The cryptocurrency market has had a net positive week as the prices of most coins and tokens are in the green zone. 

It has been a positive week for the broader cryptocurrency market. The total market cap has surged past the $1 trillion mark following the rallies by leading coins and tokens over the past seven days.  

Bitcoin slightly retraced below $23k on Thursday but is up by nearly 1% and is trading above $23k at the time of this report. Meanwhile, ETH is also up by more than 6% in the last 24 hours and currently trades above $1,550 per coin.

SNX, the native token of the Synthetix ecosystem, is up by more than 15% in the last 24 hours, making it one of the best performers amongst the top 100 cryptocurrencies by market cap. 

The rally can be attributed to Synthetix announcing that it has renewed its partnership with Jump Crypto. 

According to the Synthetix team, Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement its mission to become the liquidity backbone for on-chain derivatives.

Synthetix DAO and Jump Crypto are excited to announce a renewed partnership.

Jump Crypto’s experience in data-driven trading and liquidity provisioning will complement Synthetix’s mission to become the liquidity backbone for on-chain derivatives.

— Synthetix (_) (@synthetix_io) July 21, 2022

Key levels to watch

The SNX/USD 4-hour chart is bullish as Synthetic has added more than 20% to its value in the last 24 hours. 

The MACD line is above the neutral zone, indicating bullish momentum. The 14-day relative strength index of 61 shows that SNX could enter the overbought region if the positive momentum is maintained.

At press time, SNX is trading at $3.21 per coin. If the bulls remain in control, the coin could test the previous resistance level at $3.5 before the end of the day.

However, SNX would need the support of the broader cryptocurrency market to rally past the $4 psychological level in the short term. 

Genius X, a revolutionary business accelerator on Cardano, is collaborating with Smart Places, the first platform using the Connect2Earn that rewards users for connecting and interacting.

On traditional social media platforms, the data monetization model is simple. You get a free service, while the platform monetizes your data. In a closed centralized system it’s impossible to know what type of data is being shared and how it’s being shared and used.

Smart Places aims to change the current data monetization model.
If you decide to share your data, you will be rewarded by the ecosystem. By utilizing blockchain technology, data will be monetized in a decentralized zero-knowledge environment.

Early adopters (Smart Places Pioneers) of Smart Places have the option to buy Smart Places NFT land plots representing real world locations. Land plot owners will get rewarded for interactions and data monetization that happens on their land plots. They will also have access to early voting and will be part of forming the social ecosystem from an early stage.

Genius X will provide Smart Places with public relations, marketing, resources, including initiating collaborations between Smart Places and NFT-marketplaces, in addition to other value-adding partners.

Hung Lee, CEO, Smart Places:
“-We’re really happy about partnering up with Genius X.
Their knowledge on blockchain has been important for us after we chose Cardano. The Cardano ecosystem is growing with an incredible pace and to work with the competent team at Genius X is a real pleasure.”

Genius X services include a launchpad for fully vetted and innovative startups to crowdfund and launch on Cardano. It is an accelerator program that provides Cardano-based startups with all the tools and support required for long-term success.

Smart Places is part of the Genius X program and is one of the three initial startups for Genius X whose funding round begins on April 11, 2022.

Smart Places Protocol uses a Connect2Earn model to reward users for interacting with each other in the metaverse while offering privacy and control.

For more information about the Smart Places Protocol project, check out the links below.

Website: https://www.smartplacesprotocol.io/

Discord: https://discord.gg/q932DmaSuF

Twitter: https://twitter.com/smartees_io

LinkedIn: https://www.linkedin.com/company/smartplacesprotocol/about/

Medium: https://smartplacesprotocol.medium.com/

Telegram: https://t.me/smartplacesprotocol

Genius X is an accelerator program launched by the world class team behind Genius Yield. Our goal is to foster innovations on Cardano by providing early-stage blockchain startups with all the tools they need to become successful.

