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Crypto liquidity protocol KyberSwap implements new live price charts and trade route displays » CryptoNinjas

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KyberSwap, a DEX aggregator and liquidity protocol for traders and liquidity providers, announced today it now provides live price charts for all tokens. Moreover, the Kyber team has also made the display of trade routes more prominent, showing users which DEXs and liquidity sources their trade is routed through.

1. Live Price Charts Offering More Insights

Live price charts provide useful data for any trader. When deciding whether to purchase a new token or hodl an existing one in your portfolio, the live price charts will give you a glimpse into general buying or selling activity and trends, as well as help narrow down the entry or exit price point for trades. KyberSwap’s live charts are available in different time frames (1H, 4H, 1D, 1W, and 1M).

2. Trade Route Showing The Best Rates

As an aggregator, KyberSwap routes & splits trades across multiple decentralized exchanges and sources (including KyberSwap’s own pools) to guarantee the best rate for 20K+ tokens on 6 supported chains. Popular DEXs such as Uniswap, Sushiswap, Curve, Balancer, QuickSwap, Pancakeswap, Traderjoe, Pangolin, SpookySwap, SpiritSwap, VVS Finance, and more have been integrated.

Viewing these trade routes via smart contract code and on-chain transactions may be complex for non-technical users. With the new trade route display, users can trade with confidence while getting insights into where KyberSwap is drawing liquidity from.

“KyberSwap aims to be the best DEX aggregator and liquidity protocol for traders and liquidity providers. We are committed to continuously improving our UI/UX based on user feedback to ensure a seamless trading experience. We hope our new convenient visual aids will help you navigate the fast-changing DeFi world and reach your trading targets!”
– The Kyber Team



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Fed Preview: How Rate Hikes Could Stimulate Demand for Stablecoins

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With the price of bitcoin (BTC) tanking and the U.S. Federal Reserve now moving to tamp down rising inflation, some analysts think dollar-pegged stablecoins could be this year’s winning crypto trade.

The Federal Open Market Committee (FOMC), the Fed’s monetary policy-setting committee, holds its January meeting starting Tuesday. Traditional and crypto investors will be awaiting what is said during this meeting, likely the last before several interest rate increases are announced during this year.

While other central banks may keep their monetary policy loose, the Fed is expected to tighten in order to slow increasing inflation. The U.S. Consumer Price Index (CPI) rose 7% in December from 12 months earlier, the highest annual inflation rate since 1982. President Joe Biden has said it’s “appropriate” for the central bank to “recalibrate” its monetary policy.

The FOMC, which sets the Fed’s monetary policy, holds eight two-day meetings every year. The next one after this week’s will be in March.

Many analysts and investors view traditional economic factors like inflation and interest rates as having an effect on bitcoin’s price.

Based on futures contract prices on the CME, the bond market predicts the first interest rate hike will take place at the March meeting. Until then, traders predict, the Fed will keep the fed funds rate — that is, the interest it charges banks to borrow from it — in a range between 0 and 25 basis points.

Dollar strength

According to a January report by Bank of America, Fed Chair Jerome Powell is also expected to acknowledge at a press conference on Wednesday that every meeting in the near future is “live,” meaning the U.S. central bank’s usual practice of carefully telegraphing the outcome of upcoming meetings might not apply – so rate increases might be less predictable. The last time the Fed raised interest rates was in 2018.

Higher interest rates on dollar-denominated assets will likely increase demand for the dollar and could result in a strengthening greenback in 2022. This could translate this year into higher demand for stablecoins, particularly dollar-pegged stablecoins.

“Stablecoins are a ‘medium’ between fiat currencies like the dollar and cryptocurrencies,” said Scott Bauer, a former Goldman Sachs trader who’s now CEO of Prosper Trading Academy. “Given that the Fed is likely raising interest rates multiple times this year, which should essentially provide tailwinds for the dollar, stablecoins which are tied to the dollar can also capture this upside.”

With the U.S. dollar (USD) still the world’s dominant reserve currency, assets denominated in greenbacks are in high demand. So stablecoins might provide a relatively easy way to gain exposure to USD.

“For the foreseeable future, there will always be demand for dollar assets, which include stablecoins,” said Jeff Dorman, chief investment officer at crypto investment manager Arca. “If the dollar strengthens against other currencies, it will make dollar-based stablecoins more attractive.” He added that the growth in stablecoins could continue regardless of the value of the dollar.

The cryptocurrency market is currently experiencing a tough run, with bitcoin (BTC) trading at around $36,303, down over 45% from its all-time-high, and ether (ETH) at $2,398. In contrast, stablecoin prices are designed to be pegged to a fiat currency on a 1:1 basis, including those pegged to the U.S. dollar.

“If global inflationary concerns persist and [stablecoins] become more globally ubiquitous, there’s no reason we wouldn’t see a continued march upwards for USD stablecoin market cap due to inflows from other nations with struggling currencies,” Sean Farrell, head of digital asset strategy at FundStrat, said. “Ironically, this would result in a more robust crypto ecosystem and increased USD dominance.”

