crypto currency

This article is a community submission. The article is contributed by Derek Yoo, the CEO of PureStake, a development team for the Moonbeam platform for cross-chain connected applications. TL;DR  Cross-chain interoperability enables applications to communicate and interact with each other across different blockchain networks. This allows for the transfer of data and value between disparate systems, providing increased connectivity and seamless integration.  What Is Interoperability in Blockchain?  Interoperability in the context of blockchains refers to a blockchain’s capacity to freely exchange data with other blockchains. Cross-chain interoperability allows smart contracts on different chains to communicate with each other without having to send the actual tokens between chains. For example, assets, services, and transactions are recorded on a blockchain as documentation. Whatever activity takes place on one blockchain can be represented on another blockchain wit

Bitcoin and ether defend significant levels

Bitcoin and ether defend significant levels

Alex Kuptsikevich Alex Kuptsikevich 22.12.2021 09:18
The cryptocurrency market has gained another 1.8% over the past 24 hours, bringing its total capitalisation to $2.28 trillion. The index has been choking on growth for the past three weeks at the $2.3 mark, so further rise promises to strengthen the bullish case, at least in the short term. The cryptocurrency fear and greed index has jumped to 45. This is a fear territory, but very close to neutral territory. Judging by the continued demand for risky assets in traditional markets and the positive performance of cryptocurrencies as of this morning, this index could well continue to rise at the end of the day. Bitcoin is trading near $49,000, returning to the highs of the last week and a half, adding 1.3% in 24 hours and 2.3% over seven days. Technically, the first cryptocurrency managed to close noticeably above its simple 200-day moving average, which could spur demand from those buyers who were waiting for the battle for that important level to unfold. The price of Ether is above $4K, which is also a positive signal for the entire crypto market. The situation looks like Ether staying above $4K and Bitcoin staying above the 200-day average is fuelling buying among smaller altcoins. Keeping key currencies above psychological marks fuels hopes that the market has not switched to bearish mode. On the other hand, we remain wary of the crypto market outlook, noting that Bitcoin and Ether look like clinging to meaningful levels. The bearish scenario can only be cancelled if growth develops from current levels.
Bitcoin and Ethereum are staging a daily comeback

Bitcoin and Ethereum are staging a daily comeback

Monica Kingsley Monica Kingsley 30.12.2021 15:49
S&P 500 bulls stood their ground nicely, and the key sectors confirmed little willingness to turn the very short-term outlook more bearish than fits the little flag we‘re trading in currently – it‘s a bullish flag. Given the continued risk-off turn in bonds, the stock market setback could have been more than a tad deeper – that would be the conclusion at first glance. However, high yield corporate bonds held up much better than quality debt instruments, and that means the superficial look would have been misleading. Likewise as regards my other 2 signs out of the 3 yesterday presented ones – tech held up fine, and cryptos have practically erased yesterday‘s hesitation during today‘s premarket. The Santa Claus rally indeed hasn‘t yet run its course, and the slighly better than a coin toss odds of us not facing more than a very shallow correction, look to be materializing. As I wrote 2 days ago – What‘s Not to Love Here – we‘re entering 2022 with great open profits in both S&P 500 (entered aggressively at 4,672) and crude oil (entered with full force at $67.60). Both rides aren‘t yet over, copper is primed to catch up in the short run to the other commodities, gold is well bid at current levels, and together with silver waiting for a Fed misstep (market risk reappreciation) and inflation to start biting still some more while the real economy undergoes a soft patch (note however the very solid manufacturing data) with global liquidity remaining constrained even though the Fed didn‘t exactly taper much in Dec, and nominal yields taking a cautious and slow path towards my 2022 year end target of 1.80-2.00% on the 10-year Treasury. As I wrote prior Monday, we‘re looking at still positive 2022 returns in stocks – of course joined by commodities and precious metals. The path would be though probably a more turbulent one than was the case in 2021. We had a good year of strong gains, and I hope you have benefited. Thank you for all your appreciation and best wishes sent my way throughout all of 2021 and now by email or via Twitter – I would love to wish you a very Happy New Year – may 2022 keep bringing you happiness, success and good health. Enjoy the New Year‘s Eve celebrations, and see you again on Jan 03, 2022! Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook S&P 500 consolidation is still shaping up finely – and does so on solid internals. Particularly the tech resilience is a good omen. Credit Markets HYG could have indeed declined some more, but didn‘t. While I‘m not reading all too much into this signal individually, it fits the (still bullish) mozaic completed by other markets on my watch. That‘s the strength of intermarket analysis. Gold, Silver and Miners Gold and silver got on the defensive, but the bears didn‘t get too far – and the chance they could have, wasn‘t too bad. Rising yields were though countered by the declining dollar. Crude Oil Crude oil is likely to pause today, and will rally again once risk-on returns broadly, including into credit markets. For now, backing and filling above $76 is my leading very short-term scenario – Monday though will be a fresh day. Copper Copper is pausing, but the downswing didn‘t reach far, and was bought relatively fast. More consolidation above $4.40 looks likely, and it would come with a generally bullish bias that‘s apt to surprise on the upside. Similarly to precious metals though, patience. Bitcoin and Ethereum Bitcoin and Ethereum are staging a daily comeback, and as long as mid-Dec lows don‘t come in sight again, crypto prices can muddle through with a gently bullish bias. Summary Santa Claus isn‘t willing to give much ground, and the table is set for this nice rally to modestly continue today – somewhere more pronouncedly (S&P 500, cryptos) than elsewhere (commodities and precious metals). I‘m still looking for a positive first day of 2022 trading to help make up for end of this week‘s headwinds – it has been great that the bears couldn‘t find more strength yesterday. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.
(WETH) Wrapped Ether Explained. What Is It?

ETH Price (ETH To USD) To Decrease Even More Than Recently?

FXStreet News FXStreet News 19.01.2022 16:02
Ethereum price is still under pressure from the red descending trend line. ETH price is set to break $3,018, bringing the price below $3,000. Expect a further continuation to go hand-in-hand with current financial market sentiment. Ethereum (ETH) price is cracking under the strain and targeting $3,000, with the last line of defense at $3,018 under tremendous pressure from bears. The overall downtrend, dictated by the red descending trend line, and current global market headwinds are only contributing further to downside momentum. Expect a break towards $2,695 before analysts start to speak about a break below $2,000. Ethereum price needs to defend $2,695 to avert a 45% decline Ethereum price is flashing red warning lights all over the place as bears prepare to bomb the $3,000 barrier and price action starts to drill down on the last line of defense at $3,018. Although the area is a historical level and the monthly S1 support level falls in line with this area, it is set to probably break anyway as the mix of the established downtrend and global market headwinds is likely to be too much to bear. The Relative Strength Index (RSI) is close to being oversold; it could still firmly push beyond this level as it already traded around the area back on January 08. The next level of interest for bulls, which they are likely to defend tooth-and-claw, is $2,695, which provided support around September 21 and acted as entry-level for a 75% rally. With the RSI firmly in the oversold area, this should see some pickup in demand on the buy-side. If demand is not there and bulls are reluctant to engage with large demand sizes, expect a break that would see a rapid flood of selling pressure, with the target set to $2,000 as not many elements are in between to provide solid support. ETH/USD daily chart Bulls could sweat out the current market correction and easily make a U-turn once global markets start to return green numbers. A shift in sentiment would easily see Ethereum price bounce off $3,018 and touchback at $3,391. In case ETH should close above that level, it would be set to break out of the red descending trendline, reversing the downtrend, with even more investors and bulls then joining the rally, back up towards $4,000.00.
Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?

Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?

Binance Academy Binance Academy 19.04.2022 12:53
TL;DR Immutable X is a layer-2 scaling solution for NFTs on Ethereum. It offers instant trade confirmation and near-zero gas fees for minting and trading NFTs. Users can easily create and trade NFTs without compromising the security of their assets. Immutable X uses an engine called Zero-Knowledge Rollup to achieve scalability. It can facilitate up to 9,000 transactions per second. Immutable X’s shared global NFT order book can efficiently enhance NFT liquidity and increase their trading volume. NFTs can be bought and sold on any marketplaces built on Immutable X. IMX is an ERC-20 utility and governance token. It’s used to pay for transaction fees and incentivize users and developers on Immutable X. Token holders can earn rewards through staking and participating in the platform's governance. Learn more on Binance.com Introduction Trading and minting NFTs on Ethereum can be expensive, especially during times of high traffic. Users need to pay higher gas fees to have their transactions confirmed quickly. It’s also common for minting transactions to fail, causing significant losses. Article By Binance: (APE) ApeCoin - What Is It? BAYC, MAYC And BAKC Explained| FXMAG.COM What is Immutable X? Immutable X is a layer-2 scaling solution for non-fungible tokens (NFTs) on Ethereum. It aims to improve Ethereum’s scalability and user experience. Immutable X was founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly. It offers instant transaction confirmation and near-zero gas fees for minting and trading NFTs. Users can easily create and trade ERC-721 and ERC-20 tokens at lower costs without compromising the security of their assets. How does it work? At the core of Immutable X is a scaling technology called Zero-Knowledge Rollup (ZK-Rollup), which is a layer-2 protocol for validating transactions on the Ethereum blockchain. Instead of adding every transaction data to the blockchain, ZK-Rollup batches hundreds of transactions into a single zero-knowledge proof known as the zk-STARK proof. Zk-STARK stands for zero-knowledge succinct transparent arguments of knowledge. It’s a verification method used to prove possession of certain knowledge without revealing any information about it. It can provide Immutable X transactions with increased levels of privacy and security.  After batching the transactions, the proof is submitted to the blockchain and verified by a smart contract. The ZK-Rollup smart contract maintains all transaction details on layer 2, so that the proof can be quickly verified as they don’t contain the complete data of every transaction. The computing and storage resources required for validating a block will be lower too. This is how Immutable X can facilitate up to 9,000 transactions per second (TPS) with significantly reduced gas fees. For the end-users, Immutable X transactions have zero gas fees. Another unique feature of Immutable X is a set of powerful REST APIs that can simplify complex blockchain interactions NFTs users trade or mint on Immutable X are 100% carbon-neutral. For example, minting 8 million NFT trading cards for the play-to-earn game Gods Unchained would consume approximately 490 million kWh (490 MWh) on Ethereum. With ZK-Rollup compressing the data required for minting, Immutable X only used 1,030 kWh to mint the same amount of NFTs, which is 475,000 times less energy consumption. The minuscule energy consumption remaining is offset with carbon credits. Article By Binance: Altcoins: Harmony (ONE) - A Blockchain Project Explained| FXMAG.COM Another unique feature of Immutable X is a set of powerful REST APIs that can simplify complex blockchain interactions. Users can create and transfer NFTs easily via API calls without having to interact directly with smart contracts. Combined with Immutable X’s simple software development kits (SDKs), developers can integrate the APIs and Wallet to their platforms easily. This will allow them to build NFT projects, such as play-to-earn games, in just a few hours rather than weeks.  To facilitate a third-party NFT marketplace ecosystem, Immutable X provides a global order book that allows NFTs to be bought and sold on any marketplace that implements their scaling solutions. This means that orders created in one marketplace can be filled in another, effectively increasing the trading volume and liquidity of NFTs. Immutable X also supports all desktop Ethereum wallets. Users can seamlessly trade NFTs on different NFT-enabled crypto wallets without moving their assets across networks. What is IMX? IMX is the native token of Immutable X. It’s an ERC-20 utility and governance token with a 2 billion total supply. IMX is used to pay for transaction fees and incentivize users and developers on Immutable X. They can earn IMX tokens by contributing to the platform’s growth, such as trading NFTs and building applications.  As a utility token, IMX allows token holders to earn rewards through staking in reward pools. They can also participate in the governance of Immutable X by submitting and voting on community proposals. The more IMX coins they hold, the greater their voting power.  Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun How to buy IMX on Binance? You can buy Immutable X (IMX) on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and click [Trade]. Select either the classic or advanced trading mode to start. 2. Search “IMX” to see the available trading pairs. We will use IMX/BUSD as an example. 3. Go to the [Spot] box and enter the amount of IMX you want to buy. In this example, we will use a Market order. Click [Buy IMX] to confirm, and the purchased IMX will be credited to your Spot Wallet.     Closing thoughts Immutable X leverages layer-2 scaling technology to bridge the gaps in trading NFTs on Ethereum. It creates a platform for NFT businesses to grow, including play-to-earn games and marketplaces.
Altcoins Skyrocketing! Solana (SOL) Up Ca. 5.6%, Polkadot (DOT) +4.9% and Shiba Inu Is Launching (SHIB/USD)

Altcoins Skyrocketing! Solana (SOL) Up Ca. 5.6%, Polkadot (DOT) +4.9% and Shiba Inu Is Launching (SHIB/USD)

Rebecca Duthie Rebecca Duthie 19.04.2022 14:16
Summary: Solana is seeing price increases reflecting the current bull market. SOLANA Up almost 5.6% As of today the price of Solana Crypto token is up by 5.6%. The market is in bull at the moment, meaning that investors are confident. The current market position along with increasing investor confidence in cryptos thanks to the UK announcing its plans to regulate stable coins, could be possible reasons for the rise in the value of the coin as of today. Solana (SOL) Price Chart Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun POLKADOT Up by almost 4.9% Since the announcement last monday by the U.K’s treasury finance arm to regulate stable coins, like SOL, the price of DOT has increased. The market and investors would welcome such an announcement to regulate the digital currency world. We should see the price of DOT continue in this direction in the coming days. Polkadot Price Chart Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM SHIBA INU On the Rise As of this morning, the price of SHIBA INU increased by 3.8%. The SHIBA INU coin has recently been listed on the Robinhood trading platform, we saw last week that the value of this coin saw big increases in price as a result of Robinhoods announcement. If we compare how the values of other cryptos went after being listed on Robinhood, we can probably predict the direction of the SHIBA INU price. SHIBA INU Price Chart Sources: Finance.yahoo.com, cointelegraph.com
Weekly Crypto Market Analysis With Geco.one - 19.04.2022

Weekly Crypto Market Analysis With Geco.one - 19.04.2022

Geco One Geco One 19.04.2022 14:58
Bitcoin has fallen by over $ 9,500 in recent days by nearly 20%. Such a significant depreciation made the quotations of the oldest virtual currency drop below several significant support lines, the last two of which are the horizontal level of $ 42,200 and the upward trend line slightly below. Thanks to Monday's rebound of BTC, we are witnessing a re-test of the previously broken upward trend line, the lower boundary of the upward wedge formation, which we have already mentioned several times in the last weeks. The emergence of a more significant supply response here could signal a potential rejection of the track currently being tested, which would indicate a potential for further declines towards $ 37,000 or even below $ 35,000. Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM The current situation on the Ethereum quotes is also very interesting. The exchange rate of this cryptocurrency has recently dropped by nearly $ 700, which was almost 20%. This depreciation pushed the ETH back to around $ 3,000, one of the most recent resistance levels. It is noteworthy that for several days this market has been moving in a horizontal trend between $ 2,980 and $ 3,150. The fact that systems of this type are usually corrective formations may be of significant importance here, which in practice means that the quotes more often break out of them in the direction consistent with the previous move. If this were also the case, the ETH price would drop below $ 2,980, which in turn would threaten its further depreciation towards the upward trend line below $ 2,800. The following levels of support are located in the vicinity of where a greater demand response could appear, which could initiate another upward movement The current situation on Solana's trading is also very similar. The exchange rate of this cryptocurrency has recently dropped by over 34%, thus returning below the level of $ 105.50. For several days the market has been consolidating slightly below the defeated support (now resistance). If only this zone is rejected, we would expect the sell-off to continue, which could return SOL to around $ 88 or down further to $ 79. The following levels of support are located in the vicinity of where a greater demand response could appear, which could initiate another upward movement. Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM Looking at the Avalanche quotes, we notice that the price of this cryptocurrency has dropped by more than 30% at the same time. The sell-off stopped only near the upward trend line, where there was a demand reaction on Monday. However, there are many indications that even if this support were rejected, the AVAX rate would only increase around the previously defeated support (now resistance) of $ 83. Therefore, the potential for short-term increases seems to be very limited. It is noteworthy in this case that the price of this cryptocurrency was between the horizontal resistance and the upward trend line, which is key support. These two constraints form an ascending right triangle. From a purely technical point of view, it is technically neutral, which means that the market can break both up and down, and only the direction of the break will signal a future trend. Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun A breakout over the top could open the door to further gains as high as $ 100. On the other hand, a drop below the upward trend line would indicate a potential for further depreciation to the $ 54 region. *Subtitles for the YouTube video are available in all languages
ETHER Hitting $5000!? Altcoins: (ETH) Ethereum - Five bullish signals that suggest Ethereum price could hit $5,000

ETHER Hitting $5000!? Altcoins: (ETH) Ethereum - Five bullish signals that suggest Ethereum price could hit $5,000

FXStreet News FXStreet News 19.04.2022 16:36
Ethereum price is stuck trading between the 50-, 100- and 200-day SMAs, lacking volatility. A triple bottom setup around $2,652 could be the key to triggering an 85% upswing to retest the all-time high at $4,868. A three-day candlestick close below $2,439 will invalidate this outlook and potentially trigger a crash to $1,706 or lower. Ethereum price has been on a downswing since its all-time high in November 2021, but the development of recent events suggests that a change is coming. While there could be a temporary drop, a massive upswing is likely to begin afterward.   Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM Ethereum price at a junction Ethereum price set a swing low at $2,652 on September 19 and rallied 83% in under two months to set an all-time high of $4,868. This impressive upswing was followed by a 55% downswing that pierced the $2,652 swing low. These two touches around the same level could be foreshadowing a triple bottom setup. For this technical formation to be complete, ETH needs to slide lower by 13% and tag the $2,652 support level again. This move will complete the pattern and reverse the trend favoring bulls. In such a case, Ethereum price is likely to make a run at the 50% retracement level at $3,287. However, investors need to exercise caution around the 200-day Simple Moving Average (SMA) at $3,492 and the $4,000 psychological level, as Ethereum price might face headwinds there Clearing the midpoint and flipping it into a support level will open the path for a move toward the range high at $4,868. In total, this run-up would constitute an 85% ascent and is likely to extend to the $5,000 psychological barrier.   Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM However, investors need to exercise caution around the 200-day Simple Moving Average (SMA) at $3,492 and the $4,000 psychological level, as Ethereum price might face headwinds there. Such a move is likely to push the Relative Strength Index (RSI) lower to the 38.16 level. The last two times RSI tagged this level was in June and July 2021, when ETH was forming a base that would eventually lead to a 185% gain. Therefore, the retracement forecasted by the technical perspective also supports a retest of the 38.16 level for RSI, hinting at a bullish outlook. ETH/USDT 1-day chart Supporting this optimistic outlook for Ethereum price is the exchange net position change indicator that tracks the 30-day outflow of ETH. Currently, this index shows that nearly 94,000 ETH has moved out of centralized entities’ wallets, suggesting a reduction in the sell-side pressure. Interestingly, this is the sixth time such a massive outflow has occurred, which in turn reveals the importance of this metric. ETH exchange net position flow.   Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun Furthermore, the number of one-hour active addresses on the Ethereum blockchain has hit a new all-time high at 60,330. This uptick suggests that new users or investors are interacting with the ETH blockchain and is considered a bullish indication. ETH 1-hour active addresses Lastly, the long-term bullish outlook for Ethereum price is perfectly portrayed by the supply of ETH present on exchanges. This level has been in a downtrend since July 2020 and has slumped from 29.69 million to 14.96 million, representing an 11.73 million outflow of ETH in less than two years. This development suggests that more investors are disinclined to sell and are moving their holdings to cold wallets or to DeFi platforms to earn interest, which indicates that they are optimistic about the performance of Ethereum price. ETH supply on exchanges A three-day candlestick close below $2,439 will invalidate this outlook by producing a lower low. In such a case, ETH bears could seize control and trigger a 30% crash to $1,706, which will allow market makers to collect the sell-stop liquidity.
FieryTrading talks Solana (SOL) - November 28th

Altcoins' Rally: Solana (SOL) Soars Even More, DOT and SHIBA INU Do The Same!

Rebecca Duthie Rebecca Duthie 19.04.2022 22:20
Summary: Solana (SOL) prices went up even further today. DOT and Shiba Inu prices have fallen but are still seeing an overall increase. Article on Crypto: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM (SOL) Solana Up by 0.5% from this morning Since this morning, Solana price has increased by a further 0.5%. The growth we are seeing in SOL may just be the price recovering from its fall in March regarding the Fed’s finance announcements along with the increased market trading volume. Although we may continue to see these increases in the coming days, it cannot be ruled out that SOL has a long way to go to regain its pre-2022 values. Solana (SOL) Price Chart Polkadot (DOT) price decreasing since this mornings 4.6% The price of POLKADOT (DOT) has fallen by more than 1% since this morning, however the price of this coin is still in the green. The price fall could be reflecting the current market sentiment and the investors’ bearish attitude towards the marker in general. Polkadot Price Chart Related article: Altcoins Skyrocketing! Solana (SOL) Up Ca. 5.6%, Polkadot (DOT) +4.9% and Shiba Inu Is Launching (SHIB/USD)   Shina Inu (SHIB) Seeing an overall increase. Since this morning, SHIBA INU token is still in the green, however the growth rate has decreased slightly. The SHIBA INU coin has recently been listed on the Robinhood trading platform, despite this fact, SHIBA is still not performing as investors had hoped, this may be due to the timing of the listing being around the similar time of the Feds announcements. The future of this coins value is uncertain at this point. SHIBA INU Price Chart Sources: Finance.yahoo.com
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Surprising Investement Of Epic Games! Bored Ape Yacht Club (BAYC) In Cinema!?

Crypto.com Accelerate the... Crypto.com Accelerate the... 19.04.2022 21:26
US inflation comes in hotter at 8.5%, with rate hikes likely to continue into 2023. Epic Games raise $2B to fund the Metaverse. Bored Ape Yacht Club is set to create a film trilogy. APR 18, 2022 Key Takeaways The Bureau of Labor Statistics reported headline inflation for the USA at 8.5%, above the Dow Jones estimate of 8.4%. To reduce inflation, the Federal Reserve has begun raising interest rates and will continue to do so into 2023.  The Bank for International Settlements (BIS) released a study on how central bank digital currencies (CBDCs) can play a role in financial inclusion. The range of topics included using CBDCs as a catalyst to innovate and also to serve as a complement to existing systems. The popular NFT collection is set to release a trilogy film. Also, Bored Ape Yacht Club (BAYC) creator Yuga Labs has teamed up with Superplastic to create vinyl art collectibles based on the collection. The general price, volume, and volatility indices were mixed at -5.77%, -8.27%, and +23.23% respectively. Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun   Highlights Bank of Japan official says Digital Yen won’t be used to achieve negative interest rate Bank of Canada using quantum computing to simulate crypto adoption scenarios Central Bank of Brazil confirms it will run a pilot test for its CBDC this year Institutional Asset Manager enlists Fireblocks to help with crypto security Fortnite creators Epic Games raise $2B from Sony and LEGO to fund Metaverse plans Pantera Capital set to close $1.3B Blockchain fund BlackRock to handle Circle’s USDC cash reserves as part of $400M funding round Ava Labs raises $350M at $5.25B valuation: Report A16z leads $4M seed round for Web 3 recurring payments startup AMC adds Dogecoin, Shiba Inu payments to mobile app Polygon pledges $20M to fund its carbon negative initiative Opera expands crypto browser to iOS for access to 9 Blockchain ecosystems Check the latest prices on Crypto.com/Price. Market Index Tokens     DeFi Index Tokens     Other Tokens     Source: crypto.com
Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

Swapping Visa And Mastercard For Solana (SOL)!? Crypto Revolution? Bitcoin (BTC) Has Jumped Again, Ether (ETH) Heading To $5000! Ripple (XRP) Almost 1% Down

Alex Kuptsikevich Alex Kuptsikevich 20.04.2022 08:31
Bitcoin rose 1.4% on Tuesday, ending the day around $41,300 and remaining near that mark on Wednesday morning. Ethereum added 1.3% to $3080 in the last 24 hours, XRP corrected 0.9% to 0.766, and other top ten altcoins gained 0.7% (BNB) to 4.9% (Terra). Bitcoin on Tuesday tested 8-day highs above $41,700 on the back of rising US stock indices, which strengthened for a second straight day Total crypto market capitalisation, according to CoinMarketCap, rose 1.3% overnight to $1.92 trillion. Bitcoin's dominance index was little changed, remaining at 41.0%. By Wednesday, the Cryptocurrency Fear and Greed Index remained at 27 points (fear). Bitcoin on Tuesday tested 8-day highs above $41,700 on the back of rising US stock indices, which strengthened for a second straight day. Article on Crypto: Altcoins Showing Promising Growth - Take a Look at Solana (SOL), POLKADOT (DOT) and SHIBA INU (SHIB-USD)| FXMAG.COM Correlation between BTC and the Nasdaq Composite Index has been highest since July 2020 Terra (LUNA) gained 5.5 per cent as Terra USD (UST) moved up to third place in terms of capitalisation among stablecoins. Chamath Palihapitiya, CEO of Social Capital and Virgin Galactic, said Solana (SOL) could capture market share in traditional financial services by challenging Visa and Mastercard. SOL is up 4.6%. The creators of the largest anonymous cryptocurrency, Monero, have confirmed that a 15th network hardfork is set for July 16. "It is better not to spend BTC but invest in it long-term" Jack Mallers, CEO of payment service Strike, said that bitcoin as a payment method is superior to all other systems. Nevertheless, it is better not to spend BTC but invest in it long-term. The US Secret Service's Office of Investigations (USSS) has disclosed that since 2015 the service has seized more than $102 million in digital assets from criminals. Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun The Financial Action Task Force (FATF) believes that nearly half of the world's countries are not complying with anti-money laundering and counter-terrorist financing (AML) regulations. FATF has pledged to monitor member countries, including the US, China and the European Union.
Tepid BoJ Stance Despite Inflation Surge: Future Policy Outlook

DOGE About To Increase By 35%!? Altcoins - Dogecoin price is alive and well-positioned for 35% gains

FXStreet News FXStreet News 20.04.2022 17:01
Dogecoin price sees the 55-day SMA underpins bullish action. DOGE price set to jump towards the 200-day SMA, playing the range. With that move, Dogecoin price would gain 35% of value to $0.1800. Dogecoin (DOGE) price jumps as tailwinds in Europe overpower headwinds from the U.S., with bulls storming out of the gate and booking a three-day winning streak. The rally started on Easter Monday with the 55-day Simple Moving Average (SMA) and monthly pivot acting as entry levels, returning 10% of value to investors. In a range play towards the 200-day SMA, coinciding with the monthly R2 resistance, a 35% trade is a possible outcome for this rally. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events DOGE price set to add $0.4 of appreciation Dogecoin price is rallying into its third day today within a rally that started on Easter Monday, where intelligent bulls used the limited trading volume to ramp up price action quite quickly. With markets coming back in on Tuesday, plenty of investors jumped into the spotted trade and could still comfortably place their stops below the 55-day SMA and the monthly pivot. Additionally, the current dollar weakness is helping to open up some more room and enlarge any intraday gains. This evening TESLA (TSLA) will come out with earnings after the closing bell DOGE price at first will face $0.1594, near $0.1600, with the monthly R1 resistance as the historical level as a double issue. From a trade management perspective, this would translate into a 1-to-1 trade setup with a 10% stop loss against 10% possible gains to be booked for investors entering at current levels around $0.1450. Should the dollar further back off and positive sentiment in the market pickup further, expect to see that trade turn into a 1-to-2.5 trade setup with a 10% stop loss and a possible 25% gain entering at current levels, with the profit target set at $0.18, which coincides with the monthly R2 and the 200-day SMA as double and robust resistance to the upside. DOGE/USD daily chart Read next: Altcoins' Rally: Solana (SOL) Soars Even More, DOT and SHIBA INU Do The Same! | FXMAG.COM This evening TESLA(TSLA) will come out with earnings after the closing bell, one of the most significant components in the NASDAQ. Seeing the correlation between the NASDAQ and cryptocurrencies, another setback after the significant 25% drop from NETFLIX (NFLX) could trigger a panic trade in markets, with investors quickly unwinding their positions at any price. That would trigger a drop below the 55-day SMA towards $0.1242.
The Forex Market Is Under Strong Pressure From Geopolitical Events And Statistics

How To Hedge Against Inflation? Crypto? Is Bitcoin (BTC) The Answer?

Conotoxia Comments Conotoxia Comments 20.04.2022 21:46
Last year alone, the number of investors in the cryptocurrency market may have increased by nearly 70 percent. - This is according to the "2022 Global State of Crypto Report" published by Gemini Exchange. The report was created after surveying 29,293 adults in 20 countries. The age of the respondents ranged from 18-75, and the survey was limited to those earning more than $14,000 per year. The report helps understand the global adoption of cryptocurrencies among retail investors. It shows that 41 percent of those surveyed made their first investment in cryptocurrencies in the past year, and overall, the total number of investors has increased by about 70 percent in 2021 alone. Key excerpts from the report: More than half of cryptocurrency owners in Brazil (51 percent), Hong Kong (51 percent) and India (54 percent) started in 2021. Among high-income respondents in developed countries, cryptocurrency ownership is trending upward, with 40 percent or more in the United Kingdom, Germany and France reporting cryptocurrency ownership. Regulation is causing concern around the world. Among those who do not own cryptocurrencies, 39 percent in Asia Pacific, 37 percent in Latin America and 36 percent in Europe say there is regulatory uncertainty surrounding cryptocurrencies. Inflation drives adoption Another important finding is that inflation appears to be a key driver of investor adoption. One reason to pay attention to the Gemini survey is that it asked questions about inflation. The report highlights that countries that have recently experienced hyperinflation tend to agree with the statement "cryptocurrencies are the future of money." Respondents from countries that experienced a 50 percent or higher devaluation of their currency against the U.S. dollar over the past 10 years were more than 5 times more likely to say they plan to purchase cryptocurrencies in the coming year than respondents from countries that experienced currency devaluations of less than 50 percent, including South Africa, Mexico, India and Brazil. In the latter country, where the local currency has been devalued by more than 200 percent against the U.S. dollar, 41 percent of respondents own cryptocurrencies. In the U.S., 40 percent of cryptocurrency holders see them as a hedge against inflation. If inflation continues to be an issue around the world, it seems likely that this trend could increase In general, the higher a country's inflation rate, the higher the adoption rate of cryptocurrencies can be. If inflation continues to be an issue around the world, it seems likely that this trend could increase. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The Bitcoin Fall Will Likely Continue In The Future

Looking For The Best Crypto Exchange? Where To Buy Bitcoin? Gate.io Becomes The Second Largest Crypto Exchange By Trading Volume

Finance Press Release Finance Press Release 21.04.2022 08:58
Gate.io, one of the oldest cryptocurrency exchanges in the world, has become the second largest crypto exchange by trading volume according to data from CoinGecko, securing its spot as one of the leading exchanges worldwide GateChain, its native blockchain ecosystem and Gate Ventures, its venture capital investment division Founded in 2013, Gate.io has become one of the world’s leading cryptocurrency exchanges with a wide range of products including Startup, which allows users to invest in projects early on; NFT Magic Box, which allows the creation and trading of NFTs; GateChain, its native blockchain ecosystem and Gate Ventures, its venture capital investment division. Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events Platform surpassing 10 million users in early 2022 Gate.io’s wide range of products and services have led to a rise in the platform’s popularity, with the platform surpassing 10 million users in early 2022, pushing it to become the second largest crypto exchange in the world based on daily trading volume according to data from CoinGecko. The company offers over 1,400 tradable cryptocurrencies on its spot market “This is another remarkable milestone for us at Gate.io as we approach our 9th birthday. Our unwavering commitment to providing our users with a safe and secure platform with a comprehensive suite of products and services remains the key to our exponential growth over the last couple of years, and we have no plans on slowing down,” said Marie Tatibouet, Chief Marketing Officer at Gate.io Related article: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex| FXMAG.COM The company offers over 1,400 tradable cryptocurrencies on its spot market, which has seen daily trading volume surpass $3 billion, securing its spot as the second largest exchange in the world. Gate.io has over 10 million users worldwide and prides itself on having the widest variety of tradable assets of any leading exchange. About Gate.io Established in 2013,  Gate.io is one of the oldest, leading cryptocurrency exchanges. Gate.io offers most of the leading digital assets and has over 10 million registered users across the world. It is consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko, and has been verified by the Blockchain Transparency Institute (BTI). Additionally, Gate.io has been given a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021. Besides the main exchange, Gate.io also offers other services such as decentralized finance, research and analytics, venture capital investments, wallet services and more. Disclaimer: Gate.io may not provide its full scale of services in certain markets and jurisdictions, and may restrict or prohibit the use of all or a portion of the services in compliance with local regulations. For the latest list of all the restricted locations, please read the User Agreement, “Section II Eligibility” via https://www.gate.io/docs/agreement.pdf.
Terraform Labs - Liquidity Pool, SINGLE - dApp Available - DeFi Update (28/03-03/04/22)

Altcoin: IOTA, Litecoin (LTC) and Cardano (ADA) Threatened? Crypto Markets Lie in The Hands of Regulations and Government Policies?

Rebecca Duthie Rebecca Duthie 20.04.2022 22:39
Summary: The general downward price trend of the crypto market over the past week. The future of cryptocurrency success may lie in the hands of government policies and regulations. Litecoin (LTC) future values are expected to rise based on current trader sentiment. Since this morning the trading volume of Litecoin (LTC) decreased slightly, however we saw the price of the coin fall throughout the day today, this shows us that the price of LTC is not consistently supported or dependent on the trading volume. In general the cryptocurrency market experienced a decline in prices over the past few days and LTC has reflected the same outlook. However, this decline may not continue for much longer due to the changes in crypto regulations and government policies. LTC-USD Price Chart Related article: Japanese Yen (JPY) Weakens Against The Dollar, USD/CAD Stable And The Inevitable Strengthening Of The USD, IMF/World Bank Events IOTA price follows the same downward trend as other cryptos on the market. The price of IOTA fell during the day today. The downward price trend of this coin has followed the same trend as the general crypto market over the past few days. We can probably expect to see this price rise as the government policies and regulations around cryptos are finalized. IOTA USD Price Chart  Related article: Monetary Policy Drives EUR/USD, The Future of the EUR/GBP Awaits the Bank Of England's Speech - Good Morning Forex| FXMAG.COM Cardano (ADA) price is still coming down off it's all-time high. Over the past weeks ADA has been facing a continuous downward trend reflecting a bearish attitude toward the coin, however in light of the general downward price trend of the crypto market, this outlook is unsurprising. ADA Price Chart Sources: Finance.yahoo.com, namecoinnews.com
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Altcoins: (BNB) Binance Coin Jumps On The EU Sanction Bandwagon

Rebecca Duthie Rebecca Duthie 21.04.2022 20:01
Summary: Binance places sanctions on certain Russian account holders. Terra’s LUNA coin topples Binance. Despite today's drop, BRISE is still on an overall increase. (BNB) Binance Price drops today. Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM   The overall price of Binance has decreased throughout trading today. On Thursday Binance announced the removal of its services for Russian coin holders of certain accounts that hold any value of more than 10000 Euro, the move came in an effort to comply with EU sanctions on Russia. The affected accounts will only be allowed to withdraw their investments. Binance Coin Price Chart Terra’s LUNA coin price continues to rise. Terra’s LUNA coin has increased in price today, continuing on the upward trend the coin has been following for the past couple of days. This price surge came on monday as a result of the algorithmic coin taking over from Binance (USD) as the third largest stablecoin (based on circulation). Terra USD Price Chart Related article: Altcoins: IOTA, Litecoin (LTC) and Cardano (ADA) Threatened? Crypto Markets Lie in The Hands of Regulations and Government Policies? | FXMAG.COM Bitgert (BRISE) price on the rise the past week As of today, the price of Bitgert (BRISE) has decreased, however looking at the price of the coin over the past week it has been on the rise. The coin's value in the future will be dependent on market sentiment and current market conditions. Bitgert (BRISE) Price Chart Sources: finance.yahoo.com, coindesk.com
Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

Record-Braking (APE)!? How ApeCoin entry to the Metaverse can send APE price to new all-time highs

FXStreet News FXStreet News 21.04.2022 16:47
ApeCoin price is likely to retrace to stable support levels after a 60% ascent. This downswing will set a base around $13.59 before exploding to a new all-time high at $22.05. A three-hour candlestick close below $12.53 will invalidate the bullish thesis for APE. ApeCoin price is undergoing a retracement after the massive run-up triggered on April 18. This move is likely going to allow bulls to recuperate for the next leg that will shatter through the current ceiling and set a new all-time high. The extremely optimistic outlook makes sense considering the rumor mill that has been churning since April 20. The talk of the crypto twitter is that APE tokens will be a medium through which holders can purchase land in a metaverse that is being launched by YugaLabs, the owner of the popular Bored Ape Yacht club. Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM ApeCoin price readies for next move ApeCoin price set a swing low at $9.52 after crashing 45% from its all-time high. This downswing set the lower limit and was followed by a 62% run-up that set a local top at $15.53. Since this range was established, APE has been traversing inside it. On April 18, ApeCoin price kick-started a 62% upswing that pushed it through the previous all-time high at $17.46 and set a new one just above it at $17.53. Since this peak, investors have been booking profits, leading to a retracement. So far, ApeCoin price has dropped 16% and is likely to continue heading south until it encounters the $13.59 support level. If the buying pressure picks up, it will indicate that the bulls are interested in accumulating APE at a discount. Read next: Unexpectedly Gold Price (XAUUSD) Falls, Canada And Chicago - Weather Makes Wheat Futures Fluctuate. The Price Of Palladium - Industrial Activity Is Taking Strain | FXMAG.COM Therefore, a foothold formation here could be the key to catalyzing the next leg that pushes ApeCoin price beyond the current all-time high and make a run at the $20 psychological level. Using the trend-based Fibonacci extension, the next target at the 100% extension is $22.05. This move from $13.59 to a new all-time high at $22.05 would constitute a 61% gain and is likely where the top will form for APE. APE/USDT 3-hour chart On the other hand, if Bitcoin price continues to descend, there is a good chance ApeCoin price will follow suit. In such a case, APE is likely to slide lower and retest the 50% retracement level at $12.53. Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM This development will provide sidelined buyers another chance at accumulating the altcoin. However, a three-hour candlestick close below $12.53 will invalidate the bullish thesis for ApeCoin price and suggest the possibility of a retest of the range low at $9.52.
Binance Academy: Meme Coins - What Are They? Dogelon Mars (ELON), Dogecoin (DOGE), Shiba Inu (SHIB), SafeMoon (SAFEMOON), Kishu Inu (KISHU) And AKITA

Binance Academy: Meme Coins - What Are They? Dogelon Mars (ELON), Dogecoin (DOGE), Shiba Inu (SHIB), SafeMoon (SAFEMOON), Kishu Inu (KISHU) And AKITA

Binance Academy Binance Academy 22.04.2022 10:22
Disclaimer: This article is for educational purposes only. Binance has no relationship to these projects, and there is no endorsement for these projects. The information provided through Binance does not constitute advice or recommendation of investment or trading. Binance does not take responsibility for any of your investment decisions. Please seek professional advice before taking financial risks.   TL;DR In 2021, the meme coin market saw exponential growth, especially the dog-themed meme coins. As of November 2021, one of the most popular “breeds” is Dogecoin (DOGE) and its rival Shiba Inu (SHIB).  Meme coins are meme-inspired cryptocurrencies. They tend to be highly volatile compared to major cryptocurrencies like bitcoin (BTC) and ether (ETH). This is likely because meme coins are heavily community-driven tokens. Their prices are usually influenced by social media and online community sentiments. This often brings a lot of hype but also FOMO and financial risk. While it’s true that some traders became rich with meme coins, many lost money due to market volatility. Binance Academy: (APE) ApeCoin - What Is It? BAYC, MAYC And BAKC Explained| FXMAG.COM Introduction Some say 2021 was the year of “dogs” for crypto. The doggy duo Dogecoin (DOGE) and Shiba Inu (SHIB) led the meme coin pack and skyrocketed in price and market capitalization. As of November 2021, DOGE has gained over 8,000% since the beginning of the year and is ranking #9 by market capitalization on CoinMarketCap. Its competitor, SHIB, has pumped more than 60,000,000% since January. Learn more on Binance.com What are meme coins? Meme coins are cryptocurrencies inspired by memes or jokes on the Internet and social media. The first meme coin created was Dogecoin (DOGE). Launched in 2013 as a parody, DOGE was inspired by the popular Doge meme of a Japanese Shiba Inu dog. Meme coins tend to be highly volatile. They are mainly community-driven and can gain popularity overnight due to online community endorsements and FOMO. Still, their price can also slump unexpectedly when traders turn their attention to the next meme coin. Another characteristic of meme coins is that they often have a huge or unlimited supply. For example, Shiba Inu (SHIB) has a total supply of 1 quadrillion tokens, while DOGE has no maximum supply, and over 100 billion tokens are already in circulation. As meme tokens generally do not have a coin-burning mechanism, the huge supply explains their relatively low prices. With just $1 USD, you can buy millions of meme tokens. Why are meme coins so popular? While it’s hard to define specific reasons, some say that during the COVID-19 pandemic, the crypto market grew as retail investors wanted to hedge against inflation. Meme coins also boomed amidst the hype, growing both in market capitalization and variety. Read next: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM It all started after the “meme stock” saga of GameStop (GME) and AMC Entertainment (AMC) in late 2020, where the Reddit community pumped up the prices of these shares to as much as 100 times in a few months. In January 2021, a Reddit group joked about pumping up the price of DOGE to create a crypto equivalent of GME. The trend caught on, and along with the influence of Tesla CEO Elon Musk’s tweets, DOGE price rallied. Dogecoin reached a new all-time high of $0.73 USD, with an increase of over 2,000% in five days. In May 2021, Elon Musk joked about DOGE publicly on TV, and many say it was the cause of the following price drop However, in May 2021, Elon Musk joked about DOGE publicly on TV, and many say it was the cause of the following price drop. Several traders then turned to other meme coins on the market, such as the “Dogecoin killer” SHIB. At the same time, retail investors were FOMOing into meme coins hoping to become millionaires overnight, sparking yet another meme coin rally. Another reason why retail investors find meme coins attractive is that they typically only cost a few cents or even a fraction of a cent. Technically, the low price doesn’t mean much because these coins have huge supplies. Still, holding millions of a certain meme coin feels different than holding a fraction of ETH or BTC. Traders can get thousands or even millions of DOGE, SHIB, or Akita Inu (AKITA) tokens with just a few dollars. Binance Academy: Polkadot (DOT) Explained - A Pinch Of Origins And History| FXMAG.COM Apart from the potential profits, the meme coin frenzy is also driven by their respective community sentiments. As mentioned, meme coins are inspired by popular Internet memes, intended to be fun and sometimes considered an “insider joke” for a community. Buying meme coins, in a way, is showing support for their respective community. Following the GME stock market saga, meme coin traders inspired by the Reddit group SatoshiStreetBets started a “David vs. Goliath” battle to bet against the mainstream cryptocurrencies. The crypto market in 2021 was therefore flooded with community-driven meme coins. Potential risks of investing in meme coins Meme coins might have seen exponential growth in 2021, but like all cryptocurrencies, trading and investing in meme coins carries high financial risk. First of all, the tokenomics of meme coins can be concerning. Take Bitcoin as an example. It has its blockchain, a well-written whitepaper, an established ecosystem, and a deflationary nature. We are seeing more institutional adoption of bitcoin in recent years as well. Compared to BTC, most meme coins are inflationary with no maximum supply. Their ecosystem, use cases, and fundamentals are often defined by the collective jokes of the community. Only a few meme coins were built on the technology of major cryptocurrencies. For example, DOGE’s technology was derived from Litecoin (LTC), and SHIB was built on the Ethereum blockchain.  As the meme coin market continues to grow, you should be aware that there might be projects taking advantage of the hype to scam traders Another potential risk is that meme coins are heavily community-driven and are more speculative than the larger market capitalization cryptocurrencies. This volatility constantly leads to unexpected pump and dump. The lifecycle of meme coins is generally short-lived. Their prices can rocket thousands of times from celebrity shilling or FOMO, or crash unexpectedly when the community decides to move on to the next meme coin. As the meme coin market continues to grow, you should be aware that there might be projects taking advantage of the hype to scam traders. For example, Squid Game (SQUID), a meme coin inspired by the popular Netflix show of the same name, surged over 86,000% in a week. However, the development team rug-pulled suddenly and caused the price to plummet by 99%. What’s worse is that holders were not allowed to sell their SQUID tokens. Therefore, you should always be careful and DYOR before trading or investing in meme coins. An overview of the popular meme coins Leading the meme coin market with the highest market capitalization are Dogecoin (DOGE) and Shiba Inu (SHIB). After the success of DOGE and SHIB, a large number of dog-themed meme coins entered the market and gained traction within the second half of 2021. Dogecoin (DOGE) Dogecoin (DOGE) was created in 2013 by software engineers Billy Markus and Jackson Palmer. It was inspired by the meme of a Shiba Inu dog and was intended to be a joke cryptocurrency to attract mainstream attention. As a fork of Litecoin (LTC), DOGE adopts the same Proof of Work (POW) mechanism, and it has no maximum supply. For a more comprehensive overview of DOGE, check out What Is Dogecoin?. Shiba Inu (SHIB) Shiba Inus (SHIB) is the rival of DOGE and is often referred to as the “Dogecoin killer”. SHIB is also named after a Japanese dog breed. It was created by an anonymous developer named Ryoshi in August 2020. The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens, of which 50% were burnt and donated to charity. SHIB’s ecosystem also includes a decentralized exchange, an NFT art incubator, NFTs, and an NFT game. To learn more about SHIB and its ecosystem, check out What Is Shiba Inu (SHIB)?. Dogelon Mars (ELON) Dogelon Mars (ELON) closely follows the doggy duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for his company SpaceX. ELON is a fork of Dogecoin and has a circulating supply of 557 trillion tokens. As of November 2021, ELON has surged over 3,780% since its launch in April 2021. Akita Inu (AKITA) There are many other meme coins using Japanese dog breeds as their mascots, such as Akita Inu (AKITA), Kishu Inu (KISHU), and Floki Inu (FLOKI). AKITA was heavily inspired by DOGE. It was launched on Uniswap as an ERC-20 token in February 2021. Its tokenomics is very similar to SHIB. Like SHIB’s developer Ryoshi, the AKITA team locked 50% of its total supply on Uniswap, while the remaining 50% was sent to Ethereum co-founder Vitalik Buterin. However, AKITA only has a total supply of 100 trillion tokens, which is 1/10 of the total supply of SHIB. AKITA gained traction alongside its fellow doggy coins in May 2021 and is seen by some community members as another “Dogecoin killer”. Samoyedcoin (SAMO) Samoyedcoin (SAMO) is a dog meme coin project built on the Solana blockchain. At launch, 13% of SAMO supply was airdropped to members of the community. According to their website, SAMO roadmap includes burning events, airdrop tools, a decentralized exchange (DEX), and the creation of NFTs. Samoyedcoin recently gained popularity due to a sudden increase in price. SAMO grew over 4,300% within a month. In October 2021, the price went from $0.005 to over $0.22 in roughly 30 days. Read next: Solana (SOL) - Let's Have A Look At This Altcoin| FXMAG.COM Kishu Inu (KISHU) Kishu Inu (KISHU), another canine-themed meme coin, has grown exponentially since it launched in April 2021. KISHU includes participation rewards for active users, non-fungible tokens (NFTs), and a DEX called Kishu Swap. It has been growing in popularity and recorded over 100,000 holders and 2 billion dollars market capitalization within one month after its launch. SafeMoon (SAFEMOON) Another meme coin newcomer that capitalized on the rally was SafeMoon (SAFEMOON). It is a BEP-20 token launched on the Binance Smart Chain (BSC) in March 2021. SAFEMOON rewards long-term holders by penalizing those who sell the token with a 10% exit fee, of which half of the fees will be distributed to existing SAFEMOON holders, and the other half will be burnt. It attracted retail investors’ attention after it soared in April. As of November 2021, SAFEMOON has a 9418.54% ROI, according to CoinMarketCap. How to buy meme coins on Binance? You can buy the more popular meme coins, such as DOGE and SHIB, on cryptocurrency exchanges like Binance. For other less prominent meme coins, you can go to decentralized exchanges.  Let’s take DOGE as an example. 1. Log in to your Binance account. Then, head to [Trade] at the top bar to select the classic or advanced trading page. 2. On the right side of the screen, type “DOGE” on the search bar to see a list of the available trading pairs. We will use DOGE/BUSD as an example. Click “DOGE/BUSD” to open its trading page.   3. Scroll down to the [Spot] box and enter the amount of DOGE to purchase. You can select different order types to buy DOGE. We will use a Market order in this example. Click [Buy DOGE] to confirm the order, and you will see the DOGE you purchased in the Spot Wallet.   Closing thoughts With new meme coins entering the market every day and traders hoping to replicate the profits posted by DOGE and SHIB, it is important to DYOR before committing to any meme coins. Keep in mind that meme coins are highly volatile compared to other digital currencies. Trading or investing in cryptocurrencies involves high risk. Meme coins are largely community-driven and might crash unexpectedly, so you should never invest what you cannot afford to lose. Read next: Litecoin (LTC) Explained - The Way It Works, Terms Associated With LTC| FXMAG.COM
Analysis Of Polkadot Cryptocurrency Movement

Polkadot (DOT) Has Lost 4.7%! Interactions Between Cryptomarket, Fed And Powell! Bitcoin (BTC) -2.3%, Ether (ETH) -2.4%, Terra (LunA) -0.4%

Alex Kuptsikevich Alex Kuptsikevich 22.04.2022 08:26
Powell's speech on Thursday night weighed on US markets and echoed on cryptocurrencies, leaving an emerging breakaway from a critical support line. Cryptos go down A decline in US stock indices added to the negative impact amid a speech by Fed Chairman Jerome Powell, who said he could aggressively tighten monetary policy at the May meeting. Read next: (XAGUSD) Price of Silver Vs. U.S Yields, Lumber and Corn Futures Dependent on Demand and Supply | FXMAG.COM Bitcoin has lost 2.3% to $40,700 in the past 24 hours. Ethereum is down 2.4%, while other leading altcoins in the top 10 are down 0.4% (Terra) to 4.7% (Polkadot). According to CoinMarketCap, total cryptocurrency market capitalisation fell 2.2% overnight to $1.88 trillion. Bitcoin's dominance index fell to 41.0% due to the first cryptocurrency's tight link to pressured stock markets. The cryptocurrency Fear and Greed Index fell 1 point to 26 on Friday, after three days at 27 points (fear). Read next: Unexpectedly Gold Price (XAUUSD) Falls, Canada And Chicago - Weather Makes Wheat Futures Fluctuate. The Price Of Palladium - Industrial Activity Is Taking Strain | FXMAG.COM Investors’ record profit Earlier on Thursday, Bitcoin tested the highs of the past 11 days, around $43,000. During the day, BTCUSD crossed the 50-day average, which is often an indicator of a medium-term trend, but failed to close above it. Due to pressure on the stock market, the first cryptocurrency fractured into a bullish scenario with a breakaway from the support line and a trend reversal. However, it is too early to completely write off the strength of the bulls, while the first bitcoin manages to hold above support. Read next: ECB Announcements to Possibly Tighten Monetary Policy Strengthens the Euro. EUR/USD, EUR/GBP, AUD/NZD and EUR/CHF All Increased | FXMAG.COM FxPro Analyst team emphasised that US crypto investors made a record profit of $46.9bn in 2021, followed by the UK with $8.1bn and Germany with $5.8bn. In Russia, investors earned $4.3bn. According to the Bank of Canada, most Canadians investing in bitcoin lack financial literacy. Meanwhile, more knowledgeable investors have little or no exposure to BTC.
Real Estate Tokenization!? IMF Released Global Financial Stability Report - Regulatory & Tax Update By crypto.com

Real Estate Tokenization!? IMF Released Global Financial Stability Report - Regulatory & Tax Update By crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 22.04.2022 13:47
IMF calls for a uniform crypto regulatory framework globally. Germany is the ‘most crypto-friendly country,’ says a recent report. Oman plans to allow issuance of real estate tokens. APR 21, 2022 Key Takeaways On Tuesday, The International Monetary Fund (IMF) released its quarterly Global Financial Stability Report, in which it encouraged global policymakers to implement a uniform regulatory framework for crypto.  Germany surpassed Singapore as the most crypto-friendly country in the world in a recent report from Coincub that ranks 46 countries. The report looks into countries’ crypto acceptance based on a number of factors, including ICO status, fraud prevalence, and general availability. Oman’s virtual asset regulatory framework is set to include real estate tokenization, which will allow the issuance of virtual assets such as real estate tokens for the first time. The country aims to open up real estate opportunities for local and foreign investors.  Highlights Europe’s largest electronics retailer to install bitcoin ATMs Australia’s first spot bitcoin ETF to launch next week Major crypto exchanges in India disable fiat deposits amid regulatory uncertainty El Salvador’s bid for bitcoin bonds sinking as IMF deal ‘practically dead’ BoJ official says digital yen won’t be used to achieve negative interest rate Texas, Alabama securities regulators block sales of ‘metaverse’ casino NFTs Tencent nearing launch of Digital Yuan wallet-WeChat integration New Virginia law allows state-chartered banks to custody crypto EU crypto firms protest ‘alarming’ anti-money laundering laws Portuguese regulator grants first crypto licence to a bank Regulatory arm of UAE Financial Centre releases DeFi discussion paper Alleged Hydra administrator Dmitry Pavlov reportedly arrested in Russia Bitcoin miners to face tougher penalties in Iran if they operate illegally G20’s Latest Crypto Policies * G20 countries here do not include all but only selected member states. * G20 countries here do not include all but only selected member states. G20’s Regulatory Heatmap Data as of April 2022; Source: WhiteSight G20’s Crypto Taxation   Country / Region Classification Type of Tax Tax Rate Argentina Unspecified N.A. N.A. Australia Asset Progressive Income Tax, andProgressive Capital Gains Tax (CGT) 0-45% Brazil Asset Progressive CGT 15-22.5% Canada Asset Progressive Income Tax / CGT 15-33% China (Mainland) Virtual Commodity Progressive Income Tax(for international trading) 3-45% China (Hong Kong) Digital Asset N.A. N.A. France Movable Asset Income Tax Occasional traders – Flat Tax of 30%Professional traders – BIC tax of 45%Crypto miners – BNC Tax of 45%(Effective from 2023) Germany Private Asset Income Tax 0-45% India Digital AssetFinancial Service CGTIncome TaxGoods & Services Tax (GST)Tax Deducted at Source (TDS) CGT: 30%Income tax: 30%GST: 18%TDS: 1% (from 1 July 2022) Indonesia Digital Asset CGTValue-added Tax (VAT) CGT: 0.1% (from 1 May 2022)VAT: 0.1% (from 1 May 2022) Italy Others Unspecified Unregulated Japan Property Miscellaneous Income Tax Under JPY 200K: 0%Residents: 5-55%Non-residents: Flat 20% Portugal Unspecified N.A. N.A. South Korea Property CGT 20% (Effective from 2023) Spain Assets Income Saving Tax Below EUR 50,000: 0%Otherwise: 19-26% Mexico Virtual Asset Income Tax UnregulatedResidents: 30% Netherlands Asset Wealth Tax Below EUR 50,000: 0%Otherwise: 31% Russia Unspecified N.A. N.A. Saudi Arabia Unspecified Unspecified Unregulated South Africa Asset Income Tax 18-45% Turkey Commodity Income Tax 15-40% U.K. Crypto Asset Corporation TaxIndividual Tax Corporations: 19%Individuals: 0-45% U.S. Property Short-Term / Long-Term Tax Short-Term: 10-37%Long-Term: 0-20%   * G20 countries here do not include all EU members, but selected ones only To view a full picture of G20’s cryptocurrency policies, please subscribe to Crypto.com Research’s Weekly Regulatory Update on Substack.Disclaimer: The information provided in this newsletter is for general informational purposes only. It is not intended to constitute legal or other professional advice in any way whatsoever. All information in the newsletter is provided in good faith. However, we have not verified the information independently and make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information in the newsletter. Views and opinions expressed do not necessarily reflect the view of Crypto.com or any of its officials. The information provided herein should not be relied on or treated as a substitute for professional advice. Source: crypto.com
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Important Axie Infinity News! New Season Launch Date Expectations! Metaverse's Minecraft? Move-To-Earn!?

Crypto.com Accelerate the... Crypto.com Accelerate the... 22.04.2022 15:44
Axie Infinity teases early land gameplay and is set to release Season 21 on 25 April. The Sandbox Game raises another US$400M and Snoop Dogg creates a music video entirely in the Sandbox Metaverse. Move-to-Earn game STEPN continues its momentum with Twitter follower count surging over 43% over 3 weeks to 295K. APR 22, 2022 Key Takeaways Axie Infinity’s Season 21 is expected to launch on 25 April. Origin Alpha is currently available for download on their site. Axie also teased early land gameplay in this post with harvesting, producing and crafting features. The next Origin patch will have 75 balancing changes which can be found here. Minecraft-styled metaverse game, SandBox, is set to raise US$400M of fresh funds. Rapper Snoop Dogg’s new song titled “House I Built” filmed entirely within the Sandbox Metaverse reaches 2.5M views. Move-to-Earn game STEPN released its Epic sneaker category. The game continues its momentum with Twitter follower count surging 43% over three weeks to 295K. The total market cap for GameFi tokens now stands at US$46.61B. Highlights Framework Ventures allocates half of US$400M fund to Web3 gaming Jon Goldman targets VR gaming and the Metaverse with a US$50M venture fund Korean Metaverse startup DoubleMe raises US$25M backed by Samsung Blockchain games are leading the DApp industry, says latest DappRadar report Game studio Blizzard is polling players about Crypto and NFTs Square Enix insists on integrating blockchain elements into its games Rainmaker Games launches first blockchain gaming discovery platform Game Updates AbsolutLand is open in Decentraland!  DeFi Kingdoms – New training quests in Serendale Illuvium Universe Land Sale Pegaxy Fusion update Pegaxy launches mobile app for select gamers Sorare expands with an 11th league CryptoBlades releases dynamic minting and transition details Top Gainers and Losers   Price Change (%) Infrastructure Games Guilds Top Gainers IMX (+5.85%)DAWN (+1.57%) GMT (+40.09%)ALICE (+3.89%)POLIS (+2.5%) UNIX (+1.1%) Top Losers MBOX (-9.08%)ENJ (-4.28%)GALA (-3.67%) ATLAS (-7.63%)MANA (-3.57%)AXS (-3.06%) AGV (-24.09%)GGG (-13.03%)YGG (-9.24%)       *Gaming Infrastructure tokens: ENJ, FLOW, WAXP, UOS, MBOX, DAWN, GALA, IMX*Gaming Utility tokens: AXS, MANA, SAND, ALICE, ILV, ATLAS, POLIS, GODS, GMT*Gaming Guild tokens: YGG, MC, UNIX, GGG, AGV Top Games Metrics     Top 15 Largest Tokens by Market Cap     Daily Gamers by Blockchain Source: crypto.com
FX Daily: Low Volatility Persists Amidst US Jobs Data Ripples

Skyrocketing Altcoin? Why (SHIB) Shiba Inu price is set for a 15% value increase

FXStreet News FXStreet News 22.04.2022 16:47
Shiba Inu price sees losses being paired back instantly. SHIB price overall in a wedge that looks set to break to the upside. Although still some way off, catalyst events over the weekend could trigger a preemptive breakout. Shiba Inu (SHIB) price slipped in late trading hours on Thursday after earnings shook the markets. Instead of seeing a continuation to the downside, bulls have already pared back most of the incurred losses and are back on track to test the sloping side of a wedge pattern. Add to that the fact that there is a catalyst event this weekend with the French elections, where Macron is set to win according to the polls, and price action is set to pop in favour of bulls. SHIB price set to shift to the upside over the weekend Shiba Inu price is under the pressure of the red descending trendline that kicked in on April 13. Since then, it has withstood two tests followed by a rejection to the downside. But looking from the downside, the green ascending trend line that for now only holds one test is squeezing buyers and sellers towards each other with lower highs and higher lows. SHIB price is thus in the process of an explosive cocktail once buyers and sellers are so close to one another that a simple catalyst is enough to set a spark to SHIB price to either make a big pop or nose dive move. The biggest known catalyst is the French election over the weekend, where Macron is gaining further in the polls and deepening his lead. Assuming he wins, expect to see a sigh of relief on Monday, helping cryptocurrencies to thrive in a risk-on background, where SHIB price is set to pop above $0.00002550 towards $0.00002800, returning 15% of value to your portfolio. SHIB/USD 4H-chart As with any catalyst, the predicted outcome can always surprise in the opposite direction. The French elections could send a shock through the whole political equilibrium of Europe if a far-right president was elected. In such a scenario, expect to see a drop in the euro, feeding dollar strength and, in its turn, a spillover into cryptocurrencies with downward pressure as a result. SHIB price would then drop to $0.00002350 and possibly slip below $0.00002250.  
India's RBI Keeps Repo Rate Unchanged Amid Tomato-Driven Inflation Surge

Global Crypto Market Value Fell By Over 2% Today. (Polygon) MATIC/USD, CRO (Crypto.com) and TRON/USD (US Dollar)

Rebecca Duthie Rebecca Duthie 22.04.2022 21:51
Summary: Market sentiment and current market conditions remain main drivers in the prices of crypto currencies. TRON (TRX) planning a decentralized stablecoin. Polygon USD Along with most other cryptocurrencies in the market, the price of MATIC has fallen over the course of today. Market sentiment, current market and economic conditions along with the ECBs intention to regulate the crypto market are all factors currently affecting the price of cryptocurrencies. Polygon USD Price Chart Related article: U.S Yields Expecting Further Increases!?, Announcement Of PMIs Prelims For The Private Sector - FOREX Today| FXMAG.COM Cryptocoin.com (CRO USD) Crypto coin price is following the same trends as the rest of the crypto market by reflecting losses in its price overall today. The crypto market has weak investor confidence in general due to the lack of regulations attached to these coins, we hope to see more stability and more long term investors going forward inlight of the ECBs intention to regulate this market. Cryptocoin.com Price Chart Tron Coin plans a decentralized stable coin. Tron is a blaock-chain based decentralized trading platform with its own cryptocurrency. Whilst most other cryptos fell in price today, Tron's price saw a rise in the first half of the trading day,the price rise came amidst the coin's plans for a decentralized stablecoin. However, overall the price has fallen by almost 6,5%. Read next: Gold Price Forecast: XAUUSD recovers from intra-day dip under $1930, but still pressured as yields/USD rise| FXMAG.COM  Tron USD Price Chart Sources: Finance.yahoo.com, coinmarketcap.com
What Is CEBG? CRYPTO ELITE‘S BATTLEGROUNDS (CEBG) is Now Available on KuCoin IGO Platform! Limited Sale of 8,000 Genesis NFTs What Is KuCoin IGO?

What Is CEBG? CRYPTO ELITE‘S BATTLEGROUNDS (CEBG) is Now Available on KuCoin IGO Platform! Limited Sale of 8,000 Genesis NFTs What Is KuCoin IGO?

Kucoin Blog Kucoin Blog 25.04.2022 10:58
Dear KuCoin Users, After years of accumulation and developments dedicated to providing an exceptional trading experience for cryptocurrency traders and NFT assets investors, we are proud to introduce a new interactive NFT launching platform designed for crypto games and traditional games - KuCoin IGO (Initial Gaming Offering). Crypto Elite's BATTLEGROUNDS (CEBG) Genesis Mystery Box, will be launched at 11:30am on April 25, 2022(UTC). Check out what is the latest KuCoin IGO Project CEBG and how does the P2E features work? CEBG Genesis Mystery Box Terms: Total CEBG NFTs: 8,000 Mystery Boxes IGO Period: 2022/04/25 11:30am - 2022/04/30 12:00pm (UTC)   Time Price Items Available Purchase Limit CEBG Genesis Mystery Box Whitelist Round 2022.4.25 11:30am 100 USDT 500 10 NFTs per UID CEBG Genesis Mystery Box Round 1 2022.4.25 12:00pm 100 USDT 1,000 4 NFTs per UID CEBG Genesis Mystery Box Round 2 2022.4.27 12:00pm 120 USDT 2,500 6 NFTs per UID CEBG Genesis Mystery Box Round 3 2022.4.29 12:00pm 150 USDT 4,000 - *(web-access preferred) What is KuCoin IGO? KuCoin IGO provides a seamless centralized experience for users to purchase, invest and manage their unique NFTs. Like cryptocurrency trading, IGO allows users to directly purchase NFTs and withdraw to their external address with minimum delay, and there is no gas fee for NFTs purchase and NFTs withdrawal. As our IGO partners, KuCoin IGO provides three different approaches to launch your In-Game items via flat rate sales, auctions, or mystery boxes. IGOs can be conducted over several rounds, offering a different number of assets each round with a tiered price structure. What is CEBG? CEBG is an online multiplayer battle royale game with an anime aesthetic. In the game, players land in the war zone, search for guns, and fight each other for precious resources. The game was inspired by PUBG. EACH TIME, ONLY ONE SURVIVES… In the past 2 months, CEBG invited more than 200 guilds and KOLs to test CEBG, 95% of players responded with a "Strong desire to continue playing” after their alpha trial. CEBG designs a model around co-creation & user acquisition: Co-creation by players; User acquisition provides an easy transition from web 2.0 to 3.0. CEBG is a gateway to a GameFi Studio: With a large user foundation; unique NFT; UGC tools for 3rd developers and players, to build a Web3.0 Game Studio, truly created by its players. What is Genesis Mystery Box? Open the Genesis Mystery Box for a CEBG Genesis NFT and NFT gift pack! Opening the Genesis Mystery Box will give you 100% access to a random Genesis Hero NFT. The Genesis Hero NFT is the key to unlocking CEBG's Play To Earn mode - by fighting with the Hero NFT, players will be rewarded with a steady stream of tokens. With a Genesis Hero NFT, you will additionally receive. Priority to access to CEBG future WHITELIST campaign Token AirDrop Early access to all games developed by CEBG Studio Limited edition skin NFT Distinguished Genesis logo More to come Opening the Mystery Box will give you an additional 30% chance of getting a bonus Weapon NFT and Chip NFT in addition to theGenesis Hero NFT. All these extra NFTs gained will enable players to boost their Play To Earn earnings. It allows players to have stronger battles, flashier skills and higher fun in the game. CEBG NFTs have 3 unique traits-- Modifiable, reproducible and certified,it can be used as identity verification. These qualities can support players' social and UGC needs, motivate players to recommend CEBG games and invite their friends to play together, improving user retention while growing a consistent userbase. All NFTs can be interoperable within the series of future games in the GameFi Studio, as an identification. Find CEBG: Websites: https://www.cebg.games/ Telegram: https://t.me/CEBG_official Discord: https://discord.com/invite/8dWX6jpcME Twitter: https://twitter.com/CEBG_GAME Notes: In order to open the mystery box, users must withdraw their mystery boxes to the CEBG official website ; To participate in the IGO, please make sure you have a sufficient amount of USDT in your KuCoin Trading Account; The user hereby confirms that participation in the activity is voluntary, and KuCoin Group has not forced, interfered, or influenced the user's decision in any form; The users from Mainland China are not supported in the IGO. Risk Warning: Investing in cryptocurrency and NFT assets is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens before they come to market; however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for investment gains or losses. Find the Next Crypto Gem On KuCoin! Download KuCoin App >>> Follow us on Twitter >>> Join us on Telegram >>> Join the KuCoin Global Communities >>>
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

(BTC) Bitcoin Priceslips To The Lows Of The Year. Crypto Regulations: Confusing Discussion In The US And The EU. Ether (ETH) And Monero (XMR) Highlighted

Alex Kuptsikevich Alex Kuptsikevich 25.04.2022 08:43
Bitcoin declined by 2.3% over the past week, ending it at around $39.5K. Ethereum lost 3.9%, while other leading altcoins in the top 10 fell from 2.2% (Solana) to 10.5% (XRP). The exception was Terra (+12.9%). On Monday, the pressure on cryptocurrencies continued, taking another 1.3% off bitcoin to 38.9k, sending it to test March lows. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Total crypto market capitalisation, according to CoinMarketCap, changed little over the week, remaining at 1.8 trillion, as a wave of buying in the first half of the week turned into a strong sell-off in the second. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Read next (by FXPro): What Moves Forex Rates? Strong US Dollar Affects British Pound (GBP), Japanese Yen (JPY) And CNH | FXMAG.COM Crypto Fear and Greed Index rose from 24 to 27 and returned to its starting point during the week. By Monday, the index had lost another point to 23, remaining in the extreme fear territory. Bitcoin has declined for the third consecutive week, along with stock indices. BTC tried to rise, renewing its highs in a week and a half, around $43,000. Thursday and Friday saw a sharp pullback along with the stock market, and bitcoin fell below the circular $40,000 level. Changpeng Zhao, the Binance's chief executive, said the adoption of cryptocurrencies would rise as geopolitical tensions escalate and the use of the dollar as a sanctions tool grows. He believes the US will lose out to the rest of the world if it continues to suppress bitcoin. Read next (by FXPro): Want To Exchange 100 GBP To USD? GBP/USD Below 1.3000! (GBP) British Pound Weakens! GBP To USD - 17-Months-Low! | FXMAG.COM A group of US congressmen have spoken out against mining cryptocurrencies using the environmentally damaging Proof-of-Work (PoW) consensus algorithm. They said that cryptocurrencies of particular concern are BTC, ETH, XMR and ZEC. The EU has discussed banning BTC trading because of its energy and environmental impact. Bitcoin's energy consumption continues to increase and is attracting the attention of environmental organisations and regulators.
A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin

A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin

Rebecca Duthie Rebecca Duthie 25.04.2022 09:18
Summary: What is meant by decentralization and smart contracts. What is the Kishu Inu coin and why is it becoming so popular? The future of Kishu Inu looks bright. Other advantages of the coin. When users make a Kishu transaction, they receive a 2% reward in a decentralized wallet, thus, the more KISHU is used, the more rewards are granted to its users. The Kishu Inu Coin, represented by the token symbol: $Kishu, is a decentralized meme-coin that is community-focused, active users of the coin receive instant rewards. When users make a Kishu transaction, they receive a 2% reward in a decentralized wallet, thus, the more KISHU is used, the more rewards are granted to its users. The main difference between Kishu Inu and its comparable coins is that it is community-owned, the developers do not reserve coins for the team, but instead rely on donations. In addition, the community makes all the decisions. Read next: Global Crypto Market Value Fell By Over 2% Today. (Polygon) MATIC/USD, CRO (Crypto.com) and TRON/USD (US Dollar) | FXMAG.COM A decentralized network is beneficial to all parties involved in the transaction, as it nullifies the need for trust and authority to take part in transactions With decentralization the transfer of control and decision making is taken from a centralized entity (organization, individual or group) and given to a distributed network. A decentralized network is beneficial to all parties involved in the transaction, as it nullifies the need for trust and authority to take part in transactions. The smart contracts in KISHU Inu means the community and users are almost completely protected from any bad actors The $KISHU coin’s smart contract has been audited and its LP (liquidity pool) tokens have been burnt. Smart contracts are digital contracts which are stored on a blockchain, when predetermined terms and conditions are met, the programs are executed. They are beneficial as they leave little to chance. In addition, they automate the execution of agreements so all parties can be sure of the outcome, they also eliminate the need for an intermediary. The smart contracts in KISHU Inu means the community and users are almost completely protected from any bad actors. Originally the creation of the Kishu Inu coin was inspired by Dogecoin (DOGE), it is a meme cryptocurrency, meaning the coin is associated with a joke. However, Kishu Inu hopes to break that stigma and turn their coin into a serious cryptocurrency by taking meme coins to another level. Read next: Altcoins: (BNB) Binance Coin Jumps On The EU Sanction Bandwagon The chart below shows the price of the $KISHU token over the past 2 months or so, it shows a bearish trend overall. In the past 24 hours the value of the coin has fallen by around 8,7%, the coinmarketcap ranking is #2943. The Future: KISHU, as of now the coin is almost similar to the Dogecoin and Shiba Inu tokens. The coin also has an impressive market cap of around 2 Billion, and over 100k coin holders right now. There are some strong indicators that can indicate a jump in price over the next few years, such as the introduction of a new dog stream coin. According to some sources the price of the coin is expected to jump hugely by the end of the year, and possibly continue to increase until 2026. It is probably a good coin to watch going forward. There are many other advantages to investing in this coin, the set up of the coin is very interesting. Some of these other advantages not mentioned above include: The coin can be transferred through an inter-wallet wallet transfer across international borders, this inter-wallet charges much lower transaction fees than traditional banking would. Profit without trading is ensured by the advantage of adding coin earnings to their online wallet through staking of KISHU. KISHU holders are able to provide loans to other users on the network, the lenders will receive interest after the debt is paid. The transaction time can be completed within minutes. Read next: Global Crypto Market Value Fell By Over 2% Today. (Polygon) MATIC/USD, CRO (Crypto.com) and TRON/USD (US Dollar) Sources: Kishu.com, amazon.com, coinmarketcap.com, uptobrain.com Chart: Tradingview.com
Crypto Games: Coolmining - What Is It? What Are COOHA And COOGA?

Crypto Games: Coolmining - What Is It? What Are COOHA And COOGA?

Kucoin Blog Kucoin Blog 25.04.2022 13:26
Table of Contents: What Is CoolMining? What is the COOHA and COOGA token and what is it used for? How Does CoolMining Work? Who Are the Founders of CoolMining? What Makes CoolMining Unique? Who Are the Partners of CoolMining? Closing Thoughts In 2008, Satoshi Nakamoto published the Bitcoin white paper, which would go a long way in developing the now-famous protocol that has established the cryptocurrency ecosystem. The vision of Satoshi Nakamoto was for Bitcoin to become a peer-to-peer Electronic Cash System. The Bitcoin white paper shows this vision of electronic cash and how it will allow online payments to be sent and received in a peer-to-peer framework without any form of trust or the involvement of middlemen. Read next (by KuCoin): What Is CEBG? CRYPTO ELITE‘S BATTLEGROUNDS (CEBG) is Now Available on KuCoin IGO Platform! Limited Sale of 8,000 Genesis NFTs What Is KuCoin IGO? | FXMAG.COM A little while later, Satoshi Nakamoto released an update to the Bitcoin white paper, including the Bitcoin mining concept. Mining requires hash power, and providing this hash power to publish blocks on the blockchain takes up computational resources, which can be referred to as a form of work. Hence, Bitcoin is a proof-of-work blockchain. However, as the bitcoin network expands so too does the hash rate output requirement increase. For this reason, CoolMining is filling the gap with a platform that allows small-time miners to contribute hash power in an on-chain mining simulation game to generate BTC rewards. This form of mining is a gamified form of mining on the Bitcoin network that boosts hash power output while making the entire process engaging and rewarding. Watch the COOHA Deep Dive Video and Subscribe to the KuCoin YouTube channel:  What Is CoolMining? CoolMining is an on-chain mining simulation game that will enable small-time miners to have an authentic mining experience. However, all the complex operations and the setting up of sophisticated machinery will be removed.   CoolMining has decided to turn mining into an enjoyable blockchain-based game where every participant can be a miner in the game and earn BTC rewards by contributing to the overall hash power. By turning Bitcoin mining into a gamified process, the players can participate in a comfortable environment and engage their imagination to create rare mining rigs. This is a next-level idea in making money and gaming. CoolMining is an Ethereum-based project. Read next (by KuCoin): DeFi For Everyone! Hawksight - What Is It? (HAWK) Explained. Crypto Projects In Eyes Of Kucoin| FXMAG.COM What is the COOHA and COOGA token and what is it used for? CoolHash (COOHA) The CoolMining ecosystem has two tokens. The first is CoolHash (COOHA), an ERC 20 token representing real-world hash power. Every COOHA token is equivalent to 0.01 TH/s hash rate. This token is also the native governance token of the CoolMining decentralized autonomous organization (DAO). There are 10 million COOHA tokens that will be in existence and will be distributed in phase one of the project. The 10 million COOHA tokens are equivalent to 100 PH/s real-world hash rate. As time continues, more COOHA tokens will be minted as real-world hash power participates in the CoolMining gamified Bitcoin mining process. CoolGas (COOGA) CoolMining is also a dual token-based ecosystem. The other token is CoolGas (COOGA), which is also an ERC 20 token that works as that utility token of the CoolMining gamify ecosystem. The COOGA token is unlimited in supply and is the mining reward token that the community is paid when they mine blocks. Miners use COOGA tokens as the mining rigs to operate, and afterward, they get BTC rewards and COOGA tokens as mining rewards. The COOGA and COOHA tokens have different contract addresses. Read next (by KuCoin): KuCoin: Staking Crypto - Cardano (ADA)/Terra (LUNA)/Polkadot (DOT)/Polygon (MATIC)/Cosmos (ATOM)/Tron (TRX) Flexible Promotion, Enjoy an APR up to 6.3%!| FXMAG.COM The mining host (CoolMining) will receive a portion of the COOGA token paid by the miners as custodial fees. This is how CoolMining makes part of its revenues. The COOHA token economics are simple and reasonably understandable. 50% will be released in a liquidity launch, while the Treasury will remain with 30%. Gamify bonus will be located 10%, while 5% of the tokens will be distributed through community events, and the other 5% will be linearly weighted after one year. This 5% belongs to the initial investors. How Does CoolMining Work? The miners exist as Cool miner NFTs and the players can either mint a Cool miner NFT or Cool part NFT. Alternatively, they can purchase already minted miners on the Cool mart. The CoolMining NFTs are Customizable NFTs that will be distributed in the form of mystery boxes via the CoolMining official website. Players in the CoolMining ecosystem can build their mining rigs by buying different Cool part NFTs that have different capabilities. The Cool part NFTs will be available in four types. Every type of Cool part NFT will assign different attributes to a Cool miner NFT. Some of the parts include the hash board, which determines the hash rate of a miner, the control board, which dictates the reward bonus of a miner; the Power Supply Unit that shows the COOGA consumption level of a miner; and a cooling system which determines the claim fee for the miner when they are redeeming rewards. The Cool miner NFT is an ERC721 token that is unique for every miner. For a player to mint a Cool miner NFT, they need at least one (1) hash board and at most four (4) non-duplicated components of the cool part NFTs. The Cool miner NFT is an ERC721 token that is unique for every miner. It is built by combining different Cool part NFTs. The performance of these miners is determined by the attributes and the level of rarity of the Cool part NFTs that make up the miner. Players will customize their miners by buying Cool part NFTs and minting or by purchasing already minted miners on the Cool mart. Who Are the Founders of CoolMining? The team behind the CoolMining project has chosen to remain mostly anonymous. However, the CoolMining community is vastly active on Twitter, where they have a following of over 11,000 members less than one month after launching the project. This shows the team is committed to delivering and walking with their community until they have achieved the full vision. The project's roadmap is quite extensive and involves a lot of technical advancements, including smart contracts and the launch of the mining game. CoolMining also plans to go multi-chain later in 2022 and launch on multiple chains to harness the KCCGameFi and others. Certik has audited the smart contract code for the CoolMining game to ensure that it is up to standard and is free from vulnerabilities. Who Are the Partners of CoolMining? The partners of the CoolMining project are well-known DeFi and GameFi leaders in the blockchain space. MojitoSwap is a KCC-based decentralized exchange (DEX) that recently announced a partnership with CoolMining. As of February 17, 2022, MojitoSwap launched CoolMining as the first project on its launch pad. The launch was successful, and CoolMining is now listed on the MojitoSwap DEX. On the KCC chain. By extension, the CoolMining project is partnered with the KCC blockchain and the KuCoin pool. Also, since CoolMining is a BTC mining project, they have partnered with Bitmain, one of the world's largest mining rig manufacturing companies. Read next (by KuCoin): VisionGame (VISION) Gets Listed on KuCoin! World Premiere!| FXMAG.COM These are just some of the partners that CoolMining has. At their rate of development, more partners will come in the future. What Makes CoolMining Unique? CoolMining is unique because of its out-of-the-box thinking regarding Bitcoin mining, fused with gameplay. This approach to mining will overturn the common perception that mining is a tedious and monotonous process. On top of this, the COOHA token can be staked to earn BTC rewards. The total BTC rewards are calculated based on real-world total hash rate, and players can claim their share of these BTC rewards at any time. The actual hash power provided by CoolMining Treasury is the cornerstone of the CoolMining project. This hash power unites real-world mining organizations, including mining rig manufacturers, public listed companies, and mining pools, to the CoolMining project. CoolMining provides players with a stable hash power supply, ensuring that the basic or the BTC rewards are secured for the players. The hash power will increase in the future as CoolMining gains more popularity. Closing Thoughts CoolMining is changing the face of mining. While they have chosen to focus on Bitcoin, there is no predicting in which direction they could expand. There are several other PoW chains that Coolhash could incorporate, especially since they plan to go multi-chain by the end of Q2 2022. Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange_New Subscribe YouTube Channel >>> https://www.youtube.com/KuCoinExchange Download KuCoin App >>> https://www.kucoin.com/download Source: KuCoin
Geco.one Crypto Update! Ether (ETH) Has Decreased By Ca. $750! Plunging (BTC/USD) Bitcoin Price! Bitcoin Has Fallen By More Than $4,000 In Recent Days, Solana (SOL) Is Below $100

Geco.one Crypto Update! Ether (ETH) Has Decreased By Ca. $750! Plunging (BTC/USD) Bitcoin Price! Bitcoin Has Fallen By More Than $4,000 In Recent Days, Solana (SOL) Is Below $100

Geco One Geco One 25.04.2022 13:44
Bitcoin has fallen by more than $ 4,000 in recent days, thus increasing the range from 29 March 2022 depreciation to over 9,000 US dollars. However, it is worth noting that the BTC rate from 11 April this year moved in the horizontal trend. Therefore, the critical factor here may be that it is a correction pattern from which the market statistically breaks more frequently in the direction consistent with the previous move. It is increasingly likely that Bitcoin may soon fall below the $ 39,000 currently tested support Considering the earlier drops, we observed in the first half of April this year. It is increasingly likely that Bitcoin may soon fall below the $ 39,000 currently tested support, which would drive it further to below $ 37,000 or further toward $ 35,000. Read next: Weekly Crypto Market Analysis With Geco.one - 19.04.2022 | FXMAG.COM At this point, we cannot forget about the robust correlation that occurs in the broad cryptocurrency market, of which Bitcoin is a kind of helmsman. An apparent decline in BTC may significantly contribute to the sell-off of the vast majority of altcoins. The exchange rate of ETH has recently dropped by nearly $ 750, which is almost 21 % The current situation on the Ethereum quotes is also very interesting. The exchange rate of this cryptocurrency has recently dropped by nearly $ 750, which is almost 21 %. The declines that have lasted for several days caused the ETH rate to break down from the price that has been held since 11 April this year. Consolidation is headed straight towards $ 2,800, where the upward trend is located. Read next: Crypto Update – BTCUSD, ETHUSD, BCHUSD – 04/04/22| FXMAG.COM However, if this support is also defeated, it will be necessary to prepare for further depreciation of Ethereum, even towards $ 2,500. It is only there that there is another significant support in the vicinity of which we could expect the emergence of greater demand response. Solana (SOL) - price of this cryptocurrency remains in a horizontal trend between technical support of $ 98 and resistance in the region of $ 109 Looking at Solana’s quotations, we notice that after declines of over 31 % that we could observe from 11 April this year the price of this cryptocurrency remains in a horizontal trend between technical support of $ 98 and resistance in the region of $ 109. Given that this is a form of correction after an earlier downward move, similar to BTC, there is also a statistically higher probability that the market will break the bottom. If this happens, the SOL rate could soon slide even towards the March lows, i.e. below $ 80. Suppose there is no major demand reaction anytime soon that could negate the morning drops, and the breakout will be confirmed by closing the daily candle below $ 1.33 The current situation on Polygon's trading is also very similar. It is noteworthy that the Matic exchange rate breaks down on Monday morning from the 11 April consolidation. Related article: A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin | FXMAG.COM Suppose there is no major demand reaction anytime soon that could negate the morning drops, and the breakout will be confirmed by closing the daily candle below $ 1.33. In that case, the rate of this cryptocurrency could fall towards further support around $ 1.22, respectively and a further $ 1.02. XRP has slipped below technical support of $ 0.70 and is currently at its lowest level since February We could also expect further declines in the XRP quotations. The exchange rate of this cryptocurrency has dropped by over 19% over the past few days, increasing the range of the ongoing from 28 March this year's depreciation to over 29% today. As a result of such a significant sell-off, XRP has slipped below technical support of $ 0.70 and is currently at its lowest level since February. If this trend continues, we could soon see the XRP rate drop close to $ 0.59 where another critical support is located. Start your Crypto trading adventure with https://app.geco.one
Tepid BoJ Stance Despite Inflation Surge: Future Policy Outlook

(DOGE) Rocket! Why Is DOGE Going Up? Elon Musk Supports Crypto! Musk’s Indirect Pump Of Dogecoin; (BTC) Bitcoin’s Turnaround After Stocks

Alex Kuptsikevich Alex Kuptsikevich 26.04.2022 08:36
Bitcoin has gained 4.1% in the past 24 hours, reaching $40.6K. Ethereum rose even more strongly, up 5.3% to $3000. Other altcoins from the top 10 rose from 2.5% (XRP) to 25% (Dogecoin). The total capitalisation of the crypto market, according to CoinMarketCap, increased 3.9% overnight to $1.87 trillion. The Bitcoin Dominance Index added another 0.1 percentage point, to 41.3%. Bitcoin updated to mid-March lows around $38,200 in the first half of Monday The cryptocurrency Fear and Greed Index rose 4 points to 27 by Tuesday and moved into "fear" status. Bitcoin updated to mid-March lows around $38,200 in the first half of Monday. BTC subsequently rebounded and strengthened gains in the US session along with the reversal of US stock indices. Read next: Gold Transformed! Gold Price (XAUUSD): From Haven To Anti-Dollar (USD) | FXMAG.COM Dogecoin soared 25% and returned to the top 10 cryptocurrencies on the back of news of Twitter's purchase of the social network by Elon Musk. DOGE is Musk's favourite coin for payments, and the Tesla founder has previously indicated that he intends to have it used as payment for purchases on Twitter. Billy Markus : new opportunities for holders of this cryptocurrency and strengthen DOGE's position in the ecosystem. The bitcoin buying strategy has proved highly successful, MicroStrategy CEO Michael Saylor said. As of April 14, MicroStrategy remains the largest publicly traded company in terms of bitcoin investments, with assets of 129,200 BTC purchased for $3.97 billion at an average price of $30,700, MicroStrategy noted in its 2021 annual financial report. Read next: A Rocketship! Greenback Has Become A TGV! US Dollar (USD) - How High DXY Can Jump? | FXMAG.COM Hedge fund SkyBridge Capital, founded by former US politician Anthony Scaramucci, plans to move most of its assets under management into cryptocurrency as it sees the prospect of "huge" growth in the sector. The Central African Republic has become the first country in Africa to recognise bitcoin as a legitimate means of payment. Sang Lee, co-founder of cryptocurrency financial services provider VegaX Holdings, said that institutions dealing with traditional finance and banks have already fallen far behind due to the rapid development of the crypto industry.
The British Pound Faces Further Breakdown Amidst Dollar Strength and Government Shutdown Risks

Easy Money - Play To Earn Games!? Binance Academy: Yield Guild Games (YGG) - What Is It?

Binance Academy Binance Academy 26.04.2022 11:39
TL;DR Yield Guild Games (YGG) is a gaming guild focused on blockchain play-to-earn games. It’s a community that invests in NFT assets and connects blockchain gamers around the world. Their goal is to build a network of players and investors who help each other get started and grow in the NFT gaming space. Introduction Since the success of Axie Infinity, the space of play-to-earn (P2E) blockchain games has been growing rapidly. While the P2E trend has attracted millions of people around the world, gaming NFTs are not affordable for many players, especially in developing countries. Yield Guild Games is building a P2E community and offering a solution to these players, so they can get started with NFT gaming. Learn more on Binance.com What is Yield Guild Games (YGG)? Yield Guild Games (YGG) is a Decentralized Autonomous Organization (DAO) that invests in non-fungible tokens (NFTs) used in blockchain games. These games are part of a broader concept known as the metaverse. The term metaverse refers to the many elements of blockchain-based digital worlds, including digital land, digital assets, and more. Read next: Binance Academy: Meme Coins - What Are They? Dogelon Mars (ELON), Dogecoin (DOGE), Shiba Inu (SHIB), SafeMoon (SAFEMOON), Kishu Inu (KISHU) And AKITA| FXMAG.COM The idea of creating a global play-to-earn gaming community arose in 2018. Gabby Dizon, the YGG co-founder and CEO, noticed that blockchain gaming was trending in Southeast Asia. At that time, many gamers were looking to get started in the popular NFT game Axie Infinity, but they lacked the money to buy the in-game NFT characters called Axies. Understanding that blockchain gaming can be an empowering tool for those living in developing countries, Dizon started lending his Axies to other players who couldn’t afford to buy their own. This inspired him to co-found Yield Guild Games with Beryl Li in 2020 to help gamers thrive in the world of NFTs and blockchain gaming. How does Yield Guild Games work? Yield Guild Games combines Decentralized Finance (DeFi) and NFTs to create a metaverse economy on the Ethereum blockchain. The YGG DAO is an open-source protocol with rules enforced by smart contracts. It serves many different purposes, such as carrying out governance decisions voted by the community, issuing rewards, and facilitating NFT rentals. YGG is made up of multiple SubDAOs, which consist of groups of players from a specific NFT game or geographical location. Each SubDAO has its own set of rules to manage the activity and assets of the respective play-to-earn game. Read next: Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?| FXMAG.COM This model allows players of the same NFT game to work together to maximize their in-game profits. It also enables guild members to rent and use the community-owned NFT assets to earn in-game rewards. In return, those that lend their NFTs via the DAO can share a portion of the gamers’ earnings. On YGG, all NFTs and digital assets are stored within the YGG Treasury, which is controlled by the community. The treasure provides the NFTs to each SubDAO, and it includes P2E assets from multiple blockchain games. YGG Scholarships To maximize the value and utility of gaming NFTs, the YGG DAO uses an NFT rental program known as scholarships. The idea was initially introduced by the Axie Infinity community to benefit both NFT owners and play-to-earn gamers.  In Axie Infinity, Axie owners can lend their gaming assets to help new players get started in return for a percentage of their in-game rewards. The process is done through blockchain smart contracts in a way that scholars can only use the NFTs in-game. Only the manager (owner) can trade or transfer the NFTs. Similarly, YGG provides scholarships to new players under a revenue-sharing model, where they can get NFT assets to start playing and earn in-game rewards. The scholars don’t need to invest any money upfront, but they share a portion of their earnings with their managers. Apart from NFTs, new players will also receive training and guidance from community managers. YGG scholarships are not limited to NFTs in Axie Infinity. The YGG Treasury also owns virtual lands in The Sandbox and League of Kingdoms, virtual cars in F1 Delta Time, among other play-to-earn games.  SubDAOs As mentioned, the YGG DAO is primarily composed of SubDAOs. You can think of SubDAOs as localized communities within the main YGG DAO. These local communities consist of players from a specific P2E game or location. For example, there is a SubDAO dedicated to Axie Infinity players, a SubDAO for The Sandbox players, another SubDAO for Southeast Asian players, and so on. By grouping players into different SubDAOs, they can discuss gaming strategies and help each other maximize performance. Read next: (APE) ApeCoin - What Is It? BAYC, MAYC And BAKC Explained| FXMAG.COM Each SubDAO manages its respective game’s activities and assets under its own set of rules and conditions, but they still contribute earnings to the YGG DAO. In a SubDAO, there is a community lead, a wallet, and a SubDAO token. Token holders can share the yields generated from the gameplay based on their contributions. They also get to make suggestions and vote on governance decisions related to the SubDAO, such as whether to purchase more in-game NFTs, or how to manage their assets. What is the YGG token? Yield Guild Games (YGG) is an ERC-20 token that gives holders the right to participate in the governance of the YGG DAO. It has a total supply of 1 billion tokens, and 25 million YGG was sold via an Initial DEX Offering (IDO) on SushiSwap in 2021. To support the community, YGG has set aside 45% of the total supply to be distributed to users gradually over four years.  As the platform’s native token, YGG is used to pay for services on the network. It can also be staked to earn rewards in the YGG vaults or used to unlock exclusive content on the YGG Discord channel. In addition, YGG holders can submit proposals and vote on decisions regarding the guild’s technology, products, projects, token distribution, and overall governance structure. The winning suggestions that eventually get implemented on the DAO will be rewarded YGG tokens. YGG Vault The YGG DAO adopts a different approach to yield farming than most DeFi staking platforms. Typically, tokens are staked to earn fixed-rate interest. On YGG, each vault represents a token reward program for a specific activity that YGG operates. For example, one vault may provide yields based on the performance of a scholarship program, while another vault rewards stakers based on the Axie breeding program. YGG also plans to develop an all-in-one super index vault that represents all yield-generating activities in its ecosystem. This vault will reward stakers based on the guild’s revenue from subscriptions, merchandise, rentals, treasury growth, and SubDAO index performance. Token holders can stake for the activity they support, and rewards will be distributed proportionally to the amount of YGG they stake via smart contracts. Depending on how the vault is programmed, rewards might also include YGG tokens, Ether (ETH), or stablecoins.  How to buy YGG on Binance? You can buy Yield Guild Games (YGG) on cryptocurrency exchanges like Binance.  Log in to your Binance account and click [Trade]. Select either the classic or advanced trading mode to start. Click on [BTC/USDT] to open the search bar and type “YGG” to see the available trading pairs. We will use YGG/BUSD as an example. Go to the [Spot] box on the right and enter the amount of YGG to buy. In this example, we will use a Market order. Click [Buy YGG] to confirm your order, and the purchased YGG will be credited to your Spot Wallet.   Closing thoughts Through a unique revenue-sharing model, YGG is building a decentralized community in the real world. It offers participants an opportunity to thrive in these virtual worlds through an innovative gaming economy. As metaverse projects are on the rise, NFT guilds like Yield Guild Games could benefit from the influx of newcomers and crypto enthusiasts looking to explore play-to-earn NFT games for an alternative source of income.
Unveiling the Hidden Giant: The Growing Dominance of Non-Bank Financial Institutions

(BTC) Bitcoin In Africa? Avalanche (AVAX), Ripple (XRP) And How To Play The Metaverse Together With Sandbox? | Crypto Market Talk | Swissquote

Swissquote Bank Swissquote Bank 26.04.2022 18:26
How can you trade the metaverse using coins like Sandbox? The power of ZRX for the area of NFTs on the Coinbase NFT Marketplace and are Cardano's stats ghost stats? 00:00 Intro 00:21 Preview 00:55 Crypto news 03:54 Bitcoin 07:24 Ripple 09:08 0x 11:09 Cardano 13:07 Aave & Avalanche 15:11 Polygon Matic 16:45 Sandbox 18:33 Good bye & subscribe Every week Feyyaz Alingan looks at the most important cryptocurrencies and discusses the most important developments in the crypto space to share his thoughts in the Crypto Market Talk. Which coins could go to the moon and which could go bust? Feyyaz Alingan founded Blue Alpine Research and regularly publishes analysis & news on the topic of cryptocurrencies, DeFi and NFTs on YouTube and via Podcast Read next: Could strong earnings reverse the hawkish Fed moodiness | MarketTalk: What’s up today? | Swissquote| FXMAG.COM What is behind the hype of the different blockchain technologies and how can YOU participate? If you don’t want to miss the dynamic world of cryptocurrencies and want to stay up to date with Bitcoin and co. - Crypto Market Talk is the best place to stay subscribed! Feyyaz Alingan founded Blue Alpine Research and regularly publishes analysis & news on the topic of cryptocurrencies, DeFi and NFTs on YouTube and via Podcast. #cryptomakettalk #trading #crypto #blockchain #token #weeklyshow #cryptoshow  Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5  Let's stay connected: LinkedIn: https://swq.ch/cH
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Apecoin (APE), STEPN And Curve DAO Token (CRV) Have Skyrocketed! Is Bitcoin Price (BTC/USDT) Going To Do The Same?

Kucoin Blog Kucoin Blog 26.04.2022 13:00
  Table of Contents · An Overview of the Crypto Market · Top Altcoin Gainers and Losers · Crypto & Bitcoin News Highlights for Apr 18 - Apr 25 · Bitcoin (BTC/USDT) Technical Analysis on the KuCoin Chart The global crypto market cap stands at $1.78 trillion as on Monday, Apr 25. It has dipped by 3.72% since Sunday, despite the total market volume picking up by 51.08% in the past 24 hours. The DeFi market accounts for 11.84% of the entire cryptocurrency market’s 24 hour trading volume. Meanwhile, stablecoins have a a total volume of $51.58 billion, accounting for 83.74% of the total crypto market 24 hour volume.   The biggest weekly gainers in the crypto market include ApeCoin (APE) and STEPN (GMT), which have strengthened by over 55.41% and over 34.56% respectively. In this article, we’ll discuss the most important news highlights from the global cryptocurrency market as well as take a look at the technical overview of Bitcoin.   An Overview of the Crypto Market Bitcoin’s dominance currently stands at 41.28%, an uptick by 0.33% in the past 24 hours. The crypto leader is trading at $38,524.48 down by 1.25% over the past one week.   Cryptocurrency Price HeatMap | Source: Coin360   Ethereum, the world’s second-largest crypto by market capitalization, is trading at $2,828.39, after losing 4.08% over the week. While the majors trade under pressure, several new entrants have been making their mark among digital assets, most notable of all STEPN (GMT), which has strengthened by more than 300% in the past month.   The bearish pressure in the crypto market continues into a fresh week, with most of the leading digital assets still trading in the red. However, the losses in digital assets remain far lower than those seen among leading tech stocks lately. This makes us wonder, is the notorious volatility that crypto is infamous for finally reducing?   When it comes to retail investors, the seemingly oversold market offers several exciting opportunities for traders looking to buy at low prices. So, let’s do a recap of all the key market trends from the crypto market over the past week you should know about.   Top Altcoin Gainers and Losers Via Coinmarketcap Top Altcoin Gainers: ➢ ApeCoin (APE) âž 51.39% ➢ STEPN (GMT) âž 46.70% ➢ Curve DAO Token (CRV) âž 26.90%   Top Altcoin Losers : ➢ Moonbeam (GLMR) âž 13.52% ➢ Decred (DCR) âž 12.89% ➢ Waves (WAVES) âž 12.85%   Crypto & Bitcoin News Highlights for Apr 18 - Apr 25 The global cryptocurrency market remained busy through the previous week, making many headlines over the period. Some of the most noteworthy and key market trends from the world of cryptocurrencies include:   AMC Theatres Accepts Payments in SHIB and DOGE One of the biggest positive developments for the global cryptocurrency market, especially for memecoins, was AMC Theatres starting to accept payments in Dogecoin and Shiba Inu via their mobile app last week. US-based customers can now book movie tickets using DOGE and SHIB by updating their mobile apps.   This development comes a few months after the company started accepting payments in digital currencies since November 2021. The leading US-based chain of theaters first started accepting crypto payments in BTC, ETH, BCH and LTC and proposed the idea of adding the two most popular meme tokens in January this year.   BTC, ETH to Soar to New ATHs This Year: Celsius CEO Mashinsky At the Paris Blockchain Week Summit last week, the CEO at Celsius Network, Alex Mashinsky, offered a rather bullish forecast for the crypto leaders this year. He believes that while the current situation remains somewhat uncertain for digital assets, BTC and ETH could touch new highs later this year.   He forecasts a break past $60,000 for crypto king Bitcoin while Ethereum could take out the $4,500 mark before the end of 2022. However, the Russia-Ukraine war and the US central bank Federal Reserve's plans could put some pressure on the cryptocurrency market growth in the near term before this happens.   Goldman Sachs Planning Alliance With FTX on Regulatory Issues Mainstream businesses can no longer ignore crypto or hold off from dipping their toes in these waters. Leading investment bank Goldman Sachs is looking to cement an alliance with crypto exchange FTX, a sure sign of increasing confidence in digital assets by the mainstream financial services industry.   An article by the Financial Times discusses how FTX’s founder Sam Bankman-Fried met with Goldman Sachs’ CEO David Solomon to examine a potential partnership. It looks like the investment banker wants to advise FTX on regulatory issues and possibly even support their future funding rounds.   German Commerzbank Plans Foray Into Crypto The fourth largest bank in Germany, Commerzbank, has applied for a crypto license in the country. Germany is fast turning into one of the most crypto-friendly destinations in the world and such a move will further increase this sentiment and encourage mainstream adoption of digital assets in the German financial sector.   Commerzbank confirmed last week that it had applied for a crypto license in January 2022. It plans to start with providing crypto-related services to institutional clients before rolling it out to a wider customer base in the future.   Given that the bank has around 70,000 institutional clients, it’s a large enough customer base that could soon gain access to the digital asset market via Commerzbank.   Twitter Testing Crypto Earnings Feature for Creators in USDC via Stripe While the Elon Musk saga with Twitter continues (the latest we hear is that he has secured the funds for the acquisition), the social network is getting busy with its plans to become more crypto-friendly by accepting virtual currency.   Crypto payment giant Stripe announced last Friday that it will work with Twitter to roll out a payment system for digital currencies. The partnership will allow Twitter’s creators to start accepting payments in USD Coin (USDC), powered by Polygon's blockchain technology.   Robinhood Acquires Ziglu to Enter UK Market Popular fintech app Robinhood has confirmed its acquisition of London-based crypto app Ziglu Limited. The move will allow the app to start servicing its UK-based customers, a move the company has been waiting to accomplish since 2020.   Since Ziglu is already registered with the UK’s Financial Conduct Authority (FCA), Robinhood’s decision to acquire the company will ease its own process to expand into this market from a regulatory perspective. The fintech app is credited as one of the key drivers for the crypto boom among retail investors in North America through 2020 and 2021.   Google Data Points to Declining Interest in Bitcoin Among Retail Investors According to the key market trends from Google Trends, there appears to be a decline in global search volume for Bitcoin in recent weeks. The sign could potentially point to dwindling interest in digital currencies among retail investors worldwide.   Bitcoin Interest Amount Retail Investors | Source: Google Trends   With the bearish mood in the global cryptocurrency market in recent weeks, we see a sharp decline from the highs seen in April 2021 in online search volumes for Bitcoin worldwide. However, what is encouraging is that, though the numbers are lower than last year, they are mostly holding steady through 2022.   Fear & Greed Index Still Very Much in the Red Market analysis of the crypto market’s Fear & Greed Index reveals a sentiment of Extreme Fear among investors at present. There has been a one point drop in the sentiment since Sunday and also over the past week.   Fear & Greed Index | Source: Alternative   There has also been a sharp drop in the index since last month when the index stood at 51, indicating a neutral bias. On the other hand, the current reading of the index is 23, well in the red, indicating that sellers have the upper hand in the market at present.   The sentiment of Extreme Fear continues from last week into Monday. Although this indicates a bearish mood, it can be a good opportunity to buy virtual currencies at lower prices. A good strategy for crypto beginners who want to ride the volatility could choose Dollar Cost Averaging (DCA) Strategy during this time.   Bitcoin (BTC/USDT) Analysis on the KuCoin Chart With the price getting rejected last Thursday/Friday on the 50-day moving average (green trend-line) but holding and closing all daily candles above the first line of support (red upwards-facing line), Bitcoin was seemingly entering a short-term consolidation phase.   However, in depth analysis of the recent price movement has shown a relatively strong push towards the downside in the past 24 hours, with the price dropping as low as $38,150.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   If we take a look at the downside, Bitcoin has its first support level set at the upwards-facing channel bottom level, which currently sits at just over $37,000. If Bitcoin manages to break this level to the downside, it will face a 100-week moving average at the $35,600 level.   However, a bullish reversal might push Bitcoin’s price up towards the top of the current channel and all the way to the Dec 27 high of 52,070.   Which move are you counting on?   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.   Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast source: KuCoin
Crypto: How To Estimate A Risk And Take A Profit?

Stablecoins: Shocking UST News! USDC And Twitter (TWTR), (SOL) Solana Crypto Wallet For Android

Crypto.com Accelerate the... Crypto.com Accelerate the... 26.04.2022 12:51
Terra’s UST has become the third-largest stablecoin. Bastion Protocol on the NEAR blockchain closes a US$9M Series A funding round. Orbit Network a stablecoin lending protocol announces its incubation under Cronos labs. APR 25, 2022     Key Takeaways  Terra’s UST flips BUSD to become the third-largest stablecoin. Meanwhile, Tron’s Justin Sun announced the launch of algorithmic stablecoin USDD backed by TRX. Bastion (BSTN), the largest DeFi protocol on the NEAR blockchain, has closed a US$9 million Series A funding round on heels of its impending token launch. MetaMask warns Apple users over an iCloud phishing attack, which has recently caused a user to lose about US$650,000. Also, it launched its first hardware wallet integration with Keystone. Orbit Network, a decentralised stablecoin lending protocol, announced that it is incubated under Cronos Labs. This week’s price and volatility indices were negative at -4.21% and -3.69%, respectively, while the volume index was positive at +27.04%. Highlights MetaMask, Ethereum DApps down as Infura suffers outage Twitter to test out Stripe’s newly added support for USDC payments Net Zero protocol receives Chainlink (LINK) grant to build on-chain geospatial pollution data service MakerDAO (MKR) to integrate StarkNet to cut DAI transaction costs US$19.2 billion in staked assets — Liquid staking solution Lido (LIDO) set to surpass Curve (CRV)’s total value locked Frax (FXS), Terra-backed ‘4pool’ went live on Fantom network, attracts US$31 million Derivatives exchange dYdX (DYDX) to become ‘100% decentralised by end of year’ Solana (SOL) crypto wallet ‘Phantom’ launches on Android Hacker ‘self-destructs’ US$1 million loot gained from DeFi exploit Stargate Finance (STG) tumbles after launching staking platform Uniswap (UNI) blocks cryptographic wallets linked to crime KyberSwap (KNC) launches on BitTorrent chain with US$1.5 million in liquidity mining and incentive rewards Check the latest prices on Crypto.com/Price Top Token Metrics     DeFi Index Tokens     Notable Events Curve Finance (CRV) published an elevated earning which was 100% higher than the average of the past weeks. Convex Finance (CVX) has locked over 200 million units of CRV. Compound (COMP) has been cooling down after its Robinhood listing. Anchor protocol (ANC) passed a proposal to redirect remaining ANC airdrops to the community pool. DEX Metrics     Tags CRYPTO CRYPTO.COM RESEARCH CRYPTOCURRENCIES DEFI UPDATE MARKET Source: crypto.com
Inflation In Philippines Hit 6.1%, Its Pace Is Record-Breaking. What Are The Predictions Of BSP (Bangko Sentral ng Pilipinas) Monetary Policy?

(ADA) Cardano Price Is Still Under Bearish Pressure As The Downturn Continues - Altcoins

FXStreet News FXStreet News 26.04.2022 16:51
Cardano price saw an attempt from bulls to reverse the price trend which failed. ADA price is again down for the day and is set to eke out more losses. Not until ADA price dips below $0.80 will bulls show up for a significant turnaround. Cardano (ADA) price is still under pressure from its rejection by the 55-day Simple Moving Average at $0.97 on April 20. Since then, ADA price has been trading lower as more bearish pressure mounts and dollar strength adds a double weight to the downtrend. Expect downside to continue towards $0.80 or $0.69 with either 13% or 22% losses. ADA price at risk of undergoing dollar gravity, dropping 22% Cardano price has been trying to shake off the tail risks that came along with the situation in Ukraine. The election of Macron for a second term securing political stability in the plagued European block should have helped, but instead, since Sunday night, the Greenback has been rallying against all major currencies, including cryptocurrencies, as investors run for cover due to fear of more lockdowns and supply chain disruptions stemming from the covid outbreak in China. With that spillover effect, most cryptocurrencies are on the back foot, except for the few under Elon Musk’s wing and are trading higher for the day. The dollar index will have hit a substantial level in EUR/USD and other currencies In the first correction phase, ADA price will drop to $0.80 and look at the support offered at the beginning of March. If that fails, expect to see a further continuation towards $0.69 with a level that goes back to February 15, 2021. With another 22% loss, ADA price is nearly set to print a new year low. If that transpires, bears will have lost some force in profit-taking and with not much fuel left to eke out further gains, the dollar index will have hit a substantial level in EUR/USD and other currencies. A correlation to keep in mind. ADA/USD daily chart One should almost forget that it is the earning season in the US. This evening, two big tech corporations are set to make a scene. Microsoft and Alphabet are the first of six big tech names that mainly represent most of the Nasdaq and are set to put out earnings. Should those surprise to the upside and show no sign of weakness against the current inflation backdrop, expect to see Nasdaq popping higher by multiple percentage points, which will spill over into cryptocurrencies and drag those higher, with ADA Price revisiting $1.00.
Stocks Down, USD Up Amid Looming Government Shutdown Concerns

What's Coming To Bitcoin (BTC) And Ether (ETH) Price? - crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 26.04.2022 16:19
ETH options put-call ratio rising. Commerzbank applies for crypto custody licence. Australia launches its first spot crypto ETF. APR 25, 2022     Chart of the Week: A Tale of Two Put-Call Ratios The open interest put-call ratios of BTC and ETH options are telling diverging stories:After forming yearly lows in early January, put-call ratios for both BTC and ETH trended up until February when their paths started to diverge, with BTC’s dropping and ETH’s continuing to rise. The ETH put-call ratio has stayed above BTC’s for the past one month, the longest period it has done so during the past year. ETH has outperformed BTC by 11.7% over the last three months (ETH +17.1% vs BTC +5.4%), on the back of the altcoin run up and anticipated ETH 2.0 upgrade catalyst. With further delays having been announced to the upgrade, the divergence in the put-call ratios trend could be indicating sentiment shift as investors look to increasingly hedge their ETH exposure. Fund Flow Tracker BTC and ETH balances held at exchanges continue their free fall as flows remain net negative (i.e. net outflow).The past week saw 18.8K and 504.4K of net outflows for BTC and ETH respectively. While this could be interpreted as a bullish indicator, potentially implying strong investor inclination to hold, regulatory risk for exchanges may also be having an impact. However, BTC balance held on OTC desks, after largely following the downtrend on the exchanges, saw a rebound after reaching a yearly low in mid-April.  Derivatives Pulse BTC options ATM implied volatilities remain muted and near yearly lows.Front-end implied volatility (one-month) currently stands at 55.5%, compared to 55.4% last week. Implied volatilities for ETH are also muted and near yearly lows. Front-end implied volatility (one-month) for ETH currently stands at 60.5% compared to 59.3% last week. BTC perpetual futures funding rates have flashed red (i.e. negative) during the past two weeks, although the overall regime remains in positive territory over the longer term. Negative funding rates printed at a higher frequency during the past two weeks for ETH perpetual futures than for BTC, although the overall longer-term remains in positive territory as well. Price Movements         News Highlights The Australian Prudential Regulation Authority (“APRA”), prudential regulator of the Australian financial services industry, outlined a policy roadmap for implementation of regulation for financial entities engaging in crypto-assets activities. It expects the framework to be effective in 2025. Australia is set to launch its first spot Bitcoin and Ethereum exchange traded funds. The products will be the first in Australia to invest directly in the underlying assets. The Sandbox seeks to raise US$400M, which would value the company at more than US$4B, according to Bloomberg citing people familiar with the matter. Commerzbank, one of the largest banking institutions in Germany, has applied for a cryptocurrency custody licence, the first time such a move has been made by a major bank in the country. Financial services provider Stripe will add support for payments in USDC stablecoin on the Polygon protocol for select Twitter creators. SkyBridge Capital reported to have raised US$7M for a new vehicle to invest in Bitcoin mining company Genesis Digital Assets. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing on this report are registered trademarks of their respective owners. Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET MARKET INSIGHTS MARKET PULSE
Kishu Inu, A Meme Coin, Promotes Growth And Development Through Its Transparency

Meme coins: (SHIB) What Is Shiba Inu Token? Shiba Inu Coin Price. What Makes This Altcoin So Special? Clever Methods Used To Give High Crypto Returns

Rebecca Duthie Rebecca Duthie 27.04.2022 11:48
Summary: What is the Shiba Inu token? A look into non-fungible tokens. The role burning crypto coins has in the price of Shiba Inu token. A meme coin is a form of cryptocurrency that originated from an online meme or viral image, Shiba Inu is named after the japanese dog breed who has the same name SHIBA INU is a type of meme token. A meme coin is a form of cryptocurrency that originated from an online meme or viral image, Shiba Inu is named after the japanese dog breed who has the same name. The price movements of meme coins are frequently linked to sentiment around breaking news and influencer activity on social media. Shiba Inu is a decentralised cryptocurrency, it runs on the Ethereum blockchain platform, giving the token the same functionality and safety of the Ethereum platform. The Shiba Inu token is not a coin, a crypto token is one that is built on top of an already existing blockchain, and this is exactly what Shiba Inu has done, they do not have their own blockchain. Shiba Inu is actually split into multiple tokens, all of which help the cryptocurrency world function. These tokens are; SHIB, LEASH, BONE, ShibaSwap and Shiboshis. SHIB was the founding token of Shiba Inu, it can be traded and is used as a medium of exchange. LEASH is the most limited token of Shiba Inu-related tokens, with a limit of only 107646 tokens. LEASH coin gives staking rewards to those validating transactions in cryptocurrency. BONE is a token with 250 million units available, this token is used as a way the Shina Inu users a platform to vote. ShibaSwap is Shiba Inu’s own decentralised platform for trading tokens. Shiboshis is a non-fungible token (NFT) which basically means that when an investor buys an NFT they get to say they have ownership rights of an original copy of a digital file. NFTs are important and valuable as they represent the authenticity of a non-fungible asset. Investors tend to enjoy following the Shiba Inu token due to its clever methods used to give high crypto returns. Investors tend to enjoy following the Shiba Inu token due to its clever methods used to give high crypto returns. Shiba Inu plans to give investors a high return in 2022 by burning tokens. Burning tokens refers to users being able to remove tokens from the market circulation thereby, reducing the number of tokens in circulation. Shiba Inu token saw a 46,000,000% increase in the last year thanks to a high investment, the burn rate of Shiba Inu played a role in this investment. The burn rate was at 41% at one point, this rate and the mass-adoption of the token are reasons for this incredible price increase. Since then, the burning of tokens has been labelled one of the best methods to boost the price of Shiba Inu token. This month Shiba Inu even partnered up with Rysoshi’s decentralised finance project; they did this to offer passive rewards to investors who choose to burn their tokens. This works as follows, the investors in Shiba Inu who burn their tokens will receive a ‘burntSHIB’ token, these tokens pay out RYOSHI token rewards at a variable rate. Investors can use the ShibaBurn website to burn their tokens. Current market sentiment for the Shiba Inu cryptocurrency is negative. Current market sentiment for the Shiba Inu cryptocurrency is negative. Data shows that Shiba Inu has not had a good year so far when it comes to performance, the token is underperforming leading tokens such as Dogecoin (DOGE). Stats also show that 55% of Shib token holders are not making money on their investment. Despite Shiba Inu’s recent Robinhood listing, the token is still not expected to start showing bullish signals. The choice of whether or not holding this token is investor specific, perhaps there are better options where returns are more certain. Other Advantages of the Shiba Inu Coin. Shiba Inu supports smart contracts, this allows their users to stake and lend smart contracts, creating the opportunity to earn passive income through recurring fees. Shiba Inu has Elon Musk's support, improving investor confidence through the confidence of the world's richest man. It is a utility driven ecosystem, not only built off of hype. Some of the utilities supported by Shib Inu are the NFTs and a Defi Platform in ShibaSwap. Sources: decrypt.com, finance.yahoo.com, bankrate.com, analyticsinsight.net, crowdwisdom.live
Oil Defies Broader Risk-off Sentiment: Commodities Update

Crypto News: (ARUSD) Arweave, rally watch as buyers clear $27

8 eightcap 8 eightcap 27.04.2022 03:53
Today our focus is on Arweave (ARUSD). Buyers, for now, have pulled back most of yesterday’s losses and continue to push at a possible engulfing bar pattern. Last month, price was supported by news 17M was raised to help make Arweaves data storage blockchain more usable. Up until today, thing’s haven’t been the best for Arweave, with the last four weeks of trade being lower. A shift has started this week, and we can see buyers trying to pull back from losses. Pattern focus, for now, remains on the daily. Today’s candle is close to forming an engulfing bar which sits just above a level of demand. A fair bit of pressure remains on today’s bar. We really want to see a firm close that really needs to beat yesterday’s open or high, and we would prefer to see a close above yesterday’s high, confirming the bar pattern. A close at that point should also lift the CCI above the 0, moving back into a bullish area and set up a break of the current downtrend. If those are achieved by the end of today’s NY session, we could be seeing a new up-leg developing. If price retraces today and closes below $27, that would cancel out the engulfing idea. If heavy selling resumes, a break of the demand area would suggest that the current downtrend has further to run. If we do see a new move higher get going, we have marked two levels of potential resistance, but we would think that key resistance could be the first real test if reached. Arweave D1 Chart The post Crypto News: Arweave, rally watch as buyers clear $27 appeared first on Eightcap.
The Witcher's Geralt Of Rivia Drops Into Fortnite!

Crypto And Sport Revolution! NBA And NFT! Tempting (BAYC) Bored Ape Yacht Club News!

Crypto.com Accelerate the... Crypto.com Accelerate the... 27.04.2022 15:57
Bored Ape Yacht Club floor price spikes off news of its Metaverse ‘Otherside’. The NBA introduces ‘dynamic’ Ethereum NFTs called ‘The Association’. OpenSea acquires NFT marketplace aggregator Gem.xyz. APR 27, 2022     Key Takeaways BAYC creator Yuga Labs recently launched its metaverse project called ‘Otherside’, sending BAYC’s floor price to spike to 137 ETH after the announcement. Aside from the floor price, trading volume also jumped by 22% within 24 hours of launch. The NBA is introducing ‘dynamic’ Ethereum NFTs called ‘The Association’. This collection of 18,000 NBA NFTs will change and evolve over time based on each player’s performance. Leading NFT marketplace OpenSea recently acquired NFT marketplace aggregator Gem.xyz, making it easier to list, buy, and trade assets across both platforms. Through this acquisition, Gem will integrate some of its features to OpenSea yet will remain a separate product and brand on its own.  LooksRare recorded a -3% decrease in sales and a +77% jump in transactions. OpenSea recorded a +12% increase in sales and a -8% drop in transactions. Crypto.com NFT in the Spotlight ‘The ‘Bull Run Crew’ is a collection of 10,000 3D dancing bulls that have been let loose on the blockchain. Armed with their own music and some super funky dance moves, the party never stops with the BRC. Created by artist & music producer Enchanted Future, this is the first PFP collection featuring full-body, 3D animated characters set to original music – with different dances, songs, and over 300 unique traits. Leading the crew is an elite group of ultra-rare legendary bulls, including the king of them all: the Golden Bull. Each piece is priced from $200, and the collection will be available on the Crypto.com NFT website from Thu, 28 Apr 2022. Fran Rodríguez is a digital artist based in Barcelona. He’s been in the crypto art scene for a year now and his NFTs are sold out everywhere. His latest NFT drop, ‘Lucid Dreams’, features 2 special editions of NFT giveaways created by the artist. Showcasing dream testimonies, incredible landscapes, and visual diary of worlds, all 10,000 of these special NFT redeemables will be up for grabs from 29 Apr 2022. Highlights Moonbirds NFT sales skyrocket capturing $364 million in 5 days Boss Beauties raise $4.4M valuing the women empowerment-themed project at $30M NIKE launches the very first NFT assortment primarily based on the Ethereum blockchain Deadfellaz gains representation from the United Talent Agency NBA Top Shot whale launches NFT lending platform with $4.5M in funding IntotheBlock launches NFTs insights section and collections indicators Crypto exchange Injective rolls out BAYC Perpetuals amid heated NFT market NFT project Tori Zero announces a strategic partnership with Wirex Solana-based climate change project employs ‘NFTrees’ to save rainforests Peter Thiel-backed BitDAO votes to invest $6.5 million into Ethereum NFT collective PleasrDAO NFTs stolen after Bored Ape Yacht Club Instagram, Discord Hacked Aku Ethereum NFT launch ends with $34M locked in flawed smart contract Pudgy Penguins’ NFT sales surge 500% on mystery map Transaction Volume Benchmark     Top Collectibles   Project Name Weekly Sales (USD) Transaction Count Number of Buyers Moonbirds $150,227,369 1,511 1,105 Mutant Ape Yacht Club $91,222,005 891 649 MurakamiFlowers Seed $74,518,153 230 153 RTFKT MNLTH $40,756,390 1,450 917 Bored Ape Kennel Club $40,243,372 1,165 719       * Collectibles data from CryptoSlam.io The following chart shows selected top NFTs and their historical floor prices. Upcoming NFT Sales The following table shows top upcoming NFT sales and a sample of their art.   Project Name Sale Date Price Items Market Cap Sample Country Ape Squad 1 Jun 2022 0.3 (ETH) 10,000 3,000 (ETH) Puff World 2 May 2022 0.25 (ETH) 10,000 2,500 (ETH) Crazy Karts Society 26 Apr 2022 3.5 (SOL) 5,000 17,500 (SOL) Chilled Camel Club 29 Apr 2022 1.5 (SOL) 10,000 15,000 (SOL) AquaHeads 30 Apr 2022 2 (SOL) 3,333 6,666 (SOL)       Top Artists The following table shows selected top artists (by sales volume on each platform) and a sample of their art.   Platform Artist Sales Volume (USD) Sample Crypto.com NFT The TRIP: Origin $990,400 Solanart Degenerate Ape Academy $102,912 OpenSea Moonbirds $113,150,520       Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES NFT
What Is SFM? Does The Altcoin SafeMoon (SFM) Have A Bright Future?

What Is SFM? Does The Altcoin SafeMoon (SFM) Have A Bright Future?

Rebecca Duthie Rebecca Duthie 28.04.2022 13:30
Summary: SafeMoon Coin, what is it, how can investors purchase it? SafeMoon’s past and future prices. Functions of SafeMoon. SafeMoon is one of the newer cryptocurrencies on the market, having been launched in the first quarter of 2021. SafeMoon is one of the newer cryptocurrencies on the market, having been launched in the first quarter of 2021 SafeMoon had around 2.9 million holders in January 2022. The token's founders wanted a coin that would ensure “safe” gains. SafeMoon designed its products to resist volatility through offering rewards to its investors for holding their coins. SafeMoon is a type of cryptocurrency that is based on human-based technology and business, their aim is: “expanding blockchain technologies for a brighter tomorrow”. SafeMoon refers to their community as “The SafeMoon Army” which is a deeply connected community who innovates for good. They are building blockchain, commerce, metaverse and NFT products to attempt at deriving new product values from already standing crypto technology and put it towards better use. The SafeMoon Protocol V2 Token; a community based DeFi Token that is a part of SafeMoon’s expanding ecosystem. Coindesk.com defines DeFi tokens as representatives of “a diverse set of cryptocurrencies native to automated, decentralised platforms that operate using smart contracts.” Recall that a decentralised cryptocurrency platform transfers the control and decision making from a centralised entity (organisation, individual or group) and is given to a distributed network and smart contracts. Recall that smart contracts are digital contracts which are stored on a blockchain, when predetermined terms and conditions are met, the programs are executed. Read next: Meme coins: (SHIB) What Is Shiba Inu Token? Shiba Inu Coin Price. What Makes This Altcoin So Special? Clever Methods Used To Give High Crypto Returns  There are 4 Functions that occur when a SafeMoon trade occurs: Reflection: 4% of the transaction is distributed to all coin holders. This is in an attempt to lessen the problems with mining rewards. This happens in 2 ways: (a) The reward amount is dependent on the size of the purchase. (b) encourages token holders to collect higher payments based on number owned. This will attempt to prevent the earlier investors from selling their tokens en masse and being able to sway the price, like with Bitcoin. LP Acquisition: 3% of each transaction is added to liquidity. The automatic liquidity pool is seen as an advantage of SafeMoons coins, it creates a solid price floor for both buyers and sellers. The LP is meant to help with long-term stability, in addition, written in a smart contract there is a 10% penalty for sellers of the coin and 5% of this penalty is split between existing holders, this is in an attempt to discourage investors from selling their coins. Manual Burn: 2% of tokens are burnt. The burning of SafeMoon Tokens is manual instead of continuous, this is in an attempt to increase the value of the coins for long-term investors. It also increases transparency of the coin as the burns are announced and tracked publicly. Growth Fund: 1% is added to the SafeMoon Ecosystem Growth Fund. The SafeMoon coin is designed to discourage selling, driving the price up over time and benefiting early investors and the owners. There are some analysts who believe that early adopters will pump the coin and hype it up to drive the price up and then sell when they have made money. The price history of SafeMoon has been a rollercoaster. Since the coin was launched its price has risen by more than 140,000%, showing the huge momentum this coin has had. SafeMoon falls under the altcoin category, meaning that it is highly sensitive to movements happening on the wider crypto market. Hence, due to current general bearish market sentiment, it is not surprising that the coin has seen almost a 61% decline in its price over the last month. Price predictions for 2022 will depend on two factors. Market sentiment and the broader crypto markets. We are seeing more of a link between the general stock markets and the crypto markets, this came to light when we saw both markets react to the announcements of rising inflation and rising interest rates. This is because the opportunity cost of holding cryptocurrencies and stocks increases as these yields rise, especially because the investments linked to the rising yields are considered safer than cryptos and stocks. The utility factors of the SafeMoon coin will affect the price, these utility factors will determine how they will manage the coin. SafeMoon Crypto Price Chart Read next: What Is Chia Coin? - (XCH) - First New Nakamoto Coin Since Bitcoin Launch (2009)  To purchase the SafeMoon coin investors will need to download the Trust Wallet App It is necessary to purchase an already established coin such as Binance or bowscoin. Click on the DApp tab on the Trust Wallet App, this allows you to find decentralised coins. Look for Pancakeswap - this will allow you to trade Binance or Bowscoin for SafeMoon tokens. The SafeMoon Tokens will be held in the Trust Wallet App going forward. Sources: safemoon.com, coindesk.com, gobankingrates.com, Finance.yahoo.com, business2community.com, thetimes.co-uk.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin lies at the bottom

Alex Kuptsikevich Alex Kuptsikevich 03.05.2022 11:38
Bitcoin rose 0.6% on Monday, ending the day near $38.4K, cruising at arm's length from the $38K level for the past five days. Ethereum has settled near $2800, losing 0.5% over the past 24 hours. Other altcoins in the top 10 have shown mixed dynamics, ranging from a decline of 1.9% (Solana) to a rise of 1.5% (Terra). Total crypto market capitalisation, according to CoinMarketCap, declined 0.7% overnight to $1.74 trillion. Bitcoin's dominance index added 0.2% to 42.1%. The cryptocurrency Fear and Greed Index was down 1 point to 27 by Tuesday and remains in "fear" mode. Since late March, the bears have been intensifying from $39K, forming a sequence of lower highs. At the same time, the basis in the form of support at $38K generally remains untouched. The crypto market seems to have laid at the bottom, missing the momentum of the US indices growth at the close of trading, indicating a high supply of coins for sale and reluctance to take active actions in anticipation of the Fed's decision on Wednesday. But there may be another lower bottom if the FOMC reaction to the Fed leads to a stock market sell-off.    According to Santiment, large investors have been aggressively buying Ethereum and Binance Coin over the past two weeks, which could signify an impending trend reversal. JPMorgan Chase CEO Jamie Dimon said that cryptocurrencies offer advantages over fiat currencies in some respects, such as fast transaction times for payments. However, Dimon still recommends caution when investing in crypto-assets. According to Coin ATM Radar, the global bitcoin ATM installation rate declined for the fourth consecutive month in April. Meanwhile, Solana's blockchain went down for seven hours to carry out transactions due to a surge in operations that the network could not cope with. Billionaire Mark Cuban suggested using DOGE to fight spam on Twitter, which Elon Musk recently bought out.
Kishu Inu, A Meme Coin, Promotes Growth And Development Through Its Transparency

(SHIB) Shiba Inu price is about to recover after this bullish breakout

FXStreet News FXStreet News 03.05.2022 16:31
Shiba Inu price is set to reboot its uptrend after a false break below. Expect to see a 35% upside towards $0.00002800, a vital level going forward. SHIB price is currently squeezed at the intersection of two major trendlines. Shiba Inu (SHIB) price slipped below necessary support after experiencing bearish pressure from a downward trend line. Bulls, however, have kept any further fades contained and even revealed a squeeze to the upside. Despite four rejections against both the red descending trend line and the green ascending trendline Shiba Inu price is at least posting higher lows on a daily chart. Bullish pressure is mounting and is set to materialise in a pop above $0.00002400 that could lead to a rally up to $0.00002800 around the monthly R1 and the 78.6% Fibonacci level. SHIB price set to restart its 2022 uptrend Shiba Inu price slipped below the essential green ascending trendline that acted as the backbone for the uptrend throughout 2022 thus far after rejection from the red descending trendline to the topside. However, with higher lows, the stage looks set for a squeeze and pop higher as bullish momentum builds and the Relative Strength Index (RSI) builds up to the upside. SHIB price thus will make its way across the intersection between the red and the green diagonal trend lines and, in the process, shift from a downtrend to an uptrend. One bullish indicator will be when the daily pivot at around $0.00002284 is turned back into support. From there, a quick jump looks set towards the monthly R1, just a few ticks away from the 78.6% Fibonacci level at $0.00002782, so presume $0.00002800 as the big figure target, booking 35% profit with it. SHIB/USD daily chart Risk comes with another fifth, firm rejection against the red descending trend line or the green ascending trend line. That could be a setback for bulls, triggering short-term profit-taking and creating a fade that could be extended to $0.00001708, dropping 22%. With that move, the RSI would hit the oversold barrier again and see a bullish reversal for the next attempt.
The Commodities Feed: Iranian Oil Flows Rise Amid Market Headwinds, Natural Gas Volatility Ahead

Top 3 Price Prediction (BTC) Bitcoin, (ETH) Ethereum, (XRP) Ripple: Official start to recovery rally

FXStreet News FXStreet News 04.05.2022 16:23
Bitcoin price prepares for its ascent to $42,100 after bouncing off a stable support level. Ethereum price needs to overcome the $3,000 barrier to have any chance at revisiting $3,500 or $4,000. Ripple price begins its journey to $0.70 after a recovery above the $0.60 support level. Bitcoin price has kick-started its attempt to move higher, picking up Ethereum and Ripple along with it. Investors can expect BTC to revisit Monday’s high and reevaluate directional bias from there. Bitcoin price begins its journey higher Bitcoin price bounces off the lower trend line of the ascending parallel channel, which is formed after drawing trendlines above and below three sets of higher highs and higher lows. Investors can expect BTC to slice through the 100-day Simple Moving Average (SMA) at $41,009, which is the first major hurdle. Doing so, will allow it to retest the 50-day SMA at $41,921, which coincides with the daily supply zone, extending from $43,981 to $41,921. This area of confluence is where the upside will be capped for the big crypto and would represent a 10% gain. BTC/USDT 3-day chart Regardless of the bullish outlook, a daily candlestick close below the $34,752 support level will invalidate the bullish thesis and trigger a crash to $30,000 or lower. Ethereum price to reverse the trend Ethereum price is in a medium-term ascending channel created by connecting its two higher highs and three higher lows since January 28. The third retest of the lower trend line has shown a bullish reaction – lead cryptocurrency BTC is recovering and influencing the rest of the market. Regardless of the bullishness, ETH needs to flip the 100-day SMA at $2,914 followed by the 50-day SMA at $3,069 to continue rising. This development is key to triggering a move that tags the 200-day SMA at $3,443. While a move to $3,500 is likely, a surge in buying pressure could extend the run-up to the $4,000 psychological level. ETH/USD 1-day chart On the other hand, a daily candlestick close below the weekly support level at $2,541 will indicate a resurgence of selling pressure and invalidate the bullish thesis. This could trigger a further crash to the $2,000 psychological level. https://youtu.be/hDdFa7mu7Jo Ripple price purges sell-side pressure Ripple price purged the downside pressure by collecting the liquidity resting below the $0.60 support after a 30% crash. XRP price has since moved back above the said foothold, indicating that buyers are in control. A resurgence of buying pressure is likely to propel XRP price up to the immediate hurdle at $0.696. Clearing this barrier will present two further resistance levels for Ripple bulls to overcome - the 50% retracement level at $0.735 and the 2022 volume point of control at $0.768. For now, the market structure looks uncertain due to the choppiness of Bitcoin. Therefore, investors can expect a local top to form around $0.768, representing a 25% ascent from the current position at $0.615. XRP/USD 1-day chart A daily candlestick close below the $0.601 support level will produce a lower low and invalidate the bullish thesis. In such a case, XRP price is likely to crash to the $0.548 support level. https://youtu.be/hBoG1pklXYI
Being Paid Money For Playing A Game!? When it's hard to break yourself away from the screen – P2E analysis. Play To Earn Games; RoboHero (ROBO)

Being Paid Money For Playing A Game!? When it's hard to break yourself away from the screen – P2E analysis. Play To Earn Games; RoboHero (ROBO)

Finance Press Release Finance Press Release 29.04.2022 14:39
Games are an excellent way to escape from the daily routine and enter the new world. Gaming has many faces, it could be your biggest passion, Sunday fun, or earning method. The latter mentioned is a relatively fresh concept for the world of digital entertainment. It is worth taking a closer look at it to understand what makes us unable to tear ourselves from the computer or smartphone’s screen for hours. Would you like to know what elements should have the quality Play-to-Earn (P2E) title? We invite you to the text! Refined business model P2E is from the financial perspective a moneymaking tool. It's driven by a game token and provides users with diverse and effective ways to collect funds, some of which will be used to develop the game. It provides an effective model, from which the income will be divided between investors – gamers, the project’s team, and the product – itself. It is a recipe for motivation to keep playing and product development. The possibility of making a steady income that could be your second salary sounds very attractive, especially when we're talking about passive income.  Read next: Play To Earn Games: Revolution On The Games Market – Let's Talk About P2E. What Is Play To Earn? RoboHero (ROBO)| FXMAG.COM As we mentioned before, the fuel that powers the game is token, which value depends on many factors. These include development plans (roadmap), burning part of the supply to increase the price, utility token scope (e.g., internal metaverse economics), etc. It is crucial to reach different clients groups – long-run investors, people who just like to click around and make a few dollars after work, and people who will make it a regular income. Nowadays, we have considerable possibilities, a dozen years ago we wouldn't even consider farming gold in World of Warcraft.  Diverse ways to get funds P2E games offer a wide range of possibilities to claim tokens. It depends on the characteristics of the game. However, the most common theme is a fight in which the winner receives funds from the pot. They are coming from the game’s treasury when the battle is in PvE mode or the players are allocating tokens for the common pool for the winner in PvP. There are also mechanics that we already know from MMO games, such as selling acquired items on the marketplace and trading characters, etc. However, these are ways of active income, which require completing certain tasks to collect a reward.  The real potential of Play-to-Earn is hidden in passive income. At this point, we can use the example of the RoboHero mobile game. In addition to the extensive opportunities to generate active income, we have vast opportunities to earn passively. You can rent your character to another player, lend an advertising billboard in the game and get a lease payment or become the NFT landowner, where the robot fights and get a commission from each battle. This gives many possibilities, from which you can create a superb plan for profit.  Read next: (ADA) Cardano Coin Has The Potential To Compete With Larger Coins - Watch Out Ethereum (ETH)| FXMAG.COM In the world of blockchain entertainment, some issues are appearing, foremost – the game’s entry barrier. Usually, you need to pay a minimum of several hundred dollars for a character that you will perform tasks. Here, it is worth mentioning again the example of RoboHero, which came out to meet the community and offered a Watch-to-Earn application. It allows you to raise funds for your first robot by watching ads. This is an excellent practice that can become an inspiration for other game developers.  Engaging gameplay We don't forget how crucial is the user experience itself. The high-quality P2E game features the proper balance between earning and playability. If there will appear a deficit of one factor, it can't be made up with more of the other. Playability is a set of rules and game mechanics that contribute to the enjoyment of the game. The real essence of game success is the level of positive emotions you draw from a title. It consists of elements like among others metaverse design, graphics, idea, and plot. Authors need to find a golden proportion in composing these elements. Sometimes less is better. Do you remember Heroes III? An outstandingly playable game that was a tremendous success. Although the graphics and story were in second place, it was the gameplay mechanics that made this title extremely popular until now.  Different recipes for the game As a curiosity, we can introduce to you a distinguished mechanics we can meet in Play-to-Earn titles. We have to admit that authors’ creativity is limitless. Take a look at the gaming models' examples: CryptoCars - earning tokens by driving the car through the road, avoiding obstacles. Pegaxy - taking part in horse races, in which the best contestants are rewarded with tokens CryptoBomb - Escaping from the bomb field on 2D boards. If you survive, you win. Farmers World – you buy in-game NFT land, where you grow certain resources, harvest, and sell them The very friendly gameplay and refined economics of such titles make earning straightforward and fun. In that industry, everyone can find a title that fits them. Different recipes for the game. Summarizing Creating a good Play-to-Earn title is an art. It’s a huge challenge from the technical, financial, organizational, and marketing points of view. This is a young branch of the market, so we are now seeing its wonderful innovative beginnings. It’s worth being interested in this industry and bringing as much enjoyment and funds out of it as possible. Sometimes it's better to change the approach and give a chance to modern earning methods. Being landlord and billboard in-game tenant sounds fantastic. It’s simple – you get tokens and exchange them for fiat money.  After all, who in their youth didn't dream of making money from playing?
Premium Launch of X Rush IGO on KuCoin! Limited Sale of 9,500 NFTs!

Premium Launch of X Rush IGO on KuCoin! Limited Sale of 9,500 NFTs!

Kucoin Blog Kucoin Blog 08.05.2022 00:19
After years of accumulation and developments dedicated to providing an exceptional trading experience for cryptocurrency traders and NFT assets investors, we are proud to introduce a new interactive NFT launching platform designed for crypto games and traditional games - KuCoin IGO (Initial Gaming Offering). X-Rush Genesis Mystery Box, will be launched at 12:00pm on May 10, 2022(UTC).  Check out what is the latest KuCoin IGO Project X Rush ? X Rush Genesis Mystery Box Terms: Total X Rush NFTs: 9,500 Mystery Boxes IGO Period: 2022/05/10 12:00pm - 2022/05/15 12:00pm (UTC)   Price Items Available X-Rush Genesis Mystery Box 299 USDT 9,492 Limited X Racer Mystery Box Auction Highest price will be determined by bidders 8   *(web-access preferred) What is KuCoin IGO? KuCoin IGO provides a seamless centralized experience for users to purchase, invest and manage their unique NFTs. Like cryptocurrency trading, IGO allows users to directly purchase NFTs and withdraw to their external address with minimum delay, and there is no gas fee for NFTs purchase and NFTs withdrawal. As our IGO partners, KuCoin IGO provides three different approaches to launch your In-Game items via flat rate sales, auctions, or mystery boxes. IGOs can be conducted over several rounds, offering a different number of assets each round with a tiered price structure. What is X Rush? X Rush is a casual play-to-earn game designed to provide players with a fun gaming experience by racing & shooting in multiple universes. Users can collect their favorite racers and customize racing cars to compete with other players on the leaderboard. X Rush is developed by Unity 3D and is also compatible with Web3 wallets. X Rush aims to form a great gaming community, letting players not only enjoy the fun of the game but also be a part of it, contribute, and of course, earn the game token $ XOX. Key Features: NFT (PFP) with Passive Income + Gamefi (P2E) + Share to Earn (S2E) Verified and well-designed Tokenomics Multiple play-to-earn methods for players Developed on Unity 3D Engine Easy to play and accessible game that can be played on mobile (both iOS and Android) What is Genesis Mystery Box? Open the X Rush exclusive Genesis NFT mystery box and get a random X Racer NFT! - 100% chance of getting 1 X Racer NFT X Racer non-fungible tokens are hand-drawn by the illustrators behind the iconic 2009 multiplayer online battle arena League of Legends (“League” or LoL). X Racers are player-owned NFTs minted in the Kucoin Community, which can be traded on the NFT marketplace to another player. Players who hold the X Racer NFT will enjoy the following rights: The ability to earn 50 Tokens per day, with the passive income halved every 50 days; The rights of using X Racer NFT as profile picture in the game, others are default; The rights of generating Testnet invitation code; Potential future airdrops. Find X Rush Official website: https://xrush.io/ Discord: http://discord.gg/xrushio Twitter: https://twitter.com/XRushio Telegram: https://t.me/XRushOfficial Notes: In order to open the mystery box, users must withdraw their mystery boxes to the X Rush official website ; To participate in the IGO, please make sure you have a sufficient amount of USDT in your KuCoin Trading Account; The user hereby confirms that participation in the activity is voluntary, and KuCoin Group has not forced, interfered, or influenced the user's decision in any form; The users from Mainland China are not supported in the IGO. Risk Warning: Investing in cryptocurrency and NFT assets is akin to being a venture capital investor. The cryptocurrency market is available worldwide 24 x 7 for trading with no market close or open times. Please do your own risk assessment when deciding how to invest in cryptocurrency and blockchain technology. KuCoin attempts to screen all tokens before they come to market; however, even with the best due diligence, there are still risks when investing. KuCoin is not liable for investment gains or losses. Find the Next Crypto Gem On KuCoin! Download KuCoin App >>> Follow us on Twitter >>> Join us on Telegram >>> Join the KuCoin Global Communities >>>
Gain Or Loss? How Are Bitcoin (BTC), Ripple (XRP) And Ethereum (ETH) Doing? By Jason Sen (DayTradeIdeas) - 08/05/2022

Gain Or Loss? How Are Bitcoin (BTC), Ripple (XRP) And Ethereum (ETH) Doing? By Jason Sen (DayTradeIdeas) - 08/05/2022

Jason Sen Jason Sen 08.05.2022 11:46
Bitcoin lower as expected as we collapse from strong resistance at 40100/300 & now holding below the 100 week moving average at 36000 as I write - for a very important sell signal. Ripple has well & truly broken the 100 week moving average, now at 6700/6750. Ethereum we wrote: bulls have defended the 500 day moving average at 2800/2750 all this week but the failure to beat strong resistance at 2950/3000 I think will trigger a break below here now for an important sell signal. I am talking crash conditions. As expected, we have broken lower for an important sell signal. Today's Analysis Bitcoin shorts at resistance at 40100/300 worked as prices collapse to my targets of 37500/37000 & the important 100 week moving average now at 36000. THIS IS MEGA IMPORTANT OVER THE WEEKEND. Holding below 36000 is a MAJOR SELL SIGNAL. First stop is 28900/700. Obviously bulls need prices above 36000 as quickly as possible, preferably above 37000 to show they are back in control, targeting 38200/400. We should struggle to beat this level here but a break above 38900 then targets 41500/42000. Ripple remains very much in a bear trend & selling in to resistance has been a successful strategy for us for a number of weeks. We have 9 month trend line support at 5680/40, with a low at 5800 so far as I write on Saturday morning. A break below here (& I would be careful if you bet against it) triggers further significant moves to the downside initially targeting 5100/5070. On a break below 5050I am looking for 4300/4250, just to start with. Obviously bulls desperately need prices above 6750 to get back in the game but this seems highly unlikely now. Ethereum breaks strong support at 2800/2750 & holds below here for a medium term sell signal exactly as predicted, targeting 2640 (hit), 2600, 2570 & 2500 (just to start with). Bulls obviously need prices above 2800 as soon as possible but I cannot se this happening. If I am wrong, look for a test of the 100 day moving average at 2900/2950. Shorts need stops above 3000. A break higher is a medium term buy signal.   To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
KuCoin: What is Green Satoshi Token (GST) and How Does it Work? | KuCoin Crypto Gem Observer

KuCoin: What is Green Satoshi Token (GST) and How Does it Work? | KuCoin Crypto Gem Observer

Kucoin Blog Kucoin Blog 09.05.2022 08:34
Table of Content · What is Green Satoshi Token (GST)? · How does Green Satoshi Token (GST) work? · What Makes Green Satoshi Token (GST) Unique? · Who created the Green Satoshi Token (GST)? · Closing thoughts As the web3 ecosystem continues growing at an accelerated pace, developers in the space have had to come up with different projects to satisfy the demands of the growing community. While most developers are focused on Game-Fi, Social-Fi, and DeFi, some have raised the bar even higher.   An example is Green Satoshi Token, a Solana-based project, which created by STEPN, a web-3 lifestyle app that features Game-Fi and Social-Fi elements. The application allows users to earn tokens by walking, jogging, or running outdoors. Through STEPN, Green Satoshi Token pioneered the Move & Earn concept, an achievement that saw the application emerge fourth in last year’s Solana Ignition Hackathon, which comprised over 500 projects. By incentivizing the above physical activities, Green Satoshi Tokens seeks to nudge a generation stuck behind computer monitors or VR headsets into leading a healthier lifestyle. Additionally, the project aims to fight climate change, connect more people to the web3 ecosystem, and encourage the creation of web3 content creation. Watch the GST Deep Dive Video and Subscribe to the KuCoin YouTube channel: https://youtu.be/KUyU1gRptvI How Does Green Satoshi Token (GST) Work? To get started, users need to download the STEPN application, which is currently available in public beta on the Play Store and App Store. Once installed, the application will prompt users to sign up via email. The system will automatically send a verification code to open the app to the provided email address. Once in the app, users will need to set up a wallet by clicking the wallet icon in the top right corner. The system will generate a 12-word secret phrase that helps prevent anyone else from hacking into your wallet. The final step is depositing some Solana (SOL) into the wallet to purchase non-fungible token (NFT) sneakers in the marketplace. The marketplace features a Filter tool to simplify the process of choosing sneakers. It is vital to have an account balance greater than the purchase price of the NFT sneaker because some amount will go to gas fees. After acquiring new sneakers, users can start running or walking to earn the Green Satoshi Token (GST). The sneakers are limited in that they drain energy during every activity. However, 25% of the energy is replenished every six hours. The specific schedule for restoring energy is 00.00, 06:00, 12:00, and 18:00 AEDT time. At the moment, STEPN has one game model, Solo. However, a Marathon option is under development. The game also has a Background mode, which lets users who own sneakers earn GST even if they are not walking or running. In the Solo mode, users need to turn on their location. STEPN does not reward moonwalking. Moonwalking is when a user’s GPS signal is weak, making it impossible to monitor activity or when a user is not walking or running organically. STEPN uses GPS tracking, motion sensor and health data, and machine learning to prevent cheating. From levels 0 to 29 of the game, users can only earn GST. Achieving milestones along the way unlocks various features, including sneaker minting, sneaker leasing, and sneaker sockets in which users can add gems to improve performance. The game has four types of gems. These are Yellow for efficiency, Blue for luck, Red for comfort, and Purple for resilience. At level 30, users unlock the ability to earn the Green Metaverse Token (GMT), STEPN’s governance token. Users can swap between earning GMT and GST at this level, subject to cool-down periods. Sneaker types determine how much a user earns. There are four sneaker types: Walker, Jogger, Runner, and Trainer. Walker sneakers earn to lowest, while Trainer sneakers earn the highest. Each category has five qualities: Common, Uncommon, Rare, Epic, and Legendary. Moreover, STEPN seeks to let users customize sneakers by burning GST, GMT, or NFTs. However, this feature is under development. At the moment, STEPN works with top sneaker brands for unique co-branded releases. What Makes Green Satoshi Token (GST) Unique? The STEPN team will charge a 2% fee for marketplace transactions. These funds will go toward sustaining operations and compensating team members. Notably, the project seeks to inject over 5% of the trading fee into the STEPN ecosystem. Any other taxes that the project collects will go to the STEPN Treasury Pool, which GMT stakers control. The voting increases with the period of locking. Users that lock their GMT for a month have a voting power of 1, while someone that locks their funds for three years has a voting power of 64. Unlike other web3 projects, STEPN is actively combating climate change through a partnership with Nori. With the community having a say on what happens to the funds in the Treasury Pool, STEPN created measures to ensure profitability while minimizing greed. The project offers five voting options. These are Generous Giver, Kind Giver, Matcher, Greedy Teker, and Selfish Taker. Generous Givers vote to dedicate 70% of the profits in the Treasury Fund to carbon offsetting and taking only 30% as dividends. Kind Givers voted to allocate 55% to carbon offsetting and 45% to dividends. Matchers vote to take 60% and donate 40%. Greedy Takers seek to give away 25% for carbon offsetting, while Selfish Takers vote to take 90% of the profits. Who created the Green Satoshi Token (GST)? Jerry Huang and Yawn Rong co-founded STEPN. Huang has over 10 years of experience in game development, operation, and marketing. On the other hand, Rong is a renowned entrepreneur, crypto angel investor, and start-up incubator. Jessica serves as the project’s Chief Strategy Officer (CSO). She has a decade’s worth of experience in offering consultancy services to high-end clients. Ryan Turner is STEPN’s Lead Designer. STEPN also has a robust team of advisors, including Adidas VP Scott Dunlap, Alliance Head of Accelerator William Robinson, Folius Ventures founder Jason Kam, and web3 investor Santiago Santos. The STEPN team has also inked strategic partnerships with leading firms like Solana Ventures, DeFi Alliance, Alameda Research, Sequoia, Folius Ventures, and Binance, to name a few. Closing Thoughts By combining Game-Fi and Social-Fi, STEPN positions itself for success. Offering users rewards for leading a healthy lifestyle helps STEPN secure and maintain a large user base quickly. The project’s devotion to fighting climate change also plays well into its plans, as companies and countries across the globe strive to achieve carbon neutrality or negativity. Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange_New Subscribe YouTube Channel >>> https://www.youtube.com/KuCoinExchange Download KuCoin App >>>https://www.kucoin.com/download Source: KuCoin
(BTC/USD) Bitcoin will fall until the bulls capitulate, ETH/USD Has Lost, (XRP) Ripple And (ADA) Cardano Have Decreased As Well

(BTC/USD) Bitcoin will fall until the bulls capitulate, ETH/USD Has Lost, (XRP) Ripple And (ADA) Cardano Have Decreased As Well

Alex Kuptsikevich Alex Kuptsikevich 09.05.2022 08:46
Bitcoin is trading near $33.5K on Monday morning, declining for the fifth consecutive day. Over the past 24 hours, losses are 2.3%, and are approaching 14% over the past seven days. Ether loses 3.5% in 24 hours and 14.3% for the week, settling near $2450. Altcoins from the top ten are down between 0.8% (XRP) and 4.3% (Cardano). This situation points to an increasingly rapid exit from cryptocurrencies Total crypto market capitalisation, according to CoinMarketCap, is down 2.3% overnight to $1.54 trillion. More worryingly, volumes are rising along with falling prices. This situation points to an increasingly rapid exit from cryptocurrencies, even though the process takes place without sharp dips. We see an orderly exit – a sure sign that downward sentiment may prevail. The Cryptocurrency Fear and Greed Index has collapsed to 11 The optimists, however, have something to hang on to. The Cryptocurrency Fear and Greed Index has collapsed to 11. Over the past year, the index has been at the current or lower level six times, and on each occasion, we have seen either consolidation or the start of a rally and a rebound. In March 2020, when the index similarly reached single digits, we saw an influx of long-term buyers. The current extreme fear may attract buyers who have been waiting for extreme oversold conditions to buy cryptocurrencies long term. In our case with Bitcoin, this could translate into a sharp acceleration of the sell-off after falling below $30K However, we note that the amplitude of crypto market fluctuations does not resemble either a capitulation of enthusiasts or a wave of stop orders triggering. Typically, a trend reversal is preceded by a sharp increase in momentum with the eventual resignation of those who stood against the trend. In our case with Bitcoin, this could translate into a sharp acceleration of the sell-off after falling below $30K, all the way to the $23K or even the $20K area. It is only from this level that major long-term buyers can be expected to emerge.
Binance Academy: "How to Add Fantom to MetaMask?"

Binance Academy: (FTM) Fantom And MetaMask - Adding Crypto To The Wallet

Binance Academy Binance Academy 09.05.2022 08:41
TL;DR MetaMask is a crypto wallet app and browser extension that primarily interacts with the Ethereum mainnet. To download the extension, you can visit the official MetaMask website. Besides Ethereum, Metamask can also interact with other networks like Fantom. To do this, you’ll need to provide some information to MetaMask. This includes a custom RPC URL, chain ID, and network name. Then, you’ll be able to add Fantom tokens once you import the token address. Adding new blockchains to MetaMask is an important crypto skill that applies to other EVM networks like Binance Smart Chain.   Introduction To get started, you’ll first need a supported crypto wallet like MetaMask. Note that Fantom is not a default network on MetaMask. However, you can easily set up your browser wallet to connect to Fantom in just a few minutes.     Learn more on Binance.com   Installing and setting up MetaMask 1. Download and install MetaMask on Chrome, iOS, or Android through the MetaMask website. To ensure you download the real version, double-check you are on the official MetaMask website.      2. Once you have downloaded and installed the extension, click [Get Started] on the MetaMask welcome page.     3. For new wallet users, click [Create a Wallet]. If you already have a wallet, you can import it using the seed phrase with the [Import wallet] option.     4. MetaMask will ask if you would like to help improve the extension by sharing anonymous usage data. Accepting or refusing this will not affect your MetaMask experience.     5. Create a secure password. This will be used to log in to your wallet. Note that your password is not your seed phrase. The password safeguards your wallet from anyone using your device. The seed phrase allows you to access your crypto even if you forget your password.     6. Now that you have created your password, MetaMask will provide important information about your seed phrase. If you’re new to crypto wallets, make sure to read through this section and watch the video before continuing.      7. Next, click the lock to receive your 12-word seed phrase. Write the words down in the correct order and store them in a safe location (preferably offline). Do not share your seed phrase with anyone. If you lose access, the seed phrase is the last backup to your account. Click [Next] to continue.     8. Confirm your seed phrase by selecting the words at the bottom of the screen in the right order. Once complete, click [Confirm].     9. You have completed setting up your MetaMask wallet. To start using your wallet, click [All Done].     10. For easy access, click the puzzle icon on the Chrome browser to pin MetaMask on your toolbar. By default, Metamask is only connected to Ethereum. In the following section, you will learn how to connect MetaMask to Fantom.     Configuring the wallet 1. You will need to provide some network details to add Fantom support to your MetaMask wallet. First, open MetaMask and click the network dropdown menu.     2. Click [Add Network] on the pop-up.     3. On the [Add a network] page, add the following details. Click [Save] when you’re finished. Network Name Fantom New RPC URL Choose any of the following: https://rpc.ftm.tools https://rpc.fantom.network https://rpc2.fantom.network https://rpc3.fantom.network Chain ID 250 Currency Symbol FTM Block Explorer URL https://ftmscan.com/       4. You have successfully connected to the Fantom network.   Adding Fantom tokens to MetaMask To add Fantom tokens other than FTM, you will need to do this manually. Your wallet can still receive tokens that aren’t imported. 1. Visit FTMScan and find the token contract and details of the token you’d like to add. For tokens not on FTMScan, always look for the contract address from the project’s official website or social media channels. Users should be wary of fake contracts created by scammers.     2. Return to MetaMask and click [Import tokens].     3. Copy and paste the token’s contract address, and MetaMask should automatically fill in the rest of the details. Add them manually if the information is not filled in. Click [Add Custom Token] to finish.     4. Click [Import Tokens].     5. Your wallet will now display the token you added with the correct balance.           Closing thoughts Once Fantom is set up on your MetaMask, you can start transacting, collecting NFTs, interacting with DeFi DApps, and managing your crypto. Plus, you can also swap tokens within the extension. MetaMask isn’t exclusive to the Ethereum network or Fantom. It can also be connected to other networks that are compatible with the entire Ethereum Virtual Machine (EVM). These include the BNB Smart Chain, Polygon, Avalanche, Harmony, and many more. With our step-by-step guide, you’re now ready to add more chains and start exploring.
Crypto: How To Estimate A Risk And Take A Profit?

Terra (LUNA), Uniswap (UNI) And Cronos News | crypto.com: "Weekly DeFi Update (Week 18, 02/05/2022 – 08/05/2022)"

Crypto.com Accelerate the... Crypto.com Accelerate the... 09.05.2022 10:23
UST depegged after US$285M sell-off but quickly regains peg. Uniswap reports deeper liquidity on multiple Ethereum pairs than leading centralised exchanges. Cronos Ecosystem Grants Program announces third batch of grant recipients. Key Takeaways The world’s third largest DeFi protocol by total value locked (TVL), Anchor Protocol (ANC), has lowered the UST earn rate from 19.4% to 18.0% annual percentage yield (APY) since 1 May 2022. Also, a proposal to roll out voting escrow ANC (veANC) has been approved. Terra’s UST depegged after a massive US$285 million sell–off on Curve Finance (CRV) and leading centralised exchange. It was soon stabilised and back to peg. Meanwhile, Luna Foundation Guard (LFG) has added another US$ 1.5 billion of Bitcoin (BTC) to its UST reserves. Uniswap V3 (UNI) is reported to have deeper liquidity in multiple Ethereum (ETH) pairs than leading centralised exchanges by about 2x or more. Cronos Ecosystem Grants Program announced the third batch of grant recipients, which include a few DeFi projects, such as Argo Finance. This week’s price and volume indices were negative at -7.04% and -9.75%, respectively, while the volatility index was positive at +38.89%. Highlights Curve Finance (CRV) integrates with Near’s Aurora Network. Terra’s LUNA declines 10% amid UST depegging concern Hacked crypto platform offers ‘No Questions Asked’ US$10 million bounty for stolen funds Total investment in Syndicate DAO tops US$28 million after latest funding round Jane Street dives into DeFi with US$25 million USDC loan Lido (LDO) briefly becomes top DeFi protocol by TVL with US$20 billion staked Juno’s DAO votes to confiscate US$35 million in tokens from whale in messy dispute ’Revolution’ promised by Tron’s Justin Sun looks like clone of Terra’s algorithmic stablecoin Ribbon Finance (RBN) gives half its protocol revenue to stakers Vector Finance (VTX) TVL hits a record high as the Curve Wars shift to Avalanche Tron DAO buys US$39 million worth of TRX as reserves for its USDD stablecoin whose circulating supply has exceeded US$200 million Polkadex has won the 16th Polkadot’s parachain slot Cardano’s first eUTxO cross-chain decentralised exchange goes live on public testnet Check the latest prices on Crypto.com/Price Top Token Metrics   Metrics Top 20 DeFi tokensmarket cap Top 100 DeFi tokens market cap Current $72.41B $92.35B 7-Day Change -12.73% -11.70% 14-Day Change -20.83% -20.67%       *Top DeFi tokens based on CoinGeckoSource: CoinGecko DeFi Index Tokens   Metrics Price Volume Volatility Top Gainers CRV (+12.63%)UNI (+0.28%)FXS (+0.07%) ANC (+161.57%)FXS (+101.52%)CRV (+22.22%) ANC (+316.91%)FXS (+207.72%)SPELL (+141.28%) Top Losers VVS (-18.62%)MKR (-17.88%)LDO (-14.20%) CAKE (-50.98%)SNX (-41.55%)AAVE (-33.17%) LDO (-89.80%)SNX (-44.24%)CAKE (-43.75%) Benchmark ETH (-10.30%) ETH (+2.43%) ETH (+47.01%)       *DeFI index tokens: AAVE, ANC, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI Notable Events CRV jumped as institutional capital flows in.     Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES DEFI Source: crypto.com
Claim Exclusive POAP NFT Rewards During Alpine Esports Series Championship 2022 Powered by Binance

Claim Exclusive POAP NFT Rewards During Alpine Esports Series Championship 2022 Powered by Binance

Finance Press Release Finance Press Release 09.05.2022 08:57
The Alpine Esports Series Championship 2022 Powered by Binance will be covered by three live streams starting from 2022-04-28. There will be a combined prize pool of $100,000 worth of ALPINE Fan Tokens and NFTs to be shared. 30 drivers from across 10 countries shall fight it out in the Assetto Corsa Competizione game to claim their share of a $90,000 ALPINE token prize pool from Binance as well as other prizes from Alpine Esports partners. Live stream viewers will be entitled to claim exclusive POAP NFTs and share $10,000 in ALPINE Fan Tokens.   Live Stream Schedule Round 1: Races 1 & 2 on 2022-04-28 at 18:30 (UTC)Watch on Binance Live Round 2: Races 3 & 4 on 2022-05-12 at 18:30 (UTC)Watch on Binance Live Round 3: Races 5 & 6 on 2022-06-23 at 18:30 (UTC)Watch on Binance Live New User Exclusive: Watch Live Streams to Share $6,000 in ALPINE All Binance new users who register for a Binance account via this link starting from 2022-04-28 at 18:30 (UTC), watch the live streams and confirm their participation here will be eligible to share a $6,000 prize pool in ALPINE Fan Tokens on a first-come-first-served basis. Scan POAP QR Code & Claim “Binance Alpine GT4” POAP NFTs Binance Fan Token will be giving away exclusive Proof of Attendance Protocol (POAP) NFTs to reward all viewers attending the live streams of the Alpine Esports Series Championship 2022 on a first-come-first-served basis. Look out for the QR code on-screen during each live stream, scan it, and claim a Binance Alpine GT4 POAP NFT in the Binance app. Users can then view the successfully claimed NFTs in Binance NFT Marketplace > User Center > NFT Assets > Collections. Make sure to tune in early to redeem them as there will be a limited quantity of Binance Alpine GT4 POAP NFTs released. Each Binance Alpine GT4 POAP NFT represents a part of the Binance Alpine GT4 car. Viewers who collect all five POAP NFTs will get a chance to win a limited edition Binance Alpine GT4 NFT Mystery Box on a first-come-first-served basis. This Mystery Box collection has four unique car designs, and each of a different rarity. The rarity of each NFT will be determined by the popularity of each NFT design in the Alpine Fan Voting poll. It could be one of the following: Super Super Rare Super Rare Rare Normal For viewers who are not able to collect all five Binance Alpine GT4 POAP NFTs, they may collect Binance Alpine GT4 NFTs on the Binance NFT Marketplace secondary market. These Binance Alpine GT4 car designs will also be available in the Assetto Corsa Competizione game. Additional Benefits Holders of all five Binance Alpine GT4 POAP NFTs who do not win the Mystery Box will share an ALPINE prize pool worth $4,000. Exact mechanics will be revealed later on the Binance Fan Token Twitter page. Holders of all five Binance Alpine GT4 POAP NFTs will be able to join future ALPINE activities, including purchasing new ALPINE NFT collections, participating in ALPINE NFT PowerStation activities, as well as having access to future metaverse partners. Holders of Super Super Rare Binance Alpine GT4 NFTs will receive limited edition merchandise and tickets to virtual meet & greet, with details being revealed later on Binance Fan Token Twitter page. Terms & Conditions Only users who complete KYC by the end of the activity period will be eligible for any rewards. There will be one QR code for ALPINE Fan Token rewards for new Binance users only, and one QR code for the Binance Alpine GT4 POAP NFTs for all users. Users who collect all five Binance Alpine GT4 POAP NFTs stand a chance to receive a maximum of one Binance Alpine GT4 NFT Mystery Box. Binance Alpine GT4 POAP NFTs and Binance Alpine GT4 NFT Mystery Boxes can be viewed on the activity page accessible only through the live stream, and will be available in respective winners’ accounts via Binance NFT Marketplace > User Center > NFT Assets > Collections. ALPINE Fan Token rewards will be allocated to winners’ Binance Wallets within 14 business days after the activity period ends. Users can view their rewards by selecting Wallet > Distribution. Binance reserves the right to disqualify any participants immediately for any improper behaviors. Binance reserves the right to cancel or amend the Activity or Activity Rules at our sole discretion. Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. Risk Warning: Binance Fan Tokens may fluctuate in value and you should conduct your own due diligence of the suitability of tokens and the risks involved before you enter into any transaction. To access and use the Binance Fan Token Platform you must go through our mandatory KYC and Identity Verification process and agree to the Binance Fan Tokens Terms and Conditions and the general Binance Terms of Use. Binance has the right to modify and terminate tokens, utility features, and the entire Binance Fan Token Platform with all its related content without notice or liability to users. It is your responsibility to determine whether you are permitted to use the services of the Binance Fan Token Platform based on the legal requirements in your country of residence. Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
(BTC/USD) Bitcoin drops to 33k USD! Ether (ETH) Drops, Litecoin (LTC) Is Below The Technical Support, Cardano (ADA) ... What will the market do next? | by Geco.one

(BTC/USD) Bitcoin drops to 33k USD! Ether (ETH) Drops, Litecoin (LTC) Is Below The Technical Support, Cardano (ADA) ... What will the market do next? | by Geco.one

Geco One Geco One 09.05.2022 15:32
Bitcoin has fallen by more than $6,700 in recent days. It increased the range of the ongoing depreciation, which started on 28 March, to over $14,800 - nearly 31%. Counting from the all-time peak in November 2021, the BTC exchange rate dropped by almost $56,000, nearly 51%. Such a significant sale meant that you had to pay less than $34,000 for Bitcoin on Monday morning, one of the lowest levels since July 2021. Given that breaking one technical support level usually opens the door to further drops to the next support area, a decline in BTC below $34,500 could signal its continuation towards $29,500, which would be one of the lowest levels since early January 2021. Read next: Look At That! Bitcoin (BTC/USD) Has Plunged By 22%! Huge Drop Of ETH/USD (Ethereum Price) Price Is Here As Well! | FXMAG.COM The current Ethereum situation is also very interesting. The exchange rate of this cryptocurrency fell by more than $1,150 in just over a month, which was over 32%. These declines caused the ETH price to slide below the upward trend line. The subsequent sell-off also beat horizontal support of $2,735, and we also saw an attempt to go below $2,500 on Monday morning. Read next: Geco.one Crypto Update! Ether (ETH) Has Decreased By Ca. $750! Plunging (BTC/USD) Bitcoin Price! Bitcoin Has Fallen By More Than $4,000 In Recent Days, Solana (SOL) Is Below $100 | FXMAG.COM All this means that we could expect further depreciation of ETH to the region of $2350 soon. However, if this support is also defeated, then the price of this cryptocurrency could go even towards $1,750. It is only there that another significant support is found, in the vicinity of which we could expect a more substantial demand response. Looking at the Litecoin quotations, we can see that the price of this cryptocurrency has recently dropped below the technical support of $95. You currently have to pay around $90 for LTC, the lowest level since December 2020. Counting from the peaks of May 2021, the exchange rate of this cryptocurrency has already dropped by over 78%. As long as this sale continues, Litecoin could return to around $67 - only there is another important support. The current situation on the Polygon cryptocurrency prices is also interesting. Over the last five days, the Matic price has lowered by more than 22%, thus increasing the depreciation range that started on 31 March to over 47%. Counting from the peak of implant times on 27 December 2021, the price of this cryptocurrency has already plunged by 68.5%. Read next: What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest | FXMAG.COM Such a large sell-off naturally led to several significant support zones, the last of which was at $1. If the market were to move towards another technical support now, we could see a return to the $0.69. It is only there that there is another barrier in the vicinity of which we could expect the emergence of greater demand response. We could also expect a continuation of declines in the Cardano quotations. Its price lowered since September last year by almost 78%. Such a significant sale meant that you had to pay just over $0.69 for this cryptocurrency, the lowest level since February 2021. As long as the sell-off continues, the ADA rate could drop as low as $0.40. You can watch the Market Analysis here: Start your Crypto trading adventure with https://app.geco.one
Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform

Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform

Rebecca Duthie Rebecca Duthie 10.05.2022 10:46
Summary: Arqu trading platform How to trade and earn yields on the Aqru platform. Advantages of the Aqru platform Read next: What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest  Aqru is a crypto staking platform that makes it simple for investors to earn interest on their cryptocurrency investments. Aqru cryptocurrency is one of the only listed equities primarily offering exposure to the DeFi sector. Aqru currently offers a yield on certain cryptos such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC) and Dai (DAI). If investors hold BTC and ETH they can earn up to 7% APY, if investors hold USDT, USDC and Dai, they can earn up to 12% APY. It is easy for investors to take advantage of compounding interest as the interest is paid daily. Aqru ensures security for users on the platform In order to ensure security for its users whilst they earn interest, Aqru makes use of encryption in transit, encryption at rest and address whitelisting. Users are able to protect their assets with their bank level security and deposit protection insurance, this happens because Aqru makes use of a multi-layered insurance policy, this protects the value of users assets from hacking. In addition Aqru uses the latest Multi-stig technology from Fireblocks (a leading wallet provider) to keep users' assets safe. Encryption in transit protects user data if communications are intercepted whilst transferring between the site and cloud provider. Encryption at rest is designed to protect users from attackers accessing unencrypted data. Address whitelisting enables crypto withdrawals to be transferred to addresses already designated in the users address book. Aqru generates yield from leading providers that have robust audit histories and those that have significant assets under management. To give their users peace-of-mind, Aqru generates yield from leading providers that have robust audit histories and those that have significant assets under management. In addition, yield opportunities are monitored by the experienced risk management committee to ensure Aqru stays ahead of all market trends. Fees for using Aqru There are no fees for using this platform nor are there fees for fiat withdrawals, when withdrawing cryptocurrencies there is a $20 flat fee that is charged on the asset you are withdrawing and a 0.5% fee based on the asset value. The platform accepts payment via card, bank transfer, or wallet-to-wallet crypto payments. Aqru’s method for generating enough returns to pay to their users Aqru generates returns by lending out their users digital assets to institutional and retail borrowers as well as participating and supporting decentralised exchanges. The deposits lent to decentralised exchanges are insured and the platform maintains a rigorous risk management process. Money lent to institutional and retail investors is 100% collateralised, thus allowing ease of returns and to pay customers daily. The returns generated by crypto assets remain high as investors are willing to pay high interest for assets that are not readily available by traditional means. As the crypto market grows and capital becomes more available, yields on crypto assets will decrease. Once users have uploaded their funds to the platform, the value of their assets are distributed into a liquidity pool, which is then distributed to earn a fee on pool-to-peer lending platforms. Aqru makes money by taking a share on the income earned from the liquidity pools. There is a lot of room for Aqru and like-companies to grow as investors begin to realise the benefits of gaining safer yields from safe platforms like Aqru. Aqru also offers services to institutional investors Aqru also offers services to institutional investors with bespoke terms for larger investors, if institutional digital assets allocation becomes larger, Aqru’s addressable market becomes larger. Advantages of investing in Aqru: There is no need for investors to go out of their way to start earning interest. If investors do not own cryptocurrency, they can invest fiat currency and the Aqru platform will take care of exchanging it into the cryptocurrency of your choice, if investors wish to do so. There is no native coin on the platform that investors need to hold in order to receive the best interest rates. There is no lock-in period, i.e investors are welcome to withdraw their funds at any time. Aqru processes withdrawals within 24 hours and does not charge fees on fiat withdrawals. User-friendly platform. The platform is currently giving away 10 USDT to every user that signs up to the platform. Aqru also offers services to institutional investors Becoming an Aqru member is simple, it starts with setting up an account on the platform, which is designed to help users get to know and understand the platform. After account creation users can either fund it by fiat or cryptocurrency transfers. In order to sign up to Aqru accounts, the user will need to go through a verification process to confirm the user's identity and the legitimacy of the funds. Read next: ($GARI) Gari Network's Future Looks Bright As Investors Await New Advancements.  Sources: aqru.io, edisongroup.com, economictimesindiatimes.com.
EUR/USD Downside Risks in a Bearish Bond Market: Assessing the Impact of 10-Year Treasury Yields at 5.0%

Sell in May and go away - 2022 version | Conotoxia

Conotoxia Comments Conotoxia Comments 10.05.2022 11:11
Financial markets still seem to be discounting the prospects of more difficult and expensive capital raising after interest rate hikes and a weaker outlook for the economy with consumption falling due to inflation. For the first 10 days of the month alone, the German Dax fell by about 4 percent, the U.S. Nasdaq 100 by 3.7 percent, the S&P 500 by 2.5 percent Thus, the stock market saying sell in May and go away in 2022 sounds prophetic, as since the beginning of the month it has been hard to find financial assets that could gain in value. For the first 10 days of the month alone, the German Dax fell by about 4 percent, the U.S. Nasdaq 100 by 3.7 percent, the S&P 500 by 2.5 percent, and the DJIA by 1.5 percent. Silver has dipped by 4.5 percent, Meanwhile, since the beginning of the month, the U.S. dollar has gained 0.64 percent. The markets are therefore seeing a broad outflow into cash as part of the potential cash phase of the business cycle, which typically occurs before the bond phase, when these have reached the peak of their yields. This, in turn, may be related to the anticipation of interest rate hikes and a peak in inflation. Nevertheless, it can be added that today's financial market offers solutions that can allow trading both under the rise and also under the fall of financial asset prices, including cryptocurrencies. It is cryptocurrencies that may be the loudest again today, since the beginning of May brought a crash in this market. It is cryptocurrencies that may be the loudest again today, since the beginning of May brought a crash in this market. Tonight bitcoin was trading near of $29,000, which was the lowest value since the crash in May 2021. It is safe to say that history has repeated itself in May 2022, and the background seems very interesting. We are talking about the breaking of the stablecoin UST, which at one point was trading below $0.7. This in turn may have forced the release of bitcoin reserves, which were a hedge against a 1:1 UST to USD exchange rate and a massive supply of BTC tonight. The event was reminiscent of George Soros' breaking of the Bank of England or the release of the franc from the minimum exchange rate at 1.20 against the euro. Whether cryptocurrencies can recover from this remains an open question, as one of the stable coin foundations has been undermined Once again the financial market, this time in crypto, served up an event like we have never seen before and on a scale that has not been seen before. Whether cryptocurrencies can recover from this remains an open question, as one of the stable coin foundations has been undermined. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Crypto Prices: Check Bitcoin (BTC/USD), ETH, Solana (SOL) And Avalanche (AVAX Price). Bitcoin Price At 30K, Back To The Bottom Of The Long-Term Range | FxPro

Crypto Prices: Check Bitcoin (BTC/USD), ETH, Solana (SOL) And Avalanche (AVAX Price). Bitcoin Price At 30K, Back To The Bottom Of The Long-Term Range | FxPro

Alex Kuptsikevich Alex Kuptsikevich 10.05.2022 08:42
Bitcoin collapsed 9.5% on Monday and dipped temporarily below $30K in early trading on Tuesday, stabilising at $31.3K. Ethereum has lost 3.9% in the past 24 hours, while other leading altcoins in the top 10 have fallen from 8.7% (Solana, Cardano) to 12% (Avalanche). Bitcoin's dominance index rose 0.3% to 41.8% on more altcoin weakness Total crypto market capitalisation, according to CoinMarketCap, fell 7% overnight to $1.44 trillion. Bitcoin's dominance index rose 0.3% to 41.8% on more altcoin weakness. Terra and TerraUSD continue to lose ground The cryptocurrency Fear and Greed Index was down 1 point to 10 by Tuesday and remains in a state of "extreme fear", touching a low point for the seventh time in the past year. An even higher level of fear in the last four years that we have only seen in March 2020 and September 2019. The current plunge is a retouch of the lows made in January and July last year for the first cryptocurrency Terra and TerraUSD continue to lose ground. Against this backdrop, the Luna Foundation Guard (LFG) has committed $1.5bn to protect the "stability of UST and the Terra ecosystem as a whole". Stablecoin UST, designed to be as close to the value of the USD as possible, lost more than 30% at one point overnight. But at the time of writing, it is trading at a 14% discount to the US currency. The current plunge is a retouch of the lows made in January and July last year for the first cryptocurrency. This could look like a last line of defence for the bulls, who may try to push back from the lower end of the trading range since early January. However, many markets are on a similar informal frontier separating a correction from a potential collapse, so the situation in the crypto market could largely determine sentiment in the deeper debt and equity markets. As we can see, Ether and Bitcoin remain resilient and robust enough to make them somewhat of a safe harbour within the stormy crypto sea Judging by the dynamics of Stablecoin, the crypto market is undergoing one of its most massive tests of the entire market periphery, which could determine the credibility of the crypto market for many months or years to come. As we can see, Ether and Bitcoin remain resilient and robust enough to make them somewhat of a safe harbour within the stormy crypto sea. At the same time, the collapse in quotations has not yet affected miners' confidence in the cryptocurrency's future, as the BTC network's hash rate continues to grow. Ray Dalio, the founder of Bridgewater Associates, one of the biggest hedge funds, said that bitcoin should be in investors' portfolios. Still, the cryptocurrency itself is not a good competitor to gold in terms of inflation protection. But that could change in the next five to 10 years.
Watch: Eurozone labour market powers ahead

Is Crypto Market Crash Coming? Where to exit (ETH) Ethereum before it crashes to $1,700

FXStreet News FXStreet News 10.05.2022 16:50
Ethereum price bounces off the $2,200 support level after a 12% crash over the last three days. Investors can expect a retest of $2,541 before ETH crashes to $1,730 to collect the sell-stop liquidity. A three-day candlestick close above $3,079 will invalidate the bearish thesis by producing a higher high. Ethereum price has sealed its bearish fate after breaching the consolidation pattern’s lower trend line on May 6. This development has worsened the situation and caused a steep correction for ETH. Ethereum price provides an opportunity Ethereum price set three distinctive higher lows and two higher highs since the January 22 crash. Connecting the swing points using trend lines reveals an ascending parallel channel. This technical formation ideally results in a bearish breakout On May 6, Ethereum price breached the ascending parallel channel’s lower trend line, indicating a breakout. This downswing move caught traction and led to an 18% drop in ETH price in less than a week. At the time of writing, Ethereum price is trading around the $2,199 support level, where buyers seem to be scooping ETH up at a discount. However, considering where Bitcoin price stands, further downside seems more likely. Hence, investors need to be cautious and smart in buying the dips. There might, however, be a minor uptick in buying pressure that could push Ethereum price up to the $2,541 hurdle. This level is likely where the upside is capped for ETH before sellers take control. ETH/USDT 1-day chart Supporting this downswing in Ethereum price is the 30-day intraday Market Value to Realized Value (MVRV). This on-chain metric is used to determine the average profit/loss of investors that purchased ETH over the past month. Based on Santiment’s research, a value ranging from -10% to -15% is termed an “opportunity zone,” since the short-term holders are at a loss and are less likely to sell. However, for ETH, the local base was formed around -16%, which is where the MVRV is currently at and also explains the recent uptick in buying pressure. However, there is another potential base around -30%, where ETH stabilized after crashes in May 2021 and January 2022. Therefore, the chances of Ethereum price heading to $1,730 are high as portrayed by the MVRV 30-day chart. ETH 30-day MVRV intraday Further worsening the situation for bulls is the supply distribution seen across whales holding between 100,000 to 10 million ETH. The first set of wallets – those holding between 100,000 and 1,000,000 ETH – has dropped from 1,452 to 135 over the past three months. For the other group, these numbers have dipped from eight to five. The generalized decline in institutions holding Ethereum indicates that they are not confident in the performance of ETH price in the near future. ETH supply distribution Driving the bearish thesis home is the recent uptick in the supply of ETH on exchanges from 14.86 million to 15.37 million since April 20. This 3.4% surge indicates that investors are moving their tokens to centralized platforms to potentially sell and also adds credence to the outlook described in the supply distribution chart above. ETH supply on exchanges While the bearish outlook seems plausible, a spike in bullish momentum could alleviate the sell-side pressure. However, a three-day candlestick close above $3,079 will invalidate the bearish thesis by recovering its losses. In such a case, Ethereum price could further rally to $3,703 and set a higher high, confirming the start of an uptrend.
Weekly Crypto Analysis: Bitcoin Falls to Half Its Peak, Everything You Should Know Today | KuCoin

Bitcoin Price (BTC/USD) Falls And We're Wondering When The Bearish Market Ends... Weekly Crypto Analysis: Bitcoin Falls to Half Its Peak, Everything You Should Know Today | KuCoin

Kucoin Blog Kucoin Blog 10.05.2022 12:03
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart On Monday, cryptocurrency prices were in a slight bearish mode and the global crypto market cap was $1.60 trillion, down 3.36 percent from the previous day. Total crypto market volume fell 12.97 percent in the last 24 hours to $80.16 billion.   The total volume in DeFi was $9.10 billion, accounting for 11.35 percent of the total 24-hour volume in the crypto market. All stable coin volume was $74.84 billion, accounting for 93.35 percent of the total crypto market 24-hour volume.   Algorand (ALGO) and TRON (TRX), which increased by more than 20% and 15% respectively, were two major contributors to the gains. So let's take a quick look at the latest crypto market news and the technical outlook of Bitcoin.   Crypto Market Overview Bitcoin dominance is now sitting at 41.60%, down from 42.32% last week. The leading cryptocurrency by market was trading at $33,546.49 while Ethereum, the second-largest cryptocurrency by market capitalization, has plunged by 14.24% in the past seven days. On Monday, it was trading at $2,433.30, a 4.49% surge in 24 hours.   Algorand (ALGO), TRON (TRX), and 1inch Network (1INCH), on the other hand, remained the top performers from the previous week. ALGO increased by more than 20% to trade at $0.072, while TRX increased by 20.72% in the last seven days to $0.08613. 1INCH, on the other hand, rose 11.53% to $1.29.   Cryptocurrency Market Heatmap | Source: Coin360   While ApeCoin (APE) maintained its bearish momentum, losing 31.72% to $11.14 in the last seven days. The crypto market's trading sentiment has shifted negatively due to risk-off sentiment, and digital assets are struggling to rise.   Top Altcoin Gainers and Losers Top Altcoin Gainers: ➢ Algorand (ALGO) âž  31.72% ➢ TRON (TRX) âž  27.05% ➢ 1inch Network (1INCH) âž  26.08%   Top Altcoin Losers: ➢ ApeCoin (APE) âž  31.72% ➢ Terra (LUNA) âž  27.05% ➢ Kava (KAVA) âž  26.08%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Klein Finance Completed a Funding Round With KCC Chain and KuCoin-Ventures Klein Finance, a KCC (Kucoin Community Chain)-based stable coin liquidity provider and exchange platform, has announced the launch of its funding program. KuCoin Ventures and the KCC chain have already invested millions of dollars.   Klein Finance's project technology development is believed to be nearly complete, and the new funds will be used for project promotion and team expansion, as well as the subsequent opening of the technology and expansion of its structured products. Klein Finance's financing plan is said to be continuing.   Value Locked in DeFi Slides 17% to $182 Billion Decentralized finance (DeFi) protocols have lost considerable value in the last month, with 17.77 percent shaving off the TVL in defi since April 8, 2022. Curve Finance, the largest DeFi protocol in TVL size, lost 16.55 percent in value over the last month, while Lido lost 13.28 percent. This month, Anchor's TVL is down 10.15 percent, Makerdao's TVL is down 20.48 percent, and Aave's TVL is down 21.12 percent.   Total Value Locked | Source: defillama   Aave's version three (v3) and Tron's Sunswap protocols saw significant 30-day TVL gains. The TVL in defi has lost 6.25 percent of its value in the last 24 hours, and the largest protocol by TVL today is Curve Finance. Curve's $17.24 billion TVL currently leads the aggregate by 9.46 percent as of Sunday afternoon (ET).   However, the drop in TVL is putting additional pressure on overall crypto trading sentiment, driving a bearish bias in the cryptocurrency market.   Bitcoin Extends Sell-Off as US Federal Reserve Hikes Fed Fund Rate by 50 Basis Points Bitcoin is tossing in profit and losses at $33,366 amid risk-off market sentiment. Since February, it fell to its lowest level and has dropped around 14 percent since last Monday. The digital asset has fluctuated between $33,000 and $48,000 since the beginning of the year. It was the last trading under $32,000 in July. Ether, Avalanche, and Solana have all dropped this week.   Bitcoin has largely traded in tandem with tech stocks; both the coin and the tech-centric Nasdaq 100 reached all-time highs in November and have since been on a volatile downward path. The Nasdaq 100 fell for the fifth week in a row.   The Federal Reserve raised the fed funds rate target by half a point to 0.75 percent -1 percent during its May 2022 meeting, the second consecutive rate hike and the largest increase in borrowing costs since 2000, in an effort to combat rising inflation.   The central bank also stated that further increases in the target range will be appropriate, with Chair Powell indicating 50 basis point hikes in the coming meetings.   On June 1st, the Fed will also begin reducing asset holdings on its $9 trillion balance sheet. For the first three months, the plan will roll off $30 billion in Treasuries and $17.5 billion in mortgage-backed securities per month, increasing to $60 billion and $35 billion for mortgages per month.   On the economic front, policymakers noted that the invasion of Ukraine and related events are adding to inflationary pressures and are likely to stifle economic activity. Furthermore, COVID-related supply chain disruptions in China are likely to exacerbate.   Risk-off Sentiment Drives Downtrend in Crypto and Stocks The market's trading sentiment has shifted to bearish or risk-off, as investors seek to invest in risk-free securities rather than risky assets such as stocks and cryptocurrencies. With an increase in interest rates, companies that use debt financing must pay higher interest rates, reducing their profitability. As a result, investors who want to receive dividends or capital gains tend to sell their securities or stocks on the stock exchange.   Traders redirect their investments to less risky assets such as government bonds and treasury bills. As we recently learned, there is a positive correlation between the global stock markets and cryptocurrency prices. As a result, a drop in the stock market is causing a drop in cryptocurrencies. Check out the KuCoin trading strategies for surviving a cryptocurrency crash.   Fear and Greed Index Signals Extreme Fear, Cryptos on a Downtrend The Crypto fear and greed index analyzes emotions and sentiments from various sources and condenses them into a single number. The Fear & Greed Index for Bitcoin and other major cryptocurrencies is calculated daily. The crypto market sentiment shows a score of 11, indicating a strong bearish sentiment across the investors.   Fear & Greed Index | Source: Alternative   On Monday, the fear and greed index continues to exhibit extreme fear, indicating a bearish bias among cryptocurrency traders is getting weaker. Extreme fear can indicate over-anxious investors. It could be a good time to buy as cryptocurrency markets are in an oversold zone. So, look for buying positions as the bulls may enter soon.   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin is trading at $33,600, with a strong bearish bias. On the daily timeframe, the BTC/USDT is heading south to retest the major support level of $32,990. Since the BTC/USDT has formed a bearish engulfing pattern, the odds of a downtrend continuation remain pretty high.   Furthermore, the candlestick pattern "Three Black Crows" also signaled a solid bearish trend. The RSI and MACD are holding under 50 and 0, respectively, indicating a selling trend. Hence, a downward breakout of the 32,990 support level exposes the BTC/USDT price towards the $29,050 level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   On the upside, the leading cryptocurrency, Bitcoin’s immediate resistance stays at the $37,400 level. A spike in demand, and a slice through the $37,400 level exposes Bitcoin towards $40,000 or $42,600 levels.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.       Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin
KuCoin Raises $150 Million at $10 Billion Valuation to Pioneer Exploration in Web 3.0

KuCoin Raises $150 Million at $10 Billion Valuation to Pioneer Exploration in Web 3.0

Kucoin Blog Kucoin Blog 10.05.2022 22:41
Victoria, Seychelles – KuCoin, a global leading crypto exchange, announced a $150 million pre-Series B funding round, bringing its valuation to $10 billion. The round, led by Jump Crypto, saw the participation of multiple investment funds, including Circle Ventures, IDG Capital, and Matrix Partners. The new influx of capital will allow KuCoin to go beyond centralized trading services and expand its presence in Web 3.0, including crypto wallets, GameFi, DeFi, and NFT platforms through investment arms like KuCoin Labs and KuCoin Ventures. KCC, the public chain built by KuCoin's community members, will also be a significant infrastructure where resources will be deployed to create a decentralized ecosystem. Read more: Bitcoin Price (BTC/USD) Falls And We're Wondering When The Bearish Market Ends... Weekly Crypto Analysis: Bitcoin Falls to Half Its Peak, Everything You Should Know Today | KuCoin| FXMAG.COM KuCoin also plans to leverage the pre-Series B round to: Build the next generation of KuCoin core trading system, resulting in tenfold performance improvement. Support KuCoin’s global regulation efforts to better serve 18 million users in over 200 countries and regions. Enhance security and risk management systems to make the platform more secure and accessible. Johnny Lyu, CEO of KuCoin, states: "The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto. KuCoin is built for all classes of investors, and we believe these new investors and partners will contribute to making KuCoin synonymous with a reliable and trustworthy gateway into crypto space."   Tak Fujishima, Head of Asia, Jump Crypto, said: “KuCoin provides a comprehensive platform of crypto services to a global audience, which is one of the many reasons we’re proud to lead this round. We are pleased to support the company as it continues to grow and expand its offerings in futures and margin trading, lending, staking and passive yield generation to support the growth of Web 3.0 and the crypto markets.” According to CoinMarketCap, KuCoin is the fifth largest crypto exchange on the market. In November of 2018, KuCoin secured $20 million in Round A funding.  Read more: KuCoin: Staking Crypto - Cardano (ADA)/Terra (LUNA)/Polkadot (DOT)/Polygon (MATIC)/Cosmos (ATOM)/Tron (TRX) Flexible Promotion, Enjoy an APR up to 6.3%!| FXMAG.COM About KuCoin Launched in September 2017, KuCoin is a global cryptocurrency exchange for over 700 digital assets. It currently provides Spot trading, Margin trading, P2P fiat trading, Futures trading, Staking, and Lending to its 18 million users in 207 countries and regions around the world. According to CoinMarketCap, KuCoin is currently one of the top 5 crypto exchanges. Also, Forbes named KuCoin as one of the Best Crypto Exchanges for 2021. In 2022, The Ascent named KuCoin the Best Crypto Exchanges and Apps for enthusiasts. To find out more, visit https://www.kucoin.com.  
Mid-Market Update: Global PMIs collapse, Relief Rally will be tested next week, Mixed Earnings, Oil finds support, Gold shines, Bitcoin steadies

End Of Crypto Crash? Price Of Bitcoin (BTC/USD) Massive Support

Craig Erlam Craig Erlam 11.05.2022 08:40
Will it break this time? It goes without saying that it’s been a pretty torrid six months for bitcoin since hitting all-time highs close to $69,000. Soaring inflation has forced central banks around the world into action and at the most aggressive pace since the global financial crisis. What’s more, there’s much more to come, so much so that recessions may well be on the cards. Risky assets have been pummelled as a result, few more so than the ultimate risk asset – bitcoin. Cryptos are no strangers to volatility, even the likes of which we’re currently witnessing, with bitcoin now more than 50% from its highs. But is this time different? They haven’t had to contend with aggressive rate hikes and widespread risk aversion in the way we’re seeing now. At one time, bitcoin was being called a safe haven, an inflation hedge, and a deflation hedge, among other things. Right now, it’s clear it’s a risk asset and one that could be in for a lot more pain if a key support level is broken. We’ve seen $30,000 tested many times before and each time it has rallied strongly from that level – there have been brief moves below but they’ve always been short-lived – establishing it as a critical level of support in the process. If that level significantly breaks, it could be a real blow and we could see sentiment turn far more negative rapidly. Below here, there’s no obvious support until $20,000 with $24,000 perhaps offering some reprieve. The reason is the rally after breaking above $20,000 was so aggressive it took only 17 days to hit $30,000 and it’s barely traded below since. Could we see a repeat in reverse? This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Avalanche Price Declined By 10.8%, Ether (ETH) Has Gone Up A Little Bit, Bitcoin Price stabilised but has trouble to reverse strongly | FxPro

Avalanche Price Declined By 10.8%, Ether (ETH) Has Gone Up A Little Bit, Bitcoin Price stabilised but has trouble to reverse strongly | FxPro

Alex Kuptsikevich Alex Kuptsikevich 11.05.2022 10:01
Bitcoin added a symbolic 0.1% on Tuesday, ending the day around $31K and adding another $500 this morning. Ethereum has been adding 0.2% in the past 24 hours. Other leading altcoins from the top 10 showed mixed dynamics, ranging from a 10.8% decline (Avalanche) to a 0.2% gain (Binance Coin). The total capitalisation of the crypto market, according to CoinMarketCap, declined 1.6% overnight to $1.42 trillion. The Bitcoin Dominance Index rose 0.4% to 42.2%. The Cryptocurrency Fear and Greed Index added 2 points to 12 by Wednesday, starting recovery from an area where it rarely lingered. Cardano creator Charles Hoskinson has announced the beginning of new crypto winter Although Bitcoin managed to close Tuesday’s trading with a proper strengthening, a powerful offensive did not happen, as bull buying was choked again by stock market pessimism. It remains a situation where the stock or debt markets will determine whether we see another rebound from the critical $30K level or a failure of support and a complete surrender of the buyers. Cardano creator Charles Hoskinson has announced the beginning of new crypto winter. However, he does not see any factors that could trigger the market to rebound soon. Read more: Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform | FXMAG.COM Cryptocurrency investment company Galaxy Digital reported a net loss of $111.7 million for the first quarter of this year. Galaxy Digital founder Mike Novogratz allowed bitcoin to decline further in the coming quarters due to the negativity on Wall Street. Meanwhile, last week saw an influx of institutional investors into crypto funds after four weeks of capital withdrawals. El Salvador has bought another 500 bitcoins at an average of $30,744 MicroStrategy chief executive Michael Saylor said it has no plans to sell its cryptocurrency reserves. He said bitcoin would have to fall below $3562 for the firm to have insufficient assets to secure loans. El Salvador has bought another 500 bitcoins at an average of $30,744 amid a fall in the crypto market. Last autumn, the country’s recognition of BTC as legal tender was a landmark event for the global economy.
Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra -  Leading Decentralised And Open-Source Public Blockchain Protocol

Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol

Rebecca Duthie Rebecca Duthie 11.05.2022 12:37
Summary A look into Terra (UST) coin. Luna and Terra coins. Advantages of holding Terra coin. Past present and future prices. Read next: Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform  Terra is a public blockchain protocol. Terra is a public blockchain protocol that deploys a suite of algorithmic decentralised stablecoins which underpin a thriving ecosystem which brings decentralised finance to a large number of users. Terra assets are supported by leading blockchains. Stablecoins are coins whose value is pegged to a cryptocurrency, fiat currency or to exchange-traded commodities. Terra USD was created in January 2018 and was launched in late 2021. Terra has a market cap of $4.391 Billion, a circulating supply of 407.49 million with no maximum supply. Terra is the leader of decentralised and open-source publics blockchain protocol for algorithmic stablecoins Terra is the leading decentralised and open-source public blockchain protocol for algorithmic stablecoins. The protocol uses a combination of open market arbitrage, incentives and decentralised oracle voting. With this combination, Terra makes stablecoins that track the price of any fiat currency. Read next: (USDC) USD Coin, What Is It And How Does It Work? - Important Altcoins !| FXMAG.COM The Terra ecosystem is a rapidly expanding network of decentralised applications, creating a demand for Terra and pushing Lunas price up. Terra is an industry-leading decentralised stablecoin reflected by $USDT. It has a vibrant Smart Contracts platform. Terra has a thriving cross-chain DeFi environment. Terra is built on the Cosmos SDK & Tendermint consensus. Terra and Luna: the 2 main coins of the protocol. Luna is Terra’s native staking coin which absorbs the Terras price volatility. Luna is used for mining and governance. Users stake Luna coins to validators who then record and verify transactions on the blockchain in exchange for rewards from transaction fees. The more Terra is used the more Luna is worth. Luna provides its holders with staking rewards and governance power. Terra stablecoins track the price of fiat currencies: Users make new Terra coins by burning Luna. Terra and Luna are always tradeable at a 1:1. 1 USD can be traded for 1 UST. Stablecoins and Terra: The main feature of the Terra protocol is its stablecoins, the TerraUSD coin can be used like fiat currency with added blockchain benefits: lower fees, faster settlement processing times, instant transactions and unchangeable public ledger. If stablecoins maintain their price pegs they are considered valuable. Terra protocol determines the price of the Terra coin using the basic markerket forces of supply and demand - when demand is high, supply is low and therefore the price increases. The protocol keeps the price stable by ensuring supply and demand is balanced. Terra protocols algorithmic market module helps to keep the price stable, which incentivises the burning of Terra through arbitrage opportunities. Arbitrage refers to the making of money on an asset through price differentials between markets. Scalability of Terra: Terras protocol is scalable, which is designed to maintain Terras price stability regardless of volatility, demand or market size. Scalability refers to the ability of Terra’s protocol to receive a large influx of transactions at a time. Terra offers rewards for holding the coin Terras protocol incentivises validators and delegators with staking rewards, in the form of gas and swap fees Gas: to avoid spamming, fees are computed onto each transaction. Validators have the power to add minimum gas prices and reject transactions that have implied gas prices below their set level of. Swap fees: tobin tax refers to the fee for swapping Terra UST stable denominations. Spread fees refer to the price discrepancy between Terra and Luna. The swap fees are directed to the Oracle reward pool, which are then distributed over two years to validators who faithfully report correct Oracle prices. Advantages of holding Terra UST There are many advantages of holding Terra coin, it is decentralised and permissionless which makes it ideal for the economy. Interoperability: this means it is able to run on multiple chains. Terra is live on Ethereum and Solana with plans of expansion in the future. Programmable: development focused agenda, which allows programmers to build smart contracts in Rust, Go and Assemblyscript. Oracles are off-chain sensors that have the ability to communicate data to-and-from the blockchain. Streamlined Financial: Terra aims to reduce or completely remove the need for credit card networks, banks and payment getaways with a single blockchain layer. The Sustainability Of Terra Terras coin uses a proof-of-stake model, which means validators verify transactions based on the number of coins they hold. Proof-of-stake models are less energy intensive than some competing models. Past, present and future price movements Terras price has been stable in the past thanks to its market module based on supply and demand. However, investor fears around the general state of the market has been causing the crypto market to see sufficient drops in prices. Investors see the future price of Terra to see substantial increases in the future when markets start to normalise. Terra USD Price Chart Read next: What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest  Sources: coinwut.com, finance.yahoo.com, terra.money, securities.io, investorplace.com
Nasdaq Slips as Tech Stocks Falter, US Inflation Data Awaits

Rising Inflation In The US Means Rising US Dollar (USD), Chinese COVID Policy Seems To Be Almost Impossible | US inflation, a make-or-break moment for investors! | MarketTalk: What’s up today? | Swissquote

Swissquote Bank Swissquote Bank 11.05.2022 11:12
It’s D-day of the week: we will see whether inflation in the US started easing in April after hitting a four-decade high in March, and if yes, by how much. A soft inflation read will come as a relief that the Federal Reserve’s (Fed) efforts to tame inflation start paying off, but any disappointment could send another shock wave to the market. In the FX, the US dollar extended gains, despite the easing yields yesterday, as the risk-off flows continued supporting the greenback For now, activity on Fed funds futures give almost 90% chance for a 50-bp hike in FOMC’s June meeting; there is a lot left to be priced for a 75bp hike, if the data doesn’t please. To avoid pricing in a 75bp hike at next FOMC meeting, we must see an encouraging cooldown in inflation. In the FX, the US dollar extended gains, despite the easing yields yesterday, as the risk-off flows continued supporting the greenback.   The barrel of US crude tipped a toe below the $100 level on news that the Europeans softened their sanctions proposal against the Russian oil The levels against the majors like euro, yen and sterling remained flat, but the positive pressure in the dollar, combined with Turkey’s unconventional monetary policy start giving signs of exhaustion. The dollar-try advanced past the 15 mark, and the government asked institutions to make their FX operations within the most liquid trading hours. Two weeks ago, the bank had revised its regulations on banks' reserve requirements, applying them to the asset side of balance sheets in order to strengthen its macroprudential policy toolkit. The latter required reserves now pressure the overnight rates to the upside – suggesting that the unconventional policy is near limits. Energy are up and down… but mostly up. The barrel of US crude tipped a toe below the $100 level on news that the Europeans softened their sanctions proposal against the Russian oil, but oil is already above the $100 this morning. The upside potential is fading due to slower global growth prospects, and the Chinese lockdown. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Watch the full episode to find out more! 0:00 Intro 0:24 All eyes on US inflation data! 2:30 Market update 3:50 Strong US dollar threatens lira stability 5:50 Risks in energy markets remain tilted to the upside 6.35 Why Chinese zero Covid policy won’t work 8.07 Coinbase hit hard by crypto meltdown 8:39 Energy, still the best option for investors Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.  
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Crypto Games: Interesting Game Rewarding Players - Kara Star (KARA) - What Is It? | KuCoin

Kucoin Blog Kucoin Blog 11.05.2022 17:36
Table of contents · What is KaraStar (KARA) ? · How does KaraStar (KARA) work? · What makes KaraStar (KARA) unique? · Who created KaraStar (KARA)? · Closing thoughts As the world continues shifting to the digital age, more and more people are finding it pertinent to focus their lives on the metaverse. According to research, the metaverse was worth $63.83 billion in 2021. Analysts predict that this value will rise above $100.25 billion by the end of 2022 and hit $1.53 trillion by 2029.   Looking to make a statement in the rapidly growing space, KaraStar seeks to project real-world economic value on a virtual game. The KaraStar virtual world empowers creators to develop a one-of-a-kind Play-to-Earn (P2E) ecosystem.   Through this game model, KaraStar allows gamers to stay entertained, earn money and find peace and love by acting as masters to pets dubbed Kara. By combining an opportunity to earn and positive emotions in one game, KaraStar aims to attract numerous players to build a virtual universe together.   How Does KaraStar (KARA) Work? KaraStar runs on BNB Chain, formerly Binance Smart Chain (BSC). In the game, players are considered creators. The KaraStar game currently features two modes. These are player-versus-player (PVP) and player-versus-environment (PVE). Under PVE lies Dungeon gameplay, where players obtain bonuses in UMY tokens by exploring maps and killing monsters.   On the other hand, PVP includes battling in arenas and tournaments. This mode is suitable for comKarasitive games, which display a player’s understanding and strategy of the game. KaraStar plans to offer crypto worth tens of millions for players participating in the comKarasition.   To start participating in PVP or PVE games, players need to buy three or more non-fungible tokens (NFTs). Through the earned UMY, players can choose to breed or evolve their Karas. Evolving a Kara involves either burning UMY or devouring other NFTs. Each Kara has a limited number of times it can breed to avoid overpopulation.   The game is based on the KaraSpace galaxy, which boasts 12,801 planets that serve as irreplaceable resources. KaraSpace features three categories, Superpower, Nature, and Melee. Each category has different Kara attributes. Under Superpower lies light, electricity, and fire. Nature comprises dragon, ghost, and fairy. Melee features rock, steel, and poison.   Out of the 12,801 planets, 10,000 are resource planets, and 2,000 are creation planets. There’s only one Mother Planet, which is the primary carrier of game operations. However, KaraStar has not yet launched the Mother Planet.   The Mother Planet has 255,255 plots. Each plot is encompassed by 33 grids. Once players acquire plots as private property, they can build their Kara Kingdoms. Players will need UMY to purchase maternal resources. There are five types of land on the Mother Planet. These are central, forest, north pole, desert, and high-tower. Each type of land has different treasures.   The Mother Planet and Lands mode will run as a multiplayer Simulated Life Game (SLG). Players will be able to make friends or compete with other players across the globe. Additionally, they will be able to harvest equipment fragments to boost the power of their Karas to earn more KARA tokens.   What Makes KaraStar (KARA) Unique? The KaraStar ecosystem leverages a dual-token economic system. The UMY token fuels the whole KaraStar metaverse. UMY also serves as the foundation of the KaraStar world to achieve stability and peace. Additionally, UMY is used to power the staking and mining of KARA. Creators generate UMY every time they engage with the game.   On the other hand, KARA is the governance token in the KaraStar ecosystem. One KARA is equivalent to one ticket in the ecosystem’s decentralized autonomous organization (DAO). DAO members can vote on the ecosystem’s governance by staking their KARA. Apart from governance, creators can use KARA for in-game payments.   Additionally, creators holding KARA can earn more rewards by staking their holdings for mining in the farm pool. Players can get KARA through airdrops, buying in the market, or obtaining the token in the upcoming MotherLand mode.   The KaraStar DAO seeks to support community builders. Unlike other DAOs, the KaraStar DAO offers careers for all community contributors. After surveying many pre-DAO members, KaraStar decided to establish the House of Lords and the House of Commons.   In doing so, the project offers DAO members a career path. Additionally, this setup helps provide structural momentum for the stability and growth of the DAO.   KaraStar also features a scholarship platform, which offers customer-to-customer (C2C) scholarships. Providers can list the scholarships on the KaraStar website and recruit scholars. KaraStar then rewards contributors with bonuses in the scholarship program.   To ensure the stability of token prices, KaraStar will regularly burn UMY. Specifically, the project aims to burn 80% of the UMY consumed in the game.   Who Created KaraStar (KARA)? KaraStar Technology PTE. LTD, a Singapore-based blockchain game developer, created KaraStar. The company has a rich team featuring game development engineers from Zynga and ROBLOX, seasoned blockchain experts, and Wall Street mathematical actuaries.   At the helm is CEO Dustin, who previously served as the Project Manager for Apple in the Asia-Pacific region. He also has experience in marketing, entrepreneurship, and blockchain mining, among other fields.   Kate Kryvonos serves as the company’s COO. She has over five years of blockchain marketing strategy and leadership experience. Before joining KaraStar, Kryvonos spent four years leading open-source blockchain and cryptocurrency projects like NEM.io Foundation Ltd and the Symbol blockchain.   The firm’s CTO is Kumar, who has experience working as a product manager and program developer for leading game companies like Zynga and Electronic Arts (EA). He has seven years of experience in game development and two years of experience in blockchain product development.   Closing Thoughts As a P2E metaverse game, KaraStar offers players a chance to stay entertained while earning. Additionally, the project’s Social-Fi capabilities allow gamers to connect across the globe. Coupled with a healthy economic model, these features help the project position itself for long-term success.   Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange_New Subscribe YouTube Channel >>> https://www.youtube.com/KuCoinExchange Download KuCoin App >>> https://www.kucoin.com/download Source: KuCoin
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Binance Academy: Crypto Fear And Greed Index Explained

Binance Academy Binance Academy 11.05.2022 20:39
TL;DR The Crypto Fear and Greed Index provides a score of 0 to 100 for crypto market sentiment. It’s based on the CNNMoney Fear and Greed Index for analyzing the stock market.  Fear (a score of 0 to 49) indicates undervaluation and excess supply in the market. Greed (a score of 50 to 100) suggests an overvaluation of cryptocurrencies and a possible bubble. Noticing changes in the level of fear and greed can become part of your trading strategy when choosing to enter or exit the crypto market.   Introduction When deciding if you should buy in or sell out of the crypto market, a good trader or investor will always look for supportive data. There are charts to look at, fundamentals to analyze, and market sentiment to tap into. However, studying every metric and index available isn't the most efficient use of time. With the Crypto Fear and Greed Index, a combination of sentiment and fundamental metrics provide a glimpse of market fear and greed. While you should not rely on this indicator alone, it can help you figure out the overall feeling of the cryptocurrency markets.    Learn more on Binance.com What is an index? Traditionally, an index takes multiple data points and combines them into a single statistical measure. You might have already heard of the Dow Jones Industrial Average (DJIA), a famous index that tracks the stock market. The DJIA is a price-weighted combination of 30 large companies listed on numerous stock exchanges in the U.S. Traders and investors can buy DJIA to get a combined exposure to these companies' stocks. The Crypto Fear and Greed Index is also a weighted measure of market data, but that's where the similarities end. The Crypto Fear and Greed Index is not something you can purchase nor any kind of financial instrument. It’s just a market indicator that can complement your analysis.   What is a market indicator? Market indicators make it easier for traders and investors to analyze market data. Indicators exist in all forms of market analysis: technical analysis, fundamental analysis, and sentiment analysis. If you've experimented already with technical analysis (TA), you've probably already got some experience with indicators. These range from simple moving averages to complex chart patterns like Ichimoku Clouds. TA indicators are concerned with analyzing prices, trading volume, and other statistical trends. Fundamental analysis indicators take a different approach. When you research a token or stock, you’re essentially trying to determine the underlying fundamental value of the project. For example, your research could include the number of users and total market value combined into an indicator. In addition, we have market sentiment indicators that measure the feelings and thoughts of investors and traders. The Crypto Fear and Greed Index is just one of many. Other examples include The Bull & Bear Index from Augmento and WhaleAlert that tracks large transfers from whales in crypto markets. To an extent, crypto research relies heavily on analyzing social media, the community, and public opinion. For this reason, sentiment analysis can come in handy for this asset class.   What exactly is a Fear and Greed Index? CNNMoney originally created the Fear and Greed Index to analyze market sentiment for stocks and shares. Alternative.me have since then made their version tailored to the crypto market.  The Crypto Fear and Greed Index analyzes a basket of different trends and market indicators to determine whether the market participants are feeling greedy or fearful. A score of 0 indicates extreme fear, while 100 suggests extreme greed. A score of 50 shows the market is somewhat neutral. A fearful market could be an indication that cryptocurrencies are undervalued. Too much fear in a market can lead to overselling and excess panic. Fear doesn't necessarily mean that the market has entered into a long-term bearish trend. Instead, you can think of it as a short or mid-term reference to overall market sentiment. Greed in the market is the opposite situation. If investors and traders are greedy, there's a possibility for overvaluation and a bubble. Imagine a situation where FOMO (fear of missing out) causes investors to pump the markets, overvaluing Bitcoin’s price. In other words, the increased greed may lead to excess demand, artificially inflating the price.   How does the Crypto Fear and Greed Index work? Each day, Alternate.me calculates a new value from 0 to 100. As of July 2021, the Crypto Fear and Greed Index only uses Bitcoin-related information. The reason behind this is BTC's significant correlation with the crypto market as a whole when it comes to price and sentiment. There are plans in the future to cover other large coins, presumably including Ether (ETH) and BNB.     You can divide the index's scale into the following categories: 0-24: Extreme fear (orange) 25-49: Fear (amber/yellow) 50-74: Greed (light green) 75-100: Extreme greed (green) The index calculates the value by combining five different weighted market factors. Let's take a look: 1. Volatility (25% of the index). Volatility measures the current value of Bitcoin with averages from the last 30 and 90 days. Here, the index uses volatility as a stand-in for uncertainty in the market. 2. Market momentum/volume (25% of the index). Bitcoin's current trading volume and market momentum are compared with the previous 30 and 90-day average values and then combined. Constant high-volume buying suggests positive or greedy market sentiment. 3. Social media (15% of the index). This factor looks at the number of Twitter hashtags related to Bitcoin and, specifically, its interaction rate. Typically, a constant and unusually high amount of interactions relates more to market greed than fear. 4. Bitcoin dominance (10% of the index). This input measures BTC's dominance of the market. Increased market dominance shows new investment into the coin and the possible reallocation of funds from altcoins. 5. Google Trends (10% of the index). By looking at Google Trends data for Bitcoin-related search queries, the index can provide insights into market sentiment. For example, a rise in "Bitcoin Scam" searches would indicate more fear in the market. 6. Survey results (15% Index Score). This input is currently paused and has been for some time.   Why is the Crypto Fear and Greed Index useful? The Crypto Fear and Greed Index can be a valuable tool for checking market sentiment changes. Large swings may provide an opportunity to enter or exit before the rest of the market follows the trend. We can see a brief example of this by checking the last three months of total cryptocurrency market cap versus the index figures.     Point 1 shows April 26, 2021, the bottom of a significant swing in the index value from 73 (Greed) to 27 (fear). Point 2 shows the start of another slide on May 12, 2021, from 68 (greed) to 26 (fear). We can see if this has matched with the crypto market by comparing these changes with the overall crypto market capitalization.     Point 1 again shows April 26 starting at $1.78 trillion (USD) before climbing up to a peak of $2.53 trillion on May 12. If you combine this with what we see above, you see a large swing in sentiment from greed to fear coinciding with a local bottom in the crypto market cap. As the market becomes more greedy, the overall market cap rises until it reaches its maximum. At the maximum, sentiment once again sharply drops. With our example, the index has proven helpful in finding a buying opportunity and predicting a sell-off in the market. Using the index, you can check whether your emotional reactions are overblown or in line with the market. But will it always be helpful for every situation? More than likely, no.   Can I use the index for long-term analysis? The indicator doesn’t work as well on long-term analysis of crypto market cycles. Within a bull or bear run, there are multiple cycles of fear and greed. These switches are useful for swing traders to take advantage of. However, for investors who want to hold, it will be difficult to predict the change from a bull to a bear market just from the index. You will need to analyze other market aspects to get a long-term perspective. As always, recommended advice is that you don't rely solely on one indicator or style of analysis. Make sure to do your own research (DYOR) before investing any money and only invest what you can afford to lose.     Closing thoughts The Crypto Fear and Greed Index is a simple way to gather and summarize a whole range of fundamental and market sentiment metrics. Rather than have to do this yourself, you can rely on the indicator to track social media, Google Trends, and other statistics. If you want to include it in your analysis, consider complementing it with other metrics and indicators to get a more balanced view.
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Crypto Crash!? Bitcoin (BTC/USD) Managed A Small Bounce In The Bear Trend, (XRP) Ripple broke the 100 week moving average at 6700/6750 | DayTradeIdeas | 12/05/2022

Jason Sen Jason Sen 12.05.2022 10:47
Bitcoin managed a small bounce in the bear trend to my 32000/32100 level & collapsed again as expected in the bear trend. Obviously outlook remains negative. Ripple broke the 100 week moving average at 6700/6750 & then 9 month trend line support at 5680/40 as predicted for another sell signal targeting 4300/4250. No trouble hitting that target!! We have hit 3450 & of course the outlook remains negative with further significant losses expected. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Ethereum broke the 500 day moving average at 2800/2750 as predicted for an important sell signal hitting all downside targets as far as 1920. A huge profit ion shorts & outlook remains negative with further significant losses expected as panic sets in. Today's Analysis Bitcoin break below 28600 is our next important sell signal as we hit 27000. Huge profits on our shorts this week. Further losses are expected of course, as we look for 25800/700 & 24400/200, eventually as far as 21900/700. Gains are likely to be limited as I always write!! Resistance at 28800/29000 & 30000/30200. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100.  Ripple panic has set in & I imagine stops have been triggered after important levels were broken as we target 3400, 3200, 300 & eventually 2500. Huge profits on our shorts this week. Ethereum crashed after my new sell signal to my target of 1920. Next target is the 8 month trend line support at 1800/1700. I would not try longs myself. A break below here is obviously another important sell signal. Losses could then accelerate to the downside. We could hit 1300 very quickly. Gains are likely to be limited with strong resistance at 2100/2200. Shorts need stops above 2300. 2900/2950. Shorts need stops above 3000. A break higher is a medium term buy signal.   To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk
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(USDT) Tether's Not That Stable? JPY Goes Higher, How Will It Perform Against US Dollar? | Saxo Bank

Saxo Bank Saxo Bank 12.05.2022 15:42
Summary:  Fires are springing up everywhere and it feels like markets are under siege, but the volatility curve doesn’t even look particularly alarming yet. We focus on the areas that could continue to keep markets on tilt, including the breaking of the largest "stable" coin Tether already in evidence today after Bitcoin melted through a huge chart level yesterday, the Hong Kong dollar peg under pressure, the Tesla-Bitcoin-Ark triangle, etc. In FX, the focus is on the jolt higher in the JPY even more so than the ongoing USD strength, while commodity traders have it relatively easy on the volatility front. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX. Listen to today’s podcast and have a look at today’s slide deck. Follow Saxo Market Call on your favorite podcast app: Apple  Spotify PodBean Sticher If you are not able to find the podcast on your favourite podcast app when searching for Saxo Market Call, please drop us an email at marketcall@saxobank.com and we'll look into it.   Read next: Saxo Bank: Markets are assessing the global growth outlook and the pace of Fed tightening| FXMAG.COM   Questions and comments, please! We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.   Read next: Philip Morris Buys Match, Fed Members Spills The Tea And Gold Price Nears Quite Low Values | Saxo Bank| FXMAG.COM   Source: Saxo Bank
Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol

Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol

Rebecca Duthie Rebecca Duthie 12.05.2022 15:35
Summary: Polkadots aims and desires. A deeper look into how Polkadot works. Past, Present and Future Prices of Polkadot. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol  What is the Polkadot protocol? Polkadot is an open-source protocol built for everyone, it is founded by the Web3 foundation. The Web3 foundation has commissioned 5 teams and over 100 developers to build Polkadot. The Polkadot mission is: they envision a Web where their data and identity is their own and where safety is ensured from any central authority. Polkadot supports the ease of creating and connecting decentralised applications, institutions and services. Through empowerment of investors to build better solutions, they are seeking to free society from the grip of a broken web whereby institutions have the chance to break trust. The aim of Polkadot is to enable a completely decentralised web whereby the users are incontrol. The protocol is built to connect private and consortium chains, oracles, public and permissionless networks and future technologies that are yet to be created. Polkadot protocol offers parachain messaging, this refers to parachain-to-parachain communication, this is Polkadots version of inoperability. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100.  Polkadot launched their DOT token in May 2017. DOT plays an active role in securing the Polkadot network. The DOT token has around $8.3 billion in market capitalization, a circulating supply of more than 1.6 billion tokens and does not have a maximum supply. Polkadot features: True interoperability: Polkadot allows cross-chain transfers of any type of asset or data, users are not limited to token only transfers. When users become a part of the Polkadot network, they open themselves up to a wide variety of blockchain networks. Economic and transactional scalability: unprecedented scalability is provided by Polkadot through the enablement of a common set of validators which have the ability to secure multiple blockchains. Transactional scalability is provided through spreading transactions across multiple parallel blockchains. Easy blockchain innovation: users can create a custom blockchain quickly by using the substrate framework. Once users make their own blockchain, they can connect it to Polkadot and get interoperability and security from the get-go. This ease of development is a major factor helping the Polkadot network grow. Security: Polkadots novel data validity and ability allows the interaction between chains, whilst maintaining independence in their governance but united in their security. User-driven governance: Polkadot maintains a sophisticated governance system, whereby all stakeholders have a say. Network upgrades are coordinated on-chain and autonomously without forking the network. This ensures that Polkadots development remains community-driven and future proof. Advantages of Polkadot: High energy efficiency: in comparison to conventional blockchains, the energy consumed by Polkadot is much less. This energy efficiency is as a result of its next-generation nominated proof-of-stake (NPoS) model. This NPoS uses the equivalent of 6.6 Us households' energy per year. The Polkadot platform has the lowest carbon footprint amongst proof-of-stake protocols analysed in recent research. High security The proof-of-stake network refers to the ability of cryptocurrency owners to validate block transactions based on the number of coins a validator stakes. About the DOT Token: The DOT token was created by the Polkadot protocol and is designed to serve 3 distinct purposes: Governance: the Polkadot token holders have full control over the protocol. The privileges on platforms that are normally only available to minors are given to DOT holders, including managing exceptional events such as protocol upgrades and fixes. Staking: Polkadot uses game theory to incentivise token holders to behave honestly. Those who do not exercise honest behaviour will lose their stake in the network, whereas those who exercise honest behaviour are rewarded by the game theory mechanism. Bonding: new para-chains are added by bonding tokens. Outdated parachains or those that are no longer useful and removed by removing bonded tokens. This bonding represents a proof-of-stake. Where to buy Polkadot (DOT) The DOT token is currently available on many of the major platforms such as Binance, Huobi Global, OKEx, Coinbase, KuCoin and more. Past, Present and Future Prices: We already know that the cryptocurrency market is volatile, this is reflected in the chart below. In the past the price has jumped up and down, with the data it is hard to read a trend for the price of DOT. Currently, the global market conditions have investors turning away from risky assets such as cryptocurrencies, and turning to safer assets. For the future, the price of the DOT token is expected to increase, with some analysts expecting the price to reach over $64 in 5 years time. However, given the volatility in the crypto market, it is difficult to make an accurate assumption on where the price of DOT will go. Polkadot (DOT) Price Chart Read next: Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform  Sources: finance.yahoo.com, polkadot.network, coindesk.com, coinmarketcap.com, capital.com
(UST) Terra Luna crashes and further shakes confidence in the entire crypto market

(UST) Terra Luna crashes and further shakes confidence in the entire crypto market

Walid Koudmani Walid Koudmani 12.05.2022 15:35
Terra Luna Crashes The recent crash of one of the most well known cryptocurrencies has added to the widespread panic that has been surrounding the risky asset class. The fall started while the company's stable coin, UST, was unable to maintain its parity with the USD and quickly tumbled as more investors opted to save whatever they had left and exit their positions. While Terra Luna is not the only crypto to be dropping significantly in the last few days, with the entire top 100 down around 30-50% and market cap falling to $1,19 Trillion, it is certainly one of the most prominent examples seen to date of a complete collapse. This event has deeply shaken investor confidence in the asset class and has even led to the most prominent stable coin , USDT losing its 1:1 ratio with the USD. As the situation continues to evolve it seems like this could be the beginning of a significant realignment in the crypto industry as investors either exit their positions or re-evaluate them in search of some sort of a safe haven amid a widespread crash. It is important to note though that the majority of risk-on assets have been deeply impacted by worsening global economic conditions and central bank policies so while this situation is not exclusive to crypto's it is certainly most prominent with them. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM UK GDP report disappoints and pressures GBP and FTSE100 The UK GDP report was released at 7:00 am BST and turned out to be a huge disappointment with the report showing a 0.8% QoQ expansion in Q1 2022 while the market expected an expansion of 1% QoQ. However, March's monthly GDP reading was the biggest disappointment with the monthly reading which was expected to show a 0.1% expansion from February levels and instead showing a 0.1% MoM contraction. March was the first full month since the beginning of the Russia-Ukraine conflict and could be seen as a potential sign of economic difficulties to come. Investors reacted negatively to this news with both the British Pound and FTSE100 taking a hit as the global sentiment continues to shift more towards risk-off   Furthermore, the Bank of England warned that tightening and current geopolitical developments are likely to push the UK economy into recession. Investors reacted negatively to this news with both the British Pound and FTSE100 taking a hit as the global sentiment continues to shift more towards risk-off. Read next: Tech Stocks Plunging!? Trade Desk Earnings Announcement Pushes Tech Giant Stock Down, Russian Ruble Strengthening and Ford Motor Co. 
Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Stablecoins losing stability – is Tether losing its peg too? | Saxo Bank

Saxo Bank Saxo Bank 12.05.2022 16:15
Summary:  Over the past couple of days, UST, one of the major crypto stablecoins, completely lost its peg with the US dollar, and today the biggest stablecoin, Tether, has shown signs of a similar trend. In this article, we zoom in on the difference between three of the biggest stablecoins and discuss the potential impact that de-pegging may have on the general crypto market. - co-written by Mads Eberhardt, Cryptocurrency Analyst Stablecoins are crypto tokens that have their value pegged to another currency or asset. The most popular stablecoins are USDT (Tether), USDC, and UST (Terra), which all are created to have the value of $1. Apart from providing crypto traders with a store-of-value within the crypto space linked to fiat currencies, stablecoins play important roles in many of the decentralized applications build on blockchain technology and cryptocurrencies. Read next: Saxo Bank: Markets are assessing the global growth outlook and the pace of Fed tightening| FXMAG.COM The crash of the Terra stablecoin in the beginning of the week has shaken the crypto markets, and UST is currently trading at $0.60 - way below $1.00. This morning the contagion spread to the rest of the stablecoin space with USDT dropping as low as $0.96, however bouncing back to $0.99 this afternoon. It should be noted that other stablecoins are trading above $1.00 as they seem to be receiving value from some of the unpopular stablecoins. Source: Coinmarketcap.com Stablecoin collateral To understand why the stablecoins are suddenly not stable anymore, it is crucial to understand the collateral type for the different stablecoins. We focus on the three mentioned above. Terra (UST) relies on a swap function to maintain its peg through an associated crypto token, LUNA, as 1 UST can always be swapped for $1 worth of LUNA. We elaborate more in the appendix below. But in short, UST is not collateralized by anything other than the market’s belief that LUNA will always have value to some and thus always have interested buyers, and this belief is anyway closely related to the value they see in UST. This belief from the market in LUNA is exactly what is missing right now, disabling the pegging mechanism. During Terra’s recent rally, many also criticized Terra for basically being non-collateralized due to this structure, as it does not have any backing in physical assets. Read next: Philip Morris Buys Match, Fed Members Spills The Tea And Gold Price Nears Quite Low Values | Saxo Bank| FXMAG.COM The second-largest stablecoin USDC is, however, backed 100 % by reserves in cash and cash equivalents such as short-term highly liquid investments. This is fundamentally different from the collateral in UST, and USDC is thus seen as a much more stable peg to the US dollar. The largest stablecoin, Tether, does reportedly have around 85% of its reserves in cash and cash equivalents and the rest in other assets such as corporate bonds and other digital tokens. However, Tether has earlier faced controversies when it comes to transparency around its dollar reserves, so the market has for years questioned what assets its reserve consists of and whether Tether in reality keeps full reserve to back its stablecoin. These controversies are likely what is driving stablecoin investors away from USDT, as the event of UST has refreshed the market’s memory of Tether’s lack of transparency with respect to its reserve. The sell-off in USDT this morning occurred even after the CTO of Tether posted on Twitter that they were continuing to honor USDT redemptions at $1 and that the redemption of more than $300mn has been carried out over the past 24 hours. And as it looks for now, Tether is making a comeback towards the $1.00 level. Regulators may become more harsh The whole narrative of Bitcoin and especially stablecoins is now heavily under pressure, although it is important to emphasize that not all stablecoins are currently under pressure – only those where investors doubt the collateral mechanism. But it is not only investors, who are worried. Regulators and policymakers are still working on national and international regulations for the cryptocurrency space, and fear is now that the regulatory framework will be even more strict, and it could limit some of the existing use-cases for cryptocurrencies. In case potential applications for cryptocurrencies are constrained, the sentiment will likely go down as well. Appendix - Additional reading for those interested in the Terra: Terra had over $18bn worth of stablecoin issued prior to the bank run of its stablecoin. For Terra, there are two tokens. Its stablecoin called TerraUSD (UST) and LUNA. LUNA has no value other than the fact that you can always create and redeem 1 TerraUSD (intended to be worth $1) for $1 worth of LUNA and vice versa. When you create TerraUSD, the LUNA is burnt and TerraUSD is created. When you redeem TerraUSD, it is burnt and LUNA is created. Since you are paying or receiving $1 worth of LUNA for every TerraUSD you create or redeem, people are intended to arbitrage, so TerraUSD is as close to $1 at all times. For instance, let us say TerraUSD falls to $0.95. By buying TerraUSD at $0.95, you can technically redeem it for $1 worth of LUNA, selling it for fiat and earning 5 cents. As mentioned above, TerraUSD is not collateralized by anything other than the market’s belief that LUNA will always have somewhat of a value, which belief is anyway closely related to TerraUSD. Since Terra started gaining momentum last year, people have criticized this structure, as it is basically non-collateralized. The Terra foundation responded by buying $1.5bn worth of Bitcoins at the beginning of this year to show some collateralization. This means that Terra was suddenly solely around 10% collateralized in another highly volatile asset and due to the fact that the foundation controlled the small collateralization there was, Terra was suddenly not that decentralized. Over the weekend, some traders started selling a lot of TerraUSD to un-peg it from the dollar, among some other things. When the un-peg occurred, people started to redeem TerraUSD for $1 worth of LUNA and sell LUNA to fiat to cover their position. This LUNA is created by new and when dumped on the market, the price of LUNA plunges. When the next redeems TerraUSD for LUNA, they need to get credited by even more LUNA. Suddenly not only TerraUSD holders are pushing the LUNA price down, but other traders see it and go short LUNA, pushing the price further down. Now, you have the death spiral. LUNA plunges even more, while more and more LUNA is needed to be issued to redeem one additional TerraUSD. At the same time, there is a cap on how many can redeem TerraUSD to $1 worth of LUNA per hour. People that cannot redeem it start to get nervous and dumps TerraUSD directly to USD or other assets on exchanges, de-pegging it further from $1. As this happens, few want to do arbitrage, because they cannot instantly redeem it for LUNA and sell it for fiat since there is a maximum the protocol can redeem per hour. LUNA's supply has increased 20-fold in the past few days from around 346mn to 7.1bn LUNA to redeem some of its TerraUSD supply. At the same time, its market capitalization has plunged by over 99%. LUNA currently has a market capitalization of $138mn, but technically it still needs to redeem 12bn TerraUSD for $1 each. This means that LUNA is going through hyperinflation, if it will be possible to redeem every UST at all since there is close to no demand for LUNA. Source: Saxo Bank
The US Has Again Benefited From Military Conflicts In Other Parts Of The World, The Capital From Europe And Other Regions Goes To The US

Fast rising U.S. CPI data adds to equity market woes | Saxo Bank

Saxo Bank Saxo Bank 12.05.2022 16:22
Summary:  The larger than expected April U.S. CPI and core CPI reversed the attempt of the equity market to rebound and brought major U.S. equity indices firmly back onto their down trends. The surprising strength in services is particularly worrying and the money market is pricing in 143 bp hikes (i.e. almost three 50 bp hikes) in the next three FOMC meetings. What’s happening in markets? What spooked markets overnight was US inflation rose more than expected, which gives the Fed more ammunition to rise rates (more than they mapped out). Rising rates will cause further carnage, as when rates rise, bond yields tend to rise, which may trigger the US 10-year bond yield, to rise back over 3%,  (which is a better yield than the Nasdaq and S&P500 combined – just think about that for a second). As such the Nasdaq (with an average dividend yield of 0.9%) continued to fall and lost 3.2%. The Tech heavy index is down 28% from its high, and the technical indicators suggest it will likely continue to fall on a weekly and monthly basis, which supports our bearish fundamental view. The S&P500 lost 1.7% on Wednesday, (it has an average dividend yield of 1.66%). The U.S. treasury yield curve flattened 13 bps since yesterday’s CPI release.  The 10-year yield fell 10 bps to 2.89% while the 2-year yield rose 3 bps to 2.64%. It is worthwhile to note that the 10-year yield has fallen 30 bps in just three days from its May 9 high of 3.20%.  The treasury market is sending signals of investors being worried about a sharper slow-down in the U.S. economy.  In Australia, the Aussie share market fell 1% and hit a support level 6,991 points, but energy companies hit new highs. If the ASX200 falls further bellow this level, it could fall 2.2% to the next support (at 6,837 points). The technical indicators, suggest this could occur, with the MACD and RSI suggesting a weekly and monthly could pull back. We ideally need to see better than expected news to break the cycle. All in all though, it’s worthwhile continuing to back those stocks that are outperforming and are likely to outperform this trajectory, with rising cashflow and earnings growth. Just take a look at today’s best performing stocks as an example. In Energy there is Ampol (ALD) up 3.5% with its shares hitting a 2-year high, and Viva Energy (VEA) up 3% to its highest level since 2019. China and Hong Kong equity markets rebounded from their lows. After a weak opening, stocks traded in Hong Kong, Shanghai and Shenzhen rebounded from their lows.  Hang Seng Index (HSI.I) was down  1% and CSI300 (000300.I) recouped all its early loss to close the morning session flat.  Infrastructure related A share, in particular county seat modernization names rallied.  Sunac China, China’s 4th largest property developer, failed to make a coupon payment of a dollar bond.  The news pushed down the shares of other Chinese developers traded in Hong Kong. Asia stocks follow Wall Street down. Japan’s Nikkei (NI225.I) was down 1% in the Asian morning following US CPI release overnight and the slide in US indices overnight. Steel makers like Japan Steel (5631) and Kobe Steel (5406) surged in a big way after earnings results and profit outlook was better than expected. Singapore’s STI Index (ES3) was also in the red. Singtel (Z74) was up over 1% leading on the index as it broadened its 5G network to underground metro line. Chinese electric car maker Nio (NIO) is going to start trading on the Singapore stock exchange form May 20. FX range trading continues. The USD had a hard time reacting to the US inflation print, suggesting range trading patterns may continue for now. While USDJPY slipped below 130 on lower real yields, EUR was still unable to overcome inflation and growth worries even with Lagarde hinting at a rate hike for July on stickier inflation, it dipped slightly to remain above 1.05 support. AUDUSD’s move above 0.7000 was not sustained and NZDUSD returned to sub-0.6300. GBPUSD is making a steadier move below 1.2300 ahead of UK GDP release. What to consider? US inflation may have peaked but the descent will be slow and painful. April U.S. CPI came at 8.3% YoY.  Core CPI, which excludes food & energy,  was 6.2% higher from a year ago.  Reiterating what we said in this piece, while headline inflation may be showing signs of peaking as base effects turn, it is likely to stay at these elevated levels. It was important to note that the 0.6% monthly increase of Core CPI  has brought inflation back to the uncomfortably high 0.5%-0.6% range from October 2021 to February 2022, after a temporary moderation in March.  Another worrying sign was the +0.7% core service price, which was the highest since 1990. Regular rents and owner-equivalent rents rose faster than expected and prices of reopening related spending, such as airfares and hotel lodging rose sharply. The US consumer remains very strong, which gives pricing power to companies. Services inflation will also broaden further, suggesting we are in for a higher-for-longer mode. Take into the mix, a prolonged war, sustained disruptions from China and still-tight labor market. This means Fed’s hawkish rhetoric is set to stay. The money market has moved towards pricing in a 50bp hike in the Sept FOMC on top of the two 50bp moves anticipated for June and July. Oil bulls pin their ears back: Both the Saudi oil Chief and UAE have warned that all energy sectors are running out of capacity, which supports our view that the oil price will hit higher levels over the longer term and also once China is out of lockdown. That being said, Saudi Aramco (ARAMCO) has strengthened regardless, along with many other oil companies, as their cashflows are rising at record paces. ARAMCO has now overtaken Apple as the world’s most valuable company. As we have been saying for some time now, it’s wise to consider revisiting oil stocks and oil ETFs. For instance, the ETF OOO that tracks the oil price, looks like it could break above a key trigger level and re-enter another uptrend, so that’s worth consideration. Also have a look at your favorite large oil stocks with rising earnings growth. Malaysia’s rate hike will be a signal for the region. Bank Negara Malaysia started the rate hike cycle yesterday as we had expected, turning away from its patient stance in April. This comes on the back of a similar rate increase decision from the Reserve Bank of India last week in an out-of-cycle meeting. Ringgit interest rate swaps are now pricing in over 75-basis points of rate hikes over the next 6 months. This similar surge in hawkish pricing is being seen across emerging Asia, suggesting more pain for EM bonds. Potential trading ides that could be worth your consideration? US dollar and US dollar ETFs move higher. As mentioned last week the USD dollar is supported higher along with US dollar ETFS. The Invesco USD Index Bullish Fund ETF closed at a brand new record high overnight. BetaShares USD ETF is also hitting higher levels and looks like. As previously mentioned, also as our head of FX Strategy also said, we are bullish on the USD, as higher volatility and bond yield are expected. This supports the USD and USD ETFs. BTC s in a bearish long term downtrend pressured by long term yield rising. For investors it could be worth considering shorting Bitcoin given rates are likely to continue to rise for now. Buy USDHKD 12-month forward. HKD interest rates are set to rise towards or even go above those of the USD as the Hong Kong Monetary Authority (HKMA) withdraw HKD liquidity in its move to buy HKD against USD.  As the USDHKD spot rate touches 7.85, which is the weak-side convertibility undertaking of the HKMA, the HKMA intervened by buying HKD versus the dollar this morning.  Given the strength of the US dollar and the weak economic sentiment in Hong Kong and the mainland, it is likely that the HKMA will have to continue to intervene and withdraw HKD liquidity further.  Given the ample ammunition that the HKMA has in defending HKD’s Linked-exchange Rate Regime, investors who are interested in betting on persistent weakness in the HKD would be better off to take a long position of USDHKD 12-month forward (currently at around 7.83) which can go up as HKD interest rate rise even when the spot being capped at 7.85.  Key economic releases this week: Thursday: India April CPI, US April PPI Friday: US Univ of Michigan sentiment, US import price index   Key earnings release this week: Thursday: Verbund, KBC Group, Brookfield, Fortum, Siemens, Allianz, Merck, Hapag-Lloyd, RWE, Atlantia, Snam, NTT, SoftBank Group, Aegon, Naturgy Energy, Motorola Solutions Friday: Deutsche Telekom, KDDI, Honda Motor, Alibaba   For a global look at markets – tune into our Podcast.  Source: Saxo Bank
Analysis Of The Ripple (XRP) Price Movement

Altcoins: Where Ripple (XRP) Price Could Bottom And How To Reenter The Market

FXStreet News FXStreet News 12.05.2022 16:35
XRP price is hovering around the $0.395 weekly support level, trying to discern the directional bias. A breakdown of this barrier could knock Ripple by 50% to the volume point of control at $0.186. If buyers manage to recover above the $0.621 barrier, it will invalidate the bearish thesis. XRP price shows an interesting outlook as it crashes below multiple support levels on a weekly time frame. This bearish outlook is inescapable as the LUNA-UST kingdom collapses. The domino effect is not just felt by BTC but also by the entire ecosystem. Despite the brutality witnessed over the past week, more could be around the corner, which could drive Ripple further down. XRP price at make or break levels XRP price has been producing lower highs since April 12 swing high at $1.96, with the swing lows forming a base around the $0.621 support level. This consolidation was seen for over a year before a decisive breakdown was seen in the second week of May. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Since then, XRP price has crashed 32% to where it currently trades at $0.382. The massive downturn comes as the entire crypto market is in a selling frenzy after the 98% crash in LUNA price due to the instability of the UST peg. While the $0.395 weekly support level seems to have it under control, things are not as simple as they seem from the outside. As Bitcoin hovers around $28,200, the chances of a relief rally are high, especially since it has dipped into most of the 2021 liquidity pools. However, a further descent in the big crypto’s market value will cause XRP price to shatter the aforementioned support level. The remittance token could then crash by 53% to retest the volume point of control at $0.186 for the price action since 2017. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM This point is where the highest volume for XRP price was traded since 2017, making it a critical inflection point. Thus, the $0.186 level will likely serve as stable support and see accumulation come into the picture. Regardless, the point still stands – a 50% crash is on the cards for XRP price if it fails to hold above the $0.395 foothold. XRP/USD 1-week chart Further representing the grim and oversold nature of XRP price is the 365-day Market Value to Realized Value (MVRV). This on-chain metric determines the average profit/loss of investors that purchased XRP over the past year. A negative value indicates that the market participants are at a loss and are less likely to sell, representing an opportunity to accumulate for long-term holders. Historical data notes that the recent sell-off for XRP price puts the 365-day MVRV at -53%. These levels were last seen in October 2015, when Ripple was hovering around $0.0046. This outlook represents the massively unprecedented sell-off and, from a long-term perspective, could be a good place to accumulate. Still, a further crash in Bitcoin price could completely annihilate the current support level and knock the remittance token down by 50% XRP 365-day MVRV It is worth noting that if the bulls manage to kick-start a recovery at $0.395, pushing Ripple toward $0.621, it may encourage sidelined investors to reenter the market. Under these conditions, buyers would have to push XRP price above the $0.621 barrier on a weekly chart to invalidate the bearish thesis. This development could propel the remittance token to sweep the $0.917 equal highs formed on February 7 and March 28.  
GBP: Dovish Wage Developments Lead to Lower Sterling Prices

Ether (ETH), (BTC) Bitcoin, LUNA, NFT - They All Plunge! Crypto Market Crash Aka "Cryptogeddon" | Conotoxia

Conotoxia Comments Conotoxia Comments 12.05.2022 17:55
George Soros' speculative attack on the Bank of England, the removal of the EUR/CHF minimum exchange rate and finally the collapse of Lehman Brothers - these are the events of the classical financial world, the scale of which may reflect what is currently happening in the world of cryptocurrencies. Unexpected factors like war could have led to price declines Sentiment in the cryptocurrency market seemed to have already deteriorated since last autumn, which could also correlate with the traditional stock markets that are part of the riskier asset category. Expectations of interest rate hikes, the cash phase of the business cycle in anticipation of higher inflation and lower GDP growth, or later, unexpected factors like war could have led to price declines. However, the current events, are no longer just a simple correction, but a true test of the entire crypto-system. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The collapse of the NFT market The breakdown of the Terra ecosystem by detaching the 1:1 convertibility of UST to USD, the fall of its main token - Luna, from over $100 a piece to a dozen cents, the collapse of the NFT market, the attempt to detach the convertibility of the largest stablecoin USDT from 1:1 to USD, and the massive discounts of bitcoin and ethereum, the largest cryptocurrencies - these are all events that happen at once, and in a very short time, and the market is trying to cope with them. This, in turn, can cause extreme fear among cryptocurrency holders similar, perhaps, to the fear in the eyes of tech company stock holders when the dot-com bubble burst. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM On the occasion of the prior cycle, the price of BTC fell from around $19,000 to around $3,000 Nevertheless, anyone who participates in the cryptocurrency market must also be aware of its cyclicality, especially when it comes to bitcoin and halving cycles. From this perspective, a classic bear market may currently be forming ahead of the next halving, which is expected to occur in March 2024. From a historical perspective, it is during the time occurring between the two halving cycles (the previous one was in 2020) that the biggest correction in the BTC price may occur. On the occasion of the prior cycle, the price of BTC fell from around $19,000 to around $3,000. If this is compared to bitcoin's peak in 2021 around $70,000, then even a drop to $11,000 would not be out of the ordinary. However, never before has the cryptocurrency ecosystem been as extensive as it is now, nor has it been as large as it is now, hence perhaps the scale of the repricing in the cycle may not be as significant as before. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Binance Academy: Value Of (BTC) Bitcoin Explained. Fiat Money - What Is It?

Binance Academy Binance Academy 12.05.2022 17:36
TL;DR Bitcoin derives its value from a variety of different attributes. Ultimately, both crypto and fiat currencies have value because of trust. As long as society believes in the fiat system, money will continue to have value. We can say the same for Bitcoin: it has value because users believe it does, but there is more to consider. Unlike fiat, Bitcoin has no central bank, and its decentralized structure allowed for the creation of a unique financial system. Blockchain technology offers a great deal of security, utility, and other benefits. It also provided a revolutionary way of dealing with the transfer of value globally. In many ways, Bitcoin can also act as a store of value similar to gold. Introduction One of the biggest struggles for newcomers to crypto is grasping how and why a cryptocurrency like Bitcoin (BTC) can have value. The coin is digital, has no physical asset backing it up, and the concept of mining can be very confusing. In a sense, mining creates new bitcoins out of thin air. In practice, though, successful mining requires a very costly investment. But how can all of this make BTC valuable? Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Think about the money we all use daily. There’s no longer gold or assets backing up our banknotes. Money that we borrow often exists only as numbers on a screen, thanks to fractional reserve banking. Governments and central banks like the Federal Reserve can create new money and increase its supply through economic mechanisms. Although there are remarkable differences, BTC, as a digital form of money, shares some similarities with the fiat money we are all used to. So, let’s discuss first the value of fiat money before we dive into the cryptocurrency ecosystem. Learn more on Binance.com Why does money have value? In short, what gives money value is trust. Essentially, money is a tool used to exchange value. Any object could be used as money, as long as the local community accepts it as payment for goods and services. In the early days of human civilization, we had all kinds of objects being used as money - from rocks to seashells. What is fiat money? Fiat money is the one issued and officialized by a government. Today, our society exchanges value through the use of paper notes, coins, and digital numbers on our bank accounts (which also define how much credit or debt we have).   Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the past, people could go to the bank to exchange their paper money for gold or other precious metals. Back then, this mechanism ensured that currencies like the U.S. dollar had their value tied to an equivalent amount in gold. However, the gold standard was abandoned by the majority of nations and is no longer the basis of our monetary systems.  After removing a currency's ties to gold, we now use fiat money without any backing. This uncoupling gave governments and central banks more freedom to adopt monetary policies and affect the money supply. Some of the main characteristics of fiat are: It’s issued by a central authority or government. It has no inherent value. It’s not backed by gold nor any other commodity. It has an unlimited potential supply. Why does fiat have value? With the removal of the gold standard, we seemingly have a currency without value. Money does, however, still pay for our food, bills, rent, and other items. As we discussed, money derives its value from collective trust. Therefore, a government needs to firmly back and successfully manage a fiat currency to succeed and maintain a high level of trust. It’s easy to see how this breaks down when faith in a government or central bank is lost due to hyperinflation and inefficient monetary policies, as seen in Venezuela and Zimbabwe. Why does crypto have value? Cryptocurrencies have some things in common with our standard idea of money, but there are some remarkable differences. Although some crypto like PAXG are pegged to commodities like gold, most cryptocurrencies have no underlying asset. Instead, trust once again plays a significant role in the value of a cryptocurrency. For example, people see value in investing in Bitcoin, knowing that others also trust Bitcoin and accept BTC as a payment system and medium of exchange. For some cryptocurrencies, utility is also an important factor. To access certain services or platforms, you may need to use a utility token. A service in high demand will therefore provide value to its utility token. Not all cryptocurrencies are the same, so their value really depends on the features of each coin, token, or project.   Read next: Binance Academy: Crypto Fear And Greed Index Explained| FXMAG.COM When it comes to Bitcoin, we can narrow it down to six features that we’ll discuss in more detail later: utility, decentralization, distribution, systems of trust, scarcity, and security. What is intrinsic value? A lot of the discussion regarding Bitcoin’s worth is whether it has any intrinsic value. But what does this mean? If we look at a commodity like oil, it has intrinsic value in producing energy, plastics, and other materials. Stocks also have intrinsic value, as they represent equity in a company producing goods or services. In fact, many investors perform fundamental analysis in an attempt to calculate an asset’s intrinsic value. On the other hand, fiat money has no intrinsic value because it’s just a piece of paper. As we’ve seen, its value derives from trust. The traditional financial system has many investment options that carry intrinsic value, from commodities to stocks. Forex markets are an exception as they deal with fiat currencies, and traders often profit from short or mid-term exchange rate swings. But what about Bitcoin? Why is Bitcoin valuable? The value of Bitcoin is a subjective topic with many differing opinions. Of course, one could say that the market price of Bitcoin is its value. However, that doesn’t exactly answer our question. What’s more important is why people judge it to have value in the first place. Let’s dig a bit deeper into some of the characteristics that make Bitcoin valuable. Bitcoin’s value in utility One of the major benefits of Bitcoin is its ability to quickly transfer large amounts of value worldwide without the need for intermediaries. While it can be relatively expensive to send a small amount of BTC due to fees, it’s also possible to send millions of dollars cheaply. Here, you can see a Bitcoin transaction worth around $45,000,000 (USD) sent with a fee of just under $50 (as of June 2021).     While Bitcoin isn’t the only network that makes this possible, it’s still the largest, safest, and most popular. The Lightning Network also makes small transactions possible as a layer two application. But regardless of the amount, being able to make borderless transactions is certainly valuable. Bitcoin’s value in decentralization Decentralization is one of the key features of cryptocurrencies. By cutting out central authorities, blockchains give more power and freedom to the community of users. Anyone can help improve the Bitcoin network due to its open-source nature.  Even the cryptocurrency’s monetary policy works in a decentralized manner. The work of miners, for example, involves verifying and validating transactions, but it also ensures that new bitcoins are added into the system at a predictable, steady rate. Bitcoin’s decentralization gives it a very robust and secure system. No single node on the network can make decisions on everyone’s behalf. Transaction validation and protocol updates all need to have group consensus, protecting Bitcoin from mismanagement and abuse. Bitcoin’s value in distribution By allowing as many people as possible to participate, the Bitcoin network improves its overall security. The more nodes connected to Bitcoin's distributed network, the more value it gets. In distributing the ledger of transactions across different users, there’s no need to rely on a single source of truth. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Without distribution, we can have multiple versions of the truth that are difficult to verify. Think about a document sent via email that a team is working on. As the team sends the document among themselves, they create different versions with different states that can be difficult to track. Also, a centralized database is more susceptible to cyber-attacks and outages than a distributed one. It’s not uncommon to have issues using a credit card because of a server issue. A cloud-based system like the one of Bitcoin is maintained by thousands of users around the world, making it much more efficient and secure. Bitcoin’s value in systems of trust Bitcoin’s decentralization is a huge network benefit, but it still needs some safeguarding. Getting users to cooperate on any large, decentralized network is always a challenge. To solve this problem, known as the Byzantine General’s Problem, Satoshi Nakamoto implemented a Proof of Work consensus mechanism that rewards positive behavior.  Trust is an essential part of any valuable item or commodity. Losing trust in a central bank is disastrous for a nation's currency. Likewise, to use international money transfers, we have to trust the financial institutions involved. There is more inbuilt trust in Bitcoin's operations than other systems and assets we use daily. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM However, Bitcoin users don't need to trust each other. They only need to trust Bitcoin's technology, which has proven to be very reliable and secure and the source code is open for anyone to see. Proof of Work is a transparent mechanism that anyone can verify and check themselves. It’s easy to see the value here in generating consensus that is almost always error-free. Bitcoin’s value in scarcity Inbuilt within Bitcoin's framework is a limited supply of 21,000,000 BTC. No more will be available once Bitcoin miners mine the last coin around 2140. While traditional commodities like gold, silver, and oil are limited, we find new reserves every year. These discoveries make it difficult to calculate their exact scarcity.  Once we have mined all BTC, Bitcoin should, in theory, be deflationary. As users lose or burn coins, the supply will decrease and likely cause an increase in price. For this reason, holders see a lot of value in Bitcoin's scarcity. Bitcoin's scarcity has also led to the popular Stock to Flow model. The model attempts to predict BTC's future value based upon Bitcoin mining per year and the overall stock. When back-tested, it quite accurately models the price curve that we have seen so far. According to this model, the main driving force in Bitcoin's price is its scarcity. By having a possible relationship between price and scarcity, holders find value in using Bitcoin as a store of value. We'll dive further into this concept at the end of the article.   Bitcoin’s value in security In terms of keeping your invested funds safe, there aren’t many other options that provide as much security as Bitcoin. If you follow the best practices, then your funds are incredibly secure. In developed countries, you can easily take for granted the security offered by banks. But for many people, financial institutions cannot provide them the protection they need, and holding large amounts of cash can be very risky. Malicious attacks to the Bitcoin network require owning more than 51% of current mining power, making coordination on this scale almost impossible. The probability of a successful attack on Bitcoin is extremely low, and even if it happens, it won’t last long. The only real threats to the storage of your BTC are: Fraud and phishing attacks Losing your private key Storing your BTC in a compromised custodial wallet where you don’t own the private key By following best practices to make sure the above doesn’t happen, you should have a level of security that exceeds even your bank. The best part is that you don’t even have to pay to keep your crypto safe. And unlike banks, there are no daily or monthly limits. Bitcoin allows you to have full control over your money. Bitcoin as a store of value Most of the characteristics already described also make Bitcoin a good fit as a store of value. Precious metals, U.S. dollars, and government bonds are more traditional options, but Bitcoin is gaining a reputation as a modern alternative and digital gold. For something to be a good store of value, it needs: Durability: So long as there are still computers maintaining the network, Bitcoin is 100% durable. BTC cannot be destroyed like physical cash and is, in fact, more durable than fiat currencies and precious metals. Portability: As a digital currency, Bitcoin is incredibly portable. All you need is an Internet connection and your private keys to access your BTC holdings from anywhere. Divisibility: Each BTC is divisible into 100,000,000 satoshis, allowing users to make transactions of all sizes. Fungibility: Each BTC or satoshi is interchangeable with another. This aspect allows the cryptocurrency to be used as an exchange of value with others globally. Scarcity: There will only ever be 21,000,000 BTC in existence, and millions are already lost forever. Bitcoin’s supply is much more limited than inflationary fiat currencies, where the supply increases over time. Acceptability: There's been widespread adoption of BTC as a payment method for individuals and companies, and the blockchain industry just continues to grow every day. If you want to explore the topic a bit more, check out Is Bitcoin a Store of Value?. Closing thoughts There is, unfortunately, no single and neat answer as to why Bitcoin has value. The cryptocurrency has the key aspects of many assets with worth, like precious metals and fiat, but doesn't fit into an easily identifiable box. It acts like money without government backing and has scarcity like a commodity even though it's digital.  A general lack of knowledge and misunderstanding has led some to question whether Bitcoin has any value at all. With words like "scam" and "Ponzi scheme" used, it's easy to see that some people have unfounded fears. But, ultimately, Bitcoin runs on a very secure network and the cryptocurrency has a considerable amount of value placed on it by its community, investors, and traders.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

(BTC) Bitcoins Price Crashes, Could The Nasdaq Be In Recovery Mode?, (GBP/USD) Bullish Market Sentiment For The Pound Sterling Against The USD

Rebecca Duthie Rebecca Duthie 12.05.2022 17:31
Summary: Rising inflation and hawkish reserve banks left investors risk averse. No particular news driving the stock price turn around for the market. Read next: Stock Market Showing Signs Of Slight Recovery Amidst U.S CPI Report Release  Bitcoins prices crashing The price of Bitcoin crashed almost 7% during the trading day on Thursday. The reason for this seems to be the same as what is happening with investors on the wider financial market, investors are turning risk averse and selling off their Bitcoin holdings in the wake of economic insecurity. The current crash is dropped lower than the value during the crash in July 2021. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The Fed’s increasing interest rates was an initial driver for investor sentiment to change bearish, the increasing interest rates made it more expensive to make bets on the financial markets. Investors are less confident in the ability of cryptocurrencies to hold their value as regulators battle rising inflation. Bitcoin USD Price Chart GBP likely to weaken further According to dailyfx.com, investors are betting on the Pound Sterling to strengthen against the US Dollar. The information the market has right now is that the UK economy is slowing, and likely to enter into a period of stagflation, this will likely cause the value of the GBP to weaken further. The future value of the GBP is not looking too bright. Nasdaq turns around. The Nasdaq has seen poor market performance during the trading week. However, during trading on Thursday, we have seen the stock price for the Nasdaq turn around. According to finance.yahoo.com, there does not seem to be any particular news driving this stock turn around. Nasdaq Price Chart Read next: Tech Stocks Plunging!? Trade Desk Earnings Announcement Pushes Tech Giant Stock Down, Russian Ruble Strengthening and Ford Motor Co.  Sources: slate.com, poundsterlinglive.com, finance.yahoo.com
Commodities: EU Members Manage To Agree On Price Caps For Russian Oil

The ugly crypto meltdown | MarketTalk: What’s up today? | Swissquote

Swissquote Bank Swissquote Bank 12.05.2022 11:03
US inflation data didn’t print a soft-enough figure to reverse the market selloff. Disappointing US inflation data sent another shock wave to the US stock markets sending all major US indices tumbling on Wednesday. The S&P500 lost more than 1.5%, while Nasdaq tumbled more than 3%. Bitcoin slumped below the 2021 lows on the back of a broad-based risk-off selloff, and panic due to TerraUSD losing its dollar peg earlier this week. The US dollar remained upbeat, and the dollar index returned above the 104 mark as the lower-than-expected cool down in the US inflation figure revived the Fed hawks. Gold rebounded from the 200-DMA, as the US 10-year yield eased despite yesterday’s higher-than-expected inflation print in the US The pound-dollar is testing the 1.22 this morning as the UK-European relationship is souring on the Northern Ireland headache. Gold rebounded from the 200-DMA, as the US 10-year yield eased despite yesterday’s higher-than-expected inflation print in the US, as US crude saw a decent dip buying interest below the $100 per barrel, even with the souring prospects of a healthy global economic recovery. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM   Watch the full episode to find out more! 0:00 Intro 0:28 Panic in cryptocurrencies as Terra loses dollar peg 2:22 Coinbase down on SEC filing about bankruptcy 4:08 Markets down on softer cool down in US inflation 6:37 Disney down, Rivian up after earnings announcement 7:25 USD up, pound down on souring EU-UK relations 8:23 Gold, oil rebound Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
Crypto Market Crash: Bitcoin Seeing $28.6K, Altcoins - Ether (ETH) Has Gained 16%, Solana (SOL) 25%, Cardano (ADA) 41.4% | FxPro

Crypto Market Crash: Bitcoin Seeing $28.6K, Altcoins - Ether (ETH) Has Gained 16%, Solana (SOL) 25%, Cardano (ADA) 41.4% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 13.05.2022 08:58
Bitcoin added 0.6% on Thursday, ending the day around $28,600, a modest gain but a significant intraday win. Bitcoin managed to find support near $25K on Thursday morning, reversing a multi-day decline. Since the start of the day on Friday, the rate has moved back above $30.5K (+6.9%). Total crypto market capitalisation, according to CoinMarketCap, jumped 14% overnight to $1.32 trillion This could be both the start of an extended buying wave and a trap for the bulls. After serious oversold previous days, altcoins rose at a double-digit pace in the last 24 hours. Ethereum is adding 16%, once again above $2K. The top 10 other leading altcoins are soaring from 25% (Solana) to 41.4% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, jumped 14% overnight to $1.32 trillion. The cryptocurrency fear and greed index was down 2 points to 10 by Friday and remains in “extreme fear” The bitcoin dominance index lost 0.3 percentage points to 44.4% due to weaker altcoins. The cryptocurrency fear and greed index was down 2 points to 10 by Friday and remains in “extreme fear”, but it largely ignores the optimism of recent hours. Thus, the indicator’s current low levels might also attract “buy when you are scared” buyers. LUNA lost nearly 100% of its value Do Kwon, head of Terraform Labs, presented a recovery plan for the UST stablecoin. Against this backdrop, the cryptocurrency LUNA lost nearly 100% of its value. The Terra blockchain has halted. According to media reports, Do Kwon was previously behind Basis Cash – another failed stablecoin blockchain project. The USDT stablecoin price tested the $0.94 level on Thursday amid market turbulence. Paolo Ardoino, technical director of issuer Tether, said the company has enough reserves to buy back all assets at a 1:1 ratio to the US dollar. Tron founder Justin Sun saw signs of an imminent attack on the USDD algorithmic stack coin launched on the Tron network in May. Sun announced a $2 billion allocation from the TRON DAP Reserve organisation to prevent such a scenario.
Crypto Crash Shocked Many, The Most Sensational Bit Was The Terra (LUNA) Plunge. Is (USD) US Dollar's Rally About To End? BP Has Decreased Slightly, So Does GBP/USD. This Week Has Been Full Of Events | Swissquote

Crypto Crash Shocked Many, The Most Sensational Bit Was The Terra (LUNA) Plunge. Is (USD) US Dollar's Rally About To End? BP Has Decreased Slightly, So Does GBP/USD. This Week Has Been Full Of Events | Swissquote

Swissquote Bank Swissquote Bank 13.05.2022 10:35
The dust seems to be settling in cryptocurrencies. Terra and Luna are now worth almost nothing but Bitcoin returned past the $30K, which is a sign that the confidence in the broader sector may have not been damaged as much as we first feared. European stocks opened in the green and US futures are pointing to the upside, yet volatility remains high, warnings that the wind could change direction rapidly, and the high volatility environment is more favourable for further losses than sustainable gains. European gas futures gained another 13% yesterday, and the pressure on energy prices remain clearly tilted to the upside   On the geopolitical front, the Europeans are going around their own sanctions against Russia by opening accounts with Gazprom bank to pay the Russian gas in exchange of rubles (!!), but the latest news suggest that Russia is now cutting the German gas as a retaliation to its sanctions. Of course, the Europeans have been quite bad in this poker game - they showed too openly how scared they were to lose the Russian gas that now, Russia is gaining the upper hand. European gas futures gained another 13% yesterday, and the pressure on energy prices remain clearly tilted to the upside. Saudi Aramco has surpassed Apple in terms of market capitalization this week, to become the world’s most valuable company, and the US dollar index extended gains to a fresh 20-year high. Everyone is now wondering when the dollar rally will end! Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM   Watch the full episode to find out more! 0:00 Intro 0:32 The dust settles in cryptocurrencies 2:22 Market update 3:13 Energy remains upbeat... 4:21 ... and Aramco is now the world's biggest compagny 5:00 High vol hints at further headache 6:34 Meme pop up 7:28 Dollar extends gains, raising bets that it's soon time for correction! Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020.
Oil Defies Broader Risk-off Sentiment: Commodities Update

Gold Price (XAUUSD) Nears 3-Month Low, The US Dollar (USD) Performance Agains (EUR) Euro Makes EUR/USD Decrease 2016's Lows And (BTC) Bitcoin Price Is Back Above $30K | Conotoxia

Conotoxia Comments Conotoxia Comments 13.05.2022 11:43
Gold held near three-month lows near 1,825 USD per ounce on Friday and is falling for the fourth week in a row from 1990 USD. One factor for the decline in gold prices could be the strengthening U.S. dollar, which seems to have stabilized near the 20-year high reached on Thursday. The USD strengthening may have followed the release of US consumer and producer inflation data, which seems to reinforce expectations of aggressive interest rate hikes by the Federal Reserve. This, in turn, may raise concerns about a weaker global economic outlook, helping to boost USD demand. The recent strengthening of the USD may also be related to the divergence in monetary policy on both sides of the Atlantic Recall that the U.S. core CPI remained near a 40-year high of 8.3 percent in April, while the core CPI also exceeded expectations at 6.2 percent, fueling fears that high price levels may persist. Thus, markets are anticipating increases of 50 basis points at each of the next two Fed meetings in June and July. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM This could also be significant for the EUR/USD major pair, which approached the 1.0350 level this week, its lowest level since December 2016. The recent strengthening of the USD may also be related to the divergence in monetary policy on both sides of the Atlantic. The Fed is moving towards aggressive hikes, while the European Central Bank may raise interest rates by 50-75 basis points in total by the end of the year. Thus, the scale of divergences seems to be very large. Bitcoin rebounded yesterday from its lowest level in almost 17 months and crossed the $30,000 mark today In addition to gold and the dollar, attention should again turn to the cryptocurrency market and towards stock market indices, where in both cases an attempt to defend against possible further declines may be underway. Bitcoin rebounded yesterday from its lowest level in almost 17 months and crossed the $30,000 mark today. Despite this, the world's most popular and widely used cryptocurrency is at this point on its way to its worst week in four months, falling more than 10 percent. Yesterday, the market additionally saw a likely panic as the tether to USD exchange rate departed at 1:1. At the apogee of fears for the collapse of the largest stablecoin, the cryptocurrency market seemed to have reached its weekly lows. Currently, USDT is trying to get back to the 1:1 exchange rate, and the rest of the market seems to be stabilizing. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Altcoins: (SHIB) Shiba Inu’s recovery is staggering, but one swallow does not make a summer | FXStreet

Altcoins: (SHIB) Shiba Inu’s recovery is staggering, but one swallow does not make a summer | FXStreet

FXStreet News FXStreet News 13.05.2022 13:53
Shiba Inu price is set to rebound back to either $0.00001400 or $0.00001708. SHIB price is still under plenty of bearish pressures as the downtrend is nowhere near an end. The current turmoil in stablecoins is negatively impacting cryptocurrencies, setting the scene for SHIB to drop towards $0.00000655, breaching $0.00001000. Shiba Inu (SHIB) price is recovering a bit after it incurred massive losses and instead looked like a wounded deer that has its life hanging by a thread. It is not just the dollar strength and the correction in the stock market but also the weak point in cryptocurrencies that have been exposed in total, with Tether and Stablecoins questioning their credibility. An existential crisis is not yet in the making, but once SHIB price dips below $0.00000655, a total liquidation could be at hand. SHIB price has the world questioning who will step in to catch the first domino falling Shiba Inu price is falling off its pedestal, and saw a massive outflow of capital these past few trading days. Although the markets look set to close the week by paring back some losses or even possible small gains, that does not mean that all is forgiven. Where investors and traders are always happy to buy the dip, SHIB price is not seeing a volume return. SHIB price has that massive headwind blowing in its face after more questions are raised on Tether and Stablecoins. Since those are all privatised firms and enterprises, not providing any detail on their balances (as apparently, they are afraid to give away the secret sauce), at any moment now, one Stablecoin could default, triggering a massive domino-effect with no failsafe system as there is not one central bank mandated to intervene and stop the next domino from falling. With that reassessment of risk, SHIB will need to correct further and is set to be rejected around either $0.00001400 or $0.00001708 and see bears using those handles to push the price to the downside near $0.00000655. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM SHIB/USD daily chart On the upside, only breakthrough headlines can save the day for now On the upside, only breakthrough headlines can save the day for now, with either headlines that a peace truce has been reached between Russia and Ukraine or that inflation is slowing down across the globe. Once some positive headlines cross the wires, expect SHIB price to pierce through the recent supports turned into resistance and break above $0.00001708. A pickup in buying volume could be seen with renewed trust, resulting in SHIB ticking $0.00002282 with the green ascending trendline, the 55-day Simple Moving Average and the monthly pivot as a triple cap to the upside. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM
(TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network

(TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network

Rebecca Duthie Rebecca Duthie 13.05.2022 11:41
Summary: What is TRON and How does it work? Advantages of TRON Past, Present and Future prices of TRON TRON is a decentralised, open-sourced blockchain-based operating system TRON is a decentralised, open-sourced blockchain-based operating system which has smart contract functionality and a delegated proof-of-stake principle as its consensus algorithm. The native cryptocurrency for TRON is Tronix (TRX). The TRON blockchain was launched in 2017. The maximum supply of TRX is 100 billion, 98.2 billion tokens in circulation and around $6.8 billion market capitalization. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The TRON project is a decentralised blockchain platform that focuses on entertainment and content sharing. TRX TRON cryptocurrency platform uses a transaction model that is similar to Bitcoin. Transactions take place in a public ledger, where users are able to track the operations history. The TRON platform was created to decentralise the internet and serves as a tool for developers to create decentralised applications (dApps), this acts as an Ethereum alternative. The creation of decentralised applications and creating content on the TRON network is available to anybody. The data hosted on the TRON network is free, with no central authority. Content creators receive TRX tokens in return for their intellectual labour. TRON network also makes decentralised games whereby players can encourage and reward content creators with digital assets directly. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM There is a tri-layers architectural system embedded in TRON There are 3 levels to the TRON network, all of which support the smooth and powerful TRON network operation. Storage layer, this layer is where blockchain state, history data and network data is stored securely. In general the purpose of this layer is to segment all kinds of ecosystem data. Application layer, this layer is where the developers are the key people, and where TRX is used to create wallets and develop applications. Core layer, this layer is where instructions are developed (Java and Solidity are the only two accepted programming languages for this layer). Principle of operation; this layer computes instructions, processes them and then sends them to the Tron Virtual Machine, which is where dApps are executed and where the logic happens. The main protection tool for the TRON network is the delegated proof-of-stake (dPoS) system This delegated proof-of-stake is an alternative to the proof-of-stake (PoS) and proof-of-work (PoW) consensus algorithms. The delegated proof-of-stake system is a competitive advantage for the TRON network as it makes it much more energy efficient. In addition, the tri-layered architecture system processes more transactions at a time than the proof-of-work system. Read next: (BTC) Bitcoin’s Price Tanks Along With Equities. U.S. Stock Market Awaits CPI Report, Poor Performance From The FTSE 100. TRONs development team has a higher throughput and is able to process up to 2000 operations without fees, therefore, the network transactions are without fees. TRON Super Representatives (SR): On the TRON network, all TRX token holders can apply to be SR candidates and any TRX holder can vote for these SR candidates. JustLend lending platform: JustLend is TRONs first official lending platform, the lending platform interest rates of its fund pools are determined by an algorithm based on TRONs asset supply and demand. JustLend aims to build a decentralised lending protocol and hopefully become TRONs first official algorithm-powered decentralised bank. TRON advantages: The ability for content creators to create content and share it openly and without hesitation regarding transaction fees. High throughput: this is done by improving the TPS in TRON, which has now surpassed both Bitcoin and Ethereum to a daily use practical degree. High scalability: due to the high scalability and highly effective smart contracts, applications developed on the TRON network are given a wider variety of ways to be deployed. The TRON network can support very large numbers of users. High availability: the network structure is very reliable along with the user asset, the intrinsic value and higher degree of decentralisation consensus come with an improved rewards distribution system. TRON goals: Deliver simple distributed file sharing. Financial rewards to drive content creation. Decentralising the gaming industry. Content creators can launch their own personal tokens. Where to buy TRX: The TRX token is available on many exchanges such as; Binance, Bancor, Poloniex and more. Past, Present and Future Prices In general the cryptocurrency market is volatile, in the graph below we see that the TRX token has experienced the price volatility of the market. There was an initial jump in price when TRX went to the market, but then the price fell to normal levels again. The price of TRX has, on average, been on the rise since July 2021. In the current market environment, the price of TRX has not seen any stability as market participants turn to safer investments during the time of uncertainty. The price of TRX is expected to rise in the future. TRX Price Chart Sources: finance.yahoo.com, tron.network, tronscan.org, coinmarketcap.com, coinbase.com
Noncustodial wallets explained. What are the best hardware and software noncustodial wallets?

Stablecoins: Acala (aUSD) - What Is It? Unlike Other Stablecoins, aUSD Is Completely Decentralized | KuCoin

Kucoin Blog Kucoin Blog 13.05.2022 15:42
Table of Contents · What is Acala (aUSD)? · How does Acala (aUSD) work? · What makes Acala (aUSD) unique? · Who created Acala (aUSD)? · Closing thoughts Since its launch over a decade ago, the cryptocurrency industry has evolved to become an integral part of the financial space. The nascent sector promises to deliver an open-source future that boasts decentralization, evenly distributed power, more transparency, and less trust. However, the sector faces multiple issues that currently inhibit it from making good on its promise. One of the most significant pain points in the crypto industry is extreme volatility, which causes wild price swings in digital asset prices. This shortcoming makes it nearly impossible to use cryptocurrencies as a medium of exchange. Hoping to address this issue, developers created stablecoins, which are pegged to a fiat currency in the ratio of 1:1. By acting as a volatility hedge, stablecoins quickly attained mass adoption in the crypto space despite their non-speculative nature. Nonetheless, most stablecoins run on a single blockchain network. As a result, their adoption is capped, seeing as the assets that serve as stablecoin collateral are limited. After realizing that cross-chain communication in blockchain technology serves the same role as the internet in an intranet setup, Acala sought to address the collateral issue by offering a stablecoin protocol that serves as the building block of decentralized finance (DeFi) in the Polkadot. Acala chose to build its stablecoin protocol on Polkadot because it powers public, consortium, and private blockchains. This feature enables true interoperability as well as economic and transactional scalability. Watch the Acala (aUSD) Deep Dive Video and Subscribe to the KuCoin YouTube channel: https://youtu.be/__t4RnDA-Zs How Does Acala (aUSD) Work? The Acala cross-chain stablecoin network seeks to develop a stable currency that enables low-cost borderless value transfers for all blockchains that are connected in a network. To increase the collateral supply, the protocol allows the use of assets on Polkadot or any other connected blockchain. By leveraging Polkadot’s shared security system, Acala aims to offer the highest security. The protocol also plans to achieve censorship resistance through its consortium setup and token release model. Additionally, Acala seeks to use its specialized blockchain network to set up a customized fee schedule while maintaining high security. The Acala protocol also plans to become a futureproof network that features forkless and non-disruptive upgrades. To achieve this, Acala intends to leverage on-chain governance. With most crypto platforms facing liquidity issues for staked assets, Acala leverages the Homa protocol, Which establishes a non-custodial trustless and cross-chain staking pool, where users stake their token and receive a L-Token (e.g. stake DOT and receive LDOT) that represents the principle staked asset plus the staking yield continuously accruing. L-Token are tradeable and liquid across all chains on the Polkadot & Kusama ecosystem. They are also redeemable for the underlying asset. What Makes Acala (aUSD) Unique? Acala features a multi-collateral-backed cryptocurrency dubbed the Acala Dollar Stablecoin (aUSD). This cryptocurrency is pegged to the US dollar in a 1:1 ratio. Unlike other stablecoins, aUSD is completely decentralized. The aUSD stablecoin can be created from blockchain assets connected to the Polkadot network. Anyone that owns Acala-supported cryptocurrencies can use them to create aUSD by creating a Collateralized Debt Position (CDP) through the Honzon protocol. The Honzon protocol is a dynamic ecosystem of CDPs. Alternatively, users can acquire aUSD tokens by buying the tokens from brokers or exchanges. The aUSD stablecoin can be used on any blockchain connected to Polkadot. Applications on the chains can also leverage aUSD. To maintain aUSD’s stability, Acala combines an automatic risk management algorithm within the Honzon protocol and community governance. The Acala network features a governance token dubbed ACA. This token has three use cases. ACA’s first application is serving as a network utility token. Acala users need ACA to pay transaction fees, scalability fees (interest rate on loans taken on aUSD), and penalty fees in the event of liquidation. ACA holders can propose network upgrades and risk level adjustments, which the elected on-chain General Council can either approve or turn down. It is worth noting that holding ACA does not entitle Acala users to any returns the network generates. The final use case of the ACA token in solving contingencies. In the event of a sudden plunge in the price of a collateral asset, the Acala system will liquidate and sell ACA tokens automatically to prevent the under-collateralization of CDPs. Who Created Acala (aUSD)? Four individuals, namely Betty Chen, 0xThreeBody, Ruitao Su, and Bryan Chen, co-founded Acala. Before Acala, Betty co-founded Laminar and served as its COO. She is also the co-founder of Flowingo. Ruitao also co-founded Laminar and served as its CEO. Additionally, Ruitao founded Less Code Limited. Bryan previously served as the CTO at Laminar and is a Polkadot ambassador. The Acala team also comprises Dan Reecer as its Chief Growth Officer. He previously worked in the field of Web 3 and promoted the launch of @Polkadot and @Kusama Network. Closing thoughts By functioning as a decentralized stablecoin protocol, Acala positions itself as a revolutionary protocol that helps unlock the true potential of the crypto industry. Through aUSD, the Acala network helps minimize the crypto sector’s volatility, allowing for more adoption and use in DeFi. Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange_New Subscribe YouTube Channel >>> https://www.youtube.com/KuCoinExchange Download KuCoin App >>> https://www.kucoin.com/download Source: KuCoin
Altcoins: Freschcut (FCD) - What Is It? How Does It Work? | KuCoin

Altcoins: Freschcut (FCD) - What Is It? How Does It Work? | KuCoin

Kucoin Blog Kucoin Blog 14.05.2022 13:27
Table of Contents · What is FreshCut (FCD)? · How doesFreshCut (FCD) work? · What makes FreshCut (FCD) unique? · Who created FreshCut (FCD)? · Closing thoughts Apart from taking the largest share of the revenue generated, the web2 industry does not have a dedicated home for gaming content The social media industry is rapidly growing as the world transitions into a digital era. At the moment, the industry rakes in North of $120 billion. However, the sector has been leeching on free content from creators and free engagement from fans and members. Although the sector relies heavily on creators and fans, they get little or no share. Apart from taking the largest share of the revenue generated, the web2 industry does not have a dedicated home for gaming content. The gaming industry is spread across multiple platforms that are not designed to handle short-form or gaming content. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM For instance, in 2020, there were 87 million gaming content channels on YouTube and Twitch. By factoring in short-form platforms like TikTok, Instagram, and Reddit, this number rose sharply to hit hundreds of millions. While this industry has been growing at a 40% rate year-over-year for the past three years, creators continue to suffer under the tyranny of social-video platforms. For instance, Instagram creators got nothing despite having millions of followers and fan engagement. On the other hand, TikTok creators are making single-digit dollars. Additionally, revenue share economies take rates ranging from 30% to 50%. Hoping to address these issues, FreshCut launched as a web3 gaming content platform and community for fans and creators. The platform seeks to host the freshest video moments in the gaming community. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM To achieve and sustain this moment, FreshCut intends to empower fans and creators to share the best moments in gaming. Additionally, the platform intends to fairly compensate fans and creators in its ecosystem. Watch the FreshCut (FCD) Deep Dive Video and Subscribe to the KuCoin YouTube channel: https://youtu.be/r2IVxLnF2Kc How Does FreshCut (FCD) Work? FreshCut focuses on disrupting the web2 standards in the social-video industry and shaping the sector’s future. The platform seeks to achieve this by sharing value back to creators and fans, who play a vital role in building and maintaining a healthy, fun, and engaging community. The FreshCut ecosystem features a token dubbed FreshCut Diamonds (FCD). FCD is an ERC-20 community token that runs on Polygon, an Ethereum sidechain scaling solution. Fans and creators can earn it in multiple ways, including community membership, engaging with the platform, and patronage/tipping. Read next: Stablecoins: Acala (aUSD) - What Is It? Unlike Other Stablecoins, aUSD Is Completely Decentralized | KuCoin| FXMAG.COM The FreshCut platform has integrated Engage-and-Earn and Create-and-Earn mechanisms. Additionally, the platform aims to add a patronage product, which returns 90% of the value to creators. Unlike other profit-oriented organizations, FreshCut allocates the remaining 10% to its community treasury. At the moment, creators can earn the FCD token through the Engage-and-Earn and Create-and-Earn mechanics through the FreshCut mobile app or Discord community. Fans that hold FCD can tip creators for their content. In the future, FreshCut aims to introduce an option to purchase digital collectibles, which it will co-create with creators on the platform. FCD holders will also get membership benefits within the FreshCut ecosystem and contribute to the platform’s governance through FreshCut DAO. What Makes FreshCut (FCD) Unique? Unlike web2 social-video platforms, FreshCut enables active content creators that contribute back to the community to earn regular FCD rewards. The platform will only distribute these rewards to creators who complete tasks. Creator tasks include publishing video content, fostering viewership and fan engagement, sharing video content, engaging fans through FreshCut, participating in events like tournaments, as well as creating and organizing sanctioned FreshCut events for fans and community members. Through the Engage-and-Earn mechanism, FreshCut allows fans that contribute to its discord channel to earn rewards. Tasks that creators need to complete to earn FCD include watching videos, engaging with creators, sharing and promoting creator content, and participating in community events. After earning FCD, fans can use their holdings to tip creators, get access to events, and earn exclusive drops. Additionally, they can qualify for community membership and/or creator benefits. Benefits include getting exclusive FreshCut merchandise, gaining access to FreshCut events and IRL meetups Creators and fans that hold FCD qualify as members. Getting the member status enables users to get perks in the FreshCut app and the platform’s ecosystem. Benefits include getting exclusive FreshCut merchandise, gaining access to FreshCut events and IRL meetups, entry into monthly gaming giveaways, and access to a members-only Discord channel. As development continues, FreshCut aims to team up with strategic advertisers and sponsors to increase the rewards that creators and fans receive. After the project achieves this milestone, FCD holders will enjoy both product and reward opportunities via special campaign activations. Considering FCD runs on Polygon, token holders get fast transaction speeds, low transaction costs, Ethereum’s security, a vibrant and rapidly growing EVM ecosystem, and robust development tools and environment. Who Created FreshCut (FCD)? FreshCut is the brainchild of three individuals: James Kuk, Ben Stueck, and Ernie Le. James serves as the company’s CEO and has more than 10 years of experience in the gaming and creator economy. Before FreshCut, he worked as the Head of Global Business Development & Strategic Partnerships at Twitch. James also worked at Xbox Studios. Ben is FreshCut’s Chief Product Officer. He is a product development officer with vast experience building for gaming creators and their communities at Twitch. Ernie serves as the company’s Chief Content Officer. He previously worked at Twitch and helped the platform’s creator program grow to over 30,000 partners. Ernie also led the Publisher and Developer team at Twitch and is a Forbes 30 under 30 alumni. The rest of the team includes Frank Shotwell as VP of Engineering, Syed Hasnain as Blockchain Engineer, Ken Wattana as the Head of Marketing, Alice Wang as Finance Lead, Kevin McCarthy as Operations Lead, and Derek Hunten as Product Design Lead. FreshCut also has a rich team of advisors, including Twitch co-founder Kevin Lin, Republic Crypto co-founder Bryan Myint, Loot Squad co-founder Bryce Johnson, web3 content creator and YouTube creator Brandon Martyn, Ex Populous Soban Saqib, and Tribe Gaming founder and CEO Patrick Carney. Closing Thoughts By providing tangible value to creators and fans through the Engage-and-Earn and Create-and-Earn mechanisms, FreshCut is well-positioned to revolutionize the social-video industry. The project also helps build and sustain a healthy, engaging, and fun community. Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange_New Subscribe YouTube Channel >>> https://www.youtube.com/KuCoinExchange Download KuCoin App >>> https://www.kucoin.com/download Source: KuCoin
Crypto: How To Estimate A Risk And Take A Profit?

Binance Academy: Investing Strategy - Buying The Dips And Taking Profits Are Not The Only Options!

Binance Academy Binance Academy 13.05.2022 15:36
TL;DR With Dual Investment, there’s an opportunity to employ different strategies depending on your market view.  For less-experienced investors, you can easily take profits, buy dips, and earn interest on your crypto and stablecoin holdings.  For experienced investors, it’s possible to enter multiple Dual Investment positions and take advantage of a short-term volatile market. Introduction For users looking to diversify their investments, Binance Earn’s products are a good place to start. Dual Investment is one of the more advanced ways to earn and provides a way to buy or sell a cryptocurrency at your desired price at your desired date in the future. Regardless of your position, you’ll earn a high-interest income no matter which direction the market goes. So now we understand the basic concept, how exactly do we start earning? There are, in fact, many ways to use Dual Investment. Each one can complement your trading strategies and predictions for the market. Let’s get stuck in! Learn more on Binance.com 1. Taking profits Although it can be easy to get carried away, it’s always good to take some profits when you can. With this particular Dual Investment strategy, you can benefit from additional returns and realize some of your crypto gains in the future. 1. Select the Sell High Dual Investment product on Binance Earn. In this example, we’ll look at an Ether (ETH) product. The current ETH price is $2,900 (all prices given in BUSD). 2. We’ll set a Target Price of $3,500 and the Settlement Date for a week’s time.  3. We’ll then have the chance to sell the deposited ETH at the Target Price if it’s reached on the Settlement Date in a week. If ETH is 3,500 BUSD or above on the Settlement Date, it will be sold for BUSD. This removes the situation of forgetting to take your profits or not doing so due to greed! At the same time, you’ll also be earning APY. 4. If your Target Price isn’t reached on the Settlement Date, you’ll still earn APY on the deposited ETH and receive the ETH back.   2. Buying the dips Buying the dip is another common trading strategy that allows you to take advantage of a market downturn. By purchasing at a lower price, you anticipate a later market upturn when you can sell for a profit. With Dual Investment, it’s simple to plan for potential future dips while earning an additional interest income. 1. Select the Buy Low Dual Investment product on Binance Earn. In this example, we’ll look at a BTC product purchasable with Tether (USDT) . BTC’s current price is $39,000. 2. We’ll choose a Target Price of $36,500 for BTC with a Settlement Date in one week. 3. If the Market Price is $36,500 or lower on our Settlement Date, for example $36,000, BTC will be purchased at our Target Price. You’ll also get your earned interest too.  4. If your Target Price ($36,500) isn’t reached on the Settlement Date, you’ll still earn APY on the deposited USDT before receiving it back.   3. Growing your HODLed crypto When entering into Dual Investment, you don’t always have to be betting on market movements. In fact, you can make good use of the product even when the price remains relatively stable or doesn’t reach your Target Price. Here, we’re just looking to make returns on crypto through interest. 1. Select the Sell High Dual Investment product on Binance Earn. In this example, we’ll look at a BTC product. BTC’s current price is $39,000. 2. We’ll choose a Target Price of $40,000 for BTC with a Settlement Date in one week. 2. To simply earn APY, we hope that Bitcoin’s price remains stable or decreases and doesn’t meet the Target Price. 3. At the Settlement Date, BTC’s price is $38,000. This means you keep your deposited BTC and receive all earned interest. This provides an easy way to earn high interest on your crypto holdings.   4. Growing your stablecoin stash Many of us keep stablecoins as a way to keep captured profits in the blockchain ecosystem. But that doesn’t mean that we can’t make them start earning too. This strategy is similar to the previous one, in that we hope the Target Price isn’t reached. 1. Subscribe to a Buy Low Dual Investment product on Bina nce Earn. In this example, we’ll look at a MATIC product purchasable with USDT. MATIC’s current price is $1.20. 2. We’ll choose a Target Price of $1.10 for MATIC with a Settlement Date in one week. 2. To earn stablecoin APY, we hope that MATIC’s price remains stable or increases and doesn’t meet the Target Price. 3. At the Settlement Date, MATIC’s price is $1.22. This means you keep your deposited USDT and receive all earned stablecoin interest. This provides a simple way to earn high interest on your stablecoin holdings.   5. Compound earning in a short-term volatile market Our previous four strategies have provided simple ways to earn interest and buy or sell at preset prices according to your strategy. However, there’s also the opportunity for more advanced plays with Dual Investment. As always, investing has an inherent risk. This strategy should only be used by experienced investors who feel comfortable in volatile markets. With this application, we expect market volatility but have no clear view of whether the market is bullish or bearish. To take advantage of this situation, we need to use a combination of Buy Low and Sell High products. Let’s look at an example. 1. Select the Sell High Dual Investment product on Binance Earn. In this case, we’ll look at a BNB product. BNB’s current price is $395. 2. We’ll choose a Target Price of $420 for BNB with a Settlement Date in one week. 3. The market is volatile, meaning two things may happen.  If the Target Price isn’t met, you’ll keep your BNB and earned interest. You can create a new Sell High order, allowing you to earn more interest or sell for a higher price.  If the Target Price is met, you’ll sell your BNB at $420 per unit and gain interest. You can now place a Buy Low order, giving you the chance to purchase crypto at a lower price.  4. Every time your Target Price is met, go for Dual Investment products in the other direction. If the Target Price is not met, continue on with the same direction until the Target Price is met.  4. Playing the market in this way lets you keep on buying lower and selling higher, all while compounding your returns.   6. Double-sided positions Our final strategy has similarities with the previous one, but in this case we open two positions simultaneously. To do this, you’ll need to hold two types of tokens: one in crypto (like BNB) and one in stablecoin (like USDT). Let’s see how it works if the price of BNB is currently $390.  1. Use BNB to subscribe to a Sell High BNB Dual Investment product with a Target Price of $420 and a Settlement Date in one week. 2. Use USDT to subscribe to a Buy Low BNB Dual Investment product. Set your Target Price to $360 with a Settlement Date in one week. 3. The market is volatile leading to three possible outcome:  The Target Price of both positions isn’t met as the price stays between $360 and $420. In this case, you’ll keep your original BNB and USDT deposits, as well as earned interest in both currencies.  The price of BNB reaches $420 or above, meaning the Sell High position’s Target Price is reached. Your BNB and accumulated interest will be sold for $420 per unit, and you’ll also keep your Buy Low USDT deposit plus earned interest. In conclusion, you get to take profit from selling BNB and also accumulate interest in USDT. The price of BNB reaches $360 or above, meaning the Buy Low position’s Target Price is reached. You’ll purchase BNB at your desired price and receive your interest, and you’ll also keep your Sell High BNB deposit plus earned interest. In conclusion, you get to buy BNB at a lower price while also accumulating interest in BNB. Closing thoughts There’s a lot more to Dual Investment than just earning interest and buying or selling. You can use the product as a way of planning your trading strategies with the added bonus of APY. So, if you’re looking for a way to diversify your investments, Dual Investment is a great product to explore. Disclaimer: Dual Investment is not a principal-guaranteed product. Subscribed assets are locked and users are not able to cancel or redeem before the Settlement Date. If the market price goes far below your Target Price to buy on the Settlement Date, you will be buying at a relatively higher price than the market price, and vice-versa. Binance does not assume liability for any losses incurred from price fluctuations. Please read through the product terms carefully before subscribing.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Kiyosaki Is Expected To Buy BTC At $17K, Miller Sells. Bitcoin Has Lost 9.4% Over The Previous Week, Ether (ETH/USD) Gone Down By Over 16%, (SOL) Solana Price Lost Ca. 25% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 16.05.2022 08:25
Bitcoin is down 9.4% over the past week, ending at around $31,000. Ethereum lost 16.1%, while other leading altcoins in the top 10 fell from 13.9% (Binance Coin) to 25.4% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 15% over the week to $1.30 trillion. Bitcoin has declined for six weeks in a row, along with stock indices The bitcoin dominance index jumped 2.9 points to 44.4% over the same period due to a sharp weakening of altcoins. The cryptocurrency fear and greed index fell 8 points in the week to 10 and continues to be in "extreme fear". By Monday, the index had climbed to 14 points, thanks to the cryptocurrency market's retreat from local lows at the end of last week. Bitcoin has declined for six weeks in a row, along with stock indices. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM A prolonged one-way move in Bitcoin was last seen in late 2018 when the first cryptocurrency hit a cyclical bottom. That was followed by many more months of sluggish momentum, so investors have an essential question: choose a low point to buy or join the move when it is certain. Prudence suggests that it is less risky to follow the second strategy. The story of the Terra (LUNA) crash and the TerraUSD stablecoin project added to the negativity on the crypto market, hitting all altcoins hard Last week's decline intensified after breaking through last year's lows near $30,000, becoming the most significant weekly drop since January. The story of the Terra (LUNA) crash and the TerraUSD stablecoin project added to the negativity on the crypto market, hitting all altcoins hard. According to Global Macro Investor CEO Raul Pal, May and June will be the most worrying months, so a new wave of sell-offs in the crypto market is inevitable. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Robert Kiyosaki, the world-famous author of the bestselling book Rich Daddy, Poor Daddy, is looking to buy bitcoin once it tests the 'bottom' at $17,000 Legendary investor Bill Miller said he sold some of his BTC holdings. Although bitcoin may continue to decline in the short term and even drop by half from current levels, Miller looks at bitcoin positively and expects it to grow over a long time. Robert Kiyosaki, the world-famous author of the bestselling book Rich Daddy, Poor Daddy, is looking to buy bitcoin once it tests the 'bottom' at $17,000. The businessman has once again expressed distrust of the US government.
Unveiling the Hidden Giant: The Growing Dominance of Non-Bank Financial Institutions

Binance Academy: What Is TPunk? 10 NFTs Which Costs Millions - Part II

Binance Academy Binance Academy 16.05.2022 14:10
Learn more on Binance.com Part I: Binance Academy: Non-fungible Tokens: $69 Millions For An NFT!? NFT - What Is It?| FXMAG.COM 6. TPunk #3442 - $10.5 million Some people consider TPunks as Tron’s version of CryptoPunks, with the familiar pixelated faces that carry different rarity and attributes. One of the rarest is this joker-face TPunk #3442. It was sold for 120 million TRX in August 2021 to Justin Sun, CEO of Tron. This was the most expensive NFT ever sold on the Tron blockchain. Sun didn’t keep the TPunk, though. He donated it to APENFT right after the purchase.      7. CryptoPunk #4156 - $10.26 million Yes, another CryptoPunk among the most expensive NFTs. CryptoPunk #4156 is an ape with a blue bandana. Its previous owner was someone with a matching pseudonym “Punk 4156,” who acquired the NFT at $1.25 million in February 2021. However, he sold the NFT for $10.26 million in December of the same year.     8. CryptoPunk #5577 - $7.7 million At #8 sits another ape-like CryptoPunk, this time with a cowboy hat. CryptoPunk #5577 was sold for 2,501 ETH in February 2022. Although not confirmed, many believe that the buyer was Robert Leshner, CEO of Compound Finance, who tweeted a “Yeehaw” after the purchase happened.     9. CryptoPunk #3100 - $7.58 million Sold at $7.58 million in March 2021, CryptoPunk #3100 is also one of the nine rare alien punks and it also wears a headband. As of May 2022, this Punk is listed for 35,000 ETH. If it ever gets sold, it will be the biggest NFT sale in the history of CryptoPunks.     10. CryptoPunk #7804 - $7.57 million CryptoPunk #7804 is the sixth CryptoPunk in our list. It’s a pipe-smoking alien with a cool cap and sunglasses. #7804 was owned by the CEO of the designer software company Figma, who proudly referred to it as the “digital Mona Lisa.” The NFT was sold for $7.57 million in March 2021.     Where can I buy NFTs? You can get your first NFT at various NFT marketplaces. Depending on the blockchain network, you’ll need a compatible wallet and the supported cryptocurrencies for the purchase. For example, NFT prices on Binance Smart Chain (BSC) are almost always in BNB or BUSD, while NFTs on the Ethereum blockchain typically use ether (ETH).  You can buy the cryptocurrencies needed on the Binance exchange and transfer them to a wallet that can be connected to the NFT Marketplace. If you’re purchasing NFTs on the Binance NFT Marketplace, you can simply move your funds to the Funding Wallet. Select the desired NFT and click [Buy Now] or [Make Offer]. Check out our NFT Marketplace guide for more details.     If you’re looking to buy NFTs on other marketplaces, browser extension wallets like Binance Chain Wallet and MetaMask are good options. After transferring your funds from Binance to your wallet, connect it to the NFT marketplace to get started. Don’t forget to check the URL you are visiting to ensure that you’re on the official website. If you connect your wallet to fake or suspicious websites, your funds might be stolen. Closing thoughts It’s no doubt that NFTs are growing in popularity and continuously creating new record-high sales. While most NFTs are simply collectible artworks, we have an increasing number of NFTs created with a variety of use cases. As NFTs mature, we can expect to see more utilities and adoptions than simply digital collectibles and possibly even higher sales.
Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Bitcoin Price (BTC/USD) Lost $13K Reaching $42K Less Than In November 2021. Ether (ETH) Lost 52% Among April And May's Beginning. Is this not the end of the cryptocurrency bear market? | Geco.one

Geco One Geco One 16.05.2022 15:12
Between 5 and 12 May 2022, Bitcoin fell by over $13,000, i.e. over 33%. It increased Bitcoin depreciation which started on 28 March, to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Such a significant sale caused the exchange of the oldest virtual currency to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. However, considering that the demand reaction that appeared last weekend was much more modest than the previous ones around this support, it seems highly probable that it will be only a temporary correction, after which the BTC rate will return to losing value. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM If this sell-off leads to a sustained drop below $24,000, we will have to prepare for a further depreciation towards $24,000 or even below $20,000. The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. The demand reaction that appeared last weekend was much more modest than the rebound observed in this region in May, June and July 2021. We assume that it will be only a correction, after which ETH will return to around $1,750. A permanent drop below this price level could open the door for further declines to $1,400 — around this price is another significant support around which we could expect a greater demand response. Solana (SOL) Loses Ca. 77% Looking at the Solana quotes, we notice that the price of this cryptocurrency fell between 2 April and 12 May this year by almost 77%, dropping to the area of technical support of $37, which was the lowest level since August 2021. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the second half of last week, the demand reaction appeared. Although it could signal a potential rebound towards the previously defeated support (now resistance) of $78, taking into account the general pessimism currently observed in the broad cryptocurrency market, it seems that the increases can end much earlier. The SOL rate could return to around $37 or even fall below this support if this happens. It would indicate a potential for further depreciation towards $23. The current situation on the Cardano quotes is also very interesting. The price fell between 4 April and 12 May this year by 69%, dropping to the area of technical support of $0.40, which was the lowest level since the beginning of February 2021. It is where the demand response appeared, and if the several-day increases continued, the ADA rate could even return to the area of previously defeated support (now resistance) of $0.75. However, there are many indications that this rebound will ultimately turn out to be only a correction, after which Cardano’s quotations will return to the area of $0.40, or they will drop even lower. Start your trading adventure with Geco.one
LFG Has Not Created Any New Wallets| Do Kwon  On The Interpol Wanted List

Can Terra’s LUNA recover and reach $120 again?

FXStreet News FXStreet News 16.05.2022 16:09
LUNA price plummets nearly 38% despite a 200% increase in trade volume. Do Kwon, CEO of Terraform Labs, has written a proposal to fork LUNA to a new chain with a cap of 1 billion coins. Binance CEO CZ believes Do Kwon’s plan to save LUNA will not work as forking does not add value to the new fork. Do Kwon’s proposal to fork Terra’s LUNA to a new chain has received criticism from Binance CEO and cryptocurrency proponents. The Luna Foundation Guard has spent $3 billion stabilizing TerraUSD’s peg, however, UST has failed to recover. Terra’s LUNA struggles to recover despite forking plan The Luna Foundation Guard has spent billions of dollars reinstating TerraUSD’s (UST) peg. However, UST price is struggling to make a comeback. At the time of writing, UST is priced at $0.082, 91.8% lower than its $1 peg. Do Kwon, the CEO of Terraform Labs, came up with a recovery plan for Terra’s tokens. The Luna Foundation Guard Council proposed forking LUNA to a new chain, using a snapshot from before the attack on the blockchain. The recovery plan proposes a cap of 1 billion coins, where 900 million tokens of the new chain are set aside to be returned to LUNA and UST holders from before the de-pegging event and chain hold, and the last 100 million tranche is to be staked at the network genesis state. Proponents criticize Do Kwon’s plan for LUNA recovery Changpeng Zhao, CEO of the world’s largest cryptocurrency exchange, Binance, critiqued Do Kwon’s recovery plans and revealed that he does not believe that LUNA can recover and make a comeback to $120. Zhao stated that, This won’t work. – forking does not give the new fork any value. That’s wishful thinking. – one cannot void all transactions after an old snapshot, both on-chain and off-chain (exchanges). On behalf of Binance, CZ asked the Terra team to compensate retail users first and supported the prioritization of the smallest wallets with UST deposits on Anchor. Binance has nearly $1.6 billion tied up in LUNA’s collapse. Kwon has requested community members for patience as Terraform Labs works on multiple tasks to stabilize UST, repeg it and drive a recovery in LUNA. Still, the CEO of CryptoQuant revealed that market maker(s), including the ones hired by LFG, sent 84,000 BTC, equivalent to $2.5 billion, to multiple exchanges last week. It is unclear whether the BTC tokens were sold, but it is likely that Coinbase digested a majority of the selling pressure and efforts to recover algorithmic stablecoin UST failed. Larry Cermak, VP of research at IntoTheBlock, pointed out that LFG has gone from $3.1 billion in its reserves a week ago to $87 million now as the non-profit organization spent nearly $3 billion on defending UST’s peg. Despite the efforts, the stablecoin collapsed. VisionPulseTrades evaluated LUNA price trend and revealed that if the bottom is in, LUNA needs to gain confidence among investors to begin a trend reversal. If so, the next bullish target for is capped between $0.00025 and $0.00033. A recovery to $120 is therefore unlikely for LUNA, as VisionPulseTrades emphasizes the demand for the token comes from investors expecting a recovery and a purchase of Terra by the LFG. Terra LUNA's collapse dragged the whole crypto market After Terra LUNA's implosion, most crypto assets suffered heavy losses. What's next for Bitcoin?
Weekly Crypto Analysis: LUNA Triggers Crypto’s Bloodbath, Top 7 Things to Know | KuCoin

Weekly Crypto Analysis: LUNA Triggers Crypto’s Bloodbath, Top 7 Things to Know | KuCoin

Kucoin Blog Kucoin Blog 16.05.2022 23:30
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart On Monday, cryptocurrency prices remained bearish amidst a dramatic drop in LUNA and UST. The global cryptocurrency market cap was $1.30 trillion, up from $1.14 trillion. Total crypto market volume fell from $80.16 billion to $79 billion.   Nigeria's Securities and Exchange Commission has issued new rules to guide the issuance, custody, and exchange of digital assets and classify them as securities, which is a positive development in the crypto space. Nonetheless, the Terra ecosystem collapse remained one of the top stories in the previous week.   Let's delve deeper and take a quick look at the latest crypto market news and Bitcoin's technical outlook.   Crypto Market Overview Bitcoin dominance has soared to 44.4% up from 40.60% last week. The leading cryptocurrency by the market was trading at $30,426 while Ethereum, the second-largest cryptocurrency by market capitalization, has plunged by 15.88% in the past seven days. On Monday, it was trading at $2,076.89, a 3.27% surge in 24 hours.   Maker (MKR), Pax Dollar (USDP), and Binance USD (BUSD) remained the top performers from the previous week. Maker increased by more than 29% to trade at $1,517.75, while Pax Dollar increased by 0.50% in the last seven days, maintaining a $1 peg.   Cryptocurrency Market Heatmap | Source: Coin360   While TerraUSD (UST) experienced a massive plunge, losing 82.15% to $0.1779 and Waves (WAVES) lost 48% in the last seven days. The crypto market's trading sentiment has shifted negatively due to risk-off sentiment, and digital assets are struggling to rise.   Top Altcoin Gainers and Losers Top Altcoin Gainers: ➢ Maker (MKR) ➠ 29.66%➢ Pax Dollar (USDP) ➠ 0.50% ➢ Binance USD (BUSD) ➠ 0.13%   Top Altcoin Losers: ➢ TerraUSD (UST) ➠ 82.15% ➢ Waves (WAVES) ➠ 48.05% ➢ Lido DAO (LDO) ➠ 46.54%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Crypto’s Bloodbath: Terra (LUNA) Nears $0 If you haven't heard, TerraUSD (UST), a cryptocurrency that is supposed to remain stable at $1 (also known as a stablecoin), is no longer $1. It's usually a bad sign when a crypto token is supposed to be $1 but isn't. Furthermore, the LUNA crypto token, which underpins UST, has lost nearly all of its value. These losses have been widely reported, so this is likely the umpteenth piece about UST you've seen.   Sister asset TerraUSD, a so-called stablecoin designed to trade at around $1, broke its peg last weekend, falling to 16 cents, algorithms are supposed to help keep TerraUSD at $1, but the token uses luna as a stabilizing mechanism when the price deviates.   During the previous week, Terra (LUNA) prices fell to near $0.01. The LUNA token is currently trading at $0.0002426, down from $80 just a week ago. The platform behind the beleaguered luna cryptocurrency said that it had temporarily halted its blockchain to stop transactions after the token's price dropped nearly 100 percent overnight, making the network more vulnerable to an attack.   There are several stablecoins available, including tether (USDT), USD coin (USDC), Binance USD (BUSD), and Dai (DAI). Notably, we also had TerraUSD (UST). These are the five most valuable stablecoins, worth approximately $160 billion. These stablecoins are collateralized stablecoins issued by centralized entities (USDT, USDC, and BUSD). These entities own a treasury of dollars that back each coin, allowing the holder to redeem each coin for $1 from the issuer. However, it would be fair to say that such an incident has shaken investor sentiment.   Nigeria's Markets Regulator Publishes Rules on Crypto Assets Nigeria's Securities and Exchange Commission has made new rules about how digital assets can be issued, stored, and traded. The central bank of Nigeria prohibited banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies last year.   However, the country's young, tech-savvy population has embraced cryptocurrencies, for example, using peer-to-peer trading provided by cryptocurrency exchanges to circumvent the financial sector ban.   On its website, Nigeria's Securities and Exchange Commission (SEC) published the "New Rules on Issuance, Offering Platforms, and Custody of Digital Assets." These rules classify digital assets as securities, which is a good thing for the crypto space. Such government action points to cryptocurrency acceptance and, as a result, helps to support cryptocurrency prices.   Dogecoin Has Potential as a Currency, Elon Musk Says All that the crypto market requires now is support from crypto influencers such as Elon Musk. So, despite massive sell-offs in the cryptocurrency market, Tesla CEO Elon Musk has issued another bullish statement about the meme cryptocurrency dogecoin (DOGE).   Musk stated that dogecoin "has currency potential." His tweet responded to a comment by dogecoin co-creator Billy Markus, who noted that the meme cryptocurrency appeals to him because "it knows it is stupid."   Elon Musk, the CEO of Tesla, reaffirms that Dogecoin "Has Potential as a Currency" as the Twitter deal is put on hold. The Tesla CEO's tweet reiterated his previous claim that DOGE is the best cryptocurrency for transactions.   On the other hand, he believes Bitcoin is better suited as a store of value. Musk, also known as the Dogefather in the crypto community, stated that dogecoin is "the people's crypto." Elon Musk, a long-time supporter of DOGE, tweeted in April 2019: "Dogecoin may be my favorite cryptocurrency." It's cool." In addition to bitcoin and ether, Musk revealed that he owns dogecoin.   Despite Musk's upbeat tweet, the cryptocurrency market is still struggling to recover, but he has provided some encouragement.   Germany Declares Crypto Gains Tax-Free After 1 Year While Indian investors are disappointed by crypto taxes, the German Ministry of Finance has issued an official letter confirming that the sale of crypto assets after one year is tax-free, even if the coins are used for staking and lending. According to the finance ministry, one of the most heatedly debated issues at a hearing last year was whether the tax-free holding period for crypto lending and staking should be a minimum of ten years.   According to the ministry, in collaboration with the federated states: “The letter now states that the so-called 10-year period does not apply to virtual currencies.” This could be another factor to drive demand in the cryptocurrency market.   Crypto Calendar: Events to Watch This Week The cryptocurrency calendar features two cryptocurrency-related events, one from Basic Attention Token (BAT) and one from EOS. The EOS Hard Fork is scheduled for May 19. The cryptocurrency mainnet adheres to a set of rules.   Changes are made on a regular basis to improve network performance or to correct errors. A hard fork is incompatible with previous versions of programs that support the cryptocurrency network, and miners must update their software to continue mining cryptocurrency.   In some cases, a completely new cryptocurrency may emerge due to a hard fork, as happened with Bitcoin Cash.   Fear & Greed Index Signals Extreme Fear, Cryptos on a Downtrend As investors seek to invest in risk-free securities rather than risky assets such as stocks and cryptocurrencies, the market's trading sentiment has shifted to bearish or risk-off. As discussed in last week's weekly report, companies using debt financing must pay higher interest rates as interest rates rise, reducing their profitability. As a result, investors seeking dividends or capital gains typically sell securities or stocks on the stock exchange.   Traders shift their funds to less risky assets such as government bonds and treasury bills. As a result, the global stock markets and cryptocurrency prices positively correlate, as we recently discovered. As a result, a decline in the stock market causes a decrease in cryptocurrencies.   Fear & Greed Index | Source: Alternative   The market's risk-off sentiment has triggered extreme risk in the market. As a result, the fear and greed index shows extreme fear, indicating that cryptocurrency traders' bearish bias is weakening. Extreme fear can mean overly concerned investors and oversold cryptocurrency markets. Typically, this is when investors look for a buy entry as the coins are already cheaper. So, look for buying opportunities as the bulls are expected to enter soon.   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin is currently trading at $29,600, with a trading range of $33,150 to $28,040. Overall, the strong bearish bias in the leading cryptocurrency appears to have abated, with the BTC/USD forming neutral candles.   On the daily timeframe, the BTC/USDT has formed a Doji candle and gained support at the 28,000 level. A Doji candle followed by a strong bearish price action typically indicates a weakness in selling pressure and a potential bullish reversal.   The RSI and MACD are holding under 50 and 0, respectively, indicating a selling trend. The RSI, on the other hand, has bounced off after testing 20 levels, indicating a possible reversal. As a result, an increase in Bitcoin demand and a breakthrough $33,1050 resistance exposes the BTC price to $37,500 resistance.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   The downward trendline and EMA series are adding to the selling pressure on BTC/USD. On the downside, the leading cryptocurrency, Bitcoin’s immediate support stays at the $28,000 level. A decline in demand and a bearish break below $28,000 expose Bitcoin to a $24,350 support level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin
Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!?

Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!?

Rebecca Duthie Rebecca Duthie 16.05.2022 18:54
Summary: What is Monero and how does it work? Advantages of Monero Past, present and future prices of Monero Background of Monero Cryptocurrency Launched in 2014, Monero is a privacy-orientated and open-source cryptocurrency. Its blockchain is not transparent, this makes every transaction untraceable and maintains the users’ anonymity. Its privacy makes Monero an attractive tool to use for illicit activities on the dark web. Moneros token is represented by “XMR”. It has a current circulating supply of over 18 million tokens, with an unlimited supply and a current market capitalisation of more than $3.1 billion. Investors are able to mine their own tokens Investors are able to mine Monero using their own CPUs, which means paying for special hardware is not necessary. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Moneros mining concept is based on the belief that every person using the platform is equal and therefore, deserves equal opportunities. When the blockchain was launched, the developers did not keep any stake for themselves, but they did bank on contributions and community support to further develop the virtual currency. Monero is the leading cryptocurrency that is focused on privacy Monero is currently the number one cryptocurrency that is focused on private and censorship-resistant transactions. Unlike major crypto platforms such as Bitcoin and Ethereum who have transparent and traceable blockchains, Moneros platform prioritises privacy by making use of privacy-enhancing technologies, this way Moneros users remain anonymous. Moneros transactions are untraceable and confidential, the platform is currently the only one whose users anonymity is guaranteed from the start. In order to keep the sender, receiver and transaction amount, the platform makes use of 3 technologies: Stealth Addresses: automatic one-time addresses for every transaction. Ring signatures: a group of cryptographic signatures with at least one real participant, but there is no specific way to know which in the group is the real one as they all appear valid. Ring CT: a way of hiding the amount of money in the Monero transaction. Monero’s fungibility Because there is no transparency in Monero and its untraceability, it is a true fungible currency. Fungible in this context refers t o the property of a currency where two units can be substituted in place of one another. Those who accept Monero transactions do not need to be concerned over tainted or blacklisted coins. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM Monero is electronic cash that allows fast, inexpensive transactions without borders. With the Monero platform, there are no wire transfer or check clearing fees, no fraudulent chargebacks and no multi day holding periods. Monero is decentralised, therefore there are no constraints by legal jurisdictions and provides safety from capital control. Monero attracts the world's best cryptocurrency researchers and engineering talent Monero attracts the world's best cryptocurrency researchers and engineering talent. Monero leads in the security within cryptocurrencies market, they have a research team who are consistently trying to improve on the technology for the platform. Monero relies on proof-of-working mining, which is an algorithm that provides security to certain cryptocurrencies. proof-of-work also prevents errors in the system regarding double spending which can skew supply. Buying Monero: Either buying the currency through an exchange Looking for a seller. Through an automated teller machine (ATM) that is enabled for cryptocurrency purchasing. Is Monero Illegal? Although some aspects of Monero sound as though they are illegal, Monero is infact a legal cryptocurrency. Due to its privacy aspect, the currency is popular on the dark web and is often used for trading on the black market, gambling and purchasing and selling of drugs. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Advantages of Investing in Monero: Its development is focused on a high security, privacy and anonymity guarantee. Transactions are not link-able in any way to any Monero user. The blockchain does not have a block size limit and is dynamically scalable. Even when the Monero total is mined, 0.6 MXR per block will be created to incentivize miners. It has gained a lot of growth regarding its price. Selective transparency, any user transactions visible to the people they choose to share them with. Past, Present and future prices: Some investors believe that if investors are looking to enter the crypto market, Monero could be a good investment, its token price jumped 231% between August 2020 to August 2021. The growth of Monero during this time period impressed stock markets. Recently, the greater financial markets, including the cryptomarkets have been experiencing volatility across the board. There is hope amongst experts that Monero will continue to grow until the end of 2022, and strengthen even further into the future as well. Some experts predict that by 2030, Monero tokens could be worth over $3000 Monero (XMR) Price Chart Sources: academy.bit2me.com, getmonero.org, finance.yahoo.com, investopedia.com
How could ongoing World Cup help Web3? Sorare, FIFA+ Collect and more explained

Binance Academy: FC Porto Fan Token - What Is It? PORTO Explained. Crypto And Football?

Binance Academy Binance Academy 17.05.2022 13:48
TL;DR FC Porto Fan Token (PORTO) is a BEP-20 utility token of the FC Porto football club. PORTO was launched in 2021 via a Binance Launchpad sale, and it gives fans and token holders exclusive experiences and privileges.  PORTO holders can participate in voting polls for club-related decisions, such as choosing the warm-up song and the welcome message to display in the next match. PORTO can also be used to purchase FC Porto’s NFT Mystery Boxes, and the NFTs can then be used for staking to earn extra PORTO rewards on the Binance Fan Token Platform.   Introduction Dedicated fans can now interact with their favorite sports teams and celebrities in a more innovative and direct way in the crypto world. Fan tokens are the latest trend that leverages blockchain technology to create exclusive experiences for sports enthusiasts and fans alike.   Learn more on Binance.com   What are Binance Fan Tokens? Binance Fan Tokens are utility tokens associated with sports clubs, teams, celebrities, or brands with a large fan base. Fan token holders can enjoy unique fan privileges, such as accessing exclusive pre-sales for event tickets and collecting special Non-Fungible Tokens (NFTs). In some cases, they can also influence club-related decisions like choosing new team uniforms, entrance music, and more. The Binance Fan Token Platform is the official partner of several football teams, including the S.S. Lazio (LAZIO), FC Porto (PORTO), and Santos FC (SANTOS). Unlike NFTs, Binance Fan Tokens are completely fungible tokens. Just like BNB, Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Being fungible means that every token unit holds the same value and utility.   What is FC Porto Fan Token (PORTO) and how does it work? Founded in 1893, the FC Porto football club has won the most international titles in the Portuguese Premier League and many other impressive achievements across Europe, such as the UEFA Champions League. To incentivize its worldwide supporters, the club partnered with Binance in 2021 to release the FC Porto Fan Token (PORTO). PORTO is the second sports fan token released through a token sale on the Binance Launchpad. It is a BEP-20 utility token on the BNB Chain (former Binance Smart Chain, BSC), with a total token supply of 40 million. PORTO has several fan-engagement use cases within the Binance ecosystem. As a utility token, PORTO gives holders governance rights to participate in voting polls related to the Portuguese football club. The more fan tokens they hold, the greater influence their vote will have on these fan-related decisions. For example, PORTO holders can choose the team's warm-up song for an upcoming match, as well as the welcome message to display during a match. Apart from governance rights, token holders can use their PORTO to purchase FC Porto’s NFT Mystery Boxes. These mystery boxes contain neutral, rare, or super rare NFTs from a unique collection. For example, the first PORTO NFT collection featured the team’s legendary goalkeepers. The PORTO NFTs are more than digital collectibles. They can also be used for staking on the NFT PowerStation, an innovative gamification feature on the Binance Fan Token Platform. By charging the required NFTs, fans can power up their fandom and claim extra PORTO rewards. The longer their NFTs are charged, the better their fan rewards. The NFTs can also be traded on the Binance NFT Marketplace. In the future, token holders will be able to use their PORTO for loyalty subscriptions, such as earning special rewards and fan badges, going to “meet and greet” events with team players, and receiving free merchandise. Fans can also use PORTO to purchase match tickets and pay for memberships on FC Porto’s e-commerce platform via Binance Pay.   How to buy PORTO on Binance? You can buy PORTO on crypto exchanges like Binance. 1. Log into your Binance account and go to [Trade] to select either the [Classic] or [Advanced] trading mode. 2. Click on [BTC/USDT] to open the search bar. Enter “PORTO'' to view available trading pairs. We will use PORTO/USDT for this example. 3. Go to the [Spot] box on the right and select your order type. For example, a market order. Enter the amount of PORTO you would like to buy, then click [Buy PORTO] to place the order. Your purchased PORTO will be credited to your Spot Wallet.         Closing thoughts Fan tokens are fuelling a new era of fan experiences by offering an innovative channel for fans to interact with their favorite teams. With the Binance Fan Token Platform adding new use cases to fan tokens, PORTO is expected to bring more exciting experiences to holders in the future.
Forget about the crypto winter; Bitcoin price readies to kick start the summer rally | FXStreet

Forget about the crypto winter; Bitcoin price readies to kick start the summer rally | FXStreet

FXStreet News FXStreet News 17.05.2022 16:35
Bitcoin price sees bulls popping back above $30,000 as it reclaims an important psychological area. BTC price is set to break above the high of last week and could rally to $36,709.19 by the end of this week. Expect to see a continuing rally with all stars aligned towards $44,088.73. Bitcoin (BTC) price sees bulls returning to the scene to pick up the pieces from the scattered BTC price that saw slaughter in the past trading days. BTC price quoting at a lucrative discount has made the asset attractive for cherry-picking traders and investors. With the Relative Strength Index (RSI) showing that Bitcoin still has a heartbeat, expect to see a full recovery towards $45,261, claiming back some critical levels in the process. BTC price set for complete recovery as heartbeat strengthens on the RSI Bitcoin price is showing signs of recovery after it took a beating for over two whole trading weeks. The most significant catalyst in that case was the dollar and its impact on BTC price. With the balance outweighing, in favour of the mighty dollar, BTC price is currently trading at a very nice discount. Should Bitcoin price drop below $30,000 somewhere this week, expect it to be scooped up quite rapidly and to quickly trade higher as the RSI is leaving the oversold area, proving that demand is there. BTC price thus sees investors and traders returning after a short hiatus as the dust settles over a few risk events, and some tail risks have gotten deflated. Hand in hand with that, the dollar is backing off, allowing some room for Bitcoin price to trade higher, with $36,709.19 acting as a line in the sand for this week. In case we see a weekly close above there, expect to see a rally next week towards $45,261.84, on the way up to the 200-day Simple Moving Average. BTC/USD daily chart Investors could be hesitant to pick up BTC prices after the image of cryptocurrencies got dented last week with Terra’s LUNA crash. Lack of interest could trigger a rejection at the first big hurdle at $31,321.98. Bears will probably use that level as entry to push price action back down and break below $30,000.00 again. As the price trades sideways, the risk is that interest fades and BTC price slips below $28,695 to test $24,000 to the downside.
Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Crypto Market Crash: Can (BTC/USD) Bitcoin Price Reach Less Than $10K!? Dogecoin (DOGE) Hasn't Fluctuated Much! ETH Has Decreased By 1.2% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 18.05.2022 08:37
Bitcoin has been hovering around the 30K mark for a second day, forcing the rest of the crypto market to balance declines and gains. Ethereum has lost 1.2% in 24 hours but remains near 2,000. Altcoins from the top ten are mostly declining, losing between 0.7% (DogeCoin) and 3.8% (Polkadot). Tron is gaining 1.7% but has been little changed since the end of last week. Total crypto market capitalisation, according to CoinMarketCap, declined 1.1% overnight to $1.29 trillion. Bitcoin’s dominance index remained unchanged at 44.3%. Bitcoin has stalled at the psychologically significant 30K level The Cryptocurrency Fear and Greed Index was up 4 points to 12 by Wednesday and remains in “extreme fear”. The index’s recovery from lows since 2019 is due to a waning selloff but not a market reversal to growth. Bitcoin has stalled at the psychologically significant 30K level and has also lost the momentum of the rebound at the 76.4% Fibonacci line from the downward move from late March to last Thursday’s lows. This is a typical shallow counter-trend correction. The inability of the market to develop the offensive from the current levels would raise the question that the final target for the downtrend would be the 161.8% area of that move, which is near $11.3K. Such a setback would cancel out all upside momentum from October 2020. So far, this scenario looks exceptionally pessimistic and needs to converge the disappointment of crypto-neophytes on top of an actual collapse of the global economy and stock market. Such a dip would leave Bitcoin’s price at only 16% of its peak, which has happened several times in its history. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM However, a significant drop below previous cyclical highs ($20K) would be unusual, although Bitcoin was previously repurchased on similar drawdowns. Perhaps a more cautious scenario would be a dip into the $20-23K area to close the gap at the end of 2020 or a return to the 2017 highs. The realist-optimistic scenario points to the possibility of cautious buying by long-term investors from current levels. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar However, it does not suggest a new wave of explosive growth, as financial conditions and a return to the area at the start of 2021 are disappointing for those investors who have been buying cryptocurrencies as a way to make a quick buck. Moreover, inflation has weaned 10% off the dollar’s purchasing power over this period. Among the news that caught our eye were: According to CoinShares, institutional investors invested $274 million in crypto funds last week, a record since the start of the year. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar. According to the Congressional Research Service (CRS), the stable coin market needs strict regulation. Because of the speculative nature of cryptocurrencies, investors need more protection, or they could lose confidence in the markets, SEC chief Gary Gensler said. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM The Portuguese authorities are considering introducing a tax on income earned from investments in digital assets. Dogecoin co-founder Billy Marcus called 95% of crypto-assets “trash” and suggested that 70% of investors don’t even understand the fundamentals of the crypto market.
Altcoins: What Is FTX (FTT Token)? - A Deeper Look Into The FTX Platform

Altcoins: What Is FTX (FTT Token)? - A Deeper Look Into The FTX Platform

Rebecca Duthie Rebecca Duthie 17.05.2022 15:57
Summary: What is the FTX Platform and how does it work? Advantages of the FTX exchange. FTX’s past, present and future price positions. The FTX platform and FTT token The FTX token (FTT) is the backbone of the FTX ecosystem. The current circulating supply of FTT is over 260 million, a current market cap of more than $8.4 Billion, the max supply is 332,173,812 tokens. FTT is the token of the crypto derivatives FTX, The FTX platform launched in May 2019. FTX is focused on trading many assets, such as derivatives, options, leveraged tokens and volatility products. FTT has leveraged tokens, which means traders can trade leveraged positions without the need to trade on margin. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM FTX’s creators The founders of FTX are some of the largest crypto traders who decided to create their own platform after finding many issues with most mainstream crypto exchanges. According to its creators, FTX stands out from other mainstream platforms due to its clawback prevention, centralised collateralised pool and universal stablecoin settlement features. FTX reduces the clawbacks on the platform by making use of a three-tiered liquidation model. Clawbacks refer to the amount of user funds that have been claimed by socialised losses. FTX derivatives are stable-coin settled and only require one universal margin wallet, this prevents fragmented capital across different wallets and exchanges which normally poses a problem for traders when it comes to liquidating positions. FTT has leveraged tokens, which means traders can trade leveraged positions without the need to trade on margin. FTT is an ERC-20- compatible exchange token. The Ledger Nano X/S hardware wallet allows users to securely store and manage FTT tokens via its Ethereum app. Both the leveraged tokens and FTT’s security audits are done by the Blockchain Consilium auditing firm. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM FTX is unique because it is backed by Almeda Research, which is well known as one of the leading companies in crypto trading and one of the largest liquidity providers. FTX covers services such as collateral, maintenance margins, liquidation processes and product listing. They are focused on fast development cycles which allows them to deploy crypto trading systems at competitive speeds. How to buy FTT: FTT is available on many crypto exchanges, such as binance, FTX and many more. The FTX exchange has not taken long to build up a reputation in the cryptocurrency market, it is known to be a fully-featured and robust trading platform. The FTX platform supports more than 275 cryptocurrencies The FTX platform supports more than 275 cryptocurrencies on its exchange, they are constantly expanding to add more cryptocurrencies to their exchanges, this makes it easy to access many trading options. Users are able to deposit to FTX in many different fiat currencies with no fees, trading is then made easy and only requires small fees, fees can be discounted if users are large volume holders as well as holding FTT tokens. The platform also offers spot trading for beginners, which include: stocks, leveraged positions, futures, and more. Advantages of the FTX platform and FTT token: Fast and easy to swap one coin or currency to another. Offers a mobile app for IOS and Android. Supports more than 275 cryptocurrencies. Low trading fees with discounts available. Stacking available: the ability to earn interest on cryptocurrencies. Hold and stake FTX’s tokens and receive benefits. NFT marketplace - buy and sell NFTs. 1% of all net fees donated to charities. FTX pay - an option to get paid in fiat currency or cryptocurrency. Advanced markets - forex, futures, volatility, leveraged tokens, stocks. Extremely secure exchange - suspicious activity is monitored. Past, present and future prices In the beginning, it took almost a year for the price on FTT to take off and gain traction but it soon saw high growth in 2021. Since then the price movements have shown volatility with no true trend. Currently the price of cryptocurrencies within the crypto market have been experiencing a lot of volatility, this is combining as a result of the volatility that is being experienced by the wider market. According to some analysts, going forward, FTTs price is expected to reach more than $90 in 2025. However, due to the volatility of the cryptocurrency markets and uncertainty around regulating the crypto markets, it is difficult to make accurate price predictions. FTT Price Chart FTT is not available in the United States or other jurisdictions that are prohibited. To allow users access to the FTX platform, the exchange created FTX US, which is distinct from the main platform and has fewer features and offerings. FTX has committed to buying FTT on its FTT/USD market, the purchased FTT will be burned weekly according to a schedule adopted by FTX. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network  Sources: finance.yahoo.com, coinmarketcap.com, ftx.us, marketplacefairness.org, cointelegraph.com, cryptonewz.com
Announcement of Pikaster (MLS) Token Sale on KuCoin Spotlight | KuCoin

Announcement of Pikaster (MLS) Token Sale on KuCoin Spotlight | KuCoin

Kucoin Blog Kucoin Blog 18.05.2022 14:24
KuCoin will be launching the 22nd Spotlight token sale with Pikaster (MLS) on May 18, 2022 (UTC). The MLS token sale will operate using the proportional distribution model. Spotlight Token Sale Details: (Subscribe Now) Token Name: Pikaster (MLS) Spotlight Hard Cap: 180,000 USD Spotlight Allocation: 1,500,000 MLS Spotlight Token Sale Price: 1 MLS = 0.12 USDT Token Supported: KuCoin Token (KCS) Only Price Ratio: The actual price ratio of KCS will be announced on the day of the Token Sale Token Sale Format: Proportional Distribution Model (PDM) Spotlight Token Distribution: 25% will be distributed on the Token Generation Event (TGE), the remaining 75% will be distributed in 25% batches every 2 months from the first distribution (before July 23rd, Sep 23rd, and Nov 23rd) Total Token Supply: 200,000,000 MLS Initial Circulating Supply: 10,000,000 MLS Pikaster Website: https://www.pikaster.com How to Participate Participants must have an average KCS holding of at least 100 KCS, where their final allocation of the new token is determined by the portion of their average daily KCS holdings against the total average daily KCS holdings by all participating users. To ensure a fair allocation for all participants, there will be a set hard cap for the token allocation per user. However, to let more new KCS holders enjoy the 22nd Spotlight, KuCoin will launch a whitelist campaign to exempt the minimum KCS holdings requirement. Token Sale Subscription Start Time: 08:00:00 on May 18, 2022 (UTC) Token Sale Subscription End Time: 00:00:00 on May 23, 2022 (UTC) KCS holdings Hard Cap Per User < 100 KCS (whitelist required) 150 USD (1,250 MLS) >= 100 KCS *Hard Cap: The max number of tokens you will receive. The Shares of Qualified Users Will Receive: (User’s KCS holdings / Total KCS holdings of all participants) * Total Spotlight Allocation (1,500,000 MLS) Exclusive Bonus for 22nd Spotlight! Bonus1: Each whitelist will be given one Pikaster NFT FREE to use for one month! Bonus 2 (IGO users only): Users who had successfully purchased Pikaster Genesis Mystery Egg in KuCoin 1st IGO will enjoy a bonus coefficient, where their final KCS holdings will be multiplied by 2. e.g. Alice has purchased one Pikaster Genesis Mystery Egg in the 1st KuCoin IGO. Assume that she holds 100 KCS during the snapshot period and has successfully participated in the 22nd Spotlight. Alice’s final KCS holdings will be counted as: 100 KCS * 2 = 200 KCS Daily KCS Holdings: From 16:00:00 on May 19, 2022 to 16:00:00 on May 21, 2022 (UTC), KuCoin will be randomly taking a snapshot of each user's KCS holdings on that day (3 snapshots in total). From the snapshot, each user’s daily KCS holdings will be determined. Only users who have a KCS holding equal to or greater than 0.1 KCS from the snapshot and click ‘Participate Now’ during the subscription period will be qualified for the 22nd Spotlight. *Sub-accounts can’t participate in the token sale as independent accounts. However, the KCS holdings in the Sub-accounts will be combined into the Master account for the calculation of the Average Daily KCS Balance. Daily KCS Holding Calculation Rules: Main Account * 100% Trading Account * 100% Finance Account (including locked and unlocked assets) * 100% Ongoing KuCoin Earn staking programs for KCS (locked assets): KCS-FOR-FCD-20D KCS-PLATO-30D Spotlight Token Sale Timeline: At 08:00:00 on May 18, 2022 (UTC), KuCoin will launch the Spotlight Token Sale and open the subscription for MLS. At 00:00:00 on May 23, 2022 (UTC), KuCoin will end this round of token sale registrations, counting the shares of all successfully registered participants. From 08:00:00 to 09:00:00 on May 23, 2022 (UTC), KuCoin will deduct the corresponding amount of KCS in the qualified users’ Trading Account and distribute the corresponding amount of MLS. We highly encourage you to have at least 20 KCS in your Trading Account on May 23, 2022. If the deduction is successful, the MLS will be distributed immediately to your Main Account; otherwise, your eligibility to purchase in the Spotlight will be lost. To participate in the token sale, your KuCoin account needs to meet the following criteria: Complete KYC2 (Advanced Verification) before 00:00:00 on May 23, 2022. If you fail to pass KYC2, then you will not be eligible for the token sale subscription. The following countries/areas are not supported for the purchase: Belarus, Mainland China, the Democratic Republic of Congo, the United States of America, Canada, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela, and Crimea. Purchase Agreement Signed. After completing the steps above, please be sure to click the ‘Participate Now’ button on the Spotlight page. Note: The above steps can be completed on the Spotlight page before the start time of the Token Sale. Learn More About Pikaster: Official Website: https://www.pikaster.com Twitter: https://twitter.com/PikasterNFT Telegram: https://t.me/Pikasterofficialchat Discord: https://discord.gg/bZ5EkEN9Z2 What is Pikaster (MLS) and How Does it Work? | KuCoin Crypto Gem Observer Watch the Pikaster video on KuCoin YouTube Channel: https://youtu.be/E7Loz_RhxcM Risk Warning: Spotlight is a high-risk investment channel. Investors should be sensible in their participation and be aware of investment risks. KuCoin is not liable for users’ investment gains or losses. The information we provide is for users to conduct their own research. It is not investment advice. KuCoin reserves the right of final interpretation of the activity. Thanks for your support! The KuCoin Team This activity is not related to Apple Inc. Find The Next Crypto Gem On KuCoin! Download KuCoin App >>> Sign up on KuCoin now >>> Follow us on Twitter >>> Join us on Telegram >>> Join the KuCoin Global Communities >>>
EOS Offers Its Users Nearly Free Transactions

Binance Academy: Crypto Cards Explained

Binance Academy Binance Academy 18.05.2022 16:22
TL;DR A typical crypto card lets you earn crypto rewards or instantly convert your crypto to fiat currency to pay for goods and services. Both Mastercard and Visa issue crypto cards, meaning you can use your crypto in millions of locations globally. A prepaid crypto card is similar to a debit card in that it has to be pre-loaded with crypto to spend. You can get a crypto card from a licensed issuer such as a crypto exchange or bank. However, crypto cards aren't without risk. Your funds stored on the card can still lose their market value, and any transactions you make with your card are likely to be taxable. Crypto credit cards work more like standard credit cards with crypto rewards. You can pay your credit card bill with fiat cash but receive crypto bonuses on the money you spend.  Binance offers a Binance Visa Card for KYC and AML verified customers. You can complete the sign-up process in under a few minutes and enjoy zero administration or transaction fees, cashback, and other benefits.   Introduction While much of crypto's interest is in its investment potential, it still has a use case in transferring value. Satoshi Nakamoto didn't create Bitcoin to make people billionaires. It was, however, designed as a global, digital payments system. One way to achieve this goal is with crypto cards. This payment method is now helping people use crypto and digital assets in their daily lives and even receive crypto rewards as well.   Learn more on Binance.com   What is a crypto card? A typical crypto card acts in a similar way to your debit card. You can pay for items or services that accept the card provider. While it might sound like you are paying a vendor directly with digital currencies, this isn't actually what happens. The vendor receives fiat cash into their account and not crypto. Your crypto card takes the cryptocurrency in your linked account, converts this into the local currency you're paying in, and then uses this cash to pay. We'll explain this with an example later on. Both Visa and MasterCard offer crypto cards with partner companies who apply for a license. These are the two most commonly used payment providers globally, making crypto cards almost universally accepted by retailers. Some crypto cards only offer crypto rewards on the money spent with the card. These cards are usually credit cards that require a credit check to sign up for.   How does a crypto card work? As we mentioned, a crypto card doesn't actually pay the vendor with crypto. It conveniently converts your crypto into cash which you can spend with the vendor through the card.  For example, imagine you have $500 (US dollars) of BNB in your Binance Card's Funding Wallet. At a restaurant, you go to pay the $100 bill with your crypto card. Once you have inserted your card and agreed to the payment, Binance sells $100 of BNB and loads the fiat onto the card. The restaurant then gets paid $100, and you're left with $400 of BNB in your Funding Wallet. All of this happens within the few seconds it takes to use your crypto card. You can also use crypto cards for ATM withdrawals if your service provider supports them. The same method above is used to withdraw your physical cash.   What are the differences between a crypto card and a credit or debit card? There are a few minor differences between credit and debit cards and crypto cards. For the most part, they function in the same way when it comes to paying. The most significant difference between a crypto card and a credit/debit card is that you load your typical crypto card with cryptocurrencies. A debit card is pre-loaded with fiat currencies, and a credit card's transactions are paid off later with fiat. A prepaid crypto card works similarly to a traditional debit card. You must have the funds in your account before you can spend them. You cannot load your cards with fiat cash but only with crypto. When you make a payment, your funds are converted immediately in your crypto wallet. On the other hand, Crypto credit cards extend a line of credit that lets you purchase now and pay later. Gemini and BlockFi both have released crypto credit cards with crypto cashback. Your credit card bill is payable in normal fiat currency, meaning that the crypto credit card is basically a rewards credit card. To order a card, you will have to be a customer with a company that already provides a crypto card, such as a crypto exchange or crypto-supporting bank that supports crypto. The process will involve you completing Know Your Customer (KYC) and Anti-Money Laundering procedures before you can order your crypto card, just like with any regular credit or debit card. With a crypto credit card, you will also need to pass a credit check.   What are the benefits of using a crypto card? The key benefit of a prepaid crypto card is the ability to use your crypto for everyday purchases. This has traditionally been difficult to do unless a vendor directly accepts crypto. Even then, some coins like Bitcoin can take 30 minutes for a transaction to confirm. The price is also volatile, meaning you may actually pay more or less than expected. Many crypto cards also come with benefits like cashback rewards or discounts with certain subscriptions like Spotify or Netflix. These benefits lure you towards a specific card provider and are similar to those offered with standard debit/credit cards. Make sure to compare what each card offers to find the best benefits for you. Don’t also forget to look out for possible exchange fees you might have to pay in the conversion process.   Do crypto cards have any risks? Having a crypto card provides all the same risks as holding crypto. If you have loaded up your account with Bitcoin (BTC) or Ether (ETH), your account’s fiat value will constantly change. This means you may not have the exact amount of money in your account as you think, depending on exchange rates. You should also remember that in many tax jurisdictions, the spending of crypto is a taxable event. This doesn't matter if you're spending a few dollars on a coffee or thousands of dollars on a car. If you have made any gains or losses on your crypto before you use it to purchase something with your crypto card, you'll have to pay or write off the appropriate taxable amount. You can avoid this problem by purchasing stablecoins to use with your crypto card, as the price very rarely changes from its pegged value.   What is Binance Card? Binance Card is a Visa debit card connected to your Binance account. By loading up your Card's Funding Wallet, you can spend crypto anywhere that Visa is accepted. It acts in the same way as the prepaid crypto debit cards mentioned above.   Which countries is Binance Card available in? Binance card is available only to users from selected countries, including:  Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.   How to apply for a Binance Card Getting a card is simple if you've already got a Binance account and live in an eligible country. If you aren't yet registered with Binance, you can follow our Binance Beginner's Guide and be set up in minutes. You will need to complete all relevant KYC and AML processes before successfully applying for a Binance Card. To order your card, make sure you're logged in and go to the Binance Card page. You can also navigate to this page by hovering over [Finance] on the Binance homepage and clicking [Binance Visa Card].     Next, click [Get Started] followed by [Order Card]. You'll now see some KYC information and an agreement to confirm.     After confirming, you will land on the Order Card page. Here you can choose the format of your name to appear on the card. Once you have confirmed your choice, click [Continue].       You will now find your details pre-filled out with extra missing information for you to fill in. Finally, agree to the Privacy Policy, Terms of Use, and Cardholder Agreement before clicking [Order Your Binance Card]. Once you've ordered your card, you'll also have access to a virtual card to use before your physical one comes. You can add this card to Google Pay Send, or even use it for online purchases. If you prefer to use the Binance mobile app, you can also order your card there. For more details on how to order a Binance Card, head to our FAQ.   Benefits of using Binance Card Apart from allowing you to spend your crypto in stores, restaurants, and VISA acceptors worldwide, Binance Card also has some unique benefits and perks. 1. Zero Fees - A Binance Visa Card is free for any Binance user. There are no Binance administrative, processing, or annual fees, but you may occasionally be subject to third-party fees. 2. You can keep holding your crypto - There's no need to exchange your crypto into fiat in preparation for purchasing something. Binance converts it exactly when you need to, which means that your crypto can still earn possible market gains.  3. Up to 8% cashback - Depending on your BNB monthly average balance, you will get up to 8% cashback on all your purchases. This cashback is given to you in BNB in your Binance account. You can read more details on the cashback program here. 4. Safe funds - Your crypto funds are SAFU and protected by Binance. Binance has a high level of safety and uses robust security standards.     Closing thoughts If you have some crypto that you no longer want to HODL, a crypto card makes converting to fiat simple. Without using a crypto card, you'd need to go through the conversion process and transfer the fiat manually to your bank account. This can take days to do, depending on your bank and cryptocurrency exchange. A crypto card really is one of the fastest ways to use your crypto for purchasing things and is a welcome development. However, always make sure that you keep accounts of what you spend for tax reasons.
Litecoin Finally Saw A Deeper Corrective Decline

Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform

Rebecca Duthie Rebecca Duthie 18.05.2022 18:40
Summary: What is the Litecoin Platform and how does it work? Advantages of the Litecoin exchange. Litecoin’s past, present and future price positions. Read next: Altcoins: What Is FTX (FTT Token)? - A Deeper Look Into The FTX Platform  The Litecoin Platform Litecoin is a peer-to-peer cryptocurrency and an open-source software project that was released unde the MIT/X11 license. Litecoin started in October 2011 as one of the first altcoins. Litecoin expands on the original Bitcoin (BTC) technology. Peer-to peer cryptocurrencies refer to transactions between two parties of some asset (such as digital currency) that does not require involvement from a central authority. LTC, Litecoins native coin LTC is the native cryptocurrency of the Litecoin Platform, the coins market capitailisation is over $4.7 billion, the current total circulating supply is 70.31 million coins and has a maximum supply of 84 million coins. Litecoin was the one of the first altcoins to enter the market, and currently sits in 21st position in terms of market capitalisation. Litecoin improved on the Bitcoin technology in a multitude of ways, some of these include faster processing speeds and lower transaction costs. The primary goal for Litecoin when it was launched, was to create another version of Bitcoin that is scalable and is aimed at smaller transactions. Is Litecoin a good investment? Although Litecoin does improve on Bitcoin technology, it still presents risks to investors. When the coin was first released, its technology was unique in the market, however since then, the uniqueness of the coins structure has began aging. Currently there are many other altcoins that are offering the same benefits and efficiency as Litecoin. Thanks to the age of Litecoin, this cryptocurrency holds value better than its younger altcoin counterparts who have smaller market capitalisations. Litecoin is a decentralised platform that has no censorship and is available to all. Users can send low cost, private, secure borderless payments to anyone they choose at anypoint and to anywhere in the world. Litecoin is blockchain secured, meaning that it is the largest global scrypt based network operating at 100% since 2011, tracasting and securing billions of dollars of value. Decentralised platform, it is not necessary to get approval to join the new age of money, it is easy to download a free exchange wallet and to invest in the future of finance. Evolving and immutable platform, Litecoins has lightning which is a development pioneers technology that allows instant global settlement of funds and atomic swaps for cross blockchain trustless trading. Where to invest in Litecoin: Users need to open a crypto exchange account, which will offer users access to a trading platform where they can buy and sell cryptocurrencies through placing buy and sell orders. Some examples or crypto exchanges that have Litecoin available: Coinbase, eToro, Gemini and many more. Advantages of investing in Litecoin (LTC): Lower transaction costs. With the Bitcoin platform, users lose part of their Bitcoin value when they transact between exchange wallets through a verification fee, this happens with Litecoin aswell, except the verification fee is lower than Bitcoins when transfers are initiated. Faster transaction speeds: the improved Litecoin network doesnt only extend its processing fees, it also allows users to send coins faster than the Bitcoin blockchain does. For example, the average Bitcoin transaction takes around 10 minutes whereas the average Litecoin transaction takes around 2.5 minutes. Open-source platfrom: the Litecoin platform is build on a naturally open-sourced fork of the Bitcoin Core Client. This makes it easier for the platform developers to implement new features and adjust the system in order to keep up with the ever-changing market. The platforms flexibility also allows the developers to implement software development security parts regularly in order to keep up with hackers and their innovative methods. Recognisability: Litecoin has been on the market for some time and despite its modern technological irrelevance, the coin remains one of the more well-known altcoins. Past, present and future prices of LTC In the past, it took Litecoin more than two years for its price to show any upward movements, this is likely due to the fact that cryptocurrency trading was not as popular back when they were first launched as they are now. Investors were even more uncertain of the crypto market than they are now. The price of Litecoin started to see some growth around the start of 2017, since then the price has fluctuated a lot, reflecting the volatility in the crypto markets. Since the start of the year the change in price of LTC has been less than -53%. Currently the broader financial markets have been taking strain, causing the cryptocurrency markets to express more than usual volatility. In the future analysts predict that the price of Litecoin (LTC) is expected to grow according to price predictions. Litecoin (LTC) Price Chart Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!?  Sources: finance.yahoo.com, litecoin.com, benzinga.com, coindesk.com, cryptonewsz.com
Bitcoin (BTC) is now better than the stock market but still in decline. Ether (ETH) Has Decreased By Over 4%, So Does Cardano (ADA) | FxPro

Bitcoin (BTC) is now better than the stock market but still in decline. Ether (ETH) Has Decreased By Over 4%, So Does Cardano (ADA) | FxPro

Alex Kuptsikevich Alex Kuptsikevich 19.05.2022 15:26
On Wednesday, Bitcoin was down 3%, ending the day around $29,200, remaining near that mark on Thursday morning. Ethereum lost 4.3%. Other altcoins in the top 10 fell from 1.8% (BNB) to 9.8% (Cardano). The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% overnight to $1.24 trillion. The Bitcoin Dominance Index rose 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory. Bitcoin resumed its decline on Wednesday amid a sharp weakening of US stock indices, which fell even more than BTC. The Nasdaq and S&P 500 lost more than 4% on Wednesday. The impressive oversold strength accumulated by the crypto market after it collapsed 40% from late March levels (versus 16% for the S&P500) temporarily limits the declining scale. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Nevertheless, the overall negative market sentiment has prevented the bulls from turning out in full force. So far, it isn’t easy to see reliable signs of oversold or rebound formation. We should be prepared for the cryptocurrency market to test support at last week’s lows again in the near term. We consider the area near 20K the final target for a potential selloff, which corresponds to Bitcoin’s long-term support line. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business Among the news that caught our eye were: Former US Federal Reserve chief Ben Bernanke called Bitcoin a harmful currency. He lashed out at cryptocurrencies, calling them “a great tool for extortionists”. Binance lost $1.6 billion due to the collapse of Terra tokens on the exchange’s balance sheet. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business. Investors were promised a 20% yield backed by a token whose value was determined by demand from new investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware South Korea’s Financial Services Commission, amid tensions in the Stablecoin market, is proposing to register cryptocurrencies based on their level of risk to investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware, which allows the theft of assets from hot cryptocurrency wallets. Birgit Rodolph, executive director of the German BaFin, called for universal regulation of the DeFi industry across the EU. Follow FXMAG.COM on Google News
Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

Crypto News: Bitcoin Price (BTC/USD) is range-bound. Will we see a break today? | 8cap

8 eightcap 8 eightcap 20.05.2022 04:05
Hi traders, today we’re seeing a similar pattern across several coins. After yesterday’s failed lower break attempt, ranges have developed. We’re seeing this pattern on a few, BTC, BNB, ETH, SOL, ADA, and XRP. We’ve zeroed in on Bitcoin as on the 4-hour chart. The range is quite symmetrical. We saw 29K come in yesterday as a demand point, and for now, price continues to hold above. The range can be broken down into inside action and overall action. On the side, we are looking at two possible directions. One, we see price maintain the pattern and move back to the bottom of the range. Two buyers regain momentum as we see a test or break of the range roof. If number two occurs, that will line up with the overall action idea of a new breakout due to steady demand seen yesterday rejecting seller attempts to break lower. We can also see a trend break on the four-hour chart and a fast trend break on the daily. If sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance If buyers clear the range, we could see resistance develop from 32,200. On the other side, if sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM It will be interesting to see which side wins this battle. Hoping all of our readers have a wonderful weekend. Bitcoin 4H Chart The post Crypto News: Bitcoin is range-bound. Will we see a break today? appeared first on Eightcap.
Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform

Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform

Rebecca Duthie Rebecca Duthie 20.05.2022 09:28
Summary: What is the PancakeSwap Platform and how does it work? Advantages of the PancakeSwap exchange. PancakeSwaps past, present and future price positions. The PancakeSwap Platform PancakeSwap is an automated market maker (AMM), a decentralised finance (DeFi) application which allows users to exchange tokens and provides liquidity via farming and earning rewards. PancakeSwap was launched in September of 2020. PancakeSwap users trade against a liquidity pool, which are filled by users with deposits and in return receive liquidity provider (LP) tokens. The liquidity provider tokens can later be used to reclaim their deposits plus a portion of the trading fees. PancakeSwap also allows users to farm CAKE and SYRUP tokens, users can deposit liquidity provider tokens and receive CAKE as a reward. Current circulating supply is more than 296 million, with a maximum supply of 750 million tokens. The current market capitalisation is more than $1.3 billion. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM PancakeSwap allows users to trade BEP20 tokens (token on the Binance smartchain), and provides liquidity to the exchange and earn fees, stake liquidity provider tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens of other projects. CAKE is a BEP20 token, which originally launched on the Binance smartchain, the CAKE tokens main purpose is to try and incentivise the liquidity provision to the PancakeSwap platform. What makes PancakeSwap unique? Due to the automated market maker model, PancakeSwap does not have any order books and so liquidity pools are used instead. Users can earn income through becoming a liquidity provider, this is done through adding their tokens into the liquidity pool and from there they can farm liquidity provider tokens and stake their CAKE, whereby they can earn rewards. PancakeSwap uses a process called farming, which refers to the process of depositing liquidity provider tokens and locking them up. Farming gives users a reward earning opportunity. The tokens can be unstaked without any waiting period. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM PancakeSwap is one of the most popular decentralised platforms that is available to users for trading, winning crypto and earning. The platform is trusted with billions by millions. PancakeSwap has the most users of any decentralised platform, ever. The platform has 2.9 million users over 40 million trades in the last 30 days and a stake of $4.8 billion. PancakeSwap is the leading decentralised exchange available on the Binance (BNB) smart chain and has the highest trading volumes in the market. The fact that PancakeSwap runs on the Binance smartchain means that automatically the transaction fees are lower. The fees are also lower than any of the other top decentralised exchanges. The decentralised aspect of the PancakeSwap platform allows users to trade directly from the wallet app, unlike centralised exchanges, PancakeSwap does not hold their users funds, the users’ cryptocurrency is 100% their own. Earn tokens with Syrup pools, when users stake CAKE, they can earn free tokens. The CAKE Syrup pools are known as the easiest way to earn free tokens on PancakeSwap. The syrup pools in crypto are special staking processes. Advantages of holding PancakeSwap: It solves the problem of growing centralisation in the market, by exiting the confines of the Ethereum ecosystem and the regulation and uncertainty that comes with the Ethereum blockchain. Selection: PancakeSwap allows users access to new tokens, in addition the platform allows users to transfer all kinds of other tokens (USDT, BTC, BUSD and ETH) from the ETH chain to the BSC chain by using the deposit features. Users of PancakeSwap gain access to all the top projects in the market. Interconnectivity: the platform was built with the intention to link multiple wallets such as Trust Wallet, TokenPocket, WalletConnect and more. The point of linking wallets was to try to ensure users are able to trade between the PancakeSwap platform and the Ethereum platform. PancakeSwap linked the blockchains as they knew a large portion of their user base would likely come from the Ethereum platform. Ease of Use, users do not need prior experience to use the PancakeSwap platform. PancakeSwap Transactions are cheaper, the average transaction on the platform sits at around $0.08. PancakeSwap is faster, in many cases the transaction time is 5 seconds or less. Profits, PancakeSwap is consistently introducing innovative ways to create new income streams. Private, the platform doesn’t require an intense signup process, all users need to do is sign up and add their wallets. PancakeSwap is proven to be very secure. Follow FXMAG.COM on Google News Past, present and future prices PancakeSwaps (CAKE) price didn't take very long to begin to see gains. The cryptocurrency hit its peak price in May of 2021, and has since seen an overall downward trend mixed with volatility. In the past 24 hours PancakeSwaps value has increased in value, so far the month of May in 2022 has seen volatility in all markets across the board including the cryptomarket. According to certain analysts going in the future to 2030, the price of PancakeSwap could reach $188. However, markets are volatile and so it is difficult to make an accurate prediction. PancakeSwaps Price Chart Sources: coinmarketcap.com, finance.yahoo.com, docs.pancakeswap.finance, pancakeswap.finance, securities.io, crowdwisdom.live
China: Slowdown in Non-Manufacturing Activity Raises GDP Downgrade Concerns

US Close – Stocks Near Bear Market, Crude Oil Price Higher On Supply Concerns, Gold Price (XAUUSD) Pops, Bitcoin (BTC/USD) Stabilizes | Oanda

Ed Moya Ed Moya 19.05.2022 23:51
US stocks edged lower as Wall Street became more focused over a deteriorating growth outlook that could see stubbornly high pricing pressures for the Fed into a much more aggressive tightening cycle. It doesn’t seem like we will see a deceleration in pricing pressures and that has many traders worried that the Fed will send the economy into a recession.  Right now markets are functioning properly but if we see another 5% decline with stocks, credit conditions will worsen and that could provide the Fed an excuse to stop tightening so aggressively.  Tighter financial conditions will hurt the parts of the economy that are doing well and further selling of stocks could remain the theme if the S&P 500 enters a bear market.  The S&P 500 is looking vulnerable here as more strategists slash their forecasts as recession risks rise.  Fed (Federal Reserve) Fed’s George affirmed the board’s stance that a half-point rate increase pace is appropriate.  The Fed remains focused with fighting inflation and they will remain aggressive with tightening policy until liquidity becomes a concern.  FX (Forex) The dollar is in freefall as investors buy up Treasuries over concerns that the economy is headed for a rough patch. The dollar was ripe for a pullback and today’s across the board weakness might continue a while longer. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM US Data A wrath of US economic data painted a gloomy picture of the economy: Jobless claims rose, the housing market is clearly cooling, another Fed regional survey showed the weakest print since early in the pandemic and the leading index turned negative.  Weekly jobless claims rose from 197,000 to 218,000. The Philly Fed manufacturing outlook fell sharply from 17.6 to 2.6.  Surging mortgage rates and record home prices led to a drop in April existing home sales  Crude Oil Price Crude prices rallied as the EU nears a key deadline to pay for Russian oil with a roubles account.  The oil market just has too many risks to supplies and still a strong short-term travel outlook both in the EU and US.  WTI crude should be well supported at the $100 level as US production is slowly increasing. Recession fears are rising but that impact won’t be felt for quite a while, which means the oil market won’t see imminent crude demand destruction. Crude inventories are too low for oil traders to turn bearish with WTI crude. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Gold Price Gold is acting like a safe-haven again as recession fears are triggering massive demand for Treasuries, which is sending both yields and the dollar lower. The US labor market is showing signs of weakness and that could lead fears that consumer spending will deteriorate much faster than most are expecting. The dollar is getting sold against everything and that is great news for gold. Right now, investors are looking for safety and Treasuries and gold should both outperform in the short-term.   Bitcoin (BTC) Bitcoin is hovering around the $30,000 level as investors continue to shy away from stocks.  A weaker dollar and bear market stock fears are making Bitcoin attractive again.  It seems the fallout from all the stablecoin drama that sent cryptos sharply lower is finally fading.  Bitcoin looks poised to consolidate here, but bulls should be happy to see prices are not mimicking what happens with the stock market.   Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Follow FXMAG.COM on Google News
Is Do Kwon going to get arrested after Terra's LUNA price collapse?

Is Do Kwon going to get arrested after Terra's LUNA price collapse?

FXStreet News FXStreet News 19.05.2022 16:32
Terra's LUNA price and UST suffered a colossal crash and lost over $39.2 billion in market cap, fueling outrage among holders. A Terra holder filed a police complaint against Do Kwon, revealing thousands of Singapore investors are victims of the death spiral. The Korean National Tax Service has imposed $78.4 million in corporate and income tax on Do Kwon and Terraform Labs. The collapse of Terra's LUNA price and algorithmic stablecoin TerraUSD (UST) has sparked outrage in the crypto community. Institutions and retail investors suffered significant losses when $40 billion in LUNA and UST’s market value was destroyed within a week. Do Kwon, CEO of Terraform Labs, is in the midst of all the anger, and legal issues are starting to surround him. Terra’s LUNA price death spiral The crypto community witnessed the first “crypto bank run” in history when both Terra's LUNA price and UST crashed, wiping out nearly $39.2 billion in market value within a week. UST, Terra’s algorithmic stablecoin, suffered a de-peg, losing its $1 parity, and is trading at $0.08 at the time of writing. Likewise, Terra’s native token LUNA plummeted from $77 to $0.000001 within a week. LUNA and UST three-day chart In a series of tweets, the Luna Foundation Guard revealed that it had transferred 52,189 BTC to “trade with a counterparty” as UST fell below its intended $1 peg. This was an attempt to reestablish the algorithmic stablecoin’s peg. Terra directly sold 33,206 BTC in a last-ditch attempt to defend UST’s peg, to no avail. Terra’s blockchain was halted several times on and thereafter, and LUNA and UST were delisted from multiple cryptocurrency exchanges, including Binance and Coinbase. LUNA and UST holders outrage Cryptocurrency investor forums on Reddit have noted the rising outrage against Do Kwon. A LUNA holder filed a formal complaint with the Singapore Police and referred to Terra's crash as a “cryptocurrency scam,” seeking justice for all affected investors. Meanwhile, another furious investor broke into Kwon’s appartment in South Korea looking for answers after the token spectacularly collapsed. Kwon’s wife has since reportedly been either placed in protective custody or is under police guard at her own request. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Investors from different backgrounds have urged authorities to arrest Kwon, forcing South Korean lawmakers to summon the co-founder of Terraform Labs. Kwon would have to appear before the South Korean Congress and testify on the subject of the algorithmic stablecoin UST’s and LUNA’s collapse. Rep. Yoon Chang-Hyeon, of the South Korean People’s Power Party, addressed the collapse of Terra’s death spiral at a plenary meeting of the National Assembly's Political Affairs Committee on Tuesday. He said: We should bring related exchange officials, including CEO Kwon Do-hyung of Luna, which has become a recent problem, to the National Assembly to hold a hearing on the cause of the situation and measures to protect investors. Do Kwon under investigation According to the Korean National Tax Service, Kwon is currently under investigation for tax evasion after LUNA and UST collapsed due to a corporate and income tax burden of $78.4 million. Korean media's DigitalToday has obtained documents from the South Korean Supreme Court Registry Office that reveal Kwon decided to dissolve Terra's Seoul and Busan branches during its general shareholders' meeting on April 30. Following Do Kwon's decision, the Busan branch was liquidated on May 4 and Seoul branch on May 5. The documents carry Kwon Do-Hyeong's (official name of Do Kwon) name as the liquidator of Terraform Labs' offices. With the new findings, it has become clear that there is more to Terra's collapse than a coordinated attack or UST's de-peg. Kwon remains under suspicion in the investigation conducted by Korean authorities. Moreover, a specialized financial crimes unit in South Korea, the ‘Yeouido Grim Reaper’, has been tasked with the investigation of Terra’s collapse. The unit consists of 48 people made up of seven prosecutors and other executives from the Financial Services Commission and Financial Supervisory Service that have been called to investigate the methods by which Terraform Labs attracted investors to its tokens. The committee was disbanded two years ago but has been put back together to look into the events surrounding Terra’s demise and the extent of investor damage caused. Some win and others lose US asset management company Pantera Capital turned a $1.7 million investment in LUNA into $170 million by cashing out its investment well ahead of the crash. The institution, creator of the first blockchain hedge and venture funds in the US, did not suffer significant losses from Terra’s collapse as it pulled 80% of its investments out of LUNA over the last year. Apart from their LUNA investment, Pantera Capital had backed Terraform Labs, injecting $25 million in January 2021 and joining a $150 million fund round in July 2021. The firm recovered its investment before LUNA’s freefall to zero. Pantera Capital’s exit from LUNA is considered suspicious. Joey Krug, co-CIO at Pantera Capital, clarified that the institution purchased LUNA in the public market in July 2020, and not in a private financing round. Krug said, We managed that position down over time as it became increasingly profitable/large, in order to maintain a diversified portfolio. We initially invested in LUNA because of the progress we saw in developer adoption, the payments usage, and the broader ecosystem being built on Terra. Galaxy Digital, a US broker-dealer and another Terraform Labs investor, didn’t have the same luck. The firm started investing in LUNA in Q4 of 2020 and reported losses of $300 million for this quarter. In a letter, CEO Mike Novogratz told investors that: With our diversified business lines, Galaxy remains in a strong capital and liquidity position. We are well-positioned for long-term growth. Likewise, Binance had invested $3 million into the Terra ecosystem in 2018, receiving 15 million LUNA tokens. At LUNA’s all-time high, the investment was worth $1.6 billion. Yet due to last week's collapse of Luna, those 15 million LUNA tokens plummeted in value to just $3,400. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM A hard fork to create LUNA Classic and LUNA Core Do Kwon proposed the burning of UST, by increasing LUNA’s minting capacity from $293 million to over $1.2 billion. According to the Terraform Labs CEO, this is the only way to absorb UST’s supply and reestablish its peg. The plan was considered “high cost” for LUNA, UST holders and the Terraform Labs CEO faced criticism for the proposal. Kwon then focused on LUNA’s recovery without the algorithmic stablecoin UST. Since Terra’s ecosystem is not strong enough to build up and drive recovery in both Terraform Lab tokens, Kwon considered a practical and sustainable structure to preserve the developer ecosystem and the community. Kwon’s new and updated proposal suggests a fork in LUNA and the creation of a new Terra chain. The old Terra chain would be called Terra Classic (LUNC), while the new chain would be Terra (LUNA). The new chain would be fully community-owned, and the Terra Foundation wallet would be removed from the whitelist for the airdrop. Validators would reprogram the network ownership to $1 billion, distributing them to affected parties. 40% of the network’s ownership, $400 million would be allocated to LUNA holders (who held the token before UST de-peg). The hard fork offers to allay UST holders’ concerns by offering 25% at the Launch snapshot on May 27, 2022. 10% would be unlocked at genesis and the remainder would be unlocked over a period of two years. 25% would be reserved for the community pool. The co-founder of Terraform Labs believes Terra can recover from the coordinated attack by becoming a fully community-owned chain. Proposal 1623, the revival plan for LUNA without UST, has received 77.96% positive votes from the community. 1.39% of the community members abstained from voting. The whole crypto market bleeds After Terra’s LUNA and UST implosion, most crypto assets suffered heavy losses. Check out in this video what's next for Bitcoin! Follow FXMAG.COM on Google News
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Bitcoin Price (BTC/USD) Entrenched At $30K, Ether (ETH), Solana (SOL), Ripple (XRP) Have Gained! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 20.05.2022 11:17
Bitcoin fluctuates around $30K and has crossed that line daily in one way or another over the past 12 days. A 3.5% increase in the day’s results on Thursday turned into another pullback on Friday morning. Ethereum has strengthened by 3.5% in the past 24 hours, finding itself pegged at $2000. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”) Other altcoins in the top 10 gained between 0.4% (Solana) and 5.5% (XRP). Total cryptocurrency market capitalisation, according to CoinGecko, rose 3.1% overnight to $1.28 trillion. The Bitcoin Dominance Index rose 0.1% to 44.8%. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”). Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars Bitcoin and the entire cryptocurrency market’s protracted tug-of-war promises to resolve with a strong move in one direction. However, there is hope for both bulls and bears. The latter has a minor advantage, as we saw this area touch down from above in January and June-July 2021. But now, all the fighting is concentrated below. Among the crypto news that caught our eye: MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars. Bitcoin’s drop below $30,000 last week came after a large volume of the cryptocurrency entered exchanges. According to IntoTheBlock, traders have sent around 40,000 BTC to exchanges since May 11. According to an audit report by accounting firm MHA Cayman, USDT stable coin issuer Tether Holdings Limited reduced its reserves in the commercial papers by 17%, improving the quality of its funds. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM The Ethereum development team said it would migrate the Ropsten test network to the Proof-of-Stake (PoS) consensus algorithm on June 8 2022. According to the legislation, SEC chief Gary Gensler has warned that the regulator is ready to take new measures against unregistered cryptocurrency companies. The US Commodity Futures Trading Commission (CFTC) believes that amid a rise in cryptocurrency crime, the watchdog must strengthen regulation of digital assets to crack down on fraud and manipulation. Follow FXMAG.COM on Google News
Forex: Could Incoming ECB Decision Support Euro?

The Trade Off Ep 23 - Market sentiment, crypto, rates and more! | Chris Weston

Chris Weston Chris Weston 20.05.2022 11:12
Blake and Chris are back in another 'from home' episode! Markets are looking increasingly bleak and our hosts are looking for nuggets for our community of traders. We talk current markets and look at a wide range of asset classes, both fundamental and technical analyses and what you need to know about trading this week.   00:00 - Disclaimer and intro 01:42 - Welcome chat: Numb to volatility? 03:19 - Topical Thunder: Market sentiment 07:03 - Crypto 10:47 - Cuts 14:13 - Safe havens: Gold, Bonds & USD 18:04 - That's a Setup: US500 20:40 - 10Yr US Treasury 22:14 - EURUSD 25:28 - ZAR 28:06 - Westy's Play of the Day: Long/Short idea 29:19 - Blake's Play of the Day: Short BTCUSD 30:26 - Wrap-up   Prefer to listen rather than watch? The Trade Off is also a podcast! Listen either Apple Podcasts or Spotify. Apple Podcast: https://podcasts.apple.com/au/podcast... Spotify: https://open.spotify.com/show/7gzvAJx... Looking for some in-depth how-tos for scalping the FX market? Check out the next week's free FX Evolution webinar on scalping FX majors right here on our channel: https://youtu.be/Xk7wh8fYIWw Follow us on Telegram for daily market news and insights: https://t.me/s/PepperstoneFX Subscribe to Chris Weston's Daily Fix newsletter: https://cloud.go.pepperstone.com/join... The Trade Off is powered by Pepperstone. Pepperstone is an online FX/CFD broker providing traders across the globe with cutting-edge technology to trade the world’s markets. We’re driven to provide traders with low-cost pricing across all instruments including FX and CFDs (crypto, commodities, indices). Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information provided here, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted. #fx #trading #CFDs  
Bitcoin Is Showing The Potential For The Further Downside Rotation

"Cryptocurrencies have no value and are not based on anything." - said Christine Lagarde (ECB). Bitcoin Has Decreased By 3.6%, ETH Gone Down By 5.8%, XRP And ADA Declined As Well | FxPro

Alex Kuptsikevich Alex Kuptsikevich 23.05.2022 09:23
Bitcoin is down 3.6% over the past week, ending near $29,900. Ethereum lost 5.8%, while other leading altcoins in the top 10 fell from 5.4% (XRP) to 9.2% (Cardano). The exception was Binance Coin (+3.3%). By Monday, the cryptocurrency fear and greed index is down 4 points to 10 According to CoinMarketCap, the total capitalisation of the crypto market has changed little over the past seven days at 1.29 trillion, as the decline at the beginning of the last week was largely reversed by its end. By Monday, the cryptocurrency fear and greed index is down 4 points to 10. Bitcoin has declined for seven consecutive weeks amid a sell-off in stock markets. Bitcoin is in its 13th day of trading through the $30K level. Galaxy Digital CEO Mike Novogratz said that the altcoin market will collapse by another 70% Over the weekend, we saw almost traditional buying by retail investors, but their strength only allowed them to bounce back from Friday's losses. If we look at Bitcoin as a leading indicator of risk demand rather than tailing off moves in the S&P500 or Nasdaq, we may well be in a situation where the tail rules the dog. Galaxy Digital CEO Mike Novogratz said that the altcoin market will collapse by another 70% with US Fed policy and a bearish trend. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Microsoft co-founder Bill Gates said he only invests in assets that "deliver returns". In his view, cryptocurrencies do not fall into that category. Billy Marcus, one of the creators of Dogecoin, said the cryptocurrency market is a mix of unhealthy optimism, FOMO, panic, scams, gambling, and widespread stupidity. He said he has not been involved in the DOGE project for more than 7.5 years but describes himself as a coin supporter. Follow FXMAG.COM on Google News ECB head Christine Lagarde said that, unlike central bank digital currencies, cryptocurrencies have no value and are not based on anything. A group of G7 finance ministers pointed to the importance of accelerated legislation to regulate digital assets following the collapse of the UST stable coin and LUNA cryptocurrency.
Weekly NFT Update (Week 20, 18/05/2022 – 24/05/2022) | crypto.com

Weekly NFT Update (Week 19, 11/05/2022 – 17/05/2022) | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 18.05.2022 23:32
BoredApeYC #6462 sells for 200 USDC as seller misreads offer. OpenSea announces plans to combat fake accounts and counterfeit NFTs. Crypto.com NFT announces the ‘UFC collection book’. MAY 18, 2022     Key Takeaways BAYC #6462 was sold for 200 USDC because the seller misread the offer. On Sunday, Boredapebot, a Twitter handle that posts sales of Apes from the Bored Ape Yacht Club (BAYC) collection, revealed that someone sold Ape #6462 for a measly 200 USDC (US$200). OpenSea announced last Wednesday that it is rolling out new copy detection and verification features to detect fake accounts and counterfeit non-fungible tokens (NFTs). As the ‘Official Fight Kit Partner’ of Ultimate Fighting Championship (UFC), Crypto.com announced on Monday that the UFC Collection Book is now live on Crypto.com NFT. Fight fans will be able to take their NFT collections to the next level with this exciting launch. LooksRare recorded -75% and -17% decreases in sales and transactions, respectively. OpenSea‘s sales and transactions were also negative, at -52% and -14%, respectively. Crypto.com NFT in the Spotlight Lil Bitcoin GENESIS: Access Pass is the prequel and early access to the “Genesis” of Lil Bitcoin: Satoshi’s Desk NFT drop which comes out next June 2022, created to protect decentralisation from the ‘Fi-Opps’ (worshippers of fiat currency and centralisation). Crypto.com is now introducing its latest in-game development – Player vs Environment! Kryptomon PvE Celebration – Kryptomon, an NFT play-and-earn blockchain game, is celebrating another advancement towards the formation of its Metaverse.  Highlights BAYC Band ‘Kingship’ launch virtual world with Key Card NFTs 24-hour transaction volume of Cryptopunks exceeds $3.8M, an increase of over 350% NBA legend Dwyane Wade likes to take risks in business, and now he’s getting into NFTs Overly integrates OpenSea for simplified AR NFT experiences CleverFiles is launching NFTs for software licences of disk drill AC Milan and BitMEX reach a partnership to release a ‘Born to Lead’ NFT series Chainsmokers will release music NFT on the royal platform The Tezos Foundation commits £1M to create a permanent collection of NFTs A16z leads $25M seed round for NFT infrastructure startup Co:Create Spotify experiments with musician NFT galleries NFT liquidity platform SOLARR completes $2M seed round financing Pepsi and Billboard to drop first-ever live NFTs KFC launches Original Moments NFT series in Malaysia Feminist artist launches ‘no more’ NFT series condemning domestic violence Mr. Bean announces partnership with FOMO lab to launch Mr. Bean NFT Crypto market downturn leads to steep drop in blue-chip Ethereum NFTs Transaction Volume Benchmark     Top Collectibles     The following chart shows selected top NFTs and their historical floor prices. Upcoming NFT Sales The following table shows the top upcoming NFT sales and a sample of their art.   Project Name Sale Date Price Items Market Cap  Sample Bibbop Collection 25 May 2022 0.70 (ETH) 5,555 3,888 (ETH) Xkart Racing 25 May 2022 2.00 (AVAX) 5,000 10,000 (AVAX) Sol Coin Collections 11 Jun 2022 1.00 (SOL) 7,000 7,000 (SOL) Blankos Block Party 18 May 2022 0.25 (ETH) 1,800 450 (ETH) 3D Venetian Mask 21 May 2022 60.00 (CRO) 20 1,200 (CRO)       * Collectibles data from Rarity Tools, Crypto.com  Top Artists The following table shows selected top artists (by sales volume on each platform) and a sample of their art.   Platform Artist Sales Volume (USD) Sample Crypto.com NFT Loaded Lions $727,400 Solanart Degenerate Ape Academy $34,356 OpenSea PXN: Ghost Division $37,004,652         Tags CRYPTO CRYPTO RESEARCH CRYPTO.COM RESEARCH CRYPTOCURRENCIES MARKET NFT Source: crypto.com
Layers 1 & 2 (Week 29, 19/07/2022 – 25/07/2022)

Weekly Layers 1 & 2 Update (Week 19, 10/05/2022 – 16/05/2022) | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.05.2022 13:37
Terra blockchain restarts after LUNA price crash. New BTC mining project launches in Mobile, Alabama. Ex-Meta crypto chief unveils Lightspark, a new project for enhancing Bitcoin, Lightning Network. Key Takeaways The Terra (LUNA) blockchain was restarted on Thursday due to security concerns arising from LUNA’s price crash to under US$0.01. Do Kwon has proposed a plan that may involve forking the blockchain in an attempt to revive the ecosystem. The city of Mobile, Alabama has embraced crypto with a project for sustainable Bitcoin (BTC) mining using 100 Bitmain Antminer S19s. Meta’s former crypto chief David Marcus introduced Lightspark, a new project that aims to expand the capabilities of Bitcoin and the Lightning Network. Infinity Wallet now supports the Cronos chain, including CRC20 tokens and DApps. Cronos (CRO) saw a +4.25% increase in total transactions to 40.96M, while the total number of wallet addresses increased to 802,670, up +5.43% from last week. Highlights Bitcoin miner Bitfarms scales back growth plans for 2022 after drop in revenue, net profit Bitcoin miner Iris Energy reiterates hashrate view; revenue misses estimates Cardano releases new Daedalus wallet updates Celer cBridge partners with Crabada’s Swimmer Network to enable cross-chain asset transfers Celsius announces plans for an IPO of its Bitcoin mining subsidiary Fantom upgrade: Introducing Snapsync Major validator calls for ‘Completely new chain’ to replace Terra Polygon burned additional than 1.6 million MATICs in just 4 months of implementing EIP-1559 Polygon and others extend helping hand to Terra blockchain projects StarkGate Alpha: Introducing the First Version of StarkNet Bridge The latest Zcash software release supports the network’s ‘Largest upgrade in history’ Layer 1 Project Metrics     * % change is based on the difference between two subsequent bi-weekly periods† Sum of P, X and C-chain total transactions ‘–’ denotes missing, unavailable, or incomplete dataSources: Coingecko, Etherscan, Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan, CronoScan, Cronos Explorer, DeFi Llama Layer 2 Project Metrics     * Figure refers to Lightning nodes with active channels† Ronin is the sidechain developed by Sky Mavis for Axie Infinity ‘–’ denotes missing, unavailable, or incomplete dataSources:  DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES LAYER 1 LAYER 2 Source: crypto.com
Weekly DeFi Update (Week 22, 30/05/2022 – 05/06/2022) | crypto.com

Weekly DeFi Update (Week 19, 09/05/2022 – 15/05/2022) | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 16.05.2022 14:17
USDT briefly loses peg after the collapse of LUNA and UST. Do Kwon publishes a ‘Terra Ecosystem Revival Plan’ outlining the way forward. Key Takeaways  Tether (USDT) briefly lost its dollar peg this week, dipping as low as US$0.95 on Thursday as the collapse of LUNA and UST shook the market’s confidence. However, the $1 peg was restored by Friday. At the time of writing, USDT is trading slightly under $1, at $0.9989. Celsius reportedly removed at least $500M from Anchor during the recent UST turmoil. Founder Alex Machinsky took to Twitter to deny recent rumours of losses as a result of market volatility. UST’s depegging continued this week, with LUNA falling to below $0.01. Do Kwon published a Terra Ecosystem Revival Plan over the weekend which aims to lay out the way forward for the ecosystem. This week’s price index was negative at -33.72%, while the volume and volatility indices were positive at +67.25% and +230.03% respectively. Highlights Terra, Luna, and UST: How we got here Lido Warns Leveraged Traders at Risk of Liquidation as ‘Staked Ethereum’ Loses Peg Lido Deploys Additional Curve Pool to Improve Liquidity Around Bonded ETH Peg Terra fork won’t work, according to Binance CEO UST’s Do Kwon was behind earlier failed stablecoin, ex-Terra colleagues say Tether to move over 1B USDT from Tron to Ethereum and Avalanche Crypto lender’s Tether loan halved Blockchain analytics provider Nansen integrates and invests in DeFi data app APY.vision Aurora launches $90 million developer fund to boost DeFi on NEAR Protocol Over $1.2 billion in bitcoin reserves remains unaccounted for by Luna Foundation Guard Blizz Finance protocol drained after Chainlink pauses LUNA oracle Trader may have lost $9M in exit from USDT Abracadabra enables leveraged yield farming on Stargate Check the latest prices on Crypto.com/Price Top Token Metrics     *Top DeFi tokens based on CoinGeckoSource: CoinGecko DeFi Index Tokens     Notable Events Anchor contributors consider cutting UST yield to 4% from 19.5% Lido Increases Liquidity Incentives as stETH Trades at Discount to ETH DEX Metrics     * % change is based on the difference between two consecutive weekly periods** Omitted due to incomplete source dataSource: CoinGecko, DeFi Llama, Nomics Notable Events PancakeSwap governance proposal set to cap CAKE supply at 750M Tags CRYPTO CRYPTO RESEARCH CRYPTO.COM RESEARCH CRYPTOCURRENCIES DEFI MARKET Source: crypto.com
Analysis Of The Ripple (XRP) Price Movement

Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP

Rebecca Duthie Rebecca Duthie 20.05.2022 13:37
Summary: What is the Ripple Platform and how does it work? Advantages of the Ripple exchange. Ripple’s past, present and future price positions. The Ripple Network Ripple was founded in 2012 and was based on the founder of the ripple ledger, Ryan Fugger. The ledger is a cryptographic ledger powered by a peer-to-peer network of nodes. The purpose of Ripple is to service the needs of the financial services industry. The XRP token consistently ranks in the top 10 cryptocurrencies in terms of market capitalization. Peer-to-peer networks refers to the direct exchange of an asset between individuals, the transaction does not involve a central authority. XRP is the native cryptocurrency of Ripple Labs Inc, a cryptocurrency payment system. XRP is Ripples digital asset used for global payments, the cryptocurrency allows the transferring of payments at very low cost which aims to attract the attention of banks and retailers. Ripples superpower is the combination of extremely low costs and completing the transaction in under 5 seconds. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM What makes Ripple Unique? Ripple is a cryptocurrency platform that has been sharpened for over a decade. Ripple is known to be a cryptocurrency built for business use. Ripples enterprise-grade solutions are quicker, more cost-effective and more transparent than the more traditional form of financial assets. The Ripple users use these solutions to facilitate instant payments, find and buy crypto, engage audiences, grow their treasury, drive new revenue and lower capital requirements. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Ripple offers innovation for businesses, governments, financial institutions and more. The Ripple platforms allow for cross border payments to enhance payments with real-time settlement, liquidity management and better access to working capital. Ripple also creates crypto liquidity through the use of an all-in-one platform to hold, trade and buy digital assets, delivering the crypto services users’ customers want. CBDCs implement a scalable, secure, and sustainable central bank digital currency that meets the high security standards of a normal central bank. How does XRP work? Unique mining process: Ripple doesn’t mine, the XRP ledger was pre-mined. 100 billion XRP tokens were created and are released publicly periodically. This has raised concerns that if too many coins are released at once, diluting the value of XRP, this is because part of what gives XRP its value is its scarcity. Ripple owns a portion of XRP, this acts as an incentive to help the crypto grow and be successful over time. The maximum supply of XRP is 100 billion, the current circulating supply 48.34 billion tokens. The current market cap of XRP is around $20.742 billion. XRPs Ripple network somewhat centralizes the network and uses a consensus protocol. Anyone can download and use its validation software, it maintains a unique node list, users can select this list and use it to find participants who they believe are least likely to defraud them. Advantages of Holding XRP: Fast settlement: the confirmation of transactions is very fast, the average time is around 4-5 seconds per transaction. Very low fees: the cost to complete a transaction through the ripple platform is the equivalent of 0.00001 XRP. Versatile exchange network: Ripple platform users are not limited to transactions of only ripple, they can also process fiat currencies and other cryptocurrencies Used by large financial institutions: large enterprises have the opportunity to use Ripple as a transactions platform. Santander and Bank of America are 2 large financial institutions currently using the ripple platform, this is an indication that Ripple network has larger institutional adoption in the market than most cryptocurrencies. Past, present and future prices of Ripple In 2018, the price of Ripple XRP skyrocketed. After the sharp increase in price the value of the token fell drastically. Since then the price of the token has not seen any drastic movements. The price did start to increase again in early 2021 but has since seen some volatility and has not managed to find a particular trend. In the present economic conditions, the global markets, including the crypto market ,have seen a lot of volatility. It has become increasingly clear to market participants that inflation and wider market conditions affect the crypto market too. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM In the future some analysts predict that the price of XRP could reach more than $10 by 2030. However, the crypto markets are volatile and so it is difficult to make accurate predictions. XRP Crypto Price Chart How to buy XRP Users need to find an alternative cryptocurrency exchange to the popular ones, such as Coinbase, Gemini or eToro. Uphold could be an option or purchase outside the U.S or take chances on a decentralised exchange. Follow FXMAG.COM on Google News Sources: coinmarketcap.com, ripple.com, time.com, challengelly.com, forbes.com
Gate.io to Unveil New Brand Identity During 9th Birthday Celebrations in Late May 2022 | What Is Gate.io?

Gate.io to Unveil New Brand Identity During 9th Birthday Celebrations in Late May 2022 | What Is Gate.io?

Finance Press Release Finance Press Release 18.05.2022 14:33
With the rebranding, Gate.io will also launch its newly redesigned mobile app and mini app with new features, as well as contests offering a total of US$9,000,000 in prizes May 18, 2022 – Gate.io, one of the world’s earliest cryptocurrency exchanges and a leader among digital asset platforms, announced today that the company will unveil a new brand identity, which will be reflected across its platforms during Gate.io’s upcoming 9th birthday celebrations, commencing on May 27th, 2022. In tandem with the complete design overhaul of Gate.io’s logo and branding, the company will launch the Gate.io Lite App and mini app for mobile phones. To celebrate its 9th birthday and rebranding, Gate.io will also roll out multiple contests for its users, with a total of US$9,000,000 in prizes to be awarded. Dr. Han, CEO and founder of Gate.io, shared: “The rapid growth of cryptocurrencies has accelerated the development of mainstream crypto exchanges in terms of products, services, brand values, and more. With our brand DNA of innovation and breakthroughs in mind, Gate.io was in need of a refresh and an invigorating change. We look forward to working with customers from all over the globe and building a sparkling new Gate.io brand identity.” A Brand New Look for Gate.io Gate.io will reveal a revamped brand identity for its logo, slogan, and color scheme, reflecting the culmination of nine years of digital asset innovation since the company was founded in 2013 and signaling that Gate.io has matured to offer a more inclusive, integrated, and unique experience with a wealth of digital asset services for its over 10 million users. The rebranding also marks the beginning of a new chapter for Gate.io in the rapidly evolving and growing crypto economy, which frequently sees the platform reach the second largest daily trading volume in the world. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Easier Than Ever to Trade on Gate.io’s Apps Alongside its new brand identity, Gate.io will launch a notable update to its mobile app that will allow users to opt for a “Lite App” version within its flagship app, offering streamlined and simplified in-app transactions for crypto trading of more than 1,400 coins, tokens, and other digital assets. The Lite App’s cleaner, more user-friendly interface makes it even easier for new and existing users to invest and trade quickly and efficiently as they can access a suite of features for different crypto assets on the go. Celebrate with Gate.io To kick off Gate.io’s 9th birthday festivities, users can take part in a series of exciting contests and promotions, with a total of US$9,000,000 in prizes to be awarded. To start, the Gold Bar campaign on Twitter, gives participating Gate.io users the chance to win a prize pool worth US$50,000 in tokens, and one lucky winner will win a 999 gram 999.9 gold bar. Gate.io will also be hosting NFT and trading contests for its users as part of the celebrations. About Gate.io Established in 2013, Gate.io is one of the world’s earliest cryptocurrency exchanges and a leader among digital asset platforms. Gate.io offers services related to the trading of multiple leading digital assets, and it has grown to serve over 10 million users around the world. It has been consistently ranked as one of the top 10 cryptocurrency exchanges based on liquidity and trading volume on CoinGecko, and has been verified by the Blockchain Transparency Institute (BTI). Gate.io has also received a rating of 4.5 by Forbes Advisor, making it one of the Best Crypto Exchanges for 2021. Besides the main exchange, Gate.io also offers other services such as decentralized finance, research and analytics, venture capital investing, wallet services, labs and more. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Disclaimer: Please note that Gate.io may not provide its full scale of services in certain markets and jurisdictions, and Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For details of restricted locations, please read the Terms of Service “Section II Eligibility” .
Binance Academy: Behavioral biases and avoiding them

Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA)

Rebecca Duthie Rebecca Duthie 23.05.2022 13:24
Summary: What is the Cardano Platform and how does it work? Advantages of the Cardano exchange. Cardano's past, present and future price positions. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP  Cardano’s platform Cardano’s mission is to be a blockchain for innovators, visionaries and changemakers, it has the tools and technologies required to create possibilities to bring about positive global change for the many, as well as the few. The Cardano platform was founded in 2015 and launched in 2017. The platform token “ADA” has a maximum supply of 45 billion ADA, a circulating supply of more than 33.7 billion and a market capitalisation of more than $18.25 billion. The cardano platform is a proof-of-stake blockchain, it was the first to be founded on peer-review research and was developed through evidence-based methods. The blockchain combines pioneering technologies to provide unparalleled sustainability and security to decentralised systems, applications and technologies. Proof-of-stake refers to a type of consensus mechanism used to validate cryptocurrency transactions. Cardano’s aim for their platform Cardano’s aim is to be an enabling force for positive change and progress, in order to achieve this they have a leading team of engineers. The platform exists to redistribute power from the unaccountable to the margins and the individuals. Cardano's platform integrations and protocol implementations are first researched, mathematically modelled, tested and challenged before they are specified. The Cardano platform is designed to reward those who act in the best of the network and are also acting in their own best interests. The scalability and sustainability combination allows Cardano to achieve the throughput required to meet the ever changing demand of the global systems: logistics, societal, financial and identity. Some of the uses of the Cardano platform and ADA token: Send, create and receive NFTs and native tokens. Set up and manage your own staking pool on Cardano. Users are able to create their own smart contracts. Users can integrate their Cardano technology into their existing websites and platforms. ADA tokens can be used to vote on governance proposals, those that distribute treasury funds in particular. ADA tokens can be staked to earn rewards. Ouroboros and Cardano Cardano is the first blockchain to implement the Ouroboros protocol. Ouroboros is the first peer-reviewed, verifiably secure blockchain protocol, which enables Cardano’s decentralisation and allows it to scale global requirements sustainably without compromising security crucially. Advantages of investing in Cardano The Ouroboros blockchain protocol. Evidence-based development: the evidence-based methods used to create the Cardano blockchain is a combination of methods, which are normally found in critical high-stake applications, along with an agile approach, which helps the project remain responsive and adaptable to new innovations and emerging requirements. Security: when using the cardano platform, it is possible for users who have never met or transacted before to interact and transact with a high level of security. The Cardano platform builds trust where there otherwise may not be any, which opens up doors to many more markets and opportunities. Incentivised participation: Cardano is an open-source project developed through open participation. Cardano has an incentive mechanism to ensure network health and longevity, the mechanism rewards users for their participation, either through stake delegators or as stake pool operators. The governance system gives all users a voice, ADA holders can submit or vote proposals on proposals to improve the platform. Scalable and sustainable: Ouroboros allows the Cardano platform to scale global requirements with minimal energy requirements. Cardano's performance-energy is achieved through a combination of novel approaches namely, side chains, multi-ledger and parallel transaction processing through multi-party state channels. Follow FXMAG.COM on Google News Past, present and future prices of Cardano After the launch of ADA, the original price spiked and then fell back down the pre-launch levels. It took Cardano’s ADA a couple of years to truly see any real price change. In 2021 Cardano reached a maximum price of more than $2.77, but has since been on a declining streak. Currently the cryptocurrency markets have been declining, the current economic conditions are sending investors searching for safe-haven assets, a category that cryptocurrencies do not fall under, this is causing a sell-off investor sentiment. Some analysts believe that the price of ADA will fluctuate but will see an increase, and thereafter consistently increase until 2030 wherein the value is expected to reach around $13.55. However, predicting the future value of cryptocurrencies is difficult due to the volatility of the markets they operate in. ADA Price Chart Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform  Sources: finance.yahoo.com, cardano.org, coinbase.com, changelly.com  
Bitcoin Price (BTC/USD) Is In Tight Consolidation! Which Direction Will It Strike? | Geco.one

Bitcoin Price (BTC/USD) Is In Tight Consolidation! Which Direction Will It Strike? | Geco.one

Geco One Geco One 23.05.2022 14:45
Bitcoin fell between 5-12 May 2022 by over $13,000, i.e. over 33%. It increased the range of the ongoing from 28 March 2022 depreciation to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Bitcoin Price (BTC/USD) Such a significant sale caused the exchange of the oldest virtual currencies to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. It was no different now. This time, however, the rebound turned out to be extremely modest, and as a result, Bitcoin found itself in a horizontal trend. Considering that the consolidations are corrective formations, statistically, more often, the market will push out of this type of system in the direction consistent with the earlier move. This particular case increases the risk of a potential bottom breakout, which could signal a potential for further declines to the $24,000 region or even below $20,000. This scenario may also be supported by the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci correction from an earlier downward impulse. Ethereum Price (ETH/USD)  The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. However, taking into account that the demand response that appeared around this support was much more modest than the rebound observed in this area already in May, June and July 2021, one can assume that in the end, it will turn out to be only a correction, after which the ETH rate will return to around $1,750. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM A permanent drop below this price level could open the door for further declines to $1,400. There is another significant support around which we could expect a greater demand response. It is worth mentioning here, however, that although the consolidations are corrective formations, there is no rule determining when the market should break out of the system. This fact means that, although the statistics favour further declines before they happen, the ETH exchange rate may remain in the range of $1,900 to $2,150 for some time. (XRP) Ripple Price Looking at the XRP quotes, we can see that the price of this cryptocurrency fell between 28 March and 12 May this year by over 63%. This sell-off led to the breach of several important support zones and did not stop until around $0.36, where on 12 May this year, there was a demand response. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM However, the subsequent rebound did not last too long. As a result, the XRP price has remained in the horizontal trend for several years. It assumes a return to the vicinity of $0.36 seems more likely. If, however, this support was permanently defeated, then the quotations of this cryptocurrency could even move towards $0.20. Binance Coin (BNB) The current situation on Binance Coin's quotes is also very interesting. The price of this cryptocurrency fell between 7 November 2021 and 12 May 2022 by over 67%. This sale only stopped around $260 technical support - on Thursday, 12 May this year, there was a demand response. Due to the rebound that has continued since then, the BNB price has risen by more than 51%, thus returning to the area of ​​previously defeated support (now resistance) of $330. If a larger supply relationship is around this level, signalling its potential rejection, the BNB price could return to around $260 or even drop further to the $200 region. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one Follow FXMAG.COM on Google News
LFG Has Not Created Any New Wallets| Do Kwon  On The Interpol Wanted List

Altcoins: Another Terra's LUNA price failed recovery attempt causes uproar in the crypto community

FXStreet News FXStreet News 23.05.2022 16:44
Terra’s LUNA price fails to recover despite Proposal 1299 to rescue over 154.7 million UST stuck in Osmosis and side chains. Anonymous Terra community members have come forward as whistleblowers, revealing facts on the deal with Jump Crypto. Do Kwon told the Terra community that sending LUNA to the burn address is "a loss" and "not a good idea." Several whistleblowers have contacted Terra community member “FatMan” and revealed details of Terraform Labs co-founder Do Kwon’s monthly payments to quantitative trading firm Jump Crypto and their role in the crash of UST. Proposal 1299 has failed to fuel a recovery in Terra’s LUNA price. Terra’s LUNA price stuck while whistleblowers call out Do Kwon Algorithmic stablecoin TerraUSD (UST) witnessed a colossal crash more than a week ago, losing its $1 peg, with Terraform Labs’ tokens LUNA and UST lost a combined market value of $39.1 billion within a week. This event has been marked as the “first crypto bank run” in history and had a catastrophic impact on Terra’s LUNA price, which crashed from almost $100 to the current levels below $0.0002 in the span of a couple weeks. Also read: LUNA price has turned into a crypto zombie with no revival to come Terra Research forum user “FatMan” has come forward with insights into Terra’s co-founder Do Kwon and the deal with Jump Crypto. @FatManTerra has published his findings in a recent Twitter thread. According to the findings, Do Kwon pays a fixed monthly installment of LUNA to repay his debt to Jump Crypto. @FatManTerra is yet to publish further details of these transactions. This Agora Terra forum user states that Jump Crypto manipulated retail investors into losing billions on LUNA and UST. The community member is yet to furbish evidence of transactions that connect Jump Crypto to the UST crash. Terraform Labs proposal 1299 fails to rescue 154.7 million UST In order to rescue the UST stuck on side chains, proposal 1299 was put forward by Terraform Labs. During the colossal crash, Terra validators disconnected Inter Blockchain Communication (IBC) as a stop gap solution. The proposal was passed, however, today it failed to execute due to technical issues. Among all side chains, Osmosis alone accounts for 154.7 million in LUNA and UST. The Terraform Labs tokens stuck on side chains are not covered in the “Revival Plan” that compensates holders for their losses in the coordinated attack. As a result of this failure, UST and LUNA tokens stuck on side chains will be excluded from the launch snapshot, thereby resulting in losses for community members. The rescue proposal 1299’s execution is key to a potential Terra’s LUNA price successful recovery. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM LUNA sent to burn addresses "is lost, not a good idea" Do Kwon has been criticized by the Terra community for his plan to leave the algorithmic stablecoin UST out of the final recovery strategy for the Terra ecosystem. Community members have reached out to Kwon on Twitter and informed them that they can aid Terra’s recovery by burning LUNA. Do Kwon answered by telling the Terra community and his 1 million followers on Twitter that LUNA sent to burn addresses is lost and it is not a good idea to burn these tokens. Terra Ecosystem Plan 2, Kwon’s proposal for the rebirth of Terra, has been criticized by the community. Over 52.6 million voters have abstained from voting on Proposal 1623, and 35.2 million have voted “No with Veto.” This puts the count of negative votes at 87.8 million, which accounts for over 33% of the community not having confidence in the plan for the recovery of Terra’s LUNA price. Crypto market trying to bounce back While the prospects for a Terra LUNA price recovery still look grim, the cryptocurrency market is trying to regain its footing, with several coins showing technical bullish setups. Check the following video to see how to trade them. Follow FXMAG.COM on Google News
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Market Pulse – Weekly Market Insights Newsletter (23/05/2022) | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 23.05.2022 13:44
Tightening financial conditions pose headwinds for risk asset BTC. Elevated options skew shows buying put-protection is currently expensive. A bearish cross has appeared for ETH. Chart of the Week: Mind the BTC and Financial Conditions Gap BTC is first and foremost another risk asset currently, so look for its returns to be driven in large part by macro risk factors. Financial conditions have been tightening YTD on the back of rising energy prices, market corrections, and geopolitical risks.  A gap has been forming between BTC and tightening U.S. financial conditions – does BTC have some more catching “down” to do? The Chicago Fed National Financial Conditions Index (NFCI) shows positive and negative values (from 1 to -1) for tighter and looser financial conditions, respectively. It tracks U.S. financial conditions in money markets, debt and equity markets, and the traditional and “shadow” banking systems. Indicators are grouped into risk (captures volatility and funding risk), credit (measures credit conditions for households and companies), and leverage (measures leverage of households and businesses). Fund Flow Tracker Aggregated exchange balances of BTC and ETH have dipped, after the sharp rebound during peak fear surrounding the recent Terra stablecoin collapse.    In the past week, aggregated exchanges saw net outflows of 19.8K and 234.0K for BTC and ETH respectively. BTC balance held on OTC desks dipped as well, following a sharp spike upwards during the week of the stablecoin drama. However, the uptrend from the lows established in March 2022 remains intact. Derivatives Pulse Options implied volatilities (vol) for BTC have quietened down considerably after going parabolic 2 weeks ago. 1-week implied vol currently stands at 73.9%, compared to 83.0% a week ago. ETH implied vols have come down significantly as well, with 1-week implied vol currently at 82.0% compared to 96.5% last week. The options put-call ratio for BTC continues to climb, while ETH’s has dropped from its YTD peak in April. BTC’s put-call ratio has only started playing catch up in the last 2 weeks, signaling increased exposure hedging – however, since most people buy protection late, this is occurring when BTC has already fallen 36.2% YTD and 55.2% from its peak in November 2021. Premiums typically are high when insurance is needed most – buying BTC and ETH put protection is indeed currently expensive, as seen in the elevated options skew. BTC and ETH perpetual futures funding rates are mostly positive overall, despite a few flashes of red during the past week, potentially signalling tilt towards long positioning. Technically Speaking A bearish cross has appeared for ETH, with the 50-day moving average crossing the 100-day moving average on the downside. The other occurrence this year was back in January, after which ETH declined 40.5% before consolidating into a base. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Price Movements         News Highlights USDT issuer Tether published a reserves report in a bid to boost transparency across backed assets. In the report, Tether reduced exposure to riskier assets and increased holdings in safe haven assets. This follows in the footsteps of stablecoin USDC issuer Circle’s reserves statement. Financial messaging network, Society for Worldwide Interbank Financial Telecommunication (SWIFT), is conducting tests for interoperable CBDCs across multiple domestic CBDC networks. The company previously conducted its first set of cross-border transactions in 2021. China has re-surfaced as the world’s second largest Bitcoin miner, despite the government’s ban in June 2021, according to a report from the Cambridge Centre for Alternative Finance. Read next: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA) | FXMAG.COM Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing on this report are registered trademarks of their respective owners. Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET MARKET INSIGHTS MARKET PULSE Source: crypto.com Follow FXMAG.COM on Google News
Bitcoin Began To Move Up Today, Does That Signifies A Shift In Trend?

"Many Crypto-Sphere Projects Are About To Fall"! | Bitcoin’s tedious walk around $30K | FxPro

Alex Kuptsikevich Alex Kuptsikevich 24.05.2022 10:20
Bitcoin continues its tedious walk around $30K in a narrow range of $28.6-30.6K. Ethereum lost 0.4%, while other leading altcoins in the top 10 fell between 1% (XRP) and 2% (Solana). The exception was Binance Coin (+2.9%). Bitcoin reversed from the upper end of its range for the past two weeks The total capitalisation of the crypto market, according to CoinGecko, fell 0.8% overnight to $1.33 trillion. The Bitcoin Dominance Index fell 0.5% to 42.1%. The cryptocurrency Fear and Greed Index was up 2 points to 12 by Tuesday and remains in “extreme fear”.The dynamics of the first cryptocurrency in recent days seem to have become determined by the balance of power between bulls and bears, but not the stock market dynamics. The latter showed gains on Monday, while bitcoin reversed from the upper end of its range for the past two weeks.CoinShares data for last week showed a record weekly outflow of institutional investors from crypto funds since the start of the year. Funds are operating cautiously, and their actions may be holding back growth while buying on the dips comes from retail and crypto-kits. Thus, the market is distilled from sporadic participants who want to “ride the wave” but are not crypto enthusiasts by nature. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM According to Gary Gensler, head of the SEC, many crypto-sphere projects are about to fall Without the hype inherent in the golden days’ for crypto, the flow of money into the industry is drying up, a cruel test of strength. Over the past two weeks, investors have withdrawn more than $10bn (13%) from Tether’s USDT stable coin. According to Gary Gensler, head of the SEC, many crypto-sphere projects are about to fall. But that is not stopping lobbyists from promoting cryptocurrencies as a long-term investment vehicle. A bill has been introduced in the US House of Representatives that could lift restrictions on crypto investments by pension funds. Follow FXMAG.COM on Google News
UK Labor Market Shows Signs of Loosening as Unemployment Rises: ONS Report

Crypto Crash: Bitcoin Price (BTC/USD) Is Near $30K, US Stocks Could Be Better | Oanda

Craig Erlam Craig Erlam 24.05.2022 14:29
Stock markets are back in the red on Tuesday, with US futures also pointing to a negative start on Wall Street in a couple of hours. These wild swings from one day to the next have become the norm as investors try to pick the bottom in the markets only to be dealt another blow from one negative headline or another. And they continue to come thick and fast, leaving equity markets vulnerable to further drops. Snap Stock Pessimistic Chinese growth forecasts and a profit and revenue warning from Snap appear to have been behind the latest tumble, although there are so many headlines pouring out, you could probably pick another half a dozen reasons to explain the selling. Ultimately it comes down to the fact that the level of economic uncertainty is immense and while recessions are not the base case, they are a very realistic prospect. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM Not least in the UK, where PMIs slipped back to levels not seen since lockdown. Except that the economy is fully open and operating without any restrictions at all, which is deeply concerning. The cost-of-living crisis is already having an impact and is expected to hit the economy hard, with the BoE anticipating double-digit inflation and a possible recession. The PMI data appears to be backing that up, with the services survey falling heavily from 58.9 last month to 51.8 this. That’s barely in growth territory and a hugely negative shift. The squeeze on household budgets is going to intensify later in the year which creates a feeling of inevitability about a recession. Perhaps that’s why we’re starting to see attitudes shift within government although as yet, we haven’t seen any new measures announced. Bitcoin consolidation continues There hasn’t been much change over the last week or so on the bitcoin front. It continues to bounce around USD 30,000 with moves below not gaining much traction to the downside and those above the same. It continues to look vulnerable below as there simply isn’t much of a bullish case for it in a monetary tightening and risk-averse environment. If we start to see markets pricing in fewer hikes then it may change but that looks a little hopeful at this point. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Follow FXMAG.COM on Google News
Altcoins: Stellar (XLM) What Is It? A Deeper Look Into The Stellar Platform

Altcoins: Stellar (XLM) What Is It? A Deeper Look Into The Stellar Platform

Rebecca Duthie Rebecca Duthie 24.05.2022 16:11
Summary: What is the Stellar Platform and how does it work? Advantages of the Stellar exchange. Stellar's past, present and future price positions. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Stellar Platform The Stellar network is an open-source platform for currencies and payments. Stellar has no owner, it is said to be owned by the public. Stellar relies on the blockchain to keep the network in sync, but the end user experience is more similar to cash, the platform is much faster, cheaper and more energy efficient than most other typical platforms on the blockchain. Stellar was launched in 2014, the platform was intended to enhance the current financial system, rather than undermine or replace the one already in place. The co-founder of RippleNet, Jed McCaleb, founded the Stellar network, as a non-profit organisation, which was first named the Stellar Development Foundation. The Stellar platform is a peer-to-peer (P2P) decentralised network that is borderless, powerful and limitless. Stellars platform makes it possible to send, trade and create digital representations of all forms of money, such as dollars, pesos, bitcoin and more. The platform is designed to allow all the world's financial systems to work together on one single network. The Stellar network is designed for developers, the network has all the necessary tools needed to get a project up fast. Stellar's API and SDKs are available to help you transform the financial world. The network's currency connections could give even a small company the reach and power of an international bank. Stellars native digital currency Stellars native digital currency is the Lumen (XLM), users are required to acquire this currency in small amounts to use in making transactions and initialising accounts. Other than this fact, Stellar does not privilege any currency in particular. There are 24.85 billion XLM currently in circulation, a market capitalization of $3.325 billion and a maximum supply of 50 billion lumens. The Stellar platform maintains a high level of security, the XLM holders have to own at least one token in order to remain active on the platform. Lumens also offer protection against hackers by making microtransactions too expensive for hackers with no chance of profits, therefore Stellar is kept safe from serious threats. Stellars platform can be used in the following way With a few lines of code, users can create the following: Global Payment Apps: allow users to leverage the many currency-backed tokens that are already available on the Stellar network. Asset exchanges: users have access to Stellar’s built-in decentralised exchange for forex, cryptocurrencies or securities. Users can swap between tokens by using simple functions that are built into the protocol. Micropayment services: Stellar’s low, flat fees and fast transactions make it possible to make powerpayments of any size. Advantages of the Stellar Platform Fast transaction speed: it is possible for around 2000 transactions to be processed each second, therefore, a maximum of 5 seconds is required to validate a transaction. The fast transaction speed of the platform makes Stellar an attractive tool when there is a need to make fast and secure transactions. Multi-currency support: it is possible to carry-out multi-currency transactions on the Stellar platform, to support this system Stellar makes use of an anchor system. The anchor system works by accepting any money as a deposit and a loan is issued in the desired currency. The system independently selects a profitable course. Extremely low transaction fees: unlike some other cryptocurrencies on the market, the Stellar payment platform is not designed to prioritise profits. It is possible to reduce the overall transaction fees thanks to the transaction speed and operating efficiency. Simplicity: the simplification of currency exchanges and the ease of use are benefits of the Stellar platform. Stellar is a decentralised and independent system. Past, present and future prices In the past, Stellar has experienced many growth jumps, such as when Mercado Bitcoin announced his use of the platform. In general, it is clear that Stellar has shown price promise, however, like with most other cryptocurrencies, the XLM token does carry risk. The XLM hit a slow patch between 2019-2021. Since then the price of XLM has shown volatility. Currently the cryptocurrency markets have been declining, the current economic conditions are sending investors searching for safe-haven assets, a category that cryptocurrencies do not fall under. Some analysts believe that an investment in XLM can bring future passive incomes for investors. It is also believed that the price of XLM may see some strengthening going forward and join some of the other larger cryptocurrencies. It is expected that by 2026 the price could reach up to $0.34 per XLM. XLM Price Chart Read next: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA) | FXMAG.COM Sources: finance.yahoo.com, crypto-academy.org, stellar.org, coinmarketcap.org, gobankingrates.com, cryptonewsz.com
Bitcoin Is Showing The Potential For The Further Downside Rotation

Declining Bitcoin Price (BTC/USD)!? Ether Price (ETH/USD) Has Increased, AVAX Gone Down. Be ready for (BTC) Bitcoin to end consolidation with a drop | FxPro

Alex Kuptsikevich Alex Kuptsikevich 25.05.2022 09:00
Bitcoin’s fluctuations continue to shrink, meaning the spring is being compressed further. The lower bound of the trading range has moved to $29K, from where the BTCUSD has received support since the start of active trading in New York. The upper bound of the formed triangle has moved to $30.5K against current prices at $30.0K, reflecting a 1.8% gain over the past 24 hours. Ethereum has added 0.3% in the past 24 hours, with other altcoins in the top 10 from a 2.9% decline (Avalanche) to a 1.0% rise (BNB), but all faring worse than the crypto flagship. Total coin capitalisation, according to CoinMarketCap, rose 1.1% to $1.28 trillion, with the Bitcoin Dominance Index up 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was down 1 point to 11 by Wednesday and remains in “extreme fear”. The bitcoin price is in consolidation mode, equally dangerous for both bulls and bears. Both gain liquidity over time and get used to the current prices. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM On the market cycle side, the chances are higher than the current consolidation will culminate in a breakdown of the lower boundary and liquidation of stop orders, reinforcing the initial downside momentum. Behind the pessimistic outlook is a tightening of monetary policy with slowing economic growth, which puts retail investors in the mode of withdrawing capital from cryptocurrency in favour of consumption. It does not help that the expectations of getting rich fast through cryptocurrencies are not paying off, as bitcoin is worth as much now as it was in early 2021. The ECB warned that the high correlation between cryptocurrency and stock markets... Investing in the industry is becoming more professional, moving beyond naïve attempts to buy and hold. According to CoinShares, investors are withdrawing money from bitcoin and investing in blockchains that support smart contracts, such as Cardano and Polkadot. Net capital outflows from crypto funds last week amounted to $141m. The ECB warned that the high correlation between cryptocurrency and stock markets is usually seen in times of dire economic conditions and will no longer allow the diversification of investment portfolios with digital assets. Follow FXMAG.COM on Google News
Binance Academy: NFT - Virtual Land - What Is It?

Binance Academy: NFT - Virtual Land - What Is It?

