mercedes classe c amg: Februari 2022

Senin, 28 Februari 2022

BlockWallet Officially Launches a Privacy-Oriented Wallet for the DeFi Market

BlockWallet has officially launched its privacy-oriented wallet for the burgeoning Web 3.0 ecosystem. This non-custodial wallet is compatible with several browsers, including Google Chrome, Microsoft Edge, Brave and Opera.

As per the announcement, BlockWallet will introduce privacy features for users in the DeFi market. This will enable anyone to send funds anonymously while concealing their financial status (account balances). A feature that is lacking in popular non-custodial wallets such as Metamask.

The project’s CTO Iman Hossini commented on the launch, noting that privacy is a core feature in setting the stage for the Web 3.0 economy,

“When users interact with Web3, it poses significant risks because now the financial data is also attached to the user. As we build Web3, we should not make the same errors as before but aim to create a truly private Web3 experience. BlockWallet launch is a significant step towards this goal.”

Notably, the BlockWallet ecosystem is designed for both market-savvy and new crypto users. This privacy-focused solution will enable crypto participants to avoid being tracked by potential hackers or authoritative governments. Simply put, BlockWallet conceals DeFi users’ on-chain trail hence giving back control over their data.

The wallet is able to achieve this level of functionality through cryptographic proofs and proxy integrations with privacy-built browsers such as Tor. BlockWallet’s smart contract infrastructure pools users’ funds into one pool, generating a new address for each transaction. This means that on-chain ‘analysts’ cannot track the sender’s original depositing address.

BlockWallet CEO Aleksandras Gaska was keen to emphasize the growing need to protect Web 3.0 users from privacy violations,

“In a world where privacy violations are commonplace, it is imperative to protect your privacy. However, not everyone has the skills or time to do that. I am happy that we can finally present a practical solution for the blockchain world that allows everyone and everywhere to take ownership of their privacy.”

With the DeFi ecosystem going mainstream, BlockWallet will enable participants to access multiple DApps that are hosted on smart contract blockchains such as Ethereum, Fanton, Binance Smart Chain (BSC) and Avalanche. This non-custodial wallet will also integrate Metamask snap plugins to facilitate a smooth transfer of funds between the two ecosystems.

On the security front, BlockWallet underwent a rigorous beta testing round, featuring over 2,000 community members. In addition, there is an ongoing bug bounty program where white hat hackers can receive up to $150,000 depending on the vulnerabilities found. Future iterations of BlockWallet will include an enhanced security and user experience.

It is also noteworthy that BlockWallet has attracted prominent crypto investors, including X21 Digital, Wood stock, Spark Digital Capital and Four Season Ventures. The project raised $1.8 million in its private token sale round; the native $BLANK token now trading on several crypto exchanges with a market cap of $16 million as of writing.

from NewsBTC https://ift.tt/oIa4bLt
Find The best Lending Program Top CryptocurrencyLending Program

Bitcoin Volumes Surge As Ruble Plummets

The cryptocurrency craze has spread to countries across Europe as people search for ways to protect their money from war-torn nations.

Data from the crypto tracking site Kaiko shows that ruble and Ukrainian hryvnia-to-crypto volumes have shot up in recent days, reaching multi-month highs.

Related Reading | Bitcoin Staggers After Putin’s Nuclear Deterrence Alert Warning

The data show that trading volumes in the ruble-bitcoin (BTC-RUB) pair are at historic high levels. Last time we saw the same level was in May 2021.

The increase in Ruble-denominated Bitcoin (BTC) trade volumes is thanks largely to the recent strengthening of Russia’s currency.

On February 24th, just days before tougher economic sanctions were set to go into effect and effectively cut off Russian banks from SWIFT system payments processing capabilities. As a result, BTC traded on local exchanges skyrocketed by 1.5 billion RUB.

Investors in Ukraine were equally nervous. The bitcoin-Ukrainian hryvnia (BTC-UAH) pair spikes over the week, even though still low according to Kaiko’s Medalie, who said that traders have been coming into buying cryptocurrency as a hedge against potential economic chaos caused by Western sanctions.

It seems that the markets are taking notice of what’s going on in Eastern Europe. Tether-ruble and tether hryvnia trading volumes had also increased relative to an invasion.

Bitcoin added almost 10% to its value today | Source: BTC/USD chart on Tradingview.com

Recently, the cryptocurrency world has been experiencing a massive increase in BTC-RUB and BTC-UAH pairs trading volume. Some of the biggest exchanges where this can be seen include Binance and LocalBitcoins, which allow for peer-to-peer Bitcoin exchange.

Fiat Failing Against Bitcoin

Investors are running from Russia in droves, looking for safety wherever they can find it. The rising volumes reflect a major rush of people seeking protection as fears about the country’s economy grow along with worries over sanctions and what could happen if things get worse – including echoes across Eastern Europe caused by these international issues.

Related Reading | TA: Why Bitcoin Must Close Above $40K For Trend Reversal

The buy-side pressure has been coming for a few days now. It seems like gold, US Treasuries, USD, or Swiss Francs are among the assets people want. Bitcoin also saw high prices near $40,000 but continues to fall alongside stocks. There’s no telling what will happen next in this crazy cryptocurrency world.

With the falling value of their currency, Russian citizens have been pushing for protection. As a result, the Central Bank has moved to adopt measures meant in defense against further depreciation and inflation hits.

The country has taken unusual steps in an effort to tighten its monetary policy and increase investor confidence. They’ve raised key interest rates from 9% all the way up 20%. Additionally, they ordered local brokers not to provide services for foreigners seeking to sell securities as well banned any advertisements related to cryptocurrency trading.

Featured image from Pixabay, Chart from TradingView.com

from NewsBTC https://ift.tt/RP1HYjU
Find The best Lending Program Top CryptocurrencyLending Program

Possible Scenarios For Bitcoin, How The Market Has Reacted To Past Wars

Bitcoin has been moving sideways around its current levels as the war started by Russia with Ukraine rages on. The first crypto by market cap could see more bloody days ahead, as uncertainty about the outcome, sanctions to the Russian government, and their impact across the market increases.

Related Reading | Digital “Ukrainian” for Sale: All Funds Will Be Spent on the Needs of the Army

At the time of writing, Bitcoin was trading at $38,284 with 0.7% profit in the past 24-hours. However, it quickly managed to get above previous resistance and trades at $40,561 with a 7.66% profit on the daily chart.

BTC bouncing back on the daily chart. Source: BTCUSD Tradingview

In a recent report published by QCP Capital, the firm claims the Luna year of the Tiger has been marked by important negative events which took their toll on global markets. These include the Chernobyl Disasters, the Cuban Missile Crisis, the Korean War, and now the Russian invasion of Ukraine.

Due to the international sanctions on Russia, its equity, bonds, and currency have been heavily affected. This reaction, QCP Capital said, could contribute with a rapid de-escalation of the conflict.

Thus, buying the Bitcoin dip as it stumbles back into previous lows could be a profitable option for investors. QCP Capital reviewed the market reaction to previous conflicts in an attempt to assess a potential future reaction from the market. The report claims:

Historically, war-related sell-offs have been great buying opportunities, particularly large-scale war involving superpower. In the Vietnam war (1964) Gulf War (1991), Afghan War (2001), Iraq War (2003) and Crimean Crisis (2014), markets saw positive returns for 3-6 months after the invasion.

The firm believes the current situation has been following the pattern as Bitcoin and other assets seem to be bouncing back. This situation could sustain itself, at least for the short term, but QCP Capital recommends cautions as there are many potential global headwinds.

Source: The Crypto Circular by QCP Capital

Daniele Casamassima, CEO at Pure Fintech told NewsBTC the following on the current situation:

This uncertainty in the crypto market is further hindered by the fact that there is now a close correlation between financial markets and global crypto markets.

Break Or Bounce, Why Bitcoin Could Follow Old War Patterns

A similar situation occurred in 2001 with the U.S. invasion of Afghanistan, the report said. At that time, the market bounce back for 3 months, and then returned to a downtrend that broke previous lows.

Source: The Crypto Circular by QCP Capital

For Bitcoin, this scenario could lead it to revisit the low $30,000 or break below to last year’s low around $28,880. One key different with previous conflicts, as QCP Capital noted, is the imminent hike in interest rates from the U.S. Federal Reserve.

In 2021, interest rates were at 6.1% and today they seem to only trend to the upside which could negatively impact global markets. Others believe the opposite, if the conflict extends, the FED and other central banks could used it as an excuse to delay any shift in monetary policy.

Related Reading | TA: Why Bitcoin Must Close Above $40K For Trend Reversal

Casamassima added the following on a potential bullish thesis for Bitcoin:

The digital currencies, although badly affected at the moment, in the long run could become the only feasible option for those people that are the most affected by new economic sanctions. Therefore the bear market could turn into a bull market.

from NewsBTC https://ift.tt/LZzmP0q
Find The best Lending Program Top CryptocurrencyLending Program

OVRLands Mints 778k NFTs on Polygon

And so it’s another significant feat achieved by OVRLand.

OVR (a non-fungible tokens – NFTs) metaverse has hit another milestone by minting over 778k NFTs in about six days to become arguably the biggest and most active gas burner on Polygon. Currently, OVRLand has the largest owners community, more extensive than the Metaverse incumbents like the Sandbox and Decentraland.

According to the team, OVR boasts the most active NFT community in the metaverse.

NFTs are basically digital assets that are situated on blockchain technology. Ideally, they’re a unique set of non-interchangeable tokens that offer individuals the power to own as well as fully control a digital item.

