IEO project Cartesi token grows 550% after listing

IEO project Cartesi token grows 550% after listing on Binance

Initial exchange placements or IEOs, which became the rebirth of the ICO model in 2019, show unsatisfactory results when choosing for long-term investments, analysts managed to find out earlier. However, investors still have the opportunity to grow their assets if they prefer quick action.

Binance summed up the latest IEO Cartesi on Wednesday and today listed CTSI on its platform. At the very first candle, the token price shot from the starting $ 0.015 to $ 0.098, that is, it rose by 550%.

As expected, after that the price corrected, but even at the time of publication, being at the level of $ 0.069, it exceeds the initial one by 360%. The previous IEO Binance Launchpad, conducted by the WazirX (WRX) project in February, showed a 700% gain at the start of trading.

Earlier, Binance changed the IEO model, abandoning the live queue format in favor of a lottery for a fairer distribution of tokens among participants. This same feature, however, prevented most investors from participating in IEOs with a significant portion of their assets.

7,500 tickets were won, which is only 4.82% of the total. 22,169 users took part in the campaign, and only 33.18% of them had at least one winning ticket. Also, the volume of funds attracted by Cartesi played a role - only $ 1.5 million, which is not much for such a popular platform as Binance Launchpad.

For comparison, 7.31% of tickets were winning on IEO WazirX, and 22.57% on the previous IEO TROY.

Binance Coin is trading at $ 15.65 this Thursday, having experienced a 15% gain over the past two weeks amid the IEO announcement and another quarterly token burn.

Delphi Digital: Bitcoin Prepares For $ 7,200 Breakout But May Be Hit By Volatility In Traditional Markets

Analytical company Delphi Digital has presented a new report on the state of the cryptocurrency market. According to analysts, the situation on the bitcoin market is changing to a bullish direction and may indicate a "potential break" of the $ 7,200 level. On Wednesday, bitcoin climbed above $ 7,000, where it manages to successfully hold at the time of publication.

"After several weeks of consolidation, Bitcoin appears to be gearing up for a potential breakout of around $ 7,200 and has found some support at the 50-day moving average, climbing above it late last week," the company writes.

At the same time, Delphi Digital, like other analysts, warns of the potential impact of traditional markets, which have been exacerbated this week by the fall of oil to historic lows.

"The collapse in the oil price has only added to growing negative pressures, while weak demand and evaporating cash flows keep pace with unprecedented measures to support the economy," the company writes. "The dollar refuses to pull out despite all the Fed's attempts to spur the system up with liquidity."

Analysts also pay attention to the volatility of the markets and urge to monitor the correlation of bitcoin with the VIX volatility index.

“VIX is gradually pulling back from fresh record highs of last month, which is usually supported by bitcoin. However, any disturbance in the relative calm could play the role of a short-term negative factor for Bitcoin, if history repeats itself, ”they add.

Tether has printed $ 1 billion USDT in the last 25 days

Tether continues to actively issue new coins. Over the past 25 days, the Treasury has issued over $ 1 billion USDT coins, which is the equivalent of $ 40 million per day.

During the COVID-19 pandemic and the economic crisis caused by the virus, the volume of USDT stablecoins in circulation has registered an unprecedented increase. In terms of the number of days, on average, Tether issued tens of millions of USDT daily.

$ 40 million USDT per day

Members of the cryptocurrency community are used to criticizing traditional monetary and financial authorities for massively pumping liquidity into the economy. So, as of March 28, the US Federal Reserve was printing $ 60 million every minute.

However, even these numbers pale in the face of Tether's sweep. Recently, according to the project's own statistics, the market capitalization of its assets in USDT was $ 7.1 billion. It is noteworthy that the most aggressive growth was observed in the last 25 days, when this indicator increased by about $ 40 million daily.

The company flooded the market with its new USDTs so much that the token began trading at a premium on some exchanges. In general, since the beginning of the year, the size of USDT assets has grown by 56%. Now Tether's share in the cryptocurrency market is over 3%.

Demand growth?

The main catalyst for this trend may be the high demand for stablecoins from cryptocurrency exchanges, and they are not even stopped by doubts about the availability of all USDT with US dollars.

Apparently, in the face of extreme global uncertainty on the crypto market, there is still an increased interest in stablecoins. In all likelihood, they now seem to be a very attractive option for all investors who are afraid of cryptocurrency volatility, but do not want to completely leave the crypto market.

Accordingly, stablecoins, declared as digital assets with a stable value, appear to investors as an island of safety and a kind of bridge between virtual and fiat currencies.

As of April 19, the size of assets in USDT on crypto-exchanges was $ 1.6 billion. However, it should be emphasized that all this growth in demand did not in any way affect the indicators of trading volumes. This once again indicates that investors are taking a cautious and wait-and-see attitude by simply parking their funds in stablecoins.

Beam devs to hold second hard fork on June 28

The developers of the anonymous cryptocurrency Beam have planned a second hard fork on June 28 to update the PoW algorithm from Beam Hash II to Beam Hash III.

Beam management announced that the hard fork will take place at block 777 777. The new algorithm will support anonymous assets, one-way payments, and also activate the Lelantus Mimblewimble protocol for transactions with a high level of confidentiality. In addition, BeamHash III will maximize the power of GPU miners.

Beam Advisor Guy Corem has notified users that a test version of the hard fork will be presented a few weeks before the launch on the mainnet, depending on the block generation time. Beam plans to release Node binaries and Desktop Wallet by the end of May. As soon as possible, Eager Electron 5.0 will appear to automatically switch to the BeamHash III algorithm when the corresponding block height 777777 is reached, so that the hard fork will pass "painlessly" for miners.

Users are advised to update the software to version 5.0. Earlier versions of the Beam wallet will stop working after the hard fork, but users will still have the option to update their wallets to access their coins.