Fidelity’s Jurrien Timmer: BTC Will Reach $100K in The Next Couple of Years

Jurrien Timmer – Fidelity’s Director of Global Macro – believes bitcoin will trade at $100,000 by 2023. Regarding its correlation with gold, he said both assets are “different players in the same team.”

The Road to $100K

Bitcoin’s price has been, and most probably will remain, one of the hottest topics in the cryptocurrency space. Future predictions are also frequently discussed, and the end of 2021 is the next time target, which many proponents and analysts see bitcoin tapping $100,000.

Such is the case with Bloomberg’s Senior Commodity Strategist – Mike McGlone. Last month, the expert took into account bitcoin’s growing adoption and declining active supply to predict that it will land at $100,000 by the end of 2021.

Jurrien Timmer – Fidelity’s Director of Global Macro – also believes BTC could go into a six-digit territory, but his timeframe is larger. In a recent interview with CNBC, he indicated that BTC’s USD value will have five zeros by 2023:

“I have a supply model and a demand model and the next and last time that those two models intersect is at around $100K in a couple of years.”

Timmer also touched upon another popular topic – the correlation between the primary cryptocurrency and gold. He said the two assets are not competitors but “two different players in the same team.” However, he would actually prefer to compare the cryptocurrency with the multinational tech giant – Apple:

“I’ve got another study where I compare it actually to Apple’s network, its valuation, and its size.”

Jurrien Timmer, Source: Twitter

BTC And The Dollar

On another note, Timmer opined that bitcoin will remain connected “in some way” to the American dollar. He added that, as of the moment, the leading digital asset is “kind of clunky, slow, and not very stable.” As such, it does not threaten the dominance of the US national currency:

“I really don’t think bitcoin threatens the dollar or the dollar’s reserve status. I don’t think the dollar’s hegemony as a reserve currency is at risk at all.”

Fidelity’s Director also mentioned the two assets last month when airing his thoughts about El Salvador’s bitcoin adoption. He called the country’s decision “new and interesting development,” but believes the significance of it is “a little bit overplayed:”

“It’s not like El Salvador has dropped the US dollar as its peg – it’s not like it switched from dollars as its currency peg to Bitcoin. It still has the dollar, and people can decide to be paid in dollars. So, this is a voluntary thing essentially.”

Cardence Announces Upcoming IDO – SpinADA

[PRESS RELEASE – Please Read Disclaimer]

Cardence is excited to announce its up-and-coming IDO – SpinADA.cash – which among many features boasts fully anonymous transactions on the Cardano blockchain.

SpinADA.cash is a fully decentralized protocol for private transactions on Cardano, which breaks the on-chain link between senders and receivers of Cardano native tokens on the blockchain. This gives complete privacy and security in a completely decentralized manner.

SpinADA.cash uses a Zero Knowledge proof protocol known as zk-SNARK , developed by the good fellows at Zcash, and firstly implemented by tornado.cash on Ethereum, to ensure secure anonymous transactions of Cardano assets on the blockchain.

It features a Smart contract that accepts Cardano tokens and then allows anyone with proof of knowledge to withdraw those tokens through the use of Cryptographic keynotes.

When a sender submits a transaction, he receives a key note and a corresponding hash is received by the Smart contract. When a withdrawer furnishes the right key note, it is matched with the hash to output the corresponding submitted tokens.

Protocol parameters will be governed by the community. A trusted setup ceremony for zk-SNARK will be organized through community participation to further decentralize the protocol.

SpinADA is the latest offering from the game-changing Cardence.io platform, which allows investors early access to invest at IDOs, before public release. Cardence is a guaranteed allocation IDO platform for Cardano projects. A minimum of 4000 $CRDN needs to be staked to get allocation for IDOs.
The IDO goes live on the 27th Oct 1400 UTC and can be entered at Cardence.io.

More information on SpinADA is available on spinada.cash or join telegram group.

About Cardence

Cardence is a Cardano-focused, multichain decentralized presale platform that creates a trustless fundraising ecosystem. It is running on BSC right now. It is the first presale platform that facilitates affiliate marketing of projects, the release of tokens according to a vesting schedule, whitelisting of participants, and auto-locking of liquidity.

Additionally, dApps like SmartMint or Locker App allow for the creation of new tokens without writing any code and time-locked token vaults for the release of tokens according to a vesting schedule.

SecuX Hardware Wallets Releases BSC Support and Firmware Update App on Mobile

[PRESS RELEASE – Please Read Disclaimer]

SecuX hardware wallet users can now manage their Binance Smart Chain BSC BEP-20 tokens on their iOS mobile devices on SecuX Mobile App! After the release of BSC support on the company’s web application SecuXess in late July, 2021, users have been anticipating its native support on the iOS app, due to high demand of the chain’s application on DApps via WalletConnect, which is also supported by its iOS mobile app with Ethereum ETH.