Binance Academy Binance Academy 25.05.2022 10:53
TL;DR NFT virtual land is an ownable area of digital land on a metaverse platform. Popular NFT land projects include Decentraland, The Sandbox, and Axie Infinity. NFTs are suited to representing land ownership as each one is unique and easily proves digital ownership. You can use NFT land for advertising, socializing, gaming, and work, among other use cases. The landowner can normally use their plot to host online experiences, display content, or gain benefits in a game. Large brands and celebrities, including Adidas and Snoop Dogg, are also beginning to invest in and use NFT land. The value of a plot is affected by its utility, project, and market speculation. You can purchase NFT land from a project in a land sale or on the secondary market via an NFT exchange, such as the Binance NFT Marketplace or OpenSea. Before purchasing, make sure you understand the risks and use cases of the land and its associated project. In some cases, it might be better to rent instead of buying an NFT land. Introduction The metaverse's development has rapidly created interesting new blockchain use cases. As 2020 was such a massive year for the metaverse and Non-Fungible Tokens (NFTs), it's no wonder that virtual land has become a hot topic. Some NFT sales of land have reached prices greater than properties in the physical world, making the concept difficult to grasp for some. In fact, there are actually a lot of similarities between NFT land and typical real estate. But as a digital asset on the blockchain, NFT land has some unique features to explore. What is the metaverse? The metaverse is an online, virtual world that will combine multiple aspects of our digital and real lives, including work, socializing, and recreation. 2021 saw many tech giants, including Meta (previously Facebook), Microsoft, and Epic Games, begin developing and exploring the space. Blockchain technology plays a crucial role in the metaverse as digital ownership, identity, and economies are central concepts. For a deeper explanation, read our introduction article to the metaverse. What is NFT virtual land? As mentioned, metaverse projects are digital worlds that users can usually explore with 3D avatars. SecondLive, for example, provides areas and venues for concerts, conferences, and expositions. While projects like SecondLive don't let users purchase a permanent virtual reality space, other metaverse worlds do. Developers create large maps of land divided into small parcels to sell on the market. To represent the unique ownership of the area, users purchase NFTs linked to a particular plot of land. You can purchase these plots through a land sale directly from the project or on the secondary market. Exactly what you can do with NFT land depends on each project. Read next: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA) | FXMAG.COM What are the use cases of metaverse land? Apart from speculation, landowners can use their virtual space in various use cases: 1. Advertising - If your plot is in a popular area or district and attracts many visitors, you can charge for advertising space.  2. Socializing -You can host events on your digital land, including concerts, conferences, and community meetups. 3. Gaming - Your NFT land might have a use in an NFT video game. For example, land in Axie Infinity can provide extra resources, tokens, crafting ingredients. 4. Work - Land that can be explored with a 3D avatar can be used as a virtual office space or to provide digital services. PwC Hong Kong will use The Sandbox land in their Web 3.0 advisory services. Are global companies purchasing metaverse land? Prominent celebrities and brands have already begun to purchase land in the metaverse. For example, Snoop Dogg is creating his own Snoop Dogg Metaverse Experience on The Sandbox. Adidas has also purchased space on the platform for their own AdiVerse metaverse experience. Apart from joining in the metaverse and NFT hype, brands and companies will offer users the chance to interact with them by accessing metaverse services, games, and products.     NFT land has even made the jump from retail investors to institutional investors. For example, The Metaverse Group has made headlines purchasing large amounts of digital real estate, which we'll dive into later. The group is even virtually headquartered in Decentraland's Crypto Valley. The consultancy firm PwC also bought plots in Decentraland in December 2021 as part of their web 3.0 advisory services. What affects the price of NFT virtual land? The price of a plot of virtual land is determined similarly to other non-fungible tokens or cryptocurrencies. There are three main factors to examine: 1. Utility - Virtual land differs from many other NFTs as it usually has a variety of use cases. These will differ depending on the platform they're on. For example, digital worlds like Decentraland allow users to customize and create on their land. If your land is in a popular area or receives many visitors, you could charge for advertising. Your land might also provide you benefits in a blockchain video game. You could have improved staking bonuses or experience unique in-game events like in Axie Infinity. 2. The platform - Popular platforms like Decentraland, The Sandbox, or the upcoming My Neighbour Alice tend to have higher prices for their NFT land. This is due to market supply and demand. The user base and interest of these platforms are much higher than smaller projects. 3. Speculation - Large sales of NFT lands in the past have led to an increasing amount of speculation. For example, the NFT real estate company Metaverse Group spent roughly $2.43 million in November 2021 purchasing a parcel of 116 plots of land in Decentraland. Each plot is 16 meters squared, giving them a total area of 1,856 meters squared of land in the Fashion Street district. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Where to buy land in the metaverse There are two main methods for purchasing Metaverse NFT land. You can take part in a land sale and purchase it directly from the project, or you can buy land from other users through a marketplace. An NFT land sale is a good way of buying your land at a lower price than on the secondary market. Most large metaverse projects with NFT land have seen rising prices, meaning buying land in a sale tends to be better. Some projects sell all their plots in one go, while others sell them in rounds.  An NFT exchange is the safest and most reliable way to purchase land on the secondary market. This way, both the buyer and seller are protected by a smart contract that ensures the trades occur smoothly for both parties. Binance NFT Marketplace and OpeaSea are two of the most popular options to use. Binance NFT Marketplace supports Ethereum and Binance Smart Chain, while OpeanSea supports Ethereum, Polygon, and Klaytn.   Tips before buying your first metaverse land Buying NFT land in the metaverse should be treated like any other investment or financial transaction. Make sure to do your own research and consider the points below: 1. Buy your NFT land from a reputable source. If you purchase the land through a project's sale, make sure you have the correct official link. If you buy land from someone else, never make any transfers directly to their wallet. You should always make the sale through a trusted, reputable marketplace or crypto exchange. Binance NFT Marketplace and OpenSea are two possible choices, as previously mentioned. 2. Decide if you want to buy or rent your NFT land. Depending on your needs, you might not need to purchase a piece of land. For example, you might want to host a single event in a popular district. If the platform you're using supports rentals, then the price you pay depends on the plot's traffic, closeness to other important plots, and its size. 3. Consider the NFT land's project carefully. The project you choose will determine the utility and partly the cost of the NFT. If you want to speculate and resell your land, look at the project's fundamentals, such as popularity, number of users, and team. If you're going to sell advertising space or take part in another use case, research which metaverse platforms are most suited to your needs. Not all NFT projects will succeed, so make sure to consider the financial risk before buying NFT lands. If you buy land that has no use or demand, you might end up holding it forever. Closing thoughts To many, the idea of virtual land sales might seem far-fetched. However, you only need to look at the rise of NFTs, digital collectibles, and the metaverse to understand how NFT land has developed.  The idea isn't much different from owning a website or other virtual space. For example, popular domain names have sold for hundreds of thousands of dollars. However, the way NFT lands guarantee ownership is where we see a difference. With the tech world preparing itself for a metaverse future, we shouldn't be surprised to see even more metaverse NFT land for sale soon.
All You Need to Know About USD Coin (USDC) | KuCoin

What Is USDC? All You Need to Know About USD Coin (USDC) | KuCoin

Kucoin Blog Kucoin Blog 25.05.2022 15:00
Table of contents · What is USD Coin (USDC)? · How does USDC work? · What is the advantage of USDC? · How is USDC different from UST? · Opportunities for the future · Conclusion The crypto ecosystem has evolved rapidly since the launch of Bitcoin (BTC) in 2009. Over the years, the crypto market has quickly expanded, hitting a total market cap of $2.3 trillion during the 2021 bull rally. However, these gains did not last, and the marketplace quickly plunged, losing over $1 trillion of its market cap. With the industry being historically volatile, it is only natural that crypto adopters seek an instrument to protect their crypto holdings against the wild price swings in the space, and then stablecoins become the safe haven. What is USD Coin (USDC)? Launched on September 26, 2018, USDC is a fully collateralized stablecoin pegged to 1:1 to the US dollar. It is an alternative to other USD-backed cryptocurrencies like Tether (USDT) or TrueUSD (TUSD). It was worth mentioning that USDC can be redeemed back to USD at any time. The execution of issuing and redeeming USDC tokens is ensured with a smart contract based on the blockchain. At the moment, there is $53.1 billion worth of USDC in circulation. USDC was created by CENTRE, an organization founded by crypto exchange Coinbase and financial technology (FinTech) firm Circle. To ensure transparency, the Centre Consortium maintains USDC’s peg to the US dollar, and Circle uses a range of assets, including dollars, T-bills, and other highly liquid investments. USDC was issued on the Ethereum blockchain in the early period. With the booming of crypto, it is compatible with several blockchains, including Ethereum, Algorand, Solana, TRON, and other major public chains. Currently, KuCoin has supported deposit USDC with Ethereum, TRON, KCC, Algorand, ARBITRUM, and OPTIMISM networks. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM How does USDC work? A USDC token is created and requires 1 US dollar to be deposited in the issuer's bank account. The issuer uses USDC smart contracts to create an equivalent amount of USDC. The newly minted USDC are sent to the user, while the substituted US dollars are held in reserve. Then, when a customer wishes to redeem USDC back for dollars, the USD Coins are permanently destroyed in order to keep a consistent backing. The entire concept of stablecoins depends on there actually being a 1-to-1 backing. So trust and transparency are most important and essential for the stablecoin protocol like USDC. And USDC cooperated with the top-five accounting firm Grant Thornton to provide a high level of transparency and to maintain full reserves of the equivalent fiat currency. Click here to learn more. What is the advantage of USDC? By converting the cryptocurrencies like BTC, ETH, and other altcoins to USDC, investors can hedge against the risk of volatility in the crypto market. Furthermore, as a digital currency, it brings US dollars to the crypto world, avoiding traditional financial instruments and institutions, bypassing hyperinflation, and completing global transactions almost instantaneously and at low cost. In the crypto world, the USDC can be used to buy a variety of products across different decentralized applications (Dapps), exchanges, and blockchain-based games. Also, it opens up new opportunities for trading, lending, risk-hedging, and more. How is USDC different from UST? At the moment, there are four types of stablecoins. These are stablecoins that are fiat-collateralized, crypto-collateralized, algorithmic uncollateralized, and hybrid. TerraUSD (UST), a stablecoin from TerraForm Labs, is an algorithmic stablecoin that leverages a complex algorithm linked to Terra (LUNA), another crypto token from TerraForm Labs. While USDT has maintained its peg against the US dollar, UST’s algorithmic backing failed after the Terra network lost over $39 billion of its value. At the moment, UST is changing hands at $0.055 after losing nearly 95% of its value since the start of the year. Unlike UST, USDC is fully collateralized, meaning that it is difficult to depeg it. With USDC being fully backed by highly liquid yet stable assets, the stablecoin has stood the test of time. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Opportunities for the future With Centre leveraging a wide range of assets to maintain USDC’s stability, the consortium has helped the stablecoin secure a leading spot as a hedging instrument against volatility in the crypto market. USDC has a current market cap of over $53 billion, which makes it the fourth-largest crypto by market capitalization. Meanwhile, As the second-largest stablecoin after Tether (USDT), USDC has been accepted by as many wallets, exchanges, service providers, and Dapps as possible. With USDC having an impeccable reputation, it stands a chance to surpass USDT to become the ultimate stablecoin. Conclusion By using highly liquid yet stable assets to maintain its peg against the US dollar, USDC positions itself for success. Additionally, USDC’s backing by Circle and Coinbase helps boost the stablecoin’s adoption, seeing as both companies are trusted in the crypto industry. Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Follow FXMAG.COM on Google News
Tether Deploys USDT Stablecoin on Tezos Blockchain | BeInCrypto

Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain

Rebecca Duthie Rebecca Duthie 25.05.2022 23:00
Summary: What is the Tether Platform and how does it work? Advantages of the Tether exchange. Tether's past, present and future price positions. Read next: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA) | FXMAG.COM The Tether USDT Platform Tether is a Hong-Kong based company that issues the USDT is a stablecoin that mirrors the price of the US Dollar. Tether. A stablecoin refers to a stable-value cryptocurrency. The token is pegged to the US Dollar, the peg is achieved via maintaining a sum of fiduciary deposits, cash, commercial papers, treasury notes and reserve repo notes in reserves that have the same US Dollar value as the number of USDT that are in circulation. Tether has a current market capitalization of $73.198 billion, more than 73 billion USDT in circulation and no maximum supply. The aim of the Tether platform is to combine the unrestricted nature of cryptocurrencies (transferring of assets between parties without the need of a financial intermediary) with the stable value of the US Dollar. Tether USDT was originally launched as Realcoin in July 2014 through using Omni platform. Realcoin was built as a second-layer cryptocurrency token built on Bitcoins blockchain, which was then updated later to work on Ethereum, EOS, Tron, Algorand and OMG blockchains. In recent times, stablecoins are sometimes being used as a hedge against inflation, instead of keeping fiat currency in an account earning small interest where users can lend their stablecoins and earn yields between 3-20%. What makes Tether USDT unique? Tether guarantees to its users that their USDT coin value will remain pegged to the US Dollar, this is guaranteed through the promise of updating the reserves with the value of USDT that is issued, ensuring that the 1:1 ratio always exists. Therefore ensuring that USDT is fully backed up by cash and cash equivalents. USDT is protected from the normal price fluctuations that occur daily in the cryptocurrency market, making USDT one of the more reliable cryptocurrencies to hold value. This feature of USDT makes the coin a safe-haven asset for cryptocurrency investors, during periods of high volatility in the cryptomarket, investors can leave their crypto assets in Tether without having to cash out into US Dollars. In addition, USDT provides an easier way to transact a U.S Dollar equivalent between continents, regions, and countries via blockchain, without having to worry about a slow, expensive intermediary like a bank or another financial institution. Security of USDT Tether does not have its own blockchain, instead operates as a second-layer token on top of other cryptocurrencies’ blockchains: Ethereum, Bitcoin, EOS, Tron, Algorand and OMG, the hashing algorithms of these blockchains secures Tether USDT. Advantages of the Tether platform and USDT Price stability: 1 USDT = 1 US Dollar. User transactions are extremely cheap, sending money from one USDT account to another has no chargers with it. There is a small fee attached for other transactions like trading USDT for other cryptocurrencies or fiat currencies. Highly integrable currency, it is easy for users to integrate USDT into other exchange platforms. It is successful in protecting the funds of traders and potential cryptocurrency traders as it allows users to quickly trade more volatile cryptocurrencies like Bitcoin in a more stable cryptocurrency. Past, present and future price of Tether USDT After going to market, the price of the USDT coin originally saw a substantial amount of growth, and then saw a lot of volatility. Since then due to its peg to the US Dollar, the price of Tether USDT has remained relatively stable over the years. The current investor risk off sentiment has not affected Tether USDT the same way it has to some of the other cryptocurrencies, instead Tether has mainly held its position in the market. However, in May, Tether’s price did drop, this reflected the irrationality of the investors in the market during the recent sell off sentiment. Looking a few years ahead, some analysts predict that the price of Tether USDT will rise to above $1 and hold around that position for the large part of the decade. This forecast is based solely on numerical data, due to the volatility of the cryptocurrency market, it is difficult to make an accurate forecast for the price of USDT despite its increased stability. USDT Price Chart Purpose of creating Tether Its users do not have limitations when making transfers, Tether users receive all the benefits of owning cryptocurrencies without the high fees or any major problems. The Tether platform allows exchanges to maintain a high level of liquidity and protection against the volatility of the crypto market. It offers a way to protect investments from traders within an exchange platform. In terms of volatility, the Tether platform offers a secure form of payment. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Sources: academy.bit2me.com, finance.yahoo.com, coinmarketcap.com, capital.com
Crypto: Extreme Fear!? Bitcoin Price (BTC/USD) Is Stable, But Ether’s (ETH) Performance Reflects The Pressure. What About Ripple And Stellar? | FxPro

Crypto: Extreme Fear!? Bitcoin Price (BTC/USD) Is Stable, But Ether’s (ETH) Performance Reflects The Pressure. What About Ripple And Stellar? | FxPro

Alex Kuptsikevich Alex Kuptsikevich 26.05.2022 09:34
Bitcoin ignored the positive dynamics of US stock indices on Wednesday, further reducing the amplitude of its fluctuations. The first cryptocurrency has been moving in a $29.5-30.0K range since the start of active trading in New York. We caution that this reduction in volatility risks turning into an explosion in the near term, potentially setting off momentum for a few days or weeks. BTC Price A formal break of consolidation would be considered a consolidation beyond the previous local extremes, which are located at $30.2K and $29.3K. Going beyond those limits in a sharp move promises to trigger a wave of liquidation of positions that the bulls and bears have brought closer to the current price due to low volatility and bored speculators in recent days. Outside of Bitcoin, the situation is more worrying. The total capitalisation of the crypto market, according to CoinMarketCap, has fallen 1.6% in the last 24 hours to $1.25 trillion. Bitcoin’s dominance index is 0.4 points to 45.1%. Ether Price (ETH/USD) Ethereum lost 3%, dropping to 1915, the lower end of a steady trading range for the past two weeks. The daily candlestick chart clearly shows a sequence of increasingly lower local highs. This dynamic is a sure sign of a sustained sell-off in crypto, temporarily covered by Bitcoin’s stability. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Bitcoin’s stability against such an external backdrop may be nothing more than a temporary consolidation of capital in the most liquid cryptocurrency and is supported by improved sentiment in stocks. Crypto Fear And Greed Index The cryptocurrency Fear and Greed Index was up 1 point to 12 by Thursday and remains in “extreme fear”. Ripple lawyer Stuart Alderoty criticised the stance of US Securities and Exchange Commission Chairman Gary Gensler and the SEC’s desire to seize administrative control of the cryptocurrency market. Stellar will provide its technology to the Central Bank of Brazil to develop the digital currency. Follow FXMAG.COM on Google News
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

Blockchain - What Is It And How Does It Work? | Binance Academy

Binance Academy Binance Academy 26.05.2022 15:36
What is blockchain? In short, a blockchain is a list of data records that works as a decentralized digital ledger. The data is organized into blocks, which are chronologically arranged and secured by cryptography.  The earliest model of a blockchain was created in the early 1990s when computer scientist Stuart Haber and physicist W. Scott Stornetta employed cryptographic techniques in a chain of blocks as a way to secure digital documents from data tampering.  The work of Haber and Stornetta certainly inspired the work of many other computer scientists and cryptography enthusiasts - which eventually led to the creation of Bitcoin as the first decentralized electronic cash system (or simply the first cryptocurrency).   Although blockchain technology is older than cryptocurrencies, it was only after the creation of Bitcoin in 2008 that its potential started to be recognized. Since then, the interest in blockchain technology has been growing gradually, and cryptocurrencies are now being acknowledged on a larger scale. Blockchain technology is mostly used to record cryptocurrency transactions, but it suits many other kinds of digital data and can be applied to a wide range of use cases. The oldest, safest, and largest blockchain network is Bitcoin, which was designed with a careful and balanced combination of cryptography and game theory. Learn more on Binance.com How does blockchain work? In the context of cryptocurrencies, a blockchain consists of a stable chain of blocks, each one storing a list of previously confirmed transactions.  Since the blockchain network is maintained by a myriad of computers spread around the world, it functions as a decentralized database (or ledger). This means that each participant (node) maintains a copy of the blockchain data, and they communicate with each other to ensure that they are all on the same page (or block). Therefore, blockchain transactions occur within a peer-to-peer global network and this is what makes Bitcoin a decentralized digital currency that is borderless, and censorship-resistant. In addition, most blockchain systems are considered trustless because they do not require any kind of trust. There is no single authority in control of Bitcoin. A central part of almost every blockchain is the process of mining, which relies on hashing algorithms. Bitcoin uses the SHA-256 algorithm (Secure hash algorithm 256 bits). It takes an input of any length and generates an output that will always have the same length. The output produced is called a "hash" and, in this case, is always made of 64 characters (256bits). So the same input will result in the same output, no matter how many times the process is repeated. But if a small change is made to the input, the output will change completely. As such, hash functions are deterministic, and in the cryptocurrency world, most of them are designed as a one-way hash function. Being a one-way function means that it is almost impossible to calculate what was the input from the output. One can only guess what the input was, but the odds of guessing it right are extremely low. This is one of the reasons why Bitcoin's blockchain is secure. Now that we know what the algorithm does, let's demonstrate how a blockchain works with a simple example of a transaction. Imagine that we have Alice and Bob along with their Bitcoin balance. Let's say Alice owes Bob 2 Bitcoins. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM For Alice to send Bob that 2 bitcoin, Alice broadcasts a message with the transaction that she wants to make to all the miners in the network. In that transaction, Alice gives the miners Bob's address and the amount of Bitcoins she would like to send, along with a digital signature and her public key. The signature is made with Alice's private key, and the miners can validate that Alice, in fact, is the owner of those coins. Once the miners are sure that the transaction is valid, they can put it in a block along with many other transactions and attempt to mine the block. This is done by putting the block through the SHA-256 algorithm. The output needs to start with a certain amount of 0's in order to be considered valid. The amount of 0's needed depends on what's called the "difficulty," which changes depending on how much computing power there is on the network. In order to produce an output hash with the desired amount of 0's in the beginning, the miners add what's called a "nonce" into the block before running it through the algorithm. Since a small change to the input completely changes the output, the miners try random nonces until they find a valid output hash. Once the block is mined, the miner broadcasts that newly mined block to all the other miners. They then check to make sure that the block is valid so that they can add it to their copy of the blockchain and the transaction is complete. But in the block, the miners also need to include the output hash from the previous block so that all blocks are tied together, hence the name blockchain. This is an important part because of the way trust works in the system. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Every miner has their own copy of the blockchain on their computer, and everyone trusts whichever blockchain that has the most computational work put into it, the longest blockchain. If a miner changes a transaction in a previous block, the output hash for that block will change, which leads to all the hashes after it changing as well due to the blocks being liked with hashes. The miner would have to redo all of the work in order to make anyone accept his blockchain as the right one. So if a miner wanted to cheat, he would need more than 50% of the network's computing power, which is very unlikely. Network attacks like this are thereby called 51% attacks. The model of making computers work in order to produce blocks is called Proof-of-Work (PoW) there are also other models like Proof-of-Stake (PoS) which do not require as much computing power and are meant to require less electricity while being able to scale to more users.   Follow FXMAG.COM on Google News
KuCoin’s Into The Cryptoverse Report Reveals 27% of US Adults Invested in Cryptocurrencies | KuCoin

KuCoin’s Into The Cryptoverse Report Reveals 27% of US Adults Invested in Cryptocurrencies | KuCoin

Kucoin Blog Kucoin Blog 26.05.2022 16:11
The global cryptocurrency exchange KuCoin has released the Into The Cryptoverse US Report detailing statistics about the adoption of cryptocurrencies and blockchain technologies in the United States. The report provides important insights into the penetration of decentralized technologies and digital currencies into US citizens’ financial and investment behavior based on a survey conducted among adults in the US. According to the survey by KuCoin, the share of crypto investors among US adults has gone up 5% compared to Q4 of 2021, which is equivalent to 8 million people entering the cryptocurrency investment market. As of March of 2022, 50 million, or 27%, of US adults aged 18-60 are crypto investors who currently own or have traded in the past six months. The report also reveals essential shifts in demographics – in Q1 2022, women accounted for 35% of crypto investors, 5% up from the previous quarter. In Q1 2022, 47% of female crypto investors stated that they are familiar with how cryptocurrencies work and how to invest in them, which is 17% lower than their male counterparts. 41% of female crypto investors claimed to understand the basic concepts of cryptocurrencies, and another 12% only know cryptocurrency as a term. The findings show that the cryptocurrency market has become less men-dominated, and female crypto users have gradually increased. But at the same time, the gender gap in crypto literacy and confidence in crypto investment remains. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Interest in cryptocurrencies is rated high, as 53% of the surveyed US crypto investors claimed to have doubled down their money invested in cryptocurrencies in the first quarter of 2022. At the same time, 59% plan to increase their investment in cryptocurrencies over the next six months. The generation gap is also narrowing, as the share of 41-50-year-olds rose by 7% over the past quarter, cannibalizing the percentage of younger age groups.   Financial results from crypto investments have played an essential role in the given share since those earning more than $100,000 a year have grown by 7%. A contributing factor is a good level of familiarization with decentralized assets, as evidenced by the results of Q1 2022, in which 58% of crypto investors claimed that they were familiar with how cryptocurrencies work and the way to invest in them. The given share is a 6% drop from the previous quarter, indicating a more robust demand for crypto education. 68% of crypto investors report actively learning about crypto on social media, a 7% increase from the previous quarter. The number is higher among young investors aged 18-30, reaching 75% in Q1 2022. The top sources of crypto information are social networks, as 46% of respondents stated that they acquired their knowledge on YouTube, which is more prevalent than most crypto-specific data and news platforms. 32% of crypto investors find their data on Facebook, 25% on Twitter, and 24% on Instagram through searches for crypto-related content. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM The improvement of the quality of life is a leading factor for investments in cryptocurrencies among 37% of users, while 22% do so to buy things they enjoy. Financial freedom is a top goal for 27% of crypto investors, who hope to profit from cryptocurrency investments to free themselves from 9-to-5 workplace routines. The motivation is powerful among Millennials and Gen Z, and older Gen X. 28% of crypto investors above age 50 bet on crypto as part of their early retirement plan, and 18% plan to use crypto gains to start their businesses. Despite the lackluster results on penetration, 48% of US crypto investors consider cryptocurrencies to be “the future of finance,“ which is the top reason to invest across all age groups. For many, cryptocurrencies are a culture and a part of their identities and beliefs backed and strengthened by the communities formed around them. Younger users see cryptocurrencies as a source of hope for the future and a path to accumulate wealth. 37% of crypto investors expect to earn high returns from their crypto investments, in the long run, 38% use them as a source of passive income, and 31% consider them a reliable store of value. Another 36% stated that cryptocurrencies are a trend that has to be leveraged. Follow FXMAG.COM on Google News The “Fear of missing out” factor is still a key driving factor for crypto investors since 26% of respondents stated that they invest in cryptocurrencies to gain short-term returns, while more than 35% invest to diversify overall portfolios as a growing number of brands and platforms supporting cryptocurrency payments emerges, as many as 35% of users stated that they are buying crypto for its uses in transactions. The KuCoin Into The Cryptoverse US Report indicates that a growing share of the US population is getting acquainted with cryptocurrencies, which have acquitted themselves as reliable investment assets with high yields. KuCoin believes that the penetration of decentralized technologies in US society will grow as sources of crypto-related information multiply and crypto payments become mainstream in light of the stabilization of the market. Click here to download the full report. About KuCoin Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 18 million users in 207 countries and regions. In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts. Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe YouTube Channel>>> Source: KuCoin
Altcoins: What Is HEX? - A Deeper Look Into The HEX Blockchain

Altcoins: What Is HEX? - A Deeper Look Into The HEX Blockchain

Rebecca Duthie Rebecca Duthie 26.05.2022 17:23
Summary: What is the HEX Platform and how does it work? Advantages of the HEX exchange. HEX's past, present and future price positions. The HEX Platform HEX was launched in December 2019, and is the first blockchain Certificate of Deposit, that offers high returns, no minimum and decentralised design. The average return staked on HEX is around 38%. The current circulating supply of HEX is more than 173.4 billion coins, with no maximum supply. The market capitalization is more than $12.8 billion, which puts HEX in the top 10 cryptocurrencies in terms of market capitalisation. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM HEX is an ERC20 token that is launched on the Ethereum network. The HEX token is designed to act as a store of value to replace the Certificate of Deposit as the blockchain counterpart of the Certificate of Deposits used in traditional financial markets. HEX token is also designed to leverage off the emerging decentralised finance (DeFi) ecosystem in finance using the Ethereum network. Outperforming Ethereum? According to HEX.com the HEX cryptocurrency was designed to outperform Ethereum, and has achieved good results since its inception. Behind the scenes, the HEX cryptocurrency is an advanced game theory that has been updated to eliminate all of Bitcoins flaws. HEX utilises the Ethereum network for the transaction layer (the layer that makes it possible to send and receive HEX tokens as well as allowing interactions with the HEX smart contract), whilst the consensus code and staking mechanism is contained in the HEX smart contract. Certificates of Deposits are common investment tools that are normally managed by banks. The Certificate of Deposit market is a trillion dollar market and is used worldwide. HEX took the concept of Certificates of Deposits, removed banking fees, added a higher average return rate and turned it into a decentralised cryptocurrency. HEX’s coin - HEX USD HEX allows their users to stake their HEX coins for a share of a new coin issuance, or inflation and contains features that are designed to incentivise behaviours that will encourage price appreciation and discourage behaviours that could harm the price. The HEX smart contracts rewards stakers for staking larger amounts of HEX for longer periods and penalises stakers for ending their stake early. When lockup periods are over, HEX coins are created to pay off the existing holders. At the end of the first year of launch, all HEX coins that were not claimed by Bitcoin holders are distributed to the rest of the HEX users who have active stakes. After the first year of launch, the maximum possible annual inflation is designed to be 3.69%. For Bitcoin holders, HEX coin is a free airdrop, when switching from Bitcoin to HEX, users are not required to pay anything in the process. Interest on HEX coins are paid in HEX, the monetary value of the paid interest is determined by the market value of HEX at the time of maturity. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Advantages of the HEX blockchain Faster and cheaper to transact, the Ethereum platform that HEX operates on Makes use of Ethereum's security which makes the HEX platform safe. The biggest benefits are offered for users that stake for a longer period of time. There are no intermediaries required for users that convert Ethereum to HEX. Early claimers are rewarded with bonuses. Bonuses are given to both the referrers and to those who are referred. Users who lock their HEX on time receive interest and unclaimed coins. Larger and longer term investments are rewarded with additional shares, the price per share continues to rise. HEX equalises incentives, therefore, the more participants on the network, the better. Follow FXMAG.COM on Google News How to buy HEX Users will need to download the coinbase wallet if they want to buy HEX. Buy and transfer Ethereum (ETH) tokens and transfer them to your coinbase wallet. Using the trade tab, use your ETH to buy HEX. Past, present and future prices HEX price only started picking up in the first quarter of 2021, before then the price remained low. In October of 2021 the price of HEX rallied, and then fell again. HEX had a disappointing start to 2022 and lost 35% of its value. The current investor risk off sentiment has affected HEX the same way it has to some of the other cryptocurrencies. There is a link between the cryptocurrency market and the broader markets, the broader market sentiment's sell-off attitude is reflected in the graph below over the past few months. Some analysts believe that the price of HEX will continue to increase for the next 10 years, with the possibility of the price reaching $4 per coin by the time 2031 comes around. This forecast is based solely on numerical data, due to the volatility of the cryptocurrency market, it is difficult to make an accurate forecast for the price of HEX. HEX Price Chart Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM Sources: finance.yahoo.com, coinbase.com, techstory.in, coinmarketcap.com, hex.com, technewsleader.com
Binance Academy: Coin Burn - What Is It?

Binance Academy: Coin Burn - What Is It?

Binance Academy Binance Academy 27.05.2022 10:56
Note: The first section of this article explains the previous burn function of Binance Coin while it was on the Ethereum network. Binance Coin is now on the Binance Chain, so the burn function behaves differently. However, the discussion still applies to all current ERC-20 tokens that support the burn function.   Coin burning is the process of permanently removing cryptocurrencies from circulation, reducing the total supply. To explain how this works, we will be using Binance Coin (the old BNB ERC-20) as an example. The previous contract for BNB, while it was on the Ethereum network, can be found here. When the Binance Coin was still part of the Ethereum network, Binance performed periodic Coin Burn events using a smart contract function known as burn function. The BNB burning events are scheduled to occur every quarter until 100,000,000 BNB are finally destroyed, which represents 50% of the total BNB ever issued (200,000,000 BNB). The amount of BNB coins to be burned is based on the number of trades performed on the exchange within a 3-months period. So after each quarter, Binance burns BNB according to the overall trading volume. However, it seems that a considerable amount of people still fail to understand how Coin Burns are executed. The present article aims to provide relevant information in regards to the burn function and the quarterly BNB Coin Burn events. Learn more on Binance.com How does it work? Basically speaking, a token burn event happens in the following order: A cryptocurrency holder will call the burn function, stating that they want to burn a nominated amount of coins. The smart contract will then verify that the person has the coins in their wallet and that the number of coins stated is valid. The burning mechanism only allows positive numbers. If the person doesn’t have enough coins, or if the stated number is invalid (e.g., 0 or -5), the burn function won’t be executed. If they do have enough, then the coins will be subtracted from that wallet. The total supply of that coin will then be updated, meaning that the coins were permanently burned. If you execute the burn function to burn your coins, they will be destroyed forever. It's impossible to recover coins after they are burned, and thanks to blockchain technology, the proof of burn can be easily verified on a blockchain explorer.   In other words, the Binance Coin contract has a function known as burn function, which is available to anyone at any time. By calling this function, you can permanently remove a nominated amount of coins from the circulating supply of a blockchain network. As mentioned, every token burning event is recorded as a transaction on the blockchain. The burning mechanism is transparent, and anyone is able to verify that the coins have been destroyed. As soon as a quarterly Coin Burn takes place, Binance makes an official announcement that specifies the amount of BNB coins that were burned (based on the trading volume for that quarter). You can verify all BNB ERC-20 Coin Burn transactions on an Ethereum blockchain explorer, such as Etherscan. The burning transactions are public, irreversible, and permanently recorded on the blockchain. On Etherscan, you can see the details about a burning transaction on the Input Data box.   If you click Decode Input Data, you can check the amount of BNB that was burned. The number includes the 18 decimals, so in this example, 1,623,818 BNB were burned.     The current Binance Burn function Since the launch of the Binance Chain, the BNB ERC-20 tokens were gradually swapped by the native Binance Coins (BNB BEP-2). This means that the Coin Burn events now take place on the Binance Chain and not on the Ethereum network. It’s worth noting that all BNB ERC-20 coin burns were “replicated” on the Binance Chain to ensure that the total supply is the same. As such, the 11,654,397 BNB ERC-20 tokens that were previously burned on the Ethereum network were also burned on the Binance Chain (right after the mainnet launch). You can check this specific burning transaction on the Binance Chain Explorer. You can also check the total supply of BNB. The current BNB coin burn mechanism doesn’t rely on a smart contract anymore but on a specific command executed on the Binance Chain. You can find more details on the Binance Chain Docs page. As of April 2022, Binance completed 19 BNB Coin Burn events. In total, 36,723,852.37 BNB coins were burned, reducing 18.36% of the Total Supply (now at 163,292,674.61 BNB). Coin Burn BNB Burned Approx. BNB Price Approx. USD Value % of Total Supply #1 (Oct 2017) 986,000 $1.52 $1,500,000 0.49% #2 (Jan 2018) 1,821,586 $21.96 $40,000,000 0.91% #3 (Apr 2018) 2,220,314 $13.52 $30,000,000 1.11% #4 (Jul 2018) 2,528,767 $12.93 $32,700,000 1.26% #5 (Oct 2018) 1,643,986 $10.34 $17,000,000 0.82% #6 (Jan 2019)  1,623,818 $5.83 $9,400,000 0.81% #7 (Apr 2019) 829,888 $18.79 $15,600,000 0.41% #8 (July 2019) 808,888 $29.47 $23,800,000 0.40% #9 (Oct 2019) 2,061,888 $17.80 $36,700,000 1.03% #10 (Jan 2020) 2,216,888 $17.50 $38,800,000 1.11% #11 (April 2020) 3,373,988 $15.55 $52,466,000 1.69% #12 (July 2020) 3,477,388 $17.40 $60,500,000 1.74% #13 (Oct 2020) 2,253,888 $30.17 $68,000,000 1.13% #14 (Jan 2021) 3,619,888 $45.80 $165,791,000 1.81% #15 (Apr 2021) 1,099,888 $541.25 $595,314,380 0.55% #16 (Jul 2021) 1,296,728 $303.59 $393,673,653 0.65% #17 (Oct 2021) 1,335,888 $478.68 $639,462,868 0.66% #18 (Jan 2022) 1,684,387.11 $474 $798,399,490 0.84% #19 (Apr 2022) 1,839,786.26 $403.22 $741,840,738 0.91% TOTAL 36,723,852.37 - $3,760,948,130 18.36% BNB Destruction History (Quarterly Coin Burn).
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

What Is NFL Rivals? Web3 Gaming By Square Enix? Playstation And Metaverse!? | Weekly GameFi Update (Week 20, 20/05/2022 – 26/05/2022) | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 27.05.2022 11:23
Square Enix to heavily invest in Web3 gaming after selling Tomb Raider franchise. Sony dives into the Metaverse using the Playstation platform. Key Takeaways In its Q1 earnings report, Square Enix revealed that they plan on heavily investing in Web3 gaming, including implementing NFTs in more of their games and issuance of their own tokens. The gaming giant sold the rights to Tomb Raider, among other titles earlier this month to make way for the sweeping changes.  In their latest annual corporate strategy meeting, Sony announced their intention to dive into the metaverse. The electronics giant plans on using the Playstation brand to “create new experiences in the area of the metaverse”. a16z has announced a US$600M Web3 gaming fund, named “GAMES FUND ONE”. The initiative will go towards gaming studios and other companies building infrastructure for Web3 titles.  The total market cap for GameFi tokens now stands at US$35.47 billion, down -1.48% from last week. Highlights Saga raises US$6.5M seed round to help build dedicated blockchains for gaming and entertainment Azra Games raises US$15M for play-and-earn RPG with NFTs The Smurfs village to debut in the metaverse after partnering with The Sandbox Gap partners with Roblox for metaverse experience Pantone partners with Spatial Labs for metaverse wearable hardware product Zoom introduces new metaverse meeting feature in beta Apple unofficially targeting the metaverse with mixed reality headset Soap brand Dove files metaverse patents Metaverse social app BUD raises US$36.8M in Series B funding World Economic Forum jumps on the metaverse craze with virtual global collaboration village Boss Cat Rocket Club builds first all-inclusive metaverse on Cardano NFL and Mythical Games to launch ‘play-and-own’ NFT game ‘NFL Rivals’ Game Updates Nitro League updates roadmap for its racing metaverse Crypto Blades introduces its largest patch to date Decentraland is postponing The Wearable fee changes Sorare adds scarcity filter Shine Fusing goes live on Gods Unchained Realms of Ethernity staking goes live Top Gainers and Losers     Top Games Metrics     Top 15 Largest Tokens by Market Cap     Daily Gamers by Blockchain Tags CRYPTO CRYPTO RESEARCH CRYPTO.COM RESEARCH CRYPTOCURRENCIES GAMEFI MARKET
Altcoins: Tezos (XTZ) What Is It? - A Deeper Look Into The Tezos Platform

Altcoins: Tezos (XTZ) What Is It? - A Deeper Look Into The Tezos Platform

Rebecca Duthie Rebecca Duthie 27.05.2022 14:20
Summary: What is the Tesoz Platform and how does it work? Advantages of the Tesoz exchange. Tesoz’s past, present and future price positions. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Tezos Platform Tezos platform is an open-source platform that tries to fix the main barriers that are facing blockchain adoption for assets and applications. Tezos is backed by validators, builders and researchers from a global community. Tezos’ design embraces upgradability in the long-term, collaboration, participation and smart contracts safety. Tezos was launched in June 2018, there is a maximum supply of 763,306,930 XTZ, the current circulating supply is 756,203,598 and has a market capitalization of $1.632 billion. The Tesoz platform was designed to power the web3 revolution. According to Tesoz.com, “The future of the internet is being built on Tezos” the core of the Tesoz platform is user participation and governance. Users are able to frictionlessly and directly communicate with each other over a decentralised network, interacting with various applications and exchanging value, without the need for intermediaries. On Tezos, web3 can be truly user-governed and user-centric, the way it was meant to be. Web3 in crypto refers to a blockchain-integrated internet whereby NFTs and cryptocurrencies are built into the platforms that are used. Basically, it is an internet owned by users. How the Tezos platform works? Tezos offers institutional grade security. It is designed to provide the safety and code correctness that is required for assets and other high value cases. This safety is and code correctness is provided at both the application and protocol layers, this is done by leveraging the OCaml and Michelson languages, both of which facilitate formal verification, a practice that is normally used in mission-critical industries. The future of web3 can be secure on Tesoz. The Tesoz platform was built with mechanisms to ensure that there would be participation and active community governance - this is a key component of web3. Tesoz is governed by the people, users are able to act actively by proposing, evaluating or approving amendments to Tezos. This allows Tesoz to remain on the top of technology, and is why Tezos is in a good position to underpin the revolution of web3. Tesoz facilitates an energy efficient algorithm through its proof-of-stake (PoS) network. The proof-of-stake network is not only energy efficient but is also cost efficient. As the web3 movement gains momentum regarding adoption, scaling responsibility requires a more energy efficient approach. Tezos is one of the leading smart contracts proof-of-stake blockchains, the Tesoz smart contracts can use formal verification which allows them to be secure, mathematically verified and reliable. The Tezos platform is built to be able to adapt, adjust and add features and functionality through its proven on-chain upgrade mechanism. The Tezos platform is powerfully scalable, the platform is built to remain state-of-the-art. Tezos’ XTZ token Tez (XTZ) is the Tezos blockchains native token, it is used to interact with dApps, pay for fees, provide a basic accounting unit on the Tezos platform and secure the network through staking. Advantages of Tezos Tezos utilises Proof-of-Stake consensus mechanism, this only requires the users to provide the necessary resources to keep the network working. Tesoz’ blockchain allows any stakeholder to participate in the consensus mechanism and offers rewards for contributing to the stability and security of the network. Tezos has a modular architecture and formal upgrade mechanism which allows the platform to smoothly adopt new technological innovations as they emerge. Tezos offers formal and systematic procedures for stakeholders to reach some agreements on proposed protocol amendments. Past, present and future prices of XTZ The history of Tezos’ price has shown large volatility, the price originally spiked after being launched, in 2019 the price of XTZ fell to its all time low, since then the price has not seen much stability, but has, overall increased. Over the past month, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price has been falling. The future price prediction of Tezos is based on data and does not take into account investor sentiment and the changing market conditions. According to some analysts, overall the price of Tezos is expected to rise in the future and could reach a value north of $45 per token by 2030. XTZ Price Chart Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM Sources: finance.yahoo.com, blockchain-council.org, tezos.com, coinmarketcap.com, cnet.com, chanelly.com
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

"BTC is the most reliable asset in this very volatile world"!? Ether (ETH/USD) Decreased By Over 10% Throughout Last Week, Solana (SOL) Lost 14.8%. What About Polkadot (DOT)? | FxPro

Alex Kuptsikevich Alex Kuptsikevich 30.05.2022 08:27
Bitcoin is down 2.5% over the past week, ending near $29,200. Ethereum lost 10.6%, while other leading altcoins in the top 10 fell from 1% (Polkadot) to 14.8% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 2.4% over the week to $1.26 trillion. Bitcoin’s dominance index jumped 1.3 points to 44.9% over the same time due to the better performance of the first cryptocurrency. Cryptocurrency fear and greed index The cryptocurrency fear and greed index was down to 10 points by Monday. However, this drop does not consider the positive market performance in the early hours on Monday. Bitcoin has closed lower for eight consecutive weeks, the longest sell-off streak in the first cryptocurrency’s existence. But the last two weeks have been very tentative declines. Follow FXMAG.COM on Google News How Much Is 1 Bitcoin? On Monday morning, BTCUSD surpassed the $30K mark again and returned to last week’s highs, breaking above the downside resistance line in a strong move. It will be premature to talk about a bullish counteroffensive until Bitcoin gets above $30.6K, its horizontal resistance line since mid-May. Renewed risk appetite in global markets is fuelling hopes of a turnaround. Divergence in equity and cryptocurrency dynamics was conspicuous last week, highlighting the weakness of the crypto market. Bill Miller, head of investment firm Miller Value Partners, called bitcoin an effective means of accessing financial services regardless of military and economic situations Dan Held, business development director at crypto exchange Kraken, believes the current crypto crisis is not as severe as previous ones, as institutional players have entered the market in recent years and increased market liquidity. We would add that thanks to the expanded crypto market capacity, we haven’t seen as much of a surge in the bull cycle of 2021 as we did in 2013 and 2017, which explains the not-so-high ‘winter’ losses. MicroStrategy CEO Michael Saylor said he will always buy bitcoin. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM According to him, BTC is the most reliable asset in this very volatile world. Bill Miller, head of investment firm Miller Value Partners, called bitcoin an effective means of accessing financial services regardless of military and economic situations. Regulation of cryptocurrencies would help with the crisis in the crypto market, according to Deutsche Bank.
Bitcoin Price Reaching $20K Is Still Possible, Even If The Crypto Market Crash Is Believed To Be Over | Geco.one

Bitcoin Price Reaching $20K Is Still Possible, Even If The Crypto Market Crash Is Believed To Be Over | Geco.one

Geco One Geco One 30.05.2022 14:22
After a fall of more than $13,000 that we saw between 5 and 12 May, Bitcoin stopped in the area of ​​$28,500 technical support. There have been many different kinds of demand reactions in this area. It was no different now. Bitcoin Price (BTC/USD) This time, however, this rebound turned out to be highly modest; as a result, Bitcoin has been moving in a horizontal trend for three weeks. The rebound from the lower bound of this formation observed last weekend may drive an increase towards its upper limit, i.e. resistance of $31,500. However, it seems highly probable that the increases observed since Saturday will not lead to a permanent change in the market attitude and the return of BTC to the path of long-term gains. For this to happen, the quotations of the oldest virtual currencies would have to break above $31,500. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Price Of Bitcoin Reaching $20K!? Considering that consolidations are corrective formations and, statistically, more often, the market breaks out of these systems in the direction consistent with the previous move, there is a high probability that there will be a more significant supply response in the area of this resistance. It could signal a potential for further declines in the region of $28,500, even further toward $24,000, or even below $20,000. This scenario supports the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci retracements from an earlier downward impulse. This prediction can change if Bitcoin breaks above the technical resistance of $31,500. Then we could expect a continuation of increases towards $34,500, or further to $37,000. Ether Price (ETH/USD) Looking at the Ethereum quotes, we notice that, in line with our last week's projection, the cryptocurrency's rate in the second half of last week broke below the technical support of $1,900 and slipped as much as $1,730. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM It is where the demand reaction reappeared last weekend. As the new week starts, it has led to a re-test of a previously defeated support (now resistance) of $1,900. The immediate future of ETH will now depend on what happens around the level currently being tested. Its permanent defeat, i.e. a break above $1,900, could open the way to further increases towards $2,150 or further towards $2,350. However, the emergence of a more significant supply response at this point, signalling a potential rejection of the resistance currently tested, could, in turn, indicate a potential for a further decline to $1730 or even further toward $1400. Polygon (MATIC) Looking at the MATIC quotations, we can see its price has been in the horizontal trend for almost three weeks between the technical support of $0.57 and the resistance of the $0.75. If the increases observed since last Saturday will continue, the MATIC quotations could return to $0.75. However, considering that this resistance coincides with the measurement of 38.2% Fibonacci retracements, it seems highly probable that more supply pressure will reappear in its vicinity. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM It is also worth remembering that consolidations are corrective patterns, which in this particular case increases the probability that the market will try to break out of this pattern with the bottom and further decline even towards $0.45. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one
Cryptocurrency market: Bitcoin Cash - what could a valid breakdown below 95.15 mean?

Altcoins: Bitcoin Cash (BCH), What Is It - A Deeper Look Into Bitcoin Cash

Rebecca Duthie Rebecca Duthie 30.05.2022 15:25
Summary: What is the Bitcoin Cash Platform and how does it work? Advantages of the Bitcoin Cash exchange. Bitcoin Cash’s past, present and future price positions. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM Bitcoin Cash Platform Bitcoin Cash (BCH) is an extension of the Bitcoin (BTC) cryptocurrency and was created as a way to get around some of Bitcoins flaws, it was launched in August 2017. Anybody who held Bitcoin (BTC) at the time of Bitcoin Cash’s launch, received BCH. Both platforms are run mainly on the framework, proof-of-work (PoW), and make use of nodes to verify transactions. The main differentiating characteristic between Bitcoin Cash and Bitcoin is the blocksize. The blocks in the Bitcoin Cash blockchain can be larger, this means that more Bitcoins can be processed at a time, therefore the additional space aids in avoidance of higher fees. Bitcoin Cash has a maximum supply of 21 million tokes, a market capitalisation of more than $3.5 billion and a current circulating supply of just over 18.5 million tokens.   Bitcoin Cash offers peer-to-peer electronic cash. The Bitcoin Cash platform brings safe money to the world, which fulfils the original promise of Bitcoin as “Peer-To-Peer Electronic Cash”. Through reliable confirmations and low fees, traders feel empowered. The future of Bitcoin Cash looks bright with its permissionless innovation, global adoption, unrestricted growth and its decentralised development. Benefits of the BCH platfrom Bitcoin Cash offers more anonymity and privacy than mainstream platforms such as banks and credit cards etc. it is almost impossible to discover who controls a Bitcoin address. Bitcoin Cash supports token protocols that are able to power a wide diversity of projects and makes it easy for users to create their own token backed projects. Bitcoin Cash supports worldwide freedom thanks to its permissionless open network. Bitcoin Cash users are empowered to speak with other real people without being interrupted. In addition the platform is decentralised, non-aggressive and voluntary. Decentralised finance (DeFi) applications are supported by the SmartBCH, which is a high performing EVM and Web3 compatible sidechains. A growing number of NFT projects and decentralised exchanges are included in this. Advantages of the Bitcoin Cash platform The Bitcoin Cash platform is extremely fast, transactions happen in seconds and get confirmed within minutes. Reliable, the Bitcoin Cash platform runs without problems or backlogs. The fees to send money both locally and to anywhere in the world using the Bitcoin Cash platform are extremely low. The Bitcoin Cash platform is extremely user friendly with no limits on transaction sizes and without the need for permission. The stability of the Bitcoin Cash platform has been a proven store of value. The Bitcoin Cash platform has been proven to be one of the worlds most robust blockchain technologies. The Bitcoin Cash platform is available to its users 24 hours per day 365 days per year. Users are their own bank and have full control over their money. Bitcoin Cash gives users full sovereign control over their funds, which are accessible from anywhere in the world. Bitcoin Cash has their own currency which has a fixed supply of 21 million tokens, this represents sound money. Many merchants offer discounts for paying with Bitcoin Cash due to the fact that it eliminates credit card fees and helps to expand adoption of this new system. Merchants also have certain benefits: Very low fees, the fees for transacting Bitcoin Cash are super low, in addition, the fees for going through merchants to exchange Bitcoin Cash for fiat currency are also lower than more traditional methods of doing this. There are no chargebacks for merchants, fraud protection is built into the Bitcoin Cash system, with no extra charge for the merchants. As Bitcoin Cash becomes increasingly popular, users often favour merchants who allow Bitcoin Cash payments and sometimes seek them out, Free press and marketing. Past, Present and future prices of BCH In the past, the price of Bitcoin Cash reacted to mining and rival coins and made BCH spike hugely. Many market participants began to see Bitcoin Cash as a rival currency instead of a fork of Bitcoin. After the spike, the price has fallen consistently, until seeing a rise in the price in the first half of 2021. Over the past month, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price has been falling. According to some analysts, the price of Bitcoin Cash is expected to increase to more than $905 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Bitcoin Cash Price Chart Read next: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA) | FXMAG.COM Sources: finance.yahoo.com, bitcoincash.org, coinmarketcap.com, cryptonewsz.com
ShibaSwap, ShibaBurn, SHIB: The Metaverse. Can They Make Shiba Inu (SHIB) Crypto Rise? What's Going To Be Bitcoin Price (BTC/USD)? | FXStreet

ShibaSwap, ShibaBurn, SHIB: The Metaverse. Can They Make Shiba Inu (SHIB) Crypto Rise? What's Going To Be Bitcoin Price (BTC/USD)? | FXStreet

FXStreet News FXStreet News 30.05.2022 16:41
Shiba Inu price shows signs of expansion after coiling up for roughly two weeks. The recent recovery could be key in triggering a 75% upswing to $0.0000201. A breakdown of the support level at $0.0000106 will invalidate the bullish thesis for SHIB. Shiba Inu price shows that the bulls are back in town, however, a confirmation is still required before a green light can be given. A retest of the immediate barrier will provide SHIB with the required validation and further trigger a minor uptrend. While technicals provide one half of the picture, adding fundamentals completes the analysis. For Shiba Inu, the developers seem to be keeping their heads down and working on major upgrades and additions to the meme coin ecosystem like ShibaSwap, ShibaBurn and SHIB: The Metaverse. All positive developments. Decentralized Exchange, ShibaSwap Launched in July 2021, ShibaSwap is a decentralized exchange (DEX) built on the Ethereum blockchain using the ERC-20 standard. Like many other decentralized platforms in the game, Shiba’s native DEX will allow investors to swap tokens, and provide liquidity to liquidity pools. However, unlike Uniswap, SushiSwap or other DEXs, ShibaSwap allows its users to stake their tokens, participate in governance and trade on its NFT marketplace known as Shiboshis. The main constituents of this exchange include - SHIB, BONE and LEASH. While SHIB is a native token, BONE can be used as a governance token while LEASH, a play on algorithmic stablecoins, was going to be used to track Dogecoin’s price at a /1,000 rate. However, this mechanism has since stopped and the tokens are now unleashed and have a total supply of only 107,647. Reducing Circulating Supply Through ShibaBurn ShibaBurn capability was launched on April 24, when SHIB’s market value was down 77% from its all-time high of $0.0000885. The portal was launched to allow holders to “generate passive income.” The concept of burning in the crypto ecosystem indicates reducing the effective supply of tokens in circulation. This is done by sending the tokens to a predetermined wallet by the underlying project and its developers which will not allow users to retrieve the burned tokens. Since its inception, 410 trillion SHIB have been burned, reducing the total supply of Shiba Inu tokens by 41%. Therefore, a reduction in the supply causes a negative supply shock ie., when the supply is reduced but the demand remains the same or increases. Such a development will have positive effects on the underlying asset. Shibburn.com Typically, projects burn their funds trying to keep up with declining prices and user sentiment in the bear market. Some developers continue working on their ecosystems and very few come out of the crypto winter. Despite SHIB’s fall from grace over the past months, there have been massive developments in the Shiba Inu ecosystem on multiple fronts. Hence, investors should expect the market value of the meme coin to reflect the same very soon. Interestingly, technicals are already showing bullish signs that could be the start of a quick run-up. Expanding into Web3 with SHIB Metaverse The latest addition to the ShibaBurn and ShibaSwap features is SHIB: The Metaverse, which is a play on the ongoing fad for the crypto ecosystem to be interconnected with Web3. Like many Web3 or Metaverse-focused projects, Shib’s Metaverse plans include selling virtual land or plots. The entire metaverse can be split into four districts - Growth District, Defense District, Technology District and Currencies District. These districts further have segregations from Tier 1 through 4, with the former being the most “rarest” and by extension the most expensive. After minting their lands using their SHIB tokens, investors can add logos, rename plots, and lease them, all of which will leverage the native altcoin and even burn it. The developers have further plans to integrate LEASH and BONE as the metaverse receives updates. Shiba Inu price readies for significant recovery Shiba Inu price created a range, extending from $0.0000114 to $0.0000143 as it rallied 35% between May 12 and 13. This run-up faced a sell-off and swept the range low to retest the $0.0000106 support level. Since then, SHIB has recovered into the said range and is aiming to continue this trend. Interested investors can wait for Shiba Inu price to retrace and retest the range low before triggering a 25% move to retest the $0.0000143 hurdle. While this move is impressive, this is not where SHIB will stop its journey, since the bulls are aiming for the $0.0000201 barrier, which was significant support for Shiba Inu price between January 22 and May 6. In total, this move would constitute a 75% gain and is likely where the upside is capped for the meme coin. SHIB/USDT 4-hour chart On the other hand, if Shiba Inu price fails to bounce off the range low at $0.0000114, it will indicate buying weakness. If this move breaks down the subsequent support level at $0.0000106 it will create a lower low and invalidate the bullish thesis. Such a development will open the path for bears to tank Shiba Inu price to $0.0000089. Where is Bitcoin price heading next? In the following video, FXStreet analysts evaluate Bitcoin price action to determine where it will go next and whether altcoins will move in the same direction:
Will ETH Beat BTC? Are BTC ETFs Coming Shortly? Extreme Fear! Bitcoin Price (1 BTC) Has Neared $32K! BTC Gained 7% Yesterday, Ether Price (ETH/USD) Increased By 8.2% And Cardano Price (ADA/USD) Added 14.8% | FxPro

Will ETH Beat BTC? Are BTC ETFs Coming Shortly? Extreme Fear! Bitcoin Price (1 BTC) Has Neared $32K! BTC Gained 7% Yesterday, Ether Price (ETH/USD) Increased By 8.2% And Cardano Price (ADA/USD) Added 14.8% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 31.05.2022 08:55
Bitcoin jumped 7% on Monday, ending the day at around $31.2K. On Tuesday morning, positive momentum persisted, with the rate climbing above $32.0K, a 20-day high. Ethereum added 8.2%, while other top-ten altcoins gained between 4.9% (BNB) and 14.8% (Cardano). The total capitalisation of the crypto market, according to CoinMarketCap, rose 4.3% overnight to $1.31 trillion, with the Bitcoin Dominance Index rising 0.1 points to 46%. The Cryptocurrency Fear and Greed Index was up 6 points to 16 by Tuesday but still in “extreme fear”. Long-term? Due to the US bank holiday, markets were minimally active on Monday, but the momentum was on the plus side. The emerging rebound from the bottom may be self-sustaining at first, as many market participants believe that the crypto market has corrected enough to become attractive for long-term buying. Bank Of America And Crypto However, fundamentals such as halving, soft monetary policy or accelerated adoption are needed for growth to continue. But the latter is not easy right now. Bank of America CEO Brian Moynihan has stated that the bank has no plans to introduce cryptocurrencies in the foreseeable future because the industry is too strictly regulated. After the Terra project collapsed, CFTC Commissioner Caroline Pham compared investing in crypto-assets to buying lottery tickets, which can be expected to both win and lose. ETH With Bigger Market Capitalisation Than Bitcoin? Real Vision CEO Raoul Pal reiterated that in the long term, Ethereum, the leading smart contracts platform, will surpass bitcoin in terms of market capitalisation, trading volume and number of active wallets. SkyBridge Capital founder Anthony Scaramucci noted the interest of large investors in spot bitcoin ETFs and suggested they could be launched as early as this year. Payments service MoneyGram plans to launch Stablecoin transfer services in partnership with Stellar.
Altcoins: What Is Avalanche (AVAX)? A Deeper Look Into The Avalanche Platform | Rebecca Duthie

Altcoins: What Is Avalanche (AVAX)? A Deeper Look Into The Avalanche Platform | Rebecca Duthie

Rebecca Duthie Rebecca Duthie 31.05.2022 16:06
Summary: What is the Avalanche Platform and how does it work? Advantages of the Avalanche exchange. Avalanche’s past, present and future price positions. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM The Avalanche Platform The Avalanche platform is extremely fast, low-cost and eco-friendly. The Avalanche platform is an open, programmable smart contracts planform for decentralised applications (DApps). The Avalanche cryptocurrency rivals Ethereum, and its native token is AVAX. Avalanche prioritises transaction speed and scalability. In addition, the Avalanche network is a proof-of-stake (PoS) network. The Avalanche platform was officially launched in september of 2020. The platform is built across three chains: the C-chain (contract chain) which hosts Avalanches DeFi ecosystem, X-chain (exchange chain) and P-chain (platform). Through the launching of Ethereum's decentralised applications, (which confirm and instantly process thousands of transactions per second, which is far ahead of any decentralised platform today) it is possible to build fast, low-cost solidity-compatible dApps. Avalanche has a maximum supply of 720 million AVAX tokens, with more than 271 million in circulation currently. Avalanche’s current market capitalisation is around $7.25 billion. It is possible to launch private and public customised blockchains; these blockchains can be deployed to fit users own personal needs, dictate how the blockchain should operate and build their own virtual machines. Users are able to scale to millions of validators even through using minimal hardware. Users can lock-up or stake their AVAX to help process transactions and further secure their platform (the security guarantees are well above the 51% standard). The hardware required to join the platform likely exists on your devices already. The Avalanche platform has strong, rigid competitors such as Ethereum, the validators on the platform must stake 2,000 AVAX, careless or malicious validators do not get penalised on this platform. Avalanches native token, AVAX AVAX is used to secure the Avalanche network, to act as a basic unit of account amongst the blockchains in the Avalanche network and to pay transaction processing fees. Avalanches transaction fees are burnt. The AVAX token is used in staking (pledging crypto), to participate in the validation process and to help secure the blockchain. Factors that make Avalanche unique: The rate of coin creation: Avalanche users decide how fast new coins are created. The users control the rate of coin creation by means of voting to change the amount of AVAX that is rewarded to those users who add new blocks to the Avalanche blockchain. Transaction fee structure: the transaction processing costs change depending on the type of transaction and Avalanches network congestion at the time. All fees are burned (removed from circulation) to enable AVAX to become more scarce over time. The AVAX transaction fees are changeable due to the fact that Avalanche users vote on the fee. Consensus mechanism: the transactions made on the Avalanche blockchain are confirmed through the use of a unique method that requires many small, random subsets of network participants in order to confirm transactions before they are finalised. Participation incentives: both high uptime and fast responses can boost the amount of AVAX rewards that a network participant can earn for processing AVAX transactions. Advantages of Avalanches platform: Fast transaction processing time. Reward structure incentivises participation. The avalanche platform is capable of supporting many blockchain-based projects. The randomness of the consensus mechanism makes it a secure cryptocurrency. Avalanche claims that its platform supports stronger safety measures, therefore making the blockchain less vulnerable than other blockchains. Where to buy AVAX There are currently many top exchanges where users can obtain AVAX, such as Binance, OKX, CoinTiger and FTX. Past, present and future prices of Avalanche After the launch of the Avalanche network, the price took a few months to take off, and has since seen quite a lot of volatility. The price rose substantially in the second half of 2021 but has since fallen consistently. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Avalanche falls under this category. According to some analysts the future price of AVAX could reach up to $268 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. AVAX Price Chart Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM Sources: cryptonewsz.com, finance.yahoo.com, coindesk.com, investopedia.com, avax.network
Binance Academy summarise year 2022 featuring The Merge, FTX and more

How Far Can Axie Infinity (AXS) Price Go!? | BeInCrypto

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 31.05.2022 22:05
Axie Infinity (AXS) has been increasing since May 28, moving upwards by 52% from its May lows.       AXS has been falling since reaching an all-time high price of $166.09 in Nov 2021.  The downward movement so far led to a low of $16.20 in May. The ensuing bounce (green icon) served to validate the $20 area as support. The area had previously not been reached since July 2021.       The entire downward movement was preceded by a sharp bearish divergence in the weekly RSI, whose trendline is still intact. Until this trendline is broken, the trend cannot be considered bullish. If the ongoing bounce continues, the closest resistance area would be at $50. AXS/USDT Chart By TradingView Double bottom leads to bounce Between May 12 and 20, AXS created a double bottom, which is considered a bullish pattern. In addition to this, the pattern was combined with bullish divergence in the RSI (green line). As a result, its significance is increased. Furthermore, the RSI has now moved above 50, another sign that the trend is bullish. As long as the trendline of the divergence is intact, it is likely that the upward movement will continue. If it does, the closest resistance levels would be between $39 and $46, the 0.382 to 0.5 Fib retracement resistance levels. AXS/USDT Chart By TradingView AXS wave count analysis Cryptocurrency trader @Mesni_burek tweeted a chart of AXS, stating that the price is correcting after completing a five-wave upward movement. Source: Twitter While it seems that the price has completed a five-wave upward movement since March 2021, the count for the drop is less certain. It is possible that the decrease is a completed A-B-C structure. But the B wave does not retrace enough relative to the A wave, and the C wave shows no relation to A.  AXS/USDT Chart By TradingView So, the alternative would be that the decrease is a completed five-wave downward movement.  While this would mean that AXS will eventually reach a lower low, the short-term movement would be the same, in which a significant bounce towards $74 would be expected. AXS/USDT Chart By TradingView For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   Source: BeInCrypto
Layers 1 & 2 (Week 29, 19/07/2022 – 25/07/2022)

When Will Ethereum Get Rid Of Mining ETH!? Terra Is Now "Terra Classic", Is Bitcoin (BTC) Easier To Mine? | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 31.05.2022 11:32
Terra 2.0 launches with airdrop for previous Terra holders. Staking for ETH 2.0 reaches 10% of ETH circulating supply. Bitcoin Lightning Network’s capacity reaches new high at 3,900 BTC. Key Takeaways Terra was rebranded as Terra Classic (LUNC), while its hard fork Terra 2.0 (LUNA) commenced with an airdrop for previous holders. After peaking at $19.53, the new LUNA is trading at around $9.67 as of the time of writing. Ethereum (ETH) is preparing for the Merge, with 10% of its token’s circulating supply now being staked in ETH 2.0 and developers agree to delay the difficulty bomb by two to four months. The mining difficulty of Bitcoin (BTC) dropped by 4.3%, while the capacity of the Lightning Network reached an all-time high of 3,900 BTC. Cronos (CRO) reached 44.03M total transactions, an increase of +3.86% from last week. Highlights Ropsten Beacon Chain successfully launched OpenEthereum support ends with the Merge fast approaching Ethereum Beacon Chain experiences 7 block reorg: What’s going on? Ethereum miner tries to expedite testnet Merge by 2 weeks Optimism Foundation cracks down on airdrop farmers Avalanche’s new proposal wants ApeCoin on its subnet Hydropower plant in China’s Hubei province fined for powering crypto mining Cryptosat’s first nanosatellite blasts off Wednesday on SpaceX rocket Injective partners with Wormhole to bring 10 new blockchains to the platform Improving Bitcoin privacy with silent payments Frank McCourt, Gavin Wood team up to create new social media platform Layer 1 Project Metrics     Layer 2 Project Metrics     Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES LAYER 1 LAYER 2 Source: crypto.com
What's The Difference Between Cryptocurrencies [Bitcoin (BTC), ETH, XRP] And Stocks? | Binance Academy

Altcoins: Uniswap Protocol (UNI), What Is it? - A Deeper Look Into The Uniswap Protocol

Rebecca Duthie Rebecca Duthie 01.06.2022 12:06
Summary: What is the Uniswap Protocol and how does it work? Advantages of the Uniswap exchange. Uniswap’s past, present and future price positions. Read next: Altcoins: What Is Avalanche (AVAX)? A Deeper Look Into The Avalanche Platform | Rebecca Duthie  Uniswap protocol Uniswap is an automated liquidity provider that operates on the Ethereum blockchain, Uniswap is also supposed to make it easier for users to exchange Ethereum (ERC-20) tokens. The Uniswap protocol does not have a central facilitator (intermediary) nor an orderbook, instead tokens are exchanged through liquidity pools that are defined by smart contracts. Uniswap is the largest decentralised exchange (DEX) on the Ethereum blockchain. It acts as a medium of exchange for people anywhere in the world wanting to trade cryptocurrencies without a need for an intermediary. UNI is Uniswaps governance token, owning these tokens allow users to vote on any key changes. Uniswap is also one of the largest cryptocurrencies on Coinbase, in terms of market capitalization. Uniswap was one of the first decentralised exchanges to gain any significant grip on Ethereum, and has remained one of the most popular ones. The current market capitalization of Uniswap is more than $4 billion, it has a maximum supply of 1 billion tokens and there are currently almost 719 million tokens currently in circulation. Uniswap is powered by the Automated Market Maker model, this works by users supplying Ethereum tokens to Uniswap’s liquidity pools, thereafter algorithms set market prices based on the laws of supply and demand. An Automated Market Maker model allows users to trade digital assets automatically and without permission through the use of liquidity pools instead of using a traditional market of buyers and sellers. By supplying tokens to the Uniswaps liquidity pools, users can earn rewards whilst simultaneously enabling peer-to-peer trading (users supply tokens to liquidity pools, create and list their own tokens or trade tokens). There are currently many tokens available on uniswap, and many are popular trading pairs, such as USDC. Security of Uniswaps protocol UNI is an ERC-20 token, which means it requires Ethereum to continue to function. ERC-20 defines a certain set of rules for tokens, as well as security considerations that are related mainly to the strength of the Ethereum network. Uniswap is secured by the Ethereum blockchain. Advantages of Uniswap protocol Self-governing: no funds are ever transferred to a third party, there is no counterparty risk because both parties are trading directly from their trading wallets. Global and permissionless: there are no restrictions or borders on who can trade on Uniswap. Anyone who has internet connection and a smartphone can participate. Thanks to its user-friendly design, the Uniswap platform is easy to use. No account sign up or personal details are required. It is possible to swap ERC-20 tokens on the Uniswap platform. It is fast to trade any digital assets compatible with Ethereum, and seeing as quite a few cryptocurrencies are created on Ethereum there are quite a few available for trading on this exchange. It is possible to earn interest on Uniswap by staking tokens, through staking cryptocurrencies into Uniswaps liquidity pools, users can become a liquidity provider. Uniwaps charges fees on each crypto trade, and distributes that fee amongst liquidity providers. Because to connect to Uniswap users need an Ethereum wallet, Uniswap indirectly offers cryptocurrency wallet support to all the wallets Ethereum supports. Factors that make Uniswap unique To enable community ownership over the Uniswap protocol in their path to complete the decentralisation process, Uniswap created the UNI token. In September of 2020, Uniswap released its UNI token, the token was released using a unique form of distribution, it “airdropped” 400 UNI tokens to each Ethereum address that had ever used the Uniswap protocol. Over 250,000 Ethereum addresses received the airdrop, which was worth almost $1,400 at the time. Buying Uniswaps UNI token Uniswaps UNI is available for trading on many of the larger exchanges against other cryptocurrencies, stablecoins, fiat currencies and more. Past, Present and future prices of UNI Since its launch in 2020, UNI has seen a lot of volatility. The first few months after launching, (beginning of 2021) the price began to rise, reaching above $40 per token by during the second quarter of 2021. Since its peak, the price of UNI has been on a steady trend downwards. It is now around the same level as when it launched. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, evidently, Uniswap falls under this category. According to some analysts the future price of UNI could reach up to $44 by 2027. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. UNI Price Chart Read next: Altcoins: Bitcoin Cash (BCH), What Is It - A Deeper Look Into Bitcoin Cash  Sources: finance.yahoo.com, coinmarketcap.com, coinbase.com, uniswap.org, fool.com, changelly.com
NFT As A Part Of Final Fantasy VII Anniversary Celebration

UFC x NFT (Non-fungible Tokens)!? OpenSea's Sales Might Disappoint. LinksDAO Collaborates With Callaway Golf Company | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 01.06.2022 16:37
Golf Brand Callaway joins LinksDAO as equity investor. Free-to-mint Goblintown NFT collection is capturing millions in sales. ‘UFC x Gian Galang’ NFT collection available exclusively on Crypto.com NFT. Key Takeaways Non-fungible token (NFT) country club LinksDAO has brought Callaway Golf Company in on its quest to own and operate an actual golf course. Callaway is one of the largest golf equipment manufacturers and owner of driving-range game Topgolf. Mysterious free-to-mint Goblintown NFT collection is capturing millions in sales. The NFT project, consisting of 9,999 goblins, has recorded US$22.85 million in sales this week, surpassing Otherdeed’s US$20.73 million.  The Ultimate Fighting Championship presented the first-ever artist collaboration—the ‘UFC x Gian Galang’ collection. The debut collection, featuring Israel Adesanya, Valentina Shevchenko, and Conor McGregor, will be dropped exclusively on Crypto.com until 2 June. LooksRare recorded -11% and -33% decreases in sales and transactions, respectively. OpenSea‘s sales volume dropped by -15%, while its transaction count rose +17%. Crypto.com NFT in the Spotlight Sheepfarm in Meta-land: a P2E project built on the Klaytn network. It allows players to own metaverse pastures and run their own farm, from which they can profit by raising sheep. A total of 99 Aurora Boxes are being dropped on 1 June, each containing a redeemable NFT (redemption period will end on 1 July 2022). Crypto Ciber Pirates #3: the third and last drop of the “Crypto Ciber Pirates” collection, which includes headdresses and tattoos and will be launched on Tuesday, 7 June. Highlights NBA star Ben Simmons buys Otherdeed #19191 for 50 ETH Nigeria’s NFT marketplace Ayoken secures $1.4M to expand venture Prada joining top luxury brands in Web3 with Ethereum NFTs EuroLeague basketball dives deeper into Web3 with video NFTs Vitalik Buterin presents future of Ethereum and NFTs: introducing Soulbound tokens Moonbirds NFTs drained in US$1.5M phishing scam Thomas Edison inventions to become NFT collection ‘NFL Rivals’ – the upcoming American football NFT game How FanTiger plans to shake up the music industry through NFTs Hacker tastes own medicine as community gets back stolen NFTs Chinese stock image agency VCG tests NFT marketplace Aussie ‘Boy & Bear’ launch NFTs in collaboration with Amex  OpenSea redesigns parts of its NFT store as sales continue to slump Transaction Volume Benchmark     Top Collectibles     The following chart shows selected top NFTs and their historical floor prices. Upcoming NFT Sales The following table shows the top upcoming NFT sales and a sample of their art. Project Name Sale Date Price Items Market Cap  Sample Martizens 15 June 2022 2.50 (ETH) 10,000 25,000 (ETH) Chilliens 23 June 2022 0.50 (SOL) 5,000 2,500 (SOL) Miningverse NFT 2 July 2022 0.25 (ETH) 10,000 2,500 (ETH) Naked Panda Crew 8 June 2022 1.80 (SOL) 3,888 6,998 (SOL) Pepe Frens 10 June 2022 200.00 (CRO) 750 150,000 (CRO) * Sources: Rarity Tools, Crypto.com Top Artists The following table shows selected top artists (by sales volume on each platform) and a sample of their art. Platform Artist Sales Volume (USD) Sample Crypto.com NFT Loaded Lions $334,800 Magic Eden Trippin’ Ape Tribe $7,470,426 OpenSea goblintown.wtf $22,972,950 Tags CRYPTO CRYPTO RESEARCH CRYPTO.COM RESEARCH CRYPTOCURRENCIES MARKET NFT UPDATE Source: crypto.com
Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 01.06.2022 22:01
Apecoin (APE) has been moving upwards since May 12 and has so far created one higher low in the process.   APE has been falling since reaching a high of $27.60 on April 28. Initially, the price bounced at the $14.70 horizontal area, seemingly validating it as support (green icon). But, the upward movement was unsuccessful and the price broke down the next day.        The breakdown was also combined with an RSI decrease below 50 (red icon). Such RSI movements are considered signs of bearish trends. As a result, an RSI increase above 50 would be required in order for the trend to be considered bullish. So far, the price has reached a low of $5.17 on May 11. It has increased slightly since and is currently trading at $6.70. APE/USDT Chart By TradingView Future movement Crypto trader @MTI_Trading tweeted a chart of APE, stating that despite the increase, the price is still facing significant resistance at $8. Source: Twitter A closer look at the six-hour chart shows that the price has been following a descending resistance line since May 9. The line rejected it on May 31. Additionally, APE has already created one higher low (green icon).  The main resistance area is between $7.70 and $8.30. This is the 0.5 – 0.618 Fib retracement resistance area. Additionally, it coincides with a horizontal area that previously acted as support. The area is now expected to act as resistance.  So, even if APE were to break out from the resistance line, there would be strong resistance all the way up to $8.30. The six-hour RSI is at 50, which is considered a neutral reading. So, it does not assist in determining if APE will break out or not. APE/USDT Chart By TradingView APE wave count analysis The downward movement since the April high resembles a five-wave decrease. So, it is possible that the ongoing bounce is part of an A-B-C corrective structure.  If so, the price could increase to $11, giving waves A:C a 1:1 ratio. Though, if this is the correct count, it would mean that another downward movement would eventually follow. APE/USDT Chart By TradingView For Be[in]Crypto’s previous bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   Source: BeInCrypto
Shiba Inu (SHIB) Creates Double Bottom Pattern After Bounce From May Lows | BeInCrypto

Shiba Inu (SHIB) Creates Double Bottom Pattern After Bounce From May Lows | BeInCrypto

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 01.06.2022 22:04
Shiba Inu (SHIB) has increased by 30% since its May 12 bottom and created its first higher low in the process.   SHIB has been falling since reaching an all-time high price of $0.000088 on Oct 28. Initially, the price bounced at the $0.00002 horizontal area. This is an important level since it had previously acted as resistance during the May 2021 old all-time high.    While SHIB bounced at first, it eventually broke down in May. The $0.0002 area is now expected to provide resistance once more. Besides the breakdown, the RSI has also fallen below 50 (red icon), which is considered a sign of a bearish trend. If the downward movement continues, the next closest support area would be at $0.0000065. The area has not been reached since last Sept. SHIB/USDT Chart By TradingView SHIB double bottom The daily chart shows that in the period between May 12 and 29, the price created a double bottom. This is considered a bullish pattern, meaning that it often leads to bullish trend reversals.  Additionally, the pattern was combined with bullish divergence in the RSI (green line). This in turn makes the pattern more meaningful.  If the upward movement continues, the first significant resistance area would be at $0.000017, the 0.382 Fib retracement resistance level. SHIB/USDT Chart By TradingView Short-term breakout SHIB enthusiast and holder @army_shiba tweeted a chart which shows an ascending triangle. He suggested that the price could soon break out. Source: Twitter While it took longer than anticipated, SHIB did eventually break out on May 29 after creating a descending wedge. After the breakout, the price reached a high of $0.0000123 but was rejected by the $0.0000125 resistance area. If the price manages to reclaim this resistance area, it could continue increasing until $0.000014. This would take it to a horizontal resistance area that also coincides with the top of the wedge. SHIB/USDT Chart By TradingView For Be[in]Crypto’s previous bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   Source: BeInCrypto
With the Addition of New Cryptocurrencies, B2Broker Now Offers 150 Cryptocurrency CFD Pairs | B2Brokers

With the Addition of New Cryptocurrencies, B2Broker Now Offers 150 Cryptocurrency CFD Pairs | B2Brokers

B2Brokers Group of Companies B2Brokers Group of Companies 02.06.2022 11:16
With the Addition of New Cryptocurrencies, B2Broker Now Offers 150 Cryptocurrency CFD Pairs The B2Broker team is excited to announce the addition of new cryptocurrencies to its already impressive lineup. With 150 cryptocurrency CFD pairs now available, there are plenty of new coins to choose from, including FTT, MANA, AAVE, COMP, SNX, APE, QTUM, THETA, KSM, and YFI. All of these coins are paired with USD, so you can trade with confidence no matter which one you choose. Providing comprehensive services and instruments to our clients is always a top priority for B2Broker, and this expansion is yet another example of our dedication to meeting your needs. Adding new crypto pairs to our CFD instrument portfolio provides our clients with more opportunities to trade and take advantage of market conditions. These new pairs also offer the same high level of liquidity and tight spreads that our clients are used to, as well as a deep order book for added convenience. As a result of these additional pairs, we expect our clientele's market trading opportunities to be further expanded. We've reached a new milestone as a team, and we're proud to announce that we now offer 150 pairs of crypto CFDs. This is the best liquidity on the market, and our clients will benefit greatly from the new level of service. We're dedicated to providing the best possible service to every client, and we're grateful for your support. In the world of forex and crypto, B2Broker is a major player. The company has been around for eight years and counting, providing top-tier technology and liquidity solutions to clients of all sizes. Thanks to its sophisticated liquidity solution, B2Broker has become one of the most successful firms in the industry. Here at B2Broker, we're committed to providing our clients with the best technology and customer service available so they can reach their goals. Are you looking for a 24/7 solution in the cryptocurrency market? Our company offers 24-hour liquidity and support to our users, so you can always count on us. Whether your users are trading early in the morning or late at night, our support team will be there for you every step of the way. We continuously enhance our services to keep up with our clients' evolving needs, so you can be confident that we're always at the forefront of the industry. With our competitive and unique offers, we're sure that we can provide the best service for you. Contact us today to get started. In our latest video, B2Broker CEO Arthur Azizov and Head of the Dealing Division John Murillo provide an inside look at what we do at B2Broker and the value we bring to our clients. They also share their insights on the current state of the industry. Check it out now!  
Crucial Upcoming PMI Data and High-Stake Meetings Shape China's Economic Landscape

How Have (BTC/USD) Bitcoin Price, Gold Price And Stocks Been Doing This Week? | BeInCrypto

BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. BeInCrypto (BeIn News Academy Ltd), we're writing about crypto. 03.06.2022 13:07
Be[in]Crypto brings you an overview of this week’s price movements for bitcoin (BTC), gold, and our stock pick, GameStop.     BTC While an improvement over the prior two weeks, bitcoin has been struggling to maintain a $30,000 baseline. Trading just below $29,000 on May 19, BTC rose above $30,000 the next day, but swiftly returned below. Over the next two days it trickled upward, before accelerating up to $30,000 by May 24. Hitting resistance again, it dropped back down to $29,000 and failed to recover over the next few days, eventually slipping further down to $28,250 by May 27. While it rose a bit over the following days, BTC spiked on May 30, reaching $32,000 by May 31. Once again, BTC plummeted from there to $29,000 by June 2 and is now trading around $30,000.     Bitcoin’s rise to $32,000 was a result of markets responding to the relaxation of COVID-19 restrictions in China, in addition to the possibility that the Federal Reserve could loosen its hawkish stance later this year. “Bitcoin’s price action today is not entirely surprising,” said Joe DiPasquale, the CEO of crypto fund manager BitBull. “Not only is it facing pressure from traditional markets, it has also been struggling to breach the resistance zone between $31K-$32K, resulting in a breakdown from the range it set over the weekend.” GOLD The gold price has fared well over the past two weeks. Trading around $1,810 on May 19, it then shot up to $1,845 later that day, before rising even further to $1,865 by May 23. While sinking a bit from there, gold rose a bit higher by May 24 before sinking a bit back to $1,845. Over the next few days, gold reached $1,855, then dropped down further to $1,830 by June 1. However, over the past day, it has surged and is now trading around $1,865.  Gold prices rose yesterday bolstered by a dip in the dollar and data showing U.S. private payrolls rose less than expected last month. “[The job data] is really raising the recession concerns that have been brewing in the market and supporting gold,” said Ryan McKay, commodity strategist at TD Securities. According to ADP National Employment Report data, private payrolls rose by 128,000 jobs last month against a forecast for an increase of 300,000 jobs. GME GameStop shares have trickled down over the past two month, but have surged over the past week. At the beginning of April, GME dropped from $190, and had fallen to $140 by April 18. Despite a brief recovery, it continued to trickle down, hitting $115 by May 1. While maintaining around $120 the next few days, it continued to fall and hit $80 by May 11. It then shot up the next day to nearly $110 and traded between $100 and $90 until May 25. From there it shot up to nearly $150 on May 26, and while it has fallen a bit since then, it is currently trading around $135. During its latest financial results, GameStop reported sales of $1.378 billion, up from $1.277 billion during the same period last year. The company said that new and expanded brand relationships have helped boost sales, in what is likely a reference to its crypto efforts. CEO Matt Furlong said in the earnings call: “We firmly believe that digital assets are core to the future of gaming,” giving a clear indication that the company is going to double down on its digital assets strategy. GameStop will release its highly anticipated NFT marketplace in the second quarter of the year, which should inject a lot of life into the company’s business, having seen a resurgence since last year’s stock incident.  Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   Source: BeInCrypto
Altcoins: Decentraland (MANA), What Is It? A Deeper Look Into The Decentraland Platform

Altcoins: Decentraland (MANA), What Is It? A Deeper Look Into The Decentraland Platform

Rebecca Duthie Rebecca Duthie 03.06.2022 17:24
Summary: What is the Decentraland Platform and how does it work? Advantages of the Decentraland exchange. Decentraland’s past, present and future price positions. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM The Decentraland platform Decentraland defines itself as a virtual reality platform, it is powered by the Ethereum blockchain which allows its users to experience, create, and monetise applications and content. In this virtual world, users can buy plots of land and monetise them by navigating and building upon them. The Decentraland platform was launched in 2017 which came in the wake of a $24 million initial coin offering (ICO) and opened to the public in February 2020. Since the platform became available users have shown creativity by creating a wide range of on their plots of land using interactive experiences, including 3D scenes and interactive games. Decentraland was launched with the unique premise of offering users an entirely virtual world that they own, operate, and where they can trade. The platform is based on innovative blockchain architecture that uses virtual reality (VR) along with open-source technologies that empower its users. Decentraland uses two tokens, MANA and LAND. MANA is an ERC-20 token that requires being burned in order to gain non-fungible ERC-721 LAND tokens (NFTs). MANA tokens can be used by users to buy a range of wearables, avatars, names and more on the Decentraland marketplace. Key features and takeaways of Decentraland Decentraland is one of the top 100 cryptocurrencies in the world, and MANA, is one of the most popular cryptocurrencies in the market. Some of the features and key takeaways are: Re-create a free-market economy that is located in virtual space through the use of blockchain technology. The avatar passport is connected to a cryptocurrency wallet, however, it is not possible for users to upload 3D custom models as avatars on Decentraland. Users have the opportunity to build completed environments and scenes on the Decentraland platform, with the platform offering its users with a scene pool that contains various members' contributions. Tradeable real estate was one of the primary use cases for Decentraland. All items that are featured on Decentraland come with a pre-expiry date, therefore, are perishable. Decentraland’s Uniqueness The Decentraland platform was built to meet the needs of content creators, individuals and businesses who are looking for a new artistic medium, business opportunity or source of entertainment. The Decentraland gameword or the “Metaverse” is divided amongst 90,601 plots of LAND, each of which is represented by an ERC-721 non-fungible token. Each piece of land can be found in the metaverse using a specific coordinate. LAND holders are free to design their plots as they please, however, most of the Metaverse is divided into districts, each with a different theme and size. These districts were generated through individual crowdsales for the MANA tokens, and plots in this LAND are not tradeable. Decentraland is also one of the growing projects to use a decentralised autonomous organisation (DAO) governance decision structure. Therefore MANA token holders are in control of what happens in the Decentraland world through proposing and voting on policy changes, specifics on any LAND auctions and the type of content that is allowed with the Metaverse. In addition to being a creative outlet, often Decentraland users monetize their LAND through leasing, advertising and paid experiences. At the same time, other users generate an income by creating and selling items on the Decentraland marketplace in exchange for MANA tokens. Advantages of Decentralands Platform The Security Advisory Board (SAB) backs the Decentraland community governance. There is an option for users to auction NFTs and sell their LAND in exchange for MANA. Decentraland tokens have several use cases. The platform is being continually updated to ensure that there are new features being introduced to the protocol. Past, Present and Future Prices After the launch of the Decentraland network, the price took almost 3 years to take off, and has since risen quite substantially. The price rose substantially in the second half of 2021 and peaked at the start of 2022, however, has since fallen consistently. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Decentraland falls under this category. According to some analysts the future price of MANA could reach up to $22.9 by 2026 and almost $100 by 2031. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. MANA Price Chart Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Sources: finance.yahoo.com, capital.com, sashares.co.za, coinmarketcap.com, decentraland.org
Memecoins: Holding DOGE? How Can It Affect Dogecoin Price (DOGE/USD) | FXStreet

Memecoins: Holding DOGE? How Can It Affect Dogecoin Price (DOGE/USD) | FXStreet

FXStreet News FXStreet News 06.06.2022 16:00
Dogecoin price is struggling to break out but shows a decent probability of a bullish move. Investors should expect a volatile 18% move as on-chain metrics also suggest the same. A four-hour candlestick close below $0.076 will invalidate the bullish thesis. Dogecoin price continues to coil up, hinting that a volatile move is on its way soon. Adding evidence from on-chain metrics leans the scales favoring bulls. Dogecoin price and bullish narratives Dogecoin price shows a descending triangle formation by connecting the four lower highs and three equal lows formed since May 12 using trend lines. This technical formation forecasts an 18% move obtained by adding the distance between the first swing high and the swing low to the breakout point. While a descending triangle has a bearish bias, the recent recovery actually suggests a potential for bullish recovery. Adding credence to this outlook is that price has flipped the $0.082 resistance barrier into a support floor. Investors need to wait for a decisive four-hour candlestick close above $0.087 to confirm a bullish breakout. Once this development occurs, the theoretical target lies at $0.100, obtained by measuring the distance between the first swing high and swing low to the breakout point at $0.087. Despite a bullish breakout, DOGE needs to overcome the $0.093 hurdle to reach its theoretical target. In some cases, this move could extend to $0.101. Supporting this bullish outlook for Dogecoin price is the increase in the number of addresses holding DOGE for more than a year. The count of these market participants has increased from 1.74 million on May 8 to 2.49M as of June 5. This 43% spike in long-term investors indicates that these buyers are confident in the bullish performance of the Dogecoin price. Regardless of the bullish technicals and on-chain metrics, a correction or sell-off in Bitcoin price could stop or hinder bulls’ plans dead in their tracks. Investors need to be cautious about a sudden reversal in Dogecoin price that produces a four-hour candlestick close below $0.076. Such a move would constitute a bearish breakout from the descending triangle and invalidate the bullish thesis. In such a case, the theoretical forecasts reveal an 18% crash to the $0.062 support floor.  
What Would You Say If ETH/USD Declined To $1.6K? Bitcoin Price (BTC/USD) - Is $20K That Impossible!? | Geco.one

What Would You Say If ETH/USD Declined To $1.6K? Bitcoin Price (BTC/USD) - Is $20K That Impossible!? | Geco.one

Geco One Geco One 06.06.2022 15:49
Looking at the Bitcoin quotes, we notice that the exchange rate of the oldest virtual currency has been in the horizontal trend for four weeks between the technical support of $28,500 and the resistance in the region of $32,000. Even though we observed quite a clear upward rebound at the beginning of the new week, in practice, it does not change anything at all - no key level of resistance was broken. From a technical point of view, Bitcoin continues to consolidate, which is a form of correction after previous declines. Due to this fact, the potential for short-term increases remains quite limited. Bitcoin may limit its appreciation to a region of technical resistance of $32,000. In practice, only a permanent break above this level could open the door to higher gains in the area of ​​$34,500 or even $36,900. While the market stays inside the consolidation, the breakout is statistically more likely to be low, which would mean a further decline to around $24,000 or even further toward $20,000. Looking at the Ethereum quotes, we notice that the price of this cryptocurrency has been moving inside a parallel downward channel for nearly four weeks. Although the recent sell-off has already halted around the horizontal support of $1720 and therefore did not re-test the bottom-end of the pattern, increases since last Saturday could soon re-test the downward trend line at the top of the set. However, suppose supply pressure reappears around this resistance. This barrier could be rejected again, naturally supporting a fallback to $1720 or even further to $1600, where the channel's lower boundary trend line runs. Looking at the Litecoin quotes, the price of this cryptocurrency fell between 30 March and 12 May 2022 by over 61%, increasing ongoing depreciation to almost 83%. In turn, counting from the historic peaks in May 2021, the LTC price has dropped by over 87%. Such a significant sale meant that on 12 May this year, LTC costs only $52, which was the lowest price level since November 2020. The demand reaction that appeared around this support turned out to be very small concerning the dynamics of the previous downward movement. The consolidation observed for almost four weeks may be only another temporary correction in the downward trend. The LTC rate will return downward, slipping towards $50 or even $39. Nevertheless, in the context of the short-term outlook, there are some indications of a potential for slight increases. The rebound observed on Monday morning led to the defeat of local resistance in $64,50. This fact means that soon we could expect a continuation of this trend towards $69,50, or even further towards $74. We could also expect a short-term continuation of Avalanche (AVAX) trading gains. The exchange rate of this cryptocurrency broke on Monday morning above the downward trend line, which is the upper limit of the downward channel, which may naturally drive a further increase towards the next resistance. This one, however, is very close, already in the vicinity of $28,50. The nearest resistance has been tested recently, from the top (as a support) and the bottom (as a resistance). Moreover, this level coincides with the so-called The Golden Ratio, i.e. measuring 61.8% Fibonacci retracements from the earlier downward move, which may determine the emergence of more significant supply pressure in his area, which in turn could drive further declines. Watch full analysis here: https://youtu.be/yqOXmdSqL50 It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one
Altcoins: Algorand (ALGO), What Is It? - A Deeper Look Into The Algorand Platform

Altcoins: Algorand (ALGO), What Is It? - A Deeper Look Into The Algorand Platform

Rebecca Duthie Rebecca Duthie 06.06.2022 17:04
Summary: What is the Algorand Platform and how does it work? Advantages of the Algorand exchange. Algorand’s past, present and future price positions. Read next: Altcoins: Decentraland (MANA), What Is It? A Deeper Look Into The Decentraland Platform  Algorand Platform Algorand is a self-sustaining, decentralised, block-chain based network which supports many applications. The aforementioned systems are scalable, efficient and secure, all of which are critical for effective applications in the real world. In addition, Algorand supports computations that require reliable performance guarantees in order to create new forms of trust. Algorand claims to be the world’s most “decentralised, scalable, and secure blockchain infrastructure”. The Algorand platform is sustainable and is powering economic models of the future through generative NFT art (and everything that comes in between) and decentralised finance (DeFi). The Algorand platform is releasing scalability through the use of fusing TradFi and DeFi, and accelerating sustainability globally. Algorands mainnet went live in June 2019, and was able to process almost 1 million transactions per day as of December 2020. Algorand defines their mission as: creating global trust through the use of decentralisation, using simple designs that helps drive platform adoption and a platform that rids all barriers to prosperity for all. Algorand was created to improve efficiency and to speed up transactions, in response to the slower transaction times of Bitcoin and other blockchains. Algorand is designed with lower transaction fees and no mining, as it is based on a permissionless pure proof-of-stake (PoS) blockchain protocol. Algorand was the first ever permissionless proof-of-stake (PoS) protocol on the blockchain and its performance is nothing short of phenomenal. The platform is a smart contract platform that is similar to Ethereum, but has some key differences that make it more advantageous. Smart contracts allow economic disruptions and the creation of new business models across different industries with efficient and automated transactions and applications, allowing for a trustless execution of an agreement. ALGO is Algorands native token, it is also a cornerstone of its network structure. Another part of Algorand’s unique protocol design, the rewards that are paid to validators for producing blocks are paid to all ALGO holders, instead of only to the block producers. Thus, all ALGO coin holders can earn around 7.5% annual percentage yield from February 2021. There is currently a circulating supply of 6.9 billion ALGO, with a maximum supply of 10 billion. The current market capitalisation is more than $2.8 billion. Advantages of the Algorand platform Every token holder who has at least 1 ALGO token in their account can choose to participate, if they choose to participate they can be either randomly selected or selected to propose and add new blocks to the chain. The more one token holds, the more likely it is to be chosen to vote. If users wish to participate in a consensus, they only need to keep their ALGOs in their official wallets and declare their availability through a transaction, which is otherwise known as “Going Online” The proof-of-stake consensus used by Algorand and its advantages: makes it extremely safe due to the fact that a hacker is unable to see which block is beforehand, thus, making it impossible to trace and hack. It promotes decentralisation, due to it not needing any complex calculations, anyone is able to participate in the consensus process without needing any special equipment or high energy usage. The transaction takes around 5 seconds and has a fee of less than $0.001, it is both faster and cheaper than some other blockchains. Past, present and future prices of Algorand (ALGO) After the launch of the Algorand network, the price took off almost immediately, however, the spike in price was followed by a substantial fall. Since then the price took some time to rise again. The price rose substantially again towards the end of 2021 and peaked at the start of 2022, however, has since fallen consistently. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Algorand falls under this category. According to some analysts the future price of ALGO could reach up to $5.2 by 2026 and almost $30 by 2031. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ALGO Price Chart Read next: Altcoins: Uniswap Protocol (UNI), What Is it? - A Deeper Look Into The Uniswap Protocol  Sources: finance.yahoo.com, gemini.com, algorand.com, coinmarketcap.com
Bitcoin Is Showing The Potential For The Further Downside Rotation

Bitcoin Price (USD) Plunged! BTC/USD - Is It A Significant Loss!? "37% Of People Want Crypto To Be A Legal Tender!" | FxPro

Alex Kuptsikevich Alex Kuptsikevich 07.06.2022 09:13
Bitcoin rose 4.9% on Monday, ending at around $31.5K. However, on Tuesday morning, the first cryptocurrency collapsed 7% to $29.5K, the second such bear attack in the past seven days. Both were of similar magnitude, but the latter should have a more considerable negative effect. It more than offset Monday's gains and temporarily brought the price back to levels from May 30. The BTCUSD consolidation has been going on for more than a month. Earlier it was formed as a triangle with decreasing amplitude of fluctuations, but since the end of last month, it became more like a sideways pattern, from which it makes several failed attempts to break upwards. The market dynamics this Tuesday morning are a reminder that the market cannot now rally again as it did in 2020. Bitcoin's prolonged sideways slide is turning current prices into the norm, although current levels seemed like a good buy for the long term two months ago. 2018 and 2019 teach us that such consolidations can last for months and often lead to new selloffs from frustrated fast earners. In our view, the bitcoin bear market is not over yet, although it has made a significant part of its way down. The market is full of rumours that short-term buyers have already capitulated, backed up by Kathy Wood. But the whole bear market rarely ends at this phase. Far more often, a bull market begins when medium-term investors and even some long-term investors capitulate, bringing stressed market professionals into play. It is unlikely to reach this point before the price returns to the highs of 2017. Bitcoin's short-term volatility is irrelevant, MicroStrategy CEO Michael Saylor said. He said BTC is the surest thing in a very volatile world and is more suited to long-term investment rather than trading. According to a survey by The Economist, 37% of respondents in the world's leading economies are interested in having their governments adopt cryptocurrencies as legal tender.
Altcoins: NEM (XEM) What Is It? - A Deeper Look Into The NEM Platform

Altcoins: NEM (XEM) What Is It? - A Deeper Look Into The NEM Platform

Rebecca Duthie Rebecca Duthie 07.06.2022 17:54
Summary: What is the NEM Platform and how does it work? Advantages of the NEM exchange. NEM’s past, present and future price positions. Read next: Altcoins: Algorand (ALGO), What Is It? - A Deeper Look Into The Algorand Platform  The NEM Platform NEM or “New Economy Movement”, aims to provide a more efficient way to move blockchain assets and verify them for enterprise-level clientele. To this extent, the company functions as a sort of missing link between the public and private blockchains through connecting this network in ways that expand usability. Due to its unique business strategy and versatility, The NEM blockchain continuously sees growing interests. Using this new-era blockchain, it is easier for users to manage their assets and data. The blockchain has earned the nickname “Smart Asset Blockchain.” The NEM blockchain was launched in March of 2015. It was one of the more exploratory cryptocurrencies at the time, and aimed to improve on the inefficiencies of other blockchains at the time. NEM’s PoI consensus The NEM platform introduces a new consensus mechanism to the market, the Proof-of-Importance (PoI), this new consensus takes into account the time and amount of money users have invested in the NEM network. The Proof-of-Importance algorithm has the requirement that a user has more than 10,000 XEM vested in the system in order to generate new blocks. Users that are able to add new blocks to the NEM blockchain receive rewards and a portion of the transaction fees generated. The Proof-of-Importance network also rewards users for trading with other users in the NEM network. This information is taken by the Proof-of-Importance algorithm and is used to boost the users Proof-of-Importance score, every user has a PoI score, which is based on their overall participation and contribution. The Proof-of-Importance consensus mechanism has another crucial element attached to it, the harvesting protocol. This coding links the users accounts to an existing supernode, which are the backbone of the NEM system. Linked accounts allow these supernodes to utilize a strengthened Proof-of-Importance to increase the users’ chances of blockchain generation. Supernodes borrow a users Proof-of-Importance score linked to their account to complete blocks on the users behalf. This ensures the NEM remains secure without requiring all users to exert effort. Advantages of this harvesting protocol: Improved efficiency: Eigentrust++ is used by the NEM platform in order to maintain the reputational architecture of the Proof-of-Importance consensus. The protocol is able to monitor network nodes accurately to ensure only quality contributing nodes are part of the consensus system. The system removes any unused nodes on its own. Namespaces: NEM brings the concept of namespace into blockchain, which functions similarly to domain names that are on the internet, users are able to create and manage their own names on the NEM blockchain. This provides improved flexibility for both businesses and users. Multisignature transactions: this advantage is huge for the enterprise-level clientele. These users provide the admin with the ability to expand and monitor the network in order to meet the firm's needs. NEM makes it more simple for companies to monitor an accounts activity, create new tokens and control assets, such as XEM, from one account. Advantages of the NEM platform The platform is vital to mainstream adoption because it links some of the world's best blockchains. The firm’s focus is placed largely on large businesses which makes it an important cog in the gears of growth. The platform is packed with an API interface in order to maintain and keep agile and keep achieving market growth. The NEM users are able to customize how they allow the use and access of NEM. Open and self-scaling framework, which enables developers to distribute, trade cryptocurrencies through the NEM blockchain and create them easily. Past, present and future prices of NEM (XEM) After the launch of the NEM network, the price took off almost immediately, however, the spike in price was followed by a substantial fall. Since then the price took some time to rise again. The price began to rise again toward the end of 2020 and spiked again during the first half of 2021, however, has since fallen consistently to date. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, NEM falls under this category. According to some analysts the future price of XEM could reach up to $0.25 by 2026 and almost $1.26 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. XEM Price Chart Read next: Altcoins: Decentraland (MANA), What Is It? A Deeper Look Into The Decentraland Platform  Sources: finance.yahoo.com, cryptopolitan.com, securities.io, coinmarketcap.com, helsinkitimes.com
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Ethereum (ETH) Merge Is Coming! What Does It Mean?

Saxo Bank Saxo Bank 07.06.2022 18:45
Summary:  In August, Ethereum’s transition from proof-of-work to proof-of-stake known as the merge is expected to take place, and the first public test of the merge is set to occur tomorrow. The merge might be one of the most influential events in the history of crypto by impacting Ethereum both technically and economically. We look into the ways that the merge changes Ethereum. Since releasing the first Ethereum whitepaper in 2014, Ethereum’s developers have explicitly mentioned their desire to eventually adapt proof-of-stake instead of proof-of-work, but due to technical difficulties, it has not previously been feasible. Yet, Ethereum’s transition from proof-of-work to proof-of-stake - known as “the merge” - is now closer than ever. On the 8th of June, the first public test of the merge is set to occur subsequent to seven other minor tests. On this day, the existing test network Ropsten is set to perform a merge. If the Ropsten merge is successful, Ethereum will merge two other existing test networks, ahead of the actual merge. With this knowledge and insight from the Ethereum Foundation, it seems reasonable to consider that the merge will take place in August, considering that the tests turn out well. With the merge taking place in the near future, we look at the ways it changes Ethereum both technically and economically. From miners to stakers The most substantial change is the transition from proof-of-work to proof-of-stake, fundamentally changing by what method the network verifies transactions. Instead of tremendous computing power put at the network’s disposal by miners, holders of Ether are those to verify transactions. This means that holders have the option to lock their Ether as collateral to be able to verify transactions, in other words, stake their Ether. In return, they receive the transaction fees alongside the security cost. The latter is the newly issued Ether to financially encourage miners at this point in time, but it later goes to stakers for verify transactions. With proof-of-stake, the main security feature is that stakers can be slashed. In case the network determines that a staker has behaved unethically, for instance, tried to reverse transactions, the network can take some or all of their staked Ether. More environmentally friendly When adapting proof-of-stake, Ethereum reduces its energy consumption by around 99.95%. To understand why we must again consider the differences between the consensus mechanisms. With respect to Ethereum, a new block is currently finalized around every 13th second. In these 13 seconds, every miner fights to be the one to finalize the block. This involves applying computing power and thus requires electricity. However, in the end, it is solely one miner that finalizes the block and verifies the transactions, even though other miners have spent a tremendous amount of energy on the same block. In terms of proof-of-stake, one validator is randomly chosen to finalize a block based on one’s amount of Ether staked. This happens prior to the block, so no other staker is trying to finalize the same block, ultimately reducing Ethereum’s energy consumption by around 99.95%. Improved and fairer economics Because the energy required to verify transactions on Ethereum drastically decreases, the security cost can likewise decline massively. With proof-of-work, Ethereum’s security cost amounts to around 5.4mn Ether yearly. This means that 5.4mn new Ether gets issued yearly to the present supply of around 120mn Ether to encourage miners to verify transactions. At the time of the merge, the security cost declines to around 0.5mn Ether yearly being compensated to stakers. This is an extensive reduction in the inflation of Ethereum, which might even make Ethereum deflationary since the paid transaction costs are expected to outpace Ethereum’s security cost. With respect to transaction fees, a substantial part of these get burned, hence removed from the supply. Over time this might result in a supply shock because the market is used to absorbing 5.4mn newly issued Ether yearly but suddenly only around 0.5mn Ether is to be issued.One might also argue that proof-of-stake is economically fairer for holders of Ethereum than proof-of-work. With proof-of-work, you can technically verify transactions without holding Ether as long as you invest heavily in computing power. This means that holders are not compensated for the inflation and transaction fees, effectively diluting them. In the case of proof-of-stake, stakers are compensated fairly for the inflation and transaction fees. Not significantly more scalable, though By default, the merge does not make Ethereum significantly more scalable. If the merge turns out well, the merge decreases the block size from around 13 to 12 seconds but maintains the same block size. This ultimately leads to an increase in transactional output of 7.5% but not much more than that. Based on the present schedule, Ethereum will first significantly improve scalability sometime in 2023. It is intended that shard chains get implemented around here, which will massively improve Ethereum’s scalability and possibly require even less hardware to verify transactions. 12.8mn Ether to be unlocked later On December 1st, 2020, the proof-of-stake version of Ethereum went live, known as the Beacon Chain. The Beacon Chain is technically the one to be merged with proof-of-work based Ethereum when the merge occurs. The Beacon Chain has been finalizing empty blocks since it went live to ensure that it works as intended. To verify these blocks, Ethereum holders have been able to stake Ether on the Beacon Chain. Over 10% of the total supply of Ether, around 12.8mn Ether, is now staked on the Beacon Chain.However, by staking Ether on the Beacon Chain, the Ether has been locked. It was originally planned to unlock the staked Ether when the merge occurs, but to simplify the merge from a technical point of view, Ethereum’s developers have chosen not to unlock the staked funds at the time of the merge. The unlocking will likely follow 6 months after the merge, in which the 12.8mn Ether alongside the afterward staked Ether will be unlocked. The compensated security cost and transaction fees to stakers are likewise locked in these months. This means that presumably until next year no newly issued Ether nor transaction fees are expected to hit the circulating supply, potentially limiting selling pressure. On the other hand, when the staked Ether is unlocked, which is not unlikely to be above 15mn Ether at that time, it might result in severe selling pressure. More of the same The merge will not impact Ethereum by other substantial means. First, it is not planned to impact or require holders of Ether to take an active stance. The merge will occur without them noticing. Secondly, it should not influence tokens or decentralized applications presently utilizing Ethereum. This means that deployed tokens and smart contracts on Ethereum are planned to work like before the merge.Although Ethereum’s developers have worked on the merge for years, it can turn out bad or be further delayed. Just like everything else in crypto, there are simply no guarantees.   Source: What you need to know about the Ethereum merge | Saxo Group (home.saxo)
Layers 1 & 2 (Week 29, 19/07/2022 – 25/07/2022)

(SOL) Solana Network Stopped For A While, ETH Approaches The Merge, Cronos (CRO) Increased On Transactions | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 07.06.2022 19:36
Solana halted due to a bug. 1.4M addresses hold at least 1 ETH. Optimism’s airdrop hit turbulence. Key Takeaways The Solana (SOL) network was halted for four hours due to a bug related to durable nonce transactions. Despite this recent stoppage, Alchemy announced support for Web3 application development for Solana-based apps. Ethereum (ETH) adoption and accumulation grows ahead of the Merge, with 1.4M addresses holding at least 1 ETH. Optimism (OP) experienced a turbulent airdrop but earned Vitalik’s support for its new governance structure. Cronos (CRO) reached 45.09M total transactions, increasing +2.40% from last week. Highlights Terra confirms that some users received less LUNA than expected from the airdrop and is working on a solution Balancer launches on Ethereum Layer 2 network Optimism (OP) The Graph (GRT) poised to expand to Arbitrum in Layer 2 win Middle East oil producers move into Bitcoin mining with Crusoe Energy stakes Kenya’s largest power provider to offer geothermal energy to Bitcoin miners Ooki 2.0 is live on Ethereum with the latest features previously enabled on Layer 2 deployments Bifrost wins 18th Polkadot (DOT) ‘parachain’ slot to bring cross-chain liquid staking to PoS chains Cardano (ADA) users to explore Djed stablecoin trial on EVM sidechain: Details Zcash nixes trusted setup, enters new era with major network update LUNA 2.0 stakers to decide on future of Luna Classic (LUNC) and re-enable IBC Layer 1 Project Metrics     Layer 2 Project Metrics     Tags APECOIN CRYPTOSAT ETHEREUM BEACON CHAIN FRANK MCCOURT GAVIN WOOD HUBEI INJECTIVE LUNC OPENETHEREUM OPTIMISM FOUNDATION ROPSTEN BEACON CHAIN SILENT PAYMENTS TERRA CLASSIC WORMHOLE
Altcoins: ZCash (ZEC), What Is It? - A Deeper Look Into The ZCash Platform

Altcoins: ZCash (ZEC), What Is It? - A Deeper Look Into The ZCash Platform

Rebecca Duthie Rebecca Duthie 08.06.2022 16:38
Summary: What is the ZCash Platform and how does it work? Advantages of the ZCash exchange. ZCash’s past, present and future price positions. Read next: Altcoins: NEM (XEM) What Is It? - A Deeper Look Into The NEM Platform  The ZCash Platform ZCash is a decentralised cryptocurrency that places its focus on anonymity and privacy. The ZCash exchange uses the zero-knowledge (zk-SNARK) proof of technology, which allows the nodes on the network to verify transactions without revealing any sensitive information regarding those transactions. Although making transactions on the ZCash platform still requires being relayed through a public blockchain, ZCash does not reveal the receiving and sending addresses or the amount being transacted. However, if desired by the user, this information can be revealed on request for auditing or regulatory compliance needs. ZCash was first released in October of 2016, and was originally based on the Bitcoins (BTC) codebase. ZCash has four types of transactions, Public (t-to-t): occurs between two transparent addresses. Shielding (t-to-z): occurs between a t-address(sender) and a z-address (receiver), transaction is private on the z-address but public on the t-address. Deshielding: (z-to-t): occurs from t-address to z-address, the transaction is private on the z-address but public on the t-address. Private (z-to-z): occurs between a t-address and a z-address, all aspects of the transaction are not visible to the public, only recording that a transaction did occur. All transactions of Zcash are recorded on the Zcash blockchain. Zcash can be purchased on cryptocurrency exchanges and stored in a Zcash wallet or any other regulated exchange crypto wallet. The current market valuation for ZEC is more than $1.325 billion, with a circulating supply of more than 14.5 million ZEC and a maximum supply of 21 million ZEC tokens. The funding of new ZECs is done through “block rewards”, this means that when a new block is mined, it is added to the end of the blockchain, thereafter, coins are minted and split in a 80:20 ratio, 20% into a founders reward and 80% into a miners reward. As the maximum limit of 21 million ZEC is being approached, the block reward is halved after every four years in an attempt to slow the issuance rate. ZCash uniqueness One of the main advantages of the ZCash platform is its optional anonymity, which gives ZCash a level of privacy that is unattainable with regular, pseudonymous cryptocurrencies, like Ethereum or Bitcoin. ZCash transactions can be sent in 2 ways, either shielded or transparent. The transparent transactions work in pretty much the same way as in Bitcoin, whose codebase ZCash was based on originally, the transactions are sent between public addresses and thereafter are recorded in a public ledger (the blockchain). All information that is essential is available online for anyone to see, this includes the amount that was sent and both the sending and receiving addresses. The transparent transactions don’t directly reveal user identities, the only identifiers an outsider to the platform are the public addresses. Shielded ZCash transactions leverage the zero-knowledge technology condensed non-interactive knowledge arguments, zk-SNARKs, this technology allows the anonymity of transactions over a public blockchain. The fact that the transaction has occurred is recorded in the ledger, but the amount, sending and receiving addresses are not revealed to the public. Therefore ZCash users can enjoy a decentralised, permissionless currency whilst maintaining their right to privacy. Advantages of the ZCash Platform Low-rate transactions. The anonymity of users’ transactions metadata. Selective disclosure of payment data to a third party. Transaction expiration. Multi-signature transactions Past, present and future prices of ZCash (ZEC) After the launch of the ZEC network, the price took off almost immediately, however, the spike in price was followed by a gradual but substantial fall. Since then the price took some time to rise again. The price began to rise again toward the middle of 2021 and spiked again during both the first and the second half of 2021, and has since seen quite a lot of volatility. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ZCash falls under this category. According to some analysts the future price of ZEC could reach up to $520 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ZEC Price Chart Read next: Altcoins: Algorand (ALGO), What Is It? - A Deeper Look Into The Algorand Platform  Sources: finance.yahoo.com, coinmarketcap.com, cryptonewsz.com, corporatefinanceinstitute.com
Altcoins: Axie Infinity (AXS), What Is It? - A Deeper Look Into The Axie Infinity Platform

Altcoins: Axie Infinity (AXS), What Is It? - A Deeper Look Into The Axie Infinity Platform

Rebecca Duthie Rebecca Duthie 09.06.2022 13:42
Summary: What is the Axie Infinity Platform and how does it work? Advantages of the Axie Infinity exchange. Axie Infinity’s past, present and future price positions. Read next: Altcoins: ZCash (ZEC), What Is It? - A Deeper Look Into The ZCash Platform  The Axie Infinity Platform Axie infinity is a trading battling game that is block-chain based and is partly owned and partly operated by its players. The Axie Infinity platform was inspired by popular games such as Tamagochi and Pokemon, and allows users to breed, raise, collect, battle and trade token-based creatures that are called Axies. The Axie Infinity platform is Ethereum based. These Axies can take various forms, and there are more than 500 different body parts that are available on the platform. Each different part comes with a different rarity scale, from common, rare, ultra-rare and legendary. Axies can have any combination of body parts, making them highly variable and often rare and unique. Each Axie is a non-fungible token (NFT) each with different strengths and attributes and can be entered into 3v3 battles with the winning team earning more experience (exp) points, these experience points can be used to level up the stats or evolve the body parts of an Axie. These Axie’s can be bred together to create new and unique offspring, which can either be used or sold in the Axie marketplace. The Axie Infinity ecosystem also has their own unique governance token called the Axie Infinity Shards (AXS). These AXS are used in key governance votes and allow users an opportunity to have a say in how the funds in the Community Treasury are spent. Axie Infinity Shards (AXS) Axie Infinity describes their Axie Infinity Shards (AXS) as “the glue that binds all Axie community members together. AXS holders are able to claim rewards if they stake their tokens, participate in key governance votes and play the game. Players are also able to earn $AXS when they play different games within the Axie Infinity universe and through user generated content initiatives. Axie infinity also allows staking, players are able to lock up their tokens to receive AXS that have been newly created. Stakers are also required to vote and play to claim rewards. AXS is also accepted as a form of payment within the Axie Infinity Marketplace. AXS may also be used to determine eligibility for sales/auction participation conducted by the Axie team. In early 2021, the community treasury went live, and began to receive revenues that were generated by Axie Infinity as well as a portion of staking rewards. This treasury is governed by the AXS stakers once the network has become decentralised sufficiently. Axie Infinity (AXS) has a current circulating supply of more than 63.5 million AXS, with a maximum supply of 270 million tokens. The current market capitalisation of AXS is more than $1.25 billion. Advantages of the Axie Infinity Platform Gameplay based on trading and battling: The Axie infinity game’s graphical user interface and its general appealing appearance and feel are actually quite simplistic. The play-to-earn feature gives it the upper hand and makes it an appealing game title. Players can earn the Ethereum-based tokens AXS by fighting or breeding Axies, which can then be exchanged into Ether and utilised as real-world money. Axies are NFT’s: When a player owns numerous Axies, it is the equivalent of he or she is effectively owning a collection of digital goods with real monetary worth. These Axies can be bought and sold on the open market. Complexity and future development: the game is difficult and is constantly being developed. Runs on Desktop and mobile operating systems, Axie Infinity is compatible with most desktop and mobile operating systems (Android and IOS). The video games cross-platform blockchain interoperability makes Axie Infinity accessible to a wide range of people, thus, allowing it to draw more players and extend future growth possibilities. Play-to-earn and the blockchain economy. Past, present and future prices for Axie Infinity (AXS) After the launch of the Axie Infinity network, the price took almost 6 months to take off, the spike in price that occurred in 2021 saw the price go above $125, and was followed by a gradual but substantial fall. Since then the price has not risen noticeably again. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Axie Infinity falls under this category. According to some analysts the future price of Axie Infinity (AXS) could reach up to $89 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. AXS Price Chart Sources: coinmarketcap.com, finance.yahoo.com, axieinfinity.com, cryptonewsz.com, analyticssteps.com
Technical Outlook Of The Further Movement Of Bitcoin

Technical Analysis of BTC/USD for June 9, 2022

InstaForex Analysis InstaForex Analysis 09.06.2022 15:30
Relevance up to 14:00 2022-06-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: While New York State is pushing through a bill that will ban Proof of Work mining, members of the crypto community are voicing their opposition via social media. Jake Chervinsky, head of policy at the Blockchain Association, explained in a Twitter thread that the move would not "reduce carbon emissions" at all. According to Chervinsky, the mining ban will force New York miners to operate elsewhere where the state has no control over them. Chervinsky hopes New York Governor Kathy Hochul will veto the bill "for the sake of New York." The lawyer noted that the move sends a message that "crypto is not in a welcome state". Chervinsky added that if the law was implemented, it would be a political mistake on the part of the world's financial capital. In addition to Chervinsky, this was opposed by US Senatorial candidate Bruce Fenton. In a tweet, he said governments have no right to control the specific software that citizens use. He noted that "code is speech," implying that the ban is a movement against freedom of speech. Ethereum founder Vitalik Buterin also agreed with Fenton. Sharing his thoughts on the subject, Buterin said the government should not decide which uses are "okay" for electricity. He suggested introducing carbon prices. On June 3, a bill to ban mining was approved by the New York State Senate. After approval by the governor, the law will ban mining in the state and make it difficult to renew previously issued cryptocurrency mining permits. Technical Market Outlook: The range bounded trading conditions are still being developed on the BTC/USD pair, full of fake-outs and blow-outs and false movements. The market participants has still not decided whether the down trend should be continued or terminated and keep trading in a narrow range between the levels of $32,892 - $28,741. The first indication of the deeper correction would be a clear breakout above the range high located at the level of $32,892, however all the current attempts to rally are being faded and the Pin Bar candlesticks inside the range zone are present already.     Weekly Pivot Points: WR3 - $34,666 WR2 - $33,580 WR1 - $31,452 Weekly Pivot - $30,233 WS1 - $28,222 WS2 - $27,019 WS3 - $24,877 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support is seen at the round psychological level of $20,000.   Read more: https://www.instaforex.eu/forex_analysis/279285
Best Crypto To Invest In? Cryptocurrencies: Are BTC And ETH "Best Long-Term Investments"? Ethereum (ETH/USD) Decreased By 0.4%, Cardano (ADA) Lost 2.5% | FxPro

Best Crypto To Invest In? Cryptocurrencies: Are BTC And ETH "Best Long-Term Investments"? Ethereum (ETH/USD) Decreased By 0.4%, Cardano (ADA) Lost 2.5% | FxPro

Alex Kuptsikevich Alex Kuptsikevich 10.06.2022 09:06
Bitcoin was down 0.3% on Thursday, continuing to hover around $30K. This mild decline was a bonus of last month's loss of correlation between the cryptocurrency and stock markets. Ethereum lost 0.4%, settling near $1800. Other top-10 altcoins showed mixed dynamics, ranging from a 2.5% decline (Cardano) to a 3.6% rise (Solana). Financial market veteran Peter Brandt believes Ethereum is in a downward triangle and could fall to $1268 within a month. The total capitalisation of the crypto market, according to CoinMarketCap, fell 0.2% overnight to $1.24 trillion. The cryptocurrency fear and greed index were up 2 points to 13 by Friday and remains in "extreme fear" mode. Bitcoin has crossed the $30K mark almost daily over the past month, with no significant preponderance of buyers or sellers to form a clear trend. Generally, the correlation gap between cryptocurrencies and stock markets is long-term good news as it attracts the attention of professional investors. Weakness in equity and bond markets, sagging gold and the murky outlook for the real estate market are turning their eyes to cryptocurrencies as another tool in a diversified portfolio. CNBC's Mad Money host Jim Cramer has changed his mind about investing in cryptocurrencies, calling BTC and ETH the best long-term investments. However, they should not account for more than 5% of a portfolio. PwC, an audit firm, reported that most hedge funds invest less than 1% of their assets in cryptocurrencies because of regulatory uncertainty in the industry. According to a Deloitte survey, 75% of US retailers will implement support for cryptocurrency payments within two years. USDT, the world's most prominent staple by market capitalisation, will be available on the Tezos blockchain powered by the Proof-of-Stake consensus mechanism. The USDT ecosystem is now open on 12 networks, including Ethereum, Solana, Polygon, Tron and Algorand.
5 Cryptocurrencies That You Probably Forgot About - Take A Look At Shiba INU (SHIB), Kishu INU ($KISHU), Student Coin (STC), Chia Crypto (XCH), Safemoon (SFM)

5 Cryptocurrencies That You Probably Forgot About - Take A Look At Shiba INU (SHIB), Kishu INU ($KISHU), Student Coin (STC), Chia Crypto (XCH), Safemoon (SFM)

Rebecca Duthie Rebecca Duthie 10.06.2022 16:30
Summary: A summary of SHIB, $KISHU, STC, XCH, SFM Meme coins, Decentralised Finance, Platforms. Proof of work, proof of space and time. Shiba INU, the meme coin platform. SHIBA INU is a type of meme token. The platform is named after the japanese dog breed who has the same name. The price movements of meme coins are frequently linked to sentiment around breaking news and influencer activity on social media. Shiba Inu is a decentralised cryptocurrency, it runs on the Ethereum blockchain, giving the token the same functionality and safety of the Ethereum platform. ShibaSwap is Shiba Inu’s own decentralised platform for trading tokens. Shiboshis is Shiba Inu’s own non-fungible token (NFT), an NFT ownership basically means that when an investor buys an NFT they get to say they have ownership rights of an original copy of a digital file. Investors tend to enjoy following the Shiba Inu token due to its clever methods used to give high crypto returns. Read more on Shiba INU here: Meme coins: (SHIB) What Is Shiba Inu Token? Shiba Inu Coin Price. What Makes This Altcoin So Special? Clever Methods Used To Give High Crypto Returns  The Kishu Coin Platform. $Kishu, is a decentralised meme-coin that is community-focused, active users of the coin receive instant rewards. When users make a Kishu transaction, they receive a 2% reward in a decentralised wallet, thus, the more KISHU is used, the more rewards are granted to its users. The $KISHU coin’s smart contract has been audited and its LP (liquidity pool) tokens have been burnt. The smart contracts in KISHU Inu means the community and users are almost completely protected from any bad actors. Read more on the Kishu Coin platform here: A Reward For A Transaction!? What Is Kishu Inu Coin? ($KISHU) Let's Take A Look At This New Altcoin  The Student Coin Platform. According to the studentcoin.org website, Student coin is the first crypto coin that allows users to easily design, create and manage personal, start-up, NFT and DeFi tokens. The mission of Student Coin is to allow organisations and people to create, manage and develop their own tokens, they hope that through this platform they will achieve a concept called tokenization. The aim of Student Coin is to “enable scalability of startups in their early stages by creating an opportunity for numerous investors to engage through tokenization, which also contributes to increased visibility, customers, and the fundamental values.” Student Coin has many products namely, STC Terminal, STC Wallet, STC Staking, STC Voting, STC Academy, STC Exchange. All of which make up the basis of the Student coin platform Read more on the student coin platform here: Altcoins: What Is Student Coin (STC)? The First Of Its Kind! "Easily Design, Create And Manage Personal, Start-up, NFT and DeFi Tokens"! What Will The Future Hold For This Polish Crypto?  The Chia Crypto Platform Chia cryptocurrency is a type of crypto that aims to use the space already in circulation (proof of space and time), their mission statement aims to build a more sustainable, more secure and more powerful blockchain. The coin is based on an innovative consensus algorithm which leveraged the over-allocated hard drive space to create the first new Nakamoto consensus since Bitcoin in 2009. The Chia crypto uses the ‘proof of space and time’ which allows coin farmers to prove that they allocate unused harddrive space to the network. The proof of time and space improves the attack resistance of the network by 51%. Chia is as secure as other proof of work cryptos whilst being less energy intensive. Chia delivers a high quality coin, with the safety and security inline with Bitcoin along with the functional benefit of a purpose built and more secure on chain smart coin environment. Summary of the advantages of Chia coin: The coin uses 0.12% of the energy that Bitcoin uses and 0.23% of the energy that Ethereum uses. Better security due to its more decentralised blockchain. More eco-friendly than other crypto coins. Read more on Chia coin here: https://www.fxmag.com/crypto/what-is-chia-coin-xch-first-new-nakamoto-coin-since-bitcoin-launch-2009  The Safemoon platform SafeMoon is one of the newer cryptocurrencies on the market, having been launched in the first quarter of 2021 SafeMoon had around 2.9 million holders in January 2022. The token's founders wanted a coin that would ensure “safe” gains. SafeMoon designed its products to resist volatility through offering rewards to its investors for holding their coins. There are 4 Functions that occur when a SafeMoon trade occurs: Reflection: 4% of the transaction is distributed to all coin holders. This is in an attempt to lessen the problems the platform is facing regarding mining rewards. LP Acquisition: 3% of each transaction is added to liquidity. The automatic liquidity pool is seen as an advantage of SafeMoons coins, it creates a solid price floor for both buyers and sellers. Manual Burn: 2% of tokens are burnt. The burning of SafeMoon Tokens is manual instead of continuous, this is in an attempt to increase the value of the coins for long-term investors. Growth Fund: 1% is added to the SafeMoon Ecosystem Growth Fund. Read more on the Safemoon platform here: What Is SFM? Does The Altcoin SafeMoon (SFM) Have A Bright Future?  Sources: fxmag.com  
Will Terra (LUNA) Price Drop!? Is It Somehow Caused By ECB (European Central Bank)? | FXStreet

Will Terra (LUNA) Price Drop!? Is It Somehow Caused By ECB (European Central Bank)? | FXStreet

FXStreet News FXStreet News 10.06.2022 16:51
Terra price drops massively as external pressures mount on its price action. LUNA price is set to dip towards $2.00 in a rapid correction. Expect a possible complete pairing back towards a few cents as the question remains what to do with stablecoins going forward. Terra (LUNA) price action is on the cusp of making a massive correction after the playing field changed on Thursday after the ECB massively dropped the ball. The repercussions of that central bank miscommunication have triggered a massive move in the dollar that will not only weigh on the LUNA/USD spot price, but will also turn on the screws for Terra to maintain its peg against the dollar. With several headlines on Thursday out of Congress with questions on a regulatory crackdown on stablecoins, the last days of this second version for LUNA look to be counting down. LUNA price last trading days are counting down Terra price could be in for a bit of pain as two significant external factors could cause a massive headwind, or rather even a massive hurricane, for that matter. On Thursday, the ECB dropped the ball by committing to the most minor rate hike in global markets, while other major central banks are committing to longer, more extensive and faster rate hikes to tame inflation. The most significant side effect of this mishap was that the euro tanked massively and, in turn, made the dollar more expensive across the board. LUNA price has not yet repriced its own intrinsic value against that stronger dollar, and then there is still the issue of its peg to the strong dollar, which will force the hand for Terra to buy more assets to support that peg, and which may prove difficult with stocks on the back foot losing value. As more headlines appear regarding regulatory crackdown, LUNA price looks set to cave in on the pressure and is set to fall back to $2.00, a 35% decline. If the dollar strengthens further and makes new lows, expect to see a further drop towards possibly just a few cents as investors turn their back on the stablecoin for good. LUNA/USD 4H-chart A jump to the upside, towards $3.80 or $4.00, on the other hand, could come about if, later this afternoon, the US inflation numbers are a surprise to the downside. That would mean that the FED is excellently taming inflation, and less severe action is needed. That would, in turn, trigger a jump in equities, creating a double supporting tailwind for LUNA price with both the risk-on from equities and the weaker dollar as driving forces. A rally all the way up to $6.00 could be possible, but then markets would need to pump price action up.
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

ETHUSD: Ethereum May Update A Two-Year Low Despite Transition To PoS (Proof Of Stake)

InstaForex Analysis InstaForex Analysis 10.06.2022 14:13
Relevance up to 11:00 2022-06-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The summer of 2022 becomes the key for the future of the main altcoin Ethereum. On the one hand, the asset is approaching a historical event and the transition to Proof-of-Stake. On the other hand, the asset is trading near the dangerous level of $1.8k, and risks updating the local bottom near the level of $1.3k. This development is indicated by both fundamental factors and technical metrics. The coin largely echoes the movement of Bitcoin and is approaching a defining moment. The asset is completing the formation of a "wedge" figure on the daily chart. This indicates an increase in volatility, as well as a likely momentum out of the narrowing range. The technical indicators point to an ongoing period of consolidation. However, the RSI and the stochastic oscillator are gradually dropping to the lower border of the bullish zone, which indicates a slight dominance of sellers.   In addition, there is a constant influx of ETH coins to exchanges, which is a negative factor in anticipation of the transition to PoS. At the same time, it should be noted that there are impulsive withdrawals of coins from cryptocurrency exchanges, but they are local in nature and do not occur on an ongoing basis. In many ways, this situation was formed due to the growing level of Bitcoin dominance. Ether failed to become a full-fledged deflationary asset, including due to the transition to Proof-of-Stake.     The Ethereum team has already migrated the Ropsten testnet to the PoS consensus algorithm. The first transactions have already been included in the testnet based on the new algorithm. The merge did not go smoothly, and the developers noticed problems with the proposal of new blocks by the validators. The team is currently working on a solution to this problem. In the long term, as the ETH network migrates to PoS, Ethereum's influence on the crypto market should increase. However, in the current environment, investors are not very enthusiastic about everything that happens, and there are two reasons for this. Both of them are directly related to the bear market and its consequences. The total cost of funds in DeFi applications has decreased by 55% since the beginning of 2022. This indicates a low level of liquidity, and many projects have to adjust in order to survive. Transactions on the ETH network have also dropped to a minimum, as decentralized applications are the main source of transactions on the main altcoin network. A bear market will significantly "cleanse" this market, which will negatively affect the Ethereum ecosystem and the capitalization of the coin.     The second reason is the current macroeconomic situation. The main altcoin is not an important tool in the current environment, when the main goal of investors is capital protection and related investments. CoinShares notes that more and more VCs are opting for Bitcoin-based products due to high inflation rates. Similar forecasts are given in the central bank of the EU and the USA. In the current conditions, ETH completely loses the competition to Bitcoin.         In the current situation, the further movement of the ETH price will largely depend on Bitcoin. The main digital asset increased its dominance level to a six-month high, due to which the correlation of the altcoin with BTC increased significantly.     And if Bitcoin makes a downward breakdown of its own triangle, then there is every reason to believe that the ether will follow a new local bottom, which runs in the $1.3k–$1.4k area.   Read more: https://www.instaforex.eu/forex_analysis/313098
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

BTC/USD Hitting $20K!? Bitcoin Price Is Going Down! ETH/USD, Solana (SOL) And Tron - They All Have Decreased! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 13.06.2022 08:36
Bitcoin is losing for the seventh consecutive day, at one point on Monday morning, falling below $25K. The loss in seven days of selling is approaching 18%, bringing the rate to its lowest since December 2020. Ethereum has lost 28% in seven days. Altcoins in the top 10 fell in price from 14.5% (Tron) to 32% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 20% for the week, approaching the 1 trillion mark and crossing it at some point in the morning. As the price falls, so does trading volume, meaning we see investors fleeing the crypto market. However, the traditional market is suffering from the same symptoms. The cryptocurrency Fear and Greed Index dipped to 11 points by Monday. Two similarly prolonged swings of this index in the 10-20 range were in December 2018 and March 2020. In the first, it was the end of the crypto-winter; in the second, it was the final chord of the sell-off. However, it may be too early to rush to redeem the drawdown. Bitcoin does not seem to have closed the gestalt yet, having not tested the 200-week moving average as it did in the previous two cases. It is now passing through 22K. A more ambitious target for the bears would be an attempt to push Bitcoin back to the 2017 highs region, above $19K. US Treasury Secretary Janet Yellen called cryptocurrencies a ‘very risky’ option for retirement savings. Galaxy Digital CEO Mike Novogratz warned investors of a prolonged phase of market consolidation amid tightening monetary policy by the US Federal Reserve. Cardano blockchain founder Charles Hoskinson believes there are positives to be found even in the current market situation, as a bearish trend opens new opportunities for the crypto sphere. The Central Bank of Canada reported that the share of its citizens owning BTC almost tripled to 13% in 2021. The Swedish Central Bank has called for a ban on bitcoin and other Proof-of-Work cryptocurrencies because of the environmental impact.
Altcoins: Yearn.Finance (YFI), What Is It - A Deeper Look Into The Yearn.Finance Platform

Altcoins: Yearn.Finance (YFI), What Is It - A Deeper Look Into The Yearn.Finance Platform

Rebecca Duthie Rebecca Duthie 13.06.2022 15:37
Summary: What is the yearn.finance Platform and how does it work? Advantages of the yearn.finance exchange. Yearn.Finance’s past, present and future price positions. Read next: Altcoins: Axie Infinity (AXS), What Is It? - A Deeper Look Into The Axie Infinity Platform  The Yearn.Finance (YFI) Platform Yearn.finance (YFI) is an Ethereum based token that governs the yearn.finance platform. The platform is a yield organiser, which moves funds around the decentralised finance (DeFi) ecosystem in an effort to generate a higher return. Running on the Ethereum platform, the yearn.finance platform's primary focus is to simplify yield farming. Yearn.finance is an aggregator service for decentralised finance (DeFi) investors through the use of automation, allowing them to maximise profits through yield farming. Its goal is to simplify the DeFi space for those investors who are not technically minded or those who wish to interact in a manner less committal than that of serious traders. Yield farming is a process of staking cryptocurrencies in an attempt to earn a passive income. The yearn.finance platform is an automation tool that invests into the liquidity pools of various cryptocurrencies and other projects to deliver the best profits. According to the whitepaper, the yearn.finance platform offers 3 main products: Earn: refers to the lending aggregator on the platform, and shifts funds between different platforms, users are able to deposit these aggregators to earn interest. The smart contracts linked to the earn lending aggregator ensure that users are earning the highest interest rates at all times. Vaults: the vaults on the yearn.finance platform are like savings accounts for crypto assets. Users are able to manage their holdings and choose the best strategies to maximise their yields. The platform offers more than 10 different strategies for every kind of user. In addition, the platform also assists users with capital shifting, rebalancing and auto-compounding. Iron Bank: this refers to lending services for both protocols and users. This service allows borrowing, by using the crypto as collateral. For some whitelisted protocols, this service also offers zero-collateral loans. There are many benefits to crypto-lending, such as: Low interest costs: due to the assurance of a stable asset, the fees for crypto-lending have moderate interest costs. Claims: the users have complete control over the whole process, the users can also receive different advantages such as getting the physical money required without actually having to go through the management of the lending site advising to trade owned crypto holdings. Accelerated crypto funding: offers a face paced transaction, hence there is the ability for a collateral loan reserve to be processed within a few hours of sanctioned approval. No mandatory credit checks conformities: during the initial investing process, there is no need for a credit screening in crypto lending. The users’ loan access will likely be granted even if the credit is not up to the mark. This can be a lucrative offer for users with unsatisfactory credits.   Yearn.finance was launched in 2020, the current circulating supply of YFI tokens is 36,637 tokens and has a maximum supply of YFI is 36,666 tokens, currently 100% of the YFI tokens are circulating. The current market capitalisation is more than $178 million. Advantages of the yearn.finance platform The Yearn.finance platform offers some of the highest returns on investments. Yearn.finance offers a high level of security. The yearn.finance platform has locked a net value of over $5 billion. Ease of use of the yearn.finance platform. Past, present and future prices for Yearn.finance (YFI) After the launch of the yearn.finance network, the price took off almost immediately, the first spike in price that occurred in September of 2020 and saw the price go above $43,000, and was followed by a gradual but substantial increase. Since then the price rose noticeably again in May of 2021, reaching above the $60,000 level. Since its price peak in 2021, the price of YFI has been gradually declining. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, yearn.finance falls under this category. According to some analysts the future price of yearn.finance (YFI) could reach up to $9,138 by 2026 and could see a price of around $11,692 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. YFI Price Chart Read next: 5 Cryptocurrencies That You Probably Forgot About - Take A Look At Shiba INU (SHIB), Kishu INU ($KISHU), Student Coin (STC), Chia Crypto (XCH), Safemoon (SFM)  Sources: coinmarketcap.com, finance.yahoo.com, cryptonewsz.com, coinbase.com, yearn.finance, coinpriceforecast.com
Crypto Market Crash!? What's "Cryptozyma"? Bitcoin Lost 15.1% (BTC/USD) Yesterday! ETH Has Decreased By 7.8%! | FxPro

Crypto Market Crash!? What's "Cryptozyma"? Bitcoin Lost 15.1% (BTC/USD) Yesterday! ETH Has Decreased By 7.8%! | FxPro

Alex Kuptsikevich Alex Kuptsikevich 14.06.2022 09:32
Bitcoin collapsed 15.1% on Monday, ending the day around $23,200 and slipped another 10% on Tuesday morning on inertia before finding support from buyers after touching $20,800. Ethereum has lost 7.8% in the past 24 hours and more than 30% in the week. The top ten altcoins show buyer optimism, with Solana up 9.5% and Cardano up 7.3%. Among the decline, leaders are Tron with -8% and BNB with -3.5%. The total capitalisation of the crypto market, according to CoinMarketCap, sank 6% overnight to $0.965 trillion. The Cryptocurrency Fear and Greed Index was down 3 points to 8 by Tuesday and remains in “extreme fear”. Bitcoin collapsed on Monday in the biggest decline since the March 2020 crisis amid falling stock markets and a rising US dollar. Bitcoin closed the December 2020 gap by touching the area below the 200-week simple moving average. But in our view, Bitcoin needs to touch levels near 19500: the 2017 peak, which is also where the most aggressive growth phase started at the end of 2020, for a definitive return of long-term buyers. A similar three-point checklist for Ether is also incomplete. ETHUSD touched the 200-week average and dived below the peak levels of the previous cycle in 2018. However, the most aggressive rally at the end of 2020 came from $740, which is well below the day’s lows today at $1075. However, the latter target may prove too ambitious for the bears. Along with BTC, cryptocurrency-focused stocks also collapsed. MicroStrategy shares lost 25.2%, while Coinbase dropped 11.4%. The key trigger for the sell-off in the crypto sphere is the US inflation hike to 8.6% on Friday, followed by speculation that the Fed could raise rates by 75 points at Wednesday’s meeting or at the end of July. According to IntoTheBlock, about half of cryptocurrency holders are now incurring losses. According to Crypto.com CEO Chris Marszalek, the market has entered a phase of “cryptozyma” that could drag on, according to Crypto.com CEO Chris Marszalek. Cryptocurrency lending platform Celsius has suspended withdrawals, exchanges and transactions of digital assets due to “extreme market conditions”. Tether has ruled out the impact of the Celsius incident on USDT reserves. The US Office of the Comptroller of the Currency has warned of the risks associated with Stablecoin, citing the collapse of the Terra project. The US Treasury Department believes that the country’s authorities should be more proactive in seeking to regulate the crypto industry, given the active digitalisation of the financial sector.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Morning rebound faded as PPI remains elevated, Oracle impresses, MicroStrategy all-in on bitcoin, bitcoin holding above USD20k

Ed Moya Ed Moya 14.06.2022 23:22
Wall Street was quick to fade the morning rebound that stemmed a modest improvement with producer prices, possibly providing some hope that core inflation continues to ease for businesses. Wholesale prices are still climbing higher and while they are slightly off the record annual pace, this report does not change anything for the Fed.  Aggressive tightening over the next handful of policy meetings is the only course of action for the Fed. PPI PPI rose 0.8% for the month and 10.8% over the past year.  The April reading downward revisions across the board, so that could support the idea that consumers might see slightly less price increases passed on. The Fed will focus on the month-over-month readings and those are still rising.  The headline 10.8% increase in wholesale prices for the month of May was lower by a tick for both the downwardly revised prior reading and consensus estimate. Oracle earnings sparkle Thank you, Oracle!  If Oracle didn’t crush earnings and remind Wall Street that it is not all doom and gloom out there, US stock markets might have kept the selling pressure going.  Oracle boasted a strong outlook as they saw a “major increase in demand” for cloud infrastructure.  Oracle is somewhat viewed as a safe-haven tech trade and this strong fourth quarter performance will keep it as a must hold on Wall Street. MicroStrategy One of the biggest bitcoin backers, Michael Saylor remains committed to relentless belief with the world’s largest cryptocurrency.  Saylor tweeted, “When @MicroStrategy adopted a #Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity.” MicroStrategy is in danger of a massive margin call and there is no going back for them. In May, their president, Phong Le noted that bitcoin would need to lose half its value around USD 21,000 before they’d have a margin call. Regardless of what happens with bitcoin, investors should be hesitant to use MicroStrategy as their way of gaining exposure to cryptos.  MicroStrategy could have bought protection at any point and they remain blindly bullish on cryptos. Bitcoin ​ Bitcoin traders better be buckled up heading into the FOMC decision.  Bitcoin is still holding the USD 20,000 level and if Wall Street gets a very hawkish decision and press conference, Treasury yields and the dollar could surge once again and that would test the line in the sand many crypto traders have drawn.  If bitcoin breaks below the USD 20,000 level, support might not emerge until the USD 17,000 level. Another crypto plunge might not see major support until the 2019 summer high around the USD 14,000 level. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Morning rebound faded as PPI remains elevated, Oracle impresses, MicroStrategy all-in on bitcoin, bitcoin holding above USD20k - MarketPulseMarketPulse
Diesel Supply Concerns Grow as Russia Bans Exports: Impact on Middle Distillate Markets

Can Apple Stock Plunge Today!? Fed Decision May Affect US Dollar (USD), S&P 500, Gold (XAUUSD) And Crypto (e.g. Bitcoin Price & ETHUSD) | Swissquote

Swissquote Bank Swissquote Bank 15.06.2022 10:28
The Federal Reserve (Fed) will announce its latest rate decision today, but most of the wild ride is certainly done by now; the market fully prices in a 75bp hike at today’s decision. The aggressive rise in hawkish Fed expectations pushed the US 2-year yield to 3.45% on Tuesday. The 10-year yield flirted with 3.50%. The S&P500 lost another 0.38%, while Nasdaq eked out a small 0.20% gain, but after hitting a fresh low since November 2020. The US futures are in the positive this morning, but the market will likely remain tense until the Fed breaks the news that it hikes by 75bp. The updated economic projections and the dot plot have an important weight for future expectations. Bigger rate hikes from the Fed, and the soaring US dollar are certainly not a gift for other central banks. The US dollar is a base currency, and the rapid appreciation in the greenback increases the cost of the goods that the other countries negotiate in terms of US dollars on international markets, starting from oil and commodities. As a result, a stronger US dollar is a bigger inflation threat for the world. This is why, the hawkish Fed expectations have a bigger domino effect power on the rest of the world. The German 10-year yield continues pushing higher, and the EURUSD sees a decent support near the 1.04 threshold after the European Central Bank (ECB) announced an unscheduled meeting to discuss the market turmoil. Cable slipped below the 1.20 mark, and a 25bp hike from the Bank of England (BoE) may not suffice to compensate the hawkish Fed, and the renewed Brexit fears.   Watch the full episode to find out more! 0:00 Intro 0:27 The Fed decision 4:26 Market update 5:32 Gold, Bitcoin down 6:43 FedEx jumps & dividend paying stocks see higher interest 7:41 Expensive dollar threatens ECB, BoE 8:52 FTSE to feel the pinch of engdangered Brexit deal Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #FOMC #decision #dotplot #ECB #unscheduled #meeting #BoE #USD #EUR #GBP #CHF #Bitcoin #MicroStrategy #crude #oil #gold #market #selloff #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
Ethereum Prices Should Hold Above Interim Support To Keep The Bullish Structure Intact

ETC Meaning. Altcoins: What Is Ethereum Classic (ETC)? How Has Ethereum Classic Price Changed?

Rebecca Duthie Rebecca Duthie 14.06.2022 13:38
Summary: What is the Ethereum Classic Platform and how does it work? Advantages of the Ethereum Classic exchange. Ethereum Classic’s past, present and future price positions. Read next: Altcoins: Yearn.Finance (YFI), What Is It - A Deeper Look Into The Yearn.Finance Platform  The Ethereum Classic Platform The Ethereum Classic platform exists in response to the contract censorship that exists on sister chain Ethereum. Ethereum Classic has managed to resist censorship against all odds, and has managed to deliver Ethereum's original vision of unstoppable applications. Ethereum Classic's main function is a smart contract network that has the ability to host and support decentralised applications (DApps). Ethereum Classic’s native token is ETC. Since its launch, Ethereum Classic strives to differentiate itself from Ethereum, and over time has succeeded as its roadmap is diverging further and further apart with time. Ethereum Classic combines the technology of Ethereum with Bitcoin’s philosophy, Ethereum Classic is uniquely placed perfectly to be the smart contract platform of the future, as other chains can become compromised or captured by special interests. Ethereum Classic has a market capitalization of more than $1.9 billion, a current circulating supply of more than 135 million ETC tokens, the ETC tokens are capped at 210.700 million. The Ethereum Classic blockchain is secured using the proof-of-work (PoW) network, however the blockchain has faced regular attacks due to its minority status. These attacks include several 51% attacks to gain control of mining hashrate and execute spurious transactions and double spend coins, the most recent one occurred in August 2020. Buying Ethereum Classic’s ETC ETC is a major market cap cryptocurrency and it is freely tradeable on many major exchanges. Pairs are available through other cryptocurrencies, fiat currencies and stablecoins whilst derivatives and institutional investment vehicles also exist on the platform. It is possible to purchase ETC through Ethereum, Binance and OKEx to name a few. Advantages of the Ethereum Classic platform Ethereum Classic is decentralised: like other cryptocurrencies, Ethereum Classic is decentralised with nodes spread around the globe. Ethereum Classic is the original Ethereum: Ethereum classic is the unaltered version of Ethereum, this is beneficial for those who believe that the Ethereum blockchain has changed too much since it was created. It supports dApps and smart contracts: Ethereum Classic is similar to Ethereum, technologically, and its ability to support dApps and smart contracts is one of Ethereum Classic’s greatest advantages. For these to function, they use Ethereum Classic as fuel, thus creating greater demand for the ETC coin. ETC is cheaper than Ethereum’s ETH: ETC may not have passed ETH, however it is still a large cryptocurrency. Ethereum Classic is trying to make ties with Ethereum: despite their differences, they recognise that by working together they can achieve more. ETC is being enhanced by IOHK (Input Output Hong Kong): since IOHK started working on the project, they have created Mantis, written natively for Ethereum Classic, its purpose is to mitigate attacks and improve security. Ethereum classic is appreciating in the long run Past, present and future prices for Ethereum Classic (ETC) After the launch of the Ethereum Classic network, the price rose almost immediately, the first spike in price that occurred towards the end of 2018 and saw the price go above $40, and was followed by a gradual but relatively substantial decline. Since the first peak in 2018 the price took more than 3 years to take off again, in June of 2021 ETC reached its highest price yet, reaching above the $125 level. Since its price peak in 2021, the price of ETC has been gradually declining. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, yearn.finance falls under this category. According to some analysts the future price of Ethereum Classic (ETC) could reach up to $62 by 2026 and could see a price of around $176 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ETC Price Chart It should be kept in mind that ETC isn't primarily a payment mode but a decentralised blockchain that enables the creation of programmable applications and contracts Sources: trading-education.com, finance.yahoo.com, coinmarketcap.com, ethereumclassic.org, cryptonewsz.com
What's It Going To Be Celsius? Can Bitcoin Price Go Any Lower? Yesterday BTC/USD Lost 5.7%, ETHUSD Decreased By 38% In A Week

What's It Going To Be Celsius? Can Bitcoin Price Go Any Lower? Yesterday BTC/USD Lost 5.7%, ETHUSD Decreased By 38% In A Week

Alex Kuptsikevich Alex Kuptsikevich 15.06.2022 09:26
Bitcoin was down 5.7% on Tuesday, ending the day at around $22K. The decline picked up on Wednesday morning, taking another 3.3% off the price to $21K, declining for the eighth consecutive day and losing 30% in seven days. Ethereum lost 8.1% in 24 hours and 38% in a week. Leading altcoins in the top ten are losing between 2% (Polkadot) and 9.6% (Dogecoin). Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 6.4% overnight to $898bn. The Cryptocurrency Fear and Greed Index was down 1 point by Wednesday, to 7, which last was in March 2020. Concerns around a sharp tightening of monetary policy are weighing on financial markets and are trickling down into cryptocurrencies through their influence on large institutional investors. It is not surprising that Bitcoin and Ether are dragging the entire cryptocurrency market down in such an environment. According to CoinShares, institutional investors withdrew $102 million from cryptocurrencies last week amid expectations of a tightening of monetary policy by the US Federal Reserve. The US regulator’s two-day meeting results will be announced todays. BitMEX founder Arthur Hayes fears that the market has not yet hit rock bottom, and we could see a massive sell-off in cryptocurrencies if bitcoin falls below $20,000. Galaxy Digital head Mike Novogratz is convinced that bitcoin is close to the “bottom” and will hold above $20,000. We believe Bitcoin may be close to its bottom, but it could take months until the next rally. During those months, the entire crypto industry will probably go through a furnace of fire, as we saw with Terra (Luna), and is now happening with Celsius. Stablecoins continue to be tested, and USDD being below parity with USD for the third day tells us that history with USDT (stable tied to Luna) could repeat itself several times.
Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

Market Crash: Are Ethereum (ETH) And Bitcoin (BTC/USD) Price "Very Close To Their Bottom"!? | FXStreet

FXStreet News FXStreet News 15.06.2022 16:46
Analyst who predicted the bear market of 2018 believes Bitcoin and Ethereum prices are very close to their bottom. Kevin O’Leary of Shark Tank detailed his crypto holdings include Ethereum and scaling solution MATIC. Analysts argue that a drop below $1,070 could push Ethereum prices lower. The cryptocurrency analyst known for accurately predicting crypto bear markets believes Ethereum is close to printing cycle lows. Analysts believe Ethereum price could continue to plummet lower. Ethereum price could hit bottom soon? The crypto strategist Smart Contracter accurately called the bottom of Bitcoin and Ethereum during the 2018 bear market. The analyst is now back with his prediction for the two largest cryptocurrencies and believes BTC and ETH are close to their cycle low. The analyst told his 208,000 followers on Twitter that Ethereum has gone through a capitulation phase and is now trading at a level that offers strong support. Smart Contracter is quoted in his recent tweet: BTC and ETH are both at their weekly respective 200-week moving averages. Bottom is very, very close in my opinion, maybe marginal new lows on lower timeframes but this is the spot to start accumulating in my opinion. This is pure unadulterated capitulation. ETH-USD price chart Kevin O’Leary is bullish on Ethereum Kevin O’Leary, a Canadian entrepreneur and investor at Shark Tank, recently revealed the cryptocurrencies in his portfolio. O’Leary has shared his investment strategy when the crypto market is hit by massive volatility. The Shark Tank star and billionaire investor abide by the general rules of portfolio theory when allocating capital to cryptocurrencies. In an interview with the Bankless podcast, O’Leary shared the rules of capital allocation in his portfolio, implying a bullish outlook on Ethereum, one of the cryptocurrencies he holds. Ethereum price drop below $1,070 could push the altcoin to new low Analysts have evaluated the Ethereum price trend and argue that $1,070 is major support for ETH, and a drop below this level could put a lot of pressure on bulls. The altcoin’s price could slide to support at $1,000 in the near term. ETH-USD price chart Ethereum price could enter the three-digit territory FXStreet analysts believe Ethereum price could decline and plummet lower, entering the three-digit territory. For more information, watch this video:
NFT As A Part Of Final Fantasy VII Anniversary Celebration

NFT (Week 23, 08/06/2022 – 14/06/2022) | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 15.06.2022 23:51
Mastercard to implement payments for NFT and Web3 projects. Xiaohongshu, China’s Instagram, tests Web3 waters by investing in a U.S. start-up. Crypto.com NFT now supports Solana-based collectibles. Key Takeaways Traditional payments companies are starting to embrace cryptocurrencies. Payments giant Mastercard has announced that it is working to implement payments for non-fungible tokens (NFTs) and some projects in the Web3 field. Xiaohongshu, also known as China’s Instagram, is testing the Web3 waters by taking part in a US$1.2 million pre-seed fundraising round for U.S. start-up Shil.me, which is planning to launch a platform where people can display, share, transact, and manage non-fungible tokens (NFT) and other Web3 products. Crypto.com NFT now supports Solana-based collectibles. With this update, Crypto.com NFT users can access and trade Solana-based NFTs while enjoying zero extra listing fees or gas fees for trades on Crypto.com NFT. LooksRare recorded -38% and -34% decreases in sales and transactions, respectively. OpenSea‘s sales and transactions were also negative, at -34% and -29%, respectively. Crypto.com NFT in the Spotlight Upcoming NFT drop JayChou𝕩PSG will soon be exclusively available on Crypto.com NFT. Own Every Word is bringing 1,000 brand-new words your way with 200 special-edition ‘Classy Celebration’ words with a custom 8-bit animated background that will never be used again. Highlights NFT trading volume surges amid market and floor price crash Steph Curry, Jaylen Brown NBA Top Shot NFTs to be on China public auction Bored Ape Yacht Club loses spot as top NFT collection on OpenSea MoonPay quietly building out Concierge Team to help celebrities purchase NFTs OpenSea announces new security features to protect users from NFT scams Resorts World Las Vegas, Theta Labs partner on composite NFTs offering luxury experiences Hyundai Card is building its first NFT marketplace and wallet service Web3 NYC Gallery’s Genesis NFTs let collectors remotely display their art from anywhere First San Francisco NFT-backed restaurant will launch in 2023 Byredo and RTFKT are developing NFT perfumes Legendary animator from Japan to launch identity defining NFT brand ‘BOSO Tokyo’ Manny Pacquiao is launching NFTs in memory of dog ‘Pacman’ Transaction Volume Benchmark     Top Collectibles     The following chart shows selected top NFTs and their historical floor prices. Upcoming NFT Sales The following table shows the top upcoming NFT sales and a sample of their art. Project Name Sale Date Price Items Market Cap  Sample Panda Society 18 Jun 2022 0.20 (ETH) 10,000 2,000 (ETH) Chilliens 22 Jun 2022 0.50 (SOL) 5,000 2,500 (SOL) Millenabots 02 Jul 2022 3.00 (SOL) 9,999 29,997 (SOL) Socket Face Club 17 Jun 2022 8.00 (MATIC) 1,000 8,000 (MATIC) Cyborg Guardians 17 Jun 2022 300.00 (CRO) 2,500 750,000 (CRO) * Sources: Rarity Tools, Crypto.com  Top Artists The following table shows selected top artists (by sales volume on each platform) and a sample of their art. Platform Artist Sales Volume (USD) Sample Crypto.com NFT Cronos-7 Visitors $218,000 Magic Eden Okay Bears $2,135,153 OpenSea Bored Ape Yacht Club $12,955,285 Tags CRYPTO CRYPTO RESEARCH CRYPTO.COM RESEARCH CRYPTOCURRENCIES MARKET NFT UPDATE Source: NFT (Week 23, 08/06/2022 – 14/06/2022) (crypto.com)
Is The Recent Crypto Crash Like 2008 Crisis!? Bitcoin (BTC/USD) Price Is Very Close To $19K Level!  Bitcoin will test historical patterns

Is The Recent Crypto Crash Like 2008 Crisis!? Bitcoin (BTC/USD) Price Is Very Close To $19K Level! Bitcoin will test historical patterns

Alex Kuptsikevich Alex Kuptsikevich 17.06.2022 10:27
Bitcoin was down 4.9% on Thursday, ending around $20.7K and trading near $20.8K at the start of the day on Friday. Ethereum lost 6.4% in the last 24 hours, returning to the 1100 area. Altcoins in the top 10 fell in price from 2.9% (BNB) to 8.8% (Polkadot). Total crypto market capitalisation, according to CoinMarketCap, sank 3.5% overnight to $903bn. Bitcoin’s dominance index fell 0.3 points to 44.0%. The Cryptocurrency Fear and Greed Index was up 2 points to 9 by Friday. Although we did not see any new intraday lows, Bitcoin closed Thursday with a tenth consecutive day of declines. New lows in stock indices contributed mainly to this. Bitcoin could be uncharted territory in a few days when historical patterns stop working. The bearish focus remains on the circular $20,000 level, the former peak of 2017. At no time in past down cycles has BTC fallen below the high of the previous bull cycle. Closing the week below $22.3K would also be unique, as it would be the first close below the 200-week average. Bitcoin has previously fallen below this curve more than once but quickly regained some ground, finding ample demand from long-term investors amid a deep and quick sell-off. The latest issue to attract investors’ attention has been the uncertainty surrounding Singapore-based cryptocurrency fund Three Arrows Capital (3AC). The hedge fund could be the subject of a new scandal amid growing speculation about its possible bankruptcy. Commodity Futures Trading Commission (CFTC) Commissioner Christy Goldsmith Romero called on the US Congress to close the cryptocurrency regulation gap and compared the collapse in the crypto-asset market to the 2008 financial crisis.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Will Metaverse Be Worth $5T!? Yahoo's Metaverse And NFT-related Events | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.06.2022 13:57
The metaverse could be worth US$5T by 2030. Yahoo launches metaverse and NFT-related events in Hong Kong. Words With Friends co-founder launches Web3 gaming studio. Key Takeaways In a 77-page report titled “Value Creation in the Metaverse” published by consulting firm McKinsey on Tuesday, it was found that global spending in the metaverse could reach US$5T by 2030. The report drew insight from two surveys conducted with over 3,500 participants across 11 countries.  Major companies are increasingly embracing the metaverse, with web services provider Yahoo launching a series of metaverse and NFT-related events in Hong Kong, such as virtual events, concerts, and exhibitions in the Decentraland metaverse.  Words With Friends co-founder Paul Bettner has launched a new subsidiary of Playful Studios named ‘The Wildcard Alliance’. Its focus is on Web3 game development, which has so far raised US$46M in Series A funding. Their first project is titled “Wildcard”, a multiplayer collectible card game. The total market cap for GameFi tokens now stands at US$7.08 billion, down -24.76% from last week. Highlights As crypto markets tank, metaverse tokens buck the trend L’Officiel pivots to the metaverse with Dogami partnership Tatsumeeko secures US$7.5M seed round to bring metaverse gaming to Discord Fractal targets non-crypto native users with new blockchain gaming wallet Gamerhash joins The Sandbox to build metaverse gaming empire Lionsgate partners with The Sandbox to create film-themed entertainment destination in the metaverse RTFKT collaborates with Byredo on wearable metaverse perfume Meta launches “Horizon Home” in Horizon Worlds metaverse Kraft Foods files for NFT and metaverse patents Solana-built move-to-earn protocol Walken to launch on Bybit June 20th Gaming DAO merit circle, YGG ‘terminate relationship’ Kura leverages TSMC’s advanced chip technology to build the future of the metaverse Game Updates Star Atlas Roadmap Scan #09 Axie Infinity: Origin update CyberArena update Top Gainers and Losers     Top Games Metrics     Top 15 Largest Tokens     Daily Gamers by Blockchain Tags CRYPTO CRYPTO.COM RESEARCH CRYPTOCURRENCIES GAMEFI UPDATE MARKET MARKET UPDATE METAVERSE Source: GameFi (Week 23, 10/06/2022 – 16/06/2022) (crypto.com)
Crypto: How To Estimate A Risk And Take A Profit?

Blockchain: (DApps) Explained By Binance Academy. Decentralized Applications - What Are They?

Binance Academy Binance Academy 17.06.2022 13:42
TL;DR Decentralized applications (DApps) are applications that run on top of blockchain networks. There is a great variety of DApps with different use cases, such as gaming, finance, social media, and more.  Although DApps can look similar to regular mobile apps on your phone, their backend system is different. DApps rely on smart contracts on a distributed network instead of a centralized system to function. It makes them more transparent, decentralized, and resistant to attacks, but also introduces some new challenges.   Introduction Since the birth of Bitcoin (BTC) more than a decade ago, blockchains have evolved to unlock a host of new functionalities and use cases beyond currency. One of these new avenues is building decentralized applications (DApps) to use blockchain technology to enhance many traditional sectors and services.      What are decentralized applications (DApps)? Decentralized applications (DApps) are smart contract-powered digital applications or programs that run on blockchains rather than centralized servers. They look and feel similar to regular mobile apps on your smartphone and offer a wide variety of services and functions from gaming to finance, social media, and much more.  As the name suggests, DApps run on decentralized peer-to-peer networks. One early report suggested that DApps have the following features: Open-source: The source code of DApps is available to the public, meaning that anyone can verify, use, copy, and modify them. There is no single entity controlling the majority of its coins or tokens. Users can propose and vote on changes to the DApp too.  Decentralized and cryptographically secure: To ensure data safety, all information of the DApp is cryptographically secured and stored on a public, decentralized blockchain, maintained by multiple users (or nodes). A tokenized system: DApps can be accessed with a cryptographic token. They can adopt cryptocurrencies like ETH, or generate a native token using a consensus algorithm, such as Proof of Work (PoW) or Proof of Stake (PoS). The token can also be used to reward contributors like miners and stakers. Under this broad definition, the Bitcoin blockchain can be defined as a DApp — and arguably the first DApp ever. It’s open-source, with all data live on its decentralized blockchain, relies on a crypto token, and uses the PoW consensus algorithm. The same applies to other blockchains that have the above features.  However, today the term “DApps” generally refers to all applications that have smart contract functionalities and run on blockchain networks. The Bitcoin blockchain does not support smart contracts, so most people wouldn’t consider it a DApp.  As of June 2022, most DApps exist on the Ethereum network. It offers a robust infrastructure for DApp developers to expand the existing use cases. But as DApps mature, developers have started building them on other blockchains, including BNB Smart Chain (BSC), Solana (SOL), Polygon (MATIC), Avalanche (AVAX), EOS, etc.   How do DApps work? DApps are applications powered by smart contracts. Their backend code runs on distributed peer-to-peer networks. A smart contract works as a set of predefined rules enforced by computer code. When and if certain conditions are met, all network nodes will execute the tasks that the contract specifies. Once a smart contract is deployed on the blockchain, it is hard to change the code or destroy it. Therefore, even if the team behind the DApp has disbanded, users can still access the DApp.    Benefits of DApps While the interfaces of DApps and traditional applications can look similar, DApps offer multiple benefits compared to their centralized counterparts. Web apps store data on centralized servers. A single compromised server may take down the entire network of the app, making it temporarily or permanently unusable. Centralized systems may also suffer from data leakages or theft, putting the companies and individual users at risk. DApps, in contrast, are built on distributed networks with no central authority. With no single point of failure, DApps are less vulnerable to attacks, making it very difficult for malicious actors to hijack the network. The P2P network can also ensure the DApp continues to work with minimal downtime, even if individual computers or parts of the network malfunction.  The decentralized nature of DApps also means that users can have more control over the information they share. With no companies controlling users’ personal data, they don’t need to provide real-world identity to interact with a DApp. Instead, they can use a crypto wallet to connect to DApps and fully control what information they share.   Another benefit of DApps is that developers can easily integrate cryptocurrencies into their basic functionalities by leveraging smart contracts. For example, DApps on Ethereum can adopt ETH as payment without integrating third-party payment providers.     Limitations of DApps DApps hold the potential to become an important part of a censorship-free future, but every coin has two sides. Decentralized applications are still in the early stages of development, and the industry is yet to resolve limitations such as scalability, code modifications, and a low user base.  DApps require significant computing power to operate, which could overload the networks they run on. For example, to achieve the security, integrity, transparency, and reliability that Ethereum aspires to, it requires every validator to run and store every transaction executed on the network. This could hurt the system’s transaction per second (TPS) rate and lead to network congestion and inflated gas fees.  Making modifications to a DApp is also challenging. To enhance user experience and security, a DApp will likely need ongoing changes to fix bugs, update the user interface, and add new functionalities. However, once a DApp is deployed on the blockchain, it is hard to modify its backend code. It would require a majority consensus from the network’s nodes to approve any changes or improvements, which could take a long time to implement. The abundance of DApps on the market makes it difficult for one to stand out and attract many users. For a DApp to operate effectively, it needs to achieve a network effect — the more users a DApp has, the more effective it is at providing services. A larger number of users can also make the DApp more secure and protect it from hackers meddling with the open-source code.   Popular DApp use cases DApps offer a fresh approach for businesses across many industries to reach more users. Some popular DApp use cases include GameFi, decentralized finance (DeFi), entertainment, and governance.   GameFi GameFi DApps have been growing in popularity, which is exemplified by the rise of Axie Infinity, a play-to-earn game on the Ethereum blockchain. According to DappRadar, blockchain gaming activity in 2022 Q1 saw a 2,000% increase from 2021. It also attracted 1.22 million unique active wallets (UAW) in March 2022, with over 50% of the activity coming from gaming DApps.  Unlike traditional video games, most gaming DApps give players full control over their in-game assets. They also offer players opportunities to monetize these items outside of the game. Axie Infinity, for example, features game characters, virtual land, and gaming items in the form of NFTs. Players can store them in crypto wallets, transfer them to other Ethereum addresses, or trade with other players on NFT marketplaces. Within the ecosystem, players can compete with each other to collect ERC-20 tokens that can be traded on exchanges. Typically, the longer they play, the more in-game rewards they can earn.    DeFi and DEXs Traditional finance relies on financial institutions to act as middlemen. Through DApps, everyone can use financial services without any central authority and maintain full control of their assets. DeFi can also benefit low-income individuals, offering them access to a broad range of financial services at significantly lower costs.  Borrowing and lending are the most popular types of financial services that decentralized applications provide. DeFi DApps offer instant transaction settlement, minimal-to-none credit checks, and the ability to use digital assets as collateral. Users can have more flexibility on DApp lending marketplaces. For example, lenders have more control over their loans by choosing which token to lend and on what platform. Users can also potentially earn 100% of the interest generated from the loan since they don’t have to pay any intermediary fees.  Decentralized exchanges (DEXs) are another crucial example of financial DApps. Such platforms facilitate peer-to-peer trading by eliminating intermediaries such as centralized crypto exchanges. Users do not need to give up custody of their funds. Instead of transferring their assets into an exchange, they trade with another user directly with the help of smart contracts. Orders are executed on-chain and directly between the users’ wallets. Since DEXs require less maintenance, they typically have lower trading fees compared to centralized exchanges. Some popular DEXs include Uniswap, SushiSwap, and PancakeSwap.    Entertainment Entertainment is an integral part of our lives. With DApps, daily activities that people enjoy are being transformed into digital experiences that can also generate economic incentives. For example, Audius, a blockchain-based decentralized music streaming platform, removes the intermediaries that exist in the traditional music industry to connect artists and fans directly. It allows music curators to better monetize their content and produce immutable records of their work on the blockchain. DApps are also tackling issues that social media platform users face. Centralized social media giants like Twitter and Facebook are often criticized for censoring posts and mishandling user data. With decentralized social DApps like Steemit, the community can interact freely and express their opinions with fewer restrictions and censorship while enjoying greater control of their personal information.    Governance DApps can empower users to play a greater role in the governance of online organizations by introducing a more community-centric decision-making mechanism. With the help of smart contracts, users that hold governance tokens of a particular blockchain project can create proposals for the community to vote on and cast their votes on others’ proposals anonymously.  One of the decentralized governance models is Decentralized Autonomous Organizations (DAOs). DAOs can be considered fully autonomous DApps that use smart contracts to make decisions without a central authority. They have no hierarchy. Instead, it is economic mechanisms that align the interests of the organization with those of individual DAO members.   How to connect to DApps? To interact with a DApp, you’ll first need a compatible browser extension wallet like MetaMask, Trust Wallet, or Binance Chain Wallet. They only take a few minutes to set up. Some even offer mobile versions for easy access. Let’s use Trust Wallet as an example to see how to connect it to PancakeSwap on BNB Smart Chain (BSC). If you don’t have a Trust Wallet yet, check out this Academy article on how to install it on your smartphone.    Depositing BNB to Trust Wallet To use DApps on BSC, you’ll need some BNB to pay transaction fees. For example, you can withdraw BNB from your Binance Spot Wallet.  Go to your Trust Wallet and tap [BNB Smart Chain]. Do not click [BNB Beacon Chain]. This option is for BEP-2 BNB on the BNB Beacon Chain and cannot be used to pay transaction fees on BSC.     Tap [Receive] to view your BNB deposit address. You can then copy and paste this address into your withdrawing wallet or scan the QR code to make the transfer.     After the transaction is confirmed on the blockchain, you will see the BNB amount on your Trust Wallet homepage.    Adding CAKE to your Trust Wallet list Trust Wallet's default list of tokens does not include DApp tokens like PancakeSwap (CAKE). To make CAKE visible in your wallet, you need to add it to the list first. Tap [Add Tokens] and search “PancakeSwap”. You will see CAKE on different blockchains. As we’re using BSC, tap to toggle on the button next to [BEP-20 CAKE].     You should now see CAKE on your Trust Wallet token list.      The next step is connecting your Trust Wallet to PancakeSwap. You can connect through the built-in mobile browser on Trust Wallet or a desktop.    Connecting to PancakeSwap via the Trust Wallet browser 1. Tap [Broswer] from the Trust Wallet homepage and go to the PancakeSwap website.      2. You’ll be prompted to connect your Trust Wallet. Tap [Connect].     Connecting to PancakeSwap via a desktop browser 1. Go to the PancakeSwap website and click [Connect Wallet].      2. Click on the [Trust Wallet] icon and you’ll see a QR code on the screen.      3. Open your Trust Wallet app and go to [Settings] - [WalletConnect].      4. Tap [New Connection] and scan the QR code.      5. You’ll be prompted on the app to allow the connection. Tap [Connect].         Closing thoughts DApps are expanding the functionality of the Web by enhancing conventional applications with blockchain technology. Decentralized applications could bring even more innovative use cases to the market in the future. As DappRadar reported, DApps recorded almost 2.4 million daily active users by Q1 2022, and user interest is expected to grow continuously. However, DApp developers and the blockchain networks they build on are yet to address the current limitations before reaching mass adoption.
Is Crypto Crash Still There!? Why does Bitcoin (1 BTC To USD) continue to decline despite the rise in "buy the dip" sentiment?  | InstaForex

Is Crypto Crash Still There!? Why does Bitcoin (1 BTC To USD) continue to decline despite the rise in "buy the dip" sentiment? | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 14:35
Relevance up to 10:00 2022-06-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The crypto community held its breath as the price of Bitcoin approached the vital $20k level. Subsequently, the buyers managed to recapture an important milestone and stabilize the situation. The asset managed to get to the $22k level and start consolidating. The number of mentions of "buy the dip" is growing on the network, which has always been a signal for the formation of a local bottom. In addition, Bitcoin has formed a "bullish hammer" pattern, which can also be regarded as a positive signal for a likely price reversal.     All of the major metrics also point to bear market peaks. The fear index has updated its annual maximum, which indicates that the point of highest tension has been reached. Also, the volume of long positions on some crypto exchanges continues to grow. Santiment experts believe that large investors are ready to defend the $22k level, which is becoming a key area for a trend reversal.     Technical indicators also demonstrate local positive. The RSI index starts an upward movement and will soon leave the oversold zone, which indicates the activation of purchases. The Stochastic Oscillator has formed a bullish crossover and is also approaching the upper border of the oversold zone. In general, positive signals are visible, but there is no need to hope for a successful implementation of short-term bullish impulses, since similar situations have been observed over the past two weeks. In addition, the MACD is still in a direct downward peak, which indicates that the bulls are not taking any initiative in the long term.     Sellers also do not lose their grip and continue to put pressure on the price. As of June 17, the asset has fallen below $22k and is trading in the $21k area. Over the past two weeks, a record number of Bitcoins have entered crypto exchanges, and the worsening economic crisis and rising inflation continue to negatively affect the quotes of the first cryptocurrency. One of the main reasons why a wide reversal in the price of Bitcoin fails is the decrease in the overall level of liquidity.     This crisis is most evident in the situation around stablecoins. In the second quarter of 2022, stablecoin volumes declined by $10 billion, excluding the situation with UST. The market saw the negative side of stablecoins, decoupling from the US dollar and vague reporting. As a result, in addition to the general reduction in liquidity associated with the bear market and Fed policies, the market has lost a lot of investment in stables due to the fallen reputation of stable digital coins. As a result, there is less liquidity and fewer stablecoins in the market, which negatively affects the implementation of bullish impulses.     The second important factor that influenced such a powerful fall in Bitcoin was the actions of mining companies. According to Santiment, the net inflow of BTC to crypto exchanges from miners has reached a historical record of 88,000 coins. Bitcoin mining companies have faced the negative effects of the bear market, as well as the energy market crisis. As a result of the war in Ukraine and the subsequent sanctions against the Russian Federation, the energy resource market has become volatile, which directly affects the main components of the miners' activities. As a result, mining companies became the main suppliers of BTC coins to exchanges as part of the $20k retest. In addition to these factors, the Fed's aggressive policy, rising inflation, and the ongoing war in Ukraine should not be discounted. All these factors indirectly affect and destabilize Bitcoin quotes and the cryptocurrency market. Despite this, the market has found a foothold in the $22k area, where the BTC bulk buying is taking place. In addition, it is important to understand that as the asset consolidates above $20k, there is an increase in positions in the $16k–$19k range. If the round level is broken, the price will not be able to sink like a stone to $15k, as the $16k–$19k area becomes saturated and thus slows down the fall. Therefore, even a breakdown of $20k will not cause a violent reaction in the market and panic. Read more: https://www.instaforex.eu/forex_analysis/313778 Read more: https://www.instaforex.eu/forex_analysis/313778
Is Crypto Crash Still There!? Why does Bitcoin (1 BTC To USD) continue to decline despite the rise in "buy the dip" sentiment?  | InstaForex

Crypto Prices: Will LUNA Price Drop Significantly!? Bitcoin And ETH Are Not Only Ones Which Have Decreased! | FXStreet

FXStreet News FXStreet News 17.06.2022 13:40
Terra price action reveals a playbook trade setup. LUNA price is set to fall at least another 16% towards base support. Expect a possible slaughter in the coming weeks as cash volumes keep diminishing. Terra (LUNA) price action is starting to reveal its next playbook move and it could not be more clear-cut with the formation of a bearish triangle pattern. Expect to see pressure mounting further on the base, triggering a possible break to the downside. Given global headwinds are not set to fade anytime soon, expect to see further drops in price action towards possibly just a few cents from the initial offering price. LUNA price screams sell Terra price is set to tank another leg lower and could well be on track towards a quotation of just a few cents. As the plane called Terra is trying to make a soft landing, it is just a matter of time before the fuel (the cash) runs dry. With households and retail traders seeing less and less disposable income because of higher prices eating into their household budgets, less money is available to allocate towards cryptocurrency investments. LUNA price is thus possibly in for a hard landing, as to make matters worse, now a bearish triangle is forming that screams that the pain game and the overall descent are far from over. Expect to see more pressure mounting on $1.9370, with the intermediary red tilted trend line over the top to provide a cap. Once bulls forfeit their positions at $1.94, expect to see bears piercing through that level and possibly running price action to the downside towards $1.50 or $1.00 before restarting a new distribution phase with some sideways price action and possibly another bearish formation to prelude the next leg lower. LUNA/USD daily chart Should a turnaround be triggered by a relief headline, on the other hand, or some data released that points to the fact that inflation is starting to drop, expect a bullish knee-jerk reaction with a break above the red descending trend line. From there, the price could quickly rally towards $3.50 and pop 45% higher as bulls jump on the buy signal. Depending on the longevity or game-changer aspect of the headline, $3.80 could also be tested.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Investing In Crypto? Trading plan for (BTC) Bitcoin on June 17, 2022

InstaForex Analysis InstaForex Analysis 17.06.2022 15:07
Relevance up to 14:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Bitcoin dropped to fresh lows close to the $20,000 mark early this week before finding some bids coming in. The crypto remains range-bound between $23,000 and $20,000 levels for now and needs to break out to decide the next larger move. Looking at the recent price action, there could be another drop below the $20,000 mark before resuming higher again. Bitcoin has carved a meaningful downswing between $69,000 and $20,000, which ideally needs to be retraced. The recent downswing can be seen between $48,000 and $20,000, with immediate resistance around the $32,000-$35,000 zone. The asset can produce a rally in the near term before reversing lower again. Bitcoin has still not confirmed a near-term bullish reversal in accordance with price action. We shall wait for further evidence on the smaller timeframes to update the same going forward. Aggressive traders might initiate long positions with a tight risk below the $19,000 mark which conservative traders are looking to stay aside for a while. Trading plan: Preparing for a counter-trend rally at least towards $35,000. Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280635
Bitcoin Maintains A Steady Bullish Potential

Crypto Market Has Been Topping Headlines For A Very Long Time! Bitcoin Price Has Decreased Significantly! | ING Economics

ING Economics ING Economics 17.06.2022 15:28
The problems surfacing in crypto markets over the past weeks are well-known in traditional finance, as are the tools to address them. If this does not illustrate why crypto regulation is welcome, what will? While the NASDAQ composite stock index has lost about a third since November last year, bitcoin has lost double that   While all financial markets have been volatile of late, crypto assets in particular are having a very bad time. Leading cryptocurrency bitcoin is currently down 30% compared to a week ago. While crypto assets were, until not too long ago, seen by many as uncorrelated with traditional stocks, the crypto downturn since November has progressed in remarkable sync with traditional assets, tech stocks in particular. The common factors that drive down traditional markets – inflation and rate hike expectations – are weighing on crypto as well. The crypto accelerator, now in reverse Moreover, where crypto appeared to enjoy an accelerator when markets were bullish, that same accelerator is now at play in the bear market. While the NASDAQ composite stock index has lost about a third since November last year, bitcoin has lost double that (see chart). This multiplier can probably at least partly be traced back to the build-up of leverage when times were good, and the unwinding of that same leverage over the past weeks and months. Indeed a number of prominent crypto investment names currently in trouble appear to suffer from margin calls on leveraged bets gone wrong. Bitcoin and Nasdaq composite (rebased to 9 Nov 2021 = 100) Source: Macrobond Algorithmic stablecoins: the emperor's new clothes? Instrumental in the recent crypto market turmoil has been the crash of “algorithmic” stablecoin Terra, in early May. This type of stablecoin is not backed up by assets to guarantee its value, but deploys an algorithm trading in the stablecoin versus a companion currency. The idea was that the algorithm could always mint new companion currency to buy stablecoin, keeping up the value of the latter. What worked for Baron von Munchhausen, does not work for algorithmic stablecoins Yet the crucial assumption for this to work is that the companion currency is perceived to have at least some value. That assumption was proved wrong by the Terra stablecoin. As a result, its algorithm took the concept of “quantitative easing” to wholly new levels when it increased the supply of companion currency Luna more than 20,000 times (from about 350 million to over nine trillion at the peak), trying to prop up Terra. Alas, what worked for Baron von Munchhausen (getting out of the swamp by pulling up his own hair), does not work for algorithmic stablecoins in an environment of evaporating confidence. Stablecoins as full reserve banks The episode was perceived by regulators as a confirmation of the need to regulate stablecoin very much like a bank. That makes a lot of sense. Like a bank deposit, stablecoins are expected to always trade at par with the currency in which they are denominated. Stability, security and liquidity are key concepts. And like a bank, a stablecoin may face runs if confidence is tested. Banks have various mitigations and remedies in place, encouraged and imposed by regulation. We expect algorithmic stablecoins to retreat to the margins of the crypto universe Purely algorithmic stablecoins are unlikely to pass the regulatory bar, and we expect them to retreat to the margins of the crypto universe. Instead, stablecoins will likely have to be fully backed by high-quality liquid assets. In other words, stablecoins will be full reserve banks (as opposed to traditional banks that operate on fractional reserves). The full reserve operation means stablecoin issuers hardly face any credit risk, removing the need for a deposit guarantee scheme, and greatly simplifying the capital buffer framework, compared to traditional banks. The need to pre-empt systemic risks Regulators are rightly worried though that if stablecoins grow further their issuers may become systemically relevant. In case of a run and the need for asset fire sales to honour redemptions, even high-quality liquid assets may temporarily trade against a discount, imposing losses on the issuer and disrupting safe asset markets for the entire financial system. The crypto universe currently houses a few dominant stablecoins. The consensus is that these may not yet pose systemic risks as described but may well start to – if their volume issued continues to grow as it has done over the past years. A textbook bank run in crypto The crypto company that had to halt redemptions earlier this week – and in so doing started a new wave of panic – is different: it is neither a stablecoin nor a regulated bank, but for its main product offering it did use bank-like language such as “savings” and “deposit”. It also distinguished itself by offering double-digit yields that are impossible to find in traditional banking. The company has had various run-ins with US supervisors, that opined it was offering a securities product without proper registration. Faced with a run, any institution that is in principle solvent, can turn illiquid The crypto company did vaguely resemble traditional banks in the sense that its assets tended to be riskier than its liabilities tended to be perceived. Also, some of its assets appear to be locked up for a longer period, whereas its liabilities were immediately redeemable. Finally, the liquidity of some of its assets proved to deteriorate fast in current markets. These transformations of risk, maturity and liquidity are core functions of a traditional bank. They also render a bank susceptible to runs. Faced with a run, any institution that is in principle solvent (its assets are worth at least as much as its liabilities), can turn illiquid (it cannot liquidate its assets immediately at the right price to honour redemptions). For this reason, bank regulation may be the most elaborate type of regulation out there, including liquidity buffers to handle redemptions, capital buffers to absorb losses, detailed risk management, and transparency requirements. If, despite all this, a bank runs into trouble, the central bank can act as lender of last resort (against proper collateral), and if the bank does fail, deposit guarantee schemes (typically financed by the sector itself) ensure depositors don’t end up with a loss. Mutual funds have the important difference that they don’t issue liabilities at par – meaning that contrary to banks, they pass on credit risks to their investors. Insofar as their assets are tied up for a longer time, they may impose lock-up periods on investors wanting to redeem.   To summarise, the problems currently faced by some crypto companies are well known in traditional finance, as are the tools to mitigate them. If regulation had been in place, risk-taking and leverage might have been more contained, or at least have been more transparent. Does regulation guarantee things never go off the rails? Unfortunately, no. But it would have established basic investor protection, and would have allowed them to realise that there is no such thing as a free lunch: high return typically comes with high risk. Our main takeaway from this week is therefore twofold: The sooner regulation is in place in crypto, the better. It will help investors to distinguish the good from the bad and the ugly, and to choose products that match their risk appetite. As leveraged positions continue to be under pressure and a lack of confidence leads investors to want to cash out, we are likely to see more currencies, companies and platforms wobble in the weeks ahead. Read this article on THINK TagsRegulation New Money Market crash Cryptocurrency Bank pulse Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Fluctuating Crypto: (ETH/USD) Ethereum Price Has Gone Down! Trading plan for Ethereum on June 17, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 15:31
Relevance up to 14:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ethereum dropped through the $1,012 low early this week before finding interim support. The crypto is seen to be trading close to the $1075 mark and is expected to resume its rally towards $1,920 initial resistance soon. Bulls are looking poised to hold prices above the $1,000 mark to keep the near term structure intact and constructive. Ethereum has carved a meaningful downswing between $4,850 and $1,012 levels as seen on the daily chart. Ideally, prices need to retrace the above drop before the next leg lower could resume. Immediate price resistance is seen through the $1,920 mark and a minimum push towards that is expected in the near term. Ethereum might have terminated its decline around the $1,012 mark and could be preparing to resume its rally. A push above $1,244 will be required to confirm that bulls are back in control and further acceleration towards the $1,920 mark. Aggressive traders might be preparing to initiate fresh long positions against $1,000. Trading plan: Preparing to resume higher through $1,920 mark against $1,000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280641
Analysis Of The Ripple (XRP) Price Movement

How Have Ripple Price Changed? Trading (Ripple) XRP Amid Crypto Market Crash? Trading plan for Ripple for June 17, 2022

InstaForex Analysis InstaForex Analysis 17.06.2022 15:50
Relevance up to 15:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ripple dropped through the $0.29300 lows early this week before finding support again. The crypto confirmed a bullish Morning Star candlestick pattern after bouncing from the above and rose up to the $0.34600-700 mark thereafter. High probability remains for bulls to hold prices above $0.29300 and continue pushing higher towards the $0.41000 initial resistance in the near term. Ripple has been dropping since reaching the $1.91600 level, which was registered in April 2021. The above drop looks like a complex corrective structure, which was completed around $0.29300 early this week. A break above the initial price resistance seen through the $0.41000 mark would confirm that bulls are back in control in the near term. Ripple might continue its drop further but ideally after a meaningful corrective rally towards at least the $0.91500 level. Please note that it is passing close to the 0.382 Fibonacci retracement of the entire drop between the $1.91600 and $0.29300 levels respectively. Traders might be willing to initiate fresh long positions against the $0.29300 mark. Trading plan: Potential rally through $0.91500 against $0.29300 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280645
5 Cryptocurrencies That You Probably Forgot About - USD Coin (USDC), Lucky Block (LBLOCK), Solana (SOL), GARI ($GARI), dydx (DYDX)

5 Cryptocurrencies That You Probably Forgot About - USD Coin (USDC), Lucky Block (LBLOCK), Solana (SOL), GARI ($GARI), dydx (DYDX)

Rebecca Duthie Rebecca Duthie 17.06.2022 16:05
Summary: A summary of USDC, LBLOCK, SOL, $GARI, DYDX,. Stablecoins, games platform, the blockchain trilemma, video sharing, Proof of work, proof of space and time, proof-of-history. Dydx and margin trading. USD Coin (USDC) USD Coin is a digital stablecoin that is attached to the US Dollar, it is used as a digital dollar for global businesses. This coin is interesting because it is always redeemable in a ratio of 1:1 for US Dollars, meaning it gives its users access to the US Dollar. USDC is seen as a pillar of the blockchain ecosystem. The USDC software is open-source and is managed by an organisation that drives standards for the adoption of trusted stablecoins, and enforces payment and identity standards; this organisation is called Centre Consortium. The USDC is available on most of the world's most powerful and innovative block chains. The fact that USDC offers a broad, native availability and the ability to seamlessly swap across the blockchain ecosystems, means that developers who build with USDC are able to extend their reach. The Centre Consortium's second major standard provides decentralised identity for crypto finance, called Verite. Verite is a collection of standardised protocols that can help make it safer, easier and more efficient to do business across the world of DeFi and Web3 commerce. Verite is free and anyone can use it and to build on. Read more: (USDC) USD Coin, What Is It And How Does It Work? - An Interesting Altcoin!  Lucky Block (LBLOCK) Lucky Block is one of the most undervalued cryptocurrencies, but hopes to change that by building onto the Binance Smart Coin and using it to offer more transparency and equality amongst users. Lucky Block is listed on the Pancakeswap platform, in the weeks following the listing, the price increased substantially and investors saw brilliant returns. They launched their coin earlier this year, and have seen successful returns since. Lucky Block is a cryptocurrency games platform, a worldwide games and competitions platform with “play-to-earn” rewards using blockchain protocols, it operates on the Binance smart chain. They are determined to develop further transparency and fairness in games. The coin was created to give everyone a better experience for lottery entrants. Lucky Block believes that games of chance should have no borders (geographic and financial). The coin is considered to be revolutionary - it is a “crypto-lottery” Lucky Block was the fastest crypto to earn $1 billion Market Cap, they acquired 50k+ investors in the first 90 days after launching. Read more:(LBLOCK) LuckyBlock Crypto-Lottery - The Future Of Cryptocurrency?  Solana (SOL) The Solana coin was founded in 2017 during the initial coin offering (ICO), their aim is to keep cost low but still achieve scaling throughput beyond what is achieved by other popular blockchains. As well as trying to solve the blockchain trilemma. The SOL token was officially launched in March 2020. Since its launch Solana has become one of the Top 10 cryptocurrencies with regards to total market capitalisation. Proof-of-history in the context of cryptocurrencies refers to a high frequency Verifiable Delay Function (VDF). A VDF produces a unique output that is efficient and can be publicly verified. Solana uses the proof-of-history to solve the issue of the need for centralised systems to verify transactions, as the need to use centralised services defeats the object of a decentralised system. Solana’s platform uses a proof-of-stake network, meaning the security network is not dependent on energy usage, thus the platform is environmentally friendly. The synchronisation engine that is used by Solana is one of the main reasons they can achieve a high throughput. The reliability of Solana’s synchronisation guarantees allows them to break down the synchronisation blocks called ‘entries’ which are then validated in real time before any block consensus. Read more: (SOL) Solana Coin Continues to Grow - Popular Altcoins, SOL: What Is It & How Does It Work?  GARI ($GARI) Chingari App is a short video-sharing app that pays its content creators based on how viral their videos become. With every upload, creators get points per view which can be exchanged for money. Chingari has been labelled India's version of Tiktok. Chingari has partnered up with Solana to build and launch GARI on a decentralised exchange in 2023. Chingari is the largest on chain social graph on web3. $GARI NFT marketplace, which will launch in 2023 acts as both an in-app currency and as a governance token. This will give creators the authority over future platform development. GARI Panda is an exclusive collection of 9,999 unique panda NFTs on Solana, this feature aims to bring unique & real world utilities to holders. In the future if advertisers wish to run advertisements in the Chingari app, they will need to own Gari Panda NFTs. Read more: https://www.fxmag.com/crypto/gari-networks-future-looks-bright-as-the-market-waits-for-gari-to-launch  Dydx (DYDX) Dydx is a decentralised trading platform that is used for cryptocurrency margin trading for assets such as ETH, BTC, SOL, DOT and more. The bulk of the trading happens on the Ethereum blockchain, however, with the recent launch of layer 2, the Dydx exchange can be used for inexpensive, instantly settled trades. Dydx has successfully filled a niche market in the world of cryptocurrencies. Dydx is a leading crypto exchange that supports perpetual trading. It trades on the ethereum block chain using smart contracts and no intermediaries. Perpetual trading on cryptocurrencies are financial derivatives that enable traders to bet on crypto asset price movements, using leverage without owning the underlying asset. Some advantages of using this method are: Increased flexibility of trades by allowing both long and short trades. Increased leverage. Dydx is aiming at trading for everyone. They are building an open platform for crypto financial products, which is powered by the Ethereum blockchain. Read more: What Is (DYDX)? dYdX Cryptocurrency Supporting Perpetual Trading - Altcoins of Interest  Sources: FXMAG.com
Bitcoin Maintains A Steady Bullish Potential

Bitcoin went underwater: for how long? | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 22:39
Relevance up to 12:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Defeat and capitulation. This is how the cryptocurrency market can be characterized. The aggressive tightening of the Fed's monetary policy, rampant growth in debt rates, the collapse of the stablecoin TerraUSD and its sister token Luna, as well as the intention of the largest crypto lender Celsius Network to suspend all withdrawals, exchanges and transfers made the bulls on BTCUSD a chop. Bitcoin went underwater, collapsing to the lowest levels over the past 1.5 years, leaving in the cold most of the buyers who bought it during this period. However, according to Bill Gates, cryptocurrencies and NFTs are assets 100% based on the fool's theory. What else did you want? Bitcoin and its analogues were bought only because people were sure that someone would pay more for them after a while. You will not receive any interest or dividends on them. There are no issuing companies or states behind them. Buying air, the Fed only inflated the bubble with its colossal monetary stimulus, which plunged real Treasury yields deep into the red and supported the entire risky asset class. The debt sell-off triggered by the Fed's aggressive monetary tightening returned the ratio between S&P 500 stock dividend yields and bond dividend yields to the lowest levels since the 2008 recession. Financial markets have returned to the era before the Lehman crisis, when bonds did not support stocks. Dynamics of the ratio of dividend yield on shares and interest on bonds     It is difficult to expect that a decrease in P/E to 15.7, the average value over the past 15 years, will reverse the downward trend in the S&P 500. In December 2018, the multiplier fell to 13.8, and in March 2020 to 13.4. As cheap as stocks look, they can get even cheaper. Given the close correlation between BTCUSD and the Nasdaq Composite, this does not bode well for fans of the leader in the cryptocurrency sector. Optimists hope that Bitcoin will be able to stabilize near the round mark of 20,000, as it did in 2018–2019 with the level of 5,000 and in 2014–2015 with the level of 300. Pessimists say that the peak to 10,000 will continue. At the same time, the lower the BTCUSD quotes will sink, the faster the sales will go. This is due to the departure of the token from the average price at which it was purchased. Parallels can be drawn with diving. In previous cases, in 2018–2019 and March 2020, it turned out to be relatively short. How will it be this time? Dynamics of BTCUSD and the average purchase price of Bitcoin     Personally, I remember the story of 2013 with gold. Then they also said that it could not sink too deep, since the cost of production is at the level of $1,300 per ounce. In fact, the precious metal almost reached $1,000. BTCUSD, Daily chart     Technically, to implement the reversal pattern of the Wolfe Wave, a return of Bitcoin to 30,000 is required. Until this happens, we use the rebound from the resistances at 23,300, 24,300, and 25,000 for sales.   Read more: https://www.instaforex.eu/forex_analysis/313784
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Crypto Market Crash And (1 BTC) Bitcoin Price Shocked Many! Technical analysis of BTC/USD for June 17, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 17.06.2022 22:49
Relevance up to 20:00 2022-06-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical market outlook of Bitcoin (cryptocurrency) : Trading Bitcoin (BTC/USD) : Bitcoin is at an all-time lowest against the dollar around the spot of $20,089 - Bitcoin is inside in downward channel. Since three weeks BTC/USD decreased within an down channel, for that Bitcoin hits new lowest $22k, $21k and $20,089. Consequently, the first resistance is set at the level of $21,183. Hence, the market is likely to show signs of a bearish trend around the area of $21,183 and $20,765. Bitcoin price could be awaiting a major downswing if the digital savings manages to slice below a fatal line of the first resistance that sets at the price of $21,183 (Horizontal black line). The prevailing chart pattern suggests that if the leading cryptocurrency could be expecting to rebound from the levels of $21,183. Psychological level has already set at the price of $20,000. If the BTC/USD fails to break through the support prices of $20,000 today, the market will rise further to $21,183 so as to try to break it. Bitcoin is one the best overall investment for 2022 and coming years. However, if you want to try to improve the growth of Bitcoin, thus it seems great to buy above the last bearish waves of $20,000 and $20,100. Buy orders are recommended above the majors support rates of ($20,000 and $20,100.) with the first target at the level of $21,183. Furthermore, if the trend is able to breakout through the first resistance level of $21,183. We should see the pair climbing towards the next target of $21,521 (to test the 50% of Fibonacci retracement levels). The pair will move upwards continuing the development of the bullish trend to the level $21,859 - golden ratio 61.8%. It might be noted that the level of $21,859 is a good place to take profit because it will form a new double top in coming hours. Trading recommendations : The trend is still bullish as long as the price of $20,000 is not broken. Thereupon, it would be wise to buy above the price of at $20,000 with the primary target at $21,183. Then, the BTC/USD pair will continue towards the second target at $ $21,521 (a new target is around $21,859). Alternative scenario : The breakdown of $20,000 will allow the pair to go further down to the prices of $19k and $18k.   Read more: https://www.instaforex.eu/forex_analysis/280667
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Market Crash: Bitcoin Price - Technical Analysis of BTC/USD for June 20, 2022

InstaForex Analysis InstaForex Analysis 20.06.2022 09:33
Relevance up to 09:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: One of the largest airlines in Spain - Vueling - has announced cooperation with a cryptocurrency payment service provider. The aim of the newly established cooperation is to enable customers to pay for tickets in several digital assets. The start of this service has been announced at the beginning of 2023. Vueling has announced that it will be accepting 13 different cryptocurrencies as a form of payment. According to the airline's press release, the Barcelona-based company will use Universal Air Travel Plan (UATP) technology (the sector's global clearing network) to best integrate the new payment offering. The Spanish aviation giant will initially include 13 cryptocurrency payment options in its service. Among them are some of the leaders in terms of market capitalization, such as bitcoin (BTC), ether (ETH), Bitcoin Cash (BCH), litecoin (LTC), dogecoin (DOGE) and shiba inu (SHIB). If all goes as planned and the joint project is launched early next year, the Spanish company will become the first low cost airline in Europe to introduce cryptocurrencies as a payment method for customers. Technical Market Outlook: The BTC/USD pair is starting the new trading week on the positive note, because after the weekend drop to the level of $17,600 the market bounced back above $20,000 to test this level again. The bulls are bouncing from the extremely oversold market conditions, so the next target for bulls is seen at the level of $23,287. Any failure to hit or/and break above this level will likely result in another wave down towards the recent lows. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key levels this trading week.     Weekly Pivot Points: WR3 - $35,385 WR2 - $31,310 WR1 - $25,552 Weekly Pivot - $21,486 WS1 - $15,559 WS2 - $11,561 WS3 - $5,781 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the round psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712.   Read more: https://www.instaforex.eu/forex_analysis/280791
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

ETH Price May Be Surprising! Ethereum - Technical Analysis of ETH/USD for June 20, 2022

InstaForex Analysis InstaForex Analysis 20.06.2022 09:36
Relevance up to 09:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Tether, the largest stablecoin and the third largest cryptocurrency in the world, fell victim to a massive DDOS attack on June 18. According to a tweet by Paolo Ardoino, the company received a ransom note from hackers who attacked its system. He explained, however, that this was by no means new. Tether has dealt with similar situations in the past. As a result of the attack on the stablecoin site, 8 million queries were recorded in 5 minutes. On a normal day, she only receives 2 inquiries per 5 minutes. The company first reported the attack about 2 hours after it was launched. While tether has been losing market share in the past few weeks, other stablecoins, such as USD Coin (USDC), have been gaining in value. USDC's market capitalization has risen from approximately $ 48 billion in mid-May to $ 55 billion today. The dwindling market cap of the tether is taking place in the face of ongoing panic in the market. The aggregate value of the entire cryptocurrency market has recently dropped below $ 1 trillion for the first time since February 2021. Technical Market Outlook: The ETH/USD pair had made the Bullish Engulfing candlestick pattern at the H4 time frame chart and is continuing the up move. The recent local high was made at the level of $1,156, however, it is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,000. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/280793
The Bitcoin Fall Will Likely Continue In The Future

Heavy crypto selloff brings some in, pushes most out! | MarketTalk: What’s up today? | Swissquote

Swissquote Bank Swissquote Bank 20.06.2022 17:00
A massive selloff hit the sector on Saturday and sent the price of Bitcoin below the $18K mark, the lowest level since the end of 2020. Ethereum fell below $900, as smaller cryptocurrencies followed their major peers to the south. Sunday saw a rebound as some dip buyers piled in on belief that Bitcoin may have cheapened enough to catch an interesting dip. In traditional markets, US equities saw some relief at the end of a heavily stressful trading week. The US dollar index is softer, gold consolidates and crude oil is down. Investor sentiment remains tense as ECB Chief Lagarde and Fed Chair Powell testify this week, and there will be a lot of inflation talk on the menu! Watch the full episode to find out more! 0:00 Intro 0:28 The heavy crypto selloff: buy the dip? 5:35 Market update 8:20 Economic events to watch this week 9.21 Corporate events to watch this week Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Bitcoin #Ethereum #selloff #cryptocurrencies #Celcius #Babel #ThreeArrows #buythedip #sell #panic #economic #corporate #calendar #USD #EUR #GBP #XAU #crude #oil #Fedex #Mobilicom #IPO _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Weekly Crypto Analysis: Crypto Market Tumbles, Here’s Everything You Should Know | KuCoin

Weekly Crypto Analysis: Crypto Market Tumbles, Here’s Everything You Should Know | KuCoin

Kucoin Blog Kucoin Blog 20.06.2022 17:22
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart     Cryptocurrencies trade 24/7, often fluctuating dramatically on weekends when financial markets are closed. Bitcoin and other cryptocurrencies fell sharply on Sunday, BTC losing approximately 55% of its value year to date and is down roughly 70% from its all-time high near $69,000 in November. Meanwhile, Ether (ETH) is down 69% in 2022.   There is no single cause for such a massive drop, as a series of events are conspiring against cryptocurrencies, instilling fear in the market. The recent crypto selloff began in May with the failure of the Terra blockchain and has coincided with the Federal Reserve raising interest rates amid recession fears, Wall Street entering a bear market, and soaring inflation.   Several crypto bulls have characterized the recent drop in the crypto market as a prime buying opportunity, while critics warn that the fundamentals have not changed and that the price could fall even further.   The good thing about cryptocurrency trading is that you can profit even when the market is crashing through short selling. So if you're new to cryptocurrency, check out KuCoin's comprehensive guide to short-selling cryptocurrencies.   Let's go deeper and take a look at the most recent crypto market news and Bitcoin's technical outlook.   Crypto Market Overview With the drop in Bitcoin's price, its dominance has also suffered significantly, falling from 47.23% last week to 43.37% today. As a result, the supply of Bitcoin on various exchanges has decreased dramatically.   On Monday, the leading cryptocurrency pair, BTC/USD, is trading at $19,836.92, while Ethereum, the second-largest cryptocurrency by market capitalization, has plunged sharply to $1,067.22, down 21.61% in the last seven days.   Bitcoin SV (BSV), Helium (HNT), and Synthetix (SNX) remained the top performers from the previous week. BSV soared by more than 38.31% to trade at $64.46, while HNT is up by 31.49% in the last seven days, holding at $10.71 right now.   Finally, the SNX has made an outstanding recovery, rising 65.21% in 24 hours and 26.93% in seven days to trade at $2.55.   Cryptocurrency Market Heatmap | Source: Coin360   Last week's worst performers were Monero (XMR), KuCoin Token (KCS), and Nexo (NEXO). XMR is down more than 27% to $109.11, and KCS fell more than 25% to $10.11, but the KuCoin token has recovered 8.64% in the last 24 hours. Lastly, the NEXO coin is down 23.73% in the last seven days.   The cryptocurrency market remains risk-off due to a series of events we will explore below.   Top Altcoin Gainers and Losers Top Altcoin Gainers: ➢ Bitcoin SV (BSV) ➠ 38.31% ➢ Helium (HNT) ➠ 31.49% ➢ Synthetix (SNX) ➠26.93%   Top Altcoin Losers: ➢ Monero (XMR) ➠ 27.71% ➢ KuCoin Token (KCS) ➠ 25.16% ➢ Nexo (NEXO) ➠ 23.73%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Bitcoin Tumbled Below $20K, as US FED Hikes Interest Rate By 75 bps One of the reasons behind a recent dip in Bitcoin prices and the overall cryptocurrency market could be associated with the interest rate hike from the US central bank Federal Reserve.   After inflation unexpectedly accelerated last month to 41-year highs, the Federal Reserve increased the Fed Funds rate by 75 basis points (bps) to 1.5%-1.75% during its June 2022 meeting, rather than the 50 basis points initially expected.   It is the largest rate increase since 1994, and Chair Powell hinted that a similar move could occur at the next meeting, but he does not anticipate 75bps moves becoming common. Interest rates are expected to rise to 3.4% this year, a significant increase from the 1.9% predicted in March.   Economic Growth: The US economy is expected to grow by 1.7% this year, down from the 2.8% predicted in March, and the growth forecast has been lowered for both 2023 (1.7% vs. 2.2%) and 2024 (1.7% vs. 2.2%).   US Inflation: PCE inflation is expected to be 5.2% in 2022 (up from 4.3% in March), while the outlook for 2023 (2.6% vs 2.7%) and 2024 has been revised lower (2.2% vs 2.3%). So, to control the massive rise in inflation, the US FED has to take corrective measures, which usually start by reducing the economy's money supply.   Unemployment Rate: The unemployment rate is expected to rise over the next three years, reaching 3.7% in 2022 (up from 3.5%), 3.9% in 2023 (up from 3.5%), and 4.1% in 2024.   What Does the US Federal Reserve's Rate Hike Mean for Crypto? As you probably know, there's a positive correlation between US stocks and cryptocurrencies. This means a surge in stock prices typically drives an uptrend in crypto coins. The rise in US interest rates has a negative impact on US stock markets because it increases the cost of debt financing, lowering companies' profit ratios. This could slow company growth and overall performance, so investors try to adjust their portfolios by selling stocks and investing in less risky assets like US bonds and gold.   When interest rates rise, the opportunity cost of investing in US bonds falls compared to investing in stocks and cryptocurrencies. So investors go to earn a risk-free return on investments with US bonds. Similarly, investments typically flow out of digital currencies as a rate hike drives an uptrend in fiat currency prices and investors prefer to hold US dollars.   Well, this is one of the reasons behind the bearish sentiment in the market. More reasons are down the line. Want to survive and make money in the bearish crypto market? Check out KuCoin’s complete guide by following the link.   Risk-off Sentiment In-Play as Celsius Says It Will “Take Time” to Stabilize Its Liquidity Recalling KuCoin’s previous Weekly Crypto Analysis report, Celsius, one of the largest crypto lending platforms, announced last Sunday that it was pausing withdrawals, swaps, and transfers "due to extreme market conditions." The announcement came after one of the most brutal weekends in cryptocurrency history when hundreds of millions of dollars were lost.   A week after stopping withdrawals, the cryptocurrency lending platform Celsius Networks Ltd. said on Sunday that it would "take time" to get its liquidity and operations back on track. A recent update to the Celsius Network crypto platform said, "We want our community to know that our goal is still to stabilize our liquidity and operations."This procedure will take some time.   The company also announced that it is suspending its Twitter Spaces and Reddit AMAs to "focus on navigating these unprecedented challenges and seeking to fulfill our responsibilities to our community." Celsius eventually canceled an AMA (Ask Me Anything) session with its CEO on Friday, just minutes before it was scheduled to begin.   The recent drop in cryptocurrency prices, particularly Ether, could be attributed to the latest developments from the Celsius network.   Babel Finance Pauses Withdrawals Amid “Unusual Liquidity Pressures” Following the footsteps of Celsius Exchange, the Hong Kong-based Babel Finance temporarily halted crypto-asset withdrawals and redemptions as the crypto lender scrambled to pay its clients following the recent downturn in the digital currency market.   In a time when interest rates are going up, investors are getting rid of risky assets like cryptocurrencies. For example, bitcoin lost more than half of its value this year after hitting a record high of $69,000 in November. Crypto lenders accept retail crypto deposits and reinvest them, boasting double-digit returns and trying to attract tens of billions of dollars in investments. However, due to the recent financial crisis, lenders cannot recoup their clients' assets.   Babel, which only accepts Bitcoin, Ether, and Stablecoins, raised $80 million in a funding round last month, valuing the company at $2 billion. It had $3 billion in outstanding loans on its balance sheet at the end of last year. This could also be one of the major reasons for another round of crypto market meltdowns.   Salvadoran President Has Some Advice for You, Can Nayib Bukele Underpin the Bitcoin Price? Early this weekend, Bitcoin fell to a level not seen since 2020, trading at $19,900, up 10.09% in the last 24 hours and 22.04% over the previous seven days.   El Salvador has bought 2,301 bitcoins since making BTC legal tender alongside the US dollar in September of last year. With the price of bitcoin plummeting, El Salvador's BTC investment is said to have lost half its value, or more than $50 million.   Nayib Bukele Tweet - Source: Twitter   El Salvador's president, Nayib Bukele, has spoken about bitcoin investments amid the steep decline of cryptocurrency.   "I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key. “   Investors will be curious to see if Nayib Bukele's advice can prevent people from selling cryptocurrency and gaining long positions.   Crypto Calendar: Events to Watch This Week ➺ 20/06/2022 - NFT.NYC (AAVE) ➺ 21/06/2022 - Live AMA (NEXO) ➺ 22/06/2022 - Office Hours (XTZ) ➺ 23/06/2022 - Crypto Expo Milan (BIFI) ➺ 24/06/2022 - Vibrant NFT Exhibition (ICP)   Will the Vasil Hard Fork Spark a Cardano (ADA) rally? Cardano has been anticipating its most recent hard fork, the Vasil Hard Fork, which is said to improve network efficiency and make the network more developer-friendly. The Vasil Hard Fork is scheduled for June 29, 2022, and the countdown to the hard fork has given many people hope. Given how badly the price of Cardano's native cryptocurrency, ADA, has been struggling, the hope is that the hard fork will help it recover.   Importance of Vasil's Hard Fork Cardano is also seeking to make the network more developer-friendly, with over 1,000 projects being developed on the network. More projects are expected to join because it performs better than Ethereum, and the network is built to facilitate all of these easily.   The rollout of the Vasil hard fork on the mainnet is still a week away, but there are already many discussions and hopes surrounding it. It is running on the Cardano testnet, working to improve smart contract efficiency. Smart contracts on the Cardano network will be cheaper and faster after the June 29th launch.   Vasil comes after the Alonzo hard fork, the most significant hard fork on the Cardano network. Alonzo had introduced smart contracts to the network. On the other hand, Vasil will build on and improve on this foundation to create a more efficient network.   This update drives optimization around Cardano and has the potential to drive an uptrend in ADA/USDT.   Fear and Greed Index Signals “Extreme Fear” - Bearish Bias Dominates The cryptocurrency market remained under pressure on Monday, as the Fear and Greed Index's "extreme fear" signal kept market sentiment risk-off.   The cryptocurrency market is highly volatile, and people become greedy when the market rises, resulting in FOMO (Fear of missing out). Furthermore, in an irrational reaction to red figures, people frequently sell their coins.   Fear & Greed Index | Source: Alternative   When the Fear and Greed Index shows extreme fear, the markets are usually in the "oversold" zone. This is when crypto bulls sit tight, waiting for the cryptocurrency market to turn bullish. Better be ready for it.   Bitcoin (BTC/USDT) Analysis on KuCoin Chart The leading cryptocurrency plunged dramatically to trade under the $20,000 psychological mark. However, the BTC/USDT coin has entered the oversold zone and may gain support near the $17,700 level.   As you can see on the KuCoin chart, the RSI fell under 20 before recovering to 35. Although it’s still under 50, in the sell zone, the candlesticks are suggesting chances of a bullish correction in the market.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   On the daily timeframe, the BTC/USDT coin has formed a candlestick pattern called "Tweezers Bottom," which is known to drive a bullish reversal in the market; thus, BTCUSD has the potential to experience a bullish correction.   The BTC/USDT has already completed the 23.5% Fibonacci retracement, and this level is acting as a significant resistance at $21,000. A surge in BTC demand and a breakthrough in this resistance exposes the BTC/USD to the following resistance levels of 23,023 (38.2% Fib) or $24,650 (50% Fib).   Let's keep an eye on the $21,000 level as failure to breakout at this level could expose BTC price towards the support areas of $17,700 or $16,300.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin | Cryptocurrency Exchange | Buy & Sell Bitcoin, Ethereum, and more
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Trading Signal for Ethereum (ETH/USD) on June 20-21, 2022: buy above $1,045 (21 SMA - 1/8 Murray) | InstaForex

InstaForex Analysis InstaForex Analysis 20.06.2022 18:04
Relevance up to 16:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Ethereum (ETH/USD) fell to new lows at $878 on Saturday, this level was last seen on Jan 3, 2021. Since this level, Ethereum has been bouncing and has recovered over 30%. It is currently trading at around 1,125 about 1/8 Murray. Cryptocurrency market sentiment has stabilized. Bitcoin has bounced from the low of 17,566 to $20,970 with a gain of more than 20%. Retail buying, profit-taking on short positions and strong overselling have all acted as support for a strong bottom which is likely to see the market recover some of the losses of the last few weeks. Another fact that sets the stage for the recovery of cryptocurrencies is the change in market sentiment. Risk assets such as the Nasdaq-100 index are bouncing and this could favor the recovery of Ether in the coming days. According to the 4-hour chart, we can see that Ether reached the -1/8 Murray line at 875. This level represents extremely oversold conditions which were proven when the eagle indicator reached the 5-point level. Since June 18, the eagle indicator has been giving a positive signal. So, any pullback in ETH is likely to be seen as an opportunity to buy with targets at the strong resistance of 2/8 Murray located at 1,250. Seeing that Ether broke the 21 SMA and is now consolidating above this level adds a positive outlook. As long as it keeps trading above $1045, a recovery is likely in the next few days. If the bullish trend persists and the price breaks sharply and closes above 2/8 Murray at 1,250 on the daily chart, we could expect an upward acceleration. The price could reach the EMA 200 located at 1,774, which would mean a recovery of more than 80% of ETH /USD. On the downside, if ETH consolidates below the 0/8 Murray located at the psychological level of $1000, we could expect a sharp drop and it could reach the area of -1/8 Murray at $875. Our trading plan for the next few hours is buy ETH/USD above 1/8 Murray located at 1,125 or wait for a technical bounce from 1,045 (21 SMA) with targets at 1,250 and 1,574. The eagle indicator is giving a positive signal which supports our bullish strategy.   Read more: https://www.instaforex.eu/forex_analysis/280907
Altcoins: Decred (DCR) - A Deeper Look Into The Decred Platform

Altcoins: Decred (DCR) - A Deeper Look Into The Decred Platform

Rebecca Duthie Rebecca Duthie 20.06.2022 20:23
Summary: What is the Decred Platform and how does it work? Advantages of the Decred exchange. Decred’s past, present and future price positions. The Decred Platform The Decred token and protocol were created to facilitate community interaction, open governance and sustainable funding policies. According to the platform's official whitepaper, Decred was created in a way that the community has to approve all transactions and changes made regarding the protocol. Therefore, ensuring there is no way that big Decred holders can manipulate the protocol's operations. The Decred platform is built on a hybrid with both the Proof-Of-Work (PoW) and Proof-of-Stake (PoS) that aligns incentives and layers security. The mixture of both these systems makes the system more expensive to attack than if Proof-of-Work and Proof-of-Stake were operating on their own. Decred is innovative due to the way it bets on blockchain technology’s decentralised nature to prevent monopoly over voting status in the project itself. One of Decreds main goals is to ensure that all DCR holders have the same amount of decision making power and that large institutions are unable to swing votes in their own favour. Decred is, however, similar to Bitcoin due to the fact that it is a decentralised, peer-to-peer blockchain with medium of exchange, store of value and unit of account features necessary to be money. However, DCR does beat Bitcoin in some of the following ways, DCR has on-chain governance, self-funding developer fund, and of course its hybrid Pos/PoW consensus algorithm, Decred introduced the ticket-holder voting to ensure that investors who have enough DCR will be able to participate in votes regarding the company/tokens operations and future. In addition, Decred created Politeia, Politeia is a dedicated voting platform that allows users to participate in votes, start discussions and submit proposals. Users are able to buy DCR on many large platforms, the largest being Binance, the others are Huobi, YoBit, BitAsset and more. The Decred platform was launched in February of 2016, there is a maximum supply of 21 million DCR and more than 14 million of them are in circulation. The current Decred market capitalisation is just short of $321 million. Advantages of the Decred Platform: Decred’s hybrid consensus algorithm which consists of both the Proof-Of-Work (PoW) and Proof-of-Stake (PoS) that aligns incentives and layers security. The mixture of both these systems makes the system more expensive to attack than if Proof-of-Work and Proof-of-Stake were operating on their own. The Decred platform is also adaptable due to its built-in governance system that empowers its community with formal rights to make both project-level decisions and consensus changes. These systems make the Decred platform more adaptable and therefore allowing the platform to evolve as the stakeholders wish it to, resist forks and incorporate new technologies in the long run. The Decred platform also has the advantage of sustainability thanks to its continuously funded treasury with 10% of each block reward, it also employs a flexible contractor model that allows their contractors to receive compensation for their work. Thus, making Decred a self-funded and sustainable Decentralised Autonomous Organisation. Past, present and future prices of Decred (DCR) After the launch of the Decred network, the price of DCR rose almost immediately, the first spike in price that occurred towards the start of 2018 and saw the price go above $97, and was followed by a sharp decline. After its first peak in 2018 the price fell and then spiked again in the same year. The second peak was followed by a gradual decline, and took more than 2 years to take off again, in May of 2021 DCR reached its highest price yet, reaching above the $200 level. Since its price peak in 2021, the price of DCR has been gradually declining, showing some signs of trying to recover during the later part of 2021. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, yearn.finance falls under this category. According to some analysts the future price of Decred (DCR) could reach up to $85 by 2024 and could see a price of more than $105 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. DCR Price Chart Sources: finance.yahoo.com, coinmarketcap.com, decred.org, cryptonewsz.com, cryptoeq.io
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Governance Tokens - What Are They? | Binance Academy

Binance Academy Binance Academy 21.06.2022 12:53
TL;DR Governance tokens give holders the right to vote on issues that govern the development and operations of a blockchain project. It’s a method for projects to distribute the decision-making power to their communities. This decentralized governance model helps align the interests of the token holders with that of the project.   Introduction Many traditional companies are governed by a board of directors or a small group of people, in what can be categorized as centralized governance. The average size of the biggest companies’ boards is around 10 people. They hold enormous power over how companies are run. The directors can nominate or fire key executives, decide which projects to invest in, and set the company’s strategy. Governance tokens represent a different way to govern organizations. Common for decentralized autonomous organizations (DAOs) and decentralized finance (DeFi), the model that governance tokens represent offers a more equitable, decentralized, and transparent governance method. In most cases, one token equals one vote. These tokens are designed to bind the communities together to ensure blockchain projects can develop healthily.   What Are Governance Tokens? | Binance Academy How do governance tokens work?  Governance tokens are the core method to realize decentralized governance in DAO, DeFi, and decentralized application (DApp) projects. They are often awarded to active users for their loyalty and contributions to the community. In turn, token holders vote on major issues to ensure the projects’ robust development. Typically, voting takes place via smart contracts, in which case the results are automatically implemented. One of the earliest governance tokens was issued by MakerDAO, an Ethereum-based DAO that underpins the crypto-collateralized stablecoin DAI. The Maker Protocol is governed by holders of its governance token called MKR. One MKR token equals one vote, and the decision with the most votes is adopted. Token holders vote on a variety of issues, such as appointing team members, adjusting fees, and adopting new rules. The objective is to ensure the stability, transparency, and efficiency of MakerDao’s stablecoin. Another example is Compound, a DeFi protocol that allows users to lend and borrow cryptocurrencies. It issues a governance token called COMP to allow its community of users to vote on key decisions. The tokens are allocated in proportion to users’ on-chain activity. In other words, the more you lend and borrow on Compound, the more COMP tokens you receive.  Similar to MakerDAO, one COMP token equals one vote. Users can also delegate their tokens to others to vote on their behalf. Notably, Compound relinquished control of the network’s admin key in 2020. It means the project became completely governed by its token holders without any substitute governance methods. Other notable governance tokens include those issued by decentralized exchange Uniswap and PancakeSwap, DeFi lending platform Aave, Web3 NFT community ApeCoin DAO, and virtual world platform Decentraland.  Each project sets different rules about how their governance tokens work. Tokens are distributed to stakeholders, including the founding team, investors, and users, according to different calculation models. Some governance tokens only vote on a certain set of governance issues, while others vote on most things. Some governance tokens can earn financial dividends, while others don’t.     Pros and cons of governance tokens Governance tokens have some great benefits. They can eliminate the misalignment of interests often seen in centralized governance. Decentralized governance enabled by governance tokens transfers that management power to a broad community of stakeholders, aligning the interests of users and the organization itself. Another advantage of governance tokens is the ability to build active, collaborative, and close communities. Every token holder is incentivized to vote and improve the project. Because one token mostly equals one vote, it can lay the groundwork for fair and more equitable decision-making. Every token holder can initiate a proposal to be voted on. The details of each vote are open for everyone to see, which lowers the chance of cheating. The biggest challenge of government tokens is the so-called whales problem. Whales are people who hold a large percentage of a certain crypto. If the biggest whales of a crypto project hold a significant portion of the overall supply of its governance token, they could swing the voting process to their favor. Projects need to make sure token ownership is truly decentralized and evenly distributed. But even if governance tokens are distributed fairly and broadly, there is no guarantee that the majority decisions are always the best for the projects. One-person, one-vote election systems have a long history and their track record is mixed. There have been cases when governance token holders vote to benefit the founding teams and large investors at the expense of the wider community.   What's next for governance tokens?  As an innovation born out of the crypto space, governance tokens could find wider usage in more sectors. The Web3 movement is a place where governance tokens can help build a decentralized internet. As DeFi and DAOs gain momentum, other industries such as gaming could adopt this governance model. Governance tokens will continue to evolve to fix problems as they emerge. There might be new mechanisms to deal with the whale problem or other ways to enhance the voting process. Novel methods of delegating votes could appear. This space is likely to become more complex, while new innovations continue to take place.  Another major factor impacting the future of governance tokens is potential regulatory changes. Some governments may deem these tokens as securities. That could subject them to strict regulations and impact how they can function.      Closing thoughts Governance tokens are still in the early stages of development. They have facilitated the robust growth of many DeFi and DAO projects. With voting power to determine the projects’ management, these tokens are the cornerstone of decentralization.  The principle of one token, one vote places users and the community at the center as long as the tokens are distributed relatively equally among the members of the community. Governance tokens may continue to expand in the future. User-owned networks, Web3 projects, and games could adopt governance tokens to build more vibrant decentralized ecosystems.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Plenty of action to come

Craig Erlam Craig Erlam 21.06.2022 16:20
European stocks are making small gains again on Tuesday, benefiting from the relatively calm start to the week. The US returns following the bank holiday weekend which could see activity pick up, with particular focus on what the various central bankers have to say. Jerome Powell’s testimony in Congress on Wednesday and Thursday will naturally be the highlight but in this rapidly changing environment, all views will have the potential to get things moving. There’s no doubt that the next few days have far more on the calendar so investors may take the opportunity to breathe and take stock of the situation. It’s been a turbulent couple of weeks and the rest of the summer is likely to bring more of the same so these periods of reflection are welcome. With that in mind, these small recoveries in stock markets shouldn’t provide any comfort. Everyone is hunting for the bottom but there’s a huge cloud of uncertainty over the outlook and the data isn’t yet showing any encouraging signs. Recession is increasingly becoming the base case and so equities are vulnerable to further losses. Bitcoin remains vulnerable Bitcoin is holding on in there after breaking USD 20,000 over the weekend but despite breaking back above here early in the week, it remains highly vulnerable to another plunge below. I can’t imagine all of the negative headlines are behind us as far as the crypto industry is concerned and the wider financial market environment remains unfavourable. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Plenty of action to come - MarketPulseMarketPulse
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Altcoins News: These altcoins will rise or plunge alongside Bitcoin in 2022

Finance Press Release Finance Press Release 21.06.2022 16:28
Altcoins or alternative coins as they are otherwise known, typically refer to any other cryptocurrency apart from. But while the word may be a broad term being used for a wide range of cryptocurrencies, some altcoins and altcoins news are known to be more closely tied to the leading cryptocurrency — Bitcoin (BTC) and events related to them, than others. However, that is mainly a result of the fact that a good number of the so-called 'alternative coins' were forked from Bitcoin. Also noteworthy is the direct impact that the price of Bitcoin has on altcoins. It can be seen that altcoins prices are usually directly proportional to that of Bitcoin in the crypto market. That is, when BTC rises, altcoins do the same. But when BTC plunges, altcoins will inevitably plunge as well. So, with the current situation of the crypto market, and how difficult it is for BTC itself to stay afloat, one can easily understand why the majority of the altcoins are also having troubles at the moment. Having said all these, below is a list of the top seven most closely related altcoins to Bitcoin that will either rise or perish with the top cryptocurrency in 2022. Top seven altcoins whose fortunes or doom are tied to Bitcoin Solana Solana (SOL) is one of the biggest altcoins, and part of a group of cryptocurrencies tagged the "Ethereum killers." And just like Ethereum, it uses blockchain technology to facilitate decentralized finance (DeFi) projects including smart contracts and non-fungible tokens (NFTs). In addition, Solana also supports decentralized app development (dApps). Uniswap Uniswap is another altcoin that investors may use to earn and swap. The Uniswap protocol boasts of many products and service offerings. They include; Gelato, which supports automated transactions between cryptocurrency tokens on the Ethereum blockchain, TrustWallet, its highly secure crypto wallet, Universe Finance — a smart vault provider, and Rotki, the open-source analytics tool. Cosmos Just like every other aforementioned altcoin, Cosmos is another top altcoin whose fall will be unavoidable should Bitcoin fall in the current crypto market that has proven to be almost more volatile than usual. Reputed for offering solutions to some of the pertinent challenges of the blockchain industry including environmental impact, and slow and costly transactions. Polkadot Polkadot is one of the top altcoins which has an open-source blockchain platform. It provides interoperability and interconnectivity between specialized blockchains. That is, Polkadot helps facilitate the cross-chain transfer of any data between various blockchains. However, it is only able to achieve this, by permitting independent chains to securely exchange messages and transact with each other without the need for a trusted third-party Polygon Polygon is a decentralised Ethereum scaling platform that allows developers to create scalable user-friendly dApps with low transaction fees, whilst also keeping an eye on security. The altcoin combines the proof-of-stake blockchain infrastructure and the Plasma framework for investors to have a seamless experience. Theta Theta is a popular altcoin and blockchain, whose end-to-end infrastructure was purposely built for decentralized video streaming. On Theta, crypto investors may share bandwidth and computing resources via a peer-to-peer method. Avalanche Avalanche is perhaps the most connected altcoins to Bitcoin. It is, in fact, the fastest smart contracts platform in the blockchain space. And with its offering of an eco-friendly, low-cost, and remarkably fast platform, Avalanche may have become a favourite amongst smart contract-based applications.
ETH/USD May Scare Many! Market Crash: Can 1 ETH To USD Reach $750!?

ETH/USD May Scare Many! Market Crash: Can 1 ETH To USD Reach $750!?

FXStreet News FXStreet News 21.06.2022 16:34
Ethereum collateral position set a new record as 71,863.47 ETH were liquidated on June 18. Independent market analyst told his followers that latest Ethereum price rally would make for a clean fakeout. Analysts believe Ethereum price could plummet to $750 in the bear market, an 85% drop from all-time high. Ethereum price has rebounded from its recent slump, outperforming Bitcoin. Experts believe the recent rebound could end up being a “clean fakeout” as liquidations hit large Ethereum collateral positions. Some analysts are projecting a bearish outlook on Ethereum price. Largest Ethereum collateral position liquidated Based on data from Dune Analytics, a crypto data intelligence platform, the wallet with code 0x2291F52bddc937b5B840d15E551e1DA8C80c2B3c liquidated a 71,863.47 ETH collateral position on Liquity at $927.13, at 19:39 GMT on June 18. This set the largest single liquidation record for Liquity. Liquity is a decentralized borrowing protocol that allows users to draw loans at 0% interest against an Ethereum collateral. Loans are paid out in LUSD, a USD-pegged stablecoin on Liquity protocol. The chart below represents the hourly total value locked (TVL) change over the past week on Liquity and the largest ETH liquidation is represented on June 18. Hourly TVL Change (7 days) Liquity Ethereum price gained 30% in two days, outpaced Bitcoin After its massive recent slump, Ethereum price has bounced back, rallying 30% within 48 hours. Experts noted that this ETH recovery has outpaced Bitcoin as the altcoin made a comeback above $1,100 within two days. Experts noted that Ethereum is currently the best-performing asset in the top five cryptocurrencies by market capitalization. Ethereum started a short-term uptrend after dropping to the support zone at $880 on June 19 and climbed above $1,100 moving into a short-term bullish zone. The altcoin now faces major resistance near the $1,150 and $1,160 levels. ETH-USD price chart Analyst calls “clean fakeout” in Ethereum price PostyXBT, a crypto trader and analyst, told his 79,900 followers to be careful of the recent rebound in Ethereum price. The analyst argued that the move “would make for a clean fakeout.” The analyst was quoted in a tweet: [Ethereum]... stopped out on the reclaim of the level. It looks like an opportunity to flip long towards $1250 but $btc still hasn't reclaimed it's like for like level. Would make for a clean fake out. Be careful. Justin Bennett, co-founder of Cryptocademy, supports this fakeout prediction. Bennett noted that fakeouts to one side of the pattern trigger extended moves in the opposite direction. He considers $900 and $780 as support levels for Ethereum price. Ethereum price could drop to $750 for this reason Wendy O, the host of the O show and a leading crypto analyst, believes Ethereum price could plummet to a $750 low. Wendy argues that the current price of Ethereum is close to the beginning of 2021. Typically in bear markets, Bitcoin and Ethereum prices can drop up to 85%. If this holds true, an 85% drawdown from Ethereum’s all-time high of $4,800 would lead to $750 and this is the level that Wendy is watching out for. Wendy told NextAdvisor, Ethereum hit an all-time high in November 2021 at roughly $4,800, so an 85% correction would lead to around $750. However, it’s not going to be a straight shot down. Key investment strategy before next Ethereum bull run Analysts at FXStreet have recommended dollar cost averaging (DCA) as the ideal investment strategy before Ethereum’s next bull run. They consider $900 the bottom for Ethereum price and recommended $500 investments when price hit $1,000 and again when it hit $1,100. For more information, watch this video:
Altcoins: Dai (DAI), What Is It? - A Deeper Look Into The Dai Platform And It’s Stable Nature Despite Current Market Conditions

Altcoins: Dai (DAI), What Is It? - A Deeper Look Into The Dai Platform And It’s Stable Nature Despite Current Market Conditions

Rebecca Duthie Rebecca Duthie 21.06.2022 18:08
Summary: What is the Dai Platform and how does it work? Advantages of the Dai exchange. Dai’s past, present and future price positions. Stablecoins Read next: Altcoins: Decred (DCR) - A Deeper Look Into The Decred Platform  The Dai (DAI) platform Dai is a stablecoin that is based on the Ethereum (ETC) blockchain, whose development and issuance is managed by the makerDAO decentralised autonomous organisation and the maker protocol. DAI’s price is soft-pegged to the US Dollar and is collateralised by a mixture of different cryptocurrencies all of which are deposited into smart-contract vaults everytime that new DAI are minted. DAI’s are differentiated into two categories, the first being Multi-collateral DAI and single-Collateral DAI (SAI), SAI is the earlier version of DAI that was only able to be collateralised by a single cryptocurrency. In addition, SAI does not support the DAI savings rate, which is the means by which DAI holders are able to earn savings through their DAI holdings. DAI is unique mainly due to the fact that it is soft-pegged to the US Dollar. The crypto market is well known for its volatility, with even the largest, highly-liquid coins, such as Bitcoin (BTC) sometimes experiencing price changes up and down within one day. Due to the volatility, investors normally add safe-haven assets to their portfolio, whose stable price may offset market risk. One of these safe-haven assets is DAI. A stable crypto asset is one whose value is pegged to assets with relatively stable value. DAI is also managed by a decentralised autonomous via a software protocol. Therefore, all issuance and burning of tokens are managed and publicly recorded by Ethereum-powered self-enforcing smart-contracts, which makes the entire system more transparent and less prone to corruption. The current market capitalisation of DAI is more than $6.75 billion. There is a maximum supply of 6.751 billion DAI with 6.75 billion currently in circulation. Advantages of holding DAI Passive income: thanks to DAI’s unique interest-generating program, DAI Savings Rate (DSR), users are able to put idle DAI tokens to work by producing a variable interest income through a lockup period. In addition to DSR, users are also able to earn a passive income through depositing their DAI tokens directly into a MakerDAO smart-contract. The smart-contract is programmed to automatically add interest to the account. Decentralised freedom: DAI users benefit through having unrestricted access to their funds, thanks to the decentralised nature of DAI. Thanks to its permissionless and transparent system, there are no credit checks, intermediaries or approvals needed to use the DAI platform. Very secure: DAI’s platform does routine audits, DAI’s integrated wallet, two-factor authentication and other security measures all boost the security of the DAI platform. In addition the MakerDAO developers verify all smart-contracts on the blockchain to ensure both network viability and liquidity. DAI also runs on the Ethereum blockchain, which aids in keeping DAI secure. Price Stability: due to its peg to the US Dollar, the price of DAI has remained stable. Past, present and future prices of DAI (DAI) After the launch of the DAI network, the price of DAI took a while to rise after being launched, the first spike in price that occurred during the first quarter of 2020, and saw the price go above $1.85, and was followed by a sharp decline. After its first peak in 2020 the price fell and then spiked again in the same year, and continued to experience volatility until the end of 2020. Thereafter the price of DAI has remained relatively stable, this is due to its peg to the US Dollar. The value of DAI has remained stable despite the current market conditions and risk-off sentiment. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, DAI does not fall under this category. According to some analysts the future price of DAI (DAI) could reach up to $1.26 by 2024 and could see a price of more than $1.27 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. DAI Price Chart Sources: coinmarketcap.com, fool.com, cryptoperdictions.com
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Will We Pay Less For 1 ETH!? Technical Analysis of ETH/USD for June 22, 2022 | InstaForex

InstaForex Analysis InstaForex Analysis 22.06.2022 09:16
Relevance up to 07:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Paolo Ardoino, CTO of Tether, announced that the company will undergo a series of audits involving several large specialized companies. In a tweet, Tether announced that it intends to conduct a series of talks with top consulting companies in the coming days. Immediately there was speculation that the recent market crash and the collapse of Terra's stablecoin may have put the company in a difficult position and that it is trying to rectify its mistakes. On the other hand, in just one week, stablecoin faced record payouts of its currency. As much as 12% of USDT evaporated from circulation. This is one of the largest withdrawals in history. Perhaps even second to the $ 16 billion payout by Washington Mutual that led to its bankruptcy in 2008. On May 12, Tether lost its link to the dollar for several hours. Then its rate fell to $ 0.95, triggering panic in the markets. Doubts have arisen over Tether's cash reserves for some time. Apparently, the next scheduled audits are to focus on this issue. Ardoino, who has been trying to assure the solidity of the company's reserves for some time, said Tether had reduced commercial paper holdings from $ 40 billion to $ 15 billion in the past eight months. In addition, there has been a greater shift in reserves towards securities with maturities ranging from zero to three months. Technical Market Outlook: The ETH/USD pair has broken below the short-term trend line support after the second Pin Bar candlestick was done at the level of $1,191. This recent high is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,100. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/281209
Altcoins: Celsius Network (CEL), What Is It ? - A Deeper Look Into The Celsius Network Platform

Altcoins: Celsius Network (CEL), What Is It ? - A Deeper Look Into The Celsius Network Platform

Rebecca Duthie Rebecca Duthie 22.06.2022 17:24
Summary: What is the Celsius Network Platform and how does it work? Advantages of the Celsius Network exchange. Celsius Network’s past, present and future price positions. Read next: Altcoins: Dai (DAI), What Is It? - A Deeper Look Into The Dai Platform And It’s Stable Nature Despite Current Market Conditions  Celsius Network Platform The Celsius platform is an all-in-one banking and financial services platform for cryptocurrency users, it was launched in 2018, it offers users rewards for depositing cryptocurrencies along with services such as loans and wallet-style payments. Platform users receive interest payments on their holdings and regular payouts. CEL, Celsius’ native token performs a mixture of internal functions including boosting their user payouts if CEL is used as the payment currency. The Celsius Network platform aims at financial freedom without a price tag, where ethical behaviour is the baseline thing and the peoples interest is the main priority. The Celsius Network Platform encourages a financial place where everyone can succeed financially. The platform integrates a bunch of services that have been abandoned by big banks, for example, zero-fees, fair yield and extremely fast transactions. The main goal of Celsius network is to disrupt the financial industry, one user at a time and to introduce financial freedom through crypto. During the first quarter of 2018, Celsius had their first successful initial coin offering for CEL. There is a maximum supply of more than 695 million CEL, almost 239 million of those are currently in circulation. The current CEL market capitalization is more than $240 million. Celsius plans to outperform the current financial services industry by offering its users benefits that banks no longer offer, such as higher returns on deposits and savings, easier and fairer (easily obtainable) loan requirements and rewards that are automated algorithmically for each user. The platform waives penalties and bank-style fees. The Celsius platform also has a Celpay feature which functions as a wallet for users and hosts its own CEL token, which users are able to leverage to increase, amongst other things, payout value. Celsius is also a for-profit company, they take out a cut of profit margins on interest payments, still returning 80% to users themselves. The company also lends to institutional investors, such as hedge funds. Payments are ensured because loans are backed by assets, any borrower must supply more than 100% of what they borrow in the destination currency. Celsius uses a proof-of-stake (PoS) consensus algorithm for its CEL token. Advantages of the Celsius platform Robust DeFi services. Perks involved when users use its native CEL token. Celsius Network employs an easy-to-use funds transfer system called CelPay. Celsius Network ensures they have $30 million in insurance for assets that are stored in the Celsius wallet app. Residents from around 150 countries are able to trade on the Celsius network platform via desktop, Android or IOS apps. There are no fees charged for transfers, minimum balances or loan origination. Past, present and future prices of Celsius Network (CEL) After the launch of the Celsius network platform, the price of CEL took around 1.5 years to rise after its launch in 2018, the first spike in price that occurred during the first quarter of 2021, and saw the price reach almost $6, and was followed by a small decline. After its first peak in 2021 the price fell and then spiked again in the same year reaching its all time high of $7.76 in June, and continued to experience volatility until the third quarter of 2021. Thereafter the price of CEL has remained on a downward trend, this is due to the volatility of the current economic conditions. The value of CEL has been falling due to the current market conditions and risk-off sentiment. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, CEL does fall under this category. According to some analysts the future price of Celsius network (CEL) could reach up to $4.1 by 2024 and could see a price of more than $6 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. CEL Price Chart Sources: Finance.yahoo.com, coinmarketcap.com, celsius.network, fool.com, cryptonewsz.com
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

Binance Academy: (BTC) Bitcoin Dominance - What Is It?

Binance Academy Binance Academy 23.06.2022 14:43
TL;DR   Bitcoin dominance, or BTC dominance, is measured as the ratio of the market capitalization of bitcoin to that of the rest of the cryptocurrency market. Some crypto investors and traders use bitcoin dominance as a guide to adjust their trading strategies and portfolio structures.    Introduction  While there are now thousands of altcoins out there, bitcoin, the original cryptocurrency, has remained the largest digital asset by market capitalization. Observing the dynamics of bitcoin’s share in the value of the overall crypto market, traders have spotted certain recurring patterns of market conditions. Some came to use BTC dominance as a guide for their trading behavior. In particular, BTC dominance is believed to offer insight into the current general market trend.    What Is BTC Dominance? | Binance Academy   BTC dominance and market capitalization In simple terms, market capitalization refers to the total value of a certain asset in circulation. For bitcoin, the market cap is calculated by multiplying the current price and the number of BTC that have been mined so far. You can calculate bitcoin dominance with this formula: Bitcoin dominance = Bitcoin market cap/ Total cryptocurrency market cap   Factors influencing BTC dominance Changing trends Before the explosion of altcoins, it was not uncommon for bitcoin dominance to hover above 90%. As altcoins collectively gained more user and investor interest, bitcoin lost some of this almost undivided attention to other assets with greater price swings and projects boasting new exciting use cases. While bitcoin was created to change how the transfer of value worked, crypto projects have evolved to do more. Unlike bitcoin, many altcoins are involved in different sectors, including gaming, art, and decentralized financial services beyond transferring money. Depending on the current trend, there may be more interest and trading around a particular type of crypto project. For instance, the explosion of NFTs may have caused BTC dominance to drop somewhat in favor of NFT-related tokens.  Over time, bitcoin has established itself as one of the more “stable” crypto assets. Traders’ interest in more dramatic price swings and associated profit opportunities that some newer altcoins offer can also affect bitcoin dominance, leading to funds flowing into riskier assets. In this case, the sectors these altcoins represent may not matter as much as the potential profits. Bull or bear market Over the last several years, there has been a general rise in the popularity of stablecoins, a trend that exerted sustained pressure on BTC dominance. More specifically, in a bear market or in times of volatility, stablecoins are often used to protect crypto investors’ funds amid falling prices. A stablecoin is an altcoin designed to maintain value equal to that of an asset with a more stable price, such as a fiat currency or commodity. Crypto investors and traders often use stablecoins to lock in profits without having to convert their crypto to fiat. When funds move out of the BTC market and into stablecoins, BTC dominance could go down. The inverse is likely in a bull market. When the market is up, traders can be incentivized to move value from stablecoins into more volatile assets that offer more trading opportunities, like bitcoin. However, emboldened traders may also choose riskier options and pump liquidity into altcoins that are even more volatile than BTC, so the overall effects of favorable market conditions on bitcoin dominance are highly context-dependent. On-ramping via stablecoins Stablecoins offer a convenient way to access a wide variety of cryptocurrencies compared to using fiat. This is because while there are fiat-to-crypto exchanges called gateway exchanges, they can be restrictive and only offer the more popular cryptocurrencies and stablecoins. Crypto-to-crypto exchanges, however, often provide a more comprehensive selection of cryptocurrencies tradable with select stablecoins. Hence, people who want to trade specific cryptocurrencies may enter the market via stablecoins. Naturally, if a significant amount of new funds enter the market through stablecoins and not bitcoin, the total value of the crypto market increases, causing a dilution in BTC dominance. Emergence of new coins Sometimes, new coins that enter the market can gain popularity quickly, causing BTC dominance to decrease. Remember that bitcoin is “fighting” with every other cryptocurrency in the market, so the emergence of several popular altcoins at once may affect it. However, there’s a chance that these altcoins may lose popularity after the hype dies down. If that happens and funds are moved from these altcoins to BTC or out of the crypto market entirely, BTC dominance may rise again.   Using BTC dominance in trading Wyckoff Method Developed in the early 1930s, the Wyckoff Method is a set of principles designed for traders and investors in traditional financial markets. Some of these principles, such as the law of cause and effect, can be applied when seeking profit opportunities using BTC dominance.  Many traders and investors use the Wyckoff Method to identify a market trend, estimate the likelihood of a trend reversal, and time trades. According to Wyckoff, trading behavior is organized into four phases: Accumulation, markup, distribution, and markdown. Identifying where and when funds flow can be important for some traders who rely on timing the market to make informed trading decisions.  Diversified traders and investors often use this approach to pick the stronger trend. Below are several scenarios where the Wyckoff Method is at play.  Using BTC dominance to spot altcoin season With the increasing number of altcoins in the market, it is unsurprising that bitcoin dominance is being diluted. In recent years, some altcoins have gained more popularity, causing the total market cap of all altcoins to briefly surpass that of bitcoin. Periods when altcoins steadily outperform bitcoin are known as “altcoin season” or “alt season.” Under the Wyckoff Method principles, such movement of funds from bitcoin to altcoins is cyclical. Because altcoins tend to perform better during an altcoin season, bitcoin may see its dominance weaken during this phase of the market cycle. Therefore, people who trade both bitcoin and altcoins may monitor bitcoin dominance to adjust their portfolios accordingly. Using BTC dominance with current bitcoin price Some people monitor bitcoin price along with bitcoin dominance to help them make trading decisions. Although they are not iron laws, here are some potential outcomes that various combinations of BTC price and dominance may be indicative of. When the price and dominance of BTC are rising, it could signal a potential bitcoin bull market.  When the price of BTC is rising but BTC dominance is falling, it could signal a potential altcoin bull market.  When the price of BTC is falling but BTC dominance is rising, it could signal a potential altcoin bear market. When the price and dominance of BTC are falling, it could signal a potential bear trend for the entire crypto market. While these two factors do not imply a definite bull or bear market, historical observations suggest a correlation.    Closing thoughts BTC dominance is a tool to help shed light on how the market cycles are changing. Some traders use it to adjust their trading strategies, while others use it to manage their diversified portfolios. Note that BTC dominance does not guarantee the performance of bitcoin or any other crypto but acts as a guide to help traders plan their trading approach.
Altcoins: Klaytn (KLAY), What Is It? - A Deeper Look Into The Klaytn Platform’s Metaverse

Altcoins: Klaytn (KLAY), What Is It? - A Deeper Look Into The Klaytn Platform’s Metaverse

Rebecca Duthie Rebecca Duthie 23.06.2022 16:46
Summary: What is the Klaytn Platform and how does it work? Advantages of the Klaytn exchange. Klaytn’s past, present and future price positions. Read next: Altcoins: Celsius Network (CEL), What Is It ? - A Deeper Look Into The Celsius Network Platform  The Klaytn Network Klaytn is an open-source public blockchain for all who wish to play, build or in the metaverse. The Klaytn platform is a public blockchain that is focused on gamefi, the metaverse and the creator economy. The platform was launched in June 2019, it is South Korea's most dominant blockchain and is currently in the process of undergoing a global business expansion from its international base in Singapore. The expansion of the network is funded by the Klaytn growth fund, which has plans for the ecosystem built on Klaytn. The fund is managed and disbursed by the Klaytn foundation, a Singapore based non-profit organisation that was established in August 2021. The Klaytn Foundation offers partnerships to artists, enterprises or studios. Klaytns native token is KLAY, there is a maximum supply of 10.782 billion tokens, 2.88 billion of those are currently in circulation. The current market capitalisation is more than $706 million. Factors that make Klaytn Unique In an attempt to simplify building for the metaverse, Klaytn offers an end-to-end metaverse package which includes customised L2 solutions, smart contract libraries and SDKs, IPFs solutions, chain explorers, wallets, bridges and oracles, ecosystem of supporting services such as stablecoin integration, tradfi interfaces, NFT marketplaces, and more. 1-second deterministic finality: Klaytn makes use of an optimised version of Istanbul BFT, which allows transactions to achieve absolute finality within a second, this allows for a responsive user experience and enables use cases where near-instant and irreversible finality is possible - for example, real time minting of in-game item drops. Klaytn’s data guarantee: probabilistic finality is exhibited through the use of both proof-of-work (PoW) and proof-of-stake (PoS) blockchains, this means that there is a slight chance that a transaction that is recorded on the chain could be reversed. Thus, making blockchains such as these are unsuitable for mission-critical applications, especially if used at scale. Klaytns IBFT consensus algorithm guarantees that any data that is recorded on the blockchain is correct and will never be reversed, in order to deliver the data consistency and reliability that is needed for large-scale applications. Support for Ethereum equivalence: Klaytn supports EVM as one of the emerging standards for the metaverse and Web3, and will be adopting the EVM specification by: ‘ Making Klaytn’s technical stack equivalent to the Ethereum stack from an interfacing and execution perspective, Building on top of existing Ethereum clients and interfacing libraries to inherit any improvements made to their open-source codebases, Enabling Ethereum Improvement Proposals (EIPs) and Klaytn Improvement Proposals (KIPs) to contribute to both ecosystems.’ Unique governance structure: at the centre of Klaytn’s unique view on decentralisation is their governance council (GC) which comprises leading global enterprises and DAOs across both geographies and industries. The members of the GC come together to form a tight validator network that is able to deliver the benefits of a decentralised blockchain whilst simultaneously maintaining the performance of a permissioned blockchain. Built-in scalability via service chains, $1 billion protocol-level ecosystem fund, the preferred enterprise level blockchain. Past, present and future prices of Klaytn network (KLAY) After the launch of the Klaytn network platform, the price of KLAY took around 6 years to rise after its launch in 2019, the first spike in price that occurred during the third quarter of 2020, and saw the price reach almost $0.85, and was followed by a small decline. After its first peak in 2020 the price remained fairly stable and then spiked again during the second quarter of 2021 reaching its all time high of $3.75 in April. Thereafter, the price has been consistently falling and experiencing volatility. The price of KLAY has remained on a downward trend, this is due to the volatility of the current economic conditions. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, KLAY does fall under this category. According to some analysts, the future price of Klaytn network (KLAY) could reach up to $0.8 by 2026 and could see a price of more than $1.94 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. KLAY Price Chart Sources: finance.yahoo.com, klaytn.foundation, coinmarketcap.com, cryptopolitan.com
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Uncertain Rebound and Inflation Data: How Likely Is Bitcoin To Fall Again?

InstaForex Analysis InstaForex Analysis 24.06.2022 13:40
Relevance up to 10:00 2022-06-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. It is safe to say that Bitcoin has gone through one of the most difficult periods in its history. Cryptocurrency has experienced the most massive sell-off and profit-taking in its history. Thus, the asset completed the fifth phase of the bear market, which is called "panic." If we believe this conditional division of the crypto winter into cycles, then we are at the final stage of the global price decline. But despite all the pain and the losses for investors, there are several warning signs that may indicate another attempt to find a local bottom.     First of all, we are talking about the formation of the current market bottom at $17.7k. On the daily chart, you can see that there was no price rebound as such. Most likely, this should be regarded as the depletion of the downward potential. The volumes of buying activity during reaching the local bottom of the market were at a low level. We didn't see a long lower candlestick shadow like we did in 2021. This suggests that the bears have realized all their goals, and the bulls could not oppose this.     The same can be said about the current period of consolidation. It was not preceded by an active upward correction, which is typical after any strong price movement. Instead, we see hesitant Doji candles with long wicks. All these factors together indicate a complete lack of buying initiative and the volumes necessary for an upward movement. The dynamics and results of the return of BTC/USD above $20k became possible due to the termination of the sale by the miners.     It is no longer a secret to anyone that it was the cryptocurrency mining companies that became the main sponsor of the Bitcoin price drop below $20k. The downward potential of the bears was exhausted, and only the aggravated problems of the miners provided the sellers with the necessary volumes for the price to drop below $20k. Mining firms sold off all BTC accumulated in May 2022.     In addition, since June 14 alone, companies have sold more than 18,000 Bitcoins, which has been a serious pressure on the price. If you look at the chart, it turns out that it was after June 14 that the price crusade below $20k began. As of June 24, miners have stopped the mass sale, and even resumed accumulation. However, the nature of the rebound from $17k may indicate that the $17k level will not hold if there are repeated problems.         Repeated problems are quite possible already in early July. The main catalyst for the current decline in BTC was just negative data on inflation in the United States. Fed Chair Jerome Powell said at his last meeting that the current rate of inflation growth is forcing the Fed to act tougher, but later we will monitor the indicator and rely on the results when determining the level of the key rate hike.     After the events of early June, when, contrary to market expectations, it turned out that the Fed does not control the level of inflation, players will closely monitor the level of consumer price growth. With the war in Ukraine continuing and the US announcing new military and economic aid, there is no doubt that inflation is still capable of delivering unpleasant surprises to the market.     The fundamental and technical features of Bitcoin indicate that the asset can retest $17k, and possibly go lower. However, based on the historical context of the movement of BTC/USD quotes, we can say that the likely decline will be the last in the current bear market. In the history of Bitcoin, there have been many cases when the formation of a local bottom was due to a repeated price decline.   Read more: https://www.instaforex.eu/forex_analysis/314444
5 Cryptocurrencies That You Probably Forgot About - Aqru (APY), Terra (USDT), Polkadot (DOT), Tron (TRX), Monero (XMR)

5 Cryptocurrencies That You Probably Forgot About - Aqru (APY), Terra (USDT), Polkadot (DOT), Tron (TRX), Monero (XMR)

Rebecca Duthie Rebecca Duthie 24.06.2022 14:10
Summary: A summary of APY, USDT, DOT, TRX, XMR Listed equities, stablecoins, dApps Proof of work, proof of stake, proof-of-history. Aqru Trading Platform Aqru cryptocurrency is one of the only listed equities primarily offering exposure to the DeFi sector. Aqru currently offers a yield on certain cryptos such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC) and Dai (DAI). In order to ensure security for its users whilst they earn interest, Aqru makes use of encryption in transit, encryption at rest and address whitelisting. Users are able to protect their assets with their bank level security and deposit protection insurance, this happens because Aqru makes use of a multi-layered insurance policy, this protects the value of users assets from hacking. In addition Aqru uses the latest Multi-stig technology from Fireblocks (a leading wallet provider) to keep users' assets safe. To give their users peace-of-mind, Aqru generates yield from leading providers that have robust audit histories and those that have significant assets under management. In addition, yield opportunities are monitored by the experienced risk management committee to ensure Aqru stays ahead of all market trends. Read more: Making Interest On Crypto Holdings!? Aqru: Cryptocurrency Staking Platform  Terra USDT Platform Terra is a public blockchain protocol that deploys a suite of algorithmic decentralised stablecoins which underpin a thriving ecosystem which brings decentralised finance to a large number of users. Terra assets are supported by leading blockchains.The protocol uses a combination of open market arbitrage, incentives and decentralised oracle voting. With this combination, Terra makes stablecoins that track the price of any fiat currency. Terras protocol is scalable, which is designed to maintain Terras price stability regardless of volatility, demand or market size. Terras protocol incentivises validators and delegators with staking rewards, in the form of gas and swap fees Terras coin uses a proof-of-stake model, which means validators verify transactions based on the number of coins they hold. Proof-of-stake models are less energy intensive than some competing models. Read more: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol  Polkadot (DOT) Platform Polkadot is an open-source protocol built for everyone, it is founded by the Web3 foundation. The Web3 foundation has commissioned 5 teams and over 100 developers to build Polkadot. The aim of Polkadot is to enable a completely decentralised web whereby the users are incontrol. The protocol is built to connect private and consortium chains, oracles, public and permissionless networks and future technologies that are yet to be created. Polkadot features include: true interoperability, economic and transactional scalability, easy blockchain innovation, security, user-driven governance. Security is ensured through the use of proof-of-stake consensus algorithms. Polkadot’s purposes: governance, staking and bonding. Read more: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol  TRON (TRX) platform TRON is a decentralised, open-sourced blockchain-based operating system which has smart contract functionality and a delegated proof-of-stake principle as its consensus algorithm. TRX TRON cryptocurrency platform uses a transaction model that is similar to Bitcoin. Transactions take place in a public ledger, where users are able to track the operations history. The TRON platform was created to decentralise the internet and serves as a tool for developers to create decentralised applications (dApps), this acts as an Ethereum alternative. The creation of decentralised applications and creating content on the TRON network is available to anybody. This delegated proof-of-stake is an alternative to the proof-of-stake (PoS) and proof-of-work (PoW) consensus algorithms. The delegated proof-of-stake system is a competitive advantage for the TRON network as it makes it much more energy efficient. JustLend is TRONs first official lending platform, the lending platform interest rates of its fund pools are determined by an algorithm based on TRONs asset supply and demand. JustLend aims to build a decentralised lending protocol and hopefully become TRONs first official algorithm-powered decentralised bank. Read more: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network  Monero (XMR) platform Monero is a privacy-orientated and open-source cryptocurrency. Its blockchain is not transparent, this makes every transaction untraceable and maintains the users’ anonymity. Its privacy makes Monero an attractive tool to use for illicit activities on the dark web. Investors are able to mine Monero using their own CPUs, which means paying for special hardware is not necessary. Moneros mining concept is based on the belief that every person using the platform is equal and therefore, deserves equal opportunities. Because there is no transparency in Monero and its untraceability, it is a true fungible currency. Fungible in this context refers t o the property of a currency where two units can be substituted in place of one another. Those who accept Monero transactions do not need to be concerned over tainted or blacklisted coins. Read more: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!?  Sources: fxmag.com
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

ETH: End Of Crypto Crash!? Is Ethereum (ETH/USD) Going To Increase By 45%!? | FXStreet

FXStreet News FXStreet News 24.06.2022 16:36
Ethereum price sees momentum building for a pop towards $1,243.89. With several central banks this week signalling near the end of the rate hike cycle, markets are finding equilibrium. Expect that space ETH price to rally higher and could return to $1,688.39. Ethereum (ETH) price is technically set to make a killing with a possible 8% intraday gain in sight and, in the near term, a whopping 45% gain forecast. The sudden change comes after a few central banks signalled that the end of their monetary tightening is near, and comments from Powell make clear that the FED will push the US into a recession deliberately to cut short inflation and, by doing so, could trigger a massive weaker dollar. That opens up massive room for ETH price action to manoeuvre in, return to the base of the triangle at $1,688.39 and book 45% gains. ETH price gearing up for 45% gains Ethereum price opens quite bullish this morning in the ASIA PAC session after bulls faced headwinds this week but look to survive and eke out weekly gains going into the weekend. As grim and dire as last week's outlook, the background is changing this week with different rhetoric as markets assess the new information from central banks. As it stands, the congressional hearing of Powell revealed that the FED is planning to push the US into recession to tame inflation deliberately. ETH price could trade off this information as a recession in the US would mean a weaker dollar, and several other central banks have notified markets that they are near ending their tightening path, which means that money conditions could start to normalize again with cash inflow set to restart for cryptocurrencies. On the back of that, ETH price could jump above $1,243.89 and have the field wide open to rally in, with sight set on the base of the bearish triangle from May at $1,649.37. ETH/USD daily chart The delicate equilibrium currently playing with the situation in Ukraine and Russia could easily break down again with the cut-off from supply chains to the Russian enclave Kaliningrad. That could see a Russian military response and ramp up tensions again on the geopolitical stage. That would come with a wave of risk-off again and smash ETH price back to $1,000 and possibly see it slip back below $900 for support. Do not even rule out a test at $830.93 at the pivotal historic level already marked up.
Bitcoin Is Showing The Potential For The Further Downside Rotation

Is Owning Altcoins (ETH, Cardano) Instead Of Bitcoin (BTC) A Better Option!? BTC Dominance Decreased!

Alex Kuptsikevich Alex Kuptsikevich 27.06.2022 12:15
Bitcoin gained 3.8% over the past week, ending around $21.4K, dropping slightly to $21.2K on Monday morning. Ethereum added 9.4%, while other top-ten altcoins gained between 4.6% (Cardano) and 19.3% (Dogecoin). The total capitalisation of the crypto market, according to CoinMarketCap, rose 8% over the week to $952bn. The Bitcoin Dominance Index slipped 0.9 points to 43.4% over the same period due to the outperforming recovery of altcoins. Cryptocurrency Fear And Greed Index The cryptocurrency fear and greed index went up to 12 points by Monday, from 9 a week earlier, but remained in the extreme fear zone. Bitcoin has risen above 20K in the past week, although its recovery has been more subdued than the stock market. This performance of the first cryptocurrency may indicate that investors continue to sell off the first cryptocurrency on the rise, moving into altcoins. Crypto Market Capitalisation In the coming days or weeks, the important thing will be the performance of the crypto market capitalisation without BTC. Temporarily dipping below 2018 highs near $500B, the Crypto cap ex-BTC is showing a solid rebound, much more active than BTCUSD. However, it remains to be seen how sustainable this bounce will be. CNBC broadcaster and author of the famous Mad Money programme, Jim Cramer, believes that bitcoin will be able to partially recoup its June losses in the coming months. However, aggressive long-term growth is unlikely. According to him, the rebound before another fall will provide good opportunities to sell previously bought assets. Gary Gensler, head of the US Securities and Exchange Commission (SEC), is pushing for a single set of rules for cryptocurrencies that would bring together all regulators and strengthen industry regulation. Cardano co-founder Charles Hoskinson told the US Congress that the SEC and CFTC would not be able to handle oversight of the cryptocurrency industry. In his view, it could self-regulate along the lines of the banking industry. According to a Paxos survey of regular physical gold buyers, nearly one-third of respondents see bitcoin as a better alternative to that precious metal.
Altcoins: The Sandbox (SAND), What Is It? - A Deeper Look Into The Sandbox Platform, A World For The Gaming Community

Altcoins: The Sandbox (SAND), What Is It? - A Deeper Look Into The Sandbox Platform, A World For The Gaming Community

Rebecca Duthie Rebecca Duthie 27.06.2022 19:05
Summary: What is The Sandbox Platform and how does it work? Advantages of The Sandbox exchange. The Sandbox’s past, present and future price positions. Read next: Altcoins: Klaytn (KLAY), What Is It? - A Deeper Look Into The Klaytn Platform’s Metaverse  The Sandbox Platform The Sandbox platform was launched by Pixowl in 2011. It is a block-chain based virtual world that allows users to create, buy, build and sell digital assets in the form of a game. The combination of decentralised autonomous organisations (DAO) and non-fungible tokens (NTFs) the Sandbox creates a decentralised platform for a gaming community that thrives. In accordance with the whitepaper, the Sandbox platform’s main mission is to successfully introduce blockchain technology into mainstream gaming. The platform's focus is on facilitating a “play-to-earn” model creatively, which allows users to be both gamers and creators simultaneously. The power of blockchain technology for the Sandbox came with the introduction of the SAND utility token, which facilitates the platform's transactions. There are a maximum number of 3 billion SAND tokens, 1.26 billion of these are currently in circulation. The current market capitalisation is more than $1.485 billion. The Sandbox platform was built on top of the Ethereum blockchain and it is secured with the proof-of-stake consensus algorithm, the SAND token is a standard ERC-20 token, this means owners can stake it and benefit from its staking rewards. Sandbox’s Uniqueness The Sandbox is unique due to the fact that it introduces blockchain technology to the gaming world. The gaming industry is largely untapped when it comes to blockchain technology adoption. Pixowl took advantage of this and they created a universe whereby gamers can collect and create blockchain-based assets, the Sandbox aims to revolutionise this market and make a niche for itself in the global gaming market. The Sandbox creates a metaverse of involved players who contribute to the platform's further development through focusing on user-generated content. In addition, by creating their SAND token, they decentralised their governance and allowed users to share their ideas and views about the project's development. The Sandbox is made up of 3 products: VoxEdit, which allows users to animate and create 3D objects in the metaverse such as tools, people, animals and more. These objects are referred to as ASSETS and use the ERC-1155 token standard, this allows for both Non-fungible and fungible tokens to be minted with a single smart contract. The Sandbox marketplace, a place where users can sell and publish their assets after first uploading them to the InterPlanetary File System (IPFS). The Sandbox Game Maker allows users to create 3D games for free. Advantages of the SAND network The Sandbox idea is original, and goes far beyond the mere decentralisation of gaming on the blockchain. It revolutionises the idea of building a complete and total gaming universe on the Ethereum blockchain. The Sandbox tokens are far beyond being just assets. The Sandbox’s decentralised protocol makes it simple for its users to sell, buy and trade different products and services within the Sandbox metaverse. Sandbox has put the NFTs to good use within its platform. The NFTs used on the Sandbox platform turn each virtual world object and land plot into a unique property that becomes an income generator for its owner. Thes NFTs mentioned above mixed with the decentralised protocol present in The Sandbox ensures the safe and secure ownership of the assets in the universe. All users can engage in governance. The Sandbox regularly uses the AMA (Ask Me Anything) format for the education of the platform's community. Past, present and future prices of The Sandbox network (SAND) During the last quarter of 2020 and the first month of 2021, the price of the Sandbox’s SAND token began to rise, hitting its first spike in March of 2021, the price reached $0.83 this first spike was then followed by a small decline. After its first peak in 2021 the price began to climb at a staggered rate, reaching its second peak during November of 2021, the price reached as high as $6.7.The second peak was followed by a staggered, but steady decline. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, SAND does fall under this category. According to some analysts, the future price of The Sandbox networks (SAND) could reach up to $5 by 2026 and could see a price of more than $10 by 2032. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. SAND Price Chart Sources: coinmarketcap.com, finance.yahoo.com, leofinance.io, gemini.com, coinpriceforecast.com
Altcoins: Chronoly (CRNO) - A Watch NFT !? A Deeper Look Into the Chronoly (CRNO) Platform

Altcoins: Chronoly (CRNO) - A Watch NFT !? A Deeper Look Into the Chronoly (CRNO) Platform

Rebecca Duthie Rebecca Duthie 28.06.2022 14:58
Summary: What is The Chronoly Platform and how does it work? Advantages of the Chronoly exchange. Chronoly’s past, present and future price positions. Read next: Altcoins: The Sandbox (SAND), What Is It? - A Deeper Look Into The Sandbox Platform, A World For The Gaming Community  The Chronoly Platform Chronoly is at the present time, the only altcoin whose value is backed by real assets. In the case of Chronoly, the assets that are backing this crypto are, at the present, only investment-grade luxury watches. The Chronoly platform is the world's first fractional watch investment platform on the Ethereum blockchain. The Chronoly crypto made its debut in May of 2022. Chronoly stores each of its classic watches securely in a vault, but before they do this, there is an exact replica model made in the form of an NFT (Non-fungible token). Each NFT thereafter is fractionalised so that a single fraction of the NFT can be sold for as little as $10. Thus, everyone who buys into a Chronolgy NFT buys a small part of the watch. Chronoly holders are able to trade their NFTs either on the Chronoly marketplace or OpenSea. Chronoly users are also able to stake their CRNO coins in return for a passive income and they even have an option to borrow against the value of their coins. The fact that users can borrow against their coin value is made possible by the fact that the Chronoly (CRNO) token is backed by real value. In addition, all CRNO token holders are automatically entered into a free monthly lottery and the lucky winners receive a watch for free. Chronoly claims to bring additional value and liquidity to their community and aims to disrupt the luxury watch market. They are aiming to democratise the luxury watch market and to break down the barriers to entry for luxury watch ownership. In addition, they are adding liquidity to the luxury watch market through fractionising and collateralising lending facilities which unlock liquidity in a tangible and historically illiquid asset class. They are also decentralised, holders can trade their watch NFTs on either the Chronoly platform or on other third-party ethereum compatible marketplaces. Chronoly Ecosystem Features The Chronoly makers are working on creating a foundation that is steady, which they hope will help support and sustain the Chronoly Ecosystem; they hope that through their expansion plans, they will create a “Chronoverse” that will seamlessly connect with the metaverse through blockchain technology. The marketplace is an application that allows users to sell, buy and fractionally invest in luxury watch NFTs, which are backed by the physical watch. The lending protocol is a lending facility that allows users to borrow against their physical watch and their NFTs at a competitive rate on the blockchain. The rewards club is the dedicated watch concierge service and private members club that allows members to gain access to exclusive NFT drops, watch networking events, and more. Pros and Cons of the Chronoly network Pros Offers decentralised aspects. Platform offers staking and lending. Investors can earn passive income through staking. Prize draws. Cons Market hype is inflating the price of CRNO. Past, present and future prices of the Chronoly network (CRNO) Since its debut in early May 2022, the price of CRNO has risen by more than 400%. Over the past month, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, strictly speaking CRNO does fall under this category however, they have still managed to see strong gains since its launch. According to some analysts, the future price of the Chronoly networks (CRNO) could jump up to 2500% and reach up to $0.5 by July 2022. Due to the fact that it is a brand new crypto, there are few reliable sources regarding future prices of CRNO tokens. However, based on the assumption already made, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Sources: chronoly.io, coinspeaker.com, thebitcoinist.com, analyticsinsight.net.
Altcoins: KuCoin - REV3AL - What Is It?

Altcoins: KuCoin - REV3AL - What Is It?

Kucoin Blog Kucoin Blog 29.06.2022 12:56
Table of Contents: · What is REV3AL? · How does REV3AL work? · What makes REV3AL unique? · Who created REV3AL? · Closing thoughts The online creative industry has for a long time been plagued by counterfeiting and theft. To solve this problem, non-fungible tokens (NFTs) cropped up, giving creators a chance to earn from their work. However, NFTs also made it easy for malicious actors to sell stolen art.   NFT technology does have multiple shortcomings however that affect both creators and collectors. For instance, the technology does not offer details about the original creator of a piece of art. Additionally, it is difficult for IP owners to enforce copyright claims.   NFT collectors also lack ways to verify the authenticity of the digital collectibles they possess. The only way to verify an NFT’s authenticity is by auditing the blockchain which can be a complex task. As a result, the value of the asset can be in question.   Additionally, there isn’t multi-factor authentication for digital assets. This defect forces users to trust traditional contracts or agreements or to accept the NFT’s authenticity of the digital asset based on trust.   REV3AL is launching as a multi-layered authentication and copyright protection technology solution to protect collectors, brands, and IP owners against counterfeiting and intellectual property theft. The technology platform and upcoming API allows artists and creators to secure the authenticity of digital media prior to minting and ensure NFTs are authenticated at the point of creation. This provides IP owners with cutting-edge and dynamic layers of protection against counterfeiting.   On the other hand, collectors can use REV3AL to verify and maintain the value of NFTs and digital media assets. REV3AL offers visual, on-platform, and physical multi-factor authentication of digital assets. Check out what is REV3AL by watching this video on KuCoin YouTube channel: https://youtu.be/NhTrVGFGCNg   How Does REV3AL Work? REV3AL technology applies to any digital assets on or off the blockchain. The REV3AL platform is blockchain-agnostic and features a multi-layer authentication system, secure asset registry, and a portable API solution for seamless integration into multiple platforms.   Through the REV3AL platform, users can authenticate digital media assets before launch, verify the authenticity of NFTs, and reveal counterfeit or altered media. The platform leverages three principles of anti-counterfeit protection. These are overt, covert, and forensic security techniques.   Overt features can be seen without a tool or in-depth interaction, while covert features are obscure and hidden. Forensic features require in-depth knowledge and interrogation or specialized tools to verify.   REV3AL leverages several authentication layers from the above categories to create an effective and dynamic anti-counterfeit solution. Just like a door with multiple keys, passcodes, and biometrics, while a thief might be able to overcome one of the systems, they cannot bypass all protective mechanisms.   REV3AL seeks to prevent multiple forms of counterfeiting, starting from simple screenshots, fake posts/listings, removal of copyrights, and alteration of secure data for digital IDs, certificates, and tickets.   Apart from the certification and authentication solution, REV3AL plans to roll out a secure marketplace and metaverse through partnerships with leading VR/AR players. This marketplace will offer users a curated experience allowing them to view artwork and digital products in dynamic virtual environments.   The REV3AL (REV3L) token will play a massive role in the verification of digital assets, and the REV3AL community will be responsible for enabling these functions, with community members getting incentives for their work.   REV3L will also offer holders the ability to vote on certain marketplace projects, access to community-only sections of the REV3AL marketplace, early access to NFT and artwork auctions and pre-sales, NFT airdrops, and community rewards, among other benefits.   By taking REV3L, community members will get a chance both to earn and contribute to charitable causes as the platform will dedicate a fraction of the yield to support independent and direct charity organizations that focus on mental health, youth empowerment, and the environment.   What Makes REV3AL Unique? REV3AL leverages hybrid technology, which simplifies its use in sec tech, ad tech, and event tech applications. Unlike other anti-counterfeiting platforms, REV3AL is developing a way to view secure data offline including in the physical world.   This feature would further prevent third parties from intercepting data to orchestrate attacks, and by leveraging image encryption, REV3AL hopes to make its solution futureproof and resistant to sophisticated attacks. With multiple future applications for secure messaging, seed phrase storage, and multi-factor authentication, among others.   Who Created REV3AL? The team behind the REV3AL project has decades of combined experience across cybersecurity, technology, product & IP development, and the creative industries. The management team includes Mo Kumarsi as Chief Executive Officer, Adam Russell as Chief Revenue Officer, Eric Prouty as Chief Product Officer, Georgina Woolams-Edwards as Chief Marketing Officer, and Bernard O’Flynn as Chief Technology Officer.   REV3AL also has a robust team of advisors, including Forward Protocol co-founder Karnika Yashwant, NFT Technologies CEO Mario Nawfal, MetaVrse founder Alan Smithson, HBAR Foundation’s Alex Russman, and MetaVgroup co-founder Enzo Wolf, among others.   The REV3AL team has over 50 strategic partners including investment, technology, metaverse, and blockchain partners like Hedera Hashgraph, MetaVrse, Alphabit, MetaVgroup, Emmersive, Near Protocol, Lauchpool, Uplift, TCG World, and Origin, to name a few.   Closing Thoughts REV3AL provides a solution to a problem that is damaging and could significantly slow the growth of the digital asset and NFT markets. Through its proprietary solution, which focuses on creators and collectors, REV3AL positions itself as a leader in the burgeoning web3 ecosystem.     Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe YouTube Channel>>> Source: KuCoin | Cryptocurrency Exchange | Buy & Sell Bitcoin, Ethereum, and more
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Crypto Faucet - What Is It? | Binance Academy

Binance Academy Binance Academy 15.06.2022 23:53
TL;DR A crypto faucet lets users earn small crypto rewards by completing simple tasks. The metaphor is based on how even one drop of water from a leaky faucet could eventually fill up a cup. There are various kinds of crypto faucets, including bitcoin (BTC), Ethereum (ETH), and BNB faucets.   Introduction The earliest crypto faucet may be a bitcoin faucet created in 2010 by the then-lead developer of the Bitcoin network named Gavin Andresen. It gave 5 BTC for free to each user who completed a simple captcha. This bitcoin faucet eventually gave out 19,715 BTC in total, helping to distribute early BTC ownership widely. It was instrumental in educating the initial network of bitcoin users, leading to the cryptocurrency’s healthy growth later on.  Naturally, no crypto faucets would deliver such massive payouts today as bitcoin and other cryptocurrencies’ prices have increased significantly. But emerging crypto projects still need to attract new users, and there are many people out there who want to learn about crypto. Crypto faucets play a role in connecting the supply and demand. You can think of faucets as coupons you sometimes get for downloading a new app to your phone or enrolling into a new online service. But with crypto faucets, you need to complete tasks to earn the reward in tiny pieces. As such, using faucets is a good way for beginners to start their journey with crypto.   Source: What Is A Crypto Faucet? | Binance Academy   How do crypto faucets work?  Crypto faucets are generally made to be simple and user-friendly. Users usually need to register an account with the digital asset service first. There are also dedicated crypto faucet sites and apps that specialize in offering free crypto to users who complete simple tasks. In both cases, users should have their crypto wallets to receive the rewards and may sometimes be asked to verify their identity. Users are offered to complete tasks that can include watching videos, reading articles, watching ads, playing games, and taking quizzes or surveys. The service can also ask users to refer friends to it. These tasks are relatively straightforward, and most people would have no problem completing them. But, in some cases, the tasks can be rather time-consuming. Upon completing the required tasks, users are rewarded with small amounts of crypto. However, if you use a faucet consistently, the rewards can compound over time and reach more meaningful amounts. Note that some websites and apps may require users to accumulate their rewards to a minimum amount before they can cash out (for example, $5 worth of crypto at a minimum).   What types of crypto faucets are there?  One way to categorize crypto faucets is by the token paid out as a reward. There are bitcoin, Ethereum, BNB faucets, and many more. For example, when using bitcoin faucets, users can earn rewards denominated in satoshis, the smallest unit of BTC. There are also crypto faucet aggregation websites that offer users multiple options depending on which token they prefer to claim their rewards in. Crypto faucets are different from airdrops in that the latter follow a predetermined schedule of reward distribution. Airdrops are usually given to those holding a specific token or using a crypto wallet to raise awareness of a particular project.  Crypto faucets are also different from bounties, which refer to a list of reward-earning tasks published by a blockchain project. Bounties are a way for a blockchain project to ask the public for community assistance and offer one-time crypto rewards for anyone who can complete specific tasks.   What are the risks of crypto faucets?   You must be extremely careful when using crypto faucets as scams and fraud are common among such offerings. Some websites or apps posing as crypto faucets could infect your computer with malware that can harm your machine and the data stored on it. It’s always a good idea to DYOR and rely on established brands that you trust. Another potential downside is that the rewards you get could be too small or the tasks too time-consuming to make them worthwhile. In some cases, users reported that a week of active participation in crypto faucets has only led to less than $1 worth of crypto in rewards. Ideally, you should find crypto faucets with a good reputation and that are most likely to generate enough crypto rewards to justify your time and efforts.     Closing thoughts Crypto faucets have become more sophisticated and diverse compared to their early days of giving out free bitcoins for solving simple captchas. To get started with crypto faucets, remember that extensive and careful research should be the first step.  Be mindful of lofty promises and suspicious-looking websites. Rely on reputable and established brands that you trust. If you use crypto faucets correctly and consistently, tiny drops of crypto could eventually become a meaningful amount, especially if the market value of the tokens you’ve accumulated goes up.
NFT As A Part Of Final Fantasy VII Anniversary Celebration

Crypto Market Is Unpredictable! NFT: Snoop Dogg, Eminem And... BAYC!? | crypto.com

Crypto.com Accelerate the... Crypto.com Accelerate the... 29.06.2022 15:02
Snoop Dogg and Eminem feature BAYC NFTs in music video. Uniswap acquires NFT marketplace aggregator Genie. eCommerce giant Shopify incorporates NFTs into a new service. Key Takeaways American rappers Snoop Dogg and Eminem have released their new music video featuring their Bored Ape NFT characters. Visitors of ApeFest in New York were the first to see the music video, titled ‘From The D 2 The LBC’. Last week, Uniswap Labs announced that it has acquired the popular NFT marketplace aggregator Genie. It signals the company’s move to support NFT trading and integrate NFTs into its products, starting with the Uniswap web app.  eCommerce giant Shopify is betting big on NFTs by introducing ‘token-gated commerce’ on its platform. This feature allows brands to provide a new way to connect with their fans and make their shop more exclusive on the platform, through the use of NFTs. LooksRare recorded +31% and +7% increases in sales and transactions, respectively. OpenSea‘s sales and transactions were negative, at -17% and -2%, respectively. Crypto.com NFT in the Spotlight Arseniy Valter is a 3D/mixed media artist that morphs imagination, inner feelings, and life stories onto a digital canvas. “equilibrium” is not just a collection, but a landmark of our technological era. Instead of using sentences and words, the artist created musical compositions to tell each story in its own unique way. Senbenito is a French photographer and artist since 2016. “Neon Spirits” is a series of original photos edited in a cyberpunk/glitchy aesthetic. This drop focuses on new types of glitches spotted in Japan. Highlights Magic Eden attains unicorn status following $1.6 billion valuation Doodles NFTs announces Pharrell as Chief Brand Officer, fundraising led by Alexis Ohanian Rarible reduces NFT marketplace fees to 1% per party Kakao’s Klaytn partners with OpenSea for NFT expansion in Asia BitGo launches first NFT custody platform for US institutions DeviantArt emerges to defend the copyright of everyday artists Rolling Stone to release two NFTs in partnership with BAYC The city of Beverly Hills files NFT trademarks France to adopt NFT ticketing for major sporting events NHL enters the NFT space partnering with marketplace Sweet Elrond’s Cantina Royale announces IDO and NFT drop on Maiar Fashion brand Salvatore Ferragamo opens Ethereum NFT booth in NYC NFT platform XCarnival under attack: Malefactors use BAYC token Transaction Volume Benchmark     Top Collectibles     The following chart shows selected top NFTs and their historical floor prices. Upcoming NFT Sales The following table shows the top upcoming NFT sales and a sample of their art. Project NameSale DatePriceItemsMarket CapSample 7LuX 07 Jul 2022 1 (ETH) 20,000 20,000 (ETH) Dracula’s Land 5* Resort NFT Collection 13 Jul 2022 4.8 (ETH) 2,022 9705.6 (ETH) Shibacademy NFT Game 30 Jul 2022 1.5 (SOL) 8,888 13,332 (SOL) SolAngel 10 Jul 2022 3.3 (SOL) 3,333 11,099 (SOL) OniGiri 3 Jul 2022 0.1 (ETH) 3,000 300 (ETH) * Sources: Rarity Tools, Crypto.com Top Artists The following table shows selected top artists (by sales volume on each platform) and a sample of their art. PlatformArtistSales Volume (USD)Sample Crypto.com NFT Jay Chou x PSG $449,400 Magic Eden Primates $2,620,435 OpenSea Bored Ape Yacht Club $7,907,232 Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES NFT Source: NFT (Week 25, 22/06/2022 – 28/06/2022) (crypto.com)
Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations

Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations

Rebecca Duthie Rebecca Duthie 30.06.2022 23:23
Summary: What is the Fusion Platform and how does it work? Advantages of the Fusion exchange. Fusion’s past, present and future price positions. Read next: Altcoins: IOTA (MIOTA) - What Is It? - A Deeper Look Into the IOTA (MIOTA) Platform  The Fusion platform Fusion is an interoperable ecosystem for financial innovations, it is a platform that is aimed at powering the next wave of DeFi innovation on the blockchain. Fusion has a current market capitalisation of more than $16.3 million. There is a maximum supply of 81,92 million FSN tokens and there are currently 71,995 million in circulation. Fusion describes itself as an all-inclusive blockchain based financial platform that offers cross-chain, cross data source and cross-organisation services through making use of smart contracts. The Fusion project makes use of the Hierarchical Hybrid Consensus Mechanism (HHCM), which amalgamates elements from proof-of-stake (PoS), proof-of-work (PoW) and parallel computing, this is done with the goal of creating a safe and efficient platform. Fusion leverages Distributed Control Right Management (DCRM) as an extra layer of security, DCRM protects crypto assets on the Fusion blockchain. The distributed storage and sharding of a private key ensures that no single node has the ability to gain control of assets. Fusion also provides for multiple triggering modes, such as event-based and time-based triggers, these are included in their smart contracts, which were designed to meet the demands of complex smart contracts. Ecosystem projects on the Fusion platform: The Fusion Wallet allows platform users to create, manage, enhance, receive, send, time-lock and swap digital assets within an interoperable framework. The Quantum Swap Sandbox allows Fusion users to swap any digital asset with any exchange pair and maintain complete control over all of the swap parameters enjoying low gas fees, seamlessly. The Block explorer project is a fully realised block explorer that is used to track wallet addresses, transactions, time-locks, block height and both native and external assets. The network monitor project is used to monitor block time, gas price, difficulty calculation, propagation time and other performance metrics on the Fusion network monitor. It is possible for prospectus and current users to purchase Fusion’s FSN token at the current rate on the top cryptocurrency exchanges for trading in Fusion stock, some of these exchanges include OKX, KuCoin, Huobi Global, MEXC and Gate.io. Advantages of the Fusion platform Interoperability: Fusion facilitates cross-chain interoperability through a decentralised custodian model (DCM). Time-lock feature, this feature is unique to Fusion and allows users to extract time-value out of their digital assets. Smart contracts: Fusion facilitates Ethereum compatible enhanced crypto financial smart contracts. Security: Manage and control private keys in a distributed manner with DCRM technology. Scalability: Fusion is scalable, decentralised, efficient and environmentally friendly network nodes. Digital assets: Users can create, lend or manage their own digital assets and NFTs using the Fusion’s FRC20 protocol. Staking: efficient and improved Ethereum compatible, tickered proof of stake algorithm. Developer friendly: users can jumpstart their application with a new set of APIs geared to finance. Past, present and future prices of The Fusion network (FSN) The FSN token reached its first peak in August of 2018 hitting a price of more than $8.4, the first peak was then followed by a gradual but steady decline. Since the first price peak, the price of FSN has remained relatively steady but has, however, jumped up and down over the years. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FSN does fall under this category. According to some analysts, the future price of The Fusion networks (FSN) could reach up to $0.61 by 2024 and could see a price of more than $6 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FSN Price Chart Sources: Fusion.org, coinmarketcap.com, priceprediction.net,
CZK: Koruna's Resilience Amid Global Influences - 16.08.2023

Summary Of 1H: Bitcoin Lost 60%! DAX Decreased By 20% Crude Oil Price Is Ca. 40% Higher Than In The Beginning Of 2022. First Half Of The Year 2022 Showed BTC Has Been Deeply Correlated With Tech Stocks

Swissquote Bank Swissquote Bank 01.07.2022 11:59
The first half is finally over, but the pain is certainly here to stay. Economic data looks bad, employment softens, and inflation is up. The S&P500 closed the first half in the bear market, having lost more than 20% since the beginning of the year, while Nasdaq, which is more sensitive to the Fed policy and to the rising interest rates, closed the first half more than 30% down. Did Gold Withstand Volatility On Markets? Gold did a good job as a hedge to turmoiled markets, but the rising US yields increase the opportunity cost of holding the non-interest-bearing gold certainly limited the upside potential of the precious metal. DAX Lost 20%, FTSE Decreased By "Only" 4% Bitcoin proved to be an imperfect hedge against both inflation and the falling markets, while the DAX is down by more than 20%, and the FTSE, which benefited from surging oil and commodity prices, could lose its advance. Funnily, Chinese stocks diverged positively in the latest quarter, to catch up the losses for the year. Nasdaq’s Golden Dragon China index rebounded by more than 65% since the March dip. What’s next? The pain may not be over, as the Fed is expected to remain as aggressive as needed until it sees a material and a persistent softening in inflation. Watch the full episode to find out more! 0:00 Intro 0:13 We had a tough first half! 2:13 S&P500 had its worst half since 1970 3:02 Gold, flat 3:48 Bitcoin under pressure 4:51 European stocks down, but Chinese recover 5:43 What could help the risk selloff ease? Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #2H #expectations #forecasts #XAU #gold #USD #crude #oil #inflation #recession #economic #corporate #data #earnings #Bitcoin #market #selloff #DAX #FTSE #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

5 Cryptocurrencies To Keep A Watch On: FTX (FTT), Litecoin (LTC), Pancakeswap (CAKE), Ripple (XRP), Cardano (ADA)

Rebecca Duthie Rebecca Duthie 01.07.2022 16:10
Summary: A summary of FTT, LTC, CAKE, XRP, ADA Clawback prevention, peer-to-peer, Proof of work, proof of stake, proof-of-history. The automated market model The FTX Platform According to its creators, FTX stands out from other mainstream platforms due to its clawback prevention, centralised collateralised pool and universal stablecoin settlement features. FTX reduces the clawbacks on the platform by making use of a three-tiered liquidation model. Clawbacks refer to the amount of user funds that have been claimed by socialised losses. FTX derivatives are stable-coin settled and only require one universal margin wallet, this prevents fragmented capital across different wallets and exchanges which normally poses a problem for traders when it comes to liquidating positions. FTX is unique because it is backed by Almeda Research, which is well known as one of the leading companies in crypto trading and one of the largest liquidity providers. FTX covers services such as collateral, maintenance margins, liquidation processes and product listing. They are focused on fast development cycles which allows them to deploy crypto trading systems at competitive speeds. Read more: Altcoins: What Is FTX (FTT Token)? - A Deeper Look Into The FTX Platform  The Litecoin Platform Litecoin is a peer-to-peer cryptocurrency and an open-source software project that was released under the MIT/X11 licence. Litecoin started in October 2011 as one of the first altcoins. Litecoin expands on the original Bitcoin (BTC) technology. Peer-to peer cryptocurrencies refer to transactions between two parties of some asset (such as digital currency) that does not require involvement from a central authority. Litecoin is a decentralised platform that has no censorship and is available to all. Users can send low cost, private, secure borderless payments to anyone they choose at anypoint and to anywhere in the world. Litecoin is blockchain secured, meaning that it is the largest global scrypt based network operating at 100% since 2011, tracasting and securing billions of dollars of value. Read more: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform  The PancakeSwap platform PancakeSwap is an automated market maker (AMM), a decentralised finance (DeFi) application which allows users to exchange tokens and provides liquidity via farming and earning rewards. PancakeSwap users trade against a liquidity pool, which are filled by users with deposits and in return receive liquidity provider (LP) tokens. The liquidity provider tokens can later be used to reclaim their deposits plus a portion of the trading fees. PancakeSwap allows users to trade BEP20 tokens (token on the Binance smartchain), and provides liquidity to the exchange and earn fees, stake liquidity provider tokens to earn CAKE, stake CAKE to earn more CAKE and stake CAKE to earn tokens of other projects. PancakeSwap is one of the most popular decentralised platforms that is available to users for trading, winning crypto and earning. The platform is trusted with billions by millions. PancakeSwap has the most users of any decentralised platform, ever. The platform has 2.9 million users over 40 million trades in the last 30 days and a stake of $4.8 billion. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform  The Ripple Platform Peer-to-peer networks refers to the direct exchange of an asset between individuals, the transaction does not involve a central authority. XRP is the native cryptocurrency of Ripple Labs Inc, a cryptocurrency payment system. XRP is Ripples digital asset used for global payments, the cryptocurrency allows the transferring of payments at very low cost which aims to attract the attention of banks and retailers. Ripples superpower is the combination of extremely low costs and completing the transaction in under 5 seconds. Ripple is known to be a cryptocurrency built for business use. Ripples enterprise-grade solutions are quicker, more cost-effective and more transparent than the more traditional form of financial assets. The Ripple users use these solutions to facilitate instant payments, find and buy crypto, engage audiences, grow their treasury, drive new revenue and lower capital requirements. Read more: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP  The Cardano Platform Cardano’s mission is to be a blockchain for innovators, visionaries and changemakers, it has the tools and technologies required to create possibilities to bring about positive global change for the many, as well as the few. The cardano platform is a proof-of-stake blockchain, it was the first to be founded on peer-review research and was developed through evidence-based methods. The blockchain combines pioneering technologies to provide unparalleled sustainability and security to decentralised systems, applications and technologies. Cardano’s aim is to be an enabling force for positive change and progress, in order to achieve this they have a leading team of engineers. The platform exists to redistribute power from the unaccountable to the margins and the individuals. Cardano is the first blockchain to implement the Ouroboros protocol. Ouroboros is the first peer-reviewed, verifiably secure blockchain protocol, which enables Cardano’s decentralisation and allows it to scale global requirements sustainably without compromising security crucially. Read more: Altcoins: Cardano (ADA) What Is It? - A Deeper Look Into Cardano (ADA)  Sources: FXMAG.com
Altcoins: Komodo (KMD) - What Is It? - A Deeper Look Into the Komodo (KMD) Platform

Altcoins: Komodo (KMD) - What Is It? - A Deeper Look Into the Komodo (KMD) Platform

Rebecca Duthie Rebecca Duthie 04.07.2022 15:07
Summary: What is The Komodo Platform and how does it work? Advantages of the Komodo exchange. Komodo’s past, present and future price positions Read next: Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations  The Komodo platform Komodo is an open-source technology provider that offers enterprises and developers all-in-one blockchain solutions. Komodo builds technologies that make it possible for anyone to launch cross-protocol financial applications, branded decentralised exchanges and independent blockchains. Komodo’s flagship, end-user application is AtomicDEX which is a non-custodial multi-coin wallet, bridge and DEX rolled into one app. AtomicDEX is compatible with 99% of the cryptocurrencies currently in existence and offers the widest cross-chain, cross-protocol trading support of any decentralised exchange. AtomicDEX is the 3rd generation application of Komodo’s atomic swap technology. The technology is built through the use of a peer-to-peer (P2P) atomic swap protocol with decentralised order books. Developers make use of the AtomicDEX API to build initial DEX offering (IDO) portals, cross-protocol DEXs, multi-coin non-custodial wallets and other decentralised applications. Some of AtomicDex’s features include; Fast trading, security due to users not needing to give up private keys or funds at any time, facilitating versatility as no trading pairs are restricted and low fees (market makers are not required to pay any fees, although the market takers are required to pay fees it is only 0,15%). The native currency for Komodo is the KMD coin, which is used in the Komodo ecosystem for scalable, cheap, fast and secure transactions. Komodo was launched in 2014 as a fork of ZCash, it has since changed its focus to being business friendly, interoperable, secure, adaptable and scalable. Komodo is the creator of the delayed proof-of-work (dPoW) which is the industry-leading 51% attack security network. Powered by Litecoin cross norarisations and is backed by a notary node network, currently dPoW secures more than 30 blockchains. Komodo also provides its own native multi-chain blockchain network that allows anybody to launch a blockchain of their own, that is independent of the Komodo blockchain, this blockchain is called a Komodo Smart Chain (KSC) and runs separately from the KMD chain. Each KSC has its own coin, has fully customisable parameters and faces zero gas fees. Komodo also facilitates Antara, according to its website, Komodo’s Antara is “a simple and adaptable framework for custom blockchain development”. With Antara, users can easily activate models, launch a chain and build blockchain based applications. Some of the Antara features include; its Turning complete which cupports C/C++, meaning users can code any program or software to run on your smartchain with Antara. The Antara also facilitates a no gass fee, it only requires a single fee to run. In addition, Antara also allows for custom modules to be written to build advanced blockchain based software. Advantages of the Komodo platform The Komodo platform ensures a high level of security through leveraging the Bitcoin hash power with the help of the delayed proof-of-work (PoW) It allows for direct transfers of different assets and tokens with Atomic Swaps. Users are able to customise their blockchains freely according to numerous parameters. All Komodo blockchains support Atomic Swaps, smart contracts and privacy. It ensures high-level scalability and interoperability with multi-chain syncing and cross-chain smart contracts. No gass fee. Past, present and future prices of The Komodo network (KMDD) At the start of 2018, the price of Komodo’s KMD rose and peaked at $11.33, this was followed by a sharp decline during the first quarter of 2018, the price then continued to fall and reached a low of $0.52 for the 2018 year. The price remained low during 2019, only reaching a maximum price of $1.708. KMD’s price remained subdued in 2020 as well. During the first half of 2021, KMD’s price peaked and reached a maximum of $3.89 it then fell again and has been on a bearish trend to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, KMD does fall under this category. According to some analysts, the future price of The Komodo network (KMDD) could reach up to $1.3 by 2026 and could see a price of more than $5.9 by 2030 and $8.72 by 2031. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. KMD Price Chart Sources: finance.yahoo.
Bitcoin Stagnates at $30,000 Level, Awaits US Bitcoin ETF Update and Fed Meeting

Altcoins: AAVE (AAVE) - What Is It? - A Deeper Look Into the AAVE (AAVE) Platform

Rebecca Duthie Rebecca Duthie 06.07.2022 15:45
Summary: What is The AAVE Platform and how does it work? Advantages of the AAVE exchange. AAVE’s past, present and future price positions. Read next: Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform  The AAVE Platform Aave is a decentralised finance (DeFi) protocol that allows people to both borrow and lend cryptocurrencies. Lenders are able to earn interest through the depositing of digital assets into liquidity pools that are specially created. Borrowers are able to use their cryptocurrency as collateral to take out a flash loan by using this liquidity. Aave (meaning “ghost” in Finnish) was, at first, known as ETHLend when it was first launched in 2017, however ETHLend was rebranded in september of 2018. AAVE provides its holders with discounted fees on the platform, and in addition, it also serves as a governance token, this gives the owners a say in the protocols future development. The governance aspect of the protocol works in the following way: Users can submit an Aave request for comment (ARC): thereafter discussions between users will commence and feedback will be given and received. Create a snapshot: the snapshot offers a way for community sentiment for a new proposal to be gauged. Submit an Aave request for improvement (AIP): the proposal is to be submitted through a GitHub pull request and the community will vote on approvals. The current market capitalization of AAVE is more than $862 million, with a maximum supply of 16 million AAVE tokens, there are currently almost 14 million of them currently in circulation. What makes AAVE’s unique? Aave has several unique selling points in comparison to its competitors in an increasingly crowded market. During the DeFi craze in the summer of 2020, AAVe was one of the bigger projects in terms of the total amount of value that was locked into its protocol. The Aave protocol allows its users to lend and borrow 20 cryptocurrencies, giving its users a larger amount of choice. One of Aave’s flagship products are “flash loans,” which have (interestingly) been billed as the first uncollateralized loan option in the DeFi space. The catch however is that they must be paid back in the same transaction. Another big selling point is that those who borrow through Aave ultimately have the choice to alternate between both fixed and variable interest rates. While fixed rates can provide some certainty about costs during times of volatility in the crypto markets, variable rates can come in handy if the borrower thinks that prices will fall in the near future. Advantages of the AAVE platform AAVE offers a large lending pool that is available for various digital assets. AAVE also offers its users more features for digital lending and or borrowing. AAVE also offers its users stable interest rates for some of the crypto assets. Flash loans are one of AAVE’s largest selling points and a revolutionary DeFi feature. Past, present and future prices of The AAVE network (AAVE) During October of 2020, the price of AAVE reached a low point of $29.7, thereafter the price began to rise, reaching its first peak in early February of 2021 at a price of $494.6, in September of the same year, AAVE reached its second peak, coming in at a price of $516.16. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. The trend that has stuck for this crypto is that AAVE’s price has been consistently declining since its September 2021 peak. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, AAVE does fall under this category. According to some analysts, the future price of The AAVE network (AAVE) could reach up to $97.84 by 2024 and could see a price of more than $267.93 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. AAVE Price Chart Sources: finance.yahoo.com, currency.com, aave.com, coinmarketcap.com, cryptonewz.com
Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform

Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform

Rebecca Duthie Rebecca Duthie 05.07.2022 23:05
Summary: What is The OKB Platform and how does it work? Advantages of the OKB exchange. OKB’s past, present and future price positions. Read next: Altcoins: Komodo (KMD) - What Is It? - A Deeper Look Into the Komodo (KMD) Platform  The OKB platform OKB is a cryptocurrency that was released by the OK Blockchain and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world and is currently ranked third in terms of liquidity, fourth in terms of trading volume the platform also provides a wide variety of trading pairs for its users. OKEx is similar in many ways to the cryptocurrency giant, the Binance protocol, however, there are a few differences separating the two. The OKEx facilitates its own cloud mining services, and the company also has focused reach when it comes to providing trading options for its users. OKB is the OKEx utility trading token, the token enables the platform's users to access the exchanges special features. The OKB token is used when calculating and paying fees, rewarding its users for holding OKB and to give users access to voting and governance within the platform. Since its launch in 2017, OKEx has become one of the world's leading trading floors. The platform originally emerged as an offshoot from the original OKCoin platform. The current market capitalisation of OKB is currently surpassing $756 million, there is no maximum supply of OKB tokens, there are however, a current circulating supply of 60 million tokens. OKB’s uniqueness The OKB token plays a key role within the OKEx ecosystem, it allows the platforms users to receive a 40% discount on transactions (dependent on the number of tokens the user has). The exchange divides users into two status groups, VIP and regular. VIP users get assigned a level in accordance to their trading volume and Regular users are assigned a level in accordance to their OKB stocks. The commissions are updated everyday and users are awarded a discount dependent on their respective levels. In addition, it is possible for platform members to earn a passive income on holding their OKB tokens, and their token is involved in the OKEx Earn (the OKEx Earn is a project that helps users earn on their assets). The OKB token also has another purpose, which is to allocate funds to the OKEx Jumpstart platform. Jumpstart participation is only available to users after registration on the site - sales are then made through MixTrust. Advantages of the OKB platform Transaction fee discounts, The platform has clearly defined levels based on users’ OKB holdings. The more users are level on, the more transactional discounts they are awarded for their OKB tokens. VIP users get even better discounts and benefits. Jumpstart sessions, OKEx offers the Jumpstart sessions which is the OKEx tokens sales platform, holders who hold a minimum of 100 tokens for 5 days consecutively will be eligible to participate in the session. Each user's amount they are given after the session is dependent on the OKB amount and for the amount of time the holder held the tokens for. Designated merchants, When trading occurs, there is often a small amount left over in the wallet which is left unused. To manage this issue, OKEx supports a small-balance conversion, whereby users can convert all the leftover balances into OKB tokens.   Past, present and future prices of The OKB network In Mid 2019 the price of OKB was low, from there the price rose gradually, reaching its first peak in February of 2020 at a price of $5.86. Thereafter its price continued to rise reaching another higher peak during the first quarter of 2021 at a price of $21.26. Thereafter the price continued to rise again, reaching its all time high of $28.81 in December of 2021. The year 2022 has seen the price of this token fall consistently over the past 7 months. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, OKB does fall under this category. According to some analysts, the future price of The OKB network (OKB) could reach up to $33.94 by 2026 and could see a price of more than $78.97 by 2030 and $8.72. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. OKB Price Chart Sources: finance.yahoo.com, blocktalks.medium.com, okx.com, cryptonewz.com
Altcoins: IOTA (MIOTA) - What Is It? - A Deeper Look Into the IOTA (MIOTA) Platform

Altcoins: IOTA (MIOTA) - What Is It? - A Deeper Look Into the IOTA (MIOTA) Platform

Rebecca Duthie Rebecca Duthie 29.06.2022 09:00
Summary: What is The IOTA Platform and how does it work? Advantages of the IOTA exchange. IOTA’s past, present and future price positions The IOTA Platform The IOTA pl​​atform is a distributed ledger: it isn't actually a blockchain. Instead its proprietary technology is known as Tangle, which is a system of nodes that confirm transactions. The foundation that this platform rests on claims it offers greater speeds than conventional blockchains - a footprint that is ideal, especially in the ever-expanding Internet of Things ecosystem. Due to the fact that it is not a blockchain, IOTA does not have miners and therefore does not have any fees. Many networks that are established see costs inflate as congestion on the network intensifies, however IOTA aims at providing limitless throughput at minimal expenses. IOTA plans to become the de facto platform for executing between IoT devices. The IOTA team also believe that potential use cases do not stop there, they also believe that their distributed ledger could: deliver digital identities to all, deliver seamless global trade, result in car insurance policies that are based on actual usage, pave the way for cutting-edge smart cities and prove the authenticity of products. IOTA’s token, MIOTA has a maximum supply of almost 2.78 billion tokens, 100% of these are currently in circulation. The current market capitalisation is more than $794 million. Advantages and disadvantages of the IOTA platform Advantages: The IOTA platform's transaction rate is substantially faster than many of its crypto counterparts due to the fact that consensus is unnecessary. IOTA is scalable due to its fast transaction time. The IOTA coin, MIOTA, facilitates micro-payments, even small amounts are feeless. IOTA has low energy consumption, and may be more sustainable than other platforms. Disadvantages: Has, in the past been subject to theft, and MIT found a vulnerability with its hash function. Ethereum’s co-founder, Vitalik Buterin, has cast doubt on IOTA’s ability to solve scalability issues. How is IOTA unique? One of the main features setting IOTA apart from its crypto counterparts is the fact that it is a blockchainless blockchain, which is unusual. IOTAs Tangle which helps to maintain the IOTA network's ability to function as a blockchain and execute secure transactions. New transactions are validated through approving two previous transactions from another node - using this approach means that the network's speed and size will be directly related to the number of people that are using the platform. Some cryptocurrencies are run as businesses, however the IOTA foundation claims it is not for profit, just that its sole aim is making the network as prosperous as possible. In addition, IOTA has differentiated itself from many other crypto through establishing high-profile partnerships with the carmaker Volkswagen, and helping the city of Taipei to pursue smart projects. Although IOTA is not a blockchain, it is still secured through the use of a consensus mechanism through the use of a relatively straightforward Proof-of-Work puzzle which aids in validating transactions on the IOTA network. Past, present and future prices of The IOTA network (MIOTA) During the first few months of 2018 the price of MIOTA hit its first peak, reaching up to $4.5, the first peak was followed by a decline which continued all the way until the start of 2021. During the first half of 2021 the MIOTA price began to climb gradually and hit its second peak in May of 2021 and reached a price of around $2.4. The price then declined in a staggered manner, rising again in August of 2021. The price has been declining since. Over the past few months, the markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, MIOTA does fall under this category. According to some analysts, the future price of The IOTA network (MIOTA) could reach up to $2.06 by 2026 and could see a price of more than $8.12 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. MIOTA Price Chart Sources: coinmarketcap.com, finance.yahoo.com, changelly.com, sofi.com
German industrial production slumps for third straight month, raising recession risk

Altcoins: Balancer (BAL) - What Is It? - A Deeper Look Into the Balancer (BAL) Platform

Rebecca Duthie Rebecca Duthie 07.07.2022 16:08
Summary: What is The Balancer Platform and how does it work? Advantages of the Balancer exchange. Balancer’s past, present and future price positions. Read next: Altcoins: AAVE (AAVE) - What Is It? - A Deeper Look Into the AAVE (AAVE) Platform  The Balancer Platform Balancer is an automated market maker (AMM), it was developed on the Ethereum blockchain, it was launched in March of 2020. Balancer managed to raise a $3million seed round by Accomplice and Placeholder. The Balancer protocol functions as a weighted portfolio that is self-balancing, liquidity provider and price sensor. Balancer allows users to earn profits through its $BAL (its newly introduced token) by contributing to customisable liquidity pools. The pools that the protocol operates: Private pools: this gives the users of the platform governance over the pool and makes the user the sole contributor of the liquidity pool. Shared pools: for the users who wish to become liquidity providers (LPs) , these liquidity providers are rewarded with the Balancer Pool Tokens (BPTs). Smart pools: the smart pools are similar to the private pools, however, they are controlled by a smart contract, they also reward using BPTs and allow anyone to contribute to the liquidity pool. The current market capitalization for Balancer is more than $202 million, there is a maximum supply of 96,150,704 BAL tokens, 40,808,048.66 of those tokens are currently in circulation. Security is an important priority for Balancer, hence, the protocol has been audited three times, fully by ConsenSys, OpenZeppelin and Trail of Bits. It is a trustless system as there are no admin keys or backdoors and the balancer pools are not upgradeable. Balancer does not support tokens that are non-conforming to the ERC-20 standard, even though they may be in use on some pools. The tokens held on Balancer pools are actually not controlled by Balancer itself, instead they are smart contracts. However, that fact does not remove the inherent risks of smart contracts. The configurable rights pools (CRPs) ensure that tokens with known issues are banned from being used in pools. It further ensures that all other tokens safely interact with the protocol What makes Balancer unique? The Balancer platform is similar to Curve and Uniswap, in that it enables anyone to create token pools. The pool adjusts itself to keep the tokens equally weighted, regardless of any price changes. However a major differentiating feature of Balancer is that more than one token can be added and using ETH is not required. Although Balancer is not the first Decentralised Finance protocol to make use of AMMs they have brought a new approach and face to liquidity. The unique feature of the Balancer protocol is that it allows Liquidity Providers to have up to 8 assets per market, which are weighted by % and automatically rebalanced. When it comes to Balancer, users are not required to put down a 50% deposit of the desired asset, they are however, able to decide how much of the supported asset they wish to deposit. There is another unique feature of Balancer Lab, users are able to make a high return on the assets which are in low demand through arbitrage opportunities and slippage-reduction. Advantages of the Balancer platform High security. No deposit required when desiring an asset. Balancer supports DeFi. Any users can create token pools on the Balancer platform. Operates 3 different kinds of pools. Past, present and future prices of The Balancer network (BAL) At the start of July during 2020, the price of BAL began to rise, reaching its 2020 high of $31.79 in August. The first two quarters of 2021 indicated the price of BAL was on the rise, reaching its all time high of $69.42 in early May. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, BAL does fall under this category. According to some analysts, the future price of The Balancer network (BAL) could reach up to $33.49 by 2025 and could see a price of more than $214.77 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. BAL Price Chart Sources: finance.yahoo.com, coinmarketcap.com, swapspace.co, FXMAG.com
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

5 Cryptocurrencies To Keep A Watch On: Tether (USDT), Tezos (XTZ), HEX (HEX), Bitcoin Cash (BCH), Avalanche (AVAX)

Rebecca Duthie Rebecca Duthie 08.07.2022 13:23
Summary: A summary of USDT, XTZ, HEX, BCH, AVAX Stablecoins, Web3, Certificate of Deposit Proof of work, proof of stake, proof-of-history. The Tether USDT Platform Tether is a Hong-Kong based company that issues the USDT is a stablecoin that mirrors the price of the US Dollar. The aim of the Tether platform is to combine the unrestricted nature of cryptocurrencies (transferring of assets between parties without the need of a financial intermediary) with the stable value of the US Dollar. In recent times, stablecoins are sometimes being used as a hedge against inflation, instead of keeping fiat currency in an account earning small interest where users can lend their stablecoins and earn yields between 3-20%. Tether does not have its own blockchain, instead operates as a second-layer token on top of other cryptocurrencies’ blockchains: Ethereum, Bitcoin, EOS, Tron, Algorand and OMG, the hashing algorithms of these blockchains secures Tether USDT. Read more: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain  The Tesoz platform Tezos platform is an open-source platform that tries to fix the main barriers that are facing blockchain adoption for assets and applications. Tezos is backed by validators, builders and researchers from a global community. Tezos’ design embraces upgradability in the long-term, collaboration, participation and smart contracts safety. The Tesoz platform was designed to power the web3 revolution. According to Tesoz.com, “The future of the internet is being built on Tezos” the core of the Tesoz platform is user participation and governance. Users are able to frictionlessly and directly communicate with each other over a decentralised network, interacting with various applications and exchanging value, without the need for intermediaries. On Tezos, web3 can be truly user-governed and user-centric, the way it was meant to be. Tezos offers institutional grade security. It is designed to provide the safety and code correctness that is required for assets and other high value cases. This safety is and code correctness is provided at both the application and protocol layers, this is done by leveraging the OCaml and Michelson languages, both of which facilitate formal verification, a practice that is normally used in mission-critical industries. The future of web3 can be secure on Tesoz. Read more: Altcoins: Tezos (XTZ) What Is It? - A Deeper Look Into The Tezos Platform  The HEX platform HEX is an ERC20 token that is launched on the Ethereum network. The HEX token is designed to act as a store of value to replace the Certificate of Deposit as the blockchain counterpart of the Certificate of Deposits used in traditional financial markets. HEX token is also designed to leverage off the emerging decentralised finance (DeFi) ecosystem in finance using the Ethereum network. HEX utilises the Ethereum network for the transaction layer (the layer that makes it possible to send and receive HEX tokens as well as allowing interactions with the HEX smart contract), whilst the consensus code and staking mechanism is contained in the HEX smart contract. Certificates of Deposits are common investment tools that are normally managed by banks. The Certificate of Deposit market is a trillion dollar market and is used worldwide. HEX took the concept of Certificates of Deposits, removed banking fees, added a higher average return rate and turned it into a decentralised cryptocurrency. Read more: Altcoins: What Is HEX? - A Deeper Look Into The HEX Blockchain  The Bitcoin Cash Platform Bitcoin Cash (BCH) is an extension of the Bitcoin (BTC) cryptocurrency and was created as a way to get around some of Bitcoins flaws, it was launched in August 2017. Anybody who held Bitcoin (BTC) at the time of Bitcoin Cash’s launch, received BCH. Both platforms are run mainly on the framework, proof-of-work (PoW), and make use of nodes to verify transactions. The main differentiating characteristic between Bitcoin Cash and Bitcoin is the blocksize. The blocks in the Bitcoin Cash blockchain can be larger, this means that more Bitcoins can be processed at a time, therefore the additional space aids in avoidance of higher fees. Bitcoin Cash offers more anonymity and privacy than mainstream platforms such as banks and credit cards etc. it is almost impossible to discover who controls a Bitcoin address. Bitcoin Cash supports token protocols that are able to power a wide diversity of projects and makes it easy for users to create their own token backed projects. Read next: Altcoins: Bitcoin Cash (BCH), What Is It - A Deeper Look Into Bitcoin Cash  The Avalanche Platform The Avalanche platform is extremely fast, low-cost and eco-friendly. The Avalanche platform is an open, programmable smart contracts planform for decentralised applications (DApps). The Avalanche cryptocurrency rivals Ethereum, and its native token is AVAX. Avalanche prioritises transaction speed and scalability. In addition, the Avalanche network is a proof-of-stake (PoS) network. The Avalanche platform was officially launched in september of 2020. The platform is built across three chains: the C-chain (contract chain) which hosts Avalanches DeFi ecosystem, X-chain (exchange chain) and P-chain (platform). It is possible to launch private and public customised blockchains; these blockchains can be deployed to fit users own personal needs, dictate how the blockchain should operate and build their own virtual machines. Read more: Altcoins: What Is Avalanche (AVAX)? A Deeper Look Into The Avalanche Platform | Rebecca Duthie  Sources: fxmag.com
Crypto: Ethereum - Altcoin Correction Completed?

Altcoins: Compound (COMP) - What Is It? - A Deeper Look Into the Compound (COMP) Platform

Rebecca Duthie Rebecca Duthie 11.07.2022 14:38
Summary: What is The Compound Platform and how does it work? Advantages of the Compound exchange. Compound’s past, present and future price positions. Read next: Altcoins: Balancer (BAL) - What Is It? - A Deeper Look Into the Balancer (BAL) Platform  The Compound Platform Compound is an algorithmic, autonomous interest rate protocol that is built for developers, to unlock a universe of open financial applications. Compound is a decentralised finance (DeFi) lending protocol, the protocol allows its users to earn interest on their cryptocurrencies through depositing them into one of the many pools that are supported on the platform. Compound's native token is COMP, the current total market capitalization of the crypto currency is more than $385 million, there is a maximum supply of 10 million tokens and 7,157,897.96 COMP tokens are currently in circulation. When a platform user deposits tokens into one of the Compound pools, they receive c”Tokens” in return and these represent the users stake in the pool and can be used to redeem the underlying crypto that was initially deposited into the pool at any time. The idea is that over time the exchange rate for these underlying assets to the cTokens increases, thus users redeem their cTokens for more than the value they deposited them at - this is how the interest is distributed. In addition, the opposite is also possible, users who wish to borrow can take a loan from a Compound pool of their choice by depositing collateral. The Loan-To-Value (LTV) ratio varies, however currently ranges between 50-75%. The interest rate paid is borrowed asset dependent and borrowers may face automatic liquidation if their collateral falls below a specific maintenance threshold. The Compound platform is secured through smart contracts automatically, which mint cTokens after Ethereum and ERC20 tokens are deposited. In addition, the protocol ensures that there is collateralization for all assets that are supported by the platform, thus ensuring each pool is overcollateralized at all times. The Compound Platform works through the use of Yield farming, Compound lending pools, Interest, decentralised governance, use of COMP, and cTokens. How is Compound unique? Compound does not wish to be yet another cryptocurrency protocol that does nothing for their holders, instead, through their open platform, they allow any users who deposit Ethereum supported tokens to earn interest easily or take out secured loans. Compound’s community governance separates it from some of its similar protocols, COMP holders have the chance and right to propose protocol changes, implement and vote on changes that are suggested by other holders - the Compound team does not interfere. COMP tokens are available for purchase from third-party exchanges, or can be earned through interaction with the Compound protocol. Advantages of the Compound platform Compound allows regular users to secure passive income. Compound has the ability to use Bitcoin in DeFi environments, this is possible through the platform's introduction of Wrapped Bitcoins (WBTC) which are ERC-20 representation of locked Bitcoin. Compound leverages smart contracts that are audited, which successfully completes desired tasks autonomously. The contracts on the network take care of all the network's vital functions. The Compound platform is secure through many means, it has gone through audits from reputable agencies. The Compound platform meets the general DeFi consensus and interoperability. The network is open to the integration of third-party assets and platforms. Past, present and future prices of The Compound network (COMP) Since the launch of the Compound mainnet during September 2018, the platform has skyrocketed in terms of popularity and passed $800 million in total locked value recently. The price of the COMP token did not see much change overall, during 2021 however, the price jumped and fell, reaching a maximum overall price of $803.99 during April. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, COMP does fall under this category. According to some analysts, the future price of The Compound network (COMP) could reach up to $250 by 2025 and could see a price of more than $1977 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. COMP Price Chart Sources: finance.yahoo.com, coinmarketcap.com, compound.finance, securities.io, priceprediction.net  
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

Altcoins: Numeraire (NMR) - What Is It? - A Deeper Look Into the Numeraire (NMR) Platform & Trading Based On AI-Generated Market Predictions

Rebecca Duthie Rebecca Duthie 12.07.2022 19:34
Summary: What is The Numeraire Platform and how does it work? Advantages of the Numeraire exchange. Numeraire’s past, present and future price positions. Read next: Altcoins: Compound (COMP) - What Is It? - A Deeper Look Into the Compound (COMP) Platform  The Numeraire Platform Numerai is a platform that is Ethereum-based that allows both data scientists and developers to experiment and create machine learning models, with more reliability. The main goal of the Numerai platform is to introduce decentralisation to the data science field and it aims to allow developers to compete in creating effective machine learning prediction models. Numeraire powers Numerai, Numerai is a San Francisco-based hedge fund that crowdsources artificial intelligence in order to make investments in major stock markets around the world. Numeraire (NMR) tokens holders are able to stake their tokens every week based on specific predictions. Successful predictions are further rewarded with more NMR. Numaraire was founded in 2015, Numerai claims to be the first hedge fund to launch a cryptocurrency in the crypto market. Numerai differs from traditional hedge funds in that it relies on the predictions and data that is produced by tournament participants to participate in the stock market; they also claim to be the first hedge fund to use machine learning so heavily in their investment strategy. The current market capitalization of Numeraire is more than $87 million. There is a maximum supply of 11 million NMR tokens and 5,888,503.64 of them are currently in circulation. Numeraire’s Uniqueness Numerai and the Numeraire token are unique due to their creation and the idea behind it. This is reportedly the first cryptocurrency to be released and created by a hedge fund. One of the Numeraire (NMR) tokens best advantages is that it is awarded to those data scientists whose models are top performers in the Numerai tournaments. Therefore, the NMR token’s value increases as the number of entries and tournament competitors increases. In addition, the models that are created for tournament participation allow Numerai to participate in stock market trading based on those results that are revealed by participating projects. This approach to stock market investing is innovative and it makes Numerai one of the only hedge funds that relies significantly on AI-generated data predictions. Advantages of the Numeraire Crypto Numeraire (NMR) tokens are awarded to data scientists whose models are top performers in the Numerai tournaments. Numeraire’s (NMR) token value increases as the number of entries and tournament competitors increases. Successful predictions are further rewarded with more Numeraire (NMR). Numeraire (NMR) also offers both traders and investors long-term earning potential and it is an investment that is profitable. Those who hold the Numeraire (NMR) token are opening themselves up to the possibility of good returns. Numerai has paid out millions of US Dollars already in the form of incentives and in an attempt to increase the visibility within the data science community, meaning they are committed to growing the Numeraire platform. NMR is an ERC-20 token, meaning it is secured on the Ethereum blockchain with Proof-of-stake (PoS) consensus mechanism offering extra security. Due to the Proof-of-Stake consensus mechanism that supports NMR, there is no need for the platform to rely on high electrical or computable power to create new NMR tokens, thus, the consensus is much more scalable and can easily be incorporated in different use cases. Past, present and future prices of The Compound network (COMP) The Numeraire (NMR) token hit its first price peak in January of 2018, at a price of $52.16, thereafter the price continued to fall throughout 2018. The price of NMR remained low throughout 2019 and for the first quarter of 2020. During 2020 the price of NMR increased to a price of $52.74 during August. The price then showed much volatility and climbed to an all time high of $90.79 during April 2021. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, NMR does fall under this category. According to some analysts, the future price of The Numeraire network (NMR) could reach up to $53.11 by 2025 and could see a price of more than $130 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. NMR Price Chart Sources: coinmarketcap.com, finance.yahoo.com, help.coinbase.com, cryptonewsz.com, currency.com
Crypto: BTC/USD Decreased By 5%. Altcoins - Cardano (ADA) Lost 4.2%

Crypto: BTC/USD Decreased By 5%. Altcoins - Cardano (ADA) Lost 4.2%

Alex Kuptsikevich Alex Kuptsikevich 13.07.2022 09:53
Bitcoin was down 5% on Tuesday, ending it at around $19,400 and remaining near that level by the start of European trading. Ethereum has lost 3.3% in the last 24 hours to $1055. Altcoins from the top 10 fell from 1% (BNB) to 4.2% (Cardano). Cryptocurrency market capitalisation Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 2.1% to $870bn overnight. The Cryptocurrency Fear and Greed Index lost 1 point to 15. Bitcoin fell the most since Tuesday’s beginning of the month amid a stock indices decline. BTC fell below $20,000 and tested eight-day lows below $19,300. On weekly timeframes, Bitcoin remains pinned to the oversold RSI area and under the 200-week moving average. While indicating that the market has gone too far and too fast during the recent sell-off, this disposition does not yet show signs of rebound. The bear markets of bitcoin and other risky assets of the past teach us that a sell-off is usually followed by a prolonged sideways move but not a V-shaped rebound. Moreover, a final reversal is often preceded by a power failure - a capitulation that makes assets ridiculously cheap, which we have yet to see. According to CoinShares, institutional investors have shown little interest in crypto. Capital inflows into crypto funds last week amounted to $15 million, with about half of the funds coming into Ethereum products, with inflows into ETH rising for the third week. Inflows into funds that allow shorts on bitcoin fell to $6.3 million from $51 million a week earlier. The market has yet to form a bold ‘bottom’. Cryptocurrencies could soon face severe problems as they lack catalysts for growth in the face of widespread adversity, according to CoinShares.
Dr. Copper: Building a Foundation Amidst Commodity Challenges

Altcoins: Gnosis (GNO) - What Is It? - A Deeper Look Into the Gnosis (GNO) Platform

Rebecca Duthie Rebecca Duthie 13.07.2022 13:37
Summary: What is The Gnosis Platform and how does it work? Advantages of the Gnosis exchange. Gnosis’s past, present and future price positions. Read next: Altcoins: Numeraire (NMR) - What Is It? - A Deeper Look Into the Numeraire (NMR) Platform & Trading Based On AI-Generated Market Predictions  The Gnosis Platform Gnosis (GNO) is an open-source decentralised prediction market platform that is based on the Ethereum blockchain. The company's main objectives include but are not limited to; the standard for predictive assets, customised information search and Gnosis hopes to become the most effective tool for forecasting in the industry. GnosisDAO builds decentralised infrastructure for the Ethereum ecosystem. In November 2021 the Gnosis DAO and xDAI community held a vote to combine their vibrant ecosystems of these two platforms, the combination created the Gnosis Chain, which is an Ethereum forerunner-companion that addresses scaling issues through solid engineering. Gnosis Chain is the execution-layer EVM chain that is associated for stable transactions, the chain makes use of the xDAI token and includes a wide-ranging group of projects and users. The main interoperable products of Gnosis are used for trading, creating and holding digital assets on Ethereum. The current market capitalization of Gnosis is currently at more than $277 million. GNO has a maximum supply of 10 million GNO tokens; 2,579,588 (26%)are currently in circulation. Gnosis is a fully permissionless decentralised exchange, its ring trade feature allows trades that share liquidity to get maximum liquidity across all orders. Trade settlements happen every 5 minutes. The Gnosis protocol V2 batch auctions offer maximum extractable value integration and protection with liquidity sources in decentralised exchanges for best-priced trades. The Gnosis GNO ecosystem has three main layers; The Gnosis core layer consists of smart contracts, these smart contracts govern the outcome creation, settlement and they provide a market mechanism. The layers are always available for use. The main two smart contracts are Epochtoken locker which deals with a staged deposit, withdrawal of funds as well as deposit balance and Batchexchange which deals with all exchange-related logic, adjustments and orders placement and verification of solutions and submission. The Gnosis service layer offers additional services, these services include chatbots, optimization tools, and stable coins. Gnosis application layer stands as a tool to help predict market use cases or customer segments. Gnosis and third parties build applications. Advantages of the Gnosis platform and GNO token The open-source nature of the platform creates safety and security for the platform's users. The open-source also allows users to vet the coding. Thus, they are less likely to have attack vectors. The Gnosis system also makes it more simple for users to trade, create and hold digital assets. The Gnosis platform was built with the desire for it to be scalable. The protocol leverages the Gnosis Chain to improve performance. Gnosis provides its users with lower fees and faster transaction times compared to some other programmable networks. Gnosis can be used for large scale transactions due to the network averaging 5-second transactions. Gnosis platform allows its users to benefit from forecasting (predicting future market movements), these market-driven actions provide a valuable service as a source of information and standards for predictive assets in this market. Past, present and future prices of The Gnosis network (GNO) The price of the Gnosis (GNO) token hit its first peak on New Years Eve 2017-2018 at a price of $396.86, thereafter the price fell throughout 2018 and remained low until half way through 2020, when the price began to climb again. GNO’s price climbed steadily throughout the second half of 2020 and the whole of 2021, reaching its all time high of $529.48 in late December of 2021. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, GNO does fall under this category. According to some analysts, the future price of The Gnosis network (GNO) could reach up to $1,019.82 by 2025 and could see a price of more than $3217.74 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. GNO Price Predictions Sources: finance.yahoo.com, coinmarketcap.com, cryptonewsz.com
Cryptocurrency: The end of crypto exchange Voyager journey?

Coinshares: "Bitcoin may continue to fall but will hit another all-time high in the next 24 months (...)" Yesterday's US CPI Caused Sell-Off, But Bitcoin Increased Over 1%

Alex Kuptsikevich Alex Kuptsikevich 14.07.2022 11:38
Bitcoin rose 1.1% on Wednesday, ending the day around $19.7K, and was back above $20K on Thursday morning. Ethereum has added 4.3% to $1100 in the past 24 hours. Top altcoins are adding from a modest 0.1% (Dogecoin) to a more notable 3.7% (Solana). Total crypto market capitalisation, according to ConMarketCap, rose 2.6% overnight to $896bn. US inflation data came out stronger than expected yesterday, which triggered an impulsive wave of dollar appreciation and a sell-off in risky assets, sending Bitcoin briefly below $19K. However, it is essential to note that the first cryptocurrency found buyers quite quickly on the decline to these levels and has already more than recovered its losses. This is a notable moment, as crypto has often taken on the role of a leading indicator of market sentiment in recent months. According to KuCoin, cryptocurrencies are popular in Saudi Arabia, with around 3 million residents investing in digital assets. Bitcoin may continue to fall but will hit another all-time high in the next 24 months, according to CoinShares. At the same time, the rate is not expected to fall below $14,000. The US Treasury Department has sought public comment on digital assets’ potential benefits and risks. According to President Biden’s executive order, the Treasury is to study the impact of cryptocurrencies on the financial system, economic growth, and national security. The Bank for International Settlements (BIS) has called for central banks to create “bridges” between the various national digital currencies (CBDC) that would allow tokens to interact with each other.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Altcoins: Maker (MKR) - What Is It? - A Deeper Look Into the Maker (MKR) Platform & It’s Relationship With DAI

Rebecca Duthie Rebecca Duthie 14.07.2022 15:57
Summary: What is The Maker Platform and how does it work? Advantages of the Maker exchange. Maker’s past, present and future price positions. Read next: Altcoins: Gnosis (GNO) - What Is It? - A Deeper Look Into the Gnosis (GNO) Platform  The Maker Exchange Maker (MKR) is the governance token of the MakerDAO which is a decentralised application and Maker Protocol which is a software platform, both of which are based on the Ethereum blockchain which allow users to manage and issue the DAI stablecoin. The Maker project whose task is to operate DAI, DAI is a stablecoin that is based on the Ethereum (ETC) blockchain, whose development and issuance is managed by the makerDAO decentralised autonomous organisation and the maker protocol. DAI’s price is soft-pegged to the US Dollar and is collateralised by a mixture of different cryptocurrencies all of which are deposited into smart-contract vaults everytime that new DAI are minted. MKR tokens act as a kind of voting share for the organisation that manages DAI, they do not pay dividends to the token holders, however, they do give the holders voting rights over The Maker Protocol’s development. The MKR tokens are also expected to appreciate in value in accordance with DAI’s success. The Maker ecosystem happens to be one of the earliest projects on the DeFi scene. Decentralised Finance (DeFi) refers to the industry that seeks to build decentralised financial products on top of smart-contract-enabled blockchains, such as Ethereum. The current market capitalisation for the Maker protocol is more than $805 million. There is a maximum supply of 1,005,577 tokens and 97,631.04 (97%) of them are currently in circulation. How is Maker (MKR) unique? The uniqueness of MKR lies in the fact that it allows its holders to participate directly in the DAI governing process. Every MAker token holder is awarded with the right to vote on a number of changes to the Maker protocol, their voting power is dependent on the size of their MKR stake. Some of the aspects of the protocol the holders can vote on are: Adding new collateral asset types to the protocol, allowing users to submit new cryptocurrencies to mint more DAI; Amend the risk parameters of existing collateral asset types; Change the DAI Savings Rate: holders of DAI tokens can earn savings by locking them in a special contract, and the Savings Rate impacts the profitability of that contract; Choose the oracles — entities whose goal is to supply trustworthy off-blockchain data to the Maker ecosystem; Upgrades to the platform. The ability for MKRs token holders to participate in the management of one of the largest stablecoins on the market is mainly what drives demand for the MKR tokens and thus, affects their value. Advantages of the Maker protocol The Maker platform has one of the highest total value “locked” (TVL) in a Decentralised Finance (DeFi) application at around $15.5 billion. There are more than 400 applications and exchanges that now use Dai and it’s a common trading pair within the DeFi ecosystem. MKR coin holders have an opportunity to vote on how the platform runs and oversee Dai. Maker accepts multiple assets as collateral, including centralised stablecoins and assets. Past, present and future prices of The Maker network (MKR) The first price peak for the Maker (MKR) token happened on 1 January 2018 at a price of $1,386.99, thereafter the price of MKR saw volatility with prices jumping upwards and downward until the start of 2021. At the start of 2021 and all through the quarter of the year the price of MKR climbed to reach its all-time highest price of $4,355.27 in April. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, MKR does fall under this category. According to some analysts, the future price of The Maker network (MKR) could reach up to $7,534.46 by 2027 and could see a price of more than $46,924.73 by 2032. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. MKR Price Chart Sources: sofi.com, coinmarketcap.com, finance.yahoo.com, technewsleader.com
Bitcoin Began To Move Up Today, Does That Signifies A Shift In Trend?

Could Bitcoin Be Banned!? BTC Gained Almost 5%, Cardano Added 1.7%, SOL Increased By 7%

Alex Kuptsikevich Alex Kuptsikevich 15.07.2022 09:06
Bitcoin rose 4.9% on Thursday, ending at around $20,700, and retreated 200 at the start of trading on Friday. Ethereum has added 7.3% in the past 24 hours to $1190. Top altcoins gained between 1.7% (Cardano) and 7% (Solana). Crypto Market Cap According to CoinMarketCap, the total crypto market cap is up 3% overnight to $925B.Bitcoin was in demand in the US session on Thursday amid a rebound in US stock indices. BTC rose above the $20,000 level and tested three-day highs around $20,900.Bitcoin’s hash rate fell 27% to 159.41 EH/s due to a shutdown of miners in Texas. The figure was the lowest since February this year. Miners shut down equipment to save power due to the record heat wave.During June, the cost of mining bitcoin fell from $24K to $13K, which could boost coin sales by miners and become a barrier to BTC growth, JPMorgan said. According to Thomas Peterffy, CEO of Interactive Brokers, there is a high probability that bitcoin will be outlawed.The US government could ban cryptocurrencies out of concern that they are being used to finance illegal activities, tax evasion, and the Treasury Department’s inability to monitor transactions involving crypto assets.Cryptocurrency lender Celsius has filed for “immediate” bankruptcy in the US Bankruptcy Code, Chapter 11.A federal court in New York has frozen the remaining assets of cryptocurrency hedge fund Three Arrows Capital after the company filed for emergency bankruptcy.The European Central Bank has decided on the parameters of the future digital euro and intends to issue it in 2023. The success of CBDC will depend on its mass use.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Crypto: Technical Analysis Of Bitcoin Price (BTC To USD)

InstaForex Analysis InstaForex Analysis 15.07.2022 10:25
Relevance up to 09:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin is back inside the ascending channelCrypto Industry News: The European Central Bank expects the completion of the digital Euro project in autumn 2023 and assumes that if the digital Euro project is to be fully successful, it must be universally accepted by all users in Europe. Yesterday, the European Central Bank (ECB) released a list of key targets in connection with the introduction of the digital Euro. The authors of the document presented are Christine Lagarde (bank president) and member of the management board, Fabio Panetta. The document attached to the list describes some fundamental issues concerning the design of the digital version of the single currency of the European Union. "The digital Euro can only be successful if it becomes part of the daily lives of Europeans. It must add value compared to existing solutions," reads the published post. Both authors said it was too early to agree on the details of the project, however the ECB anticipates the end of the project's investigation phase in autumn 2023. The ECB initiated the digital Euro project in June 2021. In October, the launch of the two-year research phase of the central bank's digital currency (CBDC) study was announced. Until now, sporadic hints have been made about the introduction of the digital Euro over the next four years and how the ECB is likely to limit the amount in circulation to 1.5 trillion euros ($ 1.5 trillion). All of this is to control any negative impact this may have on financial stability. Lagarde and Panetta also announced that the digital Euro is to be a means of payment, not a form of investment. Technical Market Outlook: The BTC/USD pair has bounced back up inside the ascending channel and retrace 50% of the last wave down already. In a case of further bounce extension, the next target is 61% Fibonacci retracement level located at $21,134. The level of $21,867 will now act as a technical resistance for bulls. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key technical levels.     Weekly Pivot Points: WR3 - $27,913 WR2 - $24,489 WR1 - $23,135 Weekly Pivot - $21,065 WS1 - $19,711 WS2 - $17,641 WS3 - $14,217 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712.   Read more: https://www.instaforex.eu/forex_analysis/284642
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

Altcoins: ETH/USD - Technical Analysis (Ethereum To US Dollar)

InstaForex Analysis InstaForex Analysis 15.07.2022 10:26
Relevance up to 09:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Navin Jain, director of Mastercard Indonesia, said Mastercard will support Fasset's efforts to promote financial integration in the country. Financial services company Mastercard has partnered with crypto gateway provider Fasset to jointly develop digital solutions that can drive adoption in Indonesia. The cooperation is aimed at expanding financial integration in the country and expanding the possibilities of the local economy. In a release, Navin Jain, national director of Mastercard Indonesia, said the collaboration would support Fasset's efforts to foster financial integration in the country. According to Jain, the partnership will help residents gain greater access to digital technology. Hendra Suryakusuma, director of Fasset, said there are 92 million people in Indonesia who do not have a bank account. Fasset and Mastercard will fill this gap, according to Suryakusuma, to ensure better access to digital financial services. Technical Market Outlook: The ETH/USD pair is back inside the channel and the bulls really want to test the supply zone located between the levels of $1,255 - $1,281. The momentum is at the level of 50 points already, so the bulls might soon break back inside the positive territory as well. The intraday technical support is seen on the level of $1,071 and $1,114. The larger time frame trend remains down and as long as the key short-term technical resistance, located at the level of $1,281, is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $1,466 WR2 - $1,412 WR1 - $1,321 Weekly Pivot - $1,181 WS1 - $1,090 WS2 - $950 WS3 - $718 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 12th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284644
5 Cryptocurrencies To Keep A Watch On: Uniswap (UNI), Decentraland (MANA), Algorand (ALGO), NEM (XEM), ZCash (ZEC)

5 Cryptocurrencies To Keep A Watch On: Uniswap (UNI), Decentraland (MANA), Algorand (ALGO), NEM (XEM), ZCash (ZEC)

Rebecca Duthie Rebecca Duthie 15.07.2022 14:39
Summary: A summary of UNI, MANA, AQLGO, XEM, ZEC Automated Market Maker Model, NFTs, Liquidity pools Proof of work, proof of stake, proof-of-history, proof-of-importance. Uniswap (UNI) Platform Uniswap is an automated liquidity provider that operates on the Ethereum blockchain, Uniswap is also supposed to make it easier for users to exchange Ethereum (ERC-20) tokens. The Uniswap protocol does not have a central facilitator (intermediary) nor an orderbook, instead tokens are exchanged through liquidity pools that are defined by smart contracts. Uniswap is the largest decentralised exchange (DEX) on the Ethereum blockchain. It acts as a medium of exchange for people anywhere in the world wanting to trade cryptocurrencies without a need for an intermediary. UNI is Uniswaps governance token, owning these tokens allow users to vote on any key changes. Uniswap is also one of the largest cryptocurrencies on Coinbase, in terms of market capitalization. Uniswap is powered by the Automated Market Maker model, this works by users supplying Ethereum tokens to Uniswap’s liquidity pools, thereafter algorithms set market prices based on the laws of supply and demand. Read more: Altcoins: Uniswap Protocol (UNI), What Is it? - A Deeper Look Into The Uniswap Protocol  Decentraland (MANA) platform Decentraland defines itself as a virtual reality platform, it is powered by the Ethereum blockchain which allows its users to experience, create, and monetise applications and content. In this virtual world, users can buy plots of land and monetise them by navigating and building upon them. Decentraland uses two tokens, MANA and LAND. MANA is an ERC-20 token that requires being burned in order to gain non-fungible ERC-721 LAND tokens (NFTs). MANA tokens can be used by users to buy a range of wearables, avatars, names and more on the Decentraland marketplace. Read more: Altcoins: Decentraland (MANA), What Is It? A Deeper Look Into The Decentraland Platform  Algorand (ALGO) platform Algorand is a self-sustaining, decentralised, block-chain based network which supports many applications. The aforementioned systems are scalable, efficient and secure, all of which are critical for effective applications in the real world. In addition, Algorand supports computations that require reliable performance guarantees in order to create new forms of trust. Algorand claims to be the world’s most “decentralised, scalable, and secure blockchain infrastructure”. The Algorand platform is sustainable and is powering economic models of the future through generative NFT art (and everything that comes in between) and decentralised finance (DeFi). The Algorand platform is releasing scalability through the use of fusing TradFi and DeFi, and accelerating sustainability globally. Algorands mainnet went live in June 2019, and was able to process almost 1 million transactions per day as of December 2020. Algorand was the first ever permissionless proof-of-stake (PoS) protocol on the blockchain and its performance is nothing short of phenomenal. The platform is a smart contract platform that is similar to Ethereum, but has some key differences that make it more advantageous. Read next: Altcoins: Algorand (ALGO), What Is It? - A Deeper Look Into The Algorand Platform  NEX (XEM) Platform NEM or “New Economy Movement”, aims to provide a more efficient way to move blockchain assets and verify them for enterprise-level clientele. To this extent, the company functions as a sort of missing link between the public and private blockchains through connecting this network in ways that expand usability. The NEM platform introduces a new consensus mechanism to the market, the Proof-of-Importance (PoI), this new consensus takes into account the time and amount of money users have invested in the NEM network. The Proof-of-Importance algorithm has the requirement that a user has more than 10,000 XEM vested in the system in order to generate new blocks. Users that are able to add new blocks to the NEM blockchain receive rewards and a portion of the transaction fees generated. Supernodes borrow a users Proof-of-Importance score linked to their account to complete blocks on the users behalf. This ensures the NEM remains secure without requiring all users to exert effort. Read more: Altcoins: NEM (XEM) What Is It? - A Deeper Look Into The NEM Platform  ZCash (ZEC) Platform ZCash is a decentralised cryptocurrency that places its focus on anonymity and privacy. The ZCash exchange uses the zero-knowledge (zk-SNARK) proof of technology, which allows the nodes on the network to verify transactions without revealing any sensitive information regarding those transactions. Although making transactions on the ZCash platform still requires being relayed through a public blockchain, ZCash does not reveal the receiving and sending addresses or the amount being transacted. However, if desired by the user, this information can be revealed on request for auditing or regulatory compliance needs. ZCash has four types of transactions, Public (t-to-t): occurs between two transparent addresses. Shielding (t-to-z): occurs between a t-address(sender) and a z-address (receiver), transaction is private on the z-address but public on the t-address. Deshielding: (z-to-t): occurs from t-address to z-address, the transaction is private on the z-address but public on the t-address. Private (z-to-z): occurs between a t-address and a z-address, all aspects of the transaction are not visible to the public, only recording that a transaction did occur. Read more: Altcoins: ZCash (ZEC), What Is It? - A Deeper Look Into The ZCash Platform  Sources: FXMAG.com  
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Crypto: June - More Bitcoins Sold Than Produced!? BTC/USD - Technical Analysis!

InstaForex Analysis InstaForex Analysis 18.07.2022 10:45
Relevance up to 09:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The latest data from blockchain analytics company Arcane shows that publicly traded miners sold more BTC in June than they produced. From January to April of this year, they only got rid of 20% to 40% of their production, sticking to their hodl strategy at all costs. The dynamics changed, however, as BTC plunged from $ 40,000 to $ 30,000 in May. The report identified companies such as Core Scientific and Bitfarms as the mining entities with the largest share of the decommissioning. The former dropped nearly 10,000 Bitcoins, leaving "only" 1,959 BTC, while Bitfarms sold 3,353 BTC. Meanwhile, Northern Data wiped out all of its Bitcoin and Ethereum holdings in May and June. Arcane Research said the massive sales will pay off with the upcoming infrastructure upgrades and machine deliveries. In 2021, miners were able to raise funds to cover the costs of mining. Now, however, access to external capital has weakened drastically due to rising interest rates and less investor interest in Bitcoin. Technical Market Outlook: The BTC/USD pair has bounced 7% in the last 24h, but is still trading inside the ascending channel. In a case of further bounce extension, the next target is seen at the level of $22,492, which is the local high from July 8th. The level of $21,867 will now act as a technical support for bulls. The larger time frame outlook for Bitcoin remains bearish, however, we have unconfirmed Bullish Engulfing pattern on the Daily time frame chart, so please stay focused and keep an eye on the key technical levels. The gamechanger level is located at $25,367.     Weekly Pivot Points: WR3 - $23,780 WR2 - $22,629 WR1 - $22,245 Weekly Pivot - $21,487 WS1 - $21,094 WS2 - $20,326 WS3 - $19,175 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367.   Read more: https://www.instaforex.eu/forex_analysis/284842
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

How Much Energy Does Proof-of-Stake Crypto Need? ETH/USD Technical Analysis

InstaForex Analysis InstaForex Analysis 18.07.2022 11:00
Relevance up to 09:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The European Central Bank has expressed concerns about the significant carbon footprint of PoW mining, while pointing to a possible ban on such assets. In an article published earlier this week, bank researchers argued that Bitcoin and Ethereum both have a significant carbon footprint. Reportedly, they consume similar amounts of energy every year as medium-sized countries, including Spain and Austia. Experts also talked about Proof-of-Stake. According to the report, a PoS-based cryptocurrency would require as much energy as a small American town with around 2,100 homes. The article notes that the benefits Bitcoin brings to society is "questionable" while blockchain may have potential benefits. Using analogies, ECB experts described PoW as a cryptographic version of fossil fuel cars and PoS as electric vehicles. Blockchains like Ethereum are already working on the transition from Proof-of-Work to Proof-of-Stake, where the process is expected to be completed by 2023. Meanwhile, ECB experts believe it is "unlikely" that Bitcoin will soon migrate to PoS. Nevertheless, the article states that the transition to renewable energy requires political and social initiatives regarding energy sources and consumption. According to experts, such decisions would favor certain actions and pose a risk to the value of crypto assets. The report also argued that PoW-based crypto assets are inconsistent with environmental, social, and governance (ESG) goals. Therefore, investors need to research whether investing in specific cryptocurrencies is in line with their ESG investment strategy. This is why Tesla has not accepted Bitcoin as payment for goods and services as of May 2021. According to Elon Musk, the company will resume BTC payments when Bitcoin miners start using more than 50% of green energy for their operations. Technical Market Outlook: The ETH/USD pair had broken above the supply zone located between the levels of $1,255 - $1,281 and made a new local high at the level of $1,462 (at the time of writing the article). The momentum is at the level of 65 points already, so the bulls are now controlling the market. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284844
What Is BitTorrent (BTTC)? Speed, File System, Rewards. How Does BitTorrent Work?

Altcoins: SORA (XOR) - What Is It? - A Deeper Look Into the SORA (XOR) Platform

Rebecca Duthie Rebecca Duthie 18.07.2022 17:27
Summary: What is The SORA Platform and how does it work? Uniqueness of the SORA exchange. SORA’s past, present and future price positions. Read next: Altcoins: Maker (MKR) - What Is It? - A Deeper Look Into the Maker (MKR) Platform & It’s Relationship With DAI  The SORA Exchange The SORA platform is about the creation of a supranational economic system that efficiently provides capital to its users, thus, giving humanity a push forward as well as a supranational and democratic governance structure that allocates capital fairly. It is a system with two functions, the first is a new economic system that has decentralised the concept of a central bank, and secondly, it is a network that implements a new way to architect a parachain blockchain which connects to the Polkadot relay chain and ecosystem with built-in tools that focus on decentralised finance (DeFi). The SORA network is extremely good at providing tools for DeFi applications that make use of digital assets, such as bridging tokens to other blockchains, atomic token swaps and aids in the creation of programmatic rules that involve digital assets. SORA XOR is the native utility token for the network. Its uses include: XOR is used for transaction fees (gas) on the SORA substrate network. The XOR is used for elastic supply which is managed by a token bonding curve. The XOR also allows for some holders of a certain amount to become a member or citizen of SORA’s parliament. XOR can also be used to add liquidity to pairs on Polkaswap. XOR can also be used to stake for users to become a validator or to nominate validators on the SORA network. XOR tokens were capped at 350,000 until its SORA v2 substrate network was launched in April 2021, whereby the XOR supply is managed elastically by a token bonding curve smart contract with both buy and sell functions. There are currently 1,011,557.40 XOR tokens in circulation. The total market capitalisation for SORA is currently more than $3.5 million. SORA’s Uniqueness within the crypto ecosystem The SORA platform makes use of a substrate network which bridges Ethereum and will bridge Bitcoin to make cross-chain communications with both blockchains possible, whilst connecting to both Polkadot and Kusama. This move will allow the Bitcoin and Ethereum communities to make use of SORA in order to access both Kusama and Polkadot via a user-friendly bridge. With the integration of Polkaswap, users will be able to trade any asset on Ethereum and Bitcoin on the Kumama and Polkadot networks and provide real cross-chain swaps. The SORA Parliament is the governance structure that is used for the SORA network, one of its main tasks is to allocate any newly minted XOR towards productive projects. The Parliament has many bodies with a clear power separation where the members are randomly selected. It is built around three main concepts: Isonomia: the principle that everyone who is a citizen has political equality Isegoria: the right of all citizens to speak and contribute Sortition: randomly choosing groups of citizens to make decisions To compensate citizens for their time, 1% of the funds that are allocatable to projects for productive uses shall be distributed to citizens. Past, present and future prices of The SORA network (XOR) The price of the XOR token climbed overall throughout the second half of 2020. During the first half of 2021 the XOR price spiked and fell repeatedly and reached a maximum price of $817.455 in early April, thereafter the price of XOR fell and spiked again. Since its maximum price in April 2021, XOR has been on an overall declining trend. The volatility in its price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, XOR does fall under this category. According to some analysts, the future price of The SORA network (XOR) could reach up to $127.67 by 2026 and could see a price of more than $651.84 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. XOR Price Chart Sources: finance.yahoo.com, coinmarketcap.com, medium.com, priceprediction.net
Dogecoin price makes its bullish case, but will DOGE bulls come through?

Dogecoin price makes its bullish case, but will DOGE bulls come through?

FXStreet News FXStreet News 18.07.2022 22:43
Dogecoin price shows a healthy flip of the $0.062 resistance barrier into a support level. Secondary confirmation of this flip will most likely be followed by a 23% rally. If DOGE produces a daily candlestick close below the range low at $0.049, it will invalidate the bullish thesis. Dogecoin price is revealing an interesting development that paints a picture of what will happen next. Investors need to pay close attention to Bitcoin price as it has the power to undo this bullish signal for DOGE. Dogecoin price ready for more gains Dogecoin price has penetrated above the low-time-frame resistance level at $0.062 and turned it into a support floor. If this momentum persists, the $0.049 to $0.078 range’s midpoint will also be flipped into a foothold. These are two major developments that are required for Dogecoin price to trigger a 23% upswing to retest the range high at $0.078. This move will allow DOGE bulls to contest the high-time-frame resistance barrier at $0.082 and potentially flip it. Only if the macro conditions are bullish, especially with Bitcoin price, can investors expect a flip of the $0.082 hurdle into a support barrier. Doing this could further extend the Dogecoin price rally by 13%, bringing the total gain to 40%. DOGE/USDT 1-day chart On the other hand, if Dogecoin price fails to stay above the range’s midpoint at $0.063, it will indicate weakness among buyers. If this downswing produces a daily candlestick close below the range low at $0.049, it will invalidate the bullish thesis. In such a case, Dogecoin price could revisit the $0.041 support level, where buyers will be in a position to attempt another run-up.
Weekly Crypto Analysis: BTC Passes $22K; Ethereum and Celsius in Highlights

Weekly Crypto Analysis: BTC Passes $22K; Ethereum and Celsius in Highlights

Kucoin Blog Kucoin Blog 18.07.2022 16:24
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart The cryptocurrency market has recovered slightly from the same time the previous week, with Bitcoin (BTC) consolidating higher after the Wall Street trading week finished with slight gains for United States equities. The largest cryptocurrency by market cap managed to break the $22,000 mark, but failed to head past the $22,900 resistance we mentioned in the previous week’s weekly analysis. With that said, the global crypto market capitalization has passed $1 trillion once again, pushing up from $916 billion from the past week. Bitcoin has not broken the strong support level, which sits at $22,900 yet, meaning that the upwards momentum may be short-lived. The overall market is still slowly moving away from stablecoins due to the crypto market’s gains. However, USDT and USDC are leading the game. Current exchange inflows are larger than outflows. Considering the overall bearish undertone in the crypto market, head over to KuCoin’s guide on Top 5 Moves to Make in a Crypto Bear Market and learn how to handle market downturns and end up in profit. Let's go deeper and take a look at the most recent crypto market news and Bitcoin's technical outlook. Crypto Market Overview Bitcoin’s price is currently positive, both on the daily and weekly time frames. The largest cryptocurrency by market cap is up 4.11% on the day, and 6.86% on the week. When it comes to market dominance, Bitcoin now holds 40.65% of the market, down from 42.90% the previous week. This is mostly due to altcoins gaining traction and increasing in price, with some of them gaining up to 150%. On Monday, the leading cryptocurrency pair, BTC/USD, is trading at $22,261.73, while Ethereum, the second-largest cryptocurrency by market capitalization, has increased its price to $1,489.67, up 29.56% in the past seven days. Lido DAO (LDO) has rocketed in the past week, recording gains of 159.67%, followed by Polygon’s 63.64% and Ethereum Classic’s 53.33% gains. Cryptocurrency Market Heatmap | Source: Coin360 Last week's worst performers ended up being TerraClassicUSD (USTC), as well as Pax Gold. USTC is down 12.46% to $0.05, and PAXG fell 4.66% to $1,715. The cryptocurrency market remains risk-off due to a series of events we will explore below. Top Altcoin Gainers and Losers Top Altcoin Gainers: ⧫ Lido DAO (LDO) âž  159.67% ⧫ Polygon (MATIC) âž  63.64% ⧫ Ethereum Classic (ETC) âž  53.33% Top Altcoin Losers: ⧫ TerraClassicUSD (USTC) âž  12.46% ⧫ Pax Gold (PAXG) âž  4.66% News Highlights Here are some of the events that made the previous week's crypto news section stand out: BTC Bulls vs. Bears: Overview It seems that there are as many different predictions as there are analysts in the crypto market. We are here to highlight two of the most prominent. Grayscale Investment's latest report shows that the crypto winter could last another 250 days if previous market cycles are to repeat themselves in the same fashion. Grayscale notes that the cryptocurrency market mimics its conventional counterparts with cyclical movements. On the other hand, Glassnode reports that over 80% of the total USD-denominated wealth invested in Bitcoin has been HODLed for at least 3-months. This signifies that most of the BTC coin supply is dormant and that the way holders are playing this out resembles previous market bottoms. Celsius Files for Bankruptcy Celsius, the centralized crypto lending platform led by Alex Mashinsky, filed for Chapter 11 bankruptcy on July 13. The platform had customer funds locked up for several weeks now, but previously claimed to be more trustworthy and safer than a bank - in fact, most of its marketing was tied to them being better than banks. According to an email received by all Celsius customers, the company voluntarily filed petitions for Chapter 11 reorganization. They have used the same firm as Voyager Digital for its bankruptcy proceedings. While it is still unclear what will happen with users’ funds at this stage, it’s a fact that Celsius’ balance sheet shows a $1.2 billion hole. Polygon Selected to Participate in Disney’s Accelerator Program Polygon managed to get an invitation to Disney’s prestigious 2022 accelerator program. This Ethereum-based layer 2 scaling solution was the only blockchain to receive an invite despite this year’s program being focused on different technologies, such as augmented reality (AR), NFTs, and AI. Ethereum Devs Announced Ethereum Merge Date Ethereum developers publicly announced the blockchain’s transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus mechanism. The expected merge date the developers have mentioned is September 19, 2022. While the community now has a date they can look forward to, this merge timeline isn't final, but rather an expected merge date, and that Ethereum supporters should wait for an official confirmation of the timeline. This caused the price of Ethereum to spike close to 30% in the past week, and over 22% since the announcement. However, analysts are stating that the current rally is unsustainable, and that traders and holders should expect a push towards the downside despite a strong short-term outlook. Crypto Calendar: Events to Watch This Week ➺ 18/07/2022 - New Submission Fee (MANA) ➺ 19/07/2022 - ETHCC 5 Conference (ETH) ➺ 19/07/2022 - Youtube Live AMA (GALA) ➺ 19/07/2022 - Community Call (BAT) ➺ 21/07/2022 - TezDev Paris (XTZ) ➺ 21/07/2022 - ReDeFiNE Tomorrow 2022 (AAVE) ➺ 22/07/2022 - Sustainable Blockchain (CRYPTO) USDT and USDC Slowly Losing Dominance The top two Stablecoins by market capitalization, USDT, and USDC, while still holding the 3rd and 4th place in the market capitalization rankings, respectively, are slowly losing their market dominance over the past few weeks. The past week has been incredibly impactful, with numerous cryptocurrencies posting double-digit gains, and almost every cryptocurrency in the top 100 being in the green. This made stablecoins lose out on their market dominance, as most bottom-performers in the past week were stablecoins. Fear and Greed Index Continues to Report "Extreme Fear" The cryptocurrency market’s sentiment has remained bearish and fearful despite the green week behind it. This sentiment is reflected in the Fear and Greed Index's "extreme fear" signal. The sentiment is primarily caused by the uncertainty behind platforms that filed for bankruptcy in recent days. The Fear and Greed Index is currently sitting at 20, a slight downtick from the previous week’s 22. However, we may soon see the index moving towards the mid-levels, provided that the market continues pushing up. Fear & Greed Index | Source: Alternative Bitcoin (BTC/USDT) Analysis on KuCoin Chart The leading cryptocurrency managed to push above the $20,000 mark two weeks ago, with its move continuing in the past week. Data from KuCoin and TradingView showed BTC/USD moving past $22,000 but getting stopped just below the $22,900 Fibonacci retracement resistance level. When retreating from its previous high, Bitcoin has found support in the daily 21-moving average, which currently sits at just below $20,500. The largest cryptocurrency by market cap is now trying to push past its immediate resistance level, and get itself above the $23,000 line. The price of Bitcoin has moved into the middle RSI (relative strength index) zone as it crossed 54 points. This may indicate that, if we don’t see a strong push towards the upside soon, we may see a leg down towards its support levels. BTC/USDT Chart on the Daily Timeframe | Source: KuCoin When it comes to the mid-term Bitcoin outlook, the largest cryptocurrency by market cap is now in the lower part of the Fibonacci retracement, with its resistance levels to the upside being $22,900, $26,150, and then $28,780. When talking about the downside, Bitcoin may find support at the $18,800, or $17,650 levels. Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns. Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe YouTube Channel>>> Source: KuCoin | Cryptocurrency Exchange | Buy & Sell Bitcoin, Ethereum, and more
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Crypto: Bitcoin Price News - BTC/USD Increased By 3%. Why Could BTC Exceed Gold?

Alex Kuptsikevich Alex Kuptsikevich 19.07.2022 09:42
Bitcoin rose 2.9% on Monday, ending the day around $21.5K, and continuing to test the $22K level on Tuesday morning. So far, we are seeing an intensification of selling as buyers push the price up into the 23K area. Ethereum jumped 9.9% to $1480 and is already above $1500 in early Tuesday trading. The rise in recent days is almost a mirror image of the decline from June 10 to 18. Except for XRP, which is down 1.5%, the top altcoins add between 0.6% (BNB) and 4.3% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, rose 2% overnight to $1.02 trillion. Bitcoin is encountering increased resistance to its 50-day simple moving average approach. This line often acts as an indicator of a short-term trend in the markets. Notably, the Nasdaq100 sold off profusely on Monday night to climb above its line but closed the day below it. The market dynamics so far suggest a continued bearish trend in the financial markets’ most closely monitored retail investors and media sectors. Nevertheless, it is worth noting that Ethereum has successfully surpassed its 50-day average, while the dollar index is losing for the third consecutive trading session, indicating a timid recovery in demand for risky assets. The cryptocurrency Fear and Greed Index climbed 10 points to 30, its highest level since April 11 and moving away from ‘extreme fear’ territory to ‘fear’. A June report by Coinbase indicates that speculators were behind the fall in the crypto market, taking massive loans. In addition, according to Arcane Research, miners sold about a quarter of their bitcoin holdings last month to cover running costs. At the same time, long-term holders of bitcoin hardly ever sell it. Former top Blackrock executive Edward Dowd said that, over time, Bitcoin may surpass gold due to its unique characteristics, such as ease of transaction, transparency, and decentralisation.
Technical Outlook Of The Further Movement Of Bitcoin

Altcoins: Wrapped Bitcoin (WBTC) - What Is It? - A Deeper Look Into the Wrapped Bitcoin (WBTC) Platform

Rebecca Duthie Rebecca Duthie 19.07.2022 15:27
Summary: What is The Wrapped Bitcoin (WBTC) Platform and how does it work? Advantages of the Wrapped Bitcoin exchange. Wrapped Bitcoin ’s past, present and future price positions. Read next:Altcoins: SORA (XOR) - What Is It? - A Deeper Look Into the SORA (XOR) Platform  The Wrapped Bitcoin Exchange Wrapped Bitcoin is the tokenized version of Bitcoin (BTC) that runs on the Ethereum blockchain, in other words it is an ERC-20 token. Through a WBTC partner, one Bitcoin (BTC) can be converted into one WBTC (and vice-versa). Bitcoin is the oldest and largest cryptocurrency on the market, the Bitcoin can boast a very large liquidity pool of several billion USD and a very large user base as well. However, the Bitcoin blockchain is relatively basic regarding functionality in accordance with the modern standards. The “wrapping” of Bitcoin into the Ethereum blockchain has enabled full-integration of a Bitcoin-like asset into the advanced Ethereum environment of financial decentralised applications, bringing the immense liquidity pool of Bitcoin with it. Wrapped Bitcoin also makes the job of the exchanges, payment services and wallets much easier that work with Ethereum, this is because the exchanges do not need to run two separate nodes of BTC and ETH networks, instead they can support WBTC operations just through the use of Ethereum node. The current market capitalization of Wrapped Bitcoin (WBTC) is more than $5,244 billion. There is a maximum supply of 237,832 WBTC coins, 100% of which are currently in circulation. There are different types of WBTC models, these include: Centralised, this means users rely on a firm to maintain the BTC assets value - assets are provided to a centralised monetary intermediary. Thereafter, they lock up the crypto in a smart contract and issue the corresponding ERC-20 token. Trustless, more advanced way to lock-up an asset via a decentralised system. Using this method, the centralised custodial responsibilities are transferred over to smart contracts. Your BTC remains locked in a network contract that the platform can’t adjust without approval from you. This strategy provides users with a trustless and autonomous system. Synthetic asset, here users are able to lock their BTC into a smart contract and receive a synthetic asset in return with equal value. Advantages of the Wrapped Bitcoin exchange One of the main advantages of Wrapped Bitcoin (WBTC) is its integration into the Ethereum world, its access to Ethereum wallets, smart contacts and dapps. Wrapped Bitcoin (WBTC) brings greater liquidity to the market. Wrapped Bitcoin (WBTC) integrates BTC liquidity into the flexibility of the Ethereum ecosystem. Thus, WTBC closes the liquidity loop between many DeFi and CeFi products. Scalability, transactions with Wrapped Bitcoin (WBTC) are less costly and faster and also offers more storage and transaction options. Wrapped Bitcoin (WBTC) gives its users more functionalities than just the regular Bitcoin (BTC). For example, WBTC running on the Ethereum blockchain gives WBTC users access to smart contracts. DeFi BTC, it could be argued that the expansion of Decentralised Finance (DeFi) was the basis for the creation of Wrapped Bitcoin (WBTC). Wrapped Bitcoin (WBTC) can be staked, staking is one of the most popular functionalities of DeFi, users who convert their BTC into WBTC can take advantage of next-gen protocols, for example, most require a user to lock their cryptocurrency into a smart contract for an agreed time in exchange for rewards. Yield farming protocols like Compound allow users to earn a passive income through lending out Wrapped Bitcoin (WBTC) to other users in the network via these farming pools. Yield farming has become increasingly popular in DeFi. The advantages mentioned above have aided the growth of Wrapped Bitcoin (WBTC), they have also helped construct a new sector within the crypto industry. Nowadays, more investors than ever wish to utilise WTBC services. Past, present and future prices of The Wrapped Bitcoin network (WBTC) The value of WBTC took awhile to take off after it was launched, its price began to climb in 2021, reaching its peak value $65,546.47 in late November 2021. Since its maximum peak, the value of WBTC has been falling consistently. The volatility in its price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, WBTC does fall under this category. According to some analysts, the future price of The Wrapped Bitcoin (WBTC) network could reach up to $75,239.85 by 2024 and could see a price of more than $81,435.88 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. WBTC Price Chart Sources: finance.yahoo.com, coinmarketcap.com, securities.io, help.coinbase.com, cryptonewsz.com  
Oil pullback ends, gold steadies

Is Crypto Market Crash Coming To An End!? Bitcoin Price (BTC/USD) Icnreased By Almost 10% Yesterday!

Alex Kuptsikevich Alex Kuptsikevich 20.07.2022 10:06
Bitcoin jumped 8.5% to $23,300 on Tuesday, showing a 20.8% gain over the last seven days. Ethereum is trading around $1570 on Wednesday morning, adding 3.4% in 24 hours and an impressive 49% for the week. Altcoins & Total crypto market capitalisation The top altcoins are also rising nicely, adding between 3.9% (Polygon) and 11% (Cardano) for the day. Total crypto market capitalisation, according to CoinMarketCap, rose 4.7% overnight to $1067bn. Bitcoin on Tuesday posted its highest gains in a month on the back of a rebound in US stock indices and a weaker dollar. Bitcoin BTC has tested the highs since June 13 near $23,700, and on Wednesday, it is trying to consolidate above its 50-day moving average. The dynamics near that line often acted as a reliable medium-term trend indicator. Only a strong buy above this level can serve as a firm reversal indicator in the next few days. If the upside momentum stalls, as it did in February and March this year, we should be prepared for a sharp increase in selling. BTCUSD also exceeded the 200-week average during the last growth wave but fixing above this level at the end of the week should be considered a reliable signal. Cryptocurrency Fear & Greed Index The cryptocurrency Fear & Greed Index climbed to 31 by Wednesday after more than two months in "extreme fear" territory. After waves of capitulation in May-June 2022, bitcoin quotes have been below the realised price for a month now. Other signals of a potential bottom forming have also emerged, Glassnode notes. CryptoQuant, the research firm, has warned investors that further sales of BTC miners in a falling market could return pressure on prices.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Altcoins: renBTC (RENBTC) - What Is It? - A Deeper Look Into the renBTC (RENBTC) Platform

Rebecca Duthie Rebecca Duthie 20.07.2022 23:48
Summary: What is The renBTC Platform and how does it work? Uniqueness of the renBTC exchange. renBTC’s past, present and future price positions. Read next: Altcoins: Wrapped Bitcoin (WBTC) - What Is It? - A Deeper Look Into the Wrapped Bitcoin (WBTC) Platform   The renBTC Exchange renBTC is a ERC-20 token that runs on the Ethereum blockchain, RENBTC tokens are pegged to Bitcoin (BTC). Each RENBTC token can always be exchanged for 1 BTC, hence the RENBTC seems to maintain its value at a market rate close to Bitcoins. renBTC is minted on the Ren platform, Ren is an open protocol which allows everyone access to the inter-blockchain liquidity this function helps bring assets from other blockchains to Ethereum decentralised applications (DApps). The renBTC is a direct competitor of Wrapped Bitcoin (WBTC). Minting RENBTC tokens is a fairly uncomplicated process, users simply send their Bitcoin (BTC) to renVM, which secures the BTC asset and mints the equivalent number of renBTC on Ethereum. Unlike other tokens that are backed by Bitcoin, renBTC is not a synthetic token and it is not reliant on any liquidation mechanisms to ensure that its value remains pegged to Bitcoin’s value, instead it is a direct supply peg, this means there are always enough BTC in a reserve to cover the circulating renBTC supply. The process of redeeming RENBTC is just as simple as the process of minting it. The user sends their RENBTC back to renVM (which comes with a small gas fee) which then releases the native BTC token to the users address. The renBTC tokens are then destroyed, this is to ensure that the reduced supply matches the reduced reserve. renBTC is currently the rarest cryptocurrency in the world, with only 4,823 RENBTC in circulation and a maximum supply of 13,689 tokens. The current market capitalisation of renBTC is $115,317,425. Advantages and Disadvantages of renBTC Advantages: One of the main advantages is the flexibility that is provided through the use of the REN protocol, one can basically turn their tokens into any of the supported tokens with little problems. The minting and burning of the renBTC tokens is a relatively simple, very secure and private process. Generating RENBTC tokens is actually one of the most private means to participate in the decentralised finance (DeFi) world apart from DAI. Another advantage of RenBTC is its speed, once users obtain the RENBTC token they depend on Ethereum times, the internal process that is handled by the Ren protocol is fast thanks to its consensus protocol that is called Hyperdrive. RENBTC also allows interoperability that few projects are able to achieve currently, this has allowed the project to position itself at the top of the DeFi world. Disadvantages: One of the main disadvantages is the RENBTC is an ERC-20 token and therefore is limited by Ethereums limitations. Past, present and future prices of The renBTC network (RENBTC) RENBTC token’s price took off within a few months of being launched, reaching its first peak within the first quarter of 2021 reaching a price of $61,061.45. Thereafter, its price declined, however remained elevated, the next major drop in price occurred during the second quarter of 2021. RENBTC began climbing again and reached its all time maximum price of $63,826.73 in November of 2021. Since its maximum price in November 2021, RENBTC has been on an overall declining trend. The volatility in its price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, RENBTC does fall under this category. According to some analysts, the future price of The renBTC network (RENBTC) could reach up to $51,500 by 2026 and could see a price of more than $1,237,471 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. RENBTC Price Chart Sources: finance.yahoo.com, coinmarketcap.com, academy.bit2me, rarest.org,
What caused the bankruptcy of the cryptocurrency lender, Celsius?

Celsius Bankruptcy - What Supported The Fall Of The Crypto Lender?

InstaForex Analysis InstaForex Analysis 20.07.2022 16:07
Relevance up to 14:00 2022-07-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. At the time of writing, bitcoin has already surpassed the $ 23,800 mark and is certainly going for the $ 24,280 level of resistance. Ether is likewise on the verge of revising its monthly limit. Before discussing the technical picture, however, it is important to note that the increase in optimism on the cryptocurrency market and the American stock market is directly tied to a decline in concerns that the Federal Reserve System will continue to hike interest rates rapidly. The recent impact of the US central bank's tightening of monetary policy on risky assets has been significant, resulting in a decline in the values of cryptocurrencies and the stock market.     The US central bank is anticipated to raise interest rates again at its next monetary policy meeting. However, economists anticipate a less aggressive hike of 75 basis points rather than 100 basis points, as predicted last week following the release of inflation and retail sales data. Any reduction in interest rate hikes will be viewed favorably by the market, especially considering that a large number of assets are now trading at reasonable levels. Optimists anticipate the bitcoin rebound to $ 29,500 by the end of this week. Do not forget, however, that even while the Federal Reserve System dislikes surprises, the remarks of its representatives can greatly chill the market. In addition, it is a positive development that the news of the sharp bankruptcy of huge hedge funds, cryptocurrency managers, and credit organizations, which became public this month, is gradually receding. A recent interview with one of Celsius's former directors revealed that problems have been building for years, but no one has been in a hurry to resolve them. Recent reports indicate that the largest cryptocurrency lender has filed for bankruptcy. According to analysts, many internal failures led to the cryptocurrency company's recent collapse. Several employees portrayed a picture of risk that was excessive, alluding to attempts to manipulate the market for financial gain. In an interview, Timothy Cradle, a former director of Celsius, stated that the primary issue was a failure of risk management. "I believe Celsius's concept of providing loans to organizations in desperate need was brilliant, but no one knew how to handle risks there." The business froze consumer accounts a month ago, citing "extreme market conditions." In June, the company had 1.7 million users and $ 11.8 billion in deposits before filing for bankruptcy against the backdrop of the cryptocurrency market collapse. Celsius secretly leased client-raised funds to hedge funds and other businesses eager to pay even larger profits. Additionally, the business invested in additional high-risk cryptocurrency ventures. As stated previously, the revenue model imploded alongside the price of cryptocurrencies, causing several organizations to freeze their assets and at least three to declare bankruptcy. Eventually, all the "hype and dust" will settle down, and there will be people with money to invest in new cryptocurrency trends and directions, but investors and managers must draw the correct conclusions from everything, although greed, as always, will push them to succumb to temptation – only the strongest will survive.     Regarding Bitcoin's technical prospects, the balance of power has shifted slightly. In the case of a collapse in the trading instrument, speculators will defend the closest support, around $ 22,875, which plays an important role. Its breakdown and consolidation below this range will cause the trading instrument to return to the lows: $ 21,875, $ 21,140, and $ 20,500, which are close to $ 19,880 and $ 19,320. In the event of a further upward reversal, bears will manifest in the region of $ 24,280 closest resistance. Fixing higher will drive the trading instrument to a new ceiling of $ 25,750, allowing investors to relax further. The region of $ 26,780 will be a more distant objective. Ether remains in the limelight, with buyers concentrating on the $ 1,640 resistance level. Only once growth surpasses this level can we anticipate a bigger surge with an upgrade to the maximum of $ 1,740 and the possibility of a medium-term rise. A return to $ 1,740 and consolidation on that level will spur new purchases to update the $ 1,830 resistance, for which a fierce battle will resume. In the event of ETH pressure, bulls will attempt to defend $ 1,470. Based on this range's breakdown, it is prudent to anticipate purchases in the region of $ 1,385 and $ 1,320.   Read more: https://www.instaforex.eu/forex_analysis/316717
Bitcoin Maintains A Steady Bullish Potential

Crypto: Tesla (TSLA) Has Sold 75% Of Its Bitcoins (BTC)!

Alex Kuptsikevich Alex Kuptsikevich 21.07.2022 09:37
How long does forever last? Just over a year, if you're Elon Musk. Tesla has indicated in its quarterly report that it has sold three-quarters of its Bitcoins, citing uncertainty. The past selling does not change the market disposition, as all transactions have already been made. However, investor sentiment is perhaps the main driver in this market, where a mathematical algorithm governs issuance. BTC/USD And this sentiment has been hit at a rather crucial moment. As a result of short-term investors' frustration, BTCUSD failed to break away from its 50-day moving average. The price stabilised at 23000 at the time of writing, hovering around this trendline. Failure to cross this line in a sharp move is a bearish signal. The closest development would be Bitcoin's return to the local support area at 19000. Ethereum Ethereum has lost 5.7% in the past 24 hours, to $1480. Leading altcoins have fallen even further, from -4% (Dogecoin) to 11% (Solana). Total crypto market capitalisation fell 3.6% to $1.03 trillion, according to CoinMarketCap. According to CoinShares, capital inflows into crypto funds last week were $12.2m, with $14.8m coming into the funds on bitcoin shorts. Regular bitcoin products saw a net outflow of $2.6m. The fall of the crypto market was caused by "greed, ignorance and misguided risk management", Galaxy Digital CEO Mike Novogratz said. He noted the collapse of the Terra ecosystem, which was the trigger for the subsequent problems of Celsius Network, Voyager Digital and Three Arrows Capital. A bipartisan bill to regulate the crypto industry in the US could pass as a full-fledged document in 2023, Wyoming Senator Cynthia Lummis said. She said that some lawmakers would need more time to handle the topic. SEC chief Gary Gensler said the crisis in the crypto market would require a reworking of investor protection laws.
NFT As A Part Of Final Fantasy VII Anniversary Celebration

NFT News: Astonishing GameStop's NFT Sales! Polygon Becomes A Member Of Project Of Disney

Crypto.com Accelerate the... Crypto.com Accelerate the... 20.07.2022 14:27
Polygon joins Disney’s NFT AI Accelerator Program as the sole native blockchain. GameStop generated approximately US$1.98M worth of NFT sales on its first day. Users can now purchase OpenSea collectibles on Crypto.com NFT. Key Takeaways Polygon joins Disney’s NFT AI Accelerator Program as the sole native blockchain. In Disney’s press release, Polygon is among six companies selected for the Accelerator, which focuses on building the future of immersive experiences using technologies such as augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI). GameStop NFT marketplace reportedly generated around $1.98M worth of NFT sales on its first full day of business. The platform charges a 2.25% fee on NFT sales, equating to roughly $44,500 worth of fees. Users can now discover and purchase OpenSea collectibles on the Crypto.com NFT platform. There are no gas fees charged when users list and sell the collectibles to their fellow Crypto.com NFT users. LooksRare recorded a +19% increase in sales and a -2% decrease in transactions. Meanwhile OpenSea‘s sales were negative at -6%, while its transaction count also decreased -13%. Crypto.com NFT in the Spotlight The upcoming collection “To the Moon” by Cristóbal Balenciaga features over 8,000 never-before-seen designs. In respect to the women Cristóbal designed for, this drop will feature a plethora of redeemables such as Balenciaga gear, gift cards to designer brands, and even the 70-year-old drawings by Cristóbal.  “The Culture of Tarogramma” features NFTs which serve as artefacts from the fictional world of Tarogramma. Each NFT reveals something of the unique rituals, history, and culture of The Land of Tarogramma; from mystical regions to quiet cafes. Highlights Announcing OpenSea’s Solana launchpad Time Magazine looks to turn all future subscriptions into NFTs CryptoPunks floor price tops $100K in ETH for first time in two months Hyundai files new trademark for NFTs and VR The NFL scores a touchdown with its NFT ticket stub initiative Quik․com opens minting for NFT domain names Funko plans to launch Jay and Silent Bob NFT collection via the digital collectibles platform Droppp Care Bears launches NFTs to celebrate its 40th anniversary Legendary Rockers the Goo Goo Dolls launch debut NFT collection Rankings: Most popular Decentraland wearables creators Bored Apes creator warns of threat group targeting NFT communities Transaction Volume Benchmark     Top Collectibles     * Source: CryptoSlam.io The following chart shows selected top NFTs and their historical floor prices. Upcoming NFT Sales The following table shows the top upcoming NFT sales and a sample of their art. Project NameSale DatePriceItemsMarket CapSample Bearded Buddies 04 Aug 2022 0.26 (ETH) 10,000 2,600 (ETH) Krilian. The change! 9 Sep 2022 0.2 (ETH) 8,888 1,777.6 (ETH) Cyber Knights 31 Jul 2022 0.15 (ETH) 10,000 1500 (ETH) Arctic Alligators 22 Aug 2022 0.08 (ETH) 10,000 800 (ETH) Shibacademy NFT game 30 Jul 2022 1.5 (SOL) 8,888 13,332 (SOL) * Sources: Rarity Tools, Crypto.com Top Artists The following table shows selected top artists (by sales volume on each platform) and a sample of their art. PlatformArtistSales Volume (USD)Sample Crypto.com NFT Loaded Lions $134,100 Magic Eden Liberty Square: The Sinister Squirrel Syndicate $1,309,701 OpenSea CryptoPunks $23,448,744 Author Research and Insights team Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES NFT Source: NFT (Week 28, 13/07/2022 – 19/07/2022) (crypto.com)
Layers 1 & 2 (Week 29, 19/07/2022 – 25/07/2022)

Crypto: Bitcoin Mining Stopped In Texas! Ethereum Price Is Willing To Rise As Merge Is Incoming

Crypto.com Accelerate the... Crypto.com Accelerate the... 20.07.2022 14:08
Ether’s price rises 12% ahead of the Merge, and Vitalik Buterin responds to PoS critics. Heat wave halts Bitcoin mining in Texas Lido plans to bring stETH to layer-2 networks. Key Takeaways Ethereum’s (ETH) price jumped 12% ahead of the Merge, while Vitalik Buterin responded to PoS critics. Texas miners paused operations amid the heat wave, with Bitcoin’s (BTC) hash rate dropping 27%.  Lido (LDO) announced plans to bring stETH to layer-2 networks, while stETH narrowed its price gap with ETH. Cronos’ (CRO) price reached US$0.13, an increase of +15.82% from last week. Highlights Ethereum scaling solution StarkNet announces token launch for September Helium network team resolves consensus error after four-hour outage Nervos Network (CKB) price posts double-digit gain after Godwoken layer-2 launch Paraguay’s new bill may turn the country into mining heaven Axie Infinity’s SLP burn rate exceeds minting rate for first time since August 2021 Dogecoin foundation director launches survey about potential DOGE hackathon this year Shiba Inu discloses key BONE updates as release of Shibarium approaches Bitcoin miners sold 14.6k BTC in June, a 4x increment from May and suggesting capitulation Bitcoin miner Marathon Digital signs multiple hosting deals to reach its hashrate view 140 million Shiba Inu burned as burn rate spikes 137%: report Layer 1 Project Metrics     * % change is based on the difference between two subsequent bi-weekly periods† Sum of P, X and C-chain total transactions ‘–’ denotes missing, unavailable, or incomplete dataSources: Coingecko, Etherscan, Ethernodes, Cardanoscan, Avascan, Solana Beach, FTMscan, BSCscan, CronoScan, Cronos Explorer, DeFi Llama Layer 2 Project Metrics     * Figure refers to Lightning nodes with active channels† Ronin is the sidechain developed by Sky Mavis for Axie Infinity ‘–’ denotes missing, unavailable, or incomplete dataSources:  DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer Author Research and Insights Team Tags CRYPTO RESEARCH CRYPTOCURRENCIES LAYER 1 LAYER 2 Source: Layers 1 & 2 (Week 28, 12/07/2022 – 18/07/2022) (crypto.com)
5 Cryptocurrencies To Keep A Watch On: Yearn.Finance (YFI), Ethereum Classic (ETC), GARI ($GARI), Decred (DCR), Celsius (CEL)

5 Cryptocurrencies To Keep A Watch On: Yearn.Finance (YFI), Ethereum Classic (ETC), GARI ($GARI), Decred (DCR), Celsius (CEL)

Rebecca Duthie Rebecca Duthie 22.07.2022 16:08
Summary: A summary of YFI, ETC, GARI, DCR, CEL. Automated Market Maker Model, NFTs, Liquidity pools. Proof of work, proof of stake, proof-of-history, proof-of-importance. The Yearn.Finance network Yearn.finance (YFI) is an Ethereum based token that governs the yearn.finance platform. The platform is a yield organiser, which moves funds around the decentralised finance (DeFi) ecosystem in an effort to generate a higher return. Yearn.finance is an aggregator service for decentralised finance (DeFi) investors through the use of automation, allowing them to maximise profits through yield farming. Its goal is to simplify the DeFi space for those investors who are not technically minded or those who wish to interact in a manner less committal than that of serious traders. Yield farming is a process of staking cryptocurrencies in an attempt to earn a passive income. The yearn.finance platform is an automation tool that invests into the liquidity pools of various cryptocurrencies and other projects to deliver the best profits. Read more: Altcoins: Yearn.Finance (YFI), What Is It - A Deeper Look Into The Yearn.Finance Platform  The Ethereum Classic Network The Ethereum Classic platform exists in response to the contract censorship that exists on sister chain Ethereum. Ethereum Classic has managed to resist censorship against all odds, and has managed to deliver Ethereum's original vision of unstoppable applications. Ethereum Classic's main function is a smart contract network that has the ability to host and support decentralised applications (DApps). Ethereum Classic’s native token is ETC. Since its launch, Ethereum Classic strives to differentiate itself from Ethereum, and over time has succeeded as its roadmap is diverging further and further apart with time. Ethereum Classic combines the technology of Ethereum with Bitcoin’s philosophy, Ethereum Classic is uniquely placed perfectly to be the smart contract platform of the future, as other chains can become compromised or captured by special interests. Read more: ETC Meaning. Altcoins: What Is Ethereum Classic (ETC)? How Has Ethereum Classic Price Changed?  The GARI network Chingari App is a short video-sharing app that pays its content creators based on how viral their videos become. With every upload, creators get points per view which can be exchanged for money. Chingari has been labelled India's version of Tiktok. Chingari has partnered up with Solana to build and launch GARI on a decentralised exchange in 2023. Chingari is the largest on chain social graph on web3. $GARI NFT marketplace, which will launch in 2023 acts as both an in-app currency and as a governance token. This will give creators the authority over future platform development. Recall that non-fungible tokens (NFTs): are unique cryptographic tokens that exist on a blockchain and cannot be replicated. They represent a real-world item, by purchasing these real world items through NFTs, it makes purchasers less vulnerable to fraud and the process of buying and selling more efficient. The Decred Network The Decred token and protocol were created to facilitate community interaction, open governance and sustainable funding policies. According to the platform's official whitepaper, Decred was created in a way that the community has to approve all transactions and changes made regarding the protocol. Therefore, ensuring there is no way that big Decred holders can manipulate the protocol's operations. Decred is innovative due to the way it bets on blockchain technology’s decentralised nature to prevent monopoly over voting status in the project itself. One of Decreds main goals is to ensure that all DCR holders have the same amount of decision making power and that large institutions are unable to swing votes in their own favour. Read more: Altcoins: Decred (DCR) - A Deeper Look Into The Decred Platform  The Celsius network The Celsius Network platform aims at financial freedom without a price tag, where ethical behaviour is the baseline thing and the peoples interest is the main priority. The Celsius Network Platform encourages a financial place where everyone can succeed financially. The platform integrates a bunch of services that have been abandoned by big banks, for example, zero-fees, fair yield and extremely fast transactions. The main goal of Celsius network is to disrupt the financial industry, one user at a time and to introduce financial freedom through crypto. Celsius plans to outperform the current financial services industry by offering its users benefits that banks no longer offer, such as higher returns on deposits and savings, easier and fairer (easily obtainable) loan requirements and rewards that are automated algorithmically for each user. The platform waives penalties and bank-style fees. The Celsius platform also has a Celpay feature which functions as a wallet for users and hosts its own CEL token, which users are able to leverage to increase, amongst other things, payout value. Read more Altcoins: Celsius Network (CEL), What Is It ? - A Deeper Look Into The Celsius Network Platform  Sources: FXMag.com
Altcoins: GALA (GALA) - What Is It? - A Deeper Look Into the GALA (GALA) Platform

Altcoins: GALA (GALA) - What Is It? - A Deeper Look Into the GALA (GALA) Platform

Rebecca Duthie Rebecca Duthie 22.07.2022 19:27
Summary: What is The GALA (GALA) Platform and how does it work? Advantages of the GALA exchange. GALA ’s past, present and future price positions. Read next: Altcoins: GALA (GALA) - What Is It? - A Deeper Look Into the GALA (GALA) Platform  The Gala Network Gala Games wants to change the gaming landscape by returning ownership of the gaming experience to the gamers. Making "blockchain games you'll actually want to play" is Gala Games' goal. The goal of the project is to make it so that gamers can no longer spend hundreds of dollars on in-game items and endless hours playing games that can be taken away from them at any time with the push of a button. By providing players authority over the games and in-game assets with the aid of blockchain technology, it aims to bring back creative thinking in gaming. In the Gala Games ecosystem, players can control game governance by owning non-fungible tokens (NFTs). Gamers can vote on which games should be funded and developed by Gala via the Founder's Nodes voting system. Gala Games uses its own utility token, GALA, in addition to purchasing NFTs for particular games. Gala Games has thus far only made available one playable game, called Town Star, and one NFT collection series, called VOX. Future game releases are planned, including fantasy RPGs, sci-fi strategy games, and tower defense games. Gala Games is not just one game; rather, it provides a wide selection of several blockchain games that prioritize pleasure above blockchain. Town Star, the sole playable game at the moment, is a browser-based simulation of a town. Similar to SimCity's gameplay, players of Town Star truly own the town they are managing. The current market capitalisation for GALA is currently, $378,910,641. There is a total supply of 35,240,112,493 tokens, 6.98 billion are currently in circulation. Advantages of the GALA platform Profits, GALA offers the opportunity for its users to have a gaming experience and walk away from it with actual value. It is a significant improvement for everyone involved if players have the option to convert and exchange their digital assets both inside and outside of the game environment. Gala developers can also add additional priceless resources to their ecosystems. Blockchain-based games give the market the ability to instantly verify authenticity. Gamers can thus accurately estimate how rare a particular digital item might be. The worth of the object as a whole is increased by this feature. Real economies, Gala's ability to include a real economy into its game products is another significant advantage. There are already some sizable MMORPGs on the internet with functional economies. Due to the fact that these markets are solely centered on one video game, they are constrained in terms of both nature and liquidity. Gala's assets may be marketed for sale. Using this technique, the creators can also produce components for several games. Past, present and future prices of The GALA network (GALA) The volatility in its price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, GALA does fall under this category. According to some analysts, the future price of The GALA (GALA) network could reach up to $7.54 by 2025 and could see a price of more than $31.25 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. GALA Price Chart Sources: coinmarketcap.com, securities.io The price of GALA took awihle to take off, the price began to rise in September of 2021 and climbed to its all time high of $0.7121 in late November 2021. Thereafter the price began to fall consistently to date.
Altcoins: Filecoin (FIL) - What Is It? - A Deeper Look Into the Filecoin (FIL) Platform

Altcoins: Filecoin (FIL) - What Is It? - A Deeper Look Into the Filecoin (FIL) Platform

Rebecca Duthie Rebecca Duthie 25.07.2022 17:16
Summary: What is The Filecoin (FIL) Platform and how does it work? Advantages of the Filecoin exchange. Filecoin’s past, present and future price positions. Read next: Altcoins: GALA (GALA) - What Is It? - A Deeper Look Into the GALA (GALA) Platform  The Filecoin (FIL) network The mission of Filecoin is to "store humanity's most critical knowledge" in a decentralized database. The project's initial coin offering (ICO) garnered $205 million in 2017, and its mid-2019 launch date was once anticipated. The debut of the Filecoin mainnet, however, has been postponed until block 148,888, which is anticipated in mid-October 2020. The project was initially introduced in 2014 as an incentive layer for the peer-to-peer storage network known as IPFS. Filecoin is an open system that is supported by a blockchain that keeps track of the promises made by users of the network. Transactions are made using FIL, the blockchain's native currency. Both proof-of-replication and proof-of-spacetime are the foundations of the blockchain. Filecoin Uniqueness Decentralised data storage is the goal of Filecoin. In contrast to centralised cloud storage providers like Amazon Web Services or Cloudflare, Filecoin uses its decentralised nature to safeguard the integrity of a data's location, making it simple to retrieve and difficult to censor. Decentralised storage platforms like Filecoin make the internet more accessible to people all around the world while also enabling individuals to be their own data custodians. Participants in the Filecoin network are incentivized to act honestly and store as much data as possible because doing so directly correlates to earning greater block rewards. How is the Filecoin (FIL) network secured Proof-of-replication and proof-of-spacetime are used to protect Filecoin. In the Filecoin network, retrieval miners, also known as nodes, compete to provide data to clients as quickly as possible. A network of nodes that desire to duplicate and maintain files is thus encouraged by the payment of FIL fees. Storage miner nodes are continually vying for contracts to offer storage to customers for a predetermined period of time. In the event that a storage miner and their client reach an agreement, the storage miner will hold the client's data in a sector and "seal" it to produce an exclusive copy of that sector's data. Clients pay deal fees to storage miners in the form of FIL, and these miners can mine blocks and earn a block reward. Advantages of the Filecoin network Verifiable storage: Filecoin has mechanisms built in to examine the file history and ensure that it has been correctly storing files over time. Every storage company demonstrates that they are keeping their files up to date within each 24-hour period. Even if the client was not online at the time, users can quickly examine this history to ensure that their files have been saved appropriately. Any observer can look up the history of any storage provider and find out if it has ever had problems or gone offline. Open market: Deals for the storage and recovery of files are negotiated in open markets in Filecoin. The Filecoin network is open to everyone and requires no authorization. A spare disk space and an internet connection are all that are needed to run a storage provider. Filecoin provides a healthy ecosystem of numerous independent storage providers by lowering entrance barriers. Competitive prices Reliable storage Reputation, not marketing Choice of tradeoffs Censorship resistance Useful blockchain Provides storage to other blockchains Content addressing Content distribution network Single protocol No lock-in Open source code Active community Past, present and future prices of The Filecoin network (FIL) The price of Filecoin (FIL) took a while after being launched, the price remained low until half way through 2020. The price began to rise consistently, reaching an all-time high of $182.69 in April of 2021. The volatility in its price has since staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FILE does fall under this category. According to some analysts, the future price of The Filecoin (FIL) network could reach up to $31.11 by 2025 and could see a price of more than $188.18 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FIL Price Chart Sources: finance.yahoo.com, chanelly.com, coinmarketcap.com. docs.filecoin.io
Altcoins: Harmony (ONE) - What Is It? - A Deeper Look Into the Harmony (ONE) Platform

Altcoins: Harmony (ONE) - What Is It? - A Deeper Look Into the Harmony (ONE) Platform

Rebecca Duthie Rebecca Duthie 26.07.2022 17:38
Summary: What is The Harmony (ONE) Platform and how does it work? Advantages of the Harmony exchange. Harmony’s past, present and future price positions. Read next: Altcoins: Filecoin (FIL) - What Is It? - A Deeper Look Into the Filecoin (FIL) Platform  The Harmony platform Blockchain platform Harmony makes it easier to build and use decentralised applications (DApps). The network focuses on random state sharding, which enables the creation of blocks in just a few seconds, with the goal of innovating the way decentralised apps operate. By the end of 2021, cross-shard contracts and a cross-chain infrastructure are planned to be introduced by Harmony, according to the project website. The Harmony mainnet seeks to reinvent block creation by putting an emphasis on processing speed and validity. The business drastically decreased node validation times by implementing the sharding method. The Verifiable Random Function (VRF) for impartial and unpredictable shard membership was established by Harmony to assure the protection of nodes and the security of the validation process. This indicates that validators and nodes are randomly assigned and reassigned. An effort of the project called Harmony Grants attempts to encourage innovation and draw developers to the Harmony mainnet. A new iteration of the proof-of-stake (PoS) consensus is introduced by Harmony. This technique, known as effective proof-of-stake (EPoS), permits concurrent staking from a large number of validators. This consensus technique was created in conjunction with the Harmony network's sharding concept. EPoS is intended for quicker processing times and increased scalability, in contrast to proof-of-work (PoW) consensus algorithms. Staking consensus methods rely on a large number of value holders who act as validators, whereas PoW demands a lot of electrical and computer resources. In order to draw in more node operators, Harmony is also aiming to increase staking incentives. By rewarding stakeholders with the most ONE tokens, the Harmony Open Staking program promotes network interaction. The current market capitalization for Harmony is $245,023,620. There is a maximum supply of 13,542,671,656, 12.32 billion are currently in circulation. Advantages of the Harmony Platform Harmony provides its users with the opportunity to enter the decentralised application (DApps) space. Harmony also improves the infrastructure behind blockchain, it is an ambitious project that ensures faster and more reliable solutions. Harmony has an impressive list of involved partnerships, these partnerships also range across a wide variety of industries. Harmony's development team is suited well according to its project. An environment for the end-to-end transmission of cryptocurrency has been developed by the well-known and ambitious project Harmony. This is accomplished by incorporating current networks that enable consumers to change fiat currency to cryptocurrency and vice versa. Investors have a variety of reasons to choose Harmony as their next greatest investment, according to the company. The following are the main factors that Harmony is luring investors: It is a quick and dependable blockchain that includes important breakthroughs like sharding and peer-to-peer (P2P) networking. The Harmony project aids companies in creating markets for the use of NFTs and fungible tokens. One of the first sharded blockchains that support staking is Harmony. Past, present and future prices of The Harmony network (ONE) Harmony’s price took more than a year to begin rising and gaining value, the first price peak for this crypto was seen in the first quarter of 2021 thereafter the price continued to spike both up and down. Harmony reached a maximum price of $0.339 in september of 2021. The volatility in its price has since staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ONE does fall under this category. According to some analysts, the future price of The Harmony (ONE) network could reach up to $0.11 by 2025 and could see a price of more than $0.25 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ONE Price Chart Sources: finance.yahoo.com, coinmarketcap.com, sashares.co.za, capital.com
The Bitcoin Fall Will Likely Continue In The Future

Crypto Market: What Could Support Bullish Climate?

InstaForex Analysis InstaForex Analysis 27.07.2022 14:53
Relevance up to 09:00 2022-07-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin continues to hold the level of $21k, despite the gathering clouds ahead of expectations from the Fed meeting. At the moment, the cryptocurrency fell to the support level of $20.6k, where it met fierce resistance from buyers. As a result, the sellers retreated, and the price of BTC/USD consolidated above $22k. Despite the local positive, the cryptocurrency market continues to stand still, while network activity and trading volumes are declining.     All this is happening against the background of two fundamental events that will determine the future direction for the cryptocurrency and stock market. The Fed meeting on July 27–28 is assumed to carry out the decision of the regulator to raise the key rate in the range of 75 to 100 bps. In addition, department officials will voice their positions on the overall situation with the US economy and the inflation rate. Judging by the growing optimism and the retention of the $20.6k support zone, the market is ready for a further rate hike. This is a positive signal indicating a gradual preparation for a price reversal.     On July 28, reports on US GDP growth for the second quarter will be published. Recall that in the first quarter of 2022, the economic indicator decreased by 1.6%. If the downward trend continues, we can expect the onset of a recession. And despite all the assurances of the US Treasury Secretary, leading analytical publications predict the entry of the United States economy into a state of recession. Despite the general deterioration of the economic situation, Bitcoin and stock indices can benefit from pessimistic forecasts.     Deutsche Bank experts report that stock markets are beginning to recover due to weak reporting by leading companies for the second quarter of 2022. The bank's analysts also report that the publication of weak reports from Google, Amazon and data on US GDP growth may provoke further increase in interest in company shares. The growth of consumer activity after the sale and weak reporting was observed earlier, and therefore it is likely that in the coming weeks, the stock market and company shares will rise in price due to increased demand.     The activation of investors in relation to high-risk assets will have a positive impact on Bitcoin, which maintains a high level of correlation with leading indices. According to the latest research, the correlation between BTC and NASDAQ is at its highest in the last two months. At the same time, a high level of correlation with the S&P 500 index remains, which indicates an increasing likelihood of an upward movement of Bitcoin following stock indices. The cryptocurrency has experienced the biggest sell-off in its history, and the stabilization of the situation has a positive effect on the use of BTC as a risk hedge against economic instability.     It is also important to note that the current rate of accumulation of BTC coins by the main investor audiences will eventually lead to a gradual increase in the scarcity of the asset. With a looming recession and the need to stimulate the economy, the Fed will be forced to start the printing press. In such a situation, USD or EUR will be at a disadvantage, and Bitcoin can try itself as a reserve vehicle.     The current week will determine the further direction of the cryptocurrency price movement. And judging by the growing interest in the shares of companies, Bitcoin is getting more and more fundamental factors that indicate the growth of quotes. The DXY index formed the first confident bullish candle in the last 11 days, but continues to be in consolidation. The asset failed to break the resistance level at 107, which gives high-risk assets additional time to realize bullish momentum. DXY technical indicators signal a drop in interest in the index. The stochastic oscillator is implementing another bearish crossover, while the RSI and MACD continue to slowly decline.     Bitcoin continues to stabilize and hold key support areas. Due to this, the investment attractiveness of the cryptocurrency and its functionality are growing. The asset is approaching the stage of recovery, when the ability of BTC to maintain capital during market and economic turmoil becomes relevant again. The mood towards the cryptocurrency is positive, but the stock market will play a key role in maintaining the bullish mood.   Read more: https://www.instaforex.eu/forex_analysis/317295
Dogecoin Could Start The Next Impulsive Rally

Meme Coins - DOGE: What Do FXStreet Analysts Think About Dogecoin Price?

FXStreet News FXStreet News 27.07.2022 16:20
Mark Cuban believes Dogecoin is fun, considers it a starter drug for beginners in crypto. A senior cryptocurrency research analyst at Messari argues Dogecoin’s social sentiment and daily transactions are similar to Cardano. Analysts note Dogecoin price remains at risk of decline, a breakout is possible only on a specific condition. Mark Cuban, Dallas Mavericks boss recently commented on what happens to cryptocurrencies when speculators leave. Cuban addressed the state of Dogecoin, the starter drug for crypto. A senior research analyst at Messari identified similarities between Dogecoin and Cardano, sharing his findings. Also read: Dogecoin and Shiba Inu bleed in Pre-FOMC crypto snoozefest Dogecoin is the starter drug of crypto: Dallas Mavericks Boss Billionaire entrepreneur and Dallas Mavericks boss Mark Cuban commented on Dogecoin. Cuban argued that Dogecoin is a tool of speculation and the state of the meme coin is what it would be like, when “all speculators leave.” Cuban spoke about Dogecoin in a recent episode of the Full Send podcast, describing Dogecoin as the “starter drug for crypto.” Cuban chose this title for the meme coin as it is cheap, has a high utility, and can be used for making payments. In 2021, Cuban accepted DOGE as a payment for tickets and merchandise, in addition to cryptocurrencies like Bitcoin and Ethereum, Cuban was quoted on the podcast, When people were buying and trading Dogecoin a lot, we were making thousands of dollars a week, ten thousand a week, here and there. So it was real money for us. But at the same time, once people stopped speculating on it, people lost kind of the vibe for it. Cuban believes speculation was the leading factor for Dogecoin price decline. Analyst believes Dogecoin is similar to Cardano Tom Dunleavy, Senior Cryptocurrency Research Analyst at Messari identified similarities between Dogecoin and Cardano. Dunleavy notes that Dogecoin’s market capitalization exceeded $75 billion during the bull run. Dogecoin’s daily transactions and social sentiment are similar to Cardano. Despite the meme coin’s market capitalization decline from $75 billion to $8.2 billion, Dunleavy argues that DOGE has bucked the trend of other networks. DOGE increased transaction volume and active addresses during the recent market downturn. FXStreet analysts believe Dogecoin price is at a dangerous level and identified key price levels to watch for a shift in the meme coin’s trend. For more information, check the video below:
Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

Bitcoin Price (BTC/USD) And Crypto Market In General Are Expected To React More Significantly To Monetary Policy Decisions

InstaForex Analysis InstaForex Analysis 27.07.2022 18:40
Relevance up to 15:00 2022-07-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Bitcoin began with a correction on Wednesday morning; by the time of writing, its value had dropped to $21,282. According to CoinMarketCap, a website for tracking the value of digital assets, over the past day, the lowest price of bitcoin reached $20,776, and the highest was $21,266.     The key reason for the high volatility of bitcoin in recent days, cryptanalysts call the July meeting of the US Federal Reserve to combat record inflation by raising interest rates. The announcement of the results of the meeting of representatives of the US central bank is scheduled for today. So, the day before, the experts of the analytical company Kaiko reported in their report that the volatility of BTC significantly soared in the first hours of the Fed meeting. According to analysts from Kaiko, a high correlation of bitcoin with the decisions of the Fed was recorded in the summer of 2021, which indicates that the cryptocurrency market has long been influenced by key macroeconomic indicators. So, when in May 2022 the Fed increased the rate range to 0.75-1% per annum, the value of the first cryptocurrency sharply overcame the level of $40,000, but on the same day it collapsed below $36,000, launching the process of a protracted correction. In June of this year, when the US central bank raised the key rate to 1.5-1.75%, the BTC instantly reacted with spectacular growth. Experts are confident that in the coming months, the digital asset market will respond even more strongly to the speeches of the world's central banks, because often an increase in the interest rate sharply reduces the ability of investors to invest in risky assets such as virtual currency. Altcoin Market Bitcoin's main competitor, the Ethereum altcoin, also started the trading session with a correction and by the time of writing the material had dropped to $1,438. As for cryptocurrencies from the top 10 by capitalization, over the past day, all coins, except Cardano, were traded in the green zone. At the same time, the best results here were shown by the Binance Coin digital asset (+3.88%), and the lowest results were shown by the Cardano mentioned above (-0.71%). During the past week, all cryptocurrencies from the top ten, except for a number of stablecoins, declined in price. At the same time, the greatest losses were recorded at Solana (-20%). According to CoinGecko, the world's largest aggregator of data on virtual assets, over the past day, among the top 100 most capitalized digital assets, the Monero coin topped the list of leaders (+8.2%), and Radix took the first place in the drop list (-4.9%). According to the results of the past week, the BitDAO coin showed the best results among the hundreds of the strongest cryptocurrencies (+5.6%), and the worst – Arweave (-21.2%). According to the website for tracking the value of digital assets CoinMarketCap, over the past day, the total capitalization of the crypto market has fallen below the key level of $1 trillion. So, at the time of writing, this indicator is at around $983 billion. Forecasts of Cryptanalysts The unpredictable behavior of bitcoin forces experts to make the most multidirectional predictions about its future. Blockchain analyst Matthew Hyland confidently stated that by December 2022 bitcoin is able to set a new historical record of $100,000 amid growing demand for altcoins and their shortage. Recently, the CrowdWisdom portal suggested, although not so positive, but still quite encouraging scenario for bitcoin growth. According to the company's analysts, the cost of the first cryptocurrency will reach $35,746 in 2022. Cryptanalyst Ouriel Ohayon also sees the prospects for a positive movement of bitcoin. The expert believes that record volumes of purchases of digital assets on cryptocurrency exchanges indicate the high potential of bitcoin. However, not all participants in the virtual coin market believe in the bright future of bitcoin. More skeptical crypto enthusiasts believe that bitcoin has not yet reached its bottom and ahead of it is a collapse to $8,000. Guggenheim Global Chief Investment Officer Scott Meinerd recently spoke about this forecast. He calls the tight monetary policy of the Fed as the key reason for the decline of BTC to such extreme levels. Previously, the well-known analyst Matthew Hyland suggested that the growth of bitcoin realized in mid-July is just a temporary correction after a prolonged fall. The opinion of a colleague is shared by the CEO of Silvergate exchange Alan Lane, who said the day before that the crisis of the crypto industry is not over and may soon become more painful. According to the head of Silvergate, in the near future, most exchanges and cryptocurrency funds will continue to experience serious financial problems. Crypto expert Nicholas Merten is more positive and claims that the digital asset market is ahead of a sharp rise that will lead to liquidations of the BTC bears. In the near future, Merten predicts a rally to $30,000 on the crypto market. Despite the fact that the expert expects confident growth from bitcoin in the short term, he doubts that the main virtual coin will reach the bottom, explaining that macroeconomic conditions are still significantly pressing on the crypto market. Meanwhile, the head of the Binance exchange Changpeng Zhao said that despite the failures of many crypto projects, the number of traders and companies in this industry continues to increase permanently. In addition, the CEO stated that the trust of institutions, as well as the popularity of decentralized finance platforms and non-interchangeable tokens, is also constantly and steadily growing.   Read more: https://www.instaforex.eu/forex_analysis/317346
5 Cryptocurrencies To Keep A Watch On: Axie Infinity (AXS), SHIBA-INU (SHIB), Klaytn (KLAY), Sandbox (SAND), Chronoly (CRNO)

5 Cryptocurrencies To Keep A Watch On: Axie Infinity (AXS), SHIBA-INU (SHIB), Klaytn (KLAY), Sandbox (SAND), Chronoly (CRNO)

Rebecca Duthie Rebecca Duthie 01.08.2022 15:14
Summary: A summary of AXS, SHIB, KLAY, SAND, CRNO. Automated meme coins, NFTs, Virtual worlds. Proof of work, proof of stake, proof-of-history, proof-of-importance. Axie Infinity platform Axie infinity is a trading battling game that is block-chain based and is partly owned and partly operated by its players. The Axie Infinity platform was inspired by popular games such as Tamagochi and Pokemon, and allows users to breed, raise, collect, battle and trade token-based creatures that are called Axies. The Axie Infinity platform is Ethereum based. These Axies can take various forms, and there are more than 500 different body parts that are available on the platform. Each different part comes with a different rarity scale, from common, rare, ultra-rare and legendary. Axies can have any combination of body parts, making them highly variable and often rare and unique. Each Axie is a non-fungible token (NFT) each with different strengths and attributes and can be entered into 3v3 battles with the winning team earning more experience (exp) points, these experience points can be used to level up the stats or evolve the body parts of an Axie. These Axie’s can be bred together to create new and unique offspring, which can either be used or sold in the Axie marketplace. Shiba-Inu Platform SHIBA INU is a type of meme token. A meme coin is a form of cryptocurrency that originated from an online meme or viral image, Shiba Inu is named after the japanese dog breed who has the same name. The price movements of meme coins are frequently linked to sentiment around breaking news and influencer activity on social media. Shiba Inu is a decentralised cryptocurrency, it runs on the Ethereum blockchain platform, giving the token the same functionality and safety of the Ethereum platform. The Shiba Inu token is not a coin, a crypto token is one that is built on top of an already existing blockchain, and this is exactly what Shiba Inu has done, they do not have their own blockchain. Klaytn Platform Klaytn is an open-source public blockchain for all who wish to play, build or in the metaverse. The Klaytn platform is a public blockchain that is focused on gamefi, the metaverse and the creator economy. The platform was launched in June 2019, it is South Korea's most dominant blockchain and is currently in the process of undergoing a global business expansion from its international base in Singapore. The expansion of the network is funded by the Klaytn growth fund, which has plans for the ecosystem built on Klaytn. The fund is managed and disbursed by the Klaytn foundation, a Singapore based non-profit organisation that was established in August 2021. The Klaytn Foundation offers partnerships to artists, enterprises or studios. Klaytns native token is KLAY, there is a maximum supply of 10.782 billion tokens, 2.88 billion of those are currently in circulation. The current market capitalisation is more than $706 million. Read more: Altcoins: Klaytn (KLAY), What Is It? - A Deeper Look Into The Klaytn Platform’s Metaverse  The Sandbox platform The Sandbox platform was launched by Pixowl in 2011. It is a block-chain based virtual world that allows users to create, buy, build and sell digital assets in the form of a game. The combination of decentralised autonomous organisations (DAO) and non-fungible tokens (NTFs) the Sandbox creates a decentralised platform for a gaming community that thrives. In accordance with the whitepaper, the Sandbox platform’s main mission is to successfully introduce blockchain technology into mainstream gaming. The platform's focus is on facilitating a “play-to-earn” model creatively, which allows users to be both gamers and creators simultaneously. The power of blockchain technology for the Sandbox came with the introduction of the SAND utility token, which facilitates the platform's transactions. There are a maximum number of 3 billion SAND tokens, 1.26 billion of these are currently in circulation. The current market capitalisation is more than $1.485 billion. The Sandbox platform was built on top of the Ethereum blockchain and it is secured with the proof-of-stake consensus algorithm, the SAND token is a standard ERC-20 token, this means owners can stake it and benefit from its staking rewards. Read more: Altcoins: The Sandbox (SAND), What Is It? - A Deeper Look Into The Sandbox Platform, A World For The Gaming Community  The Chronoly Platform Chronoly is at the present time, the only altcoin whose value is backed by real assets. In the case of Chronoly, the assets that are backing this crypto are, at the present, only investment-grade luxury watches. The Chronoly platform is the world's first fractional watch investment platform on the Ethereum blockchain. The Chronoly crypto made its debut in May of 2022. Chronoly stores each of its classic watches securely in a vault, but before they do this, there is an exact replica model made in the form of an NFT (Non-fungible token). Each NFT thereafter is fractionalised so that a single fraction of the NFT can be sold for as little as $10. Thus, everyone who buys into a Chronolgy NFT buys a small part of the watch. Read more: Altcoins: Chronoly (CRNO) - A Watch NFT !? A Deeper Look Into the Chronoly (CRNO) Platform Sources: fxmag.com
German industrial production slumps for third straight month, raising recession risk

Altcoins: Potcoin (POT) - What Is It? - A Deeper Look Into the Potcoin (POT) Platform

Rebecca Duthie Rebecca Duthie 04.08.2022 01:40
Summary: What is The Potcoin (POT) Platform and how does it work? Advantages of the Potcoin exchange. Potcoin’s past, present and future price positions. Read next: 5 Cryptocurrencies To Keep A Watch On: Axie Infinity (AXS), SHIBA-INU (SHIB), Klaytn (KLAY), Sandbox (SAND), Chronoly (CRNO)  The Potcoin (POT) Exchange A cryptocurrency called PotCoin was developed to fill a banking gap in the legal marijuana sector. Customers can purchase cannabis products anonymously with PotCoin as well. PotCoin was designed as a cryptocurrency that makes transactions in the legal cannabis industry more quick, easy, and secure. Three enthusiasts using the online aliases Hasoshi, Mr. Jones, and Smokemon 514 released PotCoin in January 2014. They were later identified as Montreal-based developers Joel Yaffe and Nick Iverson. PotCoin is a specialized coin that is only used by the legal marijuana sector. The nearly complete lack of banking services available to legal cannabis enterprises in the US is a major driver of the need for PotCoin. Financial institutions are generally forbidden from offering their services to businesses that handle Schedule I narcotics like cannabis because cannabis is still illegal at the federal level in the United States. The proof-of-stake-velocity (PoSV) protocol is the operating system used by the PotCoin blockchain. PoSV, a variant on the more popular proof-of-stake algorithm, rewards coin holders for regularly conducting transactions with their cryptocurrency. Proof of work was PotCoin's operational protocol up until 2015. Similar to Litecoin, potcoin has minimal transaction costs and quick processing times. But unlike Bitcoin and Ethereum, PotCoin does not have a sizable user base, which makes it less liquid and more price volatile. Large price swings can be caused by news stories about the cannabis sector. There are other cannabis-focused cryptocurrencies like CannabisCoin and DopeCoin, though PotCoin is one of the most popular at the moment. There is a maximum supply of 420,000,000 POT coins, 227,647,383 of those are currently in circulation. The current market capitalisation of $584,020. Advantages & disadvantages of the Potcoin exchange Advantages: With the use of PotCoin, cannabis consumers and sellers can perform online transactions directly without the assistance of conventional financial institutions. Growing cannabis businesses that need access to fundamental banking services are served by PotCoin. The anonymous purchasing of marijuana flower and related products is supported by PotCoin. Despite being a little coin, PotCoin has a wallet. Disadvantages: The cannabis sector represents the sole use case for PotCoin. It could be difficult for those who are unfamiliar with cryptocurrencies to use PotCoin. PotCoin is an illiquid cryptocurrency because of its erratic market price and small trading volume. Transactions involving PotCoin might be de-anonymized by federal investigators. Past, present and future prices of The Potcoin network (POT) The price of Potcoin (POT) took off early on in 2018, reaching its all time high price of $0.39, thereafter the price fell over the course of 2018, and remained low throughout 2019 and 2020. During the first half of 2021, POT’s price increased slightly, however dropped and has remained low since. The volatility in its price has since staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, POT does fall under this category. According to some analysts, the future price of The Potcoin (POT) network could reach up to $0.011 by 2025 and could see a price of more than $0.071 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. POT Price Chart Sources: finance.yahoo.com, coinmarketcap.com, fintechmagazine.com, technewsleader.com
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Crypto Market: Bitcoin To US Dollar (BTC/USD) - Technical Analysis - 04/08/22

InstaForex Analysis InstaForex Analysis 04.08.2022 08:16
Relevance up to 07:00 2022-08-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Bitcoin Valley is a project that aims to strengthen "crypto-tourism" in Honduras. The bitcoin town is located in Santa Lucia, a commune in the south of the country. As part of this initiative, more than 40 local companies recognized bitcoin as a form of payment. Bitcoin Valley is the first bitcoin city in Honduras. The initiative to attract new tourists takes place in Santa Lusia, a small town 20 minutes from the country's capital, Tegucigalpa. The project was jointly developed by Blockchain Honduras, Guatemalan Coincaex cryptocurrency exchange, Honduras University of Technology, Decentral Academy and Santa Lucia Municipality. Cesar Andino, owner of Los Robles shopping plaza in Santa Lucia, will now accept BTC as payment. Last week, he informed the media that he was waiting for the delivery of devices that would allow companies to accept payments in the first cryptocurrency. He also adds: "In Santa Lucia, we will all be involved in this project ... The adoption of bitcoin will open us up to a different market and attract more customers. We need to globalize. We cannot close ourselves off on technology and be left behind when other countries are already doing it." Carlos Leonardo Paguada Velasquez, founder of Blockchain Honduras and representative of the Central American Cryptocurrency Users Association (Acucrip), announced a few days before the official launch of Bitcoin Valley that around 60 companies would be involved in the project. Technical Market Outlook: The BTC/USD pair has hit the 50% Fibonacci retracement level located at $22,679 and the bulls are trying to use this level as a base for a bounce higher. The intraday technical support is seen at $22,507. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,000 is possible before the bulls will wake up and start buying again. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidate. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $23,739 WR2 - $23,529 WR1 - $23,421 Weekly Pivot - $23,319 WS1 - $23,211 WS2 - $23,110 WS3 - $22,900 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/287240
Crypto: Ethereum (ETH) - What Is It? The Merge Explained

Crypto: Ethereum (ETH) - What Is It? The Merge Explained | KuCoin

Kucoin Blog Kucoin Blog 05.08.2022 12:25
Table of Contents: · What is Ethereum? · What milestones has Ethereum achieved since its 6th anniversary? · What is the Merge? · Why is the Merge important? · What might happen in the future? · Closing thoughts Ethereum ushered in a new era in blockchain technology. Unlike Bitcoin, which serves as a distributed ledger for peer-to-peer transactions, Ethereum features smart contracts. Smart contracts provide the building blocks for decentralized applications (dApps).   Through dApps, the blockchain went from being just a decentralized, immutable, and transparent ledger to becoming a global network that supports a wide range of use cases. For instance, there are dApps for lending and borrowing cryptocurrencies, gaming, and exchanging tokens, to mention a few.   The Ethereum network primarily supports ETH, the second-largest cryptocurrency capitalization. Like Bitcoin, Ethereum currently relies on a Proof-of-Work (PoW) consensus model to verify transactions. To this end, Ethereum miners that validate transactions get mining rewards.   However, the PoW consensus mechanism has, over the years, come under fire for being energy intensive. Environmentalists argue that PoW mining takes a toll on the climate, especially when miners use fossil fuels to power their rigs.   As a result, Ethereum began transitioning to a Proof-of-Stake (PoS) model. PoS relies on a user’s stake instead of power. This feature makes it 99% more effective than PoW. By transitioning to PoS, Ethereum seeks to become more sustainable and eco-friendly.   What Milestones Has Ethereum Achieved Since Its 6th Anniversary? Following Ethereum’s sixth anniversary on July 30, 2021, Ethereum has implemented four upgrades on its journey to becoming a PoS blockchain. These are London, Altair, Arrow Glacier, and Gray Glacier.   London came first on August 5, 2021 on block number 12,965,000. This upgrade introduced EIP-1559, which changed the transaction pricing mechanism to include a fixed per-block fee, which the network burns. This pricing mechanism also expands or contracts block sizes to deal with congestion, thus increasing mining speed.   Altair was the first scheduled upgrade for Ethereum’s Beacon Chain, and it shipped on October 29, 2021. This fork added support for sync communities. It enabled light clients, which helped reduce the overhead needed to determine the head of the chain, thus increasing the network’s decentralization.   Arrow Glacier shipped on December 9, 2021. This upgrade postponed Ethereum’s difficulty bomb for several months, offering developers more time to develop ETH 2.0. The difficulty bomb forces the Ethereum PoW network to stop issuing blocks, making mining disadvantageous for miners and discouraging network users from using the PoW mining when the network switches to PoS.   Gray Glacier shipped on June 30, 2022, and it delayed the difficulty bomb by three months.   In between the upgrades, ETH recorded a significant milestone in its price history. On November 16, ETH set a new all-time high (ATH) of $4,891.   Additionally, the number of unique Ethereum addresses soared from 164.73 million to 201.37 million as of July 21. This denotes an average growth rate of 144.1 million.   What is the Merge? The Merge is the most significant update in Ethereum’s history. This upgrade represents when Ethereum will transition to a PoS network. Following this upgrade, the current Ethereum mainnet will merge with its new PoS consensus layer, dubbed the Beacon Chain.   The Beacon Chain shipped separately from the Ethereum mainnet in December 2020. Since then, it has been running parallel to the mainnet as a different blockchain network. This means the Beacon Chain has not been recording mainnet transactions. Instead, it reaches a consensus by agreeing on active validators and their account balances.   Why is the Merge Important? When the Merge ships, the Ethereum mainnet and Beacon Chain will become one, marking Ethereum’s transition to a PoS model. The update is expected to ship in Q3 or Q4 2022. Ethereum has carried out extensive testing to ensure the network seamlessly transitions to PoS when the Merge ships.   After the Merge, the Beacon Chain will become Ethereum’s consensus engine. This means the role of generating valid blocks will shift from miners to PoS validators.   It is worth noting that Ethereum’s history will remain intact even after the Beacon Chain becomes the consensus engine. As such, ETH holders don’t need to worry about funds disappearing from their wallets after the network shifts to PoS.   What Might Happen in the Future? After the Merge, Ethereum’s developers plan to continue developing the network until it is powerful enough to help all of humanity. According to Ethereum co-founder Vitalik Buterin, the Merge would only make Ethereum 55% complete.   The network’s future upgrades include, but are not limited to, a four-part fork that developers have dubbed “surge, verge, purge, and splurge.” This upgrade is set to introduce more security and decentralization to Ethereum after it shifts to a PoS model.   Buterin believes the end of Ethereum’s roadmap will result in a more scalable blockchain network. He projects that Ethereum should be able to complete 100,000 transactions per second by the end of its development journey. This will be a massive milestone for the blockchain, which currently processes about 15 transactions per second.   Closing Thoughts By transitioning to PoS, Ethereum will undergo significant changes. While scalability comes as a perk, Ethereum will become less decentralized, meaning the network’s security will also take a hit. However, by embracing careful design choices, Ethereum can minimize the impact of drifting from what it initially set out to become; a decentralized and open blockchain network.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: Ethereum Celebrates Its Seventh Anniversary And the Coming Merge| KuCoin
Crypto: KuCoin - Wombat (WOMBAT) - What Is It?

Crypto: KuCoin - Wombat (WOMBAT) - What Is It?

