Over 10 New Cryptocurrencies Are Being Launched Every Day, Data Shows

During a period of major corporate and institutional interest in the crypto industry, nearly 5,000 new tokens have emerged in the last 12 months, averaging over 10 new coins per day, new data shows.

Cryptocurrency Boom of 2021

As can be observed on CoinMarketCap’s homepage, the number of existing cryptocurrencies has recently surpassed 12,000. This is well over the approximately 7,100 coins recorded by the site in September of last year, meaning that at least 4,900 new digital assets have been created in the last 12 months alone.

This represents the largest YoY surge in the absolute number of cryptocurrencies since Bitcoin’s inception. During this time, the digital asset industry achieved a total market cap of over $2 trillion.

Interest in crypto creation is largely driven by Bitcoin’s price gains in the past year, as well as increasing institutional involvement in the space.

As household names like Elon Musk and Jack Dorsey show support for the industry and its possibilities, both creative and financial interest continues to be drawn into the space. This further bolsters the markets, inspiring developers to work on their own cryptocurrencies to avoid missing out on potential gains and demand.

Furthermore, digital assets have garnered high interest as an asset class for hedging against inflation – especially during the economic crisis created by the coronavirus pandemic. While September of 2020 saw stock markets plunge, cryptocurrencies mostly held their value. This may have inspired even more creators to start investing and developing in the emerging asset class.

Is This a Good Thing for Crypto?

Through increased interest and technological development is crucial to the crypto industry’s growth, an ever-growing number of coins may be counterproductive or even dangerous.

For example, SEC chair Gary Gensler is only more skeptical of the space due to the vast number of tokens in existence. Recognizing that there is no room for thousands of different currencies, he plans to further regulate the industry to protect investors before some of them inevitably collapse.

Indeed, many of these tokens seem like dangerous investments – if not outright scams. Over $25 million were lost to crypto scams among Australians only in the first half of 2021

Is institutional interest in cryptocurrencies not all that it is made out to be

A large number of money managers continue to refrain from cryptocurrency investments, SkyBridge Capital founder Anthony Scaramucci said, in a recent interview. He estimated that a mere 10% of the institutional financial sector is looking at the asset class. He said, “The institutions are not there…Anybody who’s telling you there’s institutional adoption into this space […]

Tezos price analysis: XTZ bulls fight bearish influence at $6.9

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TL;DR Breakdown

  • The Tezos price analysis shows bullish trend is ruling the price charts.
  • Price has increased up to $5.7 today.
  • Support is eminently strong at $4.67.

The Tezos price analysis is indicating an improvement in price as the bulls are trying to make a comeback once again. The past week proved extremely discouraging for the market as the price reached its lowest points.

Yet, today the situation is on the opposite as the cryptocurrency is struggling to maintain its price above $5.6. But as the bullish momentum is growing, further improvement in price is highly possible in the approaching hours.

XTZ/USD 1-day price chart: Bulls play strategically as price now hitting the $5.7 mark

The one-day Tezos price analysis is going in the bullish direction again after a successive downtrend. The price has increased up to $5.71 today which can count as a huge accomplishment for the cryptocurrency.

Further advancement is to be expected as the bullish momentum is strengthening with each passing day. Other important indicators include the moving average (MA) which is settled at the $6.01 position for the day.

Tezos price analysis: XTZ bulls fight bearish influence at $6.9 1
XTZ/USD 1-day price chart. Source: TradingView

As the volatility has decreased in the last 24-hours, the Bollinger bands values have changed as well. Now, the upper value is placed at $7.63 while the lower value is found at $4.23. The Relative Strength Index (RSI) has gained advantage of the situation as well and has moved up towards 51 and has now flattened up.

Tezos price analysis: Bulls stand powerless as price stays under the $7 resistance

The 4-hours XTZ/USD price analysis is following the bearish trend as the price has downgraded again. The price levels are going down after dodging past a massive bullish feat that took place in the past few hours. Currently, the price is settled at the $6.94 mark, and is expected to go a bit up from here towards a better position, as Bollinger bands have narrowed down. The moving average is still quite low i.e. $5.36 because of the constant price fluctuations.

Tezos price analysis: XTZ bulls fight bearish influence at $6.9 2
XTZ/USD 4-hours price chart. Source: TradingView

The volatility is towards the decreasing side as the upper Bollinger band has adjusted itself at $5.96 and the lower Bollinger band at $4.67. The RSI score is going down as well because of the downtrend and has returned to 51.6.

Tezos price analysis: XTZ bulls fight bearish influence at $6.9 3
XTZ/USD technical indicators chart. Source: TradingView

The technical indicators chart for XTZ/USD is giving out a neutral signal as the number of buyers and sellers have been almost equal. The competition has been tough as there are nine indicators on both the neutral and buying positions, with eight on the selling one.

There have been bullish interferences as well where the price has covered upward movement. This is why the moving averages indicator is giving a buying signal, as there are eight indicators at the buying point, six at the selling and only one at the neutral point.

The Oscillators are also giving a neutral hint because of the eight oscillators that are settled under the neutral level. While two oscillators are fixed at the selling position and one at the buying one.

Tezos price analysis conclusion

Tezos infinity price analysis suggests the price is going high today as it has been able to cross the $6.6 level during the last 4 hours. The price has improved significantly if we compare it with the last week’s statistics. There are further chances of recovery for the bulls as the support is quite strong and is found to be at the $4.67 level.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Axie infinity price analysis: AXS price recovers as bulls get closer to $65

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TL;DR Breakdown

  • Axie infinity price analysis price shows bulls struggling due to market pressure.
  • The bulls have taken the price to $65.45 level.
  • Cryptocurrency is supported at $49.54.

The Axie infinity price analysis is predicting a bullish trend for the day. The price has increased considerably during the last twenty-four hours and is now positioned at the $63.452 mark. The past few hours have been highly encouraging for the buyers, as the price glided past the $66 threshold. The trend has been continuous for today as well as the bulls are extending their range.

AXS/USD 1-day price chart: Price moving unboundedly towards its destination

The one-day Axie infinity price is showing encouraging signs for the cryptocurrency as the price is following the bullish movement. The price received sufficient momentum during the day which made it possible for it to reach the $65.45 level.

The price has gone above the moving average (MA) value i.e. $65.45 as well which is a great achievement. Whereas the Bollinger bands average is still at a greater height as it is holding up at $82.2.

Axie infinity price analysis: AXS price recovers as bulls get closer to $65 1
AXS/USD 1-day price chart. Source: TradingView

As the volatility in the price chart is towards the decreasing side, the Bollinger bands have changed their values as well. Now the upper band is found standing at the $82.2 mark while the lower band is at the $52.35 mark. The Relative Strength Index (RSI) score is 50 and is expected to go further above this as well.

Axie infinity price analysis: Price drawbacks to $64.32 just near the resistance point

The 4-hours Axie Infinity price analysis is going in the bearish direction today as the price has undergone decline. This happened just when the price was about to cross the $67.2 resistance level. But the bulls have been turned down as the bearish momentum has outgrown their strength.

The price has been lowered to $65.32, which is still above the moving average value i.e. $62. As the volatility is increasing, a further decline in price can be expected.

