So for today's news we're going to cover this cro yield updates. There'S been a lot of controversy around this, a lot of bad press, if we're being perfectly honest for crypto.com we're, going to talk about what people are saying about this on the crypto reddit, maybe it's, not so bad some proposals for how they can do it differently. Potentially, of course, we'll take a quick look at the cro price, which unfortunately has been going down over the past few days. Probably in reaction to this news. Next we'll have a look at cardano. Some recent cardano news, they're of course, going to launch the road map for goguen, take a brief look at how cardano are trying to become decentralized, which i personally think is awesome and then we'll also take a quick look at the cardano price. Finally, we'll finish off with some polka dot news about bit hum launching a polka dot power chain and, of course, touch up on polka dots, new event here to teach the world basically how to use polka dot and why it's valuable, so today's segment is designed to Cover not the most recent news necessarily but the news from the last week from some of the larger cap altcoins, we usually spend a lot of time covering low to medium caps, but i figured we might do one or two videos a week covering these large caps. Let me know what you think, if you'd like to hear more about ripple, cardano, polkadot, binance and all the top coins, as opposed to you, know all the medium and low caps.
I personally like to have an even mix between both if you enjoy this content and want to see more of it, don't forget to subscribe like and hit that notification button, as it really helps to support the channel before i get started. I just want to let you know that i am not a financial advisor and that trading and investing presents financial risks so starting off with the cro yield overview and updates. This blog here by blog.crypto.com states that the cro yield rates have been updated, so they haven't said what the old rates are. I know that the card and exchange six month stake rate, which is currently at six percent, used to be at twenty percent. I think in communications like this, it helps to be transparent and to present the information in a way which is easily accessible. So you know for someone who hasn't been staking or hasn't been earning interest, uh or who's, just an investor of cro. They basically have to sort of dig in to see how these percentages have changed compared to the past, but in any case, these are the updated rates it's worthy to note that this six month, staking rate is actually very similar to what silica are offering silica staking Platform live this article on altquinbus.io by dpk guard. She just mentions here that, as per the official announcement, the apy through zill staking will be around six percent, assuming that eighty percent of the circulating supply is staked, so you know guys getting anything more than six percent.
Is pretty much unheard of in the traditional finance world? So you know the fact that it was 20 in the past. You know it was clear that it wasn't going to stay that way. It was unsustainable, but the fact of the matter is that six percent is still a very solid rate and that crypto.com, of course offers a whole range of services which offer a lot of value to a lot of people. So on the crypto, reddit and even on twitter, i'm, afraid there's a lot of bad press for crypto.com, but here we have one article, maybe it's, not so bad. So this user s a x e t 1966, can i live with a six percent yield for my stake. Yes, because show me a bank that pays more than one percent interest on deposit, so that's a fair enough point: six percent is a great yield compared to a lot of alternatives. I think cro ought to have it higher, but i can live with six percent and it's worthy to note here. What he points out is that crocdcrypto.com are still honoring the terms for the staking and the fixed term crypto earn these new rates only apply to when those terms end. So if you've been staking and you're staking for six months, you're still going to get 20 until that staking period end and finally, he points out again some of the advantages of crypto.com. As long as i get my five percent reward on debit card usage, that is still a nice perk, along with the reimbursed netflix spotify and amazon prime, so it's worthy to note that these staking rates.
These were not the only reason that people are on crypto.com. There are a whole range of services and benefits which are provided when you sign up with a crypto.com card. Now, of course, if you do want to sign up for crypto.com, we offer 25 for free on the house. Just when you sign up using our link down in the comment section below, because full disclosure crypto.com are one of our partners and here in the most upvoted post on thecrypto.com, reddit, cdc you're, doing it again so pay attention to us again. So there's a lot of anger and you know some questionable statements in the first part of this post, but basically, what he's suggesting is that, instead of six percent, that they do it twelve percent and that the cro earn rates instead of being what they suggested here. Four two and one percent he's suggesting that it'd be six three point. Five and two percent so we'll see how crypto.com reacts to this. Of course, don't forget crypto.com is a centralized company. They can choose to do what they want. This is the nature of a centralized company, so crypto.com cro has actually fallen six point four percent in the last 24 hours and this does actually mark the biggest loss over the last 24 hours in the top. Well, the top 17 coins really so something worthy. To note that it could very well be because of the slashing of these stake rates. People are maybe not quite so happy about that, in contrast, nexo one of the competitors, of course, has gone up by three percent.
