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Techemy Capital and Enzyme team up to launch managed ETH-BTC fund

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Digital asset investment firm Techemy Capital, today announced the launch of its Holistic ETH-BTC Portfolio in partnership with Enzyme Finance (formerly Melon Protocol), an Ethereum-based infrastructure for on-chain asset management.

Powered by digital asset data infrastructure company Brave New Coin, the Holistic ETH-BTC Portfolio is an actively traded portfolio that provides exposure to Bitcoin and Ethereum price action using Techemy Capital’s long and short trading strategies, designed by its in-house trading team.

The portfolio quantifies bullish or bearish conditions to add or subtract from each investor’s starting position, based on an assessment of on-chain activity, token age spent, and technical analysis. The Holistic ETH-BTC Portfolio executes trading decisions using the daily price chart on Brave New Coin’s Bitcoin Liquid Index (BLX) and Ethereum Liquid Index (ELX).

Enzyme helps professional fund managers to build and scale their investing strategies with an emphasis on security; providing an easy and low-cost way to create and operate an investment strategy with built-in accounting tools. Enzyme connects fund managers to a pool of potential investors, making it easier to attract and build a community of supporters. It also provides access to a broad ecosystem of DeFi tokens and protocols. Enzyme is integrated with Chainlink price oracles, which enables reliable real-time pricing.

Key features of the Holistic ETH-BTC Portfolio include: 

  • Non-custodial storage. Ethereum smart contracts replace the need for intermediaries while ensuring safe asset storage, putting investors in control of their funds at all times.
  • No human error. The portfolio’s architecture allows Techemy to program it to behave per preset parameters, eliminating the risk of human error.
  • Transparency. Ethereum blockchain technology ensures each transaction’s validity, the immutability of transactions, and total visibility over assets’ movement on the public ledger. Investors are able to track the portfolio’s performance and NAV 24/7/365.
  • Low cost. Innovations in DeFi help reduce administrative costs by 98 percent, meaning investors pay less in commission and no hidden fees.
  • Flexible subscription and withdrawal. Investors are able to buy-in and exit from the portfolio at any time. There are no lock-ups or freeze periods, which increases capital efficiency.

The portfolio’s rotation of assets includes Wrapped Bitcoin ($wBTC), Ethereum ($ETH), USD Coin ($USDC), Inverse ETH ($iETH), and Inverse BTC ($iBTC). These inverse assets, powered by Synthetix, allow Techemy’s traders to profit from a decline in the price of the underlying asset. Techemy is able to access deep liquidity across the entire Ethereum network thanks to Enzyme’s integration with Paraswap, a Decentralised Exchange aggregator that optimizes order routing and minimizes slippage.

Techemy also provides investors with access to Nexus Mutual and Unslashed Finance, DeFi protocols that issue insurance-like cover for the technical risk of smart contracts.

Following this launch, Techemy Capital will roll out a Managed DeFi Portfolio to offer investors exposure to the entire DeFi ecosystem.

“Following the exceptional performance of Techemy Capital’s private DeFi Portfolio in 2020, we are excited to open this product through Enzyme to the broader investor community. We are looking forward to working with Enzyme and our growing number of exchange partners to deliver the highest-grade digital asset and DeFi investment products.”
– Fran Strajnar, Founder of Techemy Capital and Brave New Coin

Source: https://www.cryptoninjas.net/2021/02/10/techemy-capital-and-enzyme-team-up-to-launch-managed-eth-btc-fund/

Blockchain

Data shows parabolic-style growth in layer-2-based DeFi and DEX platforms

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In the increasingly competitive landscape of blockchain technology and cryptocurrencies, protocol innovation and the ability to solve the biggest problems facing the crypto community are necessary for any project that looks to have long-term success in the ecosystem. 

Recently, the emergence of layer-2 technology like Arbitrum, Optimism and a bridge to the Avalanche ecosystem is revolutionizing the way investors, builders and developers interact with various protocols because each facilitates fast, low-cost transactions that improve the fundamentals of the decentralized finance (DeFi) ecosystem while also making it easier for retail-sized investors to capitalize on opportunities.