Axie infinity price analysis: AXS price recovers as bulls get closer to $65 2
AXS/USD 4-hours price chart. Source: TradingView

The Bollinger bands are supported at the $58.4 average, while their upper value is standing at $67.2 and the lower one at $58.4. The RSI score is going 60 for the 4-hours price chart which is still above the average limit.

Axie infinity price analysis: AXS price recovers as bulls get closer to $65 3
AXS/USD technical indicators chart. Source: TradingView

The technical indicators chart for Axie infinity is giving out bullish signals because overall the day has helped in adding to the coin value. There are 12 indicators that are fixed on the buying position, with nine indicators at the neutral and five at the selling points.

The Moving Averages Indicator is favoring the buyers as well because of the uptrend that followed during the day. We can see 10 indicators settling down at the buying position, with only four indicators present at the selling and one at the neutral positions.

The Oscillators, on the other hand, are giving out a neutral indication for the day. There are eight oscillators that are on the neutral level, while two oscillators remain at the buying and one at the selling points.

Axie infinity price analysis: conclusion

The price is going up once again according to the latest Axie infinity price analysis. The AXS/USD value is $65.32 at the time of writing and is expected to increase in value furthermore in the upcoming time period as well.

The reversal in trend has surprised many as bears were anticipating the price to break down the support present at $52. But, the bulls have made their mission remain unaccomplished by taking the price uphill again.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Cardano price analysis: ADA breaks above resistance, aims $2.5 next?

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TL;DR Breakdown

  • Cardano price analysis for today shows Cardano is recovering.
  • Next, resistance is found at $2.5.
  • Strong support is found at $2.2.

The Cardano price analysis is bullish for today. The price of ADA/USD broke upwards today and is crossing the week-old resistance at the time of writing. Today again, bulls successfully dodged the bearish pressure, and prices started rising. The price of ADA/USD went from $2.2 to $2.36 today in a swift move and is trading at the later value at the time of writing.

ADA/USD was one of the less affected coins during yesterday’s bearish market and is one of the early risers from the bearish spell. Yesterday most of the crypto assets reported huge losses when the market crashed, and today many coins price movement is comparatively slow, including Bitcoin, Ethereum, Ripple, and most top altcoin. But Cardano is recovering at a good rate among others, Terra, Tezos, and Fantom being the fastest ones showing good improvement.

ADA/USD 1-day price chart: Bulls rally continues as price increases further

The 1-day Cardano price analysis shows that price is going up as bulls continue their march after getting the lead back today. Yesterday a decline in coin value was observed, but today ADA has recovered a good value and is continuously moving up.

Cardano price analysis: ADA breaks above resistance, aims $2.5 next? 1
ADA/USD 1-day price chart. Source: Tradingview

The volatility for ADA/USD pair is decreasing, which is a good sign for the cryptocurrency as Bollinger bands are narrowing down with the upper band at $2.7 and lower band at $2; the mean average of Bollinger bands is forming at $2.39 just above the price level.

The Moving average (MA) is present at $2.2 below the price level, and the relative strength index (RSI) is moving up towards the upper half of the neutral zone, presently found at 49 index, the indicator shows buyers are entering the market taking the value up.

The MACD indicator is still a little bearish as the histogram is still light pinkish, suggesting yet an undecided trend. The reason for this is the downward price line of the last three weeks when overall ADA was on the decline.

Cardano price analysis: ADA bulls aim for $2.5. What are technical indicators telling us?

The 4-hour price chart for Cardano price analysis is still going bullish, as the price is currently present at $2.36, which is the last resistance level it is crossing, set during the last week by bears. But the MACD indicator’s light pinkish color is telling another story; there still exists some selling pressure above this mark.

Cardano price analysis: ADA breaks above resistance, aims $2.5 next? 2
ADA/USD 4-hour price chart. Source: Tradingview

As we can see in the 4-hour chart, the volatility is still limiting with the upper Bollinger band at $2.4 and the lower band at $2; the mean average of Bollinger bands is at $2.2, quite below the price level, indicating a bullish trend.

The moving average (MA) is also below the price level at $2.29. We will discuss other moving averages below. The relative strength index (RSI) went up in the upper half of the neutral zone and is found at 59 index.

The moving averages MA10 and exponential moving average EMA10 suggest buying of ADA asset as the short-term price line is upwards. The MA20, MA30 and EMA20 and EMA30, are suggesting selling off assets as the price line for this time period are downwards. The Hull moving average also suggests buying of assets.

The oscillators are mostly neutral, with MACD and Momentum oscillators suggesting selling of assets, whereas the balance of power oscillator suggests a buy option for ADA. all other oscillators are standing neutral and do not support either side.

By rounding off all the technical indicators, we have nine indications for buying and eight indications for selling of assets, whereas nine indications do not show any signs and are standing neutral. Thus it’s safe to say there exists a mild bullish atmosphere for ADA.

The Cardano price analysis: Conclusion

The Cardano price analysis shows a bullish takeover after the bearish trend, but bullish momentum is still not strong enough. However, there are chances for it to continue. The short-term indications are favoring bulls, and if ADA breaks above the current price of $2.36, then it might go to $2.5, but selling pressure is above $2.36, which may stop the further upwards price function.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Money can’t buy happiness but what if Bitcoin can…

In a recent interview, entrepreneur Bill Pulte discussed Bitcoin allocation and its price outlook with host Natalie Brunell. The millionaire explained that it is necessary for families to invest in Bitcoin as, “Bitcoin buys happiness because it takes people out of third world poverty…Happiness is economic freedom.” Further explaining how much a family should allocate […]

China has made its move, the ball is now in America’s court

In the light of China declaring all crypto transactions illegal, both memes and FUD flew around the market. Meanwhile, experts and analysts shared their takes on the development. On 25 September, Real Vision journalist Ash Bennington spoke to investment strategist and Real Vision CEO Raoul Pal to understand the significance of China’s latest move, and […]

Former US Treasury Secretary Larry Summers: Cryptocurrency Will ‘Do Better Regulated’

Former US Treasury Secretary Larry Summers: Cryptocurrency Will 'Do Better Regulated'

Former U.S. treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency will do better regulated in a sound way instead of being treated as a libertarian paradise.

Larry Summers Sees Crypto Benefiting From Strong Regulation

Lawrence Summers, who served as the Secretary of the Treasury in the Clinton administration and director of the White House National Economic Council in the Obama administration, talked about cryptocurrency regulation during an interview with Bloomberg Friday. A former chief economist at the World Bank, Summers is currently Harvard University’s President Emeritus.

He was asked why regulators worldwide are “deeply skeptical” about cryptocurrencies. China, for example, has been cracking down on crypto activities. Summers began by stating that the word “crypto” suggests a “desire for secrecy with respect to large financial sums,” elaborating:

When you have large financial sums happening in secret, you have risks of money laundering, risks of supporting various kinds of criminal activities, risks of innocent people being ripped off.

“The truth is that we wouldn’t have a viable airplane industry if we weren’t regulating airline safety,” he continued. “We wouldn’t have the transportation system we do if we didn’t regulate automobile safety.”

