The city of Curitiba, in Brazil, is now studying the possibility of accepting cryptocurrency payments for taxes. Noemia Rocha, a city councilor for Curitiba, presented this project to the executive to study the method by which the municipality could accept cryptocurrencies for these payments using third-party payment processors. Curitiba Might Accept Crypto for Paying Taxes […]
South Korean prosecutors investigating a $7.22 billion money laundering case are reportedly seeking to acquire virtual currency tracking software to be used in monitoring crypto transactions. South Korean financial authorities also believe there is a tax evasion angle to the case. Real-Time Tracking According to a report, the Seoul Central District Prosecutors Office, which is […]
Up or down, it is high time that Bitcoin made a significant move, market participants agree.
Algorand recently received a big boost for its blockchain ecosystem courtesy of Hivemind Capital’s $25 million investment to the decentralized finance (DeFi) Layer 1 chain. Algorand DeFi ecosystem recently attained new all-time high in total locked value ALGO registered a 3.23% price surge before experiencing minor price correction once again The altcoin is predicted to be extremely volatile over the next few days The crypto-focused investment firm announced three days ago that it has deployed 80 million ALGO tokens across various governance and DeFi programs under the umbrella of the Algorand ecosystem. During that time, ALGO was trading at $0.31, putting the total value of the deployed tokens to $25 million. Hivemind Capital’s input catapulted the total locked value (TLV) into Algorand to a new all-time high of$270 million. On a week-to-date basis, at that time, the blockchain’s TLV increased by as much as 53.95%. The massive cash inflow, it turned out, didn’t just help the network with its total locked value, as Algorand’s social dominance and ALGO price also increased. Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How Algorand Social Engagement Up More Than 1,000% According to data shared by LunarCrush, Algorand’s social engagement surged by 1,220% over the last seven days as it peaked at 12.78 million at the time of this writing. The cryptocurrency social intelligence firm inferred this meant ALGO captured the interest of a large part of the crypto community. Moreover, the upcoming FIFA world cup might have spurred interest for both the blockchain network and the crypto as five months ago Algorand announced it will be one of the sponsors of the much-anticipated sporting event. Alpha: When you see spikes in social activity, it typically means there’s something to pay attention to…$ALGO social engagements measured hourly hit 12.87M, 1.22K% above the 7-day average. Access #algorand insights with a LunarCrush Level 5 account: https://t.co/BIkh6qFIUO pic.twitter.com/YeXKYonShv — LunarCrush (@LunarCrush) October 16, 2022 The huge boost in social status proved to be a good trigger for Algorand as it also translated into a price pump for the altcoin. ALGO increased by 3.23% over a 24-hour period as it traded for $0.32. At press time, however, the digital asset experienced price correction as data from Coingecko showed it was changing hands at $0.319. Time To Double Down On ALGO Different indicators from Algorand’s trading chart signals it may be time to take further risks in ALGO holdings as bigger rewards could be expected. Bollinger Bands indicate ALGO will be extremely volatile over the next few days which might help trigger price increase for the altcoin. Meanwhile, the Moving Average Convergence Divergence (MACD) showed Algorand buyers (represented by the blue line) are still dominating the sellers (orange line). Related Reading: Stellar (XLM) Buyers Must Check Out These Data Before Going Long Source: TradingView As buyers continue to prevail over sellers, a short term bullish streak could happen soon for the digital asset. Perhaps crypto investors have already predicted this trend for Algorand, as there’s been a significant increase in ALGO addresses. By the end of September, active addresses were at 15 million. Recent data, however, show the number increased by 200,000. ALGO market cap at $2.9 billion on the weekend chart | Featured image from Forkast News, Chart: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
The loans will be provided to “blue-chip” Bitcoin miners who could back their bids with physical or digital assets.
Macau, one of China’s special administrative regions, recently concluded discussing a bill that seeks to make digital currencies legal tender, a report has said. The report also suggested that individuals who reject or refuse to accept legal tender will be fined between $123 and $1,230. Improving Macau’s Legal System An executive council of Macau, an […]
https://cointelegraph.com/news/kyc-to-stake-your-eth-it-s-probably-coming-to-the-us tl;dr: SEC Chairman Gary Gensler stated that proof-of-stake (PoS) digital assets could be considered securities. The SEC claims that ETH transactions fall under U.S. jurisdiction due to the high concentration of the network’s nodes. The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) will require all businesses operating on the Ethereum blockchain to comply with…
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I recently found out about eth staking and I have >32 eth I would like to stake. What are my options for staking as securely as possible with no dedicated hardware? submitted by /u/CrookedToe_ [link] [comments]
Starting in November 2022, Binance’s Top 10 Equal-Weighted Index will be available to investors through Auto-Invest, to track the performance of the top 10 cryptocurrencies.
Cardano’s price started a major decline after it broke the key $0.4200 support. ADA could continue to move down unless it settles above the $0.50 pivot level. ADA price is showing a lot of bearish signs below the $0.420 support against the US dollar. The price is trading well below $0.400 and the 100 simple moving average (4-hours). There are two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA/USD pair (data source from Kraken). The pair could continue to move down below the $0.3500 support zone. Cardano (ADA) Price Signals Bearish Wave In the past few days, cardano’s price saw a steady decline from well above the $0.5000 level. The bears were able to push the price below the key $0.450 and $0.420 support levels. The decline gained pace below the $0.400 level and the 100 simple moving average (4-hours). A low was formed near the $0.3500 level and the price started a minor upward move, similar to bitcoin and ethereum. ADA price climbed above the $0.3620 and $0.3700 levels. There was a move above the 23.6% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low. However, the price failed to continue higher and settled below $0.3800. On the upside, an immediate resistance is near the $0.3700 zone. There are also two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA/USD pair. The first major resistance is forming near the $0.3880 zone. Source: ADAUSD on TradingView.com The 50% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low is also near $0.3880. The main resistance is now forming near the $0.4080 level and the 100 simple moving average (4-hours). If there is an upside break above the $0.408 and $0.420 resistance levels, the price could start a strong increase. In the stated case, the price could rise steadily towards the $0.50 level. More Pain? If cardano’s price fails to recover above the $0.3880 and $0.400 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.360 level. The main support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline towards $0.320. The next major support is near the $0.300 level. Technical Indicators 4-hours MACD – The MACD for ADA/USD is slowly losing momentum in the bullish zone. 4-hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.360, $0.350 and $0.300. Major Resistance Levels – $0.3700, $0.388 and $0.408.
