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Ethereum Classic Jumps Into DeFi With Fantom Partnership, But Only as Collateral

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Ethereum Classic Jumps Into DeFi With Fantom Partnership, But Only as Collateral

ETC Labs and Fantom Foundation are collaborating to bring decentralized finance (DeFi) to Fantom’s ecosystem, a Feb. 10 press release announced. Ethereum Classic (ETC) will serve as collateral for issuing a stablecoin similar to Maker’s DAI on the Fantom platform.

Fantom will be using the Xar Network, a DeFi framework specifically developed for the project. The framework uses some of Fantom’s Byzantine Fault Tolerant (BFT) consensus technologies, such as Lachesis and TxFlow, to offer a blockchain environment that supports advanced DeFi options. The system allows collateralized loans, synthetic assets, atomic swaps and is interoperable with external blockchains such as Ethereum and Binance Chain.

Ethereum Classic will only function as collateral on the Fantom platform. The stablecoins will live on Xar Network’s blockchain-agnostic stablecoin protocol, named Collateralized Stable Currency Tokens (CSCT).

Related news: Ethereum Classic, Tezos, and Dogecoin Price Analysis

Fantom primarily targets enterprise and governmental use cases, using ETC to mint stablecoins on permissioned networks.

The issuing entities will maintain full control over the collateral, in addition to having the ability to earn interest from staking the stablecoin.

ETC is reportedly preferred over its more famous twin due to its commitment to immutability, as it was born from the unwillingness to manually revert the results of a smart contract hack.

Read also: Jack Dorsey Unveils Square Crypto, How Will It Help Bitcoin?

The collaboration will gradually expand the available uses for ETC within the Fantom ecosystem. The toolkit allows for significant interoperability between different Fantom blockchains, as well as those on the Cosmos network.

Though Ethereum Classic could in theory host DeFi platforms as well, its role appears to be relegated to that of collateral asset. For now.

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Dow Jones Stocks Warren Buffett Dump

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Dow Jones Stocks Warren Buffett Dump

Americans may be surprisingly bullish on shares, but it does not mean it’s an easy time to be a Dow Jones bull. In an unprecedented health crisis to economic data whose nearest precedent is the Great Depression, there’s no lack of dangers to keep up the most despicable optimist. However, for investors, there is something even more terrifying than a historic contraction or the chance of a tide of coronavirus infections.

It’s the embarrassing experience of watching the stock market rally aggressively while Warren Buffett sits out the recovery.

Berkshire Sends Three Dow Jones Stocks To The Cutting Room Floor

After Berkshire Hathaway revealed that it hadn’t just dumped airline stocks that gnawing feeling grew even more pronounced. The investment company also spent the first quarter slashing exposure to three Dow associates.

It was not all that surprising to visit Travelers Companies abandoned on the cutting room floor. But it was unsettling to see Goldman Sachs and JPMorgan — two of Warren Buffett bank stocks — begin to fall out of favor with the Berkshire Hathaway boss.

Yet it is not all bad news for Dow Jones bulls. The Oracle of Omaha remains gambling big on a handful of the indicator’s 30 components. And while he may not be doubling down, it is clear the Berkshire is convinced these six shares will weather the ongoing crisis and emerge just as powerful as before.

Warren Buffett Bets Big On The Dow’s Most Important Stock

Dangers are faced by stocks with exposure to China. Alongside the extensive hit to the international economy, companies like Apple face extra pressure in the mounting risk of another breakdown in U.S.-China trade relations.

But that doesn’t appear to have shaken Berkshire Hathaway’s certainty in the $1.35 trillion technology giant, which is the most heavily weighted component from the Dow Jones Industrial Average.

Apple remains the largest holding in the portfolio of Warren Buffett. His firm owns an estimated $77.2 billion worth of AAPL shares.

Coca-Cola & Consumer Staples Fortify Berkshire Against Downside Risk In The Stock Market

Up next is a string of defensive stocks that may mitigate Berkshire’s downside risk if the stock market will pivot reduced.Coca-Cola is the name in this group. Buffett and Berkshire own more than 9% of outstanding KO shares, worth an estimated $17.3 billion.

They have small positions in the following two of the Dow’s consumer staples stocks — Procter & Gamble and Johnson & Johnson — although PG and JNJ shares account for less than $90 million of the assets of Berkshire.

Goldman’s Pain Is Visa’s Gain?

Don’t confuse Warren Buffett’s sudden U-turn on Goldman Sachs and JPMorgan as a canary in the coal mine for the entire financial sector.

Berkshire added to its stake in PNC Financial during the first quarter, and it keeps a massive 18.8% stake in DJIA component American Express. Its position in Visa is smaller (0.5percent ), although the $1.9 billion value of the investment still represents a sizable bet.

The coronavirus pandemic presents American Express and Visa with its threats, but in addition, it presents a chance.Social distancing measures may accelerate the transition away from cash payments and toward”contactless” methods. This could benefit charge card issuers who have integrated contactless payment functionality in their systems.

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Bakkt Bitcoin App Soon to Hit marketplace

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Bakkt Bitcoin App Soon to Hit marketplace

Institutional-grade Bitcoin (BTC) trading platform Bakkt could soon see its program hitting the marketplace. Bakkt President, Adam White, on May 18, 2020, said the highly-anticipated program is available for sign-ups for exclusive updates and premature access.