Website | Discord | Telegram | Telegram Announcements | Twitter | Instagram | YouTube | LinkedIn | Medium

The Cardano Foundation, a non-profit organization custodian of the Cardano ($ADA) blockchain, has partnered with the Blockchain Center of the University of Zurich, “one of the leading research universities of Europe.”

According to an announcement, the partnership is meant to explore the “development of blockchain education and research initiatives.” The Foundation is looking to establish a research collaboration with the Blockchain and Distributed Ledger Technologies (BDLT) Group at the University of Zurich to explore topics like the efficacy of consensus protocols the continuous development of Cardano.

The announcement details the BDLT Group will “provide valuable tools to the Cardano Foundation for the development and governance of Cardano” with a specific focus on the incentives behind the consensus protocol and a study of the economic activities on the network.

Frederik Gregaard, CEO of the Cardano Foundation, was quoted saying:

As blockchain moves from the margins to the mainstream, considerably more academic research is required to enhance understanding and, ultimately, bring about adoption. This is why we have even specifically called out education as a core goal of the Foundation for the year ahead.

The collaboration, the announcement details, will also explore the “transaction growth and lifecycle analysis for UTXO growth, scalability, and large wallet management,2 as well as the organization of Cardano token economies and potential system manipulation and attack vectors specific to Ouroboros.

Dr. Claudio Tessone, a professor at the University of Zurich, noted that the collaboration is aiming to “link micro-behavior to global properties of blockchain-based systems.”

Tessone added that to achieve it, the researchers’ approach “heavily relies on large-scale data analysis supported by rigorous mathematical and statistical modeling.

The announcement comes shortly after the number of wallets created within the Cardano blockchain grew by over 500,000 so far this year and surpassed the three million mark in early February. The rise in the number of wallets coincides with the growing adoption of Cardano’s decentralized finance (DeFi) space.

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Unsplash

Largest decentralized exchange on Polygon, QuickSwap recently announced a cooperation With CelsiusX. The DeFi arm of Celsius, the decentralized financial services network founded by Alex Mashinsky, the partners are set to bring more liquidity and create yield opportunities for users on the sector.

Related Reading | Celsius CEO: “Elon Is A Tourist In Crypto”

The partnership also aids to onboard more users, from retail investors to institutions, into DeFi. In order to achieve this objective, CelsiuX will offer 2 popular cryptocurrencies, Cardano (ADA) and Dogecoin (DOGE), with a low presence on Polygon and will provide more liquidity for Ethereum (ETH).

These cryptocurrencies will be available on QuickSwap as synthetic versions called cxADA, cxDOGE, cxETH. Per an official post, these tokens have low to non-existent liquidity for traders on Polygon. The partnership will seek to meet such a demand.

Dogecoin (DOGE) has seen a massive rally from its lows below $0.010 in 2021 to an all-time high above $0.70. The cryptocurrency has been promoted by heavily influential personalities in business, such as Elon Musk and Mark Cuban, and it’s a symbol of the “GameStop Movement”.

In the meantime, Cardano rose on the back of its large community and their bet that the network will become an Ethereum killer project one its DeFi ecosystem matures. Cardano introduced DeFi capabilities back in 2021 after successfully completing tree Hard Fork Combinator events.

Both ADA and DOGE have some of the most active and engaging communities in the crypto space. The collaboration between QuickSwap and CelsiuX will give these users a new venue to trade their favorite tokens.

The team behind QuickSwap exclusively told NewsBTC the following on their collaboration with CelsiusX:

CelsiusX is bringing 3 assets (cxDOGE, cxETH, and cxADA) that currently have little to no utility or use on Polygon over and each of their respective communities with them. The team will be seeding the liquidity for 3 trading pairs, $10 million in liquidity for each pair. In addition to added liquidity, we expect to see a major increase in volume.