Every NFT comes with a specific digital identifier that can’t be copied, subdivided, or substituted. That way, together with the immutability that blockchain technology offers, makes NFTs valuable assets for not only certification of authenticity but also ownership.

Also, OVR is a decentralized structure for AR metaverse, whereby the physical space integrates with the digital world to come up with an excellent user experience that features unlimited possibilities.

There’ll be over 1.6 trillion OVRLands in the OVR metaverse. Every LAND measures about 300 sq. meters and has a hexagonal shape, given that the contact points between every hexagon are lateral with a similar distance always from the center.

OVR migration to Polygon Network means that now users can easily make payments, while other features have been made easy. Moreover, the transition means that Merkle Proof and minting functions have been transferred effectively from the Ethereum network to Polygon. Therefore, it means that users can mint OVRLands successfully on the Polygon Network for barely a few cents.

Interestingly, the cost of minting OVRLands is reduced by adding the Polygon Network payment to the BSC and Ethereum payment scheme in the primary market. That way, it massively lowers the cost of transactions.

Moreover, the secondary market is already up and running too. With it, users can enjoy several benefits like;

Batch minting of every light-minted OVRLands.
Direct NFT minting of the new primary market sales.
Users who registered without the declaration of personal custody wallets will have an opportunity to generate one.
The bridge of NFT from Ethereum to Polygon.

There’s much more on the cards; you just need to stay tuned!

from NewsBTC https://ift.tt/lPm4fXQ
Find The best Lending Program Top CryptocurrencyLending Program

Big Tech Moves Reveal Divergent Approaches to Blockchain and Web3

2022 is shaping up to be a big year for big tech. Over recent weeks, Facebook has run into problems after the company’s fourth-quarter earnings call revealed its metaverse aspirations had caused a $10 billion hit to the bottom line. It’s hardly surprising given the lukewarm reception to its sanitized, centralized VR work meetings.

Shareholders will no doubt be worried by the fact that the firm is squaring up to Microsoft, which has spent years dominating in office applications, including its Teams app, and is now intent on launching its own enterprise-capable metaverse features.

However, this approach – to attempt to create a digital metaverse that will somehow upgrade or replace our time spent online is an odd one. Even more so, when you consider the vastly different approach being taken by rivals Google and Amazon. The most recent news from the Google camp is that the firm is hiring a “legion” of blockchain experts to help expand its business in blockchain applications.

Google’s idea seems to be to play alongside the players in the established blockchain space, an approach that has been in evidence in various moves over recent years. In 2019, the firm showcased how developers could use Chainlink oracles to bring its BigQuery data into blockchain smart contracts. The move ended up catapulting Chainlink into the top-ranking crypto projects.

Last year, the firm joined forces with Dapper Labs, the startup behind the hit NBA Top Shots. The collaboration was for Dapper Labs to use Google’s world-beating infrastructure to help scale and support the growth of the Flow blockchain, which Dapper Labs develops.

Google and Amazon Supporting Metaverse Development?

Google’s approach is similar to Amazon’s. The firm’s AWS infrastructure is widely deployed by node operators on blockchain networks. So much so that one analyst from the crypto investing arm of Andreessen Horowitz recently pointed out that “Amazon is doing more for the metaverse via node hosting than “Meta” or Microsoft will ever accomplish’ [sic].

It’s beyond question that blockchains and blockchain applications are more powerful with the backing of big tech firms. Not only do these firms have vast resources in terms of infrastructure and investment, but they also have unparalleled access to data, which can seriously level up blockchain capabilities.

Consider the afore-mentioned tie-in with Chainlink. Google’s willingness to engage with Chainlink as a middleware oracle provider demonstrated how a smart contract could receive price data from Google’s own BigQuery database. By 2021, DeFi was a booming market, powered in no small part by Chainlink’s decentralized price oracles, and the project now boasts national telecoms firms Swisscom and Deutsche Telekom among its node operating network.

Bringing AI On-Chain

Can other projects capitalize on this kind of success? While there’s currently much hype around metaverse-type projects and NFT drops, it’s more difficult to drum up excitement about infrastructural developments. But Oraichain is leveling up the blockchain oracle game with the introduction of AI. Oraichain provides a comparable service to other oracles, but with a focus on AI APIs and the quality of AI models – a kind of layer one for AI-based services and dApps.

Oraichain, an oracle service is live with its Data Hub feature already operational for AI providers. The Data Hub is a data-focused platform that offers both individuals and businesses a data marketplace, cloud services, data analytics, data request, and labeling service.

As part of Cosmos, Oraichain is already operating in an environment built around the principles of interoperability and cross-chain collaboration. It offers bridging functionality to other blockchains such as Ethereum and BSC. By bringing AI capabilities and data on-chain, Oraichain is available to support a wide variety of AI use cases, including DeFi, manufacturing, healthcare, academia, and more.

Based on the way events are panning out, it seems that we have two divergent scenarios playing out. At the front end, Facebook and Microsoft are going head-to-head against the decentralized Web3 ecosystem in a bid to secure supremacy in the user acquisition wars. However, behind the scenes, Google and Amazon are playing together with node operators and infrastructure developers to create a robust foundation of data and platforms capable of supporting the next generation of the internet.

from NewsBTC https://ift.tt/la7RT8Y
Find The best Lending Program Top CryptocurrencyLending Program

Authtrail Launches Invitation-Only Community Round To Allocate 30 Million $AUT Tokens

Authtrail, the Moonbeam Network-based data integrity SaaS platform, has revealed its first invitation-only community round token event to spark even more widespread adoption of its platform. Per the Authtrail team, this community round is a one-time opportunity for investors and contributors to acquire the platform’s native $AUT token at a lower price than the upcoming public crowd sale.

Following its successful fundraising round in 2021, where it raised $3.6 million from a multitude of investors and venture capital firms, the Authtrail team aims to raise as much as $6 million from the community round by distributing 20% of the maximum supply of 150,000,000 AUT tokens. The upcoming community round empowers users to gain the first access to the AUT token at just $0.20 per token – half the issuance price of the token for the public crowd sale.

There will be two rounds in the community round event. The first round is only open to the first thousand whitelisted participants, with minimum contributions starting at $1,000 and maximum amounts capped at $5,000 per user. The second round is open to all whitelisted participants, with minimum contributions starting at $1,000. There is no upper bound for purchases during the second round, and the only ceiling is the total amount available.

Funds raised from the community round event will be used to increase mainstream adoption of Authtrail and its suite of products within global enterprises. However, the community round event is only accessible to Authtrail community members and requires whitelisting. If you’re already part of the community, you can register your account on the official website. Importantly, the community round isn’t open to residents from the United States, Canada, China, Cuba, Syria, Iran, Sudan, Singapore, the Democratic People’s Republic of Korea, and the People’s Republic of Crimea Region of Ukraine.

Enabling Global Enterprises Leverage The Power Of Blockchain

As one of the few projects in the blockchain space able to bridge the old economy with Web 3.0, Authtrail is taking data management to a whole new level. By design, Authtrail offers a suite of blockchain-powered tools that enterprises can use in a user-friendly, intuitive, and cost-effective manner to ensure and inspect data integrity.

The Authtrail ecosystem offers a blockchain-based data integrity SaaS platform and adjacent

applications that facilitate a faster, safer, and more reliable way to verify enterprise data. At the same time, the platform also enables traceability of transactions by allowing users to track the execution of individual operations within the data generation process. As a result, it has positioned itself as an easy-to-use and highly affordable enterprise-grade SaaS solution.

To optimize their services even further, the Authtrail team recently migrated their product from Ethereum to the Moonbeam Network. Harnessing the inherent features of Moonbeam and Polkadot, Authtrail ensures fast transaction throughput, user-friendliness, and low transaction fees. Additionally, it also takes advantage of Polkadot’s embedded interoperability and shared security features, as well as Moonbeam Network’s on-chain governance, cross-chain integrations, and staking features.

Authtrail is powered by its native $AUT token, which acts as credits for executing transactions on the platform and also serves as the de facto utility token for the protocol. It is important to note that the AUT token model is deflationary. This means that when the tokens are burned after use, the total supply decreases. This, in turn, reduces the total amount of the utility token in circulation, helping bolster the value of the AUT token. As such, the community round is the most cost-effective method for community members to obtain the AUT token and join Authtrail’s journey towards becoming a go-to solution for enterprise data management.

from NewsBTC https://ift.tt/veKw92Y
Find The best Lending Program Top CryptocurrencyLending Program

Polkadot, Vechain Founders Pledge Over $10 Million In Crypto To Ukraine

More support is pouring out for Ukraine as the country takes to crypto donations to fund its military. It has garnered support from top players in the crypto space like exchange giant Binance and others who have donated almost $20 million to the country. Now, it is attracting the attention of top founders in the space who have pledged significant sums to Ukraine.

Crypto Founders Pledge Big

Gavin Wood, the founder of leading cryptocurrency Polkadot has come out to express support for Ukraine. The country had posted multiple crypto wallet addresses last week as it solicited funds for the nation which had been invaded by world superpower Russia. Being a smaller country, there is not much in the way of funds to fight Russia but the world has rallied around Ukraine.

Related Reading | A Crypto War Is Raging – Crypto Donations Fuel Russia-Ukraine War

Wood took to the comment section to show his support for the cause. The founder told Ukraine that he would personally donate $5 million if a DOT address was put up.

If you post a DOT address I'll personally contribute $5m.