Apart from checking balance, receiving and sending crypto assets, support of both Ethereum and Binance Smart Chain on the iOS SecuX Mobile App, means that users can explore an even wider range of DApps and networks via WalletConnect. Popular BSC DApps such as Pancakeswap, Venus Finance and Autofarm Network can be accessed from SecuX wallets directly on WalletConnect when using iOS SecuX Mobile App, as well as renown ETH DApps platforms like Opensea, Rarible and Uniswap.

SecuX also launched its dedicated update app for iOS and Android device firmware, allowing users to update their SecuX device firmware via Bluetooth connection. Previously only available with USB connection and Chrome browser on the company’s web application SecuXess, causing mobile users to switch between different platforms. Now with the latest addition, SecuX Firmware Update App provides a fast, safe and easy firmware update process via Bluetooth connection for SecuX V20 and W20 hardware wallets. The interactive, built-in, step-by-step guide prepares users to follow instructions, and complete firmware update in just a few minutes.

BSC Binance Smart Chain and WalletConnect

BEP-20 is a Binance Smart Chain token standard owned by the Binance Organization, and together with ERC-20 standard which is owned by and created on the Ethereum Foundation, are the two most popular standards preferred by developers to create compatible and interoperable tokens.

WalletConnect is an open source protocol for connecting decentralised applications to wallets with QR code scanning or deep linking. SecuX Mobile App users can scan the QR code provided by WalletConnect and access many popular DeFi apps using the funds they own in their SecuX hardware wallet.

SecuX

SecuX Technology Inc. is a Blockchain Security Company devoted to developing comprehensive solutions to secure valuable digital assets through blockchain technology. With strong supply chain management and flexible design capability, we also offer tailor made products for a variety of digital asset management applications.

Bitcoin Tapped $63K Amid Latest ETF Developments: BTC Dominance at 3-Month High

The latest developments in the US claiming that a Bitcoin ETF might be just around the corner pushed the cryptocurrency to $63,000 hours ago. Most altcoins have failed to follow their leader north, and the BTC dominance reached a near three-month high.

Bitcoin Came $2K Away from ATH

On October 13th – just three days ago – the primary digital asset had dipped below $55,000 after getting rejected at the $58,000 level. The situation quickly changed in the following days, and BTC headed north towards new multi-month highs.

At first, bitcoin neared $58,000 once more and, after a few more attempts, managed to overcome it decisively. This came amid reports that a Bitcoin Futures ETF could launch in the US as early as next week.

While the Securities and Exchange Commission is yet to publish an official confirmation of this, the rumors intensified on Friday, which propelled another leg up for BTC.

This time, bitcoin shot above $60,000 and kept climbing. This culminated hours ago when the asset came just inched away from $63,000 – or roughly 3% away from its April all-time high of $65,000.

BTC has retraced by a few thousand dollars as of now, but it’s still well above $60,000, and its market capitalization stands north of $1.150 trillion. Its dominance over the altcoins has tapped a near three-month high at 47%, as most of them trail behind.

BTCUSD. Source: TradingView

ETH Eyes $4K: DOT Up by 7%

As mentioned above, most alternative coins have lost some ground against bitcoin lately, but they are still well in the green against the dollar. Ethereum had dropped below $3,500 days ago but currently trades at almost $3,900.

Binance Coin (3.5%), Cardano (1.5%), Ripple (1%), Dogecoin (3.5%), Terra (1%), and Litecoin (4%) have marked some gains on a 24-hour scale. Polkadot has trumped all others with a 7.5% increase to above $43. This came just days after the project made a massive announcement in regards to its parachains.

Solana is the only top 10 coin with a sizeable price decline since yesterday, with a 3% drop to below $160.

Cryptocurrency Market Overview. Source: Quantify Crypto

 

More gains from The Graph (17%), Amp (15%), NuCypher (10%), and ICP (8%) helped the crypto market cap to top $2.5 trillion briefly. Thus, the metric came inches away from charting a new all-time high as well.

Nervos launches cross-chain bridge to connect Ethereum and Cardano

Nervos today announced that the Force Bridge is now live on the mainnet. The Nervos Network is a collection of protocols and public blockchain ecosystem aiming to solve the various challenges facing blockchains like Bitcoin and Ethereum today.

The Force Bridge is currently connected to Ethereum through a cross-chain bridge and will be connected to Cardano and other EVM and non-EVM public chains in the future, such as Bitcoin, TRON, EOS, and Polkadot.

The Force Bridge is a trustless cross-chain bridge that allows for seamless transactions between the Nervos ecosystem and other public chains, making it easier for developers to expand their dApps and user base to the Nervos ecosystem.

Currently, the bridge supports ETH and whitelisted ERC-20 tokens, including Dai (DAI), Tether (USDT), and USD Coin (USDC), with more tokens to come in the future. No CKB, the native token of the Nervos ecosystem, is required to transfer assets to Nervos via the Force Bridge. 

