Today the Value Network project is known as the decentralized binary options platform offering lucrative opportunities to users, P2P betting and price oracles.
Cryptocurrency is a land of emerging opportunities, and there is no test shortage of examples to support this statement. The new players strike hard as has recently been indicated by the decentralized binary options provider — the Value Network product enjoyed the token price skyrocketing a short time after its MVP launch.
Crafted on top of the distributed ledger technology, a new version of the popular financial product is looking more exciting than ever before by offering thrilling options to the platform’s clients. The VN team unveiled its MVP running on the perspective Qtum blockchain, which defines the modern blockchain economy. Before the team was using only Ethereum blockchain. The cryptocurrency community was undoubtedly excited by the Value Network product as the 200x growth on the largest DeFi protocol – Uniswap – within a single day was a welcoming sign that few projects ever experienced. The initial listing was announced in early January, allowing users to participate in 6 pairs with liquidity reward programs (before it was only 1 pair).
Unusual Bumpy Road to Success
The platform’s first version was built back in 2018 when its CEO and founder Artem Levin came up with the concept of a crypto-backed loans platform running on the most popular platform – Ethereum. After meeting certain challenges of the dynamic crypto market, searching for a rejuvenation pill resulted in a change of original direction. In autumn 2020, the Value Network came back with a bang, aiming to hit DeFi user’s hearts. And it did.
Today the Value Network project is known as the decentralized binary options platform offering lucrative opportunities to users, P2P betting and price oracles. By leveraging the blockchain, it became possible to fix the long-time inefficiencies of the niche.
While most of the existing platforms offer questionable user experience, VN’s product allows betting against each other without any conflict of interest! The developers surely know the user’s pain as the UI interface was designed to minimize hassle – quite an extraordinary example, taking into account that many other blockchain prediction markets can’t be proud. Users can also monitor changes in bet price that depend directly and replace their bets at any time for the additional fee – such flexibility is often wanted but rarely offered.
In the heart of Value Network is the VNTW token which defines the whole ecosystem. Among its features can be mentioned as access to the exclusive markets, lowering commissions on the trades, creating the new markets, staking, and securing the pre-timing escape of the deal. Next, Value Network offers the platform’s advertising possibilities to everyone interested.
The current market situation favors the clients since it is possible to make a bet and win percentage depending on the market (up to a few hundred percents) later trading these options back and forth before expiry happens! Platform traders can also create their own markets by staking VNTW and facilitating trading.
Today’s Milestones and Tomorrow’s Plans
The first success inspires to go forward with confidence. There are also ideas to experiment with DAO mechanics for the VN’s community at some point in the future.
The next ambitious target to hit is the NFTs market, which is a real trendsetter of 2021. The team plans to use NFT for management, for example for voting at the board. How it plays out and what final options will be implemented is to be seen as there is no ETA for this ambitious task.
The VN’s roadmap is publicly available to reassure users of the platform’s transparency. There are also plans to bring the firm’s decentralized binary options trading experience to the mobile segment to broaden the audience. One of the additional steps to raise awareness is the Whitelabel solutions development and blockchain-based referral systems, which are also planned for 2021.
Summing up other latest achievements, it’s worth noting that the previously announced MVP migration to the QTUM blockchain is now completed, an exciting interview with CEO was published, and the project was also listed on Coingecko.
The next few weeks will surely be hot for the crypto community as the team’s event schedule looks tight. In the upcoming days, the VN crew plans to run several events to attract new users. The next AMA session with Qtum is planned for May 4th. There is also a new liquidity reward program with more details expected in the forthcoming future.
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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.
Mike Novogratz’s Galaxy Digital Announces Acquisition of Crypto Custodian BitGo
4 days ago
May 5, 2021
In a major development, crypto investment management and financial services provider Galaxy Digital Holdings announced the acquisition of popular and leading crypto custodian BitGo. This acquisition adds a feather to the cap of Galaxy Digital that seeks to offer a full-service platform for institutional players. Earlier we’ve already reported that there were such rumors. And […]
In a major development, crypto investment management and financial services provider Galaxy Digital Holdings announced the acquisition of popular and leading crypto custodian BitGo. This acquisition adds a feather to the cap of Galaxy Digital that seeks to offer a full-service platform for institutional players.
Earlier we’ve already reported that there were such rumors. And now they have got confirmed.
