Weekly Crypto Market Review (14.02.21)

Positive News in the Crypto Market:

  • MasterCard will bring crypto into its network!

In a news announcement by MasterCard this week that they will be incorporating cryptocurrencies on their network. Stating that digital assets are becoming a more important part of how we make payments.  This is a strategic play by Mastercard, they have now watched the demand rise, and they will get in on it! Why? Because they can easily capitalise on it by allowing people to PAY with cryptocurrency. Watch out what types of cryptocurrencies are allowed on MasterCard’s network, they will be selective, and I can imagine they will have a strict criteria to meet. This is only the introduction; it will be quite some time until we see the deliverable I would imagine.

  • Bitpay card users now can use Apple Pay!

BitPay card users can now connect their wallet to their Apple Wallet and purchase goods and services via Apple Pay!

  • Amazon is kicking off a  Digital Currency Project in Mexico!

Amazon is preparing to launch a digital currency project in Mexico and has commenced hiring developers to support it. This will allow users to convert their cash for cryptocurrency and enjoy online services such as paying for items or services such as Amazon Prime Video.

  • Uber CEO open to accepting cryptocurrency for payments

Uber CEO stated they are considering using cryptocurrency as a payment form because he also believes, it’s good for business, for our riders and eaters.

  • Bank of New York Mellon Corp (BNY Mellon) to hold & transfer cryptocurrency

One of the oldest banks (BNY Mellon) has just reported they will hold and transfer BTC and other cryptocurrencies later in 2021.

  • The group of seven (G7) kicked off discussions on CBDC’s

The G7, known as the Group of Seven, is an organisation made up of the seven largest advanced economies. The G7 kicked off on the 12th of February, a discussion relating to central bank digital currencies (CBDC)’s not to mention additional discussion points around implementing digital taxation and emerging debt problems.

  • PayPal – the future digital wallet for CBDC’s!

On that note, Paypal is gearing up to be the central bank digital currencies CBDC’s digital wallet. This news shouldn’t come as a shock to you, considering how much PayPal has really opened up the world to cryptocurrency lately!

Concluding Thoughts:

Okay, so it’s quite evident Elon Musk allowing Tesla to be used for payments and the bull market hype of cryptocurrencies has triggered a ripple effect, and we kind of knew that would be the case. This is what we have been waiting for, and institutions are at the point where they either get on the train first or potentially miss it.

Upcoming Events in Crypto

  • Cosmos (ATOM) Stargate Upgrade – 18th of February

In the past 30 days, ATOM has increased by 264%. After being postponed from its initial launch of Jan 28th, Cosmos’s Stargate Upgrade is almost finally here with the launch occurring 18th of Feb. According to Cosmos, this upgrade will be the biggest event they have launched since the launch of Cosmos Hub! For the first time ever, Cosmos blockchains will be able to connect with each other using the first standardized protocol for inter-blockchain communication (IBC).

You can find further information on COSMOS’s Stargate Upgrade: HERE

  • Swipe (SXP) Ignition – by the end of February & V2 Wallet App April

The next Swipe Ignition Sale, which will be in February, will be a mix of: 

    • Airdrop to $SXP holders
    • Lottery style with $SXP,
    • Public sale with $SXP.

Something to keep in mind is, their first swipe ignition did have successes as well as issues relating to a pre-sale participant (known as ‘Buyer’) with the launched Cannon (CAN) token on Venus Protocol (only just January 2021). However, according to Swipe’s medium, all users who were negatively impacted by this were compensated and with new rules in place moving forward including : 

Upcoming with Swipe – April 2021?

SXP will also be launching its V2 Wallet App late April 2021 along with a Defi Swipe Card. 

  • COTI – Staking 3.0 and Debit Cards & Bank Accounts – February and beyond

With COTI’s staking 2.0 program at just 1-year-old, COTI had plans to roll out the staking 3.0 program. There are five tiers to COTI’s staking structure and the application for march staking cycle is open until 20th of February at 23:59 UTC.The staking program offers greater staking capacity – more people able to stake with MORE COTI able to be staked by a user. However, with this upgrade, also comes an extension of the lockup period from 90days to 120days. If you love COTI, this shouldn’t be an issue. 

Along with the staking program, COTI Pay’s Debit Cards & Bank accounts are to be rolled out this first half of 2021, which are issued with Visa and Simplex. This will allow users to store fiat in their wallet and pay any merchant that accepts Visa. 

Coti has since more than doubled in the past two weeks; however, according to CoinGecko, it is still shy of its all-time high of 22c.

  • Theta Mainnet Launch – April 2021 (#BULLISH)

Theta has ALOT of news coming up for 2021, two specific items that I find significant for Q1 and Q2 are the Decentralised Exchange release (launched early February) on Theta’s blockchain and Theta Mainnet 3.0 release in April. To ensure this gets the appreciation it deserves, I will do a separate video on THETA in the coming days. Don’t miss it!

Upcoming Launches:

  • DAOVentures ($DVG)- launches IDO on Polkastarter – 15th February

DAOVentures is your personal robo-advisor and automated money manager. With the IDO launch happening on the 15th of February on Polkastarter, the Uniswap listing will follow soon after the IDO. The token sale price is $0.225/DVG according to DAOVentures Medium.

Upcoming with ADAPT Crypto:

What we have done:

We continued with our Weekly Live-stream Altcoin TA with our very own, Tradesharpe. The team had lots of fun with their new filters (see image below!), Don’t forget to catch us EVERY Sunday at 7 pm Sydney, Australia time (Psst.. check out the calendar on our website to keep up to date!). 

Our DAILY Live-stream news event with MarshMcdan and Gooding is slowly building more and more momentum. Come connect with the team daily and get your quick view on all the news circulating!

One of our team members has also just published a blog post on ‘The 5 Best Crypto Passive Income Sites: Nexo, YouHodler, Celsius, BlockFi, Crypto.com‘.

What is coming up:

This week we plan to provide our community with two GEM ALERT reviews of THETA Network and DAOVentures ($DVG). While $THETA has been around for some time and is not a ‘new launched gem’, it definitely is a gem in our books and we hope to show you why!

For a quick wrap up of the week ending 14th February 2021, check out our video below: