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League of Kingdoms on Binance Launchpad – How to Invest in LOKA IEO?

League of Kingdoms (LOKA) is the latest blockchain project to be featured on Binance Launchpad, a platform that lets Binance users participate in an initial exchange offering (IEO) of new tokens with their Binance Coins (BNB). A total of 25 million LOKA tokens, at an initial public sale price of 0.16 USD, will be distributed to Binance users.

League of Kingdoms is a blockchain-powered MMO war strategy game that combines real-time strategy (RTS) elements with tokenized in-game resources and play-to-earn (P2E) mechanics. The game’s native LOKA token is designed to give players the opportunity to participate in on-chain governance as well as to incentivize player retention and greater adoption. League of Kingdomes will reward users for their progress with LOKA and occasional rare non-fungible tokens (NFTs) drops. To learn more about League of Kingdoms, check out Binance’s in-depth research report.

Here’s the timetable for the League of Kingdoms IEO:

	Start	End
Preparation Period	January 12 (00:00 AM UTC)	January 20 (00:00 AM UTC)
Subscription Period	January 20 (06:00 AM UTC)	January 20 (09:00 AM UTC)
Calculation Period	January 20 (09:00 AM UTC)	January 20 (10:00 AM UTC)
Final Token Distribution	January 20 (10:00 AM UTC)	/

How to invest in the League of Kingdoms (LOKA) IEO on Binance Launchpad?

Follow our step-by-step guide to learn how to participate in the League of Kingdoms sale on Binance Launchpad. Keep in mind that in order to participate in the IEO, you will have to hold some BNB in your verified Binance account.

1. Create an account on Binance and complete KYC

In order to participate in the LOKA IEO, you need to create an account on Binance. You can skip this step if you are already a registered Binance user.

Create Binance Account

Once you’ve completed the account registration process and supplied the required KYC information, you can proceed to the Launchpad section, which can be found by navigating to the “Earn” drop-down menu. Here you can find ongoing and past Launchpool and Launchpad projects.

2. Select the League of Kingdoms IEO

Locate the League of Kingdoms IEO from the list of ongoing and finished Launchpad and Launchpool projects.

3. League of Kingdoms IEO requirements and token distribution

Binance allows users to participate in public sales by committing an amount of BNB that will be used to buy new tokens as soon as they are available on the exchange. The amount of BNB a user commits dictates the number of tokens they will receive – the more BNB you commit in proportion to other users, the higher the new token allocation. Keep in mind that the minimum single initial investment can’t be smaller than 0.1 BNB.

In order to ensure that the majority of Binance users have a fair chance at obtaining new tokens, a max cap of token allocation is set per user – this means no user can acquire more than 15,000 USD worth of LOKA in the IEO.

Participation in the League of Kingdoms IEO is restricted to residents of the following countries: Belarus, People’s Republic of China, Democratic Republic of Congo, Cuba, Iraq, Iran, North Korea, South Sudan, Sudan, Syria, United States of America and its territories (American Samoa, Guam, the Northern Mariana Islands, Puerto Rico, and the U.S. Virgin Islands), Zimbabwe.

4. League of Kingdoms IEO timeline

The League of Kingdoms IEO will follow a similar timetable as other Launchpad projects that came before it.

Disclaimer: The committed amount of BNB will be locked for the duration of the sale, meaning transfers, withdrawals or other trading functions will be unavailable until the final phase of the sale.

Here’s the full breakdown of the LOKA public sale on Binance Launchpad, as explained by Binance:

January 12 (00:00 AM UTC) to January 20 (00:00 AM UTC) – Preparation Period: During this period, user BNB balances will be calculated in hourly snapshots for each day over an 8-day period. Your final average daily BNB balance over these 8 days will determine the maximum amount of BNB that you can commit later on.

January 20 (06:00 AM UTC) to January 20 (09:00 AM UTC) – Subscription Period: Subscription will open at this time for all eligible users for a 3-hour period. Users must also sign the Token Purchase Agreement at the same time, prior to committing their BNB. Please note that once committed, your BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals or trading until final token distribution.