According to data from Token Terminal, DeFi continues to be one of the fastest-growing sectors of the crypto economy as evidenced by increases in the total value locked (TVL) on protocols. Some of the biggest gains from last week occurred on cross-chain compatible networks and layer-two protocols that offer a lower fee environment.

Top-6 weekly gainers in total value locked. Source: Token Terminal

Two of the top-6 projects on the list above, Trader Joe and Pangolin, are found in the Avalanche network which has seen significant inflows and an increase in TVL since the launch of an upgraded cross-chain bridge that allows Ethereum-based tokens and applications to migrate to the Avalanche ecosystem. 

Total value locked on Avalanche. Source: Defi Llama

Governance features have also been a positive factor in helping spark new growth for projects as both Alchemix Finance and Rari Capital have ongoing, or recently completed votes designed to improve their ecosystems and increase community involvement.

Related: Bitcoin is great, but real crypto innovation has moved elsewhere

Layer-1 projects and decentralized leveraged exchanges thrive

Another emerging trend shown in the data from Token Terminal is the growing strength of derivatives and options trading protocols as regulators increasingly crack down on centralized exchanges that offer derivatives services and have loose KYC and AML requirements.

Top-6 weekly gainers in protocol revenue. Source: Token Terminal

As shown on the chart above, two of the biggest gainers in terms of protocol revenue over the past week were dYdX and Hegic, a pair of protocols that offer decentralized derivatives and on-chain options trading to investors.

Global regulators have increased their scrutiny on leveraged and derivatives trading platforms in recent months, while at the same time, established exchanges like Coinbase have applied to offer futures trading services, indicating that this is one sector poised for continued growth as cryptocurrencies become more mainstream.

dYdX has also benefited from the fact that it operates on a layer-two solution developed in conjunction with StarkWare that enables cross-margined perpetual’s with zero gas costs and minimal trading fees.

Data shows that Ethereum-competitors such as Tezos (XTZ) and Cosmos (ATOM) have al seen an increase in revenue over the past week, suggesting that the layer-1 battle is heating up as high fees on the Ethereum network continue to motivate users to explore other options.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.


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Source: https://cointelegraph.com/news/data-shows-parabolic-style-growth-in-layer-2-based-defi-and-dex-platforms

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Blockchain

Data shows parabolic-style growth in layer-2-based DeFi and DEX platforms

Published

on

In the increasingly competitive landscape of blockchain technology and cryptocurrencies, protocol innovation and the ability to solve the biggest problems facing the crypto community are necessary for any project that looks to have long-term success in the ecosystem. 

Recently, the emergence of layer-2 technology like Arbitrum, Optimism and a bridge to the Avalanche ecosystem is revolutionizing the way investors, builders and developers interact with various protocols because each facilitates fast, low-cost transactions that improve the fundamentals of the decentralized finance (DeFi) ecosystem while also making it easier for retail-sized investors to capitalize on opportunities.

According to data from Token Terminal, DeFi continues to be one of the fastest-growing sectors of the crypto economy as evidenced by increases in the total value locked (TVL) on protocols. Some of the biggest gains from last week occurred on cross-chain compatible networks and layer-two protocols that offer a lower fee environment.

Top-6 weekly gainers in total value locked. Source: Token Terminal

Two of the top-6 projects on the list above, Trader Joe and Pangolin, are found in the Avalanche network which has seen significant inflows and an increase in TVL since the launch of an upgraded cross-chain bridge that allows Ethereum-based tokens and applications to migrate to the Avalanche ecosystem. 

Total value locked on Avalanche. Source: Defi Llama

Governance features have also been a positive factor in helping spark new growth for projects as both Alchemix Finance and Rari Capital have ongoing, or recently completed votes designed to improve their ecosystems and increase community involvement.

Related: Bitcoin is great, but real crypto innovation has moved elsewhere

Layer-1 projects and decentralized leveraged exchanges thrive

Another emerging trend shown in the data from Token Terminal is the growing strength of derivatives and options trading protocols as regulators increasingly crack down on centralized exchanges that offer derivatives services and have loose KYC and AML requirements.

