Mark Cuban Praises DEX SushiSwap; Now Selling “Personalized, Tokenized Video” on Rarible

The explosion of interest in the NFTs has the trading volumes surging nearly 200% in February to past $7 million.

Billionaire Mark Cuban is all about DeFi and NFTs. Almost every other day, Cuban is talking about the digitized space in which he is personally invested as he revealed that besides Bitcoin, Ether, and Litecoin, which he initially said is worth less than a banana, now also owns AAVE and SUSHI.

In a video over the weekend, he praised the decentralized exchange (DEX) SushiSwap which has been doing more than half a billion worth of volume every day.

Cuban thanked everybody at Sushiswap for making him money while making it easy to yield farm, stake, and swap, all the things that are part of the new future of banking and financial world with DeFi, he said.

He is particularly getting more and more interested in non-fungible tokens, which he compares to his interest in basketball cards but even better. He explained the reason behind investing in digital collectibles saying,

“Once you realize the sense of ownership is the same for a digital collectible as a physical one you come to the realization that holding/maintaining/grading/shipping/buying/selling a physical good is a hassle. It’s fast and easy w digital.”

Cuban is actually hustling on NFT marketplace Rarible, on which he has previously sold his digital piece.

Now, the owner of Dallas Maverick is selling “personalized, tokenized video,” like Cameo but with a twist of the latest technology.

“What’s better than Cameo? A personalized, tokenized video that you can save or sell,” tweeted Cuban.

On buying the collectible video of his, the buyer unlocks an email address that can be used to send a request for a personalized video with a 30 MB file limit. Cuban, in response, records the video, mints it and then transfers the video to you.

While the buyer won’t have any commercial rights on it, they can resell it or keep it forever, “It will be a one of a kind.”

Twitter holder @Pranksy, co-founder of NFTBoxes, has bought 10 of these Cuban videos already. He also gifted Cuban a “Million Dollar Punk Draw ticket.”

As we reported, NFT space is exploding with celebrities like Mike Shinoda jumping in. All of this activity has the weekly NFT trade volumes surging nearly 200% from $1.86 million in early January this year to well past $7 million in the first week of February.

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Author: AnTy

“Young Male” Bitcoin & GME Investors Setting Up for an ‘Explosion’ in Depression: NYU Professor

“Young Male” Bitcoin & GME Investors Setting Up for an ‘Explosion’ in Depression: NYU Professor

Much like young women “became very depressed by sitting in their rooms looking at Instagram,” said Scott Galloway, who also feels these men staring at their phone watching BTC and AMC price are “not having (enough) sex.”

On one side, we have the likes of the billionaire owner of Dallas Maverick Mark Cuban and Social Capital CEO Chamath Palihapitiya, who are calling what transpired around heavily shorted stocks like Gamestop and AMC as a change in the financial system.

On the other side, we have Scott Galloway, a professor of marketing at NYU Stern, according to whom the matter is much simpler — these retail investors on Reddit are actually “young men not having (enough) sex,” he said. It’s just not related to sex alone, either; according to Galloway,

“We are setting ourselves up similar to how there’s a ton of young women out there who became very depressed by sitting in their rooms looking at Instagram, self-cutting and self-harm skyrocket.”

He goes on to say that this will result in an “explosion” of depression in young males only to add further, “it is going to be reverse engineered to apps that convince you, you’re part of a movement or physically addict you to your phone.”

The Biggest Loss of Capital

Galloway started with his theory on Twitter last week when he explained how:

“Arm young men, in a basement, not at work, not having sex, not forming a connection, with an RH account, a phone, and stimulus, and you have the perfect storm of volatility as they wage war against established players while squeezing the dopa bag, harder and harder.”

He further pushed his theory on MSNBC when he said the “biggest loss of capital” is the loss of human capital of “young men sitting and staring at their phone and watching the price of Bitcoin, or the price of AMC.”

Galloway basically wants these young men to form relationships with people rather than be “the person on the other side of the trade.”

