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TRON Ushers in Prediction Markets after Partnering with Prosper

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Iva Wisher, Prosper co-founder, notes that the partnership with TRON represents a milestone in Prosper’s efforts to “collaborate with the biggest players of the DeFi world.”

TRON users will soon access cross-chain prediction markets and hedging on the platform’s burgeoning DeFi ecosystem, according to a March 3rd release announcing a partnership with Prosper, a non-custodial, cross-chain platform.

TRON, already one of the world’s largest and most popular blockchain-based operating systems, is enjoying a rapidly-expanding DeFi ecosystem, leading founder Justin Sun to emphasize a mantra of being “all in on DeFi” by continuing efforts to partner with top projects in the space.

Development and integration steps are expected to be announced in the coming weeks, but TRON users are expected to be able to utilize the native TRX coin as the basic prediction token for all features and functionalities on Prosper. Collaboration between the projects is expected to enhance liquidity, a critical component of DeFi prediction markets, as any TRX holder can maximize yield or hedge positions.

Decentralized prediction markets have rapidly grown in popularity as users realize the peer-to-peer networks all but eliminate the potential for corruption, manipulation, and efforts by a centralized authority to impact participation and scalability.

All types of prediction markets rely on a ‘wisdom of the crowd’ philosophy to guide decisions on future events like elections, the sale of a company, or price fluctuations of assets like fiat currencies, cryptocurrencies, or commodities.

However, the unique aspects of DeFi prediction platforms lead some to speculate they could become a “mega-industry” and serve as a clearinghouse for predictions that could impact and influence the entire crypto ecosystem.

Prosper has made waves in the predictions market by developing unique technology to aggregate on-chain liquidity. According to the team, reliance on binary models for liquidity provision across blockchains, alongside a short-term market model enabling randomized results for custom pools, enhances the ability of its market to become more accurate at forecasting events. Prosper liquidity providers also have access to high APRs and a free maximum insurance fund.

Iva Wisher, Prosper co-founder, notes the partnership with TRON, who acquired BitTorrent in 2018, represents a milestone in Prosper’s efforts to “collaborate with the biggest players of the DeFi world.”

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Overtime Secures $80M in Series C Funding Round, Featuring Jeff Bezos, Drake, Others

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The Overtime Series C Funding round speaks to the growth of the company since it was founded in 2016.

Popular American sports media brand, Overtime has secured $80 million in a Series C Funding round featuring prominent investors. According to a CNBC report, the round was backed by Bezos Expeditions, the personal investment firm of Jeff Bezos, the Chief Executive Officer of Amazon.com Inc (NASDAQ: AMZN). Popular musician Drake, Reddit Co-Founder Alexis Ohanian, and several National Basketball Association players also took part in the round.

Overtime runs a distributed sports network and shares content on several social media platforms including Instagram, Facebook, YouTube, and Snapchat amongst others. The firm has huge followership numbering up to 50 million. Besides its media content, Overtime also sells apparel with its logo and branding. 

“The breadth and diversity of this investment group, including leaders from business, entertainment, technology, and sports, speaks to Overtime’s remarkable growth and our future trajectory,” co-founder and CEO Dan Porter said in a statement. “We believe this is just the tip of the iceberg, as we develop new ways for Overtime to engage with and entertain the next generation of athletes and fans.”

Other investors who participated in the round include WNBA All-Star and commentator Chiney Ogwumike, Rogue Insight Capital, and about 25 current and former NBA players including but not limited to Deandre Ayton, Lonzo Ball, Will Barton, Devin Booker, Anthony Edwards, De’Aaron Fox, and Pau Gasol.

Overtime Series C Funding Round Is More Than a 5-Year Growth Testament

The Overtime Series C Funding round speaks to the growth of the company since it was founded in 2016. The funds according to the report will be channeled toward the expansion of Overtime’s business bordering on its Non-Fungible Token (NFT) integration, Trading cards, and the rollout of new and engaging content for its growing fans.

More importantly, Overtime said it will be channeling the funds into the development of Overtime Elite (OTE), the company’s flagship basketball league for athletes within the 16 to 18 year age bracket. 

Through the OTE, these groups of athletes may be earning at least $100,000 and the injected funds can help make this possible. Additionally, staffs will be hired to drive the growth of the league and Overtime says it is going to continue investing in its sports app, where fans can get stats, scores, hot insights, humor, culture, kicks, and more, with the goal of having the number one sports app in North America.

“Overtime has built an unrivaled brand and global community from scratch in just five years. This fundraise reflects the incredible growth opportunities associated with such a market-leading position, including the opportunity to bring Overtime Elite into the world,” said Michael Spirito, a partner at investment firm Sapphire Sport Partner, who led the funding round.