Bakkt Bitcoin App Coming Soon

Bakkt, the high-profile Bitcoin trading platform aimed toward institutional investors has managed to gain enormous attention within the cryptocurrency distance from day one. Bakkt is still one of the Bitcoin trading platforms in existence today, Even though the platform has its fair share of ups and downs. Having a vision to bring assets Bakkt is burning the midnight oil to appeal to institutional and retail investors alike. In the latest round of upgrades, White reiterated that Bakkt continues to drive toward the launch of its app.The upcoming launch of Bakkt’s program is particularly important as it is widely regarded as one of the biggest efforts at propelling cryptocurrency adoption into the mainstream. The app will enable assets to be spent by users with only a couple of taps at their merchants. Through the program, users will also be able to transfer digital assets to friends and family, or convert them to fiat.

Bringing Digital Assets to Institutional Investors

White added that over 70 investors have been onboardeded by Bakkt onto its warehouse custody alternatives. Substantiating on the digital asset custody business of Bakkt, White reported a collaboration with the Digital Asset Risk Transport team underscores the devotion to custody of the platform from Marsh.For the uninitiated, Marsh is one of the world’s leading insurance brokers. Of the collaboration, as well as the 125 million insurance in the Bakkt Warehouse, Bakkt customers will then be able to buy more than $500 million in insurance coverage, White noted.White further said that Bakkt recently completed a SOC 1 Form I evaluation by KPMG plus a SOC 2 Type II examination of enterprise-wide functions and their ICE infrastructure the Bakkt Warehouse depends upon by PwC. White added:

“These audited controls and procedures are crucial to our institutional customers and directed Tagomi, among the most popular crypto prime agents, to select Bakkt as their preferred bitcoin custodian. Tagomi customers can now custody with Bakkt for 0.1% per year while retaining access to best-trade execution and settlement through the Tagomi platform. “

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Investing at the Ideal Crypto Could Produce 7x Returns in 24 Months

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Investing at the Ideal Crypto Could Produce 7x Returns in 24 Months

Crypterium (CRPT), the namesake utility token of the award-winning fintech startup, is recorded among the most valuable resources of this calendar year 2020. The well-known crypto expert and editor of Palm Beach Research Group has recorded CRPT alongside four other tokens in the 2020 Phenomenon Playbook. The 2020 Phenomenon Playbook is a distinctive investment record that briefly analyses some of the groundbreaking crypto projects of the day to forecast its valuation and marketplace functionality. According to the report, CRPT has the capacity to enroll a 700% profit over two years as the Crypterium project occupies a crucial place in the cryptocurrency ecosystem, making spending and acquiring cryptos as simple as cash.

What Makes Crypterium Special?

The system acts as a bridge between the fiat and crypto ecosystems by allowing its users to buy crypto using fiat, send crypto to bank accounts, store in wallets and even spend crypto in places that take fiat using the mobile app and physical cards.

Crypterium makes all these possible by leveraging partnerships with major financial institutions and smart contracts. Fueling these transactions is the CRPT token, which is the utility token of the entire Crypterium ecosystem.

Acknowledging the organization’s unique status in the crypto ecosystem, and also the considerable YoY progress achieved, Tiwari states,

“We think the Crypterium program will go viral, and ultimately, thousands of customers will flock to it to buy, borrow from and spend their crypto winnings”

The worth of CRPT is directly correlated to the number of trades that happen over the Crypterium network. The report puts growth in GDV during the first quarter of 2020 at 400 percent over the year’s value during precisely the same period. In the next two decades, the value is projected to increase 20-fold to $100 million and reach $1 billion in the third year.

Even before the report was published, CRPT has been showing signs of growth. With the 2020 Phenomenon Playbook strengthening the positive sentiment connected with CRPT, the token’s valuation is expected to gain a substantial increase in the coming days.

If the forecasts were to hold true, then CRPT’s value will be at least $1.92 over 24 months. The 2020 Phenomenon Playbook also comprises Solve.

Care (SOLVE), which could potentially revolutionize the medical industry for a bonus. In these troubling times of this COVID-19 pandemic, people are urgently looking for investment choices that can generate high yields. The majority of the traditional investments aren’t great enough as the entire international economy has entered a continuing bear market. However, cryptocurrencies have been the outliers from the fiscal ecosystem and a number of them are able to offer a much greater return on investment compared to others.

The 2020 Phenomenon Playbook provides prospective investors with a listing of crypto tokens with huge expansion potential, and most of these tokens are still valued at a portion of the purchase price of the present leading cryptocurrencies. The report printed notably by somebody known for his accurate forecasts of financial events, such as Ethereum’s meteoric rise, will encourage a lot of people to purchase into the next Bitcoin. While the report forecasts that the growth over a period of two years, it might inevitably accelerate the procedure in the present day situation, and all of the favored tokens may enroll huge short-term gains too. It is up to the investors to decide whether they wish to put money into CRPT and other tokens, hodl for a couple of years or longer, or make profits over the short-term.

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Disclaimer: 9ja Informative's content is meant to be informational and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. 9ja Informative receives compensation with respect to its referrals for out-bound crypto exchanges, crypto wallet websites and affiliate links.