How the Force Bridge Works

While most cross-chain bridges require multiple steps before an asset can be moved, Force Bridge requires only a simple contract deployment to begin asset movement to a user or decentralized app (dApp).

When users send assets from Ethereum using the Force Bridge user interface (UI), the asset gets locked into a multi-signature wallet on Ethereum. Corresponding tokens are then minted on Nervos and sent to the corresponding users’ wallet addresses. 

To ensure the safety and security of assets as they move cross-chain, the Nervos community formed a Force Bridge committee to ensure that the smart contract wallet is secure on Ethereum. 

“The Force Bridge plays an integral role in our suite of multi-chain solutions, which are aimed at creating Universal Applications that transcend individual blockchains,” said Kevin Wang, co-founder at Nervos. “With the recent launch of some of our other multi-chain solutions, Polyjuice and Godwoken which were tested during our recent Hackathon, and now the Force Bridge, we’re making important progress in our roadmap and moving closer to a truly interconnected blockchain ecosystem.” 

Earlier this year, Nervos announced it would connect to Cardano, the latest project in an existing research collaboration between Nervos and IOHK. Once completed, it will be the first cross-chain bridge to Cardano, allowing users to use Nervos and Cardano’s native currencies ($CKB and $ADA, respectively) interchangeably, as well as create their own tokens (user-defined tokens) across both blockchains.

As Nervos moves closer towards its vision for an interoperable blockchain ecosystem—or Interoperability 2.0—users from other chains will soon be able to use their wallets to trade in the same liquidity pool on CKB with Yokaiswap, the first interoperable AMM, DEX, Yield Farming, and Staking platform in the Nervos ecosystem. Additionally, the project is developing an update to transfer $CKB to Ethereum as wrapped $CKB (wCKB).

Kevin added, “Progress on the blockchain is an iterative process. As we continue to make headway on the Force Bridge and our multi-chain solutions, we look forward to receiving feedback from the community.” 

The post Nervos launches cross-chain bridge to connect Ethereum and Cardano appeared first on CryptoSlate.

MobiePay Rebrands into Mobie Network to Broaden the Scope of Technologies and Products

MobiePay, a popular service that aims to bridge the gap between blockchain and the mainstream, has recently announced a major change of its brand. The project has now changed its name to Mobie Network.

Initially, the project started off as MobiePay, in order for people to know what type of project the team is developing and what kind of service they plan to offer. However, as the development continued, the project decided to broaden the scope of different technologies and products that it aims to build and offer.

But, with all the new products in the pipeline, the name MobiePay no longer does it justice, indicating that the project offers less than what it actually has. As a result, its team decided to rebrand into Mobie Network, which is expected to help with more utility within their platform.

The change will also help build the Mobie ecosystem into a proper network, instead of being simply a payment/banking functionality. On top of that, the project will also enhance its products with other on-chain and off-chain products.

The project’s ultimate goal is to turn its Mobie Network into a hub for all of the crypto-specific innovation that is encompassed under the Mobie umbrella. This is meant to include everything, from MobieSwap, Mobie Bridge, the token side of the app, staking and rewards functionalities, the tokenized community, and more.

What Innovations are Coming with Mobie Network?

Mobie Network will also build mainstream products with blockchain by bridging the gap between user experience and this emerging technology. One way to do it is to provide a more personalized payment experience. Specifically, the project will offer a personal and business finance app that will be available on the web and mobile alike. Next, they aim to offer an efficient and dependable gateway for crypto and fiat currencies alike.

This will allow them to handle anything, from checkouts to transfers. Mobie Network also plans to get involved in gaming payments. Crypto and gaming have been a great match for years now, and Mobie Network can contribute to that relationship further by bringing innovative payments, data, and sophisticated analytics.

Speaking of analytics, the firm is bringing consumer and market insights to those who need it, and in doing so, it can help drive loyalty and conversions for retailers in any industry.

Finally, with the NFT sector exploding in 2021, it is not surprising that Mobie Network is eyeing that space as well.  In terms of NFTs, it will support users with creation, purchasing, storing, or swapping them, with all of the transactions being effortless, efficient, and with a seamless interface.

Of course, the network will continue to allow users to spend, send, earn, or give cash or cryptocurrencies instantly. There is a clear advantage to being able to do all of this from one spot. However, Mobie Network is going even further than that now, offering users to use crypto for everyday purchases, it offers incentives for adoption and growth through cashback and affiliate revenue, and it simplifies payments for the merchants, making it easier for them to start accepting cryptocurrencies.

In doing so, merchants stand to become a part of an extremely popular emerging crypto industry and increase the number of customers through inclusiveness.

Conclusion

All in all, MobiePay was an important chapter in the project’s history, but now it is time to take the next step, and Mobie Network is the working name for this new segment of the company’s history.