NEWS: Major Sponsorships, Apple buying BTC? and more DeFi Gems.
Welcome to the latest episode of Ashton's insider crypto newsletter!
The Crypto markets are still going sideways in capitulation for the most part, since the '“crypto crash” of late May. With Bitcoin sitting just above $31,000 and ETH just above $1900 USD. Many traders still have fear that the markets may continue to drop.
I heard in my group chat some newbies talking about a 90% drop and the whole crypto altcoin market crashing with it. It's funny how when bitcoins 65k Everyone's lining up to buy it, and once the market retraces 50% and BTC is on sale, everyone is scared and no one wants to buy.
Birbicator showing Bitcoin likely down on the 1 Day, but the last signal on candles being a Buy.
Don't get me wrong, I do expect Bitcoin to drop a bit more in the near future, with some final shake outs for the weak hands. But after that, I anticipate a raise to new all time highs before the end of 2021. Until Bitcoin breaks its trend and raises above 40k with a confirmed support, it’s likely not time to be buying most lower cap altcoins. There are exceptions though…
Case in Point: One of the better projects I interviewed last month, Bumper Finance with Jonathan DeCarteret, Just released their Liquidity Provider Program today. They managed to lock in over $8 million in liquidity in the first few hours, putting them in the top 100 DeFi TVL’s on PulseDeFi, although they're not listed there yet because they're so new.
With Bumper, you're depositing USDC stablecoin and will earn bumper tokens. As a reward, the current APY is 280%. Check it out here! https://app.bumper.fi/
Bumper’s application actually works well in bearish and capitulating markets because it allows you to hedge your risk in taking out contracts that allow you to set, stop losses for your positions that only need to be executed if you go out of the money.
I will continue to follow bumper as it grows and expect to see the APY drop a bit as projects when even more capital flows into the platform. The earlier you contribute, the high APY you can capitalize on.
Another DeFi platform, which just launched their Beta is Formation.Fi. Formation has done really well in this so called two month “bear market” of 2021. Read more about their Beta here: https://formation-fi.medium.com/beta-the-bedrock-for-balanced-portfolios-built-on-defi-and-web3-44066f537d5f
In industry news, Crypto.com launched a 10 year partnership with the UFC! The largest partnership ever completed. all UFC athletes will wear crypto.com branding on their jerseys, branding in and around the octagon. This is a great complement to the $120 million dollar partnership from FTX exchange, who recently rebranded the Miami Heat arena.
Crypto has hit the mainstream and will be seen by millions in multiple major league sports. Time to orange pill the sports fans!!
In other news/rumours, Apple MAY have bought Bitcoin. The rumours have been circulating around this week. However, there are no sources that have confirmed that they actually have bought it.
I feel like people are just circulating optimistic news in hopes they can raise the bitcoin price up as what happened with Tesla when they bought Bitcoin earlier this year. Elon Musk moved the market greatly then, but it seems now Elon’s tweets are not moving the market at all. Even though he seems to mainly be tweeting about “Baby Doge”, lol.
Also, a friendly reminder about owning your own private keys and not keeping too much crypto on exchanges in case, Binance exchange has come under a lot of scrutiny from different jurisdictions, including in Ontario, in Italy, and even in the Cayman Islands.
Recently, a good European friend of mine, Crypto Birb, mentioned he was going to be withdrawing, his funds from Binance, in case of any freezing or mishaps, in those countries .
Lastly, I recently interviewed EXIP, a blockchain based domain (and TLD) platform, looking to bring back sovereignty to domains. Currently, if you'd like to own a top level domain (.com, .net), it costs more than $10 million. Blockchain is solving that.
One of other bigger companies working on TLD’s on the blockchain are unstoppable domains. We have partnered with them, and currently have a domain on the blockchain at https://cryptocoinshow.crypto. This domain, cannot be taken down by ISP’s, is on the blockchain, and gives you access to our regular website and YouTube channel. Pretty cool!
I've also just redesigned the cryptocoinshow.com website to include a conglomeration of news from around the industry, all of the latest interviews I've produced, as well as links to the top DeFi coins and more. Please Check it out!
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Ashton Addison, CEO of Crypto Coin Show