He added that the blockchain-based payments industry “is going to do better regulated in a sound way, rather than trying to be some kind of libertarian paradise,” noting:

I think the crypto community needs to recognize that, and needs to work cooperatively with governments and if they do that. I think that this innovation can be one of the important innovations of this period.

The former IMF chief economist pointed out that some people believe in the idea that cryptocurrency is “going to be some kind of a libertarian paradise where we are not going to be able to enforce bank rules, like knowing your customers [KYC], where we are going to be able to move money freely and avoid paying taxes.”

Summers opined, “I think it’s a recognition that all industries need to come to that are systemic in their importance,” adding:

It’s not entirely unlike the discussion of big tech companies. They need to have a regulatory framework. They don’t just need it for the protection of their consumers, they need it for the protection of themselves.

In conclusion, he said, “We wouldn’t have the New York Stock Exchange as the center of the world’s stock market if we didn’t have a strong SEC,” emphasizing, “Even if people didn’t like the rules some of the time.”

What do you think about Larry Summers’ comments? Let us know in the comments section below.

Rich Dad Poor Dad’s Author Now Invests in ETH After BTC and Gold

Robert Kiyosaki – founder of Rich Global LLC and Rich Dad Company – recently told his followers to invest in Ethereum before “the biggest crash in history.” Thus, the author of the best-selling book Rich Dad Poor Dad added ETH to BTC, gold, and silver as his most-preferrable investment instruments.

Kiyosaki’s Plea: Invest in Crypto

The multi-millionaire businessman and author issued his warning earlier this week on Twitter. He made an extremely pessimistic forecast for global financial markets, given the current state of US politics and Evergrande’s debt.

“US Gov out of money. Shutdown looming. Dems blame Republicans for the problem. Evergrande– China’s biggest property developer with 800 projects in 200 cities– out of money. Get the message? Get gold, silver, Bitcoin, ethereum before the biggest crash in history.  Take care.”

Kiyosaki is known for his aversion to fiat currencies due to their rampant inflation and his preference for stocks, real estate, and metals as a store of value. He welcomed Bitcoin among these a while ago and even considered buying more BTC during its most bearish point this year.

However, this marks one of the first times Kiyosaki has mentioned Ethereum as one of these safe-haven assets. Ethereum’s price tends to move more erratically than Bitcoin in the short term. However, it has generally followed the primary cryptocurrency’s movements across time.

Stop Arguing, Start Buying, says Kiyosaki

For Kiyosaki, the particular asset class he invests in is almost irrelevant. His wish is simply to avoid the collapse of fiat and the traditional monetary system, which he sees as inevitable.

He aired his feelings on this matter in March, during a Defi-focused episode of his podcast. He also said that he was personally invested in Ethereum.

“So I’m just grateful I have a lot of gold, silver, Bitcoin and Ethereum and I don’t get into the argument. Peter Schiff is always arguing about gold and silver and Max Keiser’s arguing back, and I think, ‘Why the heck are you guys arguing?’

Just get as much as you can right now because the government is screwed. We’re screwed. Our whole economy is screwed. We’re so deeply in debt, it’s like sinking into quicksand right and you’re arguing about gold, silver, Bitcoin. Just buy something.”

A third of Salvadorans ‘actively’ using Chivo wallet, President Bukele claims

On Sept. 6, El Salvador became the first country to adopt BTC as legal tender, attracting both praise and criticism from the global community.

Salvadoran President Nayib Bukele claims that 2.1 million of his fellow citizens are using the government-backed Chivo cryptocurrency wallet, offering a glimpse into the apparent success of the country’s Bitcoin (BTC) gambit. 

The controversial president updated his 2.9 million Twitter followers Saturday afternoon, claiming that Chivo “now has more users than any bank in El Salvador” after just three weeks in operation. Bukele indicated that it’s only a matter of time before Chivo adoption eclipses all banks in El Salvador combined.

The state-issued Chivo wallet launched in early September as El Salvador officially recognized Bitcoin as legal tender — a landmark move that could offer an important case study for other countries in the region. Chivo enables individuals and businesses to send and receive payments in Bitcoin or dollars from anywhere in the world. The wallet is available on both Android and Apple devices. As Cointelegraph reported, Mexican cryptocurrency exchange Bitso has signed on as the core service provider for Chivo.

Related: El Salvador’s credit rating could take a hit amid Bitcoin adoption, warns S&P Global

Bukele’s latest update suggests that the Bitcoin Law is being received favorably across the country, even as hundreds of anti-government protestors took the streets to voice their opposition. On Sept. 15, those protests culminated in the burning down of a crypto kiosk in the nation’s capital city.

To be sure, mass adoption of Chivo is due in part to the government airdropping $30 worth of BTC to every Salvadoran account holder. According to a recent survey from São Paulo-based agency Sherlock Communications, slightly more than half of Salvadorans have no familiarity with Bitcoin.

In the meantime, Bukele’s government has been filling its coffers with BTC following a series of volatile price swings for the digital asset. El Salvador “bought the dip” on at least two recent price drops — Sept. 7 and Sept. 20 — bringing its total holdings to 700 BTC.

As China Launches Fresh Attack On Crypto, Bitcoin Proponents Think It’s A Blessing In Disguise

Why PayPal Co-Founder Peter Thiel Believes China Could Be Weaponizing Bitcoin Against The U.S.

As China Launches Fresh Attack On Crypto, Bitcoin Proponents assert Why It’s A Blessing In Disguise

Why China’s fresh crackdown on crypto is the best thing to happen to the industry and will pay off significantly

China has been a huge powerhouse in the cryptocurrency industry for much longer than many other countries have been.

China has been home to some of the leading cryptocurrency exchanges, along with the majority of Bitcoin miners and mining equipment for a long period of time.

This has resulted in a significant upsurge in cryptocurrency trading from Chinese investors, whose market actions have always impacted the trajectory of prices.

Following the government’s crackdown on exchanges and miners, Bitcoin’s dominance in the country has gradually reduced. But the recent Evergrande crisis, which saw the real estate giant run into debt, stirred yet another market sell-off. Additionally, the recent Bitcoin ban from the people’s Bank of China, which has been off and on since 2013, has caused panic amongst investors.

Bitcoin proponents collectively agree that China’s clampdown on the asset is a blessing in disguise

It is typical to see bitcoin proponents react to the Chinese FUD with panic, as they have previously done on different occasions. But at this time, the market is increasingly coming to terms with the fact that Bitcoin can and will survive without the Chinese bulls.

In fact, many prominent figures have noted that the crackdown from the Chinese government on cryptocurrencies is going to be favorable for Bitcoin in the long term.

A lot of the citation dates back to previous events, where startup fintech companies were victims of the rigorous pushback from China. The Chinese ban is nothing new to the fintech market. Back in 2009, the county placed a ban on YouTube and Facebook. In 2010, Google saw the same fate, and in 2019, Wikipedia fell into the same pool. All the aforementioned organizations have gone on to thrive greatly, with billions of dollars in valuation. As such, Bitcoiners are branding China’s reaction as yet another phobia for new and emerging technology.