Kucoin Blog Kucoin Blog 05.08.2022 12:57
Table of Contents: · What is Wombat? · How does Wombat work? · Who created Wombat? · What is WOMBAT used for? · What makes Wombat unique? · Closing thoughts The gaming industry is rapidly growing, with analysts projecting that the industry will generate $196 billion in revenue this year, up from $178.2 billion last year. As of September 2021, analysts estimated that there were roughly 3.24 billion gamers globally, up from 2.69 billion the previous year.   Interestingly, the trading volume of in-game items surpassed $60 billion in 2021. However, most games in the market are run in closed environments and are under the control of a handful of game publishers and developers. This centralization means only a few entities benefit from selling in-game items.   In closed environments, gamers do not actually own the in-game items despite purchasing them. Additionally, the current games do not compensate gamers for the time spent gaming. The blockchain addresses these challenges by enabling game developers to integrate a play-to-earn (P2E) model.   In a P2E model, non-fungible tokens (NFTs) represent in-game items. Gamers can sell the NFTs and get real-life value whenever they need to upgrade to better tools or when they stop playing the game. Additionally, P2E games reward gamers just for playing.   Although the P2E gaming model is more beneficial for gamers, it faces challenges that inhibit its mainstream adoption. Among these shortcomings include complex onboarding processes, unintuitive interfaces, poor marketplace and trading infrastructure for NFTs, and security issues, to mention a few.   Hoping to address these issues, Wombat launched as a fully-equipped Web3 gaming platform. The Wombat platform features a wallet, NFT gallery, NFT marketplace, game rewards, dApp explorer, token swaps, and Fiat on/off-ramps. For more information about Wombat (WOMBAT), watch the video on KuCoin YouTube channel: https://youtu.be/RRL5DHzbwHk.   What is Wombat? Wombat is an open Web3 gaming platform that launched in June 2019. The project aims to make it easy for traditional gamers to onboard the Web3 gaming space. Wombat strives to become the top social gaming platform, and its efforts have seen it amass over 2.6 million users thus far.   The Wombat platform combines the best traits of Web2 and Web3 by integrating NFTs into AA and AAA titles from leading game publishers. At the moment, Wombat features over 40 games from 20 publishers. The top games on the platform include Dice Dreams, Vikings, World of Tanks, Mech Arena, and Raid: Shadow of Legends.   Gamers on Wombat can discover new games with crypto or NFT monetary mechanisms. They can also store, manage, transfer, and interact with NFTs and cryptocurrencies. Additionally, gamers can share their game progress and NFTs with their gamer friends or communities.   On top of this, Wombat allows gamers to trade, lend, borrow, stack, or swap their crypto and NFTs for fiats on top exchanges or third-party marketplaces.   How Does Wombat Work? The Wombat platform supports nine blockchain networks. These are Ethereum, Polygon, BNB Chain, Avalanche, Fantom, Heco, WAX, EOS, and Telos. To improve the user experience, Wombat covers transaction costs on networks like EOS, WAX, and Telos. Additionally, the platform enables free account creation and automatic, user-driven backup of private keys.   For gamers that want better benefits from the word go, Wombat features a monthly subscription model dubbed Wombat Prime. Wombat Prime enables subscribers to sign 10x as many transactions daily on EOS, WAX, and Telos.   The Wombat app, available on Android, iOS, and Chrome platforms, is at the core of the Wombat ecosystem. Within the app is a dApp explorer, which allows users to interact with dApps that run on any of the above blockchain networks. Also, the app has an NFT Gallery for viewing and completing NFT functions.   Another crucial feature of the Wombat app is the Womplay Game Rewards system, which allows gamers to earn crypto and NFT rewards for playing games. Notably, this system rewards Wombat gamers for playing traditional and Web3 games.   The platform also features Wombat Dungeon Master, a minigame in which participants can use NFTs that Wombat or Womplay have issued to get extra rewards. Gamers need to lock the digital collectibles within the game to unlock rewards.   Who Created Wombat? Wombat is the creation of blockchain gaming company Spielworks. The company’s co-founders are Adrian Krion and Swen Hallasch. Krion currently serves as Spielworks’ CEO, while Hallasch is the company’s CFO. Moritz do Rio Schulze is the firm’s CTO, and Alexander Heckel is Spielworks’ COO.   What is WOMBAT Used For? WOMBAT is the native token of the Wombat protocol. The token functions on multiple chains, increasing its utility and that of Wombat. Spielworks initially minted WOMBAT on Ethereum with a supply cap of 10 billion tokens. However, the firm intends to use bridges like Polygon to enable swift, cheap WOMBAT transactions.   WOMBAT’s primary use is supporting payments within the app. Additionally, the Wombat platform rewards gamers who participate in community activities with WOMBAT. The token is also elemental in VIP staking. Stakers get VIP benefits like earnings boosts, exclusive access to features and NFTs, better chances in NFT drops, discounts, and more.   WOMBAT holders can also vote on some parameters for Wombat’s upcoming NFT marketplace. Additionally, the token holders can vote on some development decisions within the Wombat ecosystem.   What Makes Wombat Unique? Most Web3 gaming platforms leverage wallets like Metamask, which are unsuitable for gaming. However, Wombat stands out by offering users a non-custodial wallet.   This wallet stores a user’s private keys on their device. Alternatively, users can retrieve the private keys and store them somewhere else. Wombat App backs up the details to a user’s Dropbox or GDrive accounts to ensure security.   Closing Thoughts Wombat’s decision to integrate a wallet, dApp browser and NFT marketplace into one app simplifies the onboarding and user experience for traditional gamers looking to embrace Web3 gaming. Also, teaming up with leading Web2 game publishers and studios positions Wombat for success.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe YouTube Channel>>> Source: What is Wombat (WOMBAT) and How Does it Work? | KuCoin Crypto Gem Observer| KuCoin
Kucoin: Wrapped Tokens (i.a. WBTC, WETH) Explained

Kucoin: Wrapped Tokens (i.a. WBTC, WETH) Explained

Kucoin Blog Kucoin Blog 05.08.2022 14:02
Table of Contents: What is a wrapped token? How do wrapped tokens work? Examples of wrapped tokens Wrapped tokens on Ethereum Benefits of using wrapped tokens Deposit, Withdraw & Trade Wrapped Tokens Closing thoughts Decentralized finance (DeFi) is rapidly disrupting the financial sector by offering trustless banking. However, it also faces multiple challenges that hinder its mass adoption. At the moment, one of the most significant obstacles is insufficient liquidity.   For instance, Bitcoin (BTC) has the largest market cap in the crypto market - (around $420 billion). However, its blockchain does not support smart contracts and hence does not support DeFi. On the other hand, the Ethereum blockchain supports the highest number of DeFi protocols. Nonetheless, the market cap of its native token, ETH, currently sits at $186 billion.   With DeFi relying on users to provide liquidity, it is imperative to have cross-chain interoperability, a necessity that has proven a tough nut to crack.   Thus far, efforts to make blockchain networks interoperable have seen developers create wrapped tokens. These tokens can function on different blockchain networks, introducing some aspect of cross-chain interoperability.   What is a Wrapped Token? A wrapped token is a cryptocurrency pegged to another cryptocurrency in a 1:1 ratio. Simply put, the price of the wrapped token always equals that of the underlying coin. To this end, wrapped token holders can redeem them for the original asset at any given time.   The wrapped token and the original token run on different blockchains, with the prior running on blockchains that support DeFi. This feature ensures that wrapped tokens create a bridge between incompatible blockchain networks. Consequently, this interoperability helps introduce more liquidity to DeFi protocols, boosting the utility of cryptocurrencies.   How Do Wrapped Tokens Work? To get wrapped tokens, users can create them by wrapping them on their own or purchasing them from centralized or decentralized crypto exchanges.   Wrapping tokens involves finding merchants for a specific token and transferring the tokens to them. The merchants then transfer the digital assets to a custodian who mints their wrapped versions in a 1:1 ratio and stores the underlying tokens in a digital vault.   After putting their wrapped tokens to use, a user can redeem them by requesting the merchant to send the custodian a burning request for a given amount of the tokens. Finally, the custodian destroys the wrapped tokens and returns the original assets to the user.   The custodian records all minting and burning transactions on-chain for transparency, ensuring that wrapped tokens always maintain their 1:1 peg to the underlying asset.   Examples of Wrapped Tokens The need to bridge the Bitcoin and Ethereum networks saw developers team up to create wrapped Bitcoin (wBTC), an ERC-20 version of BTC. wBTC is the most popular wrapped token and is currently the 18th-largest cryptocurrency by capitalization, with a market cap of over $5 billion. Needless to say, wBTC is the largest wrapped token.   The second largest wrapped token is renBTC, an ERC-20 token, which is part of the Ren Protocol. renBTC has a market cap of over $80 million. renBTC serves the same purpose as wBTC.   Wrapped NXM (wNXM) is the third-largest wrapped token by market capitalization. The token allows users to trade NXM, the native token of the Nexus Mutual platform, outside the protocol.   There are over 20 wrapped tokens in the crypto market, and they have a market cap of $5.31 billion.   Wrapped Tokens on Ethereum An interesting example of a wrapped token on Ethereum is wrapped Ethereum (wETH). Although creating a wrapped version of ETH seems to defy logic, it is worth noting ETH arrived before the network introduced the ERC-20 standard for issuing tokens. As such, ETH is not ERC-20 compliant.   To this end, developers created wrapped Ethereum (wETH) to simplify using ETH in DeFi. With the bulk of DeFi activity being on Ethereum, most dApps require users to swap ETH with ERC-20 tokens, and wETH streamlines this process.   Other wrapped tokens on Ethereum include wBTC, wNXM, wDGLD, and wCRO, among other ERC-20-compliant tokens that run on blockchains other than Ethereum.   Benefits of Using Wrapped Tokens Wrapped tokens increase the utility of cryptocurrencies by expanding the number of blockchains they can run on. As utility increases, the value of crypto networks rises, helping to expedite the maturity of the nascent asset class.   Through wrapped tokens, crypto holders can put their digital assets to use by lending them out through DeFi protocols to earn interest. Crypto holders can also stake the tokens and provide the DeFi sector with liquidity. In return, DeFi protocols offer stakers high yields.   Wrapped tokens also help minimize the transaction costs and times. For instance, using a wrapped version of BTC on a scalable blockchain network would significantly cut costs and ensure faster transaction times.   How to Deposit, Withdraw & Trade Wrapped Tokens Deposit and withdrawal functions are available from exchanges that support the wrapped tokens. For instance, KuCoin supports some wrapped tokens deposit and withdrawal, such as WBTC.   ​​In general, a wrapped token may not have a separate trading pair. For the purpose of consolidating liquidity, centralized exchanges will credit tokens based on different blockchains as its native token, similar to USDT on Tron and Ethereum are both credited as USDT. However, there are exceptions like WBTC, which has separate trading pairs like WBTC/BTC.   Closing Thoughts Wrapped tokens play a significant role in creating bridges between various blockchains. Furthermore, this interoperability helps provide DeFi and the broader crypto space with ample liquidity because networks can easily share the amount of capital locked in them.   Although wrapped tokens currently run on the centralized models, which require users to trust merchants and custodians, the future might present completely trustless options, helping the crypto space put the power back in users’ hands.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What Are Wrapped Tokens and How Do They Work?| KuCoin
KuCoin: Crypto - FUD (Fear, Uncertainty, Doubt) - What Is It?

KuCoin: Crypto - FUD (Fear, Uncertainty, Doubt) - What Is It?

Kucoin Blog Kucoin Blog 05.08.2022 14:54
Table of Contents: · Foreword - KuCoin Anti-FUD Fund · What Does FUD Mean? · What is The Impact of FUD on the Crypto Industry? · What are The General Motivations for FUDers? · How are Those Crypto Investors and Followers Affected by Crypto FUD? · Don’t Let Crypto FUD Make Decisions for You! · Closing Thoughts   Foreword - KuCoin Anti-Fud Fund The cryptocurrency market is a volatile space often likened to the wild west. For every step forward, it seems like there are two steps back, partly due to the constant stream of news and information (or misinformation) that can circulate on social media and other channels. On top of that, it is difficult for the average person to keep track of the various developments and projects in space.   FUDs mislead investors and harm the industry’s image and market confidence. To clean up the crypto industry environment and build a crypto space with less FUD, KuCoin is extremely proud that we are at the forefront of the industry once again to launch an Anti-FUD Fund at the end of July. Its major focus is implementing Anti-FUD education online and offline, rewarding industry leaders & influencers who are bold to fight against FUD, tracing FUDers who spread FUD on purpose and take legal actions if needed, etc.   So starting this August, we sincerely invite you to be involved in our Anti-FUD Fund practice to learn anti-FUD knowledge from our series of blog articles so as to explore the crypto industry in a better way as a professional crypto investor and buidler!   In every instance, there is always a new fear or reason to be worried or a new crypto project that will change everything. It can be hard to sift through all the noise and figure out what is important and what is not. This is why it is important to understand from our very first blog of Everything You Need to Know About FUD In Crypto from the Anti-Fud Fund educational series to know what FUD is and how it plays a role in understanding the cryptocurrency market.   What does FUD mean? FUD stands for Fear, Uncertainty, and Doubt. It is one of the most common terms you will hear in the crypto space and is often used in the financial world, and it applies to any situation where there is a lack of clarity or understanding.   In the context of cryptocurrencies, FUD refers to negative news or sentiment that can spread like wildfire and cause a sudden drop in prices due to several reasons, such as new regulations, hacking scandals, or even a rumor. FUD can also come from more general news events such as a stock market crash, which can indirectly impact cryptocurrencies.   FUD is often used as a way to manipulate prices. For example, a person or group with a large amount of a certain cryptocurrency may spread FUD to drive the price down so they can buy more at a lower cost, known as "FUDding" the market.   While it may seem counterintuitive, you should not necessarily avoid all news or information because it is negative. After all, part of being a responsible investor is doing your due diligence and research. Still, it is important; however, knowing how FUD can impact the market and your decision-making process.   What is The Impact of FUD on the Crypto Industry? The impact of FUD can be widespread and long-lasting. Once the seed of doubt is planted, it cannot be easy to shake off. This is especially true in the crypto space, where there is a lot of speculation and fear-mongering.   FUD can have a very real impact on prices. Sometimes, it can cause a domino effect where one event leads to another, and prices plummet. This can be due to a loss of confidence in the market or a sudden influx of selling pressure. Sometimes it can affect an exchange, such as when rumors about the exchange getting hacked spread.   In other cases, FUD can be short-lived, and prices may recover quickly, often when the initial fear is overblown or unfounded. However, it is important to remember that the market is always subject to sudden and drastic changes, so it is important to be prepared for anything.   What are The General Motivations for FUDers? There are a few different motivations for why someone would want to spread FUD. In some cases, it may be because they have a vested interest in the market and stand to gain from a price drop.   In other cases, it may be because they simply do not believe in cryptocurrencies or the technology backing. Unfortunately, this is often the case with traditional financial institutions or media outlets, which may quickly write off crypto as a scam or a bubble.   Then some may just enjoy causing chaos and gaining more attention. Whatever the motivation, it is important to be aware of how FUD can impact the market.   How are Crypto Investors and Followers Affected by Crypto FUD? Crypto investors and followers can be affected by FUD in several ways. The most obvious is the impact on prices. A sudden price drop can lead to losses, especially if unprepared for it.   FUD can also cause anxiety and uncertainty, leading to bad decision-making and impulsive sell-offs. However, it is important to remember that the market is always changing, and there will always be ups and downs. The key is to stay calm and rational when making investment decisions.   Finally, FUD can lead to a loss of market confidence and cause people to give up on their investments or avoid the space altogether. While it is important to be aware of the risks, it is also important to remember that there are still opportunities in the crypto space.   Don’t Let Crypto FUD Make Decisions for You! The most important thing to remember is that you should not let FUD make decisions for you. It is important to do your research and due diligence before investing in anything, which includes being aware of the potential risks and rewards.   Having a solid plan and strategy in place is also important, which will help you stay calm and rational when the market is volatile. Remember, the key to successful investing is to stay disciplined and patient.   Finally, remember that you are in control of your destiny. No one knows what the future holds, and risk is always involved. However, if you believe in cryptocurrencies and the technology backing, then you should not let FUD dissuade you from investing.   Closing Thoughts FUD is a common occurrence in the crypto world. It can be caused by a variety of things and can significantly impact many aspects of this industry. However, it is important to remember that you should not let FUD make investment decisions for you or mislead your vision for any other aspect of the industry. Instead, ensure to do your own research and stay disciplined with your investing.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: Anti-FUD 101: Everything You Need to Know About FUD In Crypto| KuCoin
Shiba Inu (SHIB) Creates Double Bottom Pattern After Bounce From May Lows | BeInCrypto

Meme Coins: Shiba Inu Price: What Do We Learn From The Technical Picture Of SHIB?

FXStreet News FXStreet News 05.08.2022 16:25
Shiba Inu price could flare up to $0.00001679 if the 200-day SMA hurdle crumbles. A stubborn inverse head-and-shoulders neckline resistance may be the only bump between SHIB and a 39% move. The IOMAP metric reinforces the upside target at $0.00001700, where some investors could empty their bags. Shiba Inu price is on the frontline of ushering in the weekend with a daily bullish candle alongside other crypto assets such as Solana, Binance Coin and Polkadot. SHIB’s trading over the last few days has been somewhat sideways. Conversely, a bullish breakout may be in the offing, especially if the token makes a daily close above $0.00001220. Shiba Inu price’s 39% move depends on the inverse head-and-shoulders pattern Shiba Inu price formed an inverse head-and-shoulders (H&) pattern between May and August, as seen in the chart below. Crucial support at $0.00000740 allowed buyers to regain control against the backdrop of dire losses in May. This buyer congestion zone positively influenced SHIB but only up to $0.00001220. Since the H&S pattern is highly bullish, Shiba Inu price has a good chance of sprinting to $0.00001679 – if it can make a clean break above the neckline. For now, buyers must subdue the overhead selling pressure brought to light by the 200-day Simple Moving Average (SMA) on the 12-hour chart. The Moving Average Convergence Divergence (MACD) in the same timeframe would be required to hold above the mean line as well as keep the buy signal intact, affirming a solid bullish grip. SHIB/USD 12-hour chart On the flip side, the 50-day SMA provides immediate support slightly above an ascending trendline. Therefore, in the event of a bearish reversal, Shiba Inu price may recoil at a higher low, as long as the trend line is not broken. From a fundamental perspective, Shiba Inu may exhaust the uptrend in the region between $0.00001400 and $0.00002100. IntoTheBlock’s IOMAP on-chain metric reveals that around 101,000 addresses previously purchased approximately 445.9 trillion SHIB tokens in the range. Shiba Inu IOMAP chart Traders preparing to make the most out of Shiba Inu price breakout to $0.00001679 should consider taking profit at $0.00001400, with the bullish holding out till $0.00001700. These targets factor in overhead pressure as investors sell at their respective breakeven price points.
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

TSLA Sold Bitcoins | Crypto: Theory - What Did Elon Musk (Tesla) Use Crypto For?

InstaForex Analysis InstaForex Analysis 07.08.2022 18:28
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   On the 4-hour TF, the current picture of bitcoin is also very eloquent and does not raise any questions. There is a clear ascending channel, which has been maintained for several weeks. The cryptocurrency does not even try to leave it and moves strictly inside it. This channel has a rather weak inclination angle and does not imply a strong bitcoin growth. If we try to give the clearest possible definition of the direction of this channel, then the word "lateral" rather than "ascending" will come to mind. However, this channel performs two important functions at once. First, it signals that the correction has not yet been completed. The second is that fixing below will likely signal a new round of the "bearish" trend in bitcoin. Well, until this consolidation has happened, traders must decide whether they want to trade bitcoin with minimal volatility. Recently, Tesla sold off bitcoin coins, and Elon Musk tried to make a good face at a bad game. At first, Elon Musk was considered almost the "godfather" of cryptocurrencies and he expected his companies to integrate crypto assets deeply into their activities. Then later, the more time passed, the clearer it became that Musk used his opportunities to earn. He used cryptocurrencies to make his company, Tesla, sell more electric cars. Many experts wonder why Tesla bought $ 1.5 billion worth of bitcoins. Why did it announce the possibility of a bitcoin payment on March 24 last year if it canceled its decision after a couple of months and sold almost all bitcoins a year later? If you think logically, it turns out that Tesla and Musk made some bets on "digital gold," but it doesn't seem to have worked. Some experts believe that, in this way, Musk was trying to conquer the Chinese market, which was very actively interested in digital assets at that time. Who knew that in the near future the Chinese authorities would completely ban mining and the use of bitcoin on their territory? Remarkably, Musk has never openly stated that he no longer believes in bitcoin or that he needs it for specific purposes. Tesla refused to accept payment in "bitcoins" "because of its low environmental friendliness," but at the same time, Musk continues to use Dogecoin, which is no more environmentally friendly than bitcoin. When selling 75% of the bitcoin coins, Musk said that Tesla needed additional liquidity due to various restrictions in China amid a new coronavirus pandemic. However, if bitcoin is a promising tool, why sell it? Would a company like Tesla, with an owner who is the richest man in the world, not be able to find about $ 1 billion?     In the 4-hour timeframe, the quotes of "bitcoin" continue a weak upward correction. We believe that the fall will resume, but now we need to wait for the consolidation below the ascending channel. The first target for sales will be the level of $ 17,582, which is the last local minimum. Next, the common goal for the two timeframes is $12,426.   Read more: https://www.instaforex.eu/forex_analysis/318230
NZD/USD: Reserve Bank Of New Zealand Is Expected To Hike The Rate By 50bp

Shocking Bitcoin Price Forecast! BTC/USD To Decrease To $16K Level Before Reaching $32K!?

Alex Kuptsikevich Alex Kuptsikevich 08.08.2022 09:35
Market picture Bitcoin has been down 1.2% over the past seven days, trading at $23,600. These are tiny moves by crypto market standards. Indeed, the first cryptocurrency has been dealing with little amplitude over the past week. ETH/USD Ethereum has added the same amount of 2.6% to $1720 in the last 24 hours and seven days. The top altcoins' 7-days performance ranges from -0.11% (Solana) to +19% (Avalanche). The total capitalisation of the crypto market, according to CoinMarketCap, rose 2.5% for the week to $1.1 trillion. The Bitcoin Dominance Index slipped 0.6 percentage points to 40.4% over the same period. The Cryptocurrency Fear and Greed Index fell 3 points for the week to 30 and remains in a state of "fear". Last week Bitcoin made its fourth reversal from decline to rise within a moderately rising range. Investors were probably inspired by the positive dynamics of the stock markets amid recovering risk demand there. Buying forces reversed the trend even before the price reached the lower boundary of the corridor and the 50-day average. The 200-week moving average, in this case, acted as a support line, which we see as a confirmation that the downtrend in cryptocurrencies is over. However, it is worth remembering that a rally rarely follows this. Typically, the market goes through a long period of uncertain and vulnerable growth. Only global events like halving or extreme liquidity injections from central banks or governments into the financial system can kick-start a rally. Background That said, Americans are investing in cryptocurrencies despite the market downturn. According to The Balance's financial website, 39% of US investors have become more invested in cryptocurrencies. American investor and Shark Tank star Kevin O'Leary said he had bought high market capitalisation cryptocurrencies such as Bitcoin and Ethereum despite the slump in his investment portfolio. Bitcoin According to a Cumberland survey of institutional investors, most respondents expect bitcoin to rise to $32K as soon as this year. Before that, however, BTC could fall to $16K. Tesla CEO Elon Musk again spoke out in support of Dogecoin. According to him, the "dogecoin" cryptocurrency network can handle significantly more transactions than the bitcoin network. CME Group, one of the world's leading derivatives players, will launch BTC and ETH futures in euros.
What Could Boost ETH/USD!? Ethereum - The Merge Is Close! US: Shocking Unemployment Rate. In The Past Month S&P 500 And Nasdaq Increased

What Could Boost ETH/USD!? Ethereum - The Merge Is Close! US: Shocking Unemployment Rate. In The Past Month S&P 500 And Nasdaq Increased

Swissquote Bank Swissquote Bank 08.08.2022 10:29
Strong US jobs data revived the Federal Reserve (Fed) hawks on Friday. The US 10-year yield jumped, and the US dollar gained. Gold gave back a part of gains, and US stocks closed in the negative, although the three major US indices closed the first week of August in the positive. S&P 500   Now, the S&P500 is nearing an important technical level near 4180 level, the peak reached in June, and the short-term direction will mostly depend on this week’s inflation data, due Wednesday. Crude oil kicks off the week slightly upbeat, below the $90 level. News that China started mass testing in the Hainan beach resort comes as a warning that China is still not done with its fight against Covid.    Crude Oil Last week, OPEC increased the production outlook by a laughable, and a completely meaningless 100’000 barrels per day. That’s about 0.1% of the global oil output. But the recession fears and the slowing demand will likely continue driving the market; we could see a further downside pressure on oil prices. On corporate front, Coinbase, Disney, Honda, Coupang, and Rivian will be revealing their latest quarterly earnings. On political front, the US Senate passed a landmark tax, climate and health-care bill, which includes tax credits for EV purchases & green energy incentives. In cryptocurrencies, Ethereum prepares for its final test before the Merge update! Watch the full episode to find out more! 0:00 Intro 0:27 Confusingly strong NFP data 3:23 Why the markets rallied in July? 4:54 Inflation is key for direction 5:55 Crude oil under pressure 7:01 Earnings calendar 7:20 US Senate passes bill to support EV & green energy 8:33 Ethereum’s final test before Merge update Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #Fed #hawks #USD #XAU #Gold #inflation #data #crude #oil #Coinbase #Honda #Coupang #Rivian #earnings #US #climate #bill #Tesla #green #energy #Ethereum #Merge #test #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin Is Showing The Potential For The Further Downside Rotation

Crypto: Could CPI Show (1 BTC) Bitcoin Price The Way!? Cryptocurrency Fear And Greed Index Amounts To 30!

InstaForex Analysis InstaForex Analysis 08.08.2022 10:56
Relevance up to 09:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin continues to convince the market of the full start of the recovery season and closes another trading week on a bullish note above $23k. In total, over the past eigth weeks, the cryptocurrency has managed to close weekly trades with a green candle five times. The dynamics is evident and consist in a gradual reversal of the trend. In addition to the upward price movement, this is also seen by the main metrics that reflect investor sentiment.  Follow us on Feedly   The Fear and Greed Index, which has been below 10 for a record amount of time, made an upward spurt and reached the level of 30. Considering the situation in which the market found itself in June, this is a significant breakthrough, indicating a growing interest in Bitcoin.     This is confirmed by the number of unique addresses in the cryptocurrency network, which reached the million mark last week. Over the weekend, the figure expectedly dipped to 600,000, but given that a month ago, this number of addresses was the peak, the figure is at a high level.     At the same time, there is a continued trend to reduce the volume of Bitcoin daily trading. Over the weekend, the metric dropped to $17 billion, which is low even with the weekend. This is an unhealthy trend that indicates an increase in the activity of addresses that cannot provide a high level of trading activity. As a result, we are seeing a significant increase in the volume of unique addresses and a downward trend in BTC trading. Such a divergence could mean problems at the bottom of the upward trend formed on the Bitcoin chart.     On the daily chart of the cryptocurrency, we see that BTC again briefly became a stablecoin, which is moving around the $23k level. The asset continues to maintain the structure of the upward trend from June 19, which suggests the formation of a local bottom at $17k. It is also important to note that the cryptocurrency exited the $19k–$22k fluctuation range and successfully consolidated above $22.6k, where the key support zone of the new range of $22.6k–$24k lies. And despite the successful consolidation of the asset above $23k, Bitcoin does not show prospects for an upward trend.     On the daily chart of the cryptocurrency, the prerequisites for an upward movement are visible. The RSI index continues its upward movement to the level of 60, which is a positive signal indicating the growth of active buyers. The stochastic oscillator has also formed a bullish crossover and continues to move above the 60 mark. However, it is important to take into account the gradual recovery in trading activity after the weekend and not to pay too much attention to the current upside signals on the charts. As was noted, trading volumes continue to decline and reach local lows. In such a situation, it is not worth hoping for an upward movement, but it is quite possible to restore trading activity on the eve of the working week. August 10 will also be an important factor that slows down the formation of upward impulses. On the said day, the US will announce the results of the July Consumer Price Index (CPI). Forecasts assume that the CPI will be at the level of 8.7%. Accordingly, we can assume that this figure is already considered in the current price of BTC. The cryptocurrency will move depending on the results of the CPI report. If it is higher than expected, a retest or a breakdown of the $22.6k level is quite likely. If the indicator turns out to be lower than expected, we can expect an increase in trading activity and another attempt to break through $24k.   Read more: https://www.instaforex.eu/forex_analysis/318294
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Let's Find Out What's Going On With CME BTC Futures! Striking News About Solana (SOL). The Network Was Hacked!

Crypto.com Accelerate the... Crypto.com Accelerate the... 08.08.2022 11:23
CME Bitcoin futures net-short positions reducing. ETH put-call ratio makes a new low. ETH close to short-term RSI overbought. Chart of the Week: Shorts Out of Fashion Longs are gaining the upper hand with asset managers’ net-long position in CME Bitcoin futures trending upwards and fast approaching the highest level YTD. Leveraged traders appear to also be on the same wavelength, as their net-short position has been reducing since mid-May and is currently at the lowest level YTD.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Fund Flow Tracker Aggregated exchange balance for BTC made a new 1-year low, while ETH’s was stable over the past week.         Derivatives Pulse 1-week implied vols dropped during the past week, while other expiries were generally stable. Skews (puts minus calls) continued to fall for BTC but rebounded for ETH over the past week. 1-week implied vol currently stands at 63.1% (vs. 68.4% a week ago) and 91.9% (vs. 115.6% a week ago) for BTC and ETH, respectively. The put-call ratio for ETH extended its downtrend and is at the lowest level during the past 1-year.                     Perpetual futures funding rates remain in positive territory for both BTC and ETH over the past week.         Technically Speaking ETH’s recent strong rally has pushed it closer to short-term overbought levels based on the 14-day Relative Strength Indicator (RSI).     Price Movements         News Highlights Crypto startups raised U.S.$30.3B in 1H 2022, more than the total raised in all of 2021. Chicago Mercantile Exchange (CME) will launch Euro-denominated Bitcoin and Ethereum futures on 29 August, pending regulatory approval. The Solana network was exploited, with funds drained from around 8K wallets, and estimated loss of U.S.$8M. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE Source: Market Pulse (Week 31, 01/08/2022 – 08/08/2022) (crypto.com)
EM Index Inclusions and Exclusions: India Thrives, Egypt Faces Challenges

Bitcoin (BTC/USD) Seems To Have Recovered. The US Labour Market Data Could Be Treated As A Denial Of Recession

Craig Erlam Craig Erlam 08.08.2022 12:05
A relatively slow start to the week as investors continue to digest Friday’s jobs report and what it means for financial markets just as some optimism was returning. The report itself was strong almost across the board, with participation being the only outlier, but Fed officials will not have been quite so enthused which makes it a tough one for investors to get too excited about. On the one hand, it strengthens the argument that the economy is not really experiencing a recession as the labour market is simply too strong. On the other, it’s also extremely tight and wages are continuing to rise at a fast rate which will make the task of fighting inflation that much harder. With another 75 basis point rate hike next month now the favoured outcome, although a lot can change in that time, it could be a nervy couple of days for investors ahead of Wednesday’s inflation report. It turns out the shift to data-dependency isn’t all it was cracked up to be. Another record Chinese trade surplus but also more lockdowns It’s a relatively quiet day, and the economic calendar continues to look very thin. How traders continue to respond to Friday’s report will be key in how we start the week. Asia is off to a mildly positive start but it’s nothing to write home about. Cities on the Chinese resort island of Hainan have been placed in lockdown following another Covid outbreak, reminding investors once more of the country’s commitment to its zero-Covid policy at all costs. At the same time, Hong Kong has sought to appease residents and the business community by cutting quarantine periods from seven days to three. While still very restrictive compared to much of the world at this point, it was a bolder move than anticipated and highlighted the pressure to return to normal life. Chinese trade data highlighted the struggles of the domestic economy, with imports rising 2.3% annually last month while exports remained surprisingly strong up 18%, delivering another record trade surplus. The numbers aren’t expected to remain quite so favourable in the months ahead as reopening momentum fades, leaving the import numbers a concern. A swift recovery Sentiment across the markets looks a little fragile this morning and yet crypto appears to have shrugged off Friday’s shock much more quickly. Up more than 3% this morning and climbing once more with its sights set on USD 25,000 it seems. The momentum indicators will be fascinating here as the recovery appeared to be losing steam during the last ascent in late July. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Cautious post-jobs report - MarketPulseMarketPulse
For What It Is Worthy To Pay Attention Next Week 23.01-29.01

Binance Academy: Optimistic Oralce UMA Explained - What Is It? How Does It Work?

Binance Academy Binance Academy 08.08.2022 12:11
TL;DR UMA is an optimistic oracle (OO) designed to record any knowable truth onto a blockchain.  Oracles are entities that connect blockchains to the outside world. An optimistic oracle is a type of oracle that feeds real-world data into a decentralized system; this data is assumed to be accurate if there are no disputes around it. The optimistic oracle, called a “human-powered truth machine,” aims to introduce flexibility and unlock Web3’s limitless potential with the objective of making global markets universally fair, accessible, secure and decentralized.   Introduction UMA was co-founded in 2017 by Hart Lambur. In December 2018, the UMA project white paper was unveiled, and shortly after, the developers announced an official launch of the UMA project and introduced the USStocks token as the first product on the core network. UMA held an initial liquidity offering in April 2021, the first-ever initial offering of a decentralized exchange on Uniswap.  UMA, which stands for Universal Market Access, is an optimistic oracle that secures markets and smart contracts across Web3. Due to imperfect or inaccurate information, off-chain data needed to meet conditions for smart contracts may be insufficient or incorrect. Current oracles are too rigid as they feed singular values and are unable to account for other forms of data. To accomodate imperfect information, OOs incentivize people to verify the accuracy of data, facilitating advanced data verification with a human element.     How does UMA work? There are three actors in UMA’s Optimistic Oracle system: the contract requesting the data, the participant offering the data, and a potential disputant, who can dispute data if they disagree. Request UMA’s OO incentivizes its network of token holders to ensure that accurate data is supplied on-chain. The OO can provide any data through its community of token holders, adding a human element to its data verification process.  Propose Typically, the contract asks for data and specifies a dispute period (which can range from a few minutes to a few days). The proposer posts a bond and offers a data point, which is up to being disputed. After the dispute period has passed, the data is assumed to be true and is delivered to the blockchain, and the proposer gets their bond back. Within the dispute period, someone  may feel that the data is inaccurate and challenge it. Dispute Sometimes, there may show up a disputer who disagrees with the proposer’s data. The disputer posts a bond as well, and the dispute goes to a vote. UMA token holders resolve the dispute within 48 hours. If the disputer is right, they get a portion of the proposer's deposit as a reward; if the disputer is wrong, they lose their deposit as a penalty, a portion of which goes to the proposer. Voting in the oracle has three phases:  Open voting: A 24-hour period when the vote is recorded. Voting confirmation: A period when users’ votes are revealed and the results are tallied. Reward claim: A period where users who voted “correctly” can claim the reward in UMA tokens generated by the protocol. Rewards will compound as they are claimed. Claiming the rewards places the tokens in users’ wallets, making them active voting tokens that will increase the user’s voting power with each successful vote. UMA’s smart contracts are designed primarily for developers building decentralized applications. However, all UMA token owners can participate in UMA’s optimistic oracle. UMA is a ERC-20 token built on Ethereum that can be held in wallets like Metamask, Trezor, or Ledger, which must be connected to the UMA DApp to enable voting.   What makes UMA unique? UMA's OO provides human-powered data dispute resolution between smart contracts. Unlike standard price-feed oracles that are rigid and only provide singular, repeatable values onto a blockchain, OOs provide a way to reconcile imperfect or ambiguous data between smart contracts. OOs are more flexible than other oracles because they can provide any kind of knowable truth from off-chain, like a sports score, weather conditions or election results, which makes such systems’ potential for Web3 limitless.    What is the UMA token? UMA is an ERC-20 token and the foundation of the UMA security model. As mentioned, holders of the token can take part in community voting on disputed data. UMA holders earn rewards when they participate in voting. An inflationary reward equal to 0.05% of the current UMA supply is distributed to active voters each time the network goes to vote.  Token holders are also involved in governance, protocol upgrades, and system changes. The initial supply of the token was 100 million. In April of 2021, UMA hosted the first ever initial decentralized exchange offering on Uniswap, with an initial price of 0.26 USD. Of the remaining 98 million tokens, 48.5 million were reserved for the founders of the project, 35 million tokens were allocated to the developers of the network, and 14.5 million tokens were put aside for future sales.  In 2021, Risk Labs, the foundation that had initiated UMA, transferred 35 million tokens to the UMA DAO, allowing UMA token holders to vote on when and where to deploy these funds for the ecosystem’s growth.   What’s next for UMA? UMA’s business development team is focusing on two industry segments: prediction markets and insurance.  Currently, risk management platform Sherlock uses UMA’s oracle as a backstop for their insurance policy dispute system. Polymarket, an information markets platform, will soon be able to ask UMA’s OO questions that other oracles could not trustlessly handle.  UMA is also expecting to see considerable growth in DAO tooling for governance and incentives. Outcome.Finance, powered by UMA, is offering DAOs ways to run trustless incentive programs. Risk Labs is the team and foundation behind UMA, as well as its partner organizations, Across Protocol and Outcome.Finance. UMA and its OO are currently supporting the Across cross chain bridge.   How to buy UMA on Binance?   You can buy UMA on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “UMA” on the search bar to see the available trading pairs. We will use UMA/BUSD as an example. 3. Go to the [Spot] box and enter the amount of UMA you want to buy. In this example, we will use a Market order. Click [Buy UMA] to confirm your order, and the purchased UMA will be credited to your Spot Wallet.     Closing thoughts UMA’s Optimistic Oracle has secured hundreds of millions of dollars since its launch in 2018. As builders begin to understand and incorporate optimistic oracles, there may come a time when OOs are central to a variety of protocols, DAOs, integrations, and products.
Crypto: How To Estimate A Risk And Take A Profit?

Crypto: Binance Academy - Band Protocol (BAND) - What It Is? How Does It Work?

Binance Academy Binance Academy 08.08.2022 12:47
TL;DR Band Protocol (BAND) is a data oracle platform that provides services to multiple projects across different blockchains. It uses a Delegated Proof-of-Stake consensus mechanism where delegators, validators, and nodes stake the native token BAND to participate. Requests for off-chain information are gathered by validators, committed to the chain, and then distributed to the requesting DApps.   Introduction Blockchain and Decentralized Finance (DeFi) have changed the status quo of the world’s financial system within ten years. However, one significant obstacle Decentralized Application (DApp) developers face is accessing reliable, accurate real-world data. These data sources are located outside the blockchain and must be integrated on-chain. To try and solve this issue, oracles like Band Protocol have become commonplace in the crypto ecosystem.  Learn more on Binance.com What is Band Protocol? Band Protocol (BAND) is a cross-chain data oracle platform that aggregates real-world data and connects it to APIs and smart contracts. Founded in 2017, Band Protocol enables information exchange between on-chain and off-chain data sources for DApps. Originally built on the Ethereum (ETH) blockchain, the protocol transitioned to the Cosmos network in June 2020 to lower gas fees and optimize costs.  As an oracle network, Band Protocol is a middleman between real-world, off-chain data and blockchains. Their service allows smart contracts to execute based on actual off-chain events and information. Without reliable oracles, DApps struggle to operate in a trusted, decentralized manner with transparent information sources.   How does Band Protocol work? Band protocol uses the independent BandChain blockchain built using Cosmos SDK. Developers can use BandChain to develop customizable oracle scripts providing off-chain real data for DApps and smart contracts. Customizable oracle scripts include data, the data source, the number of validators required to report the data, and the methodology for aggregating the data. Executing an oracle script begins the following flow: 1. A DApp requests data according to its customized oracle script. 2. This request is received by a randomized set of validators, who respond by pulling data from the specified data source. 3. Data reports from the different validators are aggregated according to the customized oracle scripts. 4. This final aggregated data is permanently stored on BandChain, and an oracle data proof is produced. 5. The validated oracle data is transferred to the DApps or blockchains that made the request.   What consensus mechanism does Band Protocol use? Band Protocol uses its native BAND token and a Delegated Proof-of-Stake consensus mechanism to secure its oracle network. BandChain currently has over 90 professional and community node operators working on the blockchain. Each node operator must stake BAND tokens on the network to disincentivize malicious behavior. As a reward for successfully processing data requests, validators get a share of query fees and block rewards. As a BAND token holder, there are two ways to participate in the network: as a validator or a delegator. Validators on the BandChain are also required to stake BAND tokens to ensure data accountability. Token holders can either stake or delegate their tokens to validators to earn staking rewards and collected data request fees. Furthermore, BAND tokens are also used for the protocol’s governance mechanism.   What are Band Protocol’s key goals? Most of Band Protocol’s attractive qualities come from its transition from Ethereum to Cosmos. The project was created with three design goals: 1. Speed and scalability - Serving a large number of data requests with minimal latency. 2. Cross-chain compatibility - Being blockchain-agnostic and able to serve most publicly available blockchains. 3. Data flexibility - Supporting different methods of retrieving and aggregating data with a generic system. How does Band Protocol attempt to achieve these goals? The Cosmos network’s unique IBC (Inter-Blockchain Communication) protocol provides speedy interoperability and autonomy for blockchains. This feature allows Band Protocol to service and partner with projects built on different networks, including Ethereum, Fantom, Avalanche, and many more.  The Band Standard Dataset includes a collection of over 80 data feeds from a growing number of data sources. These decentralized price feeds allow DApp developers to be creative, agile, and flexible when developing and deploying on the blockchain network.   Closing thoughts Band Protocol is a growing oracle solution provider with a fixed focus on enabling Web3. Its aims of a fast, scalable, customizable and interoperable service should prove attractive to developers that are looking to become part of the Web3 ecosystem.
Nikkei, Taiex And Kospi Are Falling. Situation Of Markets In Asia Pacific

Crypto - Binance Academy: Comparing APY And APR - Differences Between Annual Percentage Yield And Annual Percentage Rate

Binance Academy Binance Academy 08.08.2022 13:07
TL;DR You have likely seen these two similar-sounding terms, APY and APR, when looking into decentralized finance (DeFi) products.  APY, or annual percentage yield, incorporates interest compounded quarterly, monthly, weekly, or daily, while APR, or annual percentage rate, doesn’t. This simple distinction can make a significant difference to the calculations for returns over a period of time. It is therefore important to understand how these two metrics are calculated and what it means for the returns that you can earn on your digital funds. Learn more on Binance.com     APR vs. APY   APR and APY are both fundamental for the purposes of personal finance. Let’s start with the simpler term, annual percentage rate (APR). It is the interest rate a lender earns on their money — and that a borrower pays for using it — over one year’s time. For example, if you put $10,000 into a bank savings account with a 20% APR, you will get $2,000 in interest after one year. Your interest is calculated by multiplying the principal amount ($10,000) and the APR (20%). So, after one year, you will have a total of $12,000. After two years, your capital will amount to $14,000. After three years, you will have $16,000, and so on. Before getting into annual percentage yield (APY), let’s first understand what compound interest is. Put simply, it means earning interest on the previous interest. In the example above, if the financial institution pays interest to your account monthly, your balance will look different during each of the twelve months of the year.  Instead of getting $12,000 at the end of the 12th month, you will receive some interest each month. That interest is added to the principal sum of your deposit, and the sum on which you earn interest goes up as the months go by. Each month, you will have more money earning interest. This effect is called compounding.  Let’s say that you put $10,000 into a bank account with a 20% APR, with the interest compounding monthly. Without getting into the complicated math, you will get $12,429 at the end of one year. That is $429 more in interest earned simply by adding the effect of compound interest. How much interest you’d earn with the exact 20% APR but with interest compounded daily? That would give you $12,452.  The power of compounding is more impressive over more extended periods. After three years, you would end up with $19,309 with the same 20% APR product with daily compounding. That’s $3,309 more interest earned than that same 20% APR product without compounding.  By simply incorporating compound interest, you’d earn a lot more on your money. Notice also that the interest differs according to the compounding frequency. You earn more when the compounding is more frequent. Daily compounding will give you more interest than monthly compounding.  How do you calculate how much you can earn when a financial product offers compound interest? That’s where annual percentage yield (APY) comes in. You can use a formula to convert an APR to APY depending on the frequency of compounding. A 20% APR with monthly compounding equals 21.94% in APY. With daily compounding, it would equal 22.13% APY. These APY numbers represent the annualized interest returns you earn after incorporating compound interest.  In sum, APR (annual percentage rate) is a simpler and more static metric: It’s always quoted as a fixed yearly rate. But APY (annual percentage yield) incorporates interest earned on interest, or compound interest. It changes according to the compounding frequency. One way to memorize the difference is to remember that “yield” has five letters (one more letter than “rate”) and also represents the more complex concept (and greater earnings).   How to compare different interest rates?   From the example above, you can see that more interest can be earned when interest is compounded. Different products may present their rates as either APR or APY. Because of this disparity, it’s essential to use the same term for comparison. Be mindful when you compare products,  as you may be comparing apples to oranges.  Products with a higher APY will not necessarily yield more interest than those with a lower APR. You can easily convert APR and APY using online tools if you know the frequency of compounding.  The same goes for DeFi and other kinds of crypto products. When looking at products that may advertise using crypto APY and APR, such as crypto savings and staking, make sure to convert them so that you can compare apples to apples.  Further, when comparing two DeFi products with APY, make sure that they have the same compounding periods. If they have the same APR, but one compounds monthly and the other daily, then the one that compounds daily may earn you more crypto interest. Another important point to note is what APY means in relation to the specific crypto product you are reviewing. Some product collaterals use the term “APY” to refer to the rewards that one can earn in cryptocurrency over the selected timeframe, and not the actual or predicted returns/yield in any fiat currency. This is an important distinction to appreciate because crypto asset prices can be volatile, and the value of your investment (in fiat terms) may go down or up. If the crypto asset prices fall drastically, the value of your investment (in fiat terms) may still be lower than the original fiat amount you had invested, even if you continue to earn an APY in crypto assets. It is therefore important that you review the relevant product terms and conditions carefully, and do your own research, to fully understand the investment risks involved and what APY means in that specific context.                 Closing thoughts APR and APY may seem confusing initially, but it’s easy to tell one from another by remembering that annual percentage yield (APY) is the more complex metric incorporating compound interest. Because of the effect of earning interest on interest, APY is always a higher number when interest is compounded more frequently than once a year. The bottom line is always to check which rate you are looking at when calculating the interest you’d earn.     Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Could ETH/USD Reach $2800!? Crypto Prices - What's The Difference Between Ethereum And Bitcoin?

InstaForex Analysis InstaForex Analysis 08.08.2022 13:13
Relevance up to 09:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum remains the main conductor of liquidity in the cryptocurrency market. Unlike Bitcoin, Ethereum has been showing a steady upward movement that has been going on for five weeks in a row. At the same time, it is important to note that over the past three weeks, a negative downward trend in buying activity has formed. This is displayed on the body of a bullish candle, which closed at parity between buyers and sellers between August 1 and 7. It is likely that after a period of a long upward movement, the asset will need a correction.     Unlike the situation with BTC, Ethereum's on-chain metrics point to a strong upward trend foundation. The number of unique addresses in the asset network continues to grow, and the fall over the weekend was not significant. This suggests that retail investors are actively participating in trading on the ETH network. This is partly due to the general hype around the coin, but to a greater extent, it is the merit of the fallen commissions in the cryptocurrency network.     The main difference between ETH on-chain metrics and BTC metrics is that the trading activity in the network of the main altcoin remains at a high level. The growing number of unique addresses in the cryptocurrency network is underpinned by a steady increase in intraday trading volumes. Therefore, the upward trend of the ether is more stable and justified. This is exactly what we see on the weekly timeframe, where the price has been continuously rising for five weeks.     Another important signal for the continuation of the upward movement of Ethereum is the completion of the "cup and handle" pattern. The asset managed to break through the $1700 level and thus complete the formation of the pattern. If the current market situation persists, the potential for the upward movement of Ethereum reaches the level of $2800. However, there is a possibility that before the pattern is realized, ETH/USD will go to a local correction.     If you look at the technical indicators of the cryptocurrency on the daily chart, you can see that dangerous borders are being reached. The RSI index ended the previous trading week above the level of 60 and continues its upward movement. The stochastic oscillator reached 80 in the previous week. As of August 8, the metric formed another bullish crossover above 80, which is a sign of overheating of the Ethereum market.     Given the readings of the main metrics, we can conclude that the asset has reached or is approaching the overbought state. This usually happens when the metrics are above 80. However, in the case of Ethereum, it is also important to consider the asset's significantly increased inflation rate due to the influx of users and low transaction fees.     Considering the options for a possible correction in ETH/USD, several targets need to be identified. The first target is located at the level of $1600, and taking into account the minimum amount of time that the asset spent here, this milestone will be broken. The next target is the range of $1400–$1450, and judging by the long period of consolidation, this is where the main stage of the correction will end.     However, it is important to take into account external factors, including the dynamics of the movement of BTC, stock indices, and macroeconomic events. Taking this into account, it is not possible to suggest a probable level of completion of the correction. But there is no doubt that the ether needs a pause to maintain the current trend.   Read more: https://www.instaforex.eu/forex_analysis/318304
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Crypto Always Steal The Show! Bitcoin (BTC) - Technical Indicators And Trading Plan

InstaForex Analysis InstaForex Analysis 08.08.2022 14:47
Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Bitcoin rose to $24,200 intraday on Monday before easing off. The crypto is seen to be trading close to $24,050 and expected to drag towards the $22,200-300 zone before resuming its rally. Bears seem inclined to complete the Up Gartley at around $22,200 before giving in to the bulls again. The bottom line is that prices should stay below the $24,500-600 interim resistance for now. Bitcoin has been producing a counter-trend rally from the $17,500 lows as seen on the daily chart. The counter-trend is expected to reach at least $29,400-500 before terminating, if not further. Please note that the potential remains for a push through the $48,000-500 zone as well, which is the Fibonacci 0.618 retracement of the drop between $69,000 and $17,500. Bitcoin is currently working on a lower-degree upswing between $20,700 and $24,450. The Fibonacci 0.618 retracement of the above swing is seen at around $22,200-300 which is seen as strong support. Prices are expected to drag lower from here and then resume a rally as depicted on the chart here. Potential upside targets are the $29,400-500 levels. Trading plan: Potential rally through $29,400-500 against $17,500 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/287687
Crypto: What Is Ledgerverse? A Revolution In The Education About Cryptocurrencies' Security!? Bitcoin Price - Technical Analysis - 26/08/22

Trying To Make Bitcoin (BTC) And Ethereum (ETH) Tokens As Safe As Possible. Crypto: Hardware Wallets - What Are They?

Kucoin Blog Kucoin Blog 08.08.2022 14:16
Meta Description: Hardware wallets provide the most secure way to store cryptocurrencies. Here’s how they work, and how to pick the one that suits you!   You have just recently bought your first crypto investment, but all you hear about are the hacks and exploits happening in space? Don't worry, we got you!   Our hardware wallet guide will teach you everything you need to know about how to keep your crypto secure. Let's get into it!   Crypto Security Matters! Since the creation of Bitcoin, and especially since the inception of DeFi, there have been a number of high-profile hacks and exploits that have taken place. Some of these have been due to poorly implemented security on exchanges or wallets, while others have been the result of malicious individuals or groups looking to take advantage of people in the space. Hardware wallets provide the most secure way to store #cryptocurrencies. 🛡️Here’s how they work, and how to pick the one that suits you! 🎯#ThinkBeforeYouInvest — KUCOIN (@kucoincom) August 8, 2022   In any case, it's important to take your security seriously when dealing with your investments, especially so when we are talking about cryptocurrency - after all, no investment will become profitable if it disappears!   You may have heard that the best way to secure your cryptocurrency is to own a hardware wallet, but you may not know all the ins and outs of it. Let's check out what a hardware wallet is, how it works, and explore all the other terms you might not be familiar with!   What is a Hardware Wallet Hardware wallets are physical devices that are designed to be a secure way to store your private keys. They're often considered to be the most secure type of wallet, as they're not connected to the internet and are therefore not susceptible to hacking.   They are considered the pinnacle of crypto safety and security, but suffer from a lack of flexibility due to them being offline.   How Does a Hardware Wallet Work? A hardware crypto wallet stores your private keys on a physical device, and signs transactions offline. This means that even if your computer is hacked, or you lose your hardware wallet, your crypto will still be safe.   In order to access your crypto, you need to connect your hardware wallet to a computer and enter your PIN. Once you've done this, you'll be able to view your balance and sign transactions.   Most hardware wallets also have a backup feature, so that if you lose your device, you can still access your crypto. This is usually done by writing down a seed phrase, which is a list of words that can be used to regenerate your private keys.   What is a Seed Phrase? A seed phrase, also sometimes called a mnemonic phrase, is a list of words that can be used to regenerate your private keys. This is useful if you lose your hardware wallet, as you'll be able to use the seed phrase to generate a new private key and access your funds.   It's important to note that you should never store your seed phrase online, as this would defeat the purpose of having a hardware wallet in the first place!   What is a Private Key? In order to access your cryptocurrency, you need a private key. A private key is a long string of characters that is unique to your wallet, and is used to sign transactions. If someone were to get hold of your private key, they would be able to access and spend your crypto.   Is Hardware Wallet a Cold Wallet or a Hot Wallet? There are two main types of wallets - hot and cold wallets. Hot wallets are connected to the internet and can therefore be accessed from anywhere. They're convenient for day-to-day use, but they're also more vulnerable to hacking.   Cold wallets are offline and not connected to the internet. This makes them much more secure, but also more difficult to use. Cold storage devices are often used for long-term storage of crypto, or for larger amounts that you don't need to access regularly.   Hardware wallets are cold wallets, as they're not connected to the internet. This means that they're much more secure than hot wallets, but also more difficult to use. When Should You Get a Hardware Wallet? The main benefit of a hardware wallet is that it's much more secure than a hot wallet. This is because it's not connected to the internet, and, therefore, can't be hacked.   Another benefit is that hardware wallets are usually easy to use, even for people who are new to cryptocurrency. They usually come with a user-friendly interface and clear instructions.   If you're serious about investing in cryptocurrency, then a hardware wallet is a good choice for you. They're also a good option if you're looking to store large amounts of crypto, or if you want to use your crypto for day-to-day purchases.   In essence, if the amount of crypto that you intend to hold justifies the price of the hardware wallet, you should buy it.   What Is the Best Hardware Wallet? There are a few different types of hardware wallets, and they all have their own features and benefits.   The most popular type of hardware crypto wallets come from companies called Ledger and Trezor. In fact, if you've heard of hardware wallets, you have most likely heard of Ledger Nano S, or Trezor Model T as well.   Of course, there are other companies that offer hardware wallets, but they are usually more niche (either aiming at the customers looking for more affordable solutions, or looking for additional functionality regardless of the price) than the aforementioned two.   How to Pick a Hardware Wallet? There are several hardware wallets to choose from, but consider the following characteristics when making your selection.   Coin Compatibility Different types of hardware wallets handle various coins. Some wallets support only the largest networks like Bitcoin and Ethereum. Others work with hundreds or even thousands of different coins.   Make sure that the hardware wallet you choose supports the cryptocurrencies you want to use. If you're not sure which coins to invest in, choose a wallet that supports many different currencies.   Functionality You should select a hardware wallet based on the type of service you want it to provide. If you are expecting a lot of transactions, you may want a wallet with a large color screen in order to see everything more clearly and cut on eye strain.   On the other hand, if your hardware wallet will be used rarely, and should act as a place to store your crypto that doesn't transact much, you might find a smaller and simpler device much more suitable.   Price Prices for hardware wallets can range anywhere from $50 to $200. When you compare prices, be sure to consider the features and functionality that each wallet offers.   Some more expensive wallets offer features that may be unnecessary for your needs, while others are very basic and lack certain features that you might find important.   OS Support Most hardware wallets support regular operating systems like Windows, Mac OS, and Linux. However, if you are trying to find a crypto hardware wallet device that could pair up with a mobile device, you need to make sure that it supports Android, iOS, or both.   Additionally, some hardware wallets also have Bluetooth capability. That can make mobile transactions much easier, since you won't have to connect your phone to the wallet every time you want to make a transaction.   Are Hardware Wallets Safe? Hardware wallets are considered to be some of the safest ways to store your cryptocurrency. They're offline, which means that they can't be hacked. Additionally, most hardware wallets provide users with a number of security features, like the ability to set up a PIN code or password, that further protect your digital assets.   Of course, no system is perfect, and there have been a few instances of hardware wallets being hacked. However, these cases are usually the result of user error, like not properly securing the device or losing the PIN code.   If you take proper precautions with your hardware wallet, it should be a very safe way to store your cryptocurrency.   Things NOT to Do With Hardware Wallets While hardware crypto wallets are indeed the safest option to store crypto, there are a couple of things you must not do if you want to keep your wallet safe and secure.   Buying a Used Hardware Wallet This might be tempting, especially if you're looking for a cheaper option, but it's not worth the risk.   There's no way to know if the previous owner of a used hardware wallet wiped it clean of all crypto before selling it to you, even if you are buying your device from a reputable seller. Additionally, the seller may have set up a backdoor that would give them access to your crypto even after you've wiped the device.   In most cases, it is just not worth the risk. If you want to buy a hardware wallet, only buy it new from a trusted manufacturer or retailer.   Not Backing Up Your Hardware Wallet Just like with any other type of device, it's important to back up your data in case something goes wrong.   Most hardware wallets come with a seed phrase that can be used to restore your wallet if it's ever lost or stolen. However, it's important to make sure that you backup your seed phrase in a safe place, like a fireproof safe or safety deposit box.   Additionally, some hardware wallets allow you to set up a PIN code as an extra layer of security. If you do this, make sure to also write down the PIN code and store it in a safe place.   Not Updating Your Hardware Wallet's Firmware Most hardware wallets come with regular firmware updates that add new features and improve security. It's important to make sure that you install these updates as soon as they're available.   Failing to do so could leave your wallet vulnerable to attack. Additionally, new features and security improvements are always a good thing, so there's no reason not to update your firmware.   Picking the Wrong Hardware Wallet for Your Needs There are a lot of different hardware wallets on the market, and it's important to pick the one that's right for you.   Think about what features are most important to you and make sure to choose a wallet that offers them. Additionally, check reviews before buying a wallet to get an idea of how well it works and whether or not other users have had problems with it.   Downloading Fake Software When you're setting up your hardware wallet, you'll need to download the software that goes with it. Make sure that you only download this software from the official website of the wallet manufacturer.   There have been instances of fake versions of this software being released that contain malware. This could allow someone to gain access to your device and steal your crypto.   Only download software from the official website to be safe.   Losing Your Hardware Wallet This might seem obvious, but it's important to keep your hardware wallet in a safe place. If you lose it, there is no way to recover your crypto.   Some people choose to keep their wallets in a safety deposit box or fireproof safe. Others keep them in a drawer or other hidden location.   Whatever you do, just make sure that you know where your wallet is at all times and that it's well-protected.   Hardware Wallets are Not for Everyone While hardware wallets are the most secure way to store your crypto, they're not for everyone.   If you're not comfortable with the idea of keeping your crypto offline, then a hardware wallet might not be right for you. You might be better off keeping your crypto on an exchange wallet, a regular software wallet, or even by using paper wallets.   For those that want to have their funds ready for trading or swapping with minimal fees, exchange wallets might be the best choice for you!   For those that want to have custody of their wallet keys but still don’t want funds kept offline, a regular software wallet may be the best choice for you!   With KuCoin catering to your every need, you can choose to store your funds on the exchange, or on a brand new KuCoin Web3 wallet!   Additionally, hardware wallets can be expensive, so if you're not willing to spend the money, you might want to consider another option.   Ultimately, everyone uses their crypto assets differently, which means that they need a different kind of wallet that suits their needs. No matter what type of wallet you choose, it's important to do your own research(DYOR) and pick the one that's right for you.   Bottom Line Hardware wallets are the most secure way to store your crypto, but they're not without their risks. Make sure to invest time in checking which wallet suits your needs best, how to properly set it up, and how to keep it safe.   This will ensure that your crypto is well-protected against any potential threats. Learn-to-Win: Rewards for Our Users Who Join the #ThinkBeforeYouInvest Education Series   In our educational article, we have set an interactive quiz; thus, every 2 weeks, 40 lucky users who finish the steps below will win 10 USDT each:   Step 1: Participants must answer all the questions in the quiz after reading the article and learning the safety tips.   Step 2: Share this link on your Twitter and quote: I am learning and winning from the @kucoincom #ThinkBeforeYouInvest campaign.   The 40 lucky users who finish the required 2 steps will be selected randomly.   The quiz for article four - The Usage of Hardware Wallets in Crypto: https://forms.gle/N322HgT35qCMLduaA   Answers sharing of the #ThinkBeforeYouInvest - Article 3: Question 1: Know Your Customer Question 2: All of them above Question 3: C Question 4: D Question 5: D   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe YouTube Channel>>> Source: The Usage of Hardware Wallets in Crypto| KuCoin
A Huge Increase Of FLOW Price! | Cryptocurrencies Might Decrease Because Of US Dollar (USD) Supported By Jobs Data!

A Huge Increase Of FLOW Price! | The Decrease Of Crypto Might Be Caused By Solid US Dollar (USD) Supported By Jobs Data!

Kucoin Blog Kucoin Blog 08.08.2022 15:17
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Flow (FLOW/USDT) Analysis on KuCoin Chart Most of the cryptocurrencies traded sideways as the global crypto market cap was $1.09 trillion, down 1.33% from yesterday. The overall cryptocurrency market volume in the past 24 hours was $44.71 billion, a 35.18% drop. The entire volume in DeFi came up to $5.00 billion, accounting for 11.15% of the overall 24-hour volume in the crypto market. The overall volume of all stable currencies is currently $40.58 billion, accounting for 90.75% of the entire 24-hour volume of the crypto market. A slight slowdown in the cryptocurrency market can be associated with a stronger US dollar amid a series of fundamentals. A stronger-than-expected US jobs report Friday dominated the end-of-week market price activity; whether they continue or reverse this week largely depends on Wednesday's US July CPI statistics. The dollar maintained steady as US nonfarm payroll data pushed back against predictions of a recession while simultaneously bolstering the argument for further massive rate hikes. Markets swiftly priced in a 70% likelihood of the Fed raising rates by 75 basis points in September, driving two-year yields up 20 basis points. The labor department reported a 528k boost in US payrolls in July, which was more than double the 250k projected, was accompanied by a net 28k upward revision to the combined May/June figures. Moreover, the decline in the unemployment rate from 3.6% to 3.5% also underpinned the demand for the greenback. With a stronger NFP, dollar-denominated cryptocurrency pairs are under pressure as investors' attention shifts to the US dollar. However, this has already been factored in, and the market may return to volatile cryptocurrencies. Let's delve deeper and take a quick look at the latest crypto market news and FLOW's technical outlook. Crypto Market Overview Bitcoin's dominance is steadily declining and now stands at 41.30%; however, BTC‘s price has risen 1.03% in the last seven days. The most valuable cryptocurrency pair, BTC/USD, is currently trading at $23,596.79, while Ethereum, the second-largest cryptocurrency by market capitalization, has risen to $1,729.36, up 2.59% in the last week. The top performers from the previous week were Flow (FLOW), Decred (DCR), and Trust Wallet Token (TWT). FLOW has increased by more than 40% to $2.98, while TWT has increased by 37.63% in the last seven days to $37.36. Finally, the Trust Wallet Token (TWT) gained 25.34% to $1.18. Cryptocurrency Market Heatmap | Source: Coin360 On the other hand, Filecoin (FIL), BitTorrent-New (BTT), and EOS (EOS) were the worst performers of the week, but their losses were minor. FIL is down 10.54% to $9.21; BTT is down 6.87% in the last seven days; EOS is down 6.51% to $1.26. During the last week, the crypto market experienced a risk-off sentiment as investors sought safe-haven assets in the aftermath of a series of hacks and a stronger US dollar. However, the market has already priced in these updates, and risk-on sentiment may prevail this week. So, let us delve a little deeper to discover what is causing market volatility. Top Altcoin Gainers and Losers Top Altcoin Gainers: ⧫ Flow (FLOW) âž  40% ⧫ Decred (DCR) âž  37.63% ⧫ Trust Wallet Token (TWT) âž  25.34% Top Altcoin Losers: ⧫ Filecoin (FIL) âž  10.54% ⧫ BitTorrent-New (BTT) âž  6.87% ⧫ EOS (EOS) âž  6.51% News Highlights Here are some of the events that made the previous week's crypto news section stand out: Ethereum 2.0 Merge in the Limelight, Keeping Ether Above $1,700 The second leading cryptocurrency, Ether, is trading above the $1,700 mark amid merger speculation. Only a few more tests are left before the Merge to ensure that Ethereum's proof-of-work (PoW) protocol seamlessly transitions to its beacon proof-of-stake (PoS) network. Goerli, the most anticipated event for the Ethereum merger, is at its third and final test network environment. Goerli is expected to switch to PoS before August 12. This may vary depending on how fast the hashrate operates. Although the September Merge has received much attention, this final test will determine how things play out on the Ethereum mainnet. Even though this will be the final testnet before the official Merge, Ethereum developers will continue to test smaller devnets and shadow forks. Unfortunately, the Ethereum Merge has frequently been postponed to improve the procedure rather than hasten the transition. This strategy has enabled developers to upgrade nodes and test node functionality securely. We can expect the mainnet Merge to happen soon, assuming no problems arise during the Goerli-Prater Merge. The Ethereum Merge developments are driving a bullish trend not only for ETH but also for the overall cryptocurrency market. Another thing to note is that there have been rumors of a community of Ethereum’s PoW supporters being active, with the most prominent member being Tron’s Just Sun. If this community grows large enough, we may see both a PoW and a PoS Ethereum version staying alive, and being managed by different dev and management teams. Michael Saylor, CEO of MicroStrategy, Steps Down to Focus on Bitcoin Michael Saylor, the CEO of publicly traded business intelligence company MicroStrategy, announced his resignation on August 2. Saylor has been a vocal and enthusiastic supporter of bitcoin for many years. Under his supervision and guidance, MicroStrategy has spent nearly $3 billion to purchase 129,699 Bitcoin since 2020. As a result of its Bitcoin buying spree, the company eventually became the sole largest publicly traded owner of that cryptocurrency asset. Saylor will now serve as executive chairman and will focus on cryptocurrency and Bitcoin activities, according to the official letter. He claimed to be concentrating his efforts on the acquisition of Bitcoin and other cryptocurrency-related projects. Saylor's overemphasis on Bitcoin has harmed MicroStrategy's balance sheet, which is unfortunate. According to its corporate press release and regulatory filings, MicroStrategy lost $917.8 million to its leading digital asset holding, Bitcoin. The asset loss is largely due to a 60% drop in the price of that cryptocurrency from its all-time high of nearly $69,000 per coin in November last year. Crypto Bridge Nomad Recovers $22 Million During the last week, Nomad Cryptocurrency Bridge was the victim of a chaotic attack, which caused the project to lose value among many users. Hackers stole over $190 million from the blockchain network by exploiting an update error. However, according to Etherscan statistics, the Nomad recovery fund received $22 million in ETH, DAI, USDC, USDT, CQT, FRAX, WBTC, and wETH on August 5th. Several "white hat" hackers carried out a bridge raid to return the money to the Nomad team. Instead of taking part in the impending free-for-all, these white hat hackers attempted to defend Nomad cash. Such events hurt the cryptocurrency market and contribute to bearish sentiment. Thousands of Solana Wallets Hacked, SOL Slipped 2.30% The Solana ecosystem appears to be the next victim of cryptocurrency's current hack, with users reporting that funds are being withdrawn from major internet-connected wallets without their knowledge. On the evening of August 2, several users began to claim that their hot wallets, which are internet-connected addresses such as Phantom, Slope, and Trust Wallet, had drained their funds. The exact reason for the attack is still unknown, but the vast majority of those affected use mobile wallets. The fact that the attacker signs, initiate, and authorizes transactions on behalf of users suggests that the Hacker may have hacked a trustworthy third-party service in a supply chain attack. However, according to blockchain auditors OtterSec, the hack is still active, affecting over 8,000 wallets and many Solana addresses. Furthermore, those wallets amassed SOL, SPL, and other Solana-based tokens worth at least $5 million from unsuspecting clients. The Fear & Greed Index Is 30, Signaling “Fear”- Risk-off Sentiment in Play The fear and greed index signals "fear," with an index indicating a 30 score. Fear levels have remained unchanged from yesterday. Last month, the index scored 24, indicating extreme market fear. Since the index shifted from "extreme fear" to "fear," the market has been trading with the risk-on sentiment. Perhaps this is one of the reasons for the bullish trend in the cryptocurrency market.   Fear & Greed Index | Source: Alternative Crypto Calendar: Events to Watch This Week ➺ 09/08/2022 - HBAR - Mainnet Upgrade V0.27.x ➺ 09/08/2022 - 5IRE - Blockchain Futurist Conf ➺ 11/08/2022 - ETH - Goerli Merge ➺ 11/08/2022 - NEAR - NFT Discussion with ASAC ➺ 13/08/2022 - XMR - Network Upgrade Flow (FLOW/USDT) Analysis on KuCoin Chart Flow is trading sharply higher at $3.05, having completed a Fibonacci retracement of 61.8% at $2.60. FLOW/USDT has formed a bullish engulfing candle on the 4-hour timeframe, indicating an uptrend, and it is now approaching the $3.01 resistance level. A break above the $3.01 resistance level exposes the FLOW price to the $3.33 major resistance level. Whereas, further on the higher side, FLOW has resistance at $3.80. FLOW/USDT Chart on the Daily Timeframe | Source: KuCoin   On the downside, FLOW’s immediate support is $2.80 per coin. If FLOW falls below this level, it will be vulnerable to the next support levels of $2.60 and $2.34. Technical indicators like the RSI (relative strength index) and MACD (moving average convergence divergence) point to an uptrend. Furthermore, the 50-day EMA (exponential moving average) is holding at $2.200, supporting the bullish trend in FLOW. Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe YouTube Channel>>>   Source: Weekly Crypto Analysis: Market Cap Stays Above $1 Trillion Despite Series of Hacks, FLOW Pumps 40% | KuCoin
5 Cryptocurrencies To Keep A Watch On: DYDX (dydx), IOTA (MIOTA), Fusion (FSN), Komodo (KMD), OKB (OKEx)

5 Cryptocurrencies To Keep A Watch On: DYDX (dydx), IOTA (MIOTA), Fusion (FSN), Komodo (KMD), OKB (OKEx)

Rebecca Duthie Rebecca Duthie 08.08.2022 16:32
Summary: A summary of DYDX, MIOTA, FSN, KMD, OKEx. Perpetual trading, NFTs, Virtual worlds. Proof of work, proof of stake, proof-of-history, delayed proof-of-work. The DYDX Platform Dydx is a decentralised trading platform that is used for cryptocurrency margin trading for assets such as ETH, BTC, SOL, DOT and more. The bulk of the trading happens on the Ethereum blockchain, however, with the recent launch of layer 2, the Dydx exchange can be used for inexpensive, instantly settled trades. Dydx has successfully filled a niche market in the world of cryptocurrencies. Dydx is a leading crypto exchange that supports perpetual trading. It trades on the ethereum block chain using smart contracts and no intermediaries. Perpetual trading on cryptocurrencies are financial derivatives that enable traders to bet on crypto asset price movements, using leverage without owning the underlying asset. Some advantages of using this method are: Increased flexibility of trades by allowing both long and short trades. Increased leverage. Dydx is aiming at trading for everyone. They are building an open platform for crypto financial products, which is powered by the Ethereum blockchain. The IOTA Platform The IOTA pl​​atform is a distributed ledger: it isn't actually a blockchain. Instead its proprietary technology is known as Tangle, which is a system of nodes that confirm transactions. The foundation that this platform rests on claims it offers greater speeds than conventional blockchains - a footprint that is ideal, especially in the ever-expanding Internet of Things ecosystem. Due to the fact that it is not a blockchain, IOTA does not have miners and therefore does not have any fees. Many networks that are established see costs inflate as congestion on the network intensifies, however IOTA aims at providing limitless throughput at minimal expenses. Read more: Altcoins: IOTA (MIOTA) - What Is It? - A Deeper Look Into the IOTA (MIOTA) Platform  The Fusion Platform Fusion describes itself as an all-inclusive blockchain based financial platform that offers cross-chain, cross data source and cross-organisation services through making use of smart contracts. The Fusion project makes use of the Hierarchical Hybrid Consensus Mechanism (HHCM), which amalgamates elements from proof-of-stake (PoS), proof-of-work (PoW) and parallel computing, this is done with the goal of creating a safe and efficient platform. Fusion leverages Distributed Control Right Management (DCRM) as an extra layer of security, DCRM protects crypto assets on the Fusion blockchain. The distributed storage and sharding of a private key ensures that no single node has the ability to gain control of assets. Fusion also provides for multiple triggering modes, such as event-based and time-based triggers, these are included in their smart contracts, which were designed to meet the demands of complex smart contracts. Read more: Altcoins: Fusion (FSN) - What Is It? - A Deeper Look Into the Fusion (FSN) Platform, An Interoperable Ecosystem For Financial Innovations  The Komodo Platform Komodo is an open-source technology provider that offers enterprises and developers all-in-one blockchain solutions. Komodo builds technologies that make it possible for anyone to launch cross-protocol financial applications, branded decentralised exchanges and independent blockchains. Komodo’s flagship, end-user application is AtomicDEX which is a non-custodial multi-coin wallet, bridge and DEX rolled into one app. AtomicDEX is compatible with 99% of the cryptocurrencies currently in existence and offers the widest cross-chain, cross-protocol trading support of any decentralised exchange. Komodo is the creator of the delayed proof-of-work (dPoW) which is the industry-leading 51% attack security network. Powered by Litecoin cross norarisations and is backed by a notary node network, currently dPoW secures more than 30 blockchains. Komodo also provides its own native multi-chain blockchain network that allows anybody to launch a blockchain of their own, that is independent of the Komodo blockchain, this blockchain is called a Komodo Smart Chain (KSC) and runs separately from the KMD chain. Each KSC has its own coin, has fully customisable parameters and faces zero gas fees. Read more: Altcoins: Komodo (KMD) - What Is It? - A Deeper Look Into the Komodo (KMD) Platform  The OKB crypto platform OKB is a cryptocurrency that was released by the OK Blockchain and Maltese crypto exchange, OKEx. The exchange is one of the largest in the world and is currently ranked third in terms of liquidity, fourth in terms of trading volume the platform also provides a wide variety of trading pairs for its users. OKEx is similar in many ways to the cryptocurrency giant, the Binance protocol, however, there are a few differences separating the two. The OKEx facilitates its own cloud mining services, and the company also has focused reach when it comes to providing trading options for its users. OKB is the OKEx utility trading token, the token enables the platform's users to access the exchanges special features. The OKB token is used when calculating and paying fees, rewarding its users for holding OKB and to give users access to voting and governance within the platform. Read more: Altcoins: OKB, OKEx- What Is It? - A Deeper Look Into the OKB (OKEx) Platform  Sources:fxmag.com
Turbulent Times Ahead: USD Smile and JPY's Future - Q3 2023 Analysis

US Close – Stock rally faded, Nvidia’s warning, Oil rebounds, Gold above $1800, and Bitcoin eyes breakout

Ed Moya Ed Moya 09.08.2022 08:16
With persistent inflation and a strong labor market, the Fed is on a clear path to raise rates. This week is all about inflation and many traders are expecting to see the inflation to decelerate. Headline inflation is widely expected to decrease on a month-over-month over basis.  The focus will probably fall on core and those prices will remain elevated.  Much of Wall Street was stunned that the Biden administration was able to pass something before the midterm elections.  The Senate was able to pass a $430 billion landmark tax, climate, and health-care bill. Investor appetite for risk was healthy early from the news on American clean power jobs and on a new EV tax credit. A small future tax on buybacks did not spoil the initial stock market rally, but may make some companies run up their repurchases before the end of the year.  US stocks were unable to hold onto the early euphoria after Nvidia reminded us of the troubling macro environment as supply chain issues persist.  Nvidia Tech stocks were dragged down after Nvidia was the bearer of bad news and highlighted a significant slowdown was happening in gaming. Nvidia is going to have disappointing revenue numbers and they expect challenging market conditions to persist in the third quarter.  Nvidia is one of those companies that does things right and has the majority of analysts backing their stock(37 buys, 11 holds, and 1 sell). Nvidia’s warning is reminding traders of how severe the macro impacts might be on tech for the rest of the year.    FX The dollar rally is on hold, but it is far from over. Falling Treasury yields as some investors scramble to the sidelines should remind investors demand for safe-havens won’t be fading away anytime soon.  Corporate America gloom will remain the dominant theme for the third quarter and that should keep the dollar supported despite the current exhaustion with its rally. The interest rate differential has mostly been priced in for the dollar’s advantage and that could get even wider if Wednesday delivers a hotter-than-expected inflation report.  Oil Oil prices are rebounding as the recession riddled outlook and crude demand destruction calls were overdone. A slightly weaker dollar also provided a boost for commodities, but that might not last.  Energy traders digested a Goldman Sachs note that made a case for higher oil prices.  Goldman emphasized that the oil market is stuck in a larger deficit and you can’t argue against that. Much attention remains with Iran nuclear deal talks, but it seems unlikely a breakthrough will happen anytime soon.  Tehran seems like they are willing to negotiate, but an imminent decision to agree to the EU’s proposal seems unlikely.     Gold Gold prices are trying to get its groove back as Treasury yields drop and risk appetite struggles to reassert itself. Gold might struggle to rally much further until we get beyond this massive inflation report. It seems Wall Street is expecting pricing pressures to moderate here and that has been good news for bullion.  While headline inflation might ease, the focus should be on core and that probably will remain hot. Crypto Bitcoin remains near its recent highs as crypto traders are looking to see if the crypto winter is over. The return of some meme stock mania is taking away some attention from cryptos, but that might not matter.  The selling pressure has significantly eased and momentum traders could pounce on the break of the $25,000 level.  This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. US Close - Stock rally faded, Nvidia's warning, Oil rebounds, Gold above $1800, and Bitcoin eyes breakout - MarketPulseMarketPulse
Bitcoin Has A Sign Of The Sideways Regime

Crypto! It's Incredible! Look At (BTC/USD) Bitcoin Price!

InstaForex Analysis InstaForex Analysis 09.08.2022 08:23
Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Bitcoin began Thursday morning with a spectacular 2.5% rise, and by the time of writing, its value is balanced at around $24,100. According to digital asset price tracking website CoinMarketCap, over the past 24 hours, the lowest value of bitcoin reached $22,930, and the high was $23,359.     At the same time, the last seven-day period turned out to be extremely unsuccessful for the BTC, unlike the previous two weeks of growth. The main coin showed low activity and weak bullish momentum during the seven previous trading sessions. All this time, the value of bitcoin has been balancing near the $23,000 mark, trying in every possible way to soar towards the next round level, but it has not been able to make a significant breakthrough. As a result, at the close of the session on Sunday, the coin was trading around $22,973 with an intra-weekly drop of 3.13%. The main reason for bitcoin's negative dynamics last week, experts call the suspension of the growth of US stock indices. So, only by the end of Friday, the stock indicators of the S&P500 and NASDAQ sank by 0.16% and 0.5%, respectively. By the way, since the beginning of 2022, analysts have increasingly begun to emphasize the high level of correlation between the US securities market and virtual assets against the background of intense expectation by both of the consequences of the geopolitical conflict in eastern Europe and the next steps of the US Federal Reserve. Earlier, analysts of the investment company Arcane Research have already stated that the correlation of BTC and technology securities has peaked since July 2020. Such close parallels of bitcoin with US stock indicators, in particular with the NASDAQ index, make investors increasingly doubt the ability of cryptocurrencies to become a means of protection against inflation. Altcoin Market Bitcoin's main competitor, the Ethereum altcoin, started Monday's trading session with a sideways movement and by the time of writing the material is balancing at $1,711. Over the past day, the coin has lost about 0.9% of its value. At the same time, last July turned out to be a month of permanent growth for altcoin, when its price rose by more than 50% – to the highest levels since mid-June - above $1,700. The main catalyst for the July rise in the ETH price was a message from one of the project developers that the Ethereum blockchain could move to a new Proof-of-Stake algorithm that does not require the participation of miners, as early as mid-September. As for cryptocurrencies from the top 10 by capitalization, over the past day, all coins, except for a number of stablecoins, were traded in the green zone. At the same time, the Solana digital asset showed the highest results here (+5.33%). During the past week, all cryptocurrencies from the top ten, except for BNB and Polkadot coins, also lost in price. At the same time, the best results were recorded for the BNB coin (+6.65%), and the worst – for Solana (-9%). The spectacular fall in the value of Solana happened due to the fact that fraudsters gained access to the assets of users of this network. Later, the Solana team announced the theft of funds from users of the project. According to the world's largest aggregator of data on virtual assets CoinGecko, over the past day among the top 100 most capitalized digital assets, the Oasis Network coin topped the list of leaders (+24%), and Decred (-10.3%) took the first place in the drop list. According to the results of the past week, the Flow coin (+52.0%) showed the best results among the hundreds of the strongest cryptocurrencies, and the worst – DeFiChain (-16.4%). According to the CoinGecko portal, over the past seven days, the total capitalization of the cryptocurrency market has exceeded $ 1.1 trillion, and the share of VTS has sunk to 40.4%. Forecasts of Crypto Experts The past July was the best for bitcoin in the last nine months. According to its results, the coin grew by 27% and closed trading at around $23,800. The first cryptocurrency showed a higher rate of increase according to the results of July only in 2012. Traditionally, August is considered not the most favorable month for bitcoin. Over the past 11 years, the asset has completed its growth only in five cases and decreased six times. At the same time, the average increase was 26%, and the decrease was 15%. If the digital asset chooses the first scenario in August, it can end the month at $30,000, if the second one is about $20,000. By the way, pessimistic sentiments can also be seen in today's forecasts of experts regarding the future of the cryptocurrency market for August. The main factors of pressure on asset quotes in the current situation, they call conflicts in the geopolitical arena (the Taiwan crisis, the aggravation of the situation in Serbia and the armed confrontation between Russia and Ukraine), the consequences of the struggle of world central banks with record inflation, the technical recession in America and the high correlation of the bitcoin price with the S&P 500 stock index. Experts also call the permanent departure of serious market players who again choose investments in gold and other precious metals a significant factor of negative impact on cryptocurrencies. The only catalyst for the growth of the value of digital assets in the long term, cryptanalysts call the elections to the US House of Representatives, scheduled for November 8. Taking into account all of the above, the general forecast for bitcoin for August is extremely negative, while many experts do not exclude the risks of updating the price lows with the first cryptocurrency and bitcoin falling by 60-70%. If the main virtual coin breaks the $15,000 mark, analysts are sure, the entire cryptocurrency industry will begin to collapse. This, in turn, will cause a serious panic in the market and the flight of large players from virtual assets. As for individual scenarios of cryptanalysts regarding the near future of bitcoin and the digital asset market as a whole, on the eve of the head of the investment company SkyBridge Capital Anthony Scaramucci said that the worst part of the bearish trend was left behind. The peak of this phenomenon, the expert believes, happened amid the collapse of the digital asset market caused by the bankruptcy of the Three Arrows, Celsius and Voyager cryptocurrency funds. According to Scaramucci, in the short term, the value of bitcoin is unlikely to fall below the lowest level of $17,600. Recall that such a price indicator was reached on July 16 by the BTC quotes for the first time since November 2020, when the coin began to cost less than $18,000. Later, the head of SkyBridge added that the fair market value of the first cryptocurrency is about $40,000. However, according to the American financier, in conditions of high volatility of the BTC and with an unstable macroeconomic situation, the cryptocurrency will need about 4-5 years to fully enter the phase of active growth. Previously, the popular crypto investor Bob Lucas predicted a "real crypto winter" in the digital asset market in 2026. At the same time, Lucas is confident that before the next collapse of the virtual coin market, the bitcoin price will update the historical high. A recent report by the investment company Arcane Research says that, if BTC holds the key level of $20,700, its value will soon be fixed in the range of $27,000-28,000. The key factors influencing the behavior of bitcoin in the future, according to the company's analysts, will be the dynamics of the US stock market, as well as the monetary policy of the Fed. If the exchanges of America continue to decline, Arcane Research claims, the downward trend of bitcoin will continue.   Read more: https://www.instaforex.eu/forex_analysis/318328
Doge (DOGE) Vs Bitcoin (BTC) - Elon Musk Comments!

Doge (DOGE) Vs Bitcoin (BTC) - Elon Musk Comments!

InstaForex Analysis InstaForex Analysis 09.08.2022 10:11
Relevance up to 06:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   In the 4-hour time frame, BTC quotes hit $24,350 yesterday. So, the price has already reached this mark three times. It may seem that bitcoin rose steeply yesterday, but it is not entirely so. It gained just $1,500. According to the chart, the digital asset has been trading in the sideways channel for almost a month. The price barely showed growth within the channel. Moreover, BTC did not even try to consolidate above or even below it. Therefore, the price is likely to pull back from $24,350. At the same time, should BTC break through the mark, growth will last for several weeks. It will hardly be stronger than in recent weeks. Still, it could happen. As for a possible fall, we believe it will definitely take place if the price consolidates below the ascending channel in the 4-hour time frame. Its lower limit is now seen at around $20,500. The entire crypto market is now waiting for what is going to happen next. Clearly, if the bearish trend stopped, digital gold would already skyrocket. Instead, we see its sluggish attempts to enter a correction. Meanwhile, let's turn to Elon Musk's recent comment. Thus, according to Tesla CEO, Dogecoin is better than bitcoin because its transactions are completed in 60 seconds, while bitcoin transactions take approximately 10 minutes. "I'm mainly supporting Doge frankly because I think Doge has the memes and dogs and it seems to have a sense of humor and doesn't take himself too seriously. I think actually weirdly even though Doge was just designed to be like this ridiculous joke currency, but the actual total transactional throughput capability of Doge is much higher than bitcoin," the billionaire said. He also emphasized that the Dogecoin network allows 5 billion coins to be created annually, unlike Bitcoin with its maximum supply of 21 million coins. In his view, this makes Dogecoin a transactional currency. It is unclear why Elon Musk sees it as a good thing. After all, Bitcoin's biggest advantage is that there can be no more than 21 million coins created. So, it will not be subject to inflation or depreciation due to additional emissions. Yet, Musk always has his own point of view or perhaps an irresistible desire to promote Doge.     In the 4-hour time frame, BTC is still retracing up slightly. The price is likely to descend in the case of consolidation below the ascending channel. The first bearish target stands at $17,582, in line with the latest swing low. The common target for two time frames is seen at $12,426.   Read more: https://www.instaforex.eu/forex_analysis/318392
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

BTC: How Could Certain CPI Forecasts Affect Bitcoin Price?

InstaForex Analysis InstaForex Analysis 09.08.2022 10:22
Relevance up to 08:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Another trading week has started promisingly for Bitcoin and the cryptocurrency market. Most of the coins moved in the green zone, and the market capitalization reached the level of $1.13 trillion. Trading activity is gradually recovering, and the upward movement of the major cryptocurrencies gives confidence to the entire market. Bitcoin bulls finally consolidated above the $23k level, which gave the market a signal for further growth. However, above the $23k level, things are not going well for the main cryptocurrency.     The coin re-formed a strong green candle that tested the $24.3k level. However, the price was subsequently squeezed below $24k amid increased selling pressure. The $24k level has been tested six times in the last three weeks but has not been broken. This indicates serious bearish volumes near the round mark and local weakness of the bulls. Despite the recovery in trading activity after the opening of the American session, trading volumes are still insufficient to hold the $24k level and build on the bullish success. As of August 9, this is influenced by three factors, two of which are negative.     The first is to publish reports on the movement of the CPI. Given the macroeconomic and geopolitical situation, the consumer price index is the main guide for investors. It allows you to determine the future policy of the Fed and, therefore, the direction of the trend of stock indices and cryptocurrencies. And although Fed Chairman Jerome Powell said that the regulator will proceed from facts, not forecasts, the market focuses on forecasts. According to the latest data, the CPI is expected at 8.7%, and the current price movement is already adjusted to these expectations. Based on this, Bitcoin can expect a flat trend if the forecasts come true, a retest of the $20k level if the CPI turns out to be higher than the forecasts, and a probable breakdown of $24k if the index falls above expectations.     In anticipation of the publication of data on inflation, trading activity in the market has been reduced to a minimum, especially by institutional investors. This significantly limits the upward potential of the Bitcoin price. And here we are approaching the second negative factor, which contributes to increased pressure on BTC/USD quotes. We are talking about miners who continue to suffer losses following the results of the current bear market. Mining profitability has been falling since March. July was no exception, and BTC mining companies dropped another 9%. In search of available liquidity, miners are selling off their bitcoin holdings, putting pressure on the price and complicating the upward move, including a $24k retest.     The third factor in the weak upward movement in the price of Bitcoin is cumulative. In recent weeks, the asset has been growing on positive news, as can be seen from the impulsive bullish jerks and the subsequent local correction with the main support lines being held. There was also an increase in the volume of active addresses with a non-zero balance. This indicator rose to 2.7 million, which is a signal for the growth of bullish sentiment.     But at the same time, trading volumes did not grow during the day, which indicates a certain overheating of the asset and a lack of liquidity for growth. Therefore, Bitcoin needs consolidation to stabilize the ratio of addresses and trading volumes. The only thing that will help speed up this process is low volatility and macroeconomic calm.     Technical indicators indicate that Bitcoin has been in a consolidation for the last week. The asset consistently moves within the $22.5k–$24k range with clear bullish signals (retesting $24k six times). The relative strength index is moving along the 40–60 area, a positive sign indicating the stabilization of the metric and the preservation of buying activity. Stochastic and MACD have also become flat, which indicates the need for consolidation before the next breakout. Most likely, a breakthrough will occur in the coming days due to the positive dynamics of the CPI. However, as we saw in June, inflation is an unpredictable thing.   Read more: https://www.instaforex.eu/forex_analysis/318412
An Investigation Against Terraform Labs In Singapore

Altcoins: ETH/USD Chart Shows Impressive Levels! How Many Transaction Per Second Would Ethereum Handle?

InstaForex Analysis InstaForex Analysis 09.08.2022 12:39
Relevance up to 09:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. With each passing week, Ethereum is getting closer and closer to the key mark of $2000. Despite a certain decrease in buying activity and the realization of most of the bullish potential, Ethereum continues to maintain leadership among the major cryptocurrencies. Over the past 24 hours, the asset has risen in price by 2%, and the weekly increase was 11%. At the same time, the ether approached the lower border of the $1800–$2100 resistance area. The asset will have a serious trade in this range, which will certainly lead to increased volatility and wandering between support and resistance zones.     The main catalyst for the upward movement of the altcoin is the institutional audience, actively fed by the representatives of the project with rosy promises. Ethereum co-founder Vitalik Buterin said that after the transition of the ether to the PoS algorithm, the popularity of crypto payments can grow significantly. The entrepreneur attributes this to the improvement in transaction per second throughput since the final Ethereum upgrade. Buterin is sure that the main altcoin can process more than 100,000 transactions per second. This was big news, which strengthened the position of Ethereum in the eyes of institutional players.     The current position of Bitcoin is also one of the reasons for the increased interest in Ethereum. The main cryptocurrency is stuck near the $24k level and cannot overcome it, also due to low trading volumes. Institutions are also well aware of the dependence of BTC on inflation and stock indices. The combination of these factors makes Bitcoin less attractive to big capital, as the asset does not have the fundamental support for a meaningful bullish rally. The transition to PoS is the very ETH argument that allows the asset to win the competition in terms of attractiveness from Bitcoin at the current stage.     The Ethereum update also provokes far-reaching and positive forecasts from the main representatives of the crypto industry. Former BitMEX CEO Arthur Hayes believes that by the end of the first quarter of 2023, ETH/USD will reach $5000. In addition to switching to PoS, Hayes highlights the Fed's monetary easing as the main benefit of the altcoin. The entrepreneur is confident that after the PoS update, Ethereum will temporarily take the place of Bitcoin in terms of investment attractiveness. Hence, the conclusion that easing monetary policy will have a better effect on ETH, not BTC.     To develop Hayes' idea, it is worth adding two important theses that allow us to argue that Ethereum will go up in the fall. The first factor concerns the US elections in November. The government will probably try to create an appropriate economic climate. The technical recession of the economy due to the hawkish policy of the Fed clearly does not apply here. The second factor is based on Fed Chairman Jerome Powell's statement that the rate will reach a neutral level by the end of 2022. Given these two factors, it is likely that following the final migration of the network and the transition of dApps to PoS algorithms, Ethereum will receive investment fuel from the US government.     In technical terms, the asset took a break after an unsuccessful assault on $1800. The bears defended the level and pushed the buyers to the nearest support at $1750. The RSI index and the stochastic oscillator are becoming flat, which indicates the need for local consolidation. There is also pressure coming from Bitcoin, which failed its $24k assault. The combination of these factors indicates that the next stage of strong growth will begin after the publication of the CPI report. Until then, the asset is likely to continue consolidating.   Read more: https://www.instaforex.eu/forex_analysis/318420
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

BTC/USD Like Stocks!? Bitcoin Is Awaiting Inflation

Craig Erlam Craig Erlam 09.08.2022 13:31
Equity markets are lacking any real direction in Asia and that appears to be carrying into the European session as well. Europe is seeing minor losses on the open, offsetting some of the small gains in choppy trade at the start of the week. This follows a similarly choppy session in the US on Monday as the Dow flirted with exiting correction territory and the Nasdaq bear market territory. We may have reached a point in which investors need to decide whether they truly buy into the recovery/no recession narrative or not. That is what appears to have fueled the recovery we’ve seen in equity markets despite the fact that inflation hasn’t even started falling, central banks are still hiking aggressively and recession is on the horizon for many. It’s time to decide whether this is just a substantial bear market rally or a genuine view that the economic outlook is far less downbeat than many fear. If equity markets are going to push on from here, it must be based on the latter which I’m sure many would welcome but perhaps more through hope than expectation. Don’t get me wrong, the US in particular still has plenty of reason to be encouraged. The data on Friday highlighted once more just how hot the labour market still is and the consumer is still in a very healthy position. But there are pockets of weakness as well and unless inflation starts to subside, those areas of strength will start to crack. The inflation data on Wednesday could effectively set the mood for the rest of the summer. That seems quite dramatic but if we fail to see a drop in the headline rate, considering the acceleration we’re expected to see in the core, it could really take the wind out of the sails of stock markets as it would be very difficult for the Fed to then hike by anything less than 75 basis points in September. Of course, there will be one further labour market and inflation report before the next meeting which will also have a big role to play. But the July data will be very difficult to ignore. If the rally is going to continue, we may need to see a deceleration in the headline rate at a minimum, perhaps even a surprise decline at the core level as well. It’s no wonder we’re seeing so much caution this week. Bitcoin rallies losing momentum Bitcoin is not generating the same momentum in its rallies in recent weeks, as it continues to run into strong resistance on approach to $25,000. In much the same way that US stock markets are lingering around potentially important levels ahead of the inflation data, we could see bitcoin behaving in a similar manner. A weaker inflation reading could be the catalyst it needs to break $25,000 and set its sights on the $28,000-32,000 region once more, where it hasn’t traded since the early part of the summer. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Lacking direction - MarketPulseMarketPulse
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

STP (STPT) Coin - What Is It? - Binance Academy | Altcoins

Binance Academy Binance Academy 09.08.2022 15:32
TL;DR STP aims to optimize the current state of Decentralized Autonomous Organizations (DAOs). It offers solutions to streamline existing fragmented DAO tooling, create DAOs without coding knowledge, and manage DAOs more efficiently. Ultimately, a holistic DAO ecosystem would lower fees and increase transaction speed to promote adoption. Introduction Decentralized autonomous organizations (DAOs) are community-led, transparent, and fully independent entities that run on the blockchain. DAOs are typically built on layer-1 networks, and due to scalability limitations they inherit from these blockchains, activity on DAOs can often be slow and expensive. In addition, although there is an abundance of DAO tooling in the market, the crypto space remains fragmented across multiple chains and tools. As DAOs continue to gain traction, it’s important to ensure a smooth and efficient onboarding process for projects and users. In 2021, STP launched Verse Network, a full suite of native tools and infrastructures facilitating efficient decentralized decision-making for users, communities and organizations to streamline the creation and management of DAOs. Through Verse Network, users can access a suite of no-code DAO tools to launch and manage their DAOs on the blockchain.  Learn more on Binance.com How does STP work?  STP offers solutions for DAO creation, management, as well as governance using their all-in-one DAO tool, Clique. Clique helps alleviate the fragmentation of DAO tooling by providing a comprehensive dashboard for users to manage all their activity across multiple DAOs. It also helps to sync information & updates from multiple DAOs. As the number of DAOs continues to grow, members can streamline their workflow using Clique, maximizing their efficiency with a better user experience.  Here are some other ways Clique can be used: DAO creation Clique provides a full suite of no-code tools and infrastructure for projects to build DAOs in the Verse ecosystem. All aspects of DAO creation can be executed directly on Clique, including: Selection of a template for DAO creation, including Membership DAO, Project DAO, and Investment DAO Issuance of new tokens and bridging existing tokens for cross-chain capabilities Implementation of custom token distribution schedule with reserved token allocation  Customization and execution for whitelist and public sale Issuance of DAO token for governance Clique offers templates that work for DAOs across different use cases and industries while still providing users with options for additional customization. Using Clique, projects can maintain high flexibility in creating their on-chain DAO without the need to create smart contracts. Projects are able to have a say in token creation, token distribution, and public sale, as well as configure the governance structure of the DAO. This includes rules for minimum holdings for a variety of governance and DAO mananagent activities such as proposal creation and voting.  DAO management and governance ​​Once a DAO is created and launched on Clique, the decentralized app (DApp) also allows community members to browse, govern, and socially participate in their projects through an aggregated dashboard. Appointed managers can also oversee and track their DAO’s governance and social activity. Managers can analyze activity metrics in comparison to other DAOs. In turn, DAO members are able to view DAO contributions and track activity in the DAOs they chose to join.  Below are DAO management features on Clique accessible to DAO managers and members: Accessing an aggregated dashboard to manage all followed DAOs, created DAOs and asset holdings for the user. Browsing all featured or followed proposals and social posts. Browsing ongoing events across the universe of DAOs on the Verse, including pinned and attended events. Viewing DAO participation, including voting on proposals, social interaction through discussion forums, public profile tracking, etc. For managers, overseeing and tracking DAO governance and social activities across all members, and analyzing their activities compared to other DAOs. Monitoring active participation among members Apart from token holdings, Clique also allows members to observe how active other members are by tracking various key participation metrics. This includes voting frequency, number of proposals made, social posting, analytical work, token management, and so on. With Clique, DAO members can track all of these activities, as well as future DAO proposals and events in the streamlined dashboard.  Cross-chain governance with Data Bridge The Verse Network’s Data Bridge enables cross-chain governance for DAOs. The Data Bridge serves as a cross-chain synchronizer to communicate data and voting results between the DAO’s original chain (Ethereum) and Polygon, where Clique is located.  On the Polygon chain, the governance contract allows users to create and vote on proposals. The voting power of a user is determined by the snapshot of their token holdings at the time a proposal is created.  Validator nodes store historical data and snapshots from Ethereum as a certificate in order to deliver user signatures on Polygon. The certificate includes the corresponding token holdings of each user. Users can create and vote on proposals using their signature, with each unique signature being validated by the contract.  What is STPT? The native token of STP is called STPT. Token holders can use STPT to vote for governance proposals related to its ecosystem and future development. STPT is also used to access the full suite of tools on Verse including Clique and Data Bridge. Closing thoughts STP is working towards an inclusive DAO ecosystem that can be used by anyone. The suite of tools available on Verse Network allows for easy DAO creation and management as it aims to unify the DAO space and encourage adoption.
Talking S&P 500, Nasdaq, Gold, Bitcoin And More - 09/08/22

Talking S&P 500, Nasdaq, Gold, Bitcoin And More - 09/08/22

Monica Kingsley Monica Kingsley 09.08.2022 16:00
S&P 500 bulls were clearly rejected, and it‘s highly questionable whether they would make another run. I doubt they would. And even if, it‘s bound to get rejected as none of the bearish fundamental reasoning ceased to apply, and it‘s getting reflected in the chart technicals as well. As stated yesterday: (…) The renewed tightening bets spurred by strong headline NFPs figure, will take their toll on risk-on assets that had been driving Friday‘s run. Bets on another 75bp hike in Sep have increased dramatically, practically proving Daly or Kashkari right in that the Fed isn‘t done yet or even close to the Fed funds rate to really get inflation down. While they claim that 2% is doable and soft landing within reach, the progression from 9% downwards just doesn‘t go fast like that. At best (repeating myself for months here), they would get to 5-6% CPI, which means a tough Sep and one more FOMC still this year. Combined with balnce sheet shrinking projections, that would take a great toll on the real economy – one that is being softened by the still very expansive fiscal policy. Given tomorrow‘s CPI that‘s likely to come in better than the markets fear it would (i.e. in support of the inflation has peaked thesis), the room for disappointment in inflation trades is there, and the hopes that the Fed might not get as aggressive on a better CPI figure, wouldn‘t balance that out in my view. Here comes a fitting question just in that allows me to develop these thoughts further to the benefit of the whole audience: Q: CPI wednesday will certainly show much lower numbers than previously (mainly because oil was recently much cheaper than in May, June). FED has proven to be rather readily dovish in such events. Investors will see the US companies and the US technology sector as the safe haven. Because elsewhere in the world (mainly in politically and economically weak Europe) is a mess. US as safe-heaven was proven by recent Apple and Amazon earnings and also by recently approved US government stimulus for micro-chip / semiconductor production. Isn't this environment rather bullish for US equities especially to the near future ?? Outflow of money from Europe into strong and safe US. A: I doubt the Fed would react dovishly to softening inflation as they have to take on the pesky inflation expectations (it was a key lesson of the 1970s when they didn‘t). It gives them optically a better chance at taking inflation down fast – and the markets would wake up to their dovish perception mistake, should they make it in the first place. The fiscal stimulus is though being faded in the stock market, it‘s closer to the case of sell the news than anything else. The money flows are going to be selective about what assets they would lift, and odds are it wouldn‘t be parked in tech for too long if Treasuries stop revolting against the Fed‘s rate raising. Such a time point would come over the nearest months ahead, but still I am not counting on any giant Nasdaq run, or rather any run to speak of (no matter the degree of Treasuries‘ next move). To feel the daily pulse, let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article features good 6 ones, which I am unlocking today in full so that you get a better the regular care premium subscribers get, especially before tomorrow‘s inflation data. S&P 500 and Nasdaq Outlook S&P 500 is turning down, and Friday‘s signal is getting repeated – i.e. getting stronger. The daily indicators have also deteriorated, but the volume and sectoral internals message is the most important here. Credit Markets HYG indeed attracted sell – and the reversal to the downside needs a confirmation today in terms of rising volume and daily close anywhere in the Friday‘s daily range. Gold, Silver and Miners Precious metals want to turn up, and miners are at least on a daily basis following. Echoing yesterday‘s premium thoughts, they aren‘t selling too hard on the turn towards anticipating tougher tightening ahead. With hikes to be paused after Sep for a while, the metals would have an easier time before that FOMC day in Sep. Next week‘s CPI will have a short-term effect only – the consequences of recognizing inflation as sticky no matter what the Fed has done already, would be greater. This moment awaits still. Crude Oil Crude oil‘s rebound isn‘t yet turning the tide, and the approaching seasonality spells trouble ahead. I‘m still leaning towards the $88 support slowly giving way as $85 approach comes next – we may land in the low 80s really before rebounding early November. Copper Copper‘s short-term bullish move is encouraging, but the vulnerability to the hawkish Fed moves and rhetoric remains – it would probably play out after the CPI only, which applies also to oil. Bitcoin and Ethereum Cryptos are clearly reversing, and that‘s a good sign for those betting on a bearish resolution of tomrorow‘s inflation data overall.
Altcoins: Stellar Lumen (XLM) What Is It? A Deeper Look Into The Stellar Lumen Platform

Altcoins: Stellar Lumen (XLM) What Is It? A Deeper Look Into The Stellar Lumen Platform

Rebecca Duthie Rebecca Duthie 09.08.2022 17:18
Summary: What is the Stellar Lumen Platform and how does it work? Advantages of the Stellar Lumen exchange. Stellar's past, present and future price positions. Read next: 5 Cryptocurrencies To Keep A Watch On: DYDX (dydx), IOTA (MIOTA), Fusion (FSN), Komodo (KMD), OKB (OKEx)  Stellar Platform The Stellar network is an open-source platform for currencies and payments. Stellar has no owner, it is said to be owned by the public. Stellar relies on the blockchain to keep the network in sync, but the end user experience is more similar to cash, the platform is much faster, cheaper and more energy efficient than most other typical platforms on the blockchain. Stellar was launched in 2014, the platform was intended to enhance the current financial system, rather than undermine or replace the one already in place. The co-founder of RippleNet, Jed McCaleb, founded the Stellar network, as a non-profit organisation, which was first named the Stellar Development Foundation. The Stellar platform is a peer-to-peer (P2P) decentralised network that is borderless, powerful and limitless. Stellars platform makes it possible to send, trade and create digital representations of all forms of money, such as dollars, pesos, bitcoin and more. The platform is designed to allow all the world's financial systems to work together on one single network. The Stellar network is designed for developers, the network has all the necessary tools needed to get a project up fast. Stellar's API and SDKs are available to help you transform the financial world. The network's currency connections could give even a small company the reach and power of an international bank. Stellars native digital currency Stellars native digital currency is the Lumen (XLM), users are required to acquire this currency in small amounts to use in making transactions and initialising accounts. Other than this fact, Stellar does not privilege any currency in particular. There are 24.85 billion XLM currently in circulation, a market capitalization of $3.325 billion and a maximum supply of 50 billion lumens. The Stellar platform maintains a high level of security, the XLM holders have to own at least one token in order to remain active on the platform. Lumens also offer protection against hackers by making microtransactions too expensive for hackers with no chance of profits, therefore Stellar is kept safe from serious threats. Advantages of the Stellar Platform Fast transaction speed: it is possible for around 2000 transactions to be processed each second, therefore, a maximum of 5 seconds is required to validate a transaction. The fast transaction speed of the platform makes Stellar an attractive tool when there is a need to make fast and secure transactions. Multi-currency support: it is possible to carry-out multi-currency transactions on the Stellar platform, to support this system Stellar makes use of an anchor system. The anchor system works by accepting any money as a deposit and a loan is issued in the desired currency. The system independently selects a profitable course. Extremely low transaction fees: unlike some other cryptocurrencies on the market, the Stellar payment platform is not designed to prioritise profits. It is possible to reduce the overall transaction fees thanks to the transaction speed and operating efficiency. Simplicity: the simplification of currency exchanges and the ease of use are benefits of the Stellar platform. Stellar is a decentralised and independent system. Stellars platform can be used in the following way With a few lines of code, users can create the following: Global Payment Apps: allow users to leverage the many currency-backed tokens that are already available on the Stellar network. Asset exchanges: users have access to Stellar’s built-in decentralised exchange for forex, cryptocurrencies or securities. Users can swap between tokens by using simple functions that are built into the protocol. Micropayment services: Stellar’s low, flat fees and fast transactions make it possible to make powerpayments of any size. Past, present and future prices In the past, Stellar has experienced many growth jumps, such as when Mercado Bitcoin announced his use of the platform. In general, it is clear that Stellar has shown price promise, however, like with most other cryptocurrencies, the XLM token does carry risk. The XLM hit a slow patch between 2019-2021. Since then the price of XLM has shown volatility. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, COMP does fall under this category. Some analysts believe that an investment in XLM can bring future passive incomes for investors. It is also believed that the price of XLM may see some strengthening going forward and join some of the other larger cryptocurrencies. It is expected that by 2026 the price could reach up to $0.34 per XLM. XLM Price Chart Sources: finance.yahoo.com, crypto-academy.org, stellar.org, coinmarketcap.org, gobankingrates.com, cryptonewsz.com
Crypto Market Capitalisation Decreased! Bitcoin Price Went Down, But Michael Novogratz Forecasts It May Amalgamate Between $20K And $30K

Crypto Market Capitalisation Decreased! Bitcoin Price Went Down, But Michael Novogratz Forecasts It May Amalgamate Between $20K And $30K

Alex Kuptsikevich Alex Kuptsikevich 10.08.2022 09:46
Market picture Bitcoin lost 3.8% on Tuesday, ending it at around $23.2K, and is developing a decline to $22.9 by Wednesday morning. Ethereum has lost 5.6% in the last 24 hours, to $1680. Top altcoins are down 2.5% (BNB) to 7.2% (Solana). Total crypto market capitalisation Total crypto market capitalisation, according to CoinMarketCap, fell 3.9% overnight to $1.08 trillion. The recovery in stock indices has choked, but even earlier and more dramatically, these changes have affected Bitcoin and the whole crypto market. Should the decline develop, investors and traders should pay close attention to the 21500 area, where the previous local lows are concentrated. A dip below that and a decisive return below the 50-day average could well be the start of a new wave of decline that could take the crypto market to new lows. At least, there might be a test of the June-July lows. News background According to CoinShares, net capital inflows into crypto funds slowed to $3m last week, with Ethereum accounting for the most investments at $16m. Funds investing in bitcoin lost $8.5m; those allowing shorting it faced $7.5m in outflows. Michael Novogratz, CEO of investment firm Galaxy Digital, expects bitcoin to consolidate in the $20,000-$30,000 range for a while. Circle has blocked 75K USDC on Tornado Cash mixer wallets, which have come under sanctions from the US Treasury. According to the agency, attackers have laundered cryptocurrency worth more than $7 billion since its inception in 2019, with about $0.5 billion linked to the North Korean hackers Lazarus Group. The Reserve Bank of Australia is working with the Digital Finance Corporate Research Centre (DFCRC) to launch a pilot project to explore options for the practical use of CBDC digital currency. El Salvador President Nayib Bukele said the legalisation of bitcoin last year contributed to significant growth in the country's tourism. Iran conducted its first import transaction worth $10 million paid in cryptocurrency, bypassing the global financial system restricted by US sanctions.
The Collapse Of The Silicon Valley Bank Weakened The Dollar And USD/JPY But Supported EUR/USD, AUD/USD, And GBP/USD

End Of Tornado Cash? Nvidia Stock Drops As Ethereum Merge Is Expected To Be Introduced Shortly

Saxo Bank Saxo Bank 10.08.2022 11:00
Summary:  The U.S. Department of Treasury has blacklisted the largest mixer on Ethereum used in hiding blockchain traces. On to companies, Coinbase and BlackRock have announced a partnership in trading and custody of Bitcoin, while Nvidia feels the heat of the upcoming Ethereum merge. U.S. Sanctioned Tornado Cash Yesterday, the U.S. Department of Treasury blacklisted every smart contract and address connected to Ethereum-based mixer Tornado Cash for its use in money laundering. The latter is a popular decentralized protocol used to hide the blockchain trace of Ether and Ethereum-based tokens. It has allegedly been used by North Korean state-backed hacking group Lazarus Group in a $615mn hack earlier this year, however, the protocol is also used by ordinary people wanting to interact on Ethereum with a higher degree of privacy. Elliptic, a blockchain analytics company, has estimated that over $1.5bn has been laundered through Tornado Cash out of a total amount of $7bn. The blacklisting bans American citizens alongside American entities such as exchanges from engaging with clients depositing funds from Tornado Cash. Since the protocol is fully decentralized, governments cannot disable the protocol itself. However, since many crypto users and exchanges are based in the US, the blacklisting might be enough to remove sufficient liquidity from the protocol for it to work properly. This was somewhat the case some hours after the announcement yesterday, as the issuer behind the second-largest stablecoin Circle froze every USDC in Tornado Cash’s smart contracts, meaning users are not able to transfer them out of Tornado Cash anymore. Coinbase and BlackRock announce partnership Coinbase announced a partnership with the world’s largest asset manager BlackRock last week. The partnership enables institutional clients of BlackRock to access Bitcoin brokerage and custody facilitated by Coinbase but handled through their existing portfolio management. Even though we are in a bear market it does genuinely not seem that institutions are shy to interact with crypto, as also both Morgan Stanley and Citigroup have announced positions concerning crypto in the past week to strengthen their internal crypto resources. On another note, Coinbase is set to announce its Q2 earnings later today. Nvidia stock drops. Ethereum got involved As Ethereum miners generated a record-high revenue of $16.5bn in 2021 by validating blocks on the network, there was an equal demand for GPUs utilized in mining operations. Nvidia has for years been the main supplier of GPUs to Ethereum miners. Although Nvidia does not directly state its revenue from providing GPUs to mainly Ethereum miners, it is anticipated that the company generates an appreciable part of its revenue from miners. However, that may soon come to an end, since the Ethereum merge is expected to happen sometime next month, completely taking miners off the equation. Since miners have known this for some time, it seems few acquire new equipment, as it will be challenging to break even in such a short period. It seems Nvidia felt this in its second quarter (ended 31st July). The company cut its expected revenue to $6.7bn from $8.1bn yesterday while simultaneously writing down its inventory by $1.3bn, mainly since the secondary market of GPUs has been flooded by cheap GPUs. If the merge occurs successfully in September, then the market of GPUs used in Ethereum mining will by default never exist again. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Souce: https://www.home.saxo/content/articles/cryptocurrencies/crypto-weekly-09082022
In The Coming Days Will Be The Final Consolidation Of Bitcoin

BTC/USD: Bitcoin Price May Feel Stronger After Soft Inflation Print

InstaForex Analysis InstaForex Analysis 10.08.2022 13:42
We’re seeing plenty of apprehension ahead of the US inflation report on Wednesday, with Asia in the red and Europe following suit. It’s impossible to get away from the fact that the inflation report has held the markets back this week. There’s clearly a desperate desire to be more optimistic about the outlook; that’s evident from the scale of the recovery already seen in equity markets despite there being seemingly little to celebrate. But the jobs report on Friday following on from the Fed commentary in the days running up to it has left investors fearing they’ve got carried away too soon and that data-dependency and aggressive tightening can go hand in hand. I don’t think it’s an exaggeration to say that today’s inflation number could set the tone for the markets for the rest of the month. A lower than expected number could be a major tailwind for the markets while anything around or above the June reading could trigger a big risk reversal in the markets as the debate shifts to 75 or 100 basis points, with 50 left in the rearview mirror. Encouraging inflation data from China China is one of the few countries without an inflation problem as was evident in today’s CPI and PPI numbers. The headline CPI fell a little short of expectations, with higher pork and vegetable prices largely behind the increase to 2.7%. Core inflation remains subdued as domestic demand remains soft following lockdowns this year that are weighing on activity and putting the growth target further out of reach. Lower fuel and commodity prices contributed to the sharper decline in the PPI number, keeping the pressure off the PBOC to tighten monetary policy and even leaving room for further easing. Momentum fades on approach to $25,000 Even bitcoin is looking a little nervy ahead of the inflation report. As odd as that sounds, bitcoin has shown itself to be very resilient of late, recovering quicker and seemingly not being as phased by setbacks. It will be interesting to see how it responds to any setback today or how well it capitalises on a favourable report. We have seen fading momentum in the run-up to $25,000 but a softer inflation number could be just the catalyst bitcoin needs to turn that around. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Nerves ahead of US inflation - MarketPulseMarketPulse
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Crypto: A Breakthrough!? Ethereum: What Is Merge? The Future Is Now?

Kucoin Blog Kucoin Blog 10.08.2022 14:20
Table of Contents: · What is the Merge? · When is the Merge happening? · Why does the Merge matter? · What is the impact of the Merge? · What might happen in the future? · Closing thoughts The Merge is the most significant upgrade in the history of Ethereum. On August 10, KuCoin launches the ‘ETH Merge Gold Rush’ event for the upgrade of Ethereum. In this event, users can know more about the latest Merge-related updates and get the best crypto earning opportunities during the Merge.   This ‘ETH Merge Gold Rush’ event includes the following core segments: · Learn more about the ETH Merge countdown and get the latest Merge news. · Convenient Spot/Futures trading that supports assets associated with Merge such as ETH, ETC, Matic, Op, etc. · Participate in ETH PoS mining for earnings. Staking promotions will be available soon, including ETH PoS mining and other staking products. · Join KuCoin communities to participate in Merge-related discussions.   For more details about this event, please visit here. Now, let’s get started with what ETH Merge is.   What is the Merge? Ethereum, the blockchain network that supports the second-largest cryptocurrency by market capitalization, is inching closer to implementing a significant upgrade. Dubbed the “Merge,” while this sounds grandiose and dramatic, in fact, it signifies an upgrade that will see Ethereum transition from a Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) model.  Specifically, the Merge will mark the joining of Ethereum’s execution layer, which runs on a PoW model, and the Beacon Chain, which is Ethereum’s consensus layer, which is based on a PoS model. The mainnet currently holds all Ethereum accounts, balances, and smart contracts.  On the other hand, the Beacon chain shipped separately from the mainnet, and it currently runs parallel to the mainnet. After the two layers merge, Ethereum will become a PoS network. As such, validator nodes will take over the role of generating blocks, replacing miners who use energy-intensive rigs.   When is the Merge Happening? The Merge is set to ship between Q3/Q4 2022. Ethereum developers are working with a soft deadline of September 19. However, this date could change depending on the success of the final testnet merge, which is dubbed ‘Goerli.’ Goerli is set for mid-August.   Why Does the Merge Matter? The Merge will introduce significant changes to the Ethereum network. For instance, the Merge will reduce Ethereum’s energy consumption by 99.95%, making the network eco-friendly and sustainable. Furthermore, considering ESG concerns have limited Ethereum’s adoption, the Merge will play a massive role in boosting the network’s adoption.  Additionally, the Merge will make Ethereum more scalable. At the moment, the Ethereum network handles around 30 transactions per second. Once the network transitions to a PoS consensus model, it will set the stage for the four additional phases. At their completion, the Ethereum blockchain will be able to process 100,000 transactions per second, according to co-founder Vitalik Buterin.  After the Merge, validators will secure the Ethereum network by staking ETH. Validators will get rewards from the network’s transaction fees. To prevent malicious activities, Ethereum will cut a portion of a validator’s stake ETH if they accept invalid blocks.  Moreover, the Merge will prepare Ethereum for sharding, splitting the network into small bits to increase transaction speeds and cut costs. This development will help Ethereum cement its position as the largest network for non-fungible tokens (NFTs) and decentralized finance (DeFi).   What is the Impact of the Merge? After the Merge, Ethereum might introduce triple halving. Specifically, the triple halving will reduce ETH’s supply by approximately 80% - 90%, which is almost equal to halving the Bitcoin system three times.  By transitioning to a PoS model, most ETH will go to staking, effectively minimizing the amount of ETH in the market.   What Might Happen in the Future? By upgrading to a PoS consensus model, Ethereum will address its energy-consumption issues, proving that an energy-efficient and sustainable blockchain can operate on a massive scale. Additionally, the network will eventually introduce upgrades that might introduce fast transactions and lower gas fees. These changes will likely attract more institutions and Web 3.0 projects to build on the network.  While a PoS model might introduce some level of centralization in Ethereum, the same model will lower the entry barrier for validators. The PoS model will only require validators to stake ETH and earn rewards. Users with low amounts of ETH can pool their tokens in a staking pool and earn block rewards. To this end, Ethereum is set to attract more users, making it more decentralized.   Closing Thoughts Ethereum’s transition to a PoS consensus model comes with numerous benefits. Post Merge, the network will allow ETH holders to stake their holdings and earn rewards by validating transactions. Additionally, the Merge will prepare Ethereum for future upgrades that might make the network more scalable, secure, and sustainable.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>>     Source: https://www.kucoin.com/pl/blog/everything-you-need-to-know-about-the-ethereum-merge?title=Everything%20You%20Need%20to%20Know%20About%20the%20Ethereum%20Merge
Crude Oil Prices Continue to Rise Amid Tight Supply and Economic Uncertainty

Crypto: Oh My! Look How Many US Dollars (USD) Has Tornado Cash Laundered!

Conotoxia Comments Conotoxia Comments 11.08.2022 09:11
On Monday, U.S. Secretary of State Antony Blinken tweeted about sanctioning the Tornado Cash cryptocurrency, which he called a "state-sponsored hacking group, used by the DPRK to launder money." The Secretary's statement went viral due to his bold allegations about the project's founders. Just a little over an hour later, he deleted the post, replacing it with the more reserved information that Tornado Cash was simply "used by DPRK-linked hacking groups." Blinken made no reference in the new entry to the one removed an hour earlier. The posts were related to an ongoing investigation by the Treasury Department's Office of Foreign Asset Control (OFAC) into money laundering. The token in question was blacklisted, providing the ability to cover up traces of cryptocurrency transfers and thus increase the level of privacy of transactions. Currently, 40 Ethereum and USDC addresses linked to the project's activities have been identified. According to the agency, the Tornado Cash solution was used by the Lazarus Group, a DPRK hacking group that moved out $625 million in cryptocurrencies stolen in hacking attacks in recent years. The project has been blacklisted by the US Treasury. This means a complete ban on the use of the token and related addresses by Americans. Blender.io, another project that enhances the privacy of transactions, was also shut off earlier. "Tornado Cash has been the go-to mixer for cybercriminals looking to launder the proceeds of crime, as well as helping to enable hackers, including those currently under U.S. sanctions, to launder the proceeds of their cybercrimes by covering up the origin and transfer of this illicit virtual currency" - The senior Treasury official said. He then added, "Since its creation back in 2019, Tornado Cash has reportedly laundered more than $7 billion worth of virtual currency,". Tornado Cash (TORN) has lost nearly 28% in the last 24 hours, according to CoinGecko. Hackers return funds and recommend more caution for Nomad Less than a month after ignoring warnings from audit firm Quantstamp, an exploit in the Nomad protocol was discovered and used to move out more than $190 million. The entire operation took less than three hours. White hat hackers quickly joined the thieves in an effort to seize as much of the money as possible and protect users' funds from real criminals. Within hours of publishing a wallet to which Nomad accepts the return of stolen funds, the white hacking group returned $32.6 million of the stolen $190 million. Most of the funds were denominated in USD Coin (USDC), Tether (USDT) and Frax. Unfortunately, it is still unclear how much money they managed to protect from the stolen 190 million. Nomad expects further returns. Bitcoin, along with Ethereum, are deteriorating after recent increases. Some tokens are experiencing minimal losses. On the Conotoxia MT5 platform, BTC is losing 1.5% and ETH is losing 1.9% as of 11:30 GMT+3.     RafaÅ‚ Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Tornado Cash was banned for facilitating money laundering. Hackers return more than $32 million to Nomad Bridge (conotoxia.com)
Tokyo Raises Concerns Over Yen's Depreciation, Considers Intervention

Is The Rise Possible!? BTC/USD: What Can We Expect From Bitcoin (BTC) Price?

InstaForex Analysis InstaForex Analysis 11.08.2022 10:35
Relevance up to 09:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The price of Bitcoin edged higher after retesting the near-term downside obstacles and it seems determined to approach and reach new highs. BTC/USD ignored strong resistance levels signaling more gains. It has increased by 8.60% from yesterday's low of 22,668 to 24,619 today's high. In the last 24 hours, bitcoin is up by 7.00% and by 6.43% in the previous reporting period. Technically, the cryptocurrency signaled that the downside could be over and that the price could develop a larger rebound. Bitcoin Strong Buyers!     As you can see on the H1 chart, Bitcoin retested 22,665 and the descending pitchfork's upper median line (uml) before resuming its leg higher. It has retested 23,511 as well and now it has managed to jump above the 24,280 historical level and above the R2 (24,318) signaling strong buyers and potential further growth. Consolidating above the broken upside obstacles, testing and retesting the broken levels could bring new long opportunities. BTC/USD Outlook! Breaking above 24,280 signals further growth towards the R3 (24,995) and up to the 25,401 static resistance. A minor consolidation above the R2 could bring new long opportunities. A larger growth could be activated after making a valid breakout through the 25,401 key level.   Read more: https://www.instaforex.eu/forex_analysis/288163
Crypto Dominance Structure Changes. (ETH) Ethereum Moves Market As The Merge Is Coming

Crypto Dominance Structure Changes. (ETH) Ethereum Moves Market As The Merge Is Coming

Alex Kuptsikevich Alex Kuptsikevich 11.08.2022 09:43
Bitcoin has added 7.4% to $24.6K in the last 24 hours. It's not the magnitude of the move that draws attention but rather the ability to rewrite previous local highs. Ethereum has gained 13% to $1900 in the same time frame. Top altcoins add between 4.7% (BNB) and 13.4% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, rose 7.4% to $1.16 trillion overnight. Bitcoin jumped on Wednesday, and stock indices on US inflation data showed a more robust cooling, fuelling speculation that the Fed will soon soften its tone. On Thursday morning, BTCUSD, after three weeks of unsuccessful attempts, managed to gain ground above $24K and quickly moved into the $24.5K area. These are the highest levels since mid-June when bitcoin literally crashed. Now up to $30K, there are no significant technical obstacles. On the other hand, the benchmark crypto pair is still moving within a moderate upward trend, with the upper boundary now at $25.5K. Moving within this range, BTCUSD will be at 30K only by October. Ethereum is showing much more resurgence right now. Expectations of an imminent switch to proof-of-stake are a significant market driver. As a result, ETHUSD has already recouped all losses since June, recovering to previous consolidation levels. Ether's dominance has recovered to 19.9%. The second most popular cryptocurrency has not had a sustainable share since 2017, but last year we saw a steady climb towards these levels due to the increased use of Ether in other projects. The next significant milestone for ETHUSD looks to be the $2300 area, where the 200-day moving average and the lows of the dips earlier in the year are concentrated. We also note the drop in the bitcoin dominance index to 40%. For the past five years, a dip under this mark has often been followed by aggressive profit-taking in altcoins, whether we are in bull or bear markets. In our case, it may not mean the impending collapse of altcoins but rather an acceleration of BTC's growth.
Crypto: How To Estimate A Risk And Take A Profit?

Crypto: Coinbase Going Through Tough Times! What Is Current Users' Attitude?

Conotoxia Comments Conotoxia Comments 11.08.2022 11:53
Coinbase, the world's second-largest cryptocurrency exchange by volume, with a 24-hour trading volume of nearly $2B yesterday alone, is going through a lot of trouble due to SEC investigations into the company's operations and alleged insider trading. Since the beginning of the year, its stock has fallen as much as 65%, likely due to a drop in trading volume, investor pessimism, historic declines in token prices, and mentioned investigations. "Q2 was a test of durability for crypto companies and a complex quarter overall. Dramatic market movements shifted user behaviour and trading volume, which impacted transaction revenue, but also highlighted the strength of our risk management program," Coinbase said. COIN reported $217 billion in sales for the quarter, losing nearly $100 billion compared to Q1 2022 ($309 billion). Revenue also fell to 803 million against Wall Street's forecast of $873.8 million from more than $2 billion a year ago. The drop in stock prices was not saved by a beat in earnings per share (EPS) expectations, which came in at -$0.87 vs. the expected -$1.23. The stock market's shares buckled, falling 10.5% during yesterday's session. Coinbase's results may have confirmed concerns about the current situation of crypto companies and how the crash contributed to the loss of project revenues and lowered expectations for growth. The situation was commented on by Morningstar equity analyst Michael Miller, who said in an interview with Reuters: "Coinbase has not seen a mass migration from its platform [...], its users are becoming more passive in investing in cryptocurrencies." There seems to be a lot of truth in this. Investors with significant unrealized losses tend to be more willing to wait out a difficult period and limit their activity, while new buyers are likely to be among those who have been waiting for token prices to fall for a long time and have a long-term investment perspective, so they don't trade as actively. It's hard to determine how much of an impact Coinbase's poor performance had on the cryptocurrency market. That's because it coincided with a local correction. What we do know, however, is that the listings of tokens such as BNB (owned by the Binance exchange) and KCS (KuCoin exchange) saw the biggest declines and daily minimums after the COIN results were announced. Currently, Coinbase seems to be distancing itself from competitors such as FTX, Binance, Kraken and KuCoin, which are maintaining a higher growth rate along with a high level of service. Binance alone dwarfs the rest with nearly 21 million visits in the last week and more trading volume than the top 5 competitors in this category combined. Today, the broad crypto market is seeing slight declines. Bitcoin and Ethereum at 12:00 GMT+3 are losing 0.5% and 0.05% respectively, developing a local consolidation. ZCash, which was designed on the basis of Bitcoin, is falling the hardest. It has had several technological solutions added to it, notably affecting a higher level of security and anonymity of transactions. The token has developed strong momentum in recent days, gaining about 18% on the Conotoxia MT5 platform since the beginning of August, followed by a correction today, with (12:00 GMT+3 ) ZCash falling about 8%.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Coinbase shares slide after second-quarter revenue decline. Tokens in consolidation (conotoxia.com)
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Tornado Cash Sanctioned, Solana Hot Wallets Were Attacked. First Signs Of Potential Establishment Of Uniswap Foundation

Crypto.com Accelerate the... Crypto.com Accelerate the... 11.08.2022 13:00
U.S. Treasury Department sanctions Tornado Cash. Thousands of Solana hot wallets compromised after private keys were exploited in Slope mobile wallet. Uniswap proposes to form a Uniswap Foundation. Weekly DeFi Index This week’s price, volume, and volatility indices were negative at -1.17%, -38.88%, and -52.65%, respectively.     DeFi Index Tokens     News Highlight The U.S. Treasury Department sanctioned Tornado Cash, an Ethereum coin mixer. Tornado Cash was accused of being used to launder more than US$7 billion worth of virtual currency since its creation in 2019. In the announcement, the regulatory body blacklists the Tornado Cash website and a list of Ethereum addresses, banning American citizens from using the tool or transacting with these addresses.  Over 8,000 Solana hot wallets, including Phantom, Slope, and TrustWallet, were compromised last Wednesday and nearly $4.5 million worth of tokens have been drained. Solana developers said they have identified the root cause of the hack: compromised private keys “created, imported, or used in Slope mobile wallet applications”. Uniswap raised a proposal to form a Uniswap Foundation based in the United States, which will cost US$74 million. The proposal gained mixed feedback from the community. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer 2 Projects Overall, the L2 market saw +12.16% growth over the past week. Optimisitic rollup and zero-knowledge rollup projects gained +19.34% and +1.01%, respectively, while Ethereum’s TVL rose +6.08%.     TVL of optimistic rollups continued to surge and was over US$4.7 billion. Again, Optimism led the growth (+40.58%) in TVL, followed by Metis Andromeda (+20.14%) during the week.     TVL of ZK rollups was stable in the last week with over US$859 million. ZKSwap was under the spotlight as its TVL of version 2.0 and version 1.0 surged +47.23% and +16.25%, respectively.     Further Reading Vitalik: Centralized USDC could decide the future of contentious ETH hard forks Lido community passes second proposal for token sale to Dragonfly Capital White hat hackers have returned $32.6M worth of tokens to Nomad bridge Ethereum users flock to Optimism for Aave liquidity mining launch Near Potocol discloses wallet breach that may have exposed private keys Author Research and Insights Team Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 (Week 31, 03/08/2022 – 09/08/2022) (crypto.com)
Eurozone PMI Shows Limited Improvement Amid Lingering Contraction Concerns in September

Ethereum: What Did Help ETH/USD To rise? We're Talking About A 12% Rise!

InstaForex Analysis InstaForex Analysis 11.08.2022 13:14
Relevance up to 09:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. As expected, Ethereum became the primary beneficiary of fundamental positive news. The cryptocurrency took advantage of the general euphoria and rose by 12% over the past day. The weekly increase in ETH/USD quotes reached 15.5%. The main altcoin finally consolidated above the $1800 level and rapidly jumped to the $1900 mark. It is likely that if the current bullish momentum continues, ETH will be able to reach the $2000 level for the first time since May 2022.     Ethereum continues its upward movement, taking advantage of positive inflation statistics, which fell below expectations to 8.5%. A gradual decrease in inflation in annual terms indicates the likelihood of curtailing aggressive monetary policy as early as autumn 2022. It is a positive signal for the cryptocurrency market since, after tightening, a pullback to neutral positions will begin. This process will facilitate access to liquidity and, accordingly, will help the birth of a bullish rally. However, in most cases, the main benefit from monetary easing is given to Bitcoin.     In the current market situation, everything has changed dramatically. Bitcoin is fading into the background, and Ethereum is becoming the main driving force behind the cryptocurrency market. The main altcoin has been the main investment target of large funds over the past months. This is due to the transition of the coin to the PoS algorithm and the positive changes that will follow. In other words, Ethereum has fundamental growth reasons that provide continued investment interest. Bitcoin cannot boast of this, and therefore grows exclusively on positive fundamental news.     The growing interest in Ethereum can be seen in the level of Bitcoin dominance in the market. The indicator is in a downward trend, indicating the interest of investors in other digital coins. The indicator began to seriously decline at the end of July and peaked in August. During this period, the informational hype around the transition of Ethereum to PoS reached its maximum. Over the same period, the level of ETH dominance has grown significantly and, as of August 11, reached 20.24%. This is direct evidence of the flow of investments from BTC to ETH.     It also indirectly indicates that the main altcoin will become the primary investment target of the market in the coming weeks. Ethereum received macroeconomic positives in addition to the upcoming update, which will also affect the bullish movement of the cryptocurrency price. The largest issuers of stablecoins, Tether and Circle, have declared full support for the transition of ETH to the Proof-of-Stake protocol. There are also several testnet mergers planned for August, including the successful migration of Goerli to PoS, which should reinforce the fundamental positive for ETH.     In technical terms, the asset has again reached the overbought level. The stochastic oscillator formed and realized a bullish crossover, due to which the indicator reached the level of 100. The relative strength index came close to 80 and maintains an upward direction, which indicates an increase in buying activity. Ethereum entered a strong resistance area for the first time, and you should not expect its bullish breakdown on the first try. Most likely, we are waiting for a local correction and a short period of consolidation before a full-fledged assault on $2000.   Read more: https://www.instaforex.eu/forex_analysis/318679
ByBit talks trading bots. What are they? How can they help?

Crypto: As Expected! Bitcoin Price Rose After The Release Of The US CPI!

InstaForex Analysis InstaForex Analysis 11.08.2022 13:37
Relevance up to 10:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin reacted to the CPI print by climbing 5.1% to $24,180 After the US Consumer Price Index (CPI) rose 8.5% year-on-year, cryptocurrency prices surged. While inflation has remained at one of its highest levels in decades, the actual data came in below the expected 8.7%, prompting traders to return to the markets. Bitcoin reacted to the CPI print by climbing 5.1% to $24,180, where it hit a solid bearish resistance wall that remains the last significant barrier ahead of $28,000. If today it closes higher, it will go further. Traders breathed a sigh of relief after the release, which came in 0.2% below expectations as it could potentially lead to a less aggressive Fed rate hike schedule. Federal Open Market Committee (FOMC) At the last two meetings of the Federal Open Market Committee (FOMC), the central bank has raised interest rates by 75 basis points each time, and yesterday's decline in the CPI compared to the previous month was the first evidence that the actions taken by the central bank are beginning to bear fruit. The positive reaction to the lower-than-expected CPI was immediate, with prices in the cryptocurrency market and traditional markets rising following the news. And growth will likely continue, at least next week. What's Ahead Of Bitcoin? What will happen next with Bitcoin, the cryptocurrency market, and global financial markets, in general, largely depends on the further actions of the Fed. In the broader altcoin market, there has been an even more pronounced reaction following the release of the CPI yesterday. Several of the top 200 coins posted double-digit gains, while the top altcoin, Ether (ETH), gained almost 9%. Crypto Market Capitalisation The total market capitalization of cryptocurrencies is currently at $1.14 trillion, and the Bitcoin dominance rate is 40.3%.   Read more: https://www.instaforex.eu/forex_analysis/318692
EURUSD Short-Term Trend: Bearish Channel Persists with Potential Bottom Ahead

S&P 500 Gained 2.1% Yesterday, Bitcoin Increased By Over 3%, Nasdaq Added 2.9% - Yesterday's US CPI Print Helped Various Assets

Daniel Kostecki Daniel Kostecki 11.08.2022 14:11
Yesterday, the US inflation report was released, which came in at 8.5% in July. The market did not expect such a large drop, estimating a level of 8.7% before the data was released. The stock markets reacted positively, and the major equity indexes rose significantly. The S&P 500 gained more than 2.1% during yesterday's session and the Nasdaq almost 2.9%. Bitcoin And Ethereum Cryptocurrencies, however, reacted most noticeably - on the Conotoxia MT5 platform, Bitcoin gained around 3.3% yesterday. And today, it continues its rise, breaking through the local peak of $2,485 on 30 August 2022. At 11.30 am GMT+3, the price of BTC is $24,471. The ETH price has risen even more strongly after a surprisingly low inflation reading. Ethereum gained more than 8.5% yesterday, and at 11.30 GMT+3, it is already up more than 2.3%. The token already costs $1,887 - its highest recorded level since 6 June this year. Reaction The market's reaction has a lot to do with expectations of interest rate hikes, which fell after the US inflation reading. However, it is still a long way from calling it a permanent decline. Inflation is still at its highest level in decades and the economy is operating in an environment of negative real interest rates. According to CME Group data, the Federal Reserve (Fed) is likely to push rates even higher. Currently, the Fed Funds Rate is at just 2.5 pp, the level before the Covid pandemic. The CME Group estimates that we will still reach the 3.25 pp level this year, and peak in 2023 at 3.5 pp. However, as for the 2023 projections. The Federal Open Market Committee (FOMC), which decides them, is already much less unanimous and a lot may still depend on the information coming out of the economy. US Economy - Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession Information on its state in the US is not pleasing. Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession. The labour market, which is surprisingly strong at the moment, is reacting last and is likely to become further evidence of a crisis soon. The cryptocurrency market has never been in such a severe recession, so it is hard to determine exactly how it will behave. For now, the data shows a relatively high level of correlation between it and the stock market. This is not good news, as the latter almost always loses in a crash. Polygon (MATIC) Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is a protocol for building Ethereum-compatible blockchains and decentralised applications (DApps). Polygon is also referred to as a 2nd level (2nd level) solution to help Ethereum to scale faster, by increasing the efficiency of the network. On Wednesday, Polygon shared data on user growth. Their total number in July was 11,800, gaining 47.5% since March and up 400% year-to-date. Interestingly, according to the project, "74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum,". This shows a very high level of confidence in the new technology, which can be the new foundation for the development of DApps. Since the local low on 19 July this year. MATIC has risen almost 172%. Trading on CFDs is provided by Conotoxia Ltd. (CySEC no. 336/17). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Bitcoin Is Showing The Potential For The Further Downside Rotation

Bitcoin Like Phoenix!? Crypto Community Can Breathe A Sigh Of Relief

Craig Erlam Craig Erlam 11.08.2022 14:48
Investors are certainly in a more upbeat mood as the relief from the US inflation data ripples through the markets. Positive surprises have been hard to come by on the inflation front this year and yesterday’s report was very much welcomed with open arms. While we shouldn’t get too carried away by the data, with headline inflation still running at 8.5% and core 5.9%, it’s certainly a start and one we’ve waited a long time for. Fed policymakers remain keen to stress that the tightening cycle is far from done and a policy u-turn early next year is highly unlikely. Once again, the markets are at odds with the Fed’s assessment on the outlook for interest rates but this time in such a way that could undermine its efforts so you can understand their concerns. I expect we’ll continue to see policymakers unsuccessfully push back against market expectations in the coming weeks while further driving home the message that data dependency works both ways. That said, the inflation report has further fueled the optimism already apparent in the markets and could set the tone for the rest of the summer. PBOC signals no further easing Unlike many other central banks, the PBOC has the scope to tread more carefully and continue to support the economy as it contends with lockdowns amid spikes in Covid cases. The country’s zero-Covid policy is a huge economic headwind and proving to be a drain on domestic demand. The PBOC has made clear in its quarterly monetary policy report though that it doesn’t want to find itself in the same position as many other countries right now. With inflation close to 3%, further easing via RRR or interest rates looks unlikely for the foreseeable future. Cautious targeted support looks the likely path forward as the central bank guards against inflation risks, despite the data yesterday surprising to the downside. Singapore trims growth forecasts A surprise contraction in the second quarter has forced Singapore to trim its full-year growth forecast range from 3-5% to 3-4% as the economy contends with a global slowdown, to which the country is particularly exposed, and Covid-related uncertainty in China. While the MAS has indicated monetary policy is appropriate after tightenings this year, inflation remains high so further pressures on this front may add to the headwinds for the economy. Where’s the momentum? Bitcoin took the inflation news very well and it continues to do so. Slower tightening needs and improved risk appetite is music to the ears of the crypto community who will be more confident that the worst is behind it than they’ve been at any point this year. Whether that means stellar gains lie ahead is another thing. The price hit a new two-month high today but I’m still not seeing the momentum I would expect and want. That may change of course and a break of $25,000 could bring that but we still appear to be seeing some apprehension that may hold it back in the near term. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Source: Welcome relief
Global Markets Shaken as Yields Soar: Dollar Surges, Stocks Slump, and Gold Holds Ground Amid Debt Concerns and Rate Hike Expectations

Boom! Ethereum Blows Up The Market!? Bitcoin Speeds Up! Crypto News

Conotoxia Comments Conotoxia Comments 12.08.2022 09:50
US Inflation Yesterday, the US inflation report was released, which came in at 8.5% in July. The market did not expect such a large drop, estimating a level of 8.7% before the data was released. The stock markets reacted positively and the major equity indexes rose significantly. The S&P 500 gained more than 2.1% during yesterday's session and the Nasdaq almost 2.9%. Crypto Cryptocurrencies, however, reacted most noticeably - on the Conotoxia MT5 platform, Bitcoin gained around 3.3% yesterday. And today, it continues its rise, breaking through the local peak of $2,485 on 30 August 2022. At 11.30 am GMT+3, the price of BTC is $24,471. The ETH price has risen even more strongly after a surprisingly low inflation reading. Ethereum gained more than 8.5% yesterday, and at 11.30 GMT+3, it is already up more than 2.3%. The token already costs $1,887 - its highest recorded level since 6 June this year.    What to expect? The market's reaction has a lot to do with expectations of interest rate hikes, which fell after the US inflation reading. However, it is still a long way from calling it a permanent decline. Inflation is still at its highest level in decades and the economy is operating in an environment of negative real interest rates.   According to CME Group data, the Federal Reserve (Fed) is likely to push rates even higher. Currently, the Fed Funds Rate is at just 2.5 pp, the level before the Covid pandemic. The CME Group estimates that we will still reach the 3.25 pp level this year, and peak in 2023 at 3.5 pp. However, as for the 2023 projections. The Federal Open Market Committee (FOMC), which decides them, is already much less unanimous and a lot may still depend on the information coming out of the economy.   Information on its state in the US is not pleasing. Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession. The labour market, which is surprisingly strong at the moment, is reacting last and is likely to become further evidence of a crisis soon.   The cryptocurrency market has never been in such a severe recession, so it is hard to determine exactly how it will behave. For now, the data shows a relatively high level of correlation between it and the stock market. This is not good news, as the latter almost always loses in a crash.   Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is a protocol for building Ethereum-compatible blockchains and decentralised applications (DApps). Polygon is also referred to as a 2nd level (2nd level) solution to help Ethereum to scale faster, by increasing the efficiency of the network.    On Wednesday, Polygon shared data on user growth. Their total number in July was 11,800, gaining 47.5% since March and up 400% year-to-date. Interestingly, according to the project, "74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum,". This shows a very high level of confidence in the new technology, which can be the new foundation for the development of DApps. Since the local low on 19 July this year. MATIC has risen almost 172%.  Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service)   Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Crypto soars after the low inflation reading. Polygon grows rapidly, gaining 400% users
📈 Tech Giants Soar, 💵 Dollar Plummets! Disney-Charter Truce, Wall Street's AI Warning!

Crypto Market News: Coinbase Is Being Investigated! Ethereum (ETH) Is Getting Closer And Closer To Proof-Of-Stake!

Alex Kuptsikevich Alex Kuptsikevich 12.08.2022 09:41
Market picture Bitcoin rose close to $25K on Thursday but failed to hold on to those heights, pulling back precisely to $24K on Friday morning and losing 2.4% overnight. Ethereum continues to outperform the market, losing 0.2% to $1900. Other top altcoins are losing between 1.5% (XRP, Dogecoin) and 3% (Polkadot). Crypto market capitalisation decreased Total crypto market capitalisation, according to CoinMarketCap, fell 1.4% to $1.15 trillion overnight. Bitcoin failed to accelerate its rise on Thursday, rewriting two-month highs but failing to hold on to them. This bullish indecision was probably linked to a similar pullback in US stock markets, where buyers are also very timid and unsure. Investors and traders should prepare themselves that the market will stick to such a pattern in the coming months, and the recovery trend will bear little resemblance to the FOMO-filled rallies rattling the crypto market. Instead, it will be a period of foundation work, during which the market, stripped of its easy money, will leave the most talented and passionate enthusiasts. They see cryptocurrencies as more than just easy money and hype. News background In this regard, many eyes are on Ethereum, where developers have announced the successful migration of the third and largest Goerli test network to the PoS algorithm. The next step will be the merger of the core network, scheduled for September. The world's largest investment firm, BlackRock, has launched its first bitcoin-based product targeting institutional clients. It sounds encouraging, but so far, it is difficult to isolate any net positive effect in quotes. At the same time, regulatory pressure on the industry is intensifying. Coinbase has reported that the US Securities and Exchange Commission (SEC) sought through the courts' information on listing the company's crypto-assets and proprietary products. The UN Conference on Trade and Development (UNCTAD) called on world governments to impose additional taxes on cryptocurrency transactions and restrict their advertising. The CFTC and SEC have proposed requiring significant cryptocurrency hedge funds with more than $500 million in assets under management to report risks associated with digital assets.
Wow! BTC May Visit The Land Of Milk And Honey! Could Bitcoin Reach $28K? According To TA...

Wow! BTC May Visit The Land Of Milk And Honey! Could Bitcoin Reach $28K? According To TA...

FXStreet News FXStreet News 12.08.2022 09:41
Bitcoin’s balance on exchanges drops to a four-year low, hinting at a bullish long-term outlook. Bitcoin price needs to break and keep above the 200-day SMA to affirm an impending move to $28,000. Bulls must defend the newly reclaimed $24,000 level to avert potential losses to $22,000. Bitcoin price has struggled to find a solid footing during this crypto winter. Support above $24,000 is becoming elusive amid frequent pullbacks. However, its overall technical picture points to a smooth ride to $28,000. Bitcoin price will need support from micro and fundamental factors to keep the uptrend intact. Bitcoin price regains momentum Bitcoin price is hunting for a way out of the bear market, and one sign it is having some success is the falling amount of BTCs on exchanges. On-chain data by Glassnode elucidates an exchange balance currently around 2,377,195 BTC, down from 2,652,488 BTC on January 1, 2022. Usually, a consistent drop in this metric suggests that investors prefer their coins in other wallets rather than on exchanges where they are more likely to be poised to sell them. It shows that prices will eventually turn around, which is a positive indicator for Bitcoin price. Bitcoin Balance On Exchanges The Moving Average Convergence Divergence (MACD) on the 12-hour chart has reinforced the Bitcoin price move above $24,000. Traders can squeeze in more gains as long as the bullish divergence formed by the 12-day Exponential Moving Average (EMA) and the 26-day EMA stays in place. BTC/USD 12-hour chart A break above the 200-day Simple Moving Average (SMA) at $25,257 will likely weaken the bears more, eliciting the fear of missing out (FOMO). If most of the buyers waiting on the sidelines heed the above buy signal, a breakout to $28,000 will be a matter of when. It will be safer to book early profits at $25,257 if the uncertainty of the bear market is considered. However, bullish traders could wait till $26,000, which is an inflection point likely to determine the approach to $28,000. On the flip side, a hefty buyer congestion zone is expected at $24,000. The ascending trend line will come in handy if declines soar. Fortifying this support is the 50-day SMA on the same 12-hour chart. Bitcoin IOMAP chart Bitcoin price will likely settle for the path with the least resistance, and according to IntoTheBlock’s IOMAP on-chain model, that’s the one heading north. The chart below reveals the presence of minor seller concentration areas to $28,000. On the contrary, robust support zones are in line to cushion Bitcoin price from plunging below $24,000.
Sticky US Inflation Expected to Maintain Dollar Strength Ahead of FOMC Meeting

Flow Token Grew 44%! Vitalik Buterin Tweets How To Anonymise NFT Using

Crypto.com Accelerate the... Crypto.com Accelerate the... 12.08.2022 12:15
Meta integrates with Flow, rolling out Instagram’s NFT feature in 100 countries. Vitalik Buterin proposes a new privacy solution for NFT ownership. Axie Infinity looks to double down in South Korea. AUG 12, 2022 Key Takeaways Minted, the multi-chain NFT platform across Cronos and Ethereum incubated by Cronos Labs, launched on Thursday. It also announced its partnership with Crypto.com NFT: Every collection launched on Crypto.com NFT and minted on Cronos will also be available for secondary trading on Minted. Tech conglomerate Meta integrates with Flow blockchain and rolls out its Instagram NFT support feature in 100 countries, allowing collectors to display their verified Flow-minted NFTs in the photo-sharing app. Following the announcement, FLOW token soared by almost 44%. Ethereum Co-founder Vitalik Buterin proposes in a tweet a new way to stealth addresses for anonymous NFT ownership and transactions. This was in response to Ethereum researcher Anton Wahrstätter’s fresh proposal, and suggests a “much lighter-weight” solution on how to hide the identities of NFT owners without the need for Merkle trees or zk-SNARKs. Axie Infinity plans to expand and “double down” in South Korea, a market the company considers to be one of its most important. Sky Mavis Co-founder Jeffrey Zerlin announced this during the recent Korean Blockchain Week event, and in spite of a major blanket ban on P2E games in the country in December 2021. X2Y2 recorded a -6% decrease in sales and a +129% increase in transactions. Meanwhile, OpenSea‘s sales were positive at +32%, and its transaction count also increased +27%. The total market cap for GameFi tokens now stands at US$10.83 billion, up +4.6% from last week. Crypto.com NFT in the Spotlight Crypto.com NFT recently launched a new feature that lets users browse and buy LooksRare listings directly from the platform. On top of this, rarity scores were added for all Crypto.org Chain collections, and the platform is now also available in 17 languages. Visit the Crypto.com Blog for more updates.  “Kaiju Legends” is a colourful multiverse where art, story, toys, and gaming come together. Created by illustrator Jordy te Braak and game developer Roel Weber, it’s a community-driven NFT project that will feature a multiplayer P2E game, a native token, and exclusive toys and merchandise. The first wave is a collection of 7,777 algorithmically-generated collectibles with over 500 individual traits. Christian Whiticar’s new drop, “OKTṒPOUS”, is a fresh take on fine art. Using spellbinding loops, he tastefully captures the essence of the octopus. With an imaginative mind and years of work, Whiticar brings “OKTṒPOUS” to life, hypnotising the viewer. This will be the artist’s fourth drop in a series of sold-out collections in collaboration with Crypto.com. NFT Highlights Okay Bears to airdrop NFTs attached with actual gold Fractional NFT markets slide 76% in value in 7 months, diced-up DOGE NFT still leads the pack ApeCoin deal with fashion giant Gucci boosts Bored Ape Yacht Club token APE Sudoswap, a decentralised NFT marketplace hit all-time high daily trade volumes yesterday at ~900 ETH reNFT partners with Unlockd to bridge tradFi with NFT rentals CryptoDickbutts Ethereum NFTs surge 690% in daily sales volume NFT global sales hit 2022 low in July, sinking more than $4 billion GameFi Highlights Blockchain Games Report #6: Blockchain games are the least affected by the economic certainty STEPN launches GMT earning plans VisionsDao exits Stealth Mode and Presents a Modular Stack for GameFi Game on for Bybit-backed GameFi platform, Yeeha Games Polygon, Neowiz join forces to build new Web3 gaming platform Intella X NFT Transaction Benchmark     The following chart shows selected top NFTs and their historical floor prices. Top Collections The following table shows select top artists (by sales volume on each platform) and a sample of their art. PlatformArtistSales Volume (USD)Sample Crypto.com NFT Loaded Lions $300,700 Magic Eden Vandals $743,400 OpenSea CryptoPunks $8,364,160 GameFi Top Gainers & Losers     *Gaming Infrastructure tokens: ENJ, FLOW, WAXP, UOS, MBOX, DAWN, GALA, IMX*Gaming Utility tokens: AXS, MANA, SAND, ALICE, ILV, ATLAS, POLIS, GODS, GMT, DAR, AURY, APE, PYR*Gaming Guild tokens: YGG, MC, UNIX, GGG, AGV Top Games Metrics     * Week-on-Week (WoW) % change is calculated based on the differences between two consecutive seven-day periods* Users refer to the number of unique wallet addresses interacting with the dApp’s smart contracts* Weekly Volume refers to the total amount of incoming value to the dApp’s smart contracts during the seven-day period* Weekly Transactions refer to the no. of transactions made on the dApp’s smart contracts during the seven-day period* Stickiness refers to the ratio of daily active users (DAU) to monthly active users (MAU). A high stickiness means users consistently return to the dApp.* Weekly volume using Splinterlands data is approx US$424K.* Alien Worlds, Splinterlands, MOBOX, Sunflower Land, Pegaxy, SecondLive, Axie Infinity, DeFi Kingdoms data from DappRadar* STEPN data from Dune Analytics Daily Gamers by Blockchain Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES GAMEFI NFT Share with Friends Source: NFT & GameFi (Week 31, 05/08/2022 – 11/08/2022)
The Ethereum Has Located Just Above The Key Short-Term Technical Support

ETH Steals The Show! Ethereum Price (ETH/USD) Gradually Moves To $2K Level. BlackRock Capital Has Started A BTC Fund!

InstaForex Analysis InstaForex Analysis 12.08.2022 14:18
Relevance up to 10:00 2022-08-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is getting closer to the key resistance level of $2,000 every day. It is important to reach this psychological level during the ongoing uptrend. Institutional investors add fuel to the growth. Their inflow has increased significantly amid the transition of ETH to the Proof-of-Stake algorithm and the recent news.     The ETH/USD pair has fixed above $1,800 and formed a strong support area near that level. After forming the bullish engulfing pattern on August 10, the asset dashed to the level of $1,950 but rolled back because of the bearish activity. As a result, bulls were forced to retreat and the candlestick acquired a long upper shadow. Nevertheless, ETH is holding above $1,850, and as long as this level is not broken through, the asset may reach the area of $1,900-$2,000.     Eventually, ETH formed a bullish large-scale cup-and-handle pattern. This pattern may drag the price to the area of $2,700-$2,800. Taking into account the presence of the fundamental positive background and the successful mergers of the test ether networks, it is likely that the cup and handle pattern will be worked out by the middle of September. With this in mind, we can conclude that it is Ethereum that will be the main driving force of the crypto market during the next few months.     As for the technical picture, the asset started a consolidation after failing to touch the area of $1,950-$2,000. The RSI is moving near 70, indicating high buying activity. However, after testing 70, the metric has flattened. The stochastic oscillator managed to break through the level of 70 and enter the overbought zone. This means the asset is overbought and this state will increase with the positive sentiment in the market. The MACD indicator has gained an upward direction after a long flat period. As a whole, from the technical point of view, ether demonstrates the demand but prepares for a correction.     Most likely, this is where the market will face the first full-fledged correction due to the long upward movement. On the weekly chart, the ETH/USD pair is likely to close the sixth bullish week. If we compare it to the cryptocurrency's recent uptrends, we see that for the most part, the altcoin goes for a correction after forming six or seven green candlesticks in a row. Ethereum is close to the sixth one and we are likely to see a correction already next week.     Dependence on Bitcoin may hamper the cryptocurrency's uptrend. In recent months, the level of BTC dominance was falling, while ETH, on the contrary, was growing. Mostly, it was due to the Fed policy and the presence of fundamental reasons for the growth of ether. It is likely that soon the situation will change since the rate of inflation began to fall.     Investments in BTC will gradually begin to increase, which will be a deterrent to the growth of ETH. Among the latest news related to these processes is the announcement of the BlackRock Capital fund. The largest $10 trillion asset management company has launched a new BTC fund for its clients. In the medium to long term, this bodes well for a significant increase in institutional investments in Bitcoin.     All of these factors can negatively contribute to the future growth of Ethereum, but they have no fundamental effect. With this in mind, Ethereum is very likely to remain the main cryptocurrency in the coming months. However, in the short term, we should expect a correction, which the altcoin needs after a prolonged six-week rally.   Read more: https://www.instaforex.eu/forex_analysis/318802
An Investigation Against Terraform Labs In Singapore

When Is The Ethereum Merge Introduced? This Update Is A Crypto Market Changer!

Daniel Kostecki Daniel Kostecki 12.08.2022 14:58
How will the upcoming Ethereum Merge affect linked tokens?  After long years of preparation, Ethereum will soon become a token operating fully on the Proof-of-stake (PoS) blockchain. So far, no delays are expected for the Merge, which is scheduled for 19 September. In addition to ETH, many other tokens are gaining in utility and price through the upcoming transition, which will enable them to be more widely and quickly adopted. Ethereum's plan is to replace ETH miners with validators, a kind of 'node' of the proof-of-stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60600. Lido Dao  An important part of this network is to be the Lido DAO, which is the main project offering staking services within Merge. So far, Lido has funded ETH 2.0 with approximately 4.15 million ETH. Since the local bottom on 18 June 2022. LDO has gained almost 530%.    Source: Glassnode Accounting for almost half of the staking on ETH, the Lido is an important part of the chain with great growth potential if the trend in this service adoption continues. However, currently after surging 500%, the price may be too high and a great deal of caution is advised for bulls.  Ethereum Classic (ETC) Despite the transformation, Ethereum Classic (ETC) is still an important part of the crypto scene. The token was created as a result of a split of the Ethereum blockchain in 2016 and has most of the functionality of the current ETH, but is slower in handling transfers and less flexible in creating DApps. However, it still plays a significant role and is considered by traditionalists to be a combination of the best features of Bitcoin and ETH.  The token through its reliance on mining provides a natural refuge for miners who will be excluded by the Ethereum blockchain change. This is probably why it has gained more than 215% in recent weeks since its local low on 14 July.  The influx of miners is bound to have an impact on the increased supply of ETC in the short to medium term, which typically drives the price down. However, with a maximum of 210.7 million coins to be mined, ETC is deflationary in nature, and the market seems to be pricing that increased mining will translate into a faster increase in the token's price due to limited future supply. ETC, like BTC, mainly has been used as a store of value. Merge will have an impact on the entire crypto world. It surpasses the ETH split of 2016 by its scale and points to new areas such as proof-of-stake, energy efficiency and lower commissions. The transformation in addition to the above-mentioned LDO, ETC affects most ETH-related projects giving some new significance.   
Binance Academy summarise year 2022 featuring The Merge, FTX and more

5 Cryptocurrencies To Keep A Watch On: AAVE (AAVE), Balancer (BAL), Compound (COMP), Numeraire (NMR), Gnosis (GNO)

Rebecca Duthie Rebecca Duthie 12.08.2022 17:04
Summary: A summary of AAVE, BAL, COMP, NMR, OKEx. Borrowing and lending, Interest rate protocol, automated market makers. Proof of work, proof of stake, proof-of-history, delayed proof-of-work. AAVE Platform Aave is a decentralised finance (DeFi) protocol that allows people to both borrow and lend cryptocurrencies. Lenders are able to earn interest through the depositing of digital assets into liquidity pools that are specially created. Borrowers are able to use their cryptocurrency as collateral to take out a flash loan by using this liquidity. Aave has several unique selling points in comparison to its competitors in an increasingly crowded market. During the DeFi craze in the summer of 2020, AAVe was one of the bigger projects in terms of the total amount of value that was locked into its protocol. The Aave protocol allows its users to lend and borrow 20 cryptocurrencies, giving its users a larger amount of choice. One of Aave’s flagship products are “flash loans,” which have (interestingly) been billed as the first uncollateralized loan option in the DeFi space. The catch however is that they must be paid back in the same transaction. Read more: Altcoins: AAVE (AAVE) - What Is It? - A Deeper Look Into the AAVE (AAVE) Platform  The Balancer Platform Balancer is an automated market maker (AMM), it was developed on the Ethereum blockchain, it was launched in March of 2020. Balancer managed to raise a $3million seed round by Accomplice and Placeholder. The Balancer protocol functions as a weighted portfolio that is self-balancing, liquidity provider and price sensor. Balancer allows users to earn profits through its $BAL (its newly introduced token) by contributing to customisable liquidity pools. Security is an important priority for Balancer, hence, the protocol has been audited three times, fully by ConsenSys, OpenZeppelin and Trail of Bits. It is a trustless system as there are no admin keys or backdoors and the balancer pools are not upgradeable. Balancer does not support tokens that are non-conforming to the ERC-20 standard, even though they may be in use on some pools. Read more: Altcoins: Balancer (BAL) - What Is It? - A Deeper Look Into the Balancer (BAL) Platform  The Compound Platform Compound is an algorithmic, autonomous interest rate protocol that is built for developers, to unlock a universe of open financial applications. Compound is a decentralised finance (DeFi) lending protocol, the protocol allows its users to earn interest on their cryptocurrencies through depositing them into one of the many pools that are supported on the platform. When a platform user deposits tokens into one of the Compound pools, they receive c”Tokens” in return and these represent the users stake in the pool and can be used to redeem the underlying crypto that was initially deposited into the pool at any time. The idea is that over time the exchange rate for these underlying assets to the cTokens increases, thus users redeem their cTokens for more than the value they deposited them at - this is how the interest is distributed. The Compound Platform works through the use of Yield farming, Compound lending pools, Interest, decentralised governance, use of COMP, and cTokens. Read more: Altcoins: Compound (COMP) - What Is It? - A Deeper Look Into the Compound (COMP) Platform  The Numeraire Platform Numerai is a platform that is Ethereum-based that allows both data scientists and developers to experiment and create machine learning models, with more reliability. The main goal of the Numerai platform is to introduce decentralisation to the data science field and it aims to allow developers to compete in creating effective machine learning prediction models. Numeraire powers Numerai, Numerai is a San Francisco-based hedge fund that crowdsources artificial intelligence in order to make investments in major stock markets around the world. Numeraire (NMR) tokens holders are able to stake their tokens every week based on specific predictions. Successful predictions are further rewarded with more NMR. Numerai and the Numeraire token are unique due to their creation and the idea behind it. This is reportedly the first cryptocurrency to be released and created by a hedge fund. One of the Numeraire (NMR) tokens best advantages is that it is awarded to those data scientists whose models are top performers in the Numerai tournaments. Therefore, the NMR token’s value increases as the number of entries and tournament competitors increases. Read more: Altcoins: Numeraire (NMR) - What Is It? - A Deeper Look Into the Numeraire (NMR) Platform & Trading Based On AI-Generated Market Predictions  The Gnosis Platform Gnosis (GNO) is an open-source decentralised prediction market platform that is based on the Ethereum blockchain. The company's main objectives include but are not limited to; the standard for predictive assets, customised information search and Gnosis hopes to become the most effective tool for forecasting in the industry. Gnosis is a fully permissionless decentralised exchange, its ring trade feature allows trades that share liquidity to get maximum liquidity across all orders. Trade settlements happen every 5 minutes. The Gnosis protocol V2 batch auctions offer maximum extractable value integration and protection with liquidity sources in decentralised exchanges for best-priced trades. Read more: Altcoins: Gnosis (GNO) - What Is It? - A Deeper Look Into the Gnosis (GNO) Platform  Sources: fxmag.com
How could ongoing World Cup help Web3? Sorare, FIFA+ Collect and more explained

Altcoins: Footballcoin (XFC) - What Is It? - A Deeper Look Into the Footballcoin (XFC) Platform

Rebecca Duthie Rebecca Duthie 15.08.2022 18:05
Summary: What is The Footballcoin Platform and how does it work? Advantages of the Footballcoin exchange. Footballcoin’s past, present and future price positions. The Footballcoin platform A fantasy football game called FootballCoin makes use of its own cryptocurrency, called XFC coin. FootballCoin's major objective is to create a link between the fantasy football, cryptocurrency, and football fandoms, as well as to provide users of football managers and fantasy sports with the benefits of blockchain technology and cryptocurrencies. A digital asset called XFC (FootballCoin) serves as in-game money. On the FootballCoin BlockChain platform, a fixed and constrained amount of 1 billion XFC tokens are made available (a Bitcoin type algorithm blockchain). A game economy with no inflation is provided via a fixed and limited number of coin issuances. In the game, XFC can be used to pay the entry fee for competitions, to buy blockchain-based football player and stadium cards, and to trade on exchanges. For the objective of establishing football player and stadium cards as blockchain assets, XFC utilizes multi chain technology. The blockchain has a flexible mining method. Users from all corners of the globe are the focus of FootballCoin. The current market capitalisation for this coin is $3,067,116. There is a maximum supply of 1 billion XFC tokens, 374,660,526.03 are currently in circulation. Advantages of the Footballcoin platform Fantasy football platforms like Football coin give the chance to use NFT collectibles, One of the first online games to use blockchain technology, cryptocurrencies, and NFT collectible cards was FootballCoin, a DFS platform. During a contest week, a user who has one of these cards may use it in a variety of ways. They can add the card to their draft, rent it out, or sell it, among other options. Simply said, compared to their competitors, daily fantasy sports offer a more dynamic and competitive atmosphere. The Swap Benefit, As a result, the swap advantage will increase the economic participation of current XFC holders. They will have the biggest impact on the market's growth. But - to paraphrase a well-known superhero series - enormous power also comes with great responsibility. They must now behave properly in order to support the expansion of the FootballCoin economy and the game, which we are confident they will do. Conversion of the Footballcoins assets, Regardless of rank, the conversion maintains the same ratio for the player cards. For instance, if you already owned one Harry Kane card before the transfer, you would then have three Harry Kane cards, which you could then sell, trade, or use anyway you like. Owners of stadium cards will earn a great sum of XFC in addition to keeping their cards, as follows: stadium cards will receive 500,000 XFC if they are rated 5 stars. stadium cards with a 4 star rating will get 300,000 XFC. 3 star stadium cards will yield 150,000 XFC. You will receive 500,000 XFC, for instance, and keep your Santiago Bernabeu stadium card after the swap if you are the lucky owner of such card. Past, present and future prices of The Footballcoin network (XFC) The price of the Footballcoin (XFC) token hit its first price peak in late June of 2019, reaching a price of $0.011, thereafter the price began to fall consistently throughout the second half of 2019 and the whole of 2020. During the first quarter of 2021 XFC price increased sharply and reached an all time high price of $0.013. The price has since remained elevated but has dropped from its highest price. Since then the price has staggered in both the upward and downward directions, the crypto has seen much volatility, which is a normal trend for the volatile nature of the crypto market. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, XFC does fall under this category. According to some analysts, the future price of The Footballcoin network (XFC) could reach up to $0.036 by 2025 and could see a price of more than $0.24 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. XFC Price Chart Sources: finance.yahoo.com, coinmarketcap.com, footballcoin.io, priceprediction.net
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

Crypto: (ETH) Ethereum's Success. Better Than (BTC) Bitcoin?

Saxo Bank Saxo Bank 16.08.2022 09:01
Summary:  The last test of the highly anticipated Ethereum merge was a success. The real merge has now been scheduled for either the 15th or 16th of September. Whereas the latter was a success, Coinbase’s Q2 result was arguably not a success compared to the market’s consensus. The Ethereum merge has been scheduled following the final test On Thursday, the final public test of the highly anticipated Ethereum merge occurred successfully as the test network known as Görli successfully adopted a proof-of-stake framework. One day later, the developers of Ethereum announced that the real merge is likely to take place on either the 15th or 16th of September next month. This is in line with what we estimated earlier this month, assigning a 95% chance of a merge in September in case Görli occurred flawlessly, as it did. This means that one of the most significant events in the history of crypto is only around a month away. It seems that traders are likewise anticipating the merge. Ethereum hit a local high against Bitcoin since January of 0.0816 (ETHBTC) this weekend alongside hitting a new 3-month high in dollar terms of over $2,000. This is rather remarkable because Ethereum has previously decreased against Bitcoin during bear markets with Bitcoin behaving somewhat as a safe haven within the highly speculative crypto market. At present, the pair trades at 0.0793. Coinbase releases Q2 2022 result On Tuesday, the largest US-based crypto exchange NASDAQ-listed Coinbase reported its second quarter result. The result was, however, not encouraging for shareholders. The company’s revenue declined by nearly 64% compared to the same quarter last year, while the company noted a loss accurately exceeding $1bn. Yet, $377mn of that was caused by depreciating its crypto holdings, with the latter taking a severe hit during the quarter. Coinbase laid off around 18% of its workforce in Q2 while enforcing a hiring freeze. The major issue for Coinbase in Q2 and not least going forward is the fact that its retail trading has decreased substantially, although its volume from institutional clients is fairly more stable. The challenge with the latter is that Coinbase earns significantly less on institutional rather than retail trading. As a consequence, institutional clients’ volume is over three times as much but pays overall 15 times less in trading fees than retail clients. So, unless retail trading surges, the fundamental of Coinbase is likely not improving. Making matters worse, Coinbase is encountering further competition on retail trading from, for instance, Robinhood, potentially over time pushing Coinbase’s high margins on retail trading down. Source: Coinbase Global, Inc. Source: Coinbase Global, Inc. Alongside 21 other companies, Coinbase is a part of our Crypto & Blockchain equity basket for investors wanting to get exposure to the crypto market through crypto-related companies (the basket should not be considered as a trade recommendation, only as an inspirational list). Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Ethereum, it is time to merge
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Crypto: We May Say Bitcoin Battles With ETH For Users' Sympathy! Bitcoin Price (BTC/USD) - Technical Analysis - 16/08/22

InstaForex Analysis InstaForex Analysis 16.08.2022 09:17
Relevance up to 08:00 2022-08-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The world's largest fund managing assets worth over $ 8 trillion has opened a private trust that will allow institutional investors from the United States to gain direct exposure to Bitcoin's spot price. The event is all the more interesting in the context of BlackRock's previous moves, which from the beginning of 2022 clearly suggested an interest in the cryptocurrency industry. The company-created trust is the first such BlackRock product to focus on Bitcoin and track its performance, minus the trust fund's expenses and liabilities. Importantly, the fund was opened just now, when Bitcoin has massively lost since the beginning of 2022 and is slowly recovering. BlackRock has been researching blockchain technology and digital assets for a long time. Research areas include stablecoins, permissioned blockchains, asset tokenization and cryptocurrencies. What is even more important, BlackRock emphasized that his interest in the still 'energy-consuming' Bitcoin was caused by the research programs of the Rocky Mountain Institute (RMI) and Energy Web, which aim to bring Bitcoin mining to sustainable energy use. The fund known for its "green policy" and the so-called The ESG stressed that it "will closely monitor the progress of these programs". August was a very successful month for Bitcoin, and BlackRock made some very important strategic moves during it. Technical Market Outlook: The BTC/USD pair had been capped several times around the level of $25k as the bulls clearly do not have enough momentum to make the sustained breakout possible. The intraday technical support is seen at $23,596 and might be hit any time now as the price keeps moving away from the $25k zone. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Read more: https://www.instaforex.eu/forex_analysis/288597
An Investigation Against Terraform Labs In Singapore

Ethereum Price (ETH/USD) - Technical Analysis | InstaForex

InstaForex Analysis InstaForex Analysis 16.08.2022 10:19
Relevance up to 08:00 2022-08-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: On August 11, 2022, Ethereum developers notified the community during the Consensus Layer Call live stream that the Merge update is likely to occur between September 15-16. The next day, Ethereum co-founder Vitalik Buterin confirmed that The Merge is likely to take place on September 15th. Since then, everyone has been asking where the current Ethereum hashrate will go after the update goes live. There has always been a lot of speculation that most of the ETH hashrates will be redirected to Ethereum Classic (ETC), however this is not the only opinion. There was one significant drop in ETH network hashrate that started on June 6. Statistics show that on that day 1.23 petahashas per second (PH /s) or 1,230 terahashas per second (TH /s) was dedicated to the Ethereum network. The data shows that around 230 TH /s have left the network, but none of the chains supporting Ethash have recorded hashrate accumulation on such a scale. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288599
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Crypto: Ethereum (ETH) Is Getting Closer And Closer To The Merge!

Crypto.com Accelerate the... Crypto.com Accelerate the... 16.08.2022 11:47
ETH options open interest at a high as traders pile on leveraged bets. Asset managers’ net-long position in CME BTC futures climbing. ETH enters short-term overbought territory Chart of the Week: In the Mood for Leveraged Bets ETH options open interest has reached a new high at around US$8B. Options are a leveraged play on ETH and traders are likely piling up the bets in anticipation of the mainnet merge in September. Last week, the final testnet merge, Goerli, was successfully completed, giving traders an extra confidence boost.     Fund Flow Tracker No significant movements in aggregated exchange balances for both BTC and ETH over the past week.         Derivatives Pulse Implied vols and skews (puts minus calls) are subdued. 1-week implied vol currently stands at 58.7% (vs. 63.1% a week ago) and 84.8% (vs. 91.9% a week ago) for BTC and ETH, respectively. Put-call ratios remain at low levels.                     Perpetual futures funding rates remain mainly in positive territory for both BTC and ETH over the past week.         Asset managers’ net-long position in CME Bitcoin futures continues to crawl up, and leveraged traders’ net-short position keeps on reducing. Other reportables’ (which includes corporate treasuries) net-long position has flipped to net-short.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking BTC and ETH both have momentum in their sails, reclaiming key levels US$24K and US$2K, respectively. However, the surge has driven ETH into short-term overbought territory based on the 14-day Relative Strength Indicator (RSI), with BTC closing in as well.     Price Movements         News Highlights Ethereum’s final testnet merge on Goerli was launched. Crypto.com obtains Electronic Financial Transactions Act and Virtual Asset Service Provider registration in South Korea by acquiring PnLink Co., Ltd and OK-BIT Co., Ltd. Coinbase’s credit rating gets cut by S&P to BB from BB+. BlackRock launches a spot Bitcoin private trust for U.S. institutional clients. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES
Wow! Altough Now ETH/USD Is Trading Below $2K, Ethereum Price Met $2,000!

Wow! Altough Now ETH/USD Is Trading Below $2K, Ethereum Price Met $2,000!

Kucoin Blog Kucoin Blog 16.08.2022 11:58
Table of Contents · Crypto Market Overview · Top Altcoin Gainers and Losers · News Highlights This Week · Bitcoin (BTC/USDT) Analysis on KuCoin Chart     Most of the cryptocurrencies traded spent the week either gaining or losing slightly, making the weekly overview less unified than in the previous weeks. The overall cryptocurrency market volume in the past 24 hours came up to $77.57 billion. The overall crypto market cap stayed in the same spot compared to the previous week, coming up to $1.15 trillion, a slight increase from the previous week’s $1.14 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's dominance is steadily declining and now fell below 40%, now standing at 39.05%. This came as a result of Ethereum outperforming the top cryptocurrency by market cap due to its price increase before the long-awaited merge. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $24,095.98, while Ethereum, the second-largest cryptocurrency by market capitalization, has risen to $1,895.48, up 11.47% in the last week.   The top performers from the previous week were Ankr (ANKR), Shiba Inu (SHIB), and Chiliz (CHZ). ANKR has increased by more than 39.90% to $0.047, while SHIB gained 24.03% in the past seven days. Finally, CHZ gained 18.18% to $0.18.   Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, ApeCoin (APE), Kusama (KSM), and The Graph (GRT) were the worst performers of the week. APE is down 15.68% to $6.33; KSM is down 14.01% in the last seven days; GRT is down 13.59% to $0.13.   Top Altcoin Gainers and Losers Top Altcoin Gainers: ⧫ Ankr (ANKR) ➠ 39.90% ⧫ Shiba Inu (SHIB) ➠ 24.03% ⧫ Chilliz (CHZ) ➠ 18.18%   Top Altcoin Losers: ⧫ ApeCoin (APE) ➠ 15.68% ⧫ Kusama (KSM) ➠ 14.01% ⧫ The Graph (GRT) ➠ 13.59%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum 2.0 Merge in the Limelight, ETH Touches the $2,000 Mark The second leading cryptocurrency, Ether, has continued its upwards trajectory amid merger speculation.   Goerli, the most anticipated event prior to the Ethereum merger, switched to PoS on August 12. Even though this is the final official test before the official Merge, Ethereum developers will continue to test smaller devnets and shadow forks.   With Goerli transitioning to PoS, we now have an expected date for the Ethereum merge, which gave strong positive sentiment to Ether’s supporters. As a result of this, the second-largest cryptocurrency by market cap skyrocketed, and even managed to touch the $2,000 mark, before stabilizing at around $1,800.   Another thing to note is that the Ethereum’s merge may not be as smooth as expected, as a community of miners and PoW supporters is adamant about creating their own fork of Ethereum that will continue operating with PoW.   Shiba Inu (SHIB) Skyrockets on Technicals Shiba Inu (SHIB) managed to break out of its prevailing cup-and-handle pattern yesterday, rallying close to 30% in just one day.   If we take a look at SHIB’s fundamentals and technicals, we can see two slightly different stories. Fundamentally, Shiba Inu’s price rally had no visible catalysts. While some argue that the cryptocurrency had an exception burn rate, the actual amount of SHIB burned came up to only $4,500. On the other hand, the meme cryptocurrency did get added to the Binance Card supported tokens list - but this happened over ten days ago, and caused no market traction then.   On the other hand, SHIB’s technicals have been signaling that the cryptocurrency was in a cup-and-handle pattern until yesterday, when it broke it to the upside. The cup-and-handle pattern has a very positive success rate in determining the direction of the next move, and an over 60% success rate at detecting the size of the move.   Numerous analysts predict a 50% rally for SHIB by the start of September.   Blackrock Enters the Crypto Industry, Scaramucci Predicts a $300K BTC Anthony Scaramucci, the founder and managing partner of Skybridge Capital, stated that he believes BlackRock’s Bitcoin trust will contribute towards a Bitcoin demand shock that will make its price skyrocket. He also predicted that the price increase may come sooner than anticipated, and added that he believes BTC will head to $300,000 very soon.   Blackrock, the world’s largest asset manager, has entered the crypto market by partnering up with Coinbase, all in order to provide its US-based institutional clients easy access to crypto. This would be done by Blackrock’s own private trust, which would operate on the spot market.   While the thought of one company entering the crypto market may sound underwhelming, this is, in fact, huge news. Blackrock manages around $10 trillion dollars - 9 times the amount of the total market cap of the crypto industry. If its institutional investors dedicate only a small portion of their portfolios towards crypto, we may as well see another bull market extremely soon.   Kevin O’Leary Expresses His Thoughts on Tornado Cash Ban One of the news that caused divided sentiment in the sector was the US ban on Tornado Cash, a well-known Ethereum-based “crypto mixer” service.   Shark Tank host Kevin O’Leary expressed his thoughts on the ban, and showed positive sentiment towards the US government opting to force regulation this way. Clamping down on crypto services that “mess with the primal forces of regulation” is necessary, stated O’Leary, adding that Tornado Cash and similar services are deterring real institutional capital from coming into the space.   He then suggested that applications like Tornado Cash are a part of a “crypto cowboy” culture that the industry should grow out of. O'Leary advocated for a rule-based crypto sector that would, as a result, attract institutional capital.   The Fear & Greed Index at 45, Market Sentiment Improving The fear and greed index still signals "fear," with an index indicating a 45 score. Fear levels have improved greatly since the past week, with the market now being much less fearful.   Last week, the index scored 30, indicating a shift from “extreme fear” to “fear.”   Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 16/08/2022 - FileCoin - FIL-Singapore Summit   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has had a great week, with its price slowly inching up towards the $25,000 mark. The largest cryptocurrency by market cap has seemingly entered a minor uptrend, which it has been following for just under a month now.   This uptrend has led BTC from a little over $18,000 all the way up to a high of $25,206, which it hit a couple of hours ago. However, the price bounced back from the psychological resistance and is now fighting to stay above $24,000.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   However, some analysts are predicting a double top for Bitcoin, and are stating that both Bitcoin and major altcoins are hitting their resistance levels, and are ready for a retracement to lower levels.   Bitcoin’s immediate resistance level stays at $25,000, while its immediate support level lies at the 21-day moving average, currently sitting at $23,422.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: Weekly Crypto Analysis: Bitcoin Testing $25K; Ethereum, Shiba Inu, Blackrock in Highlights| KuCoin
"Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS"

"Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS"

Alex Kuptsikevich Alex Kuptsikevich 16.08.2022 10:21
Market picture Bitcoin is losing 3.7% in the past 24 hours, falling to $23.9K%. Ethereum is down 5.2% to $1870. Other top altcoins are down 2% (BNB) to 6.4% (Solana). Total capitalisation of the crypto market The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% to $1.14 trillion overnight. Bitcoin on Monday failed to claw its way above $25K, after which short-term buyers rushed to lock in profits and returned the price to the $24K area. The pressure on BTC was exerted by the rising US dollar amid weak data from China, indicating a slowdown in the economy. However, so far, Bitcoin's decline is more appropriately seen as a corrective pullback within an uptrend. It would only be appropriate to discuss a break in this trend if it moves below $22.5K-23.0K. Sluggish and uncertain growth at the first stages is typical after a strong sell-off that prevailed since last October. News background Notably, the positive dynamics of the crypto market last week coincided with a net $17 million outflow, the first net withdrawal in seven weeks, of which $21 million came from investments in BTC. At the same time, investments in bitcoin short funds increased by $2.6 million. The Wall Street Journal reports that US pension funds remain optimistic about investing in cryptocurrencies, despite a significant pullback in prices and a wave of defaults by crypto companies. Raul Pal -- Real Vision CEO -- believes that Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS. Michael Saylor: BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth." Michael Saylor, former head of MicroStrategy, called the company's decision to buy bitcoin a good one. He said, BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth."
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Crypto: Bitcoin - More Investors Choose Holding BTC For A Shorter Period Of Time

Daniel Kostecki Daniel Kostecki 16.08.2022 14:19
The latest The Week On Chain report from Glassnode says there is a growing number of investors with a short time horizon ('short-term holders' - STHs), whose investments have increased by 330,000 BTC since May. It was this month that the crypto world grappled with the great panic and news of Luna's collapse.  The percentage of active supply in the '+1 year' period also rises to some of the highest levels ever. This could be a good sign for the market, which historically speaking normally gained after spikes of this indicator. Source: Glassnode The HODL Waves chart gives a good picture of the demand structure for cryptocurrencies over the past 1.5 years. Most of the gains from early 2021 were to 1-2y investors. In the next wave of gains in the second half of 2021, investors were more likely to target a shorter period of 6-12 months. The recent surge has again seen an influx of investors in the first category. These figures could potentially indicate the timeframe of possible upswings within the next cycle.   Source: Glassnode The data presented in Glassnode's report could point to an upward movement in the price of BTC in the medium term, which overlaps with Grayscale Investment's estimate of the timing of the next long bull market, which would begin within the next year.  Bitcoin and Ethereum Leading tokens BTC and ETH are down 0.3 and 1.4% respectively today at 11:00 GMT+3 on the Conotoxia MT5 trading platform. ETH is marking its third daily bear candle. Its price has temporarily moved below the 10-day moving average. However, ETH still seems to be moving in an upward price channel, to break out of it, the token would have to permanently break through the level around $1,770. The possibility of a correction in the short term cannot be dismissed, especially after the recent wave of strong gains. The current RSI (near the overbought zone) and MACD (drawing lower positive bars in the last days than those in the previous weeks' gains and entering the negative histogram area) may support such a scenario.
Crypto: How To Estimate A Risk And Take A Profit?

Crypto: How To Estimate A Risk And Take A Profit?

Binance Academy Binance Academy 12.08.2022 09:20
TL;DR Stop-loss and take-profit levels are two fundamental concepts that many traders rely on to determine their trade exit strategies depending on how much risk they are willing to take. These thresholds are used in both traditional and crypto markets, and are especially popular among traders whose preferred approach is technical analysis. Introduction Timing the market is a strategy where investors and traders try to predict future market prices and find an optimal price level to buy or sell assets. Under this approach, figuring out when to exit the market is vital. That’s where stop-loss and take-profit levels come into play.  Stop-loss and take-profit levels are price targets that traders set for themselves in advance. Often used as part of a disciplined trader’s exit strategy, these predetermined levels are designed to keep emotional trading to a minimum and are essential to risk management.   Stop-loss and take-profit levels A stop-loss (SL) level is the predetermined price of an asset, set below the current price, at which the position gets closed in order to limit an investor’s loss on this position. Conversely, a take-profit (TP) level is a preset price at which traders close a profitable position. Instead of using market orders in real-time, traders can set these levels to trigger automatic selling without having to monitor the markets 24/7. Binance Futures, for example, has a Stop Order function that combines stop-loss and take-profit orders. The system decides if an order is stop-loss or take-profit based on trigger price levels and last price or mark price when the order is placed.  Why use stop-loss and take-profit levels? Exercise risk management SL and TP levels reflect the market’s current dynamics, and those who know how to properly identify their optimal values are essentially identifying favorable trading opportunities and acceptable levels of risk. Evaluating risk using SL and TP levels can play a crucial role in preserving and growing your portfolio. Not only are you systematically protecting your holdings by prioritizing less risky trades, but you are also preventing your portfolio from being wiped out completely. Therefore, many traders use SL and TP levels in their risk management strategies. Prevent emotional trading One’s emotional state at any given moment can heavily affect decision-making, and this is why some traders rely on a preset strategy to avoid trading under stress, fear, greed, or other powerful emotions. Learning to identify when to close a position can help you avoid trading on impulse, allowing you to manage your trades strategically rather than whimsically.   Calculate risk-to-reward ratio Stop-loss and take-profit levels are used to calculate a trade’s risk-to-reward ratio. Risk-to-reward is the measure of risk taken in exchange for potential rewards. Generally, it is better to enter trades that have a lower risk-to-reward ratio as it means that your potential profits outweigh potential risks.  You can calculate risk-to-reward ratio with this formula: Risk-to-reward ratio = (Entry price - Stop-loss price) / (Take-profit price - entry price) How to calculate stop-loss and take-profit levels There are various methods that traders can utilize to determine optimal stop-loss and take-profit levels. These approaches may be used independently or in combination with other methods, but the end goal is still the same: to use existing data to make more informed decisions about when to close a position. Support and resistance levels Support and resistance are core concepts familiar to any technical trader in both traditional and crypto markets.  Support and resistance levels are areas on a price chart that are more likely to experience increased trading activity, be it buying or selling. At support levels, downtrends are expected to pause due to increased levels of buying activity. At resistance levels, uptrends are expected to pause due to increased levels of selling activity. Traders who use this method typically set their take-profit level just above the support level and stop-loss level right below the resistance level they have identified. Here’s a detailed explanation of The Basics of Support and Resistance. Moving Averages This technical indicator filters market noise and smooths price action data out to present the direction of a trend.  Moving averages (MA) can be calculated over a shorter or longer period, depending on individual traders’ preferences. Traders monitor moving averages closely, looking out for opportunities to sell or buy presented in crossover signals, where two different MAs cross on a chart. You can read about Moving Averages in detail. Typically, traders using MA identify stop-loss levels below a longer-term moving average.  Percentage method Instead of a pre-specified level calculated using technical indicators, some traders use a fixed percentage to determine SL and TP levels. For instance, they may choose to close their position once an asset’s price is 5% above or below the price they entered. This is a straightforward approach that works well  for traders who are not very familiar with technical indicators. Other indicators We’ve mentioned a few common TA tools used to establish SL and TP levels, but traders use many other indicators. This includes Relative Strength Index (RSI), which is a momentum indicator that signals if an asset is overbought or oversold, Bollinger Bands (BB), which measures market volatility, and Moving Average Convergence Divergence (MACD), which uses exponential moving averages as data points.   Closing thoughts Many traders and investors use one or a combination of the approaches above to calculate stop-loss and take-profit levels. These levels serve as technical motivations for them to exit a trade, be it to abandon a losing position or realize potential profits. Note that these levels are unique to each trader and do not guarantee successful performance.  Instead, they guide decision-making, making it more systematic and robust. Thus, evaluating risk by identifying stop-loss and take-profit levels or using other risk management strategies is a good trading habit.   Source: What Are Stop-Loss and Take-Profit Levels and How to Calculate Them?
The Greeks Help Options Traders Make More Informed Decisions About Their Positions

Lisk (LSK): Introduction And Potential. How Does Lisk Work?

Binance Academy Binance Academy 16.08.2022 15:30
TL;DR Lisk is an open-source blockchain application platform that improves Web3 accessibility for developers and users. It offers a simple-to-use software development kit (SDK) that enables developers to build blockchain applications using JavaScript, one of the most widely used programming languages. Lisk is designed to eventually allow developers to deploy sidechains onto their network, so that their blockchain applications can scale while staying connected to the wider Lisk ecosystem.   Introduction One of the major challenges blockchain technology faces in the Web3 era is the lack of accessibility. Different blockchains use a variety of programming languages, which makes it difficult for developers to build applications that can be flexibly used across multiple platforms. What is Lisk? Lisk is an open-source, layer-1 blockchain application platform that aims to help projects onboard users into the crypto and Web3 space. Through its easy-to-use SDK, developers can build scalable blockchain applications easily. The metaverse projects, DAOs, NFT marketplaces, and many other applications they create can also offer faster transaction speed at lower fees for users.   How does Lisk work? Lisk was founded in 2016 by Max Kordek and Oliver Beddows. It focuses on improving Web3 accessibility for developers and users. Some of Lisk’s main features include:  Delegated Proof of Stake (DPoS) Lisk uses the Delegated Proof of Stake (DPoS) consensus algorithm to secure the blockchain. DPoS is considered a more efficient and democratic version of the popular Proof of Stake (PoS) mechanism. It allows validators to outsource the block validation through a voting system. On the Lisk blockchain, voters can use their LSK tokens to vote for a maximum of 10 delegators to secure the network on their behalf and share the LSK rewards among them. Generally, a delegator with more votes is more likely to be selected to generate the subsequent blocks. Since the process is distributed among 100+ delegated validators, Lisk can operate in a fairly decentralized manner. It also enables the network to achieve scalability and increase its transactions per second (TPS) rate.  The Lisk SDK A unique feature of Lisk is its software development kit based on JavaScript, one of the world’s most widely-used programming languages. Popular blockchain networks often rely on different languages. For example, Bitcoin (BTC) uses C++, while Ethereum is built on Solidity. Unless they have a strong command of several languages, it can be challenging for developers to interact with different blockchains.  Lisk’s solution to this is an open-source and modular SDK on JavaScript to make blockchain and Web3 universally accessible to a broader range of developers. Using a very common programming language removes the hurdle for those new to building blockchain applications. Newcomers can start building using JavaScript and TypeScript immediately, without having to invest time and effort in learning blockchain-specific languages.  Furthermore, after the launch of the prospective Lisk Platform, developers will be able to leverage the Lisk SDK to implement their applications on sidechains instead of smart contracts. The sidechains’ interoperability will enhance scaling and keep transaction fees minimal. The Lisk SDK is also expected to support the development of NFTs, P2P, and Proof-of-Authority (PoA) modules. Scalable sidechains To facilitate interoperability between all application-specific blockchains in the network, Lisk is building the Lisk Platform, which is designed to allow developers to build scalable applications with greater autonomy and flexibility on sidechains. Sidechains are separate blockchains that connect to the main chain. On Lisk, developers will be able to deploy their own sidechains to scale their blockchain applications and offer lower transaction fees and greater TPS. Sidechains will communicate with one another directly through cross-chain messages. This interoperability is expected to ensure smooth asset exchange between sidechains and the main Lisk blockchain.  The Lisk team is working on expanding its ecosystem by facilitating interoperability with other layer-1 blockchains and protocols, such as Ethereum (ETH), Polkadot (DOT), and Cosmos (ATOM). The vision is for users to benefit from a growing ecosystem of apps interconnected through Lisk bridges.   What is LSK? Lisk (LSK) is the native cryptocurrency and utility token of Lisk. It is used to pay transaction fees and reward delegators on the network. LSK holders can also use the token to secure the Lisk network through DPoS. They can stake their LSK tokens in the Lisk Desktop wallet to vote or delegate, and the tokens will be locked for as long as the user is performing either of these roles.  LSK’s utility is expected to grow, with more use cases emerging as the Lisk network achieves interoperability with other blockchains. For example, LSK could be used for registering blockchain applications or transferring messages between different applications.    How to buy LSK on Binance? You can buy the Lisk token (LSK) on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and click [Trade] - [Spot]. 2. Search “LSK” to see the available trading pairs. We’ll use LSK/BUSD as an example. 3. Go to the [Spot] box and enter the amount of LSK to buy. In this example, we will use a Market Order. Click [Buy LSK] and the purchased tokens will be credited to your Spot Wallet. Closing thoughts Many believe that one of the key components to achieving the mass adoption of Web3 is to make blockchain technology more widely accessible. With projects like Lisk, more developers can build blockchain applications easily using coding languages they’re already familiar with. At the same time, users can benefit from a growing ecosystem of interconnected applications with faster transactions at lower fees. Source: What Is Lisk (LSK)?
Crypto: How To Estimate A Risk And Take A Profit?

Altcoins: GameCoin (GMEX) - What Is It? - A Deeper Look Into the GameCoin (GMEX) Platform

Rebecca Duthie Rebecca Duthie 16.08.2022 17:04
Summary: What is The Gamecoin Platform and how does it work? Advantages of the Gamecoin exchange. Gamecoin’s past, present and future price positions. The GameCoin Platform Any athlete in the world can create their own sports-related coins using the Game Coin platform. The platform, which enables businesses and individuals to participate in the decentralized market, was developed utilizing blockchain technology. All platform transactions are based on Game Coin, which is regarded as the platform's money. According to the whitepaper, young athletes can gain much from playing sports. Participation, however, entails significant expenses, such as coaching and program fees, travel charges, uniform costs, private sessions, etc. Most athletes do not have the opportunity to experience the potential benefits when these fees are included in. As a result, the Game Coin platform was made available to athletes. The Game Coin platform allows all the athletes to create their tokens through tokenization. Tokenization is a technique in which the asset's value gets transformed into a cryptocurrency shared and recorded on the blockchain. The networks on the platform's blockchain aim to provide advantages including lower costs, improved security, decentralization, transparency, speed, innovation, and tokenization. As they advance in their hypothetical sports marketplace, athletes can increase their token value. Through the social media network, the Game Coin platform offers the participants this chance. Athletes have access to a number of platform features that allow them to engage with and benefit from the Game Coin community. GMEX is the platform's official ticker for Game Coin. Every transaction on the site is subject to a 7% transaction fee. The transaction fee contributes to the accomplishment of the mission, and token holders are given the chance to interact, engage, compete, participate, and assess their skills and gifts on a single platform. Users can exchange "Players Cards" or sports tokens, which aim to gain value as athletes advance in their sporting careers. Additionally, when the athletes create their tokens, they can donate money to buy tokens from the entire supply. The current market capitalization for Game coin is $43,599,539. There is no maximum supply of GMEX tokens, however there is self -reported of 76.4 billion tokens. Advantages of the Gamecoin platform Offers support to athletes, Giving any athlete in the world the opportunity to construct their token on the Game Coin platform, which is presently under development, is the aim of this coin for athletes. Then, as they advance in the sport of their choice, they will have the rare opportunity to raise the value of their Player Card/Sports Token. The use of the Game Coin on the social media platform will make this possible. Increased physical activity and health The formation of social and communal relationships The facing and conquering of problems and the improvement of intellectual capacity are just a few of the advantages. Past, present and future prices of The Gamecoin network (GMEX) Gamecoin is a new coin to the crypto market and therefore does not have much price history. Its peak price was reached in October of 2021, thereafter the price dropped almost immediately and has remained low throughout 2022. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, GMEX does fall under this category. According to some analysts, the future price of The GameCoin network (GMEX) could reach up to $0.003 by 2025 and could see a price of more than $0.021 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. GMEX Price Chart Sources: finance.yahoo.com, coinmarketcap.com, coinbase.com, investsocial.com, technewsleader.com    
UK PMIs Signal Economic Deceleration, Pound Edges Lower

Soulbound Token (SBT) : An Online Soul. How Can You Use It?

Binance Academy Binance Academy 17.08.2022 09:50
TL;DR Soulbound Tokens (SBTs) are digital identity tokens that represent the traits, features, and achievements that make up a person or entity. SBTs are issued by “Souls,” which represent blockchain accounts or wallets, and cannot be transferred.  Introduction Soulbound Tokens (SBT) is a concept proposed in May 2022 by Ethereum cofounder Vitalik Buterin, lawyer Puja Ohlhaver, and E. Glen Weyl, an economist and social technologist. The whitepaper, entitled “Decentralized Society: Finding Web3’s Soul,” lays out the foundation of a fully-decentralized society (DeSoc) governed by its users and how Soulbound tokens (SBTs) can function as the credentials we use in everyday life.  What are SBTs? Soulbound tokens (SBTs) are non-transferable tokens representing a person’s identity using blockchain technology. This could include medical records, work history, and any type of information that makes up a person or entity. The wallets that hold or issue these records are called “Souls.” People could have multiple wallets (or Souls) representing different parts of their lives. For example, someone could have a “Credentials Soul” for their work history and a “Medical Soul” for their health records. Souls and SBTs would allow people to build a verifiable, digital Web3 reputation based on their past actions and experiences. On the other hand, Souls can represent an entity that allocates SBTs. For example, companies can be Souls, issuing SBTs to each employee. A digital country club could issue SBTs to verify membership status. The logic behind soulbound originates from the popular online game World of Warcraft.  Players cannot sell or transfer soulbound items. Once picked up, soulbound items are forever “bound” to the player’s “soul.” Now, imagine this idea but applied to non-fungible tokens (NFTs). Today, most NFTs are ownership certificates for digital art or collectibles, such as Bored Ape Yacht Club. People will buy, trade, or show off NFTs as a symbol of status and wealth. SBTs aim to turn the NFT concept into something beyond money and bragging rights, a token that is both one-of-a-kind and non-transferable. While NFTs represent assets and property, an SBT represents a person or entity’s reputation. And unlike an NFT, SBTs hold zero monetary value and cannot be traded once issued to someone’s wallet.  How can SBTs be used? SBTs have a wide range of potential use cases. Here are some examples that could potentially find use in everyday life. 1. Education history – When people graduate from university, they receive a certificate proving completion of the required courses. The university could be a Soul issuing the SBTs, and the students would be Souls on the receiving end. The SBT would store the student’s credentials, proving they hold the relevant qualifications and are a member of the university. Simply put, the SBT would function as proof of attendance. 2. Job applications – In theory, job applicants could submit all their prior work history and professional certificates using official SBTs issued by previous companies and institutions. The SBTs would function as proof of skill certificates. 3. Health records – Switching doctors or healthcare providers could be accelerated using an SBT that holds a person’s medical records. Hypothetically, the SBT would replace the often slow process of filling out paperwork, verifying your medical history, and going back and forth with someone on the phone. How do SBTs work in Web3? Trust is one of the main challenges affecting the Web3 industry. How can you trust a person’s reputation in a system designed to be trustless? Let’s use lending money as an example. Similar to traditional bank credit scores, SBTs could track a user’s DeFi borrowing history as well as other metrics that determine their risk profile. SBTs are also a proposed alternative for decentralized autonomous organization (DAO) voting. Instead of the current governance model, which is based on how many tokens a member holds, DAOs could issue SBTs that assign voting power based on users’ interactions with the community. This model would prioritize voting power for the most dedicated users with a strong reputation. Besides creating a reputation-based voting system, SBTs may potentially improve the integrity of DAO voting — namely, defending against Sybil attacks — one of the biggest threats to the current DAO governance model. During a Sybil attack, an individual or a group of bad actors overthrow a DAO by purchasing the majority of governance tokens. Those with majority voting power can manipulate voting proposals and steer the project’s direction in their favor. The public and verifiable nature of SBTs could help detect and prevent bad actors from entering the DAO and, in turn, deter corruption and Sybil attacks from occurring.  What are examples of SBTs in action? As of August 2022, SBTs only exist on paper. Glen Weyl, one of the co-authors who contributed to the original SBT whitepaper, believes there will be early SBT use cases by the end of 2022. Binance also recently announced its own SBT called Binance Account Bound (BAB). The BAB token is non-transferable, has no monetary value, and is the first-ever SBT issued on the BNB Chain. BAB aims to tackle identity verification issues in Web3, serving as a digital verification tool for Binance users who have completed KYC. In addition to the Binance ecosystem, third-party protocols will be able to use BAB tokens to airdrop NFTs, prevent bot activity, and facilitate DAO governance voting, among other use cases. Closing thoughts SBTs have become a hot topic in Web3. In theory, SBTs could allow people to establish their own digital reputation and assess someone else’s on the blockchain. It remains to be seen if an SBT can function as Web3’s version of the “identity card.”   Source: What Are Soulbound Tokens (SBT)?
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Watch Out Crypto Market! FOMC Minutes Could Affect Bitcoin Price (BTC/USD)

Craig Erlam Craig Erlam 17.08.2022 12:22
A mixed start to trade in Europe after a more promising session in Asia overnight where stocks may have been boosted by talk of more pro-growth policies in China. That followed disappointing data late last week and early this from the world’s second-largest economy so the comments came at a good time. Still, we’re not seeing investors getting too carried away by comments alone, action needs to follow and small rate cuts from the PBOC don’t really fall into that category. More misery for the UK as prices rise by the most since the early 80s UK inflation hit its highest level in 40 years last month, with the annual CPI jumping 10.1% and the core reading 6.2%, both faster than expected. Double-digit inflation was inevitable but it has come earlier than expected which will leave households and businesses worrying about what that ultimately means for peak inflation later this year and how sustained it will be. The data today has probably locked in a 50 basis point hike from the Bank of England as a minimum, especially when combined with yesterday’s wage growth numbers. Real incomes are still falling at a rapid rate but the central bank will have little choice but to persevere regardless and the economy will suffer the consequences. RBNZ committed to tackling price rises as it raises the cash rate peak The New Zealand dollar is trading a little lower on the day but the session has been quite volatile. We’ve seen some big swings in response to the RBNZ announcement despite the rate decision itself falling in line with expectations. The central bank now expects the cash rate to peak higher and earlier than previously anticipated, hitting 4.1% in the second quarter of next year, compared with 3.95% in Q3. The RBNZ still firmly believes though that the actions it’s taken will both return inflation to the midpoint of its 1-3% target range in 2024 and not trigger a recession, although it did caution that the country will likely experience sub-par growth. That all sounds very hopeful but BoE aside, that appears to be the view of central banks still. Fed minutes eyed as traders seek dovish pivot clues There’s plenty more to look forward to today but the FOMC minutes naturally stand out. What’s interesting about them is that despite the supposed “dovish pivot” from the Fed, the commentary since has been anything but. Rather than talking up the prospect of falling inflation allowing for slower tightening, the message remains hawkish. What’s more, policymakers are continually pushing back against the policy u-turn next year that markets have been flirting with the idea of. I expect any hawkish components of the minutes will be overlooked today and instead traders will dissect them for any additional dovish concessions that could further fuel the stock market recovery. That’s very much what we’ve seen in recent weeks and the decline in CPI last week only encouraged it. Could Fed minutes be the catalyst bitcoin needs? Bitcoin rallies have struggled to generate much momentum of late, with $25,000 proving to be a strong barrier to the upside. What’s interesting is how shallow the pullback has so far been from that level which could be a bullish signal. Traders may be struggling to get on board with a break higher but they’re perhaps not keen to cash out either. The FOMC minutes later may be the catalyst it needs, one way or another. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Mixed ahead of Fed minutes - MarketPulseMarketPulse
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Crypto: Acala Was Attacked. Exploit Made aUSD Price (Acala's Stablecoin) To Decrease

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.08.2022 13:19
Acala Network suffered security breach, aUSD depegged. Curve Finance’s website hacked. Crypto users were hit with “dust attack” after being sent a small amount of ETH from Tornado Cash. Weekly DeFi Index This week’s price index dropped by -7.26%, while volume and volatility indices were positive at +11.26% and +3.16%, respectively.     DeFi Index Tokens     News Highlight Acala, the “DeFi hub” of the Polkadot network, suffered a major security breach. The exploit allowed the attackers to mint an additional 1.2 billion aUSD, the native stablecoin of the network, in its iBTC/aUSD liquidity pool. Following the exploit, aUSD depegged and plunged to a low of US$0.009 on 14 August. In response to the incident, Acala passed a proposal to burn US$1.28 billion aUSD to regain the peg. At the time of writing, aUSD is trading around US$0.88.  Decentralised exchange Curve Finance experienced a frontend attack on 10 August. Hackers compromised the Curve website to redirect unwitting users or their transactions to a malicious destination. The thieves made off with US$570,000 of ETH and part of the stolen funds were frozen. DeFi protocols banned users following OFAC sanctions on Tornado Cash. However, this derives a so-called ‘dust attack’. Crypto users reported being blocked by major DeFi protocols after attackers sent a small amount of Ether (usually 0.01 ETH) via Tornado Cash. More than 600 addresses were hit with the same 0.01 ETH ($19.25) ‘dust attack’, including crypto exchanges and public figures. Ethereum’s third and final testnet merge was completed on Goerli. This is one step closer to Ethereum’s mainnet upgrade, which is expected to happen this year. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer 2 Projects Overall, the L2 market saw +6.99% growth over the past week. Optimistic rollup projects rose +4.15% and zero-knowledge rollup projects dropped -4.61%. Sidechain projects gained traction with +18.02% growth, mainly driven by Polygon (+20.50%). Ethereum’s TVL rose +1.17%.     The TVL for almost all of optimistic rollup’s projects were negative last week except Arbitrum (+7.75%) and Optimism (+0.04%).     Although the overall TVL of ZK rollups fell, StarkNet was under the spotlight as its TVL grew +14.07%.     Further Reading Arbitrum launches gaming and social App-focused layer 2 chain Arbitrum Nova DeFi protocols Aave, Uniswap, Balancer, ban users following OFAC sanctions on Tornado Cash Tornado Cash DAO shuts down as it “can’t fight the US” and keep contributors safe BlueBenx fires employees, halts funds withdrawal citing $32M hack Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network DeFi firms Iron Bank, Yearn Finance join layer 2 protocol Optimism Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI L1 & L2 Source: DeFi & L1L2 (Week 32, 10/08/2022 – 16/08/2022) (crypto.com)
Binance Academy summarise year 2022 featuring The Merge, FTX and more

KuCoin: Flow (FLOW) - What Is It? How Does It Work?

Kucoin Blog Kucoin Blog 17.08.2022 13:42
Table of Contents: · What is Flow? · How does Flow work? · Who created Flow? · What is the FLOW token used for? · What makes Flow unique? · Closing Thoughts Recently, Meta, formerly Facebook, announced a partnership with Flow, which made FLOW surge over 38% within 24 hours. The partnership will see Flow host non-fungible tokens (NFTs) on Meta’s subsidiary, Instagram, which now supports NFTs in 100 countries. According to data, the FLOW token surged significantly to trade as high as $3.22 on August 11.   So this blog will walk you through Flow and how does it work.   What is Flow? Low transaction throughputs have proven a significant challenge in leading blockchain networks. This problem emanates from the fact that most traditional blockchains run as homogeneous systems with full nodes. In this setup, nodes handle all on-chain data, including collecting transactions, generating blocks, and reaching consensus.   This means the nodes act like micro-processors, forcing the networks to execute one instruction per step, consequently limiting the throughput. This shortcoming has limited the adoption of the crypto and blockchain industries.   Looking to address this problem, the Onflow team under video game developer Dapper Labs launched the Flow blockchain in September 2019. Unlike conventional blockchains, Flow leverages a pipelined architecture. The Flow system separates the consensus process from transaction computation, boosting the network’s throughput and maintaining security.   How Does Flow Work? Flow’s pipelined architecture assigns different functions to specialized nodes. These include Collector, Consensus, Execution, and Verification nodes. This setup dedicates light tasks like consensus and verification to the network’s adopters who use home internet connections. Flow then leaves the execution task to large-scale data centers.   The low entry barrier and crypto-economic rewards encourage many people to sign up to become Consensus and Verification nodes. In turn, the network becomes more decentralized and secure. Flow allows Verification nodes to appeal whenever they discover anomalies. The consensus nodes must then determine whether the appeal is valid or not.   By dedicating different tasks to different nodes, Flow surpassed the throughput of blockchains that use full nodes by a factor of 56.   The network is based on a Proof-of-Stake (PoS) consensus mechanism, which minimizes the amount of computational power needed to verify and execute transactions. Nodes on the Flow network run on four core principles.   These are detectable, attributable, punishable, and recoverable.   By detectable, the network ensures all honest nodes can detect any faults and prove the fault to other honest nodes. In so doing, the network enables all honest nodes to re-do the faulty parts. Attributable means that Flow assigns different tasks to a random group of nodes based on Verifiable Random Functions (VRFs). As such, any fault is attributable to the responsible nodes.   Punishable means that all nodes in the Flow network must stake some tokens. Any participant responsible for a fault gets some of their staked tokens slashed. The network actively punishes nodes responsible for faults because of the detectable and attributable features.   Recoverable means Flow boasts features for result verification and resolution of potential challenges. These elements help prevent malicious nodes from introducing faults into the system.   Flow treats nodes that complete the collector, consensus, execution, and verification roles as different entities. Although a single piece of hardware can run collector, consensus, execution, or verification nodes, each role is staked, unstaked, and punished independently.   Who Created Flow? Flow is the creation of Dapper Labs, the firm that launched renowned blockchain games like CryptoKitties and NBA Top Shot. The firm features an experienced blockchain team led by founders Roham Gharegozlou, Dieter Shirley, and Mikhael Naayem.   What is the FLOW Token Used For? FLOW is the native token of the Flow network. FLOW is used for every activity on the network, including creating new user accounts. As the Flow network matures, FLOW holders can use the token to participate in governance.   Developers that build on Flow can add FLOW into their apps enabling users to use the token for peer-to-peer (P2P) payments. On top of this, FLOW is required when creating and using secondary tokens on Flow. In this case, network participants can use FLOW to pay for storage or as collateral.   Moreover, FLOW holders can earn rewards by staking their tokens and running validator nodes. The network’s users can also delegate their stake to big operators to run validator nodes on their behalf.   What Makes Flow Unique? Unlike most blockchains, which use full nodes, Flow boasts a multi-role architecture. This design allows the network to scale and serve users without sharing or compromising decentralization. Additionally, the network features resource-oriented programming, whereby developers write smart contracts in Cadence, a programming language for crypto and dApps.   Closing Thoughts Flow’s multi-role design and the PoS consensus model increase the throughput, making it ideal for handling daily transactions. The network already hosts an array of blockchain games, including NBA Top Shot, NFL All Day, and UFC Strike, to mention a few. The partnership with Meta is set to propel the project even further, creating a big opportunity for Flow to expand its user base.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What is Flow (FLOW) and How Does it Work? | KuCoin Crypto Gem Observer| KuCoin
There Are Many Ways To Join A Crypto Community

Crypto: Livepeer. Video Protocol Built On Ethereum Blockchain. Is It Worth It?

Binance Academy Binance Academy 17.08.2022 13:50
TL;DR   Livepeer is a decentralized video protocol built on the Ethereum blockchain. It was designed for anyone to seamlessly integrate video content into applications in a decentralized manner and at a fraction of the cost of traditional solutions. Decentralization of video processing is accomplished by distributing the transcoding process to a network of node operators. Transcoding is an essential step in ensuring smooth delivery of video content to end users. It involves taking raw video files and converting them to the optimal state for each end user, based on factors such as device screen size or internet connection. Livepeer processes video content reliably and inexpensively using blockchain technology that utilizes game theory, cryptoeconomic incentives, and smart contracts to foster positive stakeholder interactions. Its native asset, the Livepeer token (LPT), is used to coordinate and distribute video processing tasks among network participants securely and reliably.    Introduction   With the increasing reliance on social media, especially amid the recent pandemic, as well as the massive growth of the creator economy, video-related content used more than 82% of the internet’s bandwidth in 2021.  The Livepeer network, powered by thousands of distributed nodes, gives video app developers and creators access to a secure, high-quality, affordable encoding architecture without a hefty price tag. Since its inception in 2017, the Livepeer network has processed over 150 million minutes of video.   How does Livepeer work?   Livepeer, built on Ethereum, is essentially a network that connects anyone seeking video processing with suppliers that provide this service. It uses its native token, LPT, to incentivize network participants to keep this video transcoding process reliable, secure, and affordable compared to current centralized solutions. There are two main stakeholders in the Livepeer network: orchestrators and delegators.  Orchestrators Anyone who owns video mining equipment can stake their LPT and perform video processing work on the Livepeer network. In exchange for providing this service, they receive a share of the video processing fee in the form of LPT and ETH. These network participants are called orchestrators.  Delegators Those who don’t have access to video mining tools or video processing experience can still participate in the network by delegating or assigning their LPT to a node operator with the right tools and expertise to process video via the Livepeer Explorer. These network participants are called delegators.   What is LPT? The network’s native asset, the Livepeer token (LPT), is an ERC-20 token used to provide security, distribute video processing tasks among network participants, and incentivize their active participation in the various roles on the Livepeer network. The more LPT tokens are committed to the network’s functioning, the more stable, secure, and robust it becomes.   Orchestrators are allocated work according to the amount of LPT they have staked — their own or those of delegators — along with their geographical location and reliability. Since more delegated tokens lead to more work, and more work equals more rewards, orchestrators compete to attract as many delegators as possible. At the end of each round, i.e. end of every day, the Livepeer protocol mints new Livepeer tokens according to a designated inflation rate. Livepeer is a “stake-based” protocol, which means rewards are allocated to each participating user in proportion to their contribution. Participants who have been active in a given round — either by running nodes or by staking tokens — receive a proportionate amount of the issued reward. Those who did not actively participate in a given round do not receive these rewards.  Orchestrators also earn an added benefit: they receive a portion of their delegators’ rewards as a commission for running the decentralized infrastructure.  With this system, active participants can grow their stake in the network. Meanwhile, transcoding rights of inactive users shrink with every round in which they do not participate. In other words, a larger LPT stake results in more allocated work, ultimately leading to more rewards.  The inflation rate used to determine the size of the issued rewards also motivates users to be active. The percentage of new LPT in each compensation round is determined by how many total LPT are committed to the network’s successful functioning. The higher this proportion, the lower the inflation rate and the more value existing tokens will retain. Thus, token holders are naturally motivated to stake more to earn more.   How to buy LPT on Binance?   You can buy LPT on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “LPT” on the search bar to see the available trading pairs. We will use LPT/BUSD as an example. 3. Go to the [Spot] box and enter the amount of LPT you want to buy. In this example, we will use a Market order. Click [Buy LPT] to confirm your order, and the purchased LPT will be credited to your Spot Wallet. Closing thoughts Livepeer has designed a solution to delegate video processing tasks to reliable parties. With a  decentralized video protocol, Web3 projects and companies can avoid high, arbitrary video processing fees and censorship to provide better video content for their audiences.   Source: What Is Livepeer (LPT)?
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Crypto: Bitcoin Price USD - Technical Analysis - 17/08/22 | InstaForex

InstaForex Analysis InstaForex Analysis 17.08.2022 14:42
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Alphabet, the owner of Google, has invested as much as $ 1.56 billion in projects from the blockchain market. This happened between September 2021 and June 2022, according to a report from Blockdata. In recent years, Alphabet, the parent company of Google, has entered the blockchain market. It is worth adding, however, that the company initially adopted a cautious approach to this sector. Ultimately, however, she partnered with Dapper Labs, a studio developing products in the Web 3.0 field. "We look at the blockchain market with interest; it is a very interesting and powerful technology with wide applications" Alphabet CEO Sundar Pichai said. How do other giants fare against this background? In the same period, i.e. September 2021 - June 202, BlackRock invested $ 1.17 billion in blockchain initiatives. Morgan Stanley, in turn, spent $ 1.1 billion on similar projects. Samsung has allocated $ 979 million for projects of this nature, and Goldman Sachs - $ 698 million. In general, companies are entering the blockchain market, despite the fact that it is still unknown if and when this technology will be widely available in a few years, and its adoption will continue. However, the current forecasts of experts indicate that the development of the block network in the coming years will continue. The current actions of giants like Alphabet mean that these corporations will have a competitive advantage as the said adoption continues to develop. Technical Market Outlook: The BTC/USD pair had been capped several times around the level of $25k as the bulls clearly do not have enough momentum to make the sustained breakout possible. The intraday technical support is seen at $23,596 and might be hit any time now as the last bounce from the local lows was very shallow. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/288841
The Sandbox Is Available On GitHub, The Norway's CBDC  Based On Ethereum Technology

ETH - The New King Of Crypto World? Ethereum Price (USD) - Technical Analysis - 17/08/22

InstaForex Analysis InstaForex Analysis 17.08.2022 14:46
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The ICO Ethereum whale address carries 145,000 ETH to various accounts in the weeks before Merge Such a large number of ETH carried over just a month before the merge sparked the curiosity of the crypto community. Some say it is for selling, while others say it is for betting. The Ethereum whale wallet, which participated in the initial coin offering (ICO) and acquired 150,000 Etherum (ETH) in 2014, was reactivated on August 14 after three years of sleep. From its address, the whale shifted 145,000 ETH to multiple wallets as Etherum's price soared to a new three-month high of over $ 2,000. The transfers were made in batches of 5,000 ETH, with several transfers of over 10,000 ETH. The total value of Etherum transferred is over $ 280 million and the wallet address currently has a balance of 0.107 ETH. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A and a perfect target for the wave C of the overall ABC corrective cycle. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288843
Summer's End: An Anxious Outlook for the Global Economy

Crypto Market Is Dependent On Stock Market. The Correlation Between Nasdaq 100 And BTC

Conotoxia Comments Conotoxia Comments 17.08.2022 15:27
Michael Burry is a well-known US investor who became famous for betting on the collapse of the US real estate market and the burst of the bubble in 2008. On 15 August, he filed a 13F form with the Securities and Exchange Commission (SEC), revealing the positions of his fund, Scion Asset Management. To the surprise of many, the investment portfolio turned out to be almost completely empty. Burry held shares worth 165 million at the end of the first quarter. These included companies such as Google, Meta and Stellantis. However, the latest report filed with the regulator revealed that all of it had been sold and the glorified investor's only long position is in GeoGroup, a company involved in running private prisons, but the value of the position is negligible at just under $3.31 million. The investor has recently been posting a number of tweets suggesting the end of the bear market rally. This has sent shock waves across the market, as the investment manager has usually been successful in predicting the market moves, famous for his incisiveness. If there were to be large declines in the broad traditional market, e.g. equities, what could this mean for crypto? The correlation between BTC and the Nasdaq 100 seems to be apparent, but after the last all-time high reading of 0.84 in May, it dropped to around 0.48 at the end of June. What is unfortunate, however, is that the correlation has been rising with subsequent waves of declines and peaked near local lows. If the stock market were to actually experience a crash, a strong reaction from the crypto market can be expected. The recent increase in correlation may be due to the increasing participation of token trading institutions. Michael Burry's attitude was addressed by Mati Greenspan CEO of Quantum Economic, stating that predicting the timing and scale of a crash is almost impossible. "Predicting a stock crash is a lot like predicting an earthquake. You know one will happen every so often but you can never tell exactly when or how severe it will be" - Greenspan said. On the Conotoxia MT5 platform, BTC is seeing its fourth day of decline, losing more than 0.7% at 10:30 GMT+3, while ETH is gaining less than 0.3%, drawing its first upward candle in three days. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Michael Burry closed almost all his positions - what could another stock market crash mean for crypto?
An Investigation Against Terraform Labs In Singapore

Crypto: Ethereum Price - Is It Correction Time!?

InstaForex Analysis InstaForex Analysis 17.08.2022 15:30
Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum ended its upward spurt, failing to retest $2,000. As a result, the price began to decline and hit a support area near the level of $1,900. At the same time, the overall situation in the market remains tense due to low liquidity and trading activity. On top of that, there were alarming rumors about ETH's transition to the PoS and the US sanctions policy. These factors, as well as altcoin's dependence on Bitcoin, give rise to opinions that ether is about to start a correction.     From the technical point of view, the asset remains bullish and is likely to make another attempt to break through $2,000. The RSI resumed upward movement after a brief consolidation. The stochastic oscillator is also preparing to form a bullish crossover. Technical metrics indicate that buying activity remains high, and fundamental reasons for growth are pulling the price upwards. At the same time, the MACD continues to move flat, which indicates that there are no significant bullish signals in the long term.     Another important problem with Ethereum's technical metrics is their positioning. The stochastic oscillator is moving near 75 and the relative strength index is at 65. These are bullish signals, indicating continued buying sentiment. However, the indicators have been above 60 since July 25, and the metrics have moved into the overbought territory several times during that period. This is normal for an asset that is one step away from an important update but it also indicates that it is overheated. Recent evidence of record ETH inflation due to low online fees confirms that the market is overheated.     If we evaluate the main onchain metrics reflecting the number of active addresses and the volume of daily trading, we can conclude that there are no clear signs of positive factors. We see a correlation between the growth of the number of addresses and trading volumes, but the co-dependence manifests itself impulsively rather than consistently. This is also a normal situation for an asset that is one step away from an important merge. Fundamentally, it suggests that interest in ether, though high, is not consistent. This increases volatility, reduces institutional interest, and negatively affects the formation of a long-term trend.     In addition, more than 66% of ETH validators on PoS are going to comply with US sanctions and block illegal transactions. There would be no problem if the majority of validators supported this initiative, but we see more than 35% are disagreeing with this policy. As a result, Ethereum's move to PoS could create a conflict with far-reaching consequences. There is no doubt that the situation will be closely monitored by institutional investors, for whom validation and transaction security issues are paramount.     Overall, the PoS update will be revolutionary and will greatly strengthen Ethereum's position in the market. Ethereum issuance will drop from approximately 13,000 coins per day to 2,000-3,000. In this respect, the asset will approach Bitcoin in terms of its capabilities and attractiveness. The merger is exactly one month away, and the altcoin needs a recovery correction to conduct a consolidation period before the main Merge update starts. At this stage, the ether retains bullish potential, high but erratic investor interest, and is preparing for another $2,000 retest.   Read more: https://www.instaforex.eu/forex_analysis/319150
Dogecoin Could Start The Next Impulsive Rally

A Gamechanger For DOGE Fans!? What Is Libdogecoin? | Dogecoin Price (DOGE) Price Development Is Impressive!

InstaForex Analysis InstaForex Analysis 17.08.2022 15:47
Relevance up to 09:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   The oldest and most beloved meme coin in the cryptocurrency ecosystem, Dogecoin (DOGE), continued its growth Tuesday, despite the weakness in the market as a whole. Data shows that the price of DOGE rose 21% from a low of $0.075 in early trading to an intraday high of $0.0917 before pulling back to $0.085.     The main source of momentum driving the growth of DOGE is the growing excitement among the supporters of the Dogechain cryptocurrency, which is compatible with the Ethereum smart contract network built using the Polygon Edge framework. Dogechain is positioned as the second layer for Dogecoin and will allow users to connect DOGE to the network to access their applications. Once a user successfully connects DOGE to Dogechain, they will be granted an equal amount of Dogecoin (DOGE). The need to connect DOGE to Dogechain has created positive buying pressure on the token, driving its price up 38% over the past week. Earlier in August, the new Ethereum virtual machine (EVM) compatible network was officially launched and has recently begun to gain momentum. With the new smart contract capabilities available to the Dogecoin community, Dogechain has already launched several Uniswap-style automated market makers, including DogeSwap and DogeShrek, where users can trade tokens launched on the Dogechain network. The second factor that contributed to the development of DOGE was the release of the Libdogecoin protocol, a project that will allow users to develop products that comply with the Dogecoin network standards. Libdogecoin allows developers to develop protocols for the network without the need for a node, helping to make the network more useful. Recently, a developer named Shafil Alam announced that he had compiled Libdogecoin for iOS and Android devices, helping to expand the reach and accessibility of the protocol. This will allow the community to create more mobile applications designed specifically for the Dogecoin ecosystem. As part of the move towards mass adoption of DOGE, Libodogecoin has already served as the basis for the development of new projects on Dogecoin, helping to launch projects such as RadioDoge and GigaWallet.   Read more: https://www.instaforex.eu/forex_analysis/319144
Altcoins: Thor (Thor) - What Is It? - A Deeper Look Into the Thor (Thor) Platform

Altcoins: Thor (Thor) - What Is It? - A Deeper Look Into the Thor (Thor) Platform

Rebecca Duthie Rebecca Duthie 17.08.2022 17:35
Summary: What is The Thor Coin Platform and how does it work? Advantages of the Thor Coin exchange. Thor Coin’s past, present and future price positions. Read next: Altcoins: GameCoin (GMEX) - What Is It? - A Deeper Look Into the GameCoin (GMEX) Platform  The Thor Coin Platform A multichain DeFi mechanism called Thor (THOR) distributes rewards and refunds to token holders. By exposing token holders to various multichain DeFi protocols and giving them the chance to explore and discover yield-generating solutions, the project, which is a yield farming protocol, seeks to deliver awards and daily passive returns from blockchain nodes. Yield farming is the practice of lending cryptocurrencies to platforms in an effort to maximize profits. The platform also aims to make use of a state-of-the-art node-as-a-service facility that offers consumers the chance to own a blockchain node without fuss or risk in order to produce returns and passive income. The block of data on the protocol where transactional information is recorded is referred to as a "blockchain node." The project also seeks to concentrate on engaging with various DeFi projects, staking pools, NFTs, and a variety of other carefully selected initiatives. To profit from every market situation, keep an eye out for bull and bear market trends. Thor aims to offer an unequaled yield potential by effectively combining the returns from protocol-owned liquidity with profits from DeFi protocols across numerous chains. In addition, the system was developed by veterans to generate passive revenue for the purpose of securing the future with a minimum amount of downtime. The project's native coin, THOR, has utility purposes including generating incentives via running nodes or apps. Additionally, THOR serves as a governance token to launch investments in projects that have been chosen by community vote. Thor Coin's fully diluted market capitalization is currently $34,735,047. There is a maximum supply of 20,456,743 THOR tokens. Advantages of the Thor Chain Platform 0.02 RUNE for each transaction, Synthetics are built on the THORChain platform, and they take over the network's fees. As a result, fees for each transaction are merely $0.02 RUNE. 5 Second Transactions, Depending on how rapidly new blocks are generated, transaction speed varies. Trading is quick on THORChain since transactions take only about 5 seconds. THORChain Liquidity Providers Will Receive a Higher Yield (LPs), An inflow of traders will come to THORChain as a result of affordable and quick transactions. A higher volume and more fees collected from more trades will result in a larger yield for the LPs. The development of financial instruments on top of THORChain will be made possible by THORfi — DeFi developed on THORChain Synthetics. Synthetics are required for savings, lending and borrowing, and ETFs. Consistent 20% Interest, Synthetics may be locked in vaults for a predetermined yield that automatically compounds to produce 20% interest. Loans with Self-Repayment, It will be feasible to utilize synthetics as collateral for lending and borrowing, where the debt gets automatically repaid as you go, if you want to better leverage your finances. Composites, a cover term for crypto ETFs, will be available for investors looking to diversify their portfolio. These are funds that will include various cryptocurrency combinations. The risk of investing in these funds will be lower. IBC Integration, It will be feasible to use BTC on Terra because Synthetics will be bridged to other IBC protocols. No Temporary Loss, One asset is all that is required to mint synthetics. This implies there is no risk of temporary loss and you are solely exposed to the price of the underlying asset. Much while synthetics are already amazing, the possibility of expanding upon them makes them even better. The possibilities of what you could do with them are endless, and this is only the beginning. They will alter how we play the DeFi game, that much is certain. Past, present and future prices of The Thor Chain network (THOR) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, THOR does fall under this category. According to some analysts, the future price of The Thor Coin network (THOR) could reach up to $24.48 by 2025 and could see a price of more than $148.09 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. THOR Crypto Price Chart Sources: coinmarketcap.com, coinbase.com, brokkrfinance.medium.com, technewsleader.com
The Sandbox Is Available On GitHub, The Norway's CBDC  Based On Ethereum Technology

Crypto: Ethereum Foundation Reminds Of Important Facts About The Merge! | 1 ETH To USD - Technical Analysis (18/08/22)

InstaForex Analysis InstaForex Analysis 18.08.2022 12:11
Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Ethereum Foundation wants the public and ETH investors to be aware that The Merge is a transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), not a reduction in gas charges: "The gas charges are the product of the network's demand [for services] in relation to its capacity," the organization said. The foundation explains that it is about changing the algorithm to PoS, which, however, "does not significantly change any parameters that directly affect the network capacity." While the transaction fees on the Ethereum network will not change after The Merge, users who want a lower fee for transfers will be able to take advantage of Tier 2 scaling solutions or wait for further updates in the Ethereum chain. After The Merge, the Ethereum Foundation will roll out The Surge, The Verge, The Purge and finally The Splurge. And it is the latter that aims to improve scaling with sharding technology. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is testing the technical support located at $1,819. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289046
Bullish Dollar Sentiment Prevails Amid CFTC Report and Rate Hike Expectations

What Does Anthony Hopkins Have To Do With NFT!? | Bitcoin Price - Technical Analysis - 18/08/22

InstaForex Analysis InstaForex Analysis 18.08.2022 12:00
Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Oscar winner Anthony Hopkins has teamed up with Orange Comet, Web3's startup creative studio, to create the actor's first NFT series, the Eternal Collection. "NFT is a blank canvas for creating art in a new format," Hopkins told reporters at an online press conference. "I'm probably the oldest guy in the NFT community and on social media, which proves that anything is possible at any age," he adds. According to the 84-year-old actor, metaverse "offers an amazing opportunity to connect with audiences in a completely different way." The Eternal Collection series is based on visuals inspired by 10 different roles that Hopkins has played in his film career - including Hannibal Lecter from The Silence of the Lambs and Odin in three Marvel films. According to Dave Broome, Orange Comet CEO, the NFTs will appear in mid-September. Part of the proceeds from the sale of tokens will be donated to a charity designated by Hopkins and his wife Stella Arroyave. Technical Market Outlook: The BTC/USD pair had broken below the key short-term technical support located at the level of $23,596. The momentum is now weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,679 is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289045
Analysis Of The Ripple (XRP) Price Movement

Cryptocurrency: (XRP/USD) Ripple - Technical Look And Expectations - 18/08/22

InstaForex Analysis InstaForex Analysis 18.08.2022 15:28
Relevance up to 11:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ripple was traded at 0.3757 at the time of writing. In the short term, the altcoin seems undecided. It continues to move sideways even though Bitcoin announced a potential deeper drop. XRP/USD is fighting hard to resume its leg higher but the near-term resistance levels stopped the bullish momentum. In the last 24 hours, Ripple has gone down by 0.62% and by 1.15% in the last 7 days. XRP/USD Extends Its Sideways Movement     XRP/USD is trapped between 0.3870 and 0.3592 levels. The buyers seem exhausted after failing to take out the near-term upside obstacles. Still, as long as it stays above the uptrend line, the altcoin can try to resume its growth. The descending pitchfork's upper median line (uml) represents dynamic resistance. Staying below it and making a new lower low may activate more declines. XRP/USD Forecast A new higher high and a valid breakout above the R1 (0.3920) may announce further growth and could bring new long opportunities. On the other hand, making a valid breakdown through the uptrend line and below 0.3592 could activate more declines.   Read more: https://www.instaforex.eu/forex_analysis/289059
Altcoins: DEEPMAZE Finance (DPZ) - What Is It? - A Deeper Look Into the DEEPMAZE Finance (DPZ) Platform

Altcoins: DEEPMAZE Finance (DPZ) - What Is It? - A Deeper Look Into the DEEPMAZE Finance (DPZ) Platform

Rebecca Duthie Rebecca Duthie 18.08.2022 16:53
Summary: What is The Deepmaze Platform and how does it work? Deepmaze’s past, present and future price positions. The DEEPMAZE Finance Platform Built on Binance Smart Chain, DEEPMAZE:DPZ is an auto-liquidity DeFi token supported by crowded pools. It fixes the DeFi ecosystem's issue with the liquidity, value, and discretion trilemma. The smart contract for DEEPMAZE performs three essential tasks: The liquidity is locked into the liquidity pools via an automated liquidity provision process. The developers have no discretion due to the architecture of ownerless community tokens. By providing holders with free token flows, crowdsourcing pool offers a novel way to address the valuation conundrum. The transactional architecture of DEEPMAZE is straightforward. DEEPMAZE is a community transaction. Every holder receives a portion of the crowdsourcing pool, after which a 5% liquidity fee is subtracted. The contract includes a lock on the collected liquidity charge. The concept of reflection-based passive staking served as the inspiration for DEEPMAZE. Although DEEPMAZE features an automatic liquidity mechanism (sell half and match), it also contains a crowded pool that is protected by contract, with users receiving payouts that are diminishing logarithmically. Users' transaction fees are thus reduced by half while maintaining the automatic liquidity and passive staking characteristics. They support open source and accountability. By BSCScan, every DEEPMAZE contract is validated. The entire source code is available online (MIT Licence). The current market capitalization of DEEPMAZE is $108,643. There is a maximum supply of 1 billion DPZ tokens, 22,580,230.00 are currently in circulation. Past, present and future prices of The Thor Chain network (THOR) DEEPMAZE hit their price peak late in January, at a price of $0.022. Since then the price has consistently fallen and is currently sitting low. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, DPZ does fall under this category. The future price of The DEEPMAZE Finance network (DPZ) is currently unavailable. In addition, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. DPZ Price Chart Sources: finance.yahoo.com, coinmarketcap.com
Crypto: Shocking Forecast! Could (ETH) Ethereum Price Fall After The Merge!?

Crypto: Shocking Forecast! Could (ETH) Ethereum Price Fall After The Merge!?

Alex Kuptsikevich Alex Kuptsikevich 19.08.2022 10:03
Market picture Bitcoin was almost flat on Thursday but started Friday with a 6% plunge, momentarily dropping to $21.5K. Ethereum is losing 4.5% overnight to $1760. Leading altcoins are down 7% (XRP) to 12% (Solana). Total crypto market capitalisation is down 4.2% to $1.07 trillion, according to CoinMarketCap. Bitcoin's fall below $22.5K is a formal break of the upward corridor of the past two months, as a sequence of increasingly higher local lows is broken. Currently, BTCUSD is testing the 50-day moving average, which could act as an uptrend indicator. The current dip has made the fight for the 200-week average, which is now near $23K, relevant again. Closing the week below this level risks triggering another round of liquidation. Altcoins are losing even more significantly, reflecting a dramatic shift in enthusiast sentiment from cautious buying to simultaneously locking in quick profits across a wide range of coins. Additionally, the weakening of global equity indices and the deteriorating macroeconomic backdrop is worrying factor. At the same time, the crypto market is no longer oversold but not yet attractive to long-term investors. We believe we will see similar sharp market movements again in the coming months. News background Arthur Hayes, former head of crypto exchange BitMEX, talked about two scenarios after Ethereum moves to the Proof-of-Stake (PoS) mining algorithm. If the fork is unsuccessful, ETH could fall sharply but hold above $800. If the merger is successful, an ETH rally should be expected, although it may be delayed, as in the case of bitcoin halving. Korean authorities are investigating 16 crypto exchanges that are accused of breaking local laws and providing digital asset trading services to Korean citizens. Tether, the issuer of the largest USDT stablecoin by capitalisation, has announced a partnership with accounting firm BDO Italia. Tether plans to move from reporting quarterly financial results to monthly reporting.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Crypto: Axie Infinity Shocks With Its Sales Numbers!

Crypto.com Accelerate the... Crypto.com Accelerate the... 19.08.2022 11:16
Crypto.com partners with Cronos-based marketplace Minted. OpenSea is changing its stolen NFT policy. Axie Infinity has surpassed US$4 billion in all-time sales. Key Takeaways Crypto.com partners with Cronos-based marketplace Minted, allowing Ethereum-based blue-chip NFTs to be listed alongside Cronos-based ones. The marketplace will support over 10 million NFTs across 2,800 projects. OpenSea is changing its stolen NFT policy following user outcry. In order to prevent false reports, the platform now requires a police report to be submitted within seven days of flagging an NFT as stolen. Axie Infinity has surpassed US$4 billion in all-time sales. Meanwhile, the game’s management is removing SLP rewards from the classic game mode, moving them to Axie Infinity Origin (V3) instead. X2Y2 recorded a -15% decrease in sales and a -35% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +36% and its transaction count also increased +37%. The total market cap for GameFi tokens now stands at US$9.96 billion, down -8% from last week. Crypto.com NFT in the Spotlight The “Own Every Word: School’s Out” drop features 200 new summertime words with an 8-bit animated background that will never be used again. A wizard and hapless group of comedians used magical cryptocurrency mumbo jumbo to transform a sacred text into Own Every Word, an NFT project that allows collectors to own all the words ever created. “Inferno” is an exploration of wildland fire fighting in the Pacific Northwest of the United States, and uses drones created to mimic the appearance of local wildlife. This project is created by Robert Chew, a concept artist with six years experience at Gearbox Software working on the Borderlands franchise (Borderlands 3) and Battleborn. NFT Highlights Yuga Labs to enable full licensing rights to CryptoPunks holders Pudgy Penguins NFT prices surge after creator unveils IRL toys Weekly NFT sales show improvement, Fantom and Immutable X NFT volume spikes Samsung signs MoU deal to give new NFT project offline utility Tencent halts NFT sales on its Huanhe platform amid regulatory scrutiny GameFi Highlights Sky Mavis’ Ronin sidechain expands to 17 validators to boost security UFO gaming rallied more than 130% after joining Neo’s $200M grant program GameFi company Murasaki closes €1.5M seed round led by Japanese Incubate Fund The ‘4 games – 1 token’ project Kingdom Quest announcing IDO and mainnet Why play-to-own is the next space to watch in Indonesia’s crypto gaming ecosystem NFT Transaction Benchmark     The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $273,300 Minted VVS Miner Mole $154,080 Magic Eden Okay Bears $692,655 OpenSea Bored Ape Yacht Club $6,421,058 GameFi Top Gainers & Losers     Top Games Metrics     Daily Gamers by Blockchain Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES NFT Source: NFT & GameFi (Week 32, 12/08/2022 – 18/08/2022) (crypto.com)
Bitcoin Maintains A Steady Bullish Potential

What Is IBTC? Monochrome Asset Management From Australia Creates A Crypto ETF

Daniel Kostecki Daniel Kostecki 18.08.2022 15:25
Australian financial firm to launch 'spot' crypto ETFsA few days ago, Australian asset management and advisory services firm Monochrome Asset Management became the first in the country to obtain an Australian Financial Services License (AFSL) from the regulator to create a crypto exchange-traded fund (ETF) Monochrome Bitcoin ETF under the ticker IBTC.Jeff Yew CEO of Monochrome Asset Management in an interview with Cointelegraph, announced that this is a major milestone for the local market, given that till now, crypto ETFs in the Australian market had to operate under asset authorization holding cryptocurrencies only indirectly.IBTC, under its AFSL licence, will be able to directly trade and hold tokens under Australian Securities & Investments Commission (ASIC) authorization. This will allow for more independent capital management. It will also provide the opportunity to directly influence the market and facilitate active investing. The latter is not a breakthrough for IBTC, which is intended to be a fund that invests rather passively, but for more aggressive asset managers, it could open up a range of new opportunities.The new license also offers investors greater capital protection based on ASIC 705 regulations - these include appropriate benchmarking against the spot price and depository arrangements in line with Australian regulations."The regulator's approval of this license variation represents a major step forward for both the advice industry and retail investors, allowing advisers to meet the market demands of their clients when it comes to the nascent crypto-asset class," - Jeff Yew said in a press statement."Investors investing in Monochrome's ETFs will know that their funds are investing directly in Bitcoin (BTC) and Ethereum (ETH), and importantly within the regulatory rails established by ASIC specifically for crypto-assets," - added the CEO, reassuring investors that they will not end up with just one crypto ETF.ETFs are instruments that could appeal especially to conservative and long-term investors. This could mean an opportunity for the market to see an influx of capital from a new class of investors who, through their investment perspective, can stabilize a highly volatile market.Today, most cryptocurrencies are seeing little daily price movement. As of 11:00 GMT+3, BTC is gaining 0.08% and ETH is losing 0.25%. Ethereum yesterday crossed the 10-day moving average and appears to be approaching the 20-day moving average, while BTC is already below the 20-day moving average.
The Bitcoin Price Movement Is In The Bullish Channel

BTC: Could Bitcoin Price Decrease To $17,600? Let's Have A Technical Look At BTC/USD - 19/09/22

InstaForex Analysis InstaForex Analysis 19.08.2022 12:57
Relevance up to 08:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Leading Chinese cryptocurrency mining maker Canaan has no problems with a local cryptocurrency ban as the company's overall performance continues to grow in 2022. Canaan officially announced its financial results for the second quarter of 2022, posting a 117% increase in gross profit for the same period of 2021. According to the company, Q2 profit was almost $ 139. The company's net profit for the second quarter was $ 91 million, an increase of 149% compared to the same period last year. Canaan noted that the second quarter foreign currency translation adjustment was income compared to the previous losses due to the appreciation of the US dollar against the RMB in the second quarter. "Despite significant gains, Canaan found the second quarter a difficult period with Bitcoin falling below $ 20,000 in June because off the lowered demand for our AI chips" - said CEO Nangeng Zhang. Zhang mentioned that Canaan is expanding its global presence by establishing an international headquarters in Singapore. The company is also working on scaling up its mining activities, generating more Bitcoins thanks to the improved power supply. Technical Market Outlook: The BTC/USD pair had broken below the 50% Fibonacci retracement level of the last wave up seen at $22,953. The momentum is still weak and negative on the H4 time frame chart, so a deeper correction towards the level of $22,428 (61% Fibonacci retracement level) is possible as well. Please notice, the Bitcoin market keeps moving inside the ascending channel, so the bullish impulsive wave scenario to the upside is now invalidated. If there is no sustained breakout from the channel, the bears might accelerate the sell-off and test the swing low seen at the level of $17,600 again.     Weekly Pivot Points: WR3 - $22,662 WR2 - $25,629 WR1 - $25,067 Weekly Pivot - $24,597 WS1 - $24,035 WS2 - $23,564 WS3 - $22,532 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289172
What Should We Expect From The Bitcoin Formation In The Near Future?

Crypto: Could We See Bitcoin Starting The Next Week At Ca. $20K?

InstaForex Analysis InstaForex Analysis 19.08.2022 13:12
Relevance up to 09:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin has been bearish since hitting the swing high of $25k. The first bearish signs came last week, but they quickly faded due to the descending triangle of intraday trading volumes and the unsuccessful retest of $25k. In addition, a row of negative fundamental factors exerted pressure on the crypto market. The US dollar index started to recover, while BTC-based crypto funds lost over $20 million last week.     As a result, digital gold plunged, broke through $23k, and bounced to $21.2k. The steep fall came after a bearish breakout through the range of $22.8k-$23.4k. Consequently, the price tumbled to $21.4k support.     A few more fundamental and technical factors have contributed to the fall in BTC. The FOMC Minutes hinted at the continuation of rate hikes. In addition, the number of long positions grew. The volume of bullish positions has been $1 billion higher than that of bearish positions. And the market, as you know, plays against the majority.     Consequently, the market capitalization of BTC fell by 3.5% in an hour and by 5.7% in a day. The rising wedge pattern headed down, as expected. The bullish trend that emerged on July 18 stopped when the price dropped to $21,4k. Even if bulls recoup losses, the main two bearish targets are still reached: the large volume of long positions was liquidated and the uptrend line was broken.     Speaking of a possible rebound above $23k, it is highly unlikely. Technical indicators show the continuation of the bearish trend. The Stochastic Oscillator formed a bearish crossover near 60 and nosedived to the oversold level near 18. The RSI gives no signals of an impending reversal. The MACD started to move down and could enter the red zone soon. These factors reflect bearish power and the likelihood of a retest of $20k.     On the 4-hour chart, there are the first signs of a recovery. The Stochastic Oscillator shows a bullish crossover in the oversold zone. The indicator has already reached the mark of 22 and is now moving up. The RSI, however, is moving down. Thus, we have a divergence, which means that a bullish impulse is unlikely. Bitcoin has reached a point where low trading volumes make it impossible to defend major support levels. Should the current trend go on, next week would kick off with a retest of $20k.   Read more: https://www.instaforex.eu/forex_analysis/319391
Ethereum Could Drop Deeper As The Bias Remains Bearish

Breaking: You Can Pay For Fuel With Crypto At Some Gas Stations In Australia! Technical Analysis Of ETH/USD - 19/08/22

InstaForex Analysis InstaForex Analysis 19.08.2022 13:05
Relevance up to 08:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The well-known Australian gas station brand On The Run (OTR) has today launched a cryptocurrency payment service at its 175 points. They are located in Victoria, South Australia and Western Australia. This is a consequence of establishing cooperation between the OTR company and the Singapore cryptocurrency exchange and DataMesh - the national provider of payment systems. The stock exchange is responsible for providing the Pay Merchant service as a payment settlement layer, and Datamesh supplies the points of sale with terminals. The next steps that OTR's parent company, Peregrine Corp, intends to take are the introduction of cryptocurrency payments at another 250 retail outlets in Australia. We are talking about places such as Subway, Oporto and Krispy Kreme. Mohan also announced that Crypto.com does not charge additional fees for transactions carried out in this situation. However, a top-down fee will be charged on the part of the seller who will set the rates for the products and services himself. It looks like the transaction costs will be equal to the cost of paying with a fiat card. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is broke below the technical support located at $1,819. At the time of writing the analysis, the new local low was made at the level of $1,805. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289174
The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

Crypto: Ethereum (ETH) And Bitcoin (BTC) Start Losing? Filecoin (FIL) Sheded Almost 18%!

Conotoxia Comments Conotoxia Comments 19.08.2022 14:57
Since the beginning of July, the crypto market seemed to be on the rise. The largest tokens (BTC and ETH) at the local peak, gained around 35% and 101% respectively. However, today at 11:30 GMT+3 BTC is losing around 7.3% and ETH around 8%. Today, ETH broke through its price channel and the 20-day moving average. If the price does not return to the channel in the next couple of days, we will be able to say that a possible reversal of the short-term trend we mentioned in previous articles has taken place. Especially if this is confirmed by indicators such as the Wilder directional indicator. BTC has also moved far out of its price channel and is currently below the 10, 20 and 50-day moving averages. The directional indicator has already shown a potential trend reversal and the MACD is approaching the negative zone. Today on the Conotoxia MT5 platform at 11:00 GMT+3, Filecoin (FIL) is down the most. It is experiencing a loss of almost 18%. According to Coinmarketcap, it has a capitalisation of almost $1.8 billion and a daily volume of over $511 million. Filecoin was launched in 2020 to decentralise data storage, providing an alternative to industry giants such as Amazon and Alibaba at a cost reduction of almost 99%. The project's network connects storage providers with customers looking for a place to keep their data. Those offering their storage from laptops to server rooms after verifying data integrity and security can obtain a FIL token as a reward. This creates a highly diversified and low-cost database network. However, the characteristics of the project are inherently inflationary, unlike BTC. The declines described are attributed to a broad market correction, the exit of 'big money' and growing pessimism about the increasing supply of FIL tokens. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: The crypto market falls as profits are realised
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

5 Cryptocurrencies To Keep A Watch On: SORA (XOR), Wrapped Bitcoin (WBTC), renBTC (RENBTC), GALA (GALA), Filecoin (FIL)

Rebecca Duthie Rebecca Duthie 19.08.2022 16:14
Summary: A summary of XOR, WBTC, renBTC, GALA, Fil. Proof of work, proof of stake, proof-of-history, proof-of-replication. Blockchain gamine, supranatural economic system. The SORA Platform The SORA platform is about the creation of a supranational economic system that efficiently provides capital to its users, thus, giving humanity a push forward as well as a supranational and democratic governance structure that allocates capital fairly. It is a system with two functions, the first is a new economic system that has decentralised the concept of a central bank, and secondly, it is a network that implements a new way to architect a parachain blockchain which connects to the Polkadot relay chain and ecosystem with built-in tools that focus on decentralised finance (DeFi). The SORA platform makes use of a substrate network which bridges Ethereum and will bridge Bitcoin to make cross-chain communications with both blockchains possible, whilst connecting to both Polkadot and Kusama. The SORA Parliament is the governance structure that is used for the SORA network, one of its main tasks is to allocate any newly minted XOR towards productive projects. Read more: Altcoins: SORA (XOR) - What Is It? - A Deeper Look Into the SORA (XOR) Platform  The Wrapped Bitcoin Platform Wrapped Bitcoin is the tokenized version of Bitcoin (BTC) that runs on the Ethereum blockchain, in other words it is an ERC-20 token. Through a WBTC partner, one Bitcoin (BTC) can be converted into one WBTC (and vice-versa). Wrapped Bitcoin also makes the job of the exchanges, payment services and wallets much easier that work with Ethereum, this is because the exchanges do not need to run two separate nodes of BTC and ETH networks, instead they can support WBTC operations just through the use of Ethereum node. The advantages of WTBC have aided the growth of Wrapped Bitcoin (WBTC), they have also helped construct a new sector within the crypto industry. Nowadays, more investors than ever wish to utilise WTBC services. Read more: Altcoins: Wrapped Bitcoin (WBTC) - What Is It? - A Deeper Look Into the Wrapped Bitcoin (WBTC) Platform  The renBTC platform renBTC is a ERC-20 token that runs on the Ethereum blockchain, RENBTC tokens are pegged to Bitcoin (BTC). Each RENBTC token can always be exchanged for 1 BTC, hence the RENBTC seems to maintain its value at a market rate close to Bitcoins. renBTC is minted on the Ren platform, Ren is an open protocol which allows everyone access to the inter-blockchain liquidity this function helps bring assets from other blockchains to Ethereum decentralised applications (DApps). The renBTC is a direct competitor of Wrapped Bitcoin (WBTC). Unlike other tokens that are backed by Bitcoin, renBTC is not a synthetic token and it is not reliant on any liquidation mechanisms to ensure that its value remains pegged to Bitcoin’s value, instead it is a direct supply peg, this means there are always enough BTC in a reserve to cover the circulating renBTC supply. Read more: Altcoins: renBTC (RENBTC) - What Is It? - A Deeper Look Into the renBTC (RENBTC) Platform  The GALA platform Gala Games wants to change the gaming landscape by returning ownership of the gaming experience to the gamers. Making "blockchain games you'll actually want to play" is Gala Games' goal. The goal of the project is to make it so that gamers can no longer spend hundreds of dollars on in-game items and endless hours playing games that can be taken away from them at any time with the push of a button. By providing players authority over the games and in-game assets with the aid of blockchain technology, it aims to bring back creative thinking in gaming. Gala Games is not just one game; rather, it provides a wide selection of several blockchain games that prioritize pleasure above blockchain. Town Star, the sole playable game at the moment, is a browser-based simulation of a town. Similar to SimCity's gameplay, players of Town Star truly own the town they are managing. Read more: Altcoins: GALA (GALA) - What Is It? - A Deeper Look Into the GALA (GALA) Platform  The Filecoin platform The mission of Filecoin is to "store humanity's most critical knowledge" in a decentralized database. The project's initial coin offering (ICO) garnered $205 million in 2017, and its mid-2019 launch date was once anticipated. The debut of the Filecoin mainnet, however, has been postponed until block 148,888, which is anticipated in mid-October 2020. Decentralised data storage is the goal of Filecoin. In contrast to centralised cloud storage providers like Amazon Web Services or Cloudflare, Filecoin uses its decentralised nature to safeguard the integrity of a data's location, making it simple to retrieve and difficult to censor. Proof-of-replication and proof-of-spacetime are used to protect Filecoin. In the Filecoin network, retrieval miners, also known as nodes, compete to provide data to clients as quickly as possible. A network of nodes that desire to duplicate and maintain files is thus encouraged by the payment of FIL fees. Read more: Altcoins: Filecoin (FIL) - What Is It? - A Deeper Look Into the Filecoin (FIL) Platform  Sources: fxmag.com
Bitcoin Maintains A Steady Bullish Potential

Crypto: Bitcoin Price (BTC/USD) - Technical Analysis - 20/08/22

InstaForex Analysis InstaForex Analysis 21.08.2022 11:59
Relevance up to 15:00 2022-08-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Trading Cryptocurrency BTC/USD (Bitcoin) : Bitcoin price prediction : Remember that Cryptocurrencies are the new money! so, Bitcoin is really a great fortune. Hence, our target $30,000 in the next few weeks. Today, BTC/USD is trading below the weekly pivot point $22 k. Because BTC/USD broke support which turned to a minor resistance at the price of $22,462 last week in 2022. The price of $22,462 is expected to act as major resistance in the first week of August 2022. As long as there is no daily close below $22,462, there are no chances of a fresh increase below $22,462 (R1) in the H1 time frame. The support levels will be placed at the prices of $20,804 and $20,000. As long as there is no daily close below $22,462, there are chances of breaking the bottom of $20,804. The volatility is very high for that the BTC/USD is still moving between $22,462 and $20,000 in coming hours. As a result, the market is likely to show signs of a bullish trend again. Hence, it will be good to sell below the level of $22,462 with the first target at $20,804 and further to $20,000 in order to test the weekly last bearish wave. However, if the BTC/USD is able to break out the daily resistance at $22,462, the market will decline further to $30,000 to approach resistance 3 in coming days. Daily Forecast : Pivot Point : $22,462. As we know that : 1 BTC ---> $21,260 approximately. 1 ETH ---> $1,627 approximately. It follows that : 1 ETH ---> 0,0765286923800564 BTC. Thereby, one Ethereum is only worth 0,0765286923800564 Bitcoin (August 20, 2022). Forecast : According to the previous events the price is expected to remain between $22,462 and $20,00 levels. Sell-deals are recommended below $22,462 with the first target seen at $21,000. The movement is likely to resume to the point $ $20,804 and further to the point $20,000. Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small bullish correction.   Read more: https://www.instaforex.eu/forex_analysis/289326
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Will CME Group Manage To Launch Ether Futures? Samsung - "(...) The Most Active Investor In Blockchain Companies Since September 2021."

Crypto.com Accelerate the... Crypto.com Accelerate the... 22.08.2022 08:38
ETH options skew rises as traders bid up puts with The Merge closing in. ETH perpetual futures funding rates are printing negative. BTC technicals look shaky as it crosses key moving averages to the downside. Chart of the Week: Shopping for ETH Puts ETH options put skews (puts minus calls) dropped precipitously back in mid-July 2022, when Ethereum developers announced a soft target date of September for The Merge, as traders placed their bets on a price surge by dumping puts for calls. However, since then, put skews have been quietly crawling back up, and the 1-week skew has currently spiked up to the highest level since mid-July. Puts are being bid up – ETH did skyrocket by 78% (as of 21 August) since The Merge target date was announced in July, and the increased bidding intensity for puts is perhaps a sign of traders looking to manage risk of an ETH reversal.     Fund Flow Tracker Aggregated exchange balance of BTC has dipped sharply over the past 3 weeks, reaching a new yearly low, while ETH’s has been relatively stable.         Derivatives Pulse Implied vols and skews (puts minus calls) spiked during the past week. 1-week implied vol currently stands at 74.1% (vs. 58.7% a week ago) and 104.8% (vs. 84.8% a week ago) for BTC and ETH, respectively. The ETH put-call ratio has also been ticking up recently.                 ETH perpetual futures funding rates printed mainly negative over the past week, while BTC’s remained in positive territory.         Asset managers’ net-long position in CME Bitcoin futures remains at an elevated level, and leveraged traders’ net-short position is near the lowest level YTD.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking The positive technical picture that has been in place for the past one month is starting to look shaky, with BTC recently crossing the 10-day and 50-day moving averages on the way down.     Price Movements         News Highlights CME Group, the world’s largest financial derivatives exchange, announced its plans to launch options on Ether futures on 12 September, pending regulatory approval. Canada’s second-largest pension fund, CDPQ, has written off its US$150M investment in crypto lender Celsius. Crypto.com receives registration approval as a cryptoasset business from the UK Financial Conduct Authority (FCA). In other Crypto.com related news, the exchange reduces trading fees by up to 80%. A recent poll from Reuters has most economists predicting a 50 bps interest rate hike from the U.S. Fed at its next meeting on 21 September. Samsung has been identified as the most active investor in blockchain companies since September 2021. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES Source: Market Pulse (Week 33, 15/08/2022 – 22/08/2022 (crypto.com)
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Extreme Volatility On Crypto Market! Bitcoin Price (BTC/USD) - Technical Analysis - 22/08/22

InstaForex Analysis InstaForex Analysis 22.08.2022 10:27
Relevance up to 10:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Federal Bureau of Investigation (FBI) explained the origin of the colloquial name. It is about "the way fraudsters feed their victims with promises of wealth before they take all their money." As vividly added Lakewood Public Information Officer John Romero, the term "basically refers to a farmer fattening a pig before slaughter." The police officer explained that it all starts with social media or dating sites. Criminals mainly use Linkedin and Tinder. There they find and convince their victim to donate some funds to them. Then they place the funds on a cryptocurrency wallet. They also show the victim that digital currencies are gaining in value, causing them to deposit more money into their account. Then the scammer disappears with lots of cryptocurrencies. According to one of the people who fell victim to criminals, she was initially able to make several withdrawals from the cryptocurrency wallet without any problems. So everything looked legal. Suddenly, however, she received a message stating that she needed to deposit over $ 204,000 in order to access the funds. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410.     Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289416
Bitcoin Is Showing The Potential For The Further Downside Rotation

Will Bitcoin Price (BTC/USD) Be Trading Sideways?

InstaForex Analysis InstaForex Analysis 22.08.2022 10:40
Relevance up to 09:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin has completed a sluggish upward trend that originated after the formation of the local market bottom. The price has pulled back to the $21k–$22k level, where a large cluster of long-term investors accumulating Bitcoins are concentrated. The upward movement of the cryptocurrency was built around illusory desires to see a $30k retest and start a new stage of recovery. However, if you look at the weekly chart of the cryptocurrency, it becomes clear that the upward trend of the asset until mid-August looked very unconvincing.     On the weekly chart, Bitcoin has formed a "bearish engulfing" pattern, which indicates that the downward momentum will continue in the near term. However, judging by the trading volumes, this pattern was formed due to a decrease in overall trading activity, and buyers in particular. Despite the negative end of the previous week, technical indicators in the weekly perspective point to price consolidation rather than the second stage of a major fall. The Stochastic and the RSI are moving flat, as is the MACD moving below zero. Technical metrics indicate that Bitcoin has no reason to start a powerful upward trend in the medium term.     On the daily chart, the situation is somewhat more complicated. Despite a sharp recovery from the fall, technical metrics hint at a likely second stage of decline. In particular, the stochastic oscillator was falling to the overbought zone, where it tried to reverse. However, in the end, the metric completes the implementation of another bearish crossover. The RSI also starts to drop below 40, indicating growing selling volumes. The MACD indicator also enters the red zone and moves below the zero mark. These factors indicate the predominance of sellers at the current stage, and hence the continuation of the downward price trend.     As a result, the US dollar index, which has an inverse correlation with Bitcoin, has significantly strengthened. However, this factor may be overestimated due to the overall macroeconomic environment. Investors are in the process of developing an acceptable trading strategy that will allow them to capitalize in an environment of high inflation and the risk of stagflation. This is the reason for the low trading volumes. However, there is no doubt that an investment strategy will be developed, and the deflationary potential of Bitcoin will play an important role.     The second factor influencing the price reduction is the capitulation of the miners. Bitcoin mining companies, as of August 22, have sold most of the BTC coins they received in July. Since the beginning of August, at least 6,000 coins have been transferred to exchanges. At the same time, there is reason to believe that the capitulation of miners is gradually coming to an end. This opinion was shared by Charles Edwards, founder of the Capriole Investments firm. The entrepreneur believes that the current capitulation of mining companies has already become the third longest in history. Most likely, this is a sign of its completion in the coming months.     Despite the local negative situation and the likely retest of $20k, Bitcoin is gradually approaching the end of the main phase of the bear market. At the same time, it is too early to talk about the beginning of a recovery movement since the coin does not have fundamental factors for growth. With this in mind, in the short term, we are waiting for another fall in the price of BTC. In the medium term, we should expect the trend in the cryptocurrency price movement to continue within a wide range of fluctuations of $20k–$25k.   Read more: https://www.instaforex.eu/forex_analysis/319522
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

🟥Watch Out Crypto Fans! Ethereum Price May Catch You By Surprise!

InstaForex Analysis InstaForex Analysis 22.08.2022 10:46
Relevance up to 10:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: About six years after Ethereum Classic miners excavated the first ETC block at block 1,920,000, the ETC hashrate reached the new ATH on August 20, 2022. The Hashrate ETC was 38.37 TH / s at block height 15 776 674. Hashrate joined the ETC chain over time, Ethereum is getting closer and closer to the Merge update scheduled for September 15, 2022. Four days ago, on August 17, the ETC hashrate was 27.56 TH / s and has increased by 39.22% since that day . The largest ETC mining pool is Ethermine, controlling 8.05 TH / s, and the next with 8.02 TH / s is Poolin. The combined hashrate of Ethermine and Poolin of around 16 TH / s is over 40% of the global ETC hashrate. The Ethereum Classic was launched after the 2016 DAO hack and the first ETC block was excavated on July 20, 2016. ETC supporters believe this is the original unchanged Ethereum Blockchain as the DAO hard fork wiped out the Blockchain event. Committing to proof-of-work, the developers of Ethereum Classic removed the "difficulty bomb" from the ETC chain at a block height of 5,900,000. While Ethereum Classic saw a significant jump in its hashrate rate, other Ethash-based token networks such as Ravencoin, Ergo, and Beam saw no significant increases in hashrate. The Nora's Ethereum Classic hashrate level record is thus in line with many predictions that the ETH hashrate would transfer to the ETC. Last week, JPMorgan's market strategists predicted ETC would likely be one of The Merge's main beneficiaries. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289418
Oh My! Crypto Market Decreased By $150 Billion! CME Group Is Said To Launch (ETH) Ether Futures

Oh My! Crypto Market Decreased By $150 Billion! CME Group Is Said To Launch (ETH) Ether Futures

Alex Kuptsikevich Alex Kuptsikevich 22.08.2022 13:03
Market picture Bitcoin has declined 12.2% in the past seven days, trading at $21,500. Ethereum has lost 17.8%, down to $1560. Other leading altcoins from the top 10 have fallen from 7.8% (BNB) to 22% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, dipped below $1 trillion over the weekend, losing $150 billion over the week. Near this level, the crypto market lingered in mid-year and early 2021. Bitcoin's inability to develop growth above $25K showed that in the previous two months, we had only seen a rebound in a falling market, but not the start of a rapid recovery. BTC is showing negative technical signals, having fallen below its 200-week moving average, now passing around $23K. Most of Bitcoin's decline came on Friday, and its catalyst may have been a drop in stock indices. After four weeks of gains, the S&P 500 began a correction, with its biggest fall in almost two months. Pressure on risky assets came from the minutes of the US Federal Reserve's July meeting published on Wednesday, which showed the regulator's determination to fight inflation. Having broken the upward channel support, BTCUSD is now stomping around $21K, where the price direction has reversed four times in the past four months. News background The recent announcement by the US House of Representatives Energy and Commerce Committee that lawmakers are "deeply concerned" about the popularity of Proof-of-Work cryptocurrency mining may have affected the negative market dynamics. The members of Congress requested four mining companies to provide data on the environmental impact of their activities. The European Central Bank (ECB) outlined its plan to license cryptocurrency activities and create a regulatory framework governing the industry in the EU. On 12 September, the Chicago Mercantile Exchange (CME) will launch options on Ethereum futures ahead of The Merge. This will happen after regulators approve the initiative. Finally, the Accounting firm BDO Italia has provided an opinion on the adequacy of Tether Holdings' reserves to collateralise the USDT stablecoin fully.
Binance Academy: "How to Add Fantom to MetaMask?"

Altcoins: Fantom (FTM) - What Is It? - A Deeper Look Into the Fantom (FTM) Platform

Rebecca Duthie Rebecca Duthie 22.08.2022 14:35
Summary: What is The Fantom Coin Platform and how does it work? Advantages of the Fantom Coin exchange. Fantom Coin’s past, present and future price positions. Read next: Altcoins: GameCoin (GMEX) - What Is It? - A Deeper Look Into the GameCoin (GMEX) Platform  The Fantom exchange Using its unique consensus mechanism, Fantom is a directed acyclic graph (DAG) smart contract platform that offers developers decentralized financial (DeFi) services. Fantom, which claims to have decreased transaction times to under two seconds, intends to address issues with smart-contract platforms using its proprietary coin FTM. The Fantom Foundation, which is in charge of the company's product line, was established in 2018, and OPERA, Fantom's mainnet, is scheduled to launch in December 2019. Fantom was developed as an Ethereum substitute and is an open-source decentralized smart contract platform for DApps and digital assets. By balancing scalability, security, and decentralization, Fantom hopes to overcome the drawbacks of earlier blockchain generations. In addition to a comprehensive staking incentive structure and integrated DeFi instruments, the project provides a set of tools to make the process of integrating current DApps simpler. Fantom is a Layer-1 blockchain that makes use of an independent consensus layer called Lachesis as well as a consensus mechanism that was designed from scratch to enable DeFi and associated services based on smart contracts. Other layers, like as Opera, Fantom's EVM-compatible smart contract chain, are also secured using Lachesis. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.” One of Fantom's main advantages is its speedy transaction processing, which can handle thousands of transactions per second, settle them in one to two seconds, and only cost a few cents each transaction. Fantom offers greater scalability as a result, yet at a lesser price. Lachesis protocol and Opera are the two key technologies that make up the ecosystem. The Fantom network is protected by the main consensus layer, Lachesis, which offers both transaction speed and security. An aBFT consensus engine called Lachesis employs the directed acyclic graph (DAG) algorithm. The network screens the participants, allowing only one third who are assigned due to incorrect or harmful behavior, without impairing network activities. Network data can be analyzed at various periods. The Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus technique used by Fantom ensures that the entire network operates efficiently while providing optimum security. The PoS method, according to the authors of Fantom, is a leaderless phenomena; there are no leaders of blocks or players, and anyone is free to join (or leave) the network of nodes whenever it suits them. Asynchronous, leaderless, Byzantine fault-tolerant, and nearly instantaneous finality are some of Lachesis' important characteristics. Opera is a permissionless, open-source application development layer or Fantom's mainnet deployment platform that hosts DApps. Fantom features a comprehensive set of smart contract capabilities thanks to EVM integration and support for the Solidity programming language, allowing users to smoothly connect with Ethereum platforms while keeping the benefit of Fantom's transaction efficiency. Opera adopts a PoS paradigm and leaderless validators because the Fantom Foundation found that removing block leaders enhances network security (validators do not determine which blocks are valid). Fantom is a fast, safe, and affordable payment network that enables users to send money quickly and securely for a low cost. It also has on-chain governance, where users can cast votes using FTM tokens (one token equals one vote). Users have the option to rate their agreement or dissatisfaction with the features on a scale from 0 to 4. Fantom's native utility in-house PoS coin, or FTM, is used for payments, network fees, staking, and governance throughout the ecosystem. FTM serves as the foundation of transactions and enables fee collection, staking, and the user benefits that latter activity implies. The current market capitalisation for Fantom is $739,363,515. There is a maximum supply of 2,545,006,273 FTM tokens, 2.55 billion of them are currently in circulation. Past, present and future prices of The Fantom network (FTM) The price of Fantom coin took more than 2 years to rise, the price saw an bullish trend throughout 2021 and reached its peak in early January of 2022, at a price of $3.008. Thereafter its price has been on a consistent downward trend to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FTM does fall under this category. According to some analysts, the future price of The Fantom network (FTM) could reach up to $1.16 by 2025 and could see a price of more than $8.14 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FTM Price Chart Sources: finance.yahoo.com, coinmarketcap.com, stormgain.com
Soybean and Wheat Markets React to USDA's Latest Crop Projections

Crypto: Bitcoin (BTC) And Ethereum (ETH) Are Losing In Value!?

Conotoxia Comments Conotoxia Comments 22.08.2022 17:20
The average bitcoin payment fee recently fell below $1 for the first time in years. Transaction fees are needed to enable crypto intermediaries to operate, but they are hampering the adoption of payment solutions, affecting small payments in particular. Because the network is expensive to maintain due to its energy-intensive nature, commissions have been able to shoot up many times, for example, Ethereum commissions during the NFT hype. This is even more painful for transfers of small sums. This is why new technological solutions are so important. Here comes ethereum's Merge and payment solutions for bitcoin (Lightning Network and Taproot overlays), which are already revolutionising the world of crypto payments. They allow settlements to be faster, less energy-intensive and less expensive. The current average transaction fee for BTC payments has fallen below $0.825 - the lowest since 13 June 2020, ETH below $0.64, and is likely to be even cheaper. Their decline is not only a reason for the ever-improving technology, but also the recent crash of tokens, NFTs and an increase in the ease of mining in the long term. However, current energy and cryptocurrency prices may cause a short-term decline in mining activity. Many have already suspended operations or exited the crypto world. This can be seen in particular through the massive sale of mining rigs and used computer hardware (especially graphics cards). ETH, BTC and most tokens seemed to continue their declines. ETH and BTC prices are below the price channel and in the absence of a return above its bottom line, we can probably already speak of a short-term trend reversal. ETH has found its support on the 50-day moving average for now, while BTC has already crossed it. Moreover, the technical indicators (RSI, MACD and ADX) do not indicate a reversal of the short-term trend either. Declines in the major stock market indexes, hawkish announcements from the FED and further pessimistic data from the economy seem to be putting a lot of pressure on crypto. RafaÅ‚ Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: BTC and ETH payments getting cheaper. Will Cryptocurrencies experience further declines?
The CryptoVerse Expo # 2 Poland will be held on September 9 at the Kinoteka in Warsaw

The CryptoVerse Expo # 2 Poland will be held on September 9 at the Kinoteka in Warsaw

Finance Press Release Finance Press Release 22.08.2022 18:34
On September 9, 2022, the second edition of the CryptoVerse Expo will take place at the Palace of Culture and Science (PKiN) in Warsaw. The event will bring together experts, enthusiasts and influencers, as well as representatives of projects related to the world of blockchain. During the event, participants will attend lectures and debates and meet with experts from the digital asset industry. CryptoVerse Expo #2 Poland CryptoVerse Expo is a conference, fair, and after party, during which each participant will have the opportunity to meet the most important representatives of both the Polish and foreign blockchain industry. It is also an opportunity to establish contacts and gain invaluable knowledge from experts, project developers, and industry enthusiasts. This edition will be an international event during which one of the lecture halls in Warsaw's Kinoteka will be reserved just for lectures in English. The success of the previous edition and the people's interest in the upcoming event allows assuming that over 3000 people can take part in the September edition. The experience gained so far from the previous edition of CryptoVerse has shown great interest on the part of exhibitors and projects from the blockchain industry. The community showed commitment and popularized the event, which gives us the basis to conduct this event periodically. We are proud to put Warsaw on the map of global crypto events. #CRYPTO #METAVERSE #BLOCKCHAIN #WEB3 #NFT The September edition of the CryptoVerse Expo will be even more unique thanks to the Startup Pitching Contest for blockchain projects. The event will be crowned with the After Party for all participants, where you can meet people from the industry in a relaxed atmosphere. Registration for the event is possible at the official website www.cryptoverseexpo.com. Right now, you can reserve your seat at CryptoVerse Expo for free. See you on September 9 in Warsaw!  
Crypto: Bitcoin (BTC) And Ethereum (ETH) Situation. Is It Just An Run-Up?

Crypto: Bitcoin (BTC) And Ethereum (ETH) Situation. Is It Just An Run-Up?

Saxo Bank Saxo Bank 22.08.2022 19:15
Summary:  On Friday, crypto long positions worth north of $500mn were liquidated, as fatigue spread in the crypto market. Not helping was speculation that exchanges may be forced to censor certain transactions on Ethereum in the future. Speaking of transactions, the demand for them on Bitcoin and Ethereum has decreased significantly, weakening the fundamentals of particularly Ethereum. Traders standing in line to be liquidated The crypto market, notably Ethereum, recovered partially in July and August until last week. From a low of 17,600 (BTCUSD) and 880 (ETHUSD) in June, Bitcoin and Ethereum surged to a local high of 25,200 and 2,030 on the 15th and 14th of August, respectively. Following new local highs, the market was seemingly becoming exhausted last week. Since then, Bitcoin has plunged by 15.6% to 21,270, whereas the Ethereum price has declined by 23.3% to 1,565. On mainly Friday, crypto derivative exchanges saw red. On this day, long positions were liquidated worth a combined $562mn in 24 hours. This is almost as much as the day in June, when Celsius halted withdrawals, even though the market movement to the downside was larger in June. This means that the crypto market has been extremely leveraged to ride the uptrend the past month and that party came to a halt on Friday. It seems that traders have particularly leveraged Ethereum trades going into the merge. Can exchanges censor certain Ethereum transactions? Two weeks ago, the US sanctioned the most used mixer on the Ethereum network called Tornado Cash. The latter has often been linked to money laundering; however, it was frequently used by private individuals to engage with the Ethereum network privately. The Tornado Cash protocol cannot by default be shut down, since it is a smart contract, so the sanctions involve that no US person or entity is allowed to engage with transactions originating from Tornado Cash. Afterward, speculation arose about what could possibly be next in line to be sanctioned. The ultimate sanction could be to censor certain Ethereum transactions, thus possibly shutting down the Tornado Cash protocol for good. At the moment, it would not be possible for governments to directly censor such transactions, however, it might be possible for them, as soon as Ethereum adopts proof-of-stake instead of a proof-of-work framework in the middle of September, known as the merge. This is because the majority of the Ether staked, hence Ether used to verify transactions, is done through exchanges or other intermediaries by clients handing over their Ether to these companies for them to verify transactions on Ethereum. For instance, Coinbase handles close to 15% of the total amount of Ether staked. Governments can technically make Coinbase adhere to such sanctions by ensuring it does not verify transactions related to Tornado Cash on a network level. Without going into too many details, in our opinion, it is very unlikely that this will occur, both from a societal and technical point of view. Yet, if it in reality occurs, then everything in the industry is at risk since the main selling proposition is full decentralization without intermediaries. In case certain transactions are ruled out from the network, we need to look ourselves in the mirror and ask if this industry has then anything to offer at all. The speculation in this matter did arguably contribute negatively to the price development of Ethereum in the last week. Brian Armstrong, Coinbase’s co-founder and CEO, commented on this on Twitter last week. Here, he said that Coinbase would possibly exit its staking operations if governments came to enforce the sanction of transactions on-chain, as Armstrong stated, “to focus on the bigger picture” by keeping Ethereum decentralized. If all staking providers do this, then it will presumably not be a problem, as the network will be kept online by solo stakers. When prices drop, fees follow suit For the majority of the year, the crypto prices have been on a downward trajectory. Transaction fees paid on particularly Bitcoin and Ethereum have followed suit. In November last year, Bitcoin generated around $500,000 - $1mn in fees daily, while Ethereum set at around $50mn - $80mn in transaction fees daily. Now, Bitcoin averages around $150,000 - $300,000 daily, while Ethereum sits at around $2mn - $3mn daily. This emphasizes that most activity on Bitcoin but primarily Ethereum is highly speculative and strictly linked to the prices of cryptocurrencies. Source: Token Terminal For Bitcoin, there are no direct consequences of lower total transaction fees in the near term. However, it might have consequences in the next decades, since the network might not be able to sufficiently compensate miners. For Ethereum, the lower transaction fees result in less Ether burned, effectively meaning less is removed from the supply. This makes the fundamentals of Ethereum weaker. For instance, Ethereum has for the past year burned 4.71 Ether per minute from transaction fees, whereas it has only managed to burn 0.89 Ether per minute in the past 30 days. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group   Source: Crypto Weekly: Leverage is the language of crypto
Crypto Market Survived A Dramatic Loss! Guo Seems To Prefer PoW Ethereum To Proof-Of-Stake!

Crypto Market Survived A Dramatic Loss! Guo Seems To Prefer PoW Ethereum To Proof-Of-Stake!

Kucoin Blog Kucoin Blog 23.08.2022 12:57
Most of the cryptocurrencies ended up in the heavy red over the past week, with most reaching double-digit losses. The overall cryptocurrency market volume in the past 24 hours came up to $60.83 billion - a drastic drop of over $17 billion from the past week. The overall crypto market cap decreased slightly compared to the previous week, coming up to $1 trillion, a slight decrease from the previous week’s $1.15 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's dominance has remained below the 40% mark but increased slightly to 39.31%. This came as a result of BTC outperforming the top cryptocurrencies by making a smaller downturn. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $21,293.62, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to $1,570.88, down 18.92% in the last week.   The top performers from the previous week were EOS (EOS) and Chiliz (CHZ), while the rest ended their week in the red. EOS has increased by 19.74% to $1.51, while CHZ gained 7.54% in the past seven days.   Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, Lido DAO (LDO), Near Protocol (NEAR), and Curve DAO Token (CRV) were the worst performers of the week. LDO is down 31.27% to $1.91; NEAR is down 26.63% in the last seven days; CRV is down 26.17% to $1.   Top Altcoin Gainers and Losers Top Altcoin Gainers: EOS (EOS) ➠ 19.74% Chilliz (CHZ) ➠ 7.54% Top Altcoin Losers: Lido DAO (LDO) ➠ 31.27% Near Protocol (NEAR) ➠ 26.63% Curve DAO Token (CRV) ➠ 26.17%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum 2.0 Merge in the Limelight, PoW Ethereum the Talk of the Town The Ethereum blockchain is on track to make its highly anticipated transition from its current Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) one. The Merge date is officially scheduled for Sept. 15–16 after the successful final Goerli testnet integration to the Beacon Chain on Aug 11.   However, not everything is going smoothly, as a group of miners and PoW supporters have announced that they will opt to hard fork Ethereum and continue operations on the new version. Chandler Guo, a Bitcoin (BTC) miner, was among the first to bring out a case for the PoW Ethereum chain post-Merge. In a tweet on July 28, Guo shared with the public a screenshot of Chinese miners saying that PoW Ethereum is coming soon.   However, Vitalik Buterin has denounced those who are in favor of PoW Ethereum, claiming that the move is just a ploy for miners to make easy money without benefiting humanity - especially after them declining to move to ETC, a Proof-of-Work Ethereum fork from 2016.   Cardano Testnet Critical Bug a Controversy? Charles Hoskinson, the founder of Cardano, has come out to speak about how the issues surrounding the Cardano Vasil hard fork have been “incredibly corrosive and damaging.” After a rumor broke out that Cardano’s testnet is “catastrophically broken,” Hoskinson stated that there’s been an “unfair narrative” floating around Cardano and its testnet issues, which he called “incredibly corrosive and damaging.”   He spoke about how people can and should not conflate a failed testnet with the mainnet, because testnets are constructed and destroyed all the time in this industry. He then added that “They are in no way, in any way harm Cardano itself.”   The Vasil hard fork has already been delayed several times this year, with the most recent delay being announced at the end of July due to issues identified on the testnet. Hoskinson, however, remains optimistic that the Vasil hard fork will ship “imminently.”   USDC Records a 22-Month Low Whale Holding Percentage The percentage of USD Circle (USDC) stablecoins held by the top 1% of wallet addresses dropped to its lowest point in almost two years as the crypto market downturn continues. While the real reason or reasons for this are unknown, various commentators have suggested that some users shifted their stablecoin holdings from USDC to USDT. This claim was made given the correlation in the decline and growth of the respective stablecoins’ market cap.   Data from Glassnode, an on-chain analysis firm, shows that the percent of USDC held by the top 1% of addresses is currently at a 22-month low of 87.667%.   However, even though the market cap of USDC ended up reducing somewhat, the stablecoin reached a three-year high in terms of weekly mean transaction volume, surpassing the previous high it registered in June of this year.   Tether Decreases Commercial Paper Holdings by 58% An announcement from USDT issuer Tether Holdings Limited revealed the results of the independent Q2 attestation performed by the top accounting firm BDO Italia.   Tether had previously made an announcement that they intend to reduce their commercial paper holdings to 0% by the end of October 2022. Data from this report revealed a 58% decrease in commercial paper exposure since the previous quarter. When translated into dollar value, this is a decrease from $20 billion to $8.5 billion.   The CTO of Tether, Paolo Ardoino, tweeted that Tether plans to continue to decrease its commercial paper holdings to $200 million by the end of August, and to ultimately reach zero by the following October.   The Fear & Greed Index at 29, Market Turning More Bearish The fear and greed index continues to signal "fear," with an index indicating a 29 score. Fear levels have increased greatly since the past week, with the market now being much more fearful than on Monday past week, when the Index showed 45.   Fear & Greed Index | Source: Alternative Crypto Calendar: Events to Watch This Week ➺ 22/08/2022 - JEWEL - DeFi Kingdoms AMA ➺ 22/08/2022 - DFI - BitMart Listing ➺ 23/08/2022 - TRX - Telegram AMA ➺ 24/08/2022 - SAND - Alpha Season 3 Begins ➺ 25/08/2022 - Crypto - CoinFest Asia ➺ 26/08/2022 - ICP - BTC Testnet AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has had a very bad week, with its price slowly recording double-digit losses and dropping below several support levels. The largest cryptocurrency by market cap has seemingly failed to maintain the uptrend it kept for over a month, while also falling below the 21-day moving average level.   This downtrend has led BTC from a little over $25,000 all the way up to a high of $20,760, which it hit on Saturday. However, the price bounced back above the $21,000 mark, and it’s fighting to stay above this level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   Analysts are predicting an even further drop due to worldwide uncertainty, with long-term lows possibly hitting the low teens.   Bitcoin’s immediate support level stays at $21,000, while its immediate resistance level lies at the 21-day moving average, currently sitting at $23,100.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Testing $21K Support; Crypto Market Losing its Upward Momentum| KuCoin
Cryptocurrency: Wow! These Data About Crypto In India Will Leave You Baffled!

Cryptocurrency: Wow! These Data About Crypto In India Will Leave You Baffled!

Kucoin Blog Kucoin Blog 23.08.2022 14:02
Cryptocurrency exchange KuCoin has released the Into The Cryptoverse Report India, a survey taking an in-depth look into the development of the blockchain industry and crypto space in the most populous country in the world.   The KuCoin report comes hot on the heels of the latest developments in India, which have seen a surge in local demand for cryptos. Despite the local government’s stance on digital assets and the levying of a 30% tax on income received from digital assets, the Indian crypto market is expected to reach $241 million by 2030. Spurred by the prospect, the Indian government has announced the launch of a digital rupee, further stimulating the local population’s interest in the digital economy.   The survey revealed that as of June 2022, there are roughly 115 million crypto investors in India who either currently hold crypto or have traded crypto in the past six months, accounting for 15% of the Indian population aged 18 to 60 years. Another 10% of Indian adults are crypto-curious consumers who are planning to invest in crypto in the coming six months. The overall market downturn has also impacted sentiment, as reflected in the preference of an increased share of investors to keep the same amount of crypto rather than invest more in it. However, more than half of crypto investors still intend to increase their investments in crypto in the coming six months.   When it comes to the hurdles of crypto investment, a lack of sufficient knowledge of the crypto market is reflected by 41% of respondents who state that they are not sure which types of crypto investment products to choose, 37% have difficulty managing the risk of their portfolios, and 27% have trouble predicting the market directions and values of crypto. 21% are not clear about how crypto works.   The ambiguity in government regulations has been a key factor deterring potential investors. 33% report that government regulation is a concern when considering investing in crypto. The safety of investing in crypto is also a concern for many, as 26% worry about hackers being a threat, and 23% fear that they may not get their money back in case of security incidents.   Indian demographics reflected in the survey reveal that in the first quarter of 2022, 39% of crypto investors are aged 18 to 30, up 7% from the previous quarter, suggesting that the number of young crypto investors is growing faster than their more mature counterparts. The fresh young blood is bringing more dynamism into the crypto market. 39% of young crypto investors below the age of 30 are first-time crypto investors who only started trading over the past three months.   The survey also shed light on investor motivations, highlighting that :   · 56% of crypto investors believe crypto is the future of finance · 54% believe crypto will bring them a higher return on investment in the long run, · 52% invest in crypto to gain passive income and improve the quality of living. · Only 24% of young investors consider crypto a hype for fun · 43% are going for the short-term gains.   The findings of the KuCoin Into the Cryptoverse India report provide invaluable information about the potential of the digital economy in the country. With its rapidly growing middle class and tech-savvy, young population, the country is poised to become a powerhouse of the digital economy in the near future, despite the challenges of poor topic education and information accessibility. Click here to download the full report.   About KuCoin Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 20 million users in 207 countries and regions.   In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2021. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: KuCoin Into The Cryptoverse India Report Reveals Optimistic Prospects For Market Growth | KuCoin
The Canadian Dollar Gains Momentum as Crude Oil Prices Surge

Wall Street: The Worst Day Since June. Bitcoin (BTC) And Ethereum (ETH) Can Feel The Tension In The Air

Conotoxia Comments Conotoxia Comments 23.08.2022 14:35
According to Coinmarketcap data, the total capitalization of cryptocurrencies has fallen to nearly $1 trillion, showing a major shift in sentiment among traders and investors in recent days. The last time market capitalization was at this level was in late July. The possible trend reversal does not only apply to cryptocurrencies. The Nasdaq and S&P 500 have fallen from their local highs of August 16 by 5.7% and 3.8%, respectively. This is a significant change for such large indexes. Interest rates on U.S. 5-year Treasury bonds, after recording a local low of 2.55% on August 1, have risen to 3.17% in recent weeks, as Fed policymakers' statements proved more hawkish than expected. These are potential signs of a deteriorating outlook again, which should not be ignored. A chart of the Crypto Fear & Greed Index may show a decline in crypto market sentiment and an increase in investor fear. As recently as last week, the index showed a reading of 44, and now it is 28 points. Despite the partial decrease in the correlation between bitcoin and the S&P 500, it still seems to be high. Especially since it has historically risen during crashes - the last peak in the correlation was reached in mid-May, when both markets were down. BTC and ETH, despite finding support at $20,700 and $25,300, respectively, could be more exposed to the downside due to deteriorating economic data and market sentiment.  On the Conotoxia MT5 platform as of 12:00 GMT+3, one of the strongest falling tokens is EOS, which is losing nearly 9% after a 7-day gain of 48%. EOS is the native token of the EOSIO network. In practice, the project provides blockchain developers with a set of necessary tools and services to build and scale decentralized applications. The project's first whitepaper was released in 2017, and the team conducted an ICO, securing more than $4 billion in investment. It was one of the largest crowdfunding events in the history of cryptocurrencies.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Does data signal more short-term declines in the crypto market?
Scottie Pippen (Basketball Player) Received A Personalized NFT

(BTC/USD) Bitcoin Price Lingers Around $20,000. Crypto Traders May Be Vigilant As Powell's Is Said To Speak In Jackson Hole

Craig Erlam Craig Erlam 23.08.2022 16:26
It’s been a choppy day of trade, with much of Asia and Europe treading water while the US is expected to open marginally higher. It’s clear that investors already have an eye on the Jackson Hole Symposium later in the week and we’re perhaps seeing some apprehension and anxiety ahead of that. I’m not entirely sure where that has come from because they’ve been perfectly happy to bat away hawkish warnings in recent weeks and if anything, the data has turned slightly in their favour. It may simply be a case of profit-taking after a good run in case the message finally gets through and causes a wobble in the markets. Equally, we could just be seeing markets being set up for a strong end to the week if Chair Powell says anything remotely dovish that excites traders once more. Positivity in PMIs not going to last Outside of the US, it doesn’t seem there’s much to be optimistic about. European PMIs this morning, while marginally beating expectations in some cases, were pretty poor. The flash services PMIs for France and the euro area just about remained in growth territory but the trend suggests that’s only a matter of time. The UK services PMI was a positive surprise, falling only a touch from 52.6 to 52.5 against expectations of a much steeper decline. Unfortunately, not only was the manufacturing PMI frankly appalling, the performance of the far more important services sector is highly unlikely to last. A recession is coming, regardless. Steady after Friday’s tumble Bitcoin has stabilised a little in recent days following Friday’s sharp plunge. It appears to have run into support just above $20,000, around the same level it did back in late July. It’s also around the 61.8% retracement of the June lows to the August peak. As appears to be the case elsewhere, we may be seeing traders adopting caution ahead of Powell’s Jackson Hole appearance. A break below $20,000 could be a major blow. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Choppy trade - MarketPulseMarketPulse
Bearish Dominance Appears Again, Bitcoin Must Be Careful! BTC/USD

Bearish Dominance Appears Again, Bitcoin Must Be Careful! BTC/USD

InstaForex Analysis InstaForex Analysis 23.08.2022 16:36
Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Since last Friday, August 19, there has been an increased amount of liquidations which has had a key impact on the cryptocurrency market. Since then, bitcoin (BTC) has depreciated by more than 10%. The market capitalization of all digital assets fell below the $ 1 trillion mark again. At the time of writing this article, the rate of the first cryptocurrency is $ 21,000. This means a slight decrease during the day by almost 1%, although bitcoin is losing 12.24% of its value over the last week. Bitcoin's market cap is currently over $406 billion. However, despite the return of bearish dominance and hence the decline in rates, interest in long BTC positions remains at the highest levels in 12 months. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the lower channel line soon. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410. Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Read more: https://www.instaforex.eu/forex_analysis/289563 Read more: https://www.instaforex.eu/forex_analysis/289563 Source: Forex Analysis & Reviews: Technical Analysis of BTC/USD for August 23, 2022 Read more: https://www.instaforex.eu/forex_analysis/289563
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

Shocking Prediction: Could Be Crypto Market Calm Until The End Of September!? DOGE-ETH Bridge Is Said To Be Launched This Year!

Alex Kuptsikevich Alex Kuptsikevich 24.08.2022 09:43
Market picture Bitcoin has added 2% in the past 24 hours to $21,400. Ethereum added 4.6% to $1640, while top altcoins added between 0.9% (Dogecoin) and 4.4% (Polkadot). Total cryptocurrency market capitalization, according to CoinMarketCap, rose 2.2% to $1.03 trillion overnight. The Cryptocurrency Fear and Greed Index fell 3 points to 25 by Wednesday and went from "fear" to "extreme fear". Unlike stock indices, Bitcoin has not fallen but has appeared as if it is disconnected from the market, having reached an equilibrium between the sell-off lows of late July at $20.5K and $22.5K. The technical picture looks like a consolidation before a new downward momentum, potentially to the lows near 17600. BTCUSD could update that low if the decline gets caught up in the storm of falling stock markets. But it is too early to bet on this. News background CoinShares strategy director Meltem Demirors believes that because of the holiday season, we should not expect significant changes in the cryptocurrency market until the end of September. According to SkyBridge Capital CEO Anthony Scaramucci, bitcoin cannot yet act as an asset to hedge inflation as adopting the first cryptocurrency is not enough. According to Arcane Research, Bitcoin could become one of the world's leading power consumers by 2040. Developers of the Dogecoin Foundation have reported that a DOGE-ETH bridge will be launched by the end of the year to move DOGE from the Dogecoin blockchain to the Ethereum network and back again.
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Crypto: Could Stablecoin Fei (FEI) End Operating!?

Crypto.com Accelerate the... Crypto.com Accelerate the... 24.08.2022 10:37
Decentralised stablecoin Fei may cease its operations. HUSD depegs following the closure of market maker accounts. Attacker loses 5 ETH after trying to exploit Near Protocol’s Rainbow bridge. Weekly DeFi Index This week’s price, volume, and volatility indices were negative at -9.59%, -12.41%, and -27.80%, respectively.     DeFi Index Tokens     News Highlight FEI, one of the largest decentralised stablecoins, may cease operations. Fei Labs Founder Joey Santoro announced that the Fei (FEI) architecture will be shutting down because of “technical, financial and potential future regulatory risks.” FEI maintains the peg using protocol controlled value (PCV), a mechanism to algorithmically manage a reserve of tokens. Santoro also published a proposal to redeem FEI tokens to DAI and to distribute protocol controlled value between TRIBE (the governance token of Fei Protocol) holders. HUSD, a dollar-backed stablecoin issued by Stable Universal (a Huobi Capital invested company) broke from its peg on 17 August and traded at a low of US$0.85. This came after FTX CEO Sam Bankman-Fried and TRON Founder Justin Sun were revealed to be in talks to purchase a majority stake in the Huobi Global crypto exchange. However, HUSD clarified that the depeg was connected to liquidity issues after several account closures, including market maker accounts. It has since recovered the peg. An attacker tried to exploit Near Protocol’s Rainbow bridge by submitting a fabricated block, but failed and lost 5 ETH. Rainbow validators’ automated security processes blocked the transaction and took away the safe deposit of 5 ETH put up by the attacker. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer 2 Projects Overall, the L2 market dropped by -3.06% in the last 7 days. The TVL of all L2 categories followed the downtrend. Optimistic rollup projects fell by -4.10% and zero-knowledge rollup projects by -1.16%. Ethereum’s TVL plunged by -9.84%.     The TVL for all optimistic rollup projects were negative last week, and Boba Network dropped the most at -10.06%.     Similarly, almost all ZK rollup projects’ TVL plummeted except dYdX, which grew +14.07%.     Further Reading GetBlock, the provider of high-performance endpoints offers seamless connection to Cronos nodes to its clients  Gnosis Safe to airdrop 50 million Ethereum tokens to wallets Ethereum devs confirm previously announced merge date Tether reveals 58% decrease in commercial paper holdings in latest attestation BendDAO hit by insolvency crisis as Ethereum reserves drained Ronin bridge hackers used ChipMixer to launder over $73M of stolen funds Ethereum community splits over solutions for transaction censorship Dogecoin-Ethereum bridge expected to go live in 2022 Aave calls on members to commit to Ethereum PoS chain Acala recovers 2.97 billion of aUSD stablecoin minted during exploit Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Shocking News: You Won't Believe It! Crypto Mining In A Medical Facility!? | Bitcoin Price - Technical Analysis - 24/08/22

InstaForex Analysis InstaForex Analysis 24.08.2022 14:48
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: A hospital worker in Upper Altai, the capital of the Altai Republic in southern Siberia, was arrested for running a cryptocurrency mine in a medical facility. The mining equipment was launched at the beginning of last year, Russian news services reported. In February 2021, a man who worked as a chief information security officer installed cryptocurrency mining equipment and connected it to the hospital's servers that had previously been used to treat patients with Covid-19. According to a statement by the regional department of the Federal Security Service (FSB), mining equipment operated on stolen electricity for almost a full year, causing damage amounting to nearly $ 7,000. Law enforcement also noted that an IT expert decided to mine cryptocurrencies after experiencing financial difficulties. He quickly realized that he did not have the necessary computing power and energy at home, which prompted him to start mining at his workplace. During the searches in the suspect's home, police and FSB officers confiscated mining equipment and other computer equipment. A cryptocurrency miner whose identity has not been disclosed can get up to two years in prison for his crimes under the Criminal Code of the Russian Federation. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line soon. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410.     Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Read more: https://www.instaforex.eu/forex_analysis/289755
Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

Altcoins: ApeCoin (APE) - What Is It? - A Deeper Look Into the ApeCoin (APE) Platform

Rebecca Duthie Rebecca Duthie 23.08.2022 18:50
Summary: What is The ApeCoin Platform and how does it work? Advantages of the ApeCoin exchange. ApeCoin’s past, present and future price positions. The ApeCoin Platform APE Ecosystem uses ApeCoin, an ERC-20 governance and utility token, to enable and reward a decentralized community forming at the vanguard of web3. Owners of ApeCoin make decisions about how to use the ApeCoin DAO Ecosystem Fund using the decentralized governance structure that runs the ApeCoin DAO. The suggestions adopted by ApeCoin holders are managed by the APE Foundation. ApeCoin is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism. The decentralized Bored Ape Yacht Club concept by Yuga Labs served as inspiration for ApeCoin. To be utilized in the developing APE Ecosystem, which is funded by the APE Foundation, ApeCoin was created. The ApeCoin DAO provides an architecture for ApeCoin holders to interact through open and permissionless governance mechanisms in order to construct and sustain the APE Ecosystem in a fair and equitable manner. The choices made by ApeCoin DAO members will be carried out by a board of administrators within the APE Foundation (the "Board"). The daily management, bookkeeping, project management, and other duties that guarantee the Community's ideas receive the backing they require to become a reality fall within the purview of the Board. The members of the ApeCoin DAO elect the Board. The governance token for the APE Ecosystem is called ApeCoin. It enables token holders to take part in the ApeCoin DAO and provides its users with a decentralized, open, and shared money. The Ecosystem Fund, which will support community-driven activities as decided by ApeCoin DAO members, received 62% of all ApeCoin. Additionally, ApeCoin provides access to special games and services as well as other areas of the Ecosystem that are otherwise inaccessible. ApeCoin is a mechanism for third-party developers to engage in the ecosystem by integrating ApeCoin into services, games, and other projects. Yuga Labs, the company behind the Bored Ape Yacht Club, donated a one-of-a-kind NFT to the APE Foundation. All rights and privileges to this NFT and the underlying artwork have been transferred by Yuga Labs to the APE Foundation. How this intellectual property is used is up to the individual ApeCoin DAO members. The current market capitalisation for ApeCoin is $1,606,526,568. There is a maximum supply of 1 billion APE tokens, 306,875,000 of those are currently in circulation. Advantages of the ApeCoin Platform Certik, the top security-focused rating site that tracks and examines blockchain protocols as well as decentralized finance (DeFi) projects, has certified ApeCoin as secure. CERTIK's endorsement of a crypto project says a lot about its reliability and validity. The results of this security portal show that: On-Chain Inspection (ApeCoin is healthy, based on real-time transactional tracking systems). Social Sentiment (ApeCoin is positive based on social monitoring and sentiment analysis). Rule of Law & Autonomy (ApeCoin is strong based on checking the tracking of privileged movements). Market turbulence (ApeCoin is robust based on indicators over trading volume, liquidity, and depth). Safety Evaluation (ApeCoin is good based on 15 safety and hazard evaluations). Static Evaluation (1 issue detected out of vulnerability and security checks). Recorded impressive trading volume. ApeCoin is a very popular crypto. ApeCoin has a scarcity to look forward to. Benefits from Ethereum updates. Past, present and future prices of The ApeCoin network (APE) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, APE does fall under this category. According to some analysts, the future price of The ApeCoin network (APE) could reach up to $17.36 by 2025 and could see a price of more than $111.61 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ApeCoin Crypto Price Chart Sources: finance.yahoo.com, coinmarketcap.com, trading-education.com, cryptopolitan.com
Bitcoin Maintains A Steady Bullish Potential

Crypto: Is Bitcoin Price... Stable At The Moment?

Craig Erlam Craig Erlam 24.08.2022 15:18
A relatively slow session so far in the middle of the week, with the focus very much still on the Fed and interest rates ahead of the Jackson Hole Symposium that kicks off tomorrow. It’s interesting that the fear of what could be said is seemingly having a far greater impact on sentiment and the markets than what has actually been communicated in recent weeks. Investors have repeatedly turned a blind eye to Fed commentary since the last meeting which has enabled stock markets to recover a lot of lost ground. It’s always hard to say how long that will last and whether it will continue as markets have spent much of the last year not on the same page as the Fed and as it’s turned out, for good reason. Any trepidation now may simply be a case of groundwork being laid for another rally later if Powell is deemed to be remotely dovish on Friday, intentionally or otherwise. The fact remains that Jackson Hole has on occasion in the past been used as a platform to send clear messages to the markets and not always one that is expected. That may be feeding some of the nervousness but if Powell is going to stick to the script and get through to the markets, he’ll need to do so far more convincingly than he and his colleagues have managed so far. Vulnerable with an eye on Jackson Hole Bitcoin remains quite stable after last Friday’s shock plunge. As is the case across financial markets, it seems traders have their sights set on Jackson Hole later this week to dictate the next moves. It continues to look vulnerable to a break of $20,000 which could be a painful blow but if Powell says anything that excites the risk-on crowd, we could see it quickly eat away at last week’s loss. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Arenum (ARNM) Explained - What Is It? You Have To Check This Novelty On Cryptomarket! #Altcoins

Altcoins: Arenum (ARN) - What Is It? - A Deeper Look Into the Arenum (ARN) Platform

Rebecca Duthie Rebecca Duthie 24.08.2022 15:42
Summary: What is The Arenum Platform and how does it work? Advantages of the Arenum exchange. Arenum’s present and future price positions. The Arenum Platform Arenum (ARNM): What is it? The next development in the financial and technological framework for web-based gaming is Arenum.io. Arenum wants to become the blockchain version of the App Store by connecting game developers, players, and influencers by utilizing its robust SDKs. What makes Arenum so unique? Actually, it's simple. They are known as moon factors. Moon factor #1, The tournament platform for casual games, Global Matching Engine: Arenum was designed from the ground up to compensate both game producers and players for their work. Players are rewarded for their participation in the games they play. We give users the chance to participate in their preferred games and win cryptocurrency. Moon factor #2, The Arenum platform provides a set of strong SDKs that allow developers of traditional video games to easily move their game infrastructure to the blockchain and enable Play-to-Earn features right away. Moon factor #3, Arenum is here to deliver and is production-ready. The beta version has more than 50k installs now in Turkey and Brazil, giving regular product upgrades and scalable product metrics. Arenum team has already delivered a number of products since 2017: mobile video streaming services blockchain based on the tendermint on-demand high-load video services AI-based video analytics platform for Arenum Tournaments (since 2018). The Arenum team has 37 full-time professionals in total, several of them have backgrounds in blockchain and game development. Who is distinctive about Arenum? Arenum is a platform that provides gamers and game developers with the initial infrastructure they require. Platforms prosper with time. Arenum is above the hit-driven gaming business; by adhering to our own set of principles, we use profitable games to fuel the platform's expansion and revenue. The platform is protected from "flash in the pan" or "one hit wonder" effects thanks to higher retention and the chance to employ cross-game exposure. Arenum maintains stability at a level above gaming by concentrating on utilizing trends to expand as a platform. Arenums wants to use casual PvP games to spread awareness of cryptocurrency. Advantages of the Arenum network Arenum wants to give developers, players, and influencers more power by adding an eSports layer to the games that are already part of its network and using player vs. player (PvP) competitions to further motivate players and provide users with a decentralized way to interact with other users in the ecosystem. PvP tournaments may be quickly launched using the platforms' cutting-edge connection, which is a component of its tournaments engine, in addition to PvP as a service. The Arenum platform is an open creative network. League of Legends players are free to organize their own tournaments and manage them however they see fit. Players that compete with one another raise their earning radar, which opens up new, uncommon NFTs in the game economy. This is done to return power and control to the players. Present and future prices of The Arenum network (ARN) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ARN does fall under this category. According to some analysts, the future price of The Arenum network (ARN) could reach up to $0.56 by 2025 and could see a price of more than $3.52 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ARN Price Chart Sources: finance.yahoo.com, coinmarketcap.com, cryptotvplus.com, priceprediction.net
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Crypto: Bitcoin Price Development Is Going To Be Thrilling!

InstaForex Analysis InstaForex Analysis 24.08.2022 15:54
Relevance up to 11:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin managed to hold above the support level of $21,000 and rebounded slightly. As of August 24, the price reached $21,400 and continued to consolidate. At the same time, the Bitcoin network has not seen an increase in trading activity or an increase in the number of addresses. Considering this, we can assume that bears may try to retest the level of $21,000.     Bears managed to reach the important level of $21,000 and one more step closer to the retest of $20,000. During the last 5 days, the price has tested the level of $21,000 three times, which may indicate that it might break through this level soon. The technical indicators point to the high probability of a bearish breakdown of the level of $21,000. The stochastic oscillator completed a bearish crossover below 30 and the RSI is still declining below 40. Meanwhile, the MACD is declining in the red zone, indicating the emergence of a medium-term downtrend.     Despite clear factors pointing to further price declines, there is a possibility of an uptrend. It is based on the movement of the DXY index. The index reached the level of 109, but at the end of August 23, failed to break through that level and closed the day with a red candlestick. A failure of the DXY index could be a window of opportunity for Bitcoin, which got a chance to end the day with an uptrend. However, this probability is very low given the fact that the red candlestick on the DXY daily chart could not even overlap the previous bullish candlestick in volume, indicating a continued bullish sentiment for DXY.     Stock indices also continue to decline within a bearish trend. The S&P 500 index has reached the support area at $4,100, but technical indicators point to further downside. The stochastic oscillator and the RSI continue a strong downtrend peak and the MACD has formed a bearish crossover, indicating that a medium-term downtrend is forming. Given the SPX and DXY movements, Bitcoin should prepare for a drop below $21,000 in the near term.     Another important reason that could play both for and against Bitcoin is the Fed symposium. Market participants expect that Fed Chairman Jerome Powell will announce the key theses, which will allow to the markets draw certain conclusions about the future of the market and the Fed policy. Analysts forecast a negative outcome of the event and announcement of these may aggravate the current downturn in the markets. It is reported that Powell may confirm the Fed's desire to accelerate the reduction of balance sheets and further plans to raise the key rate.     Given the current situation, we should expect a decline in trading activity before Powell's speech on August 25-27. The general direction of the cryptocurrency market and investor sentiment suggests that Bitcoin and other crypto assets may decline in the coming days. It is impossible to predict the impact of Powell's rhetoric on the market but sharp price movements are likely to occur due to a significant increase in volatility. We will see by the end of the current trading week where the price may go.   Read more: https://www.instaforex.eu/forex_analysis/319781
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Market rebound did not attract new investors: what this means for Bitcoin?

InstaForex Analysis InstaForex Analysis 24.08.2022 16:06
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Bitcoin made a powerful fall to the $20.7k–$22k range, where it continues to move in a flat and tries to realize local impulses. However, in general, after a bullish period provoked by a number of factors, Bitcoin and the entire market returned to its original state in mid-June. Glassnode experts also note that, despite a powerful rebound, where the main cryptocurrencies managed to reach local highs, there was no significant influx of new investors.     Analysts noted that after Bitcoin formed a local bottom at $17.7k, the market moved into a phase of local recovery. It lasted for about a month and ended with a downward breakdown of the $23.5k BTC level. Glassnode experts confirm that positive fundamental news has become the main source of Bitcoin growth. This indicates the impulsive nature of growth and does not correspond to the classic upward trend. The second important signal indicating an imminent fall in BTC/USD quotes was low trading volumes during the upward movement of the cryptocurrency.     An important part of the upward movement of the main cryptocurrency was the correction of the DXY index, which strengthened significantly after the Fed tightened monetary policy. Bitcoin has an inverse correlation with this index, and, therefore, the monthly correction of the dollar index provoked an easing of pressure on the crypto market. However, the true reason for updating the local high of BTC is due to several reasons. And the main one is the macroeconomic situation, which remains unpredictable and changes at an astounding rate.     Among the unexpected but important factors that contributed to the growth of the crypto and stock market are the economic problems of the European Union. In mid-July, the EUR went below 1 against the US dollar. This forced the Fed to suspend its quantitative reduction policies and release large amounts of USD into the markets. In other words, the Fed deliberately weakened the US dollar to stabilize the situation with the currencies of other countries. As a result, the DXY correction increased significantly, which allowed Bitcoin to continue its upward movement.     As of August 24, we see a continuation of the DXY upward trend and a new stage of correction in Bitcoin and the cryptocurrency market. Many analysts point to a movement towards the local bottom and even an update of this indicator. However, at the same time, the cryptocurrency market is approaching the historical update of Ethereum called Merge. Capriole Investments founder Charles Edwards said that mining companies have passed the capitulation stage, and the volumes they sell do not affect the price of BTC.     On the macroeconomic front, there are also prerequisites for a likely change in the Fed's monetary policy. Over the past month, inflation fell by 0.6%, but at the same time, the regulator continued to withdraw liquidity and raise the rate. However, the ECB said that the aggressive rate hike did not help the EUR and the European economy. As a result, the euro once again caught up with the US dollar, which may force the Fed to change its monetary policy again. Given that the peak of inflation has passed and the risk of a recession is increasing, the monetary policy of the US regulator may change as early as September, which will give a positive impetus to the crypto market.     In the current situation, Bitcoin and the cryptocurrency market will have to go through another serious downturn. However, given the normalization of the overriding factors that contributed to the BTC price crash, such as miner capitulation, the $20k key milestone will remain intact. Ethereum also remains in demand among institutional investors and miners, whose stocks have updated a three-year high. With this in mind, the main fundamental factors indicate that a new recovery phase of the crypto market will begin in the fall.   Read more: https://www.instaforex.eu/forex_analysis/319763
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Bitcoin Holders Are Withdrawing Their Capital From Exchanges!

InstaForex Analysis InstaForex Analysis 24.08.2022 16:15
Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. According to the latest data on the outflow of the exchange from Arcane Research, crypto holders are not interested in trading their tokens and, instead, prefer to keep their BTC safe on cold wallets. The events in the crypto market in 2022 caused many to rethink their risk management practices as the collapse of decentralized finance protocols and bankrupt centralized finance platforms exposed the truth that there is no privacy, no keys, no cryptocurrencies. As a result of blocking or loss of funds, bitcoin holders began to withdraw their capital from exchanges at an astounding rate. According to a report published by Arcane Research, deposits began to flow away from both crypto exchanges and lenders. Arcane Research cited the collapse of Terra Luna. This includes the now-defunct crypto hedge fund Three Arrows Capital, crypto lender Celsius, and crypto brokerage Voyager, which are now in bankruptcy. As these firms collapsed, client funds were blocked and could not be withdrawn, and it is becoming increasingly likely that this will be a complete loss for many of the participants. Because of this, years spent building trust in exchanges and lending platforms have evaporated, and crypto holders have begun withdrawing their funds en masse from both crypto exchanges and lenders. The net outflow from exchanges in June was 119,000 bitcoins. This was the highest outflow since November 2020. July also saw a massive outflow, with 96,000 bitcoins being withdrawn from exchanges. The outflow of funds from the exchange continued in August, and 65,000 bitcoins were withdrawn in the first 22 days of the month. As a result of the outflow, the number of bitcoins held on exchanges is now at its lowest level since July 2018.Investors are also more reluctant to invest in cryptocurrency investment products, as the latest report from Coinshares shows that the outflow of funds from digital asset investment products was $8.7 million for the week. Overall, while crypto holders continue to hold on to their beliefs about the future of the asset class, they are reluctant to trust others to hold their tokens and have instead reverted to the original crypto idea of being their own bank. Source: Forex Analysis & Reviews: Bitcoin holders are leaving crypto exchanges en masse
The Ethereum Has Located Just Above The Key Short-Term Technical Support

Crypto: ETH/USD Trying To Recover. Ethereum Gained Almost 10%!

InstaForex Analysis InstaForex Analysis 24.08.2022 23:40
Relevance up to 16:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum rebounded in the short term but the current growth could be short-lived. After its amazing sell-off, the altcoin could try to recover. ETH/USD increased by 9.44% from Monday's low of 1,529 to yesterday's high of 1,673. It was trading at 1,644 at the time of writing. Ethereum has gone up by 1.25% in the last 24 hours but it has been down by 10.82% in the last 7 days. Bitcoin tried to rebound, that's why ETH/USD turned to the upside. ETH/USD Temporary Rebound? ETH/USD found support right above the 50% (1,519) retracement level and now has managed to pass above the 38.2% (1,640) retracement level. Still, as long as it stays under the downtrend line, the bias remains bearish. Also, the weekly pivot point of 1,718 represents an upside obstacle. Only a valid breakout through the downtrend line and above 23.6% (1,790) could announce that the downside movement ended. ETH/USD Forecast Testing and retesting the pivot point and the downtrend line and registering only fasle breakouts could announce a new sell-off. A larger downside movement and a great short opportunity could appear only after a valid breakdown below the 50% (1,519) retracement level.   Source: Forex Analysis & Reviews: Ethereum struggling to rebound
The Bitcoin Price Movement Is In The Bullish Channel

Bitcoin To US Dollar - Technical Analysis - 25/08/22

InstaForex Analysis InstaForex Analysis 25.08.2022 10:03
Crypto Industry News: Cryptocurrency bulls seem sleepy ahead of Friday's Jackson Hole conference. At the same time, on August 26, Bitcoin traders' options worth almost USD 1 billion will expire, which may result in volatility depending on the valuation of the cryptocurrency on that day. The king of cryptocurrencies has still not tried for good to attack levels close to the 200 session average below which it slipped last week, causing a massive wave of liquidation of leveraged positions of traders in the cryptocurrency market. Let's take a look at the options market again and the key resistance for Bitcoin to answer the question where the 'king of cryptocurrencies' could land at the end of this week? The liquidation of the aggressive investors took place during the fall to USD 20,800 which began last week, where the price of Bitcoin landed just after breaking the USD 25,000. This meant a 16.5% drop between August 15-19. The declines in fuels added to the dismal conditions in the real estate market in China, as well as concerns about the further cycle of monetary tightening in the US. It is hard to imagine that the Bitcoin correlating with the indexes would show divergence, so the declines on the American stock exchange each time bring with them a weakening of cryptocurrencies. This week, August 26, nearly $ 1 billion worth of options will expire, and demand has held support at $ 20,800, preventing supply from crossing the red line. The bulls hope their expiration will clear the way for cryptocurrencies north. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line soon. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410.     Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/289928
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

Crypto: ETH/USD Ether Price - Technical Analysis - 25/08/22

InstaForex Analysis InstaForex Analysis 25.08.2022 10:10
Crypto Industry News: The upcoming transition of the Ethereum blockchain to the Proof-of-Stake consensus model is on the final straight. The network's developers have given the exact date of this event, which was named the Merge. As is the case with such advanced activities, certain complications are inevitable. This is where web programmers play a key role, reacting quickly to errors that occur. Peter Szilagyi, one of the developers of Ethereum (ETH) software, reported on Twitter that he ran into a bug that could damage the network system. He explained that it was probably a request to accept changes that were attached to create a new retention model or shrink the current one. Some time later, the developer indicated that the caught bug will affect people who are running the version 1.10.22 it was related to. He added that the problem of data loss appears after turning off the devices, hence their tests were not able to catch the error. Nevertheless, the programmers managed to fix the observed error quite efficiently. The Go Ethereum team created a patch that eliminated it. He then instructed users to upgrade backwards and go back to the previous version to check if everything was working properly. Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559 and is currently approaching the 38% Fibonacci retracement level of the last wave down located at $1,719. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/289930
Crypto: Fed's Fight With Inflation May Lead To Decline Of Crypto Prices

Crypto: Fed's Fight With Inflation May Lead To Decline Of Crypto Prices

Geco One Geco One 25.08.2022 11:25
Bitcoin Statements from members of the US Federal Reserve suggest they are leaning to support the third consecutive 75bp rate hike in September. They will not stop tightening until they are "fully convinced" that overheated inflation is falling, contributing to a marked decline in cryptocurrency prices. Only during last Friday's session Bitcoin dropped by more than 10%, increasing the range lasting from August 15 this year depreciation to over 17%. Such a significant sell-off caused Bitcoin to slide below the horizontal support of $ 22,500 and below the upward trend line, the lower limit observed since the mid-June parallel growth channel. There was some upward rebound last weekend. Its dynamics, however, is so modest that this increase will probably not even exceed the previously defeated support (now resistance) of $ 22,500, after which the market will return to the downward path. If this happens, the Bitcoin price could drop to $ 19,000, which would be the lowest since mid-July. Considering the significant impact of the last week's statements of the Federal Reserve representatives on the BTC quotations, one can assume that an exhilarating month in the cryptocurrency market is ahead of us. The annual symposium in Jackson Hole will take place this Thursday and Friday, during which (on Friday) the Fed president will deliver his speech. He may then provide some hints on the September meeting of the Federal Open Market Operations Committee (FOMC), during which a decision will be made on the scale of the following federal funds rate hike. In addition, on September 2 and 13, 2022, we will get to know the latest reports on employment changes in the US non-agricultural sector (NFP) and consumer inflation (CPI) in the US, while the FOMC mentioned above meeting will be held on September 21 this year. Ethereum Looking at the Ethereum quotes, we can see that the price of this cryptocurrency has fallen by almost 25% in recent days, breaking the bottom of the upward wedge formation and sliding below the technical support of $ 1780. This sell-off only stopped below $ 1,600, where there was a slight demand reaction last weekend, which could signal a potential for at least a corrective upward rebound towards $ 1,780. However, it cannot be ruled out that the gains will not reach the recently defeated support (now the resistance), and the ETH rate will return to the downward path without any correction. If this sale continues, the ETH rate could soon return to around $ 1,400 or even fall further to $ 1,250. Litecoin Litecoin's quotations have fallen by almost 20% recently, slipping below the technical support of $ 57.50 and breaking the bottom from the upward wedge pattern observed since mid-June this year. The sell-off halted around $ 54 technical support, where a demand reaction surfaced last weekend, triggering an upward correction rebound towards $ 57.50. We are currently seeing a test of this resistance. However, considering that this level coincides with the measurement of 38.2% Fibonacci retracement, it seems highly probable that its rejection could initiate another downward rally towards USD 47 or even USD 42.
Bitcoin Has Strong Sign That Buyers Are In Control

Nvidia Stocks Dived 4,5 % In The Afterhours Trading! Swissquote

Swissquote Bank Swissquote Bank 25.08.2022 12:13
Nvidia earnings released after the market close were in line with the downside-adjusted market expectations, but the current quarter sales forecast fell $1 billion short of expectations. Nvidia stock dived 4.5% in the afterhours trading, and brought forward the pricing of the ‘end of the chip shortage’. But, it is still too early to call the end of the rare chips, as chips for industrial use, cars and machineries remain difficult to find. Here is, as promised, more on that subject: https://medium.com/swissquote-educati... Elsewhere, stocks were flat yesterday. Even though the US futures are up this morning, the direction remains unclear, and conviction low before the much-expected Jerome Powell speech at the Jackson Hole meeting in the coming hours. The dollar is off the early-week peak, gold and Bitcoin consolidate, while crude oil is preparing to test the 200-DMA to the upside. Hence, energy stocks extend gains along with nat gas and nuclear stocks! Watch the full episode to find out more! 0:00 Intro 0:27 Nvidia’s sales forecast falls $1 billion short of expectations! 1:40 Is the chip shortage over yet? 2:40 Market update 3:56 Crude up, oil, nat gas & nuclear stocks race to the top 6:46 USD softer, EUR firmer before ECB minutes 8:00 Gold & Bitcoin traders await Powell speech for direction Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Nvidia #chip #shortage #Fed #Jerome #Powell #JacksonHole #enegry #crisis #crude #oil #natural #gas #nuclear #stocks #USD #EUR #ECB #minutes #XAU #Gold #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH   Source: Nvidia upsets, again. But chip shortage is not over yet! | MarketTalk: What’s up today? | Swissquote
The Date Of The Merge Is Confirmed. Ethereum (ETH) May Have Good Days?

The Date Of The Merge Is Confirmed. Ethereum (ETH) May Have Good Days?

InstaForex Analysis InstaForex Analysis 25.08.2022 14:42
Relevance up to 10:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The Ethereum Merge is one of the most anticipated events for the crypto community in 2022, with the end of the multi-year plan to shift to a Proof-of-Stake protocol now in sight. Alas, all technology-related things are not free from bugs. Earlier this week, Peter Szilagyi, an Ethereum software developer, tweeted that his team had found a regression that resulted in a corruptive state. In the later update, the developer explained the problem will likely affect those who are running the release in terms of corrupting their database and resulting in the loss of data. A solution to the problem was found after a day of work. The date of the Merge is confirmed. The Ethereum Foundation provided evidence that this latest bug had not derailed the planned launch of the Merge. On Wednesday, the Foundation posted a blog, saying that developers had officially confirmed September 6 as the transition date to a Proof-of-Stake protocol. This will be a two-step Merge: the Bellatrix stage and the Paris stage. The Bellatrix update will take place at 11:34 AM UTC on September 6. The Paris transition to Proof-of-Stake will occur between September 10 and September 20. These dates could change plus or minus five days due to shifts in block time and hash rate fluctuations.   Source: Forex Analysis & Reviews: Ethereum Merge coming soon
Crypto: Ethereum - Altcoin Correction Completed?

Crypto: Ethereum - Altcoin Correction Completed?

InstaForex Analysis InstaForex Analysis 25.08.2022 16:14
Relevance up to 10:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is on the eve of a key event in its history, but even this did not keep the altcoin from falling. The cryptocurrency fell along with the entire market and tested the support level at around $1500. ETH managed to stop the fall and realize a local bullish momentum, gaining 4.5% over the past day. However, the asset has lost 7% of capitalization over the past seven days. As of August 25, Ethereum reached $1700, but should this be regarded as the end of the correction? On the daily chart, we see the full viability of the altcoin's local bullish momentum. Ethereum formed four uncertain candles in a row, indicating a decrease in overall trading activity and an advantage for buyers. The altcoin has reached a key support zone, which is on par with the final part of the bullish cup and handle pattern. Keeping the bullish pattern intact indicates that strong buying sentiment continues, suggesting a continued rise in the price of ETH. Technically, Ethereum also looks poised for a renewed upward trend. The main metrics of the asset indicate the activation of buyers and the presence of bullish momentum. The Relative Strength Index fell below 40 but then reversed upwards and crossed the 50 mark. The movement of the RSI directly indicates growing buying volumes and the presence of bullish momentum. The Stochastic Oscillator also confirms the price reversal and forms a bullish crossover near the oversold zone. The MACD also reverses and does not enter the red zone, which is an important bullish signal. Ethereum technical indicators indicate the final price reversal and the completion of the corrective movement. The main on-chain metrics also show an upward movement, which indicate a fundamental confirmation of the price rebound. The number of unique addresses on the ETH network has been showing strong growth since mid-August, suggesting an influx of new users and investments. This fact is confirmed by the growth in transaction volumes in the Ethereum network, which indicates a growing interest in the altcoin network. In other words, after a local correction, which was of a healing nature, Ethereum again attracts investors due to the fundamental factor for growth. In addition, there is an active accumulation of ETH coins by large buyers and miners. This creates a shortage of ether coins, which is especially valuable after inflation peaks in early August due to low fees on the ETH network. Active accumulation by long-term investors and a local decline in the overall trading activity in the Ethereum network had a positive impact on the cryptocurrency. According to the New supply on-chain indicator, the number of new coins is decreasing, creating an additional shortage of ETH in the open supply. However, despite all the positives, it is important to consider the correlation between ETH and BTC. In the coming days, there will be a Jerome Powell symposium, and statistics on unemployment and US GDP growth will also be published. This data can significantly affect Bitcoin, which, in turn, will pull Ethereum along with it. Therefore, if the medium-term prospects of ETH are not in doubt, then everything will depend on Bitcoin regarding the short-term situation.   Source: Forex Analysis & Reviews: Ethereum holds above $1500: altcoin correction completed?
A Truce Between Cardano And Ethereum| Ethereum Movements

Crypto: Ethereum (ETH) - The "Migration" Is Expected To Begin

Conotoxia Comments Conotoxia Comments 25.08.2022 16:29
After many years of announcements, the Ethereum Foundation yesterday set an official date for the complete transition to the Proof-of-Stake (POS) blockchain. As previously anticipated, there have been no delays, so the 'migration' is expected to begin as early as 6 September. The upgrade, known as 'Bellatrix', involves replacing ETH miners with validators, a kind of 'nodes' of the Proof-of-Stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60000.  The Ethereum Foundation expects to activate the Beacon Chain as early as 6 September. This is expected to be the first test connection to begin the complete transition to POS. The activation is scheduled for 11:34:47 UTC. After the initial activation, the Terminal Total Difficulty (TTD) triggering the Merge is expected to reach a value of 5875000000000000000000000000000. This is nothing more than the level of synchronisation of the blockchain, which will become a Proof-of-Stake (POS) chain once the threshold value is exceeded. The timetable is for this to be achieved between 10 September and 20 September. According to CoinDesk, Ethereum developers estimate that this moment will occur on 15-16 September. Merge could have an impact on the crypto world and its prospects. Its scale seems to surpass the ETH split of 2016 and could point to new areas of growth such as a Proof-of-Stake solution, energy efficiency and much lower commissions.  In addition to its impact on the development of technology and ETH, the transformation may also affect other tokens that are heavily influenced by the changing ETH blockchain. We are talking primarily about LDO, ETC and OP tokens. These are projects to which an upgrade could give new meaning.  Additionally, yesterday Vitalik Butterin, founder of Ethereum, published a post on Twitter in which he stated, "People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they're so much more convenient,". By this, he seems to be referring to the fundamentals of crypto and the changes to come.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Merge receives official start date - what do you need to know?
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Could Crypto And Gold Profit From The De-Dollarization Trend!? ETH/USD - Technical Analysis - 26/08/22

InstaForex Analysis InstaForex Analysis 26.08.2022 10:53
Crypto Industry News: According to analysts, with the accelerating global de-dollarization trend, two assets that could benefit from it are gold and crypto space. Earlier this summer, Russian President Vladimir Putin said Brazil, Russia, India, China and South Africa (BRICS) were developing a new reserve currency based on a basket of currencies. "The issue of creating an international reserve currency based on a basket of our countries' currencies is under development," Putin said in the BRICS business forum at the end of June. "We are ready to openly cooperate with all honest partners." Five countries are also trying to create an alternative international payment mechanism, he added. BRICS can also see its membership expand, with Turkey, Egypt and Saudi Arabia considering joining the group. This is not the first time that something like this has been mentioned, as the BRICS countries are already starting to introduce more local currencies into payments in mutual transactions. According to the Deccan Herald, India and Russia held discussions about the mutual acceptance of RuPay and Mir local payment systems during the summer. Analysts see this new BRICS reserve currency proposal as an alternative to the US dollar and the International Monetary Fund (IMF) Special Drawing Rights (SDR) currency. Technical Market Outlook: The ETH/USD pair bounce had been capped at the 38% Fibonacci retracement level of the last wave down located at $1,719 and the market is reversing lower. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290117
Crypto: What Is Ledgerverse? A Revolution In The Education About Cryptocurrencies' Security!? Bitcoin Price - Technical Analysis - 26/08/22

Crypto: What Is Ledgerverse? A Revolution In The Education About Cryptocurrencies' Security!? Bitcoin Price - Technical Analysis - 26/08/22

InstaForex Analysis InstaForex Analysis 26.08.2022 10:44
Crypto Industry News: Ledger, a French cryptocurrency wallet maker, announced a partnership with The Sandbox. Its fruit is to be Ledgerverse - dedicated cyberspace in the Metaverse, which will educate people about the security of cryptocurrencies. Users will learn how to protect their digital assets at a time when hacker attacks on the blockchain market are increasingly occurring. What's more, the cooperation with The Sandbox involves the creation of a game called "The School of Block". Its purpose is to make people aware of the dangers that lurk in the world of cryptocurrencies. The participants of the game will fight cybercrime, for which they will receive exclusive NFT rewards in the game. Ledgerverse is Ledger's first Metaverse initiative to be developed in collaboration with The Sandbox and Swipe Back, the Metaverse creative agency. Ledgerverse will be a digital land in the Metaverse Sandbox where players must navigate the map using their cryptocurrency security knowledge. Technical Market Outlook: The BTC/USD pair has been seen testing the lower channel line around the level of $21,000 as the bears are getting ready do break out below the line. The momentum is still weak and negative on the H4 time frame chart, bounces are shallow and the market is clearly controlled by bears that might accelerate the sell-off and test the swing low seen at the level of $17,600 again. The nearest technical resistance is located at the level of $22,410, but so far the highest level hit by bulls was $21,903. Waiting game continues. Weekly Pivot Points: WR3 - $22,059 WR2 - $21,713 WR1 - $21,486 Weekly Pivot - $21,368 WS1 - $21,140 WS2 - $21,022 WS3 - $20,677 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 08:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290115
The G20 And IMF Are Already Preparing Their Crypto Regulation

Coinbase's CEO: "(...) cryptocurrencies would be integrated everywhere, as the internet has previously been (...)"

Alex Kuptsikevich Alex Kuptsikevich 26.08.2022 11:28
Market picture Things are slow now in crypto, with a slight downward bias for the second day. Bitcoin is losing 1.5% to $21.4K in the last 24 hours. Ethereum is unchanged for the same time, remaining at $1680. Top altcoins show mixed dynamics, ranging from a 4.1% decline (Solana) to a 2.6% increase (Cardano). Total cryptocurrency market capitalisation, according to CoinMarketCap, was down slightly, by 0.1% overnight, to $1.04 trillion. The Cryptocurrency Fear & Greed Index rose 2 points to 27 by Friday and moved into "fear" status from "extreme fear". Bitcoin lags behind the equity market and altcoins on Thursday and early trading on Friday. And now, it is crucial to understand whether this is a formidable warning of domestic weakness in the latest demand for risky assets. Alternatively, the poor performance of the first cryptocurrency might be its own problem. But it would break the trend of recent months, where Bitcoin has often acted as a leading indicator for the global equity market. News background Coinbase CEO Brian Armstrong said that eventually, cryptocurrencies would be integrated everywhere, as the internet has previously been, and the catalyst for their universal adoption will come from large tech companies. Vitalik Buterin Ethereum co-founder Vitalik Buterin believes that people underestimate how much cryptocurrency payments are superior to other traditional payment instruments. One of the world's leading technology companies, South Korea's Samsung, is serious about entering the crypto market by launching its cryptocurrency platform in the first half of 2023. Olli Rehn, governor of the Bank of Finland, said the digital euro and the use of private financial technology could make cross-border payments easier in Europe.
Navigating the New Normal: Central Banks Grapple with Policy Dilemmas

Bitcoin And Crypto Market In General Most Probably Some Dovish Signs

Craig Erlam Craig Erlam 26.08.2022 14:30
The day we’ve all been waiting for has finally arrived as Jerome Powell prepares for his keynote speech at Jackson Hole. I have no doubt Powell will have chosen his words very carefully today, all too aware of the consequences of even the smallest deviation in his intended message. It’s a little ridiculous that markets put so much weight on such things but that is the situation we are in and I expect the Fed Chair will be very clear in the message he wants to send. The difficulty for Powell stems from the fact that there’s the message investors desperately want to hear and the one they’ve repeatedly ignored since the July Fed meeting. The “dovish pivot” played nicely into the hands of the perma-bulls that have waited impatiently for the stock market to recover this year. Despite policymakers’ best efforts, attempts to correct this narrative have been brushed aside and the view today is that Powell may try to address this in a more forceful and convincing way. If he fails or gives the slightest impression that there is any substance to the dovish pivot narrative, we could see yields slip and stock markets end the week on a high. That could come intentionally, or otherwise, but investors will be clinging to his every word for even the slightest hint. Especially in light of the recent inflation reading. No pressure. Plenty of US economic data ahead of Powell’s speech While I’m sure that would be enough excitement for one day, there’s plenty of economic data due from the US later that will have a big role to play as well. Ahead of the speech, we’ll get income, spending and core PCE price index data, the latter of which is the Fed’s preferred inflation measure. The timing couldn’t be better. The UoM consumer sentiment survey is also released around the time his speech starts which will also be interesting, given that it’s languishing near its lowest level in decades even as actual spending remains strong. Sterling slips after eye-watering energy price cap rise and forecasts The pound fell this morning after it was confirmed by Ofgem that the energy price cap will rise by 80% in October, taking the average annual household energy bill to £3,549. It’s the moment many have feared for months and to make matters worse, the eye-watering hike was accompanied by a warning that prices are continuing to rise ahead of the next revision in January, with Cornwall Insight suggesting the cap could hit £6,616.37 next year. While looking that far ahead leaves enormous room for error if this year is anything to go by, that is devastating for so many and will require immense government support. It will also make the job of the Bank of England horrifically hard, with its previous projection of inflation this year peaking at 13.3% now looking unrealistically optimistic. Five quarters of contraction may also start to look like the optimistic scenario at this rate. Japanese inflation rises but BoJ to remain calm Contrast that with inflation in Japan, where the Tokyo CPI rose to 2.9% y/y in August and only 1.4% ex-fresh food and energy. It’s no surprise the central bank is pushing back against the need to tighten monetary policy at this point in time. Of course, it’s easy to say that when the pressure on the currency and bond yields have eased to the extent they have over the last six weeks. That could well change if Powell strikes a hawkish tone today and triggers another jump in yields and the dollar. Crypto hoping for dovish Powell Everything I write about at the minute seems to require the need to reference back to Jackson Hole and Fed Chair Powell and bitcoin is no different. Last Friday’s sell-off has left bitcoin vulnerable ahead of today’s speech and crypto bulls will be hoping for anything dovish that could help it get back on its feet. The opposite could see $20,000 come under pressure. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. All eyes on Jackson Hole - MarketPulseMarketPulse
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Samsung Securities Announced About Setting Up Its Crypto Exchange!

Conotoxia Comments Conotoxia Comments 26.08.2022 14:50
Samsung Securities, a company engaged in asset management, stock issuance and other financial services, has announced that it will set up its crypto exchange in 2023. The company is expected to start in Korea and later plans to expand to other markets.   The division mentioned above of the company is part of Samsung's large-scale structure, which is part of the so-called chaebols (giant Korean conglomerates). It operates in a wide range of sectors of the global economy - from producing weapons and smartphones to selling clothing or even providing financial services.   The "Securities" division already has experience in implementing crypto-related investment technologies and products. It established the first blockchain ETF (exchange-traded fund) in Asia in June, listed on the Hong Kong Stock Exchange. It gives investors exposure to companies developing and investing in crypto technology.   The company is in talks with regulators and authorities to obtain the necessary approvals and licenses to establish the foundation of the exchange. Mirae Asset Securities and five other domestic companies are also planning to launch their investment platforms, but they do not have as much experience as the rival Samsung.   Earlier this month, the Securities division was one of three financial institutions in South Korea to partner with the country's largest exchange, Bithumb. The partnership meant Samsung Securities customers could indirectly invest in cryptocurrencies through the company's app.   Despite its inflexibility, chaebol has an established market position with enormous outreach and influence. For this reason, acquiring more clients on attractive terms may be easy for the firm, and it could be a significant competitor to Coinbase, Binance FTX or KuCoin.    South Korea seems to be aspiring to become a technology leader in the market. In early August, a "Korea Blockchain Week" event was held in Seoul, bringing together industry leaders, crypto regulation projects revealed are relatively lenient compared to those proposed by authorities in the US, and local companies are interested in further investments in blockchain technology in the DeFi and system infrastructure segments, among others. These plans could make South Korea a hub for the development of crypto technology and companies.  Market losses after recent days of sideways movement   On the Conotoxia MT5 platform, bitcoin and ethereum are losing 1% and 3%, respectively, today at 11 GMT+3. The leading tokens have been outside the previously drawn price channel for a week. The local possible support levels for BTC and ETH are $20700 and $1530, respectively. Their crossing could mean further declines. The continuation of the correction may be indicated by technical indicators such as the MACD, whose histogram for ETH has been falling steadily for a week and a half and now is near zero. In contrast, BTC reached the negative area a few days ago and seems to be falling lower and lower each consecutive day.    The EOS token seems to be losing the most heavily on the trading platform, recording a daily decline of 6.5% at 11:00 GMT+3. EOS is the native token of the EOSIO network, where the project provides blockchain developers with a set of essential tools and services for building and scaling decentralized applications (dApps). Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service)   Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.   CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Samsung plans to open a cryptocurrency exchange - will it succeed in dominating another sector? Market losses after several days of stabilization.
Bitcoin Maintains A Steady Bullish Potential

Crypto: Bitcoin Price Is Vigilant To Powell's Rhetoric!

InstaForex Analysis InstaForex Analysis 26.08.2022 15:16
Everything is at stake! Many financial market assets are ready to go all in, depending on what Jerome Powell says at Jackson Hole. And bitcoin is no exception. Sensitively reacting to the dynamics of American stock indices, and recently to the dynamics of the US dollar, the cryptocurrency needs to indicate the direction of further movement. And who can do it better than the chairman of the Federal Reserve? While Goldman Sachs believes that Powell will present the case for lowering the rate of monetary restriction, JP Morgan believes that he will not be able to surprise with overly aggressive hawkish rhetoric. Both options are positive for risky assets, including equities and crypto assets. Moreover, history shows that the USDBTC downward trend may be about to come to an end. The bear markets of 2014 and 2018 lasted an average of 12–13 months, with a maximum drawdown of 85%. Today, the token has fallen by 70% from the November high, and its peak continues for almost 300 days. On the other hand, September is a seasonally weak period for the crypto industry leader. Bitcoin has consistently closed in the red for the past five years and has declined by an average of 10%. Bitcoin Dynamics in September     This circumstance increases the demand for insurance against BTCUSD quotes falling below 18,000 and 15,000. Interest in options with these strikes has increased significantly, as well as the number of premiums for them. An analysis of the derivatives market also shows the maximum open interest near the psychologically important mark of 20,000. Its breakthrough may provoke a surge in hedging operations, which will take the cryptocurrency significantly lower. The recently increased correlation with the US dollar does not promise a quiet life for bitcoin. In order to achieve its goal of returning inflation to 2%, the Fed must tighten financial conditions, and for this, Powell needs to convince the markets that the federal funds rate will rise to 4% and remain at or above this level for a long time. This creates a tailwind for the US currency and will put pressure on BTCUSD. Dynamics of the US dollar and Bitcoin         In my opinion, without a steady growth above 25,000, it is premature to talk about breaking the downward trend for the analyzed asset. On the contrary, there are increased risks of its further decline towards 18,000. It is doubtful that Jerome Powell in Jackson Hole will spare stock indices, the fall of which will negatively affect the entire cryptocurrency sector. Technically, on the daily chart of BTCUSD, the Three Indians reversal pattern has clearly worked out the revelations in previous materials. It allowed us to form short positions on the token from the level of 24,000. A successful assault on the support at 20,900 will allow building them up based on the exit from the cluster within the framework of the Ross Hook model. The pivot points at 19,800 and 17,800 act as targets for the downward movement. On the contrary, the growth of bitcoin above 22,200 may become the basis for profit taking on shorts and a reversal.   Relevance up to 11:00 2022-08-31 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320020
5 Cryptocurrencies To Keep A Watch On: Harmony (ONE), Potcoin (POT), Football Coin (XFC), HEX (HEX), GameCoin (GMEX)

5 Cryptocurrencies To Keep A Watch On: Harmony (ONE), Potcoin (POT), Football Coin (XFC), HEX (HEX), GameCoin (GMEX)

Rebecca Duthie Rebecca Duthie 26.08.2022 15:59
Summary: A summary of ONE, POT, XFC, HEX, GMEX. Proof of work, proof of stake, proof-of-history, proof-of-stake-velocity. DApps, fantasy football. The Harmony (ONE) Platform Blockchain platform Harmony makes it easier to build and use decentralised applications (DApps). The network focuses on random state sharding, which enables the creation of blocks in just a few seconds, with the goal of innovating the way decentralised apps operate.   The Harmony mainnet seeks to reinvent block creation by putting an emphasis on processing speed and validity. The business drastically decreased node validation times by implementing the sharding method. The Verifiable Random Function (VRF) for impartial and unpredictable shard membership was established by Harmony to assure the protection of nodes and the security of the validation process. This indicates that validators and nodes are randomly assigned and reassigned. An effort of the project called Harmony Grants attempts to encourage innovation and draw developers to the Harmony mainnet. EPoS is intended for quicker processing times and increased scalability, in contrast to proof-of-work (PoW) consensus algorithms. Read more: Altcoins: Harmony (ONE) - What Is It? - A Deeper Look Into the Harmony (ONE) Platform  The Potcoin (POT) Exchange A cryptocurrency called PotCoin was developed to fill a banking gap in the legal marijuana sector. Customers can purchase cannabis products anonymously with PotCoin as well. PotCoin was designed as a cryptocurrency that makes transactions in the legal cannabis industry more quick, easy, and secure. PotCoin is a specialised coin that is only used by the legal marijuana sector. The nearly complete lack of banking services available to legal cannabis enterprises in the US is a major driver of the need for PotCoin. The proof-of-stake-velocity (PoSV) protocol is the operating system used by the PotCoin blockchain. PoSV, a variant on the more popular proof-of-stake algorithm, rewards coin holders for regularly conducting transactions with their cryptocurrency. Similar to Litecoin, potcoin has minimal transaction costs and quick processing times. But unlike Bitcoin and Ethereum, PotCoin does not have a sizable user base, which makes it less liquid and more price volatile. Read more: Altcoins: Potcoin (POT) - What Is It? - A Deeper Look Into the Potcoin (POT) Platform  The Football Coin exchange A fantasy football game called FootballCoin makes use of its own cryptocurrency, called XFC coin. FootballCoin's major objective is to create a link between the fantasy football, cryptocurrency, and football fandoms, as well as to provide users of football managers and fantasy sports with the benefits of blockchain technology and cryptocurrencies. A digital asset called XFC (FootballCoin) serves as in-game money. On the FootballCoin BlockChain platform, a fixed and constrained amount of 1 billion XFC tokens are made available (a Bitcoin type algorithm blockchain). A game economy with no inflation is provided via a fixed and limited number of coin issuances. In the game, XFC can be used to pay the entry fee for competitions, to buy blockchain-based football player and stadium cards, and to trade on exchanges. Read more: Altcoins: Footballcoin (XFC) - What Is It? - A Deeper Look Into the Footballcoin (XFC) Platform  The HEX (HEX) exchange HEX was launched in December 2019, and is the first blockchain Certificate of Deposit, that offers high returns, no minimum and decentralised design. The average return staked on HEX is around 38%. The current circulating supply of HEX is more than 173.4 billion coins, with no maximum supply. The market capitalization is more than $12.8 billion, which puts HEX in the top 10 cryptocurrencies in terms of market capitalisation. HEX is an ERC20 token that is launched on the Ethereum network. The HEX token is designed to act as a store of value to replace the Certificate of Deposit as the blockchain counterpart of the Certificate of Deposits used in traditional financial markets. HEX token is also designed to leverage off the emerging decentralised finance (DeFi) ecosystem in finance using the Ethereum network. HEX utilises the Ethereum network for the transaction layer (the layer that makes it possible to send and receive HEX tokens as well as allowing interactions with the HEX smart contract), whilst the consensus code and staking mechanism is contained in the HEX smart contract. Read more: Altcoins: What Is HEX? - A Deeper Look Into The HEX Blockchain  The Game Coin Exchange Any athlete in the world can create their own sports-related coins using the Game Coin platform. The platform, which enables businesses and individuals to participate in the decentralised market, was developed utilising blockchain technology. All platform transactions are based on Game Coin, which is regarded as the platform's money. GMEX is the platform's official ticker for Game Coin. Every transaction on the site is subject to a 7% transaction fee. The transaction fee contributes to the accomplishment of the mission, and token holders are given the chance to interact, engage, compete, participate, and assess their skills and gifts on a single platform. Read more: Altcoins: GameCoin (GMEX) - What Is It? - A Deeper Look Into the GameCoin (GMEX) Platform  Sources: fxmag.com
What Should We Expect From The Bitcoin Formation In The Near Future?

Bitcoin has failed to break through the $24,350 level in more than a month

InstaForex Analysis InstaForex Analysis 28.08.2022 21:51
  Over the past couple of weeks, the cryptocurrency has fallen by $ 5,000. Recall that we have repeatedly talked about $ 24,350 as a strong resistance level in recent articles. Bitcoin has tried to overcome it three times to continue the kind of correction it has been in for the past 2.5 months. The total "bitcoin" is adjusted for such a period by $ 7,500. Is it necessary to say that the movement of $ 7,500 in 2.5 months is a meager amount for the first cryptocurrency in the world? But the most important thing is something else – bitcoin failed to overcome the level of $ 24,350, failed to overcome the Senkou Span B line, and failed to overcome the trend line. Therefore, everything shows that the decline in its quotes will continue for at least several months. We also remind you that we support the option of a further drop in the "bitcoin" and believe it can drop to $ 10,000 per coin, or maybe even lower. Now no one doubts that the "bullish" trend is over. Therefore, we are inside the "bearish" trend. And any trend on a 24-hour TF is at least a year or two old. Thus, now the nearest target for the fall is the last local minimum near the 127.2% Fibonacci level (marked in the illustration). Next, traders will try to take the cryptocurrency to $ 12,426. It will be some intermediate limit to the fall. I want to note that Bitcoin is already at very low levels. For example, many analytical agencies call the level of $ 20,000 the cost of bitcoin mining (of course, an approximate or weighted average since electricity costs differ in different places). Thus, right now, bitcoin is relatively cheap, but for some reason, investors and institutions are in no hurry to buy it at attractive prices. From our point of view, this is a very important point. If large and medium-sized players expected that the "bearish" trend would end in the near future, they would have started buying the "bitcoin" in advance. But they don't, which means they expect a new fall. Also, for some reason, there are no predictions that bitcoin will soon conquer the world's financial system, displace all fiat money, and cost $ 100,000 per coin.     In the 24-hour timeframe, the quotes of "bitcoin" could not overcome the level of $ 24,350 and fell below the Ichimoku cloud. Thus, the target for a new fall is the level of $ 12,426. We believe there are still no technical grounds for growth, and the rate of 5–10 thousand dollars per coin will become a reality in 2022. Moreover, there was not even a single attempt to gain a foothold above the trend line. A rebound from $ 24,350 is a new signal for sales, and consolidation below $ 18,500 will confirm this signal. Relevance up to 07:00 2022-08-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320089
Bitcoin Maintains A Steady Bullish Potential

"Technology" now gives a huge number of signals for the sale of bitcoin

InstaForex Analysis InstaForex Analysis 28.08.2022 21:53
  On the 4-hour TF, it is even better to see that bitcoin has not managed to surpass $ 24,350. And there were quite a lot of attempts. A weak ascending channel supported the further growth of quotes until recently, but the "bitcoin" dropped below it just yesterday. It means that we have another sell signal at our disposal. Recall that several sell signals were formed on the 24-hour TF. Thus, no matter what TF you look at now, the technical picture says the same thing everywhere. And what about the "foundation"? Those who regularly read our articles should be aware that the key factors in the fall of the euro and the pound (as risky currencies) were the divergence in monetary approaches between the Fed and the ECB with BA, as well as geopolitics. The US dollar was, is, and will be the safest currency, no matter how the Fed pumps up its economy with unsecured dollars (especially since the ECB, BA, and other central banks of the world also did this very actively during the pandemic years). Thus, in "difficult times," it is in demand as a safe asset. Accordingly, the demand for risky assets is falling. And it is difficult to find an asset even riskier than bitcoin. Thus, the geopolitical factor alone is enough for bitcoin to continue flying into the abyss. Also, raising the Fed's key rate plays a very important role. With a rising key rate, demand is growing for bank deposits and treasury bonds, while stocks and cryptocurrencies are falling. If the US stock market is still trying to show growth from time to time, which is probably due to the flow of capital from Europe to the States, then the cryptocurrency market is one, and no one is in a hurry to pour their capital from relatively safe and secured assets into a "dummy."     Unfortunately, after 14 years of existence, bitcoin has not become a "pillar" of the global financial system and has been unable to displace fiat money anywhere (except in El Salvador). For many, bitcoin remains an "investment toy," a tool with which you can earn a lot of money in a relatively short time. As a currency, it is mostly used for payments on the Internet, and even then, it is often for "gray" and "black" transactions. Of course, we do not mean payments for amounts equivalent to $ 100 or $ 1,000. They are too small to be taken into account at all. Thus, for the growth of bitcoin, you need to wait for a favorable fundamental background. And it can be formed only when the Fed at least stops raising the key rate. On the 4-hour timeframe, the quotes of "bitcoin" apparently completed an upward correction. We believe that the decline will now continue. In this case, the first target for sales will be the level of $ 17,582, which is the last local minimum. Next, the overall goal for the two timeframes is $ 12,426. Relevance up to 08:00 2022-08-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320091
The Bitcoin Price Movement Is In The Bullish Channel

Bitcoin: Jerome Powell helps bears

InstaForex Analysis InstaForex Analysis 28.08.2022 21:55
  In previous articles, we have already figured out why bitcoin will likely continue declining. In addition to a whole pile of technical signals for sale, there are a fairly large number of fundamental signals. For example, on Friday, Jerome Powell gave a speech at a Jackson Hole conference. Before we analyze it in detail, we recall that any tightening of the Fed's monetary policy contributes to the fall of cryptocurrencies, particularly "bitcoin." Any hint of tightening monetary policy also works against bitcoin. And on Friday, the markets, we can say, got both. Jerome Powell confirmed that the Fed's monetary policy would remain tight and the monetary approach would remain aggressive. In other words, the Fed will not stop raising the rate in the coming months, as it is now completely unclear whether inflation in the US will continue to slow down or whether the August report was just an accident. Of course, after the publication of the September inflation report, it will become a little clearer what is happening now with the consumer price index. But it's still a long way off, and Powell's performance has already taken place. However, the head of the Fed did not pour promises and specifics in all directions. He noted that much would depend on statistical data, clearly referring to inflation reports, not GDP reports. The growth of the American economy was secretly decided to be neglected in favor of the return of inflation to the target level of 2%. All this suggests that the main cryptocurrency may continue its decline. Geopolitics is also worth noting. A month ago, a new conflict almost broke out on the world map. Then skirmishes began on the border between Serbia and Kosovo, a partially recognized state. Recall that Kosovo appeared on the world's political map after the collapse of Yugoslavia. Since ethnic Serbs remain living on the territory of Kosovo, special treatment is required for them, according to Belgrade. But in Pristina, they believe that the same rules and regulations should apply to everyone in Kosovo. In particular, we are talking about documents used on Kosovo's territory, money, and rules of entry into the country. Pristina is unhappy that many Serbs continue to use Serbian money on the territory of Kosovo, continue to enter and leave using Serbian documents, and are not eager to give them up. On August 1, a law was supposed to come into force that obliges everyone living on the territory of Kosovo to use only Kosovo documents and money. Then, the conflict had almost flared up, but under the influence of NATO, it was possible to postpone the law's entry into force for one month. And now, this month has almost expired, and Serbia is moving heavy military equipment to the border with Kosovo with might and main. Naturally, the deterioration of the geopolitical situation may cause an even greater drop in demand for risky assets. Relevance up to 09:00 2022-08-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320093
Kucoin: Altcoins - Metaverse.Network & Bit.Country (NEER) - What Is It?

Kucoin: Altcoins - Metaverse.Network & Bit.Country (NEER) - What Is It?

Kucoin Blog Kucoin Blog 29.08.2022 08:06
Table of Contents: · What is Metaverse.Network & Bit.Country (NEER)? · How does it work? · Who created the NEER? · What is the NEER token used for? · What makes it unique? · Closing thoughts Talks about the metaverse have taken on a life of their own in recent years. From giant tech companies to regular joes, it seems like everyone is trying to get a piece of the Metaverse pie. However, what if it were possible to build a metaverse you can control without all of the headaches that come with getting the right skills and building one resource at a time?   Imagine launching your metaverse with a narrative that is completely in your control. You could even go ahead and deploy decentralized applications that deliver experiences never before possible with collectibles, smart contracts, and NFTs designed for varying purposes, including e-commerce, gaming, social media, and more.   Well, this is precisely what Bit.Country & Metaverse.Network Pioneer (NEER) is working to facilitate. Metaverse.Network is an L1 blockchain that is being built on Kusama, the canary network of Polkadot and will serve as the foundation for an entire metaverse ecosystem of decentralized applications (DApps). This project is set to be the foundation of space and time in a Web3 world where anyone can develop a metaverse as easily as creating a WordPress site.   What is Metaverse.Network & Bit.Country (NEER)? Bit.Country Pioneer (NEER) is the first decentralized metaverse application to be built on the Metaverse.Network blockchain. Bit.Country allows users to interact directly with the Metaverse.Network layer 1 blockchain. Using the Bit.Country browser-based app, regular users, and developers can access the blockchain and create metaverses without any technical skills. Metaverse.Network is a Substrate-based blockchain that is custom-made and open for metaverse projects. It is connected as a Parachain to the Kusama relay chain. Bit.Country & Metaverse.Network Pioneer is the canary network and will transition to the Polkadot relay chain when Bit.Country & Metaverse.Network when ready for mainnet launch.   The Metaverse.Network platform on the other hand is an EVM-compatible blockchain containing all the protocols required for developing Metaverses and DApps. Metaverse.Network is a high-performance public blockchain that supports smart contracts, NFTs, and dApps.   How Does It Work? The Bit.Country & Metaverse.Network project work together to provide users with an easy way to create metaverses and deploy DApps. The Metaverse.Network is the underlying blockchain that provides the protocols required for metaverses and DApps. The Bit.Country app allows regular users and developers to access the Metaverse.Network and create Metaverses without any previous technical knowledge.   At its core, the project aims to drive a community-first approach that will enable Bit.Country & Metaverse.Network to become the Metaverse OS for a new Web3 internet. This will be done by making it easy for anyone to develop a Metaverse and deploy DApps without the need for expensive hardware or hiring skilled developers.   Metaverse.Network utilizes Substrate technology which is the same technology that powers Polkadot and Kusama. It features a low gas fee NPoS consensus mechanism, and a metaverse-specific NFT Standard. Metaverse.Network is also cross-chain enabled allowing it to connect with other blockchains such as Ethereum, Bitcoin, and more.   As an EVM-compatible blockchain, Metaverse.Network can support all Ethereum-based DApps and therefore can run on Solidity. This means that Metaverse.Network can act as a "sidechain" for Ethereum and process transactions at a much faster rate than Ethereum's mainnet. This makes the Metaverse.Network blockchain scalable due to its sharding technology which allows it to process more transactions per second as the ecosystem grows.   Overall, this project is set to be the foundation of space and time in a Web3 internet where anyone can develop a functional, efficient, and affordable metaverse with ease.   Who Created It? The Bit.Country & Metaverse.Network project is led by a team of experienced blockchain developers and entrepreneurs. The team has a strong vision for the future of the metaverse and is building a community-first approach that will enable Bit.Country & Metaverse.Network to become the foundation for creating metaverses in a Web3 internet.   Metaverse.Network was created by Metaverse Foundation, a non-profit organization based in Singapore. Metaverse Foundation is dedicated to the development of Metaverse and its ecosystem. Formed and officially launched in March 2021, the foundation will also be used to set up grants and bounty programs as incentives for value creation in the Metaverse.Network ecosystem.   What is The NEER Token Used For? The Bit.Country & Metaverse.Network project uses the NUUM token which is the network's currency, and the NEER token which is similar to NUUM but only useful on Bit.Country Pioneer as a canary network for Metaverse.Network   The NUUM token is used to pay transaction fees on the Metaverse.Network blockchain. This token can be used as the universal currency for purchasing resources such as NFTs and Land Blocks on the Bit.Country marketplace.   The NEER token on the other hand operates on the Bit.Country Pioneer canary network where it operates as a smaller token with the same capabilities as the fully-fledged NUUM token. Users can use this token to test out Metaverse.Network's features and functionality before the mainnet launch.   What Makes It Unique? The Metaverse.Network & Bit.Country is unique in its approach to the metaverse. While most metaverse projects scramble to create a centralized system, this project has its focus on a community-owned and created network of metaverses and dApps. The project utilizes Substrate technology which is the same technology that powers Polkadot and Kusama.   It features a low gas fee NPoS consensus mechanism, which is optimized for Metaverse applications. In addition, Metaverse.Network will be the first L1 Metaverse blockchain that focuses on providing metaverse as a service (MaaS) and Bit.Country will be the world's first Dapp to facilitate interoperable and functional user built metaverses. The project also has a strong team with members who have worked in various related fields since 2018.   Closing Thoughts The Bit.Country & Metaverse.Network is unique in many ways. Not only is it the world's first blockchain for Metaverses and DApps, but it is also one of the most ambitious projects in the space. The team behind the project has a clear vision and is working hard to make their vision a reality.   The Metaverse-Foundation has already raised over $20 million and has a strong community backing the project, with big-time industry VC firms such as Animoca Brands, Walsh Wealth Ventures, and Hypersphere Ventures backing the project. The Bit.Country & Metaverse.Network project has the potential to change the game by providing a Metaverse-specific blockchain that is scalable, user-friendly, affordable, and secure.     Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What is Metaverse.Network & Bit.Country (NEER) and How Does it Work? | KuCoin Crypto Gem Observer| KuCoin
What Is BitTorrent (BTTC)? Speed, File System, Rewards. How Does BitTorrent Work?

What Is BitTorrent (BTTC)? Speed, File System, Rewards. How Does BitTorrent Work?

Binance Academy Binance Academy 29.08.2022 10:33
TL;DR BitTorrent is one of the largest decentralized peer-to-peer (P2P) file-sharing platforms. It’s powered by the Tron blockchain and BTTC, a TRC-10 utility token. BTTC is used to incentivize users on the network to provide their local computer resources for fast download speed and secure decentralized storage. The BitTorrent ecosystem also features a community-based live streaming platform, where content creators and viewers can earn and stake BTTC rewards.   Introduction In the 2000s, a common way to download music and movies over the Internet for free was using peer-to-peer (P2P) platforms like BitTorrent. Despite its popularity, one of the biggest challenges for users was the long hours it took to find and download their desired content, as most users weren’t incentivized to continue sharing files to the network once they received their content.    What is BitTorrent?  BitTorrent is one of the largest and longest-standing P2P platforms for data and file sharing. Initially released in 2001 when the Internet was just starting to catch on, BitTorrent revolutionized the way users download and obtain entertainment media and other large files and data.  Later in 2018, BitTorrent was acquired by the Tron Foundation. It relaunched as a decentralized P2P platform on the Tron blockchain, featuring various new tools and integrated a TRC-10 token, BitTorrent (BTTC), to incentivize its network participants.   How does BitTorrent work? The original BitTorrent platform was founded by Bram Cohen and David Harrison to facilitate the interchange of entertainment media, such as movies and music, among Internet users. BitTorrent does not store content on a single server. Instead, the files and data are distributed and hosted across their users’ computers. When a user downloads a file, they will receive pieces of that file (the torrent) from multiple providers within the network, after which they can remain connected to the BitTorrent network and “seed” the file to other users. Within the BitTorrent network, anyone with the complete file can become a seeder. The more seeders support a file, the quicker the download speed. However, there was little incentive for users to remain connected to the network after downloading a file. To enhance the file transferring speed, BitTorrent launched an upgraded version of the BitTorrent protocol that adopts the native cryptocurrency BTTC.   BitTorrent Speed Powered by blockchain technology, BitTorrent Speed enables faster download speed through an incentive system. To request a file, users (“service requestors”) need to submit a bid to specify how many BTTC tokens they are willing to offer to those seeding the file. Once the other parties (“service providers”) accept their bid, the service requestor needs to transfer the agreed-upon BTTC amount into escrow in a payment channel on the Tron blockchain. The BTTC will be credited to the providers after the file is transferred, and the transaction will be logged on the Tron blockchain. BitTorrent Speed uses BTTC to incentivize users to continue seeding files, which can significantly increase the file-sharing efficiency and accelerate the download speed. With more readily-available files on the P2P network, this could also benefit users that are still using the free BitTorrent client to download files from their peers.    BitTorrent File System (BTFS) Beyond file sharing, BitTorrent also features a decentralized P2P file storage system called the BitTorrent File System (BTFS). BTFS aims to offer a scalable, censorship-proof, and cost-effective alternative to the traditional centralized cloud storage.  The BTFS network consists of millions of BTFS nodes called renters and hosts. Renters are users who rent storage on the network and hosts are those that share their idle disk space for BTTC rewards. When renters use the BTFS service, their files will be sharded and distributed to multiple reputable hosts on the network. Through advanced encoding methods and file repairing technologies, BTFS can guarantee the confidentiality and security of the files, and users can access them conveniently without interruptions.   DLive In 2020, BitTorrent acquired DLive, a community-based blockchain live streaming platform, to offer more decentralized services in the BitTorrent ecosystem. In contrast to traditional platforms, both creators and viewers are rewarded for their contributions to the platform. Users who watch, chat, gift, and share content can also earn BTTC rewards. In addition, the BTTC can be staked to earn more rewards and to unlock premium services on DLive.   What is BTTC? BTTC is a TRC-10 utility token of the BitTorrent ecosystem, with a total supply of 990 billion. It was launched to build a token-based economy for networking, sharing bandwidth, and storage resources on the BitTorrent network.  BTTC can be used as payment for P2P services on the network, including paying for decentralized storage space, bidding for file downloading bandwidth, rewarding those who provide these services, and more. BitTorrent plans to utilize BTTC beyond the current use cases, such as crowdfunding the creation of new content, purchasing downloadable assets directly from creators, and tipping live streaming content creators with BTTC gifts on DLive.   How to buy BTTC on Binance? You can buy the BitTorrent Chain token (BTTC) on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and click [Trade] - [Spot]. 2. Search “BTTC” to see the available trading pairs. We’ll use BTTC/BUSD as an example. 3. Go to the [Spot] box and enter the amount of BTTC to buy. In this example, we will use a Market Order. Click [Buy BTTC] and the purchased tokens will be credited to your Spot Wallet. Closing thoughts BitTorrent is a unique project that uses blockchain technology and cryptocurrency to revolutionize its existing peer-to-peer file sharing platform. It offers a more decentralized, efficient, and cost-saving alternative to the traditional P2P file-sharing platform. In the future, the BitTorrent team is looking to add more use cases to the BTTC token and support more DApp functionalities, which could be an enticing tool for developers looking to launch their own DApps with file sharing and storing capabilities.    Source: What Is BitTorrent (BTTC)?
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Cryptocurrency: Bitcoin Price (BTC/USD) - Technical Analysis - 29/08/22

InstaForex Analysis InstaForex Analysis 29.08.2022 10:35
Crypto Industry News: Bitcoin's price has fallen by about 5% after Friday's speech by US Federal Reserve Chairman Jerome Powell in Jackson Hole, Wyoming. He said the central bank would "definitely use its instruments" and it would take some time to fight inflation. Powell discussed the importance of price stability during the meeting. He stated that this is the "backbone of the economy" and that without it, the economy would not benefit anyone. He stressed that price stability must be restored and maintained, but until the economy reaches this point, "it will be harder for households and businesses. Powell said: "These are undesirable costs of controlling inflation. However, not restoring price stability would have had a much worse effect." This year, the price of Bitcoin has been shaken by massive liquidation of the market. The asset is -70% below its all-time high of $69,045 of last November. Technical Market Outlook: The BTC/USD pair has fallen out from the ascending channel around the level of $21,000 and after the Powell statements, the bears had pushed the prices below the level of $20,000. The next target for bears is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice.     Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 09:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290332
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

How Could NFT Be Introduced To The Music World? Ethereum To US Dollar (ETH/USD) - Technical Analysis - 29/08/22

InstaForex Analysis InstaForex Analysis 29.08.2022 10:45
Crypto Industry News: The COVID-19 pandemic has undoubtedly changed our lives. In March 2021, as many as 43% of respondents said that they visit brick-and-mortar stores less frequently. At that time, it was probably influenced by the fear of contracting the coronavirus. Then the situation normalized in May this year as this percentage has dropped to 20%, which is still a considerable value, however. It can be considered that the pandemic has permanently changed our habits and helped us learn to use the Internet in a new way. The number of consumers who choose to shop online is growing. In May 2022, as many as 33% of Poles declared that they prefer to order products this way rather than go to stationary stores for them. This is as much as 9 percentage points (an increase from 24%) more than in March 2021. However, 37% of survey participants mentioned high delivery costs as a barrier when shopping online, 36% - lack of trust in online retailers.The 16% of respondents declared that they intend to buy fewer physical items in the future. "It is expected that with the development of platforms such as the Metaverse, this percentage will increase," the authors of the report add. This means some opportunity for the NFT market. Consumers may in the future buy not a CD of their favorite artist, but digital music along with tokens that confirm the originality of the files. Technical Market Outlook: The ETH/USD pair has been seen making new lower lows as the price is approaching the technical support located at $1,358. The nearest technical resistance is seen at $1,530 - $1,559 and must be clearly violated in order to trigger the up move. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice.     Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Relevance up to 09:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290334
US Dollar Index (DXY) Is Expected To Fall Further

Dollar Reaches 20 Years High And Still Gaining! Cryptocurrency Market's Reaction

Conotoxia Comments Conotoxia Comments 29.08.2022 11:04
The speech by Fed Chairman Jerome Powell, expected by investors, may have shaken the markets. During his address, markets could have seen more volatility, leading to a sell-off in risky assets and another wave of dollar appreciation. On Friday afternoon, when the Fed Chairman spoke in Jackson Hole, the U.S. dollar seemed to strengthen, and again to levels last seen 20 years ago. The U.S. Dollar Index is also attempting today to continue its rise from Friday, surpassing the 109-point level, which could result in the establishment of a new peak in the recent uptrend. Jerome Powell, in his speech, indicated that the Fed is committed to lowering inflation by raising interest rates and keeping them higher for a longer period of time. This, in turn, may have influenced the market's valuation of the Fed's actions on September 21, where investors seem to assume a rate hike of 75 basis points to 3.00-3.25 percent with a 70 percent probability. Before Jackson Hole, this probability was around 50 percent. In Powell's view, the right thing for the Fed to do is to continue the monetary tightening cycle until inflation is within the 2 percent target. The Fed seems to be looking more broadly at the data than a horizon of one or two months, and a possible peak in inflation may not change anything here for the moment. The Federal Reserve chairman also warned against loosening monetary policy prematurely. This may have dashed the market's hopes for a so-called Fed pivot, a 180-degree change in attitude. According to Jerome Powell, fighting inflation may be "painful" for the economy to some extent, but it is better than letting inflation get even more out of control. Such statements may have been followed by a retreat from risky assets in the financial markets. On Friday, major U.S. stock indexes took a dive and erased all potential gains from August. The Dow and S&P 500 lost 3.03 percent and 3.37 percent, respectively, while the Nasdaq Composite lost 3.94 percent, its biggest drop since mid-June. This morning, futures also seemed to show potential losses, dropping between 0.7 percent and 1.3 percent. The cryptocurrency market was also not indifferent to the Fed chairman's words. Bitcoin, which cost $25,000 as recently as mid-August, slipped below the $20,000 level at the end of the month and appears to be approaching its June low. Ethereum, which recently cost $2,000, is now priced below $1,500. Thus, one can see that the market has begun to depend on events in the real economy and on the actions of the Fed, much like the traditional financial markets, to which, after all, it was supposed to be an alternative. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Dollar hits 20 years high. Stock market tumbled
The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

Crypro: Bitcoin (BTC) And Ethereum (ETH) Are Losing A Lot After The Speech In Jackson's Hole!

Conotoxia Comments Conotoxia Comments 29.08.2022 13:50
The crypto market could have collapsed after Jerome Powell's heavily hawkish speech in Jackson Hole. That day, the leading tokens, bitcoin and ethereum lost 4% and 9%, respectively, and continued their declines over the weekend, reaching levels not seen in two months. On the Conotoxia MT5 platform, bitcoin is losing 0.5% today at 10:30 GMT+3. After breaking through the likely support level of $20750 on Friday, the token may have entered a short consolidation phase. However, given the potentially high level of pessimism in the market, it may be expected that this will not last long, with possible further downward movements ahead.  The BTC price is far below the 10-, 20-, 50- and 100-day moving averages. The nearest possible support levels are around $19300 and $18600. The MACD indicator and the directional indicator seem to indicate the continuation of the downtrend. The RSI oscillator may foretell its reversal, slowly entering the overbought area. However, since oscillators can usually give signals well ahead, one should be very cautious about this signal.  On the Conotoxia MT5 platform, ethereum is losing 2% today at 10:30 GMT+3. The token tested the likely support level of $1530 on Friday, then broke through it on Saturday. Unlike BTC, ETH has had a much more intense series of rises, and the potential for continued declines maybe even more tremendous. That's probably why the cryptocurrency hasn't even entered a short consolidation phase like BTC, and instead is set lower and lower on successive daily candles.  ETH is also below the 10-, 20-, 50- and 100-day moving averages. Popular technical indicators (RSI, directional indicator and MACD) seem to point to a continuation of declines. Even the RSI, which may look optimistic for BTC, has yet to reach the overbought area for ETH.  On the Conotoxia MT5 platform, the Cardano project's native token (ADA) is losing strongly today, falling nearly 2.5% at 11:00 GMT+3. Cardano is an ecosystem that allows developers to create tokens and decentralized applications (dApps) within DeFi. ADA uses the Proof-of-Stake (POS) blockchain. For a long time, the project has been considered one of the 10 best projects in the crypto world, according to a Forbes ranking. Currently, the token is most likely following the market and seems to be recovering from the increases over the last two months. The current declines in the crypto market may continue after the Fed chairman's hawkish speech. The expected pivot in monetary policy is likely to happen, but much later than investors anticipated. In the short to medium term, the speculative nature of cryptocurrencies and optimism about blockchain technology could be stifled by the recession, high-interest rates and lower disposable income.    Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Crypto on fire - ETH and BTC are approaching price levels last seen in June
Bitcoin's Drop Caused A Quick Shock To The Market. Look At It!

Bitcoin's Drop Caused A Quick Shock To The Market. Look At It!

Kucoin Blog Kucoin Blog 29.08.2022 16:16
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart   The past week has brought the crypto market nothing but losses, with only a couple of cryptocurrencies managing to not lose their value. The overall cryptocurrency market volume in the past 24 hours came up to $66.73 billion - close to $10 billion less than the previous week.The overall crypto market cap fell below the $1 trillion mark, now totaling $953.14 billion. This ended up being a decrease of 190.7 billion compared to the previous week. Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook. Crypto Market Overview Bitcoin's drop below the $20,000 mark provided a quick shock to the market, causing more people to believe that another leg down is up ahead. BTC’s dominance is steadily declining, now standing at 38.66%. This came as a result of several cryptocurrencies maintaining their price decrease lower than the largest cryptocurrency. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $19,786.11, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to 1,444.75, down 10.78% in the last week. The top performers from the previous week were eCash (XEC), Huobi Token (HT), and IoTeX (IOTX). XEC has increased by 29.28%, while HT gained 17.44% in the past seven days. Finally, IOTX gained 12.51%.     Cryptocurrency Market Heatmap | Source: Coin360 On the other hand, Avalanche (AVAX), STEPN (GMT), and Lido DAO (LDO) were the worst performers of the week. AVAX is down 19.45% to $17.96; GMT is down 16.17% in the last seven days; GRT is down 16.10% to $1.61. Top Altcoin Gainers and Losers Top Altcoin Gainers: eCash (XEC) ➠ 29.28% Huobi Token (HT) ➠ 17.44% IoTeX (IOTX) ➠ 12.51% Top Altcoin Losers: Avalanche (AVAX) ➠ 19.45% STEPN (GMT) ➠ 16.17% Lido DAO (LDO) ➠ 16.10% News Highlights Here are some of the events that made the previous week's crypto news section stand out:   US Stocks Lost $1.25 Trillion in Just One Day Fed Chair Jerome Powell has suggested that larger rate hikes were definitely on the table despite recent data hinting that inflation was already slowing down. As a result of this, investors rushed to cut their riskier investments.   This resulted in the S&P 500 closing down 3.4% on Friday, hitting its lowest levels since late July. The Nasdaq Composite Index didn’t perform much better, as it dropped by 4%. Overall, the US stock market lost more value in one day than the entire market cap of the cryptocurrency market.   Cardano (ADA) Inching Closer to its Vasil Hard Fork Input Output Hong Kong (IOHK), the blockchain company in charge of development for the Cardano network, stated that the Vasil hard fork is “ever closer.” IOHK shared its latest Vasil hard fork status, and posted updates on its three critical mass indicators, which determine the date of the upgrade.   The company indicated that they are looking for 75% of mainnet blocks produced by nodes running the 1.35.3 version, around 25 exchanges upgraded, as well as the top ten key mainnet decentralized applications (DApps) also upgrading to the new version.   When it comes to the current upgrade status, we are looking at around 50% of the transition finalized, with 50% to go until the Vasil hard fork goes live.   US Dollar Hits a New 20-Year High One of the largest gainers in the past weeks was none other than the US dollar. The currency has managed to increase its value, thus hitting a 20-year high. On the other side of the world, the euro has suffered massive losses and lost parity with the dollar.   The US dollar’s surge has historically been a bad indicator for the price of Bitcoin - in fact, the two have a strong inverse correlation.   OpenSea Daily Volume Decreases by 99% OpenSea, the world's largest NFT marketplace, has witnessed a massive drop in daily volumes as fears about a potential NFT bubble burst grow larger.   The marketplace processed nearly $5 million worth of NFT transactions yesterday, which came up to around 99% less than its record high of $405.75 million on May 1. The massive decline in daily volumes came as a result of two factors: The overall crypto bear market, which has affected all aspects of the Web3 sector. The increasing fear of the NFT market being a bubble poised to burst. OpenSea’s user count has seen a massive drop over the past 90 days, with floor prices hitting yearly lows. The greatest example of this is the floor price of the Bored Ape Yacht Club, which dropped by 53% to 72.5 ETH on Aug 28 versus a high of 153.7 ETH on May 1.   The Fear & Greed Index at 24, Market Sentiment Plummets The fear and greed index has pushed back down from the past week, moving from 45 all the way down to 24. The indicator now indicates “extreme fear,” caused by the sudden drop of Bitcoin and other cryptocurrencies.     Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 29/08/2022 - Klaytn - Magma Hard Fork ➺ 30/08/2022 - Tron - Telegram AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin (as well as the rest of the cryptocurrency market) has had a horrible week after Jerome Powell’s announcement that the FED may keep rising interest rates. This statement caused the US stock market to erase over $1 trillion, while Bitcoin tanked and managed to drop below $20,000.   Bitcoin is now around 70% lower than its November 2021 all-time high of $69,000. The current sharp movements occurring in Bitcoin are not caused by technical indicators, but rather by news and announcements coming mostly from the west.   However, while it is true that the market is now ruled by fundamental and sentiment indicators, let’s explore the technical side of BTC as well.   Bitcoin has managed to drop below the large 23.6% Fib retracement sitting at $22,845, thus triggering a sell-off. With the price dropping once again, the largest cryptocurrency by market cap has formed another (much smaller) Fib retracement. BTC is now testing its bottom, sitting at $19.408.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside at an area between $20,750 and $21,620. On the other side, analysts state that traders should watch out for $19,400, as this is the only level separating Bitcoin from the $17,550 level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.   Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>> Listen to 60s Podcast   Source: Weekly Crypto Analysis: BTC Under $20K as HODLers Brace for September
Altcoins: Elrond (EGLD) - What Is It? - A Deeper Look Into the Elrond (EGLD) Platform

Altcoins: Elrond (EGLD) - What Is It? - A Deeper Look Into the Elrond (EGLD) Platform

Rebecca Duthie Rebecca Duthie 29.08.2022 18:48
Summary: What is The Elrond Platform and how does it work? Advantages of the Elrond exchange. Elrond’s past, present and future price positions. The Elrond (EGLD) platform Elrond is a blockchain protocol that uses sharding to provide incredibly quick transaction rates. According to the initiative, the Internet of Things, decentralized finance, and fintech make up the new internet's technology ecosystem. According to reports, its infrastructure for executing smart contracts can handle 15,000 transactions per second with a six-second latency and a $0.001 transaction fee. The native coin of the blockchain is called eGold, or EGLD, and it is employed for network fee payment, stake payments, and validator rewards. Elrond was first announced in August 2019, and its mainnet went live in July 2020. Decentralized applications can be created on the Elrond blockchain for a wide range of use cases and sectors with the use of smart contracts. Own tokens that adhere to the ESDT standard are equally safe, quick, and scalable to Elrond's native EGLD token. Elrond bills itself as a blockchain platform for enterprise use, decentralized apps, and the emerging internet economy. Its tremendous scalability is its key selling feature, and it claims to be the first blockchain network to handle state, network, and transaction sharding. It aims to strengthen its ecosystem and establish EGLD as a store-of-value asset, according to its economics paper.  The current market capitalisation for Elrond is $1,173,471,388. There is a maximum supply of 31,415,926 EGLD tokens, 23,066,288.61 of those are currently in circulation.   The network uses 2,169 validator nodes divided into four shards—three execution shards, each able to process 5,400 transactions per second, and one coordinating shard known as the "Metachain"—to accomplish this goal. State, transactions, and the network are wholly sharded using Elrond's adaptive state sharding architecture. In order to scale, it can add another shard if the throughput requirement is not satisfied. With 1,500 nodes from 29 different countries arranged in 50 shards, it was tested to operate at 263,000 TPS in a public setting. The project encourages platform builders and gives them the opportunity to get 30% of the smart contract fees as royalties in order to increase adoption. During the network's first year,  the business keeps a supply of EGLD tokens available to stake, with validator nodes earning a 36% annual percentage rate. Advantages of the Elrond Platform Lightning-fast transactions and optimal scalability, Elrond, one of the most powerful blockchains, overcomes the issues of scaling and speed by processing transactions simultaneously (Adaptive State Sharding). Extremely safe, The blockchain's hardware infrastructure, which consists of millions of computers called "nodes," stores the data during transactions in encrypted form. All nodes are updated whenever a new data record is created, ensuring that each node always has access to the most recent data. Data security is ensured by cryptographic procedures. Elrond uses the Secure Proof-of-Stake consensus (SPoS) method to increase the blockchain's security to the furthest extent possible. Small transaction costs, In order to make blockchain projects accessible to the general public while maintaining your competitiveness, low transaction costs are a requirement. Elrond is setting the standard with its minimal transaction costs in comparison to traditional payment alternatives. Adaptable Smart contracts, The extensive usage of blockchain technology in multiple use cases is made possible by smart contracts. Elrond ecosystem, A constantly expanding socio-technical ecosystem is developing around the Elrond blockchain through interaction with clients and partners. Optimal for software developers, Building on WASM, the Elrond Virtual Machine is a unique engine for carrying out smart contracts. It adds Rust, C/C++, C#, and Typescript to the list of languages that smart contract developers can use. As a result, you can create smart contracts using the programming language of your choice. Numerous programming languages may currently be compiled using WASM, and WAT enables simple debugging in a human-readable format. Past, present and future prices of The Elrond network (EGLD) Elrond (EGLD) price rose and fell twice in 2022, reaching its overall peak price of $431 in late November 2021. Since then the price has fallen consistently to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, EGLD does fall under this category. According to some analysts, the future price of The Elrond network (EGLD) could reach up to $326 by 2025 and could see a price of more than $1,950 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Elrond Price Chart Sources: finance.yahoo.com, coinmarketcap.com, istari.vision, zipmex.com
Crypto: Naturally, Fed's Jerome Powell Affected Cryptocurrency Market

Crypto: Naturally, Fed's Jerome Powell Affected Cryptocurrency Market

Geco One Geco One 29.08.2022 20:01
Bitcoin (BTC) In line with market expectations, the hawkish speech of the Federal Reserve chairman last Friday contributed to a significant decline in the cryptocurrency market at the end of last week. This fact caused Bitcoin to increase the scale of the depreciation lasting from August 15 to over 22.5%, slipping to the lowest level since mid-July this year. If this sale continues, BTC could soon return to the June and July lows, that is, to the region of USD 19,000. However, it is possible that, due to the relatively calm start of the new week, Bitcoin will see a slight upward recovery soon before it returns to the downward path. The catalyst for another sell-off may be the Wednesday and Friday data from the US labour market, which will undoubtedly significantly impact the Fed’s decision on the September federal funds rate hike scale. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency fell by over 17% in the second half of last week, increasing the range of the depreciation that has been taking place since August 14 this year to a low of 30%. This sell-off plunged the ETH price below $ 1,780 technical support and below $ 1,575. The market is currently testing another $ 1,400 support. However, if this barrier is also overcome, then Ethereum could drop to USD 1,250. Bitcoin Cash (BCH) Over the past few days, Bitcoin Cash has slumped by over 20%, increasing the extent of the depreciation that has been ongoing since July 29 this year to nearly 33%. It also pushed the BCH back to $ 112, one of its lowest levels since mid-July. If the downward trend continues and the cryptocurrency drops below the currently tested support, it could continue its rally toward $ 97, which is another crucial support zone. Litecoin (LTC) Litecoin fell by 20% between August 14 and 20, breaking the bottom from an extended bullish wedge formation. This sell-off stopped at $ 52.50 technical support, where a demand response surfaced on August 20. Due to subsequent gains, the LTC returned to the ​​previously broken support (now resistance) area of $ 57.50, measuring a 38.2% Fibonacci correction from an earlier downward move. In the area of ​​this resistance, the supply response reappeared, and the quotes of this cryptocurrency once again fell to $ 52.50. Therefore, one can conclude that the LTC rate has stalled in the past few days in consolidation between the support at $ 52.50 and the resistance in the area of ​​$ 57.50. Given that the consolidations are corrective patterns and that the market had a downward move earlier, Litecoin is statistically more likely to break the bottom from the current layout, which could drive a further depreciation toward $ 42. Solana (SOL) We notice Solana’s quotations that the cryptocurrency has been moving from mid-June inside the bullish wedge formation. The last increases stopped in mid-August this year, near the upper limit of this system, where a supply reaction appeared again. The declines since then caused the SOL price to drop by almost 38%, breaking the bottom out of the wedge formation and beating the horizontal support of $ 32.50. If this trend continues, the quotations of this cryptocurrency could soon return to the region of the June lows, i.e. to USD 26. Polygon (MATIC) The Polygon cryptocurrency fell by more than 28% between August 14 and August 20 this year, slipping below technical support of $ 0.87. This sell-off stopped around the following support in the $ 0.75 region. The MATIC course has been in the horizontal trend for over a week. So we have a similar situation here as in the case of Litecoin. So if the currently tested support is permanently defeated, the MATIC could drop further to ​​$ 0.61, $ 0.45, or even $ 0.32. Ripple (XRP) Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. This sale stopped only in the vicinity of the technical support of $ 0.3330, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower bound to the earlier consolidation. In reaction to the hawkish speech of the Fed chairman last Friday, the XRP rate rebounded from this resistance, and on Sunday, it fell even below the support of USD 0.333. If the downward trend continues, the price of this cryptocurrency could return to USD 0.30. Nem (XEM) We could also expect a continuation of declines in the Nem cryptocurrency quotes. Its price has dropped by more than 30% since August 11 this year, beating technical support of USD 0.048 and USD 0.043. If this trend continues, XEM could return to the May, June and July lows to the technical support of USD 0.037. Chainlink (LINK) We could also expect further declines in the Chainlink quotation. The LINK exchange rate rebounded on August 13 this year from the technical resistance of USD 9.30, the upper limit of the consolidation lasting from the first half of May this year. The recent sell-off contributed to the defeat of local support around USD 7.20, which may naturally drive a further depreciation towards the lower limit of the said consolidation, i.e. to USD 5.90.
Bitcoin Is Showing The Potential For The Further Downside Rotation

Oh My! Why Did (BTC/USD) Bitcoin Price Decrease?

Ed Moya Ed Moya 29.08.2022 22:01
US stocks are declining after a weekend filled with global central bank hawkishness reinforced the message that global central bank tightening will deliver pain to households and businesses. ​ Friday’s sharp selloff is continuing as expectations for the global energy crisis persist, which will keep inflation risks elevated and lead to a rapid deterioration of economic data. Powell sent a short and direct message that there won’t be a Fed pivot anytime soon and that has markets positioned for further equity weakness. ​ Investors were expecting that once the US got some ugly data, perhaps a couple of negative NFP reports, that the Fed would come to the rescue, but that might not be the case. ​ Premature loosening won’t be happening on the first signs that the economy is slowing down quickly and that raises doubts for anyone who bought stocks earlier this month. ​ ​ All about Europe this week The ECB rate decision will show that the current inflation narrative will force them to deliver massive rate hikes that will kill growth. ​ Over the weekend, ECB’s Rehn said their next step is a significant rate move in September and that it should be by at least 50 basis points. The latest round of ECB talk has been hawkish and that should have markets leaning towards expecting a 75 basis point rate hike. ​ ​ The European Union Commissioner Ursula von der Leyen is preparing an emergency intervention and structural reform of the electricity market. ​ Drastic measures are needed to salvage the European economy as the risks of extremely higher energy costs could trigger a severe recession. ​ Czech officials have suggested capping natural gas used for power generation. ​ The EU is expected to meet on September 9th and is expected to show some plan for tackling the energy crisis. Bitcoin ​ Over the weekend, Bitcoin dipped below the coveted $20,000 price point as risk aversions grew following more global central bank hawkish talk from Jackson Hole. ​ Bitcoin is showing some resilience here as it has clawed back above the $20,000 level, despite widespread stock market weakness. ​ Crypto traders are not used to seeing bitcoin withstand a rout on Wall Street, so this could be a promising sign. ​ Crypto bulls will be tested here as the risk for further risk aversion is high given the trajectory of the global economy. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stock selling continues, Europe in focus, bitcoin back above $20k for now - MarketPulseMarketPulse
Bitcoin price could slide to $17,500 as regulators consider tightening rules around leverage

Bitcoin price could slide to $17,500 as regulators consider tightening rules around leverage

FXStreet News FXStreet News 30.08.2022 02:25
Bitcoin price could see a strong recovery bounce if it manages to flip above the recently broken trend line. In such a case, investors can expect a revisit to $20,750 and $22,400. A failure to flip above the broken trend line could send BTC to collect liquidity resting between the July 13 and June 18 swing lows at $18,889 to $17,578, respectively. Bitcoin price is lost in no man’s land after crashing below $22,000 on August 26. This sell-off was followed by a tight consolidation that led to another nosedive that has pushed BTC below its support trend line. A recovery above this level will signal an imminent bounce, but a failure could result in a swift continuation of the downtrend. While the technicals are bearish in the long term and ambiguous in the short-term, crypto adoption seems to be going well as the Monetary Authority of Singapore (MAS) considers implementing new restrictions regarding the use of leverage in cryptocurrency markets. Ravi Menon, the managing director at MAS said that retail investors are oblivious to the risks involved in trading and leverage but also acknowledges that banning cryptocurrencies will not work. Bitcoin price hopes for a recovery Bitcoin price has slipped below the ascending parallel channel formed between August 19 and 25, triggering a 10% crash to $19,513. So far, the sellers seem to be pausing, allowing buyers to step in. If successful, this development could trigger a recovery rally to retest $20,750. Depending on the momentum, however, this move could extend to $22.400. Confirmation of this bullish move will come from BTC recovering above the declining trend line formed by connecting the June 30 and July 13 swing lows. BTC/USD 12-hour chart Regardless of the buyers’ attempts, market makers are likely to target the liquidity resting below the swing lows formed between July 13 and June 18, pitching Bitcoin price lower to try and scrape it up. This would lead to an extension down from $18,889 to $17,578, especially if bulls fail to step in.
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Crypto: BTC/USD. Bitcoin Is "Technically One Of The Worst Cryptocurrencies"!?

InstaForex Analysis InstaForex Analysis 30.08.2022 10:24
Relevance up to 07:00 2022-08-31 UTC+2 Crypto Industry News: Founder and Investment Director of Cyber Capital Cryptocurrency Fund Justin Bons called Bitcoin (BTC) "technically one of the worst cryptocurrencies" and "purely speculative asset without utility" compared to other cryptocurrencies due to the lack of technological advancement. Bons added his opinion in an 11-part Twitter thread on Sunday, stating that Bitcoin's value proposition has long been deteriorating due to a broken long-term security model, relatively weak economic features, and a lack of capability, programmability, and composing. Bons has been an expressive figure in the crypto community for several years now, establishing one of the oldest European cryptocurrency funds, Cyber Capital in 2016, and as of 2014 considered a full-time cryptocurrency researcher. In addition, Bons runs nodes on the Bitcoin and Bitcoin Cash networks. Justin Bons said he vigorously defended BTC in 2014, said "the reality is that BTC has changed dramatically since then," with the decision not to increase the block size limit, "a serious departure from the original vision and purpose. Bitcoin ". Technical Market Outlook: The BTC/USD pair has been seen making a pull-back towards the level of $20,716 after the bears had pushed the market out of the channel. The next target for bears is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Source: Forex Analysis & Reviews: Technical Analysis of BTC/USD for August 30, 2022
Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Mt. Gox's Recovered Bitcoins Seems Not To Be Paid Back To Creditors This Month

Saxo Bank Saxo Bank 30.08.2022 15:06
Summary:  Since the largest Bitcoin exchange Mt. Gox was hacked in 2014, the trustee has managed to recover around 141,000 out of 850,000 Bitcoins. The recovered Bitcoins were rumored to be paid back to creditors this August. Yet, it seems that it will not occur in the next months, making the market wait in fear of potential imminent selling pressure. The market anxiously awaits 141,000 Bitcoins from Mt. Gox In 2014, the largest Bitcoin exchange at the time called Mt. Gox leaked a total of 850,000 Bitcoins through a hack. Out of a maximum supply of 21mn Bitcoins, the hack is the most consequential in the history of crypto, although there have been many other hacks. Though, the trustee managed to recover around 141,000 Bitcoins, which have to date not been paid out to creditors; that is clients with Bitcoins deposited to Mt. Gox back in the days. With a recovery plan approved by creditors last year, the payout is undoubtedly coming closer. It was rumored in July to take place this August. However, it now seems that it is still months away, as the repayment system is not yet live. Although the Bitcoins are likely not to be repaid in the coming months, it is expected to take place at some point. The market has been severely anxious with respect to the 141,000 Bitcoins potentially flooding the market immediately following the payout, since creditors may see it as a race in liquidating the Bitcoins before everyone else. Since Mt. Gox was hacked, the value of the Bitcoins has increased by a factor of 35, so the creditors might want to secure some profit. What speaks against this race to liquidate the Bitcoins is that the trustee is likely to repay the Bitcoins in installments one at a time. Likewise, these creditors are mainly strong Bitcoin advocates soon having been around for a decade. A substantial portion of them have already made life-changing money, so they are less prone to sell the Bitcoins. As the past has often proved, the anticipation of imminent heavy selling pressure is often more powerful for a potential downward trajectory than the selling pressure itself. Strictly speaking, we do not expect the repayment to pose heavy selling pressure, particularly if it occurs in relatively minor installments at a time. Yet, we have our eyes on the market’s anticipation of the repayment, because it might spread fear across the market since it is predominantly dominated by retail more inclined to fear. See you on the other side, dear NFT hype The crypto trend of 2021 was arguably non-fungible tokens (NFTs). The biggest winner of this trend was the largest NFT marketplace OpenSea, facilitating a volume worth $14bn in 2021. While OpenSea started the year nicely with an all-time high monthly volume of over $5bn in January, it has since seen its volume decline massively. OpenSea has recorded a volume worth $480mn in August so far, in which its volume barely exceeds $10mn some days. The declining volume is mainly a result of a less speculative market combined with diminished prices denominated in Ether and even more in dollar terms. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Anxiously awaiting 141,000 Bitcoins
Canadian Dollar Falters as USD/CAD Tests Key Support Amidst Rising Oil Prices and Economic Data

"Fight Against Inflation Is Our Primary Concern..." Central Banks Predicate

Craig Erlam Craig Erlam 30.08.2022 16:05
Stock markets are bouncing back on Tuesday following a rocky couple of weeks as investors grew nervous about the economic impact of tightening. Fed Chair Jerome Powell could not have been more clear on Friday on the central bank’s tightening stance and unlike the warnings from his colleagues, the message appeared to have finally gotten through. Which makes today’s move all the more curious. It’s not the fact that we’re seeing a rebound as equity markets don’t move in straight lines, rather it’s the strength of it that is interesting. Prior to Friday’s speech, investors appeared determined to cast aside warnings in favour of the dovish pivot narrative and today’s moves may suggest the same could still be true after a brief pullback. With a 75 basis point rate hike now viewed as the more likely outcome from the Fed in a few weeks and ECB officials putting a similar move on the table ahead of its meeting next week, how strong of a recovery can we really expect in equity markets? Central banks have made it perfectly clear now that the fight against inflation is their primary concern and a hard landing may just be the price to pay. While that may change if we see any significant improvement on the inflation front over the coming months, the risks still appear more tilted to the downside for the economy. A big moment for bitcoin Bitcoin is enjoying a slight recovery today after surviving a brief dip below $20,000 over the weekend. The hawkish sentiment by Powell took its toll at the end of the week but crypto bulls are fighting back to defend what could be a key level. We may need to see more of the resilience displayed in recent months as a failure to do so could quickly see bitcoin retesting the June lows. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.   Source: A curious rebound
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Week Full Of Important Economic Events That Directly Affect The quotes Of ETH. Ethereum in an upward trend?

InstaForex Analysis InstaForex Analysis 30.08.2022 16:34
The main altcoin continued its downward movement following Bitcoin, which broke through the $20k level amid disappointing statements by the head of the Fed. The situation around the altcoin looks more alarming given the presence of fundamental grounds for growth. However, the market is seeing signs of declining trading activity on the ETH network. A lot of questions are raised by the strategy of "whales," who are actively transferring ether coins to crypto exchanges, emptying cold wallets. Market participants regard this as an intention to sell large amounts of ETH and collapse the price.     The fundamental background in the form of the Merge update failed to save Ethereum from a direct correlation with stock indices. According to Santiment data, Ethereum closely follows the S&P 500 stock index. This proves the high level of Ethereum's dependence on macroeconomic events and also indicates that the upward movement of the cryptocurrency is limited by correlation with stock assets. Another negative factor was the announcement of the major crypto mining pool AntPool. The Bitmain subsidiary will not support client assets in Ethereum after the Merge update.     The resonant statement of AntPool is justified and goes far beyond the statement of one mining company. The fact is that the crypto community is seriously concerned about the issue of Ethereum censorship after the transition to PoS. This is largely dictated by the US sanctions policy regarding Tornado Cash. The position of Ethereum as one of the alternatives to the classical financial system, free from outside influence, has been significantly shaken. Investors are evaluating the risks of moving their assets to Ethereum 2.0 due to the chance of being censored and losing their funds. All these factors have become a catalyst for the decline in ether quotes last week.     However, the wide discourse around the ETH merger has favorably influenced the current position of the cryptocurrency. A temporary decrease in activity in the altcoin network led to a significant drop in fees. As of August 30, the transaction fee on the Ethereum network is $0.39. This provoked a lot of interest in the Ethereum network, due to which the number of addresses with a non-zero balance reached a new record at around 85,456,864. After a local pause, the Ethereum network also recorded an increase in trading volumes, which fully corresponds to the technical picture of what is happening with ETH.     Technically, Ethereum is showing resilience to selling pressure. The coin again fell to $1,500 but subsequently successfully defended this frontier. Following the results of August 29, a strong buying signal formed on the altcoin's daily chart. After testing the $1,500 level, Ethereum formed a "bullish absorption" pattern, suggesting the activation of buyers. It is important to note that the size of the bullish candle is twice the volume of the red candle for August 28. This is a positive signal that may indicate the emergence of an upward trend.   Just as importantly, thanks to the integrity of the $1,500 mark, ETH keeps the cup and handle pattern relevant. Therefore, the potential for an upward movement with a target up to $2,800 also remains relevant for the coming months. Despite the formation of a strong bullish signal, the technical charts do not look encouraging. The MACD indicator continues its downward movement in the red zone, which indicates that only a short-term upward trend is likely to form. The RSI index and the stochastic oscillator tried to develop an upward spurt during the formation of the "absorption" but subsequently acquired a flat direction.   Ethereum ends the last month of summer in uncertainty. Buying activity and institutional attention remain at a decent level, but this process does not find a significant reflection on the cryptocurrency charts. However, on the daily chart of Ethereum, we see clear signs of a decrease in correlation with the S&P 500. This is an important part of preparing for an upward movement before the confluence, as a drop in the level of correlation makes the altcoin more independent. As for the short term, ETH is able to reach the $1,700–$1,850 area. However, this week is full of important economic events that directly affect the quotes of ETH, SPX, and Bitcoin. For example, PMI data and non-agricultural employment data in the US economy will be released. These indicators play a key role in shaping Fed policy. With this in mind, we should expect increased volatility, in the coming days, rather than systematic growth towards certain targets. Relevance up to 09:00 2022-08-31 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320276
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Altcoins: Geojam Token (JAM) - What Is It? - A Deeper Look Into the Geojam (JAM) Platform

Rebecca Duthie Rebecca Duthie 30.08.2022 16:39
Summary: What is The Geojam Platform and how does it work? Advantages of the Geojam exchange. Geojam’s past, present and future price positions. The GeoJam Platform Fans can now interact directly with celebrities, athletes, and influencers like Mariah Carey, Machine Gun Kelly, and Nyjah Huston thanks to Geojam. With the launch of the cryptocurrency, $JAM, the platform integrates the principles of independent cryptocurrency communities and traditional social networking while fusing the technological developments of decentralised finance with real-world experiences. Fans that participate in the communities and activities they love can earn the $JAM token, which can then be exchanged for access to those same communities and creators as well as goods, experiences, and Non-Fungible Tokens (NFTs). By rewarding creators for their social influence in exchange for giving their followers chances and experiences, $JAM will revive the true worth of the creator economy. There are now two ways on the platform to redeem experiences and extra offerings: jam shop transactions and campaign competitions. Two new pool types, Creator Access Pools and Proposal Pools, will soon be introduced on Geojam (CAPs). Let's discuss staking pools in more detail. Decentralised networks' nodes are motivated to contribute extra services (bandwidth, processing power, etc.) to the network in return for a share of block rewards and fees. Numerous decentralised networks need cryptocurrency as initial collateral before nodes can join the network. On Geojam, pools function similarly, requiring participants to stake $JAM in return for rewards and access to an endless array of games, experiences, and unique items in the Jam Shop. The following is a breakdown of their products: Pools of proposals Geojam and user-generated initiatives are requests for features or creator opportunities, and proposals are a type of platform governance where users must stake $JAM to participate. In the end, many of these ideas will become experiences in Creator Access Pools (CAP). Pools called Creator Access Pools (CAP) are those that a creator hosts. The designer develops special prospects that will entice users to bet $JAM from crowds. To gain direct access to a creator's experiences, tickets, goods, NFTs, material, etc., a user can wager $JAM on the creator's CAP. Participation in the activity rewards both the creator and the user. By rewarding creators for their social influence in exchange for giving their followers chances and experiences, $JAM will revive the true worth of the creator economy. An ERC-20 $JAM coin that was released in Q4 of 2021 will represent the first stage of the token cycle. Basic staking features are available for this token. In phase two, we will switch over to the L0 token. L0 tokens will be exchangeable for ERC-20 $JAM tokens. The current market capitalisation for this crypto is $3,070,389. There is a maximum supply of 8 billion JAM tokens, 9% of these are currently in circulation. Advantages of the Geojam Token Platform Decentralised finance, they integrate the values of independent cryptocurrency communities and traditional social networking while fusing the technological advances of decentralised finance with real-world experiences. Exclusive offerings, Fans can earn $JAM by taking part in communities on the Geojam app. The same communities can be supported with $JAM, which can also be exchanged for goods, services, and Non-Fungible Tokens (NFTs). Community governance, by encouraging creator contributions to provide the best user experience and bringing new features and ideas to life in a motivating and engaging way, $JAM enables the community to participate and assist in the development of the platform. Proposal pools, To bring their craziest ideas and desires to life, fans and creators can submit, vote, and stake. Through proposal pools, our community establishes direct contact with creators while demonstrating financial support with staked $JAM. Creator access pools (CAP), The designer comes up with special chances that entice people to stake $JAM. To gain direct access to a creator, their experiences, tickets, products, NFTs, content, and more, a user can wager $JAM on the creator's CAP. Participation in the activity rewards both the creator and the user. NFTs and the Metaverse, NFTs created on $JAM are linked to the creator's profile, and they can be exhibited and used in our metaverse, giving them a social nature that increases their worth. Present and future prices of The Geojam Token network (JAM) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, JAM does fall under this category. According to some analysts, the future price of The Geojam Token network (JAM) could reach up to $0.02 by 2025 and could see a price of more than $0.13 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. JAM Price Chart Sources: finance.yahoo.com, coinmarketcap.com, geojam.com, swapspace.co
What Is BitTorrent (BTTC)? Speed, File System, Rewards. How Does BitTorrent Work?

Altcoins: Alpine F1 Team Fan Token (ALPINE) - What Is It? - A Deeper Look Into the Alpine F1 Team Fan Token (ALPINE) Platform

Rebecca Duthie Rebecca Duthie 31.08.2022 15:23
Summary: What is The ALPINE Platform and how does it work? ALPINE’s past, present and future price positions. The Alpine Exchange The biggest and most well-known cryptocurrency exchange in the world, Binance, has created the first Formula One-themed fan token called Alpine F1 Team Fan Token (ALPINE). The ALPINE token will enable supporters of the Alpine F1 Team an opportunity to interact with the racing brand after Binance published its first fan token in LAZIO. The coin, according to Binance, would "revolutionize the fan experience" by enabling fans to: Take part in polls for team voting, Hunt for digital treasures, and buy NFTs, Take use of gamification aspects connected to fan rewards or wonderful experiences. The current market capitalisation for ALPINE is $47,427,912. There is a maximum supply of 40 million ALPINE tokens, 11,36 million of these are currently in circulation. Fan tokens were first made popular by Socios, and then Binance took over the introduction of fresh tokens like PORTO. Beginning with the upcoming season, the new Alpine A522 vehicles will sport the Binance logo. Executives at Alpine were extremely happy with the transaction. According to F1 team CEO Laurent Rossi, "partnering with Binance ignites our passion to revolutionize the racing environment and opens avenues for more innovative fan involvement." The CEO of Binance Fiat Exchange, Helen Hai, expressed her enthusiasm for the agreement, saying that "we [Binance] hope to offer equally interesting experiences to the blockchain and generate even more usefulness for ALPINE holders, to broaden the spectrum of activities fans can currently undertake on our platform. We are just approaching 'turn one' of 'lap one' on the token race track; and possibilities are truly endless." The ALPINE cryptocurrency has a number of present and potential uses, according to Binance. Owners of ALPINE tokens will have access to voting sessions on Binance as soon as the token launches. Other fan tokens like LAZIO and PORTO allowed fans to vote on subjects like selecting the starting eleven for a test game and influencing what color the captain's band should be, although Alpine hasn't yet provided any ideas regarding how this could appear in practice. Additionally, at the so-called "NFT PowerStation," owners of ALPINE will be able to stake their NFTs for awards and other digital collectibles. Gift cards and subscriptions to loyalty programs are also included. In addition, they will have access to extra perks like meeting the drivers in person and having meet-and-greets on the Binance Fan Token Platform, where they can directly communicate with the F1 team. Owners of tokens will eventually be able to provide money directly to the team and get a loyalty badge in return. To further engage token holders, the site will also offer more gamification aspects. For instance, supporters will be able to use their fan token to pay for team membership and purchase merchandise from the team's online store. Present and future prices of The Alpine F1 Team Fan Token (ALPINE) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ALPINE does fall under this category. According to some analysts, the future price of The Alpine F1 Team Fan Token (ALPINE) could reach up to $14.64 by 2025 and could see a price of more than $95.72 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ALPINE Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com    
Mantra (OM). Introduction, OMniverse, OM Token, Mantra DAO And Mantra Chain

Mantra (OM). Introduction, OMniverse, OM Token, Mantra DAO And Mantra Chain

Binance Academy Binance Academy 31.08.2022 17:35
TL;DR MANTRA is a vertically-integrated blockchain ecosystem. The MANTRA OMniverse encompasses the DAO; MANTRA Nodes: a blockchain infrastructure-as-a-service business; MANTRA Chain: a protocol for various assets for the Cosmos ecosystem; and MANTRA Finance: a DeFi platform that brings the speed and transparency of DeFi to the world of TradFi.   Introduction Launched in 2020, MANTRA is a vertically-integrated blockchain ecosystem. Previously known as MANTRA DAO, the ecosystem carries a reputation for an open and honest approach to crypto trading, fund-building, and innovation, all part of its goal to make crypto-pioneering personal, safe and secure.   What is the OMniverse? With MANTRA’s rebrand also came the restructuring of MANTRA into the all-encompassing MANTRA ecosystem, otherwise known as the OMniverse. The OMniverse is made up of four stacks that comprise the wide variety of products and services MANTRA offers to both retail and institutional investors. The four stacks are MANTRA Nodes, MANTRA Chain, MANTRA Finance and MANTRA DAO, with each comprising a range of innovative products within MANTRA’s ecosystem.  MANTRA Nodes MANTRA Nodes is the cornerstone of the vertically integrated stack that is the foundation for the OMniverse. The primary function of the node operations is to generate revenue for the business and grow Sherpa community holdings by providing more yield-earning opportunities across multiple blockchains. Additionally, these validator nodes support MANTRA in building a presence on new and emerging blockchain networks and growing it into a larger institutional space as an ecosystem. It also opens up opportunities to expand MANTRA’s multi-chain DeFi ecosystem. MANTRA also offers Infrastructure as a Service (IaaS), meaning it can set up validator node operations for both institutions and individuals. The MANTRA Nodes service line also includes node management, retail staking (both on- and off-chain), institutional nodes, and cloud / white-label node development and deployment. MANTRA Chain MANTRA Chain is the protocol for the Cosmos ecosystem. It is interoperable with other blockchains in Cosmos with the IBC module, providing developer tools and an opportunity to build anything from games and web3 applications to secure and decentralized exchanges (DEXs). The network is also EVM-compatible, combining the flexibility and reliability of both the Cosmos and Ethereum ecosystems in a builder-friendly environment.  MANTRA Chain also utilizes a powerful decentralized identify (DID) module for all KYC & AML needs. The module facilitates the development of the products that utilize enhanced features and ecosystems. MANTRA Finance MANTRA Finance aims to be a platform that brings the speed and transparency of DeFi to the established yet opaque TradFi world. The platform will allow for users around the world to trade, issue, and earn from digital assets in a non-custodial and permissionless way. MANTRA DAO Since its inception, MANTRA has always focused on involving its community at every stage, and the transparent governance mechanism is the core that brings the people together. To reach a wider community outside of the OMniverse and Sherpas, M DAO strives to bring this narrative and structure to other projects and their many protocols. The stack offers DAO services that securely increase the efficiency of various DAOs’ business functions, from finance to HR management. For example, some DAO solutions include treasury management, DAO issuance and launchpads, and DAO governance and grants, as well as DAO staking and DeFi. Some successful DAO partnerships include HeliSwap, the first DEX & DAO on the Hedera network and ZENSTAR, the first substrate based money-market built on the Astar network on Polkadot. The OM Token $OM is the native token of the OMniverse and has various utility including:Governance: $OM stakers can issue proposals, participate in governance votes, and suggest developments in various products across the OMniverse.Staking: $OM can be staked directly on MANTRA’s web app or on Binance for passive yield earning.DAO Token Access/ Airdrop Incentives: $OM stakers get special access to new DAO token issuances as well as partnering DAO token airdrops. Now that you’re familiar with the essential stacks that make up MANTRA as an ecosystem, let’s look at how you can buy MANTRA’s tokens, $OM, on Binance.  How to buy $OM on Binance   1. Log in to your Binance account and go to [Trade] -> [Spot]. 2. Type “OM” in the search bar to view the available trading pairs. We will use OM/BUSD as an example. 3. Go to the [Spot] box and enter the amount of $OM you want to buy. In this example, we will use a market order. Click [Buy OM] to confirm your order, and the purchased $OM will be credited to your Spot Wallet. How to stake $OM on Binance? 1. Log in to your Binance account and go to [Earn] -> [Binance Earn]. 2. Type “OM” in the search bar to view the available staking period (30, 60 or 90 days) and click [Stake Now]. 4. Enter the amount of OM you would like to stake and click [confirm]. Closing thoughts While MANTRA aims to create a secure, safe, and personal ecosystem for its users, it’s always important to remember that the crypto industry is not free of risks. Familiarizing yourself with MANTRA’s infrastructure will help you understand the services provided within the OMniverse.   Source: What Is MANTRA (OM)?
Ethereum Could Drop Deeper As The Bias Remains Bearish

The Down Trend On The Ethereum. The ETH/USD Pair Has Broken Above The Technical Resistanc

InstaForex Analysis InstaForex Analysis 01.09.2022 09:32
Crypto Industry News: Cryptocurrencies continue to face varying responses from governments around the world as some have accepted an emerging asset class while others try to ban certain aspects of their use to protect their financial interests. Japan sits firmly in the camp of promoting the benefits of cryptocurrency, as evidenced by a new proposal from the Financial Services Agency (FSA), a national financial regulator, which aims to ease the corporate tax on cryptocurrency profits to help bolster the economy. Based on a proposed revision, the FSA is trying to exclude companies from paying taxes on the paper-based cryptocurrency profits they hold after they are released. It also calls for the improvement of the scheme that gives tax credits to individual investors. The agency is taking this step to support Prime Minister Fumio Kishida's "New Capitalism" vision, which aims to revive the world's third largest economy. As part of his goal, Kishida is committed to helping Web3 businesses grow in the country and double the wealth of households. The current corporate tax rate of 30% is applied to profits from cryptocurrency holdings, including unrealized gains, prompting some companies to relocate to Singapore or other jurisdictions. This move by the FSA aims to combat this problem and encourage these companies to stay in Japan. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains around the upper channel line. The next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290943
What Should We Expect From The Bitcoin Formation In The Near Future?

The BTC/USD Pair Looks Like A Double Bottom Price. Iran's Ministry Of Industry, Mines And Trade Has Approved The Use Of Cryptocurrencies For Imports

InstaForex Analysis InstaForex Analysis 01.09.2022 09:41
Crypto Industry News: Iran's Ministry of Industry, Mines and Trade has approved the use of cryptocurrencies for imports amid ongoing international trade sanctions. According to local press reports, Trade Minister Reza Fatemi Amin has confirmed that detailed regulations have been approved specifying the use of cryptocurrencies in trading and the supply of fuel and electricity to cryptocurrency miners in the country. Amin unveiled the rule change at an auto industry show on Sunday, just a week after the country placed its first-ever $ 10 million vehicle import order using cryptocurrency as a payment method. The Iranian ministry of commerce previously indicated that the use of cryptocurrencies and smart contracts would be widely used in foreign trade until September 2022. After allowing cryptocurrency-financed imports, the Iranian import association has called for clear regulatory parameters to ensure local businesses and importers are not paralyzed by changing directives. The minister noted that the new regulations define all issues related to cryptocurrencies, including the licensing process and the supply of fuels and energy to cryptocurrency excavator operators in the country. Understandably, local companies will be able to import vehicles into Iran and a range of different imported goods using cryptocurrencies instead of paying in US dollars or euros. International trade sanctions against Iran were largely driven by opposition to its nuclear program, which essentially cut the country off from the global banking system. Technical Market Outlook: The BTC/USD pair had tested the level of $19,546 and it looks like a Double Bottom price pattern of the H4 time frame chart. Currently, the market is consolidating in a narrow zone and only a clear and sustained breakout below this level might extend the drop towards the next target for bears that is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290941
Scottie Pippen (Basketball Player) Received A Personalized NFT

The Cryptocurrency Market Expects The Worst Decline In Bitcoin

InstaForex Analysis InstaForex Analysis 01.09.2022 14:31
Bitcoin price plunged below $20,000. It was another day of disappointing activity in the crypto market as prices dipped in the absence of any major events, which is typical of a crypto winter. The bulls should show more strength to break the downward trend, which is still evident on the daily chart. The bears still have a small overall short-term technical advantage. As for where the price could move next based on the current state of the market, analysts warn of the possibility of a decline to $11,000 at worst, while noting that at the moment, at best, support is at the 2017 high. Boring day in the altcoin market: Activity in the altcoin market largely reflected the performance of bitcoin, with most tokens trading flat the day after an early decline. Ethereum (ETH) staking platform Lido DAO (LDO) leads altcoins for the second day in a row, gaining 11.3% as the Ethereum merger date approaches. Other notable indicators include a 9.75% increase for MXC (MXC) and a 9.54% increase for the Curve DAO (CRV) token. The total market capitalization of cryptocurrencies currently stands at $985 billion, with a Bitcoin dominance rate of 39.3%.     Relevance up to 12:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320565
4 Cryptocurrencies To Keep A Watch On: Elrond (EGLD), Geojam (JAM), Alpine F1 Team Fan Token (ALPINE), QTUM Token (QTUM)

Altcoins: QTUM Token (QTUM) - What Is It? - A Deeper Look Into the QTUM (QTUM) Platform

Rebecca Duthie Rebecca Duthie 01.09.2022 16:05
Summary: What is The Qtum Platform and how does it work? Advantages of the Qtum exchange. Qtum’s present and future price positions. The QTUM Platform Qtum (pronounced "quantum") is an open-source blockchain platform for proof-of-stake (PoS) smart contracts and a value transfer mechanism. It aspires to combine the advantages of Bitcoin and Ethereum into a single chain. With the addition of smart contract execution and DApps, Qtum is based on Bitcoin's UTXO transaction architecture. DeFi applications are now supported by the platform. On the Qtum blockchain, more than 20 tokens have been generated as of March 2021. The project had its ICO in March 2017, a year after it had been announced, and it raised $15 million USD for its founders. On September 13, 2017, the Qtum main chain was made available. When the mainnet was launched, the Qtum coin was transformed from its initial ETH-20 token form to a native blockchain. The current market capitalisation for Qtum is $325,099,170. There is a maximum supply of 107,822,406 - 97% of which are currently in circulation. Qtum is a general-purpose blockchain that aims to address the four issues that its founders found most problematic with the BTC and ETH blockchain platforms: governance, interoperability, rigidity and cost of the proof-of-work mechanism, and difficulty connecting smart contracts with practical applications. Account Abstraction Layer (AAL) and Decentralized Governance Protocol are two distinctive technologies on the Qtum blockchain that seek to address this issue (DGP). The UTXO (Unspent Transaction Output) account layer, which comes from Bitcoin, is combined with the Ethereum-inspired smart contract layer in the Account Abstraction Layer. Users can create programs and host them on virtual machines like the x86 virtual machine and the Ethereum Virtual Machine (EVM). Additionally, it supports the i686 instruction set and a number of programming languages, including C, C++, Rust, and Python, making it simple to adapt already existing apps and compile for Qtum. In addition to enabling Turing-complete smart contracts, Qtum intends to incorporate standard programming libraries as smart contracts. As the network develops, the Decentralized Governance Protocol enables smart contracts to alter fundamental network characteristics like block size and gas prices without ever having to hard fork the blockchain. This may save a ton of hassle. Through voting, the entire ecosystem of miners (stakers), developers, and QTUM owners participate in the governance of the blockchain, enabling self-management, upgrades, and iteration. Advantages of the Qtum Platform Proof-of-stake 3.0, If you wish to receive your stake reward using PoS 3.0, you must have your node online at all times. In comparison to those who have a lot of coins but keep their node offline, those who maintain their node while having less coins will receive stake rewards. An improvement on Ethereum's PoS implementation is Qtum's PoS. Bitcoin and Ethereum have the two most prosperous blockchains in the cryptocurrency world. By combining characteristics from both of these well-proven and widely acknowledged blockchains, Qtum unites them. More Secure and Scalable UTXO Model, In the UTXO approach, each transaction's history can be transparently tracked back through the public ledger. The UTXO model's capacity to initialize transactions across many addresses in parallel processing demonstrates its extensibility. The UTXO concept also provides anonymity because it allows users to use Change Address as a UTXO output. The UTXO model's novel design serves as the foundation for Qtum's implementation of smart contracts. Present and future prices of The Qtum network (QTUM) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, QTUM does fall under this category. According to some analysts, the future price of The Qtum network (QTUM) could reach up to $16.14 by 2025 and could see a price of more than $116.13 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. QTUM Price Chart Sources: finance.yahoo.com, coinmarketcap.com, medium.com, technewsleader.com
What Should We Expect From The Bitcoin Formation In The Near Future?

