Category: Cryptocurrency News

ICICB Group, a renowned technological investment management company, has announced its plan to launch its Metaverse at the Blockchain Innovation Summit in Dubai. The development team is getting ready to launch into the world of virtual reality. Metaverse initiatives will be a game-changer in the crypto industry, and the Group envisions its future implementation of the digital world through the Metaverse. The Group and its wealthy partners are working to create these metaverse projects, with cryptocurrency tokens becoming the native money in that universe. The current projects are focused on developing the virtual universe, but their scope, size, and imagination will grow over time. The Group’s is focused on enhancing the luxury business through intelligent metaverse solutions, evaluating, comprehending, and investing in the digital world’s immense potential. The Group promotes innovation by investing in valuable businesses based on blockchain technology and the novel metaverse. The Group is reimagining the tech sector as a decentralized, virtual-reality platform, to revolutionize the entire user experience using augmented reality (AR) and blockchain technology. The metaverse projects use crypto to create a digital economy. The Group adopts blockchain technology, which has proven to be a beneficial technology in the metaverse. Blockchain technology is a transparent and cost-effective solution, ideal for the metaverse. It may enable users to create their own avatars and digital identities, a key concept in the metaverse. An avatar can be associated with the crypto wallet to manage the blockchain assets in the virtual universe. “We’ve gained tremendous proprietary information and insight into present progress and future evolution,” stated ICICB Group Chairman Airton Arruda. The Group is counting on its growing project as a paradigm for a new path forward for the innovative industry. The metaverse will pave the way for a new virtual world that benefits businesses and customers by combining modern technology and traditional components. ICICB took a novel approach to the metaverse and is now launching a one-of-a-kind initiative, the details of which are yet to be publicly revealed. The Group’s new investment phase may also involve crypto exchange, an NFT marketplace, and a virtual real estate environment in which customers may buy, trade, and manage using blockchain and cryptocurrency. It also features a decentralized crypto wallet. This project may be more than just a metaverse – it could be a place where companies develop great virtual experiences that rival those of their physical locations, all while avoiding the mobility limits imposed by coronavirus. ICICB Group is a UAE-based financial services firm with over 114 branches and offices across 26 countries. It was created in 2019 to help customers worldwide analyze and adapt to the gradual changes that have occurred as a result of the ongoing digital transformation. The Group is focused on integrating new processes and deploying innovative technologies to provide long-term sustainable solutions for the tech industry. Furthermore, the organization is always analyzing the market to find projects that require investment to attain their full potential for a decentralized and sustainable future. Please visit the site for more updates.  