Interestingly, as noted by Crypto rating platform Weiss crypto, over-the-counter trading is still thriving at this time, therefore reflecting interest in investors regardless of the limiting guidelines. 

“Overseas OTC trading is booming in China, with the attempts of their central bank generally failing to keep millennials away from the global digital revolution. Chinese authorities playing an endless cat-and-mouse game with their own citizens.”

On the other hand, as U.S Senator Pat Toomey wrote in a recent tweet that echoes that of many Bitcoin supporters, the new development is an opportunity for the United States to accelerate Bitcoin adoption.

“China’s authoritarian crackdown on crypto, including #Bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China.”

Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade Soars

Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade Soars

Authorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year.

Indonesia to Tighten Regulations Without Prohibiting Crypto Transactions

The Indonesian government will not follow in the footsteps of China, which has confirmed a ban on all cryptocurrency transactions, the country’s Minister of Trade Muhammad Luthfi emphasized in comments to local media. The official added, however, that the government is looking into how to make them less prone to being used in illegal financial activities. Quoted by Berita Satu and the Jakarta Globe, Luthfi stated:

We don’t prohibit it, but we will tighten the regulations.

Cryptocurrencies such as bitcoin, ethereum, and dogecoin are currently regarded as assets and commodities in Indonesia. Their legal treatment allows residents of the Southeast Asian nation to trade the digital coins, but using them as a means of payment is not permitted.

This week, the Central Bank of China stated that transactions involving cryptocurrencies are illegal, echoing previously imposed restrictions. All related financial activities, including crypto trading, token sales, and transactions with virtual currency derivatives are also banned. The announcement, which hurt cryptocurrency markets, comes after a months-long crackdown on bitcoin mining and trading across the country.

Indonesian Crypto Trading Spikes in First Half of This Year

China’s reiterated firm stance on decentralized money affected crypto prices in Indonesia, too. Bitcoin (BTC) fell 7.4% on the country’s largest exchange, Indodax, to 595 million Indonesian rupiah (below $41,000) right after the PBOC notice on Friday. The price of the leading cryptocurrency by market cap has since recovered to 609 million rupiah per coin ($42,650 at the time of writing).

According to the reports, Indonesian crypto trade has been flourishing in the past year and a half. Transactions on 13 domestic exchanges authorized by the Futures Exchange Supervisory Board have increased by 40% in the first five months of 2021. During 2020, the transaction volume reached 65 trillion rupiah ($4.5 billion), the quoted data shows.

Meanwhile, the number of individuals involved in trading exceeded 6.5 million in May, from 4 million at the end of last year. Luno Indonesia, another major exchange operating in the country, expressed confidence it could double or even triple its customer base from the current 700,000 users. “The growth is breakneck today… Crypto is booming,” the platform’s manager Jay Jayawijayaningtiyas said Wednesday.

Do you think the popularity of cryptocurrencies will continue to grow in Indonesia? Tell us in the comments section below.

Cardano is Partnering With American Telecom Service DISH Network

The strategic partnership aims to introduce Cardano’s blockchain technology to DISH’s telecom services, likely to boost Cardano’s adoption and benefiting DISH’s users with 8 million digital identities (D.I.D) on phones satellite.

DISH and Cardano

Speaking at the Cardano Summit 2021, Hoskinson said that while the main idea was to create a network where users can move seamlessly from one space to another, the underlying business infrastructure has remained “ossified.”

“We think there’s a lot of intersection between the use of identity the movement of data capacity exchange and other things that can be done and explored.
And it can be done at a scale of millions to tens of millions, and eventually at a global scale. So, this is a super exciting relationship we can’t wait to see how it goes.” Said Hoskinson.

The IOHK founder added that he hopes the partnership will transform the entire model of the Telecom industry despite the challenges of implement blockchain technology into the field.

According to him, millions of DISH users will have network connectivity with Cardano, without the influence of centralized corporations. If it becomes successful, it could turn into the default business model for the telecom space.

DISH is one of the largest Telecom services, with over 19 million customers, that gives users full control of every aspect of their accounts. The company is also one of the first public companies to accept crypto payments, and is listed as a fortune-500 company.

ADA Remains Green in a Red Market

This and other positive news are pushing ADA’s price to higher levels, despite the bearishness surrounding the recent recycled Chinese FUD. As CryptoPotato reported earlier today, Cardano was Friday’s exception by remaining on the green while the altcoin market shed blood.

As press time, ADA is trading at $2.32, with a market cap of $75.5 billion, according to CoinGecko. ADA is now the third biggest cryptocurrency, following BTC and ETH.

Addresses with at Least 0.1 Bitcoin Soars to a 4-Months High. Is BTC Price Rebound Imminent?

ChinaChina

The cryptocurrency industry has experienced a number of turmoils in the past few months with the resultant effect being shown by the plunging in the price and valuation of assets in the ecosystem. Bitcoin (BTC) has been at the forefront of each of these fundamental turmoils, and the latest, involving China’s revival of its clampdown on all crypto-related activities notably pushed the price of the cryptocurrency to a 30-day low of $39,787.61.

Many retail investors have notably taken advantage of the price slump to “buy the dip.” This claim is further substantiated by data from Glassnode, a crypto markets analytics platform. Per the shared insight, the number of Bitcoin addresses holding at least 0.1 coins (about $4,261.43) has soared to a 4-month high of 3,246,533. In other words, the latest dip pushed more people to stack up on their assets, some for the first time, and others increased their portfolios.

BTC Addresses Holding 0.1+ Coins. Source: Glassnode

Many who are bullish on Bitcoin are often anticipating periods of price slumps to take up new positions in Bitcoin. While many are beginning to embrace altcoins with unique fundamentals, periods of corrections often serve as an opportunity to buy in and take profits all within a short time frame.

Is the retail buyup the basis for price rebound?

The price of Bitcoin has started seeing some mild recoveries as it is trading midway from the $40,936.56, lowest point to the highest price of $42,839.75 printed in the past 24 hours. For a stable or sustainable uptrend, Bitcoin will need an aggressive buying momentum beyond the capacity the retail holders are currently doing.

While currently changing hands at a price of $42,718.90, Bitcoin will need to consistently trade above the $45,000 resistance point, before it can regain its 7-day high of $48,328.37. From the sloppy movements seen by the 24-hour rate of gain of 0.31%, the chances that the needed recovery will be spearheaded by the current retail buyup.

However, Bitcoin and the broader digital currency industry is known to withstand and recover from the impact of all forms of Fear, Uncertainty, and Doubt (FUD) being spread by the threats of Chinese clampdown year after year in the past decade. This current clampdown will be no exception in the medium to long term.

The post Addresses with at Least 0.1 Bitcoin Soars to a 4-Months High. Is BTC Price Rebound Imminent? appeared first on Coingape.

LD Capital Establishes $50M FOF for Supporting High-Quality Blockchain Funds Worldwide Including 1kx

PRESS RELEASE. LD Capital announced it established a 50 million US dollars FOF towards supporting high-quality blockchain funds worldwide. Besides the financial support, hundreds of the projects invested by LD Capital will be shared as resources to the participated funds with post-investment services such as strategy consulting, market growth, and capital relations to enable the outstanding blockchain projects.