Lawsuit Against MicroStrategy. High Bearish Pressure On Bitcoin

InstaForex Analysis InstaForex Analysis 02.09.2022 11:00
Crypto Industry News: Karl Racine, the US Attorney General of the District of Columbia in the United States, announced that his office has sued MicroStrategy and its co-founder Michael Saylor on charges of tax evasion. Racine announced in a Twitter thread a lawsuit against MicroStrategy and its former CEO Michael Saylor, claiming that he "never paid any DC income taxes" and that the company "conspired" to help him avoid paying taxes. Saylor owes more than $ 25 million in taxes on income earned while in DC, according to the Attorney General's Office, but penalties from both the former CEO and MicroStrategy could be as high as $ 100 million. According to Racine, the allegations came after the District Council's District Council's False Claims Act amended to encourage whistleblowers to report residents of tax evasion. The Attorney General's Office has enforcement powers under the revised law and has said it has the power to levy "triple compensation" for three times the taxes owed - $ 75 million in the case of Saylor. Technical Market Outlook: The BTC/USD pair had tested the level of $19,546 and it looks like a Double Bottom price pattern of the H4 time frame chart. Currently, the market is consolidating in a narrow zone located between the levels of $20,586 - $19,521 and only a clear and sustained breakout below this level might extend the drop towards the next target for bears that is seen at the level of $18,940 (technical support from July 13th) and $18,640 (technical support from July 1st). The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice and the major move up or down might be triggered today after the NFP Payrolls data from the USA are published. Weekly Pivot Points: WR3 - $20,566 WR2 - $20,144 WR1 - $19,963 Weekly Pivot - $19,722 WS1 - $19,540 WS2 - $19,300 WS3 - $18,878 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291133
The Ethereum Has Located Just Above The Key Short-Term Technical Support

The Merge Plans To Support Only NFTs That Are Based On The Ethereum Blockchain

InstaForex Analysis InstaForex Analysis 02.09.2022 11:09
Crypto Industry News: OpenSea, the world's largest NFT market, after The Merge enters into force, plans to support only those NFTs that are based on the proof-of-stake version of the Ethereum blockchain. "First and foremost, we are solely committed to supporting the NFT in the updated PoS [Proof-of-Stake] chain"- said OpenSea in a series of tweets published at the end of August. This is important information because the platform is a tycoon when it comes to NFT trading. So far, Ethereum-related NFTs have been sold on it for around $ 31 billion, The Block reports. All of this sum - which eclipses the volume of NFT transactions linked to other blockchains - is for NFT trading, which is backed by the current version of Ethereum, which is based on Proof-of-Work (PoW). The aforementioned The Merge - the final stage of Ethereum's transition from PoW to PoS - means that Beacon Chain and its validators will become the new foundations of the ETH blockchain network. This will affect many different cryptocurrency projects that are already busy preparing for the switch. An example of the above would be the Ethermine mining pool. As of this writing, there are 222,657 active miners on Ethermine, totaling 261.1 terra hash per second (TH / s). After September 15, the pool will still support PoW mining, but only ethereum classic (ETC), ravencoin (RVN), ergo (ERGO) and beam (BEAM) will be affected. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains above the upper channel line. The local high was made at the level of $1,618, so the next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.   Relevance up to 08:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291135
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

The Uniswap Company Is Interested In Solving The Problems

Crypto.com Accelerate the... Crypto.com Accelerate the... 02.09.2022 11:19
 Compound launches Compound III, a more streamlined version of the protocol. Arbitrum set for a major upgrade on 31 August. Uniswap eyes NFT financialisation with talks of NFT lending protocols. Weekly DeFi Index This week’s price, volume, and volatility indices were negative at -11.84%, -11.68%, and -25.42%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Compound, a borrowing and lending protocol on Ethereum, launched a new version called Compound III. It’s a streamlined version of the protocol with an emphasis on security, capital efficiency, and user experience. The biggest change is that the collateral remains the borrowers’ property and nobody else can borrow or withdraw it. Additionally, borrowers won’t earn interest on their collateral, which could enable them to borrow more with less risk of liquidation. Ethereum layer-2 scaling solution Arbitrum is set for a major upgrade on 31 August. Referred to as the ‘Nitro’ upgrade, it alleges to increase transaction throughput, slash transaction fees, and simplify cross-chain communication between Arbitrum and Ethereum.  Decentralised exchange Uniswap engaged in talks with multiple NFT lending protocols to build NFT financialisation. According to a social post from Uniswap’s head of NFT product, the company is interested in solving both liquidity issues and the “information asymmetry” surrounding NFTs. DEX Protocols Metrics Sources: CoinGecko, DeFi Llama, Nomics, Crypto.com Research Lending Protocols Metrics *LDR (Loan to Deposit Ratio) = Total Borrowed / TVLSources: CoinGecko, DeFi Llama, Crypto.com Research Charts on Layer 2 Projects Overall, the L2 market continued the downtrend, dropping by -8.41% in the last week and the TVL of all L2 categories fell. Optimistic rollup projects dropped by -7.61% and zero-knowledge rollup projects decreased by -3.50%. Ethereum’s TVL fell by -4.69%. The TVL for all major optimistic rollup projects were negative last week, and Boba Network plunged the most at -16.50%. Similarly, almost all ZK rollup projects’ TVL declined except dYdX, of which its TVL kept stable and grew +0.21%. Loopring plummeted the most at -10.27%.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Facebook and Instagram Now Support NFTs From Digital Wallets.

Crypto.com Accelerate the... Crypto.com Accelerate the... 02.09.2022 11:31
Eminem and Snoop Dogg performed as BAYC characters. Meta announced that Facebook and Instagram users can post NFTs.Animoca Brands received US$100 million in funding from Temasek.  Key Takeaways Eminem and Snoop Dogg performed at the MTV Video Music Awards as Bored Ape Yacht Club NFT characters in the Otherside metaverse. The artists both bought BAYC NFTs earlier this year, with Eminem paying around US$450,000 for his. Meta announced that Facebook and Instagram now support NFTs from digital wallets. Digital collectibles minted on the Flow blockchain or from wallets supporting the Ethereum or Polygon blockchains can be posted on the social media platforms. Blockchain gaming giant Animoca Brands has received $100 million in funding from Singapore state-owned Temasek. Animoca has over 340 portfolio companies, including top metaverse games like The Sandbox and Decentraland. X2Y2 recorded a -63% decrease in sales and a +6% increase in transactions. Meanwhile, OpenSea‘s sales were positive at +30% and its transaction count also increased +38%. The total market cap for GameFi tokens now stands at $8.98 billion, down -7% from last week. Crypto.com NFT in the Spotlight Hoppler – Maff University is the most prestigious educational institution in the GN-z11 Galaxy. “Class of 3022” is a yearbook that showcases the most distinguished students on campus in their respective areas. Thed Holes has dropped a Haute Cyber Couture collection with “Raw Society“. The main goal is to represent a part of society as a building, where each member lives in their own bubble with their own dreams, ambitions, and dramas. NFT Highlights Ticketmaster taps the Flow blockchain to let event organisers issue NFTs tied to tickets Uniswap sets sights on unifying NFT lending liquidity Exclusive: World of Women reveals WoWverse Capacitors NFTs NFTs as a use case for Medical Records Creators of GoblinTown to launch NFT marketplace Formula One files trademarks related to NFTs and Crypto Has X2Y2 drastically changed an NFT policy? GameFi Highlights Axiecon gears up for the biggest celebration of Axie Infinity on the planet Gabriel Leydon makes comeback with $200M funding for new blockchain game company Limit Break Chainplay report reveals 3 in 4 investors join crypto because of GameFi Gala Games announces launch date for Spider Tanks Game publisher and developer Xterio raises $40M to create cross-platform Web3 franchises NFT Transaction Benchmark     The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $158,700 Minted Plumbing Miner Pier $73,680 Magic Eden DeGods $4,990,625 OpenSea Digi Daigaku Genesis $5,887,936 GameFi Top Gainers & Losers     Top Games Metrics     Daily Gamers by Blockchain
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Will September Be A Challenge For Cryptocurrencies Market?

InstaForex Analysis InstaForex Analysis 02.09.2022 14:26
The cryptocurrency market came under pressure on Thursday along with global financial markets as the US dollar index surged to its highest level since September 2002, at 109.96. As the dollar rose, few assets were retained: the S&P 500, DOW and NASDAQ were all in the red, down 1.03%, 0.45% and 1.81%, respectively. History shows that September can be challenging for the financial markets. As for when volatility will subside, it may continue for some time as bullish traders are still overwhelmed by bears. Further evidence that Bitcoin sentiment remains negative was provided by crypto analytics firm Santiment, which showed an increase in average BTC funding rates. According to the average BTC funding rate on Binance, BitMEX, DYDX and FTX, the reaction to Friday's drop was the most aggressive since May, as repoted by Santiment. Ethereum shorts are accumulating. One of the biggest stories in cryptocurrency right now is the upcoming Ethereum (ETH) merger, projected to happen on September 15. At a time when many expected a "buy the rumor, sell the news" type of event, it starts to look like the merger has already been booked, prompting investors to position themselves ahead of a potential price drop. Santiment did warn to go along with the expected Ether price pullback, highlighting the fact that price increases have historically been more common under such conditions. In general, it was a negative day for the crypto market. A quiet day in the altcoin market: Of the top 200 coins listed on CoinMarketCap, Decred (DCR), which added $11.7, was the best performer for the day, followed by an 11% gain in Balancer (BAL). The total market capitalization of cryptocurrencies currently stands at $967 billion, with a 39% Bitcoin dominance rate.     Relevance up to 09:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320663
Apecoin (APE) Makes Five Attempts at Breaking out From Descending Resistance Line | BeInCrypto

4 Cryptocurrencies To Keep A Watch On: Thor Coin (Thor), Deepmaze Finance (DPZ), Fantom (FTM), ApeCoin (APE)

Rebecca Duthie Rebecca Duthie 02.09.2022 14:55
Summary: A summary of Thor, DPZ, FTM, APE, Proof of work, proof of stake, proof-of-history DApps, NFTs. The Thor Coin (THOR) network A multichain DeFi mechanism called Thor (THOR) distributes rewards and refunds to token holders. By exposing token holders to various multichain DeFi protocols and giving them the chance to explore and discover yield-generating solutions, the project, which is a yield farming protocol, seeks to deliver awards and daily passive returns from blockchain nodes. Yield farming is the practice of lending cryptocurrencies to platforms in an effort to maximize profits. The platform also aims to make use of a state-of-the-art node-as-a-service facility that offers consumers the chance to own a blockchain node without fuss or risk in order to produce returns and passive income. The block of data on the protocol where transactional information is recorded is referred to as a "blockchain node." The project also seeks to concentrate on engaging with various DeFi projects, staking pools, NFTs, and a variety of other carefully selected initiatives. To profit from every market situation, keep an eye out for bull and bear market trends. The Deepmaze Finance network Built on Binance Smart Chain, DEEPMAZE:DPZ is an auto-liquidity DeFi token supported by crowded pools. It fixes the DeFi ecosystem's issue with the liquidity, value, and discretion trilemma. The smart contract for DEEPMAZE performs three essential tasks: The liquidity is locked into the liquidity pools via an automated liquidity provision process. The developers have no discretion due to the architecture of ownerless community tokens. By providing holders with free token flows, crowdsourcing pool offers a novel way to address the valuation conundrum. The concept of reflection-based passive staking served as the inspiration for DEEPMAZE. Although DEEPMAZE features an automatic liquidity mechanism (sell half and match), it also contains a crowded pool that is protected by contract, with users receiving payouts that are diminishing logarithmically. Users' transaction fees are thus reduced by half while maintaining the automatic liquidity and passive staking characteristics. The Fantom Network Using its unique consensus mechanism, Fantom is a directed acyclic graph (DAG) smart contract platform that offers developers decentralized financial (DeFi) services. Fantom, which claims to have decreased transaction times to under two seconds, intends to address issues with smart-contract platforms using its proprietary coin FTM. Fantom is a Layer-1 blockchain that makes use of an independent consensus layer called Lachesis as well as a consensus mechanism that was designed from scratch to enable DeFi and associated services based on smart contracts. Other layers, like as Opera, Fantom's EVM-compatible smart contract chain, are also secured using Lachesis. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.” One of Fantom's main advantages is its speedy transaction processing, which can handle thousands of transactions per second, settle them in one to two seconds, and only cost a few cents each transaction. Fantom offers greater scalability as a result, yet at a lesser price. An aBFT consensus engine called Lachesis employs the directed acyclic graph (DAG) algorithm. The network screens the participants, allowing only one third who are assigned due to incorrect or harmful behavior, without impairing network activities. Network data can be analyzed at various periods. The Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus technique used by Fantom ensures that the entire network operates efficiently while providing optimum security. The Apecoin Network APE Ecosystem uses ApeCoin, an ERC-20 governance and utility token, to enable and reward a decentralized community forming at the vanguard of web3. Owners of ApeCoin make decisions about how to use the ApeCoin DAO Ecosystem Fund using the decentralized governance structure that runs the ApeCoin DAO. The suggestions adopted by ApeCoin holders are managed by the APE Foundation. ApeCoin is an ERC-20 token launched on the Ethereum blockchain. As a result, it is secured by Ethereum’s proof-of-work (POW) consensus mechanism. The governance token for the APE Ecosystem is called ApeCoin. It enables token holders to take part in the ApeCoin DAO and provides its users with a decentralized, open, and shared money. Yuga Labs, the company behind the Bored Ape Yacht Club, donated a one-of-a-kind NFT to the APE Foundation. All rights and privileges to this NFT and the underlying artwork have been transferred by Yuga Labs to the APE Foundation. How this intellectual property is used is up to the individual ApeCoin DAO members. Sources: fxmag.com
An Investigation Against Terraform Labs In Singapore

Ethereum's Merge Is Almost Here. What Is Ethereum Name Service (ENS)?

Conotoxia Comments Conotoxia Comments 03.09.2022 23:08
The impending Merge (transition from POW to POS) of ethereum seems to be affecting ENS domain sales. Major crypto companies are not staying idle in the face of the chain transition and are becoming big stakeholders in the test "Beacon Chain". Ethereum Name Service (ENS), is a project that offers naming and recognition services for ETH wallets, in an operation similar to Internet domain naming, or DNS (domain name service). August became the third-best month in its annual history after ENS domains accounted for 2744 ETH or around $4.3 million in revenue.  According to ENS data for the past month, as many as 301,000 new .eth domain registrations were made and 34,000 new accounts were opened using at least one ENS name. The total of all .eth registrations now stands at 2.2 million names. The biggest convenience of the Ethereum Name Service is the ability to identify an ETH wallet by a short unique name in the .eth domain, instead of by an approximately 42-digit code. This simplifies token and NFTs transfers, as well as facilitates payments. In addition to these benefits, .eth domains, like .com, .net or .org internet domains, could be sold and may have their own unique NFTs.  The mentioned Merge involves ethereum moving from a proof-of-work blockchain to a proof-of-stake which, in a nutshell, means a different system of validating (confirming) transactions that are more energy efficient and cheaper, due to the use of economies of scale. ENS address registrations appear to be accelerating steadily. The record to date was set in July, when some 378,000 new names were registered. Although the role of domains in Merge itself is rather small, their increasing number may be a sign of the growing interest in ETH and the move to a cheaper and more efficient proof-of-stake (POS) infrastructure. The inevitable centralisation of DeFi? According to data from Dune Analytics and Nansen, crypto companies provide more than 66% of the staked ETH. This means that most companies such as Lido, Coinbase and Binance are likely to be responsible for a large proportion of transaction validation on the new ethereum system. Such entities, called validators, are supposed to be a kind of 'thread' of the new POS system. They will be responsible for storing data, processing transactions and adding more blocks to the chain. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $51,000. Holding tokens makes such entities large depositories across the blockchain. This news has raised discussion on social media regarding the centralisation of the new blockchain, because with so much validation of POS transfers from institutions, can we really talk about DeFi? It seems that the ETH developers are aware of this drawback, but in order to make ETH efficient, reduce costs and further develop the ecosystem, they have decided to move towards a proof-of-stake blockchain. On the Conotoxia MT5 platform, ETH is gaining around 0.5% today at 11:30 GMT+3, already drawing its sixth daily bull candle. The consolidation seems to have put the token's price above the 10 and 100-day moving averages. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: The Ethereum Name Service reports third-best month ever (conotoxia.com)
Craig Erlam And Jonny Hart Discuss Crypto Situation And The US Election Results

Bitcoin Miners Are Supporting Renewable Energy Sources

InstaForex Analysis InstaForex Analysis 05.09.2022 10:03
Crypto Industry News: Arcane Research says bitcoin mining will have a positive environmental impact. The company has just published a report on the subject saying mining can positively change the world's energy production. First, bitcoin miners can promote the use of renewable energy sources. In addition, there is the "reactivity" of miners, which will be based on the fact that they will "give" energy to the industry when the demand for it is high. However, this would require cooperation with the authorities. This is possible, as seen in Texas, where large BTC mines jointly and severally stopped mining cryptocurrencies in July to help protect the network during the heatwave. Such reactivity will be especially important in the years to come as the world is increasingly moving away from flexible fossil fuels to renewable energies. "Bitcoin miners can search for areas with excess wind and sun and build a data center there exactly the size needed to consume excess energy," the report further explains. Miners are not only supporting renewable energy sources, but also making oil drilling a cleaner and more efficient process. Oil wells often produce natural gas, which cannot always be economically used for consumption. As a result, oil producers are forced to burn gas without getting any economic utility from it and polluting the environment at the same time. However, if oil producers decided to use natural gas for mining, they could both benefit from it and reduce greenhouse gas emissions, the company adds. Example? Exxon - a large multinational oil and gas corporation - announced in March that it had mining plans. In addition, just as drilling for oil produces natural gas, mining bitcoins also produces heat as a by-product. This offers another opportunity to economically recycle resources. BTC miners can potentially "give up" heat to district heating networks. Moreover, if mines are powered by renewable sources, they can reduce the carbon footprint of heating - the world's largest source of CO2 emissions. "Reusing the heat of bitcoin mining is essentially about using the same energy twice," explained Arcane. Technical Market Outlook: After a whole week of trading inside the narrow range, the BTC/USD market might break to the downside soon - the bearish pressure is getting stronger as the bulls can not gather stronger momentum and break into the positive territory. The key short-term technical support is the zone lower line seen at $19,521 and any violation of this level would trigger another down wave towards the level of $18,940 (short-term technical support and target for bears). Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 09:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/291353
Cryptocurrency: Bitcoin Lost Almost 0.5%, ETH/USD Gained Ca. 6%

Cryptocurrency: Bitcoin Lost Almost 0.5%, ETH/USD Gained Ca. 6%

Alex Kuptsikevich Alex Kuptsikevich 05.09.2022 08:56
Market picture Bitcoin declined 0.4% over the past week, ending at around $19,900 without experiencing any significant movement during that time. For now, we can only say that the crypto market is wagering on the strengthening of the dollar, and to a markedly lesser extent than other markets. Ethereum added 5.9% to $1570, while other leading altcoins from the top ten showed mixed dynamics: from a decline of 1.3% (BNB) to a growth of 13% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 2.5% over the week to $976bn. The cryptocurrency Fear & Greed Index lost 8 points over the week to 20, returning to "extreme fear" status. Read next: ECB Will Continue To Hike Rates To Slow Inflation? | FXMAG.COM Bitcoin stood aloof from key market movements last week, moving on a short leash around $20K. Meanwhile, tectonic shifts were taking place in the markets as the dollar continued to renew multi-year highs and stock markets returned to a sell-off. Cardano rose sharply at the end of the week on the back of the news. IOHK, the company behind the Cardano project, has set a date for Vasil's update - the largest and most important hardfork in the project's history will take place on September 22. News background According to analytics service TipRanks, HODLers are refusing to sell the cryptocurrency. 62% of wallets hold bitcoins for more than one year. 32% of addresses control BTC for 1 to 12 months, and only 6% of investors hold cryptocurrency for less than 30 days. At the same time, both profitable and unprofitable addresses have a 48% share. Bitcoin miners' revenues in August amounted to $657 million and increased for the first time since March. The growth in revenues was helped by the growth of the first cryptocurrency's network hash rate. Despite the crisis, investor confidence in cryptocurrencies increased slightly over the quarter. 65% of retail investors and 70% of institutional investors trust digital assets, according to a survey by cryptocurrency exchange Bitstamp. Read next: Rising Interest Rates. How High Can They Rise?| FXMAG.COM Cryptocurrencies are helped by the aura that, in the long term, they are more promising than stocks and other risky assets, as they are at an early stage of adoption and still undervalued by the market. Ethereum co-founder Vitalik Buterin called the current bear cycle expected. In his view, Terra's collapse and market decline are a boon for the crypto industry, as they help identify problems and unsustainable business models well. With the rising capitalisation of the crypto market, the DeFi sector could pose long-term risks to financial stability, according to the US Federal Reserve.
Bitcoin Is Showing The Potential For The Further Downside Rotation

The Number Of wallets With a High BTC Balance Continues To Grow

8 eightcap 8 eightcap 05.09.2022 12:46
After breaking through the key support level at $20.8k, the price of Bitcoin is consolidating around $20k. Over the past weekend, uncertain Doji candles formed on the cryptocurrency daily chart, which clearly underlines the low trading volumes. The price of Bitcoin has been in the consolidation phase for more than two weeks, and a certain category of investors is successfully collecting liquidity from different price ranges. We can say that the BTC/USD quotes have found a strong bottom near the $19.5k mark. Therefore, the exit from the consolidation range should occur in an upward direction. In addition to confidently defending an important price level, fundamentally positive news has appeared on the market, which can become a catalyst for the growth of Bitcoin. The US unemployment rate rose to 3.7% against the forecast of 3.5%. The labor market is one of the main factors confirming the recession of the American economy. Consequently, the Fed may revise monetary policy or make local easing to stabilize the situation on the labor market. In addition, mining difficulty increased by 10% in August, which indirectly confirms that the energy crisis has been overcome. Santiment also confirms the persistence of buying sentiment in the market. The number of wallets with a balance of 100–10,000 BTC continues to grow. Given this, it is likely that Bitcoin is expecting a local upward spurt. However, the technical metrics on the daily chart continue to point to a lack of buying interest. The stochastic oscillator has been in the oversold zone since August 18, which indicates the absence of bullish impulses and buying volumes. As of September 5, the metric has formed another bearish crossover. The RSI metric is also moving in a downward direction. Given the deplorable state of technical metrics, the question arises: why is the price not falling, but consolidating? The main problem lies in the trading activity of buyers. The indicator is at the very bottom, which does not allow the price to reach local highs. At the same time, sales volumes are also at a low level, which is why the bears are not able to break through key support areas without the influence of fundamental factors. In other words, at the current stage of the market any significant price movement of Bitcoin is tied to external factors. It is also important to consider the Monday factor, when the main markets are just warming up before the start of the trading week. Given this, we can expect an attempt by Bitcoin to climb above $20k by the end of today's trading day. However, there are problems here as well. The bitcoin headache of miner capitulation continues. The industry has adapted to new realities and energy prices, but low market liquidity is forcing them to sell off their stocks. Miners have sold over 3,000 BTC over the past week, which will negatively impact Bitcoin's short-term bullish targets. In addition, there are warns that the market is pricing in a 70% chance of a 70 bps interest rate hike in September. There are plenty of restraining factors for the growth of Bitcoin, therefore it is not worth hoping for a successful implementation of the bullish impulse. However, the situation may change next week. On September 13, statistics on inflation will be published, and the continuation of the downward trend of the CPI may be a signal for the activation of buyers. Until then, Bitcoin has no significant prerequisites for growth. Most likely, buyers will continue to actively absorb the volumes of BTC that miners and short-term investors send to the market. Among the likely targets that BTC/USD could reach as part of the upward movement this week is the $20.8k level. However, for this, the price needs to consolidate above $20k in the next day or two. This idea will become irrelevant if the $19.5k level is successfully broken.       Relevance up to 10:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320799
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

FIFA Is Preparing To Open A New NFT Token Platform. The ETH/USD Pair Move To The Upside

InstaForex Analysis InstaForex Analysis 05.09.2022 11:06
Crypto Industry News: The International Football Federation (FIFA) is gearing up to open its new NFT token platform later this month. To start with, FIFA + Collect will release a number of initial token collections and reveal details of its upcoming exclusive and limited collections, the organization said in a published press release. The digital collections will represent unforgettable moments from soccer matches and feature iconic art and photos from the FIFA World Cup and the FIFA Women's World Cup. "This exciting announcement makes FIFA collectibles available to every soccer fan, demonstrating the possibility of owning part of the FIFA World Cup. [...] Fandom is changing and soccer fans around the world are engaging in new and exciting ways ... Like sports memorabilia and stickers, this is an opportunity available for fans around the world to connect with their favorite players, moments and more "commented Romy Gai, Chief Business Officer of FIFA. FIFA + Collect will be available on FIFA +, the federation's digital platform that provides access to live soccer matches from around the world, interactive games, news, tournament information and other original content. FIFA + Collect will initially be available in three languages - English, French and Spanish - with more coming soon, as well as on web and mobile devices. Technical Market Outlook: The ETH/USD pair had extended its move to the upside, was up 15,76% at one point during the weekend, however, the bulls were having problems with the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, but not that strong and is hovers very close to the level of fifty. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 09:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291355
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Meitu Reported An Loss, In CME Bitcoin futures Dropped To The Lowest Level

Crypto.com Accelerate the... Crypto.com Accelerate the... 05.09.2022 13:58
ETH perpetual futures funding rates at record lows. BTC options skews spiking as puts are being bid up. BTC hovering around short-term RSI oversold levels. Chart of the Week: Perps Funding Rates at New Lows There has been a flurry of activity in ETH derivatives markets as the expected mid-September date of The Merge closes in. Perpetual futures funding rates are printing at record negative levels, potentially implying caution from traders as they look to hedge downside risks. Previous issues of Market Pulse highlighted record open interest in options and record negative futures basis.  Fund Flow Tracker Aggregated exchange balance of ETH fell sharply to new lows during the past week, while BTC’s saw a bounce. Derivatives Pulse The BTC put-call ratio and skews (puts-minus calls) rose over the past week, implying increased cautious sentiment. Implied vols for both BTC and ETH were mostly flat during the past week. 1-week implied vol currently stands at 60.3% (vs. 65.3% a week ago) and 89.1% (vs. 98.9% a week ago) for BTC and ETH, respectively. Asset managers’ net-long position in CME Bitcoin futures dropped to the lowest level since February 2022, and leveraged traders’ net-short position continues to reduce.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking The drop in BTC price has it hovering around short-term oversold levels based on the 14-day Relative Strength Indicator (RSI). Price Movements News Highlights Chicago Mercantile Exchange Group (CME Group), the world’s leading derivatives marketplace, has launched Euro-denominated Bitcoin and Ether futures. Meitu reported an impairment loss of over US$43M on its crypto holdings. Credit Suisse disclosed that it held US$31M in “digital assets” for clients as at the end of Q2 2022. Stacked, a Web3 streaming platform, has completed a US$12.9M Series-A funding round led by Pantera Capital. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
El Salvador Continues To Bet Big On Bitcoin. Bored Apes Has Been Featured On A Big Television Event

El Salvador Continues To Bet Big On Bitcoin. Bored Apes Has Been Featured On A Big Television Event

Crypto.com Accelerate the... Crypto.com Accelerate the... 05.09.2022 14:14
BAYC M&Ms, Reddit co-founder, and Insta NFTs Temasek is set to lead a US$100 million funding round for Animoca Brands, Asia’s biggest blockchain investor. This adds to Animoca’s US$434 million already raised this year, as it seeks to go public and challenge big tech firms while helping to create Web3 in the process. Read on for this week’s top news in crypto, and brush up your trading skills, with our featured article ‘What are Candlesticks?’ Markets Spotlight Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price. News Snaps California passes bill for regulating and licensing crypto firms. Cointelegraph reports that the California State Assembly passed a bill that will require crypto companies and digital asset exchanges to own an operating license given by the state of California. The bill would be implemented in January 2025. Helium looking to move to Solana. Popular peer-to-peer blockchain Helium is set to take a vote on whether or not they should move to Solana. Helium which is designed for the Internet of Things(IoT) gives incentives to users who run nodes with Helium’s hardware. Visit Blockworks for more.    Bored Ape Yacht Club makes MTV debut. At the latest MTV Video Music Awards, Snoop Dogg and Eminem showed off their Bored Apes in a music video for their new song ‘From the D 2 the LBC.’ This marks the first time Bored Apes has been featured on a big television event. For the full story, see CoinDesk. Show off your NFTs on Facebook and Instagram. Cointelegraph reports that Meta has released an update that allows Facebook and Instagram users to post NFTs from their digital wallets. Users can now connect digital wallets to both apps. Firm owned by Reddit co-founder launches US$177M crypto fund. Alex Ohanian, co-founder of Reddit, and his venture capital firm Seven Seven Six plan to create a fund focusing on crypto, called Kryptós.The partners believe that now is potentially a good opportunity to invest in strong founders at a discount. Check out Blockworks for more. What’s Ahead AxieCon Barcelona. From September 7-10, Axie Infinity will host the AxieCon in Barcelona, bringing together the brightest dreamers, builders, and players of Axie Infinity. AxieCon will cover all aspects of Axie Infinity, such as esports, game design, governance, and collecting. NFT Spotlight Relive streetball legend and blacktop champion The Professor’s ankle-breaking NFT collection, which dropped a year ago this month, featuring six of his signature crossover moves on the likes of Donald Trump, Elon Musk, Kanye West, and The Rock. I heard people buzz about it for a few years and I felt a little late to the party, but now I’m realising it’s still new to a lot of people — so I’m excited about the timing. The Professor, on his interest in cryptocurrency Check out The Professor’s NFT collection of signature moves. Product Picks SpookySwap and SushiSwap Integrations The DeFi Wallet’s built-in token swap feature now supports the seven largest chains by total value locked (TVL). With the latest integrations, you can now easily swap over 50 tokens on the Fantom and Arbitrum blockchains directly via the DeFi Wallet. Save NFTs to Your Camera Roll  You can now save NFTs to your device’s camera roll on DeFi Wallet. Additionally, easily view NFTs on Etherscan, Cronoscan, and the Crypto.org Explorer, depending on the blockchain that the collectibles are minted on. DeFi Desktop Wallet Supports Ethereum Network and ATOM You can now store and transfer any ERC20 asset and add any EVM network connection to the DeFi Desktop Wallet, giving you quick access to the dApps built on those blockchains. We’ve also added support for ATOM and a bridge from Cosmos to Cronos so you can easily access more dApps on Cronos chain. Learn more. Crypto Level Up What is Web3? Web3 is more than just a buzzword. To understand the changes it brings, let’s look at how the web started and has evolved over the years. Web1. In the early days of the Internet, the web experience was passive, static, and one way, like reading a brochure or catalogue. Remember Netscape web browser? Web2. The web we know today. More social and interactive, it has changed the way we interact online. But Web2 has also given too much power to just a handful of big tech companies, leading to questionable business practices. Web3. Still a work in progress, Web3 aims to take power away from big centralised organisations and put it into your hands, the user. The vision is for everyone to own their part in the new decentralised web.Check this detailed timeline to learn more about Web3. Crypto IRL ‘Catch me if you can!’ said Mr Crabsy while doing some mild weightlifting with Obsidian Crypto.com Visa Card, proudly shared by our friend @pmbrsantos. Featured Merchant Julien Martin, founder of Cold Beach, tells us with burning passion what the upsides of crypto are for small-business owners. Your business is in handcrafted scented candles — what is your connection to the more abstract world of digital currencies? The connection is a rather personal one. I have personally been involved in crypto since 2017 — it started as an interesting take on the future of currency and became a legitimate alternative. In 2017, I made my first purchase using Bitcoin. However, back then, cryptocurrency was still in its infancy, and it was a lengthy process.  I knew better solutions were coming, and they did — Crypto.com Pay. Paying with crypto is now a tap away with a QR code scan on any merchant that accepts it. This is what brings me to using digital currencies on a commercial level. As a small-business owner, I do all the bookkeeping myself, and it’s no secret that it’s a daunting task when using fiat.  I’m stretched thin between making candles, conducting marketing, onboarding new retailers, and working full-time in an unrelated field. Crypto.com Pay’s painless onboarding, seamless integration, and simplified currency settlement are what I needed. Let me tell you: If I can do my bookkeeping while accepting crypto, anyone can. We are intrigued — what are wax melts? Wax melts are almost materially the same as candles: wax, fragrance, colour, labelling, and container. The difference, however, is that there is no wick. The melts themselves are usually contained in a clamshell containing six wax cubes. They are a great alternative to candles, as they are flameless and placed on a plate heated by electricity. They require less supervision than a lighted candle and are much cheaper because candle jars/vessels usually cost more than all the other materials combined.  What opportunities do you see in crypto for small businesses? Crypto has always been a headache for bookkeeping purposes: exchanging, settlement, receiving, and sending. It all requires a paper trail. This is especially difficult when you add the current legislative nuance and uncertainty. With Crypto.com Pay, I can keep that out of my mind and get paid in TrueCAD. The opportunities we see in crypto are endless.  Still, I’ll stick with what’s most important as a business owner: getting paid reliably, with no downtime. Cryptocurrency doesn’t experience downtime. Websites are no longer just hosted in one place. You can use the best payment processors in the world and still experience downtime, which costs you money, sales, and opportunity. Yes, some protocols are in their infancy and can experience downtime, but that’s fine — use another one. There is a plethora of high-quality chains that are battle-tested and reliable.   What’s the most exciting thing you have paid for in crypto? In 2017, I used Bitcoin to buy video games at a reduced price. Since then, I have made small purchases, such as a Dyson cordless vacuum, and occasionally used crypto to pay for things such as groceries and other essentials. In the future, I hope to use it for a down payment sometime in the next five years. Decoder Bear Market — A bear market represents a period in which the average prices of assets are on a prolonged decline. TradFi uses the term ‘bear market’ to define a market that drops by 20% or more. In other words, prices are low and projected to continue dropping for an extended period of time.  During a bear market, the economy is slow, with low employment rates and a pessimistic outlook. These conditions often arise from geopolitical crises, natural disasters, political tensions, or poor economic policies.  A bear market is also known as the markdown phase within a crypto market cycle. Often, unfavourable news on the crypto industry fuels the fire. This negative feedback loop causes many users to hold off on buying due to the belief that prices will continue to drop lower in the coming months. This Week in Crypto History El Salvador continues to bet big on Bitcoin. This time last year, El Salvador showed its continued conviction in Bitcoin by approving a US$150M BTC buy. This came in the same year that El Salvador recognised Bitcoin as legal tender — a huge milestone for Bitcoin on its journey to mass adoption. That’s it for this week’s Snapshot. Want more? Visit our Instagram for quick crypto lessons that help you navigate the space.
Binance Academy: Immutable X Token (IMX) - What Is It? IMX Explained. How To Buy IMX?

Altcoins: Immutable X (IMX) - What Is It? - A Deeper Look Into the Immutable X (IMX) Platform

Rebecca Duthie Rebecca Duthie 05.09.2022 18:10
Summary: What is The Immutable X Platform and how does it work? Advantages of the Immutable X exchange. Immutable X’s present and future price positions. The Immutable X Platform As the first layer-two scaling option for NFTs on Ethereum, Immutable X places itself in this space. Immutable X claims that its blockchain overcomes Ethereum's drawbacks, including its low scalability, subpar user experience, lack of liquidity, and delayed development experience. Instead, users get to experience $0 gas costs for minting and trading NFTs, instant trading, and vast scalability without compromising asset or user security. Immutable X uses STARK zk-rollups, a technology that Vitalik Buterin believes Ethereum is "all-in" on, to do that. Users will be able to produce and distribute assets like ERC-20 and ERC-721 tokens on a vast scale as a result of this technology. Immutable X enables Gods Unchained to deploy a novel meta-system that was previously impractical, according to Chris Clay, the game director of the project that is currently based on it. In this way, Immutable X hopes to give users and developers alike a top-notch experience. One advantage of Immutable X is that it is one of the first layer-two systems to use zk-rollups and to concentrate just on NFTs. The project is at the forefront of advancement in the Ethereum ecosystem as zk-rollups gain popularity as a scaling option. If Immutable X can accomplish its projected transaction speed of more than 9,000 tps, it stands a decent possibility of becoming the standard "NFT blockchain" in the future. The API abstraction layer is a key element in delivering on this promise. Every NFT-related interaction, including minting, trading, and transferring, is now a straightforward API call on Immutable X because of REST APIs. The company believes that this will play a significant role in luring new competitors like well-known gaming and content providers to the market. Users won't need to switch networks while linking their wallets, as well. Additionally, the protocol offers a middle layer known as the "Link," which enables an NFT-specific wallet experience and permits Immutable X to support a third-party marketplace environment without running the risk of security breaches. Immutable X enables protocol liquidity through its shared global order book, allowing NFT marketplaces to be constructed without a backend. As a result, the native marketplace of the protocol can coexist with third-party marketplace solutions. With this option, the protocol also hopes to minimize entry barriers for smaller developers and content creators. Advantages of the Immutable X Platform ZK-Rollup Scaling Engine, Immutable X, which focuses only on NFT projects, is one of the first platforms to leverage ZK-rollup technology. This platform mixes exchanges particular to NFTs with proof logic. Rollups give users a good experience and a lot of scalability while yet maintaining a high level of security. API Abstraction Layer, The API abstraction layer, which wraps around the scaling engine and enables interaction with smart contracts on the part of developers, is another element of Immutable X. This feature facilitates faster project launches, assisting new entrants in establishing themselves. Layer Two Scaling Solution, Every developer that uses Immutable X benefits from lightning-fast speeds, almost-zero gas costs, and the security that Ethereum offers as a Layer 2 scaling solution. NFT-Enabled Wallets, Immutable X doesn't demand consumers to switch between different NFT marketplaces because it supports all Ethereum wallet types. Additionally, it offers an intermediary layer type called IMX Link that enables users to take use of a wallet experience that is solely focused on NFT projects. Immutable X also supports third-party NFT marketplaces without posing any security problems. Platform SDKs Shared Liquidity and Order Book Zero Gas Fees Staking Decentralized Governance Present and future prices of The Immutable X network (IMX) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, IMX does fall under this category. According to some analysts, the future price of The Immutable X network (IMX) could reach up to $3.60 by 2025 and could see a price of more than $23.56 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. IMX Price Chart Sources: finance.yahoo.com, coinmarketcap.com, learn.bybit.com, technewsleader.com
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Bank Of Russia Has Admitted That The Use Of Cryptocurrencies Is Inevitable

InstaForex Analysis InstaForex Analysis 06.09.2022 09:17
Crypto Industry News: According to media reports, the Bank of Russia has admitted that the use of cryptocurrencies to clear cross-border payments is inevitable. The institution cites the current geopolitical conditions as a reason for such a decision. The Russian central bank is once again considering changing its approach to regulating cryptocurrencies. Now agreed with the finance ministry to legalize digital assets for cross-border payments, local news agency TASS said on Monday. Deputy Minister of Finance - Alexei Moiseev - said that the Bank of Russia and the Ministry of Finance are working together on a law recognizing digital assets in cross-border trade as legal tender. Moiseev highlighted the crucial importance of enabling local cryptocurrency services in Russia. He drew attention to the fact that many Russians use foreign platforms to open a portfolio for digital assets. "It is necessary to do this in Russia, with the involvement of entities supervised by the central bank, which are obliged to comply with anti-money laundering requirements and the KYC principle," the official said. Russian lawmakers have repeatedly opposed the idea of using cryptocurrencies as a payment method. In 2020, Russia passed the important Digital Financial Assets Act which officially prohibited the use of digital coins such as bitcoin (BTC) for payment purposes. The Bank of Russia has been quite skeptical about the cryptocurrency payment proposal from the start. The institution, through its stubbornness, wanted to protect the Russian ruble as the only legal tender in the country. Interestingly, the idea of introducing this type of payment in domestic trade appeared in Russia already at the end of 2021. Then the President of Russia, Vladimir Putin, announced that it was "too early" to use cryptocurrencies to trade energy resources such as oil and gas . Technical Market Outlook: The BTC/USD pair keeps trading inside the narrow range as the volatility dries up and the market continues the whipsaw movement between the levels of $19,521 - $20,586. The key short-term technical support is the zone lower line seen at $19,521 and any violation of this level would trigger another down wave towards the level of $18,940 (short-term technical support and target for bears). The momentum remains neutral with occasional spikes into the positive and negative zones. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291528
The Ethereum Has Located Just Above The Key Short-Term Technical Support

The ETH/USD Pair Move To The Upside. The Faster Implementation Date Of Vasil Hard Fork

InstaForex Analysis InstaForex Analysis 06.09.2022 09:21
Crypto Industry News: The organization that builds the Cardano blockchain (ADA) Input Output Global has confirmed the date of the long-awaited Vasil hard fork. It will be carried out on September 22, which is roughly a week after Ethereum Merge. Cardano's price response looks quite lethargic despite the positive news, which perfectly illustrates the terrible sentiment on the cryptocurrency market. The quick deadline of the fork is all the more surprising because in the past developers reported postponing the event due to a significant amount of bugs and ambiguities during testing. At the same time, Cardano developers with Charles Hoskinson are rather meticulous, so the faster implementation date is rather a glove to Ethereum, because according to the developers it is Vasil's hard fork that is the most significant update of Cardano in history, which will ultimately increase network bandwidth and ensure lower transaction costs thanks to which it will increase the competitiveness against the recently popular Bitgert. Technical Market Outlook: The ETH/USD pair had extended its move to the upside again. The bulls had managed to rally 17.62% so far and are currently testing the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive and very strong, however the overbought market conditions can be seen on the H4 time frame chart. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.           Relevance up to 08:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291532
Altcoins: Smooth Love Potion (SLP) - What Is It? - A Deeper Look Into the Smooth Love Potion (SLP) Platform

Altcoins: Smooth Love Potion (SLP) - What Is It? - A Deeper Look Into the Smooth Love Potion (SLP) Platform

Rebecca Duthie Rebecca Duthie 06.09.2022 10:49
Summary: What is The Smooth Love Potion Platform and how does it work? Uses of the Smooth Love Potionexchange. Smooth Love Potion’s present and future price positions. The Smooth Love Potion Platform By taking part in the Axie Infinity game, players can acquire Smooth Love Potion (SLP) tokens. Experience points are replaced by this digital asset. SLP are ERC-20 tokens that may be used to create new Axies, or virtual pets. Beginning at 100 SLP, the cost of breeding rises steadily to 200 SLP for the second breed, 300 SLP for the third, 500 SLP for the fourth, 800 SLP for the fifth, and 1,300 SLP for the sixth. The seventh breed of Axies costs 2,100 SLP and can only be produced a maximum of seven times. This cap is in place to guard against market hyperinflation. Gaining SLP in the game can take some time, and a player could need to triumph in 15 competitions to amass enough tokens to perform their first breed. Gamers can get a jump start by buying SLP on the open market. It's not very common for in-game money to be available on exchanges like SLP. It resembles Nintendo's decision to assign a monetary value to the coins utilized in Super Mario in certain ways. Axies, according to Nguyen (Founder of Axie Infinity), differ from other non-fungible tokens because they require nurturing if they are to have any chance of maturing. SLP is particularly distinctive in that it is one of the select few in-game tokens that Binance has listed in its Innovation Zone. For assets "that are anticipated to have higher volatility and offer a larger risk than other tokens," the exchange has set aside this trading category. The current market capitalisation for the Smooth Love Potion (SLP) is $171,357,209. There is a total supply of 43,313,391,582 tokens, all of which are currently in circulation. Uses of Smooth Love Potion (SLP) Axies trading and purchases. Axies, the adorable little creatures that you may gather and teach in Axie Infinity, are the main use case for SLP. Each Axie has distinct characteristics and abilities that make it valuable for both playing and collecting games. Both ETH and SLP can be used to purchase Axies, albeit SLP is frequently far more expensive. Minting. The Mystic class of Axies and other new Axie game goods are manufactured using SLP. A fraction of the overall supply of SLP is burned each time a new item is created, lowering the supply and raising the value of each token that is still in circulation. Trading on independent markets. On decentralized exchanges, you can trade SLP in addition to buying and selling Axies (DEXes). This enables you to make predictions about the token's price changes without needing to use a centralized exchange. SLP is compatible with all significant DEXes, including Uniswap, Kyber Network, and 0x Protocol, as an ERC20 token. Salary and tips. The usage of SLP for payments and tips is another example. The token can be used to tip someone for their labor or to pay for products and services. You could utilize ETH or any other cryptocurrency in a manner similar to this. But in the long run, SLP might be more valuable than other cryptocurrencies because of its limited supply. If you want to maintain your worth, this makes it a suitable option for payments and tips. Present and future prices of The Immutable X network (IMX) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Smooth Love Potion (SLP) does fall under this category. According to some analysts, the future price of The Smooth Love Potion network (SLP) could reach up to $0.0092 by 2025 and could see a price of more than $0.023 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. SLP Price Chart Sources: finance.yahoo.com, coinmarketcap.com, coinspeaker.com, capitalcoin.com
Ethereum Could Drop Deeper As The Bias Remains Bearish

The Ethereum Crypto Is Currently Testing The Fibonacci

InstaForex Analysis InstaForex Analysis 06.09.2022 13:33
Technical outlook: Ethereum climbed through the $1,675 high during the early trading hours on Tuesday as was projected earlier. The crypto is seen to be trading close to $1,665 at this point in writing and is expected to push through $1,745 and up to $1,800 in the near term. As projected on the 4H chart here, the resistance zone is seen through the $1,800-05 area. Ethereum has already carved a meaningful downswing between $2,031 and $1,423 since August 14. The above drop is being worked upon and might retrace up to the Fibonacci 0.618 levels seen at about the $1,800 mark. Immediate price resistance is seen at $1,722 and a push higher will test $1,750 and above. The bears might be poised to come back in control thereafter. Ethereum is currently working to carve a counter-trend rally since printing lows at $1,423. The crypto is currently testing the Fibonacci 0.382 retracement of the above downswing and might correct lower. ETH is expected to resume towards $1,800 thereafter. Keep a watch at around $1,540 for intraday support. Trading plan: Potential rally through $1,800 against $1,400 Good luck!     Relevance up to 12:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291596
Ethereum Prices Should Hold Above Interim Support To Keep The Bullish Structure Intact

The Situation Around ETH/USD Is Becoming More And More Bullish

InstaForex Analysis InstaForex Analysis 06.09.2022 14:38
The cryptocurrency market is approaching a controversial period—autumn. On the one hand, the market has cheered up due to the upcoming Merge update and the likely easing of monetary policy due to the US congressional elections in November. At the same time, Bitcoin has historically had a bad September. The probability of maintaining this trend increases significantly, given the high probability of a 75 basis point rate hike. Despite all the inconsistency of the situation, Bitcoin and Ethereum still have chances to spend September on a bullish note. Bitcoin remains within the narrow range of fluctuations of $19k–$20k. The area formed after the breakdown of the key support level at $20.8k. Bearish pressure forced the cryptocurrency to move to the consolidation stage, but the process is moving very slowly. Glassnode experts note that BTC network activity is at a local low. Given the volatile nature of the upcoming economic events, the probability of an increase in trading volumes increases significantly. The current lull is also fundamental. Markets are pricing in a 70% chance of a 75 basis point rate hike in September, according to BBG analysts. On Thursday, Fed Chairman Jerome Powell will speak at the Cato Institute conference. Given the market reaction to the official's previous speech, there is every reason to believe that Powell will give the market clues about the Fed's next steps. Given the pessimistic expectations of the market, hints of a rate hike within 50 basis points could have a positive impact on the short-term prospects for the cryptocurrency market. The ECB meeting will be the second major event on Thursday. The meeting of the Bank will consider the issue of the level of the key interest rate and the interest rate on the deposit line. Most experts are inclined to increase the indicator by 100 and 50 basis points, respectively. For the cryptocurrency market, this will be a negative signal, as it will untie the hands of the Fed and allow you not to look back at the position of the euro against the US dollar. For the most part, Thursday will show which direction the stock and crypto markets will move in the coming weeks. Technically, Bitcoin continues to trade sideways for the tenth day in a row. Trading volumes remain low, which does not allow one of the parties to take the initiative. Technical indicators continue to move sideways without the presence of impulse movements in any of the directions. At the same time, the stochastic oscillator once again tries to enter the green zone, forming a bullish crossover. However, given the trading volumes, this attempt will not be successful. With regard to BTC/USD, the bearish idea remains relevant with a gradual breakdown of the $19k–$19.5k support zone, after which the asset may retest the local bottom. As of September 6, Bitcoin does not have the potential to be bullish and consolidate above $20.5k. The long-awaited transition of Ethereum to the Proof-of-Stake algorithm begins today. Ethereum's bullish potential could increase significantly if the cryptocurrency manages to successfully complete the merger of networks as part of the first stage of the Merge. Against the backdrop of the process that has started, investor interest in ETH is starting to grow again. The cryptocurrency has successfully broken through the $1,600 level and continues its upward movement. Given the nervousness surrounding Ethereum's transition to the new algorithm, the importance of today's merger phase cannot be underestimated. If everything goes according to the planned scenario, then we can expect the continuation of the bullish movement to the $1,800–$2,000 range. Ether's technical metrics support the thesis that the recent drop in Ether was a healing corrective move. As of September 6, the bullish mood of ETH investors is again showing an upward trend. The Relative Strength Index crossed 40 and continues to move upward, indicating growing buying power. The stochastic oscillator indicates a high level of bullish sentiment and a fast implementation of bullish patterns. The situation around ETH/USD is becoming more and more bullish, and among the immediate targets of the asset, it is worth highlighting the range of $1,650–$1,700. If this area is broken, the price will go to the final resistance line for the last six months at $1,800–$2,000. These are the short-term goals of Ethereum with a favorable development of the situation. In the long term, the target of $2,800 remains relevant.   Relevance up to 10:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320933
Ethereum: The Merge Is Almost Here, But Some Dream About Proof-Of-Work

Ethereum: The Merge Is Almost Here, But Some Dream About Proof-Of-Work

Kucoin Blog Kucoin Blog 06.09.2022 15:48
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart   The past week has brought the crypto market some stabilization, with a couple of altcoins managing to break out and gain over 10%, following Ethereum. The overall cryptocurrency market volume in the past 24 hours came up to $50.68 billion - close to $15 billion less than the previous week. The overall crypto market cap fell below the $1 trillion mark, now totaling $975.25 billion. This ended up being an increase of about $23 billion compared to the previous week.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's drop below the $20,000 mark provided a quick shock to the market, causing more people to believe that another leg down is up ahead. BTC’s dominance is solidifying near the 40% mark, now standing at 37.54%. Numerous cryptocurrencies managed to outperform Bitcoin in the past week, with several recording double-digit gains. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $19,735.97, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to 1,573.85, up 10.23% in the last week.   The top performers from the previous week were Cosmos (ATOM), Lido DAO (LDO), and Ravencoin (RVN). ATOM has increased by 19.61%, while LDO gained 17.25% in the past seven days. Finally, RVN gained 14.55%.     Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, Helium (HNT), Huobi Token (HT), and eCash (XEC) were the worst performers of the week. HNT is down 35.54% to $3.93; HT is down 8.43% in the last seven days; XEC is down 7.89%.   Top Altcoin Gainers and Losers Top Altcoin Gainers: Cosmos (ATOM) ➠ 19.61% Lido DAO (LDO) ➠ 17.25% Ravencoin (RVN) ➠ 14.55% Top Altcoin Losers: Helium (HNT) ➠ 35.54% Huobi Token (HT) ➠ 8.43% eCash (XEC) ➠ 7.89% News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum Merge Coming Up, People Hoping for the Best Ethereum merge date is slowly coming up, with many talking about the potential Ethereum PoW fork. A faction of Ether (ETH) miners will seemingly be creating a PoW fork of the network so that they can still keep mining.   While some support the decision, the vast majority call this event an “ETH PoW airdrop,” meaning they intend to cash out as soon as they receive the tokens.   Both those that want to hold or get the ETH PoW will need to hold ETH at exchanges that support the forks or decentralized wallets. That way, they will be absolutely certain they will be getting the forked coins. Of course, those that want to sell it as soon as possible will be better off holding their Ether on exchanges for quicker access to funds.   Cardano (ADA) Inching Closer to its Vasil Hard Fork Input Output Hong Kong (IOHK), the blockchain company in charge of development for the Cardano network, stated that the Vasil hard fork is “ever closer.” IOHK shared its latest Vasil hard fork status, and posted updates on its three critical mass indicators, which determine the date of the upgrade.   The company indicated that they are looking for 75% of mainnet blocks produced by nodes running the 1.35.3 version, around 25 exchanges upgraded, as well as the top ten key mainnet decentralized applications (DApps) also upgrading to the new version.   When it comes to the current upgrade status, we are looking at around 50% of the transition finalized, with 50% to go until the Vasil hard fork goes live.   Helium Sinks 35% Following Proposed Move to Solana Helium is under a lot of pressure from the public, as the core developers of the crypto-powered wireless network want to move from its own blockchain to the Solana ecosystem. However, the news is not very well accepted by its supporters, at least if we judge by the price of its HNT token.   Helium’s native HNT cryptocurrency has instantly fallen about 15% since the Solana migration governance proposal was announced on Sep 30, dropping to a price of $4.75 per token. The price then tanked even further, currently sitting at $3.93 per token.   Bank of Russia Legalizing Crypto? The Bank of Russia, the country’s central bank, has allegedly admitted that cross-border crypto payments are certainly the future, especially in the current geopolitical conditions.   The Russian central bank has seemingly been rethinking the approach to regulating cryptocurrencies and agreed with the finance ministry of Russia to legalize crypto for cross-border payments, according to the local news agency TASS report.   While outlining the importance of enabling local crypto services in Russia, they didn’t specify a date of legitimization of the cross-border payments.   The Fear & Greed Index at 23, Market Sentiment Stabilizing The fear and greed index has stabilized near the previous week’s levels after a huge drop from two weeks ago, when the number that represents crypto sentiment dropped from 45 to 24. The indicator now indicates “extreme fear” with a mark of 23, caused by the sudden drop of Bitcoin and other cryptocurrencies.     Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 07/09/2022 - AXIE - AxieCon Barcelona ➺ 08/-9/2022 - KAVA - Kava 11 Launch ➺ 11/09/2022 - THETA - Metaweek   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin (as well as the rest of the cryptocurrency market) has taken the past 7 days to stabilize from the sudden drop from two weeks ago. While some cryptocurrencies (such as Ethereum) managed to book double-digit gains, Bitcoin was quite a bit more conservative. The largest cryptocurrency by market cap is now trying to remain near the $20k mark, as well as attempt a push above it. With the hard week-by-week reduction in volume, this is very much a news-driven market, rather than one driven by technicals.   Even though Bitcoin remained in pretty much the same spot compared to the previous week, analysts are conflicted as to where the largest cryptocurrency by market cap will head in the future. While some are calling for a $30k push due to a double bottom pattern, some are calling for the price of $10k as Bitcoin whales have started moving and taking out some BTC from their wallet. Bitcoin’s price direction will most likely be decided by equity markets (due to the correlation between the two), as well as regulatory updates.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside at an area between $20,750 and $21,620. On the other side, analysts state that traders should watch out for $19,400, as this is the only level separating Bitcoin from the $17,550 level. Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Remains Under $20K; ETH Merge Prep in Highlights| KuCoin
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

Ethereum's Merge May Make ETH Officials-Friendly

ING Economics ING Economics 07.09.2022 09:21
The Ethereum blockchain is on the verge of a major and risky upgrade. This upgrade, if successful, would greatly reduce electricity use. This, in turn, would increase Ethereum’s acceptability to policymakers and financial institutions An ambitious upgrade to the world's second most important blockchain After a long period of anticipation, and if final tests go well, the world’s second blockchain Ethereum will probably transition from “proof of work” (PoW) to “proof of stake” (PoS) later this month. This means that transactions on the Ethereum blockchain will no longer be recorded by miners that spend a lot of computing power to prove they worked hard to verify transactions. After “the merge”, transactions will be processed by validators, that have staked Ether (in other words, put collateral in escrow) that can be forfeited if it turns out they were acting in bad faith. The discussion about the pros and cons of PoS vs PoW is almost as old as Bitcoin, and we can’t represent all arguments here. What we’re interested in, is that this transition to PoS may over time increase the acceptability of Ethereum, and all of the apps built on top of it, for policymakers and regulators. This in turn may provide a boost to traditional financial institutions' willingness to develop Ethereum-based services. Ethereum is not the first blockchain to adopt PoS. But it is generally considered the most important blockchain after Bitcoin, and Ethereum is a key building block of the decentralised finance universe. Moreover, Ethereum won’t go down for scheduled maintenance over the weekend to upgrade the network. Instead, as ethereum.org describes it, the new PoS-engine will be hot-swapped in mid-flight. A flight which hosts a variety of apps, tokens and platforms. What could go wrong? The stakes for the upgrade are high Indeed, while the Ethereum community has spent a lot of time testing PoS (the PoS testing ground called “beacon chain” has been running since December 2020), implementing such a fundamental upgrade while the network keeps running, is ambitious. As anyone who has ever tried to quickly upgrade the operating system on their computer will know, there are almost always unexpected hiccups that end up taking much more time than anticipated. We expect leading Ethereum developers to be pulling all-nighters glued to their screens during the upgrade. Another question during the upgrade is how Ethereum miners will respond. They have invested in dedicated hardware, typically GPUs, that can no longer be used for mining Ethereum after the upgrade to PoS. Some miners may decide to continue the PoW-based blockchain, creating a “fork”. Such a duplication of the blockchain with all its tokens creates a variety of problems e.g. for exchanges and traders. Luckily, the crypto community has gained experience managing such forks over the years. A successful upgrade would make Ethereum much more acceptable... Describing all these challenges, you may start to wonder why Ethereum embarked on this project at all. Apart from improved scalability, the main reason is a drastic reduction in electricity consumption. Ethereum.org claims a 99.95% reduction in electricity consumption following the switch to PoS. An important non-technical consequence of this great reduction in electricity need is that it may render Ethereum more palatable to policymakers and regulators. When the European Parliament discussed the EU’s incoming Markets in Crypto Assets Regulation earlier this year, sustainability was an important topic. Policymakers are uncomfortable with the PoW consensus mechanism’s high electricity use. To be sure, the pros and cons of PoW vs PoS are food for a fundamental and often heated debate, which has many more nuances than the –admittedly impressive– kWh figures suggest. We cannot do justice to this debate in this short piece. It is clear though that the switch to PoS removes power consumption as a problem for regulators. This, in turn, removes one stumbling block for traditional financial institutions and other companies to offer Ethereum-based services, although other obstacles may remain. ...though Proof-of-Stake is not the answer to life, the universe and everything either So what’s not to like about PoS? Apart from migration risks, PoS has its own challenges. For example, its code is much more complex than PoW. This may create new vulnerabilities. Hackers will certainly be exploring the new infrastructure for flaws. Another issue is that PoS creates a new form of inequality. With PoW, there once was a sense that everybody can join in and start mining. With PoS, in contrast, the “wealthy” can stake a lot of Ethereum and reap most of the validation rewards, further increasing their wealth. Yet the reality is more nuanced. PoS staking pools do provide opportunities for those with less Ether to spare. And with PoW on the other hand, the days that an old laptop was sufficient for mining, are long gone. Some people worry about increased possibilities for censorship by PoS validators. Yet in principle, PoW miners could apply censorship as well. It is also not evident that PoS will lead to a more concentrated validator landscape than PoW, where miners have been cooperating in mining pools for a long time. In the end, it’s less the technology that makes the difference, but rather the attitude –and regulation– of those using it. More generally, there is a tradeoff between censorship resistance and the application of anti-money laundering and sanctions policies which are required to render cryptocurrency acceptable to regulators. In the end, compromises need to be struck here.   Ethereum’s upcoming migration from PoW to PoS may be the biggest planned event in cryptoland this year. The migration itself and its aftermath carry risks, and will be closely watched within the crypto community. A successful migration would be a compliment to the Ethereum community’s ability to manage big events. It would also remove an important obstacle to acceptability of Ethereum to regulators and hence development of Ethereum-based services by traditional financial institutions. Read this article on THINK TagsSustainability Regulation Cryptocurrency Banks Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Britain's New Prime Minister Is Friendly For Cryptocurrencies, The BTC/USD Is In The Down Trend

InstaForex Analysis InstaForex Analysis 07.09.2022 09:43
Crypto Industry News: Liz Truss, Britain's new prime minister, has spoken out about the past on cryptocurrencies. For example, she once said that "we should welcome cryptocurrencies in a way that does not limit their potential." Now she defeated former Chancellor of the Treasury Rishi Sunak, who had a plan to make Britain a cryptocurrency-friendly country in the struggle for power. Liz Truss won the race for the position of the new British Prime Minister, beating former Chancellor of the Treasury Rishi Sunak. The foreign minister has so far won leadership in the Conservative Party, but will eventually replace Boris Johnson as head of government. Johnson will meet Queen Elizabeth today to formally submit his resignation. The Queen then appoints Truss as Britain's new Prime Minister. Truss, 47, has promised to act quickly to beat the inflation that is currently eating away at the pound's value. "I will take bold steps to guide us all through these difficult times, develop our economy and unlock the UK's potential," she wrote on Monday on Twitter. In contrast, Sunak has openly stated that his goal is to make the UK a cryptocurrency and blockchain hub in the region. "My ambition is to make the UK a global cryptocurrency asset technology hub, and the measures we presented today will help ensure that companies can invest, innovate and thrive in this country," he said a few months ago. Technical Market Outlook: The BTC/USD pair had broken out from the narrow consolidation zone and made a new swing low at the level of $18,553. The market conditions are now extremely oversold on the H4 time frame chart, so an intraday bounce is expected towards the level of $18,940. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 08:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291733
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

How Does The Ethereum Market Look Like Today?

InstaForex Analysis InstaForex Analysis 07.09.2022 09:50
Crypto Industry News: The Ethereum merger could force many cryptocurrency miners to give up and abandon their expensive mining rigs in the midst of a profit race. The transition of the Ethereum network from Evidence-of-Work (PoW) consensus is likely to flood the crypto industry with idle Etherum (ETH) miners, causing severe disruption to all PoW tokens. Andy Long, CEO of White Rock bitcoin mines, said in an interview that the upcoming Ethereum merger will force PoW miners to look for more profitable ways, such as other PoW blockchains, and thereby "flood" other coins - increasing the difficulty of mining and reducing profitability: "The hash rates will flow to alternative coin PoW GPUs, and many miners will simply give up and try to sell their graphics farms," he said. However, there are still many cryptocurrencies that will continue their PoW path, including BTC, Litecoin (LTC) and Bitcoin Cash (BCH), as well as Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC) and Ravencoin (RVN) . Technical Market Outlook: The ETH/USD pair had managed to rally 17.62% before the rally was capped at the level of $1,685 and the Gravestone Doji candlestick pattern was made on the H4 time frame chart. The market reversed almost all of the recent gains and broke below the technical support located at the level of $1,530. The next target for bears is seen at the level of $1,476 and at the last swing low located at $1,425. The momentum is weak and negative, which supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291735
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Turning DAI Into A Free-floating Asset, The Bellatrix Hard Fork Was Activated

Crypto.com Accelerate the... Crypto.com Accelerate the... 07.09.2022 11:42
Bellatrix goes live on Ethereum’s Beacon Chain. MakerDAO’s co-founder Rune proposes ‘Endgame Plan’ to free-float DAI. KyberSwap suffers front-end hack and attacker moves US$265,000 worth token. Weekly DeFi Index This week’s price and volume indices were negative at -4.42% and -15.98%, respectively, while the volatility index was positive at +30.46%. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight The Bellatrix hard fork, the last major upgrade before Ethereum’s The Merge, was activated at epoch 144896 on the Beacon Chain. The purpose of this upgrade is to ensure validators are producing updated Beacon Chain blocks that will set up the codebase ahead of The Merge. Now, the last step is Paris, which will trigger the migration from proof-of-work to proof-of-stake upon hitting a specific Terminal Total Difficulty of 58750000000000000000000 (expected between 10 to 20 September 2022). Following the sanction on Tornado Cash in August, MakerDAO Co-founder Rune Christensen proposed an “Endgame Plan” to save DAI from regulatory capture. The plan would gradually reduce the real-world assets exposure, with the eventual goal of turning DAI into a free-floating asset. The proposal has received divergent opinions from the MakerDAO community. Kyber Network, the liquidity protocol on which KyberSwap is built, confirmed a front-end hack on 2 September. The attacker compromised the app’s front-end through the Google Tag Manager (GTM) script, which is generally used to track user activity and data for analytical purposes. Although Kyber identified the malicious codes and fixed them in a few hours, the hacker managed to move US$265,000 worth of Aave Matic interest-bearing USDC (AMUSDC) tokens in four transactions. Charts on Layer 2 Projects Overall, the L2 market TVL downtrend narrowed down, dropping by -2.38% in the last week. Optimistic rollup projects dropped by -1.37% and zero-knowledge rollup projects decreased by -4.36%. Ethereum’s TVL increased by +1.71%. The TVL for all major optimistic rollup projects were negative last week, and Metis Andromeda declined the most at -4.28%. In ZK rollup projects, StarkNet was under the spotlight as its TVL grew by +4.49%, followed by ZKSwap 2.0 (+0.8%). Loopring and dYdX saw a decline in TVL at -4.95% and -4.97%, respectively.
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Macroeconomics Causing Declines On Cryptocurrency Market?

Conotoxia Comments Conotoxia Comments 07.09.2022 15:55
The major tokens have experienced significant declines after a consolidation phase lasting more than a week and a half. Now they are at levels last seen in June and the lowest since the crypto bull market of H2 2020. Are cryptocurrencies in trouble? The cryptocurrency market set a local low at the end of August. Afterwards, it entered a phase of growth that restored optimism in many investors. BTC, ETH and BNB have since gained 30%, 100% and 66% respectively. However, the deteriorating macroeconomic environment, despite the optimism about Ethereum's Merge, seems to be pushing the quotes lower and lower. BTC Bitcoin stands out as having the largest market capitalization and receives a lot of attention from analysts and investors. At 20:00 GMT+3 yesterday, BTC broke through the critical level of probable support of $19530 and dove lower. It is hard to say what the next level of support might be, but it is most likely a long way down from the current price. The daily drop was about 4% yesterday. BTC price, daily candles Today, the declines continue and on the Conotoxia MT5 platform at 11 GMT+3, BTC is losing about 1%. The price is below the 100, 50, 20, and 10-day moving averages. A reading of popular indicators: MACD and the directional indicator (ADX) may indicate a continuation of the trend (MACD marks the next lower bars of the histogram and ADX draws an increasing difference between the +DI+ and +DI directional lines). ETH Ethereum is the second cryptocurrency by market capitalization. It has gained a whopping 100% of its value in the recent surge most likely triggered by a wave of news about the upcoming Merge (the transition from proof-of-work (POW) to proof-of-stake (POS) blockchain). According to the Ethereum Foundation Blog, the technology transition will save approximately 99.5% of energy and significantly cut the cost of money transfers. On the Conotoxia MT5 platform at 11 GMT+3, ETH is losing around 3.8%. Technical analysis may indicate a slightly better situation for the token than BTC. ETH price, daily candles Today, ETH broke through the possible support level of $1530, but this has already happened to an even bigger degree a week and a half ago. The price also broke through most of the analysed moving averages today (100, 20 and 10-day), except for the 50-day moving average. Through the strong rally in recent weeks, the token despite falling as much as 23.7% from its local peak is only slightly below the average (50 points) of the RSI indicator, which may indicate a lack of signal. The MACD is most likely pointing to a continuation of the declines (the MACD histogram marked another bearish bar today, interrupting the several-day upward trend). The directional indicator (ADX) does not seem to give a clear signal yet, but with the continuation of ETH's declines, it could happen any day now. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: BTC and ETH down - cryptocurrencies in trouble? (conotoxia.com)
The G20 And IMF Are Already Preparing Their Crypto Regulation

Altcoins: Chainlink (LINK) - What Is It? - A Deeper Look Into the Chainlink (LINK) Platform

Rebecca Duthie Rebecca Duthie 07.09.2022 15:52
Summary: What is The Chainlink Platform and how does it work? Uses of the Chainlink exchange. Chainlink’s present and future price positions. The Chainlink platform Chainlink, a blockchain abstraction layer that was established in 2017, enables globally interconnected smart contracts. Chainlink, a decentralized oracle network, enables blockchains to interact securely with external data feeds, events, and payment methods while providing the crucial off-chain information required by sophisticated smart contracts, which are quickly taking over as the primary type of digital contract. A sizable open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others powers the Chainlink Network. The firm is committed to ensuring that all node operators and users who want to contribute to the network are assured decentralized involvement. One of the first networks to support the inclusion of off-chain data in smart contracts is Chainlink. Chainlink is one of the top companies in the data processing industry and has a large network of reliable partners. Chainlink has garnered interest from many reputable data sources since it incorporates off-chain data, including Brave New Coin, Alpha Vantage, and Huobi. Data providers can make money off their information by selling Chainlink access to the data they have. Chainlink, a decentralized network, enables users to operate nodes and generate income from the vital data infrastructure necessary for the operation of blockchains. Chainlink powers a sizable number of decentralized Price Feed oracle networks that are already in operation and safeguard billions of dollars in value for top DeFi applications like Synthetix, Aave, Compound, and others. Chainlink now does much more than only collect and provide bitcoin pricing data to DeFi protocols like Aave. The ecosystem presently has access to over 1 billion data points and secures over $75 billion in value through integrations with 1,000 projects across 700 oracle networks. Chainlink has worked with well-known companies including AccuWeather, FedEx, FlightStats, and the Associated Press to verify data. The appointment of Eric Schmidt, the former chairman and CEO of Google, as a technical advisor to the Oracle Network Protocol is one of Chainlink's biggest victories, though. According to Schmidt, "Chainlink is a secret ingredient to unlocking the potential of smart contract platforms and revolutionizing business and society," and he is interested in helping Chainlink build a world powered by truth. Schmidt joins other well-known advisors to Chainlink, such as former CEO of LinkedIn Jeff Weiner and co-founder of DocuSign Tom Gonser. The ultimate rollout of staking allowing LINK holders to protect the network and earn rewards is scheduled for 2022 on the Chainlink roadmap. Oracle networks are a type of decentralized computing, not a blockchain, therefore while Chainlink has been working on a staking solution for years, they are not a blockchain. Co-founder Nazarov explained that Chainlink does not produce blocks but “make consensus on hundreds of oracle networks about price data.” He claims that the team is now prepared to introduce staking this year after finally being satisfied with the security and scalability of the consensus mechanism. Advantages of the Chainlink Platform Enables safe communication between off-chain data and smart contracts. Possibility of allowing smart contracts that resemble modern financial contracts. Financial compensation for securely supplying Chainlink with dependable data. Partnerships with major corporations like Google Cloud and SWIFT. Present and future prices of The Chainlink network (LINK) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Chainlink (LINK) does fall under this category. According to some analysts, the future price of The Chainlink network (LINK) could reach up to $35 by 2024 and could see a price of more than $50 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Chainlink Price Chart Sources: finance.yahoo.com, coinmarketcap.com, cryptovantage.com, cryptonewsz.com  
With Its New White Label cTrader solution, B2Broker is Ready to Revolutionize The Industry

With Its New White Label cTrader solution, B2Broker is Ready to Revolutionize The Industry

B2Brokers Group of Companies B2Brokers Group of Companies 08.09.2022 08:55
B2Broker, a leading provider of technology solutions and liquidity for the Forex and cryptocurrency industries, has officially launched its new White Label cTrader platform. The new product was created with the goal of providing brokers with access to one of the most popular multi-asset trading platforms on the market today. With this launch, B2Broker continues its commitment to providing innovative solutions that meet the needs of its clients. The cTrader platform is a popular choice among active traders due to its innovative capabilities and complex trading tools. B2Broker's white label allows brokerage companies to provide their traders with a full trading environment on the cTrader platform. This makes it an attractive option for those looking for a comprehensive trading experience. White Label cTrader In today's fast-paced world, it's more important than ever to have reliable and efficient brokerage. B2Broker's White Label cTrader provides just that, allowing you to quickly start your own Forex, cryptocurrency, or multi-asset broker. With a powerful user interface that can be customized to any design style, the White Label cTrader option makes it easy for commercial and institutional enterprises to provide personalized and tailored services to their consumers. As CEO of B2Broker, Arthur Azizov said: “cTrader is a well-known platform with a proven track record of success, and it is used by all the market's top brokers. A quick search on the Appstore for cTrader will reveal all the major companies that use this platform. We believe that in today's ultra competitive markets, every broker must offer a wide variety of trading platforms to its clients. Otherwise, the broker would lose clients who wish to trade on the cTrader platform. In addition to the traditional trading capabilities provided by the MT platform, cTrader will almost certainly attract a new category of traders and investors. When it comes to managing your crypto brokerage, and its algo capabilities, cTrader is one of the top solutions on the market. Since 2021, we have been seeing a growing demand for cTrader among cryptocurrency brokers. Since many cTrader brokers use our liquidity offering, we decided to open a whole new world for brokers that want to grow more sophisticated and cater to traders' needs, rather than requiring them to use a single platform,” The White Label cTrader platform is stable and simple in utilizing. It offers brokerages all the features they need to succeed without the need to purchase a cTrader server license, set up a backup system, establish a worldwide network of access servers, or pay people to design and administer the server structure on a regular basis. Unique Pluses: The White Label Trader is a full infrastructure that also includes a trader's room, payment systems, liquidity solutions, trading platforms, and IB programs. Combining cTrader's sophisticated trading tools with B2Broker's aggregated liquidity pool and ongoing client assistance produces an attractive solution for brokerage firms. You will have access to Tier 1 banks and other key financial institutions' liquidity. This means you may offer your clients narrow spreads with minimal latency and lightning-fast execution. Trading algos in C# using custom indicators and bots. With B2Broker's White Label cTrader, you can now provide your clients with a simple and configurable algorithmic trading solution. To keep things operating smoothly, your company will get all of the appropriate licenses and permissions. Legal requirements are met during installation, allowing you to focus on what matters most: expanding your brokerage. With B2Broker's 24-hour customer service, you'll never be alone while dealing with problems. B2Broker provides trustworthy and quick multilingual services around the clock, so whatever happens, your problem will be handled quickly! You will also have access to a demo environment, third-party integrations, STP, clear pricing, a contemporary UI, and other features. And, with proxy servers strategically positioned all over the world, you can be guaranteed a consistent connection with little lag time. Your brokerage staff will receive a comprehensive overview of the user interfaces and functionality of WL cTrader and cBroker. The training program will include an introduction to the cTrader platform, an explanation of the functions and features available to traders. Final Reflection B2Broker's White Label cTrader is the ideal option for brokers wishing to provide their clients with a world-class trading experience. Your clients may trade successfully and confidently if they have access to all of the features and tools they require. With B2Broker's customer service, which is always online, you can be confident that any issues will be addressed swiftly and effectively. So, if you're seeking a dependable and complete trading solution for your brokerage, B2Broker's White Label cTrader is the way to go!
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Hut 8 Increased Its Resources. Bitcoin: The Bearish Pressure Is Still High

InstaForex Analysis InstaForex Analysis 08.09.2022 09:16
Crypto Industry News: Canadian mining company Hut 8 reported that its bitcoin holdings had surpassed the 8,000 mark, amassing its own resources in the wake of the cryptocurrency market crash. Hut 8 published its latest mining report for August 2022. We read in it that the company increased its resources by 375 BTC in a month. In total, the miners' reserve is 8111 BTC. The company said it was mining 12.1 BTC per day for a month. While other mining operators were forced to sell some of their BTC holdings in the midst of the ongoing cryptocurrency market downturn, Hut 8 managed to continue its "longstanding HODL strategy" without getting rid of the bitcoin mined. Hut 8 also announced that it has installed 180 Nvidia GPUs in its main data center in Kelowna, Canada. This center is currently mining Ether. However, after the September update, GPU mining hardware will be used to provide artificial intelligence, "machine learning" or VFX rendering services. Hut 8 also continued to increase its mining capacity with the acquisition of Chinese ASIC MicroBT miners. The company paid $ 58.7 million for 12,000 new MicroBT M30S, M30S + and M30S ++ miners in October 2021. It also received orders for 1,000 machines a month by the end of 2022. Technical Market Outlook: The BTC/USD pair had bounced form a new swing low located at the level of $18,553 and is about to test the consolidation zone lower line seen at $19,521. The market conditions are now neutral as the bounce was made from the extremely oversold conditions. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 08:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291897
A Truce Between Cardano And Ethereum| Ethereum Movements

Ethereum Classic (ETC) Saw Its Token Value Increase

InstaForex Analysis InstaForex Analysis 08.09.2022 09:23
Crypto Industry News: Industry experts warn of the potential consequences of the Ethereum merger for other cryptocurrencies that run on Proof of Work (PoW) consensus algorithms. With Ethereum moving to the proof-of-stake Beacon Chain, many miners will have a problem. Those who have secured the Ethereum blockchain will look to continue mining in other PoW chains. Ethereum Classic (ETC) saw its token value increase by more than 10% in early September when blockchain explorer and mining pool operator BTC.com launched the zero-fee ETC pool over a three-month period. Technical Market Outlook: The ETH/USD pair had reversed almost all of the recent losses and is currently back below the last local high seen at the level of $1,685. The nearest technical support is located at the level of $1,513 and $1,475. The momentum is strong and positive again on the H4 time frame chart, so the bulls are ready to break above the local high from $1,685 and test the nest technical resistance located at $1,722. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 08:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291899
Bitcoin Maintains A Steady Bullish Potential

Will Bitcoin's Situation Improve? The First Signal For A Gradual Stabilization

InstaForex Analysis InstaForex Analysis 08.09.2022 12:01
The cryptocurrency market and Bitcoin are entering another phase of a bear market. The capitalization of all digital assets once again dipped below $1 trillion, which indicates a decrease in buying activity and aggravation of short-term negative factors. Despite this, Bitcoin managed to realize a local bullish momentum and gain a foothold above $19.1k. The bullish rebound of the cryptocurrency once again proved the powerful foundation of Bitcoin. The main cryptocurrency fell to the lower limit of the $18.5k support level, but subsequently the buyers did not let the price go lower. As a result, Bitcoin formed a green candle and settled above $19k. In the local perspective, this is a positive moment, which will delay further price reduction. At a distance of 7–10 days, the rebound of the cryptocurrency is not of fundamental importance, as the situation remains bearish. The green candle following the results of September 7, was unable to absorb the volumes of sellers. Technical metrics confirm that the bears have the initiative. The RSI and Stochastic tried to realize a bullish momentum, but in the end, the metrics reversed under the pressure of the sellers. On the daily timeframe, we see how the price of Bitcoin is gradually approaching the assault on the final support segment of $18.5k–$19.1k. BTC/USD quotes have completed the first spike at the $18.5k level. Most likely, over the next few days, we will see a retest of the support area. The next stage of the price fall will provoke a news background that risks confirming the pessimistic expectations of the market. Despite this, many analysts point out that Bitcoin is showing a high level of resilience in the current bear market. This indicates a high level of fundamental interest in Bitcoin, which can soon change the situation for the better. The first signal for a gradual stabilization of the situation was the unexpected conclusions of Arcane Research about the financial stability of public mining companies. Analysts have confirmed that the majority of miners are facing financial difficulties due to the energy crisis as well as the fall in the price of Bitcoin. However, thanks to large stocks of cryptocurrencies and financial reserves, mining companies survived. As of September 8, none of the public miners have filed for bankruptcy. Given this fact, as well as the gradually growing Bitcoin hashrate (+9% in August), Arcane concluded that the worst period for miners is over. In addition to the hashrate, this is evidenced by the positive dynamics of the growth of reserve volumes of mining companies. The improvement in the situation of mining companies was largely due to the constant sale of BTC coins for liquidity. At the moment, this process exerted strong downward pressure on the price of the cryptocurrency. If you look at the situation in the long term, then the sale of miners is a logical and healthy process of transferring coins to long-term investors. This is the process we have been observing for the last three months. During this period, the number of wallets with 0.1–10,000 BTC updated absolute highs, confirming the active period of accumulation, which is typical for Bitcoin corrective cycles. There is also an active decrease in the balances of BTC coins on crypto exchanges. Now we are approaching an ambiguous factor that can have a different effect on the capitalization of Bitcoin. The Fed's hawkish policy raises more and more questions within the US and provokes a recession in the US economy. At the same time, inflation remains high, and the department's goal, according to Powell, remains around 2% per annum. Fed officials have also repeatedly stated that they will maintain the agency's current course until significant results appear. This suggests that the situation will not change dramatically in the coming months. The positive here is the BBG study, according to which the market lays a 70% chance of a 75 basis point rate hike in September. The market has adapted to the shock therapy from the Fed, and therefore we should not expect a significant increase in volatility during this period. Despite the leveling of local problems with the fall of markets, the global situation does not change. The liquidity crisis complicates the situation for the entire industry, and therefore there is no reason to count on the growth of capitalization. Given the rate of inflation decline, as well as the current level of the key rate, the situation will begin to change dramatically in November 2022. The catalyst for the growth of Bitcoin and the cryptocurrency market will be the elections to the US Congress. Most analysts are inclined to believe that the government will inject liquidity into the markets to improve economic health before a major political event. In addition, by November, the rate will remain at a high level for quite a long period of time, which suggests an increase in the rate of decline in inflation. Given these factors, we can assume that the first thaw after the crypto winter will occur in November. However, it is still too early to judge its fundamental impact on the cryptocurrency market due to insufficient statistical data.       Relevance up to 10:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321160
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

Ethereum: The Bulls Are Looking Poised To Remain In Control

InstaForex Analysis InstaForex Analysis 08.09.2022 14:22
Technical outlook: Ethereum has rallied through the $1,657 highs after recovering from the $1,489 lows on Wednesday. The price action is in line with our projection as the bulls prepare for another push towards $1,700-10 in the near term (intraday). The bulls are looking poised to remain in control holding prices above the $1,489 interim lows going forward. the price is looking higher towards $1,750 and $1,800. Ethereum has carved a larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart here. Since then, the crypto has been unfolding a corrective rally, which seems to have completed two waves at $1,722 and $1,489. Further, the bulls are now progressing into the final wave towards $1,800, which is also the Fibonacci 0.618 retracement of the earlier drop. Ethereum is currently working on its first lower-degree upswing between $1,489 and $1,657-1,700. Once the price action is over, prices could drop lower in a corrective manner but they still stay above $1,489. The bulls will be poised to be back in control thereafter and push through $1,800 before giving in to the bears. $1,489 should remain intact for the above structure to hold. Trading plan: Potential rally towards $1,800 against $1,489 Good luck!     Relevance up to 14:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291999
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Do You Know How Low Was Bitcoin Price Yesterday? | ECB's Decision

Craig Erlam Craig Erlam 08.09.2022 16:15
A mixed session in Asia overnight after Wall Street rebounded on Wednesday, while Europe is poised to open a little higher as well. It’s been a frankly awful few weeks for stock markets so yesterday’s gains will come as a mild relief, albeit one I don’t think anyone is getting particularly excited about. Given the economic backdrop, this could be nothing more than a dead cat bounce. Of course, there may be more potential next week if the US delivers a favourable inflation report. With the BoC and RBA both signaling a desire to ease off the brake in the months ahead, the Fed could be next if inflation allows, at which point we could see investors become a little more optimistic as they assess the damage. Perhaps the anticipation of another encouraging inflation report is what’s already tempting investors back in. More bold action needed from the ECB Of course, not all central banks are at the dovish pivot stage yet, in fact, the ECB is only just getting started. Today’s rate hike is only the second of the cycle and will take the deposit rate above zero for the first time in a decade. There’s a long way to go to get inflation in check which makes a 75 basis point hike all the more reasonable. This is the problem with starting the process so late and learning nothing from the experience of other central banks this year, the ECB is forced to play catch up quickly and the economy could suffer the consequences. A recession looms for the euro area and the central bank is not going to make the process any easier. Lockdowns persist Asia appears to have missed out on the midweek rebound and China’s zero-Covid strategy may be to blame. The country announced an extension of the lockdown in Chengdu which exacerbated fears of an economic slowdown in China as it continues to push back against the yuan decline, support the property market and boost domestic demand. Clearly, the impact of its Covid stance stretches beyond its own borders and today it appears to be taking a toll on regional markets. Sell-off momentum fading? Bitcoin recovered a little on Wednesday after slipping to around $18,500 – its lowest level in almost three months – as broader markets pared recent moves. It’s lower again today though and appears to have quickly run into resistance around $19,500 where it had seen strong support in late August and early September. It’s not looking great for crypto, with bulls perhaps hoping sentiment in the broader markets can sustain some of yesterday’s lift. One thing worth noting is that momentum in the decline appears to be fading which could suggest we’re seeing some profit taking on approach to the June lows, which may support the price in the short-term. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

Swiss SEBA Bank Announced The Introduction Of The ETH

InstaForex Analysis InstaForex Analysis 09.09.2022 09:39
Crypto Industry News: Swiss SEBA Bank announced the introduction of the ETH staking service for institutional clients. This will happen exactly when Ethereum's transition to the Proof-of-Stake consensus model is achieved. The bank today published a press release in which it informs that this move is a response to institutional demand. They show interest in such services as cryptocurrency staking and DeFi. The bank's platform to manage staking options will give its users the ability to use a variety of protocols, including Ethereum, Polkadot and Tezos. In the future, the Swiss company intends to launch similar services for additional protocols. Commenting on the growing demand from their customers for this type of service and the upcoming the Merge, director of technology and customer solutions at SEBA Bank, Mathias Schutz said: "The Merge Ethereum is an anticipated and significant milestone for the world's second largest cryptocurrency, providing users with improvements in the areas of security, scalability and sustainability. Launching our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network through a trusted, trusted, secure network. a safe and fully regulated counterparty ". SEBA Bank is a cryptocurrency financial institution that is fully regulated by government institutions. It offers a wide range of solutions, including trade and credit services. By directing its activities towards Ethereum, the bank counts on acquiring new institutional clients who want to help secure the network. Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,720, which is abive the 100 DMA already. The next target for bulls is seen at the level of $1.722 (technical resistance), $1,785 and $1,819. The nearest technical support is located at the level of $1,513 and $1,654. The momentum is strong and positive again on the H4 time frame chart, so the short-term outlook for ETH remains bullish. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292120
Scottie Pippen (Basketball Player) Received A Personalized NFT

Bitcoin Is Losing Market Share To Competing Altcoins

InstaForex Analysis InstaForex Analysis 09.09.2022 09:46
Crypto Industry News: The cryptocurrency industry has lost a trillion dollars in recent months as Bitcoin plunged below $ 20,000. Famous investor Peter Schiff says the fierce competition from altcoins is taking its toll. Less than a month ago, the price of Bitcoin soared above the $ 23,000 mark. The sharp decline in the cryptocurrency in the remainder of August until this week saw a correction of about 20% of its total market capitalization. Schiff Gold Fund CEO and Austrian economist Peter Schiff says Bitcoin is losing market share to competing altcoins: "BTC dominance has dropped to 38.1%, its lowest level since June 2018. Competing against nearly 21,000 other intrinsically worthless digital tokens, NFT and cryptocurrency-related stocks is taking its toll. Even though Bitcoin is unique, its alternatives are not." Several crypto Twitter commentators were quick to disagree with Peter Schiff's claims. Even his son Spencer has questioned his father's claim that all competition in the crypto markets is flooding with Bitcoin. It is true that many new cryptocurrencies do not have a known supply limit of 21 million coins on the Satoshi Blockchain. However, Bitcoin does not necessarily compete with its peers in the cryptocurrency sector. The fast-growing market offers a wide variety of virtual financial services. Moreover, as Peter Schiff himself pointed out, not all Bitcoin "peers" offer users a currency based in part on the economy of digital scarcity. So they don't really compete for the same users. Technical Market Outlook: The BTC/USD pair had bounced form a new swing low located at the level of $18,553 and is trading back above the $20k level. The last local high was made at $20,822 (at the time of writing the analysis) and the next target for bulls is seen at $21,368 (100 DMA). The market conditions are now neutral as the bounce was made from the extremely oversold conditions. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $20,411 WR2 - $20,111 WR1 - $19,911 Weekly Pivot - $19,840 WS1 - $19,610 WS2 - $19,509 WS3 - $19,209 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292122
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

Ethereum Confidently Maintained Its Bullish Positions

InstaForex Analysis InstaForex Analysis 09.09.2022 11:29
While Bitcoin fell below $19k and was on the verge of falling to the local bottom, Ethereum confidently maintained its bullish positions. After a local recovery impulse of the first cryptocurrency, the main altcoin resumed its upward movement. The asset has reached the upper boundary of the resistance zone and, as of this writing, is trying to gain a foothold above the $1,700 level. In general, the altcoin successfully implements the bullish market momentum ahead of the Merge update. However, should we expect a full-fledged upward movement of the cryptocurrency shortly before the merger? From the fundamental point of view, the answer to this question seems not so obvious. Two days ago, the Bellatrix update took place on the Ethereum network, which became the final chord of preparing the altcoin for the transition to PoS. The upgrade was successful, but investors had some doubts. They were dictated by a significant increase in the number of missed blocks in the ETH network after the Bellatrix update. The indicator increased by 1,700%, and the number of blocks that did not pass the check on the first attempt reached 9%, against the norm of 0.5%. The Ethereum developers said that the problem was related to nodes that did not install new software. It is reported that about 25% of the nodes are using the old collateral, but even a small percentage caused failures in the ETH network. Questions about the decentralization of Ethereum are also gaining momentum, because more than 50% of all ETH nodes are made up of the United States and Germany. Amazon is the end user of more than 50% of Ethereum nodes, and the Geth open source project remains the main enabler for most of the nodes. However, judging by the growing volumes of trading and the increase in addresses, the market is not very worried about the possibility of transactional censorship. The situation with the update of Ethereum remains stable and interest in the main altcoin is growing. Given the fundamental interest of investors in Ethereum, a similar situation should be observed in technical metrics. On the daily chart, Ethereum remains bullish. The price managed to hold the key support level at $1,400. Thanks to this, the "cup and handle" pattern remains relevant and, consequently, the bullish potential of the price movement to $2,700-$2,800. Technical indicators also confirm the bullish market sentiment. The Relative Strength Index crossed the 50 level and continues to move up, which indicates growing buying volumes. The stochastic oscillator is also successfully implementing bullish impulses and is approaching the overbought zone. Given the proximity and fundamental nature of the Merge update, the metric will remain close to this zone until the merge is completed. An important and positive signal for the ether was the fall in the level of Bitcoin dominance to 36%. Subsequently, the metric recovered to 39%. However, this is direct evidence that Ethereum is temporarily at a higher investment preference than Bitcoin. In other words, the main flows of investments, including institutional ones, are directed to the main altcoin. This thesis is also confirmed by colleagues from Chainalysis, who are sure that ETH has taken on the burden of temporary leadership. Experts report that due to the improvement in the technical characteristics of ETH, including staking, altcoin will become even more popular among large players. This thesis is confirmed by the on-chain metric showing the number of addresses with 1000+ ETH. A significant increase in the number of addresses with this amount of ether coins indicates a high level of confidence in the upcoming update. However, it may also indicate investors' plans to take advantage of the staking feature after the merger. For ETH, this is doubly positive news, as profitable staking will allow the asset to avoid a sharp and massive sell-off. However, we should expect a slight drop in the price of Ether after the update due to market conditions. Ethereum on-chain metrics also show positive dynamics. Trading volumes have taken a sharp upward direction, but still do not reach the levels of mid-July, when the altcoin was at its peak of growth. The number of unique addresses in the cryptocurrency network remains high, but practically unchanged. The indicators of the main on-chain metrics indicate the initial stage of the emergence of an upward trend. It is likely that the numbers will continue to rise ahead of the merger and will peak on September 15–16. It is then that we should expect a peak in the growth of ETH/USD quotes. Given the fundamental reasons for growth and investors' faith in a successful upgrade, there is no doubt about the local bullish trend of ether. On the eve of the merger, the asset will consolidate and gradually approach $1,800–$2,000. Given the successful movement in this area a few weeks ago, one can be sure of ETH/USD consolidation above $2,000. The main targets of Ethereum within the bullish movement due to the Merge update are the $2,000-$2,100 and $2,400-$2,500 areas. Most likely, the price is able to go higher and stab higher levels, but the main potential ends in the $2,400-$2,500 area. Ethereum update will have a positive effect on the cryptocurrency and DeFi/NFT market, but given the macroeconomic background, fundamental shifts should not be expected.       Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321260
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Regulating The Cryptocurrency Market, Powell Calls For Stablecoin Regulation

InstaForex Analysis InstaForex Analysis 09.09.2022 12:16
The White House has published a new report that urges US policymakers to consider legal restrictions or outright restrictions on cryptocurrency mining in order to reduce the industry's environmental impact. The White House Office of Science and Technology Policy report focuses on the cryptocurrency mining industry, which has grown significantly in the US over the past two years. U.S. President Joe Biden's executive order on cryptocurrencies in March led to a report proposing standards focused on clean energy use, low water consumption, and low energy intensity. The report recommends a complete ban on such protocols that damage the environment. The report also provides a list of recommendations designed to ensure the development of digital assets. According to the report, the goal of these recommendations is to close data gaps, manage electricity demand, reduce greenhouse gas emissions, reduce e-waste and environmental pollution. And also to support the transition to clean energy. Cryptocurrencies need better regulation In addition to the White House report, U.S. regulators issued a statement on Thursday about their intentions to dominate the cryptocurrency sector and bring some law and order to the nascent asset class. Speaking at an industry conference, Gary Gensler, chairman of the Securities and Exchange Commission (SEC), said he supports the idea of Congress giving more power to the Commodity Futures Trading Commission (CFTC) to regulate cryptocurrencies. Allowing the CFTC to manage the BTC and ETH markets will allow the SEC to focus on regulating the rest of the crypto market, as the agency believes that all other cryptocurrencies are securities and should be governed by existing securities laws. Powell calls for stablecoin regulation Federal Reserve Chairman Jerome Powell discussed stablecoin legislation during a live speech. These statements by Powell echo similar comments from regulators around the world, including the IMF, which emphasize the importance of creating a solid legal framework regarding the use of stablecoins.   Relevance up to 09:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321268
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin: What's Next For The Leader Of The Cryptocurrency?

InstaForex Analysis InstaForex Analysis 09.09.2022 13:02
The calm in the financial markets is deceptive. Those who lost interest in bitcoin because it fell into the 5.4% trading range, the narrowest since October 2020, can eat their hearts out. The nature of the market is such that consolidations are replaced by trends, and vice versa. And the longer this or that asset is traded in a narrow range, the more explosive its further rally promises to be. Or, conversely, collapse. In the case of BTCUSD, the pendulum could have swung either way, but the fall in the US dollar inspired the token to surge. Looking at the peak of the leader of the cryptocurrency sector to the very bottom since mid-June, the "bears" rubbed their hands. In their opinion, the decline in miners' incomes to the lowest level in the last two years due to increased competition, increased electricity costs, and the crypto winter should have forced them to sell tokens to cover the costs. On the contrary, BTCUSD bulls pointed to the rise in the ratio of open interest in perpetual swap contracts for crypto assets to the number of coins held in reserves on exchanges, or the so-called leverage ratio, to record peaks. Despite bitcoin's 70% drop from its November highs, interest in it is still high. So, prices will rise, you just need to wait for the right moment. Dynamics of Bitcoin and Leverage Ratio The problem is that no matter how much the fans of crypto assets would like to live an independent life, it will not work. Big money has long entered the market, which perceive bitcoin as a risky instrument, and the fate of such assets depends on the Fed and its monetary policy. In this regard, the fall of BTCUSD against the backdrop of Jerome Powell's hawkish rhetoric in Jackson Hole and the growth of the pair's quotes on expectations of a slowdown in US inflation look logical. Comments from FOMC officials, determined to fight the highest prices in decades and willing to sacrifice the labor market and the economy to do so, raised the chances of a federal funds rate hike by 75 bps in September to 86%. Large banks added fuel to the fire. Goldman Sachs and Nomura have changed their forecasts for the trajectory of borrowing costs. They see them up 75 bps in September and by 50 bps in November, up 25 bps higher than previous ratings. The cycle of monetary restriction will certainly not end there. However, according to the market, the figure of 86% is too high. It will certainly fall if US inflation continues to slow down in August from 8.5% to 8.1%, as Bloomberg experts predict. This circumstance makes it possible to sell the US dollar and buy risky assets, including US stocks and bitcoin. The markets are again going against the Fed, which they managed to do momentarily in the summer. I believe that history will repeat itself, so the potential for a BTCUSD rally seems limited. Technically, on the daily chart, consolidation above fair value at 20,000 amplifies the risks of a pullback. Start selling the token on the rebound from resistances at 21,500, 22,300 and 23,150.       Relevance up to 10:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321276
4 Cryptocurrencies To Keep A Watch On: Elrond (EGLD), Geojam (JAM), Alpine F1 Team Fan Token (ALPINE), QTUM Token (QTUM)

4 Cryptocurrencies To Keep A Watch On: Elrond (EGLD), Geojam (JAM), Alpine F1 Team Fan Token (ALPINE), QTUM Token (QTUM)

Rebecca Duthie Rebecca Duthie 09.09.2022 14:00
Summary: A summary of EGLD, JAM, ALPINE, QTUM, Proof of work, proof of stake, proof-of-history AAL, NFTs, DeFi. The Elrond platform Elrond is a blockchain protocol that uses sharding to provide incredibly quick transaction rates. According to the initiative, the Internet of Things, decentralized finance, and fintech make up the new internet's technology ecosystem. According to reports, its infrastructure for executing smart contracts can handle 15,000 transactions per second with a six-second latency and a $0.001 transaction fee. The native coin of the blockchain is called eGold, or EGLD, and it is employed for network fee payment, stake payments, and validator rewards. Elrond bills itself as a blockchain platform for enterprise use, decentralized apps, and the emerging internet economy. Its tremendous scalability is its key selling feature, and it claims to be the first blockchain network to handle state, network, and transaction sharding. It aims to strengthen its ecosystem and establish EGLD as a store-of-value asset, according to its economics paper.  Read more: Altcoins: Elrond (EGLD) - What Is It? - A Deeper Look Into the Elrond (EGLD) Platform  The Geojam Platform Fans can now interact directly with celebrities, athletes, and influencers like Mariah Carey, Machine Gun Kelly, and Nyjah Huston thanks to Geojam. With the launch of the cryptocurrency, $JAM, the platform integrates the principles of independent cryptocurrency communities and traditional social networking while fusing the technological developments of decentralised finance with real-world experiences. There are now two ways on the platform to redeem experiences and extra offerings: jam shop transactions and campaign competitions. Two new pool types, Creator Access Pools and Proposal Pools, will soon be introduced on Geojam (CAPs). On Geojam, pools function similarly, requiring participants to stake $JAM in return for rewards and access to an endless array of games, experiences, and unique items in the Jam Shop.  The following is a breakdown of their products: Pools of proposals Geojam and user-generated initiatives are requests for features or creator opportunities, and proposals are  a type of platform governance where users must stake $JAM to participate. In the end, many of these ideas will become experiences in Creator Access Pools (CAP). Read more: Altcoins: Geojam Token (JAM) - What Is It? - A Deeper Look Into the Geojam (JAM) Platform  The Alpine F1 Team Fan Token platform The biggest and most well-known cryptocurrency exchange in the world, Binance, has created the first Formula One-themed fan token called Alpine F1 Team Fan Token (ALPINE). The ALPINE token will enable supporters of the Alpine F1 Team an opportunity to interact with the racing brand after Binance published its first fan token in LAZIO. The ALPINE cryptocurrency has a number of present and potential uses, according to Binance. Owners of ALPINE tokens will have access to voting sessions on Binance once the token launches. Other fan tokens like LAZIO and PORTO allowed fans to vote on subjects like selecting the starting eleven for a test game and influencing what color the captain's band should be, although Alpine hasn't yet provided any ideas regarding how this could appear in practice. Read more: Altcoins: Alpine F1 Team Fan Token (ALPINE) - What Is It? - A Deeper Look Into the Alpine F1 Team Fan Token (ALPINE) Platform  The QTUM Token platform Qtum (pronounced "quantum") is an open-source blockchain platform for proof-of-stake (PoS) smart contracts and a value transfer mechanism. It aspires to combine the advantages of Bitcoin and Ethereum into a single chain. With the addition of smart contract execution and DApps, Qtum is based on Bitcoin's UTXO transaction architecture. DeFi applications are now supported by the platform. Qtum is a general-purpose blockchain that aims to address the four issues that its founders found most problematic with the BTC and ETH blockchain platforms: governance, interoperability, rigidity and cost of the proof-of-work mechanism, and difficulty connecting smart contracts with practical applications. Account Abstraction Layer (AAL) and Decentralized Governance Protocol are two distinctive technologies on the Qtum blockchain that seek to address this issue (DGP).  Read more: Altcoins: QTUM Token (QTUM) - What Is It? - A Deeper Look Into the QTUM (QTUM) Platform  Sources: fxmag.com
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

The BTC/USD Pair Is Strongly Bullish, New Opportunities

InstaForex Analysis InstaForex Analysis 10.09.2022 12:25
The price of Bitcoin rallied and now is trading at 21,256. It has increased by 15.47% from Wednesday's low of 18,540 to 21,408 today's high. Technically, the price action signaled that the downside movement ended and that the buyers could take the lead. In the last 24 hours, BTC/USD is up by 10.74% and by 5.46% in the last 7 days. The rebound helped the altcoins to rebound and recover as well. BTC/USD Sell-Off Ended! As you can see on the H4 chart, the BTC/USD found support at 18,595 and now it has developed a strong rally. After escaping from the down-channel, the cryptocurrency was somehow expected to turn to the upside. Now, it has ignored the 20,575 and 20,700 resistance levels signaling potential further growth. BTC/USD Outlook! BTC/USD is strongly bullish and it could extend its growth without a temporary retreat. Breaking and closing above the 20,700 key level was seen as a bullish signal. The next major upside target is represented by the 22,400 level. Coming back to test and retest 20,700 could bring new long opportunities. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 19:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292228
The Gold Rally Is Continuing To Stall, This Could Be A Good Year For Crude Oil

Crude Prices Are Rallying On Supply Risks, Gold Is Higher

Kenny Fisher Kenny Fisher 10.09.2022 15:00
As the world mourns the death of Her Majesty Queen Elizabeth II, world leaders pay tribute for her incredible service and leadership. The UK enters a 10-day mourning period that will see some events delayed or suspended. ​ The BOE announced they will push back their interest rate decision to September 22nd. UK train strikes will be delayed as three British trade unions will suspend their scheduled strike action. ​ The Office of National Statistics confirmed the upcoming economic publications are due to go ahead. ​ That includes UK trade, GDP, unemployment, inflation, housing, and retail sales data. Wall Street is finishing the week on a positive note as the dollar’s rally has run out of steam as optimism grows for inflation to continue to come down. Economists are slightly lowering their inflation forecasts and that could mean the Fed won’t have to take rates above 4%. Another round of hawkish speak from both the Fed’s Bullard and Waller was not able to derail today’s stock market rally. ​ ​ It is looking like traders are growing confident they will soon see the end of the Fed’s interest rate hiking cycle. ​ Supporting the risk-on narrative was softer-than-expected Chinese consumer and producer inflation data that could pave the way for more easing by the PBOC. Oil Crude prices are rallying on supply risks and as the dollar has tentatively peaked. Lately it has been mostly bad news for oil prices as demand concerns worsened given China’s deteriorating COVID situation, a surprise jump in stockpiles, and on expectations world leaders will continue to exhaust emergency measures to send energy prices lower. Energy Secretary Granholm said President Biden is considering the new releases from the US Strategic Petroleum Reserve (SPR). Russia President Putin’s threat to cut off all energy supplies is a growing risk as Ukraine recaptures territory. ​ The risk of some supply disruptions over the next few months remains elevated and that should help oil prices stay above the $90 a barrel level. Gold Gold is higher as the historic run higher in the dollar appears to have run out of steam. It seems Wall Street is getting comfortable with the idea of another 75-basis point rate hike by the Fed. ​ Fed’s Bullard supports a third straight 75-bp interest rate hike even if next week’s inflation reports show price pressures continued to ease. ​ Fed’s Waller also supports another significant rate hike this month. Gold is finding a home above the $1700 level and that could continue if investors continue to look beyond hawkish central bank speak. Gold’s fate could be determined after this next inflation report. ​ If consumer prices come in hotter-than-expected, gold might see selling pressure target the $1680 region. ​ A sharp deceleration with pricing pressures might only provide a modest boost higher for gold as policy makers. Bitcoin Bitcoin is welcoming the return of risk appetite and a falling US dollar. ​ The broad market rally has rejuvenated cryptos and that could continue if investors continue to look beyond hawkish central bank overtures and lingering recession risks. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
A Truce Between Cardano And Ethereum| Ethereum Movements

What Is Wrapped Ether, Has It Much Utility And Efficiency?

Kucoin Blog Kucoin Blog 10.09.2022 15:05
If you have ever used the Ethereum blockchain, you must have noticed that most of the tokens used in trading and investing are ERC-20-based tokens. This token standard has become the most used option in decentralized applications (dApps), wallets, and crypto protocols due to its many functions. However, Ethereum blockchain’s native token, Ether (ETH), in a tough position as it doesn’t align with ERC-20 token standards. Regardless, users continue to demand to use Ether in the decentralized finance (DeFi) and crypto space. This is where Wrapped Ethereum (WETH) comes in. Wrapped Ether has become one of the favorites of investors and developers on the Ethereum blockchain as it presents a lasting solution to the use of Ether in the DeFi sector. WETH is pegged to Ethereum’s price and is an ERC-20 token. Users can easily convert Wrapped Ether back into Ether. This article is an in-depth introduction to everything Wrapped Ethereum. Keep reading to find out more! Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain, Ether token, and much more. What are Wrapped Tokens Before we get into the nitty-gritty of Wrapped Ether, let us start with understanding the wrapped token concept. Wrapped tokens are digital assets that allow for the movement of value from one blockchain to another, a form of blockchain interoperability. The most popular wrapped token is the Wrapped Bitcoin (WBTC), which is pegged 1:1 to the price of Bitcoin (BTC), giving 1 WBTC the same value as 1 BTC. WBTC solves the interoperability limitation of Bitcoin by allowing BTC holders access to other blockchain ecosystems through its ERC-20 or TRC-20 functionality. Wrapped coins have been compared to Stablecoins, and they fit this description in a way. Stablecoins, such as the USDT, track the value of a real-world asset like the dollar, making $1 the same as 1USDT. What makes wrapped tokens fascinating is not the fact that they are pegged 1:1 to the value of another asset. Instead, it is the technology behind these assets, and the way value is backed and preserved. Classification of Wrapped Tokens Broadly speaking, there are two kinds of classes that all wrapped tokens fall into, including cash-settled and redeemable. The former, cash-settled wrapped tokens, cannot be redeemed for the underlying asset after conversion. This makes cash-settled tokens a permanent one-way street kind of token. On the other hand, redeemable wrapped tokens — as the name suggests — can be converted back into the original asset. Meanwhile, blockchains determine the functionality of a token being wrapped, by playing host. For example, wrapped privacy tokens are hosted in the Monero or ZCash blockchains. Usually, the wrapping process is done to tokens with notable utility outside their native blockchains. Here’s a quick look at some of the types of wrapped tokens available on the market: Centralized/Custodial Wrapped Tokens One of the most popular examples of a centralized or custodial wrapped coin is the wrapped Bitcoin (WBTC), an ERC-20 token. The value of this token class is sustained by two parties: a custodian and a merchant. Both parties validate transactions on this wrapped coin class using the Proof-of-Stake (PoS) mechanism and ensure the underlying coin is stored securely. To convert a coin into its wrapped form in this setting, the coin will be delivered to a merchant. This merchant stores the said coin as collateral with a custodian that supplies the desired wrapped coin. Non-Custodial Wrapped Tokens As the name suggests, this wrapped token class does not involve any third-party custodial services. Minting of non-custodial wrapped tokens is handled on a DAO. Hybrid Wrapped Tokens Hybrid tokens operate with both a centralized custodian and a DAO, infusing the best of both custodial and non-custodial wrapped token types. Hybrid tokens affect the most interoperability and flexibility across chains. However, this wrapped token type is relatively unknown and not acceptable or compatible with many DeFi projects and decentralized applications. Wrapped Ethereum (WETH): The Basics Drawing the meaning from wrapped tokens, Wrapped Ether is the tokenized version of Ether and is pegged 1:1 to the price of ETH. Unlike Ether, WETH cannot be used to settle gas fees. Thanks to its ERC-20 functionalities, WETH is suitable for advanced blockchain transactions in the DeFi space. Despite being the progenitor of the ERC-20 token standard, the ETH token was created too early before the advent of the ERC-20 idea, cutting it out of many functions. Creating and Minting Wrapped ETH Creating (minting) Wrapped Ether rests in the hands of the users of Ethereum and is a seamless and quick process. ETH holders simply have to send their tokens to a specific smart contract, which automatically generates WETH and credits it to the user’s wallet. The smart contract serves as a custodian and locks up the ETH, thereby ensuring every single WETH in existence is backed by ETH reserves. To maintain the WETH peg to the value of ETH, all WETH is burned (destroyed) whenever it is exchanged for ETH. An easier method of acquiring Wrapped Ether is to swap another token, Ethereum, or any other tokens in your possession, using coin exchangers. Some popular options for swapping your tokens for WETH include Uniswap or Sushiswap. How are Wrapped ETH (WETH) and Ethereum (ETH) Different? Some traders grapple with understanding the difference between ETH and WETH. Let’s start by understanding what Ethereum is. Today, many crypto projects prefer to create unique native tokens for facilitating transactions on the blockchain. In this sense, Ethereum created Ether (ETH) as the native cryptocurrency for its network. That said, customers interested in facilitating transactions directly on the Ethereum blockchain must use ETH to complete the process. Ether has grown into a massive asset and is used in several settings, such as for payments of goods and services on the Ethereum network, settling gas fees, and speculation. Now that we know what Ethereum is, Wrapped Ethereum is the wrapped version of Ethereum. Think of a candy wrapped in a plastic wrapper; the candy is ETH while the wrapper is WETH. As mentioned at the outset, Ethereum is not an ERC-20 token, limiting its use in the DeFi and crypto world. This is the primary solution WETH offers, as it is an ERC-20-standard token, allowing ETH holders access to previously restricted niches of the market. Wrapping ETH WETH tokens are created by depositing ETH into smart contracts. These smart contracts act as a custodian and lock the deposited ETH in a secure address, which can be exchanged back into WETH on request, given the wrapped tokens are backed 1:1 by the ETH deposited. That said, converting WETH back to ETH essentially destroys or burns the tokens. Wrapping and unwrapping Ethereum comes at a small cost which varies across conversion platforms. Meanwhile, users can choose to swap ETH for WETH through a decentralized exchange (DEX). Users can also swap their tokens for the value equivalent in WETH using Uniswap, OpenSea, and MetaMask. Described below is a step-by-step guide to wrapping ETH through MetaMask: If you don’t already have a MetaMask account, create one and sign into your wallet. Confirm that you have funds available in the wallet. If you don’t, you can buy ETH using your credit or debit card, or you could send ETH from an external wallet. Log on to a decentralized exchange, such as Unswap, and link your funded MetaMask wallet with it. Then, you need to choose the Ethereum mainnet as the preferred platform before clicking swap. Once this is done, a prompt bearing the options of tokens is displayed. Select WETH from the drop-down option in the ‘Swap to’ box. Select the amount of ETH on your MetaMask wallet you want to wrap and select ‘Review Swap.’ After this, a prompt bearing the details of the final transaction is displayed. Confirm that the displayed amount is what was originally chosen and other conversion details. The transaction will not go through if you do not have enough funds. A prompt to add more funds will be displayed. Once confirmation is settled, complete the transaction by clicking the ‘Swap’ icon. The newly-minted WETH will be credited to your MetaMask wallet. Unwrapping ETH Say you want to convert your WETH back to ETH after the transaction you needed the ERC-20 token for is done, all you need to do is unwrap your WETH. Unwrapping a coin is the process of burning the wrapped coin and receiving the original version in your wallet. As for wrapping Ethereum, there are several ways to unwrap WETH, including: The manual process through interaction with a smart contract. Exchanging WETH for ETH on a DEX. Unwrap WETH on MetaMask on OpenSea. In this article, we’ll focus on the third option for unwrapping Ether. The process is as follows: Open the OpenSea website and log into your account. If you don’t have an account, create one and continue with the described process. Locate and click on the wallet icon. Though it varies for some devices, it should be at the top right corner of your screen. A prompt will appear requesting you log in using your wallet. Select MetaMask and proceed. You should already have a MetaMask wallet from wrapping Ethereum. If you don’t, create one and proceed. Sign into your wallet using your password. After that, you should see your fund details displayed on the screen. If you have insufficient funds, deposit more WETH and proceed. Click on the ‘option’ icon (usually represented by three bold dots) that appears under your WETH details. Select ‘Unwrap.’ Another prompt with the transaction details would be displayed on your screen at this point. Carefully examine the details of the transaction and ensure everything is correct. Click on ‘Unwrap.’ Once this is done, click on ‘Confirm’ to transfer the original token (ETH) to your wallet. You should be credited shortly after this. This is the best and fast and best way to unwrap and wrap ETH. Pros and Cons of Wrapped ETH (WETH) DeFi Activity Enhancement The Ethereum network is the broadest DeFi ecosystem on the block today, with the most compatibility. Unlike Bitcoin, Ethereum’s functionality is not limited to registering and validating transactions on the blockchain. WETH further improves Ethereum’s unparalleled functionality and reach by increasing its usability, leading to more advancements and innovations in the decentralized finance ecosystem. Interoperability Wrapped Ether delivers interoperability with standardized coins, allowing for the seamless flow of resources between blockchains innovatively. This inevitably improves blockchain processes and reduces the margin for errors substantially, creating room for more innovation and improvements in Ethereum’s DeFi ecosystem. Elimination of Third Parties Another critical benefit WETH renders is that it allows for decentralized transactions without the need for any third-party facilitator or mediator. Transaction Efficiency It needs no mention that wrapped coins like WETH allow transactions to be facilitated more efficiently, thanks to the immense compatibility and interoperability they have. Risks Associated with Wrapped ETH Custodial Risks As mentioned earlier, smart contracts — that serve as custodians — are needed for the process of wrapping or unwrapping Ether. That said, issues arising from the underlying WETH smart contract in a transaction could put users’ funds at risk. A smart contract is only as good as its host blockchain, making it advisable to always use more reliable exchanger platforms. Centralization Risks The primary function of the DeFi space is in its name: decentralization. The reliance on platforms to hold, mint, and burn tokens brings about some form of centralization, which defeats the whole purpose of decentralization. For example, say $2 billion worth of WETH is domiciled in a centralized entity or smart contract provider. This gives the custodian in question some degree of control over these funds. Associated Transaction Fees The wrapping and unwrapping process of Ethereum is not free; there are transaction fees associated with it. It requires gas fees, which could be exorbitant sometimes. Transaction fees and slippages from frequent wrapping and unwrapping processes can snowball into large sums and eat at funds. Will WETH Always Remain Pegged To Ether? Short answer: yes. It has to. As mentioned earlier, wrapped Ether works similarly to a Stablecoin, as it has to remain as close as possible to the price of the original asset, or else it all falls apart. This is the reason for the minting and burning of WETH on every transaction; to make sure demand and supply are tamed. In a scenario where WETH loses its peg, even if only slightly, and becomes cheaper than ETH, investors will immediately capitalize on the arbitrage opportunity and purchase more WETH and sell for ETH to make a quick profit. This would trigger a massive demand for WETH, which would, in turn, boost the price of the instrument, returning it to the peg. The same is true when the price of WETH becomes higher than Ether, with investors purchasing Ether and converting it to WETH coins for profits, lowering the price of WETH. This primary demand and supply principle is the sustaining factor in ensuring a relatively stable peg between these assets. Final Thoughts WETH brings so much utility and efficiency to the Ethereum network users. Because of its ERC-20 quality, WETH can essentially be used across most blockchains, a feature lacking in Ethereum. As discussed in the article, switching between ETH and WETH is a straightforward process that requires no technical knowledge or skills. Also, both wrapping and unwrapping processes adhere to the 1:1 rule, meaning you will always get the number of tokens desired outside transaction costs. With Ethereum — the largest DeFi and smart contract ecosystem — constantly reinventing itself, more use cases for WETH in staking, NFT auction bidding, providing liquidity, yield farming, and crypto lending will continue to emerge.
Cryptocurrency: Bitcoin Price - What Can We Expect From The Leading Crypto? (09.09.22)

Cryptocurrency: Bitcoin Price - What Can We Expect From The Leading Crypto? (09.09.22)

FXStreet News FXStreet News 09.09.2022 15:02
Bitcoin price remains at a critical level from a macro perspective and could still crash another 40%. BTC is primed for a quick recovery rally to $21,874 from a short-term outlook and could give bulls a much-needed break. Transaction history suggests a steep nosedive for the big crypto if these levels are breached. Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up. Although the short-term outlook might look bullish depending on the time frame, the larger picture for BTC remains massively bearish with the possibility of another catastrophic crash brewing. Bitcoin price and the macro outlook Bitcoin price, as described in the previous weekly update, continues to fill up the void, extending from $29,563 to $11,989. Very little volume was traded in this area as BTC rallied 145% between October 18, 2020, and December 29, 2020, creating an inefficiency. Hence, the recent dive in Bitcoin price is a corrective move to fill up the imbalance. As Bitcoin price tags the $19,087 to $20,562 support area, there is a remarkable yet obvious bullish reaction since this area coincides with the 2022 Point of Control (POC), or the highest traded volume level, at $20,562 . Investors can expect this bounce to extend a little higher as market participants vie for a recovery rally. However, the larger outlook is bearish, and a breakdown of the $19,087 level will trigger the next leg down. This nosedive could potentially shed 42% of Bitcoin price’s current value and push it down to $11,989 or the $12,000 psychological level, which could very well be the macro bottom for the big crypto and the entire market. Readers should note that this massive downswing is NOT likely to happen over the next two or three weeks but could occur in December 2022 or the first quarter of 2023. BTC/USDT 1-day chart Supporting this downtrend and the critical support areas described above for Bitcoin price is IntoTheBlock’s Global In/Out of the Money (GIOM) model. This on-chain index shows that the immediate support level at $19,230 is weak, and a breakdown could knock BTC down to the next support cluster that extends from $9,435 to $18,196. Here the roughly 4.95 million addresses that purchased 1.7 million BTC at an average price of $11,915 are “Out of the Money.” Interestingly, this level coincides perfectly with the one forecasted from a technical outlook and adds credence to the macro bottom occurring anywhere between $11,989 to $13,500. BTC GIOM On a lower time frame, Bitcoin price looks likely to pull back to $20,000 or $19,511 before making the next move. The rationale for this retracement is to refuel the bullish momentum before the next leg-up to equal highs at $21,874. A sweep of this level is likely to form a local top here, but Bitcoin price might revisit the $22,693 hurdle in a highly optimistic case. BTC/USDT 4-hour chart While Bitcoin price remains in an overall downtrend, a daily and a weekly candlestick close above $25,000 will invalidate the bearish outlook and suggest a premature reversal of the downtrend. In such a case, investors should wait for secondary confirmation like higher lows and higher highs before jumping on the bull run bandwagon that could potentially revisit the $30,0000 psychological level.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Growing Blockchain Community In Switzerland And The Middle East

InstaForex Analysis InstaForex Analysis 12.09.2022 09:44
Crypto Industry News: The Crypto Valley Association, based in Switzerland's Zug, the self-proclaimed "cryptocurrency valley", will lead the partnership with its Dubai counterpart. The aim of the venture is to connect the growing blockchain community in Switzerland and the Middle East. Both associations were founded by Ralf Glabischnig, who played an important role in establishing Zug as the center of blockchain and cryptocurrency organizations. The new partnership between associations based in Switzerland and the United Arab Emirates aims to establish contacts and exchange information between companies in both countries. Crypto Oasis co-founder Faisal Zaidi will lead the CVA-led initiative in Dubai, which already has 1,100 organizations based in the United Arab Emirates. All actors are involved in its growing ecosystem. Zaidi highlighted Dubai's efforts to adopt and promote Zug's blockchain-based companies, products and services: "This alliance will connect the scattered world of blockchain, linking Switzerland, which is a leader in disruptive technologies, with the Middle East, which is set to become the new cryptocurrency and blockchain hub." The CVA has already carried out a similar initiative in July. A branch in Latin America was then established to take advantage of the burgeoning crypto sector in South America. As announced, the CVA has sent out an invitation from Dubai International Financial Center to visit Zug. This is to identify blockchain organizations that have the potential to migrate to the United Arab Emirates to strengthen their growing ecosystem. Technical Market Outlook: The BTC/USD pair had bounced form a new swing low located at the level of $18,553 and is testing the lower channel line. The last local high was made at $22,342, so the next target for bulls is seen at $22,410. Nevertheless, on the H4 time frame chart the Pin Bar candlestick pattern was made at the top of the move, so the bears are more active around the lower channel line. The market conditions are extremely overbought on the H4 time frame chart so a pull back towards the technical support located at $20,580 is welcome. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade         Relevance up to 09:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292307
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Ethereum Is Struggling With Its Impending Merger, The ETH/USD Pair Has Been Seen Trading Above The 100% Fibonacci Projection

InstaForex Analysis InstaForex Analysis 12.09.2022 09:48
Crypto Industry News: Ethereum is struggling with its impending merger. This time the problem is with miners. Among them is a group that believes that switching to Proof-of-Stake may prove to be a threat to them. Chandler Guo, who spearheads efforts to maintain the current Proof-of-Work mechanism, believes that after the transformation, miners will be "broke" because the "multi-billion dollar" industry will disappear overnight. Despite this, the Ethereum Foundation remains optimistic about the upcoming changes. According to her, such a move will reduce blockchain energy consumption by 99.95%. This would be a step that could make this technology more environmentally conscious for companies. But Guo said the miners, who are "the community's largest stakeholder," are being pushed out of the business. He further stated that he knows that critics like him outnumbered major crypto companies including OpenSea, Tether, and Circle that back The Merge. Justin Sun, founder of the Tron ecosystem, also believes that Ethereum should remain in the PoW model. In a media podcast, he stated that the ETH was heading into uncharted territory. It could therefore turn out to be a catastrophic event given what happened to the "foundation of the crypto industry." However, Sun believes the transition to merge will work fine: "We can be 99% sure it will be a good start". Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,785, which is above the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,722 was done. The momentum is coming off the extremely overbought conditions, but is still strong and positive, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 09:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292309
The Commodities Feed: China's 2023 growth target underwhelms markets

Power Producers Need To Buy Carbon Permits, In China Loans To Households Remained Sluggish

Saxo Bank Saxo Bank 12.09.2022 10:01
Summary:  Ukrainian success in taking back significant territory from Russia over the weekend has driven a cautious further recovery in the euro and sterling at the open of trade this week. Elsewhere, yields have jumped higher, helping drive new yen weakness and taming risk sentiment as the US 10-year treasury benchmark trades near the cycle highs since June. Focus this week is on tomorrow's US August CPI release, the most important data point ahead of next week’s FOMC meeting.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) US equities Friday on a strong note up 1.5% and S&P 500 futures have extended their gains overnight touching the 4,100 level because before receding to around the 4,085 level in early European trading hours. The US 10-year yield continues to move higher trading at 3.34% and if it sets a new high for the recent cycle it will probably cause headwinds for US equities so watch the US bond market. Next big macro event is tomorrow’s US August CPI report which is expected to print –0.1% m/m suggesting inflation is beginning to cool. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong, Shanghai, and Shenzhen are closed today for the mid-autumn festival holiday. Last Friday, Hang Seng Index soared 2.7%, snapping a six-day losing streak following China’s August inflation data surprising to the downside and raising hope for more monetary easing to come from the Chinese policymakers. Chinese property names rallied on market chatters about unconfirmed stimulus measures from policymakers to boost the ailing property sector. Ahead of the mid-autumn festival, catering stocks gained. CSI 300 climbed 1.4%, led by property, dental services, infrastructure, and digital currency.  Northbound inflows into A-shares reached USD2.1billion equivalent last Friday, the largest inflow in a single day since the beginning of the year. Ukrainian success on the battlefield drives EUR and GBP strength The surprise offensive and the re-capture of a key transport hub in the northeastern sector of the front after recent focus on operations in the south caught the market by surprise and has seen the euro and sterling rebounding versus the US dollar in early trading this week, with EURUSD trading to new local highs well clear of 1.0100 briefly overnight before edging back lower. Likewise, GBPUSD pulled north of 1.1650 before treading water back toward 1.1600. It will take some time and further developments to assess whether Ukraine can capitalize on its gains and this in turn triggers a new stance from Russia on its energy policy. JPY crosses back higher as yields rise The USDJPY correction on Friday inspired by somewhat stern language from Bank of Japan Governor Kuroda has mostly faded, as USDJPY bobs back above 143.00 overnight on US treasury yields challenging cycle highs. EURJPY pulled back close to the cycle high well above 144.00 overnight on hopes that the war in Ukraine is turning in the Ukrainians favour. New highs in USDJPY may bring more two-way volatility again if Japanese officialdom backs up its concern on the situation with market intervention (buying JPY). Crude oil (CLV2 & LCOX2) Crude oil starts the week in defensive mode with the focus staying with demand concerns amid continued lockdowns in China hurting demand from the world's top importer and a rapid succession of interest rates from major central banks negatively impacting the global economic outlook. Into the mix a US-backed plan to cap prices on Russian oil sales from December 5, a stranded Iran nuclear deal, strong demand for fuel products such as diesel at the expense of punitively high gas prices and a softer dollar. In addition, the collapse of Russian defenses in Ukraine and the response from Moscow will be watched closely. Monthly oil market reports from OPEC tomorrow and IEA on Wednesday should provide some further guidance on the supply/demand outlook. Brent’s current range: $92.75 and $87.25 US Treasuries (TLT, IEF) The 10-year US Treasury benchmark edged higher toward the local range high north of 3.3% overnight, with only the June peak at 3.50% remaining as the focus to the upside (this was the highest yield for the cycle since early 2011 and the run higher in yields in June coincided with the major low of the equity bear market this year. Tomorrow’s US August CPI number is the next key test for sentiment and yield direction, while the US Treasury will also auction both 3-year and 10-year treasury notes today and will auction 30-year t-bonds tomorrow. What is going on? France’s manufacturing production contracted in July According to the latest estimate released by the French Institute of National Statistics (INSEE), the manufacturing production decreased by a stunning 1.6 % month-over-month in July. It remains in expansion on a yearly basis (+0.2 %). Without much surprise, the drop is mostly explained by higher prices, especially higher energy prices. The INSEE does not forecast a recession in France this year. Nonetheless, growth is likely to decelerate very sharply in the coming quarters. The institute forecasts that growth will be around 0.2 % in Q3 and will be stagnant in Q4 2022. India’s rice export ban risk aggravating global food crisis After a ban on wheat exports earlier this year, India has now announced restrictions on rice exports, aggravating concerns of a global food crisis. Bloomberg reported India imposed a 20% duty on white and brown rice exports and banned shipments of broke rice. The new curbs apply to about 60% of India's rice exports and go into effect Friday. India’s rice output has been depressed due to the severe heatwaves, but also possibly to cap domestic price pressures. If these measures are duplicated by other key rice exporting countries like Thailand and Vietnam, there could potentially be a severe grain shortage globally, especially weighing on poor rice importing nations. We continue to see a threat of climate change to global agricultural output, which along with a prolonged energy crisis, suggested price pressure will stay in the medium-to-long term despite some cooling off from the recent highs. European carbon price drops as EU considers sale of permits from reserves The December ECX emissions contract (EMISSIONSDEC22) has fallen by around one-third since hitting a record high last month above €99 per tons. Given the current energy crisis, EU energy ministers are moving towards a deal to sell surplus permits from its Market Stability Reserve (MSR) in order to support a reduction in the cost of producing power and heating within the region. Power producers need to buy carbon permits to offset the polluting impact of using coal and gas over renewables. Occidental Petroleum shares rise on Berkshire accumulation In a filing on Friday, Berkshire Hathaway announced that it has lifted its stake to 26.8% in Occidental Petroleum. The move comes after the investment firm got regulatory approval for increasing the stake to over 50%. Berkshire’s move in Occidental Petroleum shares is seen as a move of confidence in the oil and gas industry as a much-needed industry for bridging the gap during the green transformation. Semiconductors are in focus as the US is expected to announce more curbs on exports The US Commerce Department is expected to publish new regulations curbing exports of semiconductors to China with companies such as KLA, Lam Research, and Applied Materials likely being impacted by the upcoming regulation. The move by the US further confirms the deglobalisation under the rule of self-reliance applied by increasingly more countries. China’s medium to long-term corporate loans picked up in growth  Over the past months, Chinese policymakers instructed policy banks and gave window guidance to commercial banks to extend credits to support infrastructure construction and key industries of the economy. Some results showed up in the August loan data which recorded a growth of 16% m/m annualized in the outstanding medium to long-term loans to the corporate sector. The amount of new medium to long-term loans to corporate was RMB 735bn in August versus RMB 346bn in July and RMB 522bn in August 2021. Loans to households remained sluggish. PBoC issues a list of 19 systemically important banks The People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a list of 19 systematically important banks.  These 19 banks will face between 0.25% and 1% higher minimum capital requirements and additional leverage requirements. They are also asked to prepare contingency plans for major risk events. These 19 banks are Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, China Minsheng Bank, China Everbright Bank, Ping An Bank, Hua Xia Bank, Ningbo Bank, China Guangfa Bank, Jiangsu Bank, Bank of Shanghai, Bank of Beijing; China CITIC Bank, China Postal Savings Bank, Shanghai Pudong Development Bank, Bank of Communications, China Merchants Bank, and Industrial Bank. The CPC is set to amend the party constitution at its upcoming national congress The Political Bureau of CPC Central Committee said in a readout last Friday that the Communist Party of China (CPC) is set to “work out an amendment to the Party Constitution that facilitates the innovative development of Party theories and practices and meets the need of advancing the great new project of Party building in the new era” at the CCP’s national congress to convene starting on October 16.  It further elaborates that “the latest adaption of Marxism to China's context and new circumstances will be fully epitomized and so will the new ideas, new thinking and new strategies of governance developed by the CPC Central Committee since the Party's 19th National Congress in 2017. What are we watching next? The Bank of England (BoE) will need to go big on 22 September The meeting initially scheduled for this week is postponed following the Queen Elizabeth II. Last week, both the Bank of Canada and the European Central Bank hiked their benchmark interest rate by 75 basis points. All eyes are turning to the BoE now. Pressure is mounting for the BoE to go big this week – meaning a 75-basis points hike. In August, the central bank hiked rates by 50 basis points to 1.75 %. Despite prime minister Liz Truss’s new anti-inflation plan (which will likely lower the peak in inflation), we think the BoE will need to show its commitment to fight inflation. The Bank forecasts that UK CPI will increase to 13.3 % year-over-year in Q4 2022. But the peak in inflation is only expected in 2023. This means that the cost of living will continue increasing in the short term, anyhow. Fed speakers stay hawkish before the blackout period begins and ahead of US CPI release tomorrow Fed rate hike expectations have picked up strongly since Jackson Hole, and we have heard an extremely unanimous voice from the Fed speakers since then. Some of them have clearly made the case for a 75bps rate hike in September, with Bullard on Friday even saying that Tuesday’s CPI report is unlikely to alter the incoming 75bps rate hike in September. Governor Waller leaned hawkish as well, but did not specify the size for September’s decision, but a “significant” hike still points to that. Esther George stayed away from guiding for individual meetings but made the case for sustained rate hikes. Ethereum merge The second-largest cryptocurrency, Ethereum, is scheduled to undergo a major upgrade this week (estimated on Thursday) which, if successful, will fundamentally change the way the cryptocurrency is working. It will go from the computationally intensive proof-of-work consensus to the more energy-friendly proof-of-stake, as well as introducing a mechanism to limit the inflation in Ethereum. The crypto community is looking very much forward to this upgrade, although some are concerned about the security in the new framework. Earnings to watch Today’s key earnings release is Oracle which a better-than-expected earnings result on 13 June surprising the market on EPS by 12% as the legacy database and software maker is gaining momentum in its cloud offering. Analysts expect FY23 Q3 (ending 31 August) revenue growth to accelerate to 18% y/y, which includes its recent acquisition of Cerner in the health care sector, which is impressive for the previously low growth company despite some of the growth being driven by acquisitions. If the outlook remains strong a longer-term repricing of the company’s valuation could be in the making. Today: Oracle Tuesday: DiDi Global Wednesday: Inditex Thursday: Polestar Automotive, Adobe Economic calendar highlights for today (times GMT) 0730 – ECB's Guindos to speak 0800 – Switzerland Weekly SNB Sight Deposits 1200 – ECB’s Schnabel to speak 1530 – US 3-year Treasury auction 1700 – US 10-year Treasury auction 2100 – New Zealand Aug. REINZ House Sales 0030 – Australia Sep. Westpac Consumer Confidence 0130 – Australia Aug. NAB Business Conditions/Confidence Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean engraver Source: https://www.home.saxo/content/articles/macro/market-quick-take-sep-12-2022-12092022
Bitcoin Is Showing The Potential For The Further Downside Rotation

Will Bitcoin Overcome The Problems And Will Be Strong Again?

InstaForex Analysis InstaForex Analysis 12.09.2022 13:07
Contrary to forecasts and fears, Bitcoin managed to keep the $18.5k–$19k key zone intact. Due to this, the price of the cryptocurrency reversed and recovered above $22k over the weekend. Impulsive and powerful upward movement became possible due to a number of fundamental factors, as well as the categorical skepticism of market participants. As a result, Bitcoin reached the level of $22k and continues to consolidate to resume the upward movement. However, the influence of certain factors can significantly affect the prospects of the main cryptocurrency in the short term. At this stage, there are two fundamental problems for Bitcoin to resume its upward movement. One of them is the Ethereum update, which risks drastically changing the balance of power in the cryptocurrency market. Chainalysis analysts stated that, most likely, The merge update will give Ethereum an advantage over BTC and make it even more attractive to institutional investors. In addition to the upcoming interest in Ethereum, there has already been an increase in investment infusions into the altcoin. Indirectly, this is evidenced by the decrease in the level of Bitcoin dominance to the level of 39%. After an upward spurt over the weekend, the indicator reached the level of 41%, however, the second fundamental problem of BTC will not allow to build on this success. The key deterrent to the potential growth of Bitcoin is the macroeconomic situation and the policies of the Central Banks. Last week, the ECB raised its key rate by 75 basis points, with an increase forecast of 0.5%. This decision indicates the absence of significant changes in the monetary policy of the Central Bank. A similar situation is observed in the US, where markets estimate a 70% chance of raising the key rate by 75 basis points. This week, the inflation report for August will also be released, which is able to give a positive impetus to the crypto market. An easing of monetary policy is also likely closer to November, when the elections to the US Congress begin. This gives hope for the recovery movement of Bitcoin within wide ranges. However, there are alarming factors that indicate the likelihood of a protracted inflationary crisis. Goldman Sachs experts are confident that in 2023 the inflation rate in the United States will reach 22%. And there is no doubt that this will cause a corresponding reaction from the Fed and the maintenance of a tight monetary policy. Under such conditions, it is not necessary to hope for a serious rally in the price of Bitcoin. In the more foreseeable future, in addition to fundamental factors, serious pressure from miners remains. Miners have sold over 4,600 BTC over the past few days, according to CryptoQuant data. Mining companies will remain an important factor that puts pressure on the price both when it grows (to take profits) and when the price falls to lows. Despite the fundamental difficulties, Bitcoin has a good chance of realizing some bullish runs. The main reason for optimism was the formation of the largest green candle since May 30th. The formation of such a pattern indicates the gradual activation of buyers and the growth of bullish sentiment. Given the presence of a news and buying corridor for growth, Bitcoin may try to reach a local high at $25k. The successful consolidation of the cryptocurrency above $22k can become a springboard for further upward movement, in case of a positive response from US investors. As of writing, we see signs of the upside potential of Bitcoin drying up on the daily chart. The size of green candles gradually began to decrease, and the appearance of wicks indicates the activation of sellers. The price faced serious resistance near the $22.1k level. Technical indicators confirm the presence of a serious seller holding the $22.1k resistance zone. The RSI index continues to move upward, but the characteristic breakdown on the chart indicates the presence of serious bearish volumes. Stochastic has entered the oversold zone and is moving sideways. The probability of a reversal through the formation of a bearish crossover increases significantly. At the same time, MACD resumed its upward movement and is approaching the zero mark and the green zone. This may indicate the formation of a fundamental upward movement of the cryptocurrency. We see a similar movement on the chart of the S&P 500 stock index. The correlation of Bitcoin with the stock market remains, which adds fuel to the asset for growth. It is important to note that nothing has changed fundamentally. Bitcoin and the fund are rising while the US dollar index corrects. The break in the inverse correlation between BTC and DXY will be the main signal for a change in the fundamental situation. Given the temporary correction of the dollar index, we can count on the continuation of the upward movement of BTC/USD with a potential of up to $25k. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 10:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321413
Crypto Market Analysis By Geco.one - 12/09/22

Crypto Market Analysis By Geco.one - 12/09/22

Geco One Geco One 12.09.2022 16:23
Bitcoin (BTC) As per last week's projection, Bitcoin has plunged to the $ 19,000 region. It was in the vicinity of this support that the demand reaction appeared; as a result, the BTC quotations increased by more than USD 3,800, i.e. nearly 21%, over the past few days. This surge caused the BTC rate to break above the local resistance of $ 20,650 and is now approaching another resistance of around $ 22,500. If this barrier was also broken, then Bitcoin could continue its upward rally towards the previously defeated upward trend line, which is the lower limit of the parallel growth channel observed from mid-June to mid-August, or further up to USD 24,500. If the currently tested resistance was rejected, the BTC could at least return to the area of ​​the last defeated resistance (now support) of $ 20,650. Considering the multitude of important events in the near future, it seems that it will depend on whether the currently tested resistance will be defeated or rejected. The first of these will be the publication of a report on consumer inflation (CPI) in the United States scheduled for next Tuesday, September 13, 2022. Economists estimate that after dropping to 8.5% in July from 9.1% in June, the dynamics of consumer price growth slowed down in August to 8.1%. So it can be expected that any reading higher than expected will speak in favour of the third consecutive 75bp rate hike in the federal funds rate, which would threaten another BTC decline. Following this line of thinking, any reading below the expected level may induce the Federal Reserve (Fed) to reduce the scale of the interest rate hike to 50 basis points, which in turn would signal the approaching of the Fed's monetary tightening cycle that has been ongoing since March this year and could constitute a kind of support for further Bitcoin growth. It is worth recalling that although the US inflation report will be presented on September 13, we will have to wait until September 21 for the Fed's monetary decisions. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency has increased by almost 26% since August 29, thus reaching the region of USD 1780. A permanent breach of this level could open the door for further appreciation towards USD 2,000, but only a break above USD 2,000 could signal a potential for larger gains. One of the key events for ETH (apart from the publication of the CPI inflation report in the US) this week will be Merge, i.e. Ethereum's transition from proof-of-work to proof-of-stake consensus, thanks to which miners will be replaced with validators, the new ETH supply and the amount of energy needed to maintain the grid. Although the transition from PoW to PoS can be described as a kind of technological revolution for ETH, the most important thing for changing the course will be the reduction of new supply, not the technological aspect itself. A smaller supply with unchanged demand could contribute to an increase in the ETH exchange rate. The question, however, is whether Ethereum will be able to break away from Bitcoin, with which this cryptocurrency is highly positively correlated. If not, the possible increase in the ETH rate could turn out to be only temporary, after which the market could again succumb to pressure from macroeconomic events, particularly the Federal Reserve’s monetary policy. Therefore, there is still a risk that the ETH exchange rate will drop further to USD 1,400 or even to USD 1,250. Therefore, there is still a risk that the ETH exchange rate will drop further to USD 1,400 or even to USD 1,250. Bitcoin Cash (BCH) Since mid-August this year, Bitcoin Cash has remained in the horizontal trend between $ 112 support and $ 133.50 resistance. The increase observed last week brought the BCH price back to the upper limit of this system. Any defeat of this resistance could therefore drive a further increase towards USD 145. However, considering consolidations are usually corrective formations, it seems highly probable that before a permanent return to the path of growth, the BCH exchange rate will slump to around $ 112 or even $ 97. Litecoin (LTC) Litecoin's prices have risen by more than 22% recently, returning to the area of ​​a highly significant resistance of $ 65. If this barrier were to be broken, the LTC could continue to rally north towards the $ 73 and downward trend line. However, a possible breakdown or rejection of the currently tested resistance will probably depend on tomorrow's US CPI inflation reading. Reading the index above 8.1% could rebound the LTC rate from the currently tested level and return to 52 USD. Polygon (MATIC) The price of the cryptocurrency Polygon fell by more than 28% between August 14 and 20 this year, slipping below the upward trend line. This sale will stop; it was low in the area of ​​technical support in the region of USD 0.75, where there was a demand response. The increase observed later made the MATIC price increase by over 22%. However, considering the small dynamics of this rebound, it seems highly probable that the market will return to the downward path shortly, slipping towards USD 0.75, USD 0.61, USD 0.45, or even USD 0.32. XRP Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. The sell-off then stopped around $ 0.3340 technical support, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower limit of the earlier consolidation. In reaction to the hawkish speech of the Fed chairman two weeks ago, the XRP rate rebounded from this resistance and fell below the support of USD 0.3340. The sell-off only stopped around $ 0.32, and for the next few days, the XRP remained within a relatively narrow range between the support of $ 0.32 and the resistance in the region of $ 0.3340. The increases observed last week contributed to the breakout of the upper boundary, resulting in the XRP rate returning to the technical resistance area of USD 0.36 and the upward trend line being the lower boundary of the earlier channel. If this barrier is dropped, we could expect a decline toward USD 0.3340 in the near future.
The Bitcoin Price Movement Is In The Bullish Channel

Crypto: Not Only Is Bitcoin Ahead Of US Inflation Print, But Also Implementation Of The Ethereum's Merge

FXStreet News FXStreet News 12.09.2022 21:32
Bitcoin traders play waiting game ahead of CPI data and the Merge Bitcoin briefly hit the $22,000 level before retreating to the $21,700 level in the recent correction. Bloomberg analysts believe traders are awaiting US inflation data and a successful completion of the Ethereum Merge, before making a move. Analysts predict a comeback in Bitcoin price, identified a bullish engulfing candle in the BTC price chart. Bitcoin price witnessed a slow recovery from its slump as investors waited for the release of CPI data. Analysts believe Bitcoin price could witness a reversal of its downtrend once there is a successful completion of the Merge. Bitcoin price rally cools off ahead of CPI data Bitcoin’s price scaled $22,000 briefly before retracing the $21,700 level. Analysts at Bloomberg believe Bitcon’s price trend can be explained by the anticipation surrounding the release of CPI data and the upcoming Merge. Ethereum’s Merge and the transition to proof-of-stake is a milestone event in the crypto ecosystem. The community is likely to witness a change in the way Ethereum is created and a massive scale up in the ETH blockchain’s adoption. A hard fork is likely, according to Proof-of-Work supporters, this could result in an airdrop of PoW tokens for PoS holders. The Merge and resulting consequences could therefore shift trader’s perspective in the crypto ecosystem. The release of CPI data and the Merge could therefore influence Bitcoin’s price. Inflation figures and the upgrade in the Ethereum ecosystem could result in volatility in Bitcoin price trend. Higher than expected US inflation could harden traders’ expectations and result in a decline in Bitcoin price. Similarly, any roadblock or challenge faced by the Ethereum blockchain could hurt trader sentiment and result in decrease in capital inflow to the crypto ecosystem. Analysts identifies bullish signal in BTC price chart Phoenix Ashes, a pseudonymous crypto analyst evaluated the Bitcoin price chart and noted that there is no bullish divergence in sight. The analyst commented on Bitcoin’s price chart in a recent tweet: BraveNewCoin liquid index for Bitcoin RektProof, a crypto trader argues that Bitcoin price could retrace lower, to the $18,600 level before its rally. The analyst has therefore identified two key areas of interest to open shorts. The $20,000 level and the $26,000 level are the two key points on Bitcoin’s price trend where the analyst expects a correction, therefore an opportunity for a short. Bitcoin Perpetual Futures  
In The Coming Days Will Be The Final Consolidation Of Bitcoin

NFT With Queen Elizabeth II Profile And Bitcoin Still In A Downtrend

InstaForex Analysis InstaForex Analysis 13.09.2022 08:57
Crypto Industry News: After the death of Queen Elizabeth II, not only did a lot of news appear in virtually all media. It took several dozen minutes to create the first memecoins and NFTs, which tried to earn on the event that attracted the attention of the world. Shortly after the official announcement of the queen's death, many new NFTs on a similar topic appeared on the OpenSea platform, and new cryptocurrencies hit the exchanges. Regarding the NFT, there are a lot of "stamps" featuring the queen's profile, photos and pixel art - also those with "laser" red eyes. In turn, decentralized exchanges flooded with memecoins with names such as Queen Elizabeth Inu, Save the Queen, QueenDoge, London Bridge is Down, or simply RIP Queen Elizabeth. For some, this type of activity will be distasteful, while for others it is a great way to earn money. Technical Market Outlook: The BTC/USD pair has been seen consolidating around the level of $22,400, close to the lower channel line. The last local high was made at $22,474, so the next target for bulls is seen at $23,513. The bulls are back inside the channel despite the extremely overbought market conditions on the H4 time frame chart. A pull back towards the technical support located at $20,580 is welcome and might occure ant time now. The main trend remains down and the next target for bears is located at $17,600. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292496
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Ethereum Is Down, The CBDC Infrastructure In Norway Is Based On Ethereum Technology

InstaForex Analysis InstaForex Analysis 13.09.2022 09:02
Crypto Industry News: Norway's Central Bank has reached a milestone in its digital currency effort by releasing open source code for the Central Bank's Digital Currency Sandbox (CBDC). The sandbox available on GitHub is designed to offer an interface for interacting with the test network, enabling functions such as knocking out, burning and transferring ERC-20 tokens, according to the official partner of Norges Bank at CBDC, Nahma. Nahmii emphasized that the current version of the code does not support the main Ethereum MetaMask wallet and is only available privately to users with appropriate credentials. In addition to implementing appropriate smart contracts and access controls, Norges Bank's sandbox includes custom frontend and network monitoring tools such as BlockScout and Grafana. Nahmii noticed that the interface also shows a filterable summary of transactions on the web. Norges Bank announced on Twitter that the prototype CBDC infrastructure in Norway is based on Ethereum technology. The central bank referred to Ethereum in a blog post on CBDC back in May. Norges Bank said the Ethereum cryptocurrency system is expected to provide a "core infrastructure" for issuing, distributing and destroying central bank digital money, also known as DSPs. Technical Market Outlook: The ETH/USD pair has been seen pulling back from the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,685 was done. The momentum is coming off the extremely overbought conditions to the level of fifty, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 08:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292498
Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

Crypto Market News: Bitcoin Gained Almost 3%, Cryptocurrency Fear And Greed Index Hits 34!

Alex Kuptsikevich Alex Kuptsikevich 13.09.2022 09:20
Market picture Bitcoin rose 2.6% to $22,300 in the past 24 hours amid rising stock indices and a weaker US dollar. Ethereum lags the market, losing 0.7% to $1715. Top altcoins performance ranged from -1.5% (Cardano) to +10% (Solana). Total crypto market capitalisation, according to CoinMarketCap, rose 1% overnight to $1.06 trillion. The cryptocurrency Fear & Greed Index added 9 points to 34 by Tuesday, the highest since mid-August. BTC is just a hair above its 50-day average, which should hardly be considered an encouraging bullish sign. The following intermediate stage of recovery that could revive the market is the 200-week average at $23.2K. The latter dynamic suggests cautious market players, who are likely to shift their attention to global macro issues. The most critical of these today is the US inflation report, which could return optimism to the markets if price growth slows and sell-offs otherwise. TradingView shows a correlation between bitcoin and the S&P 500 index started to strengthen again last week. Read next: Ethereum Is Down, The CBDC Infrastructure In Norway Is Based On Ethereum Technology| FXMAG.COM Solana posted the highest daily gain among top coins. Despite the overall market decline, the number of NFTs issued on the Solana blockchain rose sharply, reaching 312K. The trading volumes of collectable assets on the network have also jumped. News background According to CoinShares, crypto funds saw a $63 million outflow last week, the highest in 12 weeks. Ethereum funds lost $62M, bitcoin funds - $13M, and short-BTC funds got an $11M inflow. These dynamics starkly contrast to the price behaviour and overall market capitalisation, showing that the institutions are not setting the prices here at all. The bitcoin network's hash rate has renewed its all-time high of 281.79 million TerraHash, shifting the projected date of the next halving from May 2024 to Q4 2023. According to a Harris Poll survey, 70% of cryptocurrency investors are hoping to become billionaires, which is significantly above the number among traditional investors. On September 19, due to increased regulatory pressure, Huobi will delist seven anonymous cryptocurrencies, including Dash (DSH), Monero (XMR) and Zcash (ZEC).
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Bitcoin Will Continue Its Upward Movement But Growth May Slow Down

InstaForex Analysis InstaForex Analysis 13.09.2022 13:15
Bitcoin continues its upward movement and confidently consolidates above the $22k level. The cryptocurrency is slowly moving towards the next resistance area, which runs at $22.5k–$23.1k. At the same time, the ultimate target of the bullish movement can be called another retest of the upper boundary of the $18k–$25 wide range. Bitcoin technical indicators show local weakness caused by the $22.6k resistance zone piercing, which triggered an increase in sellers' volumes. As a result, the RSI reached 60 and turned sideways. The stochastic oscillator has been in the overbought zone for the second day. The metric formed a bearish crossover and began to decline. These technical metrics indicate a local decrease in buying activity. At the same time, the MACD remains bullish and maintains an upward movement towards the zero mark and the green zone. This is an important bullish signal indicating the presence of a medium-term upward movement. Given this, the local weakness of BTC can be interpreted as a healing correction. Most likely, with the opening of the American markets, the price will resume growth. Alternative scenario for the development of events Another scenario of the development of events, which is tied to fundamental factors, is also quite probable. Today, September 13, the statistics of the consumer price index for August will be published. In July, the figure fell to 8.5%, but the CPI forecast for August is 8.1%. On the one hand, I want to be sure that the publication of financial statements will not affect the price of BTC in any way, given that the market is preparing to raise the key rate by 75 basis points. The "smart money" of the crypto market is already ready for a further fall in inflation, and the expected outcome of the event is embedded in the price of Bitcoin. This means that the reaction of the market to the continued pace of falling inflation will be insignificant. Despite this, we can expect a local pullback of the price to the range of $20.5k–$21.1k. This may be due to the fixation of short-term positions by investors who bet on a further fall in inflation. The ultimate target of the current upward movement of Bitcoin can be considered the $24k–$25k range. Subsequently, the price will again begin to decline due to the pressure of miners and macro trends. It is likely that this will be the last drop in the formation of the "triple bottom" pattern, which will subsequently lead to a significant upward movement of BTC/USD to the $27k–$28k area. Will Bitcoin continue to be bullish? As of September 13, the further upward movement of Bitcoin is not in doubt for the following factors: correction of the DXY index, which has an inverse correlation with Bitcoin; the upward movement of the S&P 500, which has a direct correlation with Bitcoin; adaptation of the market to the publication of CPI reports and low volatility in the market. Given these factors, Bitcoin will continue its upward movement towards the upper $24k–$25k swing area within the current wide range of $17.7k–$25k. The pace of growth may slow down in the next few days due to the activation of bears near the $22.6k level, as well as a potential pullback on news of rising inflation. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 10:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321541
The Ethereum Has Located Just Above The Key Short-Term Technical Support

What Could Ethereum Be, Bullish Or Bearish?

InstaForex Analysis InstaForex Analysis 13.09.2022 13:50
Technical outlook: Ethereum pushed through the $1,790 highs over the weekend, rallying over 350 points from its recent swing low at around $1,423. The crypto might have completed a corrective rally and hit resistance just below $1,800. Also, note that the Fibonacci 0.618 retracement of the bearish drop is seen around $1,805, hence the token will face strong resistance if prices manage to reach there. Ethereum had earlier dropped from the $2,031 highs through the $1,423 lows, carving a meaningful downswing as seen on the 4H chart here. A pullback rally was expected thereafter, which could potentially reach up to $1,750 and the $1,800-10 area before prices turned lower again. The bulls have managed to produce a corrective wave and push prices up to about $1,800. The Ethereum bears might be keen to come back in control from here or after hitting $1,800-10 in the near term. Also, note that prices have tested the Elliott Channel resistance line from just below $1,800 and turned lower. The crypto is trading close to the resistance zone. A drag lower from here remains a high probability. Trading plan: Potential drop from the $1,750-1,800 zone against $2,050 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292573
Altcoins: Enjin Coin (ENJ) - What Is It? - A Deeper Look Into the Enjin Coin (ENJ) Platform

Altcoins: Enjin Coin (ENJ) - What Is It? - A Deeper Look Into the Enjin Coin (ENJ) Platform

Rebecca Duthie Rebecca Duthie 12.09.2022 15:00
Summary: What is The Enjin Coin Platform and how does it work? What makes the Enjin exchange unique. Enjin’s present and future price positions. The Enjin Platform Enjin is a startup that offers an ecosystem of linked, blockchain-based gaming devices. Enjin Coin is one of its projects. The Enjin Network, a social gaming platform where users can create websites and clans, communicate, and run virtual goods stores, is the company's main product. On the Ethereum blockchain, in-game objects can be tokenized using Enjin, according to game developers. The digital assets released through its platform are backed by Enjin Coin, an ERC-20 token, allowing for the purchase, sale, and exchange of goods with real-world value. Enjin Coin was first introduced in July 2017 and debuted in June 2018 on the Ethereum mainnet. A digital store of value called Enjin Coin (ENJ) is used to support the value of blockchain assets like non-fungible tokens (NFTs). The minting resource ENJ, which is locked inside NFTs and taken out of circulation, is present in every asset created using the Enjin Platform. Using ENJ to mint blockchain assets offers both developers and users a number of advantages: Adds a reserve value to them. Make certain of their transparency and scarcity. They are given instance liquidity. Offers use in games and apps. Anti-inflationary. Users of Enjin can "melt" their blockchain assets at any time to recover the ENJ value contained therein. Aiming to provide software products that make it simple for anybody to produce, trade, monetize, and sell with blockchain, the Enjin blockchain ecosystem intends to be open to all. Enjin, a company that was established in 2009, has its origins in the gaming sector. Over the course of ten years, the Enjin Network, the company's first product, attracted 20 million members. Following an initial coin offering (ICO), Enjin positioned itself as a top developer of the blockchain ecosystem in 2017, creating a range of software tools that make it simple for anybody to create, maintain, trade, distribute, and integrate blockchain assets. The Enjin ecosystem, which is built on top of an on-chain infrastructure, makes it possible for game developers and organizations of all sizes to employ tokenized digital assets as part of their strategy for customer acquisition, retention, engagement, and monetization. Enjin Coin (ENJ), a cryptocurrency that supports the value of blockchain assets, powers the Enjin ecosystem. What makes Enjin unique? In order to give in-game assets real-world liquidity, co-founder Radomski claims that Enjin Coin is unique in that any token created with Enjin Platform, the company's blockchain asset production platform that debuted in February 2020, is directly backed by ENJ. In a similar vein, Blagov has said that the business is centered on adoption and that he envisions a time when millions of players use digital goods backed by Enjin Coin without even being aware that such a thing exists. Enjin Coin creates new, distinct fungible or nonfungible ERC-1155 tokens using a set of smart contracts to which game creators send ENJ. These tokens can be exchanged for their underlying ENJ at any time or traded on the Enjin Marketplace, which debuted in September 2019. More ENJ is taken from the ecosystem as more custom tokens are created, making ENJ scarcer. Enjin Coin employs a number of both on-chain and off-chain operations, according to its whitepaper. A Trusted Platform contacts users' smart wallets when a transaction is completed within the Enjin ecosystem, and the website or game is updated right away with a placeholder or nontradable version of the digital asset until the transaction has been approved by the Ethereum blockchain. Present and future prices of The Enjin Coin network (ENJ) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ENJ does fall under this category. According to some analysts, the future price of The Enjin network (ENJ) could reach up to $7.6 by 2025 and could see a price of more than $9 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ENJ Price Chart Sources: finance.yahoo.com, coinmarketcap.com, cryptonewzs.com  
Altcoins: Landbox (LAND) - What Is It? - A Deeper Look Into the Landbox (LAND) Platform

Altcoins: Landbox (LAND) - What Is It? - A Deeper Look Into the Landbox (LAND) Platform

Rebecca Duthie Rebecca Duthie 13.09.2022 16:56
Summary: What is The Landbox Platform and how does it work? Uses of the Landbox exchange. Landbox’s present and future price positions. The Landbox platform A decentralized platform called Landbox (LAND) provides users with real-time updates and information on international real estate investing. The platform solves the real estate market problem that demands physical attendance, stability, security in transactions, inflexible transaction procedures, limited liquidity, a long gestation period, etc. To address these issues, Landbox has implemented three innovation systems: the Develop Relay Project (DRP), the Prop-Tech System, and the Crypto-Tech System. Landbox aims to create an ecosystem for information sharing where anyone can take part and safely and conveniently share real estate investment information, according to its whitepaper. The platform's DRP system links users to initiatives looking for funding for land compensation and replacement projects for urban growth. Blockchain technology is used by the prop-tech system to safeguard transactions, speed up real estate trading for users, and guarantee fair deals for traders. The system provides customers with low-cost advertising, a higher success rate, and compensation through a real estate Q&A service. In order to guarantee that customers receive LAND compensation and incentives for using the platform, the company also incorporates a crypto-tech system. Additionally, the platform has created an IT and blockchain solution for a real estate auction platform called Auction OK, which enables users to bid whenever and without restrictions for a suitable property at a reasonable price. Users of the Landbox platform can conduct transactions using LAND, the platform's native coin. The users can communicate within the site and with other users by using LAND. Additionally, users can access third-party projects they discovered on the site by paying with LAND tokens. ​​Business development can be enhanced by adopting "prop-tech," a digital solution fusing blockchain with real estate development. The first service item made available is "AuctionOK," a blockchain-based online real estate auction service. The major drawbacks of the current offline-based real estate auction system are addressed by this product. A patent application has been submitted to use blockchain to offer an online, non-personal real estate auction service. By lowering the entrance barrier for clients to participate in online real estate auctions, these platforms help this industry grow. Because it is the only platform to offer a comprehensive land management solution to farmers and ranchers, LandBox is a significant business. Farmers and ranchers can access land information, tools, and resources through the LandBox platform to assist them in making decisions regarding their land. Farmers and ranchers can manage their crops, cattle, and other assets on their land as well as sell or lease their land through the LandBox platform. Why Invest in Landbox (LAND) The ideal strategy to invest in LandBox (LAND) will depend on your unique situation, so there is no universally applicable solution to this query. However, the following are some potential benefits of purchasing LandBox (LAND): The business has a proven track record of achievement. The usage and management of land could be revolutionized by the LandBox (LAND) platform. The business has a solid group of seasoned professionals on staff that are dedicated to keeping their word. Users of the LandBox platform can buy and sell real estate. An auction system, a marketplace, and a property management system are just a few of the services available on the platform. In addition, LandBox has a referral program that pays members for bringing in new subscribers. Past and Present prices of The Landbox network (LAND) The price of LAND started high and reached its all time peak of more than $9 in late March of 2021. Since then the price dropped sharply and has remained low. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, Landbox (LAND) does fall under this category. LAND Price Chart Sources: finance.yahoo.com, coinbase.com, cryptolog.com
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

PoS Security Will Continue To Increase, The Ethereum In Downward Trend

InstaForex Analysis InstaForex Analysis 14.09.2022 10:10
Crypto Industry News: In an online interview, a security expert requesting anonymity explained that, unlike Proof-of-Work (PoW) based systems, systems based on Proof-of-Stake (PoS) inform the node validators in advance which blocks they will check, thus enabling them to plan attacks. The cybersecurity expert quoted by the portal is a blockchain developer working on a second layer PoS blockchain. The researcher explained that an exploit could theoretically be more easily exploited in the post-merge chain on the Ethereum network (any unethical or illegal attack that exploits vulnerabilities in an application, network or hardware. Typically an attack is carried out using software or code trying to take control of the system or steal data stored in the network): "If you control two consecutive blocks, you can run an exploit on block N and end it on block N + 1. (...). From an economic security point of view [this vulnerability] makes these attacks relatively easier to carry out." - he said. The expert said that while miners could also check two more blocks on PoW networks, it comes down to "pure luck" and does not give them time to plan an attack. However, he reassured ETH investors by saying: "PoS [still] has sufficient practical security [and] it doesn't really matter that in theory it is not as secure as PoW. It's still a very secure system," he added. In addition, "PoS security will [continue] to increase", as Ethereum developers are working on solutions that will mitigate the above-mentioned threat. The Merge on the Ethereum network is set to take place on September 15 at 2:30 UTC time (according to Blocknative's Ethereum Merge Countdown). The switch to PoS is expected to make the Ethereum network much less energy-intensive. Technical Market Outlook: The ETH/USD pair had reversed from the level of $1,785 aggressively and drop towards the level of $1,552. In this situation, the levels of $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,513 and $1,473. Please notice, the momentum is very weak and negative and the market conditions are now extremely oversold, so an intraday bounce is expected. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292687
Bitcoin Maintains A Steady Bullish Potential

Canada And The Protests, Cryptocurrencies Do Not Protect From Inflation

InstaForex Analysis InstaForex Analysis 14.09.2022 10:04
Crypto Industry News: In a Twitter post, Canadian Prime Minister Justin Trudeau made critical comments about the pro-crypto-platform for newly elected opposition leader Pierre Pollievere, writing: "We will also pay attention to questionable, reckless economic ideas. Telling people that they can get around inflation by investing in cryptocurrencies is not responsible leadership," he writes. In a separate televised speech, Trudeau reiterated these remarks, adding that "responsible leaders" should not encourage individuals to "invest their life savings in volatile cryptocurrencies." On September 10, Calgary-born politician Pierre Pollievere won 68.15% of the vote in the election for the next leader of the Conservative Party of Canada, the official opposition to the current Liberal Party of Justin Trudeau. Pollievere is a cryptocurrency advocate committed to transforming Canada into the "Blockchain Capital of the World", citing the positive outlook for job creation in the Web 3.0 sector and lower cost of accessing financial products as reasons to support this intention. In previous interviews, Pollievere argued that the government was "ruining the Canadian dollar" and that Canadians should consider other forms of money, such as crypto. Earlier this year, Canada declared a state of emergency after a convoy of truck drivers, dubbed the "Freedom Convoy," blocked downtown in the nation's capital, Ottawa. The group has advocated ending all coronavirus-related blocking measures and ending vaccine mandates. In response, the Trudeau government invoked the Crisis Act authorizing banks to freeze funds related to protesters' activities. Then an Ontario judge ordered the freezing of millions of Bitcoin donations to the group's wallet address. The RCMP, the Canadian federal police, also demanded that cryptocurrency exchanges freeze the wallets owned by protesters. In July 2022, inflation in Canada was 7.6%, the highest level in 40 years. Meanwhile, cryptocurrencies have not held up as a 'hedge against inflation' this year, and the overall market capitalization of digital assets has dropped more than 60% since January. Technical Market Outlook: The BTC/USD pair had made the local high at the level of $22,474 and then the market was smashed down after the inflation readings from the US beat the expectations. The Bearish Engulfing candlestick pattern was made at the H4 time frame chart and the bears broken below the $20k for a while. Currently, the market is consolidating around the level of $20,300, but the negative momentum supports the short-term bearish outlook towards the level of $18,640 again. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292683
Bitcoin Is Showing The Potential For The Further Downside Rotation

Predictions Of Bitcoin's Decline Become True

InstaForex Analysis InstaForex Analysis 14.09.2022 09:35
Yesterday, we suggested that bitcoin was about to fall. It turned out to be true, and the digital asset went down already in the middle of the day. Of course, a $2,200 plunge is not significant for the flagship cryptocurrency. The coin is still moving in a sideways channel between $18,500 and $24,350. Therefore, it is too early to say that the trend has resumed. Moreover, jitters were felt across markets yesterday, and they posted significant losses. Nevertheless, bitcoin is still moving below the descending trendline towards the lower limit of the sideways channel. Thus, we may assume that the price will test this mark, rebound four times, and break through it. If our assumptions are accurate, the downtrend will resume, and bitcoin will nosedive to $12,426. Yesterday, all eyes were on the US inflation report, which is now as important as the Federal Reserve's meeting. This is because all the regulator's further decisions on interest rates will be based on inflation results. The figures that came yesterday can be called neither disturbing nor shocking. If inflation accelerated, that would be shocking, whereas if it plunged by over 1%, this would cause turbulence in the market. However, annual inflation actually decreased by 0.2% in August, beating market expectations of a 0.2% rise. That is, nothing extraordinary happened. Still, demand for the dollar mounted yesterday, while risk appetite declined. It is clear why markets rushed to buy out the greenback: the pace of a slowdown in inflation decreased. Therefore, the hawkish Federal Reserve is likely to raise interest rates by 75 basis points at a meeting next week. It is commonly known that bitcoin, the stock market, and risk assets are usually bearish when the US central bank makes hawkish decisions on interest rates. In other words, markets started to price in the future rate decision yesterday. In this light, BTC could extend its fall, and a lot will now depend on the barriers of $18,500 and $17582. In the 24-hour time frame, the quote failed to break through $24,350 and $18,500 (Fibonacci retracement of 127.2%). Generally speaking, bitcoin is likely to trade in the sideways channel, and it remains to be seen for how long. Therefore, it would be wiser to wait for the price to leave the channel and then trade BTC. Should a breakout through $18,500 occur, the quote will head towards $12,426. Signals indicating a rebound from the trendline or upper/lower limit of the channel can be used as well. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 06:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321626
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

Bitcoin Price Simply Plunged! | The Merge Is Almost Here! | Check What Nobel Prize Winner Thinks Of The Leading Crypto!

Alex Kuptsikevich Alex Kuptsikevich 14.09.2022 09:17
Market picture Bitcoin collapsed 9.6% on Tuesday, ending the day near $20.2K, which remains on Wednesday morning. Ether is losing 6.4% overnight to $1610. The most significant altcoins took a heavy hit, losing between 4.6% (BNB) and 13% (Solana), but remain on the plus side after seven days. The bears in Bitcoin have asserted that they are in control. From the 50-day moving average level, BTCUSD experienced a substantial decline. This could bring back downward sentiment, as it did in August, for an extended period. However, it is too early to speculate on whether the June lows will be renewed. Pressure on all risky assets came after a hot US inflation report, which increased the likelihood of a more robust Fed rate hike next week and triggered the strongest sell-off in more than two years. News background Eugene Fama, 2013 Nobel Prize laureate in Economics, believes that bitcoin will have value as a means of payment. However, BTC's high volatility prevents it from being used for that purpose. We should add that this refers not only to the downside but also to upside moves. Ethereum has a much higher near-term growth potential than bitcoin, according to ConsenSys. ETH could become a savings vehicle following The Merge event, set to take place on September 15. Digital asset management platform Abra is launching Abra Bank, the first regulated crypto bank in the US, providing traditional services for cryptocurrencies. According to media reports, investment giant Fidelity Investments, which serves 34 million clients, plans to provide retail clients access to bitcoin trading on its brokerage platform.
Bitcoin traders play waiting game ahead of CPI data and the Merge

Bitcoin traders play waiting game ahead of CPI data and the Merge

FXStreet News FXStreet News 13.09.2022 02:28
Bitcoin briefly hit the $22,000 level before retreating to the $21,700 level in the recent correction. Bloomberg analysts believe traders are awaiting US inflation data and a successful completion of the Ethereum Merge, before making a move. Analysts predict a comeback in Bitcoin price, identified a bullish engulfing candle in the BTC price chart. Bitcoin price witnessed a slow recovery from its slump as investors waited for the release of CPI data. Analysts believe Bitcoin price could witness a reversal of its downtrend once there is a successful completion of the Merge. Bitcoin price rally cools off ahead of CPI data Bitcoin’s price scaled $22,000 briefly before retracing the $21,700 level. Analysts at Bloomberg believe Bitcon’s price trend can be explained by the anticipation surrounding the release of CPI data and the upcoming Merge. Ethereum’s Merge and the transition to proof-of-stake is a milestone event in the crypto ecosystem. The community is likely to witness a change in the way Ethereum is created and a massive scale up in the ETH blockchain’s adoption. A hard fork is likely, according to Proof-of-Work supporters, this could result in an airdrop of PoW tokens for PoS holders. The Merge and resulting consequences could therefore shift trader’s perspective in the crypto ecosystem. The release of CPI data and the Merge could therefore influence Bitcoin’s price. Inflation figures and the upgrade in the Ethereum ecosystem could result in volatility in Bitcoin price trend. Higher than expected US inflation could harden traders’ expectations and result in a decline in Bitcoin price. Similarly, any roadblock or challenge faced by the Ethereum blockchain could hurt trader sentiment and result in decrease in capital inflow to the crypto ecosystem. Analysts identifies bullish signal in BTC price chart Phoenix Ashes, a pseudonymous crypto analyst evaluated the Bitcoin price chart and noted that there is no bullish divergence in sight. The analyst commented on Bitcoin’s price chart in a recent tweet: BraveNewCoin liquid index for Bitcoin RektProof, a crypto trader argues that Bitcoin price could retrace lower, to the $18,600 level before its rally. The analyst has therefore identified two key areas of interest to open shorts. The $20,000 level and the $26,000 level are the two key points on Bitcoin’s price trend where the analyst expects a correction, therefore an opportunity for a short. Bitcoin Perpetual Futures
The Sandbox Is Available On GitHub, The Norway's CBDC  Based On Ethereum Technology

The Sandbox Is Available On GitHub, The Norway's CBDC Based On Ethereum Technology

InstaForex Analysis InstaForex Analysis 14.09.2022 11:52
Norway's central bank has released the source code for its central bank digital currency (CBDC) sandbox based on Ethereum technology. The sandbox is available on GitHub and allows testing basic token management use cases, including minting, burning, and transferring ERC-20 tokens, the Norges Bank's official CBDC partner Nahmii said in a blog post. In addition to using the appropriate smart contracts and access control, the Norges Bank sandbox also includes custom frontend and network monitoring tools, like BlockScout and Grafana. According to Nahmii, the front end also shows a filterable summary of transactions on the network. Nahmii stressed that the current version of the code is only privately accessible by people with the necessary credentials. The official announcement about plans to conduct CBDC testing came from Norges Bank in April 2021, stating that it expected to find a preferred solution by trailing different designs for two years. In the working paper released on November 2021, the central bank mentioned possible CBDC designs, including those based on blockchains like Ethereum, Bitcoin, and Bitcoin SV.     Relevance up to 09:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/321664
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Litecoin Remained Stable And Bitcoin Continues Downward Trend

InstaForex Analysis InstaForex Analysis 14.09.2022 13:16
Contrary to many expectations, Bitcoin successfully spent the second part of last week. The asset managed to defend the $18.5k–$19k level and resume its upward movement. The formation of the largest green candle in the last three months gave hope for a strong bullish momentum. Along with Bitcoin, stock indices grew, including the S&P 500 and NASDAQ. The US dollar index corrected after reaching another high, which gave high-risk assets time to rise. Analysts at State Street report that institutional investors remain confident in the prospects and value of cryptocurrencies. Their main focus is on Ethereum before the merger, which is why Bitcoin falls out of the investment agenda. According to Santiment, the local undervaluation of BTC provoked a strong rebound to the $22k level. The publication of CPI and the reaction of the crypto market Most factors indicated a high probability of BTC reaching a local high at $25k. The publication of the dynamics of the consumer price index put a bold dot on market expectations. The indicator decreased from 8.5% to 8.3%, with a forecast of a fall to 8.1%. The rate of decline in the inflation rate was below forecasts. The cryptocurrency market and Bitcoin reacted sharply negatively. As of September 14, of the top 30 cryptocurrencies, only Litecoin managed to maintain stability. The capitalization of the industry fell by 6.6% to $900 billion, and Bitcoin lost 9% in a few hours. As of 08:00 UTC, BTC/USD has consolidated near the $20.2k support level. Stock indices also fell, with the S&P 500 down 4.3% overnight, the biggest drop since June 2020. BTC/USD Technical analysis In technical terms, the cryptocurrency has reached a local support zone in the $19.8k–$20.2k area. Following the results of the past 24 hours, Bitcoin has formed a bearish engulfing pattern, which indicates a continuation of the downward trend. Selling volumes continue to grow, but technical metrics signal a local reversal. The RSI and Stochastics bounced off the 35–45 area and are starting to move flat, which indicates consolidation. Bullish scenario Bitcoin needs to hold above the $20k level in order to maintain the opportunity to resume the upward movement. If the round mark is maintained, the price of BTC will rush to the $20.4k–$20.9k resistance area. Successful passage of this segment and consolidation above $21k opens up prospects for movement to $22k before the cryptocurrency. Bitcoin will most likely be in the consolidation stage in the coming days after the negative news. Bearish scenario The shock state of the market will be replaced by awareness of the difficulties of fighting inflation. Most likely, this will lead to a decrease in investment activity in the cryptocurrency market and a reorientation of investors to USD products. In the shorter term, this will be reflected in the price movement towards the key support area of $19.5k–$19.9k. Given the effect of the ETH update, it can be assumed that this zone will be the final one before the reversal. But in case of aggravation of the bearish movement by additional negative factors, the price will meet support at the final level of $18.5k–$19k. Results Summing up the results of the CPI publication, we can say that the situation with liquidity and tightening of monetary policy will not change in the coming months. Powell stated that the Fed's actions would depend on the fact, which turned out to be undervalued alarming. Inflation is falling, but very slowly, and therefore an increase in the key rate by 75 basis points in September is a settled issue. In the coming weeks, the market will prepare for a rate hike, as well as adapt its investment strategy to the deterioration of the financial environment. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 10:00 2022-09-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321668
Eurozone Bank Lending Under Strain as Higher Rates Bite

Bank Of England Is Expected To Choose Between 50 and 75bp, Ethereum Arouses More And More Discussions As Merge Is Around The Bend

Craig Erlam Craig Erlam 14.09.2022 16:28
Stock markets have stabilized a little after Tuesday’s rout which saw risk assets pummelled across the board. There appears to have been a tendency in recent months to front-run certain releases in the hope that it’s going to prove to be the “pivot” moment when everything starts to look up, central banks can ease off the brake and risk assets will have bottomed. That certainly looks to have been the case over the last week as investors were lured into a false sense of security following the July CPI release only to be brought back down to earth with a bang with the August report. Unfortunately, 2022 has delivered some harsh truths when it comes to inflation and yesterday was the latest in that series. The run-up to the peak was far more aggressive and severe than anyone anticipated and, it would appear, the move back towards 2% is not going to be easy either. Markets are now fully pricing in at least a 75 basis point rate hike next week and almost a 40% chance of it being 100, a far cry from the 50 investors were hoping to see following that CPI data. Not only that, the policy rate is expected to peak at 4.25-4.5% early next year and if the data doesn’t improve soon, that will increase further. Despite the economy’s resilience to this point, a recession may still be on the cards as the tightening cycle potentially pushes it over the edge. BoE seen hiking by 75bps even as inflation eases UK inflation is back into single digits, with the headline rate falling back to 9.9% last month. That’s not exactly cause for celebration, nor is it likely the peak, but you have to take your wins where you can these days. And as we’ve already learned once this week, nasty inflation surprises are not yet a thing of the past, with the UK looking more susceptible to them than most. The data also won’t in all likelihood change the outcome of the BoE meeting next week, with 75 basis points now heavily backed but 50 also possible. The UK still has a major inflation problem and the central bank has a lot of catching up to do after dragging its feet for much of the year so far. A lot of talk and a little bit of action The FX intervention warnings are coming thick and fast since the release of the US CPI data on Tuesday, which saw the dollar surge and come within a whisker of 145 to the yen. The move reportedly prompted the BoJ to conduct a rate check overnight, widely seen as a precursor to intervening in the markets for the first time since 1998. Since then, the USDJPY pair has fallen well back towards 143 and we’ve been flooded with warnings of urgency and willingness to act. The line in the sand has been drawn and speculators may now feel that 145 is viewed in Japan as a step too far. With the Fed and BoJ meeting in the middle of next week – among many others – it promises to be a fascinating seven days. PBOC desperately trying to support the yuan It’s not just Japan that’s fretting about the weakness of its currency, the PBOC set the yuan fix at its strongest bias on record versus expectations. The move is the latest in a series of attempts to stabilise the currency against fierce headwinds while at the same time attempting to ease financial conditions at home. The road ahead is full of potholes for the world’s second-largest economy and confidence is continuing to deteriorate. Will the Ethereum Merge support crypto prices? Bitcoin was probably at the top of the list of instruments that got carried away at the prospect of fewer rate hikes ahead of the CPI data and it, therefore, got hit the hardest when the number dropped. Of course, there are other things happening in the crypto space right now with a huge focus on the imminent Ethereum Merge, with some suggesting that may have contributed to the rebound we’ve seen. Of course, that could equally compound the sell-off if it becomes a “buy the rumour, sell the fact” event. Time will tell. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A harsh lesson - MarketPulseMarketPulse
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

An Arrest Warrant For Kwon, Bitcoin Is Still In Downward Trend

InstaForex Analysis InstaForex Analysis 15.09.2022 09:46
Crypto Industry News: While the LUNC community is excited about the potential return to the scene of the Terra Luna Classic (LUNC) token, Terraform Labs founder Do Kwon is now facing an arrest warrant from South Korean authorities. A Seoul court issued an arrest warrant for Kwon and five others who are currently detained in Singapore. According to the prosecution in South Korea, the founder of Terra faces allegations of violating domestic capital markets law In May, what the Terra community originally suspected was supposed to be a FUD attack turned out to be one of the most devastating market crashes in cryptocurrency history, losing millions of assets from TerraUSD (UST) investors - now renamed TerraUSD Classic (USTC) - and Terra (LUNA) ), which was also renamed Luna Classic (LUNC). Stablecoin UST began to move away from the set US dollar, dropping to a record low of $ 0.006 in June. Outside of UST and LUNA, assets that once peaked at $ 119.18 in April plummeted to an all-time low of $ 0.0000009, pinning potential suicide hotlines to the project's Reddit community. On August 17, Kwon hired lawyers from a South Korean-based law firm just days after he said authorities had yet to contact him. Founder Terra also broke his silence on August 16 in an attempt to clear his name of various allegations. However, despite Kwon's efforts, community members continued to criticize CEO Terra, comparing his situation to the creator of Tornado Cash, who was arrested for writing a privacy code. Technical Market Outlook: The BTC/USD pair has been seen slowly moving lower as the recent low was made at the level of $19,623. The Pin Bar candlestick pattern was made at the H4 time frame chart at the lows, so the market is consolidating around the level of $20,120. The levels of $20,472 and $20,580 will now act as the technical resistance for bulls. The weak and negative momentum supports the short-term bearish outlook towards the level of $18,640 again. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292868
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

The ETH/USD Pair Tried To Rebound After The Decline And Wallet Selector In Opera Crypto

InstaForex Analysis InstaForex Analysis 15.09.2022 09:54
Crypto Industry News: The Opera Crypto browser, a special version of the popular Opera, has added support for crypto wallets such as MetaMask. All thanks to the Wallet Selector function. The Norwegian software company behind Opera intends to increase the usability of the Opera Crypto version for the Web3 application. Exchanges: Gate.io In January this year. The beta version of Opera Crypto appeared, and the company explained that it wanted to meet the growing interest of users who expect browsers to support the web3. Before Wallet Selector was introduced, the browser only supported the wallet built directly into the application. Now that is changing and it will be possible to pin third-party digital wallets with the latest feature. Wallet Selector in Opera Crypto will allow you to install extensions to your preferred crypto wallets - primarily to the most popular MetaMask, which is necessary if you use, for example, decentralized exchanges. The latest feature only extends the capabilities of the Opera Crypto browser. Currently, its users can count on e.g. Crypto Corner, a news hub with news from the world of cryptocurrencies, support for numerous dApp applications (decentralized) and convenient switching between wallets. The company emphasizes that Opera Crypto allows you to log into the dApp application without installing any extensions, and its own Opera Wallet wallet supports ETH, ERC-20 and ERC-721 tokens, as well as other blockchains. Technical Market Outlook: The ETH/USD pair has been seen trying to bounce after the drop to the level of $1,552. The market is still trading inside the ascending channel, so in this situation, the levels of $1,649, $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,513 and $1,473. Please notice, the momentum is very weak and negative and the market conditions are now extremely oversold, so an intraday bounce is expected. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292870
Stocks to keep an eye on in the second half of 2023

Energy Prices Remain Very Volatile, Activities In The Markets

Swissquote Bank Swissquote Bank 15.09.2022 10:31
US equities eked out small gains yesterday as dip buyers timidly came in, but risks remain tilted to the downside with the disappointing inflation figures, and the risk of the largest rail strike in the US since 1992. Crude Oil Prices Released yesterday, the US producer price data didn’t enchant investors. The headline figure fell for the second consecutive month but the core PPI strengthened, hinting that most of the easing in producer inflation was due to cheaper energy prices – which however remain very volatile, and which, more importantly carries a decent upside risk. The barrel of American crude flirted with the $90 mark yesterday, without however being able to clear resistance at this level. Energy companies gained despite news that Europeans are looking to raise $140 billion euros from energy companies to help households and businesses survive through winter. The situation on the stock market The S&P500 recover a part of losses yesterday, as Nasdaq gained 0.84%. But the risks remain clearly tilted to the downside. The US dollar remains relatively strong near the 20-year highs, the EURUSD consolidates below parity as gold slipped back below $1700 per ounce. The USDJPY retreated on expectation that the Bank of Japan (BoJ) could intervene to stop the yen’s depreciation. Ethereum trades around $1600 as Merger Upgrade is now imminent! Watch the full episode to find out more! 0:00 Intro0:24 Dip buyers return to a risky market2:31 US crude flirts with $90pb3:41 US rail strike risk weighs on sentiment4:55 Energy stocks rally despite EU measures to cope with crisis7:07 Gold under pressure7:50 BoJ could intervene to strengthen the yen8:52 Ethereum Merges today! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #PPI #inflation #rail #strike #USD #EUR #JPY #BoJ #rate #check #Gold #XAU #crude #oil #BP #XOM #Chevron #Coterra #windfall #taxes #energy #crisis #Bitcoin #Ethereum #Merge #update #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

Crypto: What Is EDX Markets? Mike McGlone Shares His Thoughts On Crypto Market And Ethereum's Transformation

Alex Kuptsikevich Alex Kuptsikevich 15.09.2022 09:22
Bitcoin won't give up $20K Bitcoin has lost 1.2% in the last 24 hours, trading at $20.1K. The plunge below a meaningful round level late Wednesday afternoon did not last long. Ethereum pulled down 0.3% to $1610 while the crypto community awaits the market's reaction to The Merge (move to PoS algorithm). We can describe sentiment across the crypto market as a cautious wait-and-see. Short-term Bitcoin momentum indicates that sellers wanted to swing the market at the end of the day yesterday and snap stop orders, taking advantage of a period of reduced liquidity on Wednesday. As we see, it failed, and BTCUSD returned precisely to where it started its local decline. However, the balance of power is now on the bears' side, as the global risk demand is suppressed, and critical technical levels (50- and 200-day MA, 200-week MA) are above the price. Read next: GDP Growth In New Zealand. Australia Unemployment Rate And Waiting For Initial Jobless Claims Report| FXMAG.COM News background Major US companies Charles Schwab, Citadel and Fidelity have announced the launch of digital asset exchange EDX Markets (EDXM), which will be available to retail and institutional investors. Another recalculation resulted in a 3.45% increase in bitcoin mining complexity to 32.05 trillion hashes, the highest in the network's history. Network service provider Cloudflare announced that its gateways support the upcoming transition of the Ethereum network to the Proof-of-Stake (PoS) consensus algorithm on September 15. Bloomberg Intelligence expert Mike McGlone believes the crypto market will begin a bullish trend after The Merge update. In his opinion, ETH's move to PoS will have a revolutionary impact on cryptocurrencies and the entire financial system. Changpeng Zhao, chief executive of cryptocurrency exchange Binance, said the EU's crypto-asset regulation principles could become the global standard for the entire industry.
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Ethereum’s Merge Is The Most Influential Events, The Change The Way In Verifies The Transactions

Saxo Bank Saxo Bank 15.09.2022 10:20
Summary:  This morning the second-largest cryptocurrency Ethereum successfully underwent its merge from proof-of-work to proof-of-stake. From consuming around 0.2% of the world’s electricity, Ethereum now consumes a fraction of that. This morning at around 06:44 AM UTC, the second-largest cryptocurrency Ethereum successfully underwent its merge. The shift from proof-of-work to proof-of-stake has fundamentally changed the way Ethereum validates transactions on its blockchain. Instead of massive computational power known as mining, the holders of Ether can verify Ethereum-based transactions by becoming a staker. Proof-of-stake consumes around 99.95% less energy compared to proof-of-work, which consumed the same amount of electricity as the whole country of Chile or equal to 0.2% of the total electricity consumption globally. As stakers are rewarded in newly issued crypto, the lower amount of required energy allows a lower issuance of new Ether, thereby minimizing the dilution of existing Ether holders. You can read more about the Ethereum merge from one of our earlier analysis to be found here. A new chapter not only for Ethereum but crypto in general In our view, Ethereum’s merge is one of the most influential events since the genesis block of Bitcoin in January 2009. It is a first for a cryptocurrency of that size to change its consensus framework. This was done without disrupting the network, which secures over $410bn of value across its own native crypto, stablecoins, tokens, and non-fungible tokens (NFTs). For the past years, the discussion of whether it is appropriate for proof-of-work to consume so much electricity has constantly intensified. Today, Ethereum steers away from this discussion once and for all, while it leaves Bitcoin in the dust. The latter consumes around 0.42% of the total electricity consumption globally equal to the country of Kazakhstan, so while this discussion is no longer valid for Ethereum, it is as valid for Bitcoin as it has ever been. Yet, although Ethereum’s successful merge stresses that it is possible to ditch proof-of-work for good, there is no plan for Bitcoin to adopt a proof-of-stake framework. Can Ethereum prove unbroken stability? Although Ethereum’s developers have worked for years to prepare its transition towards proof-of-stake, the latter has not yet proved long-term consistency in terms of decentralization and resistance under authentic conditions. The only way to adequately do this is without having severe issues in production under various distinct market conditions. This can only be sufficiently proven as time passes and that clock starts counting today. This is not a sprint but a marathon. Only time will tell whether Ethereum’s proof-of-stake framework can demonstrate stability in line with its former but mature proof-of-work framework.   Source: https://www.home.saxo/content/articles/cryptocurrencies/ethereum-merge-post-15092022
The Bitcoin Fall Will Likely Continue In The Future

The Main Topic Of The Cryptocurrencies Market: Bitcoin vs Ether And The Problem With The Ethereum Merge

InstaForex Analysis InstaForex Analysis 15.09.2022 12:13
ccording to market expectations, the transition of Ethereum from Proof-of-work to Proof-of-stake should take place today. Some say that this may lead to the fact that the second cryptocurrency will begin to take market share from BTC. Famous Bitcoin supporters have criticized the update and urge those who prefer the main cryptocurrency to prepare for war. Michael Saylor Criticizes "Misinformation" About BTC Energy Uses MicroStrategy Executive Chairman Michael Saylor argues that bitcoin mining can become a clean, profitable, and modern industry that generates hard currency for remote places in the developing world. Ahead of Ethereum's transition to proof-of-stake, Saylor spoke out against what he calls "misinformation and propaganda" about the environmental impact surrounding proof-of-work (PoW) BTC mining. On September 14, he shared a lengthy post on his Twitter account detailing his seven "high-level thoughts" on BTC mining and its impact on the environment. One of his key arguments was against PoW BTC mining being energy efficient. Instead, Saylor claims it is "the cleanest industrial use of electricity and is improving its energy efficiency at the fastest rate in any major industry." He backed up his argument with numbers taken from the Global Bitcoin Data Mining Review for the second quarter. The one was published in July by the Bitcoin Mining Council, a group of 45 companies that claim to represent 50.5% of the global network. Saylor emphasized: "Our metrics show ~59.5% of energy for bitcoin mining comes from sustainable sources and energy efficiency improved 46% YoY." An attempt to distract the authorities from the "inconvenient truth" Saylor's argument comes from the fact that the BTC mining industry has come under a lot of pressure due to its perceived environmental impact. This has even led some US states to take steps to ban cryptocurrency mining. Saylor claims that the continuous improvement of the network and the "relentless improvement in the semiconductors" make mining much more energy efficient than big tech companies like Google, Netflix or Facebook. "Approximately $4-5 billion in electricity is used to power & secure a network that is worth $420 billion as of today," Saylor said. "This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook, and 1-2 orders of magnitude less energy intensive than traditional 20th century industries like airlines, logistics, retail, hospitality, and agriculture." Saylor also stated that 99.92% of the world's carbon emissions come from industrial uses of energy other than bitcoin mining. Looking at the numbers, Saylor doesn't think environmentalists' arguments condemning PoW mining are fair. Rather, in his opinion, this is an attempt to "focus negative attention on Proof-of-Work mining" and distract authorities from the "inconvenient truth that Proof-of-Stake crypto assets are generally unregistered securities trading on unregulated exchanges." Saylor concludes by saying that all the negativity about PoW mining is detracting from the potential benefits for the world. "Bitcoin mining can bring a clean, profitable and modern industry that generates hard currency to remote locations in the developing world, connected only via satellite link." Jack Dorsey Questions Ethereum Merge Twitter co-founder Jack Dorsey also chose his side in the Bitcoin vs. Ethereum debate. Dorsey, a well-known supporter of the main cryptocurrency, questions the Ethereum merge. On Twitter, he posted a popular post by another popular Bitcoin maximalist, Scott Sullivan. In the very first line, Sullivan calls Ethereum a shitcoin and asks Bitcoin supporters to prepare for war. Sullivan believes that after the Ethereum merger, a narrative war will begin between Bitcoin and Ethereum. Sullivan believes that bitcoiners should be prepared to fight back in the event of such a war. While Sullivan's post is now a month old, Dorsey's timing is definitely surprising. What is the problem with the Ethereum merge? The Ethereum merge will change the Ethereum consensus mechanism from Proof-of-work to Proof-of-stake. Proof-of-Work, which is the consensus mechanism used by the top cryptocurrency, is considered to be extremely energy intensive. A recent White House report went so far as to consider a total ban on BTC mining. The Proof-of-stake model reduces PoW power consumption by 99%. However, Dorsey and Sullivan have serious questions about this model. Sullivan believes that PoS is based on the principle of disincentives. PoS cuts staked funds from validators in case of dishonest behavior. He also has claims that PoS is a permissionless system without rules that relies on subjective truth. He also believes that in PoS, money is power and the threat of centralization is a real problem. Sullivan and Dorsey point to OFAC's censorship of Tornado Cash as one such example. On the other hand, they believe that a PoW system is the answer that solves PoS problems. Dorsey is at odds with several influential figures because he believes Proof-of-work is the only correct system. Right now, Bitcoin dominance is at its lowest level in a very long time. Ethereum supporters believe that the second cryptocurrency has the potential to bypass Bitcoin after the merge. Dorsey's comments indicate that there is likely to be a major redistribution of power between the two largest cryptocurrencies. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321778
Binance Academy summarise year 2022 featuring The Merge, FTX and more

US Inflation Report And Its Impact On The Cryptocurrency Market

InstaForex Analysis InstaForex Analysis 15.09.2022 13:03
While the whole world is discussing the Ethereum Merge update, it is important to finally deal with the consequences of slowing down the rate of decline in the inflation rate. CPI reporting had a negative impact on the crypto market and caused a reduction in total capitalization to the level of $998 billion. However, this is only an impulsive reaction of investors to bad news. The consequences of this process in the medium term may be more disastrous. Inflation, the position of the Fed and the crypto market In the summer, Fed Chairman Jerome Powell said that the agency was changing its strategy for raising the key rate. The regulator abandoned the predictive indicator planning model and decided to focus on actual data. The Fed also said that it plans to end the current year with a neutral rate. Powell's statements removed the element of surprise, made Fed policy more transparent and gave investors hope. Markets took the theses of the head of the Fed as a transitional moment to the gradual easing of monetary policy. The peak of such sentiments occurred at the beginning of August, when the inflation rate fell above expectations. A glimmer of hope amid the endless fog of the liquidity crisis provoked other positive rumors. One of the initiators of the positive statements was Arthur Hayes, who believes that as we approach the November Senate elections, the markets will pump up the money supply. The slowdown in the rate of decline in the inflation rate put a bold dot on the likelihood of a change or easing of the Fed's current policy. After the publication of the CPI for August, an increase in the key rate by 75 basis points in September is a settled issue. In addition, the current order of movement of the price of Bitcoin and other financial instruments remains. New Rules for Bitcoin Price Movement Insufficient rates of inflation reduction are forcing the Fed to maintain the current level of influence on world markets. The withdrawal of liquidity and the increase in the key rate to strengthen the USD will continue. Considering this index, DXY remains the main financial instrument for the coming months. Bitcoin continues to maintain a close correlation with stock indices. Considering the macroeconomic situation, high-risk assets remain a single category of low-value investments at this stage. It follows that with active trading of BTC/USD, other cryptocurrencies and stock indices, the rule of mandatory DXY analysis remains. With a high degree of probability, when the US dollar index rises, Bitcoin and other cryptocurrencies go down or move flat. The publication of CPI reports caused opposite reactions from BTC and DXY. The inverse correlation of the two assets is obvious and should be a key element of active BTC/USD trading. BTC/USD Technical analysis Bitcoin managed to hold on to the $20.1k–$20.2k support area. The cryptocurrency successfully defended the $19.1k line following the results of yesterday's trading day, and moved to the stage of consolidation. In the coming days, we should expect a stabilization movement in the BTC/USD price without significant impulse movements. Technical metrics confirm this scenario. On the daily chart, the RSI index and the stochastic oscillator made a sharp reversal to the side. The MACD indicator has also completed an upward spurt and started moving in a flat direction. The publication of the CPI had a significant negative impact in both the short and medium term. Given the successful upgrade of Ethereum, we can soon expect a decrease in investment activity and a drop in the level of Bitcoin dominance. The main focus of the market will be on the altcoin, which may cause BTC to be undervalued. Demand and scarcity After a short consolidation, Bitcoin may resume its upward movement due to its growing scarcity in the market. Long-term investors continue to actively buy up BTC coins, reducing their volumes in the public domain. In addition, Bitcoin mining difficulty peaked at 32.045 trillion hashes. This means that mining a BTC block has never been so difficult. Accordingly, in the coming weeks, we can expect a local upward movement of Bitcoin to the $24k–$25k area due to its underestimation and growing scarcity. Medium-term prospects for Bitcoin Despite the rising inflation, the situation will begin to improve closer to winter. Most likely, the reason for this will be a significant reduction in liquidity and the aggravation of recession in the US economy. The combination of these factors will force the Fed to resume filling the markets with money, which will positively affect Bitcoin. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 10:00 2022-09-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321796
Ethereum (ETH/USD) Is More Likely To See A Pull Back

Ethereum Might Turn Bullish From The Current Price

InstaForex Analysis InstaForex Analysis 15.09.2022 14:16
Technical outlook: Ethereum rose through the $1,654 intraday high on Thursday before pulling back sharply through $1,580. The crypto is again gaining ground. It is seen to be trading close to $1,595 at this point in writing. A push above $1,654 will open the door for a further advance as the bulls target the $1,800-10 zone in the next few trading sessions. Ethereum has already carved a meaningful larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart. Furthermore, the counter-trend rally remained just shy of the Fibonacci 0.618 retracement seen around the $1,800-10 zone. The possibility remains for yet another attempt to test the $1,800 handle and also up to $1,900 before giving in to the bears. Ethereum might turn bullish from the current price action until $1,423 and $1,480 interim supports are in place. Prices have retraced from $1,790 through $1,560 in a corrective way and have found support around the Fibonacci 0.618 retracement of the previous rally between $1,480 and $1,790. A push above $1,675 will potentially confirm a test of the $1,800 handle. Trading plan: A potential rally back towards $1,800-10 against $1,423 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292959
Reserve Bank Of Australia (RBA) And Employment Report, Crypto: The Merge As A Stimulant?

Reserve Bank Of Australia (RBA) And Employment Report, Crypto: The Merge As A Stimulant?

Craig Erlam Craig Erlam 15.09.2022 16:26
Stock markets are a bit mixed on Thursday following a rollercoaster week in the run-up to, and aftermath of, the US inflation report. Safe to say, investors got ahead of themselves in a desperate attempt to board the peak inflation train early. The collapse on Tuesday – carrying into Wednesday in Asia and Europe – looked quite severe on the face of it but it was simply an unwinding of positions built on the anticipation of a good set of numbers in the days leading up to it. While the Fed is now almost certain to hike by 75 basis points next week and more in the months that follow than previously anticipated, the view still seems to be that Tuesday was a setback rather than a game changer. Confidence that we are at or near peak inflation is dented but not broken and this week serves as a reminder that as was the case on the way up, the path back to 2% will likely be littered with nasty surprises. RBA will likely welcome labour market report This will likely be the case for most central banks, not just the Fed, with the RBA seen to be in the early stages of its pivot towards slower tightening. After hiking rates by 50bps, markets are now pricing in a 25bps hike next month although as we’ve seen so often this year, that could quickly change with the data. The labour market figures today could support such a move, as employment rose a little less than expected while participation also rose, unexpectedly lifting the unemployment rate to 3.5%. The Aussie dollar rose after the release but has since given the bulk of that back. PBOC leaves MLF unchanged and supports CNY The PBOC’s battle to support the yuan continued on Thursday as it left the 1-year MLF rate unchanged at 2.75% and set a stronger fix on the currency. The result was around 200 billion yuan being withdrawn from the banking system, with the central bank stating that it would “keep banking system liquidity reasonably ample”. The dual threat of a slowing economy and tumbling currency against the dollar is posing quite the challenge for the central bank which is continuing to try and push back against both, with limited success. Yen steady amid intervention warnings The yen remains a key focus after a slew of intervention commentary yesterday which accompanied reports of a rate check by the BoJ. While officials have been keen to state that no warning of intervention will be forthcoming, nor perhaps even confirmation of it, the line in the sand around 145 against the dollar appears to have been drawn. The message was loud and clear and now it’s just a case of whether markets will respect it. That’s not always the case and we could see its resolve tested after 24 years without such action. Will it be a “sell the fact” event? Bitcoin has stabilised once more around $20,000 after Tuesday’s bruising encounter with the US inflation data. As we saw elsewhere, the cryptocurrency had rallied in anticipation of something more favourable but it wasn’t to be. With that now behind us, the question will become how the crypto space reacts to the Ethereum Merge. It’s been a long time in the making and the question on traders’ lips right now is will it be the next bullish catalyst for cryptos or a “sell the fact” event. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Oil steady, gold vulnerable - MarketPulseMarketPulse
Ed Moya (Oanda) Comments On US Data, Crypto And More

Ed Moya (Oanda) Comments On US Data, Crypto And More

Ed Moya Ed Moya 15.09.2022 22:50
US stocks edged lower as investors stare at a weakening economy that will get tested by an inflation-fighting Fed. ​ The latest round of data suggests the Fed can stick to aggressive rate hikes as the labor market remains strong and as the economy slowly softens. ​ The risks of the Fed sending the economy into a severe recession are growing but right now the data doesn’t support that argument. ​ The consumer is still spending and apparently is not having any trouble finding work. The Nasdaq was led lower by Adobe shares, which were under pressure after announcing a deal to acquire software company Figma in a deal worth around $20 billion. ​ Another severe market rout was avoided after railroad companies and unions reached a tentative deal to avoid a strike. ​ This agreement saved the economy from further intensifying inflationary pressures and avoided the US economy a daily economic hit of about $2 billion. US Data The US retail sales report was not as good as the headline number might indicate. The headline advance reading posted a 0.3% gain in August, much higher than the consensus estimate for a decline of 0.1%. The control group which feeds into GDP was flat. Overall, the sales report suggests the consumer is doing just fine. Auto sales climbed 2.8%, while retail and food services rose 0.3%. ​ Furniture sales dropped 1.3%, while gasoline stations saw sales drop 4.2%. ​ The two Fed regional surveys posted significant declines with both prices paid and received, which is welcome news for the economy. ​ The Empire manufacturing survey delivered another decline but was much better-than-expected, while the Philly Fed business outlook returned to negative territory. ​ Cryptos Today is all about ethereum and its historic merge. The Merge paves the way for the world’s second-largest cryptocurrency to become more energy-efficient and to operate on a ‘proof-of-stake’ network. ​ Crypto traders are often used to ‘sell the event’ reactions in the cryptoverse and this merge proved to be another example of just that. ​ Ethereum is down significantly and volatility should remain elevated into the weekend. ​ The update went as planned and did not lead to any major outages. ​ Despite today’s Merge success, ethereum still remains vulnerable in the short-term to further momentum selling, especially as traders await next week’s FOMC decision. Significant weakness with tech stocks is also weighing on cryptos in general as bitcoin has fallen below the $20,000 level. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stocks lower on Fed fears, mixed US data, ethereum merge Success - MarketPulseMarketPulse
Binance Academy: Behavioral biases and avoiding them

Crypto - Altcoins: What Can We Expect From (ADA) Cardano Price?

FXStreet News FXStreet News 15.09.2022 16:27
Cardano price saw bulls clawing back gains after the sucker-punch price received on Tuesday. ADA price paired back losses and booked over 3% gains. Expect a drop back to the lower end, with pressure building on the support at $0.46 and a possible leg lower to $0.42. Cardano price sees investors focusing on retail numbers out of the US today, as markets try to get their heads around a myriad of moving elements – from the EU measures to tackle the energy crisis, to Japan where the central bank is near to intervening in forex markets. The risk for Cardano price is that a rejection from the monthly pivot could trigger a further drop lower. ADA price could drop 10% if the floor gives way Cardano price is seeing traders and investors struggle with what to do with the fast-moving components rattling the markets. After the big drop on Tuesday, it was quite normal and expected to see some buying, which triggered a neat recovery, but not a full paring back of the incurred losses. Instead, price action took another leg lower this morning during the ASIA PAC session as Asian traders had difficulties with China’s easing measures, and in the meantime, the BoJ (Bank of Japan) is set to trigger a bulk market intervention to support the falling yen. ADA price is thus likely to get caught between the monthly pivot at $0.488 and the floor at $0.460, which looks to be the bottom for this week. Risk to the downside comes with equity markets set up for another slide should retail sales remain strong. That would be perceived as a key number as it will count as confirmation that the Fed will step up its game and tighten even more, with the effect on ADA of triggering a drop to $0.4200. ADA/USD Daily chart Alternatively, sentiment could start to change as the US session kicks in, as equities are mildly on the front foot and could pull cryptocurrencies up along with them. Again watch out for the 55-day Simple Moving Average and the area around $0.5000 where bulls already burnt their fingers once this week, as a sharp rally would be needed to trade clear enough away from the region to see it in the rear view mirror. Rather look for a close near $0.5200 as confirmation to withstand any fades or pullbacks that might occur by Friday.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

China Treats Litecoin As An Asset And Bitcoin Is Still Banned. BTC/USD Is In Down Trend

InstaForex Analysis InstaForex Analysis 16.09.2022 08:47
Crypto Industry News: Beijing's First People's Court has ruled that interested investors can trade cryptocurrencies. However, they should only be treated as virtual assets and not act as currency. The ruling was made in a case regarding a crypto loan in litecoins (LTC) with a promise of repayment of interest in digital currencies. The specificity of the case indicates that in 2015 Zhai Wenjie loaned 50,000 litecoins to his friend Ding Hao. Zhai Wenjie stated that Ding Hao had promised to pay 1,000 litecoins as interest per month, which was denied by the defendant. The court recognized the existing Chinese ban on cryptocurrency trading and its chairman noted that Litecoin cannot be treated as a currency. This is because digital assets are not issued by a monetary authority and are characterized by a lack of support from the legal and financial framework. "According to the existing regulations and administrative arrangements, our country denies the monetary attributes of the virtual currency and prohibits its circulation as a means of payment. However, the cryptocurrency itself is property protected by law, "the court ruled. Interestingly, Bitcoin is still banned in China. A Chinese court decided to take a separate approach to Litecoin, citing the lack of legislation regarding its perception as an illegal resource. Therefore, the judge ruled in favor of the victim and ordered the accused to return litecoins to him. The ruling in the case reflects a recent decision by a Chaoyang-based court that banned payment of wages in Tether (USDT) precisely because of the prohibition of digital asset trading. It's worth noting that different Chinese county courts have issued different rulings regarding the trading and handling of cryptocurrencies. For example, in May this year, the Shanghai People's High Court ruled that Bitcoin has "some economic value" and is protected by the country's laws. Interestingly, despite existing bans, new data shows that more and more Chinese citizens continue to trade in various assets. The country currently ranks tenth in the world for cryptocurrency adoption. Technical Market Outlook: The BTC/USD pair keeps making the lower lows and lower highs on the H4 time frame chart. The recent low was made at the level of $19,510, but no sell-off was triggered yet. The Pin Bar candlestick pattern was made at the H4 time frame chart at the lows, so the market is consolidating around the level of $20,120. The levels of $20,472 and $20,580 will now act as the technical resistance for bulls. The weak and negative momentum supports the short-term bearish outlook towards the level of $18,640 again. Weekly Pivot Points: WR3 - $23,418 WR2 - $22,624 WR1 - $22,146 Weekly Pivot - $21,821 WS1 - $21,352 WS2 - $21,035 WS3 - $20,241 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293051
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

The Ethereum Market Remains Under Strong Bearish Pressure

InstaForex Analysis InstaForex Analysis 16.09.2022 10:31
Crypto Industry News: Megadeth, pioneers of thrash metal, continue their adventure with Web3. They prepared "Rattleheads", a collection of digital art whose main theme is the group's mascot, Vic Rattlehead. Megadeth and NFT Produced by Five To One Collective in collaboration with Upper Echelon Studios, the collection is inspired by the band's long-time fan club, Cyber Army, and the mascot, Vicio Rattlehead, a ghoulish character that features on most of the band's album covers. The project is to be expanded with additional tools that will be revealed in the near future. Megadeth leader Dave Mustaine emphasized in his statement that his group has always been a pioneer - and not just in terms of art: "Our first album set the standard for thrash metal. We were the first band to have a website. The Cyber Army Club was founded in 1994. Our 2016 album" Dystopia "featured VR descriptions. And now, as technology advances. Web3 and its ability to connect us directly with our fans - this moment is perfect for Megadeth. It is the ultimate bond with our community (...) "- he wrote. It is worth recalling that the band's first approach to the NFT market took place in 2021. Then the NFT project "Vic Rattlehead: Genesis" appeared on the market, containing the band's logo and its iconic mascot rotating in opposite directions for six seconds. Technical Market Outlook: The ETH/USD pair is trading out of the channel and the bearish pressure is still high. The market is slowly approaching the last mont's low seen at the level of $1,423. The levels of $1,513, $1,649, $1,689 and $1,722 will now act as the technical resistance for bulls. The next target for bears is seen at the level of $1,424 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293053
Crypto: The Merge - 45% Nodes Managed By Two Addresses!? Paolo Ardoino (Bitmex, Tether) Comments On ETH's PoS

Crypto: The Merge - 45% Nodes Managed By Two Addresses!? Paolo Ardoino (Bitmex, Tether) Comments On ETH's PoS

Alex Kuptsikevich Alex Kuptsikevich 16.09.2022 08:57
Market picture Bitcoin has lost 1.6% over the last 24 hours to $19,777 amid renewed pressure on risk-sensitive assets. BTC remains just under the critical $20K round level, where it got support for the past three months. Ethereum lost the speculative support it received before the move to PoS. Over the last day, Ether lost 8.6%, more than three times more than the 2.6% reduction in overall crypto capitalisation. Weakness of this kind is an almost inevitable consequence of a previous period of overperformance, much of the gains of which have yet to be erased. Trading at $1500, Ether is now almost 50% above the area of the June-July lows, while Bitcoin has rolled back to its lows of that period. News background Tether and Bitfinex technical director Paolo Ardoino said the move to PoS will not help the second cryptocurrency catch up to Bitcoin. The Merge will not lower transaction fees or make ETH more decentralised, nor will it increase network capacity. Ethereum cannot compete with BTC as a form of money because it has no maximum issue limit. According to Santiment, more than 45% of Ethereum nodes launched after The Merge update are managed by just two addresses, raising concerns crypto community concerns about centralisation. Read next: Asia: Chinese Retail Sales Rose | Does Weaker CNH (Reminbi) Support Chinese Economy? | FXMAG.COM According to Chainalysis, developing countries are leading the world in cryptocurrency adoption. Vietnam and the Philippines lead the rankings due to the popularity of cryptocurrency and NFT gaming projects. Of the developed countries, only the US and China are in the top 10, ranking fifth and 10th, respectively.
4 Cryptocurrencies To Keep A Watch On: Immutable (IMX), Smooth Love Potion (SLP), Chainlink (LINK), Enjin Coin (ENJ)

4 Cryptocurrencies To Keep A Watch On: Immutable (IMX), Smooth Love Potion (SLP), Chainlink (LINK), Enjin Coin (ENJ)

Rebecca Duthie Rebecca Duthie 16.09.2022 18:57
Summary: A summary of IMX, SLP, LINK, ENJ, Proof of work, proof of stake, proof-of-history zk-rollups, NFTs, DeFi. Th Immutable (IMX) platform As the first layer-two scaling option for NFTs on Ethereum, Immutable X places itself in this space. Immutable X claims that its blockchain overcomes Ethereum's drawbacks, including its low scalability, subpar user experience, lack of liquidity, and delayed development experience. Instead, users get to experience $0 gas costs for minting and trading NFTs, instant trading, and vast scalability without compromising asset or user security. Immutable X uses STARK zk-rollups, a technology that Vitalik Buterin believes Ethereum is "all-in" on, to do that. One advantage of Immutable X is that it is one of the first layer-two systems to use zk-rollups and to concentrate just on NFTs. The project is at the forefront of advancement in the Ethereum ecosystem as zk-rollups gain popularity as a scaling option. If Immutable X can accomplish its projected transaction speed of more than 9,000 tps, it stands a decent possibility of becoming the standard "NFT blockchain" in the future. Read more: Altcoins: Immutable X (IMX) - What Is It? - A Deeper Look Into the Immutable X (IMX) Platform  The Smooth Love Potion (SLP) platform By taking part in the Axie Infinity game, players can acquire Smooth Love Potion (SLP) tokens. Experience points are replaced by this digital asset. SLP are ERC-20 tokens that may be used to create new Axies, or virtual pets. Beginning at 100 SLP, the cost of breeding rises steadily to 200 SLP for the second breed, 300 SLP for the third, 500 SLP for the fourth, 800 SLP for the fifth, and 1,300 SLP for the sixth. The seventh breed of Axies costs 2,100 SLP and can only be produced a maximum of seven times. This cap is in place to guard against market hyperinflation. SLP is particularly distinctive in that it is one of the select few in-game tokens that Binance has listed in its Innovation Zone. For assets "that are anticipated to have higher volatility and offer a larger risk than other tokens," the exchange has set aside this trading category. Read more: Altcoins: Smooth Love Potion (SLP) - What Is It? - A Deeper Look Into the Smooth Love Potion (SLP) Platform  The Chainlink (LINK) platform Chainlink, a blockchain abstraction layer that was established in 2017, enables globally interconnected smart contracts. Chainlink, a decentralized oracle network, enables blockchains to interact securely with external data feeds, events, and payment methods while providing the crucial off-chain information required by sophisticated smart contracts, which are quickly taking over as the primary type of digital contract. A sizable open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others powers the Chainlink Network. The firm is committed to ensuring that all node operators and users who want to contribute to the network are assured decentralized involvement. Chainlink, a decentralized network, enables users to operate nodes and generate income from the vital data infrastructure necessary for the operation of blockchains. Chainlink powers a sizable number of decentralized Price Feed oracle networks that are already in operation and safeguard billions of dollars in value for top DeFi applications like Synthetix, Aave, Compound, and others. Read more: Altcoins: Chainlink (LINK) - What Is It? - A Deeper Look Into the Chainlink (LINK) Platform  The Enjin (ENJ) platform Enjin is a startup that offers an ecosystem of linked, blockchain-based gaming devices. Enjin Coin is one of its projects. The Enjin Network, a social gaming platform where users can create websites and clans, communicate, and run virtual goods stores, is the company's main product. On the Ethereum blockchain, in-game objects can be tokenized using Enjin, according to game developers. The digital assets released through its platform are backed by Enjin Coin, an ERC-20 token, allowing for the purchase, sale, and exchange of goods with real-world value. In order to give in-game assets real-world liquidity, co-founder Radomski claims that Enjin Coin is unique in that any token created with Enjin Platform, the company's blockchain asset production platform that debuted in February 2020, is directly backed by ENJ. In a similar vein, Blagov has said that the business is centered on adoption and that he envisions a time when millions of players use digital goods backed by Enjin Coin without even being aware that such a thing exists. Read more: Altcoins: Enjin Coin (ENJ) - What Is It? - A Deeper Look Into the Enjin Coin (ENJ) Platform  Sources: fxmag.com
Bullish Dollar Sentiment Prevails Amid CFTC Report and Rate Hike Expectations

Ed Moya (Oanda) Comments On FedEx, Oil, Gold And Crypto

Ed Moya Ed Moya 16.09.2022 23:32
US stocks were dealt another blow after FedEx warned that the economy was about to enter a ‘worldwide recession.’ Wall Street was already nervous that the Fed’s inflation fighting mission was going to trigger a recession, but now it seems corporate America is already showing signs that the economy is slowing. FedEx FedEx shares plunged the most in forty years after they had withdrawn their guidance.  A weakening economy and rising competition from Amazon complicate how FedEx will perform this holiday season.  FedEx might have a couple tough quarters ahead of it, but this should not be the story that indicates doom and gloom times are here to stay. Oil This was a bad week for oil prices as global growth fears appear they won’t be going away anytime soon.  It is just bad news on the crude demand side from both the US and Europe, while skepticism remains elevated that China will have a smooth reopening. Baker Hughes reported that the oil rig count rose 8 to 599 rigs, but that is still shy of pre-pandemic levels. The oil market is losing its tightness and that will likely continue if central banks worldwide remain aggressive with fighting inflation. Next week, energy traders will pay close attention to both the FOMC decision and China’s detailed trade data that might show demand for energy is weakening. Gold The lead up to the FOMC meeting has been very bearish for gold.  Gold is stabilizing here as selling pressure has exhausted itself and will likely need to wait for the FOMC decision. The bond market selloff might be showing signs of slowing down, but expectations are growing for the Fed and all the other major central banks to remain aggressive with fighting inflation.  Gold’s fate will likely be determined by the FOMC decision, which means if the Fed signals they are stepping up their fight against inflation further pain could be ahead for the precious metal. Cryptos Bitcoin is lower following the selloff in equities as risk appetite remains in hiding.  Adding to crypto jitters was the release from the White House that tried to outline a framework on regulating cryptos.  It’s been six months since President Biden’s executive on cryptocurrencies, but this framework hardly puts anything major in motion.  New goals for the SEC and CFTC were expected, while the proposed regulation on eliminating illegal activity fell short of complete guidelines on how that will be achieved.  The Treasury Department will lead the charge in finding a justification for a digital dollar, but that still seems like it is many years away from seriously happening. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. US Close: Stocks remain in doom and gloom mode after FedEx Warning, Oil's bad week, Gold steadies, Bitcoin follows equities lower - MarketPulseMarketPulse
Cryptocurrencies A Better Version Of Payment For Travel

Cryptocurrencies A Better Version Of Payment For Travel

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.09.2022 08:47
It happened seamlessly. On Thursday, The Merge fused Ethereum’s PoS testnets, cutting the chain’s energy consumption by a whopping 99.95%. Ethereum fans joined the online watch party, and even Google celebrated the event with a live countdown on its site. We honour the crypto milestone with an ETH giveaway, and take our hats off to everyone who made The Merge happen. Markets Spotlight Note: Market prices captured in US$ at the time of reading. Explore more on Crypto‌.com/Price. News Snaps Starbucks will offer an NFT-based loyalty program. CoinDesk reports that Starbucks recently announced an NFT loyalty program running on the Polygon network. Customers will be able to purchase collectible stamps in NFT form that offer immersive experiences and other benefits. DBS, the largest bank in Southeast Asia, set to enter the Metaverse. Singapore bank DBS is set to explore the Metaverse. DBS announced a partnership with The Sandbox, and its aim is “to create DBS Better World, an interactive Metaverse experience showcasing the importance of building a better, more sustainable world, and inviting others to come alongside.” Check out Bitcoin.com for more. The Merge just made Ethereum a whole lot greener. With the recent successful merge, Ethereum is now much more energy efficient. Moving from Proof of Work to Proof of Stake has reduced Ethereum’s blockchain energy consumption over 99.95%. Vitalik Buterin tweeted that it would reduce worldwide electricity consumption by 0.2%. Visit CNN for the full story.   GameFi experiences a 135% jump in fundraising for the month of August. The crypto market as a whole may still be facing a downtrend, but interest in Web3 games and Metaverse projects continues strong. Over US$748 million in funds have been raised in the month of August, Cointelegraph reports. NFT collection Doodles raises US$54M. The well-known NFT collection Doodles recently received US$54 million in funding and a US$704 million valuation. Doodles plans to use this investment to focus on monetising its intellectual property globally in order to scale its growth. See CoinDesk for more details. What’s Ahead Keep an eye out for the Vasil hard fork for Cardano that will take place on 22 September. If the upgrade is successful, it will improve Cardano’s scalability and lower the transaction costs on its network. NFT Spotlight From “Making Dollars” in 1988 to perhaps “Mining Dogecoin” today, Erick Sermon of iconic hip-hop group EPMD launched an NFT collection with renowned Canadian-Indigenous artist, record producer, engineer, and longtime collaborator David “Gordo” Strickland. The hip-hop luminaries also donated a portion of the proceeds from the collection to an organisation that supports Indigenous residential school survivors. “Gordo was at the studio doing these abstract hip-hop legends paintings on his down time. […] He was doing paintings of all of us, and Snoop, and Dre, and Redman and so on. […] I let him do his thing and magic happened.” Sermon, on the origins of his collection Read Crypto.com’s full interview with Sermon and Gordo or browse the collection. Product Picks Six More Tokens Added to Recurring Buy ZRX, GNO, GRT, NEO, and more have been added to the growing list of over 70 supported tokens for Recurring Buy. Crypto.com App users can now access the Dollar Cost Averaging (DCA) investment strategy for more tokens and to automate purchases, with as little as US$15.  DeFi Wallet Now Supports Nine Languages  Users can now easily and securely manage 700+ tokens across 20+ blockchains, seamlessly swap tokens, earn token rewards, manage their NFTs, and connect with the most popular dApps in seconds in their preferred language.  US$10,000 Prize Pool for the ETH Merge Trading Competition To celebrate this historic event, we’re giving Crypto.com App and Exchange users an opportunity to earn a share of US$10,000 in ETH. Competition ends 30 September. Join now on the Crypto.com App and Exchange. Crypto Level Up What is a DAO? Decentralised autonomous organisations (DAOs) embrace everything that traditional organisations don’t. Here are the values that define a DAO. Flat. No CEOs. No executive committee. No hierarchy. All DAO-related decisions are made collectively by the stakeholders or members of the DAO. Decentralised. A DAO uses smart contracts, not a third party, for execution. But sometimes, members of a DAO may decide to get outside help to fix issues like bugs or updates. Transparent. A DAO hides no secrets. Anyone is welcome to inspect the public smart contract that manages its operations and the full transaction history on the blockchain. Accessible. From chef to bioscientist and yourself, anyone can join a DAO — as long as they fulfil the predetermined requirements, such as holding its governance token.Democratic. Once the voting is done, and a decision made, no single party can veto it. Learn more about DAOs and how they work Crypto IRL Happiness often comes in pairs. Cheers, @Rutger_B79. We hope you enjoyed the moment with your pal, and the Crypto.com Icy White Visa Card, too, of course! Featured Merchant Juan Otero, CEO of Travala.com, tells us how crypto is changing the game of international travel. What can travellers buy with CRO on your site? Travellers can use CRO to book 2,200,000-plus accommodations, flights with over 600 airlines, and more than 400,000 activities across 230 countries and territories. Every booking also receives a 2% giveback in $AVA, Travala.com’s travel utility token, which can be increased to up to 10% by becoming a Smart member. Poor foreign exchange rates are the bane of international travel — can crypto do away with them? Absolutely — the borderless nature of crypto makes it perfect for international travel. When you book online with foreign travel providers, you’re usually hit with foreign exchange fees in addition to credit card processing fees, which on average, add up to around 3%. By booking travel with crypto, both these fees are avoided. The only fee you pay is the network fee, which in most cases is just a few cents. What’s the swankiest trip someone has paid for in crypto on your site? Our luxury travel division, Concierge.io, has organised some incredible recent experiences for crypto enthusiasts — and when we say experiences, we don’t just mean flights and hotels. We’re the exclusive payment provider for Rare Vibes AVClub when it comes to their events in Miami. Earlier in April, RVAC’s BTC Miami Event was the talk of the town, with musical acts such as Diplo, ATrak, Bassjackers, and several others at MAPS Backlot in Wynwood. Have you paid for a flight or hotel in crypto yet? Where to?Of course! My most recent crypto booking was for flights and accommodation for the upcoming Singapore Grand Prix. My co-founder, Steve, and I will be catching up with the previous Travel Tiger Club giveaway winner in June. Decoder Bagholders are individuals who do not sell their assets, even if the price drops significantly or ends up at zero. There are many possible reasons for an investor to become a bagholder. For one, sometimes investors believe so strongly in a project that they are unaffected by short-term price action.  Another reason is that they missed out on the crash, with the asset price dropping so quickly they didn’t have time to sell it. Finally, some investors become bagholders because they became disinterested in a project and forgot about their investment. Once they do check, they feel there is no point in selling, as it is worth a fraction of their initial investment. This Week in Crypto History Vitalik Buterin in Time magazine’s top 100 most influential people. This time last year, Ethereum co-founder Vitalik Buterin was featured as one of the top 100 most influential people of 2021. Buterin ranked among the likes of Elon Musk, Alexis Ohanian, and Billie Eilish. That’s it for this week’s Snapshot. Want more? Head over to our Insta feed for bite-sized crypto lessons.    
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Disney On NFT Market, Starbucks brewing NFT Customer Loyalty Platform And More

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.09.2022 08:57
Disney is exploring and developing plans for the metaverse. ConsenSys launches free NFTs to commemorate Ethereum’s Merge. Gods Unchained is teaming up with GameStop. Key Takeaways Disney revealed that it is continuing to explore and develop plans for the metaverse. The company has also been active in the NFT space. Collaborating with NFT marketplace VeVe, it launched the “Golden Moments” collection, which includes Spiderman, Mickey Mouse, and more. “Regenesis”, an NFT collection launched by ConsenSys to commemorate Ethereum’s Merge, is available to claim. The NFT is free to mint, and the claim window will be open for 72 hours starting from the day of The Merge. Gods Unchained is teaming up with GameStop to welcome GameStop customers into the card game’s ecosystem. GameStop PowerUp Pro members will receive a unique code that can be used to redeem Gods Unchained expansion packs containing NFT trading cards. X2Y2 recorded a -17% decrease in sales and a -6% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +51% and its transaction count also increased +38%. The total market cap for GameFi tokens now stands at US$8.43 billion, down -6% from last week. Crypto.com NFT in the Spotlight Luca De Massis is dropping his very first PFP collection, “TMK”, on Crypto.com NFT. It includes 3,000 NFTs with over 250 traits and unique moods. TMKs are not only highly intelligent but also very sociable, likeable, and fiercely protective of humans. “7 Paintings of Heaven and The Lost Artwork” is an art collection by MACHADOXLEAO that is inspired by John Bunyan’s 1678 allegory “The Pilgrim’s Progress”.  This drop features utilities for collectors, such as original design files and Zoom calls with the creator. NFT Highlights Reddit’s Ohanian leads $54 million Doodles capital raise Paradigm unveiled variable rate gradual Dutch auctions mechanism for Art Gobblers Y00ts mint t00b Is the 7-day biggest NFT collection, surpassing $7.9M in SOL Cardano’s first NFT lending platform announces $25,000 in bounty ahead of mainnet launch Automobili Lamborghini’s “The Epic Road Trip” announces its September NFT utilities Starbucks brewing NFT customer loyalty platform, so are smaller coffee shop chains LG embraces NFT tech with new ‘LG Art Lab’ smart TV application GameFi Highlights Guild of Guardians teams up with top names in esports to grow Web3 game How GameFi contributes to the growth of crypto and NFTs Gala Games launches Superior alpha playtest Over 40% of GameFi users are using the WAX blockchain Web3 gaming still growing despite economic woes, according to DappRadar report GameFi and NFTs set to be first to recover from downturn as venture funds flow in NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $106,800 Minted VVS Miner Mole $86,800 Magic Eden Y00ts: mint t00bs $2,778,000 OpenSea CryptoPunks $3,476,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $106,800 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $86,800 Sample Platform Magic Eden Collection Y00ts: mint t00bs Sales Volume (USD) $2,778,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,476,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters  Be the first to hear about new insights: Follow us on Twitter Tags crypto research cryptocurrencies GameFi NFT Ready to start your crypto journey? Get your step-by-step guide to setting up an account with Crypto.com By clicking the Get Started button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.   DOWNLOAD APP
Gold's Hedge Appeal Shines Amid Economic Uncertainty and Fed's Soft-Landing Challenge

Chengdu Returns To Normal Life, The Entry Of Genting Group Into The Competition

Saxo Bank Saxo Bank 19.09.2022 08:30
Summary:  Sentiment in U.S. equities has been dampened by rising expectations of larger rate hikes for the rest of the year and profit warnings and depressed remarks from the management of heavy-weight companies about their business outlook and the economy. All eyes are on the FOMC meeting this Wednesday. China’s August industrial production, retail sales, and infrastructure construction surprised on the upside but housing market activities and home prices remained sluggish. What is happening in markets?   Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) are looking bearish again US equities closed off the week with the biggest loss since January after heavy-weight companies were hit by a series of company earnings and guidance woes, with their pain being compounded by rising bond yields. S&P 500 was down 0.7% on Friday and down 4.8% for the week and Nasdaq 100 dropped 0.6% on Friday and 5.8% for the week, wiping out the prior week’s gains. The Nasdaq 100 is now down 29% from its November 2021 peak and the technical indicators on the monthly chart tend to suggest further downside ahead. Big US stock movers   Last week there were a number of industrial titans, first Dow Chemical (DOW:xnys), Eastman Chemical (EMN:xnys), Huntsman (HUN:xnys), Nucor (NUE:xnys), and capped with FedEx (FDX:xnys) warning about grim demand outlook.  FedEx only missed EPS for the August quarter massively but also cut its Nov quarter EPS guidance and completely withdrew the FY2023 guidance, citing significantly worsened macroeconomic trends both internationally and in the US. FedEX tumbled 21.4% on Friday. Amazon (AMZ:xnas) declined 2.2%, following FedEx’ warning. General Electric (GE:xnys) warned the supply chain pressure is having a negative impact on profits.  Uber (UBER:xnys) dropped 3.7% after the ride-hailing services provider following a major data breach in its computer network caused by a hacker.  Amazon (AMZ:xnas) declined 2.2%, being dragged down by the woes in FedEx.  Adobe (ADBE:xnas) slid another 3.1% on Friday and a massive 19.4% in two days since the software maker announced a USD20 billion offer to acquire Figma, collaborated product design platform at 100x of the latter’s recurring revenue. For more discussion on FedEx and Adobe, please refer to Peter Garny’s note here.  Last Friday, over USD3 trillion notional of options expired on Friday and S&P3900 puts traded about 95,000 contracts.  U.S. treasuries (TLT:xnas, IEF:xnas, SHY:xnas) Trading in treasuries on Friday was mixed, with yields of -2-year and 10-year notes unchanged at 3.86% and 3.45% respectively as 5-year yields came off 3bps to 3.63%, and 30-year bonds underperformed for the first time during the week, seeing yield rising 4bps to 3.51%. Treasuries pared their early losses (higher yields) after the 5-10 year inflation expectations in the University of Michigan consumer sentiment survey fell to 2.8%, the lowest since July 2021.  The underperformance in the 30-year bonds was attributable to supply, including a USD12 billion 20-year treasury bond auction on Tuesday and expected corporate issuance of about USD20 billion this week.  The latest data shows that the holding of Japan, the largest foreign holder of U.S. treasury securities, fell USD2 billion to USD1.23 trillion and China, the second largest holder, saw its holdings increase by USD2.2 billion to USD970 billion in July.     Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Shares traded in Shanghai and Shenzhen plunged, with CSI 300 down 2.4%.  The General Office of the State Council issued guidelines to encourage securities firms, funds, and financial guarantee companies to lower fees.  Shares of brokerage firms fell across the board in mainland bourses by nearly 5%.  East Money (300059:xsec) tumbled 10.8%. Chinese brokerage companies listed in Hong Kong also plunged, with GF Securities (01776:xhkg) down by 8.6%, CITIC Securities (06030:xhkg) down by 5.0%, Huatai Securities (06886:xhkg) down by 4.8%.  Chinese property stocks fell in both the mainland bourses and Hong Kong bourse, following the report that new home prices 2nd to 4th tier cities fell sharply again in August despite the recent relaxation of home purchases in a large number of cities.  The weakness of the property sector in the fixed asset investment data in August and the news that the city of Suzhou resumed home purchase restrictions on non-residents in four districts added to the woes in the developer space.  Country Garden (02007:xhkg) tumbled 7.6%.  The EV space declined, falling from 1% to 4.5% following the Ministry of Industry and Information Technology’s Vice Ministry said that there are “blind investments” and overlapping projects in EV in some provinces and municipalities.  In the China internet space, Kuaishou (01024:xhkg) led the charge lower, down more than 7%, as Alibaba (09988:xhkg), Tencent (00700:xhkg), Meituan (03690:xhkg), and Bilibili (09626:xhkg) down from 1.5% to 4.4%.  Australia’s ASX200 has wiped out July’s rally. Focus will be on RBA minutes released Tuesday The ASX200 shed 2.3% last week, erasing July’s gain but faring better than US equities. The market woes have not only come after Australian 10-year bond yield rose to fresh highs, up 0.2% last week, while hovering in 8-year high neighbourhood. But secondly, market sentiment has also been capped as the Fed is set to aggressively hike rates, which pressures Australia’s tech stocks, with many Aussie tech companies making the majority of their revenue from the US. And thirdly, metal commodities have come under pressure again of late, as China’s demand continues to wane. In fact, fresh Chinese export data shows their rare earths and aluminium exports surged yoy. Meanwhile total China’s imports of steel plunged 16% yoy, corn fell 44% and wheat dropped 25% yoy. The trifecta of issues is seeing the ASX200’s technical indicators on the day, week and month charts flag further downside is ahead. Australian dollar on notice with the Fed to hike this week The AUDUSD is under pressure after hitting a new low last week, 0.6727 US cents, which is about a two year bottom. Despite already losing 7% this year, the commodity currency, the AUDUSD is on notice again this week with the Fed expected to hike by 75bps (0.75%) at its Wednesday meet, which will take the Fed funds rate to 3-3.25%. There is also a slim chance (25% chance) of a full percentage hike of 100bps (1%) after the hotter-than-expected August inflation. Either way, the fundamentals support the US dollar gaining momentum against the Aussie, especially as the RBA is limited in its hiking power and likely to only hike by 0.25% next month. Also consider a jump in the US 10-year yield will likely further bolster the USD. A slightly softer USD heading into the FOMC week The USD is slightly softer going into the FOMC week amid some profit-taking, but it still remains the haven of choice with massive amounts of policy tightening packed into the week. AUDUSD pared some of the recent losses amid China reopening optimism and RBA’s Kearns saying that Aussie home buyers could benefit from higher rates. USDCAD rose to near 2-year highs on Friday at 1.3308, partly oil induced, but also due to increasingly sour sentiment and perceptions that BoC-Fed policy will likely diverge in wake of the latest disappointing Canadian employment data vs still-tight US labor markets. USDJPY will be a key focus with both FOMC and BOJ meetings scheduled in the week, and possibility of another round of strong verbal intervention from the authorities is seen. EURUSD is back above parity, as ECB members stay hawkish, but risks remain titled to the downside in the near term. Crude oil (CLU2 & LCOV2) With massive central bank action scheduled in the week, it can be safely assumed that demand concerns will likely remain center-stage. A spate of rate hikes is aggravating concerns of an economic slowdown, but easing of restrictions in China’s Chengdu today will ease some of the concerns. Dalian will also exit restrictions today. Nevertheless, more supply disruptions remain a risk. Germany seized the local unit of Russian oil major Rosneft PJSC, including three refineries. One of those is now preparing for short-term restrictions in crude supplied via the Druzhba pipeline. WTI futures were seen higher above $85/barrel in early Asian hours, while Brent futures were close to $92. Gold (XAUUSD) Gold saw some recovery after touching support of $1660/oz on Friday as interest rate hike bets picked up following the hotter-than-expected August CPI in the US last week. Further resilience in economic data out of the US has further kept interest rates expectations on an upswing, while rising geopolitical and economic risks are doing little to entice haven buying as the US dollar still remains the prime safe-haven choice. Gold was back close to $1680 this morning in Asia. The risk of the FOMC sending the US economy into a recession before getting inflation under control is rising and, once that occurs, the dollar is likely to turn sharply lower, thereby supporting fresh demand for investment metals. What to consider? University of Michigan survey remains optimisticThe preliminary September University of Michigan sentiment survey saw the headline rise to 59.5 from 58.5, just short of the expected 60, but nonetheless marking a fourth consecutive rise. Notably, the rise in forward expectations was starker than in current conditions, with the former also coming in above consensus expectations. Also, key were the inflation expectations, which echoed what was seen in the Fed surveys last week. The 1yr slowed to 4.6% from 4.8% and the 5yr expectations slowed to 2.8% from 2.9%.   China’s August activity data improved better-than-expected China’s activity data for August came in at stronger than expected growth rates.  Industrial production grew 4.2% Y/Y in August beating the consensus estimate of 3.8% Y/Y and improving from last month’s 3.8% Y/Y.  Higher output in automobile and power generation offset the impact from slower activities in other industries such as pharmaceuticals and computers.  Retail sales grew 5.4% Y/Y in August, well exceeding the 3.3% Y/Y median forecast from the Bloomberg survey and the 2.7% YoY in July. A favourable base effect and stronger auto sales during the month boosted retail sales and more than offset the drag from tightened pandemic control measures and a slow housing market.  Fixed asset investment grew 6.4% Y/Y in August, notably accelerating from the 3.6% Y/Y in July, led by 14.8% Y/Y growth in infrastructure and 10.7% Y/Y growth in manufacturing investments while investment in properties slowed further to a decline of -13.9% Y/Y in August from July’s -12.1%.  China’s property prices in lower-tier cities continued to decline in August According to data released by the National Bureau, the weighted average of new home prices in the top 70 cities in China fell 1.1% Y/Y (vs -0.6% Y/Y in July), driven largely by declines in property prices in lower-tier cities.  The easing of home purchase restrictions by local governments has so not been able to stop the decline in property prices in lower-tier cities.  Sequentially, new home prices in Tier-2, Tier-3, and Tier-4 cities dropped by about 5% M/M annualized while new home prices in Tier-1 cities rose by 1.6% M/M annualized.  An unexpected seventh bidder for Macao gambling licenses created uncertainties about incumbent operators In a tender for the six 10-year casino operating licenses, the six incumbent casino operators faced an unexpected rival from the Malaysian Genting Group which submitted a bid into the tender.  As the maximum number of licenses remains at six, the entry of Genting Group into the competition may mean one of the incumbent license holders might be ousted. Chengdu exits lockdown Chengdu, the largest city in Western China ends its nearly 3-week-long lockdown today and allows its 21 million population to leave their home and resume most aspects of normal life.  Residents are required to do PCR tests at least once a week.  Hong Kong considers ending hotel quarantine for inbound travelers The Hong Kong Government is reviewing and considering plans to end the hotel quarantine requirements for inbound travelers.  Currently, travelers to Hong Kong are required to be quarantined in a hotel for 3 nights and followed by four-day medical monitoring at home and then another 3 days of self-monitoring without mobility restriction.  The news may lift the share price of travel-related stocks, such as Cathay Pacific (00293:xhkg).   For a global look at markets – tune into our Podcast.   Source: https://www.home.saxo/content/articles/equities/apac-daily-digest-19-sept-2022-19092022
Binance Coin price pops higher against all odds

Binance Coin price pops higher against all odds

FXStreet News FXStreet News 16.09.2022 16:41
Binance Coin price pops over 1% higher while Ethereum’s Merge melt-down taunts most other cryptocurrencies. Although the BNB price might be popping higher, hidden issues lurk under the hood. The forecast remains unchanged for a drop back to $212.50. Binance Coin (BNB) price is popping higher while most other cryptocurrencies are on the back foot, unable to recover from the intraday melt-down on the back of Ethereum’s Merge. More things are likely cooking under the hood, as overall cryptocurrency support is fading. That Elon Musk has other things in the fire and is not able to come out in support of cryptocurrencies has lessened their popular appeal. Now that Matt Damon and Lebron James are demanding their crypto advertisements be pulled, is another telling sign of an industry-wide collapse in the making. BNB price is in dire need of Matt Damon Binance Coin price looks to be fighting back intraday in a challenging market with cryptocurrencies taunted by Ethereum’s price collapse after the Merge and Bitcoin not able to rally away from $20,000. Support is also fading with a very battered equilibrium where the dollar outweighs almost every crypto- and alt currency. You can’t blame Matt Damon and Lebron James for demanding to pull their ads for an industry that has gone from a $3B market capitalization to just $1B in nine months. BNB price thus has a lot going against it, and the little recoveries are rather the last impulses of what appears to be a dying body, ready to go into zombie mode. Should next week continue to be negative, with markets focused on the Fed coming out with a surprise 100 bps rate hike, expect a melt-down with $260 as first support. Next, the area around $230 would be the last level seen before Binance Coin price hits $212.50 – a total 22% decline from where BNB price is currently trading. BNB/USD Daily chart On the other hand, it is possible the recovery currently underway could well extend should price action refrain from making new lows. Traders would get a more secure entry level, away from this week’s low, to build up some long positions going into the weekend. From there, a quick recovery towards $290 is possible as more upside would be limited with the Fed central bank meeting as a key event for next week.
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Alex Kuptsikevich Alex Kuptsikevich 19.09.2022 09:43
Market picture Bitcoin is down 8.8% over the past week, ending near $19,700. The losses continued to pile up on Monday, decreasing the price to $18.5K (-7.77% in 24 hours). Ethereum collapsed 25% to $1300 in exactly one week. Top altcoins fell from 10% (Solana, Dogecoin) to 19% (Polkadot). The exception was XRP (-0.5%). Total crypto market capitalisation, according to CoinMarketCap, was down 14% for the week at $903bn. The cryptocurrency Fear & Greed Index returned to “extreme fear” territory at 21 by Monday. Flee from risks in global markets has pressured Bitcoin over the past week. Ethereum has underperformed, quickly taking back the speculative advantage accumulated before the move to PoS. The local technical picture in BTCUSD looks quite worrying. The pair has fallen to the lows of June, where it spent a few hours during the long squeeze. Bitcoin’s main fall came Tuesday on higher-than-expected US inflation, raising the possibility of a sharper monetary policy tightening at this week’s Fed meeting. The bear market was confirmed by BTCUSD actively selling off after testing the significant moving averages - the 50-day and 200-week moving averages. The latter, which had previously confirmed that the crypto market was growing over the long term, capitulated in June. And in recent months has acted as a selling point from which to intensify, convincing investors that the 10k mark of Bitcoin will be seen sooner than the 30k mark. News background Ethereum’s transition to the new algorithm last week was a success, with the network’s power consumption reduced by 99.95%. However, the hopes of crypto bulls, expecting a rise in quotations, were not fulfilled. Changpeng Zhao, CEO of cryptocurrency exchange Binance, urged traders to be patient. In his view, the move to PoS should not be expected to impact the Ethereum ecosystem immediately. Read more: This Will Be The Highest Rate Level In Five Years| FXMAG.COM US Securities and Exchange Commission (SEC) chief Gary Gensler has warned after The Merge update ETH can be treated as security from a legal perspective. Nassim Taleb, the author of Black Swan, called bitcoin a “tumour” caused by the US Federal Reserve’s loose monetary policy. In his view, 15 years of low-interest rates ruined the economy and created bubbles in the market, like BTC.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Altcoins: Ethereum Price (ETH/USD) Has Declined By Over 13% Since The Transition

Crypto.com Accelerate the... Crypto.com Accelerate the... 19.09.2022 09:57
ETH’s The Merge was completed. ETH is down 13.5% since The Merge; BTC is outperforming. U.S. Aug inflation at +8.3% YoY, higher than expected. Chart of the Week: The Merge…Crickets Ethereum’s The Merge, one of the most anticipated events in the cryptosphere, was completed on 15 September. From a ETH price performance perspective however, it has been rather underwhelming, as ETH has dropped 13.5% since The Merge. Perhaps the prior substantial price surge since the June lows indeed made it a sell the news event?  Also, macro headwinds are perhaps proving difficult to overcome, with a higher than expected August U.S. CPI print (+8.3% YoY) last week and the upcoming Fed rates decision on 21 September. Read our recent Alpha Navigator report for more analysis.     Fund Flow Tracker The aggregated exchange balance for ETH spiked over the past week and marked the highest level since July 2022.         Derivatives Pulse Implied vols for both BTC and ETH dropped during the past week. 1-month implied vol currently stands at 63.9% (vs. 69.0% a week ago) and 92.3% (vs. 104.2% a week ago) for BTC and ETH, respectively.                     ETH perpetual futures funding rates showed a positive print after a month-long streak of being in negative territory.         Leveraged traders’ net-short position in CME Bitcoin futures continues to reduce and mark new YTD lows.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Price Movements     News Highlights Crypto.com announced it has successfully renewed the National Institute of Standards and Technology Cybersecurity Framework and Privacy Framework assessments as audited by SGS, an internationally-recognised certification authority. Ethereum’s The Merge was finally completed on 15 September. Ethereum’s energy consumption is expected to drop by ~99.95% and its developers say the upgrade will make the network more secure and scalable too. U.S. CPI increased by 8.3% YoY in August, higher than market expectations, as rising shelter and food costs offset a fall in gasoline prices.  A consortium of leading broker-dealers, global market makers, and venture capital firms announced the launch of EDX markets, a digital assets exchange. Backers include Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital, and Virtu Financial. Catalyst Calendar             Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES Source: Market Pulse (19/09/2022) (crypto.com)
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

Ethereum Is The Most Preferred Option For Smart Contracts, Etherscan What Is It?

Kucoin Blog Kucoin Blog 19.09.2022 10:41
Unarguably the “poster image” for blockchain, Ethereum is one of the biggest and most important names within blockchain circles and discussions. However, many beginner, intermediate, and even expert blockchain users might have encountered difficulty, occasionally or frequently, navigating the Ethereum blockchain. If this sounds like you then this article is just what you need. While the information in this article will not magically wave all your confusion about the Ethereum blockchain away, it definitely will go a long way in making your blockchain experience more enjoyable. Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain,Ether token, and much more. What are Blockchain Explorers? Because blockchains, such as Ethereum, are open-source and decentralized, anyone with an internet connection can examine its contents whenever necessary or desired. This is where blockchain explorers come in. This platform can offer the best foundation for learning about the fundamentals of a blockchain. That said, blockchains that prioritize privacy above decentralization, such as Monero, might limit spectators’ access to information. Outside of that, most blockchains are open to dissection on request. One popular yet underused tool for peering into or dissecting network activity is ‘Etherscan.’ Etherscan: The Basics This blockchain explorer, as it is fondly called, allows users to evaluate anything and everything on the Ethereum blockchain, such as observing transactions in real-time, viewing wallet activities, and many other interesting use cases. For a simpler understanding of Etherscan, think Google but for blockchain. Etherscan Homepage This easy-to-use and trusted blockchain tool mandates no sign-up required for users to access the ever-increasing depths of the Ethereum blockchain, rightfully earning it the Google for Ethereum analogy. The Origin Story of Etherscan Etherscan is a not-for-profit platform created by a small team of developers led by Mathew Tan, the current CEO, to make Ethereum more open and accessible to the public. “Our mission is to facilitate Blockchain transparency by indexing and making searchable all transactions on the Ethereum Blockchain in the most transparent and accessible way possible,” the team states. The blockchain explorer was launched in 2015, around the same time as Ethereum, in Kuala Lumpur, Malaysia. Etherscan boasts of having 5 million users per month, who use the platform as the “source of truth” for events and occurrences on the Ethereum blockchain. Etherscan also serves as an archive for Ethereum and stores historical data for newer generations of Ethereum and blockchain enthusiasts. The network is completely independent and is not funded or managed by the Ethereum Foundation, allowing it to maintain an unbiased stance on Ethereum. Understanding Etherscan The basic functionality of Etherscan is similar to any other blockchain explorer. It allows users to look up transactions, wallet activities, smart contracts on the blockchain, and so much more. Etherscan brings all this functionality to the fingertips of the user, through a search bar or by navigating the menu options on the homepage of the website. Blockchain technology provides transparency for all activities, giving users an avenue to query data. Etherscan simply acts as an aggregator and visual interface to this data; a search engine. Not only that, its use case has expanded over the years to include more data and services as it evolves with the general blockchain ecosystem. As mentioned earlier, users can choose between creating an account or using the platform without one. Not having an account does not limit the amount of data users can access in any way. Also, developers can easily access the API services to build decentralized applications (dApps) or serve as a data feed. More on this later. Due to its support for user accounts, some people think Etherscan is a wallet service provider; it isn’t. Also, wallet addresses cannot be integrated on Etherscan. However, users can input and verify their Ethereum address on Etherscan and track transactions and activities. Why Use Etherscan? Now that you know the basics of Etherscan, the question “why” might have crossed your mind. Answering why you should use the blockchain explorer is necessary to becoming an independent-thinking blockchain user. Gaining more knowledge on how to explore and analyze the blockchain will give you a better perspective as a blockchain user or enthusiast. Beyond that, knowing how to use Etherscan can save you from making wrong or costly decisions and even set you ahead of the curve. For instance, monitoring whale activities will keep you updated with the movements of large amounts of cryptocurrency to and from exchanges. Most times, this knowledge or information can be used to preempt market rallies or sell-offs in the crypto market, allowing you to position strategically. You can also use the information from Etherscan to conduct in-depth due diligence on the founders of a token and what they are doing with the underlying token. This insight can allow you to identify potential scams or rug pulls. How To Use Etherscan Blockchain or Ethereum enthusiasts can simply log on to the Etherscan website and begin exploring, it’s that easy. To view specific wallet details and transactions, however, the user will need to provide the specific wallet address or the transaction ID. Etherscan allows users to quickly search the desired address, transaction ID, block, token, or the Ethereum Name Service (ENS). As noted earlier, think of it the same way you would input a term into the Google search bar. Users can also browse or search transaction history and examine the existing state of the Ethereum network from the Etherscan homepage. Additionally, users can create watchlists of accounts to track, make notes, and turn on notifications on their favorite or desired metrics or accounts. Described below are some of the ways users can decide to use Etherscan. Looking Up Transactions On Etherscan One of the most common uses of Etherscan is to view and track specific transactions. To look up specific transactions on the blockchain explorer, simply input the transaction ID on the search bar. Users can also open the transaction tab of a contract page, which would display every transaction related to the contract. This could include minting, transfers, sales, burning, settings on a wallet, and so much more. As one would expect, all this data and activity is time-stamped on the blockchain. Monitoring a Transaction Hash A transaction hash is used to track or trace the progress of a transaction on the blockchain. To monitor a transaction, simply copy the transaction hash in question and paste it into the search bar on Etherscan. Once you do this, a flurry of transaction details will be displayed. The displayed information would include transaction status (failed or successful), the block height in which it was sent, transaction costs, gas prices of the transaction, sender and recipient wallet address, and so much more. Examining a Wallet Address On Etherscan Users can easily view the transaction activity on a wallet and how the wallet’s balance changed over time. Wallet information can be gotten by inputting the desired wallet address and selecting “Analytics.” Once done, the user can see the data analytics on a wallet, such as existing and past balances, transaction history, and fees paid. Looking Up the Gas Fees Using Etherscan Etherscan can also be used to track gas prices, measured in Gwei, on the Ethereum network. Gas prices are a crucial part of transaction fees on Ethereum and allow users to trace a transaction up to the block it was confirmed. Every block on the network features specific gas prices, which varies based on existing network traffic or other conditions. Gas Tracker Apart from monitoring gas fees on other transactions, users can track gas fees through the “gas tracker” option, and track or review existing gas prices to make more informed decisions on transactions. Also, the gas tracker tool serves as a metric for predicting network congestion and, as a result, possible price dynamics. Users can also use the gas tracker to determine gas prices required for interacting with certain smart contracts. Viewing NFTs On Etherscan Etherscan released a new feature in 2022 to allow users to view NFTs directly from the platform. In a typical Etherscan fashion, this new feature allows users to get a breakdown of all the information on the underlying NFT, allowing for better trading decisions. This new feature also makes it easier for newbies or beginners to navigate the NFT space and boosts the transparency of NFT ownership and transactions. This makes it easier to verify that an NFT seller is the original owner of an NFT and not a scam. NFT holders can also view their collections on one page. They can do this by opening the Etherscan homepage and inputting (copy and paste) their wallet addresses on the search bar. On the transaction bar, click ‘ERC721 Token Txns’ and instantly have the list of your NFTs displayed on your screen. Take it up a notch by clicking on the ‘Details’ column and clicking ‘View NFT>’ to view the NFT details and properties. Reviewing Token Approvals for dApps Interacting with a dApp automatically gives out some wallet information and access to the dApp in question. This makes it imperative to know exactly what dApp you’re interacting with and if you want that project to have access to your wallet. Token Approval While vetting a DeFi project before interacting with it would save you from several potential pitfalls, you want to be sure the trusted project remains true to its goals and mission or has not been compromised. Etherscan has you covered. Apart from providing the necessary information on a dApp, Etherscan allows users to revoke wallet access to decentralized applications. Users can revoke wallet access by going through the Token Approval Checker portal, which gives the option of blocking a specific dApp the user no longer trusts. Simply search your wallet address on the Token Approval Checker option, review the list of approved smart contracts on the wallet, and click on the ‘Revoke’ icon to end a dApp’s access to your wallet. Viewing Smart Contracts On Etherscan Ethereum remains the king of DeFi and the broadest blockchain ecosystem, making it an integral part of the decentralized finance space. As such, Ethereum is the most preferred option for smart contracts. Smart Contracts Search Page Using Etherscan to search smart contracts and their interactions is a good way to avoid losing funds by sending to the wrong contract. Etherscan Contracts This blockchain explorer makes it easier to research the history of smart contracts and verify ownership. Finding Airdrops On Etherscan Etherscan recently got updated with functionality that provides airdrop details and support. While users cannot capture every airdrop as they are launched, Etherscan allows users to see an overview of which airdrops are active or not, thereby helping the user maximize their possibility of capturing airdrops. This feature also works well for those trying to confirm their eligibility for certain airdrops. Tracking DEX Activities Users of Etherscan can look up information about their favorite decentralized exchanges. Etherscan provides a statistical representation of DEX activities and performance. DEX Pie Chart Charts on DEXs can be customized to include preferred metrics and format and can be downloaded. DEX Tracker Viewing ERC-20 Token Activities Etherscan allows users to keep track of their favorite ERC-20 and ERC-721 tokens in the market. Simply by typing the name of the token into the search bar, users can get in-depth token information, such as the current price, current market capitalization, total number of token holders, number of transactions, contracts listed on the token, and every single transaction involving that token. Token Tracker ERC-721 Page Such utility comes in handy when a user is trying to decide on interacting or investing with a new crypto asset. Users can see the token distribution structure of the project by viewing the holders, which is useful when trying to assess if the token is susceptible to whale manipulation or uneven distribution. Minting NFTs On Etherscan Etherscan can be used by NFT enthusiasts to mint their favorite non-fungible tokens. This is especially useful in times when the hype surrounding the launch of a token causes massive traffic on minting websites, which could cause the website to slow down, be unresponsive, or crash. Etherscan NFT Minting Users can mint the NFT in question directly from the projects’ smart contracts on Etherscan. Several NFT projects, such as Loot, have been minted exclusively through the contract. To mint NFTs using Etherscan, start by making sure you have enough tokens in your wallet, then search the smart contract address through the search bar on Etherscan. You would have to connect your wallet to the platform using the ‘Connect to Web3’ icon. After this, you can click on ‘mint,’ input the transaction details, confirm the transaction, and get the NFT deposited to your wallet. Using Etherscan’s API Another important feature of Etherscan is its application programming interface (API) services. This feature is useful to expert blockchain users and developers and also useful to beginner and intermediate blockchain users for educational purposes. Developers can create an account on the blockchain explorer and use its APIs to create decentralized applications. NFT enthusiasts can also benefit from creating dApps on Etherscan as the dApp would have a dedicated NFT tracker page, where it tracks all NFT transactions and activities on Ethereum. Etherscan also allows developers to integrate its services into their apps or website, which would allow them to display information and statistics directly from Etherscan. Etherscan API Integration Some of the information the API can allow users to display on their websites include specific account information, contracts, transactions, blocks, event logs, Geth/Parity Proxy APIs, and other blockchain statistics. Tracking the Ethereum Blockchain One of the most common uses of Etherscan is to view information about Ethereum. The blockchain explorer can be used to view charts and statistics and derive overviews of the entire Ethereum ecosystem, including market metrics such as daily transactions, unique addresses, and average block size. Ethereum Statistics Information like this is invaluable for Ethereum experts and enthusiasts, especially as the behemoth blockchain transitions from a Proof-of-Work (PoW) system to a Proof-of-Stake verification method. Ethereum Data Limitations of Etherscan While Etherscan provides immense benefits to its users, it is not without its drawdowns. For one, the information provided by the platform can be overwhelming for some, especially newbies or beginners. Another drawdown experienced by most traders is that Etherscan does not provide active trading charts. Users would have to toggle between screens to access active trading charts and view Etherscan statistics. Also, trades on digital assets cannot be executed from the platform, making it unsuitable as a standalone investing or trading service. Final Word Etherscan is an easy-to-use, detailed, and free blockchain analytics tool, making it almost indispensable for those who have grown accustomed to using it. Most of the tools on the platform can be learned and mastered within a short period, as they are basic and explanatory. This makes the platform perfect for users looking to improve their blockchain analytics skills. While there are other blockchain explorers on the market today, Etherscan remains ahead of the pack in many ways, considering it was the template used by most competitors. This makes your acquired Etherscan skills easily transferable to other analytics platforms.   Source: https://www.kucoin.com/blog/what-is-etherscan-and-how-to-use-it
The Metaverse Will Offer Everyone Endless Possibilities

The Metaverse Will Offer Everyone Endless Possibilities

Kucoin Blog Kucoin Blog 19.09.2022 10:44
Table of Contents: · What is Metaverse? · How does Metaverse work? · How did Metaverse start? · How are tokens used in Metaverse? · Why is Metaverse important? · What might happen in the future? · Closing thoughts As the tech sector unlocks new milestones with each passing day, the connection between the financial, physical, and virtual worlds becomes stronger. At the moment, people from different geographic locations can communicate and even transact without leaving the comfort of their homes or offices. However, unlike the current 2D version of the internet, the next version will be based on immersive 3D experiences. This means activities like learning and earning a living will soon shift to virtual setups. These virtual worlds form the metaverse. What is Metaverse? In simple terms, the metaverse is the next iteration of the internet. It will comprise multiple intertwined virtual worlds that allow users to engage in daily activities like socializing, working, gaming, and meeting, among others. The metaverse will let people access all these features without moving from their favorite couch. At the moment, the metaverse is far from taking its projected form. However, platforms such as The Sandbox and Decentraland feature some metaverse elements. The Sandbox and Decentraland are gaming platforms and have proven the benefits of gamers living in a virtual world. For instance, the platforms feature virtual economies, where gamers can purchase or sell in-game items in the form of non-fungible tokens (NFTs) and get real-world value. This system is superior to the current version of video games, where gamers lose all the value invested in a game once they stop playing. How Does the Metaverse Work? With the metaverse representing the next version of the internet, it will likely run on the blockchain, among other disruptive technologies. Additionally, the metaverse will likely use cryptocurrencies for payments because they are decentralized, interoperable, and can process cross-border payments much faster than the traditional financial system. The metaverse will tap Augmented Reality (AR) and Virtual Reality (VR), allowing users to interact with one another through digital avatars. At the moment, people can enjoy metaverse-like experiences through VR headsets. However, the metaverse will take this a notch higher. Meta CEO Mark Zuckerberg envisions a future where people can teleport instantly as a hologram to different places. According to him, the metaverse will create more opportunities regardless of where someone lives. He believes that the metaverse would allow people to spend more time on things that matter to them, all while reducing their carbon footprint. How Did the Metaverse Start? While the metaverse only gained popularity in recent years, the term is three decades old. Neal Stephenson first used the term metaverse in 1992 in his science fiction novel, Snow Crash. Stephenson describes the metaverse as an online world, which the book’s characters can access by wearing goggles. While Stephenson’s book is purely fictional, the metaverse draws inspiration from the book. Although the book once seemed like fiction, the metaverse might soon become a reality. Large organizations like Meta - formerly Facebook - are spearheading the metaverse’s development. Other firms involved in the development of the metaverse include Microsoft, Animoca Brands, Roblox, and Epic Games. However, it is worth noting that although leading corporations have big metaverse ambitions, the metaverse will not belong to a single entity. By tapping blockchain technology, which is permissionless and open source, the metaverse will allow anyone to build on it. How Are Tokens Used in Metaverse? As aforementioned, cryptocurrencies will most probably serve as the currency of the next version of the Internet. Each virtual world will have a native currency. These tokens will enable the transfer of value among people in virtual economies. For instance, a user can use The Sandbox (SAND) to purchase virtual land in The Sandbox metaverse game. By using digital assets, metaverse users can prove ownership by providing transaction details after purchasing items in a specific environment. The blockchain’s immutability ensures that transactions are tamper-resistant, minimizing fraud in the metaverse. An example is the use of NFTs to represent ownership of virtual property like land. Digital assets also enable effective governance of metaverse platforms. In real life, stakeholders can have voting rights in a company, and elected leaders implement changes that are voted in. The same can happen in the metaverse once token stakers vote on changes they would like to see in a particular virtual world. Why is Metaverse Important? The metaverse will offer everyone endless possibilities provided they have an internet connection. By providing a shared environment and economy for all people, the metaverse enables the buying and selling of products and services regardless of geographical limitations. The metaverse will also offer businesses new channels to generate revenue. For instance, a fashion house can set up a metaverse shop, and people will purchase clothes for their avatars. All businesses in the real world can thrive in the metaverse, seeing as it will function as an alternate virtual world. What Might Happen in the Future? As technology advances, the metaverse will continue taking shape. When fully operational, the metaverse will allow people to interact at levels that currently seem fictional. For instance, fans can talk to their favorite stars directly. Moreover, they can instantly visit locations which they could not reach in real life. The metaverse will also improve the experience for remote workers. While remote workers can currently attend meetings through video conferences, the metaverse will allow them to sit in the meetings without moving from the comfort of their homes. This means all members of an organization can meet in a virtual office and share ideas without leaving their physical locations. Closing Thoughts As blockchain, VR, and AR technologies continue catching on, it is evident that the world will inevitably move to an era where human interactions increasingly rely on virtual platforms. This demand creates a massive market for the metaverse. The metaverse’s possibilities are endless, something that has seen experts predict that the industry might be worth as much as $13 trillion by 2030.   Source: https://www.kucoin.com/blog/metaverse-where-are-we-now-and-how-does-the-future-hold
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Cryptocurrency Mining Project Using Solar Energy, Bitcoin Is In The Down Trend

InstaForex Analysis InstaForex Analysis 19.09.2022 14:21
Crypto Industry News: Whyalla's "steel city" in South Australia has become home to a new cryptocurrency mining facility that will run on electricity generated from solar energy. The 5 megawatt facility operated by Lumos Digital Mining will mine Bitcoin, which is often blamed for its energy-intensive nature. Australian national radio ABC notes in the report that as the world tries to cut energy consumption, mining the largest cryptocurrency uses more energy than medium-sized countries like Argentina. Local authorities see the cryptocurrency mining project using solar energy as evidence that generating Bitcoin can be more environmentally friendly. Commenting on the project, Nick Champion, South Australia's Minister of State for Trade and Investments, explained: "This is important for decarbonising the Blockchain, which is a very energy intensive industry. I think this is the start of a new economy in Whyalla," he said. A government official also hopes that in the future, other data centers will mine cryptocurrencies using renewable energy. Technical Market Outlook: The recent low at the BTC/USD was made at the level of $18,239 as the market extends the sell-off. The levels of $18,665 and $18,940 will now act as the technical resistance for bulls. The weak and negative momentum supports the short-term bearish outlook towards the level of $17,600 again, however the market conditions remains extremely oversold, so the pull-back and resistance test is welcome. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 13:00 2022-09-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293277
The Previous Week Was Definitely Dominated By The Ethereum's Merge, Now Cryptocurrency World Is Likely To Focus On Fed And Macroeconomy

The Previous Week Was Definitely Dominated By The Ethereum's Merge, Now Cryptocurrency World Is Likely To Focus On Fed And Macroeconomy

Kucoin Blog Kucoin Blog 19.09.2022 14:27
Table of Contents 1. Crypto Market Overview 2. Top Altcoin Gainers and Losers 3. News Highlights This Week: 4. Crypto Calendar: Events to Watch This Week The previous week was optimistic for the crypto market as enthusiasts cheered the Ethereum Merge, marking the transition of the leading smart contract blockchain to a proof of stake consensus. Although, the optimism didn’t translate to the market’s performance, with Bitcoin and altcoins, including Ether, trading in the red through the period as the focus shifted to Fed’s rate hike concerns.   The total cryptocurrency market volume has spiked by 47.73% in the past 24 hours to $70.93 billion, an encouraging sign suggesting high interest in this asset class among investors. The global cryptocurrency market capitalization dropped by 6.53% to $908.72 billion in the past 24 hours, falling under the key $1 trillion mark.   Let’s take a look at some of the biggest news from the crypto market and how they can impact digital currencies in the coming week:   Crypto Market Overview After rising to a high of $22,673.82 in the past week, Bitcoin (BTC) has fallen under the critical $20,000 level and is going further down following a weekly loss of more than 13%. At press time, the crypto king by market cap trades under the $19,000 level but bounced slightly higher than its weekly low of $18,644.47.   Cryptocurrency Market Heatmap | Source: Coin360   A few days after the Merge successfully saw Ethereum (ETH) transition from a proof of work (PoW) to a proof of stake (PoS) network, ETH/USDT gave back its gains after reaching a high of $1,745.78. Ether is down by 24.71% as the optimism over the ETH Merge event fades, and the bearish sentiment engulfs the second largest crypto.   The only altcoin that traded in the green over the past week was Chiliz (CHZ), strengthening by 11.17% in seven days. The altcoins that fared the worst in the market include Terra (LUNA), which was down by 48.08% for the week, followed by Terra Classic (LUNC) and Gnosis (GNO), which registered weekly losses of 31.90% and 26.81%, respectively.   Top Altcoin Gainers and Losers Top Altcoin Gainers Chiliz (CHZ) 11.39% Dai (DAI) 0.14% Binance USD (BUSD) 0.07% Top Altcoin Losers Terra (LUNA) 48.08% Terra Classic (LUNC) 31.90% Gnosis (GNO) 26.81% News Highlights This Week After much excitement in the previous week surrounding the landmark Ethereum Merge event, this week’s on the quieter side regarding fundamentals as far as the crypto market is concerned. The focus will remain squarely on factors outside the market, including Fed rate hikes, inflation worries, and the possibility of a global economic recession.   Here are some of the biggest headlines you need to know before trading cryptocurrencies this week:   Crypto Market in Bear Mode - Fed’s Rate Hike and Recession Fears Weigh Macroeconomic factors continue to dominate the minds of crypto investors as all attention turns to the US Fed Chair Jerome Powell, who could announce a 75bp rate hike this month. Tesla CEO and crypto influencer Elon Musk has already cautioned that a steep hike in interest rates by the Fed and peak Fed hawkishness could bring about deflation in the market, further impacting riskier instruments like digital assets.   Despite the cryptocurrency market enjoying strong fundamentals and increasing adoption, the sentiment continues to experience bearishness due to fears of a recession in the global economy. Rate hikes by the US Federal Reserve and other central banks increase the cautious mood among international investors and send them towards safer instruments and away from riskier instruments like cryptos and equities. This is one of the significant reasons the market exhibits signs of weakness into a new week.     Analysis of Social Trends in Crypto | Source: Santiment   To make matters worse, the risk-averse mood is further boosted by the World Bank’s warnings about a possible global economic recession in 2023. With central banks worldwide set to follow in the Fed’s footsteps with aggressive rate hikes to offset inflation against the backdrop of ongoing geopolitical tensions, a slowdown is inevitable. Will Bitcoin and other digital assets hold up and thrive through their first-ever global downturn?   Crypto Fear & Greed Index Signals Extreme Fear According to analytics firm Alternative, the Fear & Greed Index signals Extreme Fear among crypto investors. The indicator considers multiple factors to provide sentiment analysis of the crypto market. The index’s score of 21 is lower than last week’s 25 and a sharp drop from yesterday’s 27, signaling a more bearish bias among crypto investors.     Fear & Greed Index | Source: Alternative   Analysis of social trends in the crypto market from Sentiment also includes a bearish mood among crypto traders and investors. The most popular terms associated with BTC/USD include bottom, sell, bear market, rekt, and inflation.   On a somewhat positive note, however, there is considerable chatter on social media over the Ethereum Merge, keeping ETH/USD and the Ethereum ecosystem trending. Another digital asset doing well as far as social dominance in crypto markets is concerned is Cardano, but more on that later.   Institutional Investor Interest in ETH Grows After the Merge Analysis of ETH futures trading indicates a strong interest in the world’s second-largest cryptocurrency among investors through the week of the Merge. A comparison of the CME futures trading charts of Bitcoin vs. Ethereum shows higher activity in ETH, suggesting growing interest in Ether among institutional investors, thanks to the critical event.   BTC vs. ETH Futures | Source: TradingView   However, now that the Merge has happened and Ethereum has transitioned to PoS consensus, we’ll have to wait and see if the institutional investor interest in the crypto continues to grow and strengthen. The futures trading charts offer the most promising insight into the level of interest institutional investors have in a particular asset.   Cardano Gets Ready for Vasil Hard Fork This Week Moving beyond the market sentiment, Cardano (ADA) is getting ready for its next major network upgrade on Sep 18, 2022. The Vasil hard fork event was initiated on Sunday, 18 September, and will go live per schedule.   The Vasil era is the most ambitious upgrade to the Cardano blockchain and will usher in significant improvements in its scalability. Plutus V2 scripts will also improve the smart contract capability of the network, making the blockchain an even more attractive platform for decentralized applications (dApps) in the future.     ADA/USDT H4 Price Chart | Source: KuCoin TradingView   Ahead of the hard fork, Cardano’s social activity is on the uptick. This has also translated into higher buying activity in the ADA/USDT crypto pair in the near-term. Santiment’s Social Dominance chart analysis shows a higher volume of social traffic around Cardano even as the enthusiasm over Ethereum Merge fades online.   Will SEC vs. Ripple Case Close Soon? There may soon be light at the end of the tunnel for Ripple (XRP) holders in the lawsuit. Ripple Labs and the US SEC have filed motions for summary judgment in the Southern District of New York, asking the judge to pass a ruling on the case with the information presented.   The move could expedite a ruling, ending the prolonged uncertainty Ripple’s XRP has faced about its status as an unregistered security. Irrespective of whether the judge rules in favor of Ripple Labs, the end of the lawsuit could bring significant relief to holders of the XRP cryptocurrency, which has suffered immensely due to the uncertainty and delays in the case.   Norway’s Central Bank Plans CBDC on Ethereum More potential good news for the crypto market is the Norwegian Central Bank’s decision to explore the nation’s digital currency based on the Ethereum blockchain. Earlier this month, Norges Bank - the central bank of Norway, announced on Twitter that the Nordic nation’s CBDC (central bank digital currency) would be based on Ethereum.   Ethereum will provide the core infrastructure to manage the issuance, distribution, and destruction of Norway’s CBDC. As of July 2022, nearly 100 countries worldwide are in various stages of experimenting and adopting CBDCs as the future of money, with Nigeria and The Bahamas leading the way by fully launching their projects to date.   Crypto Calendar: Events to Watch This Week 20 September 2022 - Metarun (MRUN) - Metarun Public Launch 20 September 2022 - Secret (SCRT) - Mainnet Upgrade 20 September 2022 - Youclout (YCT) - Landsale Launch 21 September 2022 - EOS (EOS) - Antelope Leap V3.1.0 22 September 2022 - Cardano (ADA) - Vasil Upgrade 25 September 2022 - HyperonChain (HPN) - Mainnet Launch Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: Week After Ethereum Merge, Crypto Market Weighed Down by Rate Hike and Recession Fears | KuCoin
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Are these altcoins dead? Ethereum, XRP and Cardano price trends show signs of weakness

FXStreet News FXStreet News 19.09.2022 16:15
Ethereum Merge behind us, a phase of Bitcoin dominance has commenced and altcoins have suffered a decline in the past week. The current market cycle is marked by long accumulation and long consolidation phases, analysts consider this worse than a bear market. Ethereum price is on a steep decline, analysts have set a downside target of $1,277 for the altcoin in the ongoing bloodbath. Successful completion of the Merge has paved the way for Ethereum’s 18% dominance. Interestingly, Ethereum, XRP and Cardano, among other altcoins, are showing signs of weakness in their price trends. Analysts believe it is the end of altcoin season and the beginning of Bitcoin’s dominance yet again. Ethereum price continues decline despite successful Merge Ethereum Merge is successfully behind us and the crypto community has turned its eyes to the Cardano Vasil hard fork. The hype surrounding the Ethereum Merge has died down, ETH price is on a steep decline. Analysts have set a bearish target of $1,250 for Ethereum’s price. Traders should be aware of the bearish signals in Ethereum’s price trend. Though trader sentiment was bullish ahead of the Merge, the decline in ETH price has fueled a bearish sentiment among Ethereum holders. Ethereum price decline post Merge Analysts at the YouTube channel Bleeding Crypto identified Ethereum’s loss of support at $1,362 as a key bearish signal for the altcoin. Analysts have anticipated another drop down in Ethereum price, to support at the $1277.30 level. ETH-USDT Perpetual Contract 12-hour chart Analysts at FXStreet are bearish on the Ethereum price trend. For key price levels, check the video below: Bitcoin vs. top 50 altcoins Analysts at crypto intelligence platform IntoTheCryptoverse argue that Bitcoin’s dominance is gaining ground. Ethereum Merge fueled a bullish sentiment among holders, pushing ETH dominance to 18%. Bitcoin therefore needs to outperform Ethereum and the top 50 cryptocurrencies. Altcoin season index is considered an indicator of altcoin price trend reversal and what to expect from cryptocurrencies into 50. The index currently reads 69, and this implies it is not Altcoin season. Analysts argue it is a bear market in the ongoing cycle and Bitcoin dominance is likely to overtake altcoins. When less than 25% altcoins have a 90-day ROI greater than Bitcoin, it is Bitcoin season. Therefore, analysts believe Bitcoin season is about to commence. Altcoin Season Index Ethereum, XRP and Cardano price trends show signs of weakness After month-long altseason, a period in which 75% of the altcoins have a greater 90-day ROI than Bitcoin, altcoins have witnessed a bloodbath. Altcoins in top 30, Ethereum, XRP and Cardano have witnessed double-digit losses overnight. While there is still a high number of altcoins with a 90-day ROI greater than 100% and Luna Classic is the best performer, liquidity has started flowing into Bitcoin. IntoTheCryptoverse’s report on altcoins reveals a change in inflow of capital. The decline below the red region in the Altseason Index reveals more altcoins have started bleeding against Bitcoin again. Analysts have identified a weakness in the Ethereum, XRP and Cardano price trend. Altcoin Season Index
Altcoins: STEPN (GMT) - What Is It? - A Deeper Look Into the STEPN (GMT) Platform

Altcoins: STEPN (GMT) - What Is It? - A Deeper Look Into the STEPN (GMT) Platform

Rebecca Duthie Rebecca Duthie 19.09.2022 17:47
Summary: What is The STEPN Platform and how does it work? What makes the STEPN exchange unique? STEPN’s present and future price positions. The STEPN (GMT) platform On the Solana blockchain, STEPN is a self-described "Web3 lifestyle app" with GameFi components. It creates a new category called "move-to-earn" by fusing elements of a play-to-earn game and a fitness software. Users purchase NFT sneakers so they can walk, run, or jog while earning in-game currency. By encouraging millions of users to lead healthier lifestyles, STEPN seeks to transform the fitness application business. The app addresses a number of issues, such as "proof of movement" (demonstrating that users actually exercised) and a working GPS system. Additionally, STEPN monetarily pays users, intends to include social reward components, and successfully contributes to carbon neutrality. The app, which works on both Android and iOS, only took five months to go from its initial development to the open beta stage. Following a successful IDO in March 2022, STEPN intends to improve its in-game features and introduce them to a number of additional chains. Proof of performance came from STEPN's proof of concept from that coding contest. The STEPN app employs NFTs to feed data obtained from users' smartphones' accelerometer, gyroscope, magnetometer, and GPS sensors. It is hosted on the quick Solana blockchain. The STEPN program measures a variety of physical activities based on this technology. However, as the name suggests, it focuses mostly on three: walking, jogging, and running. NFT sneakers, which track all activity, are where the revenue and gamification come into play. The longer-term earning potential, however, ensures that there is never a lack of players. Each NFT sneaker has characteristics with STEPN that affect its sell value. Additionally, these qualities can level up through exercise, just like a character in a role-playing game. STEPN (GMT): The primary governance token has a supply cap of six billion. Owners of GMT tokens may use it to cast a vote on the allocation of STEPN funds. Additionally, GMT tokens are used to pay STEPN holders with sneakers level 30 and higher. Green Satoshi Token (GST): A utility token with an unlimited supply that is produced every day. Similar to that, members receive daily payments based on their activity goals. The uniqueness of STEPN STEPN seeks to transform the fitness sector in a number of ways. First, it uses a simple token reward system to encourage people to lead healthier lifestyles. Users can start earning in the game's Solo Mode by purchasing a pair of NFT sneakers after installing the app and creating a wallet. They can gain Green Satoshi Tokens by moving around and moving around quickly (GST). The amount of GST that different types of sneakers can return varies, and the better the efficiency attribute, the more GST the user can make every minute. The gamification of fitness is now introduced, which is STEPN's second groundbreaking component. STEPN gamifies exercise and encourages users to lead healthy lifestyles with the use of the app's in-game awards, daily energy allocations, and personalized footwear. The software intends to include a Marathon Mode in the future, which will have weekly and monthly races between 2.5km and 15km. The top-ranked runners will receive additional benefits. Marathon participants will be able to earn and compare their accomplishments on a leaderboard. Finally, STEPN offers users two methods to signal: by positively influencing carbon neutrality and earning tokens for it, or by leading a better lifestyle and earning tokens for it. The former rewards users financially and emotionally. The second is accomplished by STEPN's financial support of Solana's purchase of Carbon Removal Credits to fight climate change. Present and future prices of The STEPN network (GMT) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, GMT does fall under this category. According to some analysts, the future price of The STEPN network (GMT) could reach up to $7.16 by 2025 and could see a price of more than $38.86 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. STEPN Price Chart Sources: finance.yahoo.com, coinmarketcap.com, makeuseof.com, changelly.com
USD/JPY Weekly Review: Strong Dollar and Yen's Resilience in G10 Currencies

The Bloomberg Grains Index Continues Its Steady Growth, The Lithium Price Hits Record

Saxo Bank Saxo Bank 20.09.2022 09:01
Summary:  Equity markets consolidated some of the recent losses yesterday as traders mull a cavalcade of central bank meetings this week, topped by the FOMC meeting tomorrow. The market has been burned in its attempts at pricing “peak Fed” in recent months and now Fed rate expectations are running steadily higher into tomorrow’s meeting. Can the Fed deliver on the hawkish side of a market that has finally begun to respect what this Fed is all about?   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) Yesterday US equities touched new lows intraday for the cycle lower that started on 17 August, but despite weak sentiment and downward momentum the market turned around rallying into gains. S&P 500 futures rallied 1.9% from its lows to the close and the positive momentum is continuing this morning with the index futures trading around the 3,929 level. The US 10-year yield is still sitting just below 3.5% and any meaningful push above the 3.5% level will likely renew the headwinds for equities. The rally in US equities was driven by no news so the setup feels almost like the rally ahead of the Jackson Hole event and the recent US CPI report. The market wants good news and a positive surprise, but the question is whether the FOMC will deliver that tomorrow. We doubt it believing the Fed will rather fail being too hawkish than being too dovish. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong equities rallied, with Hang Seng Index rising 1.3% and Hang Seng Tech Index (HSTECH.I) climbing 2.3%. Alibaba (09988:xhkg), Meituan (03690:xhkg), JD.COM (09618:xhkg), and Netease (09999:xhkg) surged 3% to 4%. EV stocks rebounded, with XPeng (09868:xhkg) soaring nearly 9%, NIO (09866:xhkg), and Li Auto (02015:xhkg) rising nearly 6%. Macao casino stocks were among the outperformers, rising from 3% to 6% across the board. CSI300 Index was little changed, with solar power, energy storage, and auto outperforming. Major Chinese banks fixed their 1-year and 5-year Loan Prime Rates unchanged this morning. USD traders mull FOMC meeting this Wednesday The US dollar slightly on its backfoot yesterday and overnight as EURUSD criss-crosses parity and USDJPY is locked in a tight range ahead of tomorrow’s FOMC meeting. The degree to which the Fed is able to surprise the market on the hawkish side and trigger another rise in US treasury yields (possibly it as important to see longer US yields rising, not just an adjustment at the front-end of the US yield curve to absorb,  for example, a higher than expected Fed “dot plot” forecast for next year) will determine whether the US dollar is set for another significant surge to cycle highs in the wake of the meeting. AUDNZD breaks higher through major level Despite a nominally dovish set of RBA minutes overnight, AUDNZD leaped to a new six-year high overnight, clearing the 1.1300 level. The diverging current account developments in recent quarters are likely a key driver as Australia features a formidable commodity portfolio and has become a current account surplus nation at a time when New Zealand’s reliance on energy imports has taken a toll on its trade balance, which has gone into a steep deficit. The next focus is perhaps 1.1430, the high from 2015 and highest since AUDNZD traded in a range north of 1.2500 for much of the 2008-2012 time frame. Gold (XAUUSD) Gold putting in a higher low compared with Friday was the takeaway from Monday’s price action. The yellow metal has settled into a 20-dollar range near a two-year low ahead of Wednesday’s FOMC meeting and while the risk of a 1% hike cannot be ruled out, the market seems the be settling for another 75 bp hike, a development that may ease some of the recent selling pressure which has seen speculators flip their positions back to a net short, a relatively rare occurrence. Today’s price action is likely to be just noise ahead of Wednesday with algo-driven strategies likely to be in the driving seat, given the dollar and yield movements the overall say on the direction. Below $1854, last week's low in gold, the market may target the 50% retracement of the 2018 to 2020 rally at $1618. Crude oil (CLV2 & LCOX2) The best that can be said about Monday’s price action in energy is that traders don’t currently know which leg to stand on, a situation made worse by thin liquidity. With another interest rate hike looming and with global growth slowing there are good reasons to call for lower prices. Lower prices were also sought in response to news China may grant export permissions for excess fuel supplies, and the US announcing it will offer an additional 10 million barrels from its strategic reserves. Against these a softer dollar and recovering equity markets and continued worries about Russian supply once the EU embargo begins in early December helped sent Brent and WTI back in black following a near seven-dollar round trip. More of the same can be expected until a clearer picture emerges. US Treasuries (TLT, IEF) US treasury yields continue to trade near the peak of the cycle as the market wonders whether the 10-year can explore new territory for the cycle above 3.50% the cycle high from back in June, as well as whether any adjustment higher in Fed rate hike expectations will be entirely felt at the front end of the yield curve, as the inversion has fallen close to the cycle extreme near –0.50% for the 2-10 yield spread as the 2-year rate pushed close to 4.00%. What is going on? The euro area looks set to enter a recession According to Bloomberg, economists see an 80 % chance of a recession in the euro area in the next twelve months. This now looks inevitable. Last week, Barclays downgraded its 2023 growth forecast for France to minus 0.7 %. The Bank of France also published its three main scenarios for the French economy for next year. A recession is one of them (expected drop in GDP of minus 0.5 %). This is not its baseline, though. The length and amplitude of the recession in the eurozone will highly depend on the evolution of the energy crisis and on the risk of energy rationing. This is a bit too early to know exactly how much GDP will drop next year. Economists also expect that the European Central Bank (ECB) will continue to tighten monetary conditions (financial conditions are still loose in the euro area based on the latest credit growth data). More than half consider a second 75 basis-point rate hike is likely in October. This is only the beginning. It is likely the ECB will continue until early next year (when the recession might be officially announced). Covid vaccine related stocks tumble on Biden declaring pandemic over Shares in Moderna and BioNTech fell 7% and 9% respectively as the Biden administration declared the pandemic for over. The designation follows other countries and will lower the alertness among health care regulators and likely lower the demand for Covid vaccines as only the very high-risk people in the population will get a vaccine and booster shoots. This is worse than expected news for Covid vaccine manufacturers such as Moderna and BioNTech that are now forced to expand their product portfolio to offset this weakness. US NAHB declines for ninth month in a row NAHB Housing Market Index reported its ninth consecutive decline to 46.0, beneath the prior 49.0 and expected 47.0. Save for two panicky months during the early 2020 pandemic break-out, this is the lowest levels cine 2014, but for perspective, the indicator was sub-20 for most of 2008 through 2011. The weaker-than-expected data highlighted the pessimism hitting the US housing market due to the rising mortgage rates, and housing starts may be set to cool further in the coming months. Japan CPI hits a 31-year high Japan’s August CPI touched the dreaded 3% YoY mark from 2.6% previously, coming in at the strongest levels in over three decades and significantly above the Bank of Japan’s 2% target level. The core measure, which excludes fresh food and energy, also come in higher-than-expected at 1.6% YoY. With wage growth remaining restrained, this may mean nothing for Bank of Japan, which remains committed to maintaining its yield curve control policy. However, the markets may start to test the BoJ’s resolve once again, especially with US 10-year yields also touching 3.5% overnight while JGB yields remain capped by BoJ YCC policy at 0.25%. Grains trade mixed but remains in an uptrend The Bloomberg Grains Index continues its steady ascent after hitting a low point two months ago with global weather concerns, dwindling stockpiles and uncertainty about the Ukraine grain deal being the focus. Chicago wheat nevertheless fell on Monday on an expected increase in Russia’s crop that will compete with US exports already challenged by a strong dollar. Soybeans was supported by Chinese export demand while corn traded sideways but finding support at its 21-day moving average. Lithium prices and stocks back at records Lithium equities are back in focus as the lithium price hits a fresh record after tripling in the past year fuelled by electric vehicle demand. Recently the IEA forecast lithium demand to accelerate more than 40 times over the next two decades. The lithium carbonate price has also had an extraordinary run, up 1,000% from its covid low as supply remains a concern. Shares in Albemarle Corp (ALB:xnys), the world’s biggest lithium company and its neighbour Livent (LTHM:xnys), as well as SQM (SQM:xnys), the world’s second biggest lithium producer are on watch with their shares trading near their peaks. US President Biden wows support for Taiwan When being asked in a CBS 60 Minutes interview whether the U.S. would send forces to defend Taiwan in case of military actions from mainland China, President Biden replied: “Yes, if in fact, there was an unprecedented attack.” In answering a follow-up question about if the U.S, unlike in Ukraine, would send forces men and women to defend Taiwan, Biden said: “Yes”. China’s Emerging Industries PMI slightly improved Emerging Industries PMI (EPMI) in China climbed slightly to 48.8 in September from 48.5 in August. The modest improvement was below market expectations and the 48.8 print was the lowest September figure (EMPI is not seasonally adjusted) since 2014 when the survey first started, suggesting weak growth momentum. What are we watching next? Sweden’s Riksbank set for largest hike in decades today The market is divided on whether the Riksbank hikes 75 basis points or a full 100 basis points, either of which would be the largest hike in nearly 30 years. One factor possibly tilting the odds in favour of a larger move is the exchange rate, as EURSEK trades near the range high of 10.90 since 2020, and USDSEK is less than three percent from its all-time high, which was just above 11.00 back in 2001. SEK is traditionally very sensitive to risk sentiment, so a larger hike may only impress beyond a knee-jerk reaction if broader sentiment and the outlook for Europe improves. FOMC meeting tomorrow Many headlines discuss whether the Fed is set to hike 75 or 100 basis points tomorrow. The Fed generally doesn’t like to surprise markets too much, so arguably it is safe in “only” hiking another 75 basis points as the 100-basis point odds are priced rather low. The more likely hawkish surprise scenario is one in which the Fed sets the “dot plot” of Fed policy forecasts for 2023 higher than the market currently expects – possibly as high as 5.00% for the median expectation. Another item to watch is the Fed’s forecast of PCE inflation for 2023 and 2024, together with where it places the first forecasts for inflation in its first set of forecasts for 2025. Earnings calendar this week This week our earnings focus is on Lennar on Wednesday as US homebuilders are facing multiple headwinds from still elevated materials prices and rapidly rising interest rates impacting forward demand. Later during this week, we will watch Carnival earnings as forward outlook on cruise demand is a good indicator of the impact on consumption from tighter financial conditions. Today: Haleon Wednesday: Lennar, Trip.com, General Mills Thursday: Costco Wholesale, Accenture, FactSet Research Systems, Darden Restaurants Friday: Carnival Economic calendar highlights for today (times GMT) 0730 – Sweden Riksbank Interest Rate Announcement 0800 – ECB's Muller to speak 1230 – Canada Aug. Teranet/National Bank Home Price Index 1230 – US Aug. Housing Starts & Building Permits 1230 – Canada Aug. CPI 1700 – ECB President Lagarde to speak 2030 – API's Weekly Crude and Fuel Stock Report Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean Sticher   Source: https://www.home.saxo/content/articles/macro/market-quick-take-sep-20-2022-20092022
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

Ethereum Is In Upward Trend And Is Still In Bullish Mood

InstaForex Analysis InstaForex Analysis 20.09.2022 09:38
Technical outlook: Ethereum climbed through $1,392 during the New York session on Monday before pulling back. The crypto is seen to be trading close to $1,365 at this point in writing and is projected to target up to the $1,800 initial resistance in the near term. Ideally, prices should stay above the $1,279 interim lows to keep the near-term bullish structure intact. Ethereum has bounced off the Fibonacci 0.618 retracement of the larger-degree upswing/rally between $800 and $2,031 as seen on the 4H chart here. Furthermore, it is also the past resistance-turned-support zone around the $1,270-80 mark that has provided the bounce. The bulls seem to be under control for now and are targeting at least $1,800 to go past initial resistance. Ethereum's drop between $2,031 and $1,279 has been in three waves and hence corrective. A continued rally from here towards the $1,790-1,800 levels will confirm that the bulls are poised to push above $2,031 before giving in to the bears again. Only a sustained break below $1,250 will delay matters and might bring back the bears to the market. Trading plan: Potential rally towards $1,800 against $1,279 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 07:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293361
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin Continues Its Downward Trend AndIs Backed By Its Own Mining Hardware

InstaForex Analysis InstaForex Analysis 20.09.2022 09:46
Crypto Industry News: MicroStrategy CEO and Bitcoin (BTC) enthusiast Michael Saylor doubled his support for Bitcoin by clarifying issues related to the transfer of physical property values such as gold, company stocks or equity and real estate during the Australian Crypto Convention. Speaking of the evidence-of-work (PoW) consensus mechanism, Saylor emphasized that Bitcoin is backed by its own $ 20 billion mining hardware and $ 20 billion in energy. He then pointed out that traditional assets such as gold (in large quantities) and land are almost impossible to move beyond geographic boundaries, adding: "If you have property in Africa, no one will want to rent it from you if they live in London. But if you have a billion dollars in Bitcoin, you can borrow it or [...] rent it to anyone in the world. " Saylor also highlighted the high cost of living and taxes associated with long-term ownership and inheritance of physical property that do not exist with Bitcoin. Worldwide geopolitical tensions also determine the type of assets that can be transferred across jurisdictions. Technical Market Outlook: The BTC/USD pair had bounced from the recent low made at the level of $18,239, however the market still trades below the level of $20,000. The levels of $18,940 and $19,300 will now act as the technical support and the next technical resistance is seen at the level of $20,178. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293367
Ethereum Market Is Showing Bullish Signals

The Bears Have Taken Full Control Of The Ethereum Market

InstaForex Analysis InstaForex Analysis 20.09.2022 09:55
Crypto Industry News: Last week we witnessed one of the most anticipated developments in the cryptocurrency industry, ie Ethereum switched to Proof of Stake. At the time of the update, the ETH price was around $ 1,600 and a few hours later it had risen to around $ 1,650. However, it was then that the bears took full control of the market and brought prices down to a 2-month low, i.e. below $ 1,300. At the time of writing, ETH costs around $ 1,340, down almost 8% in the last 24 hours and about 20% from the event mentioned. This has made many believe that the update has turned into what transactions refer to as "buy the rumor, sell the news." In other words, investors bought ETH when the merger date was announced earlier this year and sold it when the actual event took place. Another possible cause of the drop could be that many people may have purchased ETH while waiting for the ETHW airdrop. It is also worth noting that the macroeconomic situation remains difficult and the market is waiting for the last Fed decision on interest rates, which is due later this week. Technical Market Outlook: The ETH/USD pair had broken below the last month's low seen at the level of $1,423 and made a new weekly low at the level of $1,281 before a shallow bounce occurred. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. The next target for bears is seen at the level of $1,281, $1,267, $1,255 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293369
Bitcoin Is Showing The Potential For The Further Downside Rotation

Inflation Also Affects Bitcoin, The Cryptocurrency Situation Is Getting Worse

InstaForex Analysis InstaForex Analysis 20.09.2022 13:07
Bitcoin is once again trading below $20k and is in danger of finally losing buyer support. This threatens to update the local low or form a new market bottom. Fundamental and technical factors indicate a high probability of a bearish scenario. Is the Fed losing control of inflation? The main factor in the fall of Bitcoin's capitalization is inflation in the United States. In August, it seemed that the Fed had worked out a fairly effective mechanism to counter the rise in consumer prices. According to the latest CPI report, the inflation rate fell to 8.3% against the forecast of 8.1%. The disappointing dynamics of the decline in the CPI has become an alarm signal indicating the loss of control of the US Central Bank over inflation. General forecast for BTC/USD In the short term, this means maintaining the Fed's hawkish policy, aggressive liquidity withdrawal, and a key rate hike. After the CPI report, markets had no doubts that the key rate would be increased by at least 75 basis points. It is for this reason that investors are rapidly getting rid of high-risk assets, including Bitcoin. In the medium and short term, the situation is also deteriorating significantly. Powell said in July that the agency plans to leave the rate at a neutral level by the end of 2022. This gave investors hope for the end of the aggressive monetary policy in the near future. The approaching elections to the US Congress in November warmed up the positive markets and allowed us to hope for a weakening of the current policy of the Fed. As of the end of September, markets should lower their hopes for a quick resolution of the situation as inflation falls more slowly than the most modest forecasts. The Fed is in a difficult position as, on the one hand, inflation is becoming unmanageable and, on the other hand, the US economy is entering a phase of a protracted recession. Bitcoin correlation with SPX and DXY The combination of these factors allows us to draw disappointing conclusions for the crypto market and Bitcoin. The key rate will continue to grow, and the liquidity crisis will worsen. This means that BTC will continue to maintain a correlation with stock indices. The US dollar index holds the title of the main financial instrument for the coming months. Therefore, Bitcoin will grow only in the event of a local DXY correction. I would like to dwell in more detail on the situation with the stock market, which directly affects Bitcoin quotes. Analysts say that the price movement of the S&P 500 completely repeats the events of the 2008 global crisis. And considering where the bottom of the index was during the crisis at the end of the 2000s, the SPX expects another and very painful stage of decline. BTC/USD Technical analysis In the short term, there are two options for Bitcoin price movement. Tomorrow, September 21, there will be a meeting of the Fed and a speech by Chairman Jerome Powell, where a key rate increase of 75 bps is expected. Most likely, the market will react calmly, as the current price reduction is a preparation for the disappointing decisions of the Central Bank. However, it is likely that the rate will increase by 100 basis points. In this case, Bitcoin will start to decline and reach the local bottom at $17.7k. Given the general downward direction of the markets, the probability of a new low in the price of BTC is at the highest level in the last month and a half. Unpopular but likely scenario At the same time, there is a possibility of a bullish price rebound above the $20k level. This is hinted at by several important factors, the main of which is the retest of the $18.2k level and the confident defense of the frontier by buyers. The rebound formed a green candlestick with a long lower wick, which may indicate a second or third bottom. In addition, the stochastic oscillator rebounded from the lower border of the bullish zone, which may indicate a local price reversal. Given the general bearish sentiment and the formation of an interesting bullish pattern, we can expect a local rebound in the BTC/USD price after the Fed meeting. However, this probability is estimated at 20%–30%. We should expect that the price will continue to decline or remain flat based on the results of Powell's speech. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 10:00 2022-09-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322144
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Crypto Market Capitalization Increased By Ca. 3%. Could Bitcoin Price Go Below $10K?

Alex Kuptsikevich Alex Kuptsikevich 20.09.2022 10:32
The crypto market has taken a hiatus from the sell-off Market picture Bitcoin has changed little over the past 24 hours, trading at $19.4K on Tuesday at the start of the day. The initial fall was neatly redeemed during active European and US trading amid a rebound in stock indices. Some investors and traders saw the market response as excessive and sought to buy back the market at its current levels. The capitalization of the entire crypto market rose 2.7% in the last 24 hours to 936bn. Both bitcoin and the crypto market continue to receive support near levels of the previous three months' lows, around the $20K and $900B area, respectively. Despite a pause in the sell-off, the technical balance of power is on the bears' side, with the potential to renew the June lows and move into the $12-14K area. Read next: Japanese Yen (JPY) May Be Weak, But Inflation In Japan Is Still Low And It's Good To Know Why| FXMAG.COM News background According to renowned expert Willie Wu, the cryptocurrency market has not yet bottomed out. According to him, if bitcoin fails to stay in the $19K - $20K range, it faces a collapse to $17.6K. However, BTC may only bottom at around $10K. According to CoinShares, investments in crypto funds rose last week after sharp outflows in the previous week. Net inflows of $7 million compared to outflows of $63 million the week before. $17 million Inflows to bitcoin funds contrasted with $15 million outflows from Ethereum funds. Investments in funds that allow shorts on bitcoin rose by $3 million. "The combination of positive and negative flows suggests a continued lack of investor engagement in cryptocurrencies," CoinShares said. After nearly two years of litigation, the SEC and Ripple Labs called on a federal court to immediately rule on whether XRP sales violate US securities laws.
Increase Of Whales Wallets And California's Digital Financial Assets Law

Altcoins: Efinity Token (EFI) - What Is It? - A Deeper Look Into the Efinity Token (EFI) Platform

Rebecca Duthie Rebecca Duthie 20.09.2022 13:40
Summary: What is The Efinity Platform and how does it work? What makes the Efinity exchange unique? Efinity Token’s past, present and future price positions. The Efinity token Enjin created the cross-chain NFT platform known as Efinity, which is based on Polkadot. According to the project, Efinity was developed as the next-generation blockchain for digital assets with the goal of adjusting to the difficulties presented by the non-fungible token market. The NFT space is the Efinity project's primary area of expertise. The protocol allows for the creation, distribution, transfer, sale, and purchase of NFTs by traders and gamers. Efinity intends to make user experience and digital asset administration simpler, as well as to lower barriers to entry into the NFT industry and decentralized gaming. The whole Efinity ecosystem is powered by the Efinity Token, and EFI aspires to give priority to token creation, transfer, and purchase via an inter-chain infrastructure of protocols that will result in decreased transaction costs. In terms of incentives, miners who create/trade tokens and so build a community receive rewards on PoW blockchains with NFT capability. Being a hub for both fungible and non-fungible tokens, accepting tokens from any other chain, enabling the pricing and trade of NFTs, increasing transaction volume, and producing network effects are some of Efinity's long-term objectives. The Enjin team created Efinity, and Witek Radomski (CTO) and Maxim Blagov (CEO) are co-founders of the business. The current market capitalisation of the Efinity Token is $234,862,012. There is a maximum supply of 2,000,000,000 EFI tokens, 100% of these are currently in circulation. The uniqueness of Efinity token Fast transactions and low costs, the use of so-called fuel tanks, support for contracts with multiple signatures, and the adoption of Efinity Swap technology are just a few of the distinctive aspects that set Efinity (EFI) apart from competing blockchain systems. Advantages of Efinity Token Tank for fuel (aka special discrete bills). These wallets' contents are only used to cover transaction costs, giving businesses and developers the chance to foot the bill for customers' out-of-pocket expenses while EFI tokens are supplied to the fuel tank. Low fees and quick transactions. 700–1000 transactions can be processed per second using Efinity (EFI). The speed of transaction confirmation is six seconds, and the end user does not need a blockchain wallet. Quick response times are guaranteed by the process's speed. Equivalence swap The efficiency of the paratoken exchange process is increased by the technology. The automatic conversion method makes it possible to upgrade one paratoken to another for a variety of uses, substantially simplifying the exchanges that are possible through buy/sell orders. The Efinity project's overall goal is to create a future in which NFTs are common and essential to all users, where incentives go to everyone who participates in the network, including traders, developers, and regular token holders, and where all transactions are quick and inexpensive. Past, present and future prices of The Efinity Token network (EFI) The price of Efinity token took off around the middle of 2021 reaching its first price peak in August 2021, thereafter the price fell and rose again, reaching its second peak and overall highest value of $2.06 in late November 2021. Thereafter the price has fallen over time to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, EFI does fall under this category. According to some analysts, the future price of The Efinity network (EFI) could reach up to $0.82 by 2025 and could see a price of more than $ by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. EFI Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com
Cryptocurrency: Bitcoin Price Went Down By 2%, ETH/USD Decreased By 1.7%

Cryptocurrency: Bitcoin Price Went Down By 2%, ETH/USD Decreased By 1.7%

Alex Kuptsikevich Alex Kuptsikevich 21.09.2022 09:42
Market picture Bitcoin fell 2% to $19K in the past 24 hours as the US dollar rose and stock indices resumed their decline. Despite unfavourable market sentiment ahead of Wednesday's Fed rate decision, BTC managed to hold off from updating the previous day's low. Ethereum lost 1.7% to $1335, with prices for the top altcoins ranging from -2.7% (Shiba Inu) to + 7% (XRP), while total capitalisation fell 1.2% to $927bn, according to CoinMarketCap estimates.BTCUSD has been trading near the lower end of the trading range for the last three months. The market's reaction to the Fed's decision later today will determine whether we see a renewal of lows or a retreat from the bottom. The trend of the last month and a half makes a bearish scenario the main one, but still, surprises are not excluded. News background MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851 in early August, according to a report filed with the SEC. MicroStrategy's previous investment in the first cryptocurrency was in June when the firm acquired 480 BTC worth around $10m. Famous cryptocurrency expert Willie Wu said that futures on the CME exchange are putting significant pressure on bitcoin, and this is, to a large extent, political pressure. The SEC approves cryptocurrency futures ETFs but prohibits the launch of spot funds. That said, hedge funds can short BTC with leverage. Real Vision founder Raul Pal believes that Solana and Avalanche, cryptocurrencies with their original blockchains, will repeat the dynamics of Ethereum in the previous cycle in the next bullish cycle. The US exchange Nasdaq is launching a cryptocurrency division that will offer customers digital asset custody services and tools to secure crypto companies.
Altcoins: Energy Web Token (EWT) - What Is It? - A Deeper Look Into the Energy Web Token (EWT) Platform

Altcoins: Energy Web Token (EWT) - What Is It? - A Deeper Look Into the Energy Web Token (EWT) Platform

Rebecca Duthie Rebecca Duthie 21.09.2022 10:40
Summary: What is The Energy web token Platform and how does it work? What makes the Energy web token exchange unique? Energy web Token’s past, present and future price positions. The Energy Web token platform The Energy Web Chain, a blockchain-based virtual machine created to facilitate and promote application development for the energy industry, uses the Energy Web Token (EWT) as its operating token. In June 2019, Energy Web Chain was introduced. The non-profit organization in charge of the initiative is called the Energy Web Foundation. By enabling developers to construct decentralized apps, EWT seeks to diversify the energy business (DApps). Grid operators, software developers, and vendors are just a few of the energetics actors who could gain from the virtual machine. Project Energy Web Token is a collaboration between Grid Singularity and Rocky Mountain Institute (RMI) (GSy). One of the top names in energy-related research and development is Rocky Mountain Institute (RMI). RMI has taken part in numerous ground-breaking energy projects as a renowned think tank. RMI sought to use the decentralized potential of blockchain technology to empower actors in the energy sector to create new decentralized solutions, thus it built the Energy Web Chain. The project benefited from the blockchain expertise of Grid Singularity (GSy). GSy was the driving force behind the development of the Energy Web Chain as a blockchain developer. GSy was a crucial component for the introduction of EWT because it included renowned specialists, core Ethereum blockchain developers, seasoned energy executives, and energy regulators. A proof-of-authority (PoA) consensus is used to run the Energy Web virtual machine. This indicates that the blockchain depends on reliable validators to add new blocks. Compared to the proof-of-work (PoW) consensus, the PoA consensus offers an alternate validation mechanism that allows for quicker processing times. The current market capitalisation for Web Energy token is $118,293,247. There is a maximum supply of 100,000,000 EWT tokens, 30,062,138.00 (30%) are currently in circulation. Web Energy Tokens weakness The Energy Web Chain's creators, RMI and GSy, set out to provide a flexible blockchain solution for a variety of energy-related applications. The ability to totally modify decentralized apps is one of the key selling aspects of EWT for businesses. Energy Web Chain was specifically created for the energy sector, however other blockchains like Ethereum also offer this diversity. Because it was designed with enterprise use in mind, the Energy Web Chain enables cutting-edge scalability and data protection. The organization also just unveiled Energy Web Decentralized Operating System, a tech stack (EW-DOS). Users can use it to remotely control and manage their electrical installations. Advantages of the Energy Web Token (EWT) platform Passive rewards, By providing other services or by sharing their energy resources with the network, users can earn passive benefits. The platform's incentivization concept replaces the current centralized, traditional business model with a more democratic and inclusive one. Regular consumers may now participate in the trillion-dollar energy service markets by joining these energy creation islands. Growing network, More than 100 players in the global energy market make up the Energy Web Token (EWT) network. These businesses cover the full spectrum, from service providers to markets for renewable energy and decentralized energy sources. The Energy Web Token is always looking for new collaborators who share their enthusiasm for a more environmentally friendly market. Past, present and future prices of The Energy Web Token network (EWT) Energy Web Token's price has followed a volatile past since March 2020, hitting its first price peak in August 2020 at $13.04, its second and highest price peak in mid-april 2021 at a price of $19.6. Thereafter EWT’s price has been volatile and on an overall price decline. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, EWT does fall under this category. According to some analysts, the future price of The Energy Web Token network (EWT) could reach up to $11.04 by 2025 and could see a price of more than $71.49 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. EWT Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com, securities.io
Bitcoin: The Bearish Pressure Is Still High, Giants Enter The Cryptocurrency Market

Bitcoin: The Bearish Pressure Is Still High, Giants Enter The Cryptocurrency Market

InstaForex Analysis InstaForex Analysis 21.09.2022 11:45
Crypto Industry News: The second largest stock exchange in the world focuses on development in the digital asset sector. All this in the hope of taking advantage of the growing interest in space on the institutional market. According to a Bloomberg report, Nasdaq Digital Assets will initially only launch custody services for Bitcoin and Ethereum. Gemini Ira Auerbach will lead the new arm of the company, and the department is expected to grow to 40 people by the end of 2022. Nasdaq has already applied to offer digital asset storage services with the New York Department of Financial Services. The document is currently pending approval. If NYDFS approves the application, Nasdaq will become a serious rival to companies like Coinbase and Anchorage Digital. It will also face competition from BNY Mellon and State Street. These two giants of the traditional financial world have also decided to enter the world of cryptocurrencies. The cryptocurrency industry had a difficult year 2021 - Bitcoin, Ethereum and most other major assets fell by more than 70% from last year's highs. Wall Street, however, is increasingly interested in the market, citing the growing demand from institutional clients for Bitcoin and other cryptocurrencies. Blackrock, the world's largest asset management company, teamed up with Coinbase and launched a Bitcoin Spot trust fund last month to help its wealthy clients gain access to cryptocurrencies. Technical Market Outlook: The BTC/USD pair had bounced from the recent low made at the level of $18,239, however the bounce was very shallow and the market keeps trading around the level of $19,000. The levels of $18,640 and $18,563 will now act as the technical support and the nearest technical resistance is seen at the level of $19,347 and $19,679. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293565
Further Development Of Ethereum, The Momentum Of Ethereum Remains Weak And Negative

Further Development Of Ethereum, The Momentum Of Ethereum Remains Weak And Negative

InstaForex Analysis InstaForex Analysis 21.09.2022 11:55
Crypto Industry News: Ethereum co-founder Vitalik Buterin shared his vision of Layer 3 protocols. While Layer 2 protocols focus on "scalability", the next protocols would serve different purposes. Further changes to Ethereum While Ethereum-based Layer 2 solutions focus on scaling networks, Buterin believes their Layer 3 counterparts will serve a completely different purpose - providing "tailored functionality". He shared his thoughts in a post from September 17th, outlining three "visions" of what Layer 3 solutions will be used for in the future. Ethereum co-founder said that the third layer in a blockchain only made sense if it provided a different functionality than layer two. "The 3-tier scaling architecture, which is to lay down the same scaling scheme on top of each other, usually doesn't work well," he said. Except that "a three-tier architecture in which the second and third layers have different goals, can work" he added. One use case for Layer 3 would be what Buterin describes as "customized functionality" by referring to privacy-driven applications. Another use case would be "customized scaling" for specialized applications that do not wish to use an Ethereum Virtual Machine (EVM) to perform computation. Buterin also added that layer 3 can be used for scaling with the Validiums tool. This can be beneficial for enterprise blockchain applications by using a "centralized server that runs validation checks and regularly shortcuts the chain." However, Buterin also noted that since interchain transactions can be performed easily and cheaply between two tiers 2, building tier 3 does not necessarily improve network performance. Technical Market Outlook: The ETH/USD pair had broken below the last month's low seen at the level of $1,423 and made a new weekly low at the level of $1,281 before a shallow bounce occurred. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. The next target for bears is seen at the level of $1,281, $1,267, $1,255 and below. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 08:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293567
Bearish Sentiment Also Dominates The Cryptocurrency Markets

Bearish Sentiment Also Dominates The Cryptocurrency Markets

InstaForex Analysis InstaForex Analysis 21.09.2022 14:03
Bearish sentiments predominate in both crypto and regular markets as investors worldwide await the FOMC meeting and the following interest rate hike by the Federal Reserve. Currently the US central bank is expected to increase the Fed funds rate by 75 basis points. However, some believe that a 100 bps hike could be on the table, as inflation remains a constant issue. Bitcoin was under pressure throughout Tuesday's session. Bearish traders now have a short-term technical advantage as BTC fell below the low of early September. While the situation might seem bleak, it is not hopeless, and Bitcoin could recoup its losses, independent market analysts Michael van de Poppe said. Ethereum continues its attempts to gain momentum after The Merge successfully concluded last week. ETH decreased slightly by 0.25% and hovered at $1,327 at the moment of writing. According to CoinMarketCap, out of the 200 top tokens, the best performing cryptocurrencies over the past day were Helium (HNT), which jumped by 10.48%, Render Token (RNDR), which gained 8.43%, and Syscoin (SYS), which rose by 7.11%. The market capitalization of the crypto market currently stands at $929 billion. The Bitcoin Dominance Index is at 39.3%. Relevance up to 04:00 2022-09-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322264
Crypto: What Could Today's Fed's Rhetoric Mean To... SFM (SafeMoon)?

Crypto: What Could Today's Fed's Rhetoric Mean To... SFM (SafeMoon)?

FXStreet News FXStreet News 21.09.2022 16:13
SafeMoon price has sold off roughly 30% in September alone. SFM price is due for a short move up as the RSI has been trading deeply in oversold. Expect to see a possible return to $0.0003200 before price action starts tanking again. SafeMoon (SFM) price has had a rough ride this September. At the beginning of the month SFM price tried to trade above the 55-day Simple Moving Average (SMA), situated at $0.0004227 at the time. Unfortunately, price action failed to vault this hurdle and slid lower towards $0.0002716, the low of May. Since then it has been reluctant to fall all the way to those lows. The reason: the Relative Strength Index (RSI) has been trading in oversold territory for too long and is due for a small turnaround. SFM price due for a small decompression SafeMoon price has not many reasons to rally higher extensively as tail risks are only getting larger and increasing by the day as geopolitics shake up the markets yet again. Since the beginning of September, SFM price action has been in free-fall and does not look to recover anytime soon. As with every asset class in the markets, sooner or later, some paring back of losses is likely to happen – a de-tensioning of the elastic band pulling SafeMoon price down. SFM price will probably be seen popping higher, helped by Fed comments if it sticks to a 75 bps rate hike, and mentions that it is starting to see significant slowdowns in the economy that will help build the case for smaller rate hikes. On the back of that headline, SFM price could rally towards $0.0003200. That would translate into a 7% gain for the trading day, which, seeing its performance in September, would not be that bad. SFM/USD Daily chart Should the Fed come out more hawkish than expected, however, and follow the move of the Riksbank at the beginning of this week, expect to see a massive wave of more dollar strength come into the markets, triggering a deep sell-off of everything against the greenback, including cryptocurrencies. That would see, although the RSI is in oversold territory, SFM price drop towards $0.0002716. In percentages, that means another devaluation of roughly 8% intraday with the risk that more downside will come when price action closes below that level.
The Bitcoin Price Movement Is In The Bullish Channel

Crypto: 400 ETH As A Price For A... Hacker? Could Bears Make Bitcoin Price Reach $12K?

Alex Kuptsikevich Alex Kuptsikevich 22.09.2022 10:32
Bitcoin In Some Way Affected By Fed Bitcoin is losing 2% over the past 24 hours, hovering near $18.7K at the time of writing. Attempts at intraday gains have been shattered by the adverse market reaction following the Fed's forecasts and comments. BTCUSD has been declining for eight of the last nine days. Total crypto market capitalisation is down 2% to $900bn for the day. Ethereum remains worse than the market, losing 5.5% in the last 24 hours, while the top altcoins are changing in a range of -2.2% (DogeCoin) to +3.5% (XRP). Read next: Fed Rate Hike And Possible Further Tightening Obviously Don't Support Crude Oil Prices. Commercial Crude Oil Inventories Rose| FXMAG.COM Below current levels, Bitcoin has traded for just 17 hours in June, and on a sustained basis, it has not been lower since last November. Barring potentially very minor levels at $17K and $16K, on the chart, there are no meaningful consolidation areas for the first cryptocurrency down to $12K. Going down there looks like a very ambitious task for the bears, even with the current market. Big Prize A US court has ordered Tether, the issuer of USDT, to provide USD reserves data, including account statements from banks and other institutions. Meanwhile, a new bill has been introduced in the US Congress that proposes to ban the creation of algorithmic stablecoins like TerraUSD for two years. The XRP token has risen 22% in the past six days amid a possible SEC court case against Ripple Labs on an expedited basis. Both sides have petitioned the court to do so. "White Hacker" received 400 ETH (about $531k) from Arbitrum for identifying a vulnerability in Arbitrum's protocol code that could have resulted in millions of dollars in lost cash.
Hawkish Fed Minutes Spark US Market Decline to One-Month Lows on August 17, 2023

The Unchanging Situation Of Bitcoin And Yesterday's The Fed Decision

InstaForex Analysis InstaForex Analysis 22.09.2022 11:17
In the last few days before the Fed meeting, Bitcoin lost about 7% of its capitalization. Cryptocurrency quotes reached the dangerous level of $19k, but the bears did not have enough strength to break through it. The outcome of the Fed meeting helped the sellers increase pressure and bring the price of BTC to $18.8k. Results of the Fed meeting Fed members voted unequivocally to raise the key rate by 75 basis points. As of September 22, the key rate is at the level of 3.25%. At the same time, the Fed is actively withdrawing liquidity from the markets, but it is not possible to curb inflation. And here it is worth paying tribute to BBG analysts, who stated that the market lays a high probability of a rate at the level of 4.5% by the end of 2022. Fed Chairman Jerome Powell confirmed these intentions. The agency plans to bring the figure to 4.5% by the end of 2022. This means that the Fed has underestimated the scale of inflation and maintains an aggressive monetary policy. That is why a statement was made about the need to maintain the current policy in 2023. According to the results of the meeting, key rate easing is not planned until the end of 2023. Long term forecasts Considering that the bullish movement of Bitcoin is completely dependent on the policy of the Fed and the movement of the DXY index, this is extremely negative news for the cryptocurrency market. The Fed has signed up for the ineffectiveness of its fight against inflation, and you can forget about the promises to start easing monetary policy in the second half of 2022. Fed Watch believes futures markets have an 89% chance of raising the key rate by 75 bps in November. Given the Fed's theses, this should be the last increase in 2022 in increments of 0.75%. The situation remains negative, and the liquidity crisis will continue to worsen over time. Given this, with a high degree of probability, a significant increase in BTC/USD in 2022 should not be expected. Correlation of Bitcoin and stock indices Analyzing the movement of the price of Bitcoin and actively trading this instrument, it is necessary to pay attention to stock indices. The preservation of the current state of the market, at least until the end of 2022, indicates the continued correlation of cryptocurrency with stock indices. The S&P 500 formed a large bearish candle at the end of yesterday's trading day and started trading inside the support zone. Considering that the price of Bitcoin remained practically unchanged at the end of the trading day, we should expect a similar movement of the cryptocurrency after the opening of the American markets. Bitcoin: Technical analysis As of writing, Bitcoin has broken through the $19k support zone and is trading near $18.8k. It is noteworthy that the price drop was provoked by the bulls' attempt to reach the $20k level. However, the lack of sufficient volumes provoked a price reversal and a breakdown of the $19k support zone. On the daily chart, technical metrics point to buying activity in the $18.8k–$19.1k area. The RSI index and the stochastic oscillator resumed their upward movement in parallel, however, on the chart, we still do not see the bullish momentum working off. Given the fundamental background, there is a high probability that we will not see it. Despite the fierce resistance of the bulls, sellers manage to push the price lower and lower. Gradually, the range of price movement decreases towards the local bottom, which hints at its imminent retest. Over the past week, the price of Bitcoin has tested the final support level of $18.1k twice. The bulls repelled the attack on $18.1k, but there is every reason to believe that after the Fed meeting, the boundary will be broken, and the price will update the market bottom. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 10:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322399
Bitcoin Has Strong Sign That Buyers Are In Control

Bitcoin's Downtrend With No Signs Of Possible Ending Or Reversal

InstaForex Analysis InstaForex Analysis 22.09.2022 11:55
Crypto Industry News: Unsurprisingly, the Fed raised rates by 0.75% again, reassuring those who feared a 1% rate hike, but not preventing a bearish reaction to risk assets, including cryptocurrencies. The largest digital asset in the market by capitalization indeed fell to its lowest level in more than three months after the Fed decision, reaching a low of around $ 18,200. Let us remember that the Fed's rate hike was accompanied by hawkish details, especially with regard to the FOMC members' rate forecasts outlined in the dot plot. The forecasts suggest that the Fed will raise rates by another 1.25% by the end of the year. Considering that 2 more meetings will be held by the end of 2022, rate hikes by 0.75% and then 0.50% are the most likely scenario. In addition, Jerome Powell maintained a largely hawkish tone in his press conference, leaving no doubt that the Fed will continue to fight inflation until it is brought under control. Technical Market Outlook: The BTC/USD pair has made a new marginal swing low at the level of $18,142 after the FED decided to deliver the interest rate hike to the level of 3.25%. Currently the market is trying to bounce from the extremely oversold market conditions on the H4 time frame chart, so the nearest technical resistance is seen at the level of $19,347 and $19,679. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the descending trend line will be considered bullish. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 11:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293816
"From the technical point of view, ETH/USD retested the major broken downtrend line and now it has turned to the upside"

Ethereum Is Still In The Short-term Down Trend, The Draft Law About Stablecoins

InstaForex Analysis InstaForex Analysis 22.09.2022 12:01
Crypto Industry News: A bill on algorithmic stablecoins has appeared in the US House of Representatives. If it is passed, it could in practice lead to a ban on this type of cryptocurrency. The law criminalizes the creation or issuance of new "endogenously secured stablecoins". So, in practice, it is about creating algorithmic stablecoins. However, officials want to give their creators a chance. If the new law comes into force, they will have two years to change the security models of their coins. The definition in the draft law states that these are stablecoins, the price of which depends on the value of another digital asset, which is backed by the same creator, and which were created to maintain the price of that stablecoin. It is not known how officials will approach, for example, synthetix USD (SUSD). The project is now protected by a native asset of the same protocol. Other unclear stablecoins include BitUSD, which is backed by bitshares (BTS). In terms of competences, the bill authorizes the US Treasury Department to carry out analyzes on stablecoins. This one would cooperate with the Federal Reserve, the Securities and Exchange Commission, the Federal Deposit Insurance Corporation and the Office of the Currency Controller. It turns out that the future of the algorithmic stablecoin market may be decided by a vote that is to take place next week. According to the media, the draft act was developed by Democrat Congresswoman Maxine Waters and her Republican colleague Patrick McHenry. Technical Market Outlook: The ETH/USD pair has extended the post-Merge sell-off below the key technical support located at $1,281 as the new swing low was made at $1,219. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. Moreover, the bullish divergence between the price and momentum indicator is seen on the H4 time frame chart, so the bounce might be triggered any time soon. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 11:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293818
Altcoins: FC Barcelona Fan Token (BAR) - What Is It? - A Deeper Look Into the FC Barcelona Fan Token (BAR) Platform

Altcoins: FC Barcelona Fan Token (BAR) - What Is It? - A Deeper Look Into the FC Barcelona Fan Token (BAR) Platform

Rebecca Duthie Rebecca Duthie 22.09.2022 13:26
Summary: What is The FC Barcelona Fan Token and how does it work? What makes the FC Barcelona Fan T exchange unique? FC Barcelona Fan Token’s past, present and future price positions. The FC Barcelona Fan Token (BAR) The FC Barcelona Fan Token (BAR) is a utility token developed in association with Chiliz, a leading global provider of blockchain financial solutions for the sports and entertainment sector. Fan tokens are digital assets with no expiration date that enable their owners to take part in quizzes, contests, and polls that are posted on the Socios.com app, a sports fan interaction platform created by Chiliz and built on Chiliz Chain. The one and only official Barça fan token, $BAR, gives supporters a tokenized say in the direction of their preferred team. The token was developed with the intention of uniting the neighborhood and drawing a large audience by facilitating communication with the soccer club. When the BAR token was introduced in June 2020, it gave its users the option to do surveys on FC Barcelona's activities and the chance to win special prizes. Token owners vote through a smart contract, and FC Barcelona is required to consider the results and put them into practice. Users can participate in competitions for special benefits and team recognition using Fan Tokens as a membership. Tickets to games, special fan events, Socios.com bonuses, club NFTs, and digital badges are among the rewards. Members can also acquire VIP products and services, VIP access to stadiums and match tickets, and exclusive collectibles through BAR. Users have access to the gamified utility and can stake BAR for NFT payouts. The Uniqueness of FC Barcelona Fan token You must have at least one $BAR in order to join the community, start influencing club decisions, and take part in Fan Rewards competitions. However, the quantity of tokens you have determines how much influence you have, and some actions might call for more than one token. Token holders get exclusive benefits like VIP admission to Camp Nou's home stadium, the chance to meet legendary football players, the ability to attend autograph signings, and the ability to purchase team merchandise. Barça uses Socios.com to engage with fans and collect feedback by publishing polls. BAR holders are only permitted to cast one vote, but if a user casts 10 votes, those 10 votes will be counted. Polls are restricted to a fixed number of tokens, decided upon by the club itself, in order to maintain fair results. BAR holders receive VIP access to all home league, cup, and European matches through to the bonus system in the Socios platform. Between a football team and its devoted followers, the Socios.com platform acts as a mediator and offers digital, safe, and transparent revenue streams. Because Socios is built on smart contract technology, the Ethereum blockchain, and a custom crowd control system, users are immune from manipulation and can only cast votes in openly verified polls. The Chiliz Chain is used to create all fan tokens, and Chiliz is also used to power all voting on the platform. Chiliz Chain enables users to securely share data because it uses a public ledger of information that is transmitted through a peer-to-peer (P2P) network, difficult mathematics, and cutting-edge programming codes to store data. The current market capitalisation for this crypto is currently $22,924,240. There is a maximum of 40,000,000 BAR tokens, 3,951,907 (10%) of these are currently in circulation. Past, present and future prices of The FC Barcelona Fan Token network (BAR) The price of BAR token took awhile to take off, BAR hit its first price peak in early March 2021 at a price of $46.77. Thereafter the price has shown volatility and has been on an overall downward trend to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, BAR does fall under this category. According to some analysts, the future price of The FC Barcelona Fan Token network (BAR) could reach up to $17.57 by 2025 and could see a price of more than $108.38 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. BAR Crypto Price Chart Sources: finance.yahoo.com, coinmarketcap.com, technewsleader.com
Analysis Of The Ripple (XRP) Price Movement

The Ripple Rose, Will The XRP Price Trade Up?

InstaForex Analysis InstaForex Analysis 22.09.2022 13:52
The price of Ripple was trading in the green at 0.4265 at the time of writing and it seems determined to approach and reach new highs. Technically, the price action signaled exhausted sellers and a potential upside movement. XRP/USD increased by 27.58% from Monday's low of 0.3398 to 0.4335 yesterday's low. Ripple is up by 5.30% in the last 24 hours and by 26.09% in the last 7 days. Still, a larger growth needs strong confirmation. XRP/USD Downside Is Over! As you can see on the H4 chart, the price came back above the ascending pitchfork's median line (ML) and above the 0.4098 static resistance signaling strong upside pressure. Personally, I've drawn the ascending pitchfork hoping that I'll catch a long opportunity. The price retested the lower median line (LML) validating the pitchfork. Stabilizing above these broken levels mays signal further growth. XRP/USD Forecast! Coming back to test and retest 0.4098 and the median line (ML), registering false breakdowns could announce a fresh bullish momentum from above these broken resistance levels. This scenario could bring long opportunities. Also, a bullish closure above the R2 (0.4350) could activate further growth towards the upper median line (UML).     Relevance up to 13:00 2022-09-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293842
Bitcoin Maintains A Steady Bullish Potential

The Bank of Russia And An Agreement Enabling Cross-border Settlements In Cryptocurrencies, Bitcoin Continues Its Downward Trend

InstaForex Analysis InstaForex Analysis 23.09.2022 09:43
Crypto Industry News: The Russian Federation deputy finance minister Alexei Moiseev said that the draft law that has been prepared contains provisions on "how to obtain cryptocurrency, what can be done with it" and how to use it in cross-border settlements. We also learned that the Bank of Russia and the Ministry of Finance of the country have reached an agreement enabling cross-border settlements in cryptocurrencies. According to Thursday's report by the Russian agency "Kommersant", Russia's deputy finance minister Moiseev said that his ministry had agreed with the central bank regulations that would allow citizens to send cross-border payments using cryptocurrencies. The proposed policy change is said to allow Russian citizens to access digital wallets. "[The Act] generally describes how to acquire cryptocurrency, what can be done with it and how it can (...) be used in cross-border settlements"-Moiseyev said. Russian news agencies also report that the central bank has long discussed the issue of cross-border payments with government officials. The Bank of Russia has reportedly opposed the legal operation of cryptocurrency exchanges and the acceptance of such assets as legal tender. Technical Market Outlook: The BTC/USD pair had bounced from the extremely oversold market conditions on the H4 time frame chart. The nearest technical resistance is seen at the level of $19,347 and $19,679 and only a sustained breakout above this levels would change the outlook to more bullish. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the local trend line might be considered bullish. Weekly Pivot Points: WR3 - $21,295 WR2 - $20,039 WR1 - $19,341 Weekly Pivot - $18,764 WS1 - $18,064 WS2 - $17,526 WS3 - $16,271 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293958
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

JPMorgan's CEO's Reluctance To Digital Assets, The Ethereum Market Is Still In The Short-term Down Trend

InstaForex Analysis InstaForex Analysis 23.09.2022 09:50
Crypto Industry News: Jamie Dimon - CEO of JPMorgan Chase & Co. - he reiterated his unfavorable position towards the cryptocurrency market. This time, in his statement, he described bitcoin and the rest of the digital assets as "decentralized Ponzi schemes." Aside from JPMorgan's CEO's open aversion to digital assets, the international investment bank has been offering its clients some services related to this market for some time. The company has recently announced that it will continue to provide this type of service, despite the downturn on the market. JPMorgan's executives are known for their hostility to cryptocurrencies and especially for their criticism of bitcoin. Dimon spoke about the first cryptocurrency for years, describing it as "worthless". Additionally, he warned investors to stay away from BTC. In his last speech, the 66-year-old banker once again highlighted his negative stance by calling bitcoin and the entire digital asset market "decentralized Ponzi schemes." He argued that criminals use digital currencies to carry out illegal operations, including money laundering and sex trafficking. Despite many examples of attacks on the cryptocurrency industry, especially from the banking sector, the reality shows that it is a bit different. This is because many banks face accusations of involvement in mass money laundering. During this time, the blockchain technology on which the entire cryptocurrency sector is based is completely transparent, which gives everyone the ability to track the flow of funds. To this day, cash remains the most common form in which criminals carry out drug and other drug transactions. According to various studies, it is estimated that from 34% to 39% of all cash in circulation is involved in such activities. Interestingly, Jamie Dimon, despite his aversion to bitcoin, is not at all critical of blockchain technology and stablecoins. He believes that they can benefit the financial system if a number of comprehensive regulations are introduced. A few months ago, the CEO of JPMorgan once again spoke warmly about blockchain technology and decentralized finance (DeFi). At the time, he said that these technologies were "real" and could be "implemented both publicly and privately, with or without consent." Technical Market Outlook: The ETH/USD pair has extended the post-Merge sell-off as the new swing low was made at $1,219. The bulls are trying to bounce, so the corrective cycle is ahead of us. The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. Moreover, the bullish divergence between the price and momentum indicator is seen on the H4 time frame chart. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Despite the extremely oversold market conditions on the H4 time frame chart, the momentum remains weak and negative, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,460 WR2 - $1,386 WR1 - $1,346 Weekly Pivot - $1,312 WS1 - $1,272 WS2 - $1,238 WS3 - $1,164 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281.9. If the down move will extend, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/293960
ByBit talks trading bots. What are they? How can they help?

Cryptocurrency: Bitcoin Up, Ethereum Price Found Support, Ripple Price (XRP) Jumped!

Alex Kuptsikevich Alex Kuptsikevich 23.09.2022 10:17
Ethereum plunged below $1300 Bitcoin has gained 3.8% in the last 24 hours to $19.4K. Quotes have stabilised near the lower bound of the three-month range. Ethereum gained temporary support after falling below $1300 and is up 6.7% in 24 hours. XRP jumped 28% overnight and 66% over the week to $0.54, posting the highest gain among top-100 cryptocurrencies. There are rumours that crypto whales have switched from ETH to XRP after the SEC and Ripple Labs asked the court to speed up hearings for their case. Other top altcoins are rising between 4.5% (BNB) and 7.1% (DogeCoin). Despite this upward move, the technical picture does not yet point to a break in the downtrend, and widespread monetary policy tightening leads us to expect further pressure on markets. On the other hand, we see precious metal prices rising with a 5% increase in crypto market capitalisation over the past 24 hours. This could be the start of a new trend, where investors are looking at alternatives as a safe haven for capital due to concerns over the solvency of countries. Cryptocurrencies amid macroeconomic realties Changpeng Zhao, CEO of the world's largest cryptocurrency exchange Binance, said bearish trends are common and healthy for the crypto market. He said the crypto industry still has room to grow, while inflation and rising energy prices have drawn attention to cryptocurrencies. According to Oklink, the recent drop in Ethereum resulted from miners' activation. Mining pools have dropped almost 17,000 ETH in the last seven days alone. Read next: Forex: Finally Bank Of Japan (BoJ) Intervened! Euro: Could Today's Speeches Support Euro?| FXMAG.COM The final version of the European Draft Crypto Asset Markets Act (MiCA) equates NFTs with securities. Technically, the MiCA is still open for amendments, but other reports suggest that the European Union has finalised the bill's full text.
Oil extends decline, gold edges lower

4 Cryptocurrencies To Keep A Watch On: Land (LAND), Flow (FLOW), STEPN (GMT), Efinity Token (EFI)

Rebecca Duthie Rebecca Duthie 23.09.2022 12:27
Summary: A summary of LAND, FLOW, GMT, EFI. Proof of work, proof of stake, proof-of-history DApps, Investing, Lifestyle. The Land Crypto platform A decentralized platform called Landbox (LAND) provides users with real-time updates and information on international real estate investing. The platform solves the real estate market problem that demands physical attendance, stability, security in transactions, inflexible transaction procedures, limited liquidity, a long gestation period, etc. To address these issues, Landbox has implemented three innovation systems: the Develop Relay Project (DRP), the Prop-Tech System, and the Crypto-Tech System. Landbox aims to create an ecosystem for information sharing where anyone can take part and safely and conveniently share real estate investment information, according to its whitepaper. Users of the Landbox platform can conduct transactions using LAND, the platform's native coin. The users can communicate within the site and with other users by using LAND. Additionally, users can access third-party projects they discovered on the site by paying with LAND tokens. Farmers and ranchers can access land information, tools, and resources through the LandBox platform to assist them in making decisions regarding their land. Farmers and ranchers can manage their crops, cattle, and other assets on their land as well as sell or lease their land through the LandBox platform. The Flow Platform A new generation of games, apps, and the digital assets that fuel them will be built on Flow, a quick, decentralized, and developer-friendly blockchain. The only layer-one blockchain that was first developed by a team that continually provided excellent user blockchain experiences is called Flow: NBA Top Shot, Dapper Wallet, and CryptoKitties. The only blockchain that incorporates usability enhancements into the protocol layer is Flow, which was built from the ground up for mass adoption. Leading brands and developers are already constructing on Flow to enable innovative new experiences with top-notch content. Top entertainment companies, development studios, and venture-backed businesses make up the diverse ecosystem of Flow. Global IP companies like Warner Music, Ubisoft, the NBA, and the UFC are among the partners in the flow ecosystem. Other notable projects among the upcoming class of high-growth firms include Opensea. The STEPN platform On the Solana blockchain, STEPN is a self-described "Web3 lifestyle app" with GameFi components. It creates a new category called "move-to-earn" by fusing elements of a play-to-earn game and a fitness software. Users purchase NFT sneakers so they can walk, run, or jog while earning in-game currency. By encouraging millions of users to lead healthier lifestyles, STEPN seeks to transform the fitness application business. The app addresses a number of issues, such as "proof of movement" (demonstrating that users actually exercised) and a working GPS system. Additionally, STEPN monetarily pays users, intends to include social reward components, and successfully contributes to carbon neutrality. Proof of performance came from STEPN's proof of concept from that coding contest. The STEPN app employs NFTs to feed data obtained from users' smartphones' accelerometer, gyroscope, magnetometer, and GPS sensors. It is hosted on the quick Solana blockchain. The Efinity platform Enjin created the cross-chain NFT platform known as Efinity, which is based on Polkadot. According to the project, Efinity was developed as the next-generation blockchain for digital assets with the goal of adjusting to the difficulties presented by the non-fungible token market. The NFT space is the Efinity project's primary area of expertise. The protocol allows for the creation, distribution, transfer, sale, and purchase of NFTs by traders and gamers. Efinity intends to make user experience and digital asset administration simpler, as well as to lower barriers to entry into the NFT industry and decentralized gaming. Fast transactions and low costs, the use of so-called fuel tanks, support for contracts with multiple signatures, and the adoption of Efinity Swap technology are just a few of the distinctive aspects that set Efinity (EFI) apart from competing blockchain systems. The whole Efinity ecosystem is powered by the Efinity Token, and EFI aspires to give priority to token creation, transfer, and purchase via an inter-chain infrastructure of protocols that will result in decreased transaction costs. In terms of incentives, miners who create/trade tokens and so build a community receive rewards on PoW blockchains with NFT capability. Sources: fxmag.com
Why India Leads the Way in Economic Growth Amid Global Slowdown

Bitcoin Classified As A Risky Asset, The S&P 500 Having A Higher Earnings Forecast For Future

InstaForex Analysis InstaForex Analysis 23.09.2022 11:55
For a long time, bitcoin and US stock indices, hand in hand, walked along the same road. As a result, the 60-day correlation between the S&P 500 and the leader of the cryptocurrency sector reached 0.72, which is slightly lower than the May record. At the same time, the collapse of the stock market, provoked by the increase in the federal funds rate to 3.25% in September, causes less and less panic in the ranks of the BTCUSD bulls. The token managed to cling to the psychologically important level of 19,000. Has it really hit the bottom, or is the crypto winter far from over? The dynamics of bitcoin proves that investors have classified it as a risky asset, the value of which is affected by the Fed's monetary policy. In this respect, BTCUSD's 70% drop from November highs and 60% YTD can be easily explained by the Fed's changing mindset. If in 2021 it was confident in the temporary nature of high inflation and was in no hurry to get rid of monetary incentives, in 2022, everything turned upside down. Raising the federal funds rate from 0.25% to 3.25% and scaling up the quantitative tightening program to $95 billion a month pushed real Treasury yields to levels last seen in 2011. Such a surge in real rates could not but affect the positions of risky assets, which are now in the black. Dynamics of BTCUSD and S&P 500 With 85% of stocks in the S&P 500 having a higher earnings forecast for the next 12 months than before the pandemic, and 81% trading below their values from those days, it seems that the stock index has room to rise. However, it should be borne in mind that at the height COVID-19 pandemic, the profits of companies, especially technology companies, have increased significantly. Their fundamental estimates, on the contrary, fell due to the Fed's monetary restriction. In addition, the stock market does not fully take into account the high probability of a recession, which allows us to talk about the untapped potential for its collapse and is bad news for BTCUSD. Why, then, did bitcoin manage to clutch at a straw like a drowning man? Even with information that the federal funds rate could rise to 4.6% in 2023, in line with FOMC forecasts? In my opinion, it is due to the overflow of capital. Money is running out of stocks and bonds, resulting in higher yields for the latter. At the same time, the presence of the US dollar in the area of 20-year highs suggests that the currency is overvalued. Where else can the capital be directed? Why not in the crypto sector? Whose assets, on the contrary, look oversold against the background of grandiose collapses from the levels of November highs. Technically, on the daily chart of BTCUSD, the bulls do not give up hope of completing the formation of the Broadening Wedge reversal pattern. To do this, they need to raise bitcoin quotes above 22,800. Risky entries into longs are associated with the storm of resistance at 19,800 and 20,200, where the fair value and moving averages are located. Relevance up to 09:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322505
Ripple Has The Potential To Appreciate An Upward Rally

Does Ripple (XRP/USD) Move As Expected This Time?

InstaForex Analysis InstaForex Analysis 23.09.2022 14:23
Ripple extended its growth as expected in the short term. You knew from my previous analysis that XRP/USD signaled strong buyers and an upside continuation. Now, it is traded at 0.4868, far below 0.5582 today's high. The altcoin increased by 64.30% from Monday's low of 0.3398 to 0.5582 daily high. XRP/USD retreated which was natural after its amazing rally. It could test and retest the near-term support levels before jumping higher. XRP/USD Temporary Retreat? You knew from my previous analysis that XRP/USD could resume its upwards movement after coming back above 0.4098 and above the median line (ML). I've told you that a new higher high, a bullish closure above the R2 (0.4350) could activate more gains. Now, it has found resistance at the first warning line (WL1) of the ascending pitchfork. It has registered only a false breakout with great separation before crashing. XRP/USD Forecast! The sell-off could be only a temporary one. The upper median line (UML), R3 (0.4730), and 0.4639 represent downside obstacles. Testing and retesting these levels, registering only false breakdowns could signal new bullish momentum. This scenario could bring new long opportunities.   Relevance up to 14:00 2022-09-24 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294017  
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

NFT: Funko x Warner Brothers - Effect? DC Comics NFTs! Sega And Bandai Namco May Affect Blockchain Gaming

Crypto.com Accelerate the... Crypto.com Accelerate the... 23.09.2022 16:00
NFT marketplace OpenSea has integrated Arbitrum. Funko is teaming up with Warner Brothers for DC Comics’ NFT release. Bandai Namco and SEGA to spur mainstream blockchain gaming adoption. Key Takeaways NFT marketplace OpenSea integrated Ethereum scaling solution Arbitrum. This was carried out on 21 September, adding to the four existing blockchains on OpenSea (Ethereum, Solana, Polygon, and Klaytn). Users are now able to buy and sell all Arbitrum One NFTs on OpenSea. Pop culture retail brand Funko is teaming up with Warner Brothers for DC Comics’ NFT release. DC fans who purchase the physical comic book collectible can connect their crypto wallet and claim the NFT version online, which is minted on the WAX blockchain. Bandai Namco and SEGA are among several video game giants that are working to spur mainstream blockchain gaming adoption. In an interview at Tokyo Game Show 2022, the companies reiterated that they have a long-term vision for blockchain-based gaming. X2Y2 recorded a -32% decrease in sales and a +32% increase in transactions. Meanwhile, OpenSea‘s sales were positive at +41% and its transaction count also increased +53%. The total market cap for GameFi tokens now stands at US$8.82 billion, up +5% from last week. Crypto.com NFT in the Spotlight “Escape From Egret Bridge” is the latest collection in the world of The Longclaw Teahouse, a world inspired by illustrator Fionn Jordan’s travels in Asia Pacific that gets a little bigger with every illustration he creates. Magical cryptocurrency mumbo jumbo was used to transform a sacred text into “Own Every Word”, an NFT project that allows one to own all words ever created. This 500-piece drop boasting brand-new words features 200 special-edition Pirate Booty words with an animated 8-bit background. NFT Highlights OpenSea implements a new protocol that ranks NFT rarity Magic Eden launched ETH aggregator magic Ethen Azuki creator closes in on $30 million fundraise The RENGA NFT collection now accounts for over 14.6% of the total NFT volume New York real estate developer buys first-ever real-life office building as NFT MoonPay and Universal Studios team up to create an NFT-based scavenger hunt NFTs may be the ‘biggest on-ramp’ to crypto in Central, Southern Asia and Oceania: Report Naver and LINE launch NFT platform for K-Pop fans GameFi Highlights Philippines hosts Axie Infinity: Origins Season 1 kickoff party Sweat economy (SWEAT) goes live on Near Protocol, metrics rocketing Play-to-earn gaming platform Vulcan Forged raises $8M in Series A funding Major GameFi company Splinterlands sells out card packs in one minute Immutable’s Guild of Guardians on building trust to onboard traditional gamers NFT Transaction Benchmark     The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $119,000 Minted Cronos Cruisers $1,282,000 Magic Eden Y00ts: mint t00bs $1,915,000 OpenSea RENGA $4,510,000 GameFi Top Gainers & Losers     Top Games Metrics     Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES GAMEFI NFT
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Bitcoin Weekly Forecast: BTC makes a bullish comeback amid regulatory tension, but lacks confirmation

FXStreet News FXStreet News 23.09.2022 15:47
Bitcoin price takes the first step to recovery but needs solid confirmation that will arrive after a flip of the $19,539 level into a support floor. After a successful flip, investors could expect a move up to an intermediate hurdle at $20,737. A daily candlestick close below $17,593 will invalidate the bullish thesis for BTC. Bitcoin price has produced three consecutive lower lows since September 7, but at the same time, the Relative Strength Indicator (RSI) has shown a positive rise demonstrating a lack of underlying bearish power. This lack of confirmation indicates a possible reversal is in sight, and BTC has started to climb higher, but it still faces one of the biggest hurdles and only by overcoming it will it confirm a short-term shift in regime favoring bulls. Stablecoins under fire from US watchdogs While technicals are struggling to develop a firm bias, regulators in the US have taken a serious approach in culling algorithmic stablecoins after the recent collapse of Terra/LUNA that sent shockwaves in the crypto ecosystem. The House of Representatives Financial Services Committee (FSC) has targeted stablecoins such as DAI, FRAX and USDD and proposed a bill that could put a two-year ban on these assets. The reason for this bill can be traced back to the collapse of the Terra-LUNA ecosystem in the second quarter of 2022. In this regard, Rep. Warren Davidson stated, There's an outside chance we find a way to get to consensus on a stablecoin bill this year. While there is a war on stablecoins, Tether, one of the largest issuers of stablecoins, came under fire this week as Katharine Polk Failla, a U.S. Judge in New York, ordered the company to produce documents confirming that all the issued USDT is backed with US dollars. Regardless of the regulatory mayhem, BTC is slowly trying to regain momentum and needs to overcome one crucial hurdle to jumpstart its uptrend. Bitcoin price and its technical woes BTC price is in a tight corner, technically speaking. After forming another swing low at $18,804, BTC price has rallied 7% and is currently grappling with the $19,405 to $19,599 resistance box. August’s lows at $19,539 are key to the outlook, as we shall see. There are two things investors should pay attention to: A flip of the $19,539 barrier into a support level. RSI sustaining above the 43 to 46 support box as BTC flips the aforementioned level. If both these conditions are met, then Bitcoin price would be primed for a move higher. In such a case, BTC will face a significant resistance confluence consisting of the $20,737 resistance level combined with the declining trend line connecting the swing highs since May 31. Clearing these hurdles will not be easy, but it will be necessary to open the path to retest and sweep the previous weekly high at $22,850. Beyond this level, market participants should shift their focus to August’s high at $25,200. This level is significant since it contains the midpoint of the $32,427 to $17,593 range at $25,010. A retest of this level could create a local top for Bitcoin price. BTC/USDT 1-day chart IntoTheBlock’s Global In/Out of the Money (GIOM) model supports this rally in Bitcoin price. This indicator shows that the immediate support level, extending from $9,600 to $18,470, is not as strong as the resistance level but is capable of producing a bounce. The immediate hurdle, however, extends from $19,405 to $28,954, where roughly 5.05 million addresses that purchased 3.1 million BTC at an average price of $22,095 are “Out of the Money.” This resistance cluster coincides with the targets mentioned from a technical perspective, adding more credence to the possibility of a bounce. However, investors should note that a move into the said cluster could result in a sell pressure from these underwater holders who would want to break even. BTC GIOM Another interesting metric that promotes this bullish narrative is the on-chain volume, which has been on a steady uptrend. After dipping to 16.39 billion BTC in the first week of July, it has steadily surged to where it currently stands, 41 BTC. This uptick indicates that more investors are interacting with the BTC blockchain, and hence there is an increase in capital inflow, which is a bullish sign depending on the market structure. BTC on-chain volume While things are looking up for Bitcoin price, investors should be prepared for a whipsaw scenario which would include a sweep of the June 18 swing low at $17,593. This move would be a good opportunity to buy if BTC recovers and sustains above this level quickly. However, a daily candlestick close below the said level that flips it into a resistance level will invalidate the bullish thesis. In such a case, Bitcoin price could crash to $15,500, which is the next stable support level. If the selling pressure continues to spike, the big crypto could trigger a sell-off to $13,500 and $11,989, where a macro bottom for the bear market could form.
Bitcoin Maintains A Steady Bullish Potential

No One Is Surprised That Bitcoin Is Lower, Wall Street Will Substantially Cut Its S&P 500 Targets

Ed Moya Ed Moya 24.09.2022 13:54
Unsettling market volatility is going to be here for a while as Wall Street broadly downgrades their end of year S&P 500 targets. The bond market is telling us they firmly believe Fed Chair Powell has rolled up his sleeves and is ready for this fight with inflation to get ugly. It appears that a hard landing is becoming more likely and that is driving this current round of risk aversion. Every time we get a better-than-expected economic reading, traders are anticipating that will allow the Fed to be even more aggressive with tightening of policy.  Today’s US flash PMIs showed business activity improved and while input-cost inflation cooled.  The rest of the world is seeing strong contraction readings and that will keep the stock market selling pressure widespread.  With one week left in the quarter, Goldman Sachs had to admit they were wrong with their optimistic stock market outlook and sliced their end of year S&P 500 target from 4,300 points to 3,600, which would be below the June low. A lot of traders expected hints of a Fed pivot at Jackson Hole or at the September FOMC policy, but that never happened. A hard landing is becoming the base case scenario for many and that means more economic pain along with a much weaker stock market is coming. How far we go below the summer lows is anyone’s guess.  Over the next couple of weeks, long-term investors may hesitate buying into weakness because it doesn’t seem like any economic data release or Fed speak will convince markets that a downshift from this aggressive tightening campaign will be happening anytime soon.  Downside targets for the S&P 500 include the 3,470 level, which might look attractive for some long-term investors.  FX The British pound collapsed after Chancellor of the Exchequer Kwarteng’s fiscal statement.  Financial markets abandoned bets on the British pound and UK bonds as foreign investors doubt the government will be able to fund this new round of debt.  The British pound is sharply lower on the markets rejection of this fiscal handout that includes both the biggest tax cut in half a century and investment incentives. Oil Oil tanks as global growth concerns hit panic mode given a chorus of central bank commitments to fight inflation.  It seems central banks are poised to remain aggressive with rate hikes and that will weaken both economic activity and the short-term crude demand outlook. The dollar rally is about to enter another level that could keep the pressure on commodities, especially oil prices.  Rig counts continue their steady rise, climbing by 3 and bringing the total to 602. The steady climb in rigs however has not led to any significant increases with US production.  Once WTI crude broke below the $80 level, technical selling was persistent. Despite all the bearishness that is hitting oil prices, economic activity isn’t falling off a cliff. Next week, energy traders will pay close attention to a tropical depression that could become a hurricane that is headed towards Florida.  If the selling remains strong at the start of next week, major support now resides at the $74 level.  Gold Gold continues to get picked on as global bond yields at the short-end of the curve skyrocket.  Everything is going wrong for gold; Strong dollar, weakening jewelry demand as China’s outlook continues to deteriorate, central banks are not focusing on buying bullion, and the bond market remains its worst enemy. If gold’s selling pressure remains, prices could tumble towards the psychological $1600 level. Crypto It is an ugly day on Wall Street and no one is surprised Bitcoin is lower.  Risky assets are getting hit hard as a wrath of global central bank tightening is leading many to think hard economic times are upon us.  Despite today’s crypto weakness, Bitcoin selling has not made a clear attempt at the summer lows. Bitcoin is only $1000 away from June low, so traders will pay close to attention to what happens over the weekend.  Weekend volatility could be interesting here and if a breach of the summer low occurs, don’t be surprised if that does not last until Asia opens on Sunday night. On a day when stocks are down over 2%, you would expect Bitcoin to be down double or triple that and not just around 3% weaker, which could mean many long-term holders remain unfazed.  This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Bio Twitter Latest Posts  
Ethereum Market Is Showing Bullish Signals

Ethereum (ETH) Has A Chance For Potential Growth

InstaForex Analysis InstaForex Analysis 26.09.2022 08:48
Technical outlook: Ethereum dropped through the $1,270 lows over the weekend before finding support again. The crypto might have bounced from the Fibonacci 0.618 retracement of its recent upswing between $1,220 and $1,328 respectively. The crypto is seen to be trading close to $1,295 at this point in writing and is expected to push higher towards $1,800 at least. Ethereum earlier found support around $1,220 which is the Fibonacci 0.618 retracement of the entire rally between $800 and $2,031. Furthermore, $1,220 is also the past resistance-turned-support zone as projected on the chart here. Also, note that an Engulfing Bullish candlestick was produced on the daily chart last week. All the above facts are hinting at a potential rally against $1,200. Initial resistance is seen through the $1,790-1,800 area and the bulls might be targeting the same levels. Only a break below $1,220 will be considered to be bearish as prices might drop towards $1,000 which is initial support as seen on the chart here. Trading plan: Potential rally towards $1,790-1,800 against $1,000 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294128
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Crypto: Microstrategy (MSTR) Bought A Lot Of Bitcoins! Fed Hiked The Rate

Crypto.com Accelerate the... Crypto.com Accelerate the... 26.09.2022 10:16
ETH perps funding rates still negative. MicroStrategy buys more BTC. Fed hikes rates by 75 bps again. Chart(s) of the Week: Hanging On To Their ETH Shorts ETH perpetual future funding rates have somewhat normalised post-Merge after falling precipitously to record negative levels (shorts pay longs) prior to the event. However, they still remain in the red, continuing a largely unbroken streak in negative territory since mid-August. Traders are perhaps still cautious as the short-tilt potentially implies hedge seeking and/or outright directional downside bets. Meanwhile, BTC perpetual futures funding rates have mostly been printing in positive (longs pay shorts) territory during September. Fund Flow Tracker The aggregated exchange balance for ETH dropped sharply over the past week after marking a 6-month high recently. OTC desks balance of BTC has been drifting down and is now at a yearly low. Derivatives Pulse Generally no major movements in implied vols over the past week. 1-month implied vol currently stands at 66.5% (vs. 63.9% a week ago) and 90.9% (vs. 92.3% a week ago) for BTC and ETH, respectively. Skews (puts minus calls) rose during the past week for both BTC and ETH. Leveraged traders’ net-short position and asset managers’ net-long position in CME Bitcoin futures continues to hover around YTD lows.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries.  Price Movements     News Highlights The U.S. Federal Reserve raised interest rates again by 75 bps and signalled that more hikes are coming, at a faster pace and to a higher level than expected. Monetary tightening will likely remain a significant headwind for risk assets, crypto included. Compute North, one of the largest operators of crypto-mining data centres, filed for bankruptcy amid a difficult environment for miners brought about by falling Bitcoin prices, rising energy costs, and record difficulty in mining Bitcoin. The company owed as much as US$500M to at least 200 creditors. Microstrategy bought 301 Bitcoins (BTC) at an average price of US$19,851, between 2 Aug and 19 Sep, bringing its holdings to almost 130K Bitcoins.  Wintermute, a leading crypto market maker, lost around US$160M due to a hack on its DeFi operations. Cardano (ADA) announced that its Vasil hard fork and upgrade went live, bringing “significant performance and capability” improvements to the Cardano blockchain. Catalyst Calendar             Author Research and Insights Team Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Market Pulse (26/09/2022) (crypto.com)
Bitcoin Maintains A Steady Bullish Potential

Bitcoin Price Going Above The $69K In The Near Future? Find Out What Does Michal Saylor Think About It

Alex Kuptsikevich Alex Kuptsikevich 26.09.2022 10:09
Bitcoin is down 4.1% over the past week, ending near $18,900. Ethereum lost 5.8% to $1290. Other leading altcoins in the top 10 showed mixed dynamics, ranging from a 3.7% decline (Cardano) to a 27% increase (XRP). Crypto Market Capitalisation Down! Total crypto market capitalisation, according to CoinMarketCap, declined by 2.4% over the week to $928bn. Cryptocurrency Fear & Greed Index fell by 3 points over the week to 24 ("extreme fear"). Read next: Leaders Must Take Action To Protect The Environment. The Statement By E. Muska Will Cause Confusion| FXMAG.COM Meanwhile, the cryptocurrency market became a safe haven compared to the collapse of major currencies and stock indices. The beginning of the week raises the question, what is behind the relative resilience of cryptos? This market could be forgotten for a while, as all the attention and capital flows are on flagship assets. Alternatively, it could manifest traders' inner confidence that peak fear is near and cryptocurrencies are already cheap enough for long-term investors. Michael Saylor's Prediction Former MicroStrategy CEO Michael Saylor said that bitcoin would surpass the $69K reached in November 2021 in the next four years. BTC could trade as high as $500K in the next decade if its market capitalisation equals that of gold. Judging by bitcoin's simple four-year moving average, its bottom is at $20K, Sailor suggested.Bitcoin's bear market has yet to reach its final stage, and investors should prepare for further declines. Some participants expressed this opinion in a Cointelegraph poll on Twitter. Read next: Lots Of Speeches From The Old Continent, Germany Provides Reports| FXMAG.COM Ethereum co-founder Vitalik Buterin said all cryptocurrencies should switch to the Proof-of-Stake (PoS) algorithm. He believes that over the next 18 months, ETH will become much more scalable, which will significantly reduce transaction fees.Ripple CEO Brad Garlinghouse disagreed with the SEC that Ethereum could be considered unregistered security after the move to PoS.
Bitcoin Has Strong Sign That Buyers Are In Control

New Light On The History Of Cryptocurrency, Bitcoin's Downward Trend Without The Possibility Of Indicating The End

InstaForex Analysis InstaForex Analysis 26.09.2022 11:59
Crypto Industry News: Bitcoin.org, the Internet domain associated with Bitcoin, was created on August 18, 2008 as part of the AnonymousSpeech service, which allows users to purchase domain names anonymously. The AnonymousSpeech domain purchase history shows that the day before, on August 17, 2008, someone purchased a Netcoin.org domain. Was it Nakamoto who at the last minute changed the name of his project to Bitcoin? After careful analysis, Or Weinberger confirmed that no content was associated with the Netcoin.org domain. This domain "was later bought back by another person." The decision to stay with Bitcoin may have been critical to BTC's success as many members of the cryptocurrency community now emphasize their aversion to the Netcoin name. This discovery sheds new light on the history of cryptocurrency. If it were true that Bitcoin was originally supposed to be called Netcoin, why did many of the self-proclaimed Nakamoto's never mention it? Isn't this potential evidence that Satoshi Nakamoto's real identity remains unknown? The Netcoin.org domain was later removed and re-registered with the Web.com subsidiary in 2010. Technical Market Outlook: The BTC/USD pair has been seen continuing to trade inside the narrow zone located between the levels of $18,640 - $19,361 for all the weekend long. The nearest technical resistance is seen at the level of $19,347 and $19,679 and only a sustained breakout above this levels would change the outlook to more bullish. The weak and negative momentum on the H4 time frame chart still supports the short-term bearish outlook towards the level of $17,600 again, but any breakout above the local trend line might be considered bullish. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/294177
Now you can view Bitcoin and Ethereum (ETH) prices on Twitter

Ethereum Co-Founder Buterin Has Urged Zcash To Switch To PoS

InstaForex Analysis InstaForex Analysis 26.09.2022 12:05
Crypto Industry News: Ethereum co-founder Vitalik Buterin believes other blockchain such as Dogecoin and Zcash should follow the same strategy once the Ethereum fusion has ended. When asked during Messari Mainnet 2022 if all networks should go proof-of-stake (PoS), Buterin said yes. Zooko Wilcox-O'Hearn, founder of Zcash, was also present at the conference. Vitalik said: "I predict that as the proof of stake evolves, its credibility will grow over time." This is not the first time Buterin has urged Zcash to switch to PoS. He suggested the same idea in 2018. Ethereum switched to PoS on September 15, following The Merge update. Buterin said the event went smoothly, even though each test network connection encountered "some form of staircase." Buterin identified scalability as the most important challenge for the next 18 months, adding that the ecosystem must "deliver" this. The merger made it possible to drastically minimize the impact of blockchain on the environment. Dogecoin overtook Bitcoin as the second largest proof-of-work (PoW) cryptocurrency. Technical Market Outlook: The levels of $1,358, $1,407 and $1,424 will now act as the technical resistance for Ethereum bulls as the market is trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. So far the bulls were able to stay inside the narrow zone located between the levels of $1,281 - $1,358 as the market had been trading inside the zone all the weekend long. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. The momentum is neutral-to-negative on the H4 time frame chart, which might indicate the ETH is still in the short-term down trend. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade   Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294179
China's Deflationary Descent: Implications for Global Markets

Kiyosaki's Statement On The End Of Fake Dollar And Points To A Safe Haven For Investors

InstaForex Analysis InstaForex Analysis 26.09.2022 13:52
Over the weekend, the rate of ether and bitcoin traded quite calmly within the side channel. However, there is still not enough optimism about a larger upward correction of these trading instruments. But before we talk about the technical picture, I would like to say a few words about the recent advice of the well-loved Robert Kiyosaki—the famous author of the bestseller "Rich Dad, Poor Dad." Kiyosaki recently said that fake money has come to an "end" and gave three tips to help investors succeed in market crashes. Kiyosaki tweeted why, in his opinion, the end of "fake" money has come. "End is here. Called Jerry Williams, my trusted gold and silver dealer. He said: 'I can't get gold or silver coins. The mint will not sell me anymore.' To me, this means the end of fake $ is here." The well-known author echoed his recent recommendation: "As stated in earlier tweet silver going to $100 to $500." His advice was immediately followed by another statement in which he claimed that gold is expensive, calling silver the best investment value to date. Kiyosaki's reasoning is very simple: when President Richard Nixon decoupled the US dollar from its peg to gold, the so-called gold standard, in 1971, the US dollar simply became fake money. The author also recalled three lessons of investing: 1: Your home is not an asset. 2: People who save money are losers. 3: The rich don't work for dollars. Last week, Kiyosaki urged people to "invest in real money," naming bitcoin, gold and silver. He stressed that the Federal Reserve is now doing everything to destroy the U.S. economy amid the interest rate hikes. Kiyosaki urged subscribers to buy cryptocurrency now, ahead of the biggest crash in world history. The well-known author has been claiming for months that he is waiting for the price of the cryptocurrency to bottom out before entering. As for today's technical picture of bitcoin, as I noted above, nothing much has changed since the weekend. The focus is now on the immediate resistance of $19,000, the return of which is "like air" needed in the near future. If this area is broken, you can see a push up to $19,520 and then to $20,000. To build a larger upward trend, it is necessary to break above the resistance of $20,540 and $21,140. If the pressure on Bitcoin returns, and most likely it will, the bulls should make every effort to protect the $18,600 support that has already been tested several times. Its breakout will quickly push the trading instrument back to $18,100 and open the way to update the $17,580 level. Ethereum remains above $1,270 after the recent crash that occurred immediately after the switch to PoS. The most important task for buyers in the current environment is to get back under control of the $1,350 resistance, which will be quite difficult to get above. Its breakdown will lead to stabilization of the market direction and a slight correction to the $1,440 area. The further target will be the $1,504 and $1,550 areas. If the pressure on the trading instrument continues and the rather important $1,270 support is broken, this will push the Ethereum to $1,210 and $1,150, where the big players will again appear in the market. Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 09:00 2022-09-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322638
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Cryptocurrency: Weekly Crypto Market Analysis By Geco.one - 26/09/22

Geco One Geco One 26.09.2022 16:21
Bitcoin (BTC) During its September meeting, the US Federal Reserve decided to raise interest rates by another 75 bp. It is noteworthy that it was the third such a significant hike in a row and the fifth in the monetary policy tightening cycle that has been taking place since March. However, considering last week's rate hike coincided with market expectations, the dot-plot chart, i.e. the so-called dots, shows the outlook for interest rates. These have been increased, and although the Fed recently expected the federal funds rate to rise to a maximum of 3.8 %, it is currently estimated that the peak will be 4.6 %. It means that the Fed will make two more hikes in November and December, the first of which may also amount to 75 bp. All this meant that just a few hours after the Fed's monetary decision, Bitcoin plunged over $ 1,700 from almost $ 19,900 to the region of $ 18,100. Despite the fact that there was a specific demand reaction on the next day, i.e. last Thursday, it seems that the buyers' pressure is too weak to return BTC to the path of growth permanently. Nevertheless, there may be a slight upward rebound in the near future; as a result, Bitcoin's rate will return to the area of ​​previously defeated support (now resistance) of USD 20,650. However, given that this barrier coincides with the 50% Fibonacci correction measurement, a greater supply pressure may reappear in its vicinity, driving another downward rally. If it helps to beat the currently tested support of $ 18,500, Bitcoin could continue its downward rally even toward $ 12,000. Ethereum (ETH) Ethereum fell by almost 32% between September 11 and 21, 2022, beating technical support of $ 1,425. The sell-off only stopped in the following support area of USD 1,245, where there was a slight demand reaction last Thursday. Nevertheless, the ETH has remained in a horizontal trend since then, increasing the risk that the current trend will only be a temporary rebound before another downward impulse. Still, given the reversal of the poles, if ETH rebounded from the $ 1,245 support, we could expect it to rise slightly towards $ 1,425. However, taking into account that this resistance coincides with the measurement of the 38.2% Fibonacci correction from the earlier downward move, a supply reaction could appear in its vicinity, initiating another downward impulse, as a result of which the quotations of this cryptocurrency could slide down to around 1,000 USD. Bitcoin Cash (BCH) Since mid-August this year, Bitcoin Cash has maintained a horizontal trend between $ 112 support and $ 133 resistance. As a result of the depreciation that lasted from September 10 to 21, the BCH stock plunged by more than 23%, putting it not only back in the area of ​​technical support of $ 112 but also slipping below it. Despite this, the quotation of this cryptocurrency did not stay at such a low level for too long, and on the next day, it returned to above $ 112. If this increase continues, the BCH rate could return to the region of $ 122 or even to the region of $ 133. However, it seems unlikely that this will turn into a long-term bull market. Litecoin (LTC) Litecoin fell by more than 25% between September 13-21. This sale even temporarily defeated $ 52 tech support. However, the market quickly recovered above this level and is now being tested again as support. If the LTC rate rebounds from it, we could expect a slight increase towards USD 55.50 in the near future. It seems unlikely, however, that this increase could turn into a larger bull market. There is a much greater probability that it will only be a temporary rebound before the next downward impulse towards USD 47 or even USD 42. Polygon (MATIC) As expected, the increases observed between August 20 and September 12, 2022, turned out to be only a correction, after which the MATIC price returned to the downward path. Between September 13 and September 21, it slumped by almost 27%, beating technical support of $ 0.76 and reaching its lowest level since mid-July this year. Over the past few days, the MATIC has experienced some upward rebound, as a result of which the previously breached support was tested from below (as a resistance). If this barrier is now rejected, the price of this cryptocurrency could return to a downward path, slipping towards USD 0.61, USD 0.45, or even USD 0.32. XRP Looking at the XRP quotes, we will notice that the price of this cryptocurrency increased between 16 and 23 September by almost 74%, thus returning above $ 0.50. This increase stopped only in the area of ​​the technical resistance level determined based on the lows of June and July 2021. This is where the supply response appeared a few days ago. Therefore, if the declines have been taking place since then, the quotations of this cryptocurrency could even slide to the area of ​​previously defeated resistance (now support) in the amount of USD 0.39. EOS Looking at the performance of the EOS, we notice that after rebounding from the technical resistance of USD 1.90, the price of this cryptocurrency has slipped by over 39% over the past days, breaking the upward trend line and horizontal support of USD 1.35 and 1 . $ 25. This sell-off stopped only in the area of ​​the following support of $ 1.15, which we wrote about a week ago. However, if this level is broken, we could expect further depreciation towards USD 1.04 or USD 0.88. Chainlink (LINK) Chainlink quoted last Thursday from the upward trend line, then rose by almost 22%, returning to the technical resistance area of $ 8.10. If this zone is rejected again, we could expect another decline in the direction of the aforementioned upward trend line in the near future. It is the closest support.
Bitcoin (BTC/USD) Hitting One Milion Dollars!? What About (ETH/USD) Price Of Ethereum And Avalanche (AVAX)?

Altcoins: Chiliz (CHZ) - What Is It? - A Deeper Look Into the Chiliz (CHZ) Platform

Rebecca Duthie Rebecca Duthie 26.09.2022 20:27
Summary: What is The Chiliz Platform and how does it work? What makes the Chiliz exchange unique? Chiliz’s present and future price positions. The Chiliz platform The main cryptocurrency for sports and entertainment is called Chiliz, and it is created by a FinTech company based in Malta. It runs the blockchain-based sports entertainment platform Socios, which enables consumers to take part in the management of their preferred sporting organizations. Socios.com's numerous fan tokens are an illustration of that. Fan tokens give athletic clubs and organizations a means to interact with their supporters and open up new revenue streams. Through surveys and polls, for instance, supporters can participate and have a say in club-related issues, such as what should be written on the captain's armband. The business seeks to close the gap between active and passive fandom. With some of the top sports organizations in the world, like FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain, Chiliz has formed agreements. Additionally, it touts affiliations with gaming companies and the UFC. Fans can access a variety of fan tokens by purchasing CHZ, giving them a stake in their team. Several blockchains, including Ethereum, Binance Smart Chain, and Tron, support CHZ. Fans can vote only in openly audited polls since fan tokens are only created on Socios's sidechain using a proprietary crowd control system. A proof-of-authority consensus technique is used by the sidechain. Private companies with closed blockchains and participants solely from its ecosystem typically employ proof-of-authority. It is the best option for a sidechain because it is extremely safe, easily scalable, and less decentralized than other consensus mechanisms. Certik has audited the CHZ token. Chiliz Uniqueness Each sports league using Chiliz technology has a finite number of fan tokens available at an initial FTO (fan token offering). These tokens are available on a first-come, first-served basis, with Chiliz having previously published the opening price and completely diluted market cap. The platform's native CHZ token serves as its internal money and is used to buy fan tokens. Then, using their fan tokens to cast their votes on the Socios platform, users can, thanks to smart contracts. The level of influence fans have is decided by the clubs. The choices might be anything from choosing new jersey designs to assigning teams to exhibition games. Chiliz was the first to directly involve regular sports fans in club and organization decision-making. With the launch of the Chiliz Blockchain Campus, a privately-owned cryptocurrency incubator dedicated to accelerating blockchain technology adoption across Asia and Europe as an example, the business is always developing new ways for fans to interact. Despite having 80–100 teams in its network by the end of 2021, the firm thinks that it is only operating at roughly 10% of its potential. Advantages of the Chiliz platform Team management has evolved into a standalone kind of entertainment. The exercise of voting rights is changed into a transactional activity. Every fan's vote will have an immediate impact on teams competing in traditional sports and esports, as well as other partnered organizations. Present and future prices of The Chiliz network (CHZ) CHZ has had an extremely active year thus far in 2022. When soccer superstar Lionel Messi was announced as a global brand ambassador in a $20 million deal in March, its price increased by 25%. By March, the token had already begun to rise from its 2022 low point of $0.147. The all time highest price for the CHZ crypto $0.626 reached in early November 2021. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, CHZ does fall under this category. According to some analysts, the future price of The Chiliz network (CHZ) could reach up to $0.677 by 2023 and could see a price of more than $1.24 by 2026. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. CHZ Price Chart Sources: finance.yahoo.com, coinmarketcap.com, capital.com
Ethereum Prices Should Hold Above Interim Support To Keep The Bullish Structure Intact

Ethereum Prices Should Hold Above Interim Support To Keep The Bullish Structure Intact

InstaForex Analysis InstaForex Analysis 27.09.2022 09:02
Technical outlook: Ethereum climbed through $1,380-90 during the Asian session on Tuesday after reversing from $1,280-85 over the weekend. The crypto is seen to be trading close to $1,385 at this point in writing and is heading towards $1,450 and $1,550-70 in the near term. Ideally, prices should hold above the $1,270-80 interim support to keep the bullish structure intact. Ethereum had earlier dropped from the $2,031 highs through $1,220, carving a meaningful downswing. Please note that the drop was in three waves and hence corrective in nature. Furthermore, prices found support through the past resistance-turned-support zone and the Fibonacci 0.618 retracement of the entire rally between $800 and $2,031. A high probability remains for a push above $2,031 in the next several weeks. Initial resistance is seen through $1,790-1800 and a break higher will confirm a further upside. A minor rally is expected to reach up to the $1,550-80 zone, which is the Fibonacci 0.618 retracement of the recent downswing between $1,790 and $1,220. Trading plan: Potential rally through $1,790-1,800 against $900 Good luck!   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294334
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

An Arrest Warrant For The CEO Of Terraform Labs| Bitcoin Keeps Its Trend

InstaForex Analysis InstaForex Analysis 27.09.2022 09:13
Crypto Industry News: Despite the fact that the founder of Terraform Labs claims that he is open to cooperation with legal authorities, the South Korean authorities found him elusive, and as a result, in cooperation with Interpol, countries cooperating with the institution were called to detain him. As a result of Singapore authorities' inability to capture Do Kwon, where he is officially arriving, Interpol issued a red note signaling that the charges against him were serious enough to deserve international standing. The red note does not in itself constitute an arrest warrant, as it is a request to the countries cooperating with Interpol to track down and temporarily detain a given person on behalf of the country where the refugee is being sought. Currently, the red note does not appear on the official Interpol website yet. However, according to Bloomberg, authorities in Seoul have confirmed that such a request has been made in the case of Do Kwon. South Korean authorities issued an arrest warrant for the CEO of Terraform Labs two weeks ago, citing violations of local capital laws. At the time, Kwon was believed to be at his home in Singapore. Later, this information was denied by law enforcement, which determined on September 17 that he was not there. Technical Market Outlook: The BTC/USD pair had broken out from the narrow zone located between the levels of $18,640 - $19,361 and made a local high at the level of $20,333 (at the time of writing the article). The nearest technical resistance is seen at the level of $20,473 and $20,580 and only a sustained breakout above this levels would change the outlook to more bullish. The market conditions on the H4 time frame are now extremely overbought, so please keep an eye on the supply zone located at $20,473 and $20,580 for abnormal bearish activity. The nearest technical support is seen at $19,815. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.
Ethereum Could Drop Deeper As The Bias Remains Bearish

The Emergence Of Virtual Australian Currency|Situation On The Ethereum Market

InstaForex Analysis InstaForex Analysis 27.09.2022 09:19
Crypto Industry News: The Reserve Bank of Australia started cooperation with the Digital Finance Cooperative Research Center and presented the technical details of the CBDC to be launched on the market. We learned that the work on the pilot version of the digital currency of the country's central bank will be completed by mid-2023. According to a recent announcement, the RBA released a white paper titled "Australian CBDC Pilot for Digital Finance Innovation" which investigates use cases of an upcoming financial product. To create CBDC, the institution teamed up with the Digital Finance Cooperative Research Center (DFCRC). All this within the framework of a research project that investigated all the technological, legal and regulatory aspects of CBDC. In addition, the RBA enabled financial industry participants to express their views on the interaction of the digital currency with the national monetary network. Ordinary non-institutional test participants could also evaluate the product and test its application. The entire research process is expected to end in early 2023, and the results are expected to be announced by the middle of next year. Recall that in September 2021, the Reserve Bank joined forces with the central banks of Malaysia, Singapore and South Africa to test cross-border transactions using CBDC. The Innovation Center of the Bank for International Settlements also participated in the project, supervising the activities of the above-mentioned financial institutions. Assistant Governor of the Central Bank of Malaysia - Fraziali Ismail - argued that the joint multi-CBDC program "has the potential to leapfrog past payment arrangements and serve as the basis for a more efficient international clearing platform." Technical Market Outlook: The Ethereum bulls are trying to extend the bounce from the extremely oversold conditions on the H4 time frame chart. So far the bulls were able to break out from the narrow zone located between the levels of $1,281 - $1,358 and made a local high at the level of $1,393. The momentum is strong and positive on the H4 time frame chart, so the bounce might extend towards the key short-term technical resistance located at $1,407. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294354
Altcoins: Big Five Token (BFT) - What Is It? - A Deeper Look Into the Big Five Token (BFT) Platform

Altcoins: Big Five Token (BFT) - What Is It? - A Deeper Look Into the Big Five Token (BFT) Platform

Rebecca Duthie Rebecca Duthie 27.09.2022 10:12
Summary: What is The Big Five Token and how does it work? What makes the Big Five Token exchange unique? Big Five Token’s present and future price positions. Big Five Token Platform In terms of technical innovation, Africa has historically trailed behind; the majority of its population has been reduced to using technology as a consumer good. The Nzvedaz Big Five Project seeks to alter that perception by introducing blockchain technology to Africa. The first NFT Marketplace in Africa is being created by our project. They will provide NFT technology to African artists in order to guarantee issues like ownership and royalties through the use of smart contracts to uphold such rights. Additionally, it expands the market rather than remaining limited to the meager amount of visitor traffic. Their metaverse will reflect Africa's diversity, abundance of resources, and variety of flora and animals. Users will be able to virtually scale Mount Kilimanjaro and possess large lands from which valuable natural resources can be mined. Never has African art received its rightful share of the multi-billion dollar market. It is a truth that many works of African art and artifacts have been taken from their native nations and are now on exhibit in museums in Europe. The creators of the works have never received payment. The ownership of works of art or artifacts will benefit from the security of blockchain thanks to the NFT marketplace built on Binance Smart Chain. BFT is a deflationary currency, and there are currently 97 billion tokens in circulation. By the conclusion of the calendar year, the token supply will have been decreased by 8% thanks to our pledge to burn 1% of the entire supply each month. 25% by the end of the second year. The native currency that will be used in the ecosystem has the ticker $BFT. It will serve as the medium of exchange for NFT listings on their marketplace. When a seller sells their NFT, it will be the currency that is utilized to pay final value fees. It will serve as the medium of exchange in their first African metaverse. Early investors that purchase $BFT and hold it will benefit as BFT's value rises with each use-case. Every project that is in the works will put purchasing pressure on BFT. providing a possibility for early adopters and investors to realize returns on their BFT Holding. Value will rise when wide adoption takes hold. There are proposals to increase its applications to address problems like pricey insurance by implementing fractional.   The best cryptocurrency exchange for trading The Big Five Token stock at the moment is PancakeSwap, if you're interested in finding out where to buy The Big Five Token at the current cost (V2). Advantages of the Big Five Token platform The website serves as a decentralized marketplace for trading digital versions of authentic African art or recently issued NFTs. Digitalization is possible for many types of artists, including musicians, writers, actors, and sculptors. The Big Five was the first NFT location to feature African art. The NFT marketplace's native currency will be used to pay for marketplace fees, purchases made there, and to offer liquidity. It will also be used to hold value and advance the blockchain. Purchase and develop land Live, play, and conduct business with other locals in the awe-inspiring African Metaverse. Present and future prices of The Big Five Token network (BFT) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, BFT does fall under this category. According to some analysts, the future price of The Big Five Token network (BFT) could reach up to $0.003 by 2025 and could see a price of more than $0.016 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. BFT Price Chart Sources: finance.yahoo.com, coinmarketcap.com, priceprediction.net, nzvedazbigfive.io  
Apple Let NFTs Be Sold On App Store, Is Walt Disney Gearing Up For Metaverse?

Apple Let NFTs Be Sold On App Store, Is Walt Disney Gearing Up For Metaverse?

Kucoin Blog Kucoin Blog 27.09.2022 10:54
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Crypto Calendar: Events to Watch This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart   The previous week has not impacted the crypto market significantly, as most cryptocurrencies ended up either in the slight green or red. The overall cryptocurrency market volume in the past 24 hours came up to $69.53 billion - a billion less than the previous week. The overall crypto market cap remained under the $1 trillion mark, now totaling $925.06 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's drop below the $20,000 mark has shown to be definitive in the short term, with the largest cryptocurrency by market cap fluctuating around the $19,000 mark. BTC’s dominance is steadily declining, now standing at 38.11%.   The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $18,948.88, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to 1,306.77, down 2.13% in the past week.     Cryptocurrency Market Heatmap | Source: Coin360   The top performers from the previous week were Reserve Rights (RSR), Ripple’s XRP (XRP), and Compound (COMP). RSR has increased by 44.32%, while HT gained 32.58% in the past seven days. Finally, COMP gained 23.04%.   On the other hand, Ravencoin (RVN), Cosmos (ATOM), and Near Protocol (NEAR) were the worst performers of the week. RVN is down 10.75% to $0.037; ATOM is down 9.74% in the last seven days; NEAR is down 8.74% to $3.64.   Top Altcoin Gainers and Losers Top Altcoin Gainers: Reserve Rights (RSR) ➠ 44.32% Ripple’s XRP (XRP) ➠ 32.58% Compound (COMP) ➠ 23.04% Top Altcoin Losers: Ravencoin (RVN) ➠ 10.75% Cosmos (ATOM) ➠ 9.74% Near Protocol (NEAR) ➠ 8.74% News Highlights Here are some of the events that made the previous week's crypto news section stand out:   ETH PoW (ETHW) Gets Listed on KuCoin While Ethereum’s transition from proof-of-work (PoW) to the less power-intensive proof-of-stake (PoS) consensus mechanism has gone smoothly, some members of the community disagreed with the proposed changes.   As a result of this, one part of the community has hard forked the Ethereum network, and created a new cryptocurrency called Ethereum PoW (ETHW).   KuCoin has supported the hard fork, as well as listed the newly-created cryptocurrency on its exchange.   Apple's App Store Demands a 30% Cut from NFT Sales While Apple has allowed NFTs to be bought and sold through their app store on Friday, the tech giant has imposed a commission of 30% on all NFT transactions.   While some developers are negatively surprised by such a high commission, this remains consistent with standard in-app purchase commission on other apps listed on Google Play or the Android App Store.   However, this commission contrasts greatly with regular NFT marketplace commissions, which almost always stay in the ballpark of 2.5%.   Walt Disney Company Looking to Expand to NFTs & the Metaverse The Walt Disney Company is seemingly venturing into the crypto sector - mainly NFTs and the Metaverse. This news came after the company posted a job offering for an “experienced corporate attorney” that would work on technologies such as non-fungible tokens (NFTs) and the Metaverse.   On top of that, the company is hiring a Principal Counsel that would work on handling NFTs, the Metaverse, as well as blockchain and DeFi as a whole.   The rising interest coming from The Walt Disney Company comes as no surprise, as they are the ones that could fully utilize the NFT technology.   Interpol Issued a Red Notice for Do Kwon Interpol has reportedly issued a Red Notice on Terraform Labs co-founder Do Kwon. South Korean prosecutors in Seoul made a public statement on Monday that Interpol issued the notice in response to charges Kwon faces in South Korea - all related to the collapse of the Terra ecosystem.   For those that might not know, a red notice is a “request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.”   Ethereum Merge Causes China’s GPU Prices to Nosedive With the Ethereum network moving to a proof-of-stake (PoS) consensus mechanism, GPU miners have been left without a real alternative. As a result of this, the price of GPUs across the world has started to drop in price.   However, the situation is even more exaggerated in China, where some graphics cards have dropped over 40% in just three months. With the looming recession, as well as the drop in the need for GPU mining, the demand for such cards is significantly less.   The Fear & Greed Index at 21, Market Sentiment Remains Low The fear and greed index has shown no intention of moving up, with the current number sitting at 21. The indicator now indicates “extreme fear,” caused by the up-and-coming recession that will most likely affect the world even more in the winter months.     Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 27/09/2022 - Converge22 ➺ 28/09/2022 - Token2049 Singapore ➺ 28/09/2022 - Theta Network V3.4.0. Upgrade ➺ 30/08/2022 - EOS & Elrond Upgrades   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has been on a slight downturn in recent days, with its price bound by the 21-day moving average. While the price seemingly couldn’t push above the $20k mark, the largest cryptocurrency by market cap is now trying to stay above the $19,000 mark, possibly attempting one more push above the MA.   While a push above the 21-MA sitting at $19,835 could be the spark that pushes BTC towards the $22,850 mark, this move is highly unlikely.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside at $19,850 and $20,960, as well as $22,850. On the other side, analysts state that traders should watch out for $$18,150, as this is the only level separating Bitcoin from the $17,500 level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: ETHW Gets Listed on KuCoin; NFTs, Apple, Disney in the Spotlight| KuCoin
GBP/USD Analysis: GBP Maintains Growth Momentum, Market Awaits US Inflation Report

The Entire Cryptocurrency Market Are At Risk Of Going On A Local Bull Run

InstaForex Analysis InstaForex Analysis 27.09.2022 12:52
The Merge did not have a significant impact on Ethereum quotes, as a full-fledged transition to PoS is just beginning. A significant part of the DeFi sector is in transition and the main altcoin is waiting for several updates before the migration is fully completed. The maximum value from switching Ethereum to PoS will become clear during the next bullish rally. Until then, the altcoin continues to fluctuate in the $1,200–$1,800 range. Over the past 24 hours, the cryptocurrency managed to slightly improve the situation and rise in price by 7%. Ethereum Gives Bullish Signals As of writing, Ether is trading at $1,380 and continues to be bullish. ETH ended the last trading day with a bullish momentum and a small green candle. Most of the buying volumes in the Ethereum network were already formed on September 27. The cryptocurrency has come close to the $1,400 level, which is a key resistance zone. The asset has every chance to gain a foothold above this level at the end of the current trading day. However, it will be possible to talk about a local price reversal only if it successfully consolidates above $1,450. ETH/USD Technical analysis On the daily chart, ETH/USD is showing serious bullish signals. The RSI index has acquired an upward direction, indicating the formation of buying volumes. The MACD indicator is one step away from forming a bullish crossover and resuming upward movement. A strong bullish signal is shown by the stochastic oscillator. The metric has been unable to overcome the oversold zone since September 14 but has subsequently realized a bullish momentum. The indicator has reached the level of 26 and keeps its upward direction. From a technical point of view, the cryptocurrency is approaching the birth of a local upward trend. If it successfully consolidates above $1,450 at the end of the current trading day, the asset has every chance to develop success in the direction of $1,600–$1,800. Reasons for the likely upward trend The main reason for the likely upward trend of the cryptocurrency may be the correction of the US dollar index. The indicator reached a peak value of 114.5 for more than 20 years, after which it began to correct. Given that the DXY technical metrics are in a state of excessive overbought, a deeper correction should be expected. There is also a gradual increase in trading activity. The number of unique addresses and transaction volumes are growing, which may indicate preparations for a local bullish movement. However, it is most likely that a clear jump in indicators will occur if the price successfully consolidates above $1,450. The positive news was the publication of Stanford researchers with the concept of new standards for Ethereum tokens. The study involves the creation of standards for conducting reversible transactions. Management will be carried out by a decentralized system using a voting system. Conclusions Ethereum, Bitcoin and the entire cryptocurrency market are at risk of going on a local bull run due to the DXY correction. The gradual influx of funds into crypto funds hints at an improvement in the investment situation in the market. However, to confirm bullish intentions, Ethereum needs to gain a foothold above $1,450 at the end of the current trading day.   Relevance up to 09:00 2022-09-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322758
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

A Technical Look At The Bitcoin Situation, Bitcoin Jumped Sharply

InstaForex Analysis InstaForex Analysis 27.09.2022 13:42
Technical outlook: Bitcoin jumped sharply towards the $20,200-300 area intraday on Tuesday, after testing the $18,700 lows over the weekend. The crypto has appreciated by around 8% in the last two trading sessions in line with our forecast. It is seen to be trading close to $20,225 at this point in writing and has got room left towards $21,000 at least in the near term. Bitcoin is facing immediate price resistance at around $22,800 and a break higher will open the door to re-test $25,000 and target up to $29,500 in the next several trading sessions. Also, turn attention to the immediate resistance trend line connecting $25,000 and $22,800 highs on the chart. A push through will further confirm that the bulls are back in control. Bitcoin will be facing some resistance at around $20,900 in the near term, which is the Fibonacci 0.618 retracement of recent drop between $20,800 and $18,200. A break through $20,900 will be another confirmation that the bulls are poised to push through near-term resistance and target towards the $29,500 mark. Trading idea: Potential rally towards $29,000 against $18,000 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294417
Unlocking the Future: Key UK Wage Data and September BoE Rate Hike Prospects

Bitcoin Is Booming, Gold Is Rebounding And Oil Prices Are Rising

Craig Erlam Craig Erlam 27.09.2022 14:42
Oil pares losses ahead of next week’s OPEC+ meeting Oil prices are recovering following the sell-off over the last couple of sessions. The prospect of a deeper economic slowdown, perhaps even global recession, has naturally turned traders more bearish on the price of oil as demand would naturally slump in those circumstances relative to prior expectations. Of course, there is another side to that equation, supply. The message from OPEC+ earlier this month was quite clear; it stands ready to adjust supply if fundamentals change or volatility continues and prices no longer reflect the situation. While it has so far resisted the urge to hold an unscheduled meeting, the next showdown is next week so we should soon have a more updated view in light of everything we’ve seen recently. In the meantime, we could see further pressure on oil prices if economic woes continue to dominate and traders want to test the resolve of the alliance in the face of severe global economic risk. In the midst of an inflation and cost-of-living crisis, you have to wonder why the group would want to keep prices artificially high in the short term as it will only make a global recession all the more likely. Gold bouncing back but risks remain to the downside Gold is rebounding after another terrible start to the week that saw it plunge back to $1,620, its lowest level since April 2020. It just goes from bad to worse for the yellow metal as traders continue to flock to the greenback and yields keep rising. The question for gold traders is how close are we to peak rate pricing and inflation. Obviously, the same question is being asked in all corners of the markets and so far, no one really has the answer. With that in mind, it’s hard to build a bullish case for gold. Once we see signs of hitting that peak, we could see a recovery amid continued demand for safe havens. In terms of levels, it’s hard to say where that will come. The first test to the upside now is $1,640 followed by $1,650 and $1,680 but there still could be further pain ahead, with $1,600 being the next obvious test. What’s driving the recovery in bitcoin? Bitcoin is staging a remarkable recovery amid a mild reprieve elsewhere on Tuesday which will no doubt excite a crypto crowd after another rough period. Turmoil elsewhere appears to have lifted bitcoin which has largely traded as a high-risk asset. This will undoubtedly stoke conversations about its role in the new economy, perhaps even reignite claims of its safe haven status. Naturally, I’m far from convinced but it’s certainly intriguing to watch unfold given the chaos we’re seeing elsewhere. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Apple & NFT | Bitcoin Gained On Monday, Glassnode Expects BTC To Trade Between $17-25K

Apple & NFT | Bitcoin Gained On Monday, Glassnode Expects BTC To Trade Between $17-25K

Alex Kuptsikevich Alex Kuptsikevich 27.09.2022 10:35
Bitcoin Price Increased Yesterday Bitcoin rose 1.1% on Monday, and on Tuesday morning, it "shot up" another 5.5%, adding 7.5% over the past 24 hours. This growth momentum has brought the price of the first cryptocurrency back above $20K, in stark contrast to the dynamics of falling markets and a strengthening dollar. Ethereum added almost as much - 7% - rising to $1,385. Against this backdrop, total crypto market capitalisation jumped 5.5% to $970 billion, with top altcoins adding between 2.3% (XRP) and 8.1% (Solana). According to CoinShares, investments in cryptocurrencies rose for the second consecutive week last week. Net inflows were $8 mln, Bitcoin investments were up $3 mln, and Ethereum investments were up $7 mln. Investments in funds that allow shorts on bitcoin were down $5 mln, the first decline in 8 weeks. Read next: The Weakening Real Estate Market In The USA And More Speeches| FXMAG.COM While the Dow Jones index closed at its lowest since November 2020, the Nasdaq100 turned to growth after nearing the lows of June, and cryptocurrencies showed a strong surge. The outperformance of the riskiest assets is more typical of periods of great monetary stimulus. Therefore, the most relevant question is whether we are now see ing the first signs of a market reversal or a trap for naive bulls. NFTs And Apple Bitcoin will continue to trade in a range of $17K to $25K, Glassnode expects. Intense US Federal Reserve monetary policy pressure and an unfavourable macroeconomic climate offset any essential positive developments in the crypto industry. Dan Morehead, CEO of crypto hedge fund Pantera Capital, believes billions of people will use blockchain in the coming years, increasing the value of cryptocurrencies. The SEC has demonstrated that it intends to "damage or destroy the cryptocurrency industry in the US", said LBRY, a decentralised content publishing platform. Technology giant Apple has allowed the sale of collectable tokens (NFTs) in apps on its devices, but the commission will be 30%, sparking outrage in the crypto community.
The G20 And IMF Are Already Preparing Their Crypto Regulation

Michael Saylor Statements That Cryptocurrency Is Better Than Physical Property

InstaForex Analysis InstaForex Analysis 28.09.2022 08:59
On the 4-hour TF, it is even better to see that recently, bitcoin has been moving exclusively sideways, with minimal volatility and exactly along the $18,500 level. Another rebound from this level provoked an upward pullback, but we believe this is an oversold before a new test of the $ 18,500 level, which will be successful this time. Recall that there is also a descending channel on the 4-hour TF, from which the price has not yet tried to exit. Consequently, we have a downward trend in both senior TF. A rebound from the channel's upper border can provoke a new round of downward movement. In the last article, we discussed that "whales" are in no hurry to make new bitcoin purchases, and "hamsters" are waiting for a new trend to join. However, at least one unshakable "whale" is always on the market. We are talking about the Microstrategy company, which, it seems, will soon start selling off its assets and parts of the business to invest in bitcoin. This company may become commensurate with Apple or Tesla, thanks to its investments in cryptocurrency. However, so far, it only makes many people laugh. If we take the average price of bitcoin purchases, MicroStrategy investments are now unprofitable. Whether there will be a new "bullish" trend is still "written with a pitchfork on the water." The world is now in such a state that it is pointless to think of anything for the week ahead. However, Michael Saylor, who is no longer CEO, announced the purchase of another 300 bitcoin coins for $ 6 million. As you can see, this action was not so large that other market participants joined the purchases. The company already has 130,000 bitcoin coins worth $ 4 billion, and I would like to ask why they still need the main software development activity. If bitcoin grows to $ 100,000 per coin, it will bring the company at least $ 16 billion in profit. Also, Michael Saylor continues to make rather strange statements that cryptocurrency is better than physical property. Many of those coins being purchased now will be owned by their children and grandchildren. However, most investors buy bitcoin to extract the fastest possible profit. In any case, even if Bitcoin goes into growth again, technical buy signals are needed. There are none now. In the 4-hour timeframe, the "bitcoin" quotes completed an upward correction. We believe the decline will continue in the medium term, but we must wait for the price to consolidate below the $17,582-$18,500 area. If this happens, the first target for the fall will be the level of $ 12,426. The rebound from the level of $18,500 (or $17,582) can be used for small purchases, but be careful – we still have a strong downward trend.   Relevance up to 16:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322820
More And More Universities Are Including Metavers In Their Education Program

More And More Universities Are Including Metaverse In Their Education Program

InstaForex Analysis InstaForex Analysis 28.09.2022 09:37
Crypto Industry News: There is a growing number of universities and educational institutions that include metaverse in their educational programs. Now the University of Nanjing, located in East China, has joined this group. Nanjing University of Information Technology and Technology changes the name of one of its main faculties, the Faculty of Information Engineering, to the "Faculty of Metaverse Engineering". This is to integrate more metaverse courses. According to the sources, this may be the first section of an educational institution in China to contain the word "metaverse". Mr. Zhigeng, dean of this transformed faculty, said the move will contribute to the university's integration with virtual reality enterprises. Its aim is to better identify the needs of current and future metavers users and train more talents in this regard. Zhigeng also announced that students will be better qualified to work in three different areas, including smart healthcare, smart education and digital tourism. To develop the university in these segments, the faculty will establish three different working groups: the Metaverse Research Institute, the Smart Meteorological Research Institute, and the Smart Medical Research Institute. Technical Market Outlook: The BTC/USD pair breakout had been capped after hitting the supply zone located between the levels of $20,221 - $20,580 Only a sustained breakout above this levels would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are neutral-to-negative and the momentum might be going lower. The nearest technical support is seen at $18,640 and $18,563. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294544
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

The Mood And Future Of The Ethereum Market| Statements By Ethereum Miners

InstaForex Analysis InstaForex Analysis 28.09.2022 09:43
Crypto Industry News: We are almost two weeks after the historic moment of the Merge, i.e. the transition of the Ethereum network to the Proof-of-Stake model. Due to the abandonment of ether extraction with the existing PoW model and the failure to take off the ETHPoW blockchain resulting from the fork, many former ETH miners complain that they have no idea what to do next. Following the merger, many ETH mining professionals began discussing their future on Twitter. Internet services have contacted several former Ethereum miners to find out what their plans are. The information obtained shows that the mood in this community is currently gloomy, as for many miners nothing is clear about the next steps. Former miner Christian Ander told the service: "Honestly, I don't know which way to go yet. Selling GPU power to other compute-intensive services isn't as profitable as mining ETH. I'm researching myself, and my colleagues are looking for new options for themselves." The former miner recalls that "GPU owners are researching and selling their devices' computing power to another cryptocurrency project, and when energy prices are very high, they shut down and sell excess power to the grid." Ander admitted that he is not mining any cryptocurrencies at the moment and is only observing the market. Another former Ethereum miner, Kevin Aguirre, said he sold his equipment to a person who is now using it to mine other coins. However, it states: "I have a little bit of regret about how the adventure with my mining machine ended, but it finally supported me and my family during the pandemic." At a time when Ethereum used the Proof-of-Work algorithm, GPUs were quite popular. After the Merge almost two weeks ago, GPU manufacturers began to record heavy losses. Technical Market Outlook: The ETH/USD pair had reversed all the recent gains made after the bounce to the level of $1,399 and is currently trading around the demand zone seen between the levels of $1,288 - $1,257. After the aggressive and dynamic reversal, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294546
RBA Pauses Rates as Australian Dollar Slides; ISM Manufacturing PMI in Focus

Powell Touched On The Topic Of The Digital Dollar And The Crypto Industry

InstaForex Analysis InstaForex Analysis 28.09.2022 11:56
Yesterday, the next speech of the Chairman of the Federal Reserve System, Jerome Powell, took place. In his speech, he touched on the topic of cryptocurrencies and, in particular, decentralized finance (DeFi). Coincidence or not, bitcoin and ether reacted with a sharp decline to the statements, which led to the return of trading instruments to quite dangerous levels. But before we discuss the technical picture, let's deal with the statements. At a panel discussion on digital finance organized by the Bank of France, Federal Reserve Chairman Jerome Powell spoke about the planned regulation of decentralized finance. "The normalization of monetary policy worldwide is very important for the future. We must deal with structural problems in the Defi ecosystem and conflicts of interest." First, one of the most important problems that Powell drew attention to is the structure of transparency. "The good news is that, from the point of view of financial stability, the interaction between the Defi ecosystem, the traditional banking system, and the traditional financial system is not so great at the moment. The recent sharp collapse of DeFi has not significantly impacted the banking system and financial stability in general," Powell said. According to the official, it is necessary to do a lot of work with regulations, but it should be done carefully and thoughtfully. The Chairman of the Federal Reserve System warned that the uncontrolled situation in the crypto industry would not continue indefinitely. There is now a real need for more substantive regulation so that as Defi expands again and begins to cover more and more retail customers, there will be appropriate regulation. It is worth noting that Christine Lagarde, President of the European Central Bank, and Agustin Carstens, Director General of the Bank for International Settlements, also participated in the discussion. The head of the Fed also noted the risk of using stablecoins in a broader sense and the need to develop legislation in this direction. Powell also touched on the topic of the digital dollar, saying that it will take several more years of research before the Fed decides to issue it or not. As for today's technical picture of bitcoin, as I noted above, the failure of the trading instrument and the return to the framework of the side channel took place quite quickly. This indicates that investors have no interest in risks. The focus is now on the $19,000 resistance, the return of which is necessary to build a new upward correction in the pair. In the case of a breakthrough in this area, you can see a dash up to $19,520 and into the $20,000 area. To build a larger upward trend, you need to break above the resistances: $20,540 and $21,410. If the pressure on bitcoin increases, and all the prerequisites for this, the bulls should make every effort to protect the support of $18,625, just above which trading is now underway. Its breakdown will quickly push the trading instrument back to the lower border of the $18,100 side channel and pave the way for an update of the $17,580 level. Ether has again failed to reach the significant support of $ 1,275, and now there is a risk of building a new bear market. A breakdown of $1,275 can lead to significant changes in the market. Only a fix above $1,343 will somehow calm the situation and return the balance to the ether. Consolidation above $1,343 will stabilize the market direction and push the ether to another correction in the area of $1,402 and $1,457. The further targets will be the areas: $1,504 and $1,550. If the pressure on the trading instrument remains and at the breakdown of $1,275, we can see a new movement of the trading instrument down to the support of $1,210. Its breakdown will push the ether to $ 1,150, where major players will manifest themselves in the market again.   Relevance up to 10:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322886
LFG Has Not Created Any New Wallets| Do Kwon  On The Interpol Wanted List

LFG Has Not Created Any New Wallets| Do Kwon On The Interpol Wanted List

InstaForex Analysis InstaForex Analysis 28.09.2022 12:11
While bitcoin and ether are rapidly falling and returning to their annual lows to break through and collapse even lower, South Korean prosecutors are trying to freeze 3,313 bitcoins on two cryptocurrency exchanges, allegedly associated with the founder of Luna, Do Kwon. The coins were moved shortly after a South Korean court issued an arrest warrant for the Terraform Labs co-founder. It is reported that the South Korean authorities have asked several cryptocurrency exchanges to freeze 3,313 bitcoins allegedly associated with the co-founder of Terraform Labs. The coins were transferred to trading platforms shortly after a warrant for Kwon's arrest was issued in South Korea. Yesterday, a representative of the Prosecutor's Office of the Southern District of Seoul said they have evidence that 3,313 BTC belongs to Kwon. The coins were transferred to trading platforms from a wallet allegedly linked to the Luna Foundation Guard (LFG), which was created on September 15. Cryptoquant, the company that handled the investigation, said that the new bitcoin addresses belong to LFG. This conclusion was made based on transaction patterns, related flows, and significant non-public information. By yesterday evening, the Luna foundation rejected the involvement of this cryptocurrency. On Twitter, the company published the bitcoin address of its wallet, adding that LFG has not created any new wallets and has not moved BTC or other tokens that it owns since May 2022. Meanwhile, the location of the founder of Luna is unknown, and he no longer gets in touch. He was believed to be in Singapore, but earlier this month, Singapore police said he was currently out of town. Back on Monday, Kwon tweeted that he was not on the run. Let me remind you that on September 14, a South Korean court issued an arrest warrant for Kwon. He is accused of fraud after the collapse of the Luna cryptocurrency. In addition, it is reported that the Ministry of Foreign Affairs of the country plans to cancel his passport. Yesterday it became known that Interpol had put the co-founder of Terraform Labs, Do Kwon, on the wanted list. The "red notice" that has been issued allows South Korea to receive assistance from law enforcement agencies around the world in finding and arresting a person awaiting extradition, extradition, or similar judicial action. As for today's technical picture of bitcoin, as I noted above, the failure of the trading instrument and the return to the framework of the side channel took place quite quickly. This indicates that investors have no interest in risks. The focus is now on the $19,000 resistance, the return of which is necessary to build a new upward correction in the pair. In the case of a breakthrough in this area, you can see a dash up to $19,520 and into the $20,000 area. To build a larger uptrend, you need to break above the resistances: $20,540 and $21,410. If the pressure on bitcoin increases and all the prerequisites for this, the bulls should make every effort to protect the support of $18,625, just above which trading is now underway. Its breakdown will quickly push the trading instrument back to the lower border of the $18,100 side channel and pave the way for an update of the $17,580 level. Ether has again failed to reach the significant support of $ 1,275, and now there is a risk of building a new bear market. A breakdown of $1,275 can lead to significant changes in the market. Only a fix above $1,343 will somehow calm the situation and return the balance to the ether. Consolidation above $1,343 will stabilize the market direction and push the ether to another correction in the area of $1,402 and $1,457. The further targets will be the areas: $1,504 and $1,550. If the pressure on the trading instrument remains and at the breakdown of $1,275, we can see a new movement of the trading instrument down to the support of $1,210. Its breakdown will push the ether to $ 1,150, where major players will manifest themselves in the market again.   Relevance up to 10:00 2022-09-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322892
Altcoins: FUNToken (FUN) - What Is It? - A Deeper Look Into the FUNToken (FUN) Platform

Altcoins: FUNToken (FUN) - What Is It? - A Deeper Look Into the FUNToken (FUN) Platform

Rebecca Duthie Rebecca Duthie 28.09.2022 12:31
Summary: What is The FUNToken Platform and how does it work? What makes the FUNToken exchange unique? FUNToken’s past, present and future price positions. The FUNToken platform An asset created exclusively for the online gaming and gambling sector is the FUNToken. The Ethereum blockchain's advantages are combined with a cutting-edge tech stack in FUNToken, making FUN a potent tool for gamers, platforms, and developers alike. FUN backs the advent of new digital game era: Quick - Use the XFUN Layer 2 token for quick wallet-to-wallet and in-game transfers to extend your playing time. Transparent - Decentralized, openly logged, and traceable transactions. Processes are streamlined and made easy with Seamless - FUNToken, an ERC20 token on Ethereum with a Layer 2 token called XFUN in Ploygon. Open - Anyone can use FUNToken's power, including players, developers, and dapps. Safe – FUNToken ownership is fully anonymous. By actively encouraging additional gaming operators to benefit from the FUNToken ecosystem and player base, existing product development and extension has increased the token's use. The XFUN on Polygon, which is quicker and less expensive than Ethereum, has just been released by FUNToken. Only through a 1:1 bridge mechanism with FUN is this token accessible. In order to purchase the new token, users must escrow their FUN, which lowers the trading supply and ultimately raises demand. The XFUN Wallet, made available by FUNToken in the Google Play and Apple App stores, offers a safe, non-custodial means to store and transfer both XFUN and FUN. Transactions on the XFUN Wallet are frictionless and quick thanks to the absence of gas. The FUNToken will continue to hold its value in the future thanks to a calculated quarterly burn of 50% of any earnings. As an ERC-20 token built on Ethereum, FUN uses the proof-of-stake (PoS) consensus algorithm. Proof-of-stake (PoS) was developed as a substitute for the proof-of-work (PoW) consensus employed by Bitcoin. PoS distributes mining power depending on already obtained tokens, whereas PoW requires a considerable amount of processing power to mine tokens. Numerous analysts point out that PoS is an easily scalable consensus technique that offers more use case flexibility. Consequently, in recent years, this consensus method has become much more widely used. The FUNTokens Uniqueness By easing tension between players and operators and returning control of player funds to players, FUNToken aims to change a flourishing industry. With the quick, gas-free operation on Polygon now accessible via mobile wallets, FUNToken is founded on standards and offers a scalable and reliable way to access decentralized applications. The current market capitalisation for FUNToken is currently $79,585,123. There is a maximum supply of 10,999,873,621 tokens, 100% of which are currently in circulation. The Advantages of FUNToken Speed, make the most of your gaming time with quick wallet-to-wallet transfers. Secure, FUNToken ownership is protected via non-custodial wallets and is anonymous. Seamless,they are ERC20 tokens, FUN/XFUN. The blockchain streamlines and speeds up business procedures. Open, everyone may utilize the power of FUN, including users, communities, and developers. Transparent, decentralized, transparently recorded, and traceable transactions are used. FUN IS TRADEABLE AND LIQUID, The best aspect is that FUN is also traded on significant exchanges including Binance, Uniswap, Gate.io, HitBTC, and BitFinex. To purchase FUN, click on the logo of your preferred exchange below, or select "Buy FUN Tokens" to do so using the Rubic widget. Past, present and future prices of The FUNToken network (FUN) In Early 2018 the price of the FUN token reached its first price peak and its highest price at $0.1728. Since then the price has fallen consistently. In early 2021 the price began to rise again, but has since found a stable price throughout 2022. Over the past 6 months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FUN does fall under this category. According to some analysts, the future price of The FUNToken network (FUN) could reach up to $0.035 by 2025 and could see a price of more than $0.22 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FUNToken Price Chart Sources: finance.yahoo.com, coinmarketcap.com, funtoken.io, technewsleader.com
Central Bank Policies: Hawkish Fed vs. Dovish Others"

The Fed Plans To Address The Regulation Of Unattended Wallets

InstaForex Analysis InstaForex Analysis 28.09.2022 12:36
Jerome Powell, Chairman of the US Federal Reserve, said that the central bank is not going to issue a digital dollar anytime soon. "We do not see ourselves making that decision for some time," Powell said on Tuesday, speaking remotely about the role of central banks in digital markets to global financial leaders and cryptocurrency regulatory experts attending a conference in Paris. Powell indicated that the central bank would instead work in collaboration with Congress and the executive branch to assess policy and technology issues. This includes a multi-year period during which the Fed will focus on "building public confidence in our analysis and ultimate conclusions, which we certainly haven't reached yet." The central bank chairman also said the Fed would need White House and Congress approval to proceed with issuing a digital dollar. Regarding the criteria required for a central bank to create a CBDC, Powell identified four key characteristics: intermediation, privacy protection, identity verification, and interoperability. "We would be looking to balance privacy protection with identity verification, which has to be done in today's traditional banking system as well." Powell said. According to him, the Fed's sharp interest rate hike this year contributed to the collapse of some stablecoins and a significant drop in the value of cryptocurrencies, which led to the onset of a "crypto winter" and revealed "significant structural issues" that exist in decentralized finance (DeFi). Moreover, he said that the ongoing decline in the cryptocurrency market gave regulators more time to fully assess the capabilities of the digital dollar, identify weaknesses and adopt appropriate rules, noting that the crypto winter did not have a significant impact on financial stability and the banking system as a whole. "This demonstrates the weaknesses and work that needs to be done," Powell said, referring to problems with the structure and transparency of DeFi. "Crypto winter gives us a little bit of time. That situation will not persist indefinitely." Issues such as the need to regulate unattended wallets or algorithms have been identified as examples of issues requiring more work. Powell emphasized the need to develop appropriate regulations in the future as DeFi gains popularity and attracts more retail investors.   Relevance up to 09:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/322884
"From the technical point of view, ETH/USD retested the major broken downtrend line and now it has turned to the upside"

Ethereum Is Seen To Be Working On Its Recent Bearish

InstaForex Analysis InstaForex Analysis 28.09.2022 14:09
Technical outlook: Ethereum dropped close to $1,250 intraday on Wednesday before finding some support. The crypto bounced through the $1,305-10 zone thereafter and is seen to be easing off a bit towards $1,290 at this point in writing.The bulls might be inclined to push through the $1,540-50 levels at least before giving in to the bears again. Also, note that the backside of the support trend line would offer resistance at around $1,550. Ethereum earlier dropped through $1,220 after reversing from $2,031 seen on the 4H chart here. The possibility still remains for a strong rally to carry prices above the $2,031 resistance in the next several trading sessions. The bulls need to break above the $1,800 initial resistance to confirm a further upside thereafter. Ethereum is seen to be working on its recent bearish swing between $1,800 and $1,220. The potential resistance zone is seen towards $1,550 which is the Fibonacci 0.618 retracement of the above drop (not shown here). Only a break above $1,670-1700 will confirm that the bulls are back in control. Trading idea: Potential rally through $1,550 at least against $1,000 Good luck!   Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294640
Cryptocurrency: The end of crypto exchange Voyager journey?