— Gavin Wood (@gavofyork) February 27, 2022

Wood is not the only crypto founder that has made a significant pledge to the country. Sunny Lu, Founder, and CEO of Vechain has also made a pledge. Also taking to the comment section, Lu made an even higher pledge. He announced that he would donate $8 million to the cause when a VET wallet address is added to the list of official wallet addresses.

Setup a VET wallet and leave VET address, I’ll donate $8m. Nothing else matters comparing people’s life.

— Sunny LU, VeChain Ⓥ (@sunshinelu24) February 28, 2022

The Importance of Safety When Using Self-Custody Platforms

Safety is one of the most important topics of the crypto sphere, and with good reason. Even the most significant self-custody platforms, such as OpenSea, are vulnerable to malicious behavior and attacks. Read on to find out why security should be your number one priority, and learn from a recent, serious phishing attempt on OpenSea.

What does self-custody mean?

Essentially, self-custody in crypto refers to holders’ sole responsibility to handle and store their information data such as private keys. Consequently, a self-custody platform does not keep any kind of record of private keys, and thus delegates the task of safeguarding them to key owners.

About the OpenSea phishing attack

Phishing is a type of malicious activity that manipulates the victim into sharing confidential credentials or information, mostly by fake communication. Phishing is a serious threat even today, and it’s also one of the hardest attacks to discover, as it’s disguised as ordinary messaging.

To demonstrate how real this issue is, here’s the recent case of OpenSea, one of the most important Non-Fungible Token (NFT) marketplaces of its time. According to official sources, the phishing attack influenced 32 platform users, who actually suffered damages to their holdings because of the event. The company’s CEO, David Finzer, highlighted that the attack is likely not directly connected to OpenSea’s platform, and users signed the malicious action elements somewhere else, which just underlines the significance of keeping your sensitive data safe when using a self-custody platform.

Overall, while some rumors said that the stolen value was somewhere in the $200M range, David Finzer mentioned that the address, which they believe to be the hacker’s, has $1.7M to its name, which is still an outstandingly high figure.

Why should safety be a priority?

With the advancement of technology came the progress of hacks as well, and so nowadays, it’s more important than ever to take all the necessary precautions that aim to prevent such events. This is especially true when using self-custody platforms, since it’s the users’ responsibility to safeguard their private information, including their private keys.

The reason why safety should come first is quite straightforward: the more one accumulates, the better the target for hackers, and if security is neglected, all those hard-earned funds can permanently disappear, faster than one would think.

Implications of safety while trading

Safety is also vital when it comes to trading cryptocurrencies, be it on a centralized exchange (CEX), or a decentralized exchange (DEX). Unfortunately, there are very few platforms out there that actually put sufficient emphasis on the topic. A great example of a DEX that ticks the box of high-level security is FOMODex, which is a multichain automated market maker (AMM), supporting Binance Smart Chain (BSC), Ethereum (ETH), and Polygon (MATIC). The platform recognized that without proper safety measures, everything else is basically useless, as results are only as good as their protection. Therefore, its team reportedly created FOMODex to be one of the most secure DEXs, despite its multichain environment and high volume of transactions. To further emphasize this, FOMODex launched as the first DEX that is regulated in the U.S., which means users’ protection is elevated, and grounds are provided for legal cases, should fraud occur. This is a remarkable achievement, as U.S. regulators are notoriously hard to get approval from.

Final thoughts

As demonstrated by both theory and real-world events, safety is truly one of the most overlooked, yet extremely vital aspects of dealing with cryptocurrencies. However, with next-generation platforms and users recognizing its importance, proper security will become the number one feature users look for when choosing where to conduct business in the near future.

from NewsBTC https://ift.tt/m7jS3dC
Find The best Lending Program Top CryptocurrencyLending Program

Hacking Attacks: Ethereum vs Terra Flash Loans

It is standard for DeFi platforms to offer over-collateralized loans, in which borrowers deposit more in assets than they withdraw. Some DeFi platforms (like AAVE) support a newer type of loan, the flash loan. When a loanee takes out a flash loan, no collateral is required. This is achievable because flash loans are repaid within the same transaction that they are taken out – a smart contract is used to rapidly perform a series of transactions that result with the loanee ultimately repaying the loan.

Flash loans are atomic, meaning that they are only processed if all included transactions are executed. If they are not, they are rolled back. This enables individuals to borrow massive sums with almost no risk. It is common for borrowers to withdraw tens of thousands, millions, or even tens of millions of dollars at once, albeit for a brief period.

What Are Flash Loans Used For?

Flash loans have three primary uses: trading arbitrage, collateral swapping, and self-liquidation. Here’s an explanation of each:

Trading Arbitrage: Different exchanges may charge different prices for certain assets, opening opportunities to purchase and sell the same assets on different exchanges for a profit. This process is called “trading arbitrage”. While it can be done manually, doing so usually doesn’t yield much of a profit, since the prices of these assets usually only differ by a fractional amount. Flash loans can be used to automatically execute large arbitrage orders, quickly turning a much larger profit.

Collateral Swapping: Changing the base collateral used in DeFi loans can be frustrating and time-consuming, especially for those who diversify their collateralized assets. Flash loans can be used to quickly pay off loans in order to free locked assets, then swap those assets for others.

Self-Liquidation: If a traditional DeFi loan’s base collateral decreases in value too greatly, it will be liquidated. Meaning, collateralized assets will be sold at a discount in order to repay the loan, yielding a loss for the borrower. Flash loans can be used to self-liquidate, fully paying off the loan and withdrawing the collateralized assets without a loss.

What Are The Real Risks of Flash Loans?

Because flash loans are atomic, they are risk-reduced. However, they are not entirely risk-free. Flash loans incur network fees regardless of whether or not they succeed. This exposes loanees to front-running, in which other parties execute identical flash loans while paying higher network fees. Front-ran flash loans are processed first, often leaving original loanees with nothing but network fees to pay.

Most flash loan platforms use the Ethereum Network because it was the first major DeFi-supportive network to gain mass adoption. With Ethereum gas fees as high as they are, front-running has become a major issue for those seeking flash loans.

The use of Ethereum for flash loans poses another serious risk. Ethereum smart contracts are vulnerable to reentrancy attacks, during which hackers withdraw all funds stored within a smart contract. This is done using an external smart contract that withdraws funds multiple times before the withdrawn balance is confirmed.

Ethereum smart contracts are uniquely vulnerable to reentrancy attacks due to Ethereum’s Solidity programming language. Technical jargon aside, Ethereum smart contracts are only secure if coded in a very specific way. Minor mistakes can leave them highly vulnerable. In fact, a single misarranged line of code allowed hackers to steal USD 60 million of Ether in the infamous “The DAO” hack.

How To Avoid Flash Loan Risks

If a reentrancy vulnerability is found within the smart contracts of popular Ethereum-based DeFi platforms, flash loaners could lose millions. Needless to say, many are looking for DeFi solutions outside of the Ethereum Network. One alternative that has been gaining popularity recently is White Whale, the first cryptocurrency project to offer flash loan UST arbitrage within the Terra ecosystem.

Flash loans on Terra are much more secure than flash loans on Ethereum. This is because Terra is built using Cosmos, which powers several other popular projects like Binance Chain. Cosmos’ smart contract engine (CosmWasm) does not allow calls to external smart contracts, and Terra’s smart contract language is far more forgiving than Ethereum’s. This makes White Whale’s arbitrage system immune to reentrancy attacks.

As for frontrunning, it is an inescapable risk. The best course of action is to reduce its likelihood and the damage that it causes. Most front-running attacks are performed on the Ethereum Network by bots, which take advantage of Ethereum’s high and volatile gas prices. Switching to a network with lower and more stable network fees can greatly reduce frontrunning risk.

White Whale offers a sleek and easy web-app interface that makes arbitrage accessible to everyone.

from NewsBTC https://ift.tt/vdU5ezK
Find The best Lending Program Top CryptocurrencyLending Program

The Evolution of Play-to-Earn Games and the Top Five Games to Look Out For

The rise of blockchain technology has led to a paradigm shift in the gaming industry. Non-Fungible Tokens(NFTs) and cryptocurrencies allow for Play-to-Earn mechanics that let players earn revenue through in-game activity, turning the traditional Pay-to-Play model on its head. The King is dead, long live the King!

Play-to-Earn games are one type of blockchain game in which players earn unique NFTs through in-game advancement. In blockchain gaming, players have complete control over their digital assets. In traditional games, the player may lose access to their collectible items if the server is shut down. However, blockchain gaming allows gamers to trade their items, sell them, or potentially use them across different games.

The Play-to-Earn industry is on the rise. According to Forbes, Play-to-Earn games are generating billions of dollars through transactions involving NFTs. Popular games such as Axie Infinity, owned by the Vietnam based company Sky Mavis, boast 2.5 million daily active users. Axie was the first Ethereum based NFT game to reach 1 billion USD in sales last August. The major game studio Ubisoft also incorporated NFTs in its latest release, Tom Clancy’s Ghost Recon.

With the introduction out of the way, here are the top Play-to-Earn games to look out for in 2022.

Apeiron

A cross between god-game simulations and card-based Action Roleplaying Games (ARPGs), Apeiron has many perks that put it high on the list. Inspired by classic god games such as Populous, Black and White, and Spore, the game incorporates a dynamic alignment system that allows players to choose what kind of god they wish to be in what they describe as a “mystical and variegated universe”.

One strength of the game is in its tri-token structure. Many popular NFT games have two tokens; one that serves as an in-game currency and a limited Proof of Stake governance token that acts as a company share. Apeiron introduces a third form of currency to promote high-level gameplay. The third currency rewards team play and Guild level competitions, staving off deflation with seasonal large-scale events and allowing for a dynamic economy in the late game stage.

