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Bitcoin SV soared by 232% and BAT was the worst performing crypto-asset in May, claims report

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Source: Pixabay

The fork coin has always been a point of contention for many in the community since its split with Bitcoin Cash [BCH], another Bitcoin fork coin. Bitcoin SV, the brainchild of the self-proclaimed Bitcoin creator, pumped by over 80%, induced by the Fake Satoshi row on 30 May. The infamous fork coin was the biggest gainer, even after sustaining a flash crash soon after.

According to a Coinscious market report, a data and trading analytics website, Bitcoin SV [BSV] posted gains of 232% over a period of 30 days. The data was derived from a 30-day window from May 11, 2019, to June 9, 2019. BSV’s daily volatility for the said window was recorded at 12.54%.

BSV was followed by Monacoin [MONA] and Chainlink [LINK], with total returns of 160.57% and 67.83%, respectively.

Binance’s native token, BNB, also made it to the chart of the best performing assets, exhibiting total gains of 55.36% over the month with daily volatility of 4.16%. The report further revealed Basic Attention Token [BAT] was the worst performing digital asset, falling by 7.66% over the same period.

Market manipulation accusations regarding BSV’s triple-digit rise and the subsequent crash from $254 to $44 on the controversy-laden exchange Bitfinex last month is no secret. This highlighted the participation of malicious entities on the network “artificially pumping” BSV’s valuation. The pump was fueled by a piece of fake news that stated that Dr. Craig Wright transferred Bitcoins from a wallet that once belonged to Satoshi Nakamoto.

Source: TradingView





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Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report

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Ampleforth could help create next gen synthetic commodities for diversification of portfolios claims new Blockfyre report
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Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.

The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.

Synthetic Commodity

Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.

In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.

The report stated,

“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”

Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,

“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”

The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.





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