LD Capital FOF has invested in well-known global funds like 1kx, Kraken Ventures, Republic, Shima Capital, Big Time Eco-fund, Signum Capital, and Hero Ventures. LD Capital FOF will continue to invest global top tier blockchain funds, reach strategic cooperation with more outstanding funds, enable excellent blockchain projects, and promote the development of the blockchain industry.

LD Capital is a leading crypto fund in investment and trading in primary and secondary markets, whose sub-funds include dedicated eco fund, FoF and hedge fund.

Owing to industrial resources and professional investment and research team, LD Capital has successively discovered and invested more than 300 companies in DeFi/infra/protocol/NFT/Dapp/Metaverse/DAO/Layer2/GameFi fields since 2016.

LD Capital has 30+ industrial experts around the world based in China, Singapore, Australia, EU and US, who worked for financial and high-tech companies like Visa, Cisco and now actively invest in blockchain companies.


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Teens In India Are Becoming the World’s Next Big Crypto Fans

Teenagers in India are becoming the world’s newest cryptocurrency fans.

India Has Had a Weird Relationship with Crypto

India has had a very up and down relationship with digital currency. In the year 2018, for example, the nation’s central bank decided that crypto companies could not get access to bank accounts, and that standard financial institutions would not be permitted to work with any firm that delved in bitcoin or blockchain technology.

After two years, however, the ruling was labeled unconstitutional, and the ban came to a sudden end. From there, it was believed that India would be the next big crypto trading haven, and for a while, it certainly was… Until the Indian Parliament announced that it was suddenly looking into a full crypto ban that would ultimately bring an end to trading and many other digital currency-related activities.

Despite all these issues, the younger crowds of India have grown rather fond of bitcoin and its digital counterparts and have become the latest generations to become big digital currency investors. In 2021 alone, residents of India have plunked down approximately $6.6 billion into digital currencies. This is up from the already impressive $923 million recorded in 2020.

It seems that many of these younger investors are drawn to the fact that while volatile, cryptocurrencies can ultimately lead to one garnering huge profits and rewards. In addition, they say that crypto investing is a great way to beat the boredom that has stemmed from being locked in thanks to the ongoing coronavirus pandemic.

Hashir Hussain is a 17-year-old student from Kolkata. In a recent interview, he talks about why he’s so attracted to the world of crypto as of late:

As an investor, I think cryptocurrencies are a good way to exponentially grow your wealth. High volatility is a risk factor, but the profitability is a great plus.

As it turns out, many cryptocurrency exchanges based in India do not allow traders to engage in digital currency activity if they are less than 18 years of age. Many teenagers are finding ways to get by this rule by utilizing the credentials of their parents. Hussain is one of those people, stating:

I saw that the blockchain system is convenient and futuristic. It’s better to invest at an early age in new innovations.

A Little Goes In, a Lot Comes Out

Another big attraction is that many of these exchanges allow one to invest very little. This way, traders can experience less risk and thus garner more for the money they put in. Prabh Simran is a 19-year-old medical student based in Punjab. He recently stated that some of the trades he’s engaged in have brought him “1,000 percent returns.” He says:

Bank deposits hardly give us five percent in a year. I made sure my parents believed in cryptocurrency via small initial investments. Obviously, they’re liking the gains.

The post Teens In India Are Becoming the World’s Next Big Crypto Fans appeared first on Live Bitcoin News.

Cardano, BitTorrent, Dogecoin Price Analysis: 25 September

Amidst recovery, many altcoins showed consolidation along with slight gains over the last 24 hours. Cardano moved up and targeted its immediate resistance. BitTorrent also noted upward movement, despite technical indicators signalling bearish pressure in the market. Lastly, Dogecoin recovered, although buying strength remained in the negative territory.  Cardano (ADA) Cardano appreciated 9.4% over the […]

China’s clampdown on crypto might see Singapore turn beneficiary

The People’s Bank of China (PBoC) has banned all crypto-related activities, once and for all, in its latest order. This is, perhaps, the first time the nation has outrightly declared trading in digital currencies like Bitcoin ‘illegal’. Additionally, the enforcement this time around is backed by at least ten Chinese regulatory bodies and ministries, including […]

Crypto recovers on positive Fed and Evergrande news, then drops amid China FUD; Sorare and Dapper Labs raised a combined $930M: Hodler’s Digest, Sept. 19-25

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link.

Top Stories This Week

Crypto markets soar after Fed commits to printing and Evergrande plans to pay its debt

The crypto markets were showing signs of recovery during the week as the U.S. Federal Reserve committed to carrying on its spending habits, while Chinese real estate giant Evergrande was able to strike deals with bondholders to avoid default on its hefty loan obligations.

Evergrandes potential default on $305 billion worth of debt has essentially been a ticking time bomb that has loomed over the global financial market, with some asserting that this is Chinas Lehman Brothers moment. However, the firm is safe for the immediate term, and the news coincided with an 11.3% bump in Bitcoins (BTC) price on Tuesday.

The spike in price also followed comments from Fed Chairman Jerome Powell, who explained that the central bank plans to continue its ridiculous level of monthly bond purchases for the foreseeable future. Both reports suggest that FUD related to Evergrande and the Feds spending habits can now be shelved for a later date.

 

Old FUD, new BTC price dip Weeks-old China crypto ban sparks $42K Bitcoin price drop

Speaking of FUD, the crypto market recovery appears to be short-lived as old news regarding China was suddenly picked up on social media, sparking an instant price crash across the crypto market.

At the time of writing, Bitcoin is down 2.7%, Ether (ETH) is down 6.4%, and FUD is up 100%. This knee-jerk reaction was the result of a memo from the Peoples Bank of China, or PBOC, that criminalized practically all crypto activity except possession.

Chinese-language commentators noted, however, that the PBOC released the updated guidance on Sept. 15 but posted it online on Friday.

It seems odd that the market has responded to China banning crypto again, as it’s not like the local government has done anything to foster excitement about digital assets in the country of late. At this stage, they might as well get it over with and ban possession too.

 

Biden to nominate anti-crypto and anti-big bank law professor to run the OCC

On Thursday, reports surfaced that the Biden administration intended to nominate Kazakhstani-American attorney, academic, and former policy advisor Saule Omarova to head the Office of the Comptroller of the Currency, or OCC.

Omarova is a crypto critic who is also not so fond of the big banks, having previously vowed to end banking as we know it. Currently employed as a law professor at Cornell Law School, she is expected to clamp down on crypto with tighter regulation, as she thinks the industry threatens the stability of the economy.

If confirmed, bankers and crypto proponents alike may be in for some hairy moments as Omarova single-handedly works to tear down both sectors under the guise of protecting the economy.

 

Sports-themed NFTs spark gold rush as projects raise $930M in a week

To cleanse the palate, there was bullish news in the NFT sector this week as two firms known for tokenized sports collectible projects raised a combined $930 million in funding.

French-based soccer trading card NFT game developer Sorare closed a $680 million Series B funding round led by SoftBank at a valuation of $4.3 billion. Dapper Labs, the team behind the Flow blockchain and NBA Top Shot, also announced a $250 million funding round led by tech-focused hedge fund Coatue.

