Bases Layer 2 Opportunities. Here’s Why Investors Are Buzzing
In the ever-evolving world of cryptocurrency, one name that’s been stirring up excitement is Base. So, what exactly is Base? Well, it’s an Ethereum Layer 2 (L2) solution designed to turbocharge transactions, slashing both time and costs while maintaining ironclad security. But what sets it apart and why could it be the next big thing in the crypto space?
Backed by the heavyweight of US exchanges Coinbase, Base enjoys a powerful support system. With Coinbase’s mission to usher in 1 billion users into the realm of Web3, Base is primed to ride the wave of Coinbase’s growth, drawing attention to its innovative on-chain products.
Related: What Is Base? The Ultimate Guide to the Base Ecosystem
One of the major hurdles for any new blockchain is attracting users, however Base faces no shortage here. With over 110 million potential users already on Coinbase and the ambitious goal of reaching one billion Web3 users, Base’s potential seems boundless as new crypto coins launched on the network immediately become available to all its users.
The recent surge in users, revenue, and transactions in March is a clear indicator of its rising popularity, with staggering spikes in key metrics.
As Base continues to evolve, offering fertile ground for dApps, gaming, airdrops and ecosystem projects, it’s only a matter of time before it establishes itself so it looks like a narrative to pay attention to.
The marriage between the $2.9 trillion insurance industry and tokenised real-world assets is paving the way for a seismic shift in how we perceive and manage risk.
Nayms, an on-chain insurance marketplace, exemplifies this transformative fusion. As the insurance sector grapples with challenges ranging from soaring costs to evolving consumer demands and persistent fraud, blockchain technology emerges as a beacon of hope, offering solutions that promise to revolutionise the industry.
What is a game changer about Nayms also is that the risk is denominated in the same currency that is insured e.g. if you insure your Solana, you get paid out in Solana and not USDC.
Related: What Is Insurtech: How Fintech Companies Are Revolutionizing The Insurance Industry
Blockchain’s potential to disrupt insurance is nothing short of revolutionary. Projections suggest a $32.9 billion market for blockchain-powered insurance solutions by 2031. Nayms stands at the forefront of this digital revolution, leveraging blockchain’s distributed and transparent nature to democratise insurance and create a secure, interoperable marketplace for insurance-related transactions.
Nayms targets blockchain-specific risks, such as those associated with cryptocurrency exchanges and DeFi smart contracts, offering coverage for billions in uninsured value.
With the integration of governance tokens and the aim of bringing liquidity to insurance as an asset class, Nayms is poised to unlock over $1 trillion of alternative capital in digital assets, signalling a transformative shift in the insurance landscape. The Nayms token also hosts staking opportunities by providing liquidity to return 13-14% through their insurance pools on their marketplace.
Where to next for the BTC Giant.
We are currently sitting in a bullish pennant formation on the daily timeframe for BTC/USDT which looks like this:
A bullish pennant, one of our go to patterns when recognising a bullish move emerges as a continuation pattern during a consolidation phase following an upward trend. This is exactly where Bitcoin is currently at. We are consolidating unless we decide to break down and drop below $62,000 and invalidate the symmetrical triangle we have just built out.
Below, we can identify two potential entry points for BTC. First, at the lower support level of the symmetrical triangle, where price action may react and bounce once more as the triangle’s apex approaches. Another entry opportunity arises beyond the breakout of the symmetrical triangle, particularly above $72,000, contingent upon confirmation that we have fully exited the zone without a false breakout. Confirmation is only validated if candles consistently open and close above the previous highs, notably around the $72,000 mark and higher.
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