Bitcoin has dropped to a low of $33,064 and could go further due to the negative sentiment that is permeating the markets. Robert Kiyosaki, an American businessman and author, is unconcerned with the recent price dip in the Bitcoin market. He called bitcoin’s drop “great news” and promised to increase his exposure to the commodity if its USD value fell below $20,000. Kiyosaki Sees Price Fall As Buying Point The 74-year-old Kiyosaki, best known for his Rich Dad Poor Dad book series, is one of the experts who believe bitcoin is an hedge against financial crisis and inflation. He also believes that the pioneer cryptocurrency can be used for educational purposes. He stated in the summer of 2020 that BTC, along with gold and silver, “make people smarter, richer, and stronger against the Fed.” The popular author, who is a vocal proponent of cryptocurrency, stated this on Monday as bulls fought to keep prices over $34,000. However, Bitcoin has dropped to intraday lows of $33,600, capping up a dismal week in which the flagship cryptocurrency’s value fell below crucial support levels of $40,000 and $37,300. WOW:Words of Wisdom. “Your profits are made when you buy, not when you sell.” Price of Bitcoin crashing. Great news. I bought BC at $6K and 9K. I will buy more if and when BC tests $20k. Time to get richer is coming. Silver best bargain today. Silver still 50% below high. — therealkiyosaki (@theRealKiyosaki) January 24, 2022 According to Kiyosaki, a new slump that exacerbates the losses will be “great news.” According to him, this presents a buy-the-dip opportunity, which he intends to take advantage of. The US businessman and founder of Rich Global LLC claimed that he purchased Bitcoin twice in the past, once when it was around $6,000 and again when it was around $9,000. BTC/USD at $33k. Source: TradingView Kiyosaki predicted in May 2020 that Bitcoin would reach $75,000, however the aim was missed when prices peaked at roughly $69,000. The author recently linked Bitcoin to “people’s money,” while gold was dubbed “God’s money.” The investor has already expressed his skepticism for the traditional banking system, forecasting a US dollar meltdown. According to him, the monetary troubles generated by the Fed’s COVID-19 countermeasures have rendered the American national currency “fake dollars.” He urged individuals not to store money since their savings would be devalued during a recession. Instead, they should concentrate on bitcoin and gold in order to protect their wealth. He also forecasted the 2008 Financial Crisis and questioned the US government’s countermeasures. Related article |“Buy Bitcoin”: Robert Kiyosaki Foresees A New Depression Not Only Kiyosaki Shares This Sentiment Bitcoin’s price has dropped by more than half from its all-time high in November, prompting some to speculate that the crypto bubble has burst. However, according to Perianne Boring, creator of Digital Chamber, “volatility is not always a bad thing.” She went on to say on CNBC’s “Squawk Box”: “It’s normal to see 30-50% volatility in the crypto markets in any given month. The markets are behaving just as expected.” In her view, Bitcoin price will likely rebound higher given the cryptocurrency’s fundamentals “are as strong as ever.” This is not the first time Kiyosaki has taken aim at fiat currencies, particularly the US dollar. He mentioned a few years ago that the financial sector would undergo significant changes by the year 2040. He predicted that gold will continue to play an active role because it has been present “for eternity.” He, on the other hand, had a different take on the dollar: “Will the dollar be here? I don’t think so. The dollar is toast because gold, silver, and cyber currency are going to take it out. The U.S. dollar is a scam. I think we are watching the end of the dollar. That’s what I’m saying.” Related article | Rich Dad Poor Dad’s Kiyosaki is Buying More Bitcoin Today, But Why? Featured Image from Shutterstock | Charts by TradingView

Banks do not need to provide an explanation when shut down accounts owned by clients deemed “too risky,” according to former CFTC commissioner Brian Quintenz.

The current market crash is no doubt one of the hardest to hit in recent times. Bitcoin as well as other digital assets have suffered massive dips as a result of the crash. For Bitcoin, the pioneer cryptocurrency has had more than 50% of its all-time high shaved off in the last two months. This has caused it to hit new six-month lows as its price crashes to $33,000 for the first time since the summer. Market sentiment has since nosedived in accordance with the movement of the market. As investors become increasingly wary of the market, more so than it was during the crash in May, sentiment has skewed entirely into the negative. The Fear & Greed Index puts this into perspective with its current rating as it now sits at one-year lows, crashing to 11 on the scale. Related Reading | Ethereum Fee Averages Remain Above $30 Despite 35% Drop. Price Pump Incoming? Fear & Greed Index Goes Haywire The Fear & Greed Index has been consistently declining into the negative as bitcoin and others have continued to record massive fluctuations. Now, though, the index has gone completely berserk as it crashes into one of the lowest recorded points. On Sunday, the Fear & Greed Index hit a score of 11, completely registering sentiment in the negative as it dived into extreme fear. The following day has not come with much good news as the Fear & Greed Index still shows that investors are very wary of the market. The index currently sits at 13 at the time of this writing, a mere 2 points higher than its weekend low of 11. Nevertheless, the Fear & Greed Index has now spent a week in extreme fear as last week concluded with the index in the same territory. Fear & Greed Index remains in extreme fear | Source: alternative.me Sell-offs remain the order of the day with investors scrambling to save themselves from more losses. It looks to be what is the start of another stretched-out bear market, as the last time something like this occurred was in 2018. After this, the market did not recover for another two years. If history is anything to go by, then the downtrend may not be over, with some predicting the bottom to be as low as $10,000. Bitcoin Liquidations Rack Up Amidst the sell-offs and price crash has been massive liquidations. Bitcoin long traders have naturally borne the brunt of the recorded liquidations with hundreds of millions of dollars in longs liquidated in the space of 24 hours. BTC liquidations racked up to $390 million in a single day, while the 12-day chart looks even worse with more liquidations taking place. Related Reading | Bitcoin Breaks $37,000, Why Downtrend To $29,000 Is Likely In total, there have been over $283 million in bitcoin liquidated in the last 12 hours. Longs have made up 80.8% of all liquidations according to data from Coinglass. OKEx, Binance, and FTX maintain the lead for exchanges with most liquidations as the majority have occurred on these platforms. BTC recovers to $34k | Source: BTCUSD on TradingView.com Bitcoin’s price continues to trend low, touching $33,000 in the early hours of Monday. Twitter is abuzz with talk of the bitcoin crash with #BitcoinCrash trending. The digital asset is now trading at $34,200, with indicators pointing towards further dips. Featured image from Unfinished Success, charts from alternative.me and TradingView.com