Sorare and Dapper Labs both outlined plans to expand their tokenized collectible model beyond soccer and basketball, respectively, along with scaling up their current widely popular NFT projects. The combined total of $930 million marks a significant bet on the tokenized sports sector at a time when the wider NFT market faces declining sales volume and floor prices.

 

John Cena calls his own NFT sales a ‘catastrophic failure’

John Cena, the WWE hall-of-famer known for his braggadocious you cant see me catchphrase, recently saw limited sales during his foray into nonfungibles.

The professional wrestler said that fans only purchased 7.4% of his WWE NFTs that were dropped last month, labelling the sale a catastrophic failure and citing the price point for the gold-tier NFT package as being too high at $1,000.

There were 500 gold tier NFTs offered in total, which were part of a package with physical collectibles, including a hat, shirt, wristbands, belt, towel, and autographed picture.

I talk a lot about failure this idea failed, said Cena. Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong.

 

 

Winners and Losers

 

 

At the end of the week, Bitcoin is at $42,223, Ether at $2,905 and XRP at $0.93. The total market cap is at $1.88 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Celo (CELO) at 49.84%, Celer Network (CELR) at 34.97% and Cosmos (ATOM) at 17.34%.

The top three altcoin losers of the week are Huobi Token (HT) at -32.21%, SushiSwap (SUSHI) at -28% and EOS (EOS) at -26.22%.

For more info on crypto prices, make sure to read Cointelegraphs market analysis.

 

 

Most Memorable Quotations

 

We have absolutely no intention of embracing cryptocurrencies. […] On the contrary, we have a separate war, a separate fight against them. We would never lend support to [cryptocurrencies], because we will move forward with our own currency that has its own identity.

Tayyip Erdoan, president of Turkey

 

A Matisse painting can run $100 million because a small amount of people decide theyre worth $100 million. Over 150 million people around the world that have decided Bitcoin is worth something. Thats enough for me.

Mike Novogratz, CEO of Galaxy Digital

 

Stablecoins are almost acting like poker chips at the casino right now.

Gary Gensler, chairman of the U.S. Securities and Exchange Commission

 

Ninety-nine percent is about being in the right circle, having the right information at the right time. In the NFT space, you live with this constant frustration that you have missed a chance to make $1 billion.

Gauthier Zuppinger, chief operating officer of Nonfungible.com on NFT investing

 

I know the crypto lovers never want to hear me say sell, but if youve got a big gain as I did, well, Im begging you to. Dont let it become a loss; sell some. Stay long the rest, then lets wait and see if China changes its attitude toward an Evergrande bailout.

Jim Cramer, host of Mad Money on CNBC

 

I think we should always be open-minded and, as such, Im very interested in all new creations and expressions from the art world. Metaverses will emerge, but I still believe physical art will always reserve a very special place in everyones collection.

Elio DAnna, founder of HOFA

 

The ultimate test we will apply when assessing a central bank digital currency and other digital innovations is, Are there clear and tangible benefits that outweigh any cost and risks?

Jerome Powell, chairman of the U.S. Federal Reserve

 

I’m uncomfortable with any non-physical currency being the only currency.

LordPimpernel, Texan and Redditor

 

Prediction of the Week

 

Bitcoin heavy breakout fractal suggests BTC price can hit $250K$350K in 2021

A Bitcoin analyst by the name of Bit Harington on Twitter recently posted a chart suggesting a possible upcoming price rally for BTC, if history repeats itself.

Harington drew levels on top of a Bitcoin price chart from Buy Bitcoin Worldwide and Twitter user PlanB. Haringtons levels essentially showed Bitcoin price resistance levels following Bitcoins 2012 and 2016 halvings. On both occasions, price rejected off the resistance levels, gathered steam, and then broke through the levels later, leading to significant rallies.

Following those price rallies, Bitcoin then eventually returned to those breakout levels, finding them as support. Harington listed the new resistance level as $60,000 on their chart. So far, the chart shows Bitcoin rejecting off that level, subsequently finding support and looking upward back toward the resistance level.

Harington noted that BTC jumped above the two previous resistance levels by a factor of about six each time. Analyst Michal van de Poppe took a peek at the chart, crunched some numbers, and determined that BTC could reach up near $250,000 to $350,000, followed by a drop back down near $65,000 if BTC reacts similarly to the past.

This week, however, Bitcoin faced a number of downward price moves and comments indicating future bearish expectations for crypto surfaced.

FUD of the Week

 

We are at war with crypto, says Turkish President Erdoan

According to Turkish President Recep Tayyip Erdoan, the country is at war with cryptocurrency but quite fond of blockchain tech.

Erdoan hosted a Q&A event in Mersin, Turkey with naive youth from across the country who had no idea that crypto was posing a threat to their sovereignty. When asked for his opinions on cryptocurrencies, and whether the central bank would embrace crypto, Erdoan didnt mince his words when he said, We have absolutely no intention of embracing cryptocurrencies.

On the contrary, we have a separate war, a separate fight against them. We would never lend support to [cryptocurrencies], because we will move forward with our own currency that has its own identity, he added.

 

Binance to cease crypto futures and options in Australia

The worlds biggest crypto exchange Binance has yet again limited its services in another country after crypto investors in Australia were notified that they have 90 days to close their positions for futures, options and leveraged tokens.

As of Friday, Aussies are no longer able to increase or open new positions for derivatives products on Binance. However, they will still be able to top-up their margin balances to prevent liquidations and margin calls in the meantime.

According to the latest announcement, Binances crypto futures and options market will cease on Dec. 23 as the firm restructures itself in order to reach its regulatory compliance goals.

We are committed to our industry for the long term and we want to ensure our product offerings are welcomed by users and local regulators, a spokesperson for Binance told Cointelegraph.

 

Latest DeFi hack targeting BSC sees $12.7M in Bitcoin stolen from pNetwork

Cross-chain DeFi platform pNetwork became the latest protocol to be hacked on Binance Smart Chain after the team reported a loss of roughly $12.7 million worth of Bitcoin on Monday.

According to a Twitter thread published by pNetwork, the hackers swiped 277 pBTC from the exchange the majority of the networks collateral. The team noted the attack was executed by exploiting a bug in its codebase, adding that a fix was already in the works.

The pNetwork team was also kind enough to offer the hacker a $1.5 million bounty if the stolen funds were returned.

 

Best Cointelegraph Features

Ethereum killers or just pretenders? But Ether remains king for now

The issue of high gas fees rears its head up for the Ethereum community yet again as Ethereum killer networks continue to gain more attention.

Adapt or die: Payments giants partner with crypto firms to ensure security

Mastercards upcoming acquisition of CipherTrace demonstrates the need for payments giants to partner with crypto firms to enable digital asset innovation.

Ukraine joins the comity of crypto-friendly nations with new regulation

Unlike Russia, Ukraine has passed laws that will ease the adoption of cryptocurrencies within the country.