This could just be a coincidence. Celsius, of course, has been absolutely exploding. Also, a competitor of sorts is up just 0.1 over the last 24 hours, but of course, it's had an absolute epic run. This is nowhere near sustainable, but in any case don't forget that celsius, network and nexo. They offer loans and interest. But you know crypto.com. They offer a whole range more with the crypto card and the cashback and the access to all those services for free, like netflix and spotify, etc. So yeah crypto.com, they surpassed 5 million users. It went from 1 million to 5 million this year, it's very impressive it's. Just unfortunate that there are so many negative comments in the comments section here talking about the slashing of rates, despite this incredible impressive growth for crypto.com. Now, in terms of the price for crousdt here on the okay x, crypto exchange, you can see that this has been just an absolute epic run. I mean crypto.com ever since march 2020 has seen a pretty much a 710 move up, and the correction has only from the top has only been 28. I can tell you, i look at charts all day, there's very few. I don't think there's any actually large cap altcoins, which haven't corrected more than 28 from the top, so from a technical analysis perspective and from a cryptocurrency market perspective. I wouldn't be surprised if we see at least another small correction, if not a medium size correction.
This. These kinds of moves are not sustainable and it's, very common to see a complex pullback or, in other words, a low, a lower high and then a lower low. Before making another move up. Next, we move on to cardano. I o hk signs contract with runtime verification and the roadmap for goguen to be released end of october, so the roadmap for cardano's goguen will be released on october 29th. According to crypto dash news dash flash.com. Now they have a very attractive, sophisticated looking road map. Of course, shelley was all the rage and we saw an incredible price increase leading up to shelley. They had incredible marketing strategy, which i think helped tremendously with getting people on board, getting people to learn what cardano was about and now, of course, gogo and the road map will be released on october 29th. It doesn't mean that goku in itself will be released, but it'll be interesting to see when they expect certain events to happen and, of course, when the whole thing will be finalized launching smart contracts. This has been likened to ethereum 2.0 solution, it's, not going to happen in a short period of time. This could easily take months. I don't know if it will take more than a year or not, but in any case it's very interesting to see what the actual road map will be in an ama. Charles hoskinson himself emphasized the new focus on better marketing and i personally think their marketing was already great up until now, but he says he is in daily contact with the newly appointed head of marketing.
They are going to be changing their marketing moving forward with it, with an emphasis on enterprise solutions and smart contracts. So that being said, the biggest news of the day is that iohk has signed the contract with runtime verification incorporated. So, according to hoskinson, he says it's a seven figure contract and i will make a dedicated announcement at a later time about specific deliverables and what we are going to get out of that. But i figured i'd just share with you guys. The really good news so together with runtime verification, they're, going to develop, yellow and yellow, is a virtual machine, also called yellow that will make ethereum's virtual machine vm. Look like a toy, so it's always amusing to see these competitors talking about each other i'm, not a developer myself. So obviously i can't comment on the veracity of this statement, but in any case, the idea behind the vm is that developers can write dapps in one of the popular programming languages and then convert them using yellow so that they can be executed. So when you're using very complex languages like ethereum solidity, it of course does prevent a lot of developers who are not familiar with those languages from being able to use it. So this, essentially, is what it is trying to solve. It is also supposed to support ethereum solidity programming, language, making porting dapps from ethereum to cardano extremely easy. We talked about how it's important to port dapps from ethereum to polkadot, how they're working on that.
So obviously, cardano are also going down this road, and that makes a lot of sense because, according to our article here, altcoinbuzz.io according to dap radar, the ethereum blockchain, currently houses about 96 of the whole defy ecosystem transactions and, of course, most dapps easily. By a long shot are on ethereum and when talking about ethereum and cardano, we had this interview. It'S actually been one of the interviews which got the most views. Obviously cardano has a very strong community here with leia heilburn and charles hoskinson, and he talks about how cardinal differs from bitcoin and ethereum. What his thoughts are on: ethereum 2.0 about onboarding, more use cases and dapps and defy and stable coins on cardano. So lots of interesting stuff feel free to check out this interview, which we did with charles himself now. Finally, cardano foundation reveals strategy for a self sustaining community. The cardano foundation has outlined a strategy for creating a decentralized self sustaining community. I personally like this direction. One of the reasons i got into crypto is for this decentralized revolution for the power to be more evenly distributed among the people who actually use the platform as opposed to people at the very top who can make a decision at any moment's notice. So they say here: the cardano foundation's mission is to bring together all parts of the community, ada owners developers, businesses, public institutions and stake pool operators to create a bustling ecosystem, with multiple opportunities for innovation and incubation of ideas where every ecosystem participant feels empowered to work Together to achieve common goals, so it all sounds really great in theory, but the fact of the matter is decentralization is very hard.
