Author: dfmines

Millennial millionaires are the subset of millionaires most bullish on crypto, a new CNBC survey has found. Millennials hold more of their wealth in cryptocurrencies compared to any other millionaire class and have said they plan to add more to their crypto investments next year. This indicates a move from more traditional forms of investments towards digital assets as the major investment vehicle. Millennials Making Millions From Crypto The CNBC survey found that millennial millionaires were more likely to put more of their wealth in crypto. In fact, about 53% of all millennial millionaires currently hold about 50% of their wealth in cryptocurrencies. These investors were those who had at least $1 million or more of investible assets with the exception of primary residences. Of all millennial millionaires, 83% said that they actually held crypto. Related Reading | Investors Take Refuge In Bitcoin As Inflation Rises Findings from the survey also showed that a significant portion of these investors made their wealth from investing in cryptocurrencies and these investors were planning to put more money into crypto in 2022. 48% of the polled respondents said that they planned to increase their crypto holdings in the next year, while 39% said they planned to maintain their current holdings. Crypto total market cap at $2.16 trillion | Source: Crypto Total Market Cap on TradingView.com About a third of the total polled investors admitted to having at least 75% of their entire wealth in either bitcoin, ethereum, or other cryptocurrencies. These investors remain unfazed by the market downtrend. Instead of turning to avenues Baby Boomers would use for investments, cryptocurrencies are the go-to for millennial millionaire investors. This shift towards crypto is even more evident in the Gen Z generation who are graduating into an economy where crypto investments are the first point of contact as a new investor. Not Scared Of Volatility One of the discouraging factors for most when it comes to crypto investments has been the volatility that is associated with these digital assets. Major price swings either up or down have largely characterized the space since its inception but millennial and Gen Z investors do not seem to mind the fluctuating prices. George Walper, president of Spectrum Group, which carried out the survey in conjunction with CNBC, noted that crypto investments by the younger generation have demonstrated “a big difference between different generations of wealth.” In the survey, only 6% of millennial millionaires polled had said they were planning to reduce their crypto holdings. Related Reading | New Robinhood Feature Allows Users To Gift Crypto To Family And Friends In contrast to this, only 4% of baby boomers are said to hold cryptocurrencies with more than 75% of Gen X investors not owning any crypto at all. The difference here is stark and will affect the way wealth managers cater to their clients going forward, the report noted. As for the volatility, millennial millionaires do not mind it at all given the returns that they have gotten from. “They seem to be comfortable with the volatility,” Walper stated. Featured image from Travel.Earth, chart from TradingView.com

Blog: https://medium.com/geekculture/how-to-do-your-own-research-fa659d4b7143 I recently wrote this blog to help beginners to intermediate level crypto investors. What other good data sources am I missing? submitted by /u/AlexandreL1984 [link] [comments]

2021 is coming to a close and the Ethereum network still has a fee problem. Here’s how competitor networks attempted to capitalize on Ethereum’s unresolved issues.

Seoul looks to join the metaverse starting in 2023, Meta challenges a women’s right to control the Instagram handle “metaverse,” and Francis Haugen issues a warning about the potential risks of the virtual world.

submitted by /u/Ashamed_Werewolf_325 [link] [comments]

I just checked a staked account of mine and wanted to undelegate some tokens so that I could restake with another group, but the gas fees just to unstake the tokens was ~$135USD. Is this really still a problem? Please tell me 2.0 is coming soon. Edit: Let me clarify my post. When I staked…
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Bitcoin price quoted in United States dollars has been suffering from a sharp and sudden downtrend after setting a new all-time high in November. But when quoted in Turkish lira, the top cryptocurrency kept on climbing in November and has never looked back. The result? A shocking cryptocurrency price chart you simply have to see to believe. We’ll also explain the background behind the devastating downtrend in TRYUSD. BTCTRY: Bitcoin Makes A Bullish Bet Against Struggling Currencies All throughout the history of Bitcoin price action, after setting a higher high, the notoriously volatile cryptocurrency would blast off to a cycle climax. But the recent macro concerns around the Federal Reserve’s plans to raise rates put any bullish momentum on pause. Related Reading | This Bitcoin Morning Star Could Brighten The Bullish Narrative In A Flash Instead of new highs in BTCUSD, the top crypto asset by market cap has fallen by 38% or around $20,000 per coin. However, crypto assets don’t only trade against the dollar, much like BTC can trade against altcoins like ETH. Bitcoin trading against the lira looks a lot different than the dollar | Source: BTCTRY on TradingView.com Bitcoin can be quoted in the euro, yen, or in the case of the chart above, the Turkish lira. On the BTCTRY trading pair, after the all-time high was breached in early November, the bullish trend has yet to take a breather – let alone the steep correction seen in USD terms. Behind The Turkish Lira Plunge, An Omen For The Dollar? The flight to the dollar caused by the mere mention of rate hikes has decimated assets. In Turkey, the opposite is happening. Under president Recep Tayyip Erdoğan, Turkey’s central bank has cut interest rates by a full percentage point five times since September, sending the nation’s currency into a free fall. Related Reading | Bitcoin Falls Flat: Examining A Rare Bull Market Corrective Pattern During this time frame, the lira has fallen 50% against the dollar. Inflation in the country has also increased by 21%. Central banks in Turkey have attempted to intervene several times without success, selling off the country’s reserve of USD. The lira has been in free fall against USD | Source: TRYUSD on TradingView.com In response to inflation concerns, Erdoğan has raised the minimum wage by 50%, which Marek Drimal at Société Générale claims “will fuel inflation pressures further, together with the cumulative impact of the lira’s weakness”. Additional, unspecified measures are also promised. But will they work? The lira is an example of what happens when there are no more levers left to pull. The United States Federal Reserve has a lot more shock and awe left in its war chest, but even it is struggling to balance markets, inflation, and a currency meltdown. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com