Tag Archives: market

Anndy Lian’s Keynote Speech at GNSEC 2022: Future of NFTS, Regulations & Bear Market Benefits

Anndy Lian’s Keynote Speech at GNSEC 2022: Future of NFTS, Regulations & Bear Market Benefits

In the digital transformation trend, the transformation of software engineering technology plays an important role and leads the development pattern of the digital technology industry.

GNSEC 2022 Global Next Generation Software Engineering Online Summit focuses on the full spectrum of software engineering and technology to define a new generation of software engineering. It aims to gather experts, scholars and practitioners in the software engineering industry to tell important latest research results, share the most cutting-edge technical practice experience, and promote mutual exchange and cooperation between experts in production, learning and research.

The event brought more than 1,000 registered delegates and will provide an on-site virtual experience that allows attendees to interact, learn and grow together. The online summit will focus on DevOps, Cloud Native and Open Source, AI, Testing and Quality, R&D performance and O&M-related issues, while focusing on software engineering best practices in finance, communications, the internet and many other industries. Thus, breaking down industry barriers and making technology drive performance.

His topic on NFT is timely for the industry as there are more people who are into NFT and would like to find out more.

Anndy Lian is one of the speakers at the event. He is an early blockchain adopter and an intergovernmental expert on crypto matters. His recent book “NFT: From Zero to Hero” has sold more than 8,000 copies on Bybit NFT Marketplace and now selling on Amazon and Google books.

Around 105 nations have legalised NFTs expressly or as part of a larger recognition of cryptocurrencies and virtual currencies. However, as the aforementioned list illustrates, legislation regarding NFTs is frequently general and not designed mainly for NFTs.

The U.S., Canada, Australia, and most of the European Union are notable examples of integrated and moderately regulated markets. In each of these jurisdictions, the predominant legal strategy is to view NFTs as either a type of capital gains taxable asset or a component of an individual’s income tax portfolio.

Anndy mentioned in his speech that creators must look at regulations before starting their businesses. there are still a lot of nations where NFTs and cryptocurrencies are either implicitly or expressly banned. This is because those governments view NFTs and other digital assets as threats to the current financial system and sources of illicit and/or terrorist financing. China, Vietnam, Algeria, Egypt, Qatar and Nepal are notable instances.

GNSEC is Co-Organized by DAOPS FOUNDATION and Escom Event, and supported by HKPC and Greatops. This is GNSEC’s second online event in Southeast Asia.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

SUSHI / BTC prediction: SushiSwap showing signs of life despite shrinking exchange market share

SUSHI / BTC prediction: SushiSwap showing signs of life despite shrinking exchange market share

SUSHI is well poised to see growth. These are the additional comments that I have.

Let’s track back to around two weeks ago. GoldenTree Asset Management has invested $5.3 million into SUSHI governance token. During that period of time, investors were all excited about the news. Social media mentions spiked to around 0.851%. They gained 14% in 24 hours back then.

5 days ago, we saw a plunge of around 20% when they announced their newly appointed CEO, Jared Grey. He was being accused of being involved in a couple of scam projects and once sexually assaulted a horse. The token price went down to around $1.0962 at that point. Jared has since written his statement and shared it on his personal Medium page to address all the allegations. The token has since traded higher to $1.51 this morning.

All these price movements are driven by news and this is no way sustainable. The need for SUSHI to continue to build, find new niches and new products are important for its growth. SushiSwap started with a “vampire attack” if you remember, it has drawn so much attention back then, personally I hope to see that kind of drive back to the platform.

Retail investors got to know this. In order for SUSHI to grow, SushiSwap got to continue growing in popularity. As much as I believe decentralised exchanges are the way forward, the competition is very high and it is ever changing. SUSHI or not, it all depends on how strong your team is. I look forward to their new developments.

SUSHI / BTC prediction: SushiSwap showing signs of life despite shrinking exchange market share

 

Since facing major losses in the crypto winter of 2022 cryptocurrencies have been struggling to resurface. Bitcoin (BTC) is down by 70% since its November 2021 highs while SushiSwap’s SUSHI fell by 94% since its all-time high of 14 March 2021, as of 21 October.

How do the two tokens trade against each other and what does the SUSHI to BTC forecast suggest amid the current bear market? Here we take  a look at the SUSHI/BTC pair and some of the factors that may shape its exchange rate.