The Red Note And Frozen Bitcoins| The BTC/USD Pair Has Bounced again

InstaForex Analysis InstaForex Analysis 29.09.2022 09:45
Crypto Industry News: According to recent reports, South Korean authorities have ordered the OKX and KuCoin cryptocurrency exchanges to freeze funds associated with Terra's founder, Do Kwon. In total, the platforms froze over 5,000 BTC, which is around $ 60 million at the current market price of bitcoin. South Korean authorities have launched an investigation against the founder of Terry (LUNA) and the company behind the cryptocurrency, Terraform Labs, the website said. The country's services concluded that Do Kwon allegedly violated domestic securities laws and issued an arrest warrant for him. The International Criminal Police Organization (Interpol) joined the efforts of the South Korean authorities and issued the so-called The Red Note, Kwon's actual arrest warrant. Interestingly, however, the most interested himself denies that he is hiding at all. "I am writing the code in my living room (...). As I said, I do not try to hide, I go for walks and shopping malls, there is no way that any [members of] CT have run into me in the last few weeks" - he wrote on Twitter. Now law enforcement has begun seizing Kwon's financial resources. According to media reports, founder Terry started transferring funds related to the Luna Foundation Guard (LFG) from the wallet to the exchanges. LFG is an entity created by Terraform Labs to protect the course of the fallen algorithmic stablecoin, TerraUSD (UST). These funds were allegedly community controlled, with no control from Kwon or other company employees. However, a journalistic report suggests the funds were transferred from the wallet to the stock exchanges between September 15 and 18. Around 3,300 BTC went to KuCoin and around 1,950 to OKX. The funds in bitcoin were sent in a few transactions. Technical Market Outlook: The BTC/USD pair has bounced again from the narrow zone lows around the level of $18,640 towards the middle of the zone. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, but the momentum is not strong at all. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294767
A Truce Between Cardano And Ethereum| Ethereum Movements

A Truce Between Cardano And Ethereum| Ethereum Movements

InstaForex Analysis InstaForex Analysis 29.09.2022 09:50
Crypto Industry News: The Cardano network has always been a competition to the Ethereum blockchain. Of course, this has translated into competition between communities centered around the two chains. This time, however, Cardano founder Charles Hoskinson surprised everyone. He proposes a truce. In a Twitter thread, Charles Hoskinson shared his thoughts on Ethereum and its community. Let us recall that he cooperated with Ethereum (although only for six months and almost ten years ago). Perhaps because of his personal animosities, Hoskinson is sometimes critical of Ethereum. Then he founded Cardano. Today, he seems to be pained by the fact that the Ethereum community continues to ignore the advances Cardano has made over the years. "I've pointed out repeatedly that the top engineers of Ethereum have completely ignored Ouroboros in the last five years," Hoskinson wrote in a tweet. He further argued that this only harms the entire cryptocurrency and blockchain community. He urged users to refrain from falling into this trend, writing that "this means many users are now being forced to make design decisions that are detrimental to them, rather than helping them." "I think that's human nature. But at least we can make a choice not to give in to [the harmful trend]," he added. He further stated that "We don't need to hate anyone or develop bizarre, conspiratorial thinking to achieve our goals. In fact, Cardano does not need cryptocurrency to be successful. " The conciliatory attitude of Cardano's creator comes at an interesting moment when his network went through Vasil's hard fork. However, the project was criticized for a 3-month delay in implementing this change. At the same time, the Merge passed the Ethereum chain, but Vitalik Buterin's team waited for almost 2 years. Technical Market Outlook: The ETH/USD pair had bounced from the demand zone seen between the levels of $1,288 - $1,257, but the bounce was capped at the nearest technical resistance located at $1,358. After the aggressive and dynamic reversal around the level of $1,400, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294769
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Cryptocurrency Market: More BTC/GBP Trading! Central Bankers Talk DeFi Regulations

Alex Kuptsikevich Alex Kuptsikevich 29.09.2022 10:08
Bitcoin Benefits From Changing Risk Apetite Bitcoin is up 3.1% over the past 24 hours, trading around $19,400. After a downward momentum early in the day, the first cryptocurrency received some support thanks to a recovery in risk appetite. Ethereum is gaining 3.5% overnight to $1330, with the top cryptocurrencies ranging from +0.5% (Cardano) to +4.7% (BNB). Overall, total crypto capitalisation rose 2.2% to $937B overnight, according to CoinMarketCap. People In The UK Buy Bitcoin CoinShares said UK investors are buying Bitcoin amid the Pound's collapse this week, as we see with rising BTC/GBP trading volumes. The momentum in the first and second half of the day has balanced each other out. As a result, Bitcoin has been moving sideways for the last ten days - without a clear trend and in a narrow range. This "dangling at the bottom" indicates Bitcoin accumulates in the area just below 20K. For now, the long-term pattern remains that the first cryptocurrency is attracting buyers on the decline from the previous cyclical peak. IMF Comments On Proof-of-Stake In an online discussion organised by the Bank of France, the heads of the world's leading central banks called for increased regulation of the decentralised finance (DeFi) sector justified against the backdrop of its development. Australia's central bank has announced the launch of a Digital Central Bank Currency (CBDC) by mid-2023. Fed chairman Jerome Powell said the Fed has not yet decided on the digital dollar (CBDC) promotion. Cardano founder Charles Hoskinson said he would never support a government-owned digital currency that violates the privacy of its owner. The IMF said that the Proof-of-Stake (PoS) consensus algorithm could lead to excessive concentration of control at cryptocurrencies and custodial service providers with risks to the integrity of markets.
Bitcoin Is Showing The Potential For The Further Downside Rotation

The Current Situation Around Bitcoin Is Completely Tied To The SPX Movement

InstaForex Analysis InstaForex Analysis 29.09.2022 12:16
There is a gradual redistribution of capital in the global financial markets. The cryptocurrency market is attracting more and more attention from investors all over the world due to the worsening overall economic situation. Aggressive rate hikes by the central banks are rolling around the world, which leads to a lack of liquidity. At the initial stage of this process, high-risk assets and Bitcoin were the losers, but the situation is starting to change. Economic factors UK banks stopped issuing mortgage loans, which caused a negative reaction of the markets at the moment. It also led to the continuation of the upward trend of government bonds and had a negative impact on US government bonds. Stock indices and Bitcoin continued to decline as the policy of the UK central bank led to an increase in DXY. However, analyst James Butterfill later noted the growing trading volumes of BTC/GBP. The indicator reached the level of $881 million with average values around $70 million. There is a growing investor demand for Bitcoin amid unabated inflation and the onset of a recession. Santiment experts confirm a general increase in trading activity in the cryptocurrency market. Bitcoin trading volumes also reached their highest level since June 14, indicating some changes in the market and the emergence of a serious buyer. DXY&SPX At the same time, the crypto market is waiting for the start of a correction in the US dollar index, which should provoke a rally in Bitcoin and other digital assets. As a result of September 28, DXY formed a bearish engulfing, but technical metrics point to a resumption of bullish momentum. The S&P 500 managed to form a bullish engulfing pattern on September 28, which directly indicates an inverse correlation with the DXY. Technical indicators of the stock index signal the beginning of an upward movement of the indicator. However, given the similar signals on the DXY, one cannot be completely sure about the upward movement of the SPX price. BTC/USD Technical analysis Bitcoin continues to move within the $18.5k–$20.5k range. The cryptocurrency shows impulse attempts to go beyond this range in order to resume movement in a wider area. Technical metrics remain weak and indicate a flat price movement. The current situation around Bitcoin is completely tied to the SPX movement and the situation with US and UK government bonds . The cryptocurrency is still pulling towards the $20k mark, but there are no clear signals to play short or long. The $18.5k–$20.4k range is a raging storm, so we can expect movement in either direction. If the $20.4k level is broken, the path to the $22.8k–$23k range will open for Bitcoin. However, for now, this scenario is unlikely, as SPX buyout volumes remain low, and therefore the movement of the cryptocurrency will be constrained by the stock index. Conclusions Bitcoin and the cryptocurrency market are actively reacting to world events. The situation with UK banks is a clear proof of this. In the near future, we should expect an improvement in the overall situation for digital assets due to the correction of DXY and the aggravation of recession processes. Markets are reaching dangerous levels when rates are raised to record highs, but inflation continues to rage. The case with BTC/GBP trading volumes could be a prelude to a massive flow of capital into cryptocurrencies. However, this process will take time and will not be completed in the coming weeks.   Relevance up to 10:00 2022-09-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323016
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Polkadot Announced A New Roadmap| Cardano’s Vasil Hard Fork Is Live

Crypto.com Accelerate the... Crypto.com Accelerate the... 29.09.2022 14:13
Cosmos releases new whitepaper for ATOM 2.0. Polkadot announces a new roadmap. Boba Network becomes the first L2 solution on Avalanche. Weekly DeFi Index This week’s market cap and volume indices were positive at +7.15% and +1.69%, respectively, while the volatility index was negative at -26.26%. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Cosmos Hub released the new white paper for ATOM 2.0. It outlines a revamped role for Cosmos Hub as the heart of interchain security and proposes changes to the utility and issuance schedule to accrue value for ATOM, the native token of the Cosmos network. Polkadot announced a new roadmap, including the asynchronous backing optimisation that aims to increase transaction speed. The upgrade will decrease the parachain block time by a half to six seconds, and increase the amount of block space available to each block by a factor of 5 to 10. It’s expected to increase the network’s performance to between 100,000 and 1,000,000 transactions per second (TPS) from the current 1,000 TPS. Layer-2 scaling solution Boba Network has expanded its support to Avalanche. Boba Network became the first L2 solution on Avalanche to help scale on C-Chain — Avalanche’s main smart contract platform that offers compatibility with the Ethereum Virtual Machine. DEX Protocols Metrics Lending Protocols Metrics Charts on Layer-2 Projects The overall L2 market was relatively stable last week as its TVL dropped slightly by -0.38%. Optimistic rollup projects maintained the same level as last week at around 3.98B TVL (+0.08%) and zero-knowledge rollups decreased by -5.21%. Ethereum’s TVL grew by +2.90%. The TVL change for major optimistic rollup projects was a mixed bag. Metis Andromeda saw the greatest increase at +2.52% after last week’s drop, while Boba Network fell most by -2.76%. ZK rollup projects’ TVL movement was also mixed. ZKSpace’s TVL surged the most at +45.65% after its plunge (-35.87%) last week, while dYdX plummeted the most at -10.52%. Further Reading Developer consensus supports Ethereum withdrawals in upcoming Shanghai upgrade Ethereum token issuance plummets 95% following merge Cross-chain bridge Wormhole, oracle Pyth deployed on Aptos Cardano’s Vasil hard fork is live Zilliqa launches web3 gaming console with in-built miner and crypto wallet Sweat Economy (SWEAT) goes live on Near Protocol Helium ditches own blockchain in favor of Solana after community vote Decentralised exchange Bancor proposes burning 1m BNT tokens to support prices Microsoft, Avalanche, Polygon join $20M funding of Web3 automation startup DeFi bug bounty platform Immunefi raises $24M in series A Wintermute offers bounty for $160m DeFi hack Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
Altcoins: Cosmos (ATOM) - What Is It? - A Deeper Look Into the Cosmos (ATOM) Platform

Altcoins: Cosmos (ATOM) - What Is It? - A Deeper Look Into the Cosmos (ATOM) Platform

Rebecca Duthie Rebecca Duthie 29.09.2022 15:56
Summary: What is The Cosmos Platform and how does it work? What makes the Cosmos exchange unique? Cosmos’ past, present and future price positions. The Cosmo platform Briefly put, Cosmos describes itself as a project that tackles some of the "hardest difficulties" the blockchain sector has to deal with. By providing an ecosystem of interconnected blockchains, it seeks to provide an alternative to "slow, expensive, unscalable, and ecologically destructive" proof-of-work methods, such as those employed by Bitcoin. The project's additional objectives include reducing the complexity and difficulty of blockchain technology for developers through the use of a modular framework that demystifies decentralized apps. Last but not least, an inter blockchain communication protocol facilitates communication between blockchain networks, reducing market fragmentation. The project's core is the Cosmos Software Development Kit (SDK). With SKD, developers can simply build their own unique blockchains from the ground up that can interact with other blockchains in the Cosmos ecosystem. The Tendermint Byzantine Fault Tolerance (BFT) consensus method is the default consensus engine included in the Cosmos SDK. The start of Cosmos may be traced to the establishment of Tendermint in 2014, a key contributor to the network. A white paper for Cosmos was published in 2016, and a token sale took place in 2017. Earned using a hybrid proof-of-stake method, ATOM coins contribute to the security of the Cosmos Hub, the project's main blockchain. The network's governance includes this cryptocurrency. Other characteristics include the Cosmos Inter-Blockchain Communication (IBC), which enables token transfers and data sharing between Cosmos-based blockchains. The current market capitalization for Cosmos (ATOM) is $3,671,719,399. The current circulating supply is 286,370,297 ATOM tokens. The native token of the Cosmos Hub is ATOM. The Cosmos Hub primarily uses ATOMs for voting and staking. Transaction fees go to the Cosmos Hub, who then distributes them to ATOM stakers. The project website claims that as new services like interchain security and inter-blockchain bridges are released, staking payouts will rise. The uniqueness of the Cosmos platform The degree of fragmentation present in blockchain networks is a big source of worry for several people working in the cryptocurrency sector. Although there are hundreds of them, relatively few of them have communication capabilities. By enabling this, Cosmos hopes to flip this on its head. As we previously discussed, Cosmos is referred to as "Blockchain 3.0," and one major objective is to make sure that its infrastructure is easy to utilize. The Cosmos software development kit emphasizes modularity in order to achieve this. This makes it simple to construct networks out of preexisting code. In the long run, it is envisaged that this will make building sophisticated applications simple. Another priority is scalability, which refers to the ability to execute far more transactions per second than more traditional blockchains like Bitcoin and Ethereum. Blockchains must be able to handle demand as well as current payment processing firms or websites, if not better, in order to become widely used. The Interchain Accounts upgrade will be made available on February 17, 2022, according to the Interchain Foundation, a non-profit entity of the Cosmos ecosystem. The Inter-Blockchain Communications (IBC) protocol, which went live in April 2021, is the Cosmos standard for blockchain interoperability. It makes it possible for one blockchain to manage an account on another. There are now 38 projects using IBC, including Terra, the Crypto.org chain, and Gravity bridge. The Interchain Accounts improvement will be the biggest to the ecosystem since Stargate, which made it possible for Cosmos blockchains to communicate with one another for the first time ever using the IBC standard protocol. Users can stake, vote, swap tokens, and more using Interchain Accounts on other blockchains. "Enabling composability in IBC [which] permits innovation in diverse applications to be delivered without requiring to upgrade the entire Interchain" is the stated goal of the upgrade. Present and future prices of The Cosmos network (ATOM) Over the past 6 months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, ATOM does fall under this category. According to some analysts, the future price of The Cosmos network (ATOM) could reach up to $39.51 by 2025 and could see a price of more than $236.75 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. ATOM Price Chart Sources: finance.yahoo.com, coinmarketcap.com, capital.com, priceprediction.com
Kishu Inu, A Meme Coin, Promotes Growth And Development Through Its Transparency

Shiba Inu News: Tokern Burn Program Has Been Launched | What Can We Expect From SHIB Price?

FXStreet News FXStreet News 29.09.2022 16:19
Shiba Inu price shows more weakness within a falling channel. SHIB token burning rate plummets by a whopping 88% in the last 24 hours. Price recovery remains elusive amid concerns that SHIB could drop to $0.00008000. Shiba Inu price seems nowhere close to bringing its year-long downtrend to an end. Although the second-largest cryptocurrency rebounded from support at $0.000007150 in June, its uptrend was rejected at $0.00001801 in mid-August. Since then, price action has been confined in a falling channel, with limited bullish retracements. At the time of writing, SHIB price exchanges hands at $0.00001101 amid increasing downside risk that could see it slide below $0.00001000. SHIB token burn rate retraces as Shiba Inu price hunts for support Shib Super Store has recently indirectly launched a SHIB token burn program via Amazon. The platform spends the commissions it receives from sales made on Amazon to purchase SHIB tokens which are later pulled out of circulation. The affiliate program has burned around 192,169,000 SHIB tokens worth $2,115 at the current market rate. Despite the new indirect Shib Super Store burn program, the cumulative burn rate in the last 24 hours dropped by more than 88%, according to Shibburn. Roughly 7,050,000 SHIB tokens had been deposited in unspendable wallets, compared to 59,638,305 in the previous 24-hour period. Is Shiba Inu price rally waiting for lower support? The falling channel’s upper boundary caps Shiba Inu price’s upside in conjunction with the 100 SMA (Simple Moving Average – blue). Movement north of support provided by the channel’s lower boundary at $0.00001000 may be less impactful due to the low trading volume observed from the leveling OBV (On Balance Volume). Similarly, the Direction Movement Index (DMI) has no bullish or bearish bias. In other words, investors are undecided on the direction Shiba Inu price will take in the short-term. SHIB/USD daily chart If Shiba Inu price continues to move within the falling channel, investors should start acclimatizing to declines below $0.00001000. SHIB may need to collect more liquidity while forming a double-bottom pattern at its previous support – $0.00000715 in June. The IOMAP on-chain model by IntoTheBlock cements the bears’ firm grip on Shiba Inu by highlighting an intense seller congestion zone around $0.00001100. Approximately 14,600 addresses previously purchased 59.88 trillion SHIB tokens in the area. Shiba Inu IOMAP chart As Shiba Inu price tries to reach out for a breakout, investors within the range may sell at their various breakeven points, which would create more selling pressure, ultimately leading to a pullback.
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Fed Is Considering A Virtual Dollar (CBDC) And The Downward Trend Remains In The Bitcoin

InstaForex Analysis InstaForex Analysis 30.09.2022 08:49
Crypto Industry News: Federal Reserve Chairman Jerome Powell presented the latest information on the central bank's work on the digital dollar during a panel discussion on digital finance hosted by the Banque of France: "US cash is not going away. We still use it quite a bit, "he said. Powell explained that the Federal Reserve is looking very closely at the "potential costs and benefits" of issuing central bank digital currency (CBDC) in the US. "We are watching it very carefully. We assess both political and technological issues, and we do it very broadly," he explained. The Fed chairman added that he planned to cooperate with Congress, but also with the executive branch, which would bring expert knowledge on many issues. "Ultimately, we will need approval from both the executive and Congress to introduce the digital currency of the central bank. [...] We see this as a process that will last at least several years, in which we will do the work and build public confidence in our analysis and final conclusion. "- added. Technical Market Outlook: The BTC/USD pair has been seen consolidating again inside a narrow consolidation zone. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, but the momentum is not strong at all. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,226 WR2 - $18,987 WR1 - $18,829 Weekly Pivot - $18,742 WS1 - $18,587 WS2 - $18,500 WS3 - $18,259 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294957
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

The Fall Of Terra And Luna Cryptocurrency Investors| Trade The ETH/USD Pair

InstaForex Analysis InstaForex Analysis 30.09.2022 08:56
Crypto Industry News: The CEO of Galaxy Digital - Mike Novogratz - during his speech at the Token 2049 conference, spoke about the fall of Terra and Luna cryptocurrency investors. He stated that many retail investors had lost their investment in the project because they had failed to take into account the risk of volatility. He also accused them of holding their tokens for too long. "It was painful when it all came crashing down," he said. "When a token goes from 20 cents to $ 100 and you are not making a profit, that's crazy." He then pointed to the problem of the lack of a "risk management methodology" by many retail investors who were emotionally buying tokens because they were gaining in value. Speaking at a Singapore conference, Novogratz seemed to be trying to warm up the image of Do Kwon, who is currently being wanted by South Korean authorities on charges of fraud. The Korean prosecutor's office also asked the exchanges to which Terraform Lab's CEO transferred his bitcoins to freeze his assets. Galaxy Digital was one of the investors in the Terra project. What's more, the company's CEO even tattooed the symbol of the Luna cryptocurrency. Novogratz stressed that everything Kwon and Terraform Labs built was fairly transparent and publicly available, which is related to the nature of blockchain technology. Technical Market Outlook: After the aggressive and dynamic reversal around the level of $1,400,The ETH/USD pair has been trading inside a narrow range as the liquidity dries up. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,352 WR2 - $1,322 WR1 - $1,302 Weekly Pivot - $1,291 WS1 - $1,271 WS2 - $1,260 WS3 - $1,230 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/294961
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

NFTs Available To Be Sold On Apple App Store, PUBG's (PlayerUnknown's Battlegrounds) Creator Announces Artemis - Blockchain Metaverse Game

Crypto.com Accelerate the... Crypto.com Accelerate the... 30.09.2022 12:44
Apple now allows apps to sell NFTs in its App Store. OpenSea adds support for Optimism. PUBG creator announces a new blockchain metaverse game. Key Takeaways Apple will allow apps to sell NFTs on its App Store. Current app developers can sell NFTs and new apps can also incorporate NFTs within them. Apple will take a 30% cut of each transaction. Leading NFT marketplace OpenSea added support for the layer-2 scaling solution Optimism on 28 September. OpenSea specifically onboarded popular Optimism-backed NFT projects, including Apetimism, Bored Town, MotorHeadz, and OptiChads. PUBG creator Brendan Greene announced a new blockchain metaverse game. The new game is named Artemis, and will be a virtual metaverse with an AI population, where players can trade NFTs. PUBG is one of the most popular games on Steam with a devoted legion of fans. X2Y2 recorded a -13% decrease in sales and a -15% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +23% and its transaction count also increased +31%. The total market cap for GameFi tokens now stands at US$8.44 billion, down -4% from last week. Crypto.com NFT in the Spotlight Tero Labs partnered with Crypto.com NFT to launch a new NFT collection: “Rough Diamonds”. It features 1,111 limited-edition NFTs representing the most gifted next-generation Brazilian football stars. Bandanaboi’s “PHAZES” is a collection of 100 unique digital artworks living on the Crypto.org Chain. Each artwork is related to an emotion that the artist was experiencing on a given day. Some pieces are fun, whereas others are introspective. The collection will be expanded in 3 seasons. “Lords Of The Lands” is a decentralised metaverse of a futuristic medieval era, and the first metaverse to be available on the Web, iOS, Android, and virtual reality apps. It consists of 2,000 unique “Lord” NFTs that are virtual reality-ready avatars that can be coupled with a “LadyLord” to breed a GenX LOL. NFT Highlights Meta opens NFT sharing on Instagram and Facebook to all US users Someone just paid US$4.5M for a CryptoPunks Ethereum NFT despite bear market Universal Studios announces NFT scavenger hunt for Halloween Italian Serie A soccer team AC Milan to launch NFT initiative Christie’s goes fully on-chain with NFT marketplace launch Fortress Blockchain Technologies joins forces with Google Cloud to launch private data storage for NFTs GameFi Highlights Nifty News: Napoleon Dynamite cast reunites in Web3 animated series, Sega’s blockchain game and more AXA Hong Kong partners with The Sandbox to become first insurer in Hong Kong to enter metaverse YGG partners with the Kapital DAO, leading provider of Web3 gaming asset management tech, to superscale operations Mirandus: open world MMORPG finally in Web3 NFT Transaction Benchmark     The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT TMK $273,000 Minted Cronos Cruisers $119,000 Magic Eden Critters Cult $3,405,000 OpenSea CryptoPunks $9,949,000 GameFi Top Gainers & Losers     Top Games Metrics     Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES GAMEFI NFT Source: NFT & GameFi Weekly (30/09/2022) (crypto.com)
What Should We Expect From The Bitcoin Formation In The Near Future?

Cryptocurrency: Bitcoin Close To $19.5K, BitMex CEO Comments On Institutional Investors And Their Interest In Crypto

Alex Kuptsikevich Alex Kuptsikevich 30.09.2022 10:38
Bitcoin's Performance On Friday's Morning Bitcoin has remained in position for the past few days, trading at $19,500 on Friday morning. As in previous days, the attempt to sell the cryptocurrency following the stock market was met with buying. This neat bottom-drawing by Bitcoin could show a wait-and-see stance and consolidation before the next move. However, crypto optimists are now siding with the positive momentum in gold and sector stocks. Investors have probably recalled them as a store of value amid the volatility in the currency market. Read next: Tim Moe (Goldman Sachs) Comments On USD And Turbulent Times For Markets In General, Ole Hansen (Saxo)Talks Nord Stream | FXMAG.COM Among the closest key levels, the $20.8K where the 50-day moving average is located is worth mentioning. It has been playing an active role as resistance for more than a month. Local support is near $18.8K. A move outside this range could signal the end of the current consolidation. Institutional Investors Still Interested In Cryptocurrency Market Billionaire Stanley Druckenmiller expects the US economy to deteriorate significantly by the end of next year. That's when cryptocurrencies could make a resurgence. Alexander Hoptner, CEO of cryptocurrency exchange BitMEX, said he does not see any decline in institutional investor interest in the crypto industry, despite the bearish trend. Lastly, BlackRock has launched on Euronext, an exchange-traded fund (ETF) focusing on blockchain and cryptocurrency companies.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

On The Daily Chart Of BTC/USD, There Is A Consolidation

InstaForex Analysis InstaForex Analysis 30.09.2022 13:20
Separation is an unpleasant thing, but it happens from time to time. In the second half of September, bitcoin stopped being led by the US stock market. The leader of the cryptocurrency sector is trading near the psychologically important mark of 20,000, despite the rampant fall in US stock indices, due to the aggressive monetary restriction of the Fed. If the S&P 500 was scared by the intention of the central bank to raise the federal funds rate to 4.25–4.5% this year, then BTCUSD is in no hurry to fall. 20,000 for one coin is an important mark not only in terms of price, but also in terms of capitalization. The market value of cryptocurrencies is currently estimated at $1 trillion. This is $2 trillion less than at the peak of BTCUSD in November 2021. And although the token has since sank by 70%, and the S&P 500 by only 22%, in September, the situation changed. Stock indices are falling on fears that an overly aggressive tightening of the Fed's monetary policy will cause a recession in the US economy. At the same time, the stock market has not yet fully taken into account the risks of a downturn, as evidenced by the VIX fear index. The volatility of equity securities is currently substantially lower than that of debt securities. They most likely have somewhere to fall. Dynamics of volatility of the US stock and bond markets Is there a place for bitcoin to fall? Big question. Unlike trading in the US financial market, no additional margin is required to hold losing positions in cryptocurrencies. You can hold them for as long as you like, with the expectation that, eventually, the price will still rise and take you out of losses. Such stubborn holders are called hodlers, and their number is currently growing. This is a distinctive feature of crypto winter 2022. During the previous periods of BTCUSD falls, everything was different. Strong non-sell hands keep the token from falling too low. Of course, everything can change if bitcoin rewrites the June lows, but until this happens, you can talk about the ability of the cryptocurrency leader to find the bottom. Note that the external background for bitcoin as a representative of risky assets remains extremely unfavorable. FOMC officials are openly talking about their readiness to raise the federal funds rate to 5% in 2023. This will certainly allow Treasury yields to restore the upward trend after the correction associated with the intervention of the Bank of England in the life of the debt markets. The higher bond rates rise, the worse it is for stocks and all earning assets. Bitcoin is no exception. Technically, on the daily chart of BTCUSD, there is a consolidation within the medium-term downward trend. A series of rising highs and lows indicates a serious struggle for the initiative between the "bulls" and "bears" and contributes to forming the Broadening Wedge reversal pattern. The conservative strategy is to buy the peak at 22,800. A more aggressive approach involves opening long positions on a breakout of the fair value at 19,900.   Relevance up to 10:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323134
Inflation Rising Again In The Eurozone, Positive GDP In The Great Britain

Inflation Rising Again In The Eurozone, Positive GDP In The Great Britain

Craig Erlam Craig Erlam 30.09.2022 14:17
Stock markets are bouncing back on Friday, although I don’t think anyone is getting excited by the moves which pale in comparison to the losses that preceded them. This looks like nothing more than a dead cat bounce after a steep decline over the last couple of weeks as investors have been forced to once again accept that interest rates are going to rise further and faster than hoped. Double-digit eurozone inflation Inflation in the eurozone hit 10% in September ahead of schedule, with markets expecting a jump to 9.7% from 9.1% in August. In normal circumstances that may have triggered a reaction but these are anything but normal. Markets are still pricing in a more than 70% chance of a 75 basis point rate hike from the ECB next month with an outside chance of 1%. The euro is slightly lower following the release which also showed core inflation rising a little higher than expected to 4.8%. Sterling recovers as the UK is revised out of a potential recession We’re seeing the third day of gains for the pound which has now recovered the bulk of the losses sustained after the “mini-budget” a week ago. This is not a sign of investors coming around the new Chancellor’s unfunded tax-cutting, but rather a reflection of the work done since to calm the market reaction. That includes the emergency intervention from the BoE, talk of measures to balance the cost of the tax cuts, reported discussions with the OBR and rumoured unrest within the Tory party. We’ll have to see what that amounts to and sterling could certainly react negatively again to inaction or the wrong action. GDP data this morning brought some good news, although as far as positive updates go, this is surely towards the more insignificant end. The UK is not in recession after the second quarter GDP was revised up from -0.1% to +0.2%. While all positive revisions are welcome, the technical recession wasn’t really significant in the first place. The important thing was that the UK is struggling to grow and facing a probable deeper recession down the road and today’s revision doesn’t change that. ​ Disappointing Chinese surveys China’s PMIs highlighted the widening gulf between the performance of state-owned firms versus their private competition. It goes without saying that being backed by the state in uncertain times like this carries certain advantages and that has been evident for some time. Private firms have been more sensitive to Covid restrictions and have therefore been heavily hampered this year. Still, even with those state-backed benefits, the headline PMI was far from encouraging rising to 50.1 and barely in growth territory. With the non-manufacturing PMI also slipping from 52.6 to 50.6, it’s clear that the economy still faces enormous headwinds and the global economy stalling around it will only add to them. BoJ ramps up bond purchases amid higher yields The Bank of Japan ramped up bond purchases overnight as it continues to defend its yield curve control thresholds in volatile market conditions. Rising global yields have forced the central bank to repeatedly purchase JGBs in order to maintain its target. There has been a growing expectation that the BoJ could tweak its 0% target or widen the band it allows fluctuations between in order to ease the pressure on the currency but that’s not been forthcoming, with the MoF instead intervening in the markets for the first time since 1998. The intervention doom loop continues. RBI rate hike and credit line The Reserve Bank of India hiked the repo rate by 50bps to 5.9% on Friday, in what will likely be one of its final tightening measures in the fight against inflation. The decision was widely expected and followed shortly after by guidance to state-run refiners to reduce dollar buying in spot markets through the use of a $9 billion credit line. The strength of the dollar is posing a risk to countries around the world, as we’ve seen very clearly in recent weeks as mentioned above, and measures like this will seek to alleviate those pressures. Much more will be needed to make any significant difference though. A period of stability is what bitcoin needs It’s been a very choppy week in bitcoin which has failed to make a sustainable run in either direction despite attempts at both. Perhaps we are seeing a floor forming a little shy of the early summer lows around $17,500, although that will very much depend on risk appetite not plummeting once more which it very much has the potential to do. I keep using the word resilience when discussing bitcoin and that has very much remained the case. It did also struggle to build on the rally earlier this week, even hold it into the end of the day, so perhaps a period of stability is what it needs. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Why India Leads the Way in Economic Growth Amid Global Slowdown

The GBP/USD Pair Gained Bullish Pace, September PMI Indices And Continued Volatility In The Markets

TeleTrade Comments TeleTrade Comments 03.10.2022 10:10
Here is what you need to know on Monday, October 3: Markets stayed relatively quiet during the Asian trading hours on Monday but volatility picked up in the early European morning. Political developments in the UK are watched closely by market participants ahead of S&P Global's final September PMIs for Germany, the euro area, the UK and Canada. The US economic docket will feature the ISM September Manufacturing PMI later in the day. Several FOMC policymakers, including Kansas City Fed President Esther George and New York Fed President John Williams, will also be delivering speeches in the second half of the day. After having registered modest gains on Friday, the US Dollar Index turned south and broke below 112.00. US Stock index futures are trading mixed in the European session and the benchmark 10-year US Treasury bond yield loses over 1% below 3.8%.  During the Asian trading hours, the data from Japan showed that the Tankan Large Manufacturing Index declined to 8 in Q3, missing the market expectation of 11. On a positive note, the Non-Manufacturing Index edged higher to 14 in the same period from 13. Meanwhile, Japanese Finance Minister Shunichi Suzuki reiterated that they continue to watch FX moves with a strong sense of urgency. USD/JPY showed no reaction to Suzuki's comments or the data releases and it was last seen moving sideways slightly below 115.00. GBP/USD gathered bullish momentum and jumped to its highest level in over a week near 1.1300. Reports suggesting that the UK government is expected to roll back the proposed scrapping of the higher rate of income tax helped the British pound gather strength. British Finance Minister Kwasi Kwarteng confirmed these reports by announcing that the government will not go ahead with a plan to scrap a 45% rate of income tax. Following the initial bullish reaction, the pair returned to the 1.1200 area, where it was up around 0.3% on the day. EUR/USD is having a difficult time making a decisive move in either direction and trading in a narrow range near 0.9800.  Gold snapped a two-week losing streak on Friday and edged higher toward $1,670 early Monday. Although XAU/USD returned to the $1,660 area in the European morning, it managed to hold its ground amid retreating US Treasury bond yields.  Bitcoin closed in negative territory on Saturday and Sunday but found support near $19,000. Ethereum fell nearly 4% over the weekend and dropped below $1,300 before staging a rebound early Monday. ETH/USD was last seen rising 1% on the day at $1,290.
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

Meta Platform Users Can Combine Wallets And Share NFT Tokens In 100 Countries| The Ethereum Market Has Been Seen Making Lower Highs

InstaForex Analysis InstaForex Analysis 03.10.2022 10:35
Crypto Industry News: Meta, the parent company of Facebook and Instagram, has announced another expansion in its digital arts initiative. From September 29, all users of both platforms can combine wallets and share NFT tokens in 100 countries. As part of the feature, which is being tested since May, users will be able to tag creators and collectors, as well as transfer digital collectibles between platforms at no cost. In August, Meta began allowing users to publish their digital collectors' items on Facebook and Instagram, and announced its international expansion to countries in Africa, Asia-Pacific, the Middle East and the Americas. The company also added support for third-party wallets such as Rainbow, MetaMask, Trust Wallet, Coinbase Wallet, and Dapper Wallet, as well as support for Ethereum, Polygon, and Flow Blockchain chains. Several Twitter users at the time expressed concern about the security and privacy of data sent by linking digital wallets to the Meta platform. In April 2021, confidential personal data of more than half a billion Facebook users was leaked on a frequently visited hacking forum. According to Statista data, Facebook and Instagram have 2.9 billion and 1.4 billion monthly active users, respectively. Technical Market Outlook: The ETH/USD pair has been moving lower over the weekend and is currently tradin g just above the demand zone. Nevertheless, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295177
Bitcoin Is Showing The Potential For The Further Downside Rotation

The Digital Trade Transparency Act of 2022| Bitcoin's Early Trend Continues

InstaForex Analysis InstaForex Analysis 03.10.2022 10:41
Crypto Industry News: US Senator Bill Hagerty, a member of the Senate Banking Committee, outlined legislation to provide a safe haven for cryptocurrency exchanges ahead of "certain" actions by the Securities and Exchange Commission (SEC). The Digital Trade Transparency Act of 2022, presented by Senator Hagerty, aims to provide regulatory clarity around two major issues plaguing crypto exchanges - the classification of digital assets and related liabilities under applicable securities laws. "The current lack of regulatory clarity for digital content gives entrepreneurs and businesses a choice: navigate significant regulatory ambiguity in the US or move overseas to markets with clear rules for digital content," he said. This regulatory uncertainty, according to Senator Hagerty, discourages investment in crypto spaces and hampers job creation in the US. As a result, the blockade "threatens US leadership in this transformative technology at such a pivotal moment." Technical Market Outlook: The BTC/USD pair has been seen moving lower over the weekend, but o a larger time frames the market is still consolidating inside a narrow zone. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, but the momentum is not strong at all. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 10:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295175
What Should We Expect From The Bitcoin Formation In The Near Future?

What Should We Expect From The Bitcoin Formation In The Near Future?

InstaForex Analysis InstaForex Analysis 03.10.2022 12:37
Bitcoin ended the third quarter in a row on a bearish note. The cryptocurrency spent most of the time in the $18.5k–$20.4k range. Rare moments of upward movement were inextricably linked with the behavior of macroeconomic factors. Bitcoin and October Historically, Bitcoin has been spending October positively. Analysts at Santiment have confirmed the presence of an upward trend in BTC trading volumes since mid-June. Interest in Bitcoin is growing despite the general decline in trading activity in the market. Most analysts tend to believe that the US dollar index will begin a correction in October. The asset reached the upper limit of the ascending channel and met a powerful resistance. Now the price of DXY will go to retest the lower border of the channel in the area of 98–100. Given the inverse correlation of Bitcoin and stock indices with DXY, we can expect a local thaw in the cryptocurrency market. And this completely fits into the historical context of BTC in October and the growing trading volumes. The other side of October However, there are several factors that can aggravate the current situation and negatively affect the prospects of Bitcoin. The Fed announced an emergency meeting on October 3. The announcement does not say for what purpose the meeting was convened, but it is likely that it is related to inflation. Given this, volatility may increase in the market. The second factor that can negatively affect the prospects for the upward movement of Bitcoin is the stock market. Cryptocurrencies have been closely correlated with stock indices throughout the crypto winter. Over the past two weeks, we have seen that this codependency has a negative impact on Bitcoin quotes. Bitcoin continues to fluctuate in a narrow range of $18.5k–$19.4k, despite attempts to break through these levels. The main problem with the cryptocurrency was that the trading volumes on the BTC network were not backed up by large purchases on the stock market. As a result, a situation has developed where Bitcoin is trying to realize bullish momentum, and the S&P 500 continues to decline and forms a double bottom. In this case, the correlation of BTC and SPX played a cruel joke and did not allow the cryptocurrency to climb to the $20k level. A similar situation should be expected in October, which has historically been a month of serious falls in the stock market. Given the current macroeconomic situation and a new round of nuclear escalation, there are plenty of triggers for a stock market crash. BTC/USD Technical analysis Bitcoin continues to move within a narrow range of $18.5k–$19.4k. The cryptocurrency has made several unsuccessful attempts to break out of the area and gain a foothold above $20k. The main limiting factor in the growth of BTC/USD quotes is the correlation with stock indices. On the daily chart, for the second week, a contraction has formed, which gradually turns into a "descending triangle" pattern. Despite the growth in trading volumes, hesitant doji candles continue to appear on the daily timeframe. Technical indicators hint at another attempt of an upward movement. The RSI index and the stochastic oscillator are acquiring an upward direction. However, one should not expect a significant change in the situation. MACD continues to move flat below zero, confirming the absence of a strong bullish momentum. Conclusions In the short term, we should expect the completion of the formation of the "triangle" figure and going beyond its limits. It could be argued that the direction of price movement will be downward, but given the growing volumes of BTC on exchanges and the DXY correction, a local price reversal is possible. In the long term, we should expect Bitcoin to go beyond the $18.5k–$19.4k range. A drop in demand for DXY will lead to an increase in high-risk assets. Therefore, we should expect BTC impulse movements above $20k in October.   Relevance up to 10:00 2022-10-04 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323230
ByBit talks trading bots. What are they? How can they help?

How Have BTC And ETH Performed Recently? Cryptocurrencies: Market Cap Increased Slightly, Telekom And Telefonica "Flirting" With Digital Assets

Alex Kuptsikevich Alex Kuptsikevich 03.10.2022 09:29
Market picture Bitcoin is up 2.5% over the past seven days, trading at $19,300 on Monday morning. Ethereum added 0.2%, to $1300. Other leading altcoins in the top 10 have shown mixed dynamics, ranging from an 8% decline (XRP) to a 4% rise (BNB). Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 0.5% over the week to $930bn. The cryptocurrency Fear & Greed Index is at 24 by Monday versus 21 a week earlier. Bitcoin was able to keep from falling last week despite notable declines in stock indices and a Fed rate hike but lacked the strength to rise. The first cryptocurrency's fluctuation waves are getting smaller and smaller, approaching ripple levels. In such a lull, significant order volumes tend to pull closer to the price, the triggering of which can break the current trend. The lower boundary of the indecision range remained at $18.8K. However, the upper bound has shifted to 20.3, where several local highs since September 14 and the 50-day moving average are concentrated. Bitcoin posted a moderate decline (-3.8%) in September, contrasted with a sharp fall of more than 9% in the S&P 500 Index. Unlike the stock index, BTC was able to hold its June lows. In terms of seasonality, October is considered one of the best months of the year. Bitcoin has ended this month up six times in the last seven years. The average growth over the previous 11 years has been 33%, and the average decline has been 15%.   News background According to Galaxy Digital CEO Mike Novogratz, bitcoin's resilience in September is since most sellers have left the crypto market, having sold off their assets. The ECB has published the first results of its Digital Euro Survey, which suggests that the broadest use of CBDC will be in the retail sector. German telecoms giant Deutsche Telekom launched its Ethereum transaction validation node to support stacking on the second cryptocurrency's network. Spain's largest telecommunications company Telefonica has allowed customers of its online shop to pay for purchases with digital assets. BlackRock has applied to launch an exchange-traded fund (ETF) for metaverse-related companies.
4 Cryptocurrencies To Keep A Watch On: Chiliz (CHZ), Big Five Token (BFT), FUNToken (FUN), Cosmos (ATOM)

4 Cryptocurrencies To Keep A Watch On: Chiliz (CHZ), Big Five Token (BFT), FUNToken (FUN), Cosmos (ATOM)

Rebecca Duthie Rebecca Duthie 03.10.2022 13:53
Summary: A summary of CHZ, BFT, FUN, ATOM. Proof of work, proof of stake, proof-of-history DApps, sports, gaming, Africa. The Chiliz (CHZ) Platform The main cryptocurrency for sports and entertainment is called Chiliz, and it is created by a FinTech company based in Malta. It runs the blockchain-based sports entertainment platform Socios, which enables consumers to take part in the management of their preferred sporting organizations. Socios.com's numerous fan tokens are an illustration of that. Fan tokens give athletic clubs and organizations a means to interact with their supporters and open up new revenue streams. Through surveys and polls, for instance, supporters can participate and have a say in club-related issues, such as what should be written on the captain's armband. The business seeks to close the gap between active and passive fandom. The level of influence fans have is decided by the clubs. The choices might be anything from choosing new jersey designs to assigning teams to exhibition games. Chiliz was the first to directly involve regular sports fans in club and organization decision-making. Read more:Altcoins: Chiliz (CHZ) - What Is It? - A Deeper Look Into the Chiliz (CHZ) Platform  The Big Five Token (BFT) platform In terms of technical innovation, Africa has historically trailed behind; the majority of its population has been reduced to using technology as a consumer good. The Nzvedaz Big Five Project seeks to alter that perception by introducing blockchain technology to Africa. The first NFT Marketplace in Africa is being created by our project. Their metaverse will reflect Africa's diversity, abundance of resources, and variety of flora and animals. Users will be able to virtually scale Mount Kilimanjaro and possess large lands from which valuable natural resources can be mined. The native currency that will be used in the ecosystem has the ticker $BFT. It will serve as the medium of exchange for NFT listings on their marketplace. When a seller sells their NFT, it will be the currency that is utilized to pay final value fees. It will serve as the medium of exchange in their first African metaverse. The best cryptocurrency exchange for trading The Big Five Token stock at the moment is PancakeSwap, if you're interested in finding out where to buy The Big Five Token at the current cost (V2). Read more: Altcoins: Big Five Token (BFT) - What Is It? - A Deeper Look Into the Big Five Token (BFT) Platform  The FUNToken (FUN) platform An asset created exclusively for the online gaming and gambling sector is the FUNToken. The Ethereum blockchain's advantages are combined with a cutting-edge tech stack in FUNToken, making FUN a potent tool for gamers, platforms, and developers alike. FUN backs the advent of new digital game era: Quick - Use the XFUN Layer 2 token for quick wallet-to-wallet and in-game transfers to extend your playing time. Transparent - Decentralized, openly logged, and traceable transactions. Processes are streamlined and made easy with Seamless - FUNToken, an ERC20 token on Ethereum with a Layer 2 token called XFUN in Ploygon. Open - Anyone can use FUNToken's power, including players, developers, and dapps. Safe – FUNToken ownership is fully anonymous. The XFUN Wallet, made available by FUNToken in the Google Play and Apple App stores, offers a safe, non-custodial means to store and transfer both XFUN and FUN. Transactions on the XFUN Wallet are frictionless and quick thanks to the absence of gas. The FUNToken will continue to hold its value in the future thanks to a calculated quarterly burn of 50% of any earnings. Read more: Altcoins: FUNToken (FUN) - What Is It? - A Deeper Look Into the FUNToken (FUN) Platform  The Cosmos (ATOM) platform Briefly put, Cosmos describes itself as a project that tackles some of the "hardest difficulties" the blockchain sector has to deal with. By providing an ecosystem of interconnected blockchains, it seeks to provide an alternative to "slow, expensive, unscalable, and ecologically destructive" proof-of-work methods, such as those employed by Bitcoin. The project's core is the Cosmos Software Development Kit (SDK). With SKD, developers can simply build their own unique blockchains from the ground up that can interact with other blockchains in the Cosmos ecosystem. The Tendermint Byzantine Fault Tolerance (BFT) consensus method is the default consensus engine included in the Cosmos SDK. Other characteristics include the Cosmos Inter-Blockchain Communication (IBC), which enables token transfers and data sharing between Cosmos-based blockchains. As we previously discussed, Cosmos is referred to as "Blockchain 3.0," and one major objective is to make sure that its infrastructure is easy to utilize. The Cosmos software development kit emphasizes modularity in order to achieve this. The Interchain Accounts improvement will be the biggest to the ecosystem since Stargate, which made it possible for Cosmos blockchains to communicate with one another for the first time ever using the IBC standard protocol. Read more: Altcoins: Cosmos (ATOM) - What Is It? - A Deeper Look Into the Cosmos (ATOM) Platform  Sources: FXMAG.com
For What It Is Worthy To Pay Attention Next Week 23.01-29.01

Forecasts For Q4: The Power And Gas Crisis Will Reach Its Peak

Saxo Bank Saxo Bank 04.10.2022 09:16
Summary:  The macropolitical and economic landscape has sent freezing weather in over the financial markets. How will you navigate the cold winter? An Executive Summary  Our outlook for Q4 2022 simply recognises the reality that winter is coming, in both the literal and figurative senses. First is the literal sense as Europe and the UK in particular brace for the impact of a winter season that will likely bring with it an economic winter. The power and gas crisis will reach peak impact due to the increased demand during winter heating season, even if prices have fallen considerably. Our macro strategist Christopher Dembik focuses on how Europe can absorb the tremendous headwinds of the energy crisis without turning the lights out entirely, with observers excessively pessimistic on the European outlook. This will include reducing demand through more efficiency, longer-term investments in nuclear, and better buildout of the necessary infrastructure for the green transformation.  In China, our market strategist Redmond Wong notes that the focus on renewables is far less intense. China has moved to secure coal supplies amidst the spike in oil and especially LNG prices in recent quarters, preferring to focus on more efficient use of its coal-fired baseload capacity and the most aggressive buildout of nuclear power of any major economy. For the rest of developed and emerging Asia, market strategist Charu Chanana notes that the soaring prices for LNG have altered the energy security for the region, to the detriment of weaker economies. The response will come in a variety of forms, from Japan’s renewed interest in nuclear despite the 2011 Fukushima disaster, to the intriguing prospect of energy increasingly trading in non-US dollar currencies, as already seen in India’s purchase of Russian crude with roubles. Our Australian market strategist Jessica Amir zeroes in on the factors driving a renaissance of interest in nuclear energy and looks at where to find the companies and ETFs in a rather difficult-to-navigate nuclear investment space.  Now on to the chief driver of asset valuations since the Fed’s dramatic pivot in November of last year: the trajectory of monetary policy. The coming quarter and first part of winter are likely to bring what Saxo CIO Steen Jakobsen dubs “peak tightness”. The market will finally manage to catch up to where the peak Fed rate is likely to rise by early next year, after getting it so wrong in hoping for a policy pivot toward decelerating tightening pressure in Q3. In turn, that policy tightness will lead to a recession, already on the way in Europe but spreading elsewhere next year, eventually even to the US, where the economy has proven far more resilient than the market expected.   In equities, the emphasis from the head of equity and quant strategy Peter Garnry is on how the coming winter will inevitably drive recession risks, as already seen with the pressure on consumer and discretionary stocks. He also explores how the extraordinary pressure on Europe can drive necessary innovation that should allow the continent to come out the other side with a far more competitive economy. Still, an overriding risk for growth and equity valuations is the cost of de-globalisation, which will reverse many of the trends in equities and the supply chains that companies have hyper-tuned over the last 12 years.  Head of commodity strategy Ole Hansen sees less drama for commodities relative to the intense volatility in the months since Russia invaded Ukraine, as ongoing supply concerns vie with shrinking demand concerns for supremacy. One interesting twist in Q4 will be how the crude oil market absorbs a halt of the Biden administration’s release of US strategic reserves if this proceeds according to plan in October.   In the FX outlook, John Hardy, the head of FX strategy, asks whether peak tightness in the anticipated trajectory of the Fed rate hike cycle will likely also bring peak US dollar, which has provided its own wintry pressure on global liquidity and asset prices for the last eleven months.  Elsewhere in FX, will the market force the Bank of Japan to capitulate on its yield-curve-control policy, possibly setting up the yen for spectacular volatility this coming quarter? It’s also worth noting that this is the third quarter running in the massive divergence of the JPY weakness relative to Chinese yuan (CNH and CNY) strength, the latter still in relative terms despite the yuan being allowed to slip considerably lower versus the strong USD in Q3; it’s an important and tense situation that remains unresolved.  In crypto, the market failed to revive in the quarter even with a much-anticipated Ethereum platform shift to proof-of-stake from proof-of-work. As our crypto strategists Mads Eberhardt and quant strategist Anders Nysteen suggest, the risk of a “crypto-winter” continues as global liquidity dries up on the headwind of policy tightening, not to mention the fear of stricter regulation of the space. Still, there are plenty of bright spots, with burgeoning innovation in the industry finding new applications for crypto-related blockchain technology.  Finally, this outlook also features the usual rundown of the longer-term technical outlook for critical assets, as we revisit the critical US 10-year treasury yield chart, the US S&P 500 index and where the ultimate depths of this bear market may lie, and the EURUSD exchange rate after the symbolic parity level was reached—and then some—on the downside in Q3.   We wish you a safe and prosperous Q4. Given the stark challenges that lie ahead for asset markets in a world beset with grinding supply side challenges, and as policymakers clamp down to fight inflation, it’s a difficult time. At the same time, it’s worth keeping in mind that opportunity and longer-term market returns rise as a function of deteriorating current asset prices.      Source: https://www.home.saxo/content/articles/quarterly-outlook/q4-2022-outlook-winter-is-coming-04102022
The G20 And IMF Are Already Preparing Their Crypto Regulation

Crypto Trading Firms Are Looking To Reduce Their Headcounts

Saxo Bank Saxo Bank 04.10.2022 09:19
Summary:  The crypto market has been in a frozen state over the summer due to the increased global unrest, rising inflation and lower interest in crypto investments this year, and speculative traders are getting cold feet. Rising energy costs are raising concerns, especially for the energy-intensive cryptocurrencies, and the profitability of crypto miners is under pressure. One bright spot in the otherwise cold winter is that the institutional interest in crypto seems to persist, although cracks are starting to appear. The crypto market has been quite dormant over the summer, driven by the global inflation fears as well as geopolitical tensions. These have been the main drivers of the decrease in risk appetite for investors both in the equity and crypto markets, and to a large degree these markets have been moving in sync in 2022. What will be driving the crypto space from here? Will the energy crisis be a limiting factor for a comeback in crypto, or will other parts of the crypto space be able to fuel a new rally? Energy limitations are raising concerns Bitcoin and several other big cryptocurrencies are relying on huge amounts of computational power to run their network and make sure that transactions are verified properly. Estimates from early September predict Bitcoin to have the same daily energy consumption as Sweden. A key feature for Bitcoin is that the network is run in a decentralised way, where multiple independent agents around the globe validate the transactions to ensure that no single entity is controlling the network. These so-called miners are rewarded in newly issued Bitcoins, but with the decreasing value of the crypto market and the rising energy cost, miners are facing challenges when it comes to profitability, as shown in figure 1. The decline in Bitcoin prices in 2022 is forcing miners to either relocate to countries with cheaper power or close down their operations. With fewer miners running the network, it will be less secure and may become less decentralised. However, with the current amount of Bitcoin miners, we do not see increased centralisation as a major risk within the next couple of years. Neither centralisation or energy consumption appear to be a major concern for the classical crypto trader. However, larger governmental institutions are becoming increasingly concerned with the computationally heavy “proof-of-work” validation scheme which Bitcoin is using. At the beginning of September, the US White House Office of Science and Technology Policy found in a report that cryptocurrencies have a significant impact on energy usage as well as on the emission of greenhouse gases, and they recommended increased monitoring and potential regulation. This happens half a year after the EU Parliament was discussing a ban of the energy-intensive “proof-of-work” validation which Bitcoin is using, which in the end was rejected. We see a major risk to cryptos if governmental institutions start regulating the use of cryptocurrencies due to their energy consumption. If strict regulation is imposed, it may limit the number of use cases for cryptocurrencies and thus make it less attractive to employ crypto technology. Figure 1: Estimate of the average cost of mining a bitcoin by MacroMicro using data from Cambridge University – compared to the price of a bitcoin. When the average mining cost for a bitcoin is higher than what the bitcoin can be sold for, the number of miners will likely decrease. Retail traders are watching from the side-lines – institutions are still in the game Speculative traders seem to have disappeared from the crypto space in 2022, as the fear-of-missing-out trends driving the price rally in 2021 has now gone. Additionally, non-fungible tokens (NFTs - digitalised versions of items, images, videos, etc.) are trading at record-low volumes over the past year, confirming the cooling of the speculative trading mania. One bright spot in the crypto winter seems to be the institutional interest, which has not faded in the same way as with retail traders of crypto. During the past couple of months we have seen multiple bigger institutions investing in the crypto market or expanding their services within digital assets, despite the crypto market rout. Examples are BlackRock who announced a partnership with Coinbase to expand their crypto investment services to institutional investors, and Brevan Howard raising more than $1Bn for a crypto fund from institutional investors.  Cracks are however starting to appear. For example, Snap announced a layoff of their Web 3.0 department at the beginning of September, and crypto trading firms are looking to reduce their headcounts due to the crypto market conditions. The number of developers in the crypto space has been declining throughout the past three months according to Artemis, but the record-high amount of venture capital which has flown into the crypto space in 2021 and beginning of 2022 can hopefully keep crypto organisations flowing for some time. We see applicability as the driver for cryptos going forward. We will likely see a shift from investments into random crypto tokens and NFTs into crypto technologies with a specific use case. Some are already in the pipeline: Sony is looking into creating NFT-backed media to give the artists faster and more equitable agreements; GameStop is developing the ownership of digital items in games through NFT technology; and Ticketmaster has entered a collaboration of issuing tickets as NFTs. The crypto winter is changing the crypto market into a more mature and healthy one, removing speculators and unreliable businesses. The key focus from here will be on the scalability to be able to process more transactions, for example, for payment processing, as this is crucial for developing crypto applications. It is important for cryptocurrencies that larger institutions embrace crypto applications to show that cryptos are more than an arena for blockchain enthusiasts and speculative traders. And this is of course while hoping that regulators will not put a stick in the wheel due to environmental concerns. Source: https://www.home.saxo/content/articles/quarterly-outlook/the-crypto-space-is-getting-cold-when-the-hype-disappears-04102022
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Kiyosaki's Support For Uncontrolled Bitcoin By The Fed Continues

InstaForex Analysis InstaForex Analysis 04.10.2022 09:52
Crypto Industry News: "Buy more Bitcoin, gold and silver," calls known from numerous publications, especially the famous bestseller "Rich Dad, Poor Dad" author and investor Robert Kiyosaki. In one of his last tweets, he spoke about the upcoming investment opportunity. In his opinion, if the FED does not change the current rate and continues to raise interest rates, and thus - strengthens the position of the US dollar - it will be a great opportunity to take advantage of the promotion on Bitcoin, gold and silver. Kiyosaki ensures that anyone who buys more Bitcoin, gold and silver will enjoy solid profits in the moment that must come sometime, such as a 180-degree change in FED policy, i.e. lowering interest rates. According to Robert, this could happen as early as January 2023 - then the US dollar could "crash (against the rocks)", as was the case with the British pound. As of May 2020, Kiyosaki has been systematically expressing his enthusiasm for assets that are not directly managed by the U.S. Federal Reserve Bank. Interestingly, his support for the uncontrolled Bitcoin by the Fed continues despite the fact that he still considers it an asset "of no real value." Technical Market Outlook: The BTC/USD pair has been seen moving up after the successful test of the local short-term trend line dynamic support around $18,980. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, however after the Bearish Engulfing candlestick pattern was made at the level of $20,374, the odds for a breakout higher are very low. The market conditions on the H4 time frame are positive, momentum is strong and well above the level of fifty. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295320
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

Kim Kardashian Will Pay To The SEC To Pay Fees Related To The EthereumMax Promotion

InstaForex Analysis InstaForex Analysis 04.10.2022 10:01
Crypto Industry News: Instagram star Kim Kardashian will pay $ 1.26 million to the US Securities and Exchange Commission (SEC) to pay fees related to the EthereumMax promotion. According to a SEC release, the Commission blamed the star for non-disclosure of the $ 250,000 impact it received for promoting EthereumMax. Kardashian also agreed not to promote any cryptocurrencies for three years. The celebrity took part in an action called "pump and dump". Received a lot of money for promoting a cryptocurrency of no greater value. It was only "recommended" by famous people, greedy for money. How does pump and dump work? Well, the cryptocurrency creators who have the most of it spend a lot on promotion. The internet users then invest and raise the price of the asset, and then the authors sell all or most of their coins. In this way, we have a "pump", that is, pumping the valuation, and then "dump", that is, getting rid of an asset that has obtained a high valuation due to earlier promotional activities. An unaware investor thinks that he is allocating money into something attractive, and then it turns out that he will not get back what he spent. In 2021, Kim Kardashian shared promotional content on her Instagram. The celebrity has one of the largest amounts of followers on social media. Kardashian has approximately 331 million Instagram fans and nearly 74 million Twitter fans. Technical Market Outlook: The ETH/USD pair has bounced from the demand zone and is heading higher towards the nearest technical resistance located at $1,358. On the other hand, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295322
Ethereum Market Is Showing Bullish Signals

Ethereum Market Is Showing Bullish Signals

InstaForex Analysis InstaForex Analysis 04.10.2022 13:32
The situation in the crypto market has been difficult since the end of August. However, there are more and more reasons to expect a local upward trend in cryptocurrencies on the market. And there is no doubt that ETH will be one of the main beneficiaries of the bullish move. The main reason for the likely upward movement of the crypto market is the start of a protracted correction of the US dollar index. In addition, there were rumors on the financial markets about a possible curtailment of the Fed's aggressive policy. Market players attribute this to the European crisis and the bankruptcy of Credit Suisse. If the combination of these factors works, then the cryptocurrency and Ethereum market is waiting for a local upward trend and a gradual fading of the liquidity crisis. For the main altcoin, this is especially good in light of recent negative events. Negative background around Ethereum Recently, an article was released where the future of Ethereum is being questioned after the Merge update. The authors believe that the growing number of competitors and the parallel increase in the number of ETH fork are diverting significant investment from the altcoin. After the merge, the centralization of Ethereum and the percentage of transaction censorship also increased. Due to the decrease in trading activity, the deflationary mechanism of ETH also does not work properly. All this leads to a decrease in investment in the main altcoin and its gradual extinction. There is some truth in the study, but it is incorrect to say that ETH has reached its peak and is moving to the bottom. Even aside from the liquidity issues due to the crypto winter, there are other factors pointing to Ethereum's potential. The Merge update was only 55% complete and there are several important updates ahead of the altcoin before all the algorithms work as they should. ETH/USD Analysis In addition, the approaching bullish momentum will show how Ethereum is ready for growth. Over the past day, the asset has risen in price by 4% and as of October 4, the altcoin is trading around $1,350. The coin managed to gain a foothold above $1,320, which allowed it to build on the bullish success. In the next two days, ETH/USD will begin to consolidate above the $1,350 level for further movement towards $1,430. Most likely, there will be a local rebound here due to high sales volumes. Everything will depend on the trading activity in the asset network and its dynamics in the coming days. Ethereum on-chain activity showed a powerful surge following the results of yesterday's trading day. As of October 4, address activity and transaction volumes are below average. At the same time, technical metrics continue to grow, which indicates a dangerous divergence for growth. While the on-chain numbers are declining, the RSI and stochastic on the daily timeframe maintain a strong upward trend. If on-chain metrics do not show a growing interest in Ethereum after the opening of the US markets, then the growth of ETH will be unjustified. It is also important to note that a "triangle" pattern is forming on the daily chart. In a bearish scenario, a breakout of the pattern will bring the price down to the $1,2000–$1,250 area. If buying activity recovers to yesterday's volumes, the price will continue to move towards $1,430. Conclusions Ethereum is showing bullish signals that do not correlate with buying activity. This is fraught with a further decline and a retest of $1,200. At the same time, the general situation is conducive to growth, therefore, even in the event of a local price drop, ETH will resume bullish movement at least to the range of $1,530–$1,670.   Relevance up to 09:00 2022-10-05 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323338
Cryptocurrency Market: Wow! Ethereum's The Merge Make The Network Use 99.95% Less Power!

Cryptocurrencies: More Bitcoin Investments, Over 10 Thousands Crypto Are "Zombies"

Alex Kuptsikevich Alex Kuptsikevich 04.10.2022 09:09
Bitcoin And Ethereum Bitcoin has gained 2.8% over the past 24 hours to $19750 but remains broadly zen. Against the backdrop of falling equity markets, the first cryptocurrency's balanced moves looked like a sign of domestic strength. But yesterday, the equity market marked a sharper rise than cryptocurrencies. Bitcoin is one move away from the top end of its trading range ($20300). But only a solid consolidation above this boundary should be considered a meaningful bullish signal. Ethereum is lying at its 200-week moving average for the third week. Perhaps the entire crypto market lacks an important external driver to switch to growth, although no meaningful decline exists. Crypto Zombies According to CoinShares, investments in cryptocurrencies increased by $10 million last week. The figure rose for the third week in a row, but the scale of investment indicates continued indecision. Bitcoin investments rose by $8m, Ethereum by $6m, and investments to short bitcoin rose by $2m.   According to CryptoQuant, bitcoin outflows from cryptocurrency exchanges have recently intensified, which could be seen as a bullish signal. US Senator Cynthia Lummis has expressed concerns about the national debt and rising inflation in the US. In her view, citizens should invest in bitcoin to preserve their funds. According to Nomics, some 12,100 cryptocurrencies have effectively stopped trading this year, turning into "zombies". Technically, the coins exist but have not shown trading volumes for at least a month.
Altcoins: Powerledger (POWR) - What Is It? - A Deeper Look Into the Powerledger (POWR) Platform

Altcoins: Powerledger (POWR) - What Is It? - A Deeper Look Into the Powerledger (POWR) Platform

Rebecca Duthie Rebecca Duthie 04.10.2022 18:34
Summary: What is The Powerledger and how does it work? What makes the Powerledger exchange unique? Powerledger’s present and future price positions. The Powerledger (POWR) exchange A technology startup called Powerledger (POWR) creates software for distributed and decentralized energy markets in the sake of a sustainable future. It has created a blockchain-based trading platform that makes it possible to track and trade commodities related to the environment, flexibility services, and energy. Its objective is to serve as the foundation for an entirely updated, market-based grid that gives consumers a choice in their energy while promoting the democratization of power. Powerledger, an Australian-based company with offices worldwide, has over 30 customers in 11 different nations. The Powerledger (POWR) and Sparkz coins are used by Powerledger, which runs on two different blockchain layers. The platform itself makes use of two blockchains: the open Ethereum blockchain and the closed EcoChainTM consortium blockchain. The POWR token is an ERC-20 token that serves as the authorization code needed for enterprises like utilities, operators of renewable energy sources, microgrids, firms committed to using only renewable energy sources, and real estate developers to use Powerledger's network. Through the Ethereum Smart Bond exchange, POWR is traded. 30 nations had attained grid parity in 2015, which meant that the cost of solar energy was either equal to or cheaper than the cost of regional retail electricity. Powerledger offers energy solutions that are more affordable and environmentally friendly than conventional energy alternatives. It does this by combining renewable energy and blockchain technology. With the ability to execute 50,000+ energy transactions per second, Powerledger's Proof-of-Stake Energy Blockchain enables Powerledger to develop and grow energy projects all over the world. Stake your POWR to participate in securing Powerledger's Energy Blockchain and to participate in transactions involving sustainable energy sources while earning incentives. Owners of renewable energy assets can choose who to sell their energy to and at what price using Powerledger. Trades are carried out across a supervised distribution network that offers a secure revenue source. Users can use a hardware wallet to protect their POWR. All wallets that accept Ethereum also support POWR, an ERC20 coin. The Uniqueness of Powerleger (POWR) uGrid, xGrid, TraceX, Vision, Power Purchase Agreements (PPA), Mode Flex, and Local Energy Market are among the products offered by Powerledger (LEM). The blockchain-based platform can be grown as necessary and contracted individually. Three major pillars serve as divisions for the merchandise. Trading in commodities related to the environment, flexibility, and energy traceability. Trading and traceability of energy. You can keep track of the source and movement of energy with the use of track and trade capabilities. It can enable peer-to-peer (P2P) trading and give users control over the energy they use. Without the need for subsidies, P2P solar energy trading can handle more solar power in the grid. trading with pliability. A marketplace called MODE, or the Marketplace for Optimisation of Distributed Energy, enables the owners of Distributed Energy Resources (DERs) and flexible loads to monetize their assets by offering grid services. trade in environmental commodities. Technology is being utilized to make trade in environmental commodities, such as carbon credits and renewable energy certificates, more efficient, secure, and transparent. Advantages of the Powerledger exchange Powerledger enables the increasing market of residential energy suppliers by providing them control over the use of their surplus energy. Because it acts as a mediator between the user and the electric provider (or the state), the legal and administrative aspects of the transaction are handled automatically, allowing consumers to purchase and sell energy with relative ease. Present and future prices of The Powerledger network (POWR) Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, POWR does fall under this category. According to some analysts, the future price of The Powerledger network (POWR) could reach up to $0.327 by 2025 and could see a price of more than $0.315 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. POWR Price Chart Sources: finance.yahoo.com, coinmarketcap.com, swapspace.co, coinswitch.co
Technical Outlook Of The Further Movement Of Bitcoin

Attempts To Reduce The Carbon Footprint Of Bitcoin

InstaForex Analysis InstaForex Analysis 05.10.2022 09:40
Crypto Industry News: Miners involved in bitcoin (BTC) mining have for years struggled with criticism related to high energy consumption, which translates into the environment. In search of solutions to the high energy demand for cryptocurrency mining, some countries have attempted to balance the amount, but still allow miners to run their current activities. To this end, the Argentine state-owned company - YPF - decided to supply unused gas to an international mining company, the media reported. . Martin Mandarano, CEO of YPF Luz, the YPF's renewable energy division, announced that a one-megawatt pilot project was launched in the south of Argentina three months ago. Its purpose was to provide energy generated from waste gases left over from oil extraction. Mandarano also mentioned that the company is working on another much larger - eight MW - pilot project. He announced his start at the end of the year. YPF Luz CEO said: "We started to develop this generation pilot program to mine cryptocurrency with a vision for sustainability and business based on natural gas from a flare that cannot be used during the exploration and early exploitation of an oil field. Attempts to Reduce the Carbon Footprint of BTC ". Another example of efforts to reduce the carbon footprint of bitcoin mining is the Lumos Digital Mining mining pool operating in South Australia. It is trying to mine the first cryptocurrency using solar energy. The mine is thus trying to become the first energy supplier of this type in the region. It currently provides around five megawatts of electricity to minimize bitcoin's carbon footprint. Similarly, in western Colorado, Aspen Creek Digital has started operating solar-powered bitcoin mining. Technical Market Outlook: The BTC/USD pair has been seen testing the supply zone again. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are extremely overbought, so a local pull-back towards the level of $19,891 is possible. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-10-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295497
Ethereum Could Drop Deeper As The Bias Remains Bearish

Staking Etherum Is Too Hard And The Ethereum Market Continues Previous Movements

InstaForex Analysis InstaForex Analysis 05.10.2022 09:49
Crypto Industry News: Following the proof-of-stake (PoS) transition of the Ethereum network, Ether (ETH) stacking now plays a central role in block validation and network security. However, some community members find the betting process too difficult, especially for the common people. Staking Etherum is too hard, community members say. On the Ethereum subreddit, a community member raised the topic of ETH betting and its difficulties. According to the user, it took him an entire weekend for everything to work. A user said this might be something that people with "tight" schedules cannot accept. In response to the thread, another community member also shared his ETH betting experience and mentioned the origins of Ethereum. The user noted that in those days, interacting with the blockchain was also difficult before more user-friendly options appeared. The community member also stressed that setting up the node requires "more effort than we might expect the average person to put into it." In addition to configuration difficulties, the issue of bandwidth consumption was also raised. Due to the high bandwidth consumption, the user said there was a risk of ISP shutdown. Another user mentioned that the costs of exceeding your internet data cap could possibly kill any staking gains. Technical Market Outlook: The ETH/USD pair has bounced from the demand zone and is heading higher towards the nearest technical resistance located at $1,358 - $1,378. The momentum is strong and positive, so ETH bulls are getting ready to follow the recent BTC rally. On the other hand, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,281, $1,267 and $1,255 and the technical resistance is located at $1,358 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2022-10-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295499
The Commodities Feed: China's 2023 growth target underwhelms markets

RBA Hike Sent A Wave Of Optimism But The Downside Risks Persist

Swissquote Bank Swissquote Bank 05.10.2022 10:17
Global equities, bonds, commodities and currencies rallied, as the US dollar eased further yesterday. Soft US JOLTS data, and softer-than-expected Reserve Bank of Australia (RBA) hike sent a wave of optimism across the global markets. But the downside risks persist with further US jobs data due today, and OPEC – which may announce a big cut in oil production. The US dollar index slid to 110 mark, the EURUSD advanced to parity, and Cable advanced to 1.1490. The USDCAD fell to the 1.35 on the back of softer US dollar and firmer oil. Commodities Market In commodities, gold tested the 50-DMA to the upside ($1730 per ounce,) while Bitcoin consolidated above the $20K mark. Today, the ADP report is expected to print 200’000 new private job additions in the US. A soft figure is what every investor is secretly praying for. In oil, according to the latest reports, OPEC could announce cutting oil output by 2 million barrels today. But, a big decline in OPEC supplies may not necessarily trigger a further price rally, as higher the energy prices, the sharper the central banks must kill demand to pull the prices lower. Watch the full episode to find out more! 0:00 Intro 0:35 Equities rebound 1:23 Elon will buy Twitter! 2:03 FX update: dollar down, majors, gold & Bitcoin up 2:38 What triggered the latest rally? 6:29 How could it last? 7:20 A big cut from OPEC could, also, backfire! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #OPEC #Russia #output #cut #energy #crisis #crude #oil #Apple #Tesla #market #rally #shortsqueeze #RBA #RBNZ #rate #hike #US #jobs #ADP #JOLT #data #USD #EUR #GBP #CAD #XAU #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

MasterCard Presents Security Solution. People Trust Crypto Less. Bitcoin (BTC) And Ethereum (ETH) Up

Alex Kuptsikevich Alex Kuptsikevich 05.10.2022 08:23
BTC and ETH Bitcoin rose 2.9% in the past 24 hours, surpassing the psychologically significant round level, now trading at $20.2K. Ethereum rose to $1350, adding 2%, which is in line with the entire crypto market valuation growth. The Bitcoin price is testing its 50-day moving average on Wednesday morning. Decisive buying from the level of this curve could signal the market is moving into the next phase with more active buying. Right now, however, we draw attention to the increased caution of investors in the sector, as the equity market looks much more buoyant. Glassnode estimates that 78,400 BTC belonging to miners could be at risk of liquidation if bitcoin falls below $18.3K. Volatility could intensify after an extended period of consolidation of around $20K. Mastercard Cryptocurrencies are losing popularity as an investment vehicle amid a bear market. According to a Bankrate survey, trust in digital assets has fallen the most among millennials, to 29% from 49% in 2021. The figure fell from 21% to 11% among the older generation. Read next: Reserve Bank Of New Zealand Raised Rates By 50bp Yet Again | In Anticipation Of The Next OPEC Meeting| FXMAG.COM Analyst firm Bolide Finance said investors prefer trading to stable returns in the DeFi sector, showing positive returns despite the crypto crisis and declining volumes. International payments company Mastercard has unveiled Crypto Secure, a solution allowing banks to detect and prevent fraud on trading platforms that support cryptocurrencies.   The developers of Telegram’s Wallet bot launched a P2P service for direct buying and selling of bitcoin and Toncoin (TON) between users.
WTI Crude Oil Gains After 4-Months, Palladium Futures, Rainfall To Improve Coffee Crop

WTI Crude Oil Gains After 4-Months, Palladium Futures, Rainfall To Improve Coffee Crop

Rebecca Duthie Rebecca Duthie 05.10.2022 12:10
Summary: OPEC+ meeting on Wednesday driving WTI Crude Oil prices. Rainfall in Brazil may improve coffee crop. WTI Crude Oil rising after 4 months After rising about 9% in the previous two days, WTI crude futures maintained close to $86 per barrel on Wednesday as investors prepared for an OPEC+ meeting where it is anticipated that a significant supply cut will be announced to bolster oil prices. The cartel is expected to meet in Vienna on Wednesday and is reportedly considering lowering production by as much as 2 million barrels per day, which is double the amount previously signaled and would be the largest reduction in output since the peak of Covid-19 lockdowns. The impending EU ban on Russian petroleum, which is scheduled to go into force in December, and a US-led plan to place a price cap on Russian oil also cast a shadow over the situation, and President Vladimir Putin threatened to retaliate by cutting off supply. The commodity markets were under pressure due to tighter monetary conditions, concerns of a recession, and a strong dollar. This week's gains came after four straight months of losses. As the organization was already having trouble meeting its output goals, concerns about the efficiency of the OPEC+ supply curbs continued. WTI Crude Oil Futures Price Chart Palladium climbed 21.61% since the start of 2022 Since the start of 2022, the price of palladium has climbed by 408.94 USD/t oz., or 21.61%, according to trading on a contract for difference (CFD) that monitors the benchmark market for this commodity. Palladium Dec ‘22 Futures Price Chart Coffee futures may be on the fall As showers in Brazil's coffee belt may improve the crop forecast, Arabica coffee futures on ICE extended losses toward $2.15 per pound, approaching levels not seen in more than six weeks. Rainfall in Minas Gerais, which makes up around 30% of Brazil's arabica crop, is predicted to bring much-needed moisture and enhance prospects for the crop in the top producer in the world the following year. The most recent data revealed that on September 30th, ICE-certified arabica stockpiles were at 426,180 bags, the lowest level in 23 years. Coffee Dec ‘22 Futures Price Chart Sources: finance.yahoo.com, tradingeconomics.com
Cryptocurrency Mining - What Is It? How To Do It?

Cryptocurrency Market: These Events May Affect Bitcoin Price In The Near Future!

Ed Moya Ed Moya 05.10.2022 22:57
The economy is too strong for the Fed to pivot. ​ The strong start to October is over after both a private payroll report and service sector data reminded investors how strong some parts of the economy remain. Deteriorating economic data is needed to drive down inflation and for the Fed to consider a slower pace of tightening. ​ If we continue to see resilience in the service sector, the Fed may have to remain aggressive with its rate hiking cycle. ​ ​ ​ Before the end of the year, but definitely not this month, the Fed will temper its hawkish stance. Inflation is still the driving focus and that data is not softening quickly enough. ADP/ISM Services A private payrolls report showed 208,000 jobs were created in September, roughly in line with the 200,000 consensus estimate. ​ After a couple of downbeat labor data readings, the ISM manufacturing employment component fell into contraction and JOLTS data lost over a million job openings, Wall Street was starting to grow confident that a labor market slowdown had arrived. ​ Hiring is slowing, but it seems the service sector is still holding up. ​ The ADP report showed the goods-producing sector lost 29,000 jobs, while service-providing jobs showed a gain of 237,000 positions. The ISM Services employment index rose sharply to the highest levels since March. ​ ​ ​ Traders might be disappointed if they were hoping for a sharp deterioration in hiring with the nonfarm payroll report. The early October rally might completely fade if the nonfarm payroll shows steady hiring and continued wage pressures. Crypto Reversal Wednesday is here and risk aversion has taken bitcoin tentatively below the $20,000 level. ​ The strong start to October is over and markets were quickly reminded that Fed pivot calls were premature once again. ​ After an ADP employment change report and ISM Services Index, traders were quickly reminded that the economy isn’t falling off a cliff and that the Fed might have to remain aggressive with its rate hiking cycle next year. Bitcoin’s fundamentals still support a healthy consolidation here and that should remain the case as long as we don’t see a double dose of robust hiring on Friday and much hotter-than-expected inflation next week. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Mid-market update: October rally over, robust service sector hiring, bitcoin drifts below $20k - MarketPulseMarketPulse
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Altcoins: You May Be Shocked With The Expectations For Ethereum Price (ETH/USD)!

FXStreet News FXStreet News 05.10.2022 15:51
Ethereum price enters a dangerous technical setup as price action fails to make new highs for October. ETH price is at risk of dropping back to $1,243 later this week. Expect to see pressure building on $1,243 with another leg lower towards $1,100. Ethereum (ETH) price action has been printing some nice gains with 7% on the docket in just two trading days this week. This third trading day indicates a change in sentiment that could see bearish pressures mounting. There is a risk that all gains from this week will be lost, and no new highs for the month will be printed. Further, bears may have an opportunity to break back below $1,200 by the end of the week if dollar strength kicks in. ETH price says goodbye to $1,400 forecast and instead welcomes in $1,200 Ethereum price takes a step back this morning with already -1% on the quote board as markets are rolling over in sentiment and seeing risk assets sold-off. The shift in sentiment comes from geopolitical tensions in Asia, where the US and South Korea have held joint exercises, including several missile attacks in response to North Korea after it launched a missile again on Tuesday. With the emergence of this new tail risk markets are worried that the US is poking the Chinese bear a bit too much. ETH price thus slips 1% for now and looks set to drop back to $1,300. From there, it is not that far to hit $1,243 and challenge that level as bears rush into the price action to drive it into the ground. This is because Ethereum bulls cannot make new highs for the week, which could point to a false bounce off support at $1,243. If that level breaks, $1,100 comes into play with the monthly S1 support level as nearby support to underpin the price action. ETH/USD Daily chart On the other hand, it is quite normal that markets would take a small step back as a three-day-winning streak is quite exceptional unless a big positive catalyst comes into play. If so, and a more bullish catalyst comes into play, expect this to be a phase purely of profit taking, and a small step back before further advances in price action. If so, a rally could materialise and pick up speed again by Friday towards $1,400.
A New Ethereum Index Fund And The Ethereum Market Continues Its Trend

A New Ethereum Index Fund And The Ethereum Market Continues Its Trend

InstaForex Analysis InstaForex Analysis 06.10.2022 10:38
Crypto Industry News: Institutions continue to expand their offerings in the cryptocurrency realm as global regulators increasingly seek to establish a working framework to deal with an emerging asset class as adoption surges. Recently, Fidelity Investments launched a new Ethereum Index fund that will provide its clients with Ether (ETH) exposure, according to a document filed by the company with the SEC on September 26. The new fund accepts a minimum outside investment of $ 50,000, and has already recorded over $ 5 million in reported sales. The multi-million dollar asset manager originally launched its cryptocurrency-focused institutional depository and trading platform Fidelity Digital Assets in 2018. The company now offers two exchange-traded crypto funds that are dedicated to digital payments and the metaverse market. This latest change follows a disclosure last month that Fidelity Investments is considering the idea of allowing all its retail clients to access Bitcoin (BTC) trading directly through its brokerage platform. Fidelity Digital Assets is also part of a group of institutions that support the launch of EDX Markets (EDXM), "a first-of-its-kind exchange that will meet the hidden demand for digital asset trading by enabling safe and compliant digital asset trading through trusted brokers." Technical Market Outlook: The ETH/USD pair keeps heading higher towards the nearest technical resistance located at $1,4017. The momentum is strong and positive on the H4 time frame chart, so ETH bulls are getting ready to follow the recent BTC rally. On the other hand, the next target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical support is seen at the level of $1,372, $1,358 and $1,345 and the technical resistance is located at $1,402 and $1,407. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295699
Genesis Block Actually Started Liquidating Its Crypto Business

MicroStrategy Has Announced A Full-time Recruitment For The Lightning Network Software Engineer Vacancy

InstaForex Analysis InstaForex Analysis 06.10.2022 10:34
Crypto Industry News: MicroStrategy is known in the cryptocurrency community for its bullish attitude towards bitcoin. The company is a corporate leader in terms of the amount of bitcoins it holds, and its director - Michael Saylor - regularly speaks of superlatives about the first cryptocurrency. Now, a mobile software company that deals with cloud-based services and business intelligence (BI) has announced a full-time recruitment for the Lightning Network software engineer vacancy. MicroStrategy has published a job offer for a Lightning Network software developer. After the electronics giant purchased another 301 bitcoins (BTC) last week, it has now posted a job offer. It concerns full-time employment of a person for the position of Bitcoin Lightning software engineer. The new developer will be tasked with creating a software-as-a-service (SaaS) platform for MicroStrategy based on the Lightning Network. This is to use it for use cases in e-commerce and to establish cooperation with companies looking for payment solutions. Technical Market Outlook: The BTC/USD pair has been seen testing the supply zone again. Only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are extremely overbought, so a local pull-back towards the level of $19,891 is possible. The nearest technical support is seen at $19,096 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout. Relevance up to 09:00 2022-10-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295695
Bitcoin Has Made A Dynamic And Aggressive Reversal

Cryptocurrency Market: Stronger Dollar And Weaker Stocks Made Bitcoin Decrease On Wednesday

Alex Kuptsikevich Alex Kuptsikevich 06.10.2022 13:42
Bitcoin sales reduced Bitcoin was down 1.7 per cent on Wednesday, ending the day at around $20K amid a retreat in stock indices and a stronger USD. BTC corrected downwards after a two-day rise. The cryptocurrency Fear and Greed Index was up 1 point to 26 by Thursday and stepped up from "extreme fear" into "fear" status. The $20.3K mark has been acting as local resistance for over three weeks. On Thursday morning, we continue to see selling pressure at this level. In other markets, it is also easy to see the doubts among the players whether the risk demand has started to recover. Investors and traders are waiting for signals from the Fed or other central banks to start the rally. Either a clear sign that "this time is different" and that the weak economy will not cause regulators to soften. Those with the glass half-full note that the active phase of price declines has dried up, and we are speculating about when the price will start to rise, but not how deep the plunge will go. According to CryptoQuant, miners sharply reduced bitcoin sales in September after the August reset, shifting to holding reserves. The leading crypto as a "good store of value"? Galaxy Digital head Michael Novogratz said that in the current environment, bitcoin could still be a good store of value but was unlikely to exceed $30,000 by the end of the year. According to him, BTC has fallen under the sledgehammer of the Fed's fight against inflation, and only a softening of this policy could cause the market to grow. The international payments system SWIFT has reported a successful test of a full-scale Central Bank Digital Currency Deployment (CBDC). According to Chainalysis, the Middle East and North Africa (MENA) region has led the way over the past year in adopting cryptocurrencies in various areas of life. Latin America and North America follow with 40% and 36% respectively. In the third quarter, the crypto industry lost $428 million from hacks and scams, experts at bounty platform Immunefi calculated. There were 39 incidents, of which 30 were actual hacking attacks with a total loss of $399m.
Sber And First Issue Of Gold-Backed Digital Financial Assets

Crypto Market And The Scaling Solution Continues Its March Upwards| Bitcoin Keeps Its Downtrend

InstaForex Analysis InstaForex Analysis 07.10.2022 10:50
Crypto Industry News: The total capacity on public channels of the total capacity of the Bitcoin Lightning Network exceeded 5,000 BTC for the first time. This means greater liquidity allowing users to make faster payments and potentially higher transaction volumes. Over the past four years, the network has faced a lot of criticism, mostly from supporters of other blockchains. The current year is a difficult one for the cryptocurrency market. However, the scaling solution continues its march upwards. This increase can be attributed, inter alia, to speculation, trading, leverage or any potential VC funded incentive that depends on the exploitation of the retail market by players. Technical Market Outlook: The BTC/USD pair has been seen testing the supply zone, but the test failed and the market reversed lower again. THis supply zone is very inportant from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are already neutral, so a local pull-back towards 30 periods moving average is possible. The nearest technical support is seen at $19,796 and $19,256. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,869 WR2 - $19,490 WR1 - $19,335 Weekly Pivot - $19,190 WS1 - $18,955 WS2 - $18,731 WS3 - $18,351 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 08:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295858
Residents Of Brazil Will Not Be Able To Use Cryptocurrencies As Legal Tender

Canada Cryptocurrency Adoption Report| In The Ethereum Market Downtrend May Be Extended

InstaForex Analysis InstaForex Analysis 07.10.2022 11:00
Crypto Industry News: Ontario Securities Commission (OSC) chief executive Grant Vingoe said Canadian authorities planned to publish a report in October that will include data on cryptocurrency adoptions in Canada. Reportedly, over 30% of Canadians plan to buy cryptocurrencies in 2024, he adds. Grant Vingoe, CEO of the Ontario Securities Commission, echoed Canada's technology-neutral stance on cryptocurrencies, while saying that many Canadians plan to become HODLers in the near future. In an inaugural address to the Economic Club of Canada on October 6, Vingoe said the stock and bond regulatory base also applies to "cryptocurrency contracts" with "the vast majority of cryptocurrency-backed entities" falling under the jurisdiction of the OSC. "As securities regulators [we must work to ensure that] none of the characteristics of cryptocurrency assets or their underlying technology, neither positive nor negative, determine our regulatory approach. We are not here to pick winners and losers from our investments. We are cautiously and technology-neutral to all new products that come to our market, and we use the same reasoning to evaluate them. " Technical Market Outlook: The ETH/USD pair made a Shooting Star candlestick at the level of $1,348 and started a pull-back. The nearest intraday technical support is seen at the level of $1,317 and the intraday technical resistance is located at the level of $1,358 and $1,372. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. Nevertheless, the bears would have to break below the demand zone located between the levels of $1,255 - $1,281. Weekly Pivot Points: WR3 - $1,360 WR2 - $1,320 WR1 - $1,306 Weekly Pivot - $1,283 WS1 - $1,268 WS2 - $1,245 WS3 - $1,206 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/295860
The President Of El Salvador Continues To Promote Bitcoin

The Current Decline In The Cryptocurrency Market Is Directly Related To The Monetary Policy Of The Fed

InstaForex Analysis InstaForex Analysis 07.10.2022 11:21
Bitcoin closed the trading session almost unchanged on Thursday - at a level slightly above $20,000. At the time of writing, the cost of BTC is balanced at $19,983. The day before, the first cryptocurrency was in strong demand in the Asian session, but later lost all its achievements amid a spectacular fall in US stock indices and the strengthening of the US dollar. So, on Thursday, the Dow Jones Industrial Average sank by 1.15%, the S&P 500 lost 1.02%, and the NASDAQ Composite fell by 0.68%. The main reason for the negative on the US stock exchanges was the decision of OPEC+ to reduce quotas for oil production. Thus, the Organization of the Petroleum Exporting Countries agreed to reduce production by 2 million barrels per day in November in order to support falling prices. In the near future, investors are confident that this OPEC+ decision will push global inflation to a steady growth. By the way, since the beginning of 2022, analysts have increasingly begun to emphasize the high level of correlation between the US securities market and virtual assets amid intense expectation by both of the consequences of the geopolitical conflict in eastern Europe and the next steps of the US Federal Reserve. Earlier, analysts of the investment company Arcane Research have already stated that the correlation of BTC and technology securities has peaked since July 2020. In addition, economists of the analytics platform TradingView said that the relationship of the cryptocurrency market with the US stock market in the last quarter reached 70%. The current situation looks rather ironic, because since the advent of cryptocurrency, it has been positioned as the main means to protect against inflation and price volatility in traditional markets. However, in recent months, digital assets have increasingly correlated with stock markets, which makes one doubt the success of virtual coins. On Thursday, analysts from the American investment company Ark Invest reported that, since spring, holders have accumulated a record amount of bitcoin, buying up an asset at a falling price. At the moment, they control about 13.7 million BTC – 71.5% of the total coin supply. This state of affairs, Ark Invest says, significantly eases the pressure on the main cryptocurrency. No less optimistic forecasts regarding cryptocurrencies are also held by experts of the financial company DappRadar, who stated that in the third quarter of 2022, the digital asset market entered a long phase of consolidation. The recovery of virtual coins, DappRadar is certain, began in September. At the same time, in the period from July to September, the value of digital currencies collapsed by 8.5%. The first signs of recovery appeared only at the end of last month. One of the most important events of this was the renewal of Ethereum. So, on the morning of September 15, the Ethereum network successfully migrated from the Proof-of-Work (PoW) algorithm to Proof-of-Stake (PoS), which does not require mining. The migration happened as part of a major update of The Merge. At the same time, in the first hours after the transition of ETN to the Proof-of-Stake algorithm, a powerful influx of altcoins to centralized exchanges was observed. On the same day, the founder of the ETH network Vitalik Buterin confirmed its successful transition to PoS and the absence of failures or errors in the update process. By the way, earlier the Canadian-Russian programmer stated that the transition of the network to Proof-of-Stake will increase the popularity of digital assets for everyday payments by reducing the commission to 2 cents. According to Buterin, the popularity of crypto payments fell after 2018 amid high transaction fees. To date, ETN continues to be the leader in the ranking of blockchains in terms of the number of deployed DeFi projects. The cost of funds in protocols placed on the basis of ETH by the end of September exceeded $ 48 billion. The focus of crypto investors on Friday is the report on employment in the non-agricultural sector of the United States (NFP), which will help the Federal Reserve determine the future path of the country's monetary policy. According to preliminary forecasts of analysts, 250,000 jobs were created in the non-agricultural sector of America in September - less than in the previous month, but enough to continue the hard line of the US central bank. By the way, the current decline in the cryptocurrency market is directly related to the monetary policy of the Fed. So, recently, experts of the analytical company Kaiko reported that the volatility of BTC significantly depends on the results of meetings of members of the US central bank. According to analysts from Kaiko, the high correlation of bitcoin with the Fed's decisions was recorded in the summer of 2021, which indicates that the cryptocurrency market has long been influenced by key macroeconomic indicators.   Relevance up to 09:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. Read more: https://www.instaforex.eu/forex_analysis/323696
Bitcoin Is Showing A Good Sign For The Further Rise

Cryptocurrency: FTX CEO Comments On "Stability" Of The Market

Alex Kuptsikevich Alex Kuptsikevich 07.10.2022 10:17
Extreme Fear in cryptocurrency market Bitcoin has lost 1.9% over the past 24 hours, trading just below $20K at the time of writing. A sharp spike in stock markets has bogged down in indecision over the past few days, keeping investors in the crypto market, whose capitalisation lost 1.6% overnight to $956, from buying as well. Once again, the 50-day moving average in BTCUSD acted as local resistance, keeping the market inside the range that has prevailed since the second half of September. Buyers' hesitancy at the 50-day moving average indicates a persistent wait-and-see attitude, which has almost equal chances to both translate into a new downside momentum and be reborn into growth. The cryptocurrency Fear & Greed Index dropped 3 points to 23 by Friday and moved back into "extreme fear". Read next: Terra's Worker Arrested! White House Comment On The OPEC Decision And Success of Deutsche Bank | FXMAG.COM Situation in cryptocurrency market may leave us with mixed feelings  Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, said that we had recently seen some stability in the crypto market. However, the Fed's tightening monetary policy affects all assets, causing cryptocurrencies to fluctuate along with fiat currencies and stock indices. Check out our video comment on RBA decision: According to Ark Invest, hoarders have accumulated a record 13.7 million coins, or 71.5% of the total BTC supply, buying the cryptocurrency on the decline since spring. In addition, sellers have all but exhausted their sales potential. Last week, bitcoin's correlation with gold reached its highest level in more than a year due to a stronger dollar, Kaiko noted. Gold and BTC failed to reassert their haven asset status amid a Fed rate hike. The EU has imposed a ban on Russian crypto wallets, which will primarily affect the large centralised and regulated Binance and Coinbase, potentially increasing interest in smaller exchanges with softer KYC but generally risking more active cryptocurrency sales.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Cryptocurrency Trading Volumes Will Remain Near The Lows

InstaForex Analysis InstaForex Analysis 07.10.2022 13:09
The market capitalization of the cryptocurrency is actually stuck near the level of $955 billion. Even despite the increase in bullish signals, there are no significant changes in the price movement of the entire market. Why is the crypto market worth it? The main reason for the lack of significant price movement is the DXY index. The indicator peaked at 114, after which it began to decline. However, the corrective movement has not yet passed into the phase of a full-fledged downward trend. And this stops the growth of capitalization of high-risk assets. In 2022, most central banks launched an aggressive monetary policy aimed at fighting inflation by reducing the availability of money. Due to the decrease in financial opportunities, the level of interest in risky assets also falls. The main indicator of interest in high-risk assets is the DXY index. The indicator is gradually starting to decline, while the SPX has shown growth for three days in a row. In the short term, this may mean the emergence of a local bullish trend for major cryptocurrencies. ETH/USD Analysis The main altcoin continues to move within the framework of consolidation in the range of $1,200–$1,400. The cryptocurrency cannot go beyond the zone due to the downward trend line. As of October 7, ETH trading volumes are not enough for a full breakout. Technical metrics continue to point to the continuation of the flat price movement. RSI and stochastic are moving in the bullish zone but without hints of bullish signals. However, given the low trading volumes, if the price breaks out of the range, then this will be an impulsive movement. At the same time, Santiment analysts point to the active growth of new ETH wallets. Glassnode also noted that the number of ETH addresses with a balance of 1 Ether reached an absolute maximum of 1,580,000. This is a positive signal indicating a growing interest in the altcoin, and as a result, an increase in trading volumes. For the past two weeks, ETH has stood still without significant attempts to break out of the range. Given the approaching DXY correction, as well as the growing interest in Ethereum, we should expect the emergence of a local bullish trend. However, it is unlikely that the trading volumes needed to move up will appear over the weekend. BTC/USD Analysis The main news regarding BTC was the increasingly obvious uncorrelation with the S&P 500 stock index. Formally, assets retain the similarity of the dynamics of price movement. However, Bitcoin does not come close to implementing the upward jerks that SPX makes. This may indicate a worrying trend that the upcoming DXY correction will be a bullish leg for the stock market. Throughout the week, the US markets have been talking about the high potential of the S&P 500, NASDAQ, and Jones. As a result, BTC formally follows SPX, but most of the investment is concentrated in the stock market. If this fact is confirmed, then the potential for the likely upward movement of Bitcoin will be much less. Despite the disturbing news about the "relationship" between cryptocurrencies and stock indices, there are also positive signals. Glassnode analysts noted that more than 45% of all BTC have not moved for two years. This is an important signal indicating a high level of long-term investors, who are the main fuel for the fundamental value of the asset. In addition, CryptoQuant shed another ray of light on Bitcoin's commitment to the $20k level. Experts believe that the price of the cryptocurrency is at the level of the aggregate breakeven of institutional investors. This could be another reason for the strong support zone near $20k. Miners continue to be the main suppliers of BTC to crypto exchanges. One of the major American miners, Core Scientific, produced 1,213 in September, which is not 9% less than in August. At the same time, the company had to sell 1,576 BTC, which negatively affected the price of Bitcoin. Conclusions One by one, Fed officials have announced low chances for monetary easing in 2023. Powell has adjusted his inflation forecast for 2023, and now the acceptable figure is at the level of 3%. It's an admission that part of inflation is out of control. With this in mind, cryptocurrency trading volumes will remain near the lows. Therefore, the main stages of price growth will be the correction of the US dollar index. In the medium term, the forecast remains valid—cryptocurrencies will start to grow, and the first visible signals for this may appear next week.   Relevance up to 10:00 2022-10-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323708
Bitcoin Is Showing A Good Sign That Buyers Are In Control

What Could Today's NFP Release Mean For Bitcoin? What May Happen If Support Of $18.800K Is Broken?

FXStreet News FXStreet News 07.10.2022 15:54
Bitcoin price continues to consolidate around the $19,000 to $20,000 levels for the second week. Market participants should be prepared for a sweep of $17,593 if the $18,800 support level fails to hold. A breakdown of the $15,551 support level will signal an invalidation of the bullish outlook. Read next: Terra's Worker Arrested! White House Comment On The OPEC Decision And Success of Deutsche Bank | FXMAG.COM Bitcoin price has been in a steady consolidation for more than two weeks and shows no signs of directional bias. However, the Non-Farm Payrolls (NFP) announcement on October 7 could trigger a volatile episode for BTC that could resolve its range tightening and establish a directional bias. Bitcoin price and the big picture Bitcoin price remains above $19,157, which is the highest traded volume level for 2022, aka Point of Control (POC). As mentioned in the previous article, buyers are safe as long as BTC remains above the POC; however, a breakdown could result in a steep correction to the next high-volume node at $15,551. Beyond this support floor, there are two crucial levels at $13,575 and $11,989, where a macro bottom could occur for BTC. Not a lot has changed on this three-day chart for Bitcoin, but investors need to keep a close eye on the POC at $19,157 and the immediate support level at $15,551. BTCUSDT 3-day chart The next important chart is the eight-hour chart of Bitcoin price coupled with the Relative Strength Index (RSI), which has accurately predicted the local top/bottom formation since May 30. After a brief consolidation between the $18,000 and $19,000 levels, Bitcoin price shot up to $20,400, and the RSI also broke above the 43 to 46 hurdle and flipped it into a support level. The rally that originated here formed a local top at $20,500, which coincided with RSI forming the seventh top at the 65 to 72 hurdle. A closer look at the Bitcoin price shows a bear flag in play. As the name indicates, this technical formation contains a flagpole, which was formed as BTC crashed 18% between September 12 and 19. The consolidation in the form of an ascending parallel channel resulted in the flag formation. A breakdown of this technical pattern forecasts an 18% downswing to $15,800, obtained by adding the flagpole’s height to the breakout point at $19,417. BTCUSDT 8-hour chart Additionally, the realized price of whales holding more than 1,000 BTC is around $15,800. The realized price of these BTC is calculated by taking into account the volumes flowing in and out of exchanges and the Bitcoin price at that time. Interestingly, this number coincides perfectly with the technical forecasts, adding more credence to the possibility of a steep correction to $15,800. BTC Realized Price While the initial outlook for Bitcoin price might seem bearish from the above explanation, investors should look at this potential crash to $15,800 as an opportunity to accumulate BTC and altcoins at a discount. A surge in buying pressure at this level that results in a U-turn could be the best buying opportunity before Bitcoin price kick-starts a run-up to fill the CME gap, extending from $27,365 to $28,740. These gaps are formed in Bitcoin price as the Chicago Mercantile Exchange (CME) halts trading at the weekend. Therefore, a rebalance of these inefficiencies could be another key driver that triggers a reversal at $15,800. BTCUSD CME 12-hour chart On the other hand, if the selling pressure continues to build up on the back of rising geopolitical tensions and worsening economic conditions, Bitcoin price could crash to $15,800 and fail to recover. If this downswing pushes BTC to flip the $15,551 support level into a resistance barrier, it will invalidate the bullish thesis detailed above. In such a case, market participants should prepare for a potential crash to $13,575 and $11,989.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Grayscale Assumes That Bitcoin Will Return To Higher Values

InstaForex Analysis InstaForex Analysis 10.10.2022 11:20
Crypto Industry News: Grayscale, the world's largest cryptocurrency asset manager, announced a new investment providing exposure to BTC miners. The fund will raise money to buy Bitcoin ASIC machines that will be operated by Foundry Digital to mine and sell crypto on behalf of investors. According to Grayscale's website, the company aims to create an income stream that differs from "traditional revenue-oriented investments." The company will strive to buy mining hardware, buy and sell Bitcoins on a daily basis, and distribute operating income quarterly to investors. Grayscale assumes that Bitcoin will return to higher values as part of a four-stage mining cycle: "Rising Bull", "Mining Gold Rush", "Inventory Flush" and "Shakeout". The company says the mining cycle has entered an "Inventory Flush" phase where the hash rate remains high, but Bitcoin's price has dropped significantly. According to the theory, the next "bump" will lead to a drop in mixing speed as miners will be forced to shut down their machines. The product is available to accredited investors only and requires a minimum investment of $ 25,000. Technical Market Outlook: The BTC/USD pair has been seen trading inside a narrow zone all weekend long, so the volatility is drying up. The supply zone (marked as a red rectangle) is very inportant for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 10:00 2022-10-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296074
The EU Will Move Forward With The Implementation Of The Digital Euro

The Main Motivator For Issuing CBDC In India Is To Reduce The Operational Costs

InstaForex Analysis InstaForex Analysis 10.10.2022 11:31
Crypto Industry News: The Indian Reserve Bank listed the advantages and disadvantages of a digital e-rupee. He also provided more details about his CBDC in a 51-page note released on October 7. The Central Bank of India is working to increase awareness of CBDCs, which are developed by many central banks around the world, and to clearly define the goals as well as the potential positive and negative aspects of the digital rupee launch. The bank's document summarizes the key motivations for the issuance of the Indian CBDC project, emphasizing trust, security, liquidity, as well as the finality and integrity of the settlement as key elements of a sovereign digital currency. The main motivator for issuing CBDC in India is to reduce the operational costs of managing cash in the country. In addition to an increasingly resilient, efficient and innovative payment system, the bank also touts the improved financial integration that CBDC can guarantee. On top of that, the system of cross-border payments and settlements may be improved. However, the document also contains the bank's view that cryptocurrencies pose a significant risk to Indian consumers due to exchange rate volatility. "These digital assets undermine India's financial and macroeconomic stability due to their negative impact on the financial sector," it wrote. The central bank also highlighted its concerns that the continued spread of cryptocurrencies would diminish its ability to regulate monetary policy and the monetary system, which it sees as a threat to financial stability in India. The digital rupee has been touted as providing the same benefits as cryptocurrencies while "providing consumer protection" by avoiding what has been termed "harmful social and economic consequences." The note below presents the differences between retail and wholesale CBDCs, the former serving the public sector while the latter serving financial institutions. Authorities suggested that it might be appropriate to bring both forms to the Indian market. Technical Market Outlook: The ETH/USD pair made a Shooting Star candlestick at the level of $1,348 and started a pull-back. The nearest intraday technical support is seen at the level of $1,317 and the intraday technical resistance is located at the level of $1,358 and $1,372. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. Nevertheless, the bears would have to break below the demand zone located between the levels of $1,255 - $1,281. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-10-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296076
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Digital Assets: Ethereum And BTC Correlation. Fidelity's ETH Index Fund

Crypto.com Accelerate the... Crypto.com Accelerate the... 10.10.2022 15:56
BTC and ETH correlation dips. MakerDAO allocates US$500M to bonds. Fidelity launches Ethereum index fund. Chart of the Week: BTC and ETH Still the Perfect Pair? The two largest cryptocurrencies, BTC and ETH, had been moving very much in lockstep, with a correlation (rolling 90-day) of around 0.9 or above (1 would be a perfect correlation), for most of the year. However, since mid-July, the correlation dropped sharply, reaching a low of 0.6 in September. It has since started to crawl back upwards.   The Merge was an idiosyncratic factor specific to ETH back in September and intensifying risk-off sentiment brought about in large part by macro risks (e.g. interest rate hikes, geopolitical tensions) might also have favoured BTC over ETH for some traders, causing the two to move less in lockstep. Our recent report Alpha Navigator (Sep 2022) provides a more in-depth analysis of macro trends and correlations between different crypto coins. Crypto Fund Flow Tracker The aggregated exchange balance for BTC dropped sharply over the past week, perhaps a sign of increasing investor inclination to hold. No significant movements were seen in OTC (over-the-counter) desks’ balance for BTC. OTC desks are typically used by larger investors. Crypto Derivatives Pulse Following ETH, the put-call ratio for BTC is also now at a yearly low, potentially implying less cautious sentiment. Additionally, implied volatilities (vols), another often used measure of risk, are at their lowest since June; 1-month implied vol currently stands at 59.3% (vs. 65.0% a week ago) and 73.0% (vs. 82.7% a week ago) for BTC and ETH, respectively.  Perpetual futures funding rates continue to print positive (longs pay shorts) for BTC, while ETH’s are close to neutral after streaking negative (shorts pay longs) for the past 2-months. Leveraged traders’ net-short position in CME Bitcoin futures appears to have reversed course and has been increasing recently.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. Crypto Price Movements     Crypto News Highlights MakerDAO, issuer of the stablecoin DAI, has allocated US$500M for investing in U.S. Treasury and corporate bonds, to diversify its reserves. The funds will come from its overcollateralised stablecoin, with 80% going to short-term U.S. Treasury bonds and 20% to investment-grade corporate bonds. Fidelity Investments is launching the Fidelity Ethereum Index Fund, which currently has US$5M in assets. The fund will track the Ethereum price, is available to accredited investors, and the minimum investment is US$50K. Marathon Digital, one of the largest stock-exchange listed Bitcoin miners by market cap, revealed an exposure of US$81.3M in the now-bankrupt Compute North, which was one of the biggest operators of crypto-mining data centres. Crypto asset management firm Grayscale is launching Grayscale Digital Infrastructure Opportunities (GDIO), a private co-investment product focused on Bitcoin mining hardware. GDIO will invest in mining equipment at what Grayscale expects to be discounted prices due to the crypto winter. The equipment will then be used to mine and sell Bitcoin, generating income for investors. BNB Chain, the blockchain of Binance, suspended all deposits and withdrawals after its cross-chain bridge was exploited. It is estimated that the attackers made off with US$100M worth of cryptocurrency.  Catalyst Calendar             Author Research and Insights Team Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET Source: Market Pulse (10/10/2022) (crypto.com)
The Difficulty In Extracting Subsequent BTC Blocks Has Achieved The Highest Level

The Difficulty In Extracting Subsequent BTC Blocks Has Achieved The Highest Level

InstaForex Analysis InstaForex Analysis 11.10.2022 11:54
Crypto Industry News: The difficulty of mining the first cryptocurrency on October 10 was at its highest historical level. The latest estimates indicate its jump by 13%, which means that it is at the level of 35.61 trillion hash. The difficulty in extracting subsequent BTC blocks has exceeded the highest level of 35.61 trillion hashs today. The reasons for this situation can be found in the fact that miners are intensifying their work on mining bitcoin, or that more and more people are joining the network for this purpose. Mining difficulty is an automatically adaptive function of the Bitcoin protocol. It is a measure of how much work it takes to mine the next BTC block. It has been implemented to ensure that blockchain transactions are processed at a steady pace, i.e. 10 minutes. The difficulty is encrypted every 2016 blocks according to the hash rate changes. Recent data suggests that it has increased by 13% to 35.61 trillion, the largest upward revision of Bitcoin mining difficulty since mid-2021. As a result, this will create some difficulties for bitcoin miners to compete with each other to solve the problem of the complex cryptographic calculations. These are solved using specialized hardware chips, i.e. application-specific integrated circuits (ASICs). Technical Market Outlook: The BTC/USD pair had broken out of the local trend line and the Falling Wedge price pattern as the new local low at the level of $18,965 was made. The supply zone (marked as a red rectangle) is very inportant for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 09:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296276
Look At Comments On Bitcoin Prices, Ethereum Market And If The CEO Of Polkadot Is Resigning

Over A Year Ago, El Salvador Decided To Accept Bitcoin As A Means Of Payment| The Situation On The Ethereum Market Remains Unchanged

InstaForex Analysis InstaForex Analysis 11.10.2022 11:58
Crypto Industry News: It's been over a year since El Salvador recognized bitcoin as legal tender. In late September, the country's president, Nayib Bukele, wrote an article in which he defends his decision regarding the cryptocurrency. According to the President of El Salvador, if his country's bitcoin experiment is successful, many other countries around the world will go in the same direction and start accepting BTC. In an article titled "Stop Drinking the Elite's Kool-Aid", which was published on September 30, 2022 in English and Spanish, Bukele criticized his critics who continue to attack him for his pro-bitcoin policy. . "The most vocal critics are those who fear and pressure us to change our policies, they are the powerful elites of the world and the people who work for them or benefit from them," Bukele explained in his article. "They used to have everything and in a way still have their hands on the media, banks, NGOs, international organizations and almost all governments and corporations in the world," he adds. Bukele also denies reports by "Bloomberg, Forbes, Fortune, Financial Times, Deutsche Welle, BBC, Al Jazeery, The Guardiana, The New York Times, and The Washington Post" claim that "the country's economy has been devastated by a loss of $ 50 million. dollars "that El Salvador has incurred as a result of investing in BTC. The president adds that his country has lost nothing because it has not sold a single bitcoin. Technical Market Outlook: The ETH/USD pair has been seen penetrating the demand zone located between the levels of $1,281 - $1,255. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305. The weak and negative momentum supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade Read more: https://www.instaforex.eu/forex_analysis/296278
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

Trailers For An Upward Move Have Appeared On The Ethereum Market

InstaForex Analysis InstaForex Analysis 11.10.2022 12:56
The cryptocurrency market and Ethereum continue to move within a narrow range of fluctuations. The main altcoin attempts to leave the area of movement, but rests on a strong area of resistance and fundamental factors. The main altcoin remains dependent on Bitcoin, and, accordingly, on the state of stock indices and Fed policy. Given that the state of the main cryptocurrency leaves much to be desired, Ethereum is moving within a narrow range. Any bullish attempt to exit the corridor ends in failure due to BTC pressure. Markets expect the key rate to rise to 4.5% by early 2023. This means that in the medium term, the growth of Ethereum will be possible with a correction in the US dollar index and a parallel bullish trend in Bitcoin. In the short term, the probability of going beyond the current range of $1,200–$1,400 is unlikely. Ethereum on-chain activity Ethereum network indicators show bullish signals, which is usually a harbinger of an upward movement. Santiment notes a sharp increase in the number of unique addresses in the altcoin network. This may indicate a growing interest in ETH and a likely increase in trading volumes. However, after peaking in mid-September, Ethereum trading volumes continue to fall. This is a negative signal indicating low purchasing power and lack of interest in the asset. Also, low volumes indicate a divergence between trading volumes and the number of unique addresses. This means that an increase in the number of addresses does not provoke an increase in trading activity and, as a result, does not entail an increase in the price. The trading volume metric will likely start to catch up with the growing number of addresses on the ETH network. However, as of October 11, the surge in new addresses does not lead to an increase in trading activity and an increase in ETH/USD quotes. The Net Realized Profit/Loss on-chain metric also indicates low trading activity and a lull in most addresses. On the one hand, this confirms the fact that the growth in the number of unique addresses did not drastically affect the state of ETH. On the other hand, NRPL says that most of the investors have shifted to long-term ownership. ETH/USD technical analysis As of October 11, Ethereum is trading near the $1,300 level. The asset has fallen in price by 5% over the past seven days and continues to move in a narrow range of $1,200–$1,400. As we have already understood, the current volumes of the altcoin will not be enough to independently exit the price fluctuation corridor. Technical metrics confirm the absence of prerequisites for the emergence of impulses. The RSI and the stochastic oscillator are moving flat with no signals for a bullish momentum. The MACD indicator is also moving flat below zero, which indicates that there are no prerequisites for growth in the medium term. ETH/USD will likely continue to fluctuate within the specified range. There are no obvious prerequisites for the formation of an important figure in technical analysis. The coin is still unable to break through the downward trend line, and therefore, when planning active trading actions in relation to ETH, it is important to look first of all at BTC, SPX, and DXY. Moreover, the presence of certain signals on the charts of other financial instruments does not guarantee price movement. In the current stage of the market, trading volumes play a decisive role when trying to leave a range or realize a bullish momentum. Given the minimum volumes of ETH with a growing number of addresses, there is no reason to expect a significant increase (out of range) this week.   Relevance up to 10:00 2022-10-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/323969
Altcoins: Pandorium (PAN) - What Is It? - A Deeper Look Into the Pandorium (PAN) Platform

Altcoins: Pandorium (PAN) - What Is It? - A Deeper Look Into the Pandorium (PAN) Platform

Rebecca Duthie Rebecca Duthie 11.10.2022 14:43
Summary: What is The Pandorium and how does it work? What makes the Pandorium exchange unique? Pandorium’s present and future price positions. The Pandorium exchange Describe Pandora. An Unparalleled Approach to DeFi By relying on AMM, GameFi, and multitasking NFTs, Pandora creates a revolutionary, decentralized PandoVerse that is holistic and transforms people's interactions with DeFi on an emotional as well as a financial level. The dual-token approach and inclusive incentive structure of Pandora's next-generation decentralized ecosystem benefit both merchants and farmers. The Pandora protocol is centered on NFT gaming and AMM, and it is powered by two unique tokens: the reward token Pandorium and the governance token Pandora Spirit (PSR) (PAN). By introducing a governance token called PSR that was totally pre-mined and has a deflationary burning mechanism, Pandora avoids the drawbacks of traditional decentralized protocols. The main motivation for Pandora's user base is the reward token PAN. Its minimum value will be determined by the jackpot and the NFT staking pool. The value of PAN cannot go below its minimal value at any time in the future. PAN should have a limitless supply, however as of the writing of this article, 5,777,315 PAN were in use. Additionally, 3,468,972 PAN were burned. Pandora ecosystem's reward token is called Pandorium (PAN). It encourages users' participation in the PandoVerse, which is a component of the system's gamification. Users can easily earn PAN by transacting on Pandora's exchange thanks to the Trade Mining system. Users can also purchase PAN on the exchange or participate in PandoFarms and PandoPools to obtain it. The best cryptocurrency exchanges for trading Pandorium stock at the moment are PancakeSwap (V2) and Pandora, if you're interested in finding out where to acquire it at the current price. On our website for crypto exchanges, you may find more. Pandorium’s Uniqueness Users have a right to the great majority of the revenue earned by the protocol because they are the protocol's true proprietors. Additionally, Pandora uses trade mining and profit sharing to entice both farmers and traders to play the game. A dual-token system used by Pandora operates in a rewarding and deflationary manner. Users will gain from long-term income and economic stability (secure income stream for farmers in the form of a share of the protocols revenues, accumulated rewards for traders). The protocol uses both the jackpot and the probabilistic process to add a sense of chance to its offerings in order to pique users' interest. Advantages of the Pandorium exchange Utilize Atomex to exchange XYO Network for Pandorium on-chain! You receive a pure cross-chain conversion of your funds in a peer-to-peer trustless way when you exchange XYO to PANDORIUM on Atomex DEX. You can benefit from Atomex's competitive rates, lack of DEX fees, lack of slippage or market impact costs, lack of KYC requirements, 24/7 deep liquidity, cryptographically verified security, and interesting blockchain technology. You may swap XYO Network for Pandorium directly from the Atomex App. To select the preferred platform version of the Atomex App, simply visit the download page. Present and future prices of The Pandorium network (PAN) The price of PAN started relatively high, and reached its peak in late July 2022 at a price of $0.015. Thereafter, the price has consistently fallen, to date. PAN's price dropped by 32.13% in the past month, going from its previous value of $0.006708 to $0.002155. Due to the decline, Pandorium is currently in a dip, which suggests that now would be a good time to purchase PAN. Pandorium's price has decreased by 69.05% over the last 90 days, dropping from $0.014711 to $0.010158. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, PAN does fall under this category. According to some analysts, the future price of The Pandorium network (PAN) could reach up to $0.0218 by 2025 and could see a price of more than $0.044 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. Pandorium Price Chart Sources: finance.yahoo.com, coinmarketcap.com, atomex.me, pricepredictions.com
Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

The United States Is One Of The Most Cryptocurrency-Friendly Countries In The World

InstaForex Analysis InstaForex Analysis 12.10.2022 10:41
Crypto Industry News: The United States is making strides in cryptocurrency regulation and is home to the largest number of Bitcoin and Ethereum nodes in the world. It's fair to say that the United States is one of the most cryptocurrency-friendly countries in the world. It ranks first in the number of Bitcoin and Ethereum nodes, and regulators have taken a particular interest in this topic. In September, the administration of President Joe Biden released a series of federal reports on how to regulate cryptocurrencies in the coming year. As part of these reports, the Office of Science and Technology indicated that the government is "responsible" for "protecting" communities from the negative effects of pollution and climate change caused by cryptocurrencies. President Biden's Inflation Reduction Act is the largest ever American investment in reducing greenhouse gas emissions, clean energy and resilience to climate change. It is spending about $ 370 billion in incentives, such as green energy tax breaks, to spur the development of large-scale clean energy technology and further electrify the digitization of the United States. According to one report, the use of blockchain technology in power micro-grids has the potential to promote "techno-socio-economic innovations for the restructuring of a sustainable energy supply chain", enabling the coordination of distributed energy resources. Technical Market Outlook: After the trend line breakout, the BTC/USD pair had been seen consolidating around the technical support located at the level of $18,860. The supply zone (marked as a red rectangle) is very inportant for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296467
Now The Ethereum Market Is On The Monthly Highs Trying

The Ethereum's Transition To The Proof-Of-Stake Mechanism Is Rated Negatively

InstaForex Analysis InstaForex Analysis 12.10.2022 10:47
Crypto Industry News: Ethereum's transition to the proof-of-stake mechanism has opened blockchain to criticism from crypto fans. Many believe that because of this, Ethereum has become more centralized and the risk of censorship has increased. So is Ethereum (ETH) really more centralized and prone to censorship now? Noah Buxton, head of blockchain services at Armanino, answered this question to the online media: "It seems to me, and I can see it also from our clients, that when choosing a blockchain and where we launch a project or where we will create an NFT, the most important thing is the cost of the operation and the current share of blockchain in a given market and retail sales. The decentralization of a given network is a secondary, if not forgotten factor in the decision-making process " First of all, customers want low fees for sending and transactions, as well as be sure that a given blockchain has a lot of users. Therefore, the most important thing is the service price (to be as low as possible) and the size of the market (to be as large as possible). Ethereum, on the other hand, has actually become more centralized after switching to proof-of-stake. Blockchain now relies on validators, not miners, to add new transactions to the network. Validators decide which transactions go to each block and in what order. Electricity consumption has dropped by 99.99% after switching to staking, but hardly anyone realizes that much of the ETH that secures the grid is now in centralized entities. Technical Market Outlook: The ETH/USD pair has been seen bouncing again from the demand zone located between the levels of $1,281 - $1,255 after the level of $1,267 was hit. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305 and $1,326 (30 MA). The weak and negative momentum supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-10-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296471
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

DeFi: A Huge BNB Chain Exploit, Mango Attacked, MakerDAO To Invest In Bonds

Crypto.com Accelerate the... Crypto.com Accelerate the... 12.10.2022 10:56
BNB Chain temporarily halts post- $566 million exploit. Solana-based DeFi protocol Mango hacked for over $100 million. MakerDAO passes plan to invest $500 million in U.S. government bonds. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -5.15%, -15.19%, and -46.28%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens     News Highlight BNB Chain suffered a US$566 million exploit last Thursday. A hacker tricked the BSC Token Hub, a cross-chain bridge protocol, into sending two million BNB. BNB Chain halted the network temporarily in response to the attack. However, the attacker still managed to drain around $110 million of crypto using a novel approach, syphoning the funds across other networks. Under half of the stolen funds were deposited to a lending protocol on BNB Chain and borrowed centralised stablecoins, including USDT, USDC, and BUSD. The suspension of the BNB Chain network also led to the argument on its decentralisation. Mango, a decentralised spot margin, perpetual futures, borrowing, and lending protocol on Solana was exploited for over $100 million. According to the report, the attacker managed to inflate the value of the protocol’s governance token MNGO, take out large loans against it, and drain Mango’s liquidity pools. MakerDAO, the lending protocol behind the DAI stablecoin, announced a plan to invest $500 million in short-term U.S. treasury bonds and investment-grade corporate bonds. The plan has been approved by the community, and will see $400 million of the organisation’s asset reserves put towards U.S. treasury bonds, and $100 million invested in corporate bonds. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer-2 Projects The overall L2 market saw negative growth last week, as its TVL dropped by -2.33%. Optimistic rollups and zero-knowledge rollups projects fell by -1.80% and -1.06%, respectively. Ethereum’s TVL change was negative at -2.86%. The TVL changes for all optimistic rollup projects were negative except Metis Andromeda (+4.45%). Optimism fell the most by -2.87%. ZK rollup projects’ TVL movement was all negative except dYdX (+1.46%). Loopring plummeted the most at -6.01%. Further Reading Asset management giant GoldenTree discloses $5.2M investment in SushiSwap Terra: Luna Foundation Guard shares update on distribution of remaining assets Transit Swap DeFi hacker bags $690,000 bounty after returning $2.75M Bitcoin mining difficulty sees sharpest increase since May 2021 despite slow price gains ParaSwap “investigating” possible private key hack Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (12/10/2022) (crypto.com)
Age Is The Dominant Factor In Cryptocurrency Investing

Binance Academy: Ethereum Merge - Important Facts, Pros And Cons

Binance Academy Binance Academy 12.10.2022 14:42
TL;DR Ethereum’s Merge is part of a transition Ethereum from a Proof of Work blockchain to a Proof of Stake. In general, Proof of Stake offers numerous benefits to scalability and sustainability.  As Ethereum moves to its new sharded structure, the original mainnet’s state will be transferred. This means that ETH holders won’t need to do anything with their coins and should be wary of scammers telling them they need to “transfer” their tokens.    Introduction Ethereum’s long-anticipated move to a Proof of Stake consensus mechanism has, for many HODLers, raised an important question: What do I need to do with my ETH? The question is a good one, as the safety of your funds can be at risk if you don’t fully understand the situation. First, let’s look at the reasons behind Ethereum’s move to Proof of Stake (PoS). Read more on Binance.com  What is Ethereum’s move to Proof of Stake? Since Ethereum’s (ETH) creation, it’s used the same system as Bitcoin (BTC) to generate consensus on new blocks of transactions: Proof of Work (PoW). This consensus mechanism allows miners to reach an agreement without a central authority, even in the face of malicious actors working against them.  Proof of Work, as implemented by Satoshi Nakamoto in the Bitcoin network, created an effective, reliable method for achieving consensus on decentralized networks. To this day, the Bitcoin network still hasn’t been successfully attacked. However, PoW has fallen out of favor with some developers and users. It is often seen as: Energy inefficient. PoW disincentivizes bad actors making large-scale attacks by making it costly in terms of energy. While this is one way of securing the network, staking is now seen as a more sustainable alternative. Inefficient for smart contracts. Using smart contracts can require a large number of network interactions. These have to be added to a block and confirmed to the network. PoW often experiences longer block times and higher transaction fees, making interacting with smart contracts often slower and more expensive. Difficult to independently mine. Becoming a miner on a popular PoW system can be challenging for an individual as the mining landscape is often dominated by a few large mining pools. This may lead to a centralization of mining power, making it hard for individual miners or smaller pools to compete. Difficult to scale. As the network becomes more popular, the number of pending transactions increases. PoW networks will have a limited block size that can only include so many transactions. Periods of high traffic can leave users waiting for hours and even days for their transaction to be added to a block and processed. With Ethereum 2.0, the network will move to PoS and remove the need for mining coins. The goal is to improve Ethereum’s scalability, as well as create additional benefits for users.   Why Proof of Stake? Proof of Stake has proven to be the most popular choice for new blockchain networks. It has several discernible advantages and leads the way in accessibility and scalability. Its drawbacks, while there are a few, are in most eyes minimal compared to the benefits gained.     Benefits Drawbacks An average PoS network user can take part in the validation process with just the network’s native token. Power can still be centralized around large token holders.  Less energy intensive.  Damages a profitable mining industry. Quicker transaction times and finalization. To some critics, PoS is less secure than using cryptographic puzzles to generate consensus.   The road to PoS Ethereum  Moving to PoS can’t be done in one go. Over a few years, Ethereum began a transition to move to its new sharded structure successfully. The journey can be split into a series of phases. Note that the Phase structure is no longer officially used by Ethereum, but is often referred to in this way by other media outlets. The Beacon Chain launch (Phase 0) Phase 0 will see the launch of Ethereum’s Beacon Chain, a PoS blockchain that will manage all Ethereum shards. More specifically, it will organize validators and the staking process, create validator committees, manage consensus generation, and run other key operations. Introduction of sharding (Phase 1) Phase 1 will take the single Ethereum blockchain and split it into 64 sharded blockchains. These blockchains will then be managed by the Beacon Chain launched in Phase 0. However, over time, Ethereum has instead concentrated on the Merge, which now will happen before sharding implementation. The Merge (Phase 1.5) Phase 1.5, also known as The Merge, will bridge the state of the Ethereum mainnet to the new Proof of Stake system. Smart contracts from the old Ethereum mainnet will be available on the new Ethereum network, and the Beacon Chain will be the official organizer of block production. Phase 2 Phase 2 will let shards create new transactions and smart contracts, meaning they’re fully functional. Phase 2 is the last phase with a predefined plan, as Phase 3 will be used to iron out any issues occurring from the launch of Ethereum 2.0   What will happen to my ETH? In short, your funds will be safe, and you won’t need to do anything. The complete Ethereum state will be transferred over to Ethereum 2.0. If you’re holding BETH because you’ve locked ETH in Binance’s Ethereum 2.0 staking product, you’ll soon be able to redeem it for ETH after the Merge. Vitalik has mentioned that the unlocking will take place roughly six months after the Merge. BETH is a wrapped token pegged 1:1 with ETH, distributed to users who locked their ETH with Binance. This gave stakers a liquid, ETH-like asset to use while their funds were locked. For users who wish to, they will be able to swap their BETH back to ETH.   Expectations from users and the community For many, Ethereum’s move to PoS has been eagerly anticipated. With almost every new blockchain now using PoS, there has been immense pressure on Ethereum to catch up. The network is also free from its previous limitations with the benefits of its new consensus mechanism. As PoS is more environmentally friendly, Ethereum will also remove the stigma associated with its previous energy usage. Overall, this may help improve the image of the blockchain world in general.     Closing thoughts The key message to take away from The Merge for HODLers is that you don’t need to do anything with your ETH holdings. So, be wary of anyone telling you that you need to “transfer” or “bridge” your ETH to the new network. Aside from this important fact, Ethereum’s move to Proof of Stake looks to have various benefits for users.
The Witcher's Geralt Of Rivia Drops Into Fortnite!

Binance Academy: Metaverse - What Is It? Is There Only One?

Binance Academy Binance Academy 12.10.2022 14:50
TL;DR The metaverse is an online, immersive space that connects its users' digital and real-world lives. By incorporating technologies like augmented reality (AR), virtual reality (VR), and blockchain, the metaverse offers new digital ways to work, socialize, and relax.  Projects like Decentraland and SecondLive are already experimenting with play-to-earn games and other blockchain applications, enabling communities to gather around, work, and build toward common goals. In addition, tech giants are building their metaverses to keep up with the trend. While there can be many metaverses, they would all benefit if they could connect with each other. Blockchain technology offers a unique way to metaverse interoperability. This could potentially enable users to move cryptocurrencies, items, and other digital assets between the metaverses. Introduction The metaverse is one of the words people mention when considering the future of technology, cryptocurrencies, and the Internet. The metaverse is not fully here yet, but it's noticeable that small projects and global companies are striving to build the future of digital spaces. Read more on Binance.com What is the metaverse? The metaverse is a concept of connected, virtual universes that are explorable via 3D avatars. You can think of it as the next evolution of the Internet, with more immersive and interactive online experiences. The metaverse incorporates technologies such as augmented reality (AR), virtual reality (VR), and blockchain. While AR enables users to morph digital visual elements into the real world using a camera, VR produces computer-generated virtual environments that users explore through VR headsets. Meanwhile, blockchain technology enables properties of digital proof of ownership, digital collectibility, and transfer of value. NFT platforms like the  Binance NFT Marketplace are also contributing to the development of the gaming metaverse by providing the link between gaming projects and crypto communities. In addition, the community-driven BNB Smart Chain (BSC) hosts various metaverse projects. Also, Fortnite has developed a metaverse platform that has connected over 350 million players in its virtual world. Even though the metaverse is still under development, it will likely expand beyond gaming platforms. For example, applications in digital identity, remote working, and decentralized governance are just some potential sectors that could benefit from the metaverse. What can be done in the metaverse? The metaverse creates shared virtual spaces that combine the physical and digital. For example, businesses could start using the metaverse for hosting mixed reality meetings using VR headsets or signing contracts without being physically in the same place. Similarly, you could do groceries by interacting with virtual aisles, showcase your NFT collections to virtual buddies, and visit art exhibitions without leaving the cozy of your home. Play-to-earn games like Axie Infinity and work socialization tools like Gather.town already prove working aspects of the virtual worlds possible. They invite users to have fun, meet people, transact using digital currencies, and even earn a living. Decentraland, on the other hand, is an online, digital world that successfully mixes social elements with cryptocurrencies and NFTs, representing anything from cosmetic collectibles to virtual real estate. For example, a player can use Decentraland's native cryptocurrency, MANA, to purchase 16x16 meter land parcels that are issued as NFTs (non-fungible tokens) on the Ethereum blockchain. Finally, the metaverse enables human collectives to gather around shared interests. For example, Fortnite famously hosted Travis Scott's virtual Astronomical concert with over 12 million listeners worldwide. In contrast to a regular concert, gamers could interact with the famous rapper with their avatars and enjoy animated, 3D visuals. Is there just one metaverse? The metaverse concept suggests that there is one common and shared virtual ground that everybody shares. But, as we have seen, there can be various metaverses that are separate from each other. Therefore each metaverse has a specific function in the collective of metaverses. In the same way, as each social media platform provides specific services to its users, metaverses offer distinct virtual possibilities. Likewise to earlier examples, one metaverse could concentrate on gaming while others on meetups or concerts. Crypto metaverse projects like Axie Infinity, Decentraland, and SecondLive each have their unique approach to building metaverse. In addition to blockchain-based metaverses, big tech is moving forward with the metaverse narrative. For example, Facebook changed its name to Meta and invested billions of dollars in developing metaverse content, software, and AR and VR headsets. Likewise, big companies like Microsoft, Google, and Tencent are building metaverse and are entering the space by developing new technologies. Ideally, the various metaverses should become interoperable. Metaverse interoperability means one or more metaverses could easily interact and exchange data. Interoperable metaverses would allow users to move assets from one metaverse to another, including NFTs and cryptocurrencies. Many developers and protocols are betting on blockchain technology to connect metaverses. Firstly, it’s decentralized and transparent. And secondly, it can offer digital proof of ownership, authenticity, transfer of value, and accessibility. For example, if two play-to-earn games were interoperable and built on the same blockchain, players could switch between them, and their virtual items could be established and secured in both games. In other words, users could use their guns, skins, and other in-game items in both virtual worlds. There is also the possibility of using blockchain bridges to move cryptocurrencies and other digital assets across different blockchain networks. The future web of metaverses The metaverse is still in the early phases of its development. No one knows how it will play out, but it's undoubtedly a technology sector that attracts capital and developers' attention. As mentioned, the metaverse will probably consist of several individual metaverses. Nevertheless, technologies like blockchain and cryptocurrencies will likely play a central role in connecting multiple virtual worlds. In the long run, we may see various metaverses with different purposes becoming part of a single metaverse. Creating a web of different metaverses could also encourage further adoption. Closing thoughts The metaverse continues to grow as new projects come to the market and the existing ones develop new functionalities and services. The crypto space already has successful metaverse projects, including blockchain-native ones like Decentraland, as well as players from the traditional markets like Fortnite and Meta. With the advancement of AR, VR, blockchain, and other technologies, we will likely see exciting new virtual, borderless metaverses rising.
Total Cryptocurrency Market Cap Touched $53M Level

Total Cryptocurrency Market Cap Touched $53M Level

Kucoin Blog Kucoin Blog 12.10.2022 15:06
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Crypto Calendar: Events to Watch This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin, alongside the rest of the crypto market, has remained mostly bearish, following the pessimistic mood caused by the global macro instability. The largest cryptocurrency by market cap wicked below the $19,000 mark, risking a move toward the downside and a retest of recent lows. The overall cryptocurrency market volume in the past 24 hours came up to $53 billion - staying at exactly the same levels compared to the previous week. The overall crypto market cap remained under the $1 trillion mark, now totaling $919.83 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview As we mentioned in the previous report, Bitcoin's drop below the $20,000 mark has shown to be definitive in the short term, and that has not changed in the new month. In fact, the largest cryptocurrency by market cap is now testing the $19,000 level, with the potential of dropping below and towards the $17,600 - the low set in June 2022. BTC’s dominance has been fairly stable, now standing at 38.65%. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $19,110.28, while ETH/USDT, the second-largest cryptocurrency by market capitalization, has fallen to 1,284.47, down 3.11% in the past week.   Cryptocurrency Market Heatmap | Source: Coin360   The top performers from the previous week were TerraClassicUSD (USTC), which maintained its first spot two weeks in a row, as well as Huobi Token (HT), and Casper (CSPR). USTC has increased by 75.52%, while HT gained 28.48% in the past seven days. Finally, CSPR gained 14.72%.   On the other hand, Lido DAO (LDO), Ethereum Classic (ETC), and Chilliz (CHZ) were the worst performers of the week. LDO is down 17.13%; ETC is down 13.74% in the last seven days; CHZ is down 13.33%.   Top Altcoin Gainers and Losers Top Altcoin Gainers: TerraClassicUSD (USTC) ➠ 75.52% Huobi Token (HT) ➠ 28.48% Casper (CSPR) ➠ 14.72%   Top Altcoin Losers: Lido DAO (LDO) ➠ 17.13% Ethereum Classic (ETC) ➠ 13.74% Chilliz (CHZ) ➠ 13.33%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   KuCoin is Celebrating its 5th Anniversary KuCoin, one of the largest cryptocurrency exchanges, is celebrating its 5th anniversary, as well as many achievements it reached in the time span. The exchange managed to reach over 20 million users globally, list over 700 cryptocurrencies, as well as pass over $2 trillion in total volume.   To celebrate the 5th anniversary of KuCoin Exchange, we will be launching numerous trading and non-trading campaigns, including the My Crypto Story campaign, where people can participate and share 20,000 USDT.   Bitcoin Mining Difficulty Hits New All-Time Highs The Bitcoin mining difficulty has reached its new all-time highs despite the negative market sentiment. With the last difficulty setting in, miners now need 13.5% more hash power in order to mine one BTC.   Bitcoin Mining Difficulty Chart | Source: blockchain.com   The last time a difficulty spike this big has been seen was in May 2021, at the height othe f crypto bull market.   The current network hash rate now comes up to 257 million terra hashes per second (TH/s), according to blockchain.com. The last hash rate increase has set a year-over-year increase of 117 TH/s.   Binance Smart Chain Hack: $570 Million at Risk Over the weekend, Binance Smart Chain, a blockchain closely connected with crypto exchange Binance, was the latest victim in a bridge exploit that ultimately drained the ecosystem of $100 million in crypto.   However, the exploit could have been much worse, as the initial amount at risk was as high as $570 million.   The community, as well as the validators, sprung into action quickly, and were able to ultimately lock down the chain and prevent the majority of the newly-minted BNB from being able to leave the ecosystem.   However, this has sparked a debate regarding centralization within blockchains among the crypto community.   Crypto Adoption in Brazil Spikes The number of companies that have declared cryptocurrency holdings in Brazil has reached new record highs. According to local media reports, the number of recorded companies that hold cryptocurrencies in Brazil reached 12,053 in August of 2022.   The increase in crypto holdings came as a result of high inflation rates and the trust that cryptocurrencies will offset the potential inflation loss.   The total number of companies holding crypto in Brazil has increased by 6.1% from July’s numbers.   The Fear & Greed Index at 24, Market Sentiment Remains Low The fear and greed index has shown no intention of moving up, with the current number sitting at 24, the same value it had the previous week. The indicator still indicates “extreme fear,” caused by the up-and-coming recession that will most likely affect the world even more in the winter months.   Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 11/10/2022 - Meridian 2022 Conference ➺ 11/10/2022 - Devcon 2022 ➺ 11/10/2022 - ETHPOW LBank Listing ➺ 12/10/2022 - Kava 11 Launch ➺ 12/10/2022 - Bitcoin Amsterdam ➺ 12/10/2022 - Web3 App Summit   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has been on a slight downturn, ending only one day in the past week in slight green. The largest cryptocurrency by market cap has failed to break the falling 50-day moving average, prompting a drop toward the $19,000 level. Bitcoin is now attempting to remain above the level it fell to, with extremely strong immediate resistance levels sitting at the 21-day and 50-day moving averages.   While a push above the 21-MA sitting at $19,360 could be the spark that pushes BTC towards the $19,860 and 20,000 marks, this move is currently highly unlikely.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside just below $19,400 and at $19,860, as well as $22,850. On the other side, analysts state that traders should watch out for $18,150, as this is the only level separating Bitcoin from the $17,600 level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.   Sign up on KuCoin, and start trading today! Follow us on Twitter >>> https://twitter.com/kucoincom Join us on Telegram >>> https://t.me/Kucoin_Exchange Download KuCoin App >>> https://www.kucoin.com/download Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Bulls Lose Steam; Bitcoin Mining, KuCoin Anniversary, Binance in Highlights| KuCoin
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Altcoins: How Does BurgerCities (BURGER) Work? What Is It?

Binance Academy Binance Academy 12.10.2022 15:18
TL;DR BurgerCities is a one-stop MetaFi platform featuring a wide range of features, including its native token BURGER, a decentralized exchange (DEX), and non-fungible tokens (NFTs). Within the BurgerCities ecosystem, users can participate in daily activities, such as socializing and playing games, while exploring DeFi and NFT features.  The token BURGER can be used in liquidity provision, single-token mining, and in-game trading. Users can get BURGER by playing games in BurgerCities or purchasing it on cryptocurrency exchanges like Binance.   Introduction The Metaverse has made its mark within the crypto industry, having grown the cryptocurrency market significantly. Now, in 2022, it has become far more accessible, with more people believing it might be the future.  In light of this growth, numerous projects have considered ways to tap into the infrastructures needed to power virtual economies that function parallel to the real world. That’s where MetaFi comes in, which ultimately leads to BurgerCities’ consistent presence within the crypto world. Learn more on Binance.com What is BurgerCities?  While it sounds like a new burger chain, BurgerCities is a lot more interesting than that. Evolved from Burgerswap, a DeFi product that first came to existence on BNB Chain, it blends DeFi and NFT as part of its goal to create a uniform and standardized Web3 metaverse. In the BurgerCities world, users can participate in daily activities, such as socializing and playing games, in order to enjoy various DeFi and NFT features with their own online avatars. With this new ecosystem, BurgerCities is set to further drive dynamic metaverse development, bringing new vitality to Web3. The BurgerCities Ecosystem The BurgerCities Ecosystem is made up of various features such as:    The BURGER token: BurgerCities is powered by its native token, BURGER. It has a total supply of 63,000,000 tokens, which can be used in liquidity provision, single-token mining, and trading in-game items like Hero NFTs.    The Aggregator (Black Market): BurgerCities integrates an aggregation protocol that sources liquidity from various DEXs and CEXs, and is able to reroute users’ trades to ensure they’re getting the best price.   The Pool (Energy Plant): Users can earn benefits by providing liquidity in the Energy Plant. They can withdraw their rewards at any time.   The Bank (Central Bank): The Central Bank is BurgerCities’ single-coin dual-mining revenue aggregator, which can maximize users’ single-coin mining returns. Meanwhile, BurgerCities distributes the mining proceeds to users in the form of USDT.   The Hero (Dining Room): Heroes are unique NFT assets with a variety of uses, one of which is BurgerCities’ core gameplay. Users can level them up and use them to earn BURGER by completing in-game tasks. Heroes can also be sold in the Dining Room to earn rewards.   The Land and Building: The Land and Building is part of BurgerCities’ gameplay, allowing users to construct and maintain their own towns. Users can take a break in buildings after completing tasks, or rent them to other users or projects.   How does it work? To understand how BurgerCities functions, here are some of the key terms and protocols within BurgerCities you should know to help get you started. Swapper: Users who aim for the best price when swapping tokens can go to the Black Market in BurgerCities. The Black Market has aggregation protocols in place that source liquidity from various other exchanges, ensuring the best price across numerous DEXs.  Liquidity Provider: Liquidity provision in BurgerCities can be extremely profitable for investors. BurgerCities incentivizes liquidity providers using token rewards.  Staker: BurgerCities allows its users to earn yield by staking tokens in the Central Bank, which matches all staking assets with high-yield pools. In doing so, the rewards of single-token stacking are maximized, meaning that the more assets users have in the vault, the more rewards they will receive.  Gamer: BurgerCities merges gameplay and earning, essentially allowing users to not only earn rewards through gameplay but also enjoying various gaming options, from quests to land management.  Central NFT — Heroes: Heroes is one of BurgerCities’ unique NFT assets and a central part its gameplay. While gamers do not need Heroes to swap, stake, or provide liquidity in BurgerCities, they can use these assets to participate in quests, fight in PvP battles, and engage in professions.  Business Simulation: Gamers are given a metaverse scenario where they can build their businesses through in-game decision-making. In comparison to traditional economic simulation games, BurgerCities allows gamers to rent, upgrade, and trade NFT assets, all while providing them with the opportunity to receive rewards outside the game.  Tactical Combat: As outwitting opponents on a tactical level is a key component of battle outcomes, gamers must outsmart opponents by summoning strong Heroes and using combat tactics.. PvP and PvE: There are a variety of PvP and PvE gameplay options available in a battle when the BurgerCities’ PvP and PvE games begin.  Land Management: In addition to selling digital assets like NFTs , gamers can also earn money from owning and selling land within BurgerCities for various reasons. One such reason is advertising, as projects may be interested in placing advertisements on the properties on such land.   What is the BURGER token? The most important aspect of BurgerCities is its native token, BURGER, which is native to the BNB Chain. There is a total of 63,000,000 BURGER tokens. As a BEP-20 token standard, BURGER is incredibly useful in the BurgerSwap ecosystem, as it gives its holders voting rights on updates and proposals to the protocol. It can also be used for liquidity rewards, single-token mining, and in-game trading. Additionally, it is used to reward users for completing in-game activities. At the same time, the total BURGER supply is distributed across different utilities, with 50% allocated to incentives, 10% to the project’s team, 10% to strategic financing, 10% to project operation and liquidity management, and 20% to ecology development and future growth. How to Buy BURGER on Binance The biggest question on your mind right now is probably how you can purchase BURGER and become a part of BurgerCities. You can purchase BURGER right here on Binance in two ways:  You can use credit / debit cards with selected fiat currencies. First, head to Binance’s Buy Crypto with Debit/Credit Card page, then select the currency of your choice and choose BURGER in the bottom field. Finally, click [Continue] to confirm your purchase. You can also trade other cryptocurrencies, such as USDT, BUSD, BNB, and ETH, for BURGER. First, head to the Trading View on Binance, then type BURGER in the trading pair search field that displays all available trading pairs. For more information on the TradingView, read our How to Use TradingView on the Binance Website guide.     What’s next for BurgerCities The future of the Metaverse and by extension, BurgerCities, undoubtedly looks bright. A new version of BurgerCities will soon be released, providing users with new gameplay functions. Additionally, the Metaverse’s land and house landscape will be completely refined.    Closing thoughts As MetaFi continues to grow, BurgerCities will focus an innovative lens on MetaFi with its combination of earning and gaming. With BurgerCities, players will be able to game while accessing the crypto world in a new and exciting way.
Bitcoin Is Showing A Good Sign For The Further Rise

According To The Glassnode Report, Bitcoin "Remained Remarkably Stable"

InstaForex Analysis InstaForex Analysis 13.10.2022 10:06
Crypto Industry News: Glassnode, in its weekly on-chain analysis report on October 10, states that bitcoin has "remained remarkably stable" in recent weeks compared to traditional asset markets such as forex and stocks. As it added, in the context of interest rate hikes by central banks, rampant inflation and a strong US dollar, bitcoin has unusually low volatility. The bottom of a bear market is usually a time of slow and steady accumulation by institutions, seasoned investors, and whales. The report compared two charts: one for the bear market between September 2018 and April 2019, and the downturn period that began in April 2022. Both charts were incredibly similar - each with a clear capitulation. Glassnode also sees a spike in whales' activity paying out BTC from exchanges, which is also a signal of accumulation as cryptocurrencies are held by large investors outside of trading platforms rather than being prepared for sale. Whale BTC withdrawals from exchanges reached the level of 15.7 thousand. BTC, the largest since June 2022. A whale is defined as an entity that owns over a thousand bitcoins. Glassnode also used an indicator called the Accumulation Trend Score to determine the "aggregate intensity of balance changes" of active traders over the past 30 days. The measure "indicates that there has been significant accumulation by large entities". This is another similarity to 2019. Technical Market Outlook: The BTC/USD pair had been seen consolidating around the technical support located at the level of $18,860 however it might be violated soon. The supply zone (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above the levels of $20,221 - $20,580 would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The market conditions on the H4 time frame are weak and negative, so a local pull-back towards the short-term trend line support (marked in blue) might happen soon. The nearest technical support is seen at $18,944 and $18,856. The swing low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296660
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

JP Morgan And Visa Partnership | The Ethereum Market Unchanged

InstaForex Analysis InstaForex Analysis 13.10.2022 10:10
Crypto Industry News: Two giants in the traditional world of finance and payments, JPMorgan and Visa, have announced a new partnership that will focus on improving cross-border payments by leveraging their private Liink and B2B Connect blockchain networks. Liink is a network created by JPMorgan that has been designed specifically for cross-border transfers. It is offered as part of the Onyx bank's blockchain and payments initiative, which provides institutions with a platform to validate transactions and share financial information. B2B Connect was created by Visa to serve as a cross-border payment product for financial institutions and corporate clients. B2B Connect is also integrated with Onyx's Confirm, which is an account information verification product that verifies that the information provided by users is correct and valid. According to Onyx, Confirm is able to verify over 2 billion bank accounts from 3,500 financial institutions. The main goal of the platform is to help reduce unsuccessful payments that are costing the global economy $ 188 billion a year. It is estimated that 66% of failed payments are the result of incorrect account information. B2B Connect has integrated with Confirm to assist with the account verification process. This company was launched in a pilot mode by JPMorgan in 2021. The company recently registered Deutsche Bank as a product founder member in Europe, Middle East and Africa (EMEA). Technical Market Outlook: The ETH/USD pair has been seen bouncing again from the demand zone located between the levels of $1,281 - $1,255, however this bounce was terminated just under the 30 periods moving average. The larger time frame target for bears is seen at the level of $1,100, $1,000 and $990, which means the low from 22th September located at $1,220 should be broken as the down trend will continue. The intraday technical resistance is seen at $1,305 and $1,326 (30 MA). The weak and negative momentum supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296662
Unveiling the Hidden Giant: The Growing Dominance of Non-Bank Financial Institutions

Binance Academy: Web1, Web2 And Web3 - Features, Drawbacks And More

Binance Academy Binance Academy 13.10.2022 13:06
TL;DR While the current version of the Internet, Web2, is used by millions, it is not without its flaws. Issues regarding data ownership, censorship, and security continue to plague the Internet, spurring the conceptualization of a new and improved version called Web3. This future Internet seeks to include technologies like blockchain, artificial intelligence (AI), and augmented reality (AR). At its core, an ideal Web3 should offer benefits such as data ownership and confidentiality. Web3 is touted to be an improved version of Web2 but what exactly is it, and is it better? Introduction The World Wide Web, also known simply as the Internet or the web, has changed drastically since it was first introduced to the world as Web1. As technologies improve and user demands evolve, it’s no surprise that the web has transformed accordingly.  Web1 allowed for content consumption and simple interaction. Web2, partially shaped by the explosion of smartphones and mobile internet access, enabled users to consume and create their own content. Now, a new concept of a future web known as Web3 has emerged. This latest iteration of the Internet is expected to allow users to not only consume and create content and data but also own it.  Learn more on Binance.com A brief history of the Web While the web has seen numerous changes over the years, its two major phases can be classified as Web1 and Web2. Web1 Web1, also known as Web 1.0, is the original Internet. It was made up of pages of static HTML – the web’s formatting language at the time – that displayed information online. Web1 ran on a fully decentralized infrastructure – anyone could host a server, build applications, and publish information on the Internet without gatekeepers censoring them. Users of Web1 could search for information on the net via web browsers.  Drawbacks of Web1 Unfortunately, there was no way for people to change information and there were few opportunities for interaction with others. Users could only communicate via simple chat messengers and forums. As such, users interacted with Web1 mainly as observers, not participants. Web2 Unlike Web1, the current iteration of the Internet is centralized, focused on content creation, and largely monopolized by big, successful tech companies. In the late 1990s, databases, server-side processing, forms, and social media collectively formed a more interactive Internet known as Web2, or Web2.0. This is the current version of the Internet, which is a playground for content creation. Whether you’re an aspiring writer, photographer, or influencer, you can easily create and showcase your work to the Web2 world.  Service providers such as WordPress and Tumblr offer people a platform to create content, while social media companies like Facebook and Twitter allow people to connect and communicate with anyone anywhere in the world. Additionally, mobile internet access and the popularization of smartphones enable anyone to consume content easily. Web2-centric companies have reaped the benefits of this Internet revolution. Other than profits, companies have also built a large database of users. Bigger companies like Google and Facebook have bought over smaller ones, accumulating a central global network of users and their data. Drawbacks of Web2 Since the advent of Web2, big Internet companies have realized they can utlize user data to keep them in their respective ecosystems. By producing targeted ads for consumers or preventing communication among different platforms, users are often inclined to continue using their services.  In recent years, ethical issues like censorship, data tracking, and data ownership have gained the attention of many Internet users. Ironically, user data seems to belong to companies in Web2 rather than the users themselves. We’ve seen cases of unfair data control, whereby users had their accounts closed after unknowingly violating platform-internal community guidelines. In the 2010s, news of Facebook’s failure to protect its users’ data set off global outrage over personal data collected without users’ consent.  To address these problems, some have put forth a solution combining the benefits of Web1 and Web2: decentralization and user participation. While it’s not concrete, the core concepts of this version of the Internet, known as Web3, have largely been defined. What is Web3? If we look at the current problems of Web2, Web3 is the next logical step to improving the Internet for users. By leveraging peer-to-peer (P2P) technologies like blockchain, virtual reality (VR), the Internet of Things (IoT), and open-source software, Web3 aims to dilute the power held by huge Web2 companies. With decentralization, users can hopefully take back control of their content and ownership of their data.  Key features of Web3 Decentralized: As it is meant to tackle the root of the Web2 problem, i.e., centralization, decentralization is naturally a critical factor to Web3’s success. Besides returning data control to users, companies would have to pay to access their data. Decentralization would make native crypto payments accessible to anyone, and eliminate the need for the expensive intermediaries in the traditional Web2 payment infrastructure. Permissionless: Instead of a few large entities controlling participation or prohibiting inter-platform communication, anyone can freely interact with others in Web3. Trustless: The network Web3 is based on would allow users to participate without trusting anything but the network itself.  These ideals will be supported largely by blockchain and crypto. Potential benefits of Web3 Increased data security Data held by tech giants in centralized databases are vulnerable, as hackers would need to access only one system to compromise user data. With decentralized solutions to store and manage data, private information can be more securely held. True data ownership With one of the focuses of Web3 being data ownership, users will be able to regain control of their data and even monetize it if they wish to do so. Control over the truth Without a central power, users will not be subjected to unfair censorship. Without the power of censorship or the ability to erase specific content, it will be significantly harder for large companies to control the narrative of any discourse. There are other potential benefits that make Web3 superior to its predecessors. Financial freedom Web3 will empower users by allowing them to consume, create, and own their content and data. And because Web3 is based on blockchain technology, users will be able to easily access ecosystems facilitating decentralized finance (DeFi) and other tools to achieve financial freedom.  Enhanced social interactions Like its predecessors, Web3 will continue to incorporate technologies that emerge after blockchain technology. For instance, virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) could add digital elements to Web3 applications to enhance online social interactions. Already, we’re seeing one such example in the form of the metaverse, a virtual 3D universe users can explore using avatars. Through immersive spaces like the metaverse, users can socialize online, buy virtual land, play games, and even work remotely.   Closing thoughts Web2 versus Web3 can be thought of as a variation of the age-old centralized versus decentralized debate. Because Web3 has yet to materialize, its purported superiority to Web2 is up for debate. However, with its decentralized infrastructure, Web3 could potentially tackle the data-related scandals we’ve seen with Web2, and return control to users.
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Altcoins: BENQI (QI) - What Is It? How Does It Work? | Binance Academy

Binance Academy Binance Academy 13.10.2022 13:59
TL;DR BENQI provides users with an Avalanche-based network that’s scalable, accessible, and decentralized. The BENQI ecosystem has established two main protocols – BENQI Liquid Staking and BENQI Liquidity Market. BENQI Liquid Staking (BLS) is a liquid staking solution that tokenizes staked AVAX to allow users to utilize the yield-bearing asset within DeFi applications. BENQI Liquidity Market (BLM) enables users to lend, borrow, and earn interest on their crypto assets effortlessly. Depositors providing liquidity to the protocol earn yield, while borrowers can borrow in an over-collateralized manner. Introduction Decentralized finance (DeFi) has grown significantly over the past few years. This important crypto sector provides users transparent, accessible, and permissionless platforms for accessing financial tools. Whether you’re using BNB Chain, Ethereum, Avalanche, or another network, a wealth of financial services is available with just a few clicks. With a focus on approachability, ease of use, and low fees, BENQI aims to democratize access to two fundamental financial products: liquid staking, an innovative financial product for unlocking the value of staked coins, and lending & borrowing. Learn more on Binance.com What is BENQI? BENQI is a Decentralized Finance (DeFi) protocol built on the Avalanche network. The BENQI protocol consists of BENQI Liquid Staking and BENQI Liquidity Market. BENQI Liquid Staking (BLS) is a liquid staking solution on Avalanche where users can utilize locked capital staked with Avalanche validators. This feature provides additional utility to their yield-bearing asset without lock-up periods or tedious cross-chain transfers. BENQI Liquidity Market (BLM) is BENQI’s lending and borrowing protocol. Users can lend and borrow crypto-assets listed in a permissionless manner via smart contracts with no human intermediaries involved. Users earn yield for depositing assets into the market, and borrowing is done in an overcollateralized manner. How does BENQI work? BENQI Liquid Staking (BLS) Users stake AVAX on BLS and receive a yield-bearing asset, sAVAX, that earns yield accrued from Avalanche validator rewards. sAVAX can be freely transferred, traded, or used within DeFi applications such as automated market makers (AMMs), lending & borrowing protocols, and yield aggregators. Through BLS, users stake AVAX on the EVM-compatible Avalanche C-Chain without needing to stake on the Avalanche P-Chain. This mechanism allows users to earn validating rewards from the P-Chain without running a full node, locking up AVAX on a validator node, or meeting the minimum staking threshold. Users can redeem the AVAX asset at any time with no fees through a 2-week unstaking cooldown period or instantly swap it via AMMs with an exchange fee. BENQI Liquidity Market (BLM) BLM is BENQI’s lending and borrowing protocol deployed on the Avalanche network. It enables users to effortlessly lend, borrow, and earn interest with their crypto assets. Unlike traditional lending and borrowing markets, BLM operates entirely via smart contracts with no human intermediaries. Through smart contracts, yield is calculated algorithmically based on lenders' supply against borrowers' demand on BLM. Depositors providing liquidity to the protocol earn yield based on the algorithm, and borrowers can borrow in an over-collateralized manner.  Third parties that liquidate borrowers’ assets earn a reward fee. These liquidations are based on parameters set within these smart contracts and the price feed of assets supplied to them. BLM sources these price feeds from a decentralized oracle network, Chainlink, that provides reliable and secure price data. What makes BENQI unique? BENQI prioritizes approachability, ease of use, and low fees. By deploying on the Avalanche network, users can enjoy the benefits of a highly scalable platform that is both decentralized and low in fees. The founding BENQI team works extensively with both the Avalanche and DeFi community to continuously review and improve the BENQI unique suite of protocols that includes: BENQI Liquid Staking (BLS) 1. A seamless staking experience - BLS offers users a seamless solution to stake AVAX. By staking with BLS, users bypass the tedious process of running an Avalanche validator or having to meet the minimum requirement for staking on the Avalanche P-Chain. 2. High levels of liquidity and integration - Users that stake AVAX with BLS receive a yield-bearing token, sAVAX, deeply integrated across major DeFi applications on Avalanche. 3. Utility - The veQI token provides the QI token utility. By staking QI for veQI, Avalanche validators can directly stake AVAX delegations from BLS to their validator of choice to earn additional delegation rewards. BENQI Liquidity Market (BLM) Universal access - Assets listed on BLM include most blue-chip assets, like wBTC, wETH, AVAX, sAVAX, and a variety of widely adopted stablecoins, including BUSD. Through BLM, users can easily earn a yield on their assets while borrowing in an over-collateralized manner. Deep liquidity and connectivity - BLM provides users with deep liquidity for borrowing. Users can easily borrow and transfer assets to top centralized exchanges or bridge borrowed assets to major Layer 1 networks, including BNB Chain, Ethereum, Polygon, Arbitrum, and more. The QI token QI is the native token for BENQI with two main functions: governance and utility. QI is BENQI’s governance token that oversees the improvements and changes of the BENQI protocol. QI is required to decide and vote on proposals set out by the BENQI DAO, steering the direction of the protocol. Key parameters proposed and voted on include economic proposals, security upgrades, and additional development of the BENQI protocol. Users can stake QI on BENQI Liquid Staking (BLS) to receive veQI, a novel utility token that enables additional AVAX staking delegations to high-performing Avalanche validators. Vote-escrowed QI, veQI, represents a user’s voting power for additional AVAX delegations from BLS.  Through veQI, users can vote for specific Avalanche validators to receive additional AVAX staking delegations from BLS’s pool of AVAX liquidity. The amount of delegations is based on the validator’s aggregate vote count of veQI. A total of 30% of delegations from BLS is open to veQI holders. To be eligible, validators must first meet the validator minimum criteria. Closing thoughts BENQI opens up a wealth of options for existing users of DeFi or users curious to try DeFi without the additional friction it previously brought. With a focus on usability and a protocol with deep integrations within other DeFi platforms, all users need is a web3 wallet, an internet connection, and some funds.
US 20-City house prices decreased by 1.3% month-on-month

Metaverse Real Estate - What Is It? | Binance Academy

Binance Academy Binance Academy 13.10.2022 15:01
TL;DR A piece of metaverse real estate is an NFT that provides the holder with digital proof of ownership over land on a metaverse platform. The land can, in most cases, be built upon to create experiences that lend themselves to advertising, socializing, marketing, entertainment, and more. The value of each plot of land depends on these factors, as well as overall market sentiment, collectibility, and platform popularity. Introduction The concept of the metaverse and digital real estate go hand in hand. But like many crypto trends, media coverage hasn't provided sufficient clarity. Just as it is with any other investment, it’s crucial to grasp the idea of metaverse real estate before purchasing any digital land. Compared to purely artistic non-fungible tokens (NFTs), metaverse real estate is simpler to comprehend due to its plain-to-see utility and use cases. Learn more on Binance.com How does real estate exist in the metaverse? For newcomers to the metaverse, digital real estate can sound like an oxymoron. The idea of physical property and real estate are firmly intertwined. However, while blockchain-based real estate in the metaverse may not be physical, it offers the same — or perhaps even stronger — ownership rights over a plot of (digital) land. Land ownership in a game, community, or other platform is represented by an (NFT). As NFTs are non-fungible (i.e., each one is unique) and can securely prove digital ownership, they act much like property deeds in digital real estate. An NFT can be traded, bought, and sold according to its market value, which is derived from a range of factors.Your metaverse real estate might be in a popular area with lots of digital foot traffic, making it suitable as advertising space. Staking benefits and other utilities also boost the value of the land. The specific metaverse platform you're on will determine the value of your land. Some metaverse platforms allow you a considerable degree of personalization, so you can build and plan your own space, events, and experiences. Examples include The Snoopverse on The Sandbox and Netflix's content on Decentraland. The appeal of metaverse real estate To understand the appeal of metaverse real estate, it's worth taking a step back and looking at the appeal of NFTs as a whole. On a technological level, NFTs provide legitimate digital proof of ownership. This is valuable in a world where it’s all too easy to copy files without any discernable difference. Next, we need to look at the collectibility aspect. Humans have always been passionate about collecting items for a variety of reasons. Apart from enjoyment and collectibility, an NFT may provide tangible benefits such as increased utility on a game or platform. Another appeal of NFTs is their investment potential, which is why many people hold them speculatively. During strong markets, NFT prices have generally followed rising market prices. NFT bull runs have, in some respects, also been a result of celebrity and media hype over the technology. Many people purchase metaverse real estate NFTs because they follow all the abovementioned principles. JPMorgan, for example, has purchased land in Decentraland for its:  1. Utility: They can host virtual guests on their Sandbox property and create an immersive experience. 2. Collectibility: Metaverse real estate is a highly collectible piece of pop culture that can aid marketing efforts. 3. Speculative properties: It's unlikely that JPMorgan would have bought land without expecting to either sell it for profit or increase its revenue via customer acquisition. What can you do with metaverse real estate? Virtual real estate is limited only by the confines of the metaverse. This gives it vast potential in our social and professional lives. Beyond investment and trading, this potential will drive long-term technology adoption. Anything the metaverse can cover can also be experienced through metaverse real estate. The exact use cases and intricacies will depend on your platform but, in theory, the sky's the limit. Individual users, creatives, and brands can all design their own experiences based on what their specific real estate offers. Concerts, meetings, trade shows, art exhibitions, and brand launches have all taken place on plots of digital land. This makes metaverse real estate an incredibly important tool in socializing and marketing. Large brands currently experimenting with the format include: 1. HSBC: Purchased a piece of land in The Sandbox in the first quarter of 2022 with a plan to create new brand experiences. 2. Samsung: Created a virtual experience called Samsung 837X in Decentraland and hosted events such as the #RecycleUp Fashion Show. 3. The South China Morning Post: Developed a digital version of the Hong Kong Star Ferry Pier in The Sandbox. The growth of metaverse real estate A rapidly growing following and rising sales of metaverse real estate have caught the attention of the media, public, and investors worldwide. According to data from Influencer Marketing Hub, "the average price of a parcel in major metaverse platforms has increased from $1,265 to $12,684", demonstrating a tenfold increase from January 2021 to February 2022. McKinsey reports that "more than $120 billion has flowed into the metaverse space already in 2022 — more than double the $57 billion of 2021". For such a young industry, the numbers can be staggering. However, rapid growth in market capitalization isn't necessarily correlated with longevity or a healthy market. We'll likely have to wait beyond this hyper-growth phase to realize the actual value of metaverse land. Nevertheless, some early investors have already benefited from the metaverse's growth. For example, a plot of land neighboring Snoop Dogg's property sold for almost half a million dollars. What affects the price of NFT virtual land? We’ve briefly described the appeal of NFT virtual land, but let's dive further into the three key factors that determine its price: 1. Utility: Each metaverse platform, game, or universe has a defined utility for its virtual real estate. Some allow for high levels of customization, while others provide you with in-game benefits or stat boosts. If your NFT virtual land has a particularly desirable utility, it will be able to command a higher price on the open market.  2. Platform: As mentioned above, the platform your land is on will define its utility. Beyond that, a platform's brand name and reputation also influence the value of your NFT land. This is akin to Nike or Adidas being able to charge considerably more than a lesser-known brand with comparable product quality. 3. Speculation: The idea that your metaverse real estate may be more valuable in future is often enough to affect its price. If the whole market shares this sentiment and is bullish on metaverse land price, speculation becomes a significant factor in determining price. Closing thoughts The long-term adoption and uptake of metaverse real estate go beyond the hype: they rely on actual use cases and utility to succeed. Nevertheless, it's fascinating to see the journey metaverse real estate has already taken in such a short time. As the metaverse's popularity and building blocks continue to rise, so will its maturity. As such, becoming familiar with digital property is a sound idea for any potential user or investor who is interested in the future of the metaverse.
Bitcoin Is Showing The Potential For The Further Downside Rotation

FieryTrading Updates His Comment On Bitcoin Price

Fierytrading Analysis Fierytrading Analysis 13.10.2022 15:50
// 🔥 Bitcoin LESS Volatile Than Stocks: Huge Move Incoming! 🚨 by FieryTrading on TradingView.com Trend Analysis Technical Indicators Chart Patterns    Oct 11 For a couple of weeks now, BTC's volatility has been very low. Even so low that the Dow Jones is even more volatile, which has only happened 3 times before in history.The first time this has occurred was a couple of days before the final 2018 sell-off, which led to a 50% drop in BTC's price and eventually led to the final bottom of the bear market.The second time this happened was in the Summer of 2020, where it signaled the start of the most recent crypto bull-market with a 35% bull move.We're now experiencing the third time this has ever happened. The market is preparing itself for another historical move, whether it's going to be up or down remains to be seen. All I know is that the huge incoming move is favoring the bears because we're still in a bear market, just like in 2018.It's hard to say when this big price move will occur. Tomorrow's CPI report might be the catalyst where the market is waiting for.What do you think? Will we go up or down? an hour ago Comment: Update 💰Lower Your Trading Fees: https://taplink.cc/fierytrading📈Try my Premium Signals for 🚨FREE🚨: https://t.me/FT_Futures_free🔥Premium channel & 💎Contact: http://www.fierytrading.com🎯Crypto Signals & EXCLUSIVE analyses: https://t.me/FieryTradingChannel Website Source: 🔥 Bitcoin LESS Volatile Than Stocks: Huge Move Incoming! 🚨 for COINBASE:BTCUSD by FieryTrading — TradingView
The Bitcoin Price Movement Is In The Bullish Channel

JPMorgan And Visa Cooperates, Capitalisation Of The Market Down

Alex Kuptsikevich Alex Kuptsikevich 13.10.2022 08:56
The US inflation is released today Bitcoin changed little over the day, remaining near $19.1K as the external outlook turned bleak, but there was no positive change either. Ethereum is trading near $1300, but the top altcoins are mostly down, losing between 0.2% (Tron) and 5% (Cardano). By Thursday, the cryptocurrency fear and greed index was unchanged at 20 points ("extreme fear"). The total capitalisation of the crypto market fell by 0.7% to $915bn overnight. There is a lot of press attention on the US inflation data coming out today, which could determine the Fed's next move. This wait-and-see attitude leaves BTCUSD near the lower end of the trading range, from where we could see an explosion of volatility in either direction. A sharp rise from current levels would dramatically increase the chances that the cryptocurrency bottom has already been passed in June. A step down from current levels could kick-start a decline into the $12-14K area. Arcane Research warns Arcane Research has warned that the ratio of Open Interest (OI) in bitcoin and Ethereum futures and perpetual contracts to their capitalisation indicated a likely sharp increase in volatility in the crypto market. Major investment bank JPMorgan and payment processor Visa has announced the integration of blockchain solutions Liink and B2B Connect for fast international payments. Blockchain could make transactions fast and cheap and even compete with the SWIFT interbank payment system. Read next: Morgan Stanley Talks Stock Market | Fiserv - Newest Payments Company In German Market FXMAG.COM The island nation of Dominica in the Caribbean Sea has adopted Tron cryptocurrency as a legal tender in the country. Lastly, the head of the Commodity Futures Trading Commission (CFTC), Rostin Benham, expressed his belief that bitcoin and Ethereum are commodities and warned the crypto industry that regulation is inevitable.
Cryptocurrency Mining - What Is It? How To Do It?

Cryptocurrency Mining - What Is It? How To Do It?

Binance Academy Binance Academy 13.10.2022 22:35
TL;DR Bitcoin and many other blockchain networks use the Proof of Work (PoW) consensus algorithm for cryptocurrency mining. There are many possible ways to mine cryptocurrency; it can be done alone, or in conjunction with others. You can use special mining computers or even the devices already found at home, like your personal computer. While anyone can become a miner, not everyone becomes profitable from it. Before starting, mining requires studying, choosing the correct devices and programs, and some practical tinkering. Introduction Before starting cryptocurrency mining, one should start with a bit of research. It's because different protocols may require unique hardware and software. While mining attracts various people to the cryptocurrency ecosystem due to its possible high rewards, it also enables them to partake in an integral role in making decentralized blockchains possible. Cryptocurrency mining is a highly technical topic, and there is more than one way to do it. This article will cut through the noise and give a more practical idea about it. Learn more on Binance.com What is cryptocurrency mining? Blockchain networks use mining to create and validate new blocks of transactions and secure the network. In the process, the so-called miners use significant amounts of computational resources to create new units of cryptocurrencies, increasing their existing circulating supply. Bitcoin, Litecoin (LTC), and many other blockchain networks use the Proof of Work (PoW) consensus algorithm for cryptocurrency mining. PoW determines how a blockchain network reaches consensus across all the distributed participants without third-party intermediaries. In addition, it solves the double-spend problem, preventing the network participants from using the same funds more than once. PoW promotes good network participation by design. Miners compete by solving complex cryptographic puzzles with mining hardware to win the right to mine the next block. The first miner to find a valid solution and confirm their block of transactions receive rewards. Therefore, the process requires effort and is expensive, but it offers compensation for the work. PoW mining also makes a blockchain network more decentralized. A blockchain can function as a decentralized ledger because countless distributed computers (nodes) worldwide maintain it. Therefore rather than having a single database, these interconnected computers maintain a copy of the blockchain data and communicate with each other to continuously ensure the correct state of the blockchain. However, it's also possible to disrupt a blockchain with a so-called 51% attack. While very unlikely, especially for the larger blockchain networks, a single entity or organization could, in theory, take over 50% of the network's computing power. That amount of mining power would let the attacker intentionally exclude or alter the ordering of transactions, also enabling them to reverse their own transactions. Another potential issue regarding cryptocurrency mining relates to its sustainability and expenses. Cryptocurrency mining requires significant investment, not only in hardware but also in energy. As a result, many miners, especially those that mine bitcoin (BTC), consume massive amounts of electricity. In addition, if a miner doesn't have access to several mining rigs and cheap electricity, the mining will unlikely ever turn into a profit. Types of cryptocurrency mining Miners receive a block reward when they validate a block successfully. The more computing power the miners contribute to the network, the better their possibilities to validate the next block. Yet, as more miners join the game, validating blocks begin to require more computing power. Therefore mining can become too expensive for individual miners. There is not just one way to mine cryptocurrency. So let's go through the major ones individually so that you can choose the right one regardless if you plan to mine as an individual or as part of a collective. ASIC mining Application-specific integrated circuits (ASIC) are computers designed for a single purpose. Some ASIC mining rigs are entirely dedicated to mining cryptocurrency. Keep in mind that new ASIC models can quickly cause older designs to become unprofitable. Also, the so-called ASIC-resistant cryptocurrencies cannot be mined using ASIC miners. GPU mining Unlike ASICs, graphics processing units (GPUs) can serve more than one purpose. Traditionally, their task in a computer is to process graphics and output them to a screen. GPU mining offers a lower entry to cryptocurrency mining because users can do it with affordable and more available hardware like standard laptops. Even though you can still mine some altcoins with GPUs, their efficiency depends on the mining difficulty and algorithm. CPU mining A central processing unit (CPU) is the primary component that operates computers. CPU mining lets you use the idle power from your computer to mine cryptocurrency. Even bitcoin was mined at the beginning using a CPU, but nowadays, CPUs are no longer the most efficient for cryptocurrency mining due to their power constraints. Mining pools Mining pools refer to a group of miners that join forces to combine their computing power (also known as hashing power or hash rate). As their probability of finding new blocks rises, they can earn more collectively and share the rewards. Many miners join mining pools to get a more steady and predictable outcome. Solo mining Solo mining is the opposite of mining pools because it doesn't require other participants. In solo mining, a miner executes the mining process alone. However, especially with major cryptocurrencies, it's harder for miners to succeed due to the increasing competition from the enormous combined processing power of mining pools. Cloud mining In cloud mining, you outsource computational work from a cloud-mining farm. It usually consists of you paying for someone else to mine on your behalf. Therefore, it can make the mining process easier to start because it doesn't require specialized hardware to mine cryptocurrency. In addition, miners rent computing power from a company that can be located anywhere in the world, which means there are no electricity bills or storage issues either. However, this option can be risky as there is no guarantee that you will receive the rewards of your investment. Many of these services have even turned out to be scams. How to mine crypto? Mining has the potential to become a passive income source. You can follow this step-by-step overview guide to start mining on your own. However, keep in mind there are various approaches and techniques to mining. Therefore, these steps might not be effective for some mining methods, and others might require extra measures. Also, note that mining is not always an easy or profitable endeavor as it can be at the mercy of fluctuating crypto prices and changing energy costs. It requires you to configure the mining devices correctly and demands some expenditures to keep the operation running on top of the initial investment.  1. Choose your crypto Cryptocurrencies differ in their mining difficulty. The difficulty refers to the effort the network requires to mine a block. The more miners join the network, the more the competition increases, resulting in rising hashing difficulty. On the other hand, when miners leave the network, the hashing difficulty goes down, making it less difficult to mine a new block. The biggest cryptocurrencies have conditions that are incredibly challenging to satisfy, and, therefore, it's harder for individual miners to earn revenue. For this reason, bitcoin miners use powerful ASICs and mining pools to increase their chances of getting rewarded. It’s common to mine Proof of Work (PoW) cryptocurrencies other than bitcoin, such as Dogecoin and Ethereum Classic. Altcoin networks might not be as congested and offer better chances for smaller miners. Altcoins might also offer higher growth potential due to their untapped potential. In addition, miners can use less energy-consuming mining options as they don't require so much computational power. However, take into consideration that altcoin mining can be more volatile. Or, in the worst case, the protocol can get hacked or abandoned, and the tokens could become worthless. Also, it may be that you will need to renew the mining rigs and spend more money than you initially planned due to the growing popularity of specific cryptocurrencies. For example, in the beginning, miners could use just their laptops to mine bitcoin, which is not the case anymore. 2. Choose your mining equipment Cryptocurrency mining is one kind of competition. In the mining competition, miners benefit from powerful mining hardware because their probability of mining the next block grows. As mentioned, ASIC miners are designed to serve a single specific purpose, which makes them often the best option for cryptocurrency mining. Nevertheless, GPUs are also still viable in some networks, but their efficiency depends on the cryptocurrency's mining difficulty and algorithm. There are also some cryptocurrencies that require mining rigs designed especially for them. For example, Helium's crypto miner uses radio technology – the device is installed in a place with an unrestricted view in order to provide wireless network coverage. Therefore, always ensure what kind of hardware is necessary for the cryptocurrency you intend to mine. 3. Set up a crypto wallet You'll also need a crypto wallet to store the keys for the cryptocurrency you earn from the mining efforts. Once you earn something from the mining process, the mining software will move the rewards to the crypto wallet address you specify. For example, you can use the Trust Wallet to securely store your crypto and connect to thousands of projects across blockchains.  4. Configure your mining device Cryptocurrency mining requires you to download specialized mining software. The best way to access the software is from the website of the cryptocurrency you intend to mine. This way, you can make sure that you will have the right software for a specific cryptocurrency and avoid fake programs. Most mining software are free to download and use. In addition, some cryptocurrencies have multiple software to choose from, and they are often available for various operating systems. It's always good to do your own research (DYOR) before choosing the mining software to understand their differences. Another helpful part of setting up the mining device is to create a strategy to monitor electricity costs. You can start by checking the previous electricity bills and evaluating how much the mining will cost. The unfortunate fact is that the energy consumption of a mining rig might result in you spending more money on electricity than the value earned from mining. In addition, remember that the mining rigs make noise and warm up. Therefore, consider placing them in a safe location where they are adequately cooled and notifying your neighbors about the possible extra hum. 5. Consider joining a mining pool Mining pools can help you as an individual miner in terms of hardware and electricity costs. As a block reward is granted to the first successful miner, it's very unlikely that you are the one to guess the correct hash. For example, even if you would run several high-powered ASICs, you would still be just a microscopic part of the total Bitcoin hashing power. Mining pools raise a bigger pool of mining power, so the chance of discovering the next block is increased. In other words, if you combine your hashing power with a mining pool,  you could possibly earn more than doing the mining alone. Mining pools typically have a coordinator who organizes the miners so they are less likely to make mistakes. For example, coordinators should ensure that miners use different nonce values to avoid wasting hash power. Often, coordinators are also responsible for splitting the mining rewards to each pool member.. Is cryptocurrency mining worth it? Mining is one of the possibilities that people can consider when trying to produce passive income streams. It can become low-effort once the miner setup functions correctly and is connected to the network. But, of course, it won’t be completely passive as it will demand tasks like hardware maintenance, software updates, paying electricity bills, etc. However, even though mining can be passive, it's not necessarily profitable. For example, the underlying cryptocurrency's volatility can result in smaller overall rewards than the miner's electricity costs. The profitability of a mining operation depends on its size and location. For example, the largest cryptocurrency mining farms are strategically located in countries with the lowest electricity costs. In addition, some places also have volatile electricity prices that can interfere with mining. Mining probably requires some time before you start profiting from it because of the initial investment in mining hardware. So, the first mining period may go into paying back the costs. In addition, as we learned before, the hardware can get old and inefficient, which may mean additional expenses. Therefore, cryptocurrency mining might require more investment into hardware after the initial investment. Some people choose to mine cryptocurrency purely to support the decentralization and security of blockchains. Sometimes, even without any goal of profit.   Closing thoughts Mining is essential for blockchains because it helps secure the network while creating and validating new blocks of transactions. While anyone can start cryptocurrency mining, it’s essential to consider the costs and risks.  Mining also requires a certain degree of technical knowledge, especially when acquiring and setting up your mining equipment. It’s important to do your own research and understand the specifics of the cryptocurrency you want to mine. You will also need to set up a crypto wallet to receive potential mining rewards. But, remember, the crypto ecosystem changes rapidly, so keep your eye on the project developments and updates because they can change how cryptocurrency mining happens.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Mike Novogratz (Galaxy Digital) And Nigel Green Believe The Bearish Trend Of The Leading Cryptocurrency Price May Last

Alex Kuptsikevich Alex Kuptsikevich 14.10.2022 09:05
BTC/USD went up a little Bitcoin added a modest 1.2% on Thursday, but this subtle result hides the real roller coaster. Bitcoin was losing 5% intraday, coming close to $18K, but following the stock market, it not only recouped its initial losses but also showed impressive gains. At the time of writing, the price is stomping around $19.8K. This way, the bulls managed to defend the lower boundary of the trading range. Moreover, this intraday reversal pattern is often the harbinger of a global reversal in the trend. In our case, it could change from a bear market to a sideways market or a moderate rise. Talking about the start of FOMO does not make sense yet. The closest confirmation of a downtrend reversal would be a fixation above the $20K level - above the psychologically crucial round level and the 50-day moving average. In China digital yuan transactions has reached value of over 100 bilion yuan Devere Group CEO Nigel Green expects bitcoin to decline for the rest of the year amid rising inflation in the global economy. However, long-term investors can benefit by buying crypto assets "on the cheap" from panicked traders. The head of cryptocurrency investment firm Galaxy Digital, Mike Novogratz, said the bearish trend could last another two to six months. He said sellers are highly depleted, and most investors who needed fiat have already sold their assets. But to reverse the trend, a change in the Fed's monetary policy is required. Read next: The Ad-Powered Netflix's Plan | Jim Cramer Comments On The Shares| FXMAG.COM Tim Rice, CEO of analyst firm CoinMetrics, said that more companies from traditional finance have started to emerge in the cryptocurrency industry. However, big banks are still waiting for more transparent crypto industry regulation to reduce their risks. According to the People's Bank of China, the volume of transactions using the digital yuan has exceeded 100 billion yuan (about $13.9 billion) due to its full-scale deployment in China.
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Cryptocurrency Activity In The Middle East Continues To Grow

InstaForex Analysis InstaForex Analysis 14.10.2022 11:33
Crypto Industry News: Middle East's first Bitcoin ETP to be listed on NASDAQ DUBAI in UAE. Cryptocurrency activity in the Middle East continues to grow as the global integration of blockchain technology and digital assets continues to expand to every jurisdiction in the world. On Wednesday, 21 Shares, a global provider of cryptocurrency trading products (ETP), made its debut in the United Arab Emirates (UAE). The new trading product - Bitcoin ETP - is now available on the Nasdaq Dubai international financial exchange under the name -ABTC. Technical Market Outlook: The BTC/USD pair had tested the range low at the level of $18,150 and reversed aggressively back above the local trend line and towards the level of $20k. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains strong and positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,944 and $18,856. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,705 WR2 - $19,556 WR1 - $19,482 Weekly Pivot - $19,332 WS1 - $19,257 WS2 - $19,132 WS3 - $19,009 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296826
Ethereum (ETH/USD) Is More Likely To See A Pull Back

The Portuguese Plan For Taxing Cryptocurrencies | Will The Downward Movement In The Ethereum Market Extend?

InstaForex Analysis InstaForex Analysis 14.10.2022 11:42
Crypto Industry News: The Portuguese authorities recently announced plans to introduce a 28% tax on cryptocurrencies from the beginning of 2023. The published (in Portuguese) report revealed that the group of government representatives led by the minister of finance really strongly wants 2022 to be the last year in which cryptocurrencies are tax free. Everything points to the end of the Portuguese tax haven for crypto enthusiasts. Pursuant to the provisions of the proposed act, 28% of the tax is to be applied to all digital assets that have been purchased and stored for a period of less than one year. What's more, lawmakers are also pushing to tax all "free cryptocurrency transactions", i.e. primarily crypto received under airdrops - here the tax would be 10%. Conversely, all assets held for more than one year will still retain their status and will not be subject to the new tax. The drafters' plan also provides for 4% taxation of fees charged by brokers. According to the application, any profits resulting from the sale or mining of cryptocurrencies will be considered income and will be subject to the new tax. When tracing the history of such government movements, expect an exodus of cryptocurrency companies outside Portugal - especially mining companies. Already, many people are also wondering whether government interference in the current state of affairs will not be counterproductive and will cause cryptocurrency holders and companies from the industry to flee abroad. Then, not only will they not pay a penny of tax, but they will also stop spending their cryptocurrencies and support the Portuguese economy. It is worth noting that this is not the first time that some Portuguese parliamentarians want to tax digital assets. The last such attempt took place in May 2022 - the idea, however, failed the vote of confidence and was rejected. But observers say this time is different - Portugal is said to be desperate to save falling GDP and a shrinking economy, and terrified by the specter of recession, it may resort to new taxes. Technical Market Outlook: The ETH/USD pair had made a new swing low at the level of $1,191 and ten reversed aggressively back above the demand zone and the middle of the old trading range. The local high was made at the level of $1,341 (at the time of writing the article), but with the strong and positive momentum on the H4 time frame chart, the outlook remains bullish and a target for bulls is seen at $1,358 and $1,372. The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,369 WR2 - $1,346 WR1 - $1,333 Weekly Pivot - $1,322 WS1 - $1,309 WS2 - $1,299 WS3 - $1,275 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-15 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/296827
WOOFi DEX Facilitates Spot Trading Of Popular Blue-Chip Assets (BTC,ETH)

WOOFi DEX Facilitates Spot Trading Of Popular Blue-Chip Assets (BTC,ETH)

Binance Academy Binance Academy 14.10.2022 12:15
TL;DR   WOOFi is an all-in-one decentralized application (DApp) built by WOO Network. The main goal of WOOFi is to enhance users’ experience with decentralized finance (DeFi) by providing reduced slippage, competitive swap fees, and other useful features. WOOFi users can swap popular digital assets and access income-earning opportunities like staking and providing liquidity to the network. One of the platform’s main value propositions for DeFi users is deep liquidity. Introduction Since 2020, decentralized exchanges (DEXes) have experienced rapid growth. In August 2022 alone, the monthly DEX total trading volume exceeded $66 billion. To meet the ever-growing demand for low-fee on-chain trading, WOO Network launched WOOFi in October 2021 and WOOFi DEX in June 2022. Together, WOOFi and WOOFi DEX offer a suite of tools from those enabling simple swaps all the way to professional trading interfaces. Learn more on Binance.com How does WOOFi work? WOOFi’s product offerings are designed to help DeFi users access competitive prices, low fees, tight bid-ask spreads, as well as a variety of yield-generating opportunities. The platform offers three main use cases: Swapping  By paying a minimal 0.025% fee with WOOFi Swap, users can swap popular, financially-sound, blue-chip assets within or across chains supported by WOOFi. Earning Anyone can deposit digital assets to earn competitive APYs through WOOFi’s single-sided staking solution, Supercharger Vaults. Single-sided staking requires users to stake only one type of token. This model incentivizes asset holders to provide liquidity to WOOFi, in turn enabling WOOFi to offer better liquidity to traders. Staking Token holders can stake their WOO tokens on the WOOFi platform to earn revenue from WOOFi’s minimal 0.025% swap fee. WOOFi Swap Unlike other DApps, WOOFi simulates the deep liquidity from WOO Network’s centralized exchange, WOO X, meaning users can enjoy DeFi services with more affordable, CeFi-grade prices. Other advantages of using this model include reduced slippage and increased resistance to sandwich attacks. Slippage refers to the difference between the asset’s market price and its actual price upon order execution. It is more likely to get wider when market conditions are volatile or when trading with low-liquidity assets, causing traders to buy or sell their assets for more or less than expected. WOOFi DEX Launched in June 2022, WOOFi DEX is WOO Network’s decentralized exchange powered by Orderly Network. The platform was designed to bring high liquidity, advanced trading tools, a customizable user interface (UI), and a transparent order book to NEAR protocol. WOOFi DEX helps connect traders with a platform that offers faster execution and lower fees, in addition to allowing traders to maintain custody of their assets.  WOOFi DEX facilitates spot trading of popular blue-chip assets like BTC, ETH, and NEAR. In the future, the platform is expected to expand its services and implement functionalities like margin trading, perpetual swaps, lending, and even borrowing. Bootstrapped by leading market makers like Kronos Research, AGBuild, and Ledger Prime, WOOFi DEX is positioned to deliver an improved DeFi trading experience that has the look and feel of a centralized exchange.  WOOFi Supercharger vaults WOOFi enables users to deposit a single token and earn competitive yields while maintaining complete exposure to their favorite assets. Up to 90% of the assets in the Supercharger vault can be borrowed by WOOFi’s liquidity provider at a fixed rate to provide liquidity to WOOFi. The remaining assets are deployed to third-party DeFi protocols for external yield farming. By hedging on WOO Network’s centralized exchange, WOO X, and therefore remaining market-neutral, WOOFi’s liquidity providers can ensure that there are always sufficient funds for users to withdraw upon request. This dual strategy enables depositors to directly benefit from two separate sources of revenue while providing liquidity to WOOFi. Users can request to withdraw their deposited assets with no fee or limit (except when the vault is under settlement) once the 7-day settlement cycle is complete. Ten percent of each Supercharger vault’s Total Value Locked (TVL) will be set aside each week for instant withdrawals, though a 0.3% withdrawal fee will be charged to prevent abuse of this system. What makes WOOFi unique? sPMM liquidity model Instead of adopting an automated market maker (AMM) model like most other DEXes, WOOFi leverages an innovative synthetic proactive market making (sPMM) approach to achieve deeper liquidity. The sPMM model aims to simulate the deep liquidity from WOO Network’s centralized exchange, WOO X, allowing the WOOFi Swap to offer lower slippage and competitive DeFi prices while staying decentralized. Protection against sandwich attacks A sandwich attack occurs when a malicious trader places one order before and one after a pending transaction on a DeFi protocol to manipulate asset prices. An exploiter thus pushes an asset price up by placing a bid at a higher price than a victim’s pending bid price. When the victim buys at the higher price, the attacker can sell their asset at the new, artificially inflated price.  Sandwich attacks are common among large traders who swap assets with AMM-based DEXes. Since AMM price discovery is driven by the token balances in the liquidity pool, attackers can take advantage of this transparency to inflate prices. In contrast, WOOFi’s sPMM price discovery is determined by the parameters of on-chain price feeds instead of pool liquidity. Bad actors will not be able to predict prices based on token balances. The DEX that pays for order flow Currently, WOOFi has a broker program in place, where it pays 0.5 basis points (bps) on the volume sent by third-party DApps as a rebate.  What is WOO?   WOO is the native token used by WOOFi and the larger suite of WOO products. It provides staking rewards, fee discounts, and governance rights across the WOO Network ecosystem.  How to buy WOO on Binance?   You can buy WOO on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “WOO” on the search bar to see the available trading pairs. We will use WOO/BUSD as an example. 3. Go to the [Spot] box and enter the amount of WOO you want to buy. In this example, we will use a Market order. Click [Buy WOO] to confirm your order, and the purchased WOO will be credited to your Spot Wallet. Closing thoughts   The unique liquidity model that WOOFi uses was designed to mimic a traditional exchange’s order book to offer key benefits like deeper liquidity, more competitive prices, and overall a better DeFi trading experience. Those looking for reduced slippage can check out WOOFi and the larger WOO ecosystem for more information.
Bitcoin Is Showing The Potential For The Further Downside Rotation

Today Bank Of England Ends Its Gilt Purchasing. Bitcoin Hodlers Might Be Scared Yesterday

Craig Erlam Craig Erlam 14.10.2022 14:06
Stock markets are ending the week with a strong rally after a frankly ridiculous reversal on Thursday following the US inflation data. A 40-year high in the core reading initially triggered selling in futures which was swiftly followed by an unbelievable rebound that saw US indices recover more than 5% from the lows. The recovery in the Dow coincided with a test of the late September lows, while in the S&P 500 the low was roughly 20% from the summer recovery peak so there must have been a huge technical element to the move, at least initially. What followed was extraordinary and may have been exacerbated by short-covering, perhaps even some panic. While it may indicate the market has established a bottom for now, given the scale of the declines since the August peak, that doesn’t necessarily mean the worst is suddenly behind us. Not when inflation is so stubborn, the labour market so tight and the Fed so intent on more aggressive hikes. The next few weeks may simply be a question of how investors respond to earnings season which kicks off today with JP Morgan et al reporting. Needless to say, we’re going into this season with very low expectations on both the top and bottom lines and the outlook. It’s just a question of how pessimistic firms are going to be and how willing investors are to turn a blind eye. It all comes down to how low the bar is set and given the performance of US stock markets recently, I expect there won’t be much daylight below. This government is for turning I’m not sure where we’re up to on the u-turn front but one thing is clear about the new government in the UK, they are absolutely for turning. Today, it’s Chancellor Kwarteng that is swiftly u-turning on his Washington plans to return to the UK amid speculation about further changes to his tax-cutting agenda. The backlash against the mini-budget has been absolutely fierce to the point that after only five weeks in office, the Chancellor looks like a dead man walking and the Prime Minister is under immense pressure, perhaps even at risk herself. That is the scale of the atrocious handling of the situation in recent weeks and now both are scrambling to save their jobs. Meanwhile, the BoE emergency gilt buying program is scheduled to draw to a close today which may coincide nicely with certain government u-turns and hopefully bring some stability back to the markets. Of course, we should be in no doubt that if we see further turmoil, the central bank will step back in but looking at longer-dated yields this morning, there’s some hope for the Governor, who himself has come under fire this past week. It’s not been a great few weeks for brand UK has it? A fortunate rebound The bizarre risk rebound in financial markets came at just the right time for bitcoin on Thursday. While it had been slowly trending lower, the inflation report initially sent it into a spiral and it was seriously at risk of breaking the early summer lows which could have been devastating. And then the rebound came which has seen it rally back towards $20,000 where it now finds itself. A very fortunate moment for bitcoin. The question now is can markets sustain this risk rebound when the inflation report itself was anything but good news? For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Making sense of the ridiculous - MarketPulseMarketPulse
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Deepest Fears- Ten NFT About Anxiety And Fear | Axie Infinity: Raylights Is A Live Game For All Landowners

Crypto.com Accelerate the... Crypto.com Accelerate the... 14.10.2022 14:18
Key Takeaways OpenSea added Avalanche support to its online marketplace. According to OpenSea’s rankings, Avalanche’s top two NFT collections of all time are “Smol Joes” and “Smol Lands”. Doodles, a popular and colourful NFT project, announced a Miami mini golf event this winter. The event, DoodlePutt, will take place in Wynwood, Miami, between the 2nd and 3rd of December.  Axie Infinity: Raylights, a land mini game, is live for all landowners. Players can sow minerals, grow plants, and cultivate their plot. The game can be played directly on a browser with no download required. X2Y2 recorded a +43% increase in sales and a -37% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +28% and its transaction count also increased +11%. The total market cap for GameFi tokens now stands at US$7.75 billion, down -12% from last week. Crypto.com NFT in the Spotlight “Action Bears Club” is an engaging way for anyone to get involved in offsetting their carbon footprint. Revenue from the NFTs directly funds two global green projects. There are only 300 mystery packs available, with each pack containing one of seven dancing polar bears. “Deepest Fears” is a collection of ten NFTs representing ideas that torment us, materialising them, and creating captivating images designed to make something beautiful out of fear. The collection is created by Germán Benito, a seasoned graphic designer from Spain who has a fiery passion for producing remarkably unique pieces of art. NFT Highlights DeGods Solana NFT collection joins zero royalty bandwagon Damien Hirst live streams the burning of $10M in art for NFT project Barbie partners with Boss Beauties for a new NFT collection NFT infrastructure company Gomu closes $5M seed round Korean music label Modhaus to launch first K-pop girl group tripleS, formed with NFT-based fan-voted members French authorities charge 5 over theft of Bored Ape NFTs GameFi Highlights Decentraland gears up for its second annual metaverse music festival Popular move-to-earn game STEPN begins staff layoffs amid the bear market Gabriel Leydon’s Limit Break purchases $6.5M Super Bowl ad spot for DigiDaigaku NFT collection Axie Infinity player count falls back to Jan 2021 levels Catheon Gaming and Cointelegraph announce strategic blockchain gaming partnership NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $77,000 Minted VVS Miner Mole $119,000 Magic Eden Lunar NFT $3,578,000 OpenSea Bored Ape Yacht Club $3,645,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $77,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $119,000 Sample Platform Magic Eden Collection Lunar NFT Sales Volume (USD) $3,578,000 Sample Platform OpenSea Collection Bored Ape Yacht Club Sales Volume (USD) $3,645,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Decentralization And Security Are So Fundamental To Blockchain

Binance Academy Binance Academy 16.10.2022 09:26
TL;DR Blockchains can only handle a limited number of transactions per second. The Bitcoin network, for example, can process around seven transactions per second. If blockchain technology is to be adopted globally, it should be able to handle much more data, and at faster speeds, so that more people can use the network without it becoming too slow or expensive to use. However, the fundamental design of many decentralized networks means that increasing scalability tends to weaken decentralization or security. This is what’s known as the blockchain trilemma. Developers looking to solve this problem are experimenting with different consensus mechanisms and scalability solutions, such as sharding, sidechains, and state channels. Introduction In basic terms, a blockchain is a distributed digital database. Blocks of data are organized in chronological order. The blocks are linked and secured by cryptographic proofs. The implementation of this technology across different industries is already changing how we work and live.  The idea is that decentralized and secure blockchains allow for a world where we don’t need to rely on third parties for networks or markets to function. However, experts generally agree that if this tech is to be more widely adopted there’s a core problem that needs solving. The problem in question is known as the “blockchain trilemma”. This term was popularized by Ethereum co-founder Vitalik Buterin. For it to make sense, you need to be aware of three different elements that are desirable in a blockchain: decentralization, security, and scalability. The blockchain trilemma refers to the idea that it’s hard for blockchains to achieve optimal levels of all three properties simultaneously. Increasing one usually leads to a weakening of another. This article will examine all three elements in the trilemma and explain what each one is in more detail. Discussing each in more depth, and how they fit together, will result in a better understanding of how and why the blockchain trilemma exists. This article will also highlight some of the solutions that have been suggested by developers. Learn more on Binance.com What is decentralization? Bitcoin and similar blockchain networks are decentralized by design. The whole structure is such that there is no one person or organization in charge. Rather, it is decentralized. The network layer is open to anyone who wants to participate. As a result, control is fully distributed rather than held by one single entity. Everyone has access to the same data. If anyone tries to cheat the system by changing the records in their favor, then the rest of the participants will reject the faulty data. This can get quite technical, but let’s take the Bitcoin network as an example. There is no third party in control. Compare this with the need for banks in the financial system. The banks enforce trust between people transacting, and ensure all records are kept correctly. The Bitcoin blockchain, however, shares all that data with everyone on the network, so that it can be checked and confirmed, before being added to the digital database. The result is a system that can exist without the need for third parties. Decentralization offers the possibility of what is known as Web3. Right now we have Web2 — the internet of today. It’s full of sites and apps controlled by companies, but featuring content made by the users. Web3 is the next step. An internet where decentralized blockchain tech lets people control their own data and online lives.  One thing to note, however, is that because of how these distributed systems work — with a need for a wide range of participants to agree on the validity of any data — transaction times can be slow due to the way information needs to be shared and processed. And so, blockchains need to scale, which is to say be capable of handling more data at faster speeds. We’ll come back to this point when discussing scalability. Additionally, the decentralized dream only holds if the underlying blockchains are secure. If a blockchain lacks security, then a bad actor can take control and change the data in their favor. This leads to the second part of the trilemma: security. What is blockchain security? It doesn’t matter how decentralized a blockchain is if it lacks security. A good blockchain network should be resistant to attacks from malicious entities. Centralized systems derive their security from the fact that the system is closed. Whoever is in control can guarantee the data is free from interference. But how is this achieved in a decentralized system where anyone can take part? It’s a complicated topic, but we can return to Bitcoin as an example of decentralized blockchain security. The Bitcoin blockchain uses a combination of cryptography and a network consensus mechanism called Proof of Work (PoW). In terms of cryptography, each block has a kind of digital signature (or hash). Each block of data is connected in a way that can’t be tampered with because any changes would alter a block’s hash. Any attempt to change the data would be quickly identified by the rest of the network. The PoW consensus mechanism is another part of the puzzle. It helps secure the cryptocurrency’s ledger. Understanding Proof of Work is a whole article in itself, but for our purposes, note that members of the network can only verify new transactions and add them to the ledger through an activity known as mining. This involves using computational power to solve a mathematical puzzle. Part of the process requires these computers to perform numerous hashing functions. This plays into the issue of scalability, as the PoW mechanism is secure but relatively slow. Also note that the more participants (nodes) there are in the network, the more secure it is. The greater the number of parties, the harder it becomes for one bad actor to take control of the system. This relates to what is known as the 51% attack. As an overview: if a single entity (or group of bad actors) can control more than 50% of a blockchain’s total network hashing rate, then they would be able to override consensus and change the chain’s data to benefit themselves, such as double spending tokens.  In short, security is a fundamental requirement for a blockchain to be successful because, without it, attackers can take control of the chain, rendering it useless. What is scalability? Scalability refers to the goal of building a blockchain that can support more and more transactions per second. Scale is required if blockchain tech is to serve wider society and possibly billions of users. But this is where a lot of blockchains still struggle.  This is because decentralization and security are so fundamental to blockchain that they tend to be focused on first. Decentralization is so central to the ethos and goals of blockchain that it lies at the very heart of most recognized blockchains. Security, as we’ve discussed, is a core requirement for a blockchain to be successful and useful. However, by prioritizing decentralization and security, scalability becomes a challenge. The number of transactions a chain can handle can be severely limited. A centralized payment system such as Visa states that it’s able to support 24,000 transactions per second. This is because the network is closed, and free from considerations such as public nodes and consensus. Compare this with some of the best-known blockchains.  According to Bloomberg in 2022: “As of September, Bitcoin was unable to handle more than seven transactions per second and Ethereum, the second-most popular network, was limited to about 15 per second — a lifetime compared to conventional exchanges.” As mentioned, these blockchain transaction speeds are limited due to the way the information needs to be processed by the different participants that make up the decentralized network, and the nature of the PoW consensus mechanism itself. If more and more people in society begin to use blockchain technology, the networks will become jammed due to the limited number of transactions they can handle. Why the blockchain trilemma exists The most obvious and basic solution to the problem outlined above is to reduce the number of participants confirming and adding to the network data in exchange for greater scale and speed. But doing so would lead to a weakening of decentralization with control handed to a smaller number of participants. And it would also lead to a weakening of security as fewer players means a higher chance of attacks. So here lies the trilemma: given the connection between the desired properties of decentralization and security, the fundamental design of how blockchain works makes it hard to scale. Increase one, and you weaken another. How do you push scalability without damaging decentralization, security, or both?  Solving the blockchain trilemma There is no one golden solution to the trilemma. But given the importance of solving this problem, there have been a number of different approaches within the community with interesting results. Let’s run through an overview of some of the most popular developments to give you an understanding of what’s happening in the space: 1. Sharding This is a method of splitting blockchains (or other types of databases) into smaller, partitioned blockchains that manage specific data segments. This setup takes the stress off a single chain dealing with all transactions and interactions on a network. Each partitioned blockchain is known as a shard and has its specific ledger. These shards can then process their own transactions, but a beacon blockchain or main chain manages interactions between shards. This makes sharding a Layer 1 network scalability upgrade, as it’s a change to the mainnet of a blockchain. 2. Different consensus mechanism One of the reasons the trilemma exists in the Bitcoin network is because of the way PoW works to ensure security. The need for miners, crypto algorithms, and huge amounts of decentralized computing power leads to a secure system, but a slow one. Finding a different way to secure consensus is one approach to solving the trilemma. This was one of the reasons behind Ethereum's move from PoW to Proof of Stake (PoS). In PoS blockchains, participants involved in validating transactions must stake (lock) their tokens. There’s no need for highly specialized mining machines. Adding more validators to the network is simpler and more accessible. PoS is just one of many different approaches to consensus mechanisms with scalability in mind.  3. Layer-2 solutions Both sharding and different consensus mechanisms are what are known as Layer-1 solutions. They look to change the fundamental design of the underlying network. But other developers seeking to solve the trilemma have been working on solutions that build on top of an existing network structure. In other words, they think the answer lies in a second layer, or Layer 2. Examples of this include sidechains and state channels. A sidechain is basically a separate blockchain connected to the main chain. It’s set up in a way that assets can flow freely between the two. Importantly, the sidechain can operate under different rules, allowing for greater speed and scale. Similarly, state channels are another way of taking transactions off the main chain and easing pressure on Layer 1. A state channel uses a smart contract, rather than a separate chain, to enable users to interact with each other without publishing their transactions to the blockchain. The blockchain only records the start and end of the channel. Closing thoughts The scalability trilemma stands in the way of blockchain fulfilling its potential as a technology to change the world. If blockchain networks can only handle a small number of transactions per second in order to maintain decentralization and security, then it will be difficult to reach mass adoption. However, the solutions currently put forward by developers seeking to solve this problem suggest that the technological advances already made by blockchain will only continue, and these networks may well be able to handle much more data in the future.
Bitcoin Has A Sign Of The Sideways Regime

The Bitcoin Enthusiasts And Their Favorite For The Nobel Prize - Satoshi Nakamoto

InstaForex Analysis InstaForex Analysis 17.10.2022 09:38
Crypto Industry News: Bitcoin enthusiasts renewed their annual petition to award the Nobel Prize in Economic Sciences to Satoshi Nakamoto. On October 10, the Royal Swedish Academy of Sciences announced three economic award winners - former Federal Reserve chairman Ben Bernanke and US economists Douglas Diamond and Philip Dybvig - for "research into banking and financial crises." Many cryptocurrency enthusiasts have argued over the years that Nakamoto, the anonymous creator of Bitcoin, was the most deserving candidate for an economic prize, first established in 1968, "following the same principles as the Nobel Prize awarded since 1901." Some crypto enthusiasts have said earlier that Satoshi deserves more than just an economic reward. There are opinions on the internet that the creator of BTC deserved the Nobel Peace Prize for establishing "a currency that can assume the status of a global reserve without engaging in violence." It is unclear if Nakamoto would have been eligible for the award given that his identity has never been revealed to the public. It may make more sense to honor other famous early contributors to the ecosystem such as former BTC lead developer Gavin Andresen or developer and recipient of Bitcoin's first transaction, Hal Finney. However, Finney died in 2014, and according to the Nobel Foundation's statute, the Nobel Prize "cannot be awarded posthumously." Technical Market Outlook: The BTC/USD pair bounce had been rejected from the level of $19,950 after a Bearish Engulfing pattern was made at the H4 time frame. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,944 and $18,856. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297022
The Ethereum Market Is In The Pull-Back Mode Now

Tether Take Action To Eliminate Commercial Papers From Its Reserves

InstaForex Analysis InstaForex Analysis 17.10.2022 09:44
Crypto Industry News: Tether, the company responsible for issuing the largest stablecoin in terms of USDT market capitalization, announced that it has completely eliminated commercial papers from its reserves, a long-sought target in its first attempts to strengthen treasury reserves. "The communique is part of Tether's continued efforts to increase transparency, with investor protection at the heart of Tethers' reserve management," reads the Tether announcement. CTO of Tether, Paolo Ardoino, was quoted earlier this year saying the company intends to reduce its exposure to commercial papers by the end of 2022. Achieving this required the elimination of over $ 30 billion in commercial assets, which Tether said were achieved "without any loss", which the stablecoin provider says is "evidence of how Tethers reserves are conservatively and professionally managed". Technical Market Outlook: The ETH/USD pair had made a new local low at the level of $1,267 in the form of a Pin Bar and ten reversed aggressively back towards the middle of the trading range. The local high was made at the level of $1,314 (at the time of writing the article), but with the strong and positive momentum on the H4 time frame chart, the outlook remains bullish and a target for bulls is seen at $1,358 and $1,372. Please keep an eye on the market behavior close to the local trend line (market orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297024
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Tether (USDT) Gets Rid Of Commercial Paper, Polygon (MATIC) And Its Latest Public Testnet

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.10.2022 09:51
BTC becoming less volatile. Tether replaces commercial paper with U.S. Treasury bills. Polygon launches zkEVM public testnet. Chart of the Week: BTC Becoming Less Volatile BTC’s implied volatility, a widely used measure of risk gleaned from the derivatives market, has recently been falling. This is in stark contrast to the rising VIX, which measures implied volatility for the S&P 500 index (comprised of the largest U.S. equities). This could be implying less cautious sentiment for BTC compared to equities and is also potentially indicative of a typical consolidation phase given the low trading volumes as well. Crypto Fund Flow Tracker The aggregated exchange balance for BTC continues to hover around YTD lows. No significant movements were seen in OTC (over-the-counter) desks’ balance for BTC. OTC desks are typically used by larger investors. Crypto Derivatives Pulse BTC and ETH put-call ratios are at yearly lows. Implied volatilities (vols) dropped again over the past week and are at subdued levels. 1-month implied vol currently stands at 55.3% (vs. 59.3% a week ago) and 69.8% (vs. 73.0% a week ago) for BTC and ETH, respectively. BTC perpetual futures funding rates remain positive (longs pay shorts). ETH funding rates are still mainly negative (shorts pay longs). No notable movements in leveraged traders’ and asset managers’ net positions in CME Bitcoin futures over the past week.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. Crypto Price Movements     Crypto News Highlights BNY Mellon, the world’s largest custodian bank and the oldest lender in the U.S., announced it has added crypto to its custody services. The bank will now be able to provide fund manager clients with keys storage for BTC and ETH, as well as other traditional bookkeeping services. Policymakers with the European Parliament Committee on Economic and Monetary Affairs approved the Markets in Crypto-Assets (MiCA) framework. MiCA aims to create a consistent regulatory framework for crypto among the European Union member states. Polygon (MATIC) launched its zero knowledge-EVM (zkEVM) public testnet. Polygon’s zero knowledge roll-up with EVM (Ethereum Virtual Machine) technology is a type of Layer-2 scaling solution for the Ethereum (ETH) blockchain. EVM is the software that runs smart contracts on Ethereum. With zkEVM, developers won’t have to learn new programming languages and can transfer their smart contracts over from Ethereum easily. Tether, issuer of the stablecoin USDT, has reduced its commercial paper to zero, replacing them with U.S. Treasury bills, in an attempt to back its stablecoin with more secure reserves. An exploiter who says he is part of the group that drained US$114M from Solana (SOL) based decentralised crypto exchange Mango Markets, returned US$67M to the exchange. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES Source: crypto.com
Bitcoin is trying to resume its upward movement

Wow! MetaMask To Allow Customers From The US To Buy Cryptocurrencies Easier

Alex Kuptsikevich Alex Kuptsikevich 17.10.2022 09:07
Follow us on Google News Price of Bitcoin decreased, so did ETH/USD Bitcoin declined 0.8% over the past week, ending near $19,300. The start of the new week brought no significant changes in price. Aside from big market moves on Thursday and Friday, the exchange rate remains chained to the current price. Ethereum lost 0.9% to $1310. Other top altcoins in the top 10 fell in price from 1.8% (BNB) to 12.5% (Cardano). Total cryptocurrency market capitalisation, according to CoinMarketCap, sank 2% over the week to $925 billion. The cryptocurrency Fear & Greed Index was down to 20 by Monday versus 22 a week earlier and 24 a day earlier and remains in a state of "extreme fear. Despite the negative external backdrop, BTC has successfully attempted to hold its September lows against much more worrisome sentiment in the stock markets. We view the idea of cryptocurrencies as safe-haven assets as untenable and see this stability in the prices of major cryptocurrencies as a manifestation of solid internal demand for risk. DBS Bank of Singapore points advantage of the leading cryptocurrency Despite high price volatility, DBS Bank of Singapore called Bitcoin an effective tool for clearing transactions. The BTC market operates 24/7, so investors can get money and liquidity when needed. Cryptocurrency wallet MetaMask will launch a new option allowing U.S. customers to buy cryptocurrency directly from their bank accounts. China has floated the idea of a pan-Asian digital currency to reduce the dependence of the region's economies on the U.S. dollar. Tether completely removed the shares of commercial companies used to back USDT Stablecoin. Meanwhile, digital asset management company CoinShares unveiled a new experimental solution to determine the fair market value of non-transferable tokens (NFT) based on artificial intelligence.
Age Is The Dominant Factor In Cryptocurrency Investing

Age Is The Dominant Factor In Cryptocurrency Investing

InstaForex Analysis InstaForex Analysis 18.10.2022 09:39
Crypto Industry News: Bank of America found that rich young Americans are 7.5 times more likely to have cryptocurrencies in their wallets than investors 43 and older. "If the youngest cohort is unsure of the stock market, where does it see opportunities for investment growth? Alternatives, including cryptocurrencies, are their # 1 choice, "wrote the bank. Bank of America released this week's study of wealthy Americans' investment preferences. The report was prepared on the basis of an Internet survey conducted in the period from May to June, among 1,052 people over the age of 21 with assets allocated for investments worth over USD 3 million. What were the results obtained? As it turned out, "the age group 21 to 42 has only a quarter of their equity portfolio, compared with 55% for investors aged 43 and over." "While 29% of younger people say cryptocurrencies are the leading wealth-generating opportunity, only 7% of the older group agreed," he added. Bank of America stressed that age is "the dominant factor when it comes to interest in cryptocurrencies," explaining: "While the overall use of [cryptocurrencies] is low, younger people are 7.5 times more likely to hold cryptocurrencies in their wallets and five times more likely to say that they understand them quite well." Technical Market Outlook: The ETH/USD pair has been seen trading just below the last week high located at $1,344. The local high was made at the level of $1,342 (at the time of writing the article), but with the strong and positive momentum on the H4 time frame chart, the outlook remains bullish and a target for bulls is seen at $1,358 and $1,372. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 06:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297196
The Bitcoin Price Movement Is In The Bullish Channel

Mastercard Is Going To Launch A Program To Help Banks And Financial Institutions Offer Cryptocurrency-Based Products

InstaForex Analysis InstaForex Analysis 18.10.2022 09:45
Crypto Industry News: Payment giant Mastercard is taking another step towards further involvement in the crypto space with the goal of developing its core business model. According to a media report, the company will launch a program that will help banks and financial institutions offer cryptocurrency-based products. The initiative is one of many taken by the company to integrate crypto into its business model. According to the report, Mastercard will launch a pilot program in the first quarter of 2023. The initiative will be available to selected banking institutions to enable them to launch crypto trading products. In the coming years, the program will be extended to further regions and institutions. Mastercard will act as a "bridge" alongside Paxos, a trading platform that already offers similar services to companies such as PayPal. In late 2020, PayPal and Paxos announced a partnership to provide Americans with access to Bitcoin and other cryptocurrencies. Partners act as a "link" between digital assets and investors. They deal with protection, compliance and security. The Paxos and Mastercard transaction are subject to similar terms. The payment giant conducted surveys and other studies to assess sentiment around cryptocurrencies and concluded that most still want access to these assets. Respondents, as their research shows, would prefer to obtain exposure through their local bank and other financial institutions. Technical Market Outlook: The BTC/USD pair bounce had been rejected from the level of $19,950 after a Bearish Engulfing pattern was made at the H4 time frame. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,944 and $18,856. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 06:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297194
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

The Ethereum's Upward Movement Depends On Signals On BTC And S&P 500

InstaForex Analysis InstaForex Analysis 18.10.2022 11:49
Ethereum continues to fluctuate within the narrow range of $1,150–$1,400 for exactly a month. The main altcoin made attempts to go beyond the range, but low trading volumes did not allow the asset to realize impulses. Despite this, the situation is changing for the better in the short term. Ethereum managed to successfully gain a foothold above $1,300, which opens up the possibility of an upward movement to $1,500 and $1,600 for the altcoin. However, for the final resumption of growth, the asset needs to gain a foothold above $ 1,340. After the formation of the second bullish candle in a row on the daily timeframe, the asset takes a pause. The RSI index and the stochastic oscillator remain in the bullish zone, but are turning sideways. The MACD is also moving flat, which indicates the absence of strong bullish momentum. Therefore, the current increase in ETH should be considered in the short term. Ethereum on-chain activity The main on-chain indicators of Ethereum are at below average levels. However, there is a tendency to increase trading volumes and the activity of unique addresses in parallel with the upward movement of the asset price. This is a positive signal indicating the probability of the continuation of the upward trend of the cryptocurrency. Analysis of BTC, SPX, and DXY A full-fledged upward movement of Ethereum is impossible without positive signals on BTC and S&P 500. On the daily chart, we see a similar upward movement of the stock index and Bitcoin. Thanks to this, the entire crypto market took a small step upward and the market capitalization grew by 1.5%. At the same time, the US dollar index has moved to a phase of local decline, which gives the stock market and Bitcoin additional fuel for growth. Given this, high-risk assets will continue to grow as the DXY index corrects. However, the current state of the global economy and the Fed's policies lead to the conclusion that the current upward movement in assets is short-term. Crypto Market and ETH News After the Merge update, Ethereum lost about 20% of its market capitalization, which led to the leveling of some of the new features of the altcoin. For example, ETH stopped being deflationary after a massive drop in trading activity on the cryptocurrency network. Ethereum also has problems with censorship, as about 50% of validators can block transactions in accordance with US sanctions. The volatility of the cryptocurrency market has fallen to a minimum, which indicates a significant decrease in investment interest. Meanwhile, Bitcoin is approaching the 2018 cycle low. The asset has been at the bottom of 886 since the halving. In 2018, the duration of being at the bottom was 891 days. Given the propensity of bear markets to lengthen, we expect to be within the current ranges for at least a month. 98% of leaders of large companies expect a recession in the US economy in the next 12–18 months. It is these terms that should be used when analyzing the likelihood of a radical change in the situation in the crypto market and in the global economy. Conclusions Ethereum made a successful but insignificant maneuver in the overall price dynamics. Altcoin can reach the $1,500–$1,600 level if on-chain activity continues to grow with the price. However, this will not fundamentally change the situation on the market. This is a great opportunity for active traders, but the only thing left in the long-term strategy is to buy and accumulate.   Relevance up to 07:00 2022-10-19 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324590
Alphabet Reports Strong Q2 2023 Results with Growth in Advertising and Cloud Services - 24.07.2023

The Australian Dollar (AUD) Did Not Do Well | Bitcoin Is Still Showing Resilience

Craig Erlam Craig Erlam 18.10.2022 12:45
Asian stocks were flashing green on the second day of trading, while Europe is poised to open in a similarly positive manner as sentiment continues to improve, albeit from very low levels. There’s still a strong feeling of a bear market rally about trading over the course of the last week. From the post-US-inflation rebound to what has now been a strong start to the week – in part driven by the UK’s decision to no longer shoot itself in the foot – nothing about this screams sustainable. Of course, the last couple of months have been tough for equity markets since peaking towards the end of the summer and a rebound of some kind was going to happen eventually. I’m just not convinced there’s much substance behind it as the economic landscape looks treacherous and we don’t even know if we’re at peak inflation and interest rate pricing yet. Those are substantial headwinds that will make any stock market rebound extremely challenging. RBA concerned about the outlook as it slows the pace of tightening The RBA minutes, along with comments from Deputy Governor Michele Bullock alluded to the outlook as contributing to the decision to slow the pace of tightening at the last meeting to 25 basis points. While the central bank will continue to hike rates in order to fight inflation – highlighting the broad-based pick-up in prices and higher wages – it’s clearly uneasy about the economic consequences and the lags in policy after hiking rates 2% over the course of four months since the summer. The Aussie dollar has not performed well in that time, falling around 15% from its June highs against the greenback, although it has rallied a little overnight. When will Japan intervene again? The yen remains under pressure despite desperate attempts by Japan to influence the currency markets through direct and verbal intervention. Last month’s intervention was substantial but short-lived and the commentary before and after has fallen on deaf ears. Overnight there was more of the same – “a high sense of urgency”, “will take appropriate action decisively” – and even a refusal to comment on whether the Ministry of Finance is conducting “stealth FX intervention”. If it is, it isn’t working particularly well, with the yen now very close to 150 against the dollar, a level that may make traders a little nervous. Another big intervention may soon be on the cards, although Japanese officials may be uneasy about the limited effectiveness of the last. What more can and will they do? The environment remains challenging Bitcoin has its sight set on $20,000 once more as it continues to bounce back from last week’s plunge. The sell-off occurred around the release of the US CPI data which could have sent it spiralling lower but risk appetite more broadly quickly bounced back and so did bitcoin. Whether it can continue to do so unless sentiment improves more sustainably is another thing. It continues to show resilience around $18,000 – $20,000 where it’s traded for most of the last couple of months but that may not be enough if risk appetite worsens again. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Commotion Around Ethereum. "Most Favorable Crypto Economies" - Germany, Switzerland And Australia

Commotion Around Ethereum. "Most Favorable Crypto Economies" - Germany, Switzerland And Australia

Kucoin Blog Kucoin Blog 18.10.2022 22:58
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers News Highlights This Week Bitcoin (BTC/USDT) Analysis on KuCoin Chart   The crypto market remains fairly stagnant to slightly positive in the past week, with most top100 coins staying within the single-digit profit/loss mark. The slightly positive outlook came as a response to a positive start of the week for the US equities market, which managed to jump up 2-3% week-over-week.   The overall cryptocurrency market volume in the past 24 hours came up to $50.23 billion - just $30 million less than the previous week. The overall crypto market cap has remained above the $900 billion mark, now totaling $935.89. This ended up being an overall decrease of about $40 billion compared to the previous week.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's drop below the $20,000 mark is still proving to be a tough pill to swallow, as the slow market can’t seem to approach this price level with enough confidence. BTC’s dominance is solidifying near the 40% mark, now standing at just over 39%. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $19,582.28, while Ethereum, the second-largest cryptocurrency by market capitalization, has increased to $1,326.73, up 2.69% in the last week.   The top performers from the previous week were Huobi Token (HT), Casper (CSPR), and Quant (QNT. HT has increased by 46.70%, while CSPR gained 36.48% in the past seven days. Finally, QNT gained 32.09%.     Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, TerraClassicUSD (USTC), Klaytn (KLAY), and ApeCoin (APE) were the worst performers of the week. USTC is down 32.92%; KLAY is down 18.69% in the last seven days; APE is down 13.67%.   Top Altcoin Gainers and Losers Top Altcoin Gainers: Huobi Token (HT) ➠ 42.70% Casper (CSPR) ➠ 36.48% Quant (QNT) ➠ 32.09% Top Altcoin Losers: TerraClassicUSD (USTC) ➠ 32.92% Klaytn (KLAY) ➠ 18.69% ApeCoin (APE) ➠ 13.67% News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum Community Debates Over OFAC Compliance Ethereum validators have come to the public’s eye after a report has shown that over 51% of Ethereum blocks are now complying with the US TornadoCash sanctions after transitioning to a proof-of-stake (PoS) consensus algorithm.   Ethereum co-founder Vitalik Buterin expressed his belief that solo validators can choose what they do and don’t comply with, and that this behavior should be tolerated.   Vitalik Buterin made the comment in reply to a Twitter poll, discussing a hypothetical scenario whereby a validator censors a transaction just because it may not align with their beliefs.   Adding to that, Ethereum bulls have stated that “not even a single” transaction has been censored on the network. Cyber Capital founder and CIO Justin Bons argued that not a single transaction on Ethereum has been stopped as a result of Office of Foreign Assets Control (OFAC) sanctions. In fact, all non-compliant transactions have been processed in around 30 seconds as well, he stated.   KuCoin Exchange Expands its 0-fee Campaign KuCoin Exchange has announced the extension of its 0-fee BTC & ETH trading event. This means that, until Nov 02, 2022, traders can trade their favorite ETH and BTC pairs with no fees whatsoever.   Updated Event Duration: 10/19/2022 10:00 — 11/02/2022 10:00 (UTC)   As a result of its user-focused business approach, and boosted by incentives such as this promotion, KuCoin Exchange has briefly climbed to the spot of the second-largest spot exchange in the world.   European Union Commissioner Pushes for Faster Crypto Regulation The European Union has been processing and passing its landmark crypto framework for quite some time now. However, according to the European Commission’s financial services commissioner Mairead McGuinness, global crypto regulation needs to happen faster.   The remarks were made during McGuinness’s visit to Washington DC, where the commissioner stated that the regulatory efforts should take a global character and that she wants to see the regulation happen in other countries as well.   Germany Becomes the Most Favorable Crypto Economy Germany has managed to become the world’s most favorable economy for crypto in Q2 2022, according to a Coincub report. The United States, on the other hand, lost the first place and is now stationed as the seventh-most favorable.   The list also includes Switzerland at 2nd place, Australia at 3rd, UAE at 4th, Singapore at 5th, and Malaysia at 6th.   The crypto economy rankings took at look at numerous factors, including a favorable crypto outlook, clear digital asset tax rules, and more transparent regulatory communications.   The Fear & Greed Index at 22, Market Sentiment Bearish The fear and greed index has stabilized near the previous week’s levels after a huge drop from three weeks ago, when the number that represents crypto sentiment dropped from 45 to 24. The indicator now indicates “extreme fear” with a mark of 22, caused by the sudden drop of Bitcoin and other cryptocurrencies.     Fear & Greed Index | Source: Alternative   Crypto Calendar: Events to Watch This Week ➺ 18/10/2022 - AVAX - Avalanche Banff (V1.9.0) ➺ 20/10/2022 - ZIL - YouTube & Twitter AMA ➺ 21/10/2022 - LTC - Litecoin Summit 2022 ➺ 23/10/2022 - AVAX - Avalanche Creates   Bitcoin (BTC/USDT) Analysis on KuCoin Chart The largest cryptocurrency by market cap has been trading sideways for the past week, with its price ranging from $18,121 to $19,952. Unfortunately, BTC bulls haven’t been able to break the $20,000 barrier, which has proven to be a strong resistance level.   At the moment, Bitcoin is trading under the 50-day moving average (MA), which sits at the $19,672 level. If it manages to break the moving average level, this line could prove as a strong support point. However, BTC’s upside is still bound by a strong resistance zone between $20,000 and $20,500.   On the other hand, some analysts are showing that the largest cryptocurrency by market cap has been creating a triangle formation since its Sep 13 drop and that its push toward the upside indicates a slight positive sentiment.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   When it comes to support and resistance levels, Bitcoin is likely to encounter resistance to the upside at an area between $20,000 and $20,500. On the other side, analysts state that traders should watch out for $18,135, as this is the only level separating Bitcoin from the $17,550 level.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: KuCoin
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Cryptocurrency: Bitcoin Listed In... Guiness World Records 2023!

Alex Kuptsikevich Alex Kuptsikevich 19.10.2022 10:30
Bitcoin and Ethereum Bitcoin is back at $19.3K, which has been the case for seven of the last eight mornings. Attempts to build on the upside have again been met with increased selling. A perfect month-long flat has led us to see the rate lose 1.5% in 24 hours, add 0.8% in 7 days and 2.4% in 30 days. Ethereum trades near $1300, losing 2.4% in 24 hours, but is up 0.65% in 7 days. That seemed impossible, but Bitcoin found room to move further into the corner of the triangle, pulling back from its upper boundary, and the 50-day moving average acts as resistance now. All this suggests that the financial world is waiting for other clear signals, ready for a strong move in either direction. That said, we continue to be inclined to believe that the exit from this lull will be up rather than down - the decline has been too long and too much negativity is already embedded in prices. At the same time, well-known crypto blogger Ton Weiss said that Bitcoin could drop to $11,000 before it rises again. In his view, BTC is forming a downward triangle, like the 2018 triangle, when the first cryptocurrency's exchange rate nearly halved. According to another option, BTC will continue to consolidate in a sideways range until the end of the year. Interpol to fight with crypto crime The decline in implied and realised volatility towards historical lows bodes well for a surge in volatility soon, Glassnode warned. Bitcoin was listed in the latest edition of the Guinness World Records ("Guinness World Records 2023") as the oldest cryptocurrency, the first decentralised cryptocurrency and the most expensive cryptocurrency. Ethereum co-founder Vitalik Buterin said that network validators should be tolerant and not censor transactions that do not match their beliefs. The UK Financial Conduct Authority (FCA) has reported that cryptocurrency fraud has come out on top regarding complaints from aggrieved investors. Lastly, Interpol has set up a dedicated unit to tackle cryptocurrency crime. The team, based in Singapore, will assist law enforcement agencies in different countries in investigations related to digital assets.
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

Regulators Focus On Making Digital Assets More Environmentally Friendly

InstaForex Analysis InstaForex Analysis 19.10.2022 12:22
Crypto Industry News: After the European Union rejected the Proof of Work-based cryptocurrency ban, regulators are now focusing on finding a way to make digital assets more environmentally sustainable in the near future. On 18 October, the European Union published a package of reports on the Action Plan for the implementation of the European Green Deal and the REPowerEU Plan. The aforementioned projects are aimed at introducing an economical energy consumption system through the digitization of this sector. The European energy specialist turned their attention towards the cryptocurrency market. The REPowerEU plan was presented in May this year as a response to the Russian invasion of Ukraine. The attack by the Russians on our neighbor caused major difficulties on the European energy market. "The resulting crisis was one of the factors to" rapidly accelerate the clean transformation "- the European Commission said. - "Controlling energy consumption in the ICT sector" is a key element of this plan, which involves the use of blockchain technology in the energy market. The "Commission Staff Working Document" emphasizes that 10% of the world's cryptocurrency mining takes place in Europe. Germany and Ireland are on the European podium, and Sweden has recently recorded a significant leap in mining activity, after China led to an exodus of miners with its ban. We learn from the report that the European Securities and Markets Authority is working on developing special technical standards for the cryptocurrency mining industry. The authors of the document refer to a report prepared by the think tank European Blockchain Observatory and Forum (EUBOF), which discussed "potential policy options that may be justified to mitigate the negative impact on the climate of technologies used in the crypto asset market." The EU has announced that a specialist report on the environmental impact of digital assets will be prepared by 2025. If an institution decides to take certain steps on the EUBOF's recommendations, it will mean: "the world's first attempt to reduce the attractiveness of bitcoin investments and reduce the price of bitcoin." Technical Market Outlook: The BTC/USD pair bounce had been rejected from the trend line resistance seen around the level of $19,600 and is heading lower. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The momentum remains positive, which supports the short-term bullish outlook for BTC. The nearest technical support is seen at $18,938 and $18,854. The swing low and range low is seen at the level of $18,150. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.     Relevance up to 08:00 2022-10-20 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297455
An Investigation Against Terraform Labs In Singapore

The Ethereum Market Has Been Seen Making Lower Highs

InstaForex Analysis InstaForex Analysis 19.10.2022 12:28
Crypto Industry News: In March 2021, Jack Dorsey's historic first tweet was sold for $ 2.9 million. Today it is only worth $ 132. This shows a certain negative phenomenon: during a bull market, investors are able to pay for certain assets completely detached from the realities of the price. In the spring of 2021, Dorsey put his first tweet up for auction. It was significant that the post represented the NFT. It was almost the middle of the bull market on the token market. As a result, the founder of Twitter received as much as USD 2.9 million for it. He converted the dollars into bitcoins and donated to the NGO Give Directly. NFT has acquired Sina Estavi, CEO of Bridge Oracle cryptocurrency. It was not just about helping in a just cause, because the businessman posted a tweet (NFT) on the stock exchange a few days later. He wanted to get as much as $ 48 million for it. Half of the amount was to be spent on charity. The problem is that the highest bidder was around $ 280. So Estavi fielded the NFT again. This time, the most wanted to pay $ 132.72 for it. So he canceled the auction again. The most interested himself also has other big problems. In May 2021, he was arrested for "disrupting the economic system" in Iran and charged with misleading investors. He is now free and probably returned to the topic of selling the NFT. Technical Market Outlook: The ETH/USD pair has been continuing trading just below the last week high located at $1,344, so the market is range bounded. The local high was made at the level of $1,340 and then the market reversed lower towards the middle of the range The nearest technical support is seen at $1,281 and $1,267. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-10-20 UTC+00 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297457
In Crypto, You Could Prove You Own A Private Key Without Revealing It

It All Started With Bitcoin, This Is Why BTC Indicates The State Of The Entire Cryptocurrency Market

Binance Academy Binance Academy 19.10.2022 14:07
TL;DR Bitcoin dominance is the share of the original cryptocurrency, BTC, in the entire crypto market’s capitalization. For quite some time since its inception in 2009, bitcoin remained the only digital asset in existence and thus, naturally, solely accounted for all the crypto market’s capitalization. However, over time, things started to change. The year 2013 saw the first wave of altcoins that added their value to the crypto market cap’s formula. 2015 was the birth of Ethereum — Bitcoin’s closest rival that spawned the currency ether — and then, in 2017, the ICO boom resulted in BTC dominance further diluted and hitting an all-time low, only to recover to above 50% in a few months. Today, BTC dominance faces its heaviest competition in DeFi, NFT and metaverse tokens, and over 20,000 non-bitcoin cryptocurrencies. Introduction Bitcoin, the world’s first cryptocurrency, was launched to the public in 2009 by an anonymous developer or group of developers known as Satoshi Nakomoto. Since then, despite the emergence of competition, bitcoin has remained the world's largest and most valuable cryptocurrency. Its underlying technology has also inspired the development of thousands of new cryptocurrencies collectively known as alternative coins, or altcoins.  Bitcoin’s standing against the rest of digital assets continues to be hugely important and indicative of the state of the overall crypto market. To measure bitcoin’s market cap relative to the larger crypto market, traders and analysts use a ratio called bitcoin dominance, also known as BTC dominance. Learn more on Binance.com What is BTC Dominance? BTC dominance is the share of bitcoin in the crypto market’s overall value. It is calculated by dividing BTC’s market cap by the total cryptocurrency market cap.  But why is it important? Historically, traders have used BTC dominance to help understand whether altcoins are on an up or downtrend against bitcoin. For example, one popular theory is that the crypto market is heading into a bull market if altcoins are trending up. In 2017, for instance, a significant decline in BTC dominance signaled altcoin prices skyrocketing (rather than BTC price declining), coinciding with the entire market entering a bull phase. From One Cryptocurrency to Thousands In 2011, the first altcoin, litecoin, was born, and in 2013 — dubbed “the year of the bitcoin” by Forbes magazine — the number of new altcoins entering the market began to rise quickly. By May 2013, the crypto market counted at least ten tokens, including litecoin (LTC) and Ripple’s XRP.  Concurrently, bitcoin’s price skyrocketed as more investors discovered the digital asset space for the first time. Yet, even with a few newcomers to compete against, BTC dominance remained at around 95% during this period.  The birth of Ethereum In 2015, Vitalik Buterin and a team of developers launched the Ethereum (ETH) network. It set to rival Bitcoin as a blockchain that allowed more use cases beyond financial services like the transfer of money. Unfazed by the competition in Ethereum’s native token, ether (ETH), bitcoin continued to account for around 90-95% of the crypto market. Things only started to change in 2017 — the start of the initial coin offering (ICO) boom. ICO fever  Initial coin offerings (ICOs), a popular crowdfunding method for early-stage crypto projects, became a prominent trend from 2017 to 2018. There were around 2000 unique ICOs during this period, with over $10 billion raised cumulatively. Funds began flowing from bitcoin into many of the newer altcoins that surfaced at that time. Some investors believed in the compelling, yet unproven, use cases, while some were more interested in profiting off dramatic price swings.  The unprecedented influx of altcoin competition resulted in bitcoin dominance experiencing its first major decline, dropping to an all-time low of around 37% in January 2018.  2018’s crypto winter While it had generated considerable attention toward crypto, the ICO boom was ultimately short-lived. Investors realized that many ICO projects lacked core fundamentals or had questionable business practices. Some projects even became the target of regulatory scrutiny by the U.S. and other authorities. This increase in negative sentiment eventually overtook the industry, sending the entire crypto market into a prolonged period of price decline and stagnation. Bitcoin’s recovery With many altcoins’ value tanking and investors’ general disillusionment in ICOs, BTC dominance gradually climbed back to over 50% by the final months of 2018.  In 2019, bitcoin’s price experienced a slight resurgence, trading at around $7,000 by the end of the year, while BTC dominance peaked at about 70% in September. The digital asset, however, would remain relatively still until the COVID-19 pandemic struck the world in 2020. The COVID market Beginning in 2020 — in the aftermath of a short, COVID-fulled dip — the crypto market would enter a record-breaking bull run. Simultaneously, BTC dominance would reach 72% in January 2021, its highest tally since 2017, before collapsing to 39% by mid-2021.  With the looming pandemic, many people, bored and stuck at home, turned to day trading and investing to pass the time. Meanwhile, to offset the pandemic’s economic downturn, governments around the world issued cash handouts to stimulate their struggling economies. Retail traders invested a considerable portion of these funds in stocks, forex, or the crypto market for the first time. Now, following all the media attention to crypto during the latter half of 2020, altcoins became an increasingly attractive, albeit risky, choice for retail investors, especially newcomers looking for quick gains. For example, shiba inu (SHIB) saw its price go up more than 40 million percent in 2021.  Further, the rapid growth of innovations like decentralized finance (DeFI) and NFTs, which primarily exist on competing blockchains like Ethereum and Solana (SOL), contributed to bitcoin losing more of its market share. Solana’s price, for example, increased from $1.50 to an all-time high of $250 in 2021 after gaining significant institutional and retail interest in its underlying technology.  Since then, BTC dominance has struggled to climb over 50%. BTC dominance’s recent slow growth may have something to do with ETH 2.0, Ethereum’s long-awaited switch to proof-of-stake, and the ongoing bear market.    Clothing Thoughts In recent years, the growth of the altcoin market has diluted bitcoin’s market share. Unlike the early years, when there were very few competitors, bitcoin now competes against DeFi tokens, the increasingly popular NFT sector, and thousands of other cryptocurrencies.  Even so, bitcoin is still the leading cryptocurrency in terms of market cap, with BTC dominance unlikely to go away anytime soon. For starters, many investors see bitcoin as a store of value because of its finite supply — hence the nickname “digital gold.” But most importantly, bitcoin’s status as the industry’s first-ever cryptocurrency has given it a competitive edge in the digital asset market. However, history has shown if something better comes along, that first-mover advantage won’t last very long. It remains to be seen if there’ll ever be another cryptocurrency to dominate the crypto market as much as bitcoin has so far.
At The Close Of The New York Stock Exchange 728 Securities Closed In The Red

Netflix's Results Will Be A Hit On The Wall Street | The Bank Of England (BoE) Will Have To Be Very Aggressive

Craig Erlam Craig Erlam 19.10.2022 14:34
Trading is mixed in Europe on Wednesday, with Wall Street eyeing a slightly stronger open amid bumper Netflix earnings. Netflix is a hit Netflix results are expected to be a hit on Wall Street when the bell rings on Wednesday, with pre-markets pointing to a more than 13% rally in the stock. The streaming company reported revenues and earnings that comfortably surpassed expectations, while subscriber growth more than doubled forecasts. That was largely driven by the Asia-Pacific region which will become increasingly important for growth in the coming years. The company will continue to crack down on password sharing going forward, while the ad-supported plan will hope to draw in additional subscribers. After a tough year, things may be looking up for Netflix. UK inflation back in double-digits Inflation in the UK surpassed 10% again in September, slightly beating market expectations and further fueling concerns about the cost of living crisis and the role of the Bank of England in reining in rapid price increases. Naturally, all of this has been complicated by the political soap opera over the past few weeks, something the new Chancellor, Jeremy Hunt, has sought to calm by abandoning almost the entire controversial mini-budget. But inflation is still a problem, regardless, and the BoE will have to be very aggressive at upcoming meetings in order to try and get a grip of it. Markets are now undecided between a 75 and 100 basis point hike on 3 November but are quite confident that Bank Rate will end the year at 4% either way. With inflation now broad-based and fuel even offsetting some of the larger price increases, the worry is that these forecasts may prove too optimistic. ​ Intervention talk ramps up as USDJPY nears 150 Japan remains in focus as the dollar closes in on 150 against the yen. The threats of intervention have been coming thick and fast and many are wondering if 150 could be the point at which the Ministry of Finance pushes back once more. The last intervention wasn’t particularly successful, with the benefits unwinding in a matter of days. The question now is when they’ll jump back in and how forceful they’ll be. The message is clearly falling on deaf ears at the moment. Continuing to fluctuate Bitcoin continues to consolidate, with the recent rebound failing once more around $20,000. That level was once believed to be hugely significant as support but the reality is that it has simply become the point at which the price fluctuates around. That will change eventually but we’re now two months into that broadly being the case so there’s little to suggest it’s imminent. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Santiment - Classifies Bitcoin (BTC) Investors As Whales

InstaForex Analysis InstaForex Analysis 20.10.2022 08:30
Crypto Industry News: As the on-chain data shows, whales have been selling a large amount of their bitcoins for several months. In the same period, the number of portfolios of smaller BTC investors reached new ATH. A leading analytical company from the blockchain market - Santiment - classifies BTC investors as whales, who own a number of 100 to 10,000 BTC. The company said in a recent Twitter post that the amount of BTC stored in whale wallets is declining. The downward trend could be seen strongly in September, however, at some point, the trend was reversed when the bitcoin rate temporarily jumped at the end of the previous month. Even so, the first cryptocurrency failed to maintain its gains, and the whales began to shed their digital assets. Currently, this group of investors owns only 45.6% of the total supply of bitcoin. It is also the lowest figure in 3 years. Technical Market Outlook: The BTC/USD pair bounce had been rejected from the trend line resistance seen around the level of $19,600 and is heading lower. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The momentum is weak and negative on the H4 time frame chart, which supports the short-term bearish outlook for BTC that should result in another down wave. The nearest technical support is seen at $18,938 and $18,854, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 07:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297561
Scottie Pippen (Basketball Player) Received A Personalized NFT

Another Ethereum's Update Is On The Horizon

InstaForex Analysis InstaForex Analysis 20.10.2022 08:34
Crypto Industry News: We've barely forgotten about Merge, and another Ethereum update is on the horizon. This time, developers want to focus on, among others on lowering gas charges. The new trial version is now available. The Pre-Shanghai test network was named Shandong. This means that developers can prepare for deployments. The update is to take place in 2023. Most likely in the second half. This will be the first Ethereum cryptocurrency update since the transition from proof-of-work to proof-of-stake, Merge, which took place in September 2022. There will be many changes, and depending on the sources, different priorities are indicated. The most common talk of a few updates: EIP-4895 - is to enable users to pay out setH and won prizes via Beacon Chain. EIP-4844 - to offload the main Ethereum network and process operations in layer 2 networks. This is expected to increase network capacity and potentially also contribute to reducing gas bills. EIP-3540 - Separates encoding from data, which improves performance and allows easier changes to the Ethereum Virtual Machine. All these changes are expected to positively affect the performance and bandwidth of Ethereum. In addition, at least some of them may also have a positive impact on the experience of ordinary users - you would certainly appreciate the reduction in gas fees. Technical Market Outlook: The ETH/USD pair moves lower again as the momentum on the H4 time frame chart is now weak and negative. The local high was made at the level of $1,340 and then the market reversed lower towards the middle of the range The nearest technical support is seen at $1,281 and $1,267. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 07:00 2022-10-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297563
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Concerns Around The Lack Of Publicity Of Aptos Tokenomics | New Version Of Flashbots Ethereum Software

Crypto.com Accelerate the... Crypto.com Accelerate the... 20.10.2022 10:01
Weekly DeFi Index This week’s market cap, volume, and volatility indices were positive at +3.29%, +13.50%, and +73.12%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Uniswap, a decentralised exchange protocol operating on Ethereum, will soon be deployed on privacy-focused Layer-2 tool zkSync. The proposal was put forth by Matter Labs, the developer behind zkSync, and was passed following a 100% community vote in favour of the move. According to Matter Labs, deploying to zkSync will allow Uniswap to offer lower transaction costs compared to the Ethereum blockchain without compromising security. This also follows Uniswap Labs’s latest announcement that it raised US$165 million in Series B funding led by Polychain Capital.  Aptos finally hit the mainnet after years of development, but the rollout so far has been met with criticism. Months prior to launch, Aptos claimed that it can handle 130,000 transactions per second (TPS) — significantly more than other layer-1 solutions like Ethereum and Solana — but it was observed to only have reached a speed of 4 TPS at launch. A pseudonymous user tweeted: “majority of these transactions are not actual transactions, they are merely validators communicating and setting block checkpoints and writing metadata to the blockchain”. There were also concerns around the lack of publicity of its tokenomics, despite the fact that most centralised exchanges already announced listing Aptos’s native token on their platforms.  On Friday, The Ethereum Foundation announced the launch of ‘Shandong’, an early pre-Shanghai testnet that will serve as a testing ground for numerous Ethereum Improvement Proposals (EIPs). Shanghai is Ethereum’s next major upgrade post-Merge, and will introduce code that will allow network validators to withdraw their staked Ether. DEX Protocols Metrics Lending Protocols Metrics Charts on Layer-2 Projects The overall L2 market saw positive growth last week, as its TVL rose by +0.78%. Optimistic rollup projects jumped by +3.29%, while zero-knowledge rollup projects fell by -5.63%. Ethereum’s TVL change was positive at +0.61%. The TVL changes for all optimistic rollup projects were all positive except for Layer 2.Finance (-0.45%). Metis Andromeda surged the most at +12.90%. ZK rollup projects’ TVL movement was a mixed bag: StarkNet saw the highest growth at +8.24%, while Loopring plummeted the most at -9.09%. Further Reading Flashbots reveals new version of its key Ethereum software BlockTower launches $150M fund to Invest in blockchain infrastructure and DeFi Tether ditches commercial paper reserves for T-Bills Crypto market maker Wintermute pays off $96M TrueFi debt weeks after being hacked Mango Market’s DAO forum set to approve $47M settlement with hacker Moola Market exploited for $8.4 million Moran Hard Fork: BNB Smart Chain set to execute a hard fork as temporary patch fix for its $100 million exploit Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Cryptocurrency winter coming to an end in November?

FXStreet News FXStreet News 20.10.2022 15:51
Traders are euphoric and anticipate a rebound in Bitcoin, Binance Coin, XRP and Cardano, showing massive bullish sentiment. Outlook on Ethereum remains bearish despite the recent rally in top cryptocurrencies. Whales have started accumulating Bitcoin on Binance and Coinbase, indicating a rally in the asset. Read next: Tesla (TSLA) Stock Price Dropped Around 5.77% In Pre-Market Trading| FXMAG.COM Trader sentiment on Bitcoin and top altcoins like Binance Coin, XRP and Cardano has turned bullish. Crypto intelligence tracker Santiment considers that the crowd is currently euphoric on these cryptocurrencies, indicating the possibility of a November rally. Crypto crowd sentiment on altcoins turns bullish Analysts noted a persistent negative sentiment and bearishness among traders towards Bitcoin and top altcoins in the last two months. Based on data from crypto intelligence tracker Santiment, traders have turned bullish on Bitcoin, Binance coin, XRP and Cardano. The sentiment towards the largest altcoin Ethereum is just slightly bearish. Crowd sentiment on Bitcoin, XRP, Cardano and Binance Coin Though the strength of the USD has kept risk assets like cryptocurrencies under check, crowd sentiment is considered a catalyst for asset’s price rally. Bitcoin is stuck inside a tight range, awaiting an explosive breakout. The longer Bitcoin price trends within the range, the higher the eventual breakout.   Short-term uncertainty and lack of volatility has not deterred institutional investors. Based on a survey by BNY Mellon, 91% of institutional investors are keen on investing in tokenized assets over the next few years. Bitcoin accumulation signals price rally Large wallet investors are accumulating Bitcoin on centralized exchanges Binance and Coinbase. Based on data from CryptoQuant, accumulation started when BTC price hit the $20,000 level. Bitcoin spot trading volume dominance skyrocketed, hitting 84%. Typically, accumulation by whales and spot trading volume dominance are bullish signals for Bitcoin price. BTC spot trading volume dominance Bitcoin spot trading volume for all exchanges has increased twenty times over the past six months. The volume renewed a year-high in September 2022, however since then there has been no significant change in the daily closed price, indicating someone is buying all the sell-side liquidity.
Bitcoin Is Showing A Good Sign For The Further Rise

East Asia Has Lost Its Position This Year And Is The Fourth Largest Cryptocurrency Market In The World

InstaForex Analysis InstaForex Analysis 21.10.2022 09:50
Crypto Industry News: Chainalysis, released data yesterday indicating that East Asia is the fourth largest cryptocurrency market in the world. In the period from July 2021 to June 2022, cryptocurrencies worth $ 777.5 billion were sent there. This number accounts for less than 13% of the global transaction volume in this period. As a result, the survey showed that East Asia has lost ground to other markets this year. According to the data, the region saw a year-on-year increase in transaction volume by just 4%, making it the market with the lowest crypto activity this year. In 2021, East Asia was the third largest by volume of crypto transactions. The biggest reason for this loss is probably the decline in cryptocurrency activity in China, the largest market in the region. The investigation showed that the country saw a decrease in transaction volume by 31% compared to the previous period. Meanwhile, Japan, for example, more than doubled this parameter. This is likely due to the Chinese government's suppression of crypto activity over the past year. In addition to low cryptocurrency trading activity in the region, the data indicates that East Asia has surprisingly low DeFi adoption. Throughout the year, DeFi accounted for just 28% of East Asian transaction volume, less than all regions outside Eastern Europe. Technical Market Outlook: The BTC/USD pair bounce had been rejected from the trend line resistance seen around the level of $19,600 and is heading lower. So far the bulls are protected by the intraday support, however, the pressure may pay off soon when a breakout is made. There is still missing one more wave to the downside in order to complete the Falling Wedge pattern. The momentum is weak and negative on the H4 time frame chart, which supports the short-term bearish outlook for BTC that should result in another down wave. The nearest technical support is seen at $18,938 and $18,854, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $19,510 WR2 - $19,356 WR1 - $19,287 Weekly Pivot - $19,202 WS1 - $19,133 WS2 - $19,048 WS3 - $18,894 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout.   Relevance up to 09:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297766
Bitcoin Has Made A Dynamic And Aggressive Reversal

Unbelievable Bitcoin price forecast! According to Ton Weiss BTC may reach $100K next year!

Alex Kuptsikevich Alex Kuptsikevich 21.10.2022 09:53
Bitcoin is trading near $19K on Friday morning, losing 0.5% overnight. It hovered between $18.9K and $19.3K on Thursday, remaining pinned closer to the lower end of its trading range due to pressure in the US equity market and gold at the close of trading in New York. Cryptocurrency whales Bitcoin has closed lower for three consecutive days, but the bears have not yet decided to storm the support of the last four months. So far, we have seen an inertial retreat of cryptocurrencies amid a melting demand for risky assets (gold and equities) due to rising US interest rates. Cryptocurrency whales have been selling bitcoin for the past few months, reducing their reserves to a three-year low, according to a Santiment report. It was only last week that the whales changed tactics and began returning to cold-storing BTC. Hashrate Index notes that public miners sold fewer bitcoins than they mined for the first time since May, in August and September. The market continued to pressure miners’ financial strength throughout the third quarter. Outstanding Bitcoin price prediction Bitcoin will grow by 400% and reach $100,000 next year even before another halving, said renowned crypto trader and blogger Ton Weiss. According to him, the halving will be implemented earlier than investors expect, closer to March or April 2024. But the hype of the upcoming event will manifest itself much earlier. The cryptocurrency division of investment giant Fidelity Investments will offer institutional clients the option of trading Ethereum as early as the end of October. Bitcoin trading there was launched back in 2019. Read next: People's Bank of China Loan Prime Rate Stays Unchanged | A Softer Labour Market In Australia |Eyes On The US - Philly Fed Manufacturing Index| FXMAG.COM According to a poll, more than 77% of Salvadorans opposed the purchase of bitcoins by the state, calling the government's decision unfortunate. El Salvador declared BTC legal tender in September last year.
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

Investor Jim Rogers Believes The Current Bear Market Will Be Much Worse

InstaForex Analysis InstaForex Analysis 21.10.2022 09:56
Crypto Industry News: Investor Jim Rogers, who founded the Quantum Fund with billionaire George Soros, expects the current bear market to be much worse than we think. He adds that the recession ahead will be the worst of his life. "We will probably have our last rally, but that will be the end," he predicts. The famous investor Jim Rogers shared his view on the state of the US economy in a press interview published on Monday. Rogers is a former business partner of George Soros who co-founded Quantum Fund and Soros Fund Management. He was asked if right now was "the beginning of an impending recession, the worst some have predicted". Rogers replied: "Well, (...) yeah, this is going to be the worst [recession] of my life. "In 2008 we had a problem because of too much debt, but since 2009 debt has increased sharply everywhere," he added, explaining why he believes that we are in a very tough crisis. In July, Rogers had already warned that the worst slump of his life was coming. He also predicted the end of the US dollar. It is still unknown how cryptocurrencies would react to such a long bear market. There is a chance that they would break away from the stock market and function as safe haven. Technical Market Outlook: The ETH/USD pair had been rejected form the 30 periods moving average after the Pin Bar candlestick was made at $1,309 and moves lower again. The momentum on the H4 time frame chart is now weak and negative. The local high was made at the level of $1,340 and then the market reversed lower towards the middle of the range The nearest technical support is seen at $1,281 and $1,267. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,333 WR2 - $1,318 WR1 - $1,311 Weekly Pivot - $1,302 WS1 - $1,295 WS2 - $1,286 WS3 - $1,270 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/297768
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Magic Eden Is The Latest NFT Marketplace | The World Of Football And Skateboarding At The NFT (PSG x Clown Skateboards)

Crypto.com Accelerate the... Crypto.com Accelerate the... 21.10.2022 11:03
Key Takeaways Solana-based Magic Eden has become the latest NFT marketplace to shift to an optional royalties model, following in the footsteps of X2Y2 in August. Under this model, buyers can make the decision on how much royalties to pay. Playing card brand Bicycle bought a Bored Ape Yacht Club NFT for US$187,000. The brand plans to create and sell physical playing cards based on the Ape. Bicycle specifically chose an Ape with a joker playing card in a helmet — only 2% of the 10,000 Apes have this attribute. NFT fantasy sports gaming platform Sorare is launching a free-to-play digital collectible-based fantasy basketball game in partnership with the NBA. Players can collect NFT trading cards featuring NBA basketball players, as well as assemble and manage teams. X2Y2 recorded a -30% decrease in sales and a -10% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +39% and its transaction count also increased +66%. The total market cap for GameFi tokens now stands at $7.2 billion, down -7% from last week. Crypto.com NFT in the Spotlight The “Halloween Bash – Create Your Own Halloween Monster” NFT collection allows users to explore endless combinations in pursuit of creating their completely unique creature. A collaborative effort between seven prominent NFT creators, this drop is cementing itself as a major show of artistic excellence. “PSG x Clown Skateboards” features the worlds of football and skateboarding, as well as the two beloved cities of Paris and London, with accompanying easter eggs. This NFT collection is created by Clown Skateboards‘s Jeff Boardman and Vikas Malik, in collaboration with the Paris Saint-Germain football club. NFT Highlights Azuki reveals physical backed tokens for on-chain ownership of physical items Shopify users get their hands on Tezos NFTs with new partnership Digital real estate platform sells house as an NFT Coinshares launches experimental new NFT pricing tool Latin American exchange Lemon integrates with NFT marketplace TravelX to allow airline ticket purchases GameFi Highlights GameFi platform Arcade raises $3.2M led by Crypto.com and other prominent investors DappRadar says Decentraland has 650 daily active users Major League Baseball is hiring to expand its NFT, digital games and metaverse presence Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi Japan’s Konami seeks to hire talents to advance Web 3, metaverse, and NFT efforts NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $99,000 Minted VVS Miner Mole $59,000 Magic Eden DeGods $2,235,000 OpenSea CryptoPunks $3,623,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $99,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $59,000 Sample Platform Magic Eden Collection DeGods Sales Volume (USD) $2,235,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $3,623,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

A Positive Sign For Bitcoin Is The Correlation With Gold

InstaForex Analysis InstaForex Analysis 21.10.2022 11:47
For the past four months, Bitcoin quotes have been moving within a wide fluctuation range of $17.6k–$25k. Over the past month, the cryptocurrency has mastered the $18.2k–$20.4k area. The consistent movement of BTC within certain areas was made possible by a decrease in trading activity. Bitcoin tried to go beyond the ranges, but each such attempt was unsuccessful. At the same time, the drop in trading activity had a positive impact on the stability of the cryptocurrency. Thanks to the minimal attention of investors, the level of Bitcoin volatility has updated a seven-year low. Does Bitcoin correlate with gold? As a result, some stock indices have become more volatile than the main cryptocurrency. According to Bloomberg experts, a significant decrease in volatility has become a catalyst for increased attention to the industry by institutional investors. Arcane Research also stated that the decline in Bitcoin's volatility has affected the asset's "relationship" with gold. The correlation of BTC and the precious metal over the past month has reached an all-time high zone. It is for this reason that the cryptocurrency holds on to the $19k level, and does not follow the stock indices. The correlation of Bitcoin with stock indices remains, despite the passive behavior of the cryptocurrency price. Technically, Bitcoin follows the price movement of the S&P 500 and other indices, but everything happens within a narrow price range, which does not allow BTC volatility to increase. What does the growing correlation between BTC and gold mean? The macroeconomic situation and the seven-year low of volatility return Bitcoin the status of digital gold. Investors look to the asset as a deflationary savings vehicle. Given that the correlation between Bitcoin and stock indices persists, the reorientation is just beginning. In the medium term, this can significantly increase the attractiveness of Bitcoin and allow the asset to go beyond price ranges. However, along with the growing interest in cryptocurrency, the level of volatility will undoubtedly increase. Given this, there are two possible options for Bitcoin in the medium term. While maintaining the boundaries of the wide range of $17.6k–$25k, the correlation with gold may strengthen. However, in case of multiple attempts to go beyond the area, BTC volatility will start to rise. The growing correlation of Bitcoin with gold is situational but beneficial for the cryptocurrency. This suggests that investors are ready to consider a digital asset in various forms, including savings. Given the continuation of the Fed's hawkish policy, the correlation with gold is a positive signal. However, it is important to understand that fundamentally nothing has changed for Bitcoin. Gold is as much an underdog in the current bear market as high-risk assets. Precious metals rise during the DXY correction, and therefore you should not count on significant dividends from the correlation with gold. Conclusions The growing correlation of Bitcoin with gold confirms the willingness of investors to use the situational strengths of the cryptocurrency. In the medium term, interest in BTC can provoke an increase in trading volumes and the achievement of local highs. However, fundamentally the situation around the cryptocurrency does not change. In the current macroeconomic crisis, high-risk assets and precious metals are in the boat of outsiders. Given this, we can say with confidence that Bitcoin has no significant chances for a full-fledged growth before the end of the Fed's aggressive policy.   Relevance up to 09:00 2022-10-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324953
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Bitcoin's Momentum Is Still Driven By Risk Appetite

InstaForex Analysis InstaForex Analysis 21.10.2022 14:36
Size matters. While investors observe bitcoin's falling volatility before their eyes and draw analogies from 2018, when in the same conditions the leader of the cryptocurrency sector collapsed like a stone after prolonged consolidation, the "bulls" on BTCUSD find a difference from the events of 4 years ago. In their opinion, trading volumes were falling then, but now they are still high. Although the indicator has moved away from its annual peaks, $100 billion worth of bitcoins, including $50 billion worth of derivatives, change hands every day. The first figure is a fifth of the daily turnover in the colossal size of the US stock market. Behind the apparent calm in the crypto market, there is internal tension. Volatility has fallen to its lowest levels since April, and BTCUSD's attempts to break out of the 18,500–20,000 trading range are ending in failure. You can, of course, recall the history and the attack of the "bulls" on bitcoin at the end of the week by October 14. In the past, if the leader of the cryptocurrency sector left the 5% consolidation range and closed above it by 1%, then 60 days after 15 such signals, it grew by an average of 19%. Bitcoin Volatility Dynamics However, history is a fascinating thing, but unreliable. Market conditions may vary. Including trading volumes. In any case, the time is not chosen. If you do not leave the crypto asset market, then you need to look for opportunities to make money even in the face of falling volatility before your eyes. Some investors find it to be buying options to make a profit on a narrow trading range. Others say that the BTCUSD peak towards the 18,000–19,000 area creates ideal conditions for buying in the long term. Let's wait and see who was right. When the market is in tug-of-war mode for a long time, a radical change in attitude should not surprise anyone. Morgan Stanley, which has traditionally acted as a "bear" on US stock indices, claims that the hour has come for short-term purchases of shares. On the contrary, almost the main "bull" of Wall Street, JP Morgan, advises its clients to refrain from long positions for a while. Bitcoin's momentum is still driven by risk appetite, so traders should keep a close eye on what's going on in the US stock market. The start of the corporate reporting season is encouraging, but the fact that the US Treasury yield has exceeded the 4% mark and continues to grow by leaps and bounds does not bode well for stock indices and BTCUSD. The fundamental valuation of stocks is declining, and investors are rushing to remove unattractive assets from the portfolio. The sale of equity securities is also carried out by miners who need to cover the costs of ongoing operations. Technically, on the daily chart of bitcoin, quotes are wandering around the fair value at 19,100. It makes sense to use the rebound from 18,500 and 18,200 for purchases. Unsuccessful resistance tests at 19,800 and 20,100 are for sales.   Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/324959
Bitcoin Has A Sign Of The Sideways Regime

Who Should Oversee The Cryptocurrency Market, The SEC Or The CFTC?

InstaForex Analysis InstaForex Analysis 24.10.2022 10:37
Crypto Industry News: The CFTC (Commodity Futures Trading Commission) and the Securities Exchange Commission (SEC) are two regulatory agencies in the US that have been the subject of much debate about who should oversee the cryptocurrency market and illegal activities related to the industry. It is well known that the SEC wants full control over the oversight of virtual assets such as digital and stablecoins. For its part, the CFTC also wants the same level of regulatory powers. This would entail strengthening its control over some financial instruments, and at the same time it would have the possibility of increasing the revenue of the office. According to a statement released by the CFTC on October 20, the Legal Enforcement Division had 82 recorded activities this year, 18 of which were related to cryptocurrencies. In percentage terms, the digital asset class accounted for over 20% of all filings made by the CFTC this year. Commissioner Rostin Benham, commenting on the development of the situation, said: "This report shows that the CFTC continues to aggressively oversee new digital asset markets with all the tools available." I. Among the actions taken by Benham's office this year was the filing of a lawsuit against bZeroX DAO investigating the manipulation of the native Digitex Futures token and an alleged $ 1.7 billion fraud. The CFTC has also imposed its sanctions in the event of failure to register a Designated Contract Producer (DCM), a Futures Commissioner (FCM) and a Swap Execution Facility (SEF). Subsequently, Benham confidently expressed his readiness to regulate the plight of cryptocurrencies as preparations to be a fully funded regulator of this particular industry are already underway. Technical Market Outlook: The BTC/USD pair has broken above the local trend line resistance around the level of $19,400, however, there is still missing one more wave to the downside in order to complete the Falling Wedge pattern. Nevertheless, the market made a Shooting Star candlestick pattern at the level of $19,678 and is currently testing the broken trend line from above. The nearest technical support is seen at $19,248 and $19,078, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298007
Previous Fed Hikes Didn't Trigger Bitcoin To Fall, But...

According to DappRadar, in Q3, NFT trading volume in metaverses went down by 80% Y/Y | In the previous week, the leading cryptocurrency gained almost 1%, Ethereum went up by 1.5%

Alex Kuptsikevich Alex Kuptsikevich 24.10.2022 10:27
Price of the first cryptocurrency increased, ETH/USD did well Bitcoin rose 0.9% over the past week, finishing near $19.5K. The markets' reversal to growth on Friday afternoon and the pummelling on Sunday significantly contributed to this growth. However, the effect of the latter has been almost completely wiped out. The 50-day moving average continues to effectively play its role as a resistance, triggering a new selling wave when it tries to go higher early on Monday. The price rally on Sunday formally took the quote outside the triangle, but we still need a confirmation of the upside exit. Such a confirmation signal should be a consolidation above the previous highs at $19.6K, which has so far failed. Ethereum added 1.5% to $1330. Other leading altcoins from the top 10 showed mixed dynamics: from a 5.1% decline (Solana) to a 1.2% increase (Dogecoin). Total crypto market capitalisation, according to CoinMarketCap, rose 0.9% over the week to $933bn. The Cryptocurrency Fear and Greed Index fell 1 point over the week to 23 and remains in 'extreme fear'. Bitcoin Group's announcement Weak trader activity suggests that cryptocurrencies are at the bottom, Bianco Research believes. Stagnation can be seen as a positive, and we are unlikely to see a more profound plunge. In Brazil, 24,000 ATMs in the Banco24Horas network will add support for Tether (USDT) stablecoin. The stablecoin operator has partnered with SmartPay to do so. Analyst service DappRadar published a report showing that NFT trading volume in metaverses fell 80% y/y in the third quarter of this year. Lastly, Bitcoin Group announced plans to acquire one of Germany's oldest banks, Bankhaus von der Heydt.
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Financial Conduct Authority (FCA) - The British Financial Market Regulator Has Published A Supervisory Strategy For The Cryptocurrency Market

InstaForex Analysis InstaForex Analysis 24.10.2022 10:43
Crypto Industry News: The amendment to the Financial Services and Markets Act, which is currently being processed by the UK Parliament, will expand the powers of the authorities to regulate various activities in the digital asset market. The amendment was written by Andrew Griffith, MP and Financial Secretary of the Treasury. The 335-page bill was introduced into legislative circulation in July and had its second reading in the House of Commons on September 7. According to the justification accompanying the said amendment, this one is intended to "clarify" the "rights related to the promotion" of financial services and other cryptocurrency related activities. The Financial Conduct Authority (FCA), the British regulator of the financial market, published an open letter on August 9, which describes in detail the supervisory strategy for "alternative" financial companies, i.e. those from the cryptocurrency market. Let's add that most of the cryptocurrency companies in the UK are not now under the control of the FCA, although they have the option to apply for a special license to operate. Anyway, they will have to do the latter next year at the latest. The registration process currently only covers anti-money laundering and anti-terrorist financing measures. However, it turned out to be too difficult for many applicants. The FCA also took action in August on advertising high-risk financial products and made it clear that cryptocurrency assets could be risky. In March this year. FCA also announced that it is looking for employees with experience in the field of cryptocurrencies. As it was then reported, the authority is preparing to launch a new department responsible for regulating this sector. Technical Market Outlook: The ETH/USD pair had been rejected form higher price levels after the failed breakout above the trend line. The local high was made at $1,369 and then the market reversed back under the trend line again. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,344 was broken, so the next are seen at $1,318 and $1,299. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298009
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Bitcoin's (BTC) Price Should Not Be Expected To Rise

InstaForex Analysis InstaForex Analysis 24.10.2022 10:47
Over the weekend, changes in the price of Bitcoin were minimal due to a decrease in trading activity. The macroeconomic situation also remains tense; therefore, most financial instruments are moving in large groups. Bitcoin after a month of consolidation The new trading week does not promise significant changes in price for Bitcoin, as the asset remains locked inside the $18.6k–$19.8k area. The cryptocurrency unsuccessfully tried to go beyond this range, but even bursts of volatility did not allow it to radically change the situation. However, after a month of boring consolidation, we can conclude that the $18.6k support level is the final one before updating the local bottom. The $19.8k–$20.4k zone is a key resistance area. With its bullish breakdown, the cryptocurrency has a chance to show local growth to $23k–$24k. The question of whether we should expect a radical change in the situation this week rests on the lack of independence of Bitcoin. Attention to the digital asset has reached a local bottom, and trading volumes do not exceed $30 billion. The number of unique addresses also remains low, below 800,000. At the same time, the level of correlation with stock indices and the S&P 500 has declined significantly in recent weeks. The fall in BTC volatility and movement within a narrow range increased the correlation of the cryptocurrency with gold. However, reorienting investors' positions regarding Bitcoin has only just begun. This means that in the medium term, one should not expect an increase in BTC quotes due to the popularity of the asset amid a recession. Bitcoin vs DXY The inverse correlation between Bitcoin and the US dollar index persists, and despite market expectations, DXY continues to rise. Moreover, a bullish pattern is forming on the daily chart of the asset, which may soon provoke another bullish momentum of the index. Technical indicators on the 1D point to the emergence of bullish signals. The relative strength index bounced off 50 and resumed its upward movement, which indicates an increase in buying interest. Stochastic has also resumed its upward movement and is preparing for the formation of a bullish crossover. These factors point to a growing interest in DXY in the short term. Given the bullish signals, we should expect an upward breakdown of the "triangle" figure and the price movement to the levels of 118–120. Results Bitcoin and stock indices have a pronounced inverse correlation with the US dollar index. After recent statements by Fed officials to maintain the current monetary policy, the inverse codependency has only strengthened. This means that in the short term, we should expect a decline in stock indices and cryptocurrencies. Bitcoin risks at least updating the $18.6k support area. If this level is successfully passed, the price will rush to $17.6k–$18.2k. With large order volumes and liquidity below the local bottom ($17.6k), it is unlikely that market makers will hold the local bottom. This means that with a bearish breakdown of $18.6k, it is very likely that Bitcoin will update the local bottom near the $16k level.   Relevance up to 09:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325094
Craig Erlam And Jonny Hart Discuss Crypto Situation And The US Election Results

CipherTrace And Its Help In Investigating Illegal Transactions Involving Cryptocurrencies

InstaForex Analysis InstaForex Analysis 24.10.2022 12:36
Amid a lull in the crypto market, Mastercard has announced the release of new software that would help banks detect and block transactions with fraud-prone crypto exchanges. The new system, called Crypto Secure, uses complex AI algorithms to determine the risk of crime associated with crypto exchanges on the Mastercard payment network. The company said that the system relies on data from the blockchain, a public record of crypto transactions, as well as other sources. Startup Mastercard The service is powered by CipherTrace, a blockchain security startup Mastercard acquired last year. CipherTrace helps companies and state institutions investigate illicit transactions involving cryptocurrencies. Its main competitor is the New York-based firm Chainalysis, as well as Elliptic. Mastercard noted that the service was launched due to growing crime in the nascent digital asset market. According to Chainalysis, the amount of crypto entering wallets with known criminal connections surged to a record $14 billion last year. Furthermore, 2022 saw a wave of high-profile hacking attacks and scams targeting crypto investors. On the Crypto Secure platform, banks and other card issuers are shown a dashboard with color-coded ratings representing the risk of suspicious activity. The decision on whether to turn away a specific crypto merchant is down to the card issuers themselves, and not Crypto Secure. Mastercard Mastercard already uses a similar technology to prevent fraud in fiat currency transactions. Crypto Secure extends this functionality to Bitcoin and other cryptocurrencies. In an interview with CNBC, Ajay Bhalla, Mastercard's president of cyber and intelligence business, said that the move was about ensuring its partners can stay compliant with the complex regulatory landscape. "The whole digital asset market is now a pretty large, substantial market. The idea is that the kind of trust we provide for digital commerce transactions, we want to be able to provide the same kind of trust to digital asset transactions for consumers, banks and merchants," Bhalla said. Bitcoin On the technical side, Bitcoin has recouped losses it sustained during an earlier slump. The market is now balanced once again, suggesting that risk appetite of investors is low. The key level for BTC at this point is the resistance at $19,500. The cryptocurrency needs to regain this level to begin a new upward correction. If BTC breaks above this level, it would then need to break through the resistance at $20,540 and $21,410. If BTC ends up under increased pressure, which is quite possible, bulls would need to defend the support levels of $19,100 and $18,625. A breakout below these levels would quickly push the instrument back towards the lower boundary of the sideways channel at $18,100, opening the way towards $17,580. Ethereum Ethereum has rebounded from the strong support level of $1,275 upwards and is currently moving sideways. A breakout through $1,275 could change the situation in the market significantly. However, ETH would need to settle above $1,343 to stabilize the situation and return balance. From there, Ethereum could rise towards $1,402 and $1,457, with more distant targets being $1,504 and $1,550. Continuing pressure on the instrument and a breakout below $1,275 could send the instrument down towards the support at $1,210. If ETH breaks through this level, it would slide down to $1,150, where major market players would come into play once again.     Relevance up to 10:00 2022-10-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325108
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Blockchain And Cryptocurrencies Could Start The Web3 Revolution

Binance Academy Binance Academy 24.10.2022 13:34
TL;DR The internet has evolved from the “read-only” Web 1.0 to the current state of Web 2.0, which is often described as participatory and social-driven. Now, we are gradually moving toward the next phase of the internet, Web 3.0, often styled Web3 in the digital asset space. Web3 holds the promise of allowing people to own things digitally, easily transact online, and have more control of their personal data. Blockchain and crypto ecosystems already have working products for Web3. For example, users can make peer-to-peer (P2P) payments and collect digital items with crypto wallets. Many blockchain-based projects are decentralized by design and allow anyone to use them. Introduction Digital assets can become an intrinsic part of Web3 – a new internet that is expected to remedy the ills of the current Web such as the concentration of power at the hands of a few centralized social media platforms and exploitation of users’ personal data. The decentralized and permissionless nature of blockchains is instrumental in distributing communication power rather than granting it to central authorities. While digital assets bring native digital payments to Web3, they can also function as tokens programmed to play a wide range of roles in digital economic systems. Blockchain and crypto could also make Web3 more community-centered through decentralized autonomous organizations (DAOs).  Learn more on Binance.com How is Web3 different from Web2? The main evolutionary steps of the internet are often represented as the qualitatively different phases dubbed Web1, Web2, and Web3. In the Web1 era, users couldn't change online data or upload their own content to the websites they were interacting with. The internet back then consisted of static HTML pages that enabled simple, one-way experiences, such as reading information forums. Web2 allowed content consumption and simple interaction. Then, Web2 has gradually emerged as a more interactive internet where users were more involved in generating their own content. Since these modes of online interactions were mainly facilitated by social media platforms, Web2 saw the rise of new types of centralized tech giants. The current Web2 ecosystem is changing again as more of its failings get exposed. For example, internet users have become more concerned about data tracking and ownership, as well as censorship issues. The power of centralized companies has become especially noticeable when they began leveraging it to ban specific users and organizations form their platforms. Web2 companies also use the data to keep users on their websites and create targeted ads for third parties’ benefit. Such economic incentives can drive such companies to act not in users’ best interest. The vision of Web3 is that of the next step toward a better internet. Its central promises include making online platforms decentralized, trustless, and permissionless. It could also bring about digital ownership, digital-native payments, and censorship-resistance as a new standard of Web products and services. Blockchain and crypto are perfectly positioned to become essential technologies of Web3 because they are inherently decentralized, permitting anyone to record information on-chain, tokenize assets, and create digital identities.  How do blockchain and crypto fit into the Web3 ethos? Decentralization. As noted above, one of the central problems of Web2 is concentration of power and data at the hands of a few major players. Blockchain and crypto can decentralize Web3 by facilitating a wider distribution of information and power. Web3 could employ blockchain-powered public distributed ledgers to allow for greater transparency and decentralization. Permissionlessness: Blockchain-based projects replace proprietary systems of traditional companies with openly available code. The permissionless nature of the applications built on the blockchain allows anyone worldwide to access and interact with them without restrictions. Trustlessness: Blockchain and crypto eliminate the need to trust any third party, such as a bank or an individual intermediary. Web3 users can transact without the need to put trust in any entity but the network itself.  Payment rails: Cryptocurrencies could serve as the digitally native payments infrastructure of Web3. Digital assets can potentially improve the expensive and bulky payment infrastructure of Web2 because they are truly borderless and don't require intermediaries. Ownership: Crypto already offers tools like self-custodial crypto wallets that allow users to store their funds without intermediaries. Users can also connect wallets to decentralized apps to use their funds in a variety of ways or showcase their digital items. Anyone can verify ownership of these funds and items using a transparent public ledger. Censorship resistance: Blockchains are designed to be censorship-resistant, meaning that no party can unilaterally alter the record of transactions. Once the record has been added to the blockchain, it's nearly impossible to remove it. This feature could help preserve all manner of speech from government and corporate censorship. Are blockchain and crypto essential for Web3? Web3 may well rely on technologies that are not related to blockchain or cryptocurrency. For example, technologies such as augmented reality (AR), virtual reality (VR), the internet of things (IoT), and the metaverse may become essential to the new era of the internet as well. While the blockchain could operate more on the infrastructure side of Web3, these technologies and solutions could help make the internet more immersive and connected to the real world. IoT could connect various devices through the internet, while AR could embed digital visual elements into the real world, and VR could construct computer-generated environments populated by items represented as digital assets. Finally, scaling and bringing these technologies together could make a unified metaverse the reality of Web3. Crypto could provide digital-native payment rails and much more. Utility tokens can unlock a universe of use cases essential for Web3. Also, non fungible tokens (NFTs) could help verify identity and ownership within the digital realm in a way that does not compromise users’ control of their personal data. What will Web3 with crypto and blockchain look like? Blockchain technology can become one of the foundations of Web3, but users might not even notice it. If the applications built on blockchains are user-friendly and intuitive, people will not give the underlying infrastructure another thought – much like we rarely consider the data servers and internet protocols that are foundational to social media platforms that we use daily. NFTs could enable users to display digital collectible items to other users and help create and maintain their unique digital identities. They could also serve other functional purposes, such as underpinning many key processes in online gaming. Blockchain and crypto can transform the way Web3 users coordinate and enforce collective action through decentralized autonomous organizations (DAOs). DAOs empower people to organize around a shared interest without a central decision-making authority. Instead, token holders vote to determine the best course of action together. In addition, all the activity and votes are visible on a blockchain. Therefore, DAOs can drive Web3 to be more decentralized, transparent, and community-centered.  Closing thoughts Web3 may solve the big problems of today’s internet and minimize the power of the tech giants. However, it is still largely an aspirational vision rather than tangible reality. Still, the technologies that will likely underpin the next iteration of the Web are indeed already in development. Blockchain and crypto are often considered to be the among the technologies that are most likely to usher in the Web3 revolution because they are designed to facilitate decentralized, permissionless, and trustless interactions. In addition, blockchain technology and digital assets do not rival other key components of Web – such as AR, VR, and the internet of things – as they are likely to yield the most promising solutions when combined with one another.
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Cryptocurrency Volatility Continues To Decline | The European Union And Energy Efficiency For Blockchains

Crypto.com Accelerate the... Crypto.com Accelerate the... 24.10.2022 13:42
Crypto volatility in freefall. Ethereum launches Shandong testnet. Europe to develop energy efficiency label for blockchains. Chart(s) of the Week: Crypto Volatility Freefall Crypto volatility continues to fall, as seen in the options implied volatilities (vols) downtrend for both BTC and ETH. Implied vols are derived from the options market and are typically used as forward-looking measures of risk. 1-week implied vol for BTC currently is at 43.7%, the lowest level this year.  While one interpretation of the low volatility could be less cautious sentiment, it could also be seen as a somewhat dull environment from a short-term trading perspective as the price is essentially stuck in a narrow sideways range. The low implied vols potentially also indicate relatively cheap prices for downside protection via options. Crypto Fund Flow Tracker The aggregated exchange balances for both BTC and ETH continued to fall over the past week, potentially implying weakening sell pressure. No significant movements were seen in OTC (over-the-counter) desks’ balance for BTC. OTC desks are typically used by larger investors. Crypto Derivatives Pulse No significant movements in BTC and ETH put-call ratios over the past week. BTC perpetual futures funding rates remain positive (longs pay shorts), while ETH funding rates continue to hover around neutral levels. Crypto Price Movements Crypto News Highlights Ethereum (ETH) launches Shandong, a testnet to prepare for the Shanghai upgrade. Shandong will be a testing ground for numerous Ethereum Improvement proposals (EIPs) for selecting to include in the later Shanghai upgrade, one of which could potentially be allowing those that hold staked ETH to withdraw it.  The European Union is set to develop an energy efficiency label for blockchains. This is part of wider plans to control energy consumption of the Information and Communications Technology (ICT) sector.  Aptos (APT), a Layer-1 blockchain, launched its mainnet. Aptos was created by ex-Meta developers and includes among its investors Andreessen Horowitz. Following the launch, there has been some controversy about its tokenomics and transaction speed being slower than claimed. Fidelity’s crypto platform, Fidelity Digital Assets, will allow its institutional clients to trade ETH starting on 28 October. This follows Fidelity’s launch of an Ethereum Index Fund for accredited investors back in late-September. A single miner managed to capture a large portion of the Bitcoin SV (Bitcoin Satoshi’s Vision) blockchain by accounting for as high as 80% of the hashrate. The miner has been mining near-empty blocks, making the blockchain unusable for long periods of time. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.  
The leading cryptocurrency may fell because of inflation and Fed – Weekly Crypto Market Analysis by Geco.one

The leading cryptocurrency may fell because of inflation and Fed – Weekly Crypto Market Analysis by Geco.one

Geco One Geco One 24.10.2022 15:26
Bitcoin (BTC) Bitcoin has been running since mid-September this year in a horizontal trend between the support of $ 18,500 and the resistance in the region of $ 20,650 and measuring the 50% Fibonacci retracement from an earlier downward impulse. Considering that the end of October promises to be relatively calm on the global financial markets regarding important macroeconomic data releases, it seems highly probable that BTC will remain in the range mentioned above for the next 1.5 weeks. The catalyst for higher volatility may be the meeting of the Federal Committee for Open Market Operations (FOMC) scheduled for November 2nd. Given the positive US labour market data presented in the October 7th Nonfarm Payrolls report and last week's inflation readings, it seems highly probable that the Fed will raise interest rates for the fourth time in a row by 75 basis points in November. The report published October 13th this year shows that consumer inflation (CPI) in the United States in September amounted to as much as 8.2%, which means it decreased by only 0.1 percentage point from 8.3 per cent reported in August this year. As if that were not enough, core inflation, which the Fed pays special attention to, increased to 6.6% from 6.3%, which speaks for a further aggressive tightening of monetary policy, which could ultimately contribute to the renewed depreciation of BTC. The assumptions of classic technical analysis also support this scenario. Consolidation, i.e. the pattern that we have been observing on Bitcoin for over five weeks, is perceived as a correction system from which the market breaks more often in the direction consistent with the earlier move. So, if, in this case, we had previously seen declines, statistically, there is a greater probability that BTC will fall below $ 18,500, which in turn could drive further depreciation. Ethereum (ETH) The current situation on the Ethereum quotes is also very similar, the price of which has been in the horizontal trend for a long time. In this case, its lower bound is at the support of around USD 1,250, and the upper resistance is around USD 1,425. Considering that this is a pattern seen as a form of temporary rebound after previous declines and that the upper bound of this pattern coincides with measuring 38.2% of the Fibonacci retracement from an earlier downward move, it seems highly probable that after this correction is completed, the ETH exchange rate will return to the downward path and will slide down to the region of USD 1,000, or even further to USD 800. It is worth mentioning here, however, that there is no rule for how long a market can remain in consolidation. One can estimate that the ETH rate will remain within this consolidation until November 2nd when the next Federal Reserve meeting will occur. Bitcoin Cash (BCH) Bitcoin Cash has been operating since mid-October this year in a horizontal trend, the upper bound of which is marked by the recently broken support (now resistance) of $ 112. If only the market rebounds from this level, the price of this cryptocurrency could return to the downward path and slide even to the  â€‹â€‹June and July lows, i.e. to USD 97. Potential declines are also supported by the fact that the current consolidation is in the form of a correction after previous declines, which naturally increases the probability that BCH will slide even lower after the rebound. Litecoin (LTC) Litecoin's quotations have been held since September 18th in the ascending right-angled triangle formation, from which the market is still knocked down in the first half of October this year. Over the last few days, however, the LTC rate has increased by over 12%, thus re-testing the previously broken upward trend line, which is the lower boundary of the above triangle. However, a rebound from this resistance could drive further declines, for which the USD 47 and 42 seem to be the actual ranges. It is there that the two closest support levels are located. Solana (SOL) The re-test of the recently defeated support (now resistance) is also currently observed on the Solana quotes. In this case, it is in the $ 29.50, close to the downward trend. A rebound from this ceiling could trigger another downward impulse towards USD 26. It is also worth noting that it would be one of the lowest levels since July 2021. Avalanche (AVAX) Looking at the Avalanche quotes, we notice that, in line with our last week's projection, the cryptocurrency rate has recently rebounded from technical support by $ 14.50, then increased by 12.5%, thus returning to the area of ​​previously defeated support (now resistance) in the region of USD 16.50. If the currently tested resistance is discarded in the near future, the AVAX price could nevertheless return to the path of decline and slide back to the region of $ 14.50 or even further below $ 10. Binance Coin (BNB) Binance Coin has been trading since the second half of August this year. In a horizontal trend between the support of $ 262 and the resistance in the region of $ 297. It is worth noting that within this consolidation, a second, smaller one has recently emerged, the upper limit of which is marked by local resistance around USD 276. The common features of both of these systems are their lower bound, marked by the support of $ 262 and the fact that both of these consolidations are corrective formations after previous declines, which increases the likelihood of a breakout from them down, which in turn could naturally drive a further BNB sell-off in towards USD 244, or even USD 214. EOS Looking at the EOS quotes, we notice that the price of this cryptocurrency fell between October 1 and 13 this year by almost 24%, reaching $ 0.94 at one point. Over the last few days, however, there has been a slight demand reaction here, and if only these increases continue, the EOS rate could return to the area of ​​earlier made support (now resistance) in the amount of USD 1.15. However, the small dynamics of this rebound may indicate that it is only a temporary correction, after which the price of this cryptocurrency will return to the downward path. If that happens, it could fall as low as $ 0.88. Chainlink (LINK) Chainlink's quotations have recently slipped to an upward trend line and horizontal support of USD 6.65. A slight demand reaction appeared a few days ago in the vicinity of this support. It is worth noting, however, that each of the last three rebounds from this level, which we observed in the second half of September this year and in the first half of October this year. And now it was getting smaller. This may indicate a weakening demand pressure, increasing the probability of overcoming this support. If that happens, LINK could fall as low as $ 5.90.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Tesla's Losses After $1.5 Billion Invested In Bitcoin

InstaForex Analysis InstaForex Analysis 25.10.2022 11:24
Crypto Industry News: According to Tesla's latest Q3 earnings report filed with the U.S. Securities and Exchange Commission, the electric vehicle manufacturer has revealed that it has invested a total of $1.5 billion in Bitcoin since early 2021. Of this amount, the company now has a $170 million unrealized loss resulting from the change in the fair value of its investment. This is offset by a $64 million profit on Bitcoin profits at various times in the past two years, leading to a net loss of $ 106 million by the end of the third quarter. Tesla's losses, however, did not significantly affect the company's core business. The electric vehicle manufacturer's profits grew 169% year-on-year from $3.3 billion in the first nine months of 2021. However, the company only has around 218 million in Bitcoin on its balance sheet. According to the law, digital assets are considered intangible assets with an indefinite useful life. Consequently, any decline in their fair value will require Tesla to recognize an impairment loss, while the company does not make upward adjustments for any price increases up to the point of sale. Under this favorable tax treatment, losses can be deducted from profits to reduce tax liability, while capital gains are not taxed until sale. Technical Market Outlook: After the BTC/USD pair made the market made a Shooting Star candlestick pattern at the level of $19,678, the market reversed and is consolidating around the local trend line. The nearest technical support is seen at $19,248 and $19,078, however, the target for bears is the swing low and range low seen at the level of $18,150. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298195
The Ethereum Has Located Just Above The Key Short-Term Technical Support

Failed Breakout Of The Ethereum (ETH/USD) Above The Trend Line

InstaForex Analysis InstaForex Analysis 25.10.2022 11:35
Crypto Industry News: Rishi Sunak has become the new leader of the Conservative Party in Great Britain. This means that he will also head the British government. This may have an impact on the cryptocurrency policy of the Albion government. Rishi Sunak will replace Liza Truss, who has headed the British government for just over a month, as Prime Minister. Sunak himself competed with her for the office of head of government immediately after Boris Johnson's resignation. It didn't work then. He won 60,399 votes, while Truss 81,326. Now, however, this former finance minister is taking power in the party and thus in the country. Sunak was elected leader by members of the Conservative Party on Monday. Truss was forced to resign after her plan to fight the crisis proved impossible to implement. While serving as Finance Minister in Prime Minister Boris Johnson's government, Sunak announced that he wanted to turn the UK into a cryptocurrency hub. He helped prepare, among others The Financial Services and Markets Act, which, if enacted, could give local regulators broad power over the cryptocurrency industry - starting with the inclusion of asset-linked cryptocurrencies such as stablecoins within the scope of the payment market regulations. Under his leadership, the Royal Mint was entrusted with the task of creating the NFT collection, which, however, is yet to be realized. Technical Market Outlook: The ETH/USD pair had been rejected form higher price levels after the failed breakout above the trend line. The local high was made at $1,369 and then the market reversed back under the trend line again. Currently, the bulls and bears are consolidating in a tight range, between the trend line resistance and the technical support. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,344 was broken, so the next are seen at $1,318 and $1,299. Please keep an eye on the market behavior close to the local trend line (marked orange on chart). The demand zone is now located between the levels of $1,191 - $1,1219. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.       Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298197
Sber And First Issue Of Gold-Backed Digital Financial Assets

The Correlation Between The Gold And Bitcoin Indicates The Willingness To Use The Digital Asset As A Safe Haven

InstaForex Analysis InstaForex Analysis 25.10.2022 13:35
The last two months were supposed to be a turning point in the view of the vast majority of players in various markets. The crisis in all its manifestations should have gone into decline, and the Fed's policy should have softened. Such were the expectations of autumn in July and early August. Bitcoin leaves the fund and goes to gold However, the situation turned out to be the opposite due to the low effectiveness of the fight against inflation. As a result, the Fed's aggressive monetary policy has been maintained, and interest rate cuts are not expected until 2023 at the earliest. At the same time, the vast majority of financial market participants are confident that a recession in the US economy will occur in the next 8–12 months. This means that the situation has not returned to normal for at least a year. Therefore, investors begin to look for assets to preserve capital. Low trading activity and the fall in Bitcoin's volatility to local lows provoked increased attention to cryptocurrency as a store of value. The growing correlation with gold confirms the reorientation of investors' positions in relation to BTC. Bank of America experts also believe that the growing correlation between the precious metal and Bitcoin indicates a willingness to use the digital asset as a "safe haven." At the same time, the correlation of Bitcoin with stock indices gradually weakened, which was reflected in the BTC/USD price charts. BTC/USD analysis As of October 25, the main cryptocurrency is trading in the usual range of $18.6k–$19.8k. Trading volumes continue to decline, due to which the "triangle" figure is gradually coming to an end. In the near term, there is every reason to expect the Bitcoin price to go beyond the current range. Technical indicators on the daily chart point to the continued flat trend, which is not surprising in the face of falling trading volumes. Considering that the asset has been trading within a narrow range for more than a month, we can assume an upward breakout of the resistance level, after which the local bottom will be updated. This scenario would seem most obvious if Bitcoin continued to maintain a correlation with stock indices. According to JPMorgan analysts, the stock market is at the peak of the current season. Analysts attribute this to the historical context of October, as well as the "mid-term elections" factor, due to which trade has significantly revived. At the same time, the co-dependence of BTC and stock assets is weakening, which casts doubt on a similar upward movement in the cryptocurrency. Gold analysis This means that from now on, in order to analyze the further movement of the price of Bitcoin, it is necessary to take into account the state of gold. The precious metal is in a downward trend and has hit a 2020 low. At the same time, there is reason to believe that the precious metal has completed its downward movement. On the daily chart, we see the formation of a "double bottom" pattern, as well as a "bullish engulfing" pattern. Two bullish signals may indicate a gradual price reversal. The MACD indicator completes the formation of a bullish crossover, which indicates a strong bullish trend. Results The situation in the cryptocurrency market and related sectors has stabilized due to a combination of fundamental and local factors. Thanks to this, we see the growth of the stock market and the prerequisites for the growth of precious metals. Given this, the probability of an upward breakdown of the "triangle" of Bitcoin increases. In this case, the targets will be the $23k–$24k levels. However, given the huge volumes of liquidity below the local bottom, an upward impulse cannot be ruled out, turning into a steep bearish peak. In the current liquidity situation, updating the local bottom is a necessary evil for a full-fledged start of an upward trend.   Relevance up to 10:00 2022-10-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325235
Technical Outlook Of The Further Movement Of Bitcoin

Mastercard And Integrate Cryptocurrency Trading Into Bank Interfaces

InstaForex Analysis InstaForex Analysis 26.10.2022 09:53
Crypto Industry News: Mastercard will implement its technology to integrate cryptocurrency trading into bank interfaces, while Paxos is expected to provide its trading and fiduciary services. The global payment giant continues its efforts to promote cryptocurrency adoption by developing a new tool to enable banks to trade cryptocurrencies such as Bitcoin (BTC). Mastercard officially announced on October 17 a new program that will enable financial institutions to provide their clients with cryptocurrency trading opportunities and services. The program, called the "Cryptocurrency Source", is designed to allow users to buy, store and sell cryptocurrencies, complemented by the proprietary Crypto Secure solution for additional security and compliance. The tool was launched in partnership with an existing partner, Paxos Trust Company, and is scheduled to go live in the fourth quarter of 2022. Paxos is known to provide similar services to the global payment giant PayPal, which launched its first crypto services in late 2020. Technical Market Outlook: After the BTC/USD pair bounced from the technical support seen at $19,248, the bulls aggressively extended the move up towards the level of $20,221 and currently are consolidating there. The supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle) is very important for bulls from a technical point of view, because only a sustained breakout above it would change the outlook to more bullish, so please keep an eye on this zone for a possible breakout towards the next target seen at $22,410. The intraday technical support is seen at $19,950. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.       Relevance up to 08:00 2022-10-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Read more: https://www.instaforex.eu/forex_analysis/298351
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

Spain Is A Leader In Europe In Terms Of The Number Of Crypto ATMs

InstaForex Analysis InstaForex Analysis 26.10.2022 10:22
Crypto Industry News: Spain is currently a country where as many as 260 crypto ATMs have been installed, which pushes El Salvador - where there are 212 such devices - to the fourth position in the CoinATMRadar ranking. The data confirms that the country is behind 0.6% of the world's cryptocurrency ATM installations. Moreover, it means that Spain is the market leader in Europe. In second place we have Poland (205 devices), followed by Switzerland (152 ATMs) and Romania (139). In 2022 alone, more than 40 ATMs were installed in Spain. This year, a total of over 100 ATMs will be installed. MediaMarkt, a German electronics retailer, and Confinity are working to install devices in Austria, Germany, Greece and Spain. Interestingly, Spain is going against the tide when it comes to the global trend. There is a net change in crypto ATMS installation around the world. New data confirms that 796 devices were withdrawn from the global network in September. Nevertheless, calculations based on data from the past 60 days show that around seven devices are installed worldwide every day. Technical Market Outlook: The ETH/USD pair had broken out from the consolidation zone and made a new local high at the level of $1,525. It took only two H4 time frame candles (8h) to rally over $184 (14%), so the breakout is strong and might extend higher. The momentum on the H4 time frame chart had hit the extremely overbought market conditions, so the pull-back is imminent. The nearest technical support is seen at $1,473 and $1,449 and the next target for bulls is seen at $1,645. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2022-10-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298353
Bitcoin Has Made A Dynamic And Aggressive Reversal

Traders Who Bet On The Downside Of The Crypto Market Have Suffered

InstaForex Analysis InstaForex Analysis 26.10.2022 14:25
On Tuesday, Bitcoin added 3.91%, and today, as of writing, it has already grown by 2.86%. The bullish rally over the past 24 hours has allowed the market capitalization of the entire crypto market to rise to over $1 trillion for the first time since October 5, 2022. The main cryptocurrency was finally able to overcome the $20,000 mark. Moreover, BTCUSD has overcome the resistance at 20,381. Consolidation above will allow the price to continue rising towards the level of 21,700. Key to explaining the rise of BTC For the first time in three weeks, the price topped $20,000, a move that came as a surprise to many. More recently, concerns about inflation and macroeconomic uncertainty have dominated the cryptocurrency market. However, yesterday saw an increase in the stock market as Microsoft and Google, among others, announced earnings. At the same time, risk appetite improved, and the dollar index collapsed, which most likely became the main key to the growth of BTC. When DXY began to lose ground between 8 and 10 am EST, the price of Bitcoin surged shortly thereafter. During these two hours, the DXY index fell from 112.072 to 110.846 points. At the same time, the price of the main cryptocurrency showed initial strength, which then grew into a further rally. This phenomenon is not new. For most of 2022, Bitcoin and the dollar index were in close inverse relationship, i.e. while DXY was rising, BTC was falling. Although the correlation has declined again in recent weeks, yesterday's movement may indicate a resumption of correlation. Thus, whether Bitcoin can continue to rise may depend on the weakness of the DXY. In this regard, the Federal Reserve System is likely to again be in the focus of investors' attention. Markets will then keep an eye on tomorrow's US GDP report to gauge future Fed policy. The US economy is currently expected to grow by 2.4% in the third quarter, which means that interest rate hikes are not having too much of a negative impact on the economy at this time. This, in turn, may push the Fed to further raise interest rates. As the central bank recently confirmed, it will keep raising rates until something breaks. The weakening economy may be just the first sign that the Fed will soon have to abandon its aggressive plan to raise interest rates. The next FOMC meeting on November 2 may provide more information on this. Bull Rally: Don't Rush to Rejoice Thus, yesterday's rally in cryptocurrencies was partly driven by the fall in the US dollar index and improved risk appetite. Technically, this might make you think that the cryptocurrency bottom may have already been reached. However, it would be premature to draw such linear conclusions now. The US Federal Reserve is likely to make another 75 basis point hike at its November meeting, according to most analysts polled. As interest rates rise, the crypto space may again find itself in serious turbulence, with the main cryptocurrency falling in price again. Avalanche of liquidations: positions of 120,000 crypto traders destroyed Nearly 120,000 crypto traders have their positions wiped out in the last 24 hours as Bitcoin surges above $20,000. Data from derivatives analytics platform Coinglass shows that more than $806.39 million in long and short positions were liquidated on October 25. Traders who bet on the downside of the crypto market have suffered. Coinglass shows that over $704.75 million in short positions were liquidated on Tuesday. On October 25, long positions were also closed for more than $101.39 million. However, experts warn that the recent rally is likely preparation for a massive bull trap. One analyst believes that Bitcoin will take another step higher before trapping the BTC bulls and fully correcting to its $14,000 bottom target. "The fact that this retracement is happening before taking the last high is a good sign. In my opinion, we will see the last push up to $21,000 this week. Time pivots are October 27th and November 2nd (interest rates). Potential bottom about mid-November."     Relevance up to 11:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325379
Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

Technical analysis of the leading cryptocurrency, Bitcoin, by Sebastian Seliga (InstaForex) - 27/10/22

InstaForex Analysis InstaForex Analysis 27.10.2022 12:42
Crypto Industry News: The UK has moved forward with the Financial Services and Markets Act sharpening its vision of Bitcoin and the country's "digital clearing asset". The bill proposes "a series of measures to maintain and strengthen the UK's position as a world leader in financial services, ensuring that the sector continues to provide services to individuals and businesses across the country." This law confirms Britain's intention to become a global cryptocurrency hub, as repeated by Lisa Cameron, MP and chairwoman of the All-Party Parliamentary Group The Crypto and Digital Assets. In a weekend interview, she explained that cryptocurrencies are in the mind of lawmakers, although there is still a long way to go. The law builds on existing measures to extend the stablecoin regulation and introduces "digital settlement assets" (DSA) as a new term, moving away from the use of "crypto assets". According to the UK government, "crypto assets use some form of distributed ledger technology (DLT)" while DSAs include stablecoins, "because of their potential to turn into universal tender." The UK government has previously commented that there will be a "package of measures" to improve regulation and transparency on Blockchain, Cryptocurrencies and Bitcoin. Elsewhere, the new prime minister, Rishi Sunak, also expressed interest in certain areas of cryptocurrency, such as support for the creation of the Royal Mint NFT token. The recognition of cryptographic and digital assets as financial instruments has yet to be enshrined in law. The Act Must Pass Key Steps: The House of Lords will need to approve or amend the law before final royal approval by the new monarch, King Charles III. Technical Market Outlook: The BTC/USD pair has finally broken through the supply zone located between the levels of $20,221 - $20,580 (marked as a red rectangle; now will act as a demand zone) and made a local high at the level of $21,017 (at the time of writing the analysis). This strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back towards the intraday technical support seen at $20,580 is welcome. Nevertheless, the next target for bulls is seen at the level of $22,410 and if the momentum would have stayed on the elevated levels, this target could be hit even by the end of this week.     Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term. Relevance up to 09:00 2022-10-28 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298591
The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

The Developments In The Crypto Sector Made It Into The Record Books (The Guinness World Records)

InstaForex Analysis InstaForex Analysis 27.10.2022 14:10
The world of cryptocurrencies is now recognized by the Guinness World Records (GWR), which has added Bitcoin to its new "Cryptomania" category, recognizing the top cryptocurrency as the first decentralized currency. GWR has been cataloging record-breaking feats and achievements since 1955, and 2022 was the first year that developments in the crypto sector made it into the record books. Several other notable advances in the blockchain space have also been added, including cryptocurrency adoption, fan tokens, and non-fungible tokens (NFTs). Bitcoin has been recognized not only as the first decentralized currency, but also as the most valuable cryptocurrency due to its market capitalization of $816.69 billion, which was registered on March 24, 2022. The nonfungible token (NFT) project CryptoPunks was also recognized by GWR as the most "expensive NFT collectible" after CryptoPunk was bought by entrepreneur Deepak Thapliya on February 12 this year for $23.7 million, or 8,000 Ether. El Salvador was also recognized as the first country to accept bitcoin as legal tender last June. Last week, the world's leading crypto exchange, Binance, announced that it had broken the Guinness World Record after being recognized for hosting the largest cryptocurrency class ever, attended by 289 people on October 7 at Blockchain Land Nuevo Leon. And in early September, Merriam-Webster added the words "altcoin" and "metaverse" to its reference pages. "Bitcoin" was previously added in 2016, while "cryptocurrency," "initial coin offering" and "blockchain" were added in 2018.   Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325497
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Aave, MakerDAO and NEAR deliver us with interesting news

Crypto.com Accelerate the... Crypto.com Accelerate the... 27.10.2022 21:57
Aave released a technical paper of its upcoming GHO stablecoin and first audit findings. MakerDAO voted in favour of founder’s ‘Endgame Plan’. NEAR Foundation to shut down USN stablecoin. Weekly DeFi Index This week’s market cap index was positive at +1.30%, while volume and volatility indices were negative at  -11.19% and -4.91%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens     News Highlight Decentralised lending protocol Aave released a technical paper on its upcoming GHO stablecoin, along with the results of its first security audit conducted by security firm Open Zeppelin. GHO was proposed and passed in July this year, with 99.9% of community votes in favour of launching the coin. The code audit found two medium-severity bugs in the codebase; however, there were no critical or high-severity bugs found.  MakerDAO votes in favour of founder Rune Christensen’s ‘Endgame Plan’, one designed in the hopes of improving protocol governance mechanisms and making it more decentralised. It involves restructuring the DAO into smaller teams dubbed MetaDAOs, where each will have its own governing token and aligned mission. NEAR Foundation will shut down its USN stablecoin, an update that comes after the network suffered a US$40 million ‘collateral gap’. In light of this event, it also launched the USN Protection Programme to support the digital asset’s wind-down and fully cover this collateral gap, ensuring eligible USN holders can redeem their USN on a 1:1 basis with USDT. Polygon-based decentralised exchange QuickSwap recently announced plans to close its lending platform following a flash loan exploit. The attack took place on the Market XYZ lending market, and over $220,000 worth of tokens were reportedly stolen. QuickSwap confirmed that the hacker has returned the stolen funds and that the vulnerability exploit did not affect its smart contract. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer-2 Projects The overall L2 market remained at the same level last week, as its TVL rose slightly by +0.41%. Optimistic rollup and zero-knowledge rollup projects jumped +0.79% and +1.21%, respectively. Ethereum’s TVL change was positive at +4.23%. The TVL changes for all optimistic rollup projects were all slightly positive except for Metis Andromeda (-0.86%). Optimism surged the most at +0.87%. ZK rollup projects’ TVL movement was a mixed bag: StarkNet saw the highest growth at +34.20%, while Loopring plummeted the most at -2.57%. Further Reading zkSync rolls out critical testnet integration for its validity proofs ahead of mainnet Circle partners with Axelar on cross-chain initiative for USDC Umee: Mainnet upgrade to unlock the full potential of the Cosmos ecosystem Q3 update: Bitcoin mining now consumes 0.16% of the global energy production An unknown miner commands more than 51% of BSV’s hashpower, consecutive strings of empty blocks makes chain unreliable Ankr becomes one of the first RPC providers to the Aptos blockchain Flashbots has a new plan: ‘Make TradFi look embarrassing’ Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: DeFi & L1L2 Weekly (26/10/2022) (crypto.com)
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Horse Racing At The NFT-DeRace | OpenSea Sales Were Positive, GameFi Saw An Increase

Crypto.com Accelerate the... Crypto.com Accelerate the... 28.10.2022 09:28
Key Takeaways Crypto.com signed an MOU with gaming software development studio ACT Games. The Cronos blockchain will soon be powering ACT Games’s NFT trading card game “Zoids Wild NFT Arena”. Crypto.com will issue an NFT collection based on A Story produced Korean drama “Extraordinary Attorney Woo”. Four whale artworks produced by top Korean illustrator Chul-min Lee were also showcased at Blockchain Week in Busan. Bored Ape Yacht Club NFT holders have access to a new merchandise drop. The BAYC x McBess x The Dudes drop contains apparel, accessories, and artwork. Amongst the items are t-shirts, jackets, prints, and stickers with monochromatic designs. Reddit brought half a million or more newcomers to the world of NFTs, using a jargon-free approach to presenting digital collectibles. Around three million wallets have been created to acquire Reddit’s Collectible Avatars, and sales volumes have exceeded US$6.7 million. X2Y2 recorded a -19% decrease in sales and a -15% decrease in transactions. Meanwhile, OpenSea‘s sales were positive at +21% and its transaction count also increased +9%. The total market cap for GameFi tokens now stands at $7.83 billion, up +9% from last week. Crypto.com NFT in the Spotlight The “Visa Masters of Movement” NFT collection is a fusion of football, art, and technology. To celebrate FIFA World Cup Qatar 2022, Visa has taken some of football’s most iconic moves from five legendary players and transformed them into digital art. Proceeds from the sales of this collection will also benefit the charity Street Child United. DeRace is an NFT horse racing metaverse based on blockchain technology and it allows players to race, equip, breed, and rent NFT horses. Each “DeRace Mystery Box” contains one wearable NFT for your virtual horse, including saddles, horseshoes, and stirrups.These can be used to unlock the performance of the NFT horses or traded on NFT marketplaces. NFT Highlights NFT marketplace LooksRare switches to optional royalties OpenSea revises OpenRarity Protocol to reflect market dynamics Twitter will allow users to buy and sell NFTs through tweets Over $1M worth of ETH and NFTs stolen in phishing attack Apple to allow in-app purchase of NFTs, subject to 30% tax rate Swiss Seba Bank launches NFT custody despite market decline GameFi Highlights Gaming and NFTs will drive Web3 growth: Crypto.com COO Blockchain game Alien Worlds launches in-game DAOs Nissan to launch game NFTs Axie Infinity drops 22% over the week amid fears of token unlock GameFi-focused network Oasys Blockchain launches mainnet with support of Sega, Ubisoft, and Bandai Namco NFT Transaction Benchmark The following chart shows select top NFTs and their historical floor prices: Top Collections The following table shows select top creators (by sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Sample Crypto.com NFT Loaded Lions $234,000 Minted Cronos Cruisers $291,000 Magic Eden y00ts: mint t00bs $1,711,000 OpenSea CryptoPunks $6,566,000 Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $234,000 Sample Platform Minted Collection Cronos Cruisers Sales Volume (USD) $291,000 Sample Platform Magic Eden Collection y00ts: mint t00bs Sales Volume (USD) $1,711,000 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $6,566,000 Sample GameFi Top Gainers & Losers Top Games Metrics Daily Gamers by Blockchain Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.  
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Hong Kong Is The Key To Cryptocurrency Success | Bitcoin Is Down Again

InstaForex Analysis InstaForex Analysis 28.10.2022 09:38
Crypto Industry News: In a recent blog post, Arthur Hayes, known from BitMEX, wrote that Hong Kong is the key to cryptocurrency success. According to media reports, the Hong Kong regulator plans to approve retail investors' direct investment in cryptocurrencies. Additionally, the institution will reconsider the regulation of digital asset trading. "Hong Kong's friendly reorientation towards cryptocurrencies heralds China's return to cryptocurrency capital markets." Says Hayes now. In his opinion, as soon as the Chinese turn to cryptocurrencies again, "the boom will return." "It will be a slow process," he added. Hayes also believes that a sharp and sudden depreciation of the Yuan, similar to the one in 2015, could lead to the start of another cryptocurrency bubble. It's worth noting that this is not the first time a former BitMEX director has said something like this. He added that although the Chinese did not engage heavily in the market, they did not leave it. The current global geopolitical situation will eventually force them to do something about the dollars they earn each month from their exports. Hong Kong's reorientation as a pro-cryptocurrency center in the region, according to Hayes, is part of Beijing's broad strategy. So Hong Kong would become a cryptocurrency window to the world of the Middle Kingdom? Technical Market Outlook: The BTC/USD pair has come back down from the high of $21,017 to the demand zone located between the levels of $20,221 - $20,580 and is testing the lower level of this zone. The last 9% strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back towards the intraday technical support seen at $20,21 is taking place. Nevertheless, the next target for bulls is seen at the level of $22,410 and if the momentum would have stayed on the elevated levels, this target could be hit even by the end of this week. Weekly Pivot Points: WR3 - $20,025 WR2 - $19,682 WR1 - $19,461 Weekly Pivot - $19,340 WS1 - $19,119 WS2 - $18,997 WS3 - $18,655 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298767
The Ethereum Market Is In The Pull-Back Mode Now

More Institutions Now Invest In Cryptocurrencies Than A Year Ago

InstaForex Analysis InstaForex Analysis 28.10.2022 09:43
Crypto Industry News: One of the biggest topics that has been debated in the cryptocurrency ecosystem for years is how the emergence of institutional investors will transform the sector and take it to new and higher levels. What will change when the world's largest asset managers enter the crypto scene. The severe crisis of 2022, which wiped out more than $ 2 trillion from the total cryptocurrency market capitalization, put an end to the expectations of many. However, new Fidelity data shows that institutions are still interested in getting exposure to an emerging asset class. According to the 2022 Institutional Investor Digital Assets Study conducted by Fidelity Digital Assets, which surveyed 1,052 institutional investors in Asia, Europe and the United States. It found that more institutions are now investing in cryptocurrencies than a year ago, when the cryptocurrency market was rising. "Despite the difficulties in the market, the adoption of digital assets among the surveyed institutional investors increased in both the US (42%) and Europe (67%), a 9-point and 11-point change year-on-year, respectively," Fidelity wrote in the report. Institutional investors in Asia have seen a slight decline in popularity over the past year, but are still the most accepting of digital assets of all regions surveyed, with 69% of respondents reporting an allocation to digital assets. Overall, 58% of those polled reported having digital assets in the first half of 2022, a 6% increase year on year. Both Bitcoin and digital assets as a whole were positively rated by 51% of respondents. Technical Market Outlook: The ETH/USD pair has been seen making a local pull-back on the H4 time frame chart after the 19% rally hit the level of $1,594. The breakout was strong and might extend even higher when the pull-back is done. The momentum on the H4 time frame chart had hit the extremely overbought market conditions and is currently coming off this levels. The nearest technical support is seen at $1,473 and the level of $1,513 will now act as the intraday technical resistance. The next target for bulls is seen at $1,645. Weekly Pivot Points: WR3 - $1,413 WR2 - $1,379 WR1 - $1,357 Weekly Pivot - $1,345 WS1 - $1,323 WS2 - $1,311 WS3 - $1,267 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-10-29 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298769
Technical Outlook Of The Further Movement Of Bitcoin

Cryptocurrencies Are The Best Way To Save For Retirement

InstaForex Analysis InstaForex Analysis 29.10.2022 08:25
At the end of the week, interesting reports were received on the activity of institutional investors in the cryptocurrency market. In addition, there is good data on the growth in adoption of digital assets. This, in turn, confirms the long-term bullish outlook for the market. Let's consider everything in order. Fidelity report shows crypto winter resilience The Fidelity Digital Assets survey does not paint a bleak picture of institutional investment in digital assets, although it does indicate that some segments are far more active than others. Fidelity Digital Assets released its annual study of institutional investment in digital assets on October 27th. It shows that digital asset fundamentals remain strong despite headwinds, but adoption remains highly uneven among different types of investors. In its survey of 1,052 institutional investors in Asia, Europe, and the US, Fidelity found that digital asset usage rose by 9% and 11% in the US and Europe, respectively, to 42% and 67%. Asia saw a slight decline in adoption, but still remained in the lead with 69%. One of the biggest jumps observed has occurred in the future intentions of wealthy US investors, with 74% of investors in this category planning to buy or invest in digital assets in the future, up from 31% a year earlier. In general, this figure increased from 71% to 74%. Fidelity Digital Assets President Tom Jessop commented on the report: "Institutional investors are experienced in managing cycles. To a large extent, the inherent factors that they called attractive in this study are likely to remain when the market emerges from this period." The most dramatic conclusion in the report may be the large acceptance gap among types of investors. Wealthy investors, crypto hedge funds/venture capital and financial advisors show much more attachment to digital assets than family offices, pension/defined benefit plans, traditional hedge funds, and endowments and foundations. So while 82% of wealthy investors are "currently buying/investing in digital assets," that figure drops to 7% for traditional hedge funds and 5% for pension funds. Cryptocurrency assets under management rebound after slump Daily cumulative trading volume for institutional crypto investment products fell to a two-year low at a time when prices for most crypto assets continued to trade sideways during the bear market. According to CryptoCompare's latest Digital Asset Management Review report, Digital Asset Product Managed (AUM) assets began to recover last month after a "painful September". AUM rose 1.76% in October to $22.9 billion as of the 25th. The company's report notes that this is the first increase in AUM since July of this year, and that this figure is still well below what was seen during this year's market peak in March. Last month, average daily aggregate volumes across all crypto investment products fell 34.1% to $62.3 million in October. This is a continuation of the downward trend in volumes since November 2021, which only briefly stopped, increasing by 0.39% in May. The report also said that October was the second month since September 2020 that average daily volumes fell below $100 million. Despite falling trading volume, assets under management of investment products based on bitcoin and Ethereum rose by 2.55% and 3.35%, respectively, while trust products increased their assets by 2.33% to $17.7 billion. Thus, the market rose to a five-month high of $77.3. Notably, bitcoin-focused products have shown mixed results over the past 30 days, with returns ranging from -4.7% to 2.7%. At the same time, Ethereum-based products showed returns ranging from -22.1% to 0.8%. During the same period, BTC is up 3.38% against the USD and ETH is up 9.9%. Bitcoin products posted a weekly inflow of $8.37M, while ETH products posted a $5.03M outflow. This may be driven by macroeconomic climate uncertainty as investors seek to invest in more secure crypto products. Charles Schwab: cryptocurrency for retirement savings Financial giant Charles Schwab has published the results of its own study, which showed that cryptocurrency is the best way to save for retirement. "Generation Z and millennials are more likely to invest in cryptocurrencies, real estate, annuities and small businesses than older generations." Titled "401(k) Participant Study - Gen Z/Millennial Focus," the report presents the results of Logica Research's annual online survey of U.S. 401(k) participants for Schwab Retirement Plan Services Inc. In total, the survey included 1,000 401(k) plan members aged 21 to 70 who are actively employed in companies with at least 25 employees. When asked about their current investments, 43% of Gen Z respondents said they invest in crypto, compared to 47% of Millennials, 33% of Gen Xers, and 4% of Boomers. The report goes on to show that investing in cryptocurrencies is one of the top five ways to save for retirement. It is the second most popular retirement savings method for Gen Z respondents and the third most popular for millennials. In terms of how respondents would like to invest in their 401(k) accounts, 39% cited annuities that offer a guaranteed income after retirement, while 32% cited cryptocurrency. Generation Z and Millennial respondents chose cryptocurrency as their top answer.     Relevance up to 10:00 2022-10-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325636
Saxo Bank Podcast: A Massive Collapse In Yields, Fed's Tightening Cycle And More

The Eurozone Releases Its Inflation And FOMC Decision Ahead

Ed Moya Ed Moya 29.10.2022 08:37
US Will the fourth 75 basis-point rate hike be the last major rise before the Fed downshifts in December?  Next week’s FOMC decision is widely expecting a unanimous vote for one last major rate increase. With the Fed’s preferred price measure still showing inflation is running hot, that might make it harder for them to set up a possible downshift in its rate-hike pace for the December meeting. Despite an acceleration with inflation, strong consumer spending data, and a robust labor market, much of Wall Street is growing confident that the Fed will pause tightening once they take the funds rate to 4.50-4.75% next quarter. In addition to the FOMC decision, traders will also closely monitor the nonfarm payroll report.  The strong labor market is still expected to show job growth with 200,000 jobs created in October, down from the 263,000 created in the prior month. The unemployment rate is expected to tick higher and wage gains are expected to slow. It will be another busy week filled with earnings that will likely confirm the slowdown being seen across the economy.  Healthcare, consumer discretionary, energy, and car manufacturer stocks will report next week. EU Inflation has hit double-digits and remains the ECB’s number one priority. The Eurozone releases its inflation report on Monday. Inflation rose to 10.0% in September, and it is expected to surge to 10.3% in October. Some analysts are expecting a possible surge to 11.0%.  Core inflation is projected to tick higher to 4.9%. The Eurozone will release the October Final PMIs, which are projected to indicate contraction, with readings below the 50.0 level. Manufacturing will be released on Wednesday and Services on Friday. Manufacturing is expected at 46.6 and Services at 48.2, confirming the initial estimates. UK The UK releases Final PMIs for October, with Manufacturing on Tuesday, Services on Thursday and Construction on Friday. The 50.0 line separates contraction from expansion. The initial readings were 45.8 for manufacturing and 47.5 for services, indicative of weak economic activity in the UK. Construction may provide a silver lining, with an initial reading of 52.3, pointing to slight expansion. The highlight of the week will be the Bank of England’s rate decision on Thursday. The BoE raised rates by 0.50% in September and is expected to go all in with a jumbo 0.75% hike, which would bring the cash rate to 3.0%. The vote could have two dissenters, which is why markets are expecting a downshift to a half-point pace in December.  The UK may already be in a recession and higher rates will hurt households and businesses, but the BoE has little choice but to continue tightening if it hopes to curb red-hot inflation, which is at 10.1%. Russia The war in Ukraine and the severe Western sanctions have taken a steep toll on consumer spending. In August, real retail sales plunged by 8.8% and September is supposed to be just as bad with an 8.6% decline. South Africa South Africa’s recovery from Covid-19 has been slow and a weak global economy is not helping matters. The October PMI will be released on Thursday. The PMI is expected to rise slightly to 49.7, following a 49.2 read in September. A reading below 50.0 indicates contraction. Turkey Turkey will release the October inflation report on Wednesday. The Turkish central bank continues to slash interest rates, with a 150 basis point cut earlier in October. This policy has seen inflation soar to staggering levels that is more than 17 times the CBRT’s target rate.  CPI rose to a 24-year high of 83.4% in September, and the consensus for October stands at 85.6%. Switzerland Switzerland releases the October inflation report on Thursday. Inflation has been rising in Switzerland, which forced the central bank to raise interest rates by a massive 0.75% in September. Still, inflation is much lower than in the Eurozone or the UK. Headline CPI is expected to tick lower to 3.2%, down from 3.3% in September. China Strict anti-COVID measures are about to send China’s factory activity back  into contraction territory. The global growth outlook will struggle as China’s economy shows their recovery is struggling. Both services and manufacturing data are expected to weaken in October. Currency traders will pay close attention to the PBOC as they have set the yuan reference rate at the weakest levels since 2008. Authorities want a strong yuan, but defending it could prove costly.  They might need to consider narrowing the band. India India’s economy is losing momentum and the latest PMI readings might confirm that trend.  The growth outlook continues to get slashed and the current rate hiking cycle is starting to weigh much more on the economy. The RBI will have an an out-of-cycle meeting next week as the government urges them to get inflation back under 6%.  Traders should not be surprised if some RBI action occurs before the December 5-7th policy decision. Australia & New Zealand The focus is on the RBA policy decision. This meeting could have some added volatility as the general consensus leans towards a 25bp rate rise, but a half-point increase should not be ruled out.  Inflation remains hot and with the cash rate nowhere near inflation, the bank might feel more pressure to act aggressively. New Zealand’s third quarter Employment Change and Unemployment Rate data, due out next Wednesday (2 November), as an increase in employment and a decrease in unemployment will be beneficial to New Zealand’s economic growth. As the overall inflation level in New Zealand remains high, the money markets are pricing in either a half-point rise or 75- basis point rate hike at the RBNZ’s next interest rate meeting on November 23rd. Japan The Bank of Japan did not deliver any surprises. Both rates and the 10-year yield target did not have any changes. The yen remains a volatile trade and now the ball is in the Ministry of Finance hands. With momentum growing for the Fed to shift to a slower pace of tightening in December, Japan may try to be aggressive in defending the dollar-yen 150 level. Traders will also pay close attention to the minutes of the last BOJ decision. Singapore Singapore’s economy is weakening and the October PMI reading should show that the weakening trend continues. Traders will also pay close attention to the retail sales report for the month of September. Markets Energy Oil markets remain volatile as China ramps up COVID restrictions, some US oil giants signal modest commitments to boost production, and the global economic outlook continues to dim.  Next week, energy traders will get a better sense of how China’s economy is performing despite the COVID lockdowns that happened in October. OPEC will also announce their World Oil Outlook on Monday. Commodities broadly will also have a reaction to the FOMC policy decision and nonfarm payroll report. A dovish rate rise could allow for dollar weakness which could keep oil prices supported here.  If risk appetite remains healthy, WTI crude could continue to consolidate above the mid-$80s. Gold The bullish case for gold is improving as financial markets begin to grow optimistic that the Fed will begin the deliberation of a slower pace of tightening.  Gold could be on the verge of a major breakout if the FOMC decision is supported by the nonfarm payroll report at the end of the week.  Gold has initial support at $1640, with the line in the sand being $1,620.  The $1680 provides major resistance for gold, followed by the $1700 level. Cryptos Bitcoin is forming a trading around the $20,000 level as many investors await to see what happens with next week’s market reaction to the FOMC decision. What will also draw extra attention is the Hong Kong Fintech Week, that includes appearances from FTX’s Sam Bankman-Fried, but could contain more insight on how Hong Kong will provide guidelines on how retail crypto trading could be allowed. Binance CEO Zhao and Ark’s Cathy Wood will speak at the Web Summit in Lisbon. Economic Calendar Sunday, Oct. 30 Economic Data/Events: Brazilians vote in a presidential runoff election between Luiz Inacio Lula da Silva and incumbent Jair Bolsonaro. Daylight savings time ends in the UK EU trade ministers informal meeting in Prague Monday, Oct. 31 Economic Data/Events: Eurozone CPI, GDP Poland CPI Mexico GDP Australia retail sales China manufacturing and non-manufacturing PMI Japan industrial production, retail sales, housing starts South Africa trade balance Thailand trade UK mortgage approvals Danmarks Nationalbank conference, speakers include ECB Chief Economist Lane, Riksbank Governor Ingves, and Norges Bank Governor Wolden Bache Bank of Italy Governor Visco and Italian Finance Minister Giorgetti speak at a World Savings Day event. Nordic prime ministers meet in Helsinki for a Nordic Council meeting. Hong Kong Fintech Week: Speakers include FTX’s Sam Bankman-Fried, China Banking and Insurance Regulatory Commission’s Yuanqi and the Securities and Futures Commission’s Leung as speakers. OPEC launches its 2022 World Oil Outlook at the Abu Dhabi International Petroleum Exhibition and Conference. Russian President Putin meets the leaders of Armenia and Azerbaijan in the southern Russian city of Sochi. Tuesday, Nov. 1 Economic Data/Events: US construction spending, ISM manufacturing index, light vehicle sales RBA rate decision: Expected to raise rates by 15bp to 2.85% China Caixin Manufacturing PMI Canada Manufacturing PMI Czech Republic Manufacturing PMI India Manufacturing PMI Japan Manufacturing PMI, Vehicle Sales Mexico Manufacturing PMI Norway Manufacturing PMI Russia Manufacturing PMI South Africa Manufacturing PMI UK Manufacturing PMI Czech Republic GDP Macau casino revenue Mexico international reserves New Zealand building permits Denmark’s general election Riksbank Governor Ingves gives a speech on the economy and monetary policy, in Helsingborg. Web Summit conference; Speakers include Binance CEO Zhao and ARK Investment Management’s Wood Wednesday, Nov. 2 Economic Data/Events: FOMC Decision: Expected to raise rates by 75bps US MBA mortgage applications, ADP employment European Manufacturing PMI: Eurozone, France, Germany, Italy, Poland, Spain Australia building approvals Germany unemployment Japan BOJ minutes of Sept. meeting New Zealand unemployment, central bank Financial Stability Report Russia unemployment, retail sales EIA Crude Oil Inventory Report Bank of Ireland’s Financial System Conference: Speakers include Irish Central Bank Governor Makhlouf, Finance Minister Donohoe and Bank of France Governor Villeroy In Dublin. Thursday, Nov. 3 Economic Data/Events: US factory orders, durable goods, trade, initial jobless claims, ISM services index Bank of England Rate Decision: Expected to raise rates by 75bps to 3.00% UK services PMI Australia trade balance China Caixin services PMI Eurozone unemployment India S&P Global services PMI Italy unemployment Norway rate decision: Expected to raise rates by 25bps to 2.50% Russia services PMI Spain unemployment G-7 foreign ministers to meet in Munster, Germany German Chancellor Olaf Scholz visits China RBA’s Kearns speaks at the ASIC Annual Forum in Sydney. ECB’s President Lagarde and Elderson speak at Latvijas Banka Economic Conference 2022. ECB’s Panetta gives a keynote speech at ECB money market conference. BOE’s Mann speaks on a panel about inflation at an American Enterprise Institute web event. Friday, Nov. 4 Economic Data/Events: US October Change in nonfarm payrolls: 200Ke v 263K prior, unemployment Rate to tick higher to 3.6%, Average Hourly Wages European Services PMI: Eurozone, France, Germany, Italy, Spain Japan Services PMI Canada unemployment Eurozone PPI France industrial production Germany factory orders Singapore retail sales Spain industrial production Thailand CPI The UN’s Food and Agricultural Organization releases its monthly index of world food prices. ECB’s VP de Guindos gives a keynote speech at the Energy Prospectives session ECB President Lagarde gives a lecture on monetary policy in the euro area organized by Estonia’s central bank. Fed’s Collins speaks on macroeconomic conditions at a Brookings Institution virtual event. Sovereign Rating Updates: France (Fitch) Ireland (Moody’s) Norway (Moody’s) This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

The Ethereum Community Is Working On Various Solutions

Saxo Bank Saxo Bank 30.10.2022 11:51
Summary:  Following the Ethereum merge six weeks ago, we take a look at whether it has honored its promises. As expected, the merge has drastically decreased the issuance of Ether, however, it has also initiated fear over censorship of certain transactions on the Ethereum network. On the 15 September, the Ethereum merge occurred. At the merge, Ethereum’s consensus mechanism transitioned from computationally hungry proof-of-work to energy-friendly proof-of-stake. The merge was the most anticipated update of the Ethereum network since its inception, if not for all cryptocurrencies. Now, around six weeks later, the merge has impacted Ethereum positively but also in negative ways. Ethereum functions as before the merge The Ethereum merge occurred instantly and flawlessly without any interruptions to the network such as a network halt. This is positive for Ethereum’s ecosystem and for the world’s perception of the network. Likewise, for users and developers, the experience when interacting with the network is the same as before the merge. From 500,000 to 1,000 Ether As proof-of-stake demands much less computational power along with electricity, it can sustain a higher degree of security by compensating validators in proof-of-stake much less than miners in proof-of-work to verify transactions, also known as security cost. By lowering the security cost, the dilution of existing Ether holders is likewise reduced. Prior to the merge, the Ethereum network issued around 5.4mn new Ether yearly, whereas it currently issues between 600,000 and 700,000. As Ethereum burns the majority of paid transaction fees, its supply has nearly been fixed since the merge just as the amount of burned fees nearly offset newly issued Ether. Following the merge, the Ether supply has alone increased by around 1,000 Ether, whereas it would have increased by slightly more than 500,000 Ether without its transition to proof-of-stake. This is of much importance to Ether investors since they are now barely diluted. On the contrary, with proof-of-stake, they may choose to receive the newly issued Ether and the non-burned part of the transaction fees by being a staker. With only around 14.5mn staked Ether of the 120mn supply, being a staker entails a reward of up to 7% yearly. As such, Ether is now a non-diluting asset with a potential high yearly reward. This is in sharp contrast to before the merge, at which point Ethereum had inflation north of 3.5% with no compensation to investors because the inflation was paid to miners. This makes Ethereum more appealing to investors, particularly to non-crypto advocates, for whom Ethereum may serve as an example of how crypto can generate something similar to dividends. Still, validators are not yet able to withdraw from staking Ether. This prompts uncertainty and risk because investors have no clarity about when they will be able to withdraw from staking. While the risk is extremely minimal, the consequence must be mentioned. Ultimately, this implies that 14.5mn Ether can never be unstaked, possibly abolishing any faith in Ethereum. Taking into account that it may take a year until you can unstake Ether, this is a severe obstacle for Ethereum in the short term. Are we about to censor on the protocol level? The merge has made it conceivable that censoring of transactions on Ethereum’s protocol level could happen which is a concern. Following the merge, an increasing number of validators have outsourced the production of blocks to so-called MEV-boost (maximal extractable value) relays to increase staking rewards from non-burned transaction fees. By outsourcing block production to relays, validators may include transactions in its block that are not part of Ethereum’s public mempool, with the latter being the place, where transactions normally go prior to being verified and included in a block. Transactions that are not broadcasted to the mempool often include a much higher transaction fee, since the person in question is, for instance, executing arbitrage on decentralized finance protocols. By not broadcasting the transaction to a public mempool, it is assured that no one can front-run the original transaction before it is verified. However, the dispute with MEV-boost relays is that they are largely not yet properly decentralized. This means that the majority are subject to sanctions, so they are e.g., not allowed to include transactions from US-sanctioned mixer Tornado Cash due to Office of Foreign Assets Control (OFAC) sanctions. As we speak, 64% of blocks censor transactions by outsourcing block production to OFAC-compliant relays. At the time of the merge, purely 9% of all blocks were subject to OFAC sanctions. In the case that 99% of blocks will be OFAC-compliant in the future, it will not be impossible to execute non-OFAC-compliant transactions, however, it will take up to 20 minutes to verify such a transaction and likely be more expensive, ultimately leading to a worse user experience for those transactions. Although the present amount of transactions affected is very limited, the potential implication in the future is substantial. In the case that censorship gets more widely exercised on the protocol level and the intensity of sanctions increases, Ethereum is likely doomed to fail long-term. This is not about being against regulation but ensuring that Ethereum’s protocol level continues to be neutral and decentralized, which are the key selling propositions of any blockchain. If Ethereum can no longer guarantee neutrality and full decentralization, users and developers are likely to choose another blockchain that can. It must be stated that the Ethereum community is working on various solutions, for instance, by concealing the content of transactions, so validators cannot censor transactions to the same extent. After all, these solutions are likely years in the making, so this issue will not be solved in the near term.     Source: https://www.home.saxo/content/articles/cryptocurrencies/after-the-ethereum-merge-the-supply-is-stuck-28102022
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin: A Strong Doubt The Growth Of The Cryptocurrency

InstaForex Analysis InstaForex Analysis 30.10.2022 12:01
Bitcoin managed to leave the junior side channel of $18,500-$20,400 this week, but this does not change the essence since the higher side channel of $18,500-$24,350 remains, in which the price has been for four months. But what is important is to exit the descending channel on the 4–hour TF and consolidate above the trend line on the 24–hour. These two anchors allow the cryptocurrency to stay inside the side channel for as long as it wants, far from the narrowest. The cryptocurrency has grown by several thousand dollars after the fifteenth bounce from the $18,500 level. Still, we have repeatedly warned that bounces from this level can be used for small purchases, and growth is possible. It's just that while the price is located inside the side channel, it is impossible to count on trend movement. After all, we are interested in the trend, not movements within a limited price range. There will be several interesting events for bitcoin next week that may affect its value. First of all, this is the Fed meeting, at which, there is no doubt, rates will be raised again. Most likely, the rate will rise to 4%. Recall that any tightening of the Fed's monetary policy is a negative factor for all risky assets. Therefore, we will not be surprised if bitcoin drops back to the $18,500 level by the end of the week. As before, we do not see any prospects for the growth of the first cryptocurrency. There are simply no fundamental reasons for this. Of course, this does not mean that bitcoin cannot grow in principle. However, based on fundamental analysis, such a probability is small. Do not forget that bitcoin or any other cryptocurrency can grow because it is bought at a given time. And traders and investors can buy without any reason. Therefore, it is unnecessary to exclude "bitcoin" growth completely. But so far, its potential growth is limited to $24,350. If the quotes consolidate above this level, it will be possible to talk about forming a new "bullish" trend. Considering that bitcoin grew by 2 thousand dollars when Elon Musk bought Twitter, and after that, it stood still, we strongly doubt the growth of the cryptocurrency, even by 1-2 thousand dollars. For several months, "bitcoin" quotes have been unable to break through the $18,500 (127.2% Fibonacci) level in the 24-hour timeframe. Thus, we have a side channel, and it is unclear how much time Bitcoin will spend on it. We recommend not rushing to open positions. It is better to wait for the price to exit this channel and only then open the corresponding transactions. Overcoming the $18,500 level will open the way to the $12,426 level. Bounces from $18,500 can still be used for small purchases.   Relevance up to 10:00 2022-10-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/325706
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Cryptocurrencies In The Retirement Plans Of Millennials And Gen Z Generations

InstaForex Analysis InstaForex Analysis 31.10.2022 08:43
Crypto Industry News: As the global financial ecosystem continues to undergo major changes, young investors in the United States are increasingly leaning towards cryptocurrency assets as an alternative investment option to add to their retirement plans. A recent study by Charles Schwab, an American asset manager, of approximately 1,100 people who have 401 (k) retirement plans and are between the ages of 21 and 70, revealed a growing interest in digital assets. About 45% of millennials and 46% of Gen Z revealed they wanted to invest in cryptocurrencies when asked what investment products they would like to have added to their retirement plan. The study also found that 43% of Gen Z and 47% of Millennials have already invested in cryptocurrencies outside of their 401 (k) accounts. This considerable interest in cryptocurrencies among Gen Z and Millennials contrasted with the moods of much older investors - Gen X and baby boomers. According to the survey, only 31% of Gen X respondents and 11% of boomers want to invest in cryptocurrency assets under 401 (k) plans. Even more disappointing is the percentage of those older investors who already hold positions in the cryptocurrency market. 33% of Gen X admit to owning cryptocurrencies. From the boomer group, it is only 4%. The study also found that rising inflation remains the biggest barrier to retirement for all investors who continue to seek safer investment vehicles to hedge against difficult economic conditions. Technical Market Outlook: The BTC/USD pair has tested the highs of $21,017 again over the weekend, however no breakout was made. The market reversed again towards the demand zone located between the levels of $20,221 - $20,580 and broke below the 30 periods moving average. The last 9% strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back towards the intraday technical support seen at $20,21 is taking place.The momentum has hit the level of fifty already, so the lower level of the demand zone seen at $20,211 might be tested soon. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298989
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

A Local Pull-Back Has Been Seen In The Ethereum Market

InstaForex Analysis InstaForex Analysis 31.10.2022 08:50
Crypto Industry News: Merge, which is considered to be one of the most important Ethereum updates to date, immediately reduced the power consumption of the network by 99.9%. On September 15, Blockchain Ethereum switched from proof-of-work (PoW) to proof-of-stake (PoS) to turn into a greener Blockchain. The result was an immediate and sharp decline in the total energy consumption of the Ethereum network. Before the Merge update, in 2022, Ethereum's energy consumption ranged from 46.31 TWh to 93.98 TWh per year. The lowest energy consumption for Ethereum was recorded on December 26, 2019 and was 4.75 TWh per year. Ethereum's energy consumption has dropped by more than 99.9% since October 15, and is still very low. As a result, the network's carbon footprint is now 0.1 million tones of CO2 (MtCO2) per year. On a per transaction basis, the electricity consumption is just 0.03 kWh and the carbon footprint is 0.01 kgCO2, which is comparable to the energy used while watching YouTube for two hours. Despite the celebration of Ethereum's transition to PoS, community members have raised concerns about chain centralization and higher regulatory scrutiny. Technical Market Outlook: The ETH/USD pair has been seen making a local pull-back on the H4 time frame chart after the 24% rally hit the level of $1,663. The breakout was strong and might extend even higher as long as the pull-back will not drop more than 7% (price and time overbalance could be made if price drops more than 7%). The momentum on the H4 time frame chart is currently coming off overbought conditions and is approaching the level of fifty. The nearest technical support is seen at $1,513 and the level of $1,593 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/298991
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Fidelity's survey delivers us with interesting information about institutional cryptocurrency investments

Crypto.com Accelerate the... Crypto.com Accelerate the... 31.10.2022 10:16
Dogecoin rockets up 106%. Elon Musk acquires Twitter. Matter Labs releases second version of zkSync. Weekly Market Index Happy Halloween 🎃. Last week’s market prices, volume, and volatility were all up significantly at +12.3%, +97.1%, and +155.5% respectively.     Weekly Performance Bitcoin (BTC) reclaimed the $20K price level last week and was up +5.0%, while Ethereum (ETH) surged +16.1% and reached $1,600. Amongst other selected top-cap tokens, Dogecoin (DOGE) rocketed up +106.1%.     New Project Spotlight Aptos, a new Layer-1 blockchain, launched its mainnet. Aptos was created by ex-Meta developers and includes among its investors Andreessen Horowitz. In testing, Aptos claimed a transaction speed of 130K transactions per second (TPS), but upon launch was reported to have only 7 TPS, which is even less than that of the Bitcoin blockchain. The native token of Aptos is APT, which is available for trading on the Crypto.com App and Crypto.com Exchange. The initial total supply at mainnet launch was 1 billion tokens, with 30% distributed to the Aptos Foundation and private investors. Tokens held by private investors are subject to a 12-month lockup. News Highlights Crypto.com and the City of Busan in South Korea announced the signing of a Memorandum of Understanding (MoU) to collectively advance the blockchain industry. Crypto.com will also establish a workforce presence within Busan.  In other Crypto.com related news, the company is collaborating with A Story to develop a social NFT series called the “Extraordinary Whales Club”. It is based on the Korean drama Extraordinary Attorney Woo. Elon Musk, billionaire and CEO of Tesla and SpaceX, formally acquired Twitter for US$44B. The U.S. Fed’s preferred inflation gauge rises less than expected in September. The PCE (Personal Consumption Expenditures) Price Index, increased 0.3% in September, slowing from August’s 0.4%. Visa filed trademark applications related to digital wallets, non-fungible tokens, and the metaverse. This includes trademarks related to “use as a cryptocurrency wallet”, and “managing and verifying cryptocurrency transactions” amongst others.  Matter Labs released the second version of its Ethereum scaling platform, zkSync, a network that uses zero-knowledge rollup technology to bundle up transactions before sending them to the Ethereum blockchain. It aims to improve transaction speeds and reduce gas fees. 74% of institutions plan to buy crypto, according to a new survey by financial services giant Fidelity. Investors cited decentralisation, non-correlation to other assets, and the macro environment as reasons to get involved with digital assets. Recent Research Reports     Alpha Navigator (Sep 2022) Ethereum: The Merge Welcome to Web3 Alpha Navigator (Sep 2022): Crypto outperforming since the recent Fed interest rate hike. ETH derivatives could be indicating less caution with The Merge now in the rearview mirror. Some Layer-1 tokens show strong price momentum. Ethereum: The Merge: The Merge is finally complete. Energy consumption is expected to drop by 99.95%. It will not reduce gas fees or increase transaction speeds. More upgrades are incoming. Welcome to Web3: Identity, Soulbound Tokens, and Decentralised Society: Exploring the emergence of a blockchain-based, decentralised society through the lens of Web3 identities, Web3 domains, and soulbound tokens. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET MARKET PULSE Source: crypto.com
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

According To Peter Schiff, High Inflation Is The Result Of Cheap Money Policies

InstaForex Analysis InstaForex Analysis 01.11.2022 08:34
Crypto Industry News: According to Peter Schiff, the monetary policy of the US central bank will lead to a catastrophe. Schiff is an American economist, president of Euro Pacific Capital and economic advisor to Ron Paul - the 2008 presidential candidate. During the last episode of "The Peter Schiff Show" he described the effects of the Fed's monetary policy. Schiff says the current record high inflation is the result of years of "cheap money" policies, not a "late reaction" from the Federal Reserve and too late raising interest rates in the past two years. According to Schiff, all that is happening now is an accumulation of "misinvestments, misallocation of resources, monumental errors that have been committed across the economy by government, private sector, corporations, private individuals." In his opinion, former President George Bush was right to say that Wall Street got "drunk" on cheap money after the 2008 financial crisis, which led to many stupid investment decisions. "Why was everyone on Wall Street drunk? Where did they get their alcohol? Who got them drunk? It was the Federal Reserve. It was Alan Greenspan. He was a bartender. He was still serving drinks. That's why Wall Street was drunk" - continued Schiff. In his opinion, we are headed for a "real catastrophe". Other well-known investors, including Stanley Druckenmiller and Elon Musk, have made similarly pessimistic outlooks for the economy. The former said the recession is sure to come by the end of 2023, while the latter estimates the economy will not recover until spring 2024. Technical Market Outlook: The BTC/USD pair has tested the lows of the demand zone located between the levels of $20,221 - $20,580 and broke back above the 30 periods moving average. The last 9% strong up move has forced the momentum indicator to hit the extremely overbought conditions on the H4 time frame chart, so a pull-back is still taking place, however any violation of the local trend line might cause a rally toward sthe last swing high seen at $21,071. The momentum has broken above the level of fifty already, so the odds for an up move continuation are higher. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299167
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

The First Digital Indian Rupee (INR) Pilot Program | The Ethereum Is Currently Testing The Technical Resistance

InstaForex Analysis InstaForex Analysis 01.11.2022 08:41
Crypto Industry News: The Reserve Bank of India announced on Tuesday that it will launch the first digital rupee pilot program "to be used on a case by case basis", starting with the broadly understood wholesale sector. The wholesale sector includes financial institutions such as banks and interbank transactions such as securities settlement and inter-currency payments. The aim of the pilot program is to start testing the settlement of transactions on the secondary market on government securities. Central bank officials are testing whether the integration of the central bank's digital currency (CBDC) with the domestic financial system can help increase the efficiency of the interbank market and reduce the associated transaction costs. According to the bank, having a digital rupee system "would anticipate the need for a settlement guarantee infrastructure for collateral to reduce settlement risk." After the system has been tested, additional pilots will be launched to test other types of wholesale and cross-border payments using the knowledge gathered during the trials. A total of nine banks will participate in the pilot test, including State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC. Technical Market Outlook: The ETH/USD pair has made a 7% pull-back from the rally high located at $1,663. The market is currently testing the technical resistance located at the level of $1,571 and in a case of a breakout, the next target is the rally high. The momentum on the H4 time frame chart had bounced from the level of fifty and points to the upside already. The nearest technical support is seen at $1,513 and the level of $1,593 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299169
Now The Ethereum Market Is On The Monthly Highs Trying

Vitalik Buterin's Statement That Crypto Is Better Than Gold

InstaForex Analysis InstaForex Analysis 02.11.2022 08:51
Crypto Industry News: As digital assets continue to fight crypto after a massive sell-off across the crypto space, Ethereum co-founder Vitalik Buterin said crypto is still a better investment than gold. Many industry pundits expected gold to do much better amid stubbornly high global inflation. However, the precious metal has been under pressure from the strong US dollar and higher government bond yields, which are rising in light of the aggressive tightening policy pursued by the Federal Reserve. In a recent tweet, Buterin criticized gold as a decentralized asset touted as a replacement for traditional money, stating that cryptocurrency is a better investment option. Co-founder Ether said gold is "incredibly inconvenient", "difficult to use" and "doesn't support secure storage options like multisig." Buterin said the precious metal is especially difficult to deal with "transactions with untrusted parties." According to him, "gold has less adoption than crypto, so crypto is a better option." Buterin's comment was in response to New York Times bestselling author Soonish, Zach Weinersmith, who questioned the superiority of cryptocurrencies over gold. Weinersmith asked why not choose gold, looking for an alternative to centralized power for money. The discussion on the size of cryptocurrencies in relation to gold has been going on since Bitcoin's debut in global salons. And it was not finally settled by either party. Gold supporters hold out bravely, and central banks around the world prefer to accumulate gold in vaults over Bitcoin. Buterin seems to have forgotten one big advantage of gold over BTC. Gold can be transferred without a trace, but not Bitcoin. Technical Market Outlook: The ETH/USD pair has made a 7% pull-back from the rally high located at $1,663. The market keeps trading below the technical resistance located at the level of $1,594 and below the local trend line as well. The momentum on the H4 time frame chart has broken below the level of fifty and points to the downside. The nearest technical support is seen at $1,513 and the level of $1,594 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299348
Bank of England survey highlights easing price pressures

The Bank Of England (BoE) Starts Selling Bonds | Airbnb Down, Sony Up

Swissquote Bank Swissquote Bank 02.11.2022 11:50
Jay Powell will probably hammer the dovish hopes, and the latest risk rally when he speaks following the FOMC decision today. Fed In preparation for an unpleasantly hawkish Fed statement today, the US 3-month yield spiked above the 4.20% mark, the level it was normally supposed to be in 18 months, the 2-year yield returned above the 4.50% mark, the US dollar index advanced and the US equities sold off, as yields jumped. The ADP report is due a couple of hours before the Fed decision, and is expected to have eased below 200’000 in October. Any positive surprise will likely further boost the Fed hawks, and dampen the mood in risk assets. China In China, stocks extend gains on an unverified social media post that China will end its Covid measures. The Chinese foreign ministry spokesman said he was unaware of the plan. Disneyland in Shanghai was shut with people in it, after a Covid case was found in the park… I wouldn’t cry victory just yet! UK In Britain, the first day of bond selling from the Bank of England was a success. The BoE sold 1$750 million worth of bonds, demand exceeded offer, gilt yields pulled lower and sterling was steady. Airbnb Airbnb fell 5% post-market on disappointing Q4 outlook, Sony jumped near 10% in NY as softer yen helped boosting sales, BP announced the second biggest quarterly results, while Abiomed jumped 50% after Johnson & Johnson announced to buy the company. Watch the full episode to find out more! 0:00 Intro 0:18 Will Powell save the risk rally? 2:22 Market update 4:17 Oil stocks extend rally, BP announce strong profits 5:45 Airbnb down, Sony & Abiomed up 7:11 BoE starts selling bonds successfully 8:42 EUR, XAU faith in Powell’s hands… Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #FOMC #rate #decision #USD #ADP #US #jobs #report #crudeoil #ExxonMobil #Chevron #BP #China #covidzero #UK #QT #GBP #BoE #Sunak #EUR #XAU #Sony #Abiomed #JohnsonJohnson #Airnbn #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___  Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH      
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

zkSync 2.0 "Baby Alpha" released, HUSD to be delisted, Team Finance - exploit voided $15 million in tokens

Crypto.com Accelerate the... Crypto.com Accelerate the... 02.11.2022 11:55
zkSync launches ‘Baby Alpha’ on mainnet. Arco Protocol goes offline, asks community for confidence vote. Huobi’s HUSD stablecoin depegs after it’s delisted from the exchange. Weekly DeFi Index This week’s market cap and volume indices were positive at +6.28% and +40.62%, respectively, while the volatility index was negative at -21.97%.         Stablecoin issuer Frax Finance (FXS) unveils Ether staking service with a dual token model. The liquid staking system has three components: frax ether (frxETH), staked frax Ether (sfrxETH) and the Frax ETH Minter. Users can deposit ETH into Frax ETH Minter to get frxETH; however, to earn staking rewards, they would need to exchange frxETH with sfrxETH. This mechanism is quite different from Lido, another ETH staking protocol which only introduces one token (stETH). Project Spotlight Crypto.com signed an MOU with game software development studio ACT Games to collaboratively promote blockchain-based games. The two companies plan to utilise ACT Games’s IP and Crypto.com products to release games on the Cronos blockchain, provide Crypto.com Pay as a payment solution, and adopt the Crypto.com DeFi Wallet for ACT Games’s blockchain-based projects. Crypto.com Capital recently announced its support of Souffl3, a leading NFT marketplace launched on the Aptos blockchain. Souffl3 has completed a US$2 million seed round co-led by Crypto.com Capital and Synergis Capital, and the funds will be used to build a “next-generation NFT experience for creators, builders, and traders”. Brave announced the latest round of partners who joined its Wallet Partner programme in October. Through this programme, Brave’s native crypto wallet now features integrations with several Cronos projects, including Cronos ID, Minted, Ferro Protocol, and VVS Finance, and aims to help organically drive greater adoption of Cronos.         News Highlight Matter Labs released the ‘Baby Alpha’ phase of zkSync 2.0 on the mainnet, which is described as the first ‘product-ready’ scaling solution that is natively compatible with Ethereum. This initial phase will focus on stress-testing and implementing security efforts to the network.  Arco Protocol, a DeFi platform launched on the Aptos blockchain, has gone offline following failed fundraising efforts via an initial DEX offering (IDO) and the loss of key partnerships. It later asked for a community vote through a Twitter poll, and the majority of respondents have requested refunds.  Huobi announced that it would delist its native stablecoin HUSD from the exchange and  help its users convert their HUSD into USDT. HUSD then depegged from the U.S. dollar and is down 70% days after the announcement.  Team Finance temporarily paused all activity on its network after suffering a malicious exploit that drained $15.8 million worth of tokens from the protocol. According to blockchain data analytics company Peckshield, the hacker only required 1.76 ETH ($2,700) to execute the attack.  On 1 November, Lightning Network released an ‘emergency hotfix release’ to all LND node operators on its network. This was after a bug caused the LND nodes to stop syncing, preventing them from parsing certain transactions, and is the second critical bug discovered in less than a month. Recent Research Reports     Unleashing the Potential of Web3: A More Viable, Responsible and Inclusive FutureWeb3 promises a new era for the Internet of Value. Blockchain technology is a key enabler of Web3, and could help to bring about a more viable, responsible and inclusive future. NFT Financialisation and Utility: An OverviewAs NFT utility grows, so does the potential to make money from them. Financialisation could help to achieve greater liquidity for and unlock the value of NFTs. NFT Utility: A Multifaceted Overview and Use CasesFor NFTs to increase in value and be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI Source: crypto.com
Powell's Statements On The Future Policy Of The Fed Will Help Bitcoin

Powell's Statements On The Future Policy Of The Fed Will Help Bitcoin

InstaForex Analysis InstaForex Analysis 02.11.2022 14:15
The events of the previous trading week indicate that buyers have begun to return to the cryptocurrency market. Bitcoin and major cryptocurrencies have gone beyond the consolidation channels and are moving towards local highs. There is a recovery of on-chain metrics of daily trading volumes and activity of unique addresses in the BTC network after a decline over the weekend. This is an important signal of growing buying activity and the desire to continue moving upward. Fed meeting On November 2, an important meeting of the Fed is expected, where the markets can hear key theses about the future policy of the regulator. Over the past few months, the uncompromising position of the Fed has led the markets to expect a recession in the US economy in the next six months. At today's meeting, investors want to hear signals from the regulator about a change in current policy. In anticipation of the meeting, Morgan Stanley experts noted that the money supply in the markets has declined significantly. This means that in the coming months, inflation will begin to decline rapidly. If the Fed comes to a similar conclusion, it will fuel another upward spurt for cryptocurrencies and stock indices. At the same time, it is expected that the key rate will again be raised by 75 bps, but this decision is already included in the price. The state of the markets before the Fed meeting The main stock index S&P 500 has reached a resistance zone near the $3,900 level. Over the past five days, a clear dominance of the bears is visible, and the technical metrics on the daily timeframe are gradually turning sideways. This means that the SPX has lost its local bullish momentum. The US dollar index locally recovered to the level of 111, but subsequently, the buying activity decreased. The stochastic oscillator has formed a bearish crossover, which indicates the dominance of sellers. Overall, the DXY is dominated by selling with sluggish attempts by the bulls to even out the situation. The correction of the US dollar index continues, which is a positive signal for BTC. Local bottom not formed? Glassnode analysts said in a weekly report that there are no signs of a local market bottom forming. It is likely that in the near future, Bitcoin will need an additional "redistribution" phase, during which large amounts of BTC will pass into the hands of long-term owners. For the market, this means an increase in volatility and impulsive price movements in order to knock out investors' positions. There is already growing volatility in BTC, which will break the asset's correlation with gold and make the cryptocurrency more unpredictable. In addition, daily BTC trading volumes on exchanges reached $543 billion. This value is the lowest since December 2020. Increased volatility and low trading volumes are ideal conditions for an additional stage of "redistribution," so active trading in the market will become more dangerous in the near term. BTC/USD Analysis Given the data from Glassnode, one can conclude that massive amounts of liquidity below the $17.6k level will be collected. As of November 2, Bitcoin is trying to gain a foothold above the downward trend line at $20.4k. After the Fed meeting, there will be a surge in volatility that can send the price in any direction. In the next few days, it will become clear whether BTC is ready for further upward movement or to retest the local bottom. An increase in the key rate and Powell's statements on the future policy of the Fed will help Bitcoin either gain a foothold above $20.4k. This will allow the cryptocurrency to continue its bullish move to the $22k level. If it finally consolidates below $20k, the price will head towards the $19.5k support zone and continue its downward movement towards the current market bottom.     Relevance up to 10:00 2022-11-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326032
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

The crypto market is ready to move up to the next step

Alex Kuptsikevich Alex Kuptsikevich 02.11.2022 09:40
Market picture The crypto market capitalisation has fallen by around 1% in the past 24 hours to $1.02 trillion, with Bitcoin losing around the same amount, trading at $20.4K. There is a wait-and-see attitude on the part of investors ahead of the Fed meeting, where all eyes are on signals of further actions. Meanwhile, BTCUSD remains above its 50-day average and local highs from a month ago, creating expectations that the market is preparing to go to the higher step after some respite. The following significant levels are around $22.3K (September highs) and $24.3K (July-August highs and the 200-day MA). If the optimists are disappointed, the decline could accelerate markedly below $19.5K (50-day MA) and further below $19K (the global support area of the last five months). For the time being, we are leaning more towards the upside scenario, assuming we see signs of a slowdown in rate hikes from the Fed starting in December. News background According to Santiment, addresses with balances between 100 and 10,000 BTC have accumulated over 45% of the total cryptocurrency supply. HODLers are not getting rid of accumulated coins yet, but they are not resuming buying either, so the BTC exchange rate has stagnated in recent months. SEC head Gary Gensler congratulated the cryptocurrency community on the 14th anniversary of bitcoin's "whitepaper". This prompted a mixed reaction from users. Many of them accused Gensler of trolling and hypocrisy that he doesn't think about the development of the cryptocurrency industry. Binance CEO Changpeng Zhao said he invested $500 million in Twitter to fix flaws hindering the project’s development and the introduction of crypto payments to the social network. According to him, Twitter is poorly monetised and has many technical problems, such as bots. However, despite the shortcomings, the platform has tremendous value.
The G20 And IMF Are Already Preparing Their Crypto Regulation

Cryptocurrency whitepaper explained by Binance Academy

Binance Academy Binance Academy 02.11.2022 15:12
TL;DR A cryptocurrency whitepaper enables projects to explain their products and goals to their audiences. Projects can freely choose what kind of information they want to provide, but whitepapers usually include an overview of the project’s goals, tokenomics, products, features, and information about the team. As such, whitepapers can be a good place to start when doing research on a specific project. Introduction A whitepaper summarizes, in a single document, the important information related to a blockchain or cryptocurrency project. It’s a popular way of explaining how a certain project works and what problems it’s aiming to solve. Learn more on Binance.com What is a whitepaper? Generally, a whitepaper is a report or guide that informs its readers about a specific topic or issue. For example, developers can create a whitepaper about their software to educate users on what they are building and why. In the blockchain space, a whitepaper is a document that helps outline the main features and technical specifications of a specific cryptocurrency or blockchain project. Although many whitepapers are focused on a coin or token, they can also be based on different types of projects, such as a decentralized finance (DeFi) platform or a play-to-earn game. A whitepaper may provide an overview of essential data in the form of statistics and diagrams. Also, a whitepaper could explain the governing structure of the project, who’s working on it, and the current and future development plans (i.e., their roadmap). However, there's no official way to make a whitepaper. Each project creates a whitepaper that fits its conditions best. Optimally, the whitepaper should be neutral and informative to clearly depict the project and its goals. Users should always be cautious with whitepapers that present persuasive language and projects that promise too much without giving enough information. Cryptocurrency whitepapers are often thought of as business plans for crypto projects. It's because they provide investors with a comprehensive project overview. But, unlike business plans, whitepapers are usually released before the cryptocurrency launch. So, a whitepaper is often a starting point in which a crypto project lays out the direction and intention of its idea. What information can you find in a whitepaper? Founders make whitepapers to provide an understanding of the goal of their project. For example, Bitcoin's whitepaper says: "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution." While Ethereum's whitepaper describes its goal in the following way: "The intent of Ethereum is to create an alternative protocol for building decentralized applications." Whitepapers often give an idea about the real-world utility of the crypto project. For example, it could describe how it solves a specific problem or how it can improve certain aspects of our lives. Nevertheless, it's important to stay cautious about the promises. It's not a hard task to create a whitepaper. For example, the Initial Coin Offering (ICO) boom of 2017 gave rise to thousands of tokens with "innovative" ideas, but most projects failed to deliver. As a rule of thumb, remember that just attaching a cryptocurrency to a use case doesn't signify that it will be adopted and used. So, in addition to goals and promises, whitepapers can also show how the cryptocurrency will really work. For example, one of the things it could explain is what kind of consensus mechanism it uses to allow network participants to coordinate in a distributed way. A whitepaper could also give an in-depth look into tokenomics components, such as token burns, token allocations, and incentive mechanisms. Finally, a whitepaper could contain a roadmap informing users about the project timetable so that they would know when to expect the product releases. Whitepapers are often designed to be straightforward so that anyone can read them and get at least the basic idea about the cryptocurrency or blockchain project. However, a good whitepaper will also give technical explanations to confirm the project’s competence. Why are whitepapers important? Whitepapers are important for the crypto ecosystem. Even though there are no standards for creating them, whitepapers have become a framework for researching crypto projects. It's a general recommendation to start crypto research by reading the project's whitepaper. Users can use whitepapers to identify potential red flags or promising projects. In addition, they enable users to monitor if a project is sticking to its original plans and goals. Whitepapers can provide transparency and equality by making the project's key information public. Various parties can benefit from whitepapers. For example, while investors can make better investment decisions using them, developers can decide on their possible participation in the protocol. Similarly, a person interested in the idea can decide more confidently if he wants to join a particular community after reading it. Examples of whitepapers Bitcoin whitepaper The bitcoin whitepaper was published in 2008 by an anonymous individual or group known as Satoshi Nakamoto. The Bitcoin whitepaper is called "Bitcoin: A Peer-to-Peer Electronic Cash System." The whitepaper outlines how people could use Bitcoin as a more efficient form of money outside the traditional banking model. It gives technical explanations of how the Bitcoin network allows users to send digital currency on the peer-to-peer network without intermediaries. The whitepaper also explains how the Bitcoin network is protected against censorship and double-spending attacks. Ethereum whitepaper A young programmer called Vitalik Buterin published the Ethereum whitepaper in 2014. But, even before it, Vitalik proposed the idea of the whitepaper in 2013 in a blog post, "Ethereum: The Ultimate Smart Contract and Decentralized Application Platform." The post presented the idea of a Turing-complete blockchain, which is a type of decentralized computer that can run any application if given enough time and resources. The Ethereum whitepaper explains how its purpose differs from that of Bitcoin. Whereas Bitcoin has a specific function to provide digital peer-to-peer payments, the Ethereum whitepaper presented a platform that would enable developers to build and deploy all kinds of decentralized applications (DApps). This could be, for example, another cryptocurrency or a decentralized lending platform. The whitepaper also explains the technological solutions that made Ethereum possible, such as smart contracts and the Ethereum Virtual Machine. Closing thoughts Optimally, a whitepaper should provide you with a necessary understanding of what the cryptocurrency project plans to do and how. However, whitepapers are not regulated, and practically anyone can write one. So, if you are interested in a certain project, it’s important to analyze their whitepaper carefully, considering the potential red flags and risks. Further reading The Psychology of Market Cycles What Is an NFT? What Is GameFi and How Does It Work? Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment can go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.
Stablecoins Could Be Used As A Way Of Storing Capital

The Polymesh Team Is Also Working On Stablecoin Infrastructure

Binance Academy Binance Academy 02.11.2022 15:26
TL;DR   Polymesh is a public permissioned layer 1 blockchain focused on improving the security token industry. Using its utility token POLYX, it rewards and fines actors in the blockchain ecosystem accordingly to increase blockchain security. POLYX also facilitates governance and staking within its ecosystem. Introduction   Securities are tradable financial instruments that hold real-world value. By tokenizing securities, the securities market — which is worth hundreds of trillions — has the potential to grow even more. This could improve the market’s efficiency and transparency, among other benefits.  Tokenized securities, or security tokens, are issued on blockchains such as Polymesh, which is an institutional-grade blockchain built specifically for regulated assets like security tokens.  Learn more on Binance.com What is Polymesh? Polymesh is a layer 1 public permissioned blockchain built for security tokens, which  are digital contracts for fractions of assets that hold real-world value.  As a public permissioned blockchain, anyone can view the network. However, you must complete an identity verification process to participate in it. This verification process applies to all actors on the chain, from issuers and investors to stakers and node operators.  Node operators in particular must be permissioned and licensed financial entities. This increases network security, since these entities face greater reputational risk than unidentifiable actors.  Polymesh enables market participants to enjoy the unique benefits of private and permissionless networks, offering trust in the network without compromising on transparency. How does Polymesh work?   Node operators and stakers work together to secure the layer 1 blockchain and validate blocks.  Node operators who successfully validate blocks are rewarded in POLYX, Polymesh’s utility token. Stakers stake their POLYX on node operators to increase the latter’s chance of being selected for the validator pool every 24 hours. After node operators collect a commission of up to 10%, stakers will receive POLYX. Securing Polymesh Polymesh employs a Nominated Proof-of-Stake (NPoS) consensus model, which was developed by Polkadot, to define the network's roles, rules, and incentives. This system is designed to help increase the blockchain’s security, as it makes harmful behavior costly and difficult to execute. Through this mechanism, node operators and stakers are rewarded or fined in POLYX, according to their performance.  Polymesh’s fee structure Many public permissionless blockchains have a fee market, where fees can vary greatly in a matter of seconds. For instance, if users compete for space on the blockchain to run code or store data (i.e., the blockspace), this would likely incur higher fees. Polymesh keeps transaction costs low and consistent by basing fees on the on-chain weight (in bytes) and complexity of the transaction, with Polymesh Governance having the authority to adjust the rate. Polymesh Governance is a democratic system consisting of a council of key stakeholders, the Polymesh Governing Council, and POLYX holders.  The Polymesh Governing Council sets and charges protocol fees for certain native functions, such as reserving a token ticker. Fee payment is split at a 4:1 ratio between the Network Treasury — maintained by Polymesh Governance — and node operators. Network Treasury funds are typically used for improving or securing the network.  What makes Polymesh unique?  Polymesh is one of the few layer 1 blockchains built for security tokens. Currently, most securities-focused projects are layer 2 initiatives built on pre-existing blockchains like Ethereum or Solana. Polymesh, however, is a standalone layer 1 blockchain. With its infrastructure, Polymesh hopes to improve the security token industry by solving governance, identity, compliance, confidentiality, and settlement challenges.  Governance  Built on the Substrate framework, Polymesh takes advantage of seamless upgrades to offer forkless architecture, so there will only ever be one version of the chain. An on-chain governance model featuring a council of key stakeholders can easily resolve any issues. Identity  Unlike most public blockchains that allow anyone to participate, Polymesh’s mandatory identity verification process generates an on-chain identity for every individual or entity participating in the network. On-chain interactions can be traced back to known, real-world entities. Compliance The ability to create and manage security tokens is built into the base layer of the blockchain. Additional characteristics like compliance and rules are optional and can be automated and enforced at the token level via smart contracts. Confidentiality Polymesh’s protocol MERCAT (Mediated, Encrypted, Reversible, SeCure Asset Transfers) enables confidential asset issuance and transfers. Users can maintain trade privacy, while Polymesh does not have to sacrifice compliance or transparency.  Settlement Instant settlement is possible for both on- and off-chain assets through Polymesh’s on-chain settlement engine, two-way transaction affirmation, and near-instant deterministic finality. What is POLYX?   POLYX is Polymesh’s native token. It is classified as a utility token under Swiss law, based on guidance from Swiss financial regulator FINMA. POLYX is used for governance, securing the chain through staking, and creating and managing security tokens. Governance  Governance is facilitated through Polymesh Governance. Any verified POLYX holder can influence Polymesh’s direction in two ways: submitting a Polymesh Improvement Proposal (PIP) or voting using POLYX. To submit a PIP, a user has to bond POLYX to it using Polymesh Governance. Once approved, PIPs are voted on by the Governing Council for implementation.  Staking  Any verified POLYX holder can participate in staking by bonding POLYX to a node operator of their choice to increase that operator’s chance of receiving rewards.  The Polymesh ecosystem Existing participants in Polymesh’s ecosystem include cryptocurrency exchanges, experienced players in the tokenization space (Polymath), and companies with sizable security token portfolios (RedSwan). The Polymesh Association aims to encourage further development through two programs:  The Grants Program for individuals and businesses building open-source functionality on Polymesh. The Ecosystem Development Fund for businesses with closed-source technology that integrate Polymesh. There is a wealth of information available for developers who want to integrate Polymesh, including the Polymesh SDK library and dedicated support channels for the community. How to buy POLYX on Binance?   You can buy POLYX on cryptocurrency exchanges like Binance.  1. Log into your Binance account and go to [Trade] -> [Spot].  2. Type “POLYX” in the search bar to view the available trading pairs. We will use POLYX/BUSD as an example. 3. Go to the [Spot] box and enter the amount of POLYX you want to buy. In this example, we will use a market order. Click [Buy POLYX] to confirm your order, and the purchased POLYX will be credited to your Spot Wallet. Closing thoughts   To build an improved security token space, the Polymesh team is also working on other areas, including stablecoin infrastructure, non-fungible token (NFT) implementation, confidentiality via the MERCAT protocol, and user onboarding.
Bitcoin Is Showing A Good Sign That Buyers Are In Control

Bitcoin Investments: MicroStrategy Announced A Reduction In The Level Of Losses

InstaForex Analysis InstaForex Analysis 03.11.2022 09:10
Crypto Industry News: MicroStrategy, the largest corporate bitcoin holder, announced a reduction in the level of losses resulting from investments in BTC in the third quarter of 2022 Michael Saylor assures that the company plans to continue purchases and HODLing of the largest cryptocurrency. The 2022 third quarter earnings report for MicroStrategy revealed a narrowed loss on bitcoin investment of $ 27.1 million. The technology giant is constantly buying BTC despite the prevailing downturn. The company announced at the end of the third quarter of 2022 that it currently owns 130,000 BTC. This amount is also 0.62% of all BTC owned by investors. The company said the total cost of investing in the digital asset is $4 billion. The average price at which MicroStrategy acquired the largest cryptocurrency was $30,639. On November 1, the company reported impairment write-offs for the third quarter in the amount of $727 000. This figure is significantly less than the $917.8 million recorded in the second quarter of 2022, or the $65 million recorded in the previous year's third quarter. An impairment loss is used in accounting to describe a decline in the value of assets held by businesses. Technical Market Outlook: The BTC/USD pair made a false breakout above the local trend line, reversed and is moving lower. It is worth to mention, that any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 08:00 2022-11-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299531
Scottie Pippen (Basketball Player) Received A Personalized NFT

MoneyGram Allows Users To Access Bitcoin (BTC), Ethereum (ETH) And Litecoin (LTC)

InstaForex Analysis InstaForex Analysis 03.11.2022 09:14
Crypto Industry News: MoneyGram International, a global peer-to-peer payment company, announced the launch of a new service that allows US users of the MoneyGram mobile app to buy, sell and store cryptocurrencies. Users can use the MoneyGram app to access Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The company indicated that it intends to add support for additional tokens in 2023. It also signaled that it will seek expansion into markets, which is allowed by global regulations. This announcement is the latest cryptocurrency initiative adopted by the company as part of its vision to increase cryptocurrency adoption by reviving "real-world cryptocurrency and blockchain use cases." Technical Market Outlook: The ETH/USD pair has made a 10% pull-back from the rally high located at $1,663 and keeps going lower. The market keeps trading below the technical resistance located at the level of $1,594 and below the local trend line. The bulls tried to rally, but made only a false breakout above the local trend line and the market reversed lower. The momentum on the H4 time frame chart has broken below the level of fifty and points to the downside. The nearest technical support is seen at $1,513 and the level of $1,594 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.       Relevance up to 08:00 2022-11-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299533
Bitcoin Has Made A Dynamic And Aggressive Reversal

It seems yesterday's Fed activity didn't make Bitcoin lost a lot. MoneyGram collabs with Coinme

Alex Kuptsikevich Alex Kuptsikevich 03.11.2022 09:43
Cryptocurrency market capitalisation increased a bit Bitcoin is trading near $20.3K – just 0.5% below levels of a day ago, although the range of fluctuations during this time has been quite significant. The initial reaction to the Fed's official comment sent BTC to $20.8K, but the press conference that followed put double the pressure on the exchange rate, forcing it to touch $20K. The crypto market has shown much more resilience to stock market distresses, adding 0.13% overnight to $1.01 trillion. Some pressure on Bitcoin and Ether, firmly tied to institutional sentiment, is balanced by altcoins shooting up one by one. In addition to Dogecoin doubling in price in just over a week, the rallying coins included Litecoin (+13% over 24h) and Polygon (+15% so far today). Crypto investors are tired of the year-long bear market and seem open to new ideas for a pump. This could signal that the market is sufficiently cheap and rested. UnionBank partners with Metaco Bitcoin's hash rate has set a new high, likely due to big energy players entering the industry, suggested Charles Edwards, founder of Capriole Investments. According to him, the rise in hash rate amid BTC stagnation doesn't look like miners are capitulating. According to Glassnode, the first cryptocurrency's network processing capacity was 272.4 EH/s as of November 1 (smoothed by the 7-day moving average). Stablecoins are increasingly used as collateral in DeFi services. This is according to a report from CoinMarketCap and TokenInsight. Among DeFi-ecosystems, Ethereum continues to dominate by a wide margin. Money transfer service MoneyGram has partnered with exchange Coinme to launch trading and storage options for Bitcoin, Ethereum and Litecoin in its mobile app for US users. UnionBank, the Philippines' largest bank, has announced the pilot launch of Bitcoin and Ethereum trading and storage services. The initiative is implemented in partnership with Swiss custodian Metaco.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Cryptocurrencies Are The Dominant Methods Of Financing Terrorism

InstaForex Analysis InstaForex Analysis 04.11.2022 09:21
Crypto Industry News: Terrorists finance their activities with cryptocurrencies, warn UN officials According to UN officials, cash and hawala remain "the dominant methods of financing terrorism." However, "advanced" terrorist organizations are turning to cryptocurrencies. According to Svetlana Martynova, the United Nations (UN) Coordinator for Counter-Terrorist Financing, terrorist groups that have been excluded from the "formal financial system" have turned to harness the power of cryptocurrencies to fund their activities. A UN official made comments during a speech at a "Special Meeting" organized by the UN Counter-Terrorism Committee (CTC) in New Delhi and Mumbai on October 28-29, which focused on combating the use of "new and emerging technologies" for terrorist purposes. Martynova said cash and hawala - the traditional money transfer system in Arab and South Asian countries - are the "dominant methods" of financing terrorism. Martynova noted that new technologies of interest to terrorist organizations include cryptocurrencies that have been used to "create opportunities for abuse," she said, adding: "If they are excluded from the formal financial system and want to buy or invest in something anonymously, and are advanced at it, they will likely be abusing cryptocurrencies". Technical Market Outlook: The BTC/USD pair rebound again from the demand zone and is trying to break through the local trend line located around the level of $20,800. The momentum broke above the level of fifty already, so the bulls are trying hard to resume the recent rally. The target is seen at the level of $21,017. It is worth to mention, that any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $20,969 WR2 - $20, 737 WR1 - $20,585 Weekly Pivot - $20,489 WS1 - $20,346 WS2 - $20,252 WS3 - $20,014 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 09:00 2022-11-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299715
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

Instagram Will Enable The Sale Of NFT | The Ethereum Has Been Seen Bouncing

InstaForex Analysis InstaForex Analysis 04.11.2022 09:26
Crypto Industry News: The social media giant - Instagram - announced that as part of its partnership with Polygon, it will launch a market dedicated to trading in non-exchangeable NFT tokens. The marketplace will allow users to mint and sell the tokens they have created. Instagram joins forces with Polygon On Thursday, November 3, the social media giant announced that it would soon enable its users to mint NFT tokens on its platform. The platform will also launch a dedicated market for trading this type of tokens. Initially, Instagram will allow NFT to be sold through its app. Later, users will be redirected to an external market where they can sell their digital works. Moreover, Instagram will release a new toolkit that will aim to help users navigate the newly launched market. They will be used to knock out and sell NFT. As part of this, the platform joined forces with Polygon, a network that scales transactions taking place in the Ethereum blockchain. Technical Market Outlook: The ETH/USD pair has been seen bouncing from the technical support located at $1,513, but the bulls keep trading below the technical resistance located at the level of $1,594 and below the local trend line. The momentum on the H4 time frame chart has broken above the level of fifty, so the bullish attempt to break out higher is being supported by the momentum increase. The first target for bulls is seen at %1,663. The nearest technical support is seen at $1,513 and the level of $1,594 will now act as the intraday technical resistance. Weekly Pivot Points: WR3 - $1,647 WR2 - $1,1612 WR1 - $1,596 Weekly Pivot - $1,578 WS1 - $1,561 WS2 - $1,543 WS3 - $1,509 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299717
Bitcoin Is Showing A Good Sign That Buyers Are In Control

Turmoil In The Financial Markets Can Restore The downward Trend For Bitcoin

InstaForex Analysis InstaForex Analysis 04.11.2022 10:58
How long will the crypto winter last? The decline in venture funding and history say one thing, the US midterm elections and the decrease in the correlation of crypto assets with US stock indices say another. Such is the market. There can be no single opinion. Not everyone can be winners at once. There will always be people who have lost money. Our task is not to be among them. According to JP Morgan research, the volume of venture capital financing in crypto assets in the third quarter collapsed to $4.4 billion, which is more than an annual minimum. According to the bank, this is a disturbing development, indicating a loss of interest in the crypto industry. Most likely, the decline in BTCUSD in July–August was not a purely seasonal event, as previously assumed. Dynamics of Venture Funding in the Crypto Industry The bitcoin bear market is not over yet, CryptoCompare also says. The research company draws attention to previous downward trends: in 2013 and 2017, the value of the token decreased by 83% and 87%, while the fall lasted 364 and 406 trading days. Currently, the drawdown is 73%, and the decline in BTCUSD quotes continues for 357 days. According to CryptoCompare, some kind of event will happen in the near future that will provoke a serious turmoil in the financial markets and restore the downward trend for bitcoin. S&P 500 and Bitcoin during bear markets At the same time, the stability of the leader of the cryptocurrency sector to factors that were previously among the main drivers of changes in BTCUSD quotes suggests that investors are looking for new assets and find them in the digital sphere. Indeed, if US stocks collapsed in response to Jerome Powell's announcement that the peak federal funds rate will be higher than currently assumed, then bitcoin held its own. It quickly regained lost positions and is set to return to the local peak of 21,000 that emerged at the end of October. Such dynamics of the token led to a decrease in its 30-day correlation with the Nasdaq Composite to 0.26, the lowest level since the beginning of January. The connection of 0.75 and above, which has been observed throughout most of the year, is considered strong, and in May and September it approached the ideal values of 0.93 and 0.96. When most of the speculators, dissatisfied with the fall in volatility, capitalization from almost $3 trillion in November to $984 million and daily trading volumes for the leader of the cryptocurrency sector from 700 million to 61.3 million, leave, the remaining holders hint that the bottom has already been reached. It's time to move on to growth. Moreover, the Republicans, who have repeatedly insisted on regulating the crypto assets sector, are most likely to win the midterm elections in the United States. Technically, on the BTCUSD daily chart, the rebound from the moving averages increases the risks of forming a Broadening Wedge pattern. We keep the longs formed from the 20,100–20,200 area and build them up in case of updating the local high at 21,000.     Relevance up to 09:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326256
The G20 And IMF Are Already Preparing Their Crypto Regulation

There Are No Positive Signs For The Cryptocurrency Market

Conotoxia Comments Conotoxia Comments 04.11.2022 13:02
Since the beginning of the year, the cryptocurrency market seems to have been in a cyclical downturn. According to data from the Statista portal, the capitalization of the entire market has fallen by about 58% since the beginning of the year, from $2.3 trillion to $0.97 trillion. Still, in terms of capitalization, bitcoin tops the list, accounting for about 40% of the cryptocurrency market's turnover, according to Coingecko statistics. Additionally, more than 90% of all 21 million bitcoins have already been dug up. The biggest winners since the beginning of 2022 among the TOP 200 according to the current capitalization of the Cryptorank portal are: BinaryX (116% YTD) Trust Wallet Token (57% YTD) ABBC coin (31% YTD) Bitgert (15% YTD) UNUS SED LEO (14% YTD). Green cryptocurrencies? After numerous votes and statistics regarding the CO2 emissivity of the system for digging cryptocurrencies, of which bitcoin is one, many projects have decided to change their computing architecture to "Proof of Storage" or "Proof of Stake." The largest project that has done this is Ethereum. It is estimated that ETH's energy consumption has decreased by 99.99%. Additional examples of green cryptocurrencies include: Cardano (-81% y/y)., Stellar (-67% y/y), and IOTA (-80% y/y). The most volatile cryptocurrencies since the beginning of 2022, according to the Cryptorank portal, are:  Bankera (OLD) (41990% YTD) Tierion (15588% YTD) Insolar (12286% YTD) smARTOFGIBING (4890% YTD). AREON (4027% YTD) As it turns out, the current year has been extremely difficult for the broad market. Someone could get the feeling that cryptocurrencies have become one of the biggest beneficiaries of low interest rates and global additions. Presently, they seem to appear as one of the biggest casualties. Additionally, this seems not to be helped by the damaged confidence towards stablecoins. Until countries change their monetary policies and attitudes towards the cryptocurrency market, there seem to be no positive signs for them. Source: Conotoxia MT5, BTCUSD, Weekly What might 2023 bring? According to current interest rate market assumptions, 2023 could see stabilization in U.S. interest rates above 5 percent. At that time, inflation could also fall below the interest rate. This could, in theory, bring calm to the financial markets. Meanwhile, bitcoin could begin a new halving cycle, which will take place in 2024. Perhaps the current cyclical downturn comes to an end by 2022, and 2023 may be more kind to cryptocurrency holders. Grzegorz Drozdz, Junior Market Analyst at Conotoxia Ltd. (Conotoxia investment service) Read more reviews and open a demo account at invest.conotoxia.com Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. The personal opinion of the author does not represent and should not be constructed as a statement or investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Top Creators In The NFT Market | Instagram And NFT | The Expansion Of GameStop

Crypto.com Accelerate the... Crypto.com Accelerate the... 04.11.2022 11:56
New Project Spotlight NFT Collectibles [LIVE] The “Visa Masters of Movement” auction on Crypto.com NFT features digital art inspired by iconic goals from five legendary footballers that have been minted as unique NFTs. Fans can create their own personalised collectibles on a digital pitch at the FIFA Fan Festival™ in Doha, Qatar. [COMING SOON] Crypto.com signs an MOU for NFT collaboration with A Story. With this agreement, the two companies will cooperate on promoting NFT projects based on productions by A Story. [COMING SOON] “Dimensions of Perception” features Igor Martins’s impressions on reality, dreams, visions, memories, and sensations. Martins seeks to create relationships between the physical and metaphysical world. The drop will go live on 10 November in Crypto.com NFT. Blockchain Games [LIVE] Cronos game Defira allows players to earn Fira while becoming a Defiraverse legend. The main character, Fiera, needs an army and is looking to recruit players’ heroes. [COMING SOON] The Frontier test for Cronos game Zoids Wild NFT Arena will begin on 10 November. Players who sign up for the Frontier Test are able to play for $20,000 in prizes. [COMING SOON] The Cronos Labs Accelerator Cohort 2 has opened its registration until 28 November 2022. The Accelerator will be supporting projects across the verticals of Web3 gaming, SocialFi, and NFTs with investments, mentorship, and workshops. NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea Art Gobblers $15,300,000(31 Oct launch) $15,290 Crypto.com NFT Art Blocks $6,500,000(+49%) $163 OpenSea CryptoPunks $5,818,000(-12%) $101,450 Crypto.com NFT Bored Ape Yacht Club $2,500,000(-24%) $113,000 Minted VVS Miner Mole $94,000(-13%) $333 Minted Argonauts $65,000(-72%) $89 Platform OpenSea Collection Art Gobblers Sales Volume (USD) $15,300,000(31 Oct launch) Floor Price (USD) $15,290 Sample Platform Crypto.com NFT Collection Art Blocks Sales Volume (USD) $6,500,000(+49%) Floor Price (USD) $163 Sample Platform OpenSea Collection CryptoPunks Sales Volume (USD) $5,818,000(-12%) Floor Price (USD) $101,450 Sample Platform Crypto.com NFT Collection Bored Ape Yacht Club Sales Volume (USD) $2,500,000(-24%) Floor Price (USD) $113,000 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $94,000(-13%) Floor Price (USD) $333 Sample Platform Minted Collection Argonauts Sales Volume (USD) $65,000(-72%) Floor Price (USD) $89 Sample Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 291K(-3%) $5K Trickshot Blitz Flow 115K(-30%) $79K Farmers World WAX 95K(-5%) $17K Axie Infinity Ronin, ETH 62K(-2%) $14M Game Splinterlands Blockchain(s) Hive, Wax UAW 291K(-3%) Volume $5K Logo Game Trickshot Blitz Blockchain(s) Flow UAW 115K(-30%) Volume $79K Logo Game Farmers World Blockchain(s) WAX UAW 95K(-5%) Volume $17K Logo Game Axie Infinity Blockchain(s) Ronin, ETH UAW 62K(-2%) Volume $14M Logo Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$8.42 billion, up +17% from last week.  From 14-18 November in Bonifacio Global City, Metro Manila, the Philippine Web3 Festival will see founders, developers, and gamers convene in the NFT gaming space. The festival is organised by Yield Guild Games (YGG) and BlockchainSpace (BSPC). News Highlights The Minted launchpad is now live, enabling creators to mint NFT collections on both Ethereum and Cronos. Collectors can discover the latest and diverse array of NFT collections on both networks. Instagram users will soon be able to mint and sell NFTs. The latest update will enable creators to make their own digital collectibles and sell them both on and off Instagram, giving them a toolkit for creating, displaying, and selling NFTs. GameStop extends its NFT Store to ImmutableX, granting access to collectibles on an additional network. The expansion is expected to reach tens of millions of customers and will allow access to major Web3 games such as Gods Unchained, Guild of Guardians, and Illuvium. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
The South America Are Looking For Alternatives To The US Currency

Ed Moya (Oanda) talks NFP, oil, crypto and more - 4/11/22

Ed Moya Ed Moya 04.11.2022 22:12
US stocks went on a rollercoaster ride after another strong labor report. Stocks are rallying as Wall Street believes the Fed is on the right to bring inflation down. This nonfarm payrolls report was mostly hot; a strong headline number, upward revisions, and further wage growth. ​ What was surprising was the jump higher with the unemployment rate, but when you factor in we had a surprise drop in September, it doesn’t look so significant. There are a lot of signs that support the labor market will continue to soften here. ​ Service sector hiring has some cracks and that should weaken going forward. This labor report allows Fed Chair Powell to stick to the hawkish script for a while and still support the idea of a downshift in tightening for the next policy meeting. Unless next week’s inflation report is a scorcher, the Fed will opt for a slower rate pace of rate increases. ​ ​ ​ ​ NFP The labor market is slowly weakening here. ​ An impressive NFP headline of 261,000 jobs created in October was also accompanied by an increase in the unemployment rate from 3.5% to 3.7%. ​ Wage growth did not ease up at all and that should keep the Fed rhetoric remaining hawkish. The economy is just starting to feel the Fed’s first round of rate hikes which means they might have to remain hawkish going into the spring. Fed swaps are expecting the policy rate to rise to 5.25% in June and that is the line in the sand for risk appetite. ​ If the next couple of inflation reports are surprisingly hot, risk appetite could see a violent selloff. FX The dollar is getting crushed here as Wall Street is growing confident they finally identified the peak in the terminal rate. ​ It seems markets are pricing in a Fed that will slowly take rates to 5.25% and that has put a key top in the dollar. ​ The dollar is having its worst day since March 2020 and that could continue if next week’s inflation report does not come in scorching hot. ​ Oil The oil market shouldn’t expect a lot of new wells as oil and gas extraction jobs only rose by 400 in October. ​ $100 oil is coming as the US service sector labor market remains robust and on expectations supplies will remain tight. Oil rallied earlier on further speculation that China is about to tweak their pandemic rules. Chinese crude demand has been capped and if that roars back, that alone could send oil prices 5% regardless of global economic slowdown fears. ​ There are too many geopolitical risks on the table that should keep oil’s trajectory higher. ​ If the dollar continues to slide here, oil’s strength could be relentless. Gold Gold prices are pushing higher despite a strong labor market report. Gold’s initial NFP reaction was a spike lower as the two-year Treasury surged to a multi-year high. ​ The initial glance of the NFP report was that both hiring and wages remain hot and that could have the Fed take rates to 5.25%. ​ After Wall Street digested the NFP report, yields and the dollar reversed. ​ The Fed appears to be on the right path for fighting inflation and that will lead to a weaker economy early next year. The long variable lags of Fed tightening has traders convinced they opt for a slower pace of hikes and decide later on when to stop. If next week’s inflation report contains a downward surprise, gold might be able to make a run towards the $1700 level. Crypto Range traders must love crypto. ​ Bitcoin remains anchored above the $20,000 level. ​ Today’s employment report triggered a wave of volatility that ended up being positive for risky assets, which has helped Bitcoin rally above the $21,000 level. ​ A downshift to a slower pace of tightening still seems in the cards for the Fed and that should provide some short-term support for cryptos. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. NFP React: Stocks higher, Dollar crushed, Oil eyes $100, Gold surges, Bitcoin above $21k - MarketPulseMarketPulse
The Bitcoin Price Movement Is In The Bullish Channel

In South Africa Cryptocurrencies Have Already Become Very Popular

InstaForex Analysis InstaForex Analysis 07.11.2022 09:41
Crypto Industry News: South African supermarket chain and the National Children's Advocacy Center are the newest organizations to accept cryptocurrency payments. One of the largest supermarket chains in South Africa - Pick n Pay - has allowed customers to pay with cryptocurrencies, including BTC. The offer includes 39 stores of the company located throughout the country. Pick n Pay mentioned the new payment option a few months ago when they tried it out in ten of their stores. The service is now fully active at nearly 40 locations. The company has established cooperation with Electrum and CryptoConvert. Customers can pay for grocery purchases with Bitcoin Lightning. The company explained that "a transaction is as easy and safe as swiping a debit or credit card." "Customers scan the QR code from the application and accept the currency converter on their smartphone at the time of the transaction. The service fee for each transaction is minimal, costs the customer an average of 70 cents, and the whole process takes less than 30 seconds" - added. The cryptocurrency payments market in South Africa is still in an early stage of development. Cryptocurrencies have already become very popular with the local population, however, and movements like this in the retail chain can fuel adoption. Another organization that has recognized cryptocurrencies as a settlement measure is the National Children's Advocacy Center. The Foundation teams up with Giving-Blocks to become the first Huntsville nonprofit to accept donation of digital assets. Technical Market Outlook: The BTC/USD pair made a new local high at the level of $21,471in form of a Pin Bad candlestick and sharply reversed back below the last technical support. The market is currently approaching the demand zone again (green rectangle on the H4 time frame chart), so any breakout below the demand zone low seen at $20,211 would have extend the sell-off towards the recent low seen at $20,016 or below. Please notice, there is untested level of technical support seen at $19,686. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 09:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299886
An Investigation Against Terraform Labs In Singapore

The Ethereum Market Has Made A New Local High

InstaForex Analysis InstaForex Analysis 07.11.2022 09:45
Crypto Industry News: Ethereum creator Vitalik Buterin has unveiled a new version of his project's development plan. Other milestones on the Ethereum Roadmap include: The Surge, The Scourge, The Verge, The Purge, and The Splurge. It aims to improve resistance to censorship and network decentralization. Ethereum's new plans were revealed in a Twitter post on November 5. After Ethereum's transition to the proof-of-stake (PoS) algorithm on September 15, Ethereum entered the second stage - The Surge, with the goal of producing 100,000 transactions per second. The updated technical roadmap now introduces The Scourge as a new third stage, followed by the previously known phases: The Verge, The Purge, and The Splurge. According to the Ethereum roadmap, The Scourge's goal is to "provide a reliable and credibly neutral transaction enablement system and avoid centralization and other threats associated with the MEV [Miner Extractable Value] protocols." Buterin previously described a credibly neutral mechanism as one that "does not discriminate against any specific individual." He also confirmed the update "The Verge" which will now include the integration of Succinct Non-Interactive Argument of Knowledge (SNARK) technology with Ethereum. The addition of SNARK will add much-needed privacy features to the Ethereum network while allowing anonymous transactions to be tracked. Technical Market Outlook: The ETH/USD pair has made a new local high at the level of $1,665, made a PinBar candlestick and immediatley reversed towards the technical support seen at $1,594 (now it will act as a technical resistance). The bearish pressure is still high and the next target for bears is seen at the level of $1,502. The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/299888
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Deribit And Loss Of $28 Million Due To A Hacker Attack | Instagram Will Use The Polygon Blockchain For NFT Minting

Crypto.com Accelerate the... Crypto.com Accelerate the... 07.11.2022 09:53
Weekly Market Index Last week’s crypto market prices were up slightly at +3.7%, while volume and volatility were down -3.7%, and -38.7%, respectively. Weekly Performance Bitcoin (BTC) is holding above the $20K price level and was up +1.1% last week, while Ethereum (ETH) was down -1.3%. Amongst other selected top-cap crypto tokens, Polygon (MATIC) surged +27.8% and Litecoin (LTC) rose +26.5%. Potentially behind MATIC’s rally might be Meta’s announcement that Instagram will allow creators to mint NFTs using the Polygon blockchain. Project Spotlight Ribbon Finance is a suite of DeFi protocols that helps users access crypto structured products. By combining derivatives, lending, and a proprietary on-chain options exchange (Aevo), Ribbon aims to be a one-stop solution for users who want to improve a portfolio’s risk-return profile. The native token of Ribbon Finance is RBN, which is available for trading on the Crypto.com App. RBN has a circulating supply of 572.01 million and a max supply of 1 billion. The token is used for governance voting. The majority of token distribution is to Community Treasury (49%), Team (23%), and Investors (15%). Earlier this year, Ribbon Finance raised US$8.8M from venture capital firm Paradigm. News Highlights Crypto.com announced that it has become Visa’s associate programme member in Singapore. This strategic partnership will enable the company to initiate self-issuance of the Crypto.com Visa card in-market. The U.S. Fed raised interest rates by 75 bps in its latest round, in line with market expectations. Some observers interpreted the Fed’s messaging as hinting at smaller rate hikes to come.  Hong Kong’s Securities and Futures Commission (SFC) will conduct a public consultation on how retail investors may be given a “suitable degree of access to virtual assets” to licensed exchanges. The SFC also stated the possibility of having exchange-traded funds (ETFs) on virtual assets. Meta (formerly Facebook) is expanding support for NFTs by allowing some creators to make and sell digital collectibles directly on Instagram. At launch, Instagram will use the Polygon blockchain for NFT minting. Deribit, a major crypto derivatives exchange, suffered a security breach, with the hackers taking nearly US$28M from the exchange’s hot wallet. Deribit noted that “the hack is isolated to their BTC, ETH, and USDC hot wallets.” Recent Research Reports Alpha Navigator (Oct 2022): Crypto continues to outperform other asset classes in October. Is the Fed pivoting on rates tightening policy? ETH’s short-term correlations with equities reducing. NFT Financialisation and Utility: An Overview: As NFT utility grows, so does the potential to make money from them. NFT financialisation could help to achieve greater liquidity and unlock the value of NFTs. NFT Utility: A Multifaceted Overview and Use Cases: For NFTs to increase value and to be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

How To Manage The Risk Of A Cryptocurrency Portfolio

Binance Academy Binance Academy 07.11.2022 10:05
TL;DR Risk management is an essential part of investing and trading responsibly. Risk management strategies can reduce your portfolio's overall risk in various ways. For example, you may diversify your investments, hedge against financial events, or implement simple stop-loss and take-profit orders. Introduction It's a well-known fact that investors and traders look to minimize risk. Even if your risk tolerance is high, you'll still, in some way, weigh the risk of your investments versus the payoff. However, there's more to risk management than just choosing less risky trades or investments. A comprehensive toolset of risk management strategies is available, many of which are suitable for beginners, too. Learn more on Binance.com What is risk management? Risk management entails predicting and identifying financial risks involved with your investments to minimize them. Investors then employ risk management strategies to help them manage their portfolio's risk. A critical first step is assessing your current exposure to risks and then building your strategies and plans around them. Risk management strategies Risk management strategies are plans and strategic actions traders and investors implement after identifying investment risks. These strategies reduce risk and can involve a wide range of financial activities. Some examples include taking out loss insurance and diversifying your portfolio across asset classes. In addition to active risk management practices, it is important to understand general risk management planning. There are four general planning strategies you can work with. Risk Management planning stratergies Acceptance: Deciding to take on the risk of investing in an asset but not spending money to avoid it as the potential loss isn't significant. Transference: Transferring the risk of an investment to a third party at a cost. Avoidance: Not investing in an asset with potential risk. Reduction: Reducing the financial consequences of a risky investment by diversifying across your portfolio. This could be within the same asset class or even across industries and assets. Why is a risk management strategy important in crypto? It's common knowledge that crypto, as an asset class, is one of the higher-risk investments available to the average investor. Prices have proven to be volatile, projects can crash overnight, and the technology behind blockchain can be challenging for newcomers to understand. With crypto moving rapidly, it's imperative to employ sound risk management practices and strategies to reduce your exposure to potential risks. This is also an essential step to becoming a successful and responsible trader. Strategy #1: Consider the 1% rule The 1% rule is a simple risk management strategy that entails not risking more than 1% of your total capital on an investment or trade. If you have $10,000 to invest and want to adhere to the 1% rule, there are a few ways to do so.  One would be to purchase $1,000 worth of bitcoin (BTC) and set a stop-loss or stop-limit order to sell at $9,900. Here, you would cut your losses at 1% of your total investment capital ($100). You could also purchase $100 of ether (ETH) without setting a stop-loss order, as you would only lose a maximum of 1% of your total capital if the price of ETH were to drop to 0. The 1% rule doesn't affect the size of your investments but the amount you are willing to risk on an investment. The 1% rule is especially important for crypto users due to the market's volatility. It can be easy to get greedy, and some investors may put too much into one investment and even suffer heavy losses expecting their luck to turn. Strategy #2: ​​Setting stop-loss and take-profit points A stop-loss order sets a pre-determined price for an asset at which the position will close. The stop price is set below the current price and, when triggered, helps protect against further losses. A take-profit order works the opposite way, setting a price at which you want to close your position and lock in a certain profit. Stop-loss and take-profit orders help you manage your risk in two ways. First, they can be set up in advance and will be executed automatically. There's no need to be available 24/7, and your pre-set orders will be triggered if prices are particularly volatile. This also allows you to set realistic limits for the losses and profits you can take.  It’s better to set these limits in advance rather than in the heat of the moment. While it can be strange to think of take-profit orders as part of risk management, you shouldn't forget that the longer you wait to take profit, the higher the risk the market could fall again while waiting for an  additional upside. Strategy #3: Diversify and hedge Diversifying your portfolio is one of the most popular and fundamental tools to reduce your overall investment risk. A diversified portfolio won't be too heavily invested in any asset or asset class, minimizing the risk of heavy losses from one particular asset or asset class. For instance, you may hold a variety of different coins and tokens, as well as provide liquidity and loans. Hedging is a slightly more advanced strategy to protect gains or minimize losses by purchasing another asset. Usually, these assets are inversely correlated. Diversification can be a type of hedge, but perhaps the most well-known example is futures. A futures contract lets you lock in a price for an asset at a future date. Imagine, for instance, you believe bitcoin's price will tumble, so you decide to hedge against this risk and open a futures contract to sell BTC for $20,000 in three months. If bitcoin’s price does indeed fall to $15,000 three months later, you will profit from your futures position.  It's worth remembering that futures contracts are settled financially, and you don't have to deliver the coins physically. In this case, the person on the other side of your contract would pay you $5,000 (the difference between the spot price and the futures price), and you would have hedged against the risk of bitcoin’s price falling. As mentioned, the crypto world is a volatile one. However, there are still opportunities to diversify within this asset class and use hedging opportunities. Diversification in crypto is much more crucial than in more traditional financial markets with less volatility. Strategy #4: Have an exit strategy ready Having an exit strategy is a simple but effective method for minimizing the risk of heavy losses. By sticking to the plan, you can take profits or cut losses at a pre-determined point. Often, it's easy to want to keep going when making gains or to put too much faith in a cryptocurrency even when prices are falling. Getting caught up in hype, maximalism, or a trading community can also cloud your decision-making. One way of successfully implementing an exit strategy is to use limit orders. You can set them to automatically trigger at your limit price, whether you want to take profit or set a maximum loss.  Strategy #5: Do Your Own Research (DYOR) DYOR is an integral risk-reduction strategy for any investor. In the Internet age, it's easier than ever to conduct your own research. Before investing in a token, coin, project, or other asset, you must do your due diligence. It's key that you check essential information about a project, such as its white paper, tokenomics, partnerships, roadmap, community, and other fundamentals. However, misinformation spreads quickly, and anyone can submit their opinions or online as facts. When conducting research, consider where you're getting your information and the context in which it's presented. Shilling is commonplace, and projects or investors can spread false, biased, or promotional news as if it were sincere and factual. Closing thoughts With the five risk management strategies outlined, you'll have an effective tool kit to help reduce your portfolio's risk. Even employing simple methods that cover most areas will help you invest more responsibly. At the other end of the scale, there's potential to create risk management plans with more advanced, in-depth strategies.  To dive deeper into the topic, refer to the following articles: How to Manage Risk and Trade Responsibly | Binance Support What Is the Risk/Reward Ratio and How to Use It | Binance Academy  3 Reasons Why Binance Futures Is The Preferred Hedging Venue For Traders    
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin (BTC/USD) Will Still Have Chances To Rise

InstaForex Analysis InstaForex Analysis 07.11.2022 13:06
Bitcoin ended the previous trading week on a bullish note, but the current trading activity is not enough for a rapid upward movement. Over the weekend, trading volumes expectedly decreased, which provoked pressure from sellers. It is important to note that Saturday's bullish momentum allowed the cryptocurrency to hit $21.5k and end the trading day above $21k. This is a positive signal indicating growing bullish sentiment in the digital asset market. The test of the $21.5k level provoked the activation of sellers, who subsequently managed to bring the price of BTC below $21k. On November 7, buyers became active again and made another attempt to gain a foothold above $21k. Despite the unsuccessful attempt to storm $21k, we must admit that Bitcoin did not run out of bullish potential over the weekend. The asset has successfully traded the range of $20.4k–$20.7k and continues its upward movement to the area of $21k–$21.5k. The main question is whether the asset will succeed in a bullish run. Fundamental background Any analysis of the price of Bitcoin should start with fundamental factors that positively or negatively affect the movement of cryptocurrency. The main reason for the optimism of crypto investors was the increase in unemployment by 3.7%, which is a direct consequence of the aggressive policy of the Fed. At the same time, returning to the Fed, it is important to note that the regulator does not consider it necessary to ease monetary policy. Markets are pricing in a high probability of a 50 basis point rate hike in November. Against such expectations, Glassnode analysts say they do not record a significant increase in demand in the crypto market. An important catalyst for the growth of quotes of the crypto market and Bitcoin could be the collapse of the US dollar index. The asset reached the level of 113, followed by a fall to the local support level of 110. On November 7, DXY tried to win back the fall and reached the level of 111.8 but was stopped by the bears. As a result, DXY is trading below 110, and at the end of the previous trading day, the index formed a strong "bearish engulfing" pattern. Technical metrics on the daily timeframe unanimously point to the continuation of the downward trend. The DXY correction could be a catalyst for the rise of Bitcoin and other high-risk assets. On the daily SPX chart, an upward reversal is visible with a bullish crossover forming on the stochastic. The RSI index also resumed its upward movement, which indicates investors' bullish sentiment. Given the combination of factors, we expect to see another attempt by Bitcoin to break through $21k. BTC/USD analysis Bitcoin on-chain activity was expected to deflate over the weekend, but this is where we will see confirmation of the viability of the upward movement of BTC. Trading volumes and the number of unique addresses should show an increase in parallel with the upward price movement. On the daily timeframe, we see that Bitcoin is trying to gain a foothold above the upper limit of the local range of last week at $20.4k–$20.7k. Technical metrics indicate the continuation of the downward movement and, as a result, the breakdown of the $20.7k level. At the same time, a local support zone formed near $20.7k, which the bears failed to take on the first try. Moreover, even if it falls below $20.7k, Bitcoin will still have chances to rise as long as it stays above $20k–$20.4k. According to IntoTheBlock, in the $19k–$20.7k range, 2.13 million BTC were purchased by 4 million users. Most of these volumes were absorbed to the $20.4k level, and therefore, under current market conditions, a downward breakout of this zone looks unlikely. Bitcoin plans for the week will be clear after the opening of the US markets. If the asset holds the $20.7k level at the end of today's trading day, then in the next 1–2 days, we will see a retest of $21.5k. With a breakdown of $20.7k, BTC will need more time to consolidate for an upward push towards $21k. In any case, the dynamics of SPX and DXY, and bullish sentiment in the crypto market, indicate a continuation of the local BTC upward trend.   Relevance up to 10:00 2022-11-08 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326396
Digital assets weren’t sold in a way stocks were - Weekly Crypto Market Analysis by Geco.one

Digital assets weren’t sold in a way stocks were - Weekly Crypto Market Analysis by Geco.one

Geco One Geco One 07.11.2022 13:38
Bitcoin (BTC) In line with market expectations, the Federal Open Market Operations Committee (FOMC) decided to raise the federal funds rate by another 75 basis points during its November meeting. It is noteworthy that it was the fourth such significant increase in interest rates in a row and the sixth since March this year, proving a monetary policy tightening cycle. Although this decision contributed to the decline in the price of many cryptocurrencies, including Bitcoin, the sell-off observed in the virtual assets market was smaller than that experienced by the US stock market. Considering the expectations that the Fed will reduce the scale of its tightening already during the December meeting, it seems more and more likely that the cryptocurrency winter observed since November 2021 is slowly coming to an end. Investors are currently valuing a 56.8 % chance of an interest rate hike only by 50 bp during the December meeting and a 43.2 % chance for a fifth consecutive interest rate hike by 75 bp. Therefore, it is currently expected that after four consecutive interest rate hikes by 75 bp, the Fed will make two increases of 50 bp in December 2022 and February 2023. each, and then in March, it will raise the federal funds rate only by 25 bp. to 5.00-5.25%, which would be the target for the current tightening cycle. For the following months, interest rates will probably remain unchanged, and perhaps they will be cut for the first time at the end of next year. It, therefore, seems that the current tightening cycle, which was one of the main catalysts for the nearly a year's sell-off in the cryptocurrency market through a reduction in liquidity, is slowly coming to an end, increasing the chances of a rebound and return of this market to the growth path. Before this happens, however, Bitcoin's quotations could fall back to the local line of the upward trend, which is the lower limit observed since the second half of September this year. Parallel growth channel formation, or even up to $ 18,500. This is supported by the supply reaction that appeared on Sunday after the BTC rate reached the upper limit of the channel. However, if nothing unexpected happens in the global economy, it seems less and less likely that the BTC price will drop below 18,000. USD. Ethereum (ETH) Ethereum has been trading inside a highly tight parallel growth channel formation for several days. There are many indications that this system is only a form of a temporary rebound before the next upward impulse towards USD 1,780 or even USD 2,000. However, it is possible that before these increases occur, the ETH rate will first slide to the area of ​​recently defeated resistance (now support), located around USD 1,425 and USD 1,380, respectively. It is worth noting that both of these levels coincide with significant Fibonacci measures - the first with 50% and the second with 61.8% of the range of the previous upward movement - which increases the probability that even if the price of this cryptocurrency slides to them, then there could be a greater demand pressure, which would initiate another upward rebound. Litecoin (LTC) Litecoin prices proved resistant to the Fed's monetary policy, as a result of which they have recently increased by over 51%, breaking several significant resistance levels and reaching the region of USD 73, which is the highest level since May this year. If there is more supply pressure around the currently tested level, the LTC could slide to any of the recently breached levels, i.e. to $ 64.50 or $ 57. The dynamics of the last upward movement may, however, indicate that this is a new impulse, which is more likely that a possible downward movement will turn out to be only a form of correction, after which the quotations of this cryptocurrency will return to the upward path. A permanent break above USD 73.50 could open the door for further appreciation towards another resistance located at USD 96. Solana (SOL) In line with last week's projection, Solana's stock has risen 44% over the past few days, hitting a technical resistance of $ 37.50. As we assumed, there was a slight supply reaction around this level, which formed a pro-bearish engulfing system, signalling a potential rejection of the resistance mentioned, which in turn could naturally drive a downward move towards USD 27 in the near future. Polygon (MATIC) The Polygon (MATIC) cryptocurrency exchange rate has recently surged, overcoming the essential technical resistance of USD 1.03 and reaching USD 1.30 last Saturday, the highest level since April this year. Such a strong appreciation increases the risk of a corrective downward rebound in ki in the near future$ by 1.03 or even $ 0.95. However, it seems highly probable that even if such declines appear here, they will ultimately turn out to be only a form of correction, after which the MATIC price will return to the upward path. A permanent break above $ 1.33 could, in turn, drive a further upward rally towards another resistance around $ 1.70. XRP The XRP rate has been maintained since this year's second half of September in the horizontal trend between the support in the region of USD 0.44 and the resistance around USD 0.54. It seems highly probable that this trend will continue over the next few days and perhaps even weeks. No rule determines the moment of breaking out of consolidation. However, taking into account that this pattern is usually only a correction, from which the market breaks in the direction consistent with the earlier move, it seems more and more likely that the XRP rate will eventually break out of this formation, which in turn could drive further appreciation. Binance Coin (BNB) Looking at the Binance Coin quotes, we will notice that the price of this cryptocurrency has increased by over 40% over the past few days, thus returning to the area of ​​previously defeated support (now resistance) of $ 355. Around this resistance, a supply reaction appeared last weekend, as a result of which we are now observing a re-test of the recently defeated resistance (now support) in the amount of $ 330. If the BNB price drops below the currently tested level, it should soon be prepared for further depreciation towards USD 297. Cardano (ADA) Cardano's quotations have recently returned to the area of ​​the previously defeated upward trend line, which is the lower boundary of the earlier isosceles triangle, from which the cryptocurrency exchange rate was already knocked down at the beginning of October this year. If the Cardado exchange rate rebounds from the resistance being tested in the near future, we could expect it to depreciate again to around USD 0.3850 or even USD 0.33.
There Are Many Ways To Join A Crypto Community

Active Cryptocurrency Wallets Increased In October

Alex Kuptsikevich Alex Kuptsikevich 07.11.2022 11:25
Bitcoin and Ethereum picture There is a little bit for everyone in this move. The bulls record new, higher local highs and higher lows. On the other hand, the bears see that the recovery in Bitcoin is by no means gaining strength, and the rate remains tightly below the 200-week average. Ethereum added 0.9% over the week to $1610. Other leading altcoins from the top 10 rose from 3.1% (Cardano) to 11.9% (BNB). Total cryptocurrency market capitalisation, according to CoinMarketCap, rose 2.8% for the week, to $1.05 trillion, but by Monday, had rolled back 1.9% to $1.03. The Cryptocurrency Fear and Greed Index rose 6 points for the week, to 40 and remains in "fear" mode. Cryptocurrency Market News  Decentralised application tracking platform DappRadar reported that the number of active cryptocurrency wallets increased by 7% in October compared to the previous month, which may indicate the end of the crypto winter. According to ForkLog, trading volume on leading cryptocurrency exchanges fell 25% in October to its lowest level since December 2020. Bitcoin miners' total revenue in October was up 7% compared to the previous month. The share of public miners in the BTC hashtag reached 25%. The European Parliament has postponed until February next year a final vote on the MiCA cryptocurrency regulation bill. The extensive and technically complex document must be translated into 24 official languages. Goldman Sachs is partnering with Coin Metrics and MSCI to introduce a tool called Datonomy that allows investors to track cryptocurrency market movements and quickly analyse the digital asset ecosystem.
The President Of El Salvador Continues To Promote Bitcoin

Meta Focuses Its Investments On Discovery Engine, Advertising And Business Communication Platforms

InstaForex Analysis InstaForex Analysis 08.11.2022 11:39
Crypto Industry News: At the end of September, Meta employed over 87,000 employees, many of whom work in the metaverse department. Now the company is reportedly planning "large-scale layoffs." All because of rising costs and the recent decline in stock prices. Internet media, citing people familiar with the case, claim that the planned layoffs may affect many employees. It is currently unknown whether the Reality Labs division, which recorded a loss of as much as $ 3.7 billion in the third quarter, will also see staff cuts. Last week, Meta CEO Mark Zuckerberg said the company will focus its investments on "a small number of high-priority areas" including the Discovery Engine, advertising and business communication platforms. "It means that some teams will develop significantly, but most others will remain the same or shrink next year (...)" - he announced. He added that he believes that the company is "on the right track" when it comes to investments and should "continue to work intensively in these areas". Technical Market Outlook: The BTC/USD pair made a new local high at the level of $21,471 and then the bears pushed the market below the demand zone again (pink rectangle on the H4 time frame chart). During this aggressive and dynamic sell-off BTC lost almost 10% and hit the local low at the level of $19,731. The level of $19,942 and $20,034 will now act as the intraday technical resistance for bulls. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.       Relevance up to 11:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300083
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

The Bearish Pressure Is Still High In The Ethereum Market

InstaForex Analysis InstaForex Analysis 08.11.2022 11:48
Crypto Industry News: Jack Dorsey, one of the founders and former CEO of Twitter, is preparing a new social networking site - Bluesky Social. It will be a place for those who do not like the fact that the first platform was bought by Elon Musk. According to the creators, Bluesky Social is to be the first decentralized social network. What does this mean in practice? This is not known yet. It is possible, however, that it will mean a continuation of Dorsey's experiments with blockchain and cryptocurrencies. When will the portal be launched? You won't have to wait very long for this event. The Bluesky Social app is currently in a test version. Its capabilities are tested by a limited group of users. However, is talking about "new Twitter" justified? In addition, is such an application valid today? First of all, remember that similar attempts to beat Twitter's nose (back in the reign of Dorsey) have already taken place. Rather, they ended in failure. At this point, it is enough to mention Truth Social, the project behind which is Donald Trump, the former US president, whose Twitter account has been blocked. The Polish Albicla, which was supposed to be a social networking site for the right, also belongs to the group of not very successful clones of Twitter or Facebook. Technical Market Outlook: The ETH/USD pair has made a new local high at the level of $1,665, made a PinBar candlestick and immediatley started a dynamic sell-off that terminated at the level of $1,533 after 14% drop. The bearish pressure is still high and the next target for bears is seen at the level of $1,502. The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.       Relevance up to 11:00 2022-11-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300085
From UFOs to Financial Fires: A Week of Bizarre Events Shakes the World

The Fed Has Made Clear It Intends To Slow The Pace Of Tightening

Craig Erlam Craig Erlam 08.11.2022 12:45
A cautious start to trading on Tuesday, with investors seemingly having one eye on midterm results in the US and another on Thursday’s inflation data. It’s hard to see past both of these things this week. The question for many is whether investors will respond positively to the deadlock in Washington. On the one hand, the prospect of less spending could be viewed as aiding the inflation fight but on the other, the economy could be headed for recession, and inaction in government won’t help the situation. The Republicans are strongly favoured to take back control of the House and with the Senate currently split, they are likely to edge that as well, meaning Biden’s economic agenda will come to a standstill ahead of the 2024 election. Arguably the most important takeaway from the midterms will be how Trump-supporting Republicans fare, particularly those so fiercely sticking to the “stolen election” line, among others. With Trump himself due to make a “big announcement” soon, it would appear he’s about to throw his hat into the ring and declare any victories a show of support for his own nomination. With the US likely heading for recession, whoever wins the Republican race stands a good chance of winning the race in 2024. It may now become a question of how much of a grip Trump still has on the Republican party and whether the manner of his exit will prove to be a barrier or a supportive factor within the base. Of course, the more pressing issue in the near term is inflation and so, regardless of the midterm results, we may still see some trepidation in the markets ahead of Thursday’s release. The Fed has made clear it intends to slow the pace of tightening in December and this data could either throw that into question or start to build the case for a lower terminal rate than the central bank hinted at last week. Bitcoin plunges below $20,000 It’s been a rough couple of days for bitcoin which finds itself back below $20,000 and down more than 4% on the day. It has recovered a little after previously being off more than 6% but this is a far more severe decline than we’re seeing in other risk assets which may be a worrying sign for crypto bulls. The declines may be linked to the plunge in FTT which nosedived amid reported concerns over Alameda’s balance sheet. We’ve seen this kind of situation have ripple effects on prices before and this may explain the sharper declines we’re seeing this week. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The President Of El Salvador Continues To Promote Bitcoin

The Insolvency Of Exchanges Is A Topic Widely Discussed

Conotoxia Comments Conotoxia Comments 08.11.2022 14:47
The cryptocurrency market seemed to be characterized by more stability recently. Volatility in the price of bitcoin fell to its lowest level in 2 years. It was even lower than the volatility in the traditional currency market, the stock market and even bonds. However, the cryptocurrency market may be knocked out of balance by concerns about the FTX exchange. Twitter, which Elon Musk has taken over, has become a platform for exchanges between three important people in the cryptocurrency market. Sam Bankman-Fried is the CEO of the FTX exchange, Changpeng Zhao is the CEO of Binance, and Caroline Ellison is the head of Alamada Research, a subsidiary of the FTX exchange. Alamada is a trading company that manages more than $1 billion in digital assets and trades between $1 billion and $10 billion a day across thousands of major tokens, altcoins and their derivatives. Alameda Research holds about forty cryptocurrencies, according to data as of the end of April. Source: Conotoxia MT5, FTT, Daily What's happening in the cryptocurrency market? Over the weekend, rumors began to surface about the insolvency of the FTX cryptocurrency exchange. As a result, its owner began to assure in his Twitter posts that customers' funds are safe, and the exchange can withdraw all of them to its customers without any problems. Bankman-Fried added that the exchange does not invest its customers' funds and processes all withdrawals. The rumors may have emerged after CoinDesk published a story last week revealing that the balance sheet of FTX's sister company, Alameda Research, consisted of FTT (FTX's native token) on the exchange.  This may have led to a public war of words between Alameda CEO Caroline Ellison and Binance CEO Changpeng Zhao, also the owner of a significant number of FTT tokens, as Binance's CEO, CoinDesk notes. FTT liquidated by Binance? According to Zhao, "as part of Binance's exit from FTX Capital since last year, Binance received approximately the equivalent of $2.1 billion in cash (BUSD and FTT). Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books." This could have led to a collapse in the price of the FTT token, which fell by more than 20 percent, and could also lead to a collapse in the prices of other cryptocurrencies. Ellison responded to Zhao's words by saying that Alameda would be ready to buy any amount of FTT that Binanace was willing to sell for $22. However, Binance's CEO countered that it would remain on the free market and liquidate FTT there. Source: Conotoxia MT5, BNB, Daily After the collapse of the Terra ecosystem, another unfavorable high-level thread seems to be emerging in the cryptocurrency world. The insolvency of exchanges is a topic widely discussed on social media. Some in the community may fear a repeat of the events of many years ago and the story of Canadian exchange QuadrigaCX, only on a much larger scale. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Read more reviews and open a demo account at invest.conotoxia.com Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
On Monday cryptocurrency market fear and greed index amounted to 33

On Monday cryptocurrency market fear and greed index amounted to 33

Kucoin Blog Kucoin Blog 08.11.2022 22:21
Table of Contents Crypto Market Overview Top Altcoin Gainers and Losers Crypto Fear & Greed Index This Week’s News Highlights Notable Events to Watch This Week Bitcoin (BTC/USDT) Technical Analysis Crypto Market Overview Bitcoin (BTC) and Ether (ETH) remained flat despite Fed Chairman Powell’s speech. Meta caused Arweave (AR) to spike by over 30% after announcing a major partnership. Google cloud hints at Solana validations. Lebanese run to cryptocurrency as the economy worsens. This week was a volatile one due to the several Fed activities that were held. The first was the monthly FOMC meeting held on November 1 and 2. All markets stood aloof during this period to listen to the Fed’s view concerning the current quantitative tightening.   While there was a lot of optimism heading into the meeting (and even as the Fed chairman said, “there is the fear they would overdo the tightening”), it was quickly dashed as Jerome Powell called the claims for a Fed Pivot “very premature.” The expected rate hike was 75bps, and the Fed delivered, but even the good jobs report that came out a few days later could not reverse Powell’s speech.   However, despite the news, Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, were unfazed. Bitcoin dropped by only 1% but recovered quickly.   In other news, Web 3 coins soared this last week after Meta platforms announced a partnership with Arweave to archive creators' digital collectibles. Arweave rose by 60% on the announcement, while others like Filecoin and Storj rose by more than 14% and 10%, respectively.     Cryptocurrency Market Heatmap | Source: Coin360   Google Cloud also caused a short spike in the price of Solana after it tagged Solana’s founder on Twitter with the words, “Should we tell our followers the big news?” Solana rose by over 15% on the announcement but went flat after google announced in a subsequent tweet that Google Cloud is running a block-producing @solana validator to participate in and validate the network.   Top Altcoin Gainers and Losers Top Altcoin Gainers Arweave (AR) âž  +39.53% Polygon (Matic) âž  +31.26% Chiliz (CHZ) âž  +27.87%   Top Altcoin Losers Klaytn (KLAY) âž  -18.34% FTX Token (FTX) âž  -12.17% Aptos (APT) âž  -10.38%   Fear & Greed Index at 33, Market Sentiment Bearish The Crypto Fear and Greed Index is still in the fear zone (33), as the Fed meeting showed no sign of a rate hike pause. This is still a positive sign from last month’s extreme fear value of 24. A major thing that can affect the Fear and Greed index this week is the US midterms.     Fear & Greed Index | Source: Alternative   This Week’s Crypto News Highlights The Talks on CBDCs Intensify Chatters from all over the world on CDBC have intensified in recent weeks. The first discussion came from the Reserve Bank of India (RBI), which announced the launching of the digital rupee starting on the first day of November. The pilot project will include the State Bank of India, and several other banks, including the State Bank of India, HDFC bank, Yes Bank, and Union Bank of India, amongst others. The goal of the CBDC launch is to foster transaction efficiency and reduce transaction costs.   Canada is another country that announced it is actively watching CDBC as the next step in its financial system. The North American country released its 2022 Fall Economic Statement that included the nation’s plan for digital currencies. The important part of the paper showed that the Canadian government believes CBDCs are transforming the financial systems, and Canada will need to ‘Keep Pace’ with the growing digital monetization trend.   This week, the third mention of CBDCs came from the Bank for International Settlements, which announced that it is partnering with three central banks – France, Singapore, and Switzerland – to research blockchain technology and CBDCs. The project tagged Project Mariana has been set to a tentative date of mid-2023 for delivering a proof-of-concept.   Mastercard Adds 7 Blockchain Startups to its Crypto Accelerator Continued support for cryptocurrencies has intensified with Mastercard’s crypto accelerator accepting 7 new blockchain startups into its program.   The selection announced on November 3, saw firms like Web3-focused social payments system provider Loot Bolt and the brand-oriented platform Uptop, amongst others, selected for the six-month accelerator.   MasterCard announced that the companies were selected due to their potential in bridging Web 2 and Web 3.   This is the eighth year the Mastercard accelerator will run, and during that period, it has supported over 300 startups, with a few going on to achieve unicorn status.   Lebanon Locals are Turning to Bitcoin, Tether Amidst an Economic Crisis A new analysis from Chainalysis sheds some light on the economic problems in Lebanon. The data, which showed that Lebanon has the second inflow of cryptocurrency in the MENA region, explains how Lebanese residents are leveraging cryptocurrencies to mitigate the bad economic condition of the country.   The country has grown to be a hotbed of crypto mining activities/ Bitcoin as a store of wealth after falling into a financial crisis in 2019. A mix of poor spending decisions and the aftermath of the coronavirus sealed the country's fate, and the nation was listed by World Bank in 2021 as one of the countries to be most severely affected in this century, except there is a major restructuring to its financial system. The two primary ways citizens are leveraging the crypto market include   Mining - The southern part of Lebanon has seen an unusual influx of residents, primarily owing to its cheap electricity. Some residents are purchasing Chinese mining rigs at a discount to start mining. A mix of these two has enabled miners to make a decent profit. Despite this, the government insists crypto mining is the cause of the long-existing electricity problem in the country and pays close attention to mining - both legally and illegally.   Payments with cryptocurrency - Several reports point to the nation's citizens using Bitcoin and stablecoins as a means of exchange, with the payment method gaining the most prominent amongst tourist centers. Many of them are even storing their funds as Bitcoin, instead of Banks, due to the collapse in the banking system and the heightened risk of theft. All these happen even as the nation’s laws prohibit cryptocurrency payments.   Nigeria’s E-Naira Failure was Not what Elites Hoped For Looking back at 1st anniversary of the eNaira, Africa’s first CBDC, the public reception has been underwhelming. Created and launched on high hopes of increasing remittances, fostering cross-border trade, and improving financial inclusion, the eNaira has since received low uptake.   More than a year on, multiple reports confirmed the project was a white elephant project.   According to the nation’s central bank, roughly $50,000 transactions are conducted through the CBDC daily, with 700,000 transactions done in one year. Considering Bitcoin’s daily transaction count of 257,000, it will take Bitcoin three days to match the eNaira’s yearly transaction.   Another noteworthy statistic about the CBDC shows that less than 0.5% (roughly 1 million) of the nation’s population have downloaded the eNaira App. This sharp rejection is a testament to the perception of poor leadership in the west-African country.   Binance Moves to Liquidate FTX Token Holdings Binance CEO Changpeng Zhao stated that he will sell the remaining FTT token holding. He added that this move is a part of his exit plan from FTX.   While the famous CZ did not state how much FTT will be sold, it’s known that Binance received roughly $2.1 billion worth of BUSD and FTT as part of its FTX exit last year.   The CEO of Alameda Research, the parent company to FTX, tweeted at Zhao and proposed a buyout at $22 per token as a way not to greatly impact the markets.   When it comes to money movements, a $583 million transfer (in FTT) has moved to a Binance exchange wallet over the weekend.   Numerous sources state that FTX’s books are not as good as they seem, and that they might hold too many illiquid assets that might trigger a domino effect if one thing goes wrong.   Crypto Calendar: Events to Watch This Week ➺ 7/11/2022 - Finpl NFT Sales Begin ➺7/11/2022 - Splinterlands Town Hall meeting ➺ 8/11/2022 - ErgoPad - Cryptoverse IDO Snapshot. ➺ 11/11/2022 - RHEGIC2 Reward Swap   Bitcoin (BTC/USDT) Technical Analysis Bitcoin continued its upward move this week, reaching a $21,400 price – a seven-week high – but the most intriguing is that it held its $20,000 support well, even after a mixed Fed signal. The asset was also less volatile than the US Stock exchange this week, as the Fed decision had more effect on the Nasdaq and S&P 500 than Bitcoin.     BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   The moving average convergence-divergence (MACD) caused a stir this week as the weekly convergence turned green. Although it is not a standalone indicator, it is often one of the first signs of a bear market bottom. As seen in 2021, when the weekly MACD and 30-day MACD end green above the histogram, there is a high chance for a bull run.   The prices to watch are the $20,400 support and the $21,467 resistance. Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today!   Follow us on Twitter >>> https://twitter.com/kucoincom   Join us on Telegram >>> https://t.me/Kucoin_Exchange   Download KuCoin App >>> https://www.kucoin.com/download   Also, Subscribe to our Youtube Channel >>>Listen to 60s Podcast Source: Weekly Crypto Analysis: BTC Remains Undeterred as Fed’s Powell Shakes Markets; FTX & Binance in Highlights| KuCoin
It's not clear we find out the results of mid-term elections immediately. Binance to buy FTX

It's not clear we find out the results of mid-term elections immediately. Binance to buy FTX

Ed Moya Ed Moya 08.11.2022 22:49
US stocks rallied as Americans head to the polls in what is expected to be an election that gives Republicans control of the House. ​ It might take longer than election night to get a final conclusion on the Senate. ​ The Senate is up for grabs as there are five races (Georgia, Pennsylvania, Wisconsin, Nevada, and Arizona) that polls suggest are a toss-up. There is a chance that we won’t find out the Senate result for weeks if the Georgia seat requires a runoff election. ​ ​ ​ 43 million Americans voted early and today’s turnout is expected to be strong as a plethora of issues are motivating Americans to cast their ballot. We might not get all the results tonight but it seems Republicans have a very good shot at gaining control of the House and that could be confirmed early tomorrow morning. At the Save America rally in Vandalia, Ohio, former President Trump announced he will be making a “big announcement” on November 15th. â€‹ It is widely expected that he will launch his 2024 presidential campaign. â€‹ A number of prominent Republicans do not support another Trump ticket, with many preferring Florida Governor Ron DeSantis. ​ It is a long time before Republicans have their candidate but regardless if it is Trump or Desantis, it seems they have a good chance in 2024. ​ ​ FX The dollar got crushed today as a short-covering move accelerated as investors embraced risk appetite ahead of the midterm elections and Thursday’s pivotal inflation report. â€‹ ​ The dollar fell to a six-week low as Treasury yields declined. â€‹ Cryptos take a tumble Cryptos are tumbling after a liquidity crunch for FTX led to their sale to a top competitor. ​ Today is a bad day in crypto. ​ Binance had to step in to save Sam Bankman-Fried’s FTX crypto exchange. ​ SBF has been the white night during this crypto winter and a liquidity crunch for him has triggered a wave of uneasiness across the cryptoverse. ​ Binance will buy FTX.com, which is the non-US unit that generates the lion’s share of revenue. ​ Financial terms were not disclosed. ​ This is a major setback for many investors in cryptos who viewed SBF as a white knight and one of the leaders in the space that was supposed to thrive once we got beyond this crypto winter. ​ Many crypto companies will likely be vulnerable to further selling pressure here given the current macro backdrop but that probably won’t deter a lot of the institutional money that is still coming in or is locked into the space. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Election Day, stocks rally, dollar short-covering, cryptos down on Binance rescue of FTX - MarketPulseMarketPulse
In The Coming Days Will Be The Final Consolidation Of Bitcoin

Over 50 thousand Zlotys Were Received By The Fraudster

InstaForex Analysis InstaForex Analysis 09.11.2022 09:36
Crypto Industry News: Yesterday (07/11), the US Department of Justice announced the acquisition of $ 3.36 billion in cryptocurrencies. US law enforcement agencies on November 9, 2021 searched James Zhong's home. The authorities then confiscated over 50,000 BTC which were worth around $ 3.36 billion at the time of the acquisition. In addition, over 600,000 were found. $ in cash and precious metals. In addition, in 2022, another several hundred Zhong bitcoins were found. In 2017, as a result of the BTC fork, over 50 thousand zlotys were received by the fraudster. Bitcoin Cash, which the criminal exchanged for around 3.5 thousand. BTC. Most likely, the cryptocurrencies received from other forks were also exchanged by Zhong for BTC, but the authorities only mention BCH. These funds were stolen by James Zhong in 2012 from the Silk Road portal. It was a trading platform operating in the Tor (darknet) network, where most of the offers concerned drugs and various psychoactive substances. The portal was launched in February 2011, and in October 2013 it was destroyed by US law enforcement agencies. Technical Market Outlook: The BTC/USD pair lost 19% from the top made at the level of $21,471. The price hit the level of $17,449 which is located below the technical support and the yearly low seen at $17,600. So far the bounce from this level was shallow and the market is trying to consolidate around the level of $18,486. The market conditions on the H4 time frame chart are extremely oversold, however, no significant bounce has been made yet. The nearest technical resistance zone is seen at $18,486, $18,563 and $18,658. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.       Relevance up to 09:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300256
The Ethereum Market Is In The Pull-Back Mode Now

Bitcoin (BTC) And Ethereum(ETH) Prices Are Being Pushed Closer To New Lows

InstaForex Analysis InstaForex Analysis 09.11.2022 09:41
Crypto Industry News: Cryptocurrency rates are dropping quite sharply as investors' concerns about the solvency of the FTX cryptocurrency exchange and the state of customer funds are pushing BTC and ETH prices closer to new lows, and the potential possibility of spilling into other markets negatively affects the entire cryptocurrency market. Earlier that day, Bitcoin BTC, the Binance BNB cryptocurrency, Ethereum ETH, FTX FTT token, and Solana SOL experienced a spike in the news that Binance would take over FTX, but the rebound was short-lived and ended quickly. After the Binance FTX news came out, BNB looked like the winner of the day, but the overall market crisis did not spare the stock token, which is currently $ 328, reflecting a loss of 2.6%. Concerns about the FTX stock exchange saw the market plummet after Binance's initial LOI for FTX spurred the markets to rise. According to reports, FTX was apparently trying to raise $ 6 billion in funding to fill a gap on its balance sheet, potentially putting the deal at risk. The cryptocurrency industry and regulators have long disagreed due to various misunderstandings or distrust of the actual use case of digital assets. Without a working framework for regulating the crypto sector, different countries and states have tons of conflicting rules about the classification of cryptocurrencies as assets and exactly what constitutes a legal payment system. Technical Market Outlook: The ETH/USD pair has made a new local low at the level of $1,266 in form of a Pin Bar candlestick and immediately started a dynamic bounce. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $1,191 (yearly low's). The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. The nearest technical resistance is seen at the level of $1,343. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300258
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Ex-head of MicroStrategy talks Bitcoin and Lebanon, where inflation soars

Alex Kuptsikevich Alex Kuptsikevich 08.11.2022 14:55
In this article Alex Kuptsikevich talks: Prices of digital assets Crypto funds investements Santander More The crypto market has lost over 5% in the last 24 hours, pushing capitalisation back below $1 trillion. The steep fall in FTT affected Bitcoin and Ether and has pulled a significant market spectrum. Bitcoin is now trading at $19.8K, with the most substantial losses coming in the Asian session, filled with algorithmic traders, pushing the price back to $19.4K at one point.     It is noteworthy that a sell-off did not follow the sell-off in the first and second cryptocurrencies in the markets. Once again, we are forced to guess whether crypto reflects the internal risk attitude of the financial markets or whether we have seen a short-term technical sell-off. In the former case, market sentiment will worsen during the day. In the second, BTCUSD will redeem during the day and further confirm the market's reversal to growth.   According to CoinShares, investments in crypto funds declined last week after a slight increase the previous week. Outflows amounted to $16m compared to inflows of $6m a week earlier. Bitcoin investments fell by $13 million, and Ethereum rose by $3 million. Investments in funds that allow shorts on bitcoin fell by $7 million. Investors have shown a lack of enthusiasm over the past eight weeks, CoinShares noted.   Santander may block transactions on cryptocurrency exchanges   Former MicroStrategy head Michael Saylor called bitcoin a "hope" for Lebanon, whose national currency has fallen 96% against the dollar, and inflation has reached triple digits. The Middle Eastern country has been in a deep financial crisis since 2019.   Twitter's new owner, Elon Musk, plans to postpone temporarily or entirely shut down the development of some of the projects announced by the previous administration, including, reportedly, work on a cryptocurrency wallet. The news has hurt Dogecoin, which has been growing in hopes of becoming the social network's digital currency. According to Reuters, UK bank Santander will block transactions on cryptocurrency exchanges in 2023 to protect consumers from fraud. Mining companies are being forced to sell off cryptocurrency mining equipment at a massive discount to cover losses from a falling market, The Wall Street Journal reported.
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Binance to take over other cryptocurrency exchange - FTX. JPMorgan executes a DeFi trade

Crypto.com Accelerate the... Crypto.com Accelerate the... 09.11.2022 10:36
FTX set to be acquired by Binance. Aave votes to deploy on zkSync v2 testnet. GALA crashed as pNetwork was misconfigured. Deribit halts withdrawals post-US$28M hot wallet hack. Weekly DeFi Index This week’s market cap, volume, and volatility indices were all positive at +4.39%, +33.21%, and +120.98%, respectively.         In preparation for its mainnet release, Chainlink announced that its Early Access Eligibility App for Chainlink Staking v0.1 has been launched. Chainlink Staking v0.1 is part of a broader initiative around Chainlink Economics 2.0, and the staking pool will initially be capped at 25 million LINK tokens, with plans to scale up to 75 million LINK over time. Project Spotlight Cronos ID announced the upcoming minting and public launch of 500 million Cronos ID native governance tokens, $CROID. This token will offer extended functional utility such as discounted prices for rare Cronos ID domain names. It also partnered with the Crypto DeFi Wallet, enabling users to send and receive tokens by using their (or their recipients’) human-readable Cronos ID “.cro” domains.  DeFi and NFT analytics platform DexCheck has integrated Cronos into its analytics platform, enabling the tracking of tokens, trades, or individual wallets. Check out the app on DexCheck.         News Highlight On Tuesday, FTX announced that the exchange will sell its non-U.S. business to Binance. This ‘strategic transaction’ was set in motion a day after FTX CEO Sam Bankman-Fried tweeted that the company and its assets were ‘fine’ (the tweet has since been deleted).  Matter Labs’ proposal to deploy Aave on the zkSync 2.0 testnet has been approved, following a unanimous vote by Aave community members. The vote marks the first stage of the decentralised lending protocol’s rollout to a zero-knowledge rollup. A suspicious address minted US$2 billion worth of GALA on the BNB Chain on 3 November. The newly printed GALA tokens were dumped to PancakeSwap and drained the BNB/GALA pool, earning approximately $4.5 million in the process. This was followed by GALA’s price dropping dramatically by 25.6%. Then, some arbitrageurs found the transactions and started buying GALA from PancakeSwap and selling the tokens on Huobi, causing a price crash from $0.04 to $0.0003 on the exchange. GALA Games confirmed that the cross-chain bridge it uses, pNetwork, initiated the minting to safeguard its liquidity pool from vulnerabilities. Banking giant JPMorgan executed its first live DeFi trade on a public blockchain as part of Monetary Authority of Singapore’s (MAS) Project Guardian initiative, which explores ways that financial institutions can leverage asset tokenisation and DeFi protocols.  U.S. dollar-pegged stablecoin Magic Internet Money (MIM) briefly dropped to nearly $0.95 on Tuesday due to the FTT token tanking. FTX’s native token FTT accounts for 33% of MIM’s underlying collateral, which saw a drop from $22 to $5 within 24 hours early this week.    Crypto exchange Deribit halted withdrawals after suffering from a security breach, with hackers taking away nearly $28 million. Deribit confirmed the attack has now been isolated and quarantined to its BTC, ETH, and USDC hot wallets, and developers have control of the exploit. Recent Research Reports     Research Roundup Newsletter [October 2022]In this issue, we cover our recent Bloomberg Terminal integration, special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. NFT Financialisation and Utility: An OverviewAs NFT utility grows, so does the potential to make money from them. Financialisation could help to achieve greater liquidity for and unlock the value of NFTs. NFT Utility: A Multifaceted Overview and Use CasesFor NFTs to increase in value and be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 2 Source: crypto.com
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Saxo Bank's Podcast: Huge Liquidity Pressures In The Crypto Space

Saxo Bank Saxo Bank 09.11.2022 12:41
Summary:  Today we look at the US mid-term election results, where the House looks set to flip Republican and the Senate may go down to a December 6th run-off in Georgia (as in 2020 and providing fodder for election denier conspiracy theories, etc...) but either way cementing the lame duck second half of Biden's presidency. Elsewhere, we look at the massive gold rally yesterday, in part on huge liquidity pressures in the crypto space that have prices tumbling there. Also, Tesla, Disney, stocks to watch, the USD on edge ahead of critical CPI release tomorrow and more on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting an on FX. Listen to today’s podcast - slides are available via the link. Follow Saxo Market Call on your favorite podcast app:           If you are not able to find the podcast on your favourite podcast app when searching for Saxo Market Call, please drop us an email at marketcall@saxobank.com and we'll look into it.   Questions and comments, please! We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.     Source: https://www.home.saxo/content/articles/podcast/podcast-nov-9-2022-09112022
The Bitcoin Price Movement Is In The Bullish Channel

The leading cryptocurrency reached a record-breaking price. Binance with a huge acquisition!

