Steemit Crypto Academy Semana 5 | Mercado de Criptomonedas. [Leer Regla Actualizada]

Explain in your own words, the concept of Dominance in the world of cryptocurrencies. What is the dominance of Bitcoin at the time of performing your task? (Present at least 1 graph)

Dominance is actually being in a position of power, authority over others.

Dominance in the world of cryptocurrencies is the level of power a currency has in the market or perhaps the value of cryptocurrency in the world.

Just as we are being taught in our class that Bitcoin has 100% dominance as at the year it came to existence in 2009 because there were actually no other currencies fighting it in the market. That is to say that whenever new coin is being created, it causes a decline in the power of Bitcoin due to its purchasing power.

Bitcoin is the world’s most well-known cryptocurrency; however, as at May 12, 2021 it worth was about $56, 573.56. Most scholars in the digital currency believed that Bitcoin will run out by 2040 despite their powerful mining equipment. As we are being taught that it is its behavior that determines the behavior of the market at large, that is to say it is still the leading currency in the digital currency today.

Mention at least 2 times where the market had strong falls, mention several affected currencies. (Use screenshots)

In recent times especially from last week till now the crypto market has witnessed a major drop ranging from Bitcoin to other coins like Dodge Biniance etc here is how the market looks like for today being the 15/5/2022

From the chart abive we can see that there is a real pit fall in prices as the prices of most coin has fallen drastically. Coins affected by the fall in the market are Bitcoin,ethereum, biniance, Dodge etc

What is the Altcoin Season?

Altcoin is simply any other cryptocurrency that is not Bitcoin
Its season is when investment into cryptocurrency flows more heavily into Altcoin than Bitcoin. Altcoin season simply means that when other existing coins begin to grow and dominate the market than Bitcoin and this season is more beneficial to investors who have invested in it.

From our lessons in our class, Altcoins as they become established are less and less dependent on Bitcoin. It does not rise in the same proportion as the price of Bitcoin. It can also be seen in different categories which include the stablecoins, DeFi tokens, exchange tokens, oracle and more which serves as a wide variety of facilities and services. What makes it more valuable is the utility it offers and how much it can pump.
Altcoin season is not something that’s announced at certain time or date, most people (investors) forecast to it but nobody knows for sure when it’s shows, nor when it will end. However there are some indicators that help identify whether or not we have officially entered into the season. The Bitcoin dominance might be likely be showing a bearish trend (falling) which indicates that Bitcoin would be losing its power within the cryptocurrency market. Therefore Atcoins would be taking on more weight of the market dominance.

Give a brief description of at least 2 Altcoins that are in the TOP 50.

Basic Attention Token [BAT]: Basic Attention token is a digital advertising token which is built on the Ethereum blockchain. The purpose of the BAT token is to create an ad exchange marketplace which will connect the advertisers, publishers, and users in a decentralized manner.

The purpose of BAT is to monetize user attention and remove all the other ad networks.
It Serves as a unit of exchange by cutting out the middlemen,
It Rewards users, publishers, and advertisers.
Users get paid for giving attention to ads.
Publishers get a portion of the ad revenue.
Advertisers get better ROI for their content.

The BAT team created the Brave Browser, an in-house native browser which is integrated with the Bat system. BAT tokens are the native currency that will be used by the system.

Chainlink [LINK]: Chainlink figured out how to get information in and out of a blockchain in a way that is secure, trustworthy, and decentralized.
Chainlink created a network of nodes to provide information to and from the blockchain and as a result created a vital piece of smart-contract-infrastructure.

This “blockchain middleware” meant Chainlink oracles could provide essential information such as price feeds, event results, and links to traditional payment systems without sacrificing on decentralization or security.

Chainlink creates value in the Blockchain world with his Oracles.
Where the blockchain meets the outside world has been a huge vulnerability in decentralized applications (dapps) until Chainlink created a secure bridge. The points where data comes into the blockchain are also the points where data can be manipulated or compromised.

How can relevant news influence the price of cryptocurrencies in a positive or negative way? Name at least 3 examples. (Use screenshots) (Example: SENSO announced a 70% token burn, in a week the price increased more than 100%)

Most times Bitcoin's rise is the growing inflation of the U.S. dollar. While inflation is on average 2% each year, recent stimulus spending is poised to greatly increase the level of inflation and decrease the dollar's purchasing power. With the recent stimulus packages, the United States has added around $2.4 trillion to the economy. This has many worrying about the inevitable decrease in the dollar's purchasing power and the rise in inflation.

To hedge against this rising inflation, many have retreated from the dollar and have taken shelter in assets that historically have held value or have even appreciated in value. Typically, assets that people convert their dollars into to avoid inflation or volatile markets are ones that are scarce or are less volatile in general. These 'safe-haven ' assets include things like precious metals, stocks in sectors that are generally less volatile, and more recently, Bitcoin.

Adoption as a Means of Payment: Another reason for Bitcoin's price appreciation is its growing adoption as a payment method. Recently, PayPal ( PYPL ) announced that it would soon allow its users and merchants to buy, sell, hold, and accept Bitcoin and other cryptocurrencies as a form of payment. This news pushed Bitcoin's price higher immediately. PayPal has nearly 350 million users who will now have the ability to easily buy, store, and use Bitcoin. PayPal also has well over 20 million active merchants who can now accept the currency.

The news on Coronavirus (COVID-19):The COVID-19 pandemic has impacted financial markets all over the world, including that of cryptocurrencies. In an exclusive interview with ETBFSI, Sankalp Shangari, renowned Angel investor who works closely with FinTech firms, shares his view on how the narrative on Bitcoin will slowly change post this pandemic.

Describe one of the following Penny cryptocurrencies:
Shiba Inu, Safeemon, or Eclipse

WHAT IS ECLIPSE (ECP)?
Eclipse is a utility token built on the Binance Smart Chain. The token will be used for purchasing features on Eclispe built platforms, first to be announced; Eclipse Charts, a charting platform for BSC tokens.

The Eclipse token will be used for:
Payment for additional features for Eclipse platform
Advertisement/boosting on Eclipse platforms
Spending of Eclipse tokens will result in rewarding for Eclipse tokens holder.
Eclipse has built in features to reward holders

Where every transaction is taxed with 6% fee, and 3% are redistrubuted to all tokens holders at the time, the other 3% is split into half again with 50% sold by the contract into BNB, and the remaining 50% automatically paired with the aforementioned BNB and added to PancakeSwap as a liquidity pair.

How is Eclipse safe? The developer holds 1% freely, while 4% is locked up for 3-6 months through dxsale token lock. The rest of the tokens that where not sold through dxsale are where burned. The liquidity pool is locked for 5 years. The largest holder has ~1.5%.

Where can you buy Eclipse? As of April 2021, you can purchase Eclipse on PancakeSwap, but currently, ECP is being ranked 2522 on Coinmarketcap and has recently surged a hefty 78.10%. ECP has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, you can still easily buy this coin by first buying Bitcoin from any large exchanges and then transfer to the exchange that offers to trade this coin.

Thanks prof@imagen for this lecture i really appreciate