Another strength is the game’s integration into the NFT Metaverse. Apeiron has sights set to an integrated virtual world where players will be able to use their assets from other web3 projects in Apeiron. Lastly, Many popular games require the purchase of NFTs to enter the game, whereas Apeiron will be introducing a new Free-to-Play, Play-to-Earn ethos that allows for new players to join free of cost and earn their way through the game. With its solid fundamentals, forward vision, and flashy design, Apeiron has earned its spot on this list.

Cradles: Origin of Species

Promising to disrupt the entire blockchain gaming world, Cradles: Origin of Species is a virtual reality game that allows the player to immerse themselves, take the form of any species, and explore their vast virtual world. In addition to roleplaying features, the game allows the player to build an entropy-increasing world. Players must ensure the normal operation of the whole world ecosystem and urban area or they risk chaos and disorder. Comprised of a Main city and Adventure zone, the game promises unsurpassed freedom and creativity. The player travels between zones and through time to gain, trade and craft items to advance their character and their city. You can also be a dinosaur – a key reason why it’s made its spot on this list.

BlockLords

This grand strategy game set in medieval Europe allows players to create heroes, amass an army, and conquer the metaverse. Through trade, conquest, and earning taxes on sales, gamers can create in-game, player-run governments. The limited number of cities on the map ensures fierce competition among players. The game’s grand strategy outlook and stark medieval vibes earn it a definite spot on this list.

Metasoccer

This game combines the lucrative worlds of video games, soccer, and sports betting to create an intriguing entry into the blockchain gaming industry. It allows two different roles for the player: owner, and manager, each with unique gameplay mechanics. It also allows players multiple paths for generating revenue. Including finishing the season on top, selling players, renting your stadium, betting, and of course, winning matches. With its popular subject matter, sleek design, and myriad avenues for earning crypto, Metasoccer is sure to make an exciting debut into the metaverse in 2022.

Blast Royale

This game pits players against one another in a survival-style match in which players fight using pre-selected equipment. The equipment is in the form of NFTs and is essential to determining the success of a player within a match. Blast Royale includes billions of pieces of unique equipment that players can deploy, all of which affect the performance and character of players. Players can create new equipment through two equipment pieces, repair equipment, earn experience for their equipment and upgrade equipment. Blast Royale’s metaverse allows for an infinite number of possibilities, and we are all in.

from NewsBTC https://ift.tt/ZW4hkCt
Find The best Lending Program Top CryptocurrencyLending Program

Minggu, 27 Februari 2022

TA: Why Bitcoin Must Close Above $40K For Trend Reversal

Bitcoin is struggling to clear the $40,000 resistance zone against the US Dollar. BTC must settle above $40,000 to start a steady upward move.

Bitcoin struggled to clear the $40,000 resistance zone and corrected lower.
The price is trading below $39,000 and the 100 hourly simple moving average.
There was a break below a short-term contracting triangle with support near $38,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a major increase if there is a close above the $40,000 resistance zone.

Bitcoin Price Faces Key Resistance

Bitcoin price remained in a positive zone above the $38,00 pivot level. BTC even broke the $39,500 resistance level. The bulls made a couple of attempts to clear the $40,000 resistance zone, but they failed.

The recent swing high was formed near $39,888 before there was a downside correction. There was a move below the $39,000 and $38,800 support levels. Besides, there was a break below a short-term contracting triangle with support near $38,800 on the hourly chart of the BTC/USD pair.

The pair is now trading below $39,000 and the 100 hourly simple moving average. A low is formed near $37,028 and the price is consolidating losses.

On the upside, an immediate resistance is near the $38,200 level and the 100 hourly SMA. The next key resistance is near the $38,500 level. It is near the 50% Fib retracement level of the downward move from the $39,888 swing high to $37,028 low.

Source: BTCUSD on TradingView.com

The main resistance is now near the $38,800 level. It is close to the 61.8% Fib retracement level of the downward move from the $39,888 swing high to $37,028 low. A clear move above the $38,800 resistance could send the price further higher. In the stated case, it could even attempt a clear move above $40,000.

Dips Limited in BTC?

If bitcoin fails to clear the $38,800 resistance zone, it could start a downside correction. An immediate support on the downside is near the $37,200 zone.

The next major support is seen near the $36,400 level. If there is a downside break below the $36,400 support, the price might gain bearish momentum towards $35,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $37,200, followed by $36,400.

Major Resistance Levels – $38,200, $38,800 and $40,000.

from NewsBTC https://ift.tt/ar2ucIv
Find The best Lending Program Top CryptocurrencyLending Program

Binance Donates $10M To Ukraine And Launches Emergency Relief Fund

It is no surprise that international support for Ukraine continues to grow following the invasion by Russia.

After Russia invaded Ukraine, experts from every sector started getting worried about worse cases. For example, cybersecurity experts started answering if a global cyberwar is about to unfold. The crypto money industry did not remain idle either.

Binance, the world’s largest crypto exchange by volume, has announced a $10 million donation to Ukraine. Also launching an emergency fund for the affected country. On his Twitter account, CEO CZ noted, “Our focus is providing on-the-ground support. We care about the people.”

#Binance is donating $10M to help the humanitarian crisis in Ukraine & @BinanceBCF launched the crypto-first crowdfunding Ukraine Emergency Relief Fund.

Our focus is providing on-the-ground support. We just care about the people.

https://t.co/2vLFFbf5ac pic.twitter.com/vNSo9F3x7i

— CZ Binance (@cz_binance) February 27, 2022

New Crypto Security Solution Protects Bitcoin, Other Digital Assets From Theft

When people evaluate the unpredictability of the cryptocurrency market, they can see why crypto security is so important.

Online crypto wallets and exchanges have been hacked in large numbers in the last 24 months.

“The value of cryptocurrency taken from victims climbed by 82% to $7.8 billion in 2021,” Chainalysis’ most recent Bitcoin Crime Report shows.

Bitcoin, Ethereum, and other cryptocurrencies are increasing in value, and these findings demonstrate that cryptocurrencies operate in a chaotic environment that the traditional financial system ignores or refuses to recognize.

Crypto Shield: For Crypto Security

Because cryptocurrencies lack regulation, they cannot be insured by the Federal Deposit Insurance Corporation (FDIC) like regular bank deposits.

Boost Insurance and its InsurTech partner Breach Insurance have introduced Crypto Shield, a cryptocurrency insurance solution.

According to ZDNet, the service would be used whenever cryptocurrencies are stored through exchanges such as Coinbase or Binance in the United States and other countries.

Total crypto market cap at $1.734 trillion in the daily chart | Source: TradingView.com

Related Article | A Crypto War Is Raging – Crypto Donations Fuel Russia-Ukraine War

Retail wallet owners may use Crypto Shield to protect their bitcoin against theft. People who Crypto Shield insures may be compensated for the value of their coverage if the custodian is hacked or falls victim to a social engineering attack, leading to the loss of assets.

Crypto Shield, which became online on February 15, is primarily concerned with bitcoin theft and crypto security. Shield protects 20 cryptocurrencies, including Bitcoin, Ethereum, Ripple, Tether, Solana, Dogecoin, and stablecoins.

Bitcoin & Ether Latest Price Movement

This week has started slowly for major cryptocurrencies. As February ends, both Bitcoin and Ethereum show negative patterns.

Bitcoin is now valued at $39,398.04, with highs of $39,537.5 and lows of $35,000 for the month. It has increased in value by roughly 0.60% since February 26 and is now unstable.

While Ethereum is presently trading at $2,800.62 as of this writing, it has only increased 1.55% in the last 24 hours. It has a recurrent low of $2,681.79 and a recurrent high of $2,855.22.

Both cryptos have lower return yields than two months ago, which is due to theft-related issues and the Ukraine-Russian war in the crypto-market. Bullish tendencies are still probable as the year progresses.

Breach And Boost Collaborate On Security

Meanwhile, Boost and Breach collaborated to find and gain reinsurance coverage from Relm Insurance, assuring organizations’ participation in the cryptocurrency ecosystem.

“My team and I are thrilled to join forces with Breach’s concept for the first crypto-insurance for retail wallet holders,” Alex Maffeo, CEO and Founder of Boost, said.

“Our objective is not simply to make insurance more simple and accessible for end-users, but also to aid creative businesses like Breach in developing new insurance products for neglected areas,” Maffeo said.

Related Article | Cryptocurrency Prices Soar On Possibility Of Russia-Ukraine Talks

Featured image from Changelly, chart from TradingView.com

from NewsBTC https://ift.tt/dqfWvra
Find The best Lending Program Top CryptocurrencyLending Program

LUNA Spikes: Is It A Good Time To Buy?

LUNA is a blockchain used for launching algorithmic stable coins and is now among the top DeFi platforms when it comes to total value locked up in circulation.

LUNA has been trending higher over the last few days, but it gained even more momentum over the previous 48 hours. By closing 40% greater, LUNA was among this past week’s biggest gainers.

Related Reading | Bitcoin Surges to $40,000 After Breaking Key Resistance

The news that Luna Foundation Guard (LFG) created a Bitcoin-denominated reserve has caused markets to react positively. This will act as an extra layer of stability and security for Terra USD, which is currently struggling with sharp fluctuations in prices due to its low liquidity status on exchanges.

LFG has announced that it will be investing $1 billion towards building up its Bitcoin reserves. The best part about this news? All of LFs’ coins are locked for 4-years, which means they won’t be able to trade until after those periods. This increases investor confidence across multiple platforms, including LUNA, with demand rising accordingly. Because investors look for safe-haven assets during these uncertain times.

