Connect with us

Bitcoin

A 16z crypto fund launch: a change of guard from retail to sophisticated crypto investing

Published

on

crypto

In a volatile market like crypto, the old Wall Street adage that says, “Bulls make money, bears make money, but pigs get slaughtered” still makes total sense. Basically, it means you pretty much lose every time you remain undecided on whether you want to be a market bull or a bear. Just like there is no middle ground while investing in stocks and securities, the cryptocurrency market is unforgiving to those who become too greedy to decide where they stand. Simply put, you are either in it for the long run or the short run.

This cannot be pointed out more clearly than the crypto boom that happened late last year and early 2018 when Bitcoin traded at a price as high as $20,000 per coin. Say what you may, but both bullish and bear investors made money at the time. However, a good number of retail investors who had just caught the hype hoped the market would go much higher and therefore they paid a heavy price for their greed or lack of sufficient market knowledge.

The market has been crashing

Since the beginning of the year, the crypto market has been on a steady decline losing over 50 percent of its December 2017 peak value in the first quarter of 2018. As a result, traders, investors, and market speculators have been concerned with trying to figure out when and if the bull market will recover.

According to Bill Barhydt, the CEO crypto trading platform by name of Abra, the biggest contributor to the market decline is the fact that the euphoria that brought about the bullish rally at the start of 2018 has “come down to earth” as a result of a market mostly driven by retail investors.

However, while retail investors exit the market due to a long-lasting bear trend and a series of violently volatile market movements, institutional investors are starting to pay attention and even investing in crypto.

The launch of an ‘all-weather’ crypto venture fund

Cue a 16z crypto fund (a $300 million venture fund that recently announced the launch of its venture capital firm that will focus on crypto projects). In fact, a16z crypto fund is coming into a market that is not only on a bear trend but stands a chance of declining much further.

According to Spencer Bogart, a partner at Blockchain capital, the crypto market’s liquid providers are looking to sell due to the decline by over 50 percent since January. As a result, Bogart believes that prices could go “artificially lower”.

However, as the overall market struggled to find footing in the first quilter of 2018, institutional investors like a16z crypto fund are doubling down with a dedication to crypto companies. In fact, according to Chris Dixon, a general partner at a16zcrypto, “We’ve experienced ups and downs in the cryptocurrency market, and expect there will be many more,” however he continued to mention that “There’s potential in the technology, and some of the downturns can be the best investments.”

A16zcrypto is an “all-weather” fund that boasts of over 5 years of long-term investment in crypto’s early stage coins, later stage networks and tokens. The company is set to be a consistent and aggressive investor over time no matter the market conditions. Dixon further told CNBC that “there are wild fluctuations in the price, and we see that as an opportunity”

Leading the firm will be Katie Haun (a former U.S Department of Justice Prosecutor) who has experience helping crypto startups navigate the rough and tough tides of regulation in the US. Apart from being a board of director at Coinbase, she also worked on Silk Road’s high profile crypto related cases in 2015.

In closing

The crypto market is still at its nascent years. As a result, institutional investment firms like a16zcrypto are not only changing the trend from a market dominated by retail investors but also providing sustainable support that will eventually enable crypto to solve future and present problems in the world.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

Published

on

Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

Continue Reading

Press Release