I mean what is it to gain anymore Binance ? This turned into a global scandal and Do Kwon is officially a fugitive now. And things are continuing to escalate since South Korea had asked Interpol to issue a "red notice" for Do Kwon, which would alert law enforcement around the world of the warrant.…
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🌐 Welcome to the blockchain for a multichain future! ZetaChain extends Cosmos to achieve decentralized, trustless, chain-agnostic, and flexible cross-chain programmability. What you guys think about it? : ) https://twitter.com/zetablockchain/status/1550148326292705283 submitted by /u/Mortgage-Pitiful [link] [comments]
Bitso, a Mexico-based, Latam-focused cryptocurrency exchange, has launched an initiative that aims to allow Argentines to use crypto for their everyday purchases. The exchange is introducing QR payments directly in its app, which will be interoperable with other platforms already using this method of payment in Argentina. Bitso Seeking to Drive Crypto Payments in Argentina […]
You would agree with me that as an investor either a beginner or an experienced crypto investor you need a verified and reliable source of information at your disposal… As the right crypto news source can save you from bankruptcy and can make you a millionaire overnight. cryptoS Report This is one of is the…
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The United States Federal Reserve is tightening, and interest rates hike has heavily impacted on the crypto market. Earlier this month, Bloomberg Analyst McGlone said Bitcoin would outperform traditional stocks as interest rates hike. However, to this point, Bitcoin does not seem to follow Bloomberg’s predicted trend. As a matter of fact, despite Bloomberg’s bullish standpoint, Bitcoin and other cryptocurrencies are still in a crash. For example, BTC and ETH dropped by 2% after the Fed’s announcement and bounced back. But have now crashed again. BTC is currently trading below $19,000. The Fed Reserve’s Federal Open Market Committee manages the economy during inflation and recession by controlling the money supply in the country. The Fed maintains the money supply via quantitative tightening and easing of reserves. As a result, a rise in interest rates triggers volatility in the market. Related Reading: Prepare For Volatility: Data Suggests Bitcoin Gets Chaotic During FOMC Meetings Inflation Would Drop To 2% By 2025, Says Federal Reserve The Federal Reserve revealed its plans to tackle inflation at Thursday’s Federal open market committee meeting. The Fed 75bps interest rate hike is just the tip of the iceberg as it plans to raise the rates as high as 400bps by the end of 2022. In August, the CPI indicated 8.3% YoY inflation, but the Federal Reserve forecasts inflation to come down to 2% by 2025. The Fed Reserve plans to bring inflation down to 5.4% by 2022 and 2.8% by 2023. Reports show that Fed raised this year’s interest benchmark by four times. The current rates are between 2.25% to 2.50%. From the CNBN Fed Survey for September, Fed’s interest hike would remain at the peak rate for 11 months. John Ryding, the Chief economic advisor at Brean Capital, commented in response to the survey. Ryding said the Fed has finally realized the inflation problem is critical. He thinks the Fed’s monetary tightening rate is a ‘positive real policy rate.’ The economist advises Fed to increase the current rate by 5%. The survey reported that among 35 survey respondents, some economists, strategists, and fund managers think Fed might overdo its tightening. Recession Would Hit Global Economy – World Bank The World Bank says recession would hit the global economy because of the war-like monetary policies of the world economy. Svan Henrich, the founder of Northman Trader, thinks interest rates would depend on recession than inflation in the next year. He thinks Jerome Powell, Chairman of the Fed Reserve, emulates Paul Volcker. Henrich further advised Powel to pivot before hitting the 40bps rates target. Paul Volcker is the former Chairman of the U.S Fed Reserves. Related Reading: Bitcoin Dumps After Revisiting June Lows, Where Does The Bottom Lie? Jerome refused to say much about the recession, saying he didn’t know the depth or when the recession would occur. Meanwhile, Fed dismissed all speculations of recession. Everyone awaits the release of the following inflation data in the Consumer Protection Index for September. In addition, the next Federal Open Market Meeting will take place on November 2. Featured image from Pixabay, charts TradingView.com
The most immediate use case was, of course, funding. The genesis event was a tweet from the official Ukraine account that published Bitcoin and Ethereum addresses, and that was just the beginning. link to OC: https://twitter.com/kim_bzk/status/1572922583636652032?s=20&t=DQvpaNeUvbVDaDarTQOf2Q submitted by /u/1minutebitcoin [link] [comments]
The crypto market is presently going through another round of downward movement except for a few coins like Algorand. Prices of cryptocurrencies are drastically dropping as macroeconomic factors set the pace. With the bearish trend, the primary crypto asset has crashed from its crucial support levels. Following the meeting of the FOMC on Wednesday, September 21, the US Federal Reserve settled its approach to controlling the rising inflation. Its decision led to the hike of the interest rates by 75 basis points. Related Reading: Blue Chip NFTs 101 – What’s The Secret Behind CloneX? Built For The Metaverse With the increase in the rates, the prices of crypto assets in the crypto market are depleting. As a result, the bears gradually take over as the price crash expands. However, the native token of Algorand has distinguished itself from the prevailing trend as it beats the price crash. Algorand Defiles the Bearish Sentiment While other assets are under selling pressure due to the bearish sentiment, ALGO displayed more positive strength. The price of ALGO is trading at $0.3816 at the time of writing. This shows about a significant gain. Surprisingly, ALGO had increased by more than 20% over the past seven days. This remarkable feat from Algorand came through the blockchain’s performance which recorded up to 6,000 TPS. The value exceeds that of MasterCard, which boasts 5,000 TPS. Other tokens in the market are far behind Algorand’s outstanding performance. BTC also tanked but managed to sustain. Ethereum dropped by over but is now trending sideways. Its post-merge performance is far below expectation. ETH dipped by more than 20% after it transitioned to PoS. At the press time, Ether is trading around $1,323. Comparing Algorand’s price increase and Ethereum pot-merge performance gives a sharp contrast. While ALGO gained by 20%, ETH dipped by 20% after the Merge. Reasons For ALGO High Performance Algorand is developed as a blockchain protocol with a proof-of-stake consensus mechanism. The project team boasts of the protocol void of trilemma issues, making Algorand achieve decentralization, scalability, and security with ease. Moreover, it parades its major strength as environmental sustainability. Speed has been a more selling point for Algorand. It claimed that the network could perform up to 6,000 TPS. This record surpasses the functionality of MasterCard, which handles about 5,000 TPS. With its speed, the Algorand blockchain takes just 3.7 seconds to hit finality and block production. The protocol just added another technical success to its stance in the crypto space. The Algorand blockchain included State Proofs on its platform. This addition will enable Algorand to digitally sign messages in a more decentralized approach. Related Reading: Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering Reacting to the new move, Algorand’s co-founder, Silvio Micali, stated the importance of having state proofs. He noted that it would enhance the safety of the blockchain against quantum attacks. Also, Micali acknowledged that the guarantees provide decentralized bridges with other chains. Featured image from Pixabay, charts TradingView.com
NFTs improve interactivity by allowing users to unlock fully modular, community-driven in-game experiences to which they own the pieces, explains Mark Soares, the founder of Blokhaus Inc.
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The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual assets from people accused of tax evasion in 2021. Almost 260 Billion Won in Crypto Seized for Tax Evasion in South Korea The amount of […]