January 20 (09:00 AM UTC) to January 20 (10:00 AM UTC) – Calculation Period: Subscription closes and token allocation calculation begins.

January 20 (10:00 AM UTC) – Final Token Distribution: Your final token allocation will be calculated and the corresponding BNB will be deducted from your already-locked BNB amount. Once deducted, your LOKA and BNB tokens will both be transferred to your spot wallet.

Follow the steps below to participate in the public token sale:

Step 1 – Click the “Commit BNB” button to begin the process of allocating your BNB holdings to the Launchpad program.

Step 2 – Once you’ve entered the amount of BNB you are willing to allocate, click “Commit Now“.

Step 3 – A popup dialog appears where you need to confirm your BNB allocation by again clicking on the “Commit Now” button.

Step 4 – Your BNB has been committed. You can choose to commit additional funds up to your maximum commitment limit displayed at the top of the menu.

Create Binance Account

5. Past Binance Launchpad projects and final thoughts

According to Binance, the subscription model could be used for already-circulating tokens prior to their debut on Binance, and will likely not remain exclusive to strictly new token listings.

The Binance Launchpad program has historically been one of the more lucrative investment vehicles in the cryptocurrency space. Here’s the performance of some of the previous Binance Launchpad projects:

Launchpad Project	ROI (expressed in USD)
Voxies	11.7x
Beta Finance	7.6x
Coin98	31.7x
Axie Infinity	699x
The Sandbox	535x

*Data collected on January 11, 2021 at 14:30 UTC.

January 11, 2022

World’s Leading Platform for Financial NFTs, Pledge Finance, Adds Bitfury CEO to Advisory Board
Palo Alto, California, 11th January, 2022, Chainwire

Pledge Finance is pleased to announce Brian Brooks as a Strategic Advisor. Brian’s impressive resume includes time as CEO for both Bitfury and Binance.US, experience that will help Pledge become the premier platform for building long-term lending dApps for DeFi.

A graduate of Harvard, Brian’s been recognized as one of the most influential U.S. Comptrollers of the Currency, where he granted the first federal bank charters to fintech and crypto companies, paving the way for integration of crypto and traditional finance sectors. A visionary leader, Brian ranked 13th on Cointelegraph’s top 100 people in blockchain, tenth on Crunchbase’s top global influencers, and top 20 crypto regulatory voices by Qredo. He’s served multiple top startups in various capacities including Coinbase, Avant, and now, Pledge.

“Pledge is an amazing project with outstanding potential,” Brian said. “It’s laying the foundation for the future of DeFi lending, with potential to be as important to DeFi as AWS is to the current internet. Pledge will do great things, and create a platform for other companies to do even more great things.”

“Brian’s experience in traditional finance and crypto adds a lot of value to our protocol,” said Pledge CEO, Tony Y. Chan. “His keen insights into corporate law, financial operations, and blockchain technology will allow us to innovate and scale in the DeFi space.”

Pledge is committed to being the world’s lending marketplace for Bitcoin loans, focusing on providing not only longer-term loans but also the building blocks necessary to create next-generation lending dApps. Pledge will leverage the innovative concept of financial NFTs to bring interest rate swaps to DeFi, a multi-trillion dollar market in legacy finance that’s currently absent from crypto.

For more, email bd@pledger.finance

About Pledge
Pledge is the world’s lending marketplace for Financial NFTs. Starting with the fixed rate and terms bitcoin loan, Pledge V1 offers fixed return to TradeFi and DeFi investors. In addition, Pledge V1 provides fixed cost of capital to professional crypto traders. Pledge V2 will make the bitcoin loans tradable by converting bitcoin loans into Financial NFTs.

For more information, please visit www.pledger.finance.

About Brian Brooks
Brian Brooks currently serves as CEO of Bitfury Group, the bitcoin mining and crypto tech pioneer. He previously served as CEO of Binance.US; Acting U.S. Comptroller of the Currency; Chief Legal Officer of Coinbase; and Executive Vice President and General Counsel of Fannie Mae, among other roles. He is a current or former board member of Voyager Digital, Interfirst Mortgage, Spring Labs, Fannie Mae, and Avant, and an advisor to a number of fintech and crypto startups. He is an honors graduate of Harvard University and the University of Chicago Law School.

