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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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Crypto Market Cap Eyes $600 Billion as Bitcoin Finally Broke ATH (Market Watch)

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After charting a new all-time high of some exchanges, Bitcoin has retraced slightly to beneath $19,500. Some alternative coins have surged in the past 24 hours, resulting in the total market cap reaching its highest level since yearly 2018.

Bitcoin Sees ATH And Retraces

The word ‘boring’ rarely has a place in the cryptocurrency industry. The price developments in the past several days have only confirmed this.

Bitcoin went from a yearly high of $19,500 to $16,250 in hours. After gradually reclaiming the $17,000 and $18,000 price tags, it took a few more days for BTC to recover fully.

However, the cryptocurrency continued further upwards after overcoming $19,000. As CryptoPotato reported yesterday, this resulted in painting a new all-time high (at least on some digital asset exchanges).

Bitcoin went as high as $19,860 (on Bitstamp) before losing some steam and dipping below $19,500 – where it’s situated as of writing these lines.

The technical indicators suggest that the next significant resistance line lies at $19,900. Should BTC conquer it, the asset could spike into uncharted territory above $20,000.

Alternatively, Bitcoin could rely on $19,440, $18,800, and $18,240 as support in case of a price breakdown.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Crypto Market Cap To A Near 3-Year High

Most alternative coins have been on a tear after the Thanksgiving massacre. The situation has intensified for some since yesterday.

Ethereum has surged above $600 again as anticipation for the ETH 2.0 release is building up. Ripple has added 4% of value and trades north of $0.65.

Binance Coin (5%) has returned to the top ten by replacing Stellar. Bitcoin Cash (7.5%), Chainlink (3.5%), and Polkadot (2.3%) are also in the green.

However, the most impressive gainer from the top ten is Litecoin, with a double-digit price increase (11%). As a result, LTC has neared $90.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

SushiSwap has surged the most since yesterday with 31% and sits close to $2. Horizen (15%), BitTorrent (15%), Nexo (10%), and Ocean Protocol (10%) are next.

Ultimately, the cryptocurrency market cap has benefited from these price developments. The cumulative market capitalization of all digital assets reached $584 billion a few hours ago. Thus, it surpassed the previous yearly high marked on November 25th of $582 billion.

It’s worth noting that this is the highest level since January 2018.

Crypto Market Cap 2017-2020. Source: CoinMarketCap
Crypto Market Cap 2017-2020. Source: CoinMarketCap
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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Source: https://cryptopotato.com/crypto-market-cap-eyes-600-billion-as-bitcoin-finally-broke-ath-market-watch/

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Yearn’s merger with SushiSwap will be the most comprehensive to date

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The flurry of Yearn.finance (YFI) “mergers” continues with the tightest integration yet with SushiSwap (SUSHI), the decentralized exchange that began its life as a Uniswap fork.

Announced by Yearn founder Andre Cronje on Tuesday, the collaboration involves a variety of synergies between the two ecosystems and other projects launched by Cronje.

Like with previous integrations, the two teams will merge development resources and integrate their liquidity pools to increase total value locked. Yearn will help in creating an xSushi vault to farm SUSHI, Ether (ETH), YFI and Wrapped BTC (wBTC).

Yearn will subsequently use SushiSwap as the automated market maker of choice for its yield farming strategies.

Many further integrations rely on subprojects of the Yearn growing ecosystem. Keep3r, a network to perform arbitrary jobs with smart contracts, will move its treasury to SushiSwap and add implementations for SushiSwap’s limit and stop-loss orders, in addition to an integration into SushiBar V2, its yield farming platform.

Cover protocol will also add the possibility of insuring SushiSwap liquidity pools through its system of CLAIM tokens. Cream Finance will provide liquidity into SushiSwap’s upcoming Bento Box and add SushiSwap liquidity pool tokens as collateral for lending.

The two teams will work together on Deriswap, Cronje’s upcoming derivatives trading platform, as well as an undisclosed future project.

SushiSwap governance and tokens will remain separate from Yearn, but the teams want to connect the two projects’ treasuries to let each have a stake in the other. A governance vote will be held in both projects that would let holders choose if part of their treasuries should be devoted to purchasing each other’s tokens. The two projects will thus be able to participate in each other’s governance processes in the future.

Further integrations that will be put up for a vote include a SushiSwap liquidity incentive for some of Yearn’s yield farming pools to be allocated by Yearn, with the CRV to yyveCRV pool being a potential candidate. The Keep3r/ETH pool would also be included in SushiSwap’s “permanent menu” of SUSHI rewards. Finally, grants to SushiSwap developers would be paid through yGift tokens, a non-fungible token that holds a certain amount of money and includes a customized message.

The integration with SushiSwap is deeper than with most other projects, and it is the first to include a mutual exchange of treasury allocations. Due to this, it is also the first Yearn merger to be put up for a vote. Nonetheless, only some of these specific items will be deliberated on by the community.

The merger with SushiSwap is the fifth seen so far, and the first with a decentralized exchange platform. Previous integrations included other yield optimization protocols like Pickle Finance and Akropolis, the Cream lending protocol and the Cover insurance platform.

Source: https://cointelegraph.com/news/yearn-s-merger-with-sushiswap-will-be-the-most-comprehensive-to-date

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Bitcoin futures hit $20.3K right before BTC price drops $1K in 10 minutes

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Bitcoin (BTC) futures hit $20,000 on Dec. 1 as all-time highs finally began to convert into a new price era for BTC/USD.

Data from TradingView showed Chicago Mercantile Exchange Bitcoin futures heading past the historic $20,000 mark during Tuesday trading.

BTC price: $20,000 sparks unique volatility

At press time, highs of $20,300 had appeared amid characteristic volatility, which saw BTC/USD crash to $19,000 in under ten minutes.

BTC/USD 1-minute chart for Dec. 1, 2020. Source: TradingView

“Worth noting that a $1,000 swing is just 5% now. Adjust accordingly,” popular pseudonymous trader CryptoBull tweeted in response to the flash crash. 

The move is nonetheless a momentous occasion for Bitcoin, which today has officially broken above its all-time high of $19,892 established nearly three years ago. 

With futures normally a modest percentage higher than the spot price, CME and other operators’ order books were already primed to head into uncharted territory first. CME in fact passed $20,000 when it launched at around $20,700 in December 2017, with the market still waiting for new all-time highs on Tuesday.

CME Bitcoin futures 1-week chart. Source: TradingView

As Cointelegraph reported, record volume and open interest had already buoyed analysts keen to see the extent of institutional interest in Bitcoin as 2020 draws to a close.

This year has differentiated Bitcoin from 2017 when a previous attempt to crack $20,000 on spot markets coincided with the first futures markets going live.

Thanks to this weekend’s volatility, a giant $1,300 “gap” in futures markets remained open as the new highs hit, this traditionally suggesting that BTC/USD will fall to “fill” it in. In this case, such a pullback could take the pair as low as $16,900.

Source: https://cointelegraph.com/news/bitcoin-futures-hit-20-3k-right-before-btc-price-drops-1k-in-10-minutes

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