Chainlink Labs Has ‘A Tremendous Amount of Respect for the Cardano Ecosystem’

Earlier today (September 25), Niki Ariyasinghe, Head of Business Development (Asia-Pacific, Middle East and Africa) at Chainlink Labs, discussed with Tim Harrison, Marketing & Communications Director at IOHK (aka “IOG”), the technology company that develops the software implementing the Cardano protocol, a new strategic collaboration that will “help developers build smart contracts for Cardano DeFi applications.” […]

Over Halfway Through September! Is Bitcoin Still On Track To Break The Trend Of Bad Septembers?

Bitcoin Bears Are Hunting Crypto Prices — Here’s How Low BTC Could Go This September
  • Bitcoin hit the $51,000 mark earlier this month amid doubt following a historic poor run of form in September.
  • The cryptocurrency giant has always had bad Septembers, being in the red zone six out of the last eight. 
  • The price falling back to $42,700 losing 12% this week has led to experts weighing in on the possibilities of Bitcoin turning the tide this year.

The volatility of cryptocurrencies is one of the notable characteristics of the market. Bitcoin has had its fair share of ups and downs over the years but September has always come with a bad trend wiping billions off the cryptocurrency market. This month, due to recent events, it is still wide open for anything to happen.

Bitcoin’s September Jinx

Bitcoin has had six bad September out of the last eight. Although there is no tangible reason for this bad trend, it has become a psychological issue in the market. While months like September almost always end up bad for Bitcoin, April has a positive aura for the coin. Unlike September, the reason for Bitcoin’s strong April is always linked to the end of the UK and US tax year.

BTCUSD Chart By TradingView

In 2013, Bitcoin fell from an all-time high of $240 to $137 in September. In 2014, Bitcoin also fell from $482 to $377 in September. Some experts feel that the September trend is only noticeable because of the increase in the following months. In 2017, BTC which was trading at $3,682 was trading over $19,000 in December. 2018 witnessed a similar situation with Bitcoin trading at $8,100 in September rising above the $20,000 mark by the end of the year. 

September 2021: Where Will The Market Go?

Though analysts regard September as a bad month for Bitcoin, optimism heightened this month as bitcoin rose to $51,000 going above $50,000 once more. Following a string of positive news like El Salvador adopting the cryptocurrency, institutional investors continue to indicate significant interest in the asset. If bitcoin has a positive September, it could spell the start of another strong price rally for the markets.

While things looked good, BTC fell as low as 8% on Monday to trade at $41,353 as regulatory fears intensified. This has left room for traders to doubt the earlier gains bracing up for another possible crash in September. On September 1st, Bitcoin was trading over $47,000 and is currently in the red zone in yet same September.

Why It Matters? 

Bitcoin is the largest cryptocurrency by market capitalization accounting for 42.3% of the current market capitalization. The price of Bitcoin has a strong influence on the prices of altcoins. If Bitcoin falls in September, analysts expect altcoins to experience a similar slump in their prices. Furthermore, the performance of bitcoin in September could set the ball rolling till December.

Derivatives data suggests Solana has reached a short-term top

SOL's futures open interest recently hit $1 billion and while the recent price swing liquidated leveraged longs, data suggests the short-term top is not a bearish trend reversal.

Solana (SOL) reached a $216 all-time high on Sept. 9 after rallying 508% since Aug. The bull run caused some analysts to project a $500 target which would translate to a $150 billion market capitalization.

It is worth noting that during SOL's rally, the Ethereum network's average transaction fee had surpassed $40. Surging interest in the NFT market accelerated investors' transition to Solana, which was boosted by FTX's NFT marketplace launch on Sept. 6.

Solana, Avalanche, and Cosmos price at Binance. Source: TradingView

The above chart shows SOL's two-month performance compared to Avalanche (AVAX) and Cosmos (ATOM). Both are fighting for the same decentralized application user-base and offer faster and cheaper transactions compared to Ethereum (ETH).

Major players in the industry also invested in Solana's ecosystem due to its potential against Ethereum. In June, Andreessen Horowitz and Polychain Capital led a $314-million funding round in Solana Labs, which was also funded by venture capital firm Andreessen Horowitz, Polychain Capital and Alameda Research.

Is Solana's outage weighing on SOL price?

At SALT Conference 2021, Solana founder and CEO Anatoly Yakovenko told Cointelegraph that the network "is optimized for a specific use case: online central limit order book, a trading method used by exchanges that matches bids with offers. It was designed for market makers who need to submit millions of transactions per day."

Yakovenko then added: "There are Pareto efficiency tradeoffs. If I optimize for hash power security, that means I can't have a lot of TPS. You have to pick one or the other."

Curiously, on Sept. 14, the Solana network experienced an outage that lasted over 12 hours. The team explained that a large increase in transaction load to 400,000 per second had overwhelmed the network, creating a denial-of-service that caused validators to start forking.

Solana futures aggregate open interest. Source: Bybt.com

Despite the recent setback, Solana futures markets aggregate open interest sits at $1 billion, a 640% increase in two months. This figure makes Solana's derivatives market the third largest, behind Bitcoin (BTC) and Ether. This data confirms investors' interest, but it can't be deemed bullish because futures buyers (longs) and sellers (shorts) are matched at all times.

Derivatives markets point toward a balanced situation

To answer this question, one must analyze the funding rate. Perpetual contracts, also known as inverse swaps, have an embedded rate usually charged every eight hours. This fee ensures there are no exchange risk imbalances. A positive funding rate indicates that longs (buyers) are the ones demanding more leverage.

However, the opposite situation occurs when shorts (sellers) require additional leverage, and this causes the funding rate to turn negative.

Solana perpetual futures 8-hour funding rate. Source: Bybt.com

As depicted above, the eight-hour fee reached a 0.12% peak on Sept. 5, which is equivalent to 2.5% per week. This momentary spike seized rapidly as SOL faced extreme volatility on Sept. 7. After peaking at $195, the SOL price crashed by 35% within 9 hours and liquidated leveraged positions, leading to the current balance between the longs and shorts.

Data shows no evidence of investors rushing to add leveraged long positions despite the current $1 billion open interest. Moreover, considering the 410% gain in the last two months, traders have reason to fear further downside because Bitcoin has also failed to break the $50,000 psychological barrier and it is yet to confirm if the recent sub-$40,000 dip was the short-term bottom.

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

New Survey Shows Australian’s Love for Crypto is Fueled by These Noble Drives

Australians appear to be more knowledgeable in their investment strategies as many are beginning to buy into cryptocurrencies for the right reasons. As highlighted in a recent survey conducted by BTC Markets, it was shown that acquiring digital assets was not a function of ideas to get rich quickly, rather, investors who are purchasing digital currencies are doing so to build wealth, and for retirement purposes amongst others.

Per the survey, 70% of the respondents to the survey said their sole aim of embracing crypto is to build wealth. This is a possible scenario seeing the high rate of growth of established coins compared to traditional investment assets. 34% of respondents buy-in to crypto so they can fall back on the gains when they retire, with some 28% affirming their aim to be portfolio diversification.

Cryptocurrencies have matured when compared to the level it was in the past decade. Today, institutional investors, as well as retail buyers, are all bullish on Bitcoin (BTC), Ethereum (ETH), and other altcoins with unique fundamentals.