There are, of course, compromises to be made, but nonetheless i think this is a great step forward and, if you're into decentralization, then there's good reason to be interested in cardano now remember we talked about how cro had made about a 700 move from its lows. Well, ada usdt cardano made a 746 price surge in that time as well. They had incredible price movements there. We were talking about cardano a lot at that time and since then, remember cro corrected about 28 cardinal corrected a more reasonable 51 after such an explosive move. So you know time will tell if this will be the support and actually be the all time bottom, but in any case, cardano has had a decent run over the past few days, with almost another 50 move up guys, these cryptocurrencies are very volatile. Take care if you're trading and don't forget to have a stop loss all right now. If this were to be the bottom, this would be a good and logical area. This has been a point of contention in the past. We'Ve seen highs over here, we've. Seen generally a sort of high volume area over here, marked by this yellow and blue bar this high liquidity zone. So it was somewhat expected that we would see a bounce somewhere within this range, which we did now time will tell if this will hold, but it certainly is a decent possibility that this will hold and that this big move will turn into another even larger move.
Next, on the list of crypto news today is bittorrent aka btt, according to justin sun here at justin, suntron bittorrent is arguably the most disruptive tech in the brief history of data itself and changed the internet since its start it's fitting that for so long the face Of peer to peer technology, btt has been unapologetically peerless, so he goes on this thread to talk about how bittorrent compares to bitcoin how it actually inspired. The idea behind bitcoin and even companies like uber, were inspired by this decentralized technology and the way that they're connecting everyone making everything cheaper and more efficient for everyone involved and ihuddle.com here, i've also written an article about this just recently. Yesterday, btfs is poised to disrupt the cloud storage industry. So apparently the cloud storage industry was valued at 46.1 billion dollars in 2019 and is projected to grow by 21.9 a year until 2027. But now the btfs, the bittorrent file system, could provide a superior solution at a much lower cost. So they go on to explain what the bittorrent file system is. Its core structure is a variant of the open source, interplanetary file system. Ipfs protocol feel free to read through this. If you like here, of course, they talk about why btfs is poised to displace cloud storage, of course, quoting justin sun talking about the similar concepts. And finally, they talk about how tron is actually using btfs saying how tron is already using it to optimize its operations and how nodes, which normally would otherwise have taken days or weeks to sync now can be done within just a few hours, essentially making it much More efficient and faster to sync, furthermore, d live a popular blockchain based content.
Sharing platform is currently using btfs as its data storage solution and within the period of just a few months since btfs has launched its mainnet. It has around 300 000 active monthly users, including 20 000 storage hosts, so some very impressive numbers there. This could be the beginning of a very, very big thing, based on the explosive growth they've had so far bittorrent currently trading at 0.0003. It ranks in 62nd place with a market cap of 220 million dollars. Now this article by crypto, daily dot, co dot uk is asking how btfs measures up to the other file storage solutions. So, of course they talk about it versus the centralized options. I think centralized options are so backward we're not even going to go into why they're better than them, but of course they are up against file coins, so filecoin uses a similar technology to btfs known as the interplanetary file system. However, though, filecoin has been touted as a major competitor to btfs, it has repeatedly failed to deliver on its development milestones mostly due to unforeseen technical challenges. They say here that btfs, on the other hand, has a main net alive and well and running, and unlike the file coin, test net, which is clunky and challenging to use btfs, was designed with an extremely intuitive user interface, making it easy for users to start renting. Storage or begin earning btt tokens by becoming a host. So, although they currently have 300 000 monthly active users, they could potentially tap close to 200 million file hosts and users and could be used as the base storage solution for thousands of trond apps and associated content platforms like dlive, of course, so very exciting stuff.