Contacts

CEO
- Tony Y. Chan
- Pledge
- bd@pledger.finance
- +1 415-644-8999
January 11, 2022
Binance CEO Changpeng ‘CZ’ Zhao Has an Estimated Net Worth of $96 Billion, According to Bloomberg
Changpeng Zhao, the founder and CEO of the world’s largest cryptocurrency exchange Binance has an estimated net worth of $96 billion, according to a Monday’s report published by Bloomberg.

Key takeaways:
- The majority of CZ’s net worth is reportedly tied in his stake in Binance – the crypto billionaire owns 90% of Binance’s shares, according to recent regulatory filings.
- The latest net worth estimate places CZ just outside Forbes’ top 10 billionaires list. Microsoft co-founder Steve Ballmer currently occupies the 10th spot with $98.2 billion.
- CZ’s real net worth could be far higher than Bloomberg estimates. When speaking with Associated Press in November, Zhao revealed that the “majority” of his fortune is tied up in personal crypto holdings consisting of Bitcoin and Binance Coin.
- Sam Bankman-Fried, the founder and CEO of FTX, is another crypto member on the list of wealthiest individuals with a reported net worth of $26.5 billion.
- Due to its private ownership structure, it is almost impossible to pinpoint the exact market capitalization value of Binance. Last year’s report by the Wall Street Journal showed the exchange could be worth up to $300 billion.
- The hypothetical market capitalization ranks Binance as the 29th largest company in the world, ahead of entertainment giant Walt Disney and multinational oil and gas corporation Exxon Mobil.
January 10, 2022
Pollen DeFi $PLN will be the first Avalanche token to list on AscendEX
Tortola, British Virgin Islands, 10th January, 2022, Chainwire

On Tuesday 11 January at 09:00 EST / 14:00 UTC, $PLN, the governance token of the Pollen DeFi protocol, will be listed on AscendEX. It is the primary centralised exchange listing of $PLN, and the first Avalanche chain token to list on AscendEX.

Pollen DeFi simplifies crypto portfolio management. It provides new opportunities to earn for both profitable traders and those wishing to hold dynamically managed portfolios, without the need for them to manage allocations and assets themselves.

$PLN is the utility token that unlocks the Pollen DeFi ecosystem. Features include asset management, the ability to delegate to top performing traders or self-manage, the creation of topical portfolios by influential traders and community owners through a DAO, tokenized asset indexes, and the ability to earn (or burn) $PLN through good or bad portfolio choices.

With funding and support from VCs including Protocol Ventures, Fomocraft Ventures, Red Building Capital, AventuresDAO, Rarestone Capital and Alphabit, Pollen DeFi is set to unleash a game-changing set of product features into the emerging suite of multi-chain DeFi 2.0 protocols. Pollen has been building for more than a year, amassing an experienced team with professional experience from the fields of finance, governance, data sciences, mathematical modeling, smart contract development and product creation. Pollen DeFi is set to disrupt a multi-trillion dollar market with a truly decentralised asset management ecosystem.

$PLN will be the first Avalanche token on AscendEX.

Pollen DeFi is incredibly proud to be the first Avalanche ecosystem token to list on AscendEX. Registered in Singapore, AscendEX prides itself on listing cutting-edge DeFi projects on a platform which has all the features and benefits of a smooth trading experience and liquidity of a centralised exchange. AscendEX is backed by Polychain Capital, Alameda Research, Jump Capital and Hack VC, and reports that it serves over one million retail and institutional clients, and has reached over $200 million in average daily trading volume.

Philip Verrien, Pollen DeFi Co-founder and Project Lead: “We are proud to be the first Avalanche token to list on AscendEX. A whole new audience of potential Pollen users who wish to participate in DeFi and the emergent Avalanche ecosystem, but are more comfortable with the experience and tools of a CEX, can now take their first step into the Pollen DeFi asset management ecosystem through our primary listing on AscendEX.”

