Welcome to the Crypto Buzz by Kalkine TV I’m Sage and today’s show is going to be action packed.
With the substantial growth in the mainstream adoption of crypto, we’ve seen the funds invested
reach into trillions of dollars and it seems a lot of that is due not only to institutional
investment but from the adoption of DeFi systems of investment, more about that later. In today’s
show we’re going to look at why blockchain interoperability is becoming more important,
we’ll investigate into Quant, Secret Network’s new mainnet announcement,
making them part of the interoperability gang, and KardiaChain,
However, it seems the emergence of the new Omicron, vaccine prone, Covid-19 variant
seemed to thrash the crypto market over the weekend. With Ethereum
the 2nd largest crypto by market cap going below $4000 to USD$3995 26th Nov.
Today the price of ETH during the Asian market mid-session is at $4465.60 being up 2.77%,
the charts are showing bullish signs for ETH which could be setting up for a new all time high
near the $5000 region. The price of ETH and BTC do seem to echo eachother more often than not.
Bitcoin has been sideways the last few days stuck in a channel between $54k and $59k.
Some analysts believe that Bitcoin could be being pumped by the crypto bulls, it was reported that
Microstrategy has purchased 7002 bitcoin worth $414.1 million. Some analysts are expecting a
surge in the price of bitcoin which has been down about 6% over the last 30 days. However a
correction or dip could come quite quickly after that. Today the price of Bitcoin is at $57421
being down during the Asian mid-session by 0.2% however over the last 12 months it is up 216%.
Other big news this week is that Jack Dorsey has stood down from the top seat at Twitter,
a huge resource for crypto news and updates. He leaves the big ole social media juggernaut
to be helmed by Twitter CTO Parag Agrawal. Jack Dorsey will continue with his main project Square,
the financial tech company, that has reportedly purchased
$500million in bitcoin. Interesting to note that Twitters share price rose 10%
on the back of the news that founder and former CEO jack Dorsey has renounced his position.
Singapore also had some big news as it proves it may have what it takes to be a financial crypto
hub for the Asia Pacific. It was reported by Coin Rivet that The Singaporean government
has approved a physical fund. Regulated by the Monetary Authority of Singapore (MAS),
financial services company Fintonia launched two funds Fintonia Bitcoin Physical Fund
and the Fintonia Secured Yield Fund. Chairman of fintonia says the fund will allow investors
a quick safe and cost-efficient method of investing into btc. Investors will
be buying actual bitcoin rather than the more risky version of bitcoin derivatives.
Since Commonwealth Bank of Australia announced their pilot platform will allow investors to
trade, hold and buy a handful of cryptos, how crypto can be advantageous for the financial
institutions has come into the spotlight. More importantly after the news broke that Westpac
one of Australia’s big 4 banks has been charging fees to clients unduly such as those who are known
to be deceased. Could now be up for 6 lawsuits involving ASIC, Australia’s financial watchdog.
Here’s the chance for DeFi to showcase how it’s underlying blockchain technology could
provide some promising use cases using digital currencies in the disintermediation of financial
institutions. So just to recap, blockchain is a decentralized ledger that records transactions.
For financial services providers blockchain could provide faster and cheaper transactions, greater
security and the use of automated contracts. It’s only the beginning for blockchain technology,
but companies like Deloitte, an accounting firm for the big 4 banks,
have advised they will be using Singapore based AVA labs, Avalanche blockchain to
develop their new Close As You Go platform to help US state and local authorities to
manage disaster recovery reimbursement through Federal Emergency Management Agency (FEMA).
Avalanche AVAX is blockchain that is touted for big things throughout 2022 due to it’s enabling
of tailor-made application specific blockchains revolutionary interoperability putting it in
the same league as Polkadot (DOT) and Cosmos (ATOM) during the Asian mid market session,
the price of AVAX is at $122. Being up 96% over the last 30 days and 3198% over the last year.
We’ve reached the time for a short break, but after the break we’ll take a look into the best
blockchains for interoperability and transaction processing.
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Welcome back after the break, I’m Sage and you are watching the Crypto Buzz by kalkine TV.