Here. Definitely something to look out for i'm personally, very interested in file storage. Right now i got a new laptop, so i don't need actually any new storage, but of course i could rent this storage out potentially looks pretty interesting to me. Next, we move on to polka dot so bit harm set to launch d5 platform as polka dot parachain. This one won't just be another instance of c5d5. The exchange reassures. So i actually made two videos on polkadot this past week. What is the polkadot coin? Polkadot versus ethereum and polkadot why you must have it, i personally think it's a must have in the portfolio. You can feel free to watch those videos to see what my reasoning is, but basically yeah there's a lot of projects working on polkadot. This interoperability is a massive thing to solve, and i read recently that apparently 72 projects are looking to launch on polkadot and, of course, it's probably going to happen sometime in q1, q2 of 2020.. This project will be called clover. A blockchain platform targeted for decentralized finance and powered by the polkadot technology. Clover will be an open platform for d5 applications, leveraging cross chain capabilities and connecting decentralized finance to centralized exchanges. So the fact of the matter is that, in order to get into defy, you do have to get cryptocurrency through a fiat gateway, and obviously that is what the centralized exchanges are for. So it's only natural to see a connection between these and to hopefully have them work and integrate together to help each other and it's noted here that the platform is part of an overarching trend of centralized exchanges launching their own blockchains for defy according to cointelegraph.
com, with Finance ceo chiang, bang zhao coining the term cd5 to describe these efforts. I remember when these exchanges were talking about how they were launching a d5 platform. They were using d5 services and i was like that. Doesn'T make any sense. Your centralized exchange, but yeah this cd5. Definitely does seem to accommodate for this discrepancy, so hats off to chang, bang zhao for coining that term. So chris lee, who is the clover ceo and formerly the chief marketing officer at bit home global? He said that bit hum will not have that much influence as binance on his chains, since the company wishes to attract outside partners, including other exchanges, so it's quite interesting. How they're not just using clover, to connect to their centralized exchange, but really trying to connect defy to c5 in general, which i think is going to be. You know a necessary step, whether we like it or not. So, according to lee, the company believes the next stage for defy is transferring assets and value across different platforms and that the company expects to boost its own ecosystem and acquire new types of users. Now, one thing which i was talking about in my video about polka dot is, of course, when the power chains will be able to launch, and here there is some indication of when that might be clover will launch as a power chain, meaning that the date of Release depends heavily on polka dot, enabling power chain slot auctions.
This is, of course, going to be the next major event for polkadot, but we expect to integrate into the polkadot network in q1 2021.. So i imagine they've had communication with the developers in polkadot and for some reason they believe that it could happen in q1 of 2021.. Now, of course, the next big news for polkadot is this sub zero event, where gavin wood himself will be speaking as well as the representatives of parity technologies and according to cointelegraph.com, there will be a speech to reveal how device potential can be unlocked on polkadot, which Of course is very important since right now, it's, mostly on ethereum, if they want to, of course, compete with ethereum. So this article is about equilibrium who want to open up the vast potential of the defy industry. But, interestingly enough equilibrium was known as an eos based d5 project, but now they have plans to develop a new interoperable platform on the polkadot blockchain and of course he also praised the higher degree of decentralization on this network compared with some alternatives. So, of course, eos is known for being quite centralized and maybe that's why he's sort of interested in getting into polkadot instead now in terms of the dot price, i brought up this descending triangle before and actually the price was about 3.8 there. I also mentioned how we have a higher low on the histogram and why that meant that we might actually see another move up.
But furthermore, i said that it was unlikely that this would turn into a bullish move and that we really can't be bullish until we cross this red line. Well, if we're being accurate, it has to be this sort of 4.62 dollar level, as you can see, we've resisted from that multiple times, and this is following a downward trend on the daily chart of polka dots. So really not the greatest sign. It doesn't mean that we're necessarily gon na tank hard from here and calm down and see new lows, but certainly until we cross this 4.6 level. I probably wouldn't recommend buying, certainly not within this trading range, possibly if we come and see some new lows here. If we see some extremes in the rsi, it might present a good buying opportunity all right guys, that's been it from me for today. Let me know what you think of this format, where we talk about the larger cap altcoins, where we talk about the big news of the past week, as opposed to you, know, sort of the most recent news of the past day or two. I personally think that you know the larger cap altcoins are going to gain in value over the low and medium cap, altcoins that's again, one of the reasons why i want to start focusing on them and in general i imagine a lot of you probably have bitcoin Cash binance chain link polka dot cardano, compared to maybe some of the lower cap coins anyway, guys that's been it from me for today, don't forget to like subscribe and comment.