The recent move by the US Treasury to create a Bitcoin reserve is being met with rave reviews from analysts and experts. As a result, this new development should lower price fluctuations for UST.

The Mechanism

UST is a stablecoin fixed to the US dollar via an algorithm. Unlike other centralized cryptocurrencies, it isn’t backed by anything but Luuna (the company behind them). If prices fall off their peg and go lower than $1 per token, UST can be swapped for LUNA (which is minted). And can be sold for $1, providing arbitrage gains for investors. The opposite happens when demand increases; burning more luna means higher prices because there’ll be less overall supply coming into circulation.

Luna trying to break its $77.17 break | Source: LUNA/USD Chart on Tradingview.com

Terra’s introduction of a Bitcoin reserve could be seen as the next important step in reducing volatility within its ecosystem. This is because it reduces the correlation between UST and bitcoin. This means that if traders want to swap out their coins for different assets, they will have plenty available with this new addition.

Is It Worth Buying LUNA Now?

LUNA’s price has been on an upward trend recently, and it was trading at $74.34 on February 26th, 2022. The coin increased13% in 24 hours.

Related Reading | Cryptocurrency Prices Soar On Possibility Of Russia-Ukraine Talks

LUNA is currently trading just below the $77.17 weekly support level, with a strong uptrend since February 24th. So keep an eye on this one – it might be time to buy more shares before they climb higher in future updates.

If you’re looking to invest in crypto, buying volumes increase, and Luuna is a good bet. The altcoin has been pushing through recent resistance levels with ease. In fact, it could test prices above $90 before the end of February.

With LUNA currently trading in a strong uptrend, the crypto is not too late to turn bearish. If this happens, investors should look out below $65 as support, which could signal an upcoming downtrend may be near.

Featured image from Flickr, Chart from TradingView.com

from NewsBTC https://ift.tt/Wo0LBZx
Find The best Lending Program Top CryptocurrencyLending Program

A Crypto War Is Raging – Crypto Donations Fuel Russia-Ukraine War

More than $4 million have already been contributed to non-governmental organizations helping Ukraine from Russia’s unprovoked invasion of the country. A “crypto war,” according to analysts, has just begun.

Meanwhile, as the panic of war depletes the country’s ATMs, many Ukrainians resort to Bitcoin.

Elliptic, a blockchain analysis company in London, provided statistics on Friday revealing that crowdfunding has increased since Thursday, following Russia’s invasion of Ukraine.

“On the 24th of February alone, one NGO got over $675,000 in Bitcoin, and by 9.30 a.m. on the 25th, it had already received more than $3.4 million – over $3 million of which was provided by a single contributor,” Elliptic said.

This brings the total amount raised by these groups from the beginning of the invasion to more than $4 million, Elliptic said.

Total crypto market cap at $1.738 trillion in the daily chart | Source: TradingView.com Crypto War: Who’s Winning?

This increase in donations is part of a more significant trend by Ukrainian volunteers and NGOs who have been at the forefront of organizational efforts since the conflict began eight years ago with the separatist Donbas republics.

Bitcoin was up 1.75% to $47,130 at the time of writing. The crypto fell to an early morning low of $46,173, before climbing to a high of $47,247, indicating a mixed start today.

Related Article | Russian Politicians’ Crypto Wallets Targeted By Ukraine – Hefty Reward Up For Grabs

“Cryptocurrencies may be used to crowdfund for the Ukrainian army or assist Russia in avoiding sanctions because there is no central authority who can impose their morality on its users,” Elliptic’s principal scientist and co-founder, Tom Robinson, said. “No one can prevent it from being used in either way.”

One of the numerous costs of war is its impact on the global financial market. Experts also fear an enormous human toll, with Ukrainian President Volodymyr Zelensky declaring that more than 100 Ukrainians had been slain in the first 24 hours of the assault.

Collateral Damage

The invasion has thrown Ukrainian people’s lives into disarray, with many attempting to flee the nation. In contrast, Zelensky advises others to protect their homes against Russian soldiers and attacks.

As Russian tanks roll into Ukraine, the two economies that have been at the forefront of adopting the new form of digital money are now using it to gain a competitive advantage in the geopolitical battle.

For instance, Ukraine is seeking further measures of staving off Russia’s invasion on their country by going after government official’s crypto wallets.

For the part of Russia, it has been reported that hackers from the country have allegedly launched cyberattacks on Ukraine’s private financial firms to break into their crypto reserves.

A Tool That Changes The Game

Early today, Crypto.com Coin was down 3.68%, bucking the trend. The remainder of the majors, on the other hand, had a bullish start to the day. This afternoon, (February 27), Bitcoin’s market dominance has increased by 0.13% to 41.89%, as statistical analysis has stated.

Crypto analysts project that volatility in global financial markets, including cryptocurrencies, will follow as the war rages on.

For the first time, the crypto era’s first significant battle also means that both sides have access to a tool that can quickly move billions of dollars across borders.

Related Article | Russia Said SWIFT Ban Could Be Tantamount To A Declaration Of War

Featured image from OpenSea, chart from TradingView.com

from NewsBTC https://ift.tt/kmwlAv5
Find The best Lending Program Top CryptocurrencyLending Program

Sabtu, 26 Februari 2022

Bitcoin Surges to $40,000 After Breaking Key Resistance

The fear of missing out (FOMO) was at its peak as the price for Bitcoin rose above $40,000. The cryptocurrency started a nervous weekend at around $39,000 on Feb 26 after a one-day spike briefly noticed USD 40,000 return to fame just a day ago.

After a day of high volatility, Bitcoin was relatively calm on Saturday. After trading as high at $40,330 over at Bitstamp, there are now signs that the market may be stabilizing for good this time around, with more positive news coming out from Cointelegraph Markets Pro and TradingView revealing calmer situations going forward into Sunday morning’s session.

Related Reading | Cryptocurrency Prices Soar On Possibility Of Russia-Ukraine Talks

The fakeout phenomenon played out in the crypto markets on Friday as well. As a result, the volume was thinner than usual over the weekend.

Geopolitical turmoil in Ukraine and Russia has created an atmosphere of continuing cautious sentiment amidst issues that may deliver contemporary instability on Monday.

This week, the Crypto Fear & Greed Index reached a new low, remaining within the 26/100 “concern” zone.

Russia-Ukraine war has caused a stir in the crypto-verse, with many traders worrying about how it may affect Bitcoin prices. However, for now, at least there seems to be some lightheartedness. We can see that even though Long Term Bears were victorious after their latest $34300 low was set versus February’s dip down into psychological territory ($32 800), trading volumes suggest an opportunity just might exist again soon enough.

Analysts Reviews On Bitcoin Move

The bear market may be over for now. In an interview with Rekt Capital analyst, February’s coming down from $45,500 will most likely end up being “a vital” consolidation period where traders try to get back into buying mode before things go south again.

Bitcoin trading near $40,000 | Source: BTC/USD Chart on Tradingview.com

The end of this week saw a significant recovery for both Europe and U.S., as macro markets showed some stability after yesterday’s turmoil in the Asia Pacific caused by China’s economic data announcement that came out late Friday night.

Related Reading | Battle Of The Hedges: How Gold And Bitcoin Have Performed With Russia-Ukraine Conflict

The U.S dollar surged in power as hostilities started to increase again. Most of its beneficial properties with the USD Forex index (DXY) returning after reaching a high level around 97.7%.

Top Trending Market Update

Saturday, the entire cryptocurrency market seemed to be in a good place. With leading coins led by Terra (LUNA) increasing about 50% over the past week.

Some late beneficial properties are still taking part in out, including for XRP. The coin was 10.3% higher over the 24 hours.

Ether is on the move! An essential altcoin by market cap, ETH traded above $2,750 again today with 5.6% growth every day. And seeking valuable territory above $3,000 for sure this time around.

Featured image from Pixabay, Chart from TradingView.com

from NewsBTC https://ift.tt/nWpV7gj
Find The best Lending Program Top CryptocurrencyLending Program

The Ultra-quality of Avatars for the Metaverses Has Become a Reality

Trader Nicholas Merten called the metaverse sector the most promising direction of the crypto market in 2022. According to the analyst, altcoins from this sector have been the leaders in terms of returns for the past few months. Metaverse tokens will be able to show similar dynamics in the next year, Merten believes.

The concept of metaverse has been around for a long time, but before its popularity was hindered by two factors: a weak technological base and distrust of the online environment.

From a “trend” metaverse started to turn into “real life” and the needs of users began to grow with an incredible speed.

The familiar 2D pictures and lack of user uniqueness became more and more of a problem.

The solution to improve metaverse came from the MetaBody, forming a new market of realistic and creative avatars behind it, and some companies are already making progress in mastering it. The MetaBody is a project that provides ultra-realistic 3D avatars for use in the meta-universe and beyond.

The MetaBody was established to develop high-end custom avatars, communities and tools to accompany holders in their metaverse experience.

“The development of the metaverse directly depends on the quality and realism of the avatar. Unique metaverse characters, moreover with the possibility to create a custom image, is a new stage of metaverse development which really feels like real life”, – comments MetaBody Studios.

The first thing one wants to see in a metaverse is a new level of quality and the universe as close to real-life as possible. The main use of the MetaBody in the metaverse. Avatars can be integrated into existing and emerging virtual worlds. However, this is not the only use, in the future, the MetaBody can be used to perform at virtual events. Avatars can hold a VR concert on their own or participate in the show of a new digital clothing collection, It is also worth noting being rendered in any surroundings and having their own social media: examples of practical use can be found on the Instagram page of user Anelie Godar.