Pollen DeFi deployed on Avalanche in response to community demand coupled with an incredible wave of TVL growth, wallet growth and product innovation on the fast, reliable and cost-effective Avalanche chain. Pollen DeFi is a cross-chain project, and is actively monitoring DeFi trends and user behaviour and listening to the ‘hive-mind’ community to inform its roadmap, with a refreshed project timeline in the works.

Pollen protocol approaches mainnet, with staking on AscendEX.

Mainnet is scheduled for Q1, so holders of the $PLN token don’t have long to wait until they can put their $PLN to work in a multitude of ways. While waiting for the mainnet launch $PLN can be staked on AscendEX with an attractive APR to reward early adopters of this future hub of the DeFi and investing landscape. Staking opening time will be announced on Pollen DeFi’s twitter.

Trading of $PLN/USDT opens on AscendEX on Tuesday 11 January 2022 at 09:00 EST / 14:00 UTC. Wallets will be open for deposits approximately 12 hours before, please follow Pollen DeFi channels for updates. $PLN is available to trade now on the Avalanche decentralised exchange Trader Joe.

Preview of the upcoming Pollen DeFi protocol portfolio management interface.

ABOUT POLLEN DEFI AND THE $PLN TOKEN

Pollen DeFi simplifies crypto portfolio management for the next 100 million global investors to enter the future of finance by using a truly decentralized protocol to leverage the power of the “hive mind” to optimize assets for retail users.

$PLN is the governance token that is both earned and burned based on portfolio performance. Pollen DeFi users can either manage a portfolio themselves or delegate to proven traders. New portfolios will be created by communities and influential figures via a DAO governance process, allowing communities to tackle crypto portfolio management as a team.

Watch the Pollen DeFi project trailer here

Twitter | Telegram | Discord | Medium | Website

Contacts

Co-founder, project lead
- Philip Verrien
- Pollen DeFi
- phil@pollen.id
January 10, 2022
Crypto-Focused Investment Firm a16z Raises $9 Billion For Its New Venture, Growth, and Bio Funds
Venture capital firm Andreessen Horowitz, also referred to as a16z, has recently announced it raised $9 billion that will be distributed among the company’s new trio of investment funds. The company made headlines last year when it launched a massive $2.2 billion crypto fund and later led a $100 million Series B investment in OpenSea, the largest non-fungible token (NFT) marketplace in the world.

Key takeaways:
- According to the company’s press release, the funds will be distributed among the new lineup of funds – $1.5 bln will go towards the Bio fund investing in biotech-focused companies, $5 bln will be allocated to the Growth fund, and the remaining $2.5 bln to the Venture fund.
- The a16z team wrote that freshly acquired capital will be used to push the company’s vision of a “technology-enabled future.”
- The company will reportedly invest in companies at various stages of development – a16z will be “writing checks as small as $25,000 and up to hundreds of millions of dollars.”
- Andreessen Horowitz is one of the more prominent financial backers in the cryptocurrency space – a16z made investments in some of the more successful crypto projects to date, including Uniswap, OpenSea, Near Protocol, Compound, Avalanche, and many more.
- The company’s $2.2 billion crypto fund launched in June was the third of its kind; the first crypto investment vehicle launched in 2018 was worth $300 million, while the second, launched in 2020, was worth $515 million.
- Marc Andreessen and Ben Horowitz founded Andreessen Horowitz in 2009, driven by a simple question: “How to win the future?” The company took early stakes in tech unicorns Facebook, Twitter, Pinterest, Airbnb, and Slack.
- A16z’s first crypto investment came in late 2013 when the company invested $20 million in leading cryptocurrency exchange Coinbase. At the time, Coinbase’s valuation was $143 million. Eights years later, Coinbase is a publicly-traded company with a market cap of $46.65 billion.
- Andreessen Horowitz held $18.8 billion in assets under management (AUM), as of August 31, 2021.
January 10, 2022
Yield Farming On The Rise As We Enter 2022

The world of cryptocurrencies, blockchain and DeFi is one filled with all sorts of opportunities to earn an income. While many would prefer to simply hold on to dear life when it comes to various crypto assets (also known as ‘hodling’), there are nonetheless those that actively seek out new ways through which these digital assets can be utilised to earn a source of income. One of these ways is through yield farming, but as is the case with any investment strategy, it is imperative to understand what this method actually entails and how traders can get involved with it.