“The motivations for investing in cryptocurrency are many and varied. A majority of respondents to our survey, 70 per cent, say they are looking to build wealth. A significant percentage, 34 per cent, say that one of their goals for investing in cryptocurrency is to retire early.”

The reasons for acquiring crypto also span such needs as paying down for debts (at 12%), and in starting a business claimed by 4% of the respondents.

Diversity in Investor’s Portfolio

The investors who responded to the BTC Markets survey show diversity in their investment portfolios. This trend shows that despite the rising popularity of crypto assets, the bulk of investors are not in it for the frenzy attached to meme-tokens.

Of the total respondents, as much as 63% said they have investments in stocks or shares, 29% have injected capital in investment properties, while 20% said they have funds in precious metals including Silver and Gold. Of the profiled investors, only 20% said they hold only cryptocurrencies.

Drawing on this diversity, the report reads;

“This spread of investments across a wide range of asset classes consolidates the view that a large majority of investors are not using cryptocurrency as a “get rich quick” investment. Instead, it is as part of a carefully considered asset allocation strategy for an overall wealth portfolio”

The post New Survey Shows Australian’s Love for Crypto is Fueled by These Noble Drives appeared first on Coingape.

The ‘Feels Guy’ Gets Blockchained — Rare Wojak NFT Project to Launch 4,000 Randomly Generated Wojaks

The 'Feels Guy' Gets Blockchained — Rare Wojak NFT Project to Launch 4,000 Randomly Generated Wojaks

While Pepe the frog and Doge made it into the limelight with unique and rare non-fungible token (NFT) assets, another NFT meme collection tied to the infamous 2010 meme “Wojak” has entered the fray. A new NFT collection stemming from the web portal called rarewojak.com has leveraged the notorious, old-school meme to release a compilation of Rare Wojak NFTs via the Solana network.

Meet the Rare Wojak NFT Collection

Wojak is an 11-year-old meme that appeared on the now-defunct imageboard Krautchan and after the picture went viral it could be seen regularly on sites like 4chan. Wojak has a number of variants. The meme is also known as “Feels Guy” as people used to comment “I know that feel bro” after posting the meme. One notable Wojak variant is the “NPC Wojak,” which became a viral visual interpretation of individuals who can’t think for themselves. Alongside “NPC Wojak,” there’s also the “Coomer,” the “Doomer,” and “Soyjak.”

Just like Doge and Pepe the frog, Wojak is a popular meme among crypto proponents and the Wojak variants are shared regularly. For instance, there’s a meme of a Wojak losing all his money from investing in crypto-assets and getting the ‘feels’ from working at McDonald’s following the crypto-market dump. In that specific meme, Wojak sports a McDonald’s uniform and hat, his gray skin features crypto symbol tattoos on his arm, and he’s in tears because he has returned to work at the fast food chain’s grill.

Now a non-fungible token (NFT) collection featuring Wojak has joined the thousands of NFTs circulating around the blockchain ecosystem. The project comes from the website rarewojak.com and the team’s official Twitter handle is called “@rare_wojak.” The collection is on the Solana (SOL) blockchain and in recent times, the team has been teasing and dropping random Wojak NFTs to the project’s followers on Discord and other channels.

“Attention Frens,” the official Rare Wojak NFT project’s Twitter handle said. “Do you like Wojaks? Are you an NFT enjoyer? Then say no more, you’re in the right place.” Additionally, on Discord and Twitter, the creators have been sharing previews of some of the Wojak artwork used for the NFT collection.

Candy Machine Launch, Legendary Video Wojaks to Be Time-Released

The collection launch is on October 1, 2021, and by utilizing Solana, the team will also use Candy Machine for 24 hours. Basically, Candy Machine is an onchain protocol that governs a fair minting process. The web portal notes that there will be “4,000 randomly generated vectorized Wojaks with 50+ traits.” Moreover, Legendary Video Wojaks are also slated to be launched and will be “time-released in the days following the sale.”

“This NFT project is dedicated to ‘that feels guy,’ Wojak,” the website details. “We’ve tediously rebuilt Wojak as vectors for the crispest Rare Wojak’s on the internet. The end result is X randomly generated unique Rare Wojaks you can own, trade, and use in any way you choose. While all of the art is technically new as it [has] been rebuilt, the charm and detail of the original has been preserved wherever possible.”

What do you think about the Rare Wojak NFT collection? Let us know what you think about this subject in the comments section below.

Robinhood Is Debuting Its New Crypto Wallet System

Digital trading platform Robinhood is unveiling a new line of crypto wallets. The company has gotten heavily into the digital currency space over the past few years and is allegedly looking to capitalize on its newfound popularity in the field.

Robinhood Is Pushing Its Crypto Division Forward

The wallets will be rolled out in phases. In the beginning, they will only be available to select customers, though Robinhood has stated that should things work accordingly, the wallets will then be offered to general traders. The wallets are designed to give customers a little more control over their assets. They can use their wallets to trade, send, and receive cryptocurrencies.

Following the news, shares in Robinhood rose as much as five percent. The wallets come following direct complaints from Robinhood crypto traders, particularly those who engage in Doge trades. Several have claimed that while the company ultimately gives one exposure to the crypto market, traders do not actually own the currencies they purchase.

Robinhood chief product officer Aparna Chennapragada explained in an interview:

We’re not first to the market. We’ve been taking our time to make sure that we build this in a phased approach. We’ll have a few customers come in, iterate on the product, get the customer feedback and then expand from there.

The customers who will initially take part in the testing period for the wallet system will utilize the products and provide feedback on both Twitter and the Robinhood blog. Depending on the things people comment on, the team will work to change and perfect the wallet from there, after which it will likely go through a second period of testing.

Once this is complete, customers will be able to join a wallet waiting list.

Robinhood debuted its crypto trading options roughly three years ago. Arguably, 2021 has been the biggest year for the company in that Robinhood stirred controversy over its reaction to Doge and bitcoin price jumps that occurred in January. During that time, both assets were experiencing heavy spikes within relatively short periods.

A Big Year for the Company

Claiming it was looking to keep its customers safe from potential manipulation, Robinhood saw to it that all trading in these areas stopped, which ultimately angered customers who later claimed that they were cut out of potentially taking advantage of the price jumps and raking in profits. A lawsuit was later initiated by several traders.

This didn’t stop the company from moving forward with other plans, as Robinhood later announced that it was going to be expanding its cryptocurrency division and that it would be going public. The growth of its crypto department comes at a time when Gary Gensler and the Securities and Exchange Commission (SEC) announced an agenda that would look to enforce greater crypto regulations so that traders could be protected from the volatility that reportedly comes with digital assets.

The post Robinhood Is Debuting Its New Crypto Wallet System appeared first on Live Bitcoin News.

Coinbase CEO Brian Armstrong: ‘I Own a Ton of Bitcoin’

On Thursday (September 23), during an interview, Coinbase Co-Founder and CEO Brian Armstrong talked about Bitcoin. Armstrong’s comments about Bitcoin were made during an interview on The Best Business Show, which is hosted by  Anthony Pompliano (aka “Pomp”), Co-Founder and Partner at Morgan Creek Digital Assets. Armstrong said that he is still excited by Bitcoin and […]