In the future, the MetaBody Studio plans to add more file formats to ensure seamless integration into emerging metaverse and other virtual worlds.

A limited set of avatars will be custom and made according to client’s wishes. The MetaBody allows you to be anything you want. The MetaBody is not a trend that should take root in the realm of the metaverse. It is a step toward perfect quality unique avatars for metaverse users.

The MetaBody is quickly becoming a cornerstone of Web-3.0 development and integration into future business processes, it is clear that related markets serving such traction will flourish. The MetaBody project intends to offer its users some of the most versatile and exclusive avatar collections on the market, highlighting the uniqueness and individuality of its owners.

from NewsBTC https://ift.tt/tz9KEmq
Find The best Lending Program Top CryptocurrencyLending Program

LABEL Foundation Debuts On South Korean Digital Asset Exchange Coinone

LABEL Foundation (LBL) has been listed on South Korean digital asset exchange Coinone. The listing is a huge milestone for the project given that South Korea possesses some of the strictest crypto listing regulations worldwide. The process involves in-depth reporting and high-level scrutiny from local financial watchdogs, all of which LABEL Foundation has successfully passed to be listed on Coinone.

Crypto exchanges like Coinone are among the few left after the market shutdown that saw most crypto exchanges in the region shutter their doors due to the inability to comply with strict regulations. One reason for this is that cryptocurrencies are still not regarded as legal money in the country, and although crypto exchanges are legal, they have to operate under strict guidelines, and crypto projects are not exempt from these regulations.

After proving compliant with these regulations, LABEL Foundation recently received approval to be listed on the crypto exchange with a listing spot with the KRW (South Korean currency). This comes on the heels of Clesson, its parent company, raising $2 million in equity funding to put the project at the forefront of Web 3.0 content creation.

This $2 million equity funding came from two large investment funds; EBest Investment & Securities and Groom Investment, both of which are established players in South Korea.

LABEL Foundation Continues To Grow

Since its inception, LABEL Foundation has grown at a rapid rate and has continued on this trajectory. Its content platform OPENTRACK has gained traction and progress with the release of its 2nd version, in addition to various partnership establishments with leaders in the industry.

The decentralization of the platform has been a strong supporter of this growth, development of an NFT infrastructure and marketplace that is aimed at initiating the influx of secured IP rights. All of which will be NFTized and offered to the users through the incubation platform.

With OPENTRACK, music artists no longer are subjected to predatory profit-sharing systems that prevail in the industry. The platform’s peer-to-peer profit-sharing system makes it a fair and transparent system where artists take home a larger percentage than they would under current systems.

LABEL Foundation is a blockchain-based educational content incubation, NFT, and fee-sharing platform that is changing the face of the music business. The platform attracts top talent from around the world to its content platform OPENTRACK where students are able to develop various musical skills at their own pace. It provides users with simple investment options, as well as fair income-sharing and reliable marketing for artists. Built on the Ethereum network, it is operated by Clesson, a music ed-tech company that is based in South Korea.

from NewsBTC https://ift.tt/g47rEZ6
Find The best Lending Program Top CryptocurrencyLending Program

Jumat, 25 Februari 2022

U.S. Senator Ted Cruz Reveals Why He’s So Bullish On Bitcoin

Texas senator Ted Cruz has once again shown support for bitcoin. Bitcoin has been gaining popularity among the ruling class and more politicians are coming out in support of it. The Republican who holds a bullish stand on the digital asset has revealed why he supports the cryptocurrency. In a recent talk, Cruz laments issues with the government control over the financial property of citizens, praising bitcoin for deterring this.

Why Cruz Supports Bitcoin

In his talk, U.S. senator Ted Cruz goes into detail about why he supports bitcoin. Pointing to the recent issues in Canada, he explains that control is the major reason behind this support. Canadian Prime Minister Justin Trudeau and the government had been freezing the accounts belonging to the truckers protesters and supporters, even going as far as to try to freeze BTC accounts of these protesters and supporters.

Related Reading | Bitcoin Monthly Cyclicality Paints Grim Picture For Last Week Of February

Cruz explained that things need to be decentralized and broken apart. Further that this is one of the reasons why he is so bullish on bitcoin. The fact that the digital asset cannot be controlled by any entity or government makes the argument for itself.

“It’s one of the reasons why I’m so bullish on crypto, on bitcoin, because it is decentralized and not controllable,” Cruz said.

The senator explained that the events that took place over the past week in Canada were a fine representation of why bitcoin is needed. Cruz goes ahead to read the scathing letter sent by self-custody software provider Nunchuk, to the Ontario Superior Court of Justice, explaining that they in fact could not freeze anyone’s crypto wallets as directed by the latter. The senator praised the response as “spectacular.”

BTC marks sharp recovery above $39,000 | Source: BTCUSD on TradingView.com

Continuing on, Cruz said that this decentralization of BTC is why China had banned the digital asset in the country. The reason behind this is that the government cannot control it, the Senator said. He further said that this is the same reason why Senator Elizabeth Warren is so against the cryptocurrency, because they cannot control it.

“Warren hates bitcoin. The Chinese government and Elizabeth Warren, they both want to control you; your assets, your savings, your speech, your life, your children, every decision, they want to control. And so we need to break up the means of controlling the citizenry.”

Related Reading | Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin

The Democratic senator has, at various points in the past, criticized bitcoin and cryptocurrencies, which she referred to as the new shadow banks. Warren has also said in the past that the digital assets are not a real path towards financial equality.

Ted Cruz continues to be a staunch advocate of BTC. The Texan Republican revealed in a recent finical disclosure that he had purchased bitcoin up to $50,000 worth during the dip in January.

Featured image from Bitcoin News, chart from TradingView.com

from NewsBTC https://ift.tt/EeUxs8y
Find The best Lending Program Top CryptocurrencyLending Program

$170 Million In Futures Liquidate As Bitcoin Recovers Above $38k

Data shows more than $170 million in Bitcoin futures has liquidated over the past 24 hours as the price of the crypto makes sharp recovery above $38k.

BTC Price Makes Sharp Recovery From Crash Due To Russia’s Invasion Of Ukraine

Following the commencement of the Russian invasion of Ukraine yesterday, the price of Bitcoin took a deep plunge down as investors pulled out of the market. During this crash, the coin’s value went as low as $34.4k.

However, today the value of the crypto already seems to have made some sharp recovery as the price hit $39k earlier in the day.

At the time of writing, Bitcoin’s price floats around $38.8k, down 4% in the last seven days. Over the past month, the crypto has gained 7% in value.

The below chart shows the trend in the price of BTC over the last five days.

BTC's price has made some sharp recovery today | Source: BTCUSD on TradingView Bitcoin Futures Liquidations Over The Past Day Reach More Than $170 million

Due to this sharp price rise, there have been some mass liquidations in the futures market. In case someone isn’t familiar with what a “liquidation” is, it’s best to get a quick overview of margin trading first.

As you may know, when investors purchase a buy or sell futures contract on a derivatives exchange, they have to put forth some initial investment, called the “margin.”

Against this margin, users can loan Bitcoin amounts many times their actual position. This is called making use of “leverage.” Any profit that investors earn on this leverage is theirs to keep.

Related Reading | Bitcoin Investors Haven’t Responded To Russia-Ukraine War With Large Inflows (Yet)

However, if the price of the coin moves opposite to the direction they bet on, then their losses are also as many times more in magnitude as the leverage. After the user loses a large percentage of their margin because of these losses, the exchange forcibly closes the position. This is precisely what a “liquidation” is.

Now, here is the latest data regarding the Bitcoin futures liquidations:

Looks like the futures market has observed some mass liquidations over the past day | Source: CoinGlass

As you can see above, more than $170 million in Bitcoin futures contracts have been liquidated over the past 24 hours.

Related Reading | Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin

Since these liquidations took place because of a sharp price move up, the majority of these are from short contracts.

While this is a sharp and unexpected recovery for the crypto, it’s unclear how long it will last. The macro fears and uncertainties due to the Russia-Ukraine war are still abound at large as the invasion still rages on.

Featured image from Unsplash.com, chart from TradingView.com

from NewsBTC https://ift.tt/tAlINEb
Find The best Lending Program Top CryptocurrencyLending Program

NFT Vs. DeFi: NFT Activity On Ethereum Rises While Bitcoin Demand On DeFi Falls

NFT activity is an important element in the Ethereum blockchain, accounting for most network transfers.

Demand for Bitcoin in the Ethereum ecosystem has decreased dramatically since the beginning of the year.

The surge in demand for NFTs and DeFi applications is helping Ethereum supporters to muffle the noise of Bitcoin maximalists who have long insisted that only the original cryptocurrency mattered most.

Since the creation of the Ethereum blockchain, the case for Ether eclipsing Bitcoin has been a recurring subject in crypto.

Bitcoin maximalists claim that it is still the ultimate type of digital money, stressing that the first cryptocurrency has a valuation of about $810 billion, which is more than twice Ether’s $310 billion.

NFT Activity Vs DeFi’s

The crypto market is diverse. Under the domain of blockchain technology are two popular applications: NFT and DeFi.

Both applications provide huge opportunities in the crypto market. NFTs offer a value proposition while DeFi delivers a platform for financial services and transactions. The engagement in both has risen sharply.

The primary distinction between NFT and DeFi is that NFT refers to individual digital assets, whereas DeFi refers to the internet-based financial system.

NFT holds a unit of data that is unique and non-interchangeable, whereas DeFi runs on smart contracts on blockchain on its platform and eliminates intermediaries.

