Category: Cryptocurrency News

While no longer the leader of the Democratic Party, Hillary Clinton’s comments on crypto could have the potential to create more partisanship among lawmakers regulating digital assets.

Bitcoin price has now declined to $56k; does that mean a top is in? Or is this just a shakeout? Here’s what the SOPR indicator says about it. The Bitcoin SOPR Indicator The BTC Spent Output Profit Ratio (or SOPR in short) is an on-chain indicator that estimates whether investors are selling at a profit or a loss. When the metric’s value is above one, it means coins that were moved during the period were sold, on an average, at a profit. While SOPR values less than one imply the overall market has been selling at a loss during the particular timescale. If the indicator starts trending up, it could mean holders are now realizing their profits and a correction could soon be coming. On the other hand, a downwards trend implies sellers are moving their coins at a loss, and holders with profitable coins may be sitting on to them in hopes of further price appreciation. Related Reading | Bitcoin MVRV Shows Top Isn’t In Yet, BTC Still Has Room To Grow What Does The Indicator Tell Us About Tops And Shakeouts? An analyst has created a chart in a CryptoQuant post that highlights the trend in the value of the indictor over the past year and a half. The trend of the SOPR during the early 2021 run versus now | Source: CryptoQuant As you can see, above are the graphs for a few different versions of the indicator. The STH SOPR and LTH SOPR metrics show whether short-term and long-term holders, respectively, are taking profits or not. The separation between the two types of holders is done on the basis of coin age. Coins that haven’t been moved since 155 days fall into the LTH category. Anything below that is in the STH territory. Now, looking at the above chart, it seems like all the Bitcoin SOPR metrics had high values when the early 2021 top formed. Related Reading | Inflation fears sparks Bitcoin rally before Taproot – Crypto Roundup, Nov 15, 2021 But before the run started, there was a period where the STH SOPR shot up and the other indicators also increased in value. However, there was no top formation here as it was only a pre-bull run shakeout. A trend similar to that seems to be visible in the current time period. The STH SOPR is high right now, but long-term holders don’t seem to be realizing that much profits. This fact makes the analyst believe that the latest decline in Bitcoin’s price was possibly just a shakeout, and not a top formation. Here is a chart that shows the current trend in BTC’s price: BTC’s price continues to plunge down | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

This is a summarized discussion post of an original article done by one of our writes, I haven't posted it anywhere on reddit and do not plan to…. I would like to share it here because of the community. Some fun stats going into 2022 By 2022, worldwide spending on blockchain solutions will reach $11.7…
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This is a summarized discussion post of an original article done by one of our writes, I haven't posted it anywhere on reddit and do not plan to…. I would like to share it here because of the community. Some fun stats going into 2022 By 2022, worldwide spending on blockchain solutions will reach $11.7…
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Much has been said recently about Facebook’s decision to rebrand to Meta, with both arguments for and against but what is without question is the overwhelming effect it has had on the metaverse cryptocurrency market. Over the past couple of weeks, we have seen metaverse cryptocurrencies rally and this looks set to only be the start of this sector’s growth during the rest of 2021 and into 2022. Much of this growth has been the realization of the virtual world becoming more and more attractive for millions of people around the world because of the endless amount of possibilities on offer for users. Axie Infinity (AXS) AXS/USD daily price chart. Source: TradingView Axie Infinity, a blockchain-based trading and battle online digital play-to-earn game, saw its market cap reach up to $8.4 billion before correcting to just over $8 billion. Axie Infinity’s native cryptocurrency token (AXS) rallied off the back of the increased metaverse “fomo” with gains of over 20% to reach a price of $150 dollars before correcting to just over $130 dollars. With Axie being the market leader in the metaverse gaming sector, seeing these types of gains speaks volumes to the newer, lower cap blockchain-based gaming projects as they seek to make a name for themselves throughout the rapidly increasing adoption of play-to-earn games. JEDSTAR (JED) JED/USD daily price chart. Source: TradingView JEDSTAR ($JED), the DeFi token in the gaming project’s DECO (Decentralised Ecosystem) has seen over 200% growth in the last week from $0.3 to over $0.9 and is now at a great entry point for new investors with a market cap of $42 million, looking set to increase further as the development team rolls out new updates. One of these updates includes their STARSTAKING initiative for JED holders that allows investors to stake their tokens and be rewarded up to 120x returns in the new GameFi token KRED. This will be used in their upcoming NFT marketplace AGORA, Collectible Card Game, Metaverse MMORPG game and in a highly exciting partnership with Skill Gaming for STARDOME which will see KRED used as a world’s first CAAS (Currency as a Service) on Skill Gaming’s platform for over 30,000 gamers. With JEDSTAR being a relatively new project compared to that of Axie Infinity, investors have been capitalizing on the opportunity to be an early investor in the project’s upcoming roadmap. When compared to the heights that Axie Infinity has reached in market cap, it speaks to the amount of potential for future growth that the JEDSTAR DECO has ahead of it over the coming weeks and months.   Image: Pixabay