QuickSwap And CelsiusX, A Partnership For The Future Of DeFi

The collaboration will be comprised of three core elements: liquidity, incentives, and utility. The first will facilitate trading for institutions, users, and other market participants following QuickSwap’s vision of providing liquidity for “any token”.

On the second item, the DEX and CelsiusX will offer users more incentives to trade the synthetic versions of these tokens. Liquidity providers and traders will receive rewards by operating on cxDOGE and cxADA. Finally, the partners will provide DOGE and ADA holders will more utility opportunities on Polygon by adding it to a larger DeFi and multi-chain ecosystem.

On their official announcement, CelsiusX added the following on their cooperation with QuickSwap, which they called “just the tip of the iceberg” in their attempts to merge CeFi and DeFi:

As token interoperability increases and additional non-ERC20 (non-Ethereum compatible) crypto tokens look to migrate over to the Polygon ecosystem, CelsiusX + Polygon can repeat the playbook to create liquidity and use cases for any token.

As of press time, the DEX’s native token QUICK trades at $190 with a 5.1% profit in 24 hours and 8.6% profit in one week. The token has seen a positive impact from their partnership with CelsiusX and could continue to score more profits on the back of improvements to its interface and reward mechanism.

QUICK with minor gains on the daily chart. Source: QUICKUSDT Tradingview

Data from Material Indicators shows that there are some significant bids set below QUICK’s current levels. These could operate as critical support in case of further downside with $185 as it most important level.

Related Reading | Celsius Crosses New Company-High In BTC Assets

To the upside, there is low resistance until $205 which suggest bulls could have a shot of reclaiming previous highs.

QUICK Price (blue line on the chart) and support levels (bid orders below price). Source: Material Indicators.

Real time live cryptocurrency news. Get the best news flash on Bitcoin, altcoins daily. Use Binance.com as the best , most reliable and biggest cryptocurrency exchange on the market.

• Shiba Inu announced a new partnership with Welly’s blockchain-based fast-food chain in Naples, Italy. 
• The partnership with the Italian fast-food restaurant is Shiba Inu’s first step into the realm of real-world projects. 
• The team behind Shiba Inu revealed that the Shiba Inu community could take decisions for the project through Doggy Dao. 
• Analysts identify a chart pattern that signals a potentially explosive breakout in Shiba Inu price. 

Shiba Inu revealed a new partnership with fast-food chain Welly’s. This marks the first real-world use case for the Dogecoin-killer meme coin. Analysts have predicted a bullish impact on Shiba Inu price. 

Shiba Inu ventures into real-world with new partnership

Shiba Inu has found its way to the real world through its new partnership with an Italian fast-food restaurant chain. Welly’s has adopted blockchain technology and completed a full rebrand making Shiba Inu its mascot. 

The partnership boosts the utility of Shiba Inu through real-life transactions. Though Welly’s is not a centralized conglomerate, the brand accommodated a complete makeover to fit Shiba Inu’s ethos. The development team believes an adoption of the Shiba Inu technology stack will follow in the future. 

In association with Shiba Inu, Welly’s plans to expand and open multiple stores in 2022 and 2023, assuring higher utility and demand for SHIB tokens from this real-world application of the meme coin. 

In the blog post announcing the partnership, the Shiba Inu team quotes that SHIB is a method of payment at the fast-food chain and LEASH, Shiboshi holders would have exclusive access to discounts, rewards and other perks. 

The Shiba Inu community can participate in decision-making at Welly’s in its expansion through Doggy DAO and the purchase of NFTs. 

Shiba Inu is likely to gain popularity as a medium of exchange akin to Dogecoin with the new partnership. Investors are, therefore, bullish on Shiba Inu price and predict a bullish breakout in the Dogecoin-killer. 

Crypto analysts at the YouTube channel Ahead of the Trade have identified similarities between the current volatility and volume of Shiba Inu and that noted in October 2021. 