Total crypto market cap at $1.691 trillion in the daily chart | Source: TradingView.com

Related Article | Jam City to Drop Champions: Ascension NFTs This Week, Announces Price and Holder Perks

NFTs Boost ETH Market

Despite the broad slump in the crypto market, non-fungible tokens have been trading at all-time highs in recent months. Furthermore, starting July 2021, NFT network transfers have overtaken Stablecoins and all ERC-20 tokens.

NFT adoption began to accelerate near the end of last year, with platforms such as OpenSea, the leading NFT marketplace, experiencing record trade volumes.

LooksRare, which debuted on Ethereum in early January, had more than $2 billion in trade activity in its first 30 days.

The Ethereum community has taken up that role to a much greater extent, and that type of blockchain development is currently experiencing a bullish phase in cryptocurrencies.

NFT Seen Climbing Higher

Many observers predicted that Ether would continue to rise as the demand for NFT rises. Market data suggests that the market will rise exponentially in the coming months.

In 2017, the Ethereum blockchain of smart contracts served as the foundation for DeFi. Maker DAO was the first well-known DeFi platform.

DeFi is thought to account for two-thirds of the cryptocurrency market. The increasing interest in the DeFi platform resulted in an increase in Ethereum developers and a decrease in Bitcoin developers.

Related Article | Leading Blockchain XDC Network Signs Partnership With D.C. United for NFT Marketplace

Ethereum Beats Bitcoin

Meanwhile, according to latest data, Ethereum has surpassed Bitcoin in two metrics: On-chain transactions and transaction fees produced.

These are two significant indicators since they represent the increased and widespread use of Ethereum in the cryptocurrency sector.

Ethereum is also gaining ground in other indicators, such as active addresses on each blockchain and aggregated trade volume on exchanges.

Featured image from Coingape, chart from TradingView.com

from NewsBTC https://ift.tt/RId9oQp
Find The best Lending Program Top CryptocurrencyLending Program

Why The Novatar Collection Stands On Its Own On The NFT Sector

Social media seems on the brink of a transformation. Major platforms began integrating with digital assets in the form of NFTs and crypto payments. Twitter, formerly led by Bitcoin bull Jack Dorsey, appears ahead of a race that for many started years ago. Big tech is just catching up.

Twitter recently allowed its users to use their NFTs as profile pic with a new feature part of their Twitter Blue initiative. Facebook, Instagram, Reddit, and other social media platforms could soon follow in the footsteps of Twitter and integrate NFTs into their platforms.

The sector has seen unprecedented growth with 2022 aligned to be yet another year of adoption of high demand for these digital assets. A report from Reuters records that NFT sales scored an impressive total of $25 billion last year alone which represents a 26,000% increase compared to 2020.

The sector has been attracting attention from retail and institutional investors due to its potential to completely transform multiple industries, such as entertainment, sports, gaming, clothing and fashion, and others. NFTs could disrupt industries with billions of dollars in value.

In 2022, the sector is expected to reach $80 billion in total sales driven by the growing interest, demand, and inherent scarcity. Its implementation on social media platforms with billions of monthly active users will only contribute to these digital assets’ upward trajectory.

Before big tech entered this race, there was Novatar, a project created to meet the demand for NFTs. This collection aim at making a place for itself in the sector by offering its owners an innovative and high-tech approach.

The Novatars Collection And Its Unique Features, Creating A Digital Identity

The Novatar collection was designed to be the first that combines the appeal of these digital assets with the digital identity use case. The Novatars collection is comprised of 25,000 baby avatars with a set of technologically advanced features.

In that sense, Novatars was designed to renovate the way users interact with their NFTs by embracing the variety of human life. The baby avatars have a unique mechanism that lets them age via a process supported by the blockchain.

The NFTs on this collection have different traits, facial expressions, and other characteristics granted by their “genes”, a feature that complements its aging mechanism. These genes determined Novatar’s hairstyle, eye color, race, sexual orientation, clothing, and other traits.

Automatically generated by Artificial Intelligence (AI), the Novatars collection celebrates diversity and attempts to emulate the full span of a human life cycle on the blockchain. The aging mechanism can be activated a month after the NFT was minted solely by its owner.

Users can choose to keep their NFTs in their baby form or activate the process that will irreversibly turn them into adults. Once they grow, the Novatars will add more genes to their basic gene pool and will gain new traits.

What Next For The Novatar Project

In order to become one of the first investors to own one of the 25,000 Novatar NFT, the project will conduct a sale next February 27th, 2022.

Interest users need to link their crypto wallets via browser and input a valid email address. By completing this process, the user will be added to a Wishlist and will have 15-minute early access to acquire one of 10,000 Novatars available for 0.1 ETH. After this event, the items on the collection will be offered with a Dutch Auction for a limited number of NFTs.

After the pre-sale, the team behind the Novatar project will be focused on developing the collection. As of now, the smart contract that supports the project has been released and users can verify for themselves the immense potential of this collection and why it is poised to become a leader in the sector.

from NewsBTC https://ift.tt/MkFoSr6
Find The best Lending Program Top CryptocurrencyLending Program

Battle Of The Hedges: How Gold And Bitcoin Have Performed With Russia-Ukraine Conflict

Bitcoin and gold have been going head to head in performance in light of the recent crisis between Russia and Ukraine. As the conflict rages on, the financial markets have been hit hard. Russia saw its stock market crash over 45% and other financial markets have equally seen declining prices. Bitcoin was not spared from this onslaught. However, gold thrived in this environment, raising the question of which asset is the better inflation hedge?

Gold Outperforms As Russia Invades Ukraine

On Thursday the 24th of February, the world watched in horror as Russia began the first phases of its invasion of Ukraine. The latter which obviously possesses less military strength saw various parts of its country bombed by the Russian forces. But elsewhere on the charts, bitcoin and gold were having a battle of their own as investors watched with bated breaths.

Related Reading | Russia Can Avoid Sanctions By Using A Wide Range Of Cryptocurrency Tools

Bitcoin has emerged in the last years as the “digital gold”, giving its physical counterpart a run for its money. Year over year, bitcoin had outperformed bitcoin and investors flocked to the digital assets as the new, dominant inflation hedge. However, as news of the Russian invasion spread across the world, the digital asset did not put up much of a fight as it had begun to plunge very fast.

Gold used this time to show that it is very much a strong contender for being a powerful hedge. As its digital competitor had declined on Thursday, gold had risen on the charts, and rapidly too.

Gold outperforms BTC after Russia invades Ukraine | Source: Twitter

The asset which had been trading as low as $1,892 per ounce the previous day had risen to as high as $1,970 on Thursday, where it peaked before declining. For that day, gold had emerged as the obvious winner between the two but this would prove to be only a temporary win.

Bitcoin Mounts A Takeover

Thursday came and gone and the markets once again began to settle by the end of the day. Bitcoin which had taken a beating on the 24th had bottomed out south of $34,000 before beginning another climb upwards.

BTC recovers above gold on Friday | Source: BTCUSD on TradingView.com

As Thursday drew to a close, there was an obvious reversal trend between bitcoin and gold. While the latter had done well with the break of the news, the subsequent wave would see bitcoin once again being the dominant asset.

Related Reading | Bitcoin Monthly Cyclicality Paints Grim Picture For Last Week Of February

Gold had crashed back down towards $1,888 per ounce while bitcoin had recovered. The digital asset saw a price surge that saw its value come close to $40,000. Although the physicality of gold helps to promote faith in the asset, the ease of moving a digital asset like bitcoin can be a bigger reason to hold it as a hedge. As the week draws to a close, BTC remains on a recovery trend but gold has continued to decline.

Gold continues decline on Friday | Source: Gold Price Featured image from CoinWeek, chart from TradingView.com

from NewsBTC https://ift.tt/RyUwPhz
Find The best Lending Program Top CryptocurrencyLending Program

Check Out Today’s Top 5 New Cryptocurrencies To Invest In

The best cryptocurrencies to invest in are aplenty and they are a wise hedge against unexpected swings in the financial market these days.

Cryptos, like cash, can be used to buy anything, but it also has the benefit of being a high-yielding investment.

However, because of the volatility of cryptocurrencies, it’s vital to understand what you’re getting into before investing.

Here are our Top 5 suggestions for the hottest new cryptocurrencies to invest in.

Polygon (MATIC) – For Massive Scalability

Polygon (MATIC) is an Ethereum Layer 2 scaling solution. It also serves as a platform for creating and connecting Ethereum blockchain networks.

MATIC lowers transaction rates on the Ethereum network while dramatically enhancing transaction speed.

Polygon’s scalability focus makes it so appealing for decentralized Ethereum blockchain applications.

MATIC is currently trading at $1.4395 with a market capitalization of $10.76 billion as it continues to flourish in the market.

Related Article | TA: Bitcoin Reverse Losses, But Why $40K Still Is The Key

Decentraland (MANA) – Most Affordable Crypto To Access The Metaverse

Decentraland differs from other virtual worlds in that, except for roads and plazas, all LAND areas may be owned, sold, and developed by the game’s players.

MANA is Decentraland’s native cryptocurrency, and it is used to buy land parcels (LAND tokens), avatars, wearables, and other things on the platform’s marketplace.

MANA is currently trading at $2.60 with a trading volume of $1.5 billion and has increased by 175% since last year.

Total crypto market cap at $1.725 trillion in the daily chart | Source: TradingView.com Stellar (XLM) – New And Exciting Crypto Payments System

The stellar blockchain can process between 1000 and 5000 transactions per second.