Bitcoin is down about 23% for the year to date and its volatility is still a major concern among investors. Yet, Farrell doesn’t see this as a long-term situation.

“The USD is still losing value against many other asset classes,” said Farrell. “Thus, while some traders might seek near-term shelter in stables, the cause would be macro uncertainty, not so much a preference for the dollar over bitcoin.”



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ICON to begin work on interchain NFT game platform ‘SPERA’ with 2bytes » CryptoNinjas

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South Korean blockchain corporation ICONLOOP, announced today it has signed a strategic partnership with the ICON Foundation and 2bytes to establish ‘SPERA’, a blockchain-based interchain NFT game platform, and has released a teaser site showcasing the new platform.

‘SPERA’, which is planned to be fully set up within the year, is an interchain NFT game platform that connects NFTs issued on various blockchain networks and platforms, making them interoperable.

Currently, the vast majority of NFTs issued and distributed on various existing blockchain platforms do not have much use beyond ownership. Likewise, NFTs found in play-to-earn titles are currently limited in that they can only be used within the same game and platform.

The new platform will use the interchain BTP (Blockchain Transmission Protocol) technology to connect various NFTs from different blockchain ecosystems and make them operable by allowing them to be used within games on the SPERA platform, and plans to support P2E (Play-to-Earn) features as well.

BTP is a trademarked technology developed by the global interchain ICON project which connects various blockchains to make them interoperable. BTP technology differs from typically centralized cross-chain technologies in that its architecture is decentralized, providing high security and versatility.

Within the newly announced partnership, ICONLOOP will develop and support the establishment of the platform based on its technological expertise in previously developing and releasing various blockchain technologies. The ICON Foundation will support the establishment of an interoperable blockchain ecosystem by utilizing its BTP technology.

Meanwhile, game services startup 2bytes will set up the blockchain service and run the business side of the new platform. 2bytes currently provides localization, QA, and global consulting services to more than 40 game developers and has recently set up its own game development studio.

More details on SPERA can be found on the teaser site spera.world that is now live.



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When central banks seek public discussion, Jan. 17–24

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Last week, two central banks dropped public reports that can have a sizable impact on the crypto landscape in their respective countries and beyond. The U.S. Federal Reserve published a discussion paper entitled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” which summarizes years of the Fed’s research on CBDCs. Meanwhile, the Central Bank of Russia released a report that called for a blanket ban on domestic cryptocurrency operations and mining. Both documents are framed as an invitation for public discussion, but the kinds of discussions that they will trigger are likely to be very different.

Below is the concise version of the latest “Law Decoded” newsletter. For the full breakdown of policy developments over the last week, register for the full newsletter below.

The Fed: Not advancing particular policy

The authors of the Fed’s much-anticipated report make a point to note on several occasions that the paper “is not intended to advance any specific policy outcome.” Indeed, the report gives off a vibe of open-endedness and covers both risks and benefits of a potential U.S. CBDC. Specifically, it acknowledges user privacy concerns that some crypto advocates have previously voiced in the context of the potential digital dollar’s design.

On Twitter, crypto-friendly members of the U.S. Senate sounded content with the document’s findings and framing. Senator Cynthia Lummis welcomed the report’s concession that the ultimate fate of the U.S. CBDC project rests with Congress:

Senator Pat Toomey called the paper a constructive contribution to the public discussion around the issuance of a CBDC.

CBR: Ban domestic operations

In contrast to their U.S. counterparts, Russian central bankers are very much advocating for a particular policy. They’ve suggested that investor safety and financial stability risks that cryptocurrencies pose warrant a complete ban of domestic crypto operations and mining activity, as well as introducing punishments for individuals breaching these rules. Notably, the proposed ban specifically concerns the usage of domestic financial infrastructure for crypto transactions, and during a press conference that followed the report’s publication, a Central Bank of Russia official suggested that Russian citizens would still be allowed to engage with crypto using overseas rails.

The report is remarkable for making some candid points as to why the ban is needed. For one, the authors recognize that emerging economies, including Russia’s, are more susceptible to the adverse effects of crypto compared to those of developed nations. Furthermore, it states that wide adoption of crypto could undermine Russia’s monetary sovereignty and be at odds with a potential sovereign CBDC that the report passingly praises.

Crypto ads: Second phase of regulation?

In a series of moves that almost looked coordinated, regulators in the United Kingdom, Spain and Singapore took on cryptocurrency promotions and ads last week. While the first two mainly focused on ensuring appropriate risk disclosures, Singapore opted for a stricter stance of outlawing any and all crypto-related advertisements in public spaces. Binance CEO Changpeng Zhao questioned the capacity of these measures to limit crypto demand because of the prevalence of word-of-mouth marketing in the digital asset space.

Such a shift of focus could mark the next step in the evolution of crypto regulation. Jurisdictions that have put comprehensive AML and CFT rules in place are now turning to consumer protection measures as the rapid mainstreaming of digital assets gives rise to marketing strategies that target mass audiences far beyond the tech-savvy core of early crypto adopters.