So economist are expecting another economic collapse similar to 2008 when the housing bubble burst due to toxic loans. Something to take a look at is https://www.axios.com/credit-cards-america-hits-all-time-high-d98530fe-0d4f-48f2-99a9-8a1776bd7560.html ​ https://preview.redd.it/7shokn8dll081.png?width=822&format=png&auto=webp&s=6068144805e0480ad6127d76021a4076debef754 And then debt is at an ATH. ​ Anyone has any thoughts on how crypto will handle this if another 2008 collapse happens? ​ IMO I…
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Hillary Clinton just said on a recent interview, one of the most bullish statements that I have ever heard about Cryptocurrencies. Quote: "One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrencies – because what looks like a very interesting and somewhat exotic effort to literally mine new…
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Thousandfold growth, incredible hype on Twitter and Elon Musk – this is how you can briefly describe the situation around the “meme-coins” that has arisen in the crypto space over the past year. Meme coins are cryptocurrencies that cannot boast of using or inventing any advanced technologies, but they are great at speculating on popular Internet memes and other funny stories. Various influencers play an important role in promoting meme coins. And for some coins, the main and most important role, as happened with Dogecoin or Shiba Inu, which owe their popularity, explosive growth, and audience to Elon Musk and his shocking tweets. The combination of good looks, low price, hype, and lots of advertising on Tik-Tok and Reddit has become a real win for such projects. But those who were lucky enough to get at least an indirect mention from influencers of Elon Musk’s level, “skyrocket to the moon” with incredible speed. Meme coins have played an important but controversial role in crypto adoption: on the one hand, they brought a lot of money to the lucky ones who managed to jump on a rocket taking off to the moon, and brought a million newcomers to the crypto market. On the other hand, due to the extremely high volatility and unstable background of such projects, many people became involved in various scams or at least lost most of their investments. Perspectives Nevertheless, thanks to the huge number of new people and new liquidity, the market expanded to such an impressive scale, and this gave a chance for the emergence and development of new, interesting projects. Many experts agree that even among the “meme-coins” there are many noteworthy coins. For example, Dogecoin, which started out as a joke, is now supported and actively developed by a group of experienced blockchain developers who scale and improve its blockchain. “Not all meme coins are scams. Some of them are backed by powerful communities, investors, developers, those who are able to maintain the value of the token”, the founder and CEO of Yafo Business Development says. Besides DogeCoin, there are a number of other meme tokens with good growth potential. This was especially facilitated by the development of another “hype” technology called NFT. The combination of memes, NFT, gamification and play-to-earn has spawned a whole genre and has allowed for even more attention, capital, and audience in crypto. Just take Axie Infinity — a project that, although not a “meme”, is growing thanks to the influx of a huge new audience in “crypto with a human face”. One of the potential candidates for the next “to the moon” could be Vodka-Token, a project on the Polygon (Matic) / Binance Smart Chain blockchains with a bright name, but rather strong partners and team, including former employees of Ex-Oracle, ex- Microsoft, ex-McAfee & Fintech projects. The young NFT project invites users to try themselves as a bartender, mix the proportions of different crypto-assets, and sell the resulting “cocktails” in the form of NFTs in the secondary market. The game mechanics include the deflationary mechanism of the VODKA token, which should provide it with good growth in value, and the received NFTs can be staked at 100-300% APY. In addition, on November 23, the TGE (listing) of Vodka Token will be launched at a starting price of $0.0001, where fans of meme coins and a play-to-earn mechanic will be able to become early holders of a potentially explosive project. Conclusions Perhaps the most important achievement of meme coins has been the attraction of new people and capital to the industry, which has given rise to a number of gaming and interactive blockchain projects, especially NFT games. At the very least, it’s nice to see the massive adoption of cryptocurrencies by a wide audience. This indicates that we are moving in the right direction, regardless of the path.    

In addition to calling for greater regulation in the cryptocurrency industry, President Tokayez contemplated the introduction of a digital Kazakhstani tenge.