Analysts argued that the breakout in October 2021 was preceded by an extended period of consolidation, followed by a reduction in price volatility. Historically, periods of low volatility are followed by a breakout in Shiba Inu price. A similar price trend and volatility implies an explosive rally in Shiba Inu could be on the horizon. 

FXStreet analysts believe that Shiba Inu price could top out at around $0.00004. 

 

Welcome to the ninth edition of our ASPA Partner Focus series. We have interviewed the latest new joiners and would like to share their mission and why they chose to be a part of the Cardano community and the Ardana project!

https://twitter.com/lovelacepool1

1LOVE started with the test network for Cardano, where they quickly discovered that stake pool operators face significant challenges in finding funding and support to get started. 1LOVE formed a group to help other pools like theirs gain stake and earn their first blocks on the test network. This gave them the opportunity to join the Ambassador Program for the Cardano Foundation moderation team on Telegram and Reddit.

Their mission is to support community members, stake pool operators (ITN bootstrap program), and developers. As their network continues to build and grow, they will continue to do their part to support others also.

1LOVE believes that Cardano has excellent potential to create a stable, secure, and sustainable blockchain foundation to build upon in the years to come. This is why they have chosen to become part of the Cardano community.

1LOVE sees Ardana as an exciting new chapter in Cardano’s journey, as community members will now be able to access direct lending and swap capabilities from Ardana’s liquidity pools with native assets without having to convert or pay higher fees on other networks. 1LOVE stated, “I think this will be the next evolution of direct personal on-chain banking.”

https:// https://twitter.com/IAM_X_IDENTITY

IAMX has been following Cardano’s development since 2020. Since some of the team members run a telecommunication company, the question arose, “How will blockchain change the telecom business?”

After much research and investigation, the team has plans to provide millions of people with a solution to manage their own identity when it comes to telecommunications. And, most importantly, they have the ability to provide a solution to many people with no identity at all.

IAMX believes Cardano is the most scalable blockchain in the world. They are impressed that Cardano is focussing on developing countries and also stated that there is no other alternative to adopting an identity solution.

The team also praised the team at Ardana and commended the project. They are excited to see what Ardana will soon bring to the Cardano blockchain.

https://twitter.com/KawanuaP

Kawan provides emergency assistance to victims of natural disasters by depositing 10% of the pool’s reward into an emergency wallet fund, which is distributed as aid in the event of a natural disaster. Kawan is also building a solid local community in order to raise awareness of Cardano’s vision and mission.

This stake pool is inspired by Cardano’s vision and mission to lead the developing world into the new age of financial freedom. Kawan believes that Cardano will transform the world’s financial system forever through its rigorous scientific research and outstanding team.

Kawan is excited to join Ardana through the ASPA program and said they are very impressed with the stablecoin development and governance structure that Ardana brings to the community.

https://twitter.com/RiseCardano

RISE started out in August 2020 and has minted over 500 blocks so far. The team is dedicated to using its pool as a means of funding charities around the world. They do this by donating 20% of the pool’s profits to a different cause each month. A worthy cause is chosen by the community through social media polls each month. Thanks to this method and their delegates, they have donated over $6000 to eight organizations so far in 2021.

The pool’s second mission is to provide excellent staking services to their delegators with high-performance nodes and monitoring to ensure constant availability.

The team is excited to be part of the Cardano community, stating, “We like the idea of banking with unbanked people as a mechanism to mutually benefit and grow while implementing tools that will ultimately help drive innovation in these demographics. Solutions like Atala Prism appeal to us because they create an identity on a decentralized platform.”

The stake pool finds the scientific peer-review process of Cardano development inspiring. They believe that no matter what happens in the crypto market, Cardano’s scientific rigor and innovative solutions will still come out on top.