What is SUSHI/BTC?

SUSHI/BTC is the exchange rate between SUSHI, the native cryptocurrency of the decentralised exchange (DEX) platform SushiSwap, and BTC, the native coin of the Bitcoin Network.

Joerg Hansen, Caiz Development GMbh’s CEO, told Capital.com that the SUSHI to BTC value is calculated in the same way that a fixed exchange rate is calculated and is based on the rates of up to 100 exchanges.

Bitcoin is the pioneer cryptocurrency launched in 2009 by a creator or group of creators using the anonymous nickname Satoshi Nakamoto. BTC is built, distributed, exchanged and stored on a collective network known as a blockchain, and the token is used for peer-to-peer payments.

The cryptocurrency is secured by a Proof-of-Work (PoW) consensus mechanism, which is how new bitcoins are mined. Miners gain BTC as rewards for solving mathematical equations that confirm whether a BTC transaction is legitimate.

Approximately every four years or once every 210,000 mined BTC blocks, the blockchain goes through a halving event, which is when the rewards given to miners are cut in half, decreasing the amount of bitcoins in circulation.

SushiSwap is a decentralised finance (DeFi) platform that aims to solve what it describes to be “the inability of disparate forms of liquidity to connect with markets in a decentralized way”. It creates automated liquidity pools through which anyone can swap a crypto token based on the ERC-20 Ethereum protocol for another ERC-20 token.

The platform’s Japanese food-themed ecosystem was launched in 2020 by an anonymous creator who calls themself Chef Nomi. The software is running on the Ethereum blockchain, and is often compared to other similar platforms like Uniswap (UNI) and Balancer (BAL).

SushiSwap uses a number of products to achieve full liquidity and decentralisation, and allows users to exchange, earn, lend and borrow digital assets, stack yields and leverage funds. In addition, SushiSwap has smart contract capabilities, which means it also supports the creation of non-fungible tokens (NFTs).

SUSHI coins are rewarded to users for maintaining liquidity on the platform. They can also be used for staking and governance.

SUSHI has a maximum supply of 150 million coins. Meanwhile, BTC’s maximum supply is capped at 21 million.

SUSHI to BTC price history

The SUSHI to BTC exchange rate surged by more than 235% in the first four days following its launch, up from 0.0002201BTC on 19 August 2020 to 0.0007436BTC, its all-time high. The SUSHI value in USD surged by 250%.

The SUSHI/BTC price chart shows that SUSHI was quick to dip against BTC as the exchange rate’s value lost over 95% of its gains in the following months, down to 0.00003331BTC by mid-November 2020.

SUSHI to BTC price chart, 2020 – 2022

At the start of 2021, SUSHI/BTC jumped 317.5% from 0.0001001BTC on 8 January 2021 to 0.0004179BTC on 5 February 2021, in line with a hike in the SUSHI price in USD as the platform announced the launch of MISO, a suit of open-source smart contracts.

SUSHI to USD price chart, 2020 – 2022

The bull trend in the SUSHI to BTC price chart lasted for the following five months and by 19 May 2021 the exchange rate reached 0.0005008BTC, up by 19.8% as the SUSHI ecosystem became compatible with the Polygon blockchain.

Following the positive trend, SUSHI/BTC fell by 60.2% down to 0.0001994BTC by 26 June 2021 and continued to fluctuate for the following four months seeing minor losses and gains.

By 16 September 2021, SUSHI/BTC reached 0.0003152BTC but within a month fell by 40%. Around this time, the BTC value in USD was picking up the momentum, surging by around 55% to reach its all-time high of $64,158.12 on 13 November 2021, up from $41,551.27 at the end of September 2021.

The SUSHI to BTC exchange rate continued to further decline and reached 0.0001069BTC by the beginning of December 2021. By the end of the month, the rate surged by 103% to 0.0002174BTC as the platform launched a migration to the Optics V2 bridge, but the trend was short lived.

In line with recent negative market sentiment, SUSHI/BTC has lost over 65% of its value with the pairing’s current exchange rate trading at  0.00006957BTC as of 21 October.

Caiz Deveopment’s Hansen noted that in terms of technical analysis, the SUSHI/BTC price is struggling:

“Based on technical indicators such as the Relative Strength Index (RSI) and important simple and exponential moving averages, SUSHI is currently in neutral territory and Bitcoin in a bearish one, which suggests that now is a bad time to exchange Sushi for Bitcoin.”