Galloway, who has been around the markets for two decades, went on with, “the arc of the market is jagged and irrational, but it typically bends towards reattaching to the fundamentals,” which puts these stocks “much lower,” so “be prepared to lose 80% to 90% of it.”

“The greatest loss in capital here is from young men who are more prone to gambling addiction, who don’t understand the markets.”

It’s nothing new, he said, noting that hedge funds haven’t played out already. Just an age-old contract of “old men” to “stick it to the man and have young people attack the castle so they can get wealthier.”

Galloway is not alone in this; such attempts have been made by wealthier investors since last week. However, this time, the losses were felt by international investors as well as hedge fund Melvin Capital lost 50% of its investment.

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Author: AnTy

Bitcoin Makes a Positive Difficulty Adjustment Hat-Trick Ensuring its Co-Integration with S2F

  • Bitcoin moves above the S2F model value
  • Bitcoin options market seeing “explosion in interest,” from both retail traders and institutional players
  • Open interest in global bitcoin futures increase of 60% in 2020 & BitMEX’s crosses $1 billion
  • “Network is getting stronger,” and next adjustment just like the past three will also be positive

Bitcoin price remains strong as it stays above $9,000 with volume also hovering around $1 billion.

With just 3 months left in the bitcoin reward halving, the market is excited about what this event will bring in for BTC in terms of price. While some remain skeptical about a potential move up, Google search for the term “Bitcoin halving” has been gaining traction since the start of this year.

Already, Bitcoin is above the S2F model value, which sees the price somewhere between $50k to $100k by 2021 end.

Options Market Seeing Lots of Action

In the meantime, Bitcoin options market seeing “explosion in interest,” from both retail traders and institutional players. In the past year, options market volume increased steadily with Deribit continuing to rule the market.

On Jan. 13, 2020, CME launched bitcoin options contracts to rival the products at Bakkt and LedgerX but outpaced its competitors.

Open interest on BitMEX Jumps above $1 Billion

Open interest in global bitcoin futures is also registering a similar explosion, recording an increase of 60% since the start of the year and surpassing $4 billion.

OI, in margin trading, is the total sum of long and short contracts open in the market. Whenever OI reached $1 billion on the popular crypto derivatives platform, BitMEX, the market tends to see extreme volatility.

For the past several days, it has been over $1 billion, which typically happens after an extended rally. However, it also leads to a drop.

“Current Bitmex Open Interest is $1.03B & 111k BTC. $1B OI has always been the barrier. I expect fireworks to start soon (cascading margin calls). I wouldn’t buy here unless we get a clean break above the previous resistance. Stay safe,” said trader CryptoSqueeze.

BitMEX has also recorded $2 trillion since its launch shared BitMEX CEO Arthur Hayes on Twitter.

“The XBTUSD swap just crossed $2 Trillion in total volume traded since it launched in 2016. I’ll drink to that!,” he wrote.

Meanwhile, Network Getting Stronger

Moving onto the fundamentals, the USD volumes processed on the Bitcoin blockchain recorded its highest level since the 2017 bull run at $3.5 billion.

However, about half of these volumes were because of a single exchange. Bitfinex was responsible for $1.7 billion of it, which was done in parts to reorganize their finances as Paulo Ardoino, CTO of the crypto exchange Bitfinex and Tether shared with the community.

Another positive development has been in difficulty adjustment. Popular analyst PlanB notes that the last difficulty adjustment on Jan. 29 of 4.7% was the third positive adjustment of the year after +6.6% on Jan. 2 and +4.7% on Jan. 16.

Difficulty adjustments are made in relation to the hash rate. They are trying to keep with a lot of hash power being added by miners to the network as seen in the regular all-time highs (ATH) made by hash rate.

“Network is getting stronger,” said PlanB adding, “Next adjustment will also be positive.”

“Without this level of security bitcoin price would not be cointegrated with stock to flow. This level of security is needed to protect bitcoin against state level attacks, which is needed because states will destroy our money (Zimbabwe, Venezuela, US/EUR/JPN: QE & NIRP),” explained PlanB about Bitcoin needing this extra security.

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Author: AnTy