The International Monetary Fund (IMF) had recently published a video explaining what cryptocurrency is. Besides suggesting that cryptocurrency could “completely change the way we sell, buy, save, invest, and pay our bills,” IMF went on by saying that it “could be the next step in the evolution of money.”
— IMF (@IMFNews) August 23, 2020
IMF Explains Crypto
The IMF tweeted the video giving vital details on what cryptocurrency is. Referring to cryptocurrency as “a special currency,” the two-minute video attempts to outline its benefits in payments, such as by removing middlemen, lowering costs, and increasing transaction speed.
It also warned about sees as risks, such as anonymity and volatility. The video has garnered more than 523K views at the time of writing; it has been retweeted 6.9K times, liked 10.2K times, and received about a thousand comments. The video ends with:
“If we can counter the risks, then this new technology or some variation of it can completely change the way we sell, buy, save, invest, and pay our bills. And who knows, this could be the next step in the evolution of money.”
Barry Silbert a globally known hedge fund manager and the founder Grayscale of Global leader in digital currency asset management, offering single asset & diversified exposure via private & public funds commented on IMF educative video on crypto. He said “So, um, the IMF is shilling cryptocurrencies now”
So, um, the IMF is shilling cryptocurrencies now https://t.co/d67Pt87xm9
— Barry Silbert (@barrysilbert) August 23, 2020
Understanding Crypto Assets
Crypto assets are digital representations of value, made possible by advances in cryptography and distributed ledger technology (DLT). The blockchain technology allows using distributed ledgers for generating and keeping records without the need for a central party (for example, a central bank) to administer the system.
Crypto assets are denominated in their own units of account and can be transferred peer-to-peer without an intermediary.
List of unpopular Cryptos likely to outperform
Tyler Swope has tipped some pretty unknown crypto assets of likely doing very well, amid the recent price correction.
Despite the recent consolidation in crypto assets, a top crypto strategist trader, Tyler Swope has tipped some pretty unknown crypto assets of likely doing very well, amid the recent price correction that seems to be pausing the bullish momentum.
The crypto trader told his 201, 000 followers on Youtube that he was recommending decentralized finance (DeFi) platform Bao Finance (BAO).
He went on by giving his bias it on the fact that the unknown crypto asset was making progress while settling down from its initial hype stage;
“The xDai pools are deployed, a few minor bugs, but as we can see from the Baoman’s mouth: ‘Block rewards were pushed back one more day but the farms are working and stable. User deposits can start now.’ Yes, the crops are ready to be farmed on xDai. They are moving exactly as planned,” Swope said.
The top influencer further hinted that the crypto-asset could be used as collateral for spot trading on the FTX crypto exchange.
The other crypto asset on the experts’ list includes Deus Finance (DEUS), which is created in allowing users to trade conventional investments asset like equities and commodities directly on Ethereum.
“Deus is officially launching its decentralized trading platform in the next 48 hours. You will be able to trade hundreds of stocks, forex, and selected cryptos on xDai without time restriction,” he stated.
The crypto asset on Swope’s radar is DeFi platform Non-Fungible Yearn (NFY). He recommended the crypto asset taking to account it is expanding the opportunities in the non-fungible tokens (NFTs) subsector by “taking NFTs and applying it to DeFi.”
“They are the first DeFi protocol to utilize NFTs to make yield farming more secure and flexible by protecting the wallet and allowing the first transferable stake. What this does is create an ecosystem where instead of wallet addresses that represent the right to stake, an NFT will represent the right to the staked funds and the yield they generate. You will be able to trade your staked tokens and future yield via an NFT,” he added.
Football-based Crypto, is world best performing Crypto in 7 days
Chiliz traded at $0.105397 with a daily trading volume of about $589 million.
A pretty unknown crypto asset, based on arguably the most popular sport has outperformed all major Crypto assets tracked by Nairametrics Week to Week.
At press time, the sport-based Crypto traded at $0.105397 with a daily trading volume of about $589 million. Chiliz is up 97% for the week.
Chiliz is currently ranked the 91st most valuable crypto asset, a market value of $573,581,586 It has a circulating supply of 5,442,094,892 CHZ coins and a maximum supply of 8,888,888,888 CHZ coins
The fast-rising crypto can be traded on the following crypto exchange trading that includes OKEx, HBTC, Binance, Huobi Global, and Xtheta Global.
Chiliz, powering Socios.com, aims to give sports and esports fans the ability to crowd-manage their favorite teams, games, leagues, and events.
Football clubs are now using blockchain, to facilitate better experiences for their fans.
Football is by far the most popular game worldwide. The last football World Cup tournament held in Russia 2018, had over 3.5 billion individuals watching the matches. This shows that about half of the world’s population is keen on football.
Nairametrics believes such partnerships with these football clubs via blockchain will open more economic opportunities and leverage the wider audience via collaboration with the industry’s global brands.
Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.
Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.
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