Prior to this time, Overtime has raised more than $60 million from early investors, bringing its total funding to $140 million.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Ethereum Price Hits All-Time High Close to $2,600

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Ethereum has hit a new ATH. Ethereum price is now up over 1400% in the past year. 

Ethereum (ETH) market price was up nearly 8% today and hit its all-time new high around $2,593.00. As a result, Ethereum’s total market capitalization jumped to around $298.1 billion, with its 24% traded volume on average at around $55.75 billion.

The second most valuable digital asset by market capitalization and also DeFi leading ecosystem saw its volatility spike during the day. According to market data provided by CoinGecko, Ethereum was trading around $2,566.83, up approximately 7.8% in the past 24-hours. Ethereum price is now up over 1400% in the past year.

Most other cryptocurrencies have recovered from last weekend’s pullback that most of them down over 10%. Bitcoin’s (BTC) market price was trading around $54,978.00, down approximately 1% in the past 24-hours. On the other hand, Binance native coin BNB, which is the third by market capitalization, was trading around $570, down approximately 2% in the past 24-hours.

The total crypto market capitalization was around $2.12 trillion, slightly below Apple Inc (NASDAQ: AAPL) $2.24 trillion according to MarketWatch. Worth noting, the current Gold’s market capitalization is around $11.31 trillion, having been a multiple of the current gold price around $1,784 per ounce with the gold above the ground globally according to Coinmarketcap.

Factors that Affected Ethereum (ETH) Price Spike

Ethereum price is responding to both fundamental aspects and speculative aspects of the market. Notably, several fundamental aspects have enabled the asset scale over ten times in the past year.

Besides being the highest Decentraland finance ecosystem, the Ethereum blockchain has been dubbed as a future technology that will significantly disrupt the global economy in the next decade.

In a bid to stay on top of the market amid emerging competition from the likes of EOS, Tron Foundation, and Binance Smart Chain, Ethereum is set to launch the beacon chain. As a result, the blockchain will carry more transactions per second and also offer affordable transaction costs. Notably, Eth 2.0 will entail the rollout of the beacon chain that is to be launched in phases, whereby Phase 0 was launched at the end of last year.

The other fundamental that affects the Ethereum market price is the fact that institutional investors can now access the asset through the recently launched futures contract by the Chicago Mercantile Exchange (CME).

As for the speculative aspect, retail traders have used digital assets as speculative assets besides other use cases. The vast volume and liquidity from the retail investors both decentralized and centralized exchanges continues to drive the Ethereum market price higher.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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VZ Stock Down, Verizon Q1 EPS and Revenue Beat Analysts Estimates

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According to the Q1 earnings report, 70% of Verizon’s revenue came from wireless business.

Verizon Communications Inc (NYSE: VZ) stock tweaked a bit during Wednesday’s pre-market but traded around yesterday’s close, $58.39. At the time of writing, at the trading session, VZ is 0.41% down, at $58.15. Although not a significant tweak, the spike in volatility coincided with the quarterly earnings results. Verizon reported its Q1 earnings per share at $1.31, up 3.97% over the past year.

Notably, the company recorded a revenue of $32.867 billion, 3.98% higher than last year’s. As a result, Verizon’s Q1 revenue beat analysts’ estimates of $32.46 billion.

According to the Q1 earnings report, 70% of Verizon’s revenue came from wireless business. The company reported that it is a wireless service provider to approximately 91 million postpaid and 4 million prepaid phone Americans. Thereby making it the largest United States wireless carrier, whereby it also connects over 25 million data devices.

Verizon Stock and Its Performance in Q1

Although Verizon is a major technology-oriented company, its stock market had not benefited significantly from the covid crisis. According to market data provided by MarketWatch, VZ stocks added approximately 0.69% last year. Notably, they are down around 0.61% since the beginning of the year.

The company has a reported market valuation of approximately $241.73 billion with around 4.14 billion outstanding shares. In the past 52 weeks, Verizon stock traded between $52.85 and $61.95. Having been rated 28 times, Verizon stocks received an average rating of Over.

In a bid to diversify its revenue collection avenues, Verizon has been expanding its wireless network to different places amid various acquisitions. The firm has agreed to acquire Tracfone, a wireless reseller that serves about 20 million prepaid customers in the US.

Notably, the firm has been losing postpaid wireless customers, whereby it recorded a loss of 178,000 postpaid wireless phone subscribers vs. analyst estimates for a 198,000 loss in the first quarter.

The business unit recorded a revenue of $7.8 billion, up 1.3% on a yearly basis. On the other hand, Verizon Media revenues came in at $1.9 billion, up approximately 10.4%.

From a technical point of view, Verizon stocks have been trapped in a horizontal consolidation for the past two and a half years. Furthermore, they have not fully recovered from last year’s stock market crash. Short-term stock traders are waiting for the next breakout to enter into the VZ market, whilst long-term traders hold as the general direction is an upward trend.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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