Category: Cryptocurrency News

The summons requires M.Y. Safra Bank to submit information about taxpayers who failed to report and pay their taxes on crypto.

The Web3 software solutions company Chain announced the company has partnered with Kraft Sports + Entertainment, the owners and operators of the New England Patriots, New England Revolution, Gillette Stadium, and Patriot Place. Chain details that the multi-year deal will allow the company to serve as the company’s “official blockchain and Web3 sponsor.” Chain Inks […]

Polkadot has proven successful in a number of areas recently. Data from Santiment shows that there has been a dramatic increase in development on Polkadot. But does this mean a brighter future for Polkadot? Data shows that the highest amount of transfers occurred on September 16. In addition, there’s even better news. Parallel chaining is likewise very active. The volume of transactions using these secondary chains on the Polkadot main chain is an indicator of this action. The GLMR token from Moonbeam and the MOVR token from Moonrivers are two of the most well-known. Chart: TradingView.com Related Reading: What Ethereum Can Bring On The Table For ETH Investors In Q4 Polkadot Investors Up In Numbers Investments on Polkadot are also at an all-time high, with DFG coming in first place with 52 active projects. While these claims certainly sound promising, how will they impact DOT’s market presence? The coin’s performance on the market has improved, thanks to recent changes. Investor confidence in Polkadot’s ecosystem and native token DOT can increase if the crypto market recovers with the broader financial markets. Both the DeFi and the more conventional financial markets are experiencing unfavorable market circumstances that make price changes unlikely. The recent increase in interest rates by 0.75 percent exacerbates the already intense selling pressure. DOT Challenged By Adverse Market Conditions Fear caused by recent CPI data is still evident on the charts as bears continue to test the lower part of the Donchian channel. Even though bulls are attempting to gain momentum, adverse market conditions continue to outweigh them. DOT is trading at $6.48 as of this writing, down 6.5 percent in the last seven days, data from Coingecko show. However, DOT is expected to receive excellent news from the charts. The critical support at $6.04 has slowed the price’s precipitous decline. It bolsters the strengthening bullish trend, which is more evident on the 4-hour to 1-hour tick indicators. The price has settled between $6.04 and $6.83 near the center channel. After a sharp rejection candle at the opening of today’s trading session, the bulls may be able to penetrate and consolidate above the immediate resistance level of $6.57 if there is less volatility around these price levels. The current price movement according to the XABCD harmonic pattern indicates that investors and traders should buy the dip, so propelling the price into an uptrend. Related Reading: Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level DOT total market cap at $7.15 billion on the daily chart | Source: TradingView.com Featured image from VOI.id, chart from TradingView.com

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

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

Ethereum developer Preston Van Loon encouraged GitHub to fully restore Tornado Cash’s repositories after partial unbanning.

When it comes to choosing between going into forex trading or crypto trading, there are a number of things that traders must take into account before picking one over the other. While there are traders who tend to do both, a lot of traders still go the route of picking one over the other to focus on. This report takes a look at the unique offerings provided by both crypto and forex trading, as well as the benefits associated with these highly sought-after markets. Benefits Of Forex Trading Forex trading is one of the oldest and largest forms of trading currently available. Simply put, it is the conversion of one currency to another in a bid to make money when one currency gains or loses strength against another currency. So, a trader buys a currency, say USD, waits for it to go up or down, depending on their position, and then sells for another currency. Here are the pros of forex trading. Liquidity One of the most important things when it comes to trading any type of asset is having enough liquidity. Given that the forex market is the largest in the world, recording an estimated $6.6 trillion in daily trading volume, there is a lot of liquidity in the market. This means that there is a good depth of market across the available trading pairs. Leverage Leverage is something that is abundant in the forex market. Forex brokers are able to give incredibly high leverage to forex currency trading pairs due to the low volatility in the market. In some cases, leverage can go as high as 30:1, allowing traders to trade larger amounts than they have in their accounts. So, using leverage, traders can open larger positions than they hold in their balances. Photo by Marga Santoso on Unsplash Low Trading Cost Another important thing when it comes to forex trading is the significantly low trading costs associated with it. Forex traders tend to pay what is known as a ‘spread’ and/or a ‘commission’ of about 1 pip for each trade completed. This 1 pip translates to roughly 0.08% of the trade. Diverse Options There is an abundance of trading pairs to choose from in forex trading. Traders can choose to trade across major pairs, minor pairs, or lesser-known pairs/exotic pairs. There is simply something for every trader in the market. Stability The stability of the forex market is also a big draw for traders. Now, the market carries its own risk, but since it is not as volatile as cryptocurrencies, there are no wide fluctuations that can quickly wipe out an entire portfolio in a matter of minutes or seconds, thanks to the large volume of trades recorded in the forex market. Benefits of Crypto Trading The crypto market is still relatively new but has grown rapidly in popularity among investors. The assets in the market are produced by a large variety of individuals and entities and, in some cases, are completely decentralized using blockchain technology. The pull of the crypto market towards traders gets stronger each day, and here are the reasons why. High Volatility The high volatility present in the crypto market has made it very enticing for traders who desire larger margins when it comes to trading. A lot of the assets in the crypto market are not regulated by an entity. Hence, they tend to fluctuate wildly in price. These fluctuations present an opportunity for traders to make a lot of money in a short time. However, it also significantly increases the risk of traders losing their positions in one fell swoop. Photo: Pixabay Low Barrier to Entry Unlike forex trading, traders do not need to go through a broker to be able to trade. Instead, they can just open an account in a centralized exchange, deposit some money, and get started. Traders can also have direct access to the market through decentralized exchanges where they can deal directly with other traders without interference from a third party. The Market Is Always Open Cryptocurrencies do not have what is referred to as “trading hours.” Simply put, the market is always open, and traders can execute trades no matter what time or what day it is. This ‘always open’ feature is a huge pull for traders who do not wish to be restricted to certain hours or days of the week. Conclusion Picking between crypto trading and forex trading is usually up to the discretion of the trader. However, platforms such as Oanda have made forex trading easy, even for beginners. The platform offers a demo account where traders can learn and sharpen their skills before moving on to a live account. The platform is one of the fastest and most reliable forex trading sites, featuring more than 65 popular indicators to help traders pinpoint forex price trends.     Image by Sergei Tokmakov, Esq. Terms.Law from Pixabay  