News driving SUSHI/BTC

At the start of October, Golden Tree Asset Management announced that it will stake $5.3m into SUSHI. Anndy Lian, chief digital advisor at the Mongolian Productivity Organisation and author of NFT: From Zero to Hero, told Capital.com that the announcement sparked enthusiasm in the online SUSHI community, but the hype was short-lived. Lian explained:

“Five days ago, we saw a plunge of around 20% when [SUSHI] announced their newly appointed CEO, Jared Grey. He was being accused of being involved in a couple of scam projects and once sexually assaulting a horse. The token price went down to around $1.0962 at that point,” Lian noted.

On 11 October, a Twitter user under the handle YannickCrypto alleged in a series of tweets that Grey was involved in a series of scam projects between 2012 and 2020. The user added that they met Grey in 2019. Other users chimed in, alleging that the CEO had also engaged in bestiality with a horse.

Grey addressed the scam allegations, saying they were “100% untrue”. But SUSHI did not resurface.

Caiz Deveopment’s Hansen told Capital.com that “sharply rising interest rates” have also been “poisonous” for the SUSHI to BTC exchange rate, as well as the declining trading volumes on cryptocurrency exchanges. He noted:

“Another important reason is the huge competition in the crypto exchanges. Since the bitcoin peak, the volume of the exchanges has fallen up to 60% this year. You can see a clear decline in crypto exchanges and coins like SUSHI because you don’t earn as much in fees at the moment.”

SUSHI/BTC forecast for 2022, 2023 and beyond

Based on the analysis of past performance, as of 21 October, the algorithm-based forecasting service Wallet Investor predicted that SUSHI/USD could fall to $0.0663 in 2023. The platform did not provide a price prediction for 2027.

In terms of its BTC price forecast, the site saw BTC/USD trade at $25,101.65 in 2023 and reach $46,783.81 by 2027.

While Wallet Investor did not provide a direct SUSHI to BTC forecast, data suggested that the exchange rate could be 0.0000025098BTC in 2023.

DigitalCoinPrice predicted that SHIB/USD could rise to $1.63 by the end of 2022. The site’s data, as of 21 October, showed that the coin was expected to trade at $2.18  in 2023 and $3.49  in 2025. Its long-term prediction saw the coin reaching $7.32 in 2030.

The site also gave an upbeat BTC/USD forecast, expecting the coin to grow to $24,108.19 by the end of 2022, $31,466.60 in 2023, $49,830.68 in 2025 and surpass $105,000 in 2030.

DigitalCoinPrice’s SUSHI to BTC forecast for 2022 expected the pair to reach 0.0000676119BTC and 0.0000692798BTC in 2023. The site’s SUSHI/BTC forecast for 2025 stood at 0.0000700372BTC. Its long-term SUSHI/BTC forecast for 2030 was 0.0000697143BTC.

Hansenalso  gave a bullish SUSHI to BTC price outlook:

“In my opinion, the SUSHI/BTC price will climb beyond what we have seen so far, mainly because of its popularity and resilience despite it being around since the beginning stages of DeFi.”

In order for SUSHI to regain past losses, the platform must continue to develop and “find new niches and new products”, Lian said. He added:

“SushiSwap started with a ‘vampire attack’ if you remember, it has drawn so much attention back then…As much as I believe decentralised exchanges are the way forward, the competition is very high and it is ever changing. SUSHI or not, it all depends on how strong your team is. ”

Remember that analysts’ and algorithm-based predictions can be wrong and shouldn’t be used as a substitute for your own research.

Always conduct your own due diligence on a cryptocurrency project before trading, looking at the latest news, a wide range of analyst commentary and technical analysis. Note that past performance does not guarantee future returns. And never trade money you cannot afford to lose.

 

Source: https://capital.com/amp/sushi-btc-prediction-sushiswap-bitcoin-exchange-market-share

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Going back to basics. Do I really need another picture of an ape? NFT market slumps in August

Going back to basics. Do I really need another picture of an ape? NFT market slumps in August

The article did reflect some of my views but also did not. The core message that I was trying to say is that the NFT market is at the rebuilding stage right now. The previous highs that were in the bull market are in a challenging stage. The prices were unsustainable, and it will continue this way as the macro environment is not looking too optimistic now.

