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Our delusional perspective on Iconomi platform and why we may be considering moving out some of our strategies in the next several months:

- Fees are not competitive enough compared to DEX and CEX, while too many assets cannot be taken in self custody nor deposited (only for $BTC $ETH $USDT $USDC)

- Management did not implement features requested by community as shorting, physical credit cards, comparison of any asset on the platform (strategies can be compared but not against specific coins, nor specific coins with other specific coins) and so other features that were super demanded and whose controversy has been cleared lately, like staking for instance. Competitors like Kraken or Coinbase for instance allow staking.

- Management has no clear vision: originally the company was born with the view of Decentralized Asset Arrays, it abandoned this view and now cannot figure out its roadmap, meanwhile asset tokenisation is taking over in classical finance.

- Iconomi does not define itself as a broker but does not disclose the details of your rebalances (eg. Exchange and prices where swapping occurs). Controversial to say the least.

- Platform does not provide real time graphs (lag of 10 min at least), not great for deciding around support and resistance levels.

- Users cannot even comment posts, so creating a one way communication and destroying the good created in terms of community creation done so far and possible interaction and question making to strategies managers.

- Iconomi mistakes (adoption of Luna USD and payback of shares through it) was never properly compensated nor acknowledged, not to users nor to shareholders. Now, after more than 5 yr from inception, Iconomi does not buy back its own shares, meanwhile operations as Triaconta acquisition was a failure, especially considering the original plan of (tokenised) company inception in Luxembourg.

- Altcoins are showing as the way of subtracting wealth from $BTC ecosystem, similarly to what happened with the ICO and successive Initial Private Offering when allocated money to 1 share (few ETH) now worth nothing as there is not even a buy back market from the company itself, while ETH worth almost a order of magnitude more.

We will monitor the evolution and keep you updated with our critical perspectives regarding what may be the evolutions of our services on the platform and our perspective on the platform itself.

Bests

Does anyone have any views on the ECB regulation regarding

30th December 2024 Ruling MiCA on $USDT

Crypto Snapshot: Latest News & Trends  

By SYGNAL

📈 Market News:

• Bitcoin’s Wild Ride: Bitcoin ($BTC) hit an all-time high above $108,000 but quickly fell below $93,000. It rebounded to $100,000 following a $20 trillion price prediction, reflecting market volatility. Analysts expect continued fluctuations due to macroeconomic factors. (CNBC) (Forbes)   
• Ethereum and Major Altcoins Rebound: Ethereum ($ETH), Ripple's XRP ($XRP), and Dogecoin ($DOGE) recovered alongside Bitcoin, helping the crypto market regain $300 billion in value. (Forbes)

💸 Money Flow:

• Tether's Treasury Holdings: Tether ($USDT)'s U.S. Treasuries stockpile drove record profits of $10 billion in 2024, showcasing the influence of stablecoin-backed assets. (Forbes)

🗣️ Crypto Influencers:

• Cathie Wood’s Bold Prediction: Ark Invest’s Cathie Wood reaffirmed her forecast of Bitcoin ($BTC) reaching $1 million by 2030, citing its potential to become a $20 trillion asset. (Forbes)

📜 Other Interesting Information:

• Bitcoin’s Growing Appeal: Amid monetary policy shifts and fiscal uncertainties, Bitcoin ($BTC)’s transparency is increasingly favored over fiat systems, highlighting its unique value proposition in the current economic climate. (Forbes)

Crypto Snapshot: Latest News and Trends  

By SYGNAL

📈 Market News:  

• Bitcoin ($BTC) surpassed $99,000 for the first time, driven by a surge in futures market activity during Asian trading. Analysts attribute this rally to post-election optimism about a more "crypto-friendly" administration. Ethereum ($ETH), Tether ($USDT), and Dogecoin ($DOGE) also gained traction as interest in the sector grows. (Forbes)
• The entire cryptocurrency market has surged 90% in 2024, marking a significant upward trend. (Forbes)   

💸 Money Flow:  

• ARK's Bitcoin ETF saw $267.3 million in inflows, while BlackRock's iShares Bitcoin Trust ETF options traded $1.9 billion on its first day, reflecting robust institutional interest in Bitcoin ($BTC). (CNBC)   

🌐 Adoption and Usage:  

• Acurx Pharmaceuticals announced plans to add up to $1 million in Bitcoin ($BTC) to its reserves, following in the footsteps of companies like MicroStrategy. (CNBC)   
• BlackRock’s iShares Bitcoin Trust ETF options began trading on Nasdaq, with a remarkable 73,000 contracts traded within the first hour. (CNBC)   

📜 Regulatory News:  

• Pennsylvania passed a Bitcoin Rights Bill and proposed a strategic reserve, though the move faces skepticism due to Bitcoin’s volatility. (Forbes)   

📢 Update

BM Digital Assets Classification Standard (BM DACS)

As part of our regular review process, some assets have been added recently to @ICONOMI ,we have classified them according to our sector classification methodology.

The classification is reviewed periodically to keep pace with changes occurring in the crypto market and appropriate industry regulation.

After any update to any project, its classification will be modified based on the project’s white papers.

Radical changes:

◾We have modified our internal classification of the media and entertainment sector to include: content creation, gaming, music, sports, video, memes, social media platforms, search engines, prediction markets, gambling, non-fungible tokens, metaverse, augmented reality and virtual reality.

◾We have added a specific sector to keep pace with the changes taking place in the market: Asset-Backed Tokens

Asset-backed tokens are digital claims on a physical asset and backed by that asset.

Gold, crude oil, real estate, stocks, agricultural crops like coffee and cotton, or any other real or physical asset can be converted into a token and become an asset-backed token, or any digital claim to fiat currencies.

We will look at the outcome of the digitization of physical assets as part of this sector in the future, we look at the outcome of the process in this sector and not the ecosystem that supports the digitization of physical assets.

Currently: The assets listed on @ICONOMI that meet these criteria are $USDT, $USDC, $PAXG.

These tokens rely on trust from a third party, so be careful when holding one of these tokens.

You can take a look at our Digital Assets Classification Standard here.

Feel free to explore the changes and reach out if you have any questions or need further clarification.

We hope this helps you understand the crypto market in a simple way.

Thank you for your trust and continued support.

Best regards,

🔵The Strategist

@MomenJaradat