Alex Kuptsikevich Alex Kuptsikevich 09.11.2022 13:47
The cryptocurrency market lost another 7.7% to $900B over the past 24 hours, returning capitalisation to the area of September-October lows; at the peak of the decline, it was approaching the current market cycle lows set in June. Leading altcoins in the top 10 fell from 5.5% (BNB) to 22.9% (Dogecoin).   Dozen of hours ago, Bitcoin price touched $17.1K breaking some records At its worst moment of market capitulation on Tuesday night, Bitcoin was down to $17.1K, renewing 2-year lows. Many potential long-term investors in cryptocurrencies are now trying to assess whether we saw a final surrender yesterday, followed by a reversal. So far, we have doubts that the most worrisome part is behind us.   BTC's sharp decline earlier in the day came amid an abrupt collapse in one of the largest crypto exchanges FTX's own FTT token, which now trades at $4.6, having lost over 80% from $25.6 on Saturday. And all this on high trading volumes.   Another victim of the latest crypto chaos was Solana coin, which had lost 55% since Saturday before the crypto market went wild.   Did you know that FTX is (yet) no.3 largest cryptocurrency exchange?   On Tuesday evening, it was reported that Binance had agreed to acquire cryptocurrency exchange FTX amid investor panic and a liquidity crisis at what was once the third-largest cryptocurrency exchange. The news failed to stem capital outflows, and the cryptocurrency sell-off continued, albeit calmer. Despite some resolution, the news did not trigger a market recovery. Some experts say what has happened threatens the crypto market with significant disruption. Other observers point out that the collapse of the crypto market occurred on the day of the US congressional elections, which could have triggered selling in an environment of uncertainty, which is always bad for risky assets such as cryptocurrencies.
Sber And First Issue Of Gold-Backed Digital Financial Assets

Bitcoin: There Is An Important Signal For The Gradual End Of The Bear Market

InstaForex Analysis InstaForex Analysis 09.11.2022 14:09
Over the past month, theses have repeatedly appeared in the crypto space that Bitcoin has become less volatile than stock indices. However, the events of November 7–8 showed that the stability of an asset or market lies not only in a permanent stabilization movement, but also in the corresponding behavior of players during resonant events. Following the results of November 8, Bitcoin updated the local bottom, making a bearish breakout of the $17.6k level. At the moment, the asset price reached $17.1k, and even a sharp activation of buyers did not help Bitcoin recover at least above $19k. Over the past day, BTC/USD quotes have fallen by 8%; the weekly drop has reached 11%. A similar situation is observed on other cryptocurrencies, and the total capitalization has fallen to the $890 billion level. Given the long consolidation period, some assets managed to build up "muscles," which did not allow the market cap to fall to the previous minimum. Reasons for the fall of BTC/USD Friction between FTX and Binance served as an important trigger for the sharp drop in Bitcoin quotes and the update of the local bottom. The conflict situation, which can be confidently called a takeover attack, was resolved a few hours before the collapse of the crypto market. The situation can be compared to the collapse of Terra, given the venerability and assets of both players. Despite Binance's direct involvement in the conflict, we don't see a massive sell-off of billions of dollars of assets thanks to a deal to buy FTX. The decline of BTC to $17k accelerated due to significant negative factors in the crypto market. However, don't forget that huge amounts of liquidity were accumulated below the level of the previous local bottom. In the near future, we expect a long consolidation and trading of the $17k–$19.2k range. Results The fundamental nature of what happened highlights the complete break in the correlation between Bitcoin and stock indices. The S&P 500 continued its upward movement amid the collapse of the crypto market. At the same time, the US dollar index continued its correction and again tested the support level of 110. For the cryptocurrency market, the situation has worsened as the period of temporary thaw has ended. The collapse of one of the largest crypto exchanges plunged the market into fear, which means a massive outflow of liquidity and a new wave of bankruptcies. The main contenders for elimination from the race will be public mining companies. In addition to the difficult liquidity situation, the difficulty of mining BTC continues to increase, and according to the ratio of mining difficulty to price, the cryptocurrency is significantly undervalued. It is also important to note that the upcoming ban on mining in Europe due to the electricity crisis will have a painful impact on the position of the miners. Given this, it is the mining industry that will suffer mainly. BTC/USD Analysis After the events of recent days, there is no doubt that Bitcoin made a false breakout of the $20.4k–$20.8k resistance zone. The asset had enough strength to hold the $20k level over the weekend. However, we did not see an increase in on-chain indicators, which was the reason for the gradual decline in the price of the asset. A period of stabilization and consolidation will begin in the coming weeks. The $19.2k level looks like the top of Bitcoin's bullish efforts, and therefore the area below $19k will be most actively traded. It makes no sense to consider technical metrics and on-chain indicators since the market is in shock. Results The formation of the second local bottom of Bitcoin occurred due to a negative event comparable in scale to the collapse of Terra. At the same time, we did not see a decent response from buyers, which indicates that the market is in total fear, which is aggravated by the liquidity crisis. In the coming weeks, we should expect a lull in the crypto market, an outflow of capital and probably, aggravation of liquidity problems for a number of public companies. The update of the local bottom is an important signal for the gradual end of the bear market, but there is every reason to believe that the current fall will not be the last.   Relevance up to 10:00 2022-11-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326640
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

"Liquidity crisis" of FTX definitely doesn't play in favour of the digital assets market

Kenny Fisher Kenny Fisher 09.11.2022 23:30
US stocks declined as the midterm election results are still not clear, but still seems to favor a divided government outcome. ​ Wall Street is having an election hangover that most likely saw an end to Biden’s blue wave. ​ Traders can now go back focusing on everything with inflation. ​ Votes are still being counted and the Georgia Senate race will go to a runoff next month. ​ Republicans look like they will get the job done with taking control of the House, but their majority lead will be a small one. What is complicating today’s mood on Wall Street is that the liquidity crisis for FTX is spilling over into other cryptos. ​ FTX was viewed as one of the so-called safe crypto players and their demise is raising concerns that other key crypto companies could be vulnerable here. The Solana token has been in freefall as SBF’s trading firm, Alameda Research, was an early supporter of the Solana project. China Producer prices in China have fallen into negative territory for the first time in almost two years as both China’s domestic demand is weak and their key trading partners are entering recession territory. China is also continuing to struggle with COVID as Guangzhou has to return to mass testing. ​ Five of the 11 districts will have mass testing and that is leading to concerns that a relaxation in covid protocols might be distant. Oil Crude prices tumbled on concerns that China is losing this battle with COVID and after the EIA report showed stockpiles rose to the highest levels since July 2021. ​ The weekly oil inventory data showed gasoline demand bounced back and that should still support a moderating demand outlook. ​ Production jumped higher and above the 12 million bpd level, but no one is thinking this will continue. ​ Supplies are still mostly tight and that should help limit the selling pressure that is hitting crude prices. Oil’s weakness could have been much more significant if Republicans had a stronger performance last night. ​ A strong red wave by Republicans would have meant greater pressure to ramp up production and help make the US energy independent. Gold Gold prices are softening ahead of Thursday’s US inflation report. Bullion traders have seen this movie before; a rally before a key inflation report just to see strong selling pressure return after inflation shows it’s not ready to moderate that much. ​ Gold could consolidate around the $1700 level but if the strong dollar trade gains traction leading up to CPI day, selling pressure could target the $1685 region. Cryptos Sam Bankman-Fried was supposed to be bulletproof. SBF was crypto’s ‘White Knight’ and the implosion of FTX means no one is safe. The stabilization period for crypto is over and now we wait to see if other contagion risks emerge. Binance was expected to save the day and buy FTX.com, but the deal appears to have hit a roadblock. CoinDesk reported that Binance was unhappy in the due diligence stage after reviewing FTX’s internal data and loan commitments. Cryptos are under intense pressure as contagion risks remain elevated from the FTX liquidity crisis. No one wants to touch anything that has ties with FTX and that is troubling news. No one is talking about buying this crypto dip until we see FTX secure funding and exhaustion happens with the selling of other tokens with ties to it. ​ Bitcoin plunged below the $16,000 level as the crypto rout worsens. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. US Close: Election Hangover, China inflation and lockdown hopes, Oil drops, Gold rally stalls, Crypto Turmoil - MarketPulseMarketPulse
Meta Is Cutting Discretionary Spendings And Extending Its Freeze On Hiring

Meta Is Cutting Discretionary Spendings And Extending Its Freeze On Hiring

Saxo Bank Saxo Bank 10.11.2022 09:12
Summary:  Risk sentiment took a beating again as the midterms fever faded with a lack of a Republican wave, and focus shifted back to the crypto turmoil and continued surge in Covid cases in China. Tech layoffs also took another step up with Meta slashing 13% of its workforce. USD gained despite lower US yields as it is likely turning more risk-sensitive than yield-sensitive, but focus on US CPI will add to some caution ahead of the release. A hotter-than-expected core print will likely bring the focus back on Fed’s hawkishness. What’s happening in markets? The Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) dropped on crypto selloff, earnings disappointment, lower oil prices, and midterm elections S&P 500 plunged 2.1% and Nasdaq fell 2.4%. The sell0ff was board based with all 11 sectors of the S&P 500 in the red. The energy sector was the worst performer, falling 4.9% as crude oil prices down nearly 4% on rising US inventory levels. The collapse in crypto prices deepened, following Binance’s decision to walk away from its short-lived takeover bid for the ailing FTX. Robinhood Markets (HOOD:xnas) fell 13.8% as investors were concerned if FTX’s Sam Bankman-Fried might liquidate his 7.5% stake in Robinhood. Disney (DIS:xnys) plunged 13.2% on disappointing earnings. Meta Platforms (META:xnas) gained 5.2% after the company announced to layoff 13% of its employees to cut costs. US treasury (TLT:xnas, IEF:xnas, SHY:xnas) yields fell in a mixed session U.S. treasuries, in particular, the frontend of the curve were supported by selloff in equities and crypto, dovish comments from Fed Evans, and strong rallies in the European bond markets, seeing 2-year yields down 7bps to 4.58%, and 10-year yields falling 3bps to 4.09%. European bond yields dropped on the news that Russia was withdrawing its troops from Kherson, a Ukrainian regional capital city annexed by Russia less than two months ago. Chicago Fed president Charles Evans, who is retiring, said in an interview that there are “benefits to adjusting the pace as soon as” the Fed can and the Fed should not keep raising rates by a large amount every time on disappointing economic data. The 10-year auction did poorly with weak demand from investors but the market managed to shrug it off and had a strong close. Hong Kong’s Hang Seng (HSIX2) China’s CSI300 (03188:xhkg) The China reopening trade continued to fade on Wednesday as new domestically transmitted cases surged further to 8,176 the day before. Hang Seng Index retreated 1.2% and CSI 300 slid 0.9%. China’s CPI fell to 2.1% Y/Y and PPI declined 1.3% Y/Y in October, signaling weak domestic demand. Share prices of Chinese developers however surged, following Chinese authorities saying that they were expanding an existing credit support programme by RMB250 billion to help private enterprises, including developers, in raising debts, by providing debt insurance or bond buying. Country Garden (02007:xhkg), up 13.9%, Longfor (00960:xhkg), up 4%, were top performers in the Hang Seng Index. After trading 1% to 4% lower during the Hong Kong session, China Internet names continued to face selling pressure overnight in New York, with ADRs of Alibaba (09988), Tencent  (00700:xhkg) ,and Meituan (03690:xhkug)  each falling around 3% from their Hong Kong closing levels. FX: USD gains return as risk sentiment deteriorates The USD was back on the front foot on Wednesday ahead of the critical US CPI data due today. US midterms still ended in a political gridlock, even though a Republican wave was avoided. However, limited implication on policy means market focus can return to other key events, such as the crypto turmoil and further rise in China’s Covid cases. US 10-year yields dropped below 4.1% but it appears that the USD is not more risk-sensitive rather than being yield-sensitive. Geopolitics turned calmer with Russia retreating from the only Ukrainian regional capital captured, Kherson, but that brings some risk of new escalations as Putin gets desperate. Focus on US CPI however brought some weakness back in the DXY in early Asian hours with USDJPY back below 146.20. GBPUSD bounced back after a brief slide below 1.1350 and the EUR bounced back higher from parity. Crude oil (CLZ2 & LCOF3) WTI futures dipped further below $90/barrel mark, now touching the $85 handle, while Brent moved lower to sub-$93. Oil prices declined as the EIA reported US crude stocks rose by 3.9 million barrels to the highest since July 2021. This was offset by tightness in the fuel product markets. Gasoline inventories fell by 900kbbl, and distillate fuel stockpiles fell by 521kbbl. Meanwhile, sustained rise in Covid cases in China continued to take a hit on the demand outlook. New cases in Beijing jumped to the highest level in more than five months. Of particular concern was the number of infections found outside quarantine, suggesting the virus is still circulating through the community and would likely delay the easing of Zero Covid policies. Wheat (ZWZ2) prices lower, along with Corn, after USDA report The USDA released it’s November World Agricultural Supply and Demand Estimates report, which led to mixed but mostly lower grain prices. While the overall wheat consumption outlook was raised, USDA said demand may drop in some places, including Indonesia and Sri Lanka, due to high prices. Wheat prices plunged 2.5%. The agency also lifted its soybean output and stockpiles outlook, but robust export demand lifted prices. Meanwhile, USDA expects to see the seventh-largest corn crop on record this year, with a new estimate of 13.93 billion bushels.   What to consider? US midterms avoided a Republican wave Even with votes still being counted and runoffs yet to come to determine the US Senate majority, the midterm election didn't bring the red wave that was expected. Republicans are inching towards control of the House, but with a far narrower margin than what was predicted. Meanwhile, Democrats are likely to keep their majority in the Senate but the outcome won’t likely be confirmed for a while as Georgia heads to a runoff on December 6. The end result is still a political gridlock, much as expected, but with far smaller market implications given lack of a firm policy direction. US inflation to test the 8% level, watch core and stickier components Bloomberg consensus expects US October CPI to drop below the 8% mark and come in at 7.9% YoY from 8.2% previously, but still higher at 0.6% MoM from 0.4% in September. The core measure is also expected to ease slightly to 6.5% YoY, 0.5% MoM (prev. 6.6% YoY, 0.6% MoM) but still remain elevated compared to historical levels. Key to watch also will be the drivers of inflation, particularly the stickier shelter and services costs, which if stuck higher could move the December Fed funds future pricing more towards another 75bps rate hike, resulting in another round of selloff in equities and dollar gains. However, there is another CPI report due before the next Fed meeting in December, and we are going into today’s release with a weak risk sentiment following the crypto meltdown seen this week. This suggests that even a print that matches expectations, or is above it, will likely bring another selloff in equities and further support for the dollar. Binance walked away from FTX acquisition, another plunge in Bitcoin The contagion in the crypto and equities we mentioned yesterday is already here, and getting worse as latest developments suggest that Binance backed away from its earlier pledge, tweeting Wednesday afternoon that it would not pursue the acquisition of FTX. It cited due diligence and a reported US investigation into the exchange. Bitcoin plunged below $16,000, , while Ether followed and dipped to its lowest price since July, barely hanging on to the $1,100 level. China is in disinflation China’s PPI declined 1.3% Y/Y in October due to falls in energy and materials prices and weaknesses in metal processing. CPI inflation was also weaker than expected and fell to +2.1% in October from 2.8% in September on weak consumer demand, falling residential costs, and declines in vegetable prices. Meta to layoff 13% of its workforce Meta’s Mark Zuckerberg announced the social platform’s plan to layoff over 11,000 employees, about 13% of its workforce. Zuckerberg also said Meta is cutting discretionary spendings and extending its freeze on hiring through Q1 2023. The company reaffirmed its Q4 revenue guidance of USD30-32.5 billion, in line with expectations. Capex for 2023, according to the Company, will be in the range of USD34-37 billion, at the low end of prior guidance of USD34-39 billion.   For our look ahead at markets this week - Listen/watch our Saxo Spotlight. For a global look at markets – tune into our Podcast.   Source: https://www.home.saxo/content/articles/equities/market-insights-today-10-nov-2022-10112022
In Crypto, You Could Prove You Own A Private Key Without Revealing It

FTX Drama Got Worse | Eyes On The US Inflation Data

Swissquote Bank Swissquote Bank 10.11.2022 10:11
Less aggressive support for the Republicans, and more importantly, looming uncertainty, are the major factors that weighed on investor sentiment yesterday. The S&P500 slid more than 2%, Dow Jones lost 1.95%, while Nasdaq dumped 2.40%. The selloff was also fueled by the shaking crypto markets, and perhaps some investors taking risk off the table before the US inflation data, due today. Crypto In cryptos, watching, what used to be the world’s 4th biggest crypto exchange go under the water, triggered panic across the sector, getting investors to question, whether FTX is an isolated case, or this is just the tip of the iceberg, and if and how many of the cryptocurrency exchanges may haves similar insolvency problems, that are only waiting to get revealed. FX & commodities In FX & commodities, US dollar rebounded yesterday on the back of a better-than-expected Democrat results, and some repositioning before today’s inflation data, gold held ground above $1700 per ounce, while US crude fell on China Covid news and weekly rise in US oil inventories.On the geopolitical front, news that Russia announced to pull out troops from Kherson triggered mild, and short-lived gains in equities. US inflation data On the data front, investors hold their breath before the US inflation data due today. Headline inflation in the US is expected to have eased from 8.2%, to 8% in October, and core inflation is seen softer at 6.5%, compared to 6.6% printed a month earlier. PS: in six of the prior seven months, inflation exceeded expectations. So, there is a good chance that it’s the case this time around as well. Watch the full episode to find out more! 0:00 Intro 0:30 Menu du jour 0:54 Republicans gained field, but less than expected 1:46 FTX drama got worse, cryptocurrencies fell 5:03 US inflation in focus 6:07 Some earnings & company updates 7:00 FX and commodities 8:26 Russia pulls troops out of Kherson Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #FTX #FTT #selloff #Binance #Bitcoin #Ethereum #US #midterm #election #2022 #inflation #data #Russia #Ukraine #war #USD #EUR #XAU #CrudeOil #Disney #Roblox #Meta #Amazon #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH      
The Bitcoin Fall Will Likely Continue In The Future

Zhao: FTX Turned To Binance For Help | Bitcoin's Price Is Located Below The Technical Support

InstaForex Analysis InstaForex Analysis 10.11.2022 10:13
Crypto Industry News: After Binance CEO Changpeng Zhao announced that the company would liquidate its position in FTX Tokens, FTX CEO Sam Bankman-Fried (hereinafter SBF) became active on social media, apparently trying to suppress rumors of a conflict between major exchanges. According to Bankman-Fried's Twitter posts today, FTX "came to an agreement on a strategic deal" with Binance after trying to clear the backlog of payouts. SBF said it asked Binance to step in with the aim of "eliminating liquidity crises" and covering assets on a 1: 1 basis. Zhao issued his own statement on Twitter, saying FTX turned to Binance for help on November 8 in response to the "major liquidity crisis". According to the Binance CEO, the transaction SBF mentioned was a non-binding letter of intent to acquire FTX. Technical Market Outlook: The BTC/USD pair lost over 27% from the top made at the level of $21,471. The price hit the level of $15,555 which is located below the technical support and the yearly low seen at $17,600, so the bears made a new yearly low during the sell-off. So far the bounce from this level was shallow and the market is trying to test the level of $17,600 again. The market conditions on the H4 time frame chart are extremely oversold, however, no significant bounce has been made yet. The nearest technical resistance zone is seen at $17,600 $18,150 and $18,220. Weekly Pivot Points: WR3 - $21,429 WR2 - $21,125 WR1 - $20,930 Weekly Pivot - $20,825 WS1 - $20,629 WS2 - $20,524 WS3 - $20,222 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $17,600 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300441
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Meta Will Begin Cutting 11,000 Employees | A New Local Low In The Ethereum Market

InstaForex Analysis InstaForex Analysis 10.11.2022 10:19
Crypto Industry News: Facebook's parent company Meta will begin cutting 11,000 of its 87,000 employees on Wednesday morning, the company said on Tuesday. Meta CEO Mark Zuckerberg released a statement explaining why the company is making the cut and what went wrong in the development of the tech giant and social media: "We are basically making all of these changes for two reasons," he wrote. "Our revenue forecasts are lower than expected earlier this year, and we want to make sure we're operating efficiently with both Family of Apps and Reality Labs." Zuckerberg said he believed the prediction that the massive pandemic-induced rise in e-commerce would represent a lasting shift in consumer behavior, and invested the company's resources accordingly. "Unfortunately, it did not go as expected," he said. "Not only has online trading failed to return to previous trends, but the macroeconomic slowdown, increased competition and loss of ad signal have resulted in our revenues being much lower than expected." I made a mistake and I take responsibility for it. The company announced that the layoffs will affect every organization in Family of Apps and Reality Labs, but recruiting staff will be "disproportionately affected" by the company's extended job freeze, and that business teams will also be "cut more significantly." In addition to the layoffs, the largest in the company's history, Zuckerberg outlined several other austerity measures, including reducing budgets and benefits and reducing the company's presence in the real estate market. Zuckerberg said the company will focus its resources on "fewer high priority growth areas," including the AI engine, advertising and business platforms. The meta lost more than $ 80 billion in market value in October after it reported a profit of $ 4.4 billion, down 52 percent in the third quarter. On February 3, the company saw its biggest one-day slump in U.S. history, shedding $ 230 billion in market value after exceeding targets for Q4 2021. But despite investors and tech experts pointing to the company's exaggerated virtual reality hopes and investment as the main reason behind Meta's underperformance, Zuckerberg listed his "long-term meta-universe vision" among his top priorities for the future. Technical Market Outlook: The ETH/USD pair has made a new local low at the level of $1,077in and immediately started a dynamic bounce towards the level of $1,191. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $886 (yearly low's). The momentum is weak and negative already on the H4 time frame chart, so the down move might continue lower. The nearest technical resistance is seen at the level of $1,191 - $1,219 (old demand zone, now will act as the supply zone). In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,635 WR2 - $1,605 WR1 - $1,587 Weekly Pivot - $1,575 WS1 - $1,557 WS2 - $1,544 WS3 - $1,514 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300443
Age Is The Dominant Factor In Cryptocurrency Investing

Among digital assets, Solana was one of the top losers, falling by almost 50% as FTX CEO's Alameda Research held loads of tokens

Alex Kuptsikevich Alex Kuptsikevich 10.11.2022 10:39
Major digital assets Bitcoin rewrote two-year lows on Thursday morning near $15,550, losing more than 27% from Saturday's local highs. CoinMarketCap estimates the total capitalisation of the crypto market to be at 839bn, down 6.7% from levels 24 hours ago and 21% below Saturday's peaks. Ethereum is now a third cheaper than levels at the end of last week, and its sell-off started noticeably from the 200-day moving average, which had previously acted as resistance in April. Near the $1070 mark, there is a noticeable strengthening of buying, as in July. The crypto market is now in a panic liquidation phase, occurring amid a raid on cryptocurrencies, which can be compared to the bank run in the early 20th century. The fundamental difference is that banking was already an established business back then, although regulation was in its infancy. The current crisis may be the catalyst for crypto regulation. If we look at the situation from a market speculator's perspective, we are in the process of capitulation. Such moments often precede long-term reversals. But it is worth realising that despite Bitcoin's 5% rebound from the start of the day and the double-digit rise in yesterday's casualties, the sell-off may not yet be over. In our view, the crypto market is now in the same phase where it was in late 2018 when the bulk of the decline was behind it, but the best speculative buying moment was still a year away. Nickel Digital Asset Management's survey and Solana price free fall The prolonged, almost 5-month sideways slide has relaxed market participants. The sharp fall in crypto assets took traders by surprise. Investors have been forced to sell off cryptocurrencies to cover losses on loans secured against them due to margin calls. The FTX exchange itself, along with Alameda, may also have been selling off assets. The most significant drop in the top-100 crypto was Solana, which collapsed by 49%, as one of the largest holders of SOL was Alameda Research, the investment company of FTX exchange head Sam Bankman-Fried. Marathon Digital CEO Fred Thiel said his mining firm was the second-largest public company in the world (11,300 BTC) in terms of bitcoins stored, thanks to its retention of mined BTC. MicroStrategy remains the leader, with around 130,000 BTC stored in its wallets. According to a survey by Nickel Digital Asset Management, 92% of professional investors are optimistic about the outlook for the cryptocurrency market, despite its decline.
US Inflation Forecasted at 3.3%, UK GDP Projections at 0%, Fed Member Harker's Views on Rates

Today’s US Inflation Report Becomes Even More Important

Craig Erlam Craig Erlam 10.11.2022 12:04
We’re seeing some risk aversion in financial markets on Thursday as we await inflation data from the US later in the week. It probably won’t come as a surprise to many that we’re seeing stock markets in the red considering how well they’ve performed in recent days and weeks. It would appear we’ve seen a lot of buying on the hope of a Fed pivot and some weaker inflation and labour market figures. Well, the Fed kind of pivoted but indicated that the terminal rate may be higher. The labour market is still extremely tight and Friday delivered another hot report. Big tech seems to find itself in the minority in terms of its decision to let go of large numbers of staff, with Twitter and Meta most notably making huge redundancies in recent weeks. With neither the Fed nor the labour market fully delivering – and one could argue they never were likely to – today’s inflation report becomes ever more important. Another hot reading could be the latest in a growing list of setbacks for investors, who have been all too keen to buy at discounted levels in the hope the data rewards them. So far it hasn’t. That will turn at some point of course and this could be that moment. The million-dollar question is how fast will it fall. As this will ultimately determine the Fed’s response. The best thing about a slower pace of tightening is that it allows time for the data to justify smaller rate hikes and an eventual end to the tightening process. Without it, the Fed will be in a very uncomfortable position of blindly weighing up inflation, recession and overtightening risks. Is FTX a one-off? Bitcoin is trading up more than 5% today but that comes following two terrible days for cryptos. Bitcoin fell more than 25% from the start of trade on Monday before finding some support around $15,500 and recovering slightly. The situation at FTX has unravelled at a remarkable pace, culminating on Wednesday evening with Binance bailing on its rescue offer following some due diligence and new allegations. The ripple effects throughout the industry have been severe so far, with the fear not just being which other tokens could be exposed but whether similar vulnerabilities exist elsewhere. As Warren Buffett says, it’s only when the tide goes out that you learn who has been swimming naked. Well, it may well be on its way out and traders are fearing what it will uncover. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Technical Outlook Of The Further Movement Of Bitcoin

A Recovery Movement Of Bitcoin (BTC) Is Not Expected

InstaForex Analysis InstaForex Analysis 10.11.2022 13:02
The situation in the cryptocurrency market continues to worsen due to a series of negative events that have formed as a result of the probable bankruptcy of FTX. Market capitalization fell by 5% over the past day and reached $840 billion. Pandora's Box The situation around FTX has become a Pandora's box for the crypto market and provoked further outflow of funds from most exchanges. Over the past day, $1 billion in ETH, $950 million in USDC, $400 million in USDT and $195 million in BUSD have been withdrawn from centralized platforms. Binance also confirmed its exit from the deal to buy FTX, which caused the altcoin Solana to drop to $12. More than $300 million is expected to be withdrawn from SOL staking today, which is highly likely to be sent to the order book. In addition, Bitcoin has finally consolidated below $17k, and as of November 10, it is trading near the level of $16.7k. Over the past day, the asset has lost 6.5% of capitalization, which brings the asset closer to the cost price level. JPMorgan experts say that the price of BTC is approaching the average value for the cost of production. A fall in Bitcoin quotes below this indicator can cause a cascade of margin calls from large investors and mining companies. Crypto mining companies are also going through hard times after BTC falls below $20k. It is likely that soon we will see the resumption of the process of capitulation of miners and the bankruptcy of some companies. The total losses of the crypto market over the past three days exceed $1 billion. Some crypto influencers are confident that the FTX bankruptcy will be the starting point for the industry in a series of bankruptcies of large companies. First of all, we will see the completion of the history of a number of mining companies and decentralized crypto platforms. Inflation statistics On November 10, monthly statistics on the dynamics of the consumer price index will be published. Despite the harsh rhetoric of the Fed, experts from leading US banks said that a more rapid fall in inflation is expected in the coming months. Given the likelihood of a favorable outcome for the CPI, today may be a necessary recovery pause for the market. At the same time, it is important to understand that the inflation data will cause additional unrest in the market; therefore, the movement of quotes of fixed assets will become unpredictable. Despite the deplorable nature of the current situation, the markets see light at the end of the tunnel in the spring of 2023. According to expectations, the Fed will raise the rate by 0.5% in December and February, followed by monetary policy easing. BTC/USD Analysis Bitcoin finally said goodbye to the main range of fluctuations of the last five months and consolidated below $17k. Given the tension of the situation and a lot of negative factors, there is every reason to expect a further fall in the price of BTC. Among the most likely targets, it is worth highlighting the $15.8k level, which the price has already tested. In the coming days, we should expect a retest of this indicator, followed by a pullback. Looking back at the 2018 fractal, there is every reason to believe that Bitcoin will find a bottom below $12.5k. In the short term, we see signs of buying activity. The technical metrics on the daily chart point to an increase in bullish sentiment and an attempt to gain a foothold above $17k. The Stochastic has formed a bullish crossover, while the RSI has rebounded from the lower border of the bullish zone and continues to move up. Results It is not worth expecting a recovery movement of BTC without an admixture of manipulation in the coming weeks. The crypto market is entering the final phase of the correction, which will confirm the cyclical fall in Bitcoin quotes by 85%. As of November 10, the asset has fallen by 77%, and therefore there is room for further decline. Given this, the $15.8k level is unlikely to be the bottom of the current cycle. The combination of negative factors and historical accuracy suggest that BTC will form a bottom near $11k–$12.5k.     Relevance up to 11:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/326778
The South America Are Looking For Alternatives To The US Currency

Dollar isn't that strong at the moment, if inflation persists to go down, Oanda's analyst seems to hint at the pit of stocks prices

Ed Moya Ed Moya 10.11.2022 21:29
This inflation report was a nice surprise. ​ Inflation has been very slow to come down, but this report gives up hope that this deceleration with pricing pressures might bring back hopes of a soft landing. The headline reading came in lower-than-expected, but most traders were focused with the month-over-month decline with core prices. ​ If this downward trajectory for inflation holds, then you can make a strong case that the bottom is in place for US equities. US stocks are rallying as Wall Street finally sees light at the end of the Fed’s tightening cycle tunnel. ​ This cool inflation report helped stocks post their best trading day in two years. ​ Treasury yields are in freefall, the dollar is tanking, and practically every risky asset is rejoicing over this inflation report. ​ ​ Inflation ​ ​ ​  Inflation has peaked but don’t hold your breath waiting for it to get to target. Inflation is cooling after the core reading only posted a 0.3% monthly increase. ​ The headline reading dropped more than expected to 7.7% from a year ago, which is noticeably better than the peak reading from June of 9.1%. Inflation almost always proves to be stickier, so traders should not be surprised if the descent in pricing pressures takes a little while longer. Good prices have been coming down and that was supported by lower readings from cars, apparel, and energy services. ​ Wall Street is closely watching shelter prices, which rose 0.8%, the most since 1990. ​ There was some optimism with housing affordability as the monthly gains slowed for rents. ​ Shelter prices always take the longest to come down, so investors will expect this key contributor to core PCE to remain hot for another quarter. ​ This inflation was a good sign that the Fed is on the right path to winning this war with inflation, but there will still be a lot of variables thrown its way over the next couple of quarters. ​ The Fed could easily bring rates to 5.00% and if inflation proves to be stickier, it could be as high as 5.50%. ​ FX King dollar has left the building after a soft inflation report cemented the Fed’s downshift to a slower pace of tightening and revived hopes of a soft landing. The price reaction to this inflation report was a bit excessive but could be justified if the next couple of inflation reports are just as cool. ​ ​ ​ ​ Cryptos A dark crypto period was supposed to begin following the FTX debacle, but a cooler-than-expected inflation report gave every risky asset a massive boost. ​ FTX contagion risks remain elevated and while today’s broad-based crypto rally is rather impressive with bitcoin rising over 10% and ethereum surging by 16%, investment into cryptocurrencies will likely struggle here as too many key institutional investors and crypto companies have money tied up with the bankruptcy bound exchange. ​ Until we see which players were impacted by FTX and if we see other exchanges vulnerable to a liquidity crunch, any crypto rebound might be faded. More details about the actions of FTX will lead to harsher regulatory guidelines for all crypto exchanges. ​ Reportedly FTX used customer assets for risky trades, which means it seems unlikely anyone will want to rescue this company. ​ ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Inflation cools, stocks post best day in two years, bye-bye king dollar, FTX debacle, cryptos rally on soft CPI - MarketPulseMarketPulse
Bank Indonesia Maintains Unchanged Rates Amidst Inflation Stability and IDR Pressure

The remainder of the earnings season looks outstanding. Midterm elections are on the way, FTX faces headwinds and Nvidia, Walmart, Cisco are yet to release their results

Conotoxia Comments Conotoxia Comments 10.11.2022 21:52
As we slowly approach the end of the results season, we found ourselves with elections for the Senate and House of Representatives in the United States, after which we would find out whether Joe Biden's party would retain its majority in those chambers. In addition, we encountered a slump in the cryptocurrency market caused by the problems of the FTX exchange. Macroeconomic data This week it seems that we were able to relax relatively after last week's FOMC decision to raise interest rates in the United States and the announced use of all means by the Fed to choke off inflation. On Wednesday, we learned of the change in U.S. crude oil inventories, which rose by 3.25 million barrels (1.36 million barrels were expected) compared to the last period, in which they declined by 3.115 million barrels. We learned the results of the CPI inflation rate, which amounted to 7.7% y/y. (forecast 8 percent y/y). It seems that inflation surprises for another month in a row, falling, which could be perceived as a positive signal for the markets. Elections for the Senate and House of Representatives in the United States were held on Tuesday. The vote counting is still underway, but Republicans are in the lead in both chambers. Stock market On Monday, we were able to learn the results of gaming giants Activision Blizzard (Blizzard) and Take-Two (TakeTwo), among others. The former surprised positively, reporting earnings per share EPS of 0.68 (forecast 0.51). The second posted a loss per share EPS of -1.54 (forecast 1.38), in addition to reporting lower revenue than expected. Source: MT5, Blizzard, Daily On Tuesday, we learned the results of media giant Walt Disney (Disney), which reported a decline in earnings per share EPS to 0.3 (forecast 0.59). It seems that the entertainment industry is not doing well, which could support the thesis of the current economic slowdown. Today we were also able to learn how the medical industry has performed recently. Among other things, we learned about reports from the maker of medications and vaccines AstraZeneca (AstraZeneca), which showed earnings per share more than doubled relative to expectations. Medical instrument and machine manufacturer Becton Dickinson (BDickinson) showed earnings per share of 1.99, in line with expectations, on increased revenues. Elon Musk appears to be having problems with his workforce after taking over Twitter. After massive layoffs at the company, we could learn from the media about mistakes in this aspect and the dismissal of valuable employees, whom the billionaire seems to be trying to recruit back. Currency and cryptocurrency market After the publication of inflation from the US, the EUR/USD exchange rate broke out above parity and reached around 1.016 at its peak. It seems that the market needs to update its valuation when it comes to the announced US interest rate hikes, which may put pressure on the USD. Source: MT5, EURUSD, Daily Blood has been shed in the cryptocurrency market. After the largest crypto exchange Binance announced the sale of the FTT token (FTTUSD.p) belonging to the third largest FTX exchange, the price of the cryptocurrency fell from $26 to $2.7 (89 percent). This situation revealed the problems behind this exchange. This seems to have led to a massive outflow of capital from the virtual money market, as we could see from the largest of them. Bitcoin fell by more than 20 percent during this period, and the price of the second largest cryptocurrency ETH fell by about 28 percent. Source: MT5, FTTUSD.p, Daily What's in store for us next week? On Monday we would learn the GDP reading in the Cherry Blossom country. The current quarter-on-quarter forecast is for growth of 0.3 percent (previously 0.9 percent). China's reported year-on-year change in industrial production may seem key. The forecast, according to analysts, is for an increase of 5.2 percent (previously 6.3 percent). On Tuesday, we'll learn the results of Germany's ZEW economic sentiment index, which recently reached -59.2 points, where values below zero signify deteriorating economic conditions. On Thursday, we would find out how much inflation in the Eurozone was (forecast at 10.7 percent). Among the key Q3 earnings reports it seems we could count Monday's results from the largest retailer in the United States, Walmart (Walmart). On Tuesday, graphics card giant Nvidia (Nvidia) would present its report, along with one of the largest digital communications technology conglomerates Cisco (Cisco).Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read the article on Conotoxia.com
WTI Oil Shows Signs of Short-Term Uptrend Amid Medium-Term Uptrend Phase

The US Dollar (USD) Suffered Heavy Losses | UK Gross Domestic Product (GDP) Grew

TeleTrade Comments TeleTrade Comments 11.11.2022 09:05
The upbeat market mood remains intact on the last trading day of the week as investors cheer the soft inflation data from the US and news of China easing the Covid-related restrictions. The US Dollar Index continues to edge lower below 108.00 after having lost more than 2% on Thursday and global stock indices push higher. Bond markets in the US will be closed in observance of the Veterans Day holiday but Wall Street will operate at the usual hours. The US economic docket will feature the University of Michigan's Consumer Sentiment Survey (preliminary) for November and investors will keep a close eye on central bank speakers ahead of the weekend. The US Bureau of Labor Statistics announced on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 7.7% on a yearly basis in October from 8% in September. The Core CPI, which excludes volatile food and energy prices, fell to 6.3% from 6.6% in the same period. With both of these readings coming in below market expectations, the CME Group FedWatch Tool's probability of a 50 basis points Fed rate hike in December jumped above 80% from 50% earlier in the week. In turn, major equity indexes in the US registered impressive gains, the US Dollar suffered heavy losses and the benchmark 10-year US Treasury bond yield declined toward 3.8%, losing nearly 7% on the day. US Inflation Analysis: Hiking is hard in the fog, Dollar set to decline (until the next CPI). Earlier in the day, China's National Health Commission announced that they have decided to reduce the required quarantine times for travellers and people who had close contact with identified Covid cases. The Shanghai Composite Index was last seen rising nearly 2% on the day and Hong Kong's Hang Seng Index was up 6.8%. Reflecting the risk-positive market environment, US stock index futures are rising between 0.5% and 0.7%.  The UK's Office for National Statistics (ONS) reported on Friday that the Gross Domestic Product (GDP) grew at an annualized rate of 2.4% in the third quarter, compared to the market expectation of 2.1%. Other data from the UK showed that Industrial Production expanded by 0.2% on a monthly basis in September. GBPUSD largely ignored the latest data and was last seen moving sideways slightly above 1.1700. EURUSD registered impressive gains on Thursday and continued to edge higher during the Asian trading hours on Friday. The pair was last seen trading at its highest level since mid-August slightly above 1.0200. USDJPY lost more than 400 pips on Thursday and touched its weakest level in seven weeks near 140.00 before staging a rebound on Friday. At the time of press, USDJPY was up 0.5% on the day at 141.65. Fueled by plunging US Treasury bond yields, gold price rose nearly 3% on Thursday and registered one of its largest one-day gains of the year. XAUSD is currently trading above $1,750 and it's up nearly 5% since the beginning of the week. Bitcoin gained 10% on Thursday after having lost more than 20% in the first half of the week. BTCUSD, however, seems to be having a difficult time gathering bullish momentum early Friday as markets keep a close eye on developments surrounding the FTX drama. As of writing, Bitcoin was down nearly 2% on the day at $17,250. Ethereum trades in negative territory at around $1,250 early Friday following Thursday's 17% gain. California financial regulator announces FTX investigation. Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos bounce as FTX CEO vows to do right by investors.
DPX Token Registered A 24-Hour Return Of 11.11%

The Venus Protocol Is Completely Controlled By The Community

Binance Academy Binance Academy 12.11.2022 10:52
TL;DR Venus Protocol is an algorithm-based money market system on the BNB Chain. It aims to allow users to lend and borrow cryptocurrency in a decentralized and secure way. The protocol is permissionless, so anyone can start using it by connecting crypto wallets like MetaMask. Venus Protocol's community owns and controls the protocol through its native governance token, XVS, which can be staked in the Venus Protocol Vault to earn token rewards. Introduction Decentralized finance (DeFi) has begun to offer an increasing number of services typically associated with traditional finance. With Venus Protocol, users can permissionlessly lend or borrow from a pool of assets, and suppliers of collateral can benefit from their passive funds. However, instead of a centralized player handling transactions, the protocol automates the process using technologies such as smart contracts. Learn more on Binance.com What is Venus Protocol and how does it work? Venus Protocol is an algorithmic money market and synthetic stablecoin protocol. Traditionally, the money market is an essential part of the economy that deals with short-term loan needs. Now, however, Venus is bringing decentralized finance (DeFi) lending and borrowing onto the BNB chain. It also allows collateral suppliers to mint the platform's native synthetic stablecoins (VAI) by over-collateralizing positions. Venus Protocol is a fork of Compound and MakerDAO. Both are Ethereum-based, with the first being a money market protocol and the second, a stablecoin minting protocol. Venus integrates these functions into one, allowing users to utilize the same collateral within one ecosystem, regardless of which function they use. You can think of the Venus Protocol as a permissionless lending environment. Firstly, it allows BNB Chain users with idle cryptocurrency to supply collateral to the network. Secondly, users who need more can borrow by pledging over-collateralized cryptocurrency. Lenders then receive compounded annual interest rates, while borrowers pay interest on their respective loans. The interest rates for lending and borrowing are set by the protocol in a curve yield that varies based on utilization. These rates are automated according to the demands of the specific market, such as BNB or ETH. However, the protocol’s governance process also sets minimum and maximum interest rate levels. Synthetic stablecoin minting takes place using vTokens, from the collateral users provide to the Venus Protocol. vTokens represent deposited collateral — for example, users receive vUSDT for supplying USDT, which they can later redeem for the underlying collateral. Users can also borrow up to 50% of the collateral value they have on the protocol from their vTokens to mint VAI. Venus Protocol determines stablecoin interest rates differently from how it does lending and borrowing interest rates. The interest rates for minting are fixed and only the protocol’s governance process is allowed to lower and raise these rates. The history of Venus Protocol Venus Protocol was founded by a project development team from global cryptocurrency credit card issuer Swipe, with Venus (XVS) launching in 2020. From the beginning, it aimed to bridge the gap between traditional finance and DeFi on the BNB Chain and provide users with an alternative application free from the issues they’d experienced on Ethereum. Though Swipe supported the development of the Venus Protocol, there were no XVS token pre-mines for developers, or founders. As such, XVS holders have complete control over the protocol and token. Venus Protocol redefines its rules according to community preferences. For example, the Venus V2 upgrade included higher VAI liquidation penalties. It also introduced fees for VAI minting and platform withdrawals, both of which were added to the Venus Reserves Treasury. Additionally, the upgrade included an airdrop of the native Venus Reward Token (VRT) to current XVS holders as a reward. What is possible on Venus Protocol? Venus Protocol enables users to permissionlessly lend and borrow from a pool of assets. Users can also mint stablecoins (VAI) with over-collateralized positions and participate in the protocol's governance. Lending Users can lend and earn changing yield on the assets they supply. Venus Protocol creates pools of these loaned cryptocurrencies using a smart contract and periodically distributes vTokens to them. This way, the protocol unlocks unused value that is already on the BNB Chain but doesn't have a lending market like Bitcoin and Litecoin do. Borrowing Venus Protocol utilizes an over-collateralized loan system that requires borrowers to pledge collateral before borrowing. For example, if Ethereum has a collateral value of 50%, users can borrow up to 50% of the value of their own ETH. They can then have a say in the collateral ratio through the protocol’s governance process. However, according to Venus Protocol’s white paper, the collateral value is typically around 40% to 75%. Users must exercise caution because if the collateral value falls too low, their position will be liquidated.  Minting stablecoins The minting and redemption of the synthetic stablecoin VAI is fixed at 1 USD, though its price can still fluctuate according to the supply and demand.  Venus Protocol users can mint the stablecoin using remaining collateral from previous vToken deposits. Furthermore, anyone can mint stablecoins without central authorities and use newly minted stablecoins for purposes such as earning yield on other DeFi projects. Governance Users can also influence the future of the Venus Protocol. The protocol is completely controlled by the community through its governance token XVS, which is a BEP-20 token that can be used for voting. Users can vote on a number of protocol-related issues, including improvements, adding new tokens to the protocol, adjusting interest rates, and reserving distribution schedule delegations. Venus Protocol also plans to build a product called Venus Vault that will enable users to lock governance tokens to improve the protocol’s anti-risk ability and distribute staking rewards. What makes Venus Protocol unique? Venus Protocol helps to bring common financial lending services to blockchain-based decentralized protocols, though it is not the first to do so — there are Ethereum-based DeFi applications with assets worth billions of dollars locked into them. However, these applications have their pain points, such as high costs, low network speed, and a lack of cryptocurrencies from other blockchains (e.g., XRP and Litecoin). Venus Protocol differs from many other money market protocols in that it enables the use of supplied collateral for not only borrowing, but also for minting stablecoins. In addition, users can earn yield from minted tokens, as opposed to other protocols that lock such tokens up in smart contracts, with no benefits from underlying assets. Venus Protocol eliminates the need to remove one’s own assets from a money market to mint stablecoins. Unlike many prominent stablecoins, Venus Protocol’s synthetic stablecoins are not backed by traditional financial assets or fiat but by a basket of other cryptocurrencies. Moreover, BNB Chain makes transactions fast and low-cost while providing a network of wrapped tokens and liquidity. Closing thoughts Venus Protocol combines the money market and stablecoin generation within the same protocol, which can benefit the crypto ecosystem by unlocking collateral. Furthermore, BNB Chain's speed and low transaction costs open these financial products to anyone who owns a cryptocurrency wallet. Now, people worldwide can borrow against, earn interest on, and supply collateral, as well as mint stablecoins on demand. Further reading What Is Qtum (QTUM)? What Is Band Protocol (BAND)? What Is NEXO (NEXO)? What Is BNB?
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Bank Of Korea's Experiment About The Use Of Its CBDC To Purchase NFTs

Crypto.com Accelerate the... Crypto.com Accelerate the... 13.11.2022 09:18
NFT Collectibles [COMING SOON] “Altered States” is a creation of Fran Rodríguez, a digital artist based in Barcelona. Fran is known for his striking images, depicting his interpretation of humanity’s place in the universe. This collection drops on 15 November, taking place at Crypto.com NFT. [COMING SOON] In Ali Jardine’s NFT collection, “Lucid State of Dreams”, she explores different types of consciousness along with birth, death, joy, fear, love, and earth magic. This drop on Crypto.com NFT includes 11 meditative animated pieces, and will begin on 22 November. Blockchain Games [LIVE] AstroGator: Reborn is a blockchain-based game by a veteran of the gaming industry—Game Hours. Starting on November 7, this newly launched play-to-earn (P2E) game will feature NFTs first launched by Crypto.com. [LIVE] CroSkulls, a game on the Cronos blockchain, has launched Seasonal Pet — Season 3. This new season features a water element pet (crab). The SkullCrabs will come in three different variants: Baby Crabs, Crabs, and DemonCyborg Crabs. NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea CryptoPunks $5,134,000(+9%) $84,600 OpenSea Bored Ape Yacht Club $4,340,600(+104%) $77,300 Crypto.com NFT Loaded Lions $470,000(+93%) $2,200 Minted VVS Miner Mole $116,800(-2%) $399 Minted Argonauts $29,800(-1%) $84 Crypto.com NFT Cyber Cubs $17,100(+3%) $258 Platform OpenSea Collection CryptoPunks Sales Volume (USD) $5,134,000(+9%) Floor Price (USD) $84,600 Sample Platform OpenSea Collection Bored Ape Yacht Club Sales Volume (USD) $4,340,600(+104%) Floor Price (USD) $77,300 Sample Platform Crypto.com NFT Collection Loaded Lions Sales Volume (USD) $470,000(+93%) Floor Price (USD) $2,200 Sample Platform Minted Collection VVS Miner Mole Sales Volume (USD) $116,800(-2%) Floor Price (USD) $399 Sample Platform Minted Collection Argonauts Sales Volume (USD) $29,800(-1%) Floor Price (USD) $84 Sample Platform Crypto.com NFT Collection Cyber Cubs Sales Volume (USD) $17,100(+3%) Floor Price (USD) $258 Sample Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 278K(-4%) $4K Trickshot Blitz Flow 134K(+16%) $86K Axie Infinity Ronin, ETH 54K(-14%) $17M Solitaire Blitz Flow 43K(+36%) $63K Era7: Game of Truth BNB Chain 42K(+27%) $98K Game Splinterlands Blockchain(s) Hive, Wax UAW 278K(-4%) Volume $4K Logo Game Trickshot Blitz Blockchain(s) Flow UAW 134K(+16%) Volume $86K Logo Game Axie Infinity Blockchain(s) Ronin, ETH UAW 54K(-14%) Volume $17M Logo Game Solitaire Blitz Blockchain(s) Flow UAW 43K(+36%) Volume $63K Logo Game Era7: Game of Truth Blockchain(s) BNB Chain UAW 42K(+27%) Volume $98K Logo Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$7.0 billion, down -17% from last week. News Highlights OpenSea launches an on-chain tool to enforce NFT royalties. The royalty enforcement tool currently only applies to new NFT collections, while a decision will be made on existing collections on a later date. The Bank of Korea tested NFT trading during a 10-month-long experiment of a digital South Korean won. During the project, the bank tested the use of its CBDC to purchase NFTs. South Korea also plans to allow its citizens access to blockchain-powered digital IDs in 2024. Paris Saint-Germain forward Lionel Messi is joining the NFT trading card game Sorare as an investor and brand ambassador. In Sorare, players can trade digital player cards and manage teams of five in fantasy soccer tournaments. Recent Research Reports     Research Roundup Newsletter [October 2022] In this issue, we cover our recent Bloomberg Terminal integration, special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. NFT Financialisation and Utility: An Overview As NFT utility grows, so does the potential to make money from them. Financialisation could help to achieve greater liquidity for and unlock the value of NFTs. NFT Utility: A Multifaceted Overview and Use Cases For NFTs to increase in value and be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility.         Research Roundup Newsletter [October 2022] In this issue, we cover our recent Bloomberg Terminal integration, special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.   NFT Financialisation and Utility: An Overview As NFT utility grows, so does the potential to make money from them. Financialisation could help to achieve greater liquidity for and unlock the value of NFTs.   NFT Utility: A Multifaceted Overview and Use Cases For NFTs to increase in value and be deemed viable economic and financial assets, they have to go beyond collectability and aesthetics. One way to tackle this is through utility. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile.
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Robert Kiyosaki Is Not Worried About The Price Of Bitcoin

InstaForex Analysis InstaForex Analysis 14.11.2022 09:42
Crypto Industry News: Rich Dad Poor Dad author Robert Kiyosaki says he is not worried about the price of Bitcoin when BTC fell below $17,000 in the implosion of the FTX cryptocurrency exchange. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times bestseller list for over six years. Over 32 million copies of the book have been sold in over 51 languages in over 109 countries. "Bitcoin? Worried? No. I'm a Bitcoin investor just like I am an investor in physical gold, silver and real estate. I'm not a trader or flipper. When will Bitcoin hit a new low, $10K to $12K? I'll be excited, not worried" - Kiyosaki wrote. He added that by betting on gold, silver and Bitcoin, he was betting against the Federal Reserve, the Treasury and President Joe Biden. The famous author has been recommending Bitcoin for a long time. Last month, he explained why he was buying BTC. In September, he urged investors to get into cryptocurrencies before the biggest economic meltdown ever happened. He also recently warned that the stock, bond and real estate markets will collapse as the Federal Reserve continues to raise interest rates. He has also repeatedly warned that Fed rate hikes will destroy the US economy. Technical Market Outlook: The BTC/USD pair has bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. During the weekend the local low was made at the level of $15,800, only $250 above the swing low. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet. The nearest technical resistance zone is seen at $17,600 $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.     Relevance up to 09:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300857
Scottie Pippen (Basketball Player) Received A Personalized NFT

Scottie Pippen (Basketball Player) Received A Personalized NFT

InstaForex Analysis InstaForex Analysis 14.11.2022 09:46
Crypto Industry News: Basketball player Scottie Pippen, who won six NBA championships with the Chicago Bulls in the 1990s, has his NFT. It resembles graphics associated with the cult CryptoPunks series. Scottie Pippen received a personalized NFT that works based on Arbitrum. The athlete tweeted a photo of himself wearing the number 33 jersey with an NFT avatar added next to it. The token was created via the Smolverse platform. The basketball player added that he is ready to test the next generation of NFT products. NFT graphics resemble images from the CryptoPunks collection, which were sales hits in 2021. Scotty Maurice Pippen, more commonly known as Scottie Pippen, is an American basketball player who plays as a small forward and is a six-time National Basketball Association champion. He played for the Chicago Bulls. In 2010, he was included in the Basketball Hall of Fame. James Naismith. He was also honored with a bronze statue unveiled at the United Center on April 7, 2011. Technical Market Outlook: The bulls had managed to retrace 38% of the last wave down on Ethereum and made a new local high at the level of $1,347. Nevertheless, the bearish pressure is still high and the next target for bears is seen at the level of $886 (yearly low's). The market has been seen moving down all weekend long as the momentum is still weak and negative on the H4 time frame chart. The nearest technical resistance is seen at the level of $1,343. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/300859
In Crypto, You Could Prove You Own A Private Key Without Revealing It

FTX And More Than 100 Affiliates Filed For Bankruptcy | The Aussie Dollar (AUD) Has Gained Ground

Saxo Bank Saxo Bank 14.11.2022 10:03
Summary:  Market sentiment closed last week on a strong note after the wild rally on Thursday in the wake of the softer-than-expected October US CPI data. Sentiment was checked in the Asian session today by rising Covid cases in China, although the Zero Covid policy approach there may be softening. US yields jumped a bit to start this week after a bank holiday on Friday and after Fed Governor Waller was the first significant Fed profile to push back against the market’s lower of forward Fed tightening expectations in the wake of a single data release.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) Last was a spectacular week for equities with the MSCI World Index up 6.7% with our theme baskets e-commerce, cyber security, and semiconductors rallying 19.4%, 13.6%, and 12.8% respectively. High duration equity themes responded the most to broad-based easing of financial conditions last week and the key question is now if the market will extend its momentum. S&P 500 futures closed on Friday at the 4,000 level and have opened a bit lower this morning but are already attempting to climb back to the 4,000 level. If we look at financial conditions and where they mostly went last week there are theoretically room for a rally up 4,100 and even beyond that to the 4,200 level. Hong Kong’s Hang Seng (HSIX2) and China’s CSI300 (03188:xhkg) Hang Seng Index climbed 2.7% and CSI 300 edged up 0.9% on the news that the People’s Bank of China and the Banking and Insurance Regulatory Commission jointly issued a notice to financial institutions with 16 measures to address the liquidity squeeze faced by property developers through measures including the temporary relaxation of previously imposed redlines restricting banks from lending over certain ceilings to developers and calling for financial institutions to treat private enterprise developers equally with state-owned enterprises. Leading China private enterprise property developers listed in Hong Kong soared by 20% to 40% at one point. FX: USD picking up the pieces after massive downdraft on lower October CPI The US dollar lurched into an historic two-day plunge late last week after the release of the softer than expected US October CPI data on Thursday ahead of a three-day weekend for US rates (on Friday’s bank holiday). The move was so sharp that it can’t hope to maintain course, so for the nearest term, the market will try to feel out consolidation levels. EURUSD, for example, finally found resistance just above the key 1.0350 area, which was the major low back in May and June and prior to that, back in early 2017. The first support is the 1.0200 area, the 38.2% retracement of the rally sprint, with the reversal level at 1.0100, the 61.8% retracement and near the prior important resistance. For USDJPY, the market managed to take out the 139.40, the prior major high in July, around where it trades this morning. Amazingly, having fallen from 151.95 to the local low of 138.46, the 200-day moving average is still quite far away, near 133.00. Crude oil (CLZ2 & LCOF3) remains rangebound ... trading softer into the European session in response to a recovering dollar after Fed’s Waller said the FOMC has some way to go before it stops raising interest rates. Earlier in the session commodity prices in general, including oil, were supported by demand optimism after China on top easing Covid restrictions issued a rescue package for its struggling property market. A pickup in Chinese demand, despite the current headwinds from rising virus cases, when EU is preparing sanctions against Russian oil and OPEC+ is cutting production, will likely lead to further tightening of the market. Focus on US economic data given its impact on risk appetite as well as Monthly Oil Market Reports from OPEC today and the IEA tomorrow. Gold trades softer following a two-week jump of almost 8% … after Fed’s Waller cautioned that the FOMC isn’t close to pausing interest rate hikes. The dollar strengthened while Treasury yields moved higher after having been closed on Friday for Veterans Day. Overall, however, the sentiment in the market seems to be changing with a period of consolidation, potentially the next phase. Focus on resistance-turned-support at $1735 and whether we have seen a shift in the trading behaviour among speculators from a sell-into-strength to a buy-on-weakness. ETF investors – net sellers for months - and speculators in the futures market now hold the key that could unlock further gains. Expect some consolidation and potentially a recheck of support at $1735 with resistance at $1789 and $1804. Industrial metals remain focussed on China … and overnight iron ore, the key feedstock for steel production, jumped +3% after the Chinese government released a package of policies to rescue its property sector. The news came on top of last week's easing of some virus restrictions which drove a near 14% rally in the Bloomberg Industrial metals index to a five-month high. Copper, now up 25% from the July low was one of the main beneficiaries of the news, coming at a time when supplies are already showing signs of tightening. Overnight, the property news drove HG copper to a fresh five-month high at $3.96 per pound before some profit taking emerged just ahead of critical and potential sentiment as well as momentum changing resistance in the $4 to $4.05 area.  US treasuries (TLT, IEF) US Treasury yields (10Y) closed Thursday on a weak note after the plunge on the October CPI data ahead of a three day weekend for banks (treasuries not trading, even as equity markets were open). Yields have jumped a bit here at the start of this week after Fed Board of Governors member Waller pushed back against the market’s repricing of Fed tightening intentions since that CPI release (more below) in comments overnight. The low water mark for the 10-year treasury benchmark was just above 3.80%, with a jump back above 4.00% needed to suggest that this drop in yields is temporary. The next level of note to the downside is the 3.50% area, which was the high-water mark back in June that held for about three months before new highs were posted in September. What is going on? AUDUSD is up 9% from its low, gaining some extra ground on China’ property rescue package The Aussie dollar has gained ground on the back of China's introduction of a property sector rescue package. AUDUSD now trades at a two-month high, hitting 0.666 in anticipation that Australia’s trade surplus will be further supported by exports into resurgent Chinese demand after China introduced 16 property measures to address its developer liquidity crisis. On top of that that, China’s eased some covid restrictions; shortening to five-day quarantines, which is aimed at reducing the economic impact of Covid Zero. US Fed’s Waller pushes back against market’s lowering of Fed expectations Federal Reserve Governor (and therefore voter) Christopher Waller has been the first high profile Fed official to emerge and push back against the market’s repricing lower of the Fed’s rate tightening trajectory in comments overnight. Speaking at a Sydney, Australia conference, Waller said that “These rates are going to...stay high for a while until we see this inflation get down closer to our target”. “We’ve still got a ways to go. This isn’t ending in the next meeting or two.” The market is now pricing the Fed to reach a peak policy rate below 5.00%, either at the March or May FOMC meeting next year, with a 50-basis point hike priced for December to take the Fed Funds rate to 4.25-4.50% and slightly more than 50 basis points of further tightening priced beyond that. This is some 25 basis points below the prior peak in expectations. Crypto market fear is spreading On Friday, the CEO of the cryptocurrency exchange FTX stepped down, and FTX and more than 100 affiliates filed for bankruptcy, with the filing revealing that FTX and Alameda Research (related trading firm) have liabilities in the range $10-$50 bn. Contagious effects have already appeared with examples of as Genesis has $175 mn stuck in FTX and the crypto lender BlockFi stating that they would be limiting activities in wake of the FTX collapse. As the confidence in centralized exchanges is shrinking, a record-high amount of Bitcoin was moved out of exchanges and into self-custody wallets due to increased fears of exploitation and mismanaging of user funds. What are we watching next? Fed Vice Chair Lael Brainard to speak today Brainard is thought to be one of the most dovish of prominent Fed figures and possibly behind what was seen as slightly dovish insertion in the November FOMC monetary policy statement before Fed Chair Powell’s press conference. What will Brainard say now that the market seems ready to pounce on a single month’s data to significantly alter its projections of Fed policy? NY Fed President and voter Williams will also speak today, with a rather busy schedule of Fed speakers in the week ahead. Incoming US data Traders will remain nervous around incoming US data after the wild reaction to last week’s Thursday October US CPI release. The US macro calendar highlights this week include Tuesday’s October PPI releases, the Oct. Retail Sales data on Wednesday and November NAHB Housing Market Index release the same day. Finally, the US reports October Housing Starts/Building Permits data on Thursday. Major China Internet companies are scheduled to report this week Meituan (03690:xhkg) kicks off the busy earnings calendar of  China Internet companies on Monday, followed by Tencent (00700:xhkg) on Wednesday, Alibaba (09988:xhkg) on Thursday, and JD.COM (09618:xhkg) on Friday. Analysts’ estimates for top-line growth in Q3 are subdued due to weak consumption recovery and the macro environment. Slow merchandise value (GMV) growth during the Singles’ Day festival may point to a sluggish Q4 outlook. Alibaba's GMV growth during the Singles' Day festival was flat. JD.COM has not yet announced its numbers except saying GMV had positive growth Y/Y during the period (from Oct 31 evening to Nov 11 end of the day). According to estimates, eCommerce platform GMV grew about 14% Y/Y but the large traditional eCommerce platforms were estimated to see GMV growth at just around 3% Y/Y. UK Autumn Statement on 17 November Expect a contractionary 2023 UK Budget. The new Prime minister Rishi Sunak needs to find savings worth about £30-40bn/year to convince the independent Office for Budget Responsibility that debt won’t rise across the medium-term as a percentage of GDP. This is not an easy task. But this is certainly the only way for the United Kingdom to win back investor confidence after the disastrous mini-budget presented in September. All of this will likely increase the depth of the UK recession and poverty across the country. The outlook is really grim. The Bank of England expects the UK to be in recession from mid this year all the way through to mid 20024. Then growth will pick up only very modestly (annualized rate of 0.75 %). Poverty is also increasing. The country’s largest foodbank charity says 11.5 million meals were handed out over six months – more than 63.000 a day on average. This is a record. The 2023 budget will likely make things worse. The UK is facing an emerging market economy dynamic. Earnings to watch The Q3 earnings season is still slowing down but with important earnings releases still coming out this week. Today’s focus is Chinese e-commerce giant Meituan, Brazil-based fintech bank Nu Holdings, and finally DiDi Global which is the Uber equivalent in China. For foreign investors the earnings from Nu Holdings will get the most attention as the bank is purely technology-driven, fast growing (expected to grow net revenue 188% y/y in Q3 to $1.09bn), and has Berkshire Hathaway as one of its biggest shareholders. Monday: Meituan, Sonova, Tyson Foods, Nu Holdings, Trip.com, DiDi Global Tuesday: Infineon Technologies, Vodafone, Alcon, Walmart, Home Depot, Sea Ltd Wednesday: Siemens Energy, Tencent, Experian, SSE, Nibe Industrier, Nvidia, Cisco, Lowe’s, TJX, Target Thursday: Siemens, Alibaba, Applied Materials, Palo Alto Networks, NetEase Friday: JD.com Economic calendar highlights for today (times GMT) 1000 – Eurozone Sep. Industrial Production 1630 – Switzerland SNB President Jordan to speak 1630 – US Fed Vice Chair Brainard to Speak 2030 – Weekly Commitment of Traders Report (delayed from Friday) During the day: OPEC’s Monthly Oil Market Report 0030 – Australia RBA Minutes 0120 – China Rate Decision 0200 – China Oct. Industrial Production / Retail Sales  Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean Sticher Source: https://www.home.saxo/content/articles/macro/market-quick-take-nov-14-2022-14112022
Easing In Chinese Covid Measures | Crypto Distress Continues | Markets Trade Joyfully

Easing In Chinese Covid Measures | Crypto Distress Continues | Markets Trade Joyfully

Swissquote Bank Swissquote Bank 14.11.2022 10:25
It has been an ugly weekend for cryptocurrencies, even though the selloff remained relatively contained in the sector giants like Bitcoin, compared to the size of the bad news that flew in last Friday. Market mood Market mood outside crypto is extremely joyful after last week’s inflation data surprised investors to the downside and China announced to relax Covid measures, and boost its shattered property sector. US And China Although the US inflation remains relatively high to contain a perhaps premature bull run on dovish Fed expectations, news from China could help keeping the mood nice and sweet. We will yet discover if the latest news will be enough to get international investors back on board of a Chinese dream that has been shot to the ground by the very Xi Jinping. Joe Biden and Xi Jinping  Joe Biden and Xi Jinping will talk today on the sidelines of the G20 summit in Bali. Talks could go either way; they could either boost, or hit risk appetite in Chinese, and global assets. China retailers & Nvidia earnings Other than that, investors will watch the Q3 earnings from Nvidia, and some US and Chinese retail giants throughout this week! Watch the full episode to find out more! 0:00 Intro 0:32 FTX goes bankrupt, crypto distress continues 4:40 Traditional markets trade joyfully post-US CPI… 6:49 And easing in Chinese Covid measures! 8:26 Investor attention shifts to US, China retailers & Nvidia earnings Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #FTX #bankruptcy #Bitcoin #Ethereum #Solana #crypto #selloff #USD #inflation #data #Fed #expectations #China #Covid #measures #market #rally #retailer #Walmart #Target #Alibaba #JD #earnings #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH      
India’s Investing In Program For The Green Hydrogen Industry | Covid Situation In China Is Getting Serious

In China Will Remain Heavy Restrictions And Lockdowns

Craig Erlam Craig Erlam 14.11.2022 10:43
It’s been quite a choppy start to the trading week, with much of the focus on China where Covid relaxation measures and property market support have brought some relief. Unfortunately, both come at a time of record Covid infections in major cities including Beijing and Guangzhou. And those relaxation measures that were announced are not ambitious enough to make any difference in those cities seeing rising cases which means activity is going to weaken. There is hope that China could further relax its zero-Covid policy next spring but for now, mass testing, heavy restrictions, and lockdowns are here to stay, despite growing opposition and fatigue. Those hoping that this initial relaxation phase would be more substantial were always setting themselves up for disappointment. Property stocks in China and Hong Kong were given a big lift at the start of the week as Beijing unveiled its 16-point plan to support the industry. Having almost brought the industry to its knees as part of its reform efforts, Beijing is attempting to build it back up but as it’s already finding, the former is much easier to do than the latter. Confidence is shattered and it will take time, effort, and patience to restore it. Now it’s a question of how much these measures will undermine Beijing’s initial reform measures and whether they’ll even succeed in reinvigorating the industry. Efforts until now have been like pushing on a piece of string. Bad timing Bitcoin waited patiently for this moment, forming a base around $20,000 in anticipation of inflation falling and the Fed narrative becoming much less hawkish. Unfortunately, that moment coincided with the spectacular collapse of FTX which has sent shockwaves through the industry and hammered crypto prices. Rather than taking off, bitcoin has plummeted to levels not seen in two years and further pain may lie ahead. There’s now enormous uncertainty in the space which could hold it back in the near term and weigh on prices. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Middle Distillates: Strong Market Support Expected

Saxo Podcast: Ahead Of The G20 Meeting, A Shift In China's Covid Policy And More

Saxo Bank Saxo Bank 14.11.2022 12:29
Summary:  Today we continue to find reason to question the quality of this melt-up in equity markets after last Thursday's soft US CPI print, with the first prominent Fed official already out overnight with pushback against this drop in US yields. Still, that's not to say that the move can't extend in the short term, as the market is also hoping that a shift in China's Covid policy is coming. Xi and Biden will meet today ahead of the G20 meeting. We also look at stocks to watch this week, an important week for earnings, the big moves in metals both precious and industrial, the US dollar and much more. Today's pod features Peter Garnry on equities and John J. Hardy hosting an on FX. Listen to today’s podcast - slides are available via the link. Follow Saxo Market Call on your favorite podcast app: Apple  Spotify PodBean Sticher If you are not able to find the podcast on your favourite podcast app when searching for Saxo Market Call, please drop us an email at marketcall@saxobank.com and we'll look into it.   Questions and comments, please! We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.   Source: https://www.home.saxo/content/articles/podcast/podcast-nov-14-2022-14112022
Bitcoin Has A Sign Of The Sideways Regime

One of the top digital assets exchanges has crashed, but JPMorgan seems to see the other side of the coin

Alex Kuptsikevich Alex Kuptsikevich 14.11.2022 13:02
Bitcoin is trading just below 16K by the start of active European trading on Monday, losing 23.6% to levels of seven days ago. Ethereum collapsed 25% to $1190. Other top altcoins in the top 10 fell from 20% (BNB) to 29.6% (XRP). The total capitalisation of the crypto market, according to CoinMarketCap, fell 27% over the week to $757bn, to its lowest level since December 2020. Bitcoin and the overall crypto market collapsed to two-year lows last week amid the bankruptcy of cryptocurrency exchange FTX and related companies. We continue to compare what is happening to the banking crises of the early 20th century, which led to the formation of modern securities market regulation with more transparency for investors but less anonymity. Bitcoin was down to $15.8K by Monday morning, repeating lows set from Wednesday to Thursday. This is a timid attempt by speculators to form a 'double bottom', a reversing pattern in tech analysis. But we also draw attention to the impressive selling hitting the crypto market on bounces from increasingly lower highs. This behaviour still indicates a huge interest in selling, creating risks for a new, deeper downside slippage. This could be the $12-14K range in a reduced liquidity environment. The collapse of FTX is likely to cause more reputational damage to second-order altcoins, pushing back the new alt-season for some time. However, the top two dozen cryptocurrencies with working projects remain a good long-term bet for a diversified crypto portfolio. Changpeng Zhao, CEO of Binance talks probable crash of other crypto companies According to Glassnode, the share of profitable bitcoin addresses online has fallen to 50% - the lowest since March 2020. Short-term investors who have held BTC for less than six months have once again capitulated. Miners were also part of the reset, data from the CryptoQuant platform shows. Long-term investors, who now control up to 35.4% of the total BTC supply, also suffered significant losses. The current situation in the cryptocurrency industry echoes the 2008 financial crisis, and more companies could collapse in the coming weeks, warned Binance CEO, Changpeng Zhao. He said that the market has yet to feel the effects of the crisis around FTX. JPMorgan believes the collapse of FTX will help the cryptocurrency industry recover and prompt regulators to speed up regulation of the sector.
Craig Erlam and Jonny Hart talk UK Autumn Statement and more

The cable's performance is outstanding indeed. XTB's Walid Koudmani highlights huge, 6% percent gain

Walid Koudmani Walid Koudmani 14.11.2022 13:37
Crypto markets attempt to recover despite widespread panic   The panic surrounding the crypto market continues this week after further developments regarding the FTX situation led to a widespread uncertainty involving the whole sector with many now questioning the safety of other major exchanges and defi protocols. Many large institutions rushed to reassure their customers, investors and market as a whole of their financial positions after major doubts emerged following the FTX collapse. Understandably, the Crypto fear and greed index is signaling levels of extreme fear as a large outflux of coins and cash from exchanges is threatening the stability of the ecosystem even further. Major price swings, spiky volatility and projects approaching collapse are all factors causing an outflow of capital from the ecosystem as the overall market cap hovers around $844 billion while major crypto currencies like Bitcoin and Ethereum attempt to hold above their key supports. While there is a high potential for unexpected developments and high volatility, some investors may take the fact that BTC and ETH stabilized slightly as a reassuring sign, at least in the short term. On the other hand, confidence in the crypto industry is likely hovering around historic lows as many who may have been supporters have begun to doubt their conviction as they see companies that may have seemed too big to fail crumble almost overnight leaving investors and customers to deal with the aftermath.    Pound pulls back from highest level since August   The pound has managed to pull off an impressive recovery since the beginning of November with the GBPUSD pair rising over 6% and reaching a high of 1.185, a level not seen since the end of August. This came as the USD started to retreat following macroeconomic reports supporting a slightly less hawkish approach by the FED and as the recently appointed British PM attempted to calm investor sentiment after his predecessor. Today we can see a fairly balanced situation in the FX market with both USD and GBP performing strongly and with the pair pulling back slightly as it trades around 1.177. Many will be focused on the G20 taking place this week as progress on the geopolitical front may also help with improving sentiment while Sunak remains under pressure with regards to taxes, cuts and migrants. From a technical perspective, the GBPUSD pair is trading at an interesting price reaction area after encountering resistance and pulling back almost 1% and breaking below the 21SMA on the hourly chart. As the sentiment surrounding the pound remains uncertain, any major developments may cause large volatility spikes that could cause a breakout from the short term trading range.
Bitcoin is trying to resume its upward movement

The Binance Crypto Exchange Announced The Creation Of An Industry Recovery Fund

InstaForex Analysis InstaForex Analysis 14.11.2022 13:37
Over the past week and a half, the situation on the crypto market has deteriorated significantly. The collapse of FTX in terms of its scale and consequences is comparable to the fall of Luna, and therefore carries a loud negative context far beyond the crypto market. Cryptocurrency market capitalization has fallen to $830 billion due to a record outflow of funds from centralized platforms. According to research by Glassnode, more than 106,000 BTC have been withdrawn from crypto exchanges in the last month. Such large outflows of funds have occurred three times in history: in April and November 2020, and also in June/July 2022. Bloomberg claims that the situation with FTX has negatively affected the reputation of the cryptocurrency market. The publication analyzed the balance sheet of the exchange and concluded that customers have little chance of returning their deposits. Analysts also suggest that the collapse of the crypto exchange has undermined the prospects for digital assets to become a mainstay of institutional investors' portfolios. At the same time, CoinShares recorded $46 million inflows to crypto funds last week during the FTX crash. This directly refutes Bloomberg's suggestion and suggests that investors see the price drop as an opportunity. It's not that bad Not everyone panics and falls into total despondency against the background of what has happened over the past few weeks. Glassnode believes that the collapse of FTX was the reason, not the reason for the fall of the crypto market. Experts believe that in a more favorable situation, the collapse of the crypto exchange would attract much less attention. Glassnode noted that the next collapse of the crypto market fully corresponds to the process of market recovery and the flow of capital to long-term owners. Given this, analysts believe that the consequences of the FTX fall will be short-term. JPMorgan experts also assess the situation as stable and see no signs of an industry collapse. At the same time, analysts predict a fall in Bitcoin quotes to the cost of $13,000. Earlier, the bank noted that a fall in the price of BTC to this level could cause a series of margin calls and, as a result, the bankruptcy of a number of companies. In order to prevent the situation from worsening, the Binance crypto exchange announced the creation of an industry recovery fund. The structure will help strong projects solve the liquidity problem and survive a difficult market period. Tron founder Justin Sun also joined the initiative. BTC/USD Analysis After the publication of a tweet by the CEO of Binance, Bitcoin quotes recovered above $16.5k. Despite this, the situation on BTC is developing according to the scenario of the bears. The cryptocurrency has finally consolidated below the level of the previous local bottom and every day of trading costs the market big losses. Over the past five days, the price of Bitcoin has fallen below $16k three times, which may indicate a continuation of the downward trend to the $14k–$15k range. Despite the negative trend, there are signs of a rebound on the daily BTC/USD chart. The RSI and Stochastics rebounded from the lower border of the bullish zone, which indicates the activation of buyers and an attempt to break through the $17.3k–$17.6k zone. Fundamental factors At the same time, fundamental positive signals are visible on the chart of the US dollar index. The asset has reached a cyclical peak, which may indicate the end of the DXY upward trend. For high-risk assets, this can be a catalyst for growth. The current market cycle has presented us with many new patterns that run counter to past cycles. However, the accelerating fall in inflation, the readiness of the Fed to ease monetary policy and the approaching New Year holidays give arguments to believe that the December–February period will be a turning point and the global crisis will subside. Results Most likely, we should expect an update of the local Bitcoin bottom below the $15.5k level. The fall of the main cryptocurrency will provoke a series of bankruptcies and another market collapse. However, in general, the process of forming a local bottom and improving the market is coming to an end, and the macroeconomic situation is stabilizing.   Relevance up to 12:00 2022-11-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327043
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Binance Academy: Venus Protocol - what is it? How does it work?

Binance Academy Binance Academy 14.11.2022 14:20
TL;DR Venus Protocol is an algorithm-based money market system on the BNB Chain. It aims to allow users to lend and borrow cryptocurrency in a decentralized and secure way. The protocol is permissionless, so anyone can start using it by connecting crypto wallets like MetaMask. Venus Protocol's community owns and controls the protocol through its native governance token, XVS, which can be staked in the Venus Protocol Vault to earn token rewards. Introduction Decentralized finance (DeFi) has begun to offer an increasing number of services typically associated with traditional finance. With Venus Protocol, users can permissionlessly lend or borrow from a pool of assets, and suppliers of collateral can benefit from their passive funds. However, instead of a centralized player handling transactions, the protocol automates the process using technologies such as smart contracts. Learn more on Binance.com What is Venus Protocol and how does it work? Venus Protocol is an algorithmic money market and synthetic stablecoin protocol. Traditionally, the money market is an essential part of the economy that deals with short-term loan needs. Now, however, Venus is bringing decentralized finance (DeFi) lending and borrowing onto the BNB chain. It also allows collateral suppliers to mint the platform's native synthetic stablecoins (VAI) by over-collateralizing positions. Venus Protocol is a fork of Compound and MakerDAO. Both are Ethereum-based, with the first being a money market protocol and the second, a stablecoin minting protocol. Venus integrates these functions into one, allowing users to utilize the same collateral within one ecosystem, regardless of which function they use. You can think of the Venus Protocol as a permissionless lending environment. Firstly, it allows BNB Chain users with idle cryptocurrency to supply collateral to the network. Secondly, users who need more can borrow by pledging over-collateralized cryptocurrency. Lenders then receive compounded annual interest rates, while borrowers pay interest on their respective loans. The interest rates for lending and borrowing are set by the protocol in a curve yield that varies based on utilization. These rates are automated according to the demands of the specific market, such as BNB or ETH. However, the protocol’s governance process also sets minimum and maximum interest rate levels. Synthetic stablecoin minting takes place using vTokens, from the collateral users provide to the Venus Protocol. vTokens represent deposited collateral — for example, users receive vUSDT for supplying USDT, which they can later redeem for the underlying collateral. Users can also borrow up to 50% of the collateral value they have on the protocol from their vTokens to mint VAI. Venus Protocol determines stablecoin interest rates differently from how it does lending and borrowing interest rates. The interest rates for minting are fixed and only the protocol’s governance process is allowed to lower and raise these rates. The history of Venus Protocol Venus Protocol was founded by a project development team from global cryptocurrency credit card issuer Swipe, with Venus (XVS) launching in 2020. From the beginning, it aimed to bridge the gap between traditional finance and DeFi on the BNB Chain and provide users with an alternative application free from the issues they’d experienced on Ethereum. Though Swipe supported the development of the Venus Protocol, there were no XVS token pre-mines for developers, or founders. As such, XVS holders have complete control over the protocol and token. Venus Protocol redefines its rules according to community preferences. For example, the Venus V2 upgrade included higher VAI liquidation penalties. It also introduced fees for VAI minting and platform withdrawals, both of which were added to the Venus Reserves Treasury. Additionally, the upgrade included an airdrop of the native Venus Reward Token (VRT) to current XVS holders as a reward. What is possible on Venus Protocol? Venus Protocol enables users to permissionlessly lend and borrow from a pool of assets. Users can also mint stablecoins (VAI) with over-collateralized positions and participate in the protocol's governance. Lending Users can lend and earn changing yield on the assets they supply. Venus Protocol creates pools of these loaned cryptocurrencies using a smart contract and periodically distributes vTokens to them. This way, the protocol unlocks unused value that is already on the BNB Chain but doesn't have a lending market like Bitcoin and Litecoin do. Borrowing Venus Protocol utilizes an over-collateralized loan system that requires borrowers to pledge collateral before borrowing. For example, if Ethereum has a collateral value of 50%, users can borrow up to 50% of the value of their own ETH. They can then have a say in the collateral ratio through the protocol’s governance process. However, according to Venus Protocol’s white paper, the collateral value is typically around 40% to 75%. Users must exercise caution because if the collateral value falls too low, their position will be liquidated.  Minting stablecoins The minting and redemption of the synthetic stablecoin VAI is fixed at 1 USD, though its price can still fluctuate according to the supply and demand.  Venus Protocol users can mint the stablecoin using remaining collateral from previous vToken deposits. Furthermore, anyone can mint stablecoins without central authorities and use newly minted stablecoins for purposes such as earning yield on other DeFi projects. Governance Users can also influence the future of the Venus Protocol. The protocol is completely controlled by the community through its governance token XVS, which is a BEP-20 token that can be used for voting. Users can vote on a number of protocol-related issues, including improvements, adding new tokens to the protocol, adjusting interest rates, and reserving distribution schedule delegations. Venus Protocol also plans to build a product called Venus Vault that will enable users to lock governance tokens to improve the protocol’s anti-risk ability and distribute staking rewards. What makes Venus Protocol unique? Venus Protocol helps to bring common financial lending services to blockchain-based decentralized protocols, though it is not the first to do so — there are Ethereum-based DeFi applications with assets worth billions of dollars locked into them. However, these applications have their pain points, such as high costs, low network speed, and a lack of cryptocurrencies from other blockchains (e.g., XRP and Litecoin). Venus Protocol differs from many other money market protocols in that it enables the use of supplied collateral for not only borrowing, but also for minting stablecoins. In addition, users can earn yield from minted tokens, as opposed to other protocols that lock such tokens up in smart contracts, with no benefits from underlying assets. Venus Protocol eliminates the need to remove one’s own assets from a money market to mint stablecoins. Unlike many prominent stablecoins, Venus Protocol’s synthetic stablecoins are not backed by traditional financial assets or fiat but by a basket of other cryptocurrencies. Moreover, BNB Chain makes transactions fast and low-cost while providing a network of wrapped tokens and liquidity.   Closing thoughts Venus Protocol combines the money market and stablecoin generation within the same protocol, which can benefit the crypto ecosystem by unlocking collateral. Furthermore, BNB Chain's speed and low transaction costs open these financial products to anyone who owns a cryptocurrency wallet. Now, people worldwide can borrow against, earn interest on, and supply collateral, as well as mint stablecoins on demand. Further reading What Is Qtum (QTUM)? What Is Band Protocol (BAND)? What Is NEXO (NEXO)? What Is BNB?
RBI's Strategic INR Support: Factors Behind India's Stable Currency Amidst Global Challenges

Warren Buffett's Investing Tips | New Clear Regulations For Crypto Market

Kamila Szypuła Kamila Szypuła 14.11.2022 12:12
Inflation, and thus economic growth, remains an unchanging topic. Thus, market reactions are monitored even more closely. With UBS Investor Sentiment you can find out about the situation from the perspective of investors. In addition, the cryptocurrency market is also becoming an important topic recently. The CEO of Binance’s call at the G20 meeting is a perfect example of this. In this article: Global growth Regulations in cryptocurrencies Warren Buffett's tips U.S. House Speaker statement Concern among investors Global economic is not doing well IMF tweets about slowdown in global growth, to helps to illustrate the situation, chart is added. High-frequency economic indicators show that the slowdown in global growth is increasingly evident. See our latest Chart of the Week blog for a snapshot of the data and factors at play. https://t.co/YGDi9m8MFB pic.twitter.com/F79l7zYq0M — IMF (@IMFNews) November 14, 2022 This year shows what difficulties the economy is facing. Global economic growth prospects are confronting a unique mix of headwinds, including from Russia’s invasion of Ukraine, interest rate increases to contain inflation, and lingering pandemic effects such as China’s lockdowns. Every economy tries its best to avoid a crisis, but the faces of a recession are more likely. In particular, if the world's major economies are struggling, smaller economies may feel the effects even more. They will be aware of the possibility of an even more difficult situation, you can start adventures, e.g. reduce expenses. Binance's chief executive called for new clear regulations Reuters Business in post addresses the topic of cryptocurrencies and highlights the call of Binance's chief executive Changpeng Zhao. Dominant cryptocurrency exchange Binance's chief executive Changpeng Zhao called for new but stable and clear regulations for the industry, in light of recent developments and participants ‘cutting corners’ https://t.co/2DVdiDFzmK — Reuters Business (@ReutersBiz) November 14, 2022 The cryptocurrency market is still young. Its unfolding is taking place before our eyes. Despite the great interest among investors and other market participants, there are uncertainties that must be regulated. Each state strives to meet the expectations of citizens and enable them to use new forms. Cryptocurrencies are still not limited by strict legal regulations, but as the current situation on this market shows, they may be more needed than previously thought. The CEO of Binance himself urges to define such regulations. His statements may initiate actions in this direction. How to achieve a investing success Morningstar, Inc. tweets about Warren Buffett's tips for investing success. Warren Buffett has a simple recipe for investing success. Here's what it boils down to. https://t.co/DTUm8j3BLD — Morningstar, Inc. (@MorningstarInc) November 14, 2022 Warren Buffett is undoubtedly one of the most respected investors of all time. Not only novice investors draw from his tips. His advice, or at least getting acquainted with it, becomes crucial in this market. Provided in a simple and accessible and understandable for everyone. Of course, what's simple in theory can be less so in execution. U.S. House Speaker wnats to current U.S President stay *Walter Bloomberg in his post U.S. House Speaker Nancy Pelosi quotes. U.S. HOUSE SPEAKER PELOSI: BIDEN SHOULD SEEK RE-ELECTION -ABC NEWS INTERVIEWU.S. HOUSE SPEAKER PELOSI: I DON'T HAVE ANY PLANS TO STEP AWAY FROM CONGRESS -ABC NEWS — *Walter Bloomberg (@DeItaone) November 13, 2022 From the statements we can learn about the opinion of an American politician. Her job is to see the current president running for re-election. Elections in the states will certainly attract attention, and the possible re-election of Joe Biden becomes more likely. The support he received in the speech may work to his advantage. Of course, there may be conflicting moods. There may be voices that someone so old wants an older person to seek reelection and that is time for over 75 years olds to retire and let a younger group of leaders take over. Impact of the economic situation on US investors UBS tweet about investors moods. Nearly two-thirds of US investors are highly concerned about politics and inflation. In fact, half of investors have already cut spending due to inflation. So which party do most investors favor on the economy? Check out the latest #UBSInvestorSentiment. #shareUBS pic.twitter.com/iLr4SY5tw1 — UBS (@UBS) November 13, 2022 The economic situation has a negative impact on investors. Everyone is trying to cut losses. And the economic picture is not satisfactory, so the spending cuts are not unexpected. Find out more about current investor sentiment at UBS Investor Sentiment.
Changpeng Zhao's (Binance) announcement makes the leading cryptocurrency price soar

Changpeng Zhao's (Binance) announcement makes the leading cryptocurrency price soar

FXStreet News FXStreet News 14.11.2022 15:58
Bitcoin price rallied 5% within an hour following Binance CEO Changpeng Zhao’s announcement to support crypto projects with a recovery fund. CZ wants to revive projects hit by a liquidity crisis post FTX-Alameda collapse. Analysts predict a short-term recovery in Bitcoin price with more downside from a macro outlook should the current support levels give way. Binance CEO Changpeng Zhao’s (CZ) announcement of his plan to rescue crypto projects hit by the recent liquidity crisis triggered a recovery in Bitcoin. The largest asset by market capitalization rallied 5% within an hour of CZ’s announcement. Analysts remain bullish on BTC and particularly decentralized exchange tokens and related altcoins and expect a spike in buying pressure in today’s US trading session. Bitcoin price begins recovery after Binance’s announcement Bitcoin price yielded 21% losses for holders over the past week following the collapse of FTX exchange and sister trading firm Alameda Research as investor confidence hit rock bottom. BTC crumbled under rising selling pressure from traders lining up to exit the risk asset after FTX’s bankruptcy filing. Binance CEO Changpeng Zhao announced his plan to put together an “Industry Recovery Fund,” and offer a second chance to projects hit by a liquidity crisis. In response to the news of the announcement, prices of Bitcoin, Ethereum and other altcoins in the top 30 recovered 5% within an hour. Bitcoin price rallied from its 24-hour low of $15,906 to a high of $16,580. This move fueled bullish sentiment amongst BTC holders after the recent run of negative headlines. Bitcoin price could attempt further recovery as CZ unveils a plan to rescue crypto projects. Traders are betting on Bitcoin price rally Nearly 71% of all accounts with an open position in Bitcoin on Binance Futures exchange are betting on a BTC price rally. This is an affirmation of the fresh bullish sentiment among traders as Binance paves the road for crypto recovery. Binance Futures long/short ratio After its lowest weekly close in two years, Bitcoin price is ready for a recovery. Elon Musk, CEO of Tesla tweeted that Bitcoin will make it, but it might be a long winter. Bullish affirmation from the self-proclaimed Dogefather and crypto proponent Musk and a plan for recovery from Binance CEO CZ have lent a bullish start to the week before the New York trading session opens. RektCapital, crypto analyst and trader argues Bitcoin price is currently down 75% from its all-time high. In previous bear markets, the retracement has averaged around 84.5%. Thus, by historical standards there isn’t much downside left to go, and Bitcoin price could therefore begin its steady climb in the short-term. Bitcoin price could retest $17,251 Akash Girimath, technical analyst at FXStreet evaluated the BTC/USDT perpetual futures chart and argued that Bitcoin price could witness an 8% upswing and retest the inefficiency known as the Fair Value Gap (FVG) at $17,251. BTCUSDT perpetual futures chart If Bitcoin price manages to flip the hurdle at $17,593, it would invalidate the bearish bias and extend its gains from $17,251 to $19,500.
Binance Academy: Coin Burn - What Is It?

FTX crash causing its auditors to come into question

Rebecca Duthie Rebecca Duthie 14.11.2022 17:45
Summary: FTX had its 2021 financial reports audited. A run on customer deposits began the downfall of FTX. The downfall of the FTX crypto Two US accounting companies that the cryptocurrency exchange claimed it had hired to examine its books have come under scrutiny as a result of FTX's demise. FTX asserted that Armanino, one of the 20 largest accounting companies in the nation by sales, and Prager Metis, which bills itself as the first accounting company to open a headquarters in the metaverse, had audited its 2021 financial reports. Even though the accounting regulations for digital assets are frequently ambiguous and businesses are still in their infancy, the two firms are among many in the US that have professed expertise in digital assets in a bid to seek business from the rising number of crypto enterprises. Sam Bankman-Fried, the founder of FTX, hailed the audit of the company's financial results as a turning point last year, but neither the accounts nor the auditors' names were made public until the day before FTX filed for bankruptcy on Friday. When Forbes magazine was putting together a ranking of cryptocurrency exchanges earlier this year, the publication claimed that FTX gave it "a trove of information on its operations, including most of the companies it did business with, when its last audits were, and details on its regulatory licenses." (FTX eventually came in sixth.) FTX accounting firm is in the spotlight Both accounting firms declined to comment on the extent of their work for FTX or the time since they last provided an audit opinion. A run on customer deposits at its international exchange that followed revelations about the exchange's complex connections to other parts of Bankman-crypto Fried's enterprise brought down FTX. According to those acquainted with the company's finances, his trading outfit Alameda Research owing FTX $10 billion this week. FTX token price chart Sources: finance.yahoo.com, ft.com
Bitcoin Has Made A Dynamic And Aggressive Reversal

Edward Snowden Thinks That It Is Good Time To Buy Bitcoin

InstaForex Analysis InstaForex Analysis 15.11.2022 09:36
Crypto Industry News: Edward Snowden shared his thoughts on Bitcoin with Twitter users. Namely, his intuition tells him that we are now at a similar point as around March 2020, i.e. at a time when "disproportionate panic compared to its causes" can be observed. In his opinion, this could be a very good time to buy Bitcoin (BTC). "There's still a lot of trouble ahead, but for the first time in a while I'm starting to feel the itch to scale back in," Snowden wrote. Recall that in March 2020, the price of Bitcoin (BTC) fell sharply to levels below about $5,000. According to a former contract employee of the US secret services NSA and CIA, the current market sentiment strongly reminds him of March 2020, when Bitcoin began the consolidation phase. A similar opinion is shared by well-known Twitter analyst Michael van de Poppe - "markets are just consolidating," he admits. Snowden's intuition was supposed to turn on after the recent fall in the value of Bitcoin (BTC) caused by the spectacular collapse of the FTX exchange. Snowden also admitted that although the cryptocurrency market still has many problems ahead, for the first time in a long time he feels the desire to return. Technical Market Outlook: The BTC/USD pair has bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301046
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

The Bearish Pressure On The Ethereum Market Is Still Strong

InstaForex Analysis InstaForex Analysis 15.11.2022 09:40
Crypto Industry News: Recently, the market was informed that a wallet allegedly linked to Vitalik Buterin sold 3,000 ETH worth approximately USD 3.75 million on Saturday, November 12. ETH was converted to stablecoins via Uniswap. This quite fresh story has already been commented on by Evan Van Ness, one of the most important developers in the Ethereum community. Van Ness denied the reports and said Vitalik Buterin had told him that the wallet in question did not belong to him. Internet portals tried to reach Buterin directly for independent confirmation, however, still failed. Technical Market Outlook: The bearish pressure on Ethereum is still strong and the next target for bears is seen at the level of $886 (yearly low's). The market has been consolidating in a narrow range as the momentum is still weak and negative on the H4 time frame chart. The nearest technical resistance is seen at the level of $1,343 and the intraday technical support is seen at $1,191. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301047
Rates Spark: Discussing the Potential of 4.5% and its Impact on Markets

China Could Be The Next Hit To Global Inflation | Donald Trump's Announcement

Swissquote Bank Swissquote Bank 15.11.2022 09:52
Equities saw some profit taking in last week’s post-US inflation rally, as some Federal Reserve (Fed) officials reminded investors that the 7.7% inflation is still high and that the Fed would continue fighting to bring it lower. G20 In geopolitics, yesterday’s meeting between Jow Biden and Xi Jinping went well. US-listed Chinese stocks extended gains. Crude Oil In energy, American crude dived on the news that OPEC cut its oil demand outlook and warned of uncertainties around global growth. Earnings In earnings, big US retailers Walmart and Home Depot are due to release earnings today Donald Trump And in fun news, Donald Trump will make an important announcement! Whoo! Watch the full episode to find out more! 0:00 Intro 0:41 Fed members warn of premature optimism 2:54 US inflation expectations go up 4:31 China could be the next hit to global inflation 5:05 Crude oil down on OPEC demand outlook cut 6:20 Biden, Xi meeting went well! 7.49 Crypto selloff cools 8:53 What to watch today? Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #US #inflation #expectations #G20 #Biden #Xi #meeting #US #China #crude #oil #FTX #bankruptcy #Bitcoin #Ethereum #selloff #Binance #recovery #funds #Walmart #HomeDepot #earnings #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
The RBA Will Continue At A 25bp Pace At Coming Meetings

Reserve Bank of Australia (RBA) Could Move Back To 50bps Should The Data Warrant It

Craig Erlam Craig Erlam 15.11.2022 11:45
Equity markets are looking slightly positive in early trade on Tuesday, adding to modest gains at the start of the week. While the rally is perhaps slowing a little after the strong gains of recent weeks, there doesn’t appear to be much appetite at this stage to bail on it. Perhaps the experience of the last year and the huge declines in equity markets have left investors seeing substantial value and they’ve become excited at even the prospect of a bull run. Perhaps there’s some FOMO at play after a long time of such opportunities being few and far between. Not a great UK labour market report I’m not entirely sure who will look at the UK labour market and be able to take many positives from it. The unemployment rate ticking up when job vacancies have fallen for the fourth month may suggest to the BoE that slack is appearing. But at the same time, the rate remains very low and wages excluding bonuses rose by 0.2% to 5.7%, exceeding expectations, which will be a concern when inflation is already above 10% and rising. Inactivity is another negative takeaway as this makes the job of increasing slack in the labour market all the more difficult. Whichever way you look at it, this isn’t a great report and it will likely keep the pressure on the BoE to keep hiking aggressively, creating further headwinds for the economy. Sensible RBA minutes move away from the era of forward guidance The key takeaway from the RBA minutes overnight was that forward guidance will no longer be a tool the central bank leans on unless there is value in doing so. The RBA wants to maintain a flexible approach based on the incoming data rather than be tied to its guidance, which makes a lot of sense in these highly uncertain times. It highlighted the benefits of explicit and specific guidance in certain situations but the current one simply doesn’t tick any of those boxes. As such, while a 25 basis point hike was appropriate at the last meeting – and I assume will be at the next – the central bank could move back to 50bps should the data warrant it. That all sounds very sensible. Traders may be tempted to sidestep cryptos for a while Bitcoin is fighting back this morning but it remains very much on the ropes. Gains of more than 2% barely offset the losses since Friday, let alone what came earlier that week. Cryptos remain very vulnerable, not just to the fallout from FTX – the full extent of which remains a cloud of uncertainty over the industry – but also to what else may be uncovered as the environment becomes ever more challenging. What we’ve seen recently will be discouraging to some who may have become tempted in recent years but with rates no longer at zero and more traditional assets arguably becoming attractive once more, traders may be tempted to sidestep cryptos and wait for the storm to pass. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
ByBit talks trading bots. What are they? How can they help?

Elon Musk talks "crypto winter" and survival of the leading cryptocurrency. Janet Yellen (US Treasury Secretary) comments on regulating crypto industry

Alex Kuptsikevich Alex Kuptsikevich 15.11.2022 10:46
Market picture Bitcoin is trading in the $16.7K area (+1.6% in 24 hours), a significant consolidation area of the past five days. It was helped back to these levels by the news of Binance launching a fund to help cryptocurrency companies experiencing temporary liquidity difficulties. The information has stopped a wave of selloffs but has yet to be able to turn the market around. On the intraday charts of BTCUSD, there is a notable resistance area near the current price. In Ethereum, the situation is very similar, and the price fails to develop a growth above $1250 (+2.2% in 24 hours). The two most popular cryptocurrencies have the largest share of institutional investors, whose confidence in the sector has been eroded recently. It is their professional unloading into the market that we are now seeing on the charts. Read next: Fed may delay the rate of its interest rate hiking cycle, Musk’s Tesla lawsuit to hit court, U.S stock market rally| FXMAG.COM The entire crypto market is more enthusiastic, adding 4.3% in capitalisation overnight to $841B, according to CoinMarketCap estimates. According to CoinShares, investments in cryptocurrencies rose last week to their highest in three months. Inflows of $42M compared to outflows of $16M a week earlier. Bitcoin investments rose by $19M, and Ethereum by $3M. Investments in funds that allow shorts on bitcoin increased by $13M. Altcoin basket products attracted the highest since June by $8M. Investors saw the FTX collapse as an investment opportunity, CoinShares noted. According to Glassnode, BTC withdrawals from cryptocurrency exchanges reached an all-time high of 106,000 BTC for the month. Previously, the market has only experienced similar BTC outflows three times in history. Zhao and Saylor suggest cold wallets Binance CEO Changpeng Zhao and MicroStrategy founder Michael Saylor urged users to store assets in cold wallets, especially during "market turbulence". According to Bloomberg, FTX customers are unlikely to get their funds back. Elon Musk said the crypto winter could be long, but bitcoin would eventually survive. The collapse of FTX showed that the cryptocurrency industry needs "prudent regulation", US Treasury Secretary Janet Yellen said. The consequences of the incident could have been much worse if the crypto market had been more connected to the traditional financial system, she said.
The Ethereum Has Located Just Above The Key Short-Term Technical Support

The Fundamental Interest In Ethereum Is Much Higher Than In Bitcoin

InstaForex Analysis InstaForex Analysis 15.11.2022 13:18
Last week was one of the worst stretches for the crypto industry over the past two years. The main assets have updated local lows, and the market capitalization has decreased to $740 billion. Ethereum last week Quotes of the main altcoin also sank significantly following the results of the previous trading week. Ethereum fell in price from $1,650 and updated the local bottom around the round $1,000 mark. However, unlike Bitcoin, Ethereum has managed to attract the attention of big business. Ethereum was falling down to the level of $1,200, where stability appeared, which indicated the activation of buyers. Santiment confirm that the buying sentiment of the big business towards ETH has increased significantly during the market crash. Analysts noted that addresses holding 100,000–1,000,000 ETH bought more than 650,000 ETH at the peak of the market decline. In part, it was the activation of big capital that allowed Ethereum to slow down the fall near the $1,200 area and maintain the $1,000 level. A massive buyout of ETH/USD near $1,000 indicates the market's readiness to defend this frontier. In the medium term, this may mean that the local bottom of the main altcoin is formed precisely in the range of $1,000–$1,200. ETH/USD analysis The second key moment, showing the stability of ETH in comparison with Bitcoin, is a powerful attempt to form a bullish engulfing pattern on November 10th. The bulls failed but allowed the altcoin to gain a foothold above $1,200. Subsequently, Ethereum continued its local decline, following Bitcoin, but managed to maintain the $1,200 support zone. In the short term, the main target of the altcoin will be the line of $1,280–$1,350. If it breaks out of this zone, ETH will follow to the resistance level near $1,450. On the daily chart, the situation looks uncertain, as the potential of the bulls was exhausted after the retest of the $1,300 level. At the end of the current trading day, ETH is trying to storm the upper border of the $1,350 area, but technical metrics indicate the weakness of buyers. The MACD indicator on the daily chart is moving in a downward direction in the red zone. At the same time, the stochastic oscillator has formed a bullish crossover near the level of 35, and the RSI shows an increase in buying activity. The probability of a breakdown of $1,300 at the end of the current trading day is small since, before that, Ethereum had been moving near the $1,300 level for more than a month. In addition, the market is not in optimal conditions to maintain an upward momentum. Daily ETH trading volumes barely reach $13 billion. Results Ethereum needs a local pause to stabilize the situation and reduce the level of volatility. The fundamental interest in Ethereum is much higher than in Bitcoin at the current stage. Given this, it is likely that it is the altcoin that will resume the recovery movement towards the $1,500–$1,600 levels. In addition, do not forget that Glassnode experts record the largest increase in stablecoins on exchanges in history. Historically, the growth in the volume of stablecoins indicates the readiness of large capital for mass purchases. Given the growing open interest of "whales" in ETH, there is every reason to believe that altcoin will be the priority target for buying.     Relevance up to 10:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327160
US Dollar Plunges Despite Hawkish Fed Expectations, Inflation Data and Sentiment Indicators in Focus

World’s Population Has Reached 8 Billion People | Trump’s Third Run For President

Kamila Szypuła Kamila Szypuła 16.11.2022 11:59
Once again we can get to know Jim Cramer's comments on the stock market. The market of new technologies, including cryptocurrencies, deserves attention. In addition, information about the re-candidacy of Donald Trump appeared. In this article: Stock Market via Jim Cramer Global Population Trump’s campaign Cryptocurrencies NVIDIA Jim Cramer’s comments Mad Money On CNBC tweets stock market situations.   Stocks rose on Tuesday after the October producer price index data signaled that inflation is cooling. https://t.co/gIMz8ZPn4q — Mad Money On CNBC (@MadMoneyOnCNBC) November 16, 2022 Jim Cramer observes and comments on the situation on the stock market. His comments are very valuable as he is an expert in this field. In his opinion, the current rally in the market may last until the middle of next month, based on chart analysis. 8 billion people The IMF in its post addresses the topic of demographic problems Today the world’s population has reached 8 billion people. But the greatest demographic challenge facing the world is actually population aging, according to @HarvardChanSPH's David E. Bloom and Leo M. Zucker. Read their new F&D article here. https://t.co/ahrBTUSg8F — IMF (@IMFNews) November 15, 2022 On November 15, humanity surpassed 8 billion, but what does that mean? For a long time we have been struggling with general overpopulation, which can have ecological, political and economic consequences. In highly developed countries, the main problem is an aging society, in such countries large families are reluctantly established because it is associated with costs and high responsibility, and now the focus is on career. In underdeveloped countries, where sex education is very low, more and more children are born, which deepens poverty. Alan Weusman in his book Countdown: Our Last, Best Hope For A Future On Earth? have addressed this problem. As we know, the more people, the greater the demand for food, water and a place to live, which will also affect the condition of our planet, and the economy may struggle with greater problems of poverty or other problems. Donald Trump will try again CNBC Now tweeted that Donald Trump will run for president again. Donald Trump launches 2024 presidential campaign https://t.co/zw0nXvNnHv — CNBC Now (@CNBCnow) November 16, 2022 There are still two years until the presidential election in the United States. Former President Donald Trump has officially launched a campaign for president in 2024. The announcement comes just a week after Republicans lost key midterm races. I recently wrote about the Speaker of the United States House of Representatives' endorsement of President Joe Biden's re-election. In connection with the information received, is there a possibility of another revalidation on the Biden-Trump line for the presidency. Recall that in 2020 Trump sought re-election and lost. Cryptocurrencies are extremely volatile Morningstar, Inc. tweets about the lesson that investors got on the example of cryptocurrencies. What lessons can investors take away from crypto's implosion?For one, the dangers of volatility cannot be avoided, writes John Rekenthaler. https://t.co/xOG2nEG4H2 pic.twitter.com/RoNQ1B6G6E — Morningstar, Inc. (@MorningstarInc) November 15, 2022 Some markets are more prone to volatility than others, but volatility is always very likely. This statement comes as no surprise. Cybercurrency buffs can trade countless differences between various digital assets and debate which ones have the brightest future, but knowing them didn't prove helpful when the cryptocurrency bear market hit. A year ago, cryptocurrencies were all the rage. Now the situation in this market is different. What more conclusions can current and future investors draw, maybe the CEO of Binance is right in saying that the market needs regulation? New technologies market Bloomberg Terminal tweets about new technologies market A faltering metaverse, a stagnating crypto market, and weakness in the gaming market signals that @nvidia's gaming arm may need an extra life. Check out the graphics using MODL <GO> on the #BloombergTerminal as Nvidia reports earnings. pic.twitter.com/HiAhopnww9 — Bloomberg Terminal (@TheTerminal) November 15, 2022 Stagnation in the cryptocurrency market and more affects the gaming market, including NVIDIA.As the tweet shows, the situation on the new technologies market is difficult.
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Latest Drop In Mining Of Bitcoin Reserves Is The Sharpest

InstaForex Analysis InstaForex Analysis 16.11.2022 12:09
Crypto Industry News: Data shows that bitcoin miners dropped around 7,700 BTC in the last week, resulting in a nearly 10% drop in their reserves over the period. According to Glassnode's latest weekly report, the latest drop in mining reserves is the sharpest since September 2018. "Miner Balance" is an indicator that measures the total amount of Bitcoin currently held in the wallets of all miners. When the value of this indicator increases, it means that miners are just transferring resources to their wallets. Such a trend, if prolonged, may indicate accumulation from the chain validators and therefore may turn out to be bullish for the price. On the other hand, the drop in the rate suggests that miners are now withdrawing their BTC from their reserves. In general, miners transfer their funds for selling purposes, so this kind of trend can be bearish for crypto. Over the last week, the value of the index fell by 7.76 thousand. BTC, which is a total decrease of about 9.5%. According to this indicator, miners currently spend 6.45 thousand. BTC per month, which is more than during any sale in the last few years. In fact, the current monthly decline in miners' reserves is the sharpest since September 2018. Miners were under tremendous pressure before the latest crash as a long and deep bear market steadily reduced their profits. Technical Market Outlook: The BTC/USD pair has bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet as the market keeps trading up and down in a whipsaw mode. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301239
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Work On The CBDC Pilot Program Is In Full Swing

InstaForex Analysis InstaForex Analysis 16.11.2022 12:16
Crypto Industry News: While the eyes of the entire cryptocurrency world have recently turned to the stench caused by the demise of FTX, the work on introducing the biggest nemesis of supporters of financial freedom and anonymity, the infamous Central Bank Digital Currency (CBDC) is in full swing. According to information published by the media, the largest banking giants (including Citigroup Inc, HSBC Holdings, Mastercard, Wells Fargo) in partnership with the New York branch of the FED are just starting a 12-week pilot CBDC program. According to information from representatives of the Innovation Center at the New York branch of the Federal Reserve Bank, the project is referred to as a working "regulated accountability network" and will be carried out in a test environment using simulated data. The official goal of the pilot program is to test whether banks will be able to accelerate payments using digital dollar tokens in a common database. Recently, the head of the New York Fed's market group, a certain Michelle Neal, admitted that the possibilities of speeding up the time of settlement in the foreign exchange markets thanks to CBDC look "really promising". Technical Market Outlook: The Ethereum market has been seen consolidating in a narrow range located between the levels of $1,219 - $1,281 as the traders await for a trigger of the next wave up or down. So far the bulls retraced above 38% of the last wave down and been capped at the local high seen at $1,347. The intraday technical support is seen at $1,219, $1,191 and $1,170 (H4 Pin Bar low). The intraday technical resistance is located at $1,281 and $1,343. Momentum on the H4 time frame chart remains bouncing up and down around the neutral level of fifty. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301241
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Cryptocurrency Market Expects A Stagnation And A Decrease In Trading Activity

InstaForex Analysis InstaForex Analysis 16.11.2022 14:26
Over the past few days, the cryptocurrency market has been digesting the events of the first half of November, which may give the impression that the situation has stabilized. In fact, there are many processes going on inside the industry that will become apparent only after some time. Consequences of updating the local bottom of BTC The fall of Bitcoin below $17k provoked a series of events that could aggravate the current state of affairs. JPMorgan bank experts have repeatedly stated that following the results of the current bear market, the main cryptocurrency will not stop at $15k. Analysts concluded that after the asset's quotes fell below $17k, Bitcoin became much closer to reaching the cost price level. If BTC tests or falls below the $11k–$13k area, the market may wait for a series of margin calls. Despite the absence of resonant news and events, investors are starting to withdraw Bitcoin from centralized platforms. Glassnode records record BTC outflows from crypto exchanges. Over the past week, the volume of funds withdrawn reached 157,000 BTC. There is also a record capitulation of miners over the past five years against the backdrop of updating the local bottom with Bitcoin. According to on-chain data, mining companies sold about 7,760 BTC last week. The growing volumes of BTC coins sold indicate a significant deterioration in the state of affairs of miners. Another worrying news was the possible bankruptcy of cryptocurrency lender BlockFi. Shortly before the news broke, the platform blocked the withdrawal of funds due to the bankruptcy of FTX. It is likely that BlockFi will be the first company to be hit by the FTX drop. Is it not so bad in the medium term? As for the longer run, there are positive signals that will help the market recover. Fed Vice Chairman Lael Brainard said that the latest inflation data will allow the regulator to slow down the key rate increase. In addition, Santiment and Glassnode record the activation of long-term investors who are buying back the current market bottom. There is a significant increase in the number of addresses with balances from 0.1 to 100 BTC. Wallets with a balance of 100 to 1,000 BTC are also actively using the discount window on the crypto market. BTC/USD technical analysis Bitcoin continues to consolidate in a narrow range of $15.7k–$17.2k. The main support area of the cryptocurrency was the level of $16.7k. As long as the asset holds this milestone, buyers have a chance to gain a foothold above the key resistance zone at $17.2k. As expected, trading volumes dropped significantly after updating the local bottom. It is worth adding that the outflow of users also provoked the collapse of FTX, and the reputation of centralized platforms was seriously shaken. Despite all these factors, buyers are trying to recover above $17k. The technical metrics of the asset do not show signals for a serious change in the situation in the next few days . RSI and stochastic are moving flat near the lower border of the bullish zone. At the same time, MACD turned sideways, which may be the first signal to end the dominance of sellers. At the same time, it is not worth counting on a serious recovery movement since the cryptocurrency has completely broken the correlation with stock indices. The stock market has shown good growth over the past two weeks, while the crypto market has updated the local bottom. Results In the near future, we should expect a lull in the crypto market and a decrease in trading activity. The main catalysts for significant changes will be fundamental news about the collapse of another crypto company or mining company. Given JPMorgan's forecast for BTC falling to $13k and this indicator corresponding to an 85% drop from the absolute high, there is a possibility of a further decline in BTC/USD. At the same time, this is most likely to happen before mid-December since, subsequently, the market is waiting for a positively saturated period.   Relevance up to 10:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327282
Bitcoin Has Strong Sign That Buyers Are In Control

The Bitcoin Cryptocurrency Is On The Verge Of A Collapse

InstaForex Analysis InstaForex Analysis 16.11.2022 14:34
It has been over a week since the flagship cryptocurrency consolidated below the 127.2% Fibonacci retracement of $18,500. Currently, bitcoin is hovering at around $16,900 per coin. Even before the collapse of the FTX exchange, digital gold traded in the range of $19,000-20,000. In the near term, it is unlikely to fully recover. Bitcoin is now closer to its annual lows than to the levels it traded at in the past 5 months. Clearly, trust in crypto exchanges and BTC was lost in light of recent events, and it has not been regained yet. Consequently, we may expect the continuation of the downtrend. In our view, the mark of $18,500 was a very important psychological level. Indeed, the price was unable to fall below it for 5 months. Moreover, it did not show significant growth during that time, and that would allow us to feel the presence of bulls in the market. However, we see that even after the collapse, investors are reluctant to buy the flagship cryptocurrency, which means they expect the continuation of the downtrend. At the same time, Morgan Stanley experts say BTC may slide to $14,000. They believe the market is still digesting FTX's bankruptcy and is bracing for stronger selling pressure. Morgan Stanley does not exclude the possibility of a fall in BTC to $12,500. We assume it may go down to $12,426. In the best-case scenario, the bank's experts say, the digital asset will stay in the range of $14,000-16,000 per coin. We have expected bitcoin to resume the downtrend for a long time. We saw it at $12,500 long before FTX collapsed and even lower afterwards. Despite an increase in risk sentiment that helped the euro and the pound to recover against the dollar, bitcoin is still at risk. Previously, bitcoin's main advantage was believed to be its decentralization and the lack of regulation from central banks. Now when the cryptocurrency is on the verge of a collapse, some stability and regulation would be a good thing ... In the 24-hour time frame, BTC quotes finally made a successful attempt to break through the mark of $18,500. In our view, the fall may now continue to $12,426. As expected, a breakout through the descending trend line was not the end of the bearish trend, as the price moved within the sideways channel at the same time. With the lower limit of this channel broken, the quote may continue falling. Relevance up to 13:00 2022-11-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327302
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

According to Crypto Fund Research, cryptocurrency funds' losses may amount to $5bn because of FTX crash

Alex Kuptsikevich Alex Kuptsikevich 16.11.2022 15:05
Market picture Bitcoin is trading at around $16.8K with no significant changes overnight and in the consolidation area of the last five days. The panic sell-off appears to be over, with key stablecoins regaining their pegs. The market capitalisation stands at $847 billion (+0.2% overnight). Bitcoin is consolidating near the 23.6% retracement of the 5-10 November collapse. Failure to go higher indicates heavy selling pressure, suggesting a higher chance of losing 1k in value than going up by the same amount. This pattern suggests that if it fails under $15.6K (the low of the drop), the next target for the bears will be the 12K area. This is also where the 2019 cyclical highs and the August 2020 pivot area are located. News background The decline in HODLer balances does not indicate a widespread loss of confidence in bitcoin's prospects, Glassnode notes. However, miners have sold off almost 10% of their bitcoin holdings amid the collapse of FTX. Initial estimates by Crypto Fund Research suggest that cryptocurrency funds' losses due to the FTX bankruptcy could be as much as $5 billion, but final estimates could be much higher. The FTX bankruptcy led to a panic among crypto investors and a massive withdrawal of assets from centralised exchanges. Collectively, exchanges have lost more than $5bn in the past week. Binance CEO Changpeng Zhao and MicroStrategy founder Michael Saylor urged users to keep assets in cold wallets, especially during "market turbulence". Cryptocurrency holders are predominantly doing so, with hardware crypto-wallet providers Trezor and Ledger reporting multiple growths on their products. According to Citigroup, trading volume on decentralised exchanges soared 30% in November. Changpeng Zhao, head of Binance, proposed an association to bring together major players in the crypto industry to work with policymakers and regulators. He announced six critical requirements for centralised exchanges. The Bank for International Settlements (BIS) conducted a study on the motives of cryptocurrency investors. As it turned out, the main reason for investing in digital assets was lust for profit rather than distrust of traditional banks and government institutions.
Bitcoin is trying to resume its upward movement

The New Turmoil In The Cryptocurrency Market And The Lack Of Big Buyers

InstaForex Analysis InstaForex Analysis 17.11.2022 09:33
Crypto Industry News: The collapse of cryptocurrency exchange FTX has derailed an emerging positive outlook in cryptocurrency markets after significant deleveraging in May and June left few, if any, marginal sellers in the digital asset space. The new turmoil in the cryptocurrency market and the lack of big buyers have left the sector vulnerable, potentially extending an already long cryptocurrency winter. FTX insolvency proceedings will be closely monitored. However, for the digital asset sector, much depends on the path of US interest rates. It is highly likely that the market will see "side effects" from the collapse of FTX. It will be revealed who has borrowed or interacted with the exchange or its company, Alameda Research, and what those liabilities are. Poor liquidity could last at least until the end of the year and stablecoin dominance could rise to a very high 18% of total cryptocurrency market capitalization. That factor dropped to about $800 billion as of November 12. At the end of last month, the market capitalization was around $1 trillion. Technical Market Outlook: The volatility dried up after Bitcoin bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet as the market keeps trading up and down in a whipsaw mode. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301385
Ethereum Could Drop Deeper As The Bias Remains Bearish

Discussions Whether Crypto Platforms Do Falsify Their Reports

InstaForex Analysis InstaForex Analysis 17.11.2022 10:02
Crypto Industry News: The bankruptcy of the FTX exchange founded by Sam Bankman-Fried and the mysterious events related to it have recently electrified the cryptocurrency community from around the world. Once again, thousands of investors have lost their funds, and more bankruptcies are looming on the horizon, as both FTX and Alameda Research have sponsored many smaller, but also leading projects in the digital asset industry. To ensure the transparency and security of user funds, the largest crypto exchanges publish audits and reports of their portfolios en masse. The platform founded by CZ is one of the main drivers of the recent turmoil. Now, as one of the first, she decided to introduce clients to the complexity of her portfolio. How does he present himself? The funds are located in 65% on the Ethereum chain, and in 19.12% on the TRON network. Next are the Bitcoin blockchain (10.65%) and the popular BNB Chain (5.15%). The total amount in dollars is over 64.3 billion. The allocation of tokens seems to be very well thought out, because the list below shows only fundamentally strong projects. We could write for hours about the current state of the largest crypto exchanges. Currently, there are discussions whether the platforms do not falsify their reports, helping themselves temporarily in shaping the portfolio. Regardless of how honest their current movements are, it is worth at least diversifying the location of your funds for your own peace of mind, among other things, into hardware wallets that are generally considered safe. Technical Market Outlook: The Ethereum market has been seen consolidating in a narrow range located between the levels of $1,219 - $1,281 as the traders await for a trigger of the next wave up or down. The volatility is very low, however the bulls retraced 38% of the last wave down and were capped at the local high seen at $1,347. The intraday technical support is seen at $1,219, $1,191 and $1,170 (H4 Pin Bar low). The intraday technical resistance is located at $1,281 and $1,343. Momentum on the H4 time frame chart remains bouncing up and down around the neutral level of fifty. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301387
Oanda Podcast: US Jobs Report, SVB Financial Fallout And More

Strong US Retail Sales | Crypto Contagion Continues

Swissquote Bank Swissquote Bank 17.11.2022 10:45
Better-than-expected US retail sales didn’t please investors yesterday, as it fueled, again, inflation expectations. Higher inflation expectations fueled the hawkish Federal Reserve (Fed) expectations. And hawkish Fed expectations fueled recession worries – without however Fed being there to disperse cheap money. Stock Market US indices gave back gains yesterday. The S&P500 slid 0.83% and Nasdaq fell 1.54%. Earnings Sour earnings from Target, which highlighted that nice-to-have stuff like clothes and electronics didn’t sell well in the latest quarter, because of rising prices, didn’t help lift the investor mood. US Elsewhere, JP Morgan economists said they expect the US to enter a mild recession next year because of the rising rates and the tightening monetary conditions. Global economy Prospect of slower global economy, along with the de-escalation of geopolitical tensions on news that the rockets that hit Poland this week were from the Ukrainian defense, and probably landed in Poland by accident, pulled oil prices lower yesterday. UK In the UK, the government will announce its much-expected budget today. It won’t be pretty for people, but it should be ok for investors. Crypto In cryptocurrencies, the knock-on effects of FTX collapse continue to be felt but Bitcoin price remains resilient near $16K. Watch the full episode to find out more! 0:00 Intro 0:31 Strong US retail sales dampen mood 1:22 Target disappointed 3:25 JP hinted at mild US recession, oil fell 5:44 UK Budget Day! 7:32 Crypto contagion continues, but Bitcoin resists 8:59 Gold hits long-term trend top Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #UK #Budget #US #retail #sales #Walmart #Target #earnings #USD #GBP #XAU #Bitcoin #FTX #BlockFi #Genesis #Gemini #contagion #selloff #crude #oil #recession #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Bitcoin Is Showing The Potential For The Further Downside Rotation

BlockFi may file for bankruptcy. According to Coinbase, cryptocurrency winter may last longer

Alex Kuptsikevich Alex Kuptsikevich 17.11.2022 11:29
Cryptocurrency Fear and Greed Index shows "extreme fear" Bitcoin moved between $16.3K and $17.0K on Wednesday and is changing hands Thursday morning closer to the lower bound of yesterday's range. Some pressure on crypto comes from more wary financial markets, where major indices are down. The total capitalisation of the crypto market has fallen by 1.7% to $830bn in the last 24 hours. However, the overall quieter trading pattern should be noted after the surge in volatility in recent days. Crypto Fear and Greed Index was down 3 points to 20 by Thursday and remains in a state of "extreme fear". On the technical analysis side, Bitcoin's failure to cross $17.0K looks like a corrective rebound to lock in profits before a new round of declines. This scenario will only become main after the price approaches local lows near $15.8K, opening the way to $12K. Ethereum is under more pressure, forming a sequence of declining intraday extremes. At the current price near $1200, we can see the dam-breaking effect at levels below $1100. A similar pattern is seen in the overall cryptocurrency market capitalisation chart, where we see local reversals from lower levels. Pantera Capital's predicts a decline of Bitcoin price According to The Wall Street Journal, crypto lending platform BlockFi is preparing to file for bankruptcy. The company has acknowledged significant exposure to the FTX exchange. Last week BlockFi suspended customer withdrawals. The collapse of FTX affected too many companies, which could extend the crypto winter to the end of 2023, according to cryptocurrency exchange Coinbase. Many institutional funds are stuck on FTX, causing increased distrust in the industry. Stablecoins dominance has reached a new high of 18%. Bitcoin will fall heavily in November and hit "the bottom", forecasts Pantera Capital's crypto fund. BTC will then rise to $36,000 ahead of the next halving in March 2024 and continue to grow to a new record peak of $149,000. According to the average results of a survey conducted by BDC Consulting among 53 cryptocurrency executives, bitcoin will stop the decline at $11,479. Meanwhile, over half of top executives intend to increase their investments in cryptocurrencies and have no plans to cut back.
RBI's Strategic INR Support: Factors Behind India's Stable Currency Amidst Global Challenges

Warren Buffett Is Not The Biggest Fan Of Diversification

Conotoxia Comments Conotoxia Comments 17.11.2022 12:03
On Monday, we saw the 13F report published by Warren Buffett's fund (a report on assets filed by investment fund managers). In it, we got to know the new companies that the American billionaire's fund has bought for its portfolio. This investor has recently taken a particularly cautious approach to investing. Is this information a sign to make purchases? Warren Buffett's current portfolio Buffett, regarded as one of the world's top investors, has seemed reluctant to make new purchases in recent years. Currently, his securities are valued at USD 296 billion, with Apple (Apple) shares being the largest item in his portfolio, accounting for a staggering 42% of the portfolio value. In second place are Bank of America (BankofUS) shares, accounting for 10%, and in last place on the podium are Chevron Corp (Chevron) shares, accounting for 8% of the portfolio value. As you could see, Buffett is not the biggest fan of diversification. His investment portfolio currently consists of 49 (mainly US) publicly listed companies, but the top 5 positions account for as much as 74.5%. The current financial crisis does not seem to have had a significant impact on the billionaire's investments. Since the October lows on the stock markets, the value of Bekrshire Hathaway (BerkshireHa) shares has risen by more than 18%, compared to 13% against the S&P 500 index (US500). Source: Conotoxia MT5, BerkshireHa, Daily Berkshire Hathaway's new purchases in Q3 this year. The most surprising new purchase appears to be shares in one of the world's largest semiconductor manufacturers, Taiwan Semiconductor Manufacturing (TaiwanSemic). This company manufactures, tests and sells integrated circuits. Interestingly, one of its significant customers is Apple, Buffett's largest investment position. Does this mean a redirection of capital by the fund to the East? The company currently accounts for 1.4% of the value of his portfolio. Source: Conotoxia MT5, TaiwanSemic, Daily The second newcomer is Jefferies Financial Group (Jefferies) a US multinational independent investment bank and financial services company. Which, when purchased, represents only 0.05% of the portfolio and is one of the smallest positions in the fund. However, it appears to be a stable company with positive operating profits. Source: Conotoxia MT5, Jefferies, Daily Buffett increased investments in, among others: Occidental Petroleum Corporation (OcPetroleum) - by 22%, Paramount Global (Paramount) - by 16%, Chevron Corp. (Chevron) - by 2% and RH Common Stock (Rh) - by 8%. We could also learn from the 13F report that it has reduced its position in 6 companies, and closed completely one of them from the real estate sector STORE Capital Corp (STORE). Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.    
Buffer Finance And What Can Offer To Its Users

The Uniqueness Of The GMX System And How To Use It

Binance Academy Binance Academy 17.11.2022 13:28
TL;DR GMX is a decentralized, permissionless perpetual swap and spot exchange. Traders can use it to easily trade cryptocurrency on-chain just by connecting their wallets. GMX has a native token called GMX, which functions as a governance, utility, and value-accrual token for the GMX protocol. Users can stake GMX tokens and earn a portion of GMX’s protocol fees, plus benefit from other incentives. GMX currently supports the Arbitrum and Avalanche networks. Introduction Blockchain and its application to finance, cryptocurrency, enabled the development of decentralized finance (DeFi). The mainstream recognition of DeFi started in 2020 with what is called "DeFi summer." Now, GMX demonstrates that it's possible to do leveraged perpetual and spot exchange trading in a decentralized fashion. The trading experience resembles the functionalities of centralized exchanges, but it's done directly from a personal cryptocurrency wallet. Learn more on Binance.com What is GMX? GMX is a decentralized spot and perpetual exchange that enables users to trade BTC, ETH and other popular cryptocurrencies directly from their crypto wallets. The GMX user can do spot swaps and trade perpetual futures up to 30x leverage, similarly to how it's done on a centralized exchange. However, contrary to using a centralized exchange, they keep custody of their assets by utilizing a cryptocurrency wallet. GMX aims to provide a better trading experience with low swap fees and zero-price impact trades. The trading happens through its native multi-asset pool, GLP, which earns fees for liquidity providers. In addition, GMX uses Chainlink Oracles for dynamic pricing to aggregate prices from other high-volume exchanges. GMX first launched on the Arbitrum One blockchain when the network went live in September 2021. Arbitrum is an Ethereum layer-2 Rollup, a solution designed to boost the speed and scalability of Ethereum smart contracts. Later, in January 2022, the deployment of GMX continued on Avalanche, which is also a high-speed EVM-compatible blockchain. How Does GMX Work?  The trading on GMX is facilitated by a multi-asset pool called GLP. It consists of 50-55% stablecoins, 25% ETH, 20% BTC, and 5-10% other altcoins, such as Chainlink and Uniswap. The liquidity is added when users mint GMX Liquidity Provider Tokens (GLP). In exchange for minting GLP, they earn 70% of all fees generated on that particular blockchain. Contrary to some liquidity pools, GLP suffers no impermanent loss. Anyone can become a supplier of this liquidity pool and, in return, earn fees. And users who want to trade perpetual swaps or spot can do it using the assets provided. Moreover, the GLP pool is a counterparty to the traders; as GLP token holders provide the liquidity used for leverage trading, they profit when traders lose — and vice versa. The GLP token can be minted using any of its index assets and burnt to redeem any index asset. Unlike the GMX token, it is automatically staked and not transferable. GLP's price, rewards, and index composition differ between Arbitrum and Avalanche. What is the GMX Token?  The GMX token is a utility and governance token. Token holders can use it to vote on proposals to help decide the exchange's future direction. The token holders who stake their GMX also get three other rewards, which the protocol uses to reward users. Firstly, 30% of all generated protocol fees are distributed to GMX stakers. These fees are collected from market making, swap fees, and leverage trading, and are paid in ETH or AVAX. Secondly, the stakers earn escrowed GMX (esGMX) tokens. These esGMX tokens can be either staked for rewards as well, or vested. The tokens get converted back into GMX over 12 months when a user vests them. Therefore, esGMX emissions are a form of locked staking that prevents inflation and people from immediately selling their GMX. Lastly, stakers earn Multiplier Points that boost their yield and reward long-term holders without contributing to token inflation. These dual incentives stimulate commitment to GMX and further the platform's decentralized ownership. The GMX token has a maximum supply of 13.25 million, with 8.2 million circulating. More than 83% of the circulating tokens are currently staked. What Makes GMX Unique? The trading system GMX allows traders to open leveraged positions through a simple swap interface, which resembles traditional trading platforms. In addition, GMX is self-custodial and trustless, meaning anyone can trade cryptocurrency straight from their private wallet. Its dual exchange model supports both spot swaps and leveraged trading of perpetual swaps. This should improve capital efficiency due to the high asset utilization of the GLP pool, which lets user deposits generate extra yield and not sit idle. GMX allows entering and exiting trading positions with no price impact. This design may help traders get better entry prices than some order book-based exchanges, which might have issues with slippage. GMX also uses an aggregate of Chainlink Oracles and other price feeds to smooth out price fluctuations, which can keep positions safe from temporary liquidation wicks. The ecosystem GMX emphasizes the importance of community and has tried to foster the DeFi mindset of engagement and tool-building amongst its users. Its community-built tools include a Telegram positions bot, the gmx.house leaderboard, the gmxstats.com page, Dune Analytics Dashboards, and calculators that benefit traders, stakers, and liquidity providers. GMX has a growing list of collaborative projects building DeFi functionality with GMX's composable lego blocks. The community also takes care of communication about the GMX ecosystem. For example, the community-driven weekly newsletter The Blueberry Pulse highlights developments in the GMX ecosystem. The Blueberry Podcast does the same in audio format. How to use GMX   Trading GMX's trading interface displays alongside the price chart. To start a leveraged trade, click "Long" or "Short" to set your preference. Simple, low-fee spot swaps are also available on GMX. Click on the "Swap" tab to open the interface to swap between the tokens in the GLP pool. The first token is the collateral you supply, while the token below is the asset you trade. The leverage slider indicates how much you borrow from the GLP pool. Limit orders, as well as take profit and stop loss orders, are available.  Open trades will appear under "Positions." You can click on “Edit” to deposit or withdraw collateral. Opening and closing a leveraged trade costs a fee of 0.1 percent of your position size. Traders also pay a utilization-dependent hourly borrowing fee. For detailed instructions, visit their trading help page. Staking To stake your GMX tokens and earn rewards, you need to connect your wallet and press the "Stake" button. Once you confirm the transaction on-chain in your wallet, you will start earning 30% of all GMX’s protocol fees, plus esGMX and Multiplier Points incentives. You will clearly see the three types of rewards increase under "Total Rewards" in the GMX user interface. You can click the "Compound" button to stake your earned rewards and compound your yield. How to Buy GMX on Binance You can buy GMX on cryptocurrency exchanges like Binance.  1. Log into your Binance account and go to [Trade] -> [Spot].  2. Type “GMX” in the search bar to view the available trading pairs. We will use GMX/BUSD as an example. 3. Go to the [Spot] box and enter the amount of GMX you want to buy. In this example, we will use a market order. Click [Buy GMX] to confirm your order, and the purchased GMX will be credited to your Spot Wallet. What’s next for GMX GMX's own decentralized autonomous organization (DAO), GMX DAO, planned its roadmap through its internal governance process. The vision of GMX is to become an even more complete and user-friendly DEX for on-chain leverage trading. The current roadmap includes: Synthetics Synthetics are to be a new class of tokens that will become available on the exchange. Synthetic crypto assets derive their value from any underlying asset, such as stock, commodity, or digital currency. They are essentially digital representations of derivatives.  Better UI and UX GMX strives to further refine the user interface (UI) and user experience (UX) of the protocol for the users. For example, it's planning to integrate TradingView charts into the platform. X4: Protocol Controlled Exchange The longer time-frame vision of GMX is to become an advanced automated market maker (AMM) that allows other DeFi projects to build on top of its liquidity pools, and customize the functions of their pool entirely. These projects could then specify any custom behavior they would like on buying and selling tokens and for adding and removing liquidity. Network expansion GMX also plans to roll out the exchange on a third blockchain network, alongside Arbitrum and Avalanche. Closing thoughts Cryptocurrency trading has come a long way. GMX enables anyone with a cryptocurrency wallet to benefit from its transparent decentralized exchange services. Firstly, traders can use its perpetual swap and spot exchange platform. Secondly, users can enjoy various benefits and have a say in governance by owning GMX tokens. As we have learned, the GMX community decides about the platform's future; therefore, new services may still be added on top of what the exchange already offers.     
Bitcoin Is Showing A Good Sign For The Further Rise

Bitcoin: The Final Stage Of The Current Bear Market

InstaForex Analysis InstaForex Analysis 17.11.2022 14:17
The cryptocurrency market is going through the most volatile and difficult period of the current bear market. The FTX situation has become a catalyst for the mass withdrawal of funds from centralized crypto exchanges to "cold wallets." At the same time, the fear and greed index is near the level of 20, which did not correspond to the previous stages of the formation of the local bottom. In other words, the current situation has negatively affected investors' interest in the crypto market at a fundamental level. First of all, this affected long-term holders, who find it more profitable to store cryptocurrency on a "cold wallet." This is a negative event for BTC/USD quotes since the collapse of FTX gave the bears complete superiority in technical terms. Given the further weakening of the bulls' positions, we can assume that the bottom of the market hasn't yet formed. Cyclicity If we consider the current situation from a historical point of view, we will come to the conclusion that the market capitalization has already reached the local bottom of the last cycle, near the level of $730 billion. As of November 17, with Bitcoin trading below $18k, the market capitalization reaches $830 billion. This could mean another plunge to the bottom, where the market capitalization will update its low below $730 billion. The same goes for Bitcoin, whose downside potential reaches the $12k–$15k area. The historical context says that during previous bear markets, the price of BTC lost up to 85%. As of November 17, Bitcoin has lost 77% of its capitalization, which indicates the likelihood of a further fall. Forecasts Pantera Capital CEO Dan Morehead noted that Bitcoin is likely to update the local bottom in November, after which it will move to the stage of protracted consolidation. The entrepreneur argued that the bottom of BTC is formed in 477–480 days. The end of November is the end of this period, and therefore Bitcoin has time to update the local bottom. Recall that JPMorgan analysts also expect Bitcoin to fall to $13k–$15k. Adds fuel to the fire of the liquidity problems of Genesis and Gemini. Massive outflow of funds and panic threaten the existence of large crypto companies. Additional factors At the same time, active sales of BTC/USD to mining market players continue. More than 7,500 BTC coins were sold last week, and there is every reason to believe that sales this week will be even higher. Analysts at Morgan Stanley say that a real recession in the global economy will begin after the completion of rate hike cycles. Recall that the Fed saw progress in the fight against inflation but aren't yet ready to change policy. The peak rate was raised to 4.75%–5.25%. The preservation of the current monetary policy and the deteriorating situation with liquidity in the crypto market will have a negative impact on the prospects for the recovery of BTC/USD quotes. Given this, we should expect a long-term consolidation. It is also worth taking stock of the long history of the "relationship" between Bitcoin and the stock market. The obvious conclusion is that the correlation between cryptocurrencies and stock indicators was strengthening during the downward trend of the instruments. The current rally in stocks shows that the correlation with Bitcoin was a situational phenomenon. BTC/USD Analysis On the daily chart of Bitcoin, there is a gradual tightening of the price and the formation of a triangle pattern. This is fraught with a surge in volatility and a breakout of the price of the current range. At the same time, technical metrics continue to move boringly sideways. It is worth paying attention to market sentiment on the largest crypto exchange. In the futures market, long volumes reached 70%, which indicates that players believe in further price increases. A clear imbalance in favor of long positions may indicate a downward breakdown of the emerging triangle. Also, a divergence between the price movement and the RSI index is formed on the weekly chart. A similar pattern was formed during the 2015 bear market, and it marked the final formation of the local bottom. There is no need to talk about the identity of situations, since the pattern of 2022 has just begun to form. Results Bitcoin and the cryptocurrency market are entering the final stage of the current bear market. The macroeconomic situation and turmoil within the industry itself point to the likelihood of a final takeaway. The final target for the bears will be the $12k–$15.8k area, and it is likely that it will complete the phase of the current downward cycle.   Relevance up to 11:00 2022-11-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327407
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Cryptocurrencies: last friday Tether (USDT) declined by 3%

Crypto.com Accelerate the... Crypto.com Accelerate the... 17.11.2022 20:58
Tether’s USDT stablecoin temporarily dropped 3%. 7-day DeFi weekly exchange volume hits $32 million. Weekly DeFi Index This week’s market cap and volume indices were negative at -20.07% and -15.63%, respectively, while volatility index was positive at +215.12%. Check the latest prices on Crypto.com/Price     DEX volume has been rising in the past week. Trading volume on Uniswap reached US$51 billion for November so far, which has already eclipsed October’s $29 billion. New users of Uniswap also reached a 2022 high at 55,550 daily transacting wallets.         News Highlight On 11 November, Tether’s USDT stablecoin temporarily dropped 3% below its dollar peg. DeFi weekly exchange volume hit $32 billion over the past seven days, according to Dune Analytics’s latest data, with several exchanges posting an overnight doubling of trading volumes on the heels of market events this week. Recent Research Reports     Argentina 2022 Survey Research Roundup Newsletter [October 2022] Alpha Navigator [October 2022] Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 Share with Friends Source: crypto.com
Bitcoin Has A Sign Of The Sideways Regime

Michael Burry (The Big Short) Believes It Is Time For Gold To Go Higher

InstaForex Analysis InstaForex Analysis 18.11.2022 09:03
Crypto Industry News: Michael Burry, known as "The Big Short", rarely gives interviews and does not comment on current events. This time it was different. Burry stated that he believes it is time for gold to go higher due to the risk of cryptocurrency contagion following the collapse of FTX. Burry, who runs the hedge fund Scion Asset Management, is known for finding the mortgage crisis early and making his fortune in the US housing bubble. In 2019, an investor also made millions buying GameStop shares, which happened long before Reddit acquired the shares. Burry rarely comments on gold events, which makes his current opinion much more unique to traders. According to him, the crypto chaos caused by the FTX saga sets the stage for gold nicely. Technical Market Outlook: The volatility dried up after Bitcoin bounced from the swing lows located at the level of $15,555 and tested the technical support seen at $17,600. Moreover, the bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made. The market conditions on the H4 time frame chart are still oversold, however, no significant breakout has been made yet as the market keeps trading up and down in a whipsaw mode. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. The market participants await for the breakout. Weekly Pivot Points: WR3 - $18,079 WR2 - $17,175 WR1 - $16,785 Weekly Pivot - $16,272 WS1 - $15,888 WS2 - $15,369 WS3 - $14,456 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301586
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

The Ethereum Market Has Been Seen Consolidating

InstaForex Analysis InstaForex Analysis 18.11.2022 09:10
Crypto Industry News: His entry was mostly warmly received by people and speculators talking about whether we have finally reached the long-awaited Bitcoin (BTC) low and we can talk about creating the foundations for a new bull market. Bukele's statement was also referred to by the creator and CEO of Tron (TRX), who also announced that his company, like El Salvador, intends to buy 1 BTC per day from tomorrow. Recall that El Salvador currently owns 2,381 Bitcoins (BTC), in which it has invested a total of $103 million. The value of Bukele's Bitcoin investment fell to $39.4 million. This will be the first Bitcoin (BTC) purchase made since June 30. The strategy of buying BTC announced by the president of El Salvador and the founder and CEO of Tron (TRX) is widely known as DCA (Dollar-Cost Averaging), or "averaging the purchase price" and if you watched YouTube guides on investing in cryptocurrencies (and not only), and there are certainly such people among you, then you have certainly met the term described many times. Currently, the average price at which El Salvador purchased BTC is $ 43,000. Starting purchases at the time of the lowest Bitcoin quotations in the current cycle (so far) should help Salvador compensate for some of the, quite substantial, losses. Technical Market Outlook: The Ethereum market has been seen consolidating in a narrow range located between the levels of $1,219 - $1,281 as the traders await for a trigger of the next wave up or down. The volatility is very low, however the bulls retraced 38% of the last wave down and were capped at the local high seen at $1,347. The intraday technical support is seen at $1,219, $1,191 and $1,170 (H4 Pin Bar low). The intraday technical resistance is located at $1,281 and $1,343. Momentum on the H4 time frame chart remains bouncing up and down around the neutral level of fifty. Weekly Pivot Points: WR3 - $1,247 WR2 - $1,237 WR1 - $1,231 Weekly Pivot - $1,227 WS1 - $1,221 WS2 - $1,217 WS3 - $1,207 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-19 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301588
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Nike announces its NFT marketplace, Yuga Labs takes over WENEW

Crypto.com Accelerate the... Crypto.com Accelerate the... 18.11.2022 09:58
Nike unveils its NFT marketplace .Swoosh. CryptoPunks’ floor price flipped Bored Ape Yacht Club. Yuga Labs acquired Beeple’s WENEW. New Project Spotlight NFT Collectibles [COMING SOON] “WearX by PUML” features in real-life and metaverse-compatible wearables by PUML Better Health, a move-to-earn fitness and wellness company from Brisbane, Australia. This collection drops on 21 November, exclusively on Crypto.com NFT. [COMING SOON] In Ruben Kos’s “Welcome to Paradise”, the artist takes viewers on a journey through dead landscapes and eerie nothingness. Featuring a series of self-manufactured structures, this collection will drop on Crypto.com NFT on 29 November. Blockchain Games [LIVE] Defira reveals the most popular hero races purchased on Cronos. In addition, it launched new farm rates that enable players to earn sFIRA (Sealed Fira) to power up their NFT items. [LIVE] CroSkulls is organising the Bonesville Cup on the FIFA World Cup™ fantasy game platform. The top three winners will receive prizes like the Founder Pet, S2 Pet Egg, and S2 Pet (Owl). NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea Bored Ape Yacht Club $6,613,000(+59%) $73,100 OpenSea CryptoPunks $4,429,000(-8%) $80,900 Crypto.com NFT Loaded Lions $594,000(+26%) $2,200 Minted VVS Miner Mole $79,000(-13%) $340 Minted Argonauts $60,000(-5%) $80 Crypto.com NFT Cyber Cubs $38,000(+119%) $220 Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 256K(-8%) $7K Trickshot Blitz Flow 65K(-51%) $36K Axie Infinity Ronin, ETH 47K(-13%) $7.3M Ultimate Champions Polygon 45K(+203%) $1K Tiny World BNB Chain 42K(+31%) $44K Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$6.65 billion, down -5% from last week.     News Highlights Nike unveiled its NFT marketplace, .Swoosh. It is currently in the beta phase, with its first collection set to launch in 2023. Virtual creations, such as digital sneakers, apparel, and accessories, will become available for collectors. CryptoPunks’ floor price flipped Bored Ape Yacht Club to regain the number one spot. The floor price of CryptoPunks remained relatively stable amidst the market turmoil, varying between 65 to 67 ETH in the past month. Bored Ape Yacht Club creator Yuga Labs acquired NFT startup WENEW, creator of the 10KTF project and other brand collaborations. As part of the deal, WENEW Co-founder Mike “Beeple” Winkelmann will join Yuga Labs as an advisor. Recent Research Reports     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES GAMEFI NFT Source: crypto.com
ByBit talks trading bots. What are they? How can they help?

Everybody wants to know... why does Bitcoin have value

FXMAG Education FXMAG Education 18.11.2022 12:06
Fiat money, which is defined as a currency that is not backed by material goods and which derives its value from trust in the issuer, the word comes from Latin fides meaning faith. Hence, this is how all known currencies have worked since 1971, that is, from the moment when the dollar ceased to be convertible to gold. So where do cryptocurrencies get their value from? How much is Bitcoin worth and are skeptics of this market really right? I invite you to the next episode of the Best Course on Cryptocurrencies, in which we will look at the value of Bitcoin. The value of Bitcoin The saying “The price is what you pay. Value is what you get” is a famous quote from one of the world's greatest investors, Warren Buffett. So what do we get when we buy Bitcoin ? Unlike traditional fiat currencies, Bitcoin does not have a central bank and its structure is decentralized. Bitcoin is based on blockchain technology, which in short offers a high level of security, usability, but also copes with the transfer of value on a global scale. What is value? Why does money have value? As mentioned previously, value is based on trust, and the monetary system itself is based on a fractional reserve system. Which means that purely theoretically, currencies can be printed without restrictions, this is happening basically before our eyes. Discussions have been going on for a long time about whether the monetary system in which we operate will actually stand the test of time. In the world of cryptocurrencies , individual cryptocurrencies derive their value from different aspects. For example, when we find a cryptocurrency that is linked to gold, we have utility tokens whose value results from a specific service or project. We will look at the value of the most famous cryptocurrency, Bitcoin. However, we absolutely should not throw about assessing the value of individual cryptocurrencies only through the prism of the most famous one at the moment. Usability, decentralization, distribution, trust, scarcity and security are the features of Bitcoin that we will look at in more detail. The usefulness in terms of the function of money boils down to the ability to quickly transfer large amounts of value around the world, and in the case of Bitcoin (BTC), this is done without intermediaries. When it comes to BTC, the larger the amount we send, the more favorable the transaction costs will be for us. Bitcoin, of course, is not the only network that will enable such transactions, but it is still the largest, safest and most popular of the options. The value of Bitcoin lies in decentralization and the power of the network is all about the users, additionally basically anyone can help improve the network. No single node in the network can make decisions on behalf of everyone; transaction validation and protocol updates must include a group consensus. Hence, this factor protects Bitcoin from mismanagement and abuse. In general, however, the most important aspect is the lack of a single issuer who would have control over the entire network, as is the case with fiat currencies. Bitcoins size and distribution Features of Bitcoin that give it value is the distribution and size of the network, the more users, the greater the value and the greater the stability. Through distributing the transaction ledger among different users, there is no need to rely on a single source, and the security of a distributed database compared to a centralized one is indisputable. Bitcoins rarity Finally, we come to the next important point, which is rarity and precisely limited supply, there will only be 21,000,000 BTC tokens in Bitcoin and the last BTC will be mined in the year 2140. After the last coin is mined, this cryptocurrency will become even more deflationary. It is also worth referring to Bitcoins security, if you follow the best practices, your funds are extremely safe. Malicious attacks on the Bitcoin network require more than 51% of the current mining capacity, which is almost impossible and the probability of a successful attack on Bitcoin is extremely low, and even if it does happen, it will not last long. The only real threats are fraud and phishing attacks, loss of private key or keeping your funds in the wrong wallets. All these factors mean that we can confidently approach Bitcoin as a type of currency, the rest of the current currencies are primarily digital records, and the world will continue to move in this direction. Often, the argument against Bitcoin is the energy consumption that the network consumes. The truth is, however, that this data does not say anything at all, because we do not know and there is no official data on how much energy the current monetary system consumes, in addition we will have to wait for the resolution of this dispute, of course for official data. Of course, the features that affect the value of Bitcoin does not explain such rapid increases in the price of this cryptocurrency. The rest is similar with other assets, and in the case of the price of a given asset, what matters most is the forces of supply and demand. Bitcoin is a solid alternative to the monetary world we know. And we should not forget this.
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

The question is - who and to what degree will be affected by the FTX crash

Craig Erlam Craig Erlam 18.11.2022 15:03
Equity markets are back in the green on Friday after a choppy week in which the recovery rally has stalled. Efforts by Fed policymakers to manage market expectations have cooled the sense of immense relief that has delivered a strong rebound over the last month. The S&P was up more than 15% at one point while the Dow jumped more than 18%. Not bad on the back of what was ultimately one good inflation month. Read next:  James Bullard unleashed a flurry of hawkish views on Thursday which didn’t get a warm reception in the markets initially. But then they did rebound and are higher again today so it seems investors are still taking them with a pinch of salt. The Fed is clearly concerned that “dovish pivot” speculation could be undermining its tightening efforts which could explain why it’s being so steadfast in its hawkish message. There will also be a concern that the labour market and household spending are showing little sign of weakening despite interest rates rising at an extraordinary rate over the past year. I don’t think that will stop the central bank from slowing the pace next month, especially if we see another drop in inflation just before, but it could cause the Fed to persevere for longer which is a concern for investors. UK retail sales blip no reflection of what lies ahead No one in the UK will be fooled by the latest retail sales report into thinking all is not as bad as it seems, not after yesterday’s Autumn Statement. The OBR expects living standards to decline by 7.1% over the next two years, the sharpest drop in six decades, as the country battles a cost-of-living crisis, severe fiscal consolidation, higher interest rates, and a recession. Against that backdrop, it’s hard to get remotely excited by an expectation-beating 0.6% jump in sales in October. Needless to say, it is not the start of a promising trend. BoJ still unlikely to change course Japanese inflation data may on the face of it give the impression that the Bank of Japan has achieved its inflation goals and can afford to soften its grip on the bond market but the reality is quite different. What is believed to be unsustainable factors like a weak yen, and high imported energy and food prices, are behind the increases, which the BoJ has been very willing to look through and will likely continue to do so. Especially with the pressure of yen devaluation far less intense after the US dollar’s correction over the last month. Crypto volatility subsides for now Bitcoin volatility is subsiding which will no doubt come as a relief to the crypto industry as the fallout from the FTX collapse continues. We’re continuing to learn who exactly is exposed to the collapse, to what extent, and what the ripple effects will be. One obvious impact is that of confidence in the space which could take time to repair in already challenging markets. I’m not sure anyone can be confident that the worst of the rout is behind us which means bitcoin is vulnerable to another plunge, with $15,500 being the first test of support and then potentially $14,000 below that. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Uncertain times - MarketPulseMarketPulse
Bitcoin Maintains A Steady Bullish Potential

How high are cryptocurrency outflows? Fear and Greed Index reaches 23

Alex Kuptsikevich Alex Kuptsikevich 18.11.2022 13:16
Market picture Bitcoin made another attempt to break above $17.0K on Friday morning but has so far been unable to overcome this strong resistance level, moving around $16.7K. The entire crypto market rose by $4bn to $834bn – a minor swing tempered by the moderately negative Nasdaq Index and a stronger dollar over the day. The cryptocurrency fear and greed index rose 3 points to 23 by Friday and remains in a state of "extreme fear". Lower market volatility drives the index up even if prices are not rising. At the same time, retail investors should be active. Under the smooth surface of a calm market, capital will likely continue to flow out, if not out of crypto-assets altogether, then out of crypto-related companies, drying up their liquidity. And one should be prepared for someone else to go broke shortly. Stablecoins lost a lot Investors continue to withdraw bitcoins from cryptocurrency exchanges. According to CoinGlass, cryptocurrency outflows have exceeded 220,000 BTC in the last ten days. JPMorgan is drawing attention to the declining capitalisation of Stablecoins, indicating that investors are leaving the crypto infrastructure. Over the past few months, the stablecoin market has lost an estimated $41 billion. Read next: Everybody wants to know... why does Bitcoin have value | FXMAG.COM El Salvador's President Nayib Bukele has decided to support bitcoin. El Salvador will buy one BTC every day from November 18. Tron founder Justin Sun joined Bukele’s initiative and will use the purchased BTC to back his stablecoin USDD. The US Congress has taken an interest in Binance's role in the FTX collapse. The impact of Binance CEO Changpeng Zhao's public statements on the FTX situation will be the focus of a hearing as early as December.
"When Crypto Meets Football" - a report by KuCoin

"When Crypto Meets Football" - a report by KuCoin

Kucoin Blog Kucoin Blog 18.11.2022 16:21
Victoria, Seychelles — Cryptocurrency exchange KuCoin has published the "When Crypto Meets Football" report that reveals how crypto investors engage with their favourite sports, specifically football, in the world of Web3. This report is based on surveys among 20,180 crypto investors between January and September of 2022, and 8,022 users in KuCoin communities in November of 2022. ​   The FIFA World Cup is around the corner and it is one of the most significant sports events in the world, uniting football fans globally. This year, the event is headed to the Middle East for the first time in history. However, the 2022 FIFA World Cup will also be a first for several other reasons, especially the way crypto features in it.   The key highlights from the survey reveal that football is the most popular sport among crypto investors:   -4 out of every 10 crypto investors in France, Spain, Vietnam, Germany, and Brazil identify themselves as football fans. ​ -"Teamwork," and "passion" are the top values shared among crypto and football enthusiasts. ​ -70% of crypto investors are watching the 2022 FIFA World Cup. -48% of football fans among these crypto investors are interested in trading fan tokens for sports teams during the upcoming FIFA World Cup. -35% of football fans among crypto investors have traded NFT in the past 6 months, and 42% of them are interested in investing in sports NFT.   The Intersection of Crypto and Football Since the last major bull run in the crypto market, we have seen the sports industry adopt cryptocurrencies and blockchain-based solutions with open arms. The love for crypto in sports remains strong even when the global market goes through periods of bearishness. According to the survey, football is the most popular sport among crypto investors. 24 percent of crypto investors say that football is their favourite sport. "Community" (41%), "Teamwork" (33%), and "Passion" (30%) are considered the top values shared among crypto and football, followed by "Strategic" (27%), and "Accessibility to All" (23%).   Where The Crypto Football Fans Are Football is the most universal sport, attracting the interest of fans around the world. According to FIFA, there are 5 billion football fans around the world, with Latin America, the Middle East, and Africa representing the largest fan bases.   KuCoin analyzed it from another angle — the intersection of crypto and the football fan base. Europe, Latin America, the Middle East, Africa, and Southeast Asia are regions where passions for crypto and football cross paths. France, Spain, Vietnam, Germany, and Brazil feature the largest share of football fans among crypto investors. 4 out of every 10 crypto investors in these countries identify themselves as football fans.     Where The Crypto Football Fans Are Football is the most universal sport, attracting the interest of fans around the world. According to FIFA, there are 5 billion football fans around the world, with Latin America, the Middle East, and Africa representing the largest fan bases.   KuCoin analyzed it from another angle — the intersection of crypto and the football fan base. Europe, Latin America, the Middle East, Africa, and Southeast Asia are regions where passions for crypto and football cross paths. France, Spain, Vietnam, Germany, and Brazil feature the largest share of football fans among crypto investors. 4 out of every 10 crypto investors in these countries identify themselves as football fans.     Football Fans Engagement in Web3 With football being the most popular sport among crypto investors, it is no surprise that the FIFA World Cup and UEFA Champions League are at the top of the list of sports events to watch. According to the KuCoin survey, 70% of crypto investors are planning to watch the 2022 FIFA World Cup, making it the sporting event most looked forward to among crypto communities.     Fandom and community based on shared visions and passions are the core elements holding both worlds of crypto and football together, and the upcoming FIFA World Cup will be a wild celebration of them. 48% of football fans among crypto investors are interested in trading fan tokens during the upcoming 2022 FIFA World Cup. The ownership of fan tokens could serve several purposes: establishing membership in the community, empowering them with voting rights on topics related to the team or club they support, enjoying VIP access to exclusive merchandise and rewards, and more. The event is also expected to drive popularity for other sports tokens. 28% of football fans among crypto investors are interested in investing in general sports tokens or projects, including some of the most popular, trending ones, such as Sweatcoin, Chiliz, Stepn, Alpine, and Flow, which are available on KuCoin.     In addition to fan tokens, sports NFTs are another way for football fans to engage with their favourite teams, players, and events in the world of Web3. The survey revealed that football fans are more engaged in trading sports-related NFTs compared to average crypto investors. 35% of football fans among crypto investors claim to have traded NFTs over the past 6 months, while only 13% of average crypto investors have done so.   42% of football fans among crypto investors are interested in investing in sports NFTs. Sports NFTs are most popular in France, Turkey, Brazil, Spain, and the United States. More than a third of crypto investors in these countries are interested in investing in sports NFTs.       KuCoin World Cup in Web3.0 Event   To celebrate the 2022 World Cup and bridge Web2 and Web3, KuCoin is partnering with high-impact Web3 companies, such as Polygon - the leading Layer 2 platform for Ethereum scaling and infrastructure development, WinGoal - a burn-to-earn and win-to-earn-more F2P World Cup DApp, and YGGSEA - the first subDAO of Yield Guild Games, to launch "Shoot to Win Goal," a 4-day event that aims to highlight the intersection of crypto and football while rewarding cryptocurrency users within the global ecosystem with a $1 million prize pool.   During the event, football enthusiasts and crypto users, including Web2 and Web3 participants, can mint their first NFTs, earn BTC and other tokens for free, win swag and merchandise rewards, such as jerseys, soccer shoes or cleats, iPhones, NFTs, such as Cryptopunk, Mutant Ape Yacht Club, and Doodles, as well as tickets to the World Cup in Qatar.   The campaign will run in three game rounds from 17th – 20th November of 2022. Users can choose any game they want. Join the event here!   >>> Read the full "When Crypto Meets Football" report here   About KuCoin: Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides Spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 27 million users in 207 countries and regions.   In 2022, KuCoin raised over $150 million in investments through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021 Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, Ascent named KuCoin the Best Crypto App for enthusiasts.   To find out more, visit https://www.kucoin.com.
Today's market closing will be crucial for MATIC

Today's market closing will be crucial for MATIC

FXStreet News FXStreet News 18.11.2022 14:48
Polygon prices fade slightly in European trading but still hold onto +1% daily gain. MATIC flirts with the opening price from Monday morning. It will be important to see where MATIC can close at the US closing bell before going into the weekend. Polygon (MATIC) price is on the cusp of catching up for at least some of the incurred losses for November as price action is bouncing off an interesting support level. With markets being reminded again of the tail risks still hanging over price action, MATIC could receive some underpinning from bulls. Expect to see MATIC trying to squeeze out a small gain for the week on Friday, with an important close setting up the weekend that could hold more gains. MATIC is at a key level that could bring 7% gain over the weekend Polygon price is currently flirting with the opening price from Monday morning during the ASIA PAC session at $0.888. It would be good for morale and confidence if MATIC can close above that marker and possibly above the green ascending trend line and the 55-day Simple Moving Average (SMA) that all meet around that same level. This makes the $0.888 level a crossroads that could see some more follow-through into the weekend, should bulls be able to keep supporting the price action and accomplish the mission to get that Friday close above $0.888. If this vision is carried to fruition, MATIC price would set forth a good weekend as traders would get a hall pass to rally higher toward $0.96. Although that means only a slim 7% profit, it would make sense as the Relative Strength Index (RSI) would not overheat too quickly and could be the first signal that more gains are at hand. With the holiday week in the US next week, a Thanksgiving rally could be underway with $1.18 on the horizon. MATIC/USD daily chart It is a good reminder yet again that the current tail risks are still alive and present and could flair up at any moment. Although markets were on edge on the back of that missile attack in Poland, the situation de-escalated in just 12 hours. However, it comes with an advisory that traders need to keep in mind that the war in Ukraine is far from over. The comments from both Ukraine and Russia on Thursday show that they are still miles apart from one another, and any next escalation could easily push MATIC back to $0.862 or $0.777 on the downside.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Cryptocurrency Market From Scratch - Blockchain

Kamila Szypuła Kamila Szypuła 19.11.2022 15:40
Investments in cryptocurrencies are gaining more and more popularity, but at the same time, more and more people are quickly alienated from them after suffering losses. A lot of these losses are due to poor knowledge of the market and too little knowledge about the cryptocurrencies themselves. It is worth getting to know the instrument in which you invest your hard-earned money, which is why we present a glossary of the most important terms related to cryptocurrencies. Blockchain - what is it? Blockchain, is a technology that is used to transmit and store information about online transactions, i.e. it is something like a digital ledger of transactions. This information is arranged in the form of successive blocks of data. One block contains information about a certain number of transactions, then after its saturation another block of data is created, and so on. Most blockchain networks are designed as a distributed and decentralized digital ledger. Simply put, a blockchain is a digital ledger that is basically an electronic version of a paper ledger and is responsible for recording the list of transactions that take place within the network. The first application of this technology was the launch of the bitcoin cryptocurrency twelve years ago, the value of which is based on computing power. Moreover, the terms blockchain and bitcoin have long been (incorrectly) used interchangeably. When entering the world of cryptocurrencies and blockchain technology, it is important to understand the differences between these terms. Bitcoin is the first cryptocurrency ever created, and by the way, it is also the most famous and media cryptocurrency. Available to everyone Blockchain allows anyone to “own” the entire database of the system, thereby creating a distributed and decentralized ledger. Thanks to this solution, it is impossible to modify data, remove or add false information. A good example is Wikipedia, which is known to everyone. We all have easy access to it, and every slightest trace of modification remains saved - with the difference that the "administrators" of the blockchain system are all its users at the same time. So you know exactly when, who and how the content on each subpage was modified. The whole strength of the system lies in the trust in the technology that is its engine. Moreover, it is not a secret algorithm stored somewhere in highly guarded server rooms in the USA, but in a completely open source code that can be analyzed and checked by absolutely anyone with an average knowledge of software development. The using Any type of transaction can be stored in blockchain technology. Currently, blockchain technology is used to handle various commercial and financial transactions, but they also support e.g. trade or the electricity market. In the last one, blockchain is used to settle energy purchase and sale transactions between its small producers, e.g. households, and their customers, energy recipients, as well as dispersed e.g. electric cars. These transactions can take place outside the system that has been functioning for centuries - without the participation of public trust institutions, directly between the parties to the transaction. Future of Blockchain Blockchain technology can play a huge role in the economy and contribute to the development of the economy. The financial industry was the first to recognize the potential of blockchain. In 2015, the R3 consortium was founded by banks and FinTech companies, whose goal is to develop blockchain technology. Stopping only on the financial application of blockchain technology, we can talk about an extraordinary solution that strongly revolutionizes the existing order established in the economy. The growing importance of the blockchain may lead to a redefinition of the concept of trust, which until now was based on the authority of the institution, and will now be based on the strength of the cryptographic algorithm used in the system. It is difficult to say unequivocally whether such optimistic moods related to the development of blockchain technology will turn out to be correct. Strengths and weaknesses Like everything, blockchain has its strengths and weaknesses. The advantages can include: Because data in the blockchain network is most often stored on thousands of devices as part of the so-called distributed network of nodes, the system and the data itself are highly resistant to technical failures and attacks. Once data is recorded on the blockchain, it is very difficult to remove it from it or change its values. It is thanks to this feature that blockchain is identified as a great technology for storing financial records or other data where transparency is required. Blockchain eliminates the need for so-called intermediary, because transaction verification is handled by a distributed network of nodes in a process called mining However, the decentralized nature of blockchain technology also brings some disadvantages. For example, compared to traditional centralized databases, blockchain networks have limited performance and require significantly more memory resources to function properly. Another disadvantage of blockchain systems is that once data is added to the blockchain, it is very difficult to modify it. While data durability is one of the benefits of blockchain, it doesn't always turn out to be a good thing. Despite the disadvantages, blockchain technology has some unique advantages and will definitely stay with us for longer. There is still a long way to go before both us and the entire blockchain community to finally adopt the technology to the so-called main stream. What is important, however, in an increasing number of industries, there is a noticeable increase in interest in technology and dealing with its advantages and disadvantages. The coming years will probably result in a large number of experiments on the part of both companies and governments. Source: Omid Malekan „The Story of the Blockchain: A Beginner's Guide to the Technology That Nobody Understands”, Daniel Drescher „Blockchain Basics: A Non-Technical Introduction in 25 Steps”
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Cryptocurrencies After Bitcoin - Altcoins And Meme Coins

Kamila Szypuła Kamila Szypuła 19.11.2022 16:33
Cryptocurrencies are certainly an area that has become increasingly popular in recent years. However, it requires some familiarity with new terms and understanding how the modern investment market in this industry works. Altcoin Definition At the very beginning, only Bitcoin was known as the first cryptocurrency in the world that was based on blockchain technology. But the question arises, what is an altcoin? It is primarily a term for an alternative coin, built from the combination of the English words alternative and coin. An altcoin is any new currency that was created after Bitcoin, even if it uses the same software. Altcoin vs Bitcoin Altcoins are referred to as cryptocurrencies or tokens - regardless of the name, they share similar keys used to transfer currency between owners' virtual wallets. Many types of altcoins are built on a similar system as Bitcoin, but each has distinctive features - some focus on improving features that Bitcoin was less than perfect. Altcoin is a lower value currency, which makes it perfect for smaller transactions. There is also a difference between Bitcoin and altcoin in terms of the number of cryptocurrency units in circulation or determining the maximum number of coins. More and more cryptocurrencies are becoming serious competition for Bitcoin, and Altcoins worth attention are primarily those that use ready-made platforms or create their own with a specific specificity. Thanks to this, several of the largest Altcoins stand out on the market, such as: Ether, Ripple and Litecoin. Memecoins What is it? Meme coins are cryptocurrencies inspired by memes or jokes on the Internet and social media. Meme coins are usually very volatile. They are mostly community driven and can go viral overnight with online community endorsements and FOMO. Still, their price may also drop unexpectedly as investors turn their attention to the next meme coin. Another feature of meme coins is that they often have a huge or unlimited supply. Since meme tokens generally do not have a coin-burning mechanism, the huge supply explains their relatively low prices. For just $1, you can buy millions of meme tokens. The first The first meme coin created was Dogecoin (DOGE). Released in 2013 as a parody, DOGE was inspired by the popular Doge meme, which is a Japanese Shiba Inu dog with a rather funny expression. Other meme coins Shiba Inus (SHIB) is DOGE's rival and is often referred to as the "Dogecoin Killer". The main difference between DOGE and SHIB is that the latter has a limited supply of 1 quadrillion tokens. Dogelon Mars (ELON) closely follows the dog duo in terms of popularity. As the name suggests, ELON is named after Tesla CEO Elon Musk and his passion for SpaceX. ELON is a fork of Dogecoin and has a supply of 557 trillion tokens in circulation. The risk As with all cryptocurrencies, trading and investing in meme coins involves high financial risk. Compared to BTC, most meme coins tend to be inflationary with no maximum supply. Their ecosystem, uses, and foundations are often defined by collective community jokes. Only a few meme coins have been built on big cryptocurrency technology. Another potential risk is that meme coins are heavily community-driven and more speculative than larger market cap cryptocurrencies. This instability constantly leads to unexpected ups and downs. The life cycle of meme coins is generally short-lived. FOMO Discussing meme coins, FOMO appeared as a factor affecting the situation of cryptocurrencies, but what is it? FOMO is short for "Fear of Missing Out", so it's also a psychological term. In practice, the FOMO phenomenon can be illustrated with a simple example in which you learn about a new coin with huge potential. Everyone is talking about it, and the media is starting to present it as the new Bitcoin. Everything indicates that its price will increase rapidly and rapidly, so in fear of missing out, you decide to buy it without much thought. This is FOMO, i.e. taking action not based on analysis and reason, but emotions related to the fear of missing the "opportunity". FOMO also can be a marketing strategy to use by creating investor fear of losing out as a way to encourage investors to act. Source: investing.com,
Non-Fungible Token (NFT) Is The Future Of Art?

Non-Fungible Token (NFT) Is The Future Of Art?

Kamila Szypuła Kamila Szypuła 20.11.2022 16:10
More and more often we hear about shockingly high sums for which someone has bid on the Internet for the right to a famous person's body part or artwork, or even a digital love. To peasant minds, paying huge amounts of money for something intangible and incomprehensible seems, to put it mildly, strange. NTF is shocking and gaining popularity. NFT market NFT exchanges are where art collectors, investors and cryptocurrency players connect. In recent years, non-exchangeable tokens have been dynamically increasing in value. So the group of people who want to earn on them is growing. What is non-fungible token? What is NFT? The abbreviation stands for non-fungible token, i.e. a non-fungible token. This tells us that we are dealing here with a unique, collector's asset, one of a kind. No wonder that it aroused the interest of investors who are ready to spend millions of dollars on NFT. NFT, as a digital asset that represents art, music, film, game items, virtual avatars and video game skins, even tweets, has been around since around 2014, however, it is currently experiencing a renaissance as it becomes more and more popular a way to buy and sell digital art. NFT can take many forms. It can be a JPG photo, gif, video, text file. It must have a digital record, which is a declaration, a certificate that a given file exists only in one copy. That the investor who decides to buy it will be its sole owner. Each token has a unique value, is not equal to another NFT token and cannot be copied. So they began to be used as proof of authenticity. Essentially, NFTs are like physical collectibles, only digital. NFT vs Crypto Tokens are sold and bought there most often in cryptocurrency. Behind NFT is blockchain technology, one of the biggest revolutions in the world of new technologies. The entire cryptocurrency market also operates on the basis of blockchain. However, this is where the similarities between NFT and cryptocurrencies end. One Bitcoin is always equal to another Bitcoin. NFTs are different. Each of them can have a different value. Each also has a unique digital signature that prevents NFTs from being exchanged or exchanged with each other. Hence the name "uninterchangeable". However, they can be sold on the secondary market. The opportunity for artists NFT is an opportunity mainly for artists. Platforms like OpenSea have become auction houses for them. Although they do not yet reach amounts close to the most expensive works of art sold, their digital paintings reach dizzying sums similar to those at real art auctions. Anyway, NFT has already entered the auction houses. According to Forbes, in 2021 alone, the NFT market was worth $41 billion. New NFTs entering the market can go up in value in a very short time, giving huge returns to investors. Prices keep going up. Constant demand will shape the price. However, with market dynamics comes investment risk. The future It is difficult to say unequivocally what use of NFT technology will be adopted in the long term. Its history is too short to evaluate it rationally. We can only speculate that it will contribute to the interest in the art market, it is worth emphasizing that the digital one is not accurate. Therefore, artists who create in a digital way can gain not only popularity but also in the form of finance. The risk Tokens are also highly susceptible to fashion, which can change from day to day. Other risks associated with the NFT market are fraud and theft risks. As NFT is a virtual asset, it often becomes a target for hackers, impersonators who exchanged and sold their works without the consent of the authors or dishonest operators of cryptocurrency exchanges. NFT And CO2 emissions NFT is experiencing its rebirth, it does not mean that participation in this market is right or moral. It is also worth mentioning the controversy and the dark side of the exchanges of non-tradable NFT tokens, which is very harmful to the environment. It is mainly about the appalling consumption of electricity, and thus - a large carbon footprint. Growing demand and transactions only lead to more CO2 emissions. Modern, capitalist techniques of generating wealth, such as Bitcoin or NFT, further deepen the problem of global warming, rising temperatures, extinction of species, etc. Statements about the harmfulness of blockchain technology are therefore gaining strength. For now, however, this does not affect the decline in the popularity of NFT, although its future is difficult to assess. NFT and copyright Buying NFT may mean buying the copyright to the song, but it doesn't have to be. Owning an NFT does not necessarily mean owning the rights to the original work. This can run the risk of being misled if the buyer buys NFT thinking they are acquiring the copyright to the original work, which legally is not the case because the seller did not specify it. Keep in mind that some NFT vendors sell them along with the copyright, while others only sell a digital certificate of ownership for a specific version of the work. Source: investopedia.com
The EU Will Move Forward With The Implementation Of The Digital Euro

CBDC As Evolution Of Settlement Forms | DeFi - financial services of Ethereum

Kamila Szypuła Kamila Szypuła 20.11.2022 19:54
Centuries ago, money was associated with various values, mainly precious and semi-precious metals. In modern times, they can be in the form of coins or banknotes, but also accounting entries in accounts. But what is digital money? It does not necessarily have to be identified with cryptocurrencies. Moreover, the market of digital coins is constantly developing and thus financial services that are based on blockchain technology. It is worth getting acquainted with the famous one - DeFi. DeFi - Decentralized finance What is it? DeFi is a term for financial services that are based on blockchain technology (primarily Ethereum). They allow you to perform traditional transactions: purchase, sale, you can also trade assets or take out loans. In other words, they offer practically everything that traditional banks offer. The difference is that DeFi is decentralized – it is peer-to-peer. Transactions take place directly between two people, so there is no need for an intermediary such as a bank. Strengths Decentralized finance has undoubted advantages that traditional financial institutions cannot boast of. When using DeFi, you don't have to enter your full details: name, surname, home address, and the transaction is almost instantaneous. Speed and privacy protection can be considered as the main advantages. To use DeFi, you don't have to submit any applications or fill out documents to, for example, open an account. However, the exclusion of intermediaries means that costs such as commissions disappear. Disadvantages Decentralized finance has the potential to revolutionize the financial market, but that doesn't mean that it doesn't have flaws. Among the most important ones, it is worth mentioning that blockchain technology is complicated and still available only to a small group of people. Many DeFi applications also have bugs and need optimization, which is due to, among others, from the early stages of product development. What's more, there is no 100% guarantee against hacking. CBDC What is it? Giving up the physical form of money in circulation and introducing only digital money is a postulate put forward by economists around the world. It is related to the concept of CBDC. an abbreviation of the English phrase "Central bank digital currency". It is a monetary policy tool already used by central banks around the world. It is used to carry out transactions between commercial banks. The accounts of such entities, which are kept by central banks, have been using the aforementioned digital currency for years. CBDC and cash are not the same CBDC should be treated as a modern, completely different form of central bank money, different from cash and money available to selected entities on accounts maintained at the central bank. CBDC differs a lot from money in the form of cash. Among others: digital form, possibility of programming - thanks to the use of automatic transaction execution after meeting the set conditions, easy to use for payments, anonymity, universal availability. There is no one, always-proven, universal model of CBDC emission. Everything depends on the conditions and socio-economic goals Consequences of the introduction of CBDC There is no doubt that serious consequences of the introduction of CBDC await us. Digital currency may become the basic and only means of payment. Its implementation will have a specific impact on the functioning of: banking system, countries in terms of financial stability, the country's monetary policy, payment system. Economically, central bank digital money carries many potential risks. The introduction of CBDC will have numerous consequences from the point of view of the society and the banking sector, which will concern the sources of financing of the undertaken projects. The importance of deposits may be marginalized, which will result in an increase in the importance of issuing securities of a certain type. Another consequence of the introduction of CBDC may be a reduction in the importance of banks as intermediaries in payment systems. As a result, their financial results may decrease. If the central bank's digital money is introduced, the natural consequence will be a change in the current banking business model. The social consequences should also be emphasized. It should be remembered that changes must also take place in financial education from the earliest age. And speaking of age, also in developing economies or developed societies, the society is getting older, and thus there is no willingness of older people to change or difficulties in educating new technologies. There are other social consequences that central banks have to consider before introducing CBDC into circulation.
Genesis Block Actually Started Liquidating Its Crypto Business

Genesis Block Actually Started Liquidating Its Crypto Business

InstaForex Analysis InstaForex Analysis 21.11.2022 09:03
Crypto Industry News: If not for the scandal and the collapse of FTX, things could have turned out favorably for the cryptographic companies from the Genesis group. But after the collapse of FTX, as investors face a shapeless void and darkness engulf the markets, they saw that things were bad, very bad. Genesis Block, Hong Kong's leading retail crypto operator, told customers on Friday morning that it plans to shut down its over-the-counter trading portal on December 10. The company also asked customers in emails to withdraw their funds and said no new customers would be accepted. Earlier this week, the CEO of Genesis Block told Reuters that they are no longer active in the crypto markets. "We stopped trading," said Wincent Hung, "We don't know which counterparties will fail next, so we'd prefer to close all our positions to regain some of our liquidity." According to the report, Genesis Block actually started liquidating its crypto business in Hong Kong before FTX filed for bankruptcy. One Genesis Block official was a director at FTX Hong Kong, but resigned from his position earlier in November, and Genesis Block cut all ties to the failed exchange shortly thereafter. Genesis Block once ran one of the largest Bitcoin ATM networks in Asia. ATMs are now operated by CoinHero after Genesis Block sold its ATM business in 2021. Technical Market Outlook: The Bitcoin bulls retraced 38% of the whole sell-off and hit the level of $18,135 before the pull-back towards the sell-off lows was made again. The market conditions on the H4 time frame chart are still oversold as the bears are clearly in control of this market. They managed to break below the intraday trend line support and are moving lower again. The target is seen at the sell-off low located at $15,550. The nearest technical resistance zone is seen at $17,600, $18,150 and $18,220. There is no indication of the down trend to terminate or reverse just yet as the market keeps trading in a relatively narrow range. The market participants await for the breakout. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301793
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

Officials May Want To Create Strict Regulations For The Cryptocurrency

InstaForex Analysis InstaForex Analysis 21.11.2022 09:06
Crypto Industry News: Former US presidential candidate Andrew Yang warns that the collapse of FTX will make officials want to create strict regulations for the cryptocurrency exchange market. In his opinion, this is not conducive to making the US a blockchain center. Speaking at the Texas Blockchain Summit in Austin on November 18, Yang acknowledged that the bankruptcy of FTX and Alameda Research will likely make it harder to pass common-sense regulations for the cryptocurrency market. "I've always been in the camp [that] some sensible regulation was a good thing. I think it would help the industry mature and become more mainstream," he said. "Because of [FTX's [collapse] and other issues, headlines and people who have suffered [as a result of FTX's bankruptcy], there will be an appetite for regulation that I think may miss the mark," he added. Yang admitted that the path to clarity on digital asset regulations is more difficult due to the politicization of the US two-party system. Therefore, the collapse of FTX will only embolden the biggest opponents of cryptocurrencies to try to destroy this industry. The politician admitted that he is working with the Bipartisan Policy Center, a think tank based in Washington, to educate congressmen on blockchain technology. Technical Market Outlook: The Ethereum market has broken out from the narrow range located between the levels of $1,219 - $1,281 and is only $36 from the sell-off lows. The intraday technical support is seen at $1,073 as well, no other support was made. The intraday technical resistance is located at $1,191 and $1,1219. The market has hit the extremely oversold conditions on the H4 time frame chart again, however, the bulls are still in control of the market and keep making pressure to test the sell-off low at $1.073. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/301795
ECB's Tenth Consecutive Rate Hike: The Final Move in the Current Cycle

The Fed Needs A Significant Change In Inflation To Change Its Monetary Policy

Craig Erlam Craig Erlam 21.11.2022 11:45
The week is off to a relatively slow start, with Asia trading mostly in the red and Europe and the US poised to do the same. We don’t get many quiet weeks these days but this may turn out to be one of the few, with the US Thanksgiving bank holiday cutting the week short for many traders and the Fed minutes on Wednesday potentially weighing on activity beforehand. The recovery rally has stalled over the last week or so as Fed commentary has remained more hawkish than investors wanted. The rebound was also much stronger than is arguably warranted, with the Dow up almost 20% from its October lows. Policymakers appear keen to stress that one inflation number doesn’t make a trend and further evidence will be needed to justify a slower pace of tightening. While they will probably be quietly satisfied that inflation has turned a corner, there may also be a determination not to accept that publicly at the risk of undermining its tightening efforts until now. Another good report next month and the tone will almost certainly notably change. China stocks tumble as Covid cases rise The recent news has been less good from China, where surging Covid cases have wobbled markets just as we were seeing an improvement in sentiment. A slight relaxation of Covid restrictions and the prospect of more early next year, alongside a 16-point plan to boost the property market, had triggered a strong rebound in stocks in China and Hong Kong but that has been undermined by the recent surge and restrictions. Not only would fresh lockdowns in major cities take a sledgehammer to growth into year-end, but it could also complicate any plans that are being put in place to soften the zero-Covid policy next year. We’re back into uncertain territory which could slow the recovery in stock markets. Darker days ahead for crypto? The landscape is not getting any better for cryptos as we continue to learn more about the fallout from the FTX collapse. Bitcoin is off around 4% this morning, trading below $16,000 and looking very vulnerable. Another sharp drop looks very possible as sentiment in the space has been shredded. It could take some time for that to be repaired and the uncertainty that the FTX scandal has created is an enormous headwind for cryptos in the near term. At this point, I wouldn’t be surprised to see $10,000 tested again in the not-too-distant future. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Investments In Specific Football Clubs Do Not Appear To Be Profitable

World Cup Begins! |The Euro (EUR) Decline | Equity Rally Wanes

Swissquote Bank Swissquote Bank 21.11.2022 10:54
Stocks in Asia fell this Monday on news that China reported its first death in six months from Covid on Sunday, and two other deaths followed. The news spurred fear that the government could make a U-turn on its decision of easing the strict Covid zero rules, and wreak havoc in Chinese markets, yet again. US Elsewhere, the US-inflation-data boosted rally faded last week, on the back of a too-strong-to-be-happy retail sales print, and a couple of hawkish comments from Federal Reserve (Fed) Presidents, including a chart from Mr. Bullard where the Fed’s terminal rate stretched up to 7%!This week, investors will focus on interest rate hikes and the US Black Friday sales. Commodities In commodities, the barrel of US crude slipped below the $80 psychological level last week, below the post-pandemic ascending trend base. Forex In the FX, the US dollar kicks off the week on a positive footage, on the back of a retreat in dovish Fed expectations. Crypto In cryptocurrencies, contagion news from the FTX collapse continues making the headlines in cryptocurrencies. According to the latest news, FTX owes more than $3 billion to its unsecured creditors, and crypto.com, Binance and OKX suspended deposits of dollar-backed stablecoins, USDC and Tether before last weekend. World Cup In sports, the world’s most expensive World Cup kicked off this weekend in the middle of the Qatari desert, with a lot of unusual news, speculation and backlash about the CO2 emissions and limited sales of alcohol, among other criticism. Investors hope sports betting and beverage companies would see a boost from the event… Watch the full episode to find out more! 0:00 Intro 0:40 China Covid worries resurface 1:57 Equity rally wanes, as attention shifts to rate talks & Black Friday 4:19 Oil dips below $80pb 5:27 USD gains, as XAU, EUR decline 6:52 FTX contagion continues, Solana further pressured 8:20 World Cup begins! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #China #Covid #World #Cup #hawkish #Fed #USD #EUR #XAU #crude #oil #US #retail #sales #Thanksgiving #BlackFriday #FTX #contagion #Bitcoin #Solana #Tether #USDC #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Ethereum Climate Platform (ECP) launched, Reserve Bank of India making steps forward in currency digitalization

Crypto.com Accelerate the... Crypto.com Accelerate the... 21.11.2022 13:09
Grayscale Bitcoin Trust trading at new record discount. U.S. Fed FOMC minutes coming up this week. Weekly Market Index Last week’s crypto market prices were down slightly at -1.6%, while volume and volatility dropped significantly by -57.4%, and -73.9%, respectively.     News Highlights Shares of the Grayscale Bitcoin Trust (GBTC), the world’s largest publicly traded crypto fund, are trading at a new record discount of 43% relative to the price of the underlying Bitcoin (BTC), according to Coindesk. The Reserve Bank of India (RBI), the country’s central bank, is finalising the rollout of the retail digital rupee. Ethereum (ETH) software developer ConsenSys co-launched the Ethereum Climate Platform (ECP) at the 27th United Nations climate change conference (COP27). The platform will fund the development of “climate projects that can significantly mitigate greenhouse gas emissions and achieve decarbonization at scale.” Recent Research Reports     Argentina 2022 Survey: Argentines are Increasingly Keen to Adopt Cryptos and NFTs Research Roundup Newsletter [October 2022] Alpha Navigator (Oct 2022) Argentina 2022 Survey: Argentines are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentine citizens to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Here are the findings. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at asset class performance in October. Is the Fed pivoting on rate tightening policy? ETH’s short-term correlations with equities reducing. Catalyst Calendar         Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE Source: crypto.com
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Effects of the FTX crash may stay here longer. Nansen says the collapse was "directly linked to Terra's failure in May"

Alex Kuptsikevich Alex Kuptsikevich 21.11.2022 13:43
Market capitalisation down Bitcoin has lost 4% in the past 24 hours, once again testing the strength of the $16K area. Ethereum is down 7.8% overnight to $1120. Other leading altcoins in the top 10 were down 5.5% (BNB) to 10.6% (Dogecoin). Read next: NVIDIA (NVDA) Q3 earnings results outperformed part of the markets forecasts| FXMAG.COM Total cryptocurrency market capitalisation, according to CoinMarketCap, sank to $795bn, losing 4.9% overnight and 5.6% for the week. The cryptocurrency fear and greed index is down to 21 points by Monday versus 24 just over a week ago. Bitcoin failed to develop a rebound last week, facing an intensified sell-off near $17K and about 23.6% of the move down from 5 to 10 November. Such a weak rebound indicates solid bearish pressure, forcing us to expect another move towards the lower boundary at $15.8K. A consolidation below that level could start a new downside wave with a potential target of $12K. However, this is a very distant target, while round levels of $15K and $14K could be the intermediate ones. KPMG talks meta-universes Bitcoin's mining difficulty continues to increase, rewriting an all-time high. The falling price has resulted in the first cryptocurrency being mined at a loss on average. The falling price and high interest rates make us expect miner activity to drop and a subsequent decrease in difficulty. However, there could likely be a brief struggle for market share amongst miners: with bankruptcies and takeovers. This will be interesting. According to the Nansen report, the collapse of FTX was directly linked to Terra's failure in May. The unrealised loss of the "average" long-term bitcoin investor reached 33%, according to Glassnode's calculations. The impact of the FTX collapse will still be evident for the foreseeable future, according to a statement to investors from venture capital firm Multicoin Capital. Many players will cease to exist, putting pressure on the liquidity of the crypto market. Some major crypto exchanges have suspended accepting deposits and withdrawals in Stablecoins, which are hosted on the Solana blockchain. The decision was made due to Solana's association with the collapsed FTX exchange, which used the blockchain's power. The Australian unit of consultancy firm KPMG has said that meta-universes have the real potential to change many areas of life. In doing so, large companies will contribute to the technology's adoption.
The US Dollar Weakens as Chinese and Japanese Intervention Threats Rise, While US CPI and UK Jobs Data Await: A Preview

Ed Moya talks stocks, China, forex, crypto and more

Ed Moya Ed Moya 21.11.2022 22:54
US stocks are lower as the global growth picture takes a hit following key China Covid lockdowns and as the US economy could have to deal with a massive rail worker strike before the holidays. ​ Adding to the risk aversion tone are rising concerns that future Russian attacks on Ukraine’s nuclear power supply could be catastrophic. Wall Street is hesitant to buy up risk assets on this World Cup-filled and shortened holiday trading week as the first wave of headlines from Beijing to a rail union vote seem likely to further fuel inflationary pressures. ​ Trading activity could take a hit as many traders will enjoy focussing on the first round of games, but for now, it seems the pulse of Wall Street seems rather downbeat. Rail/Shipping The US economy is also in jeopardy of an unwanted supply-chain hit as rail workers appear poised to strike just before the holidays. After a key vote, it is looking less likely that we won’t see some possible work stoppages, which could prove to be terrible for economic activity and prove to be inflationary. If a deal is not reached early next month the hit to the economy could be over $2 billion a day. ​ China Risk appetite vanished after deputy director of Beijing’s municipal Centre for Disease Control and Prevention Xiaofeng said, “The city is facing its most complex and severe prevention and control situation since the outbreak of the coronavirus.” This Covid wave is troubling as it nears some of the more populous districts and that is forcing Beijing to tighten its rules. ​ China also reported three Covid deaths over the weekend, which are the first deaths reported since May. It seems the zero-COVID policy is not going away anytime soon and that will definitely weigh on global growth. ​ FX​The dollar’s rally ran out of steam just as England’s World Cup campaign kicked off with a great start. ​ The forex capital of the world, London, basically shut down for England’s impressive win against Iran. ​ China’s Covid struggles are driving strong safe-haven flows into the dollar. ​ The risks to the global outlook might not be as bad as they were a few months ago, but that doesn’t mean this dollar rebound can’t go on for a little longer. ​ The dollar might be able to remain strong here heading into the holiday weekend. Crypto The FTX aftermath continues and now everyone wants to know who are the unlucky creditors that will suffer big losses. According to court documents, it seems about $3.1 billion collectively is owed to one million creditors. Bankrupt Voyager Digital is also desperately trying to find a buyer and there is a lot of skepticism that Binance will not be able to get beyond all the hurdles that also include national security concerns. Given the downbeat mood on Wall Street it comes as no surprise Bitcoin is lower. ​ Bitcoin continues to stabilize above the $16,000 level despite a plethora of negative headlines. ​ It seems something major needs to break for the sellers to take out the November lows. ​ If the $15,500 level breaks for Bitcoin, there is not much support until the $13,500 level, followed by the psychological $10,000 level. ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stocks lower on China and rail strike concerns, King dollar returns, bitcoin tries to hold onto $16k - MarketPulseMarketPulse
The G20 And IMF Are Already Preparing Their Crypto Regulation

There is no hope that altcoins will follow a different path than BTC

Geco One Geco One 22.11.2022 07:59
Can we call current circumstances a 'crypto crash', and how long could it last? What we are currently experiencing in the digital currency market is a normal reaction in financial markets in situations of extraordinary events. The scale of irregularities in the activities of the FTX exchange and the Almeda Research fund was so large that it had to affect the crypto market as a whole.How long can it take? The market is still waiting for the possible consequences of the collapse of the FTX exchange. There is talk of FTX linking with other players in the market, holding assets on FTX, etc. But the crypto market situation is clearing up. Healthy projects have no problem showing their clients that they run their business honestly and have coverage for the paid digital and traditional funds - hence the action of showing the contents of their wallets. The current situation will last until the end of the year. After the New Year, the market should react more strongly to the current drops reaching 70% per year on BTC and ETH. Indeed, information about the planned regulations, e.g. the European MiCA Directive. The market needs credibility and trust. And this is possible thanks to defining the same rules for all participants. Until now, only individual countries could afford to develop and implement regulations for cryptocurrency companies. One such example is Estonia, where our two projects have been licensed. Thanks to that, we can legally and transparently run an investment fund and a derivatives exchange under the Geco brand. Altcoins amid crypto winter/crypto crash, could we expect bullish sentiment towards altcoins despite the FTX crash? In the current situation, the collapse of FTX and, as a result, a strong sell-off in all digital currency markets, there is no hope that altcoins will follow a different path than BTC. On the contrary - it is BTC that will give a signal about the end of the declines, and only the alts will follow the BTC rate. But beware - only the best, healthiest alts will show significant increases. Projects without functional value, without a positive history, can rebound, but certainly not as much as tokens and coins from projects that provide specific solutions for the community. In the strategy of our fund managed by a licensed manager Geco Capital OU, we excluded investments in crypto assets with low liquidity, poor reputation and high investment risk. We want to avoid exposing our clients' investments to unnecessary risk.
Weekly Crypto Market Analysis by Geco.one – November 21st

Weekly Crypto Market Analysis by Geco.one – November 21st

Geco One Geco One 22.11.2022 08:38
Bitcoin (BTC) After the first half of November this year, Due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between $16,000 and $17,000. However, there are many indications that this is only a form of correction, after which the quotations of the oldest virtual currencies could return downward. One must remember that the BTC exchange rate has been in a downward trend for over a year, and this trend has stayed the same at any time. Therefore, from a purely technical point of view, there is no reason to forecast a more significant rebound. In addition, it is also worth noting that the last fall was highly dynamic, which may indicate that it was an impulsive move. At the same time, the rebound observed for several days is exceptionally calm, which suggests that it is only a form of another correction. Given all this, the bankruptcy of FTX has already been officially announced. As a result, its further negative impact on the cryptocurrency market may be limited; the scale of bankruptcies of subsequent companies associated with this exchange will be of crucial importance. There is already talk that the BlockFi cryptocurrency lending platform is preparing for potential bankruptcy after the collapse of FTX, and there may even be over 150 similar companies. So it is far too early to open the champagne and announce another bull market. In practice, there is still a high probability of further sales of BTC and the vast majority of cryptocurrency projects. According to the popular opinion that "after every storm, the sun comes out", and just like in previous years, when after each of the previous bubble bursts, the cryptocurrency market returned to the path of growth, breaking new ATH, one can expect that this time it will be similar. However, we'll have to wait a little longer for that. Several factors may account for this: First, every topic, including every problem, becomes commonplace, and the financial markets pass over it daily. This was the case with the collapse of Mt.Gox in 2014 (the largest cryptocurrency exchange in the world at that time) or QuadrigaCX in 2019 (the largest cryptocurrency exchange in Canada, about which Netflix even made a documentary). Second, the Federal Reserve is nearing the end of its monetary policy tightening cycle. While Fed interest rates are likely to remain high for most or even all of 2023, in 2024, the Fed is likely to embark on an easing cycle that, like in 2020, could contribute to the growth rally on risky assets such as stocks or cryptocurrencies. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by a highly optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of the previously defeated support. However, this increase lasted only one day, from November 11 this year. The ETH rate is falling again. If this trend continues - and there are many indications that it does - the price of this cryptocurrency could fall to around USD 1,000 in the near future. Only there is another valuable support in the vicinity of which a more significant demand response could appear. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between November 5 and November 9, falling to the lowest level since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on November 10, it went up by over 22%. It is noteworthy that this rally led to a re-test of the previously broken support (now resistance) of $106 and measured a 50% Fibonacci correction from the earlier downward impulse, where the BCH rate has been holding until now. However, considering the supply reactions that have appeared in the area of ​​the currently tested resistance, it seems highly likely that this zone will be rejected soon, which in turn could initiate another downward impulse towards the recent lows or even lower. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35%. This sell-off stopped only in ​​technical support, around USD 50, where apparent demand pressure appeared on November 10. As a result of subsequent increases, the LTC exchange rate returned to the area of ​​previously defeated support (now resistance) around USD 64.50, where supply pressure reappeared last Sunday. If this resistance is rejected, the price of this cryptocurrency could fall back to around USD 50 or even fall to USD 43. Polygon (MATIC) After bouncing off the $1.30 technical resistance, the Polygon (MATIC) cryptocurrency fell more than 41% between November 5 and November 9. Although on November 10, the cryptocurrency made up for it. While the majority of these losses increased by over 52%, today, it is again listed at the levels from November 9. It is noteworthy that the MATIC exchange rate slipped below the local uptrend line last Sunday, which could drive further sell-off towards USD 0.70, USD 0.61 or USD 0.45. XRP XRP fell between November 5 and November 9 by more than 38%. This sell-off led to the breaking of two horizontal support levels at USD 0.4450 and USD 0.3950, respectively, and stopped only at the next significant level, around USD 0.32, where an apparent demand reaction appeared on November 10. Since then, the XRP price has alternately fallen and increased, staying at USD 0.32 to USD 0.3950. Therefore, taking into account its rebound from the upper limit of this range, observed last Sunday, we could expect another drop towards USD 0.32 in the coming days or possibly even to USD 0.30, where the next support level is located. Binance Coin (BNB) Looking at the Binance Coin quotes, we will notice that the price of this cryptocurrency has fallen by almost 36% since November 8. Such a significant depreciation meant that we are currently witnessing an attempt to break the technical support of USD 260. If the BNB rate permanently drops below this level, we could expect it to depreciate towards USD 244 or even USD 214 soon.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Stress In Crypto Market Continue | Global Recession Fears

Swissquote Bank Swissquote Bank 22.11.2022 10:30
Market sentiment is fragile on uncertainty regarding whether China would make a U-turn on its Covid reopening plans. Oil Recession fears were already weighing on fragilized oil on Monday morning, when news that OPEC+ would increase oil production by half a million barrels per day on the upcoming December 4th meeting wreaked havoc yesterday. The barrel of US crude tanked to $75 per barrel, below the September dip. Later, Saudi denied the report and we are back to $80 this morning. Forex In the FX, the US dollar index bounced higher after getting very close to the 38.2% retracement level on 2021-2022 rally, and mixed Fed comments tilt the balance to the upside for the greenback. Cryto In cryptocurrencies, news that Genesis warned investors that it could file for bankruptcy further weighed on sector sentiment. Watch the full episode to find out more! 0:00 Intro 0:22 China Covid worries fuel global recession fears 1:53 Oil dips on China worries, OPEC rumour 3:57 US dollar gains, equities fall 5:14 Should you sell Tesla because you don’t like Elon Musk? 7:39 Disney up as ex-CEO returns 8:30 Bitcoin slips below $16K on FTX contagion, Genesis warning Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Twitter #Tesla #Elon #Musk #China #Covid #selloff #crude #oil #EUR #USD #hawkish #Fed #FTX #contagion #Genesis #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary ___ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr ___ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 ___ Let's stay connected: LinkedIn: https://swq.ch/cH
Technical Outlook Of The Further Movement Of Bitcoin

The Bitcoin (BTC/USD) Has Made A New Yearly Low

InstaForex Analysis InstaForex Analysis 22.11.2022 10:52
Crypto Industry News: Grayscale has announced that it does not intend to join the recently popular trend of disclosing its cryptocurrency resources to large entities. Representatives said it wouldn't be the safest. Especially many stock exchanges have recently decided to take this step to reassure their investors, as trust in centralized exchanges has recently deteriorated as a result of the bankruptcy of FTX (FTX, FTX.US, Alameda Research) founded by Sam Bankman-Fried. After recent events, many investors feel the need to receive confirmation from an external auditor that their funds are safe in the hands of one of the large entities of the cryptocurrency market. One algorithm to prove this is the use of Merkle Trees, which captures data and obtains a set of "fingerprints" to allow users to verify that their funds have been properly screened by a third party. This method has been very popular recently, especially after the events related to the collapse of the FTX exchange. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The nearest technical resistance is located at $16,201 ( trend line resistance level). The momentum remains weak and negative despite the extremely oversold market conditions. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302008
It Is Time To Take Action On Cryptocurrency Regulation

It Is Time To Take Action On Cryptocurrency Regulation

InstaForex Analysis InstaForex Analysis 22.11.2022 10:58
Crypto Industry News: United States Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger has suggested that it is time to take action on cryptocurrency regulation. She voiced her opinion on November 18, speaking at the Texas Blockchain Summit: "We're clearly at a point where we need to stop, we need to gather the facts, we need to understand what's going on [...] to move regulation forward. Action is needed now"- she said. She says the CTFC will work with the Securities and Exchange Commission in this process. But what would these regulations look like? One of the proposals would be to introduce a "proof of reserves". "We expect that from our regulated entities. We don't ask for it every day, but we can [request it]. And I think that's fair," Mersinger said. "Maybe control is decentralized but you take customer funds and put them in some central location that they need to know about and be checked by regulators" - she added. In the meantime, however, "until a decision is made at the federal level, the states are the first line of defense." "Sometimes in Washington we forget that the states were the first actors and the first regulators here and that they play an important role. I think a lot of times the states are left out of the [federal regulation] talks, and that's unfortunate [a phenomenon]," - she said. Technical Market Outlook: The Ethereum market has broken out from the narrow range located between the levels of $1,219 - $1,281 and is testing the the sell-off low seen at $1,073 (at the time of writing the article). The bearish pressure is still strong, so in a case of extension to the downside the next target is seen at $999. The intraday technical resistance is located at $1,191 and $1,1219. The market has hit the extremely oversold conditions on the H4 time frame chart again, however, the bears are still in control of the market and keep making pressure. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302010
There Are Many Ways To Join A Crypto Community

Binance And OKX Are The Biggest Beneficiaries Of The FTX Bankruptcy

InstaForex Analysis InstaForex Analysis 22.11.2022 11:13
A new report by Coingecko released on Monday outlines the reasons for the collapse of FTX. The report compiled the total number of monthly visits to FTX.com by users from 30 countries between January and October 2022. It became clear that users from East Asia were among the most numerous and active users of the platform: 297,200 visits per month from South Korea, 241,700 from Singapore and 223,500 from Japan, accounting for almost 16% of the exchange traffic. Russian users took fourth place with almost 200,000 visits per month, while Turkey and Germany approached 190,000, rounding out the top six. Users from the UK visited the exchange an average of 129,000 times a month, which put them in 12th place. Canadians visited the site 100,000 times a month, which translates to 15th place, while Australians ranked 16th with 96,000 visits. The US was in 18th place, and their number of user visits per month may seem low at 93,000, but US clients were encouraged to use FTX.US for their trading, so the vast majority of US user traffic is not included in the report. South Korea, a country of 52 million people accounting for 6.1% of total traffic, was the hardest hit by the collapse of FTX. The exchange's bankruptcy led the South Korean government to accelerate the country's new Digital Asset Base Act (DABA), a comprehensive regulatory framework drafted in June 2022 following the collapse of cryptocurrency firm Terra in May. "As the market fell due to global austerity, Terra-Luna, Celsius and FTX failed one after another, making it a year of declining trust," Lee Myung-soon, senior vice president of the Financial Supervisory Service (FSS), said last week. Kim So-Young, vice chairman of South Korea's Financial Services Commission (FSC), also confirmed that due to the urgency of protecting users, it would be better for the country to quickly introduce minimum regulatory standards and add them later, rather than wait for international standards to be agreed upon. DABA is expected to be completed in 2023. Singapore is recognized as a major cryptocurrency hub in Asia and accounts for 5% of FTX.com's global traffic despite having a population of only 5.5 million. When Binance shut down in the island nation in December 2021, many of its users switched to FTX. Late last week, Singapore-based state holding company Temasek wrote off its entire $275 million stake in FTX after it said their eight-month due diligence process on the firm raised no red flags. Japanese users represented 4.6% of FTX.com's global traffic. On November 15, Japanese investment giant SoftBank announced that it would write off all of its $100 million investment in FTX they made earlier this year. On the same day, Japanese crypto exchange Liquid also suspended withdrawals from its platform. FTX bought Liquid in February 2022 to support FTX's latest entry into the Japanese market, as the deal meant the exchange gained access to Liquid's type 1 financial instrument business license. On November 10, the Japan Financial Services Agency issued an order to FTX Japan to cease business operations and hold assets. Since the FTX.com exchange went out of business and is under bankruptcy protection, the biggest beneficiaries of user traffic have been rival platforms Binance and OKX. As of November 13, Binance has increased its market share by 7% to a dominant 64% of the total among the top 10 cryptocurrency exchanges. The market share of OKX increased by 1.1% over the same period, from 11.9% to 13%.   Relevance up to 09:00 2022-11-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327788
The G20 And IMF Are Already Preparing Their Crypto Regulation

The Crypto Market Capitalisation Has Gone Sharply Down

Alex Kuptsikevich Alex Kuptsikevich 22.11.2022 12:22
Outlook Of Crypto Market Bitcoin went below 15,500 at the end of the day on Monday, rewriting two-year lows, and slightly retreated from those extremes by the start of trading in Europe, trading around 15,700 (-2% in 24 hours). Ethereum is updating lows from July at the time of writing, falling to $1072 (+3.5% in 24 hours). The crypto market capitalisation is down 1.75% overnight to $782bn, its lowest since January 2021. Although this indicator is very tentative and synthetic, we have seen a tug-of-war around $1 trillion for a long time. For a while, the market lingered near levels just above 830 - the high at the peak in January 2018. Now another belief that the previous peak of the last cycle would work as insurmountable support has been broken. The crypto market capitalisation has gone sharply down, failing to develop an offensive above its 200-week average by early November. The 200-week (4-year) period is consistent with the notion of cycles in crypto, and the situation now looks like the exit of leveraged speculators who thought crypto had bottomed out in June-October. Although we believe that squeezing the weak hands out of the sector is almost complete, we are now seeing nothing more than speculators deleveraging, which is generally healing the market. Technical analysis suggests capitalisation could fall as much as 400-450bn, nullifying the rally, before returning to growth. However, this technical picture looks excessively pessimistic, and the stingiest speculators might not wait for that entry point, as is often the case in the markets.   Possible problems at another major company According to CoinShares, investments in cryptocurrencies rose by $44m last week against inflows of $42m the week before. Bitcoin investments rose by $14m, while Ethereum fell by $1m. Investments in funds that allow shorts on bitcoin increased by $18m, while shorts on ETH increased by a record $14m. Inflows to "short" products were 75% of the total, suggesting a deeply negative sentiment amid the FTX collapse, CoinShares noted. According to IntoTheBlock, the share of unprofitable bitcoin addresses exceeded 51% (24.56 million addresses out of 47.85 million BTC holders). The last time a similar situation was observed was after the market crash in March 2020. Rumours have emerged in the cryptocurrency community about possible problems at another major company. The failure of digital asset manager Grayscale Investments to disclose reserves and the suspension of crypto lending operations by OTC platform Genesis Trading have raised concerns about the entire Digital Currency Group (DCG) sustainability. According to experts, the collapse of Grayscale would be more severe than the collapse of Three Arrows Capital.
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Bitcoin's Bears Managed To Take Full Control

InstaForex Analysis InstaForex Analysis 22.11.2022 14:05
The increase in trading activity after the downturn over the weekend played a cruel joke on Bitcoin and cryptocurrency prices. Investor sentiment remains decadent, which directly affects the movement of cryptocurrency prices. At the end of November 21, Bitcoin price slightly updated the local bottom below $15.7k. This process was accompanied by a surge in trading volumes, which, for the most part, were aimed at selling BTC coins. And despite the visual update of the local bottom, psychologically, the market is ready to see the cryptocurrency lower. Total fear in the market As of November 22, about 51.7% of addresses in the BTC network are at a loss. Recall that at the peak of past crises, this figure dropped to 55% in 2019 and up to 62% in 2015. Despite a clear downward trend, there is every reason to believe that the loss ratio will increase. Last week, CoinShares recorded an inflow of $44 million into crypto funds. The catch is that more than 75% of the investments went into "short" crypto funds or products. This points to the complete dominance of bearish sentiment in the market. Meanwhile, the Grayscale Bitcoin Trust story got a follow-up. Coinbase Custody published GBT reserves and reassured investors by confirming the company's solvency. CC representatives also noted that all Grayscale assets are safe from misuse. At the same time, the situation of the Genesis crypto broker risks becoming another "black swan" of the current crisis. Binance turned down the opportunity to acquire Genesis, making matters worse. Genesis management said it is continuing to negotiate a $500 million investment in the company. However, management does not rule out the possibility of filing for bankruptcy. The market is in a state of permanent fear and despair, and therefore any negative statements are perceived especially painfully. The Genesis announcement came last night ahead of the local Bitcoin bottom update. BTC/USD Analysis The bears managed to take full control of the situation and push the BTC/USD quotes below the $15.8k support level. As of writing, Bitcoin continues to trade near the $15.7k level, below a key support zone. If the situation does not radically change in the next 24 hours, then we expect a further fall. A strong support area at $14.3k–$14.8k will be the main target for the bears. However, in the current situation, the fall could be deeper and uncontrolled. Bitcoin's calm below $16k indicates a total fear and reluctance to buy back the bottom. Miner pressure, the macroeconomic crisis, institutional distrust and the threat of bankruptcy of Genesis, Gemini and a number of other companies are forcing investors to expect BTC to be much lower. In the current situation, technical analysis fades into the background, and psychology becomes the main driving force of the market. The market believes that the combination of the above factors can provoke a deeper fall in Bitcoin. Possible targets include the $14.2k, $14k and $13.1k levels, where buyers could start a massive buyout. Results In any case, it is important to understand that this is the final plunge of BTC, which should end with a similar V-shaped pullback. It is the formation of a similar pattern of mass buyer activation that will indicate the final achievement of the bottom.   Relevance up to 11:00 2022-11-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327798
The Special Edition Of The Saxo Market Call Podcast: The Wild Year Of 2022 For Commodities And What May Be In Store In 2023

Craig Erlam calls effects of the FTX crash "uncovered". Saudi Arabia confirms OPEC+ won't increase output in December

Craig Erlam Craig Erlam 22.11.2022 23:16
As was to be expected, it’s been a choppy week so far in financial markets with Europe a very mixed bag on Tuesday while US futures are marginally higher after making marginal losses on Monday. On the one hand, we could be seeing investors warily waiting for the FOMC minutes and taking in all of the speeches from various Fed officials in the meantime. On the other, this week may just be a void in an otherwise turbulent year thanks to a lack of major catalysts and the US Thanksgiving bank holiday at the end of the week. Read next: OPEC+ reject reports of increased output. Crude oil up| FXMAG.COM Saudi Arabia has gone some way to filling that void, with so much attention now likely to be on the Gulf over the coming weeks. It goes without saying that it came as quite a shock as everything unfolded as it wasn’t what anyone was expecting, quite the opposite in fact. And it could have a major impact on the outcome next month. But the 2-1 win over one of the tournament favourites, Argentina, was a monumental victory and undoubtedly one of the biggest shocks in World Cup history. It’s blown Group C wide open and cast serious doubt over whether Lionel Messi will ever get his hands on the trophy. In other news, Saudi Arabia also rejected reports that OPEC+ is considering increasing output on 4 December. Another dead cat bounce? Bitcoin is trading higher on Tuesday, but for how long? The knock-on effects of the FTX collapse are still being uncovered, with more names being added to the exposure list every day. Confidence in the markets has been shattered and it may take time to rebuild. There remains considerable uncertainty around the full consequences of the FTX collapse and as long as that remains the case, any rallies we see in cryptos may simply become dead cat bounces, as opposed to market bottoms. The latest occurred around $15,500, where it rebounded off a couple of weeks ago, and a break of this could trigger another sharp decline. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Filling the void - MarketPulseMarketPulse
Expectations of decent sales during holiday season have let Best Buy gain

Expectations of decent sales during holiday season have let Best Buy gain

Ed Moya Ed Moya 22.11.2022 23:32
US stocks are rallying as Wall Street continues to expect the Fed to downshift their tightening pace next month and on optimism that the risk of a railroad strike fueling inflation is low. ​ The latest round of Fed speak did not teach us anything new. ​ The Fed’s Mester noted that long-term inflation expectations are reasonably anchored. ​ The labor market is a key concern for the Fed, and Mester also pointed out that labor demand is still outpacing supply. Recent trends however are showing the labor market is showing signs of cooling. ​ ​ Some investors are growing confident that the potential railroad strike might not be as troubling for inflation as the Railway Labor Act will prevent key interruptions. ​ ​ Some traders are looking ahead to the upcoming Minutes, but they are dated (before the cool October inflation report) and will likely show many Fed members have an unclear rate path as inflation is a tricky beast to slay. Read next: Gold could be in some way prevented from rallying by unstable COVID outlook| FXMAG.COM FX/Fixed income Risk appetite is making an appearance today and that is helping send the Treasury yields and the dollar lower. ​ The 10-year Treasury yield fell 4.3 basis points to 3.784%. ​ Cooling inflation drivers, mainly an overpriced weakening of China and the railroad strike impact, are helping drive the dollar down today. The dollar’s weakness might be limited as options markets are showing too many excessive bearish bets being placed by hedge funds and money managers. Best Buy Best Buy shares are rallying after they raised their holiday outlook. ​ This was a welcomed surprise from the retailer that many feared was going to see a weaker consumer refrain from purchasing new TVs, appliances, and other gadgets. It looks like Best Buy is not expecting a disappointing holiday season and that is positive news for other retailers. US Data The Richmond Fed’s regional surveys of business activity showed manufacturing activity continued to soften in November. The composite manufacturing index remained negative and shipment and employment deteriorated slightly. ​ The economy is clearly weakening here and inflation should continue to come down as wages and employment decline. ​ Price trends data was mixed as prices paid declined and prices received rose higher, but that was somewhat expected given the return of supply chain issues. China’s reopening will be key for inflation heading lower next year. Crypto Wall Street is mostly green today and that has provided a little boost for cryptos. ​ Bitcoin is back above the $16,000 level but still remains in the danger zone as everyone waits for the next crypto domino to fall. ​ It seems crypto traders are already pricing in a bankruptcy for crypto lender Genesis. ​ Contagion for FTX will impact many but it seems a fresh catalyst is needed for sellers to take control. Bitcoin could continue to stabilize here if Wall Street rebounds, but that seems unlikely as this bear market for stocks has yet to bottom out. ​ Bitcoin has support ahead of the $15,500 level but if that does not hold, technical selling could send prices toward the $13,500 region. ​ ​ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stocks rise on downshift hopes, Dollar lower for now, Best Buy brings holiday cheer, US data, Gold rebound faded, Crypto benefits from Wall Street rally - MarketPulseMarketPulse
Binance Academy: Non-fungible Tokens: $69 Millions For An NFT!? NFT - What Is It?

NFT Tokens, the phenomenon & the concept - take a deeper look into the world of NFTs

FXMAG Education FXMAG Education 22.11.2022 23:41
NFT tokens amounted to the equivalent of USD 2.5 billion. That is 200 times more than the year before. What is the NFT phenomenon? What are NFTs? What are NFTs for? I invite you to the next episode of the Best Online Cryptocurrency Course for free. The concept of NFTs First, let's sort out a few things. NFT is an abbreviation for non-fungible token. So what… we can't get rid of it? That's not what it's about. The fungible token embodies money, which is generally fungible, and therefore exchangeable and tradable. For example, each 100 zloty banknote has the same value (okay, you can catch a word here, you can also find something collectible). An example of an object that cannot be exchanged will be an original painting, an example of which is "Mona Lisa '' by Leonardo da Vinci. So what is NFT? is a type of cryptographic token in the blockchain that represents a unique asset. These can be completely digital assets or tokenized versions of real assets. Since NFTs are not interchangeable, they can function as proof of authenticity and ownership in the digital realm. NFTs confirm, for example, a given file exists only in one copy and that it is original. Of course, you could say, but it's possible for me to make a print screen of some jpg and I already have a copy of it, it doesn't change anything because it's the original one. Similarly to the rest, as in the case of works of art, the aforementioned "Mona Lisa" lived to see a lot of copies, and yet its value did not decrease on this account, and it could even have had the opposite effect. On the Internet , we can freely copy, transfer and do a lot of other things with files. NFT tokens cannot be copied and can only be sent between cryptocurrency wallets. The NFT tokens we are discussing are mostly based on Ethereum or BNBchain. The advantages of NFTs It is worth mentioning the extraordinary advantages of NFT at the beginning. Hence, they are based on the blockchain, which gives us: protection against interference with this data, ownership act, NFT flow history, metadata, public verifiability (everything is stored in the blockchain), decentralization (we do not need to know the supplier of database servers, honesty of the data manager) As the world transitions from Web 2.0 to Web 3.0, we can see NFT as a building block in terms of: Revolutionizing property rights, Revolutionizing the exchange of digital assets It matters for digital communities, the economy of the metaverse , i.e. for the tradable resources in games. Where NFTs are most commonly used But let's now consider what specific applications NFT tokens can have and in which industries they already bring added value. And of course, art comes to mind. NFT tokens have helped to solve long-standing problems related to the uniqueness of digital art. In short, the problem was "how to make virtual graphics unique when you can just copy them", in the real, non-digital world, there are also fakes, but we are usually able to authenticate them. Crypto art derives most of its value from digital verification, which confirms authenticity and ownership. Although anyone can see CryptoPunk on the blockchain Ethereum and download or save the image, only the owner will be able to prove that they own the original. Another interesting example is the launch of the Binance NFT platform, for which the exchange has prepared cooperation with Krzysztof Gonciarz. Gonciarz's work, as the only person from Poland, was put up for auction in the first week after the launch of the platform. Gonciarz created a unique digital work of the NFT type entitled "Fantazmaty", telling the story of the relationship between an online creator and his audience. Nowadays, on the internet , it is no longer possible to be a flesh and blood human being, each time you are just a version of yourself - commented the creator himself. "Fantazmaty" is a work that talks about the process of projecting the image of a contemporary artist, which is an echo of his work. Each viewer creates their own Krzysztof Gonciarz. The work was auctioned for 1.05 ETH. Parallel to art, we have collectible topics, and more precisely, the need for digital collectibles, this use has gone mainstream with NBA NFT trading cards. The third place where NFT is already used is finance, and more precisely its decentralized version, i.e. DeFi. Another place where NFT is applicable are games and the room for maneuver in this sector is huge. If you are from an older generation, it is probably difficult for you to understand how something in the game can reach the value of, for example, tens of thousands of zlotys if, for example, the game is free. Microtransactions and in-game purchases have created a multi-billion dollar industry that can leverage NFT and blockchain technology. So how does NFT improve the gaming world? Players get full ownership of their assets. In-game assets can also have real-world value as users can trade their NFT assets. Verifiable NFT ownership can allow players to take these assets with them to another game. For example, in the game My Neighbor Alice, game items can be traded both through the in-game market and NFT markets in other blockchains, which significantly increases liquidity Another place where NFT comes into play is in music. Think of it as a digital "first edition" of the record. Including a song in NFT is very similar to graphics, but there are other uses as well. E.g. using blockchain to distribute royalties. The 6th place that comes to mind is real assets that can be digitized, creating tokenized digital versions of these records can move highly illiquid items (such as a house or land) onto the blockchain. In April 2021, Shane Dulgeroff created an NFT representing a property for sale in California. A cryptographic was also attached to the token. The winner of the auction received NFT and ownership of the property. However, the exact legal position of the sale and the rights of the buyer or seller are uncertain. Another place where NFT can be applied is logistics and supply chain issues to ensure that data is authentic and reliable. NFTs also have the added benefit of representing unique items. We can use NFT to track a product, which includes metadata about its origin, journey, and warehouse location. For example: Pairs of high-end luxury shoes are made in a factory in Italy. They are credited with NFTs that can be quickly scanned from the packaging. Timestamped metadata includes information about when and where the shoes were made. As the product moves through the supply chain, the NFT is scanned and new time-stamped metadata is added to it. The data may include the location of warehouses and the time of arrival or departure. When the shoes arrive at their destination, the store can scan them and mark them as picked up. The exact history of their journey is available for inspection, so that the authenticity of these shoes can be confirmed. In conclusion In general, if we look at NFTs, the revolution may primarily concern the elimination of intermediaries in the world of real estate, art and music. And this can be, above all, huge savings for both the buyer and the seller. When investing in NFT tokens, it should be remembered that simply issuing a given token at astronomical prices will not make this token sell to us. Therefore, before investing, be sure to pay attention to, among others: on market liquidity. In the description of this video, valuable links have been dropped, including the history of the NFT token valuation of the first tweet of the founder of twitter. That's about the balance of this episode. And remember, the world is based on transactions that will not disappear and need to be modernized!
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

History of Bitcoin - a dive into the history of the first cryptocurrency

FXMAG Education FXMAG Education 22.11.2022 23:41
Bitcoin is undoubtedly the most famous cryptocurrency in the world. Some treat it like digital gold, others see it as a way to solve the problems that plague modern payment methods, and even the entire monetary system. Why was it created? What is its history? What does it have to do with spam and pizza?   In August 2008, the bitcoin.com domain was registered Two months later, on October 31, 2008, a paper titled "Bitcoin - an electronic peer-to-peer payment system" was published. The author of this work was Satoshi Nakamoto, a legendary figure and to this day extremely mysterious. The document created by Nakamoto contains the most important assumptions about Bitcoin. The author wrote about the need to create an electronic system that would be based on cryptography, not trust, and would allow transactions to be carried out without the need to confirm them with trusted third parties. It is worth paying attention to the surroundings and the time in which this manifesto was created In 2007, the financial crisis literally spilled over the world, which greatly increased the aversion to the traditional monetary system. The problems were literally printed, and hardly any institution suffered specific consequences resulting from earlier actions. However, this was not the first time someone realized that the traditional system was flawed.   The first foundations of the technology behind Bitcoin were created in the early 1980s. We owe the foundation to David Chaum, a cryptographer. Chaum saw the risk of moving around the web and wanted to ensure the anonymity of Internet users. He described the whole concept in 1982 in the work "Invisible signatures for untracked payments". Chaum emphasized that the data collected by banks and intermediaries may be dangerous in the future! Hence, his system ensured anonymous transactions. Why did Chaum's idea fail in the 1980s despite interest from Visa, Microsoft and Germany's Deutsche Bank? His tool was not immune to the so-called “double spending” by exploiting the vulnerabilities in the code; two separate transactions could be made using the same funds. Another innovator was Adam Back , who introduced the hashcash system, which aimed to reduce mass emailing (spam is one of the first plagues of the Internet). The technology itself was unrelated to banking, but its elements heavily helped Nakamoto create Bitocin . Speaking of Bitcoin, it is impossible not to mention the Cypherpunk movement, which operated in the 90s. Its members were cryptologists, and how could it be otherwise with liberal views. Their discussions and works were also an important building block in the later activities of Nakamoto himself. On January 3, 2009, 30,000 lines of code were written, and Satoshi Nakamoto mined the first Bitcoin block, called the Genesis Block. Satoshi Nakamoto wasn't the only person working on Bitcoin An early enthusiast of this cryptocurrency was Hal Finney, a member of the cyberpunk movement. Finney was literally fascinated by the idea of a decentralized internet currency. When Nakamoto announced that he was releasing bitcoin software, Finney declared that he would mine the first bitcoins - these were the first 10 coins that Satoshi sent as part of the test. Finney was not only an enthusiast, but also a successful programmer, in 2004 he designed a high-use proof-of-work that required some computational work to be done by the service requester - It was supposed to protect computer systems against DoS attacks. Hal Finney died in 2014 and according to the information provided to the media, he did not know who Satoshi was until the end. The creator of Bitcoin is shrouded in mystery. In Wikipedia, we can find several different theories as to who hides behind this pseudonym . This includes, for example, Elon Musk , but it must be admitted that this is a far-fetched theory. What do we really know about the creator of Bitcoin ? Nakamoto has written nearly 80,000 words about Bitcoin in 2 years and there are many indications that he is a native English speaker, and maybe even British. Usually his posts/comments appeared when it was daytime in the UK. There is also no shortage of evidence that he was an American. Either way, we'll probably never know. The first real Bitcoin rate was determined based on the cost of its mining. It was exactly on October 5, 2009. One US dollar could buy 1309 BTC . As you well know, the roles have reversed.   In 2010, there were several places where bitcoin was accepted Given the rapid price increases of Bitcoin, there is no shortage of stories and memes related to the first transactions made with this cryptocurrency, one of the most popular by far is the transaction that was made when buying a pizza, which was agreed to by one of the first Bitcoin users - Laszlo Hanyecz . Purchased 2 pizzas at Papa John's for ... 10,000 BTC. The transaction took place on May 22, 2010 - In 2021, these Bitcoins were worth almost $700 million Admittedly, this is a significant opportunity cost. The amount is very impressive, but it must be added that since then the price of Bitcoin has fallen significantly, and Leszno himself has been waiting for a willing transaction for 4 days! In July 2010, the cryptocurrency exchange platform MT Gox was launched Which for several good years was the market leader. A year later, the Silk Road platform, where you could buy illegal drugs, was launched, and Bitcoin became its main form of payment. This, of course, did not generate good PR for the cryptocurrency, which was and still is to be an alternative to the current monetary system. 2 years after the first bitcoins were mined Satoshi Nakamoto disappeared from the network. On April 23, 2011, he sent a short e-mail to a bitcoin developer saying that he was going to do something else and that he was leaving bitcoin in good hands.   Why did Satoshi Nakamoto let go ? It is possible that he was convinced by the stories of other creators of alternative currencies. In 1998, Bernard von NotHaus, a native of Hawaii, created a currency called the Liberty Dollar, he was charged with breaking the law and sentenced to six months of house arrest. 9 years later, one of the first E-Gold digital currencies was liquidated in an atmosphere of suspicion of money laundering. Either way, Nakamoto 's voice is literally missing.   One of the largest transactions that made an impression a few years ago was the purchase of bitcoin worth 10 million dollars by the Winklevoss brothers. This investment tripled after just 12 months, if only the Winklevoss brothers wanted to monetize their investments, they could do it with the Bitomat, which was built in Vancouer in 2013! Although, from a practical point of view, it might be difficult to do. The same year also saw the creation of Grayscale 's first investment fund , which focuses on cryptocurrency investments. In 8 years, this fund has raised over USD 38 billion from investors. In 2014, the Mt. Gox At the time of the attack, the Tokyo-based exchange was the largest in the market, with a trading volume of 70% of the total Bitcoin supply . The following years saw the ever stronger penetration of Bitcoin into the awareness of not only investors, but also average citizens. With the rest of the fortunes that were created along with the development of this market could not go unnoticed. Is it worth paying attention to these types of messages? Definitely yes. Most often, very positive news may be associated with a local top in the quotations of this cryptocurrency that raises flushes on the face .   Bitcoins Timeline 1982 - David Chaum creates the " Invisible Signatures for Untracked Payments" project 1990's - Adam Back creates the hashcash system 08.2009 - registration of the bitcoin.com domain 03.01.2009 – The birth of the blockchain and the creation of the first block called “ genesis ”. 01/12/2009 – The first transaction on the bitcoin network 05.10.2009 – Determination of the first exchange rate bitcoin exchange - Bitcoin Market 05/22/2010 – First use of bitcoin as a currency bitcoin exchange - Mt.Gox – The beginning of mining on graphics cards bitcoin mine Slush's Pool 08.12.2010 – The first transaction using a mobile phone 01/28/2011 – 25% of all possible bitcoins mined 02/09/2011 – One bitcoin reaches $1 04.04.2011 – Beta tests of the first Polish stock exchange bitomat.pl April 16, 2011 - First article about bitcoin in serious media - TIME - "Online Cash Bitcoin Could Challenge Governments, Banks" April 14, 2011 - WikiLeaks accepts bitcoin 08/26/2011 – Fall of the Polish exchange bitomat.pl – 17,000 BTC lost bitcoin and World Expo conference in New York 09/23/2011 – P2Pool is established The collapse of the large TradeHill exchange – Fall of the Bitcoinica platform 06.2012 – Coinbase is established – WordPress.com accepts bitcoin 28/11/2012 – Drop in block reward from 50 to 25 BTC March 12, 2013 - Hard Forks blockchain 03/18/2013 – The first attempt to regulate bitcoin by FinCEN (USA) bitcoin ATM 07.2013 - Billionaire Winklevoss brothers enter bitcoin 09.09.2013 – Bitcoin ticker on Bloomberg 20/09/2013 - Bitcoin recognized as fully-fledged private money in Germany 11/19/2013 - Bitcoin surpasses Western Union in terms of the amount of funds sent 2013-11-21 – First university (Cyprus) accepts bitcoin 2013-11-22 - Tickets for space travel for bitcoins – Beginning of the ban bitcoin in china 03/25/2013 – Denmark exempts bitcoin trading 02/28/2014 – Fall of the largest bitcoin exchange – Mt.Gox 01/08/2017 – First BTC hard fork and creation of Bitcoin Cash (BCH) 2017-10-24 – Second hard fork of BTC i rise of Bitcoin Gold (BTG) Bitcoin futures contracts on the CME exchange 14/04/2021 - Debut Coinbase exchange on Wall Street   Source materials: https://businessinsider.com.pl/gielda/kursy-walut/tym-jest-bitcoin-kto-go-created/r3ernvq https://www.csmonitor.com/Business/2014/0218/Bitcoin-ATM-debuts-in-the-US-What-you-need-to-know https://comparic.pl/historia-bitcoin/
Bitcoin Is Showing A Good Sign For The Further Rise

JP Morgan Chase Received A License For Its Digital Wallet Brand

InstaForex Analysis InstaForex Analysis 23.11.2022 09:38
Crypto Industry News: While the market is sinking in losses and more and more investors are almost certain of drops to around USD 10,000, the largest bank in the United States, JP Morgan Chase, received a license for its digital wallet brand - the Crypto Wallet Trademark from the U.S. Patent and Trademark Office yesterday. The bank's new brand will be able to be used for services related to cryptocurrencies, financial transactions and digital assets. JP Morgan has registered a trademark for a digital wallet and related cryptocurrency processing services. According to a filing in the U.S. Patent and Trademark Office, the bank filed a trademark for "JP Morgan Wallet" in July 2020, the application was finally approved on November 15, and today information about its acceptance has circulated on the market. The trademark text indicates that it can be used for online services, including cryptocurrency payment processing, electronic transfer of virtual currencies by the online community and exchange of virtual currencies. By registering the service, the bank seems to be opening up to the world of the Metaverse. JP Morgan analysts have pointed out many times before that it is virtual worlds that will become a place where the adoption of cryptocurrencies will accelerate and where they will become the currencies of virtual economies. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls are trying to bounce and they broke above the local trend line already ( $16,201is the trend line resistance level), the next technical resistance is seen at $17,103. The momentum bounces from the extremely oversold market conditions as well and is currently positive, so the bounce might extend higher. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302172
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

The FTX Hacker Siphoned Nearly $447 Million | The Ethereum Market Outlook

InstaForex Analysis InstaForex Analysis 23.11.2022 09:42
Crypto Industry News: The hacker who attacked the bankrupt cryptocurrency exchange FTX began to transfer his Ethereum resources to a new wallet address. The attacker was the 27th largest ETH holder after the hack, but fell 10 places after the weekend's ETH dump on exchanges. The FTX hacker siphoned nearly $447 million from numerous FTX global and FTX USA exchange wallets just hours after the crypto exchange filed for bankruptcy on November 11. Most of the funds stolen were ETH tokens, making the hacker the 27th largest ETH whale. Two hackers were active at the time of the FTX hack, one in a black hat who managed to steal $447 million and one in a white hat who managed to transfer $186 million worth of FTX assets to a cold wallet. However, when the Bahaman Securities and Exchange Commission released a notice suggesting they were trying to move assets out of FTX, it raised a lot of suspicion, with many claiming that the securities regulator was actually the hacker behind the hack. Technical Market Outlook: The Ethereum market has made a Double Bottom price pattern on the H4 time frame chart and is bouncing from the sell-off low seen at $1,073. The bearish pressure is still strong, so in a case of extension to the downside the next target is seen at $999. The intraday technical resistance is located at $1,191 and $1,1219. The momentum is moving away from the extremely oversold conditions on the H4 time frame chart, so the odds for a strong bounce are high. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302174
Assessing the 50-50 Risk: USD's Outlook and Market Expectations for a June Fed Hike

New-home sales are likely to continue to fall - and there is no game changer here for the Fed

Alex Kuptsikevich Alex Kuptsikevich 23.11.2022 10:16
Recently, we've asked Alex Kuptsikevich about current situtation on markets. Cryptocurrency market remains in an unstable situation so do indices. What's more we're on the verge of release of crucial macro data from the USA such as core durable good orders and building permits which go public later today. Indices - are we past dips yet? Despite some slippage in the indices over the last two weeks, it is more likely that the bottom has already been passed. Our expectations have quite a few "buts" and "ifs". Nevertheless, the working scenario assumes that the peak of fear by the markets has already passed. The Fed is preparing the markets for further rate hikes but is prepared to slow down. Inflation data and lower commodity prices and freight costs play into this scenario. In the current environment, the different indices are moving up at different speeds, and some points are not making new highs as dramatically. Still, nevertheless, their move up has probably already begun. In the indices, we see the Dow Jones outperforming the Nasdaq, as the latter is and will remain under pressure from interest. The indices also behaved the same way, starting their recovery in 2002, when they had to rise at non-zero interest rates. Read next: NFT Tokens, the phenomenon & the concept - take a deeper look into the world of NFTs| FXMAG.COM Crypto crash...? The latest cryptocurrency crash promises to repeat the history of the previous crypto-winter when a year-long decline was followed by a 16-week sideways slump from November 2018 to March 2019. But in this case, it is worth looking for analogies not with the duration but with the fragility of the recovery that will follow even after the market has settled down. Core Durable Goods Orders and Building Permits are released this week - how crucial are these prints ahead of the December Fed meeting? The Fed is likely to focus now on inflation and employment, which have already thundered away, and a new batch (NFP) is not expected until late next week. Durable goods orders - as an indicator of business sentiment - could worry the markets if they diverge significantly from expectations. It would be especially unpleasant for the markets if they see firm orders growth - it would be seen as a signal for the Fed to continue raising rates as fast as possible. New-home sales are likely to continue to fall - and there is no game changer here for the Fed: this market was bloated, is now deflating, and there is still a long way to go before a depression. The biggest attention of market participants is expected to be on the Fed minutes, also coming out on Wednesday evening.
Key Economic Events and Earnings Reports to Watch in US, Eurozone, and UK Next Week

OECD: The Global economy Will Not Stop Into Recession This Year

Swissquote Bank Swissquote Bank 23.11.2022 10:27
The OECD said the global economy will avoid a recession this year, and next year, and that unemployment rates won’t skyrocket. That was the good news. But growth will be low and slow, and inflation will remain high, keeping central bank policies tight. That was the bad news. Stocks The S&P500 gained, as strong earnings from retailers improved sentiment before Thanksgiving. Energy stocks performed well on the back of a sustained recovery in crude oil. Shell rallied 5% on announcement that the company will be reviewing its investment in the UK to avoid paying windfall taxes to the British government. BP rallied 6.52%. Central Banks In central bank news, the Reserve Bank of New Zealand (RBNZ) raised its rates by 75bp as expected today. The US dollar softened, and the EURUSD rebounded past 1.0320 in the middle of mixed comments about what the European Central Bank (ECB) should do at its next meeting. Gold In precious metals, gold slid yesterday despite a softer US dollar, and softer yields. China In China, stocks were not looking good as Beijing and Shanghai put stricter rules to slow the Covid contagion, again! But Alibaba rebounded almost 4% in HK today, on news that Ant Group would pay a fine over a billion USD. Crypto In cryptocurrencies, traders remain on the edge, on news that a ‘substantial amount’ of FTX assets have either been stolen or are missing. Bitcoin however resists. The price of a coin recovered above $16K yesterday, but risks remain tilted to the downside. Watch the full episode to find out more! 0:00 Intro 0:30 OECD says no recession, slow growth but not for UK! 1:45 Market update 2:52 Oil, natural gas up 4:41 Goodbye Shell! 6:15 EUR traders expect softer Dec rate hike 8:00 Gold under pressure 8:22 Alibaba jumps on $1 billion fine 9:08 Bitcoin resists Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #OECD #growth #forecast #Gazprom #natgas #crudeoil #recovery #EU #Russia #price #cap #EUR #USD #ECB #Fed #FTX #contagion #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The G20 And IMF Are Already Preparing Their Crypto Regulation

Hard Time Fore Crypto Market: Genesis Trading Is Potentially Facing Bankruptcy

Alex Kuptsikevich Alex Kuptsikevich 23.11.2022 11:58
Bitcoin and Ethereum picture Bitcoin is adding 5.1% over the past 24 hours to $16.5K on Tuesday after updating two-year lows below $15,500. The rate rose in two powerful bursts, one at the start of trading in the US and the other at the beginning of trading in Asia. It's unlikely we will see a start of a promising move on high volumes. So far, as a reflex, investors are trying to follow the stock indices, where risk appetite is increasing. Ethereum is adding 6.7% in 24 hours as traders are encouraged by its ability to defend the $1,000 level. Top altcoins are adding from 4.6% (Cardano) to 30% (Litecoin) over the last 24h. The latter is rising on signals that the SEC may recognise the coin as a digital commodity, like Bitcoin, rather than an asset like almost all other cryptocurrencies. Despite the rebound, Bitcoin is still below the level it started the week, so we characterise the current move as a rebound rather than the beginning of a recovery. Bitcoin first needs to consolidate above $17K as a first reversal signal. More chances are that we are still seeing another mini rally in the bear market. The crypto lending platform's Binance will not invest in Genesis Trading amid the crypto lending platform's search for $1bn in emergency funding, The Wall Street Journal reported. Without an additional cash infusion, Genesis Trading is potentially facing bankruptcy. According to Glassnode, miners this year have sold the most significant volume of bitcoins since 2016. Capriole fund founder Charles Edwards noted that miner sales had soared 400% in the past three weeks. According to him, if BTC does not rise soon, we will see a massive bankruptcy of mining companies. The crypto market has seen a noticeable drop in liquidity following the collapse of FTX, Kaiko noted. Trading volumes on crypto exchanges more than halved to $100bn every week. The US House of Representatives Committee on Agriculture will hold a hearing on December 1 on the crypto-exchange FTX and measures to mitigate the impact of its collapse. The hearing is expected to feature remedial proposals from the head of the Commodity Futures Trading Commission (CFTC), Rostin Behnam.
Swiss Inflation Falls Below Expectations; US Markets Closed, Fed Minutes Awaited

The RBNZ Accelerated Its Pace Of Tightening This Morning

Craig Erlam Craig Erlam 23.11.2022 12:09
Equity markets appear to be treading water on Wednesday as we await the latest batch of FOMC minutes later in the day. Asia played a bit of catchup overnight after Europe and the US posted decent gains on Tuesday that built throughout the session. But futures on both sides of the pond are barely changed from yesterday’s close which may change as the day progresses, of course. I’m not sure whether it’s the FOMC minutes release, the Thanksgiving bank holiday, or just the lack of major catalysts that are driving the inactivity in futures markets. There’s also a huge amount of data on the calendar today which could get things moving including flash PMIs, as well as US durable goods, home sales, consumer sentiment, and jobless claims. That should keep us entertained throughout the day. The minutes are obviously the standout here, although as always I do wonder what exactly we’re going to learn from them that isn’t already evident from the decision, statement, press conference, and flurry of central bank commentary since the event took place. Often it’s not the substance of the minutes but the subtle changes that investors get carried away with. The dovish pivot that may or may not have actually been has been the focus in recent weeks, with Fed commentary since not exactly clearing anything up. Investors may be on the hunt for clues that they’ve acted prematurely, or that there’s actually more support for such a slowdown in tightening and less for a higher terminal rate than they previously thought. Either way, the potential for a big response may be what’s creating this paralysis in the markets this morning. And as can often be the case, it may all be for nothing if the minutes do in fact tell us nothing we already don’t know, leaving us none-the-wiser about the terminal rate but perhaps more assured that 0.5% is more likely in December than not. Of course, the inflation data shortly before the meeting could change that. RBNZ accelerates its tightening The RBNZ accelerated its pace of tightening this morning with a record 75-basis point hike which was in line with expectations. There was plenty of volatility in the New Zealand dollar around the release though as the central bank set a much higher terminal rate and forecast a recession starting next year. A more aggressive approach, in its view, is needed to get inflation back to the target range of 1-3% as the labour market is too tight and inflation is at risk of becoming increasingly embedded. Is the case for $10,000 greater than that for $20,000? Bitcoin is in the green for a second day, up more than 2% in early trade and desperately trying to establish a bottom in the market. That may be easier said than done at a time when the headlines are far from favourable due to the fallout from the FTX collapse. Everyone is wondering who the next victim will be and whether this debacle will uncover similar practices in other areas of the market. Against that backdrop, it’s hard to imagine bitcoin managing any kind of significant, sustainable recovery. The next area of resistance falls around $17,500, a break of which could make things more interesting. But that could be very difficult to overcome. There’s arguably a greater case for the price to fall to $10,000 at the moment, than rising to $20,000. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Tether announces a great chain swap, crvUSD code and whitepaper released

Crypto.com Accelerate the... Crypto.com Accelerate the... 23.11.2022 22:09
Tether performed a $1B USDT chain swap from Solana to Ethereum. Curve Finance launches stablecoin crvUSD, releases code and whitepaper. Uniswap says it collects users’ public on-chain data. Weekly DeFi Index This week’s market cap, volume, and volatility indices were negative at -10.33%, -40.23%, and -73.78%, respectively.         New Project Spotlight Users can now easily add their preferred EVM network in the Crypto.com DeFi Wallet. Through EVM network support, users are able to send and receive tokens on their custom networks, directly interact with dApps from their DeFi wallet, as well as tap into mainnet and testnet support.         News Highlight Tether, the largest stablecoin issuer in the world, announced a US$1 billion chain swap to convert USDT on Solana to Ethereum ERC20 with the help of an undisclosed third party.  Curve Finance released the official code and whitepaper of its stablecoin, crvUSD. The stablecoin will be overcollateralised and rely on an algorithm called Lending-Liquidating AMM (LLAMMA). Uniswap announced an update to its privacy policy and will now collect public on-chain data, such as wallet addresses and transaction history, which will be used to “make data-driven decisions to improve user experience”. Uniswap Labs introduced two new smart contracts: Permit2, which allows sharing and managing token approvals across different smart contracts, and Universal Router for token and NFT swaps aggregation.  Cardano’s developer Input Output Global is releasing a new privacy-focused blockchain called Midnight, which is alleged to preserve privacy while giving access to regulators and auditors. Midnight will be a side-chain of Cardano and offer zero-knowledge proof smart contracts. Ren Bridge announced its plans to sunset Ren 1.0 and will soon launch Ren 2.0, an open source community-controlled cross-chain network. Recent Research Reports     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 Source: DeFi & L1L2 Weekly (23/11/2022) (crypto.com)
Bitcoin Is Showing The Potential For The Further Downside Rotation

InstaForex forecast Bitcoin may decrease again. According to the broker, Genesis crash was to some extent caused by FTX...

InstaForex Analysis InstaForex Analysis 23.11.2022 22:40
The most crucial level of $ 18,500 and its "duplicate" level of $ 17,582 have both been overcome by bitcoin, as seen on the 4-hour TF. The technical foundation is now in place for additional cryptocurrency sales. We haven't noticed any new collapses, even though the fundamental background of "bitcoin" is still a failure. As we previously stated, bitcoin may remain flat for several weeks or even months after another decline. In theory, this is what we are experiencing right now. The cryptocurrency has been trading between this price and $17,200 for the past two weeks after dropping to $15,600. Therefore, we will not be surprised at all if a narrow sidewall forms in the near future. At the same time, we fully anticipate that cryptocurrency will soon start to decline again. As it turned out, the insolvent FTX is partly responsible for Genesis' liquidity issues. The Alameda venture fund, closely associated with FTX, borrowed $1.6 billion from Genesis in September 2021, with FTT serving as collateral. The FTX exchange, which we have already discussed, issues FTT as its token. In other words, these tokens were not widely used, and now that the exchange has failed, they are worthless. In actuality, the bankruptcy of FTX caused Genesis' $1.6 billion in assets to burn down. Currently, Genesis asserts a liquidity shortfall of about $1 billion, which could lead to its collapse. According to experts, mining complexity is still increasing. From our perspective, this is yet another drawback for bitcoin because the cost of mining increases with mining difficulty. Its price is currently below the cost of production, which is made worse by the rise in complexity. Remember that the subsequent halving is scheduled to occur in 2024. Remember that software-based halving divides the compensation for one extracted block in half and is embedded in the code. As a result, miners will earn half as much for each block mined in one and a half years as they do now. In the past, bitcoin's price would rise after halvings, but this time around, it might be the opposite because someone would have to buy more bitcoin to increase in value. In the interim, there are no apparent buyers on the market.     The "bitcoin" quotes left the side channel they had been in for five months in the four-hour time frame. Since the fall has already passed both crucial levels of $18,500 and $17,582, we anticipate it to continue with a target of $12,426 in the medium term. Although trend channels and lines are no longer useful, the downward trend still exists. Although Bitcoin tries to float, the fundamental background frequently submerges it. Relevance up to 15:00 2022-11-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/327955
Bank Of Japan (BoJ) Plans To Continue Its CBDC Experiment

Bank Of Japan (BoJ) Plans To Continue Its CBDC Experiment

InstaForex Analysis InstaForex Analysis 24.11.2022 10:09
Crypto Industry News: Despite Japan's uncertainty about whether to issue a central bank digital currency (CBDC), the Bank of Japan (BoJ) continues to experiment with the potential of a digital yen. Japan's central bank has partnered with three megabanks and regional banks to conduct a pilot CBDC issuance, local news agency Nikkei reported. The pilot program aims to provide demonstration experiments for the issuance of Japan's national digital currency, the digital yen, starting in spring 2023. As part of the process, the BoJ is expected to work with major private banks and other organizations to detect and resolve any issues with customer deposits and withdrawals in bank accounts. According to the report, the pilot program will test the offline functionality of a possible Japanese CBDC, focused on payments without the internet. Japan's central bank plans to continue its CBDC experiment for about two years and decide to issue a digital currency by 2026, the report notes. The news comes as countries around the world are increasingly launching CBDC research and development initiatives, with China leading the way. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls are trying to bounce and they broke above the local trend line already ( $16,201is the trend line resistance level), the next technical resistance is seen at $17,103. The momentum bounces from the extremely oversold market conditions as well and is currently positive, so the bounce might extend higher. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302347
The EU Will Move Forward With The Implementation Of The Digital Euro

In India Preparations Are Now Underway To Pilot A Digital Rupee Program

InstaForex Analysis InstaForex Analysis 24.11.2022 10:15
Crypto Industry News: The race to bring the world's first CBDC to full scale is in full swing. One of the leading countries in this is India. Others are, of course, China, or recently Australia. In the case of India, however, we are talking about a potential addition to the financial system with a digital rupee, not a full replacement of its traditional, physical form. Some time ago we received information that the said country is keenly interested in introducing the digital currency of its country. After extensively testing the new currency system of the Central Bank of India, preparations are now underway to pilot a digital rupee program for retail customers. According to media reports, the CBDC is already at the final stage of preparations for its introduction. Among the main stakeholders are, for example, State Bank of India, Bank of Baroda, Union Bank of India or HDFC and IDFC Banks. Currently, there are discussions about whether all commercial banks will eventually be covered by the new system. Technical Market Outlook: The Ethereum market has made a Double Bottom price pattern on the H4 time frame chart and is bouncing from the sell-off low seen at $1,073. The bulls has managed to extend the bounce towards the level of $1,198 and are still moving higher. Nevertheless, the bearish pressure is still strong, so in a case of extension to the downside the next target is seen at $999. The intraday technical resistance is located at $1,213 and $1,1219. The momentum is moving away from the extremely oversold conditions on the H4 time frame chart, so the odds for a strong bounce are high. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302349
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Crypto Market Rose Upon The Release Of FOMC Minutes

ByBit Analysis ByBit Analysis 24.11.2022 14:48
Chart of the Day  US stocks notched gains for a second day after the Federal Reserve’s latest meeting minutes revealed that most officials support the moderation of the pace of rate hikes soon. Some analysts highlight a dovish undertone, as the minutes recognize tightened international financial conditions and softened consumer demand. Others believe that the minutes didn’t convey anything new, and markets may be overreacting to the perceived shift in tones.  The broader crypto market rose upon the release of FOMC minutes. As of the time of writing, BTC has established a stronger footing above the $16.5k handle, after posting a 1% increase in the last 24 hours. ETH outpaces BTC with a 3.6% jump in the same period, and is now changing hands above the $1,200 level. Mid-to-large-cap altcoins saw mixed performances, with SOL leading the pack on a double-digit percentage in a similar timeframe. Top gainer LTC trimmed its recent gains, but still managed to capture a 32.5% gain in the past week, eight months ahead of the network’s third mining rewards halving.  Amid the FTX unraveling over the past weeks, the aggregate market cap of stablecoins briefly overtook that of Ethereum. The top 4 stablecoins in the market, namely USDT, USDC, BUSD, and DAI took up over $138 billion in total, during a period marked by high unrealized loss and strong stablecoin purchasing power.    Talk of the Town  DeFi management platform Llama and risk management outfit Gauntlet have submitted a governance proposal on Aave to cover a $1.6 million bad debt brought on by a publicized short attempt on Tuesday. The short attempt at CRV tokens was linked to the Mango Markets exploiter Avraham Eisenberg, who borrowed 92 million CRV from the DeFi lending platform and proceeded to sell them on a centralized exchange, causing an initial decline in the price of CRV. However, the short seller suffered a squeeze after CRV rallied above $0.60, and was eventually liquidated, leaving a $1.6 million hole in the DeFi protocol. The proposal calls for the use of Gauntlet’s insolvency fund and the Aave Treasury to cover the bad debt, as the debt coverage process could help to optimize the Aave DAO treasury. The community will discuss the proposal in the coming days, and more detail on how the process unfolds will be released if the DAO favors the proposal. 
Analysis Of The Litecoin Cryptocurrency Movement

Litecoin Is First In Percentage Change In Price Over 7 Days

ByBit Analysis ByBit Analysis 24.11.2022 15:07
Despite the recent market downturn largely attributed to FTX’s downfall, Litecoin (LTC) has been moving in the opposite direction, with its price pumping by 35% over the past week, reaching a high of $81.52. This ranks Litecoin first in percentage change in price over seven days, and sixth in terms of 24-hour volume. Source: CoinMarketCap Source: CoinMarketCap This price pump has significantly increased Litecoin’s market capitalization, surpassing both meme coin Shiba Inu (SHIB) and Solana (SOL). Source: CoinMarketCap Source: Santiment According to analytics by Santiment, this drastic rise in price and valuation of Litecoin can be attributed to increased Litecoin accumulation by whales. As evident from the chart above, addresses holding from 1,000 to 100,000 Litecoin accumulated $43.4 million of value.  Given the surge in LTC's price, is it a good investment now? In this article, we’ll explain what Litecoin is, why it has remained a top crypto, the risks of investing in it and whether you should either trade or invest in Litecoin. What Is Litecoin (LTC)?  Also widely known as Digital Silver, Litecoin is an open-source, global peer-to-peer (P2P) cryptocurrency network that allows people to send payments worldwide quickly and inexpensively. Founded on October 13, 2011, Litecoin was created as a fork of Bitcoin (BTC) to improve on three main issues faced by the Bitcoin network: Speed: Long Transaction Times Scalability: Frequent Network Congestion Centralization: Concentration of Mining Pools Litecoin was founded by former Google employee and Coinbase engineering director Charlie Lee, who decided to create a “lighter” version of Bitcoin that would allow for faster transactions and more scalability, along with lower transaction fees. Litecoin was built to use the Scrypt algorithm with a proof of work (PoW) consensus. Scrypt is more cost- and power-efficient, and accessible, than the SHA-256 algorithm used by Bitcoin. This makes it possible for regular consumers to use Scrypt to mine Litecoin, lowering the barrier to entry for miners and enhancing the decentralization of mining power. Litecoin Halving With Litecoin’s PoW mechanism, miners are rewarded with LTC when they complete a block. Similar to Bitcoin, the rewards for mining Litecoin decrease over time in a process known as halving. The following are the key dates for Litecoin rewards halving: August 25, 2015: From 50 LTC per block down to 25 LTC August 5, 2019: From 25 LTC per block down to 12.5 LTC August 23, 2023: From 12.5 LTC per block down to 6.25 LTC History of Litecoin Here are the key milestones achieved by the Litecoin team: 2011: Creation of Litecoin Charlie Lee forks Bitcoin, modifying Bitcoin’s code with several enhancements. 2013: Charlie Lee Joins Coinbase as Engineering Director Litecoin experiences positive price action, soaring by 10x from $3 to $30 when the news is released. 2017: Technological Advancement The adoption of SegWit and the Lightning Network layer further enhance Litecoin’s 2017: Controversy Charlie Lee sells all of his Litecoin holdings in December, coinciding with the time Litecoin peaks in price, undermining the faith of investors and creating speculation about Lee’s potential manipulation of Litecoin prices. However, Lee clarifies that he acted over concerns of his growing influence on Litecoin, which could lead to a conflict of interest. More details can be found Price History of Litecoin Here’s a timeline of Litecoin’s price action since its launch. 2011 Launched just two years after Bitcoin, Litecoin quickly gains followers and reaches a high of $0.30. 2013 In Q4, Litecoin experiences a price increase of 1,000%, reaching an all-time high of $44.53. 2014 – Mid 2017 After the euphoria of a 1,000% price increase, the price of Litecoin drops significantly over the next three years, trading below $5 and reaching a low of $1.38. Mid 2017 – End 2017 In April, Litecoin’s price finally manages to surpass the $5 mark and skyrockets to a high of $319.26 in December, an increase of over 6,000%. End 2017 – End 2020 The price surge is once again unsustained, and as the cryptocurrency market crashes in 2018, LTC’s price plunges to between $20 and $130 over the next two years with many cryptocurrencies experiencing the same fate. 2021 LTC manages to reach an all-time high of $345.30 in May 2021, breaking the previous high of the 2017 bull market. 2021 – Current Given the approaching bear market and poor macro conditions, the cryptocurrency market as a whole takes a beating, with LTC’s price also in a downturn since its all-time high. How Litecoin Remains a Top Crypto Even After a Decade Having existed for a decade, Litecoin’s valuation still remains within the top twenty cryptocurrencies in the market. As a matter of fact, with its recent surge in price, it’s managed to make its way to the top fifteen. There are still growth opportunities, given its technical potential and the leadership of Charlie Lee, who possesses great technical expertise. Following are some of the unique advantages effected by Litecoin that could potentially make LTC a good investment. Higher Scalability Litecoin generates blocks every two and a half minutes, which is four times faster than Bitcoin’s block mining time of ten minutes. As such, Litecoin’s network is able to achieve greater throughput. Faster Transaction Speed Litecoin has a transaction processing speed of 54 TPS, which is markedly higher than Bitcoin’s transaction processing speed of 5 TPS. Decentralization Scrypt is used to power Litecoin’s PoW consensus mechanism, giving the network a lower barrier to entry and allowing more individuals to participate in Litecoin mining. This contributes to the network’s decentralization, given that mining power is no longer concentrated among bigger players who can afford mining. Lower Transaction Fees Litecoin has a fee structure 1/50th the size of Bitcoin’s, which significantly reduces transaction costs. Privacy Function The Litecoin Improvement Proposal of November 2019 included the MWEB (Mimblewimble Extension Block) update, which would improve anonymity for both senders and receivers of transactions on Litecoin’s network.  Now, with the majority of nodes having given their permission, MWEB is finally available. Activated on May 19, 2022, this upgrade has brought substantial privacy feature enhancements to the Litecoin network. Transactions can be kept private while they’re getting verified. With MWEB, users can opt in as necessary to conduct private transactions, and transaction anonymity is guaranteed — so that the transaction amounts are only known to the sender and receiver. Moreover, MWEB is more comprehensive than its recently implemented privacy measures for Litecoin users alone. MWEB also makes significant advancements to blockchain operations. For instance, its cut-through capability assists in removing all unnecessary transaction data from blocks so that long transactions are condensed into a single one. In other words, the block only records one input-output pair, eliminating the need to record each input and output separately. This contributes to network efficiency. Widespread Usage 3,070 businesses accepted LTC as payment in January 2022, a relatively large number. Due to its quick adoption, Litecoin has become one of the most popular cryptocurrencies for investments with practical uses. The Litecoin Foundation asserted in January 2022 that Visa would permit owners to use the Litecoin Card to spend Litecoin. Coinbase, BitPay, NOWPayments, CoinGate, Alliant and CoinPayments are examples of cryptocurrency-native payment processors that accept Litecoin payments. Online retailers can accept Litecoin payments through e-commerce systems such as Shopify and WooCommerce. Good Traction In 2021 and 2022 the Litecoin team has hit multiple milestones. In 2021, Litecoin saw the introduction of the OmniLite token creation platform, which enables developers to build NFTs and construct their own bespoke cryptocurrencies on the network. Liteverse, the first NFT marketplace on the Litecoin network, was introduced in 2022. A Litecoin-based Lightning Network mobile wallet, as well as user-friendly MWEB-integrated mobile wallets, have also been announced by the developers. Given the abovementioned properties of Litecoin as a blockchain and the developments they’ve accomplished within the past two years, one can argue that Litecoin is indeed a cryptocurrency to invest in. Is Litecoin a Good Investment? Despite the pros of Litecoin as mentioned in the previous section, there still remains risks to investing in it. The privacy function mentioned above serves as a double-edged sword for Litecoin, having also attracted negative attention. Despite the excitement surrounding transaction confidentiality that Litecoin has introduced with Mimblewimble, problems have appeared on the regulatory front, particularly with regard to Know Your Customer (KYC) and anti-money laundering (AML) rules. On June 8, 2022, just a short while after Litecoin’s official launch of the MWEB protocol, five leading South Korean exchanges — Upbit, Bithumb, Coinone, Korbit, and GOPAX (now closed) — delisted Litecoin. Following the implementation of strict regulation and an outright ban on Dark coins by regulators in 2020, South Korean exchanges have avoided privacy-related cryptocurrencies. Should You Trade or Invest in Litecoin? You can choose to purchase Litecoin and keep it as an investment item in your wallet. If price changes are significant, owning this virtual currency will give you a chance to gain from capital appreciation. Holding Litecoin for an extended period may also pay off nicely as its price reaches new heights whenever Bitcoin soars. Otherwise, you can choose to trade Litecoin with either spot or derivatives trading, each of which can accommodate long and short positions. To learn whether investing or trading is better suited to you, check out our article here. How Much Should You Invest? The number one rule for all crypto investment is not to invest more than you can afford to lose. This applies whether you’re a beginning or advanced trader. Also, diversification is a well-known practice — such as investing no more than 10% of your portfolio in any altcoin. When applied to trading, the main rule is straightforward: Never trade more than 1% of your capital in a single transaction. Stick to this rule, and your funds will be protected.  Where to Trade or Invest in Litecoin You can buy Litecoin on most cryptocurrency exchanges to hold for an extended period. However, you can also trade perpetual contracts to speculate on LTC, with a predetermined price at a specified time in the future. For instance, Bybit offers both the LTC/USDT Spot pair and LTCUSDT Perpetual contracts. You can buy LTC with the USDT stablecoin via a Perpetual contract with leverage. Simply fund your verified account with USDT, or convert another cryptocurrency to USDT.  Be sure to also take advantage of Bybit’s ongoing zero fees campaign for all Spot pairs, and trade LTC/USDT without any fees. Sign up for a Bybit account now and start trading!   Closing Thoughts Overall, there are multiple factors that contribute to the value of Litecoin. Other than the faster, more scalable and decentralized design of the blockchain itself, Litecoin has also achieved significant traction with regard to adoption and usage.
The Bitcoin Price Movement Is In The Bullish Channel

Chinese stocks decreased as COVID situation worsens. Bitcoin struggles

Craig Erlam Craig Erlam 24.11.2022 16:25
Equity markets are making steady gains in Europe and Asia on Thursday, while Wall Street is closed for the Thanksgiving bank holiday. The day got off to a decent start as investors on this side of the pond played catch-up following the late rally in the US. All considered it hasn’t been the most lively of weeks but the FOMC minutes did ensure investors went into the Thanksgiving break on a bit of a high. A dovish boost before Thanksgiving The most notable takeaway from the minutes – which were never going to be game-changing – were the discrete references to the difference in support for slowing the pace of tightening now and those raising their estimates of the terminal rate. Clearly, the latter has much less support which means a lower rate hike is on the cards in December – probably 50 basis points – while a higher terminal rate is only a possibility and will depend on the data. While not ideal for investors, the net effect is undoubtedly less hawkish and that’s at least partly what drove that late rally. Read next: G7 work on a Russian oil price cap, gold has gained as dovish Fed signals spread through the market| FXMAG.COM Destructive lockdowns again for China? Record Covid cases in China, more testing and restrictions, and even possible lockdowns went some way towards undermining that positivity coming from the US in Asia on Thursday. Stocks in China slipped while Hong Kong underperformed its regional peers as investors weighed up the prospect of more growth-destructive lockdowns and uncertainty for the world’s second-largest economy. This comes as authorities sought to slightly ease the burden of Covid restrictions and support the property market, both of which are difficult if record case numbers force people indoors. Another disappointing manufacturing survey The plunge in Japan’s manufacturing PMI to a two-year low below 50 – which separates growth from contraction – perfectly highlights how challenging the current environment is around the world. Higher input costs combined with lower domestic and external demand is hammering the manufacturing sector and is likely to continue until inflation abates and growth bounces back. Navigating blind The Bank of Korea has become the latest central bank to jump aboard the “slower for longer” train, raising rates by 25 basis points while leaving the door wide open to further rates hikes. The decision to join the RBA and BoC, with the Fed likely not far behind, comes as the economic headwinds mount. The problem many now face is a result of acting late and aggressively. As rate moves come with a lag, policymakers are being forced to make decisions without full visibility of the impact recent moves have had. They must therefore decide when to slow the pace of tightening in order to avoid unnecessary economic hardship and deflation while inflation is still very high. It may work out in the end but there’s a big risk on both sides that it won’t. CBRT brings an end to its easing cycle I’m not sure that particular analogy works when describing the Turkish central bank. In this case, it’s more like driving a car in reverse while looking forwards in the hope you somehow make it home ok. The CBRT cut interest rates by another 150 basis points today, taking it back to 9% while declaring the end of its easing cycle. That comes as official inflation sits at 85.5% in October, despite various efforts to control the currency movements. A dead cat bounce? Bitcoin is in the green for a third day, albeit only just, as it continues to try and stabilize in the aftermath of the FTX collapse. The event was unsurprisingly a huge setback for the whole industry, both from a contagion perspective but also a reputational one. Traders are correctly now asking themselves who else is exposed, how big will the ripple effects be, and where else this kind of activity is taking place. In such an unregulated world, these fears are very real and could undermine faith in the crypto space for some time, further weighing on prices in the process. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A "dovish" boost - MarketPulseMarketPulse
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

Robert Kyosaki argues Bitcoin's link with FTX crash

InstaForex Analysis InstaForex Analysis 24.11.2022 16:54
  The bitcoin cryptocurrency has consolidated below the Fibonacci level of 127.2% ($18,500) and has yet to attempt to go back above this level. This only demonstrates that there are still no bulls in the market. Furthermore, since there are no bulls, there is currently no chance for bitcoin to grow. Now that bitcoin is "bottoming out" and "dead weight," we recommend talking about the overall context of the cryptocurrency market. In the past, we've argued that many self-proclaimed "experts" who frequently share their thoughts on bitcoin (even when they aren't asked) are investors. Such experts continue to amuse us with their predictions that "bitcoin is about to start a bullish trend and will soon cost a lot," considering that bitcoin must demonstrate growth, not decline, to ensure the profit of its investors. Such predictions from well-known, highly regarded individuals serve to encourage small traders to purchase cryptocurrencies, fueling their growth. All of these forecasts fall into two categories after analysis. The first ones at least have a time reference point that can be easily altered when the forecast is incorrect. The latter serves no sort of transient function. Because bitcoin will have time to fall much lower before it can theoretically reach the goal, the value of such a forecast is frequently reduced to zero. How many novice traders and investors are prepared to endure significant losses for one or two years? As a result, although bitcoin may cost $100,000 someday, it might only cost $6,000 in the interim.     One of these authorities is Robert Kiyosaki, who has been urging people to buy bitcoin for a very long time and predicts the complete collapse of the economy and traditional investment instruments. He also thinks that bitcoin has nothing to do with the collapse of the FTX cryptocurrency exchange. He claimed that FTX issues are unique to FTX and do not affect the entire cryptocurrency market, which we disagree with. However, the more these crashes occur, the lower bitcoin may fall as people's trust in cryptocurrencies continues to erode. Large investors may still be holding their coins, but there are other players in the market. The "bitcoin" quotes finally made a successful attempt to surpass the level of $18,500 in the 24-hour timeframe. The fall may continue now that we have a target of $12,426 in mind. As we previously stated, since the price was concurrently in a side channel, crossing the downward trend line does not signify the end of the "bearish" trend. The quotes may drop further as the lower channel limit has been reached. Relevance up to 15:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328064
Bitcoin Has Made A Dynamic And Aggressive Reversal

According to Peter Schiff, "bitcoin mania" is over

InstaForex Analysis InstaForex Analysis 24.11.2022 16:58
  The most crucial level of $18,500 and its "duplicate" level of $17,582 have both been overcome by bitcoin, as seen on the 4-hour TF. Thus, we now have all the technical justifications needed for the cryptocurrency to continue to decline. We have not noticed any new collapses, even though the fundamental background for bitcoin is still a failure. After another fall, bitcoin may remain flat for several weeks or even months, as we previously warned. In theory, this is what we are experiencing right now. The cryptocurrency has been trading between this level and the $17,200 level for the past two weeks after dropping to $15,600. So it won't surprise us if the flat continues in the near future. The existence of "crypto experts," whose aim is to maximize bitcoin pumping to maximize their profit from investing in it, was discussed in the previous article. On the other hand, another group of experts does not make any upbeat predictions because they do not own bitcoin and do not believe in it. Peter Schiff is one of them; he has frequently criticized the original cryptocurrency. This time, he claimed that two stablecoins, USDT and USDC, make up 80% of Ethereum, the second-largest cryptocurrency by market capitalization. The two stablecoins are each worth an estimated $100 billion, while the value of bitcoin is $300 billion. According to Peter, these two cryptocurrencies may soon surpass bitcoin in this indicator. Schiff claims that the "bitcoin mania" is over and that there has been a more than 50% drop in public interest in cryptocurrencies over the past year. Additionally, Schiff argued against tighter regulation of the cryptocurrency market. In his opinion, profit and loss are the best regulators for any sector of the economy, and there should be healthy competition for reputation in the industry. We partially concur with Schiff because, as it recently emerged, some significant players in the cryptocurrency market engage in overtly fraudulent activities. The FTX exchange filed for bankruptcy but could not do so while carrying on with such "schemes." Who claimed that other significant businesses and exchanges didn't act similarly?     In addition, stablecoins have all the features and benefits of traditional cryptocurrencies while backed by real money. Stablecoins' ability to be used as cryptocurrencies while also "flying" from side to side is why they have this advantage. The "bitcoin" quotes left the side channel they had been in for five months in the four-hour time frame. Since the fall has already passed both crucial levels of $18,500 and $17,582, we anticipate it to continue with a target of $12,426 in the medium term. Although trend channels and lines are no longer useful, the downward trend still exists. Although Bitcoin tries to float, the fundamental background frequently submerges it. Relevance up to 16:00 2022-11-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328066
Bitcoin Extends Rally, Microsoft & Tesla Will Report Earnings This Week

The biggest exchange, Binance, has revealed plans to establish a $1 billion fund to purchase assets for struggling businesses

InstaForex Analysis InstaForex Analysis 24.11.2022 23:08
After a brief recovery movement, Bitcoin is currently attempting to break through $16,500. Given the strategic significance of the $16,600–$17,000 range for further upward movement, the bulls must maintain upward momentum in the near term. Due to the size of the offer that formed in the $16,600–$17,000 range, a breakdown of the channel's boundaries could result in increased volatility and a strong movement in one of the directions. 950,000 addresses have acquired about 800,000 BTC over the last few weeks fluctuations in this range. Given this, the bulls will attempt to establish a foothold above $17k to secure support and continue the upward trend. However, the bears' pressure is only growing due to some institutions and miners caving in. Bitcoin Whales with balances between 10,000 and 100,000 sold or distributed more than 100,000 BTC over the last two days. Analysts at Glassnode also point out the continued debauchery of miner sentiment. Due to a significant sell-off, the overall balance of mining companies hit an 11-month low. Fundamental background The fundamental background keeps getting better in a challenging on-chain situation. The biggest exchange, Binance, has revealed plans to establish a $1 billion fund to purchase assets for struggling businesses. This significant event encourages investors to be upbeat and confident. Additionally, the Fed reports' release helped to persuade the market that the current monetary policy had reached a turning point. Authorities have determined that it is best to slow down the rate of rate increases. As a result, the likelihood of a rate increase of 50 basis points in December has risen to 75% in the futures market. The market can anticipate a wave of optimism and a recovery movement for the major cryptocurrencies if inflation statistics are positive by the end of November. However, the market psychology has yet to reach a turning point, so there is still a chance that BTC will continue to fall. USD/BTC Analysis Bitcoin has continued to rise after rebounding off the $15.5k support level. Although the price of the cryptocurrency has reached the $16.6k resistance level, the technical indicators on the daily chart suggest that the bullish trend may continue to strengthen.     The MACD is about to form a bullish pattern for the first time since early November, and the stochastic oscillator has formed and is executing a bullish intersection. This suggests that consumer confidence is rising and that there is a good chance that prices will rise even more. Results The fundamental backdrop and some technical signals suggest the likelihood of forming a local Bitcoin bottom. The total supply of "unprofitable" BTC has reached 20,272,000, according to Glassnode experts, which historically denotes the formation of a market bottom.     However, too many "dark horses" are available, and one of them could suddenly turn into a "black swan," reducing market capitalization. We're referring to Genesis, Gemini, Grayscale, and a few mining firms. Considering these elements and the market's turbulence, it is impossible to rule out further immersion despite the momentary thaw. Relevance up to 17:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328074
Chainlink Cryptocurrency Has The Potential To Rally

Chainlink Cryptocurrency Has The Potential To Rally

InstaForex Analysis InstaForex Analysis 25.11.2022 08:13
On the 4-hour chart the Chainlink Crypto currency appears to be forming Bullish Pitchfork Channel and this Cryptocurrency move harmonious in it, this indicates that the Buyers are starting to re-enter in this Cryptocurrency, it is confirmed by: 1. The upward Pitchfork channel. 2. The price movement is above the Moving Average which is dip upwards. 3. CCI has broken through three levels -100, 0, & 100 is now in the range of 0-100 levels. 4. There is a 123 Bullish Pattern. 5. Breakout from Ross Hook (RH). Based on those five facts above, Chainlink has the potential to rally until the level 7.19293 as the main target and The upper line of the Bullish Pitchfork channel is the second target, but before that, Chainlink also has the potential to be corrected to the downside to gain momentum for the upward rally where the level to be targeted and tested is at the level of 6.48294-6.29730. If this level area is strong enough to withstand the rate of downward correction, then Chainlink potentially return to rally upward. On the other hand, if the level of this area does not stop its decline, especially if the level of 6.42730 is exceeded, then all scenarios of an upward rally that have been described previously will become invalid. Relevance up to 02:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/114597
Bitcoin Maintains A Steady Bullish Potential

Russia's National Cryptocurrency Exchange Could Be Launched Under The Moscow Stock Exchange

InstaForex Analysis InstaForex Analysis 25.11.2022 09:51
Crypto Industry News: Russian lawmakers are working on amendments to launch a national cryptocurrency exchange. These efforts are supported by both the Ministry of Finance and the Central Bank of Russia, which have long had opposing views on the regulation of cryptocurrencies in the country. As reported by local media, members of the lower house of the Russian parliament, the Duma, were discussing changes to the country's cryptocurrency regulations "On Digital Financial Assets" with market stakeholders. Changes that would define the legal framework for a national stock exchange will first be presented to the central bank. Sergei Altukhov, a member of the Duma's Economic Policy Committee, emphasized the fiscal legitimacy of such measures: "It makes no sense to deny the existence of cryptocurrencies, the problem is that they circulate in a large stream outside of state regulation. That's billions of rubles of lost tax revenue to the federal budget." In June, the head of the Duma's Financial Market Committee, Anatoly Aksakov, suggested that Russia's national cryptocurrency exchange could be launched under the Moscow Stock Exchange, a "respected organization with long traditions." In September, the Moscow Stock Exchange prepared a draft law on behalf of the central bank to allow trading in digital financial assets. Earlier this month, a bill was submitted to the Duma that would legalize the mining and sale of mined cryptocurrencies. The act provides for the creation of a Russian platform for the sale of cryptocurrencies, but local miners will also be able to use foreign platforms. In the latter case, Russian currency controls and regulations would not apply to the transaction, but would have to be reported to the Russian tax authorities. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls bounce above the local trend line resistance, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $17,103. The momentum bounces from the extremely oversold market conditions as well and is currently positive, so the bounce might extend higher. Weekly Pivot Points: WR3 - $16,881 WR2 - $16,477 WR1 - $16,299 Weekly Pivot - $16,072 WS1 - $15,895 WS2 - $15,667 WS3 - $15,263 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302528
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

The News About The New MetaMask Privacy Policy | The Outlook Of Ethereum

InstaForex Analysis InstaForex Analysis 25.11.2022 09:55
Crypto Industry News: The company behind MetaMask, namely Consensys, has updated its privacy policy. As part of the new provisions, their popular wallet will collect the aforementioned IP addresses and addresses of their customers' ETH wallets from today when they perform transactions. Specifically, the update affects users who use Infura as a "Remote Procedure Call" (RPC) provider in MetaMask. Infura is an affiliate of Consensys and is the default RPC provider on all MetaMask wallets. What is very important - according to the published information, MetaMask users have the option to change the RPC from Infury to another provider - then their data will not be collected by Consensys. However, they will still be subject to any information collection policies of the new RPC provider of their choice. According to a statement from Consensys: "When you use Infury as your default RPC provider in MetaMask, Infura will collect your IP address and Ethereum wallet address when sending transactions. However, if you use your own Ethereum node or a third-party RPC provider with MetaMask, then neither Infura nor MetaMask will collect your IP address or Ethereum wallet addresses." The news about the new MetaMask privacy policy quickly spread around the web and caused a very just, collective indignation of Internet users. Technical Market Outlook: The Ethereum bulls has managed to break the trend line resistance, extend the bounce towards the level of $1,215 and are still moving higher. The intraday technical resistance is located at $1,231 and $1,1288. The momentum is moving away from the extremely oversold conditions on the H4 time frame chart, so the odds for a strong bounce continuation are high. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,198 WR2 - $1,151 WR1 - $1,143 Weekly Pivot - $1,125 WS1 - $1,110 WS2 - $1,092 WS3 - $1,059 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302530
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

DeFi's Integration With TradFi Is Still In The Early Stages

ByBit Analysis ByBit Analysis 25.11.2022 10:39
Since DeFi summer brought about the 2020 bull market, everyone anticipated “institutional adoption” to come to DeFi. Integration between TradFi and DeFi mainly happened on the trading front, where centralized exchanges became a middle ground for TradFi crypto adoption. Market makers and proprietary funds alike began executing carry and price arbitrage on centralized and decentralized venues. To accommodate billions of dollars of flow, key on-chain trading infrastructure projects were incubated and funded by these institutions. An example of such an infrastructure is Pyth, where 70+ institutional trading firms, with the likes of Jump Crypto and DRW Cumberland, publish price discovery and create market efficiency across different venues. The completion of decentralized infrastructure in financial trading allowed sophisticated trader flows to enter crypto native markets.  Looking past financial trading, there is a second type of institutional capital brewing in DeFi —  these are private credit funds that received traction after the centralized lenders imploded in May 2022. Before the liquidity crunch in May this year, centralized lending desks originated a phenomenal amount of crypto loans, for example, Celsius, Genesis, and BlockFi together issued $45.6 Billion of loans in Q1 2022. Main customers for these loans were institutional traders,  who were willing to pay 10%+ APY on daily liquidity.  Source: Genesis Investor Data With the fast de-leveraging of these centralized entities, there was a void of liquidity in the market and profitable crypto-native institutions turned to DeFi solutions to fill in the space. The market saw the rise of Orthogonal Credit, M11 Credit, and Blocktower Credit, which are credit funds that provide direct lending on venues such as Maple finance to market makers, e.g. Wintermute, Auros and Flow Traders, allowing them to draw USDC at 8.5-10% and draw wETH at 5-6%. Source: @scottincrypto, https://dune.com/scottincrypto/Maple-Deposits Asset management products have also moved on-chain, democratizing investment strategies that historically were only available to large institutional clients. Leveraging smart contracts and unique crypto-native non-linear yields, strategies such as DeFi Option Vaults (DOVs) saw breakout volumes in 2021, with $1 Billion in Total Value Locked (TVL) at its peak. Vaults like Ribbon Finance, Friktion, and Antimatter, provide simple UI/UX to allow retail investors to tap into vanilla option premiums. From underwriting out of money covered calls and vanilla puts, retail investors saw these option premiums reeling in 20 to 40% of returns at the time, which looked very competitive and more sustainable compared to incentive based yield farms. On the back of these retail underwriting, institutional options market makers would buy the entire vault of options and sell on exchanges such as Deribit which saw 90% of total crypto option flow at some point. Currently option vaults face lower volumes due to several reason: Underlying crypto assets have incurred large drawdowns and may continue to have large swings Yields have suppressed during lower volatility periods in the bear market. While DeFi volumes today depend on trading players whose health dictates how active DeFi is, a more balanced ecosystem would welcome players beyond traders, who can leverage the efficiency and transparency of this new paradigm. With the US Fed Funds target rate turning to 3.75 to 4.00%, the DeFi spread (the difference between DeFi borrowing rate and US treasury) has turned to -1.2%, which begs the question — Does it still make sense to invest DeFi capital in Compound’s cUSDC pools where yields are less than 2%? Where will DeFi capital go?  Source: St Louis Fed - https://fred.stlouisfed.org/series/DTB4WK, @tt_taylor https://dune.com/queries/30619/61723 With the above background and questions, this report will delve into the current development of DeFi’s real-world usage, difficulties that hinder such developments, and possibilities in DeFi’s integration with TradFi.  The first phase of DeFi arguably revolved around TradFi capital flows into DeFi, as well as how new capital is deployed to bring TradFi functions to DeFi, including exchanges, trading, lending, derivatives, payments, etc. So far, DeFi applications have been mainly used by crypto-native users. Unfortunately, due to an extended bear market, DeFi usage declined in the face of muted speculative activities. As a result, DeFi protocols turned their focus from retail investors to institutional investors and from crypto trading to tokenized real assets.  The next phase of DeFi seems to be for native DeFi protocols to add the support of real-world assets and enlist real-world players as DeFi users. In this section, we will dive deeper into how DeFi currently interacts with real-world assets. DeFi’s Real-World Lending  In order to expand its usage outside the crypto-native community, DeFi ventured into the traditional world of finance. DeFi’s real-world lending caters to institutional needs, for simplicity  DeFi’s real-world lending in this article only refers to DeFi protocols’ lending to real-world institutions, excluding lending to retail investors.  Top DeFi lending protocols, such as Aave and Compound, offer on-chain over-collateralized loans without the procedures of KYC and credit assessment. In contrast, real-world institutions that are sensitive to capital efficiency loathe over-collateralized loans due to lower leverage, leading to the emergence of DeFi protocols that lend solely to real-world players with under-collateralized or un-collateralized loans, such as Maple Finance.  Despite low capital efficiency, over-collateralized loans in DeFi have a role to play in real-world lending due to lower borrowing rates, with MakerDAO being the pioneer and leader. However, over-collateralized loans often only attract large financial institutions, such as banks, with premium assets as collaterals but not smaller-sized private credit firms. For example, without credit assessment, MakerDAO only charges 30 bps above 5-year treasury loans for its lending to syndicated loans managed by Huntingdon Valley Bank, which is low compared to around 140bps credit risk premium for high-quality bonds.  A Brief Timeline of DeFi’s Real-World Lending With the assistance of real-world asset pools on Centrifuge, MakerDAO ushered in real-world lending back in 2020 on the back of the approval of the proposal for the DAO to onboard off-chain real-world assets (RWA). On the other hand, uncollateralized institutional lending came to light with the launch of TrueFi in Nov 2020 and Maple Finance and Goldfinch in mid-2021. Stepping into 2022, as DeFi space reels from crypto winter, Clearpool, and Ribbon Lend, among other protocols that target institutional borrowing, continue to enter the space.  Collateralized Real-World Lending Source: https://makerburn.com/#/rundown (data as of Nov 16, 2022) The most prominent protocol with over-collateralized real-world lending is  MakerDAO. As of the time of writing, MakerDAO owns eight RWA pools with an outstanding supply of DAI to the tune of $336.7 million. Among them, four lending pools are based on RWA pools from Centrifuge, with collateral including loans to real estate investors, freight invoices, short-term trade receivables, and revenue-based financing assets. Another three lending pools are through a trust structure, with cooperation from 6s Capital, a fund that lends to real estate developers, Huntingdon Valley Bank (HVB), a bank located in the United States, and lastly, Societe Generale, a prominent French bank. The last RWA pool is made up of investments in a high-quality bond scheme with Monetalis to seek higher yields in TradFi.  Centrifuge plays a critical role in MakerDAO’s RWA ambition by tokenizing collateral assets. Investors are separated into two tranches, junior and senior tranches. The junior tranche is open to professional investors looking for higher returns but comes with higher default risks. The RWA pools on Centrifuge cover industries such as real estate bridge loans and fintech debt financing, among others.  While most end borrowers may be linked with real-world usage, the largest RWA pools are Monetalis and the HVB pool, representing 89.3% of the total RWA pools’ DAI supply as of the time of writing, suggesting that Centrifuge-connected pools are a minority among RWA pools.  Moreover, large RWA pools on MakerDAO in connection with Centrifuge were launched in 2020 or early 2021. As uncollateralized lending protocols gained traction in late 2021, MakerDAO lost its luster due to lower leverage from over-collateralized loans, while small borrowers flocked to under-collateralized lending platforms. It is important to note that the supply of DAI on RWA accounts for a small fraction of the total DAI supply, approximately 5.4% as of the time of writing. However, with continuous investments in treasury yields, the RWA proportion is likely to rise in the foreseeable future. All in all, despite early-stage developments, MakerDAO’s RWA scheme has set a great example for the integration of TradFi and DeFi. Not only do real-world players borrow on the platform, but MakerDAO, sitting with more than 3 billion PSM reserves in USDC, has started to seek yields from traditional assets. As we mentioned at the beginning of this article, TradFi capital used to flow into DeFi for higher yields. With treasury interest rates hiking and DeFi yields shrinking, it is natural that DeFi capital flows back to TradFi, ushering in a new era of TradFi-DeFi integration. Under Collateralized Lending Source: rwa.xyz (data as of Nov 16, 2022) Real-world assets collateralized by DeFi institutional lendings are mainly private credits. As of the time of writing, there are active loans amounting to $359 million with an average APY of 11.47% that offer on-chain loans to real-world borrowers. The top real-world borrowers are from fields such as fintech, real estate, and carbon projects, among others.  Under Collateralised Lending Protocols TVL (USD) Loan Value Outstanding (USD) Lenders Maple Finance 296.3m 279m Private credit firms, Crypto market makers TrueFi 38.94m 15.14m Market makers, private credit firms Clearpool 23.8m 7.5m Market makers Goldfinch 20m 5.2m Private credit, asset-based loans Ribbon Lend 28.5 28.5m Market makers Source: Dune Analytics@blakewest; Protocol Websites (data as of Nov 14, 2022) Maple Finance is the leader that offers under-collateralized lending from DeFi to real-world borrowers, with the highest TVL at around $136.2 million. Uncollateralized lending on DeFi targets institutional investors, both crypto-native and real-world players. After rigorous KYC and credit assessment, institutional investors can create a pool on Maple Finance, TrueFi, and ClearPool for borrowing from DeFi users.  However, these under-collateralized lending platforms may not directly serve real-world borrowers. Crypto market makers form a large portion of borrowing demand on TrueFi and ClearPool, which strictly do not qualify as real-world borrowers. On the other hand, Goldfinch, which promotes itself as a true lender to developing countries for real yields, integrates better with real-world players and may continue to drive value to the platforms. The Emergence of Credix Credix is a new institutional lending protocol launched this year on Solana, with a similar model to Goldfinch, connecting global capital to Latin American Fintech borrowers. Credix sets itself apart from the previously mentioned institutional lending protocol by underwriting over-collateralized loans themselves, lowering the default risks for liquidity pool investors while offering an attractive yield.  Synthetic Assets (Tokenized Real-World Assets) Moving the trading of real-world assets on-chain is another way to expand DeFi’s real-world usage. The possible real-world assets include equities, currencies (FX), commodities, and complex derivatives, among others. Synthetix, a popular synthetic trading DeFi platform, offers derivative tokens, dubbed synths, to trade crypto and FX, mainly USD, EUR, and INR, while Gains Network includes trading pairs of crypto, FX, and equities. Tokenizing real-world assets lays the foundation for real-world users to trade traditional assets with no intermediaries. At this juncture, tokenized equities might not attract users due to a series of issues, such as dividend distribution and asset custody. However, DeFi might play a role in facilitating cheaper trading of FX pairs for real-world users, as traditional banks charge high spread costs for retail users. Furthermore, FX volatilities amidst the U.S. monetary tightening cycle leave currencies from developed and emerging countries volatile. FX trading on DeFi enables users to hedge or trade their home currencies with minimal spreads to prevent wealth reduction from currency depreciation. As a highlight, USD/JPY and GBP/USD registered over 232 million and $103 million trading volume in the past 30 days on gTrade, representing around 12.6% and 5.6%, respectively, suggesting a blooming FX trading on DeFi platforms. In Summary While we have seen the adoption of trading and lending DeFi protocols with real-world players, DeFi's integration with TradFi is still in the early stages. DeFi categories other than trading and lending have not seen the same level of integration with TradFi. As such, we will look into what disconnects DeFi from TradFi in the following section. Drawing parallels to traditional financial services, institutional services can fall into the following four categories: trading, lending, investment products, and transaction banking. So far, trading and lending have found the most product market fit in decentralized finance; the appetite for integration seems to be slower in other corners of financial services, and it is worth looking into the roadblocks preventing further integration. Regulation Crypto regulation today remains at rudimentary levels, where most countries’ governing bodies only have concrete guidelines around Anti Money Laundering (AML) practices. As of today, this rudimentary level of regulation has allowed big banks such as JPMorgan to use public blockchain e.g. Polygon as a settlement layer to enhance transparency and efficiency. These trials using a sandboxed environment, albeit exciting steps towards more DeFi adoption, are more of a feature (fractional reserve) in commercial transaction banking than integration of the capital markets. Lack of regulation is preventing TradFi players from using decentralized venues for sourcing and deploying capital. Few countries have more sophisticated regulations regarding crypto investments, for example:  Crypto transactions compliant with OFAC sanctions (US) Requirements as a decentralization organization (Gibraltar) Accreditation of individual investors (US/Dubai/Singapore)  One current solution to the regulatory barriers is Securitize, a KYC layer that allows off-chain real-world assets to accept DeFi capital from compliant investors. The platform has been in the headlines for tokenizing KKR’s healthcare fund, which is one of the first examples of adoption from large private equity players. The platform not only checks whether the investor complies with AML and OFAC requirements, but it also checks whether an investor is fit to participate in the offered investment-grade products. In the US, an accredited investor must have $1 million of net worth, at least $200,000 of income for the past two years, or financial practitioner licenses such as Series 7, 82, 65. This approach is a hybrid approach to DeFi and may be seen as a compromise that might have trouble convincing both traditional institutions and DeFi native players to adopt it. Crypto native KYC solutions using zero-knowledge, such as zkPass, could be the beginning of the end-game for the regulatory dilemma.  Security Often seen as the double-edged sword of DeFi, vulnerable smart contracts have continuously been targeted by malicious hackers and pose the largest inherent risk in the industry. 2022 saw a total of $3 billion stolen from different attacks, where October alone took $718 million from the system across 11 hacks. Reportedly, white hat hackers have been working through a record-high backlog of hack analysis and mitigation. Common vulnerabilities include:  Oracle manipulation Re-entrancy attack Front end, bridge, and other weaknesses. While web3 development has attracted 10x interest since 2018, most of the investment in security has focused on ensuring protocols and their later updates are audited and trusted by their users. With the explosion of new protocols in DeFi, top auditing firms are known to have congested sales pipelines. However, once smart contracts are deployed, there is a lack of investment for on-chain activity monitoring and post-attack retrieval of funds. An example is when DFX – an FX DeFi protocol – was recently hacked, the team was only able to react 20 to 30 minutes after the hack had been detected. The scale of re-investment into security is very different from TradFi and CeFi players, who take an active engagement model spending billions on cyber security budgets.  For active mitigation near real-time, smaller crypto native players like Hackless (a previous EthLisbon hackathon winner) have been monitoring mempools to detect unusual on-chain behaviors, sandwiching malicious transactions, and migrating funds to a safe haven. For post-breach remediation, investigative firms such as Chainalysis (invested by GIC, Blackstone, BNY Mellon) and TRM Labs (invested by Goldman Sachs, Citi, Amex, and Paypal) both launched an incident response division this year to serve institutional clients. The effort tries to to recover the funds by tracking down transaction trails, e.g., Nomad bridge hack and Slope Wallet compromise. Scalable pre-deployment auditing, real-time attack mitigation, and post-breach investigation are the three key areas of development essential for integration with large TradFi institutions. Product Diversity DeFi yields come from validator rewards, lending, and trading rewards such as LP tokens, as well as more “degen” liquidity incentivisation rewards (many of those are battling downward token price pressure in the long term). Through this year’s two large liquidity crunches - some yields have stayed resilient, especially in validator rewards where liquid staking yields for ETH have returned to 10%.  Such resilience in crypto native network yields can provide more comfort for institutional capital to enter the space. However, there is still not enough yield-generating assets on-chain for institutional appetite, and the negative DeFi spread presents an unique timing to examine what are the challenges to bring real-world assets on-chain.  The biggest bottlenecks to bringing more real world assets on-chain are asset origination and real-time data oracles. Firstly, real world asset yield opportunities have not seen a lack of US dollar liquidity since quantitative easing began in March 2009, and hence there was little incentive to cross both regulatory and security hurdles to be on the blockchain. Simply put, capital was cheap, it did not make sense for good quality real world assets to seek on-chain funding even in stablecoins. This phenomenon has only started to change recently, when the Fed started reversing the size of its balance sheet this year. While on-chain liquidity is seeing tightening post-FTX blowup, real-world assets will continue to increase their interest in crypto funding if negative DeFi spread persists.  Secondly, origination for more diverse assets is highly dependent on access to and integration with good quality real world assets. These deals require more integrated oracle infrastructure to improve off-chain data feeds with on-chain execution, which require consensus from stakeholders on what data is required in each of the DeFi applications. Some ideas are data for the underlying real world asset, the inner workings of the deal terms that may include deterministic payouts,  as well as state feeds for collateral and credit assessments e.g. proof of reserve. Interestingly, proof of reserve recently became more widely adopted as industry standard as centralized exchanges such as Bybit are collectively restoring trust in the crypto industry.  Source: Chainlink, https://blog.chain.link/low-latency-oracle-solution/ Despite the current state of DeFi’s real-world functionalities on a global and macro scale, we believe there is more room for integration between the two spaces. Tokenized Risk-Free Rate As DeFi yields have ground lower, global yields have been rising against the restrictive monetary policy from major central banks. As a result, seeking yields from government or corporate bonds for DeFi protocols might be a rational maneuver. As government bonds remain largely inaccessible to most retail investors, tokenizing risk-free investments such as government bonds may attract users to invest cash in the blockchain.  In addition, when: (1) higher yields from under-collateralized lending that pay for credit risks and (2) yields from liquidity provision that factor in impairment loss are excluded, the real yield from USDC lending offered by lending protocols such as Aave is only at 0.31% as of the time of writing. In comparison, 3-month and 6-month U.S. government treasury yields are at 4.16% and 4.53%, respectively, remarkably surpassing the yields on Aave.  As such, DeFi protocols that purchase U.S. treasury bonds in secondary markets for asset tokenization might attract users to their platforms with higher yields. That being said, there are legal and regulatory challenges ahead, but the trend of asset tokenization in DeFis continues to grow.  Increase In Traction for Institutional Lending  Uncollateralized institutional lending offers a significantly higher rate than collateralized protocols such as Aave. Goldfinch, for example, offers yield for its senior tranche at over 13% APY, project by project, with 8% interest payments in USDC and 5% in GFI, its native token. The higher yield may attract capital amidst plunging DeFi yields.  Despite plunging TVL and outstanding debt, Credix, an institutional lending protocol newly launched in June, continues to close new partnerships, such as the upcoming $150 million pool launch with Clave, an Argentinian fintech company, indicating demand for real-world lending from Latin America. What’s more, Maple Finance’s new pool that targets embattled Bitcoin miners has received overwhelming applications, further speaking of massive potential from institutional lending. The popularity of Maple Finance for miners reinforces that traditional corporate finance has leaned toward quality and large-scale firms while embattled small firms are not taken care of. As such, the institutional lending market has great potential by serving real-world players, which might attract new protocols to innovate in this space. That said, the design of under-collateralized institutional lending has its drawbacks, including off-chain diligence and low default protection. As a highlight, native tokens staked dropped in value upon borrowers’ defaults, leading to low coverage from defaulted loans. Great Potential From CDP’s RWA Expansion Over-collateralized lending may serve real-world players due to its low yield, as mentioned earlier. High yields from uncollateralized lending target small to medium firms, while collateralized lending with lower borrowing rate serves financial institutions or investment managers which hold premium assets. At this juncture, more DeFi protocols aspire to issue their stablecoin, including GHO from Aave and Curve’s impending stablecoin. GHO’s business model is closer to the one of MakerDAO and might launch RWA modules as Aave’s business model continues to evolve. Moving forward, more financial institutions like JP Morgan will try out blockchain technology. The CDP protocols, such as MakerDAO, as one of the most established DeFi categories, in our view, may attract them to experiment first. Saving Costs With the Help of Blockchain Source: IMF Traditional financial institutions can reduce operational costs by leveraging DeFi technology. Based on the IMF's report, compared to traditional financial institutions, DeFi has significantly lower labor costs, with smart contracts governing on-chain transactions and validators performing verification and record retention. Traditional finance, which is profit-driven, can simply leverage blockchain technology to save labor costs and further boost its profits.  As such, DeFi protocols that help onboard traditional financial institutions to blockchains will thrive. An example is Quant Network, which gains traction by connecting traditional financial institutions with multiple distributed ledger networks. In Summary As insolvency events continue to steal the limelight, DeFi has taken a hit from plunging TVL and user exodus. However, the long-term secular trend that DeFi will drive value from real-world integration is unstoppable. We have shared our thoughts on how and why further integration between TradFi and DeFi can and should occur, and more possibilities await for industry players to explore. In our view, the next DeFi Summer will come from deepening integration between DeFi and TradFi. 
Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

Two Estonian Citizens Accused Of Committing A $575 Million Cryptocurrency Scam

InstaForex Analysis InstaForex Analysis 25.11.2022 13:53
The US Department of Justice reports that two Estonian citizens have been detained in Tallinn, Estonia, based on an 18-count indictment that accuses them of taking part in a conspiracy to launder money and commit cryptocurrency fraud worth $575 million. The 37-year-olds Sergey Potapenko and Ivan Turygin are accused of defrauding hundreds of thousands of victims through a complex scheme in which they encouraged their victims to sign false equipment lease agreements with HashFlare, a cryptocurrency mining service, according to the ministry's statement. The Justice Department claimed that they also forced victims to invest in Polybius Bank, a virtual currency bank that was not a bank and never paid the promised dividends. The agency claims that the victims who suffered losses paid more than $575 million to Potapenko and Turygin's businesses. Both used shell companies to launder the fraud proceeds and buy luxury goods like real estate and automobiles. According to Kenneth Polite Jr., assistant attorney general for the Department of Justice's Criminal Division, "the size and scope of the alleged scheme are truly astounding." "The United States and Estonia authorities are working to seize, restrict, and profit from these crimes." The agency claims that at least 75 real estate items, thousands of cryptocurrency mining devices, thousands of cryptocurrency wallets, six high-end vehicles, and the money laundering conspiracy were all allegedly involved. The FBI looked into the situation.       Relevance up to 11:00 2022-11-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328164
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

ApeCoin DAO with its own NFT marketplace. Magin Eden x Polygon integration

Crypto.com Accelerate the... Crypto.com Accelerate the... 25.11.2022 16:20
X2Y2 will enforce creator-set royalties for all NFTs. ApeCoin DAO has launched its own NFT marketplace. Magic Eden integrates with Polygon to develop blockchain games. New Project Spotlight NFT Collectibles [COMING SOON] “Weird People Genesis” features NFT airdrops and sticker sets by Buba Viedma, an illustrator and graphic designer from Madrid. This collection drops on 6 December, exclusively on Crypto.com NFT. [COMING SOON] In Ari Hersch’s “Apes Of Anarchy Vs The Degens”, the artist brings viewers on an adrenaline-charged initiation into the world of crypto motorcycle clubs. Featuring two rival clans, the Apes of Anarchy and the Degens, this collection will drop on Crypto.com NFT on 9 December. Blockchain Games [LIVE] CroSkulls generated a total weekly trading volume of 8.72 million CRO, with the top EvoSkull sale fetching 16,000 CRO. [LIVE] The CronosVerse hosted one of the first metaverse parties on the Cronos Chain on 19 November. The party featured live game support, musical performances, mini-games, and a PvP competition. NFT Metrics The following table shows select top creators (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea CryptoPunks $5,087,000(+22%) $78,600 OpenSea Bored Ape Yacht Club $4,099,000(-37%) $77,200 Crypto.com NFT Loaded Lions $154,000(+4%) $1,700 Minted VVS Miner Mole $47,000(-62%) $260 Minted Argonauts $33,000(+97%) $90 Crypto.com NFT Cyber Cubs $15,000(-60%) $200 Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 256K(-1%) $12K Trickshot Blitz Flow 53K(-18%) $25K Planet IX Polygon 47K(+84%) $566K Tiny World BNB Chain 43K(+2%) $74K Era7: Game of Truth BNB Chain 43K(+13%) $47K Source: DappRadar Gaming Performance The total market cap for gaming tokens now stands at US$5.75 billion, down -14% from last week.     News Highlights NFT marketplace X2Y2 will enforce creator-set royalties for both existing projects and newly-launched ones. On Twitter, X2Y2 also praised OpenSea for taking a stand on creator royalties. ApeCoin DAO, a community-led governing organisation composed of ApeCoin holders, has launched its own NFT marketplace. The marketplace lists NFTs from Yuga Labs-owned collections. Unique features of the marketplace include ApeCoin staking, NFT metadata integrations, as well as lower fees for sellers. Magic Eden is integrating with the Polygon network to accelerate the development of blockchain-based games. Several game development companies, such as BORA by Kakao Games, Intella X, and BoomLand, are set to debut on its Polygon Launchpad in December. Recent Research Reports     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags BLOCKCHAIN GAMING CRYPTO RESEARCH CRYPTOCURRENCIES NFT Source: crypto.com
Franc Records 11th Consecutive Daily Decline Against the Dollar as US Economic Concerns Mount

More effects of FTX crash could show up

Craig Erlam Craig Erlam 25.11.2022 16:32
We’re seeing subdued trading at the end of the week, with the absence of the US leaving markets lacking any notable direction. This isn’t really unusual and at the end of the week too, it really makes sense. Barring a flurry of big headlines from elsewhere, we could now see equity markets just drift into the weekend with investors already having an eye on next week. Read next: The ECB Members Remained Concerned About Inflation Becoming Entrenched| FXMAG.COM Perhaps today people are trading in their charts for some Black Friday deals, the outcome of which will certainly be on everyone’s radar. Going into the holiday season, we’ll get an early idea of the state of play for household spending in the midst of a cost-of-living crisis. Of course, it will naturally be difficult to distinguish how much of that bargain hunting will prove to be holiday season shopping brought forward in an attempt to get the “best deals”. But if Black Friday shopping takes a hit this year, it won’t bode well for the rest of the holiday period which is so important to retailers. PBOC cuts the RRR The PBOC cut the RRR by 25 basis points this morning in a bid to support the economy which is once more going through a difficult period. How effective that will prove to be when cities are seeing restrictions and effective lockdowns reimposed is hard to say. But combined with other measures to boost the property market and ease Covid curbs, the cut could be supportive over the medium term when growth remains highly uncertain. Bitcoin still extremely vulnerable Bitcoin is edging lower again today after recording three days of gains. That dragged it off the lows but didn’t really carry it that far from them. It’s trying to stabilize around the $15,500-$17,000 region and weather the storm but I’m not sure it will be that easy. There’s likely more to come from the FTX collapse and the contagion effects, not to mention potentially other scandals that could be uncovered. This may continue to make crypto traders very nervous and leave the foundations supporting price extremely shaky. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Black Friday lull - MarketPulseMarketPulse
The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

The Analysis Of Off-Chain Metrics Allows Cryptocurrency Supporters To Count On A Reversal

InstaForex Analysis InstaForex Analysis 26.11.2022 12:52
The cryptocurrency market has historically been cyclical. Cycles were formed around Bitcoin halving. Halving occurs every time 210,000 blocks are mined. It happens about every four years. The most recent halvings occurred in 2012, 2016 and 2020. In between halvings, the bull market is replaced by a bear market. Given the transparent nature of most blockchain networks, it is possible to look at the on-chain data to identify patterns and similarities between the current period and previous cycles. Bearish Cycle Bottoming Indicators On-chain analysts, based on data from Glassnode, are looking at several potential bear market bottom signals. One metric is the supply profit and loss range, which shows the total supply of BTC in both profit and loss. The values represent unrealized profit and loss since the data tracks the value of the price at the time the coins were acquired through trading or mining. The lines showing the dynamics of these two indicators recently converged for the fifth time in the history of BTC. Previous events of this nature have occurred during bear markets near the cycle's lowest point. The previous such convergence occurred in May 2020 during the global market crash due to COVID-19. In addition to the black swan that the coronavirus pandemic has become, convergence occurred in 2012, 2014 and 2019. Although the coincidences lasted from six months to a year, every time the price of Bitcoin recovered, it hit an all-time high for three years. Supply P&L bands are not a guaranteed bear market bottom indicator, but while history doesn't always repeat itself, it often plays out in a similar fashion. Long-term and short-term MVRV MVRV is a metric related to the ratio between realized and market capitalization of bitcoins. MVRV takes into account only positions with a maturity of at least 155 days and serves as an indicator for evaluating the behavior of long-term investors. Like supply and loss bands, long-term holders' MVRV fell lower than short-term holders on only five occasions. The periods are almost identical to the supply schedules that have appeared during each of the past bear markets and market crashes due to COVID-19. Positions of short-term holders The total number of bitcoins held by short-term holders has surpassed three million coins since cycle lows. Short-term holders are often the most sensitive to price volatility, and the number of coins they hold is historically low at the beginning of the cycle. There have been cases in history when the supply of short-term holders has reached similar levels. However, unlike other indicators, this has happened six times since 2011. Four of the cases are consistent with the other data described above, and in addition to these, short-term holder positions bottomed out in 2016 and 2021. In recent weeks, one off-chain bear market bottom signal has also emerged. When Bitcoin fell from its all-time highs in the past, the point at which the mainstream publications declared "the crypto market is dead" was notoriously the bottom of the market. Major publications declared Bitcoin dead 90 times in 2018 and 125 times in 2017. Currently, the cryptocurrency has only received 22 obituaries in 2022, so we are far from a market reversal signal if this observation is to be believed. Three more reasons to recover But not only the analysis of off-chain metrics allows cryptocurrency supporters to count on a reversal. Whether it's due to macroeconomic changes or just plain old bitcoin price cycles, three new reasons are being cited for why the major cryptocurrency could turn bullish from current values near two-year lows. First in line is a theory involving a macromarket catalyst, courtesy of macro economist Henrik Zeberg. In one of his latest tweets, he claims that Bitcoin still behaves like other risky assets, but specifically "not like gold." The FTX scandal has weakened the correlation between BTC and stocks. However, there is no reason to dismiss the idea that this relationship will return. Zeberg reminds that the tide lifts all boats, and if a rally in the risk asset area starts, it could send BTCUSD over $100,000. According to another popular crypto trader, Alan Tardigrade, now is the time to pay attention to the weekly BTCUSD chart, which showed a 20-week bullish divergence. This indicates a weakening of the momentum of the downward trend, which means that BTC may start an upward rally. This upward movement corresponds to Bitcoin's behavior after the COVID-19 market crash in March 2020. Back to crypto-centric triggers and on-balance volume (OBV) is one of the indicators that gives an idea of possible bullish times. OBV acts as a cumulative measure of buy and sell pressure by maintaining a running tally of volume across a given time period. It is similar to the cumulative volume delta, but includes more than just buying and selling trades. The OBV is now showing a bullish divergence as well, causing a wave of interest in bitcoin analyst circles. Bitcoin trader and technical analyst Mags draws attention to another important phenomenon. He notes that the RSI for BTCUSD is now showing a bullish divergence on the weekly timeframes that has never happened before, even at previous bear market lows. "Every Bull Market Peak $BTC formed a bearish divergence on RSI followed by a bear market correction! This the first time ever BTC is printing a bullish divergence on weekly," he stressed. Relevance up to 14:00 2022-11-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328195
Stablecoins Could Be Used As A Way Of Storing Capital

Bitgert (BRISE) Chain And All What You Need To Know About This Crypto Platform

ByBit Analysis ByBit Analysis 27.11.2022 19:15
Among the myriad blockchain projects launched over the past few years, Bitgert (BRISE) is certainly an attention magnet, due to its bold claims of zero fees and excellent scalability as well as some controversy surrounding the project. In this article, we take a closer look at a blockchain and cryptocurrency that either seems poised to challenge the dominant market players — or harbors the possibility of being a money-sucking fraud. What Is Bitgert (BRISE) Chain? Bitgert (BRISE) is a crypto platform that aims to provide an affordable and highly scalable environment for projects of various kinds — e.g., NFT, metaverse, web3 and decentralized finance (DeFi). Bitgert was originally launched as an app on BNB Chain in July 2021. Initially, the project was called Bitrise, with its native token bearing the ticker BRISE. In December 2021, Bitrise rebranded to Bitgert. The rebranding didn’t affect the token or its ticker, and the platform’s operations remain on BNB Chain. In February 2022, Bitgert launched its own blockchain network, which utilizes a proof of authority (PoA) validation mechanism. The new network is commonly referred to as Bitgert Chain or Brise Chain. Bitgert Chain advertises itself as a platform with zero gas fees and the technical capacity to process up to 100,000 transactions per second (TPS). This places Bitgert close to the top of the rankings by speed among blockchains. Indeed, among the currently operational chains, only Aptos features a faster maximum TPS. Top Blockchains by Maximum Transactions per Second (TPS) Capacity Although Bitgert promotes itself as a “zero gas fee” chain, in reality, there are some, albeit tiny, transaction fees involved in using the blockchain. Typical gas fees on Bitgert Chain are small fractions of a cent. Bitgert supports smart contracts and is an Ethereum virtual machine (EVM) compatible chain, which ensures a great level of interoperability with the world’s largest smart contract platform — the Ethereum blockchain. What Is BRISE? BRISE is Bitgert Chain’s native cryptocurrency. Originally, BRISE was launched as a token on BNB Chain when Bitgert, then known as Bitrise, was an app based on that chain. The project still maintains an address on BNB Chain for the token. When Bitgert Chain was launched, BRISE was issued on it as the chain’s native crypto coin. Bitgert has initiated a buyback mechanism under which it buys the BNB BRISE tokens and burns them. BNB Chain charges 12% for each token sale. The buyback program is likely driven by the project team’s intent to eventually replace the entire supply of the BNB-based BRISE with the BRISE natively issued on Bitgert Chain. BRISE’s main uses include staking and payment of Bitgert’s minuscule gas fees. It may also be used within decentralized apps (DApps) linked to the platform. For example, Bitgert’s own decentralized exchange (DEX) uses BRISE as one of the cryptos available for swaps. Staking BRISE is possible via BNB Chain and Bitgert Chain. In both cases, you can earn BUSD rewards for staking your BRISE. Staking is available for fixed periods of 30, 60, 90 and 180 days. The longer your stake, the higher the annual percentage yield (APY) rate you earn. The current APY rates (as of November 19, 2022) are shown below. BRISE Staking APY Rates Data source: Bitgert.finance While the principal staked amount is locked for the selected staking period, accrued interest rewards may be harvested at any time. A great feature of the platform’s staking rules is the absence of any minimum staking requirements, i.e., you may start staking with the smallest of amounts. BRISE has a max supply of 1,000,000,000,000,000 (1 quadrillion). This gargantuan supply number does sound extreme, though it should be noted that as of November 24, 2022, BRISE is worth only $0.00000032 per unit, giving it a market cap of around $127.86 million. BRISE’s supply distribution shares have been specified by the project team as follows: 50% — Initial Burn 38% — Liquidity 7% — Future Development and Marketing 5% — Developer Team Bitgert’s recommended wallet is Nabox, a multi-chain wallet featuring support for a large number of blockchain platforms. Meanwhile, Brise Wallet, the native wallet developed by the Bitgert project team, has fully transitioned to Nabox since November 12, 2022. Bitgert Key Features Since its launch as a fully-fledged blockchain, the Bitgert project has added a limited number of features, services and apps to expand its operations. Among the platform’s key offerings is Bitgert Startup Studio, a project designed to help promising crypto startups raise investor capital on Bitgert through smart contract–driven token sales. The DEX on Bitgert may also be used for token swaps, with ten cryptos — BRISE, BNB and another eight tokens based on BNB Chain — currently supported. Bitgert Chain is still a small blockchain with a rudimentary ecosystem. In order to link the Bitgert ecosystem with other larger blockchain environments, the project team is in the process of developing their own bridging app. In the meantime, platform users are advised to use the following bridges that support BRISE: Multichain Bridge, IcecreamSwap Bridge and Sphynx Bridge. Bitgert: Potential Red Flags The claims of (near) zero fees and speeds of up to 100,000 TPS were bound to attract the attention of blockchain analysts and investors. At the end of the day, with such stellar parameters, Bitgert is destined to become a leading blockchain network, isn’t it? Unfortunately, some of the project’s characteristics unambiguously raise red flags. There’s a great deal of online controversy and speculation concerning Bitgert at the moment, primarily related to the Bitgert founders’ identities, audits on the platform, and charity announcements made by the project team. Bitgert Founders More than a year after the project’s birth on BNB — and nine months after the launch of Bitgert Chain — we still don’t know the true identities of Bitgert’s founders. There’s been speculation in some online sources that the team behind the project uses Artificial Intelligence (AI) software to fake their identities. Bitgert’s website previously featured an Our Team page, with names that couldn’t be cross-referenced on LinkedIn. The page has now been removed from the website. Amid the controversy, the person(s) behind Bitgert have stubbornly refused to reveal their identities, despite this point being one of the most damaging issues for the project’s reputation and brand image. The founder(s) still regularly appear in the project’s online communications and various publications, and are referred to as “the Bitgert founder.” Bitgert Audits Another controversial point involves Bitgert’s platform audits. Audits have become a commonly used tool in the crypto industry to ascertain a blockchain platform’s transparency, and to rule out any malicious code in its smart contracts. Bitgert did conduct an audit, and has widely promoted its 98% achieved score. However, it quickly became obvious that the audit was carried out by the Bitgert team themselves. This raised further suspicion about the platform’s operations. Bitgert Charity In addition to the disquieting controversies above, Bitgert has also claimed plans to contribute to an unspecified charitable cause. However, neither the actual charity involved nor any other specific details have been released by the project. BRISE Cryptocurrency and On-Chain Services Another vague point in the project’s communication material relates to BRISE and the on-chain services offered on Bitgert Chain. Most of the functionality promoted by the platform, e.g., staking and token swaps, seems to be based on the BNB blockchain. It remains unclear to what degree Bitgert Chain’s apps make use of the actual Bitgert Chain and its native crypto coin. Some online observers have opined that the platform’s widely promoted own chain and crypto coin remain virtually unused, with nearly all of the promoted functionality being based on BNB Chain and the BNB-based BRISE token. For instance, the leading crypto data portals (such as CoinGecko.com and CoinMarketCap.com) only have details such as prices, supply numbers and contract addresses for the BRISE token on BNB Chain, while data on the Bitgert Chain’s BRISE coin is markedly absent. Bitgert Price Prediction The BRISE token was launched in July 2021 at a minuscule price point of around $0.000000008 (that is, $8 for one billion BRISE). The token’s price experienced few changes until October 2021, when it began to rapidly rise, eventually climbing to an all-time high of $0.00000184 ($1,840 per one billion BRISE) in early March 2022. Within the period covering this rise, in February 2022 Bitgert announced the launch of its own chain and crypto coin. However, leading price tracking portals have yet to add Bitgert Chain’s BRISE coin to their websites. By mid-June 2022, the BRISE token’s value had declined to $0.00000029 ($290 per one billion BRISE), remaining relatively stable until August. As Bitgert celebrated six months since the launch of its own blockchain, details about the controversies surrounding the project started to attract wider public attention. Against the backdrop of increasing online notoriety, Bitgert doubled down on its marketing and promotional activities to project an image of a legitimate crypto with great potential. It seems that these efforts did have a considerably positive effect on BRISE, with the token’s price rising to $0.0000012 ($1,200 per one billion BRISE) by the end of August. This spike was short-lived, however, with BRISE’s price trending downward from early September. As of November 24, 2022, the token trades at $0.00000032 ($320 per one billion BRISE), and is still trending down. Source: CoinGecko.com Despite the controversies surrounding the project, Brise price predictions on the leading crypto forecasting portals points to moderate long-term growth for the token. DigitalCoinPrice.com expects BRISE to reach $0.00000127 by 2025 and $0.00000455 by 2030. Meanwhile, PricePrediction forecasts that BRISE will grow to $0.00000115 by 2025 and $0.00000708 by 2030. Final Thoughts If Bitgert is a legitimate project, its near-zero transaction fees and outstanding TPS capacity might help it to eventually challenge the leading blockchains in the industry. However, there remains too much controversy and suspicion linked to it. For now, the BRISE token seems to have weathered this controversy well with the recent spikes. However, these were of a very short-term nature. Some observers believe that the spikes might have been the beginning stage of the notorious pump and dump cycle typical of so many failed cryptocurrencies. Ultimately, your appetite for risk — and possibly thrill — will determine if the BRISE token, the current king of controversy, is worth your attention.   Source: What Is Bitgert: Next Big Thing, or a Scam? | Bybit Learn    
Bitcoin Is Showing A Good Sign That Buyers Are In Control

What coins worth a watch in the week ahead? ByBit highlights Ripple, LINK and CRV

ByBit Analysis ByBit Analysis 27.11.2022 19:18
News Round-Up for the Week FTX Account Drainer Swap ETH for BTC   After days of swapping funds withdrawn from FTX to ETH, the purported “FTX Account Drainer” is now swapping for BTC holdings with its ETH stack, exerting selling pressure on the price of ETH. Find out more here.   Genesis Warns of Possible Bankruptcy   After suspending the services of its lending arm last week, Genesis Global Capital saw its fund-raising efforts rendered moot as one of the companies it approached decided not to invest on the grounds of a potential conflict of interest, according to WSJ’s report. Find out more here.   El Salvador Paves the Way for Full Crypto Adoption   BTC’s recent abysmal spot price actions did not put a dent in the resolution of the El Salvadoran government to continue its foray into digital currencies. Find out more here.   New Proposal to Cover Debt on AAVE   DeFi management platforms Llama and Gauntlet have submitted a governance proposal on Aave to cover a $1.6 million bad debt brought on by a publicized short attempt on Tuesday. Find out more here.   Ethereum Core Developers Back EIP-4844   Ethereum developers are working towards including EIP-4844, a highly-anticipated scaling proposal, in a future mainnet upgrade, according to the latest Ethereum core developer meeting. Find out more here.         Bybit x NGC: DeFi Meets TradFi — The Integration and Challenges Faced   This week, we explore the integration between DeFi and TradFi.   As DeFi reels in from an extended bear market, TVL and user activities have plunged remarkably from their peaks. There are voices that DeFi’s real-world usage may help drag DeFi out of the woods.    Read more details here as we look into the state of integration, challenges faced, and possible forms of integration in the future.   On-Chain Round-Up for the Week   The market-moving narrative that captures the spotlight this week still revolves around whether the Federal Reserve could slow down the tempo of rate hikes after weighing existing economic and financial conditions against the impact of inflation. The FOMC minutes released on Wednesday signaled that many officials back a moderation in the near term, as they lean towards a 50-bps raise in December. US stocks entered the Thanksgiving holiday after notching gains for the third straight day, while the dollar weakened.     The broader crypto market had a turbulent start this week, with a weekend sell-off extending to Monday following the FTX drainer’s massive ETH dump. However, major cryptocurrencies bounced back after RSI reached oversold zones and have since been largely range-bound, with BTC holding a stronger footing above the $16k handle and ETH struggling to defend the $1,100 threshold.      On-chain metrics indicate that BTC long-term holders are losing convictions as they grapple with the FTX collapse. This is evidenced by a series of notable and sustained upticks in old coins (aged 6 months and above). A total of 254k old coins, accounting for 1.3% of the circulating supply, has been spent since the start of the FTX debacle. This represents the steepest decline in the supply of older coins since the last bull run in January 2021. That said, part of the coins spent may be related to the sales of BTC from the 2014 hack of the exchange Mt. Gox.     The whale cohort (those with more than 1k BTC holdings) is also submerged underwater. The average withdrawal price since 2017, indicated by the yellow line, is now above the current spot price, suggesting that this cohort of smart money and seasoned investors are also at an unrealized loss.      Meanwhile, the short-term holder MVRV has surpassed that of the long-term holders for the first time in the current cycle, hinting that direction traders are beginning to do better than holders, whose convictions have started to wane. If history is any indication, the crossover usually marks a potential bottom formation in past cycles. Of course, the current market conditions are a lot more volatile, and the signal warrants further scrutiny.      Macro events to look out for in the coming week    Nov 28, 2022 US GDP report  Skey Network Box premiere  Nov 29, 2022  Canada GDP growth rate  Nov 30, 2022 China NBS Manufacturing/Non-Manufacturing PMI EU inflation rate  Ari10 Airdrop  Dec 1, 2022  Japan Consumer Confidence  Theta Mainnet 4.0 Launch  Dec 2, 2022 US Unemployment rate & Non-Farm Payrolls    Three coins to watch   Token Reason  CRV Curve Finance recently released a whitepaper on its upcoming stablecoin. At the center of its mechanism is a novel lending-liquidating AMM that seeks to tackle the exposure to bad debt facing current CDP stablecoins and prevent positions from being liquidated. The novel mechanism may attract traders who are previously disheartened by CDP stablecoins and hopefully draw in more liquidity that will, in turn, boost the price actions of CRV.  LINK Chainlink recently saw a whopping 250% spike in the number of Verifiable Random Function (VRF) requests over the past week, suggesting strong demand for Chainlink’s data services. From the technical perspective, a rare bullish convergence emerges on the RSI chart for LINK, which may point to a potential trend reversal.  XRP The lawsuit between Ripple and the SEC is still the main driver behind the major price actions of XRP. A recent development may mark a step closer to settlement, which may lift the burden that has been weighing down the valuation for XRP, if not provide some tailwinds to the embattled token. Source: Bybit Blog | This Week in Crypto: Multiple Indicators Show BTC Whales Capitulates; Genesis Warns of Possible Bankruptcy
ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

ByBit talks Grayscale Bitcoin Trust. How Does GBTC work?

ByBit Analysis ByBit Analysis 27.11.2022 19:30
Grayscale® Bitcoin Trust (GBTC), an investment trust that’s traded on the stock market, is a great option for individuals, companies and institutions unfamiliar with the crypto world who want to invest in Bitcoin without directly managing it. But is it a good investment option for everyone else? Are you missing out if you haven’t invested in it yet? Are there drawbacks that might deter some people from buying Grayscale? In this article, we’ll answer these questions and more. What Is Grayscale Bitcoin Trust? Source: Grayscale.com Grayscale Bitcoin Trust (GBTC) is the world's largest Bitcoin fund. It’s also the first-ever publicly traded trust that has a digital currency as its underlying value. If you don’t know what that is, here’s a quick rundown. Trusts and funds on public stock exchanges have an underlying asset that dictates their value. These assets are mostly stocks in publicly traded companies. The price of the trust or fund fluctuates based on the underlying net asset value (NAV), which is affected by the asset’s demand. An investor can buy a portion of the asset by purchasing shares in the fund. Since GBTC is a cryptocurrency trust, you can buy its shares through your brokerage account. In doing so, you indirectly buy Bitcoin — avoiding the hassle of purchasing BTC through a crypto exchange. This means that you’re relying on Grayscale to buy and hold Bitcoin for you as a third party. So the actual BTC is stored in the Grayscale institutional trust, and its retail index is traded on either the open or over-the-counter market. GBTC is similar to a crypto exchange-traded fund (ETF), as it pools investors’ funds to invest in Bitcoin and charges investors a management fee for investing in the fund. How Does the GBTC Investment Vehicle Compare to a Bitcoin ETF? Essentially, a Bitcoin ETF, such as the Purpose Bitcoin ETF, is a competitor of GBTC. That’s because ETFs track the market data or value of the underlying asset much more closely than a trust. Hence, the market price per Bitcoin ETF share is relatively close to the actual value of BTC. But that’s not the case with shares of GTBC, because the trust charges a 2% management fee and sometimes also a premium. That significantly increases the price of a GBTC share as compared to the market price of BTC while spot buying, or while buying shares of a Bitcoin ETF. However, there are currently only Bitcoin futures ETFs in the market. GBTC is proposing to be approved as a Bitcoin spot ETF, which may be a better product than Bitcoin futures ETFs — as spot Bitcoin ETFs track the market even more closely than Bitcoin futures ETFs. How Grayscale Bitcoin Trust (GBTC) Works Grayscale Bitcoin Trust gathers money, usually U.S. dollars (USD), from institutional investors and uses that to buy BTC directly. These BTC are stored in the Grayscale fund, which essentially makes the Grayscale institution — rather than its investors — the actual owners of BTC. You can then buy shares of GBTC and indirectly own BTC. Ever since Grayscale became a publicly traded fund in 2015, various investors have poured a lot of cash into GBTC by buying Grayscale stocks during bull market cycles. Grayscale has used that capital to buy more and more BTC. Now, it’s accumulated over 643,572 bitcoins, which is around $10.12 billion in assets as of the time of this writing (November 22, 2022). Source: BuyBitcoinWorldWide.com   To put that number into perspective, Tesla holds approximately 10,725 bitcoins and Ukraine holds about 46,000 BTC. Source: BuyBitcoinWorldWide.com What Are Premiums and Discounts on GBTC Shares? When you buy or sell GBTC shares, the trust doesn’t immediately buy or sell BTC with your investment. That’s where the concepts of premium and discount come into play, which are essential to learn about if you want to understand how GBTC works. Suppose the Grayscale trust has about 500,000 BTC, which are all bought by shareholders. Then five investors come in, and each buys 1,000 BTC worth of GBTC shares. Those purchases will raise the overall value of the trust by increasing the number of BTC held by GBTC investors as compared to the number of bitcoins owned by Grayscale as an institution. That’s because GBTC doesn’t immediately use the new investment to buy 5,000 more BTC. This means that there’s a greater demand for GBTC shares than the supply of BTC. In such a case, the trust will add a premium to BTC’s value. Anyone who wants to buy GBTC shares will then have to pay that premium on top of the share value. Similarly, if a bunch of investors sell their GBTC shares, the new investors will get a discount. This fluctuation means that you have to buy BTC at a different price than what you’ll get by buying directly from exchanges. That’s why GBTC share prices aren’t the same as the actual value of BTC. Finally, you can only buy or sell GBTC shares during the opening hours of the stock market, unlike BTC spot buying and selling, which you can do at any time. Pros and Cons of Grayscale Bitcoin Trust (GBTC) To help you decide whether or not to invest in the Grayscale Bitcoin Trust, let’s look at its pros and cons. Pros Some advantages of buying GBTC stocks over owning Bitcoin directly include: 1. More Security in Cold Storage Crypto exchanges and wallets are vulnerable to hackers and scams. GTBC charges a management fee for keeping their BTC secure in cold storage, which is safe from hacks. 2. Regular Audits of the Bitcoin Investment Trust The Grayscale Bitcoin Trust files audited reports with the securities and exchange commission (SEC) to prove that it has the BTC that investors have paid for. That’s an advantage over crypto exchanges, which have the potential to scam people. An example of one such scam is the QuadrigaCX exchange scandal of 2019. 3. Tax Advantages Investors can get tax breaks when they buy GBTC shares through tax-advantaged accounts, such as a 401(k) or an IRA. It’s also easier for investors to file taxes for publicly traded stocks of a trust that’s approved by the SEC. Cons Some drawbacks of owning GBTC stock are as follows: 1. Not Suitable for Smaller Investors GBTC charges a 2% annual fee. On top of that, you have to pay a premium to buy shares when demand is high. It’s not a good fit for smaller investors, because you need a minimum investment of $50,000 to buy into Grayscale Bitcoin Trust. 2. You Never Actually Own Any BTC You can never redeem your shares for actual BTC because the Grayscale trust owns the private keys to the BTC in your shares. 3. The Ever-increasing Performance Gap The value of a GBTC share hasn’t been growing at the same rate as its underlying asset. Even if you don’t have to pay a premium, you still won’t earn as much profit by buying shares as you will by owning Bitcoin directly. From 2020 to 2021, GBTC’s share price increased by approximately 220% in value while BTC surged by nearly 340%. 4. Refusal to Share Proof of Reserves On November 19, 2022, Grayscale stated that it would not be sharing its proof of reserves (PoR) with its customers due to security concerns, despite the global panic over the FTX implosion. This refusal has sparked public furor over the company's future. Is Grayscale Bitcoin Trust a Good Investment? GBTC isn’t a good investment option because the value of GBTC shares doesn’t accurately match the value of Bitcoin. Its shares have been trading at a discount since early March 2021, and they’re now trading at a record low 45.08% discount to Bitcoin’s net asset value. Source: YCharts So if you buy GBTC shares today, you’ll get fewer BTC than what you’ll get through spot buying for the same amount of USD. Investing in GBTC doesn’t give you voting rights on protocols, because you don’t own the private keys to the BTC in your shares. Also, transactions occurring on the trust are censored by government agencies — which defeats the original purpose of a decentralized digital currency. Perhaps in the future, if the shares start trading at a premium again, then Grayscale will be a good option for accredited investors who can purchase GBTC shares at the NAV price. Buying GBTC vs. Buying Bitcoin Volatility is unavoidable whether you’re buying BTC directly or on the open market through GBTC. Whenever lawmakers release new rules about regulating crypto, or deny a crypto ETF request, GBTC’s share prices take a bigger nose dive than Bitcoin’s market price. Also, since you don’t own the BTC in your GBTC shares, you can’t use it. If you want to actually use Bitcoin and save on management fees, then you’re better off buying BTC directly. Buy BTC at zero fees on Bybit now   Closing Thoughts GBTC has always been a viable option for only a small group of wealthy investors. Moreover, it not only faces hurdles in becoming a spot Bitcoin ETF, but has also faced serious criticism over its refusal to share its proof of reserves. Given these risks in investing with GBTC, it may be cheaper and safer for retail investors to own Bitcoin directly, despite the current volatility of the crypto market. Source: Grayscale Bitcoin Trust (GBTC): All You Need to Know | Bybit Learn
Binance Academy summarise year 2022 featuring The Merge, FTX and more

ByBit talks TON Wallet - what is it? How does TON Wallet work?

ByBit Analysis ByBit Analysis 27.11.2022 19:35
An increasing number of developers, companies and entrepreneurs are entering the crypto industry in an attempt to bring something new to its markets. One such company is Telegram, which offers a cloud-based instant messaging service and has launched a crypto project known as Toncoin. While Toncoin has been on the market for over two years, more and more crypto investors are interested in this coin, as well as the TON Wallet that the platform offers. This guide explains everything you need to know about the TON Wallet and whether it's safe to use. What Is Toncoin? Toncoin is part of the TON network. It’s the native token for the network itself. TON was designed with scalability in mind to effectively accommodate several billion users. TON refers to "The Open Network," which is a fully decentralized Layer 1 blockchain. The different layers of a blockchain represent the architecture on which it’s built. The expansive nature of TON is accomplished via blockchain sharding, which involves the use of numerous blockchains housed on the same network. Each blockchain has its own purpose, which could be anything from governance to recording transactions.  Since the entire workload is spread out through multiple chains, there's never a situation in which a single chain must handle sizable backlogs of blocks that have yet to be verified. The Ethereum network is also expected to use this technique in the months to come. TON is based on a proof of stake (PoS) consensus mechanism, whereby validators verify transactions through staking. This mechanism is much more energy-efficient than proof of work (PoW). Toncoin also boasts ultrafast transactions, has flexible architecture and provides low transaction fees. What Is TON Wallet? TON Wallet is a noncustodial software program that provides crypto investors with a place to store TON tokens on the TON blockchain. Once your TON Wallet has been created, you can receive and send tokens while also interacting with easy-to-use apps. Since TON Wallet is noncustodial, no one but you has the ability to use it, which is perfect for users who prefer having total control over their crypto assets and want to interact with other easy-to-use apps.  TON also offers a built-in custodial wallet on their platform, which can be accessed via the @wallet Telegram bot. This means that Telegram will handle all of your storage needs as you invest or trade with the assets you’re storing in your wallet. How Does TON Wallet Work? TON Wallet has two essential components for its users: A seed phrase and a wallet address. The seed phrase is a type of password that consists of 12 separate keywords. Recovering your wallet requires you to progress through the seed phrase login stage. The use of a seed phrase ensures that your wallet is safe and secure on the TON network. A wallet address is a series of alphanumeric characters that allow you to send your crypto assets to your TON wallet. Coins can also be sent to your wallet with the TON wallet address that you provide. In order to better understand how TON wallets work and the flexible architecture on which they're based, view your TON wallet as a bank account. Your wallet address is your account number, and the seed phrase is your password. The main difference between your traditional bank account and a TON wallet is that other individuals have your personal information when you create a bank account. TON Wallet allows users to remain anonymous. All transactions to and from the wallet take place with an alphanumerically encoded address. As mentioned, TON boasts ultrafast transactions, so that purchases or sales you make from your TON Wallet can be completed without delay. With the Telegram app’s wallet feature, you can purchase and send Toncoin. You can also use these coins to pay for different services and apps in the TON ecosystem. In addition, if you'd like to take part in TON's governance program, your assets can be used to vote on changes to the platform as well as development goals. You'll also have some control over how the platform progresses. Since TON is known as a PoS network, all validator fees are paid in Toncoin. Transactions are highly affordable, which isn't the case with some platforms, such as Ethereum. Toncoin swaps come with fees of less than $0.05. How to Create a TON Wallet on Desktop To create a new TON wallet on a desktop, you can select a Linux wallet, MacOS wallet, Windows wallet, web browser wallet or Google Chrome extension. Regardless of the wallet you choose, transaction fees are low. Step 1: Navigate to https://ton.app/wallets. Step 2: Select your preferred wallet. You’ll notice a description below each wallet’s name, which tells you which browser or operating system the wallet is compatible with. Step 3: Once you've selected your preferred wallet, you can read a lengthier description of the wallet and what it does. From here, click on Open. The next steps depend on the type of wallet you create. For a Google Chrome plugin, you'll need to add the extension to your browser, after which you can continue creating your wallet. The creation process is actually simple and straightforward. When you click Create Wallet, you'll be given a seed phrase that will allow you to recover your wallet if it's ever lost. How to Create a TON Wallet on Mobile You can also choose to create a TON wallet on your mobile device. The process for doing so can differ somewhat, depending on the type of smartphone you use. Step 1: Navigate to https://ton.app/wallets from your mobile device. Step 2: Select the mobile wallet that’s compatible with your mobile device. You’ll notice a description below each wallet’s name that tells you which device the wallet is compatible with. Step 3: Once you've selected a compatible wallet, you can read a lengthier description of the wallet and what it does. From here, click on Open. Doing so will direct you to the respective Toncoin Google Play Store and Toncoin Apple App Store pages for you to download the app on your mobile device. Step 4: Follow the instructions on the app after you’ve downloaded it to create your TON Wallet. How to Use Your TON Wallet Once you've created a TON Wallet and have set up your password, the new wallet will be ready for you to use. If you want to add funds to your wallet, all you need to do is select the Receive Grams button. You can then input your wallet address, or create an invoice link that you can send to people if you want to receive payments. Make sure that you set the exact amount you'd like to receive, after which you can request a QR code that details your invoice information. As touched upon earlier, it's possible to use your wallet to send and receive Toncoin. Additionally, your wallet can be used to interact with apps that are present on the TON network. Is TON Wallet Safe? If you want to be certain that your assets are safe, and that you control every aspect of how these assets are used, you might want to opt for a noncustodial wallet to give you confidence that your wallet is safe. On the TON Wallets website linked above, you'll notice blue checkmarks beside a dozen different TON-compatible wallets, including the official TON Wallet. These options have been verified directly by the TON team, which means they’re perfectly safe to use. Keep in mind that Toncoin is a legitimate coin with an actual purpose. Because of the open network on which Toncoin is based, it scales well and provides users with low transaction fees, two key features that make future growth more likely. The Bottom Line TON is an open network that boasts ultrafast transactions, easy-to-use apps and flexible architecture. When you invest in Toncoin, you can use your TON Wallet to send and receive Toncoin as you see fit. The steps above are an easy guide to help you create a TON Wallet on your preferred device or operating system. Source: What Is TON Wallet & How Does It Work? | Bybit Learn
FieryTrading talks Solana (SOL) - November 28th

Cryptocurrency: Solend explained by ByBit - "The platform’s main goal is to decentralize lending."

ByBit Analysis ByBit Analysis 27.11.2022 19:43
Since its launch, Solend has been garnering the market’s attention. An algorithmic, decentralized protocol for lending and borrowing built on Solana, Solend opened gateways for Solana users to increase the methods they can employ to profit from the market. With prominent investors such as Dragonfly Capital, Polychain Capital, Balaji Srinivasan and many others, Solend gained remarkable traction, achieving $100 million in deposits just over a month after launch, achieved even prior to liquidity mining opportunities.  In late June 2022, Solend once again grabbed the front page of several financial news sites. However, this time the reasons weren’t as favorable. Concerns regarding the liquidation of a whale account on Solend left Solana users panic-stricken about a potential major crash, sparking intense discussions. Recent developments around FTX, the troubled centralized exchange, have also had an impact on Solend. In this article, we’ll explore what Solend is, how a major crash almost occurred, and the impact it’s suffered from FTX’s downfall. What Is Solend? Solend is a decentralized finance (DeFi) lending platform built on the Solana network. It allows users to borrow or lend assets, using an algorithmic method to determine interest rates and collateral amounts.  The Solend protocol was first launched in August of 2021. At that time, Solana’s popularity was increasing due to its speedy transactions and low fees. The addition of a lending protocol to the Solana ecosystem attracted a lot of market interest. Users can now earn higher returns than before. How Does Solend Work? Solend starts with a fairly basic premise: Users can deposit assets to their Solend accounts to earn interest. They can also use these deposits as collateral to take out loans. The platform’s main goal is to decentralize lending.  Borrowers don’t need to take out a formal long-term loan, or justify their need for it. Instead, the platform enables them to take short-term loans with simpler deposits and no lengthy underwriting process. Smart contracts automatically assign lending limits and collect interest. In order to use Solend, users need to have a Solana wallet. The SOL crypto asset is the backbone of this Solana-based lending protocol. Users can move to different denominations if they want, but SOL is the native currency for the platform. Solend has various "pools" of available crypto assets that operate with different currencies. For example, the Stable Pool lets users lend or borrow cryptos like USDC and USDT, while the Main Pool lets users work with all 20 of the crypto assets the platform currently supports. Once users have their Solana wallet connected to the lending platform and they’ve added SOL to their account, they can begin borrowing or lending various types of crypto. The Supply option lets users look at how much interest they can earn, while the Borrow option tells users how much they can borrow with their current crypto stake. Each loan that users take has a liquidation threshold. If crypto values alter in a way that causes the loan to cross the liquidation threshold, users’ assets can be liquidated. The funds then go to the lenders as collateral for the loan. Key Features of Solend There are many other similar DeFi lending platforms, such as Compound and Aave, but Solend’s Solana-based lending protocol has some special features that set it apart. Low Transaction Fees Many users find Solend helpful for investing because it has low transaction fees. You can quickly borrow and sell crypto without getting hit with excessive transaction fees. Most of the platform's fees are just protocol fees you pay with each loan. These fees contribute to an insurance fund for the platform.  Typically, the fee is set at around 10 bips, though it can vary slightly depending on which vault you use. There are also fees you pay for any Solana network transactions. The first time you interact with the network, you pay a 0.01 SOL fee. Then, for every subsequent transaction, you pay a low fee of around 0.000005 SOL. These fees are much cheaper than transaction fees on most other sites. Increased Scalability and Connectivity Unlike many other lending platforms, Solend prioritizes scalability. It doesn't require users to stick with one type of crypto, or conduct only low-level transactions. Users can leverage a wide range of crypto assets, with more being added to the platform regularly. You can choose from a variety of cryptocurrencies, such as native coins, stablecoins and meme coins, so there’s certainly a lot of versatility. Good User Experience Despite Solend’s many features, its network isn't confusing to use. One of its most impressive aspects is its streamlined dashboard. Well-organized and visually pleasing, it’s intuitive to use. Most people can get started without requiring extensive tutorials, or confusing statistics that can cause investors to make errors. Referral Program A lot of Solend's success may be linked to its referral program, which the network launched so that current users can encourage others to sign up through a referral link. The original user receives a small financial bonus when a new user participates. Right now, the financial incentive is set to 20% of each loan's origination fee. Risks of Using Solend Though the platform has some great perks, using it also comes with some potential problems. Before investing in any Solend strategies, there are a few risks you need to be aware of. Oracle Risk Solend’s liquidations are powered by the price feeds of Pyth Network and Switchboard. These oracles may report incorrect prices, causing wrongful liquidations to occur. Smart Contract Risk Given that Solend is an algorithmic, decentralized protocol, the crux of its operating system lies in smart contracts that facilitate the borrowing and lending of crypto assets. However, like any other type of software, these contracts can be a point of vulnerability. They could, for instance, potentially be exploited to steal or permanently freeze funds.  Note that such risk is inherent to all smart contracts. Despite the fact that this risk cannot be fully eliminated, there are some methods and steps taken to mitigate it: Rigorous Audit Solend’s smart contract has undergone a code audit by Kudelski Group, an independent security firm. Bug Bounty Program Solend has incorporated a bug bounty program, which pays up to $1 million if a user identifies a critical vulnerability in the code. This incentivizes responsible disclosure instead of hacking. Treasury Solend’s treasury of $20 million can be used as insurance for the Main Pool, should any exploits or hacks cause any of the protocol’s funds to be lost. 100% Utilization Risk  Solend's lending protocol only works when users are depositing crypto assets for others to borrow. If there are no crypto assets left in the pool — which would be the case should 100% of the crypto asset be lent out — any future withdrawal or borrowing becomes impossible. This is called 100% utilization, and it can occasionally be an issue. This problem is resolved as long as users pay back their loans, or more users supply crypto assets to the pool.  Liquidation Risk Solend offers over-collateralized loans, meaning that each loan the platform offers must be backed by collateral that’s worth more than the loan itself. However, collateral value is constantly shifting.  If your collateral's value drops, asset LTVs may determine that your loan is below the threshold. At this point, you can either add more collateral or let your existing collateral be liquidated. However, liquidating your position incurs a penalty. If you aren't paying close attention to your loans and investments, there's a chance you could end up accidentally losing your loan — and having to pay the liquidation costs. Bad Debt Risk People who lend on Solend’s platform may potentially run into situations where their loans cannot be covered. This can happen during large-scale liquidations or periods of market turmoil. When a lot of assets are liquidated at once, their worth may not be enough to cover the user’s loans, resulting in a negative balance known as bad debt that can harm the lender.  To manage this risk, Solend uses isolated pools to isolate newer or riskier crypto assets. These pools are used to screen crypto assets that have less liquidity and higher volatility, which creates an exploitable opportunity and is deemed a risk for the main pool. In addition, deposit limits and collateralization ratios are also managed for this group of crypto assets. Any bad debt created is filled via the insurance fund. However, this insurance fund is topped up by transaction fees, a source which isn’t limitless and can potentially run out. SLND Tokenomics Source: Solend Allocated to Percentage Allocation Liquidity Mining 30% Treasury 25% Team 25% Investors 15% IDO 5% Tough 2022 for Solend In 2022 alone, Solend has faced multiple tough situations, partly due to the volatile market conditions and the fallout from big institutions failing, which has caused various crypto assets to suffer in price. Here are the three main issues that Solend has had to deal with. Solend’s Oracle Exploit On November 2, 2022, Solend was struck by an oracle exploit, resulting in $1.26 million in bad debt. Three of its pools — Stable, Coin98 and Kamino USDH — were affected, since the exploit revolved around the Hubble stablecoin (USDH). As a result, these three pools have been disabled, and the exploiter’s address has been made known to exchanges. FTX’s Downfall and Its Impact on Solend The current downfall of FTX, the giant CEX, has thrown the market into turmoil. Given that the Solana ecosystem had close ties with Sam Bankman-Fried (SBF), the founder of FTX, the total value locked (TVL) of the DeFi ecosystem has taken a beating, partly attributed to the free-falling price of SOL. There’s also been an impact on Solend, which had a TVL of over $280 million on November 2 and has since dropped all the way down to $28 million at the time of this writing (Nov. 23, 2022). This is a result of users withdrawing from the protocol, as well as the decreasing price of SOL. In addition, Solend was faced with an issue pertaining to the liquidation of a whale account. An unidentified whale who had borrowed $44 million against $51 million worth of SOL had to be liquidated, due to the drop in value of SOL collateral. However, on-chain SOL liquidity had taken a huge beating when the price plummeted 43% in 48 hours, and Solend had difficulties liquidating the whale’s account. In an attempt to attract depositors and incentivize borrowers to repay their loans, thereby improving liquidity, the team at Solend tried to resolve this situation by raising the interest rate on SOL to more than 2,500%. In addition, they also created a Binance account to process the SOL liquidations, since the SOL liquidity was deeper on Binance as compared to the Solana chain itself. Despite the commendable efforts from the Solend team, which expedited the liquidation of the whale account, Solend now sits with a bad debt of $6.5 million. As Soju, Head of Business Development at Solend, wrote in Solend’s Discord channel, “It’s looking very bad now” as the situation had yet to be fully resolved. The Near Crash of Solend Prior to FTX’s downfall, Solend had encountered difficulties with regard to another whale liquidation in late June 2022. This particular incident took the DeFi space by storm, was intensely discussed by the Crypto Twitter community and appeared in news stories. What Happened One of Solend's key vulnerabilities is that users join together to create a lending pool. This can lead to problems when a single borrower, called a whale, has an outsized presence within the Solana-based lending protocol. The June crash involved a whale borrower who had an outstanding loan of $108 million worth of USDC and USDT. The borrower's stablecoin loan was backed by $170 million worth of SOL in their Solana wallet. The whale's loan was the largest single-user loan on Solend, taking up a huge portion of the lending pool. This was fine — as long as SOL prices were high. However, when SOL prices started tanking around June 15, this huge loan became a problem. SOL prices were dropping to $27, so the whale's loan was quickly approaching its liquidating threshold. Solend’s Developers Try Notifying the Whale When Solend's developers noticed this issue, their first plan was to notify the lender of the impending liquidation. At this point, another one of the platform's vulnerabilities became apparent: Solend is entirely anonymous, so there’s no way to contact a user — outside of sending a message to their account. Unfortunately for the developers, the whale wasn't checking the messages sent to their own account. If SOL's price were to reach $22.30 without the whale taking any action, their collateral would have to be liquidated, resulting in over $21 million of SOL being dumped at one time. Users feared a serious amount of fallout for the market. Though SOL is a fairly robust blockchain, with a market cap of around $11 billion, such a huge sale would have caused its value to tank even further. It was a race against time, with the group desperately trying to notify the lender before the liquidation was set in motion. After private methods of contact failed, they turned to the internet. The developers posted on Reddit and Twitter, begging the borrower to contact them. They even sent an on-chain transaction with a memo, asking the whale to talk to them about the issue. Of course, making the issue public caused further problems. Users were spooked and started to pull their funds, resulting in fewer tokens in the pool and more funds being frozen. Eventually, Solend was able to use an intermediary to contact the whale and get them to add more collateral to their account. However, before this took place, the platform had been seeking other solutions. They ended up enacting their first decentralized autonomous organization (DAO) vote. This essentially required users to join together and vote on proposed solutions to the problem as described below. Proposal 1: SLND1 — Mitigate Risk From Whales Solend's first proposed measure was an "emergency powers" package. Named SLND1, it would have given Solend’s developers more control over users' accounts, allowing the platform to identify whales who represent more than 20% of the borrowing in any given pool. Solend would then have emergency power to take over these accounts in the event of any liquidation. The platform would be able to liquidate the account more slowly, so that lenders would get paid but SOL shares wouldn’t get dumped en masse. At the time, this proposal was met with a lot of favor. Solend got just enough voting participation to meet their 1% quorum requirement, and the emergency ballot passed by 97.5%.  However, users quickly found out that some unsavory dealings had been going on behind the scenes: Struggling to achieve enough user participation to reach a quorum, the platform found a user who owned over 1% of all the turnout tokens. This user’s outsized number of votes swayed the results of the election, while many members of the Solend community had been outspoken about how much they disliked the measure. They felt that it gave the platform too much control over individual users’ accounts, contesting the ethos of decentralization. Proposal 2: SLND2 — Invalidate SLND1 & Increase Voting Time Since there was so much public outcry over SLND1, the developers proposed a new measure, SLND2, which would essentially reverse everything that had been agreed to with SLND1. The new measure proposed both to cancel the idea of giving the Solend team more power over user accounts, and to increase the overall voting time. This ballot ran into a similar problem as the first proposal. Once again, users were divided, and it mostly came down to the input of the same user, with their outsized voting power. This user initially said they would vote "No" on SLND2, because they didn't want to cave to public pressure. However, at the last minute, they decided to vote "Yes” and the proposal passed. The platform was no longer allowed to access user accounts in an emergency, while users were given more time on future votes. Proposal 3: SLND3 — Introduce Account Borrowing Limit After the first two controversial votes, Solend users were becoming fairly anxious. Fortunately, the platform was able to finally get in contact with the whale and work to resolve the ongoing situation. While this was happening, the team also began to work on a new proposal that would hopefully reduce the risks of another such occurrence. SLND3’s ballot measure proposed to reduce borrowing limits for all users. The proposal suggested that, in the future, there should be a borrower ceiling of $50 million. This would hopefully prevent one borrower from being able to take up so many funds from a lending pool. The ballot passed on June 21, and the proposed limit went into effect. Though there was once again the issue of a single user deciding the vote, there was less public outcry because most people believed the new measure was a wise decision. Overall Impact on SOL It's hard to clearly define Solend's effect on SOL, since the two are so closely related. SOL was definitely on the downturn before the lending protocol disaster. In fact, the Solana network crash was the main reason that all of the whale's SOL collateral was almost liquidated in the first place.  During the days of constant, contradictory proposals, market uncertainty continued to drive SOL prices down. Many investors dumped their SOL out of fear that its value was about to drop further. However, even when the near crash was prevented, as a portion of the whale’s debt was moved to another protocol, the price of SOL didn’t immediately recover. It appeared that stabilizing Solend had prevented a bigger crash, but was unable to improve Solana’s ecosystem as a whole.  Is Solend a Good Investment? The situation with Solend highlighted some key problems with the protocol. Many investors are now wary of lending to users, as the whale issue highlighted just how easily one bad call could destabilize any lending pool. It’s somewhat reassuring to see that the developers were able to handle things, and to keep users from losing money. However, if there’s a reoccurrence, the outcome may be very different. Despite the newer borrowing limits, there still isn't much regulation in place to prevent the same problem from happening again. That said, there's no indication that borrowing on the platform or using it to leverage cryptos against each other is potentially disastrous. These sorts of activities don't necessarily run the same risk of drastic harm from a single large liquidation. However, the June 2022 crash did cause a limited lending pool. This could be a problem for investors whose plans involve acting quickly and constantly taking out various loans. In addition to the practical issue of one whale borrower bringing things to a halt, the June crash also introduced some philosophical problems. Many investors had been drawn to the lending protocol because it claimed to be a DeFi program in which financial decisions weren't based on human error.  However, all of the SLND proposals ended up coming down to a single user whose votes were heavily influenced by both the developer team and the Twitter outrage. The ability of one voter to purchase so much power shows that Solend may end up being influenced by personal bias and real-world politics just as much as the traditional financial system it criticizes. SLND’s price has dropped by roughly 97% since its peak in November 2021. Given the current volatile market conditions, and potential contagion effects that could arise from FTX’s fallout, users should be careful when deciding whether to invest in SLND. Source: CoinMarketCap The Bottom Line Ultimately, Solend’s decentralized lending and borrowing protocol has some exciting features. However, the recent near-crash shows the potential dangers of DeFi lending platforms. Despite claims that Solend’s program is decentralized and algorithmic, it ended up relying entirely on user behavior. Since it's lacking in regulations, this opens up vulnerabilities that can cause real financial damage. Solend’s lending protocol is certainly intriguing to tinker around with, but we'd recommend caution when working with large amounts of funds. Source: What Is Solend and How Did a Near Crash Almost Cripple It? | Bybit Learn
Buffer Finance And What Can Offer To Its Users

Buffer Finance And What Can Offer To Its Users

ByBit Analysis ByBit Analysis 27.11.2022 21:23
At a Glance In this series, we take a look at the latest news, developments and innovations within the ever-changing decentralized finance (DeFi) space. We will dive deep into the nitty gritty details to better understand how protocols within the DeFi space work, the problems plaguing the ecosystem, as well as how builders intend to overcome them. Buffer Finance is a decentralized binary options trading protocol on Arbitrum that allows traders to create, buy, and settle options against protocol owned liquidity (POL). Despite its BLP model (modeled after GMX’s GLP) failing, the team successfully migrated to a POL model.  The protocol has generated over $130k in fees since its launch, earning BFR stakers 15% APR as of the time of writing.  Preface On October 14, 2022, Buffer Finance launched their V2 protocol on Arbitrum mainnet. As of the time of writing, the protocol is still in beta and documentation and audits for the new protocol is yet to be released. Thus, this quick dive will cover the protocol based on available information from their medium articles as well as from speaking to a member of the team.  What is Buffer Finance? Buffer Finance is a decentralized binary options trading protocol, allowing traders to create, buy, and settle options against a protocol owned liquidity (POL) pool. Buffer Finance first launched on Binance Smart Chain in December 2021, before migrating to Arbitrum in October 2022.  GMX’s success has inspired a number of protocols and Buffer Finance takes a page out of GMX’s book by forking their staking architecture, allowing users to stake BFR, the protocol token, for a share of protocol revenue in the form of BFR, esBFR (escrowed BFR), and USDC. Unlike GMX, which uses GLP to incentivize users to provide liquidity to the protocol, Buffer Finance has implemented a POL model to replace BLP (modeled after GLP) after it experienced significant volatility — more on this later.  How Buffer Finance Works In V2, the protocol has two key participants:  Options Traders — traders customize strike price, expiry, and options size to purchase a put or call option. Traders pay an option premium (strike fee + option fee) and a settlement fee, and can exercise the option any time before the expiry date against the POL pool.   BFR Token Holders — BFR token holders can stake their tokens to earn a share of protocol revenue and participate in protocol governance.  A trader purchasing binary options is essentially betting on the trading direction of the underlying asset. If positions expire or are closed in the money, then the trader earns the payout (a percentage of the initial investment). If positions expire or are closed out of the money, then the trader loses their initial investment. Since the counterparty of the trade is the POL pool, if the trader wins, the POL pool pays out the profit. Conversely, if the trader loses the trade, the POL pool keeps the trader’s investment.  Trading Let’s look at an example. buffer.finance On Buffer Finance, the current payout is 70% when using USDC (BFR trading will launch soon) and the maximum time frame is four hours. The price of BTC is at $15,793 but Henry thinks that BTC price will continue to fall in the next four hours. Henry then opens a position with $1,000 and chooses “Down”. If the price of BTC continues to fall within the specified time frame and the option expires or Henry closes the position, Henry earns $700 from the POL pool, which is a 70% payout. If the price of BTC instead increases and the option expires out of the money, then Henry loses his $1,000 deposit to the POL pool.  As of the time of writing, maximum trading size is set to 0.2% of available liquidity in the POL pool while max utilization is set to 10% of total available liquidity in the POL pool. This is done to safeguard the protocol and reduce volatility of the pool. Soon, users will be able to choose either an exact price or a range to bet on, rather than just deciding on the direction of the trade (“Up or “Down”).  Protocol Revenue One of the main reasons why GMX gained significant traction is because of the potential for token stakers and liquidity providers to earn a share of protocol revenue. Similarly, Buffer Finance allows BFR token stakers to earn a share of its revenue.  Fees are generated from the following: Strike fee — intrinsic value of the option; for a call option, it is MAX(0, strike price - current price), while for a put option it is MAX(0, current price - strike price). Options fee — calculated using an option pricing formula using current price of the asset and Implied Volatility (IV) as the key inputs.  Settlement fee — 4% of the total amount of the asset being covered under the option  As of the time of writing, the protocol utilizes a USDC POL pool (BFR POL pool to be launched soon). 40% of fees generated are sent to BFR stakers while the remaining 60% is sent back to the POL pool.  Recent Developments On October 25, 2022 the protocol halted trading after just 12 days of the V2 beta launch. Although successful, a number of large winning trades caused significant volatility to the price of BLP, causing panic among BLP liquidity providers. In order to prevent a bank run, the team halted trading and quickly seeded a USDC POL pool with $75k USDC and restarted trading. Since then, the pool has increased by almost 60% to ~$119k, accruing over $15k in fees. On November 8, 2022, the team launched an OTC sale for esBFR, a non-transferrable token that matures into liquid BFR over a period of one year in order to seed the POL pool. As of the time of writing, over $90k has been raised.  Protocol Comparison   BFR GMX GNS Annualized Fees $2,977,738 $129,120,000 $13,110,000 Annualized Volume $19,851,552 $88,450,000,000 $25,460,000,000 Fees/Volume 15.00% 0.15% 0.05% Staking APR 15.53% 17.76% 8% LP APR - 29.92% 20% FDV $24,920,000 $468,210,000 $100,000,000 P/E 8.37 3.63 7.63 Source: As Linked Let’s compare Buffer Finance with two protocols that have been trending in the #realyield movement recently: GMX, a decentralized spot and perpetual exchange and Gains Network, a synthetic leveraged trading platform.  While some have compared Buffer Finance’s Fees/Volume ratio with the other two protocols, it is not a relevant metric since GMX and Gains Network both offer leveraged trading, which inflates the volume traded metric. Thus, we revert to a familiar metric — the Price-Earnings ratio. Dividing each protocol’s FDV with its annualized fees generated, Buffer Finance is currently trading at 8x P/E compared to GMX and Gains Network, who are trading at 3.63x P/E and 7.63x P/E respectively.  As of the time of writing, BFR stakers earn 15.53% APR, while GMX and GNS stakers earn 17.76% and 8% respectively. Where Buffer Finance differs from the two other protocols is their liquidity provision model. Since migrating to POL, Buffer Finance does not have any liquidity pools for users to provide liquidity. Thus, users looking to earn yields by providing liquidity might stake GLP at GMX or provide DAI liquidity on Gains Network.  Final Thoughts Despite moving from its BLP staking model (modeled after GMX’s GLP model), Buffer Finance still provides “real yield” seekers a significant APR from its profitable model. Since its V2 launch, Buffer Finance has accumulated over $130k in protocol fees. It is also important to note that Buffer Finance, GMX, and Gains Network all operate in different niches so users have ample choice in strategies. With the DeFi landscape on Arbitrum continuing to pick up speed, Buffer Finance offers a decent product to users looking for yield opportunities, both from options trading and BFR staking.  While the recent FTX meltdown has brought crypto sentiment and prices lower, the Buffer Finance team continues to ship updates as they move towards the full launch of their V2 protocol. Furthermore, the team has also shown their commitment and competence via the handling of the BLP failure. Thus, we look forward to seeing Buffer Finance continue to grow and carve out its place on Arbitrum and beyond.  Disclosure: Members of Bybit may be invested in some or all of the tokens and projects mentioned within the following article. This statement discloses any conflict of interest and is not a recommendation to purchase any token or participate in any of the mentioned ecosystems. This content is purely for educational purposes only, and should not in any way be construed as investment advice. Please exercise caution and practice your own due diligence if you are planning to partake in any of these projects in any way. The views expressed in this article are that of the author(s) and do not represent the views of Bybit.
Binance Academy summarise year 2022 featuring The Merge, FTX and more

One Of The Latest Protocols - Vela Exchange

ByBit Analysis ByBit Analysis 27.11.2022 21:27
At a Glance In this series, we take a look at the latest news, developments and innovations within the ever-changing decentralized finance (DeFi) space. We will dive deep into the nitty gritty details to better understand how protocols within the DeFi space work, the problems plaguing the ecosystem, as well as how builders intend to overcome them. Vela Exchange is a decentralized, fully on-chain order book exchange that is launching on Arbitrum. The exchange will support both spot and perpetual trading, as well as a decentralized peer-to-peer (P2P) over-the-counter (OTC) trading platform for both private and public trading. Preface The fall of FTX and the resulting ongoing contagion has led to a shift in focus onto order book decentralized exchanges (DEXs). This comes as a result of investors looking to mitigate risks of centralized exchanges (CEXs) potentially being insolvent. Thus in today’s quick dive, we take a look at Vela Exchange, an order book DEX launching soon on Arbitrum.  What is Vela Exchange? Formerly Dexpools, Vela Exchange is a decentralized, fully on-chain order book exchange that is launching on Arbitrum. The exchange will support both spot and perpetual trading, as well as a decentralized peer-to-peer (P2P) over-the-counter (OTC) trading platform for both private and public trading.   As of the time of writing, Vela Exchange just concluded its private alpha testing stage and is preparing for the launch of its public beta.  Team & Backers Vela Exchange was founded by Travis Skweres and Dan Peng. Both founders have had ample experience in the tech and consulting industries and met at BCG. Skewres has been involved in the cryptocurrency space since 2012 and founded Portal Finance which has since been acquired by Coinbase. The rest of the team and advisory board come from teams such as Balancer, Black Rock, BCG, and Polygon.  Source: Vela Exchange In terms of backers, the team has raised ~$2.1 million from various funding rounds and has strategic partnerships with Big Brain Holdings, Jade Protocol, Magnus Capital, Orange Dao, and Quantstamp.  How Vela Exchange Works As the protocol is still in development, not much technical information has been released. Thus, the following is based on public information from their litepaper.  Products Vela Exchange will have three main products:  Perpetual Exchange — Fully on-chain order book perpetual exchange where users create positions against synthetic assets with up to 30x leverage. Users deposit stablecoins such as USDC as collateral.  Spot Exchange — Fully on-chain order book exchange where users can trade assets depending on available spot markets OTC P2P Platform — Decentralized P2P OTC trading platform where users can trade assets publicly or privately to avoid slippage or frontrunning. This was the original product when Vela Exchange was known as Dexpools.  Tokens & Yield Distribution VELA is the utility token of Vela Exchange. eVELA (escrowed VELA) is non-transferable and can be unlocked by staking into a vesting contract, which unlocks the same amount of VELA tokens on a linear vesting period of one year. eVELA can also be staked to earn protocol rewards, as explained below (separate from staking into the vesting contract to unlock VELA tokens).  Source: Vela Exhange Both VELA and eVELA can be staked to earn a share of protocol fees as rewards, both tokens can also be staked to unlock discounted trading fees. Rewards are distributed based on the total number of VELA and eVELA that are staked. Staked VELA has a lockup period of two weeks. It is important to note that the user’s entire staked amount does not earn rewards during the un-staking period of any given amount of VELA tokens. For example, Bob has 10,000 VELA staked and earning rewards. Bob decides to un-stake 4,000 VELA tokens. For the next two weeks while the 4,000 VELA tokens are un-staking, Bob does not earn any rewards — even from his remaining tokens that are still staked. The team plans to implement a buyback model for VELA, which will happen over two-week periods. The buyback will be based on a percentage of fees generated from both spot (30%) and perpetual trading (20%). VELA tokens bought back will be reserved for eVELA rewards that will be distributed to VELA and VLP stakers, eliminating the need for inflationary tokenomics to incentivize liquidity.  Source: Vela Exchange VLP is the token that users receive for providing liquidity to the protocol. Users can deposit stablecoins such as USDC, USDT, or DAI, and receive VLP tokens that represent their stake in the pool. VLP holders will earn 50% of the fees generated by the perpetual exchange. Users can also stake VLP to earn an additional 10% of the total fees generated by the perpetual exchange in the form of eVELA. This is not unlike GMX’s GLP liquidity model, except that on Vela Exchange, only stablecoins are accepted as liquidity.  vUSD is the token which represents the user’s stablecoin collateral. Users deposit stablecoins like USDC, USDT, and DAI into VELA, and receive vUSD at a 1:1 ratio to be able to trade margin on the perpetual exchange.  Platform Fees Fees on the perpetual exchange will be a flat 8 bps closing and opening a position. As mentioned previously, VELA/eVELA stakers can earn fee discounts, depending on the amount of VELA/eVELA tokens staked. Discounts start from 2% and can increase up to 50%.  Source: Vela Exchange Source: Vela Exchange The funding rate on the perpetual exchange has a fixed interest rate of 0.01% per funding interval of 8 hours plus a premium rate that depends on the difference in price between the index price and perpetual market. Thus, if the perpetual price is more than spot price, longs pay the shorts and vice versa.  The perpetual exchange also has borrowing fees to ensure sufficient liquidity. Users pay a borrowing fee for margin trading upon settlement of their positions. The borrowing fee is calculated on an hourly basis, and is equivalent to the borrowed amount of collateral divided by the total amount of liquidity available in the pool times 0.01%.  Tokenomics VELA will have a total supply of 100 million tokens. As of the time of writing, the protocol’s token is in the form of DXP, which is an ERC-20 token on Ethereum. Upon launch, DXP holders will be able to claim VELA tokens on Arbitrum on a 1:1 basis.  Community Incentives — 35% of the total supply will be set aside for community incentives and will be limited to 5% usage per year. These funds will be used for incentives like rewards for liquidity providers, market makers, beta testers, and other incentives.  Growth Fund — 25% of the supply will be reserved for future grants, DEX liquidity, market maker allocation for CEXs, and the liquidity provision incentive program. Marketing — 10% of the supply will be used for marketing rewards such as airdrops, KOL partnerships, and other partnership efforts. These funds are limited to a 2% usage per year.  Core Team — 10% of the supply goes to the core team and will be on a 6 month cliff with linear vesting for 36 months.  DXP Allocation — 7% of the supply are in the form of DXP tokens as follows: Private Sale: 4,238,000 DXP; 10% unlocked at launch (TGE), 3 month cliff, 12 months linear vesting IDO: 1,000,000 DXP; 25% TGE, 8 months linear vesting Copperlaunch LBP: 1,688,000 DXP, no vesting Team Growth Reserves — 5% of the supply will be used for recruiting incentives. New contracts will have a 6 month cliff from date of hire and a minimum vesting period of 24 months.  Investors — 5% of the supply will be allocated for VELA investment rounds in Q4 of 2022. Advisors — 3% of the supply are allocated to advisors and are on a 6 month cliff with linear vesting for 18 months. Note: All tokens with vesting have begun vesting since April 8, 2022 unless otherwise stated.  Final Thoughts Vela Exchange is one of the latest protocols to step into the growing DEX category. Its competitors — protocols like GMX, GNS, Injective’s Helix, and Kujira’s FIN that use order book or synthetic based trade execution models, are gaining traction in a space that is currently dominated by automated market maker (AMM) based holders like Uniswap, Sushiswap and Balancer. We see this happening due to the similarity in trading experience that order book based DEXs provide to that of CEXs. This also points to a shift in priorities for investors who have begun to look for protocols that not only provide great UX and CEX-like functionality, but also provide investors with sustainable yield from distribution of protocol revenue. Not to mention the recent FTX implosion has led to an exodus of assets and trading activity from CEXs to DEXs. Although the above count as tailwinds in Vela Exchange’s favor, the highly competitive landscape means that the protocol must stand out against the crowd by providing best-in-class UX, CEX-like functionality, and security.  A major issue for DEXs is the ability to attract liquidity. Failing to do so results in slow execution and high spreads on order book DEXs and high slippage on AMM DEXs. AMMs like Uniswap make use of inflationary tokenomics to incentivize liquidity provision, while order book based DEXs typically do the same by offering incentives to users who provide liquidity (GMX’s GLP, or dYdX’s market maker rewards). Vela Exchange, being an order book DEX, makes use of GMX’s GLP incentivized liquidity model as well as offer incentives for market makers, thus ensuring that the protocol can get off the ground running in terms of attracting liquidity. However, unlike dYdX in its current state, VELA is non-inflationary and can be sustained by protocol revenue in the long-term.  As of the time of writing, Vela Exchange is preparing to kickstart its public beta and are expected to launch with its perpetual exchange platform, with its spot exchange to launch once its orderbook engine is complete. Thus, we look forward to seeing developments and progress from Vela Exchange as it moves closer to launch.  Disclosure: Members of Bybit may be invested in some or all of the tokens and projects mentioned within the following article. This statement discloses any conflict of interest and is not a recommendation to purchase any token or participate in any of the mentioned ecosystems. This content is purely for educational purposes only, and should not in any way be construed as investment advice. Please exercise caution and practice your own due diligence if you are planning to partake in any of these projects in any way. The views expressed in this article are that of the author(s) and do not represent the views of Bybit.    
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

What are Canary Network and Songbird Network? Songbird Crypto Token and more explained by ByBit

ByBit Analysis ByBit Analysis 28.11.2022 09:39
Cross-chain interoperability remains a challenge for the wider adoption of blockchain technology. By default, blockchains are self-contained environments that have limited points of contact with the outside world. Many projects have been launched in recent years to improve blockchains’ ability to communicate with each other. One of the upcoming projects in this domain is Flare Network (FLR). This new blockchain takes pretesting seriously, with a test chain, Songbird (SGB), at the core of its launch activities. What Is Canary Network? In blockchain, a canary network is a pretesting environment used to safely test features and functions to be implemented. A canary network is a proper chain of its own, and emulates most or all the features of the main blockchain it’s designed to test. It has exactly the same network architecture as the main chain. Canary networks are usually different from testnet chains, used in pretesting a final blockchain, (the mainnet). Testnets nearly always have the same native coin as their mainnets, while canary networks feature a different cryptocurrency. Additionally, crypto coins and tokens on a testnet have no monetary value, and can be freely spent. In contrast, canary networks feature proper coins and tokens with some market value. The coin and token balances on a canary network cannot be freely replenished. As such, a canary network might be considered a more advanced network type than a testnet. In some cases, canary networks continue to operate for years alongside their main chain, and might even develop defined ecosystems of their own. What Is Songbird Network? Songbird is the canary network for the Flare blockchain, a smart contract platform designed to enhance cross-chain interoperability that’s compatible with the Ethereum virtual machine (EVM), opening up opportunities for interaction with a large number of modern blockchains. Originally, Flare was conceptualized to help improve compatibility between the XRP Ledger and other popular public blockchains. The XRP Ledger is the enterprise-oriented blockchain of leading crypto financial network Ripple, whose coin, XRP, is the 7th largest cryptocurrency by market cap. Top 7 Cryptocurrencies by Market Cap as of November 21, 2022 Source: Coingecko.com By connecting the XRP Ledger to other prominent blockchains, Flare can help markedly improve the business world’s overall adoption of blockchain technology. As of November 2022, Flare is in “observation mode,” with its beta version expected to be launched shortly. Similar to Polkadot’s (DOT) thorough adoption of pretesting via its own canary network, Kusama (KSM), the developers of Flare are using Songbird as a testing network to implement all the key features of Flare: Flare Time Series Oracle (FTSO), State Connector and F-Assets. This means that Songbird would always be a step ahead of Flare in terms of technological innovations, albeit with the added risk of instability. FTSO is a network of oracles that feeds external price-pair data into Flare’s blockchain. State Connector is a Flare functionality to securely pass off-chain data on the network. F-Assets are special assets designed to enable smart contract functionality on Flare using cryptocurrencies that don’t normally support such a feature. Examples of these cryptocurrencies would be XRP, as well as popular coins based on the proof of work (PoW) consensus protocol such as Bitcoin (BTC), Dogecoin (DOGE) and Litecoin (LTC). What Is Songbird Crypto Token (SGB)? SGB is Songbird’s native crypto coin. One of its key functions is governance. SGB is crucial for testing governance-led functionalities of the Flare ecosystem. Flare governance proposals may originate from two sources — the Flare Foundation (a Netherlands-based nonprofit in charge of the project), and the user community. If a proposal comes from the Foundation, it’s voted on directly on the Flare network. However, if the user community submits a proposal, it first has to go through the voting process on Songbird, with SGB coin holders making a decision. If the vote is successful, the proposal will move to the next stage, voting and consideration on Flare. Changes proposed by the user community via voting on Songbird concern the actual Flare blockchain, not Songbird directly. If the changes are implemented on Flare, they’ll be duplicated on Songbird for testing purposes. Besides governance, SGB can also be used within the key apps and services on Songbird — FTSO, State Connector and F-Asset systems — as a testing ground. This way, users who wish to use Flare network can first try out the services without risking their FLR coins while earning SGB coins. For example, oracle data providers in FTSO earn rewards for their activity. SGB holders may also delegate coins to their chosen data providers to improve their voting power, and to earn a share of the rewards paid to them. In September 2021, SGB started with a supply of 15 billion at an annual inflation of 10%. There are now 16.7 billion coins, 8.7 billion of which are in circulation. The coin has been airdropped to XRP holders via various exchanges at a rate of 0.1511 SGB:1 XRP. Songbird Crypto Price Prediction SGB initially traded at around $0.31. In its first three months, its value fluctuated between $0.35 and $0.65. In late 2021, a long-term downward trend began, carrying it to $0.02 by May 2022 and around $0.01 by October. SGB has been relatively stable since then, trading at $0.013 as of November 21, 2022. Source: CoinGecko.com DigitalCoinPrice forecasts that SGB’s price will reach $0.036 by 2025 and $0.043 by 2027. PricePrediction is somewhat more bullish, expecting it to trade at $0.041 by 2025 and $0.085 by 2027. Thus, leading forecasters predict a slow, modest long-term growth pattern for SGB. Our view is that SGB does have potential for modest-to-good growth. Its network acts as a testing environment for a project that has great potential to bring enterprise-focused XRP to the wider blockchain ecosystem. Its useful functionality to enable smart contract operations for mineable cryptos — BTC, LTC and DOGE — may also provide further support to SGB. However, the testing/canary nature of Songbird may act as a risk factor for SGB’s growth potential. Canary networks do function as full blockchains for years on end. However, if Songbird is largely deprioritized when Flare is in full operation, SGB’s growth potential would then be curtailed. Closing Thoughts Songbird’s fate will largely depend on what kind of canary network it develops into over time. It might fade into obscurity when advanced testing is completed, and the Flare ecosystem is in full swing. However, as with Kusama/Polkadot, Songbird might continue to flourish and develop its own unique and rich ecosystem, independent of Flare. If Flare’s project team keeps an eye on the Kusama/Polkadot environment, they might see the benefits of actively supporting Songbird as its own long-term network. Source: Songbird Crypto: The Canary Network for Flare | Bybit Learn
Taking care of cryptocurrencies - ByBit highlights talks safety measures

Taking care of cryptocurrencies - ByBit highlights talks safety measures

ByBit Analysis ByBit Analysis 28.11.2022 09:47
  The decentralized model of cryptocurrency largely transfers power to users, which is why many users are drawn to it. However, with that power comes the responsibility of maintaining the privacy of your security keys. Effectively, by having complete ownership of your funds, you become solely responsible for the security of your funds. This article will examine various best practices for practical user security. Cryptocurrency users are susceptible to being targeted by hackers    As a digital asset, cryptocurrency has intrinsic value and can be stolen and diverted to new owners instantly and irrevocably. This creates a massive incentive for hackers to target users who do not take their security seriously. In 2020, research data revealed that global cryptocurrency losses due to hacking exceeded $3.8 billion. Trading platforms, wallet service providers, and related enterprises incurred most of these losses. Due to the undeniable high risk of security threats and breaches, cryptocurrency trading platforms and wallet service providers are investing more in cybersecurity. The security systems they procure are like those used in traditional centralized financial institutions with complex and layered security features. As the security levels at the institutional level get harder to penetrate, individual users gradually become the target of hackers. 10 Best Security Practices for Cryptocurrency Users 1. Change your perception of cybersecurity One fact that has existed for ages is that we are undoubtedly paying fees for the security of our funds in our bank account (though “security fees” will never appear on bank statements). Unlike traditional centralized banking financial institutions, decentralized systems such as cryptocurrencies transfer the control and responsibility of security to individual users. With cryptocurrency, even when we might be excited to complete our first cryptocurrency transaction, we should not forget that there are no longer any security service providers similar to what banks have, and there may not even be enough regulations to provide any protection (depending on the national or regional regulatory regulations in which the holder is located). Therefore, it is recommended that cryptocurrency users have crucial security practices in place, such as buying simple and easy-to-use hardware security devices, mastering security protocols, and implementing security best practices recommended in this article.   2. Choose a trusted trading platform with reliable security incident compensation or insurance mechanism. The most apparent risk faced by cryptocurrency holders is the theft of coins. Assuming most individual users hold coins on cryptocurrency trading platforms, choosing a trusted platform is undoubtedly important. There is no benchmark for international security standards or third-party agency ratings for trading platforms in the cryptocurrency industry. Therefore, it is necessary to properly understand the security mechanism of a platform before registration, such as the company’s current security investment. Also, it is important to check if there is any user account security insurance or guaranteed compensation for security breaches.   3. It is not enough to be well-informed on anti-phishing practices and scams; you must complete a safety test.   You should be familiar with basic user security risks as a cryptocurrency holder. Among them, phishing is the most common. To avoid being viewed as a “fish” in the eyes of perpetrators, you should be equipped with the knowledge about common “baiting-the-hook” techniques. One example would be when you receive a phishing email, and the URL that invites you to click is a fake domain name similar to a trusted one e.g. www.goog1e.com (note that it is not www.google.com). It could even be a clone website of a commonly used trading platform. According to data, around 65% of organizations worldwide experienced some kind of phishing attack in 2022. If your email has been compromised, or if you previously had a compromised account, then phishing emails will be carefully designed to target you. 96% of phishing attacks come from email, according to statistics. So, how do you prevent this?  A reliable method for crypto holders is to complete an anti-phishing security test. The Google online test is a good benchmark and you can take the test here. It comprises a total of eight (8) questions and requires just 10 minutes of your time. Didn’t manage to score full marks? That means you need to increase your security awareness and try again. Many large companies also test employees’ security awareness and corporate security status. Other common phishing methods include sending gifts or bonuses through fake official social media channels, posing as customer support personnel, or cloning trading platform CEOs' social accounts.    4. Use of 2-Factor Authentication (2FA)  The good news is that most cryptocurrency trading platforms, including Bybit or wallet service providers, require users to use two-factor authentication, such as Google Authenticator. The downside is that users will always dislike the hassle of using these tools. Taking the time to understand the principles of the 2FA security mechanism will allow us to understand the correct usage of a 2FA. 2FA is an additional layer of security used to ensure that only legitimate owners can access their accounts. This “extra” layer means that in addition to some things you know (password, PIN, etc.), security verification will also verify the second layer (two-factor). This two-factor can be something you own, such as the Google Authenticator app installed on a mobile phone that you carry, a one-time password sent to your mobile phone via SMS or hardware tokens. These features are used on top of your existing mobile security features (such as fingerprints, iris and/or facial scanners, etc.). When we install Google Authenticator directly on the computer, we give up an extra layer of protection every time we copy the verification code instead of using the smartphone app. It is very likely that once a hacker (remote) or a person who has physical access to your computer and gains access, your existing layers of protection will be penetrated. At Bybit, users can bind their accounts with Google Authenticator. The best time to bind your Google Authenticator is immediately after your first login to the Bybit account. Read here on how to bind your Bybit account to Google Authenticator.   5. Strong passwords independent of other Internet accounts It is always the most economical choice for a hacker to try to hack the target cryptocurrency account by using a user’s compromised account and password. Knowing this, a savvy cryptocurrency holder will have the following preventive measures. First, register a new email account for the cryptocurrency platform to circumvent any previous digital footprint that would allow hackers to successfully hack or clone your account. Secondly, do not use weak or common passwords. A report from CipherTrace, a blockchain certificate company, shows that 65% of the Know-Your-Clients verification (KYC) processes in the world’s top 120 cryptocurrency trading platforms are weak. This means that once your crypto account password has been cracked, the hacker could easily obtain your crypto assets on the trading platform and transfer them to their wallet address, thus leaving little to no chance of retrieving the assets.    6. Dividing assets in a 70-20-10 ratio to diversify risks In addition to trading on platforms using your accounts and cryptocurrencies, it is common for traders to store crypto assets offline like one would with cash in a safe. Personal crypto assets, whether stored in hard wallets, physical storage, desktop wallets, or mobile APP wallets, are recommended to be allocated to cold, warm, and hot wallets in the ratio of 70%, 20%, and 10% of assets depending on an individual needs and preferences. Would you still carry your entire net worth around in your wallet? Most people consider that reckless, yet cryptocurrency users often keep all their cryptocurrency in a single wallet. Instead, users should spread the risk among multiple and diverse cryptocurrency wallets. Prudent users will keep only a small fraction, perhaps less than 5%, of their cryptocurrency in an online or mobile wallet as “pocket change.” The rest should be split between a few different storage mechanisms, such as a desktop wallet and offline (cold storage).   7. Use a physical wallet that represents future trends Because most users are far more comfortable with physical security than digital security, a very effective method for protecting cryptocurrency is to convert them into physical form. Cryptocurrency keys are nothing more than long numbers. This means they can be stored in a physical form, printed on paper or etched on a metal coin. Securing the keys becomes as simple as physically securing the printed copy of the cryptocurrency keys. A set of cryptocurrency keys printed on paper is called a “paper wallet,” and many free tools can be used to create them. For example, I would keep most of my cryptocurrency (99% or more) stored in paper wallets, encrypted with BIP-38, with multiple copies locked in safes. Keeping cryptocurrency offline is called cold storage and is one of the most effective security techniques. A cold storage system is one where the keys are generated on an offline system (one never connected to the internet) and stored offline on paper or on a physical device, such as a USB memory stick. In the long term, cryptocurrency security will increasingly become hardware-tamper-proof wallets. Unlike a smartphone or desktop computer, a cryptocurrency hardware wallet has one purpose: to securely hold cryptocurrency. Without general-purpose software to compromise and with a limited interface, hardware wallets can deliver an almost foolproof level of security to non-expert users. It is no surprise that hardware wallets will become the predominant method of cryptocurrency storage.   8. Balance the risk of excessively complex protection to prevent asset loss   Complexity is the enemy of security, especially for the average individual user. The main risk addressed in the many security measures mentioned above is the prevention of stolen crypto assets, whether stolen on a trading platform or stolen physically – although, overly complicated security measures could pose greater risks. Although most users are rightly concerned about cryptocurrency theft, there is an even bigger risk. Data files get lost all the time. If they contain cryptocurrency, the loss is much more painful. In the effort to secure their cryptocurrency wallets, users must be very careful not to go too far and end up losing the cryptocurrency. In July 2011, a well-known cryptocurrency awareness and education project lost almost 7,000 cryptocurrencies. In their effort to prevent theft, the owners had implemented a complex series of encrypted backups. In the end, they accidentally lost the encryption keys, making the backups worthless and losing a fortune. One important security consideration that is often overlooked is mortality, especially in the context of incapacity or death of the key holder. Cryptocurrency users are told to use complex passwords and keep their keys secure and private, not sharing them with anyone. Unfortunately, that practice makes it almost impossible for the user’s family to recover any funds if the user is not available to unlock them. If you have a lot of cryptocurrencies, you should consider sharing access details with a trusted relative or lawyer. A more complex survival scheme can be set up with multi-signature access and estate planning through a lawyer specializing in “digital asset execution.”   9. Personal Data Protection and cryptocurrency-related privacy issues   Individuals own their data and cryptocurrency assets. Personal data protection is a sensitive subject. A single trace can identify and associate your personal information (PI) in the encrypted world with your cryptocurrencies. For example, your online usernames/ID on crypto community forums, your IP address, smartphone device information, personal infor trading platforms, or even if you inadvertently mention the type and quantities of crypto you own on social media. Information about you being the owner of a particular wallet address, the crypto service provider (trading platform or wallet) you use, your attendance at a private cryptocurrency conference, etc. All this personal data could be easily obtained by unscrupulous individuals looking for easy targets. Protecting your privacy is part of protecting the security of your cryptocurrency assets but it is also the only way you can avoid the conflict between the encrypted virtual world and the real world.   10. Living in the cryptocurrency world, you will need a security expert friend   “My deposit went to someone’s else address.” “The customer support of the trading platform said that I was caught in a clipboard hijacking malware, and I will need to immediately use anti-virus software and check the browser plugin.” “What exactly is a clipboard hijacking malware, and what should I do?” Users in the digital world also face problems similar to those in the real world, especially security issues. They have so many questions with no answers and nobody to turn to. Perhaps, having a security expert friend in your daily life would make things much less complex. In Summary According to Statista, the number of blockchain wallet users, as of October 2022, stands at over 82 million. Cryptocurrency is a completely new, unprecedented, and complex technology. Over time we will develop better security tools and practices that are easier to use by non-experts. For now, cryptocurrency users can use many tips to enjoy a secure and trouble-free cryptocurrency experience. Source: How to Keep Your Cryptocurrency Safe (2022) | Bybit Learn
Effects of the FTX crash are here to stay. Traders are said to stay vigilant

Cryptocurrencies: How does District0x Network work? What is it?

