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Cryptocurrency

Harvest: Crypto that gives interest on your Bitcoin

Harvest offers crypto users the platform to supply crypto assets for lending and earn interest on them.

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Harvest: Crypto that gives interest on your Bitcoin

Harvest, a new (DeFi) platform created on the Kava blockchain, plans to launch a product that will enable users to earn more on Bitcoin, XRP, Binance coin, and two other cryptos.

Harvest offers crypto users the platform to supply crypto assets for lending, and earn interest on them, as well as use their crypto as security for borrowing, according to Brian Kerr, Kava’s co-founder and chief executive.

READ: Exclusive: Best bank in Nigeria judging by the numbers 

Both borrowers and lenders earn HARD, Harvest’s governance token. It also supports Chainlink LINK, the Binance USD stablecoin (BUSD), Binance Coin (BNB), and Kava’s digital assets—KAVA and USDX

On Harvest there are three major activities:

Supply: You can safely supply your digital assets on Harvest and earn interest.
Borrow: You can use your digital assets as collateral to borrow others.
Earn: Suppliers and borrowers earn HARD, the governance token of Harvest.

READ: Ripple reports 1,760% surge in XRP sales in Q2 2020

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How Harvest was created?

Harvest is an application designed on Kava; as such, it leverages Kava’s existing validators for security, bridges for cross-chain asset transfer, and partners services such as Chainlink oracles for price-reference data.

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What crypto experts are saying about Harvest

“Harvest.io is a logical addition to the DeFi ecosystem taking shape around Kava. We think the choice it brings to investors to lend and borrow assets, not well supported by existing platforms, is really exciting—as is the ability for Kava stakers to earn HARD tokens and participate in the new platform’s governance.

“The Kava community is one of the most active in crypto so we look forward to joining with them to support Harvest’s launch and future growth.”  –Richard Galvin, Digital Asset Capital Management

Stanbic 728 x 90

READ: Crypto: UniSwap gives each owner over $2,000

“Kava’s shift from “DeFi application” to “application platform” means that KAVA token holders get exposure to every new idea and implementation in the ecosystem. This is exciting and something we haven’t yet seen in the blockchain space.”– Michael Anderson, Framework Ventures

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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Cryptocurrency

Coinbase debuts on Nasdaq at around $100 billion valuation

Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN”.

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Coinbase, a Cryptocurrency exchange made its highly anticipated debut on Nasdaq on Wednesday, April 14, 2021, becoming the first company devoted entirely to cryptocurrency to enter the US stock exchange.

The IPO of Coinbase Global today was a big turning point for the cryptocurrency business. It had a rousing debut on Wall Street with the digital currency exchange’s stock growing as high as $429, giving it a market cap of $100 billion for a brief period of time.

According to analysts, retail trading accounts for 90% of Coinbase’s income, with the majority of trading taking place in the United States and focusing mainly on the two main cryptos: Bitcoin and ETHUSD. Dubbed the most talked-about IPO on Wall Street, Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN.”

What this means

Given Coinbase’s reception, Crypto optimists insist Bitcoin will not go anywhere in the near future, but will instead become more mainstream. They see the Bitcoin craze as the “start of a new era” in the digital currency world, rather than a passing phase.

Due to Bitcoin’s young and unpredictable existence, investors and public corporations are also wary of investing in it. However, as long as the currency’s popularity is sustained, the bubble hypothesis can be debunked as control and acceptance of the currency spreads further down the line, according to analysts.

It is important to note that Coinbase has a strong correlation with Bitcoin and as it benefits from its bullish run, it can also be hit by a downturn in the market.

What you should know

  • Coinbase has become popular amongst cryptocurrency optimists since being founded in 2012, for providing an easier way to exchange shares of digital currencies.
  • Coinbase announced last week that its first-quarter sales jumped 847% to $1.8 billion and that it currently has 56 million confirmed customers.
  • Coinbase is now one of the largest publicly traded firms in the United States, with a market cap of more than $100 billion.
  • Only 83 companies in the S&P 500 index have a market value greater than $100 billion.
  • The combined market value of Nasdaq Inc., which operates the Nasdaq Stock Market, and Intercontinental Exchange, which owns the New York Stock Exchange, is greater than Coinbase’s.

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Cryptocurrency

Dogecoin hits a new milestone, surges by 54%

DOGE experienced a strong 54% rally and established a new all-time high of $0.1161.

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The price of Dogecoin, the fast-rising crypto popularly referred to as DOGE experienced a strong 54% rally and established a new all-time high of $0.1161 amid strong buying pressures prevalent in the Cryptoverse.

While crypto pundits can’t clearly give the rationality behind the recent surge of Dogecoin, its debut as one of the most popular crypto on social media, with top celebrities including Elon Musk and Mark Cuban giving the crypto endless support, makes a strong case.

READ: Sacramento Kings becomes first sports team to offer salary option in Bitcoin

At the time of writing this report, Dogecoin was trading at $0.113824 with a daily trading volume of $11.3 billion. Dogecoin is up 54.49% for the day.

Dallas Mavericks owner, Mark Cuban is predicting the price of Dogecoin (DOGE) will eventually hit $1, after few days of accepting the crypto as a form of payment.

Dogecoin is a type of digital coin that is decentralized and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It is usually referred to as “the internet currency.”

READ: 3 Cryptos set to explode high

It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

Sigma Pensions

“The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of the cryptocurrency research firm, Delphi Digital.

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