There are many contributing factors to this current state but is this the end of the NFT markets? It is not.

Right now there are more projects in the markets working hard behind the scene working on content, books, music, and better gaming assets and experiences. The speculation market has died down, and this is actually very healthy for all of us to grow.

This is a time to go back to basics. We can look at the 5Ps of marketing- Product, Price, Promotion, Place, and People.

When we are in the bull market, whatever products can sell without doing anything. But in the current times, we need to look at the product. Is it value for money?

Pricing is another factor to look at. PFP in the good times can start at a 1 ETH floor price. We should watch our pricing more carefully right now. Take my NFT book, for example, I choose to launch it on Bybit NFT Marketplace at $2.99, not $29.99. This decision was made after looking at the market and the demand from my communities.

Lastly, I think people and community are what we should be building too. If you do not have this, this is the best time to look into it now. This will also help you to get better results when the market turns better.

Anndy Lian

 

Do I really need another picture of an ape? NFT market slumps in August

The NFT hype from earlier in the year is dying off as the market continues its downward path into the final third of the year. Fire sale coming for apes and cats?

The number of unique non-fungible token (NFT) buyers in August fell below 500,000 for the first time in a year and extended the drop in purchasers to four consecutive months, according to NFT aggregation site CryptoSlam.

Due to an increase in Ethereum prices in early August, total sales rose to US$730 million from July’s US$650 million, but remain a long way short of this year’s January peak of US$4.5 billion.

Yehudah Petscher, NFT relations strategist for CryptoSlam, said the NFT market has caught up with the rest of the world, as traditional markets have been hammered by concerns about rising inflation and interest rates, as well as other global developments.

“People are being much more selective with what they buy and questioning, ‘Do I really want to buy this picture of an ape or a cat for $500?’” Petscher told Forkast in an interview. “You used to give no pause before and you would buy that and you were happy to. And now no, now you need a product. You need something more than just the picture.”

The previous high prices in the NFT market were unsustainable, said Anndy Lian, author of the new book “NFT: From Zero to Hero,” in an email response to questions. The “[NFT] environment is not looking too optimistic,” he said, though added that price retrenchments are also when companies build anew.

The Merge

One event on the horizon could further disrupt the NFT market — Ethereum’s Merge planned for later in September.

The Merge will see the world’s second-largest blockchain, which has a market cap of just under US$200 billion and accounted for almost 70% of all NFT transactions in August, move from a proof-of-work (PoW) consensus algorithm to proof-of-stake (PoS).

The buzz around the Merge, saw Ethereum prices almost double in a month to reach as high as US$2,022 in mid-August. Ethereum Classic, the original blockchain from which Ethereum was forked, also more than doubled in the same period to a five-month high of US$45.51.

Both have since fallen back, with Ethereum trading at US$1,587 on Friday in Asia and Ethereum Classic at US$32.67.

Petscher said the Merge might “introduce a little chaos” to the market.

As part of the Merge, all NFTs currently hosted on the PoW blockchain must be replicated on the new PoS network to become the “official” versions of the NFTs.

OpenSea, by far the industry’s largest marketplace, announced Thursday that they will only be supporting the PoS versions of NFT collections, but that doesn’t mean a market for the PoW versions won’t emerge, Petscher said.

Deja vu?

This situation is not without precedent. A debate emerged earlier this year surrounding the authenticity of CryptoPunks – one of the market’s leading collections with over US$2 billion in sales – as the current collections are actually re-issues designed to fix a bug in the original run, now known as V1 CryptoPunks.

While the CryptoPunks creators, Lava Labs, originally sought to discredit the V1 collection, collectors pushed back and now V1 CryptoPunks are traded in their own right as a piece of NFT history — though with much smaller total sales of US$75 million.

Aside from the Merge, Petscher said it will take a significant catalyst from outside the NFT industry to shake off the current market slump. One example could be Apple Inc. releasing its long-awaited virtual reality (VR) headset, which Petscher says has huge potential for NFT integration.

“It’s going to require something big like that,” he said. “Unless, of course, the world changes; if  suddenly the war ends and the traditional stock market starts improving, that would lead to the good times again.”

“But I don’t think anybody sees that on the horizon right now.”

 

Source: https://forkast.news/picture-ape-nft-market-slumps-august/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j