The U.S. dollar value of the recently airdropped coin native to the forked Ethereum proof-of-work (PoW) blockchain will be at par with that of ether, Chandler Guo, the instigator of the latest Ethereum hard fork, has said. Guo added that he expects the value of the token, which is currently “very cheap,” to grow by […]

As expected, Ethereum has been doing poorly since the much-touted Merge event. This was a groundbreaking moment for the crypto industry. Although the Merge was anticipated to boost investor confidence, it occurred at the worst possible time. The Merge took place at an interesting point in crypto history. The update went up on September 15—just two days after the United States CPI data was made public. There was a widespread selloff in the stock markets because of the Federal Reserve’s interest rate increase, reporting its annual inflation rate hike of 0.1%, and affecting the cryptocurrency market. On the day of publication, Bitcoin dropped 12.71 percent, and Ethereum fell 12.67 percent. The timing of the Merge’s launch was a last-ditch effort to maintain or perhaps boost investors’ trust. However, that did not actually occur. Related Reading: Polygon (MATIC) Downward Trajectory Faces Resistance At $0.94 Level Ethereum (ETH) Price Down 21% When everything was said and done, the Ether’s price had dropped by 21.1% compared to its 7-day moving average, as measured by CoinGecko. But @CryptoGucci, a Twitter user, disputes this. One Twitter user explained why the recent price decline shouldn’t be worrying. The increasing prevalence of Ethereum validators on the blockchain is a prime example. This increase in validators can improve the Ethereum blockchain’s overall efficiency. Additionally, the state of Colorado has accepted ETH as a payment method through PayPal. However, this payment method is exclusive to personal PayPal accounts and not commercial ones. Nonetheless, this will undoubtedly aid the adoption of the ETH ecosystem. Is An ETH Recovery Imminent? Recent data indicate that ETH is witnessing a positive price increase. After a near-freefall to $1,243, the price has rebounded and is currently trading between $1,221 and $1,323. Multiple indicators also depict a strengthening bullish momentum. Since the decline to the critical support level, stochastic relative strength index (RSI) values have risen, indicating that investor confidence is rebounding after a dreadful few days. But are new changes sufficient to halt the current 0.75 percent interest rate increase? As the cryptocurrency market closely mirrors the broader financial environment, the recent movements may be temporary. Wall Street’s indices have declined by a few percentage points as of this writing, and this decline can have a significant impact on the cryptocurrency market. As the third fiscal quarter draws to a close, Ethereum may experience a slow but gradual comeback. Related Reading: Aave (AAVE) Attracting Whales Over Past Few Months – Will It Spur Price Rally? ETH total market cap at $163.7 billion on the daily chart | Source: TradingView.com Featured image from CryptoMode, Chart: TradingView.com (The analysis represents the author’s personal views and should not be construed as investment advice).