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

Here's some food for thought. Major investors like VC and private equity funds, put their money into projects with a roughly five year time horizon (when they have to pay back their investors.) Literally billions of dollars have flowed into the crypto markets in January, 2022 alone. Temporary price movements have little to no effect…
Read more

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

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

Hypothetically, you have thousands of ETH that you would like to cash out for US$. How would you proceed while making sure you never have to justify the source of the ETH to US government agencies? Moving out of the US is possible. submitted by /u/bazbour [link] [comments]

Decentralized financial ecosystem, Timechain announced the launch of new features to its decentralized exchange (DEX), this Monday, bringing the world of decentralized finance (DeFi) to its users. The new DeFi features include staking, liquidity pools, yield farming, and permissionless lending and borrowing. Additionally, users will be able to swap thousands of cryptocurrencies on multiple blockchains including assets on Binance Smart Chain, Ethereum, and Fantom ecosystems. Since the start of 2020, the DeFi ecosystem has soared exponentially in value as developers introduced new ways for users to make their capital work. In 2021, the industry further blossomed as Layer 1 scalability solutions such as Solana and Layer 2 solutions including Polygon, Fantom, and Avalanche were built on Etherum, reducing the gas costs and transaction times greatly. According to DeFi Pulse data, the total locked value (TVL) DeFi ecosystem has grown from $10.5 billion in January 2020 to a high of $112 billion in November 2021, representing almost 10X growth during the period. One of the leading applications of DeFi supporting the gargantuan growth is the rise of automated market makers, or AMMs. They allow investors and token holders to use their tokens to provide liquidity, earn returns and concurrently increase demand for the native token exchange. The latest upgrades on Timechain’s DEX are set to improve the efficiency of its AMM while offering an industry-spread aggregator to enable users to find the best and cheapest swapping routes across all integrated platforms. As mentioned above, the DEX also introduced AMM liquidity pools, staking functionalities, peer-to-peer lending & borrowing services, and yield farming. These services provide liquidity to the platform, support its native utility token, $TCS, and promote other tokens that wish to leverage its infrastructure. Timechain’s new liquidity pools will also offer users who stake on the platform rewards, paid out in $TCS, from the fees generated by trades on the platform. The base trading fee of 0.3% will be applied to each trade, with 0.2% returned to liquidity providers and 0.1% going to Timechain’s TCS Buyback program. To add liquidity to the liquidity pools, users will need to provide an equal value of the two tokens within the pair, for instance, on the TCS/FTM pool, you will need to provide 50% TCS and 50% FTM, of the value you have. You’ll then receive LP tokens that represent your share of the pool, These LP tokens then generate rewards, proportionally to the trade fees generated. Available liquidity pools at launch include TCS/FTM, TCS/USDC, TCS/DAI, FTM/USDC and FTM/DAI. Furthermore, these LP tokens can also be deposited on yield liquidity farms to earn additional rewards in $TCS.  The liquidity farms are designed to incentivize users to provide liquidity to TimechainSwap and offset the risk of impermanent loss. Users will be able to harvest their rewards at any time. Finally, with the DeFi ecosystem revolutionizing the finance industry, platforms in the industry are continuously innovating to give users the best possible rates and utility for providing liquidity. Timechain swap staking feature, will give users a way to stake their $TCS into the $TCS single asset staking pool (SSP) and earn $xTCS rewards over time. This means you will earn rewards by staking your rewards!