This distinguishes it as a formidable rival to centralized payment systems, a point that will increase its value as more people accept crypto payments.

One of the advantages of investing in XLM is its use as a currency. This means that investors can create tokens and even decentralized exchanges on this blockchain.

Because XLM is the native cryptocurrency of the stellar blockchain, it will always be valuable. The decentralized exchange is a key element driving the long-term value of Stellar.

XLM is currently trading at $0.181253 with a circulating supply of $24.9 billion.

Related Article | Cardano Whales Devour Dip, Why They Don’t Care About Price Action

Curve (CRV) – Most Preferred Crypto For DeFi Exposure

Curve (CRV) is a platform for Stablecoins that uses an Automated Market Maker to manage liquidity.

The platform has been designed to have less slippage and an affordable charge. Assets can be automatically and without authorization traded.

It’s among the preferred cryptocurrencies to invest in, especially when it comes to DeFi.

Because it is a non-custodial network, users retain complete ownership over their tokens. Curve relies on liquidity pools and rewards users who contribute to them.

CRV is currently trading at $2.26. It has a diluted market capitalization of $7.4 billion globally.

Lucky Block (LBLOCK) – Hottest New Crypto With Strong Potential

Lucky Block is a blockchain-based crypto-lottery platform that aims to improve the lottery experience for all participants.

Lucky Block’s goal is to eliminate all obstacles in order to establish a “global lottery” in which all contestants have a higher chance of winning a jackpot than traditional lottery systems.

The lottery is made possible via the platform’s native coin, LBLOCK.

LBLOCK is currently trading at $0.00512. It is still substantially flexible and can produce bullish trends in the long run.

Featured image Liquid Blog, chart from TradingView.com

from NewsBTC https://ift.tt/sAEQaiN
Find The best Lending Program Top CryptocurrencyLending Program

Kamis, 24 Februari 2022

Bitcoin Monthly Cyclicality Paints Grim Picture For Last Week Of February

For the past year, bitcoin has shown a cyclicality that has been on a semi-regular basis. For most of last year, most months had finished in the positive with green candles dominating the market. However, while most of the months have been positive, there have been significant differences between the first half of the month and the second half. This push and pull pattern has continued into the new year, spelling some bad news for the end of February.

Looking At Monthly Cyclicality Through 2021

Eight months out of the last 14 months have been recording positive returns mid-month. Across these eight months, the returns have not carried on to the end of the month for five months, leaving only three months that saw positive mid-month to end-month returns. Most of bitcoin’s gains have been recorded occurring in the first half of the month, while the second half usually suffered losses.

Related Reading | False Safe Haven: Bitcoin Correlation With S&P 500 Hits ATH

These periods of gains and losses usually coincide with the CME future expires which usually occur mid-month. And from mid-month to the next expiry date, the pattern usually plays out as illustrated in the chart below.

BTC monthly cyclicality shows interesting pattern | Source: Arcane Research

Following this pattern for the past year would put a trader in significant profit over the past year. That is if they purchased the digital assets when the CME futures were expiring and subsequently sold the next mid-month. The reverse would put a trader in over 50% loss from their initial investment, indicating that timing the CME futures expiry and following bitcoin’s cyclicality could be a favorable strategy.

February End Not Looking Good For Bitcoin

Given that this cyclicality has carried on into 2022, then the last week of February may see the digital asset end on a low note. Bitcoin and other cryptocurrencies are already being rocked by social and political issues, most recently, the invasion of Ukraine by Russia. These have seen the digital asset plummet towards $35,000, giving bears a complete hold of the market.

BTC recovers above $35K | Source: BTCUSD on TradingView.com

For the first half of February, bitcoin had recorded 17% growth. But from mid-month to the end of the month, it has turned down, with over 12% losses already being recorded. If this pattern continues, then bitcoin is looking at another week of losses before ushering in the month of March. This would mean that the digital asset could see significant growth from the beginning of March till mid-month.

Related Reading | Data Says Bitcoin Holds Up To Macro Turmoil Better Than Altcoins

It is still unclear what is leading to this cyclicality. However, the CME future expiry has presented one of the strongest arguments for it. Arcane Research notes that the digital asset is known to revert to its monthly VWAP price which coincides with the max pain price of month options. Although it is still unclear if this is the reason behind this cyclicality.

Featured image from USA Today, charts from Arcane Research and TradingView.com

from NewsBTC https://ift.tt/qlo9UeO
Find The best Lending Program Top CryptocurrencyLending Program

Uniswap Registers Yearly Low: Vital Trading Levels To Follow

The broader crypto market jolted hard owing to the tension between Russia and Ukraine. Uniswap broke below its crucial support level and was priced at $8.32. Bitcoin slid off its charts at press time, after noting a 9% depreciation. The crypto market had barely recovered from the December crash.

With the Russia and Ukraine tension intensifying most altcoins have again lost much of their strength. Uniswap for instance at the current price level flashed a yearly low too.

Uniswap had registered an all-time high of $45 in the month of May, last year post which the coin continued to dip on its charts. The coin breached its long holding support level of $12.65 and broke below a series of resistance lines.

Related Article | Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin

Uniswap Price Analysis: Four-Hour Chart Image Source: UNI/USD TradingView

Uniswap was priced at $8.32 and was closing near its immediate support level of $7.87. In the last 24 hours, UNI lost 7% of its value and over the last week, the coin had shed almost 24% of its value. The coin had tried to consolidate near its $12.65 support line, post which UNI continued to move in a downtrend.

After the coin breached the aforementioned support line, UNI had tried to hold itself above the price floor of $8.36, however, the coin broke below the $8.36 price mark. Uniswap had also tried to bounce back from the $8.36 and touch the $9.26 price mark.

If the coin continues to trade beneath the $10.01 price floor, which UNI had retested a couple of times then there could be chances that UNI would dip below the support level of $7.87.

The coin has remained under brought for almost one week now, forcing the coin to touch a yearly low. The last time UNI traded at this price mark it was in the month of January 2021. A fall from the $7.87 would push UNI to trade between the $6 and $5.88 price levels.

Rationale

The technical outlook of Uniswap was quite bearish at the time of writing, over the past week UNI had displayed a consistent bearish outlook. Ever since UNI started dipping down from the $10.01 support line, buyers started to exit the market.

Related Reading | Russia Can Avoid Sanctions By Using A Wide Range Of Cryptocurrency Tools

The aforementioned situation had pushed the UNI to the oversold area. The Relative Strength Index was parked underneath the half-line, which indicated that buying strength was absent in the market and selling pressure dominated the coin. Although RSI had noted a slight uptick, at press time the indicator again started to side with the bears.

UNI was trading beneath the 20-SMA line, which is indicative of a bearish outlook. The sellers in the market were responsible for driving the price momentum of the market.

MACD underwent a bearish crossover and the coin started to depict red histograms at the time of writing. This reading meant that the market trend continued to act in accordance with the bears in the market.

from NewsBTC https://ift.tt/3RVEoU9
Find The best Lending Program Top CryptocurrencyLending Program

Bloomberg Strategist: This Is The Defining Moment To Buy Bitcoin

The escalation of tensions between Russia and Ukraine continues apace, and all global markets have plummeted today. During this crisis, the leading cryptocurrency Bitcoin (BTC), which was trading for $34,000 at the time, retreated then recovered. This, according to a well-known analyst, is the perfect time to invest in Bitcoin.

Bitcoin Falls Following Tensions

Bitcoin rose little after Wall Street began on February 24, with markets still focused on Russia’s invasion of Ukraine and its aftermath.

BTC/USD was nearing $36,400 on Bitstamp two hours after the opening bell, up $2,000 from its recent lows, according to data from TradingView.

Russia’s nighttime foray into Ukraine, which persisted and ricocheted across global commerce, rocked jittery markets.

Related Article | Stifel says Three Macro Factors Could Drop Bitcoin Price To $10,000

Russia’s stock market, however, suffered a different amount of stress, with MOEX losing 50% of its value and briefly suspending trade.

Bitcoin, which had been on the decline earlier in the day, has made a nice recovery.

BTC/USD trades at a $36k amid crisis. Source: TradingView

Sahil Sakhrani, a market analyst at crypto research firm Macro Hive, said:

“At the start of the week, escalating tensions between Russia and Ukraine had hit crypto markets hard. Our crypto indices were already showing sizeable losses across all sectors.”

Sakhrani cautioned that the imposition of fresh sanctions against Russia’s economy might exacerbate the issue further, and that Bitcoin’s relationship with traditional stock markets should not be neglected.

Mike McGlone Says This is A Buying Opportunity

Bloomberg senior commodity analyst Mike McGlone told Scott Melker, presenter of the Wolf of All Streets podcast, that the markets are overdue for a large correction, most notably in equities, but also in the crypto market.

McGlone, in particular, believes that this is a “defining moment” for the digital asset; despite the uncertainties, he sees this as a “very good buying opportunity” for long-term investors who have been sitting on cash.

The commodity strategist said:

“The key thing to point out here is cryptos and Bitcoin are still risk assets and they’re giving up back a lot of gains. I still think there is more pain there. I don’t think Bitcoin gets much below $30,000 its holding good resistance around $40,000. I think this is ultimately going to be a very good buying opportunity for Bitcoin for longer-term traders. It’s going to be looked back upon in history as a defining moment.”

Related Reading | Bitcoin Prices Bear The Brunt Of Long Liquidations And Geopolitical Tensions

Featured image from Pixabay, chart from TradingView.com

from NewsBTC https://ift.tt/He5GdgB
Find The best Lending Program Top CryptocurrencyLending Program