the bitcoin price in the medium term hits $100,000 as it achieves parity
with gold as a store of value,” “So, most of us in the sector remain quite bullish.”
In El Salvador, they adopted Bitcoin as a legal tender in order to not only spur economic
growth and save El Salvadoran citizens millions of dollars in remittance fees by reducing
cross-border payment fees for it’s citizens. This move had huge impacts for Bitcoin especially
in the realm of know your customer and anti-money laundering. Netki, a Los Angeles-based digital-identity
(KYC) (AML) provider, played a pivotal role in this transition - Through the use of Netki’s
flagship KYC/AML product, OnboardID, 4 million users were onboarded within 45 days for the
El Salvadoran government’s Chivo wallet infrastructure. Ensuring the wallet was safeguarded
from unauthorised airdrops. According to Netki estimates, OnboardID enabled the first-time
compliant onboarding of 70 percent of the country’s previously unbanked population
onto the Chivo Wallet.
Chia Networks who also offer the popular Chia wallet is a new decentralized blockchain founded
by Bram Cohen the inventor of the BitTorrent network hasn’t been around for a full year
as yet, but has still made a mark on the sector. They announed the launch of it’s first native,
peer-to-peer exchange called OFFER with capabilities for all Chia wallet holders. The camp’s
cup is running over as they embrace the DeFi revolution, as they partner with Stably to
launch the first stablecoin on the Chia Network USDS. The partnership with Stably will make
wrapped bitcoin and wrapped ether available on the Chia Blockchain. Chia’s philosophy
is centred around the premise that digital money should be easier to use than cash. Chia
is more sustainable using the Proof of Space and Time consensus instead of the energy intensive
Proof of work. Chia’s price during the Asian mid-session is $78.49 up 0.7% over the last
30 days it is down 23% (Coingecko)
Data aggregator, Blockdata has provided evidence that banks are curious about blockchain and
are willing to spend money to find out more. It is estimated that close to $3 billion was
invested by the 100 largest banks into blockchain projects and company’s in mid 2021. This
is over half of the worlds largest banks by funds under management. Chain token which
was founded in 2014 has received funding from NASDAQ, Citigroup, Capital One, Visa and more.
Their mission is to enable a smarter and more connected economy from assisting organisations
to build better financial service from the ground up, according to their website. Chain
(CHN) not to be confused with Chainlink (LINK) was acquired by Stellar (XLM) the 29th ranked
crypto according to Coingecko, in 2018 for what was one of the largest M&A deals in blockchain
history reaching $500M. The network in Dec 2021 announced their flagship product Sequence
was now market ready for their institutional and business clients. Chain is positioned
well with low competition for it’s services, Chain’s novel software veer away from issues
surrounding the use of public network blockchains that require smart contracts to be used for
creation of financial products.
The price of CHN is $79.99 down 10.3% today during the Asian mid-session over the last
30 days the price of CHN is down 24% (Coingecko)
More information about Chain token can be found via their website chain.com or from
Twitter, Medium, Telegram and Instagram.
Giving Tesla a run for their money, INDI EV are known as the future of smart mobility
formally their business name is Independent Electric Vehicle (INDI EV), are Los Angeles-based,
specializing in next generation electric vehicles, with their flagship INDI One car which retails
for about USD$45k will enable a new mobile blockchain functionality. The company’s
first model, INDI One, is a smart electric car with the sector’s first Vehicle Integrated
Computer (VIC), a supercomputer capable of AAA gaming, supporting all metaverse systems.
“The future of electric vehicles can potentially be so much more than a mode of transport.
In pursuit of this vision, we looked at the latest emerging technological trends as applied
to our vehicle’s strengths and discovered an opportunity to integrate blockchain technology
directly into our vehicle.” says Andre Hudson, INDI EV Head of Design.
Now we’ve reached the time for a short break, after the break we’ll investigate
into Singularity DAO, XYO Network the geospatial blockchain and what iheartradio is doing with
NFT’s.
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Welcome back to the Crypto Buzz, I’m Sage.
According to 2021 Software Supply Chain Security Report, researchers from Argon
discovered attackers held a focus on open source vulnerabilities, code integrity issues,
and exploiting the software supply chain process and supplier trust in the distribution of
malware. Compared to 2020 there was a 300% increase in malicious attacks on supply chains.
Blockchain technology is emerging into supply chain security and agritech in full force
to aid in the manipulation of data and food security. This puts company’s like Coincover
in the spotlight. Coincover, is a world leader in protection for cryptocurrency, have a growing
client base of over 120 businesses across the entire crypto ecosystem. The company that
saw rapid expansion from just 12 to 50 employees within 6 months have have added three additional
senior management team members to manage the explosive demand for cryptocurrency protection
technology. “Cryptocurrency adoption grew at a furious rate in 2021, with 25% of the
world’s fastest growing brands this year being crypto related.1 The coming year is
poised to be another banner year for crypto growth and investments. said David Janczewski,
CEO at Coincover. “Our goal is to make crypto safer for everyone to hold and use. He added.
SoftServe, a digital authority leading the way in cutting-edge technology, is backing
the AI sector growth expected over the next 5-10 years. It has partnered with SingularityDAO in
the aim to bring enterprise-grade computing solutions to the Defi and Blockchain space.
SingularityDAO brings AI-powered portfolio management to the crypto space with a more
democratized philosophy than the traditional hedgefunds, allowing the retail investors
to get a piece of the pie. SingularityDAO has a unique product offering that predicts
market conditions using AI tools. This advanced substack for crypto and DeFi market analytics
will help in inform decision making processes. “SingularityDAO’s mission of democratizing
hedge fund quality tools is not an easy one,” said Marcello Mari, CEO of SingularityDAO.
“It requires the expertise of some of the world’s top players in data science, engineering,
and infrastructure building.
Singularity DAO uses Singularity NET’s cutting edge blockchain technology that works as an
AI marketplace. Closing the gulf between the developers and the distributors.
The price of Singularity NET (AGIX) is $0.1307 during the Asian Mid-session down 7.1% in
the last 24 hours and over the last 30 days it is down 37.9% and over the last 12 months
it is up 47%.
Check out my video on Trending AI software stocks available at Kalkine Media’s YouTube
channel for more information on AI.
Whilst we are deep diving into other emerging technology how about the introduction to space
tourism we’ve witnessed in 2021? XYO Network the geospatial blockchain who announced their
listing on popular crypto exchange Huobi recently. XYO coin is the decentralized network grunt
powering devices that use anonymous methods to collate and verify geospatial data, preventing
inaccurate or fraudulent data. XYO has had a huge year of expansion in 2021 with many
new exchange listings, increases in price, trading volume and market cap. The network
operates in over 125 countries and has rapidly grown into one of the most sprawling blockchain
node networks in the world.
XYO is priced at $0.0203 being down over the last 24 hours 5.5% and over the last 30 days
it is down 46% and over the last year it is up 7776% (Coingecko)
Now for the NFT’s as we wind up the show.
-iHeartMedia, the leading audio company in America, announced today an important next
step in extending its presence into web3 and the metaverse, beginning with plans for the
creation of iHeart events and experiences for listeners and music fans on Roblox (NYSE:
RBLX), a global platform bringing millions of people together through shared experiences,
and committing to launch tokenized communities for its users and creators. iHeart will also
use its industry-leading consumer reach of over 90% of Americans every month and strong
engagement to create the awareness and demand necessary to bring new metaverse and web3
platforms to the mass market.