Before we take a look at some notable blockchains for interoperability lets take a closer look at
blockchain transaction speeds, as this is an aspect that is of interest to financial
institutions, as well as the cost-effectiveness of transaction processing via blockchain networks.
Solana seems to reign supreme in this regard at present. Solana is a fast growing blockchain
now ranked in the top ten cryptos Solana is able to process at it’s peak 65,000.
Solana’s capabilities exceed that of both Bitcoin and Ether. Bitcoin only processers
3-5 transactions per second and Ethereum manages about 10-15. In regards to credit cards working
at the speed of about 1700 transactions per second it leaves plenty of room for improvement. However,
Bitcoin’s Taproot upgrade that occurred earlier this month could allow for more scalability. We’re
bound to see more financial institutions testing the capabilities of blockchain in the near future.
The most well known Blockchain protocols for interoperability are Cosmos and Polkadot and
Ethereum’s Polygon. Today’s show will focus on Secret Network, Quant and KardiaChain.
Secret network (SCRT) ranked #116 by Coinmarketcap, announced on their Twitter feed
that they have joined the blockchain interoperability crowd enabling ATOM,
OSMO, LUNA and TERRA’s stablecoin, UST with more opportunities coming soon. Secret is
a blockchain providing data privacy for smart contracts which allows the construction and use
of applications that are both decentralised and privacy-preserving. They are also releasing today
SecretDogsNFT with the ability to win the chance to design one of 185 NFT secret dogs head to their
Discord page – Stashh – Secret NFT Marketplace or Twitter.com/SecretNetwork to get involved.
The price of SCRT is down today 3.54% at $6.04
and over the last 30 days it is down 32% but over the last 12 months it is down 1408%.
Quant is another interesting blockchain that has surged over the last 12 months
by 1599%. November has been a big month for the Quant camp with an announcement regarding Quant’s
Overledger to deliver interoperability for Oracle Blockchain platform. Which shows that Quant is
a formidable force in the interoperability and scalability of blockchain technologies. Gemini
DEX has also just listed Quant $QNT this month, the Quant team are also looking for
more people to join them as they are hiring, send them your C.V – recruitment@quant.network
At the time of writing this report QNT is down 1.4% at $206.56 and has
been down over the last 7 days 5.7% and over the last 30 days it is down 25.9%.
KardiaChain (KAI) had some big news when it’s CEO Mr Huy Nguyen this month was commended in
Vietnam as one of the top 10 technology leaders. Also announced this month from the kardiachain,
is that artificial intelligence exchange platform Bibox365 has integrated with Kardiachain. They
have also processed their 20 millionth transaction via the chain and even more thrilling news from
KAI is their listing on Coinmarketcap just this week. KardiaChain is aiming to be fully
interoperable, connecting cross-chain interoperability without the need to
make technical modifications to the cross-chain protocol.
KardiaChain is down 0.8% at the time of writing $0.1148
and over the last 30 days it is up 82% and over the last year it is up 626%.
Truly there are so many more blockchains we could speak of regarding interoperability today’s picks
are just to keep you abreast of some alt-coins that are pulsing in the space this month,
to keep on watchlist but as always do your own due diligence you deserve to invest as
much time into research as you do the money you are investing into your digital assets.
Many firms are pursuing a wait-and-see strategy others are diving into testing
it’s functionalities and integrating API Application Programming Interface,
but timing is everything when you are launching into new terrain.
For the retail investors the most important thing is to manage your risk when investing in highly
volatile markets such as cryptos and it’s good advise not to put all your eggs in one basket.
Blockchain technology is developing at a fast rate and if you are looking to take a safer route
and invest into it for the long term, only invest money you can afford to lose,
in the hope that that won’t happen. Buy low, sell high, and look for the upcoming trends,
which is what my research and this show aims to help you do.
The institutional backers of cryptos will also be attempting to convince all stakeholders
of the benefits of crypto and that they outweigh the risks. The next 5-10 years
could prove to be an apex where the retail and institutional investment into crypto surges
to levels that have not been seen before.
Thanks for joining us for this weeks Crypto Buzz and keep watching
Kalkine TV for more market updates and expert talks until the next episode.
Sage signing off
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