What is yield farming?

The concept of yield farming is not new by any means, and it has become fairly commonplace in this industry. In simple terms, yield farming can best be understood as a viable investing method in the DeFi sector. It involves staking or lending various cryptocurrency assets in exchange for certain incentives pertaining to interest or transaction fees. Many have often said that yield farming is quite similar to staking primarily due to the fact that both would normally require users to hold a certain amount of tokens or coins in order to earn substantial profits. A sizable portion of investors therefore view staking to be a key component of yield farming.

Of course, there are all sorts of exchanges through which traders can participate in yield farming, with some of the more popular choices including but not limited to Uniswap, 1inch, SushiSwap, PancakeSwap, and Bitrue which actually introduced a new yield farming hub on its platform not too long ago.

Can yield farming really be profitable?

In the end, whether or not investors are able to take advantage of the various features and opportunities provided by yield farming really depends on their respective abilities, knowledge, risk appetite, budget and overall expertise. As it is with nearly all aspects related to the crypto industry, the traders with the most experience and appetite for risk are usually the ones who reap the most benefits.

With that being said however, one thing is clear and that is the fact that yield farming is not going anywhere for the time being nor is its popularity decreasing any time soon. The aforementioned new yield farming hub provided by Bitrue is a prime example of this, as it offers staking opportunities with APYs of over 150% as well as capabilities regarding loans, futures, voting rights, lockups and more. Needless to say however, no investment strategy is without risk and so investors are always encouraged to conduct their own research beforehand in order to mitigate the chances of incurring a loss.

January 10, 2022
PayPal Confirms it is Working On Its Own Stablecoin
Digital payments giant PayPal is exploring the possibility of launching its own stablecoin to expand its growing suite of crypto products and services. The evidence of the company’s stablecoin initiative was first spotted in PayPal’s mobile app code by software engineer Steve Moser, who shared his findings with Bloomberg on Friday.

Key takeaways:
- According to Moser, the hidden code in the mobile app shows a section dubbed “PayPal Coin,” which suggests the name of the upcoming stable digital currency.
- The information shared by Moser was later corroborated by a company’s representative, who confirmed PayPal is indeed working on a brand new stablecoin solution that will in all likely hood be pegged to the value of the US Dollar.
- A PayPal spokesman commented on the report: “We are exploring a stablecoin; if and when we seek to move forward, we will of course, work closely with relevant regulators.”
- Although PayPal’s work on a stablecoin is all but certain, the images and other information found in the hidden code is a result of a recent internal hackathon. This means that the development is still in the early stages and that the new crypto product could have different properties once it hits the market.
- PayPal has been at the forefront of institutional adoption of digital assets. The company first introduced cryptocurrency functionality to its US customers at the end of 2020 and later expanded its offering to UK customers in September of last year.
- The stablecoin sector has been experiencing a meteoric rise over the last couple of years. The combined value of all stablecoins in circulation has risen from roughly $5 billion in January 2020 to $168 billion today, according to data from CoinCodex. PayPal’s entry into the market could lead to a major shake-up in the space currently dominated by Tether (USDT), which controls a roughly 45% market share.
January 10, 2022
Polygon is the #1 Coin to Watch for the Week of January 10 – January 16, 2022

The 2022 did not start very well for cryptocurrency investors as we have witnessed first significant market sell off already during the first week of the new year. To provide a little more detail, nearly every cryptocurrency lost more than 10% of its value on Thursday, January 6, following news that the U.S. Federal Reserve is planning to increase interest rates and start selling its $8.7 trillion portfolio. U.S. tech stocks also suffered some losses. Nevertheless, the losses were greater in the crypto sector where more than $790 million worth of long positions got liquidated. The total cryptocurrency market capitalization even dropped below $2 trillion on January 8, which has not happened since the beginning of October 2021. In this week’s article, we list coins that managed to stay relatively unaffected by the sell-off and those that are likely to undergo a speedy recovery.