When asked about Ardana, RISE said: “I think the team has been great at communicating and explaining their stablecoin ecosystem, development methodology and the rationale behind certain decisions, as well as the interest in mission-driven pools, which sets them apart from other projects that do not have that.

https://www.twitter.com/stake_for

AZUL’s mission is to help workers in low-wage countries receive tips in the form of ADA. These smart contract-based donations will then arrive directly to those in need, cutting out all unnecessary intermediaries. This means no friction loss, no expensive charity parties — just fast and direct help.

The team is also a partner to the NFT’s parat-gallery.com project and hopes to bring curated art to the NFT space. Their long-term goal is to work full-time in the Cardano space.

The team fully supports Cardano and believes it will be one of the most important blockchains in the future. AZUL is also proud to be a member of the Cardano community and has found great stake pool colleagues here, with who they communicate regularly.

AZUL believes in Ardana and also stated that stablecoins will be very important for the mass adoption of cryptocurrencies. “Decentralization is the foundation of blockchain. We love that ASPA supports both and aims to bring benefits to the stake pool community.”

Thank you for reading the ninth article in the ASPA Partner Focus Series! We at Ardana understand that for DeFi on Cardano to flourish, stake pools must be engaged from inception to adoption.

This is why we created ASPA to engage stake pools that we align with to work towards the betterment of this ecosystem.

About Ardana

Ardana is Cardano’s stablecoin hub, bringing the necessary DeFi primitives needed to bootstrap & maintain any economy to Cardano. Ardana offers an on-chain asset-backed stablecoin and a decentralized stable-asset DEX. The stablecoin is verifiably backed by an excess of on-chain collateral and will enable borrowers to take leverage on their ADA or other supported assets. The DEX is a highly capital efficient exchange enabling swaps with minimal slippage & fees while providing low-risk yield opportunities to liquidity providers.

Website | Twitter | Discord | Telegram | Whitepaper | Pitch Deck

We are excited to announce a partnership with decentralized finance (DeFi) developer SundaeSwap Labs to explore ways to implement the Djed stablecoin — the first stablecoin on Cardano — with the SundaeSwap decentralized exchange (DEX).

SundaeSwap will pair Djed with other coins in their DEX, and SundaeSwap users will be able to provide liquidity through Djed trading pairs on SundaeSwap.

Being the issuer of Djed, COTI will assume the responsibility of publishing the smart contracts for the stablecoin and of being the front end for engaging with funds, enterprises, developers, and others who wish to mint both the stablecoin and the reserve coin used as part of the pegging algorithm.

“Algorithmic stablecoins will play an increasingly important role in crypto transactions, and Djed support is likely to be a key factor in selecting a DEX in the Cardano ecosystem,” said Mateen Motavaf, Chief Executive Officer of SundaeSwap. “We’re pleased to be able to team up with COTI, the issuer of Djed, to help ensure that SundaeSwap DEX users will have a reliable, widely-accepted stablecoin at their disposal for future crypto transactions on the exchange.”

“The integration between the SundaeSwap DEX and the Djed stablecoin contracts is a critical example of what we mean when we say we’re building an interconnected Cardano ecosystem,” added SundaeSwap Chief Information Officer Pi Lanningham. “Composability is a key focus of the design of the SundaeSwap protocol, and partnering with COTI early will allow us to make sure that the experience of using stablecoins on Cardano is syrupy-smooth.”

About SundaeSwap Labs

SundaeSwap Labs develops decentralized finance (DeFi) platforms that enable economic empowerment for all. At the heart of its development efforts is the SundaeSwap DEX, a decentralized exchange where Cardano-based peer-to-peer transactions can be conducted quickly, safely, and inexpensively. The SundaeSwap DEX allows participants in the Cardano blockchain to provide liquidity and create a market for others to exchange their native tokens. In return, swappers pay a small fee and liquidity providers earn a return on their deposit. Cardano is a third-generation blockchain noted for its transactional efficiency, relatively low environmental footprint, and peer-reviewed secure technology. SundaeSwap Labs is a Wyoming corporation.