Speaking about the acquisition, Wall Street veteran and Galaxy Digital founder Mike Novogratz said:
“The acquisition of BitGo establishes Galaxy Digital as a one-stop-shop for institutions and significantly accelerates our mission to institutionalize digital asset ecosystems and blockchain technology. The power of the technology, solutions, and people we will have as a result of this acquisition will unlock unique value for our clients and drive long-term growth for our combined business. We are excited to welcome Mike Belshe and the talented BitGo team to Galaxy Digital.”
The article will be updated with new information soon.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Dogecoin Price Jumps Ahead More Than Half a Dollar
4 days ago
May 4, 2021
Within the past 24 hours, we have seen Dogecoin (DOGE) jump ahead and grow over 30% in price. With DOGE climbing the crypto ladder at a rapid pace, in the early hours of Tuesday, the coin price reached a new milestone and crossed the $0.50 barrier.
The value of Dogecoin was $0.389421 and reached $0.541900 overnight–a 39% increase in price. As Dogecoin continues to grow in the crypto market, the digital currency has taken observers by surprise who have mocked and joked about coin–an intention by the creator himself. Despite the ongoing jokes, Dogecoin has had the last laugh so far, as it turns out to be one of the most profitable jokes in the crypto realm, as evidenced by the phenomenal surge in just 4 months.
Taking a quick look at how far Dogecoin has progressed since Jan 1, 2021, the coin valued at less than one cent at the time. Now, approaching May 2021, the coin has grown 10,922% and sits at just over half a dollar. However, this rapid turn of events for Dogecoin also points to the coin’s 50% price drop back in mid-April–both signaling to investors to be aware of the quick changes in the crypto market. Influencers also have the ability to alter the market as we observed earlier this year, in February. Elon Musk shared his thoughts on the crypto coin on his social media platform, which reduced almost 25% of Dogecoin’s growth within a few hours.
Dogecoin Popularity Surpasses Tether (USDT)
With Dogecoin’s current market capitalization of more than $52 billion, the cryptocurrency company has surpassed Tether (USDT), Twitter, and U.S. car manufacturer Ford. AssetDash’s data suggests that Dogecoin’s empire is an estimated $52.5 billion, which is $400 million higher than that of Tether as it is currently sitting at $52 billion. Ford’s market value is approximately $45.1 billion whereas Twitter is sitting at $43.1 billion.
There has been speculation that the coin surged because of Elon Musk’s upcoming appearance on Saturday Night Live as a guest host.
To learn more about Dogecoin’s previous successes this year, click here.
Tether Zips Past $50B and Heats Up the Crypto Market
5 days ago
May 3, 2021
Tether (USDT), the world’s largest stablecoin, just reached a market capitalization of $50 billion at the end of April 2021. A definitive sign that the cryptocurrency bull market is warming up, the Tether supply has grown by more than a factor of 10 over the last 12 months. Calculating the breakdown, that roughly accounts for 25% growth in the span of a month.
CTO of Tether Paolo Ardoino, has commented on this success stating, “Crossing a market cap of US$50 billion represents an incredibly important milestone for Tether.” Furthermore, he acknowledged that the success of Tether was a blueprint for a future in the banking system and as a Central Bank Digital Currency. Tether has gained recognition for its pivotal role for the future of digital currency. As the first stablecoin in the cryptocurrency industry, USDT holds a unique position as it is currently the most liquid and often used dollar-pegged token on the market. Additionally, USDT remains one of the top quoted currencies for Bitcoin and Ether trading pairs.
Last month, USDT made up approximately 66.1% of the overall stablecoin market. In comparison, the USD Coin (USDC) is the second-largest stablecoin and is worth just under $11 billion. There has been some conversation and concerns in the crypto community regarding Tether and speculation about its reserves. However, Tether was quick to put concerns to a rest and an assurance report from Cayman Islands-based Moore Cayman provided confirmation that USDT tokens are, in fact, fully backed by reserves.
Not too long ago, Tether had settled an $18.5 million fine with the Office of the New York Attorney General. Allegedly, Tether had misrepresented the degree to which the USDT coins were backed by fiat collateral. Fiat-backed currency is government-issued or government-supported currency. As such, Tether agreed to produce periodic filings, which now proves its reserve status. Thus, the assurance report comes a month after the settlement agreement.
For more information on cryptocurrency growth and upcoming opportunities, click here.
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