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DOT: Pontem Network Dev Activity Increasing FB DiemBy now if you've been reading my content you will know that PolkaDot and FaceBook Diem have some interoperability as Pontem Network is building a bridge b/w PolkaDot and FB Diem to allow interoperability between the two ventures. Diem will be a stablecoin that allows one to interact digitally with USD, Euros, Yen, GBP, etc and also a composite digital coin called DX that will weight each global currency in a basket. Diem has not announced yet what that basket will look like but it will probably mirror something pretty close to the IMF's SDR (Special Drawing Rights) which was actually originally defined as 0.888671 grams of fine gold. Pontem Network Github Activity At any rate, developer activity on Pontem is now picking up as registered by number of Github events. The number of events has really begun to tick up in 2022 which means we are likely to see FacebBook announce the launch of Diem soon (Q1 2022?). It was originally slated for year-end 2021 but considering FB is waiting for regulatory approval from the US Treasury which has already been green-lighted by Yellen verbally, we should hear some more chatter in the coming days/weeks from the Fed and Treasury regarding Diem's approval (which is going to happen, just a matter of when). The fact the github events are increasing in frequency though tells us that we are likely approaching that key date. At any rate, so far devs can already begin creating dApps for Diem using PolkaDot's substrate since Pontem is the network designed to use the same protocol language as Diem (Move). To see the dev activity, check out the chart in the below link. Pontem already is officially named as a PolkaDot auction contender on Parachains.info website: parachains.info Also, Pontem has been given a Web3 Foundation grant which means it is a serious project building on PolkaDot if it's given this sort of preference to help speed development. Lastly, the 16 investors backing Pontem are the best in the industry and unsurprisingly so considering how much impact Pontem will have connecting DOT and Diem - list below (see the list in the above link): Alameda Research NGC Ventures Kenetic Altonomy Animoca Brands AU21 Capital CMS Holdings Delphi Ventures GBV GIBC Mechanism Capital Momentum 6 Morningstar Ventures ROK Capital Spartan Taureon With that said, it's my opinion that DOT has bottomed using the modified pitchfork and is now on its way to new ATHs. I think we will see triple digits in DOT by Q2 2022. Fib timezones suggest end of February could be an integral date to watch - I think we hit a new ATH by end of Feb, heading into March as we begin hearing more about FB Diem and as more Parachains launch and the current parachains begin producingng more dApps like Acala and Moonbeam. Exciting times for DOT
KRAKEN:DOTUSDLong
by ich1baN
4
BTC Headed to $42-44k to touch Downtrend LineIt's clear that BTC is headed higher but how much higher? With the onset of all the signs on the wall that Powell will assuredly delay tapering bond purchases which were originally supposed to occur sometime in 1H 2022, the macro thematic picture couldn't get more bullish for BTC ... all the while the SP500 is headed to 4600 by year end and the inflation combo are helping to create major tailwinds for bitcoin. Additionally, I have an analysis on the bearish structure the DXY is in and how it's likely headed to the 2014 lows (Obama Era levels). I only view inflation as a temporary issue from supply chain constraints but the other element in the picture is the fiscal and monetary policy. The US congress is about to push through a major multi-trillion dollar Infrastructure bill. Additionally, the debt ceiling will be lifted at the same time, and J Powell is about to get a lot more dovish with China's stock market in the midst of a major retracement. Lastly, there is a LIVE bill (HR 4451) introduced by Congressman Emmer with bipartisan support from Soto and others which seeks to eliminate painpoints for crypot and blockchain technology from a regulatory perspective. The bill is called the Securities Clarity Act and it aims to stop calling crypto companies securities giving FULL clarity for investors and project devs to go full steam ahead. You can read more about that bill which will be voted on in the next weeks once it is released from committee: emmer.house.gov FaceBook Diem - FB will be making headlines about their major stablecoin project - Diem - any day as Yellen pounds the table to get regulations in place before this event happens. It is my view that FB and the US Government have been coordinating which is why Yellen changed her tone from slight negative to slight positive on crypto. They want to have some guardrails in place before FB releases Diem b/c overnight at least 340 million people in the US will have access to a US digital dollar stablecoin through a social app. This is massively bullish as it shows the Fed / Treasury / SEC / CFTC are all onboard with allowing crypto thrive for the time being. Elon Musk - Elon's