ByBit Analysis ByBit Analysis 28.11.2022 09:53
We’re increasingly living in a world where everything can be done remotely, from shopping online on Amazon and eBay to getting a gig on talent marketplaces such as Upwork and TopTal®. However, despite the millions of users flocking to these sites to offer and obtain services, their true voices are rarely heard — since they neither own nor control these platforms. But what if there were a way to decentralize such platforms and give power back to their users? In this article, we’ll dig into district0x, a blockchain network using DNT tokens and the concept of a decentralized autonomous organization (DAO) to create user-governed marketplaces known as districts. Let’s learn more! What Is a Decentralized Autonomous Organization (DAO)? A decentralized autonomous organization (DAO) is a blockchain-based governance structure owned by its community members who participate in voting for improvements to a protocol. DAOs are powered by smart contracts, which enable collaboration by its members in a decentralized way. When a platform has a DAO structure in place, it decentralizes governance and ensures transparency in its operations. Members submit proposals on their desired changes, and the rest of the members can vote to execute them or not. The voting power is proportional to the number of tokens held. One of the earliest DAOs to enter the market was MakerDAO, which was built on the Ethereum blockchain. Since then, different types of DAOs have arisen, offering a diverse range of applications for users. Source: BlockchainHub What Is District0x Network? District0x is a blockchain-based network of decentralized online marketplaces, known as districts, which are operated by community members without centralized leadership. These districts operate as DAOs in which individuals can vote using the platform’s native token, DNT, to decide on various operations and functions. Fun Fact: District0X (pronounced “district-zero-ex”) derives its name from the districts, or marketplaces/communities, which form the building blocks of the network, along with the 0x prefix as a way to pay tribute to Ethereum, which uses these first two symbols for all its blockchain addresses. Each district’s core functionalities are powered by d0xINFRA, a framework of open-source, Ethereum-based smart contracts and front-end libraries secured using BitTorrent’s InterPlanetary Filing System. Aragon’s governance technology is at the core of the network’s DAO operations. Its user-friendly interface enables the creation, administration and governance of each district. The creation of a new district triggers a corresponding Aragon entity to facilitate all the governance processes. Every district on the network is an online marketplace, with functionalities such as posting listings, a filter/search feature, and payment and invoicing, as well as ranking/reputation. To enhance functionality in a district, the network allows the integration of auxiliary modules. These are third-party plug-and-play additions implemented independently by users specific to a district to add new features and functions, including monetization. District0x was co-founded by Joe Urgo and Matus Lestan in January 2017. It was launched on the Ethereum Mainnet in June of that year with an initial coin offering (ICO) that raised 43,169 ETH, or around $9.78 million at that time. Source: district0x white paper District0x Network: How It Works At the heart of district0x operation is the district creation platform, which is a user-friendly interface that deploys new online marketplaces on the network. By creating a district, decentralized marketplaces can benefit from: Increased visibility to the district0x community, which leads to adoption and growth Benefit from governance incentives through bonding curves Access and integration to Aragon for enhanced, decentralized governance Access to ancillary services, such as escrow Creating an online marketplace through districts is easy and permissionless. Anyone can create their own district on district0x. All an individual needs to do is apply, and submit a request for consideration on the District Registry platform. They will then be required to deposit DNT tokens and attach relevant links, logos, and descriptions of their marketplace. If the district is successfully created, it’s entered into the District Registry. District Registry The District Registry is a decentrally maintained district whitelist of all marketplaces on the district0x network. The District Registry signifies that a district has been successfully registered on district0x, and can access its core functionalities. Registered districts qualify to be included in the district0x Network Token staking interface. When staking tokens by using any of the three bonding curves available on the network, users gain voting rights to matters concerning their district. By staking DNT, a corresponding entity is activated on Aragon, and the holder is issued with district0x voting tokens (DVT). Based on these tokens, the holder gains the right to vote on issues concerning the district, including external functionalities that need to be added. Source: district0x white paper Active Districts There are three active districts on the district0x network. They are: Ethlance Ethlance is a blockchain-based freelancer website built on Ethereum. Launched in January 2017, it’s the first decentralized marketplace on district0x, and acts as the sandbox on which the d0xINFRA framework is based. Unlike centralized task-based platforms such as Upwork, which charge users hefty commissions of up to 20%, Ethlance doesn’t charge any service fees. All users need is enough Ether to pay for the gas fees to apply for or post jobs on the platform. Some of the jobs available on the platform include smart contract development, UI/UX design and DApp development. You’ll need to connect your web3 wallet to use the platform. Source: education.district0x.io Name Bazaar Name Bazaar is a decentralized peer-to-peer marketplace for the exchange of names registered through the Ethereum Name Service. Launched in October 2017, Name Bazaar was the second marketplace to deploy on district0x. It provides a secure and trustless platform to trade ENS names without incurring extra costs. All transactions are powered using Ethereum smart contracts, which eliminates the need for middlemen. Source: education.district0x.io Meme Factory The third district, Meme Factory, is a self-governing platform for the creation, issuance and exchange of rare meme non-fungible tokens (NFTs). It’s powered by the Ethereum blockchain and uses an incentivized voting game called a Token Curated Registry (TCR) to govern the creation and issuance of memes on the platform. Meme Factory allows creators to mint tokenized memes, and displays them on a bulletin board–style marketplace for trading. Source: education.district0x.io Future Districts At district0x, community members can submit ideas for the districts they’d like to be added to the platform. Using the district0x proposal voting DApp, DNT holders can participate in the district creation process in an open and transparent way. District creation is ongoing for the addition of Stream Tide to the network. Stream Tide is a decentralized grants matching platform that amplifies financial support to creators through a quadratic funding mechanism. What Is District0x Network Token (DNT)? The district0x Network Token (DNT) is a utility-enabled token that powers district0x. The ERC-20 token is used to facilitate open participation on the network. Its main uses are: Creation of new districts – When submitting applications for a new district, users are required to deposit DNT tokens for consideration. Voting – As a governance token, DNT is used to represent one’s share in the district0x governance structure, which utilizes an incentivized voting game on the District Registry. Staking – Once a new district is created, DNT token holders stake their tokens to gain voting rights on various matters regarding that district. Challenging creators – To prevent bad actors on the District Registry, a DNT holder can use their tokens to challenge the district creator’s spot. Other DNT crypto holders can vote to support or dismiss this challenge. District0x Price Prediction Following its launch in mid-2017, DNT’s price didn’t experience much activity. However, it experienced a significant pump in December, spiking from $0.045 on December 9, 2017 to $0.42 on January 6, 2018. Thereafter, the price declined gradually, stagnating for most of 2019 and 2020. However, in October 2020, DNT’s price began to pump, reaching its highest price to date of $0.43 on April 19, 2021. The token’s price corrected after that, and continued to trade sideways in the following months. DNT pumped slightly at the beginning of 2022 to hit $0.16 on April 4, 2022, but has since dropped significantly to below $0.05. Source: CoinGecko Technical analysts at CoinCodex believe that DNT could reach a maximum of $0.28 by 2024 and $0.63 by 2025. However, price forecast experts at Price Prediction hold a sluggish outlook, looking at a maximum price of $0.11 in 2025 and $0.75 in 2030. Closing Thoughts Decentralized markets are necessary in a world that’s now powered by e-commerce and remote working. By leveraging blockchain technology, district0x has created a framework that ensures the community has control over its marketplaces and can influence all functionalities in their districts. As more districts are deployed on the district0x platform, its ecosystem will continue to grow, giving power to the people working hard to build an online presence. Source: What Is District0x: Creating Districts of Decentralized Marketplaces | Bybit Learn
Crude Oil Sees Its Biggest Weekly Pull Back Since April

Chinese Protests Send Crude Oil Lower | Bitcoin Under Pressure

Swissquote Bank Swissquote Bank 28.11.2022 10:05
Massive anti-Covid protests in the biggest Chinese cities marked the weekend. So, the week kicked off on a bad mood in the Asian markets. Australian and Chinese stock markets were painted in red. The Hang Seng index dived more than 2% in Hong Kong, and crude oil has already lost more than 3% at the time of shooting. Black Firday In the US, the record Black Day sales could hammer the joy around a potential Federal Reserve (Fed) pivot on softening US economy. The US shoppers spent more than $9 billion in online sales on Friday, and Cyber Monday is also expected to be a record-breaking one, with more than $11 billion to be spent. This is not exactly what you expect to hear when you think that the US will enter a consumer-led recession in couple of weeks from now… FX And S&P 500 The US dollar kicked off the week on a bullish note. The EURUSD slipped below the 200-DMA, near 1.0380. The S&P500 index closed last week at the highest levels since mid-September, and stands a couple of points from the year-to-date descending channel top, which could bring topsellers in, especially if strong data revives the idea that the Fed has no reason to stop hiking its interest rates. Watch the full episode to find out more! 0:00 Intro 0:38 China doesn’t want Covid zero, but it’s not simple… 2:55 Chinese protests send crude oil lower 4:09 Dear Mr. Powell, Black Friday sales hit record this year… 6:32 … what should we expect? 7:03 Watch China EV deliveries, Tesla, Apple on China unrest 8:26 Bitcoin under pressure, again Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #China #Covid #protests #US #Black #Friday #Cyber #Monday #Fed #expectations #USD #EUR #crudeoil #Bitcoin #Tesla #Apple #Xpeng #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
"Harvest Finance allocates your funds to DeFi protocols via Ethereum, BNB Chain, Polygon and, most recently, Arbitrum"

"Harvest Finance allocates your funds to DeFi protocols via Ethereum, BNB Chain, Polygon and, most recently, Arbitrum"

ByBit Analysis ByBit Analysis 28.11.2022 10:09
Yield aggregators, decentralized protocols that invest crypto funds on your behalf automatically and optimize the investment across a variety of liquidity pools, represent one of the hottest growth areas of the decentralized finance (DeFi) industry. They’ve become popular in the last two years, particularly with the rise of the category leader, Yearn Finance. In 2020, another yield aggregator, Harvest Finance, made headlines by amassing over $1 billion in total value locked (TVL) in just a few weeks after its launch. Let’s take a closer look at the two-year-old Harvest Finance, and discuss its benefits and potential as a more mature project. What Is Harvest Finance? Harvest Finance (FARM) is a crypto asset management protocol that optimizes your funds by depositing them into a variety of liquidity pools on other DeFi platforms. A classic yield aggregator, Harvest Finance employs a variety of investment strategies to automatically deposit and manage your funds, freeing you from the necessity to manually sift through countless DeFi protocols and pools. As such, the platform is a great tool to earn passive crypto income. Additionally, Harvest Finance empowers beginners to join the ranks of yield farmers without the need to dive into all the complexities of the industry. Harvest Finance allocates your funds to DeFi protocols via Ethereum, BNB Chain, Polygon and, most recently, Arbitrum. There are more than 30 protocols used by Harvest Finance. These include the majority of the popular DeFi platforms — Curve Finance, Uniswap, Compound, SushiSwap, Lido and more. Launched on September 1, 2020, Harvest Finance became an instant hit in the crypto market, reaching a TVL of above $1 billion within a few weeks by late October. The platform’s meteoric rise to success was abruptly halted by a flash loan attack that was first noticed on October 26, 2020. The perpetrator used an elaborate scheme involving multiple pools to steal $24 million in stablecoins. As a result of the exploit, the protocol’s TVL plunged to $290 million by October 28. Harvest Finance’s price has never managed to fully recover to its October 2020 levels. Although at some stage in early 2021 its TVL rose as high as $869 million, the protocol has slowly declined, partly due to overall market weakness over the last two years, becoming a modest player in the yield aggregator category. Currently, it’s the 15th largest yield aggregation platform, with an unassuming TVL of $18.44 million. Source: DefiLlama How Harvest Finance Works Harvest Finance users deposit their funds into so-called vaults to earn interest from the pooled staking conducted by Harvest Finance. Each vault is a yield-farming, Ethereum-based smart contract that acts as a repository for pooled funds from many users. This pooling helps the protocol reduce the overall gas fees and other charges associated with moving funds to and from DeFi protocols. While vault depositors receive 70% of the profits generated by vaults, the high APY and low network fees make for an attractive overall yield. The remaining 30% is used to buy FARM, Harvest Finance's token, off the market. These FARM tokens are then distributed as rewards to stakers in the platform’s Profit Sharing Pool. fASSETs The way each vault allocates funds for yield optimization is based on a specific strategy devised and pre-programmed by the protocol’s developers. When you deposit funds into a vault, you’re issued fASSETs to represent your share of the investment in the vault. fASSETs are synthetic crypto assets that serve as your deposit certificate to later claim Harvest Finance crypto rewards. Each fASSET corresponds to a deposited cryptocurrency. For example, if you invest USDC, you’ll be issued fUSDC tokens to represent your share in the vault. Source: harvest-finance.gitbook.io As the vaults earn interest, the value of your fASSETs grows. When you decide to withdraw your funds, your fASSETs are burned, and you receive your original funds together with the corresponding interest accrued. Interest Your deposited funds earn compounded interest — that is, interest is measured using annual percentage yield (APY), rather than simple annual percentage rate (APR). Note that an auto-compounding feature is built into all the strategies used by Harvest Finance. Instead of withdrawing your accrued interest, Harvest Finance regularly adds it to the total amount invested in a pool. The total amount is withdrawn only once, when you claim your deposit back. In addition to helping you earn compounded interest, auto-compounding also reduces the overall transaction costs of moving funds between Harvest Finance and its partner DeFi platforms. Source: Harvest.finance Security The security of your funds is protected by a time lock feature implemented by the platform. The time lock is applied to a vault if there’s been a change in the underlying strategy. If the protocol developers decide to modify a strategy, the modifications are announced on the platform and remain in a pending state for 12 hours. During this time, if you don’t like the new strategy, you can withdraw your funds. When the 12-hour waiting period expires, the new strategy is implemented. The time locks allow you to evaluate changes to vault strategies in a transparent manner and with a reasonable notification period, benefits sorely lacking on many other yield optimization platforms. What Is FARM Token? FARM is Harvest’s primary cryptocurrency. It’s an ERC-20 token used to provide various incentives to the platform’s users. A key incentive includes rewards for staking in the Profit Sharing Pool. Vault depositors also earn FARM tokens as part of their rewards, in addition to benefiting from the growth in the invested fASSETs. FARM is also a governance token. Holders of FARM typically vote on key issues concerning the platform. Examples include a vote on reimbursing the victims of the October 2020 flash loan attack, and voting on changes to the token’s supply mechanism. FARM was initially slated for a supply limit of 5 million. However, soon after the platform’s launch, its governance community voted to limit the supply to 690,420. An unusual feature of the token is that its supply wasn’t pre-minted at launch. Instead, FARM is regularly minted each week, with 70% of the new supply going to the platform’s liquidity needs, 20% allocated to its Operational Treasury and 10% sent to the development team. The regular weekly mint and its dependence on the liquidity needs of the platform have likely caused the total supply of the token to exceed the 690,420 limitation. Per the token’s indicators on the leading crypto data portals, FARM’s total supply now stands at 701,936 (as of November 13, 2022). The token’s market cap is around $19 million. Harvest Finance Price Prediction The FARM token started trading in early September 2020 at an initial price of over $5,000. Within two days on the market, it dropped to more sustainable levels of under $200. On October 26, 2020, just before the infamous flash loan attack was spotted, FARM was trading at $234.05. As a result of the attack, many people decided to sell Harvest Finance tokens and FARM fell to $86.31 by October 29. The token’s price slowly but steadily recovered over the next few months, reaching its post-attack max of $410.84 by mid-February 2021. However, over the following 1.5 years, a combination of factors — the overall crypto market turbulence and crashes, new yield aggregation protocols entering the market, and the firm establishment of Yearn Finance as the dominant category leader — have led to a decline in FARM’s value. By the time of writing (November 13, 2022), the token trades at just $28.45, a far cry from its first days on the market. Source: CoinGecko.com Despite its decline in fortunes, FARM is a token with significant future growth potential. As the crypto market slowly recovers, and Yearn Finance sees its previously overwhelming category leadership diluted, FARM is expected to grow with strength. DigitalCoinPrice projects that the token will reach $89.65 by 2025 and $182.84 by 2030. PricePrediction portal is even more bullish, expecting FARM to reach a maximum of $149.42 by 2025 and $991.95 by 2030. Is Harvest Finance Crypto a Good Investment? FARM might be a great investment if you don’t mind altcoins on the riskier side. The leading forecasting portals are expecting it to hit significantly higher levels in the mid-to-long term, compared to the token’s current price. At the same time, the high potential profits are accompanied by the risks inherent in coins of this type. Among the pros of FARM are: Significant growth potential predicted by the leading forecasting portals. Overall growth in the complexity of DeFi and yield farming; this complexity will likely benefit automated yield aggregators, such as Harvest Finance. The track record of being able to recover from a devastating flash loan attack and still be a notable, even if no longer large, market player, which points to the platform’s overall resilience. The key risks/drawbacks of FARM include: An anonymous team of developers in charge of the vault strategies. The anonymity is less than ideal, though not necessarily detrimental to the platform’s performance. In general, the volatile nature of yield aggregation protocols as a segment of the DeFi industry. The Future of Harvest Finance Harvest Finance is an attractive project with significant growth potential. Having declined to a medium-sized player position among yield aggregators, the platform is expected to make a recovery to a more prominent role in the category, at least judging by its price forecasts. The continual fragmentation of the yield aggregation market represents both challenges and opportunities for Harvest Finance. The platform’s future performance will depend entirely on how the project’s team reacts to this market development. Source: Harvest Finance: Crypto Passive Yields Through Farming | Bybit Learn
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Russian President Vladimir Putin Called For The Creation Of An Independent And Blockchain-Based Settlement Network

InstaForex Analysis InstaForex Analysis 28.11.2022 10:28
Crypto Industry News: Russian President Vladimir Putin has criticized the monopoly in global financial payment systems and called for the creation of an independent and blockchain-based settlement network, speaking at the international AI Journey Conference in Moscow. At an event organized by Sberbank, Russia's largest bank and the government's main lender, stated: "Digital currencies and Blockchain technology can be used to create a new system of international settlements that will be much more convenient, completely safe for its users and, most importantly, will not be dependent on banks or third-country interference. I am convinced that something like this will definitely be created and it will develop, because no one likes the diktat of monopolists, which harms all parties, including the monopolists themselves. "The existing system of international payments is expensive, the system of its correspondent accounts and regulations are controlled by a narrow club of states and financial groups," the Russian president noted. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls bounce above the local trend line resistance, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $16,793. The momentum bounce from the extremely oversold market conditions was very short-lived and now the indicator is back under the level of fifty. Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302752
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

Metaverse Can Achieve The Title Of The 2022 Oxford Word Of The Year

InstaForex Analysis InstaForex Analysis 28.11.2022 10:34
Crypto Industry News: "Metaverse" is one of the main contenders for the 2022 Oxford Word of the Year, the Oxford University Press (OUP) announced, in a sign that this particular word is becoming concrete in the public mind. Oxford University Press, the publisher of the Oxford English Dictionary, announced three final words or terms for 2022 on Tuesday: Metaverse, #ISstandWith and Goblin Mode. "In the word 'Metaverse', we see a conceptual future brought into the vernacular in 2022," OUP wrote. Metaverse occupied a prominent place in public discourse this year. The renaming of social media giant Facebook to Meta, and CEO Mark Zuckerberg's subsequent doubling of the company's focus on virtual reality, even as stocks crashed and the company laid off thousands, kept the metaverse in the first place for both investors and the general public. Meta also spearheaded the creation of the Metaverse Standards Forum, which includes tech giants Microsoft, Sony, Intel, and nearly 200 others as core members to "support interoperability standards for the open metaverse." This means that the metaverse has been in the announcements of virtually every tech company in the last 12 months. Notably absent from the list of Forum members is Apple, which seems to be hiring to build its own meta world to compete with Meta. Technical Market Outlook: The ETH/USD bounce had been capped at the level of $1,231 and the market reversed back inside the range. The intraday technical resistance is located at $1,231 and $1,1288. The momentum is weak and negative, so the move down might be continued towards the level of $1,104 or $1.073. The intraday technical support located at the level of $1,174 had been broken as well. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302753
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

The Cryptocurrency Failed To Build On The Success Of The Trading

InstaForex Analysis InstaForex Analysis 28.11.2022 12:08
The new trading week on the crypto market started with minimal price movements and slight bearish dominance. In general, the classic post-weekend situation with low trading volumes and minimal volatility persists. Despite the subsiding volatility, the market is still waiting for resolution of several key crises. The main one concerns the likely bankruptcy of Gemini, which could become another "black swan" of the crypto market. The situation in the mining industry is also worsening, as the difficulty of mining has increased by 0.5% after another recalculation. As a result, we are seeing one of the biggest capitulations of mining firms in the last seven years. The positive news is that the process of capital redistribution continues. The number of addresses holding at least 1 BTC has reached an all-time high. Similar dynamics can be seen among "sharks" and "whales," which indicates the active work of long-term investors. BTC/USD Analysis At the end of the previous week, Bitcoin confidently defended the $15.5k key support level. Subsequently, the cryptocurrency price resumed upward movement and reached a local peak at $16.6k. The main boundary of $16.1k, which restrained the bullish potential, was broken. However, over the weekend, the cryptocurrency failed to build on the success of the trading week, and the price began to slowly slide towards the lower boundary of the fluctuation range. At the same time, we saw a serious resistance of buyers, which can be seen from the uncertain red candlesticks. As a result, as of November 28, Bitcoin failed to make a downward breakout of the $16.2k level, which became a local support zone and a bridgehead for further upward movement. If the asset holds $16.2k at the end of the current trading day, the bullish idea with a move to the $16.8k–$17.1k range remains valid. The technical metrics of the asset indicate a drop in trading activity. The RSI index and stochastic are declining to the lower boundary of the bullish zone, indicating a drop in buying interest following the weekend. However, the MACD completed its bullish crossover, which resulted in a bearish divergence on the charts. This might indicate an emergence of a local upward trend. Over the weekend, the bears did not have enough forces to cut the price down, in spite of the fall of the trading activity, which is a direct evidence for the bulls to take the initiative. Results Last week's strong defense of the $15.5k level was the catalyst for buying activity. As a result the bulls managed to reach the $16.6k level and hold the $16.2k support zone. This gives hope for the emergence of a local upward trend this week. For this, Bitcoin needs to hold the $16.2k level and continue moving towards the $16.8k–$17.1k range. These are the main bullish targets for the price movement this week. However, it is important to understand that there are several "powder kegs" in the market, such as Gemini, and therefore the possibility of an unpredictable decline always remains.   Relevance up to 09:00 2022-11-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328302
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

The Lowest BTC Mining Revenue | Singapore Bank DBS Is The First Asian Bank To Use JPMorgan’s Blockchain-Based Fixed Income

Crypto.com Accelerate the... Crypto.com Accelerate the... 28.11.2022 14:32
BTC mining revenue is at a 2-year low. AAVE proposes governance changes. Blockchain venture capital investments are down in October. Weekly Market Index Last week’s crypto market prices were up slightly at +1.99%, while volume and volatility dropped by -14.48% and-2.34%, respectively. News Highlights The total Bitcoin mining revenue fell to a two-year low of US$11.67M due to the declining Bitcoin (BTC) price and heavier computational demand from rising network difficulty. Blockchain venture capital investment decreased in October to US$0.84B compared to US$1.64B in September. The number of individual deals dropped from 93 to 69.  Due to the recent attempt to exploit DeFi protocol Aave (AAVE) via short-selling, project contributors have proposed governance changes. One proposal is for temporarily freezing a list of token markets, including Curve DAO Token (CRV), on Aave v2. Singapore bank DBS said it has become the first Asian bank to use JPMorgan’s blockchain-based fixed income trading network Onyx. The Onyx Digital Assets network uses tokens for short-term trading in fixed income markets. Crypto wallet downloads reached 100 million in 2022 for both iOS and Android devices comprising over 21 wallet applications that allow storage.     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy?         Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs.   Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.   Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
Effects of the FTX crash are here to stay. Traders are said to stay vigilant

Effects of the FTX crash are here to stay. Traders are said to stay vigilant

Craig Erlam Craig Erlam 28.11.2022 19:20
It’s been a pretty quiet start to the trading week, with the negative session in Asia continuing into Europe and the US ahead of the open on Wall Street. Chinese stocks have been hit particularly hard amid unrest over Covid restrictions. The protests really do highlight how increasingly frustrated the public is becoming with the leadership’s zero-Covid policy, even if it has been modestly relaxed recently. Record cases across multiple cities are putting the policy to the test and the unrest highlights the enormity of the challenge facing President Xi Jinping and his commitment to zero-Covid. The combination of these creates huge uncertainty, both in terms of how the protests are handled and what the whole experience means for the future of the policy and the economy. It comes at a time when Chinese stocks had been boosted by the prospect of the policy being relaxed, with more easing expected in the spring. So much now is uncertain which may continue to weigh on sentiment until we get a better idea of the direction of travel. Despite how much time has passed and what other countries have achieved, it would appear China is not prepared for a significant loosening of restrictions which could mean that frustration we’re seeing continues to bubble over. The rest of the week promises to be extremely lively with the US returning from the Thanksgiving holiday and the calendar packed with big-hitting economic data from around the globe. That includes what is normally considered the biggest of the lot – maybe now second behind inflation – the US jobs report to wrap up the week. Buckle up, it could be a bumpy ride. Cryptos on the ropes Bitcoin remains under pressure despite recovering slightly last week. Cryptos are still suffering the fallout from the FTX collapse and the still unknown full extent of the contagion. Not to mention the fact that traders will now be hyper-alert to similar vulnerabilities elsewhere in the crypto world. The fact that risk appetite is weak today also won’t be helping and bitcoin is off around 2% as a result and not far from $16,000. While it’s seemingly trying to form a base around $15,500-17,000, it may be easier said than done in this environment. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Stock slide amid China unrest - MarketPulseMarketPulse
The Ethereum Has Located Just Above The Key Short-Term Technical Support

Price of Ether declines as COVID reality in China discourages investing in risk assets

FXStreet News FXStreet News 28.11.2022 16:10
Ethereum price slips over 1.5% in ASIA PAC trading on Monday after riots and protests across China. ETH gets global selling pressure as financial markets are dipping as well. Expect to see another leg lower in search of support together with all other asset classes. Ethereum (ETH) price saw a lackluster weekend regarding its price action and performance. On Saturday, some hopes were there that the pivotal level at $1,243 could get a test, but bulls never made it up that far. Instead, prices slipped lower on Sunday, and this morning, on the back of widespread social unrest in China that is hardly ever seen, overall markets are choosing to go with a risk-off tone for today. Read next: Farmers In China Suffer From Covid Restrictions| FXMAG.COM ETH slips below an important line in the sand Ethereum price is playing a dangerous game this morning as it came under pressure from a global risk-off tone triggered by pictures and videos on social media from China. Several cities have reported social unrest and called Xi to step down as the lockdown measures are starting to hit people’s morale. As this is very rare in China, this form of rebellion could start to weigh on several performance numbers from producers that are very dependent on local production in China. Apple has already come out this morning with a statement that it is falling behind on its delivery promises for its most recent iPhone. ETH currently flirts with the red descending trend line in the sand, refraining from ETH to make lows again toward $1,074. Unfortunately, if markets do not change sentiment throughout the day, the risk is that it will dip lower toward that mentioned level. The trade becomes a bearish triangle again, with $1,074 as the base and set to break lower to $1,014, which would carry a 15% loss. ETH/USD daily chart Although sentiment at the beginning of this week looks bearish, some social unrest in China may not immediately trigger a sell-off in the US later today or in the coming days. The same goes for the situation in Ukraine, which is showing fatigue and does not cap equities from rallying anymore. Expect later this week to see Ethereum price hit $1,243 and get ready for a pop higher toward $1,337 at the 55-day Simple Moving Average.
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Cryptocurrency market - outstanding CELO's performance

ByBit Analysis ByBit Analysis 28.11.2022 23:26
Chart of the Day      Growing unrest in China over Covid restrictions have sent shivers through the global markets, with stocks sliding during Asian trading hours and the dollar advancing. The political tension added stresses to an already-fragile global market, and the impact may have rippled to the crypto markets. After closing on a slightly positive note last week, BTC kicked started the new week with some shades of red. As of the time of writing, the largest cryptocurrency by market cap is trading near the $16.1k level after shedding 2.5% of its market value in the last 24 hours. Historical on-chain data suggests that BTC price will likely reach a macro cycle bottom when 58% to 61% of the supply are in unrealized loss, as indicated in orange. The green shading represents coins locked up inside the Grayscale’s BTC Trust, which is now trading at a 40% discount.    In a similar vein, ETH is now changing hands at the $1,100 handle, after posting a 4% decline in the same period. Mid-to-large altcoins are submerged in a sea of red, with LTC and SOL leading the downside correction on a 6.7% decrease in a similar time frame.    Market Check   Weekly Gainer    CELOUSDT   While major cryptocurrencies stabilized over the past week, several altcoins outperformed the broader market with staggering double-digit gains. Celo Network’s native token, CELO, is up 54.2% week-on-week, with a major technical-driven pump on Sunday. The jump came a few days after the launch of Curve Finance on the Celo network and the partnership announcement between Consensys and Celo to improve multichain support and scalability. Network fundamentals are improving, with the number of active developers doubling in the past month. The total value locked on the protocol, too, has surged by nearly 50% to $121 million since a week ago.     On the 1-day chart, CELO recently broke out from weeks-long resistance near the 50-day EMA and is now testing the next resistance level near the 100-day EMA. The trading volume has reached levels last seen in May, suggesting the outperformance is well supported by speculative capital. Meanwhile, RSI on the daily chart is on the high end but remains within the neural territory.    Check Out the Latest Prices, Charts, and Data for CELOUSDT!   Talk of the Town      Despite dampened sentiments in the crypto space, the week dedicated to celebrating the art scene with a twist of web3 is about to unfold in Miami. After first rising to prominence in the art scene, the Art Basel Miami Beach Fair gradually adopts a technical edge by weaving nascent concepts such as web3 and NFT into the experience. Apart from hosting the MiamiWeb3 Summit and DCENTral Miami, the biggest DeFi and NFT web3 conference, the week will also feature a five-day festival that spans 12 buildings and two city blocks, offering unparalleled web3 experience. The collaboration with Tezos will also allow visitors to mint NFTs in real-time. Source: Bybit Blog | On-Chain Model Points to Bottom Formation; Miami Prepares for Web3 Week
There Are Many Ways To Join A Crypto Community

Kenya, Nigeria And South Africa Lead The Way With The Largest Number Of Cryptocurrency Users

InstaForex Analysis InstaForex Analysis 29.11.2022 09:45
Crypto Industry News: According to a blog post published this week, the International Monetary Fund believes that the collapse of the Sam Bankman-Fried FTX exchange should serve as a warning to African nations about the threats cryptocurrencies pose to their economies. "Regulating a highly volatile and decentralized system remains a challenge for most governments, requiring a balance between minimizing risk and maximizing innovation." Only 25% of sub-Saharan African countries regulate cryptocurrencies, although two-thirds have implemented some restrictions and six countries have banned cryptocurrencies altogether. "Africa is one of the fastest-growing cryptocurrency markets in the world," the authors wrote, citing Chainalysis data, "but it remains the smallest market, with cryptocurrency transactions peaking at $20 billion a month in mid-2021." Kenya, Nigeria and South Africa lead the way with the largest number of cryptocurrency users in the region, with many people using cryptocurrencies to make payments. The authors note that policy makers are concerned that cryptocurrencies "could be used to illegally transfer funds out of the region" and could also be used to circumvent rules designed to prevent capital flight. Technical Market Outlook: The BTC/USD pair has made a new yearly low at the level of $15,477 as the bearish pressure is still strong. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high). The bulls bounced above the local trend line resistance, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $16,793. The momentum bounce from the extremely oversold market conditions was very short-lived and now the indicator is back under the level of fifty. Whipsaw trading conditions inside the range continue. Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-11-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302939
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

The Economic Committee Of The European Parliament Approved The Cryptocurrency Markets Act's (MiCA) Framework

InstaForex Analysis InstaForex Analysis 29.11.2022 09:48
Crypto Industry News: In June, the President of the European Central Bank (ECB), Christine Lagarde, said that MiCA II, or additional European regulations of the cryptocurrency market, "should regulate activities involving staking and lending of cryptocurrencies." Now she's back on the subject. Christine Lagarde wants MiCA II Christine Lagarde once again called the regulation and supervision of cryptocurrencies an "absolute necessity". In her opinion, this process - i.e. market regulation - should accelerate especially after the collapse of the FTX cryptocurrency exchange. During a November 28 hearing before the European Parliament's Committee on Economic and Monetary Affairs, Lagarde cited Facebook's Libra as an example of the ECB's commitment, which "helped to stop some players" from entering the cryptocurrency market. However, she said that the situation with FTX was more about "stability and reliability of the stock exchange. He adds that the ECB needs to strengthen its role as a regulator to respond to people's growing interest in digital assets. "At least Europe [on regulation] is ahead of the rest," the ECB president said. "But as I said before, it is one step in the right direction. It's very much needed," she added. The Cryptocurrency Markets Act (MiCA) is undergoing legal and linguistic verification. The economic committee of the European Parliament approved its framework and assumptions in October - this happened after trilateral negotiations between the EU Council, the European Commission and the European Parliament. Many expect the new EU cryptocurrency policy to take effect from 2024. Technical Market Outlook: Despite the fact, that the intraday technical support located at the level of $1,174 had been broken, Ethereum has reversed all the yesterday's losses and is trading back close the recent local high around $1,231. The intraday technical resistance is located at $1,231 and $1,1288. The momentum is back to the positive territory, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-11-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/302941
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Investments in crypto funds slid noticeably - Coinshares. The leading cryptocurrency suffers from situation in China

Alex Kuptsikevich Alex Kuptsikevich 29.11.2022 10:06
Bitcoin suffers from China's realties Bitcoin declined on Monday along with stock indices, testing six-day lows near $16K, following a decline in demand for risky assets due to unrest in China. Near this round level, the first cryptocurrency saw a demand, and in early trading on Tuesday, cryptocurrencies rose more actively than traditional markets, bringing the price of Bitcoin back to $16.5K. According to CoinMarketCap, total capitalisation rose 2.2% overnight to $835bn, while the top coins add between 2% (Cardano) and 9% (Dogecoin), and Ethereum is again hovering around $1200. Read next: Meta fined by Irish regulators amidst privacy concerns| FXMAG.COM The cryptocurrency market is showing signs of buying on the downturn and has been performing better than stocks for the past 24 hours, bolstering buyers' hopes. Major players continue to go bust, adding the BlockFi platform to the list, and Hong Kong exchange AAX is having problems. The market seems to be taking this news as part of the sector's recovery process, with weaker projects leaving. According to Glassnode, traders with less than 1 Bitcoin have bought over 96K BTC, since FTX collapse  Santiment notes that wallets with large balances (100-10,000 BTC), after three weeks of net sales of 1.36% of total volume, have accumulated 0.24% in the last five days. It looks like the whales may be about to stop selling. Meanwhile, Glassnode claims smaller players are increasingly buying bitcoin on the dips. Investors with less than 1 BTC balance have added 96,200 BTC to their total holdings since the FTX crash. According to CoinShares, investments in crypto funds fell by $23 million last week, with the outflow of funds the highest in 11 weeks. Bitcoin investments decreased by $10m, and Ethereum by $6m. Investments in funds allowing shorts on bitcoin increased by $9m. Negative market sentiment persists after the FTX collapse, CoinShares noted. Regulators could take years to catch up and successfully control the cryptocurrency industry, so the industry needs to learn how to do it independently, says billionaire Bill Eckman.
The Current War Between China And The United States Over Semiconductor Chips Is Gaining Momentum

China Protests Hit Apple | BlockFi Files For Bankruptcy

Swissquote Bank Swissquote Bank 29.11.2022 10:34
The week started with a selloff across global equities. Unrest in China due to protests against the Covid zero policy combined with the Federal Reserve (Fed) members’ hawkish comments led to an early week selloff in both Asian, European and US equities. Crypto Market In cryptocurrencies, it was another day of bankruptcy news. This time, the crypto lender BlockFi, which had strong ties with FTX announced to file for bankruptcy. Bitcoin eased but didn’t damage important support on the news, while Coinbase dived another 4%. Stocks Market Elsewhere, the S&P500 lost 1.54% on Monday, as Nasdaq slid 1.43%. The US dollar traded up and down as US crude fell to $73pb then rebounded to flirt with the $80pb this morning, despite the Chinese slowdown worries. Expectation that OPEC would use the Chinese unrest as excuse to restrict outlook boosted bulls’ appetite. Fed There is still hope that Fed President Jerome Powell talks about slower rate hikes at his speech this week, but again, his words shouldn’t be heard halfway through. The Fed is willing to slow the pace of rate hikes to avoid going too far. But if they slow down, it’s also because they want to go higher than 5%. Watch the full episode to find out more! 0:00 Intro 0:24 China unrest, hawkish Fed comments hit sentiment 1:00 Fed remains haw-kish! 3:34 What does China developments mean for markets? 4:29 Why did crude oil rebound? 6:34 Ghana wants to buy oil with gold 7:00 China protests hit Apple, VW, but Chinese ADRs rebound 8:20 BlockFi files for bankruptcy Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #China #Covid #protests #Apple #Foxconn #VW #Fed #expectations #USD #XAU #crudeoil #Chevron #Venezuela #Bitcoin #BlockFi #FTX #bankruptcy #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
It is estimated that Sam Bankman-Fried, FTX and the Alameda Research fund could be linked to over 150 other entities in the industry. – Geco.one

It is estimated that Sam Bankman-Fried, FTX and the Alameda Research fund could be linked to over 150 other entities in the industry. – Geco.one

Geco One Geco One 29.11.2022 10:33
Bitcoin (BTC) After the first half of November this year, Due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between $16,000 and $17,000. However, there are many indications that this is only a form of correction, after which the quotations of BTC could return to a downward path. One must remember that the BTC exchange rate has been in a downward trend for over a year, and this trend has stayed the same at any time. Therefore, from a purely technical point of view, there is no reason to forecast a more significant rebound. In addition, it is also worth noting that the observed in the first half of November this year the decline was extremely dynamic, which may indicate that it was an impulsive move, while the rebound observed for several days is exceptionally calm, which suggests that it is only a form of another correction. Given all this, the bankruptcy of FTX has already been officially announced. As a result, its further negative impact on the cryptocurrency market may be limited; the scale of bankruptcies of subsequent companies associated with this exchange will be of crucial importance. It is estimated that Sam Bankman-Fried, FTX and the Alameda Research fund could be linked to over 150 other entities in the industry. This also meant that many of them were on the verge of bankruptcy almost overnight. So it is far too early to open the champagne and announce another bull market. In practice, there is still a high probability of further sale-off not only of BTC but also of the vast majority of cryptocurrency projects. According to the popular opinion that "after every storm, the sun comes out", and just like in previous years, when after each of the previous bubble bursts, the cryptocurrency market returned to the path of growth, breaking new ATH; it can be expected that this time it will be similar, although probably we'll have to wait a little longer for that. Several factors may account for this: First, every topic, including every problem, sooner or later becomes commonplace, and the financial markets pass over it daily. This was the case with the collapse of Mt.Gox in 2014 (the largest cryptocurrency exchange in the world at that time) or QuadrigaCX in 2019 (the largest cryptocurrency exchange in Canada, about which Netflix even made a documentary). Second, the Federal Reserve is nearing the end of its monetary policy tightening cycle, and while Fed interest rates are likely to remain high for most or even all of 2023, in 2024, the Fed is likely to embark on an easing cycle that, like in 2020, could contribute to the growth rally on risky assets such as stocks or cryptocurrencies. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by an extremely optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of previously defeated support (now resistance). This increase, however, lasted only one day and then from November 11th this year. The ETH rate fell again, returning to the USD 1100 region, where on November 22nd, there was a demand reaction again. Later increases, however, stopped near the local resistance of USD 1,220, where, in turn, there was already a slight supply reaction last weekend. If only this barrier is rejected, the rate of this cryptocurrency could fall again to the region of USD 1,100 or even further to USD 990. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between November 5th and November 9th, falling to the lowest level since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on November 10th, it went up by over 22%. It is worth noting that although the increase stopped for several days in the area of ​​the previously defeated support of USD 106, this resistance was finally overcome, and the BCH rate reached almost USD 120. However, the downward trend observed for several days meant that we are now witnessing another test of support in the area of ​​106 USD. Therefore, there are many indications that we will observe some trend (up or down) in the near future, it will directly depend on the reaction (demand or supply) that will appear in the vicinity of the currently tested support, signalling its potential rejection will be defeated. A break below this level could open the door for further declines below USD 90. At the same time, the emergence of greater demand pressure and a rebound from the currently tested zone could serve as an impulse for another increase towards USD 125. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35 per cent. This sell-off stopped only in the area of ​​technical support in the area of USD 50, where on November 10th, there was quite an apparent demand pressure. However, due to the subsequent appreciation, the LTC exchange rate increased by over 74 per cent, more than making up for earlier losses. It is worth noting that this increase led to overcoming the technical resistance levels of USD 64.50 and USD 73. It stopped only in the area of ​​the uptrend lines tested from June to September, where a supply reaction appeared a few days ago. The ongoing declines since then led to a re-test of the previously broken $73 resistance. However, the LTC rate will drop below this barrier soon. In that case, we could expect its further depreciation towards USD 64.50 and measuring a 50% Fibonacci retracement from the previous upward move. Polygon (MATIC) After bouncing off the $1.30 technical resistance, the Polygon (MATIC) cryptocurrency fell more than 41% between November 5th and November 9th. Although on November 10th, this cryptocurrency made up for the vast majority of these losses, increasing by over 52%, we have been observing its decline again since November 11th. It is noteworthy that the MATIC exchange rate recently fell below the local support of USD 0.87, which remains until today. If the declines continue, in the near future, we could expect technical support to be re-tested in the region of USD 0.74 or, even further, USD 0.61. XRP XRP fell between November 5th and November 9th by more than 38%. This sell-off led to breaking the horizontal support in the region of USD 0.42 and stopped only around the next significant level of USD 0.32, where on November 10th, there was an apparent demand reaction. Since then, the XRP exchange rate has alternately fallen and increased, staying in the range of USD 0.32 to USD 0.42. Therefore, taking into account its rebound from the upper limit of this range, observed last Saturday, we could expect another drop towards USD 0.32 in the coming days or possibly even to USD 0.30, where the next level of support is located. EOS Looking at the EOS quotes, we will notice that the exchange rate of this cryptocurrency has been in a horizontal trend between the support of USD 0.80 and the resistance of USD 1.00 for over two weeks. Taking into account the supply reaction that appeared last weekend around the upper limit of this system, over the next few days, we could expect further declines towards its lower limit, i.e. to the support of USD 0.80.
Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

FTX collapse reaps the harvest. BlockFi filed for bankruptcy

ByBit Analysis ByBit Analysis 29.11.2022 12:43
Chart of the Day      US stocks sank as Federal Reserve officials warned of underestimating the chances of higher rates in light of the Fed’s resolve to curb inflation. Asian stocks rebounded in the early hours of Tuesday as a nationwide protest against China’s “Covid zero” strategy eased. The dollar fell as sentiments improved and risk appetite returned.    In the broader crypto market, major cryptocurrencies rallied despite the fall of yet another major lender amid the spread of the FTX contagion. As of the time of writing, BTC is trading near the $16.5k region after posting a 2% gain in the last 24 hours. The largest cryptocurrency by market cap demonstrated some resilience in its price action despite a wider slowdown in asset activity and further implosions related to the FTX collapse. ETH is up 3.3% in the same period, and is now attempting to establish a stronger footing above the $1,200 handle. Most major altcoins have flipped green, with LINK and a handful of memecoins leading the recovery on double-digit percentage gains in a similar time frame.  Just as the industry continues to absorb the aftershock of recent blows, the amount of synthetic BTC assets on Ethereum continues to fall from its all-time high near 338k in April. The team behind renBTC, who lost their funding after Alameda Research filed for bankruptcy, has halted issuance. The team has decided to gradually phase out the Alameda-tied Ren 1.0, and launch a 2.0 version once they have more funding. WBTC, the largest supplier of BTC on Ethereum, was embroiled in the fear of an impending de-peg over the weekend, but has since restored some confidence after its official custodian assured that WBTC is safe and fully backed.    Market Check   Talk of the Town      Crypto lender BlockFi filed for chapter 11 bankruptcy on Monday, spotlighting the latest contagion effects that have been unleashed by the FTX collapse. According to the firm’s bankruptcy petition, BlockFi claimed more than 100,000 creditors, with $1 billion in assets and $10 billion in liabilities. Bankruptcy gives BlockFi an opportunity to formulate a repayment plan for creditors, and get back what they can from FTX, although potential recoveries are a long way off. The firm’s advisor Mark Renzi acknowledged in a court filing that the “full extent of the fallout from FTX’s collapse remains to be determined”.
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Crypto Roth IRAs May Be Risky Due To Cryptocurrencies’ Price Volatility

ByBit Analysis ByBit Analysis 29.11.2022 13:28
A Roth Individual Retirement Account (IRA) has long been known as a tax-efficient way to save for your retirement. Some Roth IRA providers have started to offer cryptocurrency as an eligible asset under these accounts. This opens up opportunities for crypto investors to leverage the tax advantages associated with Roth IRAs. Crypto Roth IRAs are still a relatively new development, with many of their specifics shrouded in mystery. In this article, we take an in-depth look at this new breed of Roth IRAs. What Is a Roth IRA? A Roth IRA is a specific variety of retirement account approved by the U.S. Internal Revenue Service (IRS) that comes with significant tax benefits. You may open a Roth IRA account at an eligible provider and contribute your after-tax dollars to it to save for retirement. Your Roth IRA contributions and earnings grow tax-free under the account. All contributions to a Roth IRA must be made in the form of cash. While your contributions are not tax-deductible, you can withdraw funds from your Roth IRA completely tax-free after the age of 59½ as long as you’ve held the account for at least five years. You may also withdraw your contributions tax-free at any time without meeting the age and account tenure requirements, but in this case, your earnings will be taxed. Key points for Roth IRAs and taxation Source: Trustetc.com A Roth IRA is a great tax-efficient way to save for your retirement and enjoy tax-free income past the age of 59½. The IRS has put a limit on yearly contributions to a Roth IRA. From 2023, the yearly contribution limit will be $6,500 for those under 50, and $7,500 for those 50 or older. There are also income limits applicable to a Roth IRA. From 2023, you can contribute to your Roth IRA if: you are a single taxpayer with a modified adjusted gross income (MAGI) under $153,000, or you are married, file your taxes jointly with your spouse, and your joint MAGI is under $228,000. A Roth IRA is a relatively flexible retirement account — there are no required minimum distributions (RMDs), and the account may be held indefinitely. A wide variety of financial assets and instruments can be held in a Roth IRA, including stocks, bonds, exchange-traded funds (ETFs), mutual funds and more. Can You Hold Crypto in a Roth IRA? The IRS considers cryptocurrency a form of property for tax purposes. As a legitimate asset, crypto may be held in a Roth IRA. However, you may not contribute cryptocurrency directly to your Roth IRA. Contributions must always be in the form of cash. At the same time, theoretically, nothing prevents you from purchasing cryptocurrencies within your Roth IRA. In reality, most of the traditional Roth IRA providers do not offer crypto as an eligible form of investment under the accounts they provide. This is how Roth IRAs usually work — you’re limited to the asset classes that the account provider offers. However, over the past few years, a new breed of Roth IRA providers specializing in crypto has emerged. These crypto IRA companies offer Bitcoin IRAs and other crypto IRAs. Some of the notable providers in this niche include iTrustCapital, Bitcoin IRA, BitIRA and Equity Trust. Can You Hold Both Traditional and Crypto Investments in a Roth IRA? In general, mixing different assets is very common in Roth IRAs. However, the practical difficulty of mixing alternative assets, such as crypto and traditional investments, under one Roth IRA may limit your choices. Although the niche of crypto IRAs is growing, it’s still very small. Only a handful of Bitcoin IRA companies and other crypto IRA providers have established a firm market presence. Furthermore, some of these providers offer Roth IRAs that are limited to cryptocurrency only. The good news is that you may still find some crypto IRA providers who offer a mix of traditional and crypto assets. For example, iTrustCapital offers cryptocurrencies and two precious metals — gold and silver — as eligible assets for its Roth IRA product. By using the Roth IRA from iTrustCapital, you may gain exposure to crypto as a volatile but high-growth-potential asset, and to precious metals, which have long been regarded as low-risk investments. Additionally, iTrustCapital offers investment in nearly 30 different cryptocurrencies, including all the leading ones, within its Roth IRA product. The 5 most popular cryptocurrencies on the iTrustCapital platform Source: iTrustCapital.com However, if you really like the idea of combining crypto and traditional investments under your Roth IRA, the optimal strategy could be opening two — or even more, if you prefer — Roth IRA accounts. One account, held at a crypto IRA provider, will let you invest in cryptocurrencies, while the other account, held at a traditional IRA provider, may be used for exposure to traditional assets like stocks, bonds and mutual funds. The IRS rules allow you to open multiple Roth IRA accounts, an option that some retirement-focused investors overlook. By opening multiple Roth IRAs, and investing in crypto and other asset classes using separate accounts, you may get around the problem of the limited choice of “mixed-mode” IRAs. Do note, however, that the yearly contribution limit of $6,500 ($7,500 if you’re 50 or older) applies across all your Roth IRAs. Unfortunately, you cannot get around this limit by setting up multiple Roth IRAs. Pros and Cons of a Roth IRA Holding a Roth IRA has several pros and cons as compared to standard retirement accounts. Let’s have a closer look at the advantages and disadvantages of this type of retirement account. Pros of Roth IRAs Tax-free income past 59½. The most obvious advantage of Roth IRAs is the ability to draw tax-free income after reaching the age of 59 and a half. Tax-free withdrawals of contributions before 59½. A Roth IRA is a flexible retirement account. You may withdraw your contributions, but not the earnings, tax-free before 59½. No need for required minimum distributions (RMDs). The majority of standard retirement accounts — including the most commonly used one, the 401(k) — require you to start taking required minimum distributions (RMDs) from the account after reaching a certain age. Roth IRAs have no such requirement. Portfolio diversification in the case of crypto Roth IRAs. You can diversify your overall retirement portfolio by investing a part of your funds in a crypto Roth IRA. This helps you gain exposure to a high-risk/high-reward asset, namely cryptocurrency. This benefit of crypto Roth IRAs is relevant for many, if not most, retirees and pre-retirement age individuals. Retirement portfolios made up of only traditional assets (like stocks and bonds) create an overreliance on these asset classes. While it’s prudent to dedicate the bulk of your funds to low-risk assets, the lack of high-growth alternative assets, such as crypto, limits the income potential of these accounts. Cons of Roth IRAs Contributions are not tax-deductible. While a Roth IRA is great for deriving tax-free income in retirement, your contributions to this account type are not tax-deductible. Earnings withdrawn before age 59½, or before the account is 5 years old, are taxable. You’ll be taxed if you withdraw earnings from your Roth IRA before reaching the minimum age and account tenure requirements. Income limits. Individuals with yearly incomes over $153,000, or $228,000 if filing taxes jointly with a spouse, aren’t eligible for a Roth IRA. Low yearly contribution ceilings. The yearly contribution limit of $6,500 ($7,500 if over 50 years old) across all your Roth IRAs is relatively low, which decreases the utility of these accounts as a tax-efficient vehicle. Alternative Ways of Investing in Crypto Although the crypto Roth IRA market is still young and has a modest number of options, alternative ways of investing in cryptocurrency are available to anyone considering an investment for retirement purposes. These alternatives include crypto funds, staking, and other types of IRAs based on crypto. Crypto IRAs The leading crypto Roth IRA providers, such as iTrustCapital, BitIRA and Bitcoin IRA, also offer crypto IRA accounts. These are essentially traditional IRAs that hold crypto in their portfolios. The key difference between these IRAs and Roth IRAs is how your contributions and withdrawals are treated from a taxation perspective. With Roth IRAs, your contributions aren't tax-deductible, but your future withdrawals in retirement are. In contrast, you receive a tax break from your contributions to traditional IRAs, but you get taxed for your withdrawals after retirement. Experienced investors may be interested in self-directed IRAs, which can hold diverse alternative assets and are available as either traditional or Roth IRA. Traditional investment providers are also likely to expand soon into the niche of crypto retirement accounts — and become formidable competitors to the IRA providers specializing in crypto. For instance, Fidelity Investments, the largest retirement investment provider in the U.S., announced in April 2022 that it plans to start providing a crypto option for its 401(k) accounts. It’s likely just a matter of time before Fidelity and its key competitors expand the crypto option to IRAs and Roth IRAs. Crypto ETFs Planning for your gray years doesn’t have to be limited to retirement accounts only. Other investment account types are also a great option for a good income stream later in life. One of these account types is an exchange-traded fund (ETF), specifically a crypto ETF. Crypto ETFs allow you to mix your investments in crypto and traditional asset classes in a product that may be traded on the stock exchange. These ETFs are a great option for a hands-off approach to investment management. Crypto Funds Other fund types — e.g., mutual funds, index funds and trusts — are suitable for a passive, hands-off approach to investment. Many of these funds offer a mix of crypto and traditional assets, while some are based solely on cryptocurrency products. For instance, the world’s largest crypto fund vehicle, Grayscale Bitcoin Trust (GBTC), allows you to own Bitcoin as an index-based product, without having to purchase it directly. Crypto Staking Another option for low-risk investment in crypto is staking, which was initially associated with locking your funds on a blockchain network to help process transactions. Over time, staking has also come to refer to a variety of crypto investment products on centralized exchanges (CEXs) and other crypto trading platforms. For example, Bybit Savings lets you invest in crypto to derive low-risk, principal-guaranteed, high-yield income. Final Thoughts Granted, crypto Roth IRAs may be risky, due to cryptocurrencies’ price volatility. However, they do come with significant tax benefits, and they allow exposure to crypto, an asset class with high growth potential. For now, the landscape of crypto Roth IRAs is relatively limited, with several specialized providers on the market. However, traditional retirement investment providers are likely to join the race in the not-so-distant future. When they do, your product options will expand significantly. In the meantime, don’t forget that retirement planning isn’t limited to Roth IRAs or other types of retirement accounts. Alternative products, like Bybit Savings and other crypto fund types, are also a solid option for low-risk investment for your best years ahead.     search   g_translate    
US Treasury Rates Hold Strong as Inflation Report Looms, Dollar Resilience Continues

Metaverse Is Providing Opportunities For Both Its Users And The Virtual Economy To Proliferate

ByBit Analysis ByBit Analysis 29.11.2022 13:34
The metaverse has transitioned from fiction to reality virtually right before our eyes. Metaverse Index stands poised to capitalize on the excitement surrounding this growing trend. By providing traders with exposure to several tokens rather than just one, Metaverse Index has forged a novel way to participate in the expanding metaverse and profit from the rise in virtual economies as a whole. In this article, we dive deep into MVI (Metaverse Index) to explain what it is, how it works and where its average price is expected to go today, tomorrow and a decade from now. What Is Metaverse Index?   Metaverse Index is a cryptocurrency index product consisting of a basket of tokens designed to track social, economic, business, entertainment and sporting trends as they shift toward virtual environments.   The metaverse is a boundless interactive cosmos that’s designed to provide opportunities for both its users and the virtual economy to proliferate and flourish. Investing in the metaverse can be done in any number of ways, the most common one being the purchase of The Sandbox, Enjin Coin and other metaverse-related tokens. However, much as savvy investors choose ETFs and index funds that track the S&P and other stock markets for relatively stable long-term gains, investors can take the same “basket” approach with the metaverse and crypto markets by investing in Metaverse Index, or MVI. Introduced by Index Coop in 2021, Metaverse Index is a liquidity-adjusted, root capitalization–weighted index, developed to capture and capitalize on the increasing trend shift toward virtual reality via its MVI token. This ERC-20 token represents the index, which is a collection of various Ethereum-based tokens chosen according to a strict set of metrics. In other words, Metaverse Index aims to tokenize the virtual worlds of the metaverse by providing a single investible token, MVI. Representing 16 tokens tied to the metaverse in one form or another, MVI can be viewed as a representation of the strengthening or weakening of virtual reality and crypto trends. Rather than forcing investors to place all of their hopes on the performance of a single token, Metaverse Index allows them to spread their risk across several tokens and potentially profit from their cumulative overall performance. As such, MVI and other metaverse index funds, such as DeFi Pulse Index, can be viewed as viable entry points for metaverse newcomers. What Is an Index Fund? Metaverse Index is one of many products developed by Index Coop, a DAO specializing in the creation of cryptocurrency index tokens. Crypto index funds (tokens), such as Metaverse Index, provide traders with broader exposure to crypto markets, the metaverse and specialized industry segments, allowing them to engage in trading in a simpler, more streamlined fashion. Index Coop offers a number of different index fund tokens. Tokens for each index are selected according to specific criteria. The Metaverse Index fund captures 16 metaverse-related tokens, including Enjin Coin (ENJ), Illuvium (ILV) and Decentraland (LAND), among others. By grouping these tokens into one single token in the form of MVI, Metaverse Index aims to offset the volatility inherent to investments in individual tokens. In addition to greatly minimizing volatility, an index fund also greatly reduces gas fees, commissions and trading fees for stocks and traditional investments. Rather than paying fees for each individual token, traders can maximize profits by paying much less in fees for the same amount of exposure. This is the beauty of index funds. By allowing traders to invest in baskets of tokens, stocks or other securities, they minimize the risks and volatility associated with trading individual assets, while simultaneously creating savings in the form of fewer gas or trading fees. Considering the significant short- and long-term growth forecast for the crypto/DeFi/metaverse space, it’s a win-win, depending on the tokens selected for the fund. Index funds take market capitalization, liquidity history, security features and more into consideration when deciding which tokens they’ll include. Origin of Metaverse Index Metaverse Index was launched in 2021 by Index Coop, short for Index Cooperative, as a means for traders and investors alike to profit from the rise in metaverse popularity as it continues to permeate all aspects of society and create new cultural norms. With the financial backing of Sequoia Capital, White Star Capital, Blockchain Ventures and other venture capitalists, Metaverse Index was collectively launched by Index Coop’s founders, without any third-party involvement. How Does Metaverse Index Work? Since the Metaverse Index token is an index fund product, it has no tokenomics or issuance/supply schedule, as typical tokens on the crypto market do. The token represents not one, but an assortment of 16 tokens with varied allocation. Let’s take a look at how it works. Constituent Weighting The folks at Index Coop use constituent weighting when selecting which tokens to include in the Metaverse Index fund. This means each individual token (constituent) in the fund is weighted according to its market capitalization. The weighted aggregation of all constituent prices is used to help calculate MVI’s value. Each constituent must meet certain requirements regarding market exposure, market capitalization and liquidity in order to be selected for the index. The basic criteria include: The token must exist on the Ethereum blockchain, and have consistently reasonable DEX liquidity on Ethereum as well. Total market capitalization must exceed $50 million. Protocol must belong to the NFT, VR, Entertainment or Music category on CoinGecko. Protocol must have a minimum of three months of operational, price and liquidity history. Token must undergo and pass an independent security audit. Index Calculation Metaverse Index uses a combination of liquidity weighting and root market cap to determine the final index weights. For all of the math lovers out there, here is the formula: TW = (75% × RMCW) + (25% × LW) TW = token weight LW = liquidity weighted allocation RMCW = square root of market capitalization–weighted allocation Index Maintenance Metaverse Index is maintained every three months in two separate phases, the determination phase and the rebalancing phase. During the first phase (determination phase), the protocol must be listed as belonging to specific token categories on CoinGecko. Once the outcome of the determination stage is published, and the token has been confirmed as belonging to an appropriate category, the index will enter the rebalancing phase where the index composition will change to reflect the new weights. The change in weighting as a result of this maintenance is reflected during the following quarter. Which Tokens Are Included in the Metaverse Index? The investment universe of Metaverse Index includes a variety of tokens within CoinGecko’s NFTs, entertainment, music, augmented reality and virtual reality categories, each one with at least 90 days of trading history and a market cap of $50 million or more. The following is the complete list of tokens that meet these requirements and are included in the Metaverse Index. Audius Audius is a music streaming blockchain protocol designed to bridge the gap between content creators and their fans. Axie Infinity   Axie Infinity is a popular game leading the play-to-earn (P2E) revolution. The game’s governance token is AXS.   Decentraland Decentraland is the very first completely decentralized metaverse universe. MANA is the native currency used throughout the game. Decentral Games Decentral Games is a metaverse casino located within Decentraland that players can own and operate via the DG governance token. Enjin Enjin is an important piece to the Metaverse Index puzzle. Its utility token, ENJ, is responsible for driving Enjin’s NFT economy, and within Enjin’s ecosystem, businesses can use ENJ to develop and monetize gaming NFTs. Ethernity Chain The Ethernity Chain token (ERN) is used to farm rare, limited-edition trading cards and NFTs created by popular NFT artists on the community-oriented Ethernity Chain platform. Illuvium Illuvium is a well-known metaverse gaming system that’s based on the Ethereum blockchain. At the moment, Illuvium is working on what many expect to be the very first truly playable AAA metaverse game project — one that includes a 3D virtual reality setting, with over 100 Illuvials sprinkled throughout the virtual cosmos. NFTX The ERC-20 protocol known as NFTX is used for creating tokens backed by a variety of NFT collectibles, resulting in instant liquidity for an asset class with well-known liquidity issues. NFTX is the governance coin that allows new proposals to be voted on by token holders. Rally The Rally network is powered by the RLY Ethereum token, giving token holders the ability to collectively create cryptocurrencies known as social tokens, and launch them on the crypto market. With Rally, creators can unlock new revenue streams while giving fans access to merchandise, unreleased content and several other benefits. Rarible Rarible is a popular NFT marketplace included in the Metaverse Index. With Rarible, virtually anyone can buy, sell and mint one-of-a-kind digital goods like game items, artworks and collectibles. Using the RARI governance token, community members can participate in the governance of the Rarible marketplace and treasury. REVV REVV is an Ethereum-based token used to support P2E motorsport blockchain games, like F1 Delta Time (now closed), Formula E, MotoGP™ and other titles developed by Animoca Brands. The Sandbox As its name suggests, The Sandbox is a community-centric metaverse network where anyone can develop and monetize on-chain games using voxel NFT assets. The vibrant gaming economy of The Sandbox is a top performer in driving the average price of MVI and a major contributor to the gaming industry. Terra Virtua Kolect Virtua is an immersive platform where collectors can purchase and display digital collectibles in the virtual reality space known as the “Fancave.” The utility token for the platform is TVK, Terra Virtua Kolect, which collectors can use to participate in the thriving collectible economy, unlock extra features and earn additional rewards. WAXE WAXP is the utility token for the WAX protocol, an e-commerce blockchain built to facilitate NFT value transfer. Partnering with Atari and other major gaming studios, WAXE (the Wax Economic Token converted from WAXP) currently plays an integral role in the Metaverse Index, and has growth potential. Whale WHALE is a virtual social currency backed by some of the rarest NFTs and digital assets on the market. The basket of NFTs supporting the currency include rare digital assets from Avastars, Gods Unchained, Cryptovoxels and several other coveted digital art. Yield Guild Games Yield Guild Games is a DAO that uses the YGG governance and utility token, which can be staked for specific rewards and used to pay for transactions within the Yield Guild Games community. Buying MVI vs. Individual Tokens The metaverse is an open digital space designed to seamlessly integrate endless aspects of the real world, including entities such as identity, ownership and financial value. This open, shared digital space is made possible by advances in virtual reality and blockchain technologies. User-focused tokens play a key role in the metaverse’s operational and economic design. With tokens, anyone can own a slice of the metaverse, along with the value they unlock. However, even for seasoned crypto traders, investing in any single token can result in exposure to high levels of volatility. While volatility can drive up the average price of a token and create significant returns, it can also result in significant losses in no time at all. Much like a traditional mutual or index fund, Metaverse Index and the MVI token aim to minimize volatility while supplying stable returns. By representing a variety of hand-picked tokens rather than a single one, MVI turns the growing trend of virtual reality into a single token anyone can invest in. Advantages of MVI Tokens MVI tokens let crypto traders profit from developments in metaverse technology by investing in several various metaverse protocols, rather than focusing on a single token, asset or platform. This provides several key benefits for traders and investors alike. Risk Management Since holding MVI or another index token offsets the volatility associated with individual tokens, by its very nature Metaverse Index acts as a risk management tool. Cost Effectiveness Buying or selling individual tokens requires gas fees for each transaction. Buying or selling MVI, on the other hand, allows you to trade and profit from over a dozen different tokens and protocols while only paying a single gas fee, rather than several. Simplicity Metaverse Index makes capturing broad market trends simple. Explicitly based on the concept of the metaverse, MVI offers a simplified, straightforward approach to capturing trends without the need for constant research and portfolio rebalancing. Transparency There’s nothing worse than flying blind as a crypto trader, so when it comes to investing your hard-earned money, transparency is a must. Recognizing this need, Metaverse Index employs a transparent set of rules for evaluating tokens for inclusion and exclusion. MVI Tokenomics Since MVI is an index product, it lacks tokenomics and there’s no supply or issuance schedule. The token directly represents a mixture of 16 tokens individually allocated according to a specific formula for liquidity weighting and root market cap. Additionally, although MVI doesn’t follow an issuance or supply schedule, it has a maximum supply of 39,602 coins. Metaverse Index Price Prediction The current price of MVI is $18.59, marking a 2 percent increase in the past 24 hours. However, the price is down 0.5 percent over the past seven days and 34.9 percent over the past 30 days. These price swings are even more eye-opening when looking at longer time frames. For example, MVI is down 94.7 percent on the year. At this time last year, MVI was trading at $355.13. Nonetheless, the question remains: Where will the price of MVI go from here? Currently, the overall sentiment is bearish on the short-term prospects for MVI. In fact, WalletInvestor’s forecast rates the token as a poor investment for at least the next year. The trading volume for MVI, however, remains strong and healthy. When coupled with the undeniable growth of the metaverse trend, the argument can be made that MVI’s current slump is exactly that — a slump. In fact, DigitalCoinPrice and many other crypto forecasters have the price of MVI rising consistently over the coming years. According to their analysts, MVI is expected to reach a minimum price of $39.92 in 2023 and a maximum price of $47.13. By 2025, MVI is predicted to reach $82.03, and by 2031, MVI is predicted to hit $358.92.  If these figures are at least somewhat accurate, the trajectory of MVI appears obvious. While it will likely take several years before MVI once again reaches its peak price of $372.65, which it reached in November 2021, the outlook is promising and the price of MVI should climb consistently in the years to come. Where to Buy Metaverse Index Investing in Metaverse Index doesn’t take much work. You can purchase MVI directly through Index Coop, the DAO responsible for maintaining some of today’s top crypto indices. As a developer and manager of crypto index funds, Index Coop makes investing in crypto and digital assets easier and less costly than building a crypto portfolio on your own. As with other tokens, you can purchase MVI with Ether (ETH). It can also be purchased with DAI, USDC, stETH and WETH. If you do not have any of these, you’ll need to buy some from an exchange that accepts bank or debit card deposits, such as Bybit. Once you have the necessary amount of ETH, you can then connect to your digital crypto wallet and exchange it for MVI. That’s really all there is to it. Is MVI a Safe Investment? Based on present data and all of the information above, Metaverse Index (MVI) — and the greater market environment — have been trending downward over the past 12 months. According to several sources, however, MVI’s future outlook is positive, with steady gains expected over the next 10 years. That said, given the drastic falloff from its all-time high of $372.65 just a year ago, it’s difficult to view MVI as a safe investment, especially for the short term. As a long-term investment or value play, on the other hand, MVI may be worth a look. The Bottom Line Metaverse Index has demonstrated the ability to completely change the way people engage and interact with the concept of the metaverse. The platform combines several of the top metaverse platforms and tokens into a single basket, allowing crypto traders and metaverse enthusiasts to invest in the metaverse trend rather than in a single token. Its methodology just makes sense. If you want to take a hands-off approach to the crypto markets and potentially profit while mitigating risks, Metaverse Index is worth checking out.    
The G20 And IMF Are Already Preparing Their Crypto Regulation

Bitcoin And Ethereum Have Managed To Retain Their Positions As The Top Two Cryptocurrencies

ByBit Analysis ByBit Analysis 29.11.2022 13:39
Interest in cryptocurrencies has fluctuated over the past few years as wealth flows into the cryptocurrency market with every bull cycle, creating millionaires. What has remained constant despite the surge of new cryptocurrencies is the market dominance of Bitcoin, still the most valuable crypto since its launch. In recent years, Ethereum has become the strongest competitor for market share, grabbing the reins and overtaking Litecoin. As cryptocurrencies vie for market share, Litecoin has managed to remain within the top twenty in terms of market capitalization, even after a decade. To learn more about these three cryptocurrencies, please refer to these following articles: What Is Bitcoin? What Is Litecoin? What Is Ethereum? In this article, we’ll be looking at the differences between these three cryptocurrencies, particularly regarding consensus mechanism, hash algorithm, distribution, transaction speed and use cases. Growth of the Cryptocurrency Market Bitcoin was founded in 2009. Since then, the cryptocurrency market has arguably gone through three bull markets, specifically in 2013, 2017 and most recently in 2020, a particularly prominent year with various altcoins reaching all-time highs alongside Bitcoin’s ATH of $69,000 in November 2021. Other crypto market catalysts have included the DeFi Summer of 2020 and the market adoption of non-fungible tokens (NFTs). In addition, the periodic emergence of meme coins such as Dogecoin and Shiba Inu (in 2013 and 2020, respectively) has expanded the crypto market. The expectation of widespread crypto adoption is also a major factor in the growth of the cryptocurrency market. International firms have incorporated cryptocurrency into their operations in recent years, including payment giant PayPal. With such developments, the market adoption of cryptocurrency has grown, with consumers’ awareness increasing. Why Is Bitcoin So Popular? Cryptocurrencies have existed for well over a decade. Yet, through all of the rapid developments in the crypto market, Bitcoin still remains the dominant cryptocurrency. It runs on a blockchain, a decentralized publicly distributed ledger that contains encrypted records of every transaction that’s ever been made on the network, thus ensuring data security. Bitcoin’s underlying blockchain technology enables peer-to-peer transactions and eliminates the need for control by governments or other centralized financial institutions.  The surge in Bitcoin’s popularity is also attributed to the profits it’s brought about for its investors. With a stunning 69,000% increase in price from $100 in 2013 to $69,000 in 2021, Bitcoin successfully captured the market’s attention. At the same time, altcoins (cryptocurrencies other than Bitcoin) have also begun gaining bigger market share, the most prominent one being Ethereum, which has risen in the ranks to claim second place in overall market cap.  Litecoin, previously ranked second in market cap right behind Bitcoin, has been overtaken by multiple new cryptocurrencies, but has still managed to remain within the top twenty cryptos by market cap. In addition, its token, LTC, has recently gained the market’s attention once again as its price rose by 35% in just one week in the midst of an ongoing bear market. Litecoin vs. Bitcoin vs. Ethereum Bitcoin, Litecoin and Ethereum are all open-source software platforms, and their codes are publicly accessible. Despite all three cryptocurrencies being blockchain-based, there are certain underlying differences between them. Details Let’s start off with some specific details pertaining to each of these cryptocurrencies. Consensus Mechanism Since blockchains are publicly shared ledgers, they require an effective, fair, real-time, dependable and secure mechanism to ensure that all transactions taking place on the network are genuine. The consensus mechanism is essentially a set of guidelines to determine the validity of contributions made by the participants of the blockchain. In a blockchain’s dynamically changing environment, all participants have to agree on a consensus on the ledger’s status before transactions can be confirmed There are two main types of consensus mechanisms: Proof of work (PoW) and proof of stake (PoS). Using PoW, Bitcoin and Litecoin rely on miners, who solve complex mathematical equations using specialized hardware to add blocks to the networks. On the other hand, the Ethereum blockchain uses PoS, whereby validators stake their currency to validate new blocks on the blockchain. PoS requires significantly less computational power than PoW, which lowers both hardware requirements and energy consumption. Hashing Algorithm A hashing algorithm, which determines how incoming data is incorporated and verified on a blockchain, differs for the three cryptocurrencies. Bitcoin makes use of the SHA-256 algorithm and Litecoin uses Scrypt, while Ethereum previously relied on Ethash, no longer relevant since the network has switched to PoS as a part of its Ethereum 2.0 upgrade. The SHA-256 algorithm utilized by Bitcoin uses the computational power of GPUs (graphics processing units) and, to a lesser extent, CPUs (central processing units) to verify transactions and blocks. The most common method for Bitcoin mining consists of the use of application-specific integrated circuits (ASICs), a hardware system that can be tailor-made to mine Bitcoins. However, many people prefer not to use ASICs because they’re expensive, challenging to maintain and necessitate specialized knowledge. Bitcoin mining has become more centralized and exclusive, as fewer people have the skills, resources and time to buy, set up and maintain ASICs. This compromises the security and resilience of the network. Scrypt is a modified version of SHA-256, but is more memory-intensive, which is reputed to lessen its reliance on GPU arithmetic logic units (ALUs) and, consequently, ASIC mining equipment. Scrypt aims to make mining more accessible to individuals, as not all users can afford hardware equipment such as ASICs. This contributes to the decentralization of a network. Nonetheless, ever since Scrypt ASIC mining machines were built in 2021, Litecoin mining has once again fallen under the control of a few dominant players. Distribution Bitcoin (token: BTC) and Litecoin each have a supply cap on their number of tokens, with Bitcoin’s set at 21 million and Litecoin’s at 84 million. Since Litecoin has four times the supply of tokens, its network possesses greater liquidity as compared to Bitcoin. However, the scarcity of Bitcoin makes it more valuable. Ethereum, on the other hand, doesn’t have any ceiling for its supply of ETH. Nonetheless, its rate of growth is limited to 4.5% per annum. Mining Rewards Miners are rewarded for their efforts in the form of a blockchain’s native currency.  In 2009, Bitcoin started off with a 50 Bitcoin reward per block mined. After going through three halvings, the reward is now set at 6.5 BTC. Similarly, Litecoin began with a reward of 50 LTC per block mined. Following two halvings, the current reward stands at 12.5 LTC per block, with a third halving scheduled for 2023, which will reduce the reward to 6.25 LTC. These rewards are halved in order to limit the quantity of each cryptocurrency released into the circulating supply, thus creating scarcity. Bitcoin block rewards are halved every 210,000 blocks, while Litecoin block rewards are halved every 840,000 blocks. This difference is due to the different supply cap. Since Ethereum now utilizes a PoS consensus mechanism, there are no rewards for block mining. Instead, participants are rewarded by staking their Ether on the network to participate in block validation. Depending on the staking program in which users choose to participate, their rewards can fluctuate anywhere from 2% to 20%. Transaction Speed Another significant difference among the three cryptocurrencies lies in their transaction speeds, or TPS. Bitcoin processes approximately 5 TPS, and takes about 10 minutes to create a new block. In addition, Bitcoin software limits the size of a new block to 1MB. Not all Bitcoin transactions are processed within ten minutes. This is especially the case when the network is congested, due to a large number of transactions. Litecoin processes 54 TPS, taking approximately 2½ minutes to create a new block. Transactions on Litecoin are roughly four times faster than Bitcoin’s. As a result, Litecoin is often regarded as a currency for day-to-day transactions, while Bitcoin is considered to be more of a store of value. With its recent upgrade (The Merge), the Ethereum network is now able to handle up to 100,000 TPS.  Transaction Fee Bitcoin: ~$1 Litecoin: ~$0.012 Ethereum: Ethereum employs a different mechanism, called gas, in place of transaction fees. The amount of computational work necessary to complete a transaction is measured in gas. On the Ethereum network, users must pay gas fees in order to complete a transaction. They’re correspondingly assessed a gas fee for each individual transaction. Network Scalability One of the biggest issues for the Bitcoin network is scalability. The more users trying to send funds over the network at a given moment, the more congested it becomes. Since transaction fees are defined on the basis of an auction, those who make higher bids get their transactions confirmed first. This leads to high network fees and longer confirmation times. Though Litecoin has much lower fees, its network experiences the same problem. To speed up transaction time and lower transaction costs, Bitcoin and Litecoin have implemented some improvements. Among these are SegWit, which increases the block size limit by pulling signature data from transactions, and Lightning Network, which keeps transaction data off the blockchain. Since Ethereum has switched over to PoS, problems with scalability aren’t as prominent. However, scalability has been a major issue for the popular Ethereum network while it was using a PoW consensus. Layer 2 solutions were implemented as a partial remedy for Ethereum’s former transaction rate of 12–15 TPS. Use Case The use cases for each of these three cryptocurrencies differ quite drastically. Bitcoin: Bitcoin was created as a form of technology to allow for decentralized peer-to-peer (P2P) payments. However, its slow transaction speed makes it impractical for daily use, and it’s been referred to as digital gold, serving primarily as a store of value. Litecoin: Litecoin was forked from Bitcoin’s code to tackle issues of cost and scalability. These differences make Litecoin more favorable for merchants, since payments and transactions can be carried out quickly at a cheaper rate. Ethereum: Ethereum focuses on smart contracts, transfer of asset ownership and DApp (decentralized application) production. Smart contracts are software programs that take action when specific criteria are met. This procedure makes sure that every Ethereum transaction is secure for the user. Additionally, exchanges like the transfer of property or the exchange of money may be included in the contracts. Ethereum’s unique feature is that it allows programmers to directly interact with its underlying network, a capability that Bitcoin and Litecoin do not support. Should You Invest in Any of These Coins? The cryptocurrency market changes very rapidly, making it difficult for investors to choose the best investment options. With all the hype around the industry, many people are wondering if they should invest in either Bitcoin, Litecoin or Ethereum. New currencies are created in the market every month, and there’s no guarantee they’ll remain popular. Still, the three dominant currencies compared in this article have a strong user base, experienced developing teams and are available on most exchanges. All three of these currencies have already proven to be profitable for investors, and to have a good chance of growth in the next few years. Closing Thoughts The cryptocurrency landscape has changed drastically since its inception. Recently, more attention has been brought to the regulatory environment surrounding crypto. Despite all of this change and uncertainty, Bitcoin and Ethereum have managed to retain their positions as the top two cryptocurrencies by market cap. Litecoin, on the other hand, is no longer within the top three, but still holds its position among the 20 largest cryptocurrencies.  The crypto market is indeed an exciting one, with great potential despite its volatility and associated risks. If you’d like to take part in the market, sign up with Bybit today.
The Bitcoin Price Movement Is In The Bullish Channel

Wow! Bitcoin trades at ca. 75% lower level than... a year ago...

Craig Erlam Craig Erlam 29.11.2022 22:03
Investors in Europe remain in a cautious mood on Tuesday as they await a huge influx of economic data in the coming days, while US futures are also pointing to modest gains ahead of the open. Stocks in China soared after a difficult start to the week, on the hope that the country’s zero-Covid policy stance may be relaxed further. That had been the expectation in recent weeks, with a modest softening recently seen being followed by a more substantial shift in the spring. But protests in recent days on the back of record Covid cases and tighter restrictions could have gone either way and that made investors extremely anxious on Monday. While I can imagine the path from zero-Covid to zero restrictions will be long and full of potholes and hurdles, the response to the unrest has appeared more promising than feared. It may well be that the leadership had already been gauging the public mood on restrictions and had, as has been rumoured, already been planning its exit strategy which recent comments align with. Either way, it appears zero-Covid has reached a crossroads and the direction of travel now will determine investor appetite toward Chinese stocks going into 2023. Today’s rebound suggests there’s some optimism. Choppy and vulnerable Bitcoin has also reversed its Monday losses, rallying 1.5% so far today. The cryptocurrency has remained volatile in the aftermath of another plunge following the FTX collapse and now trades more than 75% from its highs just over a year ago. Even now it remains vulnerable as we continue to discover what the full contagion effect will be and what else will be uncovered. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. A promising response to protests - MarketPulseMarketPulse
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Investors Are Becoming More Cautious After Seeing The Impact A Run Can Have On Crypto Market

ByBit Analysis ByBit Analysis 30.11.2022 08:57
When it comes to investments, it’s easy to become emotional or fearful. When bad news or rumors begin to circulate, it can easily lead to a financial crisis. Bank runs, in which depositors withdraw large amounts of cash very quickly, still occur today. For cryptocurrency exchanges with no insurance or proper support, this can be a big problem that leads to people losing their investments. There are several ways to prevent bank runs and protect your investments. Even if you aren’t concerned about a crypto exchange you’re using or an asset you’re invested in, use this guide to learn more about how bank runs affect the financial system and everyone involved. What Is a Bank Run? A bank run occurs when large numbers of depositors withdraw their money simultaneously from a bank, typically due to fear that the bank will run out of money. For cryptocurrency exchanges like FTX and Terra, large numbers of users withdrawing the same asset within a short period led to significant price drops in the asset’s values. How Does a Bank Run Work? When a large number of depositors withdraw funds within the same short period of time, financial institutions can run out of the funds they have on hand. During a bank run, the problem usually arises from the unexpected amount of withdrawals. The financial institution doesn’t necessarily lack the funds to fulfill their obligations; they just don’t have them on hand. Unfortunately, whether the bank run occurs at commercial banks or popular cryptocurrency exchanges, the answer isn’t as easy as collecting the funds from another location. For physical banks, the U.S. Federal Reserve sets cash limits on how much money can be stored at each location. This amount is based on typical demand, and is put in place to limit risks. Banks also lend customer deposits to other customers, or use them to make investments. To help protect consumers, a fractional banking system was introduced which allows banks to lend or invest a large portion of deposits, but they must keep some funds on hand to cover any withdrawals. During a bank run, banks need to quickly increase the amount of cash they have on hand to cover all of the withdrawals taking place. This can lead to the bank quickly selling off assets to avoid insolvency. While central banks can lend money to commercial banks as a last resort, it isn’t always enough to keep the commercial bank afloat. For cryptocurrency exchanges, bank runs can be devastating to investors. Some exchanges handle billions of dollars in transactions. While the Securities and Exchange Commission (SEC) does enforce a Customer Protection Rule that separates broker and customer assets, many brokers use custodians to handle transactions. Some assets may not have the same requirements, depending on how those assets are transferred and used. This can lead to more potential issues when investors attempt to withdraw all their funds within a short period of time. What Causes a Bank Run? There are several reasons why a bank run could start. Historically, bank runs didn’t occur just because a few people thought an investment was too risky, and decided to pull their funds all at once. In many cases, bank runs were responses to external political or economic factors. For example, the 1929 stock market crash caused a great deal of panic, prompting many Americans to want to hold physical cash. Rumors of banks running out of cash reserves spurred some of the first bank runs. Today, the majority of bank runs are silent. People don’t form long lines outside of the local bank to withdraw funds; they do it digitally. If the bank is in danger of failing, there are strict procedures in place to prevent it from doing so, such as receiving money from central banks, or allowing another bank to promptly and silently take over. Bank runs, whether they’re silent or not, tend to be very swift and unexpected. Runs on crypto exchanges, on the other hand, often have a few warning signs that signify the exchange is in trouble. Bad Publicity A little publicity can go a long way, especially with cryptocurrency. Because a lot of cryptocurrency assets are speculative investments, it doesn’t take much effort to cause fear and shake a community. A few bad tweets can cause large investors to reconsider where they hold their assets, which in turn can cause significant decreases in asset prices if there’s a lack of buyers. Asset Mismanagement Proof of reserves is crucial for cryptocurrency exchanges. Verification will always be done by a third party, and could reveal if funds are being mismanaged. Even if an exchange is practicing fractional reserve banking activities, they should be able to easily track and access assets. Because regulations are different for cryptocurrency exchanges, there are several different factors that could lead to accounting errors or the mismanagement of funds. Effects of a Bank Run There are several short- and long-term effects of a bank run. In addition to affecting financial institutions and customers, bank runs can also spark changes in Federal Reserve policies. Here are just some of the ways bank runs make an impact. Effects on Companies and Crypto Exchanges If a bank run occurs and a company or crypto exchange doesn’t have enough cash on hand to properly handle it, it can lead to distrust in the brand. Even if another institution or central banks bail out the company or exchange, holding customer funds — even for a short period — may result in fewer customers. In addition to public relations issues, banks and cryptocurrency exchanges can suffer from “liquidity crunches.” These occur when a bank can’t find a bailout, and must quickly liquidate assets — often at a loss — to generate cash in order to avoid collapsing. If the amount the bank owes is greater than the amount of cash the bank generates, this can lead to its failure. Effects on Users Depending on the speed of the bank run, customers may not have a lot of time to react. On a cryptocurrency exchange, panic can spread very quickly, especially if the exchange’s native token starts plummeting in value. This can create a snowball effect, causing the platform or its asset to become worthless in a matter of hours or days. Should the exchange shut down or an asset become virtually worthless, customers can lose their entire investment. The biggest difference between a run at a commercial bank and a run on a crypto exchange is in the FDIC regulations and deposit insurance. These factors help to prevent financial system collapses and bank failures, but they’re typically nonexistent for exchanges. How to Stop a Bank Run The government has taken several measures to prevent bank runs. In 1933, the FDIC was founded to maintain stability and regulate the industry. Bank runs can be slowed down or prevented in several ways.  Slow It Down Bank runs are typically driven by panic and fear, rather than actual issues with financial institutions misusing funds. Slowing the process down doesn’t just help to protect the bank or exchange’s assets — it provides a cooldown period. If faced with the threat of a run, a commercial bank or exchange may shut down for a short period of time. Inspectors may also actively work to gather proof of reserves to give the public peace of mind. Borrow Money After slowing down the run as much as possible, banks and exchanges need to raise funds to cover all of the withdrawals. For commercial banks, this typically means borrowing from other institutions or central banks to cover large loans and boost their cash reserves. Some cryptocurrency exchanges may offer an industry recovery fund. For example, Binance offered recovery funds of $1 billion following FTX’s collapse to help the crypto industry recover. Insure Deposits Deposit insurance guarantees that investors and consumers will get their money back, should there be a bank or exchange failure, or another issue with the financial system. Part of the reason why runs are devastating in the crypto community is that the FDIC doesn’t insure investors’ assets as it would for central banks. Should a bank collapse, the FDIC allows other banks to purchase the bank having issues, and customers can typically access their funds with little to no interruption. Set Term Deposits One prevention method is to actively encourage investors to leave their assets on an exchange or in a bank. This is typically done by offering a percentage of interest. Sometimes, deposits are arranged for a set period. The user makes the deposit, and at the end of the predetermined term, they can make the withdrawal. How to Protect Yourself During a Bank Run Investors are becoming more cautious after seeing the impact a run can have on crypto exchanges. Observing crypto exchanges’ actions during previous runs can give an idea of what to expect should history repeat itself. Following the November 2022 FTX collapse, some exchanges like Bybit established funds to support institutional traders’ access to liquidity. This move not only demonstrates Bybit’s willingness to support traders during a difficult time, but it helps to show the exchange’s reliability. Only Use Reputable Cryptocurrency Exchanges While there are several steps financial systems can take to prevent runs, one of the biggest things you can do to protect yourself is to conduct extensive due diligence before using an exchange. While runs can happen on any crypto exchange, working with a trustworthy platform that’s been successfully operating for several years can decrease the odds of being affected by a run. Ensure Your Crypto Exchange Has Proof of Reserves Carefully research any exchange platform you plan to use. It should have publicly shown proof of reserves. Since the FDIC doesn’t offer deposit insurance on crypto exchanges, you need to be cautious when choosing whom to trust with your money. Some exchanges may practice fractional reserve banking, a system where they only keep a percentage of funds on hand. Rather than offering deposit insurance, a reliable exchange will be able to show proof of reserves. This independent audit shows what assets the exchange has, confirms that the exchange is financially stable, and indicates if any fractional reserve banking practices are being implemented. Proof of reserves should show that the exchange has more assets available than the balance of their users’ accounts, much like the reserves at traditional commercial banks. Store Your Funds in Your Own Wallet Even if you’ve selected a reliable exchange like Bybit to handle your crypto transactions, you need to ensure you always have access to your funds. Never leave your assets on a third-party exchange. This helps to protect you in the event of a run, or any other issues an exchange may run into, such as downtime. Investing in a cold storage wallet for your assets will also add an additional layer of protection against hackers and scammers. Diversify Investments It’s tempting to specialize in one or two cryptocurrencies, especially if you have a lot of faith that a particular asset will increase in value. Unfortunately, various events can affect the value of an asset. One of the easiest ways to avoid a financial crisis is to diversify your portfolio with multiple investments. Some investors also work with multiple exchanges so that they’re always ready to trade if necessary. Keep Up With the News It’s no secret that the world of cryptocurrency moves quickly. Following multiple news sites who report on the assets you’re investing in, as well as the platforms you’re using, can save you some heartache later on. Whether there’s a run or another financial crisis, being one of the first people to know gives you an advantage. For example, during the collapse of FTX, depositors who withdrew their funds early were able to recover some of their investments. Those who waited to withdraw may not have been able to recover any of theirs. The Bottom Line Bank runs can cause a financial crisis at any time. While the U.S. financial system doesn’t have as many federal reserve regulations for cryptocurrency exchanges, there are still several ways you can protect your digital investments. By understanding the causes of a run and taking precautions, you can protect your assets during an unforeseen financial crisis.    
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Binance Academy: How does Proof of Reserves work? What is it?

Binance Academy Binance Academy 30.11.2022 11:16
TL;DR Crypto custodians use Proof of Reserves (PoR) audits to show they’re holding users' funds in full. Binance conducts and publicly publishes internal audits, whereupon third-party auditors help to verify them using cryptographic techniques to prove users’ funds are securely held in company reserves. Binance users can also independently verify that their account balances are included in these audits. Introduction Blockchain technology-enabled cryptographic proofs facilitate transparency of crypto exchanges’ financial transactions. Proof of Reserves (PoR) further increases this transparency by creating an authorized framework for auditing crypto custodians. However, while it's one step forward, PoR still needs improvements to make the ecosystem more transparent and trustworthy. Learn more on Binance.com What is Proof of Reserves (PoR)? A PoR audit is one that aims to ensure that custodians are holding their clients’ funds in full. Custodial businesses in cryptocurrency use PoR audits to prove to depositors and the public that their deposits match their balances. These audits are conducted by independent third parties to eliminate the possibility of reserve data being falsified. PoR is essential for several reasons. Firstly, it enables users to verify that the balances they hold on a cryptocurrency exchange, for instance, have absolute asset backing. Secondly, it drives businesses to meet transparency standards, making it difficult for them to engage in questionable or illegal financial activity.  Ideally, PoR should benefit both users and businesses. It protects users by minimizing security risks and safeguarding against harmful players. At the same time, it helps businesses retain users by increasing their trustworthiness. The ability to audit crypto exchanges creates a more transparent crypto ecosystem. For example, PoR prevents exchanges from acting as banks that loan deposited assets to third parties. Similarly, exchanges can't use deposits to invest in other protocols or businesses. In other words, PoR eliminates the risk of companies maximizing the yield and other possible returns from customer asset holdings.  With PoR, any entity can prove that a crypto exchange holds the entirety of its users’ deposits. Therefore, exchanges are naturally encouraged not to mishandle these balances as it would break user trust in them and affect their continuity. What does PoR verification do? In PoR verification, the auditor verifies the inclusion of each account’s balance using cryptography. There are a few key steps as to how this works. Firstly, the auditor takes a snapshot of all account balances. It then converts the fund data to a Merkle tree, which is used to structure large amounts of data for more straightforward processing.  User balance data is hashed into a "leaf". A group of these "leaves" are then hashed to form a "branch", and a group of "branches" are hashed to form the "root". Next, the auditor can use various methods to verify ownership of the user address. On Binanace, for example, an auditor has three ways to identify ownership. When the extraction process for this infomation is run by the exchange, it is also verified by the auditors. Cryptographic message signing: An auditor will provide the exchange a unique message to cryptographically sign using their associated private key(s).  Instructed movement of funds: The exchange is tasked with performing an “instructed movement of funds”, where the management will move a specific amount from a public key/address on a specific time and obtain the transactional hash to verify the instructed transaction on the respective blockchain. Search addresses on a blockchain explorer: The auditor can also search the ETH and BSC (in the case of Binance) address(es) on Etherscan and BSCScan, respectively to ensure that the addresses have been tagged as belonging to the exchange. If the balances match from these forms of discovery, the exchange has verified PoR and shown that it holds all deposited assets in totality. PoR: Limitations and potential improvements A crypto exchange’s balances change as users move their assets in and out. The issue with PoR is that it verifies the correctness of reserve balances only at the specified time of the audit. This can be problematic because any issues may appear too late and a custodian may even use this opportunity to obscure facts.  It is also important to note that third-party businesses conduct the audits, which means audit results may depend on each auditor's competence or whether they’re influenced by outside interests. But how can a crypto exchange improve its PoR audits to build and maintain users’ trust? It can start by shortening the intervals between audits to ensure there are no suspicious financial activities between cycles. An exchange could also use a reputable third-party firm with no financial interest in it or its related bodies. Crypto exchanges use PoR to offer more transparency, which is essential during financial turbulence. Because it uses mathematics and cryptography instead of merely trust and communication like the traditional banking system does, blockchain technology can offer an even better way to audit the financial market. Verifying that your account has been audited You can also verify the inclusion of your Binance account in the last PoR audit yourself. Simply follow the instructions below. Log into your Binance account and bring your cursor to "Wallet." Next, select the "Audits" tab. You will see all the recent audits in which your account balance was verified by the PoR process. Select a specific audit for which you want more information. There, you can also download the Merkle tree.   Closing thoughts You can access a PoR audit to see if a crypto custodian holds the entire reserves of your and other users' funds. The audits should deter crypto exchanges from mismanaging user funds and help improve transparency in the crypto space. PoR is the first step to regaining and maintaining the trust of the crypto users. Furthermore, it sets more requirements for exchanges, which will hopefully make user funds a priority and make the industry safer and more transparent for all.  Further reading What Is Fractional Reserve? A Beginner’s Guide to Security Tokens What Is Quantitative Easing (QE)? The Psychology of Market Cycles A Beginner's Guide to Cryptocurrency Trading Strategies
According To Cory Klippsten Etherum and Solana are "bad coins"

A dive into the second largest cryptocurrency platform in the world - Ethereum

FXMAG Education FXMAG Education 30.11.2022 10:20
Which cryptocurrency made its creator a billionaire 8 years after its creation? Why will Ethereum jump to the Ice Age? What's the deal with the ticking bomb hidden in the code? I invite you to the next lesson in which we will explore the secrets of the second largest cryptocurrency in the world. The Ethereum platform Ethereum is a decentralized open-source platform that is built on blockchain technology and supports peer-to-peer contracts (smart contracts) and decentralized applications (Dapps). Its native crypto token is Ether, i.e. ETH that allows transactions between users and or applications and the payment of related fees, that result from the computing power needed to process them. Read next: Crypto exchanges - what are they and how do they work? | FXMAG.COM Thank you for your attention. You already know what Ethereum is but perhaps you don't know or don't understand. After reading the definition above, I also had to think for a moment, so let's tackle this topic one by one, from the perspective of a beginner. The idea of creating Ethereum was born in Vitalik 's head Buterin, a Russian-born Canadian developer in 2013, which resulted in a briefing paper titled "Ethereum: The Ultimate Smart Contract and Decentralized Application Platform". Vitalik had 19 years and a pen when he created the Ethereum white paper. You can find a link to this document in the video description - https://ethereum.org/en/whitepaper/ Buterin was interested in programming based on the Bitcoin source code, but he quickly saw new opportunities that the Ethereum technology could offer, which BTC does not offer. This was due, among other things, to the lack of use of a scripting programming language. Generally, it is about the possibility of creating smart contracts and decentralized applications. Fundraising for the project Using the so-called ICO (Initial Coin Offering), i.e. collections where contributors receive tokens in return. The public sale of tokens lasted 42 days. It started on July 22 and ended on September 2, 2014. The tokens were sold for BTC, with the initial price being 2,000 ETH for 1 BTC, which was about 30 cents for one token at the time. Yes, this is the place where you can divide the current ETH rate by 30 cents and check how much you would have earned if you had already invested in the idea of a 20-year-old. The sale was carried out by a company registered in Switzerland. They managed to collect over 31.5 thousand BTC, which then meant a collection of around USD 14 million. It is worth adding that Vitalik Buterin did not act alone, and it would be really wrong if Gavin Wood was not mentioned, CTO of Ethereum, who had a huge impact on the development of the network. Attention! The official name of this cryptocurrency is Ether (ETH), and the blockchain of this cryptocurrency is Ethereum. Although on exchanges and various crypto listings you will meet the name Ethereum, which is a fairly generally accepted simplification. Launching of the Ethereum network The Ethereum network launched on July 30, 2015 with a 6-month delay. Now, what exactly is Ethereum ? First of all, it is a separate blockchain from the blockchain Bitcoin, so it is a new separate cryptocurrency. If you don't know what a blockchain is, I encourage you to watch a video based on it or read up more on the concept. In simple terms, Bitcoin is compared to a ledger in which subsequent transactions are recorded. If we would like to use a term or comparison adequate to that of Bitcoin, Ethereum can be compared to, for example, Excel, i.e. a program for performing various types of calculations. Read next: Anyone can become a validator without specialized equipment. What is The Ethereum Merge? - our team explains | FXMAG.COM In Ethereum, we are able to write a formula in a single cell (an analogy would be a single key in Bitcoin) that determines what should happen to the money that will flow in there. These are just smart contracts, of which there are a lot. Hence, these smart contracts can be analogous to, for example, notarial contracts. Ethereum is a proposal to build a block chain that has its own scripting language that allows you to write programs, although not like computer games, but such as, for example, various types of economic systems. In Bitcoin, nodes process transactions, while Ethereum network nodes process programs. Ethereum can therefore be described as a decentralized and distributed computer that can perform calculations and execute computer programs. The Ethereum blockchain system The programming language on which Ethereum is based allows for a lot, basically everything, but what is possible can also be inherently problematic. In October 2016, the network was divided into two blockchains, known as the hard fork. Why did it happen? It was due to the problem of The Dao organization based on the Ethereum smart contract. This organization raised $150 million and just 3 days later it was stolen. More than 1/3 of the collected funds were lost, due to hackers that took advantage of a minor bug in the code. If the system is decentralized like Ethereum, a smart contract once written cannot be changed. So if we transfer funds to such a smart contract, such an error can be exploited, but we are unable to fix such an error. The fraud caused a split in the cryptocurrency society - some users wanted to return the Ethereum network to the state before the theft, thus recovering the victims' funds, but others preferred not to interfere with the course of blocks and stay with the current state of the platform. This led to a split in the network, the so-called Hard fork. The cryptocurrency now known as Ethereum is the blockchain that brought the network back to its pre-fraud state. The cryptocurrency known as Ethereum Classic continued without intervention. But what is the ticking time bomb and ice age mentioned in the introduction? Ethereum was to strive to develop technological possibilities that would allow resignation from mining in favor of a consensus algorithm, the so-called Proof-of-Stake. In short, instead of mining, an inflation model is to be introduced, or otherwise a model based on a classic deposit. So we deposit funds that generate new ETH for us. For this purpose, an algorithm was implemented to gradually increase the difficulty of mining ETH (mining difficulty) until it becomes completely unprofitable. This algorithm was called Difficulty Bomb, and the moment when the difficulty of mining reaches a level too high for miners - Ice Age. It is possible that by the time you watch this video, the Ethereum network is already operating based on the aforementioned consensus. Bitcoin vs Ethereum Finally, let's compare Ethereum to Bitcoin, both cryptocurrencies are open source and give us a degree of anonymity. The main use of Bitcoin is to store value and conduct transactions within the digital currency. In addition to these activities, Ethereum also allows you to create and run decentralized contracts and applications. Bitcoins will be 21 million units, the number of Ethers is unlimited.
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Crypto exchanges - what are they and how do they work?

FXMAG Education FXMAG Education 30.11.2022 10:20
Cryptocurrency exchanges work analogously to stock exchanges where stocks or commodities are traded. What should we know about them? Why can prices on different exchanges vary greatly? What to look for and is the stock exchange a safe place? What is a crypto exchange? A cryptocurrency exchange is a place where cryptocurrency exchange transactions are made. Although a market is a good analogy of how some financial instruments are traded, it's not a physical place like a market. Trade takes place in the virtual world, the exchange is made on the website. In short, a cryptocurrency exchange is an intermediary whose task is to connect two parties to the transaction, those who want to sell with those who want to buy. And this intermediary receives remuneration in the form of a commission for associating the parties to the transaction. Read next: A dive into the second largest cryptocurrency platform in the world - Ethereum| FXMAG.COM For example, let's go to the Binance exchange, to the tab of a specific cryptocurrency pair. We will see here, first of all, a chart, i.e. how the price of a given cryptocurrency pair has changed in the past, we are also able to see the last transactions that have been made between users and, of course, it is on their basis that the price chart is created, and finally what is most important from the perspective of people who want to make a transaction, i.e. current buy and sell orders. The more of them, the greater the liquidity and depth of the market. The price chart, price, current orders and volume are definitely the most important information, which also in a very blunt way inform us about whether a given cryptocurrency exchange is worth our attention. Uses of crypto exchanges On the cryptocurrency exchange, we can sell or buy a specific cryptocurrency, tokens for FIAT, i.e. fiat currency, or exchange it for another cryptocurrency. How extensive the offer of a given stock exchange is largely determined by the exchange itself, but also regulatory issues come into play, in particular when it comes to exchange for fiat currencies. Unfortunately, regulations are changing, and often they are simply missing. In order to make transactions, you need to register, this process will be explained in detail later. After registration, we will get access to the functionalities that a given exchange offers us. And here an important note, in the world of cryptocurrencies, security is extremely important. The key is, among other things, how we store our cryptocurrencies. Generally, we should hold them on the stock exchange as long as necessary. Cryptocurrency wallets provide much more security. This does not mean that the exchange is a dangerous place in itself, but it is definitely more vulnerable to, for example, any attack than a hardware wallet. In addition, in the case of cryptocurrency exchanges, there is also the issue of trust. Of course, the level of security is improving, but the sheer size of the exchange does not guarantee full security. It is necessary to cite the example of the Mt.Gox exchange , which was established before the creation of Bitcoin. Exchanges, this one in 2013 accounted for over 70% of the entire volume on the market! On February 24, 2014, the exchange completely suspended trading on the platform, and after a few more hours it disappeared from the network. As a result of the attacks, 850,000 bitcoins with a value of about $0.5 billion at the time disappeared from the exchange. Unfortunately, this is not an isolated case, you can read about FCoin, Bitmarket , Cryptopia. There is also the example of QuadrigaCX, an exchange about which Netflix made the documentary "Trust No One: Hunting the King of Cryptocurrencies", although this is a slightly different case because the owner was a fraud before establishing the exchange and the exchange itself was focused on stealing and cheating its users from the very beginning. Price differentiation between exchanges There are several hundred cryptocurrency exchanges, which brings a large selection, but also makes the competition on this market huge. With the rest, just like in normal business, there are bankruptcies, and here it is. Why can the prices on different exchanges of the same instruments differ from each other? First of all, because the price is decided by users when making transactions. For example, when, on the Binance exchange, we have a lot of investors making transactions in pairs with bitcoin on another exchange, these investors can be only a few hundred. The market is decentralized, there is no one place where all orders from each user land, and this means that differences must exist. This makes it possible to use arbitrage strategies that reduce these differences. Just a few years ago, these strategies were extremely profitable. Currently, due to the maturation of this market, we have fewer and fewer such opportunities. Cryptocurrency exchanges are divided by the type of instruments offered and the ownership form. We have spot exchanges, derivatives exchanges and exchanges offering both spot and derivative instruments. Spot instruments are simply the purchase or sale of a specific cryptocurrency, a token. Derivatives are instruments that give us access to financial leverage and their price depends on the underlying instrument. For ownership reasons, exchanges are divided into centralized and decentralized, i.e. DEX exchanges. In the case of decentralized exchanges, we do not transfer funds to the exchange, but the exchange takes place between users' wallets. Compared to centralized exchanges, their interface is usually less friendly, they have less liquidity, and they do not offer customer service. Their greatest advantage is the control of their own funds by users. The world of cryptocurrencies is changing dynamically and cryptocurrency exchanges are competing for users. More than 10 years after the creation of Bitcoin, we can see the trend of exchanges creating real ecosystems. The exchanges, as in the case of Binance , are accompanied by payment systems, payment cards, staking opportunities, cryptocurrency mining or the possibility of investing in another gold rush, which is NFT.
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

Ethereum Follows Bitcoin And Actively Develops A Recovery

InstaForex Analysis InstaForex Analysis 30.11.2022 12:13
The events of November finally plunged the market into an abyss of fear and mass capitulations. According to a report by Glassnode, whales sold more BTC and ETH coins in November. A similar position was taken by miners because of the enormous losses. Despite this, investors continue to believe in cryptocurrencies and actively increase their investments. Analysts at Santiment note that euphoric moods have peaked in the last three months. First of all, this can be seen in the "shrimp" (> 1 BTC), which are actively buying out the current price drop. For the first time in the past two months, wallets with balances up to 100,000 BTC have joined them. It is also reported that the ETH network has set a staking record for the main altcoin in the region of 15.39 million ETH. ETH/USD Analysis Ethereum, like the entire market, is heavily dependent on Bitcoin at the current stage, and therefore the movement patterns are almost identical. During the current trading week, the market cooled down and moved to the phase of active accumulation. This allowed the market to move to the stage of recovery movement. Ethereum has become one of the coins that has benefited the most from the current recovery movement. The asset has risen in price by 9.5% over the past seven days, and the daily gain was 5.5%. The upward movement is also accompanied by an increase in on-chain metrics activity. Ethereum has come close to the upper border of the "triangle," within which the altcoin has been trading since the beginning of November . The cryptocurrency formed the second confident green candle in a row and consolidated above $1,250. Technical indicators on the daily chart indicate that the altcoin's upward trend continues. The RSI index continues to rise, which indicates the superiority of buyers and the development of bullish momentum. The Stochastic Oscillator and MACD have formed a bullish crossover and are moving in an upward direction. The identical movement of the two indicators indicates the formation of a short-term upward trend with gradually increasing trading volumes. ETH/USD on-chain analysis Ethereum on-chain metrics do not show such an iron bullish trend as technical indicators. The formation of upward dynamics is observed only in the indicator of the number of unique addresses in the ETH network. For further growth of ETH/USD quotes, the volume of daily trading should also increase beyond this indicator. There is an active accumulation of cryptocurrency by large investors with wallets up to 100,000 ETH. At the same time, "shrimps" and "sharks" continue to sell their stocks or remain neutral. As of writing, on-chain activity does not confirm the strength of technical metrics, which may prevent the final assault on the upper border of the $1,080–$1,300 channel. Results Ethereum follows Bitcoin and actively develops a recovery movement. To begin the implementation of a short-term bullish movement, the altcoin needs to gain a foothold above $1,300. As of writing, ETH hit $1,270 and faced bearish resistance. The asset retains chances to continue its bullish movement, and in case of consolidation above $1,300, ETH may reach the level of $1,350–$1,450. However, in case the storm of the $1,300 level is unsuccessful and the price falls below the level of $1,150, the bullish idea is cancelled. Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328573
Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

Changing correlation of Bitcoin and US stocks. Brazil: Lower house of Congress approved crypto regulation bill

ByBit Analysis ByBit Analysis 30.11.2022 12:24
Top Spot      Litecoin (LTC) is the third largest proof-of-work (PoW) token by market capitalization, trailing behind Bitcoin and Dogecoin. Litecoin has outperformed most top PoW tokens due to anticipation around its upcoming halving that is slated to happen in August 2023. Litecoin was created based on Bitcoin but differs with shorter block time and lower transaction fees, making it a better fit for on-chain payment functions. Litecoin is our top pick of PoW tokens due to two reasons.    First, in the previous halving cycles, Litecoin had established price bottoms four and nine months prior to the actual halvings respectively. If history is any indication, LTC’s price will likely see a positive price trend in the eight months that lead to the imminent halving. Second, as on-chain activities have shrunk due to an extended bear market, alternative Proof-of-Stake (PoS) chains have lost their luster as users focus on decentralization instead of utility. Centralized PoS chains can mint tokens if needed during a liquidity crisis, leaving investors at risk of seeing tokens drop to zero. In comparison, the minting schedule of PoW tokens like Litecoin is stipulated at the genesis and is immune from the supply shock risk.   Bybit offers Zero Fees for All spot pairs! Check Out the Latest Prices, Charts, and Data for LTCUSDT!   Chart of the Day      Stocks closed lower on Tuesday as traders tread cautiously ahead of Federal Reserve Chair Jerome Powell’s speech on Wednesday, which will likely cement expectations of slowing the pace of rate hikes. The broader crypto market extends its rally into early Wednesday (Asian trading hours), with major cryptocurrencies staging a strong comeback from Monday’s fall, in spite of the latest implosions. In light of the recent crypto-specific contagion, correlations between BTC and US equities, be it long-term rolling correlations or intraday price patterns, have declined significantly. BTC’s drawdown from its ATH and drained liquidity may have led to stickiness of a weaker correlation, as its price became less sensitive to improvements in macroeconomic data. However, nonfarm payrolls and Powell’s speech this week will provide clues as to whether the structural correlations have indeed softened.    As of the time of writing, BTC is charging at the $17k handle, after a 4.4% jump in the last 24 hours. A successful breakout above this resistance zone will likely usher in a new round of momentum for the largest cryptocurrency. ETH fares even better. The second-largest cryptocurrency by market cap is changing hands at the upper region of the $1,200 handle, after rising by 7.6% in the same period. Major altcoins spent another day in the green, with Huobi Token leading the pack on a double-digit percentage gain. The jump is related to Huobi’s latest announcement of airdropping the new “Dominica coin”, which is set to launch on the Tron blockchain.          Talk of the Town      After a series of twists and turns over the past seven years, Brazil’s lower house of Congress finally approved a long-awaited crypto regulation bill that aims to boost oversight of the country’s cryptocurrency sector. The bill will pass to outgoing President Jair Bolsonaro, whose term ends on December 31,  2022, for approval. The regulation serves to define digital assets and their service providers, while subjecting the sector to oversight by a government-appointed federal agency. It also recognizes BTC as a digital representation of value that can be used as a means of payment and an investment asset in the South American nation. The move is a response to the collapse of FTX and affiliated institutions earlier this month, and a contingency of the nation’s expanding crypto market, as Brazil becomes a top-ranking nation on Chainalysis’s latest Global Crypto Adoption Index.      Market Check Source: Bybit Blog | BTC Correlations with TradFi Drop; Brazil Backs Law for More Crypto Regulation
How could ongoing World Cup help Web3? Sorare, FIFA+ Collect and more explained

How could ongoing World Cup help Web3? Sorare, FIFA+ Collect and more explained

ByBit Analysis ByBit Analysis 30.11.2022 13:27
Written By: Marcus Wang and the Crypto Insights Team Edited By: Charmyn Ho Introduction   The 2022 FIFA World Cup in Qatar kicked off last week and is currently all the rage. Global sports events have been known to thrust Web3 into the limelight, with Bybit’s sponsorship of Formula 1’s Red Bull team being an example. FIFA World Cup, as one of the most prestigious sports events, is no exception.    Web3 players, including exchanges and protocols, have aspired to leverage this year’s World Cup to attract more users to Web3. As such, this article aims to explore areas of Web3 that would benefit from this year’s World Cup and how. In addition, as Web3 is reeling from contagious effects induced by FTX’s implosion, we will dive into whether the FIFA World Cup hype has indeed provided a boost to Web3’s on-chain activities.   Crypto Trading — Crypto Exchanges Kick Off World Cup Branding   The cryptocurrency exchange, Crypto.com, is the official sponsor of the FIFA World Cup 2022. Crypto.com benefits from the publicity as the mega event’s venue and the broadcast view from the stadium will both be branded with Crypto.com’s graphics. Crypto.com has been famous for its aggressive expansion strategies by sponsoring sports events. Aside from the agreement signed with FIFA World Cup, the cryptocurrency exchange has signed agreements with the Los Angeles Lakers, and  Paris Saint-Germain, not to mention its headline Super Bowl ads that increase its search interest. As such, Crypto.com aims to repeat its previous success with expensive FIFA sponsorships.     Source: Coingecko, Google Trend (data as of Nov 22, 2022)   As shown in the first graph, Crypto.com’s major sponsorships in the past year have successfully led to a boost in exchange trading volume. Nonetheless, following insolvency events in May, the trading volume plunged and has since remained flat. As World Cup 2022 kicks off, trading volume seems to recover slightly with the help of FIFA’s publicity, while search volumes have shown an early sign of recovery, suggesting that Crypto.com could possibly have acquired some users from the sponsorship.   While crypto trading does not equal enhanced Web3 adoption, the user on-ramp by centralized exchanges is essential to boost users’ accessibility to Web3, laying the foundation for a thriving Web3 space. Apart from direct sponsorships, other prominent crypto exchanges, such as Bybit launched a series of “Crypto Cup Kickoff” events to reward users with a 500k USDT prize pool and NFTs up for grabs. If the user search interests can build into the future, World Cup 2022 may help attract new users to crypto exchanges and revive Web3 adoption accordingly.          Non-Fungible Tokens (NFT) — Use Cases for Adoption FIFA+ Collect   FIFA launched the FIFA+ Collect platform, an NFT marketplace empowered by the Algorand blockchain, where FIFA fans can purchase FIFA Archive Drops, which are video snippets of highlights from previous FIFA World Cups transformed into NFTs. Some of the most expensive NFTs in the marketplace as of the time of writing are Colombian player James Rodrigez’s goal against Uruguay in the 2014 World Cup for $10,000 and French player Kylian Mbappe’s goal against Argentina at the 2018 FIFA World Cup for $4,200. FIFA’s cooperation with Alogrand brought digital assets front and center and bodes well for NFT adoption in global sports events. In addition, FIFA fans can purchase the NFT collections by credit cards or USDC, effectively removing the payment barrier that disconnects real-world users from buying NFTs.   Source: NFT Explorer, Delphi Digital    However, the sales of collectibles on FIFA+ Collect have been lukewarm. Looking at the primary sales of card packs, we can see a massive spike in mint volume in late October, 2022. This corresponded to the period when prominent influencers on Twitter started talking about the FIFA+ Collect and its potential to become the next NBA Top Shot. However, the volume has since fallen back to the baseline, with less than 12,000 cards minted daily.    World Cup Goanna on Algorand Blockchain   Daily Volume of World Cup Goanna  Source: NFT Explorer (data as of Nov 23, 2022)   Apart from the official FIFA collaboration, another top-ranking football-themed NFT on Algorand is World Cup Goanna, a special set of commemorative NFT spin-offs of Al Goanna, the leading NFT projects on the Algorand blockchain. The collection saw a strong start immediately after its release but has since spiraled down in both volume and average price.   LaLiga Golazos on Flow Blockchain   Another football-inspired NFT memorabilia platform is LaLiga Golazos. The platform is the collaboration between LaLiga, the premier soccer league organization in Spain, and Dapper Labs. Laliga Golazos is conceptually similar to FIFA+ Collect as it allows users to purchase NFTs with videos of the most memorable goals from 2005 to present. The platform was launched on Oct 27, 2022 and dropped its first pack on the same day.    Performance of Flow and Algorand Blockchain   Source: Crypto Slam (data as of Nov 22, 2022)   The above graphs suggest that both blockchains present a general downward trend in sales generated. The FIFA partnership announcement in September may be responsible for the initial spike. However, the momentum soon lost steam as the sales volume retracted to its baseline. As such, the boost from World Cup 2022 on Algorand’s NFT sales was short-lived.   In Summary   FIFA-related NFTs were introduced in the midst of a prolonged bear cycle, while the World Cup 2022 opening coincided with the unraveling of one of the most influential centralized exchanges, FTX. This was a period when market liquidity evaporated rapidly as the market began to absorb the aftershock of the FTX collapse. With the broader market embroiled in turmoil, it is unlikely for those FIFA-related NFTs to replicate the trajectory of NBA top shots, one of the most successful sports NFT projects atop Flow blockchain.    The cooperation with FIFA sends a tailwind towards the adoption of Algorand and Flow blockchains, two of the prominent NFT-focused blockchains. However, the short-term boosts have yet to  spur overall NFT sales remarkably on the two blockchains as the cryptoverse is still reeling from rippling effects in the wake of FTX’s collapse   Blockchain Games — Scoring Big with Partnerships and KOLs   Sorare is a fantasy sports game protocol built atop Ethereum Layer 2 with Starkware’s Validium technology. As the transactions are conducted off-chain, no gas fees are paid by users when interacting with the protocol. Sorare is essentially a football card game where users compete with each other to win prizes with rare NFT cards. NFT cards represent famous football players with different characteristics for in-game play.   Sorare owns a first-mover advantage in the football blockchain game, where it has signed up with soccer stars Lionel Messi and Kyle Mbappe to attract football fans to the Web3 space. In addition, Sorare has launched a global cup promotion event to jump on the wagon of the FIFA World Cup 2022, featuring football players from over 300 officially licensed football clubs for users to select from.   Source: Dune Analytics @amiloski (data as of Nov 22, 2022)   However, the FIFA promotion has failed to gain traction. The activities of transfers and minting of NFTs on Sorare, as shown in the above table, have declined since July and remained flat, except for a short-lived increase in early September.    Source: DappRadar (data as of Nov 22, 2022)   Besides Sorare, other less-known blockchain football games seem to benefit more from the FIFA hype. Ultimate Champions is one example, which bears a resemblance to Sorare as a fantasy football game with digital NFT cards on Polygon. The on-chain transactions of Ultimate Champions have increased to an average of 10k to 60k on Nov 17, 2022. Despite falling to 10k after a few days, the daily transactions have remained elevated relative to the historical levels. We have noticed similar trends for The Football Club, a metaverse football game built on the Flow Blockchain.    In conclusion, it seems relatively less known if blockchain football games have taken off from the FIFA Hype, with new users flowing into their ecosystem. FIFA has successfully boosted the usage of football games in game blockchains. In comparison, Ethereum-native Sorare has lost ground in the competition, possibly due to a weaker gamer community on Ethereum or ineffective marketing campaigns.   Fan Tokens — Fans Come Pouring in to Support Their Countries   Fan tokens are fungible cryptocurrencies, owning such tokens would provide one with the ability to vote on team decisions and compete for goods, such as VIP experiences, exclusive merchandise, tickets, etc. Chiliz is the first and the most reputable issuer of fan tokens in the space.    Chiliz is the team behind Socios.com, the prominent sports fan engagement platform built on the Chiliz blockchain. Socios.com App and Chiliz Exchange are the main products launched by the team. $CHZ is the native currency for the Chiliz ecosystem and is used to facilitate the buying and selling of fan tokens. For example, $PSG represents fan tokens officially issued by Paris Saint-Germain Football Club on Socios.com. Read here for more details on fan tokens.   While the fan tokens issued on Chiliz are mainly football club tokens, World Cup 2022 has ushered in country fan tokens, including Argentine Football Association Fan Token (ARG) and Brazil National Football Team Fan Token (BFT).    Source: Coingecko (data as of Nov 22, 2022)   As of the time of writing, country fan tokens have significantly outperformed football club fan tokens as the FIFA World Cup 2022 is in full swing, with only country fan tokens ending in the green in the past week while football club fan tokens all ended in the red. Major country fan tokens come into existence in Q3 but have managed to notch up top spots in fan token ranking.    The price movements of country fan tokens are likely linked to the performance of the specific country’s football team performance in World Cup 2022. Fans might be compelled to buy fan tokens to receive fans' rewards if their favorite teams fare well during the 2022 World Cup. For example, as fans get used to the fan token concept, they may continue to stay on Socios.com and switch to their football club fan tokens, later on, suggesting the FIFA hype could possibly act as a gateway and help boost Web3 adoption.    Country fan tokens such as Brazil National Fan Tokens (BFT) are not listed on Socios.com and are directly traded on centralized exchanges. Despite the backup by respective national team associations, owners of country fan tokens are not entitled to the streamlined fan engagement experience offered by Socios.com. Therefore, it is more likely that country fan tokens that are released only on centralized exchanges are more speculative and may experience volatility once the hype subsides. As a highlight, all fan tokens traded on Bybit are football club fan tokens. Trade and share up to 300,000 USDT in prizes here.   Source: Dune Analytics @lcai (data as of Nov 22, 2022)   The above shows that CHZ transactions have rebounded since August and soared as the FIFA hype looms. CHZ transactions indirectly reflect the demand for fan tokens released on Socios.com, as users have to swap CHZ with fan tokens, suggesting that the FIFA World Cup 2022 has indeed boosted the adoption of fan tokens.    In comparison, blockchain games such as Sorare have failed to catch the hype, while new football games such as The Football Club, although spurred by the FIFA hype, have failed to maintain the hype as fan tokens. As such, fan tokens seem to be embraced more by real-world users and may continue to gain popularity even after World Cup 2022, particularly football club fan tokens.   Final Thoughts   FIFA World Cup 2022 has brought something relatively new to the sports industry with the participation of crypto brands and Web3 applications, as it is such a large-scale event. FIFA-related NFTs, blockchain games, and fan tokens have seen boosts from the FIFA hype. Unfortunately, as the cryptoverse is in the throes of an FTX-induced industry shuffle, the Web3 adoption brought by FIFA has turned out to be less significant than expected. However, this positive impact is unlikely to dissipate even after the World Cup 2022 concludes. As such, the football blockchain games, fan tokens, and NFTs may instead continue to gain traction in the future as fans can engage with their favorite football clubs through Web3 applications, illustrating next level opportunities in the industry despite current sentiments.
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Crypto Market Saw A Recovery Last Week

InstaForex Analysis InstaForex Analysis 30.11.2022 14:32
Crypto Industry News: The crypto market saw a recovery last week as Bitcoin (BTC) showed resilience amid heightened uncertainty from the ongoing FTX implosion and unrest in China. After reaching a local peak of $16,744 on Nov. 24, Bitcoin started a gradual decline amid a wider slowdown in market activity as the U.S. celebrated its annual Thanksgiving holiday. BTC price slumped to the $16,000 level in the late hours on Nov. 27 as protests in China against Covid restrictions sparked investor anxiety in global markets. Even though Bitcoin held firmly above the $16,000 mark, it spent Monday in the red as the news of crypto lending firm BlockFi's bankruptcy filing broke. Yet, BTC shrugged off the negative news to see a late-day rally that sent it into positive territory. Overall, the largest cryptocurrency was rangebound in the $16,000-$17,000 zone, closing the week with a 4.4% gain. Technical Market Outlook: The Bitcoin bulls bounced above the local trend line resistance and made a new local high at the level of $17,079, however, there is no follow up with this move up so far as the market keeps trading back inside the old, narrow range. The next technical resistance is seen at $16,793. The momentum bounce from the extremely oversold market conditions was very short-lived and now the indicator is back under the level of fifty. Whipsaw trading conditions inside the range continue. There is no indication of the down trend on Bitcoin to terminate or reverse, so the next target for bears is seen at the level of $13,563 (2019 high).     Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term. Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303164
According To Cory Klippsten Etherum and Solana are "bad coins"

According To Cory Klippsten Etherum and Solana are "bad coins"

InstaForex Analysis InstaForex Analysis 30.11.2022 14:38
Crypto Industry News: Etherum is a 'fraud' that will eventually 'explode' like FTX as Bitcoin becomes the primary global form of money According to Cory Klippsten, CEO and founder of Swan Bitcoin, in the long run, BTC will become the primary form of money in the world, replacing the US dollar and other fiat currencies and beating altcoins: "It is very likely that Bitcoin will continue to grow in size, market capitalization, price and purchasing power for decades and become the world's money, which is likely to replace the US dollar in the long run," he said. 30 years, but it could also be something that won't happen until the next century." Suggesting that altcoins like Etherum and Solana are "bad coins", Klippsten stated that unlike Bitcoin, they cannot hope to become a form of money. He also said that Ethereum is a "scam" that will eventually "go up in the air." "Someone can issue and control the money supply in these altcoins and change the code whenever they want," he stated. . Klippsten, who correctly predicted the fall of Celsius, Luna/UST, and FTX, spoke to Michelle Makori, editor-in-chief at Kitco News. Technical Market Outlook: The Ethereum cryptocurrency has been seen moving higher as the bounce continues above the level of $1,231. The recent local high was made at the level of $1,280 (at the time of writing the article), however, the market has entered an extremely overbought levels. The intraday technical resistance is located at $1,1288. The momentum is strong and positive, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend.     Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303166
The EU Will Move Forward With The Implementation Of The Digital Euro

The EU Will Move Forward With The Implementation Of The Digital Euro

InstaForex Analysis InstaForex Analysis 30.11.2022 14:42
  The collapse of FTX and its implications for the entire ecosystem of the crypto sector prompted lawmakers around the world to pay more attention to the regulation of the nascent asset class. The U.S. House of Representatives announced they would launch an investigation into the FTX collapse at a hearing scheduled for December 13. The hearing was titled "Investigating the Collapse of FTX, Part I" and is expected to be the first in a series of hearings examining the exchange, its business operations, and the broader implications of its closure. Senate lawmakers are also keen to take a closer look at the FTX crisis, with the Senate Agriculture Committee due to hold a hearing on Thursday, and the Senate Banking Committee is working to schedule its own hearing in the near future.     Lagarde reiterates calls for regulation of cryptocurrencies European Central Bank President Christine Lagarde said that the "stability and reliability" of cryptocurrencies "has been exposed in the most obvious way recently" when answering questions from politicians in the European Parliament concerned about the impact of FTX's downfall. This line of questioning prompted Lagarde to reiterate a previous call for stronger cryptocurrency legislation as parliament awaits a final vote on its Markets in Crypto-Assets (MiCA) regulation, which is expected to pass in early 2023. According to her, the introduction of MiCA will allow Europe to become "pioneers in this world of great inventivity and great unreliability," but added that "here will have to be a MiCA II" to strengthen control over cryptocurrency. "Europe aims to be a leader in that respect," she said. During previous discussions on the topic of MiCA II, Lagarde suggested that the expanded framework should take into account risky connections to traditional finance as well as crypto activities beyond MiCA, such as decentralized finance (DeFi). Lagarde also stressed the need for an alternative to digital payments, which will offer EU citizens unlimited access to the digital euro. "We have to be able to offer that, otherwise somebody else will take that place," Lagarde warned. A decision on whether the EU will move forward with the implementation of the digital euro is expected by September 2023. Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328569
Earning on the cryptocurrency market - mining, staking, NFTs and more

Earning on the cryptocurrency market - mining, staking, NFTs and more

FXMAG Education FXMAG Education 30.11.2022 17:00
Introduction Investing is a difficult art of choice, one that can bring a quick fortune or an equally quick bankruptcy on the cryptocurrency market. This text will outline the most popular methods of making money in the crypto market. First it is necessary to start with the basic concepts and general understanding of the topic, we will not propose how to assemble your first miner nor what is the most profitable form of staking, but we will quickly organize our knowledge about investing capital in the cryptocurrency market, so that at least at this stage you do not repeat that Cryptocurrency is just a bet and a matter of luck if the project you've gotten yourself into will shoot enough into space. Earning on the crypto market The basic method of earning on the cryptocurrency market i.e earning on a change in value. This refers to a change in value because currently, we have tools that give us the opportunity to earn not only on increases but also on decreases in the prices of some cryptocurrencies. It is the dynamic increase in cryptocurrency prices that is the main reason there are so many cryptocurrency millionaires. Just like other assets, such as gold, cryptocurrencies such as bitcoin have been wrapped in various types of financial instruments. Thus, first of all, it is possible to buy real cryptocurrencies, i.e. those that can be stored, for example, on hardware wallets. If we had to compare it to popular investments, we would say that it is the same as buying gold in physical form. With the rest of these comparisons to the gold market, there will be definitely more. In the case of such a purchase, of course, we limit the loss only to the size of our investment. We can call such a purchase of real cryptocurrencies a spot transaction, and cryptocurrencies can be purchased directly from another user or using a cryptocurrency exchange such as the Binance Exchange. But in order to earn on the exchange rate difference, increase or decrease, it is not necessary to have elementary knowledge about the functioning of the cryptocurrency market. There are plenty of intermediaries in the form of brokers, not cryptocurrency exchanges who give us the opportunity to invest and receive advice. Of course, this is referring to CFD instruments. However, it should be remembered that brokers in the case of this type of instruments earn primarily from your losses, and the spread that they offer, i.e. the difference between the purchase and sale price, can be really large, which often excludes, for example, concluding transactions for a short period. Cryptocurrencies have also been packaged in futures contracts, i.e. futures contracts. CFDs and futures give us the opportunity to earn even faster on the price change through the leverage mechanism. However, this is a double-edged sword, so if you are a beginner in the cryptocurrency market, make a transaction on the spot market first. When it comes to financial instruments, Bitcoin and other cryptocurrencies can be purchased by investing in a passive investment fund, or ETF. And finally, cryptocurrencies are also options speculation. Which requires much more knowledge from us, and not the one related to the cryptocurrency market . Investing methods when it comes to cryptocurrencies Hence, the first method of earning on the crypto market is primarily the purchase or sale of cryptocurrencies or financial instruments that are based on this market. How long it will hold its cryptocurrencies will determine whether we are short, medium or long-term investors (on the crypto market, the latter are the so-called holders). As in the case of gold, in the case of cryptocurrencies there is a process of mining or digging cryptocurrencies. This analogy to the gold market fits perfectly into the idea of cryptocurrencies. After all, these assets were supposed to be an alternative to the system of fiat currencies that departed from the gold standard, The concept of cryptocurrency mining Instead of a shovel, we need a computer with adequate computing power that uses energy instead of hand strength. This computer will solve complex algorithms as a result of which we will receive a certain number of cryptocurrencies. Therefore, mining requires an investment in equipment, and in the process itself which will require costs that are related to powering the computer, which may force investors to sell cryptocurrencies on a regular basis to pay, for example, electricity bills. Staking cryptocurrencies The third interesting way to earn money on the cryptocurrency market is staking. Staking is nothing more than blocking your cryptocurrencies in the appropriate cryptocurrency network, thanks to which we receive interest depending on the amount of the rate set by the network. Staking enhances certain factors, such as network security, the same way money on deposits enhances the security of a given bank. Not all cryptocurrencies undergo this process. But if you want to see the potential of this method, then jump on the website binance.com Earnings tab. In a normal world, a person can earn on their capital by making it available, of course, we are talking about loans. The world of cryptocurrencies also gives us this opportunity with the help of DeFi, i.e. the decentralized finance sector. NFTs as an investment And finally, another method of earning on this market is the creation of cryptocurrencies or tokens (such as a NFT), which do not necessarily have to be created from scratch, because we can use ready-made solutions, but in this case we have to make sure that our project is noticed by other market participants. The world of cryptocurrencies (if it is technologically innovative) in terms of earning methods does not differ much from those methods that we have known for hundreds of years. And as with gold, you can decide whether you want to buy a gold bar, a virtual position in the gold market, you want to buy a shovel and look for gold, or maybe you want to buy shares in a gold mine, or you want to team up with others to look for gold, or maybe you want to lend money to those who go look for gold and in the world of cryptocurrencies you will find equivalents of this type of capital investment.
Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

Popular crypto bridges and the ways they work - Avalanche Bridge, Polygon Bridge and more

Binance Academy Binance Academy 30.11.2022 23:11
TL;DR Crypto bridges are essential for facilitating interoperability among various blockchains. They connect previously isolated crypto ecosystems so that users can share data and transfer assets across separate blockchains which have their own individual technological and economic rules.  Crypto bridges can be categorized as trusted, trustless, uni-directional, and bi-directional. Solana Wormhole Bridge, Avalanche Bridge, and Polygon Bridge are some of the popular crypto bridges used to move assets around, and each bridge presents unique advantages. Introduction Generally, blockchains are not inherently interoperable, meaning that data and assets on one blockchain can’t be transferred to another blockchain. Many projects tackle this problem by building crypto bridges between them to facilitate data and asset transfers. However, each crypto bridge connects only specific blockchains and is therefore not a one-size-fits-all solution. If a team builds a bridge between ETH and BTC, for instance, that bridge cannot be used to move assets from XRP to ETH. Also, only users who have crypto wallets compatible with a particular bridge can use that bridge. Learn more on Binance.com What Is a Crypto Bridge? A crypto bridge is a protocol that enables two or more blockchains to work and share data with each other. It connects blockchains so users on one network can participate in the activities of another. This allows crypto users to utilize their holdings outside native chains. Blockchains differ in their tokens, consensus mechanisms, communities, and governance models. A crypto bridge facilitates blockchain interoperability, allowing data and crypto asset transfers across different chains. Crypto bridges also allow blockchains to build off one another’s strengths. For example, Bitcoin doesn't have to reconstruct its blockchain to incorporate smart contracts because other networks can fill that gap. Additionally, crypto bridges allow developers to communicate and collaborate regardless of which network they're working on. As such, protocols can more easily connect and build upon one another's features and use cases. Usually, crypto bridges port tokens from one network to another by wrapping them, a process whereby the bridge locks the original token in a smart contract and creates an equivalent amount of wrapped tokens, such as WETH for ETH or WBNB for BNB. There're also other technologies focusing on interoperability in the crypto ecosystem. One such example is Layer 0 protocols. Layer 0s allow other blockchains to build on top of them by offering the blockchains a common underlying layer. Therefore, a blockchain doesn't require bridges because each blockchain building on top of Layer 0 connects to other blockchains right from the start. Types of Bridges Trusted bridges Trusted bridges depend on a central entity or a system. They include external verifiers to safely facilitate the transfer of data and value. However, this also means they require users to give up control of their crypto assets, which contradicts the crypto ethos of self-custody. Trustless bridges Unlike trusted bridges, trustless bridges don’t rely on third-party entities. Instead, they operate in a decentralized manner by utilizing smart contracts that manage the interoperability process. As such, users can maintain ownership of their crypto. While trusted bridge users must rely on the bridge operators’ reputation, trustless bridge users look to the underlying code instead.  Uni-directional bridges Uni-directional (or one-way) bridges enable users to move their crypto to another network without the possibility of sending them back via the same route. This means they should be used only for one-way transactions. Bi-directional bridges Bi-directional bridges, on the other hand, allow the transfer of assets both ways. They provide a more seamless way to transfer data and crypto between two networks. And as such, might be more convenient for a user who frequently uses two networks to send and receive crypto. Solana Wormhole Bridge A bi-directional bridge, Wormhole seeks to facilitate the movement of quickly and cheaply tokenized assets across blockchains by tapping into Solana's high-speed and low-cost structural advantages. Solanas's goal for Wormhole was to solve common issues with decentralized finance (DeFi), such as high gas fees, price slippage, and network congestion. When it launched in 2020, it offered a decentralized way to bridge ERC-20 and SPL between Ethereum and Solana. Nowadays, Solana Wormhole allows crypto transfer among 17 chains. Wormhole was developed together with Certus One, a company running nodes for blockchains and providing infrastructure security services for proof-of-stake (PoS) blockchains. As developers can employ Wormhole to access the Solana network, there is no need for a crypto project to rewrite their own codebases for Solana.  The bridge is based on decentralized cross-chain oracles. These so-called "guardians" bring tokens from one chain to another by locking up or burning tokens on one chain and minting or releasing them on another. The “guardians” are run by node operators such as Solana validators and ecosystem stakeholders. Their aligned incentive structure with Solana may help to keep the bridge reliable. Avalanche Bridge Another bi-directional bridge, Avalanche Bridge (AB) was built especially for retail users and launched in July 2021 by Ava Labs. The bridge is a replacement of the previous bridge design, called Avalanche-Ethereum Bridge (AEB), and boasts fees that are approximately five times lower than those of its predecessor. In addition, AB strives to further improve the asset-bridging experience for users by focusing on security, faster finality, and lower fees. AB also connects Ethereum and Avalanche by enabling users to transfer Ethereum ERC-20 tokens to the Avalanche Mainnet.  The AB design consists of a private codebase (or "Inter SGX") and relayers (called wardens.) The Intel SGX application is a private enclave that creates a more secure computing environment by facilitating operations in a closed space and ensuring the bridge is tamper-proof. The warden's main job is to monitor the Avalanche and Ethereum blockchains. Whenever a warden sees an ERC-20 token coming to Avalanche Bridge's Ethereum, they register the transaction in the Intel SGX enclave. However, when tokens are sent from Avalanche to Ethereum, the enclave confirms that the wrapped ERC-20 coins are first burned to signal the transfer of the equivalent amount to Ethereum. Finally, when the transaction is confirmed, the token is either locked and minted or burned and released. Polygon Bridge The trustless Polygon Bridge was first proposed in early 2020 by the Polygon team to increase interoperability between the Polygon and Ethereum networks. The bridge went live later that same year. Nowadays, it allows users to transfer tokens and non-fungible tokens (NFTs) between Ethereum and Polygon. Now users can take advantage of Ethereum's popularity while utilizing Polygon’s lower fees and faster transaction times. Polygon has two bridges through which users can transfer assets: the Proof-of-Stake (PoS) bridge and Plasma bridge. The former secures its network by adopting the PoS consensus algorithm. While deposits are completed almost instantly on the PoS bridge, withdrawals may sometimes take longer. This bridge supports the transfer of ether and other common ERC tokens. The Plasma bridge uses the Ethereum Plasma scaling solution to offer increased security. Users can use the bridge to transfer Polygon's native token, MATIC, and certain Ethereum tokens (ETH, ERC-20, and ERC-721).  Bridging tokens using Polygon follows typical bridging logic. Tokens that leave the Ethereum network are locked, and the same number of tokens are automatically minted on Polygon at a one-to-one peg. Similarly, when bridging tokens to Ethereum, the pegged tokens on Polygon are burned and the Ethereum tokens are unlocked.   Closing thoughts While crypto bridges make the crypto ecosystem more interoperable, you should always do your research so you can pick the most suitable bridge to use. Remember that bridging doesn't change the circulating supply of the cryptocurrency you want to transfer. Bridges simply lock tokens on the sending network and mint new tokens on the receiving side, creating wrapped tokens. If the wrapped tokens are sent back to the native chain, they are burned before the original tokens are released on the other side. Further reading: How to Use the Polygon Bridge? Atomic Swaps Explained What Is Web 3.0 and Why Does It Matter? What Is Staking In Crypto? What Is Layer 1 in Blockchain?
Bitcoin Is Showing A Good Sign For The Further Rise

The Post Of The ECB Made The Crypto Community's Reactions

InstaForex Analysis InstaForex Analysis 01.12.2022 08:53
Crypto Industry News: In light of the recent collapse of FTX and the liquidity scandal, regulators in the European Union have joined other global regulators in pushing for clearer guidelines and regulations for cryptocurrencies. The European Central Bank (ECB) published a post on November 30 titled "Bitcoin's last stand", which summed up Bitcoin's financial career with current price volatility. However, instead of drawing an objective picture of the cryptocurrency history so far, he only presented its disadvantages. Written by Ulrich Bindseil and Jurgen Schaaf, director general and advisor to the ECB, the article says the digital currency is "on the road to insignificance." He also claimed that BTC is rarely used for legal transactions, and that the attention from regulators around the world could be "misunderstood as approval." In addition, he warned banks against interacting with the digital currency as it could damage their reputation. However, where there are libels against crypto from traditional, centralized financial institutions, there are defenders. The crypto community is always ready with answers to bust myths and defend their assets. The tweet from the ECB itself received hundreds of responses, and the cryptocurrency community verified the claims made in the article and emphasized the origin of its authors. Technical Market Outlook: The Bitcoin bulls bounced above the local trend line resistance and made a new local high at the level of $17,248. The BTC spiked up over 11% already and the next technical resistance is seen at $17,600. The immediate technical support is seen at $16,984 and $16,793. The momentum is strong and positive, but the market conditions are now extremely overbought on the H4 time frame chart. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-12-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303323
Ethereum Could Drop Deeper As The Bias Remains Bearish

Several US States Are Investigating Several Major Crypto Companies

InstaForex Analysis InstaForex Analysis 01.12.2022 08:59
Crypto Industry News: Alabama and several other US states are investigating several major crypto companies, including Genesis The investigation is allegedly into potential securities breaches and links with retail investors. According to November 25 reports, lending firm Genesis Global Capital and other crypto firms are under investigation by US securities regulators. Joseph Borg, director of the Alabama Securities and Exchange Commission, confirmed that his state and several other states are involved in investigations into Genesis' alleged ties to retail investors, and whether the platform and other cryptocurrency companies may have violated securities laws. This information was provided by Barron's. It is not yet known which other companies have also been taken under the scrutiny of administrative authorities. Technical Market Outlook: The Ethereum cryptocurrency has been seen moving higher as the bounce continues above the level of $1,288. The recent local high was made at the level of $1,308 (at the time of writing the article), however, the market has entered an extremely overbought conditions. The intraday technical resistance is located at $1,1288, but the next target for bulls is seen at $1,343. The momentum is strong and positive on the H4 time frame chart, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-12-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303325
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Ledger Wallets Also Now Support CRO Holdings | MakerDAO And Increasing The DAI Savings Rate

Crypto.com Accelerate the... Crypto.com Accelerate the... 01.12.2022 12:59
Ethereum staking withdrawals enter the testnet stage. Gas usage on Ethereum L2 networks reaches record monthly high. Aave proposes governance changes after failed US$60M short attack. Weekly DeFi Index This week’s market cap and volume indices were positive at +8.02% and +5.48%, respectively, while volatility index was negative at -4.55%. Check the latest prices on Crypto.com/Price New Project Spotlight Crypto.com announced Ledger support for its Crypto.com Wallet Extension. Users can now import and confirm transactions using their Ledger hardware wallet, allowing for a more secure experience when interacting with dApps. Ledger self-custodial wallets also now support CRO holdings on Cronos (in addition to the Crypto.org Chain). Users can easily manage their CRO through the Ledger Live app from the security of their Ledger wallets. News Highlight Ethereum staking withdrawals have entered the testnet stage. Developers have launched a multi-client devnet to test the unlocking of Ether staked, and the withdrawal will be part of the Shanghai upgrade.  Gas usage on Ethereum Layer-2 networks just hit a record all-time monthly high, seeing over 103 billion gas used — a huge leap from 33.2 billion at the start of the year. The fees were mainly used to validate transactions and operate bridges in Layer-1.   In light of the recent failed US$60 million short attack on Aave, the project’s contributors proposed governance changes to cover $1.6 million in Aave’s bad debt. Another separate proposal has been drafted, calling for temporarily freezing certain assets on the platform to prevent further market attacks.  Compound Finance users have also passed a proposal to impose new borrow limits on 10 of its assets, with the goal to reduce risks relating to liquidity, market changes, and price manipulation and exploits, among others.  MakerDAO‘s governance forum has voted to hike the DAI savings rate up to 1%. The proposed changes aim to ensure liquidity to maintain DAI stability and to take the staking yields to be on par with yield offered by other DeFi protocols such as Aave and Compound.  DEX aggregator 1inch releases Rabbithole, a new feature that will protect users from ‘sandwich attacks’ — a type of crypto front-running that involves controlling asset prices by placing two orders and surrounding pending transactions. Rabbithole works by sending swap transactions directly to validators while avoiding the mempool, where it is vulnerable to sandwich bots’ attacks.  Ethereum software firm Consensys updated its privacy policy, outlining how it  “collects, uses, shares, and stores personal information of users of its websites” through its on-chain wallet service Metamask. Recent Research Reports     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy?         Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs.   Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.   Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
FX Daily: Upbeat China PMIs lift the mood

The Signals Coming From China Look Very Positive

Craig Erlam Craig Erlam 01.12.2022 13:04
We’re seeing green flashing across the board on Thursday, with sentiment buoyed by positive signals on Fed rate hikes and China’s Covid response. While it could be argued that Jerome Powell’s comments on Wednesday were relatively balanced – slower tightening now but rates high for longer – the last year has proven that anticipating the path of inflation for even a short period ahead is incredibly difficult. Knowing what the Fed intends to do next is far more valuable than what it thinks it may do 6-12 months down the line. And anything that is perceived to reduce to possibility of an interest rate recession is going to be a positive for equity markets. The Fed has every opportunity to tighten more in the months ahead if the data doesn’t play ball. What’s far more difficult is undoing the damage caused by moving too fast now with little to no visibility on how impactful past tightening has been. Positive signals The signals coming from China also look very positive. While we shouldn’t expect a dramatic shift in policy from the leadership, particularly before the March Congress, any modest softening in its Covid-zero policy will and should be welcomed. The approach has been extremely damaging to growth and confidence and the protests highlight how public opinion towards it is changing. We shouldn’t be naive to the fact that a move away from the policy won’t be easy and there’ll be plenty of setbacks. But it’s certainly a step in the right direction that, along with the measures announced to revive the property market, could put the economy on a much better path. Some relief for cryptos The risk relief rally is coming at just the right time for bitcoin, helping it to recover from the lows to trade around $17,000. This is around the highs of the last few weeks since it settled after its latest plunge. Whether it will be enough to revive interest in the cryptocurrency, I’m not sure. The FTX fallout is continuing to weigh heavily on the space and the prospect of more contagion or scandals is hard to ignore. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Stablecoins Could Be Used As A Way Of Storing Capital

ApeX Pro - The Best Features Of DEX And CEX In One

ByBit Analysis ByBit Analysis 01.12.2022 12:44
Cryptocurrency trading is heavily dominated by centralized exchanges (CEXs), with more modest volumes contributed by decentralized exchange (DEX) protocols. These main crypto trading platforms have their own unique pros and cons. However, the industry has now moved to new frontiers with the introduction of ApeX Pro, a unique platform that elegantly combines the advantages of both CEX and DEX trading modes. The platform’s decentralized nature, coupled with the order book model familiar to the majority of traders, have moved decentralized finance (DeFi) closer to mainstream adoption by the trading community. What Is ApeX Pro? ApeX Pro is a DEX product built on the ApeX Protocol, a permissionless platform launched on Arbitrum in early 2022, that uses an order book trading model. ApeX Pro is designed for derivatives crypto trades, specifically perpetual futures contracts. The platform allows you to carry out your perpetual futures trading while enjoying unique benefits such as zero gas fees, access to significant leverage and minimal slippage, thanks to the use of the order book model. ApeX Pro offers you a completely private platform without Know Your Customer (KYC) requirements. At the same time, it provides enhanced security of trading, thanks to StarkEx, a Layer 2 secure scalability engine from StarkWare. StarkEx helps ApeX Pro securely verify the validity of transactions. In the largely “Wild West” world of DeFi protocols, very few platforms give you such security benefits. In addition, ApeX Pro’s order book system provides a familiar setup for many traders — even those with virtually no crypto trading experience under their belt. Source: pro.apex.exchange How ApeX Pro Works The StarkEx engine that powers ApeX Pro uses cryptographic proofs to validate transactions. These are then further processed using Validium, another cutting-edge technology that helps ApeX Pro achieve faster verification times and scalability without sacrificing security. Using this secure and highly scalable environment, you can carry out quick and low-fee perpetual futures trading. Multi-Chain Support A key advantage of ApeX Pro is its multi-chain nature. At the moment, support for deposits and withdrawals is available on four popular blockchain platforms — Arbitrum, Ethereum (ETH), Binance Chain (BNB), and Polygon (MATIC). In theory, the platform is capable of supporting other Ethereum virtual machine (EVM) compatible chains as well. As such, we might expect more chains to be added in the future. High Performance ApeX Pro is capable of processing ten trades per second, and 1,000 order placements and cancellations per second. The platform is therefore scaled at a magnitude that hardly any other DEX platform can match. StarkEx helps the platform achieve stellar processing speeds as a high-speed Layer 2 solution for the Ethereum blockchain. Transacting directly on Ethereum is significantly slower (a transaction finality time of between 10 and 30 seconds), and for that matter, more expensive, than routing transactions via StarkEX. Maximum Security & Privacy The ZK-proofs generated by StarkEx ensure that most of the transaction data is private and well-protected from any security breaches. Only balance charges are eventually made visible on Ethereum, where the final transaction data is stored. This helps securely protect your transaction activity and conceal it from the prying eyes of those who shouldn’t be privy to your trading activities. Couple this with no KYC requirements, and you have a fully private decentralized trading experience. As such, ApeX Pro is a platform that privacy-focused perpetual contracts traders will certainly appreciate. Benefits of ApeX Pro ApeX Pro’s highly scalable and secure architecture, underpinned by StarkEx technology, isn’t its only advantage. Perpetuals traders — both experienced and novice — will also appreciate the platform’s distinct transaction benefits. Order Book Model The use of the order book model is among ApeX Pro’s key advantages. While the alternative automated market maker (AMM) model has grown very popular in the crypto industry, it’s been known to suffer from some significant disadvantages, such as high slippage and the risk of impermanent loss, and is inarguably unfamiliar to less experienced crypto and traditional finance traders. While AMM environments can be confusing to traders without deep expertise in cryptocurrency trading and liquidity mining, the order book model is a well-recognized system for any current or aspiring trader. By using this highly familiar trading model, ApeX Pro opens the doors of crypto derivatives trading to diverse segments of users. If you thought that your traditional stock market experience may not be suitable for trading crypto perpetual contracts, try ApeX Pro for a U-turn on that belief. Cross-Margin Trading ApeX Pro also supports cross-margin trading, which allows you to transfer margins between your different accounts to meet the minimum margin requirements. If you have a surplus margin in one account, moving it to another account that’s at risk of falling below its minimum will help avoid liquidation. Low Fees and Greater Leverage Traders on ApeX Pro have access to leverage of up to 20x. You can also enjoy zero gas fee transactions, with instant settlement. The actual trading fees are also among the lowest in the industry, with the standard maker fee of 0.02% and the taker fee at 0.05%. Trading With Rewards Source: apex-pro.gitbook.io ApeX Pro offers a variety of crypto rewards for regular users. Its Trade-to-Earn program rewards users for trading and staking activity. Rewards under the program are paid in BANA tokens (covered further in this article), and are settled weekly. Meanwhile, the majority of other DEX platforms have payouts/settlements with significant multi-month or even year-long lockup periods. ApeX Protocol Tokens ApeX Pro uses two key tokens, APEX and BANA. APEX Token The APEX token’s two main functions are governance and user incentivization. Holders of the token may participate in governance polls to decide on changes or new features for the ApeX Protocol and its specific products. In this context, the protocol itself should be distinguished from products based on it. For instance, ApeX Pro specifically refers to a DEX product hosted on the underlying ApeX decentralized protocol. Ownership of APEX doesn’t limit you to decisions on ApeX Pro only; the token’s governance functionality extends across the protocol. However, it should be noted that, at the moment, the protocol’s only complete product on the mainnet is the DEX itself, ApeX Pro. Besides governance, APEX is also used to incentivize the platform’s user community for referrals and liquidity provision. APEX is an ERC-20 token on Ethereum. It has a maximum and total supply of 1 billion. The token’s circulating supply currently stands at nearly 50 million APEX. With the token’s current price of $0.33 (as of December 1, 2022), its market cap is about $16.3 million. BANA Token Source: ApeX Pro Litepaper BANA is used largely as a reward token. Earlier, we mentioned the platform’s innovative Trade-to-Earn rewards program, whose weekly payouts are made in BANA tokens. This token’s entire supply has been minted from 25 million APEX, specifically allocated for minting BANA. The BANA rewards may be swapped for USDC, a leading and highly liquid stablecoin, or used to add liquidity to the BANA-USDC pool for additional BANA rewards. Additionally, at the end of the Trade-to-Earn event, which is slated to last a full year, users will be able to turn their BANA rewards into APEX tokens. During the year-long Trade-to-Earn event, $190,000 worth of BANA tokens will be distributed to participants every week. That amounts to a bounty of nearly $10 million over the course of the year — all for active crypto perpetual futures traders to grab. BANA’s value is maintained through a Buy & Burn Pool (BBP), whereby 50% of APEX transaction fees are used to buy back BANA tokens and burn them. Is ApeX Pro Safe? ApeX Pro is one of the safest products in the world of DEXs. It features both excellent transaction security features and complete privacy. The platform’s security is underpinned by StarkEx’s cryptographic protection mechanism, which ensures that only a minimal amount of information is disclosed on Ethereum’s public ledger system. The platform’s overall architecture combines the privacy of a decentralized system with the efficiency and protection of a well-maintained CEX. Moreover, ApeX Pro's contracts have been officially audited by Secure3, and StarkWare's contracts have also gone through rigorous audits. This demonstrates ApeX Pro’s commitment to being a perfectly safe DEX with which you can trust your funds. Where to Buy APEX Token As of November 30, 2022, the APEX token is available via Bybit and Uniswap. You can buy it on Bybit’s spot market for USDT and USDC. Conclusion ApeX Pro is a unique platform that combines the best features of DEXs and CEXs. It offers a privacy-preserving, permissionless and highly secure trading environment that features the order book model so familiar to many traders. Add its great scalability and zero gas transactions, and you’ll be hard-pressed to find a better decentralized platform for crypto perpetual contracts aficionados. Source: ApeX Pro: A Simplified DEX for All Traders | Bybit Learn
Crypto Lender BlockFi Became The Latest To Fall

FTX collapse: Sam Bankman-Fried said withdrawals could open soon

FXStreet News FXStreet News 01.12.2022 16:11
Sam Bankman-Fried, former CEO of bankrupt crypto exchange FTX, said withdrawals from FTX US could open soon. The former FTX executive hinted that LedgerX could be up and running in the near future. Bankman-Fried added that he cannot make promises while claiming that FTX US customers could soon be made whole. Sam Bankman-Fried, popularly known as SBF, told New York Times’ Andrew Ross Sorkin that FTX US customers could be made whole soon. SBF claims that these entities: FTX US and FTX US derivatives, formerly known as LedgerX, could be “up and running soon.” Sam Bankman-Fried claims withdrawals could open at FTX US Sam Bankman-Fried, co-founder and the former CEO of FTX exchange, spoke to Andrew Ross Sorkin of “The New York Times’ DealBook.” SBF made a virtual appearance at the media company’s DealBook Summit and assured FTX US users that withdrawals could open soon. Read next: Tech stocks: Mullen loses almost 5%, Tesla gains over 7%. Nasdaq soars on the back of Powell's rhetoric | FXMAG.COM SBF has been vocal about the fall of his crypto empire, the liquidity crisis and failed attempts at getting FTX exchange and its subsidiaries bailed out. The former FTX CEO has apologized to users and finally stepped into the media spotlight from the Bahamas on November 30. Andrew Ross Sorkin asked SBF a host of questions on risk management, regulation, real-estate in the Bahamas and FTX entities’ solvency. Commenting on FTX US exchange platform, SBF said, The US platform—the US regulated platform with American users—to my knowledge, that’s fully solvent. That’s fully funded and I believe that withdrawals could be opened up today and everyone could be made whole from that. LedgerX could be up and running soon Sam Bankman-Fried’s FTX US acquired LedgerX in October 2021. SBF renamed LedgerX as FTX US Derivatives. The exchange platform offers cryptocurrency futures, options, and swaps. When FTX exchange went bankrupt, LedgerX was one of the entities that remained solvent. Commenting on the future of LedgerX, co-founder of the FTX empire said that FTX US derivatives could “even be up and running right now.” According to a Bloomberg report, FTX US derivatives made $175 million available for use in the FTX’s bankruptcy proceedings. The derivatives platform therefore offered a crumb of support to FTX, that owes $3.1 billion to its top 50 creditors.
Bitcoin Maintains A Steady Bullish Potential

Telegram's Next Step Is To Introduce Various Decentralized Tools

InstaForex Analysis InstaForex Analysis 02.12.2022 10:04
Crypto Industry News: Pavel Durov, the founder and CEO of the Telegram application, believes that the demise of FTX happened because the blockchain industry recently moved away from its decentralized nature. He argued that several people abused power, which led to a spectacular implosion. The Russian-born entrepreneur said Telegram's next goal is to create unattended wallets and decentralized exchanges so that crypto traders can have maximum protection when operating in the sector. According to Durov, such unlucky situations as with FTX will be eliminated if blockchain-based projects return "to their roots - decentralization." "Cryptocurrency users should switch to 'no trust' transactions and self-hosted wallets that do not rely on a third party," Durov said. Durov called on developers to create "fast and easy-to-use decentralized applications for the masses." He said it only took five weeks to build Fragment, a fully decentralized blockchain platform powered by The Open Network. He added that Fragment has been quite successful, selling around $50,000 worth of usernames in less than 30 days. The Russian assured that Telegram's next step is to introduce various decentralized tools, such as unattended wallets and a decentralized exchange for "millions of people." Technical Market Outlook: The BTC/USD pair has hit the projected target at the level of $17,310 as expected. The BTC spiked up over 11% already and the next technical resistance is seen at $17,600. Currently, the market is making a local pull-back and the immediate technical support is seen at $16,984 and $16,793. The momentum is strong and positive, but the market conditions are now extremely overbought on the H4 time frame chart. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Weekly Pivot Points: WR3 - $17,057 WR2 - $16,628 WR1 - $16,391 Weekly Pivot - $16,199 WS1 - $15,962 WS2 - $15,770 WS3 - $15,340 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303491
The Commodities Feed: OPEC+ meeting ahead

Oil Bulls In Charge Before OPEC Meeting | Equities Posted Timid Gains

Swissquote Bank Swissquote Bank 02.12.2022 10:16
Sentiment was mixed at yesterday’s trading session. Equity bulls were timid, while the dollar bears were in charge of the market after the latest PCE data, which is the Fed’s favorite gauge of inflation showed that the core PCE index slowed more than expected in October. USD The softening inflation sent the US dollar index tumbling below its 200-DMA for the first time since summer 2021. The US dollar index slipped below its major 38.2% Fibonacci retracement on 2021-2022 rally, and stepped into the bearish consolidation zone. Finally! Markets Trading in equities was much less festive than the FX yesterday, as the ISM manufacturing index warned that the US manufacturing activity fell below 50, the contraction zone, for the first time since summer 2020.Today, the much-expected jobs data should determine whether the S&P500 deserves to quit the ytd negative trend, or stay in it. How strong, or soft the NFP data should be to keep the equity rally going? Watch the full episode to find out more! 0:00 Intro 0:38 US dollar tumbled on soft PCE data 3:51 But equities posted timid gains on ugly ISM figure 4:44 What NFP print could help the S&P500 extend gains? 6:31 Gold broke important technical resistances 7:11 Oil bulls in charge before OPEC meeting, Russian price cap 8:12 Bitcoin rallies past $17K 9:02 Blackstone limits withdrawals from its real estate fund. Ouch. Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #USD #NFP #jobs #unemployment #PCE #data #Powell #speech #economic #data #EUR #GBP #JPY #XAU #crudeoil #EU #Russia #oil #cap #OPEC #Bitcoin #Blackstone #realestate #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq  Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Spotify Is Testing Playlists With NFT Integration In Its Latest Pilot Program

Porsche NFT Collection Will Hit The Market In January 2023

InstaForex Analysis InstaForex Analysis 02.12.2022 10:08
Crypto Industry News: The German manufacturer has prepared the NFT collection, which is to consist of over 7,000 items tokens. This one will be inspired by the classic model - the Porsche 911. The tokens will hit the market in January 2023. The initiative is led by a designer and 3D artist from Hamburg, Patrick Vogel. We know that every NFT buyer will be able to personalize their token. It is about the so-called "route" that will include "lifestyle, performance and heritage". Each such "route" is intended to reflect individual "aspects of Porsche's premium brand identity". Sounds mysterious, but that's not all. The data collected in this way will be needed by Vogel, who is then to prepare NFT as a special 3D resource based on Unreal Engine 5. In addition to personalizing their NFTs, buyers will also be able to participate in brand experiences in the virtual and real world. Porsche, however, does not intend to stop at NFT. The company is also working on integrating blockchain technology with its systems. Technical Market Outlook: The Ethereum cryptocurrency has made the recent local high at the level of $1,308 into extremely overbought conditions. The intraday technical resistance is located at $1,1288, but the next target for bulls is seen at $1,343. The upside might be limited due to the fact, that the level of $1,300 is the upper channel line, so a pull-back towards support is welcome. The momentum is strong and positive on the H4 time frame chart and is coming off the overbought levels. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,253 WR2 - $1,213 WR1 - $1,190 Weekly Pivot - $1,173 WS1 - $1,150 WS2 - $1,133 WS3 - $1,093 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303493
Crypto Lender BlockFi Became The Latest To Fall

Crypto Lender BlockFi Became The Latest To Fall

ByBit Analysis ByBit Analysis 02.12.2022 14:52
News Round-Up for the Week Miami Prepares for Web3 Week Despite dampened sentiments in the crypto space, the week dedicated to celebrating the art scene with a twist of web3 is about to unfold in Miami. Find out more here. BlockFi Files for Bankruptcy as FTX Contagion Spreads Crypto lender BlockFi filed for chapter 11 bankruptcy on Monday, spotlighting the latest contagion effects that have been unleashed by the FTX collapse. Find out more here. Brazil Backs Law for More Crypto Regulation After a series of twists and turns over the past seven years, Brazil’s lower house of Congress finally approved a long-awaited crypto regulation bill that aims to boost oversight of the country’s cryptocurrency sector. Find out more here. Read next: If ECB policymakers should make a decision between fighting inflation and avoiding recession, they will likely choose fighting inflation says Ipek Ozkardeskaya| FXMAG.COM Telegram Reveals Plans for Wallet and Dex Telegram reveals ambiguous plans as the broader industry continues to grapple with the FTX collapse. Find out more here. Magic Eden Introduces Code to Enforce Creator Royalties NFT marketplace Magic Eden is set to roll out code allowing NFT creators on the platform to enforce creator royalties on new collections. Find out more here. Deep Dive This week, we explore areas of Web3 that would benefit from this year’s World Cup and how.  As Web3 reels from contagious effects induced by FTX’s implosion, we dive into whether the FIFA World Cup hype has indeed provided a boost to Web3’s on-chain activities. Find out more here. On-Chain Round-Up for the Week The broader crypto market demonstrated considerable resistance in the face of growing uncertainty and escalating trust crisis, as crypto lender BlockFi became the latest to fall in the ongoing FTX saga. Embroiled in a crypto-specific contagion, major cryptocurrencies seemed to be decoupling from the traditional financial markets. As its members repeatedly telegraphed in recent weeks, Federal Reserve Chair Jerome Powell finally confirmed the slowdown of rate hikes in December, sending U.S. equities higher, while the crypto market behaved unimpressed by the prospect of improved liquidity. As of the time of writing, BTC failed to defend the $17k handle, while ETH headed south towards the $1,250 support.  In retrospect, on-chain metrics categorize the recent meltdown triggered by the FTX contagion as one of the worst selloffs in the history of BTC. In absolute numbers, the crypto market saw a net realized loss of 521k BTC, which is comparable to the height of the bearish cycle from 2018 to 2019. However, the market has also demonstrated considerable strength when compared to the COVID crash, or the more recent LUNA implosion, with only a 26% correction.  As the FTX debacle continues to unfold, the market structure has gone through some notable changes, with a significant volume of coins changing hands at heavily discounted prices. The short-term holders’ cost basis dips below the realized price, suggesting that many directional traders had entered after the market bottomed out, thus gaining a superior position relative to an average holder.  The accumulation trend confirms that holders across all cohorts entered the heavy accumulation phase, with many perceiving the current price discovery period as an opportunity to stack up their holdings. It also signals that coins are moved in large quantities to self-custody.  Macro events to look out for in the coming week  Dec 2, 2022 US Nonfarm payrolls  Dec 5, 2022  US Non-Manufacturing PMI Dec 6, 2022 Chainlink staking launch  Dec 8, 2022  Particle BasicSwap DEX release  Dec 9, 2022 China Inflation Rate World Mobile Token staking snapshot  Three coins to watch Token Reason  FTM Fantom’s recent upside momentum has been chalked up to a positive update on the state of Fantom’s treasury after its advisor Andre Cronje revealed how Fantom’s financial situation evolved over the years in a blog post. The revelation, especially during a period when crypto projects’ liquidity has been in question, is a strong shot in the arm for the network and will likely provide some tailwinds to its native token. Despite Fantom’s TVL having plunged from its peak, investors’ focus has seemingly shifted from fundamentals to assessing who may survive an extended crypto winter. TON Telegram has huge plans for its blockchain-based platform Fragment to move beyond the sales of usernames to become a host of blockchain tools, including non-custodial wallets and decentralized exchange. The username sales platform has already been a huge success, raking in $50 million worth of TON in less than a month. The token’s upside potential may be further boosted by the blueprint.  UNI Uniswap’s recent launch of its NFT marketplace aggregator has boosted a significant surge in the network activity, with the count of new addresses and active addresses soaring to new highs. As the bear market favors the leading player, as the absolute leader in spot trading, Uniswap’s footprint in NFT may possibly grow its user base and, in turn, expand its influence in the cryptoverse. Source: Bybit Blog | This Week in Crypto: BTC Holders Across All Cohorts Resume Accumulation; BlockFi Files for Bankruptcy  
DPX Token Registered A 24-Hour Return Of 11.11%

NFT Marketplace Magic Eden And Its New Code For NFT creators

ByBit Analysis ByBit Analysis 02.12.2022 14:50
BTC Mining Revenue Tanks; Magic Eden Introduces Code to Enforce Creator Royalties Market Insights/AnalysesDaily Bits Dec 2, 2022 Chart of the Day  Stocks whipsawed near key technical levels as traders await the release of employment data later today for clues on the Federal Reserve’s next step. The remarkably resilient US job market is expected to cool, but turning points in the labor market may be hard to capture. The dollar index slid to its lowest level since June this year, and the 10-year Treasury yield declined by 10 basis points.  In the crypto market, Thursday’s rally was short-lived as traders remained cautious about the industry’s outlook and macroeconomic uncertainty. Major cryptocurrencies struggled to defend the newly reclaimed support levels. As of the time of writing, BTC’s price action remains choppy around the $17k handle, after posting a marginal loss in the last 24 hours. In a similar vein, ETH is changing hands at $1,280, moving slightly lower from a day ago. The abysmal performance of the market in November has spelled an end to the “ultrasound money” narrative, for the time being, as the daily ETH supply once again flips to the inflationary model. Mid-to-large-cap altcoins saw mixed performances, with TWT leading the pack on a 9% increase in the same period.  Read next: Investors also seem to have become less sensitive to the Ukraine War, which was a significant driver of crude in the first half of 2022 says Finimize's Luke Suddards | FXMAG.COM BTC mining revenues took a 20% plunge in November in the mining sector,  plummeting to around $472.64 million. The majority of the revenues come from block reward subsidies, while only 3% are from transaction fees.      Talk of the Town  NFT marketplace Magic Eden is set to roll out code allowing NFT creators on the platform to enforce creator royalties on new collections. This move came shortly after the Solana-based marketplace announced an imminent shift towards an optional royal model – one that allows buyers and sellers to determine what percentage of the sale will go to the original artist. Magic Eden’s previous decision to not enforce creator royalties has ignited criticism from the community. The latest solution, dubbed the Open Creator Protocol (OCP), is built on top of Solana’s SPL-managed token standard. It will help to enforce royalties on all collections that adopt the protocol, and allow users to ban marketplaces that have not enforced royalties on their collections. Royalties will remain optional for new collections that opt out of OCP. Source: Bybit Blog | BTC Mining Revenue Tanks; Magic Eden Introduces Code to Enforce Creator Royalties  
Epic Games and Lego Group are collaborating to build a metaverse. Ubisoft is partnering with Reality Labs to create a NFT collection

Over 7000 Porsche NFT to be released, Animoca Brands hints at establishing a fund

Crypto.com Accelerate the... Crypto.com Accelerate the... 02.12.2022 14:00
NFT trading is now live on Uniswap. Porsche is planning a 7,500-piece NFT collection. Animoca Brands starts a $2 billion metaverse fund. New Project Spotlight NFT Collectibles [COMING SOON] “Martian Colony” features 5,555 character NFTs organised into four tribes: Labour, Civilian, Scientist, and Governing. The collection is created by David Fiery, an NFT enthusiast and entrepreneur from Prague. This collection drops on 8 December, exclusively on Crypto.com NFT. [COMING SOON] Lil Bitcoin’s “Chapter 2: Birth Of Bitcoin” brings together art and music. Collectors have the chance to redeem physical comics and exclusive NFTs. This collection will drop on Crypto.com NFT on 14 December Blockchain Games [COMING SOON] The highly anticipated tycoon-style idle game Loaded Lions Mane City, based on the in-demand Loaded Lions NFT project, is set to be released soon. As pioneers of Mane City, all Loaded Lion and Cyber Cub holders will receive exclusive benefits during the land sale and in the game. [COMING SOON] CroSkull V2 Missions are about to start. The new missions feature updates including compounding rewards, multi-collections support, gas fees reduction, and bulk sending. NFT Metrics The following table shows select top collections (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea CryptoPunks $3,429,000(-35%) $83,100 OpenSea Mutant Ape Yacht Club $3,250,000(+97%) $16,600 Crypto.com NFT Loaded Lions $142,000(-27%) $1,700 Crypto.com NFT Match Ready Lions $100,000(+497%) $50 Minted Bored Candy $47,000(+206%) $40 Minted VVS Miner Mole $23,000(-52%) $250 Blockchain Game Metrics The following table shows select top games by weekly Unique Active Wallets (UAW): GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, Wax 257K(+1%) $8K Tiny World BNB Chain 53K(+23%) $37K Planet IX Polygon 49K(+4%) $244K Trickshot Blitz Flow 39K(-28%) $19K Axie Infinity Ronin, ETH 38K(-9%) $7.7M Source: DappRadar Gaming Token Performance The total market cap for gaming tokens now stands at US$5.86 billion, up +2% from last week.     News Highlights NFT trading is now live on Uniswap, with users being able to trade digital collectibles across OpenSea, X2Y2, LooksRare, and other marketplaces using the platform’s NFT aggregator tool. In addition, there is a US$5 million airdrop for eligible historical users of Genie, the NFT marketplace aggregator Uniswap acquired in June 2022. Luxury sports car manufacturer Porsche has planned a 7,500-piece NFT collection based on the classic Porsche 911. The NFTs are targeted to be released in January 2023, and each holder can take part in the process of shaping the design of their individual NFTs. Gaming investor Animoca Brands plans to start a $2 billion metaverse fund. The fund, named Animoca Capital, targets to make its first investment next year and intends to focus on digital property rights in the metaverse.     Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs. Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility. Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy? Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags BLOCKCHAIN GAMING CRYPTO RESEARCH CRYPTOCURRENCIES NFT Source: NFT & Blockchain Gaming Weekly (02/12/2022) (crypto.com)
The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

The Close Relationship With BTC Does Not Allow The Altcoin To Move On Its Own

InstaForex Analysis InstaForex Analysis 02.12.2022 13:29
The cryptocurrency market meets Friday in a lazy mood, which is reflected in the quotes of the main cryptocurrencies. Over the past day, the market capitalization of all digital assets has decreased by almost 1%, which is a significant decrease in the current conditions. Inflation triggers bullish momentum Despite this, the fundamental news background remains positive and neatly spoils the market, where we should expect the next bullish impulse reaction. Fed Chairman Jerome Powell noted that the main signal to reduce inflation will be the PCE Price Index statistics. According to the released data, the economic indicator rose +6% in October. In September, the metric reached 6.3%. The presence of a downward trend in the PCE metric indicates a continuation of the downward trend in the inflation rate. This means that the next inflation report could trigger a boom in high-risk asset markets. Given this, we should expect increased volatility and attention of crypto investors to the next inflation report. Read next: Steen Jakobsen: ECB strategy is praying, hoping and waiting... not exactly action which gives hope for real economy| FXMAG.COM Negative factors With all the positive developments in the fight against inflation, the price of Bitcoin and other cryptocurrencies remains at the local bottom. This provokes huge losses of related industries, which, in turn, negatively affect the upward potential of cryptocurrencies. Bitcoin's hash rate has reached 300 EH/s again, while the price remains near $17k. This provokes one of the largest sell-offs among miners in history. Over the past day, the reserves of mining companies have fallen by 10,000 BTC. In addition, miners sell BTC mining equipment to cover running costs. There have also been reports that mining firms are using hardware as collateral for the loans they need to stay viable. BTC/USD Analysis Given the miners' concerns above, Bitcoin's upward movement has stalled near the $17k–$17.1k resistance level . Despite the slowdown in growth rates, the bears failed to seize the initiative and absorb the volumes of the bulls in the last days of November. As a result, Bitcoin failed to completely leave the "triangle," which means that the probability of a period of local accumulation before the beginning of next week is greatly increased. Technical metrics also point to a pause: the RSI is moving flat, while the stochastic is forming a bearish crossover. Given the divergence of technical metrics and the possibility of a decline, BTC needs to hold the $16.7k level. Otherwise, the price will go to retest $16k and below. However, in general, the activation of buyers, the growing correlation with stocks and a positive fundamental background can provoke a new monthly high. ETH/USD Analysis On the daily chart of ETH/USD, a situation similar to Bitcoin has formed. The price is near the border of the fluctuation range and has every chance to make a bullish breakout and storm $1,400 and $1,450. However, the close relationship with BTC does not allow the altcoin to move on its own, and therefore the main signal for the growth of the ETH price will be the bullish momentum of Bitcoin. Ethereum technical indicators are also echoing BTC and are in a consolidation pause. At the same time, Ethereum on-chain activity is growing, which may indicate an attempt to finally go beyond the $1,050–$1,350 range. It is also worth noting the low activity of sellers in the ETH network, which may indicate a high probability of a successful attempt by the bulls to break through $1,300 over the weekend.   Relevance up to 09:00 2022-12-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/328817
The Commodities: In The Near Term The Oil Market Remains Relatively Well Supplied

Russia Already Sells Oil To Its Trading Partners At Significantly Discounted Levels

Craig Erlam Craig Erlam 02.12.2022 13:23
Steady going into a highly uncertain weekend Oil prices are quite steady on approach to the weekend. There remains considerable uncertainty around the action OPEC+ will take when it meets on Sunday, although there’s every chance that the meeting will be delayed or that discussions take longer than normal, as a result of the price cap being finalized by the EU. A cap of around $60 is now reportedly close to being signed off, the impact of which is still unclear as Russia already sells to its trading partners at significantly discounted levels. The Kremlin has threatened countries that abide by the cap with being cut off which will leave some in a very uncomfortable position; choosing between losing access to cheap Russian crude or facing G7 sanctions. As ever, the devil will be in the detail. But one thing is clear, crude carries significantly more weekend risk and could be extremely volatile on the open next week. Read next: If ECB policymakers should make a decision between fighting inflation and avoiding recession, they will likely choose fighting inflation says Ipek Ozkardeskaya| FXMAG.COM Rally pauses ahead of the jobs data Gold is basically unchanged on the day, with traders clearly having an eye on the US jobs report before deciding what to do next. Given the data of recent weeks, Powell’s comments on Wednesday, and the recent trend in the yellow metal, gold bulls may have good reason to be optimistic, especially if handed a remotely favourable – or not overly hot – jobs report. Of course, when the narrative is set this way going into a release, it always feels there’s scope for a nasty shock and unusually large negative reaction. What is interesting is that gold has breached $1,780 which had been a solid area of resistance recently having been a major level of support in the first half of the year. It broke through there in the aftermath of Powell’s comments before settling around $1,800. A break above here following today’s jobs report could put gold in a very bullish position. Can bitcoin continue its relief rally? Bitcoin has benefited from the improved risk appetite in the broader financial markets this week, allowing for a minor relief rally back toward $17,000. This is only the upper end of its range from the last few weeks but a period of not making new lows in response to further disturbing headlines relating to the FTX collapse will always be welcome. A period of consolidation may be the best the crypto community can hope for at this point, although given where it’s trading now, it will be interesting to see how it responds to a weaker jobs report, should it materialise. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
The Ethereum Market Is In The Pull-Back Mode Now

Institutional Money Is Slowly Replacing The Funds Of Retail Investors

InstaForex Analysis InstaForex Analysis 05.12.2022 10:01
Crypto Industry News: Sandy Kaul, a senior manager at Franklin Templeton, a $1.5 trillion wealth management company, believes that ETH staking opens up significant opportunities for institutions looking at the cryptocurrency market. In her opinion, this feature can become a trigger for mass adoption among institutions: "Let me say this, keep your eyes peeled for this area because he has seen some powerful products that will fill exactly the niche you are talking about." The asset management expert further says that the growth of the cryptocurrency industry reminds her of the area of hedge funds in the 2000s. Then the institutions literally rushed to market sell-offs to take the best positions and take control of the market. "I believe what happened in the hedge fund industry up to and after 2008 can be very illuminating in this situation (regarding the cryptocurrency market). We saw $2 trillion worth of assets flowing in over 3 years. That is a huge influx of money, bringing the industry closer to $3 trillion, which is roughly the level that the digital asset industry reached during the last bull market," says Sandy Kaul. According to the expert, what is happening now is a real revolution of the basic investment base. What was happening in the hedge fund market then and what is happening in the cryptocurrency industry now is the same kind of upheaval. You can also see that institutional money is slowly replacing the funds of retail investors that the latter are pulling out of the market. Thus, funds and institutions are slowly but steadily responsible for an increasing percentage of the cryptocurrency market. Technical Market Outlook: The Ethereum cryptocurrency has made the recent local high at the level of $1,308 in extremely overbought conditions, so a pull-back towards the level of $1,236 was made. Currently, the bulls are again trying to resume the rally. The intraday technical resistance is located at $1,305, but the next target for bulls is seen at $1,343. The momentum is again strong and positive on the H4 time frame chart, so the short-term outlook remains bullish. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,345 WR2 - $1,317 WR1 - $1,305 Weekly Pivot - $1,289 WS1 - $1,277 WS2 - $1,261 WS3 - $1,233 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303690
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

The First Verification Update For BTC Will Be Completed By The End Of This Week

InstaForex Analysis InstaForex Analysis 05.12.2022 10:05
Crypto Industry News: For proof-of-reserve (PoR) audits triggered by the collapse of FTX, cryptocurrency exchange Binance partnered with accounting firm Mazars. The corporation once provided services to former US President Donald Trump for a long period of time. According to a report published by the media, Mazars has been appointed as the official auditor to perform financial verification as part of the Binance PoR update. A Binance spokeswoman said that the accounting firm is allegedly already analyzing all publicly disclosed information about Bitcoin PoR. It will also verify any future updates or tokens. According to information, the first verification update for BTC will be completed by the end of this week. Mazars is a global accounting firm headquartered in the French capital, Paris. As of 2019, the entity is embroiled in a dispute with the House Oversight and Reform Committee over some of Trump's financial records. Technical Market Outlook: Bitcoin spiked up over 12% already and the next technical resistance is seen at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (spike up). The momentum is strong and positive, but the market conditions are now extremely overbought on the H4 time frame chart, so a pull-back towards the local technical support levels seen at $17,173 and $16,814 is possible. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Weekly Pivot Points: WR3 - $17,953 WR2 - $17,573 WR1 - $17,420 Weekly Pivot - $17,221 WS1 - $17,068 WS2 - $16,869 WS3 - $16,516 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/303692
ByBit talks trading bots. What are they? How can they help?

ByBit talks trading bots. What are they? How can they help?

ByBit Analysis ByBit Analysis 30.11.2022 19:05
  To say that the crypto industry moves fast is an understatement. Along with its 24/7 nature, and limitations due to human emotions, reaction time, and transaction speeds, the potential to make consistently profitable trades is limited.   That is why at Bybit, your reliable Crypto Ark, we are always developing next-level products to help you to optimize your trades. In our arsenal of innovative tech solutions, our trading bots perform particularly well in helping you to trade better — specifically our Spot Grid Bot, Spot DCA Bot, and our latest addition, Futures Grid Bot.   But First, What are Trading Bots?   Trading bots are automated tools that leverage the use of one or more smart technologies like artificial intelligence (AI) and machine learning (ML) and execute trades on behalf of their human investors.   Trading bots run on code that is written for specific objectives. Depending on your risk appetite and investment goals, you can employ the use of trading bots that use different trading strategies, such as grid bots for grid trading strategies, or DCA bots if you prefer Dollar-Cost-Averaging.   Let’s look at six ways Bybit’s trading bots can help to optimize your investment decisions.   24/7 Smart Trading   Crypto never sleeps, and unfortunately, humans do. A grid trading bot can perform trades and execute your predetermined investment decisions 24/7, without the need for constant monitoring.   Grid trading is a trading strategy that involves placing orders above and below a set price using a price grid of orders. The price grid consists of orders at incrementally increasing and decreasing prices. Using this strategy, traders would repeatedly buy at the pre-specified price and sell the position when it reaches a predetermined price point.   Grid trading strategies shine particularly in a sideways market, where prices fluctuate within the borders of support and resistance. Bybit’s grid trading bot can make your crypto investments more fruitful, without having to constantly pore through price charts and crypto news.   In it for the long run   If you’re accumulating crypto for the long term, DCA trading bots sit well in your portfolio. As the name suggests, such trading bots help you to automatically invest a fixed amount at regular intervals, regardless of the price of the coin.   This strategy reduces the impact of market volatility and helps you to average out the cost of your trades, thereby maintaining a cost price similar to the market average. In particular, this strategy is ideal for investors who are bullish on an asset and can HODL for a longer time frame.   Read more: Learn How to DCA With Bybit Trading Bot   Providing Market Liquidity   The use of grid trading bots provides liquidity for the exchange. Grid trading bots ensure that you pay the maker fee, which tends to be lower as you provide liquidity for other traders, as opposed to taking them. Grid trading bots work best in sideways markets with no clear direction. Such markets are characterized by large and frequent price spikes. The trading bot can then convert these spikes into profit for the trader.   Read more: How to Use Bybit Futures Grid Bot   Make More Out of Market Volatility   While market volatility can be a stressor for even the most seasoned of traders, it also presents opportunities for astronomical gains. Grid trading bots eliminate the issues from human factors such as stress and emotion, and give traders the ability to monitor the market and execute well-analyzed trades at any hour of the day. Grid trading bots can be used to reap profits across short- and long-term trading strategies by setting different parameters.   Automate Your Investment Decisions   Let’s face it, humans are not as perfect as we wish to be. Trading bots make up for our shortcomings by being highly logical, precise, and emotionless. Trading bots can handle varying levels of sophistication in trading, be it automating a trading strategy on a single trading pair, or routing trades between assets for a diverse portfolio. DCA trading bots take the hassle out of DCA investing by performing the monthly trade on your behalf, which makes it perfect for investors who prefer a more passive approach.   Learn more: How to Automate Your Trades 24/7 With Trading Bots   Diversify Your Portfolio Across Strategies and Markets   Cryptocurrency trading can be complex and requires intricate research and decision-making, all of which can take up a big part of your life. While portfolio diversification is one of the key tenets of investing, it can be a herculean task for the time-strapped. This task can be easily delegated to trading bots, that do well in managing your investment portfolio and maximizing your gains. Spreading your funds across various assets is a good way to soften the impact of market fluctuations.   In Short   Whatever your trading strategy is, there is a trading bot that can make it better. Be it to simplify steps or to take the guesswork out of investing, trading bots are useful tools to wield in your investment journey. They can make up for human factors such as the inability to track the markets 24/7 and emotion-driven trading decisions. These bots are simple to set up and could be vastly time-saving and rewarding in your investment journey.   Make the most out of your trades with Bybit’s trading bots now.         #Bybit #TheCryptoArk #TradingBots Source: Bybit Blog | Trading Bots: 6 Use Cases That You Should Know
Nela Richardson, a chief economist of ADP, points out that these data suggest the observed tightening policy by the Federal Reserve since March this year has a negative impact on job creation and wage growth

Nela Richardson, a chief economist of ADP, points out that these data suggest the observed tightening policy by the Federal Reserve since March this year has a negative impact on job creation and wage growth

Geco One Geco One 06.12.2022 08:20
Bitcoin (BTC) After the first half of November, due to the panic sale caused by the collapse of FTX, the third largest cryptocurrency exchange in the world, Bitcoin has stabilized in the last few days in the range between 15.6k and 17k dollars. Last week, however, some interesting information pushed the leading cryptocurrency slightly above the upper limit of this range. The ADP report published on Wednesday shows that despite the forecasts of 200,000 new jobs in November this year, The US economy created only 127,000 new jobs, which turned out to be significantly worse than last month's result (239,000) Nela Richardson, a chief economist of ADP, points out that these data suggest the observed tightening policy by the Federal Reserve since March this year has a negative impact on job creation and wage growth. The results indicating a deterioration in the condition of the US labour market, therefore, increase the likelihood that the Fed will decide to raise the federal funds rate at its December meeting by only 50 bps, which would signal that the Federal Reserve is approaching the end of the monetary policy tightening cycle, which in turn could be received by the cryptocurrency market with optimism and lead to a certain upward rebound. These expectations were further fueled by the subsequent comments of Fed chairman Jerome Powell, who spoke at the Brooking Institution about inflation and prospects for the labour market and the economy in general. He pointed out that the incoming economic data are encouraging and indicate that a moment has come when it is justified to limit the rate hikes, which may already take place from December. These comments made up 79.4 % of the probability that after four increases in a row by 75 bps, the Fed will decide during its December meeting to raise the federal funds rate by only 50 bps has increased. Just a week ago, the probability of such a move was estimated at 67.5%, and on 10 November, only 52 per cent and 32.5 per cent chances were given to the fifth rate hike in a row by 75 bps. Currently, such a scenario is valued at only 20.6 per cent. Thus, it can be seen that last week's comments by Jerome Powell increased expectations regarding the Fed's pivot, i.e. a change in the attitude of the US central bank to further moves in interest rates. These expectations have remained the same even after BLS publicized the phenomenal report on the American labour market. According to data from the US Labour Office, the local economy created as many as 263,000 new jobs in November. The optimistic tone of this publication was also supported by a positive revision of last month's reading and data on wage inflation and positive revisions of their October readings. • US Nonfarm Employment Change (NFP): 263,000, forecast 200,000, previously 284,000 (revised positive from 261,000) • Average hourly earnings m/m: 0.6%, forecast 0.3%, previously 0.5% (positive revised from 0.4%) • Average hourly earnings y/y: 5.1%, forecast 4.6%, previously 4.9% (positive revised from 4.7%) This is a solid report indicating that the labour market is not weakening. However, it seems unlikely that this publication will be able to persuade members of the Federal Open Market Operations Committee (FOMC) to change their stance and raise interest rates for the fifth time in a row by 75 bps. It may be evidenced by no change in the valuation of the Fed's future monetary policy tightening path and market reaction to Friday's NFP report. While just after its publication, the dollar experienced a growth increase, before the end of Friday's session, the US currency more than gave back the earned profits. It seems, therefore, that the publication of the report on consumer inflation in the US, scheduled for 13 December this year, i.e. the day before the next meeting of the Federal Open Market Operations Committee (FOMC), will be of significant importance for the cryptocurrency market, the fall of which could contribute to the next uptrend. The last publication of this report contributed to the increase in BTC quotations by over 10%. While the Fed's monetary decisions were one of the main catalysts driving the cryptocurrency winter observed for over a year, future meetings could already contribute to a certain upward rebound and the beginning of a new bull market. It is worth noting that although due to strong ties with FTX, the cryptocurrency lender BlockFi has also recently been forced to file for bankruptcy, Bitcoin's quotations have increased by almost $2,000 over the past few days, returning above $17,000, which may signal that the cryptocurrency market has probably already priced in all the negative information about the collapse of the third largest cryptocurrency exchange and its related entities, and macroeconomic events that affect the dollar will also affect cryptocurrency prices again. The return of the negative correlation between BTC and USD may confirm this. Just after the collapse of the FTX exchange, the correlation between these assets changed from strongly negative (-0.94) to highly positive, reaching a 19 November level of 0.84. Now, in turn, we are seeing a return to negative values, resulting in the fall of the dollar driving the rise of Bitcoin. Ethereum (ETH) Ethereum's quotations fell between November 4 and 9 by over 36%, and then, driven by a highly optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of previously defeated support (now resistance). However, this increase lasted only one day; from 11 November this year, the ETH rate fell again, returning to the USD 1100 region, where on 22 November, there was a demand reaction again. The increases observed since then have caused the exchange rate of this cryptocurrency to return to the technical resistance of USD 1,300. If only this barrier is broken, we could expect a further rally north towards the zone between USD 1380-1425 or even USD 1650. Bitcoin Cash (BCH) Bitcoin Cash fell by nearly 31% between 5 November and 9 November, falling to the lowest since December 2018. Similarly to BTC and ETH, in reaction to the US CPI inflation report published on 10 November, it went up by over 22%. It is worth noting that although the increase stopped for several days in the area of ​​the previously defeated support of 106 USD, this resistance was finally overcome. Over the last few days, we have observed its re-test. The demand reaction that appeared around this level initiated the current upward rebound. If this trend continues, the BCH rate could return to USD 125 in the near future or even increase to USD 133.50. Litecoin (LTC) Litecoin's quotations collapsed between November 7 and 9 this year by more than 35 %. This sell-off stopped only in ​​technical support, around USD 50, where evident demand pressure appeared on 10 November. However, the LTC exchange rate increased by over 78 % due to the subsequent appreciation, more than making up for earlier losses. It is worth noting that this increase led to the overcoming of technical resistance levels of USD 64.50 and USD 73. For several days it stopped only in the consolidation between USD 73 and USD 80, from which the LTC rate is currently breaking out. Unless there is a strong supply reaction in the near future that could negate the current increases, the quotations of this cryptocurrency could move further north towards USD 96.
BRICS Summit's Expansion Discussion: Impact on De-dollarisation Speed

The US Dollar Strengthened As A Result Of The Hawkish Fed Rectification

Swissquote Bank Swissquote Bank 06.12.2022 10:21
Stocks fell and the US dollar strengthened on Monday on a stronger than expected ISM services read in the US, which came in above expectations, and hinted that the economic activity, at least in the US services sector continues growing, and growing un-ideally faster-than-expected despite the Federal Reserve’s (Fed) efforts to cool it down. The Aussie In the FX, the Aussie was slightly better bid after the Reserve Bank of Australia (RBA) raised its rates by another 25bp today, and took the rates to levels last seen a decade ago. EUR/USD and GBP/USD But elsewhere, the US dollar strengthened as a result of the hawkish Fed rectification. The dollar index first eased to a fresh low since June, then rebounded. It has way to recover above its 200-DMA, which may mean that some majors, including EURUSD and Cable could return below their 200-DMA as well. Yet, even if we see rebounds in the US dollar, the medium to long term direction of the dollar will likely be the south in the coming months. The EURUSD could recover to 1.10, Cable to 1.30. USD/JPY More stretched… Vontobel sees the USDJPY’s fair value at 100, and Standard Chartered predict Bitcoin could fall another 70%, and spur a 30% rally in gold! Watch the full episode to find out more! 0:00 Intro 0:25 Fed hawks are back 3:07 S&P500 could further fall 4:40 Selling USD rallies sounds like a plan 8:22 A 70% fall in Bitcoin could spur a 30% rally in gold?! Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #economic #data #Fed #expectations #USD #EUR #GBP #JPY #XAU #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
McGlone talks cryptocurrency market hitting "rock bottom"

McGlone talks cryptocurrency market hitting "rock bottom"

Alex Kuptsikevich Alex Kuptsikevich 07.12.2022 07:53
Market picture Bitcoin once again failed to get on the upside track, and its exchange rate fell to $17K, around which it has been languishing since the beginning of the month. The reason for the decline was pressure in the markets due to relatively good economic data, which increased speculation that the Fed would have to go further in raising rates than previously expected. We note that the crypto market recently had very subdued volatility compared to stocks, having missed much of the rally of the last two months but also not feeling the kind of pressure that stocks have been under since early December. Read next: Nigeria Bans Cash Withdrawal Higher Than 225$ To Encourage CBDC Use | FXMAG.COM The cryptocurrency fear and greed index down 1 point by Tuesday, to 25, and had moved into "extreme fear" status. The total capitalisation of the crypto market fell 1.9% to $853bn. The suppressed volatility in the cryptocurrency market is causing market participants to move stop orders closer to the current price. A drop below $16K (-6%) could devastate speculators' positions, delaying a potential market recovery for many more months. On the other hand, a rise above $18K (+6%) could open a direct track to $21K. With professional market makers becoming less active towards the end of the year, it will become increasingly easy to swing the price in either direction (or even in both directions). News background According to CoinShares, investments in crypto funds fell by $11m last week after an outflow of $23m the week before. Bitcoin investments rose by $11m, and Ethereum fell by $4m. Investments in funds that allow shorts on bitcoin fell by $11m. Trading volume was $753m, compared to an average of $2bn a year ago, suggesting low investor engagement, CoinShares noted. Read next: The Australian Dollar Failed To Hold Its Gains, The Pound Strengthened Against The US Dollar| FXMAG.COM Cryptocurrency broker Genesis Global Capital has reached $1.8bn in debt and is likely to continue to grow, CoinDesk reported. Messari estimates that the platform needs to raise at least $500m to avoid liquidation. Bloomberg Intelligence senior commodities strategist Mike McGlone believes that cryptocurrencies are now going through their last phase before hitting rock bottom. However, he says it will be tough for investors and companies to survive this phase. A Chinese court has ruled that non-exchangeable tokens (NFTs) are virtual property that should be protected by law.
Bitcoin Has Made A Dynamic And Aggressive Reversal

Customers No Longer Have To Believe Binance's Claims

InstaForex Analysis InstaForex Analysis 08.12.2022 09:53
The long-awaited report from South African auditing company Mazars was released on Wednesday. It stated that Binance, the largest cryptocurrency exchange in the world, has direct control over 575.742,42 bitcoins (BTC) worth more than $ 9.6 billion. As defined by Mazar's analysts as "performing procedures agreed with Binance and reporting the results," an interaction on agreed procedures (also known as an "AUP") was conducted. Declaring that they do not believe the AUP is relevant and that "It is not a confidence assignment; it is the AUP assignment. As a result, we don't make any claims or express opinions. Additional procedures might have drawn our attention to other issues that were reported if we had conducted them." Mazars also described several methods they used to independently confirm that Binance fully owns the bitcoins, including requesting the exchange transfer of the listed bitcoins to specific addresses at their request. On November 28, one of these steps was noticed in the chain and raised a lot of concern, leading Binance CEO Changpeng Zhao to explain it to reassure customers and the larger cryptocurrency market. Binance's attempt to verify its reserves following the demise of the competing FTX exchange is documented in the Mazars report. On November 10, Binance released the hot and cold wallet addresses and the network activity for its cryptocurrency platform. According to a statement, the inventory data demonstrated Binance's "ongoing commitment to transparency." Customers no longer have to believe Binance's claims about sizeable reserves and support for BTC 1-1 assets after completing the interaction with Mazars' AUP   Relevance up to 07:00 2022-12-22 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/329271
There Are Many Ways To Join A Crypto Community

The Cryptocurrency Market May Shift From Centralized To Decentralized Exchanges

InstaForex Analysis InstaForex Analysis 08.12.2022 09:58
Crypto Industry News: Fabio Panetta, a member of the board of the European Central Bank (ECB), has proposed that the European Union (EU) ban cryptocurrency assets whose issuance has a significant environmental impact. Panetta says authorities should address the environmental impact of mining. He added that tokens "responsible for an excessive ecological footprint should also be banned." He also went on about other threats related to the cryptocurrency market. In his eyes, this is often a threat due to the "incredibly high leverage and interconnections" between entities in the industry. He referred to the collapse of the FTX exchange. "The mismanagement of cryptocurrency companies has compounded these structural flaws. Insufficient transparency and disclosure, lack of investor protection, and weak accounting and risk management systems have been blatantly exposed as a result of the collapse of FTX. After this, the cryptocurrency [market] may shift from centralized to decentralized exchanges, creating new risk due to the lack of a central governing body," explained Panetta. It is worth noting that his call to ban "ungreen" cryptocurrencies comes after the European Parliament's Economic and Monetary Affairs Committee approved the Markets in Crypto Assets (MiCA) Act in October after extensive discussions. The legal framework is now due to be finally approved after legal and linguistic scrutiny by EU lawmakers. Many experts expect the new EU cryptocurrency policy to take effect from 2024. Technical Market Outlook: Bitcoin has been seen testing the local trend line support located around the level of $16,700. So for there was no breakout below the trend line, nevertheless, the momentum remains weak and negative on the H4 time frame chart. The volatility is very limited and the intraday market movements are narrow. The next local technical support is seen at $16,020. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,953 WR2 - $17,573 WR1 - $17,420 Weekly Pivot - $17,221 WS1 - $17,068 WS2 - $16,869 WS3 - $16,516 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304185
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

The Ethereum Cryptocurrency Has Broken Below The Trend Line

InstaForex Analysis InstaForex Analysis 08.12.2022 10:01
Crypto Industry News: In the US, there is a debate on the regulation of the cryptocurrency market. The bill currently being drafted by Senator Elizabeth Warren aims to transfer control of the industry to the SEC. Politicians want to impose new obligations on centralized exchanges. According to Jeffrey Sprecher, president of Intercontinental Exchange Inc (ICE), this will be good for investors. After the collapse of the FTX exchange, many American politicians and officials turned to cryptocurrencies again. Digital currencies have also returned as a topic for public debate. Speaking at a December 6 conference on financial services hosted by Goldman Sachs Group Inc, Sprecher said that cryptocurrencies should be "regulated and treated like securities." - What does it mean? Greater transparency, security of customer funds - he explained. He also argued that in the case of cryptocurrencies, new regulations would not necessarily be needed. He pointed out that the legal framework that applies to securities can be applied. These "will just be implemented more strongly." Senator Elizabeth Warren seems to think so too. It is known that he is working on a law on cryptocurrencies. This would give power over the market to the Securities and Exchange Commission (SEC). According to the media, the document also includes issues regarding taxes, national security in the context of using digital assets and the impact of mining on the environment. Warren also wants to impose new obligations on market entities by means of the act. It is about audits, financial statements and capital requirements similar to those known from the banking market. Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254 and made a new local low at the level of $1,1219. As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,345 WR2 - $1,317 WR1 - $1,305 Weekly Pivot - $1,289 WS1 - $1,277 WS2 - $1,261 WS3 - $1,233 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304187
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Bank Of Spain And Its CBDC Experimental Program | Bitcoin: The Bearish Pressure Is Still High

InstaForex Analysis InstaForex Analysis 09.12.2022 11:13
Crypto Industry News: The Bank of Spain recently revealed its plan to launch its own experimental program with wholesale CBDC. The document released on December 5 announces this digital token program and explains that the institution is seeking cooperation from companies in the industry that will be able to formulate their proposals on this matter. The institution explained that this program is unrelated to the European Union's ongoing research efforts on the digital Euro. The purpose of this new program is to identify the possibility of using such a currency and test the benefits it can bring in the settlement process. Proposals will be accepted until January 31, after which the bank will begin evaluating each proposal for possible selection. Selected proposals will have to be implemented within a period of no more than nine months, starting on April 3, and are expected to end on December 29, 2023. However, the bank will be able to issue an extension depending on several factors, as documented in the selection process. While most of the experiments and trials currently being conducted in the field of CBDC relate to a universal currency, the Bank of Spain is also interested in a wholesale currency aimed at helping to settle financial transactions between banking institutions. Technical Market Outlook: Bitcoin has bounced from the local trend line support located around the level of $16,700, nevertheless, the volatility is very limited and the intraday market movements are narrow. The nearest technical resistance is seen at $17,428 and the next local technical support is seen at $16,020. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,953 WR2 - $17,573 WR1 - $17,420 Weekly Pivot - $17,221 WS1 - $17,068 WS2 - $16,869 WS3 - $16,516 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 10:00 2022-12-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304345
Ethereum Could Drop Deeper As The Bias Remains Bearish

PayPal And The Opportunity To Use Digital Assets For New Customers

InstaForex Analysis InstaForex Analysis 09.12.2022 11:22
Crypto Industry News: PayPal has been focusing heavily on virtual tokens for some time now and is now announcing its entry into one of the European Union countries, namely Luxembourg. Recently, the company revealed that it is expanding its services, taking as its destination a small country in Western Europe, i.e. Luxembourg. According to the electronic payments giant, new customers will be able to buy, sell and, above all, store their digital assets on the company's accounts (platform). Initially, the list of tokens will include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and, interestingly, Bitcoin Cash (BCH). These assets can be stored via a website or a mobile application on smartphones. The aforementioned service will be launched in the tax haven in the next few days. After that, eligible customers will be able to buy cryptocurrencies, starting with a minimum amount of 1 Euro. Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254, made a new local low at the level of $1,1219 and then bounced right back up towards the same trend line to test the breakout from below. As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,345 WR2 - $1,317 WR1 - $1,305 Weekly Pivot - $1,289 WS1 - $1,277 WS2 - $1,261 WS3 - $1,233 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 10:00 2022-12-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304347  
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

A Federal Investigation Is Investigating Sam Bankman-Fried's Involvement In The Improper Transfer Of FTX Funds To The Bahamas

InstaForex Analysis InstaForex Analysis 12.12.2022 10:10
Crypto Industry News: While many crypto scammers have been able to escape punishment, the same is not true of FTX CEO Sam Bankman-Fried (SBF). Parallel to the ongoing FTX fraud investigation, the US Department of Justice (DOJ) is reportedly investigating potential fraud involving SBF moving funds overseas in the days before FTX filed for bankruptcy. A federal investigation is investigating Sam Bankman-Fried's involvement in the improper transfer of FTX funds to the Bahamas when the defunct cryptocurrency exchange filed for bankruptcy on November 11. The anonymous whistleblower further revealed that Department of Justice officials met with court-appointed FTX supervisors to discuss the extent of information needed for further investigation. The Department of Justice also plans to investigate whether the SBF unlawfully transferred FTX funds to Alameda Research. Given Sam Bankman-Fried's strong ties to US politics, the scammer has yet to be charged with any crimes and continues to participate in discussions on Twitter. On December 9, the SBF accused Binance CEO Changpeng "CZ" Zhao of lying and backing out of a deal that could have saved FTX at the last minute. Technical Market Outlook: Despite the low volatility is very limited and the intraday market movements are narrow the bears had managed to break below the local trend line support. The nearest technical resistance is seen at $17,428 and the next local technical support is seen at $16,700. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-12-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304497
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

The Ethereum Cryptocurrency Has Broken Below The Trend Line | Kazakhstan May No Longer Be The Center Of Bitcoin Mining

InstaForex Analysis InstaForex Analysis 12.12.2022 10:15
Crypto Industry News: Kazakhstan may no longer be the center of bitcoin mining, which it was relatively recently. All because of the new mining regulations. The deputies passed the law "On Digital Resources of the Republic of Kazakhstan" and other regulations regarding cryptocurrency mining. Recall that after China banned mining, Kazakhstan became one of the BTC mining centers in the region. All because of cheap electricity. But that may change now. Didar Bekbauov, co-founder of Xive, a cryptocurrency mining platform, notes that a total of five bills passed introduce a new scheme for purchasing electricity for miners, as well as updated licensing and taxation systems. BTC miners will only be able to buy surplus electricity from the public grid. Purchase of electricity through the Kazakh Exchange of the Energy Market Operator may also be carried out by them, but not everyone will be able to make this type of purchase, because electricity will be sold in the form of an auction. Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254, made a new local low at the level of $1,1240 (at the time of writing the analysis). As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2022-12-13 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304499
Ethereum price can remain in the range of $1,220-1300 until inflation, FOMC decision

Ethereum price can remain in the range of $1,220-1300 until inflation, FOMC decision

Geco One Geco One 12.12.2022 15:27
Bitcoin (BTC) The collapse of FTX sent Bitcoin's price crashing below $15,500, which was the lowest level since November 2020. This sale extended the range of the year-long BTC depreciation to over USD 53,500, which is over 77%. More and more, however, indicate that all the negative information related to the collapse of the third largest cryptocurrency exchange in the world has already been priced. It is evidenced, among others, by the collapse of entities related to FTX (including BlockFi) did not contribute to a further sell-off of the cryptocurrency market. Instead, the virtual asset market started to react to macroeconomic events again and returned to a negative correlation with the US dollar. Let us remind you that just after the collapse of the FTX exchange, the correlation between these assets changed from strongly negative (-0.94) to highly positive, reaching the level of 0.84 on November 19, 2022. In turn, we are seeing a return to negative values, resulting in the dollar's fall driving the rise of Bitcoin. It also made the BTC rate increase from the lows of November 21 2022, by almost USD 2,000. Over the last few days, we have observed its stabilization in the region of USD 17,000. It may indicate that investors are patiently awaiting Tuesday's publication of another report on consumer inflation in the United States and Wednesday's monetary decision of the Federal Open Market Committee (FOMC). Given that the previous CPI report in the US contributed to the BTC increase by 10.5%, we could also expect more volatility, although not as extreme this time. It is worth recalling that a month ago, economists expected a drop in the CPI by only 0.2 percentage points to 8.0% from 8.2%, while in the end, it fell by as much as 0.5 percentage points to 7.7%, increasing thus expectations for the Fed pivot, i.e. a change in the attitude of the American central bank to further monetary policy tightening, which we wrote about in detail in our report of November 14, 2022. Inflation is expected to decline by 0.4 percentage points to 7.3%. This means that to cause a similar, positive surprise and lead to a sharp increase in the BTC price, the CPI would have to fall below 7%, which seems unlikely. Read next: An incoming cold spell in the US has seen the cost of US gas surge 27% during the past three trading session while (...) Dutch TTF gas contracts remain below €150| FXMAG.COM Much greater volatility may be caused by the December monetary decision of the Federal Reserve, which will be announced next Wednesday. It is worth recalling here that Fed chairman Jerome Powell recently pointed out that the incoming economic data are encouraging and indicate that the moment has come when it is reasonable to limit the rate hikes, which may take place from December. However, given the probability that after four increases by 75 basis points in a row, the Fed will decide to raise the federal funds rate by only 50 basis points at its December meeting, it is highly probable that investors will attach more importance to the hike itself to any hints on how far the Fed can raise interest rates. If only Chairman Powell confirms the plan of increases by only 50 basis points in the first quarter of 2023, capital could again start to move towards risky markets, i.e. stocks and cryptocurrencies, which would mean that the BTC low is over. While the Fed's monetary decisions were one of the main catalysts driving the cryptocurrency winter observed for over a year, future meetings could already contribute to a certain upward rebound and the beginning of a new bull market. The risk for this scenario is a more hawkish stance of the Federal Reserve and the announcement of a much longer tightening cycle; as a result, the federal funds rate would be raised not to 5% but to 5.25%, or 5.50%. Another factor that cannot be underestimated is the global economy's health. Suppose it turns out that Europe will plunge into a deep recession next year, and the United States experiences only a temporary slowdown. In that case, capital could move from risky markets (stocks and cryptocurrencies) to safe havens (US dollar and bonds). ). This also means that even if Wednesday's monetary decision by the Fed contributes to an upward rebound in the cryptocurrency market, it is unlikely that it will start another crazy bull market, like the one in the second half of 2017 or the second half of 2020 and early 2021. Likely, the rebound will initially be relatively calm. We will have to wait for greater growth dynamics until the middle of next year, when the global economy will deal with the most severe part of the crisis. Financial markets will begin to price in monetary policy easing in advance, that is, interest rate cuts by the Fed, which could happen at the end of next year or at the beginning of 2024. Ethereum (ETH) Ethereum's quotations fell by more than 36% between November 4 and 9, and then, driven by a highly optimistic report on CPI inflation in the US, they rebounded by almost 26%, thus leading to a re-test of previously defeated support (now resistance). However, this increase lasted only one day, and then from November 11, 2022, the ETH rate fell again, returning to the USD 1,100 region, where a demand reaction appeared again on November 22, 2022. The increases observed since then have brought the exchange rate of this cryptocurrency back to the technical resistance at USD 1,300, where some supply pressure has reappeared in recent days. Since then, ETH has been in a horizontal trend between $1,220 support and $1,300 resistance. Read next: Euro Holds Above $1.05, USD/JPY Pair Rose Above 136| FXMAG.COM It seems highly likely that the exchange rate of this cryptocurrency will remain in this range at least until the publication of the CPI inflation report in the US or even until the announcement of the Fed's monetary decision. A sustained break from this consolidation upside would drive a further rally north towards the $1380-1425 zone or even $1650. Litecoin (LTC) Litecoin fell by between November 7 and November 9, 2022, by over 35%. This sell-off stopped only in technical support, around USD 50, where on November 10, 2022, quite an apparent demand pressure appeared. However, due to the subsequent appreciation, the LTC rate increased by over 78%, more than making up for the previous losses. It is worth noting that this increase led to overcoming the technical resistance levels of USD 64.50 and USD 73 and stopped several days ago, forming a consolidation between USD 73 and USD 81. If the market breaks out of this system, we could expect a further increase in the LTC rate towards USD 96.
We predict that nothing radical will happen in the crypto market by the end of the year says Geco.one COO

We predict that nothing radical will happen in the crypto market by the end of the year says Geco.one COO

Jaroslaw Stankiewicz Jaroslaw Stankiewicz 12.12.2022 16:11
We noticed that, recently Bitcoin and Ethereum prices haven't been moving significinalty hinting at an 'ultimate stabilization' after the FTX collapse. Unclear status led us to ask Jaroslaw Stankiewicz, Geco.one COO if current levels are strong enough to withstand December FOMC decision. Have Bitcoin and Ethereum finally found their bottom? Are current levels solid support ready to absorb FOMC impact? Jaroslaw Stankiewicz (COO @ Geco.one): We are currently observing stagnation in the market of the top digital currencies. BTC and ETH rates have been sideways for a month. The market has not yet decided which way it will go in the coming months. On the one hand, we have a lot of turbulence behind us resulting from the problems of several cryptocurrency companies that conducted their activities in a way that aroused much controversy. On the other hand, there is more and more information about the active acquisition of large investment banks taking advantage of emerging opportunities to take over companies related to the crypto industry with 'problems'.We predict that nothing radical will happen in the crypto market by the end of the year. There may be some movements in BTC and ETH rates, but not as drastic as in the recent past.The current valuations of the most important digital currencies already consider the decisions of American financial supervision. It is noteworthy that the number of changes in the value of BTC and ETH since the FED announced its declaration of raising interest rates is as much as 60-70% in the last 12 months. Cryptocurrencies reacted to reduced liquidity by falling, as did other risky assets. Taking into account the scale of the revaluation of the most important digital currencies and the fact that the fight against inflation is starting to bring results, over the next 12 months, the value of BTC and ETH will increase from the current rates unless new events appear in the world and the crypto industry. But the most significant price changes are likely to occur in 2024. Read next: Ethereum price can remain in the range of $1,220-1300 until inflation, FOMC decision | FXMAG.COM
The Bitcoin Fall Will Likely Continue In The Future

Bitcoin Finally Broke Out Of The Sideways Channel

InstaForex Analysis InstaForex Analysis 13.12.2022 10:04
  On the 4-hour chart, bitcoin broke through the important levels of $18,500 and $17,528. Technically, the price has everything to start a decline. Meanwhile, BTC may be trading within a sideways channel for several months. Currently, it lacks strong fundamentals to cancel the bearish trend. Thus, the flagship cryptocurrency is likely to decline in the near term. Meanwhile, crypto experts start to change their views on the future of Bitcoin. CEO of Galaxy Digital Michael Novogratz told Bloomberg that his previous forecast was unlikely to come true. Novogratz predicted that Bitcoin would reach $500,000 in 5 years within a strong bullish trend. However, several crashes in the crypto market wrecked all hopes for such growth and BTC plummeted deeper. Today, the crypto industry may experience a domino effect. After the collapse of FTX, it turns out that many cryptocurrency companies are very closely tied to each other. In other words, one company issues its token, another one buys it, and a third lends it out. Then the first company crashes, the second company has liquidity problems because of the first company's devalued token, and the third company can't get its money back. As a result, many companies have to deal with liquidity problems. It can be solved by taking new loans, issuing bonds, or issuing new tokens. In any case, we are talking about investors' or borrowed funds. However, in order to get a loan, you need to provide all the financial statements, which must be perfect. As the FTX example showed, many people have problems with financial statements, reserves, and the intended use of investor funds. In general, we believe that the bankruptcies that we have already witnessed will not be the last ones. Now, investors' trust in cryptocurrencies has been abused greatly. When the asset starts to grow again, investors will forget about the undermined trust as they seek easy and fast profit. At the moment, more than half of wallets are suffering losses. Many crypto-billionaires and millionaires have already started to see gains. On the 4-hour chart, Bitcoin finally broke out of the sideways channel, in which it was hovering for five months. The important levels of $18,500 and $17,582 have been broken through. We may expect the fall to continue with a target of $12,426 in the medium term. The trend lines and channels are no longer relevant and the downtrend persists. Bitcoin is trying to stay afloat but the fundamental background regularly dips it. Relevance up to 08:00 2022-12-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/329641
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Centralized Lenders (CELs) Start Going Bankrupt | The Bitcoin Bulls Are Back Above The Trend Line Support

Sebastian Seliga Sebastian Seliga 13.12.2022 10:14
Crypto Industry News: BitMEX co-founder Arthur Hayes believes that when it comes to BTC falling, the worst is behind us. The former CEO believes that the three main cohorts of bitcoin sellers - lending companies, miners and speculators - have already capitulated, marking the bottom of the cryptocurrency market cycle. As Hayes explained in a blog post, centralized lenders (CELs) start going bankrupt when they lend money to people who can't pay it back. In addition, depositors often expect their assets to be returned in a short time, but institutions have lent them for a long period. In order to meet the capital calls, the CELs then begin to liquidate the collateral of short-term loans they have made to other players in the industry. This collateral is usually denominated in Bitcoin or Ether, which means both assets are starting to experience a lot of selling pressure. The latter causes a sharp decline in the price of bitcoin in the run-up to the wave of bankruptcies. Both Three Arrows Capital and Alameda Research ran into problems in this cycle and therefore huge amounts of BTC and ETH were traded on centralized and decentralized exchanges. "All that's left are illiquid shitcoins, private stakes in cryptocurrency companies, and locked pre-sale tokens," Hayes wrote. "I'm glad these entities have little or no extra bitcoin to sell," he added. Technical Market Outlook: The Bitcoin bulls are back above the trend line support (orange line) and are approaching the other short-term trend line resistance. (blue line). The nearest technical resistance is seen at $17,428 and the next local technical support is seen at $16,700. There is no indication of the down trend on Bitcoin to terminate or reverse yet, so the next target for bears is seen at the level of $13,563 (2019 high). Recently BTC/USD spiked up over 12% already as bulls were seen moving towards the next technical resistance located at $17,600. The 38% Fibonacci retracement level of the last wave down is seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 09:00 2022-12-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304673
The Ethereum Has Located Just Above The Key Short-Term Technical Support

Arrest Of Sam Bankman-Fried, Former FTX President, In The Bahamas

Sebastian Seliga Sebastian Seliga 13.12.2022 10:26
Crypto Industry News: What almost the entire cryptocurrency community expected has happened. Sam Bankman-Fried was arrested by the authorities in the Bahamas. This is the result of pressure from the US authorities. Information about the arrest of the former CEO of FTX was announced by the Bahamas Attorney General's Office and the country's Minister of Justice, Ryan Pinder. Bankman-Fried ended up in the hands of the Royal Police Force. This was demanded by the US authorities. The allegations against the businessman include securities fraud and money laundering, It is almost certain that ex-CEO FTX will now go to his homeland. US authorities are demanding his extradition. Pinder said the Bahamas would "promptly" consider any such request. A December 12 tweet from the U.S. Attorney's Office for the Southern District of New York said authorities in the Bahamas had arrested Bankman-Fried on a sealed indictment due to be opened "in the morning." A few days earlier, New York prosecutors and FBI agents met with FTX lawyers. It was about discussing what documentation the investigators wanted to obtain for the trial. The U.S. Department of Justice is also "thoroughly" investigating whether FTX improperly transferred hundreds of millions of dollars around the time the company filed for bankruptcy (on November 11). Technical Market Outlook: The Ethereum cryptocurrency has broken below the trend line seen around the level of $1,254, made a new local low at the level of $1,1240 and then got stuck inside a narrow trading range seen between the levels of $1,239 - $1,293. As the momentum is negative on the H4 time frame chart, the short-term outlook remains bearish with a target for bears located at $1,150 (28th November low). Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2022-12-14 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304677
Bank of England Confronts Troubling Inflation Report; Fed Chair Powell's Testimony Echoes Expected Path

The Pound (GBP) Is Relatively Steady After The Release Of The UK Jobs Data

Craig Erlam Craig Erlam 13.12.2022 12:28
Stock markets are tentatively higher in Asia while Europe and the US are poised for a similarly modest start to trade in what is the start of a hectic 72 hours in the markets. For so many weeks now, the December Fed decision has dominated the minds of traders, while sentiment in the markets has been dictated by how small changes in various data points influence the outcome of the meeting. When a meeting or event generates this much hype, it can often disappoint and be something of an anticlimax but I’m not sure that will be the case this time. It’s not so much the decision itself but what accompanies it that will set the stage for next year. For so long the question has been will the Fed hike into a recession. In that time it’s remained convinced that a soft landing can be achieved and the resilience of the economic data has supported that but unfortunately, the same resilience has also supported the case for more hikes and a higher terminal rate. Last month’s CPI release gave investors real hope that in much the same way that inflation’s acceleration higher this year blew expectations out of the water, the path lower may also not be as gradual as feared. Unfortunately, some of the data since then hasn’t been so favourable – most notably the wages component of the jobs report – so a lot is now hanging on today’s release. Another number below forecasts of around 7.3%, year on year, could get the excitement flowing once more. Jobs data keeps pressure on BoE The pound is relatively steady after the release of the UK jobs data that was in line with market expectations. Unemployment rose marginally to 3.7% while wages rose by 6.1%. While the data does indicate some additional slack in the labour market, the wages number – despite falling well short of inflation – will be of concern to the BoE and ensure its foot remains firmly on the brake in the short term. Steady despite FTX developments and Binance concerns Bitcoin continues to trade around $17,000, undeterred by reports of Sam Bankman-Fried’s arrest and possible charges for money laundering against Binance. Withdrawals on the platform highlight the uncertainty and shattered confidence in the space, a desperation not to be caught up in another FTX event. Even when the situation looks very different. But that’s what fear does, especially in a situation where confidence has been so severely damaged, as it has in recent weeks. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Treasure Is A Decentralized NFT Ecosystem For Metaverse Projects

ByBit Analysis ByBit Analysis 13.12.2022 14:48
Daily Top Mover - TreasureDAO (MAGIC)  While the market awaits November’s CPI print on Tuesday and the Federal Reserve’s decision on Wednesday, U.S. equities rebounded overnight in anticipation of lower-than-expected inflation reading. Meanwhile, the broader cryptocurrency is unimpressed, with BTC and Ether clinging onto the $17k and $1.2k support levels, respectively. MAGIC, TreasureDAO’s governance token, however, outperformed the broader market, with a 24-hour 7.9% increase as of the time of writing, on the back of bullish news on exchange listing and the popularity of the ecosystem game, The Beacon.  Treasure is a decentralized NFT ecosystem on Arbitrum that is built specifically for metaverse projects. MAGIC is the sole currency for marketplace transactions and acts as the reserve currency for the entire web of metaverses connected under the Treasure umbrella.  The reasons for the increase in price are mainly threefold. First, listing on major exchanges, including Bybit and Binance, provided an immediate boost to the token price. Exchange listings usually give investors confidence as exchanges go through strenuous due diligence before listing a token. Second, The Beacon, a new blockchain game on Treasure, has gained traction over the week, pushing the ecosystem’s number of weekly active users to a record level. Trove, the native NFT marketplace, and MagicSwap, the native token exchange, have also seen evident growth after The Beacon took off in social media. The surge in trading activities on Trove and MagicSwap sends a tailwind to MAGIC’s token prices as it creates demand for owning the native token. Last but not least, The Beacon’s rise might stem from the investors’ mounting attention on Arbitrum, the leading optimistic rollup that is slated to issue its native token. The anticipation of Arbitrum’s airdrops has stimulated the growth of many projects in the ecosystem. The rise of GMX is one such example.  Check Out the Latest Prices, Charts, and Data for MAGIC/USDT! Talk of the Town On Dec 8, 2022, Bybit officially announced its integration with ApeX Pro, a permissionless and noncustodial DEX, powered by StarkWare's Layer 2 scalability engine, StarkEx. It operates on an order book model and delivers limitless access to the perpetual swaps market. As part of the integration, ApeX Pro launched a 50M $BANA campaign where users can claim rewards from the pool by simply making a deposit on ApeX Pro from Bybit. Find out more here! Check out what else is buzzing in the crypto scene today: USDD depeggs even further. (Link) SushiSwap (SUSHI) CEO said the DEX lost $30 million on incentives to LP in the past year. (Link) Polygon’s NFT market sees a significant increase in adoption. (Link) Source: Bybit Blog | Treasure DAO's Governance Token Surges; ApeX Pro Launches 50M $BANA Campaign
The Bitcoin Price Movement Is In The Bullish Channel

The Bitcoin's Down Trend On The H4, Daily And Weekly Time Frames Continues

Sebastian Seliga Sebastian Seliga 14.12.2022 09:42
Crypto Industry News: Ledger and Merlin, a decentralized finance (DeFi) portfolio tracker, announced a new partnership on Dec. 13 to bring live DeFi performance analytics to Ledger Live users. The application that connects to Ledger cold wallets serves more than 5 million users. The newly integrated DeFi tracker connects more than 1,000 DeFi protocols across ten blockchain networks. Users will have access to performance metrics and profit and loss reports, as well as aggregated gas consumption reports and calculated profits. Technical Market Outlook: The Bitcoin bulls had broken above the 38% Fibonacci retracement level of the last wave down seen at $17,664, so this level might be tested as well (in a form of a spike up etc.). The local high was made at the level of $17,985 and the market is consolidating the recent gains. The next target for bulls is the key short them technical resistance seen at $18,135, so please keep an eye on this level. The level of $17,428 will now act as the key short-term technical support. Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term Relevance up to 09:00 2022-12-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304864
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

The SEC Accuses Bankman-Fried Of Violating The Securities Act

Sebastian Seliga Sebastian Seliga 14.12.2022 09:47
Crypto Industry News: On December 13, the US Securities and Exchange Commission (SEC) filed charges against Sam Bankman-Fried, the founder and former CEO of the FTX cryptocurrency exchange, which declared bankruptcy in early November. The SEC accuses Bankman-Fried of violating the Securities Act, which has been in effect since 1933, and the Securities Exchange Act of 1934. The indictment from the SEC seeks to deprive the SBF of its right to participate in the issue, purchase, offer and sale of any securities except its own personal account. In the filed complaint, the SEC accuses him of developing and implementing a plan to defraud capital investors in FTX Trading Ltd. (FTX). The regulator notes that Bankman-Fried concealed the diversion of FTX client funds to cryptocurrency trading company Alameda Research. What's more, the defendant during this time raised funds from investors in the amount of over $ 1.8 billion. "We claim that Sam Bankman-Fried built a house of cards on the foundation of a scam, telling investors it was one of the most secure buildings in crypto" - SEC chairman Gary Gensler said. Technical Market Outlook: The Ethereum cryptocurrency has broken out to the upside from the consolidation zone and made a new local high at the level of $1,347. This is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through towards $1,400. The level of $1,308 will act as the technical support, so please keep an eye on this level. The momentum is strong and positive on the H4 time frame chart, so the odds for another leg up are high. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-12-15 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/304868
Binance Academy summarise year 2022 featuring The Merge, FTX and more

Binance explains crypto index fund - what is it?

Binance Academy Binance Academy 14.12.2022 23:55
TL;DR A crypto index fund simply takes the idea of a traditional index fund — an investment vehicle designed to track the performance of a designated market index — and replaces the underlying assets with crypto tokens instead of company shares. Introduction Understanding crypto index funds requires familiarity with market indexes. In short, a market index is a way of using data to track and measure the performance of a stock market, or a specified group of companies and their associated stocks. A crypto index fund simply takes the idea of a traditional index fund and replaces the underlying assets with cryptocurrency tokens instead of company shares. Crypto index funds, however, are still a new development, with very few currently available. Learn more on Binance.com What Is a Traditional Index Fund? Before looking at crypto index funds, it’s best to get a foundational understanding of traditional index funds. In the simplest of terms, an index fund is an investment portfolio designed to track a specified basket of underlying assets.  More specifically, a traditional index fund is usually described as a type of mutual fund structured to match the composition and performance of a particular financial market index, such as the S&P 500 or Dow Jones Industrial Average.  But what is a mutual fund? And what is a financial market index?  A mutual fund is a financial instrument for people to pool their money together into a managed fund, which then seeks to make a profit for those involved by investing in assets such as stocks and bonds. A mutual fund’s portfolio is set up to match certain investment objectives established by the fund and its manager.  A market index, meanwhile, is a way of using data to track and measure the performance of a stock market or section of the stock market. The S&P 500, Dow Jones Industrial Average, and FTSE 100 are all examples of market indexes. The S&P 500 tracks the stock performance of 500 large and important publicly traded companies in the US. The Dow Jones Industrial Average tracks the stock performance of 30 especially prominent companies listed in the US. The FTSE 100 tracks the stock performance of the 100 largest companies by market capitalization on the London Stock Exchange.   And so, in the case of an index fund, the investment portfolio is set up to mimic the composition of a specified market index (as designated by the fund). The objective of the fund is simply to match the performance of the market index as a whole. In comparison, a mutual fund is where the portfolio is designed by a fund manager based on their views of what to actively invest in — the goal being to outperform the market.   Advantages and Disadvantages of Traditional Index Funds Index funds are known as a passive investment strategy that provides returns in line with the wider stock market. The goal isn’t to beat market movements but simply to replicate the market index’s movements. Studies show that passive funds tend to perform better than active funds in the long term. As such, one of the main advantages of an index fund is that they’re thought to offer better long-term results compared to actively managed funds. For example, the average annualized return of the S&P 500 from 1957 (when the index was first extended to cover 500 stocks) through to the end of 2021 was 11.88%.  An index fund also diversifies portfolios as it is basically made up of many little slices of every company in the index. This means your investment isn’t reliant on the success of a single company but tracks the performance of the entire index as a whole. In short, an index fund offers broader market exposure.  Additionally, because an index fund simply replicates the composition of the index it is tracking, the make-up of your portfolio rarely changes, which leads to lower operating and trading costs, and lower fees. The downside, however, is that there’s very little flexibility. An actively managed fund can drop poorly performing stocks and, with good management, outperform the wider market. If the index goes down, an index fund will also deliver a loss, whereas an actively managed fund can still deliver profits during a downturn. What Is a Crypto Index Fund? Now that you know what a traditional index fund is, it's very easy to understand what a crypto index fund is. A lot of developments within crypto can be seen as Web3 updates on traditional markets and products and a crypto index fund is no exception. It simply takes the idea and structure of a traditional index fund and replaces the underlying assets with cryptocurrency tokens instead of company shares and bonds. For example: an S&P 500 Index Fund invests the pooled money placed into it in a basket of stocks representing the 500 companies on the S&P 500 market index. A crypto index fund, meanwhile, would invest money placed into it in a basket of different cryptos. Simply put, a crypto index fund is an investment vehicle where you can invest to a fund, which, in turn, invests that money into a specific index of cryptocurrencies. In doing so, the crypto index fund provides access to a diversified portfolio of digital assets without you having to buy each token in the fund individually. How Is a Crypto Index Fund Different? Of course, the main difference between a traditional index fund and a crypto index fund is the type of assets in which they invest.  Another key difference is that crypto markets can experience more volatility than traditional markets. The result is that crypto index funds may experience greater price movements than traditional index funds, so someone investing in a crypto index fund could make more profit but could also experience bigger losses. Aside from potentially higher risks and rewards, the other difference to note between traditional and crypto index funds is the number of products available and basic ease of accessibility for consumers. There are hundreds, if not thousands, of traditional index funds available, tracking all sorts of different market indexes. Crypto index funds, however, are still a relatively new development, with very few currently available to the general public.   Closing Thoughts As crypto continues to develop and mature, it’s likely that we will see more crypto index funds come into existence as investment opportunities for everyday users. These funds are popular in traditional trading and suit a wide range of traders. Crypto continues to reach new places and entice new users, so those who like the idea of trading index funds will likely push for crypto-based ones to become more common. Further Reading Binance Launches the Top 10 Equal-Weighted Index Explore the Binance CMC Cryptocurrency Top 10 Equal-Weighted Index Binance Launches the Auto-Invest Index-Linked Plan Glossary: Index Glossary: Passive Management  
Maker DAO launched Spark Protocol. SushiSwap rolled out its v3 concentrated liquidity pools

Ethereum: Core Developers confirm the approximate date of Shanghai update

Crypto.com Accelerate the... Crypto.com Accelerate the... 15.12.2022 08:25
Ethereum’s Shanghai upgrade tentatively scheduled for Mar 2023. USDD stablecoin lost its peg, drops to US$0.97. Nomad Bridge to relaunch and issue partial reimbursement to users affected by US$190M exploit. Weekly DeFi Index This week’s market cap and volume indices were negative at -2.03% and -18.44, respectively, while volatility index was positive at +144.05. Check the latest prices on Crypto.com/Price     New Project Spotlight Cronos announced the pre-release version of its upcoming v1.0 mainnet upgrade, which will feature key improvements such as a prioritised Mempool, optimised node storage, IBC token transfer memo field, IBC incentivisation, and custom tx indexer. The mainnet timeline and guide will be released soon ahead of the actual upgrade in early 2023. News Highlight Ethereum core developers confirmed that the Shanghai hard fork is tentatively scheduled to be deployed around March 2023 during its All Core Devs Call #151. The Shanghai upgrade is expected to support Beacon Chain withdrawals, allowing stakers to redeem ETH locked in the original staking contract and rewards. ConsenSys will start testing its zkEVM private beta testnet internally next week, allowing developers to bridge assets between the Goerli testnet and zkEVM to test smart contracts and dApps, and to deploy dApps using tools like MetaMask and Infura as if they were using Ethereum directly. External users will be onboarded starting January 2023. Osmosis recently launched a stableswap for the Cosmos ecosystem, claiming to be its own version of the Curve 3Pool. It aims to facilitate stablecoin trades with ‘minimal price impact or fluctuations in value’, and will support USDC and Tether, among other stablecoins. TRON’s stablecoin USDD lost its peg and dropped to US$0.97, its lowest level since June. This creates an imbalance in Curve’s USDD/3CRV liquidity pool, which holds nearly 82.5% in USDD. Justin Sun announced that TRON is deploying more capital to defend USDD and bring back the peg.  Arbitrum-based lending platform Lodestar Finance was exploited in a flash loan attack for $6.5 million. It confirmed that the main vulnerability behind the attack was a plvGLP oracle, with the hacker first inflating the token price before using the inflated tokens as collateral to borrow all available liquidity on Lodestar through bad debt. Lodestar tweeted that it’s open to negotiate a bug bounty with the exploiter. Cross-chain messaging protocol Nomad Bridge announced that it will restart its bridge and partially compensate users impacted by a $190M exploit back in August. To access their recovered funds, users will have to undergo a KYC verification process for the reimbursement through a special NFT. Read next: From the fundamental point of view, these facts may become a game changer, sending the EUR/USD pair to the parity level | FXMAG.COM Recent Research Reports     Alpha Navigator (November 2022): Risk assets were up in November, with the exception of crypto amid the FTX collapse and contagion. Could potentially slower rate hikes provide some Christmas cheer? Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI LAYER 1 LAYER 2 Source: crypto.com
Bitcoin Maintains A Steady Bullish Potential

Big Companies Are Looking For A Cryptocurrency Mining Partner In Latin America

Sebastian Seliga Sebastian Seliga 15.12.2022 09:48
Crypto Industry News: The prospect of Latin America as the future of cryptocurrency mining has been dampened by the news that Paraguay will not cap electricity prices for industry. At the World Digital Mining Summit in Cancun, Mexico last month, Bitmain, the world's largest maker of bitcoin mining platforms and host of the conference, touted Latin America, especially Paraguay and Argentina, as promising countries for mining. About a quarter of the conference was devoted to the topic "Latin America: the Unlimited Potential of Blockchain Land". BitPatagonia from Argentina and Penguin Digital from Paraguay were invited to give presentations while Bitmain's business development director spoke about the region's potential. However, he stipulated that it was important to find a suitable partner for cooperation in Latin America. Bitmain itself is looking for opportunities in the region, as are many other big companies. Technical Market Outlook: The Bitcoin bulls had made a new local high at the level of $18,360 and then corrective cycle has started. The next target for bulls is located at $18,660, but first the correction must be completed. The level of $17,428 will now act as the key short-term technical support. Please notice the market coming off the extremely overbought conditions on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term.   Relevance up to 08:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305051
Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

Authorities In Australia Have Announced Their Intention To Regulate Cryptocurrencies In 2023

Sebastian Seliga Sebastian Seliga 15.12.2022 09:58
Crypto Industry News: The global pressure to regulate cryptocurrencies shows no signs of abating. Authorities in Australia have announced their intention to establish a framework for licensing and regulating crypto providers in 2023. The move to regulate cryptocurrencies is part of the Australian government's broader goal of modernizing the financial system. This is according to a statement issued by Hon Stephen Jones MP, Deputy Treasurer and Finance Minister. In addition to its goal of establishing a framework for regulating cryptocurrencies, the government also plans to "update and strengthen the Australian payment system; strengthen its financial market infrastructure; and establish a regulatory framework for Buy Now, Pay Later. Cryptocurrency regulation has been an Australian focus since the collapse of FTX made headlines, with the Australian government stressing the importance of ensuring greater consumer protection as soon as possible. "These reforms are designed to ensure we have a financial system that works for consumers, businesses and investors - one that benefits the Australian economy and Australian people," Jones said in a statement. The finance minister went on to say that the previous government had "sat back" when it came to keeping up with market developments, especially when it came to new digital products and services. Accelerating regulatory action following recent events will be the goal of the Albanese Prime Minister's government. Technical Market Outlook: The Ethereum cryptocurrency has broken out to the upside from the consolidation zone and made a new local high at the level of $1,350. This is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through towards $1,400.So far the bulls are being rejected from this level, but during the pull-backs the market still trades above 100 SMA. The level of $1,308 will act as the technical support, so please keep an eye on this level. The momentum is strong and positive on the H4 time frame chart, so the odds for another leg up are high. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 08:00 2022-12-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305053
Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

Goldman Sachs points to gold as a better diversifier than Bitcoin

Alex Kuptsikevich Alex Kuptsikevich 15.12.2022 10:27
Market picture Bitcoin updated five-week highs above $18,300 on Wednesday but then fell along with stock indices amid the Fed's intention to raise rates higher and hold them longer than markets had hoped. The market reaction to the Fed brought the price back to levels before the lift-off but did not trigger a sustained decline yet. Bitcoin failed to close the day above its 50-day moving average but continues to hover around that curve. A consolidation above this line could spur additional demand. The cryptocurrency Fear and Greed Index was up 1 point to 31 by Thursday and continues to be in a state of "fear". Despite dropping 1.4% overnight, the crypto market's total capitalisation at 860bn has been near the upper end of its trading range for more than a month. Read next: Given the peculiarities of the US labor market and the high labor mobility, the acceptable unemployment rate is considered to be 5.0%| FXMAG.COM News background According to CoinGesco, the number of cryptocurrencies in the BTC and Ethereum networks reached historic highs following the collapse of FTX. The growth rate of large asset holders has quadrupled compared to the annual average. Goldman Sachs said gold is a better asset diversifier than BTC as it is less volatile. According to Nansen, about $3 billion has been withdrawn from Binance in the last two days, with user activity attributed to a "temporary suspension" of withdrawals in USDC. Read next: From the fundamental point of view, these facts may become a game changer, sending the EUR/USD pair to the parity level | FXMAG.COM In response to the recent media attack, Tether, the issuer of USDT, said it would reduce the collateralised credits in USDT reserves to zero over the next year. There is no consensus among US regulators on cryptocurrencies. The Commodity Futures Trading Commission (CFTC) has called bitcoin, Ethereum and USDT commodities in a lawsuit against FTX CEO Sam Bankman-Fried, who faces up to 115 years in prison.
Binance Academy summarise year 2022 featuring The Merge, FTX and more

What is DeSo? How does it work? Deso - history, price prediction and more

ByBit Analysis ByBit Analysis 16.12.2022 10:13
Social media is becoming a more important part of our everyday lives. While Web 2.0 social media platforms have their benefits, web3 technology can improve scalability, privacy and overall infrastructure. Decentralized Social, also called DeSo, is the first decentralized social media-based blockchain. It’s a web3 social layer that enhances the way we interact with one another. The use of on-chain open data allows multiple decentralized social media applications to quickly share data. The blockchain’s cost-effective technology is also designed to efficiently store data. Use this guide to learn more about DeSo, and how it’s affecting the future of social media. What Is DeSo Crypto? DeSo is a decentralized social network that not only offers users most of the functionality of Web 2.0 social media platforms, but also enhances it by offering users ownership over their own content and the ability to monetize it.  DESO is the native cryptocurrency on the Decentralized Social blockchain. This unique, open-source Layer 1 blockchain is designed to support and scale social media applications that require large amounts of data. History of DeSo Decentralized Social was founded by Nader Al-Naji, a former Google software engineer. Because of his dedication to decentralized social media, he’s been given the nickname “the Facebook Killer.” Development for the Decentralized Social blockchain began in May 2019 under the name BitClout. He also began the DeSo Foundation to support blockchain development and the decentralization of social media. Several early investors were on board with BitClout’s concept. The DeSo platform raised $200 million for development from Andreessen Horowitz (better known as a16z), Coinbase Ventures, Hack VC, Pantera Capital, Sequoia and others. In March 2021, BitClout launched a prototype of a decentralized version of Twitter built on the DeSo platform. Only a few select early investors were given access to the website. These investors were encouraged to invite other users to the platform, which became very active within a few weeks. This unique prototype demonstrated the versatility of the DeSo infrastructure, and showed how decentralized social apps could easily use the technology to scale. DeSo quickly introduced other features in 2021, including social tipping, NFTs, derived keys and DAO Coins. Read next: Keeping your cryptocurrencies safe - paper wallet has some pros, but...| FXMAG.COM In December 2021, DESO became listed on Coinbase, only a few months after the DeSo platform was introduced. This meant that DeSo was among the fastest Layer 1 blockchains to be listed on the exchange, which has its own standards and requirements. In November 2022, Salil Shah joined the DeSo team to help scale the business. His current goal is to expand the web3 capabilities of the decentralized social media platform and further enhance the creator economy. What Does DeSo Social Aim to Achieve? DeSo aims to be the first decentralized blockchain-based social media platform. The DeSo platform will connect people with common interests, and give people more control over their social media interactions. Because the platform is blockchain-based, users will also be able to maintain a sense of privacy and an added layer of security when interacting with one another. As social media continues to grow, privacy is becoming a bigger issue. Major social media platforms have a long history of controlling and selling user data. DeSo allows users to control every aspect of their social graph in a decentralized environment. Not only will this give you access to all your social content on a single platform — it means you truly own your own data. DeSo also makes it easier for social media applications to scale. Web 2.0 social media platforms require a lot of digital storage to support billions of users. Uploading “likes,” pictures and status updates onto a blockchain like Ethereum would cost millions of dollars, as compared to DeSo. According to their website, the cost of storing about 200 characters on-chain is $0.000017, compared to Ethereum’s $78.75. Even more cost-efficient options like Cardano or Avalanche don’t come close to the platform’s storage prices. How Does DeSo Work? DeSo uses an Interplanetary File System, or IPFS, which connects all devices on the network to the same set of files. This data isn’t stored in a single location — as it would be on a typical Web 2.0 social network — making it less prone to hackers. The token-based system allows all users to easily access and contribute to the network. DeSo’s native token, DESO, can be exchanged between users on the network. Users can also earn tokens by posting content, commenting or liking posts, and tagging other users. Content creators can also easily be tipped diamonds, which are directly deposited into the user’s wallet. According to Decentralized Social’s readme file, some users earn thousands of dollars in diamonds each week. All activities on the DeSo platform have a price. Whether you’re voting in a poll or posting a status update, you’ll need to pay tokens. The more active you become on the blockchain, the higher the fee becomes. While at first this may sound like a disadvantage, keep in mind that 25 percent of the fees collected are redistributed to token holders. Decentralized Social is based on the Ethereum blockchain, but it uses a hybrid proof-of-work (PoW) consensus mechanism to operate. This results in far lower energy costs. While the hybrid PoW mechanism is efficient, the DeSo Foundation has announced that a proof-of-stake (PoS) proposal is in the works. Features of DeSo Decentralized Social has a number of features that make it a truly unique platform. Most blockchains are built with decentralized finance (DeFi) applications in mind. Instead, DeSo focuses on running social media applications. Social media has several different requirements from typical DeFi applications, especially when it comes to interaction and storage. Here are just some of the features that set DeSo apart. Hybrid Proof-of-Work Consensus The DeSo platform currently uses a hybrid consensus mechanism to operate. By using a PoW model, the blockchain is able to maintain high levels of security while using considerably less energy than other major blockchains. The development team is consistently working to enhance the model, and plans to move to a PoS protocol in the future. Social Graphs A social graph illustrates the connections between users, groups and organizations on a social network. With decentralized social media, all user data is open. This allows users to store all of their posts and social graphs directly on-chain, which makes it impossible for social platforms and third parties to use your connections against you. Hypersync x DeSo Most blockchains are designed to store light amounts of data for efficiency. While DeFi protocols typically only need a few bytes of storage space, social applications require infinite amounts of data. Hypersync addresses this issue while allowing for enhanced scalability. Blockchain activities are typically synced by downloading blocks. Every transaction contained within the block is downloaded. While this can happen very quickly, it uses large amounts of data to process each transaction. Hypersync reduces the amount of data being used by providing users with a snapshot of block activity. The records are trimmed down, and made smaller and more efficient. Infinite State Applications On-chain storage is a problem for many blockchain networks. When it comes to the amount of storage space required for large social media networks, blockchain technology typically can’t keep up. That’s because most blockchains were built to power finite-state applications, with a set amount of storage requirements. However, social media apps are infinite-state applications that can grow indefinitely. The DeSo platform uses a custom-built complex system of indexes to increase scaling. DeSo Identity Service The DeSo Identity Service is a development tool that allows users to easily store key pairs, or credentials, in applications built on the DeSo platform. Developers don’t need to worry about creating extensive forms or input validations to verify individual identities. Instead, this is seamlessly integrated into the app. Decentralized Social Applications At the time of this writing (December 5, 2022), there are hundreds of Decentralized Social applications accessible on the DeSo platform. With several development tools readily available, new applications are popping up regularly. Among the most popular are: Diamond: This decentralized version of Twitter encourages engagement, while giving content creators a new way to earn. Stori: A decentralized application comparable to TikTok, focusing on video content. NFTz: Much like OpenSea, this decentralized NFT marketplace adds more social and community elements. DeSocialWorld : Connect with users around the world in multiple languages. DAODAO: Take your social fundraising to the next level with this unique web3 platform. Vibehut: Meet new people based on your common interests or video chat with your friends. NameTrade: Trying to find the perfect username? Use this marketplace to buy and sell! How to Earn as a Creator on DeSo The DeSo platform is the perfect place for content creators to earn money. With multiple decentralized social applications, there are dozens of ways creators can get paid for their work so they can start earning additional income. With web3 and blockchain technology, it’s easier for creators to maintain ownership over your content and connect with your followers. Social Tokens Every profile on the DeSo platform has its own unique social token that’s assigned to it. Also known as creator coins, social tokens are unique assets that can help draw users to your content. When creator coins are sold, the creator receives a portion known as the founder’s reward, or FR for short. While the default FR for social tokens is 100 percent, you can lower the amount later to entice investors. Utilizing creator coins can be a great way to raise extra funds for a project. You can find unique ways to promote your social tokens online.  DeSo NFTs NFTs are continuing to grow in popularity. Using the NFTz application, artists can sell their work to the highest bidder, much as they would on OpenSea. Unlike other blockchains, creating a new NFT on DeSo costs very little and uses a gasless minting process. The Social Zone also allows you to easily coordinate NFT projects and build your fan base. Social Tipping Social tipping allows fans or viewers on DeSO to easily donate diamonds to their favorite creators. Rather than “liking” content, users can send content creators real money with the click of a button. Social tipping encourages content creators to develop regular content on the DeSo platform, while extra incentive also encourages users to create engaging content of value. Because of the way the DeSo platform operates, there are several opportunities to collect tips. Benefits of DeSo It can be a difficult choice to move to a new platform if you already have an existing following. It takes time and effort to fully learn all of the features of a new social application. While Decentralized Social may seem complex, the DeSo platform is easy to navigate, and has a low learning curve. There are also several unique benefits to using the DeSo platform that you won’t find on a typical Web 2.0 social platform. Ownership Over Your Content Did you know that several social media platforms can use your content without your permission after you post it? While most popular platforms allow you to maintain your intellectual property, you may not have full control over who sees it. With the DeSo platform, you’re always in control over your content. Blockchain technology also allows you to easily move your content from one social application to another. Monetize Your Content As mentioned above, monetization is much easier with the DeSo platform. There are several methods content creators can use to generate extra revenue. The easiest way to monetize is through diamonds, but you can also take advantage of the NFT marketplace or social tokens. Whether you want to monetize by encouraging others to buy your creator coins, or through social tipping, all you need to do is start posting engaging content and build a community to monetize on DeSo. The more people who interact with your content, the greater your potential to earn. Easy-to-Build Apps Creating new applications on the DeSo platform is fairly straightforward, and a lot of resources are available. The DeSo Developer Hub is a great place to start researching what you’ll need to complete your project. You’ll also be able to use programming languages you may already be familiar with, such as JavaScript or Python. Because the DeSo platform is open-source, the possibilities for application development and the use of the web3 social layer are endless. Enhanced Privacy Blockchain technology makes it easier to keep your social media activities private. Instead of private companies holding your data, it’s safely stored on the DeSo platform. It can’t be accessed without your permission, much like when you’re using blockchains for financial applications. Reduced Spam and Fake News While the content you see on the network isn’t regulated, it does use a reputation system. This decentralized system can be used to rate the accuracy of the content you see. Because users must pay for all activities, they’re less likely to see people with multiple accounts. The lack of an algorithm also allows users to tailor the content they’re shown with more precision. DeSo Road Map Decentralized Social has achieved a lot in the past two years, especially when you consider that the DeSo platform is unique with its own set of challenges. In 2022 alone, Decentralized Social launched Hypersync, DeSo.js and DAODAO. The DeSo Foundation released a detailed road map that outlines the achievements DeSo hopes to make over the next few months. While the document reminds us that this road map is a draft, it helps to show some of the many projects the development team is working on. Phase 1 — Social Layer of Web3 Q3 2022 marked the start of the “Social Layer of Web3,” also known as Phase One. During this time, MetaMask was integrated, enabling the ecosystem to be utilized cross-chain. This also facilitated easy integration among Ethereum-focused platforms needing a decentralized social layer for communication. The quarter also saw the launch of the DesoDollar stablecoin, MegaSwap, and the ability to accept any funds, including USDC, on DAODAO. Toward the end of the year, users will be introduced to on-chain end-to-end encrypted group chats. Phase 2 — The Internet of DeSo During Q4 2022, there will be a transition into Phase Two, also known as the “Internet of DeSo.” This phase will focus on recruiting new creators and increasing global DESO liquidity. There will be a heavy focus on long-form content, and encouraging creators to post blogs. This in turn will help creators monetize their content and, ideally, make DeSo a top way to share long-form thoughts. Associations, a “verification paradigm” expected in Q4 2022, will allow app developers and users to easily establish relationships between users and their content, which will help creators build authority and trust among their followers. Storage capabilities may also get an upgrade in Q4 2022 with the launch of DeSo Vaults, a way to store content directly on the blockchain. Users will be able to create and render static html pages, essentially creating a fully-decentralized version of the internet. Phase 3 — Revolution The last phase, “Revolution,” begins with the development of new content for deso.com and the integration with a major NFT platform. Moving into 2023, users can expect to see more cross-chain social integrations appearing on top blockchains. There will also be major upgrades to creator coins. One of the more ambitious items on the road map is Infinite PoS, scheduled for launch in Q1 2023. Short for “Infinite Proof of Stake” it will likely be published before Q4 2022, leading the way for DeSo 2.0. While an additional phase, known as “DeSo Glass,” has been announced for Q2 2023, the road map doesn’t currently contain any details. DESO Tokenomics DESO has varied greatly in price since its initial launch in June 2021. At the time of its release, the token was valued at just over $178. As of Dec. 5, 2022, the token is valued at over $9. While this is a big jump downward, the token has had two years of big ups and downs. Listing the token on Coinbase in December 2021 caused a temporary spike in price. This sharp increase led its price to a high of $438.10, an impressive 151 percent price jump. While the blockchain is open-source, a large amount of funds are currently reserved for future development. Additional investments in the blockchain could result in future price fluctuation and an increased number of individual users. DESO Price Prediction Decentralized Social has a wide range of price predictions. While the chart indicates a steady downtrend, some price predictions are less bearish. CoinCodex predicts a bit of a jump past $10 in 2023. Their prediction is based on tech industry growth. Should existing social media platforms, such as Facebook and Google, continue to grow, prices could reach as high as $17.90 in 2023. Is DESO a Good Investment? Decentralized Social still has a lot of potential, despite its downward trend in pricing. Deciding whether or not DESO is a good investment will depend on several factors, the biggest of which is determining how major social media networks adapt and incorporate web3 technology. Another factor to consider is how much future development will be going into Decentralized Social. If demand for decentralized social media rises, DeSo could become a more viable investment. Judging from recent destabilization on platforms such as Twitter, it’s worth keeping an eye on DeSo. The Future of DeSo The DeSo platform is incredibly ambitious, and has a fast-paced road map with several items in development throughout the remainder of 2022 and early 2023. Integrations with other blockchain technology could make the blockchain more widely used as the year progresses. For example, the MetaMask integration allows users to interact with a variety of social applications cross-chain.  Because the platform is developer-friendly and open-source, we’ll likely continue to see new applications in development for years to come. The $50 million Octane Fund, announced in October 2021, is still fueling the development of the ecosystem. Combined with the development team’s strong drive, DeSo technology could easily shape the way people use social media. Closing Thoughts Decentralized Social takes advantage of innovative web3 technology to apply the advantages of using a blockchain with social media. While the future may still be a bit unclear for investors, the Decentralized Social platform boasts several advantages, including low storage costs, enhanced privacy and a variety of decentralized social applications. It’s going to be exciting to see how this growing technology will shape the future of social media. Source: DeSo Crypto: An L1 Blockchain for the Decentralized Community | Bybit Learn
DPX Token Registered A 24-Hour Return Of 11.11%

Medieval Empires- Play-And-Own Blockchain-Based Game

ByBit Analysis ByBit Analysis 16.12.2022 12:03
With the lucrative opportunities GameFi provides, it’s no wonder that many gamers and investors alike are seeking GameFi projects with the most growth potential to invest in. If you’re one of them, look no further than Medieval Empires, the latest GameFi project to hit the market. Medieval Empires boasts an immersive storyline as players get to forge their own alliances and reshape history in the medieval period.  Keen to learn more about how you can play and own with Medieval Empires? Read on, as we include everything you need to know about this project.  What Is Medieval Empires? Medieval Empires is a play-and-own blockchain-based game that gives players the opportunity to build their empire and lead their forces to become the most powerful empire in the medieval world. Set in the 13th century, players start off as medieval war heroes leading a small village. As you build your town, raise your own army and train new heroes, your land is subject to various invasions that you have to fend off. You’ll have to be wary as warlords, barbarians and factions fight for control over the region. Through strategic gameplay, players can form alliances and conquer lands and purchase limited Land NFTs to become landlords or clan leaders. As a player, your daily tasks are to battle invaders, claim resources, produce items including NFTs, trade, complete daily missions and upgrade low-level buildings. Some of the daily missions may include killing five invaders, sending an army to investigate an issue, or guided quests. The ultimate goal of the game is to eventually run a successful clan, which constitutes a high income, a large number of loyal followers, playing a significant role in related events and more. When you’re able to dominate leaderboards, you’ll gain in-game prestige, which will grant you corresponding in-game benefits. At the moment, there are a total of two factions to play in: Turkic Tribes and English Crusaders. More factions, based on the Mongols, Byzantines and Mamluks, will be added as the game progresses. What sets Medieval Empires apart from other games is that to make things exciting, it’s partnered with real-world renowned actors as the lead characters of the game. For example, internationally acclaimed actor Engin Altan Düzyatan is the leader of the Turkic Tribes faction. Imagine being able to play under the leadership of your favorite celebrity! Players can look forward to more famous historic names that will be added in the near future, such as Edward Longshanks, the leader of the English Crusaders faction.  Here are some of the game assets you can expect when you play the game. Land NFTs Medieval Empires’ Land NFT game assets are an essential part of the gameplay, with different types of land available.  The first is the starting area, where all players start out. This land doesn’t require players to pay any fee to begin playing. However, it’s important to note that rewards earned in this area will have the highest amount of taxes. Furthermore, there’s a limit as to how much a player can progress on this land. If you’re looking to earn more rewards, you’ll probably want to explore purchased land.  Purchased land refers to land owned by players who have purchased Land NFTs from the NFT marketplace. These NFTs are categorized into five different quality tiers, each boasting a corresponding array of benefits. Players who own Land NFTs can take advantage of the benefits to earn income by renting out the slots on their land. For instance, they can choose how much tax they’d like to charge players for using their land. The land can also be used for building and crafting resources needed for battles. Keep in mind that these Land NFTs only offer PvE gameplay, which means that other players can’t fight the landowners for their Land NFTs. If you’re intending to fight other players for land, you can do so in PvP events called Historic Battles. These events usually take place over a few weeks, and players within a faction can choose to battle others for this piece of Provisional Land. Should the conquest be successful at the end of the event, the land will be converted to a PvE Permanent Land and will belong to the winner’s faction. In the event that all players fail to conquer the province, the Provisional Land will be closed. Hero NFT In order to build up your army, you first need a hero as its leader. These heroes take time and resources to train, and they have different characteristics, names and stats, all of which are minted on your behalf. However, if you want to unlock your hero’s full potential and enjoy all of its benefits as an NFT, you’ll need to mint this hero yourself and pay the gas fee. Legacy NFT Each hero has a varying number of durability units. With each fight, one durability unit is lost. Once the hero depletes all available durability units, you’ll receive a Legacy NFT in return. This Legacy NFT is meant to be a reward for the XP you gained from using the hero in gameplay.  Lineage NFT Lineage NFTs can be minted and bound to Hero NFTs to add lineage or specific characteristics to your hero. As the hero’s XP increases, you’ll be able to bind more Lineage NFTs to it. Events & Rewards Players can look forward to a myriad of events available to earn special rewards. All of these events are battle-related and categorized into three types: Enemy, grouping and goal.  Faction events require all provinces to participate. These are usually held in celebration of occasions, such as National Day or Easter. Tasks to complete include locating objects around the world map and collecting them, fighting special invaders, and crafting a particular item. Global events are held infrequently and are usually tied to occasions such as New Year or International Moon Day. Every player can earn rewards, which are generally divided into personal, clan and faction rewards. Once you reach certain milestones in the game, you’ll be awarded personal rewards. Clan rewards are given out when there are special giveaways. Lastly, faction rewards sometimes involve the permanent unlocking of a new province, or players receiving a temporary boost in production. Physical & Digital NFTs Other than Land NFTs, players can also look forward to purchasing and trading digital NFTs in Medieval Empires, some of which come with a physical item. Once acquired, users will receive the unique physical item in their mailboxes. Some of these items include exclusive collector merchandise, and tickets that grant you access to special online and offline events. Community Battles Community battles are often held seasonally throughout the year for players to showcase their strategic skills, and to give them an opportunity to acquire achievement trophies, glory and crypto rewards. What Are MEE Tokens? MEE are the primary platform tokens of Medieval Empires. You can purchase them through Bybit. As the game’s primary utility token, MEE can be used in the following areas: Voting: Players can participate in voting on upcoming Medieval Empires game features  Airdrops: Gain exclusive access to airdrops Marketplace Trading: Purchase and sell NFTs, item drops, units and resources on the NFT marketplace MEE Tokenomics Now that we’ve taken a look at the foundations of Medieval Empires, let’s explore MEE’s overall tokenomics. In total, there’s a maximum supply of 3 billion MEE tokens as follows:  29% (870 million) allocated to the treasury (developer, operations, marketing & airdrops)  20% (600 million) are set aside for the play-and-own aspect of the game  15% (450 million) to the team  14% (420 million) for the seed round 7% (210 million) for private sale  5% (150 million) to maintain liquidity 5% (150 million) to advisors 4% (120 million) for public sale 1% (30 million) to social projects Can’t wait to be a part of the MEE family and start earning and owning as you conquer lands? Start investing today at Bybit Launchpad, where 30 million MEE tokens can be earned through either committing BitDAO (BIT) tokens or participating in the USDT lottery after signing up on Bybit. Are MEE Tokens a Good Investment? There’s no denying that interest in GameFi projects has increased exponentially ever since the concept was first introduced. In fact, according to Footprint Analytics, there are now 2,169 GameFi projects available. Understandably, it can be overwhelming for users to choose the best project to invest in. What sets Medieval Empires apart from other projects is its compelling gameplay, use of real-world celebrities, and various income streams.  The team behind Medieval Empires consists of individuals who have extensive experience and knowledge in both IT and gaming. Investors will be glad to know that Medieval Empires is backed by Carl Runefelt, better known in the crypto community as The Moon. Other notable advisors to the project include Scott McCarthy, former CMO at Illuvium, as well as Justin Edwards, former COO of Decentraland. Not only can you be assured that Medieval Empires will offer a unique play-to-own experience, a stimulating storyline and a healthy economic model that will keep you excited for more, but it will also be a great investment. The Bottom Line In conclusion, Medieval Empires’ MEE tokens appear to be a solid long-term addition to any crypto portfolio. One look at its road map shows that the development team is committed to providing players a fully immersive game ecosystem that tells an exciting story of the late 13th century through the use of various game assets and features.  We believe that Medieval Empires is certainly the next big play-own-earn game to pay attention to. While it will only be available to play in Q2 of 2023, now is the perfect time for gamers and investors to get in on the fun early as the team finishes up with its final developments before they flesh out the game.  Fare thee well! Source: Medieval Empires: Leave Your Mark on This Blockchain Kingdom | Bybit Learn
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

IRA Products Is Growing Fast, Offering Diversification And Growth Opportunities

ByBit Analysis ByBit Analysis 16.12.2022 12:07
Cryptocurrency as an asset class is finding more ways into traditional investment schemes. It’s now possible to hold crypto under a variety of individual retirement accounts (IRAs). Interest in this option has grown considerably recently when the largest retirement accounts provider, Fidelity Investments, announced plans to offer crypto within its 401(k) accounts. The move is widely viewed as a precursor to making crypto available under the company’s IRAs as well. Boasting significant taxation benefits — such as no capital gains tax, and tax-deductible contributions — crypto IRAs are a new hidden gem for retirement-oriented investors. What Is a Crypto IRA? IRAs were first introduced by the Employee Retirement Income Security Act of 1974 (ERISA). They’ve long been the staple of retirement investment for the self-employed, freelancers, small business owners or, in fact, anyone who wants to actively manage their own retirement funds. These accounts differ from the employer-sponsored 401(k), and are based on your own individual contributions. IRAs allow you to invest in a variety of asset classes, typically stocks, bonds, mutual funds and index funds, but also less conventional alternative investments. Cryptocurrency is also a legitimate asset to own under an IRA. However, traditional IRA providers have long been reluctant to offer crypto or any other high-risk asset class to these accounts. Nevertheless, as often happens, the niche hasn’t remained vacant for too long. Over the last few years, several crypto IRA providers have emerged in the market. These financial companies offer cryptocurrencies within their IRA products. Among the most popular crypto IRA providers are Bitcoin IRA™, iTrustCapital, Alto Solutions and BitIRA™. While the niche of crypto IRA providers is still relatively small, it’s growing fast. Fidelity’s plan to offer crypto in its 401(k) products is also an indicator of traditional IRA providers’ interest in this area. IRAs have typically been used for the tax advantages they offer. Depending on the type of IRA (of which there are several), your tax benefits will work differently. Out of the variety of IRA types, the two most common ones are standard IRAs, also referred to as traditional IRAs (or simply IRAs), and Roth IRAs. Standard IRAs — IRAs, hereafter — let you make tax-deductible contributions. However, your withdrawals from such an IRA in retirement are not tax-deductible. In contrast, contributions to a Roth IRA are not tax-deductible, but withdrawals you make in retirement are. The key difference between IRAs and Roth IRAs Source: AllianceWealthAdvisors.com The majority of crypto IRA providers offer both IRAs and Roth IRAs. Some providers only have crypto available as an eligible asset class within their retirement account products, while others offer a mix of crypto and various assets. 7 Best Crypto IRAs The market of crypto IRAs is growing by the day, with an increasingly diverse choice of providers and products available to retirement-focused investors. Among this variety, we’ve analyzed and selected the best IRA providers based on six key factors — Bitcoin-specific offers, suitability for beginners, coin variety, suitability for self-directed investments, fees and security — as well as the best overall IRA provider. 1. Best Overall — Jointly Bitcoin IRA and iTrustCapital We decided to pick two providers as joint winners for our best overall IRA — Bitcoin IRA and iTrustCapital. In the individual categories below, we’ll take a closer look at these two companies. Bitcoin IRA is our pick in the best Bitcoin-specific investment category, while iTrustCapital is the winner of the low fees category. We’ve chosen Bitcoin IRA as one of the two best overall IRAs because cryptocurrency investing is still heavily dominated by Bitcoin (BTC). This is particularly relevant for retirement investing, since the majority of altcoins are considered more volatile than the world’s first and largest crypto. Thus, it’s not surprising that our best provider for Bitcoin-specific IRAs has been (jointly) crowned as the best overall as well. As for iTrustCapital, the company’s leadership in the fees category, low barriers to entry for investing and a diversity of assets on offer are its key strengths. These factors help iTrustCapital make crypto IRAs as affordable as possible for diverse segments of investors, something that — in our view — definitely warrants the best overall IRA award. 2. Best For Bitcoin Investors — Bitcoin IRA Bitcoin IRA is our pick for the best Bitcoin-specific IRA. As a large and well-established provider, Bitcoin IRA is capable of offering a 24/7 trading platform, easy setup, and custody insurance of up to $700 million. You can roll over your existing IRAs, and even 401(k) into an IRA product offered by the company. The company’s main IRA product requires a minimum investment of $3,000. Bitcoin IRA also features a very secure storage system. Your funds are held in cold storage, and are protected by military-grade security solutions. Source: Bitcoinira.com If you want to invest in Bitcoin via an IRA product, Bitcoin IRA is the optimal choice due to its balanced combination of key benefits — the platform’s size and established nature, convenient setup, high insurance limits, numerous rollover options, and great security. 3. Best for Beginning Crypto Investors — BlockMint Investing in crypto, especially via IRAs, is an area that is still not intimately familiar to many people. This unfamiliarity creates uncertainty and a lack of understanding about the options and strategies for crypto IRA investments. That’s why suitability for beginners is a key category we’ve considered in our crypto IRA review. Among the plethora of crypto IRA providers, California-based BlockMint stands out for its great service and tools available to beginning investors. When you open an IRA at BlockMint, you’re guided in the process by your personal BlockMint agent, who is a qualified consultant. This is an outstanding feature for novice crypto investors to help them select the most suitable product, crypto assets and investment strategy. Past the account opening stage, BlockMint continues to guide you on the platform via a multi-channel support system that includes email, phone and online chat. This provides an opportunity for less experienced investors to adjust their portfolios and strategies regularly, something that many beginners, particularly in the retirement investment niche, often fail to do. Besides comprehensive support for novice investors, BlockMint boasts other advantages: Insurance coverage up to $600 million and military-grade security for funds’ storage. 4. Best Variety of Cryptos Supported — Regal Assets Though Bitcoin is still the king of the cryptocurrency world, many investors don’t want to limit themselves to this crypto when devising their investment strategies. Investing in multiple cryptos is becoming increasingly accepted, with some investors actively looking for products with as wide a choice of coins as possible. When it comes to variety, Regal Assets, a provider of crypto and precious metal investment products, reigns supreme. Regal Assets offers IRAs with which you can choose virtually any crypto to invest in. There are over 20 popular cryptocurrencies, such as Bitcoin, Ether (ETH), Cardano (ADA), Litecoin (LTC), Ripple (XRP), and other high-cap cryptos listed by Regal Assets as available within its IRAs. Additionally, the company offers the option to add a custom crypto, per your preference — truly a dream for investors keen on holding a diverse bucket of crypto coins. This provider also offers investment in precious metals — gold, silver, platinum and palladium. You can diversify your IRA investment with Regal Assets by combining cryptocurrencies with these traditional assets. This could be a great option for many retirement-focused portfolios, as precious metals are widely regarded as a “safety net” and a low-risk investment, while crypto is a high-risk/high-growth asset type. 5. Best For Self-Directed Investments — Equity Trust The majority of IRAs and Roth IRAs offered by traditional retirement investment providers place restrictions on what types of assets you can hold within these products. Typically, IRAs and Roth IRAs invest in cash and cash equivalents, stocks, bonds, mutual funds, index funds and exchange-traded funds (ETFs). These asset classes are considered to be less risky, and thus more suitable for a retirement portfolio. However, a special class of IRAs and Roth IRAs — Self-Directed IRAs (SDIRAs) — exists to facilitate investment in a wider assortment of asset classes. An SDIRA may be used to hold alternative investments, such as real estate, private equity, commodities, and even mineral lease rights. Among crypto IRA providers, our pick for the self-directed investments category is Equity Trust®, a well-known specialist in the niche of alternative investment products. Equity Trust offers investments in cryptocurrency, as well as in a range of other alternative investment assets which include (but aren’t limited to) real estate, private equity and private lending. Source: Trustetc.com The choice of asset classes offered by Equity Trust is probably more diverse than at any other crypto IRA provider. By talking to the company’s consultants, you may further customize your IRA portfolio and inquire about additional, even more exotic, asset types. SDIRAs often give you complete freedom with regard to your portfolio’s composition. The only asset types explicitly prohibited in an SDIRA are life insurance, collectibles and S Corporation stocks. Equity Trust offers both IRAs and Roth IRAs for self-directed investments. Companies may also open 401(k) self-directed accounts for their employees. 6. Best For Low Fees — iTrustCapital Lower fees and other affordability factors — e.g., low minimum investment requirements — are among the most important decision variables for many retirement-focused investors. In this critical category, our choice for the best crypto IRA is iTrustCapital, one of the leading crypto IRA providers in the market. iTrustCapital charges no monthly fee on individual accounts, which include IRAs and Roth IRAs offered by the company. Very few providers in this market offer zero–account fee IRAs. The company also has some of the lowest minimum investment requirements: You can open a crypto IRA at iTrustCapital with only $1,000. The affordability of the platform is a great opportunity for budget-conscious investors to own a crypto IRA product. iTrustCapital offers investment in around 60 cryptocurrencies, as well as two precious metals, gold and silver. You may combine crypto and precious metals in your IRA product for further diversification of your retirement portfolio. The transaction fee for purchasing cryptocurrency under an IRA is 1%, also among the lowest in the industry. Precious metal purchase fees are $50/oz. for gold and $2.50/oz. for silver. Source: iTrustCapital.com iTrustCapital doesn’t compromise on the quality of its offerings, either. The company’s IRAs feature insurance coverage of up to $320 million, secure cold storage, and a 24/7 trading platform. 7. Best For Security — BitIRA Our last — though definitely not the least critical — category is security. When it comes to your retirement funds, you don’t want any compromises, do you? So, which crypto IRA provider is the best from a security point of view? The major providers all boast cold storage of funds and generous insurance coverage limits. However, in our view, one provider, BitIRA®, goes the extra mile to achieve the best security for your crypto IRA funds. BitIRA has all the bells and whistles you may find in a leading crypto IRA provider, such as insurance coverage (up to $100 million) and cold storage of funds. Additionally, BitIRA has implemented industry-leading security measures to maximally protect your investment. First, the company’s insurance coverage provides “end-to-end protection.” This means that your investment is fully covered against theft, hacking, physical loss, or any other form of damage or destruction at the stages of purchase, storage and movement of your funds. This end-to-end coverage is quite different from standard insurance, which normally protects your funds only at the stage of purchase. Second, BitIRA uses multiple layers of encryption and multi-factor authentication to protect your IRA investment. Malicious actors who may try to hack your funds will find it incredibly hard to penetrate the company’s multi-layer security system. Finally, BitIRA’s process of creating a digital IRA for a customer must be compliant with Level 2 Cryptocurrency Security Standards (CCSS), a stringent security standard created by a leading crypto security certification body — the CryptoCurrency Certification Consortium (C4). With all these measures in place, you can be certain that your funds held in an IRA product by BitIRA are guarded 24/7 by some of the best protection mechanisms in the industry. How Does a Crypto IRA Work? Crypto IRAs allow you to invest in cryptocurrencies or to mix cryptocurrency and other asset classes under the same account. Some providers focus only on cryptocurrency investments. A number of others — for instance, iTrustCapital, Equity Trust and Regal Assets — have a range of different assets on offer in addition to cryptocurrency. Providers with different asset classes are a great choice for retirement portfolio diversification. However, if your crypto IRA provider exclusively offers cryptocurrency investments, you can still diversify your IRA holdings. A common way to do so is to open a crypto-based IRA at a specialist provider, and another IRA at a traditional provider that lets you invest in stocks, bonds and other conventional financial assets. The U.S. Internal Revenue Service (IRS) doesn’t place any restrictions on the number of IRAs you’re allowed to open or hold. As such, you may open two (or even more) accounts in order to diversify your investments. When thinking about the multi-account strategy, consider two key factors: Holding multiple accounts may result in an increase in the overall fees paid. Most IRA providers, whether crypto-focused or traditional, charge monthly or yearly account-keeping fees. These fees are normally flat and aren’t tied to your transaction activity. Thus, holding multiple IRAs will result in an increase in your overall IRA expenses. Depending on the fees involved and your IRA portfolio’s composition, these additional expenses might be offset by the benefits of asset diversification. The IRS applies a yearly limit on the amount you may contribute to your IRA or Roth IRA. This limit applies across all such accounts in your name, not per one account. For 2022, the limit is $6,000 (rising to $6,500 from 2023) for those aged under 50 and $7,000 (rising to $7,500 from 2023) for those aged 50 or more. As of late 2022, crypto IRA providers offer only fungible cryptocurrencies as an available investment option. NFTs aren’t on the menu! It is possible that with the further development of the crypto IRA industry, NFTs might become a legitimate form of investment under retirement accounts. As it stands now, the use of NFTs in IRAs is a gray area. Many industry professionals doubt that NFTs will be allowed in IRAs, since the IRS specifically prohibits investment in collectibles under these accounts. While there’s no explicit ruling on NFTs yet, they are likely to be regarded as “digital collectibles” by the IRS, making their use in IRAs problematic. Pros and Cons of Crypto IRAs Crypto IRAs offer some significant advantages to retirement-focused investors. The key pros for these investment accounts include: Tax benefits. Whether we’re talking about IRAs or Roth IRAs, there are significant tax benefits available to investors. These accounts are a great way to put some of your crypto funds under the preferential tax treatment endorsed by the IRS. Recall that with IRAs, your contributions are tax-deductible, while your withdrawals in retirement are still taxed. With Roth IRAs, it works the opposite way — your contributions aren’t tax-deductible, but your withdrawals are. Retirement portfolio diversification. By allocating some of your funds to crypto, you diversify your overall IRA portfolio. This helps you reduce your reliance on stocks and bonds, two asset forms that heavily dominate many retirement portfolios. Higher growth potential for your retirement funds. Cryptocurrency is regarded as a high-risk- but also high-growth-potential asset class. Having it in your IRA portfolio is a great way to supercharge the growth of your retirement funds. Crypto IRAs also have some cons or risks associated with them that you’ll need to consider before opening a crypto-focused retirement account. These include: The volatility of crypto. Cryptocurrency is a volatile asset class. While it can deliver gargantuan returns unmatched by plain old stocks and bonds, it’s also a high-risk investment. Low yearly contribution limits. IRAs and Roth IRAs have a fairly modest annual contribution limit. The $6,000 ($7,000 for those aged over 50) limit is unlikely to make crypto IRAs a game changer in your retirement investment strategy. A relatively limited choice of providers. Crypto IRAs are a new area in the retirement investment niche. As such, the choice of providers and products is still not as diverse as with traditional IRA products. Closing Thoughts Crypto IRAs are no longer an exotic or unheard-of choice for retirement investing. This new class of IRA products is growing fast, offering diversification and growth opportunities that weren’t available to retirement-conscious investors just a few years ago. The IRAs we’ve included in this article all represent a solid alternative for your crypto investment. Your final IRA choice should be determined by which of the six key factors we’ve covered here that you deem to be the most critical.   Source: 7 Best Crypto IRA Companies for Diversifying Your Retirement Plan | Bybit Learn
Kishu Inu, A Meme Coin, Promotes Growth And Development Through Its Transparency

Kishu Inu, A Meme Coin, Promotes Growth And Development Through Its Transparency

ByBit Analysis ByBit Analysis 16.12.2022 12:15
Meme coins like Dogecoin, Shiba Inu and others have been popular in the crypto world for several years now. These digital currencies’ price fluctuations have proved to be tremendously lucrative for some investors and speculators. Kishu Inu is a relative newcomer to this space, but its native token has already made its way into thousands of investors’ crypto wallets. Let’s take a thorough look at this crypto token. What Is Kishu Inu? Kishu Inu is a dog-themed meme coin with a decentralized exchange (DEX), reward mechanisms and NFTs. Its core mission is to raise awareness about cryptocurrencies to help them become more mainstream. The Kishu Inu ecosystem consists of a liquidity pool established on Uniswap, an NFT marketplace and a DEX. Via this platform, KISHU crypto tokens can be bought, sold and traded. They can also be earned through a staking mechanism. In addition, KISHU holders can create, buy, sell and exchange NFTs through its ecosystem. Its design is modeled closely after that of other popular meme coins, such as Dogecoin, Baby Doge Coin, Kabosu and others. However, Kishu Inu stands apart from other meme coins in several key areas, and was designed to accomplish a specific mission. Uniquely, its mascot is the Kishu dog breed. In addition, it distributes 2% of every transaction to its token holders. While this fee structure is unique to Kishu Inu, some other meme coins have a relatively similar mechanism. This strategy encourages users to hold KISHU tokens. History of Kishu Inu Kishu Inu launched in 2021 with a big splash. The meme coin’s launch was announced on a Times Square billboard. Its founders and developers have remained anonymous, but there are hints about their identities on Kishu Inu’s social media accounts. After the meme coin’s first month, more than 100,000 token holders were active, with its market cap at that time exceeding $2 billion. Comparatively, Kishu Inu is one of the smaller crypto tokens today. However, it’s already developed solid partnerships. For example, token holders can make travel plans at Travala.com using KISHU tokens. Living Vogue Real Estate also accepts KISHU payments. After establishing a relationship with the Bybit exchange, Kishu Inu became the first-ever meme coin to host its NFT collections on the exchange. What Does Kishu Inu Aim to Achieve? As a meme coin, Kishu Inu stands out with crypto users by having a legitimate purpose. Compared to some of its well-known predecessors, Kishu Inu brings newer concepts to the table and offers them to a mainstream audience. Its innovative features, aimed at achieving its purpose, include Kishu Swap, Paw Print, Kishu Crate and Kishuverse. Kishu Inu promotes growth and development through its transparency and self-management style. While many meme coins may seem to simply be passing trends, this project focuses on maintaining its appeal through continued development and a better rewards system. It’s also been designed with security in mind: Its code is heavily audited and its crypto tokens are burned to minimize risk. How Does Kishu Inu Work? The KISHU token is an Ethereum ERC-20 token. It’s used for a decentralized usage rewards mechanism through which token holders receive an allocation of 2% of each transaction fee. Therefore, token holders can benefit from a regular stream of income. They can also create, sell, trade and buy NFTs, in addition to earning staking rewards and participating in a play-to-earn game available for crypto users. Features of Kishu Inu This meme coin project is more than just another dog-themed meme coin, thanks to its robust features and mechanisms. While the developers have taken inspiration from Dogecoin and others, they’ve focused on creating something that will appeal to the mainstream and that adopts the latest features and mechanisms. These features encourage users to hold their crypto tokens for a longer period of time — and also drive long-term appeal to investors.  What are the unique features of Kishu Inu? Instant Usage Rewards Kishu Inu is structured with a static rewards system. As mentioned, each time KISHU tokens are bought or sold, a 2% transaction fee is charged. The transaction fee is disbursed to the wallets of KISHU holders as a reward. The exact amount that each token holder receives is based on their percentage of the crypto tokens in circulation. Many meme coins are heavily traded as crypto users try to make a quick buck off of price fluctuations. This static rewards system, however, encourages KISHU token holders to keep and even grow their holdings over a longer period of time. Kishu Swap Kishu Inu functions with a DEX, known as Kishu Swap, which runs on Uniswap. The Uniswap DEX is well-known as one of the safest and largest currently in operation. Through Kishu Swap, token holders can exchange, buy or sell any of the many available ERC-20 crypto tokens. Kishu Swap will soon be revamped into Kishu Swap X, which will feature an all-in-one solution for swapping. Its users will be able to look forward to swapping between more than 16,000 tokens across 22 different blockchains, and enjoy the best rates with optimal routing and bridging systems. Kishu Crate Artists participate in contests within the Kishu Inu community, and the NFTs that they create are offered through Kishu Crate. Artists receive prizes for their efforts through the KISHU liquidity pool. Token holders can stake their tokens in Kishu Crate, and receive digital collectibles and NFT rewards in the process. The Kishu Inu community collectively votes on which digital art pieces should be made available to stakers through Kishu Crate. Kishu Paw Print Token holders can easily track their earnings, prizes and holdings through the Kishu Paw Print app. This easy-to-use app offers detailed stats on usage, and includes a price chart, the current U.S. dollar value of the user’s holdings, and more. In addition, crypto users can conveniently monitor their holdings without having to sit in front of a computer. Kishuverse Kishuverse is one of the newest developments for the Kishu Inu project, with some aspects of it still in the works. It’s a centralized hub on which artists can mint their NFTs, created within the Kishu Inu platform. Until this part of the project is completed, crypto users can access the official Kishu Inu Collection on OpenSea. Kishu Kingdom Another unique feature of Kishu Inu is the Kishu Kingdom game. This play-to-earn (P2E) card game places players head-to-head in a manner that’s similar to Hearthstone and other digital card games. Kishu Kingdom requires considerable strategy. Each player chooses their hero and assembles decks. Spells, pets and weapons can be used by the hero to defeat opposing players.  This game originally debuted as Bybit Mystery Boxes. Today, these NFTs are available for purchase through the Bybit NFT Marketplace. NFT holders will have early access to the game, and may also receive various types of rewards in it. How to Buy Kishu Kingdom NFTs To purchase these mystery boxes through Bybit, you’ll first need to create an account with Bybit. Once your account is created, transfer funds to your Spot account. When your account is funded, you can select your NFTs and finalize your purchase. Kishu Inu Road Map While Kishu Inu launched in 2021, it’s already progressed through four phases of development. The first phase was the actual launch. At that time, the goal was to have 2,000 holders and 2,000 Telegram members. Listings on CoinGecko and CoinMarketCap were also completed.  The second phase was for growth, with the developers focusing on goals of 20,000 holders and 10,000 Telegram members. The website also was redesigned during this phase.  During phase three — expansion — the decentralized Kishu Swap exchange was released. Participation grew to 30,000 holders and 15,000 Telegram members. In addition, initial CEX listings with Hotbit, Bilaxy and CoinTiger were completed.  The last is the utility phase, which included growth to 100,000 holders and 50,000 Telegram members. Additional CEX listings were created, and the exchange was listed on NOWPayments.io. Paw Print, Kishu Crate and a listing on Shopping.io were also established. KISHU Tokenomics Kishu Inu is a community-driven, decentralized platform that functions with the Ethereum-based KISHU token. This token can be exchanged through the Kishu Swap DEX. It may also be used to purchase NFTs, and it may be earned with the Kishu Inu reward mechanism. KISHU can also be staked for additional incentives, and has passed a thorough security audit. There are 100 quadrillion KISHU tokens in circulation today. Its market cap is just over $38,987,000. KISHU Price Prediction The current price (as of Dec. 9, 2022) of a KISHU token is $0.000000000396. Its price is volatile, and is affected by several key factors. One of these is its status as a meme coin. Meme coins have largely been used as short-term investments, which can drive significant price fluctuation in a short period of time. The token’s accessibility on leading trading platforms can drive interest and activity. Also, there’s growing interest in the decentralized finance (DeFi) sector. Kishu Swap acts as a DeFi exchange, and trading activity may be elevated as a result. It’s important to note that KISHU’s starting price in April 2021, $0.000000000069, peaked only a month later at $0.000000017547. The value then plummeted, only to shoot back up 1,900% by October 2021. However, between that time and August 2022, KISHU’s value dropped by 94%, which can most likely be attributed to overall bear market sentiment. Business2Community’s KISHU price prediction for the end of 2022 is $0.0000000024. By the end of 2023, they forecast the token’s price may reach $0.0000000038 and, looking farther ahead, $0.0000000073 in 2025. Is KISHU a Good Investment? Buying any type of cryptocurrency is speculative at the moment. However, a stockpile of KISHU tokens can currently be purchased for a few cents, so the risk of making a modest investment is truly negligible. The value of a KISHU token is currently far off its peak, and there’s a possibility that it may decline further.  However, if this happens, the loss may be minimal. On the same note, if the value skyrockets, you may stand to gain very little over the next several years. Nonetheless, there’s a great opportunity to make a profit through token value appreciation and rewards if you intend to make a long-term investment. The Future of Kishu Inu Kishu Inu has progressed successfully through its four phases of growth and development. At the same time, more than 100,000 crypto users purchased KISHU during its first month, and that number has continued to grow. In addition, the social media platforms for Kishu Inu have hundreds of thousands of followers. There’s considerable interest in Kishu Inu, and that interest may grow over time. Its marketplace has specifically been designed to have longer staying power than other doge meme coins, and its unique features and upcoming developments may contribute to its continued popularity. Closing Thoughts Kishu Inu has specifically been developed using the best traits of popular meme coins, but its development has also centered on creating features and mechanisms that encourage long-term investments. Given KISHU’s extremely low price today, the cost to get started is minimal, and could prove to be lucrative down the road.   Source: Kishu Inu (KISHU): The Next Meme Coin With Growth Potential? | Bybit Learn
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Merkle Trees Have Proven To Be Highly Useful For Cryptocurrency Platforms

ByBit Analysis ByBit Analysis 16.12.2022 12:21
Merkle trees are used in computer science applications as a data structure for data verification and synchronization. Merkle trees are also used to more securely and efficiently encrypt blockchain data in Bitcoin and other cryptocurrencies.  With cryptocurrencies, a Merkle tree database is used to securely split the block's data and ensure that it is not lost, damaged, or altered. This method of data management makes it possible to validate specific transactions without downloading the entire, terabyte-sized blockchain. It is a reliable, secure, and cryptographic method of running the blockchain. As a result of the fall of the Centralized Exchange (CEX) giant, FTX, many CEXs have built and implemented Merkle Tree as a form of Proof of Reserves (PoR) to assure users that their funds are safe. In this article, we will be discussing what are Merkle trees, their role in blockchain and how a user can validate their funds using the Merkle tree. Who is the Founder of Merkle Tree? Ralph Merkle, a computer scientist renowned for his work on public-key cryptography, proposed Merkle trees in the 1987 paper "A Digital Signature Based on a Conventional Encryption Function". Cryptographic hashing was also invented by Merkle. What Is a Merkle Tree? Merkle tree is a hash-based mathematical data structure that compiles the summaries of all the transactions in a block. It is a method for quickly checking the accuracy of data in a decentralization manner. As a result of its functionalities, Merkle trees are utilized more effectively and securely to encrypt blockchain data.  Merkle trees are often used with peer-to-peer (P2P) networks because of the need to have information shared and independently validated. Let’s understand more about Merkle trees and how they work. Merkle Tree Structure The Merkle tree, also known as a hash tree, has a binary tree structure, with the hashes of the transactional data on the bottom row being referred to as "Leaf Nodes," the intermediate hashes being referred to as "Non-Leaf Nodes," and the hash at the top being referred to as the "Root." Even though the majority of hash tree implementations are binary (each node has two child nodes), they can also have a lot more child nodes. Source: Simplilearn When looking at the structure of a Merkle tree, all transactions are grouped in pairs. Each pair has a computed hash that's stored directly in the parent node. These nodes are also grouped into pairs, after which their hash is stored on the next level up. This process continues until reaching the root of the Merkle tree. Let’s take a look at each of the nodes: Leaf Nodes These are the hashes of each cryptocurrency transaction in a block, also referred to as transaction IDs (TXIDs). You view the transaction hash when you search for a transaction on a block explorer. Non-Leaf Nodes Then, to create a layer of non-leaf nodes above the leaf nodes, these leaf nodes are hashed together in pairs. They are known as non-leaf nodes because, in contrast to leaf nodes, they merely store the hash of the two leaf nodes that it represents and don't contain transaction IDs (or hashes). As a result, there will be half as many hashes (or nodes) in the non-leaf node layer above the leaf nodes as there are in the leaf node layer. As the tree narrows as it ascends, these non-leaf node layers continue to be hashed together in pairs, resulting in half as many nodes per layer. Two nodes will be present in the final non-leaf node layer. This creates the Merkle root and is the location of the last hashing in a Merkle tree. Merkle Root With Bitcoin, the hashes of all transactions are combined into a single hash and stored in the block header. The Merkle root, also known as the root hash, is this particular hash. The leaf nodes (transaction IDs/hashes) at the base of the Merkle tree can be verified using this Merkle root. When used for cryptocurrencies, the Merkle root makes sure that data blocks are unaltered, undamaged and whole. A Merkle tree is binary, which means that the total number of different leaf nodes must be even for the tree to be properly constructed. When an odd number of leaf nodes exists, the previous hash will be duplicated to provide an even number of nodes. Source: Techskill Brew How Does a Merkle Tree Work? A Merkle tree is essentially designed to break large pieces of data into considerably smaller chunks, which ensures that all the transactions can be verified promptly. The tree summarizes every transaction by creating a small fingerprint of a specific set of transactions, which makes it easier for users to verify the availability of transactions in a block.  Merkle trees are formed by hashing different pairs of nodes until just one hash remains, which is referred to as the Merkle root. These trees are built from the bottom up, with each transaction consisting of hashes. Every leaf node is a singular hash of data. As for non-leaf nodes, these are hashes of previous hashes. Let's say that a Merkle tree consists of four transactions which are labeled D0, D1, D2 and D3. Each transaction is hashed before the hash is stored directly on the leaf node. When this occurs, hash N0, N1, N2 and N3 are created. Any consecutive pair of leaf nodes will then be summarized in a parent node via the hashing of hash N0 and hash N1, which results in hash N4. If hash N2 and hash N3 are hashed together, hash N5 is created. Both of these hashes, N4 and N5, are hashed once more in order to create the Merkle root. This process can be used with extensive data sets. The Merkle root is responsible for summarizing the data that's present in specific transactions, all of which are stored directly in the block header. This technique results in data integrity being properly maintained. In the event that one detail within the transaction is changed at some point, the Merkle root will automatically change alongside it. Benefits of a Merkle Tree There are many benefits for blockchain technology and cryptocurrency platforms when using a Merkle tree to verify transactions, which include everything from efficient verification to easy tampering detection. Efficient Data Verification Process It's easy for transaction integrity to be verified in practically no time at all. Because of how the data is structured, very little memory needs to be used during the verification process and the computing power required is significantly reduced.  Because blockchains typically consist of hundreds of thousands of blocks, each of which can contain up to several thousand transactions, validating the data poses two major challenges: memory space and computing power. Every node on the network would have been required to maintain a complete copy of every transaction that has ever taken place on the blockchain if Merkle trees were not a concept in the blockchain. A node would have had to compare each entry line by line when verifying a transaction to ensure that its records exactly match the network records. The network's security could be jeopardized if there was any discrepancy between the records. As a result, to compare the records to make sure there had been no changes, the computer used to validate the data would have needed much more processing power.  Merkle trees, on the other hand, offer a solution to this issue by drastically reducing the amount of data that must be kept on hand for verification needs. They hash every entry in the ledger, effectively separating the data itself from the evidence supporting it. Without knowing every single TXID in a block, you can check a TXID using the Merkle root with a Merkle tree. A Merkle tree is essentially a great way to demonstrate that something is present in a dataset without having to download the entire set. Consequently, less computing power is needed to validate the transactions. Faster Processing Speed As a result of the distribution of the transactions on the block among the validators, each validator is working on a different transaction at the same time. Compared to a method where each transaction is sequentially validated after another, this is much more effective. Usage of Crypto Wallet Simple Payment Verification (SPV), which enables you to confirm a transaction without downloading an entire block or blockchain, is made possible by the Merkle tree. This enables the use of a light-client node, more formally known as a crypto wallet, to send and receive transactions. Detection of Any Tampering The hash structure makes it easy for miners to identify if tampering has occurred with transactions.  A distinct hash value is generated for each block using the Merkle root. The block links one block to another in the blockchain by including the hash of the preceding block. The hash of any transaction changes whenever that transaction is modified. The block becomes invalid as a result of this change because it cascades up to the Merkle Root and alters its value. This then causes a change in the hash of the following block, rendering the remainder of the Blockchain invalid. As a result, the Merkle tree creates an immutable record of the block's transactions. Double spending can also be prevented as a result. If an individual tries to double-spend his digital currency, a hash will be generated for that transaction. If that hash matches the existing records present on the Blockchain, that transaction is rejected. Why Are Merkle Trees Important in Blockchains? Merkle trees have proven to be essential for blockchain technology because they facilitate quick and easy verification in a manner that's not possible with other techniques. These Merkle trees provide developers with the ability to compress exceedingly large sets of data by getting rid of all unnecessary data, and turning the data that remains into hashes. The various features provided by Merkle trees include: Very lightweight structure Effective scalability Fuel efficiency Verification that transactions are included in a specific block Basic payment authentication Merkle Tree Proof-of-Reserves (PoR) As mentioned in the beginning, following the downfall of FTX, users have been concerned as to whether their funds are actually kept safe in CEXs. As a result, multiple CEXs have come forth to develop a Merkle Tree Proof-of-Reserve mechanism. In this section, we will be looking into Merkle proofs and how our users can validate their funds. Merkle Proofs A Merkle tree proof is a cut from a Merkle tree, not the actual tree. And be represented as an array or sequence (shown by the orange portion in the diagram below). All of the leaf nodes and the balance information for a particular single user of our company are represented by the figure's last level nodes. Assuming that the pink people in the figure represent the intended recipients of the proofs, we extract the orange portions of the figure level by level and present the proof documents to the users in order of height. It's significant to remember that the Merkle proof has two main components The direct parent nodes (i.e., B and D) of this user are not extracted. Provide the root node, i.e. Merkle root. Taking the volume of 10 million users as an example, the height of the tree can be calculated as Log2(10,000,000) = 23.2534966642 based on the mathematical formula, which gives the height of the tree as 24 levels. Therefore, the nodes in the graph that are intentionally not provided to users will be 24 - 2 = 22. Merkle tree is a complete binary tree, which allows us to calculate all of the information about its parent node by simply knowing the left and right nodes. Two parts make up this complete information: the balance data and the hash data. Balance Data: The parent node data can and can only be split to its lower left and right nodes. Hash Data: Only balance data, tree hierarchy data, and child node hash data will be present for each node (each node keeps summary data of the left and right nodes below it). The validation of the Merkle tree is computed by deriving the B and D and verifying that the balance is in accordance with the splitting principle; and the hash is legal. By utilizing a hash summary function, the Merkle tree enables users to determine whether they are a part of the entire tree without having to be aware of every purple node in the graph. The Merkle proof is exclusive to that user. For instance, a 24-level Merkle tree requires an array of 23 elements to verify the user's balance information, and this array can only confirm that the user's balance proof is accurate. The user cannot reconstruct the entire tree based on his or her fragmented information as long as they do not obtain more than half of the total number of users. As a result, the Merkle tree protects both user privacy and the company's ability to prevent the leak of information about the company's overall assets. Validating Your Bybit Account There are 2 methods available for you to validate your Bybit account and to check the validity of funds. Platform Validation Tool This method is the first and only one in the entire network, and it will show the node derivation process of Merkle Tree validation in an intuitive graphical manner on the company's platform. Self Validation Tool The company's Merkle tree generation source code and validation code are openly available on github to assist users in programming their own validation. The Merkle tree calculation process involves a huge amount of user calculations, which are usually implemented by big data and Java.  *An open Java code means that it is open to users without holding back any information. Bybit has open-sourced the following code for professional users to validate their own Merkle Tree proof file by copying it from their proof of reserves page to their own "sticky" version of the system via the Copy Data button and storing it as a file named myProof.json to local disk. Applications of Merkle Trees in Blockchain Merkle tree and Merkle root structures have already been widely adopted across many different blockchains and cryptocurrency platforms. The following details three such applications. Bitcoin Bitcoin uses Merkle trees in several ways, which makes these trees integral to the entire Bitcoin platform. In fact, these trees are present in every Bitcoin block header. The hash for every transaction that's available within the block is placed in the header. When it comes to Bitcoin, the Merkle root is important for mining as well as verification. Mining Bitcoin blocks consist of headers that contain metadata as well as an extensive list of transactions. This list is usually larger than the block's header. Miners hash data to create an output that adheres to specific conditions, which is necessary when validating a block. The miners can make trillions of separate attempts before they find a valid block. Every attempt requires a number in the header of the block to be changed. Even though thousands of separate transactions can exist in a block, each one must be hashed. Merkle roots allow miners to make this process much more efficient. When the mining process begins, all that's necessary is for the transactions to be made into a Merkle tree, after which the root hash can be placed within the block header. At this point, the miner is only required to hash the header of the block, as opposed to the entire block. Verification Another aspect of the Merkle root that's used with Bitcoin involves leverage, which focuses on light clients. When a node is being operated on a relatively weak device that has limited resources, users won't be able to download and hash every transaction in a single block. Instead, a Merkle proof can be requested, which is confirmation that a transaction is present in a block. By reducing the number of hashes that need to be performed during the verification process, verification can occur without using as many computing resources. Ethereum Ethereum is based on a somewhat modified version of the Merkle tree, which is why it's referred to as the Merkle Patricia tree. Every block within the Ethereum blockchain consists of three Merkle trees, as opposed to one binary tree — which is what happens in Bitcoin blocks. Each of the three roots has its own purpose. The initial root is considered to be the root of every transaction. As for the second root, it shows the state of the transaction. The final root is the receipt of the transaction. A user can look at a Merkle root to determine if a transaction is found on a specific block, as well as determine what their account balance is. Hyperledger Fabric When looking specifically at Hyperledger Fabric, this blockchain platform uses a Merkle tree to compute block data as a hash. The hash value identifies the width of the Merkle tree. Merkle trees on the Hyperledger Fabric platform work just like the ones on the Bitcoin platform. The Bottom Line Merkle trees have proven to be highly useful for cryptocurrency platforms that want to make sure their transaction verification process is as easy and efficient as possible. Without this structure in place, verification would be a time-consuming process because the data would need to be transferred throughout the entire network for verification. The platforms that use Merkle trees benefit from less bandwidth and computational power requirements.   Source: What Is a Merkle Tree & What Is Its Role in Blockchain? | Bybit Learn
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

A Clear Sign That Hong Kong Has Not Strayed From Its Cryptocurrency Path

Sebastian Seliga Sebastian Seliga 16.12.2022 12:40
Crypto Industry News: Two ETFs that track U.S.-listed cryptocurrency futures will debut on the Hong Kong Stock Exchange tomorrow. The products will feature BTC and ETH as underlying assets and will become the first ETF futures to be traded in Asia. The funds will track futures contracts listed on the Chicago Mercantile Exchange in the US. The products marked CSOP Bitcoin Futures ETF and CSOP Ether Futures ETF have raised a total of $73.6 million so far, with the former accounting for $53.9 million of that amount. Products do not invest in "physical" bitcoins and ether. Instead, they allow investors to jump on the bandwagon without buying tokens from "unregulated platforms." The initiative is a clear sign that Hong Kong has not strayed from its cryptocurrency path and remains open to the development of virtual assets. Technical Market Outlook: The Bitcoin bulls had made a new local high at the level of $18,360 and then reversal has started. The next target for bulls is located at $18,660, but first the correction must be completed. The level of $17,428 will now act as the key short-term technical support. Please notice the market coming off the extremely overbought conditions on the H4 time frame chart and the RSI is now under the fifty level already. Weekly Pivot Points: WR3 - $17,347 WR2 - $17,136 WR1 - $17,014 Weekly Pivot - $16,995 WS1 - $16,803 WS2 - $16,718 WS3 - $16,502 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The key long term technical support at the psychological level of $20,000 had been violated, the new swing low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the long term. Relevance up to 10:00 2022-12-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305224
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Microsoft Does Not Allow Cryptocurrency Mining On Its Online Services Without Prior Approval

Sebastian Seliga Sebastian Seliga 16.12.2022 12:48
Crypto Industry News: Microsoft has updated the terms of its policies to highlight that it does not allow cryptocurrency mining on its online services without prior approval. The update went live on December 1 and applies to all users, including paid Microsoft customers. In the "Terms of use" section, Microsoft wrote that it requires users to obtain the company's written pre-approval in order to use any Microsoft Online Services for cryptocurrency mining. It seems that the only time a company would give written approval is for the "Testing and Investigating for Security Detection" purpose. The update prohibits users from mining and adding transaction records to proof-of-work blockchains on Microsoft's online services, largely related to the Microsoft Azure platform. Microsoft has reportedly said that its latest cryptocurrency mining restrictions are designed to protect online services from threats such as cyber fraud, attacks, and unauthorized access to customer resources. Technical Market Outlook: The Ethereum cryptocurrency has made a new local high at the level of $1,350. This is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through towards $1,400. The bulls were rejected from this level towards the 100 SMA on the H4 time frame chart. The level of $1,308 will act as the technical support, so please keep an eye on this level. The momentum is weak and negative already, so the corrective cycle might extend towards the technical support located at $1,240. Weekly Pivot Points: WR3 - $1,291 WR2 - $1,269 WR1 - $1,257 Weekly Pivot - $1,248 WS1 - $1,235 WS2 - $1,226 WS3 - $1,204 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 10:00 2022-12-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305226
The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

The FTX Bankruptcy Exposed Vulnerabilities In The Crypto System

Marek Petkovich Marek Petkovich 16.12.2022 12:56
Ignorance is no excuse. Accusing FTX's founder of fraud was a breath of fresh air for the entire crypto market. If people had believed Sam Bankman-Fried's words about not knowing how it all works, the whole industry would have been hit. Capital outflows from Binance, which reached $3.7 billion in a week, would have accelerated, and BTCUSD quotes would have continued to go down. Fraud looks much better because the rest of the crypto exchanges can be crystal clear. And when confidence in an asset is restored, it can find the bottom. For those with a glass half full, looking for the good when things are bad is commonplace. Seemingly, the collapse of Bitcoin by 70%, the collapse of the TerraUSD stablecoin, and the bankruptcy of FTX made crypto winter so severe that it is now difficult to find a person who would adhere to the FOMO strategy "buy or lose." Fear of losing profits was typical for the crypto market a year ago, now it is in a very different situation. But all things come to an end, good and bad. And if the market can learn the lessons, the crypto winter will end. According to Deutsche Bank, the FTX bankruptcy exposed vulnerabilities in the crypto system, including insufficient reserves, conflicts of interest, lack of regulation and transparency, and unreliable data. All of these can be addressed by bringing the crypto ecosystem closer to the established financial sector. Investors, who slowed the capital outflow from Binance from 40,353 bitcoins on December 12 to 3,279 on December 15, understand this very well. It looks like the worst in terms of structural problems for the crypto market is over. It may start to regain lost correlations with U.S. stock indices. Dynamics of capital flows on the Binance exchange Alas, the dynamics of the latter suggests that the fall of BTCUSD is in danger of continuing. Even despite the gradual restoration of confidence in the crypto industry. The Fed is to blame for everything, for not paying attention to the slowdown in inflation in the United States in November from 7.7% to 7.1% and is ready to raise the federal funds rate by another 75 bps to 5.25% in 2023. Given the central bank's predicted GDP slowdown to 0.5%, a recession is likely next year. And the S&P 500 fears it. It's not for nothing that the broad stock index collapsed in response to disappointing statistics on U.S. retail sales. So there is both good news and bad news for Bitcoin. The good news is that the accusation of fraud to the FTX founder and the slowdown in the outflow of capital from crypto exchanges indicate the restoration of trust in the system. The bad news is that the terrible times for risky assets, led by U.S. stocks, seems not yet over. Technically, on the daily chart, BTCUSD clearly worked out the buying strategy from 17,400, followed by a reversal from the 18,000 pivot point. If the attack of the "bears" is not stopped by moving averages, there is a high probability that Bitcoin will fall to 16,500. The recommendation is to hold shorts and increase them on pullbacks. Relevance up to 07:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330011
Bitcoin under pressure after stocks

Bitcoin under pressure after stocks

Alex Kuptsikevich Alex Kuptsikevich 16.12.2022 11:58
Market picture Bitcoin fell on Thursday by the most in 3.5 weeks amid a sharp decline in stock indices and a stronger US dollar. BTC rolled back to $17.4K, losing 1.3% overnight. Ethereum, which trades at $1270, shows the same decline amplitude. Total crypto market capitalisation is down 0.7% to $852bn. The pressure on cryptocurrencies came from the stock market, so assets with more institutions are faring worse than others. The Cryptocurrency Fear and Greed Index was down 2 points by Friday, to 29 and continues to be in a state of "fear". From a tech analysis perspective, Bitcoin has failed to latch on to levels above the 50-day moving average, causing it to now face speculative pressure. However, this kind of pressure usually lasts for a day or two unless backed by external reasons. On the higher - weekly – timeframe, one can see the development of the current downward phase since the end of May. The RSI would form a bullish divergence, as new price lows correspond to higher levels in the index. This could signal exhaustion for the sellers or consolidation before the next leg down. News background Cryptocurrency exchange Binance has enough liquidity to allow all customers to withdraw 100% of their assets, if necessary, said Changpeng Zhao, head of the company. However, he said 99% of users need to gain the knowledge to hold cryptocurrencies on their own and, therefore, could lose their assets. The collapse of FTX caused fewer losses than the bankruptcy of the Terra ecosystem before it, Chainalysis claims. That said, estimates of realised losses may be overstated, as any move from one wallet to another was considered a selling event. ConsenSys, the company behind the popular cryptocurrency wallet MetaMask, announced a partnership with payments firm PayPal where users can buy Ethereum.
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

The Use Of Cryptocurrency In Russia May Be Allowed By Its Central Bank

Sebastian Seliga Sebastian Seliga 19.12.2022 10:31
Crypto Industry News: The Central Bank of Russia is ready to consider allowing the use of cryptocurrency in the country. However, if it comes to that, it will only be as part of a legal experiment, said Governor Elvira Nabiullina. "It is possible to consider transactions through an authorized organization in the country as part of an experimental legal regime. However, this would require the relevant law," Nabiullina said at a Bank of Russia press conference on December 16. The main objection of the Bank of Russia to cryptocurrencies has always been that they cannot be used as a payment instrument, Nabiullina emphasized. She added that the central bank is also concerned about investor protection as the cryptocurrency market is very volatile. While Russia does not formally prohibit its citizens from investing in cryptocurrencies, the Bank of Russia believes that the massive adoption of cryptocurrencies will inevitably lead to their use as a payment method. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $18,600 and since then the corrective cycle is developed. The market has broken below 100 MA on the H4 time frame chart and is consolidating around this level inside a narrow range. The volatility is limited, so the rage is seen between the levels of $16,541 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 ( November 28th low). The weak and negative momentum supports the short-term bearish outlook on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term Relevance up to 09:00 2022-12-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305412
An Investigation Against Terraform Labs In Singapore

The Wider Community Around The Cryptocurrency Market Responded With More Amusement Than Enthusiasm To Donald Trump's NFT

Sebastian Seliga Sebastian Seliga 19.12.2022 10:42
Crypto Industry News: Former president of the United States and billionaire Donald Trump is probably a person who needs no introduction. Recently, he decided to publish his own collection of non-replaceable NFT cards, decorated with his image. His collection of "baseball cards" sold out in less than 24 hours, which makes it a great success, considering the market sentiment of investors, in terms of the last few cold months. The wider community around the cryptocurrency market, however, reacted with more amusement than enthusiasm, because those who have been in the industry a little longer remember Trump's statements about digital assets, in which he simply called them a simple "scam". The collection was realized in various cards, some of which represented particular interests or sectors of the eccentric president's life. These included images of Trump dressed as an astronaut, a cowboy or a racing driver. Interestingly, "Trump Digital Trading Cards (NFTs) are for personal enjoyment only, not for investment purposes," the collection page explains. Despite this, individual cards, as a result of the draw, offered lucrative prizes to the winners, such as a zoom with the former president, or even a personal meeting and dinner. The collection had a total of 2,533 NFTs sold for $99 each, bringing the sale to over $250,000. Technical Market Outlook: The Ethereum cryptocurrency has made a new local high at the level of $1,350 and then retraced more than 61% during the corrective cycle. The level of $1,350 is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through it on their way towards $1,400. The bulls were rejected from this level towards the 100 SMA on the H4 time frame chart and are consolidating around the level of $1,200 inside a Triangle pattern. The level of $1,217 will act as the technical resistance, so please keep an eye on this level. The momentum is weak and negative already, so the corrective cycle might extend towards the technical support located at $1,150. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-12-20 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305414
Bitcoin's Volatility Continues: Failed Breakout and Accumulation Signal Positive Outlook

Bankman-Fried's Attorneys Had Requested That He Be Released On $250,000 Bail

Sebastian Seliga Sebastian Seliga 20.12.2022 09:41
Crypto Industry News: Local media in the Bahamas reported that Sam Bankman-Fried had applied for bail. This came just two days after a court dismissed a previous SBF request, claiming that the founder of FTX posed a risk of absconding. The court then justified its decision. According to the information, Sam Bankman-Fried, who is currently serving a prison sentence for his role in the collapse of FTX, has filed a second appeal with the Supreme Court of the Bahamas, seeking release. This follows an earlier bail attempt that was turned down. On December 15, just over a month after the initial report was made, local media reported that the application would be considered on January 17. Earlier on December 13, Bankman-Fried's attorneys had requested that he be released on $250,000 bail because he had no previous criminal record and suffered from melancholy and insomnia. Moreover, he had no previous convictions on his record. The application for bail was denied as it was considered that there was a risk that the SBF would leave its jurisdiction. Meanwhile, the government of the Bahamas has declared that it will promptly execute any extradition request to the United States. This is a very likely option under the circumstances. In the United States, the case of the creator of the FTX cryptocurrency exchange is currently being investigated for eight different crimes. Some of them deal with money laundering, while others deal with banking and securities fraud. Technical Market Outlook: The BTC/USD pair had made a local low at the level of $16,268 in form of a Hammer candlestick pattern on H4 time frame chart. The market had broken below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $16,880. The volatility is still limited despite the recent spike down, so the rage is seen between the levels of $16,268 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 ( November 28th low). The weak and negative momentum supports the short-term bearish outlook on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305575
The Grayscale Bitcoin Trust Faces A Steady Decline In Value

The Grayscale Bitcoin Trust Faces A Steady Decline In Value

Sebastian Seliga Sebastian Seliga 20.12.2022 09:46
Crypto Industry News: Grayscale Bitcoin Trust CEO Michael Sonnenshein in a letter to investors said that if the trust fails to convert into an exchange-traded fund (ETF), potential moves could include a call for a 20% stake (120,000 BTC) in a $10 billion trust fund. The fund, or rather its shareholders, currently owns approximately 633,000 BTC. A tender offer would in fact mean an appeal to shareholders to get rid of their shares within a strict time limit, effectively returning the value invested in the fund. Grayscale's Bitcoin Trust was originally planned as an exchange-traded alternative to buying BTC. It also intensively applied for the status of an ETF fund, engaging a discount or premium to the net asset value (NAV). The premium or discount describes the difference in value between the shares in the mutual fund and the value of the underlying asset held, in the form of Bitcoin. When the value of the trust shares is higher than the underlying bitcoin, this is considered a bonus. When the value of the stock falls below the underlying bitcoin, it is considered a discount. Currently, the fund is traded at a discount of almost 50% to the underlying asset. Investors have had to consider various options recently as the Grayscale Bitcoin Trust faces a steady decline in value, extending losses to record lows and fueling the fears of already nervous investors. Technical Market Outlook: The Ethereum cryptocurrency has made a new local high at the level of $1,350 and then retraced more than 61% during the corrective cycle. The level of $1,350 is the key short-term technical resistance for bulls, so in order to continue the up move the bulls need to break through it on their way towards $1,400. The bulls were rejected from this level towards the 100 SMA on the H4 time frame chart and are consolidating around the level of $1,200 inside a Triangle pattern. The level of $1,217 will act as the technical resistance, so please keep an eye on this level. The momentum is weak and negative already, so the corrective cycle might extend towards the technical support located at $1,150. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305577
Last Friday Defrost Finance had been exploited losing $12M. Company got money back

What’s more worrisome is the fact that we will continue to learn of all of the contagion and aftereffects of the FTX collapse in the coming weeks and months.

Alex Strzesniewski Alex Strzesniewski 09.12.2022 19:01
FTX collapse raised the issue of stability of the industry and crypto companies as many of them may turn out to be linked or to some extent, dependent on the duff exchange. But it's not the only thing we asked AngelBlock's Aleks Strzesniewski as Porsche announced it will release its own NFTs series, what seems to be a bit odd in times of uncertainty. Alex, appreciate your time here! Let's set off with stablecoins - are you of the opinion that USDT and other stablecoins are at risk? The best way to move in these markets is with a permanent and healthy dose of constant skepticism. That being said, stablecoin FUD, and especially USDT FUD, seems like a market constant and I’m personally starting to approach negative USDT headlines the same way I’ve approached every headline proclaiming that “Bitcoin is dead” over the better part of the last decade - as unfounded sensationalism. That does not mean I’d be comfortable holding the majority of my networth in it. Stablecoins are here to stay and I’d go as far as to venture that stablecoins are probably some of the best crypto use-cases to date. Porsche has just announced their own NFTs. It's one of the most prominent brands in the world - would it mean NFT market isn't 'dead' yet and prices may bounce some time in the future? Much like in spot-market crypto, we need to discern between the actual potential use-cases and the way that the technology is currently being used. Back in 2016-2017, there was much talk and speculation for “real-world” use cases of blockchain tech, with many companies trying to get their feet in the game with some coin or token. 2021-2022 has many similarities, but instead of ERC20 tokens, these companies are creating NFT collections - most will also be forgotten, just like the ERC20 tokens from 5 years ago. In my personal (and highly speculative) opinion, there is more pain ahead for the NFT market before prices start to rebound. Read next: UK Santander Bank Fined USD 132 Million, Idris Elba in Cyberpunk 2077:Phantom Liberty| FXMAG.COM   It is said all the consequences of FTX collapse are in prices. Would you agree or disagree? When looking at the fall of FTX and Alameda itself, then this is most likely the case. What’s more worrisome is the fact that we will continue to learn of all of the contagion and aftereffects of the FTX collapse in the coming weeks and months. The collapse of FTX took a lot of the smart money in these markets by surprise. The question is whether we’ll see any other bankruptcies and collapses in the coming months, as those surely aren’t priced in. If our blackswan events conclude with FTX, Alameda, DCG, and Genesis, then highly likely we might be close to forming a bottom after a tumultuous 2022 for the markets. One aspect of the FTX collapse I plan to follow closely that, in my opinion, is not necessarily priced in, is the effect it will have on the entire Solana ecosystem. We may be seeing a battle within the high throughput, low transaction cost layer-1 ecosystem with potential troubles within Solana. I’m closely looking at development within competitors such as Aleph Zero.  
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

Ethereum Will Continue Its Upward Movement Today

InstaForex Analysis InstaForex Analysis 20.12.2022 12:09
The past week has been just as tough for Ethereum as it has been for Bitcoin. The altcoin formed the biggest bearish candle since the beginning of November and made a bearish breakout of the $1,250 support level. The next target for sellers was the $1,200 level. Over the weekend, trading activity subsided, which allowed ETH to move into a consolidation phase and absorb free coin volumes. As a result, as of December 20, the cryptocurrency began testing the $1,200 support level. In case of a downward breakdown of this level, the asset risks going to a retest of $1,000. BTC and ETH It is impossible to consider the price movement of Ethereum at the current stage of the market without comparing it with the dynamics of Bitcoin. Assets move head to head and show similar signals on technical metrics. On Bitcoin, we have seen buying activity leading to a defense of the $16.6k level. We see a similar situation on the Ethereum charts, however, unlike BTC, there is an activation of bears near the $1,220 level. However, in general, the bulls managed to accumulate solid volumes at the very start of the trading day, which happens infrequently, given the strategies of the Asian region. Given the bullish morning, it is likely that with the opening of U.S. markets, the situation will improve. Ethereum on-chain activity As of writing, the sharp activation of buyers is not supported by the growth of on-chain activity for several days. This may indicate manipulation by the market maker, who needs to keep the price above the $1,200 level. At the same time, it is quite acceptable that the on-chain activity of the cryptocurrency will begin to grow with the upward movement of ETH/USD. However, if the price of ETH continues to rise without a parallel increase in activity in the altcoin network, then the altcoin price increase should be considered manipulation and a bull trap. ETH/USD Analysis There is reason to believe that Ethereum will continue its upward movement on December 20. The technical metrics of the asset indicate the emergence of a local upward trend. On the daily chart, there is an increase in sales volumes and reversal of the RSI metric upward. The stochastic oscillator formed a bullish crossover near the green zone and also turned up. These signals confirm the presence of active buyers, and therefore we should expect a retest of resistance levels. The price of ETH/USD is moving towards the $1,220 level, which is a key resistance zone. The bulls have already managed to absorb some of the bearish volumes, but sellers have stepped up near the $1,200 level. On the 2-hour chart, we see a gradual expiration of the bullish potential, which was more likely a reaction to the $1,150 level spike. Moreover, we see a flat RSI and stochastic, which indicates a weakening of the bullish momentum and a gradual decrease in buying activity. Results Ethereum managed to defend the $1,200 mark, but the bears tested the $1,150 level. This triggered a backlash from buyers and buying back bearish volumes, which prevented the price from gaining a foothold below $1,200. However, as of wriritng, the bullish momentum begins to fade, and the advantage gradually shifts to the bears. Despite this, the altcoin has chances for further growth with the corresponding BTC price action and bullish sentiment in the stock market. ETH will not be able to gain a foothold above $1,220 without additional market maker moves and before the opening of U.S. trading. Relevance up to 09:00 2022-12-21 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330282
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

All You Should Know About MakerDAO, Uniswap, Compound, Curve, Aave And Yearn Finance (YFI)

ByBit Analysis ByBit Analysis 21.12.2022 09:05
Decentralized applications (DApps) have been growing in popularity since 2020, with web3 projects such as Uniswap and Illuvium causing widespread ripples in the markets. Many of these projects are hosted on the Ethereum blockchain, and they run through DApps. In this article, we’ll look at some of the best DApps and web3 projects to use with your Bybit Wallet. What Is a DApp? A decentralized application (DApp) is a software application that runs on a blockchain. Unlike internet-based applications, DApps don't need a centralized database to function. They run on Ethereum, but they also operate on other blockchains that generate smart contracts, such as EOSIO and TRON.  There are many types of DApps. Some include decentralized finance (DeFi), GameFi and NFT.  What Is the Bybit Wallet? Bybit Wallet is a web3-compatible custodial wallet that aims to provide users with easy access to various DApps on the Bybit Web3 Portal.  With the Bybit Wallet, you can discover all sorts of DeFi DApps, NFT collections, GameFi programs and more. To create your own Bybit Wallet, sign up for a Bybit account, and click on Connect Wallet. As a trusted crypto exchange that prides itself on next-level reliability, Bybit aims to provide a seamless experience that doesn’t require you to have a seed phrase. Bybit will hold the private key to your wallet, and with Bybit’s industry-grade security, rest assured that your funds will be kept safe. Some of the benefits of having a Bybit Wallet are: Cross-chain compatibility Private key management Airdrop management (digital assets collected automatically for you on the blockchain) Access to NFT marketplaces Access to DeFi products (swaps, earning and lending) Decentralized identity management After your Bybit Wallet is set up, head over to the Bybit Web3 Portal to view all compatible DApps. As Bybit aims to equip its readers with web3 knowledge, they can click on each DApp and view its respective background information. Bybit also offers guides and tips to read up on for web3. Now that you know how to create your Bybit Wallet, let’s explore the best DApps that will be compatible. Best DeFi DApps to Use With Bybit Wallet MakerDAO MakerDAO was launched on the Ethereum blockchain in 2017. It’s a lending platform on which users can borrow the stablecoin Dai, which is pegged to the U.S. dollar. The key to MakerDAO's success as a lending platform has been its decentralization. As with all DApps, MakerDAO has no borders. People around the world can use it. No one is subject to identity or credit checks, as they would be if they used a lending service through a bank. As its currency, Dai (symbol: DAI) uses cryptocurrencies as collateral, including ETH and any other Ethereum-based asset approved by MKR holders.  The cryptocurrency is locked until a user repays the loan and any incurred fees. Once they do, the collateral, ETH for example, will be released. However, if the ETH price drops below the price at which it was acquired, it will be sold off to pay the Dai that has been borrowed, plus any penalties. These liquidations, or the threat of them, help to stabilize the governance of the MakerDAO system.  Uniswap Uniswap, a decentralized exchange (DEX), allows anyone to participate in the transactions of ERC-20 tokens without the governance of a centralized body or intermediary. It gives permissionless access to financial services, thus staying true to the decentralized ideals of the Ethereum blockchain.  Since Uniswap is based on the Ethereum blockchain using smart contracts, it replaces traditional exchange functions — for instance, order books with their own automated and permissionless liquidity pools executed by algorithms. These liquidity pools are pairs of ETH and ERC-20 tokens exchanged by traders. On Uniswap, users are incentivized to provide liquidity to these pools by being rewarded with a trading fee share. In other words, when users supply liquidity, they’re given liquidity provider (LP) tokens that track how much liquidity they contributed. This method of providing liquidity eliminates the need to rely on market makers. One advantage of using Uniswap, or other DEXs, is that they're inexpensive. They also require minimal maintenance because they’re hosted on a blockchain.  Compound Compound, another borrowing and lending DApp built on the Ethereum blockchain, allows users to borrow and lend cryptocurrency from each other. All transactions are conducted through a smart contract protocol. Lenders can earn interest from cryptocurrencies by adding to the liquidity pool. To do so, users must first connect an Ethereum wallet, such as MetaMask.  Compound tokens are called cTokens. If a user deposits ETH, they’re given cETH in return. Likewise, if a user deposits USDT, they receive cUSDT in return. The cTokens allow users to track the value of the assets they’ve lent, as well as the interest accrued. While interest from each token will fluctuate, depending on the supply and demand of its native cryptocurrency, it’s still more than the interest offered by a traditional savings account. And Compound, like other DApps, doesn’t require identity checks; it also offers lower transaction fees. Moreover, the risks in borrowing are minimal, as assets are overcollateralized (a security measure in which borrowers put forward more assets than is needed as collateral).  Curve Curve is a DEX that quickly became popular. Like Uniswap, it uses automated liquidity pools. But unlike Uniswap, it’s explicitly designed to exchange stablecoins and Bitcoin-backed ERC-20 tokens, such as Wrapped Bitcoin (WBTC). Therefore, its maintenance costs are lower, and so are its fees.  Curve’s interface isn't designed for the mainstream user, as its use is so specific. Hence, not too many investors or traders want or need to exchange stablecoins. Just as with Uniswap, users can earn rewards for adding to the liquidity pool. Curve is also popular with yield farmers because of its high use of stablecoins in yield farming.  Although Curve's creators claim the lack of assets that can be exchanged increases its operating efficiency, the fact that you can only exchange stablecoins (and Bitcoin-backed ERC-20 tokens) can also be a disadvantage, at least from a user's standpoint.  dYdX Unlike other DEXs based on the Ethereum blockchain, dYdX lets you lend, borrow and trade cryptocurrencies on margin. The two types of margin trading are isolated margin and cross-margin.  Besides margin trading, users can lend assets to accrue interest and conduct regular asset trading. Some minimal miner-taker fees apply to trading.  Furthermore, users can earn interest by lending assets to other users. As with other lending DApps, the risk to the lender is low because of over-collateralization. For borrowing, the minimum collateralization ratio on dYdX is 125%. Aave Aave is another borrowing and lending DApp built on the Ethereum blockchain. Its users can lend their assets, and earn interest in the process. To do this, they must connect their Ethereum wallet to the DApp in a process similar to Compound’s.  However, Aave distinguishes itself from the rest through its additional flash loan feature. Practically speaking, these loans are valid for one blockchain transaction, allowing for uncollateralized debt. How is this possible? The transaction is reversible at any time if the loan isn’t repaid. Assets for flash loans are sourced from smart contract pools. The interest rates on Aave for flash loans are at only 0.30%. And flash loans pave the way for arbitrage opportunities. The way it works, traders can get a loan, make an arbitrage trade, then pay back the loan and any accrued interest.  Yearn Finance (YFI) Yearn Finance, launched in July 2020, is one of the newer kids on the block, and one of the most popular DeFi DApps. Yearn is a yield aggregator that automatically searches DeFi DApps on the Ethereum blockchain for the best yield returns. The YFI token saw remarkable price rises after being launched at $739. Over the course of two months, its price shot up rapidly, reaching over $43,000 by September 2020. Analysts chalked it up to the confidence those in the DeFi space have in Yearn Finance, which has an expanding array of products.  Vaults, its main product, enables users to deposit their cryptocurrency and earn yields in return. It employs more complex strategies to get yields than Earn, the first product of Yearn Finance, which is how the term (“yEarn”) was born.  Synthetix  Synthetix allows users to speculate on the price of real-world assets — currencies, stocks and precious metals — as well as other crypto assets, with ERC-20 tokens. The tokens, known as synthetic assets (or “synths), can track the assets' prices. As with MakerDAO, whose users need to lock up ETH as collateral to create its stablecoin, Dai, users on Synthetix need to lock up Synthetic Network Tokens (SNX) as collateral to create the platform's native stablecoin, Synthetic USD (sUSD).  To acquire the real-world information of the assets' prices, Synthetix has teamed up with Chainlink and its oracle technology to provide decentralized price feeds.  Source: 18 Best DApps & Web3 Projects to Use With Bybit Wallet | Bybit Learn
DPX Token Registered A 24-Hour Return Of 11.11%

Azuki - Anime-Themed NFTs, CryptoPunks, NFTfi And More NFTs Noteworth

ByBit Analysis ByBit Analysis 21.12.2022 09:06
Best NFT Collections/DApps to Use With Bybit Wallet Ethereum Name Service (ENS) Ethereum Name Service (ENS) is a naming system launched in 2017 that runs on the Ethereum blockchain. ENS essentially translates crypto wallet addresses that are usually complex and filled with strings of alphanumeric characters into much simpler, more readable wallet names. ENS domains are built on Ethereum smart contracts which makes them more secure than traditional DNS. As a decentralized, open-source service for the community, ENS focuses on providing a trustworthy domain name for Web3 users of the Ethereum blockchain. Although ENS domains end with .eth, each one is unique, which results in them being NFTs. And since they’re ERC-721-compliant, you can trade these ENS domains on many NFT wallets and marketplaces. This is also one of the reasons why ENS is one of the best DApps — it’s compatible with many wallets, including the Bybit Wallet. Bored Ape Yacht Club  Almost everyone has heard of Bored Ape Yacht Club (BAYC) — regardless of whether they spend time in the crypto space — because that’s how popular this NFT collection is. BAYC is a collection of 10,000 unique NFTs on the Ethereum blockchain, featuring profile pictures of cartoon apes with varying accessories and styles. It’s garnered such a strong fan base that celebrities such as Snoop Dogg, Justin Bieber, Madonna and Paris Hilton are in on it. Additionally, the BAYC team has created an entire ecosystem around the original collection featuring a Mutant Ape Yacht Club (MAYC) collection, Bored Ape Kennel Club (BAKC) collection, Otherdeed as land for their metaverse, and even an ERC20 token known as APE. BAYC NFTs don’t just make good profile pictures, they also double as a membership card to the Yacht Club, granting holders access to exclusive benefits. As of May 2022, BAYC surpassed $2 billion in sales. BAYC remains one of the most popular NFT collections to date, making it one of the best NFT collections to invest in. CryptoPunks CryptoPunks is another highly popular NFT collection built on the Ethereum network. It features 10,000 unique characters in 8-bit style. As one of the first NFT projects on the Ethereum network, CryptoPunks grabbed the attention of investors who wanted to be part of the hype. Furthermore, it was CryptoPunks that introduced the concept of ERC-721 tokens — a standard that dictates each token is unique and non-interchangeable — to the world.  Due to the NFTs’ singularity, demand for them quickly exceeded supply, driving prices up. This resulted in many CryptoPunks holders making windfall profits from trading their NFTs. CryptoPunks gained even more attention following its collaboration with Tiffany & Co. in August 2022, with the latter turning the NFT collection into physical pieces of jewelry for crypto enthusiasts to purchase. A custom collection of 250 NFTs in this NFTiff collection, priced at 30 ETH each, sold out within 22 minutes. Successful buyers could redeem their NFT for a physical pendant and chain. Although they launched back in 2017, CryptoPunks NFTs remain in demand and high in value, and are still one of the best NFT collections to consider. Azuki Azuki is a collection of anime-themed NFTs launched in January 2022 that quickly amassed $300 million in sales by February 2022. Just like BAYC, Azuki NFTs grant their holders access to an exclusive metaverse called The Garden. This virtual world is where members can look forward to streetwear collaborations, NFT drops, live events and other activities. Azuki’s popularity is also attributed to its strong relationship with anime, which has gained increasing international attention over the years. As mentioned, Azuki has plans to release streetwear collaborations. Azuki NFT holders can purchase Azuki clothing, merchandise and accessories. This ties in well with existing anime fans, who love purchasing anime collectibles. Furthermore, Azuki has a strong focus on community ownership. It believes in maintaining a vibrant community for its project to thrive. As such, it provides well-moderated online social channels for fans to interact and discuss the project, to which they all belong. With its art style, real-world merchandise and emphasis on community ownership, Azuki remains one of the most popular NFT DApps in the crypto market. OpenSea OpenSea is the largest peer-to-peer NFT marketplace in the world. The platform was launched in 2017 and allowed users to exclusively buy and sell rare digital collectibles in a quick and trustless manner. The NFT marketplace managed to close 2020 with roughly $21 million in trade volume but was quickly surpassed within the first two months of 2021, soaring to over $14 billion in the next year. Additionally, OpenSea is integrated with multiple blockchains like Ethereum, Polygon, Solana and Klaytn which could eventually drive even more volume toward the NFT marketplace. With the launch of Seaport, an open-source smart contract created for OpenSea and NFT fanatics, users can now transact NFTs in bundles even if they are in different token standards (ERC-20, ERC-721, etc). Listings may also choose to support partial fills of offered items or even opt for auction mechanics such as English and Dutch auctions. Despite the emergence of other NFT markets after OpenSea, the platform continues to hold the title as the greatest NFT marketplace due to its unrivaled trading volume, overall revenue and sheer number of users on the platform. OpenSea will soon be compatible to use with Bybit Wallet. Blur Blur is a brand new NFT marketplace that rose to fame after raising $11 million from renowned investors such as Paradigm. The newly launched platform saw an all-time high volume of $18.8 million in 24 hours within just two months of its release. The team behind Blur is focused on targeting professional NFT traders and has created a different mechanism compared to other NFT marketplaces. Blur allows traders to set their own royalties easily and does not charge any fees when transacting on the platform. This is great for traders as they get to earn a portion of every sale transacted even after selling the initial NFT while avoiding platform fees from eating into their profits. The NFT marketplace also has an aggregator that allows you to analyze and purchase a group of NFTs at once from different marketplaces. This allows professional NFT traders to sweep the floor of any collection with a single click rather than buying them up individually on various platforms. Apart from saving time and effort, the aggregator feature will also save them a huge amount of fees as individual purchases come with many hidden costs on top of the gas fees they would have to pay per transaction. Blur has the ability to expand its user base as NFTs become more widely adopted. The team will also need to find a way to maintain its commitment to NFT traders while making its platform more user-friendly for a larger audience in order to challenge OpenSea in the future. As with OpenSea, Blur is an NFT DApp that will soon be compatible to use with Bybit Wallet. LooksRare LooksRare is one of many NFT marketplaces that run solely on the Ethereum blockchain. Launched in 2022, LooksRare prides itself as a “community-first” NFT marketplace that actively rewards platform users and token stakers with its native token to incentivize participation on the platform. Since then, LooksRare has managed to gain market share on OpenSea and is averaging around half of its competitors daily volume, amassing more than $26 billion in total trading volume. This was due to several factors: lower fees, a highly incentivized reward system and revenue sharing which allows the NFT marketplace to stand out and differentiate itself from its competitors. While LooksRare currently does not have an NFT minting function, the platform does offer other interesting features such as the ability to purchase entire collections, purchasing an NFT with specific traits instead of filtering them out, and the option to cancel multiple open orders in a single transaction. With such an impressive entrance into the NFT space and a solid reward system, LooksRare has been able to scale massively in such a short period. It is worth keeping a lookout as the platform has huge potential to grow, filling the gaps created by OpenSea and maybe even outperforming them one day. Users can expect to use their Bybit Wallet with LooksRare soon. NFTfi NFTfi is a decentralized marketplace for users to make the most out of their NFTs by collateralizing them to finance transactions through liquid assets. Due to the illiquid nature of NFTs, the team has combined the idea of DeFi and NFTs to increase the liquidity among NFT traders while trying to attract new users into the space. Following in the steps of popular lending platforms like Aave and MakerDAO, NFTfi allows for NFT lenders to leverage on their collections to earn yield. Borrowers can also take up loans and borrow ETH or DAI by putting up their NFT as collateral. NFT lending provides the much-needed liquidity to increase activities and volume in the ecosystem. Additionally, NFTfi provides other features such as NFT fractionalization and NFT derivatives. NFT fractionalization is the process of sharing ownership of an NFT among thousands or millions of users, allowing retail investors to gain exposure to blue-chip NFT collections like BAYC or CryptoPunks. On the other hand, NFT derivatives represent tradable contracts that provide leverage and let users place directional bets on future NFT prices. With these new instruments offered by the platform, NFTfi remains one of the biggest NFT lending platforms in the space that has helped to unlock a whole new world of liquidity for NFTs for existing and future users. Do take note that while NFTfi cannot be used with Bybit Wallet at the moment, integration will soon be available. Source: 18 Best DApps & Web3 Projects to Use With Bybit Wallet | Bybit Learn
Stablecoins Could Be Used As A Way Of Storing Capital

The Metaverse Is A Hot Topic, Illuvium Allows Players To Create Customized Avatars And Explore A World

ByBit Analysis ByBit Analysis 21.12.2022 09:11
Best GameFi DApps to Use With Bybit Wallet Illuvium   Illuvium is a fantasy role-playing game in which players can create customized avatars and explore a world filled with aliens known as Illuvials. Players hunt and capture Illuvials to form teams for PVE quests, tournaments and events. In return, they earn the native Illuvium token, ILV, once they’ve completed the challenges.   Other than hunting Illuvials, players can purchase digital land NFTs, which give them access to in-game assets and benefits that include a source of income. The game has garnered so much attention that by June 2022, Illuvium had reportedly sold over $72 million worth of digital land NFTs. It’s no wonder that Illuvium is regarded as one of the best DApps available.  Decentraland The metaverse is a hot topic, and more companies are creating projects with state-of-the-art graphics to bridge the gap between the virtual world and the real one. Decentraland is one such project. Decentraland runs on the Ethereum blockchain and features a virtual world to freely explore. Players can choose to purchase and sell digital real estate (known as LAND NFTs), socialize with other like-minded individuals and play games within the platform. They can also purchase wearable NFTs and LAND NFTs with MANA, the native token of Decentraland.  Unlike other projects owned and managed centrally, Decentraland and its content are owned by its players. This has led to its popularity, resulting in it becoming one of the best DApps available in the GameFi space. The Bottom Line As web3 continues to grow, DApps will inevitably become more numerous and prevalent. They have distinct advantages over conventional applications: They never have downtime, users have complete control over their assets, and they feature ultra-low transaction fees. Additionally, as crypto becomes more widely used, people will no doubt be attracted to their use of cryptocurrency as payment, while DApps such as Uniswap can be used for passive income. Now that you know the best DApps and web3 projects to use with your Bybit Wallet, you can start using them through the Bybit Web3 Portal after signing up for a Bybit account. Source: 18 Best DApps & Web3 Projects to Use With Bybit Wallet | Bybit Learn
Nuclear Power Emerges as Top Theme for 2023, Bubble Stocks Under Pressure

Indonesia Has Potential In The Development Of Solar Energy

Kamila Szypuła Kamila Szypuła 21.12.2022 11:23
For the last few years, countries around the world have been doing what they can to achieve net zero. The effects of the actions are also visible in Asia, and the development of, for example, solar panels may be even faster, especially in Indonesia. Changes also took place on banknotes in the UK after the death of Queen Elizabeth. Soon the image of King Charles will be officially visible on banknotes. In this article: Banknotes with a portrait of King Charles III Potential solar energy Brutal year for the cryptocurrency world UK’s new banknotes The tradition of putting monarchs on banknotes did not start until the 1960s. Coins have long featured images of the ruler. After the death of Queen Elizabeth II for 70 years, the Royal Mint began work on new banknotes with the image of the successor. The Bank of England published on Tuesday photos of the first banknotes with a portrait of King Charles III. The new £5, £10, £20 and £50 polymer notes feature the king's portrait on a transparent security panel. Other than that, they are unchanged from the designs currently in circulation. They will officially enter circulation in mid-2024. For now, coins and notes with the portrait of the late Queen will continue to be legal tender in the UK New British banknotes featuring portrait of King Charles III revealed @hannahswg https://t.co/6jW17l6SuI — Ted Kemp (@TedKempCNBC) December 21, 2022 Read next: Nike Saw Strong Demand And Raised Its Revenue Forecast| FXMAG.COM The potential of solar energy The solar PV industry in Indonesia hopes that better prospects are just around the corner as solar PV costs continue to fall and reforms improve the business case. Last year, Indonesia's energy ministry approved a new 10-year business plan that sees renewable projects account for more than half of planned new capacity, a 25 percent increase over the previous plan. Indonesian energy ministry introduced improved conditions for solar power on grid roofs, reducing permitting time and increasing export credit The regional government wants renewables, mostly solar, to drive 35 percent of the province's approximately 5 million electricity generation by 2025, and has committed to reducing emissions by 31.9 percent by 2030 as part of the plans. Which means that Indonesia is on the right track to increase the potential of solar energy. This is particularly important as the country is the world's largest exporter of thermal coal and the state-owned grid, Perusahaan Listrik Negara (PLN), relies on domestic supplies to power two-thirds of electricity production. Indonesia has more potential solar energy than all the world’s power plants combined, but the archipelago faces many challenges weaning itself off fossil fuels. Read F&D to learn why. https://t.co/6ugA46WPS3 pic.twitter.com/24andHqVuQ — IMF (@IMFNews) December 21, 2022 Brutal year for the cryptocurrency world This year has undoubtedly been brutal for the markets, including the cryptocurrency market. It was a brutal reality check for an industry that started 2022 with dreams of widespread mainstream institutional adoption, of even gold being replaced by bitcoin as a global hedge against inflation. Now time has shown that gold still has its strength in difficult times, and bitcoin turned out to be not as stable as it might seem at first. UBS strategist James Malcolm points to the growing correlation between cryptocurrencies and US small-cap stocks as evidence of how bitcoin and other tokens can survive marginally as niche, diverse assets in investment portfolios. WATCH: The year 2022 has been brutal for the cryptocurrency world. Crypto met with Fed hawkishness, the crash of stablecoin TerraUSD, and fund and broker bankruptcies. Then came the collapse of Sam Bankman-Fried's FTX exchange https://t.co/bEZ8SAKBWf pic.twitter.com/jEl4LAgRkd — Reuters Business (@ReutersBiz) December 21, 2022
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Down Trend Of Bitcoin Continues Without Any Indication Of A Possible Trend Termination Or Reversal

Sebastian Seliga Sebastian Seliga 22.12.2022 14:16
Crypto Industry News: Former FTX CEO Sam Bankman-Fried (SBF), who was held by Bahamian authorities, faces extradition to the United States after questioning. According to reports, Bankman-Fried appeared on December 21 in a Bahamas Magistrates' Court hearing - his third since his arrest - where he waived his right to a formal extradition process that could take weeks. Officials from the U.S. Embassy, the Federal Bureau of Investigation, and the U.S. Marshals Service were reportedly present to facilitate Bankman-Fried's handover. Reuters reported that the SBF legal team said the former CEO "wanted to leave" the Bahamas. Jerome Roberts of Bankman-Fried's legal team reportedly heard the SBF say on December 19 that his decision was motivated by a desire to "put clients back on their feet." More than a million creditors from FTX have been without access to their funds for weeks. Bahamas officials arrested Bankman-Fried on December 12 as part of extradition proceedings to the United States, where he faces Department of Justice charges of defrauding investors and lenders, as well as lawsuits filed by the CFTC and the SEC. Prior to SBF's resignation on November 11, FTX and related individuals allegedly violated campaign finance laws through "dark money" donations and used customer assets to fund investments in Alameda Research. After being denied bail, the former CEO spent more than a week in custody at Fox Hill Prison in the Bahamas, a facility notorious for physical abuse of inmates and harsh conditions. He would likely be entitled to another bail hearing in the US court proceedings once his extradition is complete. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $16,880. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). The weak and negative momentum supports the short-term bearish outlook on the H4 time frame chart. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2022-12-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305974
The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

The Number Of Dead Coins In 2022 Is Significantly Lower Than In 2021

Sebastian Seliga Sebastian Seliga 22.12.2022 14:20
Crypto Industry News: Despite the ongoing cryptocurrency crash, the number of "dead" coins has decreased 3 times in 2022 compared to 2021. A new study has revealed the number of cryptocurrencies that have fallen short of expectations since their launch in 2022. The CoinGecko website counted about 950 cryptocurrencies in 2022 that were considered "dead" or "failed projects", according to a study published on November 29 this year. Determining the number of dead cryptocurrencies, the study highlighted that it reviewed cryptocurrencies that may have been off-site due to lack of trading activity in the past two months. At the same time, tokens were declared dead after being tagged for fraud or deactivation requests. The study shows that the number of dead coins in 2022 is significantly lower than in 2021. In 2021, over 3,000 such cases were counted, and this year "only" 951. The study found that the large number of dead coins in 2021 can be linked to a large influx of Doge and Shiba coins. It is worth noting that most "meme coins" had no significant value to the anonymous developers, and also required more involvement in their development. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to the level of $1,227. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited. The key short-term technical support is seen at the level of $1,150. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-12-23 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/305976
At The Close On The New York Stock Exchange Indices Closed Mixed

Declines In Most Sectors In The US Stock Marker, Only The Energy Sector Rose. The Cryptocurrency Market Has Stagnated.

Conotoxia Comments Conotoxia Comments 22.12.2022 14:31
After a week full of interest rate rises, it seems that markets may finally be catching their breath, or at least most of them. The exception may be Japan, where the central bank there has announced a turnaround in financial policy. Macroeconomic data Monday saw the publication of several important macroeconomic data, including the German Ifo Business Climate Index for December, the RBA meeting minutes, the PBoC Loan Prime Rate and a statement and the Bank of Japan. The German Ifo Business Climate Index is an important index that measures business sentiment in Germany. The reading for December was 88.6 points, which was better than expected (87.4 points) and may signal an improvement in business sentiment in Germany. The previous reading for November was 86.4 points. The result may indicate that the German economy is in better shape than expected and could be a positive signal for other economies in Europe. The minutes of the RBA (Reserve Bank of Australia) meeting did not bring any surprises and contained no significant changes to the central bank's monetary policy, which is expected to continue to raise interest rates. The PBoC (People's Bank of China) interest rate remained at 3.65%, which was expected by the market. The Bank of Japan (BoJ) released its monetary policy statement and held a post-meeting press conference. The first steps were taken to tighten monetary policy, announcing a rate hike and increasing the level of government bond purchases. Because of this, the Nikkei index (JP225) may have fallen by more than 3% since the start of the week. Source: Conotoxia MT5, JP225, Daily On Tuesday, we learnt about the number of new building permits in the US, the reading for November was 1.342 million, worse than expected (1.485 million) and a decrease in permits compared to the previous month (1.512 million). The reading may indicate that the construction sector in the US is less active than expected, which could have a negative impact on the economy, potentially contributing to higher unemployment in the sector in the future. Wednesday brought the publication of more data. We learned about Canada's core inflation reading (excluding food and energy prices). The reading for November was 0.0% m/m, while 0.2% m/m was expected. This represents no change in the price level compared to the previous month (0.4% m/m.). On the same day, we learned the reading of the Consumer Confidence index, which measures consumer sentiment in the US. The reading for December was 108.3 points, which is better than expected (101.0 points) and represents an improvement in consumer sentiment compared to the previous month (101.4 points). This good result could be attributed to the pre-Christmas period. The last of the important publications concerned US crude oil inventories. The reading for last week was -5.894 million barrels (previously 10.231 million b.). Which could suggest a return to a further shortage of this crude. On Thursday, we learned of signs of a slowdown in the UK economy. The GDP reading for the third quarter of this year was 1.9% y/y. (2.4% y/y was expected). This is down from the previous reading of 4.4% y/y. Due to the holidays starting on Friday's session, some stock exchanges will close earlier than usual, which should be taken into account in investment intentions. The stock market Declines in most sectors in the US are unlikely to represent optimism about the 'Father Christmas rally' starting. We could see the largest in the new technology sector. TheTechnology Select Sector SPDR Fund (XLK), which tracks the sector's quotations, fell by 4.8%. Only the energy sector rose. This seems to have had something to do with rising energy commodity prices this week. Source: Conotoxia MT5, XLK, Daily This week gave us the last of this year's Q3 figures. Tuesday brought the release of financial results from Nike (Nike), the global footwear and apparel giant, among others. The company reported Q3 EPS of $0.85, better than expected ($0.65). Next is General Mills (GnrlMils), the food manufacturer reported EPS of 1.1, a reading that came as a positive surprise to analysts (1.06 was expected). Next is FactSet Research (FactSet), a data and analytics solutions company, reported Q3 earnings of 3.99 per share, 3.62 was expected. On Wednesday, we learned the results of Micron (Micron), a computer memory manufacturer, which reported an EPS loss of 0.04 in Q3 (-0.01 expected). On the same day, Cintas (Cintas), an apparel services company, reported Q3 earnings per share of 3.12, expected (3.03). Carnival Corp (Carnival-US), the cruise company, reported a loss of $0.85 per share in Q3, better than expected (-$0.88). Currency and cryptocurrency market After a week of decisions by as many as 11 central banks, we saw numerous interest rate rises. These seem to have changed some global currency market trends. The EUR/GBP pair saw the biggest increase, up 1%, but we saw the biggest changes in pairs linked to the Japanese yen. The USD/JPY exchange rate has fallen by more than 3% over the course of this week and now stands at around 132. This is a drop of more than 13% from its peak, and appears to have been triggered by Monday's announcement of a change in monetary policy by the central bank of Japan. Source: Conotoxia MT5, USDJPY, Daily The cryptocurrency market has stagnated. The price of bitcoin (BTCUSD) was virtually unchanged over the course of this week, rising by just 0.3%. One of the strongest gaining cryptocurrencies was ethereum (ETHUSD), which increased in value by 2%. The digital currency market appears to continue to remain in its sideways course, showing no signs of changing. It's time for Christmas to begin! As we begin the festive period, we will not know any more key data until the end of the year, and the markets have to accept that this year would probably do without the usual 'Father Christmas rally' during this period. Nevertheless, we would like this period to be the best it can be for all of us. The Conotoxia team sends its regards. Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75,21% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The Ethereum Market Is In The Pull-Back Mode Now

Ethereum (ETH/USD) Could Extend Its Downside Movement

InstaForex Analysis InstaForex Analysis 23.12.2022 10:35
ETH/USD rebounded after its sell-off. The rebound was natural as the price could test and retest the immediate resistance levels before dropping deeper. It's trading at 1,222 at the time of writing below yesterday's high of 1,236. In the last 7 days, ETH/USD is down by 4.21% but it's up by 0.85% in the last 24 hours. BTC/USD's rebound helped the price of Ethereum to rebound as well. ETH/USD Natural Growth! Technically, the rate plunged after taking out the dynamic support represented by the uptrend line. Staying below the pivot point of 1,230 could announce a new sell-off. On the contrary, a bullish closure above this immediate obstacle could announce further growth in the short term. The descending pitchfork's upper median line (uml) represents a dynamic resistance. Testing and retesting this line could announce a new downside movement. ETH/USD could extend its downside movement as long as it stays below this line. ETH/USD Forecast! False breakouts above the weekly pivot point could announce a new sell-off. This could represent the first short opportunity. As long as it stays under the upper median line (uml), the rate could still be attracted by the median line (ml) Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306139
Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

Former Alameda Research CEO Caroline Ellison And FTX Co-Founder Gary Wang Have Pleaded Guilty

Sebastian Seliga Sebastian Seliga 23.12.2022 10:37
Crypto Industry News: Former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang have pleaded guilty to federal fraud charges and are cooperating in the Justice Department's investigation of former FTX CEO Sam Bankman-Fried. The US Attorney for the Southern District of New York (SDNY) Damian Williams made this information public on December 22, emphasizing that this latest major event is unlikely to be the last. Williams also confirmed that the SBF is now in Federal Bureau of Investigation custody and is "on his way back to the United States" where he will be flown directly to the Southern District of New York to appear before a judge "as soon as possible." In a separate proceeding, the U.S. Securities and Exchange Commission announced on Dec. 21 that it had charged Ellison and Wang for their involvement in a "multi-year plan to defraud equity investors in FTX," adding that it was also investigating other securities law violations and other related entities and individuals with misconduct. The SEC noted that both Ellison and Wang are also cooperating with ongoing investigations. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $16,880. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $16,720. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $17,039 WR2 - $16,862 WR1 - $16,778 Weekly Pivot - $16,685 WS1 - $16,601 WS2 - $16,509 WS3 - $16,332 Read next: According To The Economist Intelligence Unit (EIU), Cities In Europe And Canada Are The Best To Live In| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306141
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

The Ethereum Has Retraced 38% Of The Last Wave Down

Sebastian Seliga Sebastian Seliga 23.12.2022 10:46
Crypto Industry News: The world of cryptocurrency has been informed that the court, specifically the US justice of the peace, Gabriel Gorenstein, approved the release of Sam Bankman-Fried on bail of $ 250 million. Samuel will be placed under house arrest and will live with his parents in their home in California. According to the information, the possibility of bail and being under house arrest was a condition of Sam's voluntary extradition, which he made a deal with federal prosecutors. On release, the SBF agrees to abide by 'strict' rules, namely not being able to hold a passport (very surprising), agreeing to undergo regular mental health checks and must wear an electronic monitoring device. What's more, he will also not be able to open new lines of credit during this time. Following Samuel's appearance in a Manhattan court yesterday, where he was charged with one of the largest financial frauds in US history, the SBF pleaded not guilty and completely denied all charges against him. Read next: According To The Economist Intelligence Unit (EIU), Cities In Europe And Canada Are The Best To Live In| FXMAG.COM Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to the level of $1,227. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited. The key short-term technical support is seen at the level of $1,150. On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $1,222 WR2 - $1,201 WR1 - $1,190 Weekly Pivot - $1,181 WS1 - $1,169 WS2 - $1,160 WS3 - $1,139 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306144
Outlook 2023: The Major Trends And Themes For The Coming Year

Outlook 2023: The Major Trends And Themes For The Coming Year

Swissquote Bank Swissquote Bank 23.12.2022 11:38
DISCLAIMER: The opinions and comments of the speakers provided in this video do not constitute investment advice. You are responsible for your trades. All investments involve risk. 2022 has been very difficult for financial markets, equities, crypto, and bonds went down. Investors were hardly finding a safe place. In this chaotic environment, Peter Rosenstreich, head of investment products at Swissquote, and Ipek Ozkardeskaya, senior analyst, discuss the major trends and themes for the coming year and the way to invest for private clients with managed and balanced portfolios.   00:00 Intro 00:24 How to hedge or benefit from inflation 02:36 Shorting the global markets 06:54 Promising sectors for 2023? 08:32 Sustainable energy & decarbonization 09:10 Metaverse counter-performance 10:30 Global cybersecurity needs growing 11:57 Low point of semiconductors? 12:45 China: economic growth vs equity valuation 14:27 Themes Trading: how to invest in megatrends Peter Rosenstreich is the head of investment products at Swissquote. He identifies and analyses opportunities in structural and sustainable change, which includes new business models, disruptive technology, and impacts from sustainable investment. Ipek Ozkardeskaya began her financial career in 2010 at the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst at the London Capital Group in London and in Shanghai. She returned to Swissquote Bank as a Senior Analyst in 2020. #swissquote #megatrend #themestrading #inflation #sustainability #decarbonisation #investing #investingtips #metaverse #cybersecurity #chinastocks _____ Themes Trading is a product issued by Swissquote Bank SA based in Switzerland and regulated by FINMA. _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars, and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
The Bitcoin Fall Will Likely Continue In The Future

The Downward Trend For Bitcoin Remains In Place

Marek Petkovich Marek Petkovich 23.12.2022 13:17
Risky assets, including Bitcoin, really wanted a holiday for Christmas, but it looks like Santa Claus isn't going to give them gifts this year—BTCUSD has not gone far from its two-year low in November. The pair have lost two-thirds of its value since the beginning of the year amid tightening monetary policy by the Federal Reserve, the collapse of the Terra/Luna ecosystem and the bankruptcies of hedge fund Three Arrows Capital and the FTX exchange. Will the cryptocurrency leader be able to recover in 2023? Or will the decline into the abyss continue? According to Fairlead Strategies, the inability of Bitcoin to cling to important levels in the 17,000–18,000 range indicates the bulls' weakness. The company expects quotes to fall to 15,600 in the coming weeks and 13,900 in the medium term. Standard Chartered issues a shocking forecast for BTCUSD to fall to 5,000. Not only will the crypto winter not end, but it will gain momentum. In fact, to clarify the fate of the leader of the cryptocurrency sector, you need to look at the U.S. stock market. Yes, their paths in 2022 diverged from time to time. However, this is related to the news from the world of the crypto industry and is normal. Assets of the same class move in sync most of the time, but can move in opposite directions if unique drivers emerge. But discrepancies are usually temporary. Bitcoin and S&P 500 Dynamics Bitcoin is a risky asset, and the wind for risky assets is created by stock indices. Their outlook remains rather bearish. The Fed continues to raise the federal funds rate, the U.S. economy is losing steam, and corporate profits are deteriorating. All this suggests that, at least in the first quarter, the S&P 500 and the like will remain under pressure. In the meantime, the stock market has retained the old patterns. For most of the second half of the year, it fell on good news about the U.S. economy and rose on bad news. In the latter case, investors believed that the approaching recession would force the Fed to slow down its tightening of monetary policy, if not stop it altogether. That is why the broad stock index fell in response to better-than-expected jobless claims and an upward revision of U.S. GDP for July–September to 3.2%. The S&P 500 fell, and so did Bitcoin. In my opinion, their close interaction will continue in 2023. However, there are still a few days left until the end of 2022, which can bring with them the Christmas Rally. Usually in December, the broad stock index has risen by an average of 1.5% since 1950. Now it has collapsed by 5%. If Santa Claus gets down to business, as before, BTCUSD quotes can rise. Technically, the downward trend for BTCUSD remains in place. The strategy of sales from 18,000 announced in previous materials with profit taking at the level of 16,500 worked out with a bang. The inability of Bitcoin to overcome the resistances at 17,200 and 17,400 is a reason for the formation of shorts. Relevance up to 08:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330636
Technical Outlook Of The Further Movement Of Bitcoin

Japan's New Stablecoin Regulations Is Allowing The Distribution

Sebastian Seliga Sebastian Seliga 27.12.2022 08:37
Crypto Industry News: Japanese regulators are rethinking some cryptocurrency restrictions. This time it's about those related to the use of stablecoins, such as Tether The Japanese Financial Services Agency (FSA) will lift the ban on the domestic distribution of foreign-issued stablecoins in 2023, the Nikkei news agency reported. "Japan's new stablecoin regulations will allow local exchanges to support stablecoin trading, subject to asset preservation through deposits and a cap on remittances. If stablecoin payments spread, international remittances could become faster and cheaper," the report said. Allowing the distribution of stablecoins in Japan will also require more anti-money laundering control regulations, the FSA noted. On Monday, the Office began collecting opinions on the proposal to lift the ban on stablecoins in Japan. As previously reported, the Japanese parliament passed a law prohibiting the issuance of stablecoins by non-bank institutions in June 2022. The latest change will have a significant impact on cryptocurrency trading services offered in Japan. Currently, no local exchange offers trading in stablecoins such as USDT or USDC. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 07:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306401
Residents Of Brazil Will Not Be Able To Use Cryptocurrencies As Legal Tender

Residents Of Brazil Will Not Be Able To Use Cryptocurrencies As Legal Tender

Sebastian Seliga Sebastian Seliga 27.12.2022 08:41
Crypto Industry News: Jair Bolsonaro, Brazil's president, who is due to leave office on December 31, has signed a bill to legalize the use of cryptocurrencies as a payment method in the country. In a December 22 publication of the official journal of the Federal Government of Brazil, Bolsonaro's office reported that the president had signed Law 14,478 after being approved by the Chamber of Deputies. The Legislature sent the bill to the president's desk on November 29 as the final step to recognize crypto payments. Under the bill, residents of Brazil will not be able to use cryptocurrencies such as Bitcoin as legal tender in the country, as is the case in El Salvador. However, the newly passed law includes many digital currencies as part of the definition of legal payment methods in Brazil. It also establishes a licensing system for virtual asset service providers and sets out penalties for fraud with digital assets. Bolsonaro's announcement did not suggest which federal agency might be responsible for overseeing crypto payments. However, as in the United States, digital assets considered securities fall under the regulatory umbrella of the Brazilian Securities and Exchange Commission. The law also included provisions, likely introduced in response to FTX's demise, requiring exchanges to distinguish between user and company assets. The cryptocurrency law will come into force in 180 days, probably in June 2023. Bolsonaro is expected to leave office in a few days, after which Luiz Inacio Lula da Silva will assume the presidency on January 1. Luiz was the president of Brazil from 2003 to 2010 and has previously spoken out in favor of cryptocurrency and blockchain adoption. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited. The key short-term technical support is seen at the level of $1,150. On the higher time frame, like weekly, there is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 07:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306402
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

If Bankman-Fried Decided To Leave The Country, He Will Pay The Court $250 Million

InstaForex Analysis InstaForex Analysis 27.12.2022 08:51
Last week, news organizations from all over the world reported that FTX Bankman-Fried, the company's founder, would be released from jail after posting a sizable bail of $250 million. The largest pretrial bail, according to Assistant US Attorney Nicholas Roos, was set in court. However, it was discovered that there is not a single genuine penny in this $250,000,000; Fried was released from prison without making a single payment. Experts claim that the guarantor typically charges between 10% and 15% of the total amount in cash for the release of collateral in a federal case. 15% of $250 million, in the case of the enormous Bankman-Fried sum, is $37.5 million. However, Bankman-Fried made no bail payment at all. A second method of receiving a deposit exists. The full amount of the deposit may be put down by the defendant or someone acting on his behalf. The mortgaged property then appears in court if the defendant doesn't show up. In Bankman-Fried's situation, this would entail the need for a guarantor who would mortgage the property for a sum of $250 million. But neither of those things happened. Instead, Bankman-Fried's parents agreed to put their Palo Alto, California, house (where he will also be placed under house arrest) up as collateral. Rumor has it that a Palo Alto home is only worth $4 million. And for a $250 million guarantee, the entire amount of collateral promised was this. There is no additional collateral pledged or placed. So where did the $250 million figure come from? Great inquiry. Bankman-Fried was merely released from custody with his parents' guarantee. A solemn promise by Bankman-Fried to pay the court $250 million if he fails to show up for court at the scheduled time is included in his bail, along with a similar promise by his parents. Bankman-Fried signed a document promising to pay the court $250 million if he decided to leave the country, so it turns out that he left the court essentially free. The prosecutor's office tried to portray this as a very onerous bail condition, which was absurd, but the millions of customers Bankman-Fried duped are not laughing. While he awaits trial in the case involving his collapsed cryptocurrency empire, the former FTX CEO is also prohibited from opening any new credit lines with a value greater than $1,000. For a man who once oversaw a $32 billion crypto empire, Bankman-Fried has previously claimed that his wealth has fallen to just $100,000. Regarding the technical picture of bitcoin today, everything came to a complete stop after it bounced off the crucial level of $16,600. The resistance of $17,400 restricts growth. However, in the event of renewed pressure, the focus will be on safeguarding exactly $16,600, as a breach by the sellers would deal the asset a relatively serious blow. The pressure on bitcoin will increase as a result, creating a direct route to $15,560 and $14,650. The world's first cryptocurrency will "drop" between $14,370 and $13,950 when these levels break. Only after bitcoin has been released above $ 17,460 can the discussion turn to restoring equilibrium and ending the "panic" mode. Breaking through this region will cause it to retrace to a significant resistance at $18,101 and provide an opening for a test of $18,720. The breakdown of the nearest resistance at $1,344 is what ether buyers are concentrating on. This will be sufficient to cause substantial market changes and halt a new bearish wave. Fixing the rate above $1,344 will diffuse the situation and put the remaining funds back into the ether with the possibility of a correction in the hope of raising the maximum to $1,466. The more distant target will be the $1,571 region. The $1,073 level, which was recently formed, will come into play when the pressure on the trading instrument resumes and the $1,198 level of support breaks. Its innovation will raise the trading instrument's price to at least $999. For those who own cryptocurrencies, it will be very painful below $934 and $876. Relevance up to 05:00 2022-12-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330828
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin Has Not Evolved Into A Way To Protect Against Inflation

Paolo Greco Paolo Greco 28.12.2022 08:20
The price of the bitcoin cryptocurrency remains unchanged and is currently below the $18,500 mark. Remember that this is the exact scenario that we have discussed numerous times, so everything is now going as expected. The "bitcoin" may currently remain in the flat position for a few weeks or months, but eventually, we anticipate it to drop at least to the level of $12,426. Just yesterday, we were talking about how bitcoin proponents were attacked rather "harshly" by billionaire Mark Cuban, who claimed that bitcoin is much better than gold. But, you know, if we had to choose between Cuban, who is a bitcoin investor himself, and a sizable organization like JP Morgan, we'd go with the latter. Additionally, according to JP Morgan's experts, the majority of institutional investors do not even recognize bitcoin as an asset class. Due to high volatility and a lack of internal profitability, which could be reflected in the reports and thereby justify the investment, they are not likely to invest in it anytime soon. According to JP Morgan, Bitcoin has not evolved into "digital gold" or a way to protect against inflation. We can also speak for ourselves when we say that bitcoin is not an analog of money, a replacement for money, or a substitute for cross-border payments. We can only conclude that it is still a high-risk, extremely volatile investment instrument after 15 years of its existence. This choice is suitable for some investors, so they purchase cryptocurrency. Two very crucial factors were already brought to the traders' attention earlier on. First, why isn't bitcoin increasing if it has reached the "bottom"? Remember that every major trend eventually shifts sharply and strongly in the opposite direction as market players start to close a large number of profitable transactions. It is also true in the case of bitcoin that many people would like to purchase it at the current "very low" price levels. But for some reason, nobody is pressing to make a purchase. The second is that almost no market participants are prepared to invest in it because they anticipate an even bigger fall because the fundamental background for "bitcoin" is still very difficult. Why buy bitcoin now if almost everyone (aside from Michael Saylor) is anticipating a new decline in its price? Therefore, we still anticipate it to drop to the $12,426 minimum. According to many experts, it is quite capable of demonstrating movement up to $5,000 per coin. The "bitcoin" quotes over the past 24 hours have remained below the level of $18,500. From our perspective, the future decline may continue, with a target of $12,426. This might not occur soon enough, though, as each new collapse was followed by a flat period, which we are currently experiencing. This does not, however, indicate that the bearish trend is over.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330911
The G20 And IMF Are Already Preparing Their Crypto Regulation

The Crypto Industry Will Need Some Time To Fully Recover From The Collapse

Paolo Greco Paolo Greco 28.12.2022 08:25
On the 4-hour TF, it is evident that bitcoin has deviated below the ascending trend line, but overall, since the most recent collapse, it has been mostly moving sideways, which is exactly what we anticipated. Remember that the "collapse-flat-collapse" trading strategy will be used in 2022 when bitcoin is traded. As a result, despite crossing over the trend line, a long flat can now be seen. There are additional unfavorable projections from reputable market participants in addition to the statements made by JP Morgan, which we discussed in the previous article. Remember that individuals like Mark Cuban have a personal stake in the success of the first cryptocurrency ever created, so it stands to reason that they will exert every effort to increase demand. The rise in demand for bitcoin will determine how much it grows in the future. No demand, no expansion. Kuban's viewpoint is therefore undoubtedly very interesting, but we have grown accustomed to bitcoin owners only predicting the currency's future growth. I have a valid concern: why would Cuban and others advise someone to purchase a good that will "unquestionably increase in value"? Wouldn't it be simpler and better to purchase every coin available yourself to make the most money later? The truth is that for bitcoin to experience explosive growth, as many investors as possible should purchase it. Now, nobody wants to purchase it. The crypto industry will need some time to fully recover from the collapse of the FTX exchange, according to the analytical firm CryptoCompare. The company's experts also claimed that numerous other businesses were linked to the bankrupt exchange through loans and the FTT token, which is now, of course, worthless. As a result, CryptoCompare concludes that there may be new bankruptcies in 2023. Additional failures of significant market participants might cause "bitcoin" and other cryptocurrencies to fall even further. Therefore, even the internal fundamental background does not justify purchasing bitcoin. This is in addition to the general fundamental background that is currently working against cryptocurrencies in the face of the Fed and other Central Banks. The decline, in our opinion, will eventually continue. Anyhow, there isn't even a single buy signal at the moment. The first cryptocurrency ever traded with very little volatility and only moved sideways over the past few days. The quotes for "bitcoin" very quickly completed the formation of an upward trend on the 4-hour time frame and consolidated below the trend line. As a result, we are currently anticipating a new cryptocurrency drop with a target of $12,426. It might take place right now or in a few months. There are still no indications that bitcoin will experience rapid growth in the near future.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/330915
Sber And First Issue Of Gold-Backed Digital Financial Assets

Sber And First Issue Of Gold-Backed Digital Financial Assets

Sebastian Seliga Sebastian Seliga 28.12.2022 10:29
Crypto Industry News: Russia's largest bank, Sber (formerly known as Sberbank), has announced its first issue of gold-backed digital financial assets. The bank considers DFA to be a "great alternative" to investing in a de-dollarization environment. On December 26, Sber posted the news of its first gold-backed DFA release. The retailer and producer of metals, Solfer, became the first investor to acquire the issued assets. Gold-backed DFAs represent attesting monetary rights whose price and volume depend on gold prices. According to the legal documentation of the issue, the bank will provide potential investors with up to 150,000 DFA to purchase. The assets will be available for purchase until July 30, 2023. The document mentions "high risk" for investors rooted in these types of assets, including "risk of illiquidity". The current DFA legislation came into effect in 2020. In July 2022, Russian President Vladimir Putin signed a law banning digital financial assets as a payment method. In June, a subsidiary of another Russian state-owned bank, VTB Factoring, reported its first major transaction in digital financial assets. As part of the transaction, the bank's subsidiary acquired a tokenized debt pool of engineering company Metrowagonmash, issued via the Lighthouse fintech platform. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2022-12-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306567
The Crude Oil Market Situation Is Stable Despite Russia's Production Cuts

Russia Responded To The Europeans' Price Cap, China Reopening Story Is Not All Rosy!