3. Phantasma (SOUL)

Phantasma is a Layer 1 protocol optimized for Smart NFTs. These are non-fungible tokens that can be created on demand, deliver perpetual royalties, and can offer a time-limited access to content. Phantasma has diverse use cases in the GameFi sector, and its developers claim they are building the technological backbone of the future of gaming. Phantasma is a dual token economy that utilizes SOUL as its governance token and KCAL to pay for transaction fees and minting of NFTs. Phantasma’s rapid appreciation is outstanding even for the burgeoning blockchain gaming sector, as SOUL gained around 300% in the last 3 months and 4,300% in the past 1-year time frame.

Buy/Sell SOUL

Is Phantasma the future of blockchain gaming?

The fundamental drive of Phantasma’s rally is the growing popularity of NFTs and their use in blockchain gaming. However, Phantasma has a few more crucial features that attract new project to use Phantasma network. One of the key characteristics of Phantasma is the network’s cross-chain interoperability, as the network can smoothly interact with Ethereum, BSC and NEO-based dApps. Because of the network’s interoperability, high throughput and low costs, several projects including the role-playing card game Blood Rune, the mobile game Ghost Festival and the NFT marketplace GhostMarkets, have decided to launch on Phantasma in the past few weeks. In addition, the Phantasma network is certified as a carbon-negative blockchain, which sets it apart from carbon-heavy networks like Ethereum and helps attract positive attention to the project. Since the interest in blockchain gaming and NFTs is not showing signs of cooling down anytime soon, Phantasma has a lot of room to grow. In addition, the project has recently released its roadmap for first half of 2022, which is packed with upgrades and new functionalities.

2. Cosmos (ATOM)

Cosmos is developing a network of blockchains that would facilitate the interoperability of multiple, otherwise incompatible, blockchain applications and cryptocurrencies. The scalable blockchain network built for developers had grown from a small ICO into a thriving ecosystem. At the time of writing, the network’s native cryptocurrency ATOM has a market capitalization of $8.26 billion, which is more than three times as much as it had 6 months ago.

Buy/Sell ATOM

The launch of Evmos and the upcoming Theta upgrade are the key drivers of ATOM’s most recent rally

Rare were the coins that managed to defy the bearish trend that prevailed throughout most of the cryptocurrency market during Week 1, but ATOM was among them. While the majority of other cryptos was still slowly loosing value towards USD on Friday, January 7 ATOM managed to spike above its price from September 2021 and set a new ATH price, which now sits at $44.47. The launch of a cross-chain bridge called Evmos, which makes Cosmos compatible with the Ethereum Virtual Machine (EVM) was identified as the main cause of the rally. The new bridge allows Ethereum-based projects to interact with the Cosmos ecosystem will drastically increase the number of projects that can communicate with DeFi and NFT projects from the Cosmos ecosystem. Up to now, only Gravity Bridge enabled the transfer of ERC-20 tokens between the Ethereum and Cosmos blockchains. At the moment Gravity Bridge still operates as a standalone chain, but it plans to transfer to Cosmos Hub this quarter. Another factor that has contributed to the ATOM rally is the upcoming Theta upgrade. Its much-anticipated launch is slated for March 31. Among other things, Theta upgrade will bring support for meta-transactions, inter-chain accounts, NFT modules and liquid staking.

1. Polygon (MATIC)

Polygon, previously known as Matic Network is an Ethereum Layer 2 scaling solution that focuses on providing major scalability improvements to the biggest smart contract blockchain. The Polygon protocol aims to deliver supersonic speeds and throughput by utilizing a modified version of Plasma. Its Layer 2 solution consists of several simultaneously run Proof-of-Stake sidechains that regularly push the data to Ethereum to create network checkpoints.