Top-6 weekly gainers in protocol revenue. Source: Token Terminal

As shown on the chart above, two of the biggest gainers in terms of protocol revenue over the past week were dYdX and Hegic, a pair of protocols that offer decentralized derivatives and on-chain options trading to investors.

Global regulators have increased their scrutiny on leveraged and derivatives trading platforms in recent months, while at the same time, established exchanges like Coinbase have applied to offer futures trading services, indicating that this is one sector poised for continued growth as cryptocurrencies become more mainstream.

dYdX has also benefited from the fact that it operates on a layer-two solution developed in conjunction with StarkWare that enables cross-margined perpetual’s with zero gas costs and minimal trading fees.

Data shows that Ethereum-competitors such as Tezos (XTZ) and Cosmos (ATOM) have al seen an increase in revenue over the past week, suggesting that the layer-1 battle is heating up as high fees on the Ethereum network continue to motivate users to explore other options.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cointelegraph.com/news/data-shows-parabolic-style-growth-in-layer-2-based-defi-and-dex-platforms

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Blockchain

Traders buy the Bitcoin dip even as Evergrande’s implosion rocks stock markets

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Bitcoin (BTC) investors seem concerned about the increasing speculation that China’s second-largest property developer, Evergrande Group, will default on its $300 billion in debts. These fears manifest in global equities markets which saw a 1.5% to 3% drop at this morning’s market open. 

Despite the price move, the BTC outflow (net withdrawals) from exchanges has continued a multi-month trend, particularly on Coinbase Pro.

Traders also know that every exchange has a different user profile. For example, liquidations on Bybit tend to be more extreme when compared to FTX, which is known for having more conservative clients.

Take, for example, today’s drop below $43,000, which caused a $1 billion long contracts liquidation led by Bybit even though there was $2.34 billion in futures open interest. This number is lower than Binance’s $3.66 billion and FTX’s $2.51 billion liquidations.

Bitcoin futures liquidations past 24 hours, Sept. 20. Source: Bybt.com

The data above shows that Bybit traders are more risk-takers, typically using higher leverage. Meanwhile, Binance and FTX derivatives investors were proportionately less impacted by the 11% daily negative move.

Pro traders remain neutral-to-bullish

To understand how bullish or bearish professional traders are leaning, one should analyze the futures premium (or basis rate). This indicator measures the difference between longer-term futures contracts and the current spot market levels.

In healthy markets, a 5% to 15% annualized premium is expected, which is a situation known as contango. This price gap is caused by sellers demanding more money to withhold settlement longer.

A red alert would emerge whenever this indicator fades or turns negative, known as “backwardation.”

Bitcoin 3-month futures annualized basis. Source: Laevitas.ch

As depicted above, the current 7% annualized premium is neutral but in line with the previous month’s average. Had pro traders become worried or bearish, this indicator would have flipped below 5%.

Top traders long-to-short ratio shows buying activity

Investors should monitor the top traders’ long-to-short ratio at leading crypto exchanges to precisely measure how professional traders are positioned. This metric provides a complete view of the traders’ effective net position by gathering data from multiple futures and margin markets.

OKEx and Binance top traders Bitcoin long-to-short ratio. Source: Bybt.com

It is worth highlighting that each exchange gathers data on top traders differently because there are multiple ways to measure a clients’ net exposure. Therefore, any comparison between multiple providers should be made on percentage changes instead of absolute numbers.

OKEx top traders long-to-short ratio hiked from an 8% position favoring longs to the current 54%, the highest level in ten days. Binance derivatives traders, on the other hand, held a consistently 10% ratio favoring longs despite the Bitcoin price correction.

Both data confirm that retail traders were likely the ones more impacted due to high-leverage bullish positions. Meanwhile, pro traders either kept their positions or took advantage of the discounted price to add long positions.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.


PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://cointelegraph.com/news/traders-buy-the-bitcoin-dip-even-as-evergrande-s-implosion-rocks-stock-markets

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