Swissquote Bank Swissquote Bank 28.12.2022 10:24
Yesterday, Russia finally responded to the EU’s price cap on its oil exports, saying that they will simply stop exporting their oil to parties that ‘directly or indirectly use the mechanism of setting a price cap’. Crude Oil The latter announcement gave a minor boost to crude oil yesterday, but the barrel of American crude remained offered into the 50-DMA, near $81.60pb, and the price is back below the $80pb this morning. BUT, an eventual decrease in Russian oil supply gives support to the oil bulls’ in the medium run, along with other factors as China reopening and cold winter in America. China reopening news IMPORTANT to note: If the Chinese reopening story is positive for oil and commodity prices - and for the massively battered Chinese stocks, it’s bad news for global inflation. This is why we don’t see the US stocks gain on China reopening news, but we rather see them under a decent pressure, as the surge in Chinese demand will certainly boost inflation through higher energy and commodity prices. Inflation And in response to higher inflation, the central banks will continue hiking rates. As a result, the sovereign bond yields are higher, the stocks are lower, while the US dollar is mixed. Apple And Tesla Apple is down to lowest levels since summer 2021, and Tesla’s deep dive deepens by the day. Watch the full episode to find out more! 0:00 Intro 0:44 Russians won't sell oil to parties involved in price cap 3:32 China reopening story is not all rosy! 6:03 Bitcoin hash rate rings alarm bell 7:30 Tesla races to the bottom Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Russia #oil #ban #China #Covid #reopening #crudeoil #rally #inflation #expectations #USD #EUR #AUD #XAU #Bitcoin #Apple #Amazon #Tesla #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH  
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Big Institutional Investors Continue To Largely Stay Away From The Crypto

Sebastian Seliga Sebastian Seliga 28.12.2022 10:42
Crypto Industry News: Big institutional investors continue to largely stay away from the crypto market as asset class volatility challenges money managers, Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management, said in an interview: "As an asset class, cryptocurrencies are virtually non-existent for most large institutional investors. [...] Volatility is too high, no internal return to point to makes it very difficult," noted Gross. Gross believes that most institutional investors "breathed a sigh of relief that they did not jump into this market", which is unlikely to happen in the near future. The bear market also put an end to the idea that Bitcoin could be a form of digital gold or serve as a hedge against inflation, Gross noted, stating that it is obvious that this is not the case. The year coming to an end was a period of dramatic declines in the cryptocurrency market. Bitcoin fell from $47,700 in January to below $17,000 at the end of December, while Ethereum fell from $3,700 to $1,200 over the same period, and the total cryptocurrency market capitalization fell from $2.2 trillion to nearly $810 billion. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited., nevertheless the key short-term technical support is seen at the level of $1,150 and if the level of $1,183 is broken, this will be the next target for bears. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2022-12-29 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306569
In The Coming Days Will Be The Final Consolidation Of Bitcoin

The Bitcoin (BTC/USD Pair) Had Made A Local High

Sebastian Seliga Sebastian Seliga 29.12.2022 10:27
Crypto Industry News: According to the latest news from Reuters, FTX and some of its former officers were indicted in a class action lawsuit on December 28. They demand a statement that FTX shares are not owned by the company. The same applies to identifiable customer assets held with Alameda. The lawsuit, which was filed in a Delaware court, mentioned that the now-defunct exchange was "committed to segregating customer accounts." At the same time, it noted that it enabled their "misappropriation", adding that customers should be paid first. The lawsuit reads: "Customers should not be lining up with secured or unsecured creditors in insolvency proceedings only to share the reduced assets of the FTX Group and Alameda." The lawsuit seeks to represent over 1 million FTX customers in the US and abroad. It also seeks a court ruling that funds held in the accounts of the American subsidiary of the cryptocurrency exchange FTX.US, as well as in FTX Trading accounts or other identifiable customer assets, are not the property of the company. If the court concludes that the property in question belongs to FTX, clients seek a judgment that gives them priority over paying creditors. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306733
According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

According To Dmitry Medvedev, Cryptocurrencies Will Gain In Importance

Sebastian Seliga Sebastian Seliga 29.12.2022 10:30
Crypto Industry News: Dmitry Medvedev, one of Russia's most important politicians, believes that the traditional fiats - the US dollar and the Euro - will lose their importance. The reverse process will take place in the case of digital currencies. Dmitry Medvedev - a Russian politician who was the country's president in 2008-2012 - believes that the International Monetary Fund (IMF) and the World Bank may collapse in 2023. He suggested that such events could reduce the impact of the Euro and dollar and increase the use of digital currencies. Tron founder Justin Sun agreed with Medvedev's "revelatory comment". He also maintains that China's cryptocurrency adoption is gradually increasing and that "the best is yet to come." Medvedev also claims that the Bretton Woods system, which is the foundation of US power, may eventually be destroyed. "The Bretton Woods money management system will collapse, leading to the collapse of the IMF and the World Bank. The Euro and dollar will cease to circulate as global reserve currencies. Digital fiat currencies will be used instead," he said. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited., nevertheless the key short-term technical support is seen at the level of $1,150 and if the level of $1,183 is broken, this will be the next target for bears. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Read next: The US Will Require PCR Testing For Travelers From China, BRF Agree To Pay $111 Million To The Government| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2022-12-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306735
The Commodities: In The Near Term The Oil Market Remains Relatively Well Supplied

Oil Prices Are Falling, Markets Have Been Volatile Over The Last Few Weeks And There Are No Signs Of A Change Next Year

Craig Erlam Craig Erlam 29.12.2022 13:58
We continue to drift into year-end with investors having little to cling onto that’s going to drive markets one way or another. That is so often the case this time of year and while 2022 could have been different, given how chaotic the rest of the year has been, it has proven to not be the case. Investors are going into 2023 with a cautious mindset, prepared for more rate hikes, and expecting recessions around the globe. The bar is low but arguably reasonably so. While markets have remained choppy over the last couple of weeks, we haven’t seen any major developments that have changed the narrative at all going into next year. Well, perhaps ex-Japan where the central bank’s policy tweak may embolden those wanting to take it on more forcefully in the months ahead. Elsewhere, the focus will remain on terminal rates and just how forceful central banks will be in their bid to defeat inflation. The Fed in particular has remained very bullish on its rate intentions, so much so that it may have spooked investors a little at this month’s meeting. But that could quickly change in Q1 if the data allows. And then there’s China and its u-turn on Covid prevention. It’s been quite the shift from fighting every case to living with the virus and that creates enormous uncertainty for the start of the year as case numbers surge and the health system is overwhelmed. How the leadership will respond is about as clear as the data itself so for investors it will be a case of learning as we go using what little data and anecdotal evidence we have. That creates challenges domestically and in all likelihood globally as well. Paring gains again Oil prices are dropping for a second day, erasing some more of the pre-Christmas rally amid uncertainty over the Chinese outlook and the limited impact of Russia’s response to the G7 price cap. Volatility is likely going nowhere fast as we navigate another highly uncertain year, albeit one that surely promises plenty of surprises and twists and turns along the way. The US refilling the SPR should be supportive for the market and could have put a bit of a floor in place, although with so many moving parts, I don’t think anyone can say anything with any strong degree of conviction. OPEC+ could make an announcement at any point and suddenly everything changes. Not to mention Russia’s war in Ukraine and how that develops. Read next: EUR/USD Pair Remains Within Its Horizontal Trading Range, The Aussie Failed To Break The Resistance At 0.68| FXMAG.COM Settling around $1,800 Gold is continuing to hover around $1,800 where it has traded roughly $30 on either side throughout the bulk of December. It seems gold traders, like the rest of us, have an idea of what the Fed will do early next year but are holding back as it doesn’t quite align with the hawkish narrative coming from the central bank. Patience may well be key on that front but with momentum running thin, the prospect of a correction is growing. More twists and turns ahead Bitcoin continues to happily tread water and watch the storm pass as it fluctuates in a range of around $16,000-$17,000. That’s broadly been the case over the last couple of weeks and it doesn’t look like changing in the coming days, barring any unexpected headlines. The question for many now is whether it has bottomed and how long it will take confidence to return, enabling a strong recovery. I’m not convinced by either in the near term and think there are plenty more twists and turns to come early next year. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
In Crypto, You Could Prove You Own A Private Key Without Revealing It

So-Called "Information Noise" Affects The Cryptocurrency Market

XTB Team XTB Team 29.12.2022 14:23
What affects the price of cryptocurrencies? Over the past years, the digital currency market has gathered a multi-million-strong community among others from traders, speculators and investment funds. This was mainly due to high volatility of those assets whose price movements are very dynamic and create potential earning potential. Beginner investors should pay attention to the price when starting cryptocurrency trading Bitcoin, trying to interpret it in the context of macroeconomic, market and political. This is due to the fact that the entry of large institutions and companies, such as GrayScale or Tesla, most likely ended the period in which cryptocurrency prices moved in a manner uncorrelated with the traditional stock exchange. Vitalik Buterin, the creator of the second most popular cryptocurrency - Ethereum, recently returned attention to the fact that the price of Bitcoin moves in a way that is strongly correlated with the index US tech companies on NASDAQ. This is an important aspect because the price Bitcoin is treated as an indicator of the condition of the entire crypto market, where a large price drop the oldest of the cryptocurrencies most often also causes drops in other coins. All that creates a system of connected vessels - from the "classic" exchange to the latest "altcoins", that's why it is important to keep up to date with important economic events. Other factors that have a significant impact on the price of cryptocurrencies include: Information on market entry or exit by large institutions and companies Actions taken by the largest Bitcoin holders - the so-called “whales” A growing market for Metaverse concepts Information on the further adoption of blockchain technology It is also worth noting that the cryptocurrency market is highly susceptible to the so-called "information noise", occurring most often in social media, where individual entries are known people have already had a significant influence on the formation of prices largest cryptocurrencies. A perfect example here is the case of Elon Musk, whose tweet about him considering withdrawing Bitcoin as accepted by The Tesla of the means of payment was caused by a several percent drop in the valuation of this currency. By trading on the XTB trading platform, the investor gains access to tools enabling monitoring of the current market situation, e.g. for news and analysis prepared by a team of professional Analysts. At the same time, built in platform, advanced technical analysis tools allow you to interpret movements prices and their assessment at every stage of the investment process.
There Are Many Ways To Join A Crypto Community

The Advantages Of Cryptocurrency CFDs Trading

XTB Team XTB Team 29.12.2022 11:59
Investing in Cryptocurrency CFDs An interesting alternative to trading on cryptocurrency exchanges are trading platforms regulated brokers such as XTB. The XTB investment platform allows you to buy and sell CFDs (“Contact For Difference”), i.e. contracts on exchange rate difference - derivatives that allow you to speculate on the price, e.g. cryptocurrencies. A characteristic feature of CFDs is leverage, which allows you to engage only part of the capital that would be needed to carry out a traditional investment. Leverage at XTB for cryptocurrency CFDs it is 1:2, which means that the investor only needs 50% transaction value to place an order. However, keep in mind that trading with leverage involves additional investment risk. One of the advantages of trading derivatives such as CFDs is also the opportunity investing in inheritance, i.e. taking the so-called short investment position. That is, the investor can look for investment opportunities and earn not only when prices are rising, but also when they fall, which makes trading more flexible. In investments, not only in cryptocurrencies, one of the key aspects is behavior liquidity of funds on the investment account, i.e. the possibility of convenient and quick deposits, and payments. XTB has several payment methods, e.g. payments by credit card, BLIK, PayPal. In at any time, you can quickly and conveniently order a withdrawal of funds that are safe and direct arrive in the investor's bank account, often the same day. The activity of XTB is regulated by law and is supervised by renowned institutions such as ESMA, FCA or the Polish Financial Supervision Authority. XTB client funds are kept in segregated depositories accounts, which means they are separated from the company's funds, and the company is also subject to the funds guarantee company, such as KDPW. The last factor that distinguishes the XTB trading platform from most exchanges cryptocurrency is the ability to open a free DEMO account that allows you to taking your first steps in investing without any risk. With his help you can verify the acquired knowledge in practice, learn how to use the platform, and check it using test "virtual funds" own investment strategies. Read next: The First Technical Problems Of Twitter Under The Leadership Of Elon Musk,, Tesla Shares Worst Of The Year| FXMAG.COM  Just like any economic activity, investing in the markets is a necessity tax settlement for the transactions carried out. Tax issues can However, sometimes they can be very complicated, which is why at XTB we offer assistance in annual settlements tax, providing all investors with a completed PIT-8C, along with the settlement all transactions carried out. However, CFD trading is not for everyone. Please note that this is a derivative based on the price of the underlying asset, so when trading CFDs we do not become the owner of the cryptocurrency, and we only speculate on the change in its price. Moreover, the specifics CFDs are more conducive to short-term investment as holding open positions incur daily fees. Advantages: Investment security resulting from the supervision of renowned regulators Subject to guarantee funds Fast and convenient deposits and withdrawals Possibility of entering into short positions - investing in price declines Free demo account to help you get started without risk Assistance in the annual tax settlement Disadvantages: You do not become the owner of cryptocurrencies, you only speculate on price changes The specificity of CFD instruments is not conducive to long-term investments Offer limited to the 20 most popular cryptocurrencies Read next: So-Called "Information Noise" Affects The Cryptocurrency Market| FXMAG.COM
Bitcoin Is Again In The Framework Of A Strong Downward Movement

Forms Of Investing In Cryptocurrencies And Taking Advantage Of The Opportunities They Create

XTB Team XTB Team 29.12.2022 11:57
Ways to invest in cryptocurrencies Despite a number of practical applications, cryptocurrencies became famous mainly as assets investments with above-average price volatility, which still attracts crowds of newcomers to them investors. There are many forms of investing in cryptocurrencies and taking advantage of the opportunities they create unusual price volatility. In this report, we will focus on a brief description and comparison two probably the most popular of them: trading on cryptocurrency exchanges and CFDs available e.g. at XTB. Cryptocurrency trading on exchanges One of the main forms of investing in cryptocurrencies is their purchase on cryptocurrency exchanges, where you can buy and sell tokens directly on the market. One of the strengths exchanges is their wide offer - the investor gains access to hundreds of digital currencies in one place. By making a purchase transaction on the exchange, you become the owner of a given cryptocurrency, and the purchased one assets are deposited in your exchange portfolio. An additional advantage of investing in some exchanges it is possible to exchange different tokens with each other, which is significant streamlines trade and allows you to react quickly to changes on the market. On the other hand, cryptocurrency exchanges usually do not have external authorities supervisors who regulate their safety. Moreover, unlike supervised financial institutions, they are not members of guarantee funds, which are a guarantor of the recovery of all or part of investors' funds or assets, in the event of collapse of such an institution. The unclear regulatory situation of cryptocurrency exchanges also results in problems with deposits and withdrawals of funds from accounts held on them - they may be retained and subjected to detailed control or not be accepted by the bank at all. Also, many exchanges still fail allows the withdrawal of the equivalent of accumulated funds in fiat currency, offering only the ability to transfer your cryptocurrencies to another virtual wallet. Unfortunately, history also shows that stock exchanges are not always a safe place to be storage of owned tokens - many exchanges have already fallen victim to hacker attacks or after it simply disappeared from the market along with its users' tokens. One of the biggest attacks hackers in terms of the amount of stolen Bitcoins is the 2014 attack on the largest then the stock exchange - Mt. Gox. Its users then lost over 850,000 Bitcoins worth then almost USD 500 million. If the theft happened today, the value of the stolen BTC would exceed USD 34 billion. There has been another heinous theft recently. Hackers exploited a vulnerability in Ronin digital wallet software - allowing users to exchange cryptocurrencies used within various blockchain networks. They were stolen Ethereum cryptocurrencies and USD Coin worth over $600 million! worth It is worth noting that the creators of this wallet detected the hacking attack only 5 days after it made. Advantages A very wide offer and a large selection of tokens Possibility to buy cryptocurrencies and accumulate them in the wallet Ease of exchanging one cryptocurrency for another Disadvantages: In the vast majority of cases, there are no external supervisory institutions No external funds guaranteeing the recovery of tokens or funds in the event of the collapse of the stock exchange Emerging problems with deposits and withdrawals High risk of hacker attacks Read next: The Advantages Of Cryptocurrency CFDs Trading| FXMAG.COM
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The Bitcoin Market Has Peaked Supply With A Loss Of Around 55%

Sebastian Seliga Sebastian Seliga 30.12.2022 09:47
Crypto Industry News: According to CryptoQuant data published at the end of the year, the "supply in loss" is an indicator that measures the percentage of the total supply of bitcoin in circulation that is currently loss making. The metric works with the chain history of each circulating coin to see what price it was last traded at. If that previous value of any coin was higher than the last BTC price, then that coin is currently losing money, which is taken into account by the indicator. The relevant indicator is "supply in profit", and its value can be derived from "supply in loss", subtracting it from 100. The Bitcoin supply loss increased as the bear market extended. In the current BTC cycle, the market has peaked supply with a loss of around 55%, which is equivalent to most coins in circulation. The chart shows that the indicator also saw an uptrend as the 2018-2019 bear market continued and peaked above 60% when the BTC price also bottomed out. Also in the COVID "black swan" crisis in 2020, the supply of losses reached high values and touched the same level of 60%. Of course, despite all the steep price drops (in particular, the collapse of LUNA, the bankruptcy of 3AC, and the recent FTX crash), the indicator ends 2022 without reaching such heights. If the current cycle follows the same pattern making a bottom around 60%, then there is still some time to reach the indicator. And the only way an even greater supply would go into a loss state is if the price falls further. This means that 2023 will bring more problems for Bitcoin investors. Technical Market Outlook: The BTC/USD pair had made a local high at the level of $17,055 in form of a Pin Bar candlestick pattern on H4 time frame chart and local low at the level of $16,271. The market keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Weekly Pivot Points: WR3 - $17,153 WR2 - $16,998 WR1 - $16,916 Weekly Pivot - $16,845 WS1 - $16,746 WS2 - $16,688 WS3 - $16,533 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306857
An Investigation Against Terraform Labs In Singapore

The Microstrategy Company Sold A Batch Of BTC For The First Time

Sebastian Seliga Sebastian Seliga 30.12.2022 09:51
Crypto Industry News: Microstrategy currently holds approximately 132,500 bitcoins. In December, the company bought another batch of cryptocurrencies. At the same time, however, it turned out that it had sold some digital assets for the first time. Michael Saylor, founder and CEO of the company, tweeted: "MicroStrategy has increased its bitcoin holdings by approximately 2,500 BTC. As of 12/27/22, MicroStrategy has approximately 132,500 bitcoins purchased for approximately $4.03 billion at an average price of approximately $30,397 per bitcoin." In its filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy explained that 2,500 coins were acquired between November 1 and December 24 by its subsidiary Macrostrategy. The subsidiary purchased approximately 2,395 BTC at an average price of $17,871 per coin. This happened between November 1 and December 21. She then sold around 704 BTC at $16,776 per BTC (this happened on December 22). On December 24, she bought around 810 BTC at $16,845 a coin. It is worth noting that the company sold a batch of BTC for the first time. However, it is not about exiting the market, but about "generating tax benefits". Everything is to be based on "current federal income tax rules." Michael Saylor, the company's founder, said in an interview last week that "the most positive thing this year" is that bitcoin has been recognized as an "institutional grade digital asset." Added to this is "the clarity that there is one cryptocurrency asset that is a digital commodity." He noted that both the SEC chairman and the chairman of the Commodity Futures Trading Commission (CFTC) have confirmed that bitcoin is a commodity. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level, consolidating the recent gains and testing the intraday supports seen at $1,180. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The intraday volatility is very limited., nevertheless the key short-term technical support is seen at the level of $1,150 and if the level of $1,183 is broken, this will be the next target for bears. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,240 WR1 - $1,230 Weekly Pivot - $1,221 WS1 - $1,212 WS2 - $1,201 WS3 - $1,184 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2022-12-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306859
Technical Outlook Of The Further Movement Of Bitcoin

Bitcoin And Ether Have Not Shown Signs Of A Trend Reversal

ByBit Analysis ByBit Analysis 30.12.2022 13:49
Macro and Overall Risk Sentiment In a week without major economic data releases, the outlook for U.S. equities remains dim as concerns over a possible recession in 2023 and declining earning projections from major index heavyweights dampened investors’ sentiment. It’s noteworthy that the focus in the mainstream media has shifted from inflation worries to recession woes.  Interestingly, the broader cryptocurrency market has experienced extraordinarily low volatility as equities experience large price swings, with BTCUSDT and ETHUSDT pairs ending the week with decreases of 1.3% and 1.7%, respectively.   Learn more on Binance.com BTCUSDT Perpetual Bitcoin broke down from a consolidation channel that has formed since November and has since moved in a narrow range between $16.5k and $17k. A bearish pennant, which features a shoot-down followed by an ascending triangle, has been forming after the breakdown. However, there are still bright spots indicating that a downside is limited as professional traders have turned cautiously optimistic. With open interests in terms of BTC at a stable level, the funding rate weighted by open interests has persistently remained positive, indicating an absence of widespread bearish bets on the largest cryptocurrency. Furthermore, the daily basis between the BTC spot and the nearest quarterly futures has flipped to positive, changing from a deep backwardation to a contango, painting a positive near-term picture. The long-short ratio of top trader accounts in centralized exchanges showed the bull has persistently taken the upper hand, suggesting an improved trader sentiment.  Check Out the Latest Prices, Charts, and Data for BTCUSDT! ETHUSDT Perpetual A downward trend has been observed in Ether’s 4-hour chart, facing an immediate resistance level at a 20-day EMA of $1,218. From the technical point of view, RSI remained within a neutral area on the daily chart and the Average Directional Movement Index, a technical indicator that measures the overall strength of a trend, remained below 20 in the past week, indicating a lack of direction in the market.  The bright spots are a stable and positive reading of the perpetual funding rate, while the daily basis of Ether between spots and the nearest quarterly futures is close to the neutral level in centralized exchanges. Similar to BTC, Ether has not shown signs of a trend reversal, but the downside may be limited.  Check Out the Latest Prices, Charts, and Data for ETHUSDT! Market Movers (Week-on-Week) BITUSDT (+16.5%) LDOUSDT (+7.2%) ICPUSDT (+5.6%) XCNUSDT (-32.9%) LPTUSDT (-21.7%) WAVESUSDT (-20.2%) New Derivatives Listings — What’s New on Bybit? Trade with up to 25x leverage on our new trading pairs: MAGICUSDT BTCUSD0630 ETHUSD0630 Source: Bybit Blog | Market Turns Cautiously Optimistic After BTC and ETH’s Breakdowns
Crude Oil Upward Trend Remains Limited

Prices Of Energy Resources In Europe Have Already Started To Fall, The Picture Of Forex And Crypto Market

XTB Team XTB Team 30.12.2022 14:36
Energy resources: OIL, NATGAS The entire world is heavily dependent on conventional energy sources such as oil petroleum, natural gas or coal, so there is a clear connection between the raw materials energy and inflation. When prices move moderately, producers do not they change react immediately because they can take advantage of economies of scale. The problem occurs in when the price increases several times and the producers' costs have to be passed on to consumers. As we mentioned earlier, the current situation is reminiscent of the 70s of the last century, when the energy crisis led to an inflationary spiral. As then, so now the supply of oil is strongly limited (initially artificially, and now due to problems in the supply chain and lack of appropriate investment in production capacity). It is true that the supply is slowly growing, but the demand recovers much faster, which has led to a huge increase in raw material prices. Oil and natural gas prices in Europe have already started to fall from near historic highs. The question, however, is whether the market is experiencing demand destruction? Stocks of raw materials are at exceptionally low levels, with no greater ones on the horizon investment in the extractive sector, and countries with spare production capacity will take advantage of the current high prices. Therefore, there is a risk of extending the period of highs prices, as it was in the 1970s and in 2011-2014. In addition, when we adjust oil prices for inflation, we can see that after the initial increase at the beginning in the 1970s, the valuation of this raw material remained at a high level until the early 1980s. It is another argument proving that without an adequate increase in supply, high oil prices can stay with us longer. Forex market: EURUSD, USDJPY The recent return of higher and volatile global price dynamics has triggered a surge exchange rate volatility and depreciation of the currencies of countries with the highest inflation rate. In In times of economic uncertainty, investors tend to turn to safe haven currencies (the so-called safe havens of the foreign exchange market), mainly the US dollar. Also and this time it was no different, and the dollar index rebounded from the June 2021 lows by over 20%. Meanwhile, the trade-weighted index (TWI) remains at elevated levels. This index, adjusted for inflation, measures the strength of the US dollar against the currencies of major partners of the United States. We see that the TWI REER USD index has strengthened significantly in recent years, which may indicate that the dollar is overvalued. When it comes to EURUSD, however, the situation is more complicated. In mid-July 2022 euros reached parity with the dollar, falling to its lowest level in 20 years. this fall it was triggered not only by the strength of the US currency, but also because of the crisis as a consequence of the war between Russia and Ukraine. High energy prices in Europe have worsened trading conditions in the euro area, leading to an even greater depreciation of the single currency. There is no indication that energy prices will fall in the near future, but if such a scenario materializes, the euro would have a chance to move away from the parity level. In the case of EURUSD, the market's attention is focused on the weakness of the euro, while in the case of USDJPY monetary policy sets the pace. Since the early 2000s, the Bank of Japan has pursued an ultra-loose policy monetary policy while controlling the bond yield curve. This has not changed even after inflation started to rise. Meanwhile, the Fed turned its stance 180 degrees to strangle inflation through aggressive interest rate hikes. The difference in bond yields is a key factor for this pair, even if the Bank of Japan decides to change its current policy. Cryptocurrencies: BITCOIN, ETHEREUM Cryptocurrencies are still a young asset class. The history of Bitcoin goes back a little over 10 years, a most of the remaining cryptocurrencies (so-called altcoins) were created after 2017, which is why the reactions of the cryptocurrency exchange rate to the increase in the level of inflation are not sufficiently known. from this Therefore, when trying to assess digital asset quotes, it is difficult to rely solely on on historical data. Due to the tendency of investors to buy cryptocurrencies as part of diversifying their exposure to traditional financial markets, as well as the involvement of institutions in this market, begins to be a visible correlation between the reactions of debt-financed companies and the price of Bitcoin. Movements Cryptocurrency rates in response to rising inflation are beginning to resemble stock market reactions, which based on historical data are a bit easier to track and analyze. As a rule, rising inflation is not conducive to the valuation of risky assets and becomes a disadvantage for them burden when central banks decide to tighten monetary policy. Rate hikes interest rates, difficulties in obtaining capital and the rising cost of living in a recessionary environment indicate a decrease in risk sentiment and decreases in the valuation of risky assets. having it in mind, the cryptocurrency market will not be helped by rising inflation, which prompts banks to raise Stop. Therefore, even if the trend of cryptocurrency adoption continues - and they are noticeable signals that this is the case - movements on the charts of individual cryptocurrencies may resemble those of US100, only on a larger scale. Five key facts about cryptocurrency adoption BlackRock creates a bitcoin trust fund for US investors institutional and begins cooperation with Coinbase JP Morgan creates an open living room inside the Decentraland metaverse and explores the possibilities blockchain technology Ethereum processed 1.45 million smart contracts in Q1 2022 vs. 1.16 million in Q4 2021 (up 25%) NFT popularity is growing: 7.84 million transactions in OpenSea in Q1 2022 vs. 4.85 million carried out in Q4 2021 (up 61.6%) 46 million Americans own Bitcoins and 1 billion people will use cryptocurrencies in over the next 4 years
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

El Salvador's President Decided To Install Over 200 Cryptocurrency ATMs To Make Bitcoin More Common In Use

Sebastian Seliga Sebastian Seliga 02.01.2023 10:13
Crypto Industry News: El Salvador, the first country to legalize Bitcoin, was pushed off the podium in terms of the total number of cryptocurrency ATM installations. This happened because Australia recorded 216 ATMs entering 2023. As part of El Salvador's push to establish Bitcoin as legal tender, President Nayib Bukele has decided to install more than 200 cryptocurrency ATMs across the country. The move made El Salvador the third largest cryptocurrency ATM center in the world. However, Spain and Australia have leapfrogged the Central American country's ATM count in 2022. In October 2022, the media reported that Spain had become the third largest crypto ATM hub after installing 215 ATMs. The country continued its installation activities and has 226 of these machines at the time of writing. El Salvador's position as the fourth largest cryptocurrency ATM hub was short-lived as Australia stepped up its efforts in the following months. In the last quarter of 2022, Australia deployed 99 cryptocurrency ATMs. As of January 1, 2023, Australia recorded 219 active ATMs, surpassing El Salvador by 7 ATMs. Australia represents 0.6% of global ATM installations and at this rate is well positioned to climb. The total number of such devices in the world is 38,602, of which 6,071 were installed in 2022 alone. Technical Market Outlook: The BTC/USD pair had keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the other hand, a breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Read next: Walmart Has Ambitions To Become An E-Commerce Leader| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term. Relevance up to 09:00 2023-01-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306988
The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

The Central Bank Of India Became The Most Vocal Critics Of The Cryptocurrency Industry

Sebastian Seliga Sebastian Seliga 02.01.2023 10:21
Crypto Industry News: Reserve Bank of India, India's central bank, announced on December 29 in its report that cryptocurrencies are highly volatile and show a high correlation with equities in a way that casts doubt on claims that virtual digital assets are an alternative source of value due to their alleged inflationary gains. India's central bank has warned that policymakers around the world are concerned that the cryptocurrency sector could become more aligned with mainstream finance and "divert attention away from traditional finance with a wider impact on the economy." The Central Bank of India is one of the most vocal critics of the cryptocurrency industry. Last week, RBI Governor Shaktikanta Das warned that private cryptocurrencies will cause another financial crisis if their use is not banned. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the positive territory. Read next: Walmart Has Ambitions To Become An E-Commerce Leader| FXMAG.COM Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-01-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/306990
DPX Token Registered A 24-Hour Return Of 11.11%

World of Women (Wow), The First Successful Women-led NFT Community Received Big Support

ByBit Analysis ByBit Analysis 02.01.2023 10:33
You may not have realized it, but female artists face relentless struggles in sharing their artwork with the world. Take a moment to think about the famous artists in the world. Leonardo da Vinci, Pablo Picasso, Claude Monet, and many more may easily come to mind. Did you notice, however, they were all men? Large traditional art collections around the globe hardly show works created by women and when they do, they are typically sold for less value. Even in the increasingly digitalized world, where you’d expect more progress, female artists remain underrepresented. Thankfully, World of Women is stepping in to change this status quo and bring more inclusivity to the art world. Learn more on Binance.com What Is the World of Women NFT Collection? World of Women (WoW) NFT is a collection of 10,000 non-fungible tokens (NFTs) of ‘diverse, powerful, and cool’ women all done by WoW co-founder and artist Yam Karkai. The unique collection of art is meant to highlight diversity and promote inclusivity in the NFT space. Known to depict women in vibrant colors, Yam drew inspiration from Rihanna’s Fenty makeup range to create 14 skin tones on 200 hand-drawn women. The Night Goddess skin tone, for instance, is one of the rarest features in the collection. To commemorate Women's History Month in March 2022, a Night Goddess from the WoW collection was auctioned at Christie's Evening Sale in London for a whopping 260 ETH, worth $755K at the time. According to the WoW website, only a meager 5% of female artists accounted for all NFT art sales in 2021. Motivated by the sheer possibilities that web3 presented to artists looking to create, promote, and sell their art, Yam embarked on the ground-breaking project. On Jul 27, 2021, the World of Women Collection was launched for a public sale and sold out in about 10 hours. The WoW collection not only aims to shine light on women but also to support them in their work. 15% of the WoW sales goes to the WoW Fund to support NFT artists, with 300 art pieces bought in the first year of its launch. Source: OpenSea Who Is Behind World of Women? Yam Karkai co-founded World of Women with her partner, Raphael Malavielle. With little-to-no experience in the crypto space, the two launched the sold-out World of Women Collection on the world’s largest NFT marketplace, OpenSea. Currently, the team has expanded to include many more talented individuals in different spaces such as BBA, Dani Ton, Cynthia Hass, Diana-Luk Ye, and German Aquila. Benefits to Holding World of Women NFT World of Women is a strong force championing inclusivity, diversity, and opportunities to thrive through web3 art. As part of the WoW community, apart from joining a unique set of art trendsetters, you also get a whole list of benefits including: Ownership of the artwork and intellectual property – The owners get all the rights to the image and can use it for business purposes or their digital identity. Eligibility to exclusive monthly airdrops – As a holder, you gain exclusive access to monthly airdrops from select artists who create WoW theme-inspired art. Exclusive access to your WoW 4k x 4k file. Ability to customize your WoW avatars with various outfits and accessories. Curated pre-sales and mint Pass for high-potential collections vetted by WoW's own decentralized autonomous organization (DAO), DaWoW – You get to buy the first WoW NFTs and with the impressive current price floor, these are lucrative deals to clamor for. Holders-only discounts and raffles Physical WoW merchandise Invitations to the Annual WoW Gala and IRL events Holders contribute to DaWoW’s governance structure What Is World of Women Galaxy? The WoW NFT collection not only enjoyed success in the marketplace, but also fulfilled its mission of bringing to the fore the underrepresented female artists, onboarding artists to the new space, and making a positive impact in society. It’s against this backdrop that Yam Karkai launched her stunning World of Women Galaxy collection in March 2022. In the spirit of inclusivity and representation, the WoW Galaxy collection brings even better opportunities for more people to become owners and contributors as well as other special perks. The collection has 22,222 NFTs, 10,000 reserved for WoW holders, 10,000 allotted for public sale, and 2,222 reserved for the community's allowlist. The holders of WoW Galaxy enjoy the following unique benefits: Ownership of the Artwork and Intellectual Property Exclusive access to surprise airdrops Invitation to the Annual WoW Gala Exclusive access to custom WoW merchandise Opportunity to shape WoW's future through DaWoW Access to a metaverse version of all WoW Galaxy NFT tokens Source: OpenSea Why Is World of Women So Popular? World of Women has gained popularity for these reasons: First Successful Women-led NFT Community WoW takes the spotlight in the male-dominated space. Many people resonate with WoW's mission to create stunning art and champion inclusivity and equal opportunities for women and minorities. Starting an NFT project and successfully maintaining high sales have also played a key role in making World of Women popular globally. Wide Support from Big Personalities World of Women received big support from within the NFT community after launching the first NFT project from personalities like YouTuber Logan Paul, NFT collector Pransky, and not forgetting Gary Vee, the founder of blue chip NFT VeeFriends, whose shoutout led to the fast 10-hour WoW collection sell out. A couple of celebrities have not only bought into the project but also pledged their support for the WoW team’s women-led agenda. One of the most notable is Reese Witherspoon who bought a WoW NFT and used it as her profile picture on Twitter. Source: Twitter A partnership between Reese Witherspoon’s media production company, Hello Sunshine, and WoW to develop feature films, scripted and unscripted shows on web3 art has also added to the buzz around World of Women. WoW has also partnered with Guy Oseary, commonly known as the music manager to some of the biggest stars such as Madonna, U2, and the Red Hot Chili Peppers. He has recently added NFT talent manager to his portfolio, managing blue chip NFTs such as the Bored Ape Yacht Club (BAYC). Other celebrities who've embraced WoW's vision of empowering women include Eva Longoria, Shonda Rhimes, Liam Payne, and Napheesa Collier among others. The culmination of the representation and equality message, groundbreaking NFT collections, support from NFT personalities, and other celebrities has helped WoW to leverage visibility in a big way. Is World of Women a Blue Chip NFT? World of Women has steadily risen up the ranks to become a blue chip NFT among the likes of BAYC and CryptoPunk, and it's easy to see why. Its powerful vision, brand power, valuable partnerships, and celebrity endorsements make it one of the most stable and profitable NFT investments on the market. How to Buy World of Women NFT Ready to join the WoW community and contribute to female empowerment? It's quite easy. WoW NFTs are minted on Ethereum. You'll need a web3 NFT-enabled wallet that's compatible with the blockchain. One of the safest and most legitimate places to buy World of Women NFT is on OpenSea. The steps below outline the simple process of buying a WoW NFT. Identify the NFT that speaks to you Click the Buy Now button Connect your crypto wallet Select the crypto payment method Review your fees (gas fees) Complete the payment prompts and click Pay View your new WoW NFT purchase on your OpenSea profile Congratulations! You're officially a WoW NFT holder. What’s Next for World of Women? With the current strategic partnerships, the WoW Foundation gaining momentum, and more artists coming on board, WoW is far from done. The WoW Foundation will receive $25 million from Sandbox over the next five years to promote its inclusivity and representation efforts in different spaces. Mentorship, incubation, and funding for NFT projects through sandbox networks are key pillars focused to empower women and raise the next generation of NFT female influencers. Partnerships with Guy Oseary and Reese Witherspoon will see the team create powerful stories that promote digital art. The WoW Community is only over a year old and it's a testament that with a little self-determination, any woman can break barriers in any space. Yam Karkai and her team are well on their way to changing the dynamics of the art world with their ambitious project. Source: World of Women NFT: Celebrating Females In Art | Bybit Learn
US Inflation Slows as Spending Stalls: Glimmers of Hope for Economic Outlook

Tesla Hit A Fresh Record, FOMC Minutes And US Jobs Will Give Direction

Swissquote Bank Swissquote Bank 03.01.2023 10:53
The New Year started with the IMF Chief Georgieva warning that the global economy faces ‘a tough year, tougher than the year we leave behind’. German PMI German PMI data pointed at a faster than expected contraction in manufacturing activity in December, while the European manufacturing PMI came in at 47.8, in line with expectations. European markets This being said, trading in European markets was rather optimistic on the first trading day of the year, as European nat gas futures eased on mild weather. Forex The US dollar index kicked off the year on a subdued note, letting the dollar-yen tip a toe below the 130 mark. The EURUSD however, couldn’t build on gains above the 1.07 mark, while Cable remained steady-ish a touch above its 200-DMA, which stands near 1.2030 level. Gold Gold jumped to $1843 per ounce despite the positive pressure on the yields recently, while oil remained offered into the 50-DMA, which stands a touch below the $81 per barrel mark. Bitcoin Trading in Bitcoin remains boring. US data and OPEC On the economic data front, we will watch FOMC minutes, US jobs data, and OPEC meeting this week. EV On individual stocks front, carmakers announce their Q4 deliveries. Tesla hit a fresh record, but the number of cars delivered last quarter fell short of expectations, while Rivian reportedly doubled production in the final quarter of 2022 to hit its 25’000 yearly target. Watch the full episode to find out more! 0:00 Intro 0:17 IMF warns that 2023 could be tougher than 2022 1:31 Chinese data disappoint 2:42 But European stocks remain bid 4:41 FOMC minutes & US jobs will give direction 6:07 US crude tests 50-DMA resistance 7:33 Tesla's record Q4 deliveries fall short of expectations Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #HappyNewYear #2023 #IMF #warning #economic #recession #China #Covid #energy #crisis #USD #EUR #JPY #Bitcoin #XAU #Tesla #Rivian #deliveries #FOMC #minutes #OPEC #US #jobs #data #NFP #DAX #CAC #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Now The Ethereum Market Is On The Monthly Highs Trying

The New Regulations Give The Bank Of Russia Great Powers And Support The Development Of The Necessary Payment Infrastructure For The Digital Ruble

Sebastian Seliga Sebastian Seliga 03.01.2023 12:12
Crypto Industry News: A group of Russian lawmakers, led by the chairman of the Financial Market Committee Anatoly Aksakov, submitted a draft law on the digital ruble, a central bank digital currency (CBDC) issued by the Russian monetary authority. The document proposes legislative changes that are to create conditions for the implementation of the project. According to the explanatory notes to the bill, cited by the RBC news portal, the main goal of the bill is to develop the necessary payment infrastructure for the digital ruble. Officials believe that this will provide Russian citizens, companies and the state with access to fast, convenient and cheap transfers. The Act also aims to amend several existing provisions. For example, the law "On the national payment system" to which members of the Duma want to add definitions related to CBDC issues. The new regulations give the Bank of Russia a lot of power and make it the sole operator of the CBDC platform. They also establish procedures for opening digital ruble wallets and accessing said platform. The amendment to the Law "On Currency Regulation and Currency Control" secures the status of the digital ruble as the currency of the Russian Federation and defines CBDCs issued by central banks of other countries as foreign currencies. In turn, amendments to the federal law "On Personal Data" allow the Russian Central Bank to process personal data without obtaining consent and without the need to notify the authority responsible for the protection of personal data rights in advance. Technical Market Outlook: The Ethereum cryptocurrency has retraced 38% of the last wave down on the H4 time frame chart and is currently trading close to this level. The 100 SMA is seen at the level of $1,246, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the positive territory. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Read next: New Record For Electric Car Manufacturer - Tesla Deliveries Increased By 40% Year-On-Year| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 11:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307167
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Volatility Of Bitcoin Is Still Limited Despite The Recent Spike Down

Sebastian Seliga Sebastian Seliga 03.01.2023 12:19
Crypto Industry News: Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva shared the IMF's predictions for the US, EU, China and the global economy in an interview with CBS aired Sunday. "Here's what we'll see in 2023. It's going to be a tough year for the global economy, tougher than the one we're leaving behind. Why? Because all three major economies, US, EU, China, are slowing down at the same time," she said. They are the most resilient. The US can avoid recession. We see that the labor market remains quite strong. However, this is moderately good, because if the labor market is very strong, the Fed may have to keep interest rates higher for longer to bring inflation down," she continued head of the IMF. As she noted, "The EU has been very badly affected by the war in Ukraine. (...) The economy of the European Union will be in recession. China will slow down even more this year." "Next year will be difficult for China. And this translates into negative trends around the world," she added. She warned that "when we look at emerging markets in developing economies, the picture is even worse." "- Why? Because, to make matters worse, they are hit by high interest rates and the appreciation of the dollar. For these economies (...) it is a real devastation" - she explained. Referring to China, Georgieva noticed that the restrictions of the "zero covid" policy are being loosened in the Middle Kingdom. "For the first time in 40 years, China's economic growth in 2022 is likely to be equal to or lower than global growth. This has never happened before," she added. Read next: New Record For Electric Car Manufacturer - Tesla Deliveries Increased By 40% Year-On-Year| FXMAG.COM Technical Market Outlook: The BTC/USD pair had keeps trading below 100 MA on the H4 time frame chart and is trading below the intraday technical resistance seen at $17,057. The volatility is still limited despite the recent spike down, so the trading rage is seen between the levels of $16,268 - $17,057. Any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). On the other hand, a breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Read next: The Korea Fair Trade Commission (KFTC) Will Impose A Fine Of $2.2 Million On Tesla Inc| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 11:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307169
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Is Experiencing The Most Bearish Pressure

InstaForex Analysis InstaForex Analysis 03.01.2023 12:24
Bitcoin greeted the New Year in absolute calm and updated its two-year low of trading volumes. The asset continued its consolidation period near the $16.5k level. However, the cryptocurrency intends to spend its birthday more brightly. After a local upward spurt to the $16.7k level, the main indicators of trading activity in the Bitcoin network continued their upward movement. This may mean that the cryptocurrency is preparing to end its period of consolidation and begin significant price movements. However, it is important to understand that, despite the possible attempts of the upward movement of Bitcoin, they will not be crowned with significant success. Despite the passage of peak moments, the sale of BTC coins by mining companies continues, which greatly complicates the upward movement of the cryptocurrency. The second key factor is the correlation between Bitcoin and SPX. The trading index completed the local bullish momentum and began to decline. The cryptocurrency duplicates the price action of the S&P 500 with a delay of several days, which may mean a retest of the $16.9k level and a subsequent decline to the usual levels. Bitcoin on-chain activity The network activity of Bitcoin does not show clear signals for the formation or the beginning of an upward movement. There is a divergence on the chart between volumes and the unique number of active addresses. This may indicate the activation of buyers and the presence of a local upward trend. But at the same time, low trading volumes indicate the absence of a large buyer that can significantly affect the price movement of the cryptocurrency. BTC/USD technical analysis On the daily chart, there are attempts to move the cryptocurrency up to the $16.9k level. Technical metrics show the development of bullish momentum and the continuation of the upward direction. RSI and stochastic oscillator are moving upward, indicating the activity of buyers. On the four-hour chart, the situation is not so rosy due to the activation of sellers around the $16.7k mark. At the end of yesterday's trading day, the price tested the $16.8k level, but subsequently began to decline. As of writing, Bitcoin is holding the $16.7k level, but for how long? Technical metrics on the 4H timeframe say that the bullish momentum has run its course, and the price will start to decline. The RSI reversed sharply to the downside, while the stochastic formed a bearish crossover. The signals were formed recently, which means that right now, the cryptocurrency is experiencing the most bearish pressure. Among the likely scenarios, it is worth highlighting a neutral option, in which an unsuccessful attempt to retest $16.8k ends near the $16.7k level. In this case, BTC continues to consolidate in the $16.5k–$16.7k range. In an unfavorable outcome, Bitcoin rolls back beyond the $16.5k level, and the price moves towards a $16k retest. Results The probability of a positive outcome in which Bitcoin breaks the $16.8k level and moves further upward to $17k is also possible. However, technical metrics and ongoing activity point to the main weakness of the attempt to realize bullish momentum—the absence of a strong buyer. If a major player does not appear soon and the price closes the trading day below $16.7k, we should expect a negative scenario to materialize. But when a major player appears, for example, after the opening of the U.S. markets, the probability of a neutral and positive outcome increases. Relevance up to 09:00 2023-01-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331355
FX Daily: Upbeat China PMIs lift the mood

The Caixin Future Output Index Suggests Firms Are More Optimistic About The Longer-Term Outlook Since Covid-Zero Was Abandoned

Craig Erlam Craig Erlam 03.01.2023 12:40
A mixed start to trading on Tuesday as traders return following the festive break to some rather gloomy forecasts for the coming year. The IMF is among those warning of a tough year, more so than the one we’ve just left, as the simultaneous slowing down of the US, EU, and China takes its toll. Of course, all forecasts at this moment are subject to enormous uncertainty around the war in Ukraine, inflation, interest rates, and China’s Covid response, among others, but it seems almost everyone is going into 2023 with a healthy dose of trepidation. And following a series of nasty shocks last year, who can blame them? There is the potential for surprises this year to be of a more positive nature, of course, but as it stands, the outlook is understandably gloomy and will remain so unless something significant changes, either on the war in Ukraine or inflation. If inflationary pressures remain stubborn – and a strong, successful transition from zero-Covid to zero restrictions could enable that – then central banks will have little choice but to continue tightening monetary policy in order to bring it down. That is something the IMF strongly urged them to do, with stubbornly high inflation deemed a far greater risk over the longer term. As far as the economic calendar is concerned this week, we’re easing ourselves back in today with mostly revised PMIs and other tier-three data. Things will pick up on that front from tomorrow, with the December Fed minutes being released alongside some more significant data and that will continue into the end of the week when we get the first jobs report of the year. Read next: New Record For Electric Car Manufacturer - Tesla Deliveries Increased By 40% Year-On-Year| FXMAG.COM One interesting release this morning came from China, where the Caixin manufacturing PMI painted a less pessimistic picture than the official number over the weekend. While the surveys are different in the kind of firms they cover, it was interesting that the official number pointed to greater concern around the sector at the moment. That said, there does seem to be some promise in the Caixin future output index which suggests firms are more optimistic about the longer-term outlook since Covid-zero was abandoned despite the prospect of near-term difficulties. Range-bound Bitcoin has remained quite stable recently, hovering in the $16,000-17,000 range over the last few weeks. That may come as a relief to the crypto crowd after another rough few months. The new year no doubt has plenty in store for cryptocurrencies but in the short term, the community may just be hoping for no new scandals that will drive investors away. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

Businesses Such As Microstrategy, Can Purchase Any Quantity Of Bitcoins And Hold Them On Their Balance Sheet For As Long As They Choose

Paolo Greco Paolo Greco 04.01.2023 08:03
On the 4-hour TF, it is evident that bitcoin has deviated below the ascending trend line, but overall, since the most recent decline, it has been mostly going sideways, which is exactly what we anticipated. Remember that the "collapse-flat-collapse" trading strategy will be used in 2022 when bitcoin is traded. As a result, despite crossing over the trend line, a protracted flat can now be seen. One of the more intriguing recent developments involved Microstrategy's acquisition of an additional 2.4K bitcoin coins. In light of this, the business, which was once run by Michael Saylor, is still making purchases of the original cryptocurrency. What is he doing, and why? Here, it's critical to comprehend each investor's specific capabilities. Suppose you want to invest $10,000 in bitcoin and are willing to do so. How long are you prepared to wait before seeing a return on your investment? Can you wait five or ten years? If so, the investment is quite rational given the likelihood that bitcoin will eventually expand once again. But what if you're down to your final $5,000–10,000 and you desperately need cash? At all costs, you must get rid of the investment. Businesses with financial means, such as Microstrategy, can purchase any quantity of bitcoins and hold them on their balance sheet for as long as they choose. Merely, the 5–10 years we discussed above. As a result, Microstrategy functions over a wide area. All 132.5 thousand coins were purchased for an average of $30,400. In other words, this investment is not profitable right now. But since the corporation is likely to keep purchasing, the average purchase price will drop and bitcoin will eventually increase in value. Even if this does not occur, the loss of several billion dollars will not cause the corporation to fail because it is so big. As opposed to numerous small and individual investors who might be purchasing coins with their last few dollars. Because of this, demand is currently not increasing. Many anticipate an even worse decline, and they typically invest in an asset while it is rising rather than declining. Of course, you can try to "guess" when the "bearish" trend will end, but how many people can foresee market reversals in cryptocurrency? In a market where Elon Musk's tweets can cause a $5–10,000 dollar movement? As a result, even though there are no buy indications, we do not advise taking long positions. The quotes for "bitcoin" very rapidly completed the creation of an upward trend in the 4-hour time frame and consolidated below the trend line. As a result, we are currently anticipating the cryptocurrency to continue falling, with a target price of $12,426. It might take place right now or in a few months. There are still no indications that bitcoin will experience rapid growth in the near future. Relevance up to 19:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331397
Bitcoin Is Showing A Good Sign For The Further Rise

US Regulators Have Issued A Warning To Banks Regarding Cryptocurrencies

Sebastian Seliga Sebastian Seliga 04.01.2023 09:59
Crypto Industry News: The FDIC (Federal Deposit Insurance Corporation) and two other US regulators have issued a warning to banks regarding cryptocurrencies. In a joint statement, the Federal Reserve Board of Governors, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) said banks should be aware of the "significant volatility and vulnerability" the cryptocurrency sector has experienced over the past year. Regulators added that cryptocurrency-linked banks could be particularly at risk. The so-called "challenger banks", a new generation of financial institutions, have started to offer digital asset services around the world. "Based on the current situation and past experience, our agencies believe that issuing or holding core crypto assets that are issued, held or transferred on an open, public and/or decentralized network or similar system is likely to be inconsistent with secure banking practices " - we read in Monday's statement. Technical Market Outlook: The BTC/USD pair had keeps trading above 100 MA on the H4 time frame chart as the spike up continues towards the key short-term technical resistance. A breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360, but for now the bulls are still trading below the level of $16,950. On the other hand, any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Strong and positive momentum support the short-term bullish outlook. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term. Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307294
Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

Another Blow To The Cryptocurrency Industry, Ferrari Removal Of Velas From Its List Of Partners

Sebastian Seliga Sebastian Seliga 04.01.2023 10:02
Crypto Industry News: The uncertainty caused by the decline in the cryptocurrency market and a series of turbulent bankruptcies is also spreading to the Formula 1 industry, one of the most important cryptocurrency partners. The declining value of NFTs (Non Fungible Tokens) in F1 has caused Ferrari, one of the well-established F1 teams, to drop support from its crypto-sponsor Velas. By announcing on its website that it had removed Velas from its partner list, Ferrari became the second F1 team after Mercedes to terminate its sponsorship deal with the cryptocurrency company. Ferrari's removal of the cryptocurrency brand Velas from its list of partners marks another blow to the cryptocurrency industry, which continues to lose ground in F1. The Italian team announced a partnership with Velas at the end of 2021, at a time when F1 teams seemed eager to make deals with cryptocurrency companies. However, the landscape has changed dramatically over the last twelve months and cryptocurrencies have significantly lost value in the eyes of Formula 1 teams. Technical Market Outlook: The Ethereum cryptocurrency has retraced 50% of the last wave down on the H4 time frame chart and is currently trading above to this level. The technical resistance is seen at the level of $1,259, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278 and 61% Fibonacci retracement level located at $1,274. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the extremely overbought market territory. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307298
Bitcoin Has Made A Dynamic And Aggressive Reversal

Reversal Of Fed Policy May Prove Crucial For Bitcoin's Moves

InstaForex Analysis InstaForex Analysis 04.01.2023 10:15
Bitcoin remains unwaveringly committed to an indifferent flat movement in the first days of January 2023. The cryptocurrency managed to achieve local success and form a green candle, thanks to which the asset reached the level of $16.8k. However, if we trace the weekly path of Bitcoin to current positions, we can note low trading volumes, as well as low investment activity of long-term investors. Certain categories of hodlers continue to sell off their BTC holdings. According to data from Glassnode, the number of addresses with a balance of more than 1,000 BTC has dropped to 2,000. The figure has reached a three-year low, indicating a lack of consensus among long-term investors regarding Bitcoin. In part, this fact indicates that the period of large-scale consolidation and redistribution of BTC volumes continues. However, throughout 2022, the market became convinced that the best catalyst for the movement of BTC coins is a crisis situation and a sharp drop in price. Is Bitcoin heading toward $10k? According to experts of the largest investment company VanEck, the cryptocurrency market is heading for this scenario. Analysts are confident that the first quarter of 2023 will be characterized by an aggravation of crisis processes and high volatility. It is expected that Bitcoin will continue its downward movement and update the local bottom near the $10k–$12k levels. According to VanEck experts, this will be affected by the current state of the mining industry. The rise in the price of energy resources and the cost of mining BTC provoke huge losses among the miners. Recall that, on average, for each BTC mined, mining companies incur a loss of about $3,000. It also recently became known that the total credit debt of public mining companies is more than $4 billion. VanEck experts consider these factors to be key in the future fall in the price of the cryptocurrency. Recall that the warning about "several difficult months" was contained in a letter to the employees of the largest crypto exchange Binance. Also, the average percentage of BTC price drop from the high is 85%. As part of the current bear market, the asset lost about 77%. Presumably, when the price of Bitcoin reaches the $10k–$12k area, the percentage of the fall from the high will be approximately 82%–85%. Given these data, forecasts from VanEck experts have every chance of becoming a reality. SPX and Bitcoin A regular guest of analysis of the situation around Bitcoin, the S&P 500 index is more relevant today than ever. If you look at the SPX annual price chart, you can see that despite the massive drop after 2021, the asset is still overheated. Given the approaching recession and the focus of investors on capital preservation, the fall of SPX may continue. Bank of America and BNP Paribas forecast that the S&P 500 will end 2023 at $3,400. As of January 4, the stock index quotes are close to $3,800. A fall to the $3,400 level will mean that the asset's capitalization will lose another 8%–10%. Given that SPX is the flagship of the stock market, a corresponding movement should be expected on other instruments. BTC/USD Analysis In the medium term, there is every reason to believe that Bitcoin will update the local bottom, which will cause the next stage of capitulation and redistribution of capital. At a distance of a year, the asset may resume its upward movement and reach the level of $30k, according to VanEck experts. A key factor in the recovery movement of the Bitcoin price may be a reversal of the Fed's policy. More than 2/3 of economists from the 23 largest financial institutions expect the Fed to ease monetary policy in the second half of 2023, according to a WSJ survey. U.S. Federal Reserve Chairman Jerome Powell said there are plans to increase the key rate to the 5%–5.5% level. At current rates, the indicator will reach the indicated milestone by March–April 2023, just in time for the end of the first quarter of 2023. Results The crypto market has survived most of the bear market, however, many factors point to the need for a final dive. Given this, we should not expect significant recovery movements in the BTC price in the first half of 2023. The main stage of the price recovery and consolidation movement in preparation for the 2024 bull market will begin in the second half of 2023. Until then, the investment environment in the crypto market will be toxic and unattractive due to the recession and future bankruptcies of crypto companies.   Relevance up to 09:00 2023-01-05 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331423
Serum Was Once The Largest Decentralized Exchange On Solana But Now Serum Drop Due To FTX Collapse

Serum Was Once The Largest Decentralized Exchange On Solana But Now Serum Drop Due To FTX Collapse

ByBit Analysis ByBit Analysis 04.01.2023 13:17
Daily Top Mover — Serum (SRM) Major U.S. equity indices started the first 2023 trading session on a sour note. Tesla’s stocks plunged by 12.24% in the wake of poor December delivery numbers, dragging down the Nasdaq Composite index to round off the day with a -0.76% return. Meanwhile, the broader cryptocurrency market behaved unimpressively, with Bitcoin and Ether both down 0,05%, in the past 24 hours. The top mover for today, SRM, which registered a 24-hour return of 30.9% as of the time of writing, has outperformed the market, likely due to FTX’s unfolding saga and the praise from Vitalk on Solana.  Learn more on Binance.com SRM is the native token of the decentralized exchange Serum built on Solana. Before FTX’s collapse, Serum was once the largest decentralized exchange on Solana, whereas other DeFi protocols lean on its liquidity to build innovative products. Serum was backed by Sam Bankman-Fried, and therefore leading to the plunge of SRM following FTX’s fallout. The outperformance of SRM overnight was likely due to revived hope that the FTX situation was less serious than claimed by current CEO John Ray III, where $3.5 billion worth of FTX assets may be safely kept by Bahamian authorities. However, as an investment project, Serum is not a creditor to FTX’s bankruptcy, and positive news from FTX’s unfolding saga is unlikely to improve Serum’s fundamentals.  What’s more, SRM surged, together with other tokens in Solana’s ecosystem, in the wake of praise from Vitalik on the Solana developer community in the past weekend. However, this is unlikely to continue in the long term as the Solana community is working on a Serum fork, OpenBook, to replace the original Serum project.  Check Out the Latest Prices, Charts, and Data for SRM/USDT! Talk of the Town ( Source: https://www.hd.square-enix.com/eng/news/2023/html/a_new_years_letter_from_the_president_3.html ) Amidst the current bearish conditions in the crypto scene, popular Japanese firm Square Enix remains focused on the development of multiple blockchain games. In November 2022, the company behind popular Web2 franchises such as Final Fantasy and Dragon Quest announced its first Web3 game in the form of a digital collectible art project, Symbiogenesis, where players will decide whether to share or keep unique data and attempt to uncover a story. The game is set to be launched in Spring 2023. Meanwhile, President of Square Enix, Yosuke Matsuda, revealed in this annual 2023 letter that the company is preparing to release more Web3 project titles this year. Matsuda also emphasized his confidence in Web3, stating his hopes “that blockchain games will transition to a new stage of growth in 2023”.   Read next:Exxon And Chevron Abandon The Global Market And Focus On The Americas| FXMAG.COM Check out what else is buzzing in the crypto scene today: Gemini accuses DCG’s Barry Silbert over frozen funds on Germini Earn. (Link) Italy approves 26% tax on cryptocurrency gains. (Link) The Bahamas Securities Commission claims the current FTX CEO has made “material misstatements” when alleging collusion between FTX and the Bahamian government. (Link) SBF pleads ‘Not Guilty’ to all Charges as Judge grants redaction of bail signers’ identities. (Link) December was 2022’s lowest month in terms of hacking proceeds. (Link) Source: Bybit Blog | FTX’s Unfolding Saga Buoys SRM Token; Square Enix Continues Focus on Web3  
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Centralized Exchanges (CEXs) Remain A Promising Avenue For Users To On-Ramp Cryptocurrency As Opposed To Decentralized Exchanges (DEX)

ByBit Analysis ByBit Analysis 04.01.2023 13:24
Security, product innovation, and liquidity are deemed successful for crypto exchanges’ growth and sustainability. Despite the calamitous crypto events, Bybit emerged stronger in these key dimensions. As you read on, we explain how Bybit came to the fore as the fastest-growing centralized crypto exchange globally. Research suggests that Bybit is among the 11 analyzed crypto exchanges to show a steady market share growth, increasing from 1.1% to 3.9%. Bybit also reported a stellar growth of 248% in month-on-month trading volume in September 2022 by implementing a zero-fee trading program. Learn more on Binance.com Users are indeed more risk-averse concerning the collapse of Terra and the bankruptcy of the FTX exchange. Still, centralized exchanges (CEXs) remain a promising avenue for users to on-ramp cryptocurrency as opposed to decentralized exchanges (DEX), especially when decentralized finance (DeFi) is still thought to be at its infant stage.  What would be Bybit's trajectory to secure the ascendancy? And does the statistical vantage point agree? Here's what was revealed with facts.  1. Bybit will continue to grow at an exponential rate  A report done by CryptoCompare shows that Bybit generated a shift in business strategy that propelled further growth in trading volume and market share despite a broad market downtrend. Here is what Bybit has done that contributed to its development: a. Zero-fee trading program: Implementation of zero-fee trading all across Spot trading pairs on September 6, 2022.  b. A newly reformed branding: Bybit unveils a new brand identity with a consistent layout and better brand messaging, reassuring users about our commitment to excel. Providing only the best and most reliable services for traders alike to magnify profits with new product innovation and better opportunities.  c. Exchange security and transparency offering: Strengthening user's confidence in the exchange by releasing the PoR report and Merkle Tree on December 10, 2022.  d. Trend capturing: Bybit sees a shift in users' confidence in CEXs and the rising popularity of decentralization. The quick reaction yields the release of Bybit's Web3 wallet alongside the integration of ApeX Pro bridges the gap of trading in a CeFi and DeFi environment to actualize financial empowerment and inclusion for all.  2. Security, Transparency and Proof-of-Reserves are gaining popularity — Bybit is here to stay The collapse of Terra, BlockFi, and FTX continues to raise many eyebrows. A continuous ignition of fear, uncertainty, and doubt (FUD) forces more retail and institutional traders to put a microscope on an exchange's security measures, proof-of-reserves, infrastructure setups, and community engagement. Zooming into Bybit's effort to reassure users:  a. Proof-of-reserve (PoR): Bybit is one of the few exchanges to show clean PoR proving the funds held in the reserves match the liabilities.  Find out our PoR snapshot here.  B. Security: Hacks are getting more rampant — Bybit tightens the security standard to introduce two-factor authentication and 24-hours customer services to support users in distress. The bug bounty program was launched to encourage white hackers to identify and resolve security bugs.  C. Custodial and cold wallet solution: Bybit implements backend security measures, including cold wallet storage, offering the option for custodian fund safekeeping and geographical distribution of private user keys to mitigating a central point failure. Read next: Exxon And Chevron Abandon The Global Market And Focus On The Americas| FXMAG.COM 3. Eminent investment in the Web3 space to support its long-term vision CEO Ben Zhou says Bybit is here to stay and is constantly improving to put the firm in a solid position to meet customers' changing needs. Its evolving company climate translates to the emerging expansion in Web3 product innovation, including the launch of the latest Web3 wallet — bridging the gap between centralization and decentralization.  Believe it or not, crypto exchanges remain vital for users, and the potential is eminent. We seek to build a crypto ark that helps you move forward with better reliability, products, and opportunities. Glean insights into the complete report — 4 Key CEX Trends of 2023. Free Access to CryptoCompare Full Report Source: Bybit Blog | 2023 CEX Report Highlights Bybit's Resilience in Winter
Technical Outlook Of The Further Movement Of Bitcoin

If The Situation On The Bitcoin Market Does Not Start To Improve, People Dealing With This Asset Will Be Forced To Join Forces With Other Companies

Sebastian Seliga Sebastian Seliga 05.01.2023 11:10
Crypto Industry News: The past year can definitely be classified as unsuccessful for bitcoin. The negative effects of the onset of the cryptocurrency winter were also strongly felt by miners extracting the first cryptocurrency. Industry analysts predict that many people from the BTC mining market will join forces to reduce the individual costs of their activities. Analysts from the Hash Rate Index - Jaran Mellerud and Colin Harper - hypothesized that if the situation on the bitcoin market does not start to improve, people dealing with this asset will be forced to join forces with other companies. On the site's blog on January 3, a post was published called "10 bitcoin mining forecasts for 2023." Its creators point out that public BTC miners have to face certain reporting requirements. This includes activities such as annual reports, the cost of which is very high. After bitcoin mining profits fell by 90% in 2022, public miners have significantly reduced their administrative costs on more than one occasion. To this end, they went private or merged with other entities to share the costs. Moreover, the post published on the Hash Rate Index also assumes that 2023 will be marked by a massive restructuring in the Bitcoin mining industry. Analysts have no doubts that strengthening miners' balance sheets will be their top priority in 2023. In addition, it was pointed out that the level of liabilities incurred by some miners would force them to restructure their debt as the only solution to their financial problems. This may mean attempts to negotiate lower interest rates or extend the period for repayment of loans taken out, as the authors assume. Technical Market Outlook: The BTC/USD pair had keeps trading above 100 MA, nevertheless the recent rally had been capped at $17,000 after the Bearish Engulfing candlestick pattern was made at H4 time frame chart. A breakout above the level of $17,057 is needed in order to extend the rally towards the key short-term technical resistance seen at $18,360, but for now the bulls are still trading below the level of $16,950. On the other hand, any breakout below the range low would extend the corrective cycle towards the level of $15,984 (November 28th low). Strong and positive momentum support the short-term bullish outlook. Weekly Pivot Points: WR3 - $17,051 WR2 - $16,841 WR1 - $16,758 Weekly Pivot - $16,662 WS1 - $16,548 WS2 - $16,422 WS3 - $16,213 Read next: Samsung Suffers From Weakening Demand, Amazon Will Increase The Total Number Of Layoffs To Over 18,000| FXMAG.COM Trading Outlook: The down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. Moreover, there is a clear test of the 50 WMA located at the level of $15,600, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. The new yearly low was made at $15,555 and if this level is violated, then the next long-term target for bulls is seen at $13,712. On the other hand, the gamechanging level for bulls is located at $25,367 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2023-01-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307482
The Ethereum Market Is In The Pull-Back Mode Now

The Ethereum Has Retraced 61% Of The Last Wave Down

Sebastian Seliga Sebastian Seliga 05.01.2023 11:18
Crypto Industry News: The World Economic Forum (WEF) has reviewed what happened in the cryptocurrency market in 2022. In addition, it has prepared forecasts for this industry. Dante Disparte, CSO of Circle, in an article published for WEF, states that while 2022 was a time of crisis for cryptocurrencies, the building blocks of the industry will continue to be "integral parts" of the modern economic toolkit. He added that "[blockchain] experimentation at the core of financial services continues unabated." It also encourages you to watch "what the big banks and financial services companies do, not [listen to] what they say." He cites as an example JPMorgan, a company that has publicly gone from explicitly opposing cryptocurrencies and blockchain to adopting the technology in several of its experimental products and offering cryptocurrencies to select customers. Disparte compares cryptocurrencies to other ubiquitous technologies today, such as the internet and email, which have also been used for illicit purposes and criminal activities. However, he emphasized that it is crucial to pay attention to the fact that people with bad intentions are behind all this, not the technology itself. It is important to "compensate for the harmful effects [of cryptocurrencies] by putting the technology in the hands of responsible actors and encouraging its responsible use." The author of the article believes that cryptocurrencies, no matter what, are still part of the financial world, and while regulation of this market is a necessity, countries that are able to provide them while maintaining a competitive approach will shape the future of the industry. Disparte concludes that cryptocurrency technologies will continue to be mainstreamed. Technical Market Outlook: The Ethereum cryptocurrency has retraced 61% of the last wave down on the H4 time frame chart and is currently trading below this level after the Bearish Engulfing candlestick pattern was made. The technical resistance is seen at the level of $1,259, so bulls need to break through this level in order to continue the bounce towards the technical resistance seen at $1,278. The key short-term technical support is seen at the level of $1,183. Please notice the spike in the momentum indicator on the H4 time frame chart to the extremely overbought market territory. Weekly Pivot Points: WR3 - $1,258 WR2 - $1,232 WR1 - $1,220 Weekly Pivot - $1,205 WS1 - $1,191 WS2 - $1,178 WS3 - $1,152 Read next:Samsung Suffers From Weakening Demand, Amazon Will Increase The Total Number Of Layoffs To Over 18,000| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2023-01-06 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/307484
Stablecoins Could Be Used As A Way Of Storing Capital

Stablecoins Could Be Used As A Way Of Storing Capital

Conotoxia Comments Conotoxia Comments 05.01.2023 14:32
Stablecoins are cryptocurrencies that attempt to mirror the price of other assets, such as the US dollar, allowing to hold funds without need to withdraw them from digital wallets. However, stablecoins seem to have become to the cryptocurrency market what money printing has become to the finance market. According to the Btctools website, the total market capitalisation of stablecoins has fallen by 14% year-on-year, the first such decline since their listing began. At the same time, the Federal Reserve (Fed) reduced the amount of M2 money in circulation by a historic 0.7% year-on-year. Does the change in stablecoin market capitalisation affect changes in the overall cryptocurrency market? What are stablecoins really? Stablecoins are a type of cryptocurrency that are designed to have a stable value similar to other real assets. They are often used as a vehicle for transactions in the cryptocurrency market, as their stable value could avoid the risks associated with large price fluctuations. They could also be used as a way of storing capital, as their value does not fluctuate significantly in the short term. By May 2022, stablecoin's capitalisation had risen steadily, reaching a record $181 billion. It was when the listing of TerraUSD, one of the largest stablecoins, collapsed. The price of the major cryptocurrencies immediately plummeted. Bitcoin lost 35% of its value within a week and the stablecoin's capitalisation fell by $23 billion (down more than 12%). Since then, the market value of all stablecoins seems to be continuously declining month-on-month (currently at 2.8% m/m). Source: Conotoxia MT5, BTCUSD, Weekly What does less digital currency mean for the market? According to the Stablecoin Printer's Twitter profile, which tracks the number of new digital currencies generated, virtually no new tokens were issued among the top 4 stablecoins in December 2022. This is the first such month in history. A shrinking base of virtual money in the system could mean the same thing as central bank money printing for the financial system. A lack of new cash to spend could lead to a shortage of something to spend on new investments. This could lead to a weakened market. The first sign of a change in trend could be a month-on-month increase in the value of the stablecoin market. However, it seems hard to count on such a move in the current market conditions. Grzegorz Dróżdż, Junior Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Plans To Sell FTX Assets Met With Opposition From US Trustee Andrew Vara

Kamila Szypuła Kamila Szypuła 08.01.2023 19:18
Matters surrounding the bankruptcy of FTX are gaining momentum. The problem of unpaid internships still affects many young people.  In this article: Unpaid internship The drama around the bankrupt FTX crypto exchange Start working on your portfolio Unpaid internship In order to gain professional experience, young people are looking for guard offers. For many young people, an internship is a great opportunity to gain not only experience but also to show themselves to a future employer, for whom they can work even for years. It is also the first contact with the "real world". In most cases, as for any work done, interns get paid, but there are also those who do probono to acquire experience. A recent National Association of Colleges and Employers (NACE) study of college students found that over 40% of interns surveyed said they had not been paid. Such cases do not only happen in America, but the NACE study took a closer look at this phenomenon. The problem of unpaid internships will be successively reduced. Unpaid internships won't magically disappear, and they can continue as long as companies hire free labor and the rules don't change. More than 40% of interns are still unpaid — here’s the history of why that’s legal. https://t.co/modnvrEvvm (via @CNBCMakeIt) pic.twitter.com/UITsj95a03 — CNBC (@CNBC) January 8, 2023 The drama around the bankrupt FTX crypto exchange There is no end to the drama around the bankrupt FTX crypto exchange. FTX filed for bankruptcy protection in November and said last month it planned to sell its LedgerX, Embed, FTX Japan and FTX Europe businesses. FTX said in a lawsuit last month that the companies it plans to sell are relatively independent from the wider FTX group and that each has its own separate customer accounts and separate management teams. US Trustee Andrew Vara objected to these actions, arguing that the companies may have information related to FTX's bankruptcy. In addition, FTX founder Sam Bankman-Fried pleaded not guilty to criminal charges that he defrauded investors and caused billions of dollars in losses. it seems that the matter will be more complicated and will last much longer than one could expect. U.S. Trustee files objection to FTX's planned asset sales https://t.co/IH3VJ8KY1r pic.twitter.com/zih42ZhmbS — Reuters Business (@ReutersBiz) January 7, 2023 Start working on your portfolio Morningstar Inc often tweets tips on how to best manage your portfolio. The new year is undoubtedly the best opportunity to start working in this direction. Helping you look ahead and plan a productive year is the goal of the Annual Financial Calendar, which outlines a series of tasks you can take to improve your financial life on a month-to-month basis. Author in the calendar urgent tasks for a specific month, such as tax matters to be done early this year, but you can take care of other tasks in any order you see fit, or ignore those that do not concern you or what you have already achieved There are so many benefits to keeping this type of calendar, and keeping your financial life organized seems daunting in list form, but is easier to do when spread out over the year. It is worth using the tips of experts to make this year financially safe, and maybe even manage to earn an additional profit. Stay on top of your financial goals in 2023 with this financial to-do list and calendar from Morningstar director of personal finance @christine_benz. https://t.co/ndeYCehVDy — Morningstar, Inc. (@MorningstarInc) January 8, 2023
The President Of El Salvador Continues To Promote Bitcoin

The Bullish Idea For Bitcoin Remains Relevant

InstaForex Analysis InstaForex Analysis 09.01.2023 11:29
Bitcoin breaks its weeks-long silence and bullishly bursts into its first working week after the holidays. The cryptocurrency reached the $17.1k level, and continues its upward movement to the $17.4k level. It is important to note that the increase in trading activity occurred on Sunday. Bitcoin managed to consolidate above $17k and continues its upward movement on Monday. The positive start of the trading week may be indirectly related to the positive statistics of the U.S. labor market. According to data released on Friday, January 6, the unemployment rate rose by 3.5% against forecasts of 3.7%. Nonfarm payrolls rose by 223,000, while the forecast was 200,000. Labor market statistics once again prove that the U.S. economy remains resilient, despite the impending recession. On the one hand, this gives investors additional confidence in stability, but on the other hand, it gives the Fed a free hand to further raise the interest rate. Minneapolis Fed President Neel Kashkari has already stated that it is necessary to pause in raising the rate only after reaching the target level of 5.4%. The strength of the U.S. labor market and other economic indicators give the Fed the opportunity to implement its strategy to the fullest. Bitcoin and SPX A similar upward movement in the S&P 500 stock index played no small role in BTC reaching $17k. As of January 9, the trading index had formed a bullish takeover pattern thanks to the activation of a large buyer. The cryptocurrency market lacks the same volume as the stock market, and therefore Bitcoin managed to reach the $17k level. At the same time, the SPX came close to the $4,000 mark. However, for the final confidence in the bullish potential of the current week, it is necessary to wait for the opening of the U.S. markets on Monday. BTC/USD Analysis Bitcoin's long-term consolidation is nearing its end, and the asset has taken the first step towards a bullish strategy. The fluctuation range of $16.4k–$16.9k is gradually receding into the past, and the $17.4k–$17.8k level is already looming on the horizon. However, a similar situation already took place in mid-December, when Bitcoin made a false breakout the $18k level. Then the cryptocurrency grew on low volumes and barely absorbed the bears' volumes. The volumes at which BTC broke through the $17k level can also be characterized as low. The next two days will be key in understanding the future prospects for Bitcoin price movement. If the asset continues its upward movement with the growth of on-chain activity and trading volumes, then there is a possibility of a final consolidation above $17k. However, if a major buyer does not appear and the SPX starts to correct, then the probability of a false breakout will increase significantly, and the price will return below $16.9k. As of writing, the bullish idea for Bitcoin remains relevant. If the asset gains a foothold above $17k, then after local consolidation, the nearest targets for BTC will be $17.4k and $17.8k. Results The cryptocurrency market cheerfully started the new trading week, slight increases in trading volumes are visible. This is not enough to implement bullish impulses, so everything will depend on activation of large buyers and dynamics of S&P 500 price movement.   Relevance up to 09:00 2023-01-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331734
Pound Sterling: Short-Term Repricing Complete, But Further Uncertainty Looms

European Inflation Fell, US Jobs Data Pleased Investors

Swissquote Bank Swissquote Bank 09.01.2023 11:38
Friday’s jobs data in the US, and more specifically, the market reaction to Friday’s jobs data helped stock markets to record their best boost since more than a month on Friday. Friday’s jobs report However, Friday’s jobs report was rather… mixed, and spurred a lot of discussions and debates regarding whether the data was soft enough to convince the Federal Reserve (Fed) officials that the inflation battle is over, or it was strong enough to make them further scratch their heads. US markets US markets, however, gave a strong positive reaction to Friday’s jobs data. Both the US 2 and 10-year yields fell more than 4% after the data, pulling the US dollar index lower along with them. The S&P500 jumped around 2.30%, while Nasdaq 100 rallied near 2.80%. Gold Gold reached our $1880 per ounce medium term target, boosted by lower US yields, which made the opportunity cost of holding the non-interest-bearing gold lower, and increased appetite. Fed, US CPI data and Jerome Powell speach Activity on Fed funds futures now price in a 25bp hike at the next FOMC meeting at around 75%, but the Fed has not hesitated to disappoint markets since last year to cool down the optimism and send the stocks to turmoil. So the dovish pricing in Fed expectations make the latest gains a bit bitter-sweet, as the slightest news, or hints that the Fed would not step back from its hawkish tone could vanish the latest rally. So, this week’s US inflation data will be key in either giving the bulls a further boost or bringing back the bears with revenge. Jerome Powell will speak on Tuesday, and the US CPI data will be released on Thursday. On the corporate calendar, the earnings season will kick off with big bank earnings due Friday. Watch the full episode to find out more! 0:00 Intro 0:32 Strong NFP, soft wages… US jobs data pleased investors 03:36 But did it please the Fed? 4:59 Thu’s US inflation data is crucial for market mood 6:02 European inflation fell, but… 7:21 Crude oil flirts with $75pb 8:18 Bitcoin, Ethereum advance 8:36 Earnings season kicks off ! Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #jobs #NFP #wages #unemployment #inflation #data #dovish #Fed #expectations #USD #EUR #XAU #Bitcoin #Ethereum #earnings #season #banks #JPMorgan #WellsFargo #Citigroup #Blackrock #Tilray #BBBY #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
In The Coming Days Will Be The Final Consolidation Of Bitcoin

In The Coming Days Will Be The Final Consolidation Of Bitcoin

InstaForex Analysis InstaForex Analysis 10.01.2023 14:02
Bitcoin retains the upward momentum it received at the beginning of the new week. The asset managed to break through several key resistance levels, which allowed it to build up bullish potential and continue to move to local highs. Among the probable reasons for the upward movement of Bitcoin is an improvement in the macroeconomic situation and the activation of various categories of investors. This process is associated with the situation in China, where all covid restrictions have been finally lifted. The end of another round of the fight against coronavirus in China provoked an explosive reaction in Asian markets. Analysts predict that in the coming weeks we should expect the growth of the main Asian indices by 10%–15%, as well as the strengthening of the yuan. The activation of the Asian markets also caused a price increase in the energy market, namely oil. Brent and West Texas rose 1.2% as a direct result of more active Asian investors. How positive this process will be for the cryptocurrency market is not yet clear, but the global economy has definitely received investment injections. Another probable reason for the growth of Bitcoin quotes is the cyclical nature of the cryptocurrency halving procedure. According to the latest charts, the asset is approaching the final stage of price decline and begins a recovery movement towards local highs. Bitcoin and S&P 500 A powerful buying bar following the results of last Friday is also called the reason for the growth of Bitcoin quotes, which strengthened the correlation with the stock index. However, as of January 10, the SPX quotes sharply retreated and rolled back to the $3,900 level. The technical metrics of the financial instrument indicate further downward movement. Stochastic has formed a bearish crossover, and therefore there is a high probability that the current trading day will end below yesterday's high. It is likely that the fall in SPX is also associated with the activation of Asian markets, and therefore, we should expect American investors to try to buy off the fall after 13:00 UTC. In any case, the sell-off of American indices by Asian investors may have a negative impact on the price movement of Bitcoin. BTC/USD Analysis Bitcoin continues its upward movement, and as of January 10, the asset reached the $17.2k level. Following the results of the last trading day, the asset retested the level of $17.3k, but the price was pushed back to the local support zone $17.2k. Bitcoin holds positions near this mark, but there is a possibility of correction. The entire section of the path from $16.4k to $17.3k went almost without corrections, closing at least above the previous day's high. This indicates local overheating and a possible correction of the cryptocurrency in the next few days. The $17.3k level is the key resistance level on the way to $17.4k–$17.8k. This is the opening level on December 16, when Bitcoin formed one of the largest red candles over the past three months. Therefore, with the current volumes, buyers will not be able to gain a foothold above this level. The price movement on the 4-hour chart confirms the strength of the sellers near the $17.3k level. At the same time, the stochastic is forming another bullish crossover after a local recovery pause. This indicates another retest of the $17.3k level, which will most likely end with a local correction. Results The key task for BTC in the coming days will be the final consolidation and retention of the $17k level. The cryptocurrency market is approaching a series of important announcements from the Fed. Today, Federal Reserve Chairman Jerome Powell will give a speech regarding the regulator's policy in 2023. Given this level, volatility will increase, and the stock and crypto markets will react to Powell's theses. An increase in volatility and sharp price movements is expected, therefore, the key task for BTC will be to hold the $17k level in order to continue rising.   Relevance up to 09:00 2023-01-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331839
DPX Token Registered A 24-Hour Return Of 11.11%

Partnership Between Gala Films And The Actor Dwayne “The Rock” Johnson

ByBit Analysis ByBit Analysis 10.01.2023 15:03
Daily Top Mover — GALA Major U.S. equity surged in the early trading section in anticipation of a lower Fed terminal rate. The rally was weakened in the wake of the Fed officials’ hawkish comments. At the market close, Nasdaq 100 gained 0.63% while S&P 500 and Dow Jones ended up in red. Meanwhile, the broader cryptocurrency market saw a mixed performance, with Bitcoin down 0.11% and Ether up 2.27%, respectively, in the past 24 hours. The top mover for today, GALA, which registered a 24-hour return of 32.19% as of the time of writing, has outperformed the market, likely due to the rumored collaboration with “The Rock”.  Learn more on Binance.com GALA is a utility token for a Web3 company, Gala which owns Gala Games, Gala Films, and Gala Music. Despite its position as the fifth largest play-to-earn token, user activities on Gala Games have remained sluggish in line with similar challenges faced by Axie Infinity. GALA, however, outperformed the market as it announced a major partnership between Gala Films and the popular actor Dwayne Johnson (known as “The Rock”) yesterday on Twitter. However, the post has since been deleted as of the time of writing. Zooming in, GALA stood out with a 147.2% return in the past two weeks and successfully recouped its token drop in the wake of a multi-billion rug pull allegation in November. There have since been no major fundamental updates. As such, the reason behind the recent spike is likely due to a short squeeze as the perpetual funding rate dropped to an extraordinary low in late December, where short liquidations had surged following the recent price recovery.    Check Out the Latest Prices, Charts, and Data for GALA/USDT! Talk of the Town Mastercard announced the launch of the Mastercard Artist Accelerator program at the Consumer Electronics Show on Jan 7, 2023. The initiative aims to equip musical artists with education, resources, and tools to turn their works into NFTs, as well as grow their fan base in Web3. Mastercard will hand-pick five emerging artists and their fans to kick off the program and experiment with the platform. The accelerator will be built on Polygon, the Ethereum Layer 2 solution that has successfully onboarded many Web2 players onto the blockchain, including Starbucks and Disney. In addition, Mastercard has been an active player in the Web3 space following previous efforts to launch credit cards with crypto-focused companies and partnering with Coinbase on NFT’s payment on-ramp. Check out what else is buzzing in the crypto scene today: U.S. authorities are reported to have started investigating transfers among DCG entities before FTX’s collapse. (Link) FTX liquidators came up with a truce to share notes on FTX’s assets. (Link) Hong Kong remains committed to attracting crypto firms to the city. (Link) Robinhood stock owned by FTX co-founders was seized by DOJ. (Link) Wyre, a crypto payment firm, limited client withdrawal after Metamask removed its mobile aggregator. (Link)   Source: Bybit Blog | GALA Soars Following Rumoured Partnership with The Rock; Mastercard Launches Web3 Music Initiative
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Many Cryptocurrencies Use US Employment Data, Australia Ranks Fourth Crypto ATM Hub

Crypto.com Accelerate the... Crypto.com Accelerate the... 10.01.2023 15:11
Latest U.S. jobs data released; crypto performed well last week. Ethereum’s Shanghai upgrade public testnet planned for Feb. Hong Kong gearing up to provide retail virtual asset trading services Weekly Market Index Last week’s crypto market prices rose slightly by +3.98%. Volume was flat at -0.53% and volatility increased by +36.36%. Weekly Performance Bitcoin (BTC) and Ethereum (ETH) were up +3.4% and +8.1% in the past seven days, respectively. Many cryptocurrencies have been gaining over the last several days after the latest U.S. jobs data released last Friday sparked a Wall Street rally. News Highlights Many cryptocurrencies have been gaining over the past several days after the latest U.S. jobs data release sparked a Wall Street rally. Non-farm payrolls rose by 223,000 jobs in December, which was higher than expectations, but wages grew less than expected. Financial services providers in Hong Kong are already taking the first steps to provide virtual asset trading services to retail investors. Brokers and fund managers have reportedly asked for advice on licensing requirements ahead of the new virtual asset trading legislation. Ethereum developers aim to release a public test network for the Shanghai upgrade by the end of February. Australia overtakes El Salvador to become the fourth largest crypto ATM hub. Australia records 216 ATMs stepping into the year 2023.     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social.         2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.   Decentralised Social Networks: An Overview: Decentralised social networks aim to enable participants to take back ownership of and better monetise their content and data. We explore the project landscape.   Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
The G20 And IMF Are Already Preparing Their Crypto Regulation

Trading Volumes In The Cryptocurrency Market Have Soared By 90%

InstaForex Analysis InstaForex Analysis 11.01.2023 14:29
The starting point of the thaw in the market can be considered the first of January, when Bitcoin began an upward movement. In 11 days, the cryptocurrency reached the $17.4k level and confidently consolidated above the $17k psychological level. Among the nearest targets of the asset are the levels of $17.8k and $18k. Despite the positive developments, the daily chart of the cryptocurrency shows an uncertain price growth at low volumes. A similar situation was observed in mid-December, when the cryptocurrency made a false breakout of the $18k level and began to decline. However, judging by the latest news, the current local upward trend differs from the price movement at the end of 2022. Trading volumes in the cryptocurrency market have soared by 90% over the past day. The indicator reached the usual levels in the region of $30–35 billion. Recall that during the period of protracted consolidation, the volumes did not exceed $10 billion. Another positive signal was another purchase of cryptocurrencies from large international companies. Google purchased large volumes of Solana at $10 and was one of the top 13 owners of the asset. In addition, Morgan Stanley began actively buying shares of Grayscale Bitcoin Trust. As of January 11, the firm had invested more than $3.5 million in crypto assets. Gradually we move on to neutral news, namely the long-awaited speech of Federal Reserve Chairman Jerome Powell. According to the state of the market, we can conclude that the official was cautious in his remarks and did not provoke volatility spikes. Powell's key thesis was the acknowledgement that the global economy has become much more resilient. Read next: Pietro Beccari Will Be The Louis Vuitton’s CEO, Departures Several Top Executives At Rivian| FXMAG.COM This statement can be seen as a homage to the labor market and an effective inflation policy. The next key event for Bitcoin and the cryptocurrency market will be the publication of inflation reports. Data are expected on Thursday, and analysts predict a slowdown in inflation to 6.5% from the current positions at 7.1%. Given the established dynamics of slowing inflation, we can assume that the publication of financial statements is already included in the price of financial instruments. At the same time, the forecasts have become much bolder, which increases the likelihood of their fallacy. Also, we must not forget that Bitcoin is locally overheated, therefore Thursday can be the starting point of a local correction of the asset. BTC/USD Analysis The cryptocurrency has been in continuous upward movement since January 1, 2023. The asset successfully overcame the downward trend line and the 0.236 Fibo level. The next targets for the coin will be $17.8k–$18k. Bitcoin technical indicators are approaching the overbought zone, especially the stochastic, which broke through the 60 level. The RSI is also close to entering the overbought zone. At the same time, there is no increase in buying volumes on the daily chart, which may indicate the completion of the bullish impulse. A similar uncertain move can be seen on the daily chart of the S&P 500. One day, the asset forms the largest candle since the end of November, but subsequently loses to buyers near $4,000. Given this, it can be concluded that the SPX price movement is an impulse surge of trading activity or manipulation by a market maker. Read next: The EUR/USD Pair Maintains A Steady Upward Trend, The Aussie Pair Keeps Close To 0.69| FXMAG.COM Results Bitcoin is gradually passing the peak point of the upward movement as buying volumes are falling. Support from the SPX index looks unconvincing, as does the on-chain activity of the cryptocurrency. Given these facts, the asset needs a new impetus for growth, or a local correction. The publication of inflation reports can be a key moment in determining the further dynamics of the price movement of Bitcoin. With a favorable outcome and an increase in buying volumes, the asset will go to the $17.8k–$18k area..     Relevance up to 11:00 2023-01-12 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/331984
The Bitcoin Fall Will Likely Continue In The Future

The Bitcoin Fall Will Likely Continue In The Future

Paolo Greco Paolo Greco 12.01.2023 08:36
Bitcoin's price remains completely flat below the level of $18,500. Remember that this is the precise scenario that we have discussed numerous times, therefore everything is now proceeding as expected. Bitcoin may remain flat for a few more weeks or months at this point, but eventually, we anticipate that it will drop at least to the level of $12,426. Bitcoin is increasing because the value of the dollar is declining In theory, it is quite challenging to add anything new from the previous week. There was hardly any cryptocurrency-related news, and the exchange rate for bitcoin was not particularly affected by regular macroeconomic reports. Furthermore, even in the foreign currency market, movements that are far from logical are currently being seen, so it is also hard to declare, for instance, that bitcoin is increasing because the value of the dollar is declining. Most likely, we observe a straightforward rising motion inside the flat. Keep in mind that a flat is more than simply a sideways movement. Inside the flat, there could be both growth turns and fall turns. The fact that they alternate and are about the same size says it all. Change to the lower TF and conduct your analysis there if you are having trouble determining the nature of the bitcoin movement on the 24-hour TF. To us, it's as clear as day. Bitcoin is currently trading at $18,500, which is ridiculous from a religious standpoint. Most likely, it will then rebound once more, after which a slow decline of the instrument will start with a target of $15,500, which is currently the lower limit of the side channel. American figures Only American figures stand out among the recent events; they show that in December there were 223 thousand non-farmers and that the unemployment rate dropped to 3.5%. Yesterday, Jerome Powell spoke in Stockholm as well, but he avoided discussing economics or monetary policy. In light of this, neither the US dollar's decline nor the macroeconomic or fundamental background is the main reason why bitcoin is gradually increasing right now. Given that the Fed expects to keep raising the rate to at least 5.5%, its prospects are still very unclear. The US money supply is also continuing to contract as the regulator implements the QT program, which calls for the removal of 3–4 trillion dollars from circulation. Investments will inevitably decline, even though they are currently at a low level. The American stock market is still declining, and in the past five to six months alone, shares of Tesla have decreased by a factor of 2.5. But compared to cryptocurrency, stocks are a lot less risky investment. Bitcoin The "bitcoin" quotes during the past 24 hours have remained below the level of $18,500. We predict that the fall will likely continue in the future, with a target price of $12,426. This might not occur quickly enough, though, as each new collapse was followed by a flat phase, which we are currently experiencing. This does not, however, indicate that the "bearish" tendency has ended.     Read next: Discussion Of Bank Representatives On Financing The Ecological Transformation | FXMAG.COM   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332010
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

According To Bill Miller Failures Of FTX And Celsius Should Not Discourage Investors

Paolo Greco Paolo Greco 12.01.2023 08:43
On the 4-hour TF, it is evident that bitcoin is still moving primarily laterally, although there has been a slight upward slope recently. Remember how bitcoin was traded using the "collapse-flat-collapse" strategy in 2022? Consequently, despite crossing over the upward trend line, a protracted flat can now be seen. The start of a new slide within the flat may be signaled by a comeback from the $17,582 level. The whole crypto industry are still being shared in the meantime The thoughts of numerous billionaires, investors, and specialists on bitcoin and the whole crypto industry are still being shared in the meantime. Bill Miller, a billionaire, responded to a message today with a very intriguing statement, claiming that bitcoin is different from other crypto firms like the insolvent Celsius or FTX. To put it mildly, his words sound weird. The same impact would be achieved by saying, "Bitcoin is not a tomato." Everyone understands the difference between a decentralized cryptocurrency and a cryptocurrency exchange. Since bitcoin can only be purchased through exchanges, it is also evident to everyone that these two ideas are intertwined. Bill Miller said that prospective investors shouldn't be put off by the failures of FTX and Celsius. However, we think that investors who have lost money have the right to turn down new investments made through other exchanges. Given that other exchanges might suffer the same fate as FTX, we think that many potential investors have the right to decline to purchase bitcoin. There is no assurance that your funds won't be diverted for other endeavors, as the FTX example demonstrated, and one day they may choose to conceal the fact that there is no money by referring to a "lack of liquidity" instead of telling you. Bill Miller holds bitcoin personally Bill Miller added that because bitcoin is traded continuously and the Fed poured hundreds of billions of dollars into other markets to keep them from collapsing, the cryptocurrency market is considerably more stable than other markets. Mr. Miller overlooked the fact that the price of bitcoin has dropped by 75% just in the past year. Almost every billionaire's statement, in general, begs a lot of questions and "smells" like at least one more failed pump. Keep in mind that many "experts" who promote cryptocurrencies do so because it is advantageous for them to do so. This increases demand, which drives up the price. Most likely, Mr. Miller holds bitcoin personally. Bitcoin on the 4H  The "bitcoin" quotes on the 4-hour time frame are still fluctuating between $15,500 and $17,582. Therefore, a new wave of bearish movement could occur following the price's recovery from the level of $17,582. Even if the necessary level is attained, the level of $18,500 is close by and will be quite challenging to reach. The price of bitcoin may rise by several thousand dollars, but in the medium term, we anticipate a decline.   Relevance up to 14:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332014
From UFOs to Financial Fires: A Week of Bizarre Events Shakes the World

The Fed Doesn’t Want To Be Responsible For A Needlessly Sharp Downturn

Craig Erlam Craig Erlam 12.01.2023 11:53
European equity markets opened cautiously higher on Thursday, following a mixed session in Asia amid nerves around the US inflation release later in the day. This inflation print has been the main topic of conversation all week. The jobs report last Friday changed the dynamic in the markets and ensured that not only was this CPI report going to be important but in all likelihood pivotal ahead of next month’s Fed meeting. We’ve gone from inflation declining but the labour market being stubbornly tight to both appearing to sing from the same hymn sheet. Cracks are appearing in the economy following a very aggressive tightening cycle that’s leading to cooling demand, prices, and wage demands. Unemployment remains low as employers have been reluctant to lay people off but there’s every chance that will follow. The Fed doesn’t want to be responsible for a needlessly sharp downturn and the lag effect of monetary policy means that is a risk when the central bank is raising rates as aggressively as they have been. Another good inflation report today, particularly on the core side, will give policymakers more than enough reason to slow the pace of tightening further and even lower the terminal rate projections in March if it continues. Read next: The New Disney Drama: Disney Is Opposing Activist-Investor Nelson Peltz| FXMAG.COM Bitcoin buoyed by risk recovery Bitcoin is capitalising on the improvement in risk appetite that we’re seeing in the broader markets, rallying more than 4% today before paring gains just shy of the December peak. After weeks of treading water between $16,000 and $17,000, cryptos have been given new life by the jobs report and the risk rally that has ensued. Another positive inflation reading today could see it trading at levels not seen since the early days of the FTX collapse. ​ For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
The Commodities Digest: US Crude Oil Inventories Decline Amidst Growing Supply Risks

All Eyes On US Inflation Data!, Bitcoin Rebounds

Swissquote Bank Swissquote Bank 12.01.2023 14:29
Today is the most important day of the trading week, in terms of economic data release, as the US will reveal its latest CPI update, and it could be a make-or-break moment for the market sentiment. Consumer price inflation  Consumer price inflation in the US probably eased to 6.5%, from 7.1% printed a month earlier. Core inflation fell to 6% at last release, from a peak of 6.6% printed for October, and is expected to fall further to 5.7% y-o-y.US equities extended gains yesterday, on hope that softening inflation will further boost the Fed doves. Today’s US inflation data will help move things, to one side or the other. But keep in mind that there is room for decent hawkish pricing given that the money markets still price that the US interest rates will top around 4.9%, while the Fed officials are struggling to convince investors that they will go above 5%. Watch the full episode to find out more! 0:00 Intro 0:26 All eyes on US inflation data! 3:27 Why inflation may not ease smoothly this year? 5:51 Some bank analysts see EURUSD at 1.15 7:01 Short sterling? 7:51 Bitcoin rebounds as FTX finds $5bn to repay customers 8:36 Why bonds are better alternative for dovish Fed bets? Read next: The USD/JPY Pair Drop To 130, The Aussie Pair Keeps Trading Above 0.69$| FXMAG.COM Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #CPI #inflation #Fed #China #expectations #USD #EUR #GBP #JPY #crude #oil #copper #Bitcoin #FTX #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH      
Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

The UK Economy Is Still Under Immense Strain, The Bank Of Korea May Be The First To End Raising Rates

Craig Erlam Craig Erlam 13.01.2023 14:48
It’s been another lively week in financial markets and one in which investors have become increasingly hopeful that 2023 won’t be as bad as feared. In a way, the week started with the jobs report the Friday before as it was this that enabled the enthusiasm to build. The labour market has been a major barrier to optimism as the Fed was never going to pivot quickly unless there were signs in the labour market that slack was building and wages cooling. We’re now starting to see that. That optimism has been compounded by the first monthly inflation decline in two and a half years and further sharp annual declines in both the headline and core readings. While the final hurdle to 2% may be the most challenging, there’s no doubt we’re heading in the right direction and the threat of entrenched inflation has greatly receded. Now it’s over to corporate America to potentially spoil the party as the enthusiasm on inflation is not yet matched to the economic outlook. We haven’t seen mass layoffs yet but a number of firms, starting in the tech space but spreading further, have warned of large redundancies in the coming months. The fourth quarter earnings season may bring investors back down to earth with a bang. The start of the year has been fantastic but the rest of it will still be very challenging. More bleak Chinese trade data That’s very evident in the Chinese trade data, as it has in the data of other major trading nations in recent months. Imports and exports both slumped again, albeit to a slightly lesser degree than expected. The drop in imports reflects the Covid adjustment which is likely weighing on demand and the local economy. Exports is a global issue, with those to the US and EU sliding the most, reflecting the challenging economic environment. That may not improve in the near term but there will be a hope that it could in the second half of the year. Can UK avoid recession? The optimists may put to some of the recent data as an indication of some resilience in the economy but I’m not convinced. Take the UK, for example. It may not be in a technical recession after all, with spending around the World Cup enabling a better performance in November, delivering growth of 0.1% after a 0.5% gain in October. Aside from the fact that December could be worse as a result, or some of those gains could be revised out, those numbers don’t change the reality of the cost-of-living crisis and if accurate, it more likely reflects shifted spending patterns as opposed to a more willing consumer. A recession may be delayed but the economy is still under immense strain. The end of the tightening cycle The Bank of Korea may be among the first central banks to bring its tightening cycle to an end, after raising the Base Rate by 25 basis points before removing reference to the need to hike further. This was replaced with a commitment to judge whether rates will need to raise rates depending on multiple factors including incoming data. I think most others won’t be far behind, with in most cases the end coming at some point in the first quarter. All we have to contend with then is the economic consequences of the tightening. BoJ under pressure to abandon YCC And then there’s the anomaly out there. I’m not talking about the CBRT which I just can’t take seriously and that’s saying something at the moment. The Bank of Japan shocked the markets in December by widening its yield curve control buffer around 0% and it’s been paying the price ever since. Another unscheduled bond buying overnight occurred on the back of the 10-year JGB breaching 0.5%, as investors bail on Japanese debt on the belief that the YCC tool is being phased out and will be abandoned altogether before long. This makes the meeting next week all the more interesting. Revival underway? The risk rally over the last week has even lifted bitcoin out of its pit of despair. It goes without saying that it’s been a tough few months for cryptos but the lack of recent contagion in the space, or new revelations, and the risk rebound in broader markets has lifted it off its lows to trade at its highest level since the FTX scandal erupted. It’s trading at $19,000 and traders may harbour some hope of a move back above $20,000, a level once deemed a disturbing low but now potentially representing a sign of a revival. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Bitcoin Has Made A Dynamic And Aggressive Reversal

The Bitcoin Cryptocurrency Started Monday With Local Growth

InstaForex Analysis InstaForex Analysis 16.01.2023 11:06
Based on the results of the previous trading week, it is safe to say that Bitcoin has completed a period of consolidation that lasted more than a month. As a result, the cryptocurrency resumed its upward movement and reached the $21k level. At the same time, it is important to take into account the fundamental difference between the current upward trend, which is expressed in growing trading volumes. After a long pause, large buyers again enter the cryptocurrency market, which favorably affects the capitalization of Bitcoin. Cryptocurrency market comes back to life For 16 days in 2023, the main digital asset won back all the fall in November 2022. Many analysts see it as the end of a bearish trend and the final formation of a local bottom around $15.6k. Quantitative analyst PlanB expressed similar conclusions, while institutional experts expect another stage of BTC price decline. According to network activity data provided by Santiment, large investors resumed buying Bitcoin in early January. As of January 16, whales hold more than 23.5% of the total supply of cryptocurrencies, which is equivalent to 4.57 million BTC coins. CryptoQuant analysts also note a significant net inflow of Bitcoins to crypto exchanges of 4,200 BTC worth $80.3 million. The renewed flows of coins to the exchanges may indicate the normalization of market sentiment and a pullback to normal after the collapse of FTX. At the same time, there is also a negative context, because BTC transfers to exchanges may indicate growing speculative sentiment. In the medium term, this may negatively affect the market and increase manipulative price movements. However, a much more significant factor for the transfer of BTC coins to exchanges may be the desire of investors to fix local profits or break even. Near the $16k level, more than 50% of BTC coins were at a loss, and this figure decreased significantly when the price of Bitcoin reached the $21k level. Read next: The Swedish Real Estate Market Will See Significant Price Drops| FXMAG.COM BTC/USD Analysis Having consolidated above the $20k key psychological level, Bitcoin ended the trading week with a consolidation near $21k. There was no local decline in trading activity over the weekend, which allowed the asset to test the $21.2k level. Subsequently, the bears managed to defend the line and go on a local and successful counterattack. BTC ended Sunday with a slight decline, but a long lower wick indicated the activation of buyers. As a result, the bulls picked up the price near the $20.5k level and resumed their upward movement. The cryptocurrency started Monday with local growth and absorption of the remaining bearish volumes. The price has tested the $21.2k–$21.4k area for the second time, but selling pressure remains as the price is near a two-month high. The technical metrics of Bitcoin are still in the overbought zone but gradually acquiring a flat direction. Stochastic is moving near the level of 95, and the RSI index is 87. To avoid increased volatility and a protracted correction, BTC needs a local correction and consolidation near $20k. Results Bitcoin continues its upward movement, but there is every reason to believe that the current week will be the last within the local bullish trend. The first signals of the transfer of coins to the exchanges indicate a wave of fixation to breakeven/minimum profit. At a minimum, miners will want to lock in local profits to cover running costs. Most likely, Bitcoin will be able to reach the $22.4k–$22.8k area before bear pressure intensifies. With a price correction (necessary), the key task for buyers will be to hold the $20k level. Bitcoin performed well in the attack and once again prompted talk of the end of the bearish trend. However, it is important to take into account the factor of the first mass activation of buyers, which provoked a local overheating of the market. To confirm the end of the bearish trend and the start of the capitalization recovery stage, the asset needs to hold the $20k level, which is key for further growth.   Relevance up to 08:00 2023-01-17 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332360
Visa is experimenting on Ethereum's Goerli testnet, Tether to purchase bitcoin

Societe Generale Took Out A Loan In The Form Of The Stablecoin DAI, A Digital Form Of The Pound Is Being Considered

Crypto.com Accelerate the... Crypto.com Accelerate the... 16.01.2023 11:50
El Salvador passes bill to sell bonds backed by BTC. Societe Generale taps MakerDAO for US$7M DAI loan. Polygon blockchain to undergo a hard fork. Weekly Market Index Last week’s crypto market prices rose significantly by +23.12%. Volume and volatility also increased by +99.69% and +238.74%, respectively. Weekly Performance Cryptocurrencies continue to gain momentum across the board. Bitcoin (BTC) and Ethereum (ETH) were up +23.6% and +22.0% in the past seven days, respectively. News Highlights El Salvador has passed a bill that will allow the country to sell bonds backed by Bitcoin. US$500 million of proceeds from those bonds will be put toward a proposed plan to build a “Bitcoin City”.  U.K.’s Economic Secretary to the Treasury said that a digital pound currency is being considered and a public consultation on the attributes of a digital pound would be launched in the coming weeks. French investment bank Societe Generale took out a loan of US$7 million in the stablecoin DAI from MakerDAO, in what is seen as a significant direct transaction between a TradFi firm and a DeFi project. The bank used home loan bonds as collateral. Polygon (MATIC) announced a proposed hard fork to its blockchain. If approved, the upgrade is set to occur on 17 Jan. It will address gas fee spikes and chain reorganisation. Read next: Lowering The Price Of Electric Vehicles Is Supposed To Be Tesla's Unusual Strategy To Generate Demand In The US Market| FXMAG.COM Recent Research Reports     2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. Alpha Navigator (December 2022): The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive. Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social.         2022 Year Review & 2023 Year Ahead: 2022 has been a ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023.   Alpha Navigator (December 2022): The new year sees crypto outperforming equities and gold. BTC options implied volatilities are subdued while perpetual futures funding rates are positive.   Social Graph and Digital Identity in Web3: Relationships and identities are key elements that make up social networks. In this report, we put a spotlight on the roles that decentralised social graphs and digital identity play in Web3 social. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Price Of Bitcoin Has Already Broken Out Of The Bearish Channel

InstaForex Analysis InstaForex Analysis 16.01.2023 14:23
Blue lines- bearish channel Red lines- horizontal resistance levels Yellow lines- overbought RSI Bitcoin is trading around $20,000-$21,000 price level after the break out and above the short-term trading range it was in for the last few months. Our minimum bounce target after the break out, was the November high around $21,400 pre FTX scandal sell off. Price is now challenging this horizontal resistance level. Price has already broken out of the bearish channel it was in for the last 13 months. Similar to 2019-2020 price is challenging key horizontal resistance and the RSI has reached oversold levels near 90. A pull back and a new higher high would be a very bullish signal. Our minimum expectations are for price to retrace the entire decline. After a break above the resistance at $21,400, we should expect Bitcoin to reach $27,800 where we find the 23.6% Fibonacci retracement of the entire decline. The 38% retracement is at $35,800 and should follow if bulls break above $27,800. Read next:USD/JPY Pair Is Trading Above 128 Again, The Testimony Of Bank Of England Governor Andrew Bailey May Have Affect On The Pound (GBP/USD)| FXMAG.COM Relevance up to 13:00 2023-01-30 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/308769
Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

Bitcoin Is In A Continuous Upward Trend For 17 Days Straight

InstaForex Analysis InstaForex Analysis 17.01.2023 12:50
Bitcoin paused its bullish run near the $21k level due to a significant increase in bearish volumes. Sellers have maintained strong pressure on the asset's price for the third day in a row, but so far, without success. Buyers manage to keep BTC/USD quotes above $21k. At the same time, the price of Bitcoin tested the $20.5k–$20.8k area three times over the past three days, which may indicate its likely breakdown in the near future. The confident positions of buyers may allow the cryptocurrency to continue its upward movement to the levels of $21.5k–$22k. CryptoQuant analysts believe that not all institutional investors share the general euphoria. The company's experts came to the conclusion that a significant part of large investors expect an increase in BTC trading volumes in order to return to the market. At the same time, Bitcoin continues to update the historical maximum of mining difficulty. The indicator rose by 10.3% and exceeded the mark of 270 EH/s. Keeping the price above $20k makes the economic situation easier for mining firms, but the high cost of energy resources may encourage companies to sell BTC at a bargain price. Read next:Alibaba And Its Share Buyback Program Which Is Supported By Ryan Cohen, Microsoft Corp. Plans To Incorporate AI Tools| FXMAG.COM Bitcoin and the stock market The activation of trading activity is also observed in the stock market, where the main assets show strong growth. The market's flagship index, the S&P 500 Index, maintains correlation with Bitcoin and updates local highs. Most likely, the current dynamics of the stock market price movement will continue, as Goldman Sachs reports on the active closing of short positions. After many months of falling, such movements of investors look like an adaptation to new realities. And this means that after several large liquidations, the belief in a bullish trend has strengthened. This means that we should soon expect a local correction or a change in trend towards local low. BTC/USD Analysis Bitcoin has been holding positions near the $21k level for the third day in a row. Also, the cryptocurrency is in a continuous upward trend for 17 days straight. BBG experts note that the relative strength index on the daily timeframe has reached the zone of a two-year extreme zone. This confirms our conclusion that Bitcoin is locally overbought. Despite this, buying volumes remain at a high level, and the unsuccessful attempts of the bears to push the price below $21k are clear evidence of this. At the same time, note that the price slowed down the upward movement and faced large sales volumes. First of all, this is due to the achievement of the key zone, from where the BTC price began to decline towards the local bottom due to the collapse of FTX. Also, do not forget that the index of fear and greed has just begun to grow in the direction of greed, and there is a large layer of bears on the market, ready to open short positions. The market has been acting in a certain way for almost 10 months, and one massive bull rally is not going to change things quickly. On the daily timeframe, the formation of the bullish "cup-and-handle" pattern is being completed. The price completes the "handle" element, after which it can be argued that Bitcoin is able to reach the $28k level following the results of the current bull run. At the same time, the technical metrics of the cryptocurrency remain in the overbought zone, but are increasingly turning in the flat direction. This is due to the growing pressure of sellers, as well as overbought cryptocurrency. Results Bitcoin confidently holds positions near the $21k level, which allows betting on further growth of the asset's price. Given the overheating and other third-party factors, a correction will catch up with Bitcoin near the $21.5k–$22k level. The corrective movement may start earlier, and the market should be ready for a new plunge below $20k. The current growth has provoked the appearance of a large number of orders below $20k, and therefore we should expect a further drop in price to at least $18k.   Relevance up to 09:00 2023-01-18 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332498
Despite The Improvement In The Outlook Due To Falling Energy Prices, The Economic Environment In Britain Remains Difficult

Today's UK Data Should Ensure The Bank Of England Continues Tightening

Craig Erlam Craig Erlam 17.01.2023 16:51
Equity markets are a little softer on Tuesday as investors await more earnings from the US and closely monitor events in Davos. Stocks have had a strong start to the year on the belief that interest rates may not go as high as feared and even move into reverse later in the year. While that is looking plausible in the US, it may not be the case in Europe where policymakers are seemingly still some way from considering the tightening cycle complete. The ECB, for example, was very late to the party and could be at least three 50 basis point hikes away from the terminal rate which we could see around the middle of the year. Inflation in the euro area declined last month but core inflation is still on the rise which is why we’re continuing to see pushback to the idea of slower hikes and cuts this year. That narrative may change once the data moves in a more positive direction. Pressure mounting on BoE In the UK, the data remains quite troubling. Labour market figures released today showed earnings growth accelerating to 6.4%, meaning while we’re still seeing negative changes in real terms, as far as the central bank will be concerned they’re still far too high to be consistent with inflation returning to target. And the longer it goes on, the more stubborn inflation will become. That should ensure the BoE continues tightening by 50 basis points next month, at which point we’ll get fresh economic projections. Encouraging figures from China The data from China overnight was broadly positive even if it confirmed one of the slowest annual growth rates in decades. The economy ended on a stronger note despite the surge in Covid infections as the leadership suddenly pivoted from a zero-tolerance approach to allowing it to run free. That was expected to take a heavy toll on the economy initially but the figures for December from retail sales to industrial production and fixed asset investment suggest a much more modest hit. That may offer hope that the opening months of the new year will not be as bad as initially feared. Bouncing back Bitcoin seems to have been one of the big winners from the new year risk rally, after struggling for much support in recent months as a result of the FTX collapse. Perhaps it’s making up for lost time as traders look to capitalize on such heavily discounted levels compared with the 2021 peak. That said, it will take a lot more than a risk revival to get traders fully back on board. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds
DPX Token Registered A 24-Hour Return Of 11.11%

Thank Of Metaverse Seoul - A Virtual Replica Of Seul, South Korea Is Leader Of Blockchain Technology Adoption

InstaForex Analysis InstaForex Analysis 18.01.2023 11:49
South Korea continues to be at the forefront of blockchain technology adoption and integration as it launches a virtual replica of its capital, Seoul, which is the first phase of a project dubbed as Metaverse Seoul. The project is reportedly the world's first publicly available meta-universe platform supported by the city. In a press release announcing the project, Metaverse Seoul is described as a three-part project that is expected to be completed in 2026. In the first phase, Metaverse Seoul will focus on improving the efficiency of public administration services and will allow citizens to use personal avatars to explore the platform and access various services such as citizenship confirmation, tax advice, mentoring for young people and a support center for stranded businesses. The second phase, which is expected to be launched in 2024, will expand the services available, including real estate advice and connecting foreign investors with local businesses. The third and last phase will focus on integrating virtual and augmented reality technologies to manage the city's infrastructure. There are also plans to introduce blockchain technology, including cryptocurrency   Relevance up to 09:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332620
UK Budget: Short-term positives to be met with medium-term caution

Data Shows That The Bank of England Is Needing To Keep Raising Interest Rates

Craig Erlam Craig Erlam 18.01.2023 14:47
Equity markets are marginally higher in Europe, with the Nikkei outperforming in Asia on the back of a much weaker yen. BoJ stands firm The Bank of Japan has decided to stand its ground against market forces that have forced it to purchase huge amounts of JGBs in order to defend its yield curve control upper band. Despite mounting speculation that it could be prepared to further tweak the tool or abandon it altogether, the central bank has stubbornly dug in its heals and seemingly prepared itself for another onslaught in the bond markets. The surprise decision last month to widen the threshold in which it will allow the 10-year yield to trade has further fueled speculation that it’s planning to phase out YCC, so rather than ease the pressure on the central bank as it hoped, it has intensified. In standings its ground today, it’s effectively invited the backlash and the yen has been hammered as a result. Inflation eases but still far too high UK inflation eased slightly in December, the second month in which it has fallen, indicating that it has peaked and barring another surge in energy prices, it could now steadily decline. That will come as a relief to households and businesses suffering the cost-of-living squeeze although, with the headline CPI still above 10%, there’s still obviously a long way to go. The Bank of England now finds itself in the uncomfortable position of needing to keep raising interest rates as inflation is still more than five times its target. Even core inflation is above 6% and we haven’t really seen much progress on that front. Markets are pricing in another 1% of rate hikes in the coming months but if inflation remains stubbornly high, they may have to do more. Especially if the economy shows the kind of surprising resilience that it appeared to in the fourth quarter. Read next:The Japanese Yen (JPY) Weakened, The Aussie Pair Is Trading Above 0.70$| FXMAG.COM Steadies after huge surge It’s been a phenomenal week for bitcoin, up around 20% and looking in a far healthier position. The lack of further contagion in the aftermath of the FTX collapse and the surge in risk-appetite has seen a flurry of support for cryptos which have had a rough few months to put it lightly. Well, they’ve made up for lost time and bitcoin is now steadying above $21,000. Whether it can significantly build on this rebound is another thing but the fact that it’s trading back in the pre-FTX range will come as a huge relief to the industry that will have feared further plunges or negative headlines. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
National Australia Bank Is Driving Digital Economy Innovation By Creating The AUDN Stablecoin

National Australia Bank Is Driving Digital Economy Innovation By Creating The AUDN Stablecoin

Kamila Szypuła Kamila Szypuła 19.01.2023 13:20
National Australia Bank has become the second largest bank to create a stablecoin called AUDN to enable its business clients to settle blockchain transactions in real time using Australian dollars and highlighting the role of banks in driving innovation in the digital economy. Moreover, events in Davos continue to surprise and are constantly in the spotlight. In this article: Greta Thunberg accuses the political and business elite Another difficult year for the construction industry? AUDN- Stablecoin Created By National Australia Bank Greta Thunberg accuses the political and business elite Greta Thunberg is a Swedish environmental activist who is known for challenging world leaders to take immediate action for climate change mitigation. Now she has presented her activities in Davos. The four climate activists arrived in Davos after writing an open letter to the CEOs of fossil fuel companies via the Avaaz non-profit website. Thunberg, Nakate, Gualinga and Neubauer called on the leadership of the energy giants to immediately stop opening new oil, gas or coal extraction sites. Swedish climate activist Greta Thunberg accused the political and business elite at the World Economic Forum in Davos, Switzerland on Thursday of putting their own interests and short-term profits ahead of people and the planet. Greta Thunberg says Davos prioritizing greed and short-term profits over people and planet https://t.co/DEyzDTN6jv — CNBC (@CNBC) January 19, 2023 Another difficult year for the construction industry? The construction industry was and is one of those most affected by the fight against inflation. The prices of raw materials grew at a significant pace. As a result, sales increased. Expectations are not too good for this year either. Geberit expects 2023 to be a challenging year for the European construction industry. Rising interest rates led to a decline in sales in this market, as most preferred to renovate rather than buy a new home. Pipemaker Geberit sees tough 2023 for Europe's builders after sales dip https://t.co/HstnO8Ork6 pic.twitter.com/xrJ2lIgFBL — Reuters Business (@ReutersBiz) January 19, 2023 AUDN- Stablecoin Created By National Australia Bank The continued interest of banks in blockchain technology to improve financial markets infrastructure comes despite the 2022 horror for crypto markets, culminating in the collapse of crypto exchange FTX. The cryptocurrency market is constantly evolving. New ones appear. Now one of Australia's major banks, National Australia Bank, has announced the launch of the AUDN stablecoin. According to information, AUDN will be based on ethereum and blockchain algorithm. The stabeecoin will enable users to make real-time payments in blockchain technology, using the country's currency - the Australian dollar. AUDN will probably be rolled out in the middle of this year. Furthermore, NAB and ANZ work closely with financial regulators when stablecoin rules are developed. Reserve Bank Chairman Philip Lowe said last month that stablecoin regulation must be a priority and should be treated like bank deposits.The government is considering a cryptocurrency regulation regime, but it is unclear whether stablecoin regulation will be part of the original law. NAB and ANZ are not the only local players developing Australian dollar stablecoins. Another cash-backed stablecoin, AUDE, was created by non-bank company Ettle and was also introduced late last year, including to the retail market. NEWS: National Australia Bank (@NAB), one of the largest Australian banks, has created a stablecoin called AUDN.📰 https://t.co/iJVTndtwvR pic.twitter.com/8wpzFzA8Jg — CoinGecko (@coingecko) January 19, 2023
Bitcoin Has Made A Dynamic And Aggressive Reversal

Bitcoin Outperforms Even Perfectly Starting Gold

Marek Petkovich Marek Petkovich 20.01.2023 11:03
The crypto industry has two sides: scammers and suckers. When the first ones are exposed, they can organize a new project. But all this does not mean that it is impossible to earn money on cryptocurrencies. The 27% BTCUSD rally proves it can. Bitcoin posted the best weekly performance since February 2021 and simultaneously marked the longest rally since November 2013. If it closes January at current levels, it will be the second highest performance in history after a 31% rally in the first month of 2020. Daily dynamics of Bitcoin The success of bulls on BTCUSD led to an increase in the capitalization of the cryptocurrency sector from $830 billion to $1 trillion. The figure is still very far from its peak of $3.2 trillion, which took place in November 2021, but fans of the token are sure: it's a bad start! In fact, the nervousness that characterized the crypto market in 2022 did not disappear in 2023. Just as the news of the bankruptcy of FTX disturbed the minds of investors last year, now they are worried about a similar procedure from the crypto platform Genesis, a subsidiary of the Digital Currency Group. You can convince yourself for a long time that Genesis is the last domino that fell after Terra, which initiated the contagion, and that its bankruptcy is already embedded in BTCUSD quotes, but is it really possible to believe this? Old scammers will find the opportunity to create new projects. However, the Bitcoin rally convinces that people are more inclined to express "bearish" views but act bullish. On the Binance exchange, the average volume of transactions with the analyzed pair increased from $700 to $1,100, which may indicate that the whales are increasingly starting to look into the crypto market. It is not surprising because Bitcoin outperforms even perfectly starting gold, and the previous resistance in their ratio has turned into a powerful support. It seems that BTCUSD still found the bottom. Dynamics of the Bitcoin-Gold Ratio In my opinion, the main driver of the rally of the leader of the cryptocurrency sector is the changed macroeconomic background. The slowdown in the rate of the Fed's monetary policy tightening inspires hope for a soft landing of the U.S. economy. Falling gas prices allow the European economy to pleasantly surprise everyone, including the ECB. Finally, the opening of China sets fans of earning assets in a positive mood. Money is flowing into stocks and bonds, as well as emerging markets. And Bitcoin is one of the main beneficiaries of improved global risk appetite. Its leadership is due to low expectations. The crypto winter, with its capitalization shrinking by more than $2 trillion and the BTCUSD quotes falling by 70%, has turned Bitcoin into a market of pessimists. When the weather improved a little, they immediately changed their shoes. Technically, the exit of the analyzed asset from the consolidation range of 15,500–18,000 is a good sign for the bulls. They are in control. Consolidation of BTCUSD above the pivot points 20,590 and 20,670 is a confirmation of this. The rally risks restarting if it breaks above 21,200.   Relevance up to 08:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332836
In Crypto, You Could Prove You Own A Private Key Without Revealing It

Educating Retail Investors On Crypto Investment Literacy Is Essential To The Industry’s Long-Term Growth

ByBit Analysis ByBit Analysis 21.01.2023 10:11
Introduction In 2020, the crypto industry saw a bullish climate, attracting many investors into the Web3 and crypto world. As such, the current bear market might be a first for many. There is no doubt that the crypto winter is currently in full swing. The market capitalization of cryptocurrencies has fallen from $3 trillion in November 2021 to less than $1 trillion today. However, it is important for investors to note that the crypto market, just like the market for any other traditional assets, has cycles where unpredictable volatilities and fluctuations in asset prices are inevitable. The speed and magnitude of price drawdowns in the current market have caught many retail investors off guard, which in turn revealed the need and importance of crypto investment literacy and how it could help investors manage their portfolios in such times. Unfortunately, compared to institutional investors, most retail investors have inadequate crypto investment literacy, leaving them underprepared in the face of market volatility, thus suffering unintended losses. As such, Bybit sees the necessity to dive into the user journey of retail investors and their crypto investment literacy. In the process, we will introduce the crypto industry’s first crypto investment literacy framework and highlight key findings based on a survey to understand current crypto investors’ investment literacy. We also hope to equip all existing and prospective crypto investors with adequate and appropriate investment literacy. We strongly believe educating retail investors on crypto investment literacy is essential to the industry’s long-term growth. Journey with us as we present you with findings on current perceptions and behaviors in the crypto market and a proper crypto investment checklist. Methodology In November 2022, Bybit and Toluna embarked on a journey to better understand the consumer journey of crypto investors. As part of the process, 10,500 unique respondents in 19 markets, with 1,748 identified as ‘crypto investors’ were surveyed. To ensure representativeness across each market, we set a quota per national representation among the following categories: Ages from 18 - 64 years, SES, and Urban vs. Rural regions. The purpose of our study is to: • Provide a global view on how crypto investors perceive centralized exchanges, KYC, and whether the pursuit of decentralization negates their trust in centralized exchanges. • Provide an in-depth overview of current retail investors’ crypto investment literacy and whether there are any significant differences amongst countries, markets, and generations on A) crypto investors’ due diligence behavior; B) crypto investors’ investment ambition and behavior. Crypto Investment Literacy Framework Before diving into useful practices one can take to enhance their crypto investment literacy, one should first understand the common components of an investment journey and how they are important. For typical crypto investors, there are three main milestones. First, their decision to invest in crypto, second, choosing a provider or project, and last but not least, how they manage their portfolios. Thus, we have created a Crypto Investment Literacy Framework to flesh out what each milestone entails, why it is important, and what we can learn to better our own investment literacy. This article is part of the report  
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

CEXes Have Played A Significant Role In Enhancing Investment Literacy For New Crypto Investors

ByBit Analysis ByBit Analysis 21.01.2023 10:12
Global Score Card Investment Ambition and Behavior After understanding investors’ consideration towards crypto investments, we take a closer look at what investors try to achieve with crypto investments and their investment horizon. 1 in 3 correspondents invest in crypto due to its growth and wealth accumulation potential. 46% of crypto investors are in it for the long run, with an investment horizon of 7 months to over 2 years. Boomers, Gen X and those from developed countries are more likely to HODL for longer, by 6 months at most. Summary After a gaining deeper insights into the user journey of crypto investors and analyzing their responses, we see that the investment literacy of crypto investors are advancing with more room to mature. The bifurcation of centralization and decentralization is not clear-cut, despite holding onto ideal views of a completely decentralised space, crypto investors have understood the necessity of regulation. In addition, CEXes have played a significant role in enhancing investment literacy for new crypto investors by creating informative and educational content for their users. However, the findings on due diligence and investment behavior shed light on areas of investment literacy in which investors can make improvement on. When making investments, Investors placed high emphasis on reputational factors, moreover the time spent on due diligence is far from sufficient. Younger generations have also shown to be less informed when making investment decisions. As a leading crypto exchange, Bybit is fully committed to enhancing crypto investors’ investment literacy. As such, we have prepared an investment procedure checklist to strengthen your crypto investment literacy before your next investment. How to Strengthen Your Crypto Investment Literacy 1. Find Your Objective Crypto’s potential for long-term growth and diversification from traditional assets are appropriate for most users. On the other hand, when deciding to engage in short-term investments, it is crucial to identify your investment constraints, including but not limited to the maximum drawdown you can tolerate, caps on a single token’s concentration, or maximum leverage. 2. Find Your Investment Strategy Develop your investment strategies based on your expertise, whether long, short, or market-neutral. New crypto investors, however, are advised not to short frequently in order to manage risk. Harness different instruments, spots, options, futures, and perpetual to hedge risks or enhance returns. 3. Set Aside Funds for Investment Allocate an appropriate amount of investable assets to crypto investments based on your background, investment objectives, investment constraints, and investment horizon. 4. #DYOR As the crypto space grows, there will be an abundance of projects. As such, it is important to perform more comprehensive due diligence before investments to sieve out unsustainable ones from those that are profitable. Retail investors should spend a few days on DYOR to fully understand a token project. Research from Bybit or other research agencies may facilitate understanding, investors should take note to distinguish facts from opinions while reading. 5. Deep Dive into Potential Projects Once you’ve picked your project of interest, ensure that you review the projects’ technology backup, tokenomics, performance, competitor analysis, valuation, etc., on top of founders’ or backers’ reputations. Take heed of venture capitalists’ investment cost as an anchor of the token project’s fair valuation. 6. Find Your Trading Platform There are many ways one can trade crypto. However, when engaging with DeFi platforms, one might require more crypto knowledge as compared to trading on a centralized exchange. Most centralized exchanges have a variety of product offerings covering spot, derivatives, and structural products. Take note the chosen exchange’s proof-of-reserve (POR) before depositing your funds. Check out Bybit’s POR on Nansen and DefiLlama. 7 . Read Crypto Twitter Have ongoing monitoring with regular revisits of your crypto investments. Watch out for token-specific news, industry news, and macroeconomic updates. A common platform to update yourself would be Crypto Twitter. Alternatively, check out Bybit’s Daily Bits. Remember: No FOMO, No FUD. Execute your trading according to the pre-set investment objectives, constraints, strategies, and horizon. Do not let emotions make decisions for you. This article is part of the report
There Are Many Ways To Join A Crypto Community

Boomers Seem More Sophisticated In Terms Of Prioritizing Tokenomics

ByBit Analysis ByBit Analysis 21.01.2023 10:12
Global Score Card Dimension 1 Interests and Attitudes Providing a wide range of trading tools and simplified procedures, CEXes are often the first stop for many new crypto investors. As such, we dive into how retail investors perceive the centralization and regulation of CEXes. In addition, we also explored the trust of investors in web2 and web3 players and their safety awareness. 1 in 2 investors are undeterred by stricter regulations. KYC is commonly misunderstood to add little value to the CEX user experience. However, KYC is a useful tool for crypto exchanges to prevent cyber crimes and hacks, which ultimately contributes largely to the safety and security of the ecosystem. However, more than 50% of participants have little to no preference when it comes to exchanges using KYC verifications. 1 in 4 investors are willing to accept CEXs regulation for greater safety over their investment The crypto industry is a growing one where imperfections exist. As a result, we asked our correspondents which they would prefer trading off for greater safety over their crypto investments. 1 in 2 investors calls for more centralized control for wider Web3 adoption Our study suggested that concerns over the lack of regulation to prevent cybercrimes, online abuses, and misinformation are the top barriers to Web3 adoption. KYC can serve as an effective tool to address these concerns. In an ideal world, it is understandable why some might oppose KYC verifications. However, in reality, the abuse of the system by malicious individuals needs to be prevented. Thus giving rise to the need for such forms of protection, not just for the exchanges but for the users. CEXes score the highest on trust, 15% higher, over NFTs and DeFi. Crypto investors trust CEXes more than other web3 players, large institutions, and even governments. As an increasing number of investors venture into the crypto market, a growing population of people seem to have more trust in Web3 than in Web2. However, crypto investors put lower scores on NFT and DeFi than most Web2 players, suggesting their safety concerns in a decentralized environment. In fact, 3 in 5 DeFi believers diversify, placing their trust in CEXes too. CEXes and DeFi are not mutually exclusive. Crypto investors’ trust in one does not negate their trust in the other. It is common to think that investors who completely trust DeFi will distrust CeFi. Interestingly, our findings indicate the opposite. DeFi believers (those who “completely trust” DeFi) still put high trust scores on CEXes, with 89% of crypto investors putting at least 4 out of 5 trust scores, debunking the myth that centralization and decentralization cannot go hand in hand. Maturing Crypto Investment Literacy Retail crypto investors have become familiar with services from CEXes, thus placing high trust in CEXes. After all, CEXes is their first stop after entering the space. CEXes and DeFi are not mutually exclusive, and retail investors usually do not start exploring DeFi until they gain sufficient crypto knowledge. Their attitude towards CEXes and regulation reflects a maturing investment literacy. Global Score Card Due Diligence Behavior After understanding investors’ attitude towards CEXes, regulations and other industry players, we look into their due diligence behavior before depositing funds in CEXes and investing. This would give us further insights into current investors’ crypto investment literacy. 34% of Boomers spend a few days on DYOR, 50% more than other generations. 64% of North American investors spend less than 2 hours or don’t DYOR at all. Doing one’s own due diligence is a crucial step before making investment decisions. However, 2 out of 5 crypto investors spend less than 2 hours in due diligence before making their investments. When choosing a token project, 30% more investors prioritize reputational factors as compared to technical factors. A comprehensive review of a token project entails consideration of technical factors, reputational factors, roadmap, categories, etc. Our study indicates that investors have prioritized reputational factors over other more fundamental factors, suggesting that more education is needed for investors to understand that technical factors drive more value to token projects than reputational factors Boomers are 20% “savvier” than other generations, as they focus more on technical factors. LATAM prioritizes the consensys algorithm as a key factor, while North America emphasizes the website aesthetics. Regarding generation differences, boomers seem more sophisticated in terms of prioritizing tokenomics more than other generations. Contrary to how token projects are chosen, factors regarding the day-to-day business practices of CEXes are regarded 30% more than reputational factors.   This article is part of the report
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Bitcoin May Continue Its Upward Movement This Week

InstaForex Analysis InstaForex Analysis 23.01.2023 14:25
Bitcoin ended the previous trading week with the largest bullish candle in the past two months. Over the weekend, the situation did not change dramatically, but buyers tried to build on the bullish success. However, no significant results were achieved, and the price spent the weekend in consolidation near the $23k level. There is no doubt that the current events are the result of the completion of the main stage of the consolidation cycle. Bitcoin is systematically making bullish breakouts of difficult resistance zones, leveling the bearish sentiment in the market. The bull trend is still strong Santiment experts believe that the cryptocurrency's current upward movement was made possible by a successful period of redistribution of BTC coins. Analysts also report that a large group of addresses with balances of 1,000–10,000 BTC played a significant role in the rally. Big capital accumulated more than 64,000 BTC in a month and a half of consolidation, which is equivalent to $1.46 billion. At the same time, we have repeatedly mentioned that smaller addresses also actively participated in the accumulation. As a result, we see that the period of redistribution and absorption of BTC coins by long-term investors is coming to an end. At the same time, it is important to note that the current trading activity, which remains in the region of $25 billion per day, is still not enough. According to the latest statistics, about 75% of all existing BTC remain stored on cold wallets. This reduces Bitcoin's bullish potential, but at the same time, points to the cryptocurrency's fundamental value, as more than 14 million BTCs are safe and cannot affect the market. That said, there is no doubt that more institutional investors will return to the market as the cryptocurrency price recovers. A key signal for the upcoming rally will be Grayscale's performance. Given the recent FTX-related events and the still high volatility of the crypto market, "whales" prefer to acquire BTC through investments in familiar instruments—stocks. Given these facts, we can conclude that the closer the market is to the next bullish rally, the greater the growth of Grayscale shares we will see. Another important factor that indicates the end of the bear market is the macro pattern of the BTC price recovery movement. The current price movement of Bitcoin is fully consistent with similar situations in 2012 and 2016. As of January 23, the cryptocurrency fully follows the route from the local bottom to the gradual formation of a new value record. BTC/USD Analysis Noting the fundamental factors behind the growth of the cryptocurrency, it is important to highlight the SPX index, which ended the trading week on a high note. The asset has formed a bullish engulfing pattern and may continue its upward movement this week. The correlation between SPX and BTC remains, but lately we have seen the crypto asset exhibit more independent behavior. Given this, we can assume that the relationship between Bitcoin and the stock index may decline soon. As for the technical picture, Bitcoin made an unsuccessful retest of the $23.4k level over the weekend. At the same time, the asset has finally completed the formation of the "cup and handle" pattern, which indicates the continuation of the upward movement. The ultimate potential for a cup and handle pattern is $28k. However, the next few days will show how much market sentiment will change, and if euphoria occurs, the pattern may go through local price drops. Institutions are entering the market again and dormant market makers are becoming more active, so you should be prepared for increased volatility and an increase in the number of market manipulations. Results Bitcoin is still heavily overbought, but this does not affect the bullish potential of the cryptocurrency. At the same time, the asset will most likely continue to grow by the end of the current week due to the celebration of Chinese New Year, and therefore local euphoria will reign in Asian markets. Given this, Bitcoin will have time to test the $23.5k level and may move further towards $24k. However, the reporting period will start next week, including the Fed meeting. By that time, market sentiment will finally get bogged down in greed, and we should expect a local correction to the levels of $20k–$21k.     Relevance up to 11:00 2023-01-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/332995
Bitcoin Maintains A Steady Bullish Potential

Bitcoin Maintains A Steady Bullish Potential

InstaForex Analysis InstaForex Analysis 24.01.2023 11:57
Despite the obvious overbought, Bitcoin continues its upward movement. The asset broke through the $23k level, where the price is consolidating for further upward movement. At the same time, there is no significant increase in daily trading volumes, which may indicate a weakening of the bullish trend. The $23k–$23.4k resistance zone does not allow the cryptocurrency to continue a confident bullish rally, and the slowdown in the upward trend of trading volumes complicates the situation. Another reason for Bitcoin's slowdown may be important economic reports that will appear this week. Today, the publication of Microsoft's financial statements is expected, and its results will have a direct impact on stock indices, and therefore on Bitcoin. Read next: Salesforce Is Being Tested As Its Growth Slows Down| FXMAG.COM Also, on Thursday and Friday, the indicators of the durable goods market and the level of core inflation will be released. All these publications will be a prelude to the Fed meeting next week, and therefore we can expect a gradual increase in volatility in key markets, including cryptocurrency. Fundamental incentives for further growth At the current stage of the price movement, it is extremely beneficial for Bitcoin to maintain a high level of correlation with stock indices. For example, Carlson experts note that the end of January is historically one of the strongest periods in the stock market. As a result, SPX broke through the $4,000 level, and Bitcoin climbed above $23k. At the same time, CoinShares notes a significantly increased interest in financial products based on cryptocurrencies. The inflow amounted to $37 million, which is also the result of a local thaw in the global economy. JPMorgan experts, analyzing the state of the global economy, change the pessimistic forecast, adding a little hope to it. The bank's analysts believe that 7 out of 9 classes of financial assets indicate a decrease in the probability of a recession in the United States to 50%. Recall that at the end of 2022, JPMorgan believed that the probability of a recession in the United States was 85%–100%. A similar opinion was expressed by Philadelphia Fed President Patrick Harker, who said that the agency predicts U.S. GDP growth in 2023 by 1%. Thus, the financier believes the United States may avoid an economic recession. At the same time, JPMorgan analysts note that in the near future we should expect profit-taking on stock instruments. The same applies to cryptocurrencies because the growth of the asset in January allows, at least, to fix a breakeven. BTC/USD Analysis In a fundamental way, nothing has changed on the Bitcoin daily chart. The cryptocurrency is in a consolidation phase near the $22.9k–$23.1k area. The bearish positions remain strong, as evidenced by the retest of the $23k level for four days in a row without visible success. At the same time, the bears fail to develop a downward trend, as buyers instantly absorb volumes near the $22.9k level. This indicates a strong bullish trend and an early breakout and consolidation above $23k. In the medium term, Bitcoin remains extremely overbought. The technical RSI and Stochastic indicators have been moving above the 85 levels since the beginning of January, and the stubbornness of the bulls will eventually lead the market to a deeper correction. Results Bitcoin maintains a steady bullish potential, which greatly increases the full-fledged breakdown of the $23k level in the coming days. Despite the need for a correction, the asset will continue to hold the $22.9k level and move upward. At the current stage, BTC correction is not expected, as there has been a significant activation of buyers. Considering this local decline, we should expect it in the presence of a combination of factors, including mass profit taking, increased volatility and the activation of large sellers.   Relevance up to 10:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333101
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Microsoft Was Recently Identified As One Of WEF's Collaborators

Jakub Novak Jakub Novak 24.01.2023 15:20
After the rapid rally that occurred between January 18 and January 20, bitcoin and ether are still in the same position. Only this will enable bitcoin to keep expanding while investors and traders wait to see what direction the Federal Reserve System will take the following week. Microsoft CEO Satya Nadella gave his thoughts on the metaverse and how this technology would affect the future. According to Nadella, the sense of presence gained through interactions with metaverse technology is "forever changing the rules of the game" in business. In addition, he expressed his support for the metaverse, pointing out how much more socially interactive it is than previous technologies. According to Nadella, the most significant aspect of this technology is the sensation of presence that develops even when you interact electronically. In Nadella's opinion, COVID-19 altered the environment for meetings, compelling more individuals to use video conferences. So it makes perfect sense that newer technologies will be used. The metaverse and other emerging technologies have the potential to significantly alter contemporary civilization. Microsoft was recently identified as one of WEF's collaborators in the creation of the Global Collaboration Village, an online version of Davos. This digital environment serves the organization's goal of enabling the participation of world leaders in ongoing discussions of politics and global issues. Microsoft is also making active investments in metaverse-related firms to collaborate with them on some of its technological solutions for enhancing virtual worlds. The business disclosed in October that it was modifying its cloud infrastructure for use in applications for the metaverse. As we can see, investing in the metaverse's future and the businesses working to achieve it is a very interesting idea. Investors pay particular attention to the support and development of these initiatives because of the involvement of numerous companies in the cryptosphere. The tokens and altcoins of these companies will undoubtedly immediately skyrocket in price and gain weight once the crypto-winter is over. Regarding the technical picture of bitcoin today, the level of $23,180 is already the closest goal for the bulls. If you fixate on it, you'll create a new bullish trend with the potential to update $23,680. The $24,420 region will be the farthest objective, where significant profit-taking and a rollback of bitcoin may take place. In the case of renewed pressure on the trading instrument, protecting the $22,520 level will be of utmost importance because a breach by sellers would be detrimental to the asset. This will put pressure on bitcoin and create a direct path to $21,840. The world's first cryptocurrency will "drop" in the neighborhood of $21,320 if this level is broken. The breakdown of the nearest resistance at $1,693 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. The market will undergo considerable adjustments as a result of this. The balance will be returned to the ether upon consolidation above $1,693, with the possibility of increasing up to a maximum of $1,758. A second target will be in the $1,819 range. The $1,504 level, which was just formed, will come into play when the pressure on the trading instrument resumes and the $1,600 support collapses. If it succeeds, the trading instrument will rise to a minimum of $1,410. It will be difficult for bitcoin owners to trade below $1,320 (just $1,320).     Relevance up to 13:00 2023-01-25 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333125
Bitcoin Has A Sign Of The Sideways Regime

Bitcoin Can Expect A Consolidation Movement In The Coming Days

InstaForex Analysis InstaForex Analysis 25.01.2023 14:26
In three full weeks of upward movement, Bitcoin made a bullish breakout of several key resistance levels. The price confidently consolidated above $22.5k, but later the asset began to have local problems. Bitcoin approaches a correction Above the $22.5k level, the sellers' resistance began to build up, and the longs/shorts ratio is gradually approaching consensus. At the same time, news that Bitcoin has exceeded the average cost price is emerging, which has also strengthened the bears' position. To top it all off, after the all-time BTC outflow at the end of 2022, dormant wallets began moving assets to exchanges. This happened as part of the process of fixing local profits or closing positions at breakeven. All these movements are a classic market reaction to a strong bullish trend after months of consolidation and decline. Also, do not forget that BTC technical indicators have been in the overbought zone for more than a week. Having made a series of unsuccessful retests of the $23k level, the positions of the bulls began to weaken. Over the past five days, five candles with long lower and upper wicks have formed on the Bitcoin daily chart, indicating a fight for the initiative. Bitcoin and SPX The correlation between the SPX index and Bitcoin weakens from time to time, which allows the assets to implement their own price movement scenarios. This process will continue as buyers become more active. As a result of yesterday's trading day, assets again strengthened the level of correlation and ended the session in a similar situation. At the same time, SPX shows greater stability, leveling the selling pressure and holding the $4,000 level. This is where the excess volatility of Bitcoin, which showed more active and profitable growth in a shorter period of time, comes into play. As a result, the cryptocurrency was more overbought in all technical metrics, and therefore we can assume that BTC will set the dynamics of the movement, and the SPX index will follow it after a few days. BTC/USD Analysis Bitcoin network activity charts show that mid-January saw an unprecedented surge in investment activity over the past six months. As a consequence, the coin managed to form several large green candles. This process was also confirmed by the upward dynamics of the asset's trading volumes. However, as of January 25, there is no doubt that the local peak of trading activity has been passed. Network metrics start to decline but hold high positions. We see the corresponding results on the Bitcoin chart. The asset reached a local peak and finally moved to the consolidation phase. The stabilization process will occur within the $22.3k–$23.4k range. The lower boundary of the corridor was formed following the results of yesterday's trading day, when sellers tried to force out the bulls, but faced a backlash near $22.3k. Technical metrics look overbought, and therefore the consolidation phase may be delayed. The on-chain activity of the cryptocurrency has also begun to decline, and therefore BTC will expect a reaction from market makers or a strong news event. This may be the Fed meeting in early February, where there will be another slowdown in the rate hike. It is expected that the indicator will increase by only 0.25%. This will give investors more confidence in the gradual curtailment of the quantitative easing policy. Results Bitcoin has reached a local high, and we can expect a consolidation movement within the range of $22.3k–$23.4k in the coming days. Given that trading activity remains at a decent level, volatility spikes are not ruled out. Do not forget that BTC has completed the formation of the cup and handle pattern. In the medium term, this means that we can count on the upward movement of the cryptocurrency to the levels of $28k–$30k. Relevance up to 09:00 2023-01-26 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333221
The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

The Recent Rally Of Bitcoin Had Been Capped, The Digital Yuan (eCNY) Has Received Upgrades

Sebastian Seliga Sebastian Seliga 26.01.2023 10:33
Crypto Industry News: China's central bank digital currency (CBDC) - the digital Yuan or eCNY - has received upgrades to give it smart contract functionality with a series of newly revealed use cases. The smart contract feature has been launched in the Meituan app, a Chinese app offering retail and food delivery services, as reported by local cryptocurrency website 8btc. When Meituan users place an order and pay using their e-CNY wallet, a smart contract is triggered that searches for keywords and purchased items in the order. If a user buys something from the list of keywords for the day, they are entered into a draw for a share of the prize. The prize is a share of a "red envelope" known locally as a hongbao, containing 8,888 Yuan, worth just over $1,300. Hongbao are small packages traditionally used to give money around Chinese New Year as a gesture of wishing good luck. Read next: Despite The Challenges Starbucks Is Developing In Italy, Bank BNP Paribas In Frankfurt Have Been Raided| FXMAG.COM Technical Market Outlook: The BTC/USD pair keeps trading above 100 MA, nevertheless the recent rally had been capped at $23,784 after the Bearish Engulfing candlestick pattern was made at H4 time frame chart. A breakout above the level of $25,000 is needed in order to extend the rally towards the key short-term technical resistance seen at $25,442. Please notice the growing bearish Divergence on the H4 time frame chart. On the other hand, any breakout below the range low ($22,330) would extend the corrective cycle towards the level of $21,466 (November 5th high). Strong and positive momentum support the short-term bullish outlook, however, the market is trading in a extremely overbought conditions. Weekly Pivot Points: WR3 - $24,368 WR2 - $23,535 WR1 - $23,112 Weekly Pivot - $22,702 WS1 - $22,278 WS2 - $21,869 WS3 - $21,035 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310156
The Ethereum Market Is In The Pull-Back Mode Now

The Ethereum Market Is In The Pull-Back Mode Now

Sebastian Seliga Sebastian Seliga 26.01.2023 10:39
Crypto Industry News: After the meeting in Brussels, the finance ministers of the Euro area countries issued a statement on the introduction of the digital Euro. The Eurogroup meets regularly to discuss the political dimensions of a potential digital currency. The January 16 statement coincides with the release of an inventory document from the European Central Bank (ECB) detailing the progress made in designing a digital Euro. The Eurogroup statement referred to the need for the European Central Bank and the European Commission to inform the Eurogroup and EU Member States about the progress of the digital Euro, which is under investigation. The Eurogroup believes that the introduction of the digital Euro, as well as its main features and design choices, requires policy decisions that need to be discussed and taken at political level.' The group listed the issues it was observing, including the digital currency's impact on the environment, privacy, financial stability, and related issues. It also expressed interest in the plans of European Union Member States outside the Euro area with regard to central bank digital currencies. Technical Market Outlook: The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The market is in the pull-back mode now and the nearest technical support is seen at $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Read next:Trump Returns To Social Media, Meta Will Restore The Former President's Account| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000. Relevance up to 09:00 2023-01-27 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310158
The Bitcoin Price Did Breakout Of The Bear Flag Pattern

Bitcoin Is Trading In A Extremely Overbought Conditions

Sebastian Seliga Sebastian Seliga 27.01.2023 08:53
Crypto Industry News: US Senator Elizabeth Warren praised the efforts of the national securities regulator and its chief Gary Gensler in overseeing the crypto industry. At the same time, she called on lawmakers to provide the body with the necessary resources and powers. Gensler, who took control of the U.S. SEC in 2021, had to "put the genie back in the bottle and bring the crypto ecosystem into compliance" after former President Donald Trump's regulators "let it explode," the senator said. The SEC worked to protect investors from crypto products and prevented "Bitcoin exchange-traded funds" from entering the market, Warren said. She also praised the commission's enforcement actions against cryptocurrency promoters such as Kim Kardashian and cryptocurrency exchanges such as Coinbase for alleged insider trading. Warren also analyzed the collapse of cryptocurrency exchange FTX, which caused a stir in the industry and prompted regulators to step up their efforts to improve oversight. She also called for FTX founder Sam Bankman-Fried to be held to account to the "full extent of the law". "The SEC should redouble its forces and use its enforcement tools. Congress must increase the resources that are needed to ensure that the body can perform its duties with full force in every corner of the crypto market." She added that all U.S. regulators must work together to oversee many aspects of the industry, including its environmental impacts from mining activities. Gensler has been criticized for allegedly meeting Bankman-Fried, who was once Washington's "crypto darling". As reported by the media, one in three US lawmakers received donations from FTX before its demise. Technical Market Outlook: The BTC/USD pair keeps trading above 100 MA, nevertheless the recent rally had been capped at $23,784 after the Bearish Engulfing candlestick pattern was made at H4 time frame chart. A breakout above the level of $25,000 is needed in order to extend the rally towards the key short-term technical resistance seen at $25,442. Please notice the growing bearish Divergence on the H4 time frame chart that pushed the price to the middle of the range already. On the other hand, any breakout below the range low ($22,330) would extend the corrective cycle towards the level of $21,466 (November 5th high). Strong and positive momentum support the short-term bullish outlook, however, the market is trading in a extremely overbought conditions. Weekly Pivot Points: WR3 - $24,368 WR2 - $23,535 WR1 - $23,112 Weekly Pivot - $22,702 WS1 - $22,278 WS2 - $21,869 WS3 - $21,035 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 08:00 2023-01-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310335
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Good Moment On The NFT Market Influenced The Revival Of Ethereum

Sebastian Seliga Sebastian Seliga 27.01.2023 08:57
Crypto Industry News: According to data from the Dune analytics platform, OpenSea processed over $320 million worth of NFTs on the Ethereum network in January 2023. This figure makes the month better than its predecessor, as in December 2022 the value was $283.5 million. These two months were the first since April 2022 in which the NFT market showed some sort of increase in the number of sales. In November, for example, sales totaled $253 million. The news comes amid a period where the cryptocurrency market as a whole is starting to show signs of recovery after the long period of downtime it faced in 2022. The very resurgence of Ethereum (ETH) is related to the good moment of the NFT market. The cryptocurrency is up 30% in 30 days. At the current exchange rate, Ethereum costs $1618. Despite this, the volume of sales on OpenSea continues to grow, even when measured in ETH. Values are 228,000 ETH in January, 227,000 ETH in December, and 191,000 ETH in November. Much of this return to form can be attributed to Yuga Labs, creators of the Bored Apes Yacht Club and Mutant Apes Yacht Club collections. The company launched a new series a week ago called Sewer Pass where NFTs can be minted for free by third-party token holders and gives you exclusive access to Dookey Dash. Technical Market Outlook: The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The market continues the pull-back cycle and the nearest technical support is seen at $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-01-28 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310336
Kiwi Faces Depreciation Pressure: RBNZ Expected to Hold Rates Amidst Downward Momentum

Week Ahead: The Fed, The ECB And The Bank Of England Will Make The Rate Decision

Ed Moya Ed Moya 28.01.2023 09:30
US It doesn’t get any busier than this week. Traders will focus on the FOMC decision, but they should also closely watch mega-cap tech earnings, and the nonfarm payroll report. The Fed is expected to continue slowing their rate hiking pace with a small 25 basis point rate rise.  Disinflation trends are clearly here, but Core PCE suggest price pressures are coming and the labor market refuses to break and could prompt the Fed to remain vigilant with its inflation fight. The nonfarm payroll report is still expected to show job growth of 175K, even as we hear of multiple reports of layoffs announcements across tech, finance, and real estate. Most of the layoffs will happen throughout the next couple of quarters, so we still could see another better-than-expected jobs number. Earnings season gets chaotic as Wall Street will get results from Advanced Micro Devices, Alphabet, Amazon, Amgen, Apple, Canadian Pacific Railway, Cigna, ConocoPhillips, Deutsche Bank, Exxon Mobil, Ferrari, Ford Motor, General Motors, Gilead Sciences, GSK, Hershey, Honeywell International, Humana, McDonald’s, McKesson, Merck, Meta Platforms, Novartis, Qualcomm, Samsung SDI, Sanofi, Shell, SoftBank, Sony Group, Starbucks, T-Mobile, Thermo Fisher Scientific, and United Parcel Service EU Three events stand out next week, the most obvious being the ECB meeting on Thursday. While the rate decision is what everyone will be waiting for, the flash inflation data on Wednesday and GDP on Tuesday could have some influence on whether the central bank will seek to soften its hawkish message. A 50 basis point hike is mostly priced in but what comes next is less certain at this point. UK The Bank of England has a particularly tough decision over the coming months. On the one hand, inflation is above 10% and the economy likely didn’t fall into recession in the second half of last year, to the surprise of many. On the other, inflation has decelerated in the last two months and the November GDP data probably delayed the inevitable rather than making it less likely. The outlook remains bleak, how the BoE navigates is still highly uncertain. And next week brings the monetary policy report containing the latest forecasts from the central bank. The majority of analysts expect them to raise rates by 50bp to 4.00%, while a minority are eyeing a 25bp hike. Russia Unemployment on Monday and a couple of PMI reports are the only highlights next week. That aside, focus will remain on events in Ukraine. South Africa The whole economy’s PMI is the only highlight next week. Turkey Official inflation data is the main release next week but this has become more of a political focus in recent years than an economic one, as the central bank pays very little attention to it.  Inflation is expected to slow towards low-50s, potentially making it to the 30s by the end of the year. Switzerland A few notable pieces of economic data next week including the leading indicator, retail sales and PMI survey. China China markets reopen after the Lunar Year Holiday and traders await to see how much economic activity improved last month after they began rolling back some COVID restrictions. Traders will pay close attention to the official government manufacturing PMI reading which could come close to returning to expansion territory.  The services PMI is expected to post a strong rebound from 41.6 to 51.5. India The focus will fall on the Indian government’s budget which should focus on deficit reduction.  Economic data releases include India’s fiscal deficit, eight infrastructure industries and both manufacturing and services PMIs. Australia & New Zealand China’s COVID reopening has supported both Australian and New Zealand dollars significantly. Much attention will go towards China’s PMI data readings. For Australia, the economic calendar contains the December retail sales report that should show spending is cooling, building approvals are expected to rebound, and the NAB business confidence report. The New Zealand economic calendar contains the fourth quarter employment report, the December building permits, and ANZ consumer confidence. Japan The pressure of the sharp depreciation of the yen in the past has eased somewhat and the reopening of China should support the start of a recovery in the Japan economy in the first half of this year. The next BoJ meeting in March will be the last meeting of Governor Haruhiko Kuroda’s term of office. Bank of Japan governor candidate Takatoshi Ito recently said that if the BoJ abandons yield curve control, it will need to conduct a comprehensive review of its policy framework. Next week will focus on the jobless rate, retail sales, industrial production, housing starts data, and PMI readings. Singapore It will be a busy week of data for Singapore. Economic releases include money supply data, unemployment rate, PMI data, and retail sales. Markets Energy Crude prices are poised to finish the week on a strong note as global recession fears are countered by optimism that China’s reopening momentum will continue and over economic data that suggests large parts of the US economy remains strong.  The upcoming week has two massive events; the OPEC+ virtual meeting on output and the FOMC decision. The OPEC+ meeting might be easy with a decision to keep output steady as they await what happens with the short-term global demand outlook. Traders will also pay close attention to earnings from both Exxon and Shell. Gold Gold prices are consolidating leading up to the FOMC decision. Next week, the Fed is likely to shift from a 50bp hike pace to just a quarter point rate rise, but still will say that more could come.  Gold’s outlook for the rest of the year is turning rather bullish for some investors, but a lot of that hinges inflation steadily falling back below 3.0%. Cryptos Cryptos continue to benefit from the broad risk rebound across Wall Street.  The Fed is nearing the end of its rate hiking cycle and that has helped all interest rate sensitive assets to start the New Year.  The headlines across the crypto space have not all been doom gloom as Moody’s works on a scoring system for stablecoins, Amazon has a NFT initiative, and as some firms successfully raise money.  Bitcoin has major resistance at the $24,000 level, so momentum traders will closely watch to see how prices behave post-FOMC decision.  Given where inflation stands, the Fed will likely remain hesitant that a pause is imminent and lean more towards staying hawkish. If the Fed follows the lead from the BOC and signals they are almost done with rate rises, Bitcoin could tentatively break past $24,000. This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
SEK Faces Risks as Disinflation Accelerates Ahead of Riksbank Meeting

Glovo Is Planning To Layoff 250 Workers Worldwide, The Middle East Is Already Suffering From A Water Shortage

Kamila Szypuła Kamila Szypuła 30.01.2023 12:30
Many companies hire additional employees during the pandemic, but the current economic situation has meant that rising costs force many companies to make redundancies. The Middle East is the warmest region on our planet, as everything has its good and bad sides. It turns out that the great disadvantage and at the same time the torment of this region can be the lack of water.   In this article: Bitcoin to naira The Layoffs Will water be more valuable than gold? Bitcoin to naira Nigeria's central bank wants to get citizens to switch to digital cash. The Central Bank of Nigeria continues to impose restrictions on cash withdrawals from ATMs as part of its ongoing efforts to accelerate the transition to a cashless society. These actions led to the price of one bitcoin (BTC) in Nigeria skyrocketing to the equivalent of $38,000 in the local currency, naira. Source: https://t.co/1JFzdATyNT — CoinGecko (@coingecko) January 30, 2023 The layoffs Significant layoffs no longer affect only technology companies, but also the service industry. The pandemic meant that restaurants were closed, and in order to stay on the market, restaurants offered deliveries. The leader of the supply remained Glovo, which significantly increased the number of employees due to the pandemic. The Spanish company Glovo said on Monday it planned to lay off 250 workers worldwide, citing declining orders and inefficiencies after the COVID-19 pandemic led to an increase in employment. The layoffs, which will mainly affect Glovo's Barcelona offices, represent a 6.5% reduction in the company's global workforce. The CEO stressed that the layoffs affected the company's headquarters in Barcelona in areas such as business support functions, recruitment and data. The current macroeconomic situation, with rising interest rates and inflation, reduces the purchasing power of consumers, and some decide to order less often. Delivery Hero's Glovo to lay off 250 employees worldwide https://t.co/sJJ8ZijUWn pic.twitter.com/ouaBmh3dbo — Reuters Business (@ReutersBiz) January 30, 2023 Will water be more valuable than gold? For many, gold and oil, also referred to as black gold, are the most valuable, but we forget about the most important resource without which it is impossible to survive - water. We can live without gold and oil and yet they are more valuable than water. Water is so common that its absence is something abstract. Water can become a scarce product, especially in the Middle East region, which is rich in oil. Many countries in the region already suffer from water stress, but what could that mean for the rest of the world? This shows that we should globally focus on climate care, because the lack of water can also affect other parts of the world. Energetic transpomation may not be enough, it may also turn out to be more reogristic water distribution. The Middle East is rich in oil reserves, providing a huge portion of the world’s energy. But what it has in abundance in hydrocarbons, it lacks in a resource that’s becoming scarcer by the year: water. (via @CNBCi) pic.twitter.com/ROBh9kw2hg — CNBC (@CNBC) January 30, 2023
There Are Many Ways To Join A Crypto Community

Kazakhstan Has Been Highly Popular Among Crypto Miners

Jakub Novak Jakub Novak 30.01.2023 14:21
The price of bitcoin dropped abruptly from a level of $24,000 to $23,900 this morning during the trade. The ether was also drawn to its limit but never updated. Additionally, the lawmakers in Nur-Sultan adopted the final draft of the law "On Digital Assets in the Republic of Kazakhstan" while many other markets, including the cryptocurrency market, awaited the Federal Reserve System's decision. The country's cryptocurrency market is now regulated by new legislation, which includes several other bills and establishes a licensing system for cryptocurrency exchanges and miners. Today, it was made public that the Senate had approved the cryptocurrency bill and had forwarded it to Kazakhstan's president for his signature. The law aims to control cryptocurrency-related activity. The new law "On Digital Assets in the Republic of Kazakhstan" establishes the prerequisites for the development of a crypto ecosystem in the nation, along with other legislative papers. The Law on Digital Assets and associated acts  Let me remind you that the upper chamber of Parliament deputies evaluated a complete package at the beginning of January and decided to make several specific adjustments, which were then adopted. The Law on Digital Assets and associated acts make up a single body of legislation that will enable the head of state of Kazakhstan to carry out his regulatory responsibilities regarding the creation and use of digital currencies. The bill and other essential adjustments made by senators, such as those to the laws of Kazakhstan on taxes and other payments to the budget, judicial administration, and administrative offenses, have not yet been approved by Tokayev, although it is anticipated that he will do so soon. Miners The primary objective of the government, according to legislators, is to control the operations of businesses that produce digital tokens and currencies in the nation. It is important to note that since China banned this kind of business, Kazakhstan has been highly popular among miners. However, the miners quickly came under public pressure because of their arrival, which caused a power crisis in the nation. By requiring licenses for both cryptocurrency exchanges and miners, the new measure establishes a regulatory framework for the industry and legalizes the digital asset market. The government also anticipates increased foreign investment and higher state budget receipts as a result of this. The technical picture of bitcoin today According to the law approved by President Tokayev in July 2022, bitcoin miners registered in the nation have already begun paying a higher premium for the electricity they use as of January 1. Regarding the technical picture of bitcoin today, the level of $23,980 is the closest goal for the bulls. With a fix, the positive trend will continue, and $24,400 may be updated. The $25,034 region will be the farthest objective, where major profit-taking and a rollback of bitcoin may take place. In the case of renewed pressure on the trading instrument, protecting the $23,220 level will be of utmost importance because a breach by sellers would be detrimental to the asset. This will put pressure back on bitcoin and create a direct path to $22,520. The first cryptocurrency ever created will "drop" in this location along with $21,840 if this level is broken. The market will undergo The collapse of the nearest resistance level of $1,670 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. The market will undergo considerable adjustments as a result of this. The sum will be returned to the ether if it fixes above $1,670, with the possibility of growth to a maximum of $1,758. Longer-term targets will be around the $1,819 level. The $1,594 level, which was just formed, will be in use when pressure on the trading instrument resumes. If it is successful, the trading instrument will rise to a minimum of $1,504 and a maximum of $1,410. It will be extremely difficult for bitcoin owners to trade below $1,320. Relevance up to 09:00 2023-01-31 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333605
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

The Bitcoin Cryptocurrency's Rise Continues

Paolo Greco Paolo Greco 31.01.2023 08:18
Bitcoin is confidently moving to the level of $24,350 on the 4-hour TF. But as we are seeing now with the euro, there has been a pause in the upward momentum in recent days. Keep in mind that the euro and bitcoin are currently in a similar situation. Unlike the dollar, the euro is seen as a dangerous currency, while bitcoin is the riskiest form of investing. Both of these assets fell when the Fed and other central banks across the world started actively raising rates. Both assets have become more active as the time for the end of monetary policy tightening comes closer. We have consistently questioned the validity of the euro's increase in recent weeks. The QT program is still in operation, and the Fed is still raising interest rates. That is, just because tightening has slowed down doesn't mean that it has completely stopped. Naturally, market participants can predict some future occurrences and patterns. However, it is important to keep in mind that the rates will likely stay high for a very long time. Thus, according to theory, 2023 shouldn't see any significant growth. Also, keep in mind that the bullish trend for bitcoin has not yet begun. When the price surpasses the significant level of $24,350, which may serve as the side channel's upper limit, it will be possible to discuss such a trend. At the same time, Mike Novogratz, the CEO of Galaxy Digital, predicted that bitcoin will reach a price of $500,000 but that it would take longer to get there than anticipated. According to Novogratz, "the Fed's actions, which decided to demonstrate its ability to combat rising inflation and hiked rates from 0% to 4%, are the primary cause of the fall of bitcoin." As a result, all of the assets that we thought would be useful for hedging inflation started to decline. According to the CEO of Galaxy Digital, this is the primary cause of the bitcoin market's decline. At present, the crypto industry is struggling as a result of several significant players declaring bankruptcy, but these difficulties will pass and the sector will grow stronger and more established. As a result, the prices of digital assets will rise as well. However, it will take time; Novogratz estimates that it may take 5 or 10 years for bitcoin to reach the $500,000 threshold. The first cryptocurrency's rise continues with a target of $24,350 over a 4-hour period. From our perspective, a rebound from the level of $24,350 will serve as a signal to close any long positions and begin new short positions with targets of $18,500 and $17,582. The fundamental background should ideally steadily improve so that Bitcoin can continue to rise. Bitcoin might theoretically start a bullish trend. We have not seen this thus far. Relevance up to 15:00 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/333658
bitcoin - instaforex

Tesla Reported A Profit Of $64 Million From Converting BTC To Fiat Currency

Sebastian Seliga Sebastian Seliga 01.02.2023 09:00
Crypto Industry News: According to a filing filed with the U.S. Securities and Exchange Commission today, electric vehicle maker Tesla revealed that it reported a gross impairment loss of $204 million on its Bitcoins in 2022. At the same time, Tesla reported a profit of $64 million from converting BTC to fiat currency at various points in the year, resulting in a net loss of $140 million from its cryptocurrency trading activities. In the first quarter of 2021, Tesla invested $1.5 billion in Bitcoin. Then its founder, Elon Musk, announced that the manufacturer of electric vehicles will start accepting BTC payments from US consumers. The policy was retracted just months later, as Musk announced that before the company would accept means of payment again, it needed "confirmation of reasonable (~50%) clean energy consumption by BTC miners with a positive future trend." Technical Market Outlook: A breakout above the level of $25,000 on BTC/USD is needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, but just recently the market made a five waves to the down side instead. It means, the possible ABC Zig-Zag wave pattern is in progress and currently wave B is being developed. The Bearish Divergence on the H4 time frame charts help the bears. On the other hand, any breakout below the range low ($22,330) would extend the corrective cycle towards the level of $21,466 (November 5th high). Strong and positive momentum support the short-term bullish outlook, however, the market is trading in a extremely overbought conditions. Weekly Pivot Points: WR3 - $24,554 WR2 - $23,983 WR1 - $23,640 Weekly Pivot - $23,412 WS1 - $23,069 WS2 - $22,842 WS3 - $22,271 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-02-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310959
The Ethereum Is Currently Approaching The Monthly Highs

The Ethereum Market Has Been Seen Making Lower Highs And Lower Low

Sebastian Seliga Sebastian Seliga 01.02.2023 09:04
Crypto Industry News: Even though non-fungible tokens had an unfavorable year in 2022, the trend may reverse with the news that the NFT-funded film Calladita won an award at the Sundance Film Festival. The production was funded with approximately €750,000 thanks to successful adoption in the field of NFT. The Miguel Faus film began to be written in 2018, and in March 2022, the planning and subsequent release of the non-fungible tokens was completed. Faus assured that he decided to focus on the audience of NFT collectors, so that they would be the buyers of stills from the film "Calladita". "There is a revolution going on beyond crazy people buying pictures of kittens. This is a paradigm shift that I was deeply convinced would change the form of digital property." The Spanish-born filmmaker began writing the script for the film in 2018, but it wasn't until March 2022 that NFT's planning and release process was completed. Technical Market Outlook: The Ethereum cryptocurrency rally had been capped at the level of $1,664 after the bulls hit the extremely overbought market conditions on the H4 time frame chart. The ETH market has been seen making a potential Triangle price pattern on the H4 time frame chart. The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-02-02 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/310961
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

A Breakout Above The Level Of $25,000 On Bitcoin Is Still Needed In Order To Extend The Rally

Sebastian Seliga Sebastian Seliga 02.02.2023 10:41
Crypto Industry News: Indian Finance Minister Nirmala Sitharaman presented the 2022-23 economic analysis to Parliament. The Economic Analysis is the annual flagship document of the Ministry of Finance, which presents the performance of India's economy in the previous financial year and presents the economic outlook for the current financial year. Including cryptocurrencies for the first time this year, the economic study highlights the "need for a common approach to regulating the crypto ecosystem." The 414-page document explains: "The recent collapse of crypto exchange FTX and the ensuing sell-off in crypto markets has highlighted gaps in the crypto ecosystem," explaining: "Crypto assets are self-referential instruments and do not strictly meet the test of being a financial asset as they do not involve internal cash flows." India's central bank, the Reserve Bank of India (RBI), has also repeatedly warned that cryptocurrencies have no intrinsic value, adding that they pose a threat to the country's financial stability. The RBI has recommended banning cryptocurrencies such as Bitcoin and Ethereum. The Economic Survey also states that "U.S. regulators have disqualified Bitcoin, Ethereum and various other crypto assets as securities." However, the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, confirmed that Bitcoin is a commodity, but did not comment on Ethereum. Nevertheless, he stressed that most other tokens are securities. Read next: USD/JPY Pair Drop Below 130.00, GBP/USD Is Trading Below 1.2330, The Australian Dollar Remains Generally Up| FXMAG.COM Technical Market Outlook: The potential corrective cycle in for of an ABC Zig-Zag pattern has been invalidated as the market made a new local high at the level of $24,248. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The intraday technical support is seen at $23,950 and the key short-term technical support is located at $22,308. Weekly Pivot Points: WR3 - $24,554 WR2 - $23,983 WR1 - $23,640 Weekly Pivot - $23,412 WS1 - $23,069 WS2 - $22,842 WS3 - $22,271 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311139
The Ethereum Is Currently Approaching The Monthly Highs

The Ethereum Had Broken Out From The Triangle Price Pattern

Sebastian Seliga Sebastian Seliga 02.02.2023 10:45
Crypto Industry News: Asset management firm Devere Group says 82% of millionaires surveyed have asked their financial advisers to add cryptocurrencies like bitcoin to their investment portfolios. Devere Group, a global financial advisory and asset management firm with $12 billion worth of assets traded worldwide, has released the results of its cryptocurrency survey. She found that among her millionaire clients with $1 million to $5 million in investable assets, 82% sought advice on investing in cryptocurrencies. "In 2022, the cryptocurrency market hit its worst performance since 2018, with bitcoin down around 75% in a year," Nigel Green, CEO of Devere Group, commented on the report. He explained that the declines in cryptocurrency prices were due to investors reducing their "exposure to risky assets, including equities and cryptocurrencies, due to increased concerns about inflation and slower economic growth." Devere Group survey participants are not the only ones who are positive about bitcoin. A recent study published by Nickel Digital Asset Management found that institutional investors expect 2023 to be a good year for bitcoin, with 65% of surveyed institutional investors agreeing that BTC could hit $100,000. Technical Market Outlook: The ETH market had broken out from the Triangle price pattern on the H4 time frame chart and made a new local high at the level of $1,695. The next target for bulls is seen at the level of $1,788 (September 2022 high). The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Read next:India's Adani Group May Have Passed A Key Test, Positive EU CPI Report| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-03 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311141
Worst behind us for UK retail despite fall in sales

The BoE Is Hiking The UK Economy Into Recession, Meta Managed To Put A Smile On Investors’ Faces

Craig Erlam Craig Erlam 02.02.2023 13:07
Equity markets are off to a strong start on Thursday, buoyed it seems by the Fed’s latest decision and Meta earnings. While Powell was determined not to overplay the shift in the Fed’s views on inflation and interest rates, certain comments were well received by the markets. The acceptance that the disinflation process has begun, being one obvious comment, but this was also paired with him stressing that they need substantially more evidence and to hike a couple more times before monetary policy is appropriately restrictive. All things considered, I think there was enough there to conclude we’re almost at an end on tightening and market expectations of one more 25 basis point hike and maybe a couple of cuts later in the year look reasonable. Of course, there’s plenty of data to come before the next meeting in March so a lot could change in that time. What will the ECB and BoE deliver? Now it’s over to the ECB and BoE to deliver their decisions, both of which are expected to be 50 basis point hikes. But what comes next is the key question in both cases. The BoE is hiking the UK economy into recession but inflation remains stubbornly very high. The ECB meanwhile was very late to the party and has some catching up to do, while the economic backdrop looks a little better than it did in December. The BoE decision is also accompanied by a press conference with Governor Andrew Bailey and his colleagues, as well as the latest monetary policy report and new projections. That should make this event very interesting, indeed, as we’ll get a better insight into how effective the MPC believes past hikes have been, when we’ll see the results and how much more they think are necessary. Read next: Santander Bank Polska Shareholders Can Expect A Solid Dividend ,The ETH Liquid Staking Narrative Is Already Going Strong| FXMAG.COM Can big tech follow in Meta’s footsteps? Earnings season has been tough so far this quarter but Meta managed to put a smile on investors’ faces, announcing slightly better revenues than expected, a plan to reduce costs and make the company more efficient this year, and a $40 billion share buyback. That has seen the share price rise almost 20% in premarkets, and Nasdaq futures to rise more than 1%. The question now is can Apple, Amazon, Alphabet and others deliver similar results today. Oil drifts lower Oil prices drifted lower again on Wednesday on the back of weaker manufacturing activity data from the US and a strong build in the EIA inventory data. Prices have been on the decline over the last week or so as investors have become less confident in the strength of the outlook, something we could see change repeatedly in this first quarter due to the lack of visibility on interest rate and China’s Covid transition. Gold liked what Powell had to say Gold was clearly buoyed by what the Fed and its Chairman had to say, with the price rallying back above $1,950 and out of its recent range. It’s now trading around $1,955, the one concern being the weak momentum backing it. That could change of course but it likely faces strong resistance on approach to $2,000, with $1,975 being an interesting test last time around. Major resistance ahead Bitcoin has done very well in a much improved risk environment so far this year and it has taken another step in the right direction over the last 24 hours, hitting a new 6-month high in the process. It now faces significant resistance around $24,500-$25,500, a break of which could give it a massive psychological lift. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

Santander Bank Polska Shareholders Can Expect A Solid Dividend, The ETH Liquid Staking Narrative Is Already Going Strong

Kamila Szypuła Kamila Szypuła 02.02.2023 12:50
Summaries of the last quarter come from companies. Shareholders are waiting for dividends. After a solid profit, Santander Bank Polska is ready to share it with its shareholders. What's more, the ETH market is constantly evolving. In this article: Share the profit with shareholders UBS is sponsors New terms Share the profit with shareholders The Polish branch of the Spanish Banco Santander posted a net profit of PLN 2.8 billion (USD 654.3 million) in 2022, up 152% year-on-year, driven by high interest rates. This optimistic result made Santander Bank Polska plan to share the profit with its shareholders through a solid dividend. The bank is in talks with the Polish financial regulator KNF regarding a possible dividend payment and is waiting for its decision. Santander Bank Polska plans to share profit with shareholders - CEO https://t.co/eFRmKIWnMe pic.twitter.com/2kQvht46vI — Reuters Business (@ReutersBiz) February 2, 2023 Read next: Resumption Of Cooperation Between Airbus And Qatar Airways| FXMAG.COM UBS is sponsor A foundation is a non-governmental organization established to achieve social and economically useful goals. Like any foundation, it needs funds. In order to obtain them, foundations often organize collections or look for disputes among large companies or famous people. One of the most attractive sponsoring areas for companies is certainly sport. This is the effect of the high return that companies get thanks to the strong connection of fans with the brand, identified with their favorite club or athlete. The attitude of fans' loyalty towards clubs influences their attitude towards sponsors and purchasing decisions. The 43 OAK Foundation is a organization based on the development of young athletes who are either minorities or underprivileged. They provide transportation, equipment, ice time, funding for travel hockey leagues and tournaments and other vital resources for the players. One of the sponsors of this organization is a multinational investment bank and financial services company - UBS. UBS is a proud partner of @43OakFoundation, helping young players reach their athletic goals and mentoring them, on and off the ice. Together with the @NYIslanders and @UBSArena, we’re promoting diversity and inclusion through the sport of hockey. #BlackHistoryMonth #shareUBS pic.twitter.com/OPJUbFuaa8 — UBS (@UBS) February 1, 2023 New terms New terms come along with development. The cryptocurrency market is one of those that is full of new concepts. ETH liquid staking, Lido staking and Liquid staking derivatives may seem foreign to many novice traders. So it's not worth getting behind and immediately familiarizing yourself with these concepts in a special guide, because the cryptocurrency market is developing very quickly and now is the best time to develop yourself and your finances and investments. The ETH liquid staking narrative is already going strong but that does not mean you are necessarily late. Ethereum upgrades and scaling will be one of the main narratives in 2023. Another intriguing project on the horizon is Eigenlayer. #ETH liquid staking! Lido staking! Liquid staking derivatives!So many buzzwords, so little time... 😱Let #CMC help you dive into this overall definition and the details of #Ethereum liquid staking 👇https://t.co/IwVIY997Mj — CoinMarketCap (@CoinMarketCap) February 2, 2023
Bitcoin amid recent banking sector situation: simply put, it is no longer a question of yield but safety

Cryptocurrencies: Only Trust Wallet Token Has Gained A Positive Return

Santa Zvaigzne Sproge Santa Zvaigzne Sproge 02.02.2023 14:31
Cryptocurrencies on the brink of a nervous breakdown Cryptocurrencies have been in retreat for the last quarter of 2022. For the 75 largest of these (excluding stablecoins), the average decline since the beginning of the year has been as much as 65.09%. Bitcoin (BTCUSD) has fallen by 63.22% in that time. Interestingly, in this pool, only one cryptocurrency - Trust Wallet Token - has gained a positive return of more than 240% since the beginning of the year. However, let us recall the structure of this market. The value of all cryptocurrencies, according to MacroMicro data, is currently around 860 billion USD and has fallen by 69% (2.82 trillion USD) since its peak. Currently, Bitcoin accounts for 38% of the capitalisation, with the second largest digital currency Ethereum accounting for 18%. The average correlation of all currencies against Bitcoin was 0.71. It may indicate a high dependence of this market on the valuation of just this one cryptocurrency. Therefore, with elevated volatility, increases or decreases in Bitcoin, we could expect similar reactions in other cryptocurrencies. The correlation of Bitcoin with the S&P500 (US500) index was 0.56, which appears to be a significant correlation. Additionally, the cryptocurrency volatility was noticeably higher than the stock market, measured by an annualised standard deviation of 58.5% compared to the S&P500’s 21.7%. The average deviation of the market for the largest digital currencies was 91%, and the record holder was Synthetix (SNXUSD), whose annual volatility was as high as 141%. This shows us how this asset class had increased risk relative to the equity market. Read next: Resumption Of Cooperation Between Airbus And Qatar Airways| FXMAG.COM Cryptocurrencies the babies of cheap money Previously, central banks’ monetary policies may have been behind the success of the cryptocurrency market. Measures to stimulate post-pandemic economies by providing cheap money in the form of low interest rates have historically led to local speculative bubbles. It appears to be no different in this case. We can see a correlation with regard to changes in the size of the M2 monetary base and the Bitcoin price, whose growth rate has slowed considerably this year. Therefore, as we are currently in a cycle of ever higher interest rates and monetary tightening, it seems that we may not see increases in this market any time soon. „Only when the tide goes out that do you discover who’s been swimming naked” - the consequences of the FTX stock market collapse Since we saw the bankruptcy of the 3rd largest cryptocurrency exchange FTX, the digital currency market has pierced in recent support levels. Currently, the price of Bitcoin (BTCUSD) is hovering around 17,000 USD. To answer the question of which exchanges may be at risk of insolvency, we should assess the level of coverage of positions taken. The Coinmarketcap website has introduced such a feature. However, it seems that the lack of transparency in this case could be one of the first clues to warn investors. The exchanges currently characterised by relatively high turnover and, at the same time, a lack of transparency are Ecxx, MEXC, IndoEx, Upbit and BitCoke. Increased liquidity could be linked to investors’ willingness to withdraw funds and close positions, so that these entities need to be particularly watched. Good to watch cryptocurrencies Read the full Yearly Outlook 2023 by Conotoxia here!
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

Huang Yiping Voiced His Concerns About The Future Of Fintech In China

Sebastian Seliga Sebastian Seliga 03.02.2023 09:57
Crypto Industry News: The idea of lifting the ban on cryptocurrencies began circulating in China after a former central bank official urged the country to reconsider its strict restrictions on cryptocurrencies. Huang Yiping, a former member of the Monetary Policy Committee of the People's Bank of China (PBoC), believes that the Chinese government should reconsider whether the ban on cryptocurrency trading is sustainable in the long run. Huang voiced his concerns about the future of fintech in China in a speech in December, according to a transcript published by local Sina Finance on January 29. The former official argued that a permanent ban on cryptocurrencies could result in many missed opportunities for the formal financial system, including related to Blockchain and tokenization. He stated that cryptocurrency technologies are "very valuable" to regulated financial systems, adding: "Banning cryptocurrencies may be practical in the short term, but whether it is sustainable in the long term deserves in-depth analysis," Huang stated. He also stressed the importance of developing an appropriate regulatory framework for cryptocurrencies, although he acknowledged that it will not be an easy task. Technical Market Outlook: The potential corrective cycle in for of an ABC Zig-Zag pattern has been invalidated as the market made a new local high at the level of $24,248. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Nevertheless, so far the bullish rally was capped at the local high and the market reversed towards the middle of the old trading range. The intraday technical support is seen at $23,298 and the key short-term technical support is located at $22,523 and $22,308. Weekly Pivot Points: WR3 - $24,554 WR2 - $23,983 WR1 - $23,640 Weekly Pivot - $23,412 WS1 - $23,069 WS2 - $22,842 WS3 - $22,271 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311310
A Hard Fork Can Raise The Ethereum Rate

The Key Technical Support Of The Ethereum Is Located At $1,350

Sebastian Seliga Sebastian Seliga 03.02.2023 10:01
Crypto Industry News: Berkshire Hathaway (BRK) Vice Chairman and staunch skeptic of the crypto market, Charlie Munger, has called on the US to follow China's lead and ban cryptocurrencies altogether. In an opinion the billionaire expressed to a widely read financial journal, Munger claimed that the growth of cryptocurrencies was due to a loophole because crypto assets are not currencies, commodities or securities. In addition, he said this: "Instead, this is a nearly 100% house edge gambling deal made in a country where gambling deals are traditionally regulated only by states that loosely compete with each other." He further added: "The United States should now pass a new federal law to prevent this from happening." This is not the first critical statement by the vice-president of BRK towards the crypto industry. In 2021, Charlie Munger described Bitcoin's success at the time as "disgusting", after referring to how it is being used by criminals, scammers and hackers. We have recently prepared a report about these third parties, in which we summarize their activities in the crypto industry in the last year - we strongly encourage you to read it. A year later, the 99-year-old called BTC an "investment in nothing," reaffirming his skeptical stance on the "new digital gold." Munger even went so far as to say that he wished cryptocurrencies had "never been invented." But perhaps that was what Satoshi Nakamoto had in mind. Technical Market Outlook: After the fake breakout from the Triangle price pattern on the H4 time frame chart and a new local high at the level of $1,695 the ETH/USD pair reversed sharply lower. The Bearish Engulfing candlestick pattern was made at the H4 time frame chart yesterday, so the outlook remains bearish now. The nearest technical support is seen at $1,525 and $1,487. The key technical support is located at $1,350 and only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. The next target for bulls is seen at the level of $1,788 (September 2022 high). Weekly Pivot Points: WR3 - $1,834 WR2 - $1,702 WR1 - $1,628 Weekly Pivot - $1,570 WS1 - $1,496 WS2 - $1,438 WS3 - $1,307 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-04 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311312
Earnings season: Tesla stock price slipped after yesterday's news. The best selling car in Q1 was Model Y

Elon Musk Was Found Not Guilty In The Tweets Case

Kamila Szypuła Kamila Szypuła 05.02.2023 18:52
Elon Musk is popular not only because of Tesla or recently Twitter, but also because of the events that concern him. Musk, together with his company SpaceX, is trying to create a rocket for interplanetary travel, and in the meantime, another of his companies - Tesla - is found not guilty. In this article: Starship is a future Musk and tweets case Cryptocurrency regulation is coming Starship is a future Visions of the future of humanity beyond the Change appeared as early as the 1980s. With progress, it seems that humanity is on the verge of achieving this goal. That's why SpaceX created Starship. Elon Musk is known for such visions, and has opined that the "holy grail" in making human life multiplanet lies in our ability to create a completely reusable rocket. System that can carry vast amounts of equipment, supplies - and people - deep into space. The Starship project can be attractive to investors. Some experts have estimated that if SpaceX succeeds with Starship along with Starlink's global satellite internet venture, the company's valuation could soar into the trillions of dollars. In addition to a success for the company, it may also be a success for the future of space travel. Here's why Starship is indispensable for the future of SpaceX. Watch the video to learn more. https://t.co/VrgmwPexlI pic.twitter.com/FL53gNdJYQ — CNBC (@CNBC) February 5, 2023 Read next: Difficult Decision Ahead Of The RBA, The Market Expects A 25bp Rate Hike| FXMAG.COM Musk and tweets case The topic of Elon Musk does not go away. Musk's attention has been split between Tesla, his rocket company SpaceX and now Twitter in recent months. Tesla investors have expressed concerns that running the social media company has taken up too much of his attention. Beyond visions of the future at SpaceX, Musk has struggled with a lawsuit over his sometimes impulsive use of Twitter, the social media company he bought for $44 billion in October. Tesla shareholders said Musk misled them when he tweeted on August 7, 2018 that he was considering buying the company at $420 a share, which is a premium. A US jury on Friday found that Tesla CEO Elon Musk and his company were not responsible for misleading investors. Plaintiffs sought billions of dollars in damages, and the decision was also seen as important to Musk himself, who often expresses his views on Twitter. 'Thank goodness, the wisdom of the people has prevailed,' Elon Musk tweeted, adding that he was 'deeply appreciative' of a U.S. jury's decision that Musk and Tesla were not liable for his 'funding secured' tweets from 2018 https://t.co/owohhIOsEy pic.twitter.com/3XoA84jcps — Reuters Business (@ReutersBiz) February 5, 2023 Cryptocurrency regulation is coming After countless outbursts, scams, and manipulations throughout 2022, 2023 will be the year of cryptocurrency regulation in the US. It meant it was time to hold the American public accountable and push for sensible regulation. What's more, there is a lot of interest and demand for it, but will the regulation of cryptocurrencies in the US be reasonable? What can you confess? How will the market and other countries react? #Crypto regulation in the U.S. is like having spicy Mexican food: you know something bad's coming soon, but you don't want to think about it now. 😉https://t.co/AuolMd6Yt4 — CoinMarketCap (@CoinMarketCap) February 5, 2023
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

If Retailers Continue To Withdraw Capital From Brokers The Cryptocurrency Market May Suffer The Most

Saxo Bank Saxo Bank 07.02.2023 10:25
Summary:  From a near-perfect environment for speculative assets before 2022 to the opposite, crypto faces fundamental challenges. The genesis of crypto: a post-GFC liquidity bonanza On December 16, 2008, the United States Federal Reserve (Fed) slashed with a stroke of the pen the interest rate to near zero amid the Great Recession. This was the first time in history that the Fed imposed an interest rate below one. To get the economy back on its feet, the Fed followed up with hefty quantitative easing in March 2009 to flood the economy with fresh money and liquidity. Throughout the 2010s, the Fed retained a low interest rate, aside from a few minor interest rate hikes and cuts, while other central banks even enforced a negative rate. To put it frankly, this formed a near-perfect environment for speculative assets to thrive for years to come. As a peculiar circumstance, hardly two weeks after the Fed slashed interest rates to zero for the first time, the most speculative asset of this epoch – namely Bitcoin – emerged, following its genesis block on January 3, 2009. It was largely a coincidence that Bitcoin mined its first block that close to the Fed imposing zero rates and quantitative easing. However, this environment has been of great significance to make Bitcoin and later crypto as a whole the darling of retail investors it slowly but surely became. Retail supremacy In its first decade, crypto derived little if any recognition from the lion’s share of institutional investors and financial intermediaries, other than a few strong advocates. Although the financial establishment would simply not touch crypto with a bargepole, retail participation grew exponentially, making crypto a key playing field for retail investors along with meme stocks and other r/wallstreetbets favourites. The near zero or even negative interest rates in some countries have drawn in retail investors to investable assets, including greatly speculative markets such as crypto to perchance achieve some return on their capital, during times at which interest rates have not given any yield. The absence of institutions and frequent fear-of-missing-out retail investors have fuelled excessive volatility and various bubbles such as in 2017 and 2021, causing countless cryptocurrencies to unsustainably pump to sky-high prices before dropping like a stone. This volatility has arguably reinforced the desire of institutions to stay away from crypto. A great business to serve retail Serving the trading needs of retail in crypto has been an extremely lucrative business for the exchanges that were early movers in the space. In fact, the majority of Coinbase’s revenue is a product of retail trading, although the company has various other revenue streams such as staking, interest rate earnings, commerce gateway, developer tools, and institutional trading and custody. Retail trading of crypto may not pay as many bills at zero-commission broker Robinhood relative to Coinbase, yet, it is still a sizeable part of the firm’s revenue, particularly considering that it offers trading in other assets such as equities and options. This stresses that retail rather than institutions keeps crypto-trading enablers afloat. Source: Coinbase Global, Inc. & Saxo Group Source: Robinhood Markets, Inc. & Saxo Group Will retail stick around just as interest rates rise and liquidity dries up? In what felt like a flash in 2022, the macro environment transformed from a near-perfect environment for speculative assets on pandemic-induced liquidity to an ugly reversal. To tame soaring inflation, the Fed raised interest rates from near zero to above 4 percent in the span of less than a year, causing other central banks around the world to follow suit. To make matters worse, the Fed initiated quantitative tightening to decrease the liquidity in markets by shrinking its balance sheet. The rate hikes in 2022 reduced liquidity and further deflated the frothiest speculative markets of 2021. In hindsight, in early 2021, retail hands had started running dry of fresh ‘free’ pandemic stimulus money to plough into crypto. Note, for example, the first huge peak in Bitcoin and other crypto assets was within several weeks of the last and largest US stimulus check, after which the subsequent volatility saw many crypto traders burning out. From this point forward, if retail continues to withdraw capital from brokers, the crypto market is likely to be hit the hardest, as crypto has never existed in such a macro environment and because of weak participation from professional and institutional investors. In our view, retail will not likely pull out of the market immediately, as the almost 15-year perception that money is cheap must be erased from the dominant, younger generation of retail crypto traders. If liquidity stays tight as central banks fight inflation, the model of retail supremacy to not only keep the crypto market afloat but also the model of crypto brokers selling shovels in a gold rush will break down. From retail to institutions In the past few years, crypto market advocates have touted the impending arrival of serious institutional participation. Relative to the ‘don’t-touch’ attitude that institutions largely held towards crypto until 2020, some respected institutions have dipped their toes into the space, trading the market themselves, offering it to clients, and in some cases executing various transactions directly on-chain. While this is a step in the right direction, the institutional interest in crypto has been relatively modest, as it is still dominated by relatively few institutions. As a consequence, institutions are not likely set to arrive in sufficient force in the near-term to offset retail’s crypto exit, particularly for the smaller and less liquid cryptocurrencies. Nonetheless, less retail activity may lead the market to a less speculative but more robust and sustainable model long-term, although most cryptocurrencies may not survive the wash-out of speculative activity. To bring about a sustainable model for the market to thrive in the future, crypto must return to its roots by offering unique decentralised use cases and mature into more economically sustainable assets. On the latter, last year was encouraging in demonstrating that cryptocurrencies can be economically sustainable assets by generating dividend-like returns, following Ethereum’s transition from proof-of-work to proof-of-stake last year. During the transition, Ethereum drastically decreased its issuance of new Ether, so it nowadays offers holders a reward of up to 7 percent yearly by verifying transactions but without increasing its supply, as the reward is fundamentally funded by transaction fees. Hopefully, other cryptocurrencies and tokens follow in Ethereum’s footsteps in turning into more economically sustainable assets, altogether leading the space to become less speculative.   Source: Can institutions save crypto before retail vanishes? | Saxo Group (home.saxo)  
The RBA’s aggressive rate tightening cycle will be continued

The RBA Is On A Similar Trajectory To The Fed Now

Craig Erlam Craig Erlam 07.02.2023 15:39
Equity markets are treading water on Tuesday, as investors take a pause following quite an eventful week. Investors seem a little lost this week, disheartened by the jobs report in particular but also poor tech earnings and a still-hawkish Federal Reserve. The central bank may have softened its tone a little but once you take the economic data into consideration, the case for a couple more 25-basis point hikes is clearly there. That’s come as quite a setback following what has been a much more optimistic start to the year, in which interest rate expectations have been broadly pared back. But as was always likely to be the case, and will likely remain so this quarter at least, the data is going to be inconsistent and sentiment is going to reflect that. The path to peak inflation seemed very linear and sharp but the journey back to 2% is likely to be anything but. Clearly, there is a lot of underlying strength in the labour market that is going to make the case for pausing challenging, although I suspect there’ll be plenty of examples over the next couple of months that may make it seem more appealing. A slight hawkish shift from the RBA? The RBA is on a similar trajectory to the Fed now, even a little ahead, in that it’s on a meeting-by-meeting path and has been hiking in 25 basis point increments since October. That said, based on the language overnight, it would appear the light at the end of the tunnel may be dimming and the RBA could be laying the groundwork for a prolonged exit. Core inflation has remained stubbornly high and while a return to super-sized hikes looks unlikely, the expectation now for the next couple of meetings is that 25 basis point hikes are widely expected. Read next: EUR/USD Drop Below 1.0700$ And GBP/USD Drop To 1.967$, The Aussie Pair Holds Above 0.69| FXMAG.COM Tick and tick Bitcoin continues to look in a fairly strong position, having weathered the recent storm quite well. It remains not far from its highs and within the range it’s traded in for most of the last few weeks. Sentiment remains a dominant factor but what the community will likely be hoping for more than anything right now is for headlines to not turn against them and for cryptos to show some resilience. So far, both of those boxes are being ticked. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
UK Bank Bosses Are Blocking Customers From Accessing Crypto Assets

UK Bank Bosses Are Blocking Customers From Accessing Crypto Assets

Sebastian Seliga Sebastian Seliga 08.02.2023 11:14
Crypto Industry News: UK bank bosses are blocking customers from accessing crypto assets over concerns about fraud and volatility, lawmakers have been told today. Social media and technology platforms have been identified as a significant source of fraud. However, directors told the Treasury Committee that the new rules could boost confidence. "As a bank, we have taken a pretty hard line on cryptocurrencies. We are blocking retail and affluent clients from switching to crypto assets due to the volatility and stability of the platform. We are looking at this from a scam perspective. It's their money - but if we show serious fraud, we'll block them," Alison Rose, chief executive of NatWest Group, told the House of Commons committee. She pointed to the need to "stop it at the source", citing statistics showing that 60% of customers who fall victim to the scam come from social media or technology platforms. Other executives interviewed by the committee were also skeptical about cryptocurrencies. However, they saw potential in the new rules proposed for the sector by the UK Treasury last week. Read next: The Decline In Tech Valuations Continues To Hit SoftBank| FXMAG.COM Technical Market Outlook: The bullish rally was capped at the level of $24,258 after the Shooting Star candlestick pattern was made on the Daily time frame chart and the market reversed towards the middle of the old trading range. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The key short-term technical support is located at $22,523 and $22,308. On the lower time frames, like H4, the bulls bounced from the technical support located at the level of $22,522 and tested the short-term trend line resistance (rejection). The key short-term technical support is seen at the level of $22,308. Weekly Pivot Points: WR3 - $22,820 WR2 - $22,768 WR1 - $22,745 Weekly Pivot - $22,715 WS1 - $22,693 WS2 - $22,663 WS3 - $22,610 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311851
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

The Ethereum Has Bounced From The Technical Support

Sebastian Seliga Sebastian Seliga 08.02.2023 11:17
Crypto Industry News: The New Year's 40% rebound in Bitcoin's price charts led to the largest influx of funds into the market from institutional investors since June 2022. The last week of January alone saw an influx of funds amounting to USD 117 million. On January 30, the CoinShares group published a report called "Digital Asset Fund Flows Weekly", from which we learn what the investment situation on the bitcoin market looked like recently. It seems that the first cryptocurrency is still recognized by institutions as an attractive investment opportunity. Last month was one of the better Januarys for the bitcoin market in years. Bitcoin shot up by 40% at that time, which affected investor sentiment and reduced losses suffered by this sector as a result of the tragic end of the year. Last week's US bears seem to have changed their minds after $117m inflows, including $26m from the US. An interesting fact is that investors from Germany account for 40% of the result from the last week of January. The second largest group are Canadians. Moreover, although the altcoin segment also saw a nice price rally, the interest of the institution is dominated by BTC. In the meantime, after a noticeable rebound in early 2023, BTC's largest institutional investment vehicle has fallen into a lower correction that continues to deepen its discount. As of Feb. 7, Grayscale Bitcoin Trust (GBTC) is trading at 43% off Bitcoin's spot price after it jumped 36.2% in mid-January. However, GBTC has been struggling with some problems for some time. Grayscale is trying to force US regulators to approve the conversion to the country's first bitcoin-listed fund. The foundations of the second largest cryptocurrency in terms of market capitalization may be strongly affected by the recent announcement of Visa Vice President Cuy Sheffield. Well, during the event, StarWare announced that his company is testing large transactions using this Ethereum blockchain. It was mentioned that Visa is exploring ways to accept payments in stablecoins through this blockchain. Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at $1,603 and is approaching the last swing high. The next target for bulls is seen at the level of $1,788 (September 2022 high). The intraday technical support is seen at $1,603 and the key technical support is located at $1,350, so only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,630 WR2 - $1,625 WR1 - $1,623 Weekly Pivot - $1,620 WS1 - $1,618 WS2 - $1,614 WS3 - $1,609 Read next: The Decline In Tech Valuations Continues To Hit SoftBank| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-09 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/311853
SEK Faces Risks as Disinflation Accelerates Ahead of Riksbank Meeting

Douyin Wants To Enter The Food Delivery Industry

Kamila Szypuła Kamila Szypuła 08.02.2023 12:22
The Internet and social media are a good place to promote your business. In China, one of the TikTok applications wants to enter the food delivery industry. In this article: The food delivery industry in China Russia's MTS bank has UAE licence More than in any other year The bond market The food delivery industry in China The food delivery market is constantly evolving. Apps such as Uber Eats or Glovo are very popular. China has its own counterpart, but other companies also want to enter this market. Douyin is the Chinese version of TikTok which is owned by ByteDance. ByteDance's douyin is testing a type of food delivery service in China. Restaurant owners often broadcast live on Douyin to promote their business. By doing so, they can offer discounts. The user can then redeem this offer and choose the time the food will arrive. The food delivery industry in China is dominated by Meituan and Ele.me. However, ByteDance's initial steps in the market suggest that the company wants a piece of the market, and their business model is different from the current market. ByteDance is testing food delivery service via its Chinese version of TikTok https://t.co/36zS7pddDl — CNBC (@CNBC) February 8, 2023 Read next: The Decline In Tech Valuations Continues To Hit SoftBank| FXMAG.COM Russia's MTS bank has UAE licence The tougher Western sanctions against Russia have not yet directly targeted telecommunications infrastructure. The fintech unit of the largest Russian mobile operator Mobile TeleSystems -MTS - has received licenses from the Central Bank of the United Arab Emirates. The UAE, like Saudi Arabia, maintains good relations with Moscow despite pressure from the West to help isolate Russia from the invasion of Ukraine, which Moscow calls a "special military operation." Russia's MTS bank has UAE licence -central bank website https://t.co/nPrzeEAFgy pic.twitter.com/ksib85fIpZ — Reuters Business (@ReutersBiz) February 8, 2023 More than in any other year The cryptocurrency market is vulnerable to hacker attacks. Reports show that hackers are hitting this market particularly hard. A confidential United Nations report shows that in 2022 North Korean hackers stole more crypto assets than in any other year. So the main task as always will be to implement the maximum protection of funds in any project. Or it may seem that the problem is North Korean #hackers, but that depends on how you look at the situation. #cryptonews: A confidential United Nations report has revealed North Korean hackers stole more #crypto assets in 2022 than in any other year 🫢Stay #SAFU! — CoinMarketCap (@CoinMarketCap) February 8, 2023 The bond market Many people want to try their hand at investing. They often choose stocks or bonds. These are two key reasons to own quality bond investments. Most bonds make semi-annual interest payments that are known in advance based on a percentage of the face value. Bonds also have fixed face values and maturity dates, so in the event of default, investors know in advance what they will receive and when. However, given how large and complex the bond market is, there can be some confusion about how to actually invest. Therefore, before making a decision on such an investment, you should increase your knowledge in this area, for example by using the materials of financial institutions. Five key points about bond investing, ranging from "how" to invest to "why now?"https://t.co/pTt30eiGJg — Charles Schwab Corp (@CharlesSchwab) February 7, 2023
Rates Spark: Riding the hawkish wave while it lasts

Traders Had Become A Little More Defensive On The Expectation Of A Hawkish Shift

Craig Erlam Craig Erlam 08.02.2023 12:35
European equity markets are expected to open a little higher on Wednesday following a positive shift on Wall Street on Tuesday, while Asia overnight was a very mixed bag. Investors appear a little relieved at Fed Chair Jerome Powell sticking to last week’s script despite Friday’s jobs report indicating that the labour market remains red hot. It would appear traders had become a little more defensive on the expectation of a hawkish shift but Powell refrained from taking the leap. And credit to him for doing so. The central bank, like others, has long talked about one data point not making a trend and while there are causes for concern in last week’s jobs report, it’s not a game changer. Wages are still heading in the right direction, and participation also improved. That said, we are getting a consistent message from policymakers across various central banks. While headline inflation is falling and will likely fall much further, core services inflation remains a big concern, and tight labour markets make achieving lower wage growth consistent with 2% inflation targets very difficult. It’s been clear for a while that the journey back to 2% was likely to be more treacherous than the path to peak inflation, and the data in the first quarter in particular, perhaps the second also, was going to highlight that. Recent jobs reports alone have epitomized that and sentiment in the markets is likely to continue mirroring it in the coming months. ​ The year of the crypto revival Bitcoin also enjoyed some light relief from Powell’s risk rebound overnight and it came at a good moment as the cryptocurrency was beginning to flirt with range lows. It’s now safely back in the middle of a near three-week range and still holding onto the bulk of the new year gains. 2023 may well be the year of the crypto revival. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Cryptocurrency: There are a few signs that Bitcoin price may increase

The Bullish Rally Of Bitcoin Was Capped

Sebastian Seliga Sebastian Seliga 09.02.2023 10:59
Crypto Industry News: The UAE's largest airline, Emirates Airline, has stated its intention to adopt Bitcoin as a means of payment and use blockchain technology to track aircraft records, but according to a recently published document, operations with anonymity-enhancing cryptocurrencies such as XMR and ZEC are now prohibited in Dubai. The local regulator has also set the authorization requirements that crypto companies must meet before entering the region. The most basic rules include anti-money laundering obligations, marketing protocols, insider trading prevention, and watching if an asset class is used in criminal activity. Angela Ang, Senior Policy Advisor at blockchain technology firm TRM Labs, commented: "Any obfuscation of fund flows is a challenge to detect illegal activities. So it's no surprise that regulators react strongly to these types of asset classes and mechanisms." The updated system aims to ensure maximum security for local consumers and establish Dubai as a global hub for blockchain technology. Technical Market Outlook: The bullish rally was capped at the level of $24,258 after the Shooting Star candlestick pattern was made on the Daily time frame chart and the market reversed towards the key short-term technical support seen at $22,328. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The key short-term technical support is located at $22,523 and $22,308. On the lower time frames, like H4, the bulls bounced from the technical support located at the level of $22,522 and tested the short-term trend line resistance (rejection). The key short-term technical support is seen at the level of $22,308. Weekly Pivot Points: WR3 - $22,820 WR2 - $22,768 WR1 - $22,745 Weekly Pivot - $22,715 WS1 - $22,693 WS2 - $22,663 WS3 - $22,610 Read next: Disney Plans To Cut Costs And Jobs, Google Is Now Rolling Out AI Chatbot| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 09:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/312055
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

Super Bowl LVII Without Any Crypto Ads, The Ethereum Has Reversed From The Level Of $1,700 Again

Sebastian Seliga Sebastian Seliga 09.02.2023 11:03
Crypto Industry News: Fos Sports TV station has decided that during Super Bowl LVII there will be a rule of banning all crypto ads. After the devastating crypto winter of 2022, which saw many high-profile bankruptcies, Fox Sports decided to effectively ban cryptocurrency-related ads. This decision is to help protect Fox Sports viewers from financial losses. Fox Sports has sold out all available ad space for the upcoming top game - the Super Bowl - scheduled for next Sunday between the Kansas City Chiefs and the Philadelphia Eagles. No crypto company has purchased the advertising rights on the day of this major American sporting event. Read next: Disney Plans To Cut Costs And Jobs, Google Is Now Rolling Out AI Chatbot| FXMAG.COM Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,700 again, so the next target for bulls, seen at the level of $1,788 (September 2022 high) is moving away. The intraday technical support is seen at $1,603 and the key technical support is located at $1,487, so only clear and sustained breakout below this level would change the short-term outlook to bearish. Please keep an eye on the $1,487 technical support as any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,630 WR2 - $1,625 WR1 - $1,623 Weekly Pivot - $1,620 WS1 - $1,618 WS2 - $1,614 WS3 - $1,609 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-10 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/312057
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

It Will Be Difficult For Bitcoin Owners To Trade Below $1,260

Jakub Novak Jakub Novak 10.02.2023 09:27
In light of recent discussions about the beginning of a global economic recession and the escalation of SEC actions aimed at regulating the space of cryptocurrencies, the exchange rate of bitcoin and ether has significantly decreased, which is not surprising.  Hester Peirce publicly criticized her organization's persecution of the cryptocurrency industry  The Securities and Exchange Commission's Hester Peirce publicly criticized her organization's persecution of the cryptocurrency industry yesterday, calling it "paternalistic and lazy" and questioning whether a hostile regulator is the best course of action for the sector. In an article published on Thursday, Peirce, who was appointed to her position by President Donald Trump in 2018, expressed her disagreement with the SEC's claim that prohibiting staking on cryptocurrency exchanges. The SEC registration process Let me remind you that the exchange was accused of engaging in an unauthorized offer and sale of securities through its lending platform in the SEC's action against Kraken, which was settled without admitting or denying wrongdoing. According to Peirce, this was not the primary issue that required attention. "Whether someone accepts or disagrees with this view, the more important question is whether the SEC must grant permission for such operations." The SEC registration process is not currently used for proposals relating to cryptocurrency staking. She added that applying enforcement actions in this situation is not an ethical or effective form of regulation. SEC Chairman Gary Gensler  More recently, Congress, the White House, and SEC Chairman Gary Gensler have asked for tougher regulation of the cryptocurrency sector. To restrict the growth of the cryptocurrency business, Gensler and his SEC Enforcement team have already started to take more aggressive action than the Department of Justice or politicians. The SEC's actions were described as a step toward investors  It's important to note that the SEC's actions were described as a step toward investors who didn't receive the information they deserved in yesterday's press release announcing the settlement of SEC problems with Kraken. Here is a clear indication that the SEC will no longer permit a recurrence of the events that led to the collapse and bankruptcy of FTX last year when the company's owners did whatever they pleased with consumers' money. The technological state of bitcoin  Regarding the technological state of bitcoin right now, it is still under a lot of pressure. The bulls' immediate objective is to defend the $21700 level after missing $22,500. Only after the return and consolidation around $22,580, which will reinstate the positive trend with the possibility of updating $23,350 and $24,000, will it be feasible to discuss the restoration of the buyers' initiative. The $25,034 level will be the farthest target, where significant profit-taking and a rollback of bitcoin may take place. The $21,700 level will need to be protected if the pressure on the trading instrument continues because a breach would be a blow to the asset. This will put pressure back on bitcoin and create a direct path to $20,740. The first cryptocurrency ever created will "drop" in this location along with $19,770 if this level is broken. Read next: Credit Suisse Reported Its Biggest Annual Loss Since The 2008, Ukrainian President Is Asking For Help And More Weapons In Brussels| FXMAG.COM The breakdown of the nearest resistance at $1,604 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. However, the market will not be significantly altered as a result. The amount will only be returned to the ether, with the possibility of growth to a maximum of $1,758 if there is a consolidation over $1,690. The $1,819 area will be further off target. While keeping pressure on the trading instrument, the level of $1,534 will be in play, just below which $ 1410 is seen. If it succeeds, the trading instrument will rise to a minimum of $1,320. It will be extremely difficult for bitcoin owners to trade below $1,260.   Relevance up to 08:00 2023-02-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/334756
Microsoft Is Replacing The Metaverse With Artificial Intelligence (AI)

AI Divergence Between Microsoft And Google Intensifies

Swissquote Bank Swissquote Bank 10.02.2023 10:34
US stocks failed to keep up with the European optimism on the back of rising bets that the Federal Reserve (Fed) could hike the interest rates to 6%. In fact, option traders are piling into bets that the US rates could peak at 6%. Mexico’s Banxico Plus, the surprise 50bp hike from Mexico’s Banxico, on the back of unexpected – and unwelcomed inflation jump since the end of last year, also raised worries that the US could experience a similar uptick in inflation, and, may have to raise rates higher. Optimism And the strong US jobs market, the latest recovery in energy and commodity prices on the Chinese reopening optimism, and the sudden jump in second-hand car prices are red flags… Stock market The S&P500 fell 0.88% yesterday, and Nasdaq retreated 0.90%. Topsellers will likely remain in charge of the market on the possibility that maybe inflation in the US may have not eased to 6.2% as expected by analysts. But nothing is clear before next Tuesday’s CPI release, in terms of Fed expectations. USD What’s interesting though, is that the hawkish Fed bets don’t translate fully into the US dollar valuation. The US dollar remains under pressure despite the positive pressure on the US yields. And the 50-DMA offers remain particularly solid in the US dollar index. Read next: Twitter Co-Founder Jack Dorsey Comments New Twitter's Owner| FXMAG.COM Bitcoin Finally, Bitcoin fell 5% on news that Kraken stops staking. Negative pressure in tech stocks could further weigh on appetite. Watch the full episode to find out more! 0:00 Intro 0:32 Swiss stocks fell on mixed bag of bad news 2:48 US stocks under pressure as option traders bet for 6% Fed rate 5:25 AI divergence between Microsoft and Google intensifies 5:57 Tesla rallies past $200 but… 6:47 US dollar remains offered at 50-DMA. What are traders waiting for? 7:29 Bitcoin under pressure as Kraken halts staking Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #Fed #peak #rate #hawkish #bets #US #inflation #Tesla #Google #Bard #AI #gaffe #Microsoft #ChatGPT #USD #EUR #JPY #Bitcoin #Kraken #CreditSuisse #Trafigura #Swatch #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
Tether Earns Money Through A Variety Of Commissions, The Company Achieved A Net Profit Of $700 Million

Tether Earns Money Through A Variety Of Commissions, The Company Achieved A Net Profit Of $700 Million

Jakub Novak Jakub Novak 10.02.2023 10:45
Tether presented a report yesterday that included its financial data for the final quarter of 2022. Notably, the largest stablecoin issuer in the world for the cryptocurrency market has just made public its first profit announcement. $700 million in the fourth quarter of 2022 Tether stated that the company achieved a net profit of $700 million in the fourth quarter of 2022 and that all of the money was kept on the balance sheet to boost the reserve. The previous quarter was highly successful for the company because it took advantage of the US Federal Reserve's hike in interest rates, which increased the yield on bonds that Tether also owns. Tether earns money through a variety of commissions, including a $1,000 withdrawal fee (with a $ 100,000 minimum withdrawal threshold), investments in digital tokens and precious metals, and loans to other organizations, according to experts. Tether is the creator of USDT As I mentioned before, Tether is the creator of USDT, the largest stablecoin in the world by market capitalization. However, as history demonstrates, this is not always the case. Stablecoins are digital tokens that are entirely backed by the equivalent value of reserve assets. Many lawmakers have long been concerned that the Tether token is not completely protected one-to-one with the corresponding amount of reserves. When terraUSD (LUNA), the supposedly algorithmic stablecoin, dropped to zero dollars in May last year, USDT momentarily lost its bound. Tether clarified that this was a product of USDT trading volatility and not a reflection of its capacity to pay back investors' funds. Read next: Twitter Co-Founder Jack Dorsey Comments New Twitter's Owner| FXMAG.COM Tether has declared that all commercial securities have been withdrawn  The fact that Tether formerly held the majority of its assets in commercial instruments in the form of unsecured short-term corporate debt, raising the possibility of a liquidity crisis, is another cause for concern. Since then, Tether has declared that all commercial securities have been withdrawn from its balance sheet and have been replaced with US Treasury bills. On which, incidentally, the corporation made good money, as we can see from the report. Tether announced yesterday that it had increased the amount of US government debt obligations once more, bringing the total to more than 58% of its assets. The technological state of bitcoin  Regarding the technological state of bitcoin right now, it is still under a lot of pressure. The bulls' immediate target is to defend the $21,700 level after missing $22,500. Only after the return and consolidation around $22,580, which will reinstate the positive trend with the possibility of updating $23,350 and $24,000, will it be feasible to discuss the restoration of the buyers' initiative. The $25,034 level will be the farthest target, where significant profit-taking and a rollback of bitcoin may take place. The $21,700 level will need to be protected if the pressure on the trading instrument continues because a breach would be a blow to the asset. This will put pressure back on bitcoin and create a direct path to $20,740. The first cryptocurrency ever created will "drop" in this location along with $19,770 if this level is broken. The breakdown of the nearest resistance at $1,604 is what ether buyers are concentrating on. This is going to be sufficient to establish a foothold at the current highs and keep the bullish trend going. However, the market will not be significantly altered as a result. The amount will only be returned to the ether with the possibility of growth to a maximum of $1,758 if there is a consolidation over $1,690. The $1,819 area will be further off target. While keeping pressure on the trading instrument, the level of $1,534 will be in play, just below which $1,410 is seen. If it succeeds, the trading instrument will rise to a minimum of $1,320. It will be very difficult for bitcoin owners below $1,260.   Relevance up to 08:00 2023-02-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/334758
Kenny Fisher talks British pound against US dollar. UK economy declined 0.3% in March, Bank of England chose the 25bp variant

Data This Morning Confirmed The UK Avoided A Recession At The End Of 2022

Craig Erlam Craig Erlam 10.02.2023 14:39
Equity markets are ending the week on a flat or slightly downbeat note which has largely reflected the mood all week, really. Central bankers, particularly from the Fed, have been out in force stressing caution over interest rate expectations. And it’s clearly had an impact following that red-hot jobs report last Thursday. Markets are now pricing in two more hikes from the Fed and possibly one cut later in the year. No time for sparkling wine I think it’s safe to say the sparkling wine can remain on ice after data this morning confirmed the UK avoided a recession at the end of 2022 by the narrowest of margins. So much so that there’s every chance that a tiny revision over the next couple of months confirms quite the opposite. Ultimately, this isn’t a story of whether the UK is in recession or not as that’s just a simple technical definition. It’s a story of zero growth – quite literally in the case of the fourth quarter – and the fact that this likely represents the recent past, present, and near-term future prospects for the UK economy. High but falling inflation and basically no growth for some time. It’s all a bit bleak really. Of course, that’s better than where we expected to be at this point so that’s a positive. The data towards the end of the year is actually quite difficult to pick apart due to the impact of one-off or temporary events like the world cup, the loss of premier league football, and most importantly, the many, many public sector strikes that continued into the new year. The negative impact on the pound was brief though as the data doesn’t tell us anything we didn’t already know, nor does it alter the outlook on inflation or interest rates. First big test of the recovery After showing solid resilience over the past few weeks, bitcoin finally appears to have entered into a correction phase after falling almost 5% on Thursday. The community won’t be too dismayed by the move as it was never just going to go from strength to strength and this correction will enable us to see just how quickly money pours back in. It should be an interesting couple of weeks. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
P2P Cryptocurrency Platform LocalBitcoins Is Shutting Down

P2P Cryptocurrency Platform LocalBitcoins Is Shutting Down

Sebastian Seliga Sebastian Seliga 13.02.2023 10:21
Crypto Industry News: Finland-based P2P cryptocurrency platform LocalBitcoins is shutting down after more than 10 years. The company officially announced the discontinuation of services on February 9, citing the difficult market conditions of the ongoing cryptocurrency winter. "Regardless of our efforts to address the challenges of restoring trading volume and declining market share, we have come to the regret that LocalBitcoins can no longer provide a Bitcoin trading service," said LocalBitcoins CEO Nikolaus Kangas. LocalBitcoins encouraged all customers to withdraw their assets from the platform, requesting continued Bitcoin withdrawals from the LocalBitcoins wallet. According to the announcement, users can withdraw cryptocurrencies for 12 months. As scheduled, LocalBitcoins will immediately suspend all new registrations from today. Trading will be suspended on February 16, and after that, users will only be able to log into the wallet to withdraw funds. Technical Market Outlook: The BTC/USD pair key short-term technical support located at $22,523 and $22,308 had been violated and the bears made a new local low at the level of $21,488. On the lower time frames, like H4, the momentum is still weak and negative, but bulls are tying to bounce towards the level of $22,328. The market trades below the short-term trend line resistance and below 50 and 100 MA. . A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Read next: Amazon Is Slowly Dismantling Tony Hsieh’s Version Of Zappos, Louisa Vuitton Doubled Sales| FXMAG.COM Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312414
Cryptocurrency Mining Facility Will Be Launched In Russia In Eastern Siberia

Cryptocurrency Mining Facility Will Be Launched In Russia In Eastern Siberia

Sebastian Seliga Sebastian Seliga 13.02.2023 10:27
Crypto Industry News: The Russian Federation intends to launch a cryptocurrency mining facility worth over $12.3 million in the coming months. According to a local Russian media report, this huge data center will be located in Buryatia, a Russian republic in eastern Siberia. The facility is expected to house 30,000 mining equipment and the projected total power consumption is 100 megawatts. The mining project is managed by the JSC Corporation and the Plenipotentiary of the President in the Far Eastern Federal District of the Russian Federation. According to a press release from KRDV, Bitriver-B, the operational arm of Russia's largest mining company Bitriver, has started construction by establishing critical infrastructure and providing the necessary energy equipment. The construction of the enterprise will be completed in the first half of 2023, where approximately 100 new jobs will be created. The main objective of KRDV is to drive the economic and infrastructural development of the Russian Far Eastern Federal District by supporting investment projects in several fields, including tourism, energy, health, etc. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,700 again, so the next target for bulls, seen at the level of $1,788 (September 2022 high) is moving away. The intraday technical support seen at $1,603 had been violated and the key technical support located at $1,487 is about to be tested by bears. Only a clear and sustained breakout below this level would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Read next: Amazon Is Slowly Dismantling Tony Hsieh’s Version Of Zappos, Louisa Vuitton Doubled Sales| FXMAG.COM Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312416
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Bitcoin's Further Movement In The Coming Days Will Depend On The Behavior Of The Stock Market

InstaForex Analysis InstaForex Analysis 13.02.2023 14:11
The previous week ended with the beginning of a long-awaited corrective movement for Bitcoin. At the end of Thursday, the cryptocurrency formed the largest red candle from November 9, and the price made a bearish breakdown of the $22k level. Bitcoin spent the weekend calmly consolidating below the $22k area. Buyers managed to stop the fall, and the price consolidated near the $21.8k support area. There are no clear signals for further price movement due to a decline in trading activity. However, this week can be the starting point for a deeper correction and a resumption of the bullish trend. Inflation data The Wall Street Journal reported that investors expect a probable extension of the key rate hike cycle by one month. They also noted the strong labor market as the main argument of the Fed in extending the period of raising the key rate. But there is a possibility that this will not happen if the pace of inflation decline accelerates. That is why the publication of statistical data on the consumer price index this week may become a key signal that will set the medium-term trend for the movement of risky assets. The consumer price index is at 6.5%, and according to the forecasts, the index will fall to 5%. Experts are betting on a further acceleration of the deflationary movement, and if the forecasts do not match the facts, the market reaction could be painful. In addition, the Securities and Exchange Commission is actively taking on the crypto market. The SEC recently succeeded in halting the stacking of a major U.S. crypto exchange. As of February 13, the regulator also influenced Paxos to stop the issuance of BUSD stablecoin. All actions of the SEC at the current stage have clearly negative consequences for the crypto market, as they scare away investors. In the long term, this may be a positive signal due to the likely increase in the level of security in the crypto market, but right now, the SEC policy is destructive for the price of crypto assets. Bitcoin and SPX Bitcoin retains a high correlation with the SPX index, and, as already noted, it was the activation of sellers on the stock market that contributed to the fall of both risky assets. According to Santiment experts, the positive correlation of BTC and SPX complicates the upward movement of the cryptocurrency. In addition, experts from the world's leading banks predict an early completion of the SPX rally and the beginning of a corrective movement to $3,500–$3,600. Morgan Stanley once again said that investor interest in SPX and stock indices reached a peak, after which a sell-off usually followed. BTC/USD Analysis Over the weekend, we saw local attempts by buyers to break through the round level of $22k. These attempts were completely absorbed by the sellers, after which the price returned to the usual area of $21.5k–$21.8k. Much of Bitcoin's further movement in the coming days will depend on the behavior of the stock market, and hence the results of the deflationary movement. If the forecasts correspond to the actual data, we should expect an upward movement of Bitcoin to the levels of $22.5k–$22.7k, where there is a local resistance zone. Subsequently, the cryptocurrency will need to gain a foothold above $23k in order to finally level out the bearish scenario. Otherwise, the price will start to decline, and the expected targets will be Fibo levels. This means that BTC/USD will move to the second stage of correction, which may become deeper. Results In any of the cases, except for fixing the price above $23k, Bitcoin is moving towards the second stage of correction. The estimated targets for the asset will be the $21.4k level and deeper to the $20k area. Below $21k, investor sentiment could drop heavily, which could lead to a breakdown of the $20k round mark. However, if the bullish sentiment persists, which will be visible on the main on-chain metrics, we will see active accumulation in the $20k–$21k area. Subsequently, this will allow Bitcoin to continue its upward movement towards the $24k–$25k levels.   Relevance up to 09:00 2023-02-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/334911
Chiliz announces public launch of layer 1 blockchain to take place on May 10

Boba Network Still Lags Behind In Terms Of Capital Flows

ByBit Analysis ByBit Analysis 13.02.2023 14:51
Daily Top Mover — Boba Network (BOBA) Major U.S. stock indices registered a weekly loss last week, with Nasdaq consolidating following a 15% rebound since its low in late December. The coming week might be volatile, with January’s CPI print due on Tuesday. Meanwhile, the broader cryptocurrency followed suit, with major tokens declining after January’s stellar rise. The top mover for today, BOBA, registered a 24-hour decrease of 5.9%, outperforming the broader market likely due to Uniswap deployment and a community event.  Learn more on Binance.com BOBA is the native token of Boba Network, a multichain Layer-2 network deployed on ETH, Avalanche, Moonbeam, and BNB with Hybrid Compute smart contracts. The recent outperformance comes as Uniswap votes to deploy on the network as well as an upcoming community event called Scale Web 3.0. Interestingly, the daily transaction on Boba Network has yet to see an uptick, while competitors such as Arbitrum and Optimism have received remarkable growth in both TVL and transactions in the same period. As such, Boba Network still lags behind in terms of capital flows among Layer 2 solutions despite the anticipation of a Layer 2 hype.   Check Out the Latest Prices, Charts, and Data for BOBA/USDT! Talk of the Town Royalty rights of Rihanna’s hit song “Bitch Better Have My Money” have been transformed into NFTs, which were sold a few minutes following the release. Each piece of the NFTs represents 0.0033% of the streaming royalties to the song, with a projected investment return of 6.5% per annum. AnotherBlock, the team behind the effort, is a web3 project that helps artists or rightsholders fractionalize their streaming rights in the form of NFTs. Check out what else is buzzing in the crypto scene today: DeFi giant MakerDAO integrates blockchain data provider Chainlink for DAI stablecoin. (Link) SushiSwap acquires Cosmos-based trading platform Vortex Protocol. (Link) China targets blockchain breakthroughs with Beijing Research Center. (Link) Microsoft disbands industrial metaverse project. (Link) Uniswap coming to BNB Chain? Governance says yes. (Link) Super Bowl crypto ads are lacking, but NFTs have a spot. (Link) Source: Bybit Blog | BOBA Rises Following Uniswap Deployment; Rihanna’s Music NFTs Sold Out
The Bears Of Bitcoin Made A New Local Low At The Level Of $21,488

The Bears Of Bitcoin Made A New Local Low At The Level Of $21,488

Sebastian Seliga Sebastian Seliga 14.02.2023 09:25
Crypto Industry News: The Central Bank of the United Arab Emirates (UAE) plans to introduce a central bank digital currency (CBDC) for domestic and cross-border use as part of its newly launched Financial Infrastructure Transformation (FIT) program. In a recent announcement, the Bank presented the FIT program and emphasized its goal of supporting the domestic financial services sector. The central bank stressed that the program will promote digital transactions and enable the UAE to compete as a hub for financial and digital payments. The first stage of the FIT program involves the issuance of CBDCs. According to the central bank, the release of the CBDC would "appropriately address the problems and inefficiencies of cross-border payments and help drive innovation in domestic payments." According to Khaled Mohamed Balama, the governor of the CBUAE, the FIT program will "support the UAE's thriving financial ecosystem and its future growth." In addition to the CBDC, the government also plans to launch a unified card payment platform to "facilitate the growth of e-commerce" and instant payment platforms to "promote financial inclusion and enable a cashless society" during the first phase of the program. The FIT program includes nine initiatives, including those that will be implemented in the first stage. The initiatives that will be introduced after the first stage are the e-Know Your Customer platform and the innovation hub. On February 7, Dubai's virtual asset regulator published the long-awaited "Full Market Products Regulations" which contain extensive guides on virtual asset activities for projects operating in the emirate. The regulations include a ban on the issuance of "enhanced anonymity cryptocurrencies", also commonly referred to as "privacy coins". Technical Market Outlook: The BTC/USD pair key short-term technical support located at $22,523 and $22,308 had been violated and the bears made a new local low at the level of $21,488. On the lower time frames, like H4, the momentum is still weak and negative, but bulls are tying to bounce towards the level of $22,328 to test it again. The market trades below the short-term trend line resistance (orange line on the chart) and below 50 and 100 MA. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Read next: GBP/USD Started The New Week In A Calm Way, EUR/USD Is Waiting For US CPI Report| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-02-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312594
A Hard Fork Can Raise The Ethereum Rate

The Key Technical Support For Ethereum Bulls Was Broken Already

Sebastian Seliga Sebastian Seliga 14.02.2023 09:30
Crypto Industry News: According to American media, the Securities and Exchange Commission (SEC) will sue Crypto Trust Co. Paxos for supporting the BinanceUSD (BUSD) stablecoin issuance. Additionally, Paxos is facing an investigation by the New York Department of Financial Services (NYDFS), which urged the company to stop further BUSD issuances, which Paxos has already done. What is BUSD? It is a Binance-branded stablecoin previously issued by Paxos, a New York-regulated custodianship that is temporarily licensed by the Office of the Comptroller of the Currency, a federal banking regulator. However, this is probably not the only problem, because last week the company received the so-called Wells notification, which means that regulators have identified irregularities in its functioning. The news actually comes just after the SEC imposed a $30 million fine on the Kraken exchange, alleging that its staking services were an offer of unregistered securities. Kraken did not admit or deny the SEC allegations as part of the settlement, but closed all of its US staking programs and paid the penalty. So we see that SEC chief Gary Gensler intends to enter the cryptocurrency industry with the door and the current investigation may be a broader operation. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,700 again, so the next target for bulls, seen at the level of $1,788 (September 2022 high) is moving out of sight. The key technical support located at $1,487 was tested by bears already and now the market is trying to bounce. Only a clear and sustained breakout below this level would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-02-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312600
Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Brazil’s Bank Allows To Pay Taxes Using Cryopto, Ford Will Cut Jobs In Europe

Kamila Szypuła Kamila Szypuła 14.02.2023 11:38
The development of cryptocurrencies gains momentum when we learn about the decision of one of the Brazilian banks allows to pay taxes with this form of payment. Car manufacturers are also switching to more modern methods. Ford plans to increase the production of electric cars, but for this purpose it is forced to reduce employment. In this article: Ford layoffs in Europe GIC continued to seek long-term investment opportunities in China Paying taxes with crypto Global supply chain Ford layoffs in Europe Ford is focused on the production of electric vehicles and is taking decisive action to this end. Ford said it intends to cut 3,800 jobs in product development and administration in Europe over the next three years. Ford will retain approximately 3,400 engineering positions in Europe, focusing on vehicle design and development, as well as developing related services. Ford to cut 3,800 jobs in Europe in shift to electric vehicle production https://t.co/t2ecTiu9Ez — CNBC (@CNBC) February 14, 2023 Read next: Walmart Plans To Close Offices, Ford Invests In Battery Factories | FXMAG.COM GIC continued to seek long-term investment opportunities in China According to research firm SWFI, GIC is the world's fifth largest sovereign investor with $690 billion in assets. It has large listed Chinese companies in its portfolio and has not announced any major sales of private Chinese companies in the last year. Over the past year, GIC has also reduced its commitments to China-focused private equity and venture capital funds. Singapore's sovereign wealth fund GIC said it continued to seek long-term investment opportunities in China. Singapore's GIC says still exploring China investment opportunities https://t.co/zk6KyfxSSI pic.twitter.com/7Oae0b0HNX — Reuters Business (@ReutersBiz) February 14, 2023 Paying taxes with crypto Countries are increasingly enabling payments with cryptocurrencies. In many countries, cryptocurrencies are becoming more and more common, and governments are working on regulations in this area. In Latin America, cryptocurrencies are more popular. An example may be the recent operation of one of the banks in Brazil. Brazil’s oldest bank allows residents to pay their taxes using cryopto. If this form works in this bank, we can expect other banks to follow this example, until it becomes one of the forms that Brazilians can pay taxes. What's more, other countries will follow this example. #cryptonews: Brazil’s oldest bank allows residents to pay their taxes using #crypto 🇧🇷 — CoinMarketCap (@CoinMarketCap) February 14, 2023 Global supply chain Multiple bottlenecks have disrupted global supply chains and the pandemic highlighted how interconnected the world is. The supply shock that started in China in February 2020 and the demand shock that followed the global economy shutdown revealed weaknesses in the production strategies and supply chains of companies almost all over the world. Last year, attention focused on the rising cost of living, but this will also affect the types and quantities of goods available and how quickly they reach store shelves. On the one hand, rising household bills and the impact of inflation may limit demand to some extent. The invasion of Ukraine is the root cause of much of the energy and food price inflation that countries are experiencing today. This has led to chaos in supply chains this year, fueling the global food crisis. Fertilizer shortages are also limiting agricultural production in many countries. What's more, international connections are now difficult, and problems with transport may generate higher costs. Economic and political events show how connected we are and how important it is for the global supply chain to remain stable. Transportation issues can lead to rising costs and worldwide disruption. Take a closer look at the global supply chain: https://t.co/BYTn9j6KYt pic.twitter.com/b1FHMle7bf — J.P. Morgan (@jpmorgan) February 13, 2023
Deciphering the Economic Puzzle: Unraveling Britain's Mixed Signals

In UK Labour Market Figures Showed Wages Excluding Bonuses Rising Once More

Craig Erlam Craig Erlam 14.02.2023 14:52
Stock markets got the week off to a strong start and that optimism is carrying through to the inflation report release, it would appear. European indices are trading around half a percentage point higher early in the day and US futures indicate a slightly positive open as well. Of course, all of that will probably change between now and the opening bell, with the inflation data being released an hour before. As was the case yesterday, I’m quite surprised at the level of optimism we’re seeing in the run-up to the report. The inflation data has a lot of heavy lifting to do in order to alleviate clear concerns over the tightness of the labour market. The January report has heaped more pressure on the CPI to deliver and forecasts are not that hopeful. Time will tell whether investors have been a little bit complacent on this one. A concerning wage number for the BoE UK watchers may be feeling a little less optimistic this morning after labour market figures showed wages excluding bonuses rising once more in December. They were expected to stay flat at 6.5% but instead jumped to 6.7%, a level still far below headline inflation and not consistent with it falling back to target any time soon. Including bonuses, the number was a slightly more modest 5.9% which is still too high but at least a deceleration from the month before. Following the release, UK yields were given a nudge higher, lifting the pound in the process alongside expectations on the terminal rate which is now seen hitting 4.5% and probably not falling this year. Read next: GBP/USD Pair Rose Sharply Above $1.22, EUR/USD Pair Also Rose| FXMAG.COM All hangs on CPI Bitcoin has also consolidated in the run-up to today’s inflation number. This ultimately becomes a case of whether markets go into risk-on or risk-off mode following the release. It has entered into a corrective move but that’s unlikely to continue if today’s inflation print falls short of expectations again. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Microsoft Is Replacing The Metaverse With Artificial Intelligence (AI)

Microsoft Is Replacing The Metaverse With Artificial Intelligence (AI)

Jakub Novak Jakub Novak 14.02.2023 15:47
While a technical correction is brewing in the crypto market, especially given the rally seen earlier this year, software giant Microsoft has announced that it is closing one of its largest Industrial Metaverse Core groups. The company reportedly laid off its entire Industrial Metaverse Core group of 100 employees. This came as part of an announced layoff of 10,000 people in January. Microsoft, the Washington-based software giant, abandons the metaverse in favor of other initiatives. According to The Information, the company has disbanded the Industrial Metaverse Core group, a division of the company dedicated to bringing the metaverse into an industrial environment. The group was created just four months ago and was expected to serve as a bridge to implement metaverse interfaces to control power plants, industrial robotics, and transportation networks. The division was part of the efforts directed to bring the metaverse to industrial environments by bridging software to this initiative. The tech giant's spokesperson comments "Microsoft remains committed to the industrial metaverse. We are applying our focus to the areas of the industrial metaverse that matter most to our customers and they will see no change in how they are supported. We look forward to sharing additional information in the future," the tech giant's spokesperson said. According to experts, this suggests that Microsoft will now use some of its resources from metaverse initiatives and pour them into other areas, such as artificial intelligence. Earlier reports show that Microsoft's cuts have affected other metaverse projects, as well as employees of the Altspacevr metaverse platform, which announced its closure by March of this year. Since January of this year, Microsoft has been actively investing in AI-based start-ups. Thus, against the backdrop of the crypto winter, it is not surprising that the company shut down a number of non-core projects and refocused on more alternative directions. Most likely, once the crypto industry "rises from the ashes," which will affect the emergence of new start-ups, including in the metaverse, it will be easier for Microsoft to invest in them at an early stage than to spend money and maintain their development. Read next: GBP/USD Pair Rose Sharply Above $1.22, EUR/USD Pair Also Rose| FXMAG.COM Bitcoin As for bitcoin, the pressure on it remains quite high. If BTC drops below $21,700, it may face another major sell-off. We can talk about the return of bulls to the market only after the return and fixation at $22,580, which will return the bullish trend with the prospect of hitting $23,350 and $24,000. The next target is located at $25,034, where a rather large profit-taking and a bitcoin pullback may occur. If the pressure on the trading instrument persists, bulls will have to protect $21,700, a breakthrough of which will be a blow to the asset. That will bring the pressure back on bitcoin, pushing the price down to $20,740. Breaking through this level, the world's first cryptocurrency may plummet deeper to the area of $19,770. The price may hit the highs Buyers of ether are now focused on returning the price back to the resistance of $1,521, which they failed to protect earlier this week. This will be enough to weather the drawdown and prevent a new sell-off in the asset. The price may hit the highs and continue its bullish trend only after getting above $1,604 and $1,690, which will bring the ether back in balance, with the prospect of rising to a high of $1,758. The next target is located in the area of $1,819. If the pressure on the trading instrument remains and the price declines, ether is likely to touch $1,410 and $1320. If these levels are pierced, the trading instrument may reach a low of $1,260, which would be quite painful for cryptocurrency holders.   Relevance up to 12:00 2023-02-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335071
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Momentum Of Bitcoin Is Still Weak And Negative

Sebastian Seliga Sebastian Seliga 15.02.2023 10:35
Crypto Industry News: Cathie Wood, CEO of the visionary investment fund ARK Invest, which holds positions in "future economy" companies, still believes in cryptocurrencies. Last Friday, the fund purchased another tranche of Coinbase shares, even as the cryptocurrency giant's shares fell by almost 85% from a record high of $ 348.98 on November 12, 2021 and the recent settlement between the Kraken exchange and the SEC market regulator, which pulled subsequent price drops. ARK Invest purchased 162,325 shares of Coinbase worth a total of USD 9.2 million, which is the third investment in two months and the fourth since November 2022. In November 2022, the fund purchased shares of Coinbase worth USD 56 million. The company's purchasing history shows that in the previous two rounds, it acquired shares worth $5.8 million and $3.3 million, respectively, and in December, shares worth $11.9 million. The value of Coinbase (COIN) shares has fallen sharply recently due to the controversy surrounding the popular exchange Kraken. After rising to $81 per share on Feb. 2, COIN has seen a massive 95% increase in just one month. Technical Market Outlook: The BTC/USD pair key short-term technical support located at $22,523 and $22,308 had been violated and the bears made a new local low at the level of $21,488. On the lower time frames, like H4, the momentum is still weak and negative, but bulls are tying to bounce towards the level of $22,328 to test it again. The market trades below the short-term trend line resistance (orange line on the chart) and below 50 and 100 MA, but any violation of this levels would have a bullish consequences. A breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Read next: Airbnb Posted A Profit Of $1.9. Billion, Air India And Largest Commercial Aircraft Deal In Aviation History| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-16 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312812
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

The Bulls Of Ethereum Continue To Move Higher

Sebastian Seliga Sebastian Seliga 15.02.2023 10:41
Crypto Industry News: Coinbase has been in the spotlight of the crypto world over the past few days as the U.S. Securities and Exchange Commission (SEC) investigates Coinbase's biggest competitor. The suspicions against the Kraken were confirmed and bore fruit in the form of a fine. For this reason, now Coinbase is in the spotlight and FUD affects the mood of Coinabse investors and customers. However, according to Coinbase, staking is not a violation of the Securities Act or even the Howey test. More importantly, Coinbase stated that forced staking under the Securities Act will be detrimental to users. This form of regulation through enforcement could push US users into unregulated offshore markets. Although new developments are taking place ahead of the Shanghai update, Ethereum validators and the ETH network remain undeterred. And according to Staking Rewards, so far the number of validators on the Ethereum network continues to grow. More specifically, the ETH network has seen an increase of 3.5% in the last 30 days. Growing revenue generated is one of the reasons why the number of validators continues to grow despite the negative press around staking. Only in the last month, validators generated an increase in revenues by 32.81%. Additionally, the overall ETH rate also increased. Currently, around 14% of all ETH is staked, and this number may change after the Shanghai update. Most ETH is staked through Lido and other centralized exchanges. Read next: Airbnb Posted A Profit Of $1.9. Billion, Air India And Largest Commercial Aircraft Deal In Aviation History| FXMAG.COM Technical Market Outlook: The key technical support on ETH/USD pair, which is located at $1,487 was tested by bears already and now the market is trying to bounce. The bulls had broken above the local trend line (orange line on the chart) and continue to move higher towards the 50 MA ($1,576). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-16 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/312814
Robert Kiyosaki Keeps Calling For The Collapse Of Fiat Money

Robert Kiyosaki Keeps Calling For The Collapse Of Fiat Money

Paolo Greco Paolo Greco 15.02.2023 10:54
Fed, ECB, and BA continue to tighten monetary policy It is even more encouraging to note on the 4-hour TF that bitcoin came very close to the level of $24,350 but was unable to pass it and did not even make a direct attempt to move higher. Although there was no obvious rebound from this point, the cryptocurrency may continue to put its stability to the test. However, we think that it is much more likely that it will fall below $18,500 (at least). This is supported by several global variables at once. First off, as the Fed, ECB, and BA continue to tighten monetary policy, safe assets become more alluring. Second, the QT (quantitative tightening) policy is causing the US money supply to continue to contract, which lowers the amount of potential investments. Remember that throughout the pandemic, Bitcoin was rapidly increasing, not because of the disease itself, but rather because numerous central banks around the world were actively boosting their economies by releasing hundreds of millions or billions of dollars in new money. Since there was constantly more money in the economy, it was obvious that it needed to be used in some way. Some of them chose the market for cryptocurrencies. The situation is entirely different right now. Robert Kiyosaki At the same time, well-known publicist and businessman Robert Kiyosaki keeps calling for the collapse of fiat money, a major global economic catastrophe, and the collapse of the global financial system. The world's central banks are still printing billions of dollars, and their currencies will keep losing value, according to Kiyosaki. Silver will cost $500, gold will rise to $5,000, and bitcoin will reach $500,000. In addition, Kiyosaki predicted that sooner or later, people will stop believing in the dollar and turn to bitcoin as "a currency for people." Remember that the bestselling author of "Rich Dad, Poor Dad" has already predicted the collapse of the world financial system. Both the previous year and this year, he made the same prediction. He does not recall the QT program for some reason, and he is uninterested in the fact that despite bitcoin's existence for 15 years, it has not yet been used as a form of payment by individuals. We think that this is just another attempt to "pump" Bitcoin to make it grow artificially. Remember that many experts who do not personally own bitcoin still think of it as a very dangerous and volatile investing tool. Cryptocurrency owners themselves will undoubtedly always talk about how much it will be worth in the near future. Read next: Airbnb Posted A Profit Of $1.9. Billion, Air India And Largest Commercial Aircraft Deal In Aviation History| FXMAG.COM Bitcoin The bitcoin cryptocurrency has distanced itself from recent highs on a 4-hour time frame by roughly $3,000 and so far does not appear particularly motivated to start growing again. The inflation report released today may have a significant influence on cryptocurrencies. Given that two inflation reports cannot double the value of bitcoin, we believe it will continue to fall. The most recent growth cycle appears to have been an unsuccessful attempt to accelerate growth. The bulls were unable to surpass the crucial $24,350 mark.   Relevance up to 16:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335109
The Ethereum Is Currently Approaching The Monthly Highs

Ethereum Plans To Implement A Type Of Sharding That Will Help Lower Transaction Costs

Binance Academy Binance Academy 15.02.2023 13:36
EIP-4844, also known as proto-danksharding, is a proposed upgrade to the Ethereum protocol meant to reduce fees and increase transaction throughput. It intends to achieve these objectives by introducing a new transaction type that accepts “blobs” of data. A simple way to understand EIP-4844’s function is the following alliterative phrase: “EIP-4844 bolts blobs onto blocks”. It is a transitional upgrade that will ultimately lead to full danksharding in the future, thereby enabling Ethereum to manage the capacity for a global transaction network.  Introduction For years, Ethereum developers have been seeking solutions to cater to a growing user base. Through what’s known as The Ethereum Upgrades, major improvements like The Merge and rollups have been proposed. These changes have helped Ethereum increase transaction throughput and lower transaction costs. However, fees remain too expensive for many and throughput is not where it needs to be, which slows down the pace of mass adoption. To address this issue, Ethereum has made data sharding its long-term solution. Since deploying data sharding is a long and complex process, EIP-4844 is being proposed as a transitional solution. As such, it will prepare Ethereum for full danksharding that will reach a throughput of around 100,000 transactions per second (TPS) without compromising decentralization or security. Learn more on Binance.com What Is EIP-4844? EIP stands for Ethereum Improvement Proposal, a protocol that allows developers to propose new features and solutions to the Ethereum protocol. Proto-danksharding is named after two Ethereum researchers, Proto Lambda and Dankrad Feist.    To understand EIP-4844, it’s necessary to first understand what sharding is. Simply put, it’s a way of partitioning databases into smaller ones that manage specific data segments, thereby improving the efficiency and performance of these databases.  When applied to blockchain — and Ethereum in particular — sharding takes on some unique features. Ethereum plans to implement a type of sharding, called danksharding, that will help lower transaction costs and increase throughput. Labeled the “scalability killer”, danksharding is expected to increase Ethereum’s TPS to around 100,000.  In comparison, the Ethereum base layer processes around 15 TPS and its layer 2 rollups process around 100 TPS as of Q1 2023. While these numbers are rough estimates, the effect of danksharding is clear: it will allow Ethereum to increase scaling by an order of magnitude. Some of the main differences between danksharding and previous Ethereum and non-Ethereum sharding proposals is that danksharding will attempt to provide more space for blobs of data, rather than for transactions (more on this later).  Another innovation of danksharding is the so-called merged fee market, where only one proposer chooses transactions for all shards, instead of each shard having its own proposer.  To make this merged fee market work and to alleviate the issue of maximal extractable value (MEV), a method called proposer/builder separation will also be implemented. A proposer is a validator of the Ethereum protocol (called a miner before the Ethereum Merge) that chooses which transactions to include in the next block.   EIP-4844 (proto-danksharding) is the step that will come before full danksharding and will increase TPS to approximately 1,000. Most importantly, EIP-4844 will introduce a new transaction type that accepts “blobs” of data — an important element of making full danksharding possible. EIP-4844 is expected to be implemented in the second half of 2023, though there may be delays. How Does EIP-4844 Work? At its core, EIP-4844 will introduce a new transaction type called blob-carrying transactions, which are like regular transactions but with added pieces of information known as binary large objects or “blobs”.  Ethereum contributor Ben Edgington summarizes EIP-4844 with the memorable alliterative phrase, “EIP-4844 bolts blobs onto blocks”. It succinctly describes how blob-carrying transactions entail “blobs” attached to blocks, which increases the amount of data blob-carrying blocks can handle.  This may be confusing as it seems akin to increasing block sizes — a contradiction of Ethereum’s stance against arbitrarily large blocks that would require greater computing power and could thus lead to centralization.  However, there are some critical differences between blockspace and blobspace. Blobs: bounded storage costs and no execution costs, but every node bears a bandwidth cost. Source: Ben Edgington Blobs are large in size but unlike blocks that are stored forever and visible to the Ethereum Virtual Machine (EVM), blobs are only available for a short period of time and are not visible to the EVM. Additionally, blobs reside on the Ethereum consensus layer instead of on the computation-heavy execution layer. Most importantly, blobspace is much cheaper than blockspace.  Aside from introducing blob-carrying transactions, EIP-4844 will also implement execution-layer logic, verification rules, multi-dimensional fee markets, and other system changes required for full danksharding in the future. One thing to note is that even though EIP-4844 will implement most of the logic of full danksharding, it won’t implement any actual sharding. Nevertheless, apart from getting Ethereum one step closer to achieving the cost and throughput levels needed for mass adoption, EIP-4844 can still offer some scaling and cost-saving benefits.      How Will EIP-4844 Benefit Users? EIP-4844 is a protocol upgrade that’s part of Ethereum’s rollup-centric roadmap. Preparation for the implementation of EIP-4844 is moving rapidly, with some devnets having already been run and the specs for the upgrade almost finalized.  Users will see noticeable improvements after EIP-4844’s implementation, mainly in the form of faster transactions and lower fees. The successful implementation of EIP-4844 will also make Ethereum more competitive in the cryptocurrency space. Some users may wonder what they should do if they want to access old blob data that has been deleted. As explained earlier, blobs reside on the Ethereum consensus layer, whose purpose is to provide a highly secure real-time bulletin board for other protocols’ longer-term storage. So, even though blobs are deleted after weeks, their data should still be available in longer-term storage elsewhere. Closing Thoughts EIP-4844 is a highly complicated Ethereum protocol upgrade that’s part of a larger roadmap and that’s connected to other system upgrades, such as proposer/builder separation (PBS) and EIP-1559 blob fee adjustment. While an understanding of EIP-4844 will better prepare average users for the coming changes, one should note that most of that change will come in the form of lower costs and faster transactions. The Ethereum protocol is constantly evolving and improving. EIP-4844 is one of the critical near-future upgrades meant to enhance the network’s capabilities. Successful implementation of EIP-4844 will make Ethereum highly competitive as a global transaction network. Further Reading What Is the Ethereum Arrow Glacier Upgrade? The Merge Ethereum Upgrade: All You Need To Know What Is the Ethereum London Hard Fork? What Is the Ethereum Shanghai Upgrade and How Will It Affect Me? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
EOS Offers Its Users Nearly Free Transactions

EOS Offers Its Users Nearly Free Transactions

Binance Academy Binance Academy 15.02.2023 13:42
TL;DR EOS is a Layer 1 blockchain designed to address scalability issues first-and second-generation blockchains face. As the longest-running blockchain after Bitcoin and Ethereum in the industry, it has been used by developers to build blockchain applications and ecosystems. This has, in turn, unlocked use cases in the supply chain, decentralized finance (DeFi), and gaming finance (GameFi) sectors, among others. Learn more on Binance.com Introduction EOS was launched in 2018 using open-source technology from Cayman Island-based company B1. In its early days, EOS was known to outperform other projects, thanks to its technical innovation. However, development slowed, and the venture capital pledged to community projects building on EOS fell through. Faced with these challenges, projects on EOS no longer had the resources needed to continue operating on the network. In solidarity, EOS Block Producers reached a consensus on creating a new entity called the EOS Network Foundation (ENF), which is now responsible for efficiently deploying capital and moving EOS forward. EOS Block Producers also passed a proposal to stop locking up tokens — or token vesting — for use by B1, and the EOS Network became a decentralized autonomous organization (DAO).  On September 21, 2022, to achieve absolute code independence, community engineers led by the ENF shifted away from EOSIO 2.0 to Leap 3.1, the C++ implementation of the new Antelope protocol. Today, with its new features, EOS continues to tackle scalability challenges faced by blockchains. What Is EOS? EOS token EOS uses Delegated proof-of-stake (DPoS) as its consensus mechanism. Its native token, EOS, is a utility token used on the network to purchase system resources, participate in EOS governance, transfer value on native applications, and account for value by investors and speculators. Token holders can also stake their idle EOS tokens to receive a percentage of the fees collected by users who wish to use EOS system resources through the EOS PowerUp Model. Introduction to the EOS Blockchain In many real-world situations, scalability is the most significant barrier to establishing public blockchains. Blockchains’ scalability issue typically emerges when a network grows and its transactions increase.  Commonly debated blockchain performance measures such as swaps per second, transaction throughput, and latency are have yet to achieve a sufficient quality-of-service level in many blockchains. Through its aforementioned ecosystem features, EOS aims to address these limitations without compromising network security or developer freedom. A WebAssembly C++ engine At the core of the EOS blockchain resides a high-performance WebAssembly (WASM) engine that executes smart contract code. This engine is designed to meet the demands of blockchain applications that require far more from a WASM engine than web browsers do. High throughput, faster confirmations, and low latency A good user experience demands reliable feedback with a delay of not more than a few seconds. EOS achieves high transaction throughput because its DPoS mechanism need not wait for all the nodes to complete a transaction to achieve finality. This asynchronous style of validation results in faster confirmations and lower latency, i.e., the time taken for a transaction to be confirmed as accurate after it has been initiated.  EVM integration EOS has an Ethereum-compatible Virtual Machine (EOS EVM) that allows Solidity developers on Ethereum to enjoy the EOS blockchain’s scalability and reliability. This includes nearly free transactions for their users, as well as access to the open-source code libraries and tooling to which they are already accustomed.  Permissions through access keys The underlying design of the EOS blockchain incorporates a comprehensive and highly flexible permissions system to create custom permission models for various use cases. Account owners can grant specific authorizations to third parties while having the power to revoke these permissions at any time. EOS supports hierarchical account structures, which enable any user to manage multiple smart contracts under a single parent account. Alternatively, an account owner can divide the authority required to modify a smart contract across various accounts. Flexibility Due to its protocol design, applications deployed on EOS are upgradeable. This means developers can deploy code fixes, add features, and change the application’s logic as long as they have the necessary authority to do so. EOS also allows developers to deploy smart contracts that cannot be modified. These decisions are left to the discretion of EOS developers rather than at the mercy of the protocol. Programmable resource allocation and governance Developers can modify system smart contracts to create customized economic models and governance rules. Since the core layer of code does not always have to be updated for changes to occur, this on-chain mechanism can be modified using system smart contracts. What Makes EOS Unique? Human-readable accounts EOS leverages human-readable accounts to make it easier for users to remember their own accounts, as well as those with which they interact. Instead of long strings of random characters, EOS accounts usually use recognizable addresses such as “Alice.gm”. Affordable transaction fees EOS offers its users nearly free transactions, making it ideal for sending or receiving micropayments. This addresses one of Web3’s greatest barriers to entry, since gas fees on other chains can add significant costs to a single purchase.  Near-instant finality In cryptocurrency transactions, finality refers to the assurance or guarantee that the transactions cannot be reversed or altered after completion. The speed of a blockchain will impact its finality rate, as it determines how quickly transactions are confirmed and finalized. Currently, EOS’s finality is approximately three minutes — much faster than Bitcoin’s 60 minutes and Ethereum’s six minutes.  In contrast with Web2’s finality, however, three minutes is still slow. Therefore, the ENF and its key technology partners — known as the Antelope coalition — launched the Instant Finality initiative to offer users instant and irreversible transaction settlement. Energy efficiency EOS’ DPoS mechanism allows its nodes to validate transactions more quickly and with fewer network resources. Because it does not involve mining like proof-of-work (PoW) networks, the EOS Network is one of the industry’s more energy-efficient blockchains. Base layer insurance  Recover+ (R+ for short) is a cybersecurity portal and rapid incident response program designed to safeguard EOS DeFi projects and their users with bug bounties and white-hat incentives. With a response program, stolen funds can be recovered swiftly in the event of malicious hacks.  On November 5, 2021, blockchain lending platform Pando Rings was exploited for over $70m. While Pando Rings is not an EOS-based application, the attacker stole over $2m in EOS tokens. Thanks to this program, the Recover+ team was able to intervene and freeze the stolen funds, thereby protecting EOS DeFi users. EOS Working Groups Since the ENF was established in 2021, it has funded several EOS Working Groups for ecosystem improvements. It has also recommended a course of actionable items through “Blue Papers”, which offer suggestions for enhancements in several areas, including core infrastructure, APIs, SDKs, DeFi, and security analysis tooling. EOS Network Ventures EOS Network Ventures (ENV) is a $100m venture capital fund whose mission is to attract capital investment and deploy it to benefit the EOS Network. It also makes strategic equity and token-based investments into tech start-ups in the Web3 space. ENV’s scope includes — but is not limited to — GameFi, the metaverse, eSports, NFTs, and fintech. EOS Network Foundation The EOS Network Foundation (ENF) is a community-led non-profit founded by Yves La Rose in September 2021. Its mission is to identify opportunities for investment, seed funding, and collaboration in pursuit of Web3 innovation. To do so, the ENF coordinates public goods funding and non-financial support for the growth, development, and worldwide adoption of the EOS Network. Since its establishment, multiple public goods programs have been organized and funded, contributing to key EOS developments. On November 9, 2022, the ENF announced that it had initiated a proposal to launch a $100m ecosystem fund to be managed by ENV. Closing Thoughts As the longest-running blockchain after Bitcoin and Ethereum, EOS has overcome past challenges and adapted to present demands since its inauguration. It continues to move towards a robust system, using its performance, flexibility, and scalability to create native Web3 GameFi experiences for both developers and end-users. Further Reading What Is Layer 1 in Blockchain? Proof of Work (PoW) vs. Proof of Stake (PoS) What Is Proof of Work (PoW)?
In Crypto, You Could Prove You Own A Private Key Without Revealing It

In Crypto, You Could Prove You Own A Private Key Without Revealing It

Binance Academy Binance Academy 15.02.2023 13:52
TL;DR A zero-knowledge proof allows one party (a verifier) to determine the validity of a statement given by another party (the prover) without any knowledge of the statement’s content. For example, Binance may want to prove it has backed its users’ funds fully in reserves without revealing all individual user balances. A “Proof of Reserves” could be constructed with a Merkle tree that protects against falsification of its internal data, in this case, its total net customer balances, being liabilities of the exchange to its users. This can then be combined with a zk-SNARK (a zero-knowledge proof protocol) that ensures users can check their balance forms part of the total net user asset balance without knowing individual balances. Introduction In light of market events, the security of crypto assets in custody has become a critical topic. Blockchain users highly value transparency and openness but also support privacy and confidentiality. This creates a dilemma when proving reserves of funds held by custodians. Often, there is a trade-off between transparency, trust, and data confidentiality. However, this doesn’t have to be the case. By combining zero-knowledge proof protocols like zk-SNARKs with Merkle trees, we can find an effective solution for all parties. Learn more on Binance.com What Is Zero-Knowledge Proof? A zero-knowledge proof allows one party (a verifier) to determine the validity of a statement given by another party (the prover) without any knowledge of the statement’s content. Let’s look at a simple example. You have a locked safe that only you know the solution to. The safe, for the sake of the example, cannot be picked, forced, or opened in any other way than by knowing the combination. This fact is also established, verified, and known by your friend participating in the experiment. You state you know the combination to your friend, but you don’t want to give it away or open the box in front of them. On top of the box is a hole that your friend can put a note through. To make this a zero-knowledge proof, your friend shouldn’t have any extra information about the process other than the given statement. You can prove to your friend that you know the combination by opening the box, telling them what was written on the note, and closing it again. At no point have you, however, revealed the combination. For a more advanced example, see our What Is Zero-knowledge Proof and How Does It Impact Blockchain? article. Why Do We Use Zero Knowledge Proof? Zero-knowledge proofs are suitable for proving something without revealing sensitive information or details. This could be the case if you don’t want to hand over your financial or personal information that could be inappropriately used. In crypto, you could prove you own a private key without revealing it or digitally signing something. A cryptocurrency exchange may also want to prove the status of its reserves without revealing confidential information about its users, including their individual account balances.  For these examples (and many others), a zero-knowledge proof would use algorithms that take a data input and return “true” or “false” as an output.  Defining Zero-Knowledge Proofs in Technical Terms A zero-knowledge proof, in technical terms, follows a specific structure with certain criteria. We’ve already covered the prover and verifier roles, but there are also three criteria a zero-knowledge proof should cover: Completeness. If the statement is true, a verifier will be convinced by the provided proof, without the need for any other information or verification. Soundness. If the statement is false, a verifier won’t be convinced of a statement’s truth by the provided proof. Zero-knowledge. If the statement is true, the verifier doesn’t learn any information other than the statement being true. What Is a zk-SNARK? A zk-SNARK (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) is a proof protocol that follows the zero-knowledge principles previously outlined. With a zk-SNARK, you could prove that you know the original hashed value (discussed further below) without revealing what that is. You could also prove the validity of a transaction without revealing any information about the specific amounts, values, or addresses involved. zk-SNARKs are commonly used and discussed within the blockchain and cryptocurrency world. But you may wonder why someone would bother using a zk-SNARK when they could use a simple public and private key pair method to secure the information. However, we would not be able to implement the mathematical proof to ensure no negative balances are included and the sum of the Merkle tree.  In the case of an exchange’s reserves, we want to prove 1:1 backing of customers' balances without the identifiers and balances of each account being made public. In addition, the zk-SNARK technology makes falsifying data even more unlikely. What Is a Merkle Tree? Presenting the summed funds of Binance users’ accounts requires working with a large data set. One way to present this large amount of data cryptographically is to use a Merkle tree. A vast amount of information can be efficiently stored within it, and its cryptographic nature makes its integrity easily verifiable. Hash functions To succinctly encode an input, a Merkle tree depends on the use of hash functions. In short, hashing is the process of generating a fixed-size output from an input of variable size. In other words, when an input of any length is hashed through an algorithm, it will produce an encrypted fixed-length output. So long as the input remains the same, the output will too. This means we can take huge amounts of transactional data and hash it into a manageable output. The output will be radically different if any information is changed in the input. For example, we could take the content of 100 books and input them into the SHA-256 hash function. It would then provide something like this as an output: 801a9be154c78caa032a37b4a4f0747f1e1addb397b64fa8581d749d704c12ea If we then changed a single character of the input (those 100 books), the hash would be completely different, like so: abc5d230121d93a93a25bf7cf54ab71e8617114ccb57385a87ff12872bfda410 That’s an important property of hash functions because it allows for easy verification of data accuracy. If anyone replicates the process of hashing those same 100 books using the SHA-256 algorithm, they will get the exact same hash as the output. If the output is different, we can affirm with certainty that the input was changed. This means there’s no need to individually or manually check for differences between the inputs, which can be labor-intensive. Merkle trees in the cryptocurrency world When storing transaction data on a blockchain, each new transaction is submitted through a hash function, which generates unique hash values. Imagine we have eight transactions (A to H) that we individually hash to get their hashed outputs. These are what we call the Merkle leaf nodes. In the image below, you can see the unique hash value of each letter: hA for A, hB for B, hC for C, etc. We can then take pairs of hashed outputs, combine them, and receive a new hashed output. The hashes of hA and hB hashed together, for example, would give us a new hashed output of hAB known as a Merkle branch. Note that each time a new output is generated, it comes with a fixed length and size, according to the hash function used. Now, we have the data of two transactions (e.g., A and B) combined in one hash (hAB). Note that if we change any information from A or B and repeat the process, our hashed output hAB would be completely different. The process continues as we combine new pairs of hashes to hash them again (see the image below). We hash hAB with hCD to get a unique hash hABCD and do the same with hEF and hGH to get hEFGH. In the end, we receive a single hash representing the hashed outputs of all previous transactions’ hashes. In other words, the hashed output hABCDEFGH represents all the information that came before it. The graph displayed above is called a Merkle tree, and the hashed output hABCDEFGH is the Merkle root. We use Merkle roots in block headers, as they cryptographically summarize all transaction data in a block in a succinct manner. We can also quickly verify if any data has been tampered with or changed within the block. The Limitations of Merkle Trees Let’s return to our CEX reserves example. A CEX wants to prove the 1:1 backing of all its customers’ assets and builds a Merkle tree that hashes together its customer UIDs with their net asset holdings (netting off assets and liabilities) at a token level. Once released (and signed to prove ownership over the Merkle root provided), an individual user would have no way of checking if the Merkle tree is valid without accessing all its inputs. An exchange may have missed including some inputs. It could also create fake accounts with negative balances to alter the total liability. For example, although customers’ assets may total $1,000,000, a fake account could be added with a balance of -$500,000. This would create a reserves target of only $500,000. The case for proof of reserves is different from a block’s Merkle root, as users can see all the transactions a block contains on a blockchain explorer. A CEX, however, won’t want to disclose each account balance for security and data privacy reasons. Customers too would not be happy with their account balances being made public. In this case, the CEX cannot prove that user balances add up to the correct total without making other user balances visible. One solution that exchanges may consider employing is using a trusted third-party auditor. The auditor can check the individual accounts and reserves before finally attesting to the validity of the Merkle root provided. However, for users, this method requires trust in the auditor and the data used for the audit. You don’t have to rely on a third party when you can trust the data. Combining zk-SNARKs With Merkle Trees The above issue is a perfect case for using zk-SNARKs. We want to prove that reserves fully cover user liabilities and aren’t falsified. However, for privacy and security reasons, we don’t want to show the verifier the exact makeup of user balances and reserves.  By using a zk-SNARK, a crypto exchange can prove that all Merkle tree leaf nodes’ balance sets (i.e., user account balances) contribute to the exchange’s claimed total user asset balance. Each user can easily access their leaf node as having been included in the process. The zk-SNARK also ensures any Merkle tree generated doesn’t contain users with a negative total net asset balance (which would imply falsification of data, as all loans are over-collateralized). Also used is a calculation of Binance’s global state, i.e., a list of the total net balance of each asset each Binance customer holds. Let’s take a look at how Binance approaches the situation. To begin, Binance defines the constraints of the computation it wishes to prove and defines them as a programmable circuit. Below is the set of three constraints Binance uses in its model.  For each user’s balance set (Merkle tree leaf node), our circuit ensures that: A user’s asset balances are included in the calculation of the sum of the total net user balances with Binance. The total net balance of the user is greater than or equal to zero. The change of Merkle tree root is valid (i.e., not using falsified information) after updating a user’s information to the leaf node hash. Binance can then generate a zk-SNARK proof for the Merkle tree’s construction according to the circuit. This entails the exchange executing the heavy computation of hashing users’ IDs and balances while ensuring the proof passes the constraints. A verifier will examine the proof (and its publicly released open-source code) to be convinced that the computation is executed with all constraints met. The verification computation takes an extremely short time compared to the proving time. At each Proof of Reserves release, the exchange will publish: 1. The Merkle proof for each user. 2. The zk-SNARK proof and public input (a hash of the list of the total net balance of each asset and Merkle root) of the circuit for all users. Interested parties can verify the Merkle proof, ensuring their individual balances contributed to the Merkle tree root. They can also verify the zk-SNARK proof to ensure the construction of the Merkle tree meets the constraints defined in the circuit. For a more detailed explanation of the zk-SNARK solution and its performance, refer to our How zk-SNARKs Improve Binance’s Proof-of-Reserves System blog. Closing Thoughts zk-SNARKs provide the technology needed to ensure both data integrity and privacy at the same time. Its application for proving reserves and increasing CEX transparency should help build trust in the blockchain industry. For many, a development like this has been long awaited and comes at a pivotal time for CEXs. This is the first version of our zk-SNARK, and we are looking forward to receiving community feedback so we can continue to improve the system. Further Reading (Blog) How zk-SNARKs Improve Binance’s Proof-of-Reserves System (Academy) Proof of Reserves (PoR) (Academy) What Is Proof of Reserves and How it Works on Binance (Announcement) Binance Releases Proof of Reserves System
FX Markets React to Rising US Rates: Implications and Outlook

The Trend Remains Positive But It May Be Stalling

Craig Erlam Craig Erlam 15.02.2023 14:05
Equity markets are poised to open a little softer on Wednesday following similar moves in Asia overnight as investors weigh up the latest setback in US data. The inflation report really needed to over-deliver after the red-hot labour market figures earlier in the month and it simply didn’t do it. The trend remains positive but it may be stalling and that won’t give the Fed any encouragement to stop raising interest rates. The next 25 basis point hike was never really in doubt anyway but now markets are factoring in much more, including another in May and a good chance of one more in June. What’s more, those rate cuts that were priced in for the end of the year only a couple of weeks ago are no more. Markets are pricing in the possibility of one but the anticipated year-end rate is now significantly higher, as is the terminal rate. A long way to go UK inflation may still be far too high but the January CPI report has offered some cause for optimism, slipping faster than expected on both a headline and core basis. The headline number remains above 10% so there’s still a very long way to go but favourable base effects and lower energy prices should go a long way in driving this much lower over the course of the year. The BoE may be particularly encouraged by the core decline as this is where we’re likely to see stubbornness but we must remember that this is just one release and there will likely be many setbacks over the course of the year. Correction run its course? Bitcoin enjoyed a decent rebound on Tuesday despite broader market sentiment being more challenging on the back of the US inflation report. We continue to see resilience in cryptos which is very encouraging despite regulatory headlines not being particularly good. Of course, it’s now retraced back to a level that was a notable area of support in late January and early February before it corrected and we’ll soon see whether that’s become a bearish resistance zone or the corrective move has run its course. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

The Crypto Market Is Also Highly Volatile, So Drastic Price Swings Require Traders To Think Fast

Binance Academy Binance Academy 16.02.2023 09:09
TL;DR Trading psychology represents the emotional aspect of a trader’s decision-making process. Every trader, to a certain extent, has emotional triggers. The two primary emotions that affect traders are fear and greed — both can lead to poor decisions, such as going all-in on one asset or panic-selling out of fear.  Even if a trader knows how to perform technical and fundamental analysis at a high level, a weak or anxious mind easily swayed by emotions can be highly detrimental to their portfolio — especially in a volatile trading environment like crypto. Learn more on Binance.com What Is Trading Psychology? Trading psychology refers to the psychological factors that influence how people trade in markets like crypto or stocks. It is based on the idea that emotions can significantly impact a trader's decision-making process.  For example, greed can drive a trader to make a high-risk decision, like buying a cryptocurrency at its peak due to its rapidly rising price. In contrast, fear can result in a trader prematurely exiting the market. FOMO is particularly prevalent when an asset has appreciated significantly in value over a relatively short period of time. This has the potential to cause a person to make market decisions based on emotion rather than logic and reason. Every trader is affected by emotion. For most people, losing money is painful, while earning money is joyful.  Why It’s Important To Understand Your Mindset When Trading Fear and greed are the two primary emotions in trading.  Fear can drive a trader to avoid all risks and possibly miss out on a successful trade. On the other hand, greed can lead to excessive risk-taking to maximize profits, such as buying an asset at its peak because its price is rising rapidly.  Experienced traders know to strike a balance between fear and greed. Fear protects traders from taking unnecessary risks, while greed motivates them to capitalize on opportunities. Over-reliance on either emotion, however, typically leads to irrational trading decisions.  Learning to trade with the correct mindset is as important as performing fundamental analysis or knowing how to read a chart. By understanding and controlling their emotions, traders can make informed decisions and minimize losses. Making unemotional decisions is, of course, easier said than done. Traders deal with a variety of challenges every day that can invoke an emotional response. Here are a few examples. Unrealistic expectations: Trading is not a get-rich-quick scheme. People who go into trading with this idea are in for a rude awakening. Like any skill, trading requires years of practice and discipline. Losing: Even the best traders have gloomy days. For new traders, losing trades is a tough concept to grasp and often leads to even more failed attempts to try and outwit the market. Winning: While winning feels good, the downside is that traders may feel a sense of over-confidence or invincibility, and may be under the false perception that they can’t lose. This can lead to riskier decisions and ultimately, losses.  Market sentiment and social media: Beginner traders are easily influenced by what people say on the Internet. Negative sentiment on social media can lead to fear, which can result in panic selling. It’s equally unwise for a trader to blindly follow an influencer’s advice to buy a specific token, especially if the influencer is sponsored by the token’s project and paid to promote it. How to Use Trading Psychology to Become a Better Trader Think long term Set achievable goals. A realistic plan of what you want to achieve helps prevent over-trading or getting too emotional due to unrealistic expectations. It will also help keep your focus on the long-term goal rather than short-term gains or losses. Take a break  Regular breaks can provide much-needed perspective and clarity on where things stand. If you hit a string of winning trades, step back before you get carried away into overtrading. Additionally, pulling all-nighters will cause you to burn out and as a result, make bad decisions. Breaks are beneficial not only for your portfolio but also for your own physical and mental well-being. Learn from mistakes Everyone makes mistakes when trading. Instead of getting angry at yourself or worse, trying to recoup your losses with even more capital, go back and analyze what went wrong. Implement new strategies based on what you learn from previous mistakes and you’ll be more prepared the next time.  Set rules   Create a detailed trading plan and stick to it. This plan will outline how you approach different situations and will help keep your reactions under control during times of stress. Some examples include using stop-losses and take-profits, limiting how much money you can gain or lose in one day, and a risk management strategy with which you’re comfortable.  With a clear plan in mind, you’ll know exactly what steps need to be taken without allowing an emotional response to derail your decisions, ensuring you don’t stray from the initial plan you set out for yourself before entering a position.  Is Trading Psychology Different In Crypto? Trading psychology holds true for any asset class, including crypto. Humans are all similar to a certain degree, particularly regarding money. Most people, for instance, don’t enjoy losing money and vice-versa. Additionally, traders of any asset feel excited when they’re on a hot streak.  However, there are a few unique psychological challenges crypto traders face. Unlike the stock market, which closes on weekends, the cryptocurrency market is open 24/7. As a result, crypto traders always have access to trading tools, their assets, and, most importantly, potential opportunities. For a trader who is prone to making emotionally charged trading decisions, having 24/7 access can be very costly.  The crypto market is also highly volatile. Coin prices have doubled before dropping back to where they started — all within a day. Such drastic price swings require traders to think fast while maintaining a strong sense of discipline.  For example, professional traders don’t jump onto a rapidly rising asset just because everyone is talking about it, nor do they decide to risk all their capital because the market closes green for a day. Read next: USD/JPY Is Above 133.30, GBP/USD Droped Form $1.21 to $1.20, The Aussie Pair Is Trading Below $0.69| FXMAG.COM Closing Thoughts Emotions are one of the most common pitfalls in crypto trading. Learning to control your emotions by understanding your mindset and emotional triggers is an invaluable skill that will protect you from chasing gains or hitting the panic button and liquidating your portfolio.  Ultimately, becoming a good trader requires years of consistent learning and practice. There’s no shortcut or life hack to getting rich by trading. Follow a strategy that suits your financial situation, keep practicing, and don’t let fear or greed force you to make a decision you wouldn’t usually make.  Further Reading The Psychology of Market Cycles What Is the Crypto Fear and Greed Index? What Are Behavioral Biases and How Can We Avoid Them? What Are Stop-Loss and Take-Profit Levels and How to Calculate Them? How to Trade Crypto Responsibly Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice
Now The Ethereum Market Is On The Monthly Highs Trying

Now The Ethereum Market Is On The Monthly Highs Trying

Sebastian Seliga Sebastian Seliga 16.02.2023 09:28
Crypto Industry News: According to the media, the president of the United States is to appoint Laela Brainard, vice chairman of the Federal Reserve, as his chief economic adviser. The problem is that it is considered a staunch enemy of cryptocurrencies. He claims these could undermine US financial stability. On the other hand, she is in favor of issuing a digital dollar that would be highly centralized and monitored by the authorities. Brainard is not someone anonymous in the Democratic community. She had previously worked at the White House, serving as deputy director of the National Economic Council (NEC). It happened during the tenure of President Bill Clinton. In 2014, she was also nominated for the position of governor of the Fed by Barack Obama. But let's get back to her attitude towards cryptocurrencies. She had previously expressed concern about the rise of decentralized finance (DeFi), saying this new technology could be exploited by criminals. At the same time, she is delighted with the idea of creating a digital dollar. She acknowledged that the US central bank is already working on such a financial product, and said that a digital version of the dollar could provide better consumer protection and monetary stability. As a consolation, we can add that she is probably not a supporter of the cryptocurrency ban. Six months ago, she appealed to the authorities to quickly regulate this market. Read next: USD/JPY Is Above 133.30, GBP/USD Droped Form $1.21 to $1.20, The Aussie Pair Is Trading Below $0.69| FXMAG.COM Technical Market Outlook: The key technical support on ETH/USD pair, which is located at $1,487 was tested by bears already and now the market is on the monthly highs trying to test the level of $1,713. The bulls had broken above the local trend line and continue to move higher towards the next target. Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 09:00 2023-02-17 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313001
Albemarle Will Be A Proxy For What We Can Expect From Lithium Companies' Earnings, Tesla Maintains Its Lofty Production Targets

Tesla Will Make Supercharger Network, Visa Will Allow The Use Of Cryptocurrencies To Settle Transactions

Kamila Szypuła Kamila Szypuła 16.02.2023 11:46
Cryptocurrencies are becoming more and more popular. Visa takes the future of cryptocurrency as a means of payment very seriously. Tesla is the most popular manufacturer of electric cars, but it creates stations for non-Tesla customers. In this article: Visa and crypto Highest level since mid-August 2022 America electric vehicle charging network Visa and crypto The implementation of cryptocurrencies into everyday life is progressing much faster. Companies and financial institutions are aware that revolution and payments are just taking place and if someone is left behind, they may suffer the consequences, e.g. bankruptcy. Visa, an international payment technology company, announced that it will allow the use of cryptocurrencies to settle transactions in its payment network. This is a pilot programme. Visa is another international financial institution that is opening up to the world of cryptocurrencies. The global leader in payment technology begins cooperation with Crypto.com. You will be able to pay with a Visa Crypto debit card without having to convert funds from digital currency to traditional. The payment card provider announces that it intends to make its system available to fintech companies and neobanks dealing with cryptocurrencies. Cooperation with Crypto.com is another signal sent by Visa that it takes the future of cryptocurrency as a means of payment very seriously. #cryptonews: @Visa to launch #Bitcoin and #crypto cards in the UK and 40 other countries 🚀 — CoinMarketCap (@CoinMarketCap) February 16, 2023 Read next: Apple Is Facing Multiple Lawsuits And Enforcement Actions| FXMAG.COM Highest level since mid-August 2022 The cryptocurrency market is also very volatile. Coin prices could double before falling back to where they started, and it could all happen in one day. Bitcoin is the most popular currency among cryptocurrencies, which is why its movement is closely monitored. The price of Bitcoin on Thursday reached its highest level since mid-August 2022. Last year, nearly $1.4 trillion disappeared from the cryptocurrency market after the turmoil that brought bankruptcies, project and company failures. All this was crowned with the collapse of the large FTX exchange. Rising Federal Reserve interest rates to fight inflation have also weighed heavily on crypto markets. Bitcoin is also closely correlated with the stock markets, and in particular with the high-tech Nasdaq index. Bullish sentiment in risky assets was supported by the opinion that the economic slowdown may not be as bad as expected and the Fed may slow down the pace of interest rate hikes. Cryptocurrency markets rallied on Thursday, rejecting the US government's tougher regulatory stance.The value of the entire cryptocurrency market increased by over $84.8 billion in 24 hours. Bitcoin surges 11% despite U.S. crackdown, as crypto market gains $84 billion in value https://t.co/MbkpNzGrVt — CNBC (@CNBC) February 16, 2023 America electric vehicle charging network In late 2024, Tesla will open 3,500 new and existing Supercharger stations along highway corridors to non-Tesla customers, as part of a $7.5 billion federal program. The move could help Tesla become a universal "gas station" of the EV era and risk losing its competitive advantage. WATCH: Tesla's U.S. charging network will be available to other electric vehicle brands for the first time as part of a $7.5 billion federal program to expand the use of EVs to cut carbon emissions, according to the Biden administration https://t.co/npz0Jh7wmR pic.twitter.com/l6QWJ84DYi — Reuters Business (@ReutersBiz) February 16, 2023
The RBA’s aggressive rate tightening cycle will be continued

Markets Are Still Pricing In A Few More 25-Basis Point Hikes From The RBA

Craig Erlam Craig Erlam 16.02.2023 10:28
Equity markets are poised to open in the green once more on Thursday, continuing what has been a rather strange week of trade so far. We’ve seemingly gone from euphoria at the start of the year on the back of some really encouraging economic data to turning a blind eye to it when it suits. It’s all really quite odd, especially when other corners of the market are behaving in a more orthodox manner, which begs the question, what do equity (and crypto) traders know that the rest of us do not? In the last two weeks, we’ve had a red-hot jobs report, a more modest decline in inflation data, and a really strong retail sales release. As you would expect, that’s triggered a retreat in gold and an adjustment in bonds to account for rates likely rising further and maybe no longer falling later this year. That seems perfectly reasonable. While I am of the view that the pendulum has now probably swung too far the other way on rate expectations this year, I’m not quite as willing to ignore these releases as many clearly are. It could come back to bite them if we don’t see a swift cooling next month. Cause for concern for the RBA The Australian dollar has recovered earlier losses that came on the back of weaker employment figures. For a second straight month, the unemployment rate ticked higher and employment fell, alongside a slight downward revision to December on the latter. While this wouldn’t typically be considered good news, investors have been forced to accept the possibility of higher interest rates recently as inflation has stayed stubbornly high. A slightly looser labour market will alleviate some of those fears of inflation becoming entrenched, although more evidence will be required to appease RBA policymakers after the last couple of inflation prints. Markets are still pricing in a few more 25-basis point hikes over the coming months before cuts begin either late this year or early next. A further deterioration in the labour market could see those expectations pared back further. Oil preparing to break higher? Oil prices are very choppy at the moment, with traders having a lot to take in, be that a 500,000 barrel decline in Russian output in March, a strong Chinese economic recovery, and an uncertain global outlook amid ongoing monetary tightening, among other things. It would appear crude has settled into a range, although it continues to trade at the upper end of that recently which may indicate a breakout attempt is developing. A move above $89 could be a very bullish development and suggest a tighter market is being more heavily priced in, aligning with comments from OPEC on Tuesday. First big test Gold traders don’t share the enthusiasm in equity markets and the yellow metal has continued to trend lower in the aftermath of recent data releases. It ran into support around $1,830 on Wednesday, around the upper end of the first barrier to the downside. This sits around the 38.2% retracement of the move from the November lows to February highs and coincides with support and resistance in December and January. The bigger test arguably lies a little lower around $1,780-$1,800, should it get that far. A bright future for bitcoin? It’s been a fantastic 24 hours for bitcoin and one that could generate further enthusiasm for cryptos, with it hitting a new six-month high and breaking above another big moving average only days after a bullish rebound off the 200-day SMA. While regulatory crackdowns continue to drive some unease, there’s clearly a growing sense of relief that the worst is behind it for the industry and 2023 could be a much better year. The next big test falls around $24,500-$25,500, a break of which could convince any remaining doubters that the future is bright. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

In The Next Few Days Ethereum Has The Potential To Appreciate Up

InstaForex Analysis InstaForex Analysis 17.02.2023 08:14
Currently on the Ethereum Cryptocurrency weekly chart there are several things that we should pay attention to, such as: 1. Sidewinder (SI) indicator in green colour which means trending and volatile once. 2. Chopzone (CZ) indicator in cyan blue which means Bullish market condition. 3, Zero Line (ZL) is green which indicates market conditions are also being bull. 4. There is a Hook on CCI (20) histogram. 5. Histogram CCI has turned green, it means that the bull is ripe. Based on the five things above, it can be concluded that in the next few days Ethereum has the potential to appreciate up to the level of 247.42 as the first target and level 430.11 as the second target, but if on its way to the targets the levels that have been described suddenly Ethereum has been corrected downwards to break below the 136.54 level, so all the bull scenarios described above will become invalid and cancel automatically   Relevance up to 06:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/119681
A Hard Fork Can Raise The Ethereum Rate

The Ethereum Market Is Now In A Pull-Back Mode

Sebastian Seliga Sebastian Seliga 17.02.2023 09:36
Crypto Industry News: The European Union is working on groundbreaking legislation to protect the privacy of citizens' data. Last week, the Committee on Industry, Research and Energy included zero-knowledge proof in an amendment to the Digital Identity (eID) project. Does the EU want to protect the privacy of citizens' data? On 9 February, the European Committee on Industry, Research and Energy presented amendments to the regulatory framework in the context of digital identity. Importantly, the amendment to the regulations includes a zero-knowledge proof standard. In terms of formalities - it is a cryptographic procedure in which one party can prove to the other that it is in possession of certain data without disclosing it. The committee voted to update the rules. In total, 55 votes were cast in favor and only 8 against. Subsequently, the relevant authorities will discuss the project during trilogue negotiations. Details of the project have not been made public. Despite this, the press release assured that EU citizens will be given full control over their data. In theory, they will therefore be free to decide what information can be shared and with whom. As we read in the published memo: "The new eID would enable citizens to identify and authenticate online (via a European digital identity wallet) without having to resort to commercial providers as is the case today - a practice that raises trust, security and privacy concerns." In mid-December 2022, a special research report was published on this topic. It explains in detail how zero-knowledge proof can be combined with the European electronic identity system eIDAS. Read next: USD/JPY Is Trading Close To 134.00, EUR/USD Is Remaining Above $1.07| FXMAG.COM Technical Market Outlook: The Ethereum market reversed from the monthly highs and is now in a pull-back mode. The local high was made at $1,721. The intraday technical support is seen at $1,617 (100 MA) and $1,579 (50 MA). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,569 WR2 - $1,541 WR1 - $1,532 Weekly Pivot - $1,513 WS1 - $1,503 WS2 - $1,484 WS3 - $1,456 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313205
Rates Spark: Escalating into a Rout as Bond Bear Steepening Accelerates

A Mix Of Economic Data Caused Confusion In The Markets

Swissquote Bank Swissquote Bank 17.02.2023 10:18
The equity marathon that kept going on for questionable reasons since Tuesday ended in tears yesterday, with the arrival of a new set of economic data that crushed the optimistic rhetoric of soft landing.  The latest data Released yesterday, the latest data showed that US producer price inflation rose more than expected on a monthly basis, both for headline and core data, and the core PPI eased less than expected – similar to what we saw in the CPI data, BUT the Philli Fed manufacturing index was a disaster with an unexpected drop from -8.9 to -24.3 – the expectation was a -7.4 print. Fed So that crushed the idea that the economy is strong, without however fueling the Federal Reserve (Fed) cut expectations, as the slowdown in inflation needs to be addressed for some more time. And of course, comments from two Fed members were the last nails in the coffin yesterday. Loretta Mester said that she would go for a 50bp hike if she had the right to vote in the latest FOMC meeting. And James Bullard said that he would back a 50bp hike in March, if he could vote this year. The US 2-year yield consolidates a touch below 4.70%, while the 10-year yield hit 3.90% for the first time this year. US Stocks The S&P500 gave back nearly 1.40% yesterday, while the more rate-sensitive Nasdaq fell nearly 2%. European stock US futures hint at further selloff before the weekly closing bell, as in the absence of important data, investors will have to digest the week’s mixed data. And the bad news is, the European stock traders will also have to think whether a further rally in European stocks makes sense, when the EURUSD is trending lower. Watch the full episode to find out more! 0:00 Intro 0:44 Equity investors are victim of mixed economic data 2:33 Rate expectations and yields update 4:35 Equity update 5:16 FX update 6:23 Gold down, Bitcoin up 8:40 There is no such thing as ‘no landing’ Ipek Ozkardeskaya  Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #mixed #economic #data #Fed #rate #expectations #USD #EUR #JPY #XAU #Crude #Oil #bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
More declines of Bitcoin to US dollar should force the altcoins to drop as well

Wyoming Prohibits Forced Disclosure Of Private Cryptographic Keys By US State Courts, JP Morgan Projections Of FX Market

Kamila Szypuła Kamila Szypuła 17.02.2023 12:42
The cryptocurrency market still requires special regulations, new laws are still being introduced to this market. Wyoming remains the most popular state in the US for this market. JP Morgan is looking at the situation on the forex market. In this article: Wyoming is the most cryptocurrency-friendly states in the US Climate prediction model for wind and solar power The 2023 dollar projections by JP Morgan The Russo-Ukrainian war Wyoming is the most cryptocurrency-friendly states in the US Wyoming passed a bill Wednesday that effectively bans forced disclosure of private cryptographic keys by U.S. state courts. The private key is used to verify cryptographic transactions and prove ownership of a blockchain asset or address. The right includes any private keys associated with digital assets, someone's digital identity, or any other interests or rights that a private key provides. If approved by Wyoming Governor Mark Gordon, the bill will go into effect on July 1, 2023. Wyoming has long been touted as one of the most cryptocurrency-friendly states in the US It was the first U.S. state to declare a decentralized autonomous organization (DAO) as a limited liability company (LLC) in July 2021, having previously considered state-issuing a stablecoin in February 2022, but has not gone very far since then. #cryptonews: Wyoming lawmakers pass a bill prohibiting forced disclosure of #Bitcoin private keys 🇺🇸 — CoinMarketCap (@CoinMarketCap) February 17, 2023 Climate prediction model for wind and solar power Economies around the world are moving towards renewable energy sources. China as the second largest economy in the world is introducing its own models that aim to accelerate and improve the green transformation. China has launched a national climate forecasting model for wind and solar resources to enable provincial governments to forecast energy demand and supply. Looking globally at renewables, unless new and stronger policies are implemented in 2023, global renewable power generation is expected to remain steady compared to 2022. While photovoltaics will break another record in 2023. China launches climate prediction model for wind and solar power https://t.co/DJKqCEH9bt pic.twitter.com/uR4bKzONIy — Reuters Business (@ReutersBiz) February 17, 2023 Read next: Microsoft: Bing With Artificial Intelligence And The First Mistakes And Confusing Answers| FXMAG.COM The 2023 dollar projections by JP Morgan 2022 was a historic year. The US dollar strengthened against almost every other major currency to levels not seen in decades as the Federal Reserve (Fed) aggressively raised interest rates to combat inflation. The US dollar gained over 12% in 2022, hitting a two-decade high in September 2022. The 2023 dollar projections for various currency pairs are more related to country-specific factors that JP Morgan is looking at. The situation of the euro, pound and yen currencies will largely depend on developments in the economy. Currency markets have been volatile. Will we see the return of a strong U.S. dollar? And what’s the outlook for other major currencies? Explore J.P. Morgan Research insights: https://t.co/5Bc5HAn7ix pic.twitter.com/bE292j9fBr — J.P. Morgan (@jpmorgan) February 16, 2023 The Russo-Ukrainian war The situation in Ukraine is getting worse. The Ukrainians, despite almost a year of defense, are still holding on, but Russia is not giving up. Several regions of Ukraine faced a barrage of missile attacks overnight, one of which hit the country's largest refinery. Meanwhile, Russia is increasing the number of reservists it is sending to the front lines as part of its anticipated spring offensive, and is already stepping up ground attacks in eastern and southern Ukraine. In addition, the world's government and military leaders gather in Munich, Germany, for the annual Munich Conference on International Security Policy. The theme of this year's summit is the Russo-Ukrainian war and it takes place just before the anniversary of Russia's full-scale invasion of its neighbour. World leaders convene in Munich; Zelenskyy rules out conceding territory for peace https://t.co/VTIFW9v3Lt — CNBC (@CNBC) February 17, 2023
The G20 And IMF Are Already Preparing Their Crypto Regulation

All Cryptocurrencies From The Top Ten Showed Strong Gains

InstaForex Analysis InstaForex Analysis 17.02.2023 14:01
On Friday, the flagship cryptocurrency started the trading day with an increase. At the time of writing, the price of BTC is trading at $23,749. In the past 24 hours, the value of the asset jumped by 8.37%. According to CoinMarketCap, over the past 24 hours, Bitcoin was trading between the low of $23,460 and the high of $25,134. On Thursday, the asset tested $25,200 for the first time since mid-June 2022. The key reason for bullish sentiment in the cryptocurrency market was the permanently declining volatility of securities and bonds, oil prices, as well as the weakening US dollar. Meanwhile, crypto investors continue to analyze the data published on Tuesday on the US Consumer Price Index (CPI). Thus, according to the US Department of Labor, the index rose by 6.4% from last month compared to January 2022 level. Experts on average predicted the January figure to fall to 6.2% from December's 6.5%. Despite the fact that the final result was worse than analysts' expectations, the US stock market began to increase followed by the crypto market. Yesterday, an important support factor for the cryptocurrency market was also the strong results of the last trading session in the US stock market. Thus, on Wednesday, The Dow Jones Industrial Average index rose by 0.11%, the S&P 500 index increased by 0.28%, and the NASDAQ Composite gained 0.92%. Since the beginning of 2022, analysts have emphasized the high level of correlation between the US stock market and digital assets against the background of the tense expectations of both the consequences of the geopolitical conflict in eastern Europe and the further steps of the US Federal Reserve. Earlier, the experts of the investment company Arcane Research have already stated that the correlation between BTC and technology securities has reached the highest level since July 2020. In addition, economists of TradingView said that the relationship of the cryptocurrency market with the US stock market in the fourth quarter of 2022 reached 70%. Read next: EUR/USD And AUD/USD Are In Downward Trend, USD/JPY Hit 135.00, GBP/USD Is Below $1.20| FXMAG.COM Altcoin market Ethereum, Bitcoin's main competitor, also started Friday with growth. At the time of writing, the asset is trading at $1,665. As for the cryptocurrencies of the top 10 by market cap, in the past 24 hours, Polygon showed the best performance, gaining 4.41%. Meanwhile, Dogecoin was the top loser and lost 4.07%. At the end of last week, all cryptocurrencies from the top ten, with the exception of some stablecoins, showed strong gains. Polygon added 13.35% and topped the rank. According to CoinGecko, the world's largest aggregator of digital asset data, over the past 24 hours, among the top 100 most capitalized digital assets, first place in the rise list went to Filecoin token, which grew by 16.18%, while Frax Share lost 10.31% and hit the bottom of the rankings. At the end of last week, Frax Share, dropping by 15.03%, was also the worst-performing digital asset in the top 100 strongest digital assets, while Astar increased by 48.61%, demonstrating the strongest growth. According to CoinGecko, as of Friday morning, the total market capitalization of cryptocurrencies was able to consolidate above the important key $1 trillion level and stands at $1.039 trillion. Despite this, it has fallen by more than three times since November 2021, when the figure exceeded $3 trillion. Relevance up to 10:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335449
The Fear of Strong Jobs: How US Labor Market Resilience Sparks Global Financial Panic

Stock market summary of the week 13-17.02.2023

Conotoxia Comments Conotoxia Comments 18.02.2023 09:29
A surprise in US inflation data, a strengthening US dollar, increased economic activity among consumers and a sharp rally in cryptocurrencies despite their legal woes - these are just some of the events of the past week. What else could we have found out? Macroeconomic data The week started with Japan's GDP data for Q4 2022. It reported growth of 0.2% from the previous quarter, which was lower than economists' forecasts of 0.5% growth. Tuesday saw the release of indicators on the UK labour market situation, including the Average Earnings Index and Claimant Count Change for January 2023. The Earnings Index fell by 0.3 percentage points from the last reading, coming in at 5.9% (6.2% was expected), while the Claimant Count fell by 12.9,000 from the previous month (17,900 was expected). The UK100 Index (UK100) hit new historic peaks this week, reaching 8000 for the time being. Source: Conotoxia MT5, UK100, Daily On the same day, we could learn about the CPI and core inflation readings for January 2023 for the US economy. What seems to have surprised analysts was the higher-than-expected CPI reading of 6.4% (6.2% was expected), while core inflation rose by an expected 0.4% month-on-month. This might imply that the level of disinflation is not going in line with previous assumptions, which could force the Fed to increase interest rates further. Shortly after the release of the data, the S&P 500 Index (US500) fell by 1%, eventually ending the week on a return to the levels seen at the end of last week. Source: Conotoxia MT5, US500, Daily On Wednesday, we learned of the UK's CPI inflation reading. Price dynamics in this economy came in below expectations at 10.1% (10.3% was expected). This is the fourth consecutive month of disinflation in the UK. Indicators of US economic activity, such as the volume of retail sales and core retail sales (excluding car sales), came as a positive surprise on the day. Both indicators beat the most optimistic forecasts, coming in at 2.3% m/m. (0.8% m/m was expected) and 3% m/m. (1.8% m/m. was expected). It seems that, despite the economic slowdown and high inflation, consumers have not stopped their desire to make massive purchases. Thursday brought another batch of data from the United States. First, we learned about the number of new applications for unemployment benefits - 194 000 (200 000 was expected), which may indicate that the US labour market remains in excellent shape. Next, we learned about the sentiment among industrial companies in Philadelphia. The Philadelphia Fed Manufacturing Index turned out to be extremely negative, coming in at minus 24.3 points (minus 7.4 points were expected). This is the worst reading since the pandemic, which may illustrate how much of a slowdown in US manufacturing is expected. Finally, there was another dose of producer PPI inflation, whose reading also came in beating analysts' expectations, at 0.7% m/m in January. (0.4% m/m was expected). This appears to have triggered a correction on expectations for future interest rates, with the spread between 2-year and 10-year bond yields at minus 0.76 percentage points, unseen since 1981. It should be recalled that historically negative values have preceded slowdowns or crises. Source: Fred The stock market The accumulation of negative and positive macroeconomic data may have left the market in dismay. Most sectors ended the week at levels seen seven days ago. The waste sector grew the most, rising 1.5% over the week. We could see this in the performance of the Utilities Select Sector SPDR Fund (XLU). In second place was the energy sector, up 1.3%. Source: Conotoxia MT5, XLU, Daily Key company reports for Q4 2022 included Tuesday's report from beverage maker Coca-Cola (CocaColaHSB). Results came in line with expectations, with earnings per share EPS of 0.45. On the same day, we saw a report from short-term rental platform Airbnb (Airbnb), which reported EPS greater than expectations of 0.48 (0.25 was expected). Source: Conotoxia MT5, AirBNB, Daily On Wednesday, US-based multinational technology company that specialises in computer networking and telecommunications Cisco (Cisco) released better-than-expected financial results. Last year's Q4 EPS was 0.88 (0.85 was expected). The company's shares rose more than 9% during the week. And it was one of the strongest-growing companies in the S&P 500 index. Source: Heat map for the S&P 500 index, https://finviz.com/map.ashx?t=sec&st=w1 Currency and cryptocurrency market In the foreign exchange market, we could see a significant strengthening of the US dollar this week. This was particularly noticeable from the quotations of the USD/JPY pair, which rose by more than 2.7%. Source: Conotoxia MT5, USDJPY, Daily Another strengthening of the US dollar was seen on the EUR/USD pair, which has fallen by 0.4% since the start of the week. This is the third consecutive week of dollar strengthening and declines on this pair. Investors may have been amazed by cryptocurrency listings. Despite high inflation and thus the risk of further interest rate rises, the closure of stacking functionality by the Kraken exchange in the US and the ban on the issuance of new stablecoin BUSD, the value of bitcoin rose by more than 9%. In contrast, the value of the overall stablecoin market may have stalled. Source: Conotoxia MT5, BTCUSD, Daily Grzegorz Dróżdż, Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Summary Of The Situation Of Equity Markets And Bitcoin

Summary Of The Situation Of Equity Markets And Bitcoin

Craig Erlam Craig Erlam 19.02.2023 11:05
Equity markets are ending the week in the red after finally falling victim to the persistent disappointment of US economic data on Thursday. It’s taken a lot but it would appear investors’ eternal optimism is being shaken, with the latest PPI figures finally driving the message home that bringing the economy in for a soft landing will be extraordinarily challenging and there’ll likely be plenty of turbulence along the way. In reality, the message should have sunk in much sooner but investors were seemingly so convinced that these were just blips in the data that they failed to see how quickly they were stacking up. Don’t get me wrong, I’m still of the view that the data will improve again but I’m not so willing to turn a blind eye to what it’s telling us now. And most importantly, neither is the Fed which has been less willing to get carried away with what came before. Suddenly the topic of conversation has changed from one more 25 basis point hike and then two cuts later in the year, a few weeks back, to perhaps reverting back to 50 in March and hiking by another 75 in total. It was always going to be a rollercoaster ride this quarter and maybe next and the first seven weeks of the year have been just that. Taking off? Bitcoin is in retreat at the end of the week, not immune it seems to the sharp shift in risk appetite throughout the markets. That comes after an immense rally earlier this week that saw it hit an eight-month high on Thursday. While the risk element will no doubt be a key factor, that the correction is occurring in the $24,500-$25,500 zone suggests to me that there’s a coincidental element to it as well, as we could have expected to see some profit-taking around these levels regardless. The risk mood may have just helped that along. Regardless, bitcoin bulls will no doubt be excited by recent developments in the price and may feel more optimistic than they have since 2021. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
RBA Governor Announces Major Changes at RBA Board as US Inflation Expected to Decline

Meta Introduces Paid Verification Subscription Service

Kamila Szypuła Kamila Szypuła 19.02.2023 19:46
Updates and changes on social platforms are nothing new, but when a paid feature comes along, it raises a lot of excitement. And so it may be this time when it comes to Meta. In this article: Chinese banking system A new paid verification subscription service FTX.US supported the policy Global economy Chinese banking system China's Banking and Insurance Regulatory Commission and the People's Bank of China jointly released revised draft legislation on Saturday to help banks. The draft regulations, which bring the banking sector closer to global standards, will divide lenders into three groups depending on the scale of business and the level of risk. The rules will apply to banks in a diverse regulatory regime. In addition, the rules will include more detailed factors to measure banks' exposure to mortgage risk, such as property types, repayment sources and loan-to-collateral ratios. Both regulators stated that the implementation of the new rules will leave the capital adequacy ratios in the banking sector generally unchanged. China refines capital and risk management of commercial banks https://t.co/nqftiLkYb9 pic.twitter.com/xO57Z9V6Wc — Reuters Business (@ReutersBiz) February 19, 2023 A new paid verification subscription service Meta introduces a new paid verification subscription service called Meta Verified, CEO Mark Zuckerberg has announced. For $11.99/month on the web and $14.99/month on iOS, Instagram and Facebook Meta users will be able to submit their government ID and receive a blue verification badge. The service will roll out in Australia and New Zealand this week. In the past, Meta has vetted high-profile users such as politicians, executives, members of the press, and organizations to signal legitimacy. The company's new subscription service is similar to Twitter's revamped service called Twitter Blue, which also provides users with a verification badge if they pay a monthly fee. Meta is rolling out a new paid verification subscription service for Instagram and Facebook users https://t.co/Omc8fFNzO4 — CNBC (@CNBC) February 19, 2023 FTX.US supported the policy According to data from OpenSecrets.org, among the top 10 organizations supporting political campaigns in the US in 2022, FTX.US ranked third. Of the three former FTX directors, 67% of the contributions went to Democratic parties, candidates and liberal groups. The year before FTX collapsed, former FTX CEO Sam Bankman-Fried donated at least $46.4 million to political groups. Despite FTX's announcement in December 2022 of withdrawing donations, the growing influence of cryptocurrency executives on U.S. politics is evident as digital assets become more mainstream and politically significant. 1/ https://t.co/RgAGJ58UgP was ranked 3rd among the top 10 organizational contributors to political campaigns in the US in 2022 🇺🇸Read the full study: https://t.co/APy0C8yiAw pic.twitter.com/n8ebjvlwx4 — CoinGecko (@coingecko) February 19, 2023 Global economy The global economy is expected to slow down this year, only to pick up again next year. Growth will remain weak by historical standards as the fight against inflation and Russia's war in Ukraine take a toll on activity. Growth proved surprisingly resilient in the third quarter of last year, with strong labor markets, solid household consumption and business investment, and a better-than-expected adaptation to Europe's energy crisis. Elsewhere, China's sudden reopening paves the way for a rapid recovery in activity. The outlook for 2023 has improved, but the road back to full recovery, with sustainable growth, stable prices and progress for all, is just beginning. Want to know what's next for the global economy? Watch our Charts in Motion or check out our blog post. https://t.co/0f3Ps3RYzr pic.twitter.com/h5NJyepNZx — IMF (@IMFNews) February 19, 2023
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Two Malicious Files Have Been Actively Scouring The Internet And Stealing Cryptocurrencies From Unwary Investors

Sebastian Seliga Sebastian Seliga 20.02.2023 11:22
Crypto Industry News: Malwarebytes has drawn attention to two new computer malware distributed by unknown sources that are actively targeting cryptocurrency investors in the desktop environment. As of December 2022, the two malicious files in question - the MortalKombat ransomware and the Laplas Clipper malware - have been actively scouring the Internet and stealing cryptocurrencies from unwary investors, as revealed by threat research team Cisco Talos. Campaign casualties are mostly in the US, with smaller percentages of victims in the UK, Turkey and the Philippines. The malware works together to hijack the information stored in the user's clipboard, which is usually a string of letters and numbers copied by the user. The infection then detects the wallet addresses copied to the clipboard and replaces them with another address. The attack takes advantage of users' insufficient caution about the sender's wallet address that could send cryptocurrencies to the attacker. Without a clear target, the attack includes individuals as well as small and large organizations. Once infected with MortalKombat ransomware, it encrypts user files and displays a ransom note with payment instructions. As explained by Malwarebytes, the "tag-team campaign" begins with a cryptocurrency-themed email containing a malicious attachment. The attachment launches a BAT file that helps download and run the ransomware when opened. On the other hand, as ransomware victims continue to reject extortion requests, attackers' revenue from ransomware fell 40% in 2022 to $456.8 million. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and reversed sharply lower. The pull-back did not last for long and the market is now consolidating the recent gains around the level of $24,500. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The strong and positive momentum on daily time frame chart supports the short-term bullish outlook for BTC, however, the market is coming off the extremely overbought conditions on H4 time frame chart. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Read next: Twitter And Elon Musk Faced A Growing List Of Claims| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2023-02-21 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313329
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

The Ethereum market is currently approaching the last week highs again

Sebastian Seliga Sebastian Seliga 20.02.2023 11:28
Crypto Industry News: The Federal Reserve Bank of San Francisco is looking for software engineers to work on developing and implementing central bank digital currency (CBDC) systems. On February 18, the San Francisco Fed published a job offer for a "senior application developer - digital currency." The candidate is expected to assist the Federal Reserve in designing and implementing systems critical to CBDC research. Within 24 hours of the job posting, 45 candidates expressed interest in joining the federal government to build an internal CBDC. The Federal Reserve Bank of San Francisco (informally called the San Francisco Fed) is the federal bank of the Twelfth District of the United States. The 12th District consists of the nine western states - Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah, and Washington - plus the Northern Mariana Islands, American Samoa, and Guam. The San Francisco Fed has branches in Los Angeles, Portland, Salt Lake City and Seattle. It also has a cash processing center in Phoenix. The Federal Reserve Bank of San Francisco opened for business on November 16, 1914 to implement reserve regulations under the Federal Reserve Act. Read next: Twitter And Elon Musk Faced A Growing List Of Claims| FXMAG.COM Technical Market Outlook: The Ethereum market had made a local high at the level of $1,721, pulled-back lower and is currently approaching the last week highs again. The intraday technical support is seen at $1,617 (100 MA) and $1,579 (50 MA). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 10:00 2023-02-21 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313331
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

The Government Of El Salvador Opens A "Bitcoin Embassy" In The United States

Sebastian Seliga Sebastian Seliga 21.02.2023 08:46
Crypto Industry News: The world's largest cryptocurrency, Bitcoin, once again brings countries together as the government of El Salvador opens a "Bitcoin Embassy" in the United States. El Salvador, which became the first country in the world to approve Bitcoin as legal tender in 2021, is expanding its Bitcoin strategy through a new partnership with the Texas government. The intergovernmental cooperation aims to create a Bitcoin Embassy or El Salvador representative office in Texas to work on new projects that will promote BTC adoption. Milena Mayorga, El Salvador's ambassador to the United States, announced the news in a statement on Twitter. "During my meeting with Texas Deputy Secretary of the Government Joe Esparza, we discussed opening a second Bitcoin Embassy and expanding trade and economic exchange projects," Mayorga said. The latest initiative comes months after El Salvador opened its first Bitcoin embassy in the southern Swiss city of Lugano in October 2022. As part of a joint effort, the two pro-crypto jurisdictions have begun work to establish a physical government presence to promote collaboration in educational institutions and research related to Bitcoin. According to former Blockstream chief strategy officer Samson Mow, the Bitcoin embassy phenomenon is another step towards Bitcoin acceptance by nation states and cities. He said such initiatives lead to cooperation between countries to develop new initiatives, such as creating alliances between places that have adopted Bitcoin. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and reversed sharply lower to make a local pull-back. The pull-back did not last for long and the market is now consolidating the recent gains around the level of $24,500. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The strong and positive momentum on daily time frame chart supports the short-term bullish outlook for BTC, however, the market is coming off the extremely overbought conditions on H4 time frame chart. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-02-22 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313471
A Hard Fork Can Raise The Ethereum Rate

The Ethereum Market Is Consolidating The Recent Gains

Sebastian Seliga Sebastian Seliga 21.02.2023 08:50
Crypto Industry News: According to Cameron Winklevoss, an American investor and co-founder of the Gemini cryptocurrency exchange, the next cryptocurrency boom will start in Asia. His comments come amid increased enforcement actions and looming crackdowns from U.S. regulators, including the Securities and Exchange Commission. "My working thesis is that the next bull run will start in the East. It will be a humbling reminder that cryptocurrencies are a global asset class and that the West, and indeed the United States, has always had only two options: embrace them or fall behind," Winklevoss wrote on Twitter. According to Chainalysis, Central & Southern Asia and Oceania (CSAO) was the third largest cryptocurrency market in its 2022 index. Citizens of these areas held $932 billion worth of cryptocurrency between July 2021 and June 2022. CSAO was also home to seven of the top 20 countries in the 2022 index: Vietnam (1), Philippines (2), India (4), Pakistan (6), Thailand (8), Nepal (16) and Indonesia (20). In his Twitter thread, Winklevoss said that governments that don't offer clear rules and candid guidance on cryptocurrencies will be "left behind" and miss "the greatest period of growth since the advent of the commercial internet." Technical Market Outlook: The Ethereum market had made a local high at the level of $1,721 and is consolidating the recent gains close to the last week highs again. The intraday technical support is seen at $1,617 (100 MA) and $1,579 (50 MA). Only a clear and sustained breakout below the level of $1,487 would change the short-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2023-02-22 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313473
Upcoming Corporate Earnings Reports: Ashtead, GameStop, and DocuSign - September 5-7, 2023

PMI report showed businesses are becoming less pessimistic, Bitcoin is trading close to $25,000

Craig Erlam Craig Erlam 21.02.2023 14:09
It hasn’t been the most thrilling start to the week but the good news is that it should improve from here as the US rejoins and the economic calendar fills out. We were basically treading water on Monday which is often the case on a US bank holiday. The fact that the calendar was as thin as it was elsewhere naturally doesn’t help and it may be no bad thing either. We’ve become so accustomed to relentless action in the markets this past year in particular that a day of calm can be a good thing. But don’t expect it to last. This week may not be as all-action as others we’ve experienced this month but there is still plenty for investors to get their teeth stuck into. Today is littered with economic releases throughout, with the PMIs being a key feature of that. At a time of such uncertainty over inflation, interest rates, and the economy, these forward-looking business surveys carry extra weight. And what’s more, they’re expected to show businesses are becoming less pessimistic which would be a small win but a win nonetheless. That said, the Japanese manufacturing PMI was expected to do just that and instead dipped much further into contraction territory. The decline was driven by lower output, new orders, and new export orders; once again indicating waning global demand and trade. The services survey was much better but that is being driven by improved tourism as restrictions were removed, and government support. All in all, there are more concerning signs than promising ones. Unnerved The RBA minutes from earlier this month highlighted how unnerved policymakers are by recent inflation developments, with a pause in tightening not even discussed despite that at one stage appearing to be where the central bank was heading. In fact, the debate centered around whether there was a need to accelerate the hiking cycle which may unsettle investors that have become more relaxed on the belief that the end is near. The message, often not heard, from policymakers around the world has consistently been that there’s more to do and that rates may need to stay higher for longer but investors have not always been receptive to that. That seems to be changing and a 50-basis point hike would have very much driven that home but the RBA instead opted for 25 this time, backed by the belief that monthly meetings allow for a more gradual exit. ​ Can bitcoin overcome major resistance? There is no shortage of optimism in bitcoin this year and it’s continuing to push higher again today. The cryptocurrency is trading close to $25,000, a huge test considering the scale of recovery we’ve seen in the last seven weeks. The region around $24,500-$25,500 was big on the way down so it will be a big psychological test this time around, too. But with bitcoin up around 50% already this year, you have to wonder how much further it can go. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Russia will suspend participation with the new START treaty and that they would test nuclear weapons if the US does it first

Russia will suspend participation with the new START treaty and that they would test nuclear weapons if the US does it first

Ed Moya Ed Moya 21.02.2023 14:25
US stocks are declining after retail earnings suggest margin worries are here and it will only get worse as the Fed is likely to deliver more tightening into early summer. Treasury yields are surging here as a tight labor market will force the Fed to do more tightening.  Retailer earnings are suggesting it is going to be a tough year ahead and that should keep the pressure on stocks.  Geopolitics Russia’s Vladimir Putin’s State of the Union speech suspended participation in a key nuclear arms pact with the US.  Putin said, Russia will suspend participation with the new START treaty and that they would test nuclear weapons if the US does it first. Putin’s speech comes three days before the one-year mark of the Russian invasion of Ukraine. He added that Russia will push farther if longer-range arms are supplied. Ukrainian officials have voiced their concerns that they expect the Russians to increase their offensive.  China China is also pushing back against calls that say Taiwan is next.  China Foreign Minister Qin Gang said, “We urge certain countries to immediately stop fueling the fire, stop shifting blame to China and stop touting Ukraine today, Taiwan tomorrow.” China’s economic outlook if fragile right now and they are trying to avoid any major obstacles as their reopening from COVID continues. Home Depot Home Depot shares tumbled after a tight labor market is making them invest an additional ~$1 billion in annualized compensation for frontline, hourly associates. Wall Street initially could only focus on the added expenses and not the mixed earnings and dividend boost.  While most companies are announcing cost-saving measures, Home Depot is in position that will require them to spend more.  The EPS beat of 3 cents and slight revenue miss of $35.83 billion was accompanied by comparable sales of -0.3%, not as bad as the consensus estimate of -0.87%.  The world’s largest home improvement retailer is going to have a margin problem over the couple of quarters and that could get uglier if the housing market does not bottom out soon.  Walmart Walmart shares tumbled despite a top and bottom line beat as their EPS guidance fell short of the analyst estimates.  Walmart’s earnings slides noted that “general merchandise sales reflected softness in discretionary categories including toys, electronics, home, and apparel.” Walmart’s poor outlook after a strong holiday season is having many investors abandon ship here as rough waters are clearly ahead.  Walmart had the largest sales volume in its history in December. Oil Crude prices are struggling as global growth concerns return after soft European manufacturing activity data is accompanied with a surge in global bond yields. Central banks globally are about to take policy into even more restrictive levels and that is countering China’s reopening momentum. WTI crude is finding a home between the mid-$70s and the $80 a barrel level.      Read next: The Pound Gained After The Publication Of PMI Reports, Euro Is Below 1.07, USD/JPY Pair Is Above 134.50| FXMAG.COM Gold/FX Gold prices are weakening as investors await the Fed Minutes that could confirm the bank has more work to do. The dollar is getting a bid here as more traders start to price in 75 basis points in more tightening by the Fed. If the bond market selloff gets uglier, gold might soften more, but it probably won’t drop as much as equities.  Rising geopolitical risks will likely drive some flows towards bullion and Wall Street is getting close to pricing in peak Fed tightening.  Bitcoin Bitcoin traders appear to be ignoring a laundry list of bearish macro drivers that include; a return of the stronger dollar as the bond market rally returns, downward pressure on stocks as investors price in more Fed rate hikes, and on worries that stablecoin regulation could put further pressure on cryptos.  It appears that Bitcoin’s correlation with most risky assets is changing.  The crypto winter that saw prices collapse from $68,911 to $15,485 appears to have priced in enough of the bad news.  Bitcoin is still respecting the key $25,500 level, but a break could open the door for momentum traders to target a bigger move higher. Initial resistance would come from the $28,000 level, but most traders may have their eyes for the psychological $30,000 level.  This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

The Bitcoin Had Made A New Local High At $25,257

Sebastian Seliga Sebastian Seliga 22.02.2023 08:46
Crypto Industry News: It has been several days since Kraken, one of the largest cryptocurrency exchanges in the world, stopped providing the staking service to US clients and was forced by the SEC to pay a USD 30 million penalty. Former Kraken CEO Jesse Powell disagrees with the decision of the US financial market regulator. In his opinion, the authorities allow fraudsters to operate and hinder the functioning of honest entrepreneurs. Although it sounds like a typical complaint of a businessman punished by officials, there is something to it. After all, the FTX exchange - although built on rotten foundations - operated on the market for a few years. Politicians willingly accepted donations from Sam Bankman-Fried, and the company's CEO himself met with important people from the White House. Powell sees all of this as a cynical plan to destroy the capital that has been invested in the cryptocurrency ecosystem. This will stop blockchain adoption and at the same time enable attacks on honest entities. This chilling theory, however, does not come out of thin air. It is the result of previous events. Powell and Caitlin Long, CEO of Custodia Bank, warned regulators about some suspicious transactions in the cryptocurrency industry. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and after a short period of consolidation reversed sharply lower to make a local pull-back. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. However, the bears had manage to break below the short-term trend line support and are heading lower towards the 38% Fibonacci retracement of the last wave up located at $23,800. In a case of a breakout below this retracement level, the next target for the corrective cycle are $23,346 (50% retracement) and $22,868 (61% retracement). The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for BTC. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 08:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313599
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

Hong Kong is aiming to become the world's cryptocurrency hub

Sebastian Seliga Sebastian Seliga 22.02.2023 08:52
Crypto Industry News: Hong Kong, a special administrative region of China, is aiming to become the world's cryptocurrency hub. Despite the negative and even hostile attitude of the authorities of the People's Bank of China towards digital assets, the city-state constantly focuses on the adoption of blockchain and cryptocurrencies. Moreover, the regulatory framework that the region's authorities are working on could be crucial for the sector. Can Hong Kong's actions fuel another cryptocurrency boom? Why can the adoption of digital assets by Hong Kong, and not some other jurisdiction, be the catalyst for the next bull market in the cryptocurrency market? Yesterday, the HongKong Securities and Futures Commission announced that under the new legislation, cryptocurrency exchanges will have to apply for Virtual Asset Service Providers (VASP) licenses in order to legally operate in the Chinese Special Economic Zone. Moreover, according to the commission statement, both institutional and retail investors will be able to trade digital assets such as bitcoin (BTC) and ether (ETH). "As long as the basic principle of not threatening China's financial stability is violated, Hong Kong can pursue its own goal of 'one country, two systems'," said Nick Chan, a member of the National People's Congress and a cryptocurrency lawyer. What does the above news mean? To a large extent, the re-opening of Hong Kong to the digital asset sector creates huge potential for the influx of new funds. It is worth noting that Hong Kong is the fourth largest financial center in the world. Only New York, London and Singapore are ahead of it. It is also very important that capital from China may start to flow into this economic zone. According to estimates, mainland Chinese capital is about USD 500 billion. The regulations prepared by Hong Kong do not mention anything about opening up fully to the decentralized finance (DeFi) sector or self-storage of digital assets. Nevertheless, the aforementioned injection of foreign capital to this region may have a significant impact on the cryptocurrency market. It is worth remembering that the times when China was responsible for the majority of the volume of trading in digital coins are not that far away. Technical Market Outlook: The Ethereum market had made a local high at the level of $1,721 and then reversed lower towards 38% Fibonacci retracement level seen at $1,636. The intraday technical support is seen at $1,630 (100 MA). The weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 08:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313601
More declines of Bitcoin to US dollar should force the altcoins to drop as well

A Large Outflow Of Bitcoin Eliminates The Possibility Of A Quick Sale And Reduces The Pressure On The Price

InstaForex Analysis InstaForex Analysis 22.02.2023 14:19
The market was looking forward to a new trading week after a strong bullish momentum on Friday. As a result, Bitcoin reached the $24.5k level and gradually approached the final consolidation above $25k. However, following the results of February 21, the $25k level remains untouched, and BTC is declining more often. Bitcoin fails to gain a foothold above $25k rapidly, and given the increasing tension in the stock market, the asset risks not having time to consolidate above the key resistance level. At the same time, it is too early to talk about the end of the BTC upward trend, and the asset has every chance to move closer to the $26k–$27k area. Fundamental background The information campaign from America's largest banks regarding the stock market continues. According to Morgan Stanley analysts, the S&P 500 stock index may lose up to 26% of capitalization in the coming months and bottom around $3,000. BBG, who are also skeptical about the short-term outlook for SPX, are warning of a likely Bitcoin pullback. Experts explain the decline in the price of cryptocurrency by an increased correlation with stock indices and a likely tightening of the Fed's monetary policy. Meanwhile, the SPX index formed a large red candle and reached the lower boundary of the $4,000 support zone. The technical metrics of the asset on the daily chart indicate a continuation of the downward movement of the stock instrument. At the same time, Bitcoin remained stable against the backdrop of the SPX index but eventually confirmed the correlation with the index and also moved to a local decline. The results on February 21 prove that the relationship between BTC and SPX is still strong, and with a high degree of probability, the cryptocurrency will follow the stock index. BTC/USD Analysis Meanwhile, CryptoQuant analysts are recording a large outflow of BTC coins from cryptocurrency exchanges. This confirms the fact that the period of accumulation continues in one form or another. Also, a large outflow of BTC eliminates the possibility of a quick sale and reduces the pressure on the price. Glassnode analysts also note that more than 50% of all BTC in circulation have not moved for at least two years. This confirms the fundamental value of the cryptocurrency and the long-term faith in the asset of most investors. At the same time, it is reported that the number of "whale" addresses with a balance of 1,000 BTC has reached the 2019 low. This is a negative signal, as large investors are the main catalyst for Bitcoin's bullish rally, as happened in January 2023. It may also indicate a lack of new big players in the crypto market, which is also bad for the industry's capitalization. Over the past six days, Bitcoin has retested the $25k level five times. In addition to the persistence of the bulls, it is worth noting the dynamics of increasing price lows, which may eventually lead to the formation of a wedge and its bullish breakdown. According to the results of February 21, buyers failed to gain a foothold above $25k, and the price, as expected, went to retest the lower border of the fluctuation area. The $23.8k–$24.1k area is a powerful support zone, and until BTC makes its bearish breakdown, the bullish idea remains relevant. Bitcoin technical indicators on the 1D timeframe point to a decline: RSI, stochastic and MACD are moving in a downward direction. The 1H chart shows the first signs of buying activity. The stochastic oscillator tried to form a bullish crossover, which indicates an increase in volumes near $24k. Results Bitcoin showed weakness and followed the SPX index in a downward direction. In addition to dependence on the stock index, the downward movement of the cryptocurrency was influenced by an unsuccessful retest of the $25k resistance for several days in a row. Most likely, a local consolidation and resumption of the assault on the $25k–$25.2k area will happen in the near term. A further decline in SPX may have a negative impact on the cryptocurrency, but as long as the asset holds the $23.8k level, the bullish idea will be relevant.     Relevance up to 09:00 2023-02-23 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/335792
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

A Permissioned Blockchain Would Be More Suitable

Binance Academy Binance Academy 23.02.2023 09:23
TL;DR Permissionless blockchains are open to anyone to use. You can even participate in their consensus mechanisms, given that you meet specific requirements. Bitcoin, Ethereum, and BNB Chain are all examples of permissionless blockchains, which are typically transparent and decentralized. Permissioned blockchains, on the other hand, require invitations to join. They’re typically used in private business settings and tailored for certain use cases. Power is restricted to a small group of validators who make most of the network decisions. Transparency can be limited, but network upgrade time and scalability are often greatly improved. Introduction Have you ever considered the type of blockchain you're using beyond proof-of-work (PoW) versus proof-of-stake (PoS)? Each blockchain can actually be considered either permissioned or permissionless. Understanding these two categories can help you learn more about a blockchain's characteristics and how fluid they are.   Learn more on Binance.com What Are Permissioned and Permissionless Blockchains? There is more than one type of blockchain. One of the most significant distinctions is whether a blockchain is permissioned or permissionless. You're most probably already familiar with the permissionless variety, where anyone can have a hand in using and running it. Network usage and joining the validation process are also open to anyone. Bitcoin, BNB Chain, and Ethereum are all examples of permissionless blockchains. A permissioned blockchain requires participants to be granted permission to participate. These blockchains are typically used in private settings, such as within an organization or business. For example, a company may use the Hyperledger Fabric blockchain framework to create a permissioned blockchain for its supply chain system. Should you want to take part in the network, you’d need an admin to specifically grant you access. Brief History and Background Blockchain technology can be traced back to Satoshi Nakamoto's Bitcoin whitepaper. The technology presented in the whitepaper is a permissionless blockchain where unaligned users generate consensus. This permissionless trend has continued as Bitcoin's model has influenced multiple blockchain generations. The values and ethos of Bitcoin and its descendants are suited to public permissionless blockchains. Blockchain’s characteristics have also proven attractive to private applications. Its immutability, transparency (in some aspects), and security have created a desire for blockchains that offer a more permissioned experience.  To fulfill this desire, blockchain developers have created permissioned frameworks or custom blockchains for third-party use. As previously mentioned, Hyperledger Fabric is one such framework. Quorum, MultiChain, and Ethereum Geth also provide private structures for enterprise needs. Key Characteristics The characteristics below don't always apply to every permissioned or permissionless blockchain. However, in general, you'll find most of them fit the archetypes presented. Pros and Cons Permissionless blockchains: Benefits Decentralization potential. Not every permissionless blockchain is decentralized, but they typically have the potential to be highly decentralized. Anyone can participate in the consensus mechanism or use a permissionless network should they wish and have the resources to do so. Group consensus. Users can actively participate in and decide on network changes. Validators and network users can also “vote with their feet”, and unpopular changes can lead to forked versions of a network. Ease of access. Anyone can create a wallet and join a permissionless network as these networks are easily accessible and have relatively low barriers to entry. Permissionless blockchain: Drawbacks Scalability challenges. Permissionless blockchains must handle large user bases and high traffic volume. Network upgrades to improve scalability must pass group consensus to be implemented effectively. Bad actors. Because anyone can join permissionless blockchains, there is always the risk of bad actors on such networks. Excessive transparency. Most information on permissionless blockchains is free for anyone to view, leading to potential privacy and security concerns. Permissioned blockchains: Benefits Scalability. A permissioned blockchain is typically run by an entity with some degree of control over validators. Upgrades can therefore be implemented fairly easily. Easy customization. A permissioned blockchain can be built for a specific purpose, making it efficient at a particular function. Should needs change, the blockchain can be easily customized. Controlled degree of transparency. A permissioned blockchain operator can determine a suitable level of transparency for the network, depending on its use case. Invitation-only entry. You can control exactly who can and can’t participate in the blockchain. Permissioned blockchains: Drawbacks Centralization. Power is likely controlled by a central entity or small group of validators chosen by the blockchain’s owner. This means that network decisions probably won’t include all stakeholders. Vulnerability to attacks. Permissioned blockchains typically have fewer validators, making their consensus mechanism less resistant to attacks. Censorship risk. Network collusion or updates introduced by the blockchain operator presents the risk of censorship. Should enough actors agree to do so, information on the blockchain could be altered. Should I Use a Permissioned or Permissionless Blockchain? The answer to this question is fairly simple. If you’re looking to create a service open to all, you need a permissionless blockchain. However, having a permissionless blockchain doesn’t mean you must follow the standard set of principles and goals. In fact, your chain could be centralized and permissionless at the same time. You could also include more elements of privacy should you wish. If you’re looking to use a blockchain in a private environment, such as a business or government setting, a permissioned blockchain would be more suitable. Again, your blockchain doesn’t have to follow the usual characteristics associated with permissioned blockchains; it could be completely transparent and open for public view. Closing Thoughts Even though you'll likely only encounter permissionless blockchains as a crypto investor or trader, understanding how they are different from permissioned blockchains is useful. It's easy to have a singular view of distributed ledger technology (DLT) that fits the transparent, public, and decentralized crypto model. However, these parameters can change — in fact, many private enterprises use permissioned blockchains that don't fit the conventional traits of such blockchains. Further Reading What Is Blockchain Technology? The Ultimate Guide Permissionless Blockchain How Does Blockchain Work?
The Greeks Help Options Traders Make More Informed Decisions About Their Positions

The Greeks Help Options Traders Make More Informed Decisions About Their Positions

Binance Academy Binance Academy 23.02.2023 09:27
TL;DR The Greeks — Delta, Gamma, Theta and Vega — are financial calculations that measure an option's sensitivity to specific parameters. Delta (Δ) shows the rate of change between an option's price and a $1 movement in the underlying asset's price. Gamma (Γ) measures the rate of change of an options delta, based on a $1 change in the underlying asset's price. Theta (θ) measures the sensitivity of an option's price relative to the time it has left to mature (or expire). Vega (ν) measures an option's price sensitivity based on a 1% move in implied volatility. Introduction Participating in derivatives trading requires more knowledge than in the spot markets. For options trading, the Greeks are among the most important set of new tools to master. They provide a basic framework for managing risk and help you make more informed trading decisions. After familiarizing yourself with the Greeks, you'll be able to better understand options market analysis and take part in wider discussions on puts, calls, and other options topics. What Are Options Contracts? An options contract is a financial instrument that gives you the right — though not the obligation — to purchase or sell an underlying asset at a predetermined price (the strike price); it also has an expiration date.  Options contracts fall into two main categories: calls and puts. A call option allows its holder to buy the underlying asset at the strike price within a limited timeframe, while a put option enables its holder to sell the underlying asset at the strike price within a limited time frame. An option's current market price is known as its premium, which its seller (known as a writer) receives as income. You may have already noticed some similarities if you're familiar with futures contracts. Options offer both hedging and speculative opportunities, and the parties involved take opposing bearish and bullish positions. You may want to lock in a specific price for an underlying asset to better plan your future financial position. You may also want to buy or sell the underlying asset at an advantageous price based on a predicted price movement. What Are the Different Greeks? In options trading, you'll regularly find discussions on the Greeks. These financial calculations measure an option's sensitivity to specific parameters, such as time and volatility. The Greeks help options traders make more informed decisions about their positions and assess their risk. There are four major Greeks used in options trading: Delta, Gamma, Theta, and Vega.  Delta (Δ) Delta (Δ) shows the rate of change between an option's price and a $1 movement in the underlying asset's price. The calculation represents the option's price sensitivity relative to a price movement in the underlying asset. Delta ranges between 0 and 1 for call options and 0 and -1 for put options. Call premiums rise when an underlying asset's price increases and fall when the asset's price declines. Put premiums, on the other hand, fall when the underlying asset's price rises and rise when the asset's price drops. If your call option has a delta of 0.75, a $1 increase in the underlying asset's price would theoretically increase the option premium by 75 cents. If your put option has a delta of -0.4, a $1 increase in the underlying asset's price would decrease the premium by 40 cents. Gamma (Γ) Gamma (Γ) measures the rate of change of an options delta based on a $1 change in the underlying asset's price. This makes it the first derivative of delta, and the higher an option's gamma, the more volatile its premium price is. Gamma helps you understand the stability of an option's delta and is always positive for calls and puts. Imagine your call option has a delta of 0.6 and a gamma of 0.2. The underlying asset’s price increases by $1, and its call premium by 60 cents. The option's delta then also adjusts upwards by 0.2 to 0.8. Theta (θ) Theta (θ) measures the sensitivity of an option's price relative to the time an option has left to mature (or expire). More specifically, an option's theta shows the premium price change per day as it moves towards expiration.  Theta is negative for long (or purchased) positions and positive for short (or sold) positions. For the holder, an option's value always diminishes over time ceteris paribus (provided all other things are equal); this applies to both call and put contracts. If your option has a theta of -0.2, its price will change by 20 cents daily the closer it reaches maturity. Vega (ν) Vega (ν) measures an option's price sensitivity based on a 1% move in implied volatility. It relies on a calculation of implied volatility, the market's forecast of a likely movement in the underlying asset's price. Vega is always a positive value because as an option's price increases, its implied volatility also increases ceteris paribus.  In general, higher volatility makes options more expensive because there is a greater likelihood of meeting the strike price. An options seller will benefit from a fall in implied volatility, while a buyer will be disadvantaged. Let's look at a basic example: if your option has a vega of 0.2 and the implied volatility rises by 1%, the premium should increase by 20 cents. Can I Use the Greeks for Cryptocurrency Options Contracts? Cryptocurrencies are commonly used as underlying assets with options. Using a cryptocurrency makes no difference when calculating or using the Greeks. However, do note that cryptocurrencies can be highly volatile, which means that Greeks dependent on volatility or direction can also experience large swings.   Closing Thoughts With the four major Greeks mastered, you'll be better equipped to assess your risk profile at a glance. Options trading has a relatively high degree of complexity, and understanding tools like the Greeks is essential to trading responsibly. Furthermore, the four Greeks covered here aren't the only ones that exist. You can continue your options studies by exploring the minor Greeks. Further Reading What Are Perpetual Futures Contracts? What’s the Difference Between a CEX and a DEX? What Are Forward and Futures Contracts? What Is the Risk/Reward Ratio and How to Use It Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Bitcoin Hit $25,200 For A While, But The Asset Failed Once Again

Sebastian Seliga Sebastian Seliga 23.02.2023 13:31
Crypto Industry News: The three largest stock market indices in the US fell by 3% yesterday. At the same time, Bitcoin failed to break the $25,000 barrier again, and the subsequent rejection brought it back below $24,000. Most altcoins suffered even more, with MATIC, OKB, SOL and a few others down around 7%. The last few days, more precisely since the end of last week, have been characterized by high volatility for the main cryptocurrency. On Thursday, it surged to $25,000 and topped the high for a six-month high before dropping just as quickly to below $23,500. The next two attempts to cross $25,000 occurred in the last few days, and the last one was yesterday. BTC hit $25,200 for a while, but the asset failed once again. The subsequent rejection sent the value down, with Bitcoin trading below $24,000 today. This leap came during the Wall Street Crash. All three major US stock indexes closed in the red. The S&P 500 and Dow Jones were down 2% on the day, while the Nasdaq Composite was down over 3%. The recent drop in the price of BTC has lowered the asset's market capitalization to $465 billion. Its lead over altcoins increased slightly to 42.6%. Technical Market Outlook: The BTC/USD pair had made a new local high at the level of $25,257 and after a short period of consolidation reversed sharply lower to make a local pull-back. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. However, the bears had manage to break below the short-term trend line, but then bounced again from the 38% Fibonacci retracement of the last wave up located at $23,800. In a case of a breakout below this retracement level, the next target for the corrective cycle are $23,346 (50% retracement) and $22,868 (61% retracement), but for now the bulls are testing the broken trend-line from below. The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for BTC. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-24 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313792
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Strong And Positive Momentum On Daily Time Frame Chart Supports The Short-Term Bullish Outlook For Bitcoin

Sebastian Seliga Sebastian Seliga 17.02.2023 09:31
Crypto Industry News: The Russian State Duma has just passed a law that will allow financial services markets to combine their activities with blockchain platforms that issue or exchange digital financial assets (DFA), as well as act as buyers of their own securities, according to an Interfax report. Law No. 221502-8 was submitted for consideration to the Russian parliament on October 26, 2022 by a group of deputies headed by the head of the financial market commission Anatoly Aksakov and senator Nikolai Zhuravlev. According to the Russian Law of 2020 "On Conducting Financial Transactions Using Financial Platforms", financial market operators are not allowed to perform the activities of a credit institution, with few exceptions. The passage of this bill adds several new exceptions that will allow financial services markets to participate more in DFA. Currently, there are seven organizations in the register of authorized operators of financial platforms of the Central Bank or Russia (CBR): The Moscow Exchange platform finuslugi.ru, VTB Registrar, Infinitum, Sravni.ru, Open Financial Marketplace, Open Digital Solutions and Digital Technologies. The CBR register of IT system operators authorized to issue DFA includes four companies: Atomyze, which is partly owned by Interros billionaire Vladimir Potanin, Sberbank, Lighthouse, a fintech company that is currently developing a digital financial ecosystem with Transmashholding, and A-Token Alfa Bank. The Act also allows issuers of securities and persons acting on their behalf to act as buyers for the management of digital exchanges. Until now, only consumers of financial services could be buyers of securities. Technical Market Outlook: The BTC/USD pair had violated the short-term trend line resistance and made a new local high at the level of $25,257 and reversed sharply lower. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. The strong and positive momentum on daily time frame chart supports the short-term bullish outlook for BTC, however, the market is coming off the extremely overbought conditions on H4 time frame chart. Weekly Pivot Points: WR3 - $22,270 WR2 - $22,017 WR1 - $21,928 Weekly Pivot - $21,765 WS1 - $22,675 WS2 - $21,510 WS3 - $21,322 Read next: USD/JPY Is Trading Close To 134.00, EUR/USD Is Remaining Above $1.07| FXMAG.COM Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-02-18 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313204
ByBit calls Aragon today's outperformer. Ethereum validators earned a record $46 million in staking rewards

The Ethereum Market Made A New Local Low At The Level Of $1,596

Sebastian Seliga Sebastian Seliga 23.02.2023 13:37
Crypto Industry News: The CEO of the Bank for International Settlements (BIS) was critical of stablecoins during his recent speech. In his opinion, this type of asset has no chance to become "money of the future". On February 22, BIS Director General Agustin Carstens appeared at the Asia Conference as a guest of the Monetary Authority of Singapore (MAS). During his speech, he devoted a lot of attention to the topic of stablecoins and CBDC. In his opinion, last year's turmoil on the cryptocurrency market resulted in the loss of confidence of the Bank for International Settlements in this sector. Moreover, he believes that stablecoins do not have the appropriate predispositions to become "money of the future". Still, central bank digital currencies and tokenized deposits are a key aspect of financial innovation, Carstens said. The head of the BIS announced that stablecoins tied to the value of other assets, such as fiat currencies, do not operate under regulatory requirements. He added that this type of assets lack collateral, which is covered, for example, by bank deposits. Supervisory authorities and regulators from around the world have repeatedly emphasized their skeptical view of stable cryptocurrencies. Their concerns about the fundamentals and use of these assets were voiced long before the Terry stablecoin crash. Recall that this event took place in May 2022. The algorithmic stablecoin - UST - then lost its rigid link to the US dollar, and its value fell to practically zero. This led to many losses in the market, which totaled about 40 billion dollars. This year, regulators announced that they intend to implement new regulations on stablecoins. They also indicate that many entities from this market, primarily issuers, will not be able to meet the new regulations. Technical Market Outlook: The Ethereum market had broken below the 38% Fibonacci retracement level seen at $1,636 and made a new local low at the level of $1,596 before the bounce had happened (the level of $1,596 will act as the intraday technical support from now on). The weak momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 09:00 2023-02-24 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313794
BRICS Summit's Expansion Discussion: Impact on De-dollarisation Speed

All Fed Policy Makers Supported Further Tightening Of Monetary Policy

Craig Erlam Craig Erlam 23.02.2023 14:03
Equity markets are heading for a positive start to the session, paring Wednesday’s gains as investors digest the latest Fed minutes. The usual caveat applies to the minutes, being that a lot of time has passed, and to a great extent, the contents of them are either outdated or known. Still, as we saw on Wednesday, that doesn’t always matter and markets can still respond accordingly. The starkest takeaway was arguably that some policymakers could have gotten behind another 50 basis point increase and all backed further tightening ahead. While that aligns with some commentary we’ve had recently, the meeting took place before the jobs and inflation reports, and the retail sales data for January, all of which were very strong. So either policy makers came to this judgment in anticipation of those reports or they did it despite a series of softer prints that had convinced investors that the end of the tightening cycle was just around the corner. While I do take Fed commentary with a relative pinch of salt – as I believe the plan has always been to remain hawkish and keep financial conditions tight until the last minute and then quickly pivot once success is all but assured – the latter may well indicate that at least a few hikes are planned and any hope of cuts this year are, as communicated, slim. That could be the difference between a recession and a soft landing, although again, I take these warnings with a large pinch of salt. If January proves to be a blip in the data due in part to warmer weather – and the fact that bumps in the road back to 2% were always highly likely – we could quickly see market pricing shift once more. And we’ll get another full round of data before the next meeting which will give us a much better idea of whether this is a blip or a trend. Growing belief Bitcoin is continuing to show remarkable resilience as it trades up 2% today and back above $24,000. Don’t get me wrong, it’s not alone in doing so, we’re seeing similar in equity markets although to a lesser extent. There’s clearly belief returning to crypto markets and some confidence that the darkest days are behind it. If the newsflow can remain onside then that could prove to be the case and a break of $24,500-$25,500 could further fuel that belief. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Analysis Of Movement Of The Doge Cryptocurrency

Analysis Of Movement Of The Doge Cryptocurrency

InstaForex Analysis InstaForex Analysis 24.02.2023 08:09
Even though on the 4-hour chart the Doge cryptocurrency can be seen from the MA which is still crossing negatively and the CCI indicator is below the 100 level which all indicates that the sellers are still dominating quite strongly in Doge but the Bullish Fair Value Gap area level seems to act as a sufficient support area well as well as the appearance of the Failing Wedge pattern provides an indication that Doge has the potential to be corrected to rally up and up as long as it doesn't return to its original bias, especially not to break below the 0.07949 level, then Doge will try to break above the 0.09026 level. If this level is successfully broken, then the main target will be tested by Doge is the level of 0.09189 and if the momentum and volatility are supportive then the level 0.09828 will be the next target.   Relevance up to 01:00 2023-02-25 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/120113
Filecoin Cryptocurrency Has The Potential To Appreciate Up

Filecoin Cryptocurrency Has The Potential To Appreciate Up

InstaForex Analysis InstaForex Analysis 24.02.2023 08:11
With the appearance of Descending Broadening Wedge pattern as well as followed by the appearence of deviation between price movement with Stochastic Oscillator indicator also followed by the appearance of Bullish 123 pattern on its 4 hour chart, then Filecoin cryptocurrency has the potential to appreciate up to the level 7,989 if this level successfully broken above then the next level to test by Filecoin is 9,052 with the note that during the upward movement there was no downward correction that exceeded the 6,408 level because if this level is successfully broken down, all of the above scenarios will become invalid and cancel automatically.   Relevance up to 01:00 2023-02-25 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/120115
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Galaxy Digital has invested in an institutional cryptocurrency storage platform

Sebastian Seliga Sebastian Seliga 24.02.2023 10:38
Crypto Industry News: Galaxy Digital has invested $44 million in an institutional cryptocurrency storage platform to leverage its own asset storage and management capabilities. Mike Novogratz's cryptocurrency investment firm has completed the acquisition of GK8. The entity has developed its own patented cryptocurrency storage technology to provide secure asset management to institutional users. The website specializes in providing cold vault technology, which allows you to perform transactions without an internet connection. Its internal MPC provides the ability to automate transactions, and the service also provides network access to decentralized finance (DeFi), tokenization, NFT, and trading. The statement from Novogratz emphasized that the main reason for the acquisition is the increased demand from investors for custody services. GK8's storage solutions and wallet technology will be incorporated into Galaxy Digital's upcoming GalaxyOne brokerage platform. As part of the business deal, Galaxy will add an office in Tel Aviv to its organization and nearly 40 GK8 employees will become part of a wider group. GK8 founders Lior Lamesh and Shahar Shamai will remain in office to lead Galaxy's security technology portfolio. Technical Market Outlook: The BTC/USD pair has been rejected from 50 MA on H4 time frame chart and is trading lower in low volatility conditions. A sustained breakout above the level of $25,000 on BTC/USD is still needed in order to extend the rally towards the key mid-term technical resistance seen at $25,442, so there is still a room to the upside for bulls. However, the bears had manage to break below the short-term trend line, but then bounced again from the 38% Fibonacci retracement of the last wave up located at $23,800. In a case of a breakout below this retracement level, the next target for the corrective cycle are $23,346 (50% retracement) and $22,868 (61% retracement), but for now the bulls are testing the broken trend-line from below. The weak and negative momentum on H4 time frame chart supports the short-term bearish outlook for BTC. Weekly Pivot Points: WR3 - $25,667 WR2 - $24,967 WR1 - $24,709 Weekly Pivot - $24,259 WS1 - $24,000 WS2 - $23,550 WS3 - $22,841 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.     Relevance up to 10:00 2023-02-25 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313949
Is the end of NFT flipping and speculation near? LiveArt announces an NFT membership card

RMS Titanic Inc will convert artifacts found on the famous ocean liner into NFT

Sebastian Seliga Sebastian Seliga 24.02.2023 10:44
Crypto Industry News: The American company RMS Titanic Inc (RMST) has announced that it will convert artifacts found on the famous ocean liner into NFT. This is a step taken by the company responsible for the search for missing items after establishing cooperation with two Hong Kong companies. The company responsible for salvaging items from the ship that sank in 1912 indicated in a statement that the collection of non-fungible tokens will consist of more than 5,500 physical artifacts that will be preserved digitally. Thanks to this technology, the exclusivity and authenticity of the items sold can be ensured. In addition, the creation of this collection will mark the appearance of the first Titanic collection in Web 3. "As custodians of the wreck of the Titanic, we are determined to ensure that its artifacts are preserved forever and made available for future generations. We believe that entering the digital space will allow us to reach a wider audience with high-quality programming that educates and inspires," said RMS Titanic CEO Jessica Sanders. It was also announced that VSFG will take care of the transformation of real elements into digital. In turn, Artifact Labs will be responsible for launching a Decentralized Autonomous Organization (being an algorithm-based association) focused on a luxury shipwreck. This will make it possible to organize diving trips and other activities, such as the development of educational programs. Technical Market Outlook: The Ethereum market has bounced from a local low seen at the level of $1,596 and is trading back above 100 MA around the level of $1,652. The weak momentum on the H4 time frame chart supports the short-term bearish outlook for ETH. The intraday technical resistance is seen at the level of $1,677 and $1,680 (50 DMA). Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support. Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,774 WR2 - $1,726 WR1 - $1,709 Weekly Pivot - $1,678 WS1 - $1,661 WS2 - $1,630 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 10:00 2023-02-25 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/313951
The professionals handling the FTX bankruptcy case billed a total of $38 million plus expenses for January, according to court records

How To Take Advantage Of The Potential Financial Opportunity Of Cryptocurrencies?

Binance Academy Binance Academy 26.02.2023 12:37
TL;DR Personal financial goals are the monetary objectives you set to take control of and manage your finances. There are many ways to reach your personal financial goals, from monetizing your hobby to drawing up a savings plan. As the cryptocurrency industry grows,  it’s becoming another potential tool for meeting personal financial objectives. What Are Personal Financial Goals? Setting personal financial goals is the first step towards properly planning out your personal spending, earnings, savings, and investments. Without a goal, it’s hard to budget for how much you can spend and how much you should save. You’d also find it difficult to work methodically towards putting your personal finances on solid footing. In fact, research has identified that setting the right goals is linked to greater success. These goals differ from person to person, depending on various individual factors. For some, it could be to save $1,000 every month. For others, it’s reaching $10 million in net worth. There are different strategies to reach your financial goals, but the two central methods are always to reduce spending and increase income. How to Set Your Personal Financial Goals When it comes to goal-setting, it’s important to use the widely-recognized SMART method, which stands for specific, measurable, action-oriented, realistic, and time-bound. Personal financial goals need to be specific and measurable. Aiming to save $1,000 per month is specific and measurable, whereas saying you’ll save “some” money is not. These objectives also need to be action-oriented. For example, limiting your monthly spending to 50% of your salary requires action, but “I want to be rich” is too vague an objective that’s not action-oriented. It’s also essential to create goals that are realistic and set within specific time frames. One common method is to organize your goals according to short-term, mid-term, and long-term goals. Short-term goals can be accomplished within a few months or a year, mid-term goals (such as becoming debt-free or saving for your child's education) up to five years, and long-term goals (such as buying a property or investing in a retirement fund) more than five years.  It’s good practice to always attach deadlines to your financial goals. Growing your investment portfolio to $10,000 by the end of 2023 is more likely to motivate you than the same goal without a deadline. Additionally, if you have multiple financial targets, make sure to plan and prioritize them carefully. For instance, if you want to buy a property in 10 years, you can work backwards from saving for a $200,000 down payment to determine how much you need to save each month.  Strategies to Achieve Financial Goals There are two main approaches to meeting your financial objectives: reducing spending and increasing income. Reduce spending Track your spending: Before you can cut your spending, you need to understand where your money is going. Monitor your spending habits for a month and record all your expenses.  Create a budget: Impose a limit on your spending to manage your money better by adjusting your spending habits and cutting down on unnecessary expenses. Live within your means: Spend less than you earn; sticking to a budget can help you avoid overspending. Also, try to avoid impulse purchases. It can be tempting to buy something on a whim, but wait for at least 24 hours before making a decision. Save consistently: Make sure to save a specific portion of your income each month. For instance, you can aim to save at least 10% of your monthly salary. Increase income Savings with interest: Maximize your savings by putting them in an interest-bearing savings account.  Side hustle: If your main job allows, take on a part-time job to generate extra income. You could explore the gig economy or even start your own business. If you have a hobby, think about how to monetize it.  Passive income: Passive income is income earned without having to actively work for it. This type of income is often generated from investments, such as crypto, forex, stocks, and bonds. Other types of passive income include royalties from intellectual property and rental income. How Crypto Can Help Achieve Your Financial Goals Start a crypto savings account If you’re not interested in active trading, you can consider generating passive income from your crypto holdings through a crypto interest-bearing savings account. Deposit your digital assets and earn interest on them instead of letting them stay idle. Spend with crypto cards When purchasing necessities, look for deals that allow you to save when you spend. This includes cashback reward programs and crypto cards that allow you to get back a percentage of your purchase amount in the form of credit, cash, or crypto.  Start a crypto reselling business Thinking of taking on a new income stream? Consider reselling or distributing crypto gift cards to earn a profit. Crypto gift cards allow users to top up their crypto accounts and pay for goods and services conveniently and securely. Become an NFT artist  Monetizing your hobby can be a great way to turn something you love doing into a profitable venture. If you’re a creator, there’s a billion-dollar market for non-fungible tokens (NFTs). There are numerous NFT marketplaces that allow artists to mint their own media creations and kickstart their NFT creator journey. Invest in crypto to diversify your portfolio Diversification is a risk mitigation technique commonly used in investment management. Crypto can be used to diversify one’s investment portfolio, though how correlated crypto markets are from other financial markets is debatable. Ultimately, investing in crypto may be suitable for some investors as a diversification tool, depending on one’s risk appetite and investing style. Always remember that crypto investing is risky and not meant for everyone. For a step-by-step guide to crypto investing, start here. Tips for Using Crypto to Reach Your Goals DYOR Crypto has its merits as an investment vehicle, but it also involves taking risks that other income-earning opportunities like freelancing do not entail. Hence, remember to always do your own research (DYOR) before taking on any financial risk. There are many ways to do so, and the more extensive your research, the more adept you’ll be at identifying potential risks. Risk management Risk management is a critical tool for investing or trading success. A good general rule to follow is to invest only as much as you’re willing to lose, and employ strategies to protect your investments. For starters, read A Beginners Guide to Risk Management to learn how to manage your assets responsibly.  Understand crypto tax liabilities If you’ve started working towards your financial goals by investing in crypto, the next step is to understand and address your crypto tax liabilities. In some jurisdictions, a penalty may be imposed if you don’t pay the required taxes on your crypto earnings.   Closing Thoughts Depending on your comfort level, current needs, and priorities, there are several ways to reach your financial goals. Some of these strategies can be used in combination with one another or on their own, depending on your preferences. Regardless of your approach, remember not to rush into any potential financial opportunity, crypto or otherwise. Rushing in with a “high risk, high reward” mentality may backfire and set you back on your goals.  Further Reading What Is Forex Trading? Interest Rates Explained What Are Crypto Cards and How Do They Work? How to Make Your Own NFTs Why and How to Do Your Own Research (DYOR) When Investing in Crypto Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice.
The Fear of Strong Jobs: How US Labor Market Resilience Sparks Global Financial Panic

Summary Of The Week 20-24.02.2023 In Stock Market

Conotoxia Comments Conotoxia Comments 26.02.2023 12:42
Expectations of interest rate rises by the Federal Open Market Committee (FOMC) may be rising as a result of the report of their last meeting, where members declared increased action to combat inflation. This had a negative impact on sentiment, among others, in the US market. What else did the past week reveal to us? Macroeconomic data We started the week of key macroeconomic data on Tuesday. First, we learned about economic sentiment readings in Germany. The PMI industrial managers' sentiment index came in worse than expected at 46.5 (47.8 was expected), while the sentiment index for the next six months among financial analysts positively beat expectations at 28.1 (22 was expected). This is a continuation of the increase in this indicator for 5 months. Rising expectations seem to be keeping the DAX index (DE40) up, which closed at the same level it was at the beginning of the week. Source: Conotoxia MT5, DE40, Daily On the same day, we learnt readings of sentiment indicators from the UK, which surprised analysts positively. The PMI for both manufacturing and service sectors came in at 53 points (49 points were expected). This is the first reading above 50 points since August 2022, which could indicate expected future growth in this economy. This would also be confirmed by UK company valuations. The UK100 Index (UK100) is currently reaching its historic highs. Source: Conotoxia MT5, UK100, Daily We started Wednesday with Germany's CPI inflation reading for February. It was in line with expectations at 8.7%, the first increase in German inflation since November 2022. However, it seems that the most important thing of the day was the minutes of the February FOMC meeting. The transcript of the discussion may have triggered a downward reaction in the US market, as more policymakers opted for a repeat of December's half percentage point rate hike. Most participants in the discussion agreed that it was appropriate to raise the target range for the federal funds rate by another 25 basis points, with many saying they were willing to consider a larger range of future hikes to bring inflation back to the target of around 2% as soon as possible. The FOMC reaffirmed that inflation remains elevated, with growing concerns over Russia's actions, as well as the loosening of Covid tightening in China, continuing to contribute heavily to heightened global uncertainty and posing significant risks to continued high inflation. The S&P 500 Index (US500) is down almost 2% this week. Source: Conotoxia MT5, US500, Daily We started Thursday with the Eurozone CPI inflation reading for January. It turned out to be in line with analysts' expectations, coming in at 8.6% and losing momentum for the fifth time in a month. On the same day, we learnt the GDP reading from the United States, which was slightly worse than analysts' consensus at 2.7% (annualised, 2.9% was expected). We also learned about the number of new claims for unemployment benefits: 192,000 (200,000 expected). It seems that despite the economic slowdown, the US economy remains stable. At the end of the week, we learned the GDP results for the German economy. The market now seems to be struggling with a slowdown, as the reading was minus 0.4% m/m. (minus 0.2% m/m was expected) and this is the second consecutive downward reading. The stock market Following the publication of the transcript of the FOMC meeting discussions, shares of companies from almost all sectors of the S&P 500 index were able to fall. The energy sector lost the most, by as much as 3.2%, while the consumer goods sector (up 0.6%) was the only gainer. What may seem interesting is that the declines in the energy sector came despite increases in commodity prices. Natural gas futures prices have risen by almost 8% since the beginning of the week. Oil prices remained unchanged. Source: https://www.sectorspdr.com/sectorspdr/tools/sector-tracker This week we continue with companies' quarterly reports for Q4 2022. On Tuesday, the largest US retailer, Walmart (Walmart), released its financial results. The chain reported earnings per share EPS of US$1.71 (US$1.52 was expected) and higher-than-expected sales revenue. Source: Conotoxia MT5, Walmart, Daily Technology giant Nvidia (Nvidia) delivered a better-than-expected report on Wednesday. EPS came in at US$0.88 (US$0.81 was expected). The company's shares opened the following day 14% above the previous close following the report. On Thursday, US online accommodation and other travel services booking company Booking (Booking) reported better-than-expected EPS of US$24.74 (US$22 was expected). Source: Conotoxia MT5, NVIDIA, Daily The week ended in the red for most companies, with technology giant Alphabet (Google) pioneering the biggest falls, down more than 6%. Source: https://finviz.com/map.ashx?t=sec&st=w1 Currency and cryptocurrency market After the FOMC 'minutes', the US dollar began to strengthen significantly, as could be seen in the quotations of the EUR/USD pair, which has fallen by 1.1% since the beginning of the week. The Australian dollar lost significantly: quotations of the AUD/USD pair fell by 1.6% since the beginning of the week. Source: Conotoxia MT5, EURUSD, Daily We may see a correction in the cryptocurrency market after a successful start to the year. The price of bitcoin has fallen by more than 3% over the course of this week, while ethereum has fallen by 2.9%. bitcoin seems to have stopped at a price of US$25,000. However, despite the recent increases, an outflow of funds from this market could be noticed. The capitalisation of stablecoin fell by almost 2% m/m. Source: Conotoxia MT5, BTCUSD, Daily Grzegorz Dróżdż, Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Bitcoin May Expect The Further Downside Movement

Peter Jacimovic Peter Jacimovic 27.02.2023 09:33
Technical analysis: BTC/USD has been trading downside as I expected and the market has reached downside objective at $23.000 in the background. Anyway, During the overnight session, I found that there is the breakout of the upside channel and rejection of the multi Fibonacci levels, which is good sign for the further downside movement. Downside objectives are set at $223.955 and $22.500 Read next: Pfizer Is In The Early Stages Of An Acquisition Of Biotech Company Seagen, Twitter's Staff Has Shrunk Since Elon Musk Took Over| FXMAG.COM Stochastic and MACD oscillators are showing fresh downside cross, which is another good sign for the further downside movement. Key resistance is set at the price of $23.800     Relevance up to 09:00 2023-02-28 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314100
Incoming Government Faces Challenges Amid Slowing Spanish Economy

BNP Paribas Sued For Providing Financial Services To Companies That Allegedly Contribute To Deforestation Of The Amazon Rainforest

Kamila Szypuła Kamila Szypuła 27.02.2023 10:57
You hear more and more often that companies are sued for actions that threaten the climate, but this is the first time you hear about a lawsuit against a bank. In this article: Lotte Group and Polygon Ukraine war updates French bank BNP Paribas sued by NGOs Lotte Group and Polygon Lotte Group, South Korea's fifth-largest conglomerate with manufacturing, hotel and e-commerce businesses, plans to expand its non-fungible token (NFT) business globally through a partnership with the Polygon blockchain. The Lotte Group has assets of more than 121 trillion Korean won (US$92.3 billion). The rebranded collection will be called "BellyGom NFT Season 2". The company is still working on the project and there is no release date for the collection. Polygon is the third largest blockchain in NFT sales in the last 30 days. . The Polygon platform is compatible with Ethereum, and Polygon has signed partnership agreements with global brands such as Starbucks, Adidas and Prada. NEWS: Lotte Group, a South Korean conglomerate, has announced partnership plans with Polygon (#MATIC) to expand its #NFT business globally.📰 https://t.co/iJVTndtwvR pic.twitter.com/h9w2QsnoEN — CoinGecko (@coingecko) February 27, 2023 Read next: Pfizer Is In The Early Stages Of An Acquisition Of Biotech Company Seagen, Twitter's Staff Has Shrunk Since Elon Musk Took Over| FXMAG.COM Ukraine war updates After a year of war, the conflict has no end. Ukraine is supported by Western countries. Meanwhile, Ukraine received support and financial assistance this weekend from an unlikely source: Saudi Arabia. Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al Saud, Ukraine's Foreign Minister Dmytro Kuleba and Chief of the Cabinet of the President of Ukraine Andriy Yermak were present at the signing ceremony of the agreement and the memorandum of understanding worth USD 400 million in aid for Ukraine. Ukrainian President Volodymyr Zelensky praised Saudi Arabia on Sunday after a high-level diplomatic visit that saw the Middle Eastern kingdom, Russia's ally for its ties to oil production. On the other side of the clash, Russian President Vladimir Putin said Moscow needs to consider NATO's nuclear capabilities and reiterated that the West wants to eliminate Russia. Putin said that the West is complicit in the "crimes" committed by Ukraine by supplying the country with weapons, with the ultimate goal of destroying and dividing Russia. Putin has repeatedly blamed the West for causing the conflict in Ukraine. In a speech last week ahead of the first anniversary of the outbreak of war, Putin tried to justify the Russian invasion by claiming it was trying to allow citizens of the disputed Donbass region in eastern Ukraine to speak their "own language". Russia has to take NATO's nuclear capabilities into account, Putin says; Ukraine gets Saudi support https://t.co/4mvxAu4Zai — CNBC (@CNBC) February 27, 2023 French bank BNP Paribas sued by NGOs The Brazilian NGO Comissão Pastoral da Terra and the French group Notre Affaire À Tous said they filed a lawsuit in a Paris court last week alleging that BNP Paribas failed to carry out proper checks before agreeing to provide financial services to companies that allegedly contribute to deforestation of the Amazon rainforest. Destruction of forests is the largest source of greenhouse gas emissions in Brazil, and climate activists are increasingly using lawsuits to force large companies to move to a low-carbon economy. French companies have become of particular interest due to a 2017 French law that requires them to identify and prevent threats to human rights and the environment French bank BNP Paribas sued by NGOs over Amazon deforestation link https://t.co/o7Uu0v0Ztz pic.twitter.com/iCQ74p7bEP — Reuters Business (@ReutersBiz) February 27, 2023
More declines of Bitcoin to US dollar should force the altcoins to drop as well

Technical Outlook Of Price Movement Of Bitcoin

Ralph Shedler Ralph Shedler 27.02.2023 14:16
The price of Bitcoin dropped to 22,770 on Saturday, where it found demand again. Now, it has rebounded and is trading at 23,378. Technically, the crypto signaled exhausted buyers and a potential larger correction in the short term. In the past 24 hours, BTC/USD gained 0.70% but was down by 6.05% in the past 7 days. Bitcoin's sell-off forced the altcoins to drop as well. BTC/USD Retesting The Sellers! BTC/USD escaped from the range between 25,212 and 23,369 signaling a deeper drop. Now, the crypto came back to test and retest the broken downside obstacle. Technically, after its last drop, a temporary bounce back is natural. The weekly pivot point of 23,860, the median line (ML), and the upper median line (uml) represent upside obstacles. Read next: EUR/USD Pair Is Trading Around 1.0560, USD/JPY Is Above 136.20, GBP/USD Gained| FXMAG.COM BTC/USD Outlook! Testing and retesting the immediate resistance levels, registering only false breakouts may announce that the temporary rebound ended. As long as it stays below the descending pitchfork's upper median line (uml), BTC/USD could extend its downside movement. Temporary rebounds should bring new short opportunities. The median line (ml) acts as a magnet and it could attract the price   Relevance up to 12:00 2023-02-28 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314154
DPX Token Registered A 24-Hour Return Of 11.11%

DPX Token Registered A 24-Hour Return Of 11.11%

ByBit Analysis ByBit Analysis 27.02.2023 15:06
Daily Hot Token — Dopex (DPX) Higher than expected PCE index sent the jitters to the market, as investors worry about persistent inflation growth. The broader cryptocurrency declined on Friday and rebounded slightly early Monday this week, with Bitcoin and Ether up by 1.50% and 2.67% respectively in the past 24 hours as of the time of writing. The hot token today is DPX, which registered a 24-hour return of 11.11%, outperforming the market due to the recent month’s CES listing. In addition, DPX will be listed on Bybit starting Feb 27, 2023, so stay tuned! DPX is the native token of Dopex, a decentralized options exchange built on Arbitrum, BNB Chain, Avalanche, and Ethereum. As decentralized perpetual exchanges such as GMX gain traction, decentralized option exchanges are set to take off as investors seek decentralized trading platforms. Dopex set itself apart by Single Staking Option Vaults (SSOV), a model that protects option writers from losses with rDPX rebates and DPX rewards. Despite a promising future for an options DEX, the liquidity on the platform has not seen exponential growth as a perpetual DEX, as evidenced by a meager TVL. Check Out the Latest Prices, Charts, and Data for DPX/USDT! Talk of the Town Web3 music streaming protocol Audius deepens its partnership with TikTok by linking TikTok profiles to the platform. Audius has a long history of TikTok integration, where the music protocol allows streaming music on its platform to upload to TikTok for distribution. The news follows Spotify’s launch of tokenized music playlists, suggesting web2 and web3 integration is becoming more mainstream for the music industry.  Check out what else is buzzing in the crypto scene today: Sushi plans derivatives exchange on the Sei blockchain in Q2. (Link) Eclipse to release a Solana-compatible rollup blockchain built for the Polygon network. (Link) Web3 Music Streaming Platform Audius Integrates TikTok. (Link)
Crypto: according to Craig Erlam, there seems to be a gap between reality and prices

The Bears Of Bitcoin Remain In Control

Sebastian Seliga Sebastian Seliga 28.02.2023 09:30
Crypto Industry News: A former employee of the town of Cohasset, Massachusetts allegedly stole nearly $18,000 worth of electricity. Reason? It powered 11 cryptocurrency mining excavators. The secret cryptocurrency mine was located in the basement of Cohasset High School. It was discovered by the director of the facility. This took place at the end of 2021 during a routine building inspection. During the excavation, the aforementioned 11 excavators were found. According to media reports, said former city employee, Nadeam Nahas, was to be indicted on February 23 on charges of vandalizing a school building and stealing energy. A former employee is known to have stolen electricity worth nearly $18,000. He was mining cryptocurrencies between April 28 and December 2021, when his mine was discovered during the aforementioned inspection. The excavators were working 24 hours a day, 7 days a week at that time. Interestingly, he was only considered a suspect after a three-month investigation. Nahas resigned from his position at Cohasset in March 2022. Technical Market Outlook: The BTC/USD pair has tested the 50 MA on H4 time frame chart ($23,885) and reversed lower. The market still trades below the 50 and 100 MA, so the bears remain in control. The intraday technical support is seen at the level of $23,114 and $22,775, so any breakout below this levels will be considered bearish. The market is now developing the correcitve cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314280
DPX Token Registered A 24-Hour Return Of 11.11%

Spotify Is Testing Playlists With NFT Integration In Its Latest Pilot Program

Sebastian Seliga Sebastian Seliga 28.02.2023 09:34
Crypto Industry News: Spotify, one of the largest streaming platforms in the world, is testing playlists with NFT (Non-Fungible Tokens) integration in its latest pilot program. This is another attempt to use NFT outside the art world, where tokens have become very popular as a form of collecting digital art and most likely a milestone for business and the entire cryptocurrency sector. This functionality would allow the creation of playlists that will only be available to users with the appropriate NFT token. To use it, the user would have to connect his cryptocurrency wallet such as MetaMask or TrustWallet with an account with Spotify Premium functionality (this is a paid option to subscribe to an account on this platform). This would ensure that selected playlists would only be available to a narrow, elite audience who had previously decided to purchase a given NFT (for example, belonging to a specific artist or group of artists). Among the projects taking part in the pilot program were such collection names as FLUF World (its avatars are very distinctive animated rabbits), Moonbirds (a project belonging to a well-known founder of Silicon Valley start-ups Kevin Rose), Kingship (a team belonging to the Bored Ape Yacht team Club) or Overlord. Technical Market Outlook: The Ethereum market has made a Bearish Engulfing candlestick pattern at the level of $1,664 and reversed lower to trade between the 50 and 100 MA on the H4 time frame chart. The intraday technical resistance is seen at the level of $1,677 and $1,680. Sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314281
Rates Spark: Bracing for more

Markets Should Be Prepared For Return To 50bp And No Cuts This Year

Craig Erlam Craig Erlam 28.02.2023 14:43
It hasn’t been the most thrilling start to the week but that didn’t stop investors from piling back into stocks on Monday in the hope that January data proves to be an anomaly. That enthusiasm didn’t flow through to Asia overnight where indices are a mix of tiny losses and gains, and Europe looks poised to open in a similar fashion. In reality, the bumper start yesterday was simply a process of unwinding the losses from late last week which further suggests investors are in no mood to be discouraged. While bond markets have pivoted quite considerably from pricing in peak interest rates in the near future and rate cuts later in the year to multiple more hikes, perhaps even a reversion to 50 basis points, and no cuts this year, the message doesn’t appear to have gotten through to equity markets. That may well change if the February data continues to point to red-hot labour markets, stubborn inflation, and healthy household spending. But I expect that won’t be the case and investors may well be banking on that too. We all want to see resilience in the economy but if that leads to much higher interest rates, which are already now very high, that resilience won’t last long and hopes of a soft landing will quickly fade. Profit-taking kicking in? Bitcoin is trading a little lower today after giving up the bulk of its Monday gains late in the session. We’re still seeing strong resilience in cryptos but perhaps there’s some profit-taking kicking in after what has been a remarkable start to the year. There remains considerable resistance around $24,500-$25,500, a break of which could be a very bullish signal. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Both Visa And Mastercard Are Delaying The Launch Of Some Cryptocurrency-Related Products

Sebastian Seliga Sebastian Seliga 01.03.2023 09:28
Crypto Industry News: Visa and Mastercard payment processors are delaying the launch of new partnerships with crypto firms due to regulatory scrutiny, which has intensified after recent industry bankruptcies, according to a media report. Previously, the payment giants explored USD Coin (Mastercard) payments and stablecoin (Visa) settlements, but have now shifted their plans to launch cryptocurrency-related products and services until market conditions and the regulatory environment improve. Both Visa and Mastercard are said to be delaying the launch of some cryptocurrency-related products and services until market conditions and the regulatory environment improve. These delays are intended to minimize risks associated with uncertain crypto regulatory environments following the collapse and bankruptcy of digital asset holding companies such as Celsius, FTX, Three Arrows Capital, Voyager Digital and others over the past year. Technical Market Outlook: The BTC/USD pair has tested the 50 MA on H4 time frame chart ($23,885), reversed lower and is currently trying to resume the up move againg by approachnig the technical resistance and upper range boundary located at $23,868. The market still trades below the 50 and 100 MA, so the bears remain in control. The intraday technical support is seen at the level of $23,114 and $22,775, so any breakout below this levels will be considered bearish. The market is now developing the correcitve cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term   Relevance up to 09:00 2023-03-02 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314465
An Investigation Against Terraform Labs In Singapore

Ethereum Bulls Are Approaching The Last Local High Level Again

Sebastian Seliga Sebastian Seliga 01.03.2023 09:33
Crypto Industry News: Daleep Singh, former US Deputy National Security Advisor in the Biden administration, spoke at the Senate Banking Committee. Like many politicians before him (and probably after him) he attacked cryptocurrencies. He stated that these facilitate ransomware attacks and contribute to the evasion of US sanctions. However, Singh believes that the US government can take some steps to help offset the negative impact of cryptocurrencies. He pointed to the need to create a central bank digital currency (CBDC), which "is the best step we can take [to protect national interests] because it would displace the cryptocurrency ecosystem." He's not the only one who thinks so. In an interview in May 2022, Franklin Noll — president of consulting firm Noll Historical Consulting — also suggested that CBDCs could displace cryptocurrencies. In his opinion, CBDCs can help "displace private cryptocurrencies", with particular emphasis on "stablecoins focused on retail payment areas". He added that cryptocurrencies will not disappear, but "will remain in the niches of the payment system." Singh and Noll's opinion, however, is something isolated in Washington salons. While China has already implemented its own CBDC - the digital yuan - the US is still only analyzing the issue. Only Project Hamilton has recently been completed. Its purpose was to explore the potential of the digital dollar. However, there is little indication that the results of these analyzes will trigger any CBDC issuance activities in the US. Critics of such a cautious policy point out that CBDCs can revolutionize e.g. international trade. Thus, China with the use of the digital yuan will be able to damage the position of the dollar as a currency commonly used for cross-border transactions. Technical Market Outlook: After the three wave down move from the level of $1,664, the Ethereum bulls manage to reverse and now are approaching the last local high level again. The intraday technical resistance is seen at the level of $1,677 and $1,680, so any breakout above this levels would open the road towards the February highs seen between $1,720 - $1,8742. On the other hand, a sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 09:00 2023-03-02 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314467
Asia Morning Bites - 22.05.2023

Positive Signals From China, Bitcoin Is Trading More Than 2% Higher

Craig Erlam Craig Erlam 01.03.2023 11:43
Equity markets in Asia are enjoying some decent gains overnight, with China and Hong Kong the obvious outperformers, while Europe is also enjoying a positive start on Wednesday. Choppy trading conditions are still evident this week although the latest Chinese PMIs have provided some cause for more optimism. It was already believed that the transition from zero-Covid to living with it was going smoothly but this survey data suggests businesses are now extremely optimistic about the future. That bodes well not just for China but regionally as well, as strong demand boosts trade and a resurgence in tourism restores the battered industry. There’s still a long way to go and there could be setbacks along the way but investors will no doubt be encouraged by these early signs. Those with close economic links with China have seen their currencies perform well in the aftermath of the releases, while the yuan is also trading much stronger on the day. While the initial reopening data may be noisy, a strong rebound will be very welcome after a very challenging 2022. Read next: Some Mcdonald's Locations Don't Promote Hip-Hop Stars' New Meal| FXMAG.COM A timely boost Not one to miss out on a bump in risk appetite, bitcoin is trading more than 2% higher this morning. It appears to have consolidated around late-February lows in recent days after failing to break key resistance – $24,500-$25,500 – in the middle of the month. That could be a sign of weakness, at least in the short-term, although ultimately it’s hard to imagine that occurring if we do see risk appetite continue to improve. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The French National Assembly Voted For The Introduction Of More Severe License Regulations For New Cryptocurrency Companies

Sebastian Seliga Sebastian Seliga 02.03.2023 09:37
Crypto Industry News: The French National Assembly voted for the introduction of more severe license regulations for new cryptocurrency companies in order to harmonize local regulations with proposed European Union standards. Voting was adopted by 109 votes (60.5%) for, at 71 (39.5%) against. The act now goes to President Emmanuel Macron, who has 15 days to approve it or send it to parliament. If the new law is adopted, it will force cryptocurrency service providers based in France to comply with more severe regulations regarding counteracting money laundering, showing segregation of customer funds, compliance with new guidelines for reporting to regulatory bodies, and providing more detailed information on the risk and conflicts of interests , to strengthen consumer protection. The Act will not apply to 60 cryptographic companies registered in Financial Markets Authority (AMF), the National Polish Financial Supervision Authority. These companies will continue to comply with AMF principles, until the probable adoption of their own EU regulations regarding cryptocurrencies together with the Act on cryptographic asset markets (MICA). Therefore, more stringent regulations would apply only to cryptographic companies that have been registering since July. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and is currently trading back inside a narrow range seen between the levels of $23,044 - $23,885. The intraday technical support is seen at the level of $23,114 and $22,775, so any breakout below this levels will be considered bearish. The market is now developing the correcitve cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term   Relevance up to 08:00 2023-03-03 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314647
Is the end of NFT flipping and speculation near? LiveArt announces an NFT membership card

NFT Market Looks Like It Has Been Experiencing A Second Youth

Sebastian Seliga Sebastian Seliga 02.03.2023 09:46
Crypto Industry News: Looking at the wear of the so -called 'Gas Fees' on Ethereum Glassnode indicated that the NFT market is the main increase in network activity. This market, despite the ongoing bear market and the return of uncertainty to the market, looks like it has been experiencing a 'second youth'. After a sharp decrease in user activity at the end of 2022, the total gas consumption of NFT transactions increased by 97% throughout January and February and is approaching the levels of euphoria from 2021. According to Glassnode, the main catalyst for the NFT market becomes the OpenSea, Blur platform and Ordinals on Bitcoin. The BLUR's interest led to an increase in demand for blocking space. This, in turn, caused an increase in fees for validators and more ETH burned via the EIP1559 protocol introduced in 2021. However, we are far from the fundamental, significant increase in the ETH network. Although there has been a noticeable increase in the total on-chain activity, both the growth and the number of new addresses are still 40% lower than in February 2022, and the monthly average remains below the annual signaling the maintaining negative momentum. On this basis, Glassnode formulates the conclusion that NFT's interest is more common among existing users, without a special participation of a tide of new users to the Ethereum network. This, in turn, leads to the conclusion that OpenSea competes for the share in the NFT market with Blur around the same base of users of the cryptocurrency sector. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,677 after three wave up move had been terminated with a Shooting Star candlestick pattern on H4 time frame chart.The intraday technical resistance is seen at the level of $1,677 and $1,680, so any breakout above this levels would open the road towards the February highs seen between $1,720 - $1,8742. On the other hand, a sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000   Relevance up to 08:00 2023-03-03 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314649
Italy Eases Windfall Tax Impact Amid China's Deflation, Focus on US Inflation Report

Global Layoffs Are Affecting The Investment Banking Sector In Asia

Kamila Szypuła Kamila Szypuła 03.03.2023 08:09
Employment has increased in many industries during the pandemic, but the situation has changed and many companies are announcing job cuts. Until now, mainly technology companies have significantly reduced employment, aloe has recently been joined by other industries such as banking. In this article: Layoffs in Asian investment banking The Fed renewed investors' hopes The long-awaited update of the Ethereum network in Shanghai Layoffs in Asian investment banking Global banks including Goldman Sachs and Morgan Stanley are in the process of cutting thousands of jobs. Several other financial firms have also slashed jobs in recent months, including major asset managers and fintechs, amid a turbulent macroeconomic environment that has pressured consumers and soured demand in several mainstay business units. Bank of America and Citigroup cut several jobs in investment banking in Asia, joining global partners in cutting jobs Bank of America (BofA) cut about half a dozen Hong Kong investment banking jobs on Thursday, and Citi on Thursday cut four jobs from its China investment banking team. BofA, Citi cut handful of investing banking jobs in Asia - sources https://t.co/QmatsCtb9a pic.twitter.com/vBgz0scq7B — Reuters Business (@ReutersBiz) March 3, 2023 Read next: Despite The Decline Euro Remains Above 1.06, GBP/USD Is Trading Below 1.20| FXMAG.COM The Fed renewed investors' hopes Although inflation is slowing down, the fight against it continues. Banks around the world last year raised interest rates to record levels not seen since 2008. The actions of the Fed are attracting attention. After the publication of inflation data and a series of other reports (GDP, PMI), the market expects that the Fed will decide to hike by 25 bp. Recently, Atlanta Federal Reserve Chairman Raphael Bostic told the media that he favors lower – and slower – rate hikes. On top of that, the data suggests that the labor market, somewhat astonishingly, is still solid, which could prompt the Federal Reserve to raise rates when it meets later this month. Markets opened lower after this news. The situation of interest rates has an impact on the markets, especially currency, stocks and bonds. US stocks rose on Thursday with all major indexes closing in the green. A survey by the American Chamber of Commerce in China found that its members, for the first time in 25 years, do not consider China a top three investment priority. To boost sentiment, the Chinese government is courting potential investors and declaring a "Year of Investing in China". CNBC Daily Open: Markets rallied as Fed official renewed investors' hope for 25 basis-point hike https://t.co/Q5Ofm9iGOl — CNBC (@CNBC) March 3, 2023 The long-awaited update of the Ethereum network in Shanghai The eagerly awaited Shanghai Ethereum update, which will enable the withdrawal of staked ETH, is likely to happen in the first two weeks of April. Although the update was firmly scheduled for the March release, some Ethereum developers began to doubt it. Ethereum developers now plan to launch the Goerli testnet, essentially a comprehensive update dress rehearsal, in Shanghai around March 14. About a month later, if all goes smoothly, the actual Shanghai software update will go live in mid-April. LATEST: #Ethereum developers confirm Shanghai upgrade will likely occur in April instead of March. — CoinGecko (@coingecko) March 3, 2023
Analysis Of Price Movements Of Ripple Cryptocurrency

Analysis Of The Ripple Cryptocurrency Price Movement On Daily Chart

InstaForex Analysis InstaForex Analysis 03.03.2023 08:13
With the pending upward correction at the Bearish Fair value Gap level in the Ripple cryptocurrency on its daily chart as well as the price movement below EMA 10 and inside the channel that dives down also CI indicator succesfully breaks all three levels 100,0,-100 then it is confirmed that the Bearish bias stilll dominate on this Cryptocurrency. Nevertheless,even so in the near future there is a possibility for Ripple to correct upwards to the level of 0.3702 if the Bearish Orderblock level is strong enough then Ripple has the potential to continue its decline to the level of 0.3284 but if the upward correction continues to break above the level 0.3884 then there is a high probability of a bearish movement when this will be on hold for the next few days.   Relevance up to 04:00 2023-03-06 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/120561
Possible Scenario Of Polkadot Cryptocurrency Movement

Possible Scenario Of Polkadot Cryptocurrency Movement

InstaForex Analysis InstaForex Analysis 03.03.2023 08:16
If we look on the daily chart of Polkadot cryptocurrency, there is a few interesting facts: 1. There is a Bearish Wolve Waves pattern. 2. The appearance of Bearish 123 pattern followed by the appearance of Ross Hook (RH). 3. There is a deviation betweet Awesome Oscillator indicator with price movement. 4. Moving price movement below EMA 10. Based on the four facts above then We can conclude that Polkadot cryptocurrency is in Bearish condition and currently trying to test and breaks below the level of 5,5662. If this level successfully broken below then Polkadot will headed to ETA Line from Wolve Waves Pattern if the momentum and volatility support. As long as there is no sudden correction breaks above the level 7,0016 because if this level successfully broken above then it is very likely that the reduction scenario described above will be invalid and cancel by itself. (Disclaimer) Relevance up to 04:00 2023-03-06 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/120563
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

Bitcoin Remains More Than 65% Off Its All-Time High

Sebastian Seliga Sebastian Seliga 03.03.2023 08:26
Crypto Industry News: Despite the difficulties faced by the crypto industry in 2022 and the fact that Bitcoin remains more than 65% off its all-time high of $68,789, there is reason to be optimistic about the future of cryptocurrencies. The results of a recent study by Morning Consult can be optimistic. The survey found that 80% of American adults are frustrated with inequality in the financial system and believe it favors those with "powerful businesses", with 67% of respondents agreeing that the financial system needs major change or a complete overhaul, while only 4% say that no changes are needed. An online survey found that the most popular word associations with the global financial system were "expensive" (34%), "injustice" (30%) and "confusing" (30%). As perceptions of inequality increase, interest in engaging with the crypto ecosystem and owning cryptocurrencies has held steady, with 20% of American adults now owning at least one digital asset. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and after a short period of a horizontal trading inside a narrow range seen between the levels of $23,044 - $23,885 the bears spiked to the downside. The intraday technical support seen at the level of $23,114 and $22,775 will now act as the technical resistance as the low during the spike down was made at the level of $22,000. The market is now developing the corrective cycle and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $24,000 WR2 - $23,709 WR1 - $23,535 Weekly Pivot - $23,417 WS1 - $23,234 WS2 - $23, 126 WS3 - $22,835 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-04 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314788
A Hard Fork Can Raise The Ethereum Rate

The Bears Of Ethereum Has Manage To Push The Prices Towards The Key Short-Term Technical Support

Sebastian Seliga Sebastian Seliga 03.03.2023 08:29
Crypto Industry News: Silvergate Capital's shares fell almost in half today as the cryptocurrency bank delayed filing its annual (10K) report with the SEC. The report was due to appear in the Securities and Exchange Commission on March 16. Gary Gensler will definitely not be happy about this. The institution is still "assessing the impact of events" that have occurred since late 2022. The bank has informed investors that it may not survive the current financial turmoil. Its share price has fallen by more than 60% since the beginning of the year, despite the current wave of optimism on the stock exchanges and better moods of the cryptocurrency market itself. In February, the Department of Justice opened an investigation into Silvergate's dealings with FTX and its sister company Alameda Research. Given the growing (and costly) regulatory challenges and likely investigations by regulators, as well as business challenges (exacerbated liquidity challenges amid a crisis of confidence from customers affected by recent crypto events), the company is reassessing its business and strategy. Silvergate said it has reviewed the sale of investment securities to raise funding and is examining the impact that subsequent events may have on its ability to continue as a going concern. Preliminary unaudited financial results for 2022, filed on January 17, include a net loss of $948.7 million, compared to a net profit of $75.5 million in 2021. Silvergate's net loss in 2022 is now close to 450% higher than its total market capitalization. The company has faced many challenges since late last year, after the collapse of the FTX exchange. JPMorgan bank analysts downgraded Silvergate along with a number of other Wall Street institutions. Technical Market Outlook: The ETH/USD pair has reversed from the level of $1,677 after three wave up move had been terminated with a Shooting Star candlestick pattern on H4 time frame chart. The bears has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,672 WR2 - $1,654 WR1 - $1,642 Weekly Pivot - $1,635 WS1 - $1,624 WS2 - $1,616 WS3 - $1,581 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-04 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314790
Rates Spark: Escalating into a Rout as Bond Bear Steepening Accelerates

Stock Market Summary Of The Week 27.02-3.03.2023

Conotoxia Comments Conotoxia Comments 05.03.2023 09:17
There were a number of significant developments in the markets this week, including surprising inflation readings, declines in the cryptocurrency market and hopes for China's industry, which posted its best performance in more than a decade. In addition, many other events took place in the financial markets. What else could we have learned? Macroeconomic data We began our macroeconomic data with Monday's reading of home sales under construction for January in the United States, which rose by as much as 8.1% m/m. (1% m/m was expected). This is the highest reading since September 2020. Could this mean that, despite high interest rates, the property market is starting to recover for this economy? We started Tuesday with the publication of the US CB Consumer Confidence index. The reading fell short of expectations, coming in at 102.9 (108.5 was expected). On the same day, we learned about the PMI Industrial Sentiment Index for the Chinese economy, which positively beat expectations, coming in at 52.6 (50.5 was expected). This is the highest reading for this economy in more than 10 years! The ChinaH index rose by almost 5% this week. Source: Conotoxia MT5, CHINAH, Daily Wednesday brought us data from Germany, such as the PMI industrial business sentiment index, which came in at 46.3 points (46.5 points were expected). In addition, we learned about the CPI inflation reading for February, which came in at 8.7% (8.7% was expected). However, it appears that despite further interest rate increases in the euro area, inflation does not want to fall. The US manufacturing PMI came in slightly worse than analysts' consensus, at 47.7 points (48 points expected). Thursday seemed to be crucial for this week. First, we had a look at inflation in the euro area, which, like inflation in Germany, surprised negatively. It turned out to be higher than expected at 8.5% (8.2% was expected). On the same day, we learnt the reading of new claims for unemployment benefits in the United States, which came in at 190,000 (195,000 was expected). It seems that the labour market remains as strong as ever for this economy. The stock market A large proportion of sectors ended the week on declines. The largest declines of at least 2% included the utilities sector and the retail services sector. The largest increases of 3.4% came from the materials sector. In second place was the industrial companies sector with an increase of 1.66%. Source: https://www.sectorspdr.com/sectorspdr/tools/sector-tracker The companies that had the biggest changes during the week were Tesla's (Tesla) shares down more than 5%, the shares of online short-term rental platform Booking.com (Booking) up more than 6%, or rail holding company Union Pacific Corporation, which rose almost 10%. Source: https://finviz.com/map.ashx?t=sec&st=w1 Currency and cryptocurrency market The US dollar has been weakening in the foreign exchange market against other currencies, with the EUR/USD pair rising by 0.6%. This may be linked to expectations of an interest rate increase in the euro area due to higher-than-expected inflation. The only one of the major pairs to rise during the week is the New Zealand dollar pair against the US dollar. Source: Conotoxia MT5, EURUSD, Daily At the end of the week we saw declines in the cryptocurrency market. The price of bitcoin fell by almost 4% during the week. It seems that this may be related to the so-called Silvergate, the bank that disconnected the ability to make transfers for one of the largest cryptocurrency exchanges Coinbase. Additionally, as is the case every week, investors can look forward to an influx of fresh funds into this market, which could be measured by, among other things, stablecoin capitalisation, which is down by as much as 2.1% m/m. Source: Conotoxia MT5, BTCUSD, Daily Grzegorz Dróżdż, Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Discontinuation Of The Silvergate Exchange Network, What Does It Mean To Burn Crypto?

Discontinuation Of The Silvergate Exchange Network, What Does It Mean To Burn Crypto?

Kamila Szypuła Kamila Szypuła 05.03.2023 10:33
The constant development and increase in popularity of the cryptocurrency market causes many changes. Changes in the cryptocurrency market appear as quickly as they disappear. In this article: The end of Silvergate Exchange Network A bad manager Burning cryptocurrencies The end of Silvergate Exchange Network Silvergate Exchange Network, one of the bank's most popular offerings, enabled 24/7 transfers between investors and crypto exchanges, unlike traditional wire transfers, which can often take days to clear. Silvergate Capital Corp said on Friday it had made a risk-based decision to discontinue the Silvergate Exchange Network, two days after the digital asset-focused bank expressed doubts about its viability. Coinbase Global Inc and Galaxy Digital have dropped Silvergate as their banking partner. Stablecoin issuers Paxos and Circle, digital asset exchange Cboe, and cryptocurrency exchanges Bitstamp and Gemini have also suspended cooperation with Silvergate. Bitcoin and other cryptocurrencies plummeted, one day after a crisis arose around Silvergate Capital, one of the most influential banks in the digital asset industry https://t.co/pYGv8ZKSA3 pic.twitter.com/sQ30lzXs83 — Reuters Business (@ReutersBiz) March 5, 2023 A bad manager Many factors influence whether we want to work in a given company or not. The main factor is earnings, then working conditions and the composition of the team is also included in the working conditions. A Gallup survey of over 7,000 American adults found that 50 percent of people leave their jobs to get away from their boss to improve their overall life at some point in their careers. The same study found that for most employees, managers fail at developing their employees' strengths, providing consistent feedback, and setting clear performance goals. Many employees have been in this situation before: the projects are addictive and the co-workers are great, but the relationship with the boss makes you miss 5:00 So what behaviors of managers evoke the greatest ire of employees? The cardinal sin, according to their subordinates, is playing favorites. Staff were also keen to leave the bullying to the schoolyard. Bosses who informally threatened to fire employees were deemed as bad as those who chose favorites Bosses who exploit their position for monetary or sexual rewards are also highly disliked. 50% of people have quit because of a bad manager — here are the 10 boss behaviors workers hate most. (via @CNBCMakeIt) https://t.co/CzK6SO9buT — CNBC (@CNBC) March 5, 2023 Burning cryptocurrencies The cryptocurrency market is evolving and with it new methods and concepts will appear. Burning cryptocurrencies involves destroying project tokens or coins by sending them to the burning address. Destroyed tokens are usually removed from circulation and cannot be used or traded in the future. There are different ways to burn tokens, depending on the project's technology and community decisions. Burning tokens can increase the value of a cryptocurrency by reducing the supply of tokens in circulation. In general, when there are fewer tokens in circulation and the demand remains the same, the price per token is likely to increase. This is one of many reasons, but it may be the main one. Token burning is a popular mechanism used by cryptocurrencies to manage their supply and increase their value. The process consists in permanently removing part of the cryptocurrency tokens from circulation. While burning coins can have several advantages, including reducing inflation and increasing the value of the remaining tokens, it also has its disadvantages, such as permanently deleting assets and needing multiple tokens to make an impact. What does it mean to burn #crypto? 🔥 Here's a beginner-friendly guide on how it works, the pros and cons of burning tokens, and examples of token burns ⤵️https://t.co/3aUay2yFZ3 — CoinGecko (@coingecko) March 5, 2023
The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

The Bitcoin Market Is Now Developing The Corrective Cycle To The Downside

Sebastian Seliga Sebastian Seliga 06.03.2023 09:12
Crypto Industry News: The recently launched internal digital currency of the Indian Central Bank (CBDC) - digital rupee - is currently being tested for offline functionality, revealed by Ajay Kumar Choudhary, executive director of Reserve Bank of India (RBI). RBI - Reserve Bank of India and regulatory body - launched on November 1, 2022, piloting wholesale segment for a digital rupee, introducing 50,000 users and 5,000 sellers for testing in the real world. As at February 25, about $ 134 million and 800,000 transactions were carried out via wholesale CBDC. Based on this progress, Choudhary said that RBI was looking at the functionality of offline CBDC. In an interview with CNBC TV18, he stated that RBI was assessing the potential of CBDC in the field of cross -border transactions and connections with older systems in other countries. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and after a short period of a horizontal trading inside a narrow range seen between the levels of $23,044 - $23,885 the bears spiked to the downside. The same situation seems to be continued currently as the market is trading inside a narrow zone again. The intraday technical support is seen at the level of $22,166 and $22,000. The market is now developing the corrective cycle to the downside and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-07 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314986
Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Sebastian Seliga Sebastian Seliga 06.03.2023 09:15
Crypto Industry News: Supported by Warren Buffett Nubank based in Brazil, he announced the introduction of Nucoin's own cryptocurrency. The token, which is issued in the Polygon network, will be handed over to customers of institutions as part of Airdrop. According to media reports, Nucoin will be one of the foundations of the Cashback program, in which users will receive prizes in the form of tokens. In addition, the bank's internal lottery will also be used, which will also use the token. Importantly, Nucoin will not go to the cryptocurrency exchange, because all transactions concluded with it will only be available on the Nubank platform. It is not known how much the initial price of the token will be - as long as it is set at all. According to the media, Nubank will not stop at the activities listed above. He also examines other options for using cryptocurrencies, including staking programs that will allow clients to block their Nucoins to receive more units at a certain time or get more fate for a bank lottery. Apparently, in the future there will also be an option to replace Nucoins with cash via the platform. Technical Market Outlook: The bears on the Ethereum market has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. THe market has been seen trading horizontally since then, however no major spike up was made yet. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-07 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/314988
There Are Many Ways To Join A Crypto Community

Different Scaling Solutions Of Crypto: Optimistic And Zk Rollups

Binance Academy Binance Academy 06.03.2023 11:36
TL;DR The increasing popularity of crypto and blockchain has led to developers seeking a way to scale by improving a system’s ability to accommodate the growing demand. Sharding, sidechains, state channels, and rollups are some approaches to scaling. Blockchain rollups offload certain transaction processes to a secondary chain while storing transaction data on the main Layer 1 blockchain. In this article, we explore the two types of rollups in the crypto space – optimistic and zero-knowledge. Introduction Due to rising crypto demand, some blockchains’ abilities are tested to their limits. This could lead to network congestion and expensive transaction costs. To address this, scaling solutions are being developed and tested to increase transaction throughput and speed. Such solutions can be categorized into two groups: Layer 1 and Layer 2. Layer 1 scaling solutions like sharding make changes directly to the main blockchain (also known as a base or Layer 1 blockchain). Layer 2 scaling solutions run on top of a Layer 1 blockchain. Examples of Layer 2 scaling solutions include state channels, sidechains, and blockchain rollups. Blockchain rollups are protocols designed to enable high throughput and lower costs. They aim to fix the problem many popular blockchains face by bundling transactions and reducing data size for more efficient transaction processing and storage. Learn more on Binance.com What Are Blockchain Rollups? Rollups are a Layer 2 solution that bundles up transaction data and transfers it off the main chain (or Layer 1 blockchain). Transaction execution is then performed off-chain, while assets are held in an on-chain smart contract. The transaction data will be sent back to the main blockchain upon completion. Theoretically, any Layer 1 solution can implement rollups to increase transaction efficiency in terms of throughput. With rollups, a blockchain can increase the number of transactions processed and recorded within a certain timeframe. Presently, there are two types of rollups – optimistic rollups and zero-knowledge (zk) rollups. What Is an Optimistic Rollup? Optimistic rollups are protocols that increase transaction output by bundling multiple transactions into batches, which are processed off-chain. After that, the transaction data is recorded on the main chain with data compression techniques that help lower cost and increase speed. According to Ethereum, optimistic rollups can improve scalability by 10 to 100 times. How do optimistic rollups validate transactions? Transactions are valid by default to increase efficiency. You may wonder if this would compromise security in favor of transaction processing speeds. However, optimistic rollups use a fraud-proving scheme, with a dispute-resolution period known as a ‘challenge period.’ Within this period, anyone monitoring the rollup can submit a challenge to verify if the transaction has been processed accurately through a fraud proof. If that batch is found to have errors, the rollup protocol will rectify them by re-executing the wrong transaction(s) and updating the block. Parties who approve incorrect transactions for execution will be penalized. Limitations of optimistic rollups While there isn’t a transaction validation process, there is a challenge period that zk rollups do not have, which increases the time taken for transactions to be finalized. The finality of chains with optimistic rollups is also lower than that of zk rollups. Finality is the measure of how long a user has to wait for a reasonable guarantee that the transactions will not be reversed or altered. Withdrawals on optimistic rollups are delayed as the challenge period needs to lapse before funds can be released. In contrast, withdrawals from zk rollup take effect as soon as the zk rollup smart contract verifies the validity proof. Some people also view optimistic rollups as less efficient than zk rollups. With optimistic rollups, all transaction data must be posted on-chain to finalize transactions. With the zk counterparts, only validity proofs are required on-chain. What Is a Zero-Knowledge (zk) Rollup? Zero-knowledge rollups are protocols that bundle transactions into batches to be executed off the main chain. For every batch, a zk rollup operator will submit a summary of the required changes once the transactions in the batch have been executed. Operators have an additional role in producing validity proofs to prove that the changes are accurate. These proofs are significantly smaller than transaction data; therefore verifying them is quicker and cheaper. On Ethereum, zk rollups reduce transaction data via compression techniques when writing transactions to Ethereum as calldata, effectively reducing user fees. How do zk rollups validate transactions? Zk rollups use zero-knowledge proofs (ZKP) to validate transactions. ZKPs are used by someone called a prover who wants to convince another party, known as a verifier, that they possess knowledge, thereby verifying a transaction. This is how it works: The prover provides a mathematical proof that only they can generate. The verifier uses this mathematical proof to verify the validity of the transaction. The information can receive validity proof without revealing the contents to the verifier. Benefits of zk rollups Zk rollups can offer a high level of security for users if implemented properly. One key feature contributing to this security is the use of zero-knowledge validity proofs. They ensure that the network can only function in a valid state and that operators cannot steal user funds or corrupt the system in any way. Another benefit of zk rollups is that users don't need to monitor the network. Zk rollups store all data on-chain and require validity proofs. Therefore an operator can't cheat, and users don't have to worry about network misbehavior. Additionally, zk rollups let users withdraw their funds onto the mainnet without having to cooperate with operators by proving token ownership via data availability. Similar to optimistic rollups, zk rollups also implement an off-chain execution mechanism to increase transaction execution speeds. Differences Between zk Rollups and Optimistic Rollups Below is a summary of the differences between optimistic and zk rollups. What’s the Future of Zero-knowledge & Optimistic Rollups? The future of zero-knowledge and optimistic rollups is still a question mark. As more people adopt crypto and blockchain, rollups may play a vital role in improving blockchain efficiency. Blockchains will likely continue to test various scaling solutions, including sharding, rollups, and layer 0. We could also see new solutions being created and implemented, either along with or instead of rollups. Closing Thoughts Since the demand for crypto has increased and stretched the limits of current blockchains, many have proposed different scaling solutions. In this article, we examined the inherent differences between two varieties of rollups, optimistic and zk rollups. As rollups continue being battle-tested, we may eventually see a superior variety that could help us reach scalability for mass adoption. Further Reading Blockchain Layer 1 vs. Layer 2 Scaling Solutions zk-SNARKs and zk-STARKs Explained What Is Zero-knowledge Proof and How Does It Impact Blockchain? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. Not financial advice
Bitcoin needs to stay above $29k by the end of today's trading session to strengthen its positions and continue moving towards $30k says InstaForex's Petrenko

The Bitcoin Market Is Now Developing The Corrective Cycle

Sebastian Seliga Sebastian Seliga 07.03.2023 08:26
Crypto Industry News: On March 3, the Wall Street Journal (WSJ) published an article attacking Tether. Journalists allegedly found e-mails and documents which show that the USDT issuer has ties to entities from China that sent the company false invoices and used shell companies (so-called "artificial intermediaries"). What is it actually about? The WSJ article describes some transactions conducted by Tether and the related exchange Bitfinex, which were supposed to give Chinese companies access to bank addresses. As written in the report, these entities would not be able to access a bank account on their own. Tether and Bitfinex were also supposed to help them bypass various controls by the banking sector. Moreover, the report stated that these companies were allegedly cooperating with terrorist organizations on behalf of which money was laundered. In addition, citing a person familiar with the case, the Wall Street Journal wrote that Tether is under investigation by the U.S. Department of Justice. However, no information was given as to what the investigation is about. The company did not have to wait long for a response from its side. On the same day, an official statement on the report was published on her blog, accusing them of dishonest practices. Tether described the reports about itself as "outdated allegations from the old days" and "totally inaccurate and misleading". "Bitfinex and Tether have world-class compliance programs and adhere to applicable anti-money laundering, customer awareness and terrorist financing legal requirements." It also said Tether is a "proud" law enforcement associate and "routinely and voluntarily" assists authorities in the United States and abroad in all efforts to combat illegal practices. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885), reversed lower and after a short period of a horizontal trading inside a narrow range seen between the levels of $23,044 - $23,885 the bears spiked to the downside. The same situation seems to be continued currently as the market is trading inside a narrow zone again. The intraday technical support is seen at the level of $22,166 and $22,000. The market is now developing the corrective cycle to the downside and the weak and negative momentum on the H4 time frame chart supports the short-term bearish outlook. Traders await the breakout to get more clues about the next BTC move. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-08 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315148
A Hard Fork Can Raise The Ethereum Rate

A Hard Fork Can Raise The Ethereum Rate

Sebastian Seliga Sebastian Seliga 07.03.2023 08:29
Crypto Industry News: There is just over a month left until the ETH Shanghai update, so you can expect more investor movements on this cryptocurrency. Some Ethereum holders may want to sell their crypto while others are getting ready to buy with increased turnover. There are voices that a hard fork can raise the ETH rate, but there must still be a favorable atmosphere on the broad market. Sleeping whale - the holder of 10,266 pieces of Ethereum moved them from his wallet at Circle Internet Financial and began transferring them to other wallets, including exchanges. This situation has not gone unnoticed by careful researchers. According to a blockchain explorer, the whale's ported wallet was mined in 2017. The whale also sent 1322 ETH to the cryptocurrency exchange. As a result of Silvergate's problems, the price of Ethereum, the second largest cryptocurrency, is under strong selling pressure. Investors are wary of re-entering the market after Silvergate's recent papers raised the specter of the company's collapse. Technical Market Outlook: The bears on the Ethereum market has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. The market has been seen trading horizontally since then, however no major spike up was made yet. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-08 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315150
All Eyes On Capitol Hill, Jerome Powell Will Appear Before The Senate Banking Committee

All Eyes On Capitol Hill, Jerome Powell Will Appear Before The Senate Banking Committee

Kenny Fisher Kenny Fisher 07.03.2023 10:56
It’s shaping up to be another relatively flat day in the markets as investors turn their attention to Capitol Hill ahead of Jerome Powell’s first testimony. The Fed Chair will appear before the Senate Banking Committee later today to testify on the semi-annual monetary policy report. These events naturally attract a lot of attention but the reality is the Chair’s performance is usually quite polished and uncontroversial, and the occasion itself can drag on and frequently venture away from topic. In other words, we shouldn’t assume we’re about to get fireworks from Powell. What may make this occasion different is the fact that there’s so much uncertainty around the outlook for interest rates and inflation. While the Fed has maintained that rate hikes must continue, the economic data from January has forced markets to adjust to that reality too so there’s every chance we get a hawkish offensive from Powell. Considering the likelihood of the January data being a blip rather than a trend, I think it would probably be wiser for Powell to maintain his previous tone as he may risk spooking the markets but if the FOMC truly is weighing up a 50 basis point hike this month, this would be a good opportunity to lay the groundwork for it. Nearing the end The RBA appeared to soften its tone once more after hiking rates by another 25 basis points today. The central bank is now of the opinion that inflation has peaked and so multiple rate hikes may no longer be the base case. That said, the RBA will decide meeting by meeting and a lot can change in between. Markets are now pricing in at least one more hike in the cycle and maybe two. The Australian dollar is a little lower on the day as the decision was perceived to be a dovish hike. Some promising signs Chinese trade data highlighted some modest improvements but remain quite weak overall. The drop in imports can possibly be attributed to some one-off factors including Covid exit waves and the Lunar New Year and the data will surely improve over the coming months as the economy returns to normal. Exports remained under pressure, although the number was better than expected, indicating still soft global demand which aligns with what we’ve seen recently elsewhere. Hanging on in there Bitcoin has been in consolidation since Friday’s sell-off with traders seemingly fearful of further ripple effects but still willing to hang on for now just in case. It’s been a fantastic year for crypto so far but events late last week were a quick reminder of the challenges facing the industry in the short term and the consequences of that. There’ll also be an eye on Powell’s testimony today as it may influence overall risk appetite in the markets. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
DPX Token Registered A 24-Hour Return Of 11.11%

The Twelvefold Collection Collected A Total Of 3,246 Bids During The 24-Hour Auction, More Frequent Reporting On The Flow Of Money To And From Israel

Kamila Szypuła Kamila Szypuła 07.03.2023 11:30
A large sale of the collection is an important event for the NFT market. Further banking regulations are also being observed. In this article: China The flow of money Banking and inflation The TwelveFold China At the National People's Congress on Sunday, the Chinese government announced a goal of "around 5%" gross domestic product growth in 2023 - the lowest level in more than three decades and below the 5.5% expected by economists. The administration also proposed a modest increase in fiscal support for the economy. President Xi Jinping and other officials have targeted the West for limiting China's growth prospects as relations between Beijing and Washington continue to deteriorate. Beijing is well aware that the U.S. will look to curtail its global influence by growing the “technology gap”. Negative reactions and further investment restrictions are therefore likely, at least from the US. How China's shifting growth picture could hit global markets https://t.co/isZYv12CJp — CNBC (@CNBC) March 7, 2023 The flow of money The Bank of Israel has instructed local banks to report more frequently about the flow of money into and out of Israel. The new directive comes at a time of instability in the Israeli shekel. Analysts have linked the results of the shekel to uncertainty over Prime Minister Benjamin Netanyahu's plan to change Israel's judicial system. Critics of the changes say Netanyahu is taking steps that will damage Israel's democratic checks and balances, enable corruption and lead to diplomatic isolation. The Bank of Israel has instructed local banks to report more frequently on the movement of money in and out of Israel, a central bank spokesperson said. More here: https://t.co/PoOluu5MI5 — Reuters Business (@ReutersBiz) March 7, 2023 Banking and inflation These are difficult times for central bankers. The increase in inflation in 2021 took many central banks by surprise. The challenges would have been much tougher had it not been for the significant improvements in central banking over the past three decades - in particular, advances in what is known as the inflation target. Under the inflation target, central banks make a clear commitment to a long-term inflation target and strive to achieve it by changing the interest rate policy that they control. Raising interest rates, such as what central banks are doing now, tends to bring down inflation by reducing spending on housing and other interest rate sensitive goods. Former Swedish central banker @leosven led the inflation-targeting revolution. Read a profile of him in the latest F&D. https://t.co/cGsIdEteS2 pic.twitter.com/xNC7MZNnj0 — IMF (@IMFNews) March 7, 2023 The TwelveFold The high-profile and controversial auction of Yuga Labs' debut Bitcoin NFT collection ended on Monday. The TwelveFold collection collected a total of 3,246 bids during the 24-hour auction that began on Sunday. Of these, the highest bid was 7.1159 BTC, or around $159,500. The lowest successful bid was 2.2501 BTC, which is just over $50,000. Yuga, the $4 billion company behind Bored Ape Yacht Club's dominant collection of NFTs, previously only hosted NFTs on the Ethereum blockchain. NEWS: @yugalabs' auction of its debut #Bitcoin NFT collection, TwelveFold, raises $16.5M with 288 successful bidders.📰 https://t.co/iJVTndsYGj pic.twitter.com/eK4keX4e6j — CoinGecko (@coingecko) March 7, 2023
Is Gold Ready to Shine Again? US CPI and Fed Policy Insights

Gold Is Consolidating As Investors Await Any Signs Over How Much More Restrictive Fed Policy Will Become

Ed Moya Ed Moya 07.03.2023 14:20
US stocks are slightly higher ahead of Fed Chair Powell’s Congressional testimony.  Everyone is expecting Fed Chair Powell to deliver his best hits of ‘we have more work to do’ and ‘higher for longer’.  Powell might not commit how much higher rates will go, but he will keep the door open for the Fed’s dot plots to move higher.  Lawmakers will argue that we don’t need to see a recession to bring inflation back to target.  Powell will likely signal that Americans could see economic pain later this year. Powell will most likely stay hawkish given how high inflation remains and the strength of the labor market.    Biden This week, Wall Street is expecting to get President Biden’s budget proposal for fiscal 2024. This morning, President Biden’s op-ed in the NY Times gave a sample of what he will be proposing.  He noted that, “my budget proposes to increase the Medicare tax rate on earned and unearned income above $400,000 to 5% from 3.8%.” He is aiming to keep the Medicare trust fund solvent beyond 2050.  This is just the beginning of budget negotiations as House Republicans will not get on board with this first pitch.  RBA The RBA did not surprise after raising its cash rate target by 25bps to 3.60%.  The RBA is nearing the end of its tightening cycle as they removed the language about hikes in the coming months. Australia doesn’t have the same wage pressures that the US has and that is why they believe inflation has peaked and that further hikes will be data dependent.  The RBA’s dovish hike sent the Australian dollar lower by 0.9% against the US dollar.  EUR After a day to digest ECB’s Holzmann case for four half-point rises, ECB hike odds continue to rise. It looks like no one wants to listen to doves, especially considering we keep seeing core CPI make fresh record highs.  Holzmann argued for 50bps point rises in March, May, June and July, with restrictive policy starting at 4.00%.  Nomura bumped up their ECB forecast from 3.50% to 4.25%.  Earlier in the week, Morgan Stanley increased their ECB forecast to 4.00%.  Dovish ECB member Lane argued against having policy on ‘autopilot’, emphasizing that it should not be on autopilot, but stay data dependent.     The euro could see some support once we get beyond Fed Chair Powell’s testimony and Friday’s nonfarm payroll report.  Oil Crude prices are wavering ahead of Fed Chair Powell’s testimony to the US Senate. Oil has had a nice start to the month, but lingering demand concerns and further oil inventory increases should cap this rebound.  Oil looks like it might need to trade in a range a little longer until we have a clearer outlook for the US economy.  The debate over what type of recession will hit the US economy will not be answered in a couple of months time, so we might see conservative calls for demand to remain healthy over the short-term.  In the event, risk appetite runs wild following Fed Chair Powell’s Senate appearance, WTI crude should find major resistance at the $84.80 region.  Gold Ahead of Fed Chair Powell’s testimony to the Senate, gold is consolidating as investors await any signs over how much more restrictive Fed policy will become.  A strong bullish argument for holding bullion could be made as global central banks are growing confident peak tightening will soon be in place.  The RBA rate decision provided optimism that inflation may have peaked and that further tightening might not be needed if disinflation trends remain firmly in place.  Gold might benefit if the rest of the major central banks start delivering dovish hikes. Also providing a boost for gold is the steady demand it is seeing from China.  This current macro environment should lead to stronger central bank buying.  The focus for many is the steady buying by the PBOC and if the weaker dollar trade unfolds later this year, gold could shine.  Bitcoin Bitcoin remains anchored despite a potential weekly death cross pattern.  Bitcoin had a great start to the year, but since the middle of February prices have gradually softened.  Contagion risks from Silvergate Capital and hard landing fears are keeping cryptos heavy, but the key trading range of $21,000 to $25,500 continues to hold up.  Crypto traders are closely watching the bond market and if yields refuse to breakout higher, Bitcoin may remain in this trading range.    This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.  
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

The President Of El Salvador Continues To Promote Bitcoin

Sebastian Seliga Sebastian Seliga 08.03.2023 09:20
Crypto Industry News: The president of El Salvador, Nayib Bukele, continues to promote bitcoin. During a recent conversation with the media, he pointed out that the country's tourism has benefited greatly from his pro-bitcoin policy. He pointed out that since the recognition of BTC as a means of payment, the tourism industry in his country has grown by as much as 95%. When in 2021 the authorities of El Salvador recognized bitcoin as a means of payment, this decision caused a lot of controversy. Many "old-fashioned" economists predicted that this move would bring the country to the brink of collapse. In the streets of the capital, the left, generally hostile to Bukele's politics, protested. Even in mainstream Polish media one could hear that this idea would only strengthen local mafias. Today we know that government policy has led to the development of the ATM network and the start of the Bitcoin City project. In principle, Bukele and his people want to bring experts from the blockchain technology market to El Salvador and set up a regional center for this industry. Bukele told the media that around the world, "there are many bitcoin fans who want to come to a country where BTC is legal tender." He added that in El Salvador there are organized cryptocurrency conferences. In addition, bitcoin helped El Salvador improve its image. The country was often perceived as a dangerous place, ruled by criminal groups. Now more and more people talk about it when mentioning technological innovations. The increased adoption of bitcoin has yet another background. Blockchain makes it easier to transfer funds. Money sent from abroad accounts for as much as 20 percent. GDP of the whole country. Some families function only because they receive foreign transfers from relatives. It is often as high as 60% household income. Technical Market Outlook: The BTC/USD pair has failed to break above the 50 MA on H4 time frame chart ($23,885) and reversed lower towards the key technical support seen at the level of $21,429 (13th Feb low). The intraday technical resistance is seen at the level of $22,000. The bears move inside the descending channel on the H4 time frame chart and the weak and negative momentum helps the bears to push the prices lower. The negative bearish divergence on the daily time frame chart between the price and the momentum oscillator supports the bearish outlook for BTC in the coming days. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-03-09 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315316
An Investigation Against Terraform Labs In Singapore

An Investigation Against Terraform Labs In Singapore

Sebastian Seliga Sebastian Seliga 08.03.2023 09:24
Crypto Industry News: Law enforcement in Singapore has reportedly launched an investigation against Terraform Labs, co-founded by Do Kwon. The authorities also estimated that the 31-year-old developer is not hiding in the country. The collapse of the native token LUNA and its algorithmic stablecoin UST was one of the "darkest" events in crypto last year. The stablecoin, which was supposed to have a fixed price of $1, lost its exchange rate against the dollar in May 2022 and fell well below its target value. Realizing the turmoil, investors began selling their UST reserves. This resulted in the minting of more LUNAs to stabilize the free fall, greatly increasing the supply of the native coin. In the end, both assets lost virtually all of their value in a matter of days, resulting in multi-billion dollar losses for investors and a wide market decline that echoed for months. Affected investors and numerous institutions accused Do Kwon, co-founder of Terraform Labs, of complicity in the collapse. However, he was uncooperative and allegedly left South Korea to avoid the consequences of the alleged fraud. Technical Market Outlook: The bears on the Ethereum market has manage to push the prices towards the key short-term technical support seen at the level of $1,558 and made the new local low at the level of $1,542. The market has been seen trading horizontally since then, but the bearish pressure is increasing and traders might see the breakout soon. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-03-09 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315318
There Are Many Ways To Join A Crypto Community

According To The StablecoinPrinter Virtually No New Major Stablecoins Were Created In February This Year

Conotoxia Comments Conotoxia Comments 08.03.2023 10:26
From intensified SEC action against the cryptocurrency market, to declines in the value of bitcoin and other digital currencies, to the troubles of the long-struggling Silvergate bank, which has a significant share of the cryptocurrency market, a lot has happened in the digital currency market since the beginning of this year. We take a look at the current situation in this market based on the data. Declining dependence of bitcoin on the market Since the beginning of the year, the S&P 500 Index (US500) has posted a 5.8% return, while the value of bitcoin has risen by 34%. Historically, the level of correlation between bitcoin and the stock market was around 0.6 (R^2=36%), indicating a relatively significant relationship. However, since the beginning of the year, the correlation between the two assets has dropped sharply to 0.31 (R^2=9.6%). This may indicate a decoupling of the cryptocurrency market from the ups and downs of the broad equity market. Source: Conotoxia MT5, US500, Daily The average correlation of the 70 largest cryptocurrencies with bitcoin was 0.64 (R^2=41%), which would mean that the majority of this market is still dependent on the situation on just this one cryptocurrency. Nonetheless, an investment in altcoins would have yielded an average return of 41.2% (7.2 percentage points higher) and as many as 89% of them achieved a positive return during this time. The average annual symmetric risk, as measured by the standard deviation, for the period under review in the cryptocurrency market was 14.44%. For bitcoin, it was slightly lower at 12%. Volatility in this market seems to have returned, as the standard deviation for the stock market was only 2.3%. Which means that the average volatility in the digital currency market is now more than 5 times that of the stock market, which may prove more attractive to active investors. Further outflows of funds from the cryptocurrency market The size of the monetary base, as measured by stablecoin capitalisation, seems to have played a key role in consolidating the upward trend. Unfortunately, their volume seems to be steadily declining month by month. According to the StablecoinPrinter website on Twitter, virtually no new major stablecoins were created in February this year. The capitalisation of this entire market fell by 25% y/y. and by 2.4% m/m. It seems that it might be hard to see growth in this market without an influx of fresh capital. Source: https://btctools.io/stats/market-cap Despite the increase in SEC scrutiny of the cryptocurrency industry, there have been no immediate outflows of funds from the largest proof-of-stake cryptocurrency, Ethereum. This could  be seen in the level of network performance (hashrate), which has remained stable, indicating that there are still a large number of users using the Ethereum network. Nonetheless, it is worth noting the growing regulatory risks that may affect the future movements of cryptocurrency investors and users. Analysis of emotions Emotions such as anger and fear are currently prevalent among investors, according to Sentistock, a company that studies emotions in the cryptocurrency market based on social media posts. The company's artificial intelligence, used to forecast bitcoin prices in the near future, predicts an average price of US$22624 for the next 24 hours, 1.1% above current levels. Source: https://sentistocks.com/predictions/ Grzegorz Dróżdż, Market Analyst of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Yield Farming Can Be A Viable Passive Income Strategy

Binance Academy Binance Academy 08.03.2023 10:34
TL;DR Yield farming is the practice of using one’s crypto assets to generate passive income or yield. It typically involves providing liquidity to DeFi protocols, or lending or staking crypto assets in exchange for rewards. Some yield farmers use all of them simultaneously. As with all crypto opportunities, yield farming is not without its risks. Impermanent loss, bugs in smart contracts or protocols, and exorbitant gas fees are some risks yield farmers face. Hence, yield farmers must do thorough research before committing their funds to a yield farm. Some common ways to do so include investigating the team, security, type of token, and timeline associated with the investment. While DYOR (doing your own research) cannot entirely prevent crypto losses, it can help to mitigate risks. Learn more on Binance.com Introduction In its simplest form, yield farming uses idle crypto assets to earn crypto interest. Through smart contracts, owners can lend their crypto to others and receive rewards in return. Within the decentralized finance (DeFi) ecosystem, there are a few ways to generate yield from crypto, the most common ones being: Lending assets using a crypto lending protocol. Staking cryptocurrency on a protocol. Becoming a liquidity provider (LP) for a DeFi protocol (e.g. decentralized exchange (DEX)) and receiving LP rewards (see LP tokens). Many yield farmers use one or more of the above methods to build a passive income stream. Like other DeFi opportunities, however, yield farming has its risks. Whether you intend to become a yield farmer or are just interested in its mechanics, it's good to do your due diligence. The Risks of Yield Farming Impermanent loss Probably the most prominent risk in yield farming and the DeFi space in general is impermanent loss. When crypto owners participate in yield farming, they often lock up their crypto for a specified period, making those assets relatively illiquid. Impermanent loss occurs when the price of your tokens changes from the price at which you deposited them into the pool. The bigger the change, the bigger the loss, regardless of the price's direction.   Although yield farming fees earned may help offset the loss, this is not always the case and can present a major risk. If you want to learn more, read our in-depth explanation of impermanent loss. Hacks Smart contracts control DeFi protocols and a single bug in the smart contract code could cause the value of a token to plummet to zero. This risk is compounded by the fact that a malicious hacker could exploit the bug or security issue to manipulate the project.  Scams Someone with bad intentions and the right skillset can create a DeFi platform and pass it off as a legitimate yield farming site.  After all, DeFi projects are open-source, transparent, and permissionless, meaning anyone can copy the underlying code and create a new project. While early adopters are typically rewarded more handsomely, think twice before doing so, as high rewards come with high risks. Newly launched yield farming platforms may be harder to research as user reviews and information on them tend to be limited. Be especially cautious with such platforms as you may be unable to withdraw your deposited funds or claim your rewards even if you change your mind after committing to such a platform. High gas fees When a network is congested, it usually leads to a rise in gas fees. Such unprecedented spikes affect yield farmers with less funds, as gas fees can eat into their earned fees. Even if they choose to leave their assets in the pool, other risks like impermanent loss and liquidation may still affect them. Common Ways to DYOR Security Ensuring the security of yield farming and DeFi protocols is critical in preventing malicious attacks. To reduce the risk of such attacks, it is essential to ascertain that a reputable source has audited the smart contract code. Look for DeFi projects that have had their smart contracts thoroughly audited. Countless DeFi projects start by forking from successful DeFi protocols such as UniSwap. However, many fail due to network effects or a lack of liquidity, among other reasons. Worse, some are even deliberately created as scams. For example, a fraudulent team may create a fork, try to attract liquidity to it, then disappear with the newly acquired tokens. It is also important to know the Total Value Locked (TVL) in the project, which is the total amount currently locked in the protocol. If the TVL seems suspiciously low, it's an indicator that even less capital is locked up in the protocol, which in turn means less yield for farmers. Token Different pools offer different opportunities for various assets, including stablecoins and blue-chip tokens (i.e., tokens from established blockchain projects such as Bitcoin and Ethereum). Protocols can also distribute their own tokens to stakers and liquidity providers. It's essential to remember that a protocol can bind its token to its services in several ways. For instance, it may use the token as a marketing tactic to attract more users. Therefore, always be sure of what token you’ll receive from yield farming. Timeline New DeFi protocols often offer higher rewards to early adopters in efforts to increase liquidity. It works also as an incentive for being willing to take a risk by investing in and using a new or untested product or service.  However, while early adoption may lead to greater rewards, it is also a high-risk venture — the yield farming protocol may not be successful. As such, the money and time invested may not be recouped.  Yield farmers should weigh their options carefully and consider all the factors, as well as other opportunities. Due to possible token inflation and the resulting price decline, it's not sustainable for new DeFi protocols to offer high rewards for long periods, especially if they reward farmers using their native tokens. Team When browsing for information, look out for errors from the main yield farming website – mistakes can indicate a sloppy or worse, fraudulent team. Ideally, the website should be well-designed, have no typos or broken links, and look professional. Another way to assess a team's reliability is whether or not it is subject to regular audits conducted by an external and independent auditor. A team should be well-balanced and comprise a healthy mix of entrepreneurs, product managers, developers, software engineers, marketing professionals, and financial experts. It’s a bonus if the project also has renowned advisors on its board. If you can, conduct research on individual team members as well. For starters, check their social media accounts to learn about their past achievements, as well as their activity on platforms like LinkedIn, GitHub, Reddit, TradingView, and YouTube. How they interact on social media can indicate their skillset, experience, and influence. Generally speaking, an established team with a good reputation is less likely to be running a scam. Closing Thoughts Yield farming can be a viable passive income strategy for those experienced at effective risk management. However, given the volatile nature of yield farming and crypto markets in general, it requires vigilance, effort, and time to plan a robust yield farming strategy. If you're considering yield farming, the aforementioned approaches can be used as a starting point to mitigate risks. In addition, you should dive deeper and do your due diligence before investing in any financial opportunity. Further Reading What Is Yield Farming in Decentralized Finance (DeFi)? A Beginner's Guide to Decentralized Finance (DeFi) A Beginner's Guide to Earning Passive Income With Crypto Why and How to Do Your Own Research (DYOR) When Investing in Crypto Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.      
Bitcoin Is Again In The Framework Of A Strong Downward Movement

The Bitcoin Has Made Another Local Low And Bears Are Getting Closer To The Key Technical Support

Sebastian Seliga Sebastian Seliga 09.03.2023 09:04
Crypto Industry News: In addition to groups of investors depending on how long they hold BTC, behavior can also be judged by portfolio size. Among all known holders, it is whales with more than 1,000 BTC that attract the most attention from speculators and the entire market. The graph shows the average purchase prices for whales, taking into account only coins entering and leaving cryptocurrency exchanges. Glassnode began measuring the following major bear bottoms by analyzing the best average purchase price for whales for each phase of the cycle. - Since July 2017, i.e. since the launch of Binance - From December 2018, at the low of the 2018 bear market - From March 2020 on the bottom of the COVID sale All three of these whale groups experienced an average unrealized loss when Bitcoin fell below $18,000 following the FTX implosion in November 2022. Interestingly, however, the recent declines have accelerated with weakening demand at the approximate cost base of BTC accumulating whales from December 2019, i.e. 23,800 In addition, this level coincided with the average purchase price of BTC for a supply older than 6 months, which potentially suggests a) a more permanent weakening of the sentiment b) a more active supply of long-term and also wealthy investors. Technical Market Outlook: The BTC/USD pair has made another local low in the last 24h and he bears are getting closer to the key technical support seen at the level of $21,429 (13th Feb low). The intraday technical resistance is seen at the level of $22,000. The bears move inside the descending channel on the H4 time frame chart and the weak and negative momentum helps the bears to push the prices lower. The negative bearish divergence on the daily time frame chart between the price and the momentum oscillator supports the bearish outlook for BTC in the coming days. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315469
Senator Elizabeth Warren's Digital Assets Anti-Money Laundering Act, Ethereum Shapella upgrade and more

The Bearish Pressure Is Increasing On The Ethereum Market

Sebastian Seliga Sebastian Seliga 09.03.2023 09:08
Crypto Industry News: The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, an organization representing the Russian cryptocurrency and blockchain technology market, appealed to President Vladimir Putin himself for help in creating regulations for the industry. Experts fear that the Russian Federation may lag behind other countries in this matter. In a letter to the Russian head of state, members of the organization warn that the government's approach to regulating the digital asset market poses "serious risks" related to the economy's lagging behind "new financial technologies." The association argues that the current state policy does not allow Russian companies to use the potential of new financial instruments. Moreover, it forces them to relocate to other jurisdictions. This entails direct financial losses for the state treasury. This "extremely conservative and prohibitive approach" could cause Russia's "digital economy" to slow down. Such a turn of events, in turn, "will deprive the country of the opportunity to become a leader in the implementation of digital payment and accounting systems." The letter sent to the president also reminded about the meeting with IT associations that took place in 2019. New regulations were discussed at that time. Although there were plans to establish regulatory sandboxes, these ideas were not implemented. In turn, the proposed changes to the Russian law "On Digital Financial Assets" make it difficult to implement innovative solutions on the market. But what exactly do Russian experts demand? They ask the president to convene a meeting on all the issues mentioned. They also suggest establishing a working group that would prepare a pilot project to introduce digital financial technologies to the domestic market. Technical Market Outlook: The bears on the Ethereum market has made the new local low at the level of $1,525 as the bearish pressure is increasing. The intraday technical resistance is seen at the level of $1,677 and $1,680. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, but in order to do this, the volatility must increase significantly. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 08:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315472
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

For Dexs Higher Revenue Can Attract More Users

Binance Academy Binance Academy 09.03.2023 10:55
TL;DR Decentralized finance (DeFi) protocols offer decentralized financial services via smart contracts and charge fees for those services. When a DeFi project’s revenue increases, it attracts more users and liquidity. Introduction Choosing between different DeFi protocols can take plenty of time and effort. Many seem similar, so how do we know which one is the best for generating passive income from our crypto? An essential step is understanding a platform’s revenue and how much of it is shared with its users. You can then use this information to make an informed decision on where to invest your assets. Learn more on Binance.com How DeFi Protocols Function Decentralized finance (DeFi) protocols offer a range of financial services that operate via smart contracts. For example, a DeFi protocol could offer decentralized exchange services, loans, and liquidity pools, all run via smart contracts on a blockchain. All you need to access and use these services is a wallet and some crypto to cover your transaction fees. There’s almost no limit to the financial services DeFi can offer. You can access exchange services, money markets, derivatives, and savings products in the DeFi world. All of these services are permissionless and disintermediated in nature. How DeFi Protocols Generate Revenue DeFi services’ operating costs come from the computing power needed to run smart contracts. Users typically cover this amount with the gas fees they pay. However, there are also other additional costs for services such as development and maintenance.  DeFi protocols charge fees for their services to cover these costs and generate a profit. Decentralized exchanges (DEXs) Users swapping tokens on a DEX must pay a fee to utilize its services. For example, a trade may incur a 0.3% fee for the DEX operator's treasury or liquidity reserves. Lending protocols Users who borrow from a lending protocol must pay a borrowing fee. Some of this will go to paying the liquidity provider (other users who have provided capital), while the rest will go to the protocol. Why Revenue Is Important Beyond covering a protocol’s costs, improved revenue and profits can also benefit stakers. DeFi projects often maintain a revenue-sharing model via their governance token holders. They also may use revenues to increase APRs for stakers or liquidity providers on their platforms.  For DEXs, higher revenue can attract more users and in turn, improve liquidity. It can also boost APY for yield aggregators if they benefit from combining users’ staked funds for “bribes” as network validators. To summarize, we can describe a project’s inflows and revenues in a circular fashion: Popular projects attract liquidity, which attracts more users and forms a virtuous cycle. Higher trading traffic and liquidity lead to lower slippage and faster execution. More users improve legitimate trading volume, which leads to more revenue. Revenue is shared with staked users, which provides more liquidity. This loop also attracts users who want to engage in yield farming. Those looking to invest their money can increase their chances of maximizing their gains with compound interest. The more successful a project is, the more liquidity and, in turn, the more yield farmers it will attract. This process generates more revenue that can be used to improve a protocol’s offering. How to See How Much DeFi Protocols Generate DeFi operates on-chain, which means almost all transactional information — depending on the blockchain used — is verifiable. Blockchain explorer is easily accessible by everyone, but that doesn’t mean we can always understand the extent of a protocol’s revenue. There are a number of blockchain data aggregators that simplify the task so you can better understand each protocol’s revenue. With a Google search and some research from trusted sources, you should be able to find metrics, revenues, and stats on DeFi protocols’ revenues. These figures can help you make more informed investment decisions. Closing Thoughts Revenue is a crucial metric to study, whether you’re looking at a project’s real yield or basic fundamentals. You can wisely invest only if you understand how a protocol generates and shares its revenue. You can further understand the topic by diving into DeFi 2.0, yield farming, and general financial topics on Binance Academy. Further Reading What Is Yield Farming in Decentralized Finance (DeFi)? | Binance Academy What Is DeFi 2.0 and Why Does it Matter? | Binance Academy Introduction to DeFi | Binance Academy   Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.  
Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

Bitcoin Has Fallen Past The $22k Level Which Is A Bearish Signal

InstaForex Analysis InstaForex Analysis 09.03.2023 14:03
The situation in the cryptocurrency market remains tense due to internal and external processes. The first month of spring passes under the banner of a decrease in investment activity in the crypto market and an aggravation of negative sentiment around digital assets. Increasing macroeconomic concerns are adding to the tension in the market, and as a result, BTC continues to fall below the $22.5k level. Despite the deplorable situation, there is every reason to believe that the asset will be able to resume its upward movement. Fundamental background The likelihood of a local positive segment in the crypto market in no way cancels the fact that the industry is approaching a difficult period in the medium term. JPMorgan Chase CEO Jamie Dimon believes that the global trend in the global economy is inflation. This opinion is shared by Fed Chairman Jerome Powell, who hastened to soften his statements on March 8, after dropping global markets a day earlier. The head of the regulator said that inflation is declining, but at too slow a pace. Powell also noted that the cost of ignoring inflation now would be very high. The official said that the decision on the pace of rate hikes has not yet been made, and everything will depend on the economic indicators that will be released on the eve of the Fed meeting. A strong labor market and weak deflationary movement will trigger further key rate hikes. However, regardless of the upcoming events, the CEO of Bank of America said he expects a technical recession in the third quarter of 2023. BTC and Cryptocurrency Market Analysis Bitcoin maintains a high level of correlation with stock indices, and therefore is especially sensitive to any statements by the Fed. Also, the price of the cryptocurrency reacts sharply to the situation around SPX and DXY. For example, the last decline in Bitcoin occurred in parallel with the achievement of the DXY local high in January. These are interconnected things, since the U.S. dollar index is again a key component in predicting the price movement of other assets. Aside from the DXY, do not underestimate the sentiment within the crypto market. Santiment notes the growing negative sentiment on the market, and CryptoQuant, assessing funding rates, is betting on an increase in short positions in the near term. The number of Bitcoin whale addresses also continues to fall. The indicator fell to 1658, which is the minimum for the last three years. Glassnode sums up the results and states that the market is in a "transitional phase" and, despite the appearance of the first waves of investment injections, their significance for the market is too small. Meanwhile, Bitcoin has fallen past the $22k level, which is a bearish signal. For the first time in 5 days, the market has seen volume, but there is a sense that the price is going lower to accumulate liquidity before a shot upwards. Results The cryptocurrency market always plays against the expectations of the crowd, and when negative narratives are pumped up, a sharp upward spurt is quite likely. With this development of events, the main targets for the asset will be fixing above $22.5k–$23k. Holding this zone and subsequent consolidation will allow the asset to resume movement towards $24k–$25k. If the downward trend persists, BTC will retest the $21.3k level with a claim for the final consolidation below this level. In this case, the price will continue to fall to $20k–$20.3k, where the situation could be different.   Relevance up to 11:00 2023-03-10 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/337142
Analysis Of Price Movements Of Ripple Cryptocurrency

Analysis Of Price Movements Of Ripple Cryptocurrency

InstaForex Analysis InstaForex Analysis 10.03.2023 08:10
There are 2 interesting things on Ripple Cryptocurrency daily chart: 1. The appearance of deviation between price and Awesome Oscillator indicator. 2. Formation of Bullish Continuation Failing Wedge pattern. Based on 2 things above it is very likely that Ripple will appreciate up and up to break above the 0.3988 level. If this level is successfully broken, then the 0.4305 level will be the target for the next level which will be tested in the next few days provided there is no downward correction that exceeds the 0.3502 level because if this level If it is successfully penetrated below, all Bull scenarios that have been described will become invalid and cancel automatically. (Disclaimer)   Relevance up to 04:00 2023-03-13 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/121029
Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Bitcoin Is Strongly Bearish, So A Further Drop Is Natural

Ralph Shedler Ralph Shedler 10.03.2023 08:28
Bitcoin crashed and now is trading at 20,025 at the time of writing. Technically, the crypto dropped as predicted. Personally, I've talked about this scenario in my previous analyses. BTC/USD is strongly bearish, so a further drop is natural, it could reach new lows soon. Still, after its massive drop, we cannot exclude a minor rebound before extending its sell-off. BTC/USD dropped by 9.23% from yesterday's high of 21,824 to 19,810 today's low. The current sell-off forced the altcoins to fall as well. BTC/USD Dropped As Expected! From the technical point of view, BTC/USD registered an aggressive breakdown below the median line (ml) of the descending pitchfork confirming huge bearish pressure. You knew from yesterday's analysis that breaking below the median line activates more declines. Bitcoin ignored the former lows activating a larger downside movement. The lower median line (lml) stands as a potential downside target. BTC/USD Forecast! The bearish closure below the median line (ml) was seen as a new selling opportunity. A larger downside movement could be activated after making a valid breakdown below the lower median line (lml).   Relevance up to 08:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315630
Coinbase, Microstrategy, Block and cryptocurrencies rose despite market uncertainty

The New Bitcoin's Low Was Made At The Level Of $19,800

Sebastian Seliga Sebastian Seliga 10.03.2023 10:22
Crypto Industry News: Since the beginning of 2023, all reports about the Silvergate bank have been based only on negative information. The colossal losses in the last quarter of last year, numerous lawsuits from investors, an investigation by the US Department of Justice, the loss of key partners and a drop in stock prices finally led to what was inevitable. Silvergate Capital announced its liquidation on Wednesday. Right after New York's Singature Bank, the company was the second largest institution of this type for entities from the cryptocurrency sector. Up to a point, Silvergate's biggest client was the FTX exchange, which collapsed unexpectedly last November. This event greatly damaged the image of this industry in the media and led to the loss of investor confidence in trust institutions. "In light of recent industry and regulatory developments, Silvergate believes that an orderly liquidation of the Bank's operations and a voluntary liquidation of the Bank is the best way forward," the company's statement read. Silvergate has announced that all customer deposits will be fully repaid. This is a key element of their planned liquidation. However, the company did not explain exactly how it intends to settle accounts with investors. Last week, the cryptocurrency bank suspended the Silvergate Exchange Network service. It was a key product in their offer that attracted companies from the digital asset sector. Thanks to the Silvergate network, customers could make transactions in real time. Furthermore, the announcement of Silvergate's liquidation states that all other escrow services remain active. The company will contact customers as needed as a result of changes in this matter. Technical Market Outlook: The BTC/USD pair has made another swing low in the last 24h as the bears broken below the key technical support seen at the level of $21,429 (13th Feb low). The new low was made at the level of $19,800 (at the time of writing the article). The intraday technical resistance is seen at the level of $21,429. The negative bearish divergence on the daily time frame chart between the price and the momentum oscillator supports the bearish outlook for BTC in the coming days, however, the extremely oversold market conditions might indicate a possibility of a bounce towards the technical resistance in order to test it. The next target for bears is seen at the level of $18,360. Weekly Pivot Points: WR3 - $22,812 WR2 - $22,582 WR1 - $22,470 Weekly Pivot - $22,352 WS1 - $22,240 WS2 - $22,122 WS3 - $21,892 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 09:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315659
The German Financial Supervisory Authority (Bafin) Has Confirmed That NFTs Are Not Securities

The German Financial Supervisory Authority (Bafin) Has Confirmed That NFTs Are Not Securities

Sebastian Seliga Sebastian Seliga 10.03.2023 10:28
Crypto Industry News: Several jurisdictions around the world have stepped up their efforts to regulate the digital asset industry. Also in Germany, the financial watchdog has issued guidance on the regulatory treatment of cryptocurrencies, including for anti-money laundering and anti-terrorist financing purposes. The German Financial Supervisory Authority (BaFin) has confirmed that NFTs are not securities. In a recently released statement, officials argued that digital asset ownership tokens were for speculation only. Therefore, they do not qualify as an investment vehicle. They argue that NFTs have so far not exhibited characteristics similar to financial securities such as shares, which prevents them from being considered securities in the regulatory sense. So far, BaFin is not aware of any NFTs that could be classified as securities in the regulatory sense. However, the regulator also added that perhaps in the future, NFTs could qualify as a security: "If NFTs are to be classified as securities under the EU Prospectus Regulation or as investments under the Asset Investment Act (VermAnlG), a prospectus must always be prepared." In Europe, all eyes are on MiCA. The final vote on the long-awaited EU set of crypto rules is touted as the first comprehensive European crypto framework. It excludes provisions for NFTs. However, last summer, European Commission adviser Peter Kerstens suggested that NFT issuers could potentially be equated with crypto service providers. This will require them to regularly report on their activities to the European Securities and Markets Authority. Technical Market Outlook: The bears on the Ethereum market has made the new local low at the level of $1,391 after they broke below the technical support seen at $1,487. A sustained breakout below the level of $1,487 would change the mid-term outlook to bearish, so please keep an eye on the $1,487 technical support (swing low). Any violation of this level would likely extend the drop towards $1,345, which is the next technical support for bulls. Weekly Pivot Points: WR3 - $1,597 WR2 - $1,577 WR1 - $1,568 Weekly Pivot - $1,560 WS1 - $1,550 WS2 - $1,542 WS3 - $1,524 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 09:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315662
Bitcoin Is Again In The Framework Of A Strong Downward Movement

Bitcoin Is Again In The Framework Of A Strong Downward Movement

InstaForex Analysis InstaForex Analysis 10.03.2023 12:42
After a week of consolidation, Bitcoin is approaching the end of the trading week by updating the local day below the $20k mark. The cryptocurrency consolidated near the $22.5k level and was prone to decline, which happened. The fall in the price of Bitcoin was influenced by many fundamental and technical factors that formed a negative sentiment among investors. The current week showed that the period of local thaw is over and another storm is waiting for the markets in the near future. Fundamental background Let's start with the good news, which finally came from the labor market. Initial jobless claims in the U.S. reached 211,000 against the forecast of 195,000. This is a key point that indicates a gradual weakening of the labor market. If this develops into a trend, we can expect a more moderate monetary policy of the Fed regarding the key rate. That said, it is reported that there are 5 million more job openings in the U.S. than unemployment, so the formation of a sustained momentum may not take place. Jerome Powell's speech also did not reassure markets, and markets now expect a 50 basis point rate hike in March, to 5%–5.25%. Investors are confident that the rate will be raised by another 25 bps in May and June. A rate cut is not expected until January 2024. Investment giant Citi shares investors' forecasts and raises the peak of the key rate to 5.5%–5.75%. The coming months will be difficult for markets and especially high-risk assets due to large liquidity problems and falling quotes of instruments such as SPX and BTC. What is happening in the crypto market? The situation on the crypto market has also become more complicated due to the start of the procedure for the liquidation of the crypto-friendly Silvergate Bank. At the same time, Santiment reports that buy the dip sentiment is forming in the market, but despite this, the market capitalization may decrease even more. U.S. President Joe Biden also called for a 30% tax on all electricity used to mine Bitcoin and other cryptocurrencies. The politician also announced a revision of the tax policy for crypto traders who do not make a profit. It also became known that only 1.82 million BTC coins are at the disposal of Bitcoin miners. This represents about 9.4% of the total volume of cryptocurrencies in circulation and is the lowest in 2023. This indicates that the miners are selling their reserves. At the same time, there is a large outflow of BTC from centralized exchanges, which indicates the continuation of the accumulation period. Yesterday, about 6,760 BTC was withdrawn from the crypto platform, which is equivalent to $141 million. The total BTC supply on exchanges is 11.8%, the lowest since December 2017. BTC/USD Analysis As a result of March 9, Bitcoin formed the largest red candle since November 2022, which is ironic because it is the situation in the fall of 2022 that the crypto market returns to. The bearish volumes continued to rise today, causing the asset to break through the $20k level. It is noteworthy that we still do not see a strong buy-off of buyers, which indicates an update of older price lows. Technical indicators are gradually falling into the oversold zone, and BTC is moving to storm $19.4k and $18.9k. The key support zone within the current decline is the $18.3k level, where there was a serious buying of bulls. With only $323 million liquidated in the last 24 hours, the big players will allow the price to drop lower to collect more substantial liquidity. Results Bitcoin is again in the framework of a strong downward movement, intensified by negative sentiment, internal market problems and another deterioration of the macro situation. Therefore, it is likely that a deeper correction awaits us before buying off and trying to recover above $20k.   Relevance up to 09:00 2023-03-11 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/337259
There Are Many Ways To Join A Crypto Community

There Are Many Ways To Join A Crypto Community

Binance Academy Binance Academy 12.03.2023 10:31
TL;DR The crypto and blockchain world can be intimidating for those wanting to start their journey. The ever-evolving nature of blockchain and the sheer amount of information often overwhelm beginners. Finding a community of like-minded people can be a great way to get you started in the crypto space. Introduction Web3 is a term describing the next iteration of the World Wide Web. It differs from its predecessor, Web2, as it’s built on fundamental principles of decentralization, trustless collaboration, censorship resistance, and ownership. Web3 applications allow users to interact or exchange data without the need for intermediaries. While we aren’t exactly living in a Web3 world quite yet, there’s a community of people that are aiming to make that happen. Developers, investors, influencers, and other crypto enthusiasts have been working on a variety of Web3 projects, from infrastructure to decentralized apps (DApps). Crypto communities are composed of people who are passionate about crypto. Community members could bond over their love for NFTs, DeFi, Layer 2 solutions, and all things crypto-related. Crypto communities are essential for sharing knowledge, and blockchains like Bitcoin, BNB Chain, and Ethereum typically have their own communities. Relatively technical concepts, such as mining or Proof of Work (PoW), have become common knowledge thanks to the efforts of these crypto communities in creating more accessible information. Through their collective advancement of knowledge and education, crypto communities have proven to be a significant driving force for the blockchain industry. Due to the borderless nature of crypto, communities often exist online and communicate through discussion forums, chat rooms, and social media. For example, the crypto Twitter community is a niche group of investors, developers, companies, and influencers, each championing their own crypto cause on the platform. Staying updated Joining a crypto community is an excellent way to stay updated on new trends, technologies, concepts, products, and tools. This allows you to make more informed decisions and participate in time-sensitive events. Finding a mentor Throughout your research, have you ever encountered complex technical papers or Web3 publications? Being in a community of developers, crypto entrepreneurs, and other experts can help make certain topics easier to understand and research. Gaining an edge As part of an active community, you are given an edge by having access to the latest information that is yet to be widely known. You can gain insight into developing trends and learn from people with similar experiences. Additionally, a community's collective wisdom can help you make better decisions, network with other professionals, and stay updated on industry developments. Customer service Some communities have official administrators and managers. Rather than struggle alone, investors can receive direct feedback and assistance from members and administrators alike. Starting a business Informal conversations between community members could be the driving force behind new innovations. You can share business insights, discuss opinions, and exchange information through casual chats. Within a community, you might even find your future team members or business partners. Sense of belonging Are you team Layer 1 or Layer 2? Do you have a favorite NFT artist? Even if you’re the only crypto nerd in your friend circle, you’re bound to find others like you. Explore projects and forums As mentioned above, most projects and blockchains have their own established communities. To be part of the action, visit their websites or socials – including Telegram, Twitter, Discord, or Facebook. Alternatively, if you’re entering the crypto space alone with no specific community in mind, Reddit could also be a place to start. Reddit is an online forum where crypto enthusiasts can read crypto news, view user-submitted analyses, and participate in discussions. Some of the crypto communities on Reddit include /r/bitcoin, /r/btc, /r/binance, and /r/cryptocurrency. Be vocal Engaging in online conversations with others through the comments section of relevant crypto posts can be an easy way to find like-minded people. Share your opinions and interests; start engaging in discussions and activities. Enroll in classes Look for a Web3 course that interests you. Online or offline, the classroom can be a great place to start meaningful discussions about Web3 and form new connections.  Meetups Attending a blockchain or crypto-related meetup, participating in an online discussion forum, or joining a social media group are great ways to connect with knowledgeable people. Some blockchain events facilitate networking parties, business matchmaking, and AMAs. Participating in these can help you gain exposure and meet new community members. Contribute to a project or cause Find a community that thrives on participating in the development of crypto. The blockchain ecosystem is collaborative by nature – its tenets of borderlessness, open-source, decentralization, and trustlessness all help to foster collaboration.  Many projects in the crypto space adopt an open-source approach, where the source code used to build their technology is available to the public and can be modified to a degree. This allows community members to provide solutions and innovations faster. One such community is GitHub, an online platform that facilitates collaboration between developers and users. It allows developers to share code and work together on open-source projects. Users can also discuss ideas, give feedback, and offer assistance. Platforms like GitHub also organize events such as hackathons and meetings to promote community involvement. It’s also not uncommon for projects to launch incentive-based events called bounty programs to encourage people to contribute to their growth. What Are the Risks in Crypto Communities? Like any other online community, crypto communities come with their own risks. One of the main risks associated with crypto communities is the potential for fraud. As mentioned, communities are often open to anyone. This means that scammers and bots can join the group. For example, you may receive a direct message from someone claiming to be a group admin. Do take extra care to verify that this is not a scammer trying to get your money. Scammers may try to get your personal information or private keys through a malicious link or other types of cryptocurrency scams. There is also the risk that the community will differ from what you initially expected. For example, the community may be based solely on hype to drive up token prices. This can create a culture of greed and speculation that may differ greatly from the original reason you joined the community. Similarly, crypto communities can be filled with misinformation, making it difficult to separate facts. Therefore, be careful when making investment decisions based on community conversations.   Conclusion Depending on your interests and experience, there are many ways to join a crypto community. Whether pursuing a personal financial goal, a new business venture, or an unfamiliar topic to learn, having a community to collaborate with can be helpful. Share insights, form a network of like-minded individuals, and grow from each others’ mistakes. You could even find your future business team! From bouncing ideas off each other to providing moral support, having people to help you is crucial for success. Further Reading How to Set Personal Financial Goals and Reach Them Crypto vs Stocks: What Is The Difference? Top 7 Technologies that Power the Metaverse What Is Web 3.0 and Why Does It Matter? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance Academy is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.
National Bank of Poland Meeting Preview: Anticipating a 25 Basis Point Rate Cut

To Protect Customer Deposit, SVB UK Will Be Sold To HSBC, The Food Crisis Is Getting Worse

Kamila Szypuła Kamila Szypuła 13.03.2023 09:38
The SVB crisis triggered an avalanche of reactions throughout the world's banking system. Governments, financial institutions are doing what they can to minimize the damage. In addition to problems in the banking sextor, there will also be problems with food. In this article: In protection of SVB UK customer deposits The changes Food crisis Stablecoins In protection of SVB UK customer deposits HSBC on Monday announced a deal to buy the UK subsidiary of US tech lender Silicon Valley Bank, which collapsed on Friday. Plenty of potential buyers have made bids to buy SVB UK since the bankruptcy of its US parent company on Friday, amid widespread fears about the immediate future of many UK tech and life sciences start-ups. HSBC UK Bank has agreed to acquire SVB UK for £1 ($1.21). The assets and liabilities of the parent company SVB UK are excluded from the transaction. The sale, facilitated by the Bank of England in agreement with the UK Treasury, will protect SVB UK customer deposits. In addition, U.S. regulators on Sunday approved plans to protect depositors and financial institutions affiliated with U.S. parent company SVB. HSBC buys Silicon Valley Bank UK, protecting deposits https://t.co/FeR6RZEecF — Ted Kemp (@TedKempCNBC) March 13, 2023 The changes President Xi Jinping is preparing to change the financial bureaucracy, already replacing members of the shrinking reformist camp in the country. Surprisingly, PBOC Governor Yi Gang, a proponent of market reform who taught economics in the United States, remained in office despite reaching the official retirement age. However, his eventual replacement by someone more parochial like Zhu seems inevitable. From Breakingviews - China central bank punts its succession problem https://t.co/jfuJF2QIeG — Reuters Business (@ReutersBiz) March 13, 2023 Food crisis One year after Russia's invasion of Ukraine shook agricultural commodity markets, food prices remain high. Moreover, as the world's two largest exporters of wheat and other key crops enter their second year of war, many vulnerable countries continue to face heightened food insecurity. The IMF and other global institutions said in a recent Joint Statement on Food Security that governments and donors must increase support for the most vulnerable, facilitate trade and market functioning, and end harmful subsidies. Global food prices remain high even after dropping from the record level reached early last year on Russia’s invasion of Ukraine. See our Chart of the Week blog for more: https://t.co/70ubEeRD80 pic.twitter.com/xW8WoNi1Qk — IMF (@IMFNews) March 12, 2023 Stablecoins As the world of finance becomes increasingly digital, digital currencies are taking center stage in the financial sector. Stablecoins have gained considerable popularity in recent years thanks to their ability to provide the benefits of both digital currencies and traditional fiat currencies. Analyzing the percentage composition of the stablecoin portfolio among respondents holding stablecoins, the number of owners decreases as the size of the stablecoin portfolio increases. A survey of 392 stablecoin holders revealed that the most commonly held stablecoins are: USDT (80.3%), USDC (50%) and BUSD (50%). You can learn more about stablecoins from the summary of the survey. 1/ What are the most commonly held #stablecoins among stablecoin owners? 🪙Our recent survey with @lab_blockchain revealed that the most commonly owned stablecoins are: $USDT (80.3%), $USDC (50%) and $BUSD (50%).Read the full report: https://t.co/nBN8ufuKtQ pic.twitter.com/bMCTQLVzJ2 — CoinGecko (@coingecko) March 13, 2023
Bitcoin Has Made A Dynamic And Aggressive Reversal

Bitcoin Has Made A Dynamic And Aggressive Reversal

Sebastian Seliga Sebastian Seliga 13.03.2023 11:00
Crypto Industry News: The U.S. Securities and Exchange Commission yesterday rejected VanEck's application to create a Bitcoin spot exchange product (ETP), Reuters reported. The SEC has fundamentally rejected a change that would allow the company to establish trust in Bitcoin. Commissioners Mark Uyeda and Hester Peirce immediately issued a statement criticizing the Commission's decision not to approve the listing and trading of the VanEck product. The SEC opined that because there is no primary regulated market, VanEck does not have a comprehensive supervisory sharing agreement with a regulated market of significant size related to spot bitcoin. According to the commissioners, the SEC has not previously required any link between the spot and futures markets for other commodity-based ETPs: "It is also clear that the Commission uses an extremely onerous definition of the word 'significant' in its analysis of Bitcoin ETP spot applications," the letter reads. They added that the SEC is legally required to explain changes to its policy for approving commodity-based ETPs. VanEck has a financial product related to Bitcoin futures. In 2017, the company began seeking approval for the product. The SEC has been delaying for months before making a decision on the company's current, third application for an ETP spot. Technical Market Outlook: The BTC/USD pair has made a dynamic and aggressive reversal from the yearly low located at the level of $19,572 and is currently testing the 50 DMA seen at $22,059. The next target for bulls is seen at the level of $22,755, because this is the key short-term technical resistance for bulls. The momentum on the daily time frame chart remains positive, which supports the short-term bullish outlook for BTC. Weekly Pivot Points: WR3 - $24,010 WR2 - $23,176 WR1 - $22,860 Weekly Pivot - $22,341 WS1 - $21,967 WS2 - $21,506 WS3 - $20,672 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 10:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315832
The Ethereum Has Located Just Above The Key Short-Term Technical Support

The Ethereum Has Located Just Above The Key Short-Term Technical Support

Sebastian Seliga Sebastian Seliga 13.03.2023 11:03
Crypto Industry News: The executives of California-based Silvergate Bank, a financial intermediary for the cryptocurrency industry that recently filed for bankruptcy and went into liquidation, sold shares worth more than $103 million in total at the peak of the crypto bull market. Former CEO Dennis Frank "worked out" about 25% of that statistic by selling nearly 189,000 shares between March and November 2021. President Frank's average selling price was $140 apiece. Other insiders selling at the top include vice chief executive Derek Eisele, chief executive officer Alan Lane, chief strategist Ben Reynolds and chief operating officer Kathleen Fraher. According to data from the insider trading service OpenInsider, insiders were selling their shares for an average of $133 per share. The value of the shares cashed in at the top is 4% of the company's average market capitalization of $3.6 billion during the highs of the cryptocurrency market. It is worth noting that some insiders bought stocks at a time when the bull market was in full swing, such as CEO Lane and CEO Thomas Dircks. They spent a total of nearly $250,000 on stocks in November 2019. Lane later sold nearly 178,000 shares for $18.6 million between June 2021 and July 2022. Silvergate's leadership, however, was not alone in its action. Insiders at other leading cryptocurrency companies, including Signature, MicroStrategy, Block (formerly Square), and cryptocurrency mining companies like Marathon and Riot, sold around $661.4 million in stocks as markets peaked during the recent bull market . Technical Market Outlook: The ETH/USD pair had bounced from the level of $1,369, located just above the key short-term technical support and is currently testing the short-term trend line resistance seen around the level of $1,633. The 50 DMA is seen at the level of $1,598, so any daily candle close above this level might be bullish in the short-term for ETH. The positive momentum on the daily time frame chart supports the short-term bullish bias for ETH. Weekly Pivot Points: WR3 - $1,709 WR2 - $1,656 WR1 - $1,629 Weekly Pivot - $1,603 WS1 - $1,575 WS2 - $1,550 WS3 - $1,497 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.     Relevance up to 10:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315834
Bitcoin is trying to resume its upward movement

Bitcoin is trying to resume its upward movement

InstaForex Analysis InstaForex Analysis 13.03.2023 14:26
After a brief consolidation early last week, the cryptocurrency market has made several impulse price movements. The spikes in volatility have been linked to macroeconomic developments that continue to keep investors at bay. Following the results of Thursday and Friday of last week, Bitcoin made a downward breakdown of the $22k level and reached the level of $19.6k. Subsequently, we saw a quick consolidation and a strong reaction from buyers, which led to the full recovery of Friday's price drop. Bitcoin is approaching the new trading week on a bullish note and increased buying volumes. It is likely that the cryptocurrency and the entire market will continue its upward movement, but the fundamental background remains tense. Fundamental news background The main factor that provoked a surge in volatility was liquidity problems at the crypto-friendly bank Silicon Valley. The likely collapse of the large bank hit one of the largest stablecoins USDC, as well as DAI, which caused a local panic in the crypto market. The Fed, together with the U.S. Department of Treasury, announced emergency support for deposits for SVB and other banks in a difficult situation. The probable cause of liquidity problems for banks may be the Fed's hawkish policy, which contributed to a decrease in the yield of bonds purchased at a neutral rate. This means that in particularly difficult times, banks can rely on much smaller amounts of liquidity than they initially had due to the rapid deterioration of the monetary situation. CNN analysts believe that U.S. banks have unrealized losses of $620 billion. At the same time, there are relatively positive signals from the labor market, where the reality turned out to be worse than forecasts for the first time in a long time. As a result, BBG reports that the latest unemployment report pushed the likelihood of a 0.50% rate hike in March down to 50%. This news is "positive" only in quotes, because everything that happens has one key reason—inflation. And if the indicator does not fall significantly by the end of February, then the situation in both the U.S. economy and the crypto market will deteriorate significantly. BTC/USD Analysis Bitcoin managed to defend the key support level of $20k and recover above $22k. This is a positive signal indicating the general stabilization of the situation and the fundamental interest of investors in the cryptocurrency. Despite the temporary easing of pressure on the crypto market, BTC remains in close relationship with the SPX index. JPMorgan analysts are sure that in the next three months the stock market may lose about 20% of capitalization, and Bitcoin will expect similar dynamics. Successfully raising liquidity below $22k has accumulated over $500 million in liquidated positions in less than a week . This allowed the buyers to consolidate above the key $21.6k resistance level. The asset returned to $22.4k and is trying to resume its upward movement to the $22.6k–$22.8k levels for further consolidation above $23k. However, as of writing, BTC was facing strong seller resistance, as evidenced by a large upper wick. The 4H chart shows that the sellers have seized the initiative locally, and therefore, the buyers will try to stabilize the price near the $21.6k–$22k levels. Bitcoin needs a pause to accumulate volumes, so in the near future, we should expect local consolidation near $22k. Results The situation on the crypto market returned to normal after the panic that arose at the end of last week. The fundamental threat remains, and in the long run, U.S. government agencies will not be able to put out all the fires. Given this, we should expect further bursts of volatility and sharp price movements within a wide area of $20k–$24.4k   Relevance up to 10:00 2023-03-14 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/337406
Litecoin Still Calls For A Much Higher Upside

Litecoin Still Calls For A Much Higher Upside

Torben Melsted Torben Melsted 14.03.2023 08:16
The correction from the 105.67 peak became much deeper than expected. Therefore, we have been reviewing our possible counts and have updated our preferred scenario as follows. This count still calls for a much higher upside. The count shows that an expanded leading diagonal unfolded from the 40.33 low to the 105.67 high as wave 1 and the following deep correction is wave 2 or part of wave 2. We preferred wave 2 to be complete with the test of 65.71 or the 61.8% corrective target of the distance travelled from the low at 40.33 to the peak at 105.67. In the short term, we will be looking for a break above resistance at 90.50 confirming that the decline from 105.67 was corrective and likely has been completed and a new test of the former peak should be expected soon. In the longer term, we will be looking for much higher levels with 171.43 being the next major upside target to look for.     Relevance up to 07:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315943
The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

The Momentum Of Bitcoin On The Daily Time Frame Chart Remains Positive

Sebastian Seliga Sebastian Seliga 14.03.2023 09:03
Crypto Industry News: American experts disagree on how bitcoin will behave in the broader perspective after the collapse of Silicon Valley Bank, Silvergate and Signature. Robert Kiyosaki, a well-known author, is of the opinion that "buy as much as possible". The famous author of the global bestseller "Rich Dad, Poor Dad" reiterated his recommendation to buy more gold, silver and Bitcoin. Kiyosaki also stressed that in the current situation, the Fed will inject a lot of "fake money" into the US economy. "The bailout has begun. Lots of fake money will be injected into the sick economy. I still recommend the same solution. Buy more gold, silver and bitcoin. Hold on tight. Crash landing ahead," Kiyosaki wrote on his Twitter. Kiyosaki calls the dollar "fake money" because it is backed by US government credit, rather than being tied to "real money" like gold, as he explained in an earlier statement. On Sunday, the U.S. Treasury Department, the Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) issued a joint statement saying depositors of Silicon Valley Bank and Signature Bank will have access to all of their money and will not suffer any associated losses. Technical Market Outlook: The BTC/USD pair has made a dynamic and aggressive reversal from the yearly low located at the level of $19,572 and is currently approaching the monthly and weekly high seen at $25,257, which is the next target for bulls. Because this is the key short-term technical resistance, any sustained breakout above this level will change the mid-term sentiment on the cryptocurrency market for more bullish. The momentum on the daily time frame chart remains positive, which supports the short-term bullish outlook for BTC, however the market conditions seems to be extremely overbought now, so a pull-back towards the intraday technical support is welcome. Weekly Pivot Points: WR3 - $24,010 WR2 - $23,176 WR1 - $22,860 Weekly Pivot - $22,341 WS1 - $21,967 WS2 - $21,506 WS3 - $20,672 Trading Outlook: Despite the recent rally, the down trend on the H4, Daily and Weekly time frames continues without any indication of a possible trend termination or reversal. So far every bounce and attempt to rally is being used to sell Bitcoin for a better price by the market participants, so the bearish pressure is still high. The gamechanging level for bulls is located at $25,442 and it must be clearly violated for a valid breakout in the longer term.   Relevance up to 08:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315989
The Ethereum Is Currently Approaching The Monthly Highs

The Ethereum Is Currently Approaching The Monthly Highs

Sebastian Seliga Sebastian Seliga 14.03.2023 09:06
Crypto Industry News: The Ethereum-based non-trust lending protocol Eurler Finance faced a flash loan attack where the attacker managed to steal nearly $200 million in various cryptocurrencies. According to data on the chain, according to the last update, the attacker has carried out many transactions, stealing almost 196 million dollars. The ongoing attack has already become the biggest hack of 2023. According to the crypto-analytical company Meta Seluth, the attack correlates with the deflationary attack from a month ago. The hacker used a multi-chain bridge to transfer funds from BNB Smart Chain (BSC) to Ethereum and launched the attack today. ZachXBT, another prominent on-chain detective, added that the flow of funds and the nature of the attack seems quite similar to the black hats that used the BSC-based protocol last month. After using the protocol in BSC, the funds were deposited in the Tornado Cash cryptocurrency mixer. Euler Finance admitted to the hack and said it is currently working with security specialists and law enforcement to resolve the issue. Technical Market Outlook: The ETH/USD pair had bounced from the level of $1,369, located just above the key short-term technical support and is currently approaching the monthly highs seen at the level of $1,742. The last daily candle close was above the 50 DMA, so this is a very bullish indication. The intraday technical support comes with the help of 50 MA seen at $1,619 and 100 MA seen at $1,644. The positive momentum on the daily time frame chart supports the short-term bullish bias for ETH. Weekly Pivot Points: WR3 - $1,709 WR2 - $1,656 WR1 - $1,629 Weekly Pivot - $1,603 WS1 - $1,575 WS2 - $1,550 WS3 - $1,497 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new swing low was established at $1,074. There is a clear test of the 50 WMA located at the level of $1,080, so any breakout below the moving average and a weekly candle close below moving average will be considered as another indication of the down trend continuation. If the down move will be extended, then the next target for bears is located at the level of $1,000.   Relevance up to 08:00 2023-03-15 UTC+1 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here. Read more: https://www.instaforex.eu/forex_analysis/315991
Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Cross-Chain Interoperability Solutions Have The Potential To Significantly Improve

Binance Academy Binance Academy 14.03.2023 09:18
This article is a community submission. The article is contributed by Derek Yoo, the CEO of PureStake, a development team for the Moonbeam platform for cross-chain connected applications. TL;DR  Cross-chain interoperability enables applications to communicate and interact with each other across different blockchain networks. This allows for the transfer of data and value between disparate systems, providing increased connectivity and seamless integration.  What Is Interoperability in Blockchain?  Interoperability in the context of blockchains refers to a blockchain’s capacity to freely exchange data with other blockchains. Cross-chain interoperability allows smart contracts on different chains to communicate with each other without having to send the actual tokens between chains. For example, assets, services, and transactions are recorded on a blockchain as documentation. Whatever activity takes place on one blockchain can be represented on another blockchain with the right interoperability solution. This means applications work with any asset or service regardless of which blockchain they are on. Why Is Interoperability Important?  Blockchains today are in a similar position as the early days of the internet: there are many isolated ecosystems unable to exchange information.  This lack of interoperability and connectivity poses a significant obstacle to the broader adoption of blockchain technology, as it prevents the seamless flow of data and value across different networks.  From a developer's perspective, each deployment constitutes an isolated and independent instance, resulting in the backend contracts being unconnected and unaware of each other. For example, a decentralized exchange (DEX) DApp may need to be deployed on Ethereum, BNB Chain, and Polygon networks individually. It leads to each version of the DApps being isolated.  As a user, the multi-deployment approach can present several challenges. It doesn't allow for the seamless transfer of tokens from one blockchain to another. This is usually done in a process in which assets are destroyed on the source blockchain and minted again on the destination blockchain using a third party bridge. The process can be time-consuming and confusing, leading to fragmented data islands and poor user experience. The security risks associated with holding assets across multiple blockchains can also be significant, opening the door for hacks and potential loss of funds. Cross-Chain Interoperability Solutions  Cross-chain connectivity is improving as developers build solutions making it easier to connect and transfer data and value across various networks. This can unlock new possibilities for more user-friendly and interconnected blockchain applications. There are different approaches to improving cross-chain interoperability. Here, we list some examples to showcase a wide array of solutions.  Chainlink Chainlink is developing the Cross-Chain Interoperability Protocol (CCIP), which is an open-source standard for enabling cross-chain communication, including messaging and token transfers. The goal of CCIP is to enable a universal connection between hundreds of blockchain networks using a standardized interface. It has the potential to reduce the complexity of building cross-chain applications and services. Wormhole The Wormhole protocol is a generic interoperability protocol that allows for the transfer of tokens and messages between different blockchain networks. Messages on a source chain are observed by a network of guardians who verify and facilitate transfers to target chains.  Developers using Wormhole can build cross-chain decentralized applications called xDapps. LayerZero LayerZero is an omnichain interoperability protocol for lightweight message passing between blockchains, providing secure and reliable message delivery with configurable trustlessness.  LayerZero's ultra-light nodes (ULN) are smart contracts that provide block headers of other bridged chains to improve efficiency. The ULN is only triggered on-demand and the smart contract communicates with an oracle and a relayer through the LayerZero endpoint. This design allows for lightweight and efficient cross-chain communication. Hyperlane Hyperlane is a delegated proof of stake (PoS) chain protocol that validates and secures cross-chain communication via configurable consensus methods. In Hyperlane's network, each validator is responsible for validating every chain that Hyperlane is connected to, ensuring that cross-chain communication is secure and accurate. Inter-Blockchain Communication Inter-Blockchain Communication (IBC) is the standard protocol for blockchain interaction in the Cosmos Network, which is designed to enable interoperability between different blockchains. IBC defines a minimal set of functions that are specified in the Interchain Standards (ICS), which define how blockchains can communicate and exchange data with each other. One example is Osmosis, a DEX that enables users to swap tokens between different blockchains. Osmosis utilizes the IBC protocol to enable seamless swaps of tokens from different chains, allowing token holders to directly benefit from the interoperability that IBC offers. Avalanche Warp Messaging Avalanche Warp Messaging (AWM) is designed to be flexible and allow developers to create their own messaging specifications to power communications. The AWM specification itself requires an array of bytes, an index of who participated in the BLS Multi-Signature, and the BLS Multi-Signature. AWM makes it easier for developers to build powerful DApps on the Avalanche network. BTC Relay BTC Relay is a chain relay to be deployed in a live setting. It enables the submission of Bitcoin block headers to Ethereum. By doing so, it provides a way to verify the inclusion of Bitcoin transactions on the Ethereum blockchain, creating a trustless bridge between the two networks. Cross-Consensus Message Format The Cross-Consensus Message Format (XCM) allows different consensus systems to communicate with each other on Polkadot. With the successful merger of XCM version 3, developers can build applications that enable bridges, cross-chain locking, exchanges, NFTs, conditionals, context-tracking, and more.  For example, the Moonbeam XCM SDK primarily supports XCM token transfers, allowing developers to interact with the Polkadot network using XCM. Axelar Axelar offers a solution for cross-chain communication through the use of the General Message Passing protocol, allowing developers to build decentralized applications that can operate across multiple blockchain networks. Axelar also provides secure interchain communication through delegated PoS (dPoS) for users bridging tokens. For example, Axelar's bridging app, Satellite, connects the Ethereum-based BUSD to Cosmos, enabling interoperability between the two ecosystems. Benefits and Limitations of Interoperability The benefits of blockchain interoperability is clear. Users can potentially conduct transactions across different blockchain networks seamlessly, without the need for centralized intermediaries. It also reduces fragmentation, improves interoperability within the broader blockchain ecosystem, and opens up new business boundaries and models. There are some limitations to these solutions, however. Different blockchains may have different security solutions, consensus algorithms and programming languages, which can add to the technical complexity. These solutions can potentially increase the probability of attacks and present new governance challenges among different blockchain networks. Closing Thoughts Cross-chain interoperability solutions have the potential to significantly improve the efficiency and functionality of blockchain networks by enabling communication, data, and value transfers among different networks.  The future development of cross-chain interoperability is expected to foster greater innovation between different blockchain networks and new possibilities for blockchain applications. These can lead to a more connected and user-friendly blockchain ecosystem. For widespread use, however, various cross-chain interoperability solutions need to achieve more stability and security. It’s unclear which solution will provide the most efficient, stable and secure tools.   Further Reading: What’s a Blockchain Bridge? What Is Layer 0 in Blockchain? What Is Layer 1 in Blockchain? Disclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.    

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