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Blockchain

How BikData’s Blockchain Storage Solutions Helps Businesses Monetize Their Data

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These days, a colossal number of businesses throughout the globe are sitting on a massive goldmine they have absolutely no idea about: their own data. The mass migration of businesses’ enterprise resource planning systems online has now presented the unprecedented opportunity for them to monetize this digital information all thanks to BikDataTM, an emerging fintech company disrupting the workplace for good.

Using revolutionary blockchain technology, BikData helps its clients store its information under six layers of encryption that can then be mined and turned into usable funds. While traditional storage methods of ERP systems can carry an exorbitant cost due the sheer size of the data, BikData’s innovative blockchain solution not only creates a simplified storage cache, but also allows for its direct monetization, a clear upgrade from the highly expensive conventional choices. Not to mention, the encryption tiers amp up security to new heights, letting companies rest easy at night knowing their data and employees’ information is safe and protected by BikData.

Always on the cutting edge of technology, BikData lets its clients get in on the burgeoning cryptocurrency industry themselves by building company-specific crypto tokens for every individual business. Directly tied to the companies’ performance and earnings, the token acts as a usable funding method for payment settlement and fulfillments and gives an incredible alternative to the public stock market fit for the digital age. Now, people can buy and trade investments in a company via their unique cryptocurrency, facilitating streamlined transfers and cutting out the middleman in the process.

By tapping into all the wonders that blockchain technology has to offer, BikData has single-handedly revolutionized the way companies handle their business forever. From monetization options to storage solutions and everything in between, companies looking to modernize and get with the times — all for their own benefit — need look no further than BikData as the one-stop-shop answer to all their problems.

Disclaimer: Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. BikData does not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will BikData and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

Copyright © 2021 BikData X Limitad. All rights reserved. BikDataTM and other products referenced herein are either trademarks or registered trademarks of BikData X Limitad. Other product and company names mentioned herein may be trademarks of their respective owners.



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Market & Analysis

Traders forecast $3K Ethereum price but derivatives data suggests otherwise

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Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn’t been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4. 

Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no longer be necessary after ETH2.0 goes live.

The network fees will automatically be set, although users can choose to pay extra for faster confirmation. Miners (or validators in the future) will receive this additional fee, but the base fee will be burned. In a nutshell, Ether is expected to become deflationary.

Ether price in USD at Bitstamp. Source: TradingView

While it’s difficult to identify the main drivers of the recent rally, it is possible to gauge professional traders’ sentiment by analyzing derivatives metrics.

If the recent price move was enough to instill confidence, the futures contracts premium and options skew should clearly reflect this change.

Bullish sentiment is missing even after futures contracts entered contango

By analyzing the price difference between futures contracts and regular spot markets, one can better understand the prevalent sentiment among professional traders.

The 3-month futures should trade with a 6% to 14% annualized premium on neutral to bullish markets, which is in line with stablecoins’ lending rate. By postponing settlement, sellers demand a higher price, and this causes the premium.

Whenever the futures premium fades or turns negative, it raises an alarming red flag. This situation is also known as backwardation and indicates that there is bearish sentiment.

September Ether futures premium at OKEx. Source: TradingView

The above chart shows that the Ether futures premium flipped negative on July 20 as Ether tested the $1,750 support. However, even the massive rally up to $2,450 wasn’t enough to bring the September contract premium above 1.3%, equivalent to 8% annualized.

Had there been some excitement, the annualized futures premium would have been at 12% or higher. Therefore, the stance of professional traders seems neutral right now and is flirting with bearishness.

To exclude externalities exclusive to the futures instrument, traders should also analyze options markets.

Options markets confirm that pro traders are not bullish

Whenever market makers and whales lean bullish, they will demand a higher premium on call (buy) options. This move will cause the 25% delta skew indicator to shift negatively.

On the other hand, whenever the downside protection (put option) is more costly, the 25% delta skew indicator will become positive.

Ether 1-month options 25% delta skew. Source: laevitas.ch

Readings between negative 10% and positive 10% are usually deemed neutral. The indicator had been signaling ‘fear’ between May 20 and July 19 but quickly improved after the $1,750 support held.

Despite this, the current 25% delta skew at negative 4 isn’t enough to configure a ‘greed’ indicator. Options markets pricing is currently well balanced between call (buy) and put (sell) options.

Both derivatives metrics suggest that professional traders gradually exited the ‘fear mode’ on July 20, but they are nowhere near bullish.

Currently, there is little confidence in the recent rally from these metrics’ perspective, which is understandable considering the risks presented by the upcoming hard fork and the uncertainty caused by unsatisfied miners.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.