Buy/Sell MATIC

Polygon sees record-breaking activity at the end of 2021 and has a lot more in store for 2022

Polygon ended 2021 at an all-time high as its MATIC token was changing hands at a record-breaking $2.91 on December 27. However, Polygon did not spike only in terms of MATIC price but also in terms of network activity as this Layer 2 project recorded a record amount of gaming NFTs sold on the network and exponential growth of unique daily active during the last month of 2021. While MATIC was also hit hard by the market-wide sell off that took place last week investors will likely regain faith in the most successful Ethereum L2 project faster than in other cryptocurrencies with less utility. In addition, Polygon’s 2021 Year in review official blog post gives an interesting sneak-peak into what the team will be working in 2022. At first, they will integrate EIP-1559 that will introduce burning of MATIC tokens and better fee visibility to the network. The team is also making everything ready for the launch of two public testnets – Polygon Hermez in Q2 and Polygon Miden in Q3 2022. Furthermore, the Polygon team disclosed that the relatively popular Opera browser will integrate with Polygon in 2022, which could provide a major boost to Polygon adoption, potentially bringing in millions of new users. However, developers first need to tune the protocol to accommodate such a high number of users. As it turned out, the high network activity caused by heavy NFT minting and trading in December acted as a stress test and exposed that even a scalable network like Polygon is prone to rising gas fees in times of network congestion. Amidst NFT craze fees on Polygon increased by more than 16x. Because of this, one project even decided to delay its launch. The upside in this whole story is, that even in times of network congestion fees on Polygon remained far lower than those on Ethereum L1, where one transaction could cost you more than $100.

January 10, 2022
Goldman Sachs Foresees Bitcoin Hitting $100,000 and Taking on Gold
Key takeaways:
- According to a recent report by financial behemoth Goldman Sachs, Bitcoin could reach $100,000 if investors embrace it as an alternative to gold
- Bitcoin would have to capture 50% of the “store of value” market in order to hit the six-figure milestone
- Goldman Sachs analyst Zach Pandl envisions that the adoption of Bitcoin will continue growing “as a byproduct of broader adoption of digital assets”
On Wednesday, investment banking giant Goldman Sachs (GS) published a note to its client in which it detailed how Bitcoin could reach a $100,000 price tag and grow past $1.8 trillion market valuation.

Goldman Sachs predicts Bitcoin could be worth $100K if investors embrace it as digital gold

The world’s largest crypto has recently faced severe hardship in the markets, dropping to September lows below the $42,000 level after losing roughly 10% of its value on Thursday. However, Goldman Sachs is looking past day-to-day price fluctuations and is instead focusing on broader macroeconomic trends that have contributed to the meteoric rise of Bitcoin and other digital assets over the last couple of years.

Bitcoin currently accounts for 20% of the “store of value” market. Image source: Goldman Sachs

Goldman Sachs’ prediction is founded on the premise that Bitcoin could be a viable alternative to gold as an inflation hedge asset and a stable store of value. Zach Pandl, a senior market analyst at Goldman Sachs, commented on Bitcoin in the report:

“We think that bitcoin’s market share will most likely rise over time as a byproduct of broader adoption of digital assets. … We think that comparing its market capitalization to gold can help put parameters on plausible outcomes for bitcoin returns.”

According to GS’ analysts, Bitcoin accounts for a fifth of the global $2.6 trillion “store of value” market at current market rates. Pandl forecasts that Bitcoin will continue to expand its dominance in the sector and could eventually displace gold as a leading store of value in the space. The senior analyst added that if Bitcoin were to capture 50% of the market in the coming years, the price of the world’s oldest crypto would reach almost precisely $100,000.

Grayscale Has More Assets Under Management Than the World’s Largest Gold ETF

While it is hard to envision a 50% increase given the current market state, let’s not forget that Bitcoin has gained nearly 5,000% since 2016 alone.

Interestingly, the recent report from Goldman Sachs comes just a couple of days after the President of El Salvador, Nayib Bukele, presented his own case for a $100K Bitcoin.

Buy/Sell BTC
January 7, 2022