B Word Conference appearance was more than just theatrics this time around. The guy confirmed he genuinely believes in crypto and put all haters to rest. He even shocked the world by announcing SpaceX owns BTC on its Balance Sheet - something no one expected. Additionally, Elon has much bigger plans for crypto imo likely involving SolarCity and decentralized mining with unused power from batteries. This is a longer-term vision but clearly Elon wants to be heavily involved in the space and wants to help develop decentralized money for the people. Amazon - although the rumors about Amazon were denied by the company, it's unlikely they aren't true considering Amazon confirmed the rumor partially by saying they are exploring cryptocurrencies and bringing the newest tech to their customers. This is confirmed by the job board posting which isn't for a dev or lower level position but a Blockchain Executive - someone who will be in the Exec Suite of AWS... this is very big news b/c this single person will be responsible for steering AMZN into crypto and it will happen - just a matter of when not if.... I'd say chances are good by year end still. Macro-thematic Reasons to be Bullish J Powell delaying tapering bond purchases SP500 headed to 4600 by year-end (supported by several Elliott Wave analyses) Further weakening of DXY by year end Inflation from Fiscal and dovish Monetary policy Major Deficit spending by Congress with the Infrastructure Bill US Congressmen sponsoring bipartisan bill to deem cryptos separate from securities so investors and developers have green light to innovate FaceBook Diem to be announced in coming days after the sudden switch of HQs from Switzerland back to the US - hint that FB's legal team has regulatory clarity in the US Elon Musk accepting BTC again for Tesla payments Elon having wider plans for crypto than anyone imagined since SpaceX owns BTC on its balance sheet too AMZN working on crypto payments All of this combined BTC should trend higher over next few days to $44k and I expect there to be at least some resistance there and then we will retrace for another chance to buy in before a wave higher.
BITSTAMP:BTCUSDLong
by ich1baN
3
BREAKING: Facebook Diem will Use DOT Blockchain- EoY PT $1000 DOT's fundamentals couldn't be clearer. This is the buy of a century as DOT continues to release bullish news item after bullish news item. Recently, a 2nd DOT ETP was launched which is backed by actual DOT - similar to how Grayscale buys BTC and ETH to back their ETP products. The most recent bullish news item is the recently announced VC Fund, Master Ventures, announcing a $30 Million injection into the PolkaDot ecosystem as they believe DOT will be the superior crypto-asset and represents a new era of blockchain technology. Here's a quote from them: "Founder & CEO at Master Ventures, Kyle Chase, notes about his Polkadot VC Fund, “In our current portfolio of incubated projects led by the PAID Network, we’ve also committed significant research & development resources to build on Polkadot. As such, we’ve gained amazing proprietary knowledge and insight into the current progress and future evolution of both projects and we believe Polkadot will be one of the clear long-term winning blockchains and ecosystems due to its cross-chain functionality, ease of development & deployment as well as the strength of its development community.” Additionally, news has come out that a PolkaDot based, Pontem, has raised $4.5m to build FaceBook Diem using the PolkaDot based substrate!!!!!! About Pontem "The Pontem Network is described as a Polkadot Substrate-based chain, which means it can serve as a testnet for Facebook’s Diem blockchain. By utilizing a Polkadot parachain, Pontem can introduce developers to Diem’s potential, allowing them to validate their ideas before submitting them to the Diem Association." beincrypto.com FaceBook Diem is nearing its release and the entire world is asleep on how big of an impact Diem will be on the entire crypto market - this will represent a monumental shift change in perception, understanding, regulatory clarity, and a renewed spirit of the bull run. We know the launch of Diem will be soon as Diem has recently relocated from Switzerland back to the United States - meaning their legal team has clarity from US regulators on the future of Diem.... the die has been cast - prepare for a new phase of crypto and consider yourself lucky if you have DOT.... Conclusion Buying DOT here will be the buy of the century when more news on DOT developing Diem breaks... right now no one is paying attention and Mr. Market is asleep on the fundamentals of DOT. Many will call me crazy here about DOT's upside PT but remember Diem represents a global paradigm shift and using DOT is important as a Power Law distribution will be in effect and I can envision a future where nearly all smart contracts are using the DOT ecosystem in some way. Ignore the haters - this has immense upside I don't think it's out of the realm of possibilities to see a $1000 by end of cycle. Just my opinion, NFA! DYOR!
KRAKEN:DOTUSDLong
by ich1baN
8