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Partnership Between Bridge Mutual & AllianceBlock Announced

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Decentralized peer-to-peer discretionary digital asset coverage platform Bridge Mutual has announced a partnership with AllianceBlock. AllianceBlock is a decentralized, blockchain-agnostic layer 2 protocol bridging decentralized finance with traditional finance. The partnership will allow AllianceBlock and Bridge Mutual to provide traditional investors with a protected bridge to DeFi through decentralized coverage. 

“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”

In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets. 

By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards the monetization of its platform through the AllianceBlock Data Tunnel.

“Partnering up with quality projects like AllianceBlock that already have meaningful real-world collaborations, including the London Stock Exchange, is one of the primary ways we’ll accomplish making crypto mainstream,” says Mike Miglio, CEO of Bridge Mutual. “We’re excited to change the world with AllianceBlock by opening up a direct channel for consumers in the AllianceBlock capital market to provide and purchase discretionary coverage through either of our platforms.”

Bridge Mutual is a decentralized, p2p/p2b discretionary risk coverage platform that provides coverage for stablecoins, centralized exchanges, and smart contracts. Its platform allows users to provide coverage, decide on policy payouts, as well as share profit and get compensated for adjudicating claims. Bridge Mutual’s token, $BMI, witnessed an explosive TGE on January 30, 2021 and aims to take and hold the throne of risk coverage platforms on the market.

AllianceBlock ($ALBT) is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product. Incubated by three of Europe’s most prestigious incubators: Station F, L39, and Kickstart Innovation in Zurich, and led by a heavily experienced team of ex-JP Morgan, Barclays, BNP Paribas, Goldman Sachs investment bankers, and quants, AllianceBlock is on the path to disrupt the $100 trillion securities market with its state-of-the-art and globally compliant decentralized capital market.

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Ethereum Price Outlook as the DXY Index Crash Continues

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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively. 

US dollar index retreats

Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.

The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points. 

Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%. 

At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…

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STG Price Soars as Stargate Finance’s Token Forms Double-Top

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Electroneum ETN

STG price surged to a high of $0.7566 this week as interest in DeFi tokens jumped. Stargate Finance’s native token has risen by over 85% from the lowest point in 2022. So, what is Stargate and why is the token soaring?

What is Stargate Finance?

DeFi has emerged as one of the most important areas in the blockchain industry. In fact, with the metaverse and NFTs struggling, it is the only bastion of hope for the sector. While the amount of assets held in DeFi has dropped recently, it is still worth about $70 billion. And DEX protocols like dYdX and Uniswap are handling hundreds of millions of dollars every day.

Stargate Finance is a little-known platform in the DeFi industry. It exists in numerous blockchains like Ethereum, Avalanche, BNB Chain, Arbitrum, and Optimism. Like most cross-chain blockchains, Ethereum is the most dominant player in Stargate, where it has a TVL of more than $102 million.

Stargate Finance is a DeFi protocol that makes it possible for users to stake, farm, and transfer tokens across multiple chains. It describes itself as a fully composable liquidity transport protocol that lives at the heart of the omnichain. 

As such, you can swap tokens on a 1:1 basis and add liquidity to Stargate’s Omnichain protocol and earn stablecoin rewards. Also, liquidity providers can farm their LP tokens in exchange for STG…

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Cronos Price Forms Bearish Divergence as Cryptos Rebounds

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Cronos price has been in a strong recovery in the past few weeks as cryptocurrencies rebound. CRO rose to a high of $0.066, the highest point since December 10. It has soared by more than 18% from the lowest point in 2022. So, what next for the token?

What is Cronos?

Cronos is a blockchain project that was developed by Crypto.com, one of the biggest crypto exchanges in the world. It was previously known as Crypto.com Chain until it rebranded in November 2021. 

Cronos is a smart contract platform that aims to be a better alternative to Ethereum and other networks like Solana and Avalanche. It is also an Ethereum Virtual Machine (EVM), meaning that apps developed in its ecosystem are compatible with Ethereum. 

Cronos has been used to build all types of dApps, including Decentralised Finance (DeFi), Non-Fungible Tokens (NFT), and the metaverse. Some of the most notable DeFi apps in its ecosystem are Tectonic, VVS Finance, Ferro, and MM Finance among others.

The metaverse platforms in the ecosystem are Metaverse Pixels, Cronos Ragdolls, Pampered Pandas, and Crowboys. It has also been used to build NFT collections like Cronos Chimp Club, Crosmonauts, Crocus NFT, and Agora among others.

CRO price crashed in 2022 as other cryptocurrencies plunged. This decline happened